HFF Closes Sale and Arranges Financing for Fountains at North Port

Published March 28, 2013, 5:18 p.m. EDT

1 Min Read

HFF has closed the $19.7 million sale of and arranged a $14.6 million financing for the Fountains at North Port, a 312-unit, garden-style multihousing community in North Port, Fla.

Processing Content

HFF marketed the property on behalf of the seller. Symcor Capital Properties purchased the property for $19.7 million free and clear of existing debt.

In addition, HFF assisted in securing a 10-year, fixed-rate loan on behalf of the buyer through GE Capital Real Estate. Proceeds from the loan were used to acquire the property.

The HFF investment sales team representing the seller was led by directors Matt Mitchell and Jaret Turkell, and supported by real estate analysts Maurice Habif, Scott Wadler and Zach Nolan.

HFF’s debt placement team representing the buyer was led by director Elliott Throne and associate director Todd Adams.

HFF’s Florida multihousing and land group has closed more than $780 million of multihousing transactions for the 12 months ending Dec. 31, 2012.

MORE FROM NATIONAL MORTGAGE NEWS

Title insurance

Title agent accused of rebranding to evade fraud penalty

First American claims Liberty National's owner changed the company's name immediately after a judge held her firm liable for an erroneous wire transfer.

By Spencer Lee
Technology Reporter

May 8
Earnings

Loandepot files $250 million shelf registration

Lender and servicer Loandepot, reeling from a larger loss in the first quarter, could use the potential funds to cover daily operations or repay debt.

By Andrew Martinez
Reporter

May 8
M&A

eXp expands platform with acquisition of NextHome

Alongside its cloud-based brokerage, the company said the acquisition will transform eXp's existing infrastructure into a multi-model platform.

By Colin McNamara
Reporter

May 8
Servicing

New Cantero escrow ruling backs preemption in split decision

The opinion that supports national banks' ability to avoid paying interest on certain mortgage accounts in New York is unlikely to be the last word.

By Bonnie Sinnock
Capital Markets Editor

May 8
M&A

CrossCountry raises its Two Harbors bid to $12 per share

The latest offer, 70 cents per share higher than previously agreed to, equals the cash proposal made by UWM Holdings to win over Two Harbors' shareholders.

By Brad Finkelstein
Originations Editor

May 8
Employment data

Economy added 115,000 jobs in April despite mixed signals

Employers hired an additional 115,000 workers in April, while unemployment remained unchanged at 4.3%. Despite the positive headline figure, a spike in newly unemployed workers and a rising number of underemployed workers suggests instability under the surface.

By Ebrima Santos Sanneh
Reporter

May 8