FORT LAUDERDALE, FL-As the capital markets continue to thaw, Fannie and Freddie are seeing some refis land with other lenders. The Plantation Colony Apartments in Plantation is one of them.

HFF arranged $23.5 million in financing for the 256-unit multifamily community, working with the borrower to secure the seven-year, fixed-rate loan through Western National Life Insurance Co. Loan proceeds were used to recapitalize the property. HFF senior managing director Paul Stasaitis led the refi.

“The agency avenue is by far the dominant source of capital for the multihousing industry,” Stasaitis tells GlobeSt.com. “The further you go down from the maximum leverage, the more interest you’ll get from other sources beyond the agencies. Lender interest was high on this property, and a life company execution was the most compelling choice.”