SAN FRANCISCO, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged approximately $70 million in joint venture equity for the development of The Landing at Walnut Creek, a 178-unit, Class A multi-housing community in Walnut Creek, California.
HFF worked on behalf of the developer, BHV Centerstreet Properties, LLC, to source the equity from a U.S.-based life insurance company.
The Landing at Walnut Creek is situated on approximately 1.78 acres at the corner of Ygnacio Valley Road and Oakland Boulevard, directly across from the Walnut Creek BART station. Due for completion in late 2016, the transit-oriented property will have four levels encompassing approximately 145,648 rentable square feet above a 223-space parking garage. Community amenities include a fitness center, yoga studio, roof deck with lounge and outdoor resident activity areas.
The HFF equity placement team representing the developer was led by senior managing director Bruce Ganong and associate director Adam Simon.
“The recent closing marks the culmination of a complex assemblage of contiguous parcels that will allow the development of a housing community providing residents with convenient transit access to downtown San Francisco and other employment centers in the Bay Area, all while being only a short walk from the world-class shopping, dining and cultural attractions of downtown Walnut Creek,” said Ganong.
About BHV Centerstreet Properties, LLC: BHV Centerstreet Properties (BHVCP) is a private real estate development and services company based in the San Francisco Bay Area. BHVCP's strategy is to develop, lease and manage residential, retail and mixed-use projects on the West Coast, primarily in infill markets in the San Francisco Bay Area and Southern California.
About HFF: HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 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 hfflp.com or follow HFF on Twitter @HFF.