Tuesday, February 17, 2015

HFF arranges acquisition financing for multi-housing community in Fort Worth, TX

Belterra Apartments, 7001 Sandshell Boulevard, Fort Worth, TX

Cortney Cole
HOUSTON, TX – HFF announced today that it has arranged acquisition financing for Belterra, a 288-unit, Class A multi-housing community in Fort Worth, Texas.

Working on behalf of the borrower, Venterra Realty, HFF placed the entire five-year, 3.12 percent fixed-rate loan (with interest-only payments throughout the term) with PPM Finance, Inc. 

Belterra is located at 7001 Sandshell Boulevard, east of Interstate 35 West and south of Basswood Boulevard within the acclaimed Keller Independent School District, approximately nine miles north of downtown Fort Worth. 

Completed in 2005, the property has one-, two- and three-bedroom units averaging 966 square feet.  

Community amenities include a swimming pool, hot tub, fireside lounge areas, basketball court, fitness center, clubhouse, business center, billiards lounge and car care center.  The property is 94 percent leased.

Steve Heldenfels
The HFF debt placement team representing the borrower was led by director Cortney Cole and managing director Steve Heldenfels.

“Upon acquisition Venterra plans to execute a minor capital upgrade program to both the property exterior as well as unit interiors,” Cole said.  

“The property will also benefit from the implementation of Venterra’s property management expertise and proven management platform, including revenue optimization technology, which is not currently being used at the property.”

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 $26.368 million financing for 504-unit Denver-area multi-housing community

Lakeview Apartments, 3701 West 68th Avenue, Westminster, CO

Brock Yaffe
DENVER, CO – HFF announced today that it has arranged $26.368 million in financing for BMC Investments to acquire Lakeview Apartments, a 504-unit, garden-style apartment building in Westminster, Colorado.

HFF worked on behalf of BMC Investments (BMC) to place a $26.368 million, 10-year (three years interest only), 3.65 percent, fixed-rate loan for Lakeview Apartments through 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. 

Lakeview Apartments, at 3701 West 68th Avenue, is situated on 15.12 acres at the intersection of West 68th Avenue and Lowell Boulevard within three blocks of a to-be-built light rail station in Westminster, Colorado, a town less than 10 miles north of downtown Denver. 

 The property is composed of 12 four-story buildings with an average unit size of 836 square feet. 

HFF’s debt placement team was led by associate director Brock Yaffe and real estate analyst Kristian Lichtenfels.

“HFF provided the most competitive financing terms available in the market in a streamlined and efficiently managed process resulting in a successful closing,” said Matt Joblon, CEO of BMC.

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

Thomas D. Wood and Company’s Sarasota, FL Office Announces Q4 2014 Commercial Mortgage Transactions

Brad Cox
Sarasota, FL, Feb. 17, 2015 --  Thomas D. Wood Company Senior Vice President Brad Cox, CCIM, CPM, financed nearly $32,500,000 in commercial loans in 2014, which contributed to company-wide closings of more than $365,000,000.

Long-term fixed interest rates were historically low, contributing to the increase in successful closings in Q4, and 2014 as a whole.  Cox secured financing for commercial properties throughout Florida and the southeast United States.

The most notable transactions for Cox in the fourth quarter included the following:  $4,300,000 permanent fixed-rate financing for Plymouth and Regal Shopping Centers, retail shopping centers in Fort Myers, Florida; 

$1,925,000 permanent fixed-rate financing for Days Inn and Tiki Bar in Fort Myers, Florida; $1,200,000 permanent fixed-rate financing for Augusta Estates Mobile Home Park in Augusta, Georgia; and $1,750,000 permanent fixed-rate financing for Silver Springs Shopping Center in Ocala, Florida.

For a complete copy of the company’s news release, please contact:
Jessica Kinnee              
Director of Marketing & Public Relations           
Thomas D. Wood & Co.     
 (407) 374-0251                    

Avison Young completes $12.7-million sale of nine-story office building in Santa Ana, CA

Alan Pekarcik
Irvine, CA – Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has completed the $12.7-million sale of 1200 North Main, a nine-story 152,705-square-foot (sf) office building in Santa Ana, CA.

Avison Young Principals Dan Vittone and Alan Pekarcik, based in the company’s Orange County office, represented the seller, Los Angeles-based Positive Investments, Inc. The buyer was Small Giant. The property was 55% leased at close of escrow.

Built in 1971 and renovated in 1997, 1200 North Main is situated on 1.55 acres, and is located along North Main Street within the Santa Ana Civic Center submarket. The property also includes a two-story adjacent parking structure.

“The project was originally slated for an adaptive reuse conversion to residential, for which a new city ordinance was passed in the fourth quarter of 2014,” comments Vittone.

 “Ultimately, the Orange County office market strengthened to the point that it warranted the acquisition of the property as a value-add office investment.”

Dan Vittone
“This freeway-close location is within a high-barrier-to-entry area with very little new inventory delivered over the past 15 years and no new competitive office projects under construction,” adds Pekarcik.

The 1200 North Main property offers immediate access to the 5, 22, and 55 freeways, is near Westfield’s MainPlace (a 1.1-million-sf super-regional mall), and is adjacent to downtown Santa Ana. 

The building is also a short walk to the Santa Ana Courthouse, City Hall and the U.S. Federal Courthouse, as well as private-sector businesses.

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

Darcie Giacchetto
D.G. Communications, Inc.

Marcus & Millichap arranges sale of two north carolina wendy’s properties

Wendy's, Kernersville, NC and High Point, NC
Roee E. Ben-Moshe

 KERNERSVILLE, NC, Feb. 17, 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 two Wendy’s properties in Kernersville and High Point, NC.  

The 1,554-square foot Kernersville property sold for $2,400,000 and the 4,206-square foot High Point property sold for $1,500,000.

Gabriel Britti and Ronnie Issenberg, vice president investments, and Roee E. Ben-Moshe, an associate, in Marcus & Millichap’s Miami office represented the seller, a limited liability company from Memphis, TN.  Allen Smith, broker, assisted in closing the transactions.

The Kernersville property, located at 1468 NC Highway 66 South, was purchased by a private investor from California. 

The High Point property, located at 2710 South Main Street, was purchased by a limited liability company from Ardmore, PA. The buyer was secured by Mark Taylor, a first vice president investments in Marcus & Millichap’s Philadelphia office, and Dean Zang, a first vice president investments in the Washington D.C. office.

Ronnie Issenberg
The Wendy's properties have absolute-net 20-year leases with zero landlord responsibilities. 

In July of 2014, NPC signed a brand new lease which includes 10 percent rent increases every five years with four five-year options. 

The lease is absolute-net in nature, with no landlord responsibilities.

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

Kirk A. Felici
First Vice President/Regional Manager
 Miami, FL
(786) 522-7000

Loews Hotels & Resorts to Purchase the Mandarin Oriental San Francisco

Mandarin Oriental San Francisco Hotel, situated atop 11 floors
 of San Francisco's third tallest building
NEW YORK, NY (Feb. 17, 2015) – Loews Hotels & Resorts, a wholly owned subsidiary of Loews Corporation (NYSE:L), today announced that it has entered into an agreement to purchase the 158-room Mandarin Oriental San Francisco Hotel. The acquisition is expected to close in late March.

Paul Whetsell
“This will be our first entree into San Francisco, a major gateway market and a very important location for Loews Hotels’ core customer base,” said Paul Whetsell, President & CEO of Loews Hotels & Resorts.  

“We have been exploring opportunities to enter the San Francisco market for some time, so we are thrilled to add such a respected five-star hotel to our growing brand.”

Located in the heart of San Francisco’s Financial District, the hotel, which is currently managed by Mandarin Oriental Hotel Group, is situated on the top 11 floors of San Francisco’s third-tallest office building, showcasing uninterrupted views of San Francisco and its bay. 

The hotel features158 guest rooms, the Brasserie S&P restaurant, over 5,000 square feet of meeting space and a new 8,000 square foot spa and fitness center.

Brasserie S&P Restaurant, San Francisco, CA
This elegant property is the seventh addition to the Loews Hotels portfolio announced in the last two and one-half years.  

Loews Hotels will open the 400-room Loews Chicago Hotel on March 2nd and continues to seek to grow its brand in gateway cities and resort destinations.

Like Loews Hotels & Resorts on Facebook: www.facebook.com/LoewsHotels
Follow Loews Hotels & Resorts on Twitter: www.twitter.com/loews_hotels
Watch Loews Hotels & Resorts on YouTube: www.youtube.com/LoewsHotels
Read our Wish You Were Here Blog at www.loewshotelsblog.com

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

Sarah Murov                                                                                       
Loews Hotels & Resorts                                                                     
(212) 521-2495                                                                   

Hotel Zephyr Fisherman’s Wharf to Shake Up San Francisco Hotel Scene with Adventurous Twist

Planned Hotel Zephyr, currently on site of Radisson Fisherman's Wharf, San Francisco, CA

Andrea Dawson Sheehan
San Francisco, CA – Feb. 17, 2015 – Davidson Hotels & Resorts has teamed up with acclaimed international design firm Dawson Design Associates to launch Hotel Zephyr, an upscale hotel property with a fresh and irreverent twist.

As one of the rare waterfront hotels in San Francisco, Hotel Zephyr will offer a one-of-a-kind hotel experience in the heart of the city’s iconic tourist attractions.

The property, currently the site of the Radisson Fisherman’s Wharf and spanning over the entire block bound by Jefferson, Powell & Beach St., was acquired by Pebblebrook Hotel Trust in December 2013.

The hotel, completely transformed and re-imagined, will bring a new dimension to the Wharf by offering a twist on accommodations with a playful personality.

Spirited travelers, adventure-seekers and work-hard-play-harder road warriors will all find fun and comfort among Hotel Zephyr’s smart, upscale accommodations, engaging community spaces and welcoming staff. 

Carmen Cruz
Turning the maritime narrative on its head, Hotel Zephyr’s character is brought to life through the use of unexpected materials, from recycled corrugated metal and cargo containers to upcycled nautical materials and shipping crates. Guests will be amazed and delighted by scrap transformed into treasure at every corner.

“Our design team’s inspiration grew from capturing the spirit of rough and rowdy sailors and infusing thematic elements throughout the hotel to create the fresh spirit of Hotel Zephyr,” said Andrea Dawson Sheehan, DDA’s Art Director & CEO.

Hotel Zephyr Fisherman’s Wharf features 361 stylish waterfront guest quarters, many including personal balconies designed to ignite everyone’s inner explorer. 

Guestrooms offer direct views of the stunning San Francisco Bay and elegant cityscapes, including panoramic views of the iconic Golden Gate Bridge, Alcatraz, Fisherman’s Wharf, Coit Tower and the Bay Bridge.

Guests are inspired to interact with their surroundings and others in communal gathering areas featuring classic games with unique twists, social activities and laid-back lounging alongside one-of-a-kind fire pits. 

Fisherman's Wharf, San Francisco, CA
“We’re creating a hotel for travelers who are seeking a unique, authentic San Francisco experience,” said Carmen Cruz, general manager of Hotel Zephyr.

 “Our promise at Hotel Zephyr is to inject a sense of discovery, amusement and wonder into an upscale hotel experience.”

Hotel Zephyr’s transformation marks yet another step in the revitalization of Fisherman’s Wharf into a world class visitor’s destination. 

With more waterfront views than almost any other San Francisco hotel, Hotel Zephyr is just steps away from Pier 39, Ghirardelli Square and the Alcatraz ferry landing, and it is close to many convenient transportation options, including the famed San Francisco cable cars.

The hotel will remain open during the renovation, which is expected to be complete in spring 2015. To learn more, please visit: http://www.hotelzephyrsf.com

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

Christina Khoury, WCG
(612) 806-0757 - ckhoury@wcgworld.com

Voit Real Estate Services Announces Top Producers and Rising Star for 2014

Jason Gallelli
Newport Beach, CA (Feb. 17, 2014) – Voit Real Estate Services recently announced its Top Producers and Rising Star for 2014.

 “We are proud to recognize our top brokerage professionals who have achieved the highest levels of success,” commented Eric Hinkelman, Executive Managing Director for Voit.

Voit Real Estate Services’ company-wide top producer in 2014 was Jason Gallelli, Executive Vice President in Voit’s Sacramento office. This was Jason’s second year in a row as Voit’s company-wide top producer and in 2013, Jason was the number one broker in all of Sacramento.

 The Sacramento Broker of the Year awards will be in March when the 2014 broker standings will be announced. 

Jason was named the Sacramento Association of Commercial Real Estate’s overall #1 broker for all brokerage companies in the region in 2007, 2009, 2010, 2011 and 2013.

Walt Chenoweth

Jason specializes in retail and has more than 23 years of experience in Commercial Real Estate. At Voit, he leads a 7-member team and attributes his immense success to hard work, anticipation of client demands and an amazing team, who shares the same vision and expectations.

“I would not be in this position if it wasn’t for my team,” stated Jason.  “I am so fortunate to work with a group of people who share my vision, are so loyal and have such a complete understanding of what they do individually and as a whole.  We are always looking for ways to improve what we do and find better ways to translate our continued efficiencies into success for our clients.”

The rest of the top 10 producers at Voit for 2014 included the following (in alphabetical order):

Seth Davenport, Senior Vice President in Anaheim, Walt Chenoweth, Executive Vice President in Inland Empire, Frank Geraci, Executive Vice President in Inland Empire, Mike Hefner, Executive Vice President in Anaheim, Kevin Higgins, Executive Vice President in Las Vegas, Garrett Toft, Senior Vice President in Las Vegas, Greg Velastegui, Senior Vice President in Irvine and Mitch Zehner, Executive Vice President in Anaheim.

Seth Davenport
Frank Geraci, Executive Vice President in Voit’s Inland Empire office and the top brokerage professional in the combined markets of Inland Empire and Los Angeles, specializes in Industrial leasing and sales and attributes his success to never being satisfied with the status quo. 

“The industrial market has been kind to any buyer, seller or broker that participates in the process, and I have been one of those people,” commented Frank.  

“2014 was another record year for Industrial in southern California and I am confident that 2015 will be a repeat of last year’s performance, with a lot of help from overseas’ capital and the growth of the nascent e-commerce and mobile commerce industry which is radically affecting space needs as more consumers avoid bricks and mortar retail and make their purchases from mobile.

 "Voit’s Inland Empire office is well-positioned to help investors, tenants, developers and sellers capitalize on these dynamics.” 

Mitch Zehner
The 2014 top producer at Voit in the Las Vegas region was Kevin Higgins, Executive Vice President. Kevin has been with Voit since 2002 and specializes in business park investments and leasing. 

Kevin and his fellow Voit Las Vegas team member, Garrett Toft, Senior Vice President, were both named Top Nevada Brokers in 2014 by Nevada Business Magazine.

“2014 was a pivotal year for the Higgins & Toft team as well as for the Las Vegas Industrial market,” according to Kevin.

 “Prologis broke ground on the first speculative industrial development in over 7 years. Our team represented Prologis on the pre-leasing on that 464,000 square-foot distribution facility while still under construction. 

"The Higgins & Toft team members are helping others make the transition from distressed property acquisitions to core acquisitions and new development. Las Vegas will see a great deal of speculative development over the next 12 to 24 months and we are excited to be at the forefront of this next phase in our market.”

Garrett Toth
In January, Ryan Miller, Senior Associate in Voit’s Inland Empire office was named Voit’s 2014 Rising Star. 

By receiving this designation, Ryan has also been invited to the company’s annual broker incentive trip with Voit’s top producers company-wide. 

This year’s trip will be to the five-diamond Rancho Valencia Resort & Spa in Rancho Santa Fe, ranked #1 in U.S. News & World Report’s annual ranking of top hotels in the nation.

Ryan began his career with Voit in late 2008 in the heart of one of the most severe economic recessions our country has ever endured.  

  After completing his training in Irvine, Ryan moved to Voit’s Inland Empire office, where he excelled despite the extreme challenges of the market at the time and has quickly proven himself to be an integral team member in his office and to the company.

Since 2011 Ryan has nearly doubled his income every year and truly found his groove in 2014.  Ryan’s work ethic and his confidence to pick up the phone and communicate with any type of client is unmatched within his peer group.

Frank Geraci
  Confidence and humility are rarely displayed by the same individual in this business and Ryan embraces both.  

He is the first to give credit to a teammate and the first to recognize areas of improvement in his life both personally and professionally.   

He inspires those around him by not taking himself too seriously and with the positive energy he brings to the workplace.

According to his Managing Director, Ian Britton, “Ryan’s ability to share, grow and invest both in himself and others will only continue to serve him well as he matures in his career.  

"He is a great example of the type of professional we are proud to have carrying the Voit flag.”

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

Jessamyn J. Miller | Marketing Manager
Voit Real Estate Services
101 Shipyard Way | Newport Beach, CA 92663
T (949) 566-6422 | C (949) 929-7147
Voit Real Estate Services, Broker License #01333376