M ultifamily F inancing
Real Estate Journal — August 9 - 22, 2019 — 3A
M id A tlantic
HFF closes sale & secures financing for Phila. apartment community
M&T Bank & BBVA USA provides financing Cushman&Wakefield advises on $60M construction loan B © PCD Capital
OGO T A , N J — Cushman & Wake- field’s Equity, Debt & Structured Finance (EDSF) team advised on a $60 million construction loan for Phase I of a 13-acre, multifamily development in Bogota. PCD Development, LLC of New Providence, a subsidiary of PCD Capital, LLC, along with its partners at Saber Real Estate Advi- sors, LLC of Armonk, NY are building an exciting 421-unit luxury rental community with supporting retail on the riverfront site at 238 West Fort Lee Rd. EDSF’s John Alascio and Sridhar Vankayala , with multifamily investment sales specialist Brian Whitmer , advised on the financing which was provided by M&T Bank and BBVA USA . “Lenders
Riverwalk at Millennium
proved Lender for Conventional Loans. The HFF investment advisory team representing the seller was led by senior manag- ing director Mark Thomson , senior director Carl Fiebig and director Francis Coyne along with senior managing director Jose Cruz. HFF’s debt placement team representing the new owner was led by managing director Ryan Ade and senior direc- tor Jamie Leachman . Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.
CONSHOHOCKEN, PA — Holliday Fenoglio Fowler, L.P. (HFF) has closed the sale of and secured financing for Riverwalk at Millennium, a 375-unit, transit-oriented multi-housing community in the Philadelphia-area suburb of Conshohocken. HFF marketed the property on behalf of the seller, a joint venture between Long Wharf Capital and Scully Company . Relative Properties purchased the as- set. In addition, HFF worked on behalf of the new owner to place the fixed-rate acquisition loan through Freddie Mac . The loan will be serviced by HFF, a Freddie Mac Multifamily Ap-
13-acre, multifamily development in Bogota rendering
continue to actively back strong multifamily develop- ment projects with proven developers,” Alascio said. “PCD’s experience, strong deal metrics and a transforming submarket resonated in this offering, with M&T ultimately providing the best terms to win the business.” The project will incorporate first class amenities, including
an 8,000 s/f clubhouse featur- ing fitness and media rooms; a 5,000 s/f outdoor amenity area with an infinity-edge heated pool, theater, natural gas grills; a riverfront walkway with dog park; and a new on- site NJ Transit bus stop with access to NYC and beyond. Residents will also benefit from approximately 8,000 s/f of onsite retail space.
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