Two Big Baltimore Finance Deals
HFF's Dave Nachison and Alan Davis (front), along with Brenden Flood and Bret Thompson (they're back right, accompanied by colleagues Brandon Wright and Ally Chrystal) arranged The DSF Group's sale of the 234-unit Halstead at Guilford apartment building on Charles Street between Johns Hopkins and Loyola. Cornerstone Real Estate Advisers was the buyer. Dave tells us the property isn't operated as student housing, but it has become the go-to for Hopkins students, thanks to the time, effort, and money DSF has invested. The neighborhood also features fairly old stock, he says.
HFF’s Tom Didio tells us bidders to provide the construction financing for Hekemian’s 662k SF Rotunda (apartments, retail, office, and parking) came in all sizes. Small to moderate-size lenders wanted to partner up, but Wells Fargo (the winner) and two others were willing to go solo on the $120M loan. Wells and Hekemian also have worked together for four years. Tom tells us opportunities for multiple lenders could surface down the line if the site were to be divided into separate tax parcels. HFF’s Cary Abod and Andrew Roland also worked on the deal.