Saturday, April 25, 2009

HFF places $18.5M loan with Freddie Mac for Tampa, FL multifamily community

MIAMI, FL – The Miami and Boston offices of HFF (Holliday Fenoglio Fowler, L.P.) announced that they have placed an $18.5 million loan with Freddie Mac for Mallory Square Apartments,(top right photo) a 383-unit multifamily community in Tampa, Florida.

HFF director Elliott Throne and senior managing director Fred Wittmann exclusively represented the borrower, the investment management subsidiary of Connecticut General Life Insurance Company.
HFF placed the seven-year, adjustable-rate loan with the lender, which will also be serviced by HFF. Loan proceeds are refinancing a construction loan.

“Freddie Mac ultimately provided the maximum loan available in the market for a non-recourse financing. The day one interest rate was in the low four percent range with a built-in cap that is not significantly higher than where fixed-rate loans are priced today,” said Throne.
“The lender was attracted to the deal due to the quality of the asset and the strength of the sponsorship.”

Completed in 2006, Mallory Square Apartments is located at 11306 Mallory Square Drive approximately 10 miles from both Tampa’s central business district and Crystal and Clearwater Beaches.

ELLIOTT P. THRONE, HFF Director, (305) 421-6549,
KRISTEN M. MURPHY, HFF Associate Director, Marketing (713) 852-3500

HFF arranges $5.8M refinancing for southeast Houston multifamily community

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $5.8 million refinancing for Seatree Apartments,(top right photo) a 220-unit multifamily community in southeast Houston, Texas.

Working exclusively on behalf of Seatree Properties, Ltd., an affiliate of Hall Financial Group, Ltd., HFF senior managing director Whitaker Johnson (bottom left photo) placed the 10-year, fixed-rate loan with Freddie Mac (Federal Home Loan Mortgage Corporation).

The new loan allows Seatree Properties, Ltd. to completely pay off the existing loan on the property.

Seatree Apartments is located at 2800 Nasa Parkway approximately 20 miles southeast of downtown Houston via Interstate 45 in Seabrook. Renovated in 2006, the property is a garden-style complex that offers five floor plans averaging 750 square feet.

“Seatree Apartments has historically maintained high occupancies and is currently more than 98% occupied due to an influx of residents evacuated from Galveston Island as a result of Hurricane Ike,” said Johnson.

Hall Financial Group’s diversified holdings include active operations in commercial real estate development, ownership and management, structured finance lending for real estate and other areas, vineyards and wineries and oil and gas.
In addition, the company maintains a substantial portfolio of stocks, bonds and venture capital investments in a broad range of industries. For more information, visit


WHITAKER M. JOHNSON HFF Senior Managing Director, (214) 265-0880,

KRISTEN M. MURPHY, HFF Associate Director, Marketing, (713) 852-3500,

HFF markets Tallahassee Mall in Tallahassee, FL

NEW YORK, NY –The New York and Miami offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today they have been engaged to market for sale the Tallahassee Mall, (top right photo) a 988,000-square-foot regional mall in Tallahassee, Florida.

HFF managing directors Lynn DeMarco (middle left photo) and Brad Peterson (bottom right photo) and senior managing director Joe Morningstar will lead the investment sales team exclusively on behalf of a court appointed receiver.
The property is offered free and clear of debt without a formal asking price.

Situated on nearly 100 acres, the Tallahassee Mall is located at 2415 North Monroe Street, close to Interstate 10, downtown Tallahassee, Florida State and Florida A&M Universities.
The property is leased to tenants including AMC Theatre, Belk, Burlington Coat Factory, Ross Dress for Less, Sports Authority and Barnes & Noble.

“Tallahassee Mall provides an investor the opportunity to reposition a significant, strategically located asset in a dynamic university city,” said DeMarco. “The Mall lost two anchors, Dillards and Goody’s in 2008 and is currently 61% occupied.”

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.

Lynn A. DeMarco, Managing Director (212) 245-2425,
H. Bradley Peterson, HFF Managing Director, (305) 448-1333, 1333,
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,

Grubb & Ellis Names New Associates

John Basile and R. Tyler Hardy New Faces in Industrial Group

ROSEMONT, IL– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that R. Tyler Hardy (top right photo) and John Basile (top left photo) have joined Grubb & Ellis’ Industrial Group as associate vice presidents, effective immediately.

“John and Tyler are excellent additions to our growing team of industrial professionals,” said Chris Lydon, senior vice president and leader of the Industrial Group in Grubb & Ellis’ Chicago offices. “They are a great fit for Grubb & Ellis, both culturally and in terms of the growth they have demonstrated in the industry thus far.”

Hardy, 30, was most recently a senior associate with CB Richard Ellis where he handled office and industrial leasing and sales and represented more than 1.5 million square feet of available space. He began his career at CB Richard Ellis in 2004 as a transaction manager within the company’s Global Corporate Services team. Hardy spent two years as an associate with Ohio Equities LLC prior to his hire at CB Richard Ellis.

Basile, 32, joins Grubb & Ellis from Epic Realty Partners, where he was an associate vice president providing leasing and sales advisory services in the I-55 corridor since 2005.

Contact: Erin Mays, 312.698.6735:

Scott Myers Joins Houston Office

Scott Myers has joined the company’s Houston office as vice president, Institutional Capital Markets Group, which provides real estate investment and advisory services to the company’s most sophisticated institutional clients.

“Scott brings a diverse background and wealth of experience in the underwriting and disposition of institutional assets, particularly in the current economic environment,” said Moody Younger, executive managing director of Grubb & Ellis’ Texas offices. “During his career, he has played an essential role in the sale of assets across the state of Texas with an aggregate value of more than $1.3 billion, and we are thrilled to have him on board.”

Myers comes to Grubb & Ellis from Cushman & Wakefield.

Julia McCartney, 714.975.2230,
Damon Elder, 714.975.2649,

Andrew Harper Joins Downtown LA Office

Andrew Harper has joined its downtown Los Angeles office as vice president, Institutional Capital Markets Group.

“Andrew brings a successful track record and a number of well-established client relationships to Grubb & Ellis,” said Chuck Hunt, executive managing director of Grubb & Ellis’ Los Angeles area operations.

Harper joins Grubb & Ellis from Cushman & Wakefield of California Inc., where he served as a director of the company’s Capital Markets Group for nine years.
Contact: Julia McCartney, 714.975.2230,

Grubb & Ellis Named Leasing Agent for 8300 Douglas at Preston Center

In Dallas, Parmenter Realty Partners has selected Grubb & Ellis to lease 8300 Douglas at Preston Center, a nine-story office tower located in the prestigious Preston Center submarket.

Currently 84 percent leased, the 100,000-square-foot Class A office building was completely renovated in 2006 and offers tenants an attached garage with ample parking for tenants and visitors, an expanded lobby with granite flooring and a professional on-site management team.

Contact: Julia McCartney, 714.975.2230,