Monday, September 5, 2016

Regency Centers Declares Quarterly Cash Dividend on Preferred Stock


Patrick Johnson
JACKSONVILLE, FL--(BUSINESS WIRE)-- Regency Centers Corporation (the “Company”) (NYSE: REG) announced its Board of Directors declared a quarterly cash dividend of $0.41406 per share on the Company’s Series 6 Preferred Stock (CUSIP: 758849707; NYSE: REGPrF), payable on September 30, 2016 to shareholders of record on September 13, 2016.

The Company also announced that its Board of Directors declared a quarterly cash dividend of $0.3750 per share on the Company’s Series 7 Preferred Stock (CUSIP: 758849806; NYSE: REGPrG), payable on September 30, 2016 to shareholders of record on September 13, 2016.

With more than 50 years of experience, Regency is the preeminent national owner, operator and developer of high-quality, grocery anchored neighborhood and community shopping centers. The Company’s portfolio of 311 retail properties encompasses over 42.3 million square feet located in top markets throughout the United States, including co-investment partnerships.

Regency has developed 222 shopping centers since 2000, representing an investment at completion of more than $3 billion. Operating as a fully integrated real estate company, Regency is a qualified real estate investment trust that is self-administered and self-managed.

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

Regency Centers Corporation
Patrick Johnson, 904-598-7422

ATTOM Data Solutions Reports U.S. Home Loan Originations Decrease 4% in Q2 Despite Rise in Purchase and HELOC Originations


Daren Blomquist
IRVINE, Calif. –— ATTOM Data Solutions, the nation’s leading source for comprehensive housing data and the new parent company of RealtyTrac, released its Q2 2016 U.S. Residential Property Loan Origination Report, which shows nearly 1.9 million (1,868,187) loans were originated on U.S. residential properties (1 to 4 units) in the second quarter of 2016, up 26 percent from the a two-year low in the previous quarter quarter but down 4 percent from a year ago.

The loan origination report is derived from publicly recorded mortgages and deeds of trust collected by ATTOM Data Solutions in more than 950 counties accounting for more than 80 percent of the U.S. population.

The 4 percent year-over-year decrease in total originations was driven by a 12 percent year-over-year decrease in refinance originations — the second consecutive quarter with an annual decrease.

Conversely, purchase originations increased 1 percent from a year ago — the eighth consecutive quarter with an annual increase — and Home Equity Line of Credit (HELOC) originations increased 5 percent from a year ago — the 17th consecutive quarter with an annual increase.

Michael Mahon



“Homeowners are increasingly tapping the home equity that many have built up during the last four years of rapidly rising home prices,” said Daren Blomquist, senior vice president at RealtyTrac.

“Meanwhile those rapidly rising prices are also locking some non-cash buyers out of red-hot but high-priced markets, resulting in weaker purchase loan originations in places like Denver, San Francisco, Portland and Dallas. 

"On the other hand, more affordable markets such as Cleveland, Kansas City and Boise are posting double-digit increases in purchase loan originations.”

Dallas, Birmingham, Phoenix post biggest increases in HELOC originations

Among the 73 metropolitan statistical areas with a population of at least 500,000 and at least 5,000 total loan originations in Q2 2016, those with the biggest year-over-year increases in HELOC originations were Dallas (up 36 percent); Birmingham, Alabama (up 30 percent); Phoenix (up 28 percent); Sacramento (up 27 percent); and Seattle (up 25 percent).

“The combination of rapidly rising home prices and historically low interest rates has resulted in a substantial increase in the number of homeowners taking out a home equity line of credit (HELOC) in the greater Seattle area,” said Matthew Gardner, chief economist at Windermere Real Estate, covering the Seattle market.

Matthew Gardner
“I believe the popularity of HELOCs compared to cash-out refinances is likely due to the fact that interest rates are traditionally lower for HELOCs.

“Additionally, if equity is withdrawn during a refinance, homeowners must begin paying back the funds immediately, whereas a HELOC allows you to use the funds as needed.”

Other markets among the top 10 for biggest year-over-year increase in HELOC originations were and Columbus, Ohio (up 25 percent); Provo-Orem, Utah (up 24 percent); Denver (up 24 percent); Orlando (up 24 percent); and Cleveland, Ohio (up 23 percent).

“With an aging housing inventory across Ohio, we are seeing a resurgence of consumers electing to invest in their current homes, and utilize the increased availability of HELOCS for funding such needed repairs as new roofs, remodeling, and home addition projects,” said Michael Mahon, president at HER Realtors, covering the Ohio housing markets of Dayton, Columbus and Cincinnati. HELOC originations increased 21 percent in Dayton and 17 percent in Cincinnati compared to a year ago.

“With our strong appreciation in South Florida over the past few years, many property owners are hedging their bets and locking in a low-rate HELOC that gives them flexibility and options in the coming years,” said Mike Pappas, CEO and president at the Keyes Company, covering South Florida, where HELOC originations increased 19 percent in Q2 2016 compared to a year ago.

Mike Pappas
Cleveland, Kansas City, Boise post biggest increase in purchase originations

Among the 73 metro areas analyzed in the report, those with the biggest year-over-year increases in purchase loan originations in Q2 2016 were Cleveland, Ohio (up 31 percent); Kansas City (up 21 percent); Boise, Idaho (up 20 percent); Dayton, Ohio (up 17 percent); and Rochester, New York (up 15 percent).

Other markets among the top 10 for biggest year-over-year increases in purchase loan originations were Columbia, South Carolina (up 13 percent); Atlanta (up 13 percent); Milwaukee (up 12 percent); Deltona-Daytona Beach-Ormond Beach, Florida (up 11 percent); and Colorado Springs (up 11 percent).

Denver, Houston, San Francisco post decreases in purchase loan originations

Among the 73 metro areas analyzed in the report, those with the biggest year-over-year decreases in purchase loan originations in Q2 2016 were Honolulu, Hawaii (down 16 percent); Denver (down 8 percent); Louisville, Kentucky (down 7 percent); Houston (down 7 percent); and San Francisco (down 6 percent).

Other markets among the top 10 for biggest year-over-year declines in purchase loan originations were Bakersfield, California (down 6 percent); Portland (down 5 percent); Oxnard-Thousand Oaks-Ventura, California (down 5 percent); Dallas (down 5 percent); and Detroit (down 4 percent).
  
For a complete copy of the company’s news release, please contact:

Jennifer von Pohlmann
949.502.8300, ext. 139


Data and Report Licensing:
800.462.5193

HFF closes sale of Nine-building, 451,213-square-foot industrial portfolio in the Carolinas



Eagleton Downs, 520, 521 and 601 Eagleton Downs Drive, Pineville, NC
and 10401 John Price Road, Charlotte, NC

 CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of a nine-building, 100-percent-leased industrial portfolio totaling 451,213 square feet in Charlotte and Raleigh-Durham, North Carolina, and Greenville-Spartanburg, South Carolina, markets. 

HFF marketed the property on behalf of the seller, Dalfen America Corp.  MDH Partners, LLC purchased the portfolio.

The portfolio comprises Stuart Andrew Business Center, Eagleton Downs, Airport Distribution Center and Matrix Business Center.

Chris Norvell
 Six of the portfolio buildings are in the Charlotte market; the two-building, 91,320-square-foot Stuart Andrew Business Center is located at 4216 Stuart Andrew Boulevard and 646 Michael Wylie Drive (Charlotte), and Eagleton Downs, a four-building, 122,940-square-foot industrial center at 520, 521 and 601 Eagleton Downs Drive (Pineville) and 10401 John Price Road (Charlotte).

 Airport Distribution Center, a Class A, two-building, 165,144-square-foot property, is located at 5101 and 5151 Nelson Road in the Raleigh-Durham-area community of Morrisville, North Carolina. 

Matrix Business Center is a 71,809-square-foot, one-building, Class A warehouse building at 500 Matrix Parkway in Piedmont, South Carolina, near Greenville-Spartanburg.

The portfolio is home to 13 tenants, including Professional Builders Supply, LLC; General Electric Company; Worldpac, Inc. and S&N Communications, Inc.  Located along the main southeastern distribution corridor, the buildings are adjacent to major roadways, including Interstates 85, 40 and 77.

The HFF investment sales team representing the seller was led by senior managing director Chris Norvell.

“We continue to see extremely strong demand for industrial investment product throughout the Carolinas,” Norvell said.  “This is particularly true in Charlotte, Raleigh and Greenville, which boast some of the strongest fundamentals among the nation’s secondary markets.  The opportunity to acquire a position in each market via a 100-percent-leased portfolio was well received in the 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 | www.hfflp.com

HFF closes $54.5 million sale of Two-property seniors housing portfolio in Washington, DC and New York


Chevy Chase House, 5420 Connecticut Avenue NW, Washington, DC


Ryan Maconachy
DALLAS, TX -- Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $54.5 million sale of two seniors housing assets totaling 219 units – Chevy Chase House in Washington, D.C. and Country House in Yorktown Heights, New York.

HFF marketed the asset on behalf of the seller, Holladay Corporation.  A joint venture between Blue Vista Capital Management, LLC and Meridian Senior Living, LLC purchased the communities free and clear of existing debt.

Chevy Chase House is located at 5420 Connecticut Avenue NW in Washington, D.C.  The community includes 131 independent living, assisted living and respite care units across a mix of studio, one- and two-bedroom floor plans averaging more than 600 square feet each.

 Chevy Chase House is situated close to best-in-class medical providers, including Sibley Memorial and Walter Reed National Military Medical Center, and high-end neighborhood amenities such as Starbucks, the Avalon Theater, a public library and numerous restaurants.

Country House is located at 2000 Baldwin Road in the Westchester County community of Yorktown Heights proximate to best-in-class medical providers in the surrounding area.  The property has 88 independent living, assisted living and respite care units as well as wellness amenities, including Wii bowling, yoga instruction and body movement classes.

The HFF team representing the seller was led by senior managing directors Ryan Maconachy and Chad Lavender.

 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 secures $23.275 million financing for grocery-anchored retail power center in Wilson, NC

                        
Heritage Crossing3401 Raleigh Road Parkway West, Wilson, NC

  
Travis Anderson
CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $23.275 million in acquisition financing for Heritage Crossing, a 311,030-square-foot, fully-occupied, grocery-anchored retail power center in Wilson, North Carolina.    

HFF worked on behalf of the borrower, a partnership between Collett Capital, Return Holdings and SilverCap Partners, to place the five-year, floating-rate loan with Bank of North Carolina.  Loan proceeds were used to purchase the property.

Completed in 2006, Heritage Crossing is anchored by Harris Teeter, Ross Dress for Less, Marshalls, Best Buy, Belk, Bed Bath & Beyond and PetSmart and is shadow-anchored by Target.

The 100-percent-leased retail center is also home to national and regional tenants, including Starbucks, Rue 21, Five Below, Payless, Kay Jewelers, Moe’s Southwest Grill, Subway, AT&T Wireless, Cato and GNC.

 Heritage Crossing is located at 3401 Raleigh Road Parkway West in Wilson, a community approximately 50 miles east of downtown Raleigh and 40 miles west of Greenville.  The center is situated at the heavily-trafficked intersection of Raleigh Road Parkway and Airport Boulevard, which has a combined traffic count of more than 40,000 vehicles per day. 

Cory Fowler

The HFF debt placement team representing the borrower was led by senior managing director Travis Anderson and associate director Cory Fowler

“Proven by its strong national tenant lineup and 100-percent occupancy, Heritage Crossing is regarded by many as the best location in town, as it is positioned along two major thoroughfares with excellent visibility,” said Fowler.

 “This strong partnership and asset will be further enhanced by Collett’s unique understanding of the property’s strengths and previous working relationships with the tenants, as Collett developed the center in 2006.”

 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


$5.8 Million Loan Arranged by Marcus & Millichap Capital Corp. for 105-Room Springhill Suites by Marriott in Port St. Lucie, FL

  
Springhill Suites by Marriortt, Port St. Lucie, FL


Robert Bhat
PORT ST. LUCIE, FL – Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has arranged a $5.8 million loan secured by a 105-room Springhill Suites by Marriott in Port St. Lucie, Florida.  Robert Bhat, a director in MMCC’s Miami office, arranged the debt placement.

“This hotel was acquired in an all-cash transaction in March 2016,” says Bhat. “We helped the buyer, an experienced hotel development group that specializes in value-add opportunities, refinance the investment.  

"They will complete a Property Improvement Plan (PIP) in the fall with a new design plan for the property.”

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

Kirk A. Felici
First Vice President/Regional Manager
 Miami Office

786-522-7000