Thursday, March 14, 2013

HFF arranges financing for Class A multi-housing property in northeast Houston, TX

Carrington at Park Lakes, Houston, TX
HOUSTON, TX – HFF announced today that it has arranged financing for Carrington at Park Lakes, a 252-unit, Class A multi-housing community in northeast Houston, Texas.

                HFF worked exclusively on behalf of Venterra Realty to secure the seven-year, 3.07 percent, fixed-rate loan through a national life insurance company.  Loan proceeds were used to acquire the property.  HFF will also service the loan.

                Carrington at Park Lakes is located at 4775 Wilson Road close to the Sam Houston Tollway (Beltway 8) and Redstone Golf Club in Humble, approximately 14 miles northeast of Houston’s central business district. 

Completed in 2012, the property has one-, two- and three-bedroom floor plans averaging 1,125 square feet each.  Community amenities include a pool, business center, cardio and strength training center, social room, arcade, foosball table and bbq area.  Carrington at Park Lakes is 94 percent leased.

The HFF team representing Venterra was led by director Cortney Cole.

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

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 |

Foreclosure Starts Reach 17-Month High in Nevada, 31-Month High in Maryland; Florida Posts Top State Foreclosure Rate; Miami Posts Top Metro Foreclosure Rate

Daren Blomquist
 IRVINE, CA – March 14, 2013 — RealtyTrac® (, the leading online marketplace for foreclosure properties and real estate data, today released its U.S. Foreclosure Market Report™ for February 2013, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 154,281 U.S. properties in February, an increase of 2 percent from the previous month but still down 25 percent from February 2012.

The report also shows one in every 849 U.S. housing units with a foreclosure filing during the month.

“At a high level the U.S. foreclosure inferno has been effectively contained and should be reduced to a slow burn in the next two years,” said Daren Blomquist, vice president at RealtyTrac.

 “But dangerous foreclosure flare-ups are still popping up in states where foreclosures have been delayed by a lengthy court process or by new legislation making it more difficult to foreclose outside of the court system.

“Foreclosure starts have been steadily building in those states over the last several months and likely will end up as bank repossessions or short sales later this year.”

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

Jennifer von Pohlmann
949.502.8300, ext. 139

Ginny Walker
949.502.8300, ext. 268

Data and Report Licensing:
Data Sales Department

HFF arranges $5.3 million supplemental financing for Signature Club Apartments in Ann Arbor, MI

Signature Club Apartments
Ann Arbor, MI
CHICAGO, IL – HFF announced today that it has arranged $5.3 million in supplemental financing for Signature Club Apartments, a 324-unit multi-housing community in Ann Arbor, Michigan.

HFF worked on behalf of Marquette Companies to secure the five-year, 3.97 percent financing through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. 

The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.   The loan will supplement the first mortgage HFF arranged in 2011.

Signature Club Apartments is located at 3000 Signature Boulevard near Interstate 94 to the south of downtown Ann Arbor. 

Matthew Schoenfeldt
The property has one- and two-bedroom units averaging 1,048 square feet each and is 97.5 percent leased.  Community amenities include a 24-hour fitness center, dry sauna, indoor hot tub, outdoor swimming pool, tennis court, sand volleyball court, barbecue and picnic area, business center, library and clubhouse.

The HFF team representing the borrower was led by managing director Matthew Schoenfeldt and senior real estate analyst Jason Bond.

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

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 | Introduces Revolutionary Era of Online Commercial Property Leasing

Steve Winger
 LOS ANGELES, CA– Steve Winger, a 25-year veteran of the commercial real estate industry, has launched, a revolutionary web portal designed to facilitate the auction of commercial real estate space available for lease. The company launches with 22 active auctions in five states.

Similar to the structure of existing online auction sites like and for retailers and consumers, commercial landlords and brokerage professionals can post a suite of space for lease through 

The tenants can then participate in an active 45-day bidding process to win the space at the lease price to which they are willing to commit.

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

Jill Swartz
Spotlight Marketing Communications
949.427-5172, ext. 701 – direct
949.485.1552 – mobile

KW Property Management & Consulting Opens New Broward County, FL Office

Sawgrass Corporate Park, Broward County, FL
Fort Lauderdale, FL, March 14, 2013 - KW PROPERTY MANAGEMENT & CONSULTING (KWPM), a statewide leader in turnkey property management, has opened a new office location in Broward County to better serve its association clients in the tri-county area.

The Fort Lauderdale office has approximately 1,625 square feet and is located at 13790 NW 4th Street, Suite 107, in the 612-acre Sawgrass Corporate Park.

The company currently handles property management services for the following residential clients in Broward County - Hollywood Beach Resort, Silver Shores, Pembroke Shores and Tao Sawgrass Condominium Association.

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

Brittany Nguyen
Becker Public Relations
2506 Ponce de Leon Blvd.
Coral Gables, FL 33134
Telephone 305/444-2181 X 221

ZipRealty Releases List of Most Affordable Housing Markets of 2013

EMERYVILLE, CA– ZipRealty, Inc. ( (NASDAQ: ZIPR), the leading online technology-enabled residential real estate brokerage company, has released a list of the 10 most affordable housing markets of 2013 based on ZipRealty’s analysis of two years of authoritative MLS data and U.S. Census Bureau information.

The evaluation compared median home sale prices in 30 metropolitan areas to median household income levels in those same cities. Those metropolitan areas with the lowest ratios of home price to household income were deemed to be the most affordable areas for purposes of the study.

 Below is a list of the Top 10 Most Affordable Housing Markets with the current ratio of median home sales prices to median household income. 

1)     Dallas-Fort Worth          5.27x
2)     Houston                        5.43x
3)     Minneapolis                  5.50x
4)     Orlando                        5.89x
5)     Las Vegas                    5.98x
6)     Raleigh, N.C.                 6.03x
7)     Austin                           6.13x
8)     Denver                          6.31x
9)     Nashville                       6.47x
10)  Phoenix                        6.59x

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

Stacey Corso
Public Relations Manager
ZipRealty, Inc.
Follow us on Twitter: @ZipRealty

Growing Atlanta Property Group Hires Austin Chase as Director of Leasing

Court Thomas
 ATLANTA, GA – Atlanta Property Group, a locally based real estate investment firm, experienced incredible leasing velocity in 2012 as occupancy jumped 15 percentage points at its six recently acquired properties and 10 percentage points in the remainder of the portfolio totaling 2.2 million square feet.

 “Our leasing velocity demonstrates our ability to achieve our overall goal, which is to position Atlanta Property Group as the go-to provider of quality office space for value-conscious small and mid-size tenants,” said Court Thomas, a partner in Atlanta Property Group. “We accomplished this increase in occupancy in a year that was generally a flat period for the local economy and office market.”

280 Interstate North, Atlanta, GA
To maintain the leasing momentum, APG has added veteran landlord representative Austin Chase to its team as Director - Leasing. The firm is bringing its leasing services in house as its portfolio continues to expand.

“We are continually seeking future investment opportunities across the metro Atlanta area,” Thomas said.

In the later part of 2012, APG closed on the acquisition of three buildings in Atlanta as part of its fund portfolio, including: Paces Cumberland, at the intersection of Paces Ferry Road and 1-285 in the Cumberland/Galleria submarket; 280 Interstate North, also in the Cumberland/Galleria submarket; and 1190 West Druid Hills in the Druid Chase Office Park.

 The acquisitions bring APG’s total portfolio to 2.2 million square feet. The firm continues to be an active buyer in the Atlanta market.

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

Tony Wilbert                                          
The Wilbert Group
404-965-5022 (O)
 404-405-3656 (C)

Orlando Office of Lincoln Property Company Southeast Honored in CoStar’s Annual Power Brokers Awards

Jay Dixon
 ORLANDO, FL – The Orlando office of Lincoln Property Company Southeast has received several honors in the CoStar Group’s annual Power Brokers Awards for the metro Orlando market.

Robert Kellogg
 The office was named to CoStar’s Top Leasing Firms list. Furthermore, both Jay Dixon and Robert Kellogg were named to the Top Office Leasing Brokers list; each has the title of vice president, office leasing, at Lincoln.

Joe Rossi, senior vice president, investment services, for Lincoln, was named to the Top Sales Brokers list.

Joe Rossi
“I am extremely proud of the recognition from CoStar that the Orlando office has received in the Power Brokers Awards,” said Scott Stahley, a Lincoln senior vice president who manages the Orlando office.

Scott Stahey
 “Jay, Robert and Joe are all extremely deserving of their honors, and these awards are a testament to the outstanding quality of services that we provide our clients.”

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

Stephen Ursery
Wilbert Public Relations

Essex Realty Group Brokers the Sale Of 3 Apartment Buildings in Chicago, IL

Crescent Apartments, 1205 North Frolic
Waukegan, IL
 CHICAGO, IL – Thursday, March 14, 2013- Essex Realty Group, Inc. is pleased to announce the sale of 1205 N. Frolic also known as Crescent Apartments.

 The property consists of two, twenty-four unit apartment buildings as well as one, sixteen unit apartment building on an approximate 2.23 acre site. 

The three building, sixty-four unit complex was constructed by the current owners in 1990.  Each three-story building features exceptionally large apartments, passenger elevators, and a heated underground parking garage that offers one parking space per unit; additionally, the property includes sixty-four outdoor parking spaces.

Kate Varde
Crescent Apartments is located in Chicago’s north suburb of Waukegan.  Situated roughly two miles east of Skokie Highway (Route 41) and three miles west of Lake Michigan, Crescent Apartments offers residents easy access to nearby communities.

The Subject Property consists of a unit mix of (32) one bedroom/one bath, (32) two bedrooms/two baths, (64) Underground parking spaces and (64) Outdoor Spaces.

Douglas Imber
Doug Imber and Kate Varde of Essex were the brokers in the transaction.  The price was approximately $3,470,000.

 Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

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

Douglas S. Imber
Essex Realty Group, Inc.