Wednesday, July 17, 2013

Pre-Leasing Begins for Vesta Lofts in Chicago’s South Loop

Vesta Lofts, South Loop, Chicago, IL

CHICAGO,IL,  July 17, 2013 – Luxury Living Chicago Realty announced it has begun pre-leasing at Vesta Lofts, a 59-unit apartment building located at 125 East 21st Street in Chicago. Vesta Lofts is a historic revitalization development by JK Equities.

Aaron Galvin
Located in the Motor Row Historic District in Chicago’s South Loop neighborhood, Vesta Lofts is just one block from the proposed DePaul Arena near McCormick Place. Built in 1913, and originally home to the Vesta Accumulator Company, the building was recently named to the National Register of Historic Places.

 “There have been thousands of new apartments delivered in the last year, but the vast majority are larger luxury developments with a focus on high-end amenities. The focus with Vesta Lofts was on the living space inside the apartments, delivering high-end comfort while retaining the building’s historical character,” said Aaron Galvin, owner and managing broker of Luxury Living Chicago Realty, the exclusive leasing brokerage for Vesta Lofts.

One-bedroom, one-bath apartments range from $1,400 to $1,700 for 671 to 796 square feet. Two-bedroom, two-bath units are priced from $2,000 to $2,500 for 987 to 1,175 square feet. There are also a few studios and a unique three-bedroom apartment available for rent.

McCormick Place, Chicago
.Two professionally designed models are available for viewing at the Vesta Lofts leasing center, located at 125 East 21st Street in Chicago. Occupancy is slated for late summer.

For more information, or to schedule a showing, call 312.548.1395, email, or visit the website at and Facebook page at

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

Kim Manning,

Essex Realty Group Brokers Sale Of Mixed-Use Commercial property in Chicago, IL

2200 West Lawrence Avenue
Lincoln Square Neighborhood
Chicago, IL

Doug Fisher
CHICAGO, IL,  July 17, 2013 - Essex Realty Group, Inc. is pleased to announce the sale of 2200 W. Lawrence Avenue, a mixed-use commercial property located in Chicago’s Lincoln Square neighborhood.

 The property is situated on the northwest corner of Lawrence Avenue and Leavitt street, and is conveniently located within walking distance of both the Western and Damen CTA brown line stations as well as the Ravenswood Metra station.

Matt Welke
The property consists of 12,500 Net rentable square feet and was completely vacant at the time of sale.

Doug Fisher and Matt Welke of Essex represented the seller and Jim Darrow and Jordan Gottlieb of Essex represented the buyer in the transaction.   The price was approximately $1,400,000.

James Darrow
 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 Fisher
Essex Realty Group, Inc.

$4.170 million multifamily property sold in Tampa, FL by Marcus & Millichap

Green Oaks Apartments, 3801 West Tyson Avenue
Tampa, FL

Frank Carriera
TAMPA, FL, July 17, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Green Oaks, a 100-unit multifamily property located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The $4,170,000 sales price equates to $41,700 per unit.

Francesco “Frank” Carriera and Michael Regan, vice president investments in Marcus & Millichap’s Tampa office represented both the seller and the buyer, private investors based in Florida.

Michael P. Regan
Green Oaks was built in 1983 and is located at 3801 West Tyson Avenue.  The property consists of eight, two-story buildings on six separate parcels, totaling approximately 2.83 acres. 

The buildings are comprised of one- and two-bedroom units.  Amenities include two on-site laundry facilities and ample parking.  Roofs were replaced in 2012 and 70 percent of the units were remodeled in 2012.

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

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

Marcus & Millichap Names Ryan Nee Regional Manager of New Jersey Office

Ryan Nee
ELMWOOD PARK, N.J., July 17, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Ryan Nee regional manager of its New Jersey office, according to John J. Kerin, president and chief executive officer.

“Ryan’s extensive commercial real estate knowledge and experience as a sales manager in our Fort Lauderdale and New York offices make him an excellent resource for our agents and clients in New Jersey,” says Kerin. “He will be instrumental in expanding our national market-making capabilities to clients throughout the state.”

Nee began his career with Marcus & Millichap as a sales intern in February 2007. He became an agent in October 2007 and was promoted to senior associate in December 2010.

John J. Kerin
Nee was named sales manager of Marcus & Millichap’s Fort Lauderdale office in October 2011 and transferred to the Manhattan office to become sales manager there in 2012.  His product specialty is office and industrial investment properties.

Nee has a bachelor’s degree in finance from the University of Florida.
For a complete copy of the company’s news release, please contact:

Gina Relva
Public Relations Manager

(925) 953-1716

HFF arranges $5 million financing for San Bruno, CA Office Park south of San Francisco

                       San Bruno Office Park, San Bruno, CA

LOS ANGELES – HFF announced today that it has arranged $5 million in financing for San Bruno Office Park, a 54,945-square-foot office property in San Bruno, California.

Paul Brindley
HFF worked on behalf of the borrower, an entity controlled by ATC Partners, LLC, to secure the seven-year, 3.93 percent, fixed-rate senior loan through Chase Commercial Term Lending.  Proceeds were used to refinance existing debt on the property.

San Bruno Office Park consists of two, two-story buildings that are 96 percent leased to a diverse mixture of more than 40 tenants.  The property is situated near the San Bruno BART terminal, within a mile of Interstates 280 and 380, and two miles from Highway 101 approximately 12 miles south of downtown San Francisco.

The HFF team representing the borrower was led by senior managing director Paul Brindley and real estate analysts Jeff Sause and Benjamin Gallant.

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 |

HFF closes sale of Class A multi-housing community in Odenton, MD

The Haven at Odenton Gateway Apartments
Odenton, MD

David Nachison
WASHINGTON, D.C. – HFF announced today that it has closed the sale of The Haven at Odenton Gateway, a 252-unit, Class A, garden-style multi-housing community in Odenton, Maryland.

HFF marketed the property on behalf of the seller, Johnson Development Associates, Inc.  AEW Capital Management, LP purchased the asset free and clear of existing debt on the property.

The Haven at Odenton Gateway is located 615 Carlton Otto Lane providing immediate access to Fort Meade as well as major commuter arteries in the Baltimore-Washington Corridor including Maryland Route 32, Interstate 95, Interstate 97 and the Baltimore-Washington Parkway. 

Alan Davis
Completed in 2012, the property includes one-, two- and three-bedroom units averaging 1,031 square feet each. 

Community amenities include a resort-style saltwater pool, poolside cabana equipped with fireplace and big-screen television, fitness center, private theatre room, conference room, clubhouse with coffee bar and gourmet kitchen, dog run and car care center.

                The HFF team representing the seller was led by senior managing directors David Nachison and Alan Davis and director Brenden Flood.

Brenden Flood
“The recent large-scale relocation effort by the Department of Defense to Fort Meade, which is less than a 10 minute drive from the property, will only help to further ensure the long-term success of this well-located, luxury community solidifying the strength of this investment,” commented Davis.

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 |

Statement of David Stevens on Confirmation of Richard Cordray as CFPB Director

Richard Cordray

 Washington, D.C. (July 17, 2013) – David H. Stevens, President and CEO of the Mortgage Bankers Association (MBA), today issued the following statement in response to the United States Senate’s confirmation of Richard Cordray to be Director of the Consumer Financial Protection Bureau (CFPB):

“MBA congratulates Richard Cordray on his confirmation to be Director of the CFPB. He has been in this position for the last year and a half, and is deserving of this confirmation. We look forward to continuing to work with the Director on the important issues facing consumers as they access the housing finance market.

“The CFPB is an important agency that was created to protect consumers across the United States.

“ Given the reach and influence this agency has on both businesses and consumers, it is important that we have stability and consistency in its highest ranks.

David H. Stevens
“Under Richard Cordray’s leadership, we have found the CFPB to be transparent and willing to listen to our concerns.

“We have not always agreed on the final outcome of CFPB rulemakings, and there remain a number of items related to the mortgage process that we will be working to address, but we are confident that we can make progress toward finding solutions regarding these issues.”

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

Rob Van Raaphorst
(202) 557-2799

Meta Housing Corp. Completes $70 Million, Arts-Focused Senior Apartment Community in Long Beach, CA

Long Beach Senior Arts Colony, Long Beach, CA

LONG BEACH, CA(July 17, 2013) – Meta Housing Corporation has announced the completion of the $70 million Long Beach Senior Arts Colony, a new, 200-unit, transit-oriented, affordable multifamily community for seniors aged 55+. 

John Huskey
The community, which is designed to deliver a completely artistic environment, has already been recognized as “Best Senior Housing Community of 2013” by PCBC’s Golden Nugget Awards, according to John Huskey, President of Meta Housing Corporation.

“Development of today’s senior housing requires a completely different approach than that of generations past,” explained Huskey. “Americans are living longer, healthier lives, and are in need of housing that will provide new opportunities to increase longevity and sustain good health.”

Huskey explains that the senior art colony concept that Meta Housing Corporation has pioneered is designed to deliver these benefits.  The company has also developed the Burbank Senior Artists Colony, a 141-unit multifamily property completed in 2006, as well as the North Hollywood Senior Arts Colony, a 126-unit apartment community completed in late 2012.

Burbank Senior Artists Colony
Burbank, CA
“Drawing upon national research on how the arts can positively impact the health of older individuals, we have designed each of our arts-focused senior apartment communities to include spaces where residents can participate in free, professional-level arts activities on an ongoing basis,” explained Huskey. 

The new Long Beach Senior Arts Colony features a host of on-site arts amenities, including an art gallery, 99-seat performance theatre, working arts and dance studios, as well as a digital media room and grand piano salon.  On-site arts classes are offered at no cost to residents, and are conducted by Meta Housing Corporation’s long time nonprofit partner, EngAGE.

North Hollywood, CA Senior Arts Colony
“The entire community is structured to encourage engagement and interaction, which contributes to a better overall quality of life for residents,” said Huskey. 

In addition to its arts-focused amenities, the property provides over 15,000 square feet of community space, including a fitness room, yoga/meditation room, computer room, game room, dog park, community gardens, outdoor spa, and outdoor BBQ and seating area with a fireplace.
For a complete copy of the company’s news release, please contact:
Corynne Randel/ Jenn Quader
Brower, Miller & Cole
(949) 955-7940


Arbor Appoints Jack Boudler as Vice President, Seniors Housing and Healthcare Origination

Jack Boudler
UNIONDALE, NY (July 17, 2013) – Arbor Commercial Mortgage, LLC (“Arbor”) today announced the appointment of Jack Boudler as Vice President, Seniors Housing and Healthcare Origination.

Mr. Boudler is responsible for originating loans nationwide utilizing all of Arbor’s product lines, including FHA, Fannie Mae, CMBS, Bridge, Mezzanine and Preferred Equity. He is based in the company’s Cleveland, OH, office and reports to Joseph Donovan, Senior Vice President, Director of FHA Lending.

Mr. Boudler has focused on seniors housing and healthcare finance for most of his 26 year career in finance and mortgage banking.

Joseph Donovan
 Before joining Arbor, he was a permanent loan originator and Senior Vice President/Senior Banker with KeyBank Real Estate Capital for more than 18 years and was responsible for sourcing and originating healthcare and seniors housing loans. Prior to KeyBank, he held various positions at BB&T Corporation over eight years, including Vice President of Commercial Banking.

 Mr. Boudler earned a Bachelor’s degree from Hillsdale College and a Master of Business Administration degree from Wake Forest University.

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

 Christopher Ostrowski,

Chatham Lodging Announces Second Quarter Earnings Call

Jeffrey H. Fisher

 PALM BEACH, FL - Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on upscale extended-stay hotels and premium-branded select-service hotels, today announced that it will report second quarter 2013 financial results on Monday, August 5, 2013, following the close of the market.

 On Tuesday, August 6, 2013, at 11:00 a.m. ET, Jeffrey H. Fisher, Chatham’s chief executive officer, and Dennis M. Craven, its chief financial officer, will host a conference call to review second quarter 2013 financial results.

Shareholders and other interested parties may listen to a simultaneous webcast of the conference call on the Internet by logging onto Chatham’s Web site,, or, or may participate in the conference call by dialing 1-877-941-8631, reference number 4630897.

Dennis M. Craven
 A recording of the call will be available by telephone until midnight on Tuesday, August 13, 2013, by dialing 1-800-406-7325, reference number 4630897.  A replay of the conference call will be posted on Chatham’s website.

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

 Jerry Daly                                                             
Daly Gray Public Relations                                  
(703) 435-6293                                                  

 Dennis Craven
Chief Financial Officer

  (561) 227-1386               

FrontDoor Communities’ Michael Phillips Chosen for ULI Center for Leadership

Terry Russell
ATLANTA, GA (July 17, 2013) -- FrontDoor Communities announced today that Michael Phillips, FrontDoor marketing manager, has been chosen to participate in the Urban Land Institute’s Center for Leadership. The nine-month program provides resources and skills for emerging leaders in the Atlanta real estate and land use industries.

“This honor demonstrates that Michael is a rising star in our industry,” said Terry Russell, CEO and partner of FrontDoor. “The prestigious Center for Leadership is an important and valuable resource in the real estate community, and we are excited that Michael will participate in this way. He no doubt will be an asset to the group and also learn a great deal.”

Phillips has served as FrontDoor’s marketing manager for nearly one year. Prior to his current position, Phillips was marketing specialist at tvsdesign. He also was architect and project manager at Gerding Collaborative from 2005 to 2012.

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

Michael Phillips