HFF announces the sale and financing of specialty retail center in Roswell, GA

Connexion Retail Center, Roswell, GA

Jim Hamilton

                                                                    ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale and acquisition financing for Connexion, a 106,403-square-foot, internet-resistant specialty retail center in the city of Roswell, an affluent submarket of Atlanta, Georgia.

The HFF team marketed the properties on behalf of the seller, Hawthorne Real Estate Partners.  DNA Partners purchased the assets free and clear of existing debt. 

 Additionally, the HFF team worked on behalf of the new owner to place the five-year, non-recourse, fixed-rate acquisition loan with a global bank.  HFF will service the securitized loan.

The property is located approximately 25 miles north of downtown Atlanta and is less than one mile from GA-400, one of Atlanta’s major north-south thoroughfares that connects the northern suburbs to Atlanta’s most prominent office markets. 

Brad Buchanan

The property underwent a multi-million-dollar renovation over the last several years and boasts a well-curated rent roll with a variety of everyday uses, including restaurants, a brewery, fitness, fine furnishings, veterinary clinic, pharmacy and other service-oriented uses.

The HFF investment advisory team representing the seller included senior managing director Jim Hamilton, directors Brad Buchanan and Michael Allison and associate Shea Petrick.

The HFF debt placement team representing the new owner consisted of managing director Chip Sykes and associate Libby Malloy.

Libby Malloy

Hawthorne Retail Partners acquires and proactively repositions underperforming retail properties in the major metropolitan areas of the Southeast.

DNA Partners acquires and manages commercial properties in select markets with strong demographics and economic drivers. Since its inception in 2002, DNA has purchased over 3.2 million square feet. 

Chip Sykes

The company’s criterion includes high growth markets, below market rents or expansion potential, strong sales, significant linear frontage for maximum visibility and reasonable potential for capital appreciation through management and leasing opportunities.

  Learn more athttp://www.dnapartners.com.  

CONTACTS:

JIM HAMILTON

GA Lic. #270038

HFF Senior Managing Director

(404) 832-8460

jhamilton@hfflp.com

BRAD BUCHANAN

HFF Director

(404) 832-8460

bbuchanan@hfflp.com

CHIP SYKES

HFF Managing Director

(404) 832-8460

csykes@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

HFF announces $43 million sale of 12-story apartment property in Fairview, NJ

The Fairview Apartments, 371 Bergen Boulevard,  Fairview,
Bergen County, NJ

Jose Cruz

FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $43 million sale of The Fairview, a 12-story, Class A apartment property in Fairview, Bergen County, New Jersey.

The HFF team marketed the property exclusively on behalf of seller, Roizman Development Inc.  J.P. Management purchased the property free and clear of existing debt.

The Fairview is located at 371 Bergen Boulevard within the prestigious Bergen County Hudson Waterfront submarket, which provides commuters accessibility into Manhattan via a variety of transportation options. 

The property consists of a diverse mix of 146 market-rate one-, two- and three-bedroom units averaging 991 square feet.  After a full renovation and repositioning in 2017, residences are equipped with in-unit washers and dryers, stainless steel appliances, quartzite countertops, hardwood flooring and balconies in select units. 

Stephen Simonelli

The property also offers a swimming pool, fitness center, covered parking, controlled access and views of the New York City skyline.

The HFF investment advisory team representing the seller included Jose Cruz, Stephen Simonelli, Kevin O’Hearn, Michael Oliver, Jordan Avanzato and Ryan Robertson.

“The property’s location in the heart of Fairview in Bergen County helped to drive investor interest while the recent renovation and upside in rents pushed pricing,” Cruz stated.

HFF and Holliday GP Corp. ("HFF") are licensed New Jersey real estate brokers.

Roizman & Companies develops successful real estate initiatives by integrating a visionary development company, Roizman Development Inc., with a hands-on management company, S.H.N.I.R. Apartment Management Corp. 

Kevin O'Hearn

 The highly skilled professionals in these two divisions work together to formulate a unique perspective on how development initiative should evolve, from site selection through development, construction, lease-up and operation.

  Roizman believes that the business of real estate is also the business of people.  Its developments represent a long-term commitment to its residents and their communities. 

 For more information, visit http://www.roizman.com/.

CONTACTS:

JOSE CRUZ

NJ Lic. #8743725

HFF Senior Managing Director

Michael Oliver

(973) 549-2000

jcruz@hfflp.com

STEPHEN SIMONELLI

NJ Lic. #0456983

HFF Senior Director

(973) 549-2000

ssimonelli@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

Admiral Capital Group and Pollack Shores Real Estate Group Form Partnership to Acquire The Factory at Garco in Charleston, SC

The Factory at Garco, day photo, North Charleston, SC

Steven Shores

ATLANTA, GA – Pollack Shores Real Estate Group (Pollack Shores) and Admiral Capital Group (Admiral) announced they have formed a partnership to acquire The Factory at Garco, a 271-unit Class A apartment community in North Charleston, South Carolina.

 The acquisition marks Pollack Shores’ expansion and Admiral’s first investment in the Charleston market.

Just opened last year and surrounded by an array of breweries, restaurants and music venues in the popular Park Circle neighborhood, The Factory at Garco has quickly emerged as one of the area’s most desirable living destinations in Charleston’s upper peninsula.

Pollack Shores and Admiral plan to invest approximately $1.1 million in renovations and amenity improvements over a two-year period. Apartment unit upgrades will include the addition of stainless-steel appliances, high-end lighting and plumbing fixtures, and a subway tile backsplash. 

Dan Bassichis

“Charleston has strong underlying fundamentals and has been a target market for Admiral for a few years due to the diversified economy, robust population and job growth and an overall appeal to millennials and others looking for reasonable cost of living and a balanced lifestyle,” said Dan Bassichis, Co-Founder and Managing Partner at Admiral.

“We are very excited to enter the Charleston market with such a high-quality partner in Pollack Shores, a group that shares our philosophy of building a strong business while giving back to local communities.”

The Factory at Garco features a luxurious saltwater pool with cabanas for residents to relax and soak up the sun. The community also provides its adventurous residents with storage for boats, kayaks, paddleboards and other water sports gear.

Brendan Whalen

Other premier amenities include a state-of-the-art fitness center, a spacious dog spa where residents can pamper their pets night or day, and a full-service resident clubroom with kitchen.

In addition to its advantageous location in Park Circle, residents are also within close proximity to several nearby parks and walking trails. Matrix Residential, the property management division of Pollack Shores, will oversee day-to-day operations at the community.

Known for its unique approach to creating exceptional resident experiences through superior marketing and management, Matrix will activate The Factory at Garco by providing an onsite events specialist who will plan and execute a customized events calendar for residents.

“We look forward to working with Admiral on this exciting project,” said Steven Shores, CEO and President of Pollack Shores. “The Factory at Garco has all of the right ingredients to fuel significant revenue growth and is an excellent addition to our growing portfolio in the Charleston area.

David Robinson

"The project’s convenient access to retail, dining and entertainment, as well as parks and urban trails, align with the demands of today’s Class A renters.

"The acquisition provides an opportunity to reposition a core-plus property in a fast-growing submarket, and we look forward to enhancing the experience for our residents.”

Situated near two interstate highways and a short drive from the Charleston International Airport and Downtown Charleston, the community is also near major employers such as The Boeing Company, Blackbaud, Inc., Joint Base Charleston and the Medical University of South Carolina.

“North Charleston is on the move,” said Brendan Whalen, Vice President of Acquisitions at Pollack Shores. “The Park Circle neighborhood has undergone a renaissance in the past few years, and the new food hall that will open just down the street at the old Garco Mill warehouse will be a major draw that triggers additional growth in the area. We anticipate significant leasing momentum at The Factory at Garco in the months to come.”

The Factory at Garco, night photo, North Charleston, SC

“We are thrilled to make our first investment in Charleston, a city with strong military roots, which resonates with me personally,” said David Robinson, Admiral Co-Founder. “In particular, we find the revitalization of the North Charleston area to be exciting and we look forward to supporting local community efforts.”

Earlier this year, Pollack Shores announced plans to develop The Merchant, a luxury apartment community located in Charleston’s North Morrison neighborhood. The Merchant is expected to open in July 2019.

The Factory at Garco, pool

Known for acquiring, developing, managing and investing in best-in-class multifamily communities, Pollack Shores is currently active in Atlanta, Orlando, Tampa, Jacksonville, South Florida, Raleigh, Charlotte, Charleston, Dallas, Austin, Nashville and Richmond.

Matrix Residential has nearly 26,000 units under management across eight states. This acquisition represents Admiral’s first investment in Charleston bringing its units currently under ownership to over 12,000.

Contact:

Nick Banaszak

The Wilbert Group

256-457-5384 (C)

nbanaszak@thewilbertgroup.com

www.admiralcapitalgroup.com.

pollackshores.com/.

matrixresidential.com/.

HFF announces $73.92 million sale of and acquisition financing for Weston Corners in Cary, NC

Weston Corners, Cary, NC

Justin Good

CHARLOTTE, NC –– HFF announces the $73.92 million sale of and acquisition financing for Weston Corners, a newly built, 308-unit, mid-rise multi-housing community in Cary, North Carolina.

The HFF team marketed the property on behalf of the seller, Woodfield Development, and procured the buyer, Lantower Residential. 

Additionally, HFF’s debt placement team worked exclusively on the new owner’s behalf to arrange an acquisition loan through New York Life Real Estate Investors.

Completed this year, Weston Corners features a mix of studio, one-, two- and three-bedroom units with high-end amenities, including 10-foot ceilings, stainless steel appliances, quartz countertops, designer kitchen cabinetry and lighting, walk-in custom closets, full-sized washers and dryers, hardwood-style flooring and balconies. 

Jeff Glenn

Common area amenities include a pool with sundeck and outdoor kitchen, sky terrace, fitness center with yoga room, massage room, dog spa, clubroom with kitchen and game room, conference room and Wi-Fi lounge, outdoor courtyards and direct access to the Indian Creek Greenway and Trailhead. 

Situated just south of Crabtree Lake at 6000 Elevate Circle, the property is central to Research Triangle Park, Raleigh-Durham International Airport, North Carolina State University via nearby Interstate 40 as well as downtown Raleigh, Durham and Chapel Hill.

The HFF investment advisory team representing Woodfield Development included managing directors Justin Good and Jeff Glenn, senior director Allan Lynch and director Caylor Mark.

Allan Lynch

HFF’s debt placement team representing Lantower Residential consisted of senior directors Jamie Leachman and Roger Edwards.

Holliday GP Corp. ("HFF"), a North Carolina licensed real estate broker.

Woodfield Development is a premier developer and operator of Class A multifamily communities in the Mid-Atlantic and southeastern United States. 

The partners in Woodfield share a depth of experience in development, asset management and real estate capital markets. 

Since the formation of the company in 2005, Woodfield has completed 35 communities, has eight communities under construction and 13 projects at various stages of entitlement and design. 

Caylor Mark

 From the first development and each one thereafter, Woodfield Development’s singular goal has been to deliver well-conceived, thoughtfully designed, market-supported projects that hit the mark and then some. 

With a track record that stands alone, Woodfield Development sets out to assemble the best team of designers, consultants, architects, contractors and capital sources – every project, every time.

Lantower Residential is a vertically integrated real estate company and subsidiary of H&R Reit specializing in the acquisition and management of multifamily communities in the U.S. applying its proven track record to the acquisition, financing, management and positioning of each individual deal.

Jamie Leachman

New York Life Real Estate Investors is a division of NYL Investors LLC, a wholly owned subsidiary of New York Life Insurance Company.

 Please visit New York Life Real Estate Investors’ website at http://www.newyorklife.com/realestateinvestors for more information.

CONTACTS:

JUSTIN GOOD

NC Lic. #261333

HFF Managing Director

(919) 573-4642

jgood@hfflp.com

JAMIE LEACHMAN

HFF Senior Director

(202) 533-2524

jleachman@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3403

ohennessey@hfflp.com