Thursday, September 12, 2013

HFF named to market for sale luxury multi-housing community in Chicago’s Lincoln Park neighborhood

CHICAGO, IL – HFF announced today that it has been named to market for sale The Belden-Stratford, a 297-unit, luxury multi-housing community in Chicago’s Lincoln Park neighborhood.

Sean Fogarty
               HFF is marketing the property without a formal asking price and the property is being offered on an “All Cash” basis. 

               The Belden-Stratford is one of the premier apartment properties in Chicago and is located at 2300 Lincoln Park West, a few blocks from Lake Shore Drive and Lake Michigan, and across the street from Lincoln Park, which contains the Lincoln Park Zoo, Lincoln Park Conservatory and numerous other cultural and recreational sites. 

Additionally, the community is near the CTA Red/Brown/Purple Fullerton train stop.   Originally built in 1923 in a Beaux Arts style décor, the property features studio, one- and two-bedroom units averaging 636 square feet each.

Matthew Lawton
  The 15-story property offers residents a fitness center, rooftop sundeck with spectacular views of Lake Michigan and downtown Chicago, full-service dry cleaner and valet parking. 

  The Belden-Stratford also has 19,223 square feet of retail space occupied by several tenants including popular restaurants Mon Ami Gabi and L20.

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

“The Belden-Stratford is an iconic and irreplaceable asset in one Chicago’s finest locations,” said Fogarty. 

Marty O'Connell
“Strong demographics, top cultural and entertainment attractions, and very solid market fundamentals have led to robust demand for Lincoln Park communities, indicated by a remarkable average vacancy rate of 2.3 percent since 1995,” added Lawton. 

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 |

NAI Realvest Negotiates New Lease of 12,000-Square-Foot Industrial Building at Heritage Center in Lakeland, FL

Heritage Center, 2250 Commerce Park Drive, Lakeland, FL

Christie Alexander
ORLANDO, FL-- NAI Realvest recently negotiated a new industrial lease agreement for the 12,000 square foot industrial building at 2250 Commerce Park Drive in Lakeland. 

 NAI Realvest associates Drew Saphos, CCIM and Paul Vera along with principals Christie Alexander and George Livingston, chairman at the firm, negotiated the agreement representing the Ft. Lauderdale-based landlord, Heartwood 43, LLC.

George Livingston
 The tenant, Finish Master Inc., based in Indianapolis, is an independent national distributor of automotive paints, coatings and accessories.  David Tower of Sperry Van Ness represented the tenant in the transaction.

 The new location includes 800 square feet of office space and is part of the Heritage Center that fronts on U.S. Highway 98.

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

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142

NAI Realvest Negotiates Office Building Sale in Winter Park, FL

660 Shoreview Avenue, Winter Park, FL

Emily Zinaich
ORLANDO, FL – NAI Realvest recently negotiated the sale of a 2,058 square foot office building located at 660 Shoreview Ave. in Winter Park for $300,000.

 Tom R. Kelley, II, CCIM, principal at NAI Realvest and associate Chris Adams negotiated the sale representing the seller Norma M. Raffo.  The buyer, OETAM LLC was represented in the transaction by Emily Zinaich of Morrison Commercial Real Estate..

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

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142

Stirling Sotheby’s International Realty Negotiates $395,000 Sale of 24 Home Sites at the Reserve at Hidden Lake in Sanford, FL

Lake Mary, FL --- Stirling Sotheby’s International Realty recently negotiated the sale of 24 town home sites at the Reserve at Hidden Lake in Sanford for $395,000.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said commercial specialist John Kurtz negotiated the sale representing buyer D.R. Horton, Inc.

John Kurtz
Atlantic Development Corporation was the seller.

“There are very few ready-to-go builder lots left in Seminole County and we think D.R. Horton will do very well in this location,” Kurtz said.

Kurtz is currently marketing a variety of builder/developer projects across Central Florida priced from $300,000 to $15 million.

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

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142

NAI Realvest Negotiates Sale of 1.48 Acre Retail Lot in Oviedo, FL for $650,000

Former site of Oviedo Auto Sales, 139 North Central Avenue, Oviedo, FL

George Viele
ORLANDO, Fla. – NAI Realvest recently negotiated the $650,000 sale of 1.48 acres, the former site of Oviedo Auto Sales, at 139 N. Central Ave. in Oviedo. 

George Viele, associate at NAI Realvest, brokered the transaction representing the sellers, John Grago, Jr. and Lalon Grago of Winter Springs.

 The buyer is Townhouse Restaurant of Oviedo.      

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

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142

Griffin-American Healthcare REIT II Completes $472.2 Million Acquisition of 44-Facility UK Senior Housing Portfolio

Senior housing file photo.
This property is not associated with
the UK Senior Housing Portfolio described below.

NEWPORT BEACH, CA (Sept. 12, 2013) – Griffin-American Healthcare REIT II, Inc. announced today that it has completed the acquisition of a 44-facility portfolio of premium senior housing and care facilities located in England, Scotland and the Channel Island of Jersey from Myriad Healthcare Limited for £298.5 million (approximately $472.2 million). 

Jeff Hanson
 The majority of the portfolio, known as the UK Senior Housing Portfolio, is concentrated in England’s affluent South East region, primarily in the Home Counties around Greater London, with additional locations near Birmingham, Bristol and Oxford.

 The Scottish component of the portfolio is comprised of six facilities located in affluent areas north of Edinburgh, while two facilities are located in Jersey.  

Approximately 52 percent of the portfolio’s year-end 2012 revenue was derived from private pay residents, significantly higher than the UK national average of 32 percent, according to statistics provided by the London School of Economics’ Personal Social Services Research Unit. 

Paul A. Jeffrey
“With the completion of this acquisition, Griffin-American Healthcare REIT II has added a significant international presence to our already extensive national footprint,” said Jeff Hanson, chairman and chief executive officer. 

  “Griffin-American Healthcare REIT II is now one of the best diversified healthcare REITs in the country in terms of geography, revenue sources and asset types with a portfolio valued at approximately $2.1 billion, based on aggregate acquisition price.”

 Under the terms of the transaction agreements, the UK portfolio is leased to Myriad Healthcare Limited, operating as Caring Homes, under 35-year absolute net leases with annual rent escalations.  Myriad Healthcare Limited, an unaffiliated third party, was represented by Tim Edghill, Joe Guilfoyle and John Gladstone of Jones Lang LaSalle.

 Paul Jeffery, CEO of Myriad Healthcare Limited, said: “This is a transformational event for our company with a partner as committed to growth in the private pay market as we are.  We have built our success by providing high-quality care for elderly residents in the UK in first-rate facilities and locations.  This partnership allows us to continue to execute this strategy and expand our footprint in the UK’s growing private pay elderly care sector.”

Danny Prosky
“This investment partners Griffin-American Healthcare REIT II with one of the UK’s leading operators of senior care communities and broadens our investment strategy internationally,” said Danny Prosky, president and chief operating officer of the REIT. 

  “Similar to that of the United States, the population of the United Kingdom is rapidly aging, creating greater demand for senior care.  We are pleased to partner with one of the UK’s premier operators in the field and to further expand our portfolio in this attractive sector and market.”

 The UK Senior Housing Portfolio adds approximately 962,000 square feet and 2,550 beds to the portfolio of Griffin-American Healthcare REIT II, which currently totals 223 buildings acquired for approximately $2.1 billion, diversified across 28 states, the United Kingdom and all four clinical asset classes: medical office buildings, skilled nursing facilities, hospitals and senior housing.
Since Jan. 1, 2012, the portfolio has grown by more than 378 percent, based on purchase price. As of June 30, 2013, the Griffin-American Healthcare REIT II property portfolio was 96 percent leased with a weighted average remaining lease term of 8.7 years and leverage (total debt divided by total assets) of 17.6 percent.

Griffin-American Healthcare REIT II financed the acquisition using cash on hand.

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

Damon Elder                                                                                        
(949) 270-9207

HFF hires Southern California industrial investment sales team


IRVINE, CA – HFF announced today that the investment sales team of Brett Tremaine and Ryan Martin has joined the firm’s Orange County office and Anthony J. Brent has joined the firm’s Los Angeles office.  The team will focus on industrial capital markets transactions primarily in the western United States.

Anthony J. Brent
               The team has an average of 20 years of experience across brokerage, advisory and operations, and most recently were founders of BlackRidge Real Estate Group.  Previous roles include positions at Cushman and Wakefield, Lee & Associates, Panattoni Development Company, LLC and Majestic Realty Co. 

               Brett Tremaine, who joins HFF as a senior managing director in its Orange County office, has more than 26 years of experience spanning the industry from his experience as a top intermediary to national development roles throughout North America.  

Brent Tremaine
He specializes in investment sales, land development transactions and equity placement throughout the primary markets of the western United States.  During the course of his career, he has closed more than $2.3 billion in transactions.  Brett is a Certified Commercial Investment Member and holds a Bachelor of Science degree from Pepperdine University.

               Anthony J. Brent joins HFF as a senior managing director in its Los Angeles office and has more than 25 years of advisory experience in Southern California industrial properties. 

 Anthony was one of the initial shareholders of Lee & Associates San Gabriel Valley and Los Angeles offices where he was recognized for successfully transacting large building and land transactions throughout the Los Angeles, San Gabriel Valley and Inland Empire markets in excess of $2.0 billion. 

Ryan Martin
 Prior to BlackRidge, he also operated a private real estate fund that acquired real estate opportunities and provided capital to developers.  He is a Certified Commercial Investment Member and attended the University of Arizona.

               Ryan Martin joins HFF as a managing director with more than 16 years of development, investment and brokerage advisory experience.  Ryan has invested, developed, represented and managed more than 12 million square feet of real estate transactions throughout the United States.  

Prior to founding BlackRidge, Ryan was a development partner with Majestic Realty Co. and began his career as an industrial advisor with Cushman & Wakefield.  He holds a bachelor’s degree in Building Construction Management from Michigan State University.

Tom Simmons
               In addition, Tom Simmons has joined the firm’s Orange County office from BlackRidge.  Tom, an associate director/analyst for the group, has more than 11 years of experience in transaction and asset management along with financial and investment analysis.  

He has managed various platforms of capital over multiple acquisition and development opportunities both during his time with BlackRidge and also other private operators.  Tom holds a Masters of Business Administration from Chapman University and a bachelor’s degree from the University of California, Santa Barbara.

“HFF continues to strategically grow its West Coast investment sales team with a goal of purposefully building-out the full platform of services and property specializations in each location,” said Kevin Mackenzie, senior managing director and co-head of HFF’s Orange County and Los Angeles offices.  

Kevin Mackenzie
“The team’s unique personal backgrounds and experience in the industrial markets from advisory, development, acquisition and capital markets transactions is highly regarded in the industrial space.  HFF is very excited to have them on board as a key component to the national investment sales platform.”
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 |

Passco Companies to Transform The Promenade at Howard Hughes Center into Entertainment and Restaurant Destination at Los Angeles' Westside District

                           The Promeande at Howard Hughes Center, 6081 Center Drive
                                              Westside Destrict, Los Angeles, CA.

LOS ANGELES, CA (Sept. 12, 2013) – Passco Companies, LLC., a privately held Calif.-based real estate company that specializes in the investment, acquisition, development and management of commercial properties throughout the U.S., has announced the repositioning of The Promenade at Howard Hughes Center into a comprehensive entertainment destination, according to Howard Wong, Director of Leasing at Passco Companies.

The retail center is located within the rapidly growing “Silicon Beach” area of Los Angeles’ Westside.   
The Promenade at Howard Hughes Center is located at 6081 Center Drive,

“The business and residential submarkets surrounding The Promenade at Howard Hughes Center have undergone a massive demographic transformation over the past five years, bringing in creative professionals involved in the entertainment, creative tech, and gaming industries,” Wong notes.

“Our decision to reposition The Promenade at Howard Hughes Center was a response to the increased demand for unique dining and entertainment options within this urban market.” he adds.

According to Wong, this demand is the result of a number of factors, including the area’s dense residential housing market; the influx in creative entertainment companies relocating to the area; an increase in on-campus student housing at local universities; and an increase in tourist and business travelers in nearby hotels.

Wong notes that an increasing number of creative entertainment and tech companies are securing office space in this area. In addition, residential development continues in neighboring Playa Vista, as well as within the Howard Hughes Center itself.

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

Corynne Randel / Jenn Quader
Brower, Miller & Cole
(949) 955-7940


Lincoln Closes Sale of 16,740-SF Office/Warehouse Complex in Suwanee, GA

390 Brogdon Road, Suwanee, GA

Denton Shamburger
ATLANTA, GA– Lincoln Property Company Southeast (Lincoln) has closed the sale of 390 Brogdon Road, a two-building office/warehouse complex totaling 16,740 square feet in Suwanee, Ga.

Lincoln was the court-appointed receiver for the property, and Denton Shamburger, vice president of industrial leasing at the firm, closed the sale at a purchase price of $825,000 on behalf of the owner and lender. Residential home builder Home South Communities purchased the property.

 The nearly 4-acre complex, built in 2000, consists of a 9,000-square-foot warehouse and a 7,740-square-foot office building. The warehouse includes private offices, two docks and oversized roll-up doors. The office building includes multiple conference rooms, a break room and large work areas in addition to private offices.

Tony Bartlett
 “The industrial real estate market in Atlanta continues to improve, and we encountered a significant level of interest in this property,” said Tony Bartlett, senior vice president for Lincoln who oversees the firm’s Atlanta office. 

“Furthermore, the residential home market is making a strong recovery in the metro area, and this property will serve Home South well as construction ramps up in and around the city.”

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

Stephen Ursery
The Wilbert Group

Capital Square Realty Advisors Acquires Bridgeview Apartments in Tampa, FL

Bridgeview Apartments, Tampa, FL

TAMPA, FL (Sept. 12, 2013) – Capital Square Realty Advisors LLC announced today that an affiliate of the company has acquired Bridgeview Apartments, a 348-unit, Class A garden-style multifamily community in Tampa, Florida. 

Louis Rogers
Bridgeview consists of 17 wood-framed and stucco residential buildings ranging between two and three stories and features a clubhouse with a new business center, resort-style pool, playground, fitness center and tennis and racquetball courts. 

The property is nestled within a serene two-acre park-like setting with three onsite lakes, strategically located in a prime infill location within Tampa’s thriving metropolitan statistical area.

“Bridgeview Apartments is a stable multifamily community in a desirable neighborhood in Tampa,” said Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors. 

“Residents enjoy a premium amenity package and the community is ideally located for business professionals, with easy access to nearby Tampa International Airport and Greater Tampa via the Veterans Expressway.”

Yogi Singh
Yogi Singh, vice president of acquisitions and business development for Capital Square, said, “This acquisition demonstrates Capital Square’s ability to source and acquire institutional-quality assets on behalf of a national investor base. 

"Capital Square’s acquisitions team and external mortgage banking team led by Adam Levinson, managing director at BGC Capital Partners, worked tirelessly to complete the transaction in a professional and efficient manner.”

Tampa is the third most populous city in the state of Florida and the seat of Hillsborough County. Service, retail, finance, insurance, shipping, national defense, professional sports, tourism, and real estate all play a vital role in the area's economy. 

Hillsborough County alone has an estimated 740,000 employees, a figure which is projected to increase to 922,000 by 2015.  Several Fortune 1000 companies are headquartered in the metropolitan area, including OSI Restaurant Partners, WellCare Health Plans, Inc., TECO Energy, and Raymond James Financial.
For a complete copy of the company’s news release, please contact:

Julie Leber
Spotlight Marketing Communications                    
949.427.5172, ext. 703 – office                                   
509.338.5676 – cell                                                           

Trump SoHo® New York Unveils Exclusive Trump’s Perfect Pairing with Trump Winery in Charlottesville, VA

Model admires ripe Trump Winery site, Charlottesville, VA

NEW YORK (September 12, 2013) – Trump SoHo® New York, the first Trump Hotel Collection property in downtown Manhattan and the neighborhood’s only AAA Five Diamond rated hotel, is pleased to debut an exclusive package with the award-winning Trump Winery

Andreas Oberoi
Appealing to oenophiles and novices alike, Trump’s Perfect Pairing includes one night in a luxurious one-bedroom suite, three bottles of Trump Wines – Chardonnay, Simply Red, and Rosé, and a deluxe cheese plate to pair with the varietals.  Trump’s Perfect Pairing is available for immediate booking and travel.

 “We’re elated to partner with Trump Winery, which was recently honored with two gold medals at the San Francisco International Wine Competition, on an exclusive offering for our guests,” said Andreas Oberoi, general manager. 

Eric Trump
 “At Trump SoHo, we strive to provide travelers with special access to unique and refined experiences that enrich their stays, and Trump’s Perfect Pairing is no exception.”

 Helmed by Eric Trump, Trump Winery is situated in the heart of the Monticello Wine Trail in Charlottesville, Virginia on more than 1,300 acres of breathtaking land with nearly 200 acres of vines, making it the state’s largest vineyard. 

Thomas Jefferson's Monticello home
Charlottesville, VA
Located just a few miles from Thomas Jefferson’s Monticello, Trump Winery follows in the founding father’s footsteps by making new world wines inspired by the French wine regions of Bordeaux and Champagne. 

  Trump Winery’s red vineyards are planted in traditional Bordeaux varietals, including Merlot, Cabernet Franc, Petite Verdot, Cabernet Sauvignon, and Malbec; the sparkling vineyards are planted in Chardonnay, Pinot Noir, and Pinot Meunier because of their unique microclimates.
For a complete copy of the company’s news release, please contact:

Hwee Peng Yeo
Director of Asian Markets
Glodow Nead Communications
Level 21, Centennial Tower
3 Temasek Avenue
Singapore 039190

Rising Interest Rates Reshaping Net-Leased Market, Reports Marcus & Millichap

WALNUT CREEK, CA --Most stand-alone retailers are focused on driving retail sales within current footprints rather than pursuing rapid expansion, though some major chains continue to evaluate new locations in areas where shuttered competitors have created opportunities.

Drugstores, grocers and Target are at the forefront of pursuing higher same-store sales by attempting to carve out a share of the future revenue associated with the Affordable Care Act.

CVS, Target and Walgreens are opening clinics in existing stores, while Wal-Mart, which had announced plans for 2,000 clinics, has struggled to gain traction. 

Nonetheless, the world’s largest retailer will eventually become a factor in the healthcare clinic industry, though competitors are better positioned at this point. Outside of healthcare, a resurgent housing market is generating support for a wide swath of retailers.

Building supply heavyweights Lowe’s and Home Depot, in particular, have benefited from a surge in home sales. The housing market is being pushed forward primarily by investors, who are more likely to utilize the warehouse stores.

 In recent months, fi rst-time home buyers accounted for less than 30 percent of sales, down from the long-term average of 40 percent, while all-cash transactions approached 40 percent, up from a long-term average of 10 percent.

Investment in net-leased properties may step back from the brisk pace set over the past two years as rising interest rates

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

Gina Relva
 Public Relations Manager
 Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
 (925) 953-1700 ext. 1716
(510) 999-1284 mobile
(925) 953-1710 fax

Foreclosure Starts Drop 43 Percent in Florida, Jump 226 Percent in Nevada; Bank Repos Increase Monthly in 26 States, Reach Nearly Three-Year Highs in New York and New Jersey

IRVINE, CA, Sept. 12, 2013 — RealtyTrac® (, the nation’s leading source for comprehensive housing data, today released its U.S. Foreclosure Market Report™ for August 2013, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 128,560 U.S. properties in August, a decrease of 2 percent from the previous month and down 34 percent from August 2012 — the 35th consecutive month where foreclosure activity has decreased on an annual basis.
Daren Blomquist

 The report also shows one in every 1,019 U.S. housing units with a foreclosure filing during the month.

High-level findings from the report:

·           The decrease in overall foreclosure activity was driven largely by falling foreclosure starts in August. A total of 55,775 U.S. properties started the foreclosure process during the month, down 44 percent from a year ago to the lowest level since December 2005.

·           Foreclosure starts in August decreased from a year ago in 38 states, including both non-judicial states such as Colorado (down 80 percent), Arizona (down 65 percent), Washington (down 65 percent), California (down 57 percent), and Michigan (down 55 percent), and also judicial states such as Illinois (down 66 percent), Massachusetts (down 66 percent), Florida (down 65 percent), Indiana (down 43 percent), and Wisconsin (down 39 percent).

·           Foreclosure starts did increase from the previous month in 17 states, including Nevada (up 226 percent), Ohio (up 44 percent), Maryland (up 24 percent), California (up 12 percent), and New York (up 8 percent).

·           Bank repossessions (REO) in August increased 6 percent from the previous month but were still down 25 percent from a year ago. REO activity nationwide has increased on a month-to-month basis in three of the last four months, reaching a five-month high in August.

·           REO activity increased from the previous month in 26 states and was up from a year ago in 23 states, including New York (up 123 percent to a 34-month high), New Jersey (up 63 percent to a 31-month high), Florida (up 48 percent to a seven-month high), Ohio (up 46 percent to an eight-month high), and Indiana (up 41 percent to a 9-month high).

·           Nevada’s foreclosure rate ranked highest nationwide, supplanting Florida at the No. 1 spot. Florida’s foreclosure rate fell to second highest, followed by Ohio, Maryland and Delaware.

·           Florida cities accounted for six of the 10 highest metropolitan foreclosure rates, down from nine of the top 10 in the previous month. Also in the top 10 metro foreclosure rates were Las Vegas and three Ohio cities: Toledo, Cleveland and Akron.

“The foreclosure floodwaters have receded in most parts of the country, but lenders and communities continue to clean up the damage left behind, which means the recent uptick in bank repossessions is a trend that will likely continue into next year,” said Daren Blomquist, vice president at RealtyTrac.

 “Meanwhile foreclosure flash floods will continue to hit some markets over the next few months as delayed foreclosure starts are quickly pushed into the pipeline. This was the case with the jump in Nevada foreclosure starts in August.”

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: