PHILADELPHIA, PA – July 1, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the sale of and secured financing for Riverwalk at Millennium, a 375-unit, transit-oriented multi-housing community in the Philadelphia-area suburb of Conshohocken, Pennsylvania.

HFF marketed the property exclusively on behalf of the seller, a joint venture between Long Wharf Capital and Scully Company.  Relative Properties purchased the asset.  In addition, HFF worked on behalf of the new owner to place the fixed-rate acquisition loan through Freddie Mac.  The loan will be serviced by HFF, a Freddie Mac Multifamily Approved Lender for Conventional Loans.  In 2015, HFF brokered the sale of the property to Long Wharf and Scully Company and arranged both the joint venture partnership between the two and acquisition financing.

Riverwalk at Millennium is situated on 7.89 acres at 309 Washington Street in Conshohocken, a suburb northwest of Philadelphia that borders the Schuylkill River.  The SEPTA Regional Rail line is a short walk away, and Center City Philadelphia is approximately 20 minutes from the transit-oriented property.  The Schuylkill River Trail, which is used for running and biking along the river between Valley Forge and Center City, is directly behind the property.  The four-story buildings sit above single-story parking garages and house a diverse blend of one- and two-bedroom units with contemporary floor plans averaging 923 square feet.  Units also feature ceilings that are at least nine feet high, plank flooring, full-sized washer/dryers and six-foot windows.  Community amenities include controlled access, a modern clubhouse with fireplace, a resort-style pool with sundeck and grill area and a contemporary fitness center with an on-demand fitness studio.

The HFF investment advisory team representing the seller was led by senior managing director Mark Thomson, senior director Carl Fiebig and director Francis Coyne along with senior managing director Jose Cruz.

HFF’s debt placement team representing the new owner was led by managing director Ryan Ade and senior director Jamie Leachman.

CHARLOTTE, NC – June 28, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the $46.5 million sale of Bainbridge Lake Crabtree, a 200-unit, mid-rise apartment community in Morrisville, North Carolina.

HFF marketed the property on behalf of the seller, The Bainbridge Companies, LLC and its partner, Amzak Capital Management, and procured the buyer, RK Properties.

Bainbridge Lake Crabtree is located at 2599 Evans Road in the high-growth market of Morrisville and provides connectivity via nearby Interstate 40 to Research Triangle Park and downtown Raleigh.  Completed in 2018, the 9.55-acre property comprises units averaging 1,015 square feet with high-end amenities, including chef-inspired kitchens with islands, stainless steel appliance, quartz countertops and white Shaker-style cabinets; combination walk-in showers and garden tubs; oversized, triple-paned windows with marble window sills; Google fiber; and Nest thermostats. Luxury common-area amenities include a South Beach-style pool with sun deck and tree-lined sun shelf; interior courtyard with fire pits, Edison lighting, gazebo and grilling station; pet spa and pet bark park with canine drinking fountain; exposed brick and glass-defined clubroom; and state-of-the-art fitness center with yoga studio.

The HFF team was led by managing directors Justin Good and Jeff Glenn, senior director Allan Lynch and director Caylor Mark.

“With its third purchase in the Carolinas, RK Properties has invested in an asset boasting the Bainbridge Companies pedigree in one of the fastest-growing, tech-centric metros in the country,” Good said.
 
“Bainbridge Lake Crabtree represents superior product in a location defined by connectivity and growth, which is evident in its performance and market reception,” Glenn added. 

Holliday GP Corp. (“HFF”) is a North Carolina licensed real estate broker.

HOUSTON, TX – June 27, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has secured acquisition financing for Waterside at Mason, a 246-unit, Class A apartment community in the West Houston suburb of Richmond, Texas.

HFF worked exclusively on behalf of the borrower, Hilltop Residential, to arrange the five-year, fixed-rate loan with interest-only payments through a life company correspondent lender.

Waterside at Mason is located at 1901 Waterside Village Drive in Richmond and is zoned to the Fort Bend Independent School District.  Completed in 2017, the 6.6-acre property offers access to Texas State Highway 99 (Grand Parkway) and the Westpark Tollway, as well as major employment and retail drivers in Sugar Land, Katy, the Energy Corridor, Westchase and the Galleria/Uptown District.  Units include a mix of one- and two-bedroom units averaging 867 square feet. Community amenities include a resort-style pool, fitness center, resident clubhouse with conference room, recreation room with billiards, in-unit washers and dryers, walk-in closets and patios or balconies.

The HFF debt placement team representing Hilltop Residential was led by managing director Cortney Cole and analyst Jett Lucia.

SAN FRANCISCO, CA – June 26, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has secured $31.3 million in construction financing for the development of Pivot, a mixed-use residential, office and retail property in Seattle’s Capitol Hill neighborhood.

HFF worked on behalf of the developer, Vibrant Cities, to place the five-year, floating-rate construction loan with H.I.G. Realty Partners. 

The sponsor acquired the development site in August 2016 with a vision to capitalize on the rapidly growing Seattle market and proximity to globally recognized employment hubs.  The project will replace an existing parking lot with a pedestrian-inspired development along the highly coveted Pike/Pine corridor and will feature a mix of 71 apartment units above a sub-grade parking garage. The project will also feature small-scale, street-level retail, contributing to the neighborhood’s pedestrian-friendly character in addition to an 11,000 square foot office concept, which will add daytime use, much desired by the community.

The HFF debt placement team, representing the developer, was led by senior director Brandon Roth and director Zack Goodwin.

“Building on the momentum they created with the record sale of The Cove in Capitol Hill, Vibrant Cities has developed another thoughtfully designed property that will be well-received by the community,” Roth said.

DENVER, CO – June 24, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has arranged $45.65 million in financing for Talavera Apartments, a 240-unit, mid-rise multi-housing community located in Denver, Colorado. 

HFF worked on behalf of the borrower, Denver-based Griffis Residential, to secure the 10-year, Fannie Mae Green Rewards loan through HFF’s risk-transfer joint venture with M&T Realty Capital Corporation. The loan, which was used to fund the acquisition of the property, carries a 3.53% fixed interest rate with full-term interest-only payments.

Talavera Apartments is located at 350 South Jackson Street near Cherry Creek’s numerous high-end retail, dining and entertainment amenities.  Built in 2008, the property features a mix of studio, one-bedroom and two-bedroom units averaging 838 square feet. Community amenities include a swimming pool and spa, covered parking, in-unit washers and dryers, stainless steel appliances and Amazon lockers. The property was more than 97% leased at closing.

“HFF has again proven to be a strong partner, working with Griffis Residential to secure financing for a high-quality asset in our latest real estate investment fund,” said Jim DiRienzo, senior vice president of acquisitions at Griffis Residential. “The apartment homes at Talavera, which has been renamed Griffis Cherry Creek, are primed for interior improvements and additional elements of our investment strategy, including enhanced resident experience, ancillary income initiatives, and management and service upgrades.”

The HFF team representing the borrower was led by senior managing director Eric Tupler and managing director Josh Simon.

SAN DIEGO, CA – June 19, 2019 – HFF announces it has arranged financing for the development of Carroll Canyon, a luxury residential and retail mixed-use development in San Diego’s affluent Scripps Ranch community.

HFF worked on behalf of Sudberry Properties to arrange a construction loan through a commercial bank.  Additionally, HFF secured mezzanine financing from a correspondent life company lender.

Carroll Canyon will consist of 260 apartment units and approximately 10,700 square feet of retail space that will be leased to a mix of national and regional retailers.  The property sits at the northeast corner of the intersection of Interstate 15 and Carroll Canyon Road in the heart of Scripps Ranch, a centralized suburban location less than 30 minutes from beaches, North County San Diego and the San Diego International Airport.  The residential component will feature high-end units averaging 908 square feet and common area amenities, including a community lounge, fitness center, spa, in-unit laundry rooms along with a mix of garage, carport and open stalls for parking. The project is due for completion in second quarter 2021.

The HFF debt placement team representing the borrower was led by senior managing director Aldon Cole and director Olga Walsh.