Wednesday, January 31, 2018

The Keyes Company Acquires Rickenback Realty in Aventura, FL






From left:  Keyes Senior Vice President Steve Reibel, Rickenback Realty Founder Eric Rickenback, Keyes Vice President Tim Pappas and Keyes Aventura District Sales Manager Marco Zarfati


Aventura, FL. – The Keyes Company has announced the acquisition of the Aventura-based real estate firm Rickenback Realty, Inc. This marks the fifth brokerage acquired by Keyes and its Family of Companies in the last five months and the second in Aventura following the August 2017 acquisition of Shorewood Real Estate. 

Led by President and Managing Broker Eric Rickenback and Co-Founder Harriet Rickenback and operating for more than three decades, Rickenback Realty successfully lists for sale and rental homes and condominiums throughout South Florida. The firm has 25 agents and generated more than $25 million in transaction volume in 2017.

Rickenback is merging with the Keyes Aventura office located at 2822 NE 187 St. Keyes has separately announced the appointment of Marco Zarfati as new District Manager of the Aventura office. Zarfati has been with Keyes for 18 years.

Marco Zarfati
“The addition of Rickenback and the firm’s talented agents to our family is an exciting development,” said Keyes CEO Mike Pappas. “It is a fantastic strategic fit that further boosts our recent growth in Aventura. We continue to pursue the right expansion opportunities throughout South Florida, the Keys and the Treasure Coast.”

A longtime supporter of animal rescue initiatives, Eric and Harriet Rickenback started nonprofit organization Shih Tzu Rescue in 1995. The organization operates a three-acre kennel in Davie and has rescued, rehabbed and adopted more than 3,000 abused and abandoned dogs of various breeds.

Earlier this month, Keyes announced the acquisition of Boynton Beach-based real estate firm The Realty Pros, which has 43 agents who specialize in Palm Beach County residential properties.

Through these acquisitions, the agents involved are able to take advantage of the resources, technology, marketing, leadership and independent nature of Keyes as they promote their properties and enjoy increased sales and listing opportunities.

Independently-owned and operated since its founding in 1926, Keyes is extremely active in all segments of residential real estate. In 2017, Keyes generated more than $6 billion in real estate services across its Family of Companies.

The Keyes Family of Companies is the largest independently-owned real estate firm in Florida and a Top 25-ranked firm in the entire United States.


For more information, please contact:

Eric Kalis
Account Director, BoardroomPR
O 954-370-8999
C 305-794-5123
Bank of America Plaza | 1776 N Pine Island Road
Suite 320 | Fort Lauderdale, FL 33322
Web | Facebook | LinkedIn | Twitter | Instagram

Levin Johnston Sells Santa Clara, CA Multifamily Community for Record Price of $456,250 Per Unit



Velocity at Lawrence Station Apartments, 3488 and 3508-3518 Agate Drive, Santa Clara, CA


            SANTA CLARA, CA – Levin Johnston, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, has directed the record-breaking price per unit sale of Velocity at Lawrence Station, which sold for $456,250 per unit, or a total of $25,550,000, on behalf of the seller, Old Adobe Management Company.

Robert Johnston
            “This is the ultimate example of a successful full-cycle investment,” says Robert Johnston, Senior Vice President of Levin Johnston.

“The Levin Johnston team assisted Old Adobe Management Company in acquiring this 56-unit property in February of 2015 for $14,250,000.

After extensive strategic renovations, the property’s value increased exponentially, enabling us to achieve a per-unit sale price that is the highest in the history of Santa Clara for a community with more than 10 units, according to CoStar.”

            Large-scale renovations were performed on both the interior and exterior of the property, including new roofing, upgraded plumbing including copper risers and sewer lines, and brand new electrical wiring in every unit.

The property also features all-new, drought-resistant landscaping, as well as brand new carports and newly upgraded common areas with barbeques. In-unit amenities were substantially upgraded, including high-end, designer finishes such as quartz countertops and modern paint schemes, as well as new dishwashers and the addition of washers and dryers in every unit.

“This level of upgrades is nearly unheard of in today’s market, and speaks to the commitment and expertise of the seller,” states Adam Levin, Senior Managing Director of Levin Johnston. “By investing in the amenities that matter most to tenants, Old Adobe Management Company was able to enhance the value and lifespan of the property for future owners, while substantially increasing their return on investment.”

            The asset is located in the heart of Silicon Valley, which boasts high multifamily occupancy rates and strong employment fundamentals.


Adam Levin
“The Bay Area market is characterized by its outstanding employment rates, and Santa Clara’s fundamentals are on trend,” notes Levin. 

“Unemployment in Santa Clara recently dropped to 2.6%, fueling continued strong demand in the local multifamily sector. This tenant demand continues to drive increased investor interest, enabling us to achieve strong returns for our Client through this sale.”

            The property is located in walking distance to Lawrence Station Caltrain, which offers a short 10- to 20-minute commute to Mountain View, Palo Alto, Menlo Park and other nearby hubs for major employers such as LinkedIn, Intel, Facebook, Apple, Yahoo! and Google.

            Velocity at Lawrence Station was acquired by a private owner. The property is located at 3488 and 3508-3518 Agate Drive in Santa Clara, California.

Levin Johnston is one of the top multifamily brokerage teams in the U.S. specializing in wealth management through multifamily and commercial real estate investments.

With a focus on growing and sustaining wealth for each and every Client, the Levin Johnston team is expert in investment sales and acquisitions, value-driven asset management, 1031 exchanges, and ongoing advisory services.

 Since its inception, Levin Johnston has directed more than $2 Billion in transactions, resulting in stable risk-adjusted returns for investors throughout the U.S. Levin Johnston is part of Marcus & Millichap’s Palo Alto office.


For more information, please contact:

Jordan Kruk,  Account Coordinator
Jenn Quader ·
O 949 955 7940
Brower, Miller & Cole
The Smart Agency™ for Smart Clients who want Smart Work
895 Dove Street, Third Floor · Newport Beach, CA 92660
Website · Facebook · Twitter · Instagram

NAI Realvest Closes Six New Leases in 60 Days at South Park Business Center in Orlando, FL



Tom R. Kelley II
ORLANDO, Fla. – NAI Realvest completed six new office-industrial leases from mid-November to mid-January for office and industrial space totaling 13,391 rentable square feet at Orlando’s South Park Business Center, 8600 Commodity Circle. 

Tom R. Kelley, II, CCIM, principal NAI Realvest, brokered the transactions on behalf of the Miami-based landlord South Park, LLC.   New tenants and the space leased include:

Digital CM a security firm that provides custom designed systems leased 3,531 square feet; Total Life America, LLC a health supplement provider leased 1,830 square feet; Madrona Concepts, a golfing products distributor based in Belleue, WA leased 1,830 square feet;

Brokeit Company, an electronics repair firm leased 2,094 square feet; Transfirst Media, Inc. a multimedia firm servicing the tourism industry leased 4,106 square feet; and

Sakur International Inc., a women’s fashion products company leased 1,830 square feet.

For more information, please contact:

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

Continental Partners Secures $38.1 Million in Financing for Four Multifamily Transactions in Los Angeles, CA



Zalmi Klyne

LOS ANGELES, CA– Commercial real estate investment banking firm Continental Partners has secured $38.1 million in financing for four transactions, encompassing 12 properties totaling 210 units, in Los Angeles, California. The financing for all four deals was arranged by Continental Partners Executive Vice President Zalmi Klyne.

“Multifamily remains one of the most in-demand product types,” says Klyne. “However, as the cycle matures, many lenders have become more conservative in their underwriting, especially in regions with high development pipelines. This is driving investors to emerging submarkets where oversupply in less of a concern.”


According to Klyne, multifamily investment activity in LA’s emerging submarkets continues to grow as residents and investors look for more cost-effective options in close range to urban centers.

“All of these properties are all located in growing LA submarkets where demand is continuing to outpace supply,” explains Klyne. “We were able to successfully arrange competitive financing for all four sponsors by leveraging our capital relationships, getting the lenders comfortable with the properties’ respective submarkets, and implementing creative solutions to finance these deals.”

For more information, please contact:

Elisabeth Manville · Account Executive 
O 949 955 7940 · C 949 584 4046
Brower, Miller & Cole
The Smart Agency™ for Smart Clients who want Smart Work
895 Dove Street, Third Floor · Newport Beach, CA 92660


Tuesday, January 30, 2018

Hold-Thyssen Completes Long Term Lease with Major Tenant at Axiom Bank Building in Maitland Center, Maitland, FL



Darby Hold

MAITLAND, FL --- Hold-Thyssen, a full service real estate services firm recently negotiated a three-year lease agreement for 3,718 square feet of Class A office space in the Axiom Bank Building at 258 Southhall Lane in Maitland Center.  

Darby Hold, associate for Hold-Thyssen, Inc. negotiated the transaction representing the landlord, Axiom Bank.
,
Axiom Bank Building, 258 Southall Lane, Maitland Center,
Maitland, FL
Wilson Learning Corporation, a recognized leader in the performance improvement industry and a major tenant at the Axiom Bank Building for 13 years, extended its lease for three years beginning in January. 

Hold-Thyssen, Inc., headquartered in Winter Park, Florida 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 more information, please contact,

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



Proper Title, LLC Adds Neil F. Narut, Esq. as Senior Underwriting Counsel



Neil F. Narut
CHICAGO, IL (Jan. 30, 2018) – Palatine, Ill.-based Proper Title, LLC, a full-service title insurance agency serving the residential and commercial real estate industries, announced it has hired Neil F. Narut, Esq., as senior underwriting counsel.

“We are very fortunate to have someone with Neil’s background and outstanding reputation in the industry join Proper Title,” said David Garside, executive vice president of title and escrow operations at Proper Title. “He brings exceptional expertise in real estate law and understanding the attorney’s role in transactions that aligns perfectly with our goal to provide the best possible customer experience at the closing table.”

Most recently with Chicago Title, Narut has more than two decades of experience in real estate and land title insurance legal matters, concentrated in commercial and residential real estate transactions, REO, title curative, and foreclosure of mortgage default and mechanic’s lien cases.

 According to Narut, his approach to underwriting balances the necessary underwriting standards while applying pragmatic and practical solutions to complex title issues for attorneys and their clients.

“I fully understand, having practiced law, the real estate attorney’s mission to provide the highest level of service to clients and referring realtors,” said Narut. “Proper Title has assembled a spectacular team of experienced title professionals unmatched by any other company in the Chicago area. This is the exact company I would want to work with as a practicing attorney-agent.”


David Garside













A graduate of Loyola University - Chicago and The John Marshall Law School, Narut frequently speaks at continuing education and bar-related functions, and was selected to the Fidelity Underwriter Leadership Program.

Launched with just 27 employees in 2013, Proper Title has doubled its size and increased its transaction volume every year to become a major player in the title insurance business.

It earned the 2016 Award for Excellence from Fidelity National Title Group, Inc., a member of the Fidelity National Financial (NYSE: FNF) family of companies and the nation’s largest group of title companies and title insurance underwriters. The award is given for meeting and exceeding specific title underwriting and settlement services criteria.

For more information, please contact:

 Traci Failla,
 (312) 267-4516.


Monday, January 29, 2018

Stos Partners Sells High-End Mixed-Use Carlsbad, CA Asset; Achieves 30 Percent Price Increase in 16 Months



Mixed-Use Property, 560 Carlsbad Village Drive and at 2975 Roosevelt Street,
Carlsbad Village, San Diego, CA

SAN DIEGO, CA – Stos Partners, a privately held commercial real estate investment and management firm in joint venture with a local San Diego based private equity fund, has sold a three-story, high-end mixed-use property comprised of retail, restaurant, creative office and residential space in the Carlsbad Village submarket of San Diego for $8.2 million. 

CJ Stos
The firm originally purchased the asset for $6 million in July of 2016, according to CJ Stos, Principal of Stos Partners.

“In just 16 months, we were able to build tremendous value in this exceptional property,” Stos explains.  

“By recognizing the potential in its irreplaceable location, well-amenitized office and residential units, as well as its on-site award-winning restaurant (PAON), we were able to maximize the value of each asset class, ultimately increasing NOI and creating a solid foundation for the next owner.”

The property is located at 560 Carlsbad Village Drive and at 2975 Roosevelt Street, with entrances on both streets.

Eric Wohl of Hanley Investment Group represented Stos Partners as the seller in the transaction. The property was purchased by a private family

Stos Partners executed leases on more than 60 percent of the building during its ownership, bringing the property’s office and residential units to full occupancy.  The firm also implemented improvements to the property, including new exterior paint and signage.

Jason Richards
“We are fortunate to have a strong track record of success in identifying the right properties, implementing capital improvements that make a difference, and creating true value in the properties we own,” says Stos.  

“In this case, based on our improved management and property-level upgrades, we were able to increase rents on renewals as well as new leases, and generate strong risk-adjusted returns on this investment.”

Jason Richards, a Partner at Stos Partners, notes that the property’s increases in rental income are driven by strengthening market fundamentals in Carlsbad, which are fueling increased demand for coastal retail, office and residential space.

“There is continued migration to coastal submarkets as companies and individuals realize quality of life advantages, often at more attractive costs than major markets such as downtown San Diego,” says Richards.  “We monitor these trends to seek acquisition opportunities in coastal Southern California markets with strong growth potential.”

Constructed in 2008, the property features innovative and in-demand amenities, including a 2,000 square-foot community deck with panoramic views of the Pacific Ocean, as well as office suites with concrete floors and exposed HVAC.

Eric Wohl
            The asset also features two high-end penthouse residential units in the heart of Carlsbad Village, which offer single-story, ocean-view living with private two-car garages.

            “As high-end users continue to seek walkability, luxury and accessibility in coastal living and workspace, we will continue to see high demand for these well-located mixed-use projects,” says Richards.
.
            Headquartered in San Diego with an office in Orange County, Stos Partners is a privately held commercial real estate investment and management firm that acquires, owns, operates and develops opportunistic commercial properties with a focus on value-add industrial and office investments.

            Led by a Principal with a track record of being one of the most active buyers of commercial real estate between 2009 – 2017 in Southern California, the firm partners with high net worth private capital and institutional investors to identify and invest in assets that are poised for strong future growth.
            Stos Partners delivers deep local expertise and longstanding relationships that translate to a unique ability to source deals quickly and profitably. 

For more information on this transaction, please contact:

Miki (Conant) Akil · Senior Account Executive
O 949 955 7940 · C 832 260 4414
Brower, Miller & Cole
The Smart Agency™ for Smart Clients who want Smart Work
895 Dove Street, Third Floor · Newport Beach, CA 92660
Website · Facebook · Twitter · Instagram


Friday, January 26, 2018

NAI Realvest Associate Rachel Saunders Elected Vice Chair of Winter Garden, FL Planning and Zoning Board



Rachel Saunders

Robin Webb
WINTER GARDEN, FL  – Rachel Saunders, MBA, real estate land specialist with NAI Realvest, was elected Vice Chair of the Winter Garden Planning and Zoning Board.

Robin Webb, Managing Director at NAI Realvest said Saunders has been a real estate entrepreneur and investor since 2004. She founded Southeast Ingenuity Investments, Inc. where she’s been actively growing a portfolio of income-producing properties in addition to her brokerage activities at NAI Realvest. 

As Vice Chair of the Planning and Zoning Board, Saunders will preside over board meetings in the absence of current Chair Will Hawthorne.

Saunders is a Leadership West Orange graduate.  She is currently a member of the Winter Garden Heritage Foundation and volunteers with the American Cancer Society.

“Winter Garden has become one of the most beloved cities in Central Florida.  We are rapidly growing so it’s important to ensure that we not only help implement the City’s comprehensive plan, but also make every decision to benefit our current residents. Smart growth is key,” said Saunders.

For more information on this release, please contact:

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

Wednesday, January 24, 2018

Regency Centers Acquires Two Adjacent Properties to Form Hewlett Crossing in Hewlett, NY


Joanna Rotonde


Under Regency’s ownership the two will operate as a single center known as Hewlett Crossing.
“As we continue to expand our presence in the market, we are focused on shopping centers with premier demographics that offer opportunities to enhance the customer experience,” said Joanna Rotonde, Senior Manager of Transactions for Regency Centers.


“Hewlett Crossing’s location on the main retail corridor serving the dense and affluent population base has resulted in a successful and seasoned tenant roster. The Hewlett Fish Market has been a tenant since 1955 and nearly 70% of the tenants have been at the center for 15 years or more."
The acquisition of Hewlett Crossing increases Regency’s Long Island presence to 14 centers totaling nearly 1.9 million-square feet.
For more information on this transaction, please contact:
Regency Centers Corporation
Eric Davidson, 904-598-7829
Communication Manager
EricDavidson@regencycenters.com
or
Jack DeVilliers, 203-635-5562
Vice President, Investments
JackDeVilliers@regencycenters.com

Lincoln Rackhouse Breaking Ground On Major Build-to-Suit Switch Center in Sunrise, FL


Ryan Sullivan
DALLAS, TX -– Lincoln Rackhouse this month will break ground on a major build-to-suit telecom switch center for a leading US mobile network provider, solidifying its offering as a mission-critical developer.

In a sale-leaseback agreement, the 35,000-sf data center is secured by a 20-year prelease with renewal options. The 4.3-acre development site is located in a heavy industrial corridor of Sunrise, Fla. The network provider has requested anonymity and is not disclosing the site's address due to security concerns.

Ryan Sullivan, managing director of Dallas-based Lincoln Rackhouse, is spearheading the Florida project and leads the data center development program nationwide for Lincoln Property Co. Lincoln Property's South Florida office will oversee development and management of the design-build project, slated to deliver in the fourth quarter.

The mobile network provider's stand-alone switch center will significantly expand its delivery platform in the region. The network provider had purchased the site and began early planning and design for the development.

The sale-leaseback opportunity went out for bid about one year ago, triggering a highly competitive process among data center developers. Bo Bond and Ali Greenwood, directors of JLL's Data Center Solutions, represented the network provider in the sale-leaseback agreement.

Bo Bond
"We won this contract because we have access to the right capital partners, strong local resources and experience to get the job done in an efficient and cost-effective manner," Sullivan says.

Lincoln Rackhouse's design-build team includes Houston-based Burr Computer Environments Inc., an engineering firm specializing in mission-critical mechanical systems and infrastructure. Gensler is the project architect. Smith Commercial Contracting Inc. of Houston is the general contractor.

"This project allows Lincoln Rackhouse to demonstrate the depth of its capabilities in financing and efficiently executing ground-up data center development," Sullivan says.

"The process of completing this transaction was a true partnership between Lincoln, the network provider and our construction team to facilitate a sophisticated engineering and construction process with lease terms that make sense for all parties."

Lincoln Rackhouse primarily has concentrated on value-add acquisitions and enterprise sale-leasebacks of mission-critical properties, resulting in a transactions volume topping one million sf to date.

Its key platform for growth is focused on build-to-suit and design-build projects, which Sullivan is aggressively pursuing nationwide while continuing to pursue investments to grow the portfolio.

With 40 offices in the U.S., Lincoln Property offers "boots on the ground" oversight and management for the highly specialized development and ownership program.

Ali Greenwood
"Data centers have become a new stand-alone asset class. With this project, we've added build-to-suit data center development to Lincoln's offerings," Sullivan says. "Other mission-critical build-to-suits are on the horizon."

Lincoln Rackhouse is the data center division of Lincoln Property Co. and focuses on helping organizations of all sizes locate, analyze and secure data center space to lease or own.

Dallas-based Lincoln Property Co. has earned its reputation as effective, professional managers of residential and commercial properties with more than 50 years of experience in building, owning and managing one of the largest commercial real estate portfolios in the United States.

With 20 years of experience sourcing mission critical data centers, Lincoln Rackhouse offers unparalleled market and industry knowledge with an unbiased approach in fulfilling technology requirements.

For more information on this transaction, please contact:

Ryan Sullivan, 214.740.4399 

or

 connie gore







NAI Realvest Negotiates Investment Sale of Retail Building in Downtown Sanford, FL Redevelopment District

Jerome Lewless III

SANFORD, FL  --- NAI Realvest, based in Orlando, recently negotiated the investment sale of a two-story commercial building with storefront at 110 S. Palmetto Ave. in historic downtown Sanford’s redevelopment district.        

NAI Realvest Associate Jerome Lewless, II negotiated the transaction on behalf of Anglo Centurion, LLC, the Orlando-based seller of the 3,671 square foot building which is listed on the Historical Register.  

The local buyer Noli Timere LLC paid $275,000 for the property.  

For more information, please contact:

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

Tuesday, January 23, 2018

Hanley Investment Group Arranges Sale of Newly-Constructed Single-Tenant Aspen Dental in St. Louis Metro Area at Record Low Cap Rate


Bill Asher
ARNOLD, MO-- Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced the firm has completed the sale of a newly-constructed single-tenant Aspen Dental in Jefferson County, Missouri, at the intersection of Big Bill Road and Highway 141 in the city of Arnold.

The purchase price was $2,424,000, representing a 6.50 cap rate, the lowest cap rate ever for an Aspen Dental in the Midwest, according to CoStar. Hanley Investment Group Associate Jeff Lefko and Executive Vice President Bill Asher represented the seller, DLJ Properties, LLC in Arnold, Missouri.

The buyer, a private investor based in Chicago, Illinois, was represented by Robert Gamzeh of Triple Net Investment Group in Falls Church, Virginia.

The new 3,500-square-foot building occupied by Aspen Dental, which was completed earlier this year, is situated on 0.39 acres at 1200 Big Bill Road in Arnold, less than 20 miles south of St. Louis.

Jeff Lefko
The building fronts Missouri Route 141 and is located at the exit/entrance to Interstate 55 (110,000 cars per day), which leads to Downtown St. Louis. There are more than 34,000 cars per day along Missouri Route 141.

According to Asher, “Aspen Dental has a corporate-backed 10-year lease with rent increases each option period.”

Asher adds that the property has exceptional highway visibility with the 80-foot billboard sign that is visible from one mile away along Interstate 55 as well as pylon signage along Missouri Route 141.

“We procured nine offers within the first month of marketing the property,” Lefko noted. “The buyer’s deposit was non-contingent before the tenant was open for business. We closed escrow in 45 days at list price.”

Lefko adds, “Arnold is an affluent suburb of St. Louis and the largest city in Jefferson County. There are over 142,000 people with an average household income in excess of $87,000 residing within a five-mile radius of the property.”

The property is located within the major retail hub of Arnold. Retailers that are situated within a five-block radius include ALDI, Chick-fil-A, CVS/pharmacy, Hobby Lobby, Kohl’s, McDonald's, Panda Express, Petco, Raising Cane’s, Starbucks and Walmart Supercenter.

Aspen Dental, Arnold, MO
“The site is situated on .39 acres and is unique in that the pylon sign can be seen from miles away; it is the first thing seen when leaving St. Louis County and entering Jefferson County,” said Chris Ford with DLJ Properties, the developer of the property.

“From the day that we purchased the property, we knew that it was a special site that needed to be upgraded with a user like Aspen Dental.

We worked closely with the city, Aspen Dental, and our construction team to create a high-performance retail location and solid investment opportunity for the buyer. We are excited to have Aspen Dental in our community and it is a site our family can be proud of.”

“Today’s investors are looking for single-tenant net-lease investments with great fundamentals and tenants that are less likely to be impacted by online shopping,” said Asher. “A well-recognized single-tenant dental practice is the type of ‘internet-resistant’ investment that investors are looking for.”

Aspen Dental is one of the top five largest private dental providers in the country with more than 600 offices in 36 states across the U.S. Aspen Dental provides affordable, high-quality, convenient, denture and dental care services.

Each office has certified oral hygienists, dentists and oral surgeons for general dental care who provide patients with a full range of denture and dental services, including hygiene, oral surgery, fillings, whitening and crown and bridge work.

For more information on this release, please contact:


Saturday, January 20, 2018

Trez Forman Capital Group Closes $6.75 Million Loan for Pennsylvania Mixed-Use Project


Brett Forman

BOYNTON BEACH, FL and PHILADELPHIA, PA –– Florida-based Trez Forman Capital Group has completed a $6.75 million loan for a developer planning to build a mixed-use project located in an emerging section of Philadelphia, Pa.

 Ryan Howard of Trez Forman originated the loan, which closed on Friday, January 12.  This is the first time Trez Forman has done business in the state of Pennsylvania.

The borrower, Gagandeep Lakhmna of 1413 Germantown, LLC, plans on developing a 6-story, 50-unit mid-rise apartment building with 5,500 square feet of ground-floor commercial space on a 14,625-square-foot site at 1413 Germantown Ave. The project will be targeted towards the millennial generation.

With smaller residential units close to mass transit hubs and major employers, the development will offer a walkable, urban living experience at a better price point than downtown Philadelphia corridor.  The development will also offer some garage parking, a fitness center, bicycle storage, and a full amenity package.

“We are always excited to work with borrowers on deals in emerging neighborhoods,” said Brett Forman, President and CEO of Trez Forman. “The young professional population is going to respond to the value proposition and amenities this rental project will offer.”

Trez Forman is a joint venture formed in 2016 by Palm Beach-based Forman Capital and Vancouver-based Trez Capital Group - one of Canada’s largest private commercial mortgage lenders. It provides commercial bridge loans for development and construction and senior stretch financing starting at $5 million.

Ryan Howard
The venture also offers private and institutional investors equity investment opportunities in a variety of funds and assets. This year, Trez Forman expects to originate more than $300 million worth of loans.

In December 2017, Trez Forman completed a $74.8 million construction loan to Dallas-based developer Lincoln Property Co. for the 26-story Church Street Plaza project planned for downtown Orlando, Florida.

That transaction followed the company giving Encore Capital Management a $23.15 million construction loan for the redevelopment of the former Fashion Mall in Plantation into the mixed-use Plantation Walk.

For more information on this release, please contact:

Todd Templin and Eric Kalis
954-370-8999



30 Legendary Properties Inducted into Historic Hotels Worldwide in 2017


NH Collection Porta Rossa Hotel, Florence, Italy

WASHINGTON, DC – Historic Hotels Worldwide® has inducted 30 historic hotels into its registry in 2017. The 30 iconic hotels represent more than 10 brands, chains, and collections from 14 countries. The oldest historic hotel inducted in 2017 is the NH Collection Porta Rossa which includes a building that dates back to the 13th century.

Lawrence Horwitz
Historic Hotels Worldwide is an official program of the National Trust for Historic Preservation (United States of America) for recognizing and celebrating the finest Historic Hotels around the world. 

“Imagine discovering, experiencing, and exploring a hotel in a former castle, chateau, palace, academy, hacienda, luxury manor home, or monastery,” said Lawrence Horwitz, Executive Director, Historic Hotels of America and Historic Hotels Worldwide.

“These 30 historic hotels demonstrate the tremendous stewardship of their owners, leadership, and employees in preserving these wonderful historic treasures and the many centuries of stories of the people that previously lived, worked, socialized, or visited. 

“Many are tremendous architectural and heritage landmarks. Each is worth exploring and visiting.”

For more a complete list and lineage of the 30 hotels and more information on this release, please contact:

Lauralee Dobbins
609-451-5102
856-979-8929 (mobile)
2017 Pepperpot Award Winner
Member SATW
Twitter @AHotelPRo

or

Heather Taylor
Historic Hotels Worldwide
Senior Manager, Marketing Communications
Tel: +1 202 772 8333 Fax: +1 202 772 8338

For the complete list of 

Bull Realty Brokers $5 Million Retail Center in Douglasville, GA

  
Will Young

 ATLANTA, GA – Will Young at Bull Realty brokered the sale of “The Boulevard I & II at Arbor Place Mall,” two multi-tenant retail buildings totaling 30,300 SF in Douglasville, GA. The sale closed on Jan. 11th for $5 million ($165/SF) at a 7.9% proforma cap rate.

Built in 2004 and 2007, this retail portfolio was 100% occupied at the time of the sale. The stable mixture of 12 tenants is comprised of a blend between local and national tenants including Metro PCS, Edible Arrangements, State Farm and Get Well Urgent Care.

Young was chosen to market the property exclusively by the Seller, Benchmark Boulevard Properties, Inc. This center sold to Michael and Sherri Basinet, who were not represented by a broker.

“The Seller developed and managed this property, so we were pleased to bring him an out-of-state 1031 buyer, who was capable of paying top dollar. The building is in excellent condition and should continue to be a solid investment for the buyer,” said Young.
  
For more information contact Bull Realty at 404-876-1640 or Info@BullRealty.com - Bull Realty, Inc. (www.BullRealty.com) is a commercial real estate brokerage and advisory firm headquartered in Atlanta, licensed in nine states providing acquisition, disposition, leasing and advisory services. The firm also produces and hosts America’s Commercial Real Estate Show (www.CREshow.com).

For more information on this release, please contact:

Melissa Henry
Communications Manager
Bull Realty, Inc.
404-876-1640 x 110






HFF announces sale of the Quintiles Building in Overland Park, KS


Rendering of the Quintiles Office Building, College Boulevard Corridor, Overland Park, KS

Mark Katz

DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of the Quintiles Building, a 239,366-square-foot, Class A office building in Overland Park’s highly desirable College Boulevard corridor.

The HFF team marketed the asset on behalf of the seller, The Keith Corporation (TKC).

The Quintiles Building serves as a mission-critical facility for QuintilesIMS (NYSE: Q), a worldwide leader in integrated information and technology-enabled healthcare.

 Originally constructed in 2006 as a build-to-suit for Quintiles, the company recently extended its lease for 176,839 square feet through 2023.  In addition, Honeywell (NYSE: HON) took occupancy of the remaining 62,527 square feet in June 2017.

 The four-story building is located at 6700 W. 115th Street just southeast of the intersection of College Boulevard and Metcalf Avenue. The Quintiles Building is also convenient to Interstates 435 and 35 providing access to the Overland Park area, downtown Kansas City and the entire metropolitan region.

The HFF investment advisory team included senior managing director Mark Katz and senior director Peter Merrion along with managing director Sean Fogarty, a licensed Kansas real estate broker.

Peter Merrion
“Since TKC developed the building in 2006, the Quintiles Building has been one of the top assets in the Overland Park market,” Merrion said. 

  “Quintiles’ recent long-term recommitment to the property combined with Honeywell’s lease resulted in this fully leased building being especially well received by the investment market.


For more information on this release, please contact:


OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3500

Friday, January 19, 2018

Multifamily Investment in California Bay Area Remains Active: Levin Johnston Group Announces 17 Transactions in Q4 Totaling Over $238 Million


Adam Levin
BAY AREA, CA – Levin Johnston Group, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, has wrapped up Q4 2017 with an additional 17 transactions in the multifamily sector of the Bay Area market totaling over 610 units and $238 million – bringing the group’s total for 2017 to 48 transactions, and more than $600 million.

“Levin Johnston Group specializes in services that are far beyond transactional. 

"We truly are wealth and investment advisors for our clients, and our track record attests to our results,” states Adam Levin, Senior Managing Director of Levin Johnston Group. 

“With an in-depth knowledge of the Bay Area market, we are able to help our clients identify secure investments that deliver strong returns for the long term.”

Levin notes that employment fundamentals, both in numbers and in average salaries, has played a prominent role in the active multifamily investment market in Silicon Valley.

“We are fortunate to specialize in a market so close to major companies such as Apple, Google and Amazon, as well as many other firms that share the same talent pool and employee lifestyle sensibilities,” notes Robert Johnston, Senior Vice President of Levin Johnston Group. “By tapping into the potential of this market and navigating local nuances, we are able to support our Clients in leveraging the strength of this market and achieving strong value creation in their investments.”

Robert Johnston
The 17 multifamily transactions Levin Johnston Group has directed include:

Arbordale Gardens Apartments
Levin Johnston represented the buyer and the seller, both private owners, in this $27,750,000 transaction. This multifamily property consists of 72 units and is located just 2.3 miles from the TESLA Headquarters with tremendous upside potential in rental income. Arbordale Gardens Apartments is located at 42010 Blacow Road in Fremont, California.

The Bungalows at Mathilda
Levin Johnston successfully directed the $26 million sale of this 68-unit multifamily property on behalf of both the buyer and the seller, both of which are private owners. This property is in close proximity to the Microsoft headquarters as well as other large tech companies. The Bungalows at Mathilda is located at 126 W. Ahwanee Avenue in Sunnyvale, California.

Colony Manor
The $18.6 million sale of this 40-unit multifamily asset was directed by Levin Johnston on behalf of the buyer and seller. This site is located at 1660 Hollenbeck Avenue in Sunnyvale, California.

Mosaic Apartments
Levin Johnston completed the $15.9 million sale of this 41-unit multifamily property on behalf of the buyer and the seller, both private owners. The Mosaic Apartments is located at 1660 Gordon Street in Redwood City, California.

pksl
Levin Johnston represented the seller in the $15.6 million disposition of this 37-unit multifamily property in the core of Silicon Valley. This site is located at 1090 Sunnyvale Saratoga Road in Sunnyvale, California.

Village Drive Apartments
The Village Drive Apartments consists of 30 units located near major highways and interstates as well as the Caltrain station. Levin Johnston represented the buyer, a private owner, in this $15.2 million acquisition. The property is located at 1100-1114 Village Drive in Belmont, California.

Bonanza Apartments
Levin Johnston represented both the buyer and seller in this $14 million deal. This 52-unit apartment community is located just one mile from the Alameda Ferry Terminal at 430-450 Buena Vista Avenue in Alameda, California.

Calaveras and Adams
This 32-unit portfolio was sold at $11,050,000. Levin Johnston represented a private owner as the seller. The site is located at 1559 E. Calaveras Boulevard in Milpitas, California – in close proximity to the new BART station.

2.75-acre Land Sale in Fremont
This $11 million transaction was directed by Levin Johnston Group on behalf of the buyer and the seller, both of which are private owners. This 2.75 acre land site is located at 3515 Walnut Avenue in Fremont, California.

Glen Eyrie Towers
This 30-unit multifamily property sits just one mile from two major highways and is in walking distance to various downtown amenities. The $10.6 million acquisition was directed by Levin Johnston on behalf of the buyer and is located at 101 Glen Eyrie in San Jose, California.

Sol @ Campbell
Levin Johnston Group successfully completed this $10 million transaction on behalf of the buyer and seller. This 26-unit property is located in the heart of Silicon Valley at 350 Dunster Drive in Campbell, California.

67-Unit Portfolio in Santa Clara
Levin Johnston has also completed the transaction of a 67-unit portfolio in Santa Clara, California totaling $24.9 million. The portfolio consists of four separate multifamily properties near major employers including Apple, Microsoft, Intel and Amazon. Levin Johnston represented the buyer, a private investor, and the seller, a private owner in this deal. The properties are located at 1962 Bellomy Street, 1972 Bellomy Street, 1978 Bellomy Street and 470 California Street in Santa Clara, California.

Multifamily Acquisition on Elm Street
Levin Johnston successfully directed the acquisition of a 20-unit multifamily property near Downtown San Mateo. Located at 131 Elm Street, the property was acquired by a private owner for a total of $9.3 million. Levin Johnston represented the buyer in this transaction.

Villa Fairlane
Levin Johnston completed the transaction of a 35-unit multifamily property situated on 0.82 acres of land for $9,050,000. Levin Johnston represented both the buyer and the seller in this deal.  The property is located at 264 La Pala Drive in San Jose, California.

Delano Apartments
Located next door to Villa Fairlane, 35-unit Delano Apartments also sold for $9,050,000. Levin Johnston Group represented both the buyer and the seller in the transaction. The property is located at 272 LA Pala Drive in San Jose, California.

Mountain View Multifamily Disposition
Levin Johnston Group directed the sale of a 20-unit multifamily property for $8.2 million. Levin Johnston represented the seller, a private family partnership, in this transaction. The building is located at 500 Chiquita Avenue in Mountain View, California – in close proximity to major employers such as Google and LinkedIn.

Hayward Disposition
Levin Johnston successfully directed the $1.4 million disposition of an 8-unit multifamily property with tremendous value-add potential. Located at 22242 Western Boulevard in Hayward, the site is in walking distance to both Downtown Hayward and the local BART station.

For more information on this release, please contact:

Jordan Kruk / Jenn Quader
Brower, Miller & Cole
(949) 955-7940