HFF secures financing totaling $49.801 million for North Carolina 3-property apartment portfolio
FLORHAM PARK, NJ – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured financing totaling $49.801 million for a three-property apartment portfolio totaling 811 units in Greensboro and High Pointe, North Carolina.
HFF worked on behalf of the borrower, Hudson Capital Properties, to place three separate 10-year, fixed-rate loans with Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. The securitized loans will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.
The properties included in the portfolio are Steeplechase at Adam’s Farm located at 1338 Adams Farm Parkway in Greensboro; Park Forest located at 3214 Brassfield Road in Greensboro; and Deep River Pointe located at 3971 River Pointe Place in High Pointe. The garden-style communities have a variety of floor plans ranging from one- to three-bedroom units. Community amenities vary for each property but include features such as swimming pools with sundecks, 24-hour fitness centers, business centers, tennis courts and walking trails. The portfolio is 96 percent leased.
The HFF debt placement team was led by senior managing director Thomas Didio and director Luke Vanderpoel.
“Hudson Capital Properties is excited about bringing these three properties into its growing portfolio,” Hudson Capital Properties president Frank Huttle III said. “We have been an owner of multifamily properties in North Carolina and are delighted to expand our footprint to Greensboro. Many thanks to HFF for their help in making this transaction a reality.”
“We are pleased to have secured favorable debt for the Hudson Capital Properties’ acquisition of three quality apartment assets in the Greensboro and High Pointe, North Carolina markets,” continued Didio. “Our Freddie Mac team did a great job securing the interest rate prior to closing the purchase.”
About Hudson Capital Properties
Hudson Capital Properties (Hudson Capital), a real estate management and investment company, was founded in 2009 and is located in the New York Metropolitan Area. Hudson Capital is a developer and owner of multifamily residential property from identification of redevelopment properties and existing multifamily properties, to underwriting, acquisitions, asset management, and risk management.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national 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.