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.”

SAN DIEGO, CA – June 5, 2019 – HFF announces financing for the acquisition of 5008 and 5060 Hazeltine Avenue Apartments, two apartment buildings totaling 36 units in the Sherman Oaks neighborhood of Los Angeles, California.

HFF worked on behalf of the borrower, a joint venture between NextGen Apartments, LLC and Hanover Financial, LLC to arrange the fixed-rate acquisition and renovation loan through a life insurance company.

5008 and 5060 Hazeltine contain two one-bedroom units and 34 two-bedroom units averaging 1,044 square feet along with a total of 36 covered parking spaces.  The properties are located just north of Highway 101 and just east of Interstate 405 in the San Fernando Valley.  Additionally, the properties are situated directly across from the Van Nuys/Sherman Oaks Recreation Center and within a mile of additional lifestyle amenities, including Westfield Fashion Square, Notre Dame High School, Van Nuys Middle School and Sherman Oaks Hospital.

“Our joint venture seeks value-add multi-family opportunities throughout Southern California that require significant repositioning through improved property management and capital improvement,” said Steven Ludwig, co-founder of NextGen Apartments, LLC.

The HFF debt placement team representing the borrower was led by managing director Patrick Burger and associate Bharat Madan.

CHICAGO, IL – June 4, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the sale of and arranged financing totaling $51.135 million for a three-property, 335-unit apartment portfolio in downtown Kansas City, Missouri.

HFF marketed the property on behalf of the seller, Steadfast Income REIT, Inc., and procured the buyer, ARTISAN Capital Group.  Additionally, HFF worked on the new owner’s behalf to secure a $38.85 million, seven-year, fixed-rate Fannie Mae loan through HFF’s risk-transfer joint venture with M&T Realty Capital Corporation, as well as $12.285 million in joint venture equity from Westminster Capital LLC.  In addition to funding the acquisition, proceeds from the financing will be used to implement the new owner’s value-add strategy by improving operations and management.

The properties in the portfolio are Library Lofts, a 118-unit building located at 1004 Baltimore Avenue; Stuart Hall, a 115-unit building located at 2121 Central Street; and EBT Lofts, a 102-unit building located at 1601 Walnut Street.  The historic buildings, which were originally built between 1899 and 1910, are situated within two of Kansas City’s most in-demand downtown locations, the Library District (Library Lofts) and the Crossroads Arts District (Stuart Hall and EBT Lofts), providing residents with convenient access to major area transportation arteries and some of the city’s trendiest of retail, dining and entertainment amenities.  The adaptive re-use properties comprise a mix of loft-style units ranging from studio to three-bedroom floor plans totaling 333,180 rentable square feet.  In addition, the buildings include 21,130 square feet of ground-floor commercial space.  The portfolio is 94 percent occupied overall.

The HFF investment advisory team representing the seller was led by senior director David Gaines, managing director Marty O’Connell and senior managing director Danny Kaufman.

HFF’s debt placement team representing the new owner was led by managing director Matthew Schoenfeldt and director Gregory Napper.

CHICAGO, IL – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Prairie Winds of St. Charles, a 250-home, luxury townhome-style apartment community in the Chicago suburb of St. Charles, Illinois.

HFF marketed the property on behalf of the seller, Executive Capital Corporation.  TLC Management Co. purchased the offering for an undisclosed amount.

Prairie Winds of St. Charles is located at 2600 Prairie Winds Drive in St. Charles, which has been named Illinois’ No. 1 city for job growth by WalletHub.  The community is approximately 40 miles west of downtown Chicago and offers nearby access to award-winning schools, leading healthcare options, premium shopping, upscale dining, outdoor recreation amenities and multiple top international and regional employers.  Completed in 2018, floor plans comprise a mix of one-, two- and three-bedroom townhome-style units averaging 1,254 square feet.  Homes feature condo-quality amenities, including gourmet kitchens, designer lighting packages, living room fireplaces, garden soaking tubs, walk-in closets, high ceilings, oversized private balconies or patios, full-size washers and dryers, and heated attached one- and two-car garages.  Community amenities include manicured nature trails and a fish pond, outdoor resort-style pool, outdoor kitchen with grilling stations, fire pit, bark park, children’s playground, clubhouse with lounge seating and fireplace, billiards room, indoor lap pool, state-of-the-art fitness center with personal training services, and multiple conference rooms.

The HFF investment advisory team included managing directors Sean Fogarty and Marty O’Connell, senior director Wick Kirby, director Kevin Girard and analyst Kyle Butler.