WASHINGTON, D.C. — HFF has arranged a $400 million refinancing for a five-property multi-housing portfolio in the Washington, D.C. and New York metropolitan areas.
HFF worked on behalf of Brookfield Real Estate Financial Partners to secure the 7-year, floating-rate loan through M&T, a Fannie Mae DUS lender.
Senior Managing Directors Bob Donhauser and Bill Asbill led the HFF team representing Brookfield.
Donhauser describes the Class B+ apartment properties as well-located. According to reports, the properties include The Avant in Annadale, Va.; The Amberleigh in Fairfax, Va.; The Edgemoore in Alexandria, Va.; Meridian at Bowie in Bowie, Md.; and Grand Adams in Hoboken, N.J.
The properties total 2,600 units with an average 98 percent of occupancy overall.
Donhauser says Brookfield chose to refinance now to take advantage of an attractive rate environment.
“The deal took about six months,” says Donhauser. “It was straightforward and the properties are well managed. There was great sponsorship.”
Brookfield is a global alternative asset manager with approximately $150 billion in assets under management. The company has over a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity.
— Liz Burlingame