Princeton, Texas – March 10, 2023 – HLC Equity, a leading private equity firm specializing in real estate investment and management, has successfully refinanced Southgate Apartments, a 156-unit multifamily property in Princeton Texas into long-term debt. Originally a lease up investment, Southgate Apartments exceeded expectations by reaching occupancy much quicker than anticipated. This result, combined with foresight of capital market unease, enabled HLC Equity to pursue long-term debt in less than a year after taking ownership.
In the face of turbulent and unpredictable times in the market, HLC Equity’s proactive approach to secure long-term financing resulted in positive leverage, balance sheet health, cash flow, and the ability to make future distributions to our valued investors.
Daniel Farber, CEO of HLC Equity commented “Our firm has a wealth of experience navigating a variety markets, and we were able to proactively secure favorable financing for Southgate Apartments. Our internal team, along with Berkadia, was able to facilitate the deal. We are excited about the positive impact this will have for our valued partners and investors.”
“Fannie Mae rewarded HLC Equity for the strong lease-up of the property with long term, accretive financing that provides them with several years of interest only and a higher amortization than typically offered in the marketplace. Additionally, we were able to lock in the rate at a time when there was a drop off in the treasury which helped save on debt service costs and gives HLC Equity stability in a turbulent capital markets environment,” added Phil Brannigan, Director of Mortgage Banking at Berkadia.
About HLC Equity (www.hlcequity.com)
HLC Equity is a multi-generational real estate investment management company, with over 70 years of experience and an expansive real estate portfolio. Their entrepreneurial spirit of a startup is juxtaposed with institutional level execution. HLC Equity utilizes its real estate portfolio to carry out its mission of building thriving communities. For more information about HLC Equity, please visit www.hlcequity.com or email press@hlcequity.com
