HFF announces $47.37 Million in joint venture equity for multi-housing development in Portland, OR

100 Columbia Apartments Rendering, Metro Portland, OR

Ira Virden

PORTLAND, OR, May 16, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces $47.37 million in joint venture equity for the development of 100 Columbia, a 347-unit, Class A+ high-rise multi-housing community in the Portland CBD.

Working on behalf of developer, Alamo Manhattan, the HFF team arranged a joint venture equity partnership with Diamond Realty Investments.

100 Columbia is located on a 0.92-acre site that spans the block bound by SW Clay Street, SW 1^st Avenue, SW Columbia Street and SW 2^nd Avenue. 

The site, which has a WalkScore® of 93, will support what will be the nearest high-rise residential building to the Willamette River in the CBD. 

 The site is also one block from Tom McCall Waterfront Park to the east and Keller Auditorium to the west, and is within three blocks of the CBD’s core job center that is home to more than two million square feet of high-rise office.

Mark Erland

Due for completion in 2020, 100 Columbia will include a mix of studio, one- and two-bedroom ultra-luxury units averaging 801 square feet. 

The 20-story development will feature premium interior finishes and community amenities, including an expansive 15,000-square-foot, sixth-floor amenity terrace and a 20th-floor rooftop resident lounge, which will open onto an observation deck offering unobstructed views of the downtown skyline, Mount Hood and the river. 

The property will also include a 16^thfloor rooftop terrace.  In addition to the multifamily component, 100 Columbia will incorporate nearly 15,000 square feet of ground-floor retail, which will provide immediate convenience for residents and office employees in the surrounding area.

Matthew Benson

The HFF equity placement team representing the developer included senior managing director Ira Virden, senior director Mark Erland and director Matt Benson.

For more information, please contact:

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

www.alamomanhattan.com.

www.diamondrealtyinvestments.com

HFF announces sale of Super Stop & Shop-anchored retail center in Rhode Island

James Koury

BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of a 60,488-square-foot Super Stop & Shop supermarket-anchored shopping center in Richmond, Rhode Island. 

The HFF team marketed the property on behalf of the seller, and procured the institutional buyer.

The property comprises a Super Stop & Shop grocery store, Super Stop & Shop Fuel Center and a 5,000-square-foot Anytime Fitness.  

Located at 22 Kingstown Road, the shopping center is directly at the Interstate 95 and Route 138 interchange, which serves the upscale communities of Narragansett, Block Island and Charlestown. 

There are more than 58,000 residents within the property’s 10-mile trade area with an average household income of nearly $100,000.   

The HFF investment advisory team representing the seller consisted of senior managing director James Koury.

According to Koury, “This represents an attractive opportunity for Agree as Stop & Shop not only has a commanding market share in the state of RI, but there isn’t another grocer to compete with their Richmond store within a 15-mile radius.”

 For more information, please contact:

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

George Smith Partners Secures Rapid $41 Million Bridge Loan for High-Leverage Acquisition of Office Asset in Silicon Valley, CA

 

Malcolm Davies

SILICON VALLEY, CA – George Smith Partners, one of the nation’s leading commercial real estate capital market advisors, has successfully arranged a high-leverage $41,000,000 bridge loan for the acquisition of a 71,000 square-foot office asset in the Silicon Valley from an institutional seller, according to Malcolm Davies, Principal/Managing Director at George Smith Partners.

“We were able to fulfill this requirement in the required 60-day period available on behalf of Vahe Tashjian of Dutchints Development, the buyer, for whom this acquisition is the largest to date in his portfolio,” Davies explained.

Evan Kinne

“Our entrepreneurial approach makes us the right partner for entrepreneurs, as I myself have been a developer in the past and am clear on the need to meet multiple financing requirements within a specified timeline.”

“In this case, George Smith Partners was able to secure financing for 24-months at an 85 percent loan-to-purchase price, in order to assure accretive equity returns for our client,” Evan Kinne, Vice President at George Smith Partners added. 

“This required our team to canvass the market with multiple potential capital stacks, including mezzanine and preferred equity for the appropriate lender who not only understood the market, but also recognized the strength of this asset within the market.”

Zachary Streit

The financing was arranged by George Smith Partners’ Davies, along with Vice President Evan Kinne, Vice President Zachary Streit, Assistant Vice President Alexander Rossinsky, and Assistant Vice President Rachael Lewis.

Tashjian notes that George Smith Partners was in application in approximately three weeks after getting the assignment and closed within the short escrow period.

“The team at George Smith Partners was able to assist me in creating a smooth acquisition process with a very sophisticated seller, which has strengthened my position in the industry as our firm continues to seek larger assets from this and other institutional owners,” Tashjian added.

George Smith Partners secured the loan at a rate of LIBOR + 5.62 percent. The non-recourse loan is interest-only for the 24-month term.

Rachel Lewis

 Celebrating 25 years in business, George Smith Partners is a leading national provider of capital market advisory services to the commercial real estate industry.

The firm specializes in arranging financing for commercial and multifamily properties, including acquisition, construction, bridge and permanent loans, as well as mezzanine loans, highly leveraged participating loans and joint venture equity.  

The company has arranged more than $44 billion in financing since its inception. Additional information about George Smith Partners is available at www.GSPartners.com.

For more information, please contact:

Lindsay Mackay/Jenn Quader

Brower Group

(949) 955-7940

lmackay@brower-group.com