WNC’s Community Preservation Partners to Acquire and Renovate Plaza Townhomes in Portland, OR

Anand Kannan

PORTLAND, OR,  Sept. 21, 2015 – WNC, a national investor in real estate and community development initiatives, announced today that its subsidiary, Community Preservation Partners LLC, has entered into an agreement to purchase Plaza Townhomes, an affordable housing community located at 5802 N. Michigan Ave., in Portland, Ore.

Community Preservation Partners will begin renovations at the community upon acquisition, and is expected to complete more than $3 million in upgrades to the property.

“Community Preservation Partners is committed to preserving the stock of affordable housing in the U.S., which continues to fall far short of growing demand,” said Anand Kannan, president of WNC’s Community Preservation Partners, LLC. “We are thrilled to expand our reach to Portland, Oregon, with this acquisition as we seek to expand our preservation efforts throughout the nation.”

Jack Aronson, director of development acquisitions, is leading the acquisition on behalf of Community Preservation Partners.

For a complete copy of the company’s news release, please contact:

Julie Leber

Spotlight Marketing Communications

949.427.5172, ext. 703

julie@spotlightmarcom.com

www.wncinc.com.

HFF arranges $23 million financing for newly-built retail center with boutique grocer in Portland, OR

  

Timberland Town Center, Portland, OR

 

Casey Davidson

PORTLAND, OR – Sept. 21, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $23 million in financing for Timberland Town Center, a 91,801-square-foot retail center anchored by a boutique grocer in Portland, Oregon.

HFF worked on behalf of the borrower, Timberland Town Center LLC, an Oregon limited liability company controlled by Gramor Development, Inc., to secure the 10-year, fixed-rate loan with AXA Equitable Life Insurance Company through its advisor Quadrant Real Estate Advisors.

 Loan proceeds were used to take out the construction loan, as the property just reached stabilization.

The HFF debt placement team representing the borrower was led by managing director Casey Davidson.

”This was an exciting project, as Gramor always constructs best of class properties with the right tenant mix and a long-term hold mentality,” Davidson said.  “The center had significant preleasing when we started the process 12 months ago, which really helped generate interest with the insurance company lenders.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

www.gramor.com

HFF arranges financing for 318-unit multi-housing community in Fort Worth, TX

John Rose

DALLAS, TX – Sept. 21, 2015 - Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged financing for Overlook Ranch, a 318-unit multi-housing community in Fort Worth, Texas.

HFF worked on behalf of the borrower, CAF Capital Partners, to secure the five-year, floating-rate loan through Prime Finance.  Loan proceeds were used to acquire the property, which recently reached stabilization.

Overlook Ranch is located at 3101 Alliance Gateway Freeway in north Fort Worth just off Interstate 35 in the 18,000-acre AllianceTexas master-planned, mixed-use community.  

Completed in 2015, the property has 270,916 rentable square feet with individual units ranging from 650 to 1,250 square feet each.  Community amenities include a swimming pool, fitness center, playground, grilling area, car wash center, clubhouse, lounge, business center and breakfast/coffee concierge.

The HFF debt placement team representing the borrower was led by senior managing director John Rose and associate director Michael Cosby.

For a complete copy of the company’s news release, please contact:

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

Stirling Sotheby’s International Realty Named Sales and Marketing Representative for Penthouse in Downtown Signature Condominium Overlooking Lake Eola in Orlando, FL

Michelle Hochfelder

ORLANDO, FL  - Stirling Sotheby’s International Realty was recently named exclusive sales and marketing representative of a 2,500 square foot luxury penthouse in The Sanctuary a prestigious downtown Orlando condominium overlooking Lake Eola. 

Michelle Hochfelder, luxury homes specialist at Stirling Sotheby’s International Realty’s Dr. Phillips office is representing the property.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said the 16th floor penthouse residence features extra high ceilings and extensive window exposure for spectacular views of the city and lake.  

For a complete copy of the company’s news release, please contact:

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com