HFF arranges $31 million refinancing for grocery-anchored retail center in Lyndhurst, NJ

Veterans Square Shopping Center, Lyndhurst, NJ

 

Jon Mikula

FLORHAM PARK, NJ, May 17, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a $31 million refinancing for Veterans Square, a 136,928-square-foot, grocery-anchored community retail center in the Northern New Jersey suburb of Lyndhurst.

HFF worked on behalf of the borrower, The Hampshire Companies, to place the fixed-rate loan with Nationwide Real Estate Investments (Nationwide).  Loan proceeds will be used to effectuate an internal transfer of the asset.

Completed in 2000 and renovated in 2012, Veterans Square consists of four one-story buildings and features 710 parking spaces, of which 150 are licensed from NJ Transit.  

The 97.2-percent-leased center is home to 13 tenants, including ShopRite, Supercuts, PetSmart, Davita Healthcare, HomeGoods, GNC, Garden Nails and Gencarelli’s Italian Restaurant. 

Situated on 12.31 acres at 530-560 New York Avenue, the center is located in the heart of a densely populated residential neighborhood and is within walking distance to both the Lyndhurst train station and several New Jersey Transit bus stops. Veterans Square is located in the Meadowlands retail submarket, which is currently 97.5 percent occupied.

Michael Klein

The HFF debt placement team representing the borrower was led by senior managing director Jon Mikula and director Michael Klein.

“Grocery-anchored shopping centers located in densely populated communities such as Lyndhurst are highly sought after by life insurance companies,” Klein said.  “Nationwide was already intimately familiar with the asset, so they were easily able to close within a short closing window.”

“Nationwide was extremely flexible and creative in solving the debt need for this transaction,” Mikula added.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy

Director, Marketing

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

(www.facebook.com/hampshireco),

Twitter (@hampshireco), and

LinkedIn (www.linkedin.com/company/the-hampshire-companies).

Cushman & Wakefield Negotiates Sale of Denville, NJ Retirement Community

Megan Fetter

TAMPA, FL – Cushman & Wakefield announced it has negotiated the sale of Franciscan Oaks, an entrance fee continuing care retirement community in Denville, NJ.

Based in Cushman & Wakefield’s Tampa office, Executive Managing Director Allen McMurtry, Senior Managing Director Megan Fetter and Senior Managing Director David Kliewer represented seller Catholic Health Initiatives in the disposition.

The buyer was Springpoint Senior Living, New Jersey’s largest non-profit provider of housing and services for seniors. Springpoint currently manages a portfolio of six continuing-care retirement communities,18 affordable-housing communities and home-care services.

Franciscan Oaks is situated on ±14 acres at 19 Pocono Road in Denville. The facility features 285 independent living apartments, 33 assisted living units and an 84-bed skilled nursing facility. Franciscan Oaks is adjacent to Saint Clare’s Hospital Denville and located less than one hour west of Manhattan via Interstate 80.

For a complete copy of the company’s news release, please contact:

David A. Meyer 

Meyer Media 

407.489.7488 

david@meyer.media

  www.meyer.media

Multi Housing Advisors Brokers $25 Million Sale of Apartment Community in Macon, GA

            

Thomaston Crossing Apartments, Thomaston Road, Macon, GA

  

Robert Stickel

ATLANTA, GA — Multi Housing Advisors (MHA) has arranged the $25 million sale of Thomaston Crossing, a 250-unit apartment community located in Macon, Georgia.

Robert Stickel, who leads MHA’s central to coastal Georgia deal team, represented the sellers, Sierra Development Group and SPP Residential. Maxus Properties Inc. purchased the property.

“Thomaston Crossing is truly a top-tier asset and the newest multifamily delivery in Macon. As the Central Georgia economy continues its expansion, job and wage growth have emerged,” Stickel said. 

“Multifamily properties are a prime beneficiary of Macon’s development with 4.9% year-over-year rent growth since December 2014, making it the fastest growing Georgia market outside of Metro Atlanta.”

Thomaston Crossing is located on Thomaston Road in the path of growth in West Macon. Built in 2014, the property is the newest and highest quality multifamily product in the area. Residents benefit from convenient access to I-75, which enables them to quickly access over 50,000 quality jobs.

Thomaston Crossing, Thomaston Road, Macon, GA

Multi Housing Advisors (MHA) has become known as a solid leader in the multi housing industry. 

The company, founded in 2002, was established to bring a focused brokerage platform to growing markets throughout the Southeast. 

Since that time, MHA has created value for clients in virtually every sector of the multi-housing market. 

The MHA team works hard to build and enhance value by leveraging strong attention to detail, accessing an active investor base and capitalizing on its vast market knowledge in ways that benefit every aspect of the transaction process.

MHA enjoys a total sales transaction volume that has surpassed $5.9 billion, representing over 143,000 units and nearly 850 individual transactions. MHA serves local, regional and national clients and has become known for its effective multi-office platform, excellent transaction history and rapid growth.

 For a complete copy of the company’s news release, please contact:

Deborah Rogers

Multi Housing Advisors

404.645.7275

drogers@usmha.com

www.usmha.com.

Wyndham Hotel Group Multiplies Wingate and Hawthorn Footprint in Canada

Chip Ohlsson

PARSIPPANY, NJ (May 16, 2016) – Committed to expanding the Canadian presence of two of its top-performing midscale brands, Wyndham Hotel Group today announced multi-unit agreements with PHI Hotel Group to develop 25 Wingate by Wyndham hotels over the next 25 years and 15 Hawthorn Suites by Wyndham hotels over the next 15 years.

The agreements multiply Wingate’s footprint in Canada by five times its current size and establish Hawthorn’s presence in the country. PHI Hotel Group has already executed on three Wingate hotels for development in 2016, and has another eight hotels in its existing portfolio currently under construction.

Half of Canada’s population identifies as middle class, a demographic that desires to travel but has a limited budget. According to Phocuswright, Canadians are traveling domestically more frequently, making midscale hotel brands such as Wingate and Hawthorn an ideal travel solution.

The hotels, most of which are new construction, will open as soon as 2017 and reside in top Canadian travel markets such as Montreal, Ottawa, Calgary, and Halifax.

Sukhi Rai

“These agreements demonstrate our steadfast commitment to continued growth in Canada,” said Chip Ohlsson, Wyndham Hotel Group’s chief development officer. “We’re targeting Canada’s leading cities - where travelers really want to be - with two incredible brands that guests embrace for their convenience, quality, and experience.”

“Wingate and Hawthorn stand out for us and for our guests, offering thoughtful, consistent experiences under a trusted name,” said Sukhi Rai, president of PHI Hotel Group. 

“This collaboration is a natural fit, bringing Wyndham Hotel Group’s powerful scale and industry-leading technology efforts to life through two brands that travelers adore. We look forward to continuing to build our relationship together.”

Wyndham Hotel Group’s hotels in Canada represent approximately 6% of its global portfolio – and that number is growing quickly. Wyndham Hotel Group boasts a robust pipeline of 46 hotels with more than 4,000 rooms in Canada, gearing up to surpass 550 hotels in the country. Currently, 11 of the company’s 16 hotel brands have a presence in Canada, including Baymont Inn & Suites®, Days Inn®, Dolce Hotels and Resorts®, Howard Johnson®, Knights Inn®, Microtel Inn & Suites by Wyndham®, Ramada®, Super 8®, Travelodge®, Wingate by Wyndham® and Wyndham Garden®.

Hawthorn Suites by Wyndham is an extended-stay brand offering guests a home away from home designed to help them maintain their routine whether their stay is for a week, a month or a year. Wingate by Wyndham offers guests everything they need to stay connected, on-schedule, productive and ready for whatever comes next.

               

For a complete copy of the company’s news release, please contact:

Gabriella Chiera

Wyndham Hotel Group

22 Sylvan Way,

Parsippany, NJ, 07054

(973) 753-6590

Gabriella.Chiera@wyn.com

Investors Pursue Strengthening Southwest Industrial Market; JLL closes $66 million sale of Phoenix, AZ Metro Portfolio

Bo Mills

 PHOENIX, May 11, 2016 – A large portfolio of industrial space located in one of the country’s fastest growing metro areas is bound to attract significant investor attention: the proof is in the sale of the three-property Phoenix Metro Portfolio.

JLL’s Capital Markets experts closed the $66 million sale on behalf of Duke Realty Corporation. Exeter Property Group purchased the assets.

Managing Directors Bo Mills and Mark Detmer led the JLL team on the transaction.

“Phoenix’s industrial market is increasingly on investors' radar due to its connectivity and favorable yields compared to tier one markets,” said Mills. “This portfolio represented an incredible opportunity to acquire a critical mass of institutional-quality warehouse product in a business-friendly market.”

The three properties total 937,655 square feet and are leased to six, diverse tenants:

• Riverside Business Center, totaling 603,909 square feet of cross-dock distribution space

• Estrella Buckeye, totaling 250,157 square feet of distribution space

• 2021 S 51st Avenue, a truck terminal totaling 83,589 square feet

               

For a complete copy of the company’s news release, please contact:

Stacey Hershauer

 Phone:

 +1 480 600 0195

 Email:

 stacey@focusaz.com

MBA Opens Doors Foundation Launches “Text-to-Give” Feature at National Secondary Market Conference in New York

Debra Still

 NEW YORK, NY (May 16, 2016) – The Mortgage Bankers Association Opens Doors Foundation (MBA Open Doors) today announced that it is accepting “Text-to-Give” donations.

MBA President and CEO David H. Stevens, CMB, made the announcement during his opening remarks to the conference. 

MBA Opens Doors is a non-profit organization dedicated to providing assistance to families with a critically ill or injured child by making their mortgage or rent payment.

Any Opens Doors Foundation supporter with a cell phone can text “ODF” to the number “20222.” 

Once the donor confirms the return message a donation in the amount of $25.00 is made to the Foundation. A one-time $25.00 donation is charged to the donor’s wireless bill or prepaid balance.

“The attendees at MBA’s conventions have already been very generous. 

More than $20,000 has been raised at MBA’s meetings in 2016 alone, through small donations of individual members moved to give by the stories of families that Opens Doors has helped,” said Debra Still, Foundation Chairman and CEO of Pulte Mortgage. “By using ‘Text-to-Give’ we can streamline that process and make it much easier for individual members to give not only at our conferences and meetings but throughout the year.”

David H. Stevens

Opens Doors is currently able to pass on 100 percent of the donations it receives to families in need of assistance. Potential recipients of the grants are identified through the Foundation’s ongoing relationship with children’s hospitals in Washington D.C., Boston, Dallas-Fort Worth, Denver and Houston.

Opens Doors is a 501(c)(3) organization and all contributions are tax deductible. For more information about the Foundation or to make a donation, please go to www.mbaopensdoors.org.

               

For a complete copy of the company’s news release, please contact:

Ali Ahmad

aahmad@mba.org

(202) 557-2727

Michigan State Students Cameron Armstrong and Di Wang Win 2016 Hospitality Asset Managers Association (HAMA) Student Case Competition

Kim Gauthier

BOSTON, MA, May 16, 2016—The Hospitality Asset Managers Association (HAMA) today announced that senior Cameron Armstrong and junior Di Wang of Michigan State University were selected as the 2016 winners of the Tenth Annual HAMA Student Case Competition.

 The MSU team was chosen from a select field of top hotel schools that also included the Pennsylvania State University and the University of Denver.  

Di Wang

Student teams researched and prepared a case study from a list of topics that currently impact the hotel industry. 

Wang and Armstrong presented on “How to Best Reach Chinese Millennials via Social Media,” a task they noted was all the trickier due to China’s restrictions on sites like Facebook and Twitter.

 The University of Denver’s Chris Allmann and Jon Willis focused on the “Minimum Wage Increase on the Lodging Industry” and how to mitigate its impact.  Samantha Martin and Charles Garber were chosen to represent The Pennsylvania State University and researched, “Out of Control Third Party Commissions,” offering insights into how best to work with OTAs.

“Each year, I continue to be more impressed by the level of sophistication and insight from tomorrow’s future hotel leaders,” said Kim Gauthier, HAMA education chair and senior vice president of Hotel Asset Value Enhancement.  

“While these students still are in the learning phase of their very young careers, their perspectives shine new and interesting light on problems that we deal with on a daily basis as professional asset managers.  

It is HAMA’s goal to embrace and nurture these young minds as they grow into our industry.”

Samantha Martin

                Working with a HAMA member and their respective university professors, student participants were required to give a multi-part presentation, complete with research paper and accompanying PowerPoint, over the course of two sessions that included initial and revised findings.

 Topics included “Rising Minimum Wage,” “Rising Health Care,” “Social Media Management Issues and Trends,” “Room Design – What Does the Future Room Look Like,” “Out-of-Control Third-Party Commissions (Primarily Group Airbnb/VRBO),” “Alternatives for Room Service,” and “Wi-Fi Solutions.”

  Winners received an all-expense-paid trip to HAMA’s Spring Meeting in Boston to meet and network with some of the industry’s leading hotel asset managers. 

  In addition to the award presentation, the two-day event also hosted a number of informational sessions and group meetings to discuss the latest industry trends and share best practices.

                “With governmental restrictions on sites like Facebook and Twitter, it is a challenge to reach Chinese Millennials via social media,” noted Wang.  “That being said, there certainly are Chinese equivalent sites that allow hoteliers to reach this hugely profitable traveling segment.”

                “Our goal was to find alternatives that allow socially proactive organizations to place better advertising and interaction opportunities in front of this target audience,” added Armstrong.

 “This competition has been a huge learning experience for us, not just regarding this immediate issue, but through working with established asset managers and seeing things from that discipline’s viewpoint.  This award really validates our decision to pursue careers within the hospitality industry.”

               

For a complete copy of the company’s news release, please contact:

Chris Daly, media

(703) 435-6293

chris@dalygray.com

The Preiss Company Acquires Two Student Housing Properties in New Joint Venture; Brings to Seven Acquisitions Year-to-Date

  

 

Donna Preiss

 RALEIGH, NC, May 16, 2016—Officials of The Preiss Company, the nation’s third largest, privately-held, student housing owner-operator, today announced that it had formed a joint venture with a private investment group to acquire two student housing complexes in Raleigh, N.C., for an undisclosed amount. 

The transaction brings to seven the number of properties transacted by Preiss year-to-date.  Both student housing units -- the 440-bed College Inn and the 288-bed University Village at 2505 -- will continue to be operated by The Preiss Company.

“Preiss previously was a joint venture partner in these properties,” said Donna Preiss, founder and CEO of The Preiss Company.  “Our former partner had achieved its objectives with these assets and wanted to harvest the return on their investment.  

“We have a diverse number of strategic partners with different investment criteria.  This allowed us to work with another of our investor partners to acquire these assets which still have great upside,” she said.

“Coming into 2016, Preiss set a goal of adding 10 properties,” she noted.  “We have the largest pipeline in our history and could exceed that goal by as early as this summer.

“ Based on our current rate of acquisitions, we will have an exceptional year, perhaps a record. There are a large number of properties on the market, ranging from those that would benefit from major renovation/repositioning to those that need more focused management. 

“There also remains opportunities to develop new properties.  Financing remains attractive, and we see continued demand growth.  We continue to believe this is an excellent time to be investing in student housing.”

For a complete copy of the company’s news release, please contact:

Amy Barger, Vice President of Marketing

The Preiss Company

(919) 532-1114

amy.barger@tpco.com

Atlantic | Pacific Companies Partners with Rockpoint Group to Develop Two New Luxury Properties in South Florida

  

Alex Lastra

MIAMI, FL – Miami, Florida Atlantic | Companies (A|P Companies), is pleased to announce the affiliation with The Rockpoint Group for two properties in South Florida: The Atlantic | Cypress Creek and The Atlantic | Delray Beach, which are anticipated to begin leasing in fourth quarter 2016.

Alex Lastra, Senior Managing Director of Atlantic | Pacific Development remarked “We are excited to partner with Rockpoint Group on these two quality south Florida developments. 

These developments will be ‘best in class’ assets that will provide residents at both communities with all of the amenities of a luxury home within your apartment and the latest in cutting edge amenities within the resort style clubhouse and throughout the Community.”

Previously stated in the announcement of the groundbreaking which was made in February 2016, the two properties are ideally situated.

 The Atlantic | Cypress Creek between I-95 and Florida’s Turnpike along Commercial Blvd (one of Broward Counties most traveled arteries) and The Atlantic | Delray Beach, which is minutes from the vibrant Atlantic Avenue, which is the heart of Delray Beach.

 The Atlantic | Cypress Creek will be a 420-unit luxury apartment community and The Atlantic | Delray Beach will have 346 luxury apartment homes.

For more information about A|P and its array of real estate services including development, property management, affordable housing and construction, visit www.apmanagement.net or call (800) 918 – 1145.

For a complete copy of the company’s news release, please contact:

Jessica Wade Pfeffer | Jessica Wade Inc.

jessica@jessicawadeinc.com | 305.804.8424

Margie Sernik | Jessica Wade Inc.

margie@jessicawadeinc.com | 786.200.2516

www.apmanagement.net.

Atlantic | Pacific Communities Honors Sandrell Rivers and Miami-Dade Commissioner Audrey Edmonson at Grand Opening of Theater in Liberty City, FL

Miami-Dade Commissioner Audrey Edmonson

MIAMI, FL – Atlantic | Pacific Communities (A|P Communities), a subsidiary of Atlantic | Pacific Companies (A|P), along with local officials including Miami Dade Commissioners Audrey M. Edmonson and Dr. Barbara Carey-Shuler, Congresswoman Carrie Meek, Congressman Kendrick Meek, Miami Dade County Mayor Carlos Gimenez and City of Miami Mayor Tomas Regalado, celebrated the grand opening of Seventh Avenue Transit Village and the groundbreaking of the second phase of construction.

Seventh Avenue Transit Village, which broke ground in 2014, provides a hub for transit, affordable housing, economic development and the arts in the heart of Liberty City.

Dr. Barbara-Carey Shuler

In addition to the grand opening and groundbreaking celebration, the new 200-seat black box theater was named the “Sandrell Rivers Theater,” honoring Florida cultural leader, Sandrell Rivers, who dedicated a lifetime of service to arts, culture and education.

Another surprise for those in attendance was the renaming of Seventh Avenue Transit Village to the Audrey M. Edmonson Transit Village to recognize the champion who helped ensure this vision became a reality, Commissioner Audrey M. Edmonson.

Other moving moments included the unveiling of a mural honoring influential political and cultural leaders of Liberty City.

   For a complete copy of the company’s news release, please contact:

Jessica Wade Pfeffer | Jessica Wade Inc.

jessica@jessicawadeinc.com | 305.804.8424

Margie Sernik | Jessica Wade Inc.

margie@jessicawadeinc.com | 786.200.2516

RealtyTrac Reports First Quarter 2016 Home Loan Originations Down 8 Percent from Year Ago, Driven by 20 Percent Drop in Refinance Originations

Daren Blomquist

IRVINE, Calif. –— RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, released its Q1 2016 U.S. Residential Property Loan Origination Report, which shows 1.4 million (1,415,511) loans were originated on U.S. residential properties (1 to 4 units) in the first quarter of 2016, down 12 percent from the previous quarter and down 8 percent from a year ago to the lowest level since the first quarter of 2014.

The loan origination report is derived from publicly recorded mortgages and deeds of trust collected by RealtyTrac in more than 950 counties accounting for more than 80 percent of the U.S. population.

The year-over-year decrease in total originations was driven by a 20 percent year-over-year decrease in refinance originations even while purchase originations increased 3 percent from a year ago and Home Equity Line of Credit (HELOC) originations increased 10 percent from a year ago.

“After a surprisingly strong 2015, the mortgage refi market started running out of steam in the first quarter of 2016 despite lower mortgage interest rates,” said Daren Blomquist, senior vice president at RealtyTrac.

“Meanwhile the purchase loan market continued the pattern of slow-and-steady growth that it has been following the past two years, and HELOC originations increased on a year-over-year basis for the 16th consecutive quarter, showing that borrowers are regaining both home value and the confidence needed to increasingly leverage their home equity.”

   For a complete copy of the company’s news release, please contact:

Jennifer von Pohlmann

Sr. Public Relations Manager

Office: 949.502.8300 ext 139

 jennifer.vonpohlmann@realtytrac.com

HFF secures financing totaling $77.5 million for garden-style apartment communities in two major Colorado markets

Eric Tupler

 DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $40.2 million in financing for Fox Ridge Apartment Homes in Centennial, Colorado and $37.3 million in financing for Canterwood Apartments at 4970 Meredith Way  in Boulder, Colorado.

HFF worked on behalf of the borrower, a REIT sponsored by Resource Real Estate, Inc. (“RRE”), to arrange two separate loans through a life company correspondent lender.  Both loans have a seven-year, fixed-rate term with significant prepayment flexibility.  The borrower previously acquired the properties on an all-cash basis. 

Fox Ridge Apartment Homes is a 300-unit property located at 8225 South Poplar Way within the Cherry Creek School District and adjacent to numerous retail, dining and entertainment amenities, including Park Meadows Mall. 

The property has 27 two- and three-story walk-up residential buildings encompassing one- and two-bedroom units averaging 977 square feet each.  Community amenities include a heated outdoor swimming pool, 24-hour fitness center, sport court, outdoor barbecue grill and picnic area, and reserved carport parking.

Canterwood Apartments is located in Boulder, Colorado at 4970 Meredith Way.  The property has 216 one- and two-bedroom units averaging 850 square feet situated within 14 residential buildings.  Community amenities include a swimming pool, hot tub, barbecue picnic areas, dog park, yoga room, bike repair room, two clubhouses, business center and views of the Flatirons.

The HFF debt placement team was led by senior managing director Eric Tupler.

   For a complete copy of the company’s news release, please contact:

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF closes $35 million sale of and secures $25.25 million financing for 5-property self storage portfolio in Harrisburg, PA

Barbara Guffey

PHILADELPHIA, PA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $35 million sale of and secured $25.25 million in acquisition financing for a five-property, Storage Depot-branded, self-storage portfolio totaling 310,257 rentable square feet in Harrisburg, Pennsylvania.

HFF marketed the portfolio on behalf of the seller, PFG Capital, LP.  Self Storage Capital Partners purchased the assets.  

Additionally, working on behalf of the new owner, HFF placed the 10-year, fixed-rate, 75-percent LTV acquisition loan with a CMBS lender.

The Storage Depot portfolio comprises properties at 6325 Allentown Boulevard, 32 Milroy Road, 4401 North 6th Street, 350 South 7th Street and 115 Cumberland Parkway.

Storage Depot Portfolio Property

 All the facilities are located within a 10-mile radius of the capitol building in Harrisburg.  The portfolio consists of 243 climate controlled units, 2,271 non-climate controlled units, 87 income-producing surface parking spaces and eight warehouse/commercial units totaling 14,054 square feet.  Additionally, there is an expansion area totaling 28,880 square feet.

The HFF team representing the seller was led by managing director Richard Schontz, director Barbara Guffey and associate director Matthew Weckesser.

The HFF debt placement team representing the borrower was led by managing director James Conley.

Storage Depot Portfolio Property

“This is the third transaction our team completed in the past 14 months for PFG Capital, totaling $70 million,” Schontz said.  “This portfolio is a great fit for Self Storage Capital Partners and is nearly doubling their holdings within the Mid-Atlantic Region. 

In addition, James Conley played a major role in this transaction by placing debt for the buyer in very choppy CMBS Market on the same terms as presented at the time of application.”

   For a complete copy of the company’s news release, please contact:

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

www.selfstoragecp.com

www.pfgcapital.com.

HFF closes $23 million sale of and secures $18.2 million financing for mixed-use residential community in Henderson, CO

Belle Creek Apartments, 10754 Belle Creek Boulevard, Henderson, CO

 

Jordan Robbins

DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and secured acquisition financing for Belle Creek Apartments, a 156-unit residential community with 6,256 square feet of ground-floor retail in Henderson, Colorado.

HFF marketed the property on behalf of a real estate investment trust.  Hamilton Zanze purchased the asset for $23 million free and clear of existing debt. 

Additionally, HFF assisted the new owner in securing an $18.2 million, 10-year, fixed-rate loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.  The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.

Belle Creek Apartments is situated within the 171-acre Belle Creek master planned community at 10754 Belle Creek Boulevard in the northeastern Denver suburb of Henderson. 

The transit-oriented property provides access to the RTD Highway 85-East 104th Avenue bus stop and major thoroughfares, including East 104th Avenue, Highway 85, E-470 and Interstate 76.

 Completed in 2002, the eight building, garden-style community has a mix of one-, two- and three-bedroom units averaging 753 square feet each and six ground-floor retail spaces totaling 6,256 square feet.

The HFF investment sales team representing the seller was led by managing director Jordan Robbins and associate director Jeff Haag.

HFF’s debt placement team representing the buyer was led by associate director Tyler Ford and senior managing director Matt Kafka.

  For a complete copy of the company’s news release, please contact:

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

www.hamiltonzanze.com.

HFF secures financing for development of master planned community in suburban Dallas, TX

 

Jeremy Sain

DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured financing for the initial development of Green Meadows, a 15-phase, 1,408-acre master planned community in the North Dallas suburb of Celina, Texas.

HFF worked on behalf of the borrower, Tomlin Investments, to place the construction loan with Bank of the Ozarks.  

Proceeds were used to pay off existing debt and fund construction costs associated with the project, including bringing in roadways and utilities and creating both an amenity center and the 365-lot Phase I of the development.

Green Meadows is located one mile west of the Dallas North Tollway along Legacy Drive, approximately 10 miles north of Frisco’s “$5 Billion Mile” and the rapidly growing Legacy Business Park. 

Steven Heldenfels

The developer plans to build a new roadway, Green Meadows Parkway, which will intersect the toll road and further increase the community’s accessibility.  

Once complete, the master planned development will have nearly 4,500 single-family residential homes offering community amenities, including multiple swimming pools, gardens, dog park, playgrounds, walking trails, sand volleyball courts, grilling area with fire pit, party center and daycare center.

The HFF team representing the developer was led by director Jeremy Sain and managing director Steven Heldenfels.

“We are excited about putting the funding in place to develop the infrastructure for the entire project and bring the first phase of lots to market for a select group of builders,” said Dan Tomlin of Tomlin Investments.

  For a complete copy of the company’s news release, please contact:

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com