HFF announces $18.7 million financing for Newport News apartment community
- March 21, 2018
Holliday Fenoglio Fowler (HFF) has secured $18.7 million in acquisition financing for Meadow View Townhomes, a 400-unit, garden-style apartment community in Newport News.
HFF said it worked on behalf of the borrower, Brick Lane and Red Starr Investments, to secure the 10-year, fixed-rate acquisition loan through Freddie Mac’s CME Program. The securitized loan will be serviced by HFF, a Freddie Mac multifamily approved seller/servicer for conventional loans.
Meadow View Townhomes is a 77-building property with one, two-, three- and four-bedroom units totaling 345,660 square feet. Renovated in 2017, the property is situated on 26 acres at 4801 Marshall Ave. just off Hampton Roads Beltway (Interstate 664). It’s a short distance from major employment drivers, including Langley Air Force Base and the Newport News Shipyard, as well as the Coliseum Central commercial corridor.
On-site amenities include two laundry facilities in addition to in-unit washer and dryer hookups in each unit, a clubhouse, playground and on-site parking.