HFF announces $156.2 million financing for Modera Avenir Place in Vienna, VA

Modera Avenir Place, Vienna, VA

 WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P. (HFF) announces $156.2 million in financing for Modera Avenir Place, a best-in-class residential property in Vienna, Virginia.

Nicole Brickhouse

The HFF team worked exclusively on behalf of the borrower, a joint venture between Mill Creek Residential Trust LLC and institutional investors advised by J.P. Morgan Asset Management, to secure the floating-rate loan with MetLife Investment Management.  Loan proceeds were used to retire existing construction financing.

Jennifer Keller

Modera Avenir Place is situated at the intersection of Prosperity Avenue and Gallows Road adjacent to the Shops at Avenir Place and Interstate 66. 

Sue Carras

The transit-oriented community is adjacent to the Dunn Loring-Merrifield Metrorail station (Orange Line) and numerous major thoroughfares that provide accessibility to the entire D.C. metropolitan area. 

 Modera Avenir Place, a grocery-anchored mixed-use development, was completed in two phases in 2013 and 2015.  The community comprises 628 residential apartment homes averaging 882 square feet, 578 of which are market-rate units. 

Jamie Leachman

 The studio, one- and two-bedroom floor plans include state-of-the-art features such as gourmet-inspired kitchens with stainless steel appliances and quartz countertops, central heat and air conditioning, high-end light fixtures, hardwood-style flooring and abundant storage. 

Community amenities include two swimming pools with sun decks, grilling stations, billiards and gaming consoles, and business centers with cyber cafes.  The property includes a ground-floor Harris Teeter, Inova Care Center and Thai by Thai restaurant.

The HFF team representing the borrower included Nicole Brickhouse, Jamie Leachman, Jennifer Keller, Mike Tepedino, Sue Carras, Walter Coker and Brian Crivella.

Mike Tepedino

Mill Creek Residential Trust LLC is a national multifamily company focused on the development, acquisition and operation of apartment communities in targeted markets nationwide. 

The company proactively pursues development, acquisition and construction opportunities through its seasoned team of real estate professionals in 14 offices across the United States. 

Mill Creek is building its portfolio in many of the nation’s most desirable apartment markets in Seattle, Portland, the San Francisco Bay area, Southern California, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Washington, D.C., New Jersey, New York and Boston. 

 As of June 30, 2018, the company’s portfolio comprises 74 communities representing over 20,250 apartment homes that are operating and/or under construction. 

Walter Coker

 For more information, please visit www.MillCreekPlaces.com.

J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. 

With more than $130 billion in assets under management and over 800 professionals (as of June 30, 2018), the firm offers strategies across the alternative investment spectrum, including real estate, private equity and credit, infrastructure, transportation, liquid alternatives, and hedge funds. 

Operating from 23 offices throughout the Americas, Europe and Asia Pacific, its independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client’s specific objectives.

  For more information: www.jpmorganassetmanagement.com.

  

Brian Crivella

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. 

 HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. 

HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).  

For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

CONTACTS:

NICOLE BRICKHOUSE

HFF Director

(202) 533-2500

nbrickhouse@hfflp.com

JAMIE LEACHMAN

HFF Senior Director

(202) 533-2500

jleachman@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

HFF announces $26.65 million refinancing of 245-bed student housing portfolio near University of Southern California

19-Property Student Housing Portfolio near University of South California campus

Greg Brown

 NEWPORT BEACH, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $26.65 million refinancing of a 19-property, 245-bed student housing portfolio near the campus of The University of Southern California (USC) in Los Angeles.

The HFF team worked as an exclusive advisor to the borrower, Mosaic Investment Partners, LLC, a fully integrated student housing operator based in Los Angeles, to secure the five-year, fixed-rate loan through a national bank. 

The portfolio is located less than a half of a mile north and west of USC’s campus within walking distance to all of the university’s educational centers and recreational facilities. 

 Additionally, the properties are located close to USC Village, which boasts a Trader Joe’s grocery store, Target and several fast-casual restaurants, in addition to academic space. 

The 19 properties total 81,374 square feet and are fully leased to undergraduate and graduate students. 

AJ Manas

The HFF debt placement team representing the borrower consisted of senior director Greg Brown and associate AJ Manas.

“We’re very grateful for HFF’s exceptional advice, guidance and overall results during this process,” George Alva of Mosaic commented.  “Thanks to their efforts we now have a lender who understands our property portfolio, and as a result, structured our debt facility to truly address our current needs and future growth plans.”

Holliday GP Corp. ("HFF") is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

Mosaic Student Communities is a licensed and fully-insured property management company and California corporation, that manages over 60 properties and 725 student residents for Mosaic Investment Partners as well as for third-party clients. 

George Alva

 Mosaic Student Communities has a best-in-market leasing department and is considered a leading provider of off-campus student housing at USC.

Mosaic Investment Partners is the entity that executes, directs and manages the property acquisitions, debt and equity financings, and renovation and construction activity.

Learn more at www.livewithmosaic.com.

CONTACTS:

GREG BROWN

CA Lic. #01335204

HFF Senior Director

(949) 253-8800

gbrown@hfflp.com

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

HFF announces full capital stack financing for Class A office development within Raleigh’s North Hills

Rendering of planned Tower IV Offices,
 Raleigh, NC

Travis Anderson

CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announces debt and equity financing for Tower IV, a 326,625-square-foot, Class A office tower to be built in Raleigh, North Carolina.

The HFF team worked on behalf of the borrower, Kane Realty Corporation, in a joint venture partnership with Lionstone Investments, to secure the construction loan through Bank OZK. 

Currently under construction and due for completion in 2020, Tower IV will be a best-in-class, 18-story tower with 8,234 square feet of ground floor retail as well as an eight-story, 880-space parking deck.

The 326,625 square feet of office space located throughout 12 floors will feature typical floorplates of 30,014 square feet and is already considerably preleased. 

Roger Edwards

The project is located within North Hills, a flourishing development in midtown Raleigh that offers a unique combination of places to live, work, shop, play and stay, and is easily accessible from Interstate 440 as a regional destination. 

Additionally, it is a short drive from the Triangle area’s other demand drivers, including the Research Triangle Park, Cary, Chapel Hill, downtown Raleigh and Durham.

The HFF debt placement team representing the borrower included senior managing director Travis Anderson, senior director Roger Edwards, and associate John Gavigan.

Kane Realty Corporation is a vertically integrated commercial real estate firm providing development, construction management, leasing, and property management services. 

Founded in 1978, Kane Realty is the preeminent mixed-use developer in North Carolina, developing over 6.5 million square feet since inception. 

Kane’s signature mixed-use property at North Hills (Raleigh, North Carolina), the first true mixed-use property in the region, resulted in the emergence of Raleigh’s Midtown district.

John Gavignan

Lionstone Investments is a data-analytics driven real estate investment firm that conceptualizes, analyzes, and executes national investment strategies using proprietary algorithms and advanced analytics to understand the changing ways people in America want to live and work – Places for Productive People®.

  Lionstone Investments is a registered investment adviser subsidiary of Columbia Management Investment Advisers, LLC.

  For more information, please visit www.lionstoneinvestments.com.

CONTACTS:

TRAVIS ANDERSON

HFF Senior Managing Director

(704) 526-2800

tanderson@hfflp.com

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

Ackerman & Co. Completes 60,000 SF Lease with ABT Power Management at Stone Mountain Industrial Park in metro Atlanta, GA

1607 Mountain Industrial Boulevard, Stone Mountain Industrial Park, Atlanta, GA

Jimmy Stevens

ATLANTA, GA – Ackerman & Co. has signed a 60,000-square-foot lease with ABT Power Management Inc. at its Stone Mountain Industrial Park in metro Atlanta’s Tucker/Stone Mountain submarket.

The Greensboro, N.C.-based company – which provides battery and energy systems for forklift fleets, mission-critical facilities and telecommunications applications – will establish a distribution center in the warehouse facility at 1607 Mountain Industrial Boulevard, located northeast of downtown Atlanta. It is ABT’s second distribution facility in metro Atlanta.

Brett Buckner

The long-term lease took effect October 1. Ackerman & Co. industrial brokers Brett Buckner, Jimmy Stevens and Major Martin represented Ackerman in the lease. Robert Aaron of NAI Brannen Goddard represented the tenant.

Ackerman & Co. has recently closed three leases totaling 274,800 at the park, bringing total occupancy to 91 percent, up from 84 percent at the time of acquisition.

Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast. 

Major Martin

The company, founded in 1967, retains an expert team of more than 100 real estate professionals.

To date, Ackerman & Co. has developed and acquired 37 million square feet of office, medical, industrial, retail and mixed-use space, has 8 million square feet under management, and maintains an investment portfolio valued at $1 billion.

Robert Aaron

 
For more information, visit www.ackermanco.com

CONTACTS:

Steve Webb 
swebb@ACKERMANCO.NET