DALLAS--HFF has secured financing commitments for The Village Apartments, a 7,000-unit city-within-a-city multifamily housing community in Dallas.
The financing included a single-sponsor securitization and a floating-rate credit facility. All financing commitments were provided by Freddie Mac, and the loans will be serviced by HFF through its Freddie Mac Program Plus Seller/Servicer program. HFF was unable to offer additional comments about the transaction.
HFF worked on behalf of a joint venture between Dallas-based Lincoln Property Co.; Invesco Real Estate, acting on behalf of an institutional client; and Crow Holdings. Financing proceeds were used to retire an existing Freddie Mac loan facility and to provide additional capital for future development.
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