Monday, September 10, 2012

NAI Realvest Negotiates Industrial Leases totaling over 20,400 SF in Orlando, FL

ORLANDO FL. – NAI Realvest recently negotiated two lease agreements totaling 20,406 square feet at industrial centers on Hanging Moss and Silver Star Roads in Orlando.
Michael Heidrich, principal at the firm, negotiated a new lease representing the landlord

LC Realty Associates LLC for 16,406 square feet at 4116 Silver Star Rd.   Habitat for Humanity of Greater Orlando is the new tenant and was represented by Nick Poole of CNL Commercial Real Estate. 

Tenant Florida Home Medical Equipment renewed its lease of 4,000 square feet in Suite 540-550 at Hanging Moss CommerCenter, 6100 Hanging Moss Rd.   Heidrich brokered the transaction representing the landlord COP-Hanging Moss LLC of Maitland.

For more information, please contact:

Michael Heidrich, Principal NAI Realvest 407-875-9989
Patrick Mahoney, President, NAI Realvest, 407-875-9989;
Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142

Colliers International Completes $5 Million Sale of Office Building in Irvine, CA to be Redeveloped into a Multifamily Project


 IRVINE, CA. (Sept. 10, 2012) Colliers International, the third largest global real estate services organization, has completed the $5 million sale a 24,000-square-foot office property located at 2501 Alton Parkway in Irvine, Calif.

Steve Schloemer, senior vice president of Colliers International, represented the seller, SKB Enterprises from Irvine, Calif. The buyer was EQR Residential, an apartment developer from Chicago, who was represented by Larry Schuler from CBRE.

Built in 1980 and situated on 1.9 acres, the buyer plans to demolish the property and develop an apartment project.  EQR previously purchased an adjacent site and is processing entitlements for multifamily development. 2501 Alton is expected to be the second phase of the development.  


Darcie Giacchetto
Spaulding Thompson & Associates

Colliers International Completes $7.8 Million Sale of Industrial Buildings in Irvine, CA

IRVINE, CA -- Colliers International, the third largest global real estate services organization, has completed the $7.8 million sale of two industrial buildings totaling 75,524 square feet located at 17152 and 17192 Daimler (top left photo) in Irvine, Calif.

Steve Schloemer (lower right photo), senior vice president of Colliers International, represented the seller, Qvale Family Trust from Dana Point, Calif. The buyer was FMH Investors, a manufacturing company from Irvine, who was represented by Mike Hartel of Voit.

Built in 1975 and situated on four acres, the property is 100 percent occupied and includes tenants Crenshaw Die and Manufacturing and Advanced Joining Technologies with leases expiring in 2014. The buildings are adjacent to each other and include fenced yards and dock-high loading. 

“The Orange County industrial market continues to improve with eight consecutive quarters of positive net absorption, particularly in the more desirable areas such as Irvine,” said Schloemer.


Darcie Giacchetto
Spaulding Thompson & Associates

EagleBridge Capital Arranges $10,800,000 Mortgage Financing for Dorset Crossing in Simsbury, CT

Boston, MA -- EagleBridge Capital has arranged mortgage financing in the amount of $10,800,000 for Phase I of Dorset Crossing (top left photo) located in Simsbury, Connecticut working exclusively on behalf of the Keystone Companies.

The mortgage financing was arranged by EagleBridge principals Ted M. Sidel (middle right photo) and Brian D. Sheehan (middle left photo) who stated that the loan was provided by a regional financial institution.

Dorset Crossing is an innovative, master - planned mixed use development, strategically located  in Simsbury Connecticut.  Phase I includes two 15,000 square foot medical office buildings which are currently under construction. 

Other buildings in this phase shall include an additional 20,000 square foot medical office building, a 14,000 square foot retail building and a 3500 square foot retail building.  Up to 275 apartment units and 3 additional sites for general commercial use are planned for Phase II.

Saint Francis Hospital and Medical Center (lower right photo) of Hartford has leased 10,000 square feet of space in the first building which shall include physician offices, urgent care services, and a community room.  This will be Saint Francis Care’s seventh access center complex joining facilities in Avon, Bloomfield, East Hartford, Ellington, Enfield, and Glastonbury. 

Saint Francis is 617 bed major teaching hospital and the largest Catholic hospital in New England.

Dorset Crossing is located on Route 10 (Hopmeadow Street) with great visibility and a signaled entrance with dedicated turning lanes on Route 10 offering easy access. 

Located nearby on Route 10 are Stop & Shop, TJ Maxx, and The International Skating Center of Connecticut.  The location offers easy access to Route I-91.  Hartford and Bradley International Airport are within a 20 minute drive.

Mr. Sidel and Mr. Sheehan stated, “We are pleased to have played a part in this outstanding project.  Our lender recognized the quality of the project and the top notch job that Keystone Companies has done in bringing Dorset Crossing to fruition.”


Ted Sidel
 (617) 292-7177   EXT. 10

Industry Veteran Allen Kramme Joins Richfield HospitalityAs Senior Vice President Operations

 DENVER, Colo. - - September 10, 2012—Richfield Hospitality, a leading hotel management company, today announced that Allen Kramme (top right photo) has been named senior vice president of operations, responsible for directing the day-to-day operations and financial performance of the company’s 29-hotel portfolio.

“Allen joins our company during an exciting growth period,  as we launch our first international effort in China and aquire as well as secure additional assets and management contracts domestically,” said Greg Mount (lower left photo), Richfield Hospitality president.

“Allen has demonstrated leadership excellence in various hotel-operations capacities including serving as an owners representative, providing regional leadership and managing a multitude of renowned properties. With his 30-years of experience with leading brands and management companies, he will help facilitate our aggressive growth in the coming years.” 

Prior to joining Richfield, Kramme served as a hotel industry consultant and project manager, most recently providing asset management services for St. Regis Deer Valley in Park City, Utah, a Richfield asset-managed hotel.

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

Jerry Daly or Chris Daly
 Daly Gray Public Relations
(703) 435-6293

HFF arranges $80 million financing for Reservoir Woods West in Waltham, MA

BOSTON, MA – HFF announced today that it has arranged an $80 million financing for three Class A, inter-connected suburban office buildings totaling 458,166 square feet within the Reservoir Woods West Campus  (top left photo) in Waltham, Massachusetts.

HFF worked exclusively on behalf of the borrower, an affiliate of Davis Marcus Partners, to secure the seven-year, fixed-rate loan through MetLife Real Estate Investments. 

The properties are located at 920, 930 and 940 Winter Street, directly off of Route 128/Interstate 95 in Waltham.  Renovated in 2006, the buildings are 100 percent leased to six tenants, including Fresenius Medical Care and PerkinElmer.  In its entirety,

Reservoir Woods consists of an east and west campus that contains more than 1.2 million square feet of office space situated in a 120-acre, park-like setting with amenities including HealthPoint Wellness Center and shuttle service to the MBTA Red Line at Alewife Station in Cambridge.

The HFF team representing the borrower was led by senior managing director Riaz Cassum (lower right photo), director Lauren O’Neil (lower left photo)and senior real estate analyst Robyn King.

Davis Marcus Partners is a venture between Marcus Partners and The Davis Companies.  Its affiliates own and operate a portfolio of real estate in excess of four million square feet and valued at more than $1 billion.


HFF Associate Director, Marketing  
(713) 852-3500   

Institutional Property Advisors Sells The Palomino Multifamily Asset in San Antonio, TX

SAN ANTONIO, TX –Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has arranged the sale of the Palomino (top left photo), a 484-unit multifamily complex in San Antonio. Although terms of the sale were not disclosed, this is the largest Class A multifamily asset to trade in San Antonio in 2012.

            Will Balthrope, an IPA executive director; Scott Lamontagne, an IPA director, and Drew Kile; an IPA associate director, represented the seller, Koontz McCombs Development. Balthrope and Lamontagne also secured the buyer, an investment group represented by Francis Property Management Inc. of Beverly Hills, Calif.

            “This is the largest single-asset multifamily sale in terms of units so far in San Antonio this year,” says Balthrope. “This transaction demonstrates the strength of the San Antonio multifamily investment market.”

“Institutional investors and major owners are targeting well-located, Class A multifamily assets in San Antonio as the region’s job market continues to improve,” adds Balthrope. “We are seeing cap rates for newly constructed, luxury apartment product compress, a trend that should continue through year’s end, even as new development ramps up throughout the region.”

Located at 14111 Vance Jackson Rd., the 324,124-square foot complex is located in one of the strongest growth markets in Northwest San Antonio. In the immediate vicinity, the largest employers in the region include the University of Texas at San Antonio, the South Texas Medical Center, USAA and Valero. USAA and Valero have their world headquarters in Northwest San Antonio.
At the time of the sale, the Palomino was 95-percent occupied.

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

Stacey Corso
Public Relations Manager
(925) 953-1716