BOSTON, MA – March 25, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the sale of 26 West Broadway, a boutique Class A multi-housing property in South Boston, Massachusetts.

HFF represented the seller, Cincotta Companies, and procured the buyer, in the transaction.

Designed by Boston-based Utile, Inc. and delivered to the market in 2016, 26 West Broadway offers luxury residences in a mix of one-, one-bedroom with office, two-bedroom and penthouse units.  High-end finishes include wide-plank hardwood flooring, white cabinetry with soft-close drawers, dimmable LED recessed lighting and gas ranges, among others.  Residents of 26 West Broadway have access to a heated sub-grade parking garage and a private roof deck lounge. Worden Hall, a popular tavern, is located on the ground floor of 26 West Broadway.  The property is located across the street from the MBTA’s Broadway Station offering subway access to downtown Boston and bus access to the South End and Back Bay.  Additionally, 26 West Broadway is within walking distance of numerous restaurants, coffee shops and retail offerings, including Whole Foods at the nearby Ink Block development.  This area of South Boston has witnessed a tremendous renaissance over the past 10 years and has transformed into a coveted area for residential and corporate users alike.  

The HFF investment advisory team representing the seller was led by director Adam Dunn and managing director Christopher Phaneuf.

“Continued positive market fundamentals in the South Boston multifamily submarket, combined with a strategic buyer, motivated the seller to capitalize on this opportunistic sale,” Dunn said.

DENVER, CO – March 21, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has arranged $75 million in financing for The Confluence, a 287-unit, luxury residential tower in downtown Denver, owned by a partnership between National Real Estate Advisors, LLC (National), acting on behalf of a client, and PMRG, which recently merged with Madison Marquette.

HFF worked on behalf of ownership to secure the 10-year, fixed-rate loan through a life company lender.  Loan proceeds are being used to retire existing construction debt.  HFF previously arranged the joint venture partnership between PMRG and National in 2013 at the start of the project’s development process and later procured construction financing for the partnership in 2015.

The Confluence is situated on 1.21 acres at the southwest corner of 15th Street and Little Raven Street in the Riverfront Park area of the Denver CDB.  The live-work-play property is walking distance to public transportation at Union Station as well as the city’s largest concentration of office space and numerous entertainment/lifestyle amenities.  Completed in 2017, the 34-story tower provides mountain and skyline views and includes approximately 8,029 square feet of ground-floor retail and three levels of underground parking.  Units feature a mix of spacious one-, two- and three-bedroom options averaging 1,052 square feet with high-end finishes, such as granite and marble countertops, soaking tubs, expansive floor-to-ceiling windows, hand-scraped hardwood floors, oversized walk-in closets, solar and blackout shades, and balconies and private terraces.  Common area amenities include a state-of-the-art fitness center, swimming pool, hot tub, cabanas with individual fire pits, two skyline lounges, professional chef’s kitchen and catering facility, dog grooming area, valet parking, 24-hour concierge service and direct access to Confluence Park.

The HFF team representing the borrower included managing directors Josh Simon and Rob Rizzi.

WASHINGTON, D.C. – March 21, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has arranged $29.1 million in preferred equity for the development of Faraday Park, a 407-unit multifamily community in Reston, Virginia.

HFF worked exclusively on behalf of the developer, Rooney Properties, to arrange preferred equity from Parse Capital.

Faraday Park will be prominently situated along the Dulles Toll Road at 1831 Michael Faraday Drive steps from the Wiehle-Reston East Metro Station.  Located in North Virginia’s largest office market, the property is surrounded by more than 31.2 million square feet of mainly technology and defense employers, including Boeing, Booz Allen Hamilton, CACI, General Dynamics, Bechtel, Northrop Grumman, Raytheon, SAIC, Lockheed Martin and the U.S. headquarters for Amazon Web Services.  Additionally, Faraday Park is one mile from the Whole Foods-anchored Plaza America, which features over 200,000 square feet of retail, and one and a half miles from Reston Town Center, which features over 425,000 square feet of retail.

The transit-oriented property’s construction will consist of two seven-story, podium-style residential buildings and two above-ground parking garages.  Floor plans will include a variety of studio through three-bedroom units averaging 842 square feet.  Faraday Park’s best-in-class amenity package will feature an expansive green area, rooftop swimming pool, state-of-the-art fitness center, gourmet kitchen and dining space, co-working space, dog park and a refrigerated package room.  Construction at the site, which is currently improved with an office building, is slated to begin immediately.

The HFF equity placement team was led by Walter Coker and Brian Crivella.

“This investment is an endorsement of the strength of the Reston market and demonstrates the ability of experienced developers like Rooney to obtain capital for best-in-class projects,” Crivella said.

SAN DIEGO, CA – March 11, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the $92.5 million sale of Fifty Twenty-Five, a 260-unit/942-bed, Class A luxury student housing community serving San Diego State University.

HFF marketed the asset exclusively on behalf of FPA Multifamily, LLC, and procured the buyer, Denver-based Cardinal Group Investments, LLC.

Completed in 2010, Fifty Twenty-Five is a LEED Gold-certified property offering a mix of studio, two- and four-bedroom floor plans averaging 951 square feet with amenities, including flat-screen televisions, high-speed internet, modern furnishings, full-size washers and dryers, walk-in closets and fully-equipped kitchens.  The community also features a resort-style swimming pool, 24-hour fitness center, study rooms, 24-hour computer center, coffee bar, tanning bed, shuttle service and 598-space parking garage.  The property is situated less than one mile from campus at 5025 Collwood Boulevard.

The HFF team included senior managing director Sean Deasy, senior director Hunter Combs and director Scott Clifton.

“The institutional quality of this asset coupled with strong market fundamentals and exceptional enrollment growth at SDSU led to robust activity on Fifty Twenty-Five,” Combs said.  “SDSU currently receives more than 98,000 undergraduate and graduate applications per year and represents the third largest university in California, which creates a sustained demand for housing of this caliber.  The property’s amenity package is student-tailored and will continue to command top-tier rents in the marketplace.”

NEWPORT BEACH, CA – February 28, 2019 – HFF announces it has secured $22.5 million in financing for the William Penn Apartments, a 189-unit, mid-rise apartment building in Los Angeles, California.

HFF worked exclusively on behalf of the borrower, Massie Capital Management, LLC, to place the five-year, floating-rate loan with a debt fund.  Loan proceeds were used to return equity to investors and provide future funding to renovate units.

Originally constructed in 1928, the William Penn Apartments is located at 2208 W. 8th Street, one block south of MacArthur Park in Los Angeles’ Koreatown neighborhood.  The property consists of newly remodeled studio floor plans within a seven-story, historic building that offers immediate access to downtown.  On-site amenities include a newly renovated courtyard with fountain, fire pits and lounge seating; a 24-hour fitness center; resident storage; bike racks; and courtesy patrol service.  The property was 94 percent occupied at closing and is currently undergoing unit renovations.

“Massie Capital focuses on identifying mispriced assets and delivering affordable, well-designed space to its tenants,” said Brian Massie, principal of Massie Capital Management.  “The William Penn’s pioneering submarket and business plan required a unique lending partner.  HFF was able to clear the market quickly and bring a closely held relationship with a lender who understood our vision for the property and provided local, accessible asset management for draw requests.”

The HFF debt placement team representing the borrower was led by director John Marshall and analyst Devon Dykstra.

“Every year market participants note that the bridge loan market is more competitive than ever and 2019 is no different,” Marshall said.  “HFF advised our client to select a lender who could provide certainty of execution and the best terms available in the market.”

HOUSTON, TX – February 27, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has secured acquisition financing for Smart Living at Stuebner Airline, a 112-unit apartment community in North Houston.

HFF worked on behalf of the borrower, TriArc Properties, to secure a five-year, floating-rate acquisition loan with three years of interest-only payments.  Rhonda J. Sands, Senior Vice President/Commercial Real Estate of Veritex Community Bank, facilitated the loan.  HFF previously assisted TriArc in September of last year with its acquisition of 4 eighty West Parker immediately south of Smart Living at Stuebner Airline.

Smart Living at Stuebner Airline is situated along Stuebner Airline Road immediately southwest of the intersection of the North Freeway (Interstate 45) and W. Little York Road, which provides nearby access to Loop 610 and Interstate 10 as well as the Houston CBD.  The 4.35-acre property was completed in 2015 and totals 81,502 rentable square feet.  Units include a mix of one-bedroom/one-bath and two-bedroom/two-bath floor plans featuring contemporary cabinetry, faux wood flooring, energy efficient windows, walk-in closets, and in-unit washers and dryers.  Common area amenities include two outdoor seating and barbecue areas as well as an open central courtyard.

“We have been operating in this submarket for the past two years with great success, which is why we decided to expand our presence here with the acquisition of this property,” said Joseph Bramante, CEO of TriArc Properties.  “It’s rare to have the opportunity to acquire neighboring properties like Smart Living and 4 eighty West Parker.  We are looking forward to taking advantage of all the synergies this will create as well as those that will be created by our award-winning operations team.  We plan to give the property a light capex update and will rebrand it to better serve the community.”

The HFF debt placement team representing the borrower was led by managing director Cortney Cole.