PORTLAND, ORE. – JLL announced today that it has closed the $116.13 million sale of Riva on the Park, on behalf of Barings, one of the world’s largest diversified real estate investment managers. The property is a 294-unit, transit-oriented residential high-rise prominently located adjacent to the Oregon Health & Science University (“OHSU”) in Portland’s South Waterfront neighborhood.

JLL represented the seller, Barings, on behalf of institutional investors, and procured the buyer, Griffis Residential. The property was acquired free and clear of existing financing.

In addition to its proximity to OHSU, which is undergoing a 1.1 million-square-foot expansion, Riva on the Park is located within steps of the Portland Streetcar, MAX Light Rail and the Portland Aerial Tram. The 22-story, LEED Gold-certified property consists of 294 residential units averaging 811 square feet and more than 13,000 square feet of ground-floor retail. Apartment amenities include granite countertops and plank flooring in kitchens; oversized, energy-efficient windows; full-size washers and dryers; central heat and air conditioning; decks or patios; and stunning city and river views. Common area amenities include a lobby with fireside lounge, eco-terrace with grills, 24-hour fitness center and concierge services.

The JLL Capital Markets team representing the seller was led by Senior Managing Director Ira Virden, an Oregon-licensed real estate salesperson, and Senior Director Carrie Kahn.

SAN FRANCISCO, July 16, 2019 – JLL announces that it has arranged $76.8 million in financing for the development of 1554 Market Street, a 109-unit condominium project located in downtown San Francisco.

JLL worked on behalf of the borrower, Z&L Properties, Inc., to place the five-year, floating-rate construction loan with Barings, on behalf of one of its managed accounts.

1554 Market Street is a fully-entitled project positioned near the intersection of Market Street and Van Ness Avenue directly across from the Van Ness Muni Metro Station in San Francisco’s Hub District. The transit-oriented development’s prime location has earned it a Walk Score® of 99, a Transit Score of 100 and Bike Score of 99 and positions it within eight blocks of more than 400 restaurants and bars. Due for completion in 2021, the property will encompass two 12-story buildings connected by a concrete corridor that will house 109 condominium units situated above a ground-floor lobby and 5,010 square feet of retail space as well as a 28-space subterranean parking garage.

The JLL Capital Markets team representing the borrower included senior director Brandon Roth and senior managing director Charles Halladay.

“The San Francisco condo market continues to be strong with record pricing achieved in the second quarter of 2019,” Roth said. “Lenders recognize that a severe housing shortage combined with employment growth and IPO’s from Uber, Lyft, Pinterest and others will lead to sustained demand from new buyers.”

HOUSTON, TX – October 11, 2018 – HFF announces the sale and acquisition financing for WaterWall Place, a LEED Silver, seven-story luxury multi-housing community in Houston’s Uptown District.

The HFF team marketed the property on behalf of the seller, Hines.  HASTA Capital purchased the offering free and clear of existing debt.  Additionally, HFF worked on behalf of the new owner to secure a fixed-rate acquisition loan through Barings Real Estate, part of Barings LLC, one of the world’s largest diversified real estate investment managers, on behalf of an institutional investor.

The seven-story, 322-unit residential project is situated in the heart of Uptown Houston, centered among the Gerald D. Hines Water Wall Park, the iconic Williams Tower and The Galleria.  Designed by Jackson & Ryan Architects in collaboration with Wallace Garcia Wilson Architects, the 316,287-square-foot signature project was Hines’ first multifamily development in Houston and was completed in 2014.

Kevin Batchelor, Hines senior managing director, said, “WaterWall Place was a significant project for us and the property provides the buyer a first-class asset with an exceptional location.  The project’s premier setting, along with its architectural design and amenities, has resulted in attracting a very affluent renter profile and a successful lease-up with rents above pro forma.”

Rob Little, Head of Real Estate Core Mortgage for Barings added, “We are pleased to add this high-quality multifamily property to our Houston portfolio, consistent with our strategy of lending on properties in walkable locations and population growth centers.  We look forward to expanding our relationship with HASTA Capital.”

The HFF investment advisory team representing the seller included senior managing director Todd Marix, managing director Chris Curry and analyst Estee Ibanez.

HFF’s debt placement team representing the borrower included senior managing director Matt Kafka and managing director Kelly Layne.