Press Release brought to you by HFF

Refinancing totaling $15.5 million for 3 Lubbock, Texas multi-housing communities secured by HFF

11/18/2015

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.

About HFF
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.

11/18/2015 - 16:15

Source

HFF

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