HFF arranges $239 million for development of Four Seasons Private Residences in Los Angeles
LOS ANGELES, CA – May 30, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $239 million in financing for the construction of the Four Seasons Private Residences Los Angeles, a 59-unit, luxury, residential project that has begun construction in Los Angeles, California.
HFF worked on behalf of the developer, a partnership between Alcion Ventures and Genton
Property Group (GPG), to place the three-year construction loan through funds managed by The Children’s Investment Fund Management Limited. Construction is expected to be completed in mid-2019.
“In an environment where construction financing is currently difficult to obtain, we are very excited to have capitalized the development of the Four Seasons Private Residences Los Angeles,” said senior managing director Doug Bond. “The superior sponsorship, iconic branding and curated design of this unique development attracted a best-in-class lender to the project.”
The Four Seasons Private Residences will be situated across from the Four Seasons Los Angeles at Beverly Hills near the intersection of Third Street and Wetherly Drive. The property’s centralized location provides access to nearby Cedars-Sinai Hospital, the Beverly Hills “Golden Triangle” and the North Robertson Boulevard shopping district. The 12-story, LEED-certified tower will comprise 59 custom for-sale homes with interiors inspired by California Modern master Richard Neutra.
“This project will define luxury living in Los Angeles, and it was critically important to our investors and international pool of buyers that we eliminated every potential obstacle before beginning primary construction,” said GPG founding partner Jonathan Genton. “This funding ensures the Four Seasons Private Residences Los Angeles will meet its full potential as one of the region’s most sought-after properties.”
The building, which is designed by architecture firm CallisonRTKL, will offer a variety of floorplans with luxury features and amenities, including floor-to-ceiling, retractable glass walls; open-concept indoor/outdoor living and dining spaces; professional-grade gourmet kitchens; spa bathrooms with soaking tubs, separate glass-walled showers and dual-sink, marble-topped vanities; rooftop gardens; and stunning views of area landmarks, from the Hollywood Hills to the downtown skyline.
Property features include a heated outdoor lap pool and poolside cabanas; state-of-the-art fitness center equipped with spin, cardio and weight equipment as well as private training and yoga rooms; private spa treatment rooms; IMAX theater for private movie screenings and sporting events; game room; library; and entertaining kitchen and bar.
Managed by the Four Seasons, the private residences will have hotel-inspired amenities with an executive chef, concierge, in-residence dining and spa treatments in addition to a variety of services, including housekeeping, butler service and in-residence personal chefs.
The HFF debt placement team representing the borrower was led by senior managing directors
Doug Bond and Dan Cashdan as well as managing director Mark Wintner.
“We are honored to have represented Alcion Ventures and GPG in capitalizing what will become the premier residential tower in Los Angeles,” Cashdan added.
About Alcion Ventures
Founded in 2004, Alcion Ventures is a real estate investment manager with extensive experience of generating risk-adjusted returns for institutional investors through the active repositioning of assets across property types. Alcion's senior team has worked together for almost two decades resulting in a disciplined, thesis-driven investment strategy that leverages a deep network of relationships and targets seven major North American cities. Based in Boston, Alcion invests on behalf of major U.S. and international institutional investors including public and private pensions, endowments, foundations and high net worth individuals. For more information, please visit alcionventures.com.
About Genton Property Group
Genton Property Group, LLC (GPG) is a privately held real estate investment and development company owned and operated by Jonathan Genton. GPG is a vertically integrated organization performing numerous operational services on behalf of its investment partnerships. GPG, directly and through affiliates, currently owns real estate investments totaling over $500 million, with invested equity exceeding $150 million.
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 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 sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker Licensed with the California Department of Real Estate, License Number 01385740.