Press Release brought to you by HFF

Sale of Flats 8300 in Bethesda, Maryland, closed by HFF

06/20/2016

WASHINGTON, D.C. – June 20, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Flats 8300, a 359-unit, luxury high-rise residential property with ground-floor retail in Bethesda, Maryland.

HFF marketed the property exclusively on behalf of the seller, a joint venture between StonebridgeCarras and an affiliate of Walton Street Capital, L.L.C.  Invesco Real Estate purchased the asset.

Recently completed in May 2016, Flats 8300 is located at 8300 Wisconsin Avenue along the Metrorail Red Line on a 1.6-acre site at the intersection of Battery Lane, just south of the National Institutes of Health and Walter Reed campuses.  The nine-story property is walkable to numerous retail, dining and entertainment amenities in the Bethesda Row and Woodmont Triangle areas of downtown Bethesda and is less than two miles south of the Capital Beltway (Interstate 495).  Flats 8300 encompasses a mix of studio to three-bedroom floor plans along with townhouse and penthouse options.  Anchored by a ground-floor Harris Teeter with Starbucks, the amenity-rich property also features breezeway and façade ornamentation by sculptor Kent Bloomer; a half-acre courtyard with water feature and sculptures by artist Barton Rubenstein; ninth-floor clubroom with billiards and bar; green rooftop with fireplace and demonstration kitchen; two rooftop swimming pools; fitness center; business center; pet spa; underground parking with electric car charging stations; and concierge service.

The HFF investment sales team representing the seller was led by Walter Coker, Brian Crivella and Stephen Conley.

“HFF is pleased to have been able to represent the seller on such a transformative asset to the Bethesda submarket,” Coker said.  “We were very excited to see that the market responded so well to the outstanding execution and core attributes of the asset.”

About StonebridgeCarras
StonebridgeCarras is a privately-held real estate investment and development firm based in Bethesda, Maryland focusing primarily on developing mixed-use properties in the Washington, D.C. metropolitan region.  During the past 20 years, the principals of StonebridgeCarras, LLC have been involved in the acquisition, development, joint venture, financing, and disposition of real estate assets in the Washington area exceeding $5 billion in value.

About Walton Street Capital, L.L.C.
Walton Street Capital, L.L.C. (Walton Street) is a private equity real estate investment firm based in Chicago.  Since its founding in 1994, affiliates of Walton Street have received total equity commitments of over $9.3 billion from public and corporate pension plans, foreign institutions, insurance companies and banks, endowments and foundations, trusts, and high net worth individuals.  Through its affiliates, Walton Street has invested and/or committed to invest $8.4 billion of equity in more than 330 separate transactions in U.S. and international real estate, including the development and acquisition of office, hotel, retail, industrial, multi-family, for-sale residential, senior and student housing, gaming and other assets through both individual, portfolio and company-level transactions with a gross asset cost of over $23 billion.

About Invesco Real Estate
Invesco Real Estate is a global leader in the real estate investment management business with over $67.7 billion in real estate assets under management, 444 employees and 21 regional offices across the U.S., Europe and Asia.  The firm was established in 1983 and has been actively investing in core, value-add and opportunistic real estate strategies since 1992.  Invesco Real Estate is a subsidiary of Invesco Ltd., (NYSE: IVZ), one of the largest investment management firms in the world with $771.5 billion in assets under management and on-the-ground presence in 25 cities worldwide.  Information as of March 31, 2016.

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.

Source

HFF

Want more news about HFF? Click here