FLORHAM PARK, NJ-Holliday Fenoglio Fowler LP has arranged a $39.3-million refinancing for a four-property multi-housing portfolio in New Jersey for owner Hekemian & Co. The 10-year, fixed-rate loans were placed with Freddie Mac, and HFF will service the loans through its Freddie Mac Program Plus Seller/Servicer program.
“We provided the borrower with the ability to lock in favorable long-term interest rates on a portion of their portfolio that they wished to refinance,” says HFF senior managing director Thomas Didio. “We are happy to have played a role in consummating this transaction for the borrower with Freddie Mac.”
The properties included in the financing are: Summit Manor at 54 Berkshire Place in Hackensack, NJ; Oak Terrace at 7a S. Lake Dr. in Hackensack, NJ; Pompton Hills at 615 Hamburg Turnpike in Pompton Lakes, NJ; and Radnor Manor Apartments at 15-60 Pollet Dr. in Fair Lawn, NJ.
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