HFF Announces Sale and Financing of 3-Property Florida Apartment Portfolio

Nov 01, 2018 04:25 pm

Holliday Fenoglio Fowler, L.P. (HFF) announces the sale and financing of a three-property apartment portfolio totaling 1,048 units in the high-growth submarkets of Broward and Pinellas Counties in Florida.

The HFF team marketed the offering on behalf of the seller, and procured the buyer, a joint venture between KKR, a leading global investment firm, and Carroll Organization. Additionally, HFF’s debt placement team worked on the new owner’s behalf to secure three separate Freddie Mac-funded acquisition loans. The Hamptons, which was funded by Freddie Mac’s CME Program, is a 688-unit property located at 1400 Avon Lane in North Lauderdale. Vinings at Hampton Village, which is a 168-unit property located at 1200 Hampton Boulevard in North Lauderdale, and Sugar Mill Creek, a 212-unit community located at 8500 Belcher Road North in Pinellas Park, were funded by Freddie Mac’s Green Up Program. The securitized loans will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional and Green Advantage Loans. All three of the garden-style properties offer accessibility to neighboring employment centers, world-class retail and desirable recreational activities via nearby expressways.

The HFF investment advisory team representing the seller included senior managing director Roberto Casas, senior director Maurice Habif, managing director Jaret Turkell, senior managing director Matt Mitchell and director Zach Nolan.

HFF’s debt placement team representing the new owner consisted of managing director Elliott Throne, senior managing director Ed Coco and associate Ware Shipman.

About Carroll Organization

Carroll Organization is a fully integrated real estate investment company focused on acquiring and managing high-quality multifamily properties. Founded in 2004 by M. Patrick Carroll, the company has acquired over $3 billion of multifamily properties on behalf of its institutional partners, private investors, and its own principals. Carroll Organization's investment strategy utilizes its in-house capabilities to unlock value in properties that are perceived to be underperforming and undervalued. Through proactive management, redevelopment and specific submarket selection, the company aims to generate attractive risk-adjusted returns.

About HFF

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.

ROBERTO CASAS, (214) 265-0880
HFF Senior Managing Director
MAURICE HABIF, (305) 448-1333
FL Lic. #SL3253490
HFF Senior Director
ELLIOTT THRONE, (305) 421-6549
HFF Managing Director
OLIVIA HENNESSEY, (713) 852-3500
HFF Public Relations Specialist