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HFF Completes Capital Raise for Age-Restricted LI Project
Connect Apartments is coming up on June 26th in Los Angeles. Here’s a link to find out more about the conference and to register.
HFF has completed the capital raise for The Vineyards of Brookfield, a to-be-built, 146-home, age-restricted townhome community in the Long Island community of Center Moriches, NY. The $58-million project will be developer Ornstein Leyton Company’s fourth in the area, including the Vineyards at Moriches (pictured).
An HFF team of Evan Pariser, Rob Hinckley and David Fowler secured an investment from New York City-based Atalya Capital Management on OLC’s behalf. Hinckley said The Vineyards at Brookfield “takes advantage of the downsizing needs of the area’s aging population. Atalaya proposed a favorable common equity structure to invest in the project, given the attractive risk-return profile.”
The Vineyards at Brookfield will be situated on approximately 29 acres, near the intersection of Brookfield Avenue and Wading River Road. It will be completed in two phases, with the first delivering in 2019.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
