HFF arranges $4 million financing for Catskill, New York condominium community

The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged $4 million in financing for Catskill Creek Condominiums at Water’s Edge, a 24-unit condominium community in Catskill, New York.

Working on behalf of Tower Management Service, L.P., HFF senior managing director Tom Didio and associate director Michael Klein placed the 24-month, adjustable-rate loan with Webster Bank. Tower Management currently owns and operates more than 2,000 multifamily units in 19 garden apartment communities throughout New York, New Jersey and Pennsylvania.

Catskill Creek Condominiums is located at 1 Marina Drive in Catskill approximately 30 miles south of Albany via Interstate 87. The gated community has three- and four-bedroom units that range in size from 1,500 square feet to 2,598 square feet and feature two and a half baths, one- or two-car garages, central air conditioning, a private balcony off the master bedroom and a rear patio. Community amenities include a swimming pool and dock spaces at the confluence of Catskill Creek and the Hudson River. Approvals are in place to develop 10 additional townhomes. Tower Management Service, L.P. has engaged Weichert Realtors to market and sell the units on an exclusive basis.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.