Tuesday, March 9, 2010

Cushman & Wakefield Negotiates Sale of University Park in Tampa, FL for $12M

TAMPA,, FL – Mar. 9, 2010 – Cushman & Wakefield has successfully negotiated the sale of University Park, located in Tampa, Florida near the University of South Florida, for $12 million.

University Park includes three single story garden office buildings totaling 99,234 square feet. The Property was 100% occupied at the time of sale.

Mike Davis, (top right photo)  Executive Director of C&W’s Southeast Capital Markets Group, was quoted as saying, “The sale of University Park validates Florida’s continued interest to investors and the University market’s appeal to medical and related office tenants.”

Mike Davis (Executive Director, Capital Markets) and Rick Brugge (bottom left photo), CCIM (Associate Director, Capital Markets) of C&W negotiated the sale on behalf of the seller, Arthur Hill & Company. The buyer was ESJ Capital Partners.

Contact: Marcianne Foster, 813-204-5345, Marcianne.Foster@cushwake.com

Daniel O’Connell joins D & A as branch manager in Longwood, FL

 LONGWOOD, FL— D & A Building Services Inc., a leading facility maintenance provider, is pleased to announce that Daniel T. O’Connell (top right photo)  has joined the Company as a Central Florida Branch Manager.

 O’Connell has more than twenty years of experience in sales, management and customer development. He earned a Master of Business Administration in Marketing from Babson College, Wellesley, Mass., and a Bachelor of Arts in Humanities from Providence College in Providence, R.I.

O’Connell was previously Director of Empowerment at KYAW Academic and Empowerment Center in Sanford, Fla.

PR Contact: Elaine Ingra, (407) 384-1344 elainei@pr-works.com

Arbor Closes $3.88M Fannie Mae DUS® Loan for Lakepointe Apartments in Brewerton, NY

UNIONDALE, NY-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $3,880,000 loan under the Fannie Mae DUS® Loan product line for the 72-unit complex known as Lakepointe Apartments in Brewerton, NY.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.75 percent.

The loan was originated by Ronen Abergel, (top right photo)  Director, in Arbor’s full-service New York, NY lending office. “This was a new borrower for Arbor, and we look forward to growing this relationship and partnering with them on future projects,” said Abergel.

Contact:  Ingrid Principe, Iprimcipe@arbor.com

TD Wood Brokers $2.95M Loan in Reno, NV

MIAMI, FL— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on March 1, 2010, in the amount of $2,950,000 for McCarran Buildings D1, D2 and F, located at 6490 S. McCarran Boulevard, Reno, Nevada.

Steve Wood, (top right photo) Company Chief Operating Officer, along with Tony Castrignano of Sky Mesa Capital, financed McCarran Buildings D1 and D2 through Thomas D. Wood and Company’s correspondent relationship with Symetra Financial in the amount of $2,375,000.

The interest rate is fixed at 7.25% for a ten-year term, based on a 25-year amortization and a loan-to-value of 65%. The 27,734 square-foot office was built in 1990.

Together they also financed McCarran Building F through Symetra Financial in the amount of $875,000. The interest rate is fixed at 7.25% for a ten-year term, based on a 25-year amortization and a loan-to-value of 45%. The 11,426 office was built in 1991.

For further information, please contact:
Steve Wood (305) 447-7820 swood@tdwood.com
Jessica Kinnee (407) 937-0470 jkinnee@tdwood.com

Apartment Realty Advisors Facilitates Sale of 248-Unit Fractured Condominium Property in Boca Raton, FL

BOCA RATON, FL — Atlanta-headquartered Apartment Realty Advisors (ARA), the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multi-housing industry, announces that ARA’s Florida division facilitated the sale of the partially-completed 248-unit Eden Condominiums multifamily community located in exclusive Boca Raton, FL.

The transaction was arranged by ARA Florida’s Boca Raton-based team of Hampton Beebe (top right photo),  Avery Klann (middle left photo) and Marc deBaptiste (bottom right photo).

West Palm Beach, FL-based Priderock Capital Partners purchased the property from Ceebraid-Signal Corporation.

š“This property will be completed and marketed as the standard of luxury rental living in Boca Raton,” said Hampton Beebe, of ARA’s Boca Raton office, who brokered the deal.š “Priderock has approved plans in place for an extensive rehab, including completing the clubhouse and re-construction of the unfinished apartment buildings.”

Beebe is a member of ARA’s Distressed Assets Solutions Group which provides responsive, professional and knowledgeable brokerage solutions to servicers and lenders of distressed conventional multifamily, land, student and seniors housing assets.

“This exclusive listing assignment was an ideal fit for our team,” said Marc deBaptiste, one of ARA’s founding partners. “Our experience encompasses multifamily development, capital and financial structuring, and distressed asset solutions. This combination of talents paved the way for the successful marketing of this unique investment sales assignment.”

Contacts: Marti Zenor, Amy Holland or Lisa Robinson, (561) 988-8800 ext. 112, (404) 495-7300

mzenor@arausa.com, aholland@ARAusa.comlrobinson@ARAusa.com

Colorado Medical Office Building Commands $18.6M

ENGLEWOOD, CO – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of Hampden Place Medical Center, (top left photo) a 66,339-square foot three-story Class A medical office building in Englewood, just south of central Denver.

The sales price of $18.6 million represents $271 per square foot.

John Smelter, a first vice president and senior director of the firm’s Healthcare Real Estate Group in San Diego, represented the seller. Smelter also represented the buyer, Health Care Trust of America Inc. Adam Christofferson,  (bottom right photo) a first vice president and broker of record for Colorado, also provided representation.

“The property was thoughtfully planned under the direction of Development Solutions Group by the physician owners, in conjunction with the participating hospital system, to facilitate the ongoing profitability and sustainability of the tenant businesses,” says Smelter.

Built in 2004 on 2.81 acres, the property is located at 401 W. Hampden Place in Englewood, a few blocks from the Swedish Medical Center and Porter Adventist Hospital campuses in an area known as the Englewood City Center, a city center transit-oriented, mixed-use redevelopment.

Hampden Place Medical Center houses an ambulatory surgery center, medical imaging, physiotherapy and medical offices for orthopedic, hematology-oncology and other physicians.

Press Contact: Stacey Corso, Communications Department, (925) 953-1716