CHICAGO, IL – HFF announced today that it has secured $15 million in financing for the Trails of Ashford, a 514-unit, garden-style multi-housing property in southwest Houston, Texas.
Working exclusively on behalf of the borrower, Bayshore Properties, HFF placed the 10-year, fixed-rate loan with Jefferies LoanCore LLC. Loan proceeds were used to refinance and recapitalize the asset.
The Trails of Ashford consists of 34 two- and three-story buildings totaling 390,960 square feet. There are nine different floor plans with an average unit size of 751 square feet, and the property features a fitness center, two swimming pools, sand volleyball court, lighted tennis court and limited gate access. The property is situated on 28.54 acres at 12710 Brant Rock Drive where it intersects with South Dairy Ashford Road just off the Westpark Tollway. The property is within 10 miles of both the 610 Loop and the Sam Houston Tollway (Beltway 8), which provide access to all other major highways in and around Houston.
The HFF debt placement team representing the borrower was led by associate director Jason Bond and real estate analyst Dan Kearns.
“HFF is very pleased to have assisted Bayshore Properties in securing financing for Trails of Ashford,” Bond stated.
Bayshore Properties is a multi-family property management company based in northwest Indiana. Operating apartment communities in Illinois, Indiana, Michigan and Texas, their goal is to make the residents’ living experience a positive one. With more than 25 years of experience, their friendly staff strives to provide great apartments and excellent service to its customers. Learn more at www.bayshoreprops.com.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 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.