DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $45 million in financing for Amalfi Stonebriar, a 395-unit, Class A multi-housing community in Frisco, Texas.
Working on behalf of the borrower, Pure Multi-Family REIT LP, HFF placed the 12-year, fixed-rate loan with TIAA-CREF. Loan proceeds were used to acquire the property.
Amalfi Stonebriar is located at 5725 Town & Country Boulevard in the north Dallas suburb of Frisco across from the future headquarters of Toyota and FedEx, as well as the new Liberty Mutual office campus. Proximate to both the Sam Rayburn Tollway and the Dallas North Tollway, the property is near area amenities such as the Stonebriar Country Club and the Shops at Legacy. Completed in 2014, the property has units ranging from 603 to 1,689 square feet each with an overall mix of 69 percent one-bedroom and 31 percent two-bedroom units. Community features include a swimming pool with sun deck, 24-hour fitness center, grilling areas, resort-style community courtyard and business center. The asset is 94 percent occupied.
The HFF debt placement team representing the borrower was led by senior managing director John Brownlee and associate director Michael Cosby.
About Pure Multi-Family REIT LP: Pure Multi-Family REIT LP (Pure Multi) is a Canadian-based, publicly-traded vehicle which offers investors exclusive exposure to attractive, institutional quality U.S. multifamily real estate assets. Additional information about Pure Multi is available at www.puremultifamily.com or www.sedar.com.
About HFF: HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 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.