NEW YORK, NY – June 19, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has been selected to exclusively market the sale of 25 Monroe Place, a 12-story, 67-unit, luxury apartment building located in the Brooklyn Heights neighborhood of Brooklyn, New York. This offering provides a rare opportunity to acquire a trophy asset in the most sought-after neighborhood in Brooklyn. The vast majority of the property is comprised of fair-market units not subject to rent stabilization.

25 Monroe Place is situated in the Brooklyn Heights historic district, which provides immediate access to Manhattan, the Brooklyn Waterfront, Brooklyn Bridge Park, Downtown Brooklyn and DUMBO. Brooklyn Heights is characterized by charming brownstones and plush tree-lined streets, and the property is surrounded by medium- and low-density buildings that provide water and Manhattan skyline views. Built in 1938, 25 Monroe Place combines pre-war architectural elements and spacious apartment layouts with newly upgraded condo-quality finishes, including custom millwork; kitchens with Caesarstone countertops and marble tile and backsplashes; and bathrooms with custom vanities, stone and tile work, La Cava sinks and Grohe plumbing fixtures. 25 Monroe Place is now positioned as the most luxurious rental asset in Brooklyn’s most coveted neighborhood. Brooklyn Heights has a rich history as the premier residential location in Brooklyn for over 150 years and represents a mature housing market with best-in-class convenience, amenities, culture and streetscape beauty.

The HFF investment advisory team is led by managing directors Jeff Julien and Rob Hinckley and director Steven Rutman.

MORRISTOWN, NJ – June 19, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged the $13.25 million refinancing of SOMA, a 69-unit luxury apartment community in Somerville, New Jersey.

HFF worked exclusively on behalf of the borrower, Sterling Properties Group, LLC, to secure the long-term, fixed-rate financing from New York Life Insurance Company.

SOMA is located at 110 South Bridge Street adjacent to the Somerville Train Station, which provides access to New York’s Penn Station.  Additionally, the LEED Silver property is less than half of a mile from NJ Transit bus service and less than seven miles from major highways, including Interstate 287, Interstate 78, Route 202/206 and Route 22.  Completed in 2019, SOMA’s 69 luxury residences feature a mix of studio, one- and two-bedroom floor plans with stainless steel appliances, European-style cabinetry, quartz countertops, subway tile backsplash, Moen faucets and fixtures and walk-in closets.  Community amenities include a private fitness center, tech lounge, bike share program and proximity to downtown Somerville’s restaurants, retail and entertainment.

The HFF debt placement team representing the borrower was led by senior managing directors Jim Cadranell and Jon Mikula and analyst Andrew Zilenziger.

CHICAGO, IL – Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the sale of Hurstbourne Estates, a 270-home, luxury, garden-style apartment community located in the East End of Louisville, Kentucky.

HFF 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, Peak Capital Partners.

Hurstbourne Estates is located at 10405 Watermark Place with easy access to downtown Louisville and a multitude of demand drivers, including Churchill Downs, Louisville Slugger Field, Kentucky International Convention Center, University of Louisville and the KFC Yum! Center. Completed in 2014, the 17-building property comprises a mix of one-, two- and three-bedroom floor plans that average 1,059 square feet.  Units feature granite counters, Shaker-style espresso cabinets, energy-efficient appliances, wood-style flooring, crown molding, in-unit washers and dryers, patios or balconies, open layouts and oversized closets with built-in shelving.  Select homes also provide private entrances and direct-access attached garages.  Community amenities include manicured courtyards and walking paths, controlled access, a business center, resort-style swimming pool and sundeck, expansive fitness center, dog park, modern club house, community kitchen, recreation room with billiards table and barbeque and picnic areas.  The community was 94% occupied at closing.

The HFF investment advisory team included senior director Wick Kirby, managing director Sean Fogarty, director Kevin Girard and associate Amanda Friant along with managing director Marty O’Connell, a licensed Kentucky real estate broker.

CHARLOTTE, NC – June 11, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the $57.3 million sale of Solis Berewick, a 275-unit, Class A apartment community in Charlotte, North Carolina.

HFF marketed the property on behalf of the seller, Terwilliger Pappas, and procured the buyer, RK Properties.

Solis Berewick is located at 9550 Gannon Drive next to the grocery-anchored Berewick Town Center development, part of the 1,200-acre Berewick master-planned community in southwest Charlotte.  The property’s prime location also provides accessibility to Interstate 485 and top employers in the Uptown Charlotte and Ballantyne employment hubs.  Completed in 2017, Solis Berewick has units averaging 1,016 square feet featuring top-quality finishes such as ENERGY STAR® stainless steel appliances, custom-built white cabinetry, granite countertops, plank flooring, oversized windows, full-size washers and dryers, Nest Learning Thermostats, ButterflyMX video intercom systems, and spacious balconies and patios.  The NGBS Green Certified community also features high-end amenities, including a resort-style saltwater pool, outdoor grilling area with fire pit, gaming and entertainment lounge, state-of-the-art fitness center, private yoga/spin studio, dog park and pet spa, electric car charging stations, community nature trail and playground.

The HFF team was led by senior director Allan Lynch, managing director, Justin Good, director Caylor Mark and managing director Jeff Glenn.

“With the vision and execution of Solis Berewick, Terwilliger Pappas delivered a high-performing, premier asset in one of the fastest growing areas of Charlotte,” Lynch said.  “With its investment, RK Properties certainly recognized these attributes, and we are excited to be a part of their first acquisition in Charlotte.”

Holliday Fenoglio Fowler, L.P. (HFF) announces $22.896 million in financing for River Vista, a 196-unit, garden-style apartment community in the North Atlanta community of Sandy Springs, Georgia.

HFF worked on behalf of Stonebridge Investments to secure a seven-year, fixed-rate loan with five years of interest-only payments through Freddie Mac’s Green Advantage program.  The loan will be serviced by HFF, a Freddie Mac Optigo℠ lender for Conventional Loans. 

River Vista is located at 9200 Roberts Drive just a few miles north of the I-285/GA-400 interchange, which provides access to the Central Perimeter office market and downtown Atlanta.  Originally constructed in 1996, the property features a mix of one-, two- and three-bedroom floor plans that were more than 96% occupied at closing.  Community amenities include a swimming pool with sundeck, outdoor kitchen with grills, outdoor social area with TV, playground, clubhouse lounge with demonstration kitchen and 24-hour fitness center.

The HFF debt placement team representing the borrower included managing director Elliott Throne and director Ware Shipman.

“River Vista marks Stonebridge’s third acquisition within the Sandy Springs submarket allowing them to further capture the demand from the new headquarters of State Farm and Mercedes Benz,” Shipman said.  “We were pleased to work with Freddie Mac in providing Stonebridge with a loan structure that will allow them to capitalize on the continued growth of Central Perimeter and the GA-400 corridor.”

AUSTIN, TX – May 20, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $92 million in financing for a three-property, 1,653-bed student housing portfolio in Iowa, Texas and South Carolina.

HFF worked on behalf of Aspen Heights and Safanad to secure the three-year, floating-rate loan through a large institutional lender.  Loan proceeds were used to refinance existing construction financing.

Built between 2017 and 2018, the three geographically diverse communities are well-constructed with bed/bath parity, best-in-class student amenity offerings and finishes tailored to their respective markets.  Aspen Ames is a 422-bed, garden-style property located at 3306 Lincoln Way in Ames, Iowa, which serves Iowa State University.  Aspen Houston consists of 717 beds within two four-story, wrap-style buildings located at 4971 Martin Luther King Boulevard in Houston, Texas, which serves the University of Houston.  Aspen Conway is a 514-bed property totaling 116 cottage-style buildings located at 2251 US-501 East in Conway, South Carolina, which serves Coastal Carolina University.

The HFF debt placement team was led by senior managing director Doug Opalka, senior director Casey Wenzel and director Michael Johnson.

“Aspen Heights and Safanad are one of the premier student housing owner/developers in the United States, and this portfolio presents a significant opportunity for value creation for the partnership,” Opalka said.  “This was a phenomenal result for all involved.”