Wednesday, February 3, 2016

Atlantic | Pacific Cos. Acquires Three More Assets to Expand Its Multifamily Portfolio in Georgia

Mark Briggs

MIAMI, FL – Miami, Fla.-based Atlantic | Pacific Companies (A|P) is pleased to announce the acquisition of three multifamily communities in Georgia. The recently closed deals expand A|P’s regional reach to 15 multifamily communities within four years of opening its Atlanta office.

A|P currently holds 12 other communities in Georgia including four in Atlanta, one in Kennesaw, two in McDonough, one in Norcross, one in Dallas, one in Duluth, one in Brookhaven, and one in Decatur.

The three new multifamily acquisitions include:

The Atlantic BridgeMill, located at 1000 Preston Glen Circle in Canton, GA is located in Canton’s beautiful Bridge Mill master-planned development. The property houses 236 units including spacious one, two and three bedroom floor plans.

Ashley Forest is located at 9230 Nesbit Ferry Road, in Alpharetta, GA. The 220-unit community is set amidst a naturally wooded landscaped retreat in North Fulton County – considered to be one of Atlanta’s most affluent areas.

The Domain at Holcomb Bridge is located amongst 52 acres of lush wooded surroundings at 3383 Holcomb Bridge Road in Norcross. The property houses 420 units.

Atlantic BridgeMill Apartments, Canton, GA

A | P Companies plans to make capital improvements to all three properties including enhancements to the clubhouses, fitness centers and pool areas, as well as upgrades within the units.

Atlantic | Pacific Management (A|P Management), the property leasing & management platform under A|P, will handle all property management responsibilities for all properties.

Mark Briggs, Senior Managing Director at A|P Management remarked “We’re extremely excited to continue our smart growth in the Atlanta market with the addition of these three well located assets.  We look forward to introducing our successful upgrade skills to these three value-add opportunities.

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

Jessica Wade Pfeffer | Jessica Wade Inc.

Margie Sernik  | Jessica Wade Inc.


Real Estate Capital Institute Reports China’s Mystery Economy Keeping U.S. Mortgage Rates Tame

John Oharenko
Chicago, IL - Declining oil prices, China followed
by Fed statements are the order of news impacting capital markets and
keeping mortgage rates tame.  "Fueling" the fire that sparks low rates,
crude oil prices are the lowest levels since 2003.  China's economy remains
a mystery with limited information on recovery prospects.  This news mixture
leads to some of the most favorable bond rallies in recent history with
ten-year treasuries now dipping below the 2% range. The benchmark 10-year
note yield is actually down by about 40 basis points since the Fed announced
a rate hike at the end of last year.
John Oharenko, advisory board member of the Real Estate Capital Institute(r)
notes, "The mortgage markets are in for another wild ride this year.  A wide
variety of pricing exists between quality and more entrepreneurial real
estate funding options."

Yet again, the real estate borrowing community benefits from ongoing lower
rates. The likelihood of rising interest rates may be shelved for the
foreseeable future as conflicting economic signals hold back the Fed from
taking any further action.

Although benchmark rates are dropping, Wall Street's mortgage conduit market
suffers unpredictable pricing gyrations based upon widening yields within
all spectrums of the capital stack as investment-grade tranches rise more
than three quarters of a percentage point higher from last year's levels.
This funding sector is now quoting mortgage rates approaching 5% or more for
long-term debt.

Agencies, life companies and banks, on the other hand, are on a steadier
path as their sources of capital are more predictable, tending to price 25
to 50 basis points lower that conduit lenders, usually because of upon lower
leverage and more conservative underwriting. 

The bottom line for investors and borrowers alike...lower leverage with cash
flowing deals will continue to attract the most competitive capital.  All
other types of funding opportunities may require additional enhancements,
guarantees, holdbacks and other funding restrictions.  Leverage is becoming
more and more of a "red flag" as capital markets take a break from widening
price gaps and record low capitalization rates on most types of higher
quality properties.

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

Jeanne Peck, Executive Director

Minor Hotel Group Completes Largest-Ever Hospitality Deal in Portugal with Acquisition of Tivoli Hotels & Resorts

Tivoli Hotels & Resorts, Portugal

BANGKOK, THAILAND  --  Minor Hotel Group (MHG), owner and operator of hotels and resorts in 22 countries across Asia Pacific, the Middle East, Europe, South America, Africa and the Indian Ocean, announces completion of the final stage of its acquisition of Tivoli Hotels & Resorts, a well-known Portugal-based brand with 14 properties across Portugal and Brazil.

The acquisition of Tivoli Hotels & Resorts, which totals EUR 294.2 million, not only marks MHG’s strategic entry into Europe and Latin America, but also provides the group with a strong operating platform to drive further growth in those markets.

This represents the largest-ever hospitality transaction in Portugal and is a highly accretive acquisition for MHG. The Tivoli business is strong, generating revenue of EUR 121 million and normalised EBITDA of EUR 31 million in 2015. The acquisition not only adds strong earnings underpinned by valuable hotel assets, but is also well-timed to capitalise on recent strong growth in Portugal’s tourism market.

Tivoli Hotels and Resorts, Portugal

The acquisition was completed in separate stages over the course of more than 12 months under highly challenging circumstances, highlighting MHG’s strong, multijurisdictional deal execution capability.

This final transaction follows MHG’s acquisition in 2015 of five Tivoli hotels in Portugal and two Tivoli hotels in Brazil, along with the Tivoli brand in Brazil. This now gives MHG the opportunity to expand the reach of the Tivoli brand into its other areas of operation including the Middle East, Africa and Asia.

 In addition MHG intends to fully capitalise on Tivoli’s strong asset portfolio by investing further in the Tivoli hotel assets to further enhance the positioning of the brand across its markets.

Tivoli Hotels and Resorts, Portugal

This final stage of the brand’s acquisition comprises seven hotels in Portugal: in the country’s capital, the 119-key Tivoli Jardim Lisboa Hotel; the 77-key Tivoli Sintra Hotel in the UNESCO World Heritage Site of Sintra, and the 30-key Tivoli Palácio de Seteais to the west of Lisbon; in the Algarve, one of Europe’s premier tourism destinations, the 324-key Tivoli Lagos Hotel Beach Club & Golf; the 280-key Tivoli Victoria Vilamoura Golf Resort Conference & Spa; The Residences at Victoria Clube de Golf which has 88-keys, plus the 100-key Tivoli Coimbra Hotel in historic Coimbra north of Lisbon.

These seven properties are part of the overall Tivoli portfolio of 14 hotels, totalling 12 in Portugal and two in Brazil, with almost 3,000 keys in total. 

Dillip Rajakarier, COO of Minor International and CEO of Minor Hotel Group, commented, “We are excited to add Tivoli to Minor Hotel Group’s portfolio of hotel brands.

Dillip Rajakarier
“With over 80 years of history, the Tivoli brand brings with it a rich heritage, a highly experienced team and a deeply loyal customer base. 

"The Tivoli acquisition further cements MHG’s position as a world-class hotel operator, with a portfolio now extending to Europe and South America. Looking forward, we have already planned further investment into the Tivoli hotel assets and its operating and distribution infrastructure to realise the full potential of this strategic investment.”

The Tivoli acquisition is the latest in a series of international investments by Minor Hotel Group as part of its long term diversification strategy, which over the last two years has seen the group invest over USD 550 million in hotel projects in Southern and East Africa, Asia, Australia, South America and Europe.

 These investments include, in addition to Tivoli, a joint venture with Sun International, new hotel projects in Australia and Malaysia and investments with existing joint venture partners Rani Investment and Elewana Collection in Southern and East Africa.

With these additional Tivoli hotels, MHG’s overall hotel portfolio now totals 145 properties across 22 countries. Tivoli is a member of Global Hotel Alliance, to which three of MHG’s existing brands – Anantara, AVANI and PER AQUUM – also belong.

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

Hwee Peng Yeo
Vice President, Asia Markets
Glodow Nead Communications
San Francisco • New York • Singapore • Shanghai
Level 21, Centennial Tower, 3 Temasek Avenue • Singapore 039190
Level 15, One Corporate Avenue, 222 Hubin Road, Shanghai China, 200021
1700 Montgomery Street, Suite 203 • San Francisco, CA • 94111
Asia: 65.9768.6087  US:415.394.6500 • E:

Centennial Tower 21层,Temasek Avenue 3号, 新加坡邮区039190

Berger Commercial Realty Closes Sale of Pompano Beach, FL Office Building for $460,000

Office Building Dixie Highway and U.S. 1, Pompano Beach, FL

Greg Milopoulos

FORT LAUDERDALE, FL (Feb. 3, 2016) - Berger Commercial Realty brokers Steve Hyatt and Greg Milopoulos recently facilitated the sale of a Pompano Beach office building for $460,000. Hyatt represented KMG Holdings, LLC in the purchase of the 3,297-square-foot building from Harry D. Dennis Jr., who was represented by Milopoulos.

 "In a market with limited available assets, property owners are willing to pay a slight premium for potential long-term assemblage. Therefore, this deal was particularly rewarding for both parties," said Milopoulos.

Situated on a 6,098-square-foot lot just east of Dixie Highway and west of US1, the single story office building provides convenient access to I-95 and A1A, as well as Pompano Beach Airpark, local restaurants and beaches.

"Its location offers ideal exposure on Atlantic Boulevard and is easily accessible from anywhere in Broward County," said Milopoulos. 

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

Lexi Robinson, ext. 255,
Marielle Sologuren, ext. 226,

Crossman & Co. Negotiates Two New Leases at Paradise Shoppes at Apollo Beach, FL

Sandra Woodworth
 Apollo Beach, FL --- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently negotiated two new long-term leases at Paradise Shoppes at Apollo Beach on N. U.S Highway 41.

Senior Leasing Associate Sandra Woodworth negotiated both transactions on behalf of the landlord of the Publix-anchored shopping center. 

Tampa General Medical Group leased 4,545 square feet and Sweet Rose Photography leased 450 square feet.   DeLaVergne & Company represented Tampa General Medical Group in the transaction. 

Other major tenants at the 109,756 square foot Paradise Shoppes at Apollo Beach include Beef O’Brady’s, Trustco Bank and Verizon Wireless. 

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

Beth Payan Larry Vershel Communications, 407-644 4142 or 407-461 3781

TerraCap Management Buys Bailey Park in Kennesaw, GA for $18.3 Million in first Georgia Acquisition

Steve Good

 ATLANTA, GA (Feb. 3, 2016) – Private equity fund manager, TerraCap Management, LLC, has purchased Bailey Park, a five-building 198,475-square-foot industrial/flex park located in Kennesaw, Georgia, for $18.3 million.

The acquisition marks the company’s first transaction outside the state of Florida where it has amassed an impressive portfolio of office properties and commercial assets valued at over $300 million.

“We are excited to expand outside of the state of Florida and diversify our footprint with the acquisition of Bailey Park,” said Steve Good, partner of TerraCap. 

“We view Atlanta as a favorable market with a lot to offer tenants. The growing employment rate, number of people relocating to the area and access to one of the country’s top airports make Atlanta attractive for industrial/flex users.” 

The property, located on Cobb Place Boulevard amongst high-end residential neighborhoods and sought-after amenities, features 12’, 14’ and 18’ clear heights; grade level and dock high loading; easy ingress and egress to major roadways; surface parking with 4.5 spaces per 1,000 RSF; and an attractive, heavily maintained landscape.

Tony Bartlett
Lincoln Property Company (Lincoln) has been hired to provide leasing and management services to the park, which is currently 80 percent leased. 

“We seek to align ourselves with strong third party service companies, and we are pleased to expand the relationship with Lincoln as they currently manage and lease a sizeable portfolio for us in Orlando,” Good said.

 “We look forward to working with TerraCap as the company continues to seek well-located, value-add opportunities throughout the state,” said Tony Bartlett of Lincoln. 

“We are impressed with the entire TerraCap team and they have a well-defined strategy for property-level execution and further, penetrating the Atlanta market with complementary acquisitions.”  

Tom Shafer of CBRE represented J.W. Richardson Enterprises Inc., the seller, in the transaction.

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

Savannah Durban
The Wilbert Group

Mortgage Bankers Association Honors Cathy Pharis with 2016 CREF Distinguished Service Award

Rodrigo Lopez
ORLANDO, FL -- The Mortgage Bankers Association (MBA) has awarded Cathy Pharis, Managing Director and Head of FHA Platform for Wells Fargo Multifamily Captial (WFMC), Wells Fargo Bank, N.A., with the 2016 Commercial Real Estate Finance (CREF) Distinguished Service Award at the Association's 26th annual CREF/Multifamily Housing Convention & Expo held in Orlando, FL.

“Cathy was instrumental in redesigning the MBA Multifamily Steering Committee to incorporate MBA members from all multifamily capital sources,” said Rodrigo Lopez, CMB, MBA Chairman-Elect and Executive Chairman of NorthMarq Capital Finance, L.L.C.

 “Cathy chaired MBA’s FHA Task Force in 2011-2012, where she was key in shaping MBA’s recommendations to FHA, virtually all of which were accepted to enhance efficiencies and for more training.”

Pharis is the head of the FHA Platform for Wells Fargo Multifamily Capital (WFMC). In that role, she is responsible for overseeing the origination and underwriting of all projects financed by WFMC using HUD’s mortgage insurance programs. 

Prior to joining Wells Fargo in 2009, Pharis was with Deutsche Bank Berkshire Mortgage, Inc. (including predecessor companies) for over 25 years.

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

Ali Ahmad
(202) 557-2727

W Financial Provides $10 Million Bridge Loan for Planned Five-Unit Condominium Building on Manhattan’s Upper East Side

Planned Five-Unit Condominium Building, East 64th Street,
Upper East Side, Manhattan, NY

David Heiden
NEW YORK, NY --  W Financial has provided a $10,000,000 bridge loan collateralized by a multi-family building located on East 64th Street on Manhattan's Upper East Side.

The developer, a repeat borrower, utilized W Financial in order to be able to acquire the property in less time than would have been possible if he had financed the project with a conventional lender.

The finished product will be a new, high-end, five-unit condominium building. It is expected that W's loan will be repaid with a traditional construction loan. W's borrower is an experienced developer who has an expertise in creating significant value with this type of property.

W will also consider providing re-hab and construction loans for experienced developers, as well as mezzanine financing on well-located, cash-flowing properties.

Call me, or contact our Senior Loan Officer, Jarret Schochet |
 at (212) 684-2205, or contact my partner David Heiden |
 (212) 684-8484 to discuss your new loan scenarios.

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

Gregg Winter - Founder & Managing Partner
W Financial Fund, LP
Special Situation Financing for Commercial Real Estate ®

149 Madison Avenue, Seventh floor
New York, NY 10016
Phone: 212 532-1122 x1

recent news: