Friday, August 31, 2012

MAA Announces Acquisition of Haven at Blanco Apartments in San Antonio, TX

MEMPHIS, TN /PRNewswire/ -- MAA (NYSE: MAA) announced it has completed the acquisition of Haven at Blanco (top left photo), an upscale 436-unit multi-family apartment community in San Antonio, Texas.

Haven at Blanco was developed in 2010 and is located just minutes from San Antonio's northwest job corridor, the city's largest employment sector. 

The community also has excellent access to major thoroughfares and is less than ten minutes from USAA, San Antonio's largest private employer, and the South Texas Medical Center, which is home to 45 medically-related institutions.

The Haven at Blanco community provides residents with a wide array of amenities including a private entrance gate, resort-style swimming pool with cabanas and heated spa, and both attached and detached garages.

The apartment homes boast an average 1,063 square feet and offer nine foot ceilings with crown molding, walk-in closets and granite countertops in select units.

Commenting on the announcement, Al Campbell (lower left photo), EVP and CFO said, "We are pleased to be expanding our footprint in the San Antonio market.  We believe our operating platform in this economically diversified area will generate attractive investment returns for our shareholders."

For a complete copy of the company’s news release, please contact:

 Investor Relations of MAA,

Beech Street Capital Provides $20.4 Million in Freddie Mac Loans to Acquire West Palm Beach, FL Apartments

BETHESDA, MD – Beech Street Capital, LLC announced it provided $20.4 million in Freddie Mac Capital Markets Execution loans for the acquisition of Golf Villas at Sabal Palm and Palo Verde.

David Hayum originated the transactions for Meridian Capital Group, LLC, which was financed by Beech Street Capital as part of its correspondent relationship with Meridian.

 The borrower, a repeat client of Beech Street, was impressed with the execution of Golf Villas, their first with Freddie Mac.

 “We worked with Freddie Mac to meet the borrower’s acquisition timeline,” states Rick Del Roio, deputy chief underwriter. “Pleased with the transaction, the borrower signed up a second Freddie acquisition with us to finance another West Palm Beach apartment complex, Palo Verde.” The transactions closed one month apart.

 Golf Villas at Sabal Palm, a 166-unit apartment complex, is located in the city of West Palm Beach, Broward County, approximately 15 miles from downtown Fort Lauderdale business district, with convenient access to Interstate 95, the Florida Turnpike, and the Sawgrass Expressway.

 Built in 1987, the property consists of nine, two-story apartment buildings and one leasing office. Amenities include a swimming pool and spa, a cabana changing facility, tennis courts, a laundry facility, as well as 279 open parking spaces. 
Palo Verde, a 276-unit apartment complex, is located in West Palm Beach, approximately six miles southwest of the West Palm Beach central business district. Interstate 95, the Florida Turnpike, Palm Beach International Airport and

 The fixed-rate loans have a 10-year term and a 30-year amortization schedule.
For a complete copy of the company’s news release, please contact:

Courtney Lewis
 240-507-1948 or
Jenifer Bernardi

.Web site:
Web site: 

CFA Presents 2012 Contractor of the Year Award to Lance Jordan

MT. VERNON, IA -- The Concrete Foundation Association (CFA) – an organization dedicated to improving the quality and acceptance of cast-in-place concrete foundations – announces the presentation of its 2012 Contractor of the Year Award to Lance Jordan (top left photo).

Jordan, Chairman of Stephens & Smith Construction Co.  Inc. of Omaha and Lincoln, Neb. has been a member of CFA for over a decade. Jordan served as a Board member for a 3-year term ending last year.

 He was nominated for this prestigious award for his leadership in a CFA position on OSHA’s residential fall protection regulation that became effective earlier this year.

“I am very humbled to be recognized by our “peer companies” who are members of the CFA,” states Jordan.  “For well over thirty years we have admired many of the CFA companies and their owner/managers.

“In fact we have tried to duplicate many of their processes and systems, which we felt fit our own ‘business model’. The CFA and its members definitely have set the standards of quality, excellence and professionalism for the cast-in-place foundation industry.”

The annual award recognizes the contributions of a poured wall contractor to the industry. This year’s award was presented at the CFA Summer Convention held on Jul. 26-29th in Acme, Mich. at the Grand Traverse Resort.

For a complete copy of the company’s news release, please contact:

Ed Sauter, 319-895-6940 or
Jim Baty, 319-895-6911 or

Thursday, August 30, 2012

HFF facilitates $59 million ground lease of 177 Huntington Ave. in Boston

BOSTON, MA – HFF announced today that it has finalized the long-term ground lease of 177 Huntington Avenue on the Christian Science Plaza (top left photo) in Boston. 

HFF exclusively represented The First Church of Christ, Scientist, and the Trustees of Church Realty Trust and procured the ground lessee – an affiliate of Beacon Capital Partners, LLC (

177 Huntington Avenue is an iconic 26-story, 198,825-square-foot office tower located in the heart of Boston’s Back Bay neighborhood.

 This modernist landmarked structure was designed by “internationally renowned” architects I. M. Pei & Partners and Araldo A. Cossutta, Associated Architects.  The building was completed in 1972 to house the Church’s administration departments and is connected to a 550-space underground parking garage.  The Church occupied the building until 2008, when it moved its worldwide headquarters into the renovated Christian Science Publishing House Building, also on the Plaza.

The HFF team representing the lessor was led by managing director Coleman Benedict and director Ben Sayles along with executive managing director John Fowler, senior managing director Riaz Cassum and senior real estate analyst Mark Campbell. 

For a complete copy of the company’s news release, please contact:
COLEMAN BENEDICT                                 
HFF Managing Director                                      
 (617) 338-0990                                                    
HFF Associate Director, Marketing
(713) 852-3500

North American Properties Begins Construction on ParkCentral Luxury rental community on Centennial Park in Nashville, TN

ATLANTA, GA (Aug.29, 2012) — North American Properties (NAP) announced today that it is beginning construction at ParkCentral, an eight-story, 200-unit luxury rental community on Nashville’s Centennial Park.

ParkCentral residents will be within walking distance of all the shopping, dining and entertainment in Nashville’s West End. 

Located two blocks from Vanderbilt University (lower left photo), one block from Centennial Hospital and less than a half-mile from Baptist Hospital, ParkCentral is the only luxury residential community located directly on Centennial Park. Known as Nashville’s premier urban park, Centennial Park is 132 acres — larger than Boston Commons and nearly as large as Atlanta’s Piedmont Park.

“ParkCentral residents will have the ultimate playground right in their front yard,” said Richard Munger (top right photo), partner and vice president of development for NAP. “In a single day one could walk home from work, exercise on the park’s running trails, attend one of the many seasonal festivals or concerts at the park, walk to dinner and attend a sporting event at Vanderbilt.”

For a complete copy of the company’s news release, please contact:

Elizabeth Hagin
O: 404-965-5023
C: 678-642-4301

To follow ParkCentral's progress and inquire about leasing, please visit or find us on Facebook and Twitter.

Wednesday, August 29, 2012

NAI Realvest Negotiates Sale of 8.7 Acre Commercial Site in Winter Springs, FL

ORLANDO, FL. – NAI Realvest recently negotiated the sale of an 8.72 acre commercial site known as Parcel 14B-1 located on Dover drive just west of the Oviedo Marketplace in Winter Springs.

Paul P. Partyka (top right photo), the managing partner of the firm, and associate George Viele brokered the transaction representing the seller, The Viera Company, of Melbourne. 

 The buyer, Orlando-based Flagship Development Viera LLC, purchased the property for $450,000.

For more information, contact:

 Paul P. Partyka or George Viele, NAI Realvest 407-875-9989;;
Beth Payan or Larry Vershel, Larry Vershel Communications 407-644-4142

LandMark Retail Group Completes Development of Two CVS/Pharmacy Stores in California

 Bakersfield, CA and Palmdale, CA(Aug. 29, 2012)—LandMark Retail Group, a full service retail development firm, has completed the development of two CVS/Pharmacy stores in Calif. -- Bakersfield and in Palmdale.

Since 2007, the firm has developed 30 stores in California and has 12 additional opening scheduled for this year.

 Located at the corner of Ming and Buena Vista, in the heart of Seven Oaks, Bakersfield most distinctive and elegant master planned community, this CVS will be a part of the newly developed Grand Island Village Shopping Center, a 90,000 square foot neighborhood/specialty style shopping center that shares street corners with the Seven Oaks Country Club. The shopping center is home to Chevron, Republic Bank and other small tenants..

The second CVS/Pharmacy store is located on the corner of 47th Street and R Street in Palmdale, Calif. (middle right photo). It is located in a Vallarta-anchored shopping center and offers a drive-thru pharmacy.

This store is located in a neighborhood shopping center with regional attraction and will serve the immediate neighborhood as well as the larger Palmdale community.

"Landmark identified this location as part of a larger strategy for the market and then negotiated a ground lease on behalf of CVS, said Sandy Sigal, (lower left photo) Chairman, Landmark Retail Group. “We coordinated the design and approvals with the ownership and delivered the store on time and on budget."

For a complete copy of the company’s news release, please contact:

David Ebeling
Ebeling Communications
949.278.7851 (Cell)

Marcus & Millichap Lists $25 Million Self-Storage Portfolio in Palm Harbor, FL

  TAMPA, FL, Aug. 29, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has the exclusive listing to market a three-property, 2,250-unit portfolio in Florida for Safeguard Self Storage (top left photo).

Located in Palm Harbor, Tampa and St. Petersburg, the storage assets are listed at $25 million, or $111 per square foot. The properties may be acquired individually or as a portfolio.

Michael Mele (lower right photo), a first vice president investments and senior director of the firm’s National Self-Storage Group (NSSG) in Tampa, is representing the seller, Safeguard Self Storage.

“A savvy investor has the opportunity to acquire three Class A self-storage facilities in the highly desirable Tampa Bay region,” says Mele. “Extremely well-located with excellent highway visibility, these properties feature a variety of amenities, which further enhance their long-term investment value.”

For a complete copy of the company’s news release, please contact:

Stacey Corso
Public Relations Manager
(925) 953-1716

M/I Homes Relocates to New Headquarters Facility in Heathrow, FL Area

LAKE MARY, FL ---  M/I Homes, formerly located on Colonial Centre Parkway in North Seminole County, has relocated to new headquarters facilities approximately one mile south at 400 International Parkway in the Heathrow area.

David Byrnes (top right photo), 30-year veteran homebuilder and former president of Beazer Homes in Florida who recently rejoined M/I Homes as area president, said M/I’s headquarters now totals over 14,000 square feet of office space.

M/I Homes builds single-family homes and town homes priced from the $130s in 10 Orlando-area communities.

For media information,  contact:
David Byrnes, Area President, M/I Homes Central Florida, 407-531-5100
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

American Healthcare Investors Facilitates Acquisition of 20 Buildings for More Than $100 Million on Behalf of Griffin-American Healthcare REIT II


 NEWPORT BEACH, CA (Aug. 29, 2012) – American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT II, Inc., announced today the acquisition of 13-buildings known as the Pacific Northwest Senior Care Portfolio, as well as an additional seven medical office buildings located in Illinois, Texas,Tennessee and Georgia by the REIT for an aggregate purchase price of approximately $103 million. 

 Currently, the REIT’s portfolio totals 110 buildings valued at approximately $925 million, based on purchase price, diversified across 26 states. 

(Naperville, IL Medical Office Building, middle left photo)

Since Jan. 1, 2012, the portfolio has grown by approximately 111 percent, based on purchase price, while maintaining leverage of 31.2 percent (total debt divided by total assets), as of June 30, 2012, among the lowest in the non-traded REIT industry, according to independent research provided by Blue Vault Partners LLC.

(Temple, TX Medical Office Building, middle right photo)

“We seek to acquire properties that provide multiple levels of diversification to Griffin-American Healthcare REIT II,” said Danny Prosky (top right photo), a principal of American Healthcare Investors and president and chief operating officer of the REIT.

 “These latest acquisitions are a good example of this – they add geographic, asset and payor mix diversification to an already substantial nationwide portfolio of healthcare-related properties.”

The seven medical office buildings total approximately 199,000 square feet and are located in Naperville and Urbana, Illinois; Temple, Killeen and Rowlett, Texas; Shelbyville, Tennessee; and Jasper, Georgia.

For a complete copy of the company’s news release, please contact:

Damon Elder
Senior VP, Marketing & Communications
American Healthcare Investors
4000 MacArthur Boulevard
West Tower, Suite 200
Newport Beach, CA 92660
(949) 270-9207 direct
(714) 356-1460 cell

Plaza Advisors Holdings Announces Sale of Publix at Avalon Park in Orlando, FL

TAMPA, FL -- Plaza Advisors Holdings is pleased to announce the sale of Publix at Avalon Park shopping center (top left photo).

The plaza is situated in the center of the 1,860-acre Avalon Park Community in Orlando, Florida. The asset totals 64,494 square feet of gross leasable area.

The center was constructed in 2004 and was 91.4% leased at the time of sale. The seller and buyer were Avalon Town Center LP, LTD. and BET Investments, Inc. The transaction closed on Aug. 21, 2012.


Jim Michalak
Managing Partner
Plaza Advisors
3412 Bay To Bay Boulevard
Tampa, FL 33629
813.837.1300 Ext. 101
Fax 831.2627

HFF arranges $200 million refinancing for Newport Tower in Jersey City, NJ


WASHINGTON, D.C. – HFF announced today that it has arranged a $200 million refinancing for Newport Tower (top left photo), a 1.1 million-square-foot, Class A office tower in Jersey City, New Jersey.

HFF worked exclusively on behalf of MEPT Newport Tower LLC, a subsidiary of Multi-Employer Property Trust and advised by Bentall Kennedy, to secure the seven-year, 3.5 percent fixed-rate loan through Prudential Mortgage Capital Company. 

Completed in 1990, Newport Tower is located at 525 Washington Boulevard in the Newport area of Jersey City.

 The 36-story LEED Gold property features amenities such as a full-service cafĂ©, sundry shop, deli, on-site banking, covered parking and direct connection via a skywalk to the 1.2 million-square-foot Newport Centre Mall. 

The building is 90 percent leased to tenants including AXA, BNP Paribas, Brown Brothers Harriman, Bank of America Merrill Lynch, and Computershare.

The HFF team representing the borrower was led by managing director Cary Abod (middle right photo) and senior managing directors Whit Wilcox (middle left photo), Mike Tepedino (lower right photo) and Tom Didio.

Multi-Employer Property Trust (“MEPT”) is an open-end commingled real estate equity fund that invests in a diversified portfolio of institutional-quality real estate assets in the United States.  Founded in 1982, MEPT now has more than $5.56 billion in net assets and has become one of the largest real estate equity funds in the US.

Bentall Kennedy is one of North America’s largest real estate investment advisors, providing its clients with access to one comprehensive North American real estate platform.  Bentall Kennedy serves the interests of more than 500 clients on assets of more than $27 billion across 140 million square feet of office, retail, industrial, apartment and hotel properties.


CARY P. ABOD                                               
 HFF Managing Director                                  
  (202) 533-2500                                               
HFF Associate Director, Marketing
(713) 852-3500

Tuesday, August 28, 2012

Smith Equities Closes Two Tallahassee, FL Multifamily Properties

ORLANDO, FL (Aug. 28, 2012) – Smith Equities Real Estate Investment Advisors is
pleased to announce the recent sale of two multifamily properties located in Tallahassee, Fl.

The Sweet Bay Club Apartments (top left photo) is a 41 unit (164 bed student property) located on Old Bainbridge Road that sold for $3,150,000 or $19,200 per bed.

Sweet Bay was built in 2003 and was comprised of all 4 bedroom 4 Bath units averaging 1596 SF per unit.

The seller was Mica Creek-Sagamore MF Venture V: Osceola, LLC. The buyer, Varden Capital Properties, LLC is planning to reposition the property toward a more student friendly environment.

Gerald A. Smith, (middle right photo) Senior Investment Advisor for Smith Equities Real Estate Advisors brokered the deal.

The 180 unit Monterey Apartments (lower left photo) sold for $3,750,000 or $20,833 per unit. Built in 1974, the average size was 989 SF per unit. The seller, Monterey Associates LTD, a Wisconsin limited partnership had owned the property since it was built. The buyer, Cabat Properties LLC is planning a major renovation and repositioning of the property.

 Smith brokered both deals.

“The Tallahassee multifamily market remains very strong in both occupancy and rents. The combination of a strong student population along with the government infrastructure in Tallahassee provides the demographics for a high level of investor demand for this market” said Smith.

“Having the technology to assess the market conditions and provide timely market data
to potential buyers is the key to successfully marketing and closing transactions.

" As a boutiquebrokerage specialized in multifamily investments, the brokerage technology we have developed allows us to immediately distribute detailed information about an investment opportunity to buyers that we know would be interested in a particular type of asset. In both cases, based on the sellers’ time constraints, we were able to contact suitable buyers, evaluate offers, go to contract and close within those time constraints” says Smith


Gerald A. Smith
Senior Investment Advisor
Smith Equities Real Estate Investment Advisors
350 East Pine St
Orlando, Fl 32801
Ph: (407) 422-0704 ext. 103
Cell: (407) 810-1628

Colliers International South Florida Represents Walmart Sublease

 MIAMI, FL, Aug. 28, 2012 - Colliers International South Florida is pleased to announce that Randy Olen (lower right photo), Executive Vice President, and Joe Abood, Office Leasing Specialist, have been retained to represent Walmart Stores, Inc. in subleasing a 7,096-square-foot office space at the 16-acre Corporate Park of Doral.

"This sublease is an ideal opportunity for prospects looking for immediate occupancy, a short term lease and excellent exposure with exterior signage visible from the Palmetto Expressway," says Olen.

The space, located at 7747 NW 48th Street, Suite 160 (top left photo) in Miami, can be subdivided to 3,548 square feet. Features include high-end modular furniture, closed circuit cameras, a large kitchen area and two conference rooms. 

 For more information on the listing, please contact Randy Olen or Joe Abood at + 1 305 446 0011.

Media contact:  

Crystal Proenza
Vice President of Marketing
Colliers International South Florida
Commercial Real Estate Services
Tel: 305 476 7138

Morris, Manning & Martin’s John G. “Sonny” Morris Included Among Atlanta's Real Estate Icons

Atlanta, GA ─ John G. “Sonny” Morris (top right photo), a founding partner of Morris, Manning & Martin, LLP, and the firm’s current Chairman, was included among Atlanta’s Real Estate Icons in an article in a recent issue of Real Estate Forum magazine, a national publication.

The article noted that “Atlanta’s ability to abound and rebound over the past few decades isn’t based on it strategic location alone ─ it’s also based on the professionals who helped shape the market.”
Other Atlanta Real Estate Icons included: Charles Ackerman, David Allman, Brantley Barrow, Hal Barry, Jim Borders (lower left photo), Robert Cole, Tom Cousins, Larry Gellerstedt, Timothy Gunter, Jim Jacoby, Christoph Kahl, A.J. Land Jr., John McDonald, R. Brand Morgan, Egbert Perry, Bob Peterson, John Portman, Ferdinand Seefried, Steve Selig, Ray Weeks, Leo Wells and John Williams.

For a complete copy of the company’s news release, please contact:

Terri Thornton
(404) 932-4347

Berger Commercial Realty’s Brad Shepherd Appointed to Property Committee of Broward County YMCA


 FORT LAUDERDALE, FL (Aug. 28, 2012) – Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced that Vice President of Berger Special Assets Brad Shepherd (top right photo) has been appointed to the Property Committee of the YMCA of Broward County.

 He will assist in providing asset management advice by reviewing current and future facilities for the YMCA of Broward County.

 For a complete copy of the company’s news release, please contact:

Marielle Sologuren
Pierson Grant Public Relations
(954) 776-1999, ext. 226

Christopher K. Ivy Joins Interstate Hotels & Resorts as Executive Vice President, Development and Acquisitions


 ARLINGTON, VA, Aug. 28, 2012—Interstate Hotels & Resorts today announced that Christopher K. Ivy joined the company as executive vice president, development and acquisitions. 

In his new position, he will focus on sourcing business development projects within the select-service sector.  Ivy will report to Interstate’s chief investment officer, Leslie Ng (top right photo)

Ng noted that Ivy’s appointment compliments a strong team that includes Edward J. Blum (lower left photo), Interstate’s executive vice president, development and acquisitions who is focused on the full-service and resorts sectors.

“Chris has more than 20 years of experience acquiring and developing hotels, working through every economic cycle and in every sector of the industry,” said Ng.  “His experience with several leading international brands and strong industry relationships, combined with our reputation as world-class operators of select-service hotels, will be pivotal for our growth going forward.”

For a complete copy of the company’s news release, please contact: 

Chris Daly/Lauralee Dobbins 
Daly Gray                                                      
(703) 435-6293                                                                                          

Marcus & Millichap Capital Corp. Arranges $7.8 Million Multifamily Loan in Fort Worth, TX

FORT WORTH, TX – Marcus & Millichap Capital Corporation (MMCC) has arranged a $7,840,000 loan for a 316-unit multifamily property.

Brian Adams (top right photo), an associate director in MMCC’s Dallas office, arranged the acquisition financing.

 “An out-of-state investor entered the Dallas/Fort Worth market, and the purchase required the structuring of a fully leveraged acquisition loan,” says Adams. “MMCC secured an 80 percent LTV, nonrecourse loan for the property through one of our correspondent agency lenders.”

He adds, . “We closed the transaction in just 35 days from application at higher loan proceeds and a lower rate than were originally anticipated.”

Built in 1985, the property received a major upgrade in 2010 and was 94 percent occupied at closing.

The 10-year loan amortizes over 30 years at an interest rate of 3.87 percent.

Press Contact:

Stacey Corso
Marcus & Millichap Capital Corporation
(925) 953-1716

$19 Million Lender-Owned Independent Living Complex Sold in Jacksonville, FL by Marcus & Millichap

 JACKSONVILLE, FL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of Brighton Bay (top left photo), a lender-owned, 185-unit independent living community located in southeastern Jacksonville.

The sales price of $19 million represents $102,703 per unit and $85 per square foot.

 Michael Pardoll (middle right photo), a senior vice president investments in Marcus & Millichap’s Charlotte, N.C. office, represented the seller, a subsidiary of Wells Fargo & Co.

The buyer is The Carlyle Group, a Washington, D.C.-based asset management company. Kirk Felici (lower left photo), a vice president and regional manager of the firm’s Miami office, is Marcus & Millichap’s Florida broker of record.

 “Occupancy at independent living facilities will continue to strengthen as spillover demand filters in from age-restricted and market-rate communities,” says Pardoll. “Brighton Bay is well positioned to take advantage of this trend and also to change with the times as the property was built to code for conversion to assisted living.”

The property is located at 10061 Sweetwater Parkway, less than one mile from Florida State Road 9A, next door to a 1,000-resident retirement community and 15 minutes from downtown Jacksonville.

 The 222,444-square foot Brighton Bay was constructed in 2010 on 8.2 acres. The community offers studio and one-bedroom and two-bedroom residential suites on four floors. All suites include a full kitchen, large living room and one or more bathrooms.


Stacey Corso
Public Relations Manager
(925) 953-1716

STAG Industrial, Inc. Announces Acquisition Of Two Industrial Facilities in Simpsonville, SC For $9.2 Million

BOSTON, Aug. 27, 2012 /PRNewswire/ -- STAG Industrial, Inc. (NYSE:STAG) announces the acquisition of two industrial buildings for approximately $9.2 million containing a total of 411,994 square feet.

 The buildings are located in Simpsonville, South Carolina and are primarily leased to Lanxess Corporation with over 4 years of remaining lease term. 

Lanxess Corporation develops, manufactures, and markets chemicals, synthetic rubber, and plastics to the automotive, plastics manufacturing, construction, and sports industries.

This acquisition brings STAG's total 2012 acquisition volume to approximately $145 million.


Gregory W. Sullivan,
Chief Financial Officer,
 STAG Industrial, Inc.,