Refinancing totaling $15.5 million for 3 Lubbock, Texas multi-housing communities secured by HFF
DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured refinancing totaling $15.5 million for three Lubbock, Texas multi-housing communities: Stone Lake, Savannah Oaks and The Fountains.
Working on behalf of the borrower, HFF placed three separate 10-year loans totaling $15.5 million with Lincoln Financial Group. Each loan has a fixed-rate with five years of interest only.
The communities total 480 units and feature swimming pools, grilling/picnic areas, 24-hour fitness centers, business centers and dog parks. Individual property details are listed below:
Property Name & Location Size Occupancy
Stone Lake 162 Units 97%
7414 Elgin Avenue, Lubbock
Savannah Oaks 150 Units 97%
5204 50th Street, Lubbock
The Fountains 168 Units 97%
5001 Chicago Avenue, Lubbock
HFF’s debt placement team was led by associate director De’On Collins and senior managing director John Brownlee.
About Lincoln Financial Group
Lincoln Financial Group provides advice and solutions that help empower Americans to take charge of their financial lives with confidence and optimism. Today, more than 17 million customers trust its retirement, insurance and wealth protection expertise to help address their lifestyle, savings and income goals, as well as to guard against long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. The company had $214 billion in assets under management as of September 30, 2015. Learn more at: www.LincolnFinancial.com. Find Lincoln Financial Group on Facebook, Twitter, LinkedIn and YouTube.
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.