HOUSTON--HFF has secured $15 million in financing for the Trails of Ashford, a 514-unit, garden-style multi-housing property in southwest Houston.
Working exclusively on behalf of the borrower, Merillville, Ind.-based Bayshore Properties, HFF placed the 10-year, fixed-rate loan with Jefferies LoanCore LLC.Loan proceeds were used to refinance and recapitalize the asset.
The Trails of Ashford consists of 34 two- and three-story buildings totaling 390,960 square feet. There are nine different floor plans with an average unit size of 751 square feet, and the property features a fitness center, two swimming pools, sand volleyball court, lighted tennis court and limited gate access.
The property is situated on 28.54 acres at 12710 Brant Rock Drive where it intersects with South Dairy Ashford Road just off the Westpark Tollway. It is within 10 miles of both the 610 Loop and the Sam Houston Tollway (Beltway 8), which provide access to all other major highways in and around Houston.
Associate director Jason Bond and real estate analyst Dan Kearns led the HFF debt placement team representing the borrower.
“HFF is very pleased to have assisted Bayshore Properties in securing financing for Trails of Ashford,” Bond says.
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