Friday, November 4, 2016

Faris Lee Investments Completes Record-Breaking Ground Lease Sale of Newly Developed El Pollo Loco-Occupied Property in Moreno Valley, CA

El Pollo Loco, 15135 Perris Boulevard,  Moreno Valley, CA

IRVINE, CA – Faris Lee Investments, a leading retail advisory and investment sales firm, has completed the $1.62 million ground lease sale of a freestanding, 2,975-square-foot retail property in Moreno Valley, Calif.

The property includes a newly developed single-tenant restaurant building that is occupied by El Pollo Loco which has a new, 20-year lease in place. At a 3.98 percent cap rate, the sale marks the lowest cap rate ever for an El Pollo Loco-occupied asset throughout the United States, per CoStar records. 

Jeff Conover
Jeff Conover with Faris Lee Investments represented the seller and developer of the property, Redlands, Calif.-based Infinity RS, LLC. The buyer, San Francisco-based Ling Trust, was represented by Kidder Mathews.

“Faris Lee began marketing this property during development and it sold for $10,000 over the asking price while it was still under construction,” said Conover. “New, single-tenant assets with long-term leases by recognizable tenants like this property are highly sought after. Ultimately, we secured multiple offers and sold the asset for all-cash to a 1031 exchange buyer.”

Located at 15135 Perris Blvd., El Pollo Loco opened its doors in August 2016. The property is situated at the signalized intersection of Perris Blvd. and John F. Kennedy Drive which sees more than 36,000 vehicles per day.

The property is across the street from numerous national retail brands including 7-Eleven, Jack in the Box, Cardena’s Supermarket, Boost Mobile, and Little Caesar’s Pizza, and is near March Air Reserve Base which includes approximately 30,000 personnel.

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

Darcie Giacchetto
Spaulding Thompson Associates


Arbor Funds $279 Million in Multifamily Transactions Across U.S.

Ronen Abergel
UNIONDALE, NY -- Arbor Realty Trust, Inc. (NYSE:ABR), a real estate investment trust and national direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets, has funded 34 loans totaling $279,219,964 across Kansas, Florida, Texas and other states under Fannie Mae Delegated Underwriting & Servicing (DUS®) Loan, Fannie Mae DUS Small Loan, Fannie Mae DUS Supplemental Loan, Fannie Mae DUS Multifamily Affordable Housing Loan, Arbor CMBS Loan and Arbor Bridge Loan programs.

Ronen Abergel, Vice President in Arbor’s New York office, originated the loans.

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

Christopher Ostrowski
AVP, Corporate Communications
Arbor Realty Trust, Inc.
333 Earle Ovington Blvd., Suite 900
Uniondale, NY 11553
T: 516-506-4255
C: 516-395-0508
F: 516-832-4973

HFF secures $14.5 million refinancing for 1200 Wilshire Boulevard in Los Angeles, CA

1200 Wilshire Boulevard, Downtown Los Angeles, CA

 LOS ANGELES, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $14.5 million refinancing for 1200 Wilshire Boulevard, a 96,060-square-foot office building in downtown Los Angeles, California.

Working on behalf of the borrower, Sharp Capital, HFF placed the 10-year, interest only, 4.02 percent, fixed-rate loan with a national bank.  This loan replaces previous acquisition financing with a regional bank that HFF helped secure in late 2014 for the borrower.  Sharp Capital plans to hold the asset in their core portfolio and the newly-placed, full-term interest only loan will help maximize the cash flow to Sharp Capital.

Jeff Sause
1200 Wilshire Boulevard is situated on 0.78 acres in the heart of downtown Los Angeles at the intersection of Wilshire and Lucas Street, three blocks from the Harbor Freeway.  

The six-story building was renovated in 2006 and is 89 percent leased to a variety of tenants in the banking, healthcare, legal, counseling and marketing sectors. 

The HFF debt placement team representing the borrower was led by director Jeff Sause and associate Ryan Ash.

“Since acquiring the asset we have seen strong demand for space at the property and have been able to create significant value,” said David J. Shophet, a principal of Sharp Capital.  “We look forward to continuing to hold the property and operating it as a top-tier asset in the submarket.”

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

Kristen Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | fax 617.338.2150 |

HFF arranges acquisition financing for 240-unit apartment community in Dallas’ Oak Lawn neighborhood

Cortney Cole

 HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged acquisition financing for ilume Park, a 240-unit, boutique apartment community in Dallas’ Oak Lawn neighborhood.

HFF worked exclusively on behalf of the borrower, Venterra Realty (Venterra), to secure the five-year, fixed-rate acquisition loan with five years of interest only payments through a life company correspondent lender.

 Venterra acquired ilume Park’s partner property, ilume, in conjunction with this acquisition in a non-HFF-related transaction.  ilume has 316 units and is situated across from ilume Park at 4123 Cedar Springs Road.

Steve Heldenfels
ilume Park is located at 3109 Douglas Avenue at the intersection of Cedar Springs Road in the Oak Lawn submarket near Uptown, the medical district and downtown Dallas.

 The property’s one- and two-bedroom units feature granite countertops, stainless steel appliances, gray faux wood flooring, washer/dryer connections and patios or balconies. 

Community amenities include a 4,000-square-foot fitness and health center, massage room, tanning beds, Zen garden, two enclosed dog parks with bone-shaped dog pool and pet grooming salon.

The HFF debt placement team representing Venterra was led by managing directors Cortney Cole and Steve Heldenfels.

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

Kristen Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | fax 617.338.2150 |

Cushman & Wakefield Negotiates Sale of Michigan Senior Housing Portfolio

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

David A. Meyer
Meyer Media 
+ 1 407 489 7488

RECI Finds Uncertainty Among Treasury Rate and Mortgage Spread Spikes

Jeanne Peck

Chicago, IL – Real Estate Capital Institute reports recent treasury rate and mortgage
spread spikes show a combination of capital market uncertainty on monetary
policy issues, the election and overall investor fatigue.  Yields are
globally rising as investors reevaluate how much longer current monetary
programs will work for controlling economic stimulus.  Pricing translates to
at least a quarter higher than a month ago. In fact, treasuries jumped to
the highest level since May.  Emerging commercial mortgage pricing trends

Stubborn Rates:  Bond markets flattening out.  Evidence mounts for
policymakers to stay within the neutral zone, at least for the short term.
While inflationary pressures overshadow the American economy, latest figures
favor key cost indicators staying in check.  Global markets still stymied by
lackluster performance, keeping domestic rates tamed.  Current yields, for
the most part, factor in at least one quarter-point rate hike.

Risk Retention Ignited:  This month Wall Street issued a considerable new
batch of conduit loans.  Issuers continue to shuffle pipelines ahead of
impending risk retention regulations taking effect on December 24, 2016.
After maintaining a steady rally over the past six months, new issue spreads
have begun to drift slightly wider.  With stringent loan loss requirements,
smaller conduits exiting the markets, in favor of larger financial
institutions that can absorb risk.  The net effect equates to about 15 bps
widening since September.

Agencies Active:  Freddie and Fannie are managing their caps well and are
still actively lending on multifamily assets. Both Agencies have released
competing green programs that offer significant benefits in rate and
proceeds should the property qualify. These programs can reduce interest
rates by up to 40 bps. 

Forward Planning:  With more flexible [balance-sheet] internal allocation
goals, based compared to other permanent lenders sources, LifeCos budgeting
funds for 2017. Key areas of competition include lower rates and
forward-rate locks of up to one year.

The Real Estate Capital Institute's director, Jeanne Peck, boasts "It's a
double header ball game -  as the current economic recovery rolls along, at
least for another year or so.  Simply too much capital in the system.
Expect more of the same market behavior, regardless of who takes the White

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

Jeanne Peck, Executive Director,