AUSTIN, TX – HFF announced today that it has arranged $47 million in financing for Regency Park Apartments, a 528-unit, Class A, garden-style multi-housing community in Austin, Texas.
HFF worked exclusively on behalf of the borrower, Suburban Homes, Inc., to arrange the fixed-rate loan through JP Morgan Chase Bank N.A.
Regency Park Apartments is located at 401 Little Texas Lane between South Congress Avenue and Interstate 35 in South Austin. Completed in 2003, the property is currently 98 percent leased and has averaged 97 percent occupancy throughout the past decade. Community amenities include a fitness center, two resort-style swimming pools, spa, sand volleyball, picnic and barbecue areas, dog park, business center, clubroom and billiard room.
The HFF team representing the borrower was led by senior managing director Douglas Opalka and associate director Robert Wooten.
“The ownership’s focus on community and taking care of its tenants has created a very friendly atmosphere, earning rave reviews from the residents who reward the management with long term loyalty. This made the asset all the more attractive to lenders,” commented Opalka.
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.