Monday, December 16, 2013

Berger Commercial Realty Brokers Negotiate Two Leases at Vista Center in West Palm Beach, FL

  
Vista Center, 2005 Vista Parkway, West Palm Beach, FL


Joseph Byrnes
 FORT LAUDERDALE, FL (Dec. 16, 2013) – Berger Commercial Realty, a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced brokers Joseph Byrnes and Greg Milopoulos represented landlord Black Oak Partners, LLC in three office leases at the Vista Center, 2005 Vista Parkway in West Palm Beach.

 Palm Beach Real Estate Office, doing business as Keller Williams Realty, signed a new 10-year lease for 7,868 square feet of office space in suite 100;

Greg Milopoulos


 Pinder Troutman Consulting Inc. renewed its lease for 1,189 square feet of office space in suite 111; and

GLV Insurance Agency, Inc., doing business as Insurance Express and represented by Charles Carroccio of CBRE, expanded its existing office to 12,611 square feet by adding 2,561 square feet of space in suite 211.

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

 Marielle Sologuren

(954) 776-1999, ext. 226

Kiser Group Brokers Four Chicago Sales: Three Apartment Buildings and a Bulk Sale of 16 Condominiums

  
2200 North Avers, Logan Square, Chicago, IL
  
CHICAGO, IL  (Dec.  16, 2013) – Kiser Group, Chicago’s leading mid-market commercial real estate brokerage firm, recently brokered sales on Chicago’s North Side of three apartment properties and the bulk purchase of 16 units in a condominium building.

Sean Connelly
The four transactions included a five-unit property in Bucktown, 80 percent of a 20-unit condominium building in Logan Square, a 10-unit building in Irving Park, and a six-unit building in Humboldt Park.

1874 N. Hoyne - Bucktown

The five-unit brick apartment building located at 1874 N. Hoyne in Bucktown sold for $1,048,100. Sean Connelly, senior managing director of Kiser Group, represented buyer and seller in the off-market sale.
                             
2200 N. Avers – Logan Square

  Sixteen out of 20 condominium units at 2200 N. Avers were purchased for $825,000. The sale included 13 one-bedroom and three two-bedroom condos, each with one bath.

Bill Baumann
 “At the time of the listing, the offering had a capitalization rate of more than 7 percent,” said Connelly, who represented the seller in the sale. 

“The sale also provides the buyer the opportunity to acquire the remaining four units and recombine the property identification number to reclassify the entire building as apartments.”

 “There is a lot of upside to this deal as the buyer can convert these condos into much-needed rentals for the rapidly growing neighborhood of Logan Square,” said Bill Baumann, senior managing director of Kiser Group, who represented the buyer in the transaction.

4137-43 N. Kimball – Irving Park

 Located at 4137-43 N. Kimball in Chicago’s Irving Park neighborhood, this 10-unit brick building sold for $700,000. It includes three two-bedroom and seven one-bedroom apartments, each with one bath.

Mike Anguiano
“This is a well-maintained building on a corner property,” said Brian Semel, senior managing director of Kiser Group. Semel and Mike Anguiano, managing director of Kiser Group, represented buyer and seller in the sale.

“The location near the Kennedy Expressway’s Irving Park exit also attracts renters seeking easy access to downtown or the northern suburbs.”
                                                                            3226 W. Potomac – Humboldt Park

This six-unit apartment property at 3226 W. Potomac in Humboldt Park sold for $445,000. Brian Mond, managing director of Kiser Group, represented the buyer in the off-market sale.

 All the names of buyers and sellers involved in these transactions are not available at this time.

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

Mark Thomton
312-267-4523




NAI Realvest negotiates New Industrial Lease for RTM Recycling in South Orlando, FL


Atlas Commerce Park, 11334 Boggy Creek Road, South Orlando, FL

Jeff Clark
 ORLANDO, FL– NAI Realvest recently represented the tenant in a new long term lease for 3,360 square feet of warehouse and office space in the Atlas Commerce Park at 11334 Boggy Creek Rd. in South Orlando. 

 Jeff Clark, associate at NAI Realvest, negotiated the transaction representing RTM Recyclable Textile Management – a Tucker Ga.-based firm that does business worldwide – who leased Suite 121 at the industrial facility.

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

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com


Hendricks-Berkadia Negotiates Sale of 222-Unit Bayridge Apartment Community in Clearwater, FL


Bayridge Apartments, 3021 State Road 590, Clearwater, FL

Jason Stanton
TAMPA, FL --- Hendricks-Berkadia Apartment Real Estate Advisors, which ranks as one of the leading multi-family investment banking and research companies in the nation, recently negotiated the sale of the 222-unit Bayridge apartment community at 3021 S.R. 590 in Clearwater.

Situated on 10.09 acres, the community consists of six, three-story buildings and offers five diverse floor plans, averaging 1,001 square feet.

Cole Whitaker
Jason Stanton, vice president based in Tampa, negotiated the sale with Cole Whitaker, partner who heads Hendricks-Berkadia’s southeast region, and associate partner Hal Warren of the firm’s Orlando office.

Hendricks-Berkadia represented the seller, Bayridge Investment Partners, LLC.

Hal Warren
Stanton said the investment property, built in 1991, was located in an infill Clearwater location and has had over $1 million in renovations and improvements over the past six years.

This has positioned the property for a value-add renovation program, allowing the new owner to increase revenue moving forward.

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

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com


NAI Realvest Names Ginger Vetter Associate in Central Florida Office


Ginger Vetter
ORLANDO, Fla. -- NAI Realvest one of central Florida’s largest commercial real estate services companies and developers of industrial facilities, recently named Ginger Vetter as Associate.

Robin L. Webb, CCIM, managing director at NAI Realvest said Vetter has more than seven years of experience in commercial real estate.  She holds a Bachelor’s degree in Communications from University of Central Florida.

Vetter was formerly with Morrison Commercial and GVA Advantis in Orlando.

Webb said Vetter will be teaming with veteran broker, Mary Frances West, CCIM and focusing on landlord, owner and tenant representation in the leasing and sales of office properties in Orlando.

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

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com


HFF arranges $73.8 million in financing for the development of Pacific Business Center in Los Angeles County

    Pacific Business Center, 5600 Rickenacker, Bell, CA
                                                         
Brian Torp
IRVINE, CA – HFF announced today that it has arranged $73.8 million in financing for Pacific Business Center, a multi-building industrial development in Bell (Los Angeles County), California.

               HFF worked on behalf of the borrower, Pacific Industrial, to structure and secure the non-recourse participating loan through a global investment firm.  Loan proceeds will be used to acquire and develop the project.

               Plans call for the construction of three Class A industrial warehouse buildings totaling more than 400,000 square feet on a 22.8 acre portion of the site.  The remaining 13.7 acres are currently leased to BNSF. 

The site is located at 5600 Rickenbacker, adjacent to the 710 Freeway, two miles south of the 5 Freeway interchange, and about six miles southeast of downtown Los Angeles.

               The HFF team representing the borrower was led by associate director Brian Torp and senior managing director Don Curtis. 

Don Curtis
   “The majority of the inventory in the central Los Angeles market is functionally obsolete.  Pacific Business Center will be the best-in-class industrial project in this submarket, and the structure of the non-recourse financing will allow the sponsor to own the asset long term,” said Torp.

               Pacific Industrial is an industrial real estate development and acquisition platform exclusively focused on industrial real estate in Southern California. 

The principals have been involved with the development and/or acquisition of more than 15 million square feet of industrial product and are currently developing and entitling over 2.0 million square feet.


   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 | www.hfflp.com

Michael Fay Elected to Colliers International U.S. Board of Advisors



Michael T. Fay
MIAMI, FL, Dec. 16, 2013 - The leaders of Colliers International offices from around the nation have elected Michael T. Fay, Chairman-Founding Partner of Colliers International South Florida, to the firm's U.S. Board of Advisors.

He will serve a two-year term on the prestigious board, whose members provide governance and leadership to determine strategy for the international real estate firm's national offices.

Earlier in 2013, Fay was honored as a member of the Colliers International Everest Club for the second consecutive year. The highly regarded designation is awarded to the top producing brokerage professionals in the firm.

Fay is a prominent commercial real estate rainmaker with over 30 years of commercial real estate experience and more than $3.8 billion in transactions to his credit as an investment sales strategist.

He oversees national practice groups such as Colliers Asset Resolution Team, Colliers Automotive Retail Services Team, Surplus Land Group and the newly formed Family Office Advisory Group.

His involvement in the South Florida community includes serving on the Orange Bowl Committee, the advisory board of AvMed Health Plans and the board of HistoryMiami, a cultural institution committed to preserving Miami's history. He is active with several charitable foundations. 

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

Crystal Proenza
Vice President of Marketing
Colliers International South Florida
Commercial Real Estate Services
Tel: 305 476 7138

$47 Million San Gabriel Valley, CA Apartment Complex Sold by IPA


Waterstone San Dimas Apartments, 444 North Amerlia Avenue, San Dimas, CA

Gregory Harris
SAN DIMAS, CA,  Dec. 16, 2013 – Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has arranged the sale of  Waterstone San Dimas, a 288-unit apartment home community in the Los Angeles County city of San Dimas. 

The $47 million sales price equates to $163,000 per unit.

            Gregory Harris, an IPA executive vice president investments, along with IPA directors Kevin Green and Joseph Grabiec advised the seller, a private California investment firm.

Kevin Green
 The buyer is CNS Focused Investments, a newly created joint venture investment company formed by NNC Apartment Ventures LLC and Shane Shafer to identify, acquire, renovate and manage level “B” and “C” multifamily investments in 35 core “workforce” markets within Southern California.

            “Waterstone San Dimas is a sizeable asset in a primary market with an attractive going-in yield,” says Harris.  “The acquisition provides the new owner with a value-add opportunity in a market where luxury apartment homes are in demand.”

            Located at 444 North Amelia Ave. in San Dimas, the property provides convenient access to interstates 210 and 57, which lead to west San Gabriel Valley and Orange County and a host of major employers in industries ranging from education and tourism to healthcare.

Joseph Grabiec
            The 213,680-square-foot Waterstone San Dimas is situated on 13.5 acres and offers its residents quiet living in a lush and tranquil setting. 

Unit amenities include private patios or balconies, ceiling fans, modern appliances and large closets. Select residences feature vaulted ceilings.

Community amenities include two swimming pools and spas, tennis courts, a dog park, barbecue and picnic areas, a fitness center with free weights, a resident business lounge and clubhouse, covered parking and professionally landscaped grounds.

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

Gina Relva
Public Relations Manager
(925) 953-1716


HFF closes sale of luxury multi-housing community in Chicago’s Lincoln Park neighborhood


The Belden-Strafford Apartments, 2300 Lincoln Park West, Lincoln Park Neighborhood, Chicago, IL


Matthew Lawton
CHICAGO, IL – HFF announced today that it has closed the sale of The Belden-Stratford, a 297-unit, luxury multi-housing community in Chicago’s Lincoln Park neighborhood.

               HFF marketed the property on behalf of the seller.

               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. 

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


The 15-story property offers residents a fitness center, rooftop sundeck with 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.

Sean P. Fogarty
The HFF investment sales team representing the seller was led by managing director Sean Fogarty along with executive managing director Matthew Lawton and managing director Marty O’Connell.


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 | www.hfflp.com

HFF arranges $55 million refinancing of Class A office tower in downtown Mountain View, CA


Mountain Bay Plaza, 444 Castro, Mountain View, CA


SAN FRANCISCO, CA – HFF announced today that it has arranged a $55 million refinancing for Mountain Bay Plaza at 444 Castro, a 12-story, 165,390-square-foot, Class A office tower in downtown Mountain View, California.

Bruce Ganong
               Working on behalf of the borrower, The Swig Company, HFF placed the fixed-rate loan with John Hancock Real Estate.

               Situated in the heart of downtown Mountain View at the corner of Castro and Mercy Streets, Mountain Bay Plaza enjoys excellent access to public transportation (Caltrain), and abundant retail and dining amenities in Mountain View’s downtown core. 

Originally built in 1970 and renovated in 2001, the property features ground floor retail and an office plaza plus 11 floors of office space above a two-level, 459-space subterranean parking garage.

 It is the only high-rise in downtown Mountain View, offering unobstructed views of Silicon Valley, San Francisco Bay, and the Santa Cruz Mountains. 

The 97 percent leased property features a diversified roster of prominent Silicon Valley tenants including Fenwick & West, Red Hat, PricewaterhouseCoopers and Bank of America. 

               The HFF team representing The Swig Company was led by senior managing director Bruce Ganong and associate Walter Chui. 

Walter Chui
“The property’s core location and impressive tenant roster, combined with Swig Company’s premier sponsorship encouraged a competitive response in which John Hancock prevailed over numerous lenders and delivered an attractive solution for our client,” said Ganong.

               Headquartered in San Francisco, The Swig Company LLC is a private investment company with a 75-year history of development, ownership and management of commercial real estate properties in major markets throughout the United States.  The company’s diversified portfolio includes 9+ million square feet of office buildings in markets such as New York, San Francisco and Southern California.


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 | www.hfflp.com

BankUnited Closes $80 Million in New Commercial Loans


Lauderdale Marine Center, 2001 Southwest 20th Street, Fort Lauderdale, FL

The Miami Lakes, FL Bank  Provides $60 MillionTo Refinance Lauderdale Marine Center in Fort Lauderdale, FL
  
MIAMI LAKES, FL– BankUnited announced it closed a $60 million loan to East Yard Partners LLC and West Yard Partners LLC to refinance the Lauderdale Marine Center, a 51-acre full service boatyard and marina located at 2001 Southwest 20th Street in Fort Lauderdale.

Talking Heads
The owners bought the property in 1997. The property features 245,769 square feet of building improvements and 84,079 square feet of covered boat slips.

Lauderdale Marine Center is a premier, all-inclusive, marine center with the largest boat repair facility in the United States, able to haul, store and repair vessels up to 170 feet and 330 tons.

The loan underscores BankUnited’s commitment to making credit available to those in South Florida’s multibillion dollar marine industry, a key economic engine that helps drive the regional economy. 






BankUnited’s New York Commercial Lending Team Announces $20 Million Loan for 195 Chrystie Street Building in New York

NEW YORK, NY – BankUnited announced it made a $20 million loan to Chrystie Studios for a first mortgage on its commercial property at 195 Chrystie Street, New York, NY.

Once home to new wave band Talking Heads, whose members lived and rehearsed on the building’s ninth floor, the 95,000-square-foot building on New York’s Lower East Side now houses a mix of artist studios and creative offices for graphic designers, photographers, modeling agencies, recording studios and others.

Joseph Sforzo, an officer in BankUnited’s commercial real estate group in New York, was the lender on the transaction.

195 Chrystie Street, Lower East Side
 New York, NY
BankUnited, N.A., a national bank and wholly-owned subsidiary of BankUnited, Inc. (NYSE: BKU), is headquartered in Miami Lakes, Florida with $14.3 billion of assets, 98 banking centers in 15 Florida counties and five banking centers in the New York metropolitan area at September 30, 2013.

Ranked 10th on Forbes Magazine's list of "Best Banks in America 2012," and one of the largest independent depository institutions headquartered in Florida by assets, BankUnited provides a wide range of commercial and consumer banking services.

 For additional information, call (877) 779-2265 or visit www.BankUnited.com.

 BankUnited can be found on Facebook at facebook.com/BankUnited.official and on Twitter @BankUnited.





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

Mary Harris, (305) 817-8117                                            
Savannah Whaley, (954) 776-1999, ext. 225