HFF's Marshall, Throne and Schoenfeldt secure $87.8 million in refinancing

The Miami and New York offices of Holliday Fenoglio Fowler, L.P. (HFF) have secured $87.8 million in refinancing for four multi-housing properties totaling 1,363 units in Florida, Illinois and North Carolina. Working exclusively on behalf of Laramar Group, HFF senior managing director Jay Marshall, director Elliott Throne and managing director Matt Schoenfeldt placed the securitized loans with Freddie Mac (Federal Home Loan Mortgage Corp.). The loans are 10-year, fixed-rate financings priced in the low-to-mid 4% range. The properties involved in this transaction included a 160-unit complex in Boca Raton, Fla.; a 228-unit complex in Clearwater, Fla.; a 694-unit complex in Charlotte, North Carolina; and a 281- unit complex in Harwood Heights, Illinois. "Freddie Mac went above and beyond to provide the most competitive terms to a great, long-time client of HFF's," said Throne. "The transaction allowed Laramar to execute its corporate strategy of paying down a floating-rate line of credit and replacing it with secured long-term debt at incredibly low interest rates," said Marshall.