Monday, February 29, 2016

HFF hires Kyle Spencer as a director in its Austin, TX office


Kyle Spencer
AUSTIN, TX, Feb. 29, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that Kyle Spencer has joined the firm as a director in its Austin office.  Mr. Spencer will focus on debt and equity placement transactions in Austin and central Texas.

Mr. Spencer joins HFF from Texas Realty Capital where he was an associate.  In this role, he originated more than $300 million in new client business for the firm and was the top producer company-wide for production volume in 2014 and 2015.

 After graduating with a Bachelor of Liberal Arts degree from the University of Texas at Austin, he began his career in commercial real estate finance as an analyst at Texas Realty Capital.  Mr. Spencer is a member of the Real Estate Council of Austin and ULI Young Leaders Group.

“Adding Kyle to our team will allow us to expand upon our current debt and equity capabilities for our current and future clients across central Texas,” said Douglas Opalka, senior managing director and co-head of HFF’s Austin office. 

“He’s had tremendous success with new business development and cultivating new client relationships at his prior firm and we look forward to his contributions at HFF.”

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


Marcus & Millichap Brokers $1.3 Million Sale of Bay Vista Apartments in Tampa, FL


Cameron Barbas
TAMPA, FL, Feb. 29, 2016 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Bay Vista Apartments, an eight-unit apartment property located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $1,300,000.

Cameron Barbas, associate, Francesco P. Carriera, first vice president investments, and Michael P. Regan, first vice president investments, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  They also represented the buyer, a fund manager. 

Bay Vista Apartments is exceptionally located at 2918 West Bay Vista Avenue in the Bayshore Beautiful submarket of South Tampa, and just one-half block from Bayshore Boulevard. 

The eight-unit multifamily property consists of two, two-story buildings, which are comprised of six, one-bedroom/one-bathroom units with 900 rentable square feet and two, two-bedroom/one-bathroom units with 900 rentable square feet.

Amenities include an on-site laundry facility and off-street parking, and the property sits on 0.24 acres.

Francesco P. Carriera
“The upgraded units at Bay Vista Apartments were renting at higher rates than any other 1920s vintage asset that close to Gandy Boulevard. The high rental rates are continuing to expand south from Tampa’s Urban Core,” says Barbas.

“Bay Vista Apartments was on the market for a total of 16 business days before going to contract, and we generated more than 10 showings and six offers within that period,” Barbas said. “The listing was cultivated over a long relationship before the seller was interested in selling.

“Relationships like these allow us to help sellers increase value at the time of sale. We are also able to help owners increase cash flow during their holding period and provide them with market information that allows them to make the most informed decision possible.”

“Frank, Mike and I have now listed and/or closed nearly 650 units in South Tampa, and that number continues to grow. We are seeing local, national and international buyers submitting offers on these assets.

“The mayor and city have done a phenomenal job positioning the city for growth, and it’s reflected by the residents that are continuing to move to South Tampa and the investors that are upgrading these buildings for them,” concludes Barbas.

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

Richard D. Matricaria
Vice President/Regional Manager
 Tampa, FL

(813) 387-4700

Marcus & Millichap Arranges sale of Surelock Self-Storage in Orlando, FL


Michael A. Mele
ORLANDO, FL,  Feb. 29, 2016 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Surelock Self-Storage, a 61,000-square foot self-storage facility located in Orlando, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

Michael A. Mele, senior vice president investment, and Luke Elliott, senior associate, both in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller. They also represented the buyer, a local limited liability company.

 “There was a constant communication during the marketing and under contract phase. It is wonderful to work with someone that makes this process rather easy,” states the sellers, Bouik and Dana Koshmer.

“Making sure private clients are well represented has been the backbone of our success,” adds Mele. “Using our vast resources to ensure they are getting the best deal possible is extremely important to us.”

Surelock Self-Storage is a state-of-the-art facility located in a high density location at 7628 Narcoossee Road in Orlando, Florida. Constructed in 2006, this self-storage facility contains 61,000 net rentable square feet and two pad ready sites.

There are currently 402 non-climate controlled units and 120 climate controlled units on the property. To ensure secure storage, access is only granted with keypad entry through the electronic gate with digital security monitoring and fire sprinklers in each unit.

“We always cherish our client’s successes, but this transaction was somewhat of a stand out. The construction and management of this property were truly a family affair for the sellers. They built the property from the ground up beginning in 2006, and it was immensely satisfying to partner with them and achieve their goals,” said Elliott.

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

Richard D. Matricaria
Vice President/Regional Manager
 Tampa, FL

(813) 387-4700

International conference in Hawaii hosted by CBRE Hotels examines current state and future of hotel investment and capital markets

  
Amelia Lim

HONOLULU, HAWAII, Feb. 29, 2016 – Nearly 80 investors, owners, operators, asset managers, hotel brands and lenders from Shanghai, Osaka, Madrid and from across the mainland U.S. gathered in Hawaii to attend an invite-only event at the iconic Royal Hawaiian Hotel on January 28, hosted by CBRE Hotels in Hawaii.

The symposium, See the World of Ho‘okipa, Hospitality in a Whole New Light, provided an unprecedented view of Hawaii’s hotel fundamentals relative to the broader global context, the impact of debt and equity capital on Hawaii’s lodging sector, and performance forecasts for 2016 and 2017. The conference featured a heavyweight line up of the world’s preeminent hospitality executives.

Yvonne Siew
“This symposium showcases CBRE Hotels’ comprehensive suite of services, spanning transaction, debt and structured finance, valuation, strategic advisory, asset management and research. Hawaii is rich with opportunities in the hospitality sector, and the CBRE platform in Hawaii is structured as a full-service provider to groups seeking to capitalize on these opportunities,” said Amelia Lim, Vice President of CBRE Hotels, Valuation and Advisory Services, Hawaii.

“CBRE has the depth of market knowledge and strength of relationships with decision makers in Hawaii that can only come with living and working within the community for an extended period of time.

Mark Woodworth
“The synthesis of CBRE’s intensive market penetration in Hawaii with our global platform and access to international capital markets creates a very powerful value proposition for our clients.


“We are the perfect solution for offshore investors and capital sources making forays into Hawaii’s hospitality sector, as well as for local hospitality firms seeking to expand their global reach.”

Meanwhile, Yvonne Siew, Executive Director and Head of International Capital at CBRE China, explained that the strong dollar is the lure of investing in the U.S., especially since the renminbi outlook is anticipated to depreciate another 5 percent in 2016.

“I’m in touch with the major insurance companies and State Owned Enterprises (SOE) with specific mandates to invest in U.S. assets,” Siew said. 

“The strong dollar versus the local Reminbi is perceived by the Chinese as a form of investing into safe assets. Hawaii is very much open to foreign capital. We see this as a great opportunity for Chinese capital.”

Siew noted that Chinese construction companies, railway and infrastructure groups are concerned the local outlook in China will not give them the growth and profits, so investors are looking for investment and marketing opportunities abroad. 

Kevin Mallory
Those opportunities could be in tourism, oil or gas investments. Siew said that according to reports, if 3 percent of the high net worth individuals in China moved just 7 percent of their wealth out of their country, it would add up to $1.5 trillion in U.S. dollars.

Forecasting presentations from CBRE Hotels’ leaders Kevin Mallory and Mark Woodworth kicked off the event, followed by a panel discussion with four industry experts about the future growth of hotel spending and investment, including Chinese interests in Hawaii, the ramifications of Airbnb’s exponential growth, as well as regulatory compliance, expanding interest rates and the impact of the rising cost of debt on investment strategy.


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

Kimberly K. Lord (B)
+1 808 541 5170


Sunday, February 28, 2016

HFF closes sale of Resource Square Five in Charlotte, NC


Resource Square Five office building, University submarket, Charlotte, NC


CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Resource Square Five, a five-story, 152,452-square-foot, Class A office building in Charlotte, North Carolina’s University submarket.

HFF represented a fund managed by DRA Advisors, LLC in the sale of the property to Dilweg Companies.

Resource Square Five is located at 10715 David Taylor Drive on 12.2 acres within the five-building Resource Square office park.  This location is convenient to the Interstate 85 corridor, a stretch of the Interstate that spans from Richmond, Virginia to Atlanta, Georgia, as well as Interstate 77 and Interstate 485, which is Charlotte’s outer loop. 

Ryan Clutter
The property is also less than one mile from the ongoing Blue Line extension, an extension of the existing Blue Line rail service that serves downtown and south Charlotte. 

Completed in 2000, Resource Square Five is the newest building in the office park and is 92.4 percent leased, primarily to the IRS.  The property features an exercise facility with showers and locker rooms and on-site parking for 677 vehicles.

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

“Resource Square Five is a high-quality asset located in the thriving University Area submarket of Charlotte, which now has its lowest office vacancy rate in over 15 years,” said Clutter.  

“With the market really tightening up and rents growing in the area, investors were attracted to the potential to achieve compelling investment returns with the asset.”

“Institutional capital continues to find Charlotte and the Carolinas an attractive market to invest their capital, and we believe this trend will continue throughout 2016,” added Clutter. 

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 $11.5 million financing for manufactured home community in the San Francisco Bay Area


Spanish Ranch II community, Hayward, CA


SAN DIEGO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $11.5 million in acquisition financing for Spanish Ranch II, a 187-home site, 100-percent occupied, manufactured home community for seniors (age 55+) in the San Francisco Bay Area community of Hayward, California.

Spanish Ranch II poolside, Hayward, CA
HFF worked on behalf of the borrower, Hometown America, to secure the 10-year, fixed-rate, full-term, interest-only loan through Aegon USA Realty Advisors, LLC, a commercial real estate investment and management arm of Aegon Asset Management.

Spanish Ranch II is situated on 22 acres at 121 Ranchero Way approximately three miles from Interstate 880 and five miles from the San Mateo Bridge, which provides direct access to all major cities in the Bay Area. 

The community is 18 miles south of downtown Oakland and 26 miles southeast of downtown San Francisco.  Spanish Ranch II features a resort-style clubhouse, dining room, library, pool, Jacuzzi, guest parking and all double-wide or larger home sites.

Zach Koucos
The HFF debt placement team representing the borrower was led by director Zach Koucos.

“Spanish Ranch II is another great addition to Hometown’s portfolio and fits very well within our investment strategy of acquiring high-quality communities in target markets such as California,” said Doug Minahan, vice president of Hometown America.

 “We were very pleased with the competitive quotes received through HFF’s efforts.  This is a clear indication that lenders are bullish on high-quality manufactured housing communities located in desirable markets.”

“The debt markets remain very competitive for high-quality manufactured housing communities like Spanish Ranch II,” Koucos added.  “We are grateful to Hometown America for the opportunity to assist them in financing such an excellent acquisition.”

 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




Lincoln Retained for Management Assignment for Pleasant Hill Square Center in Duluth, GA


Chip Sipple
ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) has secured an assignment to manage Pleasant Hill Square. The regional power center was built in 1997 and is located at 2205 Pleasant Hill Road in Duluth, Georgia, within the Gwinnett Place CID.

“Our successful management of Pleasant Hill Square led to the former owner getting a premium price when it sold recently,” said Shane Froman of Lincoln. 

“The new owner, GW Real Estate of Georgia LLC, saw the value we were able to add as the property manager, which led to our retention of management services post-sale.”

Pleasant Hill Square includes an advantageous line-up of national anchors including Toys ‘R’ Us, Staples and Jo-Ann Fabric & Craft Stores with 86 percent of the current tenant roster featuring national and regional tenants.

 The property is located in the second-most populous county in Georgia, and is positioned directly on Pleasant Hill Road with great visibility to over 50,000 cars per day.

The property recently sold on Auction.com for $16.4 million. Tony Bartlett and Chip Sipple of Lincoln and Kyle Stonis and Pierce Mayson of SRS represented the seller in the transaction.

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

Savannah Durban
The Wilbert Group
404-343-0870

Lincoln Wins Management Assignment for Southlake Corporate Center in Morrow, GA

  
Shane Froman
ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) has secured an assignment to manage the Southlake Corporate Center. The three-story building, which totals 57,600 square feet, is located at 3000 Corporate Center Drive in Morrow, Georgia.

“Office space in secondary markets is growing in popularity as demand for intown space is driving rental rates to a premium,” said Shane Froman of Lincoln. “Well-located Class A space is in high demand, and with Lincoln’s best-in-class management services we believe the remaining space will lease quickly.”

Southlake Corporate Center features spaces ranging from 1,700 to 13,409 square feet, frontage along I-75, and a strong amenity base including easy access to restaurants, banks, hotels and Southlake Mall. 

The property is approximately 10 minutes from Hartsfield-Jackson International Airport, and offers ample surface parking with four spaces per 1,000 square feet.

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

Savannah Durban
The Wilbert Group
404-343-0870

Marcus & Millichap Arranges $2.35 Million Sale of Knights Inn in Panama City, FL


David M. Greenberg
PANAMA CITY, 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 the Knights Inn (formerly known as the Buccaneer Beach Motel), a 101-room hotel located in Panama City, Fla, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $2,350,000.

David M. Greenberg, first vice president investments, and David Altman, an associate, both in Marcus & Millichap’s Fort Lauderdale office, represented both the seller and buyer of the property.

“The buyer of the property saw a great opportunity to convert the hotel to a senior living facility, due to its waterfront location and close proximity to downtown Panama City, County and Federal Court Houses, Gulf Coast Regional Medical Center and Bay Medical Center,” says Altman. 

“Also included in the sale was a 12,500-square foot restaurant, most recently operated by Panama Café.”

Originally constructed in 1960 as a Holiday Inn, the Knights Inn is a 101-room, five-building, two-story, full-service motel.  The motel is situated on a 3.2+/- acre parcel with over 800-feet of direct frontage Saint Andrew’s Bay and includes a private beach and dock.

The Knights Inn is located at 711 West Beach Drive in Panama City, FL.

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

Ryan Nee
Vice President / Regional Manager
Fort Lauderdale, FL

(954) 245-3400

Stepp Commercial Completes Sale of 16-Unit Apartment Property in Long Beach, CA


225 Gaviota Avenue Apartments, Long Beach, CA
Robert Stepp


LOS ANGELES, CA – Stepp Commercial, a leading multifamily brokerage firm in the Long Beach market, has completed the $2,375,000 sale of a 16-unit apartment property located at 226 Gaviota Avenue in Long Beach in an off-market transaction.

Robert Stepp and Michael Toveg of Stepp Commercial represented the seller, Los Angeles-based Jarm One, LLC, as well as the Los Alamitos-based private buyer. The transaction closed at a 4.68 percent cap rate. 

“The property is located in an area with historically low vacancy rates so our goal was to find a buyer who was seeking a true value-add opportunity,” said Toveg. 

“We were able to secure a buyer who was comfortable with the product type and location and saw the opportunity to maximize the property’s income potential by changing the façade, renovating the units, and bringing rents up to market rate.”

Built in 1920, the property includes 12 studio units, two one-bedroom units, and two two-bedroom units. It is located in the Alamitos Beach neighborhood of Long Beach which has been experiencing a substantial amount of investment and rental growth over the past two years.

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

Darcie Giacchetto
949.278.6224


Ackerman & Co. Arranges Sale of 1.4 Acres for $1.2 Million to Bojangles Franchisee in Kennesaw, GA


Gina DeRaffele

Atlanta, GA– The Ackerman & Co. Retail Investment Sales team and Transwestern represented Flagstar Bank in the sale of a 1.4-acre land in Kennesaw, Ga. for $1,200,000. A Bojangles Franchisee, one of the fastest growing quick-service brands in the country, purchased the property. The franchisee was represented by Retail Site Services.

Sean Patrick
Last summer, the Charlotte-based chicken-and-biscuit chain announced plans to add additional corporate and franchise restaurants in Atlanta. 

Bojangles’ debuted in this market in 2013 with a location in the Atlanta Hartsfield-Jackson International Airport – there are now more than 45 locations in the City.

Ackerman & Co.'s Sean Patrick and Gina DeRaffele along with Chris McCauley of Transwestern (Boston, Ma.) represented Flagstar Bank.

"This is an excellent retail location," said Vice President of Investment Sales Sean W. Patrick, CCIM. 

"With demand from Kennesaw State University, close proximity to an extensive retail area which includes recognizable brands like Home Depot, Walgreens and Starbucks among others," he added.

The property also offers rear access to Shiloh Road with a signalized intersection along the heavily traveled retail corridor with more than 35,000 vehicles per day. 

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

Fara Wilson
Vice President
Director of Marketing and Communications

P: 770.913.3904    C: 678.358.2060    F: 770.913.3965

Petco Leases 192,461 Square Feet at Ackerman & Co.’s Braselton 85 Distribution Center in Braselton, GA


Kris Miller
 Atlanta, GA – California-based Petco has signed a 192,461-square-foot, five-year lease at Ackerman’s Braselton 85 Distribution Center in Braselton, Ga. This lease brings the center to 100-percent occupancy.

The 440,165-square-foot, Class “A” bulk distribution center is located less than two miles from I-85 and the Georgia Highway 211 interchange. 

Approximately 50 miles northeast of Atlanta, Braselton has become a major logistics center, attracting several tenants to the area including Mizuno, Hitachi, Havertys and Kichler Lighting.

“Being able to find nearly 200,000 square feet of contiguous space was an incredible opportunity in such a tight market,” said Kris Miller, President of Ackerman & Co. “Braselton 85 Distribution Center was the best option for Petco.”

The national pet retail store will use this space as an additional Southeast distribution center, increasing its footprint in the market to nearly 700,000 square feet.

Trey Barry and Mark Hawks of CBRE represented Ackerman & Co. in this transaction.

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

Fara Wilson
Vice President
Director of Marketing and Communications

P: 770.913.3904    C: 678.358.2060    F: 770.913.3965

T&M Florida Snags Two Renewals at Sawgrass Corporate Park in Sunrise, FL


Sawgrass International Corporate Park, Sunrise, FL

Jennifer Gemma
 Sunrise, FL --  T&M Florida has secured 18,500 square feet of renewals at Sawgrass International Corporate Park in Sunrise, FL  following M-M Properties’ $75 million purchase of the four building office portfolio.

 The new ownership’s focus now centers on leasing the portfolio’s remaining 7% of available space including a full floor of 24,000 square feet.

 “With the limited supply of new and existing Class A office space in the Sawgrass market, it’s getting harder and harder for companies to find large contiguous amounts of space,” said Joel McCarty Senior Vice President of M-M Properties. “Office rates will continue to rise as supply dwindles.”

The portfolio’s centralized location with access to both the Fort-Lauderdale-Hollywood and Miami International Airports make it an ideal location for corporate headquarters and regional offices. 

Donna Korn and Jennifer Gemma of T&M Florida negotiated the two recent renewals on behalf of the buildings’ owner.

Bureau Veritas renewed an 11,500 square foot lease at 1601 Sawgrass Centre. The company is a world leader in laboratory testing, inspection and certification services. Created in 1828, the Group has around 66,700 employees located in 1,400 offices and laboratories around the globe. Rod Loschiavo and Lauren Gallart of JLL represented the tenant in the transaction. 


Donna Korn
All Risks, LTD renewed a 7,000 square foot lease at 1551 Sawgrass Centre. The insurance company headquartered in Hunt Valley, Maryland, is the largest national independent wholesale brokerage firm. 

The 51-year-old firm employs over 750 staff members throughout the U.S. CBRE brokers Jeff Holding and A.J. Belt represented the tenant in the transaction.

The four buildings within the M-M Properties portfolio are located at 1550-1560 and 1551-1601 Sawgrass Corporate Parkway. They total 348,676 square feet on 28.1 acres within the Sawgrass Park submarket of Broward County.

The properties are 93 percent leased to tenants such as Centene Management, eFund Corporation, Regus Business Centre, and Marsh USA, Inc. 

The office park is close to Interstates 75 and 595, just southwest of the second most visited attraction in Florida, the Sawgrass Mills Mall, an area which sees more than 25 million 
visitors per year.
  

Lauren Gallart
T&M Florida is a diversified real estate company specializing in the development, marketing and management of office buildings, suburban office parks, industrial parks and mixed-use projects The company leases and/or manages a portfolio over 12 million square feet throughout the state with offices in Sunrise, Miami, West Palm Beach, Tampa, Jacksonville and Orlando.

M-M Properties is a privately held real estate investment firm that seeks to provide exceptional risk-adjusted returns to its investors through superior execution of carefully developed strategies. M-M Properties’ senior management have worked together for long tenures ranging up to 20 years through several public and private real estate investment companies. 

M-M Properties’ team has deep experience throughout real estate market cycles and multiple project phases including acquisition, disposition, recapitalization, development, and investment management across a broad range of property types and within all major U.S. markets. 

The company or its principals have engaged in real estate investment activities on behalf of investors, partners or for its own account across a portfolio of assets that has included 36 million square feet of office projects and almost 17,000 multifamily units with a cumulative transaction volume of approximately $8.6 billion.

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


Post Properties Announces Quarterly Dividends; Increases Dividend Payout to Common Shareholders by 6.8 Percent


Dave Stockert
ATLANTA, GA --(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate investment trust, declared quarterly dividends on its common stock of $0.47 per share for the first quarter of 2016. 

The dividend is payable on April 15, 2016, to all common shareholders of record as of March 31, 2016.

Said Dave Stockert, CEO and President, “We are pleased to raise the dividend to common shareholders again this year, reflecting the continuing success of our business and a favorable operating environment. 

"With today’s announcement, we expect our annualized rate of common dividends to increase by 6.8 percent to $1.88 per share.”

Post also announced regular quarterly dividends for its 8.5 percent Series A Cumulative Redeemable Preferred Stock of $1.0625 per share for the first quarter of 2016. 

The dividend is payable on March 31, 2016, to all Series A preferred shareholders of record as of March 15, 2016.

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

Post Properties, Inc.

Chris Papa, 404-846-5000

Saturday, February 27, 2016

Three Attorneys Elevated to Partner at Newmeyer & Dillion, LLP


Clayton Tanaka
NEWPORT BEACH, CA -- Newmeyer & Dillion, LLP, a premier business and real estate law firm in California and Nevada, is pleased to announce the promotion of three of its attorneys to partnership.

“Clay Tanaka, Eric Rollins, and Jonathan King have proven their ability to provide the highest quality legal services to our clients while embracing the core values of the Firm which make it unique,” said Jeff Dennis, managing partner of Newmeyer & Dillion. “We are proud to welcome them as our new partners.”

The new partners share extensive legal and trial experience, demonstrating quick and creative solutions for their clients.

 Clay Tanaka is an experienced trial lawyer practicing in both California and Nevada, focusing on construction, real estate, business, insurance disputes and appellate law.  As a licensed civil engineer in California, Clay has extensive knowledge of construction practices as well as vast experience in the designs of both residential subdivisions and commercial developments. He has represented developers and general contractors in numerous complex real estate and construction matters through trial, including disputes involving grading, design, boundary and easement disputes, water intrusion and insurance coverage issues. Clay has also represented a variety of businesses in actions involving breach of contract, fraud, and copyright and trademark infringements.  He is also fluent in Japanese.

Eric Rollins
Eric Rollins’ practice focuses on the litigation and arbitration covering a broad range of business, real estate, construction, insurance, and land use disputes.  Within the construction arena, he regularly handles complex construction matters and insurance coverage issues arising out of construction claims for both residential and commercial builders. In his business and land practice, Eric has litigated a variety of claims in state and federal courts involving breach of contract, negligence, unfair business practices, fraud, business formation, eminent domain, and inverse condemnation. He has experience with all phases of business litigation, including arbitration, mediation, and trial preparation.

Jonathan King’s practice focuses on the representation of developers, builders, and general contractors in construction litigation and has extensive experience defending personal injury allegations in industrial and construction settings.  His business cases include litigation of intellectual property infringement, and general business litigation.  Jonathan has successfully resolved and defended complex matters in both mediation and binding arbitration settings.  Jonathan also obtains federal trademark protection and negotiates licensing agreements for clients.

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

Gia Altreche 949.271.7338
Newmeyer & Dillion | 895 Dove St. 5th Floor | Newport Beach, CA 92600


Hold-Thyssen negotiates lease at New England Building on South New York Avenue in Winter Park, FL


Darby Hold
WINTER PARK, FL--- Hold-Thyssen, Inc., recently negotiated a three-year expansion and renewal lease agreement for 1,199 rentable square feet in the New England building at 230 S. New York Ave., Winter Park. 

Darby Hold, lease consultant for Hold-Thyssen, negotiated the agreement on behalf of the local landlord, New England Partners, LLC.

Kracht Law Firm, P.A., who already occupies Suite 101 with 735 square feet renewed and also expanded into another 464 square feet in Suite 100 of the New England Building.     The tenant specializes in real estate, probate, community association and business transaction law.   

The New England Building is currently 100 percent leased.

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 that 100 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.


Thursday, February 25, 2016

HFF closes sale of 270-unit apartment community in south Houston, TX


Ranch at City Park, 11900 City Park Central Lane, South Houston, TX

 
Chris Curry
HOUSTON, TX – Feb. 25, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Ranch at City Park, a 270-unit, Class A multi-housing community in south Houston.

HFF marketed the property exclusively on behalf of the seller, Gaia Real Estate.  A Chicago-based private equity group purchased the asset for an undisclosed amount.

Ranch at City Park is situated on 13.76 acres at 11900 City Park Central Lane, approximately 10 miles south of Houston’s central business district. 

In addition to its location along Highway 288, the property provides nearby access to other major thoroughfares including Beltway 8, Loop 610, the Fort Bend Parkway Toll Road and Highway 90. 

The property has one- and two-bedroom units averaging 893 square feet each and features amenities including a resort-style swimming pool, outdoor fireplace, picnic and grilling area, 24-hour fitness center, clubhouse, game room with billiards table, theater room, cyber café and detached garages.

The HFF investment sales team representing the seller was led by managing director Chris Curry, senior managing directors Todd Stewart and Todd Marix and associate director 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


HFF secures $100.2 million financing for 3.9 million-square-foot industrial portfolio in Indianapolis, IN


Matthew Schoenfeldt
CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $100.2 million in acquisition financing for an eight-property, Class A industrial portfolio totaling 3.9 million square feet in the Indianapolis metropolitan area. 

HFF worked on behalf of the borrower, a joint venture between Biynah Industrial Partners, L.L.C. and Olympus Ventures, to place the 10-year, fixed-rate loan with an international life insurance company.  HFF will service the loan, which was used to purchase the portfolio.

The institutional-quality assets were built between 1997 and 2013 and range in size from 282,000 to 1.3 million square feet with clear heights of 28’ to 32’.  

The portfolio is more than 95 percent leased to a roster of credit-rated tenants, including Sur La Table, OHL/GEODIS and the United States Postal Service.

 The eight buildings that comprise the portfolio are situated on a total of 209 acres on the western side of Indianapolis.  The four Plainfield properties – 1100 and 1101 Whitaker Road, 2450 Stanley Road and 3100 Reeves Road – and three of the Indianapolis facilities – 7451 and 7452 Tempelhof Drive and 710 South Girls School Road – are proximate to Indianapolis International Airport, home of the second largest FedEx hub in the world.

Ken Martin
 The Brownsburg facility, 901 East Northfield Drive, is located just off Interstate 74, which connects Indianapolis to the central Illinois, Iowa and Chicago markets.

The HFF debt placement team was led by managing director Matthew Schoenfeldt and director Ken Martin.

“This debt placement effort ranks among the most competitive in my two-decade career,” Schoenfeldt said.  “The blue-chip life company lender who won the assignment stepped-up in impressive fashion, differentiating themselves with a combination of blockbuster terms and the smooth, seamless delivery on which they have built their impeccable reputation.”


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 $23.5 million sale of Southern California Sprouts Farmers Market store

  
Sprouts Farmers Market, Culver City, CA

Gleb Lvovich
 NEWPORT BEACH, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $23.5 million sale of a single-tenant, 32,873-square-foot building fully leased to Sprouts Farmers Market in the Southern California community of Culver City, California.

HFF marketed the property on behalf of the seller, Niki Properties.  An undisclosed buyer purchased the asset in what is, according to HFF, a record pricing for the sale of a single-tenant Sprouts Farmers Market (Sprouts). 

The trophy property is triple net leased to Sprouts, a natural and organic food retailer, through 2025.  Situated on 2.63 acres at 5660 West Sepulveda Boulevard, the asset’s infill location is proximate to where the 405 Freeway and State Road 90 intersect, which have combined daily traffic counts of approximately 450,000 vehicles. 

The Sprouts property is in an affluent area of Culver City, a community 10 miles west of downtown Los Angeles, with median home values reaching $687,278 within a three-mile radius.


Nick Foster
  The building is located directly across the street from Westfield Culver City, a one million-square-foot regional mall, and shares a parking lot with Office Depot, Bevmo and Bunnin Chevrolet of Culver City.

The HFF investment sales team representing the seller was led by Gleb Lvovich, Nick Foster, CJ Osbrink and Bryan Ley.

“As one of the top-performing Sprouts locations chain-wide, coupled with a core location in Los Angeles, the offering received tremendous interest from the entire investment community,” Lvovich 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



HFF closes sale of Hilton Key Largo Resort hotel in the Florida Keys


Hilton Key Largo Resort, Key Largo, FL
Daniel C. Peek



TAMPA, FL -– Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of the Hilton Key Largo Resort, a 200-room waterfront resort in Key Largo, Florida.

HFF marketed the property on behalf of the seller and completed the sale to KHP Capital Partners.  Davidson Hotel Company will assume management post-closing.

The Hilton Key Largo Resort is situated on a 13.1-acre parcel with 850 feet of Florida Bay frontage in Key Largo, the first and largest of the Florida Keys.

  Located at 97000 South Overseas Highway, the hotel is less than 70 miles from Miami International Airport and near the John Pennekamp State Park, the only living coral reef along the continental United States, and numerous fishing and watersports attractions. 


Max Comess
Consisting of three four-story buildings connected by covered walkways on each floor, the resort features a private beach, 21-slip marina, two outdoor heated pools, two tennis courts and watersports rentals.

 The property also includes approximately 18,000 square feet of indoor and outdoor event space, Treetops Bar & Grille, Splashes Pool Bar and Waves Beach Bar.  

The HFF investment sales team representing the seller was led by senior managing director and head of HFF’s hotel group Daniel C. Peek, managing director Max Comess and associate director Alexandra Lalos.

“Florida hotels are continuing their trend of exceptional performance into 2016,” Peek said.  “Increases in group travel and diminishing seasonality have translated into strong institutional interest for resorts, particularly in extreme barrier-to-entry markets such as the Florida Keys.”

“Key Largo in particular seems to be emerging as a new high-end resort destination in South Florida,” Comess added.  “The same transformation and flight to quality that occurred in Key West and Islamorada in recent years appears to be happening in Key Largo, the closest of the Florida Keys to Miami.”

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 secures construction loan for built-to-suit Class A office development in Dallas’ Cypress Waters master planned community

  
Trey Morsbach
DALLAS, TX –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured construction financing for the development of a 325,600-square-foot, built-to-suit, Class A office development for CoreLogic in Dallas, Texas.

Working on behalf of Billingsley Company (Billingsley), HFF placed the fixed-rate construction/perm loan with Regions Bank.  The financing includes a two-year construction loan plus multiple extension options. 

This is the fourth financing HFF has secured for Dallas-area developments for Billingsley in the last year, including arranging the construction loan for 7-11’s corporate headquarters within Cypress Waters.

Due for completion in April 2017, the four-story property will be fully leased to CoreLogic, a leading global property information, analytics and data-enabled services provider based in Irvine, California. 

The CoreLogic build-to-suit is situated within Billingsley’s Cypress Waters master-planned community, a 1,000-acre waterfront development with office, multi-housing and retail in the central part of the Dallas-Fort Worth Metroplex. 

Jim Curtin
Located on 20.85 acres at the intersection of Hackberry Road and Ranch Trail, the property is positioned along the LBJ Expressway (Interstate 635) corridor less than three miles from the north entrance of DFW International Airport.

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

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