HFF Arranges $134.685M in Sharia-Compliant Equity and Debt for 6-Property, Multi-State Student Housing Portfolio
27 February 2019 - 8:17AM
Business Wire
Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged
the capital stack of a six-property student housing portfolio
totaling 911 units with 2,059 beds in Alabama, Florida, Michigan,
New York, Pennsylvania and Texas.
HFF structured the Sharia-compliant joint venture between Vie
Management and a Middle Eastern asset manager. In addition, HFF
worked on behalf of the new partnership to secure a $75.385
million, 10-year, 65 percent LTV, interest-only loan.
The properties in the portfolio are University Downs Apartments
and Condos, a 222-unit property serving the University of Alabama
in Tuscaloosa, Alabama; University View, a 55-unit property serving
Florida Atlantic University in Boca Raton, Florida; Hillcrest
Oakwood Apartments, a 224-unit property serving Ferris State
University in Big Rapids, Michigan; Colonie Apartments, a 184-unit
property serving the University at Buffalo in Amherst, New York;
Southgate Apartments, a 151-unit property serving Penn State
University in State College, Pennsylvania; and Ella Lofts, a
75-unit property serving Texas State University in San Marcos,
Texas.
The HFF equity and debt placement team was led by London-based
managing director Claudio Sgobba along with licensed local HFF
teams in the respective markets, including managing director
Matthew Schoenfeldt, a Michigan licensed real estate broker;
director Scott Clifton; and senior global capital and equity
placement analyst Hank Huang.
“Vie is the first and only lifestyle brand within student
housing,” said Vie CEO Ari Rosenblum. “Our objective is to continue
to produce technology-rich environments where students can stream
and dream, socialize and exercise, all within our best-in-class
amenity driven spaces. These acquisitions are new canvases to us;
places to create experiential living environments where students
can watch live music, study at a coffee shop, or work out at the
best gym in town all within the confines of the community in which
they live.”
“We are extremely excited about our new partnership given it
will allow us to create value within a defensible niche,” Rosenblum
continued. “With these new acquisitions, we have taken a big first
step towards our collective goal of becoming the premier student
housing company in the world.”
“It was a privilege to bring together two world-class investment
firms as co-owners of this diverse, multi-state,
90-percent-occupied student housing portfolio,” Sgobba said. “We
look forward to assisting this new partnership in future
transactions as they grow their holdings in the student housing
sector.”
Holliday GP Corp. (“HFF”) is a Texas licensed real estate
broker.
About Vie Management
Vie Management is a privately owned real estate investment
company specializing in the financing, acquisition, development and
management of student and multifamily housing in the United States.
Headquartered in Miami, Florida, Vie has a successful track record
of acquiring student and multifamily housing and, through its
talented teams, creates a Vie lifestyle of learning, health, social
interaction and opportunities for self-improvement for its
residents. Vie Management promotes an innovative approach to
entrepreneurial creativity, self-expression and wealth creation for
all stakeholders. The success of its business depends on the trust
and confidence earned from its employees, clients and shareholders
as the company strives to cultivate a diverse and talented team to
perform at the highest level of customer service and ethical
standards.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190226006157/en/
Claudio SgobbaHFF Managing Director+44 20 7317
3115csgobba@hfflp.com
Matthew SchoenfeldtMI Lic. # 6504405163HFF Managing
Director(312) 528-3650mschoenfeldt@hfflp.com
Olivia HennesseyHFF Public Relations Specialist(713)
852-3403ohennessey@hfflp.com
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