CHICAGO, IL – HFF announced today that it has arranged $33.25 million in financing for 2460 Peachtree Apartments, a 19-story, 236-unit, Class A multi-housing property in Atlanta’s Buckhead neighborhood.
Working on behalf of the borrower, an affiliate of Waterton Associates, LLC, HFF placed the seven-year loan with Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program. Loan proceeds were used to acquire the property.
2460 Peachtree Apartments is located at the intersection of Peachtree Road NW and Lindbergh Drive NE. Partially renovated in 2013, the property features an outdoor swimming pool with sundeck, grilling area, resident garden, fitness center, saunas, hot tub, clubroom and 24-hour doorman. The building is 98 percent leased.
The HFF debt placement team representing the borrower was led by managing director Stephen Skok, associate director Jason Bond and senior managing director Mark Sixour.
“This acquisition serves to expand Waterton’s presence in the Atlanta marketplace. In addition to 2460 Peachtree, the firm owns five other multi-housing properties in the area totaling 1,616 units,” said Skok.
Waterton Associates, LLC is a Chicago-based investment firm specializing in the ownership and management of multifamily properties. Waterton has participated in the acquisition, disposition and financing of apartment properties located throughout the United States.
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.