DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of 1600 Glenarm Place, an iconic, mixed-use high-rise located on the 16th Street Mall in downtown Denver, Colorado.

The HFF team marketed the asset exclusively on behalf of the seller, a joint venture between RedPeak Properties and Allstate Investments, and procured the buyer, Northland Investment Corporation. The tower was purchased along with a 0.77-acre land parcel for future development located at 14th & Glenarm.

1600 Glenarm Place was originally constructed in 1967 as an office tower known as the Security Life Building and was subsequently converted in 2006 by RedPeak Properties into one of downtown Denver’s first and most prominent residential and retail mixed-use projects.  The building comprises 333 luxury apartment units and approximately 29,000 square feet of commercial space, including premium frontage along Denver’s 16th Street pedestrian mall.  The 31-story building has a WalkScore® of 96 and is within walking distance of nearly 40 million square feet of office space and two blocks of light rail access.  The residential units average approximately 980 square feet in a range of studio, one-bedroom, two-bedroom and penthouse layouts.  Resident amenities include an outdoor terrace with barbecue grills and fireplace, state-of-the-art fitness center with Fitness on Demand and a yoga/Pilates studio, demonstration kitchen, cyber lounge, conference room, movie theatre, game room, resident library and reading room, valet parking, 24-hour concierge service and door-to-door room service from Earl’s Restaurant on the property’s ground floor.  

The HFF investment advisory team representing the seller included managing director Jordan Robbins and directors Jeff Haag and Anna Stevens.

“1600 Glenarm is a one-of-a-kind, legacy asset within the downtown Denver market and by far one of the most recognizable assets in the area,” Robbins said.  “RedPeak was extremely forward-looking in 2006 with its conversion from office space into a mixed-use residential and retail building, which has allowed 1600 Glenarm to maintain its prominent image within the market since its completion.” 

“Northland recognized the irreplaceable nature of this asset, which marks their entry into the Denver market," Robbins continued.  “This, coupled with their ability to implement an aggressive value-add strategy, will only serve to further the property’s position within downtown.”

LOS ANGELES, CA – July 23, 2018 – HFF announces $66.08 million sale of The Andalucia, a newly built, 118-unit, resort-style multi-housing community in Pasadena, California.

The HFF team marketed the property exclusively on behalf of the seller, a joint venture between Mack Real Estate Development LLC, Mill Creek Development, Pacifica Capital Investments, LLC, ARKA Properties and their capital partner. The property was purchased by a private foreign investor.

The Andalucia is located at 686 East Union Street in Pasadena’s coveted Playhouse District a short walk to the boutiques and restaurants situated along Colorado Boulevard.  Completed in 2017, the property’s design reflects the city’s timeless Spanish architecture and encompasses approximately 7,500 square feet of ground-floor retail in addition to the 118 studio, one- and two-bedroom flat and townhome-style units.  The six-story, podium-style building has 11 affordable units and community amenities, including a rooftop lounge, outdoor community lounge, fitness center, clubhouse and secured underground parking.

The HFF investment advisory team representing the seller included managing director Blake Rogers and senior managing director Sean Deasy.

DALLAS, TX – July 12, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces acquisition financing for a six-property multi-housing portfolio totaling 2,048 units in the Dallas-Fort Worth metropolitan area.

The HFF team worked on behalf of the borrower, Exponential Property Group, to secure the fixed-rate loan through Global Atlantic Financial Group.

The six properties in the portfolio are Cedar Point at 2020 Cedar Point Drive in Arlington (272 units); Emerald Hills & Normandale at 8950 N. Normandale Street in Fort Worth (398 units); Marine Creek at 4500 Marine Creek Parkway in Fort Worth (248 units); The Woodlands at 7040 John T. White Road in Fort Worth (346 units); Pecan Knoll & Broadway at 1051 E. Centerville Road in Garland (492 units); and Quail Ridge at 1919 W. Tarrant Road in Grand Prairie (292 units).  The assets are approximately 98 percent leased overall.

The HFF team representing the borrower included managing director Jeremy Sain.

“We were attracted to this acquisition for many reasons, including the opportunity to essentially double our DFW portfolio as well as the attractive returns the properties will make available for our investors,” said Kim Radaker, founder and managing principal of Exponential Property Group.  “Throughout the acquisition, we worked closely with the previous owner to help us retain the majority of the existing staff as it was important to us to utilize their individual expertise to help make this new venture a success going forward.”

“HFF did a remarkable job in quickly identifying Global Atlantic as an ideal partner,” Radaker continued. “The creative structure Global Atlantic brought to the table allowed us to close this large portfolio in a timely manner, and we greatly appreciate both the HFF and Global Atlantic teams’ flawless performances throughout the entire process.”

WASHINGTON, D.C. – July 12, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $51.5 million sale of The Residences at City Center, a 291-unit apartment community with ground-floor retail in Manassas Park, Virginia.

The HFF team marketed the property on behalf of the seller, and procured the buyer, Mexico City-based HASTA Capital.

The Residences at City Center is located at 170 Market Street directly across from the Manassas Park Virginia Railway Express (VRE) station along Manassas Drive in Prince William County. The transit-oriented property is ideally positioned near the largest employment centers and major thoroughfares in the Northern Virginia region as well as an abundance of retail and entertainment options.  The Residences at City Center comprises 255,608 square feet of residential space featuring high-quality, modern finishes and 43,708 square feet of ground-floor retail.  Community amenities include an outdoor pool with lounge area and grill station, state-of-the-art fitness center, clubhouse, business center, Wi-Fi café and a mix of surface parking and single-car garages.

The HFF investment advisory team representing the seller included Walter Coker, Brian Crivella and Dek Potts.

SAN DIEGO, CA – July 10, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces acquisition financing for Arena District, a 65-unit/244-bed, off-campus student housing community serving the University of Oregon in Eugene, Oregon.

The HFF team worked on behalf of Cardinal Group to secure the floating-rate loan through Freddie Mac’s CME Program.  The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.  Loan proceeds were used to acquire the property.

Arena District is located at 2050 E. 15th Avenue less than a quarter mile east of the University of Oregon campus, which serves approximately 23,600 students.  Completed in 2014, the property is a five-minute walk from both the Matthew Knight Arena and historic Hayward Field and is approximately 1.5 miles east of downtown Eugene.  Arena District comprises mostly four-bedroom units featuring modern finishes and green design components and community amenities, including a fitness center, hot tub, private study room, 24-hour study area and internet café, 24-hour multimedia lounge, clubroom with gaming and pool table and outdoor courtyard with grilling station.  The LEED-certified property was 97 percent leased for the 2017-2018 school year.

The HFF debt placement team representing the borrower included senior director Pat Burger.

“HFF is pleased to have assisted Cardinal Group with its latest acquisition as they continue to grow their national portfolio,” Burger said.  “They are a best-in-class operator with three properties already under management in the market. With this acquisition, they now also own a best-in-class asset serving UO.”

WASHINGTON, D.C. – July 9, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $87.75 million sale of Rolling Hills, a 468-unit apartment community in Germantown, Maryland.

The HFF team marketed the property exclusively on behalf of the seller, Clark Enterprises, Inc., and procured the buyer, Pantzer Properties, Inc.  In addition, the HFF team acted as agent for Pantzer by securing debt financing through Freddie Mac.  The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.

Rolling Hills is located at 19228 Circle Gate Drive approximately one mile from Interstate 270 and adjacent to Great Seneca Highway, which offers connectivity to Rockville, Bethesda and Washington, D.C. to the south and Urbana and Frederick to the north.  The commuter-friendly property is also adjacent to a MARC train station (Brunswick Line) and just north of the Shady Grove Metro Station, which together offer access to the broader Washington, D.C. metropolitan area.  Rolling Hills consists of 39 three-story buildings comprising a mix of two- and three-bedroom units averaging 1,205 square feet.  The 40-acre, park-like community features a resort-style pool, fitness center and renovated club room as well as numerous tot lots, dog parks, soccer fields and picnic/grilling areas.

The HFF investment advisory team representing the seller included Walter Coker, Brian Crivella and Stephen Conley, a Maryland licensed real estate broker.

HFF’s debt placement team representing the new owner consisted of Jamie Leachman and Nicole Brickhouse.