DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $43 million in financing for Alexan Fairmount, a 368-unit, Class AA mid-rise apartment community in Dallas’ Oak Lawn neighborhood.
HFF worked on behalf of the borrower, Pure Multi-Family REIT LP, to place the 12-year, fixed-rate loan with Cigna Investments. Loan proceeds were used to acquire the property.
Alexan Fairmount is situated one block east of the Dallas North Tollway adjacent to the Maple Avenue restaurant district. Positioned near Dallas’ largest employment and entertainment destinations in Uptown, the Medical District, Old Parkland Campus and the central business district, the property is surrounded by the city’s top retail, dining, cultural and nightlife attractions. Completed in 2015, the five-story property wraps around a central pool plaza with fire pit and has additional amenities, including an outdoor gourmet kitchen with grilling station, wellness studio with CrossFit-inspired equipment, yoga and spin room, tanning studio, relaxation garden, bark park with pet grooming station, cyber café, social lounge, electronic vehicle charging stations and an access-controlled parking garage. Alexan Fairmount’s one- and two-bedroom units incorporate luxury finishes such as keyless entry, plank flooring, 10-foot ceilings, spa showers and gourmet kitchens with granite countertops, glass-paneled cabinetry, wine racks and stainless steel appliances.
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 puremultifamily.com or sedar.com.
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.