Tuesday, October 4, 2016

Illustrated Properties Announces Marketing of Custom Homes on Boca Raton’s ‘Banana Patch’ Land

Alicia Lammersdorf
Boca Raton, FL - Illustrated Properties Agent Alicia Lammersdorf is the exclusive broker of the Paraiso Estates waterfront site in Boca Raton.

Lammersdorf, on behalf of renowned Boca Raton-based homebuilder Leonard Albanese & Sons Builders, is offering buyers the rare opportunity to build grand custom estates on land with a rich history that includes prior ownership by Henry Flagler and George Morikami.

Known by many as the “Banana Patch” land because of its use as a sprawling garden for the popular fruit and various exotic plants, the 1.77-acre site has room to accommodate the construction of a five-home compound. The estates are expected to vary in size, starting at 5,500 square feet.

 Asking prices for the individual estates range from $3.8 million to $5.8 million.

With more than a city block of water frontage along Boca Raton’s deepest canal, the Paraiso Estates site is the longest piece of privately owned waterfront land in the city. For luxury homeowners seeking privacy, the land is only accessible through three private gates. Boating enthusiasts can take advantage of the ability to dock yachts of up to 150 feet long.

George Morikami
“There is truly nothing else like Paraiso Estates in Boca Raton,” said Lammersdorf. “The builders behind this project have an unparalleled reputation in the marketplace. They will build gorgeous transitional/modern-style smart homes while preserving the site’s lush landscaping, flora and fauna. A “green home” package is available and encouraged on this special site.

The site has changed hands only a few times in Florida’s history, starting with its original owner Flagler. Morikami, who late in life donated land that eventually became the Morikami Museum and Japanese Gardens to Palm Beach County, purchased the site from Flagler’s Model Land Company in 1911.

Shortly after acquiring the site, Morikami sold it to another Japanese settler: Hideo Kobayashi. The Kobayashi family were farmers who kept the land until the late 1970s, when they sold it to the Olson’s, a married couple who continued the farming tradition. 

The Olson’s specialized in growing more than 30 kinds of banana plants, selling some plants to Disney World, SeaWorld and Busch Gardens, among other destinations.

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

Ashley Fierman
Account Executive, BoardroomPR
O 954-370-8999
C 954-330-1554

Bank of America Plaza | 1776 N. Pine Island Road
Suite 320 | Plantation, FL 33322

David Garside Joins Proper Title, LLC as Executive Vice President

David Garside
CHICAGO, IL (Oct. 4, 2016) — Palatine, Ill.-based Proper Title, LLC, a full-service title insurance agency, has hired David Garside as executive vice president of title and escrow operations. Garside will be responsible for managing Proper Title’s processing, closing and overall title operations.

“David has a long history of providing the leadership and vision necessary to elevate title operations and foster a collaborative environment,” said Ben Niernberg, executive vice president of business development and operations at Proper Title. “He shares Proper Title’s customer-focused culture, entrepreneurial spirit and commitment to innovation, which will help position us for continued growth.”

Garside, 46, has 20 years of experience in real estate, with 14 years dedicated to the title insurance industry. Prior to joining Proper Title, Garside had served for seven years as vice president, director of operations of Fort Dearborn Title.

He led the expansion of Fort Dearborn Title into a multi-state operation, and managed several critical initiatives, including strategic planning, business development, cross-functional team training and process efficiency. Garside has also held several professional leadership positions as a coach, mentor and independent consultant.

“The title insurance industry was status quo for more than a century until Proper Title came along and set new, higher standards,” said Garside. “I’m excited to be part of a firm that is taking title insurance to the next level, and my goal is to help the firm continue its upward trajectory of growth and superior customer service.”

Ben Niernberg
Over the past three years, Proper Title has grown its transaction volume by 400 percent and revenue by 420 percent; is the second-largest title insurance agency in Illinois; and earned the 2014 and 2015 “Rising Star / Excellence in Action” awards by Fidelity Investments.

 Proper Title is the first in its market to implement a concierge approach to elevate the customer experience, dedicating an attorney/broker concierge for each closing to ensure greater efficiency and a shorter closing time.

“Having begun his title insurance career as a closer and performing all aspects of the business before becoming an operations manager, David has a deep understanding of where title operations can, and should, improve,” said Niernberg.

Garside added, “My experience and guiding principles align with the Proper Title team and culture. I look forward to furthering its mission of innovation and disruption of the title insurance industry.”

Garside received an MBA from Lake Forest Graduate School of Business, where he received the school’s highest honor of Hotchkiss Scholar, and a bachelor’s degree from the University of Denver. He is also a board member of the First Goal Foundation, a nonprofit organization in Chicago, where he has been instrumental in its recent growth to provide underserved youth an opportunity to learn to play hockey and figure skate.
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

HFF secures $41.547 million financing for Three-property seniors housing portfolio in Sacramento, CA

Sarah Anderson

DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $41.547 million in financing for a three-property seniors housing portfolio in Sacramento, California.

HFF worked on behalf of Harbert Seniors Housing Fund I, LP, an affiliate of Harbert Management Corporation, to secure the seven-year, floating-rate acquisition loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.  

The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.

The properties in the portfolio are: Chateau on Capitol Avenue, Chateau at River’s Edge and River’s Edge.  Chateau on Capitol Avenue is located at 2701 Capitol Avenue less than two miles east of downtown Sacramento. 

The property has 56 assisted living units totaling 60,268 rentable square feet.  Chateau at River’s Edge and River’s Edge are adjacent properties located at 601 and 641 Feature Drive, approximately 3.9 miles east of Chateau on Capitol Avenue. 

Chateau at River’s Edge has 97 assisted living and 10 memory care units while River’s Edge encompasses 94 independent living units totaling 55,576 rentable square feet.  The properties are 95 percent leased overall.

The HFF seniors housing team representing the borrower was led by senior managing directors Ryan Maconachy and Chad Lavender and associate director Sarah Anderson.

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 financing for Class A multi-housing community in Houston’s Energy Corridor

Aura Memorial Apartments, 14900 Memorial Drive, Energy Corridor, Houston, TX

Matt Kafka
HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured financing for Aura Memorial, a 388-unit, Class A, multi-housing community in Houston’s Energy Corridor.

Working on behalf of the borrower, Trinsic Residential Group, HFF placed the seven-year, floating-rate loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.  The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.

Aura Memorial is situated at 14900 Memorial Drive between North Eldridge Parkway and Dairy Ashford Road in West Houston.  

The community offers nearby access to Interstate 10 and Beltway 8 and numerous retail, dining and recreational destinations, including City Centre, Memorial City Mall, Bear Creek and Terry Hershey Park. 

Completed in 2014, the wrap-style community has a variety of one- and two-bedroom floor plans ranging from 705 to 1,338 square feet.  Units feature granite countertops, contemporary cabinetry, stainless steel appliances, in-unit washers and dryers, modern lighting, soaking tubs and built-in USB charging ports.

 Community amenities include a resort-style swimming pool with sundeck and grill area; activity courtyard with an outdoor kitchen, bocce ball court, covered lounge area with TV and billiards table; fitness center; cyber cafĂ© with entertainment kitchen; business center; private conference room; and dog run.

The HFF debt placement team representing the borrower was led by senior managing director Matt Kafka.

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 and secures financing for Two multi-housing properties in Montgomery County, PA

Hunter's Run Apartments, 1151 West Sterigere in Montgomery County, Norristown, PA

PHILADELPHIA, PA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and secured financing for Riverstone East and West Apartments and Hunter’s Run Apartments, two multi-housing properties totaling 83 units in Norristown, Pennsylvania.

Riverstone East and West Apartments, Norristown, PA.
Riverstone East is at 1015 West Beech Street;
 Riverstone West  at 920 Buttonwood Street.
HFF marketed the assets on behalf of two separate sellers to RRG Norristown Apartments LLC, an affiliate of Jenkintown-based RRG Management LLC.

 Riverstone East and West Apartments was marketed on behalf of a local private investor, and Hunter’s Run Apartments was marketed on behalf of Concordia Properties. 

In addition, HFF’s debt placement team worked on behalf of the new owner to secure a seven-year, fixed-rate loan through a regional bank for the acquisition of both properties.

Hunter’s Run Apartments (Hunter’s Run) is located at 1151 West Sterigere in Montgomery County less than five miles from the Plymouth Meeting Mall and King of Prussia Mall. 

The property provides access to all major employment centers in Pennsylvania via major roadways, including Interstates 476, 276 and 76 and Route 202 and the Norristown Elm Street Southeastern Pennsylvania Transit Authority (SEPTA) train station.  The property has 39 one- and two-bedroom units, which are 97 percent occupied.

Carl Fiebig
Riverstone East and West Apartments encompasses two adjacent buildings totaling 44 one- and two-bedroom units averaging 864 square feet each, and is one block south of Hunter’s Run.  Riverstone East is located at 1015 West Beech Street and Riverstone West is located at 920 Buttonwood Street.

The HFF investment sales team representing the seller was led by associate director Carl Fiebig and senior managing director Mark Thomson.

HFF’s debt placement team was led by managing director James Conley and associate director Neil Campbell.

“The demand for value-add apartments in suburban Philadelphia remains robust,” said Fiebig.  “Our team was able to procure an eclectic mix of local and regional buyers to the opportunity.”

“We are excited to bring professional, on-site leasing and maintenance staff to these properties, and to continue providing well-maintained, safe and affordable communities for our residents,” added representatives of RRG Management LLC.

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

Sale of multi-housing development site in Charlotte, NC closed by HFF team

Justin Good
CHARLOTTE, NC -– Holliday Fenoglio Fowler, L.P. (HFF) announced its Carolinas investment sales team has closed the sale of a 5.21-acre development site in Charlotte’s South End submarket.

HFF managing director Justin Good and director Allan Lynch, formerly of Cushman & Wakefield | Thalhimer, worked alongside managing director Bill Simerville and senior vice president Brian Craver of Foundry Commercial to market the offering on behalf of Pepsi Bottling Ventures.

 Lennar Multifamily Communities purchased the site free and clear of existing debt.  Prior to the sale, Lennar Multifamily Communities successfully rezoned 4.69 acres of the site to TOD-M (Transit-Oriented Development Mixed-use) due to its proximity to the New Bern light rail station.

The site, formerly home to a Pepsi Bottling plant originally constructed in 1938, is situated at the intersection of New Bern Street and South Boulevard in Charlotte’s high-growth South End area.

 A six-story building encompassing 432 residential units, 26,000 square feet of retail and a nearly 800-space parking deck is planned for the parcel.  Designed by Axiom Architecture and LandDesign, the property is oriented both toward the LYNX light rail/Rail Trail and South Boulevard. 

Allan Lynch
The property will maximize pedestrian connectivity with five pedestrian-oriented, ground-floor retail spaces and direct access to the Rail Trail’s 4.5 miles of public trails that wind through the heart of the city connecting neighborhoods such as Sedgefield, Southside Park, Brookhill, Dilworth and Wilmore to Uptown. 

A public walkway adjoining the Rail Trail to South Boulevard and a pedestrian crossing from South Boulevard to the Harris Teeter across from the site will be added.

“Lennar Multifamily is bringing an institutional-quality development to the heart of the South End to continue the area’s incredible transformation into a residential and retail destination,” stated Good.  “Designed to maximize connectivity with New Bern Station and the Rail Trail, the development will offer significant street-level retail and unmatched access to all that nearby Uptown has to offer.”

 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