 |
| Apollo on H Street, Mixed-Use Complex, Washington, DC |
 |
| Jamie Leachman |
WASHINGTON, D.C. ––
Holliday Fenoglio Fowler, L.P. (HFF) announces the permanent financing for
Apollo on H Street, a best-in-class, pre-stabilized residential, retail
and office mixed-use property in Washington, D.C.’s H Street Corridor.
The HFF team worked on
behalf of the borrower, a partnership between Insight Property Group and
institutional investors advised by J.P. Morgan Asset Management, to secure the
fixed-rate loan through TH Real Estate, an affiliate of Nuveen
(the investment management arm of TIAA).
HFF previously arranged construction
financing and joint venture equity for the partnership in 2014 while the
property was in development.
Apollo on H Street is
in Washington, D.C.’s historic H Street Corridor at 600 H Street NE. With a WalkScore® of 97, the property is near
numerous lifestyle and employment amenities and is five blocks from Union
Station, which serves as the main rail transportation artery into and around
the D.C. metro.
 |
| Nicole Brickhouse |
Completed in 2017,
Apollo on H Street encompasses 431 apartments with luxury finishes, including
Italian cabinetry, quartz countertops, stainless appliances and wood floors
throughout.
The apartments were 70
percent leased at the onset of the marketing process. In addition, the property
features 57,000 square feet of fully leased retail space anchored by a
40,000-square-foot Whole Foods and a 32,000-square-foot office component
occupied by WeWork.
Apollo on H Street
also has 60,000 square feet of indoor/outdoor amenity space, including a public
lobby and leasing lounge connected to the Wydown Café; world-class art
collection curated by Long View Gallery and Art Enables;
 |
| Jennifer Keller |
Also, penthouse with
demonstration kitchen, indoor fireplace and table games; conservatory event
space with access to the roof terrace; east rooftop lounge with grilling
kitchens, a movie projector and expansive landscaping;
Also, west rooftop lounge with
outdoor living room, grilling kitchen, two-tiered swimming pool and outdoor
fireplace; indoor dog wash and outdoor dog run; gym with private studio, boxing
area and Peloton bikes; and communal gardens.
The HFF debt placement
team representing the borrower included Jamie Leachman, Nicole Brickhouse
and Jennifer Keller.
 |
| Sarah Davidson |
“We are seeing more
and more available capital right now for both pre-stabilized and recently
stabilized assets,” Leachman said. “Given the quality, location and
sponsorship, Apollo on H Street created significant interest from the lending
community, providing the partnership multiple options from which to choose.”
“HFF was fortunate to
have been involved in the permanent financing of the Apollo,” Brickhouse
added. “Insight Property Group and J.P. Morgan have created a
one-of-a-kind asset.
" Due to the
extremely competitive environment for best-in-class, pre-stabilized assets,
multiple lenders were able to get creative underwriting the asset as if it was
stabilized. TH Real Estate was fantastic to work with and ultimately
provided the borrower with the most long-term flexibility.”
 |
| Richard Hausler |
Insight Property Group
develops, acquires and repositions well-located multifamily and mixed-use
properties in the greater Washington, D.C. area. Insight’s two principals
and senior leadership team members are industry veterans with a significant track
record of success.
The co-founders, Richard
Hausler and Michael Blum, along with their partners, Trent Smith, Bill
Goodman, Sarah Davidson and Maury Stern, have decades of experience
in the greater D.C. real estate market. Combined, they have acquired and
developed more than 40,000 apartments and condominiums, including high-end
market-rate and affordable units.
They are also responsible for numerous
award-winning planned communities and the development of multiple large-scale
mixed-use and office properties.
Since Insight was
formed in 2009, the company has assembled a portfolio of existing and
to-be-developed multifamily assets that totals in excess of 3,200 units.
The company expects to continue its growth by adhering to the sound investment
and underwriting principles, market discipline and relationship building that
have proven successful in the past.
For more information, please contact:
OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3500
