CHICAGO, IL – October 11, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of and acquisition financing for Stone Crossing Apartments, a 258-unit apartment community in the Chicago suburb of Aurora, Illinois.

The HFF team marketed the property exclusively on behalf of the seller, a partnership between Graycliff Capital Partners, LLC, Buligo Capital Partners and The Ferndale Realty Group, and procured the buyer, Cunat Inc.  Additionally, HFF worked on behalf of the new owner to secure a three-year, floating-rate acquisition loan through Bridge Debt Strategies Fund Manager LLC, a subsidiary of Bridge Investment Group LLC, which currently manages over $12 billion of assets under management.

Stone Crossing Apartments is located at 1240 Nantucket Road approximately two miles south of Interstate 88 and three miles from downtown Aurora.  The property’s location offers accessibility to suburban Chicago’s major employment corridors, as well as leading regional healthcare providers and multiple retail and entertainment amenities.  Stone Crossing consists of three two-story townhome buildings comprising three-bedroom units averaging more than 1,200 square feet each and two three-story apartment buildings comprising a mix of one- and two-bedroom apartment units averaging more than 760 square feet.

Cunat Inc. acquired Stone Crossing as a value-add opportunity with plans to completely upgrade, renovate and re-brand the community under the new name, Arbor West.  Cunat Inc. will renovate unit interiors, demolish the current community buildings, and build a new leasing office, clubhouse and indoor pool.  The parking lot and landscaping will also be rehabbed, which will reposition the property into a new class of apartments in Aurora.  Home and property amenities currently include white kitchen cabinetry with brushed nickel hardware, tile backsplashes in the kitchen and an outdoor picnic area with grills.  The community was 97 percent occupied at closing.

The HFF investment advisory team representing the seller included senior director David Gaines and senior managing director Sean Fogarty.

HFF’s debt placement team representing the borrower included senior directors Trent Niederberger and Jason Bond.

WASHINGTON, D.C. – October 10, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $90 million sale of and acquisition financing for 672 Flats, a 173-unit, newly completed multi-housing community in the Ballston submarket of Arlington, Virginia.

The HFF team marketed the property exclusively on behalf of the seller, a joint venture between The Penrose Group and Clark Enterprises, Inc.  The Chevy Chase Land Company purchased the property free and clear of existing debt.  In addition, HFF’s debt placement team worked on behalf of the new owner to arrange a 12-year, fixed-rate acquisition loan through USAA Real Estate.

672 Flats is a six-story community located at the convergence of N. Glebe Road, Wilson Boulevard and Interstate 66 in the highly sought-after Rosslyn-Ballston Corridor.  Completed earlier this year, the property has earned a WalkScore® of 93 given its proximity to an array of university campuses, restaurants, shopping and entertainment venues, including Ballston Quarter, which will transform the neighborhood into an open-air town center.  In addition, 672 Flats is approximately three blocks from the Ballston Metro Station (Orange and Silver lines), which provides access into the Washington, D.C. CBD within five stops and Tysons Corner within three stops.

The LEED Silver, boutique community incorporates multiple green building elements blended with high-end, modern finishes.  Units, which range from studio to two-bedroom loft- and flat-style floor plans, feature open layouts with stainless steel appliances and wall-mounted hoods, custom cabinetry, custom pantries with built-in microwaves, fixed and movable kitchen islands, expansive windows, hardwood-style flooring and full-sized washers and dryers.  Community amenities include elegantly designed common areas, including a resident lounge with bar; game room with billiards, poker table, shuffle board, air hockey and gaming center; fitness room with cardio, free weights and boxing/kickboxing area; cyber lounge/mail room with computer stations and coffee service; bike storage; and controlled-access garage parking.

The HFF investment advisory team representing the seller included Walter Coker and Brian Crivella.

HFF’s debt placement team representing the new owner included Jamie Leachman, Chris Hew and Nicole Brickhouse.

“This transaction represents another example of the strength of the pre-sale market, not only for buyers, but also for the debt markets willing to purchase and lend on top-quality assets in core locations,” Coker said.

WASHINGTON, D.C. – October 9, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $83 million sale of Alexan Concorde, a 310-unit, Class A luxury apartment community in Linthicum Heights, Maryland.

The HFF team marketed the property exclusively on behalf of the seller, a joint venture between Trammell Crow Residential and an affiliate of Western & Southern Financial Group, represented by its subsidiary Eagle Realty Group.  The buyer, procured by the HFF team, was AvalonBay Communities, Inc.

Alexan Concorde is located at 811 Concorde Circle less than a mile from the Baltimore-Washington Parkway (Highway 295) and adjacent to Baltimore-Washington International (BWI) Airport.  Though the property is situated on 11.4 acres in a quiet wooded neighborhood setting, the property is still highly accessible to more than 36.5 million square feet of office space within 10 minutes and a short commute from other major employment drivers in Baltimore, Fort Meade and Washington, D.C.  Completed in 2016, the Alexan Concorde’s five elevator-serviced buildings house a mix of studio, one-, two- and three-bedroom units averaging 973 square feet with features, including stainless steel appliances, granite countertops, chef islands, hardwood-style flooring, designer lighting packages, keyless entry and walk-in closets.  Community amenities include a resort-style pool with fire pit and grilling stations; clubhouse with shuffleboard, billiards, outdoor ping pong and multiple high definition TVs; community kitchen and workspace; oversized fitness area with cross fit gym and adjoining children’s mini-club; and dog run.

The HFF investment advisory team representing the seller included Walter Coker and Brian Crivella.

“The sale of Alexan Concorde represents a prime example of the renewed interest by institutional REITs in high-quality suburban assets,” Crivella commented.

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.”

CHICAGO, IL – October 3, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and arranged acquisition financing for River’s Cove Apartments, a 112-unit multi-housing community in the Milwaukee suburb of Germantown, Wisconsin.

The HFF team marketed the property exclusively on behalf of the seller, Mandel Group, Inc., and procured the buyer, Weidner Apartment Homes.  Additionally, HFF worked on behalf of the new owner to secure a 12-year, fixed-rate, Fannie Mae acquisition loan through M&T Realty Capital Corporation.

River’s Cove is nestled between Hupt Strausse Park and Blackstone Country Club at W172 N11392 Division Road in Germantown.  The nearly 11-acre property overlooks the Menomonee River and is approximately 20 miles northwest of the Milwaukee CBD.  In addition, River’s Cove is accessible to major employers at Germantown Industrial Park, one of the largest industrial parks in Wisconsin, as well as two Fortune 500 Companies, the 350-acre Germantown Business Park and several top healthcare providers.  Homes average 1,062 square feet and include washers and dryers, fireplaces, and balconies or patios.  Community amenities include a picnic area and pond, garage parking, golf course and waterfront views, and quick access to nearby walking/biking trails.  The property provides additional upside to the buyer through the completion of an interior renovation program and was 98 percent occupied at closing.

The HFF investment advisory team representing the seller included senior directors Wick Kirby and Kevin Girard, managing directors Sean Fogarty and Marty O’Connell, senior managing director Jaime Fink and executive managing director Matthew Lawton.

HFF’s debt placement team representing the new owner included senior managing director Tom Wilson and senior director Jason Bond.

PHILADELPHIA, PA – October 2, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $42.5 million sale of Stone Rise, a 216-unit, Class A multi-housing community in the Philadelphia suburb of Glenmoore, Pennsylvania.

The HFF team marketed the asset on behalf of the seller, an indirect wholly owned subsidiary of Preferred Apartment Communities, Inc. (NYSE: APTS).  FPA Multifamily, LLC purchased the offering free and clear of existing financing.

Stone Rise is located 900 Selwyn Place in affluent Chester County.  Constructed in 2008, the eight-building property is set on 21 low-density acres near luxury retail, award-winning restaurants, sought-after schools and several heavily traveled thoroughfares, including the Pennsylvania Turnpike, Route 202, Route 30 and Route 422.  The unit mix comprises a diverse blend of one- and two-bedroom apartment homes with open floor plans averaging 1,078 square feet.  All units have breakfast bars, garden tubs, nine-foot ceilings, washers and dryers, and private patios or balconies.  Community amenities include a resort-style pool, 24-hour fitness center, large dog park and business center.

The HFF team representing the seller included senior managing directors Mark Thomson and Ed Coco, senior director Carl Fiebig and director Fran Coyne.