Thursday, April 30, 2015

Meta Housing Corp. Completes its First Family Arts Colony in San Pedro Neighborhood of Los Angeles, CA


Meta Housing Corp.'s new, 49-unit arts-focused 
affordable apartment community in
the San Pedro neighborhood of Los Angeles, CA
LOS ANGELES, CA – Meta Housing Corporation has completed its first “family arts colony” apartment project - a new, 49-unit arts-focused affordable apartment community that integrates artistic live/work space in the San Pedro neighborhood of Los Angeles, California. 

The community, the Pacific Avenue Arts Colony, is the fourth arts colony project developed by Meta Housing, and the first that is open to non-senior residents.

Located at 303 South Pacific Avenue in San Pedro, California, the Pacific Avenue Arts Colony is comprised of affordable one-, two-, and three-bedroom floor plans.  More information is available at www.pacificavenueartscolony.com.

“Our senior arts colony apartment communities have proven successful in supporting and encouraging imaginative thinking and meaningful creative achievement among residents, while also bringing affordable housing and thoughtful architecture to many Cities,” says Kasey M. Burke, President of Meta Housing Corporation.


Kasey Burke, President of Meta Housing Corp. (center) and community members
 cut the ribbon at the Pacific Avenue Arts Colony Grand Opening event on April 25.

“The Pacific Avenue Arts Colony will deliver a new level of creativity and connection to the San Pedro community,” continues Burke.  “By focusing on integrating affordable housing and studio space for artists, we are supporting the City’s goals of attracting new artists and patrons to Downtown San Pedro.”


(From left) Chris Maffris, Senior Vice President, Meta Housing Corporation,
Sandra Gibbons, Vice President/CFO, Western Community Housing, Inc.,
Councilman Joe Buscaino, City of Los Angeles, 15th District,
Tim Carpenter, Founder, EngAGE and Mee Semcken, 
Vice-Chair, DLA/LA  
 were honored 
at the Grand Opening of the Pacific Avenue Arts Colony.

Constructed on a former automotive repair facility lot in the historic core of the City of San Pedro, the 49-unit Pacific Avenue Arts Colony, or “Pac Arts,” offers six ground-floor live/work units for resident artists, and includes a full-scale professional level art gallery space that will encourage connection and collaboration with the nearby arts district.

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

Lexi Astfalk/Jenn Quader
Brower, Miller & Cole

(949) 955-7940

Avanath Capital Management Acquires Affordable/Workforce Housing Portfolio in Orlando, FL and North Carolina for $45.9 Million


John R. Williams
IRVINE, CA – Avanath Capital Management, LLC, a private real estate investment manager, has acquired a two-property, 553-unit affordable housing portfolio in Orlando, Florida and Cary, North Carolina for $45.9 million through an off-market transaction.

Avanath specializes in the acquisition and operation of affordable and workforce housing assets nationwide, with a focus on supply-constrained markets.

“Undersupplied affordable housing markets, particularly in high-growth cities, are experiencing even greater pressure as general multifamily rents continue to rise throughout the nation,” notes John R. Williams, President and CIO of Avanath.

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

Amanda Brenner/ Jenn Quader
Brower, Miller & Cole
(949) 955-7940

Sean Delaney Expands The Mele Storage Group into Midwest Market


Sean Delaney
Tampa, FL – Marcus & Millichap announced that Sean Delaney, First Vice President Investments at Marcus & Millichap will expand the Mele Storage Group brand into the mid-western states.

 Sean will partner with Michael Mele, Senior Vice President Investments and founder of The Mele Group of Marcus & Millichap. Sean will serve as a broker, marketing self-storage properties in the firm’s Chicago office.

In the Mele Group, Sean is joining the industry’s most knowledgeable and experienced self-storage investment team. 




The Mele Group is comprised of the most qualified and highly driven individuals that specialize in investments and provide in-depth and relevant market analysis for self-storage owners and investors.

Michael A. Mele
Sean Delaney joined Marcus & Millichap, the nation’s largest real estate investment services firm, in late 2003 specializing in self storage assets with a focus on the Midwest. In September 2005 he became an Associate of the Firm and in March 2007 reached Senior Associate status.

 In July 2012 he was promoted to Associate Vice President Investments then in July 2013, by vote of the managing directors, given the distinction of Vice President Investments.

 Prior to joining Marcus & Millichap Sean played seven years of professional baseball for the Kansas City Royals and the Saint Paul Saints. 

Sean has successfully facilitated the purchase or sale of roughly $200 million in self storage properties.

Mr. Delaney has been the recipient of the coveted Marcus & Millichap Sales Achievement plaque five times over the course of his career.

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

Michael Mele
Senior Vice President, Tampa

(813) 387-4790

IPA Sells Rare Bayfront Property in Newport Beach, CA for $25.5 Million


The Waterfront, Newport Beach, CA


Stewart I. Weston
NEWPORT BEACH, CA  – Institutional Property Advisors (IPA), a brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, is pleased to announce the sale of The Waterfront, a 17-building, 64-unit, bayfront multifamily community in Newport Beach, Calif.     

IPA senior director Stewart I. Weston represented the seller, BT Real Estate Group. The buyer is Waypoint Property Group.

            “The Waterfront is one of just three bayfront properties in Newport Beach,” says Weston.  

“With approximately 1,000 linear feet of water frontage on Newport Bay, 34 boat slips and a private beach, the asset exhibits an undeniable presence. Revenue enhancement opportunities exist for the new owner through the continuation of the renovation program that began in 2011.”

            The property was built in 1964 at 919 Bayside Drive in Newport Beach overlooking Newport Harbor and across from Balboa Island, which is accessible via a pedestrian bridge. 

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

Gina Relva,
 Public Relations Manager

(925) 953-1716

Peachtree Hotel Group Announces Opening of Hampton Inn & Suites Vero Beach Downtown in Florida


Tammie Taylor

                VERO BEACH, FL,  April 30, 2015—Officials of Peachtree Hotel Group, one of the nation’s fastest growing hotel investment and management platforms, today announced the grand opening of the 90-room Hampton Inn & Suites Vero Beach Downtown. 

Owned by VBH Miracle Mile LLC, and operated by Peachtree, the hotel was conceived by Vero Beach residents Frank Christy, Christy & Associates president, and Keith Kite, managing member of Kite Properties LLC.  The lender for the project is WesBanco, a West Virginia regional bank holding company.

“The Hampton Inn & Suites Vero Beach Downtown is our fifth hotel in Florida, a thriving market we will continue to watch with interest for future investment opportunities,” said Tammie Taylor, Peachtree vice-president of operations. 

 “With our existing Florida portfolio concentration and local market expertise, we expect this hotel to ramp up quickly and become the preferred, select-service destination in the area.”

Situated at 611 20th Place, the three-story hotel is within walking distance of the pedestrian-friendly Miracle Mile and its numerous restaurants, entertainment, shopping and services.  

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

Chris Daly, media
 (703) 435-6293

New Brokerage Firm Heritage Select Real Estate Company Launches to Serve Vacation-Home Market in Illinois’ Starved Rock Country

 
OTTAWA, IL (April 30, 2015) – The development team for Heritage Harbor Ottawa Resort, a marina resort community on the Illinois River in Ottawa, Ill., has announced the launch of Heritage Select Real Estate Company, a new residential and limited commercial brokerage firm primarily serving the second- and vacation-home market in Starved Rock Country, a recreational region 90 minutes southwest of Chicago. 

The new firm offers full brokerage services for vacation homes in the area, including new, re-sale and lease listings at Heritage Harbor Ottawa Resort as well as select property listings outside the resort in Starved Rock Country. 

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

Sarah Lyons, slyons@taylorjohnson.com (312) 267-4520

Kim Manning, kmanning@taylorjohnson.com (312) 267-4527

Marcus & Millichap Arranges $2.8 Million Sale of 10,455-SF Coral Gables, FL Office Building


Douglas K. Mandel
CORAL GABLES, FL, April 30, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of 255 University, a 10,455-square foot office property located in Coral Gables, Fla. 

The asset sold for $2,800,000 representing $267 per square foot.

Douglas K. Mandel, a first vice president investments, Benjamin H. Silver, an associate vice president investments, and Richard Niewiadomski, an associate, in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Coral Gables, Fla.  

The buyer was also a local Coral Gables resident who was in a 1031-exchange.
“Coral Gables has a high demand for executive office suites and per square foot rents for this use are at a major premium,” says Silver. 

  “We received multiple offers on the property and achieved an above market price per square foot for a traditional class-B investment property in this particular area.”

Benjamin H. Silver
Constructed in 1958, 255 University features two floors of office space. The property has had major renovations over recent years, including marble floors, new impact windows and a new roof. 

The property sits at 249-255 University Drive just steps away from Ponce De Leon Boulevard, the major north/south thoroughfare in Coral Gables.


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


Ryan Nee
Regional Manager
Fort Lauderdale, FL

(954) 245-3400

NAI Realvest Negotiates Three Industrial Leases Totaling Over 10,380 square feet at Goldenrod CommerCenter in East Orlando, FL


Kristen Kemp
ORLANDO, FL. --- NAI Realvest recently negotiated industrial leases totaling 10,382 rentable square feet at Goldenrod CommerCenter at 1460 and 1476 Goldenrod Rd. in east Orlando. 

Michael Heidrich, principal at NAI Realvest and associate Kristen Kemp represented the landlord Goldenrod SPE, LLC in a new lease agreement with E & E Property Investment Group LLC d/b/a Epic Orlando Sports for 4,382 square feet at 1476 N. Goldenrod Rd;

Heidrich and Kemp also negotiated a new lease agreement with Goldenrod Luxury Cars, LLC for 2,000 square feet at 1460 Goldenrod Rd. in the CommerCenter.  

Heidrich represented the same landlord in a renewal lease agreement with Class A Carpets, Inc. for the 4,000 square feet they occupy at 1476 Goldenrod Rd.

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


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

Wednesday, April 29, 2015

Meridian Capital Group Arranges $18.2 Million in Bridge Financing for the Acquisition of the Holiday Inn Savannah Historic District Hotel Property in Savannah, GA


Holiday Inn Savannah Historic District Hotel
Savannah, GA
 Boca Raton, FL, April 29, 2015– Meridian Capital Group, America’s most active debt broker, negotiated an $18.2 million bridge loan for the purchase of the Holiday Inn Savannah Historic District hotel property located in Savannah, GA.

The two-year interest-only loan, provided by a balance sheet lender with an exit to CMBS execution, features a floating-rate of 380 basis points over the 30-day LIBOR rate and a one-year extension option. 

This transaction was negotiated by Meridian Capital Group Director, Noam Kaminetzky, who is based in the Company’s Boca Raton, FL office.

The five-story hotel property totals 127 rooms and is located at 15 Martin Luther King Jr. Boulevard in Savannah, GA. The Holiday Inn Savannah Historic District opened in 2007 as a Four Points by Sheraton but underwent a multi-million dollar renovation in 2013 and reopened in April 2014 as a Holiday Inn. Prior to the renovation, the hotel was significantly underperforming compared to the market and there was tremendous upside.

“The borrower is a large hotel operator in the United States and internationally. 

"Obtaining a non-recourse bridge loan provided the sponsor with an opportunity to implement their proven operating methodology and allow the asset to further season. 

"Upon several years of improved operating history, the value created will be substantial and the borrower’s plan of recapitalizing the asset with permanent debt will provide a handsome return for them,” said Mr. Kaminetzky. “This loan closed in 45 days from start to finish, which was a huge accomplishment, considering all the moving parts of the transaction,” he added.

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

Jonathan M. Stern
Managing Director
Meridian Capital Group, LLC
1 Battery Park Plaza, 26th Floor
New York, NY 10004
jstern@meridiancapital.com
Direct: 212.612.0181
Fax: 212.201.5181

MHA Brokers Sales of Two Charlotte, NC Apartment Communities for a Total $39.9 Million


Marc Robinson
CHARLOTTE, NC (April 29, 2015) — Multi Housing Advisors (MHA) has arranged, in separate transactions, the sales of two Charlotte apartment communities for a total of $39.9 million. Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the sellers in the transactions.

Details of the deals are below:

·      White Point Partners acquired the 202-unit Tryon Park at Rivergate, located at 12620 Toscana Way, from Meridia.“There continues to be an incredible demand for quality product, which, in turn, is resulting in more creative deal structures such as this pre-stabilized sale,” McCarley said. 

“The Steele Creek area continues to demonstrate strong fundamentals with limited remaining multifamily development sites resulting in a submarket with very attractive supply-and-demand characteristics.”

·       JEM Holdings acquired the 254-unit Wellington Farms, located at 4700 Twisted Oaks Road, from Wellington United. This transaction was JEM Holdings 6th Charlotte acquisition over the last 18 months.

Jordan McCarley
“Wellington Farms is a well-located asset within Charlotte that caters to multiple rental segments,” McCarley said. 

“We feel strongly that the property will continue to capitalize on the economic momentum of the market and provide sustained growth for new ownership.”


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


Stephen Ursery
The Wilbert Group
404-549-7150 (O) 404-405-2354 (C)

NAI Realvest Negotiates Investment Purchase of Professional Office building at the North End of Downtown Orlando, FL


Kimberly Manson

Jeffrey Tanner
ORLANDO, Fla. --- NAI Realvest recently negotiated the investment sale of a 1,400 square foot freestanding office building at 114 Park Lake St. located just east of N. Magnolia Ave. and north of Colonial Drive in Orlando.  


The NAI Realvest team of Jeffrey Tanner and Kimberly Manson represented the buyer JNRN Properties, LLC of Orlando who paid $425,000 for the professional office building.  


The seller, Park Lake Partners, was represented in the transaction by Savage Properties, Inc.














Berkadia LLC and Three of its Brokers Earn Distinguished CoStar Power Broker Awards for Sales Closed
  
Birmingham, AL --- Berkadia LLC, one of the nation’s largest and most active multifamily investment banking and research companies, was recently honored by CoStar Group, Inc. as one of the top commercial real estate firms in Alabama based on total sales transactions closed during 2014.

David Oakley
David Oakley, principal at Berkadia in Alabama, along with Senior Vice Presidents David Etchison and Royce Emerson, were named among the Top CoStar Power Brokers in the market for achieving the highest transaction volumes in commercial property sales in 2014.

The most significant transactions closed by the Berkadia brokers in 2014 include the Hoover 3 Portfolio with 825 units for $63,347,000; Villas at Bon Secour, a 200-unit upscale apartment property in Alabama’s resort area near the Gulf beaches for $16,600,000 and Chapel Lakes in the Montgomery area with 152 units for $14,400,000.

 “CoStar is proud to honor the firms and brokers who perform at the industry’s highest level each year,” said CoStar Group founder and CEO Andrew C. Florance.











Hold-Thyssen negotiates 13 Leases at Pennock Business Center and Maplewood Plaza in Jupiter, FL totaling over 16,700 Rentable Square Feet 

JUPITER, FL and WINTER PARK, FL -- Hold-Thyssen, Inc., a commercial property firm based in Winter Park, recently negotiated 10 leases in Jupiter for office/warehouse/flex space at Pennock Business Center and three renewal and expansion leases of retail space at Maplewood Plaza representing the Miami-based landlord GECMC 2005.


Therese Taylor

At Pennock Business Center 711 Commerce Way in Jupiter, Hold-Thyssen Leasing Agent Therese Taylor teamed up with Dan Sefjack of Business Real Estate Inc. in Jupiter to complete seven new lease agreements for office/warehouse/flex suites totaling 5,658 rentable square feet, and three lease renewals totaling 4,386 square feet. 


Maplewood Plaza, Jupiter, FL
At Maplewood Plaza, 401 Maplewood Drive, Taylor negotiated three retail lease agreements:  

Brush Strokes and More by Jackie added 1,700 square feet to the 1,700 square feet they already occupied and signed a renewal with the expansion for three years; 

Hometown Cleaners signed a five-year lease renewal for its 1,700 square feet and Luxury Maids who occupies 1,630 square feet at Maplewood Plaza signed a three-year lease renewal.    









Hold-Thyssen negotiates new Five Year lease for office space with International Communications Firm establishing Offices in Lake Mary, FL

WINTER PARK, FL --- Hold-Thyssen, Inc., a commercial property firm based in Winter Park, recently negotiated a new five-year lease agreement for 5,324 rentable square feet at 1485 International Parkway in Lake Mary, bringing the occupancy up in the building from 71 percent to 90 percent.


Darby Hold

Darby Hold, transaction specialist at Hold-Thyssen, negotiated the transaction on behalf of the Austin, Texas-based landlord WC Lake Mary Office, LP. 

Mary Frances West
The new tenant, ZNES Group, LLC., leased Suites 2031 and 2051 in the office building for its excellent location in the high tech corridor of Lake Mary.  


ZNES, a global microwave communications firm servicing the financial, oil and gas and defense industries, was represented in the transaction by senior broker associate Mary Frances West, CCIM at NAI Realvest.



















Broker at NAI Realvest Honored by Central  Florida Commercial Association of Realtors for Community Service Helping the Homeless

ORLANDO, FL -- Veronica Malolos, a broker at NAI Realvest in the Osceola County area was recently honored with the Central Florida Commercial Assn of Realtors 2014 Community Service Award.


Veronica Malolos

Robin Webb, managing director at NAI Realvest, said Malolos received the prestigious award from CFCAR for her advocacy and work with the homeless families and children in Osceola County.

Robin Webb
Most recently Malolos spearheaded several “crockpot drives” for the transitional homeless in the region, enabling children and families to eat healthy while they’re balancing family responsibilities, multiple jobs and lack of kitchen implements.



Malolos, an established leader in Osceola County, is currently an Osceola County Planning Board Commissioner and vice chair of the county’s Affordable Housing Advisory Committee.



 She is also a trustee for the county’s Education Foundation Charter School Board.

She is an alumnus of “Leadership Osceola,” a past president of the Osceola County Assn. of Realtors and is the 2014 District 12 vice president for the state association, “Florida Realtors.” 











Berkadia Negotiates $4 Million sale of Newly Refurbished Element 26 Apartment Community in Birmingham, AL

Birmingham, Ala. --- Berkadia, one of the nation’s largest and most active multifamily investment banking and research companies, recently negotiated the $4,075,000 sale of the recently remodeled 66-unit Element 26 apartment community on 14th Ave. and 17th St. on Birmingham’s south side.

Joshua Jacobs
Joshua Jacobs, investment sales advisor for Berkadia, negotiated the transaction representing the seller, Highland Ridge LLC of Birmingham.

Element 26 LLC, a Birmingham investment group, acquired the property, which was 100 percent leased at the time of the sale.
Jacobs said Highland Ridge renovated all interiors and exteriors at Element 26 and repositioned and rebranded the property, resulting in a sale price of $61,742 per unit.

Arbour Valley will remain as the property manager, Jacobs added. “We continue to see pent-up demand for renovated units in this market, which is certainly encouraging for those considering value-add opportunities.”

Element 26 consists of units averaging just under 650 square feet that rent at an average of $1.11 per square foot.

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


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

Monday, April 27, 2015

Stepp Commercial Completes $2.53 Million Sale of 20-Unit Apartment Property in Downtown Long Beach, CA


425 Lime Avenue Apartments, East Village Arts District, Downtown Long Beach, CA

LONG BEACH, Calif. April 27, 2015 – Stepp Commercial, the leading multifamily brokerage firm in the Long Beach market, has completed the $2.53 million sale of a 20-unit apartment property located at 425 Lime Avenue within the East Village Arts District in Downtown Long Beach.  

Robert Stepp
Robert Stepp, principal, and Michael Toveg, vice president, with Stepp Commercial, represented the buyer, NNC Apartment Venture LLC from Long Beach, as well as the seller, a private investor from Palos Verdes. 

The property closed at a 5.88 percent cap rate.

Built in 1973, 425 Lime Avenue features 15 one-bedroom units and five studio units. The majority of the units offer balconies or patios.

“Stepp Commercial marketed the property as an opportunity to add value by making renovations to the outdated units in order to obtain market rents,” said Stepp. 

“We identified a seasoned buyer – an owner and operator of more than $500 million in multifamily properties nationally – that was willing to assume a loan on the property slightly higher than current rates.”

Toveg noted: “The buyer was attracted to the building due to its East Village Arts District location and plans on a full renovation and repositioning of the property in the coming months.”

Michael Toveg



The East Village Arts District is the name of the eastern half of Downtown Long Beach and is one of the hottest areas in the city. This district is undergoing a growing demand for housing as it provides an eclectic mix of retail, dining, entertainment, and art. 

The property will also see the long-term benefit of being near 

The Current at Shoreline Gateway, a 17-story mixed-use project that will include 223-apartment units and retail, which is also within the East Village and is set to open in early 2016.

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

Darcie Giacchetto

949.278.6224

Sunday, April 26, 2015

RealtyTrac Announces 54 Deals Closed Since Launching Tax, Deed and Mortgage Data File Licensing Business Last Year


Jamie Moyle
IRVINE, Calif.— RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, announced it has closed 54 deals and hired dozens of employees, including multiple data licensing industry veterans, since launching its tax, deed and mortgage data file licensing business in March 2014, when it became one of only three national providers and the first new entrant in the market segment in more than 20 years.

“We are humbled by the industry support we have received over the past year,” said Jamie Moyle, CEO at RealtyTrac.

“While the other two national public record data providers have in the past built a formidable framework around these massive datasets, RealtyTrac has created a whole new game that is unparalleled in the industry. 

"Driven by our quest for real estate transparency, we are empowering our customers with flexible, creative datasets that are easy to deploy across multiple industries.”

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

Jennifer von Pohlmann
949.502.8300, ext. 139

Ginny Walker
949.502.8300, ext. 268

RealtyTrac Reports Volume of Homes Seriously Under Water Increased in First Quarter


IRVINE, CA — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, released its U.S. Home Equity & Underwater Report for the first quarter of 2015, which shows that at the end of the first quarter of 2015 there were 7,341,922 U.S. residential properties seriously underwater — where the combined loan amount secured by the property is at least 25 percent higher than the property’s estimated market value — representing 13.2 percent of all properties with a mortgage.

The share of seriously underwater homeowners increased 0.4 percentage points from Q4 2014 — the first quarterly increase since the second quarter of 20120 — but still down more than 4 percentage points from a year ago.

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

Jennifer von Pohlmann
949.502.8300, ext. 139

Ginny Walker
949.502.8300, ext. 268

Saturday, April 25, 2015

Lincoln Brokers Lease Renewals by Dollar Tree and Hibbett Sports at City Crossing in Warner Robins, GA


Kim Dart
TLANTA, GA – Lincoln Property Company Southeast (Lincoln) has brokered lease renewals by Dollar Tree and Hibbett Sports at the City Crossing shopping center in Warner Robins, Georgia.

Kirk Williams, vice president of retail leasing in Lincoln’s Atlanta office, represented the landlord in the transactions and was assisted by Kim Dart and Morris Srochi of Dart Retail Advisors in the Hibbett Sports deal.

The details of the City Crossing transactions are as follows:

• Dollar Tree extended its lease of 15,600 square feet for 10 years, to 2025.
• Hibbett Sports renewed its lease of 6,000 square feet.

Through its leasing and management of City Crossing, Lincoln has revitalized the center, which totals 190,433 square feet and was built in 2001. After taking over the property as a court-appointed receiver, Lincoln worked on behalf of City Crossing’s ownership to negotiate and rebuild a faulty retaining wall on the property, which removed an impediment to securing leases. The repairs were fully completed in third-quarter 2014.

Kirk Williams
The completion of the repairs resulted in an increase in leasing activity, which has allowed Lincoln to renew and extend several credit tenants such as Michaels, Shoe Carnival, Dollar Tree and Hibbett Sports. 

A new anchor tenant, HomeGoods, has been signed to occupy 22,873 square feet, and this new retailer will open in the fall of 2015, bringing increased traffic to the center. The center’s occupancy rate has improved to 86 percent.

“Like retail markets across the state, the retail sector in Warner Robins continues to improve, and City Crossing offers a prime spot for retailers in the market,” Williams said. 

“Both Dollar Tree and Hibbett Sports recognize the value of being in City Crossing and were eager to remain in this improved, highly visible location.”

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

 Stephen Ursery
  Phone:  +1 (404) 549-7150

JLL Names Patsy Alston Vice President and Director of Marketing and Communications for Atlanta Office


Patsy Alston
ATLANTA, GA – Patsy Alston, a branding, marketing and public relations specialist with more than 15 years of experience in planning and executing communications initiatives, has joined JLL’s Atlanta office as Vice President and Director of Marketing and Communications.

 Alston will design and implement marketing and communication plans to drive demand for the firm’s service offerings and build the JLL brand in the Atlanta market.

Alston joins JLL from Harry Norman, Realtors, where she served as the Director of Marketing and Communications for five years and developed the residential real estate firm’s branding and marketing strategies.

“Patsy brings considerable branding experience as well as excellent execution skills and a collaborative work style,” said Mike Sivewright, JLL’s Atlanta Market Director. 
“The combination of these experiences and her impressive leadership track record will enable Patsy to effectively build upon our brand and market our services across the region.”

For more news, videos and research resources on JLL, please visit JLL’s U.S. Media Center web page.

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

 Stephen Ursery
  Phone:  +1 (404) 549-7150

HFF arranges joint venture equity and debt financing for 2144 California Street in Washington, D.C.


2144 California Street, formerly The Envoy Apartments,
 Kalorama Heights Neighborhood
Washington, DC

WASHINGTON, D.C. – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged joint venture equity and debt financing for the acquisition and redevelopment of 2144 California Street, formerly known as The Envoy Apartments, a nine-story, 113-unit apartment building in Washington, D.C.’s Kalorama Heights neighborhood.

Tracey Appelbaum
HFF worked on behalf of the developer, Federal City Property Investors LLC (Fed City), to arrange a joint venture equity partnership with CBD LLC (CBD), who contributed equity for the project. 

Additionally, HFF secured debt financing for the partnership through United Bank.

  Loan proceeds were used to acquire the asset and will also be used to create a comprehensive renovation/repositioning of the property.

2144 California Street, NW is located within Washington, D.C.’s affluent Kalorama Heights neighborhood, four blocks north of Dupont Circle and three blocks east of Massachusetts Avenue’s Embassy Row.  

The building offers 360-degree views of the city and consists of mainly one-bedroom units.  Originally built in 1958, the property will undergo an extensive renovation of both individual units and common areas.

Charles Berman
The HFF equity placement team representing Fed City was led by director Brenden Flood along with senior managing directors Alan Davis and Dave Nachison, associate director Bret Thompson and real estate analyst Tim Stanton. 

HFF’s debt placement team representing Fed City and CBD, LLC was led by director Daniel McIntyre.  Managing member Nicholas Demas headed the Fed City team and CBD was represented by principals Chuck Berman and Tracey Appelbaum.

Founded by Nicholas Demas, Fed City develops, acquires and operates quality apartment communities, office buildings, luxury hotels and triple net retail.  

Fed City focuses on urban core and value-add opportunities with a particular focus on major metropolitan areas of the U.S. and specific markets in Europe.  For more information, please visit www.fed-city.com.

Founded in 2013 by Chuck Berman and Tracey Appelbaum, CBD LLC is a privately held investment manager specializing in the development and acquisition of rental apartments and mixed-use developments in urban locations from Boston to Washington DC with a particular focus in New York City.

Brenden Flood
  Their investors include a range of family offices and high-net-worth individuals seeking direct institutional quality equity real estate exposure.  CBD LLC actively participates in its joint ventures as a limited partner or co-general partner. 

 Mr. Berman and Ms. Appelbaum have specialized in the revitalization of urban and high density suburban areas. 

 Both have decades of real estate investment, development, construction and management experience.  Mr. Berman was a Managing Principal and Vice Chairman at MacFarlane Partners urban investment group and Ms. Appelbaum was a Principal responsible for investment and development activities on the East Coast. 

 Prior to that, Mr. Berman was Founder and President of Avalon Properties (NYSE REIT), a publicly-traded real estate investment trust that, through a subsequent merger, became AvalonBay Communities, one of the largest residential REITs in the United States.  

Mr. Berman served as President and Ms. Appelbaum served as a Vice President at AvalonBay.

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

CCR Signs The Mortgage Council, LLC In New Lease Transaction


Allan Carlisle
North Palm Beach, FL — Bryan Cohen and Allan Carlisle of Cohen Commercial Realty, Inc. announced the signing of The Mortgage Council, LLC to lease space at Pavilion Law Center. Located north of Northlake Boulevard on Federal Highway, this center features office suites with floor to ceiling glass exterior and interior. Cohen Commercial Realty, Inc., represents the Landlord in this transaction.

CCR Signs Habitat for Humanity ReStore In New Lease Transaction

Greenacres, FL — Bryan Cohen, William Soled and Jason Guralnick of Cohen Commercial Realty, Inc. announced the signing of Habitat for Humanity ReStore to lease a 32,683- square-foot space at Mil Lake Plaza. Located on the northwest corner of Lake Worth Road and Military Trail, the plaza is anchored by Big Lots. Cohen Commercial Realty, Inc., represents the Landlord in this transaction.

CCR Limoncello Cucina In New Lease Transaction

Palm Beach Gardens, FL — Bryan Cohen and Chris Haass of Cohen Commercial Realty,
Inc., announced today the signing of Limoncello Cucina to lease a 3,656-square-foot space at City Centre. Located at 2000 PGA Boulevard, just west of US Highway 1, this center is already home to Carmine’s Crab Shack and Twisted Trunk Brewery. Cohen Commercial Realty, Inc., represents the Tenant in this transaction.

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

Jamie Crocker

Sale of Entitled Apartment Land in south Coast Plaza Town Center in Costa Mesa, CA Arranged by Marcus & Millichap




Rendering of planned development
at 580 Anton Boulevard
Costa Mesa, CA
COSTA MESA, CA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced that Michael Walseth and Nathan Holthouser, both members of the firm’s National Retail Group and National Land Group, have arranged the sale of a 25,000-square-foot shopping center located at 580 Anton Blvd. in the Town Center South Coast Plaza district of Costa Mesa, Calif.

The property is entitled for the development of 250 luxury apartment homes. The terms of the sale were not released.

Walseth and Holthouser advised the seller, a private investor. The buyer is a joint venture led by Legacy Partners.

“Located within Orange County’s cultural, financial and fashion epicenter, 580 Anton Blvd. is perhaps the most highly coveted multifamily development site to trade in Orange County in recent history,” says Walseth.

 “Our national marketing campaign generated more than 35 offers and interest from qualified developers and investors worldwide.”

“580 Anton Blvd’s development potential is excellent,” continues Walseth. “Recent rental rates at buildings located nearby have eclipsed $3.00 per square foot, evidence of the high desirability of residents to live within walking distance of South Coast Plaza Town Center, South Coast metro office buildings, and the Segerstrom Center for the Arts.”

Located on two acres at the northeast corner of Anton Boulevard and Avenue of the Arts in Costa Mesa, the planned development, 580 Anton Blvd., will consist of 250 units and an incremental amount of neighborhood-serving retail uses. 

The community will be constructed as a five-story “podium” design with more than 200,000 square feet of net rentable area. Construction is scheduled to commence in late 2015.

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

Gina Relva, Public Relations Manager

(925) 953-1716

Arbor Terrace Senior Housing Property Sold in Tampa, FL; DTZ Tampa’s Allen McMurtry Represents Seller


Megan Fetter
TAMPA, FL – DTZ, a global leader in commercial real estate services, announced that the team of Allen McMurtry, Megan Fetter and David Kliewer has arranged the $20 million sale of Arbor Terrace at Citrus Park on behalf of Citrus Park ALF, LLC.

Arbor Terrace was designed by Tampa architectural firm Chancey Design and developed by a joint venture between Tampa architect/developer Walt Chancey and Rookis Development Company based in Santa Rosa Beach, FL.

The project was pre-sold to Capitol Seniors Housing prior to breaking ground and the transaction closed upon certificate of occupancy.

 The property consists of 6.34 acres and 92 units – 52 assisted living, 14 transitional memory care and 26 memory care.



Allen McMurtry

Conveniently located at 13810 Sheldon Road in the heart of the Citrus Park neighborhood in Tampa, Arbor Terrace is situated in a prime location, allowing residents access to everything that Citrus Park and the greater Tampa Bay area has to offer.

 In addition to its excellent location, Arbor Terrace offers personalized engagement programs for each of its residents, focusing on their individual abilities and interests.

Since 1988, the Tampa-based DTZ Senior Housing team (formerly Cassidy Turley) has sold 160 Senior Housing communities in 31 states with an aggregate sales volume of $2 billion. The team’s average transaction size over the past decade exceeds $35 million.

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

Nicole J. Grzywacz
Marketing Manager | DTZ
4301 Anchor Plaza Parkway, Suite 400 | Tampa, FL 33634 | USA
Direct: 813-349-8545


Friday, April 24, 2015

Lincoln Wins Management Assignments for Cobb Corporate Center and Northwoods Commons in Metro Atlanta


Shane Froman
ATLANTA, GA– Lincoln Property Company Southeast (Lincoln) has secured assignments to manage two office parks in metro Atlanta: Cobb Corporate Center in Marietta and Northwoods Commons in Norcross

Petrus Partners owns both properties; Lincoln received the leasing assignments for the parks in October 2014.

The 195,921-square-foot Cobb Corporate Center features five single-story buildings. Major tenants include Acuity Specialty Products, Data Systems Inc., Leviton Manufacturing, Willconsco and Avnet.

“There is a real vibrancy in Cobb stemming from the new Braves stadium, and we expect the momentum created by that project to have an extremely positive impact on the Cobb Corporate Center,” said Shane Froman, vice president of property management in Lincoln’s Atlanta office. 
“We at Lincoln are certainly very excited to be a part of what’s happening in that market.”

The 100,270-square-foot Northwoods Commons features three buildings, and its larger tenants include Bravepoint, Giant Intn’l USA and Johns Creek Family Physicians. 

Features include frontage on Peachtree Industrial Boulevard, 14-foot clear ceiling heights, and proximity to a variety of restaurants, banks, hotels and golf courses.

Northwoods Commons, Norcross, GA
“Cobb Corporate Center and Northwoods Commons will benefit tremendously from our ‘owner-centric’ approach to property management,” Froman said. 

“We are very excited about expanding the relationship already established with Petrus Partners on the leasing side to now include management services, and we greatly value this client and their trust in us.”

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

Savannah Duncan • The Wilbert Group
1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309
O: 404-343-0870  • M: 404-901-4433
http://www.twitter.com/savannahbduncan  http://www.linkedin.com/in/savannahduncan/

HFF closes sale of power center in suburban Houston, TX


Green Tree Shopping Center, 231-515 South Fry Road, Katy, TX

HOUSTON, TX  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Green Tree Shopping Center, a 147,658-square-foot, 99-percent-leased power center in suburban Houston.

Ryan West
HFF arranged the sale of the property on behalf of the seller, a TIC ownership group managed by Joseph and Henry Mandelbaum of RealTax, Inc.  Inland American Real Estate Trust, Inc. purchased the asset for an undisclosed amount.

Green Tree Shopping Center is occupied by national and regional tenants including TJ Maxx, PetSmart, Office Depot, Party City, Five Below, Ulta Salon, Famous Footwear, Mattress Firm, Bath & Body Works, GNC and Castle Dental.  The center is shadow-anchored by Target and Randall’s. 

Renovated in 2004, the Green Tree Shopping Center spans 21.6 acres at 231-515 South Fry Road in Katy, a suburb west of Houston and approximately 24 miles from the central business district.

  Located at the western edge of the Energy Corridor, the trade area has a population of more than 217,000 residents and an average household income exceeding $101,000. 

The HFF investment sales team representing the seller was led by managing director Ryan West, senior managing director Rusty Tamlyn, associate director Matt Berry and real estate analyst Robbie Kilcrease.

Rusty Tamlyn
“The timing of this transaction should be important for some to note,” West said.  “We took offers just prior to the rapid decline in the price of oil, yet recently closed at the initial pricing.

“ Capital continues to aggressively seek retail opportunities in Houston, and the sale of Green Tree Shopping Center is just one example of how the market is pricing through the energy discussion. 

"  In addition, there were several moving pieces including two new anchor leases in progress that we had to structure around but the cooperation of all parties involved allowed us to facilitate a successful transaction.” 

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