6D — November 9 - 22, 2018 — Lender’s Directory — Financial Digest — Mid Atlantic Real Estate Journal
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L ender ’ s D irectory
Coker and Crivella rep. seller in $90M sale of Arlington, VA multi-housing community HFF announces $156.2 million financing for Modera Avenir Place in Vienna, Virginia V ienna, VA — Hol- l i da y Feno g l i o Fowler, L.P. (HFF)
financing. Modera Avenir Place is situ- ated at the intersection of Prosperity Avenue and Gal- lows Rd. adjacent to the Shops at Avenir Place and Interstate 66. The transit-oriented com- munity is adjacent to the Dunn Loring-Merrifield Metrorail station (Orange Line) and nu- merous major thoroughfares that provide accessibility to the entire D.C. metropolitan area. Modera Avenir Place, a grocery-anchored mixed-use development, was completed in two phases in 2013 and 2015. The community com-
prises 628 residential apart- ment homes averaging 882 square feet, 578 of which are market-rate units. The studio, one- and two-bedroom floor plans include state-of-the-art features such as gourmet-in- spired kitchens with stainless steel appliances and quartz countertops, central heat and air conditioning, high-end light fixtures, hardwood-style flooring and abundant stor- age. Community amenities include two swimming pools with sun decks, grilling sta- tions, billiards and gaming consoles, and business centers with cyber cafes. The property includes a ground-floor Harris Teeter, Inova Care Center and Thai by Thai restaurant. The HFF team represent- ing the borrower included Nicole Brickhouse, Jamie Leachman, Jennifer Keller, Mike Tepedino, Sue Car- ras, Walter Coker and Brian Crivella . HFF announces the $90 million sale of and acquisi- tion financing for 672 Flats, a 173-unit, newly completed multi-housing community in the Ballston submarket of Arlington, VA. The HFF team marketed the property on behalf of the seller, a joint venture between The Penrose Group and Clark Enterprises, Inc. The Chevy Chase Land Com- pany purchased the property free and clear of existing debt. In addition, HFF’s debt place- ment team worked on behalf of the new owner to arrange a 12-year, fixed-rate acquisi- tion loan through USAA Real Estate . 672 Flats is a six-story com- munity located at the conver- gence of N. Glebe Rd., Wilson Blvd. and I-66 in the highly sought-after Rosslyn-Ballston Corridor. Completed earlier this year, the property has earned a WalkScore of 93 given its proximity to an ar- ray of university campuses, restaurants, shopping and en- tertainment venues, including Ballston Quarter, which will transform the neighborhood into an open-air town center. The LEED Silver, boutique community incorporates mul- tiple green building elements blended with high-end, mod- ern finishes. The HFF investment advi- sory team representing the seller included Walter Coker and Brian Crivella .
announces $156.2 million in financing for Modera Avenir Place, a best-in-class residen- tial property in Vienna. The HFF team worked on behalf of the borrower, a joint venture between Mill Creek Residential Trust LLC and institutional investors advised by J.P. Morgan Asset Man- agement , to secure the float- ing-rate loan with MetLife Investment Management . Loan proceeds were used to retire existing construction
Modera Avenir Place
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