Saturday, August 9, 2014

HFF secures joint venture equity and financing for 6-property multi-housing portfolio in Texas


Douglas Opalka
AUSTIN, TX – HFF announced it has secured joint venture equity and financing for a six-property multi-housing portfolio in Texas.

HFF worked on behalf of Commerce Capital Partners, LLC (ComCapp) to secure joint venture equity through Harbert United States Real Estate Fund V (HUSREF V).  

In addition, HFF placed six separate 12-year, four-year, interest only, Fannie Mae loans with M&T Realty Capital Corporation.  The capitalization will facilitate property improvements and the implementation of ComCapp’s repositioning plan for the properties.

The HFF debt and equity placement team representing ComCapp was led by associate director Robert Wooten, senior managing director Doug Opalka and managing director Matt Kafka.

Founded in 2007, ComCapp is a private real estate management and investment firm focused on commercial real estate in the Sun Belt – primarily Texas.  ComCapp seeks value-add and opportunistic investments where they can execute a thoughtful property enhancement plan by making both physical improvements to assets and implementing superior management practices. 


The firm’s principles have been active in commercial real estate since 1984 and currently have ownership interest in more than sixty properties comprising more than 16,000 apartment units and 3.5 million square feet of commercial space in eight states.

HUSREF V is sponsored by Harbert Management Corporation (“HMC”).  

HMC, an alternative asset management firm with approximately $4 billion in assets under management as of June 1, 2014, is a privately owned firm formed in 1993 to sponsor alternative asset investment funds. 
HMC's real estate group, together with its sponsored funds, has owned, developed and managed multifamily, office, industrial, retail and self storage properties throughout the United States. 

 HMC's real estate group has a history of identifying real estate investment opportunities through its network of long-term, strategic relationships.  HUSREF V's approach is hands-on, targeting properties that the HUSREF V Investment Team believes are undervalued, and where value can be created through focused operational management.  Additional information about HMC can be found at www.harbert.net.
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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 | www.hfflp.com


HFF arranges $29 million financing for Victoria Nursing and Rehabilitation Center in Miami, FL


Jim Dockerty

 MIAMI, FL - HFF announced it has arranged $29 million in financing for the Victoria Nursing and Rehabilitation Center, an 85,770-square-foot skilled nursing facility in Miami, Florida.

HFF worked on behalf of the borrower, Victoria Nursing and Rehabilitation Center, Inc., to secure the 15-year, fixed-rate loan through Ocean Bank.

Victoria Nursing and Rehabilitation Center is located at 955 NW 3rd Street just south of the Miami River. The property encompasses five floors within the eight-story Victoria Medical Center. Originally constructed in 1971, the property underwent a major renovation in 2001 and features 264 beds, 196 of which are private. 

The HFF team representing the borrower was led by managing director Jim Dockerty and senior real estate analyst Scott Wadler.

“The Victoria Nursing Center is a five-star, skilled nursing facility and the professional team at Ocean Bank provided a competitively priced and creative financing solution for our client,” according to Dockerty.

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 | www.hfflp.com

HFF arranges $23.8 million acquisition financing for seven-property, multi-state retail portfolio


Jon Mikula
FLORHAM PARK, NJ – HFF announced it has arranged $23.8 million in acquisition financing for a seven-property retail portfolio totaling 99,675 square feet in Maryland, New Jersey and Pennsylvania. 

               Working exclusively on behalf of an affiliate of Lakewood, NJ-based Paramount Realty Services, Inc., HFF secured the seven-year, fixed- rate loan through Investors Bank. 

The properties included in the financing are: Bricktown Center in Bricktown, New Jersey; Brookhaven Plaza in Brookhaven, Pennsylvania; Howell Plaza in Howell, New Jersey; Sea Girt Plaza in Wall, New Jersey; Philadelphia Plaza in Philadelphia, Pennsylvania; Exton Plaza in Exton, Pennsylvania and Owings Mills Plaza in Owings Mills, Maryland. 

  The portfolio was 100 percent occupied at closing by tenants including Best Buy, Staples, three full-service WAWA Convenience stores, JoS. A. Bank, CVS and Santander Bank.

The HFF team representing the buyer was led by senior managing director Jon Mikula and managing director Jim Cadranell.

Jim Cadranell
Paramount Realty Services, Inc. was founded in 1994 as a full-service commercial real estate firm specializing in retail real estate in the Northeast. 

Paramount Realty owns and operates more than five million square feet of shopping centers throughout New Jersey, Connecticut, Massachusetts, Maryland and eastern Pennsylvania.


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 San Francisco hires Ben Bullock as a director to focus on office investment sales


Ben Bullock
SAN FRANCISCO, CA – HFF announced that Ben Bullock has joined the firm as a director in its San Francisco office to focus on office investment sales transactions in northern California.

Mr. Bullock has been involved in more than $3.4 billion in total closed transaction volume during his six year commercial real estate career.  He joins HFF from JLL, where he was a vice president in the firm’s capital markets group. 

Prior to that role, he worked for Newmark Knight Frank Cornish & Carey Commercial Capital Group.  Mr. Bullock began his career as an analyst at Eastdil Secured. 

  He is a licensed real estate salesperson in the state of California, a member of Urban Land Institute and a member of NAIOP’s San Francisco and Silicon Valley Chapters.  Mr. Bullock graduated from Pepperdine University with a Bachelor of Science degree in Business Administration.

“HFF is excited to have Ben join our growing West Coast investment sales team.  He has a thorough knowledge of the northern California office market and strong relationships with many of the local and national owners, developers and REIT’s,” said Michael Leggett, senior managing director and co-head of HFF’s San Francisco office.

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 closes the $38.9 million sale of Downtown Dadeland in Miami, FL


Daniel Finkle
MIAMI, FL – HFF announced  the closing of the $38.9 million sale of Downtown Dadeland, a 127,240-square-foot retail lifestyle center in Miami.

               HFF marketed the property on behalf of the seller, Downtown Dadeland Retail, LLC.  A joint venture between Duncan Hillsley Capital and Pebb Capital purchased the unencumbered property for $38.9 million.

               Downtown Dadeland is located on 7.5 acres in the epicenter of the Dadeland “Triangle,” an urban infill location bounded by three of Miami’s most heavily trafficked thoroughfares and directly across from the Dadeland Mall.  The property was completed between 2007 and 2009 and includes tenants such as West Elm, HCA Medical, Chili’s Bar & Grill, Paul Mitchell Academy, Men’s Wearhouse and Panera Bread. 

               The HFF team representing the seller was led by managing director Luis Castillo, senior managing director Daniel Finkle and senior analyst Nat Scarmazzi.

Luis Castillo
“The opportunity to acquire an urban Miami retail lifestyle center with significant value enhancement potential drove incredibly strong investor interest for Downtown Dadeland,” Castillo said.  “The new owner is an experienced operator and will enjoy tremendous growth in NOI and value as the property continues to stabilize.”

Duncan Hillsley Capital LLC (DHC) is a fully integrated, private commercial real estate investment company based in Boca Raton, Florida. 

  DHC was formed in January 2009 to capitalize on the dislocation of the commercial real estate market by acquiring distressed and underperforming assets as well as assisting other investors in restructuring and recapitalizing their portfolios.

Pebb Capital is a wholly owned real estate private equity firm based in Boca Raton, Florida.  Formed in 2014 by Todd and Jeff Rosenberg, Pebb Capital has a dedicated capital allocation and uses its 40 year real estate investment, development and management experience to deploy that capital with high quality operating partners in all types of real estate asset classes throughout the country under a variety of joint venture structures. 

Nat Scarmazzi
HFF’s investment sales team secured more than $1.68 billion in sales of retail assets nationally through the end of the second quarters of 2014.  In Florida, HFF closed more than $539 million in retail transactions across all capital markets platforms during the same period.


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 secures $4.1 million in joint venture equity for industrial acquisition near San Diego, CA


John Chun
IRVINE, CA – HFF announced it has secured $4.1 million in joint venture equity for the acquisition of Southrail Business Park, eight multi-tenant industrial buildings totaling 128,294 square feet in Chula Vista, California.

               HFF worked on behalf of the buyer, Focus Real Estate LP, in arranging the joint venture equity with a regional joint venture equity fund.  Equity proceeds were used to purchase the property.

               Southrail Business Park is an industrial flex facility located in south San Diego County approximately 10 minutes from downtown San Diego.  The park is half a mile from I-5, which provides easy access to I-805 and I-905.  It is also within walking distance to the nearest trolley station and neighboring retail. 

Building features include dock-high and grade-level loading, professional landscaping, street frontage and visibility and no through traffic due to the cul-de-sac. 

Southrail’s eight buildings are 98 percent leased to 26 tenants, including PowerSports Group, Toleeto Fasteners Intl, Delphius Engineering and Bay Bridge Brewery.              

The HFF team representing Focus Real Estate was led by director John Chun.

“Southrail Business Park represented a rare opportunity to acquire a high-quality industrial park in one of the tightest industrial markets in San Diego county with strong barriers to entry due to a lack of developable land parcels,” Chun said.

Richard Ortwein
Focus Real Estate LP, founded in 2000, is headed by real estate executives Richard Ortwein, Michael Ortwein and Jack Kappe. The company’s primary focus is working with owners, investors and users to identify, acquire, and oversee all aspects of value-add investment and development. 

Focus Real Estate has acquired or developed over 1.5 million square feet in 50+ office and industrial buildings in Southern California with private and institutional investors.  Focus draws upon the deep experience of its partners who have a combined 80+ years of experience and have acquired or developed over $2.5 billion in real estate during their careers.

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 closes $2.925 million sale of Emerald Park Apartments in East Portland, OR

 

Emerald Park Apartments, East Portand, OR
PORTLAND, OR – HFF announced it has closed the sale of Emerald Park Apartments, a 44-unit multi-housing community in the Centennial neighborhood of East Portland, Oregon.

               HFF marketed the property on behalf of the seller, a private investor.  A private, California-based company purchased the asset for $2.925 million free and clear of existing debt.

               Emerald Park Apartments is located at 646-664 SE 148th Avenue near the Glendoveer Golf Course between Route 26 and Interstate 84 about eight miles from downtown Portland.  The property consists of 10 buildings with one-, two- and three-bedroom units averaging 751 square feet each.  Community amenities include a barbeque area and laundry facilities. 

               The HFF investment sales team representing both the seller and the buyer was led by associate directors Tyler Linn and Nick Klein.

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 closes $2.975 million sale of northeast Portland, OR multi-housing community

  
Nick Klein

 PORTLAND, OR – HFF announced it has closed the sale of Highlander Apartments, a 38-unit, multi-housing community in northeast Portland, Oregon.

               HFF marketed the property on behalf of the seller, Rael Development Corporation.  A privately-held California company purchased the community for $2,975,000 million, or $78,289 per unit.

               Highlander Apartments is a garden-style community consisting of 16 one-bedroom units and 22 two-bedroom units that are 100 percent leased.  Community amenities include a courtyard, garden views, new flooring and state-of-the-art security cameras. 

The property is located in Portland’s Centennial neighborhood at 1217 NE 122nd Avenue, which is a little more than half a mile to the nearest MAX station and within blocks of cafes, restaurants, grocery stores, medical facilities, schools and shopping, giving the community an above-average walk score of 63.  

Highlander Apartments is approximately one mile from Interstate 84 East and a little more than two miles from Interstates 84 West and 205.

               The HFF investment sales team was led by associate directors Nick Klein and Tyler Linn.

Tyler Linn
“We felt that we could push value by creating a competitive marketplace for the Highlander property,” Klein said.  “We emphasized the recent capital improvements and strong occupancy in the submarket in order to procure multiple offers from a wide variety of qualified buyers.”

Rael Development Corporation is part of RAELCORP, a multi-faceted real estate company comprised of fully integrated real estate development, investment and management businesses. 

  The company was founded in 1977 and operates the privately-held Rael Development Corporation (development) and RDC U.S. Real Estate Funds (value-add and core investment funds).  

RAELCORP maintains offices in Newport Beach, California and Dallas, Texas.  Learn more at www.raelcorp.com.

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

Chatham Lodging Announces Monthly Dividend

  

PALM BEACH, FL —Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale extended-stay hotels and premium branded select-service hotels,  announced that its board of trustees has declared a monthly common share dividend of $0.08 for August 2014.  

The common dividend is payable September 26, 2014, to shareholders of record on August 29, 2014.

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

Patrick Daly
Account Supervisor
Daly Gray, Inc.
Office:  (703) 435-6293

Cell:  (703) 300-8289