GlobeSt.com EXCLUSIVE: $100-Mil Refinancing Trailing $73.7 Mil in Sales

FRISCO, TX-A $100-million refinancing of up to 18 multifamily holdings is in the works for Hall Financial Group of Frisco, a repositioning that comes after eight months of dispositions that raked in $73.7 million from 11 privately held investment companies.

It wasn’t a fire sale by any means, Mike Jaynes, Hall’s senior vice president of acquisitions and dispositions, tells GlobeSt.com. Everything that was on the “to go” list is gone. In all, 12 complexes, totaling 3,100 units, in Arizona. Florida, Indiana, Michigan, Tennessee and Texas are in the hands of 11 private investors.

Jaynes said the refinancing and dispositions are the result of last year’s review of the communities, which totaled 14,000 units. It’s been a case of “taking advantage of the lower interest rate environment and the multifamily-hungry environment” that have jumpstarted the portfolio adjustment, he explains.