Wednesday, April 23, 2014

New Research Shows Most Professional Services Firms in Atlanta are in Midtown

  
Jeff Keppen

 ATLANTA, GA – Sixty-two percent of all metro Atlanta professional services firms are now located in Downtown, Buckhead and Midtown — with the majority in Midtown — according to new research commissioned by CBRE Global Investors. 

 These three neighborhoods, serving collectively as Atlanta’s central business district, grew their headcount of professional service workers by nearly 17 percent over the past decade.

This is an increase of 3,557 jobs. Of the three neighborhoods, Midtown was the clear winner, capturing 66 percent of the new professional services firms, or 2,365 jobs.

 Professionals services firms nationwide are wrestling with a generational shift that is changing the way they work and use office space.

 Research shows a trend in office site selection as employers aim to attract young Gen Y professionals by locating in trendy urban centers that offer a mix of residential options, shopping and entertainment in a walkable setting.

 “This new research indicates that professional services firms are flocking to Midtown,” says Jeff Keppen, Senior Vice President at CBRE. “When firms are looking to attract young talent, they need to be in a vibrant walkable neighborhood, and in Atlanta that’s neighborhoods like Midtown and Atlantic Station.” 
  
An in-depth whitepaper with new findings and analysis can be downloaded at http://www.27117thstreet.com/cbre_prosvcfirms.pdf.

 For a complete copy of the news release, please, contact:

Elizabeth Hagin
The Wilbert Group
+1 404 748 1367

Hold-Thyssen Negotiates Lease Renewal at Willowbrook Square in Lake Wales, FL


Martin Forster
ORLANDO, FL  --- Hold-Thyssen Real Estate Services recently completed a five-year renewal lease for 1,400 square feet of retail space at Willowbrook Square, 24174 Highway 27 in Lake Wales.

Martin Forster CCIM of Hold-Thyssen in Winter Park negotiated the transaction representing the landlord at Willowbrook Square.

 Tenant Low Ball Louie’s, a tobacco products retailer specializing fine cigars, has been a very successful store at this highly visible location in a growing retail hub that’s recovering with the economy comeback as well as tourist traffic generated by the nearby Legoland attraction, Forster said.

 Hold-Thyssen provides commercial property brokerage, leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current management portfolio includes more that 100 commercial properties throughout the United States.

For a complete copy of the news release, please, contact:

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com

Tuesday, April 22, 2014

HFF secures acquisition financing for Denver, CO multi-housing community


Eric Frank
SAN DIEGO, CA – HFF announced today that it has secured acquisition financing for Fairways at Lowry, a 450-unit multi-housing community in the Lowry submarket of Denver, Colorado.

                HFF worked on behalf of a joint venture between Cardinal Group Investments LLC and Capital Solutions to secure the 12-year fixed-rate loan through FNMA.  The loan was used to acquire the property and will provide funds for capital improvements to the property.

                The Fairways at Lowry is situated on a 14.5-acre site across from the Common Ground Golf Course at 9913 E 1st Avenue in east Denver.

 The property is positioned near three redevelopment sites; the decommissioned Lowry Air Force Base, Denver’s Stapleton Airport, as well as the Fitzsimons Life Science District and the Anschutz Medical Campus. 

Pat Burger
The sponsor’s renovation plan will include renovating interiors of all 450 units as well as landscaping improvements and an amenity suite upgrade.

“We’re very excited to add the Fairways at Lowry to our growing portfolio of multifamily assets,” said Eric Frank, managing principal of Cardinal Group.

“We believe that Lowry, Stapleton and Fitzsimons, which combined have created nearly $10 billion in redevelopment activity, have just begun to impact this submarket and we’re excited to get to work and to take advantage of this opportunity.”  

                The HFF debt placement team representing the borrower was led by directors Pat Burger and Josh Simon and senior managing director Tim Wright.

                Cardinal Group is a fully integrated real estate investment, development, management and advisory firm specializing in opportunistic and value-added investments throughout the United States. 

Josh Simon
  The firm acts as a sponsor of private equity real estate partnerships and provides asset management services through its investment company, Cardinal Group Investments, LLC (“CGI”). 

  CGI’s affiliate management company, Cardinal Group Management, LLC (“CGM”), provides property and construction management services to all CGI’s owned assets as well as to outside owners on a third-party basis.   

Capital Solutions is a Philadelphia-based investment firm specializing in real estate and private equity investments

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel (main) 617-338-0990 | (direct) 617-848-1572 | cel 617.543.4873 | www.hfflp.com

HFF closes sale of and secures financing for luxury apartment tower in downtown Chicago’s West Loop


Trio Apartments, Downtown Chicago, IL

Mona Carlton
CHICAGO, IL – HFF announced today that it has closed the sale of and secured financing for Trio Apartments, a 100-unit, boutique-style luxury apartment tower in downtown Chicago.

                HFF marketed the property on behalf of the seller, a joint venture between AEW Capital Management, L.P. and Marquette Companies.  AEW sold the property on behalf of AEW Partners VI, L.P., the sixth in AEW’s opportunistic fund series.  Abacus Capital Group LLC purchased the asset free and clear of existing debt. 

HFF also secured an acquisition loan on behalf of the buyer through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME program. 

  The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program. 

Sean Fogarty
Completed in 2010, the 22-story tower has 100 units averaging 1,047 square feet each.  Located at 670 West Wayman in the eastern sector of the West Loop neighborhood, Trio offers residents a walk-to-work location and nearby access to public transportation including CTA and Metra train lines.

 The future Chicago headquarters of Google is located six blocks west of Trio Apartments and in 2014 Google’s Motorola Mobility office will open just six blocks east of the property.

 Amenities include a rooftop garden, fitness center, business center, community room, indoor assigned parking and 24-hour door staff.  Additionally, the property is situated adjacent to a park with dog run and a retail development that includes a Jewel-Osco grocery store.

The HFF investment sales team representing the seller was led by managing directors Sean Fogarty and Marty O’Connell and executive managing director Matthew Lawton.

HFF’s debt placement team was led by senior managing director Mona Carlton and managing director Matthew Schoenfeldt.

Marty O'Connell
Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide. 

One of the world’s leading real estate investment advisors, AEW and its affiliates manage approximately $38 billion of capital invested in more than $51 billion of property and securities in North America, Europe and Asia (as of December 31, 2013).

 Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Singapore, and Hong Kong, as well as additional offices in eight European cities. 

Abacus Capital Group LLC is a New York-based institutional advisory firm focused on the multifamily sector nationwide.  This asset was purchased by a fund sponsored by Abacus. 

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel (main) 617-338-0990 | (direct) 617-848-1572 | cel 617.543.4873 | www.hfflp.com


Marcus & Millichap Arranges Sale of Apollo Beach, FL Mini Storage for $2.15 Million

  
Michael A. Mele
 APOLLO BEACH, FL, April 22, 2014 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Apollo Beach Mini Storage, a 39,310-square foot self-storage facility located in Apollo Beach, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $2,150,000.

Luke Elliott, investment specialist and Michael A. Mele, a first vice president investments in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company based in California. 

  The listing agents also procured the buyer of the property, a local private investor.

Apollo Beach Mini Storage is a fully stabilized self-storage facility built in 1999.  The property is located at 313 Apollo Beach Boulevard in Apollo Beach, Florida and consists of 366 units.  

Luke Elliott
There are a total of ten single-story buildings stretching across 2.73 acres of land.  Wide driveways allow for easy unit accessibility, and RV and boat storage is readily available. 

“The strength and volume of offers received on this asset is a testament to the wide range of investors interested in stabilized facilities like Apollo,” says Elliott.


For a complete copy of the company’s news release, please contact:

Richard D. Matricaria
Regional Manager, Tampa

(813) 387-4700

Franklin Street Arranges Sale of Hialeah Apartments For $2.95 Million; Market continues to heat up across South Florida

              
Deme Mekras

MIAMI, FL  — Franklin Street Real Estate Services announces the sale of 30-unit apartment building in Hialeah, Fla. for $2.95 million or $136.00 per square foot.  

Deme Mekras, Elliot Shainberg, and David Reinke, all of Franklin Street Real Estate Services, represented the seller, a local family partnership. The buyer was an investor from Haiti who paid all cash, said Mekras, regional managing partner for Franklin Street’s Miami office.

 “Hialeah is one of the hottest areas in the Miami metro area for apartment rentals,” said Mekras. “Occupancies are higher in this sub-market than any other in Southeast Florida. Investors are recognizing that market security and are willing to pay top dollar for the dependability.”

 Mekras said most of the multifamily investors in Hialeah are local or regional players, but he’s now seeing more foreign dollars flowing into the area.

Elliott Shainberg
“Traditionally, foreign investors have concentrated on Miami and the beaches, but they are now seeing opportunities all over South Florida,” said Mekras.

 “They are buying wherever they see strong fundamentals and the potential for long-term value. Hialeah is one of those areas.” Mekras and his team closed this particular deal within 90 days from listing to closing, further indicating a heated market in South Florida.

Mekras said the buyer plans to improve the parking lot, add new railings and a fresh coat of paint to enhance the property, located at 1255 W Okeechobee Road.


For a complete copy of the company’s news release, please contact:

Ashley Fierman
Boardroom Communications                                                                                                                        954-370-8999/954-330-1554


Gov. Nathan Deal Appoints Sachin Shailendra to the Board of Regents of the University System of Georgia

  
Sachin Shailendra

 ATLANTA, GA (April 22, 2014) — Sachin Shailendra, president of SG Contracting, has been appointed to the Board of Regents of the University System of Georgia by Gov. Nathan Deal. SG Contracting is a full-service construction management and general contracting company based in Atlanta.

“My appointment to this prestigious board, filled with men and women whom I highly respect, is such an honor,” Shailendra said. “I look forward to contributing to this distinguished group and making the best decisions I can for the University System of Georgia.”

Shailendra was sworn in on April 15. The board includes 19 members that oversee 31 colleges and universities throughout the state. 

Five members are appointed from the state-at-large, and one from each of the state’s 14 congressional districts. The board also supervises the Georgia Archives and the Georgia Public Library System.

Gov. Nathan Deal
Shailendra, a graduate of Georgia Tech, is also on the Atlanta Opera Board and the Children’s Healthcare Sports Network Board. 

He previously served on the Alexander-Tharpe Fund Board of Trustees, the Board of Visitors for Emory University, the Georgia Network to End Sexual Assault, the Georgia Chamber of Commerce’s Government Affairs Council, and as president of the Woodward Academy Alumni Association.

As an alumnus of Woodward Academy, he sits on the advisory council for the private institution.

For a complete copy of the company’s news release, please contact:

Stephen Ursery
The Wilbert Group
404-549-7150 (O) 404-405-2354 (C)

Monday, April 21, 2014

Arbor Appoints Garth Davis as SVP, Western Regional Director in San Francisco


Garth Davis
 UNIONDALE, NY– Arbor Commercial Mortgage, LLC (“Arbor”) today announced the appointment of Garth Davis as Senior Vice President and Western Regional Director.

Mr. Davis is responsible for originating Fannie Mae, FHA/HUD, CMBS, Bridge, Mezzanine and Preferred Equity transactions for multifamily and healthcare properties nationwide. 

He is based in the company’s San Francisco, CA, office and reports to John Caulfield, Chief Operating Officer.

Mr. Davis brings 14 years of nationwide lending experience to Arbor across FHA, agency and CMBS financing platforms for both the multifamily and healthcare sectors.

 His comprehensive finance transaction expertise includes, short- and long-term financing, fixed- and floating-rate debt, new construction, acquisitions, refinancings, debt restructurings and capital structuring.
  
Most recently, Mr. Davis was successful in originating a $70-million multifamily acquisition transaction structured utilizing floating-interest-only bridge financing with an eventual FHA/HUD permanent loan. It directly met the clients’ objectives of initial short-term debt, maximized proceeds and cash flow and, subsequently, low-risk, long-term, fixed-rate permanent debt.

For a complete copy of the company’s news release, please contact:

Christopher Ostrowski

Connor Doherty Joins Blueprint Healthcare Real Estate Advisors as Associate

                                                                

Conner Doherty
CHICAGO, IL – Blueprint Healthcare Real Estate Advisors has announced that Connor Doherty, 28, has joined the firm as an associate.

Doherty brings an established real estate track record to Blueprint, having exclusively listed more than 150 properties for clients and generated more than $150 million in investment sales since 2011.

“We are excited to add someone of Connor’s caliber to our growing staff,” said Jacob Gehl, managing director at Blueprint. 

“We have experienced an enormous amount of activity recently, and we anticipate that 2014 will be a strong year for our firm."  


For a complete copy of the company’s news release, please contact:


Mark Thomton, mthomton@taylorjohnson.com, 312-267-4523

THINC: The Hotel Investment Networking Conference Releases Final Schedule of Events and Speakers for May 15-16 Event in Chicago

  
Hessam Nadji
           CHICAGO,IL —Organizers of The Hotel Investment Networking Conference (THINC) released its final agenda for the inaugural event to be held at the Hilton Chicago, May 15-16, 2014. 

Co-hosted by DePaul University School of Hospitality Leadership and Lodging Unlimited, the hospitality consulting company, the updated speaker list includes a virtual “who’s who” of hospitality industry elite. 

Of particular note, Marcus & Millichap Senior Vice President and Chief Strategy Officer Hessam Nadji has been named the conference’s keynote speaker.

            “It is extremely gratifying to have been able to compile these exceptional speakers and panelists, 100 percent of which are presidents, CEOs, owners investors and senior executives, for our very first THINC event,” said Morris Lasky, co-chair and co-founder. 

“We have representatives from Marriott International, Hilton Worldwide, Starwood Capital Group, Interstate Hotels & Resorts, Carlson Rezidor Hotel Group, La Quinta Inns & Suites, Hostmark Hospitality Group and the Marcus Corporation, amongst others. 

"We have purposefully put together a centralized event that immediately precedes the National Restaurant Show at Chicago’s McCormick Place, should attendees like to stay for both events.”

For a complete copy of the company's news release, please contact:

Chris Daly
chris@dalygray.com