Wednesday, September 30, 2015

29th Street Capital Acquires Apartments on Houston’s East Side


Javier Bustillo
Pasadena, TX (Sept. 30, 2015) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm has acquired Casa Palmas, a 308-unit multifamily community at 3500 Red Bluff Road  in the southeast Houston suburb of Pasadena, Texas. The transaction closed Sept. 29. 

29SC purchased the asset from a Dallas-based investment group on an off-market basis.

 The asset, built in 1970, is well-maintained and has had extensive capital upgrades over the last 10 years, including new roofs and siding as well as improvements to the amenities and interiors.

 29SC plans to invest an additional $700,000 (or $2,200 per unit) to install modern black appliances and upgrade plumbing, light fixtures and cabinet hardware.

“Casa Palmas is our fourth recent acquisition in the Houston metro, with others on the horizon as we continue to see opportunities in specific pockets in the Houston market,” said Javier Bustillo, Senior Vice President of Acquisitions for 29SC.

“We love the current market dynamics in Pasadena and believe this property will deliver exceptional returns for our investors. As with all of our recent acquisitions, we plan to offer an updated and yet affordable rental option in an area with limited housing and a growing demand.”

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

Terri Thornton
Partner, Thornton Communications
p:404-932-4347 | e:Terri@TerriThornton.com | w:www.TerriThornton.com

  

HFF closes $123 million sale of two Class A apartment buildings in Manhattan’s Gramercy Park


210 and 220 East 22nd Street, Gramercy Park Neighborhood, Manhattan, NY


Andrew Scandalios
NEW YORK, NY – Holliday Fenoglio Fowler, L.P. (HFF) announced it has brokered the sale of 210 and 220 East 22nd Street, two adjacent mid-rise apartment buildings totaling 208 units in Manhattan’s Gramercy Park neighborhood.

HFF marketed the properties on behalf of the seller, a joint venture between Broad Street Development and Crow Holdings Capital – Real Estate.  Stone Street Properties, LLC purchased both properties for $123 million and assumed the existing mortgage.

210 and 220 East 22nd Street are situated between Second and Third Avenues, two blocks from the 23rd Street subway station and within half of a mile of Gramercy Park, Union Square and Madison Square Park.

 The properties are proximate to the First Avenue medical corridor and the Midtown South office market, as well as numerous retail, dining and entertainment options.  

Renovated most recently in 2014, the properties are collectively 99 percent leased and have studio, one-, two- and three-bedroom units averaging 519 square feet each.  

Some of the recent renovations include the lobbies, common areas and tenant outdoor space.  Both buildings have elevator-access and laundry facilities on each floor.

Jeff Julien
The HFF investment sales team representing the seller was led by senior managing director Andrew Scandalios and managing directors Jeff Julien and Rob Hinckley.

“Given the location and recent renovations executed by the seller, 210 and 220 East 22nd Street is perfectly positioned as a long-term rental hold.  The buyer recognized not only the superb location within this trendy and amenity-rich neighborhood, but also saw additional upside in the asset from continued capital investments,” commented Scandalios.

  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

$31 million financing for mixed-use property in suburban Indianapolis arranged by HFF


Rendering of  The Depot at Nickel Plate, 8594 East 116th Street, Fishers, IN

INDIANAPOLIS, IN –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $31 million in financing for The Depot at Nickel Plate, a recently-completed, mixed-use property with 242 luxury residential units and 17,045 square feet of ground floor retail located in Fishers, Indiana.

HFF worked on behalf of the borrower, Flaherty & Collins Properties, to secure the 10-year, fixed-rate loan through a correspondent life insurance company.  Loan proceeds were used to replace the existing construction financing and return capital to the owners.

David B. Keller
Completed in April 2015, The Depot at Nickel Plate is situated on 3.5 acres at 8594 East 116th Street in Fishers, Indiana less than one half of a mile from the Interstate 69 and 116th Street interchange. 

The residential component consists of 50 percent one-, 49 percent two- and one percent three-bedroom units ranging from 703 to 2,297 square feet each.  Units feature nine-foot ceilings, granite countertops, stainless steel appliances,

 USB outlets and full-size washers and dryers with select units offering Nest® thermostats, prewiring for Bluetooth® surround sound and upgraded appliance packages.

 Community amenities include a health club with interactive fitness classes, a yoga/Pilates studio, game room, cyber cafĂ©, screening lounge and club room. 

Outdoor amenities include two courtyards, resort-style swimming pool, grilling areas, pet wash and bark park, which are all served by an attached 430-space parking garage.

The HFF debt placement team representing the borrower was led by senior managing director David B. Keller.

“This property is an important element to the City of Fisher’s Nickel Plate redevelopment project.  The Depot provides key ‘live-work-play’ amenities to the area’s downtown core,” said Keller.

 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

HFF secures $41.8 million financing for 351-unit multi-housing community in Aurora, CO


Del Arte Lofts and Flats, 151 South Joliet Circle, Aurora, CO


Josh Simon
DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $41.8 million in financing for Del Arte Lofts and Flats, a 351-unit multi-housing community in Aurora, Colorado. 

HFF worked on behalf of the borrower, Advenir, Inc., to place the seven-year, 2.28 percent, adjustable-rate loan with three years interest only with Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. 

The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.  Loan proceeds were used to acquire the asset.

  Advenir will rebrand the property as Advenir at Del Arte and will implement a minor capital improvement program to achieve greater rental premiums.

Del Arte Lofts and Flats is located at 151 South Joliet Circle in Aurora, approximately nine miles southeast of Denver’s central business district.  The 93-percent-leased property is near the Lowry Air Force Base and the 578-acre Fitzsimons/Anschutz Medical Campus. 

The community has one-, two- and three-bedroom units and amenities such as a resort-style swimming pool, hot tub, state-of-the-art fitness center, newly-designed clubhouse with business center and access to nearby jogging trails.

The HFF debt placement team representing the borrower was led by Josh Simon and Eric Tupler.

 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

HFF secures financing for 608-unit multi-housing community in Dallas, TX area


The Neighborhoods at Cypress Waters Apartments, 3211 Scotch Creek Road, Dallas, TX


Trey Morsbach
DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured financing for The Neighborhoods at Cypress Waters, a 608-unit, Class A apartment and townhome community in Dallas, Texas.

HFF worked on behalf of Billingsley Company to secure the 15-year, fixed-rate loan through TIAA-CREF.  Loan proceeds were used to replace an expiring construction loan.

Completed in September 2014, The Neighborhoods at Cypress Waters is situated within the 1,000-acre, waterfront Cypress Waters mixed-use development with office, multi-housing and retail in the central part of the Dallas-Fort Worth Metroplex. 

The property encompasses a mix of flat- and townhome-style units totaling 489,486 rentable square feet with an average unit size of 805 square feet. 

Located at 3211 Scotch Creek Road, the asset is next to a 362-acre lake and has amenities such as two resort-style swimming pools, fitness center, sand volleyball court, hike and bike trails, children’s music park and playground, pet-friendly parks and dog stations.  The property is 95 percent occupied.

The HFF debt placement team representing the borrower was led by senior managing director Trey Morsbach and director Jim Curtin.

 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


HFF secures financing commitments for iconic multi-housing development in Dallas, TX

  

DALLAS, TX –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured financing commitments for The Village Apartments, an iconic multi-housing development in Dallas, Texas totaling approximately 7,000 units. 

The financing included a single-sponsor securitization and a floating-rate credit facility.  

All financing commitments were provided by Freddie Mac, and the loans will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.

HFF worked on behalf of a joint venture between Lincoln Property Company, Invesco Real Estate, acting on behalf of an institutional client, and Crow Holdings.  Financing proceeds were used to retire an existing Freddie Mac loan facility and to provide additional capital for future development.

The Village is located at the intersection of Caruth Haven and Greenville Avenue approximately eight miles northeast of downtown Dallas.  Developed as a “city within a city,” the 309-acre property has an abundant amount of open green space, two lakes, a network of streams and water features, and 2.5 miles of jogging/biking trails. 

Originally developed in the late 1960s, ownership has continued to strategically add new multi-housing communities and common area amenities with a long-term vision in mind.

 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


Cohen Commercial Realty Brokers New Leases in Margate, FL and Boca Raton, FL


Travis Langhorst
MARGATE, FL  Travis Langhorst and Bryan Cohen of Cohen Commercial Realty, Inc., announced the signing of Dent Wizard International to lease a 5,276-square-foot space at Copans Commerce Park located at 2056 NW 55th Avenue in Margate, Florida. Cohen Commercial represents the Tenant in this transaction.

MARGATE, FL  — Travis Langhorst and Bryan Cohen of Cohen Commercial Realty, Inc., announced the signing of Dent Wizard International to lease a 5,276-square-foot space at Copans Commerce Park located at 2056 NW 55th Avenue in Margate, Florida. Cohen Commercial represents the Tenant in this transaction.

BOCA RATON, FL  —Christopher Haass and Bryan Cohen of Cohen Commercial Realty, Inc., represented Fit Body Bistro of Jupiter, Florida, in successfully procuring a new lease term with options for the 2,203-square-foot space located at 10 Palmetto Park Plaza in Boca Raton, Florida.

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

Kacy Martin
Cohen Commercial Realty, Inc.
561.471.0212 Office
561.471.5905 Fax

Nominations Now Open for 5th Annual Orange County, CA Commercial Real Estate Spire Awards


Catherine Falco
ORANGE COUNTY,  CA -- Orange County, CA - Nominations are now open for the fifth annual commercial real estate SPIRE awards, aimed at recognizing Orange County's best and brightest in commercial real estate.

            Presented by the Orange County chapter of Commercial Real Estate Women (CREW-OC), the SPIRE awards will recognize developers, general
contractors, engineers, brokers, lenders, architects, attorneys, property managers, interior designers, and mortgage bankers that have demonstrated superior performance in 2015.

            "Orange County is a hub of activity for the commercial real estate industry, and there is no better way to recognize the individuals and
teams who continue to shape the local business landscape," says Karen Eddy of Western Digital, who is Co-Chair of the SPIRE award committee for CREW-OC along with Catherine Falco of Marquis Construction. 


Karen Eddy
           "Last year's SPIRE awards garnered 152 entrants and nearly 250 attendees, and we anticipate that we will increasethose numbers
substantially this year," Eddy explains.

            The SPIRE awards event will be held on March 10, 2016 at the Center Club in Costa Mesa, California. All nominees will be published in the
Orange County Business Journal the week before the event.


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

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

Hold-Thyssen Negotiates Two New leases totaling 3,600 square feet at Edgewater Commerce Center in Orlando, FL



Edgewater Commerce Center, 6270 Edgewater Drive,
Orlando, FL
 WINTER PARK, FL --- The leasing team at Hold-Thyssen, Inc. recently negotiated two new lease agreements totaling 3,600 rentable square feet of flex space at Orlando’s Edgewater Commerce Center at 6270 Edgewater Drive.

Advantage Funding Commercial Capital Corp., which extends short term credit to businesses, leased 1,600 square feet and Orlando-based courier Eagle Express which offers immediate pick-up and delivery, leased 2,000 square feet at the center.     

These two new leases were the seventh and eighth deals this year that the Hold-Thyssen Leasing Team completed on behalf of Miami-based Landlord LNR Partners, LLC at the 64,350 square foot  Edgewater Commerce Center.

   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

NAI Realvest Negotiates New Lease with Media Group for relocation to Primera Court II in Lake Mary, FL


 
Nancy Grooms
 Lake Mary, FL – NAI Realvest recently completed a new lease agreement for 2,670 rentable square feet at Primera Court II located at 735 Primera Blvd. in Lake Mary. 

Senior Broker Associate Mary Frances West, CCIM negotiated the transaction representing the class A office building Landlord, RREF Interchange–FL, Primera II, LLC based on Daytona Beach. 

Halldale Media, Inc., a local media company focused on simulation and training publishing, is the new tenant.   Nancy Grooms of Sperry Van Ness represented Halldale.  

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


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

NAI Realvest Negotiates Purchase of Office Building in Winter Park, FL


Christie Alexander
ORLANDO, FL --- NAI Realvest recently negotiated the purchase of an office building with 2,376  square feet at 2160 N. Park Ave. in Winter Park.

NAI Realvest broker associate Drew Saphos, CCIM, principal Christie Alexander, and chairman George Livingston negotiated the transaction representing Barr Real Estate, LLC who paid $488,000 for the property.  

The local seller, Robert K. McMahan, was represented by Lief Erickson of Winter Park Land Commercial. 

   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

  

NAI Realvest Negotiates Lease in Winter Park, FL for 5,490 square feet to house Massey Communications Office

  
Mary Frances West
WINTER PARK, FL – NAI Realvest recently negotiated a long term lease agreement for 5,490 rentable square feet at 1201 S. Orlando Ave., in Winter Park.

Senior Broker Associate Mary Frances West, CCIM and Tom R. Kelley II, CCIM, a principal at NAI Realvest, negotiated the lease representing the landlord Gateway Plaza Ltd.

Massey Communications, Inc. is the new tenant relocating from Orlando.   Jeff Sweeney and Austin Johnson of Cushman & Wakefield represented Massey.


   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

Monday, September 28, 2015

Pleasant Hill Square in Duluth, GA Listed on Auction.com for $4 Million

  
Chip Sipple
 ATLANTA, GA (Sept. 28, 2015) – Pleasant Hill Square, a 282,137-square-foot power center located in Duluth, Georgia, has been listed on Auction.com and the auction is set to begin on Tuesday, Sept. 29, and end on Wednesday, Sept. 30.

Tony Bartlett and Chip Sipple of Lincoln Property Company Southeast (Lincoln) and Kyle Stonis and Pierce Mayson of SRS are representing the seller.

“The broader Atlanta retail market has been enjoying steady improvement over the past year,” said Tony Bartlett, senior vice president at Lincoln who oversees the Atlanta office.

 “Overall retail vacancy declined to the current rate of 7.7 percent, down from 8.2 percent in the first quarter of this year from previous quarters. The Gwinnett County submarket generally mirrors the broader market improvements with vacancy only slightly behind the overall rate of 8.3 percent, down from 8.8 percent in the first quarter.”


Tony Bartlett
Located at 2205 Pleasant Hill Road, the property is strategically positioned within a significant retail corridor, located just northwest of I-85. Toys ‘R’ Us, Staples and Jo-Ann Fabric & Craft Stores anchor the center, which is 49 percent occupied. 

The center features good visibility with multiple access points from Pleasant Hill Road and provides a strong value-add opportunity.

The property sits within the Gwinnett Community Improvement District (CID), which has been actively engaged in improving the community as of recent. 

In early September, the CID recently released its ACTivate Gwinnett Place master plan, which calls for the redevelopment of Gwinnett Place Mall, with the addition of more green space, and connectivity and transportation improvements.

 The CID is also testing recycled pathways throughout the city, and in August hosted The Gr8 Exchange, fostering conversations among residents about transportation.


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

 Savannah Duncan
The Wilbert Group
404-343-0870

Hospitality Asset Managers Association (HAMA) Members Remain Overwhelmingly Upbeat

  
David Hogin
CHICAGO, IL, Sept. 28, 2015— Officials of the Hospitality Asset Managers Association (“HAMA”) today announced that their membership remained overwhelmingly upbeat in an informal survey taken at their recent semi-annual Members Meeting.

  More than 130 attendees from six countries met to review best practices and discuss the future of the discipline at the Fairmont Chicago Millennium Park hotel.

“The hotel industry is in the midst of arguably its greatest growth period since STR, Inc. began recording data in the 1980s,” said Dave Hogan, president of HAMA. 

“As an industry, hotels have reached their highest recorded occupancy and rates are approaching historic highs.  Some experts have noted, however, that sales prices are beginning to peak. 

 This phase of the cycle calls for asset managers to continue focusing on optimizing returns.  These regular HAMA meetings provide members with cutting edge research and the opportunity to informally exchange ideas about trends, new techniques and technology.”

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

  Chris Daly, media
  (703) 435-6293

MCA Realty Increases its Investment in Las Vegas; Acquires Four Value-Add Industrial Assets


Tyler Mattox
LAS VEGAS, NV (Sept. 28, 2015) – MCA Realty, a full service real estate investment and management company, has increased its investment in Las Vegas with the acquisition of four industrial properties, according to Tyler Mattox, a Principal at MCA Realty.

“The Las Vegas market has demonstrated significant growth over the past 24 months,” says Mattox. 

 “Our firm began acquiring industrial assets in this market in 2011.  At that time, value-add industrial product was plentiful, whereas today, an influx of capital has caused prices to increase and made opportunities more difficult to uncover.”

Mattox explains that investor demand has grown, and that tenant demand has strengthened meaningfully, particularly in smaller spaces under 30,000 square feet. 

“The recovery in Las Vegas, like in much of the nation, was top down, with larger corporations emerging from the recession first.  Smaller companies have just recently joined in the recovery and this is manifest in a reduction in vacancy and an increase in rents across the incubator and mid-bay industrial sector,” he says.

“Our focus continues to be on acquiring industrial assets with long-term value-add potential,” Mattox continues.

With these four recent acquisitions, MCA Realty’s portfolio now encompasses a total of 14 properties and well over 600,000 square feet in Las Vegas.

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

Lexi Astfalk / Jenn Quader
Brower, Miller & Cole
(949) 955-7940

Faris Lee Investments Completes the Sale of a Jack in the Box Property in Bakersfield, CA at a 3.99% Cap


John Redfield
IRVINE, CA – Faris Lee Investments, a leading retail advisory and investment sales firm, has completed the $1.85 million sale of a 3,734-square-foot single-tenant property that is absolute NNN-leased to a corporate Jack in the Box in Bakersfield, Calif.

John Redfield, Thomas Chichester, and Joseph Chichester of Faris Lee Investments represented the seller, a private investor from Newport Beach, Calif. The buyer was a private investor from Cypress, Calif.  that was seeking a passive property offering investment security.

The sale closed at a cap rate of 3.99 percent, one of the lowest ever recorded for a Jack in the Box-occupied property nationwide.

Located at 3002 Ming Ave., Jack in the Box has been the original tenant since the property was developed nearly 50 years ago. The asset features a large monument sign that is visible to more than 41,000 vehicles on a daily basis.

“The single tenant net leased market is still seeing cap rate compression, especially for well-located, quick serve restaurants featuring corporate name brand tenants like this asset offers. They represent a stable and passive investment for private buyers and family offices that are seeking long-term returns and no landlord responsibilities,” said Tom Chichester.

Chichester added that the property is ideally situated across the street from the successful Valley Plaza Mall, a 1.1 million-square-foot retail center which is the largest and most dominant mall in Central California’s San Joaquin Valley.


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

Darcie Giacchetto
Spaulding Thompson & Associates
949.278.6224


Charles Dunn Co. Completes $2.55 Million Sale of Three-Building Office Property in Studio City, CA


Stacy Vierheilig-Fraser

LOS ANGELES, CA – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $2.55 million sale of three office buildings totaling 7,210 square feet located at 3751-3757 and 3759 Cahuenga Blvd. West in Studio City, Calif.

Stacy Vierheilig-Fraser, senior managing director with Charles Dunn Company, represented the seller, a private investor from Los Angeles, as well as the buyer, Los Angeles-based Koloe, LLC.

“The property was 50 percent occupied by a television production company at the close of escrow,” said Vierheilig-Fraser. “The buyer plans to occupy the remaining space as an owner/user for his mortgage company, Standard Home Lending.”

Standard Home Lending, a mortgage firm focused on providing affordable mortgages to local home buyers, will be relocating and expanding from its current Studio City location at 13223 Ventura Blvd. after a complete renovation and build-out of the property.

The property includes one, two-story creative office building and two, single-story buildings and features outdoor courtyards and 24 parking spaces.

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

Darcie Giacchetto
949.278.6224



Crossman & Co. brings three Publix-anchored shopping centers to 100% occupancy within 90 days in Central Florida

  
 
Craig Katterfield
Orlando, FL  – Crossman & Company Senior Associate Craig Katterfield, CCIM completed new leases that brought three Publix-anchored shopping centers to 100 percent occupancy within the last 90 days.

New tenant, Scoops Old Fashioned Ice Cream at Stadium Corners, 5380 Stadium Parkway in Viera, put occupancy at the 69,471-square-foot center at 100 percent. This is Scoops’ second location.

The UPS Store joined Colonial Coast Crossing shopping center located at 2000 Cheney Highway in Titusville.  Addition of The UPS Store put this 52,970-square-foot center at 100 percent occupancy.

Crown Centre Plaza welcomed new tenant Painting with a Twist to the 106,053-square-foot shopping center located at 2596 Enterprise Road in Orange City. This most recent lease marked the second time this year Crown Centre reached 100 percent occupancy.

Katterfield closed all three deals within 90 days representing the landlord, Publix Super Markets, Inc.

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

  Sydnie Cobb
  Crossman & Company
  407-581-6261

EagleBridge Capital Arranges $20.75 Sale and $15M Mortgage for the Saint Francis Information Technology Center in Hartford, CT


Saint Francis Information Technology and Finance Center, 103 Woodland Street, Hartford, CT

Ted M. Sidel
Boston, MA -- EagleBridge Capital has arranged the $20,750,000 sale of as well as permanent mortgage financing in the amount of $15,000,000 for the Saint Francis Information Technology and Finance Center located at 103 Woodland Street, Hartford, Connecticut. 

The sale and financing were arranged by EagleBridge principals Ted M. Sidel and Brian D. Sheehan. The non-recourse, long term fixed rate mortgage was provided by a major Connecticut based financial institution.

The five-story, 57,753 square foot Saint Francis Information Technology and Finance Center, is located on a 3.92 acre site across Woodland Street from the main campus of Saint Francis Hospital & Medical Center. The building is NNN leased to Saint Francis on a long term basis and houses administrative, IT, and finance offices.

 The Saint Francis Hospital & Medical Center is a 617 bed major teaching hospital and one of the largest hospitals in Connecticut. It is a regional referral center with major clinical concentrations in cardiology, oncology, orthopedics, women’s services, and rehabilitation. 

Brian D. Sheehan
In 2011, the hospital opened the ten-story, 318,000 square foot John T. O’Connell Tower featuring 135 private patient rooms,19 new operating rooms, a new emergency room with 70 treatment areas and 13 sheltered ambulance bays, and a rooftop heliport.

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for single tenant, shopping centers, apartments, office, industrial,  R & D, and medical buildings, mixed use properties, hotels, and condominiums as well as special purpose buildings.


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

Stanley J. Sidel
Senior Advisor
EagleBridge Capital
33 Broad Street
Boston, MA 02109
Tel: 617-292-7177 Ext.14


Saturday, September 26, 2015

Palmetto Bluff Breaks Ground on Moreland Village Outfitters in Bluffton, SC


Jay Walea

BLUFFTON, SC  – Palmetto Bluff has celebrated the groundbreaking of the new Moreland Village Outfitters Center, a complex of buildings organized around a series of courtyards that will serve as the headquarters for Palmetto Bluff’s Conservancy as well as the launching point for all outdoor activities.

“The Outfitters Center is a crucial step in supporting our overall conservancy efforts,” said Jay Walea, Palmetto Bluff conservancy director.

Palmetto Bluff Village Dock
“The center will inspire both guests and residents to explore Palmetto Bluff’s unique outdoor environment, whether it be a nature walk with our full-time archaeologist, kayaking on the river or embarking on a scavenger hunt. 

"We are looking forward to seeing our vision come to life, providing a model for how design and development can celebrate the outdoor environment.”

The Outfitters Center will play host to outdoor classrooms and event spaces, and will include a retail store, sales office, canteen, bike barn, amphitheater and training pond.  It will additionally feature a conservancy introduction area, which will allow the Outfitters staff to educate guests about the storied history of Palmetto Bluff, as well as Conservancy programming.  The project is scheduled for completion October 2016.

 Moreland Village is slated for completion in December 2016. 

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

Hadley Creekmuir
404-343-4080
   

JLL’s Vantage Lofts Sale Achieves Record Per-Unit Price for Metro Las Vegas

  
John Cunningham
 LAS VEGAS, NV – A highly amenitized, core-plus luxury development combined with a reinvigorated institutional investor market this week to achieve the highest per-unit multifamily sale price in the history of metro Las Vegas.

 On behalf of Goodman Real Estate, JLL’s Capital Markets experts announced the $39 million sale of Vantage Luxury Flats and Loft Living (Vantage) to buyer The Bascom Group. The sale, which includes an existing 110 units and adjacent 3.8-acre parcel, reflects a per-unit price of more than $345,000.

Executive Vice President John Cunningham and Vice President Charles Steele led the JLL team in the transaction.

“Vantage is truly an institutional-quality asset, drawing interest from multiple institutional buyers who were previously hesitant to return to Las Vegas,” said Cunningham. “Vantage’s incomparable quality, combined with the recovery of the Las Vegas multifamily market and accelerating economic growth, proved invaluable.”

“The exceptional finishes and exclusive lifestyle at Vantage facilitated a successful lease-up featuring some of the highest rental rates in the Las Vegas Valley,” said Steele.

Located at 201 S. Gibson Road in Henderson, Nevada, and completed in 2014, Vantage is comprised of three five-story buildings featuring 110 units, with 26 unique floor plans including singe-story flats, multi-level lofts and penthouses. Units range from 922 to 3,133 square feet, with an average unit size of 1,831 square feet.
  
 For a complete copy of the company’s news release, please contact:

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



Cohen Commercial Realty Brokers Three New Leases in South Florida


William Soled
West Palm Beach, FL — Allan Carlisle and Bryan Cohen of Cohen Commercial Realty, Inc., signed a 1,600-square-foot nail salon at Village Marketplace, located on the northwest corner of Okeechobee Boulevard and Haverhill Road in West Palm Beach, Florida. Cohen Commercial Realty, Inc., represented the Landlord in this transaction.

Palm Beach Gardens, FL — Bryan Cohen and Allan Carlisle of Cohen Commercial Realty, Inc., announced the signing of a 3,244-square-foot space with a counseling office at 3385 Burns Road in Palm Beach Gardens, Florida. Cohen Commercial Realty, Inc., represented the Landlord in this transaction.

 West Palm Beach, FL — Bryan Cohen, William Soled, and Dylan Montefusco of Cohen Commercial Realty, Inc., announced the signing of Saphirra Nail Salon to lease a 3000-square foot space in the heart of downtown West Palm Beach. The salon will be located at 112 N Dixie Highway at the northeast corner of North Dixie Highway and Clematis Street. Cohen Commercial represents the Landlord in this transaction.

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


 Kacy Martin
Cohen Commercial Realty, Inc.
561.471.0212 Office
561.471.5905 Fax



Cortland Partners Enters Austin, TX with Acquisition of 308-unit City View Apartments

  
Steven DeFrancis
AUSTIN, TX — Cortland Partners has entered the Austin market with the acquisition of City View Apartments, a 308-unit apartment near the heart of Austin’s CBD.

With Austin’s current and projected rapid employment growth, Atlanta-based Cortland Partners has been seeking the right opportunity to expand its Texas portfolio in this market.

 The company currently has regional offices in both Dallas and Houston and owns 10 apartment communities in the Dallas-Fort Worth area, six in Houston, and three in San Antonio.

According to the Austin Chamber of Commerce, employers added 32,500 net new jobs from June 2014 to June 2015, representing a growth rate of 3.6 percent over 12 months. 

This growth in turn bodes well for the city’s rental housing market. “The Austin market has seen significant demand for new multifamily product during the past five years,” said Steven DeFrancis, CEO of Cortland Partners.

“The city continues to attract new residents, jobs and economic growth, resulting in increased demand and continued low vacancy. Cortland Partners has a unique capability to revitalize current multifamily offerings in the Austin market to better meet this demand.”
                                                                                                                                                                
 For a complete copy of the company’s news release, please contact:

Sarah DeFrancis
Cortland Partners
404.965.3988


Multi Housing Advisors Brokers $27.1 Million Portfolio Sale in Pensacola, FL


Jimmy Adams
BIRMINGHAM, AL — Multi Housing Advisors (MHA) has arranged the $27.1 million sale of two apartment communities located in Pensacola, Florida. 

The transaction is indicative of MHA’s continued activity in the market, which has experienced tremendous growth during recent years.

Jimmy Adams, who leads MHA’s Birmingham, Alabama, deal team represented Greystone, the seller, in the transaction. ApexOne purchased the property.

“ApexOne was able to acquire two very well-located assets in a growing Florida market,” Adams said. “Their plan is to take the property up another level by further enhancing the amenity package and unit interiors.”

The two properties, consisting of 392 units, closed simultaneously. Both properties had 50 percent of their unit interiors upgraded by the seller, demonstrating the upside in significant rental premiums.

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

Savannah Duncan
The Wilbert Group
404-343-0870 (O) 404-901-4433 (C)


CBRE Lists Value-Add Office Investment Opportunity in Altamonte Springs, FL


North Lake Business Park, 370-774 South North Lake Boulevard, Altamonte Springs, FL


Ron Rogg
 ORLANDO, FL -- CBRE, as exclusive agent, is pleased to offer the North Lake Business Park (“The Property”) for sale in Altamonte Springs located within the North Orlando submarket.

The Property, at 370-774 S. North Lake Boulevard, consists of 15 single-story, office and flex buildings with a total of 270,555 rentable sq. ft. situated on approximately 28 acres alongside Interstate-4.

The Property’s combination of upside potential, loyal tenancy, and predictable cash flow while unencumbered with debt provides an exceptional opportunity in today’s low interest rate environment.

Superb visibility and surging leasing activity have contributed to a move toward stabilization of the property, while still providing significant upside potential.

Strong Orlando fundamentals, excellent demographics and a significant projected increase in construction related jobs will all contribute toward stabilization of the property, while benefitting from increasing rental rates and lower market vacancy.

 Its strategic location near the area’s largest employers and access to Interstate-4 provides unparalleled visibility, strong barriers to entry, and attracts a diversified tenant demand.

With Orlando’s job market leading the nation in growth, the North Lake Business Park is an exceptional value-add investment opportunity.

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

Ronald J. Rogg, CCIM
Executive Vice President
CBRE | Capital Markets
+1 407 839 3194