HOUSTON, TX – Holliday Fenoglio Fowler, L.P. (HFF) announces it has secured financing for Shadowbrooke and Silverbrooke, two multi-housing communities totaling 552 units in the southwest Houston suburb of Stafford, Texas.

HFF worked exclusively on behalf of the borrower, Venterra Realty, to arrange two 10-year, fixed-rate loans with interest-only payments throughout the term.  Loan proceeds were used to refinance existing financing that HFF arranged in 2014.

Shadowbrooke and Silverbrooke are located at 1025 Dulles Avenue and 1020 Brand Lane approximately 18 miles southwest of downtown Houston.  Shadowbrooke was completed in 2003 and features 240 units that are 92 percent leased.  Completed in 2007, Silverbrooke has 312 units and is 93 percent occupied.  The properties are adjoined by a private park, including shared amenities such as a jogging trail, sand volleyball court, playground and putting green.  Each community houses its own resort-style swimming pool, hot tubs, clubhouses and fitness centers.

The HFF debt placement team representing Venterra was led by managing director Cortney Cole and analyst John Williamson.

SAN DIEGO, CA – May 22, 2019 – HFF announces it has arranged $20.5 million in financing for The Californian, a luxury residential and retail mixed-use development in the coastal San Diego submarket of Point Loma, California.

HFF worked on behalf of Murfey Company and Bishop Ventures to arrange the 10-year, fixed-rate loan through a commercial bank.  Loan proceeds were used to refinance existing construction financing.

The Californian is situated at the intersection of Kemper Street and Midway Drive adjacent to the newly completed West City Campus, a continuing education facility operated by the San Diego Community College District.  In addition, the property is two miles from the Liberty Station master-planned community and Ocean Beach and offers convenient access to I-5, I-8 and the Pacific Coast Highway.  The three-story, elevator-served building encompasses 81 residential units totaling 68,141 square feet, 3,137 square feet of ground-floor retail and 108 parking spaces.  Completed in 2018, units feature high-end, modern finishes and common area amenities include a rec room, courtyard with swimming pool, jacuzzi, barbeques and lounge areas throughout the property.

The HFF debt placement team representing the borrower was led by managing director Bryan Clark, senior managing director Aldon Cole and associate Bharat Madan.

DENVER, CO – May 20, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces financing totaling $190.873 million for six apartment communities comprising 1,843 units in Texas, Alabama and Colorado.

The HFF team worked on behalf of the borrower, Advenir, Inc., to secure the seven-year, fixed-rate loans in six separate transactions through Freddie Mac.  Two of the transactions were acquisition financing and the remaining four transactions were refinances from floating- to fixed-rate loans.  The refinances were in line with the borrower’s strategy to mitigate interest rates amid the volatile interest-rate environment.  The fixed-rate conversions took the ongoing LIBOR adjustment risk off the table and ultimately provided the borrower with a reduction in the all-in rate for each property with additional interest-only amortization.  All the loans will be serviced by HFF, a Freddie Mac Optigo℠ lender for Conventional Loans.

“At Advenir, we continually review our portfolio to increase value through interest-rate mitigation,” said Stephen L. Vecchitto, managing director and principal of Advenir, Inc.  “HFF has been a valuable partner in assisting us with our interest-rate mitigation strategy as well as structuring new financing on our acquisitions.”

The properties in the portfolio are: Advenir at Mayfield, a 300-unit property located at 3200 Bromley Place in the West Texas community of Midland; Advenir at The Meadows, a 320-unit property located at 5101 N. A Street in Midland; Advenir at Stone Park, a 480-unit property located at 6160 E. Sam Houston Parkway North in Houston; Advenir at Wynstone, a 258-unit property located at 6464 E. Sam Houston Parkway North in Houston; Advenir at Station 121, a 255-unit property located at 2000 2nd Ave South in Birmingham; and Advenir at Bear Valley, a 230-unit property located at 3550 S. Kendall Street in Denver, Colorado.  The properties averaged 94.8 percent occupied overall.

The HFF team representing the borrower included senior managing director Eric Tupler and managing directors Josh Simon, Cortney Cole, Chip Sykes and director Matthew Putterman.

WASHINGTON, D.C. – Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the $228 million sale and $126.9 million financing of Meridian at Pentagon City, a 534-unit, two-tower multi-housing property in Arlington, Virginia.

HFF marketed the property exclusively on behalf of the seller, a joint venture between Paradigm and a fund advised by the UBS Asset Management Real Estate & Private Markets – U.S., and procured the buyer, a joint venture between Polinger Development Co. and an unidentified institutional investor.  In addition, HFF worked on the new owner’s behalf to arrange fixed-rate acquisition financing through MetLife Investment Management.

Meridian at Pentagon City is located at 1221 and 1331 S. Eads Street adjacent to Amazon’s forthcoming 4.1 million-square-foot headquarters office.  In addition, the 95-percent-leased property is walkable to metro service and the Pentagon and is across the street from a Whole Foods Market and within a one-mile radius of an additional 1.9 million square feet of retail.  The property consists of two high-rise towers encompassing a mix of studio, one- and two-bedroom units averaging 846 square feet as well as two parking garages totaling 524 spaces.  In addition to its premier location and spacious units, the property also features two rooftop pools, two expansive outside terraces with grilling areas, an 18th-floor clubroom with views of the Capitol, a fitness facility, dog park, clubroom with gaming area, business center, guest suite accommodations, concierge service and a 24-hour front desk.

The HFF investment advisory team included Walter Coker, Brian Crivella, Stephen Conley and Matthew Lawton.

HFF’s debt placement team was led by Jamie Leachman.

MIAMI, FL – May 13, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announced today the sale of The Glen at Lauderhill, a 405-unit apartment community located in Lauderhill, Florida, a prime suburban growth market within Broward County.

HFF marketed the property exclusively on behalf of the seller and procured the buyer, Bar Invest Group INC.

The Glen at Lauderhill is located at 2360 NW 56th Avenue adjacent to the Florida Turnpike, which provides residents with a short commute to downtown Fort Lauderdale and top suburban employment corridors.  The property features a mix of one-, two- and three-bedroom units averaging 978 square feet.  Community amenities include a swimming pool, 24-hour fitness center, tennis court, dog park, playground, club house, resident enrichment center and business center with coffee bar.  The property was 97 percent occupied at closing.

The HFF investment advisory team was led by managing director Jaret Turkell, senior director Maurice Habif, director Simon Banke and analyst Jo Rousseau.

SAN FRANCISCO, CA – May 9, 2019 – HFF announced today it is working on behalf of BUILD, a San Francisco residential development company, to arrange investment partners for the construction phase of its India Basin development located within a rare opportunity zone in San Francisco, California.

With the City of San Francisco’s approvals secured, BUILD’s vision will transform the former gravel yard on the San Francisco waterfront into a pedestrian-first, walkable residential village.  The development lies within a designated opportunity zone, as established by the Tax Cuts and Jobs Act of 2017, which allows for significant tax benefits to the investment.  Originally 30 independent parcels that have been combined into one master-project, the size of the development and its location in an opportunity zone is particularly noteworthy in San Francisco, a city known for its scarcity of available real estate.

The land is entitled for approximately 3.4 million gross square feet of new development, including approximately 1.5 million gross square feet of residential space.  Once constructed, the mixed-use village will include 1,575 residential units, 200,000 square feet of commercial space, expansive open and recreation space, enhanced waterfront access and underground parking.

India Basin is in San Francisco’s Eastern Waterfront immediately south of the Dogpatch and Mission Bay neighborhoods and allows for easy access to the major job centers in downtown San Francisco and the peninsula, including burgeoning life science hubs in both Mission Bay and Oyster Point.  Nearby, new commercial space and housing are in development at Hunter’s Point Shipyard and Candlestick Point to the south.  India Basin has a reputation for being one of the sunniest neighborhoods in San Francisco and boasts a storied history and creative scene that complement areas of picturesque landscape and a rich ecology along San Francisco’s beautiful shoreline.

“BUILD, in partnership with HFF, is seeking investment partners for the construction phase of this unique development,” said Scott Eschelman of BUILD.  “We are excited to build this fully entitled parcel in such an incredible neighborhood and look forward to bringing in new partners to make our plans a reality.  From the beginning, BUILD has worked closely with neighbors, the city and the broader community to ensure that this project in India Basin is a welcome addition to San Francisco’s Eastern Waterfront.  BUILD has the local relationships and knowledge to make this project a success.”

The HFF equity placement team representing BUILD included senior managing director Charles Halladay, managing director Jordan Angel and senior director Chris Gandy.

Gandy stated that the site’s location and size provide a once-in-a-lifetime chance to develop an entire community within San Francisco.  “India Basin represents a unique investment prospect in a transformative development on the Eastern Waterfront of San Francisco.  The long-term nature of the entitlements and location in an opportunity zone will provide investors with tremendous optionality for value creation over time in one of the most constrained residential real estate markets in the world.  This site represents one of the best prospects in the United States to take advantage of the significant tax benefits available through opportunity zone investment.”

For more information on this development, go to: indiabasinsf.com.

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