AUSTIN, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged acquisition financing for Apple Creek, a 176-unit multi-housing community in Georgetown, Texas, on behalf of a joint venture between GVA, LLC and Decisive Ventures, LLC.
HFF placed the seven-year, 3.31 percent, floating-rate loan with Freddie Mac’s CME Program on behalf of the joint venture. The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans. Loan proceeds will be used for the purchase of the property and planned capital improvements to the asset.
Apple Creek is situated on 10.538 acres at 302 Apple Creek Drive just off Interstate 35, which serves as Central Texas’ main transportation artery and provides access into Austin approximately 30 miles to the south. The 10-building, two-story community is 98 percent leased and comprises a mix of efficiency, one- and two-bedroom units averaging 673 square feet each. Community amenities include a pool, dog park, playground, grilling area and basketball court.
The HFF team representing the borrower was led by director Robert Wooten.
About GVA, LLC
GVA, LLC (“GVA”) is an Austin-based company committed to extricating maximum value from the real estate marketplace. GVA specializes in conventional as well as affordable opportunities, with particular attention paid to expanding submarkets. Through owning and managing a diverse set of assets, GVA accomplishes the challenging feat of simultaneously mitigating risk while tapping into vast market upside. For more information, visit www.gvapro.com.
About Decisive Ventures, LLC
Decisive Ventures, LLC ("DV") is a Round Rock, Texas-based multifamily investment firm focused on the Central Texas market. Founded in 2015, DV acquires primarily Class B and C properties of up to 250 units with value-add opportunities. DV’s unique marketing program enables the firm to specialize in off-market deals in submarkets with a greater density of owner-managed properties, which often lack professional management practices or the capital required for improvements. This approach extracts the most value from each project, increasing returns for both DV and its investors. For more information, please contact Tony Garrant – 512-779-6744 or tonygarrant@gmail.com.
About HFF
Holliday Fenoglio Fowler, L.P. (“HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 offices and is 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 sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.