Monday, June 11, 2018

Arbor Funds $21.7 Million Fannie Mae DUS® Loan in East Point, GA

Ryan Duff

UNIONDALE, NY (June 11, 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 Small Loan in East Point, GA.

Parkside at Camp Creek Apartments, a 486-unit multifamily property, received $21,700,000 for refinancing. The deal was structured with a 7-6 ARM product on a 30-year amortization schedule.

Parkside at Camp Creek Apartments
 East Point, GA
Ryan Duff of Arbor’s New York City office originated the loan. “Arbor was able to support our repeat client through a strategic product line,” Duff said. “We secured great long-term refinancing terms for our Sponsor, after property improvements were made and cash flow increased during the original loan’s 12-month lockout period.”

Built in 1970, Parkside at Camp Creek Apartments is conveniently located just southwest of Atlanta’s central business district. This beautifully landscaped community offers 2-3 bedroom floor plans in both garden and townhome style layouts. Amenities include a clubhouse, laundry facility, fitness center, two swimming pools, playgrounds and a basketball court.

For more information, please contact:

Bina Handa
Tel: 516.506.4229

Aventura ParkSquare Strengthens Sales Team with Mixed-Use Property Specialists

Rendering of Planned Aventura ParkSquare, Aventura, FL

Michael Sadov
AVENTURA, FL (June 11, 2018)- Aventura ParkSquare, (APS) Aventura’s only live, work, play real estate development has tapped The Real Estate Club’s Michael Sadov as Director of Sales.  APS is strengthening its sales team to accommodate the development’s fast growth.

Sadov brings more than 15 years of experience selling and marketing high-end developments.  He was Director of Sales at PARAMOUNT Miami Worldcenter, Terrazas Miami and Canyon Ranch Living Miami Beach.

Veteran multi-use specialists Liza Hernandez, Christopher Lima and Nir Perets are also joining the APS team.

 Most recently, Hernandez was the Director of Sales at Bijou Bay Harbor and Senior Sales Executive for PARAMOUNT Miami Worldcenter.

Lima brings 10 years of experience working with Fortune Development Sales.

Liza Hernandez

 Perets was Sales Director of Midtown Miami during its preconstruction phase and has 16 plus years of experience in residential real estate, pre-construction and development sales.
The team brings a vast knowledge of mixed-use sales and lifestyle property expertise.

Christopher Tito Lima
 “Now is the time to have all hands on deck,” said Victor Ballestas, principal of Integra Investments. The APS developer. “Our vision of having a city within a city is coming to life and, with the help of our expanded sales team, we will deliver this unique, special project.”

The nearly 7.5-acre development will have 131 boutique residences, 50,000 square feet of retail space, which feature a variety of restaurants and health and wellness tenants, 100,000 square feet of Class A office space, a 40,000 square-foot wellness and medical center and a Starwood Aloft Hotel.

The office space is already 100 percent sold out and more than 70 percent of the luxury residences are under contract. It is located at 2920 NE 207th Street in Aventura.

Nir Perets
“After living in Aventura for the past 14 years, I am excited to see a project like this going up in my backyard,” Sadov said. “This is the only project of its kind in Aventura and is bound to bring new life to our great city.”

They are currently offering a competitive broker liaison program, where brokers can earn commission for referrals.

For more information about the residences and other aspects of Aventura ParkSquare, contact Michael Sadov at 786-285-5594.
For more information, visit the sales center at 2920 NE 207 St., Suite 106 Aventura, 33180, call 305-330-4003 or email info@aventuraparksquare.

 For more information, please contact:

Lauren Berger
Account Director, BoardroomPR
O 954-370-8999
C 954-551-0757
Bank of America Plaza | 1776 N Pine Island Road
Suite 320 | Fort Lauderdale, FL 33322

Pendulum Property Partners Establishes San Diego, CA Presence

Kevin Hayes

Irvine, CA (June 11, 2017) – Pendulum Property Partners (Pendulum), a fully integrated commercial real estate firm based in Southern California, recently acquired StoneCrest, a Class-A office campus centrally located in San Diego County. 
 StoneCrest totals 327,204 square feet and consists of four institutional quality office buildings that range from three to six stories in the Kearny Mesa submarket.

According to Kevin Hayes, Founding Partner at Pendulum, “StoneCrest marks our first San Diego acquisition and is part of our 2018 strategy to expand our presence into the region.
 StoneCrest is among the highest quality assets in Kearny Mesa, which has the lowest overall office vacancy rate in the county and is poised for significant long-term growth. We plan to make improvements to the property that will enhance the experience for our customers.”

Pedulum purchased the property, in an off-market transaction, for $100.3 million and plans to make cosmetic upgrades including: improvements to the hardscape, adding comfortable seating to the courtyard, updating lobbies, restrooms and common areas, modernizing the fitness center, and improving the on-site food offerings with upgrades to the existing deli and the addition of local food trucks to offer more variety.

 The property is currently 92.7% occupied, providing secure in-place cash flow, by a recognized mix of local and national tenants including Blue Cross Blue Shield, Mercury Insurance, Vitas Healthcare, and ACE Insurance.
StoneCrest is Pendulum’s fifth Southern California-based acquisition in the past 18 months, proving the company’s commitment to this region. 

 Pendulum’s other acquisitions total more than $250 million and include:

Jamboree Business Center in February 2017, a 156,000 square foot office building in Irvine; Peter’s Landing in September 2017, a 94,000 square foot marina-front office and retail project in Huntington Beach; Brickyard in September 2017, a 12 acre site in Ontario entitled for an entertainment/retail district; and Stadium Crossings in December 2017, a 165,000 square foot campus in Anaheim.

For more information, please contact:

Stacey Kaszton Jones
Direct - (213) 925-8177


JLL adds tax expert Lou Newman to Valuation and Advisory Services team in Phoenix, AZ

Lou Newman

PHOENIX, AZ, June 11, 2018  JLL announced today that they have added Lou Newman to their Valuation and Advisory Services Team as Senior Vice President. He will be based in the firm’s Phoenix office and is a nationally recognized expert in the field of property tax.

Newman will provide JLL’s clients with full service property tax consulting including due diligence, tax liability forecasting, proactive engagement with taxing authorities, administrative challenges, litigation, compliance, and guidance on exemptions, parcel reconfiguration, proposed construction, and transactions. 

Michael Welch
“Lou is considered an important voice in the industry and his deep knowledge of tax issues and diverse experience will provide our clients with a greater understanding of the perspective of all stakeholders in the complex property tax process,” said Michael Welch, JLL’s head of Valuation and Advisory Services in the U.S. 

Before joining JLL, Newman was a Senior Tax Manager for a leading retailer where he represented the company throughout the United States, led regional practices, managed tax policy related to legislation, and chaired training for the company’s Global Tax Controversy Center for Expertise. 

Prior to that, Newman was a national practice consultant. He also has leadership experience in the public sector. As the Supervising Appraiser in the Major Properties Division of the Office of the Maricopa County Assessor in Phoenix, Newman led the team in the management of administrative challenges and litigation. 

Newman is a member of the International Association of Assessing Officers (IAAO). He has served on the organization’s Board of Directors, and twice received the Harry Galkin Award for private sector service. He is a member of the Institute for Professionals in Taxation (IPT), and has spoken at the organization’s Annual Conference and Property Tax Symposium. He also serves as an advisor to the International Property Tax Institute (IPTI). 

For more information, please contact:

Stacey Hershauer
Marketing & Public Relations
(480) 600-0195