HFF announces recapitalization for Oxbow 49 Apartments in Portland, Oregon
PORTLAND, OR – March 19, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has advised funds managed by Ares Management, L.P. (NYSE: ARES) and Guardian Real Estate Services on the debt and equity recapitalization of Oxbow 49, a 166-unit multi-housing property in Portland, Oregon.
Working on behalf of Ares and Guardian, the HFF team also arranged a 10-year, floating-rate loan through Freddie Mac’s CME Program for the new partnership. The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.
Oxbow 49 is located at 4949 SW Landing Drive just steps from the Willamette River in the desirable John’s Landing neighborhood of Portland, approximately 1.5 miles south of the city’s central business district. The property’s attractive location provides residents with immediate access to major transportation routes and employment centers, including the city’s largest employer, Oregon Health and Sciences University (OHSU). Completed in 2016, Oxbow 49 is LEED Silver certified and comprises studio, one- and two-bedroom units averaging 790 square feet. Units feature modern finishes such as quartz countertops, stainless steel appliances and faux wood flooring as well as in-unit washers and dryers and nine-foot ceilings. Community amenities include a third-floor terrace, rooftop lounge and generously sized private balconies offering panoramic views of the river and Portland’s West Hills.
The HFF investment advisory team advising on the recapitalization included senior managing director Ira Virden and director Carrie Kahn.
HFF’s debt placement team included managing director Casey Davidson and associate Charlie Watson.
About Ares Management, L.P.
Ares Management, L.P. is a publicly traded, leading global alternative asset manager with approximately $106 billion of assets under management as of December 31, 2017 and more than 15 offices in the United States, Europe and Asia. Since its inception in 1997, Ares has adhered to a disciplined investment philosophy that focuses on delivering strong risk-adjusted investment returns throughout market cycles. Ares believes each of its three distinct but complementary investment groups in Credit, Private Equity and Real Estate is a market leader based on assets under management and investment performance. Ares was built upon the fundamental principle that each group benefits from being part of the greater whole. For more information, visit aresmgmt.com.
About Guardian Real Estate Services
Established in 1971 and headquartered in Portland, Oregon, Guardian Real Estate Services has evolved into a leading management, development and investment firm. The company offers a diversified real estate service platform including property management, investments, development and advisory services. Guardian delivers custom solutions by offering a higher level of expertise, resources and creative capacity to develop a unique approach for each client. Forty years of experience, combined with the long tenure of the company’s key staff, contributes to its strength and sets it apart in the industry. Guardian’s stability and security comes from its legacy of experience, industry knowledge and integrity. For more information, visit gres.com.
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.