HFF Arranges Equity Placement Totaling $28.9 Million for Orlando Apartment Development

CHICAGO, IL – Holliday Fenoglio Fowler, L.P. (HFF) announces it has arranged joint venture and preferred equity totaling $28.9 million to capitalize the development of Radius Apartments, a 13-story, 389-unit, Class A apartment project in Orlando, Florida.

The HFF team worked on behalf of an affiliate of Banner Real Estate Group to arrange $14.89 million in joint venture equity from Westminster Capital LLC and $14 million in preferred equity through a blue chip life company.

Radius Apartments will be situated at the corner of N. Rosalind Avenue and E. Livingston Street with sweeping views of Lake Eola to the southeast.  The centrally located development will also be adjacent to the Orlando CBD and within walking distance to the new LYNX SunRail Central station, nightlife amenities along Orange Avenue and the under-construction UCF Medical Downtown Campus.  Due for completion in 2020, the building will feature 12 stories of residential space situated above street-facing retail on the first floor, an adjacent six-story parking garage and a public courtyard.  The roof of the parking garage will be utilized as an amenity deck that will include a pool, cabanas, outdoor kitchen, dining and grilling area, bar and sun shelf.  A secondary amenity deck will provide quieter green space for outdoor yoga, bocce ball and lounge seating.  Additional amenities will include a dog run, bike parking and tenant storage.

The HFF equity placement team was led by managing director Matthew Schoenfeldt along with senior managing director Michael Weinberg, senior director Brett Moss, senior managing director Matt Mitchell and analyst Tyler Swidler.

HFF has arranged financing for other notable multi-housing developments in Downtown Orlando during the past 18 months, including $60 million for Lake House in Ivanhoe Village and more than $100 million for the mixed-use, student housing community at UCF’s urban campus at Creative Village.

About Banner Real Estate Group: Banner Real Estate Group and its affiliates (“Banner”) is a fully integrated group of real estate operating companies based in Northbrook, Illinois, focusing on the acquisition, management and development of multifamily properties and the development of self-storage facilities nationwide.  Since its founding in 1989, Banner has acquired and operated 49 multifamily properties and has developed 19 self-storage facilities and apartment communities, collectively worth over $1.2 billion. For information, visit bannerrealestategroup.com

About Westminster Capital: Westminster Capital manages real estate investment strategies on behalf of private wealth capital, including sponsorship of closed-end investment funds and separate account portfolios totaling $860 million of investor capital.  Westminster Capital makes commercial property investments throughout the United States across industrial/distribution, apartments, medical office and senior living properties offering value-add to opportunistic risk-reward returns.  Such work includes rebuilding income streams of existing properties or manufacturing them through new construction.  The firm employs careful investment underwriting and pursues well-funded tenants motivated by powerful, long-term secular trends in their needs for such properties.  Founded in 1988, the firm is headquartered in Lake Forest, Illinois.  For additional information, please visit WestminsterCapitalLLC.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.