HFF ARRANGES FINANCING FOR APARTMENT COMPLEX IN METRO DALLAS
PLANO, TEXAS — HFF has arranged financing for The Preserve at Arbor Hills in Plano. HFF worked on behalf of the borrower, Pure Multi-Family REIT LP, to secure the seven-year loan through Northwestern Mutual. Loan proceeds were used to acquire the property. The Preserve at Arbor Hills is located at 7001 W. Parker Road next to the Arbor Hills Nature Preserve and 21 miles north of downtown Dallas. The property is 97 percent leased and includes 330 one-, two- and three-bedroom units averaging 1,006 square feet. The complex was built in 1998. Amenities include a pool, spa, gym, picnic areas, business center and coffee bar. John Brownlee led the HFF team representing the borrower.