Local HFF Office Closes $100M in Multifamily Deals

ATLANTA-The local office of Holliday Fenoglio Fowler LP closed more than $100 million worth of multifamily transactions within December 2008. A total of six transactions were completed involving properties in North Carolina and Atlanta, HFF director Michael Cale tells GlobeSt.com.

“Five of the six transactions were closed with the first buyer that went under contract–a rarity in this market environment,” says HFF managing director Jason Nettles. The reason for that is because all but one of the buyers were private equity groups, he explains.

“Right now the institutional world is probably scared of its own shadow and is being more defensive as opposed to offensive,” Nettles says. “We have recently found that the private world is more reliable with closings.”