Wednesday, February 23, 2011

HFF arranges $38 million in refinancing through Freddie Mac for Tampa area multi-housing communities

MIAMI, FL – HFF announced today that it has arranged refinancing totaling $38.0 million through Freddie Mac for The Addison (top left photo) and Courtney Trace Apartments (lower right photo) in Brandon, Florida.

HFF worked on behalf of a partnership between Case Pomeroy Properties and ContraVest to secure the two seven-year securitized loans, which will refinance construction loans originated when the properties were developed in 2006 and 2007. 

The loans, both with interest rates below five percent, will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.  

The Addison and Courtney Trace are located at 2516 Annapolis Way and 1131 Courtney Trace Drive respectively, close to the Westfield Brandon Mall, Interstate 75 and the Lee Roy Selmon Expressway in Brandon.

  Both communities feature one-, two- and three-bedroom units and community amenities such as a fitness center with towel service, resort-style pool, tanning studio, sundeck area with grills, pet walk and care stations, and the security of a gated community.

The HFF team representing the borrower included director Elliott Throne and managing director Jim Cadranell.

Based in New York, New York and Jacksonville, Florida, Case Pomeroy Properties is a private company holding interests in real estate projects primarily in the southeastern United States. 

ContraVest is a private multi-housing development, construction, and property management company that was founded in 1986 and is based in Altamonte Springs (Orlando), Florida.

Elliott P. Throne, HFF Director, (305) 421-6549,
Kristen R. Murphy, HFF Associate Director, Marketing, (713) 852-3500,,

No comments: