HFF ARRANGES $17.3M ACQUISITION FINANCING FOR AUSTIN MULTIFAMILY PROPERTY

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AUSTIN, TEXAS — HFF has arranged $17.25 million in financing for the acquisition of Ten Oaks Apartments in Austin on behalf of Price Realty Corp. The multifamily complex, completed this year, features 192 units that are 97 percent occupied as well as amenities such as a clubhouse, fitness center, resort-style pool, business center and cyber cafe. Ten Oaks is located at 12612 N. Lamar Blvd., about 10 miles north of downtown and in close proximity to Interstate 35 and U.S. 290. John Brownlee of HFF arranged the terms of the three-year, floating-rate loan on behalf of the borrower, Price Realty Corp.

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