HFF secures $50 million financing for oceanfront residential development in Kiawah Island, SC

  

Kiawah Island, SC

  

Vicky Schiff

LOS ANGELES, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $50 million in financing for the development of Timbers Kiawah – Ocean Club & Residences, a private oceanfront residence club on Kiawah Island in South Carolina.

Ethan Penner

HFF worked exclusively on behalf of the borrower to secure construction financing from Mosaic Real Estate Credit, LLC, a firm co-founded by industry veterans Ethan Penner and Vicky Schiff.

Timbers Kiawah – Ocean Club & Residences, due for completion in summer 2018, will consist of a total of 21 fractional-ownership residences across three residential buildings, each with six ocean residences on the first three levels and an expansive fourth-floor ocean penthouse.

 As one of the few remaining oceanfront parcels on the island, the 3.5-acre development site is ideally situated at the end of Beachwalker Drive and Duneside Road on the most southwestern end of the 10-mile, crescent-shaped Kiawah Island Beach. 

The location offers convenient access to downtown Charleston and nearby shopping and dining amenities located at Freshfields Village, as well as 123 acres of parks, hiking and biking trails, 24 tennis courts and five world-class golf courses.

Paul Brindley

Units will provide access to a wide range of luxury amenities, including a spacious clubhouse with a central lounge area, owner services team, valet, bar and temperature-controlled owners’ wine wall, state-of-the-art fitness facility and children’s playroom.

  A private, ocean-front beach club will offer owners a luxurious swimming pool with terraced bar and grill that is steps from the beach.  

Owners at Timbers Kiawah will be members of the Timbers Collection, offering a host of perks and privileges from some of the most recognized travel and lifestyle partners around the world, as well as the opportunity to trade vacation time with other owners through the Timbers Reciprocity Program and experience destinations throughout the portfolio.

The HFF debt placement team representing the developer was led by senior managing director Paul Brindley, director Cory Fowler and associate director Brad Greenway.

For more info on Timber Resorts, please visit www.timbersresorts.com,

 www.facebook.com/timbersresorts, www.twitter.com/timbersresorts and www.pinterest.com/timbersresorts.

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

ohennessey@hfflp.com

Anantara Vilamoura Algarve Resort Launches in Portugal Bringing Authentic Luxury to Europe

Anantara Hotels, Resorts & Spas, Portugal

 

Chef Bruno Viegas

 ANANTARA VILAMOURA, PORTUGAL, April 12, 2017 -- Making its debut into Europe, Anantara Hotels, Resorts & Spas brings its authentic luxury to southern Portugal’s picturesque Algarve coast with the launch of Anantara Vilamoura Algarve Resort.

Nestled amongst orange grove trees and undulating wetlands, the resort brings to life Anantara’s ethos of connecting modern travellers with authentic destinations and ensures the brand’s signature Thai hospitality is paired with indigenous style and flavour.

Just a 15-minute drive from Faro International Airport, Anantara Vilamoura is located close to the ocean, marinas and beaches of the Algarve and boasts stunning views of the Arnold Palmer- designed Oceânico Golf Course.

Culinary excellence is at the heart of the Portuguese culture. Using his deep expertise in Portugal’s culinary traditions, Executive Chef Bruno Viegas has woven his passion throughout Anantara Vilamoura’s six bars and restaurants.

A new wine oriented restaurant concept comes to life at EMO, where Bruno and the resort’s Wine Guru António Lopes have masterfully created a menu that reflects the terroir heritage of the region.

 Focusing on Portuguese grape varieties and local produce, the duo elegantly pair dishes such as Braised Turbot, Salt Cod Loins and Pata Negra Ham with a selection of over 300 accompanying wines from the region, allowing diners to truly savour the tastes of the country.

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

Hwee Peng Yeo

Vice President

Glodow Nead Communications

hweepeng@glodownead.com

 www.GlodowNead.com

29th Street Capital Acquires 12th Bay Area Multifamily Property

Panoramic Apartments, San Leandro, CA

Casey Davis

San Leandro, CA – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Panoramic and Miramar Apartments in San Leandro, California.

The 79-unit community consists of two neighboring properties - Panoramic and Miramar - that sit side-by-side on Miramar Avenue and operate as one entity. It offers one- and two-bedroom units and is located immediately north of Hayward, where 29SC currently owns and operates five other multifamily communities.

29SC plans to strategically invest $2.3 million in capital improvements. Interior upgrades will focus on kitchens, bathrooms, energy-efficient windows and flooring. Exterior improvements will include structural repairs to walkways and railings, plus upgrades to the landscape, parking area and pool.

“We are thrilled to continue to grow in the East Bay and its surrounding submarkets,” said Casey Davis, 29th Street Capital’s Vice President of Acquisitions for Northern California. “This community presents a unique opportunity to demonstrate our value-add capabilities in a very attractive submarket with positive economic fundamentals.”

The East Bay and its neighboring submarkets have experienced significant economic and employment growth in recent years, which has resulted in a very tight rental market as housing demand continues to outpace new supply. As rents continue to rise in San Francisco, Oakland and Silicon Valley, San Leandro offers a more affordable option for workers and families.

“San Leandro is a great alternative to the nearby major cities,” Davis added. “The community has convenient access to a variety of transportation options as well as a strong base of employment opportunities.”

The transaction closed Apr. 10. The sale price was not disclosed.

29th Street Capital acquired 15 multifamily assets over the past 12 months and continues to actively pursue additional opportunities throughout the U.S. The firm will continue to target strategic value-add deals that are below the institutional radar, with the intention of offering its investors above-market returns.

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

Terri Thornton

Partner, Thornton Communications

Phone: 404-932-4347

Email: Terri@TerriThornton.com

 Website: www.TerriThornton.com

www.29thstreetcapital.com.