Sunday, June 25, 2017

HFF arranges $80 million acquisition financing for BLVD Place in Houston, TX


 BLVD Place,  1700 Post Oak Boulevard, Uptown District, Galleria area, Houston, TX
                                                                                                                    (Photo by Shau Lin Hon)


Matt Kafka
HOUSTON, TX  -– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged financing for BLVD Place, a 216,692-square-foot, mixed-use retail and office project with 1.42 acres of additional developable land in the Uptown District/Galleria area of Houston, Texas. 

HFF worked on behalf of the borrower, Whitestone REIT, to secure the 10-year, fixed-rate loan.  HFF also represented the seller, a partnership of San Francisco-based Bailard, Inc. and Wulfe & Co, in the sale of BLVD Place. 

Anchored by Whole Foods, BLVD Place is the only grocery-anchored, major mixed-use development in Houston. The project is 99.2 percent occupied and home to a diverse mix of tenants, including Frost Bank, Post, The Boardroom, Verizon, Elaine Turner, Sozo Sushi and True Food.

 Included in the purchase of BLVD Place is approximately 1.4 acres of developable land that will give the borrower the ability to build an estimated 137,000 square feet of additional leasable space. 

Located at 1700 Post Oak Boulevard in the epicenter of Uptown Houston, BLVD Place is in one of the largest business districts in the United States and has immediate access to Loop 610, US-59 and Westpark Tollway. It is proximate to River Oaks, Tanglewood, West University Place, Memorial Village and Bellaire, some of Houston’s most prestigious and affluent neighborhoods.


Kelly Lane
 More than 173,193 residents earning an average annual household income of $120,037 live within a three-mile radius of the property. 

The HFF debt placement team representing the borrower was led by senior managing director Matt Kafka and director Kelly Layne.  Kafka was also involved in brokering the sale of the property along with senior managing directors Wally Reid, Rusty Tamlyn and Ryan West, managing director Davis Adams and director Trent Agnew.

“The transaction had a short time frame and several complicated moving parts but everyone involved performed flawlessly,” Kafka said.

“The iconic nature of this real estate had capital in a frenzy when the perception of the Houston market was at its lowest,” West added.  “This was clearly one of those rare opportunities to capitalize on owning one of the highest-profile corners in the fourth largest city in the country.  We commend Whitestone for their recognition of this opportunity.”


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

Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


The Hampshire Companies Sell Six-Building Northern New Jersey Industrial Portfolio for $146.85 Million



Six-Building Industrial Portfolio, northern New Jeesey


Mark Rosen
MORRISTOWN, NJ -– The Hampshire Companies announced the $146.85 million sale of a six-building industrial portfolio totaling 1.2 million square feet in northern New Jersey.  Holliday Fenoglio Fowler, L.P. (HFF) marketed the transaction on behalf of The Hampshire Companies. 

The portfolio comprises 200 Middlesex Avenue in Carteret (408,437 square feet); 39 Robinson Road in Lodi (73,373 square feet); 301 Mayhill Street in Saddle Brook (200,000 square feet); 30 Wesley & Worth in South Hackensack (245,824 square feet); and 5 Henderson Drive (210,530 square feet) and 2 Dedrick Place (80,000 square feet) in West Caldwell. 

All of the properties are in infill locations in established industrial submarkets and are near both demand drivers and major transportation arteries servicing their respective markets.  The stabilized portfolio is 96 percent leased to a variety of tenants, including Continental Terminals, R.R. Donnelley, FreshPro Food Distributors and Sealed Air.

The Hampshire Companies team was led by principals and executive vice presidents Todd Anderson and Mark Rosen.

Todd Anderson
“Given its access to the Ports and major area highways, northern New Jersey has become a hub for logistics real estate,” said Anderson. “As e-commerce continues to grow it will fuel demand for logistics real estate.  This demand will include new and existing space. 

“Our northern New Jersey industrial portfolio offers immediate access to large population centers making it highly attractive for companies requiring last-mile facilities.  With demand high and product limited now was the right time to execute our investment strategy and sell the portfolio. 

“Together with our internal team at Hampshire, HFF proved to once again be an excellent partner in assisting us to market the transaction and produce a qualified buyer for the highly sought-after portfolio.”

The HFF team was led by executive managing director Joe B. Thornton, Jr., senior managing directors Jon Mikula and Jose Cruz, managing director David Giancola and associate director Robert Borny.

“We are excited to bring HFF’s full capital markets expertise in to help Hampshire execute an important strategic transaction,” said Mikula.
  
“This portfolio sale drew a significant amount of interest from the institutional community and represents the largest industrial sale in New Jersey this year,” added Cruz.  “The potential rental upside and strategic locations resulted in very aggressive pricing as demand for core plus industrial in the state continues to be very strong.”
Joe B. (Jody) Thornton Jr.

 The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey.  The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments.

  Additional information on The Hampshire Companies is available online at www.HampshireRE.com.

 To stay connected with The Hampshire Companies and for updates on the latest transactions and news follow the company on Facebook (www.facebook.com/hampshireco), Twitter (@hampshireco), and LinkedIn (www.linkedin.com/company/the-hampshire-companies).

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

Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


Saturday, June 24, 2017

HFF closes $59.75 million sale of and arranges $33.5 million in financing for Peninsula Executive Center in Boca Raton, FL


 
Peninsula Executive Center, Boca Raton, FL

Chris Drew
MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $59.75 million sale of and arranged $33.5 million in financing for Peninsula Executive Center, a 187,784-square-foot, Class A office property in Boca Raton, Florida.

HFF marketed the property on behalf of the seller and procured the buyer, C. Talanian Realty Co.  Additionally, HFF worked on behalf of the new owner to secure the long-term, fixed-rate financing through Principal Real Estate Investors. 

Peninsula Executive Center consists of two four-story office buildings and a 742-space parking structure located at 2381 and 2385 Executive Center Drive in Boca Raton. 

This location is centrally located in the heart of Boca Raton’s most coveted office submarkets and adjacent to the Midtown Boca district.  Additionally, the property is surrounded by an abundant amount of executive housing and amenities, including Town Center Mall and University Commons.  The property is currently 97 percent leased and is anchored by Newell Brands. 


Hermen Rodriguez
The HFF team was led by senior managing directors Chris Drew and Hermen Rodriguez, director Ike Ojala, associate director Brian Gaswirth and associate Matthew McCormack.

“This acquisition marks the first major investment in South Florida by C. Talanian Realty Co.,” said Drew.  “The buyer was attracted this opportunity due to its main and main location within the heart of Boca and the durable long-term cash flow. 

“A number of balance sheet lenders aggressively pursued this opportunity; however, Principal was ultimately selected due to their deep knowledge of the Boca office market and their ability to structure a creative financing solution.”

Rodriguez added, “This was a highly sought after investment opportunity in the very dynamic West Boca office market.”

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

 Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

   


HFF closes sale of award-winning Hilton Dallas Park Cities hotel



Hilton Dallas Park Cities Hotel, Preston Center, Dallas, TX 


John Bourret
ALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Hilton Dallas Park Cities, a 224-room, AAA Four Diamond hotel in Dallas’ Preston Center.

HFF marketed the property on behalf of the seller.  Woodbine Legacy Investments (WLI) purchased the hotel, which is the new fund’s inaugural purchase.

The 11-story Hilton Dallas Park Cities was completed in 2001 and extensively renovated between 2012 and 2013.  The hotel features an array of amenities, including a heated outdoor rooftop pool with city views, business center, fitness center, HHonors lounge, 10,259 square feet of meeting and event space, lobby bar and Grain full-service restaurant.

 Situated on almost a full acre at 5954 Luther Lane, the hotel is located in the heart of Preston Center, the city’s most prestigious office district.  The property is bordered by some of Dallas’ most affluent neighborhoods and the Dallas North Tollway, providing guests access to demand generators, including Southern Methodist University, the two million-square-foot NorthPark Center mall and 3.1 million square feet of Class A office space.


Austin Brooks
The HFF investment sales team representing the seller was led by managing director John Bourret and associate director Austin Brooks.

Woodbine Legacy Investments is a real estate investment platform that focuses on branded, boutique and independent hotel acquisitions and investments across the United States.  

Capitalized by select family offices, foundations and institutions, WLI pursues lower-risk, conservatively leveraged, full-service and select-service hotel assets in top-tier markets that offer long-term cash-flow opportunities for investors. 

 The fund is led and owned by Woodbine Development Corporation. 

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

 Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

HFF arranges $29.975 million acquisition financing for Whole Foods-anchored retail center in Birmingham, AL


Cahaba Village Shopping Center, Mountain Brook, AL

Gregg Shapiro

ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $29.975 million in acquisition financing for Cahaba Village, a 115,180-square-foot, trophy, Whole Foods-anchored retail center in the affluent Birmingham submarket of Mountain Brook, Alabama.

HFF worked on behalf of the borrower, an institutional client advised by L & B Realty Advisors, to place the 10-year, fixed-rate loan with Guardian Life Insurance Company of America. 

Additionally, HFF will service the loan, proceeds of which provided post acquisition financing for the purchase of the property in a sale brokered by HFF.

Cahaba Village is a generational asset located in Mountain Brook, one of the most affluent markets in Alabama, and is strategically positioned along U.S. 280, the main retail corridor in Birmingham.

 The property is home to one of the most dynamic, highest-performing tenant line-ups in the southeast and features such notable tenants as Whole Foods, Diamonds Direct, Mountain High Outfitters and Bryant Bank.   

The HFF debt placement team was represented by managing director Gregg Shapiro and senior managing director John Rose.

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

 Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


PulteGroup Promotes Clint Ball to Division President


Clint Ball
ORLANDO, FL--- PulteGroup, Inc. promoted Clint Ball to North Florida Division President overseeing homebuilding by Pulte Homes, Centex Homes and Del Webb brands from the greater Orlando area north to Jacksonville. 

Peter Keane, Florida Area President said Ball was formerly Vice President of Operations for the North Florida Division. 

In his new role as division president, Ball will be responsible for all homebuilding and community development operations in the two markets and in particular for the Orlando MSA where 12 new Pulte and Centex communities are being launched in 2017 representing a positive economic investment in the region.

The 12 new communities opening this year – five in Orange County, four in Seminole, two in Osceola and one in Lake County-- are in addition to 16 existing Orlando area communities where the homebuilder is already active.


Peter Keane
Ball has been with PulteGroup for eight years.  He started as a division controller, and quickly moved through the ranks being promoted from Vice President of Land Acquisition to Vice President of Operations in 2016.  

A Florida native and lifelong Orlando resident, Ball started his career with Deloitte; he has also held senior financial positions at Golf Channel.

“Clint has shown great leadership and strength as our VP of Operations in North Florida and we look forward to continued growth in the Orlando and Jacksonville marketplaces under his direction as division president,” said Keane.

PulteGroup currently has 200 employees in the North Florida division and will continue to add employees to support the opening of 12 new communities.


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

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

  

HFF secures $75 million construction loan for life science lab project in South San Francisco


Genesis North Tower Life Science Building, South San Francisco, CA


Tim Wright
SAN DIEGO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $75 million construction loan for the development of Genesis North Tower, a 21-story, 390,000-square-foot life science building in South San Francisco, California.

HFF worked on behalf of the borrower, Phase 3 Real Estate Partners, Inc., in arranging the construction loan through a national bank lender. 

Genesis North Tower is located at Two Tower Place immediately adjacent to and visible from Highway 101 in South San Francisco’s life science hub.  This location is less than 10 minutes from the San Francisco Airport and proximate to the Bart/Caltrain lines of the San Bruno and South San Francisco stations. 

The shovel-ready project is the second phase of a combined 800,000-square-foot life science project, which also includes the existing Genesis South Tower lab property and future seven-story Hotel and Amenity center. 

The HFF debt placement team representing the borrower was led by senior managing director Tim Wright, managing director Todd Sugimoto, director Zack Holderman and associate Olga Walsh.


Olga Walsh
Phase 3 Real Estate Partners, Inc. (P3RE) is a progressive real estate company dedicated to fostering the growth of the life science community by providing premiere, Class A environments that meet the needs of companies today and in the future. 

P3RE’s properties are located in the epicenters of the life science markets in San Diego and San Francisco.  These are innovative urban centers for the life sciences, and represent two of the top three life science clusters in the world.

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

Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

Friday, June 23, 2017

Hold-Thyssen Locates New Tampa Office for Law Firm

                                  
Theresa Margaris


Tampa / Clearwater, FL  --- Hold-Thyssen, Inc. a full service commercial real estate firm, recently negotiated a new lease agreement for 2,000 rentable square feet in suite 106 of the office building located at 13528 Prestige Place in Tampa

Leasing Associate Theresa Margaris of Hold-Thyssen’s Clearwater office brokered the transaction between the Landlord, Stephen R. Loveridge d/b/a Lodegiver, LLC, and Tenant, Law Offices of Michelangelo Mortellaro, P.A., a seasoned professional with more than a decade of experience in elder law legal needs including estate planning, probate, Medicaid asset protection and VA benefits. 


13528 Prestige Place, Tampa, FL

Margaris said her extensive knowledge of the local market enabled her to successfully match the specific needs of the Tenant with an unlisted vacancy to create a win-win for both parties. 

Hold-Thyssen, Inc. provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  

The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States.

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


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

Thursday, June 22, 2017

Arbor Funds $137.9M in FHA Financing Volume Year-to-Date, 2017


 
John Caulfield
 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, announces the recent funding of six loans totaling $137,935,328 under several FHA financing product lines:

·         Briar Club Apartments, Memphis, TN – This Class B/C, 272-unit multifamily property, consisting of 17 multifamily apartment buildings, received a total of $9,866,000 – including $1,277,689 for critical repairs, renovations and upgrades – is funded under the FHA 223(f) product line. 

The 35-year refinance loan amortizes on a 35-year schedule. Briar Club Apartments is located approximately 10 miles southeast of the Memphis central business district within close proximity to Highway 240. Ronen Abergel, Vice President of Arbor’s Uniondale, Long Island office originated the refinance loan.

 ·         Bridford Lake Apartments, Greensboro, NC – A $33,022,000 FHA 223(f) refinance of a 320-unit garden-style multifamily property received $33,022,000 funded under the FHA 223(f) product line. The 35-year refinance loan amortizes on a 35-year schedule. Bridford Lake Apartments is located in a primarily residential neighborhood, approximately 9 miles southwest of the Greensboro Central Business District and 11 miles northeast of the High Point Central Business District.

 
Briar Club Apartments, Memphis, TN
         College Towne West, Lansing, MI – This 532-unit multifamily property, now known as Towne Square Apartments and Townhomes, received $16,566,328 funded under an interest rate reduction program. The 29-year refinance loan amortizes on a 29-year schedule. 

The refinancing lowered interest costs yielding significant debt service savings. College Towne West, situated on over 31 acres within close proximity to Michigan State University, offers amenities such as a sauna, tanning bed and high speed wireless connection. Michael Jehle, Vice President of Arbor’s Oklahoma office, originated the refinance loan.

·         Champions Club, Glen Allen, VA – This 212-unit garden-style multifamily property received $20,017,000 funded under the FHA 223(f) product line. The 35-year refinance loan amortizes on a 35-year schedule. Champions Club Apartments offers amenities including a tiered swimming pool, lighted tennis court, sand volleyball court, racquetball court, clubhouse and fitness center.

  
College Towne West Apartments, Lansing, MI
·         Madison at Adams Farms, Greensboro, NC – This 500-unit multifamily property received $31,110,000 funded under the FHA 223(f) product line. The 35-year refinance loan amortizes on a 35-year schedule.

Madison at Adams Farms Apartments is located on 46.9 acres, approximately 9 miles southwest of the Central Business District of Greensboro and 9.5 miles northeast of the Central Business District of High Point.

·         Clearfield Station, Clearfield, UT – This Class A, 216-unit multifamily property received $27,354,000 funded under the FHA 221(d)(4) product line. The 24-month nonrecourse construction loan converts to a 40-year self-amortizing permanent loan. Clearfield Station is part of a larger 72-acre master-planned development adjacent to the Clearfield FrontRunner commuter rail station owned by the Utah Transit Authority (UTA). 

The developer has planned a mixed-use for the property including office and residential spaces, an industrial park, a school and a park, as well as parking to support the existing rail station. This project is in line with HUD’s mission of creating strong, sustainable communities through promoting transit-oriented developments. Garth Davis, Senior Vice President of Arbor’s San Francisco office, originated the new construction loan.


Clearfield Station Apartments, Clearfield, UT
“This recent volume of funding speaks to the capabilities of Arbor’s FHA Lending Group,” says John Caulfield, Chief Operation Officer. “It demonstrates that Arbor is persistent in its commitment to extending its expertise within the FHA multifamily lending market.”

As an approved FHA Multifamily Accelerated Processing ("MAP") Lender, Arbor’s FHA group provides all FHA-insured Multifamily and Healthcare facility loan programs on an expedited basis.

 Arbor also offers the unique “Bridge to HUD/FHA Exit” program. This program is designed to effectively solve the timing issue associated with closing FHA loans by providing a bridge loan to facilitate a quick closing on an acquisition. Borrowers who are looking to complete repairs and/or reposition a property can also use a bridge loan to facilitate a maximum FHA refinance loan.

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

Arbor Realty Trust, Inc.                                                                   
Bonnie Habyan
333 Earle Ovington Blvd, Suite 900                                              
Tel: 516.506.4615
Uniondale, NY 11553                                                                       bhabyan@arbor.com
800.ARBOR.10

HFF arranges partial interest sale and financing for the redevelopment of ROW DTLA in Downtown Los Angeles

       

Doug Bond
LOS ANGELES, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged for a 37.5 percent minority interest sale and the refinancing of the existing debt for ROW DTLA in Los Angeles, California. 

HFF worked on behalf of Atlas Capital Group and an institutional investment partnership managed by Square Mile Capital Management to admit the Healthcare of Ontario Pension Plan (“HOOPP”) into the partnership, as well as secure the $475 million, three-year floating-rate loan through Blackstone Real Estate Debt Strategies.

The newly formed equity partnership and debt commitment will further the repositioning and revitalization of this historic, mixed-use district encompassing 32 acres and more than 1.8 million square feet of office, retail, restaurant, entertainment and produce market space on the southern end of the Arts District of Downtown Los Angeles.

ROW DTLA, formerly known as the Los Angeles Terminal Market was built (1917-1923) alongside the Southern Pacific Railroad, and is the largest contiguous block of land in Downtown.  Physically, it comprises eight buildings, a 3,827-stall parking garage, 5.2 acres of developable land, a fully operating produce market and more than 30,000 square feet dedicated to the arts and public space.


Paul Brindley
When complete, ROW DTLA will be home to more than 1.4 million square feet of creative office space, 100 unique merchants, and 15 restaurants including the world-renowned James Beard nominee, Tartine Manufactory that will include two restaurants, a coffee lab, marketplace and bakery. 

The other exciting brands at ROW will include Smorgasburg, Paramount Coffee Project, Rappahannock, J Brand, mitĂș, Go Get Em Tiger, CafĂ© Dulce, Hayato, Pikunico, A+R, 13 Bonaparte, Lust Covet Desire (LCD), Scent Bar, Yolk, Vrai & 

Oro, AHLEM Eyewear, Flask & Field, Milla Chocolates, Shades of Grey by Mica Cohen, dRA Clothing, Banks Journal, Bridge & Burn, Hancock Design, Poketo, Gossamer, Bodega, 

The Wicked Boheme, Nova Arts Salon, Tokyobike, Shadowbox, MVMT Theory, Bender Yoga, The Cartorialist, Jeff Morrical Studio, Jordan Zobrist and jig+saw. www.rowdtla.com  

The HFF equity and debt placement team representing the ownership was led by senior managing directors Doug Bond and Paul Brindley and associate director Brad Greenway.

“With its rich history and wide variety of integrated uses onsite, ROW DTLA will be one of Los Angeles’ can’t miss destinations similar to places such as the Meatpacking District in New York,” said Bond.

“The extraordinary vision of the Atlas team and its partners has led to the creation of one of Los Angeles’ iconic assets that will be a destination for tenants, customers and tourists for years to come,” added Brindley.
  
For a complete copy of the company’s news release, please contact:

Kristen Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617-848-1572 | cell 617-543-4873 | hfflp.com

HFF arranges $125 million refinancing for a high-quality retail center in El Segundo, CA



Plaza El Segundo, South Bay area, El Segundo, CA


Kevin MacKenzie

LOS ANGELES, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $125 million refinancing for Plaza El Segundo, a 380,558-square-foot, high-quality retail center in the South Bay community of El Segundo, California.

HFF worked on behalf of the borrower, Federal Realty, to secure the 10-year, fixed-rate loan through PGIM Real Estate Finance. 

Completed in 2007, Plaza El Segundo is 97 percent leased and comprises 13 buildings in three shopping districts: The Plaza, The Collection, and The Edge.  The property features a strong tenant line-up that includes Whole Foods, Dick’s Sporting Goods, lululemon athletica, Anthropologie and Salt Creek Grill. 

Situated on 36.82 acres at 710-780 Sepulveda Boulevard, Plaza El Segundo is located at the dominant intersection of Rosecrans Avenue and Sepulveda Boulevard (Pacific Coast Highway), which connects the affluent beach communities of Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo, and has combined traffic counts in excess of 110,000 vehicles per day.  

More than 167,000 residents earning an average annual household income of $100,192 live within three miles of the center.

The HFF debt placement team representing the borrower was led by senior managing director Kevin MacKenzie and associate director Matthew Stewart.


Matthew Stewart
“Despite some recent headwinds in the retail market, this transaction is a great example of the availability of capital for premiere retail properties with best-in-class sponsorship,” MacKenzie said. 

“There was strong interest in the opportunity given the A-plus location and tenant line-up, and it was a true team effort from all parties to get the most efficient capital in place for the asset plan.”

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

Kristen Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617-848-1572 | cell 617-543-4873 | hfflp.com


Rhodes+Brito Architects on Design Team for Heroes’ Commons at Jefferson Park in Parramore–A collaboration of City, ORR Foundation to Help Veterans Own a Home


Maximiano Brito
ORLANDO, FL --- A team of architects at Rhodes+Brito designed three of the six homes for veterans and their families at Heroes’ Commons at Jefferson Park, a collaborative housing development project by the Orlando Regional Realtor Foundation’s Art in Architecture Program and the City of Orlando. 

Maximiano Brito, AIA, co-founder and partner at Rhodes+Brito Architects said he and other firm members on the project Carl Shea, AIA and Loi Van Loon-Flink  donated their services, valued at more than $146,640 for the three homes that range from 1,384 to 1,534 square feet of living area.

Heroes’ Commons at Jefferson Park, located in Parramore community west of downtown Orlando, is a project that was designed to maximize connectivity between the homes in the neighborhood and provide a supportive and inclusive environment.

The new homeowners, with a legacy of service, will continue to serve by working with their fellow veteran neighbors and community leaders as advocates for the Parramore neighborhood.  

Thanks to the City of Orlando and the Art in Architecture Program’s collaborative efforts, funding partners and professionals who donated services, deserving veterans are moving into brand new mortgage-free homes providing a step toward financial independence and security.  

“Helping both the Parramore community and veterans who served and sacrificed so much for our nation is really close to all our hearts and we were delighted to give back in such a meaningful way,” said Brito.

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

Larry Vershel, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com


Wednesday, June 21, 2017

HFF arranges $19 million refinancing of Class A office building in Jacksonville, FL


One Deerwood Office  Building, Deerwood Park, Jacksonville, FL








Michael Weinberg
ORLANDO, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $19 million refinancing of One Deerwood, a 161,167-square-foot, Class A office building in Jacksonville, Florida.

HFF worked on behalf of the borrower, Taurus Investment Holdings, LLC, to secure the three-year, floating-rate loan through Ares Management.  HFF was also involved in the sale of the asset to Taurus in 2007.

One Deerwood is located within Deerwood Park, the largest, full-service multi-purpose park in Jacksonville and within the prestigious Butler Corridor submarket. 

The six-story property has excellent visibility from more than 108,000 cars per day due to its location at the interchange of J Turner Butler Boulevard and Routes 202 and 115. 

Additionally, the property is highly-amenitized being located near many of the area’s lifestyle and retail demand drivers, including St. Johns Town Center.  One Deerwood is leased to tenants, including CIT Bank, JMB of North Florida and Amports, Inc. 

The HFF debt placement team representing the borrower was led by senior managing director Michael Weinberg and director Porter Terry


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

Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
krmurphy@hfflp.com

HFF closes $4 million sale of fully-leased retail center near Orlando, FL



Celebration Village, Kissimmee, FL      (Photo lby Troy Morgan)
Whitaker Leonhardt
ORLANDO, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $4 million sale of Celebration Village, a 20,750-square-foot retail center in the Orlando-area community of Kissimmee, Florida.

HFF arranged the sale on behalf of the seller, TriGate Capital.  A private investor purchased the asset free and clear of existing debt.

Celebration Village is fully leased to eight tenants, including Sherwin-Williams and Domino’s Pizza.  Situated on 2.35 acres at 5455 West Irlo Bronson Memorial Highway, the center is located along the primary commercial corridor in the trade area, which has traffic counts of approximately 36,500 vehicles per day. 

Celebration Village is about one mile east of downtown Celebration, the nation’s first Walt Disney World-built master-planned community.  More than 25,787 residents earning an average annual household income of $65,246 live within a three-mile radius of the center.

The HFF investment sales team was led by associate director Whitaker Leonhardt and senior managing director Brad PetersonGregory Newman, principal with Keystone Commercial Real Estate, LLC, represented the buyer, who is a Michigan-based investor.

“There is tremendous demand for well-located retail strip centers, and we were successfully able to generate 10 offers within a very short marketing timeline,” Leonhardt said.  “This center has maintained a healthy historical occupancy and is ideally positioned in the submarket to benefit from all of the surrounding developments.”  

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

Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


Tuesday, June 20, 2017

29th Street Capital Expands into Sacramento, CA with Multifamily Acquisition


 
Woodmore Manor Apartments, Citrus Heights, CA

Citrus Heights, CA – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Woodmore Manor Apartments – its first property in the greater Sacramento region. The 110-unit multifamily community, located 15 miles northeast of downtown Sacramento, features one-, two- and three-bedroom units.

29SC has allocated approximately $1.3 million for capital improvements. Interior upgrades will include new granite countertops, stainless steel appliances, vinyl plank flooring, cabinetry and bathroom fixtures.

Exterior renovations will focus on balcony and patio improvements, new siding, fresh paint and energy-efficient windows. The property’s amenity package – clubhouse, fitness center and swimming pool – will be refreshed and enhanced as well. 29SC will also implement energy-efficient upgrades through the Freddie Mac Value-Add and Green financing program.


Casey Davis

“The Sacramento market is currently exhibiting very attractive market fundamentals and we are pleased to be expanding out footprint in the region,” said Casey Davis, 29th Street Capital’s Vice President of Acquisitions in Northern California.

The Citrus Heights submarket has experienced tremendous rental rate growth in recent years and surpassed 8% in both 2015 and 2016. Concurrently, vacancy has remained below 4%. 

The neighborhood is well-developed primarily by residential and retail and is conveniently located near Sunrise Mall, which is slated for major redevelopment in the coming years.

“Citrus Heights continues to be an ever-improving market,” Davis added. “Woodmore Manor is in a great location and near many daily conveniences. We believe this property is a perfect opportunity to demonstrate our value-add capabilities and provide value to current and future residents.”

The acquisition closed June 16, 2017. The sale price was not disclosed.

29th Street Capital has acquired 17 multifamily assets over the past 12 months and continues to actively pursue additional opportunities throughout the U.S. The firm will continue to target strategic value-add deals that are below the institutional radar, with the intention of offering its investors above-market returns.


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

Terri Thornton
Partner, Thornton Communications
Phone: 404-932-4347


http://www.facebook.com/pages/Thornton-Communications/112101288827299 http://twitter.com/Ttho http://www.linkedin.com/in/TerriThornton 

Monday, June 19, 2017

Continental Partners Secures $20.5 Million in Financing for Sheraton Grove Hotel Near Disneyland

  
Sheraton Garden Grove-Anaheim South Hotel, Garden Grove, CA

Mitch Paskover
GARDEN GROVE, Calif. (June 19, 2017) – Commercial real estate investment banking firm Continental Partners has secured $20.5 million in fixed-rate, non-recourse refinancing for the Sheraton Garden Grove-Anaheim South Hotel, a 285-room hotel near the Disneyland theme park. 

The financing was arranged by Continental Partners President Mitch Paskover.

“The Orange County hotel sector is experiencing remarkable growth and outperforming other U.S. markets,” notes Paskover. “Driven by a thriving tourism industry, the region’s hotel market continues to demonstrate annual RevPAR growth and occupancy rates that are above national averages. 

"Based on these fundamentals, there is strong investment activity and sustained lender appetite for quality hotels with high average daily rates throughout Orange County.”

According to a report by CBRE, average daily rates in the Orange County market are projected to increase 3.5 percent in 2017. Market occupancies average 77 percent, far outpacing the national average of 65.4 percent.