Wednesday, February 17, 2016

McCue Builders Begins Construction at Hunt Club of Oswego in Oswego, IL

  
Hunt Club of Oswego, Oswego, IL


CHICAGO, IL  (Feb.  17, 2016) — Yorkville, Ill.-based McCue Builders, a family-owned homebuilder with a 20-year history, announced it has begun construction at Hunt Club of Oswego, a 476-acre community located 50 miles southwest of Chicago in Oswego, Ill. Established in 2007, Hunt Club Oswego is a 285-home clubhouse community with 39 remaining home sites to be built by McCue Builders.

“McCue Builders is proud to bring our craftsmanship to such a highly sought-after, idyllic location as Hunt Club of Oswego,” said Billy McCue, president of McCue Builders. “Our exceptional home designs complement Hunt Club’s natural setting, and are perfect for young families, professionals and baby boomers who are seeking a tranquil living experience.”


Kim Grant
Hunt Club of Oswego features acres of open spaces and preserved wetlands. Amenities include a 3,500-square-foot clubhouse with an outdoor zero-depth pool, great room, and fitness center. 

McCue Builders is offering four floor plans, ranging from two-story homes to ranch homes with first-floor masters.

Each home site is roughly one acre, and many overlook a scenic horse farm property, providing beautifully serene views. 

Available floor plans include four to five bedrooms and 2½ to 3½ baths, ranging from 3,600 to 4,500 square feet. 

Several floor plans include lookout and walkout options, as well as optional bonus rooms, finished basements, and chef’s kitchens.

High-end finishes include hardwood flooring, granite kitchen counters, custom staggered cabinetry, upgraded trim, and luxury baths. Pricing for the homes starts in the upper $300,000s.

“With McCue Builders’ quality construction, and the community’s incredible natural setting, homebuyers have an exceptional opportunity at Hunt Club of Oswego,” said Kim Grant, broker at john greene Realtor, who is representing the sale of the available home sites.

For more information on purchasing a home at Hunt Club of Oswego, please contact Kim Grant at 630-251-4244 or kimgrant@johngreenerealtor.com.


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

Julie Liedtke, jliedtke@taylorjohnson.com, (312) 267-4521
Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

 


Berger Commercial Realty Closes $2 Million Sale of Grady's Bar & Grill Site in Fort Lauderdale, FL


Steve Hyatt
FORT LAUDERDALE, FL (Feb. 17, 2016) - Senior Vice President Steve Hyatt of Berger Commercial Realty recently represented Copeland Real Estate Inc. in the $2 million sale of a 38,071-square-foot mixed-use property, formerly Grady's Bar & Grill, to Highlands Equity Investments, LLC at 901, 903 and 915 S. Andrews Avenue.

Located just south of the New River and the new courthouse complex, the property consists of the bar and adjacent land on both sides of Andrews Avenue. 

Located within minutes of I-95, Davie Boulevard and U.S. 1, the property is in close proximity to 3,500 residences recently built or currently under construction in the Tarpon River neighborhood.

Long considered a local dive, Grady's was one of the oldest bars in Fort Lauderdale. Grady Copeland, a Georgia native who hitchhiked to Fort Lauderdale on a vegetable truck in 1933, purchased the bar for $1,200 and opened its doors on New Year's Eve in 1940. Two weeks later, he married Irene Davis Copeland, who helped managed the bar during World War II and the 1950s.

"After Grady's long and colorful history, the second and third-generation owners were ready to retire from the bar business," said Hyatt. "The new owner plans to redevelop the infill site into a mixed-use property for retail and residential uses."

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

 954-776-1999
Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com 

Marcus & Millichap Arranges $1.2 Million Sale of 12-Unit Apartment Building in Miami, FL




12-Unit Apartment Building  between West Flagler Street and NW 7th Street, Miami, FL

 
Evan P. Kristol
MIAMI, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of 95 NW 47th Avenue, a 12-unit apartment property located in Miami, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $1,200,000 representing $100,000 per unit.

            “The property is located between West Flagler Street and NW 7th Street in a busy commercial corridor near the airport. The complex has historically high occupancy and the buyer has an opportunity to realize an upside by increasing rents,” says Alejandro J. Gonzalez, an associate in Marcus & Millichap’s Fort Lauderdale office.

Gonzalez along with Evan P. Kristol, a senior vice president investments, and Felipe J. Echarte, a vice president investments, who are also based in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a private investor from Hialeah, Fla., and the buyer, a private investor from Miami.

The apartment building was constructed in 1963 and sits on a 0.28-acre lot. It is comprised of two efficiencies and 10 one-bedroom/one-bathroom units.

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

Ryan Nee
Regional Manager
 Fort Lauderdale, FL

(954) 245-3400

ConAm Group Announces Final Closing of its Multifamily Investment Fund with $120 Million in equity Commitments


Rob Singh
SAN DIEGO, CA – The ConAm Group (ConAm) has announced the final close of its fund, the ConAm Multifamily Acquisition Fund, which completed its $120 million capital raise, according to Rob Singh and Bob Svatos, Co-Presidents of ConAm.

“With a strong group of private investors, we were able to secure equity commitments and complete the capital raising for the fund in record time,” says Singh. “We expect to deploy Fund capital into approximately $400 million in multifamily properties, generally in Western U.S. markets.”

The ConAm Fund has invested approximately 55 percent of the capital through its acquisition of five multifamily properties in 2015, totaling approximately 1,300 apartment units and more than $170 million in asset value.

Fund properties acquired to date represent a geographically diverse portfolio with properties located in Denver, the East San Francisco Bay Area, Phoenix, Las Vegas and the Seattle metropolitan area. ConAm will continue to target well-located multifamily properties with a value-add opportunity for its Fund. 

O’Melveny and Myers, LLP served as counsel to the ConAm Fund and its related entities.

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

Miki Conant or Lexi Astfalk
Brower, Miller & Cole
(949) 955-7940


Lincoln Signs More Than 33,000 Square Feet of Leases at Newly Renovated Lenox Center in Atlanta, Brings Property to 95 Percent Occupancy


Jeff Henson
ATLANTA, GA  – Lincoln Property Company Southeast (Lincoln) has brokered 11 office leases totaling 33,781 square feet at Lenox Center, located in Atlanta, following a sizeable investment into the renovation of the building.

The landlord, HD Realty, is now in the process of completing a $1.3 million lobby renovation, including new tile flooring, new millwork, modern lighting, and a stunning new architectural light fixture that acts as a focal point in the seating area.

Furthermore, all walls have been refinished with an elegant custom feature tile, and a new interactive electronic building directory system has been added.

The 11 recent leases bring the building to 95 percent occupancy. Jeff Henson, Hunter Henritze and George Gwaltney of Lincoln represented the landlord in the transactions.

The details of the transactions are below:

·      Primrose Schools signed a new 10,940-squre-foot lease. Josh Gregory of Colliers International represented the tenant. The Tenant took the entire Terrace Level of the building that had been vacant for over a decade.  A complete renovation and design-build was completed to meet the needs of the Tenant, along with the creation of a full outdoor playground area.


Julie Gudger

·      Carl J Franzman, P.C., signed a 1,995-square-foot lease renewal. Trevor Smith of Cresa Atlanta represented the tenant.

·      The Mutual Fund Store signed a new 1,002-square-foot lease. Frank O'Neill of The Arlington Group represented the tenant.

·      Chapes JPL, LLC, signed a 1,691-square-foot lease renewal. Julie Gudger of Southeast Realty Advisors, Inc. represented the tenant.

·      Midway Insurance signed a 2,428-square-foot lease renewal. Clinton McKellar of Cushman & Wakefield represented the tenant.

·      Legacy Marketing Solutions, LLC, dba Equity Prime, signed a new 1,994-square-foot lease. 

·      Peachtree Offices at Lenox, Inc. signed a 3,918-square-foot lease expansion. Herb Rudd of Southeast Realty Advisors, Inc. represented the tenant.


Christine Gorham

·      Chanco Schiffer, P.C., signed a new 2,450-square-foot lease. Julie Gudger of Southeast Realty Advisors, Inc. represented the tenant.

·      Midway Insurance SF signed a 4,804-square-foot lease expansion. Julie Gudger of Southeast Realty Advisors, Inc. represented the tenant.
  
·      Patrick Ryan King signed a 1,229-square-foot lease renewal. David Dixon of NAI Brannen Goddard represented the tenant.

·      CitySwitch II, LLC, signed a new 1,330-square-foot lease. Beau Terrell of Highgate Partners represented the tenant.


      The Atlanta Women's Foundation signed a new 3,513-square-foot lease. Christine Gorham of Eastwood Real Estate represented the tenant.

·      Auction.com signed a new 2,232-square-foot lease.  Nima Ghomghani with CBRE represented the tenant.

“HD Realty’s investments in Lenox Center are paying off and have pushed the building to near stabilization,” Henson said. 

Nima Ghomghani
“Lenox Center offers a premier location in the heart of Atlanta’s highly desirable Buckhead submarket, an attentive property management team and on-site security guards, all qualities that today’s office tenants are seeking.”

In addition to the lobby renovation, new canopies and tile have been added to the property at the front and rear access points, along with new signage for the building.

The fa├žade has been painted with a modern accent color and new landscaping has been added along Lenox Road to enhance the property’s appearance, along with the planting of new trees in the Primrose playground area.


The parking deck has undergone a complete lighting retrofit with LED fixtures for efficiency and reduced energy consumption.

HD Realty also completed the makeover of six floors during the first half of 2015. A new HVAC system was installed on the Terrace Level along with an entirely new efficient Energy Management System servicing the entire building.

All three elevator cabs also underwent a total renovation with new millwork, flooring, and lighting. Renovations of the three remaining floors will be completed in the first half of 2016.

Lenox Center is located at 3355 Lenox Road within walking distance of Lenox Square Mall and Phipps Plaza, as well as a variety of hotels and fine dining options.

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

Savannah Durban
The Wilbert Group
404-343-0870



HFF secures $200 million credit facility for Abacus Capital Group LLC



Mona Carlton
DALLAS, TX – February 16, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured a $200 million credit facility for Abacus Capital Group LLC (Abacus).  The first asset, which funded into the credit facility is The Point at Perimeter, a two-phase, garden-style multi-housing community totaling 603 units in Dunwoody, Georgia. 

Working on behalf of a fund advised by Abacus, HFF secured the floating-rate credit facility through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.  The loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.

The two phases of The Point at Perimeter, the 365-unit Ashford and 238-unit Dunwoody, operate as separate properties with their own set of amenities, including resort-style swimming pools with sundecks, 24-hour fitness centers, indoor racquetball courts, clubrooms and car care centers.

  Both phases offer a mix of one-, two- and three-bedroom floor plans averaging 934 square feet each.  Situated on 12.172 acres, The Point at Perimeter is located at 100 Ashford Gables Drive, approximately 15 miles north of downtown Atlanta and convenient to Interstate 285, State Highway 400 and Perimeter Mall.  The community is 96 percent leased overall.

The HFF debt placement team representing the borrower was led by senior managing director Mona Carlton.

 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 closes sale of mid-rise apartment community in Hillsboro, OR


                                                                                                (Photo by Red Studio Inc.)

Platform 14 Apartments, 1030 NE Orenco Station Parkway
in the Orenco Station master planned community, 
Hillsboro, OR
                                                                                                                   

PORTLAND, OR – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Platform 14, a 177-unit, podium-style, mid-rise apartment community in Hillsboro, Oregon.

HFF marketed the property exclusively on behalf of the seller, Holland Partner Group and its finance partner.  Invesco Real Estate purchased the asset for an undisclosed amount.

Ira Virden
Platform 14 is situated on approximately 2.34 acres at 1030 NE Orenco Station Parkway in the Orenco Station master planned community within walking distance to Intel, which employs 17,500 people locally.

 Completed in 2012, the four-story, transit-oriented property has 125 one- and 41 two-bedroom units, as well as 11 spacious live and work units with one bedroom/two bath layouts. 

Property amenities include 16,057 square feet of ground floor retail, an 8,000-square-foot sky deck with barbecue, bar and community garden, community kitchen, lounge, bike storage and garage parking.

The HFF investment sales team representing the seller was led by managing director Ira Virden.

 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


SG Contracting Wins 10,000-Square-Foot Renovation at Lutheran Towers in Atlanta, GA

  
 
Lutheran Towers, Atlanta, GA
ATLANTA, GA (Feb. 17, 2016) — SG Contracting, an Atlanta-based general contracting and construction management company, has won an appointment to renovate half of the first floor, approximately 10,000 square feet, at Lutheran Towers, a 16-story independent living facility. The renovation is scheduled for completion in June 2016.

“We are excited to have been selected for this project, as Lutheran Towers is an iconic building located in the heart of Midtown Atlanta,” said Sachin Shailendra, president of SG Contracting. “Seniors housing has been, and will continue to be, a hot property sector as baby boomers continue to age.”

Interior work will include asbestos remediation, and reconfiguration of the entry and reception area, administration offices, public restrooms and elevator lobby. Exterior work will include the replacement of the entry-level storefront, and reworking of 1,500 square feet of existing driveway, sidewalks, and planting areas to ensure ADA access.

Residents have easy access to shops, restaurants, parks, theaters, museums, worship opportunities, MARTA, and medical services in the area.

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

Savannah Durban
The Wilbert Group
404-343-0870 (O) 404-901-4433 (C)


NAIOP South Florida Honored for Education Contributions




MIAMI, FL -- (From left) NAIOP President and CEO Thomas J. Bisacquino, Joyce Werzer of Legacy Bank of Florida, Darcie Lunsford of Butters Realty & Management, 2015 NAIOP South Florida President Traci Miller of Miller Construction Company, NAIOP South Florida Executive Director Jules Morgan and NAIOP Chairman Ashley Powell celebrate NAIOP South Florida’s win in the education category at the Chapter Merit Awards, which recognize the achievements of NAIOP chapters across the nation.

NAIOP is a commercial real estate development organization. It provides strong advocacy, education and business networking opportunities and connects its members through a powerful North American network.


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

Lexi Robinson



MHA Brokers $38.1 Million Sale of Three Apartment Communities in Charlotte, NC

  
Mission Harris Pavilion Apartments, Charlotte, NC


 CHARLOTTE, NC (Feb. 17, 2015) — Multi Housing Advisors (MHA) has arranged the $38.1 million sale of the Middleburg Mission Portfolio located in Charlotte, North Carolina. The 618-unit portfolio consists of three apartment communities built between 1997 and 1999.

Mission Reedy Creek Apartments
Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the seller, Mission Charlotte DST, in the transaction. The properties were purchased by LIV Apartment Partners, LLC.

“Charlotte continues to demonstrate some of the strongest multifamily fundamentals in the country, reaffirming its position as a top market going into 2016,” Robinson said. “This portfolio provides the buyer with a strategic investment in a region poised to provide promising returns for years to come.”



Details of the deals are below:

·        Mission Harris Pavilion, a 249-unit property built in 1997, is located at the intersection of University City Boulevard and Interstate 485 in the University Area. The desirable neighborhood anchored in education and innovation, is situated within minutes of the area’s most dense clusters of employment and retail, including 23 Fortune 500 companies and over 25 energy, research and technology focused companies.


Mission Control Place Apartments
·        Mission Reedy Creek, a 207-unit property built in 1999, is located on East WT Harris Boulevard, a highly travelled thoroughfare that provides convenient access to the nearby employment nodes of Uptown and University City. The established suburb around Mission Reedy Creek is forecasted to grow in population.

·        Mission Concord Place, a 162-unit property built in 1997, is located in a desirable and fast growing city in the Charlotte MSA. It is a highly accessible location tucked off Interstate 85, providing quick access to Charlotte in addition to the Triad and Triangle Regions of North Carolina.

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

Deborah Rogers
Multi Housing Advisors
404.645.7275




Griffin-American Healthcare REIT IV Initial Public Offering Declared Effective by the U.S. Securities and Exchange Commission


  

IRVINE, CA  (Feb. 17, 2016) – Griffin-American Healthcare REIT IV, Inc. today announced that its registration statement pertaining to an initial public offering of approximately $3.15 billion in common stock was declared effective by the Securities and Exchange Commission on Feb. 16, 2016.

Griffin-American Healthcare REIT IV intends to qualify as a real estate investment trust for federal income tax purposes and will offer up to 300,000,000 shares of its common stock for sale at $10.00 per share and up to an additional 15,789,474 shares of its common stock for issuance under its distribution reinvestment plan at $9.50 per share in a publicly registered, non-traded offering.

Griffin-American Healthcare REIT IV intends to invest in a portfolio of healthcare real estate assets, focusing primarily on medical office buildings, senior housing facilities, skilled nursing facilities and hospitals.

A copy of the final prospectus for the offering is available without charge upon written request addressed to Griffin-American Healthcare REIT IV, Inc., c/o Griffin Capital Securities, LLC, 18191 Von Karman Avenue, Suite 300, Irvine, Calif. 92612. Phone inquiries may be directed to (949) 270-9300. The prospectus is available electronically at www.HealthcareREIT4.com.

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

Damon Elder                                                                                       
  (949) 270-9207



American Realty Advisors Acquires Industrial Asset in Central Pennsylvania’s I-81 Corridor

  
Warehouse-Distribution Property, 2 Ames Drive, Carlisle, PA

 
Michael HInes
PHILADELPHIA, PA, Feb.17, 2016 – American Realty Advisors announced the acquisition of a modern, cross-docked bulk warehouse/distribution property located at 2 Ames Drive in Carlisle, Penn. The Class A building, which encompasses 700,000 square feet on over 53 acres, is currently 100 percent leased to a Fortune 50 tenant through 2024.

According to Eric Cannon, American’s Senior Director, Investments, this acquisition will make a great addition to American’s industrial portfolio, as the purchase secures a high-quality, Class A property that features a significant amount of recently-added landlord and tenant improvements.

“This property is an ideal addition to our core industrial portfolio. The center’s great location in a key logistics market, its high quality construction, and the fact that it is fully leased long-term to a credit tenant are three factors that we believe will provide our investors with an attractive current income stream,” says Cannon.

The seller is a joint venture between Dermody Properties and PCCP, LLC, which was represented by Michael Hines and Brian Fiumara of CBRE National Partners.


The facility is located one mile from Interstate 81 at Exit 44 in Carlisle, which is widely considered the hub for super-regional bulk warehousing and distribution within the greater Central Pennsylvania region.

Cannon notes that “the I-78 / I-81 Industrial Corridor has exhibited significant net absorption in the past several years – over 20 million square feet of industrial space was leased from 2014 through mid-2015. 

"This area has become a Tier One East Coast inland market, with top industrial tenants including FedEx, Proctor & Gamble, Nordstrom, Georgia Pacific, and Walmart all occupying distribution space in the Corridor.” 

Brian Fiumara
“This facility provides its tenant easy access to the region’s transportation infrastructure, including highway, intermodal and parcel hubs, to cost effectively distribute goods throughout the entire Northeast region,” said Gene Preston, Partner, Dermody Properties East Region Office.

Acquired by Dermody Properties in 2012, with tenant improvements completed in late-2014, the property features 32’ clear height, full air conditioning, 481 car spaces, 149 trailer spaces, T-5 lighting, and 8,000 amps of power, and was designed and constructed to LEED core and shell standards. 

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

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

Julia Kruper for Dermody Properties
(775) 686-7413