HOUSTON, TX – September 4, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces acquisition financing for Ascension on the Bayou, a newly built, 280-unit, Class A multi-housing community in Houston, Texas.

The HFF team worked on behalf of the borrower, Tarantino Properties, to secure a 10-year acquisition loan with a fixed interest rate of 4.43 percent with six years of interest-only payments.

Ascension on the Bayou was completed in 2017 and is situated along Buffalo Bayou at 150 W. Sam Houston Parkway at the convergence of Houston’s Energy Corridor, Westchase and Memorial City neighborhoods.  The LEED Silver, mid-rise podium-style property offers immediate access to Terry Hershey Park and multiple employment, retail, dining and entertainment amenities.  Ascension on the Bayou features a variety of one- and two-bedroom floor plans, some of which also include a study, and high-end finishes, island kitchens with breakfast bars, full-size washers and dryers, recessed lighting, walk-in closets, and patios or balconies providing unobstructed views of the woods along the bayou.  Community amenities include an infinity-edge pool, grilling area, fire pit, covered fitness plaza with ping pong tables, indoor fitness center, entertainment lounge, business center and pet park.

HFF’s debt placement team representing the borrower included managing director Cortney Cole and analyst Sterling Curry.

WASHINGTON, D.C. – August 28, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces joint venture equity and debt financing totaling $26.031 million for the acquisition of Falling Creek Apartments, a 348-unit apartment community in the North Chesterfield submarket of Richmond, Virginia.

The HFF team worked on behalf of Brick Lane to arrange $6.696 million in joint venture equity through National Property REIT Corporation (NPRC). This transaction represents the first partnership between Brick lane and NPRC.  In addition, the HFF team worked on behalf of the new partnership to secure a $19.335 million, 12-year, fixed-rate loan through Freddie Mac’s CME Program, which funded the remainder of the acquisition costs.  The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.

Falling Creek Apartments is located at 2530 Marina Drive just off Route 301 in North Chesterfield, which positions the community within minutes of Interstates 95 and 295 and Highway 288.  The property is situated within the Chesterfield County school district and is less than 10 miles south of downtown Richmond.  Falling Creek Apartments consists of 31 two-story buildings encompassing a mix of studio, one- and two-bedroom townhome and flat-style units.

The HFF debt and equity placement team representing the borrower consisted of Jamie Leachman.

“Falling Creek aligns with the core strategy of both Brick Lane and NPRC, both of which seek well-located properties that can benefit from institutional ownership and operations,” Leachman said.  “It was a privilege to bring together both groups and assist in their continued success.”

CHICAGO, IL – August 28, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces joint venture equity financing for the development of Logan’s Crossing, a 220-unit, luxury mid-rise apartment building in Chicago’s Logan Square neighborhood.

The HFF team arranged the joint venture equity partnership between the developer, Fifield Companies, and an institutional investor.  The land seller, Terraco Real Estate, remains in the deal as a co-developer.

Logan’s Crossing is being developed on the site of the former Megamall at the southwest corner of North Milwaukee and North Sacramento Avenues.  Due for completion in the fourth quarter of 2019, the property will total five and six stories of combined residential and retail space.  The residential component will be situated above approximately 62,000 square feet of retail space anchored by a Neighborhood Target store.  Residential units will average 770 square feet and will feature luxury finishes, including granite countertops, stainless steel appliances, plank flooring and high-end bathrooms.  Community amenities will include an outdoor sundeck with soaking pool and grilling areas, indoor resident lounge with large screen TV, party room with demonstration kitchen, fitness center and business center with conference room.

The HFF equity placement team representing Fifield Companies included managing director Danny Kaufman and analyst Mary Dooley.

CHICAGO, IL – August 27, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of The Lex, a 332-unit, high-rise apartment property in Chicago’s South Loop.

The HFF team represented the seller, Crescent Heights, in the sale of the property to the buyer, FPA Multifamily, LLC.  The property was purchased free and clear of existing financing.

The Lex is located in the heart of the McCormick Square entertainment district at 2138 S. Indiana Avenue.  The property is a 15-minute walk to the lakefront and directly adjacent to the recently constructed Wintrust Arena and Marriott Marquis Hotel.  Completed in 2009, The Lex consists of one 35-story tower and one seven-story tower comprising a variety of one-, two- and three-bedroom units averaging more than 900 square feet each.  Units feature luxury finishes such as granite countertops, contemporary wood cabinetry, Centiva contour plank flooring, high-end appliances, marble vanities, floor-to-ceiling windows and private balconies with panoramic views of the city.  Community amenities include a sixth-floor rooftop terrace with a swimming pool, hot tub, outdoor grilling and poolside lounge seating; 24-hour fitness center; billiards and resident lounge; business center; dog run; and a resident-only secured parking garage.  The Lex also features more than 17,000 square feet of ground-floor retail and dining space.

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

DALLAS, TX – August 23, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces construction financing for the development of Solera at Cherry Creek, a Class A seniors housing development in the Cherry Creek neighborhood of Denver, Colorado.

The HFF team worked on behalf of the developer, a joint venture between affiliates of Banner Senior, LLC, Solera Senior Living and Wheelock Street Capital, to arrange the non-recourse construction loan through a national bank.

Solera at Cherry Creek will comprise 64 assisted living apartments and 32 memory care units within a three-story building totaling approximately 55,000 rentable square feet.  The community will feature contemporary design, local influences and best-in-class amenities such as outdoor walking paths, a fitness studio and relaxation room, on-site rehabilitation center, gourmet restaurant with mountain views and an exhibition kitchen, piano bar and lounge, outdoor terrace with a glass firepit, beauty salon and spa, multi-functional spaces designed to maximize engagement as well as innovative programs and technologies.  Due for completion in 2019, the property is designed by Rosemann & Associates, a firm experienced with well thought-out and innovative senior living communities.  Solera at Cherry Creek is being constructed on a three-acre site at 2453 S. Wabash Street in the heart of Cherry Creek, which is one of Denver’s most affluent neighborhoods and home to multiple parks, dining, retail and entertainment options, including Cherry Creek North, Cherry Creek Shopping Center and the Cherry Creek Arts District.

The HFF team representing the borrower included senior director David Fasano and directors Sarah Anderson and Brock Yaffe.

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.”