WASHINGTON, D.C. – May 7, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has secured joint venture equity and construction financing totaling $191.8 million for the development of Phase I of Bryant Street, a mixed-use, transit-oriented development in northeast Washington, D.C.

HFF worked on behalf of the developer, MRP Realty, to arrange a $59.8 million joint venture equity partnership with FRP Development Corp.  Working on behalf of the new partners, HFF also secured $132 million in construction financing through a national bank.

Bryant Street is being developed near the intersection of Rhode Island Avenue and Fourth Street adjacent to the Rhode Island Metro Station (Red Line) and the Metropolitan Branch Trail, a multiuse pedestrian/cycling path that is used by more than 1,200 commuting cyclists daily.  The project is situated within the high-barrier-to-entry neighborhood of Edgewood between the established and rapidly growing neighborhoods of Eckington and Brookland.  In addition to the neighborhood restaurants, breweries and other local nightlife, Bryant Street is easily accessible to Ivy City, Union Market, a newly opened Trader Joe’s and hotspots such Red Hen and Big Bear Café.  Phase I of the development will feature three mid-rise buildings comprising 487 multi-housing units, a nine-screen Alamo Drafthouse Cinema and an additional 38,482 square feet of ground-floor retail.  At full build out, the 13-acre, LEED-certified project will feature 1,500 residential units, 250,000 square feet of retail, 1.5 acres of green space and up to 2,000 below-grade parking spaces for residents and visitors.  Construction commenced in February and Phase I is due for completion in spring 2021.

The HFF debt and equity placement team was led by Stephen Conley, Walter Coker, Brian Crivella, John Owendoff, Daniel McIntyre and Cary Abod.

“Edgewood and the surrounding communities near Bryant Street have a rich history and we hope we can build on the great offerings that already exist,” MRP Principal John Begert said.  “We are very excited to have the financing in place to bring this multi-modal neighborhood to life.”

WASHINGTON, D.C. – May 6, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the sale of Hanover Shady Grove, a 366-unit, transit-oriented, mid-rise apartment community in Rockville, Maryland.

HFF marketed the property exclusively on behalf of the seller, Hanover Company and Berkshire Residential Investments, and procured the buyer, Equity Residential.

Hanover Shady Grove is located at 9305 Corporate Boulevard within the I-270 Bio Corridor, one of the country’s most prominent hubs for medical research, testing and development.  Adjacent to Interstate 270 and within a mile of Interstate 370/Maryland Route 200, the community provides connectivity to downtown Rockville, Bethesda and Washington, D.C. to the south and Gaithersburg and Germantown to the north.  Additionally, Hanover Shady Grove offers access to the Washington, D.C. Metro’s Red Line via the nearby Shady Grove Metro Station to the east and to commuter rail service via the nearby MARC Brunswick Line to the southeast.

Completed in 2016, the five-story property consists of a mix of studio through three-bedroom units averaging 970 square feet.  Units feature gourmet kitchens equipped with stainless steel appliances, granite countertops and stone backsplashes as well as wood flooring, spa-like baths, high ceilings and in-unit washers and dryers.  Community amenities include a resort-style pool, outdoor dining/grilling areas, 24-hour Technogym fitness club, private media room, executive conference and dining room, catering kitchen, on-property Civic Green Park, designated walking paths and a controlled-access parking garage.  The property was 95 percent occupied at closing.

The HFF investment advisory team was led by Walter Coker and Brian Crivella along with Stephen Conley, a licensed Maryland real estate broker.

DALLAS, TX – April 30, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has secured financing for an eight-property, 565-unit seniors housing portfolio located in New England.

HFF worked on behalf of the borrower, Northbridge Strategic Senior Housing Fund II, L.P., to originate the mortgage loans to be sold to Freddie Mac.  HFF, a Freddie Mac Optigo℠ lender for Seniors Housing Loans, will service the loans.

The properties in the portfolio are Avita of Brunswick in Brunswick, Maine; Avita of Stroudwater in Westbrook, Maine; Avita of Wells in Wells, Maine; Carriage House at Lee’s Farm in Wayland, Massachusetts; Laurelwood at the Pinehills in Plymouth, Massachusetts; Ledgewood Bay at Milford in Milford, New Hampshire; Stroudwater Lodge in Westbrook, Maine; and Sunnybrook in Brunswick, Maine.  The properties have an average completion date of 2014 and comprise a mixture of 49 independent living, 256 assisted living and 260 memory care units that were nearly 90 percent occupied at closing.

SAN DIEGO, CA – April 25, 2019 – HFF announces it has arranged $145 million in construction financing on behalf of Sunroad Enterprises for the development of Centrum Apartments Phase 6, a 442-unit, Class A apartment project in San Diego, California.

HFF worked on behalf of Sunroad Enterprises to arrange the floating-rate construction loan through PCCP, LLC.

Centrum Apartments Phase 6 will be the final phase of the 232-acre Centrum Master Plan that encompasses some of San Diego’s newest development and numerous employers.  Due for completion in late 2020, the five-story, Type 3A residential building will be situated over a three-story, Type 1A parking structure with one subterranean level.  The property is situated on 4.5 acres directly west of Phase 5 at the corner of Kearny Villa Road and Lightwave Avenue in the Kearny Mesa submarket.  Planned amenities include a pool and spa area, sky deck with grilling and lounge space, fitness center, club room with indoor/outdoor billiards tables and bar, wine room, business center with conference space and pet grooming center.  Units will range from studio through three-bedroom layouts averaging 895 square feet.

The HFF debt placement team representing Sunroad was led by senior managing directors Aldon Cole and Tim Wright and associate Bharat Madan.

“This sixth and final phase within the Centrum master plan will complete the transformation of this project that has been in the works for nearly 20 years,” Cole said.  “The Centrum residential market is one of the most highly amenitized in the country.  The area’s short commutes to surrounding employment centers and proximity to retail only serves to enrich residents’ quality of life even further.”

SAN DIEGO, CA – April 24, 2019 – HFF announces the $2.875 million sale of 4183 Alabama Apartments, a nine-unit, garden-style apartment property in San Diego, California.

The HFF team represented the buyer, a private investor who purchased the asset as part of a 1031 exchange. The investor’s legal representation was provided by the law offices of J. Geoffrey Barry, Esq.

4183 Alabama Apartments is located in the North Park submarket proximate to some of San Diego’s best restaurant, nightlife and retail amenities as well as recreational amenities at Balboa Park.  The property also offers residents convenient access to major area thoroughfares, including CA-163 and Interstates 8 and 805.  Originally built in 1975, the property totals 6,000 rentable square feet and was 100 percent occupied at closing.

The HFF investment advisory team representing the buyer was led by senior director Hunter Combs.

DALLAS, TX – April 24, 2019 – HFF announces it has closed the sale of Villas of Josey Ranch, a 198-unit apartment community in the Dallas-Fort Worth submarket of Carrollton, Texas.

HFF marketed the property exclusively on behalf of the seller, a partnership between Harbert Management Corporation and Balfour Beatty Communities, and procured the buyer, Domain Communities.

Villas of Josey Ranch is situated on 12.37 acres at 2050 Keller Springs Road adjacent to Jimmy Porter Park.  In addition, the community is proximate to numerous retail and entertainment options and notable economic drivers, including the Platinum Corridor, Telecom Corridor®, Legacy Business Park and CityLine.  The property’s 19 two-story buildings comprise a mix of one- and two-bedroom units averaging 849 square feet, which are 96.5 percent occupied.  Community amenities include resort-style swimming pools, outdoor picnic area with grilling stations, outdoor kitchen, 24-hour fitness center business center, direct access garages and covered parking.

The HFF investment advisory team representing the seller included senior managing directors Bill Miller and Roberto Casas, managing director Rob Key and senior director Greg Toro.