Monday, March 18, 2013

Nine Florida Apartment Units Sell for $370,150

Michael P. Regan
DUNEDIN, FL,  March 18, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of James Street Apartments, a nine unit apartment community located in Dunedin, Florida, according to Richard D. Matricaria, Regional Manager of the firm’s Tampa office.

 The asset commanded a sales price of $370,150.

Michael P. Regan and Francesco P. Carriera, vice president investments and James Vestal, investment specialist in Marcus & Millichap’s Tampa office, represented both the seller and the buyer, private investors based in Florida.

Francesco P.
Built in 1959, James Street Apartments is located at 442 James Street in Dunedin, Florida.  The property is located within walking distance of downtown Dunedin and is situated in a Class “A” rental market. James Street Apartments consists of three, one and two-story buildings situated on approximately a .56-acre parcel of land.

 All units have individual air-conditioning.  Amenities include an on-site laundry facility and ample on-site parking.

“This transaction represents the waning supply of distressed assets on the market,” says Vestal.  “As we head into a more normalized market, opportunities like this will become fewer and farther between and I think the buyers really recognized that.”

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

Richard D. Matricaria
Regional Manager,
(813) 387-4700

Marcus & Millichap Capital Corp. Announces Top 10 Originators of 2012

NEWPORT BEACH, CA, March 18, 2013 – Marcus & Millichap Capital Corporation (MMCC) has named its top 10 loan originators of 2012, according to William E. Hughes, MMCC’s senior vice president and managing director.

“It gives me great pleasure to recognize the firm’s 2012 top 10 loan originators,” says Hughes. “The high level of performance they have achieved is a direct result of their commitment to providing superior debt and equity advisory services to clients.”

MMCC’s top 2012 loan originators in descending order by rank are:

·         Danny Abergel, vice president capital markets, Encino, Calif.
·         Sharone Sabar, vice president capital markets, Encino, Calif.
·         Jake Roberts, vice president capital markets, West Los Angeles, Calif.
·         Michael Derk, vice president capital markets, Long Beach, Calif.
·         Glenn Gioseffi, senior director, Seattle, Wash.
·         Farhan Kabani, director, Dallas, Texas
·         Chad O’Connor, vice president capital markets, San Diego, Calif.
·         Anita Paryani Rice, vice president capital market, West Los Angeles, Calif.
·         Dean Giannakopoulos, associate director, Chicago
·         James Conley, director, Philadelphia

            “We closed more than 900 transactions and arranged more than $2.2 billion in loan volume last year,” adds Hughes. “Given the current outlook for commercial real estate finance, we expect 2013 to be a banner year for our clients with originations exceeding 2012’s volume by 20 percent or more.”

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

Ben Johnson,
Marketing Director
(925) 953-1736

Stan Johnson Co. Completes Sale of Bank of America Property in Brooklyn, NY for $8,455,882

Jason Maier
 BROOKLYN, NY (MARCH 18, 2013) – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of an under construction retail property 100% leased to Bank Of America, located on  18TH Avenue in Brooklyn for $8,455,882. The property is expected to be completed mid-2013.

Jason Maier, Director of Stan Johnson Company represented the seller, a private corporation, and the 1031 exchange buyer, an individual investor. The property featured a new 20-year lease term with five, five-year renewal options.

  The property is strategically located at the signalized intersection of 18th Avenue and 66th Street, on one of the busiest retail corridors in Brooklyn. Nearby Tenants include Walgreens Pharmacy, CVS Pharmacy, TD Bank, Chase Bank, McDonalds, Starbucks and others.

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

David Ebeling
Ebeling Communications

HFF arranges joint venture equity for multi-housing development in Denver, CO

Solana Cherry Creek Rendering, Denver, CO
SAN DIEGO, CA – HFF announced today that it has arranged joint venture equity for the development of Solana Cherry Creek, a 341-unit, Class A, to-be-built multi-housing community in Denver’s Cherry Creek submarket of Glendale, Colorado.

                HFF worked exclusively on behalf of MKS Residential LLC to secure the joint venture equity through an institutional investor.  Equity proceeds are being used to build the project.

Pat Burger
Due for completion in 2016, Solana Cherry Creek will be a LEED Gold four-story building with a five-level parking garage.  The project will have studio, one-, two- and three-bedroom units averaging 852 square feet each and parking to accommodate 626 vehicles. 

Community amenities will include a clubhouse, coffee social, multi-purpose yoga, spin and training room, state-of-the-art fitness facility and resort-style pool with outdoor living room. 

Josh Simon
Solana Cherry Creek is situated on a 5.3-acre site at 801 South Cherry Street within the Cherry Creek Corporate Center campus redevelopment in the Glendale area of Denver, directly between Glendale’s new Infinity Park to the south and the proposed Glendale Riverwalk redevelopment area to the north. 

The site is walking distance to Whole Foods, Super Target, King Soopers and other retail and entertainment venues.

Husayn Hasan
The HFF team representing MKS Residential LLC was led by directors Pat Burger, Josh Simon and Jordan Robbins and senior real estate analyst Husayn Hasan.

                MKS Residential LLC is a Southern California and Colorado-based firm specializing in the investment, development and construction of Class A multi-housing and mixed-use projects in key markets in California and the western region of the United States and was formed by multi-housing industry veterans Ronnie Morgan, Louis Kuntz and Ric Shwisberg

Jordan Robbins
Jason Smith serves as MKS Residential’s Regional Development Partner in Colorado.  .
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 |

HFF closes sale of multi-housing property in Manhattan’s Upper West Side

Andrew Scandalios
NEW YORK, NY – HFF announced today that it has closed the sale of The Hamilton, a 178-unit, Class A multi-housing property in Manhattan’s Upper West Side.

HFF marketed the properties on behalf of the seller, a joint venture between the Dermot Company and Henderson Global Investors.  The Orbach Group purchased the property free and clear of existing debt.

                The Hamilton is located at 210-230 West 107th Street between Broadway and Amsterdam Avenue approximately two and a half blocks from Central Park and Riverside Park.  

The 95 percent leased property consists of three adjacent mid-rise buildings containing a mixture of studio, one-, two- and three-bedroom units averaging 779 square feet each.  Building amenities include on-site laundry facilities, elevators, secured entries, on-site super, on-site porter and available storage.

The HFF investment sales team representing the seller was led by senior managing directors Andrew Scandalios and Jose Cruz and managing directors Jeff Julien and Kevin O’Hearn.

Jeffrey Julien
The Dermot Company is led by principals, William P. Dickey and Stephen N. Benjamin.  Formed in 1991 as a real estate management company focused on multi-family sector opportunities, Dermot today is a fully-integrated real estate enterprise with nearly $2.0 billion in assets under management and development.  Historically, Dermot has partnered with institutional equity investors to implement its New York City multi-family development strategy

Kevin O'Hearn
To date, Dermot has developed over $1.6 billion of apartment projects in New York City.

                Established in 1934, Henderson Global Investors (Henderson) is a leading independent global asset management firm.  The company provides its institutional, retail and high net-worth clients access to skilled investment professionals representing a broad range of asset classes, including equities, fixed income, property and private equity. 

William P. Dickey
With its North American headquarters in Chicago, IL, Henderson oversees £65,650 million assets under management and employs around 1,014 people worldwide (as at 31 December 2012).

                The Orbach Group is a real estate owner and management firm focused on the New York City, New Jersey and Pennsylvania markets. 

Stephen N. Benjamin
The group takes an active hands-on approach to property operations through concentrating on leasing and lease administration, tenant services, building management, capital improvements, financial administration, property repositioning and asset management.

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 |

McCarthy Building Companies Completes Construction of CHOC Children’s Hospital’s New Bill Holmes Tower in Orange County, CA Two Months Early

Kimberly Chavalas Cripe
 Orange, CA (March 18, 2013) – Now that construction is complete on a seven-story patient care tower at CHOC Children’s Hospital, families in Orange County, Calif. have a bright new pediatric hospital facility to help children heal and feel more at ease when they become ill or injured and need specialized medical attention.

Specifically designed for the care of children, the new 425,524-square-foot patient tower will provide leading-edge technology and advanced programs and services in a child-friendly, healing environment when it completely opens in late March 2013.

“Already a regional leader in pediatric care, now CHOC, with the help of McCarthy Building Companies and our construction and design partners, has built one of the most advanced, safest children's hospitals in the world,” said Kimberly Chavalas Cripe, president and CEO, CHOC Children's.

 “Within this beautiful, seven-story tower, which triples the size of our existing inpatient facility in Orange, our team of clinicians and staff will employ cutting-edge science and technology to improve care and outcomes for our community's children, making their futures brighter than ever," 

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

Laura Mickelson (LM Communications)                                
(949) 453-0851                            

Susan Garritano
(McCarthy Building Companies, Inc.)    
 (314) 968-3300                           

Miami Developer: 'There Is Not A Boom' Despite 122 Condo Towers Proposed

Carlos Rosso

 MIAMI, FL -- Despite nearly 125 new condo towers - and counting - being proposed for coastal South Florida, a top executive with the Related Group - Florida's most prolific vertical condo developer - rejects the idea the tricounty region of Miami-Dade, Broward, and Palm Beach is in the midst of another construction boom like the one that began a decade ago in 2003, according to a new report from

"We don't agree with this idea of, 'There is another boom,'" Carlos Rosso, the president of new condo development division of the Related Group, told a sold out crowd of 200 people at the 5th Annual State Of The South Florida Condo Market Seminar on Feb. 27, 2013 at the Met 1 condominium in Greater Downtown Miami.

"There is not a boom. The difficult thing of Miami is to measure the demand for Miami.

"There is a lot of demand for different reasons. It is really not people who are working in Miami that are buying. It is people who want to buy a piece of the U.S. instead of buying a bond or instead of buying securities. They say, 'I want to buy bricks in Miami.' That is what they do."

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

Condo Vultures® LLC
225 Midtown Building
225 NE 34th St., Suite 209B,
 Downtown Miami, Florida, 33137.

Hotel Equities Partners with Lodging Econometrics to Accelerate Its Growth Plans

Brad Rahinsky
Atlanta, GA, March 18, 2013--Hotel Equities, a full service hotel development and management company based in Atlanta, announces that it has partnered with Lodging Econometrics (LE) of Portsmouth, N.H., to accelerate the gathering of its Real Estate Market Intelligence and compiling it in one easy-to-use platform.

The agreement calls for LE to identify all new business opportunities that meet the exacting specifications of Hotel Equities' hotel acquisitions, development and management teams.

"We want to continue to intelligently expand our portfolio and rapidly capitalize on the broad recovery taking place within our industry," said Brad Rahinsky, Senior Vice President at Hotel Equities. "When we were first introduced to Lodging Econometrics' Real Estate Intelligence Program, we immediately grasped the benefits of outsourcing our Intelligence gathering needs.”

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

  500 Market Street, Suite 13
  Portsmouth, NH 03801
  603-431-8740 x 16

Annaly Appoints John Schaefer to the Company's Board of Directors

John H. Schaefer
NEW YORK, NY, Mar. 18, 2013--(BUSINESS WIRE)-- Annaly Capital Management, Inc. (NYSE: NLY) (“Annaly” or the “Company”) today announced that John Schaefer has been appointed as a member of the Board of Directors of the Company by the Company's Board of Directors.

Mr. Schaefer has over 30 years financial services experience including serving as a member of the management committee of Morgan Stanley from 1998 through 2005 and as President and Chief Operating Officer of the Global Wealth Management division of Morgan Stanley.

 Mr. Schaefer retired in February 2006 and from 2008 through 2012 served as a board member and chair of the audit committee of USI Holdings Corporation. Mr. Schaefer has a B.B.A. in Accounting from the University of Notre Dame and an M.B.A. from the Harvard Graduate School of Business.

Wellington J. Denahan
"On behalf of all Annaly employees and shareholders, I want to thank John Schaefer for making this commitment to our company and welcome him to our board of directors," said Wellington J. Denahan, Annaly's Chairman and Chief Executive Officer. "I believe John's broad financial services experience and strong management background will be a valuable addition to our company."

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

Annaly Capital Management, Inc.
Investor Relations, 888-8Annaly

Essex Realty Group Brokers Sale Of New Construction, Multi-Family Building in Chicago,IL

Boulevard Place, Skokie, IL
CHICAGO, IL– Monday, March 18, 2013 - Essex Realty Group, Inc. is pleased to announce the sale of 8253-57 Skokie Boulevard (Boulevard Place), a new construction, multi-family elevator building located in Skokie, Illinois, approximately 15 miles north of Chicago’s Central Business District. 

 The property consists of 31 residential units, 2,996 square feet of retail space, and 55 parking spaces (43 garage, 12 exterior).

Matt Welke
Boulevard Place is situated on U.S. Route 41 (Skokie Boulevard), three miles south of the Westfield Old Orchard Mall and three blocks north of the Illinois Science & Technology Park. 

Jason Fishleder
The property’s convenient location offers easy access to the Edens  Expressway (I-94) and the new CTA Oakton-Skokie Yellow Line station one block south at the corner of Oakton Street and Skokie Boulevard.

The Subject Property consists of a unit mix of (1) one bedroom/one bath, (4) one bedroom/one and a half bath, (2) one bedroom/two baths, (3) two bedrooms/two baths, (15)  two bedrooms/two baths, (5) two bedrooms/two baths, (1) two bedrooms/two and a half baths and (2) Retail Units.

Douglas Fisher
Matt Welke, Jason Fishleder and Doug Fisher of Essex were the brokers in the transaction.  The price was approximately $5,700,000.

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


Douglas S. Imber
Essex Realty Group, Inc.

Equity Partners negotiates Long-Term Orlando, FL Office Lease for 28,500 SF

Faith Thompson
ORLANDO – Equity Partners negotiated a long-term lease renewal with Non-Secure Programs, Inc., for 28,500 square feet of office space at 644 Ferguson Drive in Orlando, Florida.

Michael Fess, president of Equity Partners Inc., and Faith Thompson, Leasing Manager, negotiated the transaction.

Michael Fess

Faith Thompson
Leasing Manager
Equity Partners, Inc.
Licensed Real Estate Broker
20 North Orange Avenue
Suite 605
Orlando, Florida 32801
407.660.4949 phone
407.808.2656 cell
407.660.4995 fax

Greystone Provides $34.6 million HUD Loan to Indianapolis Multifamily Property

Betsy Vartanian
New York, NY – March 18, 2012 – Greystone, a leading national provider of multifamily and healthcare mortgage loans, today announced it has closed a $34.6 million loan for Lake Castleton Apartments, a 1,261 unit multifamily apartment complex in Indianapolis, Indiana.

The deal was originated by Josh Sasouness, one of Greystone’s FHA originators based in New York City.

Greystone has 25 years of experience working with the U.S. Department of Housing and Urban Development (HUD) and is intimately familiar with the complexities associated with FHA insured financing.

Lake Castleton Apartments, Indianapolis, IN
 “It is important that borrowers seeking an FHA insured loan engage a lender with extensive HUD experience to ensure that the loan is underwritten in accordance with precise FHA guidelines. This will expedite a commitment and ensure an efficient closing process”, said Betsy Vartanian, head of Greystone’s FHA business.

 Greystone received a commitment from HUD for a Section 223(a)(7) loan to insure Lake Castleton just 44 days from submission. Greystone provided extremely favorable conditions, including a 35-year term and a self-liquidating loan. The property is located at 7601 Carlton Arms Drive in Indianapolis, Indiana.

Lake Castlton Apartments exterior
 “The Section 223(a)(7) program is an expedited way for a  borrower who already has a HUD insured loan to refinance its loan  for the purpose of lowering the interest rate. 

"We are proud of our experience working with HUD and delighted to be able to provide financing quickly and at the extremely attractive interest rates,” continued Ms. Vartanian.

 “This program is incredibly beneficial to borrowers and we look forward to continuing to provide them for clients across the county.”

 Greystone’s multifamily and healthcare mortgage lending group consists of over 200 individuals located in offices throughout the United States. For more information on Greystone’s financing solutions please visit


Loretta Mock/Josh Gerth
+1 646 395 6300