Tuesday, June 14, 2011

HFF secures $32 million construction loan for suburban Philadelphia multi-housing community


FLORHAM PARK, NJ – HFF announced today that it has secured a $32 million construction loan for The Station at Bucks County (top left photo), a to-be-built 233-unit luxury multi-housing community in Warminster, Pennsylvania, a suburb of Philadelphia.

Working exclusively on behalf of the borrower, J.G. Petrucci Co. Inc., HFF placed the three-year construction loan with Webster Bank.

The Station at Bucks County will be located at 330 Jacksonville Road adjacent to the Warminster Train Station about 14 miles north of city center Philadelphia.  Upon completion in 2012, the property will feature 19 buildings with one- and two-bedroom units averaging 932 square feet each.  Community amenities will include a clubhouse, fitness center and pool. 

The HFF team representing J.G Petrucci Co. Inc. was led by senior managing director Jon Mikula. (middle right photo)

 Established in 1987, J.G. Petrucci Co. Inc. (JGPCO) is a privately-held, full-service owner and developer of industrial, office, medical, retail and other commercial properties throughout the northeastern United States.  With offices in New Jersey and Pennsylvania (Bethlehem-Lehigh Valley), JGPCO has grown to become one of the region’s most productive and well respective development and design/build organizations.

Webster Bank, N.A., a wholly owned subsidiary of Webster Financial Corp. (WBS), is an $18 billion institution headquartered in Connecticut with 176 banking offices located between Boston and West Chester, New York.  Webster has a commercial real estate loan origination office located in Radnor, Pennsylvania responsible for originating commercial real estate loans in Pennsylvania, New Jersey and Delaware.

Jon Mikula, HFF Senior Managing Director, (973) 549-2000,  jmikula@hfflp.com
 Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,                                        krmurphy@hfflp.com

NAI Realvest Negotiates Expansion Lease with The Nemours Foundation at La Vina Marketplace in Southeast Orlando

 MAITLAND, FL --- NAI Realvest recently negotiated an expansion lease agreement with The Nemours Foundation for 9,037 square feet of office space at La Vina Marketplace, 9145 Narcoossee Rd. in southeast Orlando.

 Senior Associate Mary Frances West (top right photo), CCIM negotiated the transaction representing the landlord, Orlando-based Ripley’s International LLC.

 The tenant, who already occupies 12,345 square feet at La Vina Marketplace, is expanding its facilities on the second floor.  The expansion brings the total square footage Nemours occupies to 21,382 square feet at the La Vina Marketplace.   

Mickey Hage of Mickey Hage, Inc. represented The Nemours Foundation in the transaction.

For more informaltion, please contact:
Mary Frances West, CCIM, Senior Broker-Associate NAI Realvest, 407-875-9989 mwest@realvest.com
Patrick Mahoney, President NAI Realvest, 407-875-9989 pmahoney@realvest.com
Beth Payan, Larry Vershel Communications, 407-644-4142 lvershelco@aol.com

Sandy River Co. Partners With Cambridge Realty Capital to Provide HUD 232 Lean Financing to New England Client Base

CHICAGO, IL--Sandy River Company, one of the largest privately held healthcare consulting companies in the state of Maine and the northeast, will provide HUD 232 LEAN financing to clients in New England through an exclusive partnership arrangement with Chicago-based Cambridge Realty Capital Companies, a firm that has ranked among the nation’s leading FHA-approved HUD lenders for more than a decade.

Sandy River Company Vice President Daniel Maguire (top right photo), a partner in the firm, said the arrangement expands upon a relationship with Cambridge that dates to the 1990s when Cambridge provided HUD financing for a portfolio of more than a dozen nursing home and assisted living properties developed, owned and operated by Sandy River Systems.

Sandy River sold its operating companies to Genesis HealthCare in 2007 but continues to own the real estate and lease the buildings to Genesis. Since the sale, Sandy River Company has transitioned into a full service consulting, advisory, development and loan origination firm that is able to draw upon many years of experience in all facets of the senior housing/healthcare business, he said.

The company has arranged more than $150 million in financing for nursing homes and assisted living projects using FHA-insured HUD programs.

Maguire said Cambridge is a privately-owned lender that has specialized in funding senior housing projects since the mid-1990s. Nationally, the FHA-approved lender has closed more than 300 transactions totaling more than $3 billion.

Evan Washington
Phone: (312) 521-7604
Fax: (312) 357-1611

Lincoln Property Co. Southeast Secures 10-year Lease at 2501 Discovery Lakes in Orlando, FL

ORLANDO, FL. (June 14, 2011) - Lincoln Property Company Southeast recently secured a 10-year lease with VaxDesign Corporation, one of the leading research corporations studying the human immune system.

A subsidiary of Sanofi Pasteur, VaxDesign leased a 34,318-square-foot space in the Discovery Lakes building (top left photo) located in the Central Florida Research Park.  Adjacent to the University of Central Florida, this class B office building at 2501 Discovery Lakes in Orlando, Fla. features lake views and a landscaped, park-like setting.

"Over the last year, LPC Southeast’s Orlando’s office has completed over 225,000 square feet of deals in the university research submarket," said Jay Dixon (lower right photo), vice president with LPC.

Dixon represented the owner and Steve Coughlin with Coughlin Commercial and Louis Kluger with ZM Zell Partner represented the tenant in this transaction.

 For more information on the Southeast Region of Lincoln Property Company, please visit www.lpcsoutheast.com
To check out the blog, go to http://blog.lpcsoutheast.com

. Contact:
Laura Dudebout
O: 404.965.5023
C: 678.642.4301

Renaissance Raleigh North Hills Hotel Wins AAA Four-Diamond Award


RALEIGH, NC, JUNE 14, 2011 – Officials of Concord Hospitality Enterprises, one of the nation’s top-ranked hotel developer/owner/operators, today announced that their flagship hotel, the Renaissance Raleigh North Hills Hotel (top left photo), has received the coveted Four Diamond ranking from AAA.

  In addition, the hotel was named Marriott International, Inc.’s 2010 Hotel of the Year.  Concord Hospitality owns, developed and manages the hotel.

“It is a singular honor to be chosen from among more than 60,000 properties nationwide to receive the coveted AAA Four Diamond designation,” said Mark G. Laport (middle right photo)  president and CEO of Concord. 

“To simultaneously be named a Marriott International Hotel of the Year as one of the company’s Renaissance Hotels is especially gratifying and a testament to the hard work and dedication of our associates.”

The AAA award is based on a property’s physical cleanliness and attractiveness, as well as the level of amenities, quality of service and hospitality.  The Hotel of the Year Award by Marriott International, Inc., was earned from high scores the hotel received for Associate Satisfaction, Leadership, Market Share, Financials and Guest Satisfaction.”

 “The hotel opened in 2009 and quickly established itself as a market leader,” Laport added.  “Also, during its inaugural year, the Renaissance Raleigh North Hills Hotel won the 2010 Best New Product Award from Marriott International, Inc.  The property continues to gain support from visitors to Raleigh, and we look forward to building on its award-winning reputation.”

Located at 4100 Main at North Hills Street, the Renaissance Raleigh North Hills Hotel anchors the North Hills shopping district and is near the Progress Energy Center for the Performing Arts. 

To make reservations and for more information visit www.renaissancehotels.com

Follow Renaissance on Facebook at www.facebook.com/RenaissanceHotels and on Twitter at www.twitter.com/RenHotels
and via the RLife blog at www.therenaissancelife.com

 For more information, visit www.concordhotels.com
Contact:  Chris Daly, Jerry Daly, (703) 435-6293, chris@dalygray.com