WASHINGTON, DC – HFF announced today that it has brokered a relationship for the purchase and development of the View at Waterfront, a two-tower, 256-unit apartment complex with two future development sites in Washington, D.C.
HFF worked on behalf of Mill Creek Residential to procure John Hancock as their development partner in the transaction.
Designed by I.M. Pei in 1960 and fully renovated in 2008, the property is 93.6 percent leased with existing units averaging 688 square feet each. The existing building amenities include a swimming pool, outdoor fire pits and grill areas, Bark Park and fitness center. Planned development includes two new apartment buildings with approximately 250 additional units and new amenities, including a rooftop terrace with wet bar and grilling space, state-of-the-art fitness center with yoga studio, business center and 8,900 square feet of retail space. The property is located at 6th Street SW and M Street SW in Washington, D.C.’s Southwest submarket.
The HFF equity placement team was led by Walter Coker, Brian Crivella, Sue Carras and Dave Nachison.
”This project represents a great team effort by Mill Creek and John Hancock to provide a complicated capital solution to a very large complex transaction. We were pleased to be involved in the process,” said Coker.
Mill Creek Residential Trust LLC is a national multifamily company focused on the development, acquisition and operation of apartment communities in targeted markets nationwide. The company proactively pursues development and acquisition opportunities through its seasoned team of real estate professionals in 14 offices across the United States. Mill Creek is building its portfolio in many of the nation’s most desirable apartment markets in Seattle, Portland, the San Francisco Bay area, Southern California, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Washington, D.C., New Jersey, New York, and Boston. Currently, the company’s portfolio comprises 29 communities representing nearly 13,000 apartment homes that are operating, under construction or in planning.
HFF (Holliday Fenoglio Fowler, L.P.) 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 www.hfflp.com or follow HFF on Twitter @HFF.