Monday, May 21, 2018

HFF announces $10.2 Million in financing for Tulfra Real Estate self-storage development in Northern New Jersey

Jon Mikula
FLORHAM PARK, NJ, May 21, 2018  Holliday Fenoglio Fowler, L.P. (HFF) announces the placement of $10.2 million in financing for the development of a 925-unit, to-be-built, CubeSmart-branded self storage facility on the border of Nutley and Clifton in Passaic County, New Jersey.

The HFF team worked on behalf of the developer, Tulfra Real Estate, to place the construction loan with Bank of New Jersey.  Loan proceeds will be used for acquisition costs, site improvements, construction and facility lease up.

  In addition to 10 Kingsland, Bank of New Jersey has financed numerous projects developed by Tulfra Real Estate. 

The three-story, 125,000-square-foot self storage facility will contain 765 climate-controlled and 160 non-climate-controlled units in a variety of sizes. 

CubeSmart will lease up and manage the property, which includes retail space for selling supplies and facilitating unit and truck rentals. 

Situated on 6.5 acres at 10 Kingsland Street in Nutley, the facility is on the border of Nutley and Clifton and adjacent to Route 3, a prominent retail corridor. 

Michael Klein
Within a three-mile radius of the property, there are an estimated 92,237 households, including 41,756 renter-occupied housing units, and the Garden State Parkway is 2.5 miles west of the property, and Interstate 95 (New Jersey Turnpike) is five miles east. 

The HFF debt team representing the developer included senior managing director Jon Mikula and managing director Michael Klein.

“HFF is pleased to have placed yet another loan for Tulfra Real Estate,” Klein said.  “The property’s location off Route 3, its strong demographics within the trade area and a top-tier operator such as CubeSmart made this a very attractive deal to lenders.”
HFF and Holliday GP Corp. are licensed New Jersey real estate brokers.

 For more information, please contact:

HFF Digital Content/Public Relations Specialist
(713) 852-3420

HFF Director, Public Relations
(617) 338-0990

HFF announces $109.8 Million sale and $103.61 Million financing of 1390 Market Street in San Francisco to Swift

1390 Market Street, San Francico, CA

Michael Leggett

SAN FRANCISCO, CA, May 21, 2018  HFF announces the $109.8 million sale and the $103.61 million financing of a subdivided condominium interest in 1390 Market Street, a transit-oriented, 219,711-square-foot office building with ground-floor retail in San Francisco, California.

The HFF team represented the seller, Broadreach Capital Partners, and procured the buyer, Swift Real Estate Partners. 

 Additionally, the HFF team arranged a floating-rate acquisition loan through Brookfield on behalf of the buyer.

1390 Market Street is located in San Francisco’s Mid-Market, which has become one of the most desirable neighborhoods for growing technology companies. 
Gerry Rohm
This location along Market Street is just two blocks from the Civic Center BART/Muni station providing all major forms of public transit to the San Francisco International Airport, Oakland and the greater Bay Area. 

Originally built in 1967, 1390 Market Street was renovated in 2007 and features 218,791 square feet of office space and 920 square feet of ground-floor retail. 

 The LEED Gold certified building is leased to tenants, including Twitter, Jones Clifford and several branch offices of the City of San Francisco.  The property also includes apartments on the top floors of the building, which were not a part of the sale or financing.

David Dokko

“We are pleased with the acquisition of 1390 Market Street, and are excited to expand our presence in San Francisco,” said Tommy Christman, the asset manager of the acquisition.  “We believe 1390 Market has the potential to be Mid-Market’s premiere multi-tenant destination appealing to a wide array of tenants, including those in government and tech.”

The HFF investment advisory team representing the seller included senior managing directors Michael Leggett and Gerry Rohm, senior directors David Dokko and Ben Bullock, director Thomas Foley and analyst Austin White.

The HFF debt placement team representing the borrower that arranged the Brookfield financing consisted of senior director Jordan Angel and analyst Bercut Smith.

Ben Bullock
Holliday GP Corp. ("HFF") is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

Headquartered in San Francisco, Swift Real Estate Partners (“Swift”) is a vertically integrated real estate investment firm, which seeks to generate attractive risk-adjusted returns for its investors. 

Swift acquires and repositions office and industrial assets in select West Coast markets, identifying unique opportunities and executing well-defined business plans while providing real-time, day-to-day oversight for each investment. 

Since inception, Swift has owned and operated real estate valued in excess of $3 billion across more than eight million square feet. 

Christopher Peatross
Swift’s professionals bring experience encompassing all aspects of real estate investment and management, including acquisition, financing, leasing, disposition, construction management, property management and creative and marketing services. 

 Swift was founded in 2010 by Christopher Peatross.

For more information, please contact:

HFF Director, Public Relations
(617) 338-0990

$33.5 Million financing for 360-unit multi-housing community in Chandler, AZ announced by HFF

Autumn Creek Apartments, Chandler, AZ

DENVER, CO, May 21, 2018  HFF announces $33.5 million in financing for Autumn Creek Apartments, a 360-unit, multi-housing community in the Phoenix suburb of Chandler, Arizona.

Josh Simon
The HFF team worked on behalf of Western Wealth Capital, which acquired the property on behalf of the borrower, an MDC Realty Advisors USA, Inc.-managed fund, to secure the five-year, floating-rate loan through an international bank. 

The loan was used to acquire the property and includes a future-funding component to assist the borrower with their capital expenditure program. 

This transaction follows the recent announcement of financing HFF arranged on behalf of the partnership with the same lender for Greentree Place, a 256-unit apartment community less than 2.5 miles south of Autumn Creek Apartments.

Autumn Creek Apartments is located at 1320 N. McQueen Road approximately one mile east of N. Arizona Avenue and 23.5 miles southeast of the Phoenix CBD. 

 In addition, the property offers nearby access to a variety of major shopping, dining and entertainment amenities such as Downtown Chandler, Tumbleweed Park and San Marcos Golf Course.

Brad Miner
The two-story, garden-style community features fountains, expansive lakes, streams and resident amenities, including a swimming pool, basketball and volleyball courts, fitness center and business center. Autumn Creek Apartments is 95 percent occupied.

The HFF team representing the borrower included managing director Josh Simon and senior director Brad Miner.

Holliday GP Corp. ("HFF") is a commercial mortgage broker licensed with the Arizona Department of Financial Institutions, License Number CMB 0935500 and NMLS Number 1524298.

For more information, please contact:

HFF Public Relations Specialist
(713) 852-3500

Arbor Funds $21.4M Fannie Mae DUS® Deal in Houston, TX

Casa del Mar Apartments, Houston, TX


UNIONDALE, NY (May 21, 2018) – 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, recently funded a Fannie Mae DUS deal in Houston, TX.

Brian Scharf
Casa del Mar, a 354-unit apartment community received $21,477,000 for refinance cash out under a Fannie Mae DUS loan program. The deal was structured with a 7-6 ARM product on a 30-year amortization schedule.

Brian Scharf of Arbor’s Uniondale office originated the loan. “This high leverage loan reflects a combination of the agency’s commitment in 2018 to win business, as well as Arbor’s ability to structure a loan that satisfied all of the borrower’s goals,” Scharf stated.

Located off I-45 north of Downtown Houston, this pet-friendly community offers multiple one and two bedroom floor plans. Amenities include two swimming pools, spa, tennis court, laundry facilities, playground and clubhouse in a beautifully landscaped gated community.

For more information, please contact:

Bina Handa
Tel: 516.506.4229

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

Ryan Smyth Joins 29th Street Capital as Vice President Acquisitions Florida

Ryan Smyth
Orlando, FL  (May 21, 2018) – Ryan Smyth has joined 29th Street Capital (29SC) as Vice President of Acquisitions for Florida, with a focus on Central Florida.
Smyth is responsible for all facets of the privately-held real estate investment advisory firm’s multifamily acquisitions and asset management strategies in the state.
He will target opportunistic and value-add acquisitions with the goal of establishing a strong company presence in the market and add to the company’s existing portfolio, which spans coast to coast.
“I’m extremely excited to be joining 29th Street Capital to continue to grow the company’s presence in the state of Florida,” said Smyth. “Florida is a natural option for expansion, given the state’s explosive population and job growth. It’s an exciting time for the state.”
Prior to joining 29th Street Capital, Smyth was the Associate Director of Acquisitions for Venterra Realty. He was responsible for sourcing, analyzing and negotiating the purchase of multifamily assets in Central Florida. During his time at Venterra, he sourced the acquisitions of The Cobblestone at Eagle Harbor Apartments in Jacksonville and Citrus Run Apartments in Tampa.

For more information, please  contact:

Terri Thornton
Partner, Thornton Communications