DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announces the financing of The Cortona, a 420-unit multi-housing property in the northeast Dallas suburb of Fairview, Texas.
The HFF team worked on behalf of the borrower, Lantower Residential, to secure the 10-year, fixed-rate loan through Allianz Real Estate of America LLC. Loan proceeds were used to refinance existing debt on the property.
The Cortona comprises a blend of 304 garden-style apartments and 116 urban-style lofts averaging approximately 912 square feet. The 15-building property is situated on 17.703 acres at 325 Murray Farm Road just east of Highway 75/Central Expressway. The Cortona’s location between the affluent northern Dallas suburbs of McKinney and Allen places it within the award-winning McKinney and Lovejoy school districts and near the new CityLine mixed-use development at the intersection of the George Bush Turnpike and Central Expressway. The amenity-rich property features high-end interior finishes, a two-story clubhouse, game room, gourmet entertaining kitchen with dining room, bi-level athletic center, 24-hour business center and a resort-style swimming pool enhanced by cascading fountains and waterfalls.
The HFF debt placement team representing the borrower included director De’On T. Collins.
About Lantower Residential
Lantower Residential is a vertically integrated real estate company and subsidiary of H&R Reit specializing in the acquisition and management of multifamily communities in the U.S. The company aims to create real value for its shareholders through a disciplined acquisition and management strategy that facilitates ideal multifamily investments in growth markets. The company focuses on submarkets where it has vast institutional knowledge and applies its proven track record to the acquisition, financing, management and positioning of each individual deal.
About HFF
HFF and its affiliates operate out of 24 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.