Charlotte, N.C. — Holliday Fenoglio Fowler (HFF) has arranged $9.47 million in Freddie Mac funds for the refinancing of a student housing community near the University of North Carolina - Charlotte (UNCC) in Charlotte. Tim Joyce of HFF's Chicago office secured the loan on behalf of a joint venture between Harrison Street Real Estate Capital and The Preiss Company. The loan carries a 10-year term and a 5.97 percent fixed interest rate.
University Club is a 130-unit property located at 10035 Dabney Drive, a half-mile from UNCC's campus. It consists of all four-bedroom/four-bathroom units. Community amenities include a clubhouse, a fitness center, a computer center, a swimming pool, basketball and volleyball courts, and tanning beds. Occupancy was 94 percent at the time of closing.
HFF will also service the loan through its Freddie Mac Program Plus seller/servicer program.
— Coleman Wood