Monday, July 31, 2017

Doug Burt Joins 29th Street Capital as VP of Multifamily Acquisitions in Central Texas


Doug Burt

Houston, TX (July 31, 2017) – Doug Burt has joined 29th Street Capital (29SC) as Vice President of Multifamily Acquisitions for Houston and Central Texas.

Burt is responsible for all facets of the privately-held real estate investment and advisory firm’s multifamily acquisitions and asset management strategies in this region.

 He will target opportunistic and value-add acquisitions in the market with the goal of expanding the company’s presence in the region and add to the existing portfolio, which consists of seven assets and over 2,000 units.

“We are extremely pleased to have Doug join our acquisition team,” said 29th Street Capital Senior Vice President Javier Bustillo. “He has an established track record of success in Texas and will play a key role in our company’s continuing expansion.”

“I’m excited to be joining an extremely well-capitalized, yet still very entrepreneurial company like 29th Street Capital,” Burt said. “I’m looking forward to growing the company’s portfolio throughout the Texas markets.”

Javier Bustillo
Prior to joining 29th Street Capital, Burt spent the past three years at Tarantino Properties where he helped lead the multifamily acquisition and brokerage departments. 

His responsibilities included underwriting, sourcing investment opportunities, negotiations and new business development. 

Having conducted sales and acquisitions of value-add multifamily properties throughout the state of Texas, Burt has a proven record in all aspects of multifamily real estate investments. 

He possesses a strong understanding of multifamily financial analysis, market conditions and investment principles. Burt earned his BBA in Real Estate at the University of North Texas.

In addition to sourcing and completing acquisitions, his responsibilities at 29SC include complete oversight of projects; selecting third-party management; and overseeing all capital projects, marketing/design and dispositions.

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

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

Email: Terri@TerriThornton.com 

Florida Retail Partners Negotiates Deal to Bring Bento Café to Downtown St. Petersburg, FL


 
Sandia Wasserman

ST. PETERSBURG, FL -- With much anticipation, Bento Asian Kitchen + Sushi, a quick-casual pan-Asian restaurant with 9 locations throughout Florida, will officially introduce its concept to downtown St. Petersburg.

Florida Retail Partners, an X Team partner, represented Bento in the 2,710 square foot deal with Joshua Sims of Vector Realty representing the landlord. The location is set to open at 330 Third Street South – in the base of the AER apartment building near the University of South Florida St. Petersburg campus. 

The Downtown St. Pete location will be the 11th restaurant for Bento Café.  “Bento and downtown St. Pete are a great match, said Sandia Wasserman of Florida Retail Partner who negotiated the deal. It’s already one of my favorite lunch stops in Gainesville.” Bento currently has restaurants in Gainesville, Tallahassee, Jacksonville, Orlando, as well as South Florida. 

Johnny Tung
“We’ve been eyeing the Tampa Bay market for a few years now,” Bento Group owner Johnny Tung said. “Specifically, the downtown development boom in St. Petersburg has been amazing to watch.

“The growing business district, residential condo boom, nearby USF St. Petersburg campus, and the notable hospitals make the area a thriving market.  Bento Café will be a great addition to downtown St. Pete with affordable grab and go lunch and dinner options. We’re also looking at locations in South Tampa and USF Tampa next.”

Bento Café, which plans to open in the spring of 2018, will feature 80 seats along with outdoor sidewalk tables. A few things that have gained Bento a loyal following, and prompted further expansion include:

A vast, customizable menu including bento boxes, noodles and sushi
Quick, casual service to cater to the constantly-growing "on-the-go" population
A sleek, contemporary atmosphere modeled after popular cafes found in urban Taiwan and Japan.

Affordable prices with most dishes in the $7-$10 range, Catering offered.

Bento Asian Kitchen + Sushi is an Orlando-based quick-service restaurant serving pan-Asian cuisine. 

Its menu includes sushi, rice and noodle bowls, bento boxes, and teas.  Founded in 2002, Bento has plans of continued growth with several locations across Florida, and a team of over 400 individuals.

 X Team partner Florida Retail Partners was founded in 1997. Its Florida Retail Real Estate Specialists all have over twenty years of experience.  

The company’s focus has always been on retail tenant and landlord representation on Florida’s West Coast and Central Florida. This exclusive focus on retail includes diverse assignments ranging from tenant representation, land sales and consulting to leasing of both distressed properties in need of turnaround and upscale mixed-use projects with very specific co-tenancy parameters.


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

Johnny Tung, Bento Cafe LLC                         
Sandia Wasserman, Florida Retail Partners
407.999.8989                                               
813.251-3333




WoodSpring Hotels Finalizes Brand Repositioning



Gary DeLapp
WICHITA, KS, July 31, 2017—WoodSpring Hotels, the nation’s fastest-growing value extended-stay hotel company, today announced that it has begun the final process of its previously announced brand repositioning, with 171 hotels having completed the process and an additional 15 properties in the final stages.

The transition touched on virtually all aspects of the hotel, ranging from new employee uniforms and name tags to brand-wide free wireless internet access in all public spaces and guestrooms. 

All hotels also received new interior signage, in-room collateral and marketing materials, as well as new bedding and exterior signage.

“The entire rebranding process was a direct result of an enormous amount of consumer research that allowed us to target what is most important and valuable to our guests,” said Gary DeLapp, WoodSpring President and CEO.  “We now are well-positioned as the leading value, extended-stay hotel company in the country.  This allows us to better communicate the quality of our portfolio and expand our reach to new customer segments.”

To inform current and future guests of its new messaging, WoodSpring also refined its marketing efforts.  The brand’s new messaging centers on the “Suites, Kitchens and Wi-Fi, Oh My” theme through its digital components, while on-property assets encourage continued engagement by downloading its newly launched Mobile Quick Link and encouraging guests to book direct with WoodSpring.  All components, digital and otherwise, are now live.

“Now that the repositioning process has entered its final phase, we are embarking on an ambitious plan, utilizing all the marketing tools at our disposal, to get the word out to customers on the local, regional and national levels,” said Wendy Hoekwater, WoodSpring Chief Marketing Officer.

Wendy Hoekwater

 “Along with physical improvements to the hotels, we have completely upgraded and improved everything from our website to our mobile booking capabilities, all in an effort to let value-minded travelers know that we have listened to the marketplace and responded with the best product available in our space.” 

Additionally, targeted sales strategies and plans were created for each local market to convey the new changes to consumers.  On the national level, the brand launched its new website, www.woodspring.com, which included new photography guidelines, as well as making content updates across all sites, contact centers, social media guest review and consumer feedback portals.  WoodSpring also updated its phone systems and scripts.
  
“We constantly are engaging with both our guests and Franchise Partners to ensure that the WoodSpring brand provides what they want and need at a reasonable rate,” DeLapp added.  “WoodSpring helped to create the value extended-stay segment, and today we move that much closer to perfecting it.”


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

CHRIS DALY
PRESIDENT
DALY GRAY PUBLIC RELATIONS, INC.
620 Herndon Parkway, Suite 115 | Herndon, VA 20170
Main: 703-435-6293
Mobile: 703-864-5553
chris@dalygray.com | www.dalygray.com


The Keyes Company Wins Big at the LeadingRE Annual Conference



Denisese Talboy

MIAMI, FL, July 31, 2017 – The Keyes Company, Florida’s largest independent real estate company, received four awards at the LeadingRE Annual Conference for its dedicated work in the industry in 2016.

LeadingRE is made up of the world’s top independent brokerages. Represented in more than 60 countries, the organization’s 565 company members include more than 130,000 associates producing over 1 million transactions valued at over $368 billion annually.

 The firm’s Global Relocation and Corporate Services department took home four awards, including Referral of the Year, Global Alliance Referral Award and RELO Direct® Ambassador award. The department’s Vice President, Denise Talboy, was awarded the Chairman’s Service Award.

Mike Pappas
The department was also named a finalist for the Diamond award, LeadingRE’s highest honor, which acknowledges outstanding performance and engagement in all of LeadingRE’s business programs.

“We’re proud of the hard work, professionalism and results of our Global Relocation and Corporate Services department,” said Keyes CEO Mike Pappas. “Without them, we would not be the company we are today.”

“It’s an honor to bring home multiple awards for Keyes,” said Talboy. “We love what we do, and to be recognized and awarded for it among so many great companies around the world is truly something special.”

The 2017 conference was held in Miami and welcomed brokers from firms across the world.


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

Eric Kalis, BoardroomPR

954-370-8999

Saturday, July 29, 2017

Strategic Storage Growth Trust, Inc. Acquires Newly Constructed Self Storage Facility Near Charleston, SC






H. Michael Schwartz
CHARLESTON, S.C. –– Strategic Storage Growth Trust, Inc. (“SSGT”), a public non-traded real estate investment trust sponsored by SmartStop Asset Management, LLC, announced its purchase of a 500-unit, newly-constructed self storage facility in the Charleston, South Carolina suburb of Mount Pleasant for $5.7 million.

“This modern self storage facility is 100 percent climate controlled and easily accessible to renters via Interstate 526 and other heavily trafficked thoroughfares,” said H. Michael Schwartz, chairman and chief executive officer.

“The property presents an opportunity to add significant value to the portfolio of Strategic Storage Growth Trust as our professional management team leases up the facility, which is currently approximately 16 percent leased. This acquisition fits our investment strategy, which is to acquire attractive value-add opportunities.”

Located at 701 Wando Park Blvd., the three-story structure is situated on approximately 1.5 acres of land and includes roughly 48,000 rentable square feet.

With this latest acquisition, the portfolio of SSGT is now comprised of more than 12,900 self storage units in 9 states.

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

Julie Leber
Damon Elder
Spotlight Marketing Communications
949.427.5172, ext. 703
949.427.5172, ext. 702

www.smartstopassetmanagement.com.

Marcus & Millichap Brokers $6.5 Million Sale of Howell Branch Corners in Casselberry, FL



Douglas K. Mandel
CASSELBERRY, FL  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Howell Branch Corners, a 14,765-square foot retail property located in Casselberry, FL, according to Ryan Nee, Vice President/Regional Manager of the firm’s Fort Lauderdale office.

The asset was 77 percent occupied at the time of sale and sold for $6,525,000 or $442 PSF.
Douglas K. Mandel, Senior Managing Director Investments, in Marcus & Millichap’s Fort Lauderdale office and Nicholas Hanson, Associate, in Marcus & Millichap’s Orlando office, had the exclusive listing to market the property on behalf of the seller, a partnership, and secured and represented the buyer, a limited liability company.

Mandel states, “The transaction demonstrates the continued trend of capital inflow to Orlando from primary markets by investors seeking higher yields and the non-stop demand for quality retail assets throughout the MSA from out of area buyers attracted by the regions strong fundamentals and future growth potential.”

Howell Branch Corners is located at 2525 Howell Branch Road in Casselberry, FL.

Nicholas Hanson
Shadow-anchored by a Casselberry Commons, the property is located at the signalized corner of Howell Branch and Semoran Boulevard, one of the busiest thoroughfares in the Orland, offering tenants excellent exposure. 

Howell Branch Corners is a 14,765-square foot, premium retail plaza boasting national tenants such as Starbucks, BB&T and T-Mobile.

“Buyers are seeking premium assets in non-traditional-class A locations where they can achieve strong returns with the opportunity to add value,” continues Hanson.

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

Ryan Nee
Vice President / Regional Manager, Fort Lauderdale

(954) 245-3400

Del Webb Stone Creek in Ocala, FL Launches New Floor Plan with 12 Different Elevations



Sean Strickler
OCALA, FL. --- Del Webb Stone Creek released a new floor plan that offers enough customizable options and ample storage space to satisfy any lifestyle – the Crestview home design in the homebuilder’s Garden Series, priced from the $183,990.  

Sean Strickler, president of Del Webb’s West Florida Division, said the new Crestview home design at Stone Creek offers 12 elevations, and a loft option with a living area, bedroom and full bath that adds 741 square feet.

“As part of our consumer-inspired feedback, we’re excited to introduce the Crestview, an innovative home design featuring an optional multi-generational suite,” said Strickler.  

The Crestview’s design features two to four bedrooms, two to three-and-a-half baths, a two-car garage and a covered lanai.   Homebuyers can access Del Webb’s interactive online floor plan to customize available options, such as a multi-generational suite downstairs or second story with a loft, an extra bedroom or den in lieu of the flex room, or extended covered lanai and extended patio.

“Consumer trends are heading toward more multi-generational households due to a number of factors and we can accommodate those needs with our flexible plans,” Strickler said.

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

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-461-3780 or 407-644-4142; lvershelco@aol.com
  

Friday, July 28, 2017

HFF closes sale of 5-building Class A industrial project in Houston, TX


Bammel Business Park, Northwest Houston, TX


Rusty Tamlyn
HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Bammel Business Park, a five-building, Class A industrial project totaling 246,450 square feet in in northwest Houston, Texas.

HFF represented the seller, FR/Cal Bammel.  Exeter Property Group purchased the property for an undisclosed price. 

Bammel Business Park is situated on 14.1 acres at 4710-4822 North Sam Houston Parkway West (Beltway 8) in the Northwest Industrial submarket, Houston’s premier industrial submarket.

  The property has immediate access from Beltway 8 in addition to visibility from more than 150,000 vehicles per day and proximity to Bush Intercontinental Airport. 

Completed in 2008, Bammel Business Park features 24-foot clear heights, dock-high loading doors, 200-foot shared truck court depths and 12.6 percent office finish.  The one-story buildings are leased to a diverse tenant mix, including Gruma Corporation, Stylenquaza and Motion Industries.

HFF’s investment sales team was led by senior managing director Rusty Tamlyn and senior director Trent Agnew.

“This offering generated substantial interest due to the value-add nature, deal size, newer product in northwest Houston and very little product on the market for sale,” Tamlyn said.

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 Kroger-anchored retail center in the Memphis MSA



Bartlett Towne Center, Bartlett, TN

Jim Hamilton
ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Bartlett Towne Center, a 192,624-square-foot, Kroger-anchored neighborhood retail center in the Memphis-area community of Bartlett, Tennessee.

HFF marketed the property for the seller, Weingarten Realty Investors.  Branch Properties, LLC purchased the asset free and clear of existing debt.

Located at 6045 Stage Road, Bartlett Towne Center is situated at the “main and main” intersection of Stage Road and Bartlett Boulevard, which, with more than 62,000 vehicles per day, is one of the most heavily traveled intersections in the trade area. 

More than 75,000 residents earning average annual income of $68,950 live within a three-mile radius of the center. 

In addition to Kroger, the 94-percent-leased Bartlett Towne Center is home to Petco, Dollar Tree, Shoe Carnival, Rent-A-Center, Sally Beauty, FedEx, Ups Store, O’Charley’s, Mattress Firm, Cato, Supercuts and AT&T.

Richard Reid
The HFF investment sales team representing the seller was led by senior managing directors Jim Hamilton and Richard Reid and associate Brad Buchanan.

“Bartlett Towne Center represented a rare opportunity to acquire a dominant, high-performing Kroger-anchored shopping center in the fast-growing Memphis MSA,” Hamilton said.

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 secures $110 million refinancing for 7-building office portfolio in the Dallas. TX area



International Business Park III, Dallas-Fort Worth Area, Texas

DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $110 million refinancing for a seven-building office portfolio totaling 801,153 square feet in the North Dallas-area communities of Plano and Carrollton, Texas.

Trey Morsbach
Representing the Billingsley Company, HFF secured a three-year, floating-rate, non-recourse loan with two one-year extension options through Ares Commercial Real Estate Corporation (NYSE: ACRE).  Proceeds of the loan will be used to refinance the existing debt and fully stabilize the property.

The portfolio buildings are located at 4000, 4120, 4100, 6400, 6404, 6500 and 6504 International Parkway within the International Business Park, a 50-acre office park located in Plano and Carrolton.

 The buildings are situated near the northwest intersection of two of the most heavily trafficked highways in the Dallas-Fort Worth area, The Dallas North Tollway and President George Bush Turnpike.

 Completed between 1997 and 2001, the two- and three-story buildings are 87 percent leased.  The portfolio features 24-hour security, on-site management and maintenance, a health club, café, gas grills for corporate and campus events and an abundance of green spaces.

The HFF debt placement team representing the borrower was led by senior managing director Trey Morsbach and senior director Jim Curtin.


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 $12.8 million refinancing for grocery-anchored retail center in Orlando, FL


Adanson Marketplace, Orlando, FL

Michael Weinberg
ORLANDO, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $12.8 million refinancing for Adanson Marketplace, a 156,377-square-foot retail center anchored by Walmart Neighborhood Market in Orlando, Florida. 

HFF worked on behalf of the sponsor, Cutwater Capital LLC, to place the floating-rate loan with Iberia Bank.  Loan proceeds will be used to pay off an existing loan and provide capital for future leasing.

Anchored by a new Walmart Neighborhood Market and Fuel Center completed in November 2016, Adanson Marketplace is home to a variety of national and regional tenants, including Dollar Tree, Sam Ash Music Store, Metro PCS, McDonald’s and La Spada’s Subs. 

The center recently underwent significant renovations, including updating the façade, storefronts, sidewalks, landscaping and parking areas.  Situated on 14.7 acres at 902-1028 Lee Road, the center is located in an infill location along Adanson Street and Lee Road, which serves as a major east-west commercial corridor through Central Florida and exposes the center to approximately 45,000 vehicles per day.

Brad Peterson
 Additionally, Adanson Marketplace is one-third of a mile from Interstate 4, Central Florida’s busiest highway.

The HFF debt placement team was led by senior managing directors Michael Weinberg and Brad Peterson.

“Despite all the headlines about the downfall of retail, there is still plenty of debt capital out there for grocery-anchored and necessity-based shopping centers like this one,” Weinberg said.

HFF recently secured financing for another Orlando grocery-anchored center, Main Street Square, in a previously announced transaction.

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 newly developed creative office tower in Portland’s Pearl District


Pearl West Office Property, Portland, OR

PORTLAND, OR –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Pearl West, a newly developed, 155,465-rentable-square-foot Class A office tower in Portland, Oregon.


Nick Kucha
HFF marketed the property on behalf of the seller, Walter C. Bowen’s BPM Real Estate Investments LLC, and procured the buyer, LaSalle Investment Management. 

Completed in 2016, Pearl West is a LEED Gold-certified, mid-rise office tower that blends creative office suites with high-street retail.  The property features 17,800-square-foot typical floorplates, parking for 150 vehicles, storage for 87 bicycles and tenant shower and locker facilities.

 Currently, 89 percent leased, Pearl West is home to tenants, including Wacom, Zoom+, Regus and Howard S. Wright.  The property anchors the west side of Portland’s Pearl District and is situated directly next to Interstate 405, providing visibility to more than 120,000 vehicles per day.

 Additionally, the property has a Walk Score® of 98, a Transit Score® of 90 and a Bike Score® of 97 being located within a quarter mile of more than 2,200 apartment units, 1.5 million square feet of office space and more than one million square feet of retail space.

“HFF did an excellent job identifying a buyer who recognized the value Pearl West has created for a well-designed building in a prime Pearl District location,” said Walter Bowen, CEO, BPM Real Estate Investments.  “Pearl West will stand the test of time for its innovative design and for the best-in-class tenants who value office environments that feed creativity, innovation and hard work.”

The HFF investment sales team representing the seller was led by senior managing director Nick Kucha and included director James Childress and associate Logan Greer.

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 secures $43.34 million financing for repositioning of Concord Airport Plaza in Concord, CA


Chris Gandy

SAN FRANCISCO, CA – July 12, 2017– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $43.34 million in financing for Concord Airport Plaza, a two-building office property totaling 350,256 square feet in Concord, California.

HFF placed the five-year, floating-rate loan with ACORE Capital, a leading commercial real estate finance company.  Loan proceeds will be used to reposition the property.

Concord Airport Plaza is situated on a 7.94-acre site at 1200 and 1220 Concord Avenue less than two miles from the Concord BART Station in the East Bay area. 

 This location has a robust amenity base, including retail offerings at Heritage Square, the Pleasant Hill Shopping Center and Sun Valley Shopping Center and freeway access via Interstate 680 and Highways 242, 4 and 24. 

The HFF debt placement team was led by director Chris Gandy and associate Christie Donnelly.



For investors, ACORE is focused on generating alpha through attractive commercial real estate debt investments coupled with superior risk management. ACORE is led by commercial real estate finance veterans Boyd Fellows, Stew Ward, Chris Tokarski and Warren de Haan

For more information, please visit www.acorecapital.com. 
  
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



   

Preferred Apartment Communities, Inc. Announces Acquisition of a Grocery-Anchored Shopping Center Through its Wholly-Owned Subsidiary, New Market Properties, LLC

  
 
Joel T. Murphy
 ATLANTA, GA -- Preferred Apartment Communities, Inc. (NYSE: APTS) ("PAC" or the "Company")  announced the acquisition on July 26, 2017 of Irmo Station, an approximately 99,384 square foot shopping center located in the Columbia, South Carolina MSA and anchored by a 56,942 square foot Kroger grocery store.

 Irmo Station is strategically located just one mile off of Interstate Highway 26 (I-26), the main highway connecting Greenville, South Carolina to Charleston, South Carolina through Columbia.

PAC acquired this asset through its wholly-owned subsidiary New Market Properties, LLC. Joel T. Murphy, President and Chief Executive Officer of New Market said about the acquisition, "We are thrilled to partner again with Kroger on this high sales volume location, and we believe the tenants at Irmo Station will continue to benefit from the surrounding dense three mile population of approximately 42,000 people and the affluent households with incomes of over $82,000."

Mr. Murphy added, "The acquisition of Irmo Station increases the size of our retail portfolio to 34 grocery-anchored shopping centers across seven Sunbelt states, consistent with our strategy to acquire well-positioned grocery-anchored shopping centers in suburban Sunbelt markets with strong demographics."

The Company financed the acquisition utilizing a non-recourse first mortgage loan from Nationwide Mutual Insurance Company.  The first mortgage loan is approximately $10.65 million, bears interest at fixed rate of 3.94% per annum and matures on July 26, 2030.  There are no loan guaranties provided by PAC or its operating partnership.

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

Caroline Moore • The Wilbert Group
1720 Peachtree St., Suite 350 • Atlanta, GA 30309
O: 404-254-1484 • M: 843-360-9851

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HFF closes sale of Fletcher Parkway Medical Center on San Diego’s Sharp Grossmont Campus


Fletcher Parkway Medical Center, La Mesa, CA
                                                                                                               (Photo by Bill Robinson)

 
Evan Kovac
SAN DIEGO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Fletcher Parkway Medical Center, a mission-critical, 82,024-square-foot, three-story medical office building in the San Diego suburb of La Mesa, California.

HFF marketed the property on behalf of the seller, The Abbey Company.  Anchor Health Properties purchased the fee-simple asset free and clear of existing debt.

Fletcher Parkway Medical Center is located adjacent to the award-winning Sharp Grossmont Hospital just north of the Interstate 8/California 125 interchange in La Mesa. 

Anchored by Sharp HealthCare, the property features services, including imaging, a Surgical Care Affiliates (SCA) surgery center, radiology, laboratory, diagnostics, cardiology, pediatrics, ophthalmology, rehabilitation and hospice.

The HFF investment sales team representing the seller was led by managing director Evan Kovac, associate Andrew Milne and senior associate Trent Jemmett.

“Fletcher Parkway Medical Center represented the rare opportunity to acquire an institutional-quality, value-add medical office building on the campus of a market-leading, West Coast healthcare system,” Kovac said.  “The new owner has the ability to lease the remaining vacant space in a submarket where occupancy and rental rates are near record highs.”


Andrew Milne
The Abbey Company is a privately held real estate investment and management firm founded in 1990 by Donald G. Abbey to acquire and manage value-added real estate investments for its own account. 

Since inception, the company has acquired a diverse commercial real estate portfolio in Central, Southern and Northern California.  

The company brings a unique and focused owner/operator perspective in identifying investment opportunities and executing management and leasing strategies to enhance asset value, generate attractive investment returns and maximize operating cash flow.

 Having successfully executed its business plan, the company has grown its current portfolio size to over 34 properties encompassing around three million square feet and approaching 800 tenants. 

For more information, please visit http://www.theabbeyco.com/.

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

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | hfflp.com


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HFF closes $11 million sale of value-add Denver-area retail center

  
Willow Creek Shopping Center, Centennial, CO

DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $11 million sale of Willow Creek Shopping Center, a 163,412-square-foot, value-add retail center in the Denver suburb of Centennial, Colorado.

HFF marketed the property on behalf of the seller, and procured the buyer, an entity controlled by Miami-based Jewell Capital, LLC.

Willow Creek Shopping Center comprises three buildings and four freestanding pad sites, two of which were not included in the sale.

Originally completed in 1984 as a grocery-anchored center, the property was most recently renovated in 2005 and is home to a variety of tenants, including Vasa Fitness, Willow Creek Wine & Spirit, The UPS Store, Level 4 Yoga, Arc Thrift and Busy Little Hands. 

Willow Creek Shopping Center is situated on 21.4 acres at 8100, 8150, 8220, 8210, 8220 and 8260 South Quebec Street at the northeast corner of Quebec Street and County Line Road, which has a traffic count of more than 75,000 vehicles per day.  More than 105,900 residents earning an average annual household income of approximately $127,084 live within three miles of the center.

The HFF investment sales team was led by managing director Jules Sherwood.

“The buyer saw great long-term potential in this cash-flowing value-add asset,” Sherwood said.  “Its irreplaceable location at County Line and Quebec is a great fit for the investor’s long-term strategy.”

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

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | hfflp.com


HFF closes the sale of Church Ranch Office Center in Westminster, CO



Church Ranch Office center, Westminster, CO

 DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Church Ranch Office Center, a two-building office complex totaling 183,664 square feet in the Denver community of Westminster, Colorado.

HFF marketed the property on behalf of a special servicer and procured the buyer, a large private equity firm based in New York City.

Jules Sherwood
Church Ranch Office Center is situated 10 miles north of Denver’s central business district at 10170 and 10249 Church Ranch Way.  

The 11.725-acre site is spread across two parcels and is close to U.S. 36 and Interstate 25, providing access to Boulder, Denver and the greater metro area.

  Completed in 2000 and 2001, Church Ranch consists of Building IV, which is a four-story, multi-tenanted property, and Building II, which is a two-story, single-tenant property.  At the time of sale, Church Ranch was 91 percent leased and 57 percent occupied.

The HFF investment sales team representing the seller was led by managing director Jules Sherwood.

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

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | hfflp.com

HFF arranges $28 million refinancing for mixed-use building in Brooklyn’s Boerum Hill


110 4th Avenue, Boerum Hill Neighborhood, Brooklyn, NY


NEW YORK, NY -– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $28 million refinancing for 110 4th Avenue, a mixed-use multi-housing, retail and office building in Brooklyn’s Boerum Hill neighborhood.

HFF worked on behalf of the borrower to secure a 10-year, fixed-rate, interest-only loan, which represented an estimated 75 percent loan to value.

Scott Aiese
110 4th Avenue has a mix of 49 studio, one- and two-bedroom residential units and 5,197 square feet of retail/medical office space on the ground floor.  Amenities include a concierge, common room and fitness center with most units featuring balconies and/or in-unit washers and dryers. 

Situated less than half of a mile southwest of Barclays Center, the property is near multiple subway stations, including the D, N, R, 2, 3, 4, and 5 trains.  The 100-percent-leased property was completed in 2007 and is subject to a 421a tax abatement.

The HFF debt placement team representing the borrower was led by managing director Scott Aiese.

“In a deal that had complicated rent abatements burning off over time, HFF sourced a group that was able to fully understand the intricacies of the underwriting and perform extremely well for the client, which is a testament to the quality of both the sponsor and the asset,” Aiese said.

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

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | hfflp.com

HFF closes sale of and arranges $9.5 million financing for Corporetum Office Campus VI in suburban Chicago


Rendering of Planned Corporetum Office Campus VI, Lisle, IL
                                                                                                    (photo by Connor Steinkamp)

 
Jaime Fink

CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged the acquisition bridge financing for Corporetum Office Campus VI, a two-building office property totaling 168,698 square feet in the western Chicago suburb of Lisle, Illinois.

HFF marketed the property on behalf of the seller, Winthrop Liquidation Trust, and procured the buyer, Center Core Properties, an Evanston, Illinois-based real estate investment firm that targets opportunistic investments in up-and-coming markets. 

Additionally, HFF worked on behalf of the buyer to secure the three-year bridge loan through Thorofare Capital that includes a facility for capital improvements and leasing costs.

Corporetum Office Campus VI is located at 550 and 650 Warrenville Road within the larger Corporetum Office Campus in Lisle.  This location is adjacent to Interstate 88 near the Interstate 355 interchange and about 25 miles west of downtown Chicago and 25 minutes from both O’Hare International and Midway Airports.

Jeff Bramson
 The four- and five-story buildings are 83.2 percent leased to tenants, including Fairway Mortgage, Primera Engineers, ABM Janitorial, Circle K and United Health Care. 

Amenities at the two-building campus include a fitness center, conference center, on-site café and deli, outdoor tenant balconies and 575 surface parking spaces.

The HFF investment sales team representing the seller comprises Patrick Shields, Jaime Fink, Jeff Bramson and Bryan Rosenberg. 

HFF’s debt placement team consisted of Trent Niederberger and Christopher Carroll.


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

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | hfflp.com