Holliday Fenoglio Fowler Secures Three Refinancings Through New York Life Investment Management.Business Editors CHICAGO--(BUSINESS WIRE)--Oct. 22, 2003 The Chicago office of Holliday Fenoglio Fowler, L.P. secured the refinancings for three multifamily properties through New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Life Investment Management: Hickory Oaks Apartments in Lansing, Illinois Lansing is a village in Cook County, Illinois, USA. Lansing is a southern suburb of Chicago. It is located 6.9 miles from Chicago city limits at 138th Street. It is 25.6 miles from Downtown Chicago The population was 28,332 at the 2000 census. for $4.50 million, Oak Crest Apartments in Munster, Indiana Munster is a town in Lake County, Indiana, United States. The population was 21,511 at the 2000 census. History The earliest known inhabitants of the area were the Potawatomi. for $3.5 million, and Willowbrook Apartments in Clarendon Hills, Illinois Clarendon Hills is a village in DuPage County, Illinois, United States. The population was 7,610 at the 2000 census. Geography Clarendon Hills is located at (41.796030, -87.955960)GR1. for $5.2 million. Senior managing director Michael Kavanau arranged all three of the fifteen-year, 4.75%, fixed-rate financings totaling $13.20 million on behalf of the borrower. Willowbrook Apartments is located at 7440 Tennessee Drive in Clarendon Hills, Illinois, approximately 22 miles west of Downtown Chicago. Interstate 55, a main thoroughfare to Chicago is within two miles. The property has 140 multifamily units and has an occupancy rate Noun 1. occupancy rate - the percentage of all rental units (as in hotels) are occupied or rented at a given time pct, per centum, percent, percentage - a proportion in relation to a whole (which is usually the amount per hundred) in the low 90s. Hickory Oaks Apartments is located at 18346 Torrence Avenue in Lansing, Illinois. Downtown Chicago is 25 miles northwest via Interstates 80 and 94, which both have direct access to the property by Torrence Avenue. The property has 138 units and has an occupancy rate in the high 90s. Oak Crest Apartments is located at 8601 Manor Avenue in Munster, Indiana, which is approximately 28 miles southeast of Downtown Chicago. Access to both Interstates 80 and 94 to Chicago are within two miles. The property has 112 multifamily units and its occupancy rate is in the high 90s. "The borrower had very specific requirements for these refinancings and HFF HFF Hochschule für Fernsehen und Film München (Germany) HFF Heartland Film Festival HFF Hardy Fern Foundation HFF Half Forward Flank (football position) HFF Horizontal Flute Factor was able to successfully identify several lenders that could meet the borrower's needs," said Kavanau. "New York Life Investment Management won based on flexibility and pricing. They found these transactions attractive because of the low 65% LTV LTV See: Loan-to-value ratio and the 15-year amortization." With 17 offices nationwide, HFF is one of the country's largest commercial real estate capital intermediaries, and the only firm that provides its clients with a complete menu of capital solutions for each assignment from its integrated platform of debt, private equity, structured finance and investment sales. Since 1998, the firm has capitalized more than $70 billion in all markets and property types. |
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