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HFF closes sale of 3 multi-housing properties in Georgia and Tennessee

11/21/2016

ATLANTA, GA – November 21. 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of three southeastern U.S. multi-housing properties totaling 816 units: ALARA North Point and ALARA Park Bridge in Alpharetta, Georgia, and ALARA River Oaks in Franklin, Tennessee.

HFF marketed the properties on behalf of the seller, American Realty Advisors.  The assets were sold in three separate transactions to separate buyers.  ALARA North Point sold to Greystar, ALARA Park Bridge sold to Stockbridge Capital Group and ALARA River Oaks to TH Real Estate, a division of TIAA Global Asset Management.

The three, garden-style assets, which are located in two of the Southeast’s leading submarkets, have an overall occupancy of 94 percent.  ALARA North Point comprises 264 units and is located at 900 Jameson Pass in the Atlanta suburb of Alpharetta, approximately 25 miles northeast of downtown.  The 352-unit ALARA Park Bridge is situated 4.3 miles northeast of ALARA North Point at 15000 Parkview Lane.  ALARA River Oaks consists of 200 units situated on a 34.4-acre site at 1000 Champions Circle in Franklin, Tennessee, to the south of Nashville’s central business district.  Each of the properties offer a full amenity package featuring resort-style swimming pools, grilling areas, fitness centers, pet parks, expansive clubhouses and business centers.

The HFF investment sales team representing the seller was led by senior managing director Jason Nettles and director Megan Thompson.

“Record-setting job growth, population gains, company relocations and cultural buzz define both the Atlanta and Nashville markets,” said Nettles.  “As a result, the properties are well-positioned for long-term asset value preservation due to their strategic location in two of the country’s fastest growing metropolitan areas.”

About American Realty Advisors
With over $7.5 billion in assets under management, American Realty Advisors (American) is a leading provider of commercial real estate investment management services.  For over 27 years, American has managed capital for institutional investors utilizing core and value-added commingled funds and separate accounts.  American acquires assets directly or provides equity, preferred equity, mezzanine debt, debt and hybrid debt to primary investors and developers operating throughout the United States for office, industrial, multifamily and retail properties.  More information regarding American can be found at americanreal.com.

About Greystar
Greystar is a leading, fully integrated real estate company offering expertise in investment management, development and property management of rental housing properties globally.  Headquartered in Charleston, South Carolina, with offices throughout the United States, Europe and Latin America, Greystar is the largest operator of apartments in the United States, managing over 400,000 units in over 150 markets globally.  Greystar also has a robust institutional investment management platform dedicated to managing capital on behalf of a global network of institutional investors with over $15 billion in gross assets under management, including $6.4 billion of developments underway.  Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world class service in the rental housing real estate business.  To learn more about Greystar, visit greystar.com.

About Stockbridge Capital Group
Stockbridge Capital Group (stockbridge.com) is a fully independent real estate investment management firm headquartered in San Francisco, California, with offices in New York, Chicago and Atlanta.  The firm’s portfolio is comprised of assets across the risk spectrum, spanning all major property types throughout the United States.  As of June 30, 2016, the firm’s total Assets Under Management was $9.9 billion.

About TH Real Estate
TH Real Estate, an operating division of TIAA Global Asset Management, is one of the largest real estate investment managers in the world with $97 billion in AUM (as of June 30, 2016).  Managing a suite of nearly 80 funds and mandates spanning both debt and equity across diverse geographies, sectors, investment styles and vehicle types, the firm provides access to every aspect of real estate investing.  With offices in 18 cities throughout the U.S., Europe and Asia Pacific, over 400 professionals and 60 years of investing experience, the platform offers deep local expertise coupled with a sophisticated global perspective.  TH Real Estate’s investment, asset management and corporate strategies grow from a deep understanding of the structural trends that will shape the future of real estate and responsible investing beyond market cycles.  This ‘Tomorrow’s World’ approach sits at the core of our investment process and business operations, informing our long-term view of real estate investments for the enduring benefit of both clients and society.  threalestate.com

About HFF
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF).  HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing.  For more information please visit hfflp.com or follow HFF on Twitter @HFF.

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