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.

PHILADELPHIA, PA – July 9, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces $19.454 million in acquisition financing for a 71-building/383-bed, scattered-site student housing portfolio at Lehigh University in Bethlehem, Pennsylvania.

The HFF team worked exclusively on behalf of the borrower, a private investment vehicle managed by Hong Kong-based Beacon Assets, to arrange the five-year, fixed-rate acquisition loan through Natixis.  HFF’s investment advisory team arranged the sale of the portfolio to the borrower, details of which were recently released in a separate announcement.

The 71 properties within the portfolio have prime ‘walk to campus’ locations and convenient access to nightlife and retail.  The portfolio achieved close to 99 percent occupancy during the last two academic years amidst strong year-over-year rent growth.  Lehigh University has an enrollment of more than 7,000 with growth of 25 percent expected during the next seven years.

The HFF debt placement team representing the borrower included managing director James Conley.

HFF announces acquisition financing for Landmark of Conroe, a 200-unit, Class A, garden-style apartment complex in Conroe, Texas.

The HFF team worked on behalf of the borrower, Hilltop Residential, to secure a seven-year acquisition loan with a fixed interest rate of 4.57 percent.  The loan has five years of interest-only payments as well as a flexible prepayment structure.

Landmark of Conroe is situated on approximately 15 acres at 1840 Longmire Road in Conroe, which is approximately 13 miles north of The Woodlands and 44 miles north of downtown Houston.  The community is just northwest of the intersection of Interstate 45 and Loop 336 near local retail and employment drivers as well as schools in the highly desirable Conroe ISD and recreational activities at Lake Conroe.  Landmark of Conroe consists of 23 two- and three-story residential buildings comprising one-, two- and three-bedroom units averaging 1,159 square feet.  Community amenities include a swimming pool, lighted basketball and tennis court, picnic/grilling area, car wash, state-of-the-art fitness center and clubhouse.  Hilltop plans to spend additional capital to upgrade the property’s amenities as well as renovate units as they turn.

HFF’s debt placement team representing the borrower included managing director Cortney Cole and analyst Jett Lucia.

Holliday Fenoglio Fowler, L.P. (HFF) announces the capitalization of Axletree, a to-be-built, 110-unit, Class A multi-housing project in the Portland suburb of Milwaukie, Oregon.

The HFF team worked on behalf of the developer, Guardian Real Estate Services, to place a floating-rate construction loan through a regional bank.  Additionally, the HFF team arranged joint venture equity through Hanover Financial.

Axletree will be situated at the intersection of SE Main and SE Washington Streets in downtown Milwaukie, less than 200 feet from the new MAX Orange Line stop.  The project, which will be the first multi-housing community to be built in Milwaukie since 1995, is also positioned within walking distance to numerous retail and riverfront recreational amenities. Due for completion in the third quarter of 2019, the property will feature a mix of studios, one- and two-bedroom floor plans averaging 610 square feet.  In addition, Axletree will encompass 77 parking stalls and nearly 7,000 square feet of ground-floor retail, and will offer impressive views of the Willamette River and Portland’s West Hills.

The HFF team representing the developer in the construction financing included managing director Casey Davidson. Senior managing director Ira Virden and director Carrie Kahn led the equity capitalization efforts.