Published: January 07, 2010
$156 Million Refinancing Arranged by HFF for Eight-Property, Four-State Multi-Housing Portfolio
CHICAGO - (BUSINESS WIRE) - The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) announced
today it has arranged a $156 million refinancing for an eight-property,
2,306-unit multi-housing portfolio in Indiana, Kentucky, Tennessee and
Virginia.
HFF director Matthew Schoenfeldt worked on behalf of NTS Realty Holdings
Limited Partnership ("NTS" ) and its wholly-owned subsidiaries to secure
the 10-year, 5.4% fixed-rate loan through Freddie Mac (Federal Home Loan
Mortgage Corporation). The loans, which will be serviced by HFF, are
securitized through Freddie Mac's Capital Markets Execution (CME)
program. Loan proceeds will be used to retire existing life company
mortgages and commence a program of targeted capital improvements at the
Class-A properties.
"In addition to the exceedingly attractive loan terms delivered to our
borrowers, this closing was monumental as it represented the very first
crossed-pool funding for Freddie Mac's CME program," said Schoenfeldt.
"The planned enhancements will reinforce the NTS portfolio's status as
the preeminent rental communities in their respective markets," added
Schoenfeldt.
Individual property details are listed below:
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Property
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Location
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Size
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Willow Lake Apartments
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Indianapolis, IN
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207 Units
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Castle Creek Apartments
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Indianapolis, IN
|
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276 Units
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Lake Clearwater Apartments
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Indianapolis, IN
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216 Units
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The Grove Richland Apartments
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Nashville, TN
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292 Units
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The Grove Whitworth Apartments
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Nashville, TN
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301 Units
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Park Place Apartments
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Lexington, KY
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464 Units
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The Grove Swift Creek Apartments
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Midlothian, VA
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240 Units
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Willows of Plainview
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Louisville, KY
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310 Units
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NTS Realty Holdings Limited Partnership (NYSE:NLP), as a
tenant-in-common with unaffiliated co-owners, or as a majority joint
venture partner with an affiliate, currently owns 24 properties
comprised of 14 multifamily properties, seven office buildings and
business centers and three retail properties. The properties are located
in and around Louisville and Lexington, Kentucky; Nashville and Cordova,
Tennessee; Richmond, Virginia; Fort Lauderdale and Orlando, Florida;
Indianapolis, Indiana; and Atlanta, Georgia.
HFF (NYSE:HF) operates out of 17 offices nationwide and is a leading
provider of commercial real estate and capital markets services to the
U.S. commercial real estate industry. HFF offers clients a fully
integrated national capital markets platform including debt placement,
investment sales, advisory services, structured finance, private equity,
loan sales and commercial loan servicing. www.hfflp.com.
Holliday Fenoglio Fowler, L.P.
Matthew R. Schoenfeldt, 312-528-3650
HFF
Director
mschoenfeldt@hfflp.com
or
Kristen
M. Murphy, 713-852-3500
HFF Associate Director, Marketing
krmurphy@hfflp.com
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