NEWPORT BEACH, CA – Holliday Fenoglio Fowler, L.P. (HFF) announces $96.5 million in financing for the development of 100 Columbia, a 348-unit, Class A+ high-rise multi-housing community in the Portland CBD.
The HFF team worked on behalf of the developer, Alamo Manhattan, to secure the four-year construction loan through PCCP, LLC. As previously announced, HFF also assisted Alamo Manhattan in securing joint venture equity for the project in a transaction closed in May 2018.
100 Columbia is located on a 0.92-acre site that spans the block bound by SW Clay Street, SW 1st Avenue, SW Columbia Street and SW 2nd Avenue. The site, which has a WalkScore® of 93, will support what will be the nearest high-rise residential building to the Willamette River in the CBD. The site is also one block from Tom McCall Waterfront Park to the east and Keller Auditorium to the west and is within three blocks of the CBD’s core job center that is home to more than two million square feet of high-rise office.
Due for completion in 2020, 100 Columbia will include a mix of studio, one- and two-bedroom ultra-luxury units averaging 817 square feet. The 20-story development will feature premium interior finishes and community amenities, including an expansive 15,000-square-foot, sixth-floor amenity terrace and a 20th-floor rooftop resident lounge, which will open onto an observation deck offering unobstructed views of the downtown skyline, Mount Hood and the river. The property will also include a 16th floor rooftop terrace. In addition to the multi-housing component, 100 Columbia will incorporate nearly 15,000 square feet of ground-floor retail, which will provide immediate convenience for residents and office employees in the surrounding area.
The HFF debt placement team representing the developer included senior director Mark Erland and director Matt Benson along with director Charlie Watson.
About Alamo Manhattan: Alamo Manhattan is a Dallas-based real estate firm primarily focused on developing best-in-class, mixed-use multifamily assets in core urban markets. The firm was founded in 2010 to pursue new development opportunities in core urban markets. Alamo Manhattan currently focuses on urban markets in Texas and the West Coast, and has completed, or has under construction, approximately $465 million in development projects located in Dallas, San Antonio, Seattle and Portland. The firm has a robust pipeline of future projects on sites that it either owns or controls, totaling over $225 million. The company is continuously seeking and evaluating new sites for development. For more information, visit alamomanhattan.com
About PCCP, LLC: PCCP, LLC is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has $8 billion in assets under management on behalf of institutional investors. With offices in New York, San Francisco and Los Angeles, PCCP has a 20-year track record of providing real estate owners and investors with a broad range of funding options to meet capital requirements. PCCP underwrites the entire capital stack to exploit inefficiencies in the market and provide investors with attractive risk-adjusted returns. Since its inception in 1998, PCCP has successfully committed $17 billion of capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures. PCCP continues to seek investment opportunities with experienced operators seeking fast and reliable capital. Learn more about PCCP at pccpllc.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.