Sunday, December 25, 2016

HFF arranges $21.2 million construction loan for 74-unit multi-housing development in Oakland, CA

Alice Street Apartments, 250 17th Street, Lakeside Neighborhood, Oakland, CA
                                                                                              (Rendering by Kotas Pantaleoni Architects)

Colby Mueck
HOUSTON, TX – December 20, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $21.2 million in financing for Alice Street Apartments, a 74-unit, Class A, transit-oriented multi-housing development in Oakland, California.

HFF worked exclusively on behalf of the borrower, a joint venture between SIMEON and Lionstone Investments, to secure the non-recourse construction loan.

Alice Street Apartments is currently being constructed on a 0.41-acre site at 250 17th Street in Oakland’s upscale Lakeside neighborhood.  

The transit-oriented site has a WalkScore© of 99 and is convenient to the 19th Street BART station, Interstates 880 and 980, Amtrak and ferry service, connecting residents to major employment centers in downtown Oakland, San Francisco, Emeryville and Silicon Valley.

 With Lake Merritt and Broadway Street within a few blocks, the live-work-play property will also provide residents with access to numerous dining, nightlife and recreational options. 

The six-story property is due for completion in 2018 and will encompass 74 studio, one- and two-bedroom units averaging 788 square feet each.  Community amenities will include a secured, ground-level parking garage; electric vehicle charging stations; bicycle parking and repair; fitness center; private decks; common roof deck recreational space; and meeting space.

The HFF debt placement team representing the borrower was led by managing director Colby Mueck and associate director Brandon Roth.

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

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