HFF Closes Multifamily Sale

CHICAGO, IL – HFF announced late last week that they had both closed the sale of and secured financing for The Communities of Ascot Glen, a multifamily development at 6060 Laurel Lane on Highway 83 in suburban Willowbrook. The 712 homes stand about 20 miles southwest of downtown Chicago. HFF handled the sale for an institutional owner. TGM Associates purchased the property, now known as the Willowbrook Apartments, for $101 million. HFF also secured a $75 million, 10-year, 3.745 percent fixed-rate Fannie Mae loan to help acquire the property through M&T Realty Capital Corporation.