ATLANTA, GA – HFF announced that it has arranged a construction loan and joint venture equity totaling $37 million for the development of Steel House, (top left photo), a 326-unit, Class A multi-housing community in Orlando, Florida.
HFF worked on behalf of Pollack Shores Real Estate Group to secure a $25 million construction loan through a national commercial bank and $9 million in joint venture equity with an institutional private equity firm.
Steel House is situated on a 4.8-acre site at the intersection of North Orange Avenue and West Colonial Drive in the Uptown neighborhood of Orlando. Upon completion in February 2013, the property will feature 326 one- and two-bedroom units.
Community amenities will include a sports club, business center, media room, pool, grilling area, fourth floor clubroom and lounge with downtown views, and controlled access parking garage.
The HFF team representing Pollack Shores Real Estate Group was led by senior managing director Mark Sixour (middle right photo)
Pollack Shores Real Estate Group is an Atlanta-based investor/developer of multifamily properties throughout the Southeast. Pollack Shores has overseen the development, acquisition and disposition of 35,000 residential units representing more than $3.2 billion in value over the past 30 years.
Contacts:
MARK D. SIXOUR KRISTEN M. MURPHY
HFF Senior Managing Director HFF Associate Director, Marketing
(404) 832-8460 (713) 852-3500
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