HFF secures $63.5 million financing for development of luxury multi-housing community in Jersey City, NJ

                           Rendering by Dean Marchetto of Marchetto Higgins Stieve-http://dmarchitect.com).

Rendering of planned 207 Van Vorst Apartments, Paulus Hook Neighborhood,
Downtown waterfront district, Jersey City, NJ

                                 

 

Thomas Didio

FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $63.5 million in financing for the development of 207 Van Vorst, a proposed 255-unit, 15-story luxury multi-housing community in Jersey City, New Jersey.

HFF worked exclusively on behalf of 207 Van Vorst Street Realty Company LLC, a joint venture between institutional investors advised by J.P. Morgan Asset Management – Global Real Assets (J.P. Morgan) and Fields Development Group (Fields), to place the construction loan with Wells Fargo Bank.

The property is being developed on a 0.87-acre site situated on Van Vorst Street in the historic Paulus Hook section of Jersey City’s downtown waterfront district. 

The property will offer views of Manhattan, the Statue of Liberty and nearby marinas, and will be the first of a two-phase project that, once complete, will encompass two adjacent 15-story residential buildings totaling 408 units.

 Due for completion in 2017, Phase I of the project will have a mix of studio, one-, two- and three-bedroom units and two ground-floor retail spaces totaling 7,237 square feet.  Community amenities will include a rooftop swimming pool, fitness center, 24-hour concierge, landscaped courtyard, club room, children’s playroom and a 254-space AutoMotion© parking system.

The HFF debt placement team representing the borrower was led by senior managing director Thomas Didio.

“This project is in the heart of the Paulus Hook area of Jersey City and will be well received by the market once construction is completed,” stated Didio.  “This is another trophy property developed by the J.P. Morgan and Fields team.”

  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

www.jpmorgan.com/institutional/global_real_assets.

HFF secures $31.2 million acquisition financing for 345-unit multi-housing community in Denver, CO

Villas at Parker, 1090 South Parker Drive, Denver, CO

 

Josh Simon

DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $31.2 million in acquisition financing for Villas at Parker, a 345-unit, garden-style multi-housing community in Denver, Colorado.

HFF worked on behalf of the borrower, Advenir, Inc., to place the seven-year, 2.69-percent, adjustable-rate loan with three years interest only with Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. 

The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.  Loan proceeds were used to acquire the asset.  

Advenir will rebrand the property as Advenir@Cherry Creek North and will implement a capital improvement program to achieve greater rental premiums.

Villas at Parker has studio, one- and two-bedroom units averaging 724 square feet.  The 96-percent-leased community consists of 15 buildings plus a clubhouse and features a heated outdoor swimming pool, business center, fitness center, park and playground area, picnic areas and covered parking.

 Situated on 17.36 acres at 1090 South Parker Drive, Villas at Parker is located in southwest Denver with immediate access to the High Line Canal Trail, Denver’s 850-mile network of hiking and biking trails.  The Cherry Creek Trail is within one mile of the property and provides direct access to the Cherry Creek Mall. 

Eric Tupler

The property is approximately seven miles from Denver’s central business district, and the community is near several employment centers, including Buckley Air Force Base, Children's Hospital Colorado Anschutz Medical Campus and Denver Tech Center, which are all within 6.5 to 9 miles from the property. 

Additionally, the community is 3.5 miles from the Colorado Light Rail Station on the Southeast Rail Line.

The HFF debt placement team representing the borrower was led by Josh Simon and Eric Tupler.

  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

HFF secures acquisition financing for newly-built apartment community in suburban Houston, TX

Haven at Westgreen Apartments, 510 Westgreen Boulevard, Katy, TX

HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured acquisition financing for Haven at Westgreen, a newly-built, 225-unit, Class A apartment community in Katy, Texas.

HFF worked exclusively on behalf of the borrower, a joint venture between co-general partners CAF Capital Partners, The Rainier Companies and an unnamed party, to place the three-year, floating-rate bridge loan with PCCP, LLC.

Cortney Cole

Haven at Westgreen is situated at 510 Westgreen Boulevard immediately south of Interstate 10 within the epicenter of the Katy area’s growth.

 The property’s location offers convenient access to Houston’s Energy Corridor.  Completed earlier this year and currently in lease-up, the gated community has one- and two-bedroom units ranging from 634 square feet to 1,274 square feet. 

Community amenities include a resort-style swimming pool, poolside grill stations, fire pit, 24-hour fitness facility, resident lounge, conference room and detached garages.

 The HFF debt placement team representing the borrower was led by director Cortney Cole.

  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

www.pccpllc.com.

HFF secures $18.65 million financing for 7-building mixed-use property in Winter Park, FL

Hannibal Square II, West England and West Welbourne Avenues,
Downtown Winter Park, FL

Palmer Vietor

ORLANDO, FL, Jan. 20, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $18.65 million in financing for Hannibal Square II, a seven-building, 95,886-square-foot, Class A mixed-use property in Winter Park, Florida.

HFF worked exclusively on behalf of the borrower, Owens Realty Capital, to place the 10-year, fixed-rate acquisition loan with an undisclosed lender. 

HFF previously arranged a $10.32 million financing for Owens Realty Capital’s first Hannibal Square-area acquisition in late 2014. 

With this second acquisition, Owens Realty Capital now owns nearly two city blocks of mixed-use buildings adjacent to Winter Park’s affluent Park Avenue shopping district.  Palmer Vietor of Owens Realty Services represented Owens Realty Capital on both Hannibal Square transactions.

The assemblage of seven buildings is situated along West New England and West Welbourne Avenues between South Pennsylvania and South Virginia Avenues. 

Michael Weinberg

Constructed between 1945 and 2005, the buildings encompass 30,079 square feet of retail and 14,572 square feet of office space, which is nearly 100 percent leased to a variety of tenants including restaurants, upscale salons, interior design studios and home furnishing retailers. 

The property also has a 72-unit residential component totaling 51,235 square feet that is 100 percent leased.

The HFF debt placement team representing the borrower was led by director Michael Weinberg.

”This was an aggregation strategy of premier Winter Park real estate for the Owens Realty Capital team,” said Weinberg.  “Now that they control the majority of the Hannibal Square district, they will be able to drive rents especially as they turn and renovate the multi-housing units.”

  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

HFF secures capital for development of luxury multi-housing community in Plano, TX

Rendering of the planned Huntington Apartments, Preston Road and Headquarters Drive, West Plano, TX

Jeremy Sain

DALLAS, TX –- Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured capital for the development of The Huntington, a 320-unit, luxury multi-housing community adjacent to Legacy Business Park in west Plano, Texas.

HFF worked on behalf of a joint venture between Catalyst Urban Development and LandPlan Development to secure first mortgage construction financing through a regional bank and equity through Canyon Partners Real Estate LLC.

The Huntington will be built on a 5.55-acre site in the northeast quadrant of Preston Road and Headquarters Drive.  

The property will be adjacent to Legacy Business Park, a master-planned, 2,655-acre office development that hosts several major corporate headquarters including Toyota and FedEx, which are currently under development. The property is due for completion in first quarter 2018.

The HFF team representing the developer was led by associate director Jeremy Sain.

  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

www.catalysturban.com

www.landplan.net

www.canyonpartners.com.

$55 million sale of 387-unit multi-housing property in Vancouver, WA closed by HFF

The Pointe Apartments, 3708 NE 109th Avenue, Vancouver, WA

                                                                                                                    (photographer: Red Studio Inc.).

Kerry Hughes

PORTLAND, OR –- Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $55 million sale of The Pointe, a 387-unit, garden-style multi-housing property in Vancouver, Washington.

HFF marketed the asset exclusively on behalf of an affiliate of Kennedy Wilson.  Green Leaf Capital Partners purchased the offering for $55 million free and clear of existing debt. 

The Pointe is located at 3708 NE 109th Avenue just off Interstate 205, approximately 16 miles northeast of downtown Portland.  

The 94-percent-leased property has 37 residential buildings with one-, two- and three-bedroom units averaging 879 square feet each.  

Community amenities include two swimming pools, indoor spa, fitness center, barbecue area, dog run and clubhouse.

The HFF investment sales team was led by managing director Ira Virden and associate director Kerry Hughes.

Green Leaf Capital Partners is a vertically integrated real estate investment company based in Northern California that acquires, renovates and manages apartment properties in select markets in the United States.  

The company’s primary focus has been to purchase Class B apartment assets with a strong current return and some opportunity for capital appreciation through renovation and market dynamics.  

Ira Virden

Green Leaf Capital Partners looks to generate value for its partners through a disciplined investment underwriting process, intense focus on execution, and focus on the macro markets to determine best timing for exit.

Green Leaf manages its own assets through its subsidiary Green Leaf Partners, Inc. and also directly oversees its own construction team to manage rehabilitation projects and ongoing maintenance projects.

 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