HOUSTON--HFF has secured $15 million in financing for the Trails of Ashford, a 514-unit, garden-style multi-housing property in southwest Houston.
Working exclusively on behalf of the borrower, Merillville, Ind.-based Bayshore Properties, HFF placed the 10-year, fixed-rate loan with Jefferies LoanCore LLC.Loan proceeds were used to refinance and recapitalize the asset.
The Trails of Ashford consists of 34 two- and three-story buildings totaling 390,960 square feet. There are nine different floor plans with an average unit size of 751 square feet, and the property features a fitness center, two swimming pools, sand volleyball court, lighted tennis court and limited gate access.
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