Monday, October 5, 2009
DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured a permanent loan for a 16.3-acre ground lease located near the University of South Florida campus in Tampa, Florida.
Working exclusively on behalf of The LCP Group, HFF managing director Mark West (top right photo) placed the 10-year, fixed-rate loan with a national life insurance company. The LCP Group (previously Lepercq Capital Partners), headquartered in White Plains, New York, is a private real estate investment banking firm that has been acquiring, syndicating and overseeing real estate investments nationally since 1974.
The 49-year ground lease commenced in August 2008 and provides for five 10-year automatic extensions.
Mark E. West, HFF Managing Director, (214) 265-0880, firstname.lastname@example.org
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, email@example.com
ORLANDO, FL--: Pat Werner, (top right photo) Vice President Community and Economic Development for WELBRO Building Corporation has been appointed to the Commercial Real Estate Women’s (CREW) Network National Board of Directors for 2010.
Pat also serves on the 2009 CREW Network Resource Committee, served on the 2009 CREW Network Nominating Committee and is the current President of CREW Orlando.
She is a Past President of the Florida Economic Development Council; Past Chairwoman of the Goodwill Central Florida Board of Directors; a member of the International Economic Development Council (IEDC) and a member of the National Association Industrial Office Parks (NAIOP).
She also serves on the Heart to Heart Board a community service board to assist homeless women and children in Central Florida. Under her direction, as 2009 President of CREW Orlando, a Community Outreach Director’s position was created and this year the committee has organized participation in the Susan G. Koman Breast Cancer Walk and is coordinating the 2010 Women Builds – Habitat Project for CREWOrlando. Werner represents WELBRO Building Corporation in the company’s community, business and economic development efforts.
CREW Network is the industry’s leading advocate for the success of women in commercial real estate with 70 Chapters and over 8,000 members.
For more information, contact:
Patricia A. Werner, CEcD, Vice President, Community & Economic Development, WELBRO Building Corporation, Telephone: 407/475-0800; mobile: 407/766-3951. 2301 Maitland Center Pkwy, Suite 250
firstname.lastname@example.org Maitland, Florida 32751
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Steven Wiltshire, an associate director in the firm’s Portland office, arranged the financing package for the property.
“Typically, a specialized multifamily product with low-income housing restrictions requires an experienced client,” says Wiltshire. “We closed this tax-credit property transaction in 48 days with an investor who had no previous LITHC experience. We were able to provide confidence to the client and the lender, meet the state agencies’ and the lender’s requirements/concerns and close the transaction expeditiously.”
The interest rate was 6.05 percent fixed with a 30-year amortization schedule. Loan-to- value was 80 percent. Willow Springs was built in 1994.
Press Contact: Stacey Corso, Marcus & Millichap Capital Corporation, (925) 953-1716
Greg Morrison, CCIM, SIOR, Principal, Morrison Commercial Real Estate, 255 S. Orange Avenue, Suite 1545, Orlando, Florida 32801, 407.219.3500, 407.219.3501 fax, 407.257.8320 mobile
Lisa L. Smith, Senior Vice President, Parkway Properties, (407) 843-6215