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HFF inks $23m refi deal.

The New York office of Holliday Fenoglio Fowler, L.P. has arranged a $23.785 million refinancing for South Terrace at Auburn Apartments, a 328-unit, Class A multifamily apartment complex in Durham, North Carolina.

HFF managing director Robert Delitsky worked on behalf of the borrower, Auburn Apartments, LLC, to secure the ten-year, 5.32% fixed-rate securitized loan through the New York City office of GMAC Commercial Mortgage Corporation.

The borrowing entity is comprised of K & S Auburn, LLC of Westbury. New York, led by Edward Kalikow and Eugene Shalik, and EYC Companies of Raleigh, North Carolina, led by Ellis Coleman.

HFF arranged the construction loan in 2001, which was then converted to a permanent loan through GMAC Commercial Mortgage Corporation.

Completed in 2003, South Terrace at Auburn Apartments is currently 92% occupied. Auburn Apartments, LLC, is a New York joint venture formed by Kalikow and Shalik of K&S Realty Ventures, LLC and Colman of EYC Companies, LLC.
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Title Annotation:Finance; Holliday Fenoglio Fowler L.P.
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1U5NC
Date:Jan 19, 2005
Words:158
Previous Article:Melody & Company completes triple feat.
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