Carl Cronanis editor of RealEstate Florida.
NEW YORK-HSBC Bank USA has arranged $350 million in Freddie Macloans to DRA Advisors LLC for the purchase of a 22-propertyapartment portfolio. The properties, totaling 4,781 units and arelocated in Georgia, North Carolina, South Carolina andTennessee.
"HSBC's execution of this complex transaction, under a veryaggressive time frame, was critical in facilitating our acquisitionof this portfolio," Brian Summers, managing director of DRAAdvisors in New York City, states in a news release. Summers wasunavailable for comment Tuesday and no additional details onacquired properties were released.
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