CHICAGO—HFF has just completed the sale of thefinal property of a 13-property multi-housing portfolio located ineight major metro areas throughout the US. The final property,Apex, is a 28-story, 271-unit, class A condominium tower indowntown Los Angeles.
The properties sold relatively quickly. HFF began marketed theportfolio on behalf of the seller, ST Residential,LLC in 2013. Due to confidentiality agreements, HFF couldnot disclose the separate costs, but collectively the assets soldto four separate groups for more than $900 million.
In addition to Apex, properties in the portfolio included: SanPedro Bank Lofts in San Pedro, CA; Mosaic II in Houston; 44 Monroein Phoenix; The Ogden, Juhl, One Las Vegas, Loft 5 and SpanishPalms in Las Vegas; The Element in Tampa; Mezzo in Atlanta;Highgrove in Stamford and The Lex in Chicago. Tenants occupy 93.2%of the portfolio, which has 3,128 units, an average year built of2008 and an average unit size of 1,215-square-feet.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
