Monday, December 5, 2016

Complex Announces 62,000 SF of Pre-Leases, Including 10-Year Proof of the Pudding Deal in Atlanta, GA

Adam Noyes

ATLANTA, GA – Third & Urban, a real estate development and investment firm, announces the first major tenant in COMPLEX, an adaptive re-use project in West Midtown slated for an early December groundbreaking.

The upscale catering company, Proof of the Pudding, will occupy 31,000 square feet in a 10-year lease with an expected move-in date of April 2017. In addition to POTP, PSG Construction and LTX Solutions will also move into COMPLEX in 2017.

“This is a great opportunity for Proof of the Pudding,” said Adam Noyes, President of Proof of the Pudding. “Our new space at COMPLEX paired with the West Midtown location will allow us to better serve our clients and help ensure our continued growth and success.”

COMPLEX, slated for a complete redevelopment by May 2017, will feature 105,000 square-feet of creative flex space for individuals and businesses. The project will offer approximately 20 different spaces, with a mix of warehouse, office and retail uses, as well as varied ceiling heights and loading capabilities.

The brand-forward, community-driven environment will fill a unique need for business space in the highly sought-after West Midtown neighborhood. State Bank & Trust has provided construction financing for the $16 million project.

Hank Farmer
“The creative flex space we’re developing is ideal for a company such as Proof of the Pudding,” said Hank Farmer, partner at Third & Urban. “This upscale mix of office and warehouse product will provide new economy businesses, who desire a more inspiring environment, the opportunity to utilize creative space that until now has only been targeted at office tenants in Atlanta.”

PSG Construction, a boutique general contracting company focused on commercial, design-driven projects, will lease 6,000 square-feet of office and storage space for five years. PSG Construction is represented by Emily Ferguson and Wesley Budd of CBRE Atlanta. LTX Solutions, a supply chain management solution firm, will lease 7,368 square-feet of office space for five years.

Investa Services, already located at COMPLEX, has extended its 17,000 square-foot office and storage space lease for an additional five years. Investa Storage is represented by John Dryman of The Dryman Team.

The COMPLEX project is represented in the leases by Jamie Hargather and Joseph Rogers of Wilson, Hull and Neal.  Proof of the Pudding is represented by Lee Cardwell and Andrew Walker of Colliers International. The project architect is Kronberg + Wall and PSG Construction is the general contractor.  Niles Bolton is the interior architect for Proof of the Pudding.

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

Emma Cathey
Liz Lapidus PR

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772 Edgewood Ave, NE
Atlanta, Georgia 30307

EagleBridge Capital Arranges $3,325,000 Permanent Mortgage Financing For Randolph, MA Apartment

34--42 West Street Apartments, Randolph, MA

Ted Sidel
Boston, MA -- EagleBridge Capital has arranged permanent mortgage financing in the amount of $3,325,000 for 34-42 West Street located in Randolph, Massachusetts.

The non-recourse mortgage was arranged by EagleBridge principals Ted Sidel and Brian Sheehan through Freddie Mac. Highlights of the financing included a rate in the mid 3’s, a 10- year term, and a 30 year amortization.

The apartment complex is composed of two apartment buildings and is 100% leased. The buildings contain a total of 32 apartments with a mix of 14 two bedroom/one bath units, 17 one bedroom/one bath units and 1 studio unit.

34-42 West Street is located at the intersection of N. Main Street (Route 28) in Randolph. It is close to public transportation and within easy walking distance of area shops, shopping centers, restaurants, and banks.

Brian Sheehan
agleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for apartment, industrial, office, and  r & d buildings, shopping centers,  hotels, condominiums and mixed use properties as well as special purpose buildings.

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

Stanley J. Sidel
Senior Advisor
EagleBridge Capital
33 Broad Street
Boston, MA 02109
Tel: 617-292-7177 Ext. 300

Arbor Appoints Stuart Gans as FHA Originator in Dallas, TX Office

Stuart Gans
  UNIONDALE, NY (Dec. 5, 2016) - 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 announced the appointment of Stuart Gans as FHA Originator in Arbor’s Dallas, TX, office.

Mr. Gans is responsible for originating multifamily, healthcare and hospital loans nationwide utilizing Arbor’s FHA loan program. He will report directly to Jeffrey Allshouse, Arbor’s SVP, FHA Sales.

“Stuart is an excellent addition to Arbor’s origination team,” said Allshouse. “We believe Stuart possesses the leadership and knowledge necessary to expand our geographic FHA originations footprint to local southwestern markets.”

Before joining Arbor, Mr. Gans originated HUD loans for Love Funding, and prior to that, he spent 22 years at Lend USA, the commercial and mortgage lending company he founded in 1992. Under his leadership, the company closed more than $1 billion in loans over a 15-year period, including FHA multifamily, Fannie Mae and private bridge financing.

Prior to entering the lending business, Mr. Gans was a hospital sales executive for a Fortune 100 company.

Mr. Gans is a graduate of Rowan University of New Jersey with a Bachelor of Arts degree in Communications.

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

Christopher Ostrowski

WNC’s Anand Kannan Recognized as an AHF 2016 Young Leader at AHF LIVE: The Affordable Housing Developers Summit

Anand Kannan
 IRVINE, CA –– WNC, a national investor in real estate and community development initiatives, announced that Anand Kannan, president of its subsidiary, Community Preservation Partners, has been recognized as an Affordable Housing Finance 2016 Young Leader.

Kannan was recognized at AHF Live: The Affordable Housing Developers Summit, held in Chicago November 15 – 17. AHF recognized six individuals age 40 and younger as its 2016 Young Leaders.

“Anand is an integral part of the WNC team who has demonstrated a remarkable ability to lead and grow the Community Preservation Partners platform, which now totals more than 4,600 units nationwide,” said Will Cooper, Jr., president and chief executive officer of WNC. “He is very deserving of this prestigious award, and we couldn’t be more pleased to announce his recognition in leadership.”

During his time with Community Preservation Partners, Kannan has grown the firm’s portfolio from approximately 1,000 units to more than 4,600 units, with a combined development cost of approximately $750 million.

Kannan, who has approximately 15 years of experience in the development and preservation of affordable housing, joined Community Preservation Partners as vice president in 2010, and was promoted to president in 2014. The firm was founded by WNC in 2004 to address the growing need to preserve the aging affordable rental housing stock across the country. The company has successfully acquired, developed and rehabilitated more than 4,000 affordable housing units across the nation since its founding.

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

Julie Leber
Spotlight Marketing Communications
949.427.5172, ext. 703