DALLAS—Amalfi Stonebriar, a 395-unit, class A multifamily community in Frisco, has traded hands.
The buyer, Pure Multi-Family REIT LP, worked with HFF to arrange $45 million in financing. The seller was undisclosed.
Working on behalf of the borrower, HFF placed the 12-year, fixed-rate loan with TIAA-CREF. Loan proceeds were used to acquire the property. Reps with HFF were unable to offer further comment by press time.
Amalfi Stonebriar is located at 5725 Town & Country Blvd. across from the future headquarters of Toyota and FedEx, as well as the new Liberty Mutual office campus. Proximate to both the Sam Rayburn Tollway and the Dallas North Tollway, the property is near Stonebriar Country Club and the Shops at Legacy.
Completed in 2014, the property has units ranging from 603 to 1,689 square feet each with an overall mix of 69 percent one-bedroom and 31 percent two-bedroom units. Community features include a swimming pool with sun deck, 24-hour fitness center, grilling areas, resort-style community courtyard and business center. The asset is 94 percent occupied.
Senior managing director John Brownlee and associate director Michael Cosby led the HFF debt placement team representing the borrower.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
