HFF Secures $15.5M for Refis in Lubbock
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The Fountains has 168 units and is 97 percent occupied.
DALLAS–HFF has secured refinancing totaling $15.5 million for three Lubbock, TX-area multifamily communities:Stone Lake, Savannah Oaks and The Fountains.
Working on behalf of the borrower, HFF placed three separate 10-year loans totaling $15.5 million with Lincoln Financial Group. Each loan has a fixed-rate with five years of interest only.
The communities total 480 units and feature swimming pools, grilling/picnic areas, 24-hour fitness centers, business centers and dog parks. Individual property details are listed below:
