GREENWOOD VILLAGE, COLO. — Holliday Fenoglio Fowler (HFF) has secured $87.8 million from Freddie Mac for the refinancing of a four-property multifamily portfolio. The borrower is Greenwood Village-based Laramar Group. The securitized loans carry 10-year terms with fixed interest rates in the low-to-mid 4 percent range.
The portfolio contains a total of 1,363 units. The properties include Waterford Lakes Apartments, a 694-unit community located in Charlotte, N.C.; The Mont Clare at Harlem Avenue, a 281-unit community located in Harwood Heights, Ill.; Bay Park Luxury Apartment Homes, a 228-unit community located in Clearwater, Fla.; and Villa Oceana Luxury Waterfront, a 160-unit community located in Boca Raton, Fla.
“The transaction allowed Laramar to execute its corporate strategy of paying down a floating-rate line of credit and replacing it with secured, long-term debt at incredibly low interest rates,” said Jay Marshall, senior managing director of HFF, in a statement.
Marshall partnered with HFF's Elliott Throne and Matt Schoenfeldt to arrange the transaction.
— Coleman Wood