Saturday, April 30, 2016

Atlantic | Pacific Communities Celebrates Groundbreaking of Northwest Gardens’ Latest Phase in Fort Lauderdale, FL


 
Northwest Gardens IV Apartments, Fort Lauderdale, FL
MIAMI, FL – Atlantic | Pacific Communities (A|P Communities), the affordable housing subsidiary of Atlantic | Pacific Companies (A|P), has expanded its partnership with the Housing Authority of the City of Fort Lauderdale to develop Northwest Gardens V, an affordable housing development which started construction first quarter of 2016.

“We are pleased to partner again with Atlantic | Pacific Communities on the development of Northwest Gardens V, which furthers our mission of providing safe affordable housing to low-income residents in Fort Lauderdale since 1938,” said Tam English, Executive Director of the Housing Authority of the City of Fort Lauderdale.

Northwest Gardens V, which broke ground in February, is the fifth phase of a comprehensive redevelopment initiative undertaken by the Housing Authority in the Northwest Gardens neighborhood of Fort Lauderdale, located just north of the Sistrunk Boulevard corridor west of Powerline Road.

 The neighborhood was the first project in the southeastern United States to be pre-certified at the Gold level under the Leadership in Energy and Environmental Design (LEED) for Neighborhood Development.

 The property was awarded an Affordable Green Neighborhoods Grant by the U.S. Green Building Council to incorporate these new units into the existing LEED-ND certification, bringing the total number of units redeveloped by the Housing Authority under the LEED-ND program to 612.

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

Jessica Wade Pfeffer | jessica@jessicawadeinc.com | 305.804.8424
Margie Sernik | margie@jessicawadeinc.com | 786.200.2516


www.apmanagement.net or call (800) 918–1145.

Follow A|P on Facebook (@AtlanticPacificCompanies), Instagram (@APCompanies) and Twitter (@APCompanies).

Passco Cos. Acquires Core Multifamily Community for $53.5 Million in Florida’s Hospital Health Village


The Ivy Apartments, Florida Hospital Health Village, Orlando, FL

 
Colin Gillis
ORLANDO, FL – Passco Companies, LLC has acquired The Ivy, a 248-unit, Class A+ newly constructed multifamily community located in Florida Hospital Health Village in Orlando, home to the second largest hospital in the nation, for $53.5 million.

“The Orlando market is currently undergoing tremendous growth,” says Colin Gillis, Vice President of Acquisitions, Southeast for Passco Companies. “According to a recent report by the U.S. Department of Labor, Orlando created more jobs than any other metropolitan area in the nation in 2015, ranking first for employment gains and second for population growth.”

Gillis explains, “This rapid job creation, especially in the healthcare sector, coupled with the huge immigration of workers will continue to drive demand for multifamily housing in the area, making this a strong addition to our existing portfolio.”

Situated along the I-4 Corridor, this transit-oriented property benefits from its prime location near major employment centers and is the only multifamily property within Florida Hospital’s Health Village, which is home to more than 10,000 high-quality healthcare jobs. 

The rapidly-expanding employment base within The Health Village is all right at the front-door of The Ivy.  In addition to serving the local community of healthcare workers, The Ivy also offers convenient access to commuter transit options and jobs throughout the Orlando metro. 

Shelton Granade
The Ivy is within a 5-minute walk of one of four downtown stops for Orlando’s 62-mile Sun Rail project making all of Orlando highly accessible from the Property without the need of a vehicle.

“Nowhere are we seeing more progressive and innovative development than in Orlando, Florida,” continues Gillis. 

“The City of Orlando recently invested nearly $8 billion in infrastructure and transportation projects, inclusive of the Sun Rail commuter line and an expansion of the I-4. 

"The Ivy’s location in close proximity to these major transit systems will drive demand for the property, providing an opportunity to deliver stabilized yields to our investors.”

Constructed in 2015, The Ivy features luxury amenities including multi-level pool decks with a resort-style swimming pool, a state-of-the-art fitness center, and yoga studio. The apartment community also offers immediate access to trendy downtown areas including upscale shopping, dining, and entertainment options.

The Ivy is located at 2650 Dade Avenue in Orlando, Florida. Shelton Granade, Vice Chairman at CBRE represented Passco and the seller.

Chris Black of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing for Passco Companies through Fannie Mae.

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

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

29th Street Capital Hires Stonemark Management to Handle Three Houston, TX Properties


Javier C. Bustillo
Houston, TX  – 29th Street Capital (29SC) has hired Stonemark Management to manage three multifamily communities in the Houston, Texas area. Stonemark is now managing:

Casa Palmas, a 308-unit community in Pasadena
Harbor Walk, a 138-unit community in League City
The Flats at South Shore, a 176-unit community, also in League City.

Stonemark’s responsibilities include managing and leasing the communities, while supervising an ongoing $2.3 million renovation project.

“We are excited to be working with Stonemark on our new acquisitions in Houston and look forward to continuing to grow our platform with them, said Javier C. Bustillo, Senior Vice President at 29th Street Capital.

“As an owner, it is extremely important to be able to trust and depend on the management company to be proactive, and a true partner, and we could not be more pleased with the value Stonemark has brought to the table.”


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

Terri Thornton
Partner, Thornton Communications
p:404-932-4347 | e:Terri@TerriThornton.com | w:www.TerriThornton.com
http://www.facebook.com/pages/Thornton-Communications/112101288827299 http://twitter.com/Ttho http://www.linkedin.com/in/TerriThornton




HFF secures $99.5 million financing for 125 South Clark Street in Chicago,IL


125 South Clark Street Office Tower, Chicago, IL                    (photo by Costar)

Christopher Carroll
                                                                                        CHICAGO, IL – April 19, 2016 - Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $99.5 million in financing for 125 S. Clark Street, a 573,276-square-foot office building in Chicago, Illinois.

Working on behalf of the borrower, Blue Star Properties and the Wolcott Group LLC, HFF arranged floating-rate financing with Brookfield Real Estate Financial Partners and Bank of the Ozarks.  Loan proceeds were used to payoff existing financing, complete building renovations and fund leasing capital for the project.

Originally built in 1907 by Daniel Burnham as the Commercial National Bank Building of Chicago, 125 S. Clark is currently undergoing a renovation and rebranding to The National. 

The 20-story, steel and concrete building will feature lofted office space; an outdoor terrace; a one-of-a-kind, main level artisanal marketplace and lounge; record shop and fitness center.  The office space will offer tenants 12-14’ ceilings, fully operable single-hung windows and expansive floor plates. 

The National is situated in the heart of Chicago’s central business district with connectivity to numerous modes of public transport including CTA/EL Trains, Metra train lines and public bus routes. 

The HFF debt placement team representing the borrower was led by managing director Christopher Carroll and included senior managing director Michael Kavanau and associate director Christopher Knight.

 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 two premier Charlotte, NC office buildings


Morrison Building, 6525 MOrrison Boulevard, SouthPark Submarket, Charlotte, NC

Ryan Clutter
CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) and Spectrum Properties announced they have closed the sale of the Morrison and Roxborough Buildings, two premier, multi-tenant office buildings totaling 178,338 square feet in Charlotte, North Carolina.   

HFF marketed the property on behalf of the seller, Lionstone Investments.  The property was purchased by a joint venture partnership between Spectrum Properties and Intercontinental Real Estate Corporation.

The Morrison and Roxborough Buildings are located at 6525 Morrison Boulevard and 1901 Roxborough Road, directly across from the Southpark Mall in the SouthPark submarket of Charlotte. 

This location is convenient to Charlotte’s central business district, the Charlotte Douglas International Airport and area thoroughfares including Interstates 77, 85 and 485.  The four- and five-story properties are 95% leased to tenants including Velocity and South State Bank.

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

Scot Humphrey
“Morrison and Roxborough are two exceptionally well-located office buildings in the heart of SouthPark, one of Charlotte’s most dynamic submarkets.  These buildings attracted considerable interest from the investment community as they have a long history of out-performing their competition and achieving strong rents,” commented Clutter. 

“There is a tremendous amount of ‘value-add’ capital in the marketplace seeking opportunities to push rents through building improvements or proactive leasing strategies.  We continue to see this segment of the market aggressively pursue our well located Carolinas offerings and we believe this trend will continue for the foreseeable future,” added Clutter.

“This acquisition gives Intercontinental the opportunity to capitalize on the strong Charlotte market. We are fortunate to have partnered with Spectrum Properties and appreciate the excellent services of HFF.  We look forward to more excellent investments on behalf of Intercontinental’s investors,” commented Peter Palandjian, chairman and CEO of Intercontinental.

“We are excited about adding these two great office assets in SouthPark to our Charlotte portfolio. We are fortunate to again partner with Intercontinental on this investment,” commented John Boylan, president of Spectrum Properties.


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 $9.75 million refinancing for redeveloped shopping center near Atlanta, GA


Connexion at Holcomb Bridge Retail Center, Roswell, GA

Travis Anderson
CHARLOTTE, NC ­ -– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $9.75 million refinancing for Connexion at Holcomb Bridge, a 106,769-square-foot retail center in the Atlanta suburb of Roswell, Georgia.   

HFF worked on behalf of the borrower, Hawthorne Retail Partners (Hawthorne), to place the floating-rate loan with New Bridge Bank.  Initial proceeds of $7 million were used for post-close acquisition and renovation financing, while the remainder will be used for future capital costs.

Completed in 1985, Connexion at Holcomb Bridge was redeveloped by the borrower and, from 2013 to 2015, underwent extensive renovations and added 5,502 square feet. 

The three-building center is home to notable tenants Planet Fitness, UnitedHealth Group, Starbucks, Verizon Wireless, GolfTEC, My Salon Suite, Kale Me Crazy, Taqueria Tsunami, Foundation Social Eatery, Dove Studio and Cycleworks. 

Situated on 11.77 acres at 1570 Holcomb Bridge Road, Connexion at Holcomb Bridge is located less than a mile from Georgia 400, a primary north-south artery.  The center is accessible via Holcomb Bridge Road and Holcomb Woods Parkway, which have a combined daily vehicle count of 48,000.

Chip Sykes

The HFF debt placement team representing the borrower was led by senior managing director Travis Anderson, director Chip Sykes and associate director Cory Fowler. 

“Hawthorne has done an outstanding job of revitalizing the previously-tired property into a fresh, modern center,” Fowler said.  “The property benefits from a highly-visible location in which tenants want to be.  With the addition of quality national and regional tenants alike, the property will continue to see success as retail demand tightens.”

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

Thursday, April 28, 2016

Altís Sand Lake Apartments Becomes Largest Green Certified Multifamily Community in Orlando, FL



L-R: Max Stamos VP of Management, Michael Luzier President & CEO of  Home Innovation Research Labs, Christina Webb VP of Development, Joel Altman Chairman/ CEO, Jeff Roberts President/ COO, Kyle M. Abney Abney + Abney Green Solutions

ORLANDO, FL – The Altman Companies has a lot to celebrate in Orlando. It just finished up construction on the 315-unit Altís Sand Lake in the Dr. Phillips neighborhood.

 A ceremony was held Wednesday, April 13 at Altís Sand Lake and at the same time, the company was awarded the National Green Building Standard (NGBS) Green Certification by Michael Luzier, president and CEO of Home Innovation Research Labs.  

Joel Altman
Altís Sand Lake is the largest NGBS Green Certified multifamily community in Orlando, in terms of number of certified buildings. The development has 13 separate buildings.

The NGBS is an ANSI-approved national rating system used to gauge the performance of residential construction based on six key categories: energy efficiency; water efficiency; resource efficiency; lot development; operation and maintenance; and indoor air quality.

NGBS Green Certification is provided by Home Innovation Research Labs, an accredited third-party testing and certification agency and an independent subsidiary of the National Association of Home Builders.

“We are very proud that our company has achieved its first NGBS Green Certification,” said Joel Altman, chairman of The Altman Companies. “We at Altman are committed to see that our residents have an Exceptional Living Experience, and we are also environmentally conscious and care about a sustainable lifestyle. At Altís Sand Lake, we are able to give our residents both.”

“Attaining our third-party ‘seal of approval’ allows quality-minded builders like The Altman Companies to distinguish their properties from the competition,” according to Luzier.

 “Earning NGBS Green Certification means going beyond what’s simply required by code, to provide consumers with a better place to call home – an energy cost-saving, healthier, and more comfortable place to live. I applaud Altman for making this commitment at Altís Sand Lake for the benefit of its renters and the larger community.” 

Altís Sand Lake is located at 7118 Altís Way.

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

Ashley Fierman
Account Executive, BoardroomPR
afierman@boardroompr.com
O 954-370-8999
C 954-330-1554
Bank of America Plaza | 1776 N. Pine Island Road
Suite 320 | Plantation, FL 33322



Stolz Partners Breaks Ground on Independence, a 430-acre mixed-use community in Gwinnett County, GA adjacent to Bay Creek Park


 
Phillip Galbreath
ATLANTA, GA –– Stolz Partners announced the groundbreaking for ‘Independence’, a 430-arce mixed-use community at the intersection of Ozora Road and Highway 20 in Gwinnett County, adjacent to Bay Creek Park and Grayson High School. 

 When complete, the development will extend along both sides of Highway 20. The residential portion of the community adjoins Bay Creek Park, while the retail and commercial part of the property abuts Grayson High School.

 The commercial portion of the development is over 90 acres and approved for more than 590,000 square feet of improvements with access to three existing, full median breaks along Highway 20 with active traffic signals.

Independence will include some 760 homes comprised of single family homes and townhomes with proposed pricing ranging from the mid-$200s to the $500s.

“Independence is a significant new development in one of Gwinnett County’s most desirable locations,” said, Phillip Galbreath, partner, Stoltz Partners.

 “We are focusing on the natural beauty of this expansive property and creating a lifestyle that complements the picturesque landscape, with streams and wooded areas comprising approximately 20 percent of the community.

“Our goal is to design a traditional neighborhood that appeals to first-time homebuyers, those moving up to a larger home, or empty nesters who are downsizing.  We will offer a broad array of neighborhoods within Independence that will create a well-designed walkable community with a traditional hometown feel.”

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

Gayle MacIntyre
Global Ink Communications
404.643.8222



Marcus & Millichap Handles $1.75 Million Sale of Wallysburg Apartments in St. Petersburg, FL.


 
Jason Hague
ST. PETERSBURG, FL, April 18, 2016 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada,  announced the sale of Wallysburg Apartments, a 24-unit apartment property located in St. Petersburg, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $1,750,000.

Jason Hague, associate, Nicholas Meoli, vice president investments, Michael Donaldson, vice president investments, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  The buyer, a government agency, was secured and represented by the three brokers.  

Wallysburg Apartments is a 24-unit multifamily apartment community located at 5006 1st Street North in Saint Petersburg, Florida. The property was constructed in 1974, and consists of three, two-story buildings that sits on .87 acres of land.

The building is comprised of ten, one-bedroom/one-bathroom units which range in size from 600 to 675 rentable square feet; five, one-bedroom/one-bath units with a den which are approximately 675 rentable square feet and nine, two-bedroom/one-bathroom units which are approximately 775 rentable square feet.

Michael Donaldson
The property is situated just minutes from two major thoroughfares, U.S. 19 and Interstate 275. It is also just three miles north of downtown St. Petersburg, one of the fastest growing and most sought after metropolitan areas in Florida.

“Through our national and international marketing campaign we generated six offers in less than sixty days including three within five percent of the asking price,” says Hague. “The property is very well located just minutes from downtown St. Petersburg and is surrounded by a multitude of employment centers.

“ Despite several challenges with the property’s current condition, we were able to solidify a buyer that closed on a cash basis within the contract timeframes.”

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

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

(813) 387-4700

Walden Landing Apartments in Plant City, FL Sold for $2.57 Million in Deal Brokered by Marcus & Millichap


Ned Roberts
PLANT 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 Walden Landing, a 44-unit apartment property located in Plant City, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $2,575,000.

Ned Roberts, associate, Nicholas Meoli, vice president investments, and Michael Donaldson, vice president investments, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. 

The buyer, a private investor, was secured and represented by Luis Baez, senior associate in the firm’s Tampa office. 

Walden Landing is a 44-unit apartment community centrally located between Tampa and Lakeland at 305 West Grant Street in Plant City, Florida.

 Built in 1986, the community consists of three, two-story buildings comprised of eight, one-bedroom/one-bathroom units with 524 rentable square feet, eight, one-bedroom/one-bathroom units with 650 rentable square feet, 16 two-bedroom/two-bathroom units with 776 rentable square feet and 12 three-bedroom/two-bathroom units with 1,100 rentable square feet.


Nicholas Meoli
Walden Landing features a sparkling swimming pool, on-site leasing center, laundry room and washer/dryer hook-ups in most units.

“The sale of Walden Landing further solidifies the movement of capital into secondary and tertiary markets to achieve greater yield,” says Donaldson.

“With prices continuing to climb in all markets in Florida, suburban areas such as Plant City are attracting investors with more prevalent higher return class “B” value-add opportunities such as Walden Landing,” adds Roberts.

“The buyer of Walden Landing was attracted to the desirable unit mix, good location and ability to push rents higher through management efficiencies and property upgrades,” concludes Baez.

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

Richard D. Matricaria
First Vice President / Regional Manager
Tampa, FL
(813) 387-4700



Marcus & Millichap Arranges $1.5 Million Sale of Family Dollar & Hotel Liquidators Site in Largo, FL


Dan Mulkey

LARGO, 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 Family Dollar & Hotel Liquidators, a 16,875-square foot retail property located in Largo, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $1,500,000.

Dan Mulkey, Michael Donaldson and Nicholas Meoli, all vice president investments in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. 

The buyer, a private investor, was secured and represented by Jamie Medress, senior vice president investments, and Mark Ruble, first vice president investments, both in the firm’s Phoenix office. 

Family Dollar & Hotel Liquidators is a two-tenant net-leased property located at 1442 North Missouri Avenue in Largo, Florida.

 The center is situated with great frontage on U.S. Alternate 19 North, a busy thoroughfare running north/south through Pinellas County. This is a highly desirable retail location benefiting from over 260,000 people living within a five mile radius.

The property sits adjacent to a Walmart, and directly across the street from a new WaWa gas station, LA Fitness, TJ Maxx, Ross, Shoe Carnival and Dollar Tree.

“This two-property, net-leased investment is in an excellent location in the Clearwater market,” says Mulkey. “Although older, the Family Dollar has recently renovated their store showing their commitment to this site. Hotel Liquidators is a local tenant with strong historical sales. These two tenants provide the buyer with exceptional returns going forward.”


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

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

(813) 387-4700

David Holcombe Joins Crossman & Co. in Atlanta, GA


David Holcombe
ATLANTA, GA -- Crossman & Company, one of the Southeast’s largest retail leasing, property management and investment sales firms, has announced that David Holcombe has joined the leasing team as a senior associate.

Holcombe brings an impressive nine-year industry track record of building relationships, strategic planning, and negotiating new leases and renewals.

 He has sold and leased commercial real estate retail properties in the Atlanta area and throughout the Southeast by establishing close working relationships with retailers, business owners, landlords, and tenant representation.

“We are delighted David is joining our leasing team, particularly given our growth and the overall positive momentum of the firm in the market,” said Crossman & Company Chief Operating Officer John Zielinski, CCIM. “His passion for the industry, strategic vision and creating deep client relationships reflects our values and goals.”

Holcombe comes to Crossman & Company from WRS Realty in Atlanta, where he was a senior leasing agent. He holds a Bachelor of Business Administration degree in Commercial Real Estate from the University of Georgia.

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

 Mike Bonts @ mbpr
(904) 424-6641


Wednesday, April 27, 2016

The Procaccianti Group Promotes Paul Sacco to President and Chief Development Officer of TPG Hotels and Resorts


Paul Sacco


 Cranston, RI — The Procaccianti Group, a privatelyheld real estate investment and management company, today announced the promotion of Paul Sacco to president & chief development officer of its dynamic and newly-named hotel division, TPG Hotels & Resorts.


Jim Procaccianti
While he continues to focus on driving the overall growth of the company, in his new role as president, Sacco will help lead the overall strategic direction of TPG, which currently operates 60 hotels nationally with over $840M of hotel revenues under management.

“Paul has demonstrated a strong ability to strengthen relationships with our constituents, as well as open doors to new investment partners because of his proven track record and extensive industry relationships,” said Jim Procaccianti, president and CEO of the Procaccianti Group.

 “Paul has helped us accelerate from a well-known hotel real estate investment company into a true force within the hospitality management industry. TPG has evolved into a sought-after hotel management powerhouse, both for our existing and new capital partners.

“ We have every confidence that Paul will continue to lead TPG Hotels & Resorts’ growth into the future.”


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

Chris Daly, media
(703) 435-6293




Super 8 Welcomed to Germany by Munich’s Rising Stars of Music, Food, Drink and Technology


Daniel Ruff
MUNICH, GERMANY  – Live music, artisan cocktails, fashionable street food and a lively atmosphere: on April 21st, Wyndham Hotel Group announced the opening of the first Super 8 hotel in Germany, located in the fashionable Laim district of Munich.

To celebrate the hotel’s grand opening, around 150 guests attended a celebration at the new Super 8 Munich City West on Landsbergerstraße, where they were introduced to other local newcomers and rising stars in the fields of music, food and beverage, and technology.
                     
 "Munich is a bustling metropolis brimming with new ideas and innovative business models, as evidenced by the tremendous local talent showcased at our grand opening celebration" says Daniel Ruff, President and Managing Director EMEA for Wyndham Hotel Group.

 "Super 8 Hotels are modern and fit in well with the city, its fast-paced development and the discerning taste of guests from all over the world who visit. Super 8 hotels are equipped to meet international standards at a high level while also always emphasizing the unique

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

Hannah Gray
Publicasity
wyndham@publicasity.co.uk
+44 20 3757 6800


HFF closes $29.75 million sale of Nassau County, Long Island office building


Jericho Atrium Office Building, 500 North Broadway, Jericho, NY

Jose Cruz
FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Jericho Atrium, a 148,563-square-foot office building in Jericho, New York, a hamlet in Nassau County, on Long Island’s North Shore.

HFF marketed the property on behalf of the seller, Metropolitan Realty Associates, LLC and Angelo Gordon & Co., L.P.  The buyer was a Long Island-based real estate company who purchased the asset for $29.75 million. 

Located at 500 North Broadway, Jericho Atrium is convenient to The Long Island Expressway; Northern State, Meadowbrook and Wantagh Parkways; and the Seaford-Oyster Bay Expressway, providing access to Long Island’s North and South Shores, Manhattan and the other New York City boroughs. 

The two-story property is situated on 8.6 acres and offers parking for 690 vehicles.  Building amenities include a fitness center, conference center, daytime concierge and a location adjacent to Whole Foods, Starbucks and Marshall’s among others.

 Jericho Atrium is 88 percent leased.  Notable tenants include American Investment Planners, Clinical Trial Media, NMS Management and Elias Properties.

The HFF investment sales team was led by senior managing director Jose Cruz and managing directors Kevin O’Hearn and Evan Pariser.

“This was a strategic purchase for the new owner.  The property itself offers current stability and upside for the buyer including the pad site,” stated Cruz.


 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 expands its Portland, OR investment sales team with the addition of Brian Hanson


Brian Hanson
PORTLAND, OR  -– Holliday Fenoglio Fowler, L.P. (HFF) announced Brian Hanson has joined its Portland office as a director focused on multi-housing and middle market investment sale transactions in Portland and the Pacific Northwest.

Mr. Hanson joins HFF from ScanlanKemperBard Companies where he was most recently a vice president. 

Prior thereto, he worked for Massey Knackal Realty Services as a first vice president of sales, and later, a commercial real estate consultant.  Mr. Hanson completed his undergraduate degree at Boston University and holds a master’s degree in real estate finance from New York University.  

“We are very excited to welcome Brian to our growing Portland and West Coast team, and look forward to his contributions to HFF in 2016 and beyond,” said Nicholas Kucha, senior managing director and co-head of HFF’s Portland office.


 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 downtown San Diego, CA Class A office tower


610 West Ash Office Tower, Little Italy Neighborhood, San Diego, CA


 
Nick Psyllos
SAN DIEGO, CA -- Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of 610 West Ash, a 19-story, 177,489-square-foot, Class A office tower in San Diego’s Little Italy neighborhood.

HFF marketed the property on behalf of the seller.  A partnership between Gemini Rosemont and Central Properties purchased the asset for an undisclosed amount.

610 West Ash is located in San Diego’s Little Italy neighborhood, which is an urban mixed-use community within the downtown submarket.  

The property is the only Class A high-rise office building in Little Italy and is 98 percent leased to tenants including ESET, Department of Homeland Security and the Environmental Protection Agency.  610 West Ash also features a nine-level, 397-space parking garage.  

The HFF investment sales team representing the seller was led by senior managing directors Nick Psyllos, Ryan Gallagher and Michael Leggett, who is also co-head of HFF’s West Coast team, and director Nick Frasco.

Since October 2010, Gemini Rosemont has acquired approximately 6.8 million square feet of Class A and B multi-building office assets in select secondary markets valued at more than $950 million. As of December 2015, Gemini Rosemont has sponsored 165 investment vehicles, deployed over $805 million of investor equity to make more than $2.5 billion in purchases, and acquired/managed approximately 30 million square feet of commercial real estate.
  
 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 $7.8 million sale of 5.12-acre development site near JFK International Airport in New York City





 
Michael Nachmkin
FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $7.8 million sale of the 5.12-acre land tract adjacent to John F. Kennedy (JFK) International Airport in the New York City borough of Queens, New York.

HFF marketed the site on behalf of the sellers, Philips International and Rhodes NY.  Gabrielli Truck Sales Ltd. (Gabrielli) purchased the site.

The project required various state and local approvals from the New York City Economic Development Corporation and the Port Authority of New York and New Jersey.  Gabrielli plans to construct a facility for their use on the site.

JFK International Airport is one of the leading international air cargo centers in the world and home to 18 cargo-only freight carriers, including American Airlines, FedEx, Delta Airlines and China Airlines.

 The site is located at 181-25 Eastern Road in Jamaica, Queens, which is in the Queens County industrial submarket and proximate to both the Belt Parkway and Interstate 678 (JFK Expressway) leading into Manhattan.

 Construction will begin on the industrial development this year.  Prior to this development, there have been few industrial/commercial developments within a three-mile radius of the airport within 30 years. 

Evan Pariser
The HFF investment sales team representing the seller was led by managing director Michael Nachamkin and senior managing director Evan Pariser.

“We were extremely happy with the outcome for both the buyer and seller,” Nachamkin said.  “The purchaser worked extremely hard along with their counsel to obtain all the approvals necessary to develop the site for their needs.”


 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





NAI Realvest Negotiates Four Leases at South Park Business Center in Orlando, FL


 
Tom R. Kelley II
 ORLANDO, FL – NAI Realvest recently negotiated four leases totaling 8,703 rentable square feet at South Park Business Center, 8600 Commodity Circle in Orlando.

Tom R. Kelley, II, CCIM, a principal at NAI Realvest negotiated all the transactions on behalf of the landlord South Park, LLC. 

Bloom USA International Corp, a manufacturer and distributor of housewares, has leased 2,307 square feet; David Hammett of CRE Advisors LLC represented the new tenant.

TLL Top LED Lumination LLC also signed a new lease for 2,084 square feet;

Concord Alliance, LLC renewed its lease of 2,218 square feet and Vacation Innovations renewed the lease of 2,094 square feet.

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

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


Alex Lastra, Senior Managing Director of Atlantic | Pacific Development, Appointed President of Latin Builders Association


Alex Lastra
MIAMI, FL – Miami-based Atlantic | Pacific Companies (A|P Companies), a fourth generation real estate company, is pleased to announce Alex Lastra, Senior Managing Director of Atlantic | Pacific Development (A|P Development), a subsidiary of A|P Companies, was appointed as the 22nd President of The Latin Builders Association (LBA).

The LBA is the largest Hispanic construction association in the United States and is a nonprofit organization, which includes a vast array of individuals and companies related to the South Florida construction industry. 

Previously a member of the LBA’s board of directors, Lastra’s goal for the LBA is for continued growth and believes in being a strong voice for its members

"I want to be a voice protecting the industry to continue growing opportunities for developers and contractors. If there is any problem affecting the real estate industry in Miami, the Latin Builders are there to protect the interest of its members,” said Lastra.

Prior to joining A|P, Lastra was a member of The Lastra Group, a design/build firm developing small offices as well as large luxury residences. Following his tenure at The Lastra Group, he joined The Related Group of Florida.

Randy Weisburg
During his six years at Related, Lastra was responsible for all facets of real estate development including initial site planning, land entitlements and acquisitions through construction and project close out.

 Lastra received his Bachelor’s degree with a specialization in Finance from Florida International University graduating with Honors.

Randy Weisburd, A|P's Chief Operating Officer, says "A|P is delighted to have our Senior Managing Director serve as the President of The Latin Builders Association. Our senior team leaders continue to take leadership roles throughout our community; we commend their commitment and dedication."

For more information about A|P and its array of real estate services including development, property management, affordable housing, and construction, visit www.apmanagement.net or call (800) 918–1145. Follow A|P on Facebook (@AtlanticPacificCompanies), Instagram (@APCompanies) and Twitter (@APCompanies).

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

Jessica Wade Pfeffer | jessica@jessicawadeinc.com | (305) 804 - 8424
Margie Sernik | margie@jessicawadeinc.com | (786) 200 - 2516


Tuesday, April 26, 2016

Wendover Housing Partners’ Haley Park Apartments Eases Financial Strain on Income Restricted Seniors in Tampa, FL


Jonathan L. Wolf
TAMPA, FL,  April 26, 2016 – Wendover Housing Partners, a privately held real estate development, investment and management company, today announces the opening of its first affordable senior community in Tampa, Haley Park Apartments.

The new property is a member of the prestigious collection of properties in Florida built and managed by Wendover Housing Partners. 

With first-class design standards in mind, Haley Park provides income restricted residents age 55 and up with a safe and upscale community to call home.

“The National Housing Conference predicts that the number of Florida residents age 65 and older will more than double by the year 2030,” said Jonathan L. Wolf, President and Founder of Wendover Housing Partners. 

“As the state’s aging population increases, there is an immediate need for cost-effective rental homes for seniors, especially in metro areas near hospitals and doctors’ offices. Haley Park will help address this rising need in Hillsborough County.”

Wendover broke ground on the 80-unit Haley Park development in June 2015, and will welcome its first residents in May. Each one and two-bedroom unit in Wendover’s new community was thoughtfully designed with senior comfort and safety in mind, and comes equipped with a dishwasher, microwave, island and pantry, as well as a full-size washer and dryer.

Rendering of planned Haley Park Apartments, Tampa, FL
All units also boast ample storage areas in an open and spacious floor plan, as well as a monitored emergency call system. 

With monthly rent from $605 to $720, Haley Park’s apartments are priced far below Florida’s average range of $1,176 to $1,657.

“While our units are affordable, they are designed with the same style and amenities you’ll find in high-end apartment communities,” said Wolf. “Our goal is not just to fill apartments—we believe in fostering a community in which our residents feel socially stimulated and supported.”

Like Wendover’s other senior properties in Florida, which include New Port Richie’s The Landings at Sea Forest, Jacksonville’s Marcis Pointe, and Central Florida’s Heritage Village Commons, Haley Park provides residents with the opportunity to participate in planned resident events.

 Residents are also offered constant access to a variety of indoor and outdoor areas to socialize, including a fitness center, library, swimming pool, green space with benches and a gazebo, and a dog park.

 For more information about Haley Park, visit www.haleyparkapts.com.

For additional information about Wendover Housing Partners, visit www.wendovergroup.com.
  
For a complete copy of the company’s news release, please contact:

Melissa Landy
Uproar PR for Wendover Housing Partners
321.236.0102 ext. 233