Friday, February 06, 2015

HFF Arranges Financing on Two FW Complexes

HFF has arranged acquisition financing for The Lancaster and White Buffalo, two class A multi-housing properties that operate and are managed as one in Fort Worth.

Th two properties, in Fort Worth's West 7th Corridor, operate and are managed as one
HFF worked exclusively on behalf of the borrower, Bell Partners, to secure the seven-year, fixed-rate acquisition loan through New York Life Insurance Co.
The Lancaster is located at 2901 Bledsoe St., and White Buffalo is located at 1020 Currie St., two blocks from University Drive. Both properties are in the West 7th Corridor about three miles from Texas Christian University and two miles from downtown Fort Worth.
Completed in 2013, The Lancaster has 253 units averaging 810 square feet. The four-story building has a parking garage with 402 spaces -- 332 covered and 70 uncovered. The three-story White Buffalo was completed in 2012 and consists of 63 units averaging 758 square feet. The Lancaster and White Buffalo share 3.73 acres in addition to community amenities, including a wired business center, spa-inspired poolside fitness club and yoga studio, trellised outdoor dining and grilling areas, resort-style pool with poolside cabanas and fireplace, recycling center, gated-access conference room and a private courtyard.
Senior managing director Mona Carlton and real estate analysts DJ Meagher and Chad Russellled the HFF debt placement team representing Bell Partners.
Reps with HFF were unable to offer more details by press time.

Anna Caplan, GlobeSt