Sunday, January 10, 2016

New MBA Survey: Commercial and Multifamily Lenders Expect Strong 2016


Jamie Woodwell
WASHINGTON, DC -- Commercial and multifamily mortgage lending is expected to increase in 2016, as lenders’ and borrowers’ appetites for new  loans remain strong, according to a new Mortgage Bankers Association survey of the top commercial and multifamily mortgage origination firms.

A full 90 percent of the top firms expect originations to increase in 2016, with 50 percent expecting an increase of 5 percent or more, and almost two-thirds (61 percent) expecting their own firm's originations to increase by 5 percent or more.

"Commercial mortgage lenders anticipate another competitive year in 2016, as lender desire to make loans remains strong," said Jamie Woodwell, MBA's Vice President for Commercial Real Estate Research. 

"With strong market fundamentals and the 10 year loans made during 2006 and 2007 maturing this year and next, lenders also anticipate strong demand from borrowers."

 Detailed survey results are available to members of the Mortgage Bankers Association at www.mba.org/crefresearch.

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

Ali Ahmad
aahmad@mba.org

(202) 557-2727

Berger Commercial Realty Hosts Lunch and Learn for Local Business Leaders Featuring Broward County Commissioner Tim Ryan



Judy Dolan

FORT LAUDERDALE, FL – Berger Commercial Realty, a full service commercial real estate firm based in South Florida, recently hosted its Berger Commercial University Lunch and Learn, which featured Broward County Commissioner Tim Ryan as a guest speaker.

Ryan, who ended his one-year term as county mayor the day after the event, discussed local happenings in Broward County including the proposed development of a new hotel at the Greater Fort Lauderdale / Broward County Convention Center, the county’s new animal shelter, the implications of Uber’s return to Broward, developments at the Fort Lauderdale International Airport, and the current state of the county’s water supply.

Tim Ryan
Berger Commercial Realty President Lloyd Berger and brokers Judy Dolan, Mike Feuerman and Steve Hyatt covered trends in South Florida’s commercial real estate market including transaction statistics, notable deals, and analyses of industrial, retail and office spaces throughout the tri-county area.

The event, which took place at Bistro Mezzaluna, was attended by more than 50 business leaders and commercial real estate brokers.

“Berger Commercial’s tag line is ‘Experience the Power of Market Knowledge,’” said Dolan. 

“Staying true to that saying, we hosted this event for commercial landlords, property owners, business leaders and fellow commercial real estate professionals to become more familiar with the local business happenings and the current state of the commercial real estate market.”

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

954-776-1999
Pierson Grant Public Relations
Lexi Robinson, ext. 255, lrobinson@piersongrant.com
Marielle Sologuren, ext. 226, msologuren@piersongrant.com


Crossman & Co. Promotes Rochelle DuBrule to Senior Leasing Associate


Rochelle DuBrule
ORLANDO, FL--- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, has promoted Rochelle DuBrule to Senior Leasing Associate.
      
John Crossman, president of Crossman & Company, said DuBrule joined the firm 4-1/2 years ago and was one of the top leasing agents for the company in 2015.  

She has handled lease transactions valued at more than $32 Million at shopping centers throughout the State of Florida and currently represents a portfolio of more than 1.5 million square feet of retail space.    

DuBrule was named Central Florida NAIOP’s 2013 Rookie Broker of the Year, 2014 Broker of the Year for retail transactions and has been named a CoStar Power Broker for each of the past three years. 

She holds a Bachelor’s of Science Degree in Business Administration from University of Central Florida. 

“Rochelle’s promotion exemplifies how commitment and hard work are valued and recognized by our company,” said Crossman.


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

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


Crossman & Co. Completes New Lease Agreement with Kobe Japanese Steakhouse and Seafood Restaurant at the Madeira Shopping Center in Madeira Beach, FL


Tracy Worrell
MADEIRA BEACH, FL-- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently completed a long-term lease agreement with a restaurant called Kobe Japanese Steakhouse and Seafood for 3,360 square feet at the newly redeveloped Publix anchored Madeira Shopping Center.

Senior Associate Tracy Worrell negotiated the lease representing the landlord of the shopping center on Madeira Beach just west of St. Petersburg.

Kobe Japanese Steakhouse and Seafood marks its first restaurant in the Tampa Bay area with plans to open early this year.

Worrell said the Kobe Japanese Steakhouse and Seafood lease was the last opportunity to be in-line with Publix and brings the Madeira Shopping Center to 94 percent leased, with just 3,200 SF free standing restaurant space available.
 
For a complete copy of the company’s news release, pease contact:

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

Crossman & Co. Negotiates Eight Leases Totaling 23,500 square feet at Marketplace at Cypress Creek in Sun City Center, FL


Sandra Woodworth

SUN CITY CENTER, FL --- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently negotiated eight leases for retail space totaling 23,500 rentable square feet at Marketplace at Cypress Creek. 

Senior Associate Sandra Woodworth negotiated all eight transactions representing the landlord for Marketplace at Cypress Creek, a 75,100 square foot shopping center at 789 Cortaro Drive in Sun City Center.  

Susan Eddy
American Clinical Solutions renewed two existing spaces totaling 14,095 square feet and expanded with a new lease for 2,205 square feet;   

New leases were also signed by AAA of Florida for 1,600 square feet and Ray’s Golf Carts 1,400 square feet.

Woodworth negotiated lease renewals on three 1,400 square foot units with Sun City Dental, Karen Harper-Barber and HearUSA.  Susan Eddy of Lang Realty represented HearUSA.

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

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


NAI Realvest Names Mary Frances West Vice President


Mary Frances West
ORLANDO, Fla. – NAI Realvest, the Orlando-based real estate and investment firm that ranks as one of Central Florida’s most prominent commercial property brokerages and developers, has promoted Mary Frances West, CCIM to Vice President.

Robin Webb, CCIM, managing director of NAI Realvest, said West has 30 years of experience in commercial real estate and specializes in office leasing and sales and land sales. 

West, who joined NAI Realvest 10 years ago, was most recently senior broker associate. She focuses on both landlord and tenant representation. 

She received her CCIM designation fifteen years ago, holds a bachelors degree from St. Mary of the Woods College in Terre Haute, Ind. and an MBA from Oklahoma State University.

“Mary Frances has shown great leadership, production and strength throughout the years with NAI Realvest and she will play a vital role in our continued growth,” Webb said.
 
For a complete copy of the company’s news release, pease contact:

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


HFF arranges 30-year $30 million refinancing for 2-property hotel portfolio in Honolulu, Hawaii


 Best Western The Plaza Hotel 3253 North Nimitz Highway, Honolulu, Hawaii

 LOS ANGELES, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a long-term $30 million refinancing for a two-property, full-service hotel portfolio totaling 581 rooms in Honolulu, Hawaii.

HFF worked on behalf of the borrower, TEG Hotels, LLC, to place the 30-year, fixed-rate loan that has a 30-year amortization with a major U.S. insurance company.  Loan proceeds are being used to pay off an existing loan and fund capital improvements.  The assets are on a ground lease with 30.5 years remaining.


Airport Honolulu Hotel at 3401 North Nimitz Highway, Honolulu, Hawaii

The portfolio consists of the 307-room Airport Honolulu Hotel at 3401 North Nimitz Highway and the 274-room Best Western The Plaza Hotel at 3253 North Nimitz Highway.

 The Northern Honolulu hotels are situated at the entrance to Honolulu International Airport, the main point of entry for Oahu’s five million annual visitors.  The hotels’ surrounding area will have three stops on the Honolulu Rail Transit Project, which is scheduled for completion in 2017 and will consist of 21 stations that connect West Oahu to the airport and continue into downtown Honolulu. 

Bill Fishel
The project will give guests rail access to major tourist destinations, including Pearl Harbor Naval Base and Lagoon Drive.  Waikiki Beach is six miles from the hotels, and Diamond Head is less than 11 miles away. 

The Airport Honolulu Hotel has two four-story buildings and features a picnic area, 3,401 square feet of meeting space and the full-service Willoughby’s Restaurant.  

With one 12-story tower and three two-story buildings, Best Western The Plaza Hotel has 3,024 square feet of meeting space and the full-service Plaza CafĂ©.  Both hotels have fitness centers, business centers and outdoor pools with sun decks.  

The HFF debt placement team representing the borrower was led by director Bill Fishel, based in HFF’s Los Angeles office.

“Institutional lenders and investors are squarely focused on increasing their allocations to Hawaii,” Fishel said. 

“The lender was exceptional to work with on this transaction, and we were thrilled to secure a 30-year financing given the borrower’s long-term ownership plan and today’s historically-low interest-rate environment.”

 TEG Hotels, LLC (TEG) is a privately owned, hospitality focused real estate company founded by David Elmore. 


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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

HFF secures $25.2 million refinancing for Dadeland Centre II in Miami, FL


Dadeland Centre II, Miami, FL


MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $25.2 million loan for the refinancing of Dadeland Centre II, a 113,691-square-foot, Class A office property in Miami, Florida.

Elizabeth Green

Working on behalf of the borrower, The Green Companies, HFF placed the 10-year, fixed-rate loan through New York Life Real Estate Investors.    HFF arranged refinancing for Dadeland Center I, an adjacent building controlled by the same owner, earlier in 2015.

Paul Stasaitis

Dadeland Centre II is located at 9150 South Dadeland Boulevard, within walking distance of the Dadeland South Miami Metrorail station, which provides access to downtown Miami and the greater Miami area including Coral Gables, Brickell Financial District and the Miami International Airport.

 The property is highly accessible and visible from the Palmetto Expressway, US-1, Dadeland Mall and the Baptist Health Cancer Facility.  

Completed in 2008, Dadeland Centre II features hurricane resistant glass, 250 covered parking spaces and superior accessibility via its location in walking distance of Miami’s Metrorail.

 The property is 84 percent leased to tenants including Cole, Scott & Kissane and Credomatic of Florida. 

The HFF debt placement team representing the borrower was led by senior managing director Paul Stasaitis and associate director Jose Carrazana.

“Dadeland Centre II, like its sister property, represents a best in class location within the Dadeland submarket and its close proximity to executive housing as well as mass transit, resulted in very favorable debt capital interest,” said Stasaitis

The Green Companies negotiating team was led by James Bernstein, Brian Bernstein and Elizabeth Green. 

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


HFF secures $39.6 million refinancing for 9-property healthcare portfolio in Dallas/Fort Worth and Houston, TX

  
Steven Heldenfels
DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $39.6 million refinancing for a nine-property healthcare portfolio totaling 234,000 square feet in Dallas/Fort Worth and Houston, Texas.

Working on behalf of the borrower, Pinecroft Core Holdings LLC, HFF placed the 10-year, fixed-rate loan with Voya.  The nine assets are owned across a number of investors.

The portfolio consists of medical office buildings and emergency centers in high-growth areas of Dallas/Fort Worth and Houston.  The properties were built between 2004 and 2015 and are north of 90 percent leased.  

The HFF debt placement team representing the borrower was led by managing director Steven Heldenfels and associate director Jeremy Sain.

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com



HFF closes $16.725 million sale of Publix-anchored retail center in Atlanta, GA


Hamilton Mill Village, 2463 Hamilton Mill Parkway, Northeast Atlanta, GA

Jim Hamilton
ATLANTA, GA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $16.725 million sale of Hamilton Mill Village, an 88,710-square-foot retail center anchored by Publix in northeastern Atlanta, Georgia. 

HFF marketed the property on behalf of an unidentified investment advisor.  Phillips Edison Grocery Center REIT II, Inc. purchased the asset free and clear of existing debt.

Hamilton Mill Village is anchored by Publix, the No. 2 neighborhood grocer in the Atlanta MSA.  Additional tenants of the 92-percent-leased center include Menchie’s Frozen Yogurt, Orange Theory Fitness, Subway, Riverside Pizza, Unleashed by Petco, C2 Education, Great Cuts and Pro Nails. 

Located at 2463 Hamilton Mill Parkway, the property is located across the street from the Hamilton Mill master-planned community, which is a private country club community with a Fred Couples signature golf course. 

Hamilton Mill Village is situated on 11.06 acres in the Suwanee/Buford submarket and is proximate to Interstate 85, which provides a direct route to and from downtown Atlanta

The HFF team representing the seller was led by senior managing directors Richard Reid and Jim Hamilton.

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


Lincoln Property Company Sells Five-Building Phoenix Industrial Portfolio for $37.98 Million

  
 
Amr Ceran
PHOENIX, AZ – In a $37.98 million deal, Lincoln Property Company (LPC) has completed the sale of a five-building Northwest Phoenix industrial portfolio to Colorado-based REIT Industrial Property Trust, Inc.

The deal, which includes Lincoln Deer Valley and Lincoln Pinnacle Park assets, represents the powerful driving force of Phoenix’s mid-size industrial user.

“This is a perfect example of the success happening in Phoenix’s small- to mid-size industrial space,” said Lincoln Property Company’s Vice President Amr Ceran. “These buildings are 97 percent NNN leased with staggered expirations, and below-market rents that deliver a long runway of upside potential for the new owner. It is a great position to be in for both a buyer and a seller.”

LPC serves as property manager for both projects, and will continue do to so for the new owner. This continues a long-standing relationship between the companies that was established in 2013, when LPC sold Broadway 101 to a former entity of Industrial Property Trust for more than $77 million.

 LPC continues to manage the 11 building, 808,000-square-foot Broadway 101 industrial park as part of LPC’s 8 million-square-foot local property management portfolio.

Darla Longo
The Lincoln Deer Valley project is located at 21420 and 21430 N. 15th Ln. in Phoenix, and Lincoln Pinnacle Park is located at 23040 N. 11th Ave. in Phoenix – on sites to the direct north and south of Phoenix Deer Valley Municipal Airport.

Together, the buildings total 340,646 square feet of state-of-the-art, Class A single and multi-tenant industrial space. 

They provide a range of suite sizes to meet the needs of a wide variety of users – a combination that has attracted 19 unique tenants including Petsmart, Alstom, Reynaer’s, US Air Conditioning Distribution and California Closets. Industrial neighbors include Honeywell and FedEx.

Constructed between 2005 and 2006, Lincoln Deer Valley and Lincoln Pinnacle Park offer 24- to 30-foot minimum clear heights, ample trailer storage and car parking. They are located approximately 2.5 miles from one another with direct access to I-17 and the Loop 101 freeway, and are minutes from the Phoenix Deer Valley Municipal Airport, one of the nation’s busiest general aviation airports.

Barbara Emmons
Tenants also benefit from Foreign Trade Zone status, providing state and local tax incentives and on-site job training programs.

Darla Longo, Barbara Emmons, Dan Calihan and Pat Feeney of CBRE represented LPC in the sale.

“Phoenix’s industrial market is flush with active, growth-minded companies who have pushed industrial vacancy rates to near single-digit status,” said LPC Director of Management Services Alisa Timm, who directs the company’s property management strategy.

 “Much of this activity is happening in the 5,000-square-foot to 50,000-suare-foot range – the precise type of tenants who occupy projects like Lincoln Deer Valley and Lincoln Pinnacle Park. This requires a broad understanding of property management, but it also creates very diverse opportunities for our team to shine.”

LPC purchased the five-building portfolio in 2011 from Cornerstone Real Estate Funds as part of a strategy to purchase and stabilize core, institutional-grade industrial space. Through an aggressive leasing plan, LPC – in partnership with Steve Sayre, Pat Harlan and Kyle Westfall of JLL – improved the project from 70 percent to nearly 100 percent occupied.

The sale of Lincoln Deer Valley and Lincoln Pinnacle Park caps off a record-breaking year for the Phoenix office of Lincoln Property Company, who since January 2015 has generated more than $271 million in metro Phoenix investment and development activity.


Alisa Timm
 This includes the company’s very recent, $44 million purchase of the historic Luhrs City Center in downtown Phoenix, the $58 million LPC-Oaktree Capital Management purchase of Biltmore Commerce Center in Phoenix, the $42.3 million disposition of Camelback Square in Scottsdale and the $65 million LPC-Goldman Sachs purchase of Promenade Corporate Center in Scottsdale. 

It also includes the development and delivery of the $24 million Waypoint Building One office property in Mesa.

LPC is actively marketing pre-lease and/or design-build opportunities for Waypoint Building Two, and in March was selected to develop the first phase of Class A and mixed-use office space for The Grand, a 60-acre, urban mixed-use property within Papago Park Center.

To discuss additional investment opportunities with Lincoln Property Company in the Desert West Region, please contact David Krumwiede or Amr Ceran at (602) 912-8888.

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

Stacey Hershauer
focusAZ
Marketing & Public Relations
(480) 600-0195