HFF announces $15M financing for luxury multi-housing building in Medford, MA

Martha Nay

 

Adam Dunn

BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $15 million construction take-out, permanent financing for Sphere, a brand-new, 42-unit luxury multi-housing building in Medford, Massachusetts.

The HFF team worked on behalf of the borrower, Dark Horse Capital Partners, to secure the seven-year, fixed-rate loan through HarborOne Bank. 

Delivered in July 2017, Sphere features 22 one-bedroom units and 20 two-bedroom units with nine different floorplans located at 640 Boston Avenue in Medford on the Somerville/Medford townline.

Situated at the foot of the future Ball Square Green Line station, the transit-oriented asset offers residents a real neighborhood (Ball Square) with stress-free living, nearby bakeries, retro diners, pubs, neighborhood restaurants and small shops.  

Sphere is within five minutes of the community bike path that links the property to nearby neighborhoods, including Davis Square, Porter Square, and Arlington Center, among others.  Additionally, Interstate 93 is a few blocks from the property providing vehicular access to Boston and the surrounding suburbs. 

The HFF debt placement team representing the borrower was led by director Martha Nay, with support from director Adam Dunn and analyst Sam Campbell.

“Sphere is an exceptional product in a highly desirable, transit-oriented location,” Nay said.  “Ball Square is in the midst of a transformation, and Sphere’s success is a testament to what’s to come. Dark Horse and HarborOne performed flawlessly throughout this very successful transaction, and it has been a pleasure working with both parties toward a strong outcome.”

For more information on this press 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

Shelby G. Smith III Joins Berger Commercial Realty as Senior Property Manager

  

Shelby G. Smith III

FORT LAUDERDALE, FL – Shelby G. Smith III recently joined Berger Commercial Realty/CORFAC International as a senior property manager. A designated Real Property Administrator (RPA) and Certified Property Manager (CPM), he brings more than 35 years of commercial real estate management and leasing experience to the team.

Smith previously served as president of the property management division at The Fitzgerald Group, where he was responsible for overseeing a property management portfolio consisting of 18 retail centers, 23 industrial warehouses and 27 office buildings. 

He has represented a diverse array of notable clients including GE Capital, Guardian Bank, MetLife, NationsBank, Travelers Insurance, Highwoods Properties and Southern Farm Bureau Life Insurance.

“I have known Shelby for a number of years,” said Berger Commercial Realty President Lloyd Berger. “He brings a wealth of experience to our team and will be instrumental in meeting our owners’ objectives.”

Smith is a member of the Building Owners and Managers Association (BOMA) and Institute of Real Estate Management (IREM). He served on BOMA’s government affairs committee and helped to mitigate the impacts of legislation affecting property owners in Broward County. He is a native of South Florida and resides in Fort Lauderdale.

For more information on this press release, please contact:

954-776-1999

Pierson Grant Public Relations

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com

Baird & Warner’s Good Will Network Announces Winners of $120,000 in Donations Supporting Chicagoland Communities

 

Jennifer Alter Warden

  

CHICAGO, IL — Baird & Warner, Chicagoland’s largest locally owned independent residential real estate services company, has revealed the five nonprofits that won a share of $120,000 in grants through its charitable arm –– the Good Will Network –– to further their work providing shelter and supporting services to people at risk of homelessness.

This marks a 20 percent increase in the total donations the Good Will Network provided last year.

The winners of this year’s Good Will Network initiative, called “$24K of Solid Good,” were chosen based on a Baird & Warner social media campaign that asked the public to vote during the month of August. Each winning organization received $24,000.

“Baird & Warner has been an advocate of Chicagoland’s communities since we made our first transaction in 1855,” said Jennifer Alter Warden, chief operating officer and executive vice president of Baird & Warner, who leads the Good Will Network’s efforts.

 “Our people are committed to helping those in need from every walk of life, and what these organizations do day-to-day is beyond inspiring. We want to honor their efforts in providing shelter with our contribution, as it represents the core values of the Good Will Network.”

Baird & Warner’s broker associates, loan officers and employees nominated the 10 “$24K of Solid Good” finalists – each of which help serve a variety of community needs with a focus on housing, particularly for women and children. The public then voted and the five organizations with the most votes won. A video featuring the winning organizations receiving their $24,000 can be viewed here.

The winning Chicagoland organizations are:

BEDS Plus Care Inc.

Housing Opportunities for Women (HOW)

Marklund

  

 For more information on this press release, please contact:

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

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

www.BairdWarner.com.

HFF announces $55M financing for 213-unit apartment building in Fairfax, Virginia

Sue Carras

 WASHINGTON, D.C.-– Holliday Fenoglio Fowler, L.P. (HFF) announces $55 million in financing for Modera Fairfax Ridge, a 213-unit, best-in-class apartment building in Fairfax, Virginia.   

The HFF team worked exclusively on behalf of the borrower, a joint venture between Mill Creek Residential Trust LLC and The Olayan Group, to secure the seven-year, floating-rate loan with ING Capital LLC.  Loan proceeds were used to retire the existing construction financing.

Modera Fairfax Ridge is located at 3887 Fairfax Ridge Road just off U.S. Highways 50 and 66, two of Northern Virginia’s main arterial roads traveled by approximately 157,000 vehicles per day. 

The property is near several Fortune 500 companies, The Fair Oaks Mall, Fairfax County Government Center, George Mason University and Inova Fairfax. 

Completed in August 2016, Modera Fairfax Ridge offers a wide range of studio, one- and two-bedroom configurations with luxury features, including kitchen islands, stainless steel appliances, quartz countertops, walk-in closets, in-unit washers and dryers, nine-foot ceilings, private patios or balconies and keyless entry. 

Nicole Brickhouse

Community amenities include a hotel-inspired swimming pool, outdoor fire pit, grilling area, club-quality fitness studio, yoga/Pilates studio, cyber café, gaming and bar area with billiards, business center with conference room and direct-access garage parking.  The property is NAHB Green Building Program-certified and is more than 95 percent leased.

The HFF team representing the borrower included senior managing director Sue Carras, managing director Walter Coker, senior director Brian Crivella and director Nicole Brickhouse.

"HFF is pleased to have been part of such a successful transaction involving such an outstanding sponsor partnership and lender,” Coker said.  “This project represented a great opportunity for the ownership team to take advantage of aggressive financing terms available in today's capital markets for stabilizing multi-housing assets."

 For more information on this press 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

http://www.hfflp.com/

www.olayan.com.

www.MillCreekPlaces.com.