Tuesday, October 11, 2016

NAI Realvest Completes Three Lease Agreements for Class A Office Space totaling 6,400+ rentable square feet in Orlando, FL

Mary Frances West
ORLANDO, FL – NAI Realvest recently completed three lease agreements for Class A office space at Landmark Center One, University Court and The Citadel III in Orlando that total more than 6,400 rentable square feet

Mary Frances West, CCIM, Vice President at NAI Realvest, represented the local tenant, Seal Shield, LLC in a new lease of 1,704 square feet at Landmark Center One, 315 E. Robinson St.  The landlord, HIW-KC Orlando, LLC d/b/a Highwoods Properties, Inc. was represented by Dave Ayers of Highwoods Properties.

West represented the landlord, Interchange-FL Rouse, LLC of Daytona Beach, in a lease renewal agreement with the tenant, ESP Management of Florida, Inc. for 3,882 square feet at University Court, 3361 Rouse Rd. in East Orlando. 

West brokered a renewal lease for the 824 square feet in Suite 290 of The Citadel III building at 5950 Hazeltine National Drive near Orlando International Airport.  Altenesol, LLC is the tenant and Citadel Partners, LTD of Orlando is the landlord.

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

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142 Lvershelco@aol.com


Meridian Capital Group Arranges $3.2 Million in Acquisition Financing for the Purchase of a Multifamily Property in West Palm Beach, FL

Blue Heron Apartments, 1500 West Blue Heron Boulevard, Riviera Beach, FL.

New York, NY – Meridian Capital Group, America’s most active debt broker, arranged $3.2 million in acquisition financing for the purchase of a multifamily property located in West Palm Beach, FL on behalf of Maxiplex LLC.

The five-year non-recourse loan, provided by a balance sheet lender, features a fixed rate of 3.30% and a step-down prepayment penalty. This transaction was negotiated by Meridian Vice President, Peter Martz, who is based in the company’s Boca Raton, FL office.

Peter Martz
Blue Heron Apartments, is located at 1500 West Blue Heron Boulevard in Riviera Beach, FL. The five two-story apartment buildings total 72 units and are 33% occupied by month-to-month tenants. The property was acquired by foreign national borrower whose plans included significant capital improvements to boost income as well as new lease requirements for tenants.

“As a result of detailed plans for future renovations we were able to negotiate 79% of the current appraised value with the lender,” explained Mr. Martz. “Meridian was able to prevent the deferred maintenance from affecting the client’s proceeds,” he added.

“We emphasized the overall value of the property and came up with a creative solution with the lender and borrower and closed the transaction in less than 60 days.”

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

Jonathan Stern
Meridian Capital Group

Hubbard Street Dance Chicago retains HFF to advise on potential new facility

Hubbard Street Dance Center, 1147 West Jackson Boulevard, Chicago, IL
                                                                                                                                         (Photo by Bill Zbaren)

CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announces it has been retained as a strategic advisor to address Hubbard Street Dance Chicago’s long-term facility needs in the Chicago area.

Founded in 1974 as a public facility for dance classes, with its professional performing ensemble following in 1977, Hubbard Street has grown to become a pillar of Chicago’s cultural community. 

Sarah Albrecht

Today the organization comprises a company of 18 world-renowned dancers performing across the U.S. and abroad; the Lou Conte Dance Studio, offering more than 70 classes per week in various techniques for dancers of all abilities; intensive training programs for pre-professional and early-career performers and choreographers; and extensive youth, education, community, adaptive dance and family programs that engage young people and parents, students attending public schools throughout Chicago and its surrounding suburbs, people with Parkinson’s and children on the autism spectrum.

Jeff Bramson
To accommodate Hubbard Street’s significant growth and to create capacity for future expansion, the organization is exploring alternatives to its current home, the Hubbard Street Dance Center.

 Located at 1147 West Jackson Boulevard at South Racine Avenue, this 53,000-square-foot facility is situated in the West Loop neighborhood, near the Interstate 90/290 interchange, the University of Illinois at Chicago and the Chicago Transit Authority’s (CTA) Blue Line station at Racine.

The HFF team representing Hubbard Street is led by senior managing directors Jeff Bramson and Jaime Fink, managing director Danny Kaufman and director Amy Sands.

“Change is a core component of Hubbard Street’s identity,” says Sara Albrecht, chair of Hubbard Street’s Board of Directors.  “The organization’s strength has always been its willingness to evolve continuously in response to the dynamic field of contemporary dance.

“ Multiple options are available to us as we look toward Hubbard Street’s promising future, and still more will be identified and clarified through this assessment process.  We are excited to work closely with HFF in exploring all of these possibilities.”

  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 | hfflp.com

HFF closes sale of 104-unit boutique apartment building in Harrison, NJ

221 Bergen Apartments, Harrison, NJ

Jose Cruz

FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of 221 Bergen, a 104-unit boutique apartment building in Harrison, New Jersey.

HFF marketed the property exclusively on behalf of the seller, a joint venture between The Hampshire Companies and CrownPoint Development Group, Inc.  The TAK Group purchased the asset free and clear of existing debt.

Completed in 2015, 221 Bergen features studio, one- and two-bedroom market-rate units with high-end finishes, including stainless steel appliances, quartz countertops, wood cabinetry, pendant lighting, faux wood plank flooring and in-unit washers and dryers. 

Common area amenities include a 24-hour fitness center with cardio equipment and yoga room, resident lounge, business center, smartphone security/intercom system, remote-operated garage parking and a furnished rooftop terrace with views of Newark and New York City. 

Situated on a 1.48-acre site at 221 Bergen Street in Harrison’s walkable downtown, the property is near the Harrison PATH train station, Interstate 280 and Newark Liberty International Airport.

Kevin O'Hearn
The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn, directors Stephen Simonelli and Michael Oliver and associate director Marc Duval.

“Harrison continues to attract both private and institutional investors given the access to transportation and quality new construction,” stated Cruz.  “221 Bergen is a great example of the types of quality multi-housing properties that are in high demand in the New Jersey 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 | hfflp.com