Wednesday, May 15, 2013

William H. Winn Named President and CEO of Fortus Property Group

William H. Winn
IRVINE, CA -- William H. Winn has been named President and CEO of Fortus Property Group. Fortus is a vertically-integrated retail investment and operating company with over two million square feet of retail and mixed-use properties located throughout the Western U.S. 

As CEO, Winn will expand the firm's portfolio and seek out opportunities to build on Fortus' solid investment foundation. Winn will join the firm at the end of May, 2013.

Fortus Property Group was founded by real estate entrepreneur David Lee. The executive team behind Fortus is comprised of industry veterans with significant experience in operating and investing in real estate. 
"Bill brings a strong track record of success to Fortus having taken his previous employer, Passco, from an asset management, leasing and property management platform to a national market leader in the acquisition and management of commercial properties located throughout the U.S.," said Lee.

David Lee
"  During his 14-year tenure, Bill led a diversified acquisition strategy that significantly expanded that company's portfolio from retail to industrial and multi family, I look forward to his leadership in helping Fortus expand its breadth of services and diversify its real estate investment opportunities."

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

Darcie Giacchetto

$16.4 Million Medical Office Refinance Arranged by Marcus & Millichap Capital Corp.

Peter Dunn

 HOUSTON, TX, May 14, 2013 – Marcus & Millichap Capital Corporation (MMCC) has arranged the $16.4 million refinance of a 125,000-square foot medical office building in Houston.

            Peter Dunn, a senior director in MMCC’s Houston office, arranged the loan.

            “The property was severely damaged by Hurricane Ike in 2008 and then completely abandoned,” says Dunn. “The borrower purchased the property in March 2012 with the intent of completely rehabilitating it and converting it to a medical office building.”

            “The client, an experienced general contractor who had recently expanded his skill set and was acting as both the contractor and developer of the project, requested a traditional construction loan with maximum leverage on a non-recourse basis,” says Dunn.

“We were able to secure a non-recourse bridge loan at a floating rate of 9.56 percent with an 80 percent LTV that will convert to a permanent, 10-year, fixed-rate CMBS loan at stabilization.”

            “This asset came with an unusual set of circumstances that required a specialized loan structure,” adds Dunn. “We sourced a lender that that was able to handle this type of ‘all-in-one’ loan and worked to make sure that our client understood the underwriting every step of the way.”

            “Houston’s strong economy supports retrofitting opportunities across all product types,” concludes Dunn. “Bridge lending will continue here for at least the near-to-short term.”

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

Ben Johnson
 Marketing Director
(925) 953-1736

Marcus & Millichap Promotes Gabriel A. Britti to Associate Vice President Investments in Miami Office

Gabriel A. Britti
 MIAMI, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Gabriel A. Britti to associate vice president investments.

This high level of recognition represents excellence in the development and servicing of long-term client relationships, according to Kirk A. Felici, first vice president and regional manager of Marcus & Millichap’s Miami office.

Kirk A. Felici
Most recently, Britti was a senior associate. He is also an associate director of the firm’s National Retail Group.

Britti began his career with Marcus & Millichap in January 2009 as a retail properties investment specialist. In January 2012, he was promoted to senior associate and was the top producing agent in the Miami office that year.

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

Ben Johnson
 Marketing Director
(925) 953-1736

HFF arranges $31 million financing for 1.1 million SF New Jersey industrial portfolio

Port Newark/Elizabeth

Jon Mikula
FLORHAM PARK, NJ – HFF announced today that it has arranged $31 million in financing for a three-building industrial portfolio comprised of approximately 1.1 million square feet in the northern New Jersey towns of Elizabeth, Edison and Bayonne.

Working on behalf of a joint venture between Cohen Asset Management, Inc. and New York Life Investment Management, HFF placed the seven-year, fixed-rate acquisition loan with Principal Real Estate Investors.  HFF sold the assets to the borrower as part of a larger portfolio in 2012.

The portfolio is 99 percent leased and is within close proximity to Port Newark/Elizabeth, Newark International Airport and major roadways including Interstate 95/The New Jersey Turnpike and Interstates 78 and 287. 

Paul Brindley
 The HFF team representing the borrower was led by senior managing directors Jon Mikula and Paul Brindley.

Established in 1992, Cohen Asset Management, Inc. is a national owner and operator of commercial property with a primary focus on the industrial real estate.  Cohen Asset Management, Inc. is strategically headquartered in Southern California with a regional office in northern New Jersey.

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

Arbor Appoints Two Originators in New York City Office

Michael Zysman

UNIONDALE, NY (May 14, 2013) – In conjunction with its sustained origination volume growth, Arbor Commercial Mortgage, LLC (“Arbor”) today announced the appointment of Michael Zysman as Director and Ben Levine as Originator in the company’s New York City office.

Mr. Zysman and Mr. Levine are responsible for originating loans under all of Arbor’s multifamily and commercial product lines, including Fannie Mae, FHA, CMBS, Bridge, Mezzanine and Preferred Equity. They will both report to Ken Fazio, Senior Vice President, National Production Manager.

 Prior to their current roles, both Mr. Zysman and Mr. Levine were Senior Underwriters at Arbor. 

Ben Levine
Prior to joining Arbor, Mr. Zysman was a Vice President at the New Dawn Companies, where he led a team responsible for the acquisition, capital raising, underwriting and structuring of more than 4,500 multifamily units with a total capitalization of $450 million.  He has also held acquisition and asset management roles at Reckson Strategic Venture Partners, LLC; Time Equities, Inc.; The Bainbridge Companies; and LNR Partners LLC.

 Mr. Zysman has more than 12 years of commercial real estate experience and has been involved in more than $1.5 billion of closed transactions across most product types, including multifamily, office, retail, industrial, student housing, condo conversion and ground-up development. 

 Mr. Zysman holds a Bachelor of Business Administration degree in Accounting from Hofstra University and a Master of Science degree in Real Estate Development from Columbia University. 

Ken Fazio
 Prior to joining Arbor, Mr. Levine was an Assistant Vice President at Hudson Housing Capital, where he served as lead underwriter for low income housing tax credit (LIHTC) equity investments in affordable housing properties across the country.

 Mr. Levine has more than 13 years of commercial real estate experience as an underwriter and a consultant and holds a Bachelor of Arts degree in Economics from the University of California at San Diego. 

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

Christopher Ostrowski

Wyndham Hotel Group Brings Joy to Children at Avera St. Luke’s Hospital in Aberdeen, SD

Avera St. Luke's Hospital, Aberdeen, SD

ABERDEEN, SD– Children undergoing treatment in the Pediatric Unit at Avera St. Luke’s Hospital in Aberdeen, S.D. will be smiling brighter and laughing a little more thanks to a multi-media Fun Center™ sponsored through an association among Wyndham Hotel Group, Avera St. Luke’s and Starlight Children’s Foundation.

Presented by Wyndham Hotel Group, the Starlight Fun Center is a mobile entertainment unit containing the latest gaming system that rolls bedside in hospitals to provide entertainment and therapeutic play for pediatric patients.

“Wyndham Hotel Group is thrilled to provide joy to the kids at Avera St. Luke’s when they need it most,” said Sue Haaland, senior director of the Aberdeen Hotel Operations Center for Wyndham Hotel Group.

 “We are always looking to give back to the communities where we are present and through our association with Starlight Children’s Foundation, we are doing just that for the kids here at Avera.”

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

Gabriella Chiera
Marketing Communications Specialist
Wyndham Hotel Group
+1 (973) 753-6590

Alison Sadock
Starlight Children’s Foundation
(424) 245-3660

McCarthy Building Companies Reaches Construction Midpoint on New Design-Build Parking Structure for Hyundai Motor America in Fountain Valley, CA

                $15.9 million design-build parking structure for Hyundai Motor America, Inc.
                                                       Fountain Valley, CA
Fountain Valley, CA –McCarthy Building Companies, Inc., one of Southern California’s preeminent parking structure builders, has reached the halfway mark in the construction of a new $15.9 million design-build parking structure for Hyundai Motor America, Inc. 

Located adjacent to the San Diego Freeway on Talbert Avenue in Fountain Valley, Calif., the project is being built approximately 100 yards from Hyundai Motor America’s new $150 million North American Corporate Campus, which is also currently under construction.

“Considering the limited site availability and the desired efficiency in land use and operations, the new parking structure is being built to serve our new North American Corporate Campus which will house key operations that require a large amount of personnel and its inherent amenities for Hyundai Motor’s operations within the U.S.,” said Harry Kim, Senior Manager for Hyundai AMCO America, Inc.

“Our project required a strong parking structure team, allowing us to concentrate on construction of our new office building.  McCarthy’s design-build expertise, ability to self-perform the concrete work and commitment in meeting the fast-track schedule has been instrumental in meeting this need.”

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                           

EagleBridge Capital Arranges $10,075,000 Mortgage for One United Drive in West Bridgewater, MA

                     One United Drive, West Bridgewater, MA

Boston, MA -- EagleBridge Capital, working exclusively on behalf of its client, has arranged permanent mortgage financing in the amount of $10,075,000 for One United Drive located in West Bridgewater, Massachusetts. 

Brian Sheehan
The mortgage financing was arranged by EagleBridge principals Brian Sheehan and Ted Sidel who stated that the loan was provided by a leading Massachusetts based financial institution.

One United Drive is a 315,000 square foot, manufacturing/distribution building comprised of 30,000 square feet of office space and 285,000 square feet of manufacturing and distribution space on a 29.86 acre site.

Clear heights in the manufacturing /distribution portion of the building range from 22’ to 25’.  There are 40 loading docks.  Parking is available for 327 vehicles.  The building was originally developed by Campanelli Companies in 1987 for United Liquors.

Ted Sidel
Major tenants include Cheer Pack North America which occupies 187,500 square feet and Federal Express which occupies 88,500 square feet.  Cheer Pack North America is a leading developer and manufacturer of proprietary spouted pouch packaging for the food and beverage industry. 

One United Drive serves a regional distribution center for FedEx Ground.

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging  debt and equity financing as well as joint ventures for industrial, office, and r & d buildings,  shopping centers, apartments, hotels, condominiums and mixed use properties as well as special purpose buildings.

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

Stanley J. Sidel
Senior Advisor
EagleBridge Capital
33 Broad Street
Boston, MA 02109
Tel: 617-292-7177 Ext. 14