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Banking Acquisition financing secured for The Lancaster, White Buffalo apartments

Acquisition financing secured for The Lancaster, White Buffalo apartments

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Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

A. Lee Graham

Reporter

Holliday Fenoglio Fowler LP has arranged financing for The Lancaster and White Buffalo, two Fort Worth apartment communities operating and managed as one property.

HFF worked on behalf of the borrower, Bell Partners Inc., to secure the seven-year, fixed-rate acquisition loan through New York Life Insurance Co. 

The Lancaster and White Buffalo, at 2901 Bledsoe St. and 1020 Currie St., respectively, are near the West Seventh Street Corridor and about two miles from downtown.

Completed in 2013, The Lancaster offers 253 units averaging 810 square feet. Serving the four-story building is a parking garage with 402 total spaces – 332 covered and 70 uncovered. The three-story White Buffalo offers 63 units averaging 758 square feet.  The properties share 3.73 acres, as well as a wired business center, spa-inspired poolside fitness club and yoga studio, and gated accessed conference room, among other amenities.

Leading HFF’s debt-placement team in representing Bell Partners were senior managing director Mona Carlton and real estate analysts D.J. Meagher and Chad Russell.

Bell Partners Inc. is a private real estate company focused on acquiring and managing apartment communities in the Northeast, Mid-Atlantic, Southeast and Southwest United States. Holliday Fenoglio Fowler LP and HFF Securities LP are owned by HFF Inc. HFF oversees 23 offices nationwide and provides commercial real estate and capital markets services to the U.S. commercial real estate industry.

lgraham@bizpress.net

 

 

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