Saturday, February 25, 2017

Meta Housing Corp. Breaks Ground on Two Affordable Apartment communities in Los Angeles, CA Totaling $54 Million

 [From Left to Right] Mee Semcken, Consultant;  Aaron Mandel, SVP of Meta Housing; Graham Espley-Jones, President of Western Community Housing; Eric Garcetti, Mayor of Los Angeles; Kasey Burke, President of Meta Housing; Roy Faerber, Boston Financial Investment Management; Eugene Lee, Chief of State of California Department of Housing and Community Development; at the recent groundbreaking event for the El Segundo Apartments and 127th Street Apartments.

LOS ANGELES, CA – Meta Housing Corporation has broken ground on two affordable apartment communities in Los Angeles, including 127th Street Apartments, an 85-unit apartment community for homeless or chronically homeless individuals, and El Segundo Boulevard Apartments, a 75-unit apartment community for veterans and their families.

“Homelessness in Los Angeles has drastically increased over the last several years,” says Kasey Burke, President of Meta Housing Corporation. “An estimated 254,000 men, women and children experience homelessness in this city during some part of the year, and ten percent of LA’s homeless population is comprised of U.S. veterans.  This is a challenge that must be addressed, and new affordable housing is the right place to start.”

Burke explains that the rising cost of living in Los Angeles and the lack of affordable housing options continues to be a challenge for many local families.

“These new developments will fill a deep void in the community by helping individuals and families end a life on the streets and instead enjoy a safe, quality place to live,” says Burke. “By replacing a blighted vacant lot with high-quality housing that integrates strong supportive services, we are enriching the lives of residents, as well as the local community.”

Financing for the projects was provided by Chase, Boston Financial Investment Management, the California Community Reinvestment Corporation (CCRC), Housing and Community Development (HCD), Department of Mental Health/California Housing Finance Agency (DMH and CalHFA), Los Angeles Housing & Community Investment Department (HCIDLA), Housing Authority of the City of Los Angeles (HACLA), and the Department of Health Services (DHS).

[From Left to Right] Aaron Mandel, SVP of Meta Housing; Kasey Burke, President of Meta Housing; Terry Boykins, Deputy Director of Department of Mental Health; Mark Ridley-Thomas, Supervisor, County of Los Angeles; Joe Buscaino, Councilman of 15th District of the City of Los Angeles; Mee Semcken, Consultant; and Graham Espley-Jones, President of Western Community Housing, at the recent groundbreaking event for the El Segundo Apartments and 127th Street Apartments.

The two apartment communities are being developed side by side between El Segundo Boulevard and 127th Street. 

In addition, both communities will feature the latest in green building and sustainable features, according to Aaron Mandel, a Senior Vice President with Meta Housing.

“Sustainability is a primary focus for Meta,” Mandel says.  “We continue to identify innovative ways to deliver cost savings while reducing the environmental footprint of our properties.”

Mandel explains that El Segundo Boulevard Apartments will feature storm water filtration planters that clean, treat and recycle all water than lands on the site and building.  The community will also boast a cool roof with a high solar reflectance value.

Kasey Burke
In addition to sustainable features, each of these apartment communities will feature a variety of amenities and community spaces that encourage social interaction and engagement.

“It’s important that our residents don’t just live in our properties, but also thrive there,” says Mandel.  “For this reason, we design communities with thoughtful spaces that encourage collaboration, and we offer supportive services that enhance the quality of life of our residents, and the surrounding neighborhood.”

The El Segundo and 127th apartment communities will feature large community spaces including clubhouses, classrooms, and technology centers for educational training. 127th Street Apartments will also feature a large teaching kitchen for cooking classes and communal dining. El Segundo Boulevard Apartments will feature bicycle storage rooms and an outdoor courtyard.

The apartment communities will be located at 550 West 127th Street and 535-611 West El Segundo Boulevard in Los Angeles, California.
For a complete copy of the company’s news release, please contact:

Elisabeth Manville/Lexi Astfalk
Brower, Miller & Cole
(949) 955-7940

HFF closes sale of H.E.B.-anchored retail center in Houston, TX

Renaissance Center, Houston, TX        (Photo by Mabry Campbell)                            

Ryan West
HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Renaissance Center, a 97,279-square-foot, value-add, grocery-anchored retail center near the Texas Medical Center in Houston, Texas. 

HFF marketed the property on behalf of the seller, Lionstone Investments.  Williamsburg Enterprises Limited purchased the asset for an undisclosed price free and clear of existing debt. 

Renaissance Center is anchored by H.E.B, one of the largest independent food retailers in the U.S. and the premier grocer in Texas. 

Completed in 1996, the center is also home to eight tenants, including Taco Bell, BB&T Bank, Texas Department of Human Services, Watermill Express and U.S. Renal Care.  Situated on 9.603 acres at 6102 Scott Street, Renaissance Center is located at the southwest corner of Old Spanish Trail and Scott Street. 

The retail center is inside of Houston’s Interstate 610 inner loop less than two miles from the Texas Medical Center and downtown Houston, two of the major employment bases in the city.  The property’s dense, infill location has more than 135,000 residents living within a three-mile radius.

Rusty Tamlyn
HFF’s investment sales team was led by senior managing directors Ryan West and Rusty Tamlyn.

“The center is in a very urban, infill location with tremendous value-add opportunity, which the buyer is immediately implementing,” West said.  “This opportunity reflects the re-gentrification occurring in several different pockets inside the Interstate 610 Loop.”

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 |

Full-Service Boutique Brokerage Firm is Launched; SharpLine Commercial Partners Opens Los Angeles Office

Barbara Armendartz

LOS ANGELES, CA– SharpLine Commercial Partners, a full-service boutique commercial real estate brokerage firm has officially launched.

With headquarters in Downtown Los Angeles, the firm offers a comprehensive platform for owners, investors and occupiers within the retail and industrial property sectors throughout the United States. SharpLine is led by President and Founder, Barbara Armendariz, who previously served as a vice president at CBRE.

“SharpLine is an entrepreneurial brokerage firm that is focused on providing a consistent and personalized transaction process for its clients in key markets across the nation,” said Armendariz.

“I believe there is an unmet demand for this type of service for both investors and users. Our business platform was created to meet that demand via knowledgeable and dedicated brokers, thorough market data, and results-driven strategies.”

Kevin Herron
 Armendariz added: “We plan to grow SharpLine’s market share as we organically expand our team with experienced talent that shares in our client-centric values. This year, we are looking to add six additional brokers and execute a transaction volume in excess of $80 million.”

In addition to heading the firm, Armendariz, a retail property specialist with more than 12 years of tenure, is leading the retail division for SharpLine. She has represented both landlords and users including 99¢ Only Stores, Dollar Express, Rite Aid, Comerica, and Starbucks, among others.

Armendariz has also named seasoned industrial property expert, Kevin Herron as SharpLine’s Vice President.  Herron will lead the firm’s industrial division and offers a depth of hands-on experience in investment sales, property management, leasing, and land acquisitions.

Herron comes to SharpLine from CBRE where served for 13 years.  He has worked on industrial transactions with a number of clients including Northrop Grumman, LASplash Cosmetics, 7th Street Development, Avery Dennison, Voit Development Partners, Crane Freight, Currie Medical Specialties, and Rexford Industrial.

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

Darcie Giacchetto

Marina Palms Yacht Club & Residences Completes Second Tower in Miami-Dade County, FL

Neil Fairman
North Miami Beach, FL (Feb. 21, 2017) – Marina Palms Yacht Club & Residences, the first residential and marina development to be constructed in Miami-Dade County in two decades, has completed construction on its second and final condominium tower. 

The development team was issued a Temporary Certificate of Occupancy last week which paved the way for closings and move-ins to begin.  There are a few select residences still available for sale in the exclusive tower.  

 “Our original vision for this expansive waterfront property has now become a reality with delivery of our final tower,” said Neil Fairman, president of The Plaza Group, whose affiliate is developing the project with The DevStar Group.

 “I expect the momentum from this milestone will carry us across the finish line and allow us to sell out the remaining inventory in the near future.”

The Reserve at Marina Palms is located on its own peninsula and consists of 234 residences in 25 stories offering spacious 2- and- 3- bedroom layouts with expansive views over the 112-slip marina, adjacent nature preserve, Miami skyline and the Atlantic Ocean. 

Prices for the remaining residences start from $950,000 with penthouses from $1.2 million.

 For sales information, visit or email Michael Internoscia, director of sales, at

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

Todd Templin
Executive Vice President
O 954-370-8999
C 954-290-0810

Sperry Commercial Global Commercial Affiliates, LLC Completes $27.4 Million Sale of 320-Unit Apartment Property Portfolio in Victorville, CA

David Baird
Victorville, CA -– Sperry Commercial Global Affiliates, LLC has completed the $27.4 million sale of a two-property, fully occupied apartment portfolio totaling 320 units in Victorville, Calif., a city in the High Desert region of the Inland Empire.

The properties, which are located approximately 2.5 miles apart, are both garden-style assets built in 1988 and renovated in 2014. In total, they include 41 two-story buildings and are situated on just under 17 acres of land.

David Baird, National Director Institutional Investments with Sperry Commercial Global Affiliates, represented the seller, Dublin, Calif.-based Thomas Tomanek & Assoc., as well as the buyer, Denver, CO-based Sagebrush Capital Holdings. The closing cap rate was 6.5 percent.

“This transaction proved beneficial to both the buyer and the seller,” said Baird. “The seller, which is moving its portfolio to Northern California and has owned this property since 1998, was able to realize a significant return on investment.

“The buyer, which made its first acquisition in California with this transaction, acquired a quality, stabilized portfolio that stands to see a steady increase in rents and appreciation over the coming years in an up-and-coming tertiary market that continues to grow its job base and population.”

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

Darcie Giacchetto
Spaulding Thompson & Associates

Arbor Named Top Freddie Mac Small Balance Lender 2nd Straight Year

Ivan Kaufman
 UNIONDALE, NY -- Arbor Realty Trust, Inc. (NYSE:ABR), a real estate investment trust and national direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets, has announced that for the second consecutive year it was recognized as the Top Freddie Mac Multifamily Small Balance Lender for 2016.

The Freddie Mac Multifamily Small Balance Loan product just completed its second full year of business, with Arbor leading in loan volume both years.  

“Our two-year partnership with Freddie Mac on its Small Balance Loan platform has been a tremendous success for Arbor, Freddie Mac and, most importantly, small balance investors, who are able to take advantage of such a strong product with great financing terms,” said Arbor Chairman, President and CEO Ivan Kaufman.

“This product is a great financial solution for what had been a historically underserved sector of the multifamily market. We are very proud to have the long-standing internal expertise, including origination and processing talent, to be able to deliver these loans for the marketplace.”

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

Christopher Ostrowski