Suburban Homes Obtains $47M MF Loan
Sep 24, 2013
Denver-based Suburban Homes Inc. has snagged $47 million in financing for its Regency Park Apartments, a 528-unit, class A, multifamily complex. The borrower worked with HFF's Austin office, which arranged the fixed-rate financing through JP Morgan Chase Bank NA
The complex is at 401 Little Texas Lane, between South Congress Avenue and Interstate 35 on Austin's south side. The 10-year-old property is 98% leased, and has averaged 97% occupancy throughout its existence
The ownership's focus on community and taking care of its tenants has created a very friendly atmosphere, earning rave reviews from the residents who reward the management with long term loyalty. This made the asset all the more attractive to lenders," says HFF senior managing director Douglas Opalka. Opalka and HFF associate director Robert Wooten led the team representing Suburban Homes Inc.