Thursday, November 26, 2015

HFF closes $6.7 million sale of and arranges acquisition financing for an office property in Charlotte’s University area

One University Place, Charlotte, NC

Ryan Clutter

CHARLOTTE, NC  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged financing for One University Place, a four-story, 80,891-square-foot office property within the University Place mixed-use development in Charlotte, North Carolina. 

HFF marketed the property on behalf of the seller, Financial Enterprises III.  Origin Capital Partners purchased the asset for $6.725 million free and clear of debt.  Additionally, HFF assisted the new owner in securing an acquisition loan through First Tennessee Bank. 

One University Place is situated at 8801 JM Keynes Drive within the University Place mixed-use development in northeast Charlotte.  This location, between Interstates 77 and 85, is only 1.5 miles from the Interstate 85 corridor, a notable stretch of the interstate that extends from Richmond to Atlanta.

 In addition, the property is connected to the Shoppes at University Place, which offers a variety of retail, restaurant, medical and lodging amenities including a Hilton hotel, Dick’s Sporting Goods, Office Depot, Sam’s Club, TJ Maxx, Applebee’s, Chick-fil-A and Love Sushi.  The Carolinas Medical Center and the University of North Carolina at Charlotte are also a short distance from the property. 

Travis Anderson
Originally built in 1986, One University Place is 66 percent leased to a mix of health care, technology, consulting and business services tenants.  The largest tenants at the property are: Bayada Home Health Care and University Radio.

The HFF investment sales team representing the seller was led by senior managing director Ryan Clutter.

HFF’s debt placement team representing the borrower was led by senior managing director Travis Anderson and associate director Cory Fowler.

“One University Place represents a compelling investment opportunity in a thriving corner of the University area of Charlotte.  This office submarket is the tightest it has been in many years and in 2017, the light rail line extension will open up in immediate proximity to this building, further connecting the asset to other major business corridors of Charlotte,” said Clutter. 

“We received considerable interest in the asset from the marketplace as investors were drawn to these attractive characteristics of One University Place.”
“We are experiencing very strong investor demand for Charlotte office buildings as the city’s economy continues to be exceptionally strong and Charlotte’s office submarkets tighten with less space available.  Rent growth is now occurring in most areas of the city, drawing more and more capital to Charlotte offerings.  We anticipate this trend to continue in 2016 with an active selling environment,” added Clutter.

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 |

NAI Realvest Negotiates Sale of Medical Office Building off North Orange Avenue near Florida Hospital in Orlando, FL

Tom R. Kelley II
 ORLANDO, FL – NAI Realvest recently negotiated the $575,000 sale of a medical office building located at 621 Wilkinson St. off N. Orange Avenue in the Florida Hospital area. 

Tom R. Kelley, II, CCIM, principal at NAI Realvest and associate Chris Adams negotiated the sale representing the seller, The Jack P. Facundus Revocable Trust. 

The building, with 3,647 useable square feet, was purchased by Physmedi, LLC, a practice specializing in physical medicine and rehabilitation.  Physmedi, who is expanding, was represented by Casablanca Commercial Real Estate.

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 $35,775 per unit price in sale of 116-unit Villa Glen Apartments in Bessemer, AL

Joshua Jacobs
Birmingham, AL --- Berkadia, one of the nation’s largest and most active multi-family investment sales companies, recently negotiated the sale of the 116-unit Villa Glen Apartments for $4,150,000, or $35,775 per unit.

Joshua Jacobs, investment sales advisor at Berkadia’s Birmingham office, along with David Oakley, partner in the firm, negotiated the transaction representing the local seller Villa Glen, LLC.

The Adcock Group, based in Hattiesburg, Mississippi, acquired the property, which is located at 900 N. Division St. in Bessemer, 18 miles southwest of Birmingham. 

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.

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

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