Tuesday, November 10, 2015

RS Select International Team headed by Roger Soderstrom and Omar Abdul-Hafiz at Premier Sotheby's International Realty working with Middle Eastern investors on Major Central Florida Projects

Omar Abdul-Hafiz
ORLANDO, FL -- Longtime real estate developer and global marketing strategist Roger Soderstrom, and international marketing specialist sales associate Omar Abdul-Hafiz of Premier Sotheby's International Realty are heading a team at Premier Sotheby's International Realty for marketing a major Orlando mixed-use project to foreign investors in the Middle East.

Soderstrom said Abdul-Hafiz, with close ties to the Middle East, is fluent in Arabic and has been working with qualified investors there who would like to invest are investing from $500,000 to more than $1 million in U.S. real estate including EB-5 approved projects that offer an immigration visa program which affords investors resident status to travel and work throughout the U.S.

“Foreign investors want to buy vacation homes, multi-family communities, single-family homes and condominiums that are in high demand in the Orlando area.

"  They are looking to generate cash flow and capital gain so they can work toward more investments in the U.S. and in particular Orlando, the epicenter of hospitality that attracts 62 million tourists a year," Abdul-Hafiz explained.

Premier Sotheby's International Realty is exclusively marketing 29 Palms at City Center - 301 one, two and three-bedroom condominium residences - that are part of City Center West Orlando,  an approved EB-5 Florida Real Estate Regional Center. "This is the first major project that has been garnering interest among the team's Middle Eastern investors," Soderstrom said.

Roger Soderstrom

Central Florida is already home to 130 international companies and is strong in its ability to attract corporate headquarters according to the Orlando EDC.  "This area is becoming the Middle Eastern investor's prime investment target especially with Emirates Airlines starting daily service to Orlando," Hafiz added.

U.S. immigration policy encourages foreign investments in U.S. projects that will create new jobs and improve local economies.

"The U.S. Citizenship and Immigration Service (UCSIS) allows up to 10,000 EB-5 visas per year, and our local marketing expertise can identify top choice Orlando area investment opportunities with promising returns like 29 Palms at City Center," Abdul-Hafiz said

Soderstrom has marketed and sold large luxury residential projects, development sites and large office buildings, and worked with local and national residential and commercial developers on multiple projects throughout Central Florida for over 30 years.

Abdul-Hafiz, an entrepreneur who holds a degree in political science and international relations from UCF, founded a profitable real estate firm that buys, rehabs and resells residential and commercial properties.

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

Beth Payan or Larry Vershel, Larry Vershel Communications Inc. 407-644-4142 or 407-461-3781 Lvershelco@aol.com

Mortgage Banker Association Reports Third Quarter Commercial/Multifamily Mortgage Originations Up 12% Year-over-Year

Jamie Woodwell
WASHINGTON, DC (Nov. 10, 2015)- According to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations, third quarter 2015 commercial and multifamily mortgage loan originations were 12 percent higher than during the same period last year and three percent higher than the second quarter of 2015.

“Commercial mortgage borrowing and lending continued to grow during the third quarter,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research.  “Every major investor group and property type except one has seen increases in year-to-date lending volumes, and we expect year-end numbers to continue that trend.”

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

Ali Ahmad
(202) 557-2727

Chatham Lodging Announces Monthly Dividend


PALM BEACH, FL, Nov. 10, 2015—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale extended-stay hotels and premium branded select-service hotels, today announced that its board of trustees has declared a monthly common share dividend of $0.10 for November 2015. 

The common dividend is payable December 28, 2015, to shareholders of record on November 30, 2015.

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

Patrick Daly
Office Manager
Daly Gray, Inc.
Office:  (703) 435-6293

Cell:  (703) 300-8289

Sam L. Susser Appointed To Board Of Directors Of National Retail Properties, Inc.

Sam L. Susser   Photography by Justin Clemons
                                                  ORLANDO, FL,  Nov. 10, 2015 /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced that Sam L. Susser was appointed to the Board of Directors.

"We are excited to add Sam to our Board. His retail industry experience combined with his depth of knowledge of the convenience store industry make him an excellent addition,”  said Craig Macnab, Chairman and Chief Executive Officer.

“His accomplished tenure as the CEO of a successful retailer gives him a unique perspective to understand our retail tenant customer base and their strategies."

Mr. Susser has a broad background in retail operations.  He served as President and Chief Executive Officer of Susser Holdings Corporation (NYSE: SUSS) from 1992 through 2014 and as a Director from 1988 through 2014.  He was named Chairman of the Board in September 2013.

Craig Macnab
 In August 2014, Susser Holdings was acquired by Energy Transfer Partners, L.P. (NYSE: ETP).  

Mr. Susser was also Chairman of the Board of Directors of Susser Petroleum Partners GP LLC, the general partner of Susser Petroleum Partners LP (NYSE: SUSP, now Sunoco LP, NYSE: SUN) until May 2015. 

Mr. Susser currently serves as a Director of a number of charitable, educational and civic organizations.

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.  

As of September 30, 2015, the company owned 2,231 properties in 47 states with a gross leasable area of approximately 24.5 million square feet and a weighted average remaining lease term of 11.5 years.

 For more information on the company, visit www.nnnreit.com.

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

Campus Block townhome community near Florida State University in Tallahassee, FL sells for $2.7 million

Dorothy Jackman
Tallahassee, FL (Nov. 10, 2015) – Colliers International Student Housing Group has facilitated the sale of Campus Block, a student townhome community near Florida State University.

 The 40-bed, 10-unit rental community, which sold for $2.78 million, or $69,500 per bed, has been 100 percent occupied since it was built in 2013.

The seller, Campus Block FSU, LLC, is a student housing developer, and the buyer is an undisclosed investment group based in Miami, Fla.

Sean Baird, Associate; Travis Prince, CCIM, Managing Director; and Dorothy Jackman, Managing Director; of Colliers International Student Housing Group, represented the seller.

Campus Block, located less than a half-mile from Florida State University, has 10 four-bedroom, three-story townhomes with private bedroom-bathroom suites and an additional half bath. All townhomes are over 2,000 square feet and come equipped with a full kitchen, in-unit laundry and 60-inch flat screen TV.

Sean Baird
“Campus Block offers the buyers the opportunity to continue to grow revenue at one of the best locations in the Tallahassee market,” said Colliers’ Baird. “The location and quality are excellent – the community is walkable to the FSU campus and Doak Campbell Stadium, and very close to grocery stores and several restaurants.”

In each townhome, the second-floor common area is furnished, and there is also a private front balcony and rear porch, two-car garage and driveway, and an alarm system.

Campus Block is located at 1775 Belle Vue Way in Tallahassee.

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

Leah Saunders
B2 Communications
Office: (727) 895-2030, ext. 104
Cell: (813) 924-0367

HFF secures financing for The Brownstones at Englewood South in Englewood, NJ

The Brownstones at Englewood South Apartments, 73 Brownstone Way,  Englewood, NJ
                                                                                                                  (photographer: Christian Garibaldi).

FLORHAM PARK, NJ  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured acquisition financing for The Brownstones at Englewood South, a 350-unit, Class A multi-housing community in Englewood, New Jersey.

Working on behalf of the borrower, HFF placed the seven-year, fixed-rate acquisition loan with Guardian Life Insurance Company of America.

Thomas Didio
The Brownstones at Englewood South is located just off of Route 4 in Englewood at 73 Brownstone Way.  

Situated on approximately 9.2 acres, the property has five buildings encompassing a mix of studio, one- and two-bedroom loft- and townhome-style units, as well as 12,521 square feet of street level retail. 

Units average 1,046 square feet each and have luxury finishes, including granite countertops, stainless appliances, in-unit washers/dryers, oversized breakfast bars, surround sound and balconies/terraces. 

The community features an outdoor heated swimming pool, hot tub, state-of-the-art fitness center, outdoor dining patio with fireplace, recreation room, business center, dog park and an expansive courtyard.  The property is 97 percent leased.

The HFF debt placement team representing the borrower was led by senior managing director Thomas Didio.

“Guardian did a great job meeting the borrower’s structuring needs and we are pleased we could work with the borrower and Guardian to successfully complete this transaction,” stated Didio

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 $5.75 million refinancing for Hilton Garden Inn near Boise, ID

Hilton Garden Inn Boise/Eagle, Eagle, Idaho

Tim Wright
SAN DIEGO, CA, Nov. 10, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $5.75 million in senior lien financing for the Hilton Garden Inn Boise/Eagle, a 98-room, lodge-style Hilton-branded hotel on the banks of the Boise River in Eagle, Idaho.

HFF worked on behalf of the borrower, a partnership of Johnson Brothers Hospitality and Grossman Company Properties, to secure a 10-year, fixed-rate loan through a life insurance company.  Proceeds are being used to refinance the property.

Developed by the borrower in 2003, the Hilton Garden Inn Boise/Eagle features river views, Garden Grille Restaurant, 24-hour Pavilion Pantry, a fitness center, indoor pool, whirlpool, business center and 3,000 square feet of meeting space with capacity for up to 150 people. 

The full-service Bardenay Restaurant & Distillery, which provides in-room dining to hotel guests, is adjacent to the hotel. 

 The three-story hotel recently won a 2015 TripAdvisor Certificate of Excellence Award for outstanding reviews on the TripAdvisor website, the world’s largest travel site.

Scott Hall
 Situated at 145 East Riverside Drive, the hotel is within the 90-acre Eagle River Development, which has office, retail, medical and hospitality facilities in addition to walking paths, water features and a municipal park.  

The hotel is in the northwestern Boise suburb of Eagle, which is 12 miles from downtown Boise.

The HFF debt placement team representing the borrower was led by senior managing director Tim Wright and managing director Scott Hall.

According to HFF, the success of the financing speaks to the quality location, the high-caliber product and the established reputation of the brand.

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

HFF Associate Director, Marketing
(617) 338-0990

HFF arranges $177 million financing for Lloyd Center Mall in Portland’s Lloyd District

Lloyd Center Mall Rendering by Waterleaf, Lloyd District, Portland, OR

DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a financing commitment of $177 million for Lloyd Center, a 1.27 million-square-foot regional shopping center with office space in Portland’s Lloyd District.

Lloyd Center Mall Rendering by Waterleaf
HFF worked on behalf of the sponsor, Cypress Acquisition Partners Retail Fund, an affiliate of Cypress Equities, to secure the floating-rate loan through an affiliate of KKR Real Estate Finance Trust Inc.  

Loan proceeds will be used to finish executing a capital improvement plan and facilitate new leasing.

Lloyd Center was originally constructed in 1960 and underwent renovations in 1991 and 2006 prior to the current renovations, which began in 2014.  With more than 130 tenants, the property is home to Macy’s, H&M, Marshalls, Barnes & Noble, PacifiCorp, Forever 21 and a variety of office tenants. 

Working with local Portland firm Waterleaf Architecture, Interiors and Planning, improvement plans include converting space previously occupied by retail tenants into creative office space, enhancing connectivity to nearby office and multi-housing developments, reconfiguring the ice rink and updating the food court, flooring, entrances and storefronts.

Cullen Alderhold
 Additionally, improvements to the lighting and mechanical systems will make the property more energy efficient.  Lloyd Center is located in the mixed-use area known as the Lloyd District, a live-work-play neighborhood northeast of central Portland. 

The center is adjacent to Interstate 84, the region’s main east-west transportation route, and close to Interstate 5, Portland’s main north-south transportation corridor.  TriMet’s MAX light rail and other public transportation systems provide direct access to the property.

The HFF team representing the borrower was led by director Cullen Aderhold, senior managing director Trey Morsbach and managing director Tom Wilson.  

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

HFF Associate Director, Marketing
(617) 338-0990

HFF closes sale of BBVA Compass Plaza in Houston’s Galleria area

BBVA Compass Plaza, Galleria area, Houston, TX

Scott Galloway
HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of BBVA Compass Plaza, a Class AA, best-in-class office building totaling 326,200 square feet in Houston, Texas.  BBVA Compass Plaza is the first office building to be delivered to the Galleria area in nearly three decades.

HFF marketed the asset on behalf of the seller, a joint venture partnership between Stream Realty Partners, L.P., TRC Capital Partners (formerly The Redstone Companies) and an institutional client of L&B Realty Advisors, LLP.  Masaveu Post Oak Houston Delaware LLC purchased BBVA Compass Plaza for an undisclosed amount.

Completed in 2013, BBVA Compass Plaza is a LEED Gold Certified, 22-story, podium-style building that is 83 percent leased.

BBVA Compass Bank occupies 58 percent of the net rentable area, and the remaining tenants are a mix of national and international firms that are drawn to the property’s walkability in the Galleria area of Houston and its 24/7 environment.

Dan Miller
The recently completed property features a 1,144-space parking garage, a full retail bank branch, fitness center and two upscale restaurants; Caracol, which has been named the “#1 Place to Eat Now” by Texas Monthly, and Oka Sushi, which is the fusion brainchild of restaurateur Tony Sha.

WalkScore.com rates the area as an 82 for walkability with access to more than 55 restaurants and numerous mixed-use developments including Uptown Park and the Galleria Mall.

BBVA Compass Plaza is situated in Houston’s Galleria submarket with immediate access to Loop 610, Interstate 10, Highway 59 and Westpark Tollway, linking all of greater Houston.

 It is also within a 15 minute drive of Houston’s most prestigious residential neighborhoods including River Oaks, Tanglewood and The Villages.

“The sale of BBVA Compass Plaza reflects the continued interest of foreign capital in Class A product in superb locations in Houston such as the Uptown/Galleria submarket,” said Steve Lerner, CEO of TRC Capital Partners.  

Preston Young, regional managing partner at Stream added, “This transaction is yet another shining example of the desirability amongst our industry’s most prominent investors to have a presence in Houston.”

The HFF investment sales team was led by executive managing director Scott Galloway, senior managing directors Dan Miller and Matt Kafka, managing director Colby Mueck and director Trent Agnew.

“With its groundbreaking, BBVA Compass Plaza ignited a development renaissance in Houston’s most coveted submarket that is on-going and encompasses more than 6,050 luxury multi-housing units, more than two million square feet of office space, in excess of 697,000 square feet of high-street retail and two new luxury hotels,” added Miller.

“The transformative impact that this property has had on the Galleria skyline cannot be overstated, placing it at the forefront of the ‘urbanization’ movement in the Houston marketplace.”

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

HFF Associate Director, Marketing
(617) 338-0990


HFF secures $35.65 million financing for downtown Dallas, TX hotel redevelopment

Travis Anderson
DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $35.65 million in financing to redevelop a vacant office building into a dual-branded AC Hotel and Residence Inn hotel with 206 rooms in downtown Dallas, Texas. 

HFF worked on behalf of the borrower, NewcrestImage, to secure the financing through Fifth Third Bank. 

The borrower is taking the 22-story Mercantile Commerce Building, which has been vacant since the 1980s, and redeveloping it into a select-service hotel that encompasses two Marriot brands:

 AC Hotels, which are modern hotels with Spanish roots and European design, and Residence Inn, an extended-stay all-suite hotel.  The hotel will feature a fitness center, lobby lounge and bar, business center and meeting space with two boardrooms that can fit up to 14 people each. 

The hotel will also have a 360-space parking garage.  Located at 1712 Commerce Street, the new hotel will be located south of the Main Street District in downtown Dallas and less than one block from the Main Street Garden Park. 

According to HFF, the hotel will be in one of the largest employment centers in north Texas with more than 35.3 million square feet of office space. 

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

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 secures acquisition financing for 5-property Atlanta area office portfolio

Jim Curtin
DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured acquisition financing for a five-property office portfolio totaling 642,583 square feet in Atlanta, Marietta and Macon, Georgia.

Working on behalf of the borrower, CapRidge Partners, LLC, HFF placed the three-year, floating-rate loan with Bank of America Merrill Lynch.  The loan was structured with an initial funding of $30.17 million.

The portfolio consists of 3920 Arkwright Road (Highridge Center) in Macon; 9040 Roswell Road (River Ridge), 1765 The Exchange and 1775 The Exchange in Atlanta; and 1775 West Oak in Marietta.  

Overall, the portfolio is 81.1 percent leased to tenants including Carestream Dental, MiMedx Group, Merrill Lynch, Xerox and Polycom, Inc.  

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

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 arranges $96.4 million financing for biotech conversion project in San Diego, CA

SAN DIEGO, CA  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $96.4 million in financing to convert Genesis at Campus Point, a vacant four-building office complex, into a state-of-the-art laboratory campus in the UTC submarket of San Diego, California.  

Working on behalf of the borrower, a partnership between Phase 3 Real Estate Partners and its institutional partner, HFF placed the 36-month, floating-rate loan with TPG Real Estate Finance Trust.  Proceeds will be used to recapitalize the mid-year acquisition and fund immediate repositioning costs of the asset.

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

MHA Brokers Sales of Four Multifamily Properties in Montgomery, AL for a Total of $26.9 Million


BIRMINGHAM, AL  (Nov. 9, 2015) — Multi Housing Advisors (MHA) has arranged, in separate transactions, the sales of four apartment communities for a total of $26.9 million. Jimmy Adams and Craig Hey of MHA’s Birmingham office represented the sellers in the transactions.

“The buyers for these assets are headquartered in New York, Florida, and Nashville, highlighting the attention Montgomery is receiving from regional and national investors for its stable economy and solid multifamily fundamentals,” Adams said.

Festival Apartments
Details of the deals are below:

·        Nashville-based Legacy Partners purchased Festival from a private seller for $11.4 million. The 184-unit property was built in 1996 and is located in close proximity to Montgomery’s best retail destinations.

·        New York-based Trade Winds Real Estate, LLC purchased The Meadows from Varden Capital Properties (VCP) for $8.7 million. The 194-unit property is located in the highly desirable East Montgomery submarket.

·        Florida-based Elevation Financial Group, LLC purchased Cyprus Court and Olympia Heights from a private seller for $6.8 million. The two properties, collectively 378 units, sit adjacent to one another and are located in the South Montgomery submarket. There is a proven renter pool for well-maintained Class C+ and B rental housing in the area.

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

Deborah Rogers
Multi Housing Advisors