DENVER, CO – HFF announces the $23.45 million refinancing of The Standard, a 134-unit apartment community in Scottsdale, Arizona.
The HFF team worked on behalf of the borrower, The Sunset Group, to secure the 10-year, fixed-rate loan through Freddie Mac. The securitized loan, which is being used to replace existing construction financing, will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.
The Standard is located at 6811 E. Main Street at the entrance of the Hotel Valley Ho, a Frank Lloyd Wright-inspired, Four Diamond hotel. Completed in 2016, the community is situated within Old Town Scottsdale’s Arts District, which places it within walking distance to more than 100 art galleries, boutiques and five-star restaurants. In addition to the core location, The Standard’s amenities include a resort-style swimming pool with an outdoor kitchen, private cabanas, rooftop terrace, state-of-the-art fitness center, contemporary clubhouse and access to Hotel Valley Ho’s on-site amenities. Units feature quartz countertops, stainless steel appliances, wood or ceramic wood-plank flooring, nine-foot ceilings, and full-sized washers and dryers.
The HFF debt placement team representing the borrower included managing director Josh Simon, senior director Brad Miner and director Matthew Stewart.
“HFF was an invaluable resource in helping us execute on our financing needs,” said JL Singer, principal and senior vice president at The Sunset Group. “We look forward to leveraging HFF’s indispensable offerings and growing our portfolio together.”
Holliday GP Corp. ("HFF") is a commercial mortgage banker licensed with the Arizona Department of Financial Institutions, License Number CBK 0950288 and NMLS Number 1524298.
About The Sunset Group: The Sunset Group is a leading real estate firm, specializing in acquisitions and operations of luxury commercial and residential properties in major cities across the United States. To learn more, please visit sunsetgroup.com
About HFF: HFF and its affiliates operate out of 26 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. Holliday Fenoglio Fowler, L.P. is the approved Freddie Mac Seller/Servicer. 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.