CHICAGO, IL – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $27.05 million in financing for The Enclave at Winghaven, a 400-unit, Class A multi-housing community in O’Fallon, Missouri.
HFF worked on behalf of the borrowers to secure the seven-year, fixed-rate loan with a correspondent life company lender. The borrowers include affiliates of both Banner Apartments, LLC and Doug Imber, President of Essex Realty Group, Inc. This loan refinances maturing Freddie Mac debt on the property.
The Enclave at Winghaven is located at 1000 Applerock Drive in O’Fallon, providing access into the St. Louis and Clayton commercial area via Interstate 64. Situated on 20 acres, the 97-percent-leased property has 16 residential buildings with units averaging 952 square feet each. Community amenities include a resort-style swimming pool, fitness center, tennis court, playground, media room, business center, clubhouse and garages.
The HFF debt placement team representing the borrower was led by managing director Matthew Schoenfeldt.
About Banner Apartments, LLC: Banner Apartments, LLC is a fully integrated real estate operating company based in Northbrook, Illinois, that focuses on the acquisition, management and development of multifamily properties in select Southeast, Sun Belt and Midwest markets. Since its founding in 1989, Banner has acquired and operated 43 multifamily properties totaling over 9,200 units. The current multifamily portfolio consists of over 5,750 units, valued at approximately $600 million.
About Doug Imber: Doug Imber is co-founder and President of Essex Realty Group, Inc. He has been involved in more than $1 billion of investment real estate transactions throughout his 28-year career and has represented many of Chicago’s most prominent real estate companies and lending institutions. In addition, Mr. Imber is the general partner of more than 4,000 apartment units across the United States.
About HFF: HFF 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.