Wednesday, April 10, 2019

HFF closes $263.8 million sale of Soho Lofts in Jersey City, NJ

Soho Lofts is located at 273 16th Street
on the border of Jersey City, NJ and Hoboken, NJ
in the expanding 
“South of Hoboken” neighborhood.

Jose Cruz
MORRISTOWN, NJ, April 10, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the $263.8 million sale of Soho Lofts, a 377-unit, luxury apartment property in Jersey City, New Jersey.

HFF marketed the property exclusively on behalf of the seller, AEW, and procured the buyer, Mack-Cali Realty Corporation, acting on behalf of Roseland Residential Trust, its growing multi-housing platform.

Soho Lofts is located at 273 16th Street on the border of Jersey City and Hoboken in the expanding “South of Hoboken” neighborhood. 

The property is immediately adjacent to Interstate 78 and the Holland Tunnel and is proximate to downtown Hoboken, as well as the PATH train, ferry terminal and NJ Transit Bus Terminal. 

Kevin O'Hearn
Completed in 2018, the property consists of 369 studio through three-bedroom units as well as eight townhouses situated within 13- and 20-story towers connected by four- and seven-story structures. 

 Soho Lofts also includes 17,300 square feet of ground-floor retail space and a 375-space parking garage.  

Units average 1,191 square feet in size with best-in-class features, including gourmet kitchens with stainless steel appliances, custom cabinetry and granite countertops;

bathrooms with enclosed glass showers, rain showerheads and Carrara tile; expansive windows with views of the Manhattan skyline; 10-foot ceilings; white oak flooring; exposed duct work; and in-unit washers and dryers. 

Michael Oliver
 The property includes numerous resort-style amenities, including an infinity edge pool, private poolside cabanas, fireside seating with outdoor TV, cinema room, Zen garden, expansive fitness center, indoor/outdoor yoga room, 10-person sauna, demonstration kitchen and private party room, arcade lounge with billiards and shuffleboard, tech lounge, children’s playroom and dog grooming rooms.

The HFF investment advisory team representing the seller included Jose Cruz, Michael Oliver, Kevin O’Hearn, Stephen Simonelli, Jordan Avanzato and Mark Mahasky.

Stephen A. Simonelli
“Investors responded very favorably to this offering, given the lack of multi-housing opportunities on the waterfront and the building’s high-quality construction,” Cruz stated.  “Core offerings like Soho Lofts in core locations like Jersey City provide significant future capital appreciation along with current returns.”

HFF and Holliday GP Corp. ("HFF") are licensed New Jersey real estate brokers.

About Roseland Residential Trust

Roseland Residential Trust is an owner, manager and developer of luxury lifestyle-oriented multifamily and mixed-use properties in select waterfront and transit-oriented markets throughout the Northeast. 

 A subsidiary of Mack-Cali Realty Corporation, one of the country's leading real estate investment trusts (REITs), Roseland is the master developer for several nationally recognized mixed-use destinations, including Port Imperial, a $3 billion, 200-acre community on the Hudson River Waterfront in New Jersey.

Mark Mahasky
About HFF

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 or follow HFF on Twitter @HFF.

Jordan F. Avanzato


NJ Lic. #8743725
HFF Senior Managing Director
(973) 549-2000

HFF Public Relations Specialist
(713) 852-3403

Meta Housing Breaks Ground on 72-Unit Transit-Oriented Affordable Multifamily Development in Los Angeles, CA

Monique King-Viehland
Los Angeles, CA – Meta Housing Corporation, a Los Angeles-based developer, in a joint venture partnership with Western Community Housing, a Southern California-based non-profit public benefit corporation, has announced the development of Vermont Corridor Apartments, a six-story, transit-oriented senior and permanent supportive housing multifamily community in the Koreatown neighborhood of Los Angeles, California.

Vermont Corridor Apartmnts, 433 S. Vermont Avenue,
Koreatown submarket, Los Angeles, CA

The $51.4 million project will provide affordable housing for seniors aged 62+ earning between 25 and 60 percent of area median income.

Monique King-Viehland, Executive Director of the Community Development Commission/Housing Authority of the County of Los Angeles, comments:

“We look forward to the future of the Vermont Corridor Apartments and its position in the community – a hub that will provide affordable homes for seniors and special needs residents.

"The addition of the YMCA on the first floor will help to enhance the neighborhood through their commitment to meeting community needs through a strong range of programs.”

Meta Housing Corporation and Western Community Housing will serve as co-developers and general partners on the project. Western Community Housing will also coordinate resident services, while The People Concern will coordinate supportive services.

Kasey M. Burke
 Westport Construction, Inc. will serve as the general contractor, with Y&M Architects as architect. AMJ Construction Management will handle construction management, and The John Stewart Company will manage the property.

Vermont Corridor Apartments will be located at 433 S. Vermont Avenue in Los Angeles, California. The project is expected to be completed in March 2021. 

Of the 72 units to be built at the property, 36 will include supportive services funded through the County of Los Angeles' voter-approved Measure H, and subsidized rents for residents experiencing varying levels of homelessness. 

Aaron Mandel
These units were constructed with funding from voter-approved Proposition HHH from the City of Los Angeles and a partnership with the Housing Authority of the City of Los Angeles (HACLA), the Los Angeles Housing and Community Investment Department (HCID) and the County of Los Angeles.

“Affordable senior housing is extremely difficult to find in Los Angeles,” says Kasey Burke, President of Meta Housing. “Los Angeles needs more affordable alternatives for older residents, and we are delivering that alternative in this project. 

"This is a great example of public private partnership working together to improve the community and the lives of our future residents.”

In addition, Vermont Corridor Apartments will include a 12,500 square foot community center on the ground-floor dedicated to the YMCA that will provide community services through its local partnerships and service offerings.

Mark Ridley-Thomas
  “Our partnership with the YMCA provides a cultural center that will serve as a gathering place for the surrounding neighborhood,” explains Aaron Mandel, Executive Vice President of Meta Housing. “By offering these services, we are encouraging interaction and well-being among our future residents and their neighbors.”

Mandel notes that the new development is a reuse of an underutilized County property that will provide a quality and safe environment for residents at an affordable cost while reducing blight in the area. The development will also generate an estimated 321 construction jobs and seven permanent jobs.

“The Vermont Corridor Apartments project is a promise fulfilled,” says City of Los Angeles Supervisor Mark Ridley-Thomas. “For Koreatown residents, it provides not only affordable homes to seniors who need it most, but also a long-awaited community center with a wellness center to be operated by the YMCA.

"Working with Meta Housing and Western Community Housing, as well as the City of Los Angeles and other partners, we have repurposed an aging Los Angeles County facility and transformed it into a beautiful new asset for the community. That’s public-private partnership at its best.”

Vermont Corridor Apartments will feature one- and two-bedroom floorplans for residents and a two-bedroom manager’s apartment. The development will offer generous common spaces including open-space courtyards to encourage interaction among residents, according to Mandel.


Micaela Fehrenbach / Lexi Astfalk
Brower Group

(949) 438-6262

Arbor Funds $47 Million Fannie Mae DUS® Loan in Tucker, GA

Stephen York
UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® loan in Tucker, GA. 

13Ten Apartment Homes, a 977-unit multifamily property, received $47M in refinance funding through the program. The loan includes a 12-year fixed rate term with six years of interest only.

Stephen York of Arbor’s New York City office originated the loan.

“The closing of this deal really illustrates Arbor’s advantage as a one-stop shop for borrowers,” York said. “We originated this property as a bridge loan in 2017, and are now finishing the job via a cash-out refinance with competitive terms and interest rates. It’s proof of our commitment to clients over the life of a loan.”
13Ten Apartment Homes, Tucker, GA

Built in 1988 and renovated in 2019, 13Ten Apartment Homes is a gated community comprised of villas, lofts and townhomes that feature built-in shelfing, private balconies, breakfast bars, wood-burning fireplaces and panoramic views.

Community amenities for the property include an oversized fitness center, indoor and outdoor pools, business center, dog park, car-care center, gazebo with fishing pier, and a beautiful lake.


Bina Handa
Tel: 516.506.4229

Dan Israeli