HFF Arranges $409M for Multifamily, Retail Assets

Holliday Fenoglio Fowler, Houston, arranged $409 million for California multifamily and retail properties.

In Los Angeles, HFF secured $239 million in construction financing for Four Seasons Private Residences Los Angeles, a 59-unit residential project. HFF Senior Managing Directors Doug Bond and Dan Cashdan and Managing Director Mark Wintner represented the developer, a partnership between Alcion Ventures, Boston, and Genton Property Group, Los Angeles. They placed the three-year construction loan through funds managed by The Children’s Investment Fund Management Limited, London. 

Located across the street from the Four Seasons Los Angeles at Beverly Hills near the Third Street-Wetherly Drive intersection, the property provides access to nearby Cedars-Sinai Hospital, the Beverly Hills “Golden Triangle” and the North Robertson Boulevard shopping district.

The 12-story LEED-certified tower is scheduled to deliver in mid-2019.

HFF also arranged a $170 million refinancing for a retail portfolio of 33 triple net leased grocery-anchored retail properties totaling 1.73 million square feet in northern California. The firm worked for borrower RMP Properties LLC, Modesto, Calif., to place the 10-year fixed-rate loan with a consortium of commercial mortgage-backed securities lenders led by UBS, New York. The securitized loan refinanced an existing CMBS loan on the portfolio.

HFF Managing Director Peter Smyslowski led the debt placement team with Director Chris Gandy and Associate Rob Bova.

The portfolio is 100 percent absolute net leased under a master lease with The Save Mart Cos., a large private regional grocer. The properties are either free-standing grocery stores or the grocery anchor in multi-tenant retail centers and all include properties operated under grocery brands Save Mart, Lucky, Lucky California and FoodMaxx.

All portfolio properties occupy three primary northern California markets: San Francisco Bay Area, Sacramento and the Central Valley. Smyslowski noted that the properties’ operational and geographical strengths eased loan placement in a “somewhat bearish” retail financing environment.