Thursday, March 27, 2014

$52.4 Million in Financing Arranged by John Banas and Kris Wood of Marcus & Millichap Capital Corp. in January 2014

 PHILADELPHIA, PA – John Banas and Kris Wood of Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, arranged five loans totaling $52.4 million in Pennsylvania in the first month of 2014.

Banas and Wood are both senior directors in the firm’s Philadelphia office.

            “John and Kris have had an especially strong start in 2014, closing five loans totaling more than $50 million throughout Pennsylvania,” says John Wilcox, vice president, eastern region.

“The range of these transactions, in terms of property types, challenges and clients, is a testament to John and Kris’ experience as originators and to the power of the Marcus & Millichap platform.”

            One of Banas and Wood’s most significant originations was the $27 million refinance of a seven-property retail portfolio in Philadelphia. “The borrower chose to refinance his portfolio instead of sell at this point to take advantage of low interest rates and the equity in the portfolio,” says Banas. “This proved challenging as the portfolio was mainly occupied by smaller, in-line retail tenants. We arranged the refinance and secured terms that satisfied the borrower’s needs.”

The 10-year loan is fixed for the first five years at an interest rate of 3.6 percent and amortizes over 30 years.  After five years, the rate will reset at 180 basis points over the five-year federal home loan bank rate.

Banas and Wood also arranged an acquisition loan totaling $18,400,000 for a143-unit student housing portfolio located at Bloomsburg University in Bloomsburg, Pa. The 12-year loan is fixed for seven years at 4 percent, interest only during the first year, with a five-year reset. The loan amortizes over 30 years.

Banas and Wood also closed a $4,900,000 retail banking center acquisition loan in Newtown Square, Pa. and two multifamily acquisition financings in Philadelphia totaling $2,180,000.

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

Gina Relva
Public Relations Manager
Marcus & Millichap Capital Corporation
(925) 953-1716

Berger Commercial Realty Broker Greg Milopoulos Closes Leases Totaling More Than 10,000 Square Feet of Warehouse Space in Southeast and Northeast Florida

Greg Milopoulos
FORT LAUDERDALE, FL - Berger Commercial Realty broker Greg Milopoulos recently negotiated three new leases for warehouse space in Broward, Palm Beach and Duval counties.

Broward County

Mr. Milopoulos, along with broker Keith Graves of Berger Commercial Realty, represented Prologis in renewing a lease with tenant Innovations Company USA, Inc. for 4,200 square feet of space at the I-595 Distribution Center, located 7050-7060 W. State Road 84 in Davie.

Strategically located in central Broward County along the I-595/State Road 84 corridor with convenient access to the tri-county market, the facility's features include 22+/- foot clear height ceilings, a combination of docks and loading ramps, and three-phase power.

Keith Graves
Berger Commercial Realty serves as the property's exclusive leasing agent for Prologis, a leading owner, operator and developer of industrial real estate in regional markets worldwide.

Palm Beach County

Mr. Milopoulos also represented tenant Maxima Precision, Inc. in leasing 5,400 square feet of warehouse space, located at 4500 Oak Circle in Boca Raton, from landlord Wiley Marie B.

 Duval County

Additionally, Mr. Milopoulos represented SAQ Gulf Holdings LLC in a new lease for 4,500 square feet of warehouse space, located at 1057 Ellis Road North in Jacksonville, from A-B Distributors, Inc.

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

Marielle Sologuren
Pierson Grant Public Relations
(954) 776-1999, ext. 226

Williamson Automotive Group Expands to Adjacent Site in Miami, FL

Xavier Cossard
MIAMI, FL  - Colliers International South Florida is pleased to announce that the Williamson Automotive Group has acquired 7700 SW 100th Street in Miami, a site adjacent to its existing dealership located at 7815 SW 104th Street, for $8.9 million

The buyer was represented by the Colliers Automotive Retail Services (CARS) Group, led by Xavier Cossard, National Director of CARS and Michael T. Fay, Chairman & Founding Partner of Colliers International South Florida.

Joel N. Minsker, Esq., and Bloom & Minsker, P.L. served as counsel for the buyer. Seller, A-1 Fargo Van & Storage, was represented by Lee S. Katsikos of The Katsikos Group, Inc.

"We are delighted to have been able to acquire this property because of how our business has expanded over the last several years," says G. Ed Williamson, II, Chairman and CEO of Williamson Automotive Group Cadillac-Buick-GMC. The site will be used for operational purposes of the dealership, he adds.
Michael T. Fay
"Automotive sales are growing quickly and many dealers face a similar quandary of making certain their real estate works for their business," says Cossard. "As urban land prices continue rising, many dealers are taking a very close look at their operations."    
The Colliers Automotive Retail Services Group is a specialty practice dedicated to auto dealerships.

 The only major full-service real estate firm with a specialty practice dedicated to auto dealerships, this group has generated over $1 billion in transactions since its inception in 2004.

 CARS works with client requirements ranging from acquisition or disposition of a single dealer site or franchise to the most complex transactions that involve finding alternate uses for auto sites, analyzing portfolios and business enterprises.

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

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

Hold-Thyssen negotiates new lease with Law Firm at New England Building on South New York Avenue in Winter Park, FL

Darby Hold
WINTER PARK, Fla. --- Hold-Thyssen, Inc., a commercial property firm based in Winter Park, recently negotiated a new lease agreement at the New England building located at 230 S. New York Ave.  in Winter Park. 

Darby Hold, lease consultant for Hold-Thyssen, negotiated the transaction on behalf of the local landlord, New England Partners, LLC.

Kracht Law Firm, P.A., leased Suite 101 with 735 square feet.    The tenant was not represented in the transaction.

 Hold-Thyssen, Inc. provides commercial property and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States.

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

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

HSA PrimeCare Celebrates Completion of the Hawthorn Surgery Center in Vernon Hills, IL

Hawthorn Surgery Center rendering, 240 Center Drive, Vernon Hills, IL

Julie Bell
CHICAGO, IL (March 27, 2014) — Dan Miranda, president of HSA Commercial Real Estate, and John Wilson, president of HSA PrimeCare, announced today that HSA PrimeCare has finalized development of the Hawthorn Surgery Center, a 15,200-square-foot state-of-the-art outpatient clinic to be occupied by Hawthorn Surgical Associates (“Hawthorn”), a subsidiary of Surgical Care Affiliates LLC.

The newly-completed ambulatory care center located at 240 Center Drive in north suburban Vernon Hills, Ill. features three surgical suites, one procedure room, and 14 recovery stations.

“We are very excited about presenting our new Vernon Hills location to our patients in the coming weeks,” said Julie Bell, administrator at Hawthorn. “The final design and delivery of the building has really exceeded our expectations, especially given how smooth the construction process was for us.”

Hawthorn selected HSA PrimeCare, the national health care real estate division of Chicago-based HSA Commercial Real Estate, in 2012 as its development partner to plan, develop, and own the property.

John Wilson
HSA PrimeCare also consulted with Hawthorn to estimate and allocate costs for the requisite Certificate of Need application and to coordinate with the village of Vernon Hills and neighboring land owners on an extensive re-platting process.

 HSA PrimeCare executed the project on a tight seven-month construction schedule in order to ensure a smooth transition from Hawthorn’s current facility in Libertyville, Ill.
“By every measure possible, the new Hawthorn Surgery Center in Vernon Hills will help the practice deliver on its goal of offering the highest-quality surgery experience in a neighborhood location that patients will find very comfortable and easily accessible,” said John Wilson. “We anticipate the practice and its patients to be very pleased with their new facility.”

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

Mark Thomton,, 312-267-4523

Related Midwest Named Developer of the Year at 2014 Chicago Commercial Real Estate Awards


 The team from Related Midwest celebrates its “Developer of the Year” award at the Chicago Commercial Real Estate Awards for its work on several notable residential projects in Chicago, including 500 Lake Shore Drive, South Loop Luxury by Related and Parkway Gardens. At center with the award is Curt Bailey, president of Related Midwest.

 The team from Related Midwest celebrates its “Developer of the Year” award at the Chicago Commercial Real Estate Awards for its work on several notable residential projects in Chicago, including 500 Lake Shore Drive, South Loop Luxury by Related and Parkway Gardens. At center with the award is Curt Bailey, president of Related Midwest.

CHICAGO, IL  (March 27, 2014) – Chicago-based Related Midwest is pleased to announce it was named Developer of the Year at the 26th annual Chicago Commercial Real Estate Awards, held March 20, 2014, at the Chicago Hilton.

500 Lakeshore Drive Apartments, Chicago, IL
The title comes just a month after the firm was honored with a Chicago Neighborhood Development Award from LISC Chicago for spearheading the redevelopment of Parkway Gardens, an affordable housing community of 35 buildings in Chicago’s Woodlawn neighborhood.

 The Chicago Commercial Real Estate Awards, considered one of the city’s most prestigious events for the commercial real estate industry, honor outstanding developers, designers, brokers and architects for their work in 2013, with proceeds benefitting the Greater Chicago Food Depository.

 Awards were presented in 15 categories, and winners were decided by a Blue Ribbon Panel of judges.

This year, more than 1,850 guests helped raise $1.13 million for the Food Depository’s hunger-relief programs, which serve disadvantaged families and individuals living throughout Cook County.

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

Sarah Lyons,, (312) 267-4520

Kim Manning,, (312) 267-4527

Hendricks-Berkadia Sets a New Pricing Record with Sale of Chapel Lakes Apartments in Wetumpka, AL for $14,400,000 or $94,736 per Unit

Chapel Lakes community, Wetumpka, AL

David Etchison
 BIRMINGHAM, AL--- Hendricks-Berkadia, one of the nation’s largest and most active multifamily investment banking and research companies, recently negotiated the sale of Chapel Lakes, a 152-unit apartment community located just north of Montgomery in Wetumpka, for full list price of $14.4 million or $94,736 per unit. 

The property sold at a 6.5 percent cap rate, which sets a new record high for price per unit sales in the greater Montgomery apartment market said Senior Vice President David Etchison of Hendricks-Berkadia’s Alabama office. 

Two adjacent multifamily land sites were sold in a separate, but related transaction for an additional $600,000.  The contiguous land totaled 30 acres and was zoned for an additional 152 multifamily units, which the purchaser plans to develop soon.

Etchison along with Hendricks-Berkadia’s Alabama Partner David Oakley, negotiated the sales representing the seller, EBSCO Chapel Lakes, LLC, based in Birmingham.

David Oakley
“After receiving over a dozen offers from national, regional and local investors, the marketing campaign concluded as a win-win for both the buyer and seller,” said Etchison.  “The local job growth spurred by the new $246 million Wind Creek Casino, coupled with Hyundai’s continued success, will bode well for the new owner.”

Chapel Lakes was built in 2005 and has a total of 189,280 square feet of rentable living space with one-, two-, and three-bedroom apartments.  Average rents were $0.67 per square foot at the time of sale.

The buyer was Chapel Lakes LLC, based in Pennsylvania.  Chapel Lakes has an existing Fannie Mae loan that was assumed at closing by the Buyer.  Based on the purchase price at closing, the Loan-to-Value ratio was 56 percent and the assumable existing debt had an interest rate of 5.26 percent.

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

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

HFF named to market for sale value-add office tower in Chicago’s West Loop

230 West Monroe, Chicago, IL

Jeff Bramson
CHICAGO, IL – HFF announced today that it has been named to market for sale 230 West Monroe, a 623,524-square-foot, value-add office tower in Chicago’s West Loop.

HFF is marketing the property on behalf of the seller, a joint venture led by Lincoln Property Company.  HFF assisted the partnership in their acquisition of the property in August 2012.

230 West Monroe is located in Chicago’s West Loop district at the intersection of South Franklin and Monroe Streets. 

The 29-story office tower is 67.6 percent leased to tenants in the financial services, education, engineering, insurance, legal and real estate industries. 

Originally developed in 1971, the property underwent extensive renovations in 2003 and 2013, including elevator modernization, lobby renovations and numerous common area upgrades. 

The HFF investment sales team representing the seller is led by senior managing directors Jeff Bramson and Jaime Fink and director Mark Katz. 

Jaime Fink
“The opportunity to purchase this property represents a rare chance for investors to acquire an upgraded value-add office asset in Chicago’s West Loop submarket,” said Bramson.  “This property offers potential investors a very well-located office property priced under $150 million on an attractive basis per square foot.”

“Lincoln recently completed meaningful upgrades to the building to take advantage of the improving West Loop office market and the recent departure of Wells Fargo from the upper floors of the building. 

“These improvements will aid in creating higher demand from potential tenants when leasing up the vacant space,” continued  Fink.

               Lincoln Property Company is one of the nation’s largest private diversified real estate service firms in the United States.  It currently has more than $46 billion in assets owned and managed including 144,000 residential units and 174 million square feet of commercial space. 

Mark Katz
Lincoln’s Chicago commercial region’s leasing and management portfolio totals more than nine 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 |

HFF Philadelphia hires Christopher Munley to focus on retail investment sales

Christopher Munley
PHILADELPHIA, PA – HFF announced today that Christopher Munley has joined the firm as a managing director in its Philadelphia office to focus on retail investment sales transactions in the Mid-Atlantic region.

Mr. Munley joins HFF from Marcus & Millichap, where he specialized in the sale of single and multi-tenant retail real estate, closing more than $1 billion of transactions during his tenure there. 

He has been recognized as one of Real Estate Forum’s “Top 5 Brokers” in 2013, and while at M&M was a four-time Sales Recognition Achievement Award winner and a three-time National Achievement Award winner.  Mr. Munley holds a Bachelor of Arts in Economics from Drew University. 

“Chris has established himself as a top retail professional in the Mid-Atlantic region, and we are pleased that he will be a member our growing Philadelphia investment sales team,” said Mark Thomson, senior managing director and co-head of the HFF Philadelphia office. 

Mark Thomson
“HFF’s Philadelphia office opened in late 2013 and we are currently building out the full platform of services and product specialties offered by HFF nationally, by hiring and retaining associates who have the highest ethical standards and best reputations in the industry.”

“We have built a successful track record of working together with Chris over the years,” added Zac Pierce, senior managing director and co-head of HFF’s Philadelphia office.

“Many owners of multi-housing assets also own retail properties and Chris’ extensive transactional history and market knowledge have been extremely valuable to our clients.  Chris has executed 100 percent of the assignments that we have referred to him, which has earned our trust and the confidence of our valued client base.”

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 |

McCarthy Completes Construction for $113 Million LEED Platinum-Designed UCSD Health Sciences Biomedical Research Facility in La Jolla, CA

 Health Sciences Biomedical Research Facility
 at the University of California,
San Diego, (UCSD) in La Jolla
SAN DIEGO, CA -- Biomedical science students and faculty striving to solve the world’s most critical health problems now have access to one of the most sustainable laboratories in the country with the completion of the new Health Sciences Biomedical Research Facility at the University of California, San Diego, (UCSD) in La Jolla. A dedication ceremony was held March 6 to celebrate the completion.

Built by McCarthy Building Companies, Inc., and designed by the Portland, Ore., office of ZGF Architects LLP, the new 196,000-square-foot facility is located on a 3.3-acre site within the UCSD Health Sciences campus.

 It will accommodate new and expanded multi-departmental programs, including bioinformatics, genomic medicine, gastrointestinal medicine, childhood diseases, pathology, immunology, inflammation, psychiatry, cardiology, neurosciences, infectious diseases, and glycobiology. The building is expected to achieve LEED Platinum Certification.

University of California campus
The new Health Sciences Biomedical Research Facility was designed to foster collaboration between scientists in the region and worldwide, allow them to share critical data, and enhance the university’s ability to attract the best and brightest researchers from around the globe.

Mark A. Rowland, principal architect and project manager for UCSD, heads the university’s Facilities Design and Construction office charged with implementing the $113 million project.

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

Bonnie Kutch,
Susan Garritano,

Franklin Street sells CVS in Holiday, FL for $2.6M; South American fund purchases NNN corporate lease at 94 percent of asking price

CVS Pharmacy, 2513 U.S. Highway 19, Holiday, FL
TAMPA, FL —Franklin Street announces the sale of a CVS corporate-guaranteed triple-net lease for $2,610,000. This sale represents $251 per square foot and is located at 2513 U.S. Highway 19 in Holiday, Fla.

Rafeal Wright, CCIM and Jonathan Graber, CCIM represented the seller, Holiday Sun Properties LTD LLLP, a Southeast Florida limited liability partnership. The buyer is a South American Fund with an office in Miami, Fla.

Jonathan Graber
 “We have seen a wave of foreign investors purchase retail properties throughout the U.S. – a good amount being from South America,” Wright said. “Seeing Tampa Bay retail as a safer investment, they have been making their way into our market recently.”

 Built in 1996, the property had a remaining lease term of less than three years.

 “Most new drugstores have 20 to 25 years on their initial lease which gave us initial challenges finding the right buyer,” Graber said. “However, due to the location and strong sales history, we were able to sell at 94 percent of our asking price.”

 The freestanding CVS is located on U.S. Highway 19 and Darlington Road in the heart of Holiday, FL. CVS/Pharmacy has more than 7,400 stores across the U.S. serving more than 60 million plan members.

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

Kelsy Pazur
813-839-7300, ext. 337

RealtyTrac® Launches File Licensing Business for Nationwide Sales Deed, Mortgage and Tax Data

Jamie Moyle
IRVINE, CA— RealtyTrac® (, the nation’s leading source for comprehensive housing data, announced it has entered the tax, deed and mortgage data licensing business, making it the first new entrant in the business in more than a decade.

 For years RealtyTrac has been licensing its proprietary foreclosure database of more than 20 million current and historical foreclosure records and local & environmental data available through Homefacts.  Today, it launches a nationwide property-level dataset for tax, deed and mortgage records for U.S. parcels nationwide.

“For nearly 20 years RealtyTrac has been a market leader in B2B and B2C applications for comprehensive real estate data, and we are excited to expand our data footprint and continue our mission of bringing more data to more people,” said Jamie Moyle, CEO at RealtyTrac.

”We are expanding the horizons in every direction when it comes to leveraging real estate data for personal, business and policy decision-making.

RealtyTrac also hired 28-year industry veteran Brian Mushaney to head up its rapidly growing file licensing division.  Brian was previously with Lender Processing Services for 11 years as Senior Vice President of Sales within the Data Solution group and most recently was the Senior Executive with X1 Analytics.

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

Ginny Walker
Public Relations Supervisor
Office: 949.502.8300 ext. 268
Mobile: 323-317-5852