DALLAS-AMLI Residential Properties has obtained a $23.1 millionloan from Freddie Mac to refinance an existing agency loan for AMLIat Bryan Place, a 420-unit, class A apartment property neardowntown.
The seven-year, adjustable-rate loan was placed by Mona Carlton,a senior managing director with HFF’s local office, and LukeVanderpoel, an analyst with HFF. The loan has a 65% loan-to-value,according to Vanderpoel. It is based off of LIBOR, and the spreadis undisclosed.
“AMLI at Bryan Place is excellent real estate with a strongsponsor,” Carlton says, adding that both Fannie Mae and Freddie Macquoted the deal. However, Freddie Mac was able to be “a little moreaggressive on pricing” because it held the existing, maturing loanon the property.
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