Friday, February 20, 2015

Hold-Thyssen Negotiates Six Leases at Phillips Place totaling over 8,700 square feet in Southwest Orlando, FL

Darby Hold
ORLANDO, FL --- Hold-Thyssen, a real estate services firm headquartered in Winter Park, recently negotiated six lease agreements for a total of 8,776 rentable square feet at Phillips Place, 7575 Dr. Philips Blvd. in Southwest Orlando. 

Darby Hold, transaction specialist for Hold-Thyssen, Inc. negotiated all six transactions representing the Cincinnati, Ohio-based landlord, Financial Way Realty, Inc. 

Equity Investment Services LLC leased 1,851 square feet in the Phillips Place office building due to its excellent location.  The commercial real estate investment and advisory company was represented by Matthew Edmiston of the firm.  

Beyer Brown Enterprises, Inc., with over 35 years experience in the hospitality procurement industry, leased 1,149 square feet in the Phillips Place office building. Matthew Edmiston with Equity Investment Services represented the tenant.

Phillips Place, 7575 Dr. Phillips Boulevard,
 Southwest Orlando, FL
Team Magic Real Estate d/b/a ReMax Magic leased 1,691 square feet and was represented by Jeff Koch with AmeriTeam Realty.

American Concept & Design, already a tenant at the Phillips Place office building renewed a lease of 516 square feet and expanded with a new additional lease of 1,125 square feet.  

Dr. Phillips Ear, Nose & Throat Specialists renewed its lease of 2,007 square feet and Executive Properties of Florida LLC, renewed their lease of 953 square feet

Hold-Thyssen, Inc. is the leasing and management representative for the 56,000 square foot Phillips Place Office Building, which is now 85 percent leased

Hold-Thyssen, Inc. provides commercial property and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States.

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

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

$680 million financing and equity arranged by HFF for 61-story Four Seasons Hotel & Private Residences in Boston’s Back Bay

Rendering of planned 61-Story Four Seasons Hotel & Private Residences
One Dalton Strreet, Back Bay District, Boston, MA

Robyn King
BOSTON, MA – HFF announced today that is has arranged construction financing and joint venture equity totaling $680 million for the 61-story Four Seasons Hotel & Private Residences One Dalton Street, Boston, the tallest building to be constructed in New England since the early 1970s.

                HFF worked on behalf of Carpenter & Company, Inc. to secure the $500 million construction loan through The Children’s Investment Fund Management (UK) LLP.  Citi Private Bank raised $180 million in joint venture equity for the project.

                Designed by architects Pei Cobb Freed & Partners in collaboration with Cambridge Seven Associates, Four Seasons Hotel & Private Residences One Dalton Street, Boston will be the only super luxury high-rise residential tower in the city, offering spectacular unobstructed views in all directions.

The project will also launch Boston into an elite group of only seven cities around the world that is home to more than one Four Seasons hotel, including London, Shanghai, Singapore, Istanbul, New York, Los Angeles, and Chicago.

Riaz A. Cassum
                The development will consist of 180 high-end private residences on floors 25 through 61 of the building and a 211-room luxury hotel occupying the lower 23 floors. 

 In addition to exclusive residential amenities, residents will have full access to all of the hotel’s world-class services and amenities, including two restaurants, two lounges and a private health club and spa featuring a 70-foot-long swimming pool located along an exterior glass wall.

 Both the hotel and residential entrances and lobbies will front the new park being developed across the street and are adjacent to the 10-acre Christian Science Plaza, which provides built-in open space for residents.  

The property is within close proximity to the shops, restaurants and entertainment venues of Copley Place, The Prudential Center, Boylston Street and Newbury Street, as well as cultural amenities such as the Boston Public Library, Symphony Hall and the Museum of Fine Arts. 

Public transportation is available via the MBTA’s Green and Orange Lines.  The project broke ground January 2015, and construction is estimated to occur over a two and a half year period.

John Fowler
                The HFF debt and equity placement team representing the borrower was led by senior managing director Riaz Cassum, executive managing director John Fowler and senior real estate analyst Robyn King.

                “One Dalton will deliver an unmatched, super luxury product marked by iconic architecture, a coveted address and walkability to renowned Back Bay shopping and restaurants coupled with Four Seasons’ legendary hotel services, top-of-the-line amenities and dramatic panoramic views,” Cassum said.  “This is a legacy development, the size and scale of which are unlikely to be duplicated in the city.”

                In existence since 1898, Carpenter & Company, Inc. is a highly respected and experienced firm involved in real estate development, ownership and management. 

Carpenter was incorporated in 1973 by Richard L. Friedman, and, since that time, has devoted most of its resources to the development of hotels, mixed-use projects and retail properties.  In the last 12 years alone, Carpenter has successfully developed hotel and mixed-use projects valued today at more than $1 billion. 

Richard L. Friedman

Carpenter is particularly adept at working closely with institutional, governmental, community, neighborhood and political groups to create an inclusive development process that helps to ensure the successful completion of a project. 

Some of Carpenter’s projects include the St. Regis San Francisco Hotel and Residences, the Liberty Hotel, the Logan Airport Hilton, the Brookline Marriott Courtyard, Charles Square and the Charles Hotel and the Westin Boston Waterfront.

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 |

HFF closes sale of dual-anchored retail center in Houston, TX

Copperfield Village Shopping Center, 7081 State Highway 6 North, northwest Houston, TX

Rusty Tamlyn

HOUSTON, TX – HFF announced today that it has closed the sale of Copperfield Village Shopping Center, a 165,293-square-foot, dual-anchored retail center in northwest Houston, Texas.

HFF arranged the sale of the property on behalf of the seller, Copperfield Village Investors, L.P.  Kimco Realty Corporation purchased the asset for an undisclosed amount and assumed an existing loan.

                Copperfield Village Shopping Center is situated on 16.43 acres at 7081 State Highway 6 North.  The property’s location in the 2,000-plus-acre Copperfield master-planned community places it in a densely-populated area with an estimated 350,000 residences within a five-mile radius.

 The center is 92 percent leased to anchors Sprouts Farmers Market and Ross Dress for Less in addition to Goody Goody Liquor, Dollar Tree, Five Below, Panera Bread and Leslie’s Pool.

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

“Kimco continues to expand its presence in Houston and in Texas,” West said.  “They were the logical buyer as they now own assets on all three corners of the intersection.”

Ryan West
“The combination of strong sales and below market rents was a large contributor to the substantial interest we received from a variety of buyer types,” Berry added.

Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, New York, that owns and operates North America’s largest publicly-traded portfolio of neighborhood and community shopping centers. 

As of December 31, 2014, the company owned interests in 754 shopping centers comprising 110 million square feet of leasable space across 39 states, Puerto Rico, Canada, Mexico and Chile. 

  Publicly traded on the NYSE since 1991 and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 50 years. 

For further information, please visit, the company’s blog at or follow Kimco on Twitter @kimcorealty.

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 |

Marcus & Millichap Arranges Sale of Ridge Gardens Apartments in Sarasota, FL for $2.6 Million

Ridge Gardens Apartments, 3001 Bee Ridge Road, Sarasota, FL

Adam Podbelski
SARASOTA, FL, Feb. 20, 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 Ridge Gardens, a 48-unit apartment community located in Sarasota, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. 

The $2,622,000 sales price equates to $54,625 per unit.

Adam Podbelski, associate, Nicholas Meoli, associate vice president investments, and Michael Donaldson, vice president investments, all in Marcus & Millichap’s Tampa office, represented both parties in this transaction. 

Ridge Gardens is located at 3001 Bee Ridge Road in Sarasota, Florida.  The property consists of two, two-story buildings which are comprised of 42 one-bedroom/one-bathroom units and six, two bedroom/one-bathroom units.

Nicholas Meoli
Built in 1964, the property is contained on approximately 1.24 acres of land.  Amenities include a swimming pool, ample parking, storage units and an on-site laundry facility.

“Ridge Gardens showcased a great example of the current investor demand for multifamily product in Sarasota County,” says Podbelski.  

“By emphasizing the strong market fundamentals in addition to the value-add potential of the asset, we were able to generate nine offers within 30 days of launching our marketing campaign, and ultimately closed with an all-cash buyer based out of South Dakota.”

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

Richard D. Matricaria
Vice President/Regional Manager
Tampa, FL
(813) 387-4700

$21.8 Million Multifamily Asset Trades in Central Florida

University Club Apartments, 12702 University Club Drive, Tampa, FL

Francesco Carriera
 TAMPA, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has arranged the sale of University Club, a 536-unit multifamily property in Tampa. The $21.8 million sales price equates to $40,672 per unit.

            Completed in 1975 on 19.4 acres, the investment real estate asset consists of 68 two- and three-story residential buildings with 256 one-bedroom/one-bath units, 200 two-bedroom/two-bath apartments and 80 three-bedroom/two-bath units.

            “We received multiple offers within our marketing period and were able to execute with price and terms that met the seller’s objectives,” says Francesco Carriera, vice president investments in Marcus & Millichap’s Tampa office.

            Carriera and Michael P. Regan, also a vice president investments in the firm’s Tampa office, represented the buyer and seller.

Michael P. Regan
            “The property offers upside potential through strategic capital upgrades supported by strong growth in the immediate area and improving Tampa Bay market conditions,” adds Regan.

University Club is located at 12702 University Club Drive, three blocks south of Fletcher Avenue and three minutes north of Fowler Avenue, two major east-west thoroughfares that connect to Interstate 75 and Interstate 275, which provide convenient commutes to downtown Tampa, Tampa International Airport, Brandon and St. Petersburg.

 The property is one mile from James A. Haley Veterans Hospital and the main campus of the University of South Florida.

All apartments at University Club have central heating and air-conditioning and balconies or patios. Community amenities include 24-hour gated access, on-site laundry facilities, a fitness center, a business center, two dog parks, a playground and two swimming pools.

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

  Gina Relva
Public Relations Manager
(925) 953-1716

RealtyTrac Notes Institutional Investors Have Purchased Half a Million Homes in Four Years; 8 Percent of Cash Buyers in Last Two Years Financed Home After Purchase;

Mike Pappas

IRVINE, CA, Feb. 20, 2015 — RealtyTrac® (, the nation’s leading source for comprehensive housing data, today released its Q4 and Year-End 2014 U.S. Institutional Investor & Cash Sales Report, which shows that the share of home sales to institutional investors and all-cash buyers dropped to four-year lows in 2014 despite a quarterly increase in the fourth quarter.

A total of 105,278 single family homes were sold to institutional investors — entities that purchase at least 10 properties in a calendar year — in 2014, 4.2 percent of all sales and down 31 percent from the 153,450 institutional investor purchases in 2013 to a four-year low. Meanwhile overall sales of single family homes decreased 2 percent between 2013 and 2014.

In the past four years, institutional investors have purchased a total of 528,369 single family homes nationwide, led by Florida (78,155), California (52,802), Georgia (46,914), Arizona (35,979), and North Carolina (34,769).

Wesley M. Hardin
Institutional investor purchases represented 3.7 percent of all single family home sales in the fourth quarter, up from 3.5 percent of sales in the third quarter but still below the 5.4 percent of all sales in the fourth quarter of 2013.

“While the overall percentage of purchases by institutional investors is nothing to write home about nationwide, the true impact of these investors can be seen more clearly at the hyperlocal level,” said Daren Blomquist, vice president at RealtyTrac.

 “There were 35 zip codes nationwide where at least 50 single family homes were purchased by institutional investors in the fourth quarter, with institutional investor purchases representing from 17 percent to 74 percent of all single family home sales in those zip codes.”

“With our limited land and growing population the institutional investors believe our region will outperform the U.S. market,” said Mike Pappas, CEO and president of the Keyes Company, covering the South Florida market, where institutional investors accounted for 21 percent of all single family purchases in zip code 33023 in Hollywood, Florida, in the fourth quarter.

Daren Blomquist
“We are seeing a fair amount of deals in the area as this institutional investor money is really becoming a player,” said Wesley M. Hardin, owner/broker at RE/MAX Alliance, covering the Denver market, which saw an uptick in institutional investors in the fourth quarter.

 “In fact, I closed a deal this past Wednesday from a REIT back east. They sent the offer without seeing the home and closed in about 10 days. The title company told me this was their 256th purchase in the metro area in the last 12 months.”

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

  Jennifer von Pohlmann
  Sr. Data PR Manager
  Office: 949.502.8300 ext 139

RealtyTrac Reports Fewer Home Buyers Using Down Payment Loans


 IRVINE, CA -- RealtyTrac analyzed the size of down payments on nearly 20 million purchase loans for single family homes and condos nationwide from 2004 through 2014 and found that in 2014 the share of buyers putting down 3 percent or less dropped to its lowest level during the last decade.

Share of Buyers Using Low Down Payment Loans Drops to 11-Year Low in 2014

In 2014, 25 percent of buyers using conventional or FHA loans put less than 3 percent down when purchasing a home, down from 27 percent in 2013 and down from a peak of 46 percent in 2009, when a first-time homebuyer tax credit stimulated purchases by first-time homebuyers, who are more likely to utilize low down payment loans.

The share of low down payment loans was at 37 percent in 2006 before the housing price bubble burst, dropping in 2007 and 2008 before jumping again in 2009. Since 2009 the share of buyers using low down payments has dropped every year compared to the previous year.

Average down payment hit high of 15.6 percent ($58,900) in 2013

The weighted average down payment percentage has held fairly steady between about 13 and 16 percent over the past decade. The average down payment percentage reached an 11-year high of 15.6 percent in 2013, falling to 15.4 percent in 2014, while the average down payment percentage was at its 11-year low in 2009, when it was 12.9 percent.

An average purchase price of $291,428 and an average loan amount of $232,527 in 2013 translated into an un-weighted average down payment of $58,900, also the highest in terms of dollar amount of any year since 2004. The un-weighted average down payment in dollars dropped slightly to $58,496 in 2014.

Lowest average sales prices on low down payment purchases

The lower the down payment, the lower the average price, according to the analysis. For purchases where there was no down payment (the combined loan amount was actually more than the purchase price, typically indicating a down payment assistance program or purchase-rehab loan was involved) the average sales price was $154,214, while for purchases with a down payment of less than 3 percent but more than 0 percent, the average sales price was $190,304.

For every down payment percentage range higher, the average purchase price was also higher except for between the 10 to 15 percent and 15 to 20 percent range. On the other end of the spectrum, the average purchase price in 2014 was $502,213 for purchases when the borrower put down 50 percent or more.

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

  Jennifer von Pohlmann
  Sr. Data PR Manager
  Office: 949.502.8300 ext 139

Berger Commercial Realty Brokers Close Five Leases Throughout South Florida Totaling More Than 10,448 Square-Feet

Judy Dolan
FORT LAUDERDALE, FL (Feb. 20, 2015) - Berger Commercial Realty, a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced five new lease transactions from its brokers.

Berger Commercial Realty Vice President Judy Dolan represented Merrill Industrial Center, Inc. in leasing 4,071 square-feet of warehouse space at 3402 S.W. 26 Terrace in Dania Beach to Zeiss Battery, LLC.

Dolan, along with Berger Commercial Realty Sales Associate Jonathan Thiel, also represented JAWOF Divine Square, LLC in leasing 1,597 square-feet of office space, located at 633 N.E. 167 St. in North Miami Beach, to Sensational Video, Inc.

Jonathan Thiel
Additionally, Dolan and Berger Commercial Realty Broker Associate Greg Milopoulos represented landlord GA 4711 Australian Avenue, LLC in leasing 1,532 square-feet of warehouse space at 4711 N. Australian Ave. in Mangonia Park to Fikes Wholesale, Inc., doing business as Cord Financial Services.

Milopoulos also represented Black Oak Partners, LLC, along with Berger Commercial Realty Vice President Joseph Byrnes, in leasing 1,232 square-feet of office space, located at 2005 Vista Parkway in West Palm Beach, to FCM FL Dunes, LLC.

Additionally, Milopoulos represented Prestige Wholesale, Inc. in leasing 2,016 square-feet of warehouse space, located at 5051 N.W. 13 Ave. in Deerfield Beach, from Mancini and Sons Florida, represented by Berger Commercial Realty Broker Associate Roxanna Collins and Sales Associate Catalina Garcia-Herzog.

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

Marielle Sologuren
Pierson Grant Public Relations
954-776-1999, ext. 226

NAI Realvest Negotiates Long Term Lease renewal for 20,276 Square Feet at Semoran CommerCenter in Southeast Orlando, FL

Mary Frances West
ORLANDO, FL – NAI Realvest recently negotiated a long-term lease renewal agreement for 20,276 square feet of office space in Suite 101 of the Semoran CommerCenter located at 6830 Shadowridge Drive off SR 436 near Orlando International Airport in southeast Orlando.

Tom R. Kelley, CCIM, principal and Mary Frances West, CCIM, senior broker associate at the firm, negotiated the transaction representing the landlord, Semoran CommerCenter LLC based in Timonium, Md.

The tenant, Paychex North America, Inc. headquartered in Rochester, NY was represented by Mike Maroon of The Acclaim Group.

The Kelley and West team at NAI Realvest are leasing agents for the Semoran CommerCenter which is currently 100 percent leased in Phase One. Site work is underway on Phase Two.

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

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

Robin Webb, CCIM, Named to NAI Global Members’ Leadership Board

Robin Webb
ORLANDO, FL  – Robin Webb, CCIM, managing director at NAI Realvest, was named to the 2015 NAI Global Members’ Leadership Board.  NAI Global is ranked as the single largest and most powerful global network of owner-operated commercial real estate brokerage firms.

“Robin brings more than 30 years of experience in all aspects commercial real estate that will greatly benefit our members,” said Jay Olshonsky, president of NAI Global.

“We are delighted that he will serve in this leadership role to advance the organization’s efforts.”

Webb joins 18 other commercial real estate executives from NAI Global member firms currently serving on the board. 

 The NAI Global Members’ Leadership Board provides proactive leadership to increase the profitability, professionalism, technical capability, integrity and standards of practice that reinforce and generate mutual trust and respect throughout the organization.

Webb has managed and directed real estate operations for three decades and has exceeded $1 billion in closed sales volume, during his years in personal production. Webb has been ranked among the top five investment brokers in Central Florida by the Central Florida Commercial Real Estate Society.

Jay Olshonsky
 He is a Certified Commercial Investment Member (CCIM) and Senior CCIM Instructor, a member of the CCIM Institute Board of Directors, President of the CCIM Foundation, and is the CCIM Technologies director. Webb will serve as the 2017 global president for the CCIM Institute.

 He is a Member of the Royal Institution of Chartered Surveyors (MRICS), and is Certified Property Manager (CPM), Certified Hotel Administrator (CHA), Certified Hotel Broker (CHB) and Certified Real Estate Broker (CRB).

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

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

Berkadia Negotiates $3.5 Million Price in Sale of Seven-Acre Multi-Family Development Site in Fort Myers, FL

Mary Beale
ORLANDO, FL and FORT MYERS, FL --- Berkadia, one of the nation’s largest and most active multifamily investment banking and research companies,  recently negotiated a $3.5 million price in a sale of the 7.87-acre Plaza Fort Meyers multi-family development site located at 2144 McGregor Boulevard in Ft. Myers.

Cole Whitaker, Florida partner for Berkadia, negotiated the sale with Senior Partner Hal Warren and Broker Associate Mary Beale. Berkadia represented the seller, Land Holding LLC.

Madison Ave Investment Group acquired the site, located adjacent to the Publix Supermarket at First Street Village three blocks from U.S. 41 and one block from the river.

Cole Whitaker
Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties.  

Berkadia is among the largest, highest rated and most respected primary, master and special servicers in the industry.

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

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