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| Justin Good |
CHARLOTTE, NC – – HFF announces the sale of and joint venture equity for a land site
totaling 48.33 gross acres (approximately 15.75 usable acres) within the Shiloh
Crossing development in Morrisville, North Carolina.
The HFF team marketed the
property on behalf of the seller, Shiloh Morrisville, LLC. Dominion Realty Partners (DRP) purchased the site for
$7.35 million.
Additionally, the HFF team worked on DRP’s
behalf to arrange joint venture equity for the development of a 318-unit
multi-housing community planned for the site.
The planned community,
Residences at Shiloh Crossing, will be situated along Shiloh Glenn Drive and
Lower Shiloh Way at the crossroads of Highway 540 and Highway 54/Chapel Hill
Road in Morrisville.
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| Sarah Godwin |
Due for completion in 2019, the property’s
accessibility to major transit corridors will offer unmatched connectivity to
Raleigh-Durham’s most concentrated employment nodes, including the
R&D-focused Research Triangle Park and surrounding Perimeter Park and
Imperial Center.
The property will consist of six apartment buildings
encompassing a mix of one-, two- and three-bedroom units averaging 915 square
feet. Unit amenities will include nine-foot ceilings, quartz countertops,
ENERGY STAR® appliances, in-unit washers and dryers, walk-in closets, and
balconies or patios.
Community amenities will include a resident
clubhouse with Wi-Fi access, 24-hour fitness center, yoga room, game room,
coffee bar, dog park, open green space for outdoor activities, resort-style
swimming pool with sundeck, grilling area and walking-distance access to nearby
retail and dining. Residences at Shiloh Crossing will be designated by
NAHB’s Green Building Standards.
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| Jeff Glenn |
The HFF investment advisory
team representing Shiloh Morrisville LLC consisted of managing directors Justin
Good and Jeff Glenn, senior director Allan Lynch and director Sarah Godwin.
HFF’s
equity placement team representing DRP consisted of managing director Justin
Good, senior managing director Travis Anderson and senior director Roger
Edwards.
Holliday GP Corp.
("HFF") is a North Carolina licensed real estate broker.
Dominion Realty Partners (DRP) is a full-service
real estate organization providing development, management, leasing,
acquisition and investment services.
Collectively, the DRP team of
professionals brings more than five decades of real estate experience in
delivering high quality, environmentally friendly commercial and residential
real estate transactions throughout the southeastern and Mid-Atlantic United
States.
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| Allan Lynch |
Having completed more than $2.5 billion in real estate
transactions, 3.6 million square feet in office projects and more than 3,500
residential units, the DRP team has the capabilities and experience to
structure complex financial arrangements and partnerships.
In the past 24
months, DRP has developed and acquired more than $600 million in the
Mid-Atlantic and Southeast.
CONTACTS:
JUSTIN GOOD
NC Lic. #261333
HFF Managing Director
(919) 573-4642
OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3500
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