LONG BEACH, MS-HFF has arranged a $12.35 million refinancing for Beach Club Apartments, a 220-unit, garden-style multi-housing community in Long Beach, MS.
Working exclusively on behalf of the borrower, Dawn Properties Inc., HFF secured the 10-year, fixed-rate loan through M&T Realty Capital Corporation (Fannie Mae).
Beach Club Apartments is situated on 10.54 acres at 2012 West 2nd St., less than half of a mile from the Gulf of Mexico in Long Beach. The 20-building community, built in 2008, includes 220 units averaging 1,061 square feet each. Community amenities include a fitness center, clubhouse, swimming pool and playground.
The HFF team representing the borrower was led by managing director Travis Anderson and senior real estate analyst Cory Fowler.
Dawn Properties Inc. is involved primarily in the acquisition, development, management, renovation and disposition of multi-housing properties. Founded in 1986, the company has developed more than $1 billion of property with locations in more than 40 markets across 13 states.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
