HFF ARRANGES $39.4M IN ACQUISITION FINANCING FOR D.C. APARTMENTS

WASHINGTON, D.C. — HFF has advised on the equity and debt capitalization totaling $39.4 million for the acquisition of Wingate Apartments, a 714-unit apartment community located at 4660 Martin Luther King Jr. Ave. S.W. in southwest Washington, D.C. The property consists of two components: the 385-unit Vista at Wingate, which is composed of three high-rise buildings, and the 329-unit Gardens at Wingate, a garden-style community. Brenden Flood, Cary Abod, Alan Davis, Dave Nachison and Bret Thompson of HFF arranged the debt and equity financing on behalf of the borrower, CIH Ventures Inc. HFF arranged a $27.6 million, 10-year Fannie Mae loan through M&T Bank, along with $8.5 million in equity through The Zitelman Group, $1.8 million from CIH principals and $1.5 million from a CIH private syndicate.