Dealmaker: HFF Arranges $54 Million for Colo., Calif. Properties
Holliday Fenoglio Fowler LP, arranged $26 million for a Loveland, Colo., office building and $28 million for a multifamily housing project in Emeryville, Calif.
HFF’s Denver officed arranged $25.991 million in construction financing for to develop Rangeview V, a 120,000-square-foot, single-tenant office building in Loveland. HFF worked on behalf of the borrower, RVABTS LLC, an affiliate of McWhinney, to secure the floating-rate loan through Vectra Bank (Zion’s Bancorp). The loan has a term of two years with one 12-month extension option.
Due for completion in June 2017, Rangeview V is a Class A office building located at Centerra, a 3,000-acre master-planned community in Loveland. The building is fully leased to Agrium Inc., a distributor of crop inputs and services in North America, South America and Australia, and a global producer and marketer of agricultural nutrients. Agrium currently houses 800 employees in Rangeview buildings I-IV; with the addition of Rangeview V, Agrium will consolidate a large portion of its U.S. and North American operations to this location with an expanded capacity of up to 1,200 employees.
Designed by architectural firm RNL, Rangeview V will feature outdoor patios and balconies with lakefront and mountain views, 11-foot ceiling heights, a landscaped plaza and parking for 600 vehicles. The four-story property will be situated along the shores of Houts Reservoir and Equalizer Lake with access to Interstate 25. This location, 55 miles north of Denver, is within proximity to the Fort Collins/Loveland Airport and Colorado State University, a leading agricultural schools in the country and a large recruitment base for Agrium.
The HFF debt placement team representing the borrower was led by senior managing director Eric Tupler and associate director Brock Yaffe.
In California, HFF’s San Francisco office arranged $28 million in financing for 3900 Adeline, a newly built, 101-unit multi-housing community in Emeryville. HFF worked on behalf of the borrower, Madison Park Financial Corp., to place the 10-year, fixed-rate loan with Nationwide Real Estate Investments.
3900 Adeline is at the corner of Adeline and 39th Streets in the North Oakland/Berkeley/Emeryville neighborhood of San Francisco’s East Bay. The transit-oriented property is one block from the Emery Go-Round shuttle and offers nearby access to the MacArthur BART station, AC Transit regional bus service, Amtrak Capitol Corridor commuter train and Interstates 80, 580 and 880. The property is also convenient to multiple nearby retail amenities and employers in Emeryville, Oakland and downtown San Francisco (by way of BART train or by car).
Completed in 2015, the four-building, three-story property has 101 units averaging 776 square feet each; 1,280 square feet of 100-percent-leased, ground-floor retail; and a 107-space, underground parking garage. The property features a central courtyard, bike room, electric car charging stations and a community room with full kitchen.
The HFF team representing the borrower was led by senior managing director Bruce Ganong.
