Friday, March 16, 2012
DALLAS, TX – HFF announced today that the team of Ryan Maconachy (top right photo) and Chad Lavender (middle left photo) has joined the firm’s Dallas office to lead HFF’s charge into the seniors housing investment sales business. The two producers will be a part of HFF’s National Seniors Housing Group and will focus on seniors housing investment sales nationally.
The team was responsible for more than $225 million in institutional seniors housing sales during the prior 12 months, including the largest single asset sale of 2011, The Carlisle Naples for $85 million in Naples, Florida.
Mr. Maconachy, who joins HFF as a managing director has more than six years of experience in the seniors housing market and was most previously the national director of ARA’s National Seniors Housing Group.
Prior to that, he was the vice president of acquisitions for a private equity firm that purchased seniors housing and multi-housing properties. Mr. Maconachy holds a Bachelor of Business Administration degree in Finance and Marketing and a Masters in Business Administration from Loyola Marymount University’s Hilton School of Business.
Mr. Lavender, who will be a director at HFF, was also a producer and integral part of ARA’s National Seniors Housing Group. Prior to ARA, he worked at Harwood International, most recently as the director of acquisition and dispositions. Mr. Lavender graduated from The University of Alabama with a Bachelor of Finance degree.
“We are pleased to have Ryan and Chad as part of HFF’s National Seniors Housing team. They bring with them a wealth of knowledge and client relationships in the seniors housing market, which we are looking forward to expanding as a property specialty,” said Jody Thornton (lower right photo), executive managing director in HFF’s Dallas office.
JOE B. THORNTON
HFF Executive Managing Director
KRISTEN M. MURPHY
HFF Associate Director, Marketing
TAMPA, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Dale Mabry Palms Apartments (top left photo), a 40-unit apartment property located in Tampa, Florida, according to Bryn D. Merrey, vice president and regional manager of the firm’s Tampa office.
The asset commanded a sales price of $2,000,000.
Casey Babb (middle right photo), CCIM, a senior multifamily specialist, and Luis Baez (middle left photo), multifamily specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a developer. The buyer, a private investor, was also secured and represented by Babb and Baez.
Apartments are housed in 10 two-story, concrete block buildings with newly painted stucco exteriors and pitched shingle roofs.
“In the under 50-unit apartment market in Tampa, this transaction is among the first of what we think will be a wave of property trades for previously distressed properties that were bought between 2008 and 2010, repositioned and resold” comments Babb.
“In the case of Dale Mabry Palms, the property was bought out of receivership when it was 100 percent vacant and boarded up.
“The property then received a nearly $1 million cash infusion before restabilizing in late 2011. The incoming buyer achieved a 9.8 percent cap rate on 82.5 percent physical occupancy and the seller made a 25 percent profit over and above his capital invested” adds Babb.
Press Contact: Bryn D. Merrey, Vice President/Regional Manager, Tampa
SARASOTA, FL /PRNewswire/ -- The strength of the Canadian dollar, sustained by lower pricing in the US housing market, and perceptions regarding the general economic US outlook, continue to prod Canadians to purchase a home in the Sunbelt states.
According to the National Association of Realtors (NAR) 2011 Profile of International Buying Activity, Florida and Arizona remain viewed among top choices because of their favorable winter climate.
In fact, 58 percent of all international sales in 2011 came from just four states: Florida at 31 percent, followed by California at a distant 12 percent, Texas accounted for nine percent and Arizona at six percent.
Even for international buyers it's location, location, location. Forty-three percent of those surveyed report a favorable location as their clients' most important factor when choosing where to purchase.
That was followed by 27 percent who stated their clients' top reason to buy in the US was that they view US real estate as a profitable investment. Canadians specifically purchase due to a perceived positive return on their investment.
They also showed a strong desire for a lakefront recreational location. In fact, eight percent of Florida re-sales were to Canadians in 2010. Similar culture, closeness to their native homeland, and lack of a communication barrier are also factors steering Canucks to the lower 48.
The NAR profile also showed that in the 12 month period ending March of 2011, Canadians accounted for 23 percent of all foreign buyers - the largest of any country.
In a 2010 article, Canada's largest daily newspaper The Globe and Mail reported that a vast majority of Canadians were paying cash for their purchase. That may have been due in part to the somewhat cumbersome U.S. mortgage process.
"There are few lenders who have a mortgage process tailored for Canadians looking to purchase a home in the U.S.," said Sheila Blom (top right photo), Florida Mortgage Market Manager for M&I, a part of BMO Financial Group.
"Our parent company is based in Toronto, so naturally we have relationship products specifically designed to meet the needs of Canadian customers for purchasing or refinancing their primary residence, second home or investment property in the U.S."
When all is said and done, it appears that our northern neighbors are anxious to do whatever it takes to own a piece of the American dream - and that's all good news for our housing market.
Carey Allen of M&I, a part of BMO Financial Group,
Brookfield Real Estate Services Inc. reports fourth quarter and annual 2011 results and monthly dividend
TORONTO, CANADA /PRNewswire/ - Brookfield Real Estate Services Inc.
(the Company) (TSX: BRE), a leading provider of services to residential real estate brokers and their REALTORS®¹, announced that cash
flow from operations ("CFFO") for the three and twelve months ended December 31, 2011 was $5.4 million and $25.3 million, respectively, as compared to $5.0 million and $25.2 million, respectively, for the same
period in 2010.
For a complete copy of the company’s news release and statistics, please contact:
Director, Public Relations & National Communications
Brookfield Real Estate Services Inc.