Holliday Fenoglio Fowler, L.P. (HFF) announces financing totaling $53.175 million for the development of The Bradley, a mixed-use residential and retail property in Miami’s Wynwood neighborhood.

Working on behalf of the developers, a partnership between The Related Group and Block Capital Group, the HFF team secured a $33.175 million construction loan from Santander Bank and $20 million in preferred equity from Greenstreet Real Estate Partners, L.P.

The Bradley is situated in the southeast end of Wynwood and is walkable to the neighborhood’s main retail strip on NW 2nd Avenue.  The mid-rise development is designed by Kravitz Design and will comprise 175 residential units along with approximately 32,000 square feet of ground-floor retail space.  Residential units will range from 480 to 1,000 square feet in a mix of one-, two- and three-bedroom floor plans.  The project is located at 51 NW 26th Street proximate to Wynwood 25, which is also being co-developed by The Related Group.  HFF sourced construction funding for that project in May of last year.

The HFF debt placement team included senior director Scott Wadler and associate Jesse Wright.

“The Bradley, along with Related’s other Wynwood properties, are a preview of what’s coming to the neighborhood,” said Jon Paul Perez, vice president for The Related Group.  “For a long time, Wynwood was seen simply as a weekend destination, but now the influx of high-quality residential and mixed-use options is driving the community’s transition into a true 24/7 neighborhood.  We look forward to continuing work with our partners to help the neighborhood reach its full potential.”

“The Bradley’s central location between Wynwood and Midtown will further connect and densify the neighborhoods,” Wadler said.  “We are excited to see how Wynwood evolves as the first institutional-quality apartments are delivered in the area.”

HFF announces $17.3 million in financing for Spring Meadow, a 271-unit, apartment community in the Phoenix suburb of Glendale, Arizona.

The HFF team worked on behalf of Western Wealth Capital, which acquired the property on behalf of the borrower, an MDC Realty Advisors USA, Inc.-managed fund, to secure the five-year, floating-rate loan through a national bank.  The partnership acquired the property on an all-cash basis in October 2017, and this loan was arranged post-close to assist with their capital expenditure program.  This transaction follows four other recently announced loans HFF arranged on the partnership’s behalf for Greentree Place and Autumn Creek Apartments in Chandler, Arizona, as well as Brynwood and Sereno Park Apartments in San Antonio, Texas.

Spring Meadow is located at 10030 North 43rd Avenue minutes from downtown Glendale, Glendale Community College and Westgate City Center.  The property is also close to Interstate 17 and State Highway 101, which offers accessibility around the greater Phoenix metropolitan area.  Spring Meadow comprises one- and two-bedroom units ranging from 525 to 918 square feet.  Some of the units have undergone recent upgrades to include new appliances, flooring, paint, fixtures and in-unit washers and dryers.  Amenities include a swimming pool, hot tub, barbecue/picnic area, fitness center and covered parking.  

The HFF team representing the borrower included managing director Josh Simon and senior director Brad Miner.

Holliday GP Corp. ("HFF") is a commercial mortgage broker licensed with the Arizona Department of Financial Institutions, License Number CMB 0935500 and NMLS Number 1524298.

Holliday Fenoglio Fowler, L.P. (HFF) announces financing for the development of The Edge LoHi, a 44-unit, upscale condominium development in Denver’s Lower Highland (LoHi) submarket.

The HFF team worked exclusively on behalf of the developer, Alpine Investments, to arrange the 36-month, floating-rate, non-recourse construction loan through a balance sheet lender.

The Edge LoHi will be situated immediately north of Interstate 25 in the affluent LoHi neighborhood.  Due for completion in 2019, the property’s for-sale homes will feature high-end finishes, unobstructed views of the Denver skyline and an outdoor space for every condo.  Community amenities include a dog spa, storage units, bike storage and repair room, lobby lounge with a fireplace and coffee bar and secured building and garage access.  Approximately 30 percent of the units were pre-sold at the time of closing.

The HFF team representing the borrower included directors Leon McBroom and Brock Yaffe.

Holliday Fenoglio Fowler, L.P. (HFF) announces $31 million in financing for two San Antonio, Texas, apartment communities totaling 636 units – Brynwood Apartments and Sereno Park Apartments.

The HFF team worked on behalf of a joint venture between Western Wealth Capital and an MDC Realty Advisors USA, Inc.-managed fund to secure two separate five-year, floating-rate loans through a national bank.  The partnership acquired the properties on an all-cash basis in late 2017, and the loans were arranged post-close to assist with their capital expenditure program.  This transaction follows the recently announced acquisition loans HFF arranged on the partnership’s behalf for two Phoenix-area multi-housing properties, Greentree Place and Autumn Creek Apartments.

Brynwood Apartments was built in 2007 and consists of 276 one-, two- and three-bedroom units featuring stainless steel appliances, faux quartz countertops, shaker-style cabinets and wood-style flooring.  Common area amenities include a resort-style pool with sundeck, grilling area, 24-hour athletic center, clubhouse with coffee café, business center and bark park.  Brynwood Apartments is located at 8711 Bowens Crossing one block inside of Loop 1604, which positions it near the University of Texas at San Antonio campus, Six Flags Fiesta Texas, SeaWorld San Antonio and The Shops at La Cantera in San Antonio’s northwest side.  

Sereno Park Apartments is situated on nine acres at 3903 SE Military Drive just east of Interstate 37 approximately eight miles southeast of downtown San Antonio.  The property’s three-story, Spanish-style buildings house a mix of 360 renovated one-, two- and three-bedroom units featuring breakfast bars, pantries, nine-foot ceilings, faux-wood flooring, full-size washers and dryers and walk-in closets.  Community amenities include a swimming pool, grilling stations, bark park, 24-hour athletic club and covered parking.  

The HFF team representing the borrower included managing director Josh Simon and senior directors Brad Miner and Chris McColpin.

Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the recapitalization and arranged financing for River North Park, a 400-unit, 24-story apartment tower in Chicago’s River North neighborhood.

HFF represented Waterton in the recapitalization of the property. Angelo, Gordon & Co., L.P. purchased a majority interest in the asset for an undisclosed amount. HFF also arranged a short-term, floating-rate acquisition loan on behalf of the new owner with a national bank.

River North Park is located at 320 West Illinois Street, steps from the Chicago Transit Authority’s (CTA) Merchandise Mart Brown/Purple station. With a WalkScore® of 98, the property is near the Hubbard Street and Rush and Division entertainment corridors as well as some of Chicago’s top retail attractions along and surrounding North Michigan Avenue. River North Park is also convenient to Lake Shore Drive and Interstates 90/94, 290 and 55 offering access around the metropolitan area. The community features a 24-hour door attendant, enclosed garage parking, fitness center, indoor heated lap pool, internet café and a private, half-acre landscaped courtyard with sundeck and gas grills.

The HFF investment sales team representing the seller was led by executive managing director Matthew Lawton along with managing director Sean Fogarty.

HFF’s debt placement team representing the buyer was led by managing director Stephen Skok.

Saban Real Estate (Saban), in partnership with Campus Advantage (CA), has completed the acquisition of nineteen student housing communities from American Campus Communities (ACC) in a transaction valued at $508 million. The 12,083-bed portfolio includes properties serving students at Penn State University, Michigan State University, Louisiana State University, University of Missouri, University of Indiana, University of South Carolina, University of Alabama, Florida State University, University of Alabama-Birmingham, East Carolina University and Western Michigan University.

With this acquisition, Saban and CA collectively own and/or operate a portfolio of over 35,000 beds across 40 universities, making them the 4th largest owner/operator of off-campus, purpose-built student housing communities in the US.

“We’re excited to partner with Campus Advantage, one of the industry pioneers in student housing and to once again work with American Campus Communities in the acquisition of a significant portfolio of well-located, institutional quality student housing properties,” said Philip Han, Chief Investment Officer at Saban Real Estate. “We are confident that together with Campus Advantage, we will be able to continue the legacy of quality ownership that American Campus Communities is known for and look forward to delivering an unsurpassed housing experience for all of our student residents.”

CA will take over management from ACC in three phases during the next five months as well as implement a capital investment plan of approximately $30 million to reposition and rebrand the properties. Today, CA assumed management on the first phase of assets which include eight tier one university student housing properties for the University of Missouri, Louisiana State University, and the University of Alabama.

“We are excited about the opportunity to once again work with American Campus Communities with whom we’ve done three previous acquisitions and to partner with Saban Real Estate in building a platform for future acquisitions,” said Mike Peter, President and CEO for Campus Advantage. “As one would expect from a first class operator such as American Campus Communities, these were well run, well maintained assets. The properties will benefit from a fresh set of eyes, new programs, upgraded amenities, and approximately $30 million in capital improvements that will provide enhanced, supportive communities for students. I am also proud to say that, with this transaction, CA has become one of less than a handful of privately-held companies in its industry to acquire over $1.2 billion in portfolio assets.”

“We are proud to partner with one of the top student housing operators in the country, on acquiring this significant portfolio,” said Bowen Hsu, Managing Director for Saban Real Estate. “We look forward to a long and prosperous relationship with Campus Advantage as we grow our investment platform together.”

Saban and CA were represented by Holliday Fenoglio Fowler in securing financing from Fannie Mae. HFF’s debt placement team was led by directors Robert Wooten and Casey Wenzel.