HFF arranges financing totaling $22.226 million for townhome-style apartment communities in Denver, CO

Platt Park North One and Two Apartments, Platt Park Neighborhood, Denver , CO

 DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged two separate financings totaling $22.226 million for Platt Park North One and Two, two newly-built, 30-unit, Class A, townhome-style apartment communities in Denver’s Platt Park neighborhood.

The combined property (“Platt Park North”) consists of 60 units across 10 buildings, owned separately by Pando Holdings (five buildings) and CF Investments (five buildings).

Leon McBroom

 HFF worked exclusively on behalf of each borrower to secure the seven-year, floating-rate loans through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.

  Both loans, which closed at 2.84 and 2.88 percent interest respectively with two years of interest-only payments, used a forward spread lock component to lock in pricing before spreads started to increase in the market and were used to replace existing construction financing.

 The securitized loans will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.

Completed in 2015, Platt Park North offers a mix of two- and three-bedroom floor plans averaging 1,426 square feet.  The for-rent residences feature energy-efficient construction materials; in-unit laundry facilities; mudrooms; balconies; Nest® thermostats; ENERGY STAR®-rated appliances and windows; and attached two-car garages. 

The property is located just south of the Broadway/Interstate 25 interchange at 110-390 East Mississippi and 1110-1140 South Lincoln Street, approximately 3.3 miles south of downtown Denver.

Josh Simon

 Situated one half of a mile from two light rail stations, the transit-oriented property is walkable to Old South Pearl Street, which is home to multiple retail, dining and nightlife amenities.

 Additionally, within a half mile of the community is the 165-acre Washington Park with its two lakes, historic boathouse, tennis courts, horseshoe pits and seven miles of bicycle/jogging trails.

The HFF debt placement team representing Pando Holdings and CF Investments was led by managing director Josh Simon and associate director Leon McBroom.

 “By doing two separate loans on 30-unit projects, we were able to have these qualify as uncapped business for Freddie Mac,” said McBroom.  “This allowed us to get the borrowers more advantageous pricing and flexibility on their exit strategies.”

  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 closes $25.35 million sale of Beaverton, OR multi-housing community

Spyglass Hill Apartments, 14305 SW Sexton Mountain Drive, Beaverton, OR

 

Ira Virden

PORTLAND, OR –- Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Spyglass Hill, a 137-unit, garden-style multi-housing community in Beaverton, Oregon.

HFF marketed the asset exclusively on behalf of Hamilton Zanze.  Pacific Urban Residential (PUR) purchased the offering for $25.35 million free and clear of existing debt.

Spyglass Hill is located at 14305 SW Sexton Mountain Drive near major area thoroughfares, including Route 217, Highway 26 and Interstate 5.  

The property’s location positions it approximately 11 miles southwest of downtown Portland and near large regional employers such as Nike and Intel. 

Spyglass Hill is 97.9 percent leased and offers a mix of one-, two and three-bedroom units totaling approximately 122,057 rentable square feet.  Community amenities include a swimming pool, hot tub, barbecue/picnic area, fitness center, clubhouse and business center.

The HFF investment sales team was led by managing director Ira Virden.

“The partnership executed on our business plan for this property and felt that this was an opportune moment to recycle the capital and move on,” said Kurt Houtkooper, Chief Investment Officer at Hamilton Zanze.

  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.purapts.com.

 www.hamiltonzanze.com.

M&R Development Forms Joint Venture to Develop 297-Unit Residences at Hamilton Lakes in Itasca, IL

  

Anthony Rossi Sr.

 ITASCA, IL  — M&R Development has entered into a joint venture with Itasca-based Hamilton Partners and equity partner Murphy O’Brien to develop The Residences at Hamilton Lakes, a 297-unit luxury rental community immediately adjacent to the Hamilton Lakes Business Park in Itasca, Illinois.

Slated to break ground this spring, with delivery scheduled for 2017, The Residences of Hamilton Lakes will offer a mix of studio, one- and two-bedroom apartments across three four-story buildings.

Bordered by Prospect Avenue on the east, Arlington Heights Road on the west and Thorndale Avenue on the south, the 10.7-acre community will be the first rental property developed in Hamilton Lakes Business Park, which includes over 3 million square feet of office space, as well as restaurants and two hotels.

“Now more than ever, people want to live close to where they work, as evidenced by all of the residential development occurring in downtown Chicago,” said Tony Rossi Sr., president of Chicago-based M&R Development.

“With the addition of The Residences at Hamilton Lakes – the first development of its kind in the Itasca area since 1990 – thousands of suburban professionals who work in and around the Hamilton Lakes Business Park will finally have a residential option that takes the headache out of their morning and afternoon commutes.

“We’re excited to bring resort-style living to couples, empty nesters, and other renter-by-choice clients in the near western suburbs.” 

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

Sara Williams, swilliams@taylorjohnson.com, (312) 267-4510

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

Winston-James Development Signs on Pastry Café at Aloma Business Center in Winter Park, FL

Winston Schwartz

WINTER PARK, FL --- Winston-James Development recently added a new tenant at its Aloma Business Center in Winter Park.

Winston Schwartz, president of Winston-James Development, said The Pastry Café has leased 1,870 square feet at the Aloma Business Center, 2785 Wrights Rd. off Aloma Avenue in Winter Park.      

Schwartz said The Pastry Café is a specialized European bakery that also has a retail outlet in Oviedo.

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.

Berkadia Closes on 200 Apartment Units in Montgomery, AL

 

Josh Jacobs

 BIRMINGHAM, AL --- Berkadia recently negotiated the sale of Woodmere at the Lake, a 200-unit apartment community located in Montgomery for $8,100,000 or $40,500 per unit.

Built in 1978, Woodmere at the Lake is a garden-style community with an average unit size of 870 square feet which has recently been repositioned.

Josh Jacobs, Associate, and David Oakley, Managing Director of Berkadia Real Estate Advisors, LLC  in the Birmingham office, represented the seller, ABACO Partners, LLC.  The purchaser was Woodmere Apartment Partners, LLC.

Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, is an industry-leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties.

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.

Hold-Thyssen Negotiates Five Commercial Leases in the College Park and Maitland areas of Orlando, FL totaling 22,000 Square Feet

  

Joelle Forster

WINTER PARK, FL --- Hold-Thyssen, Inc., a commercial property firm based in Winter Park, recently negotiated five leases for a total of 22,077 rentable square feet of commercial flex and office space at centers in the College Park and Maitland areas.

The Hold-Thyssen leasing team of Alex Rowlinson and Troy Stevens represented the south Florida based landlord in a long-term lease agreement for 10,777 square feet in the Kennedy Commerce Center at 997 W. Kennedy Blvd. The new tenant is Commercial Systems Group, Inc., a fire and security alarm systems provider.

Rowlinson and Stevens negotiated three more lease agreements for flex space in the Edgewater Commerce Center, 6250 and 6270 Edgewater Drive in College Park representing the same landlord.  

Martin Forster

Hotsy of Orlando, Inc., a pressure cleaning firm, signed a long-term lease of 4,800 square feet; Clean Sweep, a commercial cleaning service completed a lease renewal for 3,200 square feet; and Bowman’s Auto leased 2,000 square feet.

The Hold-Thyssen team of Martin and Joelle Forster represented the landlord Maitland Office Park at 500 N. Maitland Ave. in a lease agreement with Atlantic Coast Management, Inc. management consulting firm for a four office suite comprising 1,300 rentable square feet.  

Hold-Thyssen, Inc. provides commercial property and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States.

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.