Thursday, January 17, 2019

Arbor Funds $1.4 Million Fannie Mae DUS® Small Loan in Sacramento, CA


Jared Stein

 UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR), a real estate investment trust and national direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare, and other diverse commercial real estate assets, recently funded a Fannie Mae DUS® Small Loan in Sacramento, CA. 

380 Morrison Avenue,
 Sacramenton, CA

Two properties, 380 Morrison Avenue and 2753 Del Paso Boulevard, received a combined $1.4M in funding through the Fannie Mae DUS Small Loan program. The deal comes with a 30-year fixed term.

Jared Stein of Arbor’s New York City office originated the loan.

“It was a pleasure working with a local investor in Sacramento who was looking to lock in long-term debt on two properties that were a mile away from each other,” Stein said.

“Thanks to Arbor’s creativity and flexibility, we were able to put these properties on one loan and subsidize processing costs for an emerging borrower.”

Built in 1991, 380 Morrison Avenue consists of six townhouse-style units totaling 6,144 square feet. Each unit is a two-story, two-bedroom residence offering washer/dryer hookups, patios and dedicated parking spaces.

2753 Del Paso Boulevard
Sacramenton, CA
 Built in 1963 and renovated in 1985, 2753 Del Paso Boulevard consists of seven units totaling 4,856 square feet. 

The units are wheelchair accessible and provide air conditioning and high-speed internet access.


CONTACTS:

Bina Handa
Tel: 516.506.4229

Arbor Realty Trust, Inc.
333 Earle Ovington Blvd, Suite 900
Uniondale, NY 11553
800.ARBOR.10

HFF Atlanta establishes industrial investment advisory team with hiring of Dennis Mitchell and Matt Wirth


Matt Wirth
ATLANTA, GA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has established a dedicated industrial investment advisory team in its Atlanta office with the addition of senior managing director Dennis Mitchell and managing director Matt Wirth.  

Mr. Mitchell and Mr. Wirth will be a part of HFF’s national industrial investment advisory team led by executive managing director Jody Thornton and senior managing director Rusty Tamlyn. 

The team joins HFF from Colliers International, where they were both senior vice presidents and principals, and collectively closed more than $2.5 billion of industrial transactions totaling more than 36 million square feet.

Dennis Mitchell
Mr. Mitchell has more than 30 years of experience in the commercial real estate industry. 

He is a Certified Commercial Investment Member (CCIM) and a previous board member of the Georgia Chapter of the Society of Industrial and Office Realtors (SIOR), as well as a member of the Atlanta Commercial Board of Realtors. 

Mr. Mitchell holds a BBA in Finance from the University of Georgia.

Mr. Wirth has more than 15 years of experience in brokerage, acquisitions, capital markets and asset management.  

Rusty Tamlyn
He is an active member of the National Association of Industrial and Office Properties (NAIOP) and the Atlanta Commercial Board of Realtors (ACBR).  Mr. Wirth is also a graduate of the University of Georgia, holding a Bachelor of Business Administration degree in Real Estate.  

“We are extremely honored and excited to have Dennis and Matt join HFF,” said Thornton.  “As with any new hire, we wait patiently for the right team and cultural fit, and Dennis and Matt could not be more well suited to our firm. 

"We are excited to build on our market-leading industrial practice in the Southeast and enhance our service offering to our clients.”

“We have had great success in building out the full spectrum of HFF’s integrated capital markets platform in the Atlanta office,” added Ed Coco, senior managing director and co-head of HFF’s Atlanta office.  

Jody Thornton
“Over the past year, we have added professionals to our multi-housing, office, hotel, land and now industrial investment advisory teams as well as to our debt placement group.”

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. 

 HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing.  

HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). 

Ed Coco

 For more information, please visit hfflp.com or follow HFF on Twitter @HFF.


CONTACTS:

JODY THORNTON
HFF Executive Managing Director
(214) 265-0880

ED COCO
HFF Senior Managing Director
(404) 832-8460
ecoco@hfflp.com

KRISTEN MURPHY
HFF Director, Public Relations
(617) 848-1572
krmurphy@hfflp.com


Tuesday, January 15, 2019

HFF announces $24.8 million sale of San Diego-area industrial park



Kara Mathis

SAN DIEGO, CA – HFF announces the $24.8 million sale of Haffley Industrial Park, a fully leased, two-building industrial park totaling 146,700 square feet in the San Diego-area community of National City, California

Nick Psyllos
The HFF team represented the seller, Presidio Property Trust.  KKR purchased the property. 

Situated on two separate parcels totaling 6.1 acres, Haffley Industrial Park is located at 2011, 2013 and 2010 Haffley Avenue and 940 West 19th Street in National City, an infill, coastal area less than seven miles south of downtown San Diego. 


The property, which is near the Naval Base San Diego, is in a last-mile location approximately half a mile from the Unified Port of San Diego and eight miles from the San Diego International Airport.  

Additionally, the park has immediate access to Interstate 5 and is less than 12 miles from the U.S. border with Mexico.  Haffley Industrial Park features clear heights ranging from 18 to 24 feet, wide truck courts, a total of seven dock-high doors, 11 grade-level doors and a low office finish.  Originally constructed in 1971, the buildings were recently renovated.

The HFF investment advisory team representing the seller included senior managing director Nick Psyllos, senior director Nick Frasco and senior associate Kara Mathis.

Nick Frasco
“KKR recognized that the Haffley Industrial Park was a rare opportunity to acquire functional industrial real estate in a highly sought-after infill location very close to both Naval Base San Diego and downtown,” Psyllos said. 

 “There are excellent demand drivers in place with numerous defense contractors who find this location to be ideal to service Navy vessels.  Haffley Industrial Park is located just west of Interstate 5 via Bay Marina Drive in National City.”

Holliday GP Corp. ("HFF") is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

For additional information about KKR& Co. Inc. (NYSE:KKR), please visit KKR's website at www.kkr.com and on Twitter @KKR_Co.


CONTACTS:

NICK PSYLLOS
CA Lic. #00788060
HFF Senior Managing Director
(858) 552-7690

NICK FRASCO
CA Lic. #01819400
HFF Senior Director
(858) 552-7690

KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420

Marcus & Millichap Arranges $350,000 Sale of Naples, FL Office Building


Jaclyn Blair

NAPLES, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of St. Andrews Boulevard Office, a 3,130-square foot office property at 101 St. Andrews Boulevard in Naples, Fla., according to Ari Ravi, regional manager of the firm’s Tampa office.

 The asset sold for $350,000.

Jaclyn Blair, an investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. 

St. Andrews Boulevard Office Building
101 St. Andrews Boulevard, Naples, FL
“We generated three competitive offers and ultimately sold to a cash buyer that offered a quick closing with no contingencies,” says Jaclyn Blair.

St. Andrews Boulevard office is a free-standing property with large amounts of parking in Naples. Originally built in 1973, the property is currently being used as a school. Zoning allows the property to be used for similar purposes including an adult day care. It is one block off of the heavily traveled U.S. 41 with 40,000 cars per day.

CONTACTS:

Ari Ravi
Regional Manager, Tampa
(813) 387-4700


Whitney Davis
Marketing Coordinator
Marcus & Millichap
201 North Franklin St.
Suite 1100
Tampa, FL 33602
(813) 387-4700 main
(813) 387-4743 direct
(813) 387-4710 fax
whitney.davis@marcusmillichap.com




Arbor Funds $1.6 Million Freddie Mac SBL Deal in Brownsville, TX


 
Sam Gold
  
UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a real estate investment trust and national direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare, and other diverse commercial real estate assets, recently funded a Freddie Mac SBL deal in Brownsville, TX.  

7900 Topo Chico Circle, a 24-unit multifamily property, received $1.6M in acquisition funding through the Freddie Mac SBL program.
The deal is a structured 1031 exchange with a 73% LTV ratio.

Sam Gold of Arbor’s Dallas office originated the loan.

7900 Topo Chico Circle, Brownsville, TX
 “Our client owns several complexes in the area and has seen growth in rents and values over the last few years,” said Gold. “This property has tremendous potential and the client plans to make improvements.

"For more than 10 years, he has benefitted from 1031 exchanges as a result of the strong partnership established with Arbor.”

Built in 2009, the multifamily property offers duplex units equipped with HVAC systems, washer/dryer units, patios and modern appliances/finishes. The property also features parking garages and recreational amenities.


CONTACT:

Bina Handa
Tel: 516.506.4229

Arbor Funds $9.5 Million Fannie Mae DUS® Loan in Ridgeland, MS


Ryan Duff

UNIONDALE, NY (Jan. 15, 2018) – Arbor Realty Trust, Inc. (NYSE:ABR), a real estate investment trust and national direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare, and other diverse commercial real estate assets, recently funded a Fannie Mae DUS® Loan in Ridgeland, MS.

Ridgeland Ranch Apartments, a 138-unit multifamily property, received $9.5M in funding through the Fannie Mae DUS Loan program. The loan comes with a 12-year fixed rate term.

Ryan Duff of Arbor’s New York City office originated the loan. 

“Arbor was able to utilize Fannie Mae’s product towards a solution that worked for our customer in a changing rate environment,” said Duff. “The terms allowed the sponsor to lock in a low, fixed rate for 12 years and also funded capital improvements that will help enhance quality of living for the tenants.”

Ridgeland Ranch Apartments, Ridgeland, MS

Built in 1974, Ridgeland Ranch Apartments offer many amenities, including wood burning fireplaces, covered balconies/patios, self-service laundry, a fitness center, playground, swimming pool and beautiful landscaping. 

The complex is conveniently located next to shopping centers, restaurants and recreational areas.


CONTACTS:


Bina Handa
Tel: 516.506.4229

HFF expands its investment advisory team with addition of managing director Jason Schmidt in Denver, CO




DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has expanded its investment advisory team with the addition of managing director Jason Schmidt in its Denver office. 

Larry Thiel
Mr. Schmidt is a 20-plus year veteran of the commercial real estate industry and joins HFF from JLL Capital Markets Group where he was an executive vice president responsible for the disposition of office, retail and industrial buildings in the region. 

 He has a wide range of experience in the industry and has held positions at Signature Equities, Pace Properties, Cushman Wakefield and Cassidy Turley. 

 Mr. Schmidt is on the Colorado State Board for the International Council of Shopping Centers and a member of the National Association of Industrial and Office Properties and has been recognized as a “Heavy Hitter” by the Denver Business Journal. 

Nate Perry
 He holds a Bachelor of Arts in Psychology and a Master of Business Administration from Drake University, and a Master of Real Estate and Construction Management from the University of Denver. 

Mr. Schmidt will have a dual focus on both office and retail investment advisory transactions.  In the office sector, he will co-lead HFF Denver’s private client/middle market investment advisory team with managing director Larry Thiel, who joined the firm in late November. 

 Mr. Schmidt and Mr. Thiel will work with HFF director Nate Perry to pursue private client office transactions in the Rocky Mountain region. 

Chad Murray
Additionally, Mr. Schmidt will work with Thiel and HFF director Chad Murray to lead HFF’s retail investment advisory practice in the Rocky Mountain region.

“Jason and Larry are two very well-known and respected veterans of the Denver commercial real estate industry and we are very excited to bring them together at HFF to form a dedicated team focused on the private client space in the Denver area as well as institutional retail sales,” said Mark Katz, senior managing director and co-head of HFF’s Denver office. 

 “HFF is very focused on increasing our market share in both of these spaces and we now have the team to do that.”

 “Jason and I have a longstanding history, attending high school together and training athletically at the collegiate level,” Thiel added. 

Mark Katz
 “We have continued our friendship while working alongside each other in the Denver commercial real estate industry over the years. I’m honored to now partner with him professionally and start a new chapter as one team at HFF.”

CONTACTS:

MARK KATZ
CO Lic. #100074002
HFF Senior Managing Director
(303) 515-8000

KRISTEN MURPHY
HFF Director, Public Relations
(617) 848-1572
krmurphy@hfflp.com


Broadmark Real Estate Management Relaunches Broadmark Real Estate Lending Fund II on Real Crowd


Adam Hooper
 Portland, OR (Jan. 15, 2019) – Broadmark Real Estate Management II, LLC (“BREM”), a private lender serving small to mid-sized builders and developers in the Mountain West, has relaunched its open-ended fund, “Broadmark Real Estate Lending Fund II” (“BRELF II”) on RealCrowd, one of the nation’s leading direct investment online real estate platforms.

The fund, which currently has $359 million in AUM, underwrites short-term, first position loans to finance real estate transactions in Colorado, Utah and Texas. 

 Investors are immediately diversified across the entire portfolio of 125 conservatively underwritten loans.

“Our platform is unique among crowdfunding providers based on the ability for investors to establish a direct relationship with the real estate sponsor,” says Adam Hooper, Co-Founder and CEO of RealCrowd.

“Many of today’s crowdfunding sites function like a hedge fund, which can drive up fees on both sides. To keep costs low and give everyday accredited investors access to institutional-quality investments, RealCrowd serves as a direct marketplace where these entities build new relationships.”

Adam J. Fountain
  BRELF II has generated annualized returns in excess of 11-percent since inception.

“There is a significant gap in the market for short-term real estate financing,” says Adam Fountain, co-owner of BREM. “Short-term loans are typically used to develop, renovate, or improve a commercial or residential property.

"We are satisfying an unmet need for short-term financing while offering an investment product poised to deliver strong risk-adjusted returns to our investors for the long-term.”

Mr. Fountain notes that many smaller regional banks, which in the past provided short-term debt, were forced to close their doors or were absorbed by larger banks following the 2008 financial crisis.

“Small regional banks that survived the Great Recession rarely provide short-term financing in the current market as a result of more restrictive regulations,” says Mr. Fountain. “This creates a gap in the credit market and an opportunity for us and our investors.”

Broadmark Real Estate Lending Fund II is targeting a fundraise of approximately $10 million through the RealCrowd crowdfunding platform.

"To date, our firm has raised more than $30 million in capital through the RealCrowd platform.”

RealCrowd also has a high bar for approval to be featured on its marketplace. The firm ensures that each real estate Sponsor on its platform has more than 10 years of principal-level experience and more than $50 million in transactional history, while also ensuring that each investor is accredited.

RealCrowd is one of the nation’s leading direct investment online real estate platforms. As one of the first real estate equity crowdfunding companies, the firm has hosted more than $4.5 billion in real estate offerings through its platform, spanning more than 170 investments across 38 states.

Headquartered in Portland, Oregon, RealCrowd is backed by venture capital seed accelerator Y Combinator in 2013.


CONTACTS:

Lexi Astfalk / Jenn Quader
Brower Group Inc.
949.955.7940


Marcus & Millichap Arranges $5.7 Million Sale of Medical Office Building in Lithia, FL


Krone Weidler

LITHIA, FL, Jan. 15, 2019 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of FishHawk HealthPark, a 21,640-square foot office property located in Lithia, Fla., according to Ari Ravi, regional manager of the firm’s Tampa office.

 The asset sold for $5,700,000.

Jaclyn Blair, Krone Weidler and L.J. Tsunis, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. 

The buyer, a limited liability company, was secured and represented by Dana Speeran investment specialist in Marcus & Millichap’s Tampa office. 

“Fishhawk Healthpark attracted substantial interest from both healthcare specific buyers and private investors across the southeast. The strategic location of the asset and the quality of the tenant mix resulted in a total of 8 offers and substantial proceeds for the seller,” says L.J. Tsunis.

Jaclyn Blair

“FishHawk Medical Plaza provided a strong tenant mix in a growing location for my buyer who was involved in a complex 1031 exchange. This asset offered her an opportunity to own a stable, long-term asset close to home that met her return requirements,” adds Dana Speer.

“Fishhawk Healthpark attracted substantial interest from both healthcare specific buyers and private investors across the southeast. The strategic location of the asset and the quality of the tenant mix resulted in a total of 8 offers and substantial proceeds for the seller and ultimately sold to a private investor in a 1031 exchange,” says Jaclyn Blair.

FishHawk HealthPark, consists of a two, one-story buildings, for a combined 21,640 square feet. The buildings are new, modern medical office space with construction completed in 2016 and 2017.

L.J. Tsunis
 FishHawk HealthPark is the only medically zoned space in the newest phase of this planned community and is located on a busy corner of FishHawk Boulevard with 18,000+ vehicles per day. 

Currently 90.4% occupied, tenants include BayCare Medical Group, Pediatric HealthCare Alliance, Comprehensive Center for Dermatology, iHeart Smiles Pediatric Dentist, Watts Dental, Chiropractor and a pharmacy.

With over 1,800 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services.

Fishhawk Healthpark, 5611 Skytop Drive, in the planned residential community of FishHawk West. Lithia, FL

Founded in 1971, the firm closed over 9,000 transactions in 2017 with a value of approximately $42.2 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.

To learn more, please visit: www.MarcusMillichap.com


CONTACTS:

Ari Ravi
Regional Manager, Tampa
(813) 387-4700


Whitney Davis
Marketing Coordinator
Marcus & Millichap
201 North Franklin St.
Suite 1100
Tampa, FL 33602
(813) 387-4700 main
(813) 387-4743 direct
(813) 387-4710 fax
whitney.davis@marcusmillichap.com