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.”

SAN DIEGO, CA – November 8, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces $14.5 million in financing for Luna Sol Apartments, a 52-unit, podium-style apartment community in Kirkland, Washington.

Working exclusively on behalf of the borrower, Magma Equities, the HFF team placed the floating-rate, condo-conversion loan with a specialty finance company.  Loan proceeds will be used to acquire, renovate and upgrade the property with the intent to sell individual units beginning in 2019.

Luna Sol Apartments (Luna Sol) is located just west of Interstate 405 at 11415 Slater Avenue NE in the Eastside neighborhood of Kirkland.  The property was originally constructed as a condominium development with residential units sitting atop separately owned ground-floor office units.  Completed in 2010, Luna Sol features large, open one- and two-bedroom floor plans averaging 843 square feet, five of which are permanently designated as affordable housing units.  Interior finishes include stainless steel appliances, glass top stoves, full-sized washers and dryers, walk-in closets, floor-to-ceiling windows and vinyl wood plank flooring.  Community amenities include a fitness center, secured lobby, underground parking and courtyard with grills and outdoor seating.  The property was 98 percent occupied at closing.

The HFF debt placement team representing the borrower included senior director Zack Holderman and analyst Daniel Pinkus along with local market assistance from director Zack Goodwin of HFF’s Seattle office.

“Luna Sol is an excellent example of how a creative sponsor combined with strong market fundamentals can support a strategic business plan like the conversion and sale of individual condo units in Greater Seattle,” Holderman said.

 

FLORHAM PARK, NJ – November 7, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $43 million sale of The Fairview, a 12-story, Class A apartment property in Fairview, Bergen County, New Jersey.

The HFF team marketed the property exclusively on behalf of seller, Roizman Development Inc.  J.P. Management purchased the property free and clear of existing debt.

The Fairview is located at 371 Bergen Boulevard within the prestigious Bergen County Hudson Waterfront submarket, which provides commuters accessibility into Manhattan via a variety of transportation options.  The property consists of a diverse mix of 146 market-rate one-, two- and three-bedroom units averaging 991 square feet.  After a full renovation and repositioning in 2017, residences are equipped with in-unit washers and dryers, stainless steel appliances, quartzite countertops, hardwood flooring and balconies in select units.  The property also offers a swimming pool, fitness center, covered parking, controlled access and views of the New York City skyline. 

The HFF investment advisory team representing the seller included Jose Cruz, Stephen Simonelli, Kevin O’Hearn, Michael Oliver, Jordan Avanzato and Ryan Robertson.

“The property’s location in the heart of Fairview in Bergen County helped to drive investor interest while the recent renovation and upside in rents pushed pricing,” Cruz stated.

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.

CHARLOTTE, NC – November 5, 2018 – HFF announces the $73.92 million sale of and acquisition financing for Weston Corners, a newly built, 308-unit, mid-rise multi-housing community in Cary, North Carolina.

The HFF team marketed the property on behalf of the seller, Woodfield Development, and procured the buyer, Lantower Residential.  Additionally, HFF’s debt placement team worked exclusively on the new owner’s behalf to arrange an acquisition loan through New York Life Real Estate Investors.

Completed this year, Weston Corners features a mix of studio, one-, two- and three-bedroom units with high-end amenities, including 10-foot ceilings, stainless steel appliances, quartz countertops, designer kitchen cabinetry and lighting, walk-in custom closets, full-sized washers and dryers, hardwood-style flooring and balconies.  Common area amenities include a pool with sundeck and outdoor kitchen, sky terrace, fitness center with yoga room, massage room, dog spa, clubroom with kitchen and game room, conference room and Wi-Fi lounge, outdoor courtyards and direct access to the Indian Creek Greenway and Trailhead.  Situated just south of Crabtree Lake at 6000 Elevate Circle, the property is central to Research Triangle Park, Raleigh-Durham International Airport, North Carolina State University via nearby Interstate 40 as well as downtown Raleigh, Durham and Chapel Hill.

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

HFF’s debt placement team representing Lantower Residential consisted of senior directors Jamie Leachman and Roger Edwards.

Page 1 of 14