Monday, August 8, 2016

Lincoln Harris Brokers Two Office Leases in Raleigh, NC

Kaler Walker
RALEIGH, N.C. (Aug. 8, 2016) — Lincoln Harris office has secured two office leases in Raleigh, North Carolina. The details of the transactions are below:

·      Bio-Tech Prosthetics and Orthotics of Raleigh, Inc., signed a 3,182-square-foot lease at Sunset Ridge I, a 15,000-square-foot building located at 3909 Sunset Ridge Drive.

Kaler Walker of Lincoln Harris represented the landlord, Velocis Sunset, L.P., in the transaction and David Peterson of Sperry Van Ness/HPW Commercial represented the tenant.

·      CIC Construction Group signed a 1,542-square-foot lease at 5540 Centerview Drive, an 88,674-square-foot building. John Mikels and Walker of Lincoln Harris represented the landlord, True North Management Group, in the transaction, and Patrick Blackley of Trinity Partners represented the tenant.

Through its affiliation with Lincoln Property Company, Lincoln Harris provides clients with a national platform and unparalleled institutional resources including more than 6,800 employees in 47 administrative offices across the nation.

John Mikels

The company manages more than 150 million square feet and last year completed more than $2 billion in real estate transactions on behalf of clients.

Lincoln Harris team members take pride in developing and implementing comprehensive national real estate programs for their clients and cultivating a sense of trust in the communities they serve and the individual transactions they service.

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

Savannah Durban
The Wilbert Group

Lincoln Property Company Secures Two Leases Totaling 128,000 Square Feet at Westridge Logistics Center in McDonough, GA

Denton Shamburger
ATLANTA, GA (Aug. 8, 2016) – Lincoln Property Company Southeast (Lincoln) has secured two industrial leases totaling just over 128,000 square feet at Westridge Logistics Center, located in the South Atlanta submarket of McDonough, Georgia.

Denton Shamburger of Lincoln represented Hillwood (Landlord) in both transactions. Details are below:

A company has signed a 14,918-square-foot expansion in Building 100. The company now leases 30,090 square feet at the building.

Another company has renewed its 113,104-square-foot lease in Building 200. Transwestern and E. Smith Realty represented the tenant.

The two-building Westridge Logistics Center was built in 2007 and totals 324,112 square feet. The rear loading project features a high dock door to SF ratio, generous truck courts, trailer storage, close proximity to numerous amenities and boasts two convenient access points to Interstate 75.

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

Savannah Durban
The Wilbert Group

Marcus & Millichap Arranges Sale of Aaron’s in Idaho Falls, ID

Barry M. Wolfe
IDAHO FALLS, ID, Aug, 8, 2016 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Aaron's, a 10,000-square foot net-leased property located in Idaho Falls, ID, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office.

“Aaron’s is a well-respected retailer and investors recognize the stability of the brand,” says Barry M. Wolfe, a first vice president investments in Marcus & Millichap’s Fort Lauderdale, Fla. office. “Our team has facilitated the sale of over 100 Aaron’s properties over the last 10 years and currently we are marketing three more locations.”

Wolfe, along with, Alan Lipsky, associate, in Marcus & Millichap’s Fort Lauderdale office and Paul H. Ryan, senior associate, in Marcus & Millichap’s Boise, ID office had the exclusive listing to market the property on behalf of the seller, a developer Cortez, CO and the buyer, a limited liability company from Dallas, TX.

Aaron's is located at 1385 East 17th Street in Idaho Falls, ID just one mile from Eastern Idaho Technical College, four miles from the University of Idaho and five miles from Idaho Falls Regional Airport.

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

Ryan Nee
Vice President / Regional Manager,
 Fort Lauderdale, FL

(954) 245-3400

HFF closes $15.85 million sale of Los Angeles-area neighborhood shopping center

Home Ranch Center, Yorba Linda, CA

CJ Osbrink
NEWPORT BEACH, CA, Aug. 8, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $15.85 million sale of Home Ranch Center, a 54,169-square-foot, value-add neighborhood shopping center in the affluent Orange County community of Yorba Linda, California. 

HFF marketed the property on behalf of the seller, YL Friends Church.  The buyer is a private real estate investment group out of Beverly Hills, California.

Situated on 4.9 acres at 18601-18659 Yorba Linda Boulevard, the center is in an infill location surrounded by an affluent demographic of more than 104,480 residents living within a three-mile radius with an average annual household income of over $122,800. 

Just north of Anaheim in the northeastern part of Orange County, the center’s Yorba Linda location puts the center in one of CNN’s “Best Places to Live” and one of Money Magazine’s “America’s Best Small Cities.”

 Home Ranch Center comprises three buildings that are home to national and regional tenants, including Blue Agave; Edible Arrangements; Dr. John Kim, DDS; Luxe; State Farm Insurance; KC Salon; YL Family Chiropractic; Crepe Maker and Papa John’s. 

Gleb Lvovich
The HFF retail investment sales team representing the seller was led by CJ Osbrink and Gleb Lvovich out of the HFF Orange County office.

“With an attractive submarket vacancy of roughly seven percent, very high barriers-to-entry and affluent demographics, this opportunity was incredibly appealing to investors who saw the immediate upside through the lease-up of the available anchor space, formerly occupied by Jo-Ann Fabrics,” Osbrink said.

 “Today, more than ever, we are seeing a much higher demand for value-add retail properties in dense and affluent locations.”

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

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

Universe Holdings Acquires Controlling Interest of $41 Million Acacia Park Apartment Community in San Bernardino, CA

Henry Manoucheri
Los Angeles, CA – Universe Holdings (Universe), a privately-held multifamily real estate investment firm, has acquired controlling interest and full ownership of the Acacia Park apartment community in San Bernardino, California from its special service partner following a strategic recapitalization structured by HFF.

The asset, today valued at $41 million, is now positioned for long-term hold after Universe fulfilled its obligations to its original lenders and equity partners.

“Universe Holdings prides itself on its long-term commitment to its assets, lenders, partners and investors. 

"Our platform has proven its ability to weather the ups and downs of market cycles through astute investments, hands on management and financial ingenuity,” said Henry Manoucheri, Founder and CEO of Universe.

“Acacia Park is an asset that was severely impacted by the recession in 2009. We worked diligently with the special servicer assigned to the property at that time to craft a plan that would allow Universe to operate the asset through the crisis.

“This plan and continued collaboration resulted in a financial outcome that returned in full to our original CMBS lenders on the property while securing 100 percent ownership of a prime asset in our portfolio.”

Charles Halladay
Universe Holdings was represented in the transaction by an HFF team led by Mr. Charles Halladay. Universe acquired Acacia Park with a substantial new privately raised equity commitment paired to a 10-year fixed rate loan through Freddie Mac.

The strategic recapitalization was the culmination of a nearly six year turnaround plan developed for an asset hit hard by vacancies and declining rents during the financial and housing crisis of the late 2000s.

Universe Holdings, working with special servicer LNR Partners, developed a structured plan to stabilize Acacia Park, maintain debt service while transferring some principal to equity, and manage the asset forward to a final resolution through sale or refinance by August 2016.

This plan allowed Universe to return Acacia Park to 95 percent occupancy with significant improvement in rents and cash flow, raising the property’s appraised value from $22.5 million in 2009 to $41 million in today’s market.

  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 secures $155.83 million financing for development of luxury apartment tower in Jersey City, NJ

Rendering of Planned 90 Columbus Apartments, Marin Boulevard and Steuben Street,
Grove Street District,  Jersey City, NJ

FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $155.83 million in financing for the development of 90 Columbus, a 539-unit, 50-story, Class A apartment tower in Jersey City, New Jersey.

HFF worked exclusively on behalf of Ironstate Development and Panepinto Properties, Inc. to secure the construction loan through a national commercial bank.  This transaction follows the announcement of permanent financing that HFF procured for the adjacent 50-story apartment tower at 70 Columbus in March 2016 through Northwestern Mutual Real Estate.

Thomas Didio
90 Columbus is positioned at the corner of Marin Boulevard and Steuben Street in Jersey City’s Grove Street District.  

The property is part of a multi-phase development, which also includes the 400-unit, Costas Kondylis-designed 50 Columbus apartment building; 50-story, luxury residential tower 70 Columbus; soon-to-be-completed, 152-room Marriott Residence Inn at 80 Columbus; and on-site shared parking. 

Due for completion in 18 months, 90 Columbus will feature studio, one- two- and three-bedroom luxury residences averaging 789 square feet each. 

 The property will include 7,500 square feet of indoor amenity space featuring a swimming pool, grilling areas, indoor and outdoor children’s play areas, dog run, sport court, table tennis room, library and Wi-Fi lounges.  

Residents will also have access to the amenity package at 50-70 Columbus, including membership at the 30,000-square-foot BASE Fitness.

90 Columbus shares its design, conceptualized by world-renowned architecture firm Gwathmey, Siegel, Kaufman and Associates (GSKA), with neighboring 70 Columbus. 

The transit-oriented property will include on-site access to the Grove Street PATH Station providing direct access into downtown Manhattan, as well as a 15,000-square-foot grocer on its ground floor.  Surrounded by the Paulus Hook, Newport and Power House neighborhoods, 90 Columbus will offer expansive views of the Manhattan skyline, Hudson River, Statue of Liberty and New York Harbor.

The HFF debt placement team representing the borrower was led by senior managing director Thomas Didio.

 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 |

$45 million financing for 304-unit apartment community in suburban Denver, CO arranged by HFF

360 Degrees is the name of this 304-Unit Class A apartment community in Centennial, CO

Travis Anderson
CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $45 million in permanent financing for 360º, a 304-unit, newly-built Class A apartment community in the southeast Denver suburb of Centennial, Colorado.

HFF worked exclusively on behalf of an institutional investor to secure the seven-year, 2.98 percent fixed-rate loan through a life company lender.

360º consists of two four- and five-story, wrap-style apartment buildings and a five-story, 439-space parking garage.

Situated on 3.9 acres at 7700 East Peakview Avenue, the property is just west of Interstate 25 in the heart of one of Denver’s primary office markets offering access to more than 33 million square feet of office space in the Denver Tech Center and Greenwood Plaza employment hubs.

In addition, the transit-oriented property is less than a mile from the Arapahoe at Village Center light rail station and accessible to numerous retail centers within a three-mile radius.

Completed in two phases in January 2015 and January 2016, the 360º has studio, one- and two-bedroom floor plans featuring granite countertops, kitchen islands, stainless steel appliances, soaking bathtubs and stand-up showers, wood-style plank flooring, oversized windows and in-unit washers and dryers. 

Josh Simon
Community amenities include a resort-style swimming pool and hot tub; rooftop lounge and resident clubhouse with indoor kitchen and fireplace; courtyard with grilling areas; state-of-the-art athletic center;  library; business center; billiards and shuffleboard; dog washing station; and bike repair workshop.

The HFF debt placement team representing the borrower was led by senior managing director Travis Anderson and managing director Josh Simon.

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 |