Tuesday, May 4, 2010

Marcus & Millichap Sells 112-Acre Manufactured Home Community in Foley, AL

FOLEY, AL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of The Grove Mobile Home Community (top left photo) , a 112-acre manufactured home community property located in Foley, AL, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $3,342,458.

Dan Mulkey and Jon Harrison, vice president investments in the firm’s Tampa and San Diego offices, along with Edwin Greenhalgh, investment specialist in Marcus & Millichap’s Alabama office, had the exclusive listing to market the property on behalf of the seller, an Alabama-based limited liability company.

The buyer, a private investor, was secured and represented by Dan Mulkey. Matthew Fitzgerald,  Broker, assisted in closing this transaction.

“The buyers, a Florida family, have a lot of experience in marketing and filling new senior communities and feel confident they can continue the work started by the seller” says Mulkey.

The Grove Mobile Home Community is located at 8647 Arlington Drive in Foley, Alabama. This premier gated senior community (55+) has three planned phases totaling 425 sites.

The first phase (165 lots) is developed and operational. Amenities include a clubhouse, shuffleboard, library, pool and spa, RV and boat storage, walking/jogging path and a lush tree-lined 4.5 acre lake.

Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700

Cambridge Realty Capital Reports Processing 75 Loan Origination Requests Totaling $1.04B in 1st Quarter

CHICAGO, IL--Although the capital markets are hardly running on all cylinders, Cambridge Realty Capital Companies reports receiving 75 loan origination requests totaling $1.04 billion during the first quarter of 2010.

“That’s roughly the same number of loan requests we processed during the same quarter last year, but dollar volume for the period was down 14 percent from $1.19 billion in 2009,” said Chairman Jeffrey A. Davis (top right photo).

In March, Cambridge processed 25 loan requests totaling $282.9 million, compared with 23 loans totaling $442.4 million for the same month last year.

Davis points out that lenders close a relatively small percentage of loan requests received. But he thinks it’s useful to track this information as an indication of market direction.

“What the data is telling us is that loan origination requests are on pace with last year. However, on average, we’re looking at smaller transactions in 2010,” he noted.

Davis says this is further confirmed by a year-over-year comparison of the total number of beds/units included in the requests received. In 2010, the beds/units total for the quarter was 8,407, compared to 13,349 in 2009.

Davis says Cambridge has been privately owned since its founding in 1983 as a real estate investment banker specializing in commercial real estate properties. The company today has three distinctive business units: FHA-insured HUD loans, conventional financing, and investments and acquisitions.

Contact:  Evan Washington, Phone: (312) 521-7603, Fax: (312) 357-1611, E-Mail: ew@cambridgecap.com, Twitter: http://twitter.com/CambridgeCap

D & A Building Services wins new Texas DOT contract in Paris, TX

LONGWOOD, FL — D & A Building Services Inc. was awarded a new contract for facility maintenance services by the Texas Department of Transportation Paris District.

Under its scope of services, D & A’s Dallas office is providing full-service janitorial, carpet cleaning, floor refinishing and window cleaning services for six, two-story buildings totaling 28,000-square-feet of space at the Paris District office complex located at 1365 North Main Street, Paris, Texas.

D & A Building Services Inc. is a privately owned facility maintenance provider founded in 1985. Headquartered in Longwood, Fla., full service offices are located in Jacksonville, Fla., Tampa, Fla., Kansas City, Mo., Madison, Wis., Dallas, Texas, and Detroit, Mich.

Services are provided by a staff of 650 to property managers, building owners, local and state governments, Federal agencies, and the military. The veteran-owned company is an Hispanic-Owned Business Enterprise, and a graduate of the Small Business Administration’s 8(a) program. For additional information, please visit http://www.dabuildingservices.com/.

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

HFF closes sale of Class A office building in Houston’s Energy Corridor

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of One Park 10 Plaza,  (top left photo) a 162,909-square-foot, Class A office building in Houston’s Energy Corridor submarket.

HFF senior managing director Dan Mille (middle right photo) r led the investment sales team, which included real estate analyst Trent Agnew, on behalf of the seller, Parkway Properties, Inc.

Beacon Investment Properties purchased the property for an undisclosed amount.

One Park 10 Plaza is located on 3.2 acres at 16225 Park Ten Place within the Park Ten Office Park. The 550-acre office park is situated in Houston’s Energy Corridor submarket on the north side of Interstate 10 between Highway 6 and Barker Cypress Road.

 The eight-story property is 93.7% leased to tenants including GGS Spectrum, Inc. and J. Connor Consulting. The property also includes a four-level, 560-space parking garage.

“One Park 10 Plaza is uniquely positioned as the best building of its age and size within a large-scale master-planned office park and as a result attracted a lot of interest from investors,” said Miller. “It’s very high historical occupancy was also reason for a high level of interest.”

Parkway Properties, Inc., a member of the S&P Small Cap 600 Index, is a self-administered real estate investment trust specializing in the operation, leasing, acquisition, and ownership of office properties. The company is geographically focused on the southeastern and southwestern United States and Chicago.

Parkway owns or has an interest in 64 office properties located in 11 states with an aggregate of approximately 13.2 million square feet of leasable space as of April 15, 2010. Included in the portfolio are 21 properties totaling 3.9 million square feet that are owned jointly with other investors, representing 29.3% of the portfolio.

 Fee-based real estate services are offered through the company's wholly-owned subsidiary, Parkway Realty Services, which also manages and/or leases approximately 2.8 million square feet for third-party owners as of April 15, 2010.

Beacon Investment Properties is a private equity real estate investment and property development group, based in Florida with additional offices in Houston.

Beacon has been a very active buyer in Houston recently having acquired close to 500,000 square feet of office product.


H. Dan Miller, CCIM, SIOR, HFF Senior Managing Director, (713) 852-3500, dmiller@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com
HFF secures $2.1M refinancing for suburban Indianapolis office properties

INDIANAPOLIS, IN – The Indianapolis office of HFF (Holliday Fenoglio Fowler, L.P.)  has secured a $2.1 million refinancing for Crosspoint Corner V & VI, adjacent suburban office properties totaling 27,965 square feet.

The properties are both 100% occupied and located in Fishers, Indiana, a “high-growth” suburb of Indianapolis, Indiana.

Working on behalf of Shamrock Builders, HFF managing director Jon Everson (bottom left photo)  placed the non-recourse, fixed-rate loan with a correspondent life insurance company.

Loan proceeds were used to refinance the existing debt, which was approximately two years from maturity. The borrower had entered a flexible prepayment window and opted to manage their near term refinance and interest rate risk by refinancing early. The loan will be serviced by HFF.


Jonathan P. Everson, (317) 630-3191, HFF Managing Director, jeverson@hfflp.com
Kristen M. Murphy, (713) 852-3500, HFF Associate Director, Marketing, krmurphy@hfflp.com

Arbor Closes $1.95M Fannie Mae DUS® MAH Loan for Southside Apartments in Rocky Mount, NC

UNIONDALE, NY- - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,950,000 loan under the Fannie Mae DUS® Multifamily Affordable Housing Section 8 100 percent Project-Based HAP Contract product line for the 50-unit complex known as Southside Apartments in Rocky Mount, NC.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.12 percent.

The loan was originated by John Edwards, (top right photo)  Vice President, in Arbor’s full-service Boston, MA lending office. “This financing represents our ongoing commitment to the Fannie Mae DUS® MAH program,” said Edwards. “In addition, we were pleased with the opportunity to work with a long-term client and look forward to working with the borrower on future financings.”

Contact:  kmaxey@arbor.com

Liberty Property Trust Receives Leed Gold Certification for Liberty Center at Monarch Lakes in Miramar, FL

MIRAMAR, FL -- Liberty Property Trust (NYSE:LRY)  has earned LEED Gold certification from the U.S. Green Building Council (USGBC) for its 110,000 square foot Liberty Center at Monarch Lakes building (top left photo)  in Miramar.

“Achieving LEED Gold certification for Liberty Center at Monarch Lakes is a great accomplishment for the entire project team,” said Andy Petry, (bottom right photo)  vice president at Liberty.

“From the initial concept of the project, we had the help and support from not only the City of Miramar who encouraged and promoted the development of sustainable buildings in their community, but also the architect and contractors.”
LEED is the USGBC’s leading measurement rating system for designing and constructing the world’s greenest, most energy efficient, and highest performing buildings.

“Liberty Center at Monarch Lakes’ LEED certification demonstrates tremendous green building leadership,” said Rick Fedrizzi, president, CEO and founding chair, U.S. Green Building Council.

 “The urgency of USGBC’s mission has challenged the industry to move faster and reach further than ever before and Liberty Center at Monarch Lakes serves as a prime example with just how much we can accomplish.”

General Inquiries: Andy Petry, Liberty Property Trust, 561/999-0310
Media Contact: Margo Hunt Winans, a.s.a.p.r., 757/404-8653

Liberty Ranks First in Environmental Policy Implementation and Measurement in International Study
TAMPA, FL–- Liberty Property Trust (NYSE:LRY) has ranked first among US commercial real estate developers for its implementation and measurement of its sustainable property management policy. The international study – Environmental Performance: A Global Perspective on Commercial Real Estate Investors” – was completed by Maastricht University.

The Maastricht University study ranked the best performing publically held United States based commercial real estate companies in the areas of sustainable “Management & Policy” and “Implementation & Measurement” of environmental policy. Liberty ranked first in the category Implementation & Measurement of environmental policy – a full 13 points ahead of the closest competitor - and second in the area of Management & Policy.

“This survey demonstrates that Liberty’s commitment to integrating sustainable design and property management across our portfolio is a day-to-day reality – we ‘walk what we talk’,” said Marla Thalheimer, Liberty’s manager of sustainability. “The results of our efforts not only benefit our shared global environment, but our tenants as well.

General Inquiries:  Robert Goldschmidt, Liberty Property Trust, 813/889-3712

Media Contact:  Margo Hunt Winans, a.s.a.p.r., 757/404-8653

Barcelona Center in Jupiter, FL Gets $1.5M Loan

ORLANDO, FL— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on April 19, 2010, in the amount of $1,500,000 for the Barcelona Center in Jupiter, Florida.

Jeff Schnupp, (top right photo)  Company Vice President, financed the Barcelona Center office building through Thomas D. Wood and Company’s correspondent relationship with Kansas City Life Insurance Company.

 The fixed-rate loan has an interest rate of 6.75%, based on a five-year term and a 15-year amortization. The loan-to-value is 45%. The 17,000 square-foot multi-tenant office was built in 2004 and is home to major tenant Siemens. The Barcelona Center is located at 1680 South Central Boulevard, Jupiter, Florida.

For further information, please contact:
Jeff Schnupp (407) 937-0470 jschnupp@tdwood.com
Jessica Kinnee (407) 937-0470 jkinnee@tdwood.com