The Altman Companies, a nationally recognized developer of exceptional rental apartment communities, is pleased to announce that it has been retained to manage the Promenade at Carillon Luxury Apartments located in St. Petersburg, FL. This community is owned, and asset managed by the company’s long-time client, Starlight Investments, a Canadian-based, real estate asset management firm. To date, Altman has sold four apartment communities to Starlight Investments and retained management. The communities are Altís at Grand Cypress in Lutz, FL; Altís Sand Lake in Orlando, FL; Altís Shingle Creek in Kissimmee, FL; Altís Lakeline in Austin, TX. Additionally, last Fall, Altman also began the management of two additional community’s asset managed by Starlight, Tuscany Bay and Preserve at Westchase, both located in Tampa, FL.   

“We are honored and thrilled to manage this new opportunity and continue our partnership with Starlight Investments,” said Joel Altman, Chairman of The Altman Companies. “The Altman Companies look forward to bringing an exceptional living experience to the residents of Promenade at Carillon and delivering outstanding returns to Starlight.”

Promenade at Carillon unit sizes vary between 670-square-feet and 1,369-square-feet, with 1-, 2- and 3-open bedroom floor plans. Each apartment home includes stylish and updated features like an in-home washer and dryer, designer countertops in kitchen and bathroom, spacious closets, vaulted ceilings in select apartments and beautifully landscaped grounds with an attached garage. Community amenities include a fitness center with PRECOR equipment, jogging trail, resort-style pool with tanning deck, contemporary New Resident Lounge, a business center, dog park with fenced play area and outdoor grilling areas.

With easy access to Interstate 275, Promenade at Carillon is perfect for commuters across St. Petersburg, FL. These luxury apartments are in a great location, easily accessible, pet-friendly and offer competitive amenities.  Surrounding the community, there is a variety of dining options where residents can explore new dining options and find restaurants for everyone to enjoy. Near the luxury St. Petersburg apartments, you can find restaurants like Courtside Grill, Tijuana Flats, and Pepo’s Cuban Café. At Promenade at Carillon, the dining options are endless. Everything you need can be found near Promenade at Carillon!

For more information on The Promenade at Carillon, please visit www.promenadestpetersburgfl.com/.

HOUSTON, TX – November 12, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces financing totaling $800.45 million for a 23-property multifamily portfolio consisting of 7,289 units across eight states.

The HFF team worked exclusively on behalf of Starlight Investments, a Toronto, Canada-based real estate investment and asset manager, and its closed-end fund, Starlight U.S. Multi-Family (No. 5) Core Fund (TSXV: STUS.A/STUS.U).  The loan was originated as a Freddie Mac Structured Pool Transaction with five, six and seven-year loan terms and included both fixed- and floating-rate components.  Additionally, the loan allowed ultimate flexibility with collateral release provisions and varying prepayment windows.  This transaction also took advantage of Freddie Mac’s index lock program, allowing the sponsor to lock the underlying rate several months prior to closing.  Freddie Mac’s Structured Pool Transactions target large, single-sponsor portfolios and provide enhanced structuring to meet the borrower’s specific needs.  The master note, which is secured by the cross-collateralized pool of 23 properties owned by Starlight U.S Multi-Family (No. 5) Core Fund, will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer.

The 23 Class A properties are located in the Atlanta, Austin, Charlotte, Dallas, Denver, Houston, Las Vegas, Nashville, Orlando, Phoenix, Raleigh, San Antonio and Tampa markets.  The average year of construction for the portfolio is 2012, and the properties boast an average occupancy of 93 percent overall.  Nearly half of the units (47.5 percent) were financed under Freddie Mac’s Green Advantage program, which help finance energy- and water-saving improvements that help lower operating costs for buildings, keep utility costs low and protect the environment.

The HFF debt placement team representing the borrower included senior managing director Matt Kafka, managing director Campbell Roche and analysts Matthew Williamson, Tolu Akindele and Wilson Bauer.

“The Starlight U.S. Multi-Family (No. 5) Core Fund portfolio comprises 23 institutional-quality assets located in strong growth markets across the U.S.,” Kafka said.  “Given the high-performing nature of the assets and diversity of the income stream, Freddie Mac’s Structured Solutions Group was able to customize an incredibly flexible and attractive debt execution.”

“This transaction was tailored to meet the unique needs of this borrower and the complex nature of this portfolio, which is exactly the purpose of the Structured Pool Transaction offering,” said Lauren Garren, vice president of Production & Sales at Freddie Mac Multifamily.  “The Structured Solutions Group worked closely with Freddie Mac’s regional teams on this multifaceted and complex transaction, and it would not have been possible without close collaboration with our strong partners at HFF and Starlight.  We look forward to continuing to work with these partners to devise solutions to meet the needs of borrowers.”