BOSTON, MA – June 28, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has secured financing for CityView at Longwood, a 289-unit apartment high-rise in Boston’s Longwood Medical Area.

Working on behalf of the borrower, a joint venture between Jefferson Apartment Group and LaSalle Investment Management, HFF placed the floating-rate acquisition loan with a Brookfield-sponsored real estate debt fund and ING Capital LLC.

CityView at Longwood is located at 75 St. Alphonsus Street in the Longwood Medical Area, one of the premier medical clusters in the world with 15.5 million square feet of dedicated medical research and treatment facilities, including three teaching hospitals affiliated with Harvard Medical School.  With a Walk Score® of 93, the apartment community is just one block from the MBTA Green Line and within walking distance of the Orange Line providing direct access to downtown Boston.  Additionally, the Fenway neighborhood with an abundance of dining, entertainment and night life options is less than one mile from CityView at Longwood.  Originally built in the 1970’s, the 20-story tower offers studio, one-, two- and three-bedroom units that are currently 95% leased.  Property amenities include a pool, fitness center, resident lounge, laundry room and two-story parking deck with 185 spaces.  The borrower plans to implement a renovation program, substantially upgrading unit interiors, creating a new resident experience and significantly elevating the quality of resident amenities, and adding new amenities, which may include penthouse outdoor rooftop space.

The HFF debt placement team was led by senior managing directors Riaz Cassum and John Rose and senior director Jennifer Keller.

WASHINGTON, D.C. – June 26, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has arranged construction financing and joint venture equity totaling $65.44 million for the development of The Stella, a 282-unit, transit-oriented multi-housing community located within a designated opportunity zone in New Carrollton, Maryland.

HFF worked on behalf of the developer, Urban Atlantic, to secure a $46.56 million construction loan through TD Bank and $18.88 million in joint venture equity from Bridge Investment Group.

The Stella is located at 3950 Garden City Drive at the New Carrollton Metro Station, which is the terminus of the Orange and Purple lines.  Less than five miles outside of Washington, D.C., the opportunity zone project is the second phase of Urban Atlantic’s 34-acre, 2.3 million-square-foot New Carrollton Metro redevelopment and will serve as the first multi-housing asset within the master plan.  The Stella, which sits on a ground lease, will feature a podium-style design with 282 studio through three-bedroom floor plans totaling 218,692 rentable square feet along with 3,500 square feet of ground-floor retail.  Units will offer high-end amenities, including quartz countertops, stainless steel appliances, plank flooring, walk-in closets, nine-foot ceilings and in-unit washers and dryers.  Community amenities will include a swimming pool, common outdoor terraces, club room, game room, fitness center, co-working space, private entertaining room and terrace, coffee bar and dog wash station.  The project is due for completion in the fourth quarter of 2020.

The HFF debt and equity placement team representing the developer included Walter Coker, Brian Crivella, Jamie Leachman and Evan Parker.

“The Stella represents one of the marquee developments in the region,” Leachman said.  “The site is located within an opportunity zone and adjacent to the New Carrollton metro station.  These factors, coupled with the involvement of a premier developer like Urban Atlantic, drew a tremendous amount of interest from institutional groups looking to capitalize on the new tax laws.”

“We are proud to be a part of the Urban Atlantic's commitment to provide new high-end housing for Maryland's citizens,” said John Howell, vice president for TD Bank.  “This project will help address the critical need for transit-oriented housing in close proximity to Washington, D.C.  TD’s investment in making a positive impact is a part of what makes TD Bank different.” 

DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announces $22 million in financing for Coral Falls, a 190-unit, garden-style multi-housing community in Coral Springs, Florida.

The HFF team worked on behalf of CF Partners, Ltd. and Iron River Management, LLC to secure the seven-year, 4.47 percent, fixed-rate, interest-only 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.  Loan proceeds are being used to replace a floating-rate loan the HFF team arranged on the owner’s behalf in 2015.

Coral Falls is located at 2801 NW 91st Street in Coral Springs providing access to Boca Raton to the north and Fort Lauderdale and Miami to the south.  The 99-percent-leased asset has a mix of newly renovated one- and two-bedroom floor plans averaging 1,029 square feet each.  Community amenities include a swimming pool with sundeck, brand new fitness center, picnic areas, tennis court, playground and car wash station.

The HFF debt placement team representing the borrower included managing directors Josh Simon and Elliott Throne.

“Our goal with Coral Falls has always been to hold long-term, maintain our presence in the market, and maximize our cash flow,” said Jonathan Ringham, President of Southshire, the general partner of CF Partners Ltd., and owner of Iron River Management, LLC.  “The HFF team has always understood this and provided the necessary guidance to achieving our long-term goals.  The placement of this debt allows us to continue our history of success with this property.” 

WASHINGTON, D.C. – August 13, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $70.25 million sale of Spring Parc, a 399-unit apartment community in Silver Spring, Maryland.

The HFF team marketed the property on behalf of the seller, Ares Management, L.P., and procured the buyer, an affiliate of Bridge Investment Group LLC.

Spring Parc comprises 120 one-bedroom, 232 two-bedroom and 47 three-bedroom units along with institutional-quality amenities, including an expansive swimming pool with separate children’s wading pool, grilling area, two playgrounds, dog park with agility course and a fitness center.  Located at 17 Featherwood Court, the property is situated in Montgomery County near key employment centers in Silver Spring, Rockville and Washington, D.C. as well as major regional thoroughfares such as Interstates 95 and 495, the Intercounty Connector (ICC)/Maryland 200 and Route 29.  In addition to its centralized location, the property is also convenient to numerous nearby retail amenities and two forthcoming developments.

The HFF investment advisory team representing the seller included Walter Coker, Brian Crivella, Roland Merchant and Stephen Conley, a Maryland licensed real estate broker.

HOUSTON, TX – August 7, 2018 – HFF announces sale of and acquisition financing for Villas at Bunker Hill, a 398-unit, Class A, mid-rise apartment community in Houston, Texas.

The HFF team marketed the property exclusively on behalf of the seller, SouthStar Communities.  Hilltop Residential purchased the asset free and clear of existing debt.  In addition, HFF’s debt placement team worked on behalf of the new owner to secure a three-year, floating-rate acquisition loan through a national bank.

Villas at Bunker Hill is located just north of Interstate 10 at 9757 Pine Lake Drive in Houston’s Memorial City area.  The property is adjacent to a wide variety of retail amenities, including H-E-B, PetSmart, Sam Moon, Nordstrom Rack, Academy Sports + Outdoors, Best Buy, Lowe’s Home Improvement, Costco and several dining and lifestyle retailers.  In addition, Villas at Bunker Hill is less than two miles north of Memorial City Mall and Memorial Hermann Memorial City Medical Center.  The four-story, wrap-style property offers access to the five-level parking garage from each floor of the building and comprises one- and two-bedroom units averaging 963 square feet.  The property’s nearly 8,000 square feet of amenity space includes two outdoor swimming pools, grilling areas, a state-of-the-art fitness center, clubhouse, game room with billiards, business center with conference room and demonstration kitchen.

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

HFF’s debt placement team representing the buyer consisted of managing director Cortney Cole and analyst Jett Lucia.

PORTLAND, OR – August 7, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $66 million sale of and financing for Axcess 15, a 202-unit, transit-oriented apartment property in the Lloyd District of Portland, Oregon.

The HFF team represented the seller, Waterton, and procured the buyer, MG Properties Group.  Additionally, the HFF team worked on behalf of the new owner to secure a 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.

Located at 1500 NE 15th Avenue, Axcess 15 is within a short distance to several grocery stores and other retail and entertainment amenities, including Lloyd Center Mall, Moda Center and Oregon Convention Center.  The four- and five-story property features a mix of one- and two-bedroom units averaging 851 square feet as well as more than 18,000 square feet of 100-percent-leased ground-floor retail.  Community amenities include a 24-hour fitness center, business center, resident lounge, landscaped courtyards and controlled access parking.  Unit amenities include open layouts with breakfast bars, in-unit washers and dryers, and balconies or patios.

The HFF investment advisory team representing the seller included senior managing director Ira Virden and director Carrie Kahn.

HFF’s debt placement team representing the borrower consisted of senior managing director Charles Halladay and directors Scott Gilson and Rick Salinas.