 |
| Rendering of Planned 511 Meeting Apartments, Charleston, SC |
ATLANTA, GA – Holliday
Fenoglio Fowler, L.P. (HFF) announced it has arranged equity and construction
financing for the development of 511
Meeting, a seven-story, 221-unit multi-housing community in Charleston,
South Carolina.
 |
| Megan Thompson |
HFF worked on behalf of
Spandrel Development Partners to arrange a general partnership with Origin
Investments and Aspen Heights.
Subsequently, on behalf of the newly created partnership, HFF secured
$59.216 million in construction/permanent financing and limited partner equity
through Northwestern Mutual.
 |
| Gregg Shapiro |
Due for completion in
2019, 511 Meeting will be situated on 1.6 acres in Charleston’s Upper King
Street district, which was ranked by U.S. News and World Report as one of the
10 Best Shopping Streets in the United States.
The property will consist of a blend of
conventional and workforce housing units along with 2,000 square feet of
ground-floor retail. Unit layouts will
include studio, one- and two-bedroom units ranging from 520 to 1,050 square
feet each.
The podium-style building
will feature two levels of parking at its base topped with four floors of
housing on the east side of the building and six floors of housing on the west
side. First-in-class community amenities
will include a resort-style swimming pool and relaxation lounge in the
courtyard as well as work space and multi-functional rooms.
The HFF team representing
the developer was led by managing director Gregg
Shapiro, director Megan Thompson
and senior managing director Jason
Nettles.
“After assembling a
general partnership comprising a top-notch entitlement, development and
construction team, we were extremely pleased that Northwestern Mutual came in
to provide both the construction financing and limited partner equity to
complete this exciting project on the extremely difficult to develop Charleston
peninsula,” Shapiro said.
For a
complete copy of the company’s news release, please contact:
Olivia Hennessey
Public Relations
Specialist
HFF | 9 Greenway Plaza,
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
No comments:
Post a Comment