HFF announced today that it has secured joint venture equity and financing for a six-property multi-housing portfolio in Texas. HFF worked on behalf of Commerce Capital Partners, LLC (ComCapp) to secure joint venture equity through Harbert United States Real Estate Fund V (HUSREF V). In addition, HFF placed six separate 12-year, four-year, interest only, Fannie Mae loans with M&T Realty Capital Corporation. The capitalization will facilitate property improvements and the implementation of ComCapp s repositioning plan for the properties. The HFF debt and equity placement team representing ComCapp was led by associate director Robert Wooten, senior managing director Doug Opalka and managing director Matt Kafka.
Founded in 2007, ComCapp is a private real estate management and investment firm focused on commercial real estate in the Sun Belt primarily Texas. ComCapp seeks value-add and opportunistic investments where they can execute a thoughtful property enhancement plan by making both physical improvements to assets and implementing superior management practices. The firm s principles have been active in commercial real estate since 1984 and currently have ownership interest in more than sixty properties comprising more than 16,000 apartment units and 3.5 million square feet of commercial space in eight states.
HUSREF V is sponsored by Harbert Management Corporation ( HMC ). HMC, an alternative asset management firm with approximately $4 billion in assets under management as of June 1, 2014, is a privately owned firm formed in 1993 to sponsor alternative asset investment funds. HMC's real estate group, together with its sponsored funds, has owned, developed and managed multifamily, office, industrial, retail and self storage properties throughout the United States. HMC's real estate group has a history of identifying real estate investment opportunities through its network of long-term, strategic relationships. HUSREF V's approach is hands-on, targeting properties that the HUSREF V Investment Team believes are undervalued, and where value can be created through focused operational management.
M&T Realty Capital Corporation is a wholly-owned commercial mortgage-banking subsidiary of Manufacturers and Traders Bank, better known as M&T Bank Corporation. M&T Bank, founded in Buffalo, NY in 1856, is one of the 20 largest US headquartered commercial bank holding companies, with current assets of $83.2 billion and more than 725 branches throughout New York, Maryland, Pennsylvania, Washington, D.C., Virginia, West Virginia, New Jersey, Florida, Delaware and Toronto, Canada.