Friday, March 9, 2012

HFF hires Michael Ross as senior managing director in its Los Angeles office



 LOS ANGELES, CA – HFF announced today that it has hired Michael Ross (top right photo) as a senior managing director in its Los Angeles office. 

Mr. Ross will focus on office, industrial and land investment sales transactions in the Greater Los Angeles area and West Coast.  He has more than 30 years of experience in commercial real estate and has closed more than $6 billion in institutional property sales throughout his career.

 Prior to joining HFF, Mr. Ross was an executive vice president in Grubb & Ellis’ Institutional Capital Markets Group.  Before that, he held positions as a managing director at Colliers International and Coldwell Banker Commercial. 

Mr. Ross has served as the Chairman of Investment Properties for the Association of Industrial Realtors, is a member of Urban Land Institute and is a licensed California real estate broker.  He graduated from the University of Southern California with a Bachelor of Science in Business Administration.

“Mike is the fifth addition to HFF’s growing West Coast platform of investment sales professionals in the last five months and he is looking forward to being back with his former partners, Richard Plummer and Andrew Harper, who joined HFF in September 2011,” said Paul Brindley (lower left photo), senior managing director in HFF’s Los Angeles office.  


Contacts:    
   
PAUL C. BRINDLEY                                     
HFF Senior Managing Director                 
(310) 407-2100                                            
pbrindley@hfflp.com                                          
                                            
KRISTEN M. MURPHY
HFF Associate Director, Marketing
 (713) 852-3500

HFF secures $32.5 million financing for United Health Group’s headquarters in Eden Prairie, Minnesota

              
DALLAS, TX – HFF announced today that it has secured $32.5 million in financing for the 473,325-square-foot headquarters (top left photo) for UnitedHealth Group’s health services business, Optum, in Eden Prairie, Minnesota. 

Working exclusively on behalf of AG Net Lease Fund II, an affiliate of Angelo, Gordon & Company, HFF placed the 10-year, 4.8 percent, fixed-rate loan with Bank of America Merrill Lynch - Real Estate Structured Finance Group.  The securitized loan will be serviced by HFF.

Completed in 2001, the property is fully leased on a triple net basis to UnitedHealth Group.  UnitedHealth Group’s Optum Campus is situated on a 55.2-acre site at 13625 Technology Drive close to Interstate 494 about 12 miles southwest of Minneapolis.

The HFF team representing the borrower was led by directors Brandon Chavoya (middle right photo) and Coler Yoakam (lower left photo) and senior managing director Mark West.

Angelo, Gordon & Company is a privately-held registered investment advisor dedicated to alternative investing.  The firm was founded in 1988 and currently manages approximately $24 billion.  The firm is currently investing its second dedicated net lease fund, the $560 million AG Net Lease Fund II.


Contacts:    
           
 C. BRANDON CHAVOYA                        
HFF Director                                                  
 (214) 265-0880                                             
bchavoya@hfflp.com       
                                           
KRISTEN M. MURPHY
HFF Associate Director, Marketing
 (713) 852-3500

$400 million refinancing for five-property multi-housing portfolio closed by HFF


 WASHINGTON, D.C. – HFF announced today that it has arranged a $400 million refinancing for a five-property, 2,600-unit multi-housing portfolio located in Washington, D.C. and Hoboken, New Jersey.

HFF worked on behalf of Brookfield Real Estate Financial Partners to secure the floating-rate loan through M&T (FNMA). 

The properties average 98 percent occupancy overall and are located within the Washington, D.C. and New York City metropolitan statistical areas.

The HFF team representing Brookfield Real Estate Financial Partners was led by senior managing directors Bob Donhauser (top right photo) and Bill Asbill (lower left photo).

Brookfield is a global alternative asset manager with approximately $150 billion in assets under management.  The company has over a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity.

Contacts:    
           
 ROBERT F. DONHAUSER                        
 HFF Senior Managing Director                     
 (202) 533-2500                                             
                                           

KRISTEN M. MURPHY
HFF Associate Director, Marketing
 (713) 852-3500

Philip Palmer Joins Avison Young in Chicago


 
CHICAGO, IL, March 9, 2012 /PRNewswire/ - Michael McKiernan (lower left photo), Avison Young Principal and Managing Director of the company's Chicago office, announced today that leading commercial real estate broker Philip Palmer (top right photo) has joined Avison Young's brokerage operations in Chicago.

Effective immediately, Palmer joins Avison Young as a Principal and will focus his efforts on tenant advisory services. He was most recently a Senior Vice-President with Grubb & Ellis in Chicago.

"We couldn't be more pleased to have Phil join the Avison Youngorganization,”.comments McKiernan. “His background and industry expertise will be of great benefit to Avison Young clients.

 "In his advisory role, Phil always brings a detailed management and service-oriented approach while emphasizing innovation, entrepreneurialism and the
bottom line. He consistently ranks among the top producers in Chicago and will bring a tremendous depth of real estate knowledge to our firm."

Contact:
Sherry Quan,
National Director of Communications and Media Relations,
 Avison Young,
(604) 647-5098,
cell: (604) 726-0959

Colliers International Closes $8.25 Million Sale of Industrial Multi-Tenant Project in Long Beach, CA


 LONG BEACH, CA, Mar. 8, 2012 – Colliers International, the third largest global real estate services organization, has completed the sale of a two-building multi-tenant industrial park (top left photo) totaling 121,127 square feet, located at 701-733 West Anaheim Street and 700-806 West 14th Street, Long Beach, Calif.

 The transaction is valued at $8.25 million.

Patrick Remolacio (middle left photo), Managing Director, and Bret Hardy (lower right photo), Executive Managing Director, based in Colliers International’s Irvine and Downtown Los Angeles offices, together with their co-listing partners, David Prior (lower left photo) and Murray Smith of the Klabin Company’s Torrance office, represented both the Seller and Buyer. 

The Seller was Bechler Corp of Long Beach Calif.   The Buyer was Rader Properties Group 14, LLC also based in Long Beach, Calif.   Bill Townsend, president of INCO Commercial in Long Beach, also assisted in the transaction and is the project leasing agent.

 “The Anaheim Street multi-tenant industrial park is the 14th asset that Colliers has successfully sold in Bechler Corp’s onetime 1,000,000 square foot Southern California industrial portfolio, since the marketing effort began in October 2009,” said Remolacio. 

For a variety of reasons, Bechler Corp had earlier made a decision to monetize the company’s investment real estate assets and distribute the sale proceeds as received to its 50-plus shareholders. 

“Through a series of one-off transactions to both users and investors over the past 28-months, Colliers efforts resulted in generating total sale proceeds in excess of $80-million”

 “At the time of sale, the project was operating at approximately 90% occupancy with 25 tenants occupying 34 of the 36 units.  Many of the tenants in this multi-tenant complex are engaged in businesses that support and fulfill the needs of a variety of operations taking place within the Ports of Long Beach and Los Angeles terminal operations.” said Hardy. 

 Contact:
Jennifer Hsieh
Regional Marketing Manager
+1 949 724 5545



Marcus & Millichap Sells 120-Unit Southern Oaks Apartments in Tampa, FL


 TAMPA, FL, March 8, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Southern Oaks (top left photo), a 120 unit Apartments property located in Tampa, FL, according to Bryn D. Merrey, Vice President/Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $3,050,000.

Michael P. Regan (middle right photo) and Francesco P. Carriera (middle left photo), investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, was also exclusively secured and represented by Regan and Carriera.

Southern Oaks is located at 13533 Gragston Circle.  This 120-unit apartment complex is located near Bearss Avenue and Fletcher Avenue and within easy access to I-275 and I-75.  It is just a short distance from the University of Southern Florida, a major national research university.
  
The property has on-site parking, laundry facilities and a pool and is situated on approximately 6.78 acres of land.

  “We were able to devise a marketing campaign to highlight the strong points of the deal. The fact that we had multiple offers from buyers throughout the Southeast is another sign that this submarket is stabilizing” comments Regan.

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

Lincoln Property Company Southeast Begins Managing and Leasing Silhouette Midtown Atlanta



 ATLANTA, GA (March 9, 2012) – Lincoln Property Company Southeast has taken over the management and leasing of Silhouette Midtown (top left photo), a 10-story, 116,600-square-foot office building located at 1447 Peachtree Street in the heart of Midtown Atlanta. Wells Fargo awarded Lincoln the assignment after a competitive bid.

 Lincoln managed and leased the building, which sits between the High Museum and the Savannah College of Art and Design, from 2006 to 2008.

During that time, the company oversaw an extensive renovation of the property, which was constructed in 1964.

 The $3.2 million renovation was an effectiverepositioning effort that included a full replacement of the building systems, a new fa├žade with energy efficient glass and glazing, extensive hardscape and landscape on the Peachtree Street frontage, a stylish new lobby, and distinctive murals painted along the south and west faces of the building, from which the building draws its name.

Since its renovation, the boutique office space has been marketed to technology and creative firms.

 The building is currently 74 percent leased and has one full floor totaling about 11,000 square feet available. Notable tenants include Digitas, TALK International and Farrington Design Group.

David Danhof, (top right photo), vicepresident for Lincoln, and Sabrina Altenbach (middle left photo) and Daniel Bamberger, leasing associates for the firm, will oversee the leasing of the property.

 “Silhouette Midtown is a wonderfully unique, ‘jewel box’ office building,” said Tony Bartlett, (lower right photo),  senior vice president of Lincoln Property Company Southeast. “We could not be more excited about the chance to be associated again with this asset and work with an important client like Wells Fargo to create value for this assignment.”

 For more information on the Southeast Region of Lincoln Property Company, please visit http://www.lpcsoutheast.com/.

To check out the blog, go to http://blog.lpcsoutheast.com.

Contact
Stephen Ursery
 Wilbert News Strategies LLC
404-965-5026

Bull Realty Brokers Lease of 45,540-SF Former Havertys Retail Site in Birmingham, AL to Mercy Medical

  

ATLANTA, GA (March 8, 2012) – Bull Realty has brokered the lease of a 45,540-square-foot former Havertys Furniture store in Birmingham, Ala., to Mercy Medical.

 Mercy Medical (top right photo), which signed an 11.5-year lease, will renovate the free-standing building, which is located directly off Interstate 20 in Birmingham’s Irondale submarket, and begin operations of a senior-citizen medical clinic and physical therapy center there in the late fall of this year.

Michael Bull (middle left photo), joined by team members Theresa Johnson (middle right photo) and John Harrison (lower left photo) of Bull Realty, represented Havertys in the transaction, and Craig Dyas of DYAS LLC represented the tenant.

“This is an exciting and innovative use of a former retail site,” said Bull, the president and founder of Bull Realty.

“Shortly after taking over the leasing assignment of a property that had been vacant for several years, we were able to secure a first-class tenant that brings tremendous value to our client and the surrounding community.

“This transaction is another example of our ability to locate tenants in a tough market.”

Bull Realty Inc. is a full-service commercial real estate brokerage firm providing investment sales services throughout the nation and corporate services in the Southeast.

 The firm was founded 14 years ago with two primary missions: 1) to provide a company of stellar integrity and reputation, and 2) to provide the best commercial real estate marketing in the nation.

For More Information, Contact
Stephen Ursery
 Wilbert News Strategies LLC
404-965-5026