Tuesday, April 21, 2009

Melrose-Sovereign Companies Awarded Two New Apartment Management Contracts in Orlando

ORLANDO, Fla. - Melrose-Sovereign Companies, the Orlando-based real estate management firm that specializes in rental apartment communities, condominiums and homeowner associations, was awarded contracts to manage two rental apartment communities in Orlando.

Ellen Lumpkin, (top right photo) LCAM, co-founder and partner at the firm with Jack Hanson, said the new management assignments include:

Waterford Landings, (bottom right map)where Melrose-Sovereign will manage 72 of the 200 plus units at the community on Alafaya Trail in southeast Orlando; and at Walden Palms, (top left photo) Melrose-Sovereign will also manage a cluster of 72 apartments in the community of over 200 units located off Conroy-Windermere Road near the Mallat Millennia.

Melrose-Sovereign Companies currently manages properties for more than 150 developers, investors and owners throughout Florida.

The firm employs more than 100 property management specialists with offices in Jacksonville, Orlando, Tampa, Palm Harbor, Bradenton/Sarasota, Port Charlotte and Fort Myers.

For more information, please contact:

Ellen G. Lumpkin, LCAM, Partner/Co-founder, Melrose-Sovereign Companies, 407-228-4181, elumpkin@melrose-sovereign.com

Jack B. Hanson, LCAM, Partner/Co-founder, Melrose-Sovereign Companies, 407-228-4181, jhanson@melrose-sovereign.com

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

Sheila Goodman, Larry Vershel Communications, 407-644-4142 P407-644-4410 F

Thomas D. Wood & Co. Brokers $2.2M Loan for CVS in FL and TX

SARASOTA, FL, April 21, 2009— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on April 16, 2009, in the amount of $2,200,000 for CVS Pharmacies in Hollywood, Florida and Seguin, Texas.

Brad Cox, (top right photo) CCIM, CPM, Company Vice President, financed the CVS Pharmacies through Thomas D. Wood and Company’s correspondent relationship with StanCorp Mortgage Investors.

The limited-recourse loan has an interest rate of 7.125% and a 10-year term, based on a 25-year amortization.

The CVS Pharmacies are located at 900 South State Road 7, Hollywood, Florida and 110 South King Street, Seguin, Texas.

Thomas D. Wood Occupies New Offices in Sarasota

The firm has expanded into new office space in Sarasota, Florida. Brad Cox, CCIM, CPM, Company Vice President, is manager of the Sarasota office. The office address is 7349 Professional Parkway East, Sarasota, Florida 34240.

For further information, please contact:
Brad Cox, CCIM, CPM (941) 552-9731 bcox@tdwood.com
Jessica Gurtowski (407) 937-0470 jgurtowski@tdwood.com

HFF arranges $8.45M loan for luxury multifamily community in Indianapolis

INDIANAPOLIS, IN – The Indianapolis office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged $8.45 million in financing for Oak Lake at Crooked Creek, (above centered photo) a 192-unit luxury multifamily community located in Pike Township, Indianapolis, Indiana.

HFF senior managing director Dave Keller (top right photo) worked exclusively on behalf of J.C. Hart Company and its affiliate, Payne Road Associates, to secure the seven-year, capped adjustable-rate loan through Freddie Mac (Federal Home Loan Mortgage Corporation).
Loan proceeds were used to payoff an existing first mortgage. The loan will be serviced through HFF.

HFF (NYSE: HF) operates out of 17 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, loan sales and commercial loan servicing. http://www.hfflp.com/.

David B. Keller, HFF Senior Managing Director, (317) 630-3191, dbkeller@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF arranges $36.5M financing for 1300 Connecticut Avenue in Washington, D.C.

WASHINGTON, D.C. – The Washington, D.C. and Dallas offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have arranged $36.5 million in financing for 1300 Connecticut Avenue, (above centered photo) a 125,885-square-foot, Class A office building in Washington, D.C.

HFF directors Cary Abod (top right photo) in Washington, D.C. and Brian Carlton (bottom left photo) in Dallas worked exclusively on behalf of Dividend Capital Total Realty Trust Inc. to secure the seven-year, fixed-rate loan with a national life insurance company.

Loan proceeds were used to acquire the property, which had a purchase price of $63.6 million.

“Even in the midst of one of the most turbulent capital markets environments seen in decades, HFF was able to close this transaction within seven weeks at a favorable fixed-rate, a true testament to the quality of the sponsorship as well as the quality of the property itself,” said Abod.

1300 Connecticut Avenue, which was renovated in 1994, is 98% leased to 12 tenants including IAM National Pension Fund, VISA USA and PFC Energy.

The property is located at the corner of Connecticut Avenue and N Street, one block from Dupont Circle in the central business district of Washington, D.C.

“The property’s diverse secure tenant mix, easy metro access and uniquely prominent architecture place it among the top-tier of real estate assets in Washington, D.C.,” added Abod.

Dividend Capital Total Realty Trust Inc., a Denver-based REIT, invests in a diversified portfolio of commercial real estate assets. As of December 31, 2008, the company owned 73 properties in 24 geographic markets totaling approximately 12 million square feet.


Cary P. Abod, HFF Director, (202) 533-2500, cabod@hfflp.com
Kristen M. Murphy, HFF Associate DirectorMarketing, (713) 852-3500, krmurphy@hfflp.com

Arbor Closes $3.9M Fannie Mae DUS® MBS Loan for Ambassador Apartments in Balch Springs, TX

UNIONDALE, NY - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $3,900,000 loan under the Fannie Mae DUS® MBS product line to finance the 136-unit complex known as Ambassador Apartments (bottom left photo) in Balch Springs, TX.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.05 percent.

The loan was originated by Robert Russell, (top right photo) Senior Vice President, in Arbor’s full-service New York, NY lending office.

“The client engaged Arbor on this transaction because they had the confidence that we could execute despite the current market volatility,” said Russell.

Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/