Commercial Real Estate Direct Staff Report

Holliday Fenoglio Fowler has originated $156 million of Freddie Mac financing for eight apartment properties with 2,306 units owned by NTS Realty Holdings LP.

The debt has a 10-year term and pays a coupon of 5.4 percent. It was used to refinance a total of $140 million of debt that NTS, headquartered in Louisville, Ky., had from Northwestern Mutual Life Insurance Co.

Freddie funded the loans through its capital markets execution, or CME program, meaning it plans on securitizing them.

The debt is comprised of eight cross-collateralized loans. Following is a list of the individual mortgages and their collateral properties:

- $30.6 million for Park Place, with 464 units in Lexington, Ky.;

- $17.9 million for Willows of Plainview, with 310 units in Louisville, Ky.;

- $10.9 million for Willow Lake, with 207 units in Indianapolis;

- $13.9 million for Castle Creek, with 276 units in Indianapolis;

- $11.4 million for Lake Clearwater, with 216 units in Indianapolis;

- $16.8 million for the Grove at Swift Creek, with 240 units in Midlothian, Va.;

- $27 million for the Grove at Richland, with 292 units in Nashville, Tenn., and

- $27.7 million for the Grove at Whitworth, with 301 units in Nashville.

NTS owns 14 apartment properties with 4,029 units, seven office buildings with 670,000 square feet and three retail properties with 210,000 sf.

Comments? E-mail Orest Mandzy or call him at (215) 504-2860, Ext. 211.