Waterton Acquires 404-Unit Apartment Community in Arlington, VA

The Citizen at Shirlington Village Apartments, Arlington, VA 

CHICAGO, IL (Aug. 22, 2017) – Waterton, a U.S. real estate investor and operator, today announced the acquisition of a 404-unit rental community in Arlington, Va., approximately 3 miles southwest of the Pentagon.

Built in 1992 and formerly known as Windsor at Shirlington Village, the property at 3000 S. Randolph St. is being rebranded as The Citizen at Shirlington Village following Waterton’s acquisition.

Matthew Masinter

Offering a mix of one-, two- and three-bedroom floor plans – 132 units in an eight-story tower and 272 in a low-rise component – the community is located within The Village at Shirlington, a small transit-oriented neighborhood with a host of shopping, dining and entertainment options.

“The Citizen offers the walkable, urban-inspired lifestyle many renters seek in an accessible location close to the Pentagon and jobs throughout the D.C. metro,” said Matthew Masinter, senior vice president of acquisitions at Waterton. “Because the property was developed 25 years ago, it also presented us with an opportunity to add value through strategic improvements that will enhance the marketability of the community.”

On-site amenities at The Citizen include an outdoor pool, grilling stations and five courtyard areas, as well as a resident clubhouse, reservable community room, 7,000-square-foot fitness center and racquetball court.

The Citizen marks Waterton’s fourth multifamily acquisition in 2017.

                                                                                                      

For more information on this news release, please contact:

Gretchen Muller, gmuller@taylorjohnson.com (312) 267-4511

Abe Tekippe, atekippe@taylorjohnson.com (312) 267-4528

www.waterton.com.

www.thecitizenatshirlingtonvillage.com.

(703) 379-4141 

HFF closes sale of and arranges $93.5 million in financing for high-profile mixed-use project in Phoenix, AZ

                                                                                               Photo by Patrick Teng 
High Street Mixed Use Project, Phoenix, AZ

Ryan Gallagher

PHOENIX, AZ –– Holliday Fenoglio Fowler, L.P. (HFF) announced the sale of High Street, a 628,000-square-foot, high-profile mixed-use project containing 99 multi-housing units; 174,705 square feet of retail, dining and entertainment options and 330,369 square feet of office space in Phoenix, Arizona, has closed.

HFF marketed the property on behalf of the seller, City North Associates, LLC, which is a joint venture between a private investment fund managed by Wayzata Investment Partners LLC and ScanlanKemperBard Companies, and procured the buyer, Harbert Management Corporation, which now owns the property in a joint venture with ScanlanKemperBard Companies.

 Additionally, HFF worked on behalf of the new joint venture to secure an acquisition loan through TPG RE Finance Trust.

High Street comprises 24.91 acres located at 5100-5450 East High Street along Loop 101 in northeast Phoenix.  More than 160,000 residents live within a five-mile radius of the project, and the average household income is more than $95,000.

 Completed in 2008, High Street features three- and four-story office and multi-family buildings with ground floor retail plus two parking garages with more than 1,500 spaces total.  Overall occupancy is at 83.7 percent, and major tenants include Sprouts, Kona Grill, La Bocca, Pinspiration, Mellow Mushroom, Blue Martini, Ocean Prime and Modern Margarita. 

CJ Osbrink

The HFF investment sales team was led by senior managing director Ryan Gallagher, managing director CJ Osbrink, senior director Ryan Fitzpatrick and real estate analyst Clark Cashion.

HFF’s debt placement team representing the borrower was led by senior managing directors Jeremy Womack and Tom Wilson.

 For more information on this news release, please contact:

Kristen M. Murphy

Director, Public Relations

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

www.tpg.com.

www.tpgrefinance.com.

www.harbert.net.

HFF announces $17.8M refinancing of Nexus Canyon Park in Bothell, WA

Nexus Canyon Park Research Center, Bothell, WA

Olga Walsh

SAN DIEGO, CA – Aug. 22, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces a $17.8 million refinancing of Nexus Canyon Park Research Center, a 141,982-square-foot life science and flex/R&D building in the Seattle suburb of Bothell, Washington. 

The HFF team worked on behalf of the borrower, San Diego-based Nexus Properties, Inc. to secure the non-recourse, three-year, floating-rate loan through one of its bank relationships. 

The building is located within the Canyon Park Business Center just north of Interstate 405, approximately 15 miles northeast of downtown Seattle.  Situated on 6.96 acres, the two-story property is 37.8 percent leased to Epoch Pharmaceuticals, Qilu Puget Sound Biotherapeutics Corp. and Acucela.

 Having recently undergone a repositioning of approximately half of the building area, the loan facility will provide adequate dollars to finish the lease-up and stabilization of the asset.

Zack Holderman

The HFF debt placement team representing the borrower included senior managing director Tim Wright, senior director Zack Holderman and senior associate Olga Walsh.

“The quality and commitment of Nexus Properties to the asset allowed us to identify a qualified lender to provide a strong non-recourse loan to complete the business plan,” said Holderman.

 Founded in 1979, Nexus Properties, Inc. is a developer of high-quality corporate facilities, biotech laboratories and flex research and development properties throughout California, Washington and other markets.  www.nexusprop.com

For more information on this news release, please contact:

Kristen M. Murphy

Director, Public Relations

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

HFF announces $23.35M refinancing for industrial building in northern New Jersey

  

65 South Industrial Street, Passaic County, Clifton, NJ

 

Jon Mikula

FLORHAM PARK, NJ, Aug. 22, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces a $23.35 million refinancing for a 204,000-square-foot industrial building located at 65 South Industrial Street in the Passaic County community of Clifton, New Jersey.

The HFF team worked on behalf of the borrower, a partnership between Tulfra Real Estate and The Hampshire Companies, to place the 10-year, fixed-rate loan with Citizens Bank.  Loan proceeds will be used to refinance the existing construction financing on the property.

The one-building industrial facility recently received a multimillion dollar renovation that included raising the roof to provide a 27-foot ceiling height, new exterior skin, adding six new loading docks (for a total of 24), refinishing the warehouse floors, installing new lighting and sprinklers, adding new mechanical and electrical systems and fitting out 28,000 square feet of office space.

 The speculative redevelopment project is now fully leased to Damascus Bakeries, which will use the building as a second manufacturing facility that will accommodate the company’s growing production needs and its corporate headquarters.

 Damascus will lease its space for a 15-year term and will also take a 50-percent ownership interest in the borrower entity.  Situated on 11 acres, 65 South Industrial Street is located just off Route 3 less than two miles from the Garden State Parkway and seven miles from the New Jersey Turnpike, providing superior access to the surrounding highways while benefiting from a deep labor pool of more than 630,000 people within a five-mile radius.

 The property is approximately 15 miles from Newark Liberty International Airport and the Port of Newark-Elizabeth.  Additionally, the property is 21.5 miles from Manhattan.

Michael Klein

The HFF team included senior managing director Jon Mikula and managing director Michael Klein.

“Citizens Bank quickly understood the benefits that the property’s extensive highway access, deep labor pool, proximity to New York City and unique building specs would provide the tenant and was able to provide an attractive rate,” Klein said. 

“Tulfra and Hampshire did a fantastic job redeveloping this asset into a modern manufacturing/distribution facility, and we were happy to help them put a long-term loan in place that caps off this spec redevelopment project.”

  To stay connected with The Hampshire Companies and for updates on the latest transactions and news follow the company on Facebook (www.facebook.com/hampshireco), Twitter (@hampshireco), and LinkedIn (www.linkedin.com/company/the-hampshire-companies).

For more information on this news release, please contact:

Kristen M. Murphy

Director, Public Relations

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

www.HampshireRE.com.

http://tulfra.com.