TAMPA, FL—Wildwood acres, a 340-unit multifamily community in Tampa, FL, has won the trust of lenders. The owner inked a $16.4 million refi on the multifamily property.

HFF helped owner secure a seven-year, 2.42% adjustable-rate loan through Freddie Mac's CME Program. HFF will service the securitized loan through its Freddie Mac Program Plus Seller/Servicer program. HFF director Elliott Throne and associate director Todd Adams from HFF's Miami office, along with local market support from director Matt Mitchell in HFF's Tampa office, led the debt placement team.

"While some borrowers are locking in long-term, fixed-rate financings, others are taking great advantage of Freddie's seven-year, adjustable rate loan structure," says Throne. "These loans offer great starting rates—in the mid-2% range with the expectation to stay low for the next few years—and very flexible prepayment schedules.”