DENVER – JLL Capital Markets announced today that it has arranged the refinancing of Advenir on Addison, a 264-unit, garden-style multi-housing property in North Dallas.

JLL worked on behalf of the borrower, Advenir, to secure the seven-year, fixed-rate loan through Freddie Mac. The loan will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo℠ lender. 

Advenir on Addison is located at 17671 Addison Road near the intersection of President George Bush Turnpike and Dallas North Tollway. The property is well supported by retail, dining and entertainment venues, including the Galleria Mall, Village on the Parkway, the Shops at Willow Bend and Valley View redevelopment. Advenir on Addison is also near the Platinum Corridor, one of the DFW metroplex’s largest office corridors, and three of the metro’s largest mixed-use developments: CityLine, Legacy Business Park and Frisco’s $5 Billion Mile. Units include one- and two-bedroom floor plans averaging 923 square feet with amenities such as stainless steel appliances, granite kitchen counters, hardwood and slate flooring, spacious walk-in closets, in-unit washers and dryers, and attached garages for all units. 

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Eric Tupler, Managing Director Josh Simon and Senior Managing Director Andy Scott.

DENVER – JLL announced today that it has arranged financing for Advenir at Legado Ranch, a 360-unit, garden-style apartment complex in the West Texas market of Odessa, Texas.

JLL worked on behalf of the borrower, Advenir, LLC, to secure the seven-year, fixed-rate loan through Freddie Mac. The loan will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo℠ lender.

Advenir at Legado Ranch is situated on nearly 17 acres at 4001 De Morada Drive along the southwestern edge of the Llana Estacado of West Texas. Completed in 2018, the gated property consists of 12 buildings with residential units totaling 326,838 rentable square feet or approximately 908 square feet per unit. Unit amenities include fully equipped kitchens with granite countertops, hardwood floors, walk-in closets, in-unit washers and dryers and patios. Community amenities include a swimming pool, cabana, dog park, playground, clubhouse, media center/movie theatre and fitness center. The property was more than 91% occupied at closing.

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Eric Tupler, Managing Director Josh Simon and Director Matthew Putterman.

DENVER, CO – May 20, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces financing totaling $190.873 million for six apartment communities comprising 1,843 units in Texas, Alabama and Colorado.

The HFF team worked on behalf of the borrower, Advenir, Inc., to secure the seven-year, fixed-rate loans in six separate transactions through Freddie Mac.  Two of the transactions were acquisition financing and the remaining four transactions were refinances from floating- to fixed-rate loans.  The refinances were in line with the borrower’s strategy to mitigate interest rates amid the volatile interest-rate environment.  The fixed-rate conversions took the ongoing LIBOR adjustment risk off the table and ultimately provided the borrower with a reduction in the all-in rate for each property with additional interest-only amortization.  All the loans will be serviced by HFF, a Freddie Mac Optigo℠ lender for Conventional Loans.

“At Advenir, we continually review our portfolio to increase value through interest-rate mitigation,” said Stephen L. Vecchitto, managing director and principal of Advenir, Inc.  “HFF has been a valuable partner in assisting us with our interest-rate mitigation strategy as well as structuring new financing on our acquisitions.”

The properties in the portfolio are: Advenir at Mayfield, a 300-unit property located at 3200 Bromley Place in the West Texas community of Midland; Advenir at The Meadows, a 320-unit property located at 5101 N. A Street in Midland; Advenir at Stone Park, a 480-unit property located at 6160 E. Sam Houston Parkway North in Houston; Advenir at Wynstone, a 258-unit property located at 6464 E. Sam Houston Parkway North in Houston; Advenir at Station 121, a 255-unit property located at 2000 2nd Ave South in Birmingham; and Advenir at Bear Valley, a 230-unit property located at 3550 S. Kendall Street in Denver, Colorado.  The properties averaged 94.8 percent occupied overall.

The HFF team representing the borrower included senior managing director Eric Tupler and managing directors Josh Simon, Cortney Cole, Chip Sykes and director Matthew Putterman.

DENVER, CO – January 28, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces $15.1 million in financing for Advenir at Del Arte Townhomes, a 94-unit multi-housing community in Aurora, Colorado.

The HFF team worked on behalf of the borrower, Advenir, Inc., to secure the seven-year, fixed-rate loan through Freddie Mac’s Green Up Program.  The securitized loan was used to refinance existing floating-rate debt on the property, and will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.  The refinance was a continuation of the borrower’s strategy to mitigate interest-rate risk amid the current rising rate environment.  The borrower was able replace their existing 5.15 percent, floating rate at closing with a 4.25 percent, seven-year fixed rate.  The fixed-rate conversion took the ongoing LIBOR adjustment risk off the table and ultimately provided the borrower with a reduction in the all-in rate with additional interest-only amortization.

Advenir at Del Arte Townhomes is located at 11135 E. Alameda Avenue, which offers nearby access to Interstates 25, 225 and 70.  The property’s 94 townhome-style units are 93 percent occupied and comprise a mix of one- and two-bedroom layouts and features, including attached garages, washers and dryers, and spacious entertainment kitchens.  The property shares common area amenities with neighboring Advenir at Del Arte, a 351-unit community with a variety of loft- and flat-style units.

The HFF team representing the borrower included senior managing director Eric Tupler and managing director Josh Simon.

DENVER, CO – November 6, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces $55.2 million in financing Advenir at French Quarter, a 436-unit multi-housing community in Denver, Colorado.

The HFF team worked on behalf of the borrower, Advenir, Inc., to secure the seven-year, fixed-rate loan through Freddie Mac’s CME Program.  The securitized loan was used to refinance existing floating-rate debt on the property, and will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.

Advenir at French Quarter consists of 436 one- and two-bedroom floorplans within 26 three- and five-story residential buildings.  Located at 3227 South Parker Road, the 95.14-percent-leased property is five miles northeast of the Denver Tech Center, which contains 9.4 million square feet of office space.  Advenir at French Quarter is also within walking distance to the light rail and major transit corridors, including Interstate 25 and 225.  Community amenities include an outdoor pool, sports field, tennis courts, playground, bark park, fitness center and espresso café.

The HFF team representing the borrower included senior managing director Eric Tupler and managing director Josh Simon.

Holliday Fenoglio Fowler, L.P. (HFF) announces financing totaling $172.845 million for five apartment communities comprising 1,534 units in the Denver and Houston metropolitan areas.

The HFF team worked on behalf of the borrower, Advenir, Inc., to secure the seven-year, fixed-rate loans in five separate transactions through Freddie Mac’s CME Program.  The securitized loans were used to refinance existing floating-rate debt on the properties, and will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.  HFF worked with the borrower in a strategy to mitigate interest-rate risk amid the current rising rate environment.  The average rate across the five fixed-rate loans is 4.27 percent with rates spanning from 4.21 to 4.34 percent.  The average rate at the retirement of the LIBOR-based, floating-rate loans was 4.47 percent with rates spanning from 4.26 to 4.86 percent.  The fixed-rate conversions took the ongoing LIBOR adjustment risk off the table and ultimately provided the borrower with a reduction in the all-in rate for each property with additional interest-only amortization.

“We have found this to be an opportunistic time to lock interest rates with fixed-rate loans for stable properties that exhibit a long-term ownership horizon,” said Stephen L. Vecchitto, managing director and principal of Advenir, Inc.  “These properties provide substantial current cash flow and continued market appreciation.  While the original floating-rate debt allowed for the execution of the value-add business plan upon acquisition, the new fixed-rate debt allows for interest rate stability and a longer hold timeframe for the asset.”

The properties in the portfolio are: Advenir at Eagle Creek, a 258-unit property located at 10373 North Sam Houston Parkway East in Humble, Texas; Advenir at Woodbridge Reserve, a 288-unit property located at 15000 W. Airport Boulevard in Sugar Land, Texas; Advenir at Cherry Creek North, a 345-unit property located at 1090 S. Parker Road in Denver, Colorado; Advenir at Cherry Creek South, a 292-unit property located at 1211 S. Quebec Way in Denver, Colorado; and Advenir at Del Arte, a 351-unit property located at 151 S. Joliet Circle in Aurora, Colorado.  The portfolio is 94.57 percent occupied overall.

The HFF team representing the borrower included senior managing director Eric Tupler and managing directors Josh Simon and Cortney Cole.