Monday, March 31, 2014

HFF closes $5.65 million sale of and secures $3.95 million financing for San Diego County multi-housing community

Kenora Terrace apartments, 3541 Kenora Drive, Spring Valley, CA

Hunter Combs

SAN DIEGO, CA – HFF announced today that it has closed the $5.65 million sale of and secured $3.95 million in acquisition financing for Kenora Terrace, a 46-unit, garden-style multi-housing community in Spring Valley, California. 

               HFF marketed the property on behalf of Pacifica Companies.  Doug Wetton Properties purchased the property for $5.65 million.  HFF also secured a three-year, interest only acquisition loan on behalf of the buyer through a balance sheet lender. 

Kenora Terrace is located at 3541 Kenora Drive with nearby access to State Routes 94 and 125 and Interstate 8, which provide direct access to major employment centers in downtown San Diego and Mission Valley. 

Situated on 2.5 acres, the property totals 40,834 rentable square feet and includes 40 two-bedroom and six three-bedroom floor plans.  Built in 1979, 13 of the property’s units were partially renovated prior to the sale.  Community amenities include a playground, barbecue area and on-site parking.

The HFF investment sales team representing Pacifica Companies was led by director Hunter Combs.

               HFF’s debt placement team was led by senior managing director Aldon Cole.

Aldon Cole
               “Kenora Terrace presented a great opportunity for investors with its desirable location within Spring Valley, family-oriented unit mix consisting of large two- and three-bedroom units, and high occupancy (fully leased at closing) in a historically well-leased submarket. 

“ Per MarketPointe, the East County San Diego submarket has a 3.5 percent vacancy rate compared to the 4.6 percent vacancy rate for the San Diego Metro, as of September 2013.

“ Looking forward, Kenora Terrace’s submarket is forecast to have an average vacancy rate of 1.4 percent during the next five years according to Reis, lower than San Diego Metro (2.4 percent), the West (3.8 percent) and the nation (4.4 percent),” commented Combs.

Pacifica Companies is a San Diego-based diversified real estate group with $3 billion in assets.

Based in Newport Beach, California, Doug Wetton Properties, Inc. currently owns and manages more than 20 multifamily projects in 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 |

HFF arranges $19.8 million financing for Cantera Meadows in suburban Chicago

Cantera Meadows office building, 28100 Torch Parkway, Warrenville, IL

CHICAGO, IL – HFF announced today that it has arranged $19.8 million in financing for Cantera Meadows, a 203,842-square-foot, Class A office property in Warrenville, Illinois.

               HFF worked on behalf of Adventus Realty Services, Inc. (as trustee for Adventus Realty Trust) to secure the 10-year, 4.98 percent, fixed-rate loan with JPMorgan Chase Bank, National Association.  The securitized loan was used to purchase the property and will be serviced by HFF.

Christopher Carroll
               Cantera Meadows is located on an 11.8-acre site at 28100 Torch Parkway along the north side of Interstate 88 at the Winfield Road interchange. 

The property is within the Cantera master-planned development in Chicago’s western suburbs.  Completed in 1997 and renovated in 2011, the eight-story property features a full-service cafeteria, fitness center, multiple conference facilities and parking for 810 vehicles. 

Tenants at the 92 percent leased property include EN Engineering, LLC, Patterson Medical Supply, Inc. and Symbria, Inc.

               The HFF debt placement team was led by managing director Christopher Carroll.

Adventus Realty Trust is a private Real Estate Investment Trust (REIT) formed in early 2012. Adventus is based in Vancouver, British Columbia, Canada, and is focused on US income producing commercial real estate, primarily in the suburban office market of Chicago, Illinois.

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 Names Angela Harwell Associate in Orlando, FL

Angela Harwell

ORLANDO, FL-- NAI Realvest, one of central Florida’s largest commercial real estate services companies, recently named Angela Harwell, CCIM an associate.

Robin L. Webb, CCIM, managing director at NAI Realvest said Harwell has more than nine years of experience in commercial real estate sales and leasing. 

Harwell, who attended the University of South Florida, also has 20 years of experience in sales, marketing, account management and customer service. 

Robin  L. Webb
Harwell was formerly a broker-associate with Lakeland Commercial Realty.  Prior to that she was the director of sales and leasing with 6/10 Corporation where she specialized in commercial portfolio management, sales and leasing of office, retail and industrial properties.  Harwell earned her CCIM Designation in 2013.

Webb said Harwell will be teaming with NAI Realvest director of retail services Mez Birdie, CCIM and focusing on sales and leasing of retail properties in Central Florida and mainly the Polk County area.

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

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

Loews Hotels & Resorts Announces Michael Palmeri as Senior Vice President and New Head of Acquisitions and Development

Michael Palmeri
NEW YORK, NY – (March 31, 2014) - Loews Hotels & Resorts, a wholly owned-subsidiary of Loews Corporation (NYSE: L), today announced the promotion of Michael Palmeri to Senior Vice President, Acquisitions and Development, who will assume responsibility for leading the company’s property acquisitions, real estate development and capital raising.

 Palmeri, who joined Loews Hotels & Resorts in 2011, has played an instrumental role in growing the company and expanding the Loews brand. 

Loews recently acquired hotels in Los Angeles, Washington, D.C. and Boston and today opens hotel four in Orlando, Universal’s Cabana Bay Beach Resort, a joint venture with NBC Universal.

Additionally the company is developing a hotel in Chicago, which is scheduled to open in early 2015.  He also plays a key role in managing new capital partners and raising equity for deals.
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For a complete copy of the company’s news release, please contact:

Sarah Murov                                                                                                      
(212) 521-2495                                                                                                                                                           
 Chris Daly 
 (703) 435-6293

First Quarter Leasing Exceeds 63,000 SF for Taylor & Mathis Broward Team

Donna Korn
Sawgrass, FL, March 31, 2014 -   Taylor & Mathis of Florida’s Broward leasing team has executed 63,673 square feet of leases in the first quarter of 2014.

 “After years of company downsizing and consolidation, we are seeing significant interest in expansions as well as a move to upgraded office space,” according to T&M Director of Leasing Donna Korn

“In the first quarter alone we have completed 43,691 square feet of lease expansions and renewals and nearly 20,000 square feet of new deals.”  Last year Taylor & Mathis leased nearly 180,000 square feet of office space throughout their Broward County portfolio.

Donna Korn and Jennifer Gemma of Taylor & Mathis brokered the following office lease transactions in Broward County on behalf of the building landlords including 20,216 and 18,888 square feet leased at MetLife’s Miramar Center and Venture Corporate Center and 24, 569 square feet leased at Brookdale Realty’s Corporate Center in Sawgrass Corporate Park.

Scott Allen
·         ROW Management, Ltd. will relocate their offices from Miramar to 10,624 square feet at Brookdale Realty’s Corporate Centre I in Sawgrass Corporate Park. 

Ryan Nunes and Scott Allen of CBRE co-brokered the deal.  ROW is responsible for sales, marketing, operations and administration of The World, the largest, privately owned residential yacht on earth.

“We are extremely pleased with the high level of service provided to us by the Taylor & Mathis team,” said ROW’s President & CEO Tom McAlpin

“They have done a fine job of accommodating our requirements in a professional and timely manner. The building and surrounding area meets our needs and we are looking forward to our move this summer.”

·         Lockton Companies, LLC, the world’s largest privately owned insurance brokerage firm, signed a 12,317 square foot renewal at MetLife’s Miramar Centre in Miramar, Florida.  The deal was co-brokered by Alexander Brown and Charlie Barton of CRESA. 

·         Interim Healthcare, Inc. signed a renewal and expansion of 12,486 square feet for their corporate headquarters at Brookdale Realty’s Corporate Centre III in Sawgrass Corporate Park.

Ryan Rosalsky
 Ryan Rosalsky of Newmark Grubb Knight Frank co-brokered the deal on behalf of the national franchisor of home care, hospice and healthcare staffing companies.

·         NV5, Inc. signed a renewal and expansion of 11,776 square feet for their corporate headquarters at MetLife’s Venture Corporate Center in Hollywood, Florida.   The firm nearly doubled the size of their offices with a 7,166 square foot expansion. 

NV5 Holdings, Inc. (NASDAQ: NVEE) is a provider of professional and technical engineering and consulting solutions to public and private sector clients in the infrastructure, energy, construction, real estate and environmental markets.

·         South Florida Regional Planning Council, a planning and public policy agency, renewed their lease of 7,112 square feet at MetLife’s Venture Corporate Center in Hollywood, Florida.  

·         Network specialist Ciena Communications, Inc. will relocate from Doral to 6,237 square feet at MetLife’s Miramar Centre in Miramar, Florida.  The deal was co-brokered by Ryan Ackerman of CBRE.

Ryan Ackerman
·         HSDI Technology, Inc., a human resources consulting and staffing service, signed a 1,662 square foot lease at MetLife’s Miramar Centre in Miramar, Florida. 

 ·         Global provider of integrated communications, R.R. Donnelley & Sons Company signed a 1,459 square feet at Brookdale Realty’s Corporate Centre I in Sawgrass Corporate Park.  Ryan Nunes and Scott Allen of CBRE co-brokered the deal. 

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

Donna Korn  or
 Jennifer Gemma

SVN | Chicago Commercial Completes Sale of Walton on the Park South in Chicago, IL

Walton on the Park South, Chicago, IL

Jerry Goldner

 CHICAGO, IL (March 31, 2014) - Gold Coast rental condominium tower, Walton on the Park South, and an adjacent 17,180-square-foot development site zoned for 261 residential units, have been acquired by Miami developer, Crescent Heights Inc.

Located at 2 W. Delaware St. in Chicago, the sale included 160 units of the 201-unit high rise and the neighboring parcel.

An unsolicited offer was generated by Jerry Goldner, vice president of investment sales at SVN | Chicago Commercial, who represented the purchaser in the transaction. Goldner a 34-year veteran of the Chicago commercial real estate market, was also the sole broker of Cityfront Center Plaza Phase II, now referred to as the Optima Chicago Center.

Kevin Maggiacomo
Kevin Maggiacomo, CEO of Sperry Van Ness, who is familiar with the details of this transaction, confirmed it is the single largest deal transacted in the firm’s history.

Sperry Van Ness, LLC is a national full-service commercial real estate advisory firm located at 940 West Adams Street in downtown Chicago.

 The platform provides Sales, Leasing, Property Management and Auction Services. 312.676.1866. For more information, please visit

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

Mark Thomton,, 312-267-4523

Arbor Commercial Mortgage Named Newest Freddie Mac Program Plus® Lender

Ivan Kaufman
UNIONDALE, NY (March 31, 2014) - Arbor Commercial Mortgage, LLC (“Arbor”), a national, direct commercial real estate lender, has been approved by Freddie Mac’s as its newest Program Plus® multifamily lender and in-house servicer.

Freddie Mac's Program Plus network is a highly selective group of experienced multifamily lenders with more than 150 branches across the nation. Program Plus Seller/Servicers are approved by Freddie Mac for specific geographic areas. Arbor has been approved as a seller and servicer for New York, New Jersey and Connecticut.

“We are extremely pleased to have been named as Freddie Mac’s newest Program Plus seller and servicer,” stated Ivan Kaufman, Chairman and CEO of Arbor.

“As a leading multifamily lender, the attractive financing programs our clients will now be able to access through Freddie Mac will complement the other diverse and flexible commercial loan products we have offered the industry for the past two decades.

John Cannon
“We look forward to a long and successful relationship with our newest partner and to providing our loyal clients with another financing option to suit their business goals.”

“We are pleased to approve Arbor Commercial Mortgage as a Program Plus lender,” added John Cannon, Senior Vice President of Production and Sales for Freddie Mac.

“Freddie Mac only purchases multifamily mortgages through the nation's best locally based lenders who have years of lending expertise and proven track records of success.

“Based on in its long-standing multifamily financing experience and the expertise of its senior management team, Arbor is a logical and complimentary addition to our family of lenders. We look forward to partnering with Arbor for the betterment of borrowers for years to come.”
For a complete copy of the company’s news release, please contact:

Chris Ostrowski
Arbor Realty Trust, Inc.
Tel: (516) 506-4255
333 Earle Ovington Blvd,
Suite 900
Uniondale, NY