Tuesday, November 24, 2015

Edward R. James Companies Receives Two Gold Key Awards from Homebuilders Association of Greater Chicago

Jerry S. James
CHICAGO, IL  (Nov. 24, 2015) – Glenview, Illinois-based homebuilder and developer Edward R. James Companies announced it received two awards at the Homebuilders Association of Greater Chicago’s (HBAGC) Key Awards dinner on November 13.

The firm was awarded a Gold Key Award for Best Overall Community in the category of Community Design and Planning for Hibbard Gardens, a recently completed community in Northfield, as well as a Gold Key Award for Excellence in New Construction for its custom home at 1425 Glenview Road in Glenview.

“We are honored to receive these awards, and we thank the Homebuilders Association of Greater Chicago for this recognition,” said Jerry S. James, president of Edward R. James Companies. “We’ve taken tremendous pride in building in North Shore communities for the past six decades, and this recognition simply furthers our commitment.”

 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

HFF closes sale of Tysons Corner office building in Northern Virginia

Harrison Building, 1760 Old Meadow Road, Tysons Corner, VA

Jim Meisel
WASHINGTON, DC, Nov. 24, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of the Harrison Building, a five-story, 101,440-square-foot, Class A office building located in Northern Virginia’s Tysons Corner submarket. 

HFF marketed the property on behalf of the seller, TIAA-CREF.  Harrison Metro LLC, an investment affiliate of Cambridge Holdings LLC, a Virginia-based full-service operating company, purchased the asset for an undisclosed amount. 

The Harrison Building is located at 1760 Old Meadow Road in Tysons Corner, which is Virginia’s largest employment center. 

Completed in 1999, the property is now less than a 10 minute walk from the Silver Line’s McLean Metrorail station and has excellent vehicular access to Dolley Madison Boulevard, the Capital Beltway and the future Jones Branch bypass, which will provide ready access to Interstate 495’s express lanes.  

Its location in Tysons Corner is also proximate to abundant retail at Tysons Corner Center and Tysons Galleria.

The HFF investment sales team representing the seller was led by Jim Meisel, Dek Potts, Andrew Weir, Stephen Conley and Matt Nicholson.

 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

Multi Housing Advisors Brokers $13.8 Million Sale of Apartment Community in Macon, GA


Forest Pointe Apartments, Macon, GA

Robert Stickel
ATLANTA, GA (Nov. 24, 2015) — Multi Housing Advisors (MHA) has arranged the $13.8 million sale of Forest Pointe, a 200-unit apartment community located in Macon, Georgia.

Robert Stickel, who leads MHA’s central to coastal Georgia deal team, represented the seller, QR Capital, in the transaction. LMS Real Estate Investment Management purchased the property.

“Forest Pointe is an exceptionally located asset providing residents convenient access to major job centers and quality retail, while also offering a private residential setting,” Stickel said. 

“With recent upgrades to the exteriors and amenities, Forest Pointe provides the opportunity to focus new capital on interior upgrades, resulting in increases in both rental rates and investment returns.”

Forest Pointe is a cash flowing asset with recent capital improvements, including new exterior paint, new stacked stone grill and fireplace area by the pool, and dark stained cabinets.

The property is located in the premier North Macon submarket with true “country club” demographics and an average household income of over $74,000 within a one-mile radius of Forest Pointe.

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

Deborah Rogers
Multi Housing Advisors

American Realty Advisors Sells Office Center in South Florida

Yamato Office Center, Fort Lauderdale, FL

Boca Raton, FL, Nov. 24, 2015 – American Realty Advisors announced the sale of the Yamato Office Center, a 170,930 square-foot office property in the South Florida metro area. 

David Hubbs
According to David Hubbs, Senior Portfolio Manager at American, the disposition has been timed to take advantage of strong investor interest in the region.

“The property’s great location and tenant profile, along with the growing strength of the office market in the region, made this an opportune time to sell the property,” says Hubbs.

Constructed in 1986 and 2000, Yamato Office Center is located less than one mile west of the I- 95/Yamato Road interchange, and less than 30 miles from both Fort Lauderdale and Palm Beach International Airports. 

The property is comprised of two office buildings totaling 170,930 square feet, with a tenant mix that includes Promise Healthcare, MoreDirect, and Homes Media E-Neighborhoods.

The buyer, Adler Kawa (AKREA) is a Florida-based real estate investment firm that was represented by Charles J. Foschini, Vice Chairman, and Christopher A. Apone, First Vice President, in CBRE’s Miami office.  American was represented by Christian Lee, Vice Chairman of CBRE Miami.

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

Lexi Astfalk / Jenn Quader
Brower, Miller & Cole
(949) 955-7940

HFF closes $8.9 million sale of and arranges $5.6 million financing for 45-unit multi-housing community in suburban San Diego, CA

The Ridge on Jackson Apartments, 5639 Jackson Drive, La Mesa, CA
                                                                                                                     (photographer: Charles Jaworski).

Hunter Combs
SAN DIEGO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged financing for The Ridge on Jackson, a 45-unit, garden-style multi-housing community in the San Diego suburb of La Mesa, California.

HFF marketed the property exclusively on behalf of Curtis Capital Group.  Stricker Family Partnership purchased the asset for $8.9 million free and clear of existing debt.  Additionally,

HFF worked on behalf of the new owner to place the $5.6 million, seven-year, fixed-rate acquisition loan with Chase Commercial Term Lending (“Chase”).

Located at 5639 Jackson Drive, The Ridge on Jackson is approximately 13 miles east of downtown San Diego and provides convenient access to Interstates 8 and 15 and State Routes 94, 125 and 163. 

Situated on 1.5 acres, the 98-percent-leased property was partially renovated in 2014 and has six buildings housing studio, one- and two-bedroom units averaging 660 square feet each.  

The community is walking distance to Lake Murray and nearby shopping/dining attractions and has amenities including a swimming pool, two sundecks with barbecue grills and covered parking.

Zach Koucos
The HFF investment sales team was led by director Hunter Combs.

HFF’s debt placement team was led by director Zach Koucos.  Client manager Scott Schweer oversaw the transaction for Chase.

“The Ridge on Jackson presented the unique opportunity to continue a proven value-add renovation program and realize significant rent premiums.  There was a very competitive bidding process with a deep buyer pool seeking Southern California value-add opportunities in a low-vacancy market,” said Combs.

  “Strong economic drivers in East San Diego County have created a tremendous demand for housing in La Mesa.”

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 closes sale of Metropolitan at Lorton Station in Lorton, VA

Metropolitan at Lorton Station Apartments, 9030 Lorton Station Boulevard, Lorton, VA
                                                                                                                                     (Waring Photography).

Walter Coker
WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Metropolitan at Lorton Station, a 251-unit, Class A apartment community in Lorton, Virginia.

HFF marketed the asset exclusively for Cornerstone Real Estate Advisers, acting on behalf of an institutional investor.

Metropolitan at Lorton Station is located at 9030 Lorton Station Boulevard directly adjacent to Lorton Station Town Center and the Lorton Virginia Railway Express station, which provides direct access to Washington, D.C.’s Union Station.

 The property is approximately five miles from the Fort Belvoir army base and is near Interstate 95 and Highway 1.  

Originally developed as condominiums in 2007, the community has 251 one- and two-bedroom rental units averaging 962 square feet each with features including stainless steel appliances, granite countertops, hardwood floors, soaking tubs, walk-in closets and full-size, in-unit washers and dryers. 

Additional amenities include an outdoor swimming pool, sports club, resident lounge, coffee bar, billiards room, business center and conference space.

The HFF investment sales team was led by Walter Coker and Brian Crivella.

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