Thursday, October 15, 2009

HFF arranges $3M loan for new Chase Bank site in Darien, CT

NEW YORK, NY – The New York office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $3.0 million permanent loan for a 3,500-square-foot JP Morgan Chase bank building under construction in the Noroton Heights section of Darien, Connecticut.

HFF senior managing director Al Epstein (top right photo)  worked on behalf of the borrower, Golden Heights LLC to secure the 10-year, fixed-rate loan through Peoples Bank of Massachusetts. The borrower is an affiliate of Thomas Golden Realty Company, which owns a number of commercial properties in Darien.

The site is located at 169 Noroton Avenue in the Noroton Heights section of Darien. Scheduled for completion within two months, the new Chase Bank building will be a one-story structure with two drive-through ATM’s and 24 parking spaces.

“The lender, Peoples Bank, recognized the uniqueness of the property’s location. New developments don’t come easy in this area as Darien has high barriers to entry. This is a busy intersection across from the Noroton Heights Metro Station that leads into a very active retail area that is anchored by Stop and Shop, Walgreen Drugs and Equinox,” said Epstein.

“In the same general area, Thomas Golden Realty Company is in discussions with the Town of Darien for developing a high quality, low-rise multi-housing/mixed-use commercial transit-oriented property to adjoin the Stop and Shop and Walgreen property.”

Alvin J. Epstein, HFF Senior Managing Director, (212) 245-2425,
 Kristen M. Murphy,  HFF Associate Director, Marketing, (713) 852-3500,

National Retail Properties, Inc. Declares Common Dividend

ORLANDO, FL,  Oct. 15, 2009 /PRNewswire-FirstCall/ -- The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a quarterly dividend of 37.5 cents per share payable November 16, 2009 to common shareholders of record on October 30, 2009.

The dividend represents an annualized rate of $1.50 per share. This dividend payment marks the twentieth consecutive annual dividend increase for National Retail Properties. Only 156 publicly traded companies in America have increased annual dividends paid to shareholders for 20 or more consecutive years. This quarterly dividend payment brings the total dividend paid for 2009 to $1.50 per share, representing a 1.4% increase over $1.48 per share paid in 2008.

"We're proud to reach our twentieth consecutive year of increased annual dividend payments," said (Craig Macnab, top right photo) Chairman and Chief Executive Officer. "Less than 2% of all public companies in America have achieved this milestone. In an environment when many companies have cut or suspended dividend payments, a consistent and increasing dividend is extremely important to our shareholders."

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of June 30, 2009, the company owned 999 Investment properties in 44 states with a gross leasable area of approximately 11.4 million square feet. For more information on the company, visit

Contact: Kevin B. Habicht, (bottom left photo)   Chief Financial Officer of National Retail Properties, Inc., +1-407-265-7348

Industry Veteran Richard Wieneke Joins Grubb & Ellis

SEATTLE, WA– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm,  announced that Richard Wieneke (top left photo)  has joined the company as senior vice president, Investment Group. A 28-year veteran of Seattle’s commercial real estate industry, Wieneke will specialize in assisting clients with the sale and acquisition of distressed assets.

“Richard is one of our city’s most accomplished commercial real estate practitioners. He brings extensive experience and relationships, and will be an asset as we continue to build our presence in the Seattle market,” said Bill Condon, (bottom right photo)  managing director of Grubb & Ellis’ Seattle office.

Throughout his career, Wieneke has been involved in the development, acquisition and disposition of real estate assets valued in excess of $2 billion.

Wieneke spent the majority of his career at Kennedy Associates Real Estate Counsel Inc., where he participated in the startup of the investment advisory firm, specializing in value-add acquisitions, in 1981.

During his 20 years at Kennedy Associates, the company grew to 85 people with offices in Seattle, Los Angeles, Dallas, Denver and Washington, D.C., with a nationwide portfolio of $4.5 billion on behalf of more than 200 public, corporate and Taft-Harley pension plans.

Wieneke spent five years from 2001 to 2005 as senior real estate director at Opus Northwest LLC. He joins Grubb & Ellis from TNR LLC, where he was the owner of the development firm since 2005.

Wieneke earned two bachelor’s degrees from Washington State University and a master’s degree from the University of Oregon.

Contact::   Julia McCartney Phone: 714.975.2230,  Email:

Arbor Closes 2 Fannie Mae Loans Totaling $10.6M in Texas

Windemere Apartments in Houston, TX Receives $5.46 Million

UNIONDALE, NY, Oct. 15, 2009– Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $5,460,000 loan under the Fannie Mae DUS® Loan product line for the 257-unit complex known as Windemere Apartments (top right photo) in Houston, Texas.

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

The loan was originated by Matt Norman, Vice President, in Arbor’s full-service Dallas, TX lending office. “This transaction involved Arbor assisting an existing client with a new acquisition designed to bolster their portfolio,” said Norman.

Huntington Cove Townhomes in Farmers Branch, TX Obtains $5.19 Million

UNIONDALE, NY - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $5,190,000 loan under the Fannie Mae DUS® Loan product line to refinance the 100-unit complex known as Huntington Cove Townhomes in Farmers Branch, TX.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.98 percent.

The loan was originated by Jay Porterfield,  (top right photo) Vice President, in Arbor’s full-service Plano, TX lending office. “Arbor provided attractive, non-recourse financing that allowed the borrower to retire his existing recourse financing from a local bank,” said Porterfield. “We look forward to continuing to grow our financial partnership with this client.”

Arbor Appoints Thomas Dodge to FHA Chief Underwriter

UNIONDALE, NY - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC and leader in the commercial real estate finance industry, has announced today the appointment of Thomas Dodge to FHA Chief Underwriter. He reports to Joseph Donovan, (bottom left photo) Senior Vice President, Production Management.

Mr. Dodge oversees the underwriting of multifamily and healthcare loans under the FHA Mortgage Insurance Programs, as well as the training and development of FHA/MAP staff. Additionally, he will ensure the Company’s compliance with HUD, MAP and LEAN requirements.

Mr. Dodge has more than 30 years of experience in commercial real estate finance, with a strong focus on Underwriting. Prior to joining Arbor, Mr. Dodge served as Vice President, Senior Underwriter with Neace Lukens Capital. Previously, he held posts with Bedford Lending Corp., First NH Bank and Shawmut Bank.

Mr. Dodge earned a Bachelor of Science degree in Management from C.W. Post College. He resides in Hooksett, NH.

Contact:  Ingrid Principe,, P: 516.506.4298, F: 516.542.2555,, Follow us on Twitter @ arbor1

C&W Orlando negotiates sale of 50 acres in Colina Bay at Montverde, FL

 ORLANDO, FL– As Exclusive Right of Sale Listing Agent, Cushman & Wakefield negotiated the sale of 60 developed lots in Colina Bay, a residential subdivision overlooking Lake Apopka in Montverde, FL.

The buyer, Colina Bay Investments, LLC, paid the Seller, Colina Recovery Inc, $2,400,000 or $40,000 per lot. Margery Johnson (top right photo)  of Cushman & Wakefield was the broker in the transaction.

C&W negotiates 15,000 SF warehouse deal for Autopart International

ORLANDO, FL– Cushman & Wakefield of Florida, Inc. (C&W) announced a new lease for Massachusetts-based Autopart International, an aftermarket parts distributor for automotive professionals that is moving into the Florida market for the first time.

The Industrial Brokerage team of Lee Morris (bottom left photo)  and Jared Bonshire, represented the tenant in the deal for 15,000 square feet at 613 Triumph Court, from landlord Harrel & Davis. Autopart International is owned by Advance Auto Parts.

Contact:  Brook Hines, Tel: 407-541-4401,,