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| Jaaret Turkell |
MIAMI, FL –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the $52.7 million sale of
and secured $26.6 million in acquisition financing for Bridges at Kendall Place, a 228-unit, luxury apartment community in
Miami, Florida.
HFF represented the
seller, Jamestown, in the sale of the asset to Stockbridge Capital Group, LLC
(Stockbridge), who purchased the asset on behalf of a pension fund.
Additionally, HFF assisted the new owner in
securing a 10-year, 3.45 percent, fixed-rate acquisition loan through
Prudential Mortgage Capital Company.
Bridges at Kendall Place
is situated on 15.81 acres at 8485
Hammocks Boulevard in the Kendall neighborhood of western Miami.
Completed in 2013, the
property is within walking distance to several retail and dining options and
convenient to several of the Miami area’s largest employers. The garden-style community has seven,
three-story residential buildings totaling 244,236 square feet offering one-,
two- and three-bedroom floor plans.
Property amenities include a swimming pool and
sun deck; kids’ room and playground; dog park; clubhouse; fitness center;
business center; and access to an adjoining park with lakes and walking trails.
 |
| Maurice Habif |
The HFF investment sales
team representing Jamestown was led by managing director Jaret Turkell and associate director Maurice Habif.
HFF’s debt placement team
representing Stockbridge was led by managing director Elliott Throne and director Chip
Sykes.
“Bridges at Kendall Place
is a best-in-class asset in one of South Florida’s most dynamic and rapidly
growing submarkets,” said Turkell. “This
property is a core asset that is well positioned for long-term growth and
strong performance.”
“Further adding to the
asset’s upside, the buyer was able to lock in excellent long-term, fixed-rate
acquisition financing while interest rates are at incredibly low levels,” added
Throne.
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
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