HFF Arranges $19.6 Million in Financing for University of Alabama-Area Property

Tuscaloosa, Ala. — Loan proceeds refinanced original construction debt.

Tuscaloosa, Ala. — HFF has arranged $19.6 million in financing for The Bluff at Waterworks Landing, a newly constructed off-campus student housing community serving the University of Alabama in Tuscaloosa. HFF worked on behalf of Ellis-Trick Multifamily to place a 10-year, fixed-rate loan through Freddie Mac's CME Program. Loan proceeds were used to refinance the original construction debt on the 162-unit, 308-bed student housing property. The Bluff at Waterworks Landing is located less than one mile from the University of Alabama campus. Adam Herrin led the HFF team.

 

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