Wednesday, October 10, 2018

289-Unit Apartment Sale Kicks Off Charles Wayne’s Junction at DeBary Station in DeBary, FL


Steve Costa
DeBary, FL--- DeBary Town Center , LLC, an affiliate of Charles Wayne Properties, Inc. of Daytona Beach , recently closed the $4.1 million sale of 15 acres for a luxury apartment community within “The Junction,” a $200 million development across from the DeBary SunRail station.

Buyer Integra 289 Exchange, an affiliate of Lake Mary-based Integra Land Company, will build 289 apartments, located near the southeast corner of Dirksen Drive and U.S. Highway 17-92.  Groundbreaking will take place within the next 30 days.

Steve Costa, Principal with NAI Realvest/Charles Wayne Commercial is leading the sales and marketing at the DeBary Town Center which spans 68 acres and to date is the largest transit-oriented development project on the north leg of the SunRail route.

DeBary, FL SunRail Station
Costa said his team is now in discussions with national grocery chains and other commercial users to complete The Junction’s mix of retail, entertainment, residential and natural amenities.  

Charles Wayne is planning to develop 104,000 square feet of retail space including a planned 46,000 square foot grocery store, as well as restaurants and offices.  Costa is talking to selected builders for the project’s next phase – 150 single family detached homes.


CONTACTS:
  
Steve Costa, Associate, NAI Realvest / Charles Wayne Commercial, 
386-804-7259 scosta@realvest.com

Ted Lightman, Principal, Charles Wayne Properties, Inc., 386-238-3600 or tlightman@charleswayne.com

Patrick Mahoney, President, NAI Realvest, 
407-875-9989 Pmahoney@realvest.com

Beth Payan, Larry Vershel Communications Inc. 407-644-4142 or 



Arbor Funds $8.4 Million Fannie Mae Loan in Millcreek, UT



Tapestry Townhomes, Millcreek, UT

UNIONDALE, NY  (Oct. 9, 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® Loan in Millcreek, UT.


Garth Davis
Tapestry Townhomes, which consists of seven, three-story apartment buildings totaling 42 units, received $8.4M in refinance funding through Fannie Mae’s Streamlined Rate Lock (SRL) product. 

The Tier II loan is structured with a 12-year fixed rate term and a five-year interest only period, followed by a 30-year amortization schedule.

Garth Davis of Arbor’s San Francisco office originated the loan.

“By achieving an early, three-week rate lock with Fannie Mae’s SRL process, we were able to eliminate interest rate risk exposure,” said Davis. “The loan will fund a complex that offers a superior lifestyle compared to competing properties in the area.”

Located in the Salt Lake City Metropolitan Area, Tapestry Townhomes features modernly designed exteriors and interior amenities such as high-end wood cabinets, soaking tubs, gourmet kitchens, washer/dryer units and private balconies.

 CONTACT:

Bina Handa
Tel: 516.506.4229


Chatham Lodging Announces Third Quarter Earnings Call to be Held Wednesday, Oct. 31, 2018



Jeffrey H. Fisher

WEST PALM BEACH, FL—Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels and owns 136 hotels wholly or through joint ventures,  announced that it will report third quarter 2018 financial results on Wednesday, October 31, 2018, before the opening of the market.  
That same day at 10:00 a.m. ET, Jeffrey H. Fisher, Chatham’s chief executive officer, Dennis M. Craven, executive vice president and chief operating officer, and Jeremy Wegner, senior vice president and chief financial officer, will host a conference call to review third quarter 2018 financial results.

Dennis M. Craven
Shareholders and other interested parties may listen to a simultaneous webcast of the conference call on the Internet by logging onto Chatham’s Web site, http://chathamlodgingtrust.com/, or www.streetevents.com, or may participate in the conference call by dialing 1-877-407-0789 and referencing Chatham Lodging Trust.  
A recording of the call will be available by telephone until 11:59 p.m. ET on Wednesday, November 7, 2018, by dialing 1-844-512-2921, reference number 13683776.  A replay of the conference call will be posted on Chatham’s website.
Chatham Lodging Trust is a self-advised, publicly-traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. 

Jeremy Wegner
The company owns interests in 136 hotels totaling 18,616 rooms/suites, comprised of 41 properties it wholly owns with an aggregate of 6,116 rooms/suites in 15 states and the District of Columbia and a minority investment in two joint ventures that own 95 hotels with an aggregate of 12,500 rooms/suites. 

Chatham Declares Monthly Common Share Dividend of 11 Cents

WEST PALM BEACH, FL,  Oct.10, 2018—Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels and owns 136 hotels wholly or through joint ventures, today announced that its board of trustees has declared a monthly common share dividend of $0.11 for October 2018. The common dividend is payable November 30, 2018, to shareholders of record on October 31, 2018.

CONTACTS:

                Chris Daly                                                               Dennis Craven
Daly Gray Public Relations                                    Chatham Lodging Trust
(Media)                                                                 (Company)
chris@dalygray.com                                             dcraven@cl-trust.com
(703) 435-6293                                                     (561) 227-1386      


HFF announces refinancing for a newly renovated Class A office building in Uptown Charlotte, NC


300 South Brevard Office Complex,  Uptown Charlotte, NC

 CHARLOTTE, NC, Oct.  9, 2018  Holliday Fenoglio Fowler, L.P. (HFF) announces the refinancing for 300 South Brevard, a 358,855-square-foot, Class A office building in Uptown Charlotte, North Carolina.

Travis Anderson
The HFF team worked on behalf of the borrower, Stream Realty Partners, L.P., to secure the four-year, floating-rate loan through PCCP, LLC. 

300 South Brevard is located in the heart of Uptown strategically positioned adjacent to the Lynx Blue Line’s 3rd Street Station and within a block of the Charlotte Transit Center.  

The property is connected via a covered walkway to Overstreet Mall, which is a network of skywalks providing accessibility to numerous retail and dining options through Uptown. 

 Additionally, the 15-story office tower is adjacent to the Charlotte Convention Center, which attracts more than half a million visitors each year; and is across the street from the NASCAR Hall of Fame, as well as being proximate to numerous demand drivers in downtown Charlotte. 

Cory Fowler
 Recent renovations focused on establishing a collaborative, modern office setting that will appeal to young professionals as well as improving the property’s efficiency.  

Updates were made to the lobby, elevator tower and building fa├žade, among others, and new ground floor and lobby level retail spaces were added along with an outdoor terrace and patios.  300 South Brevard also offers tenants parking in a five-level, 552-space parking structure.

The HFF debt placement team representing the borrower included senior managing director Travis Anderson, senior director Cory Fowler and associate John Gavigan.

“Stream has done a phenomenal job revitalizing an old, tired building into modern, sleek office space to attract the growing pool of talent in Charlotte,” Fowler said. 

John Gavigan
“We believe Stream is positioned to take advantage of Charlotte’s growth, which has seen a lot of success in the office sector, especially in Uptown,” added Anderson.

CONTACTS:

TRAVIS ANDERSON
HFF Senior Managing Director
(704) 526-2800

CORY FOWLER
HFF Senior Director
(704) 526-2800

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



HFF announces sale of 1400 Atwater Drive in suburban Philadelphia, PA



1400 Atwater Drive Office Complex, Malvern, PA

PHILADELPHIA, PA, Oct. 10, 2018 HFF announces the sale of 1400 Atwater Drive, a 299,809-square-foot, Class A office building in the Philadelphia-area community of Malvern, Pennsylvania.

The HFF team represented the seller, Gramercy Property Trust.  Equus Capital Partners, LTD purchased the asset.  1400 Atwater was marketed in conjunction with a portfolio of office assets located in Florida, Illinois, New Jersey, North Carolina, Ohio, Tennessee and Texas.

1400 Atwater Drive is ideally positioned on a 24.84-acre site overlooking Atwater Lake within the Atwater Corporate Center, the newest office development in the Malvern/Exton submarket. 

Aerial photo of 1400 Atwater Drive, Malvern, PA

 The five-story property has direct access to the Pennsylvania Turnpike via Route 29 and affords commuters easy access to the Greater Philadelphia area, including Philadelphia’s central business district approximately 30 miles southeast and Philadelphia International Airport, located 35 miles away. 

 Completed in 2013, the LEED Silver-certified building is fully leased to Endo Pharmaceuticals as its North American Headquarters.

According to HFF, “1400 Atwater is widely considered one of the premier office buildings in Greater Philadelphia and features a dynamic rent roll that offers Equus Capital Partners, LTD a stable income stream.”


 CONTACTS:
DOUG RODIO
PA Lic. #RS296680
HFF Senior Managing Director
(484) 532-4200

ANDREW LEVY
HFF Senior Managing Director
(214) 265-0880

BRETT SEGAL
HFF Managing Director
(484) 532-4200

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



DIX Developments Closes $5 Million Sale of 53-Acre Halifax Town Center in Ormond Beach, FL


John Kurtz

Ormond Beach, Fla. --- Stirling International Real Estate recently arranged the $5 Million sale of Halifax Town Center in Ormond Beach , Fla.

 Dixie 95 OBD, LLC a company related to O2G Capital of Ontario, Canadapurchased the 53-acre mixed use development from Lake Mary Based DIX Developments, LLC who was represented in the sale by Stirling ’s John Kurtz. 

The mixed-use development located along a high-impact growth corridor between Daytona Beach and Halifax Plantation, was aggressively marketed by Kurtz and the Stirling team on behalf of James Dicks, CEO of the selling entity.  The sale took only 120 days from contract to closing, according to Kurtz.

“We felt that the property’s location at an underserved I-95 interchange just a few minutes to the Atlantic Ocean and intercoastal waterway, played a major role in moving the property,” Dicks said. 


James Dicks
“The is tremendous opportunity both to leverage retail demand fueled by new residential development in the area and create a unique village focused on providing second homes for the new ownership,” said Dicks.

The site which is situated at the southeast quadrant of Interstate 95 and Old Dixie Highway has an approved plat, is ready to finish the topping of the road and recording of the plat.  

It has storm water retention and utilities, and the buying group is looking to make changes to the current plan which will require County approval.    

Halifax Town Center is part of the golf course community Halifax Plantation’s planned development (PD) in Volusia County with an Ormond Beach address, which has gone through a major transition in ownership in the past few years.

 Kurtz has been working with the previous owner/developer of the entire community Halifax Plantation, Inc. since 2016 in the disposition of the remaining properties.

Kurtz brokered the sale of the remaining 230+/- acres of residential property to Vanacore Homes in a two-part sale spanning 2017 and 2018, and the sale of the 53 acre Town Center site to DIX Developments LLC in early 2018. 

Kurtz, in conjunction with Marcus and Millichap, orchestrated the sale of the 18-hole golf course and clubhouse in 2017. Halifax Plantation is just minutes from the Atlantic Ocean and intercoastal waterway in Ormond Beach ”.

The total construction value of the 53 Acre Town Center is estimated at more than $75 million.  

CONTACTS:

John Kurtz, Broker / Land Specialist, Stirling International Real Estate, JKurtz@StirlingIRE.com (407) 250-1000

Tyler Benzel, COO of DIX Properties (352) 267-8496,tyler@dixdevelopments.com

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


HFF announces $8.8 million refinancing of 4 Industrial Way West in Monmouth County, New Jersey


Michael Klein
FLORHAM PARK, NJ – Holliday Fenoglio Fowler, L.P. (HFF) announces the $8.8 million refinancing of 4 Industrial Way West, a 79,258-square-foot office building in Eatontown, New Jersey.

 The HFF team worked on behalf of the borrower, The Donato Group, to secure the seven-year, fixed-rate loan through First Bank. 

4 Industrial Way West is located within the Eatontown Business Park in Monmouth County, approximately three miles from the Garden State Parkway, two miles from Route 18 and 10 miles from Route 195. 

 The area is also accessible from Route 35, located one mile east of the property and is two miles south of its intersection with Route 36. 

 Route 35 and Route 36 are the main commercially developed arteries in the area and are improved with numerous national retailers and eateries. 

These two highways provide access to New Jersey’s extensive highway network linking the property to all of New Jersey and the East Coast cities of Philadelphia and New York. 

Terrance R. Howard
The three-story property is 98 percent leased to nine tenants in a variety of industries ranging from technology to medical practice. 

Prominent tenants include Wayside Technology Group, Inc.; Clinilabs Inc.; Polaris Alpha and The Memory Enhancement Center of America. 

The borrower, who originally developed the property in 1988 and has owned and operated it ever since, owns approximately 1.1 million square feet in the market, which includes a mix of office, light industrial and medical buildings.

The HFF debt placement team representing the borrower included managing director Michael Klein.

  First Bank was represented by Terrance R. Howard, senior vice president – market executive in First Bank’s commercial lending group.

“HFF is pleased to have placed another loan on behalf of The Donato Group within the Eatontown Business Park,” Klein said.  

4 Industrial Way Office Complex, Eatontown, NJ

“Given the quality and high occupancy of the building and the borrower’s long-term experience in the market there was significant interest in the deal from local and regional banks. 

"First Bank was a great fit for The Donato Group and performed flawlessly on its execution of the closing.”

The Donato Group is a 70+ year old real estate development, management and construction firm based in Eatontown, New Jersey.  

The company was founded by the late John Donato Jr. and is managed today by his son, Corbett Donato.



CONTACTS:

MICHAEL KLEIN
HFF Managing Director
(973) 549-2000

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