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
“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
In addition to its exceptional residential communities, Hillwood (www.hillwood.com) is best known for its development of the 17,000-acre
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