HFF arranges £17.034 million ($22.25 Million U.S.) financing for KAO ONE in Harlow, Essex, London

KAO ONE office complex, Harlow, Essex, London

LONDON, ENGLAND –– HFF Real Estate Limited (HFF) announced it has arranged £17.034 million ($22.25 million U.S.) in financing for KAO ONE, a 118,854-square-foot office property in Harlow, Essex, London. 

HFF worked on behalf of the borrower, AR Investments Limited, which was advised by Capital Trust Limited, to secure the four-year, floating-rate acquisition loan through ICBC (London) Plc.

Fully refurbished in June 2016, KAO ONE is 100 percent leased to Raytheon Systems Ltd and Arrow Electronics.

  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

HFF arranges equity and debt for 221-unit multi-housing development in Charleston, SC

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

ohennessey@hfflp.com

www.ahpliving.com

 www.origininvestments.com.

HFF closes sale of two apartment towers in Newark, NJ

  

 

Jose Cruz

 FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of The Addison, two 15-story apartment towers totaling 219 units in Newark, New Jersey.

HFF marketed the property exclusively on behalf of the seller, Azure Partners LLC.

The Addison is located at 380 and 402 Mount Prospect Avenue in the Forest Hill section of Newark.  

Both towers are conveniently located approximately ten minutes from downtown Newark and 25 minutes from Manhattan via the Holland Tunnel and are adjacent to a host of retail options, public transportation, a county park and major highways. 

The Addison offers a variety of studio, one-, two- and three-bedroom units ranging from 700 to 1,750 square feet.  The property is 99 percent occupied.

The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn and directors Michael Oliver and Stephen Simonelli.

“We continue to see high demand for infill multifamily properties throughout the state with significant value,” stated Cruz.

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

HFF closes sale of Publix-anchored shopping center in Birmingham, AL

Daniel Finkle

MIAMI, FL, July 27, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Clay Marketplace, a 66,165-square-foot community shopping center anchored by Publix in Birmingham, Alabama.

HFF marketed the property on behalf of the seller, Kite Realty Group Trust.  The property was purchased free and clear of financing.

Clay Marketplace is anchored by Publix, the dominant grocery store in the region, and is 98 percent leased to AutoZone, Subway, Phil Rose Shoes, Spirit Locker, Pasquale’s and more.

 Situated on 7.8 acres at 2121 Sweeney Hollow Road, the center is in northeastern Birmingham on the west corner of the intersection of Chalkville Mountain Road, Old Springville Road and Sweeny Hollow Road, three of the trade area’s major roadways with combined traffic counts of approximately 53,970 vehicles per day. 

There are more than 48,000 residents earning an average annual household income of $64,747 within a three-mile radius of Clay Marketplace.

The HFF team representing the seller was led by senior managing director and co-head of HFF’s retail practice Daniel Finkle, senior managing directors Jim Hamilton and Brad Peterson and director Eric Williams.

“Clay Marketplace represented a rare opportunity to acquire a dominant Publix-anchored shopping center in Birmingham, Alabama, with strong tenant performance,” Hamilton 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

ohennessey@hfflp.com

www.kiterealty.com.

HFF arranges $17.729 million financing for retail power center near Dallas, TX

 

Chris Drew

MIAMI, FL, July 27, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $17.729 million in post-acquisition financing for Creekwalk Village, a 174,484-square-foot, fully leased retail power center in the north Dallas-area community of Plano, Texas.

HFF worked on behalf of the borrower, an entity controlled by Sterling Organization, to place the loan with Southside Bank.

Creekwalk Village is home to Michaels, Bed Bath & Beyond, Barnes & Noble, Petco, Old Navy, Designer Shoe Warehouse, Plano Urgent Care, Uptown Nail Spa and Hallmark.

 Situated on 14.71 acres at 801 West 15th Street, Creekwalk Village is proximate to Collin Creek Mall and the 180-acre CityLine mixed-use development comprising three million square feet of office and 92,000 square feet of retail space; a Whole Foods Market; 1,700 residential units and 150 hotel rooms. 

Approximately 103,699 residents earning an average estimated annual household income of more than $94,500 live within three miles of the property.

The HFF debt placement team was led by senior managing director Chris Drew, senior director Nat Scarmazzi and director De’On Collins.

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

https://www.southside.com/

http://www.sterlingorganization.com/

Audubon Communities Acquires Gainesville, GA Multifamily Property in $22 Million Deal

Myles Cunningham

ATLANTA, GA (July 27, 2017) – Audubon Communities, an Atlanta-based company specializing in the acquisition and management of multifamily properties throughout the Southeast, has purchased the 292-unit Lenox Park complex in rapidly growing Gainesville, Georgia for $22 million. The property will be renamed Peaks at Gainesville.

Audubon plans to invest nearly $3 million in improvements to the property, which was built in 2000 and consists primarily of large two- and three-bedroom apartments that average 1,100 square feet, making it ideal for families and roommate living arrangements.

“Gainesville is a highly desirable market because of its strong population and job growth,” said Myles Cunningham, Audubon’s vice president of acquisitions. “Lenox Park was a quality property in a great location. It was an attractive investment, and we believe the renamed Peaks at Gainesville will be a big success.”

The population in the Gainesville area has grown more than 40 percent since the 2000 Census. Employment grew 6.2 percent in 2015, easily the fastest rate in the state and the third-fastest in the South. Employment is anchored by Northeast Georgia Health System, which employs more than 7,000 people. Hall County is home to 300-plus manufacturing and processing businesses, and 46 international companies representing 18 nations.

Christopher Edwards

Audubon’s planned renovations include:

§  Upgrades to the leasing office, pool and other amenity areas

§  Addition of a fitness center

§  Renovation and expansion of the existing playground

§  New fiber-cement siding

§  New lighting, exterior paint and signage

§  Correcting drainage and erosion issues and installing new landscaping

“We’re confident the investments we’re making to improve the property will be appreciated by current residents and be a great selling point for our leasing staff going forward,” said Christopher Edwards, Audubon’s managing director.

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

Gary Tanner

The Wilbert Group

678-677-9754

gtanner@thewilbertgroup.com

 http://www.acmapts.com

Fimiani Development Corp. Acquires Willow Tree Plaza in Cookeville, TN

Willow Tree Plaza, Cookeville, TN

Mike Fimiani

BOCA RATON, FL (July 27, 2017) – Fimiani Development Corporation has acquired Willow Tree Plaza in Cookeville, Tenn. from Willow Tree Partners for $4.225 million.

The 110,000 square-foot shopping center, located at 138 Willow Avenue in Cookeville, is anchored by Save A Lot, Harbor Freight Tools, Aaron’s and Family Dollar. Boca Raton, Fla.-based Fimiani Development Corporation plans extensive renovations to Willow Tree Plaza including repainting the center, adding a new roof and repaving the parking lot.

“Willow Tree Plaza’s close proximity to the historic downtown and central business district, Tennessee Tech University and Cookeville Regional Medical Center makes it an appealing location for retailers,” said Mike Fimiani, president of Fimiani Development. “We look forward to renovating the property which will add value not only for our tenants but also for the community.”

Fimiani represented Fimiani Development and Zach Taylor and Jonathan Gerzburg of Marcus & Millichap represented the seller. For more information, visit www.fimiani.com.

Zach Taylor

 Fimiani Development Corporation is a boutique development firm located in downtown Boca Raton, Fla. focused on creating value by redeveloping retail and commercial real estate projects throughout Florida and the southeastern United States.

What differentiates the company from others is its size, experience, focus and attention to detail. Services include acquisition and redevelopment of existing shopping centers; consultation in developing third-party leasing programs; performing third-party leasing assignments of retail centers; and receivership and workout assignments of retail, commercial and residential real estate projects.

For more information visit www.fimiani.com.

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

Samantha Van Nuys

Pierson Grant Public Relations

6301 Northwest 5th Way, Suite 2600

Fort Lauderdale, FL  33309

P: (954) 776-1999  ext. 115

F: (954) 776-0290

svannuys@piersongrant.com

www.piersongrant.com

                          

High Impact Digital

J.P. Morgan purchases Denver-area ultra-luxury apartment in $127.4 million sale closed by HFF

Kent Place Residences, Cherry Hills Village Area, Englewood, CO

DENVER, CO  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $127.4 million sale of Kent Place Residences, a 300-unit, ultra-luxury, Class A apartment community located in the Cherry Hills Village area of Englewood, Colorado.

Anna Stevens

HFF marketed the asset on behalf of the seller, Forum Real Estate Group.  Institutional investors advised by J.P. Morgan Asset Management purchased the asset and assumed the existing financing at closing.

The HFF investment sales team representing the seller was led by managing director Jordan Robbins and directors Jeff Haag and Anna Stevens.

Completed in 2015, Kent Place Residences consists of three four- or six-story buildings offering a mix of one-, two- and three-bedroom units averaging 1,243 square feet, more than 25 percent larger than units at competing properties. 

Jordan Robbins

Apartment homes feature market-leading interior finishes, including oversized windows, vinyl wood-plank flooring, designer lighting, five-piece bath, custom cabinetry, granite countertops with under mount sinks, walk-in closets, Whirlpool stainless steel appliances, full-size washers and dryers, and large private balconies or patios.

 Additionally, the property contains the only for-rent penthouses in the highly-affluent southeast Denver area.  Penthouses range between 2,375 and 2,779 square feet and contain upgraded amenities, including Electrolux appliances with gas ranges, quartz countertops, hardwood flooring, glass tile backsplash, private garages, floor-to-ceiling windows with stunning views, gas fireplaces and access to the roof-top lounge.

The 5.85-acre community is located adjacent to the Cherry Hills Village neighborhood, one of the most affluent areas in the Rocky Mountain region and the highest demographic location within Denver.

 Kent Place Residences is positioned on the corner of East Hampden Avenue and University Boulevard and is included within a mixed-use development equipped with approximately 34,000 square feet of retail anchored by a King Soopers Fresh Fare grocer.

 Additionally, in addition to prominent medical districts, residents can easily access four of Denver’s premier employment centers, Denver Tech Center, Southeast Business corridor, downtown Denver and Cherry Creek, along with premium retail at Cherry Creek Shopping Center, Streets at Southglenn and South Pearl Street.

Jeff Haag

“Kent Place is one of the most unique multifamily properties in all of Denver, with extremely large units to fit the area’s most prominent demographic,” Robbins said.  “Additionally, Forum Real Estate Group did an outstanding job with ‘over-amenitizing’ the property to genuinely fit the resident profile. This is truly an irreplaceable asset within the market.”

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 | hfflp.com

ohennessey@hfflp.com

www.jpmorganassetmanagement.com.

http://www.forumre.com.

HFF closes sale of 4-property multi-housing portfolio in Central Pennsylvania

  

 

Greenview Terrace Apartments, Lancaster, PA

Mark Thomson

PHILADELPHIA, PA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of a four-property, value-add multi-housing portfolio totaling 412 units in Lancaster County, Pennsylvania.

HFF marketed the asset on behalf of the seller, Equus Capital Partners, Ltd.  High Real Estate Group purchased the offering free and clear of debt.

The portfolio comprises Greenview Terrace (112 units) and Barrcrest Manor (85 units) in Lancaster; Village Green in Elizabethtown (128 units); and Lebanon Court in Lebanon (87 units). 

The portfolio is centrally located in a prime distribution corridor and offers residents access to all major destinations in Pennsylvania via highways, including Interstate 76 (Pennsylvania Turnpike) and U.S. Routes 322, 422 and 283.

The HFF investment sales team representing the seller was led by senior managing director Mark Thomson and directors Carl Fiebig and Francis Coyne as well as senior managing director Jose Cruz and executive managing director Matthew Lawton.

Carl Fiebig

“While we have always seen a high demand for ‘bread and butter’ value-add garden apartments, there has been a flood of equity into the space this year,” Thomson said.  “With a lack of velocity in the four counties surrounding Philadelphia, many investors have expanded their interest into Central Pennsylvania and Delaware.”

“This portfolio offered a nice diversity of size, ranging from 85 to 128 units, and vintage, with assets from the 1960's, 1970's and 1990's,” Thomson added.  “We conducted 33 tours of this portfolio, which resulted in offers from 15 different companies.”

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 | hfflp.com

ohennessey@hfflp.com

www.equuspartners.com.

Flix Brewhouse Cinema Eatery Coming to Peoria, AZ

Flix Brewhouse, Lake PLeasant Parkway and Happy Valley Road, Peoria, AZ

 Peoria, AZ -- Flix Brewhouse™, the world’s only combination first-run cinema and dine-in microbrewery, will become the entertainment anchor at the southeast corner of Lake Pleasant Parkway and Happy Valley Road in Peoria, Arizona.

The Peoria location will be Central Texas-based Flix Brewhouse’s second Arizona location. Its first is in the Overstreet development in downtown Chandler, Arizona – part of the cinema-dining chain’saggressive expansion throughout the United States.

Tyson Switzenberg

JLL’s Senior Vice President and Phoenix Retail Brokerage Lead Tyson Switzenberg represented Flix Brewhouse in the lease transaction. The project landlord is Thompson Thrift Retail Group.

“Flix Brewhouse mixes the Valley’s burgeoning craft beer scene with a best-in-class cinema dining experience,” said Switzenberg. “We are incredibly excited to bring this unique concept to Peoria and believe it will compliment Thompson Thrift’s development as a new entertainment anchor for the Northwest Valley.”

The Peoria Flix Brewhouse will total approximately 39,000 square feet and feature nine (9) auditoriums equipped with parabolic screens, state-of-the-industry digital audio and video (including immersive sound), extra-wide plush seating, and an innovative gliding tabletop console.

 Viewers will enjoy unobtrusive, in-theater service from a complete cooked-to-order menu that will be tailored to local tastes, as well as a broad selection of soft drinks and adult  beverages, including a dozen signature beers brewed on premises.

In addition to showing the latest Hollywood blockbusters, Flix Brewhouse offers a wide variety of special features and events, including a Pro-Am homebrew competition, Brewmaster dinners, on-site Beer 101 brewing and tasting seminars, and numerous themed classic film series and interactive experiences such as dinner comedies, singalongs, and Saturday morning pajama parties.

Flix also celebrates unique food and craft beer creations with a range of ongoing dining and tasting events, showcasing beer from other craft breweries as well as its own.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

ATTOM Data Solutions Finds Average Homeownership Tenure Increases to New Record High of 8.05 Years;

 

Daren Blomquist

IRVINE, CA,  July 27, 2017 — ATTOM Data Solutions, curator of the nation’s largest multi-sourced property database, today released its Q2 2017 U.S. Home Sales Report, which shows that homeowners who sold in the second quarter realized an average price gain of $51,000 since purchase — the highest average price gain for home sellers since Q2 2007, when it was $57,000.

The average home seller price gain of $51,000 in Q2 2017 represented an average return of 26 percent on the previous purchase price of the home, the highest average home seller return since Q3 2007, when it was 27 percent.

The report also shows that homeowners who sold in the second quarter had owned an average of 8.05 years, up from 7.85 years in the previous quarter and up from 7.59 years in Q2 2016 to the longest average homeownership tenure as far back as data is available, Q1 2000.

“Potential home sellers in today’s market are caught in a Catch-22. While it’s the most profitable time to sell in a decade, it’s also extremely difficult to find another home to purchase, which is helping to keep homeowners in their homes longer before selling,” said Daren Blomquist, senior vice president at ATTOM Data Solutions.

 “And the market is becoming even more competitive, with the share of cash buyers in the second quarter increasing annually for the first time in four years.”

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

Jennifer von Pohlmann

949.502.8300, ext. 139

jennifer.vonpohlmann@attomdata.com

The Habitat Company Adds Three Affordable Housing Properties to Chicago-Area Portfolio

  

 

Eastwood Gardens Apartments, Englewood Neighborhood, Chicago, IL

 CHICAGO, IL – Chicago-based The Habitat Company, a leading U.S. multifamily developer and property manager, announced it has acquired and assumed property management of an affordable rental development in Chicago’s Englewood neighborhood and also assumed management of two additional affordable housing communities in the Chicago area.

The three properties, which total 500 residences in Chicago and suburban Chicago Ridge, will increase Habitat’s affordable housing portfolio to more than 10,000 units.

“Ensuring families have access to housing they can afford is as much a part of The Habitat Company’s core business as its legacy,” said Matt Fiascone, president of The Habitat Company. “These three projects are a perfect fit for Habitat’s portfolio, and will further our commitment to preserving quality affordable housing opportunities so people can continue living in these Chicago communities they’ve called home for years.”

Matt Fiascone

The three new properties are:

Eastwood Garden Apartments, 6531 S. Lowe Ave., 188 one-, two-, and three-bedroom rental apartments in the Englewood neighborhood (Under Habitat ownership and management)

Indian Trails Apartments, 251 E. 121st Place, 221 E. 121st Place and 12141 S. Indiana Ave.,180 one- and two-bedroom rental apartments in the Roseland area. (Under Habitat management)

Ridge Garden Apartments, 10010-10040 S. Sayre Ave., 132 one-bedroom rental apartments in Chicago Ridge. (Under Habitat management)

“Not only are these three communities in neighborhoods that need well-managed and quality affordable housing, which was certainly a draw for us, but we also saw potential in these assets and will be announcing improvements in the coming months,” said Fiascone.

“At Habitat, we’re highly vested in our diverse portfolio and the well-being of our residents, so we’re excited to bring the same quality of service to these properties – as we do to our luxury and market-rate communities.”

  

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

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

Rebecca Boykin, rboykin@taylorjohnson.com, (312) 267-4523

www.Habitat.com.