MIAMI – HFF announced today that it has arranged a $13 million refinancing for WillowBrooke Apartments, a 300-unit, garden-style multi-housing community in Lakeland, Florida.
HFF worked exclusively on behalf of the owner to secure the 10-year, 4.31 percent, fixed-rate loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.
WillowBrooke Apartment Homes is located at 1100 Oakbridge Parkway across from the 650,000-square-foot open-air mall, Lakeside Village, and is adjacent to a Target and Publix-anchored shopping center. The property is 98 percent leased and includes one-, two- and three-bedroom units averaging 980 square feet each. Community amenities include a 24-hour fitness center, tennis courts, basketball court, swimming pool and walking/biking trail.
The debt placement team representing the borrower was led by director Elliott Throne and associate director Todd Adams from HFF’s Miami office along with local market support from director Matt Mitchell in HFF’s Tampa office.
Cherishome Living (formerly McArthur Properties) has a 35-year track record of accomplishment that includes multi-housing acquisition, renovation and management and additional commercial real estate experience. The company’s current portfolio of multi-housing assets includes more than 4,000 units in Florida and Toronto, Canada.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 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 www.hfflp.comor follow HFF on Twitter at www.twitter.com/hff.