Saturday, April 22, 2017

HFF secures $23 million financing for 48-unit condominium development in Walnut Creek, CA

Riviera Condominiums, Walnut Creek, CA

Jordan Angel
SAN FRANCISCO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $23 million in financing for the development of the Riviera Condominiums, a 48-unit, Class A development adjacent to the Bay Area Rapid Transit (BART) station in Walnut Creek, California.

HFF worked on behalf of the borrower, a joint venture led by The ADDRESS Company, to secure the floating-rate construction loan through a regional bank.

Riviera Condominiums is being constructed on a 0.52-acre site at 1605 Riviera Avenue immediately north of the BART system’s Walnut Creek station.  The transit-oriented community is also walking distance to downtown Walnut Creek’s retail and entertainment amenities, and is just east of Interstate 680. 

With construction underway, the property will have 48 flat- and loft-style for-sale units upon completion.  Community amenities will include a rooftop common area, urban courtyard, outdoor grilling area, clubroom and a gated two-level parking garage with 82 spaces.

HFF’s debt placement team was led by directors Jordan Angel and Bryan Clark and analyst Zachary Kersten.

“When complete, the Riviera Condominiums will represent the best units available in the Walnut Creek market with immediate access to transit and all that the area has to offer,” Angel said

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

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

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