Sunday, April 30, 2017

Leading Apartment Ancillary Service Provider Rebrands Telecom Company and Appoints Telecom Veteran as Regional Vice President

Gregg Roffers

 IRVINE, CA – Multifamily Ancillary Group (MAG), the industry leader in revenue-generating ancillary services for multifamily owner and managers, has announced a new telecommunications and cable division, Next Wave Solutions. 

In conjunction with this launch, MAG has appointed telecom veteran Gregg Roffers as Regional Vice President of MAG, according to Vice President, Annie McClinton.

 “Our position as the premier telecom and cable consultants for multifamily is built on our relationships with telecoms firms and our ability to negotiate competitive pricing by leveraging our current portfolio of 250,000 multifamily units,” explains McClinton.

Annie McClinton
“By establishing Next Wave Solutions as its own brand, MAG is strengthening its telecom and cable identity and industry presence even further.  

"The addition of Gregg Roffers as a leader at MAG, who himself has more than 30 years on the telecom and cable company side of the table, will also positively impact our ability to grow,” McClinton adds.

In his new role, Roffers will oversee MAG’s Business Development and Marketing Department teams, as well as manage existing relationships with major apartment owners and managers. His experience in the telecom industry includes management positions with Time Warner Cable and other major operators.

“The rapid changes in the industry will increase the demand for owners and managers to supply new services at great prices,” notes McClinton. “Gregg’s capabilities and skills within the telecommunications field will help us continue to provide the best possible services and rates to our current and future clients.” 

Roffers has now joined MAG.  Next Wave Solutions will have a new brand roll-out later this year. 

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

Elisabeth Manville / Katie Kea
Brower, Miller & Cole
(949) 955-7940


29th Street Capital Acquires Woodlake Villas Apartments; Community is Firm’s 2nd Las Vegas-Area Property

Woodlake Villas Apartments, Las Vegas, NV
Dusty Eddy
 Las Vegas, NV – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Woodlake Villas Apartments, a 218-unit multifamily community in Las Vegas, Nevada. The transaction closed April 26. The sale price was not disclosed.

29SC plans to implement a $1.9 million capital improvement program to renovate unit interiors, enhance the property’s exterior and curb appeal and improve the amenity package. 29SC will also implement energy-efficient upgrades through the Freddie Mac Green financing program.

The Las Vegas market has experienced significant economic improvements in recent years. In 2016 alone, the Las Vegas market ranked third in rent growth (Axiometrics), added 24,800 jobs and had a positive net migration of 40,000. Additionally, the Las Vegas MSA reported millennial population growth of 3.0% in 2016, which ranked the highest in the U.S.

“We are very pleased with the addition of Woodlake Villas to the 29SC portfolio and our expansion into the ever-improving Las Vegas market,” said Dusty Eddy, 29SC’s Vice President of Acquisitions for Phoenix, Las Vegas and San Diego. “We’re excited to start our renovation program that will ultimately lead to a more desirable community.”

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

Terri Thornton
Partner, Thornton Communications
Phone: 404-932-4347


HFF closes sale of and arranges financing for Birmingham, AL seniors housing community

Danberry at Inverness Seniors Housing, Hoover, AL

Sarah Anderson
DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged acquisition financing for Danberry at Inverness, a 232-unit seniors housing community in the Birmingham, Alabama, suburb of Hoover.

HFF marketed the property on behalf of a joint venture between a private equity seller and LCS, and procured the buyer, a joint venture partnership between LCS and an affiliate of Artemis Real Estate Partners.

 Life Care Services, an LCS Company, will also continue to manage and operate the property.  

In addition to brokering the sale, HFF worked on the new owner’s behalf to secure a seven-year, floating-rate acquisition loan through Freddie Mac’s CME Program. 

The securitized loans will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.

Danberry at Inverness comprises 160 independent living units, 48 assisted living units and 24 memory care units.  

The Class A+ property has high-end finishes and amenities, including an expansive grand lobby, 24-hour concierge service, elegant dining room, state-of-the-art fitness center, solarium, library with fireplace, lounge/clubroom, business center, heated swimming pool and hot tub, barber shop and full-service salon. 

Ryan Maconachy

The property’s location at 235 Inverness Center Drive places it near Birmingham’s “280-Corridor”, which is among the fastest-growing business corridors in the Southeast.  The affluent Hoover area has experienced a 48.1 percent growth in population in the past decade with an average household income of approximately $111,374.

The HFF investment sales team was led by senior managing directors Ryan Maconachy, Chad Lavender and Bill Miller.

HFF’s debt placement team was led by associate director Sarah Anderson.

  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 |


HFF secures $142 million financing for mixed-use lifestyle development in suburban Cleveland, OH

Trey Morsbach
DALLAS, TX – April 27, 2017 - Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $142 million in financing for the development of Pinecrest, an approximately 650,000-square-foot mixed-use lifestyle project in the Cleveland suburb of Orange Village, Ohio.
HFF worked on behalf of development partners, Cleveland-based Fairmount Properties and the DiGeronimo Companies, to place the construction loan with a syndicate of banks led by Huntington Bank, which also included KeyBank, First National Bank, First Commonwealth Bank and Flagstar Bank.  HFF also assisted the developer in securing joint venture equity for the project in June 2016.

Due for completion in spring 2018, Pinecrest will encompass more than 400,000 square feet of high-caliber retail, including many stores, restaurants and entertainment anchors that are new to the region and exclusive to Pinecrest.

 The retail component will feature tenants such as Whole Foods, REI, Silverspot Theaters, Pinstripes, West Elm, Williams Sonoma, Pottery Barn, Vineyard Vines and Kona Grill. 

The Offices at Pinecrest will consist of two adjoining 75,000-square-foot Class A office buildings, which will be positioned above the retail and restaurant component.  Pinecrest will also feature a 145-room AC Hotel by Marriott®, 87 high-end luxury apartments and a one-acre town center.

Jim Curtin
 The project is ideally situated on 58 acres to the east of Cleveland’s CBD at the center of Orange Village’s retail trade area just off Interstate 271 at Harvard Road.

The HFF debt placement team representing the borrower was led by senior managing director Trey Morsbach, managing director Danny Kaufman and director Jim Curtin.

  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 |

HFF closes sale of 309-unit apartment community in suburban St. Louis, MO

Residences at The Streets of St. Charles, 1650 Beale Street, St. Charles, MO

Sean Fogarty
CHICAGO, IL –- Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Residences at The Streets of St. Charles in the northwest St. Louis suburb of St. Charles, Missouri.

HFF marketed the property exclusively on behalf of the seller, Cullinan Properties, Ltd., and procured the buyer, Trilogy Real Estate Group.

Residences at The Streets of St. Charles is located at 1650 Beale Street within The Streets of St. Charles, a 1.5-million-square-foot development encompassing 26 acres immediately south of Interstate 70, which provides access to the greater St. Louis metropolitan area.

 The Streets of St. Charles is a distinctive mixed-use community with retail, dining, entertainment, hospitality, residential and office components. 

With a town center design that creates a neighborhood atmosphere, The Streets of St. Charles is unique in the market and includes all the latest amenities for sophisticated living, casual and elegant dining, retail, modern offices and entertainment.

Completed in 2014, the five-story, Class A property overlooks the Missouri River and features studio, one- and two-bedroom units ranging from 559 to 1,287 square feet with high-end finishes, including wood-style flooring, stainless steel appliances, custom cabinetry, designer backsplashes, walk-in closets and in-unit washers and dryers. 

Marty O'Connell
In addition to the dining, retail and entertainment amenities situated within the development, residents also have access to an infinity pool and hot tub, grilling area, fire pit, 24-hour fitness center, tanning bed, clubhouse, game room with billiards, business center, pet park, dog wash parlor and attached garage parking. 

The HFF investment sales team representing the seller was led by managing directors Sean Fogarty and Marty O’Connell and associate director Wickliffe Kirby.

 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 |


HFF arranges joint venture for luxury condominium development in Lower Manhattan

Eric Anton
NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a joint venture for the development of 69 West Broadway, a ground-up luxury condominium project in Lower Manhattan’s trendy Tribeca neighborhood.

HFF worked on behalf of the developer, Cape Advisors, Inc. and Forum Absolute Equity Partners, a private equity fund based in New York, to arrange the investment with a European fund, which contributed in excess of $21 million toward the total project cost of approximately $120 million.

69 West Broadway will occupy the block between Warren and Murray Streets at West Broadway in Tribeca.  This location, convenient to the 1, 2, 3, A and C Chambers Street metro stations as well as the newly completed, Santiago Calatrava-designed World Trade Center Transportation Hub, is being designed by BKSK Architects. The eight-story building will have 24 luxury units situated above ground-floor retail. 

HFF’s equity placement team was led by senior managing director Eric Anton.

“It is always a pleasure to work with the creative team at Cape Advisors, and I am happy that HFF was able to aid in the funding of their latest endeavor,” Anton said.  “Given the current challenges in securing capital for condominium development, this deal is a testament to the quality of the location, development team and long-term strength of New York City’s residential market.”

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 |