Monday, November 19, 2012

NAI Realvest negotiates new leases for warehouse space totaling 6,450 SF in West Orange County, FL

Michael Heidrich
MAITLAND, FL. – NAI Realvest recently negotiated two lease agreements for warehouse space totaling 6,450 square feet in West Orange County at Carter CommerCenter in Winter Garden and at the Countyline Industrial Park in Oakland.

 Michael Heidrich, a principal at NAI Realvest negotiated both transactions representing the landlords.

 At Carter CommerCenter, 890 Carter Rd., Jacksonville-based Fastenal Company leased units 150 and 160 with 3,750 square feet.  Maitland-based COP-Carter LLC is the landlord. 

CarterCommer Center, Orlando, FL
At Countyline Industrial Park, 940 W. Oakland Ave. off W. Colonial Drive, Universal Network Unlimited, Inc. based in Windermere leased Suite A-7 with 2,700 square feet.  Countyline Suites, LLC is the landlord.

For more information, contact:

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

HFF closes $18.5 million sale of trophy high-rise development site in Miami, FL

1300 South Miami Ave., Miami, FL
MIAMI, FL – HFF announced it has closed the sale of 1300 South Miami Avenue, a 1.29-acre mixed-use development site in Miami, Florida.

                HFF marketed the property on behalf of the seller, South Miami Ave, LLC.  Related Group purchased the development site for $18.5 million.

                The site is approved for the development of a 556-unit residential tower plus 15,049 square feet of retail space and 38,357 square feet of office space.  

Located at the intersection of Coral Way (SW 13th Street) and South Miami Avenue, the site is close to the Mary Brickell Village and Brickell Citi Centre projects as well as Interstate 95 in the Brickell financial district.

Manny de Zarraga
The HFF team of executive managing director Manny de Zárraga and director Jaret Turkell   represented   South Miami Ave, LLC, an investment group led by Miami-based Alex Vadia.

Since its inception in 1979, The Related Group, a privately-held company, has built and managed more than 80,000 condominium and apartment residences in major markets throughout Florida.

HFF’s Florida multi-housing and land group has closed more than $825 million of multi-housing transactions in the past 12 months.

Jaret Turkell
 HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF).  HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

 HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, equity placement, loan sales, and commercial loan servicing. 


Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | 

HFF closes $6.2 million sale of grocery-anchored retail center in Tampa, FL area

Keene Plaza, Largo, FL
 MIAMI, FL – HFF announced it has closed the sale of Keene Plaza, a 78,982-square-foot, grocery-anchored retail center in Largo, Florida.

                HFF marketed the property on behalf of the seller, Anchor Keene Plaza Ltd., an entity affiliated with Lakeland, Florida-based Century Retail, LLC (“Century”).  Paradise Ventures, Inc. purchased the asset for $6.2 million.

                Keene Plaza is located at 2100-2200 East Bay Drive at the intersection of Keene Road in Largo, just south of Clearwater in the Tampa metropolitan area.  The property was renovated in 1999 and is 88.4 percent leased to tenants including Save-A-Lot, Bealls Outlet and Dollar General.

Daniel Finkle
 The HFF team representing the seller was led by senior managing director Danny Finkle and director Luis Castillo.

Century develops, leases and manages a variety of retail projects from small strips to large neighborhood centers with national tenants such as Publix, Marshalls, Save-A-Lot, Starbucks and Bealls among many more.  Century was organized in 2004 for the purpose of developing and leasing retail projects in Florida, Georgia, Alabama and the Carolinas.

Luis Castillo
Paradise Ventures specializes in all areas of retail real estate, from in-house development to third-party management.  They are one of the leading developers of Publix-anchored centers and Walgreens stores nationwide.  Since the beginning of this year, Paradise Ventures has developed two grocery-anchored shopping centers and six Walgreens stores in Florida.


Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |

HFF arranges $9 million financing for student housing community near University of Texas in Austin, TX

Century Square Apartments, Austin, TX
SAN DIEGO, CA – HFF announced it has arranged $9 million in financing for Century Square Apartments, a 138-unit, student housing community near The University of Texas in Austin, Texas.

                HFF worked on behalf of a joint venture between Cardinal Group Investments LLC and Fundamental Advisors LP to secure the 10-year fixed-rate FNMA loan.  Loan proceeds were used to acquire the property.

Pat Burger
 Century Square Apartments is located at 3401 Red River Road within walking distance of the campus of The University of Texas and north of downtown Austin.  The sponsor’s renovation plan will include both exterior and interior improvements as part of its rebranding of the property under its urban multifamily platform, Mint Urban™. 

Tim Wright
 The HFF team representing the borrower was led by Pat Burger, Tim Wright, Doug Opalka and Husayn Hasan.

Cardinal Group is a fully-integrated real estate investment, development and management firm specializing in opportunistic and value-added investments throughout the United States. 

The firm acts as a sponsor of private equity real estate partnerships and provides asset management services through its investment company Cardinal Group Investments, LLC ("CGI"). 

Douglas Opalka
CGI's affiliate management company, Cardinal Group Management, LLC ("CGM"), provides property and construction management services to all of CGI's owned assets as well as to outside owners on a third-party basis.

            Fundamental Advisors was formed in July 2007 to invest in special situations related to the municipal revenue bond market, seeking to revitalize distressed assets in such sectors as senior care, affordable housing, student housing, infrastructure and hospitality. 

 Co-founders Laurence Gottlieb, who previously co-headed Citigroup's Municipal Distressed & Special Situations proprietary trading desk, and Dana Fusaris, who led Madison Capital Management's distressed and defaulted municipal bond effort, have worked together as industry colleagues or partners for over a decade.


Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |

HFF hires Whitaker Leonhardt as real estate analyst in its Orlando, FL office

Whitaker Leonhardt
ORLANDO, FL – HFF announced today that Whitaker Leonhardt has joined the firm as a real estate analyst in its Orlando office.

Mr. Leonhardt has more than four years of experience in the retail real estate industry and will focus on financial and market analyst for investment sale and debt placement transactions across all property types in the southeastern United States.

 Mr. Leonhardt is a member of the International Council of Shopping Centers and is the co-chair for the organization’s Orlando Next Generation Committee. 

Brad Peterson
He is also a member of the Central Florida Commercial Association of Realtors and is a vice chair for the University of Florida Bergstrom Center for Real Estate Studies.  Mr. Leonhardt holds a Master of Science in Real Estate from the University of Florida and a Bachelor of Arts from Georgetown University.

“Whitaker is one of the rising stars in our industry, which is evidenced by his numerous leadership positions and his active role in the Florida real estate community.  He will be a significant addition to HFF’s growing Orlando office,” commented Brad Peterson, senior managing director in HFF’s Orlando office.


Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |

HFF arranges acquisition financing for suburban Denver mixed-use property

Southlands Town Center, Aurora, CO
DENVER, CO – HFF announced it has arranged acquisition financing for Southlands Town Center, a 900,000-square-foot, mixed-use property in Aurora, Colorado.

Working exclusively on behalf of Northwood Investors, HFF placed the five-year loan with CIBC World Markets.

Located in Aurora, one of Denver’s fastest growing and most affluent suburbs, Southlands Town Center is an outdoor lifestyle center comprised of 730,000 square feet of retail space and 170,000 square feet of office space.

Travis Anderson
 Its four-block main street and community plaza are surrounded by retailers and restaurants including AMC Theaters, Bed Bath & Beyond, Sports Authority, Ross, Barnes & Noble, Ulta, Victoria’s Secret, White House Black Market, Charming Charlie, American Eagle Outfitters, Gymboree, Old Chicago, Ted’s Montana Grill and many others.

 Originally designed by Callison Architects, the center opened its first store in 2005.  Today Southlands Town Center has more than 100 retailers and restaurants.

Eric Tupler
The HFF team representing Northwood Investors was led by managing director Travis Anderson and senior managing director Eric Tupler.

Northwood Investors is a leading privately-held global real estate investment firm with over $2 billion of real estate assets.  Founded in 2006 by John Z. Kukral, Northwood employs a fundamental, value-driven investment strategy with a longer-term outlook.

 Northwood has extensive experience investing in a wide range of real estate assets worldwide, including office buildings, shopping centers, hotels and residential investments, over multiple cycles and property types and geographies, providing the firm with a deep knowledge base, strong relationships, and tremendous access to global real estate resources.


Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |

HFF closes sale of Montague @ 880 in San Jose, CA

Montague @ 880 office/R&D campus, San Jose, CA
SAN FRANCISCO, CA – HFF announced it has closed the sale of Montague @ 880, a three-building, 201,178-square-foot office/R&D campus in San Jose, California.

HFF marketed the property on behalf of Equity Office Properties.  An entity owned by funds managed by Westport Capital Partners LLC purchased the property for an undisclosed amount free and clear of existing debt.

Michael Leggett
The campus is situated on 11.46 acres and fronts the intersection of Interstate 880 and Montague Expressway in San Jose.  The individual buildings are located at 1060 Rincon Circle, 1010-1020 Rincon Circle and 2216-2220 O’Toole Avenue. 

The HFF investment sales team representing the seller was led by senior managing directors Michael Leggett and Gerry Rohm, managing director Steven Golubchik, director Dave Karol and real estate analyst Mark Damiani.

Gerry Rohm
“This property provides investors with a unique, value-add opportunity to lease-up space and dramatically increase revenue by taking advantage of a strong and rising Silicon Valley market,” commented Golubchik. 

Steve Golubchik
 “Each of the buildings range between 51,000 square feet and 88,000 square feet and may be leased individually or together, providing a multitude of leasing strategies to investors.” 

Equity Office Properties is one of the largest and most well-respected commercial real estate firms in the nation, with a portfolio encompassing 70 million square feet of Class A office space under management in superior locations throughout the country. For more information, visit

Dave Karol
Westport Capital Partners LLC is an investment firm specializing in the opportunistic acquisition and management of real estate and real estate-related securities.  

Westport provides domestic and international investment opportunities to institutional and private clients.  Through its various funds, the firm invests in a wide variety of opportunistic property and distressed debt situations.  The firm has offices in El Segundo, California and Wilton, Connecticut.


Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |

HFF closes sale of 777 Post Oak Boulevard in Houston, TX

777 Post Oak Boulevard, Houston, TX
HOUSTON, TX – HFF announced it has closed the sale of 777 Post Oak Boulevard, a 176,799-square-foot office building in Houston’s Galleria/West Loop submarket.

                HFF marketed the property on behalf of the seller, an institutional owner.  An international investing real estate fund managed by Credit Suisse AG in Switzerland purchased 777 Post Oak Boulevard for an undisclosed amount.  

Credit Suisse was advised by Lacy Ltd., an international real estate investment and advisory firm based in Washington D.C.  HFF also arranged acquisition financing for the buyer.

Robert Williamson
777 Post Oak Boulevard is located on 2.28 acres adjacent to Uptown Park and the 610 West Loop in Houston’s Galleria area.  The nine-story property was renovated in 1998 and is 100 percent leased.

                The HFF investment sales team representing the seller was led by senior managing directors Robert Williamson and Rusty Tamlyn

HFF’s debt placement team representing the real estate fund managed by Credit Suisse was led by associate director Corby Chaffin.

Rusty Tamlyn
 “This is the first purchase for an international investing real estate fund managed by Credit Suisse in the Houston market and represents the growing international buyer pool in the city of Houston.  The real estate fund managed by Credit Suisse is a Swiss-based, institutional investor that owns office assets in Boston, Chicago and Washington D.C.” said Tamlyn.


Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |

First DoubleTree by Hilton Hotel in Thailand Opens in Phuket

DoubleTree Resort by Hilton – Surin Beach
 PHUKET, Thailand – Nov. 19, 2012 – Hilton Worldwide today announced the opening of its first DoubleTree by Hilton property in Phuket, Thailand. The 250-room DoubleTree Resort by Hilton – Surin Beach is located on the west coast of the island on Surin Beach, which is approximately 24 kilometers from Phuket International Airport.

 “Hilton Worldwide has been in Thailand since 1983 and we currently operate six hotels in key destinations including Bangkok, Pattaya, Koh Samui, Hua Hin and Phuket,” said Martin Rinck, president, Asia Pacific, Hilton Worldwide.

Martin Rinck
“Thailand is a key focus market for us due to its enormous potential for growth and as we continue to expand our footprint here, the DoubleTree Resort by Hilton – Surin Beach marks the entry of one of our fastest growing brands, DoubleTree by Hilton, into Thailand,”

 Formerly the Courtyard by Marriott, the rebranded, four-story DoubleTree Resort by Hilton, Phuket – Surin Beach sits strategically between Phuket International Airport and Patong, the island’s popular tourist center.

 The resort offers over 80 suites and has three food and beverage outlets which include Asia Alive, an all-day dining restaurant, The Boardwalk, a pool bar serving snacks, and a food and beverage retail outlet, The Food Store. There will also be four meetings rooms as well as a business center, fitness club, outdoor lagoon-style pools, water slides and a kids club.

Rob Palleschi
 Rob Palleschi, global head, DoubleTree by Hilton, said, “DoubleTree by Hilton is very pleased to welcome our first property in Thailand to our exciting portfolio of more than 310 properties globally. 

"With the opening of the DoubleTree Resort by Hilton Phuket – Surin Beach, both domestic and international guests coming to this popular resort destination will be introduced to the quality accommodation and personalized, welcoming level of service and hospitality that is synonymous with the brand.”

Phuket Surin Beach, Thailand
The DoubleTree Resort by Hilton Phuket – Surin Beach will have all the qualities currently found at the brand’s more than 310 DoubleTree by Hilton locations in 23 countries around the world, including the warm welcome of the brand’s legendary chocolate chip cookie presented to every guest at check-in; an array of upscale amenities and guest services; the rewards of the Hilton HHonors guest loyalty program; and a unique and caring team commitment to giving back to the local community.

 Phuket is one of Asia’s leading leisure destinations and is famous for its white sandy beaches, pristine waters, inland mountains and renowned Thai hospitality. 

Patong Beach, Thailand
The island has been a well established destination for over 30 years and continues to grow at a strong rate. Surin is situated on the west coast of Phuket and is one of the most sought-after destinations in Phuket due to its fine white sandy beaches and turquoise water. 

Surin Beach is popular with both tourists and Thais for its large selection of beach restaurants ranging from the popular Catch Beach Club to local beachside restaurants.

 Hilton Worldwide currently manages six properties in Thailand including Conrad Bangkok, Millennium Hilton Bangkok, Hilton Pattaya, Hilton Phuket Arcadia Resort and Spa, Hilton Hua Hin Resort and Spa and Conrad Koh Samui, and will open Hilton Sukhumvit Bangkok and DoubleTree by Hilton, Sukhumvit Bangkok in 2013.

For more information on DoubleTree by Hilton, please contact your local travel professional or visit the brand’s website at  


Audrey Wong
Hilton Worldwide
+65 6833 9763

 Maggie Giddens
DoubleTree by Hilton
+1 703 883 5346

Greystone Provides $14.3 Million in Financing for Two Cooperative properties in New York City

Billy Posey
 New York, NY – Nov. 19, 2012 – Greystone, a leading national provider of multifamily and commercial mortgage loans, today announced that is has originated $14.3 million in financing for two cooperative properties, located in New York City.

 The Greystone team, led by Robert Meehan and Jonathan Morales, worked with FirstService Financial to secure the loans, both Fannie Mae Delegated Underwriting and Servicing (DUS®) transactions.

 The deals follow the recent loan closing for Capitol Apartments in New York City, and bring the total amount of loans in the last quarter originated by the group in conjunction with FirstService to over $59 million.

Robert Meehan
“Having worked with Greystone on the $45 million loan for Capitol Apartments, we were confident in the team’s relationship with Fannie Mae and knowledge of the highly competitive New York real estate market,” said Deborah Haller, Vice President at FirstService Financial. “Through Greystone, we were able to access the best possible financing in an efficient and well-executed manner, and we look forward to continuing our relationship in the future.”

Deborah Haller
The first property, located at 399 East 72nd Street, received a $7.7 million, 10-year fixed rate loan at an interest rate of 3.12%. The building consists of 163 apartment units and two ground floor commercial spaces. The second, a 59-unit cooperative at 41 Eastern Parkway in Brooklyn, was provided a $6.6 million, 10-year interest only fixed rate loan with a 3.39% interest rate.

 “Working closely with FirstService Financial, we were able to address each of the property’s financing needs and successfully coordinate the two Fannie Mae DUS loans,” said Billy Posey, Executive Vice President of Greystone Servicing Corporation. “We continue to see a lot of growth and opportunity within New York City’s real estate market and look to complete similar deals as we close out the year and head into 2013.”

Press contacts::

Loretta Mock/Jessica Kleinman
+1 646 395 6300

Cassidy Turley Promotes Clay Sovich to Vice President in Tampa Office

Clay Sovich
 TAMPA, FL. – [Nov. 19, 2012] Cassidy Turley, a leading commercial real estate services provider in the U.S., today announced that it has promoted Clay Sovich to Vice President of the Tampa office.

 Sovich joined Cassidy Turley in 1991 and served as an associate vice president. He specializes in investment sales and both landlord and tenant representation in office and industrial space. His responsibilities have included leasing office and light industrial research space at the University of South Florida’s research park and several other light industrial parks in the area.

Clark Gore
“Clay has proved himself to be a valuable and dedicated member of the Tampa team,” said Clark Gore, Regional Managing Principal, Cassidy Turley. “His knowledge of the Tampa area is of paramount importance to the leasing team.”

 Before joining Cassidy Turley, Sovich was the manager of accounting at Grubb & Ellis in Pittsburgh, where he began his real estate career overseeing financial reporting. In the early 1990s, he refocused on real estate sales and leasing.

Public Relations Contact

 Tony Wilbert
Wilbert News Strategies

Avison Young continues aggressive U.S. expansion, opens new office in Irvine, CA

Mark E. Rose
 TORONTO, Nov. 19, 2012 /PRNewswire/ - Mark E. Rose, Chair and CEO of Avison Young, Canada's largest independently-owned commercial real estate services company, announced today the opening of a newly-formed office in
Irvine, California.

Alan Pekarcik
 The newest American office marks Avison Young's 20th market outside of Canada and an additional step in the firm's ongoing aggressive growth and expansion strategy.

Over the past three and a half years, Avison Young has grown from 11 to 42 offices in 34 markets and from 300 to more than 1,100 real
estate professionals across Canada and the U.S.

Daniel Vittone
Effective immediately, Alan Pekarcik and Daniel Vittone join as Principals and will focus on further expanding Avison Young's brand in the Orange County market. Also joining Avison Young is John Pianta as Senior Financial Analyst.

John Pianta
All three members were most recently with Newport Beach, CA-based Voit Real Estate Services,working out of the company's Irvine, CA office. The full-service real estate firm operates as a real estate owner, operator, broker, property
manager, contractor and developer.

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

Media Relations:
Sherry Quan
(604) 647-5098 or
 (604) 726-0959 cell

Arbor Appoints Zachary Rechler as Director in New York Office

Zachary Rechler
UNIONDALE, NY (Nov. 19, 2012) - Arbor Commercial Mortgage, LLC (“Arbor”) today announced the appointment of Zachary Rechler as Director in the company’s New York City office.

Mr. Rechler is responsible for originating loans under all of Arbor’s multifamily and commercial product lines, including Fannie Mae, FHA, Bridge and Mezzanine loans. Mr. Rechler reports to Ken Fazio, Senior Vice President, National Production Manager.

 Prior to joining Arbor, Mr. Rechler served as Vice President at NorthMarq Capital, where he was responsible for debt and equity placement for insurance companies and pension fund investors. 

Ken Fazio
He also provided oversight of a regional servicing portfolio, including the review and processing of regular servicing requests and annual lender collateral reviews. Previous to that role, Mr. Rechler served as Investment Analyst and an Associate Producer at NorthMarq Capital.

 Mr. Rechler received a Bachelor of Science degree in Management and a Bachelor of Arts degree in Psychology from Tulane University. He is currently enrolled at New York University as a candidate for a Master’s Degree in Real Estate Finance. He resides in New York City.


Chris Ostrowski
Arbor Realty Trust, Inc.
 Tel: (516) 506-4255
333 Earle Ovington Blvd., Suite 900