Saturday, January 30, 2016

Chatham Lodging Trust Announces 2015 Distribution Characterization

  
 
Jeffrey H. Fisher
WEST PALM BEACH, FL --Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale extended-stay hotels and premium-branded, select-service hotels, announced the characterization of dividends declared in 2015 on its common shares for federal income tax reporting purposes.

Chatham Lodging Announces Fourth Quarter Earnings Call to be Held on Wednesday, February 24, 2016

WEST PALM BEACH, FL —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, announced that it will report fourth quarter 2015 financial results on Wednesday, February 24, 2016, before the opening of the market. 

That same day at 11:00 a.m. ET, Jeffrey H. Fisher, Chatham’s chief executive officer, Dennis M. Craven, executive vice president and chief operating officer, and Jeremy Wegner, senior vice president and chief financial officer, will host a conference call to review fourth quarter 2015 financial results.

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

Marcus & Millichap Arranges $1.4 million Sale of 10-United Santa Marta Apartments in Miami, FL


Santa Marta Apartments, 1621 SW Third Street, Miami, FL

Evan P. Kristol
MIAMI, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Santa Marta Apartments, a 10-unit apartment property located in Miami, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $1,400,000 equating to $140,000 per unit.

Evan P. Kristol, a senior vice president investments, Felipe J. Echarte, a vice president investments, and Alejandro J. Gonzalez, an associate, all in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a limited liability company from Miami, and the buyer, a private investor from Miami Beach.

“Our exclusive marketing campaign generated multiple offers and resulted in the highest price per unit sale of properties built between 2006 and 2009 in the area,” says Gonzalez.

Built in 2008 on a 0.17-acre lot, Santa Marta Apartments is comprised of six one-bedroom/one-bathroom units and four two-bedroom/one-and-a-half-bathroom units.

Santa Marta Apartments is located within the Little Havana submarket, with convenient access to The Dolphin Expressway, Interstate 95 and Southwest 8th Street.  The property is located at 1621 Southwest 3rd Street in Miami. 

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

Ryan Nee
Regional Manager
 Fort Lauderdale, FL

(954) 245-3400

HFF closes sale of Circa at FishHawk Ranch in Lithia, FL

 
Circa at FishHawk Ranch Apartments, Lithia, FL
                                                                                        (photographer: Chris Stevens, C2 Design Group).


Matt Mitchell
TAMPA, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Circa at FishHawk Ranch, a 260-unit, Class A garden-style multi-housing community located in Lithia, Florida.

HFF marketed the offering exclusively on behalf of the developer, a joint venture between North America Sekisui House, LLC (NASH) and Newland Communities.   Inland Real Estate Acquisitions, Inc. facilitated the purchase of Circa at FishHawk Ranch for an Inland-related party.

Circa at FishHawk Ranch is located at 5881 Spector Road within the 4,100-acre FishHawk Ranch master planned community, which is approximately 20 miles southeast of downtown Tampa.

 Positioned in the heart of the community’s Village Center – which is currently under development and once complete will feature retail, dining and medical office space – Circa at FishHawk Ranch is walkable to top-rated schools and the Florida headquarters of Mosaic (NYSE: MOS).  Completed in November 2015, the property has one-, two- and three-bedroom units averaging 1,045 square feet each.



Matthew Lawton


 The amenity-rich community features a resort-style swimming pool with sundeck and cabanas; outdoor pavilion and kitchen with bar, grills, screened-in party room with billiards, ping pong and shuffleboard; state-of-the-art fitness center with cardio/weight room, spin studio, yoga area and children’s playroom; clubroom with flat screen televisions; internet cafĂ© and social lounge with coffee station; conference room; pet spa facility; condo-quality interior finishes; and attached/detached garage parking.

The HFF investment sales team was led by managing director Matt Mitchell, executive managing director Matthew Lawton and associate director Zach Nolan.

“Suburbs like FishHawk Ranch have been particularly starved for new supply so properties like Circa are filling a void in the market for people who want to enjoy a high-quality, suburban lifestyle, but don’t need or want to own a 3,000-square-foot house,” said Mitchell.

 “In Tampa, these types of assets are attractive to investors because of strong fundamentals, job growth, an expanding population and a manageable supply pipeline.”

“Working with HFF made this complicated deal easier to purchase,” said Joe Cosenza, president of Inland Real Estate Acquisitions, Inc., and vice chairman of The Inland Real Estate Group, Inc. “This luxury apartment community met our criteria of being newly constructed, ideally located and well occupied, and we will continue to look for similar properties in the new year.”

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



WNC Closes $114.7 Million Institutional LIHTC Fund Covering 24 properties in 11 States


Christine Cormier


IRVINE, CA – WNC, a national investor in real estate and community development initiatives, announced it has closed WNC Institutional Tax Credit Fund 41, L.P. (WNC Corp. 41), a $114.7 million institutional low-income housing tax credit (LIHTC) fund.

Estimated to include 1,674 affordable housing units in total, WNC Corp. 41’s portfolio is comprised of 24 family and senior housing communities scheduled for new construction and rehabilitation.


The properties will be located in 11 states, including Arkansas, California, Louisiana, Minnesota, Missouri, Montana, New Mexico, Tennessee, Texas, Washington and Wisconsin.

“WNC Corp. 41 is comprised of approximately equal amounts of new construction and rehabilitation projects, helping to not only deliver additional units to those in need, but to also preserve existing units in our nation’s already limited supply,” said WNC Senior Vice President of Investor Relations, Christine Cormier.

 “In addition, this fund includes approximately 93 percent repeat development partners, which speaks volumes to the success of the LIHTC program over the course of three decades. We are thrilled to continue our partnerships that pursue the growth of the nation’s existing affordable housing supply, and look forward to partnering with new developers in our quest.”

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

Julie Leber
Spotlight Marketing Communications
949.427.5172, ext. 703 


Meriwether & Tharp and CorTrans Lease 20,251 Square Feet at Upgraded 6465 East Johns Crossing in Johns Creek, GA


 
Michael Howell
 ATLANTA, GA – Lincoln Property Company (Lincoln) and Glenfield Capital recently completed a long-term lease with the fast-growing law firm of  Meriwether & Tharp, LLC, consisting of 11,037 square feet at the recently renovated 6465 East Johns Crossing in Johns Creek, Georgia.

Michael Howell, Hunter Henritze and George Gwaltney of Lincoln represented the landlord in the transaction, and Joseph Grace and Andy Roberts of Cresa represented the tenant.

“East Johns Crossing is now widely considered the premier building in Johns Creek and offers access to incredible amenities including the adjacent Lifetime Fitness, a lakeside walking path with fitness stations and an outdoor patio overlooking a two-acre lake,” Henritze said. 

“With the recent improvements to the building, we believe 6465 East Johns Crossing will continue to attract top tenants in the coming year.”


Hunter Henritze

“The leasing success is attributed to a great leasing team coupled with the finest building in the Johns Creek submarket,” stated James Cate, managing principal of Glenfield Capital, the current owner. “The investment we made in the renovation turned out better than anticipated and the market is responding. ”

Additionally, CorTrans Logistics has committed to keeping its headquarters at 6465 East Johns Crossing, with a long-term extension for its 9,214-square-foot lease at the property. CorTrans Logistics’ senior management committed to the building after a long search.

6465 East Johns Crossing, is a 100,000-square-foot, Class A four-story office building. Glenfield Capital recently completed a significant renovation of the lobbies on the first and second floors, including upgraded accent lighting and installation of a new digital tenant directory, as well as a landscaping overhaul.

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

Savannah Durban
The Wilbert Group
404-343-0870


Multi Housing Advisors Brokers $18.2 Million Sale of Apartment Community in Savannah, GA








Robert Stickel
ATLANTA, GA — Multi Housing Advisors (MHA) has arranged the $18.2 million sale of Clover Village at Vernon Marsh and White Bluff. The two properties, built in 1986 and 1985, respectively, are comprised of 298 units and are located in Savannah, Georgia.

Robert Stickel, who leads MHA’s central to coastal Georgia deal team, represented the seller, Clover Group, Inc. McDowell Properties purchased the property.

“Vernon Marsh and White Bluff are well-located, infill assets in Savannah,” Stickel said. “High barriers to entry in this submarket are creating exceptional apartment fundamentals and an ideal environment for value-add opportunities, which increase the investment capital flowing to this quality area.”

Clover Village at Vernon Marsh and White Bluff are located along White Bluff Road at the intersection of Abercorn Street and Harry Truman Parkway, providing easy access to both Savannah’s Southside submarket and Downtown district.  

The properties feature large floorplans, many with marsh views, creating a unique living experience for residents and upside potential for future ownership.

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

Deborah Rogers
Multi Housing Advisors
404.645.7275

Hold-Thyssen Negotiates Long Term Lease with Expanding San Diego based Software Firm at Phillips Place in Southwest Orlando, FL


Darby Hold
ORLANDO, FL--- Hold-Thyssen, a real estate services firm headquartered in Winter Park, recently negotiated a four year four month lease for 2,091 square feet of professional office space at Phillips Place, 7575 Dr. Phillips Blvd. in Southwest Orlando. 

Darby Hold, transaction specialist for Hold-Thyssen, Inc. negotiated the transaction representing the landlord, Financial Way Realty, Inc. of Cincinnati. Colin Morrison with Colliers International represented the Tenant.

The Experience Engine, a computer software company based in San Diego and specializing in theme parks, universities and hotels is the new tenant.  The Experience Engine, with 20 years of creativity and technical innovation in the global technology industry, has expanded their expertise to the Orlando-Central Florida market.  

Hold-Thyssen, Inc. is the leasing and management representative for the 56,000 square foot Phillips Place Office Building, which is now 89 percent leased

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


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

Hold-Thyssen Negotiates Unique Transactions in New Port Richey, FL

  
Carol L. Kinnard
New Port Richey, FL --- Carol L. Kinnard, transaction specialist at Hold-Thyssen, a commercial real estate services firm with offices in Tampa, recently negotiated a long-term lease agreement for a build-to-suit medical office at Deer Park Center, 5140 Deer Park Drive in New Port Richey. 

Florida Hospital North Pinellas (Adventist Health Systems) and Innovative Healing Systems sought a presence in the Trinity market for wound care services and Kinnard represented the tenants in negotiations with the landlord, TB Deal, LLC, to build a 5,000 square foot free-standing professional office building at Deer Park Center.  

Kinnard also brokered the sale of a quarter-acre parcel of undeveloped land at the SE corner of SR 54 and Swan Drive for $40,000.   The original parcel was reduced in size due to arterial widening leaving it with difficult ingress/egress.  The Palm Harbor-based sellers, Lalit K. and Anubha Gupta, sold the property to Colonial Hills Civic Association, Inc. who will use it to enhance its entryway into the community. 

Hold-Thyssen, Inc. provides commercial property and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more than100 commercial properties throughout the United States.

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


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

Friday, January 29, 2016

GLT Group Brokerage Arrange $23 Million Sale of Iconic Four Points Sheraton Orlando Studio City


Four Points Sheraton Orlando Studio City Hotel,
5905 International Drive, Orlando, FL 32819
  
MIAMI BEACH, FL, Jan. 29, 2016 — The Four Points by Sheraton Orlando Studio City on International Drive was sold for $23M. GLT Group Brokerage represented the buyer; a Tampa-based private individual, and GLT Group also procured the seller; an out-of-state hotel group.

The hotel is a 21-story, 301 room full-service hotel located on the famous International Drive, directly across from Universal Studios. It has been flagged under Starwood's Four Points by Sheraton since 2007.  The buyer is planning a multi-million-dollar renovation and upgrades, bringing the hotel back to its glamour era.

International Drive, Orlando, FL
“The Orlando market has evolved since the downturn and has become exciting for many investors due to its reputation for local and foreign visitors”, says Sean Shahar A. Ziv, President of The GLT Group Brokerage. He added: “It was a quick closing, which indicated the strength of the buyer”. 

The purchase price represents approximately $76,400 per key. 

GLT Group Brokerage is the brokerage arm of The GLT Group LLC, an advisory and investment firm specializing in diversified real estate investments and related strategies.

 The GLT Group focuses on all forms of commercial real estate and commercial real estate debt and finance. Together with its strategic affiliates worldwide, The GLT Group continues to pursue opportunities throughout North America.

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

 Ran Ziv
Office: 940 Lincoln Road Suite #302
Miami Beach FL 33139

License CA 01918311
License FL SL3278866


 +1 (305) 397-8375  Office
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Thursday, January 28, 2016

Marcus & Millichap Arranges Sale of Parkway Plaza in Fort Myers, FL for $2.9 Million





FORT MYERS, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Parkway Plaza, a 57,891 square foot industrial property located in Fort Myers, Fla., according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $2,900,000.

C. Todd Everett
“Parkway Plaza is an excellent flex industrial investment opportunity with its ample acreage, functional design, and superior distribution access in a desirable light industrial corridor,” says Everett. “We received multiple offers and closed just under list price at $50 per square foot.”

C. Todd Everett, a senior associate, and Douglas K. Mandel, a senior vice president investments, both in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a limited liability company from Tampa, Fla., and the buyer, a private investor from Palm Beach, Fla.

Parkway Plaza is a 57,891 square foot, three-building office/flex plaza occupied by a variety of tenants including LifeTouch, Burch Corporation and Omnicare. The property also includes a land parcel approved for an 18,835-square foot flex building. 

The three buildings were constructed between 1986 and 1990 and recently underwent substantial renovation including roof replacement/resealing, exterior painting, and unit interior and air-conditioning upgrades.

Parkway Plaza is located at 10231 Metro Parkway, just south of Colonial Boulevard between U.S. 41 and Interstate 75

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

Ryan Nee
Regional Manager
Fort Lauderdale, FL

(954) 245-3400

$16 million sale of 235,308-square-foot North 540 Distribution Center in Raleigh, NC closed by HFF team

  
North 540 Distribution Center, 3401 Gresham Lake Road, North Raleigh, NC

 
Chris Norvell
 
CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced today that its Carolinas investment sales team has closed the $16 million sale of North 540 Distribution Center, a 235,308-square-foot, Class A, fully-occupied distribution center in Raleigh, North Carolina.

HFF senior managing director Chris Norvell, formerly of Cushman & Wakefield Thalhimer, represented the seller, a partnership between Meridian Development Group and Singerman Real Estate, LLC, in the sale of the facility to Chicago-based Hamilton Partners.

North 540 Distribution Center is located at 3401 Gresham Lake Road in the North Raleigh submarket.  

The facility is situated on 13.3 acres near the interchange of U.S. Highway 1/Capital Boulevard and Interstate 540, which provides direct access to Interstates 95, 40 and 85, all major distribution corridors in the Southeast.

 The facility features 30’ clear heights, 40’ by 40’ column spacing, 23 dock-high doors, 170’-180’ truck court depths and approximately 23,000 square feet of office space.  Substantially renovated in 2014, North 540 Distribution Center is 100 percent leased to DHL, Express Foods, Ranpak Corp. and Tiger Direct.  

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

Kristen M. Murphy
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 and arranges financing for One Oxford Centre in downtown Pittsburgh, PA


 
One Oxford Centre, Downtown Pittsburgh, PA
John H. Pelusi Jr.
PITTSBURGH, PA  –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged acquisition financing for One Oxford Centre, a one million-square-foot, Class A, trophy office tower in downtown Pittsburgh, Pennsylvania. 

HFF marketed the property on behalf of the seller, Oxford Development Company.  Shorenstein Properties LLC (Shorenstein) purchased the asset.  Additionally, HFF worked on behalf of the new owner to place the acquisition loan with Helaba and CIBC.

Located at 301 Grant Street, the 45-story One Oxford Centre was developed by the seller and consists of 884,403 square feet of office space; a five-level atrium with 58,278 square feet of restaurants, shops and commercial office space; the Rivers Club, a fitness, dining and social club and a separate, eight-story parking garage with 840 parking spaces. 

Sixty-six percent of tenants have headquarters in One Oxford Centre, including Buchanan Ingersoll & Rooney; TriState Capital Holdings, Inc., BPU Investment Management and HFF. 

The HFF investment sales team was led by executive managing director John H. Pelusi, Jr. and senior managing director Mark Popovich.  The HFF debt placement team also was led by Pelusi and Popovich along with executive managing director Mike Tepedino.

“HFF has been involved with the capitalization of One Oxford Centre since its construction in 1983,” Pelusi said.  “It is only fitting that Shorenstein, a nationally renowned and prolific office owner with 25 million square feet under ownership, is acquiring this landmark, Class A office building, which was the vision of Ed Lewis of Oxford Development Company.”

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

Kristen M. Murphy
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 $110 million acquisition financing for the largest refrigerated warehouse in North America

  
Preferred Freezer Services, 2800 Pola Way, Richland, WA
Brandon Chavoya
DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $110 million in acquisition financing for a 456,412-square-foot, Class A, cold-storage warehouse and distribution facility in Richland, Washington, that is triple net leased to a wholly-owned subsidiary of Preferred Freezer Services.

HFF worked on behalf of the borrower, an affiliate of Lexington Realty Trust, to place the 10-year, fixed-rate loan with MetLife Agricultural Investments.  

Completed in 2015, the facility, located at 2800 Polar Way, is the largest refrigerated warehouse in North America and largest automated freezer in the world. 

The 116-foot-tall facility has a total of 36,340,650 cubic feet of temperature controlled area (excluding office and mechanical/utility area), which consists of 312,755 square feet of freezer capacity that stores product at -10° F and 94,930 square feet of medium temperature mezzanine dock space. 

Additional building features include an 11,900-square-foot, two-story office; 6,492-square-foot, two-story equipment/utility room; and 30,335 square feet of mezzanine dock space.  The facility is a state-of-the-art Automated Storage and Retrieval System (ASRS) building. 

Construction of this facility features a rack supported structure for the freezer and a steel frame; metal roof deck and load-bearing concrete walls for the medium temperature dock and the office; and perimeter steel and insulated wall panels around the freezer with a mechanically-attached TPO roof.

Coler Yoakum
The building consists of 117,288 pallet positions operated by a Dematic Automation System that controls cranes, conveyors, monorail and specialized software.  At the peak, the freezer has a wall height of 115 feet with an interior clear height of 108 feet allowing for approximately 11 stories of vertical product storage.

There are 31 manually-operated dock high doors, four automated truck loading dock high doors and one grade-level door.  The ASRS components are real property due to the integration and function of the systems in the facility. 

The property stores and distributes potatoes processed at ConAgra’s nearby Lamb Weston processing plant and is expected to move approximately two billion pounds of frozen products through the facility annually. 

The HFF investment sales team representing the seller was led by senior managing director Mark West and managing directors Brandon Chavoya and Coler Yoakam.

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

Kristen M. Murphy
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





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Sale of 11-property necessity-anchored retail portfolio closed by HFF


The Cavalier Portfolio of 11 properties totaling one million square feet
 in Eastern U.S. markets

 
Amy Sands
ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of The Cavalier Portfolio, an 11-property necessity-anchored retail portfolio totaling more than one million square feet in the central and eastern portions of the United States. 

HFF marketed the portfolio on behalf of the seller, a partnership between DDR Corp. and TIAA-CREF.  Armada Hoffler Properties, Inc. purchased the portfolio.

The portfolio is comprised of dominant retail assets throughout the Carolinas, Virginia, Tennessee, Indiana and Texas, with the largest concentration of assets located in North Carolina.  

The portfolio boasts national retailers such as Harris Teeter, Kroger, Bed Bath & Beyond, Costco, Super Target, DSW, Ross Dress for Less, Total Wine & More, Five Below, GolfSmith, Petco, PetSmart, Office Depot and Staples. 

The HFF team representing the seller was led by senior managing directors Jim Hamilton and Richard Reid, managing director John Owendoff, and directors Amy Sands, Clinton Mitchell and Jordan Lex.

“The Cavalier Portfolio represented a unique opportunity to acquire 11 first-in-class, necessity-anchored retail assets that allowed the buyer to strategically acquire significant retail scale, specifically in the Southeast, and establish an immediate retail presence in dominant markets across the central and eastern United States,” Hamilton said.

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

Kristen M. Murphy
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


$247.5 million refinancing secured by HFF for 20-property retail portfolio in Houston, Dallas and San Antonio, TX


Part of Texas retail portfolio in Houston, Dallas and San Antonio

Michael Tepedino
NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $247.5 million refinancing for a retail portfolio totaling 20 properties and 2.1 million square feet in Houston, Dallas and San Antonio, Texas.

HFF worked on behalf of the borrower, Global Fund Investments, LLC (GFI), to place the long term, fixed-rate loan with TIAA-CREF.  Loan proceeds were used to refinance existing debt and recapitalize the properties.

The 95-percent-leased portfolio consists of 20 properties with approximately 414 tenants, including H.E.B, Kroger, Kohl’s, LA Fitness, Petco, Golfsmith, 24-Hour Fitness, Starbucks and T.J. Maxx. 

Twelve of the retail centers are in Houston or Houston-area suburbs, including Katy, Missouri City, Spring and Sugar Land.  The Dallas-Fort Worth area houses seven of the portfolio properties in Arlington (two centers), DeSoto, Hurst, Plano, Richardson and Southlake.  One of the retail centers is located in San Antonio.

HFF’s debt placement team was led by senior managing director Mike Tepedino, managing director Michael Gigliotti and director Cameron Cureton.

“TIAA-CREF provided a comprehensive financing solution to facilitate the recapitalization of a complicated 20-property portfolio,” Gigliotti said.  “GFI brings an impressive depth of experience and high level of institutional quality to the table, which attracted the lender to the transaction.”

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

Kristen M. Murphy
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



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HFF closes sale and arranges financing for Panorama Corporate Center in suburban Denver, CO


Panorama Corporate Center, Centennial, CO

Mary Sullivan
DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged financing for Panorama Corporate Center, a 780,649-square-foot, six-building, Class A office campus in suburban Denver, Colorado.

HFF represented the seller, Miller Global Properties, LLC, in the sale of the property to EverWest Real Estate Partners and Independencia Asset Management.  

Additionally, HFF assisted the new owner in securing a 70-percent-LTV, 10-year, full term interest only, fixed-rate acquisition loan at 4.78 percent through a national investment bank.  HFF was also involved in the prior sale of the property in 2013.

Panorama Corporate Center is situated on 42.1 acres at the southwest corner of the Interstate 25/Dry Creek Road interchange adjacent to the Dry Creek light rail station in Centennial, a southeast suburb of Denver.

 The Class A complex was developed between 1996 and 2008 and is 94.1 percent leased to tenants including United Launch Alliance and Comcast.  Tenants have access to an on-site deli with Wi-Fi enabled outdoor seating and a fitness center, which is under construction in Building II. 

The HFF investment sales team was led by senior managing directors John Jugl and Mary Sullivan.

HFF’s debt placement team was led by senior managing director Eric Tupler.

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

Kristen M. Murphy
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
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HFF closes $26.5 million sale of three-building office campus near Seattle, WA


Creeksides at Centerpoint, Kent, WA

PORTLAND, OR –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $26.5 million sale of Creeksides at Centerpoint, a three-building suburban office campus totaling 218,650 square feet in the Seattle suburb of Kent, Washington.

HFF coordinated the transaction of Creeksides at Centerpoint. The seller was Unico Properties LLC, and Menashe Properties purchased the asset.  

Nick Kucha
Creeksides at Centerpoint is situated on 12.632 acres at 20415 72nd Avenue S in Kent, a Washington community approximately 21 miles southeast of Seattle and 19 miles northeast of Tacoma. 

There are Metro stops adjacent to the complex, which provide direct access to Kent Station, and the convergence of Interstates 405 and 5 is less than four miles north of the property.

 The three-building campus surrounds a centralized circular driveway with green space and a water feature in its center, and amenities include a board room, child care center, bakery and restaurant, fitness center and a walking/running trail. 

The office complex is 90 percent leased to a diversified rent roll of local, regional, national and government tenants, including Iron Bow Technologies; Washington State DSHS; Washington State Department of Health; Naverus, Inc. and Wells Fargo.

HFF’s investment sales team was led by senior managing director Nick Kucha, who covers the Pacific Northwest markets.

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

Kristen M. Murphy
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
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DiVosta Homes Has 3 Decorated Models Open for Exploring at the Port St. Lucie Community of Veranda Gardens – Showcase event Saturday Feb 6


Port St. Lucie, FL. --- DiVosta Homes is hosting a showcase of three furnished and decorated models at Veranda Gardens Saturday Feb. 6.    The gated community is located on Southeast Becker Rd. one-half mile east of the Florida Turnpike.

David Achee, general sales manager for DiVosta Homes in Southeast Florida, said the event is open to the public from 1 to 3 p.m. for visitors to tour the models and enjoy live music and refreshments.   

The Martin Ray model is one of DiVosta’s most popular designs. The 1,968 square foot home offers two bedrooms and two baths, a flex room and features an optional loft, plus a two-car garage with its own golf cart port.

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


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

Crossman & Co. Negotiates New Leases for the Shoppes and Offices at PGA West in Palm Beach Gardens, FL


Kim Fitzgerald

Palm Beach Gardens, FL --- Kim and John Fitzgerald of Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, negotiated five new lease agreements and one lease expansion at The Shoppes and Offices at PGA West located at 5520 PGA Blvd. in Palm Beach Gardens.  

The tenants who leased space that totals 10,481 square feet are --P

La Masseria Italian Restaurant, 4,017 square feet

Salon Mikimoto, 1,265 square feet

Salt Vault, 1134 square feet

Vintage Craft Barber, 1,032 square feet

Realty Net Media, 650 square feet, and

David Yates Dentistry nearly doubled its space expanding into a total of 2,383 square feet.

 Salt Vault was represented by Valore Group in the negotiations. 

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


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

RealtyTrac Reports 6.4 Million U.S. Properties Seriously Under Water at End of 2015, Down 616,000 from Year Ago and Half of Peak in Q2 2012

  
Daren Blomquist
 IRVINE, CA,  Jan. 28 , 2016 — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its Year-End 2015 U.S. Home Equity & Underwater Report, which shows that as of the end of 2015 there were 6.4 million (6,436,381) U.S. properties seriously underwater — where the combined loan amount secured by the property is at least 25 percent higher than the property’s estimated market value — representing 11.5 percent of all properties with a mortgage.

The report is based on publicly recorded mortgage and deed of trust data collected and licensed by RealtyTrac nationwide along with an industry standard automated valuation model (AVM) updated monthly on RealtyTrac’s entire database of more than 140 million U.S. properties.

The year-end 2015 seriously underwater properties were down 481,292 from 6.9 million (6,917,673) representing 12.7 percent of all properties with a mortgage at the end of the third quarter of 2015 and down 616,189 from 7.1 million (7,052,570) representing 12.7 percent of all properties with a mortgage at the end of 2014.

The number of seriously underwater properties at the end of 2015 was half the 12.8 million (12,824,279) representing 28.6 percent of all properties with a mortgage in Q2 2012, the peak for seriously underwater properties.

“Over the past three and a half years, the number of seriously underwater properties has been cut in half, but we continue to deal with a long tail of seriously underwater properties, and it will likely be another five years at least before most of those remaining underwater properties move into positive equity territory,” said Daren Blomquist, vice president at RealtyTrac.

 “At the other end of the spectrum, the growing number of equity rich properties reflects a moribund move-up market and restrained leveraging of home equity by U.S. homeowners.”

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

Jennifer von Pohlmann
949.502.8300, ext. 139

Wednesday, January 27, 2016

Minto Communities Presents Six New Furnished Models and Opens Sales Office for LakePark at Tradition in Port St. Lucie, FL

  
Lake Park at Tradition, Port St. Lucie, FL
  
Port St. Lucie, FL  (Jan.  27, 2016) – Minto Communities announces six new fully furnished models for its premier active adult community called LakePark at Tradition. The highly anticipated models include two single-family home options and four villas.

The public is invited to view the new models at the grand opening on Saturday, January 30 from 9 a.m. to 5 p.m. and Sunday, January 31 from 10 a.m. to 5 p.m. Light refreshments and hors d'oeuvres will be served on both days of the event, held in the new sales office at 11428 SW Lake Park Drive.

 Steve Svopa, Vice President of Minto Communities, points out that buyers can get a lot more home for their money in Port St. Lucie compared to other cities in South Florida. 

“A recent report suggests that a new 2,300-square-foot home in Tradition is about half of the price of a comparable home in Palm Beach County,” said Svopa.

“With that kind of value in mind, and a quieter lifestyle, many people choose to live in St. Lucie County, which offers golf courses, beaches, shopping and dining.  And all the attractions of the Palm Beaches are less than an hour away.” 

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

 Ashley Fierman,
BoardroomPR
(954) 370-8999


Matt Engel Promoted to Managing Director of T.R. ENGEL Group, LLC


Tom Engel

BOSTON, January 27, 2016—Officials of T.R. ENGEL Group, LLC (TRE), a Boston-based, entrepreneurial hotel advisory and asset management firm, today announced that Matt Engel has been promoted to managing director from senior vice president.  

In his new role, he will provide a pivotal role in TRE’s global advisory and investment services assignments.  He will remain managing principal for T.R.ENGEL Group--Middle East, LLC (TRE-ME), and oversee the company’s investor development in both Qatar and within the GCC region.

“Matt is approaching a decade with TRE and has held asset management and advisory services positions of increasing responsibility and accountability,” said Tom Engel, president.  

“In addition to his success in establishing our presence as the only hotel advisory firm licensed by the Qatar Financial Center Authority, he leads the asset management teams for three of our most important assignments:   the Marriott Crystal City, Renaissance Schaumburg Hotel and Convention Center, and the Munich Marriott Hotel, which combined generate more than $90 million in annual revenues.  This promotion reflects his growing contributions to our global TRE clients and the growth of the company.”

With nearly 15 years’ experience in diversified real estate, hotel asset management and capital markets, Engel previously asset-managed the Calpers Hotel Portfolio on behalf of the Procaccianti Group, a leading independent owner/operator.  Over the past five years, he has provided investors asset management services for such recognized hotels as the South Shore Harbor Resort & Conference Center, Hamburg Marriott Hotel and the Westchester Marriott Hotel, as well as advisory services for the SLS Hotel South Beach and the NoMad Hotel.  Engel received his Bachelor of Science in Public Policy from Hamilton College.

T.R. ENGEL Group, LLC, is a privately held, Boston, Mass., U.S.-based lodging advisory, asset management and real estate investment firm. The company currently is engaged in hospitality advisory projects and hotel asset management throughout the U.S., Europe and the Middle East. TRE offices are located in Boston, the Greater Philadelphia area and Doha, Qatar.

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

Chris Daly, media
(703) 435-6293