DEAL MAP

HOUSTON, TX – November 12, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces financing totaling $800.45 million for a 23-property multifamily portfolio consisting of 7,289 units across eight states.

The HFF team worked exclusively on behalf of Starlight Investments, a Toronto, Canada-based real estate investment and asset manager, and its closed-end fund, Starlight U.S. Multi-Family (No. 5) Core Fund (TSXV: STUS.A/STUS.U).  The loan was originated as a Freddie Mac Structured Pool Transaction with five, six and seven-year loan terms and included both fixed- and floating-rate components.  Additionally, the loan allowed ultimate flexibility with collateral release provisions and varying prepayment windows.  This transaction also took advantage of Freddie Mac’s index lock program, allowing the sponsor to lock the underlying rate several months prior to closing.  Freddie Mac’s Structured Pool Transactions target large, single-sponsor portfolios and provide enhanced structuring to meet the borrower’s specific needs.  The master note, which is secured by the cross-collateralized pool of 23 properties owned by Starlight U.S Multi-Family (No. 5) Core Fund, will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer.

The 23 Class A properties are located in the Atlanta, Austin, Charlotte, Dallas, Denver, Houston, Las Vegas, Nashville, Orlando, Phoenix, Raleigh, San Antonio and Tampa markets.  The average year of construction for the portfolio is 2012, and the properties boast an average occupancy of 93 percent overall.  Nearly half of the units (47.5 percent) were financed under Freddie Mac’s Green Advantage program, which help finance energy- and water-saving improvements that help lower operating costs for buildings, keep utility costs low and protect the environment.

The HFF debt placement team representing the borrower included senior managing director Matt Kafka, managing director Campbell Roche and analysts Matthew Williamson, Tolu Akindele and Wilson Bauer.

“The Starlight U.S. Multi-Family (No. 5) Core Fund portfolio comprises 23 institutional-quality assets located in strong growth markets across the U.S.,” Kafka said.  “Given the high-performing nature of the assets and diversity of the income stream, Freddie Mac’s Structured Solutions Group was able to customize an incredibly flexible and attractive debt execution.”

“This transaction was tailored to meet the unique needs of this borrower and the complex nature of this portfolio, which is exactly the purpose of the Structured Pool Transaction offering,” said Lauren Garren, vice president of Production & Sales at Freddie Mac Multifamily.  “The Structured Solutions Group worked closely with Freddie Mac’s regional teams on this multifaceted and complex transaction, and it would not have been possible without close collaboration with our strong partners at HFF and Starlight.  We look forward to continuing to work with these partners to devise solutions to meet the needs of borrowers.”

DENVER, CO – November 6, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces $55.2 million in financing Advenir at French Quarter, a 436-unit multi-housing community in Denver, Colorado.

The HFF team worked on behalf of the borrower, Advenir, Inc., to secure the seven-year, fixed-rate loan through Freddie Mac’s CME Program.  The securitized loan was used to refinance existing floating-rate debt on the property, and will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.

Advenir at French Quarter consists of 436 one- and two-bedroom floorplans within 26 three- and five-story residential buildings.  Located at 3227 South Parker Road, the 95.14-percent-leased property is five miles northeast of the Denver Tech Center, which contains 9.4 million square feet of office space.  Advenir at French Quarter is also within walking distance to the light rail and major transit corridors, including Interstate 25 and 225.  Community amenities include an outdoor pool, sports field, tennis courts, playground, bark park, fitness center and espresso café.

The HFF team representing the borrower included senior managing director Eric Tupler and managing director Josh Simon.

CHARLOTTE, NC – November 5, 2018 – HFF announces the sale and financing of Southpoint Glen, a 346-unit, suburban, garden-style apartment community in Durham, North Carolina. 

The HFF team marketed the property on behalf of the seller, TH Real Estate, an affiliate of Nuveen (the investment manager of TIAA).  StoneBridge Investments purchased the property free and clear of existing financing.  Additionally, HFF’s debt placement team worked on the new owner’s behalf to secure a seven-year, fixed-rate loan through Freddie Mac’s CME Program.  The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.

Southpoint Glen is located at 5800 Tattersall Drive in a high-growth zip code accessible to employers within Research Triangle Park as well as lifestyle amenities, including 1.3 million square feet of retail at The Streets at Southpoint Mall, more than 20 miles of greenway at the American Tobacco Trail and downtown Durham’s urban center.  The property consists of a mix of one-, two- and three-bedroom layouts averaging 885 square feet with upgrades such as new cabinetry, granite-like countertops, stainless steel appliances and new lighting/hardware.  Community amenities include a swimming pool, grill and picnic area, fire pit, outdoor kitchen, sand volleyball court, 24-hour fitness center, clubhouse, business center, dog park and children’s playground.

The HFF investment advisory team representing TH Real Estate included managing directors Justin Good and Jeff Glenn, senior director Allan Lynch and director Caylor Mark.

HFF’s debt placement team representing StoneBridge consisted of managing director Elliott Throne and senior director Roger Edwards.

MIAMI, FL – November 1, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale and financing of a three-property apartment portfolio totaling 1,048 units in the high-growth submarkets of Broward and Pinellas Counties in Florida.

The HFF team marketed the offering on behalf of the seller, and procured the buyer, a joint venture between KKR, a leading global investment firm, and Carroll Organization.  Additionally, HFF’s debt placement team worked on the new owner’s behalf to secure three separate Freddie Mac-funded acquisition loans.  The Hamptons, which was funded by Freddie Mac’s CME Program, is a 688-unit property located at 1400 Avon Lane in North Lauderdale.  Vinings at Hampton Village, which is a 168-unit property located at 1200 Hampton Boulevard in North Lauderdale, and Sugar Mill Creek, a 212-unit community located at 8500 Belcher Road North in Pinellas Park, were funded by Freddie Mac’s Green Up Program.  The securitized loans will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional and Green Advantage Loans.  All three of the garden-style properties offer accessibility to neighboring employment centers, world-class retail and desirable recreational activities via nearby expressways.

The HFF investment advisory team representing the seller included senior managing director Roberto Casas, senior director Maurice Habif, managing director Jaret Turkell, senior managing director Matt Mitchell and director Zach Nolan.

HFF’s debt placement team representing the new owner consisted of managing director Elliott Throne, senior managing director Ed Coco and associate Ware Shipman.

DENVER, CO – October 8, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces $50 million in financing for 210 St Paul, the first phase of The St Paul Collection (www.stpaulcollection.com), an iconic mid-rise, mixed-use residential and retail property in Denver’s Cherry Creek North neighborhood.

The HFF team worked on behalf of BMC Investments to secure the 11-year, non-recourse, full-term, interest-only fixed-rate loan through Freddie Mac’s Lease-Up Loan Program.  The loan will replace existing construction financing and will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.

The St Paul Collection is a two-phase development located at the intersection of St Paul Street and 2nd Avenue amid more than 2.5 million square feet of retail within walking distance to the property.  The property’s central location also gives nearby access to major employers in Cherry Creek and Denver’s CBD.  Completed in June, 210 St. Paul comprises 81 luxury residences in a mix of one-, two- and three-bedroom floorplans as well as penthouses ranging in size from 770 to 2,800 square feet.  The property also includes 11,000 square feet of retail leased to CB2, Crate & Barrel’s fresh approach to furnishings & décor.  The second phase, which is not part of this financing, will add an additional 84 residential units and 44,000 square feet of retail space.

Designed by 4240 Architecture, St Paul Collection incorporates luxury condo-quality finishes and modern, open layouts featuring oversized living spaces, gourmet kitchens with Bosch and Thermador appliances, full bathroom suites with heated floors, built-in closet systems, in-home automation, custom hardwood flooring, 10-foot ceilings and private balconies with city and mountain views.  Community amenities include landscaped outdoor spaces and entertaining decks with gas grills; a sun terrace with panoramic views; resort-style health and wellness facility; heated pool and hot tub with private cabanas and fireplaces; resident lounge with outdoor terrace; curated private art collection; grand lobby and porte-cochere; pet grooming facility; and 24-hour on-demand concierge services.

The HFF debt placement team representing the borrower consisted of director Brock Yaffe.

“Working with the HFF team in concert with Freddie Mac is a pleasure.” said Max Bresner, BMC’s Chief Operating Officer.  “HFF executed at a high level and procured very attractive long-term financing for this asset.  Located in the heart of Cherry Creek, Denver’s most premiere submarket, we believe this asset enriches the neighborhood and sets a new standard in rental luxury living.”

WASHINGTON, D.C. – October 1, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces $30.128 million in acquisition financing for Greens at Hilton Run, a 328-unit, garden-style apartment community in Lexington Park, Maryland.

The HFF team worked on behalf of the borrower, Charger Ventures LLC, to secure the 10-year, fixed-rate loan through Freddie Mac’s CME Program.  The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.

Originally completed in 1988 and 1992, Greens at Hilton Run comprises one-, two- and three-bedroom units averaging 927 square feet each.  The community is located at 46860 Hilton Drive in St. Mary’s County near the Chesapeake Bay waterfront and the mouth of the Patuxent River.  Charger Ventures plans to continue the previous owner’s interior unit renovation program as well as upgrades to the clubhouse and amenities.

The HFF debt placement team representing the borrower included Jamie Leachman and Nicole Brickhouse.

 

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