CHARLOTTE, NC – December 3, 2018 – HFF announces the sale of Stonehenge Apartments, a 452-unit, garden-style multi-housing community in the North Raleigh submarket of Raleigh, North Carolina.

The HFF team marketed the property on behalf of the seller, Chicago-based Magnolia Capital.  HFF previously arranged the sale of the property to Magnolia Capital in January 2017.

The 46.6-acre apartment community is located at 7303 Hihenge Court in North Raleigh’s master planned Stonehenge neighborhood less than 10 miles from downtown. Stonehenge Apartments is minutes away from Interstates 540 and 440, providing access to Research Triangle Park, downtown Raleigh, and major employers and lifestyle centers in North Hills and Crabtree Valley.  The property is also walkable to the adjacent Stonehenge Market, a grocery-anchored shopping center that includes Harris Teeter, Starbucks and Rite Aid.  Stonehenge Apartments feature a variety of one-, two- and three-bedroom units, as well as a best-in-market range of amenities, including a 7,000-square-foot clubhouse with fitness center, indoor basketball/racquetball court, three swimming pools, grilling areas, lawn amenity space, pet wash, playground, fire pit, business center, and resident lounge with demo kitchen.  Magnolia Capital significantly upgraded common area and clubhouse spaces and renovated unit interiors.

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

“Stonehenge is a landmark apartment community in a submarket with little new development,” Glenn said.  “Recognizing these attributes, Magnolia Capital implemented a first-class repositioning of the asset that will benefit future ownership for years to come.”

DENVER, CO – December 3, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the financing of LakeHaus, a 200-unit, Class A apartment development located on Lake Calhoun in Minneapolis, Minnesota.

The HFF team worked exclusively on behalf of a joint venture led by Brickstone Partners Inc. and KMK Capital, in partnership with Deutsche Finance America, to secure a low-leverage, floating-rate construction loan through a national bank.  Additionally, HFF procured mezzanine financing through EverWest Real Estate Partners.  The development is anticipated to be valued at more than $119 million when complete.

LakeHaus will be a best-in-class, eight-story ‘post-tensioned concrete’ apartment building, constructed on a 1.7-acre site at 3100 West Lake Street that features two levels of subterranean parking totaling 373 spaces.  The development site is optimally situated on Lake Calhoun’s Northwest shore and in close proximity to Calhoun Commons, a Whole Foods Market-anchored shopping center.  Additionally, LakeHaus will be within walking distance to a future light rail stop and is less than five miles from downtown.  The unit mix comprises 36 studio, 85 one-bedroom and 74 two-bedroom units as well as five penthouses.  In addition to luxury finishes in each of the homes, the community will include a rooftop swimming pool and sundeck, spacious courtyards, gourmet grilling stations, an outdoor maze, top-floor clubroom, state-of-the-art fitness center, lobby with coffee bistro, guest suite and car share service along with a communal sailboat for use on the lake. Due for completion in 2020, the property will provide sweeping views of Lake Calhoun, downtown and the surrounding area.

The HFF team representing the borrower included director Kristian Lichtenfels, managing director Josh Simon, director Stella Pappas and managing director Jules Sherwood, a licensed Minnesota real estate broker.

“Our HFF team is thrilled to have had the opportunity to advise and assemble a strong foundation of capital for this landmark development and the LakeHaus development team,” Lichtenfels said.

DENVER, CO – November 29, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces debt and equity financing totaling $23.5 million for the development of Cherokee Flats, a Class A, mid-rise building in Denver, Colorado, with 4,980 square feet of ground-level retail and 139 apartment units.

Working on behalf of the developer, LCP Development, the HFF team secured a $20.145 million, floating-rate construction loan with a regional bank.  In addition, HFF arranged $3.355 million in preferred equity.

Cherokee Flats will total 97,179 rentable square feet within an eight-story building consisting of five residential levels atop three levels of podium parking and ground-floor retail.  Situated at 2065 S. Cherokee Street, the site is bounded by the major Denver thoroughfares of S. Broadway to the east, W. Evans Avenue to the south and S. Santa Fe Drive to the west, and is a block and a half from the Evans RTD Light Rail station.  Cherokee Flats will feature a large amenity deck on level four, which will include a swimming pool and spa, firepit, barbecues, outdoor kitchen and lounge seating.  Additional amenities will include a fitness center, bike maintenance and storage room, dog run, dog wash and fifth-floor party room with expansive western views.  Completion is expected in 2020.

The HFF debt placement team representing the borrower consisted of director Leon McBroom.

CHARLOTTE, NC – November 28, 2018 – HFF announces the sale and financing of an eight-property multi-housing portfolio totaling 2,883 units in various high-growth submarkets within North Carolina’s Research Triangle.

The HFF team marketed the offering on behalf of the seller, and procured the buyer, a Carroll Organization joint venture.  Additionally, HFF’s debt placement team worked on behalf of the new owners to arrange floating-rate acquisition loans for six of the eight communities through Freddie Mac’s CME Program.  The securitized loans will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.

The properties in the portfolio are: Oaks at Weston in Morrisville; Meadows at Kildaire in Cary; The Reserve at Lake Lynn, Woodland Court, Walnut Creek and Spring Forest Apartments in Raleigh; Copper Mill in Durham; and The Crest at West End in Carrboro.  Units average 962 square feet overall and the average year of completion for the portfolio is 1990.  The portfolio’s location within the Research Triangle positions it within the path of sustainable job growth from the region’s innovation-based economy, which is anchored by three research universities – Duke University, the University of North Carolina at Chapel Hill and North Carolina State University.  Financing was secured for Oaks at Weston, Meadows at Kildaire, The Reserve at Lake Lynn, Woodland Court, Walnut Creek and Copper Mill.

The HFF investment advisory team representing the seller included managing directors Justin Good and Jeff Glenn, senior director Allan Lynch and director Caylor Mark along with senior managing director Roberto Casas.

HFF’s debt placement team representing the new owner included managing director Elliott Throne, senior director Roger Edwards, senior managing director Ed Coco and associate Ware Shipman.

DENVER, CO – November 28, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces $9.52 million in financing for King Street Apartments, a newly built, 29-unit/94-bed apartment property net leased to Regis University in Denver, Colorado.

The HFF team worked exclusively on behalf of the borrower, a joint venture between Urban Fabric Denver and Slipstream Properties, to secure the 10-year, 4.56 percent, fixed-rate loan through a national bank.  The loan features two years of interest-only payments followed by a 30-year amortization schedule.  The borrower assembled the development site, secured a long-term net lease from Regis University and developed the property with Regis' input on property design and construction.

King Street Apartments consists of a five-story, podium-style building containing a total of 94 bedrooms and 94 bathrooms in a variety of one- through four-bedroom furnished floor plans with shared central living rooms and kitchens.  Unit amenities include quartz countertops, nine- and ten-foot ceilings, in-unit washers and dryers, and key fob entry.  Completed earlier this year, the Class A property features a courtyard, grilling area, fire pit, conference room and study areas and is equipped with 44 parking spaces, 42 of which are covered.

The property is located approximately four miles from downtown and just half of a block from Regis’ main campus at 4923-4935 King Street in Denver’s Berkeley neighborhood.  Situated north of the Lowell Boulevard exit off Interstate 70, the property provides easy access to dining and nightlife along Tennyson Street as well as numerous recreational activities, including Willis Case Golf Course, Rocky Mountain Lake Park, Berkeley Lake, Creekside Park, Inspiration Point Park, Sloan’s Lake Park, Berkeley Dog Park and Lakeside Amusement Park.

The HFF debt placement team representing the borrower included director Kristian Lichtenfels and associate Tyler Dumon.

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.”