DALLAS--HFF has secured refinancing totaling $15.5 million for three Lubbock, TX-area multifamily communities: Stone Lake, Savannah Oaks and The Fountains.
Working on behalf of the borrower, HFF placed three separate 10-year loans totaling $15.5 million with Lincoln Financial Group. Each loan has a fixed-rate with five years of interest only.
The communities total 480 units and feature swimming pools, grilling/picnic areas, 24-hour fitness centers, business centers and dog parks. Individual property details are listed below:
- Stone Lake, 162 units, 97 percent occupancy
- Savannah Oaks, 150 units, 97 percent occupancy
- The Fountains, 168 units, 97 percent occupancy
Associate director De'On Collins and senior managing director John Brownlee led HFF's debt placement team.
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