CHICAGO, IL – January 7, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of LINEA, a newly constructed, 265-home, luxury high-rise apartment building located at 215 West Lake Street in downtown Chicago.
The HFF team marketed the property on behalf of the seller, a partnership between LaSalle Investment Management, Inc. and Moceri + Roszak, LLC. Pacific Reach purchased the offering for an undisclosed amount.
Completed in mid-2017, LINEA is a 33-story tower comprising nearly 235,000 rentable residential square feet across a mix of studio through three-bedroom floor plans as well as nearly 5,000 square feet of fully occupied ground-floor retail. The 95-percent-occupied property is steps from the Chicago Riverwalk and boasts a Walk Score® of 98 due to its proximity to top employers, including four of Chicago’s newest Class A office towers, and vibrant River North restaurants, nightlife and retail destinations. LINEA is also situated at the nexus of numerous transportation options, including CTA trains and buses, Metra trains, Divvy bikes and water taxis earning it a Transit Score of 100.
LINEA’s apartment homes have intuitively designed layouts, including gourmet kitchens with quartz countertops, stainless steel appliances, designer cabinetry and oversized islands with bar seating; exposed concrete ceilings and accent walls; unique bay windows providing enhanced city views; wood-grain flooring throughout; in-unit washers and dryers; and walk-in closets. The LEED-certified property also incorporates unprecedented amenity space with the top two floors dedicated to live-work-play space such as a sky lounge with 20-foot glass windows showcasing the Chicago skyline, indoor/outdoor pool with hot tub, sundeck, state-of-the-art fitness center and yoga studio, expansive lounge areas and outdoor terraces, fire pits, library with fireplace, media room with TV lounge and bar area, multiple conference rooms, custom art collection and an eco-friendly terrace with dog run.
The HFF investment advisory team included managing directors Sean Fogarty and Marty O’Connell, senior director Wick Kirby and director Kevin Girard.
NEWPORT BEACH, CA – January 7, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces $96.5 million in financing for the development of 100 Columbia, a 348-unit, Class A+ high-rise multi-housing community in the Portland CBD.
The HFF team worked on behalf of the developer, Alamo Manhattan, to secure the four-year construction loan through PCCP, LLC. As previously announced, HFF also assisted Alamo Manhattan in securing joint venture equity for the project in a transaction closed in May 2018.
100 Columbia is located on a 0.92-acre site that spans the block bound by SW Clay Street, SW 1st Avenue, SW Columbia Street and SW 2nd Avenue. The site, which has a WalkScore® of 93, will support what will be the nearest high-rise residential building to the Willamette River in the CBD. The site is also one block from Tom McCall Waterfront Park to the east and Keller Auditorium to the west and is within three blocks of the CBD’s core job center that is home to more than two million square feet of high-rise office.
Due for completion in 2020, 100 Columbia will include a mix of studio, one- and two-bedroom ultra-luxury units averaging 817 square feet. The 20-story development will feature premium interior finishes and community amenities, including an expansive 15,000-square-foot, sixth-floor amenity terrace and a 20th-floor rooftop resident lounge, which will open onto an observation deck offering unobstructed views of the downtown skyline, Mount Hood and the river. The property will also include a 16th floor rooftop terrace. In addition to the multi-housing component, 100 Columbia will incorporate nearly 15,000 square feet of ground-floor retail, which will provide immediate convenience for residents and office employees in the surrounding area.
The HFF debt placement team representing the developer included senior director Mark Erland and director Matt Benson along with director Charlie Watson.
MIAMI, FL – January 4, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announced today the $5.3 million sale of a 1.3-acre assisted living development site in http://downtowndoral.com/, a 250-acre mixed-use community in Doral, Florida.
Downtown Doral comprises approximately 70 shops and restaurants; a business district with almost one million square feet of Class A office space; 5,000 luxurious residential units, including 5350 Park condo tower and Canarias in The Residences at Downtown Doral; Downtown Doral Charter Elementary School, a top-rated bilingual charter elementary school; Downtown Doral Charter Upper School, which is currently under construction; Doral Government Center, a LEED-certified city hall; and public green spaces adorned with world-class art pieces.
“Downtown Doral is a transformative community in Doral,” said Jaret Turkell, managing director at HFF. “This new ALF project will service a much-needed demand within the area and allow for multi-generational enjoyment within Downtown Doral.”
HFF represented the seller and master developer of Downtown Doral, Codina Partners, in the transaction to Goray Development Company. The HFF investment advisory team representing Codina Partners included executive managing director Manuel de Zárraga, managing director Jaret Turkell, senior director Maurice Habif and associate Simon Banke.
“The assisted living component within Downtown Doral perfectly complements the independent living facility and the Baptist Health South Florida healthcare facility that are both under construction in Downtown Doral,” said Ana-Marie Codina Barlick, CEO of Codina Partners, master developer of Downtown Doral. “I’d like to thank the HFF team for successfully facilitating this transaction that will further enhance the residential offering in our community.”
NEW YORK, NY – January 3, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces $32 million in financing for Caesura, a newly completed, 123-unit residential building with ground-floor retail in Brooklyn’s Cultural District.
The HFF team worked on behalf of the borrower, Jonathan Rose Companies, LLC, to place the 10-year, fixed-rate loan with Allegiant Real Estate Capital LP. Loan proceeds were used to replace the existing construction loan.
Caesura comprises a mix of 74 market-rate and 49 affordable units within a twelve-floor building with 2,400 square feet of ground-floor retail located at the corner of Ashland Place and Lafayette Avenue. Completed earlier this year, the property is ideally situated at the confluence of Fort Greene and Downtown Brooklyn, both of which are experiencing an increase of development. Caesura, which is already more than 80 percent occupied, is directly across from the BAM Howard Gilman Opera House, a Whole Foods Market and the Apple Store. The property is also within walking distance to 11 subway stops. Caesura features environmentally conscious design elements to promote healthy living, resource conservation and energy efficiency, which meet or exceed LEED Gold standards. In addition to in-home amenities such as walk-in closets, in-unit washers and dryers and kitchen islands, the elevator-serviced building also incorporates common area amenities, including a fitness center, community lounge, game room, double-height conservatory, roof garden and lending library.
The HFF team representing the borrower included managing director Steven Klein and senior director Geoff Goldstein.
“It was an absolute pleasure to work with the team at Jonathan Rose and Allegiant on this financing,” Goldstein said. “Jonathan Rose consistently develops transformative and totally authentic real estate projects that capture the spirit of their locations and Caesura is no exception. It was an honor to be part of their creative process.”
CHICAGO, IL – January 3, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces $61.88 million in joint venture equity for the development of 845 West Madison, a 586-unit, luxury multi-housing project in Chicago’s West Loop/Fulton Street submarket.
The HFF team worked on behalf of the developer, Lendlease and The John Buck Company, to arrange the joint venture equity partnership with Intercontinental Real Estate Corporation.
845 West Madison is slated to welcome first move-ins in the summer of 2020 and will include two 17-story towers totaling approximately 720,000 square feet of residential space and 10,000 square feet of ground-floor retail along Madison and Monroe Streets. Located on the former H20+ Cosmetics site, the project will encompass an entire city block. The site is steps from many of the city’s Michelin-rated restaurants, some of the top nightlife destinations and a growing number of retail options. 845 West Madison is also a short walk to Chicago’s central business district with more than 46.3 million square feet of office space in the West Loop submarket. The transit-served development will provide residents with multiple connectivity points to the entire Chicagoland area. The project is just off Interstate 90/94 and within four blocks of two CTA “L” stations serving the green, pink and blue lines and CTA bus stops serving routes 8, 20 and 126.
Designed by GREC Architects, the podium-style project’s façade will pay homage to Fulton Market’s industrial history by incorporating classic masonry details at the street level ascending to modern glass at the top of the towers. Units will feature top-of-the-line finishes, including stainless steel appliances, gas cooktops, quartz countertops, ceramic tile backsplashes, floor-to-ceiling windows, engineered wood floors throughout, frameless shower doors, nine-foot ceilings, in-unit washers and dryers, and balconies in select units. Both towers will share a one-acre outdoor amenity deck, featuring expansive green spaces, two pools and a lounge area with grills and fireplaces. Additional community amenities will include a fitness center, yoga room, game room, resident lounge, coffee bar, demonstration kitchen, dog park, co-working space and a 278-stall parking garage.
The HFF equity placement team representing the developer included managing director Danny Kaufman, director Christopher Knight and associate Mary Dooley.
DENVER, CO – December 21, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces $30.777 million in financing in two separate transactions for two Denver multi-housing communities; Estrella Apartments and The Avalon.
The HFF team worked on behalf of the borrower, Mountain View Capital, LLC, to secure the seven-year, floating-rate loans through Freddie Mac’s CME Program. A $13.275 million loan was arranged for Estrella Apartments and a $17.502 million loan was placed on The Avalon. Both securitized loans are refinancing existing Freddie Mac loans and will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans. The borrower refinanced with a float-to-float strategy to recapture some trapped equity created by the significant renovations conducted at each property while also allowing for continued loan flexibility and additional interest only amortization.
Estrella Apartments comprises 194 units located at 7050 Pecos Street. The Avalon is located at 629-645 Wolff Street and consists of 235 units. Both properties have been renovated within the last year, each at least receiving over $2MM in renovations. The roofs at each property have been replaced, both properties have had the exteriors repainted, grounds have been improved with extensive interior unit renovations as well.
The HFF debt placement team representing the borrower included managing director Josh Simon and director Kristian Lichtenfels.
