WASHINGTON, D.C. – August 7, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces acquisition financing for Northlake Townhomes, a 76-unit, garden-style apartment property in North Charleston, South Carolina.

HFF worked on behalf of the borrower, Brick Lane, to secure the $5.25 million, 10-year, fixed-rate acquisition 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.  Freddie Mac has provided financing for 786 units with Brick Lane during the last two years.

Northlake Townhomes consists of 17 buildings encompassing spacious two- and three-bedroom units.  Located at 4135 Bonaparte Drive, the property is within one mile of Interstate 526, which provides access to major employers in the greater Charleston MSA.  Northlake Townhomes is also near the Charleston International Airport, Tanger Outlets and Joint Base Charleston.  The property is 98.68 percent occupied.

The HFF debt placement team representing the borrower included Jamie Leachman and Nicole Brickhouse.

SAN DIEGO, CA – August 6, 2018 – HFF announces the $10.25 million sale of commercial real estate investment and development firm SENTRE’s 35-unit apartment property Enclave at Lake Murray, a newly renovated, garden-style property in the Southern California community of La Mesa in San Diego County. 

The HFF team exclusively marketed the property on behalf of SENTRE, and procured the buyer, RM Realty.

Enclave at Lake Murray is located at 5476 Kiowa Drive approximately 15 minutes northeast of downtown San Diego and the city’s world-class beaches and just south of Lake Murray, a popular destination for bicycling, jogging and hiking. The property is two miles from downtown La Mesa, known locally as La Mesa Village, which features restaurants, premium retail, historic destinations and nightlife. 

Originally purchased by SENTRE for $7.1 million in December 2013, Enclave at Lake Murray features two-story townhome-style units with spacious one- and two-bedroom floor plans totaling 28,950 rentable square feet and common area amenities, including a swimming pool, spa, grilling area, dog park and fitness center. The property was 94 percent occupied at closing.

“We are pleased to have successfully repositioned Enclave at Lake Murray, selectively renovating units and materially increasing rents since our acquisition in 2013,” said Doug Arthur, President and CEO of SENTRE.  “We very much believe in the Lake Murray pocket of La Mesa and think the buyer will do very well with the asset.”

The HFF investment advisory team representing the seller consisted of senior director Hunter Combs.

“The recent surge of high-end apartment development in Mission Valley has translated to robust rent growth in the surrounding submarkets,” Combs said. “Turnkey finishes within unique townhome-style floorplans at Enclave at Lake Murray created significant interest from capital attracted to the long-term future of La Mesa.”

LOS ANGELES, CA – August 1, 2018 – HFF announces $35 million in financing for EastView Apartments, a newly completed, 121-unit, Class A apartment property adjacent to Downtown Los Angeles, California.

The HFF team worked on behalf of the borrower, Lion Real Estate Group, to secure the 12-year fixed-rate loan with an insurance company. The loan, which funded immediately upon receipt of the temporary certificate of occupancy (TCO), includes five years of interest only payments and multiple future funding mechanisms.  The rate was locked for three months prior to funding with a spread in the low 100’s.

EastView Apartments is located at 327 N. Boylston Street just outside DTLA, Silverlake and Echo Park.  The property comprises a mix of contemporary studio, one- and two-bedroom units ranging from 555 to 1,267 square feet.  EastView Apartments offers residents unobstructed views of the city skyline; a fifth-floor sky deck with firepit, grills and dining tables; co-working lounge with refreshment bar and large-screen TV; swimming pool with hot tub and lounge; state-of-the-art fitness center; secured parking; bike share program; and electric car charging stations. The property is currently leasing up quickly due to the location, quality of construction and high-end amenities being offered at a significant discount to other recently constructed buildings in downtown.

The HFF debt placement team representing the borrower included managing director Marc Schillinger and associate Peter Berges.

“We identified that competitive construction take-out financing was available before the property was stabilized due to the quality of the asset and the strength of the sponsorship,” Schillinger said.  “Lion locked in the rate before the project was completed and the loan funded immediately at TCO.  This allowed Lion to pay off the construction loan and mitigate interest rate fluctuation while they were leasing up the property.”

DENVER, CO – July 31, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces $7.74 million in financing for two Colorado Springs, Colorado, apartment communities – Alvarado Place and Solar Vista.

The HFF team worked on behalf of Radford Investment Properties to secure two separate fixed-rate loans through the Freddie Mac Small Balance Loan program.  Proceeds from the loan for Alvarado Place refinanced a floating-rate loan the HFF team sourced for the borrower in 2016 and proceeds from the loan for Solar Vista were used to acquire the property.

Alvarado Place is positioned near major Colorado Springs thoroughfares, including Fountain Boulevard, Powers Boulevard and Interstate 25.  Situated at 1465 Alvarado Drive, the community shares a property line with the U.S. Post Office and is directly east of the Leon Young Sports Complex.  The property comprises 99 studio, one- and two-bedroom units averaging 519 square feet each housed within five, two-story residential buildings. 

Solar Vista is a 28-unit property located at 1535 S. 8th Street in Colorado Springs, approximately five miles west of Alvarado Place.  The community is one mile from Interstate 25 and just north of the acclaimed Broadmoor luxury resort and Ivy Wild redevelopment area.  Units include a mix of one- and two-bedroom layouts averaging 563 square feet within a three-story building.

The HFF debt placement team representing the borrower consisted of director Brock Yaffe.

“HFF continues to help Radford meet its financing needs at the highest level,” said a representative from Radford Investment Properties.  “They provide excellent customer service and deliver loans on time and within the agreed upon terms.  Having financing security allows Radford to concentrate on deal-specific parameters while under contract to make the best investment decisions for its clients.”

HOUSTON, TX – July 31, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces sale of and acquisition financing for Huntington Glen, a 364-unit, value-add multi-housing community in Houston, Texas.

The HFF team marketed the property exclusively on behalf of the seller, BH Equities/L5 Investments.  GVA Real Estate Group purchased the asset free and clear of existing debt.  Huntington Glen is the group’s first purchase in the Houston market.  In addition, HFF’s debt placement team worked on behalf of the new owner to secure a three-year, floating-rate acquisition loan with two one-year extension options through one or more funds managed by Marathon Asset Management, LP.

Huntington Glen is located at 12023 Bissonnet near the intersection of S. Kirkwood Drive in the Alief submarket of southwest Houston.  Completed in 1983, the gated community offers a mix of one-, two- and three-bedroom units ranging from 450 to 1,179 square feet with features, including hardwood flooring, walk-in closets, wood burning fireplaces, sunrooms, washer and dryer connections, and private patios or balconies.  Common area amenities include two swimming pools, a playground area and business center.

The HFF investment advisory team representing the seller included director Joey Rippel and Chris Young and analyst Connor Phillips.

HFF’s debt placement team representing the buyer consisted of managing director Robert Wooten and analyst Jackson Finch.

“The opportunity to purchase true value-add, workforce housing product continues to attract new buyers to Houston,” Rippel said.  “There are few properties like Huntington Glen left in the market today – those that haven’t had any renovations.”

“This transaction is a win-win for both parties involved, given the limited supply of these Class B and C deals in the market and the potential for future growth in returns supported by current long-term trends,” Rippel added.

TAMPA, FL – July 30, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of St. Johns Lofts, a newly built, 175-unit apartment community in the Central Florida community of Sanford.

The HFF team marketed the property on behalf of the seller, Inland Atlantic Seminole Multifamily, LLC, a solely owned entity of Inland Atlantic Development Corporation.  NM Residential purchased the unencumbered asset.

Completed in 2017, St. Johns Lofts is located just east of Interstate 4 at 1840 Rinehart Road in Sanford, which provides easy access to the nine-million-square-foot Lake Mary/Heathrow office market and access into downtown Orlando within 20 miles.  The four-story property consists of a mix of one- and two-bedroom units.  Community amenities include a saltwater pool, outdoor kitchen, outdoor lounge areas, dog park, bocce ball court, fitness center and clubhouse with Wi-Fi and coffee bar.

The HFF investment advisory team included senior managing director Matt Mitchell, director Zach Nolan and analyst Tyler Swidler.

“St. Johns Lofts was designed to be affordable for renters with efficient floor plans averaging 786 square feet and rents of $1,053 at the time of marketing,” Mitchell said.  “The property filled a void in the market and leased up in just three months.”