Tuesday, January 8, 2019

HFF announces $96.5 million in financing for multi-housing development in Portland, OR

                                                                   Rendering by GBD Architects
Planned 100 Columbia Apartments, Portland, OR

NEWPORT BEACH, CA – January 7, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces $96.5 million in financing for the development of 100 Columbia, a 348-unit, Class A+ high-rise multi-housing community in the Portland CBD.

Mark Erland
The HFF team worked on behalf of the developer, Alamo Manhattan, to secure the four-year construction loan through PCCP, LLC.  

As previously announced, HFF also assisted Alamo Manhattan in securing joint venture equity for the project in a transaction closed in May 2018.

100 Columbia is located on a 0.92-acre site that spans the block bound by SW Clay Street, SW 1st Avenue, SW Columbia Street and SW 2ndAvenue.  

The site, which has a WalkScore® of 93, will support what will be the nearest high-rise residential building to the Willamette River in the CBD.  

The site is also one block from Tom McCall Waterfront Park to the east and Keller Auditorium to the west and is within three blocks of the CBD’s core job center that is home to more than two million square feet of high-rise office.
Matt Benson

Due for completion in 2020, 100 Columbia will include a mix of studio, one- and two-bedroom ultra-luxury units averaging 817 square feet. 

 The 20-story development will feature premium interior finishes and community amenities, including an expansive 15,000-square-foot, sixth-floor amenity terrace and a 20th-floor rooftop resident lounge, which will open onto an observation deck offering unobstructed views of the downtown skyline, Mount Hood and the river.  

The property will also include a 16th floor rooftop terrace.  In addition to the multi-housing component, 100 Columbia will incorporate nearly 15,000 square feet of ground-floor retail, which will provide immediate convenience for residents and office employees in the surrounding area.

The HFF debt placement team representing the developer included senior director Mark Erland and director Matt Benson along with director Charlie Watson.

Charlie Watson
Alamo Manhattan is a Dallas-based real estate firm primarily focused on developing best-in-class, mixed-use multifamily assets in core urban markets.  

The firm was founded in 2010 to pursue new development opportunities in core urban markets.  

Alamo Manhattan currently focuses on urban markets in Texas and the West Coast, and has completed, or has under construction, approximately $465 million in development projects located in Dallas, San Antonio, Seattle and Portland.  The firm has a robust pipeline of future projects on sites that it either owns or controls, totaling over $225 million.  


HFF Senior Director
(949) 253-8800

HFF Public Relations Specialist
(713) 852-3403

HFF announces sale and acquisition financing of grocery-anchored retail center near Minneapolis-St. Paul

                                                                                                          Photo by John Sullivan
CityPlace, a
 mixed-use project at 305 Radio Drive in
 the Minneapolis-St. Paul-area community of Woodbury, MN
CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of and the acquisition financing for the fully leased, Whole Foods Market-anchored retail component of the CityPlace mixed-use project in the Minneapolis-St. Paul-area community of Woodbury, Minnesota. 

Amy Sands

The HFF team marketed the property on behalf of the seller, Elion Partners.  Inland Retail Property Fund, LP is acquiring the asset, which will be the eighth shopping center acquired by the retail fund focused on necessity retail. 

Clinton Mitchell
Additionally, the HFF team placed the 10-year, fixed-rate acquisition loan with Guardian Life Insurance Company of America.  HFF will service the loan.

Elion Partners redeveloped the former State Farm regional corporate headquarters into CityPlace, a mixed-use concept of retail, medical office, entertainment, 236 hotel rooms and a residential component that includes 253 apartment units on its 100 acres. 

The 184,711-square-foot, regionally dominant retail component included in the sale and financing was completed between 2016 and 2017 and features an ecommerce-proof mix of tenants, including:

 Whole Foods Market, Nordstrom Rack, Sierra Trading Post, La-Z-Boy Furniture, Sur La Table, Verizon Wireless, Chuck & Don’s Pet Store, CafĂ© Zupas, Qdoba Mexican Grill, Cycle Bar, Discover Strength Personal Fitness and Potbelly Sandwich Works. 

Daniel Finkle
CityPlace is located at 305 Radio Drive in Woodbury, which is 9.4 miles east of downtown St. Paul and 19 miles east of downtown Minneapolis. 

 The center has frontage along Radio Drive, Hudson Road and Interstate 94, which exposes it to a combined 105,000 vehicles per day.

  More than 60,500 residents earning an average annual household income of $116,000 live within a three-mile radius of the property, and there are approximately 148,000 residents within the trade area.

The HFF investment advisory team representing the seller included senior directors Amy Sands and Clinton Mitchell and senior managing director and co-head of HFF’s retail practice Daniel Finkle along with managing director Jules Sherwood, a licensed Minnesota real estate broker.

Jules Sherwood

The HFF debt placement team representing the new owner consisted of managing director Timothy Joyce, managing director Elliott Throne and senior director Jason Bond.

“We are grateful to the city of Woodbury for their partnership, which, coupled with Elion’s integrated capabilities as both a fiduciary and an operator, made this complex transaction a reality,” said Juan DeAngulo, managing partner and co-founder of Elion Partners.

  “This property is very special to us at Elion, and we are thrilled that it is now in great hands with Inland.”

“City Place, with its Whole Foods anchor and diverse tenancy, is a prime example of a quality necessity-based shopping center,” added Howard Fields, Inland Retail Property Fund portfolio manager.  “We are delighted to add City Place to our portfolio.”

Timothy Joyce
“CityPlace is strategically located along Radio Drive with excellent access to and visibility from Interstate 94,” Sands said. 

“We received very strong interest from both buyers and lenders for this offering due to the grocery-anchored and e-commerce-proof merchandising mix, as well as the credit anchor tenancy and long average lease term at the property. 

"This is a great long-term investment for the buyer, and HFF was privileged to work with both the buyer and the seller on this transaction.”

Elion Partners is a vertically integrated real estate investment firm with institutional-grade capabilities.

Elliott Throne
 Elion serves as both a fiduciary and an operator of real estate assets, managing over $2 billion through several closed-end funds and standalone permanent capital investment vehicles.

The firm serves as stewards of its clients' capital with a focus on preservation for the long-term. 

Elion's principals invest significant capital in each fund to ensure the utmost alignment of interests with their LPs. 

For more information, please visit http://www.elionpartners.com.

Inland Retail Property Fund, LP s an open-end fund that invests in necessity-based open-air retail shopping centers throughout the United States.

Jason Bond
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. 

HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. 

HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). 

 For more information, please visit hfflp.comor follow HFF on Twitter @HFF.

Juan DeAngulo

HFF Senior Director
(312) 528-3650

HFF Senior Director
(312) 528-3650

HFF Senior Managing Director
(305) 448-1333
Howard Fields

HFF Managing Director
(312) 528-3650

MN Lic. #EA.40340183
HFF Managing Director
(720) 744-2701

HFF Digital Content/Public Relations Specialist
(713) 852-3420


HFF announces sale of luxury mixed-use property in Chicago’s North Shore

The Commons at Town Center, North Shore, Vernon Hills, IL

CHICAGO, IL, Jan. 8, 2019 Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of The Commons at Town Center, a boutique luxury residential and retail property in the affluent North Shore community of Vernon Hills, Illinois.

The HFF team marketed the property on behalf of the seller, Inland Residential Properties Trust, Inc. (a member company of The Inland Real Estate Group of Companies, Inc.), and procured the buyer, FPA Multifamily, LLC.

Wick Kirby
The Commons at Town Center consists of 85 residential units averaging 1,240 square feet and more than 10,000 square feet of ground-floor retail space leased to:

 Sam Martirano Salon & Spa, Hawthorn Dental Associates, Design Studio Jewelry, Eight Piece and Giuseppe’s Pizza. 

Completed in 2010, the six-story property is located just northwest of Highway 45 and N. Milwaukee Avenue at 1255 Town Center, which positions it near 225,000 square feet of retail, award-winning schools and more than a dozen Fortune 500 employers.

 In addition to the retail component, community amenities include a heated indoor parking garage, fully equipped fitness center, hospitality room and resident lounge. 

Sean Fogarty
The one- through three-bedroom, condo-quality units feature well-appointed kitchens inclusive of granite countertops, high-end cabinetry, stainless steel appliance and large peninsulas; full-size washers and dryers; large walk-in closets; and expansive balconies.  Both the residential and retail components are fully leased.

The HFF investment advisory team included senior director Wick Kirby, managing directors Sean Fogarty and Marty O’Connell and director Kevin Girard.

With a business track record spanning five decades, The Inland Real Estate Group of Companies, Inc., is an industry leader and one of the nation’s largest commercial real estate and finance organizations.  

As a business incubator, Inland specializes in creating, developing and supporting Inland member companies that provide commercial real estate-related services and alternative investment funds, including limited partnerships, institutional funds and non-listed and listed REITs, and investment advice through a registered investment advisor.

Marty O'Connell
The companies that are members of The Inland Real Estate Group of Companies, Inc., which is headquartered in Oak Brook, Illinois, cumulatively employ more than 1,000 people nationwide. 

 Inland member companies have owned and managed hundreds of millions of square feet of various commercial property types in 49 states.  

“Inland” refers to some or all of the entities that are part of The Inland Real Estate Group of Companies, Inc., which is comprised of independent legal entities some of which may be affiliates, share some common ownership or have been sponsored and managed by Inland Real Estate Investment Corporation or its subsidiaries.

FPA Multifamily, LLC is a private equity real estate firm focused on the acquisition, renovation and management of both core plus and workforce housing apartment communities.

Kevin Girard
  Founded in 1985, FPA has owned over 104,000 apartment units valued at over $11 billion.  FPA is currently investing through its value-add focused FPA Apartment Opportunity Fund VI, which will acquire approximately $1.8 billion of assets, and its core plus focused FPA Core Plus Fund IV, which will acquire approximately $1.4 billion of assets.  

Headquartered in San Francisco, FPA also has offices in Irvine, Portland, Denver, Minneapolis, Dallas and Atlanta. 

 For more information, please visit http://www.fpamf.com/.


IL Lic. #475.117916
HFF Senior Director
(312) 528-3650

HFF Public Relations Specialist
(713) 852-3403

NAI Realvest Negotiates Industrial Land Sale near Downtown Sanford Where High-End Tool Manufacturer Will Provide Jobs by Summer

Tai Lee
Sanford , FL -- Orlando-based NAI Realvest recently negotiated the $325,000 sale of 1.19 useable acres of industrial land at 501 Gordon St. just east of downtown Sanford and south of S.R. 46.

 Tai LeeCCIM sales and leasing associate at NAI Realvest represented the seller, Magical Growth, Inc. of Lake Mary .   The buyer is Magma Diamond Tools, Inc. which makes high end tools for cutting, polishing, sanding and grinding granite.

Aerial of 501 Gordon Street land
 Sanford, FL
Young Cha Proctor, president of Magma Diamond Tools based in Lake Mary , said he plans to build two 7,500 square foot buildings on the property with Phase I planned for completion by May or June.  The company will initially add 4-5 jobs at the location.    


Tai Lee CCIM, Sales and Leasing Associate, NAI Realvest, 875-9989 TLee@Realvest.com

Robin L. Webb, CCIM, CHA, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest, 407-875-9989 Rwebb@realvest.com

Beth Payan, Larry Vershel Communications 407-644-4142 beth@larryvershel.com

HFF hires Drew Heitstuman as a director in its Seattle, WA office

Drew Heitstuman

SEATTLE, WA, Jan. 7, 2019  Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has hired Drew Heitstuman as a director focused on debt and equity placement transactions in its Seattle office.

Tom Wilson
Mr. Heitstuman joins HFF from Jones Lang Lasalle where he was an associate in their capital markets group. 

Prior to that, he worked as an analyst at Marcus & Millichap.  Mr. Heitstuman graduated with a Bachelor of Business Administration degree with concentrations in Finance and Economics from Gonzaga University in Spokane.

“HFF’s Seattle office officially opened for business a little over a year ago,” said Tom Wilson, senior managing director and co-head of HFF’s Seattle office.  

“In that time, we’ve successfully grown our headcount with new hires such as Drew that embody HFF’s culture and trusted advisor-style of business.  We are pleased to welcome him to the team.”


HFF Senior Managing Director
(206) 576-0050

HFF Director, Public Relations
(617) 848-1572