Saturday, July 21, 2018

HFF advises FORE Partnership in £70 million acquisition loan for Tower Bridge Court, London


Tower Bridge Court Office Building,
London, England


LONDON, ENGLAND –– HFF Real Estate Limited (HFF) announces the £70 million acquisition financing of Tower Bridge Court, an iconic office building located in London’s South Bank submarket.

The HFF team advised FORE Partnership on the transaction, and the financing was provided by a leading debt fund.  In conjunction with this acquisition loan, the lender is also extending financing toward the refurbishment of the property.

Aurélien Collignon
Tower Bridge Court is the closest privately owned building to Tower Bridge, a global landmark with international appeal.  Originally developed in 1990, FORE Partnership plans to reposition Tower Bridge Court into a forward-looking workspace. 

 The result of the refurbishment will be a true “jewel box” building with increased lettable area and improved amenities, all while prioritising FORE Partnership’s sustainability and social impact principles. 

AurĂ©lien Collignon, investment director at FORE said, “We are tremendously excited to have closed on this landmark asset in one of London’s most compelling submarkets.  HFF worked quickly to assist us with thinking through the financing of this transaction and brought forward a number of debt funders that provided very compelling terms.”

Claudio Sgobba
The HFF debt placement team included managing director Claudio Sgobba and director Andrew Hornblower. 

“Tower Bridge Court is an iconic and exciting transaction that exemplifies FORE’s abilities as a savvy investor to identify and unlock value through its deep knowledge of real estate, engineering, sustainability and capital markets,” Sgobba said.

“We are thankful to have worked with the team on this transaction and are looking forward to many more opportunities to assist them in the future,” Hornblower added.

FORE Partnership is a transformational real estate investment firm that addresses the specific needs of family offices and private investors for greater alignment of their property investments with their core values.

  FORE’s investment approach drives returns with a holistic view on sustainability, design, occupational trends, community, and the built environment. 


Andrew Hornblower
 The firm calls this approach “responsible real estate.”  FORE has developed a direct co-investing platform that sources, manages and realises value through hands-on, creative real estate strategies in the UK and Western Europe.

  The team has a successful €5 billion track record spanning three decades.  FORE’s co-founders are Basil Demeroutis who was previously a Partner of Capricorn Investment Group, a private investment firm, and Cording Real Estate Group, the European property investment and asset management firm.  

For more information, please contact:

KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990


HFF announces $18.2 million financing for Fontaine Business Park in Columbia, SC



Fontaine Business Park, Columbia, SC

 WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P. (HFF) announces $18.2 million in financing for Fontaine Business Park, a four-building office portfolio totaling 253,038 square feet in Columbia, South Carolina.

Jamie Leachman
The HFF team worked on behalf of the borrower, Diversified Real Estate Ventures, to secure the five-year, floating-rate loan through Bridge Investment Group.  Loan proceeds were used to refinance the property.

Situated within the Columbia MSA, Fontaine Business Park is surrounded by more than 800,000 residents and various employers that are attracted to the state’s second largest MSA.

Positioned less than four miles from two major highways, I-20 and I-77, Fontaine Business Park provides excellent access to the greater area and the entire mid-Atlantic region.

Columbia’s position as the state capital provides a tangible insulation for the entire real estate market and the surrounding office market. Given its proximity to the state capital the property has historically been around 90 percent leased due to the constant demand from state and local government tenants.


Cory Fowler
The HFF debt placement team representing the borrower consisted of senior director Jamie Leachman, senior director Cory Fowler and associate Drake Greer.

Diversified Realty Ventures is a privately held real estate investment and advisory firm based in Bethesda, MD. 
 The firm maintains flexible investment criteria to respond quickly to changing market conditions, specializing in assets that are undervalued due to operational or financial distress. 
 Since its founding in 2010, DRV has amassed a portfolio of 1.1 million square feet of office, flex, and retail space as well as over 625 units of multifamily and student housing, in the acquisition and development of over $150 million worth of diversified properties.
For more information, please contact:

KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990


HFF announces $30 million sale of and $25 million financing for Physicians Medical Center in the San Francisco Bay Area


Physicians Medical Center,  901 Campus Drive, Daly City, CA


Paul Slye
SAN FRANCISCO, CA –– HFF announces the $30 million sale of and the $25 million financing for Physicians Medical Center, a 70,705-square-foot, purpose-built medical office building immediately south of San Francisco in Daly City, California.

The HFF team represented the seller, Swift Real Estate Partners, and procured the buyer, Pinnacle Capital Management Services (PCMS) and joint venture investment partners, Harrison Street Real Estate Capital LLC. 

Additionally, the HFF team worked on behalf of the buyer to secure the non-recourse, floating-rate acquisition loan through one of its relationship lenders.

Evan Kovak
Physicians Medical Center is located at 901 Campus Drive just 15 minutes from the Financial District and San Francisco International Airport and one mile from two local hospitals; the 357-bed Seton Medical Center and the 120-bed South San Francisco Medical Center. 

The property is situated on 2.48 acres within one of the strongest medical office markets in the country with excellent highway accessibility via Interstate 280 and State Routes 35 and 1.  

The population within a three-mile radius of the building is more than 172,000 residents earning an average household income of $111,356. 

 The three-story building is 92 percent leased – the majority to two nationally recognized anchor tenants, Palo Alto Medical Foundation – Sutter Health and Campus Surgery Center – AmSurg/Envision Healthcare.

Andrew Milne
While under ownership, Swift improved the building’s interior and exterior.  Interior upgrades included a full lobby renovation, mechanical and elevator upgrades and interior signage replacement.  

Exterior improvements included envelope, lighting and landscape upgrades as well as an asset signage package.  In addition to the building’s upgrades, Swift stabilized the asset with longer term leases, including two anchor tenants.

“We are delighted to close our second successful transaction with Swift and initiate our first with the team at HFF,” said PCMS CEO, Paul Slye.  


David Dokko
“Physicians Medical Center joins our growing portfolio of managed and joint venture investments with Harrison Street Real Estate Capital.  The fundamental strengths of this location and property will be enhanced as we continue to improve the property and strengthen its institutional grade tenant base.”

The HFF investment advisory team representing the seller included managing director Evan Kovac and director Andrew Milne, members of HFF’s national healthcare capital markets group, and director David Dokko from HFF’s San Francisco office.

HFF’s national healthcare debt and equity placement team representing the borrower consisted of senior directors Zack Holderman and John Chun and senior associate Trent Jemmett.


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

Founded in 2010, Swift Real Estate Partners is headquartered in San Francisco, and has regional offices in Orange County, Portland, the San Francisco East Bay and the Silicon Valley. 

Swift is a vertically-integrated real estate investment firm which seeks to generate superior risk-adjusted returns for its partners. 

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. 

John Chun
Since inception, Swift has owned and operated real estate valued in excess of $3 billion across more than 10 million square feet. Swift’s first institutional fund was raised in 2013 and is fully deployed. 

Swift’s Fund II was raised in 2016 and is substantially committed. Swift’s investor base includes U.S. pension funds, endowments and foundations, as well as foreign investors and investment advisors. 

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

For more information, please contact:

KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990


HFF expands its multi-housing investment advisory team with addition of senior director Bo Moore in Atlanta, GA office


Bo Moore

Jason Nettles

ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has expanded its multi-housing investment advisory team with the addition of senior director Bo Moore in its Atlanta office.  

Mr. Moore will work with senior managing director Jason Nettles and senior director Megan Thompson to execute multi-housing investment advisory transactions in the southeastern United States. 

He joins HFF from ARA where he was a director since 2010 and worked on the marketing, sale and raising of capital for multi-housing properties throughout the Southeast. 

During this time, he was involved in nearly $2 billion of closed multi-housing transactions.  Prior to ARA, he worked at Carter & Associates, LLC in a tenant representation role. 

Megan Thompson

 Mr. Moore is a member of the Atlanta Commercial Board of Realtors and holds a Bachelor of Business Administration degree from Furman University.

“Bo is a great addition to our current multi-housing team in Atlanta,” Nettles said.  “In addition to his experience in the Atlanta area, he has been active in secondary markets in Tennessee and Alabama, which will benefit our clients located in or looking to invest in these locales.”


For more information, please contact:

 KRISTEN MURPHY
HFF Director, Public Relations
(617) 848-1572


JLL completes first Phoenix sale of Black Rock Coffee Bar location in Mesa, AZ



Black Rock Coffee Bar Building, Mesa, AZ

Peter Bauman
 PHOENIX, AZ – On behalf of SimonCRE, the Phoenix office of JLL has completed the sale of a stand-alone retail/restaurant building in Mesa, Arizona that is fully occupied by Black Rock Coffee Bar.

The transaction represents the first sale of a Black Rock-occupied building since the coffee franchise entered the Phoenix market in 2016. Black Rock Coffee remains the building’s primary tenant.

JLL Senior Vice Presidents Peter BaumanTivon Moffitt and Tyson Switzenberg, and Senior Managing Director Dennis Desmond represented the building developer and owner, SimonCRE, and the property buyer, The Emas Family Trust, in the $1.7 million transaction.

Tivon Moffitt
“SimonCRE develops phenomenal product and this building – which is the first single-tenant, build-to-suit Black Rock Coffee location constructed in Arizona – was no exception,” said Bauman.

“The listing received an extreme amount of interest from the private capital market before it was sold in a 1031 exchange. Its new owner has a strong history in net lease Arizona properties and understands the value of this asset.”

“Having a great tenant like Black Rock Coffee and a location within such a strong trade area made this a tremendous investment opportunity,” said Joshua Simon, CEO and Founder of SimonCRE. “We were thrilled to be a part of this project and be a part of Black Rock Coffee’s expansion in Arizona.”

Tyson Switzenberg
The free-standing Black Rock Coffee building is a custom build-to-suit space featuring indoor and outdoor seating and a drive through. 

Scottsdale-based SimonCRE completed the project in February of this year. Black Rock Coffee took occupancy in March.

A full-service commercial real estate developer, SimonCRE specializes in ground-up development, build-to-suits and redevelopment projects across the United States. 

Its Mesa Black Rock Coffee building is located at 1440 S. Higley Rd., within a Lowe’s-anchored retail center and situated immediately south of the US 60 in Mesa, Arizona. The site offers a hard, signalized corner with monument signage, high traffic counts and strong demographics.

“Phoenix represents a major growth market for Black Rock,” said Switzenberg, who since 2016 has completed multiple Phoenix-area leases for the Black Rock Coffee concept. “Our communities have responded well to each new location, and that has Black Rock on a steady search for more Valley site opportunities.”

Dennis Desmond
Based in Portland, Oregon, Black Rock Coffee Bar operates more than 53 company-owned and franchise stores in Arizona, California, Idaho, Oregon and Washington, and coming soon to Colorado. 

Each Black Rock Coffee Bar serves single origin coffee roasted in small batches and medium to dark blends, as well as local pastries, smoothies, drinks for kids, juices and blended coffee drinks.

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. 

Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. 

In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 83,500 as of March 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

Joshua Simon
In Phoenix, JLL is a market leader employing more than 580 of the region’s most recognized industry experts offering office, industrial, retail, healthcare and data center brokerage, tenant representation, facility and investment management, capital markets, multifamily investments and development services, and related services within the real estate leasing, investment and management process. 

In 2017, the Phoenix team completed 35.7 million square feet in lease and sale transactions valued at $1.9 billion, directed $112 million in project management and currently manages a 24.2 million-square-foot portfolio. 

For more information, please contact:

Stacey Hershauer
Phone: +1 480 600 0195




Bull Realty Brokers $10.4 Million Medical Office Building Sale in Knoxville, TN


Knoxville Dermatology Group building,, Knoxville, TN

Michael Bull
ATLANTA, GA — The Healthcare Real Estate Services Group at Bull Realty brokered the sale of the Knoxville Dermatology Group building, a Medical Office Building located on 2.65 acres in Knoxville, TN. The sale closed on July 16, 2018 for $10,400,000.
The property is 100% occupied by Knoxville Dermatology Group, who has been in the Knoxville market for more than 40 years.
The team of Michael Bull and Paul Zeman with Bull Realty represented the seller, Dermatology Investment Group, LLC. 
“The seller saw the timing appropriate to sell before interest rates rise further. The marketing generated multiple competing offers from a wide range of buyer types,” said Bull.  

Paul Zeman
Healthcare Real Estate Services (www.HealthcareRealEstateServices.com) are specialty brokers with Bull Realty, Inc. (www.BullRealty.com), a commercial real estate brokerage and advisory firm headquartered in Atlanta, licensed in nine states providing acquisition, disposition, leasing, management and advisory services. The firm also produces and hosts America’s Commercial Real Estate Show (www.CREshow.com).
Bull Realty TN License # 259046

 For more information, please contact:

Melissa Henry
Communications Manager
404-876-1640 x 110

Levin Johnston Directs $25 Million Sale of Two Self-Storage Facilities in Highly Sought-After Silicon Valley Submarket


Self-Storage Facilities, Los Gatos, CA

SILICON VALLEY, CA  Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, has successfully directed the sale of two institutional quality self-storage facilities in the highly desirable Los Gatos submarket of Silicon Valley, California.

Adam Levin
Adam Levin, Senior Managing Director of Levin Johnston and Jacob Becher, Vice President of Investments and Associate Member of National Self Storage Group at Marcus & Millichap, represented the buyer, a private high net worth family seeking to expand its portfolio, as well as the seller, a private high net worth individual, in the transaction.
“This transaction is a strong example of value creation through diversification in the commercial real estate industry,” says Levin. “We brought in a buyer that historically invested only in multifamily properties and was accustomed to very tight cap rates. 
"By bringing these two entities together, we were able to help the buyer diversify the family’s portfolio while also helping the seller to achieve a premium price that was attractive to both parties.”

Jacob Becher
Levin notes that the buyer understood the value in the strategy and recognized that the higher sale price was the key to securing the property while remaining well within its acquisition criteria.
“These are trophy assets in a high-end, core market where the residual land value will sustain and likely appreciate,” says Levin. “By approaching the transaction with a wealth management mindset, we were able to compete with national interest among self-storage buyers and ultimately direct a transaction that was a win for both the seller and the buyer.”
The two facilities, 688 University Avenue and 17443 Farley Road West, are located less than half a mile apart and within two miles of two primary Bay Area thoroughfares: SR-17 and SR-85.

For more information, please contact:

Alex Caswell / Jenn Quader 
Brower Group
(949) 955-7940