HFF secures $36.3 million financing for 292-unit multi-housing community in downtown Phoenix
PHOENIX, AZ – August 7, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $36.3 million in financing for Capital Place, a 292-unit, Class A multi-housing community in downtown Phoenix, Arizona.
HFF worked exclusively on behalf of the borrower, Epoch Residential, to place the three-year, floating-rate loan with a life company lender.
Capital Place is located on the eastern edge of downtown Phoenix near attractions such as the Phoenix Convention Center, Chase Field, Talking Stick Resort Arena, Phoenix Biomedical Campus and Arizona State University’s downtown campus. The transit-oriented, mid-rise community is also adjacent to the Phoenix Valley Metro light rail, which connects downtown Phoenix to Tempe, Mesa and the Phoenix Sky Harbor International Airport. Completed in 2016, Capital Place has 292 units averaging 827 square feet with high-end amenities, including stainless steel appliances, custom kitchen cabinets, granite countertops, faux wood flooring and covered balconies. The community also features a resort-style pool with spa, barbecue grills and private cabanas; state-of-the-art fitness center; clubhouse; business center; game and media room; controlled access and garages.
The HFF debt placement team representing the borrower was led by managing director Elliott Throne and senior director Brad Miner.
“Downtown Phoenix continues to attract capital from developers and lenders alike,” Miner said. “The property’s location on the light rail along with positive leasing momentum, institutional quality of the asset and strong sponsorship resulted in significant interest from various debt providers.”
About Epoch Residential
Epoch Residential is a fully integrated development, construction and management company that has managed over 100,000 multi-family units in more than 90 cities nationwide. The company has developed and built over 36,000 units in more than 55 cities nationwide since 1970, and has corporate offices in Winter Park, Florida.
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 commercial mortgage broker licensed with the Arizona Department of Financial Institutions, License Number CMB 0938500 and NMLS Number 1524298.