WASHINGTON, DC – Holliday Fenoglio Fowler, L.P. (HFF) announces $8.435 million in joint venture equity for the acquisition of The Moderne and The Verano, two apartment communities totaling 116 units in downtown Stamford, Connecticut.
The HFF team worked on behalf of Navarino Capital Management LLC to arrange joint venture equity for the acquisition of the two properties through a national life insurance company.
The Moderne, a 58-unit property built in 2013 and located at 163 Franklin Street, and The Verano, a 58-unit property built in 2014 and located at 750 Summer Street, are in the heart of the Stamford CBD. The properties feature high-end amenities, including full-sized balconies, stainless steel appliances and state-of-the-art fitness centers. Residents have immediate access to more than 15 million square feet of office space, numerous restaurants and retail amenities as well as entertainment, healthcare and outdoor recreation. Stamford allows commuters access into Manhattan via the Connecticut Turnpike (Interstate 95) and the Metro-North train station, which is the busiest train station outside of Grand Central Terminal.
The HFF equity placement team representing Navarino Capital Management included senior directors Chris Hew and Peter Rotchford.
About Navarino Capital Management: Navarino Capital Management, founded in 2009, is the investment partnership arm of a 2nd generation Connecticut multifamily owner/operator with over 35 years of combined multifamily experience. Navarino’s principals have owned over 2,000 units in more than 40 properties. For more information, visit navarinocapital.com
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.