HFF announces $65M financing for 4-property Maryland apartment portfolio
WASHINGTON, D.C. – October 23, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces $65 million in total financing for four apartment properties totaling 920 units in Maryland’s Prince George’s County.
The HFF team worked exclusively on behalf of Joseph Gildenhorn and Donald Brown, two of the co-founders of the JBG Companies, acting as representatives for the ownership partnerships, to secure four separate fixed-rate loans through Freddie Mac’s CME Program.
The properties in the portfolio include: Barclay Square (180 units) located at 3598 Powder Mill Road in Beltsville, Townley Apartments (230 units) located at 11457 Cherry Hill Road in Beltsville, Hickory Hill (284 units) located at 3613 Silver Park Drive in Suitland, and Sussex Square (226 units) located at 2316 Brooks Drive in Suitland. The properties average 95 percent occupancy and are positioned near major thoroughfares to provide access to employment and lifestyle amenities in the Prince George’s County region.
The HFF team representing the borrower included Sue Carras, Jamie Leachman and Jay Graham.
“It was a unique opportunity to work with both Joe Gildenhorn and Don Brown,” Graham said. “HFF is excited to have helped structure a deal that will benefit the properties and the investors for the next decade.”
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.