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.

WASHINGTON, D.C. – May 7, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has secured joint venture equity and construction financing totaling $191.8 million for the development of Phase I of Bryant Street, a mixed-use, transit-oriented development in northeast Washington, D.C.

HFF worked on behalf of the developer, MRP Realty, to arrange a $59.8 million joint venture equity partnership with FRP Development Corp.  Working on behalf of the new partners, HFF also secured $132 million in construction financing through a national bank.

Bryant Street is being developed near the intersection of Rhode Island Avenue and Fourth Street adjacent to the Rhode Island Metro Station (Red Line) and the Metropolitan Branch Trail, a multiuse pedestrian/cycling path that is used by more than 1,200 commuting cyclists daily.  The project is situated within the high-barrier-to-entry neighborhood of Edgewood between the established and rapidly growing neighborhoods of Eckington and Brookland.  In addition to the neighborhood restaurants, breweries and other local nightlife, Bryant Street is easily accessible to Ivy City, Union Market, a newly opened Trader Joe’s and hotspots such Red Hen and Big Bear Café.  Phase I of the development will feature three mid-rise buildings comprising 487 multi-housing units, a nine-screen Alamo Drafthouse Cinema and an additional 38,482 square feet of ground-floor retail.  At full build out, the 13-acre, LEED-certified project will feature 1,500 residential units, 250,000 square feet of retail, 1.5 acres of green space and up to 2,000 below-grade parking spaces for residents and visitors.  Construction commenced in February and Phase I is due for completion in spring 2021.

The HFF debt and equity placement team was led by Stephen Conley, Walter Coker, Brian Crivella, John Owendoff, Daniel McIntyre and Cary Abod.

“Edgewood and the surrounding communities near Bryant Street have a rich history and we hope we can build on the great offerings that already exist,” MRP Principal John Begert said.  “We are very excited to have the financing in place to bring this multi-modal neighborhood to life.”

WASHINGTON, D.C. – May 6, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the sale of Hanover Shady Grove, a 366-unit, transit-oriented, mid-rise apartment community in Rockville, Maryland.

HFF marketed the property exclusively on behalf of the seller, Hanover Company and Berkshire Residential Investments, and procured the buyer, Equity Residential.

Hanover Shady Grove is located at 9305 Corporate Boulevard within the I-270 Bio Corridor, one of the country’s most prominent hubs for medical research, testing and development.  Adjacent to Interstate 270 and within a mile of Interstate 370/Maryland Route 200, the community provides connectivity to downtown Rockville, Bethesda and Washington, D.C. to the south and Gaithersburg and Germantown to the north.  Additionally, Hanover Shady Grove offers access to the Washington, D.C. Metro’s Red Line via the nearby Shady Grove Metro Station to the east and to commuter rail service via the nearby MARC Brunswick Line to the southeast.

Completed in 2016, the five-story property consists of a mix of studio through three-bedroom units averaging 970 square feet.  Units feature gourmet kitchens equipped with stainless steel appliances, granite countertops and stone backsplashes as well as wood flooring, spa-like baths, high ceilings and in-unit washers and dryers.  Community amenities include a resort-style pool, outdoor dining/grilling areas, 24-hour Technogym fitness club, private media room, executive conference and dining room, catering kitchen, on-property Civic Green Park, designated walking paths and a controlled-access parking garage.  The property was 95 percent occupied at closing.

The HFF investment advisory team was led by Walter Coker and Brian Crivella along with Stephen Conley, a licensed Maryland real estate broker.

DALLAS, TX – April 30, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has secured financing for an eight-property, 565-unit seniors housing portfolio located in New England.

HFF worked on behalf of the borrower, Northbridge Strategic Senior Housing Fund II, L.P., to originate the mortgage loans to be sold to Freddie Mac.  HFF, a Freddie Mac Optigo℠ lender for Seniors Housing Loans, will service the loans.

The properties in the portfolio are Avita of Brunswick in Brunswick, Maine; Avita of Stroudwater in Westbrook, Maine; Avita of Wells in Wells, Maine; Carriage House at Lee’s Farm in Wayland, Massachusetts; Laurelwood at the Pinehills in Plymouth, Massachusetts; Ledgewood Bay at Milford in Milford, New Hampshire; Stroudwater Lodge in Westbrook, Maine; and Sunnybrook in Brunswick, Maine.  The properties have an average completion date of 2014 and comprise a mixture of 49 independent living, 256 assisted living and 260 memory care units that were nearly 90 percent occupied at closing.