HFF has worked on behalf of Billingsley Co. to obtain $49 million in financing for Gramercy On The Park. The Class A multifamily complex is located at 4755 Gramercy Oaks Drive in Dallas.
The midrise community, which is 96 percent occupied, was built in 2011. It includes one- and two-bedroom units averaging about 900 square feet.
The 10-year, fixed-rate permanent loan was secured through the Federal Home Loan Mortgage Corp. It was used to pay off an existing construction loan. HFF will service the securitized loan through its Freddie Mac Program Plus Seller/Servicer program.
The HFF team representing Billingsley Co. was led by senior managing director Trey Morsbach.