Tuesday, November 3, 2015

SVN AuctionWorks to Host Upcoming Auctions for Chicago Area Luxury Estates and Vacation Properties

Diana M. Peterson
CHICAGO, IL (Nov. 3, 2015) – As the use of auctions in high-end residential real estate continues to rise, SVN AuctionWorks has announced the firm will be offering two suburban Chicago luxury estates up for auction, along with four vacation townhomes in a marina resort community in Ottawa, Illinois and a single family home on Wagner Lake in Buchanan, Michigan.

“We are seeing more and more luxury and vacation homeowners opt to forgo traditional sales methods and take advantage of the unique benefits property auctions can offer,” said Diana Peterson, president of Chicago-based SVNAuctionWorks.

“Sellers of these properties are continuing to recognize that auctions are not just for distressed properties, but are a smart strategy to sell homes quickly and for top dollar.

“In fact, each year the industry sees more owners explore a sale via auction as the preferred method to sell their home,” continued Peterson. “This trend has been growing for some time in other affluent metropolitan areas across the country, but here in Chicago we we’ve seen a substantial uptick in the luxury and vacation market over the past year.”

For more information about SVN AuctionWorks, visit www.svnauctionworks.com/.

To learn more about Sperry Van Ness | Chicago Commercial, visit www.svnchicago.com.

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

Cara Mooses, cmooses@taylorjohnson.com, 312-267-4523
Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

Rainy Investments Launches First Phase of Sales at Prairie Crossing, Grayslake,IL

Ken Buckman
CHICAGO, IL  – Rainy Investments, a real estate investment firm focused on single-family homes in the greater Chicago area, announced it has launched the first phase of sales at Prairie Crossing, a 677-acre conservation community located in Grayslake, Illinois.

The firm will be renovating and selling a total of 19 homes at Prairie Crossing, with four immediate deliveries available. 

“Prairie Crossing is one of the most unique and environmentally friendly communities this firm has worked in,” said Ken Buckman, CEO of Rainy Investments.

 “It’s amazing when you consider this truly sustainable community is just an hour northwest of Chicago, and that homebuyers will have an opportunity to be part of it.”

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

Institutional-Quality Multifamily Asset Snapped Up in Scottsdale, AZ

John Cunningham
SCOTTSDALE, AZ – Highly amenitized multifamily opportunities continue to garner top billing among developers and investors. In an off-market deal,

Simpson Housing, LLLP purchased Jefferson on Legacy, a 322-unit multifamily property located in Scottsdale, Arizona.

JLL’s Capital Markets experts brought the new buyers to the table after securing joint venture capital for the project in late 2013; JLL joined the project’s developer, JPI, with AEW Capital Management, L.P. to capitalize the project.

Executive Vice President John Cunningham and Vice President Charles Steele led the JLL team on both the buy-side and joint venture equity transactions.

“Transacting on an asset prior to stabilization has been challenging in the current market environment,” said Cunningham. “Jefferson on Legacy’s irreplaceable North Scottsdale location and enduring construction quality proved to be substantial motivators for our client.”

Located in the One Scottsdale mixed-use development, Jefferson on Legacy is located near diverse high-paying jobs and world-class retail, dining and entertainment amenities. The community was completed in September 2015 and is approximately 45 percent occupied. Simpson will take over management and leasing of the community and will rename the property Avion on Legacy.

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

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

National Retail Properties Inc. Announces Record Third-Quarter Operating Results and 2016 FFO Guidance

Kevin Habicht
Orlando, FL,  Nov,  3, 2015 – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced its operating results for the quarter and nine months ended September 30, 2015.

Highlights include:

• FFO per share and Recurring FFO per share increased 11.5% over prior year results
• AFFO per share increased 11.3% over prior year results
• Portfolio occupancy was 99.1% at September 30, 2015, as compared to 98.8% at June 30, 2015 and March 31, 2015
• Invested $263.8 million in 97 properties with an aggregate 732,000 square feet of gross leasable area at an initial cash
yield of 7.2%
• Sold five properties for $8.2 million producing $1.9 million of gains on sales, net of income tax
• Raised $38.2 million in net proceeds from the issuance of 1,045,972 common shares
• Results include $1.95 million of rental revenue from a 2013 tenant default settlement

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

Kevin B. Habicht
Chief Financial Officer

(407) 265-7348 

JLL report cites electricity prices, tax incentives and M&A growing data center market footprint

Jonathan Meisel
PHOENIX,  AZ – As more global companies move data and information to the cloud, the cloud itself is actually moving closer to them.

 According to JLL’s annual Data Center Outlook, several North American data center markets – including Phoenix – have emerged as hotspots as operators and cloud providers follow affordable utility rates, tax incentives and a demand for expanded service offerings.

 For an industry expected to see revenue grow by 14 percent over the next two years, footprint flexibility has proven to be a key driver.

“For every penny a data center provider can save in Kilowatt hours (kwH), there is the potential to save millions in operations,” said Jon Meisel, East Region lead for JLL’s Data Center Solutions.

“So our clients have to be very strategic with their footprints. It’s still about locating near infrastructure-robust metropolitan areas, but it’s also about finding ways to be efficient with their locations. If that means placing some part of their footprint in regions with more flexible utility costs, incentives packages or lower taxes, providers will expand into those areas.”

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

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

HFF closes sale of The Villas at Sienna Plantation in Missouri City, TX

The villas at Sienna Plantation, 8585 Sienna Springs Boulevard, Sienna Plantation,
 Missouri City, TX

Todd Marix
HOUSTON, TX – Nov. 3, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of The Villas at Sienna Plantation, a 190-unit, Class A+ multi-housing community within the Sienna Plantation master-planned community in the southwest Houston suburb of Missouri City.

HFF marketed the property on behalf of the seller, a joint venture between Watermark Residential and Murphy O’Brien.  Sun Holdings Group purchased the asset for an undisclosed amount free and clear of existing debt.

The Villas at Sienna Plantation is located at 8585 Sienna Springs Boulevard within Sienna Plantation, a 10,000-acre, mixed-use, master-planned golf course community situated just off State Highway 6 in Missouri City. 

The community is approximately 12 miles from Sugar Land, 18 miles from the Texas Medical Center and 23.5 miles southwest of downtown Houston.  Completed in 2015, the two-story community spans 12.21 acres and has one-, two- and three-bedroom floor plans averaging 1,103 square feet each. 

Community amenities include a resort-style swimming pool with tanning ledge, poolside cabanas, poolside grilling area, fully-equipped fitness center, enclosed dog park, clubhouse, conference room, and game room with shuffle board, billiards table and arcade gaming area.

The HFF investment sales team representing the seller was led by Todd Marix, Todd Stewart, Chris Curry and JC Clemens.

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

Capital Square Realty Advisors Acquires Newly-Constructed Medical Office Building in El Paso, TX

Louis Rogers
EL PASO, TX – Capital Square Realty Advisors, LLC announced it has acquired a newly-constructed 19,855-square-foot medical rehabilitation facility in El Paso, Texas, that is 100 percent leased to Mentis Neuro El Paso LLC.

“This brand new, high quality medical facility is leased on a long-term triple net basis to an established tenant that outgrew its previous location,” said Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors.

“With healthcare expenditures expected to reach $4.8 trillion by 2021 and an aging American demographic, healthcare assets like this one are an excellent investment for Capital Square’s growing number of investors nationwide.”

Located at 4360 Doniphan Drive, the single-story building was designed and built especially for Mentis Neuro El Paso for use as a rehabilitation facility.

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

Julie Leber
Spotlight Marketing Communications
949.427.5172 ext. 703

WNC provided $12.7 million in LIHTC equity to fund Malden Mills Phase II – Loft Five50 in Lawrence, MA

Michael Gaber
BOSTON, MA – WNC, a national investor in real estate and community development initiatives, announced today the completion of Malden Mills Phase II – Loft Five50, comprised of 62 units of affordable housing in Lawrence, Mass.

WNC provided approximately $12.7 million in low-income housing tax credit (LIHTC) equity to fund the adaptive reuse project that is transforming the historic former Malden Mills manufacturing site into affordable housing.

“The redevelopment of the second phase of Malden Mills presented an excellent opportunity to preserve local history while providing a modern structure and amenities that enhance the local community and the lives of the individuals and families that reside there,” said WNC Executive Vice President and Chief Operating Officer Michael Gaber. 

“The completion has generated an overwhelming response from applicants, with more than 600 potential tenants expressing interest.”

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

Julie Leber
Spotlight Marketing Communications
949.427.5172 ext. 703

Post Properties Announces Third Quarter 2015 Earnings

Dave Stockert
ATLANTA, GA--(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS) announced today net income available to common shareholders of $19.2 million, or $0.35 per diluted share, for the third quarter of 2015 compared to $132.8 million, or $2.44 per diluted share, for the third quarter of 2014.

Net income available to common shareholders for the nine months ended September 30, 2015, was $56.9 million, or $1.04 per diluted share, compared to $192.9 million, or $3.54 per diluted share, for the nine months ended September 30, 2014.

Dave Stockert, Post’s CEO, said, “The Company produced another quarter of solid growth and increased full-year guidance, against a backdrop of ongoing favorable conditions for our business. We continue to execute a range of capital investments in order to enhance the portfolio and create value.”

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

Post Properties, Inc.

Chris Papa, (404) 846-5028

Real Estate Capital Institute Predicts More Gradual Returns in Debt and Equity Markets

Jean Darrow Peck
Chicago, IL -- Weaker job growth and lackluster retail sales reports create divergent opinions among bond investors.  Many believe the Fed is less likely to push through rate increases, resulting in an inverted swap-to-treasury curve. 

Mortgage spreads widened in recent weeks as CMBS buyers flock to higher quality offerings, forcing more marginal pools to sell at wider discounts.

For instance, the highest-credit rated portions of current securitized mortgage pools are more than 30 basis point wider as compared to earlier in the year.  And increases of at least ten basis points are commonplace versus
earlier in the fall.  However, highest quality assets still attract pricing inside of the new benchmark of 4% for 10 year funds.

During October rates trended upward, with a spike at the end of the moth. The 5-year T-Note rate ranged from 1.25%-1.53%; the 10-year rate moved about
20 basis points, settling at a high of 2.17%.  Short-term rates remained mostly unchanged.

The trend continues for higher prices across the realty investment spectrum as a long-term phenomenon, so select investors refocus on using equity returns (e.g., equity multiples) as key benchmarks, instead of a heavier
reliance on discounted cash flow modeling.  

Such investors often believe that cash flow growth will be more lackluster than previously projected,
expecting flatter annual returns.  That said, buyers often absorb lower returns based upon relatively low mortgage rates.  The correlation between higher mortgage rates and capitalization rates has about 100 basis points of capitalization rate "shimmy." 

The Real Estate Capital Institute's Jeanne Darrow Peck suggests, "Glamorous
profits and stellar returns in both the debt and equity markets are today
more distant than any time since the Great Recession.  Expect more gradual
returns rather than any 'quick flip' plays, as investors on all sides of the
table use better market information than ever before."

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

Jeanne Peck, Executive Director

HFF closes $18.25 million sale of 315 Broadway in Tribeca, Manhattan

                                315 Broadway, Tribeca Neighborhood, Manhattan, NY

Rob Rizzi
NEW YORK, NY – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of 315 Broadway, an 18,089-square-foot, mixed-use, loft-style office building with ground floor retail space in the Tribeca neighborhood of Manhattan.

HFF marketed the property on behalf of the seller, a long-term private real estate partnership.  The Laboz family of United American Land purchased the asset for $18.25 million free and clear of existing debt. 

315 Broadway is located on Broadway between Thomas and Duane Streets directly across from the Jacob K. Javits Federal Building in Tribeca.  Built in 1861 as a store and loft building, the five-story building features approximately 3,900 square feet of ground floor retail and 14,186 square feet of office.

 The retail benefits from the highly-trafficked Broadway corridor, which has become a tourist destination for those traveling from the Financial District to Soho.  

The remaining portions of the building contain 13-plus foot ceilings, original cast-iron columns, oversized windows and exposed brick walls.  315 Broadway is within close proximity to the Chambers Street, Park Place and City Hall subway stations.

Eric Anton
The HFF investment sales team representing the seller was led by senior managing director Eric Anton, managing director Rob Rizzi, and associate directors Steven Rutman and David Fowler.

“We are extremely honored to have completed this successful transaction for our clients whom decided to sell into the strongest market Lower Manhattan has ever seen,” said Anton.

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

HFF closes sale of Dallas-Fort Worth-area power center

Robertson's Creek Power Center, Flower Mound, TX
DALLAS, TX -- Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Robertson’s Creek, a 336,402-square-foot core power center in the Dallas-Fort Worth suburb of Flower Mound, Texas.

HFF arranged the sale of the property on behalf of the seller, a partnership between TFG Crown Partners, L.P. and Ball Ventures, LLC.  Dunhill Partners purchased the asset for an undisclosed amount. 

Completed in 2007, the 97-percent-leased Robertson’s Creek is home to anchors Belk, Hobby Lobby, Dick’s Sporting Goods, Old Navy and ULTA Beauty.  The center’s in-line shop and outparcel pad tenants include Kirkland’s, Lane Bryant, UFC Gym, Pure Barre, Which Wich?, Red Robin, Verizon Wireless and Five Below.  JCPenney shadow anchors the center.

Doug Hazelbaker
 Situated on 39.05 acres at 5801-5861 Long Prairie Road, Robertson’s Creek is in the epicenter of Flower Mound, a rapidly-growing Dallas-Fort Worth suburb that was ranked No. 2 on CNN Money Magazine’s 2014 list of “Top Earnings Towns.”  

The affluent community is less than 30 miles northwest of downtown Dallas and less than 33 miles northeast of downtown Fort Worth.

The HFF investment sales team representing the seller was led by senior managing director Doug Hazelbaker and managing director Ryan Shore.

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

Waterton Acquires 392-Unit Regatta at Lake Lynn in Raleigh, NC

Matthew Masinter
 CHICAGO, IL  – Waterton, a U.S. real estate investor and operator, today announced it has purchased Regatta at Lake Lynn, a 392-unit garden-style rental community in Raleigh, North Carolina.

Located at the southeast corner of Lake Lynn – about 10 miles northwest of downtown Raleigh – the property includes a mix of one- and two-bedroom apartments, each with 9-foot ceilings, a patio or balcony, wood-burning fireplace, and full-size washer and dryer units. 

Community amenities include two outdoor pools, a 24-hour fitness center, newly constructed playground and on-site dog park.

 “With Regatta at Lake Lynn, we saw an opportunity to acquire a vibrant community in a highly desirable location with favorable supply and demand drivers,” said Matthew Masinter, senior vice president of acquisitions at Waterton. “The relative affordability of renting has made apartments the housing option of choice in many cities, and Raleigh is no exception.”

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

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

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

Lincoln Harris to Lease and Manage 26,000-Square-Foot Data Center in Charlotte, NC

Campbell Walker
 CHARLOTTE, NC— Velocis has selected Lincoln Harris to lease and manage a 26,000-square-foot data center, located at 701 East Trade St. in Charlotte. Campbell Walker of Lincoln Harris will oversee leasing and management at the building.

“This building is one of the city’s prime fiber optic hubs, featuring access to Carrier Ethernet Neutral Exchange, diverse fiber entrances and connectivity to multiple national metro and longhaul fiber networks,” Walker said. “Its reliability and security, combined with its downtown location, makes this building incredibly appealing.”

Current tenants include Level 3, XO Communications, Zayo, DukeNet, tw Telecom, Time Warner Cable, Verizon/MCI, BTIDeltacom, Springboard Telecom, Windstream, and CenturyLink.
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)

Real Estate Finance and Housing Industry Join Together and Donate Over $735,000 to Families in Need

Debra W. Still
WASHINGTON, DC  – Mortgage Bankers Association Opens Doors Foundation (MBA Opens Doors) today announced that it has secured more than $735,000 in pledged donations at, or associated with, MBA’s 2015 Annual Convention.

“Opens Doors is thrilled at the incredible outpouring of support from so many different corners of the real estate finance and housing industry,” said Debra W. Still, CMB, Chairman of the MBA Opens Doors Foundation and President and CEO of Pulte Mortgage.

“Eight of the nation’s largest homebuilders, along with large depository institutions, community banks, independent mortgage bankers, residential firms, commercial/multifamily firms, and many more companies and individuals all made generous contributions to our efforts.”

“Because of our success at MBA’s 2015 Annual Convention, Opens Doors will begin its new fiscal year with an opportunity to help many more families in need.  When we join together, we send a very strong message that all members of the real estate finance community are committed to sustainable housing and giving back,” Still continued.

Eight of the nation’s largest homebuilders and their in-house lending companies contributed a total of $170,000. These include PulteGroup and Pulte Financial Services, CalAtlantic Homes and CalAtlantic Financial Services, K. Hovnanian Homes and K. Hovnanian American Mortgage, LLC, Lennar Homes and Universal American Mortgage Company (UAMC), Taylor Morrison and Taylor Morrison Home Funding, Meritage Homes and MTH Mortgage, D.R. Horton, Inc. and DHI Mortgage Company, and Richmond American and HomeAmerican Mortgage.

Companies represented on MBA’s Board of Directors contributed a total of $380,000. These include CMG Foundation, Bank of America, Cornerstone HomeLending, Inc., CoreLogic, Inc., FNF:  Fidelity National Financial/Black Knight Financial Services/ServiceLink, First American Title Insurance Company, M&T Bank, Quicken Loans, Inc., Radian Guaranty Inc., SunTrust Mortgage, Inc., U.S. Bank Home Mortgage, Wells Fargo Home Mortgage, CBRE Capital Markets, Colonial Savings, EverBank, McLean Mortgage Corporation, Alliance Home Loans, HomeStreet Bank, VantageScore Solutions, LLC.

Sheryl Crow
Additional members of the real estate finance community including SWBC Mortgage Corporation, Guild Mortgage Company, Pingora Asset Management LLC, Wallick & Volk, Genworth, MGIC - Mortgage Guaranty Insurance Corporation contributed a total of $140,000.

Individual and corporate attendees of MBA’s Annual Convention and Expo contributed over $45,000 by making donations and pledges at the Foundation’s donor reception and the Tuesday morning general session, bidding in an online auction, purchasing extra tickets for special convention events, and bidding on a guitar signed by musician Sheryl Crow, who performed for convention attendees.

Opens Doors is currently able to pass 100 percent of the donations it receives on to families in need of assistance. The Foundation's ongoing relationship with Washington, D.C.'s Children's National Medical Center and more recently Children's Hospital Colorado, provides partner organizations to help identify potential grant recipients.

Opens Doors is a 501(c)(3) organization and all contributions are tax deductible.  For more information about the Foundation or to make a donation, please go to www.mbaopensdoors.org.

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

Ali Ahmad
(202) 557-2727

Meridian Capital Group Arranges $35 Million in Acquisition Financing for Meadowbrook North Office Park in Hoover, AL

Meadowbrook North Office Park, Hoover, AL

Tal Bar-Or
New York, NY, Nov. 3, 2015– Meridian Capital Group, America’s most active debt broker, negotiated $35 million in acquisition financing for the purchase of the Meadowbrook North Office Park located in Hoover, AL on behalf of The Matrix Group.

The two-year loan, provided by Rialto Mortgage Finance, LLC, features a LIBOR-based floating-rate, interest-only payments for the full term and a one-year extension option.

This transaction was negotiated by Meridian Managing Director, Tal Bar-Or, Vice President, Judah Neuman, and Associate, Kyle Kite, who are all based in the Company’s New York City headquarters.

Meadowbrook North Office Park, located at 100, 300, 500 and 1200 Corporate Drive on U.S. Highway 280, is composed of four Class A office buildings totaling 509,000 square feet.

Judah E. Neuman
The property was built by developer Daniel Corporation and sits within the 175-acre master planned campus in Birmingham’s most distinguished office setting. Property amenities include a 13-acre lake, lush landscaping, a 1.3-mile walking trail, three daycare facilities and a U.S. Post Office.

This office submarket contains Birmingham’s highest concentration of Class A office stock, with 4.7 million square feet of space. In addition to being well-located, the business park is in the strong demographic region of Shelby County, one of the state’s wealthiest and fastest-growing counties.

“This was an exciting transaction from the outset; from being live on the phone during the purchase auction to ultimately seeing the deal through to closing, Meridian worked hand-in-hand with Matrix the whole way,” said Mr. Bar-Or.

 “This is yet another example of The Matrix Group’s ability to identify opportunities with deep relative value, strong insulation from downside and tremendous opportunity to add value. With Matrix’s capability of turning around underperforming assets, this deal is characterized by little risk of loss and a skewed opportunity to achieve a significant equity multiple,” he added.

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

Jonathan Stern
Meridian Capital Group