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Deals & Dealmakers

HFF secures $50M in apartment financing

Holliday Fenoglio Fowler secured financing totaling $49.801 million for a three-property apartment portfolio totaling 811 units in Greensboro and High Pointe, North Carolina.

Photo by Jun Acullador/ Flickr
Photo by Jun Acullador/ Flickr

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 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.”

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