Thursday, June 23, 2016

Bull Realty Brokers $6.2 Million Office Building in Duluth, GA

Paul Zeman
 ATLANTA, GA (June 23, 2016) — Healthcare Real Estate Services at Bull Realty brokered the sale of Satellite Place Building 2200, a 56,903 SF office building located in Duluth, GA. The sale closed on June 21, 2016 for $6.2 million.

The property is 100% occupied by National Vision, Inc. Paul Zeman with Bull Realty was chosen to market the property exclusively by the seller, TCG Commerce Holdings, LLC. The buyer was Stage Acquisitions, an affiliate of Skokie, IL based Stage Equity Partners. 

"This property serves as the corporate headquarters for National Vision and will prove to be an outstanding long term hold for Stage," said Zeman.

Healthcare Real Estate Services ( are specialty brokers with Bull Realty, Inc. (, a U.S. commercial real estate brokerage and advisory firm headquartered in Atlanta, licensed in nine states providing acquisition, disposition, leasing and advisory services.

The firm also produces and hosts the nationally-syndicated Commercial Real Estate Show ( The popular weekly show is broadcast on radio stations nationwide, iTunes, YouTube and
For a complete copy of the company’s news release, please contact:

Melissa Henry
Communications Manager
Bull Realty, Inc. 

404-876-1640 x 110

RealtyTrac Reports 18 Percent of U.S. Housing Markets Less Affordable Than Historically Normal Levels in Second Quarter 2016

Daren Blomquist
IRVINE, CA, June 23, 2016 — RealtyTrac® (, the nation’s leading source for comprehensive housing data, today released its Q2 2016 Home Affordability Index, which shows that 18 percent of U.S. county housing markets were less affordable than their historically normal levels in Q2 2016, up from 5 percent of markets in the previous quarter but down from 20 percent of markets exceeding historically normal home affordability levels a year ago.

 “Although nearly one in five U.S. housing markets was not affordable by historic standards in the second quarter, the good news is that affordability is improving compared to a year ago in the majority of markets thanks to a combination of slowing home price appreciation and accelerating wage growth, along with falling interest rates,” said Daren Blomquist, senior vice president at RealtyTrac.

“The average interest rate on a 30-year fixed rate mortgage is down 37 basis points from a year ago, while annual wage growth accelerated compared to a year ago in 72 percent of the markets we analyzed and annual home price growth slowed compared to a year ago in 68 percent of the markets, including bellwether markets such as Los Angeles County, Miami-Dade County, Brooklyn, Dallas County, and San Francisco County.”

  For a complete copy of the company’s news release, please contact:
Jennifer von Pohlmann
Sr. Public Relations Manager
Office: 949.502.8300 ext 139

HFF arranges financing totaling $46.2 million for two multi-housing communities in Plano, TX

Mona Carlton
DALLAS, TX, June 23, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged financing totaling $46.2 million for Summer Meadows and Summers Crossing, two garden-style multi-housing communities totaling 683 units in Plano, Texas.

HFF worked exclusively on behalf of the borrower, an affiliate of Milestone Apartments Real Estate Investment Trust (Milestone), to place two 10-year, fixed-rate loans with Lincoln Financial.  Loan proceeds were used to refinance existing debt on the properties.

Summer Meadows is situated on 21.62 acres at the southeast corner of Spring Creek Parkway and Ohio Drive, just east of the $2 billion Legacy West mixed-use development. 

Situated on 15.71 acres, Summers Crossing is located at the corner of Preston Road and Dexter Drive to the north of the President George Bush Turnpike.  Both properties provide convenient access around the Dallas-Fort Worth Metroplex via major transportation arteries, including State Highway 121, Dallas North Tollway, President George Bush Turnpike and U.S. Highway 75.

Michael Cosby
 Both garden-style assets offer a mix of one- and two-bedroom floor plans with a combined occupancy of approximately 95 percent.  

In addition to a prime location in one of Greater Dallas’ best school districts, the communities offer amenities such as clubhouses, swimming pools, hot tubs, fitness centers and covered parking.

HFF’s debt placement team representing Milestone was led by senior managing director Mona Carlton and associate director Michael Cosby.

  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 |

HFF closes $8.42 million sale of Las Vegas Sprouts Farmers Market store

David Zacharia
 NEWPORT BEACH, CA, June 23, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $8.42 million sale of a single-tenant, 57,794-square-foot building fully leased to Sprouts Farmers Market in Las Vegas, Nevada.

HFF marketed the property on behalf of the seller, Haggen Property Holdings, LLC.  ValueRock Realty Partners out of Irvine, California, purchased the asset.  This is now the second Sprouts location owned by ValueRock.

Situated on 7.14 acres at 7530 West Lake Mead Boulevard, the location provides easy access to Interstate 95 and is set between the affluent Summerlin community and the Las Vegas Strip.

 The property benefits from a dense population of more than 410,000 residents within a five-mile radius and it has frontage along Lake Meade Boulevard, which sees approximately 39,805 vehicles per day.

The HFF investment sales team representing the seller was led by Nick Foster in conjunction with local Nevada broker David Zacharia of DZ Net Lease Realty, LLC.

“This was an exceptional opportunity to own an extremely well-located retail property leased to one of the nation’s top-performing grocery operators on a long-term basis,” Foster said.

  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 |

29th Street Capital Expands Into Orlando; Firm Hires Bill McConaghy to Seek Value-Add Apartment Deals in Central and South Florida

Bill McConaghy
Orlando, FL (June 23, 2016) – Bill McConaghy has joined 29th Street Capital (29SC) as Vice President of Multifamily Acquisitions for Florida.

 McConaghy is responsible for all facets of the privately-held real estate investment and advisory firm’s multifamily acquisitions and asset management strategies in the state.

His first task will include helping 29SC expand into the Orlando market, acquiring value-add apartment communities there, and in Central and South Florida.

“We are extremely excited to have Bill join us and expand our national footprint by opening our tenth office,” said 29th Street Capital Managing Director Robert Bollhoffer.

“Bill has many years of experience in the Florida market and a great fundamental understanding of the multifamily acquisition and management process. 

"We look forward to growing our platform in Florida with him and bringing our investors the types of transactions that they have come to expect from our group.”

McConaghy is a 13-year veteran of Florida’s commercial real estate market. Most recently, he was President of his own consulting and brokerage firm, Strategic Acquisition Initiatives, Inc.

His duties included serving as Vice President of Economic Development at consulting firm Strategic Development Initiatives, Inc., or SDI, where he worked on CRA economic policy and Public Return on Investment (PROI) model development and underwriting analysis.

Robert Bollhoffer
 He also led a multi-million dollar industrial acquisition fund for another client. Before that, he spent two years as Assistant Vice President of Acquisitions for private equity fund Laramar, where he was instrumental in creating a Florida acquisition strategy resulting in the addition of almost $200 million of multifamily properties and bank notes to the firm’s portfolio. 

“What an amazing opportunity to join this emerging entrepreneurial team,” McConaghy said. “29th Street Capital is focused primarily on value-add multifamily acquisitions. We are starting with Central Florida and surrounding areas and are open to all major and secondary Florida markets for the right opportunity.”

In addition to sourcing and completing acquisitions, his responsibilities at 29SC will include complete oversight of the projects inclusive of selecting third-party management, overseeing all capital projects, marketing/design and dispositions.

Formed in 2009, 29SC is a privately-held real estate investment and advisory firm that employs a value-added investment strategy on properties that are below the radar of institutional peers. 29SC’s current portfolio consists of 6,000 units and it has acquired over 7,400 units across its nine offices in the U.S. Investments typically require approximately $2 to $12 million of equity per deal, and involve the acquisition or recapitalization of real estate assets, portfolios or platforms.

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

Terri Thornton
Partner, Thornton Communications
p:404-932-4347 | |

Richard Stanard Joins Capital Square 1031 as Chief Financial Officer

Richard Stanard
RICHMOND, VA (June 23, 2016) - Capital Square 1031, LLC, a leading sponsor of replacement property for Section 1031 exchanges, announced today that Richard Stanard has joined the firm as chief financial officer.

Stanard joins Capital Square 1031 from HITT Contracting Inc., located in the Northern Virginia/D.C. area, where he spent 13 years as chief financial officer and treasurer.

During his tenure, he was responsible for finance, accounting and treasury operations during a period of quick growth, raising annual revenue to $1 billion from $200 million. Additionally, he helped create a privately-owned commercial real estate portfolio with a total capitalization in excess of $700 million.

“Rick is a consummate professional with more than three decades of real estate experience in finance, capital and treasury operations,” said Louis Rogers, founder and chief executive officer of Capital Square 1031.

 “Rick joins Capital Square 1031 during a period of rapid growth, when key systems are being development for the acquisition, finance, management and ultimate sale of upwards of a billion dollars of real estate. Rick has established a long and successful track record of success throughout his career.  I couldn’t be happier to welcome him to the Capital Square team.”

Louis Rogers
Prior to HITT, Stanard served as vice president of financial services at The Robert Martin Company, a private real estate owner, developer and manager with more than seven million square feet of mixed New York commercial property.

While with the firm, Stanard supervised accounting, finance and IT operations. Previously, Stanard was a treasurer with First Winthrop Corporation (FWC) in Boston, responsible for a six-million-square-foot acquisition and syndication valued at $757 million, and $336 million of private equity.

Prior to FWC, Stanard was the project controller and regional director at Urban Investment and Development in Boston, where he was responsible for a $600 million mixed-use real estate development project, among others. Stanard also spent time as a senior management consultant with Arthur Young & Co., now Ernst & Young.

He earned dual bachelor’s degrees with honors in accounting and finance from Southern Illinois University.

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

Julie Leber
Spotlight Marketing Communications
949.427.5172, ext. 703

Lexington Homes Kicks Off Sales At Park Ridge Reserve, A Gated Townhome Community In Park Ridge, IL

Park Ridge Reserve, Park Ridge, IL
 CHICAGO (June 23, 2016) — Following on the heels of quick sales at Park Ridge Place, its gated community of 16 townhomes in the upscale suburb of Park Ridge, Lexington Homes has announced it will begin pre-construction sales on 25 additional townhomes at Park Ridge Reserve

Construction will begin in July with first deliveries scheduled for early 2017.

Located at 1200 W. Elm Street, Park Ridge Reserve is conveniently located less than a mile from downtown Park Ridge, a thriving retail district that consists of a variety of restaurants, shops, the Park Ridge Public Library, Metra station and the historic Pickwick Theatre. 

Jeff Benach
Park Ridge Reserve will offer buyers upscale new-construction townhomes with up to three bedrooms priced from the $370,000s. By comparison, many single-family homes in the suburb are priced well over $1 million.

Only 15 miles from downtown Chicago, Park Ridge offers small-town charm with the convenience of city living. It’s consistently ranked high in the best places to live and recently tied for first place in Movoto’s “10 Best Chicago Suburbs To Live In.”  

“Park Ridge is one of those rare Chicago suburbs that is close to just about everything,” said Jeff Benach, co-principal of Lexington Homes.

“Not only is Park Ridge Reserve within walking distance to Park Ridge’s bustling downtown, but you also can be at O’Hare International Airport in less than 10 minutes. The shopping and entertainment destinations in the Rosemont entertainment district and downtown Chicago are also just a short drive.”

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

Kelly Shumaker,, (312) 267-4519

Kim Manning,, (312) 267-4527

Atlantic | Pacific Companies and Blue Arch Advisors Close $120 Million Fund for Multifamily Investments

Greg Ward
MIAMI, FL, June 23, 2016  – Atlantic | Pacific Companies (A|P) and Blue Arch Advisors announced today the closing of their co-sponsored fund, Blue Atlantic Partners, which will focus on investing in existing multifamily communities in the Southeast and Southwest U.S.

The fund closed with $120 million of equity capital commitments which together with anticipated leverage is expected to have buying power of over $350 million. Investors in the fund include institutions and high net worth individuals from the U.S. and overseas.

“We received commitments from partners who were looking for an operating partner in the multifamily space with long and successful track record of property management and long term value creation" said Greg Ward, Managing Partner with the fund from A|P.

The fund's strategy will be to purchase existing multifamily communities that can benefit from A|P’s property management expertise and value add/renovation program. The fund's target locations are affluent suburbs of major cities in the Southeast and Southwest U.S.

Gil Hermon
"We are grateful for the support from our investors and very excited with our pipeline of investment opportunities," said Gil Hermon, Managing Partner with the fund from Blue Arch Advisors.

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

Jessica Wade Pfeffer, President
7100 Biscayne Blvd., Suite 306A | Miami, FL 33138
Office +1.305.456.0483 | Cell +1.305.804.8424
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Wyndham Hotel Group Expands in Europe with First Hotel in Greece

Daniel Ruff
ATHENS, GREECE (June 23, 2016) – Wyndham Hotel Group, the world’s largest hotel company based on number of hotels, today announced that accessible luxury is coming to Athens when the Wyndham Grand Athens, the first Wyndham Hotel Group hotel in Greece, opens in the city centre early next year.

Travel is the best excuse to enjoy the grand things in life, and Wyndham Grand hotels and resorts offer truly unforgettable travel experiences.

Dan Ruff, President and Managing Director EMEA, for Wyndham Hotel Group, said: “Wyndham Grand hotels are located in some of the world’s most sought after destinations, including Shanghai, Istanbul, Doha, Salzburg, Chicago, Orlando and now Athens.

“ This is only our first stop in Greece, as we see opportunities for many of our brands across the country, from city centres such as Athens and Thessaloniki to resort destinations in the Greek islands and mainland.”

Haris Siganos, Founder of Zeus International, noted: “Our Company is engaged in a variety of consulting and advisory projects from hotel management and development to turnaround management.

Haris Siganos
“ We have been monitoring the Greek market for the right hospitality investment opportunity. 

"We believe that Athens has been missing a flagship hotel offering a one-of-a-kind experience with a compelling local flavour, and we intend to change this when the Wyndham Grand Athens opens next year.”

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

Melina Dimitriou or Marina Leonidhopoulos
Out of the Box
T: +30 210 687 7590

RAF Pacifica Group Announces New Ground-UP Development of Two State-of-the-Art Industrial buildings in Carlsbad Raceway Business Park in San Diego County, CA

Carlsbad Raceway Business Park, San Diego County, CA

Adam Robinson
SAN DIEGO, CA (June 23, 2016) – RAF Pacifica Group, a privately held owner, operator, and developer of commercial real estate, has acquired 18.4 acres of land within the Carlsbad Raceway Business Park, on which the firm plans to build two state-of-the-art distribution buildings totaling 272,430 square feet, according to Adam Robinson, Principal of RAF Pacifica Group.

“Carlsbad’s significant growth in the technology, distribution, and manufacturing sectors is increasing demand for quality industrial space well beyond the market’s existing vacancy of just 3.7 percent in all of San Diego County,” explains Robinson.

“We recognize the potential in this market, and are one of the first to capitalize on this growing demand by developing quality industrial product that supports the needs of industrial users.”

The firm’s planned development project, which will be known as “dis·trib·ute,” will be divisible down to 10,000 square feet and designed to accommodate a vast array of businesses, with a modern aesthetic and high-tech amenities to optimize efficiency, according to Robinson.

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

Katie Kea / Jenn Quader
Brower, Miller & Cole
(949) 955-7940