News Blog - HFF Announces Sale of a 22 Property Portfolio worth $467 Million In Pennsylvania
ACCESS Newswire
LONDON, UK / ACCESSWIRE / October 12, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for HFF, Inc. (Holliday Fenoglio Fowler L.P.) (NYSE: HF), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=HF. The Company, which a leading provider of commercial real estate and capital markets services to the global commercial real estate industry, announced the sale of a 22-property, value-add multi-housing portfolio in the Pennsylvania location. This comprised the sale of 3,426 units, with a total value of $467 million. Property locations include suburban Philadelphia, Lancaster, Harrisburg, Wyomissing, Lehigh Valley, and northeastern Pennsylvania. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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In the transaction, the HFF investment sales team was representing the seller. The HFF team included Senior Managing Director Mark Thomson along with directors Carl Fiebig and Francis Coyne. Besides, Senior Managing Director Jose Cruz and Executive Managing Director Matthew Lawton were also a part of the team.
Services Provided by The HFF Team
HFF, together with its affiliates, provides its clients a fully integrated capital markets platform, including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing.
For this transaction, the HFF team basically marketed the properties in six sub-portfolios on behalf of the seller, i.e. Equus Capital Partners Ltd, which is among the country's leading private equity real estate fund managers. The diversified portfolio of Equus comprises office, multi-family, industrial, as well as retail properties located across the United States. Equus is headquartered in the Philadelphia area and has regional offices in Chicago, Los Angeles, Washington D.C., Boston, Atlanta, and Raleigh-Durham.
The properties were sold in phases to various buyers throughout 2017. Of these, the latest sale closing was at the end of September 2017.
Moreover, the HFF team also worked on behalf of the new owners for some of the transactions for securing acquisition financing.
About the Pennsylvania Properties
Senior Managing Director, Mark Thomson, expressed his pleasure on successfully marketing and closing all 22 properties within a year of launching the first sub-portfolio. He mentioned that the properties were diversified in terms of size ranging from 50 units to 400 units, and vintage - ranging from the early 1960s through the mid-2000s. Likewise, the properties were scattered in locations throughout the eastern half of Pennsylvania, from Harrisburg through suburban Philadelphia and into the Lehigh Valley.
He also shared that all the 22 properties in the portfolio attracted considerable interest from investors, small private groups as well as large institutions. HFF conducted a total of 113 tours throughout the process, which resulted in 68 offers.
Last Close Stock Review
At the closing bell, on Wednesday, October 11, 2017, HFF Inc.'s stock slightly advanced 0.51%, ending the trading session at $41.60. A total volume of 84.23 thousand shares have exchanged hands. The Company's stock price skyrocketed 19.44% in the last three months, 52.72% in the past six months, and 70.17% in the previous twelve months. Moreover, the stock soared 45.20% since the start of the year. The stock is trading at a PE ratio of 18.82 and currently has a market cap of $1.62 billion.
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