News Article | 5/5/2010

HILLWOOD ACQUIRES $38 MILLION RESIDENTIAL LOAN

 

DALLAS, Texas (May 5, 2010) – Hillwood, a Perot company, has purchased a $38 million performing loan from a national residential lender. The loan is secured by five partially developed master-planned communities and two golf courses in Georgia and Texas. The loan collateral within the communities includes more than 800 platted single-family lots and 4,000 planned residential acres.

      “Hillwood is actively pursuing acquisitions of residential loans throughout the country,” said Fred Balda, president of Hillwood Residential. “The purchase of these loans is a natural extension of our core business. Our access to capital and our experience as a residential lot developer give us the unique ability to underwrite and close transactions in a quick and efficient manner.

      “In this deal, we quickly became comfortable with the borrower, its business plan, and the value and positioning in their respective markets. Our familiarity with those markets, as well as our understanding of the development process, allowed us to move from offer to close in just 45 days.”

      Hillwood is one of the top residential and commercial developers and investors in the United States. The company owns more than 30 residential communities and four golf courses across the country, as well as a luxury home development in Costa Rica. Hillwood has delivered close to 20,000 single-family lots over the past two decades since it began in 1988.        

      In addition to its exceptional residential communities, Hillwood (www.hillwood.com) is best known for its development of the 17,000-acre AllianceTexas project, located 15 miles northwest of DFW Airport; the $420-million American Airlines Center and Victory district near downtown Dallas; and the 2,000-acre AllianceCalifornia development near Los Angeles. The company’s developments currently house facilities for 65 companies listed on either the Fortune 500, Global 500 or Forbes List of Top Private firms.

       

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