Sunday, June 10, 2018

B+E announces sale of NNN Publix property in Perry, GA for $11.4 million

Publix, 275 Perry Parkway, Perry, GA
NEW YORK, NY – B+E, offering the first end-to-end trading platform for buyers and sellers to conduct triple net lease (NNN) transactions online, announced the sale of a Georgia Publix property for $11.4 Million.

Located at 275 Perry Parkway in Perry, GA, the 72,200 square foot location has a remaining 11 year lease with Publix Super Markets, Inc. 

The property was sold by a private Florida-based developer to Flag Wharf, Inc., a Boston-based commercial real estate company.  The sale demonstrates the new brokerage firm’s national reach.

With offices in New York, Tampa and San Francisco, B+E sets the new standard for net lease real estate brokerage services and performance.  

For more information, please contact:

John Vita
John Steven Vita Communications

Pulte Begins Pre-selling Three Mesa, AZ Neighborhoods in Cadence at Gateway

Craig Krumwiede

PHOENIX, AZ – Cadence at Gateway – just off SR 24 at Ellsworth and Ray Roads in Mesa – is beginning pre-sales. Harvard Investments, developers of Cadence is proud to announce Pulte Homes has begun preselling in the Valley’s premier master planned community.

 This is the first builder to begin preselling at Cadence, with several of the community’s other four homebuilders expected to follow shortly in response to growing demand for a home at Cadence.

Harvard Investments, developer of Cadence at Gateway and an Arizona-based real estate investment and development company, is finishing up the amenities in preparation for its planned October 2018 grand opening.

“We’ve had tremendous interest in Cadence. Realtors® and potential buyers recognize this is unlike anything else in the market, and are blown away that residents will have access to all the private amenities, fitness center, pools, and parks for an HOA of around $125 per month.” said Craig Krumwiede, president of Harvard Investments.

 “With all of the interest in Cadence, Pulte is moving forward quickly with preselling which will allow people to begin enjoying life at Cadence as soon as possible. That’s one of the reasons we built The Square to be open and ready on Day One.”

Scott Wright
“Cadence is the right location at the right time; with convenient freeway access and over a dozen top-ranked schools close by. We want Cadence available to families eager to make a move now to this part of the Valley,” said Scott Wright, Division President for Pulte Arizona.

"We’ve worked hard to learn what people are looking for. We ask, and then more importantly, listen to the actual homebuyer. 

"This is our Life Tested® process and it is unique in the industry because we seek feedback from owners about how they live and what they want most in their next home.

"At Cadence, this meant three thoughtful neighborhoods, each incorporating stylish and functional spaces for a house that feels like home.”

For more information, please contact:

Heather Austin 

Markets Bracing for Three More Fed Rate Hikes This Year

John Oharenko

CHICAGO, IL -- Real Estate Capital Institute reports that from the middle of last month, benchmark rates peaked to their highest levels since 2014. The 10-year treasury topped 3.05% and settled down by 15 basis points by month's end. The markets are bracing for as many as three more Fed rate hikes this year.
The Real Estate Capital Institute's(r) director, John Oharenko, notes,
"Creating a 'perfect deal' from the financing perspective would be focused
on an urban, infill mixed-use project with a balanced affordable rental

Policymakers target a two-percent growth rate, helping to create [and
prolong] the following trends:

Higher Rates and Spreads: Unlike earlier this year when funding sources
often absorbed rate hikes with tighter mortgage spreads, pricing is
widening. Overall rates are about thirty basis points higher than a month
ago. Furthermore, higher leverage loans (e.g., 85%) substantially widened
by about a percent. Today's rates are in the mid-four-to-five-percent range
for permanent debt of ten years or longer for lower leverage loans. Higher
leverage pricing starts with a five-percent handle.

Real Property is Real Safe: Even with rising rates, investors want solid
and safe yield alternatives to stocks. For the most part, commercial real
estate supply-demand basics appear balanced. Fundamentals remain solid
across property types, with some concern of overbuilding in select
multifamily markets. Credit-tenant properties attract the most demand,
followed by industrials, apartments, retail and office ventures. Prime
senior, student, self-storage, datacenter and lodging assets attract
competitive pricing that closely competes with traditional property types.
More and more, investors are turning their attention to infill and
transit-oriented locations, moving away from focusing on separate asset
classes, with mixed-use properties emerging as favored investments.

Mission Money: Social investing gains momentum as financial institutions
and governmental agencies tackle a myriad of real estate issues. Investors
and developers work with municipalities to solve workforce housing demands
by negotiating favorable zoning, property tax relief, etc. Meanwhile,
attractive financing surfaces through availability of construction loans, as
well as higher leverage and lower interest rates. In exchange for favorable
long-term debt, owners frequently agree to maintain lower rents in
conjunction with the debt term.

For more information, please contact:


$17.3 million financing for Spring Meadow Apartments in Glendale, AZ announced by HFF

Josh Simon
DENVER, CO –– HFF announces $17.3 million in financing for Spring Meadow, a 271-unit, apartment community in the Phoenix suburb of Glendale, Arizona.

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 a national bank. 

The partnership acquired the property on an all-cash basis in October 2017, and this loan was arranged post-close to assist with their capital expenditure program. 

This transaction follows four other recently announced loans HFF arranged on the partnership’s behalf for Greentree Place and Autumn Creek Apartments in Chandler, Arizona, as well as Brynwood and Sereno Park Apartments in San Antonio, Texas.

Brad Miner
Spring Meadow is located at 10030 North 43rd Avenue minutes from downtown Glendale, Glendale Community College and Westgate City Center.  The property is also close to Interstate 17 and State Highway 101, which offers accessibility around the greater Phoenix metropolitan area.

  Spring Meadow comprises one- and two-bedroom units ranging from 525 to 918 square feet.  Some of the units have undergone recent upgrades to include new appliances, flooring, paint, fixtures and in-unit washers and dryers.  Amenities include a swimming pool, hot tub, barbecue/picnic area, fitness center and covered parking. 

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

NAI Realvest Negotiates Leases Totaling 16,809 SF at Goldenrod CommerCenter in East Orlando, FL

Michael Heidrich

ORLANDO, FL--- NAI Realvest recently closed on three leases for 16,809 rentable square feet of industrial space at Goldenrod CommerCenter on Goldenrod Rd. in east Orlando representing the landlord Goldenrod SPE, LLC.

Michael Heidrich, principal at NAI Realvest and associate Patty Nolff negotiated a new  lease agreement with Winter Park Cheer Athletics for 6,000 square feet at 1460 N. Goldenrod Rd.

Patty Nolff

 At 1468 N. Goldenrod Rd. Heidrich and Nolff negotiated an expansion/renewal lease   for 6,618 square feet with Epic Orlando Sports LLC, d/b/a Uprising Cheer Elite.

Heidrich also negotiated a renewal lease agreement with Islamic Society of Central Florida for 4,191 square feet at 1460 and 1476 N. Goldenrod Rd. in the CommerCenter.
For more information, please contact:

Beth Payan or Larry Vershel, Larry Vershel Communications,