 |
| Mark Erland |
IRVINE, CA – HFF announced it has secured joint venture
equity for the development of The Village at Howard Hughes, a 375-unit,
Class A multi-housing development located within the Howard Hughes Center in
Los Angeles, California.
HFF
worked on behalf of the developer, Mill Creek Residential Trust LLC, in
sourcing the capital from an institutional investor. Equity proceeds were used to purchase the land in December, as
well as fund pre-development, with vertical construction expected summer/fall
2015.
The
Village at Howard Hughes is a future Class A multi-housing development located
on 2.91 acres at 5901 Center Drive within the Howard Hughes Center, a 70-acre
mixed-use urban campus with 1.5 million square feet of Class A office, retail
and entertainment space just off the 405 Freeway in west Los Angeles.
The project will consist of three six-story, modified Type
III, wood-frame buildings with five levels of residential units and one level
of at-grade parking situated above additional subterranean parking.
 |
| Sean Deasy |
Community features will include amenities programmed in
three spacious courtyard areas and a rooftop entertainment deck, and units will
have green living features and related technology fitting for the
submarket. Completion of the project is
expected in 2018.
The
HFF equity placement team representing the developer was led by director Mark
Erland and co-head of HFF’s multi-housing investment sales group Sean
Deasy, and real estate analysts Lee Redmond and Sebastian
Trujillo.
“The
Village at Howard Hughes is located in a true live-work-play location within
walking distance to The Promenade at Howard Hughes entertainment retail center
and Class A office space within the Howard Hughes master plan,” Erland
said.
“Adding to its appeal, the project serves as a gateway to Playa Vista
and Silicon Beach, and will offer tenants access to unrivaled amenities through
a unique layout with four community areas and convenient parking afforded by
the property’s podium design.”
For a complete copy
of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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