Done Deals: Jun 4, 2019

Tuesday, June 4, 2019

HFF arranges $220 million financing for 1144 15th Street in Denver, CO

1144 15^th Street, a 40-story, 673,852-SF, trophy
Class AA office building in Denver, CO

DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged $220 million in financing for 1144 15^th Street, a 673,852-square-foot, trophy Class AA office building in Denver, Colorado.

The HFF team worked on behalf of the borrower, Hines and their equity partner, to secure a 17-year, fixed-rate permanent loan through a national life insurance company. HFF arranged construction financing for the project on behalf of Hines in 2015.

Eric Tupler

Completed in 2018, the 40-story core office tower comprises 673,852 square feet with 5,770 square feet of ground level retail and 13 stories of parking for a total of 858 parking spaces.

The property represents the first high-rise office development in more than 30 years in Denver and has transformed the Denver skyline.

Tenants at the stabilized property include Gates Industrial Corporation, Optiv Security Inc. and Faegre Baker Daniels.

Located in Denver’s Central Business District within the Midtown West micro-market, 1144 15^th Street is convenient to the Convention Center Station light rail stop and the Free MallRide on the 16^th Street Mall, providing access throughout the CBD.

Additionally, the property is proximate to the Colorado Convention Center, the Denver Center for Performing Arts, Larimer Square and the 16^th Street Pedestrian Mall.

Jay Despard

The HFF debt placement team representing the borrower included senior managing director Eric Tupler.

“Our partnership set out with a long-range view in developing and owning this asset,” Jay Despard, Senior Managing Director for Hines in Colorado, said.

“The permanent financing we recently obtained is a testament to the building’s position in the marketplace and to the core nature of the finished product and tenant roster. We are pleased with the outcome on multiple levels.”

CONTACTS:

ERIC TUPLER

HFF Senior Managing Director

(303) 515-8000

etupler@hfflp.com

KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990
krmurphy@hfflp.com

hines.com

Fogelman Properties Completes Third Acquisition of the Year; 2019 Investment Activity Reaches 1,665 Units Totaling $184 Million

Ashford East Village, a 371-unit multifamily community located in East Atlanta Village, Atlanta, GA

ATLANTA, GA, JUNE 4, 2019 -- Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, is pleased to announce the acquisition of Ashford East Village, a 371-unit multifamily community located in East Atlanta Village.

The community is 95% occupied and offers one, two and three-bedroom apartment homes ranging from $900 to $1,375 per month.

The newly-acquired property is expected to undergo a rebranding and a mix of amenity area improvements. In connection with the investment, enhancements will emphasize a modern fitness facility and the continuation of interior unit renovations including the installation of quartz countertops, vinyl plank flooring and upgraded plumbing fixtures.

Mike Aiken

Fogelman acquired Ashford East Village through a joint venture with New York-based DRA Advisors.

Since 2003, the Fogelman-DRA partnership has acquired 28 multifamily communities totaling 9,150 apartment homes, with an aggregate value of more than $915 million.

“Investment and revitalization continues to accelerate in the infill East Atlanta neighborhoods as residents are drawn by a mix of urban amenities such as top rated restaurants and entertainment options including the BeltLine.” says Mike Aiken, VP of Acquisitions at Fogelman.

“Ashford East Village is uniquely positioned to benefit from the growing residential demand near East Atlanta Village for high-quality housing at a discount to new construction nearby.”

CONTACT:

Brittanie Price, BCENE Public Relations

bprice@bcenepr.com

703.967.4771

www.fogelman.com

or follow on Facebook, Twitter and Instagram.

www.draadvisors.com.

HFF arranges $100 million construction loan for development of The Plaza Coral Gables in Coral Gables, FL

Phase one construction of The Plaza Coral Gables includes a 14-story, Class A, state-of-the art office building totaling 291,129 square feet; 135 multi-housing units and 34 ground level/loft apartment units in Coral Gables, FL

MIAMI, FL, June 4, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $100 million in construction financing for the development of the first of two phases of The Plaza Coral Gables, a mixed-use project located in the heart of the Coral Gables business district.

HFF worked on behalf of the borrower, Agave Holdings, LLC, to secure the construction facility.

Manny de Zarraga

The Plaza Coral Gables represents the first large scale mixed-use development within the City of Coral Gables and includes the design and development of Ponce Park, which will serve as an extension of the project’s dramatic open plaza area.

Designed by CallisonRTKL, phase one of the project includes a 14-story, Class A, state-of-the art office building totaling 291,129 square feet; 135 multi-housing units, 34 ground level/loft apartment units;

Also: 101,439 square feet of retail space primarily fronting Ponce del Leon and the dramatic plaza, and consisting of an experiential theme with restaurants, entertainment and service tenants.

The second phase, not part of the financing, will provide an additional 222,541 square feet of net rentable area, including office, residential townhomes and retail, as well as a 242-key hotel.

Jim Dockerty

The project broke ground in December 2017 and has an estimated completion date of June 2020.

The HFF capital markets team representing the borrower included executive managing director Manny de Zárraga, managing director Jim Dockerty and director Matthew McCormack.

“The Plaza Coral Gables is not only a milestone project for Coral Gable’s history but in South Florida history,” de Zárraga said. “This project is the culmination of years of hard work by the Agave team, who are focused and dedicated to providing the best tenant and customer experience for years to come.”

About Agave Holdings, LLC

Agave Holdings, LLC is a privately-owned, commercial real estate firm specializing in the acquisition and development of generational commercial properties throughout the United States and Mexico.

Matthew McCormack

With offices in Miami and Mexico City, the firm, which represents the interests of Grupo JB (family of Juan Beckmann of José Cuervo), currently owns and manages more than four million square feet of institutional Class A office space across the United States and Mexico.

About HFF

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.