Dealmaker: HFF Arranges $457M for Mixed-Use, Condo Properties

Holliday Fenoglio Fowler, Houston, arranged $457.1 million for mixed-use and condominium assets in Tennessee and New York.

In downtown Nashville, HFF Senior Managing Directors Riaz Cassum and Danny Kaufman, Senior Associate Robyn King and Associates Andrew Gray and Mary Dooley secured $360 million in debt and equity financing to construct the Four Seasons Hotel and Private Residences Nashville, a mixed-use hotel and for-sale residential project.

Upon delivery both the hotel and the for-sale residential units will be branded and operated by Four Seasons Hotels and Resorts.

The HFF team represented property developers The Congress Group, Boston, and AECOM Capital, Los Angeles.

Located at 151 First Avenue South, the mixed-use development will include 232 hotel rooms, high-end for-sale residential units and 10,000 square feet of retail space. Construction will begin by June.

The project will overlook the Cumberland River as well as the adjacent Ascend Amphitheatre just across the John Seigenthaler pedestrian bridge from Nissan Stadium, where the Tennessee Titans play. The Four Seasons Hotel and Private Residences Nashville is also less than a 15-minute drive from four of the five top employers in Nashville, including Pinnacle Financial Partners and Bridgestone.

“The arrival of Four Seasons to Nashville speaks volumes to the attractiveness of the city as a destination for both leisure and business,” said Cassum.

HFF also secured $97.1 million in financing for 111 Leroy, a condominium development in Manhattan’s West Village.

Property developer Property Markets Group, New York, accepted a two-year floating-rate loan through Rialto Capital Management, Miami. The loan proceeds financed unsold condo inventory of 13 residences and four townhouses totaling 50,000 sellable square feet. HFF previously secured construction financing for the project, which is now in the final stages of development.

111 Leroy includes 18 residences in a 10-story tower on Greenwich Street. The condominium units vary from studio through four-bedroom floorplans and the project’s five three- and four-story townhouses average 5,397 square feet.

HFF’s debt placement team included Managing Director Christopher Peck and Analyst Kristen Knapp.