Tuesday, April 7, 2015

HFF secures $40 million financing for apartment community in Denver’s Cherry Creek area

Jennifer L. Keller
NEW YORK, NY – HFF announced today that it has secured $40 million in financing for Broadstone Gardens at Cherry Creek, a 191-unit, Class A apartment community in Denver’s Cherry Creek area.
                Working on behalf of institutional investors advised by J.P. Morgan Asset Management, HFF placed the short-term, floating-rate loan with Wells Fargo.
                Completed in 2014, Broadstone Gardens at Cherry Creek is a LEED Gold property located on the southwest corner of Harrison Street and East Cedar Avenue within walking distance to Cherry Creek Mall and the Cherry Creek North shopping district. 

Mike Tepedino
The property has one-, two- and three-bedroom floor plans averaging 991 square feet each. 
 Community amenities include a clubhouse with conference room and kitchen, coffee bar, resident gardening plots, electric car charging station, fully-equipped fitness center with CrossFit Studio, outdoor grills, resort-style swimming pool, rooftop lounge and an on-site recycling program.
The HFF debt placement team representing the borrower was led by senior managing directors Mike Tepedino and Eric Tupler, director Jennifer Keller and associate director Leon McBroom.

Eric Tupler
“The property’s quality and location in the heart of Cherry Creek, Denver’s premier residential neighborhood, generated very strong lender interest in the financing, despite the property still undergoing full stabilization,” said 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

Proper Title Hires Real Estate Veterans Samuel A. Shiel, Esq. and Kim O’Donnell as Firm Prepares for Growth

Kim O'Donnell
CHICAGO, IL  (April 7, 2015) – Northbrook, Ill.-based Proper Title, LLC, a full-service title insurance agency serving the residential and commercial real estate industries, announced it has welcomed industry leaders Samuel A. Shiel, Esq., as director of title operations/underwriting counsel, and Kim O’Donnell, as senior account executive. 

Combined, Shiel and O’Donnell bring more than 45 years of experience in the title insurance industry to Proper Title.

Samuel A. Shiel
Ben Niernberg, executive vice president of business development and operations at Proper Title, said, “Our mission at Proper Title is to bring an innovative and progressive approach to a storied industry, and the only way that can be achieved is through people who share that vision.”

He added, “With accomplished industry veterans like Sam and Kim joining our firm, it not only demonstrates the breadth and depth of knowledge available at Proper Title, but also that we are a destination for the industry’s top talent.” 

For the past 25 years, Shiel, 48, has served as an examiner and counsel for both private title insurance providers as well as public agencies, including appointments as a court-appointed receiver in a fraud case, in addition to serving as deputy general counsel for the Illinois Department of Financial and Professional Regulation. 

O’Donnell, 45, has spent the past 19 years with Chicago Title Insurance, marketing title insurance and escrow services to the Chicago area’s leading developers, attorneys, investors, lenders and mortgage brokers. In that role, she developed and maintained 350 major accounts and managed a $5 million territory.

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

Julie Liedtke, jliedtke@taylorjohnson.com, (312) 267-4521
Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

New Shopping Center in Kissimmee, FL Added to Crossman & Company’s Portfolio

Rochelle DuBrule
Orlando, FL – Strategically located on 192 in Kissimmee, Plaza del Sol is the shopping center of choice for weekend entertainment, food and shopping.

The property was purchased by Canadian Investors in 2013 and the area of the mall known as Mercado was remodeled.

Notable tenants include Ross, Burlington, Planet Fitness, Foot Locker and Florida Technical College’s Kissimmee campus.

Crossman & Company Associate, Rochelle DuBrule is the leasing agent handling all anchor and outparcel opportunities. 

She can be contacted at (407) 581-6248 or via email at rDuBrule@crossmanco.com.

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

Sydnie Cobb
 Crossman & Company


IDI Gazeley Appoints Kent D. Greenawalt New Global Chief Operating Officer

Jay Cornforth
ATLANTA, GA (April 7, 2015) – IDI Gazeley, a leading global investor and developer of logistics warehouses and distribution parks, today announced that Kent D. Greenawalt has joined the company as Global Chief Operating Officer.

He will work closely with the global teams to continue to refine operating standards and to help direct the implementation of strategic business plans. 

Greenawalt will participate in key decisions as a member of the executive management team and will assist in formulating the company's future direction and supporting tactical initiatives. He will be based in the company’s North America Core Support office in Atlanta.

“Kent’s global experience and inside knowledge of the organization make him a natural fit for this position,” said Jay Cornforth, Managing Partner, Global Head of Industrial at Brookfield Properties and CEO of IDI Gazeley North America.

“His deep operational background combined with strong leadership and team building skills ensure that our Operating platform achieves the highest level of service to our customers.”

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

Matt Scofield
P 404-214-3554
M 404-312-8325

Marcus & Millichap Arranges Sale of Net-Leased Chevron Gas Station in North Miami Beach for $1.35 Million

Chevron gas station, 10 NW 167th Street, North Miami Beach, FL

Jonathan Gerszberg
NORTH MIAMI BEACH, FL,  April 7, 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 10 NW 167th Street, a 4,544-square foot net-leased Chevron gas station located in North Miami Beach, Fla.  

The asset sold for $1,345,750 representing a 7.43 percent CAP rate.

Jonathan Gerszberg, an associate vice president investments, and Andy Charry, an associate, in Marcus & Millichap’s Miami office, represented the buyer, a private investor and operator.

“We recently sold a nearby retail center for the buyer and he used the proceeds to purchase this property.  

"He has a vision for improving the property, and has already signed a new tenant, Metro PCS, and plans to establish a Crunchy Chicken eatery at the gas station,” says Charry.

Situated at a signalized intersection with excellent east and west bound ingress and egress access, the fully operational Chevron gas station is located at 10 NW 167 Street in North Miami Beach, Fla.

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

Kirk A. Felici
First Vice President/Regional Manager, Miami

(786) 522-7000

RealtyTrac Adds Internet Veteran Michael Sawtell as EVP/GM of Consumer Solutions

Michael Sawtell
IRVINE, CA,  April 7, 2015 — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, announced today that 20+ year industry veteran Michael Sawtell has joined the company as Executive Vice President and General Manager of Consumer Solutions.

 In this role, Michael is tasked with expanding the company’s suite of consumer products while increasing consumer awareness and demand.

Most recently, Michael worked at Local Corporation, a local search and advertising technology company, where he served as President and Chief Operating Officer for 3 years, leading the company to nearly $100MM revenue in his last 12 months of tenure.

Jamie Moyle
Previously, Michael founded Irvine-based DigitalPost Interactive, parent company of TheFamilyPost.com and Rovion, a rich media online advertising company located in Boston, which was acquired by Local Corporation in 2011. 

This was Michael’s second stint at Local as he was also instrumental in driving that company to a very successful Initial Public Offering in 2004.

Michael’s award-winning career includes eight years of online, public company executive leadership, championing internet technology innovations by bringing technology and product development teams together with business personnel into one fully integrated enterprise.

 Michael’s extensive operational experience was launched when he was assigned to improve operational efficiencies on Northrop Grumman’s top secret B-2 Stealth Bomber for nearly seven years.

“Michael has had proven success in leading online organizations by focusing on the customer and instituting best practices that position companies for sustainability, profitability, and top-line growth, he adds a perfect blend of skills to our team and to this new role at RealtyTrac,” said Jamie Moyle, RealtyTrac CEO. 

“As we look to expand our traffic acquisition and conversion Michael’s experience in increasing revenue will help us transform our customer acquisition business and execute our vision of becoming part of every homebuyer’s process.” 

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

Ginny Walker
949.502.8300, ext. 268

CBRE Arranges Sale of Prime Orlando, FL Office Property

Sand Lake Southwest, 7208 West Sand Lake Road, Orlando, FL

Ronald J. Rogg
   Orlando, FL – CBRE arranged the sale of a 42,277-square-foot Class A office property located at 7208 W. Sand Lake Road, Orlando, FL.  Cardinal Point Management, LLC acquired the three-story Sand Lake Southwest building from an affiliate of Highwoods Properties, for an undisclosed amount.

“The property is strategically located in a highly visible location on Sand Lake Road along Orlando’s tourist corridor,” said Ronald J. Rogg, Executive Vice President of CBRE Capital Markets, Office & Industrial. 

“This transaction demonstrates the strength of the Central Florida office market and the willingness to invest in well-located properties.”

Constructed in 1986, Sand Lake Southwest recently received various capital improvements, including a newly renovated first floor lobby. The property features a 155-space parking lot that encircles the building.

Chip Wooten
Sand Lake Southwest is leased to a well-diversified mix of highly recognizable tenants, including BB&T, Booking.com, Lamar Outdoor Advertising and Fidelity National Financial. 

Located along Orlando’s ”Restaurant Row” in the affluent Dr. Phillips area, the building is just minutes from the Orange County Convention Center, Mall at Millenia, Universal Orlando Resort and the international airport.

 The property offers convenient access to I-4, the Florida Turnpike and the Beachline Expressway (SR 528).

CBRE’s Rogg and Chip Wooten exclusively represented the seller in the transaction.

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

 Ronald J. Rogg, CCIM
Executive Vice President
+1 407 839 3194