HFF Atlanta closes multifamily transactions totaling more than $100M in December 2008

ATLANTA, GA – The Atlanta office of HFF (Holliday Fenoglio Fowler, L.P.) closed more than $100 million in six multifamily transactions in December 2008 despite a sluggish investment and lending market.

Of the closed transactions, five were investment sales including two assets in Raleigh, North Carolina, two assets in Gastonia (Charlotte, NC suburb), and one asset in Atlanta, Georgia. The sixth transaction was the capitalization of a to-be-built apartment project in Atlanta.

HFF managing director Jason Nettles (top right photo) and associate director Megan Thompson (top left photo) led the investment sales team in closing the five sales on behalf of three separate owners to three distinct buyers.

The two Raleigh properties, The Lakes and The Lofts, have a total of 784 units and were sold by a national REIT to a private group of northeast-based investors. The two Gastonia properties, Quail Woods and Carriage House, have a total of 290 units and were sold by a private regional owner to a local private buyer.

The Atlanta property, Woodland Hills, has a total of 228 units, and was sold by a national REIT to a national investment group.

“HFF provides an outstanding capital markets-based platform which enables us to evaluate the strength of the buyers and make quality recommendations to our clients for selecting buyers that are capable of closing,” said Nettles. “In all but one case, these transactions were closed with the first buyer that went under contract – a rarity in this market environment.”

Director Michael Cale (bottom right photo) represented local developer Capital 33 in the capitalization of a to-be-built, luxury, in-fill apartment community on the east side of Atlanta. The construction loan was procured through a regional bank and a national advisor provided the equity investment.

“The infill nature of the site, combined with Capital 33’s strong development experience were all compelling factors in securing capital in such a difficult environment,” added Cale.

CONTACTS:

Jason Nettles, HFF Managing Director, 404 832 8460, jnettles@hfflp.com

Michael A. Cale, HFF Director, 404 832 8460, mcale@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, 713 852 3500, krmurphy@hfflp.com

HFF arranges $12.8M construction loan for suburban Indianapolis office development

INDIANAPOLIS, IN – The Indianapolis office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $12.8 million construction loan for Concourse at Crosspoint One, a to-be-built, Class A office building in suburban Indianapolis, Indiana.

Working on behalf of Edgeworth Laskey Properties, HFF director Jon Everson (bottom right photo) and associate director David Ross placed the 36-month, adjustable-rate construction loan with Busey Bank.

Edgeworth Laskey Properties LLC is a locally-owned and operated real estate development company that specializes in institutional-quality, Class-A commercial office space.

Due for completion in November 2009, Concourse at Crosspoint One will have 110,000 square feet of office space that is 27% pre-leased to USA Funds.

The four-story property is located at 9998 Crosspoint Boulevard within Concourse at Crosspoint office park, (bottom left photo) approximately 13 miles northeast of downtown Indianapolis via Binford Boulevard/Interstate 69.

CONTACTS:

Jonathan P. Everson, HFF Director, 317 630 3191, jeverson@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, 713 852 3500, krmurphy@hfflp.com