HFF Secures $278M for Multifamily Construction

Holliday Fenoglio Fowler, Houston, secured $277.8 million in construction financing for California and North Carolina multifamily properties.

Greystar, Charleston, S.C., is building The Reserve, a 636-unit Class A apartment community in San Jose, Calif. HFF Senior Managing Director Charles Halladay and Senior Director Jordan Angel arranged a $201 million construction loan through Otéra Capital, Montreal.

Located at 897 South Winchester Boulevard in San Jose close to entertainment district Santana Row, The Reserve will be adjacent to Interstate 280. Upon completion in 2020, the property will include one-, two- and two-bedroom loft-style units averaging 869 square feet and 8,000 square feet of street-level retail.

The firm also secured $76.8 million in joint venture equity and construction financing for Hazel SouthPark, a planned six-story Class A luxury apartment property in Charlotte, N.C.’s SouthPark submarket.

HFF Senior Managing Director Travis Anderson, Managing Director Justin Good and Senior Directors Cory Fowler and Allan Lynch represented developer ZOM Living, Orlando, Fla., and arranged a $30 million joint venture partnership and $46.8 million in construction financing through TD Bank, Toronto.

Hazel SouthPark will total 203 units and 14,000 square feet of ground-floor, high-end retail space within a podium-style building when completed in 2019. Apartments will average 1,168 square feet.