HFF completes $900 million sale of 13-property multi-housing portfolio
CHICAGO, IL - July 8, 2014 - HFF announced today that it has completed the sale of the final property of a 13-property multi-housing portfolio totaling more than $900 million located in eight major metros throughout the United States. The final property, Apex, is a 28-story, 271-unit, Class A condominium tower in downtown Los Angeles.
HFF marketed the portfolio on behalf of the seller, ST Residential, LLC. Collectively the assets sold to four separate groups for more than $900 million.
Properties in the portfolio included: Apex (Los Angeles); San Pedro Bank Lofts (San Pedro, CA); Mosaic II (Houston); 44 Monroe (Phoenix); The Ogden, Juhl, One Las Vegas, Loft 5 and Spanish Palms (Las Vegas); The Element (Tampa); Mezzo (Atlanta); Highgrove (Stamford) and The Lex (Chicago). The 93.2 percent leased portfolio totals 3,128 units, has an average year built of 2008 and an average unit size of 1,215 square feet.
The HFF investment sales team representing ST Residential, LLC was led by executive managing director Matthew Lawton.
ST Residential, LLC is a manager of properties owned by a public-private partnership between the FDIC and a group of leading U.S. private real estate investors, including Starwood Capital, TPG, Perry Capital and WLR LeFrak.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter at twitter.com/hff.
Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License Number 01385740.
Contacts:
MATTHEW D. LAWTON
HFF executive Managing Director
(312) 528-3650
mlawton@hfflp.com
KRISTEN M. MURPHY
HFF Associate Director, Marketing
(617) 338-0990
krmurphy@hfflp.com
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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: HFF, Inc. via GlobeNewswire
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