Monday, July 24, 2017

Arbor First to Cross $2 Billion Threshold in Freddie Mac Small Balance Loans

Ivan Kaufman
UNIONDALE, NY (July 24, 2017) - 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, today announced it has surpassed a milestone in its small balance loan history as the first lender to reach $2 billion in Freddie Mac Small Balance loans.

“Our volume, capacity and borrower loyalty are all well in excess of what we could have predicted when the Small Balance Loan program launched, and that’s largely due to the remarkably strong relationship we’ve built with Freddie Mac,” said Arbor Chairman, President and CEO, Ivan Kaufman.

“The product was created with the unique needs of the smaller multifamily participant in mind, and it has evolved to meet their changing demands as the multifamily cycle has progressed. 

"We are excited to continue to provide a stable, reliable financial solution that supports the workforce housing goals associated with smaller multifamily assets.”

Stephen Johnson
Arbor was a key contributor in the development of the program, which launched in late 2014, and has been the program’s top lender in 2015 and 2016. 

“We congratulate Arbor Realty Trust in reaching this milestone. Freddie Mac’s commitment to small property lending through the Small Balance Loan program is evident through our outstanding seller partnerships, which is exemplified by our relationship with Arbor,” said Stephen Johnson, Vice President, Small Balance Loan Business for Freddie Mac Multifamily.

“Arbor was our top producing Small Balance lender in 2015 and 2016, and its 2017 performance has exceeded all expectations. We look forward to seeing what the balance of the year brings.”

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

Arbor Realty Trust, Inc.                                                                   
Bonnie Habyan
333 Earle Ovington Blvd, Suite 900                                                 
Uniondale, NY 11553                                                              


NAI Realvest’s Jeff Bloom Completes Nine Lease Transactions in 30 days for Retail, Office, Industrial properties totaling more than 17,299 Square Feet

Jeff Bloom
ORLANDO, FL -- Jeff Bloom, CCIM, vice president at NAI Realvest, closed on nine lease transactions between June 12 and July 10 for a total of 17,299 rentable square feet, including 6 new tenant leases totaling 13,549 square feet.  

Bloom brokered the following leases representing landlords and tenants:

Bela Weddings & Special Events of Orlando leased the first floor of the Empire Building comprising 4,250 square feet of office space at 28-44 W. Central Blvd. in downtown Orlando.  Empire Florida, Ltd. is the landlord.  

Auto Master Repair leased 3,842 square feet of industrial space from Landlord Fundog Ivestments at 1892 Kentucky Ave. in Winter Park. 

DJ Live Productions, LLC leased 1,250 square feet of industrial space from Landlord Mesar LLC at 875 Sunshine Lane in Altamonte Springs, and Fresh Farmacy skin care products firm renewed its warehouse lease of 1,350 square feet at the same facility. 

Frank Alayoubi
At the Cuban CafĂ© Plaza, 7339 E. Colonial Drive, Bloom negotiated four retail leases on behalf of landlord AKG Properties, LLC, including new leases to custom bike shop Locos, LLC for 1,200 square feet and Pinar Transportation for 1,080 square feet.   

Two lease renewals were executed by software developer Robert Cruz for 1,210 square feet, and Yates Barber Shop 1,150 square feet.

The law firm of Brionez & Brionez, P.A.  in Tavares signed a lease for 1,927 square feet of professional office space at 315 N. New Hampshire Ave.  Bloom represented the landlord, Adams & Conan Properties, LLC, and the new tenant was represented in the transaction by Frank Alayoubi of Century 21 Carioti. 

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

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

Daum Commercial Directs Acquisition of 104,339-SF Industrial Building in Los Angeles County for National Reit

Michael Collins
RANCHO DOMINGUEZ, CA – DAUM Commercial Real Estate Services facilitated the acquisition of a 104,339 square-foot industrial building situated on 4.45 acres in the Rancho Dominguez submarket of Los Angeles County on behalf of national REIT Industrial Property Trust Inc. (IPT).

IPT has commenced a $2.5 million capital improvement campaign to modernize and optimize the building.

“This is an institutional buyer with a strong track record of success in the acquisition and operation of industrial properties,” says Michael Collins, Vice Chairman of DAUM Commercial, who represented IPT as the buyer in this transaction. 

“This property is exceptionally well-located, with direct access to the Ports of Los Angeles and Long Beach, making it well-positioned to meet the needs of industrial users throughout the South Bay region.”

Collins notes that the property offers strong fundamentals, including excellent dock-high loading, a large truck court, warehouse clearance up to 26 feet, a large fenced yard, a calculated sprinkler system throughout, and highly visible freeway frontage along I-710.

“In addition to its features, the property is situated in a submarket that currently boasts sub-two-percent industrial vacancy rates,” continues Collins.

IPT’s renovation plan includes adding additional dock high loading, a new roof, new exterior and interior paint, yard upgrades to accommodate more truck traffic, as well as interior improvements that will enhance the aesthetics and functionality of the existing warehouse and office space.

Adam Deierling, IPT’s Vice President – Western Region, explains, “This asset is well-aligned with our ongoing investment strategy, which is to acquire high quality, well-positioned distribution warehouses in infill markets. We recognized the opportunity to add value through a series of renovations that will allow us to improve its functionality and meet the demands of today’s industrial users.”

DAUM Commercial’s Michael Collins and Jordan Lara will serve as exclusive leasing agents for the property. Interested tenants may contact the team at (310) 538-6700.

Adam Deierling

The property is located within eight miles of the Ports of Los Angeles and Long Beach, and in close proximity to Los Angeles International Airport and Downtown Los Angeles.

The building, which was acquired for $12 million, is located at 18554 South Susana Road in Rancho Dominguez, California. The seller, an industrial owner-user, was represented by Robert Colacion of Gateway Business Properties.

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

Elisabeth Manville
Junior Account Executive
Brower, Miller & Cole
895 Dove Street, Third Floor
Newport Beach, CA 92660
p: (949) 955-7940

George Smith Partners Arranges $21.6 Million in Financing for Ground-Up Luxury Condominium Development in Los Angeles, CA

New condo-retail development planned at 3400 Sunset Boulevard  in Silver Lake Neighborhood of Los Angeles, CA

LOS ANGELES, CA (July 24, 2017) – Commercial real estate investment banking firm George Smith Partners has successfully secured $21.6 million in ground-up construction financing for the development of 35 for-sale condominium units and 2,000 square feet of ground-floor retail space in the Silver Lake neighborhood of Los Angeles, California.

Jonathan Lee
The financing was arranged by George Smith Partners’ Managing Director Jonathan Lee. The property will be located at 3400 Sunset Boulevard.

The project, developed by a joint-venture between Barth Partners and Barry Leddy Developments, will be the first new luxury condominium development built in the Silver Lake submarket since the Recession, according to Lee.

“This new development will provide homebuyers with a rare opportunity to own in one of the hottest neighborhoods in Los Angeles,” explains Lee. “As the first new for-sale residences in this submarket in over a decade, this signature project faces limited competition and will be well-positioned to capitalize on the enormous demand for quality housing throughout the region.”

Given the high cost of single-family housing in Los Angeles, this development will provide new homebuyers with a more accessible option to own in this submarket. Per-square-foot prices for homes in Silver Lake jumped 20 percent in the last year, and the few for-sale condo units that have become available have sold out quickly, making these new residences an attractive alternative for buyers, according to Justin Barth, Founder of Barth Partners.

Justin Barth
“As home prices continue to climb, single-family home ownership is simply out of reach for the majority of residents in Silver Lake,” adds Barth. “Through this development, we are providing residents with brand new, highly-amenitized housing at a relatively affordable price point in one of the most desirable neighborhoods in Los Angeles.”

Lee remarks that Silver Lake’s access to employment centers, availability of mass-transit options, and proximity to downtown Los Angeles have attracted an influx of Millennials seeking housing options near neighboring amenities.

“The demand for walkability in urban settings is driving the creation of amenity-rich environments that offer a fully-integrated live/work/play experience,” continues Lee. “This condo development will cater to this demand by providing residents with convenient access to an abundance of restaurants, entertainment venues, and boutique retail shops, all within walking distance from the community.”

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

Miki (Conant) Akil / Katie Kea
Brower, Miller & Cole
(949) 955-7940