CHICAGO, IL – June 4, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the sale of and arranged financing totaling $51.135 million for a three-property, 335-unit apartment portfolio in downtown Kansas City, Missouri.

HFF marketed the property on behalf of the seller, Steadfast Income REIT, Inc., and procured the buyer, ARTISAN Capital Group.  Additionally, HFF worked on the new owner’s behalf to secure a $38.85 million, seven-year, fixed-rate Fannie Mae loan through HFF’s risk-transfer joint venture with M&T Realty Capital Corporation, as well as $12.285 million in joint venture equity from Westminster Capital LLC.  In addition to funding the acquisition, proceeds from the financing will be used to implement the new owner’s value-add strategy by improving operations and management.

The properties in the portfolio are Library Lofts, a 118-unit building located at 1004 Baltimore Avenue; Stuart Hall, a 115-unit building located at 2121 Central Street; and EBT Lofts, a 102-unit building located at 1601 Walnut Street.  The historic buildings, which were originally built between 1899 and 1910, are situated within two of Kansas City’s most in-demand downtown locations, the Library District (Library Lofts) and the Crossroads Arts District (Stuart Hall and EBT Lofts), providing residents with convenient access to major area transportation arteries and some of the city’s trendiest of retail, dining and entertainment amenities.  The adaptive re-use properties comprise a mix of loft-style units ranging from studio to three-bedroom floor plans totaling 333,180 rentable square feet.  In addition, the buildings include 21,130 square feet of ground-floor commercial space.  The portfolio is 94 percent occupied overall.

The HFF investment advisory team representing the seller was led by senior director David Gaines, managing director Marty O’Connell and senior managing director Danny Kaufman.

HFF’s debt placement team representing the new owner was led by managing director Matthew Schoenfeldt and director Gregory Napper.

CHICAGO, IL – February 12, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has arranged joint venture and preferred equity totaling $28.9 million to capitalize the development of Radius Apartments, a 13-story, 389-unit, Class A apartment project in Orlando, Florida.

The HFF team worked on behalf of an affiliate of Banner Real Estate Group to arrange $14.89 million in joint venture equity from Westminster Capital LLC and $14 million in preferred equity through a blue chip life company.

Radius Apartments will be situated at the corner of N. Rosalind Avenue and E. Livingston Street with sweeping views of Lake Eola to the southeast.  The centrally located development will also be adjacent to the Orlando CBD and within walking distance to the new LYNX SunRail Central station, nightlife amenities along Orange Avenue and the under-construction UCF Medical Downtown Campus.  Due for completion in 2020, the building will feature 12 stories of residential space situated above street-facing retail on the first floor, an adjacent six-story parking garage and a public courtyard.  The roof of the parking garage will be utilized as an amenity deck that will include a pool, cabanas, outdoor kitchen, dining and grilling area, bar and sun shelf.  A secondary amenity deck will provide quieter green space for outdoor yoga, bocce ball and lounge seating.  Additional amenities will include a dog run, bike parking and tenant storage.

The HFF equity placement team was led by managing director Matthew Schoenfeldt along with senior managing director Michael Weinberg, senior director Brett Moss, senior managing director Matt Mitchell and analyst Tyler Swidler.

HFF has arranged financing for other notable multi-housing developments in Downtown Orlando during the past 18 months, including $60 million for Lake House in Ivanhoe Village and more than $100 million for the mixed-use, student housing community at UCF’s urban campus at Creative Village.