HFF arranges $26.5 million financing for 446-unit apartment community in Omaha, Nebraska
CHICAGO, IL – June 15, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $26.5 million in financing for Whispering Hills, a 446-unit, Class A, garden-style apartment community in Omaha, Nebraska.
HFF worked exclusively on behalf of the borrower, NewStreet Properties, LLC, to place the 10-year, fixed-rate loan with Allianz Real Estate of America, LLC. The borrower purchased the asset on an all-cash basis in a separately closed transaction. Loan proceeds were used to partially defray the cost of the acquisition and to fund property upgrades and common area amenities.
Built in four phases from 2004 to 2016, Whispering Hills is located seven miles northwest of downtown Omaha at 2510 North 109th Plaza providing access to the Dodge Road corridor, 11 Fortune 1000 company headquarters and an abundance of nearby retail and recreational amenities. The property is 99 percent occupied and consists of 20 two- and three-story buildings with a variety of 12 floor plans averaging 984 square feet. Amenities include two resort-style swimming pools, a sand volleyball court, indoor basketball court, 24-hour fitness center, business center and children’s playroom.
The HFF debt placement team representing the borrower was led by managing director Timothy Joyce.
About NewStreet Properties, LLC
NewStreet Properties, LLC (“NewStreet”) is a private real estate investment company founded in 1992. NewStreet has a diverse commercial real estate portfolio comprised of apartments, office, retail, industrial, and land holdings located in the Midwest and Southwest. For more information, please visit newstreetllc.com.
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). 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 sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.