Wednesday, July 2, 2014

Regency Centers Amends its Unsecured Term Loan Facility

JACKSONVILLE, FL--(BUSINESS WIRE)-- Regency Centers Corporation (NYSE:REG) (“Regency” or the “Company”) announced today an amendment (the “Amendment”) to its existing senior unsecured term loan facility (the “Facility”).

The Amendment established a new Facility size of $165 million, extended the maturity date to June 27, 2019 and reduced the applicable interest rate.

The Facility will bear interest at LIBOR plus 1.15% per annum and is subject to an unused fee of 0.20% per annum on the undrawn balance.

Borrowings under the Facility as of June 30, 2014 total $75 million and the Company has until August 31, 2015 to elect to borrow up to an additional $90 million.

Regency expects to use the Facility for general corporate purposes, including funding its development and redevelopment programs and repaying maturing debt.

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

Regency Centers Corporation
Patrick Johnson, 904-598-7422

ZipRealty Reports Median Home Sales Price Growth Jumps in May

EMERYVILLE, CA – ZipRealty, Inc. (NASDAQ: ZIPR), a leading online residential real estate brokerage and provider of technology and marketing solutions, released a new report showing that median home sales prices in the 24 metros surveyed by ZipRealty accelerated to 7.9% year-over-year growth in May 2014, about 2 percentage points stronger than the 6.1% year-over-year growth seen in April 2014.

 Across the metros analyzed by ZipRealty, the sales price was $290,000 at the end of May 2014, a $20,000 increase since May 2013. The largest year-over-year increases in median home sales for May 2014 were in Las Vegas, up 16% year-over-year; Sacramento, up 15%; Chicago, higher by 14%; Austin, with a 12% gain; and Orlando and L.A., where both cities showed an 11% increase in median home prices since a year ago.

“Home price trends continue to be closely tied to inventory levels, and part of the price strength in May almost certainly reflects tighter inventory this month,” explains ZipRealty CEO Lanny Baker.

After rising 1% year-over-year in April 2014, for sale housing inventory fell to (5%) below 2013 levels in May 2014. 

The biggest declines in inventory occurred in the leading Texas metros, with the number of homes for sale in Houston down (16%) year-over-year, Dallas down (12%) and Austin down (6%). Sizeable inventory declines also occurred in Boston (13%) and Denver (5%) in May 2014.

While the median number of days on market increased 4% year-over-year in May, a handful of metros saw increased sales activity and significant declines in days on market. 

The average time a house stayed on the market in Boston fell to 21 days in May 2014, half as long as in May 2013. Other markets with big drops include Austin, Portland, Houston, Dallas and Chicago.

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

Stacey Corso

ZipRealty Names the 10 Best Places for Families to Live

Lanny Baker
EMERYVILLE, CA  /PRNewswire/ -- ZipRealty, Inc.  (NASDAQ: ZIPR), a leading online residential real estate brokerage and provider of technology and marketing solutions, released its second annual ranking of the 10 Best Places for Families to Live: Top School Districts with the Most Affordable Housing.
The list was compiled by analyzing the highest-rated public school districts in 23 metros nationwide and the median price per square foot for real estate in that district. 

To be considered, at least 10 home sales must have closed in that region's school district in 2013. 

Minneapolis, Austin and Portland made the list for the second consecutive year.

"This annual study is part of our ongoing effort to use ZipRealty's technology and data capabilities to provide home buyers with the most relevant and accurate neighborhood information," said Lanny Baker, ZipRealty's CEO. "In particular, the School Score shown within our mobile apps and on our website helps families decide which school districts and neighborhoods are best for them."

ZipRealty's School Score ratings measure the performance of each school district, including elementary, middle and high schools, on a scale of 1 to 10, with 10 being the highest.

 ZipRealty calculates the School Score based on test-score data. Cross-referencing those School Scores with housing information such as per square foot sales prices gives consumers a window into the most affordable areas with the strongest local education systems.

The 10 Best Places for Families to Live, based on the quality of the local school district and median price per square foot, are:

Delano Public School District
Fort Mill School District
Lovejoy Independent School District
St. Charles C.U.S.D. 303
Harvard Public Schools
Lake Oswego School District 7J
NYC/Long Island
Nanuet Union Free School District
Eanes Independent School District
Orange County, Calif.
Los Alamitos Unified School District
Mercer Island School District 400

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

Stacey Corso

Voit Moves Its Commerce Office to New Location in Torrance, CA

Ian Britton
Los Angeles, CA (July 2, 2014) – Voit Real Estate Services, a commercial real estate firm with more than 40 years of expertise in commercial brokerage, asset and property management, construction and development, has moved their Commerce office to a new location in Torrance, Calif.

 The move to the new office location was necessary in order for our brokerage professionals to better serve the demand in one the most dynamic markets in the country (Los Angeles), according to Ian Britton, Managing Director for Voit’s L.A. based office.

 The new office features an open, more collaborative concept and accommodates our expansion needs over the next few years.

 The office, which was originally opened in September of 2010, is led by Voit brokers David Fults and Brian McLaughlin, both Senior Vice Presidents who have been with the company more than four years.

David Fults
Team members in the Torrance office include Derek DeVre, CJ Collins, Patrick Haddan and Arlene Blanco, with plans to expand this group.

 “Driven by client demand, our strategic relocation within the Los Angeles market will continue to strengthen our market share,” commented Britton. 

“As Voit continues to strategically place our ‘Boots on the Ground’ throughout the Western United States, a key component to our growth strategy will also include bringing in seasoned professionals and young talent in all product types to grow our team and better respond to the needs of our diverse client base.”

 Voit Real Estate Services is now an 11 office commercial real estate firm that, through its brokerage and real estate management professionals working together, provides strategic property solutions tailored to clients' needs.  

Combining more than 40 years of expertise in brokerage, investment advisory, financial analysis, market research, real estate management and tenant advisory, Voit provides clients with forward looking strategies that create value for their assets and portfolios.

Brian McLaughlin
 Voit is a privately held, debt-free firm that has successfully navigated numerous market cycles since 1971 and currently employs more than 250 people. 

Voit has owned, developed and managed over 55 million square feet of commercial real estate, participated in $1.4 billion of construction projects and completed over $40 billion in brokerage transaction volume. 

  Further information is available at

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

Jessamyn J. Miller | Marketing Manager
Voit Real Estate Services
T (949) 566-6422 | C (949) 929-7147

License #01333376

RECI Reports Borrowers Scrambled to Lock in Long-Term Interest Rates in June

Jeanne Peck
Chicago, IL -June closed to an active finish as
borrowers scrambled to lock in long term rates that decreased 10 bps due to
market fluctuations.  

Additional "action" in the mortgage markets is on the
underwriting front, with lenders continuing to loosen their purse strings
for borrowers in a variety of creative ways as discussed below:

Debt Payment Options:  Spreads are near rock-bottom, nearing unprofitable
yields as compared to other investment alternatives for funding sources.

Thus, few lenders will dip below 4% for ten-year funds, for example, but
will offer more interest-only payments for as much as half the loan term.

In addition, 30-year amortization schedules are common - especially with
banks and conduits.
Higher proceeds:  75%-80% is the traditional benchmark, but many conduits
offer built-in mezzanine financing to ratchet up the leverage above such
levels, as long as some debt coverage is available (1.15-1.20X minimum) and
cash-flow growth is demonstrable as with lodging and apartment properties. 

Loan Structure: Lenders are willing to consider funding full proceeds on
almost stabilized properties (especially with respect to multifamily) if
there is a positive leasing trend. T-3 underwriting is no longer, "a must."
Broader property types:  Parking garages, self-storage, mixed-use, mobile home parks, owner-occupied credit, lodging and health care projects are some of the property types now in vogue in addition to conventional deals, namelymultifamily, retail, industrial and office assets. 

 Pricing is also very competitive for such properties and in some cases comparable to conventional types especially with low leverage requests.

Recourse:  Banks normally require recourse and most other lenders need "warm
bodies" on the carveouts of fraud, waste and mismanagement.   In select
instances, such lenders will partially, or fully, waive recourse for the
right sponsorships with strong credit histories, etc.

Flexibility:  Penalty-free partial payoffs, limited reserve requirements,
potential availability of extra proceeds based future performance, reduced
/capped legal fees, floor removals on floating rate loans are just some of
the negotiable options. 

Jeanne Peck, director of The Real Estate Capital Institute, states "Summer
money is hot.   Lenders are offering all types of deals and everyone's
asking for a second look so as to stay in the race with no signs of easing.
Borrowers rule..."
The Real Estate Capital Institute(r) is a volunteer-based research
organization that tracks realty rates data for debt and equity yields. 

 The Institute posts daily and historical benchmark rates including treasuries,
bank prime and LIBOR.  Furthermore, call the Real Estate Capital RateLine at
7RE-CAPITAL (773-227-4825) for daily rate updates.

The   Real Estate Capital Institute(r)
3517 West Arthington Street
Chicago, Illinois USA 60624
Contact: Jeanne Peck, Executive Director

JLL Completes $13.9 Million Sale of Chandler Corporate Center I in Phoenix, AZ

Dennis Desmond
PHOENIX, AZ – Capital markets experts in the Phoenix office of JLL have completed the $13.914 million sale of Chandler Corporate Center I, a 67,561-square-foot Class A office property in Chandler, Arizona. The sale price breaks the $200-per-square-foot mark for suburban office space—a significant indicator according to JLL.

JLL Senior Managing Director Dennis Desmond represented the property seller, Chandler HFP, LLC, an affiliated entity of Held Properties, a California real estate development firm.

Palisades Capital Realty Advisors is the property buyer. JLL Managing Director Dave Seeger serves as the project’s exclusive leasing broker and partnered with Desmond to market the property for sale.

“This building came out of the ground in 2008 and has outperformed the Phoenix and Chandler markets ever since,” said Desmond. “This includes through the toughest office market recession we’ve ever experienced. That is evidence of the strength of the Chandler market and was a tremendous draw for investors looking for stable acquisition properties located in high-growth markets.”

Dave Seeger
According to JLL research, in the four years from 2009 to 2012, Chandler was responsible for 66 percent of Greater Phoenix’s total office space absorption. 

At year-end 2013, Chandler Corporate Center I was only 8.5 percent vacant, compared to an overall Chandler submarket office vacancy rate of 13.9 percent and an overall Phoenix office market vacancy rate of 23.9 percent.

“When it comes to the velocity of our recovery, Chandler is definitely one of our market’s bright stars,” said Seeger.

Chandler Corporate Center I is located at 585 N. Juniper Drive in Chandler, northwest of Chandler Boulevard and McClintock Drive, and with direct access to the Loop 101 and Loop 202 freeways, and the burgeoning Price Road technology corridor. 

The two-story building totals 67,561 square feet with a 6.63/1,000 parking ratio, modern office construction and benefiting from the area’s highly educated labor pool.
JLL will retain the leasing assignment at the property and assume the property management responsibility.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page:

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

Stacey Hershauer
Marketing & Public Relations
(480) 600-0195

Amata Office Centers Hosts Open House Benefitting the Israel Idonije Foundation; Event raises $9,000 to support youth programming for children in underserved communities

Israel 'Izzy' Idonije
(CHICAGO, IL) July 2, 2014 – Continuing its support of the Israel Idonije Foundation, Amata Office Centers, in collaboration with several of its shared office clients, hosted an open house to benefit the Chicago-based foundation and its work in disadvantaged communities.

The event, which took place on Thursday, June 26, also celebrated the recent opening of Amata’s new shared office center at 150 S. Wacker Drive, its sixth location in downtown Chicago.

“At Amata, we value the long-term relationships we develop with our clients, and this event is a perfect example of everyone coming together to support a good cause,” said Ron Bockstahler, Amata’s CEO and co-founder. “The Israel Idonije Foundation is a longtime tenant that we’ve supported for several years, so we were ecstatic to have them be a part of our grand opening celebration.”

Ron Bockstahler
The open house, which took place at Amata’s new center on the 24th floor of 150 S. Wacker, featured a ribbon-cutting ceremony, raffle and special appearance by Chicago Bears defensive end veteran Israel “Izzy” Idonije, who was on hand to take photos, sign autographs and share his journey in sports, entrepreneurship and philanthropy through his namesake foundation.

Guests also enjoyed a special “Taste of Soldier Field” menu, cocktails and live music from Forrest Weeks of Guitar Chicago, an Amata client. Photography was provided by D.W. Johnson Photography, another Amata client.

As part of the event, Amata raised $9,000 to support the Israel Idonije Foundation’s youth programs, which are designed to help underprivileged children develop social and emotional life skills. The organization works with children in Chicago; Winnipeg, Canada; and West Africa – all places Idonije has called home.

“Amata’s services have been invaluable to my work off the field, making it easy for me to run the foundation and multiple businesses from a single space,” said Idonije.

Forrest Weeks
 “Over the years, we’ve received support not only from Amata but also from our fellow tenants, whether it be through donations or time spent volunteering at one of our many community events. This collaboration and team mentality is part of what drew us to Amata and reflects the overall mission of our organization.”

A native of Lagos, Nigeria, Idonije moved to Winnipeg when he was just four years old. The son of Christian missionaries, he spent much of his youth volunteering in the community with his parents, who founded a local charity that distributed food to families in need.

Idonije also volunteered through the local YMCA and, during his time as a star athlete at the University of Manitoba, participated in an after-school program at a nearby elementary school.

Idonije was drafted into the NFL in 2003 and, after several successful seasons with the Chicago Bears, used his celebrity status to launch the Israel Idonije Foundation in 2007. To date, the organization has served more than 6,000 children through its community-level initiatives, which include after-school programs, sports camps and medical missions to Africa.

Camilla Parker Bowles
Idonije has received numerous awards and honors for his years of community service, including a recent induction into the Order of Manitoba, the highest accolade the province bestows on its citizens, in a ceremony that included Prince Charles, the Prince of Wales, and his wife, Camilla Parker Bowles, the Duchess of Cornwall.

Earlier this month, Idonije became the first professional athlete to receive an honorary degree from the University of Manitoba.

Established in 2002, Amata is Chicago’s largest privately owned office suites provider. Its newest center at 150 S. Wacker Drive features more than 50 private office suites, several state-of-the art conference rooms and a spacious café and lounge, among other amenities.

Since opening the center in May, Amata has leased 64 percent of the private office space. For more information about Amata or to inquire about their new center, call (877) 262-8204 or visit

Prince Charles
Additional information about the Israel Idonije Foundation, including instructions on how to volunteer or make a donation, can be found on the organization’s website:

The Israel Idonije Foundation is a registered 501(c)3 non-profit organization that seeks to extend positive, life-changing opportunities to families and individuals in economically disadvantaged communities.

 The foundation promotes the pursuit of education and knowledge, while providing programs for our youth and community members, in hope that they may actualize and maximize their full potential.

Amata Office Centers is a Chicago-based office space provider specializing in real and virtual offices and conference room rentals. Founded in 2002, Amata offers an array of full- and part-time office solutions to businesses of all sizes, including solo practitioners and startups, as well as large corporations looking to establish sales outposts in Chicago.

With six state-of-the-art locations to choose from in the city’s central business district, all with easy access to public transportation, Amata offers flexible terms to allow businesses to change and grow as needed.

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

Kelly Shumaker at
(312) 267-4519 or; or Abe Tekippe at (312) 267-4528 or

Faris Lee Investments Completes $7.64 Million Sale of Retail Center in Lake Forest, CA

Matthew Mousavi
IRVINE, CA  – Faris Lee Investments, a leading retail advisory and brokerage services firm, has completed the $7.64 million sale of Foothill Center, a 19,400-square-foot multi-tenant shopping center located in the south Orange County city of Lake Forest. 

The center is 95 percent occupied with tenants including Baja Fresh, Enterprise Rent-A-Car, and Wasabi Sushi.

Matthew Mousavi and Patrick Luther of Faris Lee Investments represented the seller, The Mayfield Trust out of Los Angeles. The China-based buyer represented itself in the transaction. 

The sale price had an in-place cap rate of 4.81 percent, a record low for a non-anchored retail strip center sale in south Orange County according to CoStar.

“Faris Lee conducted an extensive marketing campaign to target foreign investors, particularly the Asian investor,” noted Mousavi, senior managing director with Faris Lee Investments. “We have a proprietary database of Asian investors, brokers, asset managers, and other gatekeepers to this highly active buyer pool.”

Patrick Luther
Mousavi added: “We positioned the property as a unique opportunity to acquire a self-contained strip center in a master-planned community with upside potential through property improvements and leasing up of the remaining space, as well as by bringing rents up to market rates as the current leases expire within the tenant base.”

The firm managed a complicated loan defeasance on the property. The existing 10-year conduit loan had a near-term maturity in 2016, and either needed to be assumed or defeased at a high cost. Faris Lee was able to source multiple buyers willing to assume the existing debt and defease the loan. Ultimately, the buyer paid for the defeasance and all its related costs and fees.

 Built in 1990 and situated on 2.47 acres, the center is located just north of Interstate 5 and Highway 241 at 20641-20671 Lake Forest Drive. 

Foothill Center is well-located in a high barrier to entry location that not only has a strong surrounding residential population of more than 102,000 people within a 3-mile radius, but also has a sizeable daytime employee population of an estimated 9,800 employees. The property’s location is also complemented by other nearby national retailers including The Home Depot, Target, Carl’s Jr., Regal Cinemas, and Staple

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

Darcie Giacchetto
Spaulding Thompson & Associates

Marcus & Millichap Hires Veteran Office Property Investment Team for Atlanta, GA Office

Tanya Rader

ATLANTA, GA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada has hired a long-standing team of office and industrial property specialists in Atlanta, according to Alan L. Pontius, senior vice president and national director of Marcus & Millichap’s National Office and Industrial Properties Group.

            Thirty-five year veteran Paul Johnson leads the team, which includes Gary Lee, Robert Johnson, Korey Prefontaine and Tanya Rader.

Paul Johnson, Robert Johnson and Lee will be senior directors of Marcus & Millichap’s National Office and Industrial Properties Group. Prefontaine joins as director and Rader as analyst.

            “This dynamic group of seasoned investment professionals will be a tremendous asset to Marcus & Millichap and a great resource for our clients in Atlanta and throughout the Southeastern region,” says Pontius.

Paul Johnson
            In their new posts, the team will continue to focus on office and industrial property investment sales on behalf of institutional and private investors.

            “We were drawn to Marcus & Millichap by the high level of energy the firm brings to the market, its extensive local and national management support, tools and infrastructure, and the strength of its investment sales platform.

“The firm’s unparalleled access to both private and institutional capital and its collaborative working environment are truly unique,” says Paul Johnson.

Bob Johnson
            Prior to joining Marcus & Millichap, Paul Johnson was a senior vice president with JLL Capital Markets Group. He has also been a senior vice president of investment sales with the Grubb Ellis Company, a managing partner with Sperry Van Ness and was a founder/manager of Atlanta Real Estate Partners.

            Gary Lee, CCIM, also a former senior vice president with JLL Capital Markets Group, has been a managing director and principal of investment sales with Cassidy Turley, a senior vice president of investments sales with Carter and a vice president of investment sales with CB Richard Ellis.

Gary Lee
            Robert Johnson was also a senior vice president with JLL Capital Markets Group. He held the position of senior vice president with the Grubb Ellis Company, has been a senior vice president/managing partner with Sperry Van Ness and a senior vice president/managing partner with Atlanta Real Estate partners.

            “We are very excited about this great addition to our Atlanta office,” adds Michael Fasano, first vice president and regional manager of Marcus & Millichap’s Atlanta office.

Korey Prefontaine
“The group brings with it an outstanding track record of success and long-standing relationships with many of the area’s most prominent institutional and private investors. Their presence expands our base in Atlanta and allows us to extend our services to more clients throughout the Southeast.”

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

 Gina Relva
Public Relations Manager
(925) 953-1716

HFF New York expands investment sales force with the hire of industry veteran Eric Michael Anton

Eric Michael Anton
NEW YORK, NY – HFF announced that power broker Eric Michael Anton has joined the firm’s Manhattan office as a senior managing director focused on investment sales in the New York metropolitan area.

Mr. Anton has more than 22 years of investment sales/capital markets real estate experience and has completed more than $7 billion in transactions during the course of his career.  He joins HFF from Brookfield Financial where he spent the last three years as a managing partner in the New York office.

“Eric is joining HFF New York at a time when its presence in the market is at a historic high.  

"The addition of Eric Anton will help us significantly, towards our goal of growing market share in New York.  We are excited to have Eric support our investment sales team,” said Andrew Scandalios, senior managing director and co-head of HFF’s New York office. 

Andrew Scandalios
Anton who recently sold a $105 million property in the Meatpacking District said, “HFF is one of the top firms nationwide for investment sales and debt/equity placement, and I am eager to provide my current and future clients the best resources available in the capital markets industry.”

 In addition to investment sales, Anton has a long and proven track record of recruiting and developing new and young transactional talent.  Mr. Anton stated, “I enjoy building teams and especially relish mentoring the next generation of real estate specialists—at HFF we have a core of great young talent and I look forward to making the New York City investment sales team into the dominant player in the market.” 

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
tel (main) 617-338-0990 | (direct) 617-848-1572 | cel 617.543.4873 |

HFF closes $9.35 million sale of Lovejoy Village in Atlanta MSA

Lovejoy Village retail center, Jonesboro, GA
ATLANTA, GA – HFF announced it has closed the sale of Lovejoy Village, an 84,711-square-foot, grocery-anchored retail center in Jonesboro, Georgia.

                HFF marketed the property on behalf of the seller, Principal Real Estate Investors. Phillips Edison-ARC Shopping Center REIT purchased the asset for $9.35 million free and clear of debt.

                Lovejoy Village is located at 10375 U.S. Highway 41 about 20 miles south of downtown Atlanta in Jonesboro.  Completed in 2001, the property is 88 percent leased to tenants including Kroger.

                The HFF investment sales team representing the seller was led by managing directors Richard Reid and Jim Hamilton.

For more information on Phillips Edison-ARC Shopping Center REIT Inc., please visit the company’s website at

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
tel (main) 617-338-0990 | (direct) 617-848-1572 | cel 617.543.4873 |

HFF closes sale of Southside at McEwen in Nashville, TN

Jim Hamilton
ATLANTA, GA – HFF announced it has closed the sale of Southside at McEwen, a trophy, high-end, grocery center anchored by Whole Foods in Nashville, Tennessee.

HFF marketed the property on behalf of the seller, Amstar. The buyer and pricing were not disclosed.

Whole Foods Market is the largest grocer of natural and organic foods in the United States and is one of the most sought after grocers in the world.

The property is located in the Cool Springs submarket, which is the dominant high-end business, shopping and entertainment district in the Nashville MSA. 

The property was completed in 2012 and features a number of high end retailers including Whole Foods, lululemon, fab’rik, charming Charlie, BrickTop’s, Pei Wei and Mountain High Outfitters.

Richard Reid
                The HFF investment sales team representing the seller was led by managing directors Jim Hamilton and Richard Reid and senior managing director Mark Sixour.

                Established in 1987 and headquartered in Denver, Colorado, Amstar is a real estate investment manager that acquires, develops and manages office, multifamily, retail, hotel and industrial properties in select U.S. and international markets. 

Originally formed to  invest and manage the real  estate allocation of a large family office client, Amstar began expanding its capital strategy nearly a decade ago and has grown to more than $2.4 billion in assets under management (as of December 31, 2013). 

Today, Amstar is proud to provide a high degree of focus and attention to its client relationships, counting among them leaders in the private and institutional investment community. 

Mark Sixour
  Amstar’s clients originate from across the globe and include U.S. and European institutions, insurance companies, private banks, funds of funds, and other family offices.

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
tel (main) 617-338-0990 | (direct) 617-848-1572 | cel 617.543.4873 |

HFF arranges $65 million financing for The View in Arlington, VA

The View apartments, 4000 Wilson Boulevard
Arlington, VA

WASHINGTON, D.C. – HFF announced it has arranged $65 million in financing for The View, a 17-story, 257-unit, trophy apartment tower in the Liberty Center enclave at the Ballston Metro Station in Arlington, Virginia.

HFF worked exclusively on behalf of Ashton Park Associates III, LLC, an affiliate of The Shooshan Company, to place the 15-year, fixed-rate loan with Prudential Mortgage Capital Company.  

Loan proceeds were used to retire the existing construction debt on the property, which HFF secured for the borrower in 2012. 

The View is located at 4000 Wilson Boulevard in the Rosslyn-Ballston Corridor of Arlington.  Completed in 2014, the LEED Silver luxury property includes studio, one- and two-bedroom units with open floor plans and floor-to-ceiling windows offering unobstructed views of Washington, D.C.

Sue Carras
Community amenities include a concierge desk, fitness center, club room, private courtyard, movie screen and common area rooftop with plunge pools. The property also includes 9,000 square feet of ground-floor retail space with outdoor café seating. 

The View is the residential cornerstone of the second phase of Liberty Center, a 2.3 million-square-foot, mixed-use project that has achieved Arlington’s first LEED Gold certification for a neighborhood development. 

Upon completion, the transit-oriented, nine-building Liberty Center development will include hotel, retail, office and multi-housing components centered on open public space. 

The HFF debt placement team was led by Sue Carras, Walter Coker and Brian Crivella.

“The permanent loan for this property was secured while it was still in lease-up to reduce interest rate risk and to take advantage of historically low interest rates,” commented Coker.

Walter Coker
Founded in 1986, The Shooshan Company is a privately owned investor and full-service developer, leading innovative real estate projects built on integrity and community commitment.

 The Shooshan Company has now planned, developed and invested in more than three million square feet of mixed-use space in Arlington, including some of the market’s most prominent office buildings, high-end residential high-rise buildings and most notable retail locations in Northern Virginia.

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 |

PCCP, LLC Provides $30.3 Million Loan to Sage Hospitality for the Acquisition and Renovation of Marriott Minneapolis Southwest

John Randall
 New York, NY – PCCP, LLC announced it has provided a $30.3 million loan commitment to a venture led by Sage Hospitality for the acquisition and renovation of Marriott Minneapolis Southwest, a 321-key full-service hotel 12 miles southwest of Downtown Minneapolis in Minnetonka, MN.

Built in 1988, Marriott Minneapolis Southwest is a 16-story hotel with more than 14,500 square feet of meeting facilities, over 4,700 square feet of function space, a restaurant, lobby bar/lounge, fitness center, and indoor pool.

 “This is our first transaction with Sage Hospitality and we are pleased to be a part of this acquisition with such an experienced owner and operator,” stated John Randall, senior vice president.

“The hotel has value-added potential as the new owner plans on making improvements in management and renovation. This, in combination with a strong local market that continues to thrive and grow, presents a promising long-term opportunity.”

 The new owner has plans to invest nearly $10 million to enhance management and staffing of the hotel as well as to implement a full renovation of the hotel rooms, function spaces, public restrooms, lobbies and elevator cabs.

Situated on just over ten acres at 5801 Opus Pkwy, the hotel is located in the affluent Minneapolis submarket of Minnetonka and is a part of the 640-acre Opus 2 Business Park, the area’s largest employment center.

Additionally, it is the only full-service hotel within the business park and sits directly across the street from the world headquarters of United Health Group, one of the largest public companies in the U.S. in terms of revenue.

 The hotel also offers excellent visibility from Highway 169 and is close to Interstate 494.

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

Darcie Giacchetto
Spaulding Thompson & Associates

Charles Dunn Company Completes $2 Million Sale of Multifamily Property in Santa Monica, CA

Kimberly Roberts Stepp

 LOS ANGELES, CA, July 2, 2014 – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $2 million sale of a fully occupied eight-unit multifamily property located near Michigan Avenue at 1811 19th Street in Santa Monica, Calif.

Kimberly Roberts Stepp, senior managing director with Charles Dunn Company, represented the sellers, two Los Angeles-based family trusts. The buyer was a private investor from Los Angeles who was represented by Wes Wellman of Wellman Realty Company. The transaction closed at a 4.3 percent cap rate and a per-unit price of $250,000. 

“The Santa Monica apartment market is strong with investors waiting on the sidelines to buy assets such as this one,” said Stepp. “This property offered the buyer a significant upside and a value-add opportunity to reposition the property over the next few years.”

Built in 1960, the property includes seven two-bedroom/one-bathroom units and one studio unit. It is located near the future terminal of the much-anticipated light rail line which is expected to be completed in 2015.

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

Darcie Giacchetto
D.G. Communications, Inc.


Hold-Thyssen Lands Three New Tenants at TD Bank Building in Winter Garden, FL

Therese Taylor

Winter Park, FL and Winter Garden, FL --- Hold-Thyssen, Inc., a commercial real estate services firm based in Winter Park, recently negotiated three new leases in the TD Bank Building at 12200 W. Colonial Drive in Winter Garden.

 R. Anthony Fisher, vice president of Hold-Thyssen, Inc. said Leasing Agent Therese Taylor negotiated all three transactions representing the landlord, 12200 W. Colonial Drive LLC based in Portland, Ore.

 Tenant Scholastic Insurance of Florida LLC leased 2,050 square feet.  

 Two of the new lease agreements include executive suite tenants – Lotus Financial Services Group and Statewide Permit Service, Inc. who assists builders and contractors obtain permits.

Earlier this year Taylor completed ten other lease agreements in the TD Bank Building at 12200 W. Colonial which is currently 85 percent leased, up from 70 percent under Hold-Thyssen’s watch.

 Hold-Thyssen 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