WASHINGTON, DC – Holliday Fenoglio Fowler, L.P. (HFF) announces acquisition financing for Northlake Townhomes, a 76-unit, garden-style apartment property in North Charleston, South Carolina.
HFF worked on behalf of the borrower, Brick Lane, to secure the $5.25 million, 10-year, fixed-rate acquisition loan through Freddie Mac’s CME Program. The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans. Freddie Mac has provided financing for 786 units with Brick Lane during the last two years.
Northlake Townhomes consists of 17 buildings encompassing spacious two- and three-bedroom units. Located at 4135 Bonaparte Drive, the property is within one mile of Interstate 526, which provides access to major employers in the greater Charleston MSA. Northlake Townhomes is also near the Charleston International Airport, Tanger Outlets and Joint Base Charleston. The property is 98.68 percent occupied.
The HFF debt placement team representing the borrower included Jamie Leachman and Nicole Brickhouse.
About Brick Lane: Brick Lane is a real estate development and investment firm that was established in 2010 to capitalize on the strength and expansion of the Mid-Atlantic multi-housing and condominium markets. Brick Lane has acquired, delivered or is under development on more than 1.5 million square feet of apartment and mixed-use projects in Washington, D.C., Virginia, Maryland and South Carolina. In addition to developing mixed-use projects around the D.C. metropolitan area, Brick Lane actively searches for stabilized apartment building acquisitions in the Mid-Atlantic in markets with strong, diversified economies and healthy tenant bases.
About HFF: HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.