HFF Announces $20.23 Million in Financing for 162-unit Apartment Property in Davidson, North Carolina

CHARLOTTE, NC – Holliday Fenoglio Fowler, L.P. (HFF) announces $20.23 million in acquisition financing for The Linden, a newly developed, 162-unit, mixed-use apartment property with approximately 6,000 square feet of ground floor retail in Davidson, North Carolina.

The HFF team worked exclusively on behalf of Raleigh, North Carolina-based Blue Heron Asset Management, LLC to secure the Fannie Mae loan through M&T Realty Capital Corporation.

The Linden is ideally positioned in the highly desirable and supply-constrained Charlotte suburb of Davidson, which provides nearby access to Lake Norman and walkability to the shops and amenities of Downtown Davidson as well as Davidson College.  Additionally, the property is surrounded by several major economic drivers, including MSC Industrial Supply Company’s U.S. headquarters, Ingersoll Rand’s North American headquarters and Lowe’s global headquarters. Furthermore, the property will benefit from the soon-to-be-completed Interstate 77 infrastructure improvements, which will allow for direct access to all of Charlotte, including Uptown.

Completed in 2016, The Linden consists of a mix of studio, one- and two-bedroom units along with more than 5,800 square feet of fully leased ground-floor retail.  Units feature open floor plans with modern finishes such as gourmet kitchens with granite countertops, European-style cabinetry, stainless steel appliances and wood-plank flooring.  Community amenities include a resort-style pool, grilling area, fire pit, state-of-the-art athletic club, clubroom, coffee bar, library, conference room and corporate suites.

The HFF team representing the borrower consisted of senior director Roger Edwards. Loan origination by M&T Realty Capital Corporation was led by managing director Robert Ryan.

About Blue Heron Asset Management, LLC: Blue Heron Asset Management, LLC, based in Raleigh, North Carolina, is a private equity real estate investment management firm.  The firm seeks to achieve superior risk-adjusted returns within well-balanced and actively-managed investment funds. Founded in 2011, Blue Heron’s track record demonstrates a firm that is disciplined, focused, and committed to sound real estate fundamentals.  The firm manages discretionary, opportunistic investment funds with a primary focus on multifamily and mixed-use real estate assets in high-growth southeastern markets. Blue Heron strives to be a trusted and reliable real estate investment manager, a mindful steward of the real estate and communities in which it invests, and a long-term partner that measures success in decades, not years.

About M&T Realty Capital Corporation: M&T Realty Capital Corporation is a wholly-owned commercial mortgage-banking subsidiary of Manufacturers and Traders Bank, better known as M&T Bank Corporation.  Founded in 1856 in Buffalo, New York, M&T Bank Corporation is a regional financial services company with more than $115 billion in assets.  M&T is a community-focused bank that serves customers in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and Washington, D.C. through more than 750 branches, 1,800 ATMs, and a variety of online and mobile services.

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.