HOUSTON, TX – October 11, 2018 – HFF announces the sale and acquisition financing for WaterWall Place, a LEED Silver, seven-story luxury multi-housing community in Houston’s Uptown District.

The HFF team marketed the property on behalf of the seller, Hines.  HASTA Capital purchased the offering free and clear of existing debt.  Additionally, HFF worked on behalf of the new owner to secure a fixed-rate acquisition loan through Barings Real Estate, part of Barings LLC, one of the world’s largest diversified real estate investment managers, on behalf of an institutional investor.

The seven-story, 322-unit residential project is situated in the heart of Uptown Houston, centered among the Gerald D. Hines Water Wall Park, the iconic Williams Tower and The Galleria.  Designed by Jackson & Ryan Architects in collaboration with Wallace Garcia Wilson Architects, the 316,287-square-foot signature project was Hines’ first multifamily development in Houston and was completed in 2014.

Kevin Batchelor, Hines senior managing director, said, “WaterWall Place was a significant project for us and the property provides the buyer a first-class asset with an exceptional location.  The project’s premier setting, along with its architectural design and amenities, has resulted in attracting a very affluent renter profile and a successful lease-up with rents above pro forma.”

Rob Little, Head of Real Estate Core Mortgage for Barings added, “We are pleased to add this high-quality multifamily property to our Houston portfolio, consistent with our strategy of lending on properties in walkable locations and population growth centers.  We look forward to expanding our relationship with HASTA Capital.”

The HFF investment advisory team representing the seller included senior managing director Todd Marix, managing director Chris Curry and analyst Estee Ibanez.

HFF’s debt placement team representing the borrower included senior managing director Matt Kafka and managing director Kelly Layne.

CHICAGO, IL – October 11, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of and acquisition financing for Stone Crossing Apartments, a 258-unit apartment community in the Chicago suburb of Aurora, Illinois.

The HFF team marketed the property exclusively on behalf of the seller, a partnership between Graycliff Capital Partners, LLC, Buligo Capital Partners and The Ferndale Realty Group, and procured the buyer, Cunat Inc.  Additionally, HFF worked on behalf of the new owner to secure a three-year, floating-rate acquisition loan through Bridge Debt Strategies Fund Manager LLC, a subsidiary of Bridge Investment Group LLC, which currently manages over $12 billion of assets under management.

Stone Crossing Apartments is located at 1240 Nantucket Road approximately two miles south of Interstate 88 and three miles from downtown Aurora.  The property’s location offers accessibility to suburban Chicago’s major employment corridors, as well as leading regional healthcare providers and multiple retail and entertainment amenities.  Stone Crossing consists of three two-story townhome buildings comprising three-bedroom units averaging more than 1,200 square feet each and two three-story apartment buildings comprising a mix of one- and two-bedroom apartment units averaging more than 760 square feet.

Cunat Inc. acquired Stone Crossing as a value-add opportunity with plans to completely upgrade, renovate and re-brand the community under the new name, Arbor West.  Cunat Inc. will renovate unit interiors, demolish the current community buildings, and build a new leasing office, clubhouse and indoor pool.  The parking lot and landscaping will also be rehabbed, which will reposition the property into a new class of apartments in Aurora.  Home and property amenities currently include white kitchen cabinetry with brushed nickel hardware, tile backsplashes in the kitchen and an outdoor picnic area with grills.  The community was 97 percent occupied at closing.

The HFF investment advisory team representing the seller included senior director David Gaines and senior managing director Sean Fogarty.

HFF’s debt placement team representing the borrower included senior directors Trent Niederberger and Jason Bond.

WASHINGTON, D.C. – October 10, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $90 million sale of and acquisition financing for 672 Flats, a 173-unit, newly completed multi-housing community in the Ballston submarket of Arlington, Virginia.

The HFF team marketed the property exclusively on behalf of the seller, a joint venture between The Penrose Group and Clark Enterprises, Inc.  The Chevy Chase Land Company purchased the property free and clear of existing debt.  In addition, HFF’s debt placement team worked on behalf of the new owner to arrange a 12-year, fixed-rate acquisition loan through USAA Real Estate.

672 Flats is a six-story community located at the convergence of N. Glebe Road, Wilson Boulevard and Interstate 66 in the highly sought-after Rosslyn-Ballston Corridor.  Completed earlier this year, the property has earned a WalkScore® of 93 given its proximity to an array of university campuses, restaurants, shopping and entertainment venues, including Ballston Quarter, which will transform the neighborhood into an open-air town center.  In addition, 672 Flats is approximately three blocks from the Ballston Metro Station (Orange and Silver lines), which provides access into the Washington, D.C. CBD within five stops and Tysons Corner within three stops.

The LEED Silver, boutique community incorporates multiple green building elements blended with high-end, modern finishes.  Units, which range from studio to two-bedroom loft- and flat-style floor plans, feature open layouts with stainless steel appliances and wall-mounted hoods, custom cabinetry, custom pantries with built-in microwaves, fixed and movable kitchen islands, expansive windows, hardwood-style flooring and full-sized washers and dryers.  Community amenities include elegantly designed common areas, including a resident lounge with bar; game room with billiards, poker table, shuffle board, air hockey and gaming center; fitness room with cardio, free weights and boxing/kickboxing area; cyber lounge/mail room with computer stations and coffee service; bike storage; and controlled-access garage parking.

The HFF investment advisory team representing the seller included Walter Coker and Brian Crivella.

HFF’s debt placement team representing the new owner included Jamie Leachman, Chris Hew and Nicole Brickhouse.

“This transaction represents another example of the strength of the pre-sale market, not only for buyers, but also for the debt markets willing to purchase and lend on top-quality assets in core locations,” Coker said.

WASHINGTON, D.C. – October 9, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $83 million sale of Alexan Concorde, a 310-unit, Class A luxury apartment community in Linthicum Heights, Maryland.

The HFF team marketed the property exclusively on behalf of the seller, a joint venture between Trammell Crow Residential and an affiliate of Western & Southern Financial Group, represented by its subsidiary Eagle Realty Group.  The buyer, procured by the HFF team, was AvalonBay Communities, Inc.

Alexan Concorde is located at 811 Concorde Circle less than a mile from the Baltimore-Washington Parkway (Highway 295) and adjacent to Baltimore-Washington International (BWI) Airport.  Though the property is situated on 11.4 acres in a quiet wooded neighborhood setting, the property is still highly accessible to more than 36.5 million square feet of office space within 10 minutes and a short commute from other major employment drivers in Baltimore, Fort Meade and Washington, D.C.  Completed in 2016, the Alexan Concorde’s five elevator-serviced buildings house a mix of studio, one-, two- and three-bedroom units averaging 973 square feet with features, including stainless steel appliances, granite countertops, chef islands, hardwood-style flooring, designer lighting packages, keyless entry and walk-in closets.  Community amenities include a resort-style pool with fire pit and grilling stations; clubhouse with shuffleboard, billiards, outdoor ping pong and multiple high definition TVs; community kitchen and workspace; oversized fitness area with cross fit gym and adjoining children’s mini-club; and dog run.

The HFF investment advisory team representing the seller included Walter Coker and Brian Crivella.

“The sale of Alexan Concorde represents a prime example of the renewed interest by institutional REITs in high-quality suburban assets,” Crivella commented.

CHICAGO, IL – October 3, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and arranged acquisition financing for River’s Cove Apartments, a 112-unit multi-housing community in the Milwaukee suburb of Germantown, Wisconsin.

The HFF team marketed the property exclusively on behalf of the seller, Mandel Group, Inc., and procured the buyer, Weidner Apartment Homes.  Additionally, HFF worked on behalf of the new owner to secure a 12-year, fixed-rate, Fannie Mae acquisition loan through M&T Realty Capital Corporation.

River’s Cove is nestled between Hupt Strausse Park and Blackstone Country Club at W172 N11392 Division Road in Germantown.  The nearly 11-acre property overlooks the Menomonee River and is approximately 20 miles northwest of the Milwaukee CBD.  In addition, River’s Cove is accessible to major employers at Germantown Industrial Park, one of the largest industrial parks in Wisconsin, as well as two Fortune 500 Companies, the 350-acre Germantown Business Park and several top healthcare providers.  Homes average 1,062 square feet and include washers and dryers, fireplaces, and balconies or patios.  Community amenities include a picnic area and pond, garage parking, golf course and waterfront views, and quick access to nearby walking/biking trails.  The property provides additional upside to the buyer through the completion of an interior renovation program and was 98 percent occupied at closing.

The HFF investment advisory team representing the seller included senior directors Wick Kirby and Kevin Girard, managing directors Sean Fogarty and Marty O’Connell, senior managing director Jaime Fink and executive managing director Matthew Lawton.

HFF’s debt placement team representing the new owner included senior managing director Tom Wilson and senior director Jason Bond.

Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Steward’s Crossing, a 240-unit multi-housing community in Lawrenceville, Mercer County, New Jersey.

The HFF team marketed the property exclusively on behalf of the seller, Merion Realty Partners and a joint venture partner.  Berkshire Group purchased the property.

Steward’s Crossing is located at 1000 Stewards Crossing Way in the affluent Princeton submarket of Lawrenceville, less than one mile from Route 1, Interstate 95 and Interstate 295.  The property’s proximity to both Princeton and the state capital of Trenton provides access to numerous employment and commercial drivers as well as Princeton University.  Totaling 240 homes spread throughout 12 buildings and 24 acres, the property has a wooded, park-like atmosphere and best-in-class amenities, including a spacious clubhouse, 24-hour fitness center, tennis court, swimming pool with sundeck, outdoor lounge with Wi-Fi, grilling area, dog park, walking paths and covered parking.  Steward’s Crossing has a diverse mix of one-, two- and three-bedroom floor plans, which feature renovated kitchens and bathrooms, in-unit washers and dryers, and walk-in closets, with some also equipped with fireplaces, vaulted ceilings, and patios or balconies.

The HFF investment advisory team representing the seller included Michael Oliver, Jose Cruz, Kevin O’Hearn and Steven Simonelli, all working closely with HFF’s Philadelphia multi-housing team, including Mark Thomson, Carl Fiebig and Fran Coyne.

“The greater Princeton area has incredible fundamentals and is one of the New Jersey’s strongest multi-housing submarkets,” Oliver said.  “We have seen an increased appetite from institutional capital within the region. Berkshire will have great success continuing the efforts of the sellers at the property.”

HFF and Holliday GP Corp. are licensed New Jersey real estate brokers.