CHARLOTTE, NC – Holliday Fenoglio Fowler, L.P. (HFF) announces $76.87 million in joint venture equity and construction financing for the development of Hazel SouthPark, a planned six-story, Class AA luxury apartment property in Charlotte’s SouthPark submarket.
The HFF team worked on behalf of the developer, ZOM Living, to arrange a $30.014 million joint venture partnership. The HFF team also secured $46.856 million in construction financing through TD Bank.
Hazel SouthPark will comprise 203 units within a podium-style building that will also include approximately 14,000 square feet of ground-floor, high-end retail space. Apartment units will average 1,168 square feet with a variety of ultra-luxury finishes, including gourmet-style kitchens with stainless steel appliances and quartz countertops, spacious closets, built-in cabinetry and private balconies. The property will feature management offices, a wellness center and spa, and resident lounge on the ground floor, as well as a landscaped resort-style pool deck, entertaining kitchen and lounge located on the rooftop. Hazel SouthPark is being constructed at 4401 Barclay Downs Drive immediately adjacent to the world-class SouthPark Mall and directly across from several Class A office buildings and Symphony Park. Completion is expected in 2019.
The HFF team included senior managing director Travis Anderson, managing director Justin Good and senior directors Cory Fowler and Allan Lynch.
“With its location in the heart of SouthPark, the property will provide tenants phenomenal walkability to employment, restaurants, shopping and entertainment making it a true live-work-play development,” Fowler said.
“We are excited to see Hazel SouthPark come to life given ZOM Living is an outstanding developer that has programmed a best-in-class development in an outstanding, dynamic location,” added Good.
About ZOM Living: ZOM Living is one of the most highly regarded luxury multifamily developers in the United States, and has joint ventured or directly developed over 18,500 apartment units nationwide with an aggregate value of nearly $3.5 billion. Throughout its 40-year history, ZOM has garnered more than 150 industry awards for project design and development expertise, including the prestigious National Multifamily Development Firm of the Year award and, most recently, two national Pillar Awards from the National Association of Homebuilders for Best Low Rise Project (Baldwin Harbor/Orlando) and Best High Rise (Monarc at Met3/Miami).
ZOM Carolinas, LLC is the regional development office for ZOM Living. ZOM Living is headquartered in Orlando, Florida, and has additional regional offices in South Florida, Texas and Washington, D.C. ZOM Living has 5,000 units currently under construction or in design/predevelopment throughout the U.S. with a total capitalization of $1.7 billion. For more information on ZOM’s multifamily portfolio, visit www.zomliving.com.
About HFF: 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 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.