HFF Announces Record Transaction Volume of $76 Billion During 2015
HFF, Inc. (NYSE:HF) announced today the year-end unaudited 2015 transaction volume of HFF, Inc.’s (the “Company’s”) operating partnerships (which consist of Holliday Fenoglio Fowler, L.P. (“HFF”) and HFF Securities, L.P. (“HFFS”)).
The Company reported record results for both its transaction volume, which it estimates at more than $76 billion, and its number of transactions, which it estimates at approximately 2,197 transactions, across the Company’s debt placement, investment sales, equity placement, and loan sales capital market platforms. This figure excludes transaction volume relating to HFFS’s advisory and consulting assignments, which are not reported due to the complexity of reporting such volume as disclosed in the Company’s previous filings with the Securities and Exchange Commission. HFF’s record 2015 annual transaction volume represents a gain of approximately 18% over the $65 billion transaction volume closed in 2014. The record number of approximately 2,197 transactions closed during 2015 represents an increase of 20%, or 369 more transactions than the 1,828 total transactions closed during 2014.
HFF’s debt placement volume in 2015 is estimated to be approximately $38.2 billion compared to $32.1 billion in 2014, which represents an approximate 19% increase.
HFF’s combined investment sales, equity placement, and loan sales volume is estimated to be approximately $38.1 billion compared to $32.8 billion in 2014, which represents an approximate 16% increase over 2014.
HFF’s commercial loan servicing portfolio balance is estimated to be approximately $48.7 billion on more than 2,640 loans serviced as of December 31, 2015, which represents an approximate 24% increase from the year-end 2014 portfolio balance of $39.3 billion on 2,467 loans serviced.
The amount of active private equity discretionary fund transactions on which HFFS has been engaged and may recognize additional future revenue was approximately $2.9 billion at year-end 2015, approximately 7% below the year-end 2014 volume of $3.1 billion.
This press release outlines the Company’s production volume totals, which are calculated from an internal database and have not been audited. Note that these amounts may be adjusted as the Company completes its review and audit of its fourth quarter and year-end results for 2015. No inferences about the Company’s fourth quarter 2015 earnings should be made from this announcement of transaction volume. The Company’s earnings for fourth quarter 2015 are currently scheduled to be publicly released in late February 2016. The Company has elected to release its production volumes at this time in order for HFF and HFFS to participate in several industry surveys which are important to their respective businesses.
“We believe the above results are due to the incredibly talented individuals comprising the HFF Team, whose exceptional work ethic, tremendous competency in the real estate capital markets, and unwavering passion to be the very best in their chosen profession continue to be rewarded by the largest owners of commercial real estate assets in the U.S.,” said Mark D. Gibson, the Company’s chief executive officer.
About HFF, Inc.
Through its subsidiaries, Holliday Fenoglio Fowler, L.P. and HFF Securities L.P., the Company operates out of 22 offices nationwide and is one of the leading providers of commercial real estate and capital markets services, by transaction volume, to the U.S. commercial real estate industry. The Company offers clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, equity placement, loan sales and commercial loan servicing.
Certain statements in this press release are “forward-looking statements” within the meaning of the federal securities laws. Statements about our beliefs and expectations and statements containing the words “may,” “could,” “would,” “should,” “believe,” “expect,” “anticipate,” “plan,” “estimate,” “target,” “project,” “intend” and similar expressions constitute forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results and performance in future periods to be materially different from any future results or performance suggested in forward-looking statements in this press release. Investors, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. Any forward-looking statements speak only as of the date of this press release and, except to the extent required by applicable securities laws, the Company expressly disclaims any obligation to update or revise any of them to reflect actual results, any changes in expectations or any change in events. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements. Factors that could cause results to differ materially include, but are not limited to: (1) general economic conditions and commercial real estate market conditions, including the recent conditions in the global markets and, in particular, the U.S. debt markets; (2) the Company’s ability to retain and attract transaction professionals; (3) the Company’s ability to retain its business philosophy and partnership culture; (4) competitive pressures; (5) the Company’s ability to integrate and sustain its growth; and (6) other factors discussed in the Company’s public filings, including the risk factors included in the Company’s most recent Annual Report on Form 10-K.
Additional information concerning factors that may influence HFF, Inc.'s financial information is discussed under "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Quantitative and Qualitative Disclosures About Market Risk" and "Forward-Looking Statements" in the Company’s most recent Annual Report on Form 10-K, as well as in the Company's press releases and other periodic filings with the Securities and Exchange Commission. Such information and filings are available publicly and may be obtained from the Company's web site at www.hfflp.com or upon request from the HFF, Inc. Investor Relations Department at firstname.lastname@example.org.
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