FLORHAM PARK, NJ – January 14, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces $70 million in financing for Steel Works, a recently completed, 286-unit apartment community in Harrison, New Jersey.

The HFF team worked exclusively on behalf of the borrower, a joint venture between Advance Realty and DeBartolo Development, to secure the 10-year, fixed-rate loan with an institutional lender.  Loan proceeds were used to retire existing construction financing.

Steel Works is located at 1200 Frank E. Rodgers Boulevard South less than a quarter of a mile from the Harrison PATH Station, which provides commuters access to the World Trade Center in Lower Manhattan in approximately 20 minutes.  Completed in 2017, the five-story, 96.5-percent-occupied property consists of a mix of studio, one- and two-bedroom floor plans featuring stainless steel appliances, designer cabinetry, nine-foot ceilings, custom closets, in-unit washers and dryers, hardwired sound systems and private balconies.  Additionally, the community’s common area amenities include an outdoor swimming pool with sundeck, state-of-the-art fitness center with spin room, resident clubroom, dog park and electric car charging stations.

The HFF debt placement team representing the borrower consisted of senior managing directors Greg Nalbandian and Jim Cadranell.

“Steel Works represents the first Class A apartment project completed by the first class development team of Advance and DeBartolo within the Riverbend District, a 35-acre site that will ultimately deliver 3,000 luxury apartments and 100,000 square feet of retail,” Nalbandian said.  “There was significant interest to finance this project and we were successful in arranging a very aggressive fixed-rate loan with a heavy interest-only period for our client.”

DALLAS, TX – January 14, 2019 – Holliday Fenoglio Fowler, L.P. (“HFF”) announces the sale and financing of three Class A seniors housing properties totaling 253 units in suburban Seattle and Northern California.

The HFF team marketed the property exclusively on behalf of the seller, Áegis Living.  A joint venture of Blue Moon Capital Partners and Áegis Living affiliates purchased the properties free and clear of existing financing.  Additionally, HFF’s debt placement team worked on behalf of the new owner to secure fixed-rate agency financing to fund the acquisition.

The portfolio offers a blend of assisted living and memory care units within properties that feature best-in-class finishes and have a combined average occupancy of nearly 95 percent.  The two Seattle-area properties in the portfolio are Áegis of Bellevue at 148 102nd Avenue SE in Bellevue, which consists of 68 assisted living and 18 memory care units, and Áegis Lodge of Kirkland at 12629 116th Avenue NE in Kirkland, which consists of 70 assisted living and 17 memory care units.  The Northern California property, Áegis of Aptos, is located at 125 Heather Terrace in Aptos, which is an oceanside community approximately eight miles east of Santa Cruz and less than 40 miles south San Jose.

The HFF investment advisory team representing the seller included senior director David Fasano, senior managing directors Ryan Maconachy and Chad Lavender and senior director Ross Sanders along with managing director Mark Wintner and director Christopher Ross.

HFF’s debt placement team representing the borrower was led by director Sarah Anderson.

CHARLOTTE, NC – January 11, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces $20.23 million in acquisition financing for The Linden, a newly developed, 162-unit, mixed-use apartment property with approximately 6,000 square feet of ground floor retail in Davidson, North Carolina.

The HFF team worked exclusively on behalf of Raleigh, North Carolina-based Blue Heron Asset Management, LLC to secure the Fannie Mae loan through M&T Realty Capital Corporation.

The Linden is ideally positioned in the highly desirable and supply-constrained Charlotte suburb of Davidson, which provides nearby access to Lake Norman and walkability to the shops and amenities of Downtown Davidson as well as Davidson College.  Additionally, the property is surrounded by several major economic drivers, including MSC Industrial Supply Company’s U.S. headquarters, Ingersoll Rand’s North American headquarters and Lowe’s global headquarters. Furthermore, the property will benefit from the soon-to-be-completed Interstate 77 infrastructure improvements, which will allow for direct access to all of Charlotte, including Uptown.  

Completed in 2016, The Linden consists of a mix of studio, one- and two-bedroom units along with more than 5,800 square feet of fully leased ground-floor retail.  Units feature open floor plans with modern finishes such as gourmet kitchens with granite countertops, European-style cabinetry, stainless steel appliances and wood-plank flooring.  Community amenities include a resort-style pool, grilling area, fire pit, state-of-the-art athletic club, clubroom, coffee bar, library, conference room and corporate suites. 

The HFF team representing the borrower consisted of senior director Roger Edwards. Loan origination by M&T Realty Capital Corporation was led by managing director Robert Ryan.

CHICAGO, IL – January 10, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Westmont Village Apartments, a 558-unit, garden-style apartment community in Westmont, Illinois.

The HFF team marketed the property on behalf of the seller, Long Wharf Capital LLC, and procured the buyer, a joint venture between a fund managed by DRA Advisors LLC and Marquette Companies.  HFF previously arranged financing for the property in 2016.

Westmont Village Apartments consists of 31 residential buildings comprising 558 units averaging 1,100 square feet each.  Situated on 29 acres at 6713 Lake Shore Drive, the community offers access to surrounding DuPage County cities and the Chicago metropolitan area via Interstate 355 to the west, Interstate 88 to the north, Interstate 294 to the east and Interstate 55 to the south.  The property offers a variety of one-, two- and three-bedroom floor plans with different levels of amenities.  Long Wharf recently completed unit renovations and constructed a new resident clubhouse with a fitness center and outdoor swimming pool, a dog park and picnic areas with grilling stations.

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

“We are pleased with the outcome of this well-located property, from the physical improvements to the simplification of the previously fractured ownership structure, all of which made the asset appealing to an institutional buyer like DRA Advisors,” said Steve Varney, a director at Long Wharf Capital.

CHICAGO, IL – January 8, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of The Commons at Town Center, a boutique luxury residential and retail property in the affluent North Shore community of Vernon Hills, Illinois.

The HFF team marketed the property on behalf of the seller, Inland Residential Properties Trust, Inc. (a member company of The Inland Real Estate Group of Companies, Inc.), and procured the buyer, FPA Multifamily, LLC.

The Commons at Town Center consists of 85 residential units averaging 1,240 square feet and more than 10,000 square feet of ground-floor retail space leased to Sam Martirano Salon & Spa, Hawthorn Dental Associates, Design Studio Jewelry, Eight Piece and Giuseppe’s Pizza.  Completed in 2010, the six-story property is located just northwest of Highway 45 and N. Milwaukee Avenue at 1255 Town Center, which positions it near 225,000 square feet of retail, award-winning schools and more than a dozen Fortune 500 employers.  In addition to the retail component, community amenities include a heated indoor parking garage, fully equipped fitness center, hospitality room and resident lounge.  The one- through three-bedroom, condo-quality units feature well-appointed kitchens inclusive of granite countertops, high-end cabinetry, stainless steel appliance and large peninsulas; full-size washers and dryers; large walk-in closets; and expansive balconies.  Both the residential and retail components are fully leased.

The HFF investment advisory team included senior director Wick Kirby, managing directors Sean Fogarty and Marty O’Connell and director Kevin Girard.

DALLAS, TX – January 8, 2019 - Holliday Fenoglio Fowler, L.P. (HFF) announces the sale and financing of a nine-property seniors housing portfolio totaling 1,558 units across the southeastern United States. 

The HFF team marketed the property on behalf of the seller, Dominion Partners, acting on behalf of its affiliated partner, Somerby Senior Living.  Bridge Investment Group purchased the offering free and clear of existing debt.  Additionally, the team worked on the new owner’s behalf to advise on acquisition financing.

The portfolio, which has an average weighted vintage of 2012, includes seven stabilized assets averaging 94.3 percent occupancy and two assets in the late stages of lease-up.  All of the communities are located in diversified, high-barrier-to-entry markets with a unit mix that includes 134 independent living villas, 771 independent living units, 393 assisted living units and 260 memory care units.

The HFF investment advisory team representing the seller included senior managing directors Ryan Maconachy and Chad Lavender.

HFF’s debt placement team representing the new owner included director Sarah Anderson.