Done Deals: HFF announces sale of and financing for Class A apartments in Fayetteville, AR

Monday, September 24, 2018

HFF announces sale of and financing for Class A apartments in Fayetteville, AR

Uptown Fayetteville Apartments+Shops,
3959 North Steele Boulevard, Fayetteville, AR

DALLAS, TX, Sept. 24, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of and financing for Uptown Fayetteville Apartments+Shops, a 308-unit, Class A apartment community in Fayetteville, Arkansas.

The HFF team marketed the property exclusively on behalf of the seller, Specialized Real Estate Group.

Steven Hahn Jr.

Sun Holdings Group purchased the offering free and clear of existing debt. Additionally, HFF worked on behalf of the new owner to secure a 10-year, fixed-rate acquisition loan through Freddie Mac’s CME Program.

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

Completed in 2017, Uptown Fayetteville Apartments+Shops comprises a mix of studio through two-bedroom units averaging 828 square feet each as well as nearly 17,000 square feet of ground-floor retail.

The eight-building property is situated on 14 acres at 3959 N. Steele Boulevard, which is approximately four miles north of downtown Fayetteville and the University of Arkansas.

In addition to the onsite retail, Uptown Fayetteville is within five miles of more than 12 million square feet of retail and entertainment destinations, including Northwest Arkansas Mall, Walmart Arkansas Music Pavilion and the Walton Arts Center.

The LEED-certified community features a heated saltwater pool, outdoor gathering space with fire pit, community garden, landscaped roof deck, outdoor kitchen with three grilling areas, state-of-the-art fitness center, custom art murals, garages/covered parking and direct access to the Razorback Regional Greenway.

The property’s units feature modern, high-end finishes, including stainless steel appliances, granite countertops, kitchen islands, full-size washers and dryers, spacious balconies and some include spiral staircases leading to private rooftop decks.

The HFF investment advisory team representing the seller included director Steven Hahn, Jr., senior managing director Roberto Casas and senior director Greg Toro.

Brian Carlton

HFF’s debt placement team representing the borrower included senior managing director Brian Carlton.

Specialized Real Estate Group (SREG), headquartered in Fayetteville, Arkansas, is a real estate development and property management company focused on building healthy communities, spanning multifamily, mixed-use, commercial, hospitality and single-family. SREG has developed over 1.2 million square feet of LEED certified space.

Sun Holdings Group is a premier 25-year-old real estate investment and management company, with broad experience and expertise in multifamily, hospitality and retail sectors. The group is headquartered in Houston, Texas, with properties located across the globe.