HFF Secures $15M in Financing for 514-Unit Apartment Complex in Houston

HOUSTON — HFF has secured $15 million in financing for the Trails of Ashford, a 514-unit apartment property in southwest Houston. HFF worked on behalf of the borrower, Bayshore Properties, to secure the 10-year, fixed-rate loan with Jefferies LoanCore LLC. Loan proceeds were used to refinance and recapitalize the asset. The Trails of Ashford consists of 34 two- and three-story buildings totaling 390,960 square feet. There are nine different floor plans with an average unit size of 751 square feet. The property features a fitness center, two swimming pools, sand volleyball court, a lighted tennis court and limited gate access. The property is situated on nearly 29 acres at 12710 Brant Rock Drive. The property is within 10 miles of both the 610 Loop and the Sam Houston Tollway (Beltway 8), which provides access to all other major highways in and around Houston. Jason Bond and Dan Kearns led the HFF debt placement team representing the borrower.