HFF Secures $43M Financing for Apartment Community in Dallas

DALLAS — HFF has secured $43 million in financing for Alexan Fairmount, a 368-unit, Class A apartment community in Dallas’ Oak Lawn neighborhood. HFF worked on behalf of the borrower, Pure Multi-Family REIT LP, to place the 12-year, fixed-rate loan with Cigna Investments. Loan proceeds were used to acquire the property. Alexan Fairmount is situated one block east of the Dallas North Tollway adjacent to the Maple Avenue restaurant district. Completed in 2015, the five-story property wraps around a pool plaza, with additional amenities including an outdoor kitchen and grilling station, gym, tanning studio, dog park, cyber café, electronic vehicle charging stations and an access-controlled parking garage. Alexan Fairmount’s one- and two-bedroom units include keyless entry, 10-foot ceilings, granite countertops, wine racks and stainless steel appliances. John Brownlee and Michael Cosby led the HFF debt placement team representing the borrower.