Tuesday, March 20, 2012

Lincoln Property Company Southeast Hires Chip Sipple As Senior Analyst


ATLANTA, GA (March 20, 2012) – Lincoln Property Company Southeast has hired Chip Sipple (top right photo) as a senior analyst.

Sipple, who was previously a senior investment analyst for Prudential Asset Resources, will analyze office, industrial and retail assets for acquisition opportunities and disposition assignments. His research also will also aid Lincoln in support of its various lines of business.

At Prudential, Sipple worked with the Special Servicing division on problem loan resolutions and REO disposition strategies. Prior to his stint with Prudential, he worked for Trimont Real Estate Advisors and Bullock and Mannely Partners.

“Chip was a stellar performer at Prudential, and we couldn’t be more excited to put his analytical skills and market knowledge to work for Lincoln and our clients,” said Tony Bartlett (middle left photo), senior vice president of Lincoln Property Company. “His keen insight and experience will help us deliver outstanding service to our clients and partners.”

Sipple received a Bachelor of Business Administration with concentrations in Finance and Real Estate from the University of Georgia’s Terry Business of College. He is a member of the Terry Real Estate Alumni Network’s Steering Committee and a member of the Terry School of Business Alumni Association.

 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.


Stephen Ursery
Wilbert News Strategies

Associations Lend Commercial Real Estate Industry a Helping Hand

 ATLANTA, GA – Navigating the world of commercial real estate is no easy task. Fortunately, it’s a task you don’t have to undertake on your own. Numerous associations help industry members network, grow their businesses and stay up to date on emerging issues.

 The most recent episode of the “Commercial Real Estate Show” examined four of the leading commercial real estate associations: the International Council of Shopping Centers (ICSC), the Building Owners and Managers Association (BOMA) International, the Certified Commercial Investment Member (CCIM) Institute and the CREW Network. Topics included the associations’ recent initiatives, upcoming events and their members’ concerns.

 Randi Glass (top right photo), director of membership and volunteer development for ICSC, said the council has received a lot of positive feedback from its special industry groups. ICSC launched the groups, which allow members with similar specialties to share best practices, about a year ago.

 ICSC also has fully embraced social media, Glass added. “We encourage our members to tweet their deals and space requirements, and our social media manager retweets those to all our followers,” she said, adding that ICSC has 12,000 followers on Twitter. ICSC will have a booth at its upcoming RECon show in Las Vegas in May that will provide brief tutorials on social media.   

As 2012 unfolds, BOMA International will spend much of its time advocating against what its chair-elect described as excessive regulation from federal, state and local governments seeking to create “green” communities.

“While we agree with the concept, the overregulation, the mandates from governmental agencies are the things we’re trying to mitigate a little bit,” said Joseph W. Markling (middle left photo), chair-elect of the organization.

 Gail S. Ayers (middle right photo), CEO and president of the CREW Network, said her organization’s annual conference, to be held in Chicago in October, will focus on making choices in a tough economy. “When you’re looking at an uncertain economy, you have to focus constantly on what you do, how you do it and whom you do it with,” she said.

 CREW is dedicated to advancing the achievements of women in commercial real estate. 

 Vast networking, abundant educational opportunities and even increased income are among the benefits of belonging to the CCIM Institute, said Leil Koch (lower left photo), president of the organization, which awards the CCIM designation to members who takes a series of classes and pass a comprehensive exam. “CCIMs earn, on average, 79 percent higher incomes than non-affiliated professionals,” he said.

 The Institute has emphasized more case studies in its course work and also has launched monthly property marketing webinars to allow members to showcase their sites to a national audience.

The next “Commercial Real Estate Show” will be available March 22 and will examine best practices for the social media network LinkedIn.


Stephen Ursery
Wilbert News Strategies

Sears Holdings Names David Lukes to Real Estate Leadership Position

HOFFMAN ESTATES, IL. March 20, 2012 /PRNewswire/ -- Sears Holdings (NASDAQ: SHLD) announced today that David Lukes (top right photo) has joined the company in its real estate business unit as president, real estate development.

 Mr. Lukes comes to Sears Holdings from Mall Properties, Inc. where he served as president and CEO of the privately owned $3 billion real estate firm. 

In this new role, Mr. Lukes will lead the company's effort to  further develop certain of its real estate assets, including those real estate assets that are no longer in use as retail stores.  Jeff Stollenwerck, president of the company's real estate business unit, will continue in that role and oversee the traditional corporate real estate functions for Sears Holdings.

"We have a very strong real estate team at Sears Holdings and that team will only be stronger with the addition of an executive of David's caliber," said Lou D'Ambrosio (lower right photo) Sears Holdings' chief executive officer and president.

 "Historically, Sears has selectively realized value from its real estate holdings through store acquisitions, strategic store sales, and our leasing and licensed business programs.  David's hiring allows us to expand our capabilities to include the enhancement and re-development of appropriate properties."

Sears Holdings Public Relations
(847) 286-8371

HFF arranges $26.7 million in joint venture equity for residential and golf development in Nashville, TN

DALLAS, TX – HFF announced today that it has arranged $26.7 million in joint venture equity for the development of The Grove (top left photo), formerly named Laurel Cove, an 1,184-acre residential development and golf community in College Grove, Tennessee.

HFF worked on behalf of Terra Verde Group to secure the joint venture equity through an institutional private equity partner.

The development can accommodate up to 800 homes and will include a clubhouse with full-service spa, casual and gourmet dining, swim and athletic center, tennis complex and an 18-hole Greg Norman signature golf course. 

 The golf course is expected to open in September 2012.  The Grove is located south of Nashville at the intersection of Interstate 849 and Arno Road in College Grove.

The HFF team representing Terra Verde Group was led by senior managing director Trey Morsbach (lower right photo).

 Learn more at http://www.tvgllc.com/.


 TREY MORSBACH                                         
HFF Senior Managing Director                         
(214) 265-0880                                                

HFF Associate Director, Marketing
(713) 852-3500

HFF secures $11 million acquisition financing for R&D facility in Edison, NJ

 NEW YORK, NY – HFF announced today that it has secured $11 million in acquisition financing for 2121 State Route 27 (top left photo), a 99,260-square-foot, research and development facility in Edison, New Jersey.

HFF arranged the financing on behalf of AG Net Lease Fund II, an affiliate of Angelo, Gordon & Company.  Morgan Stanley Mortgage Capital Holdings LLC provided the 10-year, fixed-rate securitized loan, which will also be serviced by HFF.
2121 State Route 27 is 100 percent occupied by Revlon Consumer Products Corporation, which utilizes the facility as its worldwide research and development center for all of its brands.  Revlon has had a presence at the site since the 1950’s. 

The property is part of the larger Edison Towne Corporate Centre, a 247,245-square-foot complex located within close proximity to Interstate 287, the New Jersey Turnpike and Garden State Parkway.

The HFF team representing the borrower was led by managing director Evan Pariser (middle right photo) and director Michael Klein (lower left photo).

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.


EVAN PARISER                       
HFF Managing Director                      
(212) 245-2425                                   

MICHAEL KLEIN                      
HFF Director                                    
(973) 549-2000                                   

HFF Associate Director, Marketing
(713) 852-3500

HFF closes $63 million sale of Class A multi-housing complex in central New Jersey

 FLORHAM PARK, NJ – HFF announced today that it has closed the sale of Windsor at Crystal Ridge (top left photo), a 334-unit, Class A multi-housing complex in Watchung and North Plainfield, New Jersey.

HFF represented the seller, GID Investment Advisors, LLC and procured the buyer, AvalonBay Communities, Inc.  AvalonBay purchased the property for $63 million free and clear of existing debt.

Windsor at Crystal Ridge is located on nearly 25 acres at 1 Crystal Ridge Drive directly off Route 22 in Watchung and North Plainfield. 

The property has 15 three-story buildings with one-, two- and three-bedroom units averaging 1,016 square feet each. 

Community amenities include a clubhouse, fitness center, indoor basketball court, residents lounge, media center, business center, swimming and wading pools, two playgrounds and outdoor basketball and tennis courts.  Windsor at Crystal Ridge is 98 percent leased.

The HFF investment sales team representing the seller was led by senior managing directors Jose Cruz (middle right photo) and Andrew Scandalios (middle left photo), managing director Kevin O’Hearn (lower right photo), director Jeffrey Julien (lower left photo) and associate director Steve Simonelli (bottom right photo)

“This was a rare opportunity to purchase a newer Class A multi-housing complex in affluent Somerset County, which has a scarcity of Class A product and no construction pipeline for any competing properties to be built in the near future,” said Cruz.

 “GID took advantage of a fluid multifamily market in central New Jersey, and Avalon obtained a good complex with rental upside,” added Scandalios.

GID is a privately held, globally diversified, and fully integrated real estate organization founded in 1960 that employs over 650 real estate professionals in multiple offices throughout the United States.

During its 51 year history the company has acquired or developed over 54,000 residential units and in excess of 13 million square feet of commercial space.

 As of December 31, 2011, GID controls a real estate portfolio consisting of 107 properties located in 19 states, and totaling more than 35 million square feet comprised of over 22,000 residential units and more than 5.7 million square feet of commercial space.  In addition, GID has more than 12 million square feet of fully entitled properties in its development pipeline.

AvalonBay Communities, Inc. is in the business of developing, redeveloping, acquiring and managing high-quality apartment communities in the high barrier-to-entry markets of the United States.

These markets are located in the Northeast, Mid-Atlantic, Midwest, Pacific Northwest and Northern and Southern California regions of the country. 


JOSE R. CRUZ                                  
HFF Senior Managing Director         
(973) 549-2000                                   

HFF Senior Managing Director         
(212) 245-2425                                   

HFF Associate Director, Marketing
(713) 852-3500