Saturday, March 9, 2013

Cuhaci & Peterson Architects Completes Design of LA Fitness facility in Orlando, FL

ORLANDO, FL — Cuhaci & Peterson Architects Engineers Planners, based in Orlando’s Baldwin Park, recently completed design work on a new LA Fitness facility on Lee Vista Blvd. in southeast Orlando.

Lonnie Peterson, chairman at Cuhaci & Peterson Architects, said the 38,000 square foot facility is now under construction.


Lonnie Peterson, Chairman Cuhaci & Peterson Architects, LLC, 407-661-9100;  
Jed Downs, President Cuhaci & Peterson Architects, LLC, 407-661-9100;  
Larry Vershel, Larry Vershel Communications Inc. 407 644 4142

NAI Realvest completes sale of 7,000-SF office duplex in Winter Garden, FL for $539,000

ORLANDO, FL — NAI Realvest recently negotiated the sale of a 7,000 square foot office duplex at 526 and 530 S. Main Street in Winter Garden for $539,000.

 NAI Realvest Principal Michael Heidrich brokered the transaction representing the sellers, Russell and Jane Gay of Oakland, Fla. and the buyer, Elipsis Engineeing & Consulting LLC of Winter Garden. 


Michael J. Heidrich Principal NAI Realvest 407-875-9989
Patrick Mahoney, President, NAI Realvest 407-875-9989
Robin L. Webb, CCIM, CHA, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest, 407-875-9989  
Larry Vershel, Larry Vershel Communications Inc. 407 644 4142

Better Days Ahead, Predicts NAI Realvest’s George Livingston

George Livingston
 Maitland, FL --- Longtime Central Florida investment advisor George Livingston, chairman of NAI Realvest in Maitland, has a message for economic doomsayers: relax.

Things really are getting better.

“The economy is expanding and it’s likely to continue to expand during 2013 and for the next several years,” Livingston said.

Interest rates will remain low---and wise borrowers will lock in debt---but lenders will be stingier with their capital, requiring developers to put up more equity on capital improvement loans. The government will continue to stimulate the economy with monetary and fiscal policies.

The biggest roadblock to economic growth, Livingston said, will be the uncertainty generated by regulation and social engineering. Inflation is likely to increase.

Employment will improve, but unemployment will remain above comparable norms. Consumption and investments will increase, as will the number of mergers and acquisitions.

The housing market will continue to expand, government spending will remain high, and taxes are likely to increase, Livingston said.

Foreign trade will increase as well, and U.S. firms will return offshore operations to America. Moreover, foreign firms will increase their U.S. operations.

Warehouses offer investment opportunity
“America is moving toward energy self-sufficiency, and as a result exports will have a very positive net economic effect,” Livingston said.

For investors, warehousing and manufacturing are key sectors for economic growth.

On the world front, turmoil will persist in the Middle East and Europe will continue to have economic problems, but Mexico and Canada will see strong economic improvement.

“America will do its best not become entangled in foreign conflicts,” Livingston said. And U.S. military strength will decline as a proportion of global military spending.

The next big battlefront, Livingston said, is cyberware. 

“Cyberware is a clear emerging national security and economic threat,” Livingston said.

Overall, Livingston said, we should prepare for better days. Our improving economic picture will drive the stock market higher, which in turn will boost equity markets.


George Livingston, Chairman, NAI Realvest 407-875-9989
Larry Vershel, Larry Vershel Communications Inc. 407 644 4142

NAI Realvest Negotiates Two New Industrial Leases at Commerce Centers in Kissimmee, FL and Longwood, FL

Poinciana CommerCenter East, Kissimmee, FL
MAITLAND, Fla. – NAI Realvest recently negotiated two new industrial lease agreements – one in Longwood and one at Poinciana CommerCenter East in Kissimmee.  

 Michael Heidrich Sr., principal at NAI Realvest brokered both transactions on behalf of the landlords.

 At 1205 Sarah St. off SR 427 in Longwood, Heidrich negotiated a new lease of 17,120 square feet with Florida Marking Products, member of The Kennedy Group, Inc., manufacturers of advertising specialty items, label and packaging solutions and front-page advertising products for newspapers.   

Michael Heidrich Sr.
The Willoughby, Ohio-based tenant was represented by K.C. Tenukas of CLW Real Estate Services. The landlord is Industrial Property Partners Inc. of Coral Springs, Fla.

 At Poinciana CommerCenter East, 1743 Business Center Lane in Kissimmee, Heidrich negotiated a lease of 2,700 square feet on behalf of landlord, Small Bay Partners LLC of Maitland.   The new local tenant is Hollywood Md.-based Potomac Distributing, LLC. 


Michael Heidrich, Sr., Principal, NAI Realvest 407-875-9989 or
Robin L. Webb, CCIM, CHA, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest, 407-875-9989  
Patrick Mahoney, President, NAI Realvest 407-875-9989
Beth Payan, Larry Vershel Communications 407-644-4142

HFF closes $101 million sale of and arranges $75 million financing for The Communities of Ascot Glen in Willowbrook, IL

The Communities of Ascot Glen, Willowbrook, IL
CHICAGO, IL – HFF announced today that it has closed the sale of and arranged financing for The Communities of Ascot Glen, a two-property multi-housing community totaling 712 units in Willowbrook, Illinois.

HFF marketed the properties on behalf of the seller, an institutional owner.  TGM Associates purchased the offering for $101 million. 

  In addition, HFF also secured a $75 million 10-year, 3.745 percent fixed-rate loan through M&T Realty Capital Corporation (FNMA).  Proceeds were used to acquire the property.

Matthew Lawton
The HFF investment sales team representing the seller was led by executive managing director Matthew Lawton, managing directors Marty O’Connell and Sean Fogarty and associate director Wickliffe Kirby.

                TGM Willowbrook Apartments, formerly known as The Communities of Ascot Glen, is located at 6060 Laurel Lane on Highway 83, 20 miles southwest from downtown Chicago.

 This 95 percent occupied property consists of a total of 712 units spread across 76 two-story buildings.  Some of the apartments were partially renovated in 2010, and the community features one- and two-bedroom floor plans averaging 847 square feet each.

Marty O'Connell
Community amenities include two spacious fitness centers, two clubhouses , three outdoor swimming pools, three tennis courts, sand volleyball court, game room, business center and dog walking trails. For additional information please visit

 HFF’s debt placement team representing the buyer was led by managing director Matthew Schoenfeldt and senior real estate analyst Jason Bond.

Sean Fogarty
Founded in 1991, TGM is an investment advisory firm with a focus on multifamily properties.  The firm acquires, manages and sells apartment properties throughout the United States.  Since its inception, TGM has invested in more than $1.8 billion in 117 multifamily residential properties throughout 28 states. 


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 |

MACK Companies Sells 93 More Single-Family Rentals to American Residential Properties, Inc. for $12 Million

Rental housing in Country Club Hills, IL
 CHICAGO, IL (March 8, 2013) – MACK Companies, the largest redeveloper of single-family investment properties in Chicago, has announced the sale of 93 more investment properties to American Residential Properties, a Phoenix area real estate investment trust, for more than $12 million.

This sale comes on the heels of a $28 million, 196 single-family rental property deal that took place between the two companies in December of last year, said James McClelland, president and CEO of Tinley Park, Ill.-based MACK Companies.

James McClelland
 “This deal reflects another step in the long-term partnership between MACK and ARP,” said McClelland. “As the single-family rental market continues to flourish, we know that there will be ample opportunities to provide ARP with the product that they seek—performing single-family homes, expertly managed in prime locations.

“These deals with MACK allow each company to focus on what it does best,” said Steve Schmitz, CEO of ARP. “We are essentially investing in MACK just as much as we are investing in these properties. As our Preferred Operating Partner, it is their job to ensure that these properties are performing at their highest level and consistently brining value to us, the owner.” 
Steve Schmitz
MACK and ARP have reached an agreement that would supply ARP with up to 30-50 fully rented properties each month during the next 24-36 months. The transactions could total up to 1,000 MACK properties purchased by ARP, said McClelland.

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

Mark Thomton,

Hollywood’s Tallest Residential Tower Up for Sale

LOS ANGELES, CA,  March 8, 2013 – Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has the exclusive listing for Sunset Vine Tower, a 20-story 64-unit mixed-use high-rise with nine-story-high super-graphic billboard signage on all four sides of the building and 11,512 square feet of ground floor retail/restaurant space.

Sunset Vine Tower is located on one of Los Angeles’s most prestigious and highly trafficked intersections, the southeast corner of Sunset Boulevard and Vine Street. The property is available on an open-bid basis.
 IPA executive vice presidents investments Greg Harris and Ron Harris, along with IPA directors Kevin Green, Joseph Grabiec and Joseph Smolen are representing the seller, a Los Angeles-based fund advisor.

            “Sunset Vine Tower is one of the marquee apartment properties in Los Angeles, and also one of its most recognizable buildings,” says Greg Harris. “The striking all-glass exterior and high-end unit finishes create an unbeatable combination of modernist design and classic luxury.”

“As the preeminent luxury community in Hollywood, Sunset Vine Tower is positioned to experience sustained and consistent rent growth over the coming market cycle,” adds Ron Harris.  “Also, an existing tentative condominium tract map for the property sets the stage for a potential condominium exit strategy.”

Greg Harris
Sunset Vine Tower is located in the heart of Hollywood at 1408 Vine St.

 The Hollywood Palladium, Sunset Gower Studios and ArcLight Cinerama Dome are across the street, and the Pantages Theatre, Capitol Records, the Hollywood W hotel, and the Hollywood Roosevelt hotel are a few blocks away. The El Capitan Theatre, Dolby Theatre, the TCL Chinese Theatre and the Hollywood & Highland Center are also within walking distance.

Ronald Harris
The property’s apartment mix features 38 one-bedroom/one-bath apartments, 18 one-bedroom/two-bath units, four two-bedroom/two-bath units and four two-bedroom/2.5-bath apartments.

The interiors feature 13.5-foot floor-to-ceiling windows with ocean, city, mountain, and Hollywood sign views, gourmet kitchens with stainless steel appliances, maple hardwood flooring, in-home washer/dryer, central air conditioning and heating, and secure parking.

Kevin Green
Sunset Vine Tower’s community amenities include a resort-style swimming pool, a 24-hour state-of-the-art-fitness center, key-access elevators, a 24-hour courtesy patrol and on-site concierge service.

To complement its 297-foot tall stature, the tower has a billboard on each side of the building. Each one measures 36 feet wide by 140 feet high. To minimize the obstruction of views from the residential units and to create privacy, the billboards have been placed primarily between stairwells, bathrooms and bedrooms.

Sunset Vine Tower’s retail spaces are currently 100 percent leased to Go Burger, The Melt, Tender Greens and Chipotle Mexican Grill.

Ben Johnson,
Marketing Director
(925) 953-1736

Marcus & Millichap Capital Corp. Arranges $5.2 Million Charter School Refinance

Colton Smith
 SALT LAKE CITY, UT– Marcus & Millichap Capital Corporation (MMCC) has arranged a $5.2 million loan to refinance a charter school located in Salt Lake City.

            Colton Smith, an associate director in MMCC’s Salt Lake City office, arranged the loan.

            “Lenders tend to be stymied with regard to charter schools, as this is an unusual and often challenging investment category,” says Smith. “Operations and enrollment are government-funded, financial standing is complex and ongoing demand is difficult to predict, though the market is currently seeing an uptick in charter school financing.”

“Through the power of MMCC’s platform,” adds Smith, “we located a lender who understood the intricacies of the charter school business. We completed the transaction and the borrower fulfilled the dual goals of increasing net cash flow with a lower permanent rate and extending the previous loan’s maturity date.”

            The five-year loan amortizes over 25 years at 4.25 percent. The LTV is 66 percent.
Press Contact:

Ben Johnson
Marketing Director
Marcus & Millichap Capital Corporation
(925) 953-1736