Tuesday, January 24, 2017

Meridian Capital Group’s Florida Office Announces Four Recent Transactions Totaling $36.4 Million

Noam Kaminetzky
Boca Raton, FL, Jan. 24, 2017, - Meridian Capital Group, America’s most active debt broker, announces four closed transactions in Florida.

A new mortgage of $11.1 million was placed by Meridian on the 156-unit Essex House Apartments, located in West Palm Beach, FL. The five-year loan features a fixed rate of 3.63% and was negotiated by Senior Vice President, Russ Drebin.

Meridian negotiated $10.6 million in financing for the 184-unit Shoreview at Baldwin Park multifamily property in Orlando, FL. The seven-year loan features a floating rate of 2.61% over the 30-day LIBOR rate and was negotiated by Senior Managing Director, Abe Hirsch.

A new mortgage of $7.5 million was placed by Meridian on the Lake City Professional Plaza, a 96,350 square foot office center, located in Lake City, FL. The seven-year loan features a fixed rate of 4.00% and was negotiated by Managing Director, Noam Kaminetzky and Vice President, Avi Geller.

Meridian arranged $7.2 million in financing for the purchase of a 266-pad manufactured housing community, Aloha Mobile Home Park, in Sarasota, FL. The three-year bridge loan features a fixed rate of 6.50% and was negotiated by Senior Vice President, Jim Bologno.

Founded in 1991, Meridian Capital Group is America’s most active debt broker and one of the nation’s leading commercial real estate finance advisory firms. In 2016, Meridian closed $35 billion in transaction volume.

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

Jonathan Stern
Meridian Capital Group

Randolph Williamson and Building God’s Way Announce Partnership

Mark Williamson

ATLANTA, GA and PEACHTREE CITY, GA (Jan. 24, 2017) – Randolph Williamson, the Peachtree City-based commercial real estate and construction firm, announced today its partnership with Building God’s Way (BGW).

BGW works with churches across the country to integrate financially sustainable business models that can become a true catalyst for ministry growth, while providing ministries with self-sustaining revenues and a lower existing cost structure.

Don Mahoney
“In order to make a difference we need to have a vision, and that vision needs to be bigger than the building we’re trying to build,” said Don Mahoney, partner architect with BGW. 

“By creating financially sustainable alternatives such as event centers, assisted living and pre-K day cares, we’re meeting the needs of the community and simultaneously embedding the church into the larger community.

 Partnering with Randolph Williamson is a real blessing, and we’re looking forward to making a difference with them.”

Led by Mark Williamson, Randolph Williamson’s construction team brings particular expertise in building projects for religious organizations.

“As the leader of our construction division I’ve spent my life building, and it is so nice to be able to build something that matters,” Williamson said. “I am excited to partner with BGW as a team. When architects, contractors and subcontractors work together, we are able to deliver a better product

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

HFF closes sale of retail condo at famous Hollywood and Vine intersection in Hollywood, CA

Katsuya Restaurant, Hollywood Boulevard and Vine Street, Hollywood, CA
                                                                                                                               (Photo by Mark Weisberg)

NEWPORT BEACH, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of a fully-leased trophy retail property located on the iconic Hollywood Boulevard and Vine Street intersection in Hollywood, California.

HFF marketed the property on behalf of the seller, HPD Hollywood Vine, LLC, a partnership between HP Investors and Drake Capital.  Nahla Capital purchased the asset free and clear of existing debt.

The Hollywood and Vine retail condo is anchored by Katsuya, one of the premier Japanese restaurants in the world and a frequent stop for Hollywood A-listers and Zagat critics. 

Additional tenants of the fully-occupied property are The Pie Hole, a family-run bakery with a strong local following, and Body Energy Club, a regional vitamin and nutritional supplement store.  The property represents the ground-floor of the historic Broadway Hollywood Building, built in 1928 and renovated in 2008. 

Hollywood Walk of Fame Fronts Katsuya Restaurant Building,
Hollywood Boulevard and Vine Street, Hollywood, CA
                                                                                                             (Photo by Mark Weisberg)
The property has a Walk Score® of 94 and is across the street from the Hollywood and Vine Metro Station, which serves nearly 4.5 million passengers per month. 

Additionally, the renowned Hollywood Walk of Fame fronts the property.

 The HFF retail investment sales team representing the seller was led by director CJ Osbrink and managing directors Gleb Lvovich and Bryan Ley.

Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

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

George Smith Partners’ David Ari Rifkind Dies From Rare Disease

                                    David Ari Rifkind  (March 17, 1965 - January 23, 2017)

SIMI VALLEY, CA, Jan. 24, 2017 – David Ari Rifkind, a co-founder of George Smith Partners, has died at 51 from a very rare, rapidly degenerative and incurable neurological disease, the company said.

He passed away early yesterday, surrounded by his family and friends. His devotion to his family was well known, and our hearts go out to his wife Helen, his sons Aaron and Jonathan, his daughter Jillian, his sister Donna and her husband, Joe.

David will always be remembered at GSP as a kind person, generous of spirit, with no pretensions or ego.   While very successful throughout his career as an investor, broker and lender, he remained humble and sincere.

 He was a great listener and cared about what people had to say. When he spoke, we listened, because his comments and insights were thoughtful and well-informed.

David’s choice of words connoted his optimistic outlook on life. His email sign-off was “Kindly,” and when asked how he was, he always responded “delightful.” When complimenting someone on a job well done or personal achievement, he always said “fabulous.”

In our cyclical and stressful business, with highs and lows, David was always calm, deliberate and thoughtful, like a “Zen master.”   

David grew up in Encino, the son of Jesse and Thelma Rifkind.   Jesse was a key member of the legendary Xerox PARC Research Lab, which was known for developing the computer mouse and laser printer.   

Thelma had a Masters in Ornithology and was a career occupational therapist.  
 David often spoke proudly of his parents’ accomplishments and the loving and supportive upbringing they provided him and his sister.

David attended elementary school in Encino, Portola Junior High and Birmingham High School. He graduated from USC in 1987 with Bachelor of Arts Degrees in History and International Relations.  

While David was an expert in real estate and finance, David’s interests and intellectual curiosity went well beyond our business.    He was a classic “Renaissance Man:” he could discuss a wide variety of subjects including history, current events, wines, music (including jazz, rock and classical) and modern art.

 David was a savvy and discerning collector, especially of the great LA artists of the 1960s such as Ed Ruscha and others.  His childhood curiousity in photography developed into a lifetime of collecting photographic fine art as well as being an excellent photographer in his own right.
If you wanted to know where to find the best BBQ in Kansas when refueling a private plane from LA-NYC, or selecting a perfect wine with a steak meal, just ask David.

As a treasured community leader, David has been serving as Chair of the Board of Jews for Judaism, a Board Member of the Ziegler School at AJU and Ilan Ramon Day School and has been active in the Real Estate Cabinet of the Jewish Federation and the American Israel Public Affairs Committee (AIPAC), among numerous other organizations. He ran the building committee for the Heschel Day School as they worked on a major expansion.

David’s real estate career started early.   He bought his first building at age 22, persistently “camping out” at the owner’s office until he put the project into contract.   David then assembled a capital structure with a community bank and equity that included a cash advance from his personal credit card.

David went on to own and develop multiple properties, utilizing his market knowledge and ability to command the metrics of specific markets to help him get an edge.

David and his wife, Helen, have been married for 25 years. David’s whole world revolved around his family. 

 Whether it was Aaron’s graduation from USC and landing a prestigious position at AIPAC in Washington D.C., Jonathan’s budding broadcast career at University of Oregon, or Jillian’s equestrian and photographic exploits, David reveled in his children’s success.   We admired his dedication to his family and he was a role model for us all. 

As a co-founding Principal of GSP, David was a mentor to our firm’s younger members, not just in business, but in how to live life to its fullest.

We will miss David and will never forget him.

David Rifkind…A life well lived.

The funeral for David Rifkind z”l will be held Wednesday, January 25th at 12:30 pm at Mt. Sinai Simi Valley.  The address is 6150 Mt. Sinai Drive, Simi Valley, CA  93063.  In Lieu of flowers, the family has asked that donations be made to Jews for Judaism or the Ziegler School of Rabbinic Studies.

For media:  Please direct all inquiries to Miki Conant, Jenn Quader, or Judy Brower at Brower, Miller & Cole.
Phone: (949) 955-7940

29th Street Capital Acquires The Standard Apartments; Community is Firm’s 7th Phoenix-Area Property

The Standard Apartments, Tempe, AZ

Phoenix, AZ– 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired The Standard Apartments, a 227-unit multifamily community in Tempe, Arizona.

29SC’s strategy is to invest $1.8 million into renovations to significantly upgrade the interiors and to enhance the exterior of the apartments. This is the seventh acquisition 29SC has made in the Phoenix/East Valley market in the past two years.

Dusty Eddy
“The Standard Apartments allows us to grow our presence in the Phoenix market while simultaneously acquiring a strong property in a popular submarket that continues to experience positive population and job growth,” said Dusty Eddy, 29SC’s Vice President of Acquisitions for Phoenix, Las Vegas and San Diego. 

“We believe there is a lot of upside to this property with renovations, as well as improved amenities, that will allow the property to provide a better standard of living for its residents.”

The transaction closed January 23. The sale price was not disclosed.

The Standard resides within the city of Tempe, which has experienced strong population and job growth in recent years resulting in an unemployment rate below 5%, and several new office developments. The metro area is projected to realize job growth of 40% over the next 10 years and continue to benefit from a young and highly-educated workforce.

The community is situated in a high-demand area that attracts a younger demographic because of its proximity to Arizona State University. The property further benefits from nearby Loop 101, Loop 202, and I-10, which provide above-average accessibility throughout the East Valley and the rest of the metro area.

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

http://www.facebook.com/pages/Thornton-Communications/112101288827299 http://twitter.com/Ttho http://www.linkedin.com/in/TerriThornton Terri Thornton
Partner, Thornton Communications
Phone: 404-932-4347
Email: Terri@TerriThornton.com

Morris, Manning & Martin Strengthens Highly-Ranked Hospitality Practice – Adds Partner Samantha Ahuja

Samantha Ahuja
Washington, DC, Jan. 24, 2017– Samantha Ahuja has joined Morris, Manning & Martin, LLP as a Partner in the Hospitality and Commercial Real Estate Development & Finance practices.

Molly Kacheris, an associate who has worked closely with Ahuja over the past several years, also is joining MMM. Ahuja and Kacheris both will be resident in the firm’s Washington D.C. office.

“Our Hospitality practice has doubled in size in the past two years, and closed some of the highest profile hotel transactions in the country,” said MMM Managing Partner Louise Wells.

 “We are delighted to welcome Samantha and Molly, as we continue to expand our platform in the industry.” Ahuja’s arrival follows the firm’s recent promotion of David Reina in D.C. and Catherine Morgen in Atlanta, members of the firm’s Hospitality practice, to the partnership effective Jan. 1.

MMM’s Real Estate Group is in Tier 1 of the 2017 U.S. News - Best Lawyers® Best Law Firms national rankings, with the Hospitality Group in the Top Tier for Washington. Chambers USA recognized the Real Estate Group and several of its partners, including Carol Weld King, who has been nationally recognized in the Hospitality category for a number of years.

Catherine Morgen
“Samantha has worked on a number of award-winning projects and has received tremendous recognition on her own for her innovative work,” Weld King said. “She has a wonderful reputation, and we know she and Molly will add even more power and depth to our team.”

Ahuja advises domestic and international clients on hotel and resort acquisitions and dispositions; operations; development and finance; franchise, management, casino, restaurant, licensing and branding agreements; and a range of other commercial real estate matters. 

The national legal publication Law360 honored her as one of its Rising Stars in Hospitality in 2014 and 2015.

She was primary legal counsel for 1415 Girard Street Cooperative, honored as one of The Washington Business Journal's Best Real Estate Deals of 2012, and the Housing Association of Nonprofit Developers’ Best Small Affordable Housing Project. The Washington Business Journal named her a Rising Star in its Greater Washington Legal Champions competition in 2014.

Louise M. Wells

Ahuja is also committed to serving the community. On a pro bono basis, she represents multiple affordable housing tenant associations and cooperatives in the District of Columbia in preserving their affordability and in various financing matters. 

She also volunteers for Junior Achievement and several other nonprofits, and belongs to the South Asian Bar Association and Women’s Bar Association. She earned her B.S. degree from American University, and her J.D., cum laude, from Valparaiso University School of Law.

Morris, Manning & Martin (www.mmmlaw.com) is an AmLaw 200 law firm with national and international reach. We dedicate ourselves to the constant pursuit of our clients’ success.

To provide our clients with optimal value, we combine market-leading legal services with a total understanding of their needs to maximize effectiveness, efficiency and opportunity.

 MMM enjoys national prominence for its real estate, corporate, litigation, technology, healthcare, intellectual property, energy & infrastructure, capital markets, environmental, international trade, insurance, and timberland & forest products practices.

MMM has offices in and around Atlanta, Raleigh-Durham, Savannah and Washington, D.C. The firm also has a business development office in Beijing, China and a strategic alliance office in São Paulo, Brazil.

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

http://www.facebook.com/pages/Thornton-Communications/112101288827299 http://twitter.com/Ttho http://www.linkedin.com/in/TerriThornton Terri Thornton
Partner, Thornton Communications
Phone: 404-932-4347
Email: Terri@TerriThornton.com