HFF Announces $26.75M Financing for Garden-style Apartments in the Orlando MSA

9/5/17

Holliday Fenoglio Fowler, L.P. (HFF) announces the $26.75 million acquisition and bridge financing for Village at Town Center, a 240-unit, garden-style apartment community located in the Central Florida community of Davenport, Florida, within the Orlando MSA.

The HFF team worked on behalf of Beachwold Residential (Beachwold) to secure the acquisition and bridge loan, which was provided by NXT Capital.

Village at Town Center is located at 2000 Village Boulevard within the Reunion Resort & Club and Champions Gate submarket proximate to Walt Disney World. Completed in 1999, Beachwold acquired all of the units within the fractured condominium community with plans to renovate the remaining units, install an institutional management team and relaunch the property, positioning it to compete against newer vintage assets in the market. The condo association was also recently terminated, providing the Beachwold with operational upside.

The HFF debt placement team included managing director Elliott Throne and senior managing director Mona Carlton.

“NXT Capital came through with a very attractive loan that allowed Beachwold to acquire another prime property where they can apply their value-add expertise to bring residents a top-quality experience," Throne stated.

About Beachwold Residential

Beachwold Residential is an experienced multi housing developer and operator and boasts a track record that includes a portfolio of over 15,000 units, valued at over $1.5 billion. Guided by Gideon Friedman, Beachwold has grown exponentially since 2010, acquiring over 10,000 units across 38 properties. This success has been driven by the its value-add business model and local expertise in which their vertically integrated property management arm boasts over 20 years of experience on Beachwold assets. Beachwold presently controls 60 properties and over 15,000 multi-family units in Connecticut, Texas, Florida, Virginia, New Jersey, Maryland and Tennessee. Visithttp://www.beachwold.com/ for additional information.

About NXT Capital

NXT Capital’s Real Estate Finance group primarily serves experienced real estate investors. It provides non-recourse first mortgages of $10 to $40 million for major-market properties with initial DSC greater than 1.0X. NXT Capital provides structured financing solutions through its Real Estate Finance and Corporate Finance groups, originating transactions on a national basis. See www.nxtcapital.com.

About HFF

HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

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