ORLANDO, FL – HFF announced today that it has secured $33.25 million in acquisition financing for Gallery at Mills Park, a newly-built, 310-unit, Class AA, luxury midrise residential community within a mixed-use development in the heart of Orlando, Florida.
HFF secured a 10-year, fixed-rate loan on behalf of the borrower, a client advised by Heitman. HFF is servicing the loan.
Completed in 2014, Gallery at Mills Park is composed of one five-story building that contains 133 one-, 125 two- and 10 three-bedroom units and 42 studios averaging 828 square feet. The property has 12 different floor plans and features two resort-style pools, an outdoor yoga platform, poolside suites with televisions, poolside fire pit lounges, Wi-Fi surf lounge with Mac computers, conference room, bicycle lockers, outdoor Zen area, game and sports lounge with a 70” television, 24-hour fitness center, spa treatment room, relaxation lounge and storage units. Situated on 4.23 acres at 1650 North Mills Avenue, the property is located within the Mills Park mixed-use development in central Orlando, approximately 3.2 miles from downtown. Gallery at Mills Park is within walking distance to restaurants and one of only three Fresh Markets in Orlando. The Orlando Urban Trail, a recreational trail that eventually will extend to the Central Business District, is adjacent to the community.
The HFF debt placement team representing the borrower was led by director Michael Weinberg, senior managing director Eric Tupler and real estate analyst Leon McBroom.
Heitman, founded in 1966 and headquartered in Chicago, manages more than $32.3 billion in assets invested directly and indirectly in real estate in North America, Europe and Asia-Pacific. The firm’s clients include institutions, pension plans, endowments and foundations and individual investors. For more information, visit www.heitman.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.