HFF Arranges Sale, Financing for Acquisition of Riverwalk at Millennium
CONSHOHOCKEN, PA. — HFF has arranged the sale of, as well as joint venture equity and acquisition financing for, Riverwalk at Millennium, a multifamily community in Conshohocken. A joint venture between Scully Co. and Long Wharf Real Estate Partners, which was arranged by HFF, purchased the 375-unit community from Riverwalk Realty Co. for an undisclosed price. HFF worked on behalf of the buyer to arrange a 10-year, floating-rate loan through Freddie Mac’s CME Program. The securitized loan will be serviced by HFF through its Freddie Mac Program Plus Seller/Servicer program. Situated on 7.9 acres at 309 Washington St., Riverwalk at Millennium features 239 one-bedroom units and 136 two-bedroom units, averaging 923 square feet. Community amenities include a clubhouse with fireplace, billiards and pub room; a resort-style swimming pool with sundeck; river views; a fitness center; and a business center with conference facilities. Mark Thomson, Zac Pierce, Jose Cruz and Kevin O’Hearn of HFF represented the seller in the transaction. Jim Cardranell, Ryan Ade and James Conley of HFF negotiated the financing for the deal.