HFF secures $100 million revolving credit facility for Advenir, Inc.
DENVER, CO – February 28, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured a $100 million revolving credit facility for Advenir, Inc. (Advenir).
HFF worked exclusively on behalf of Advenir to secure the revolving line of credit through Freddie Mac’s Credit Facility Program. HFF is a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans. The facility has the option to be expanded to $150 million and will provide highly competitive and flexible terms per property financed.
With the benefit of being one of Freddie Mac’s preferred sponsors, Advenir has continued to expand its presence as a leading multi-housing owner and operator. This credit line will further bolster Advenir’s ability to acquire apartment communities nationally by eliminating financing risk and providing a streamlined execution and closing process.
The HFF debt placement team representing Advenir was led by senior managing director Eric Tupler and managing director Josh Simon.
“We were pleased to assist Advenir with this revolving line of credit,” said Simon. “The funds will allow the company to fulfill their expansion goals more easily, allowing the company to acquire and reposition more communities more quickly and with greater certainty on the loan side.”
“We have been able to grow as a company through the loyalty of Freddie Mac,” said Stephen Vecchitto, Managing Director of Advenir, Inc. “We are excited for this new financial tool and look forward to our continued partnership with them.”
About Advenir, Inc.
Founded in 1996, Advenir, Inc. is a real estate investment company headquartered in Aventura, Florida (Miami-Dade). Advenir acquires and operates income multifamily rental communities throughout the United States, on behalf of high-net-worth and institutional investors. Since inception, Advenir has owned and operated 22,000 multifamily units valued at just under $3.3 billion. Advenir’s current portfolio consists of 11,500 apartment units valued at more than $1.7 billion. In addition to Advenir, Inc., Advenir has a Property Management Company with 315 employees and regional offices in Florida, Texas and Colorado; and a Construction Management Company focused on multifamily development and rehabilitation.
Holliday Fenoglio Fowler, L.P. (“HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 offices and is 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, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.