Thursday, October 25, 2018

HFF announces sale of 758-unit apartment property in downtown Wheaton, IL

Wheaton Center Apartments, Wheaton, IL
CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Wheaton Center, a 758-unit, multi-building apartment property in the west Chicago suburb of Wheaton, Illinois.

Marty O'Connell
The HFF team represented the seller, a joint venture between Draper and Kramer, Incorporated and Edge Principal Advisors LLC, in the sale of the property to the buyer, FPA Multifamily, LLC.  The property was purchased free and clear of existing financing.

Wheaton Center consists of six elevator-served residential buildings, including two 20-story towers and four low- and mid-rise buildings, with units averaging 927 square feet and three levels of finish packages. 

Community amenities include a resort-style pool with luxury cabanas, grilling area, state-of-the-art fitness center, community room, conference room, catering kitchen, pet spa, bark park, playground, tennis courts and access to the Illinois Prairie Path. 

Sean Fogarty
 Most recently renovated in 2017, the property is located at 1 Wheaton Center across from the Wheaton Metra station, which offers access via express train into the Chicago CBD.

  In addition, the property is a short commute from six Fortune 1000 companies and other top employers along the Interstate 88 Research Corridor. 

Wheaton Center’s centralized downtown location provides immediate access to multiple boutique retail, dining and entertainment venues along the city’s treelined streets.

The HFF investment advisory team included managing directors Marty O’Connell and Sean Fogarty, senior director Wick Kirby and director Kevin Girard.
Wick Kirby
Draper and Kramer, Incorporated is a vertically integrated property and financial services company that has a long history of the successful creation, enhancement and management of first-class real estate.  

Headquartered in Chicago, Illinois, the company is led by President and Chief Executive Officer, Forrest D. Bailey, great-grandson of founder Adolph Kramer.  

The primary services offered include: management of multi-family residential (rental and condominium) and commercial properties (office, industrial and retail), arranging debt and equity financing for commercial property, residential mortgage banking, and acquisitions and development.

Forrest D. Bailey
FPA Multifamily, LLC is a private equity real estate firm focused on the acquisition, renovation and management of both core plus and workforce housing apartment communities. 

Founded in 1985, FPA has owned over 104,000 apartment units valued at over $11 billion.  FPA is currently investing through its value-add focused FPA Apartment Opportunity Fund VI, which will acquire approximately $1.8 billion of assets, and its core plus focused FPA Core Plus Fund IV, which will acquire approximately $1.4 billion of assets.

 Headquartered in San Francisco, FPA also has offices in Irvine, Portland, Denver, Minneapolis, Dallas and Atlanta.  For more information, please visit


IL Lic. #475.099044
HFF Managing Director
(312) 528-3650

HFF Director, Public Relations
(617) 338-0990

HFF announces sale and acquisition financing of The Highland Dallas Curio hotel

The Highland Dallas Curio Hotel, 5300 East Mockingbird Lane,
Dallas, TX

DALLAS, TX –– HFF announces the sale of and acquisition financing for The Highland Dallas Curio, a 198-room, AAA Four-Diamond, luxury hotel located in Dallas, Texas.

John Bourret
The HFF team marketed the property on behalf of the seller.  Lennox Capital Partners purchased the hotel and brought in HEI Hotels & Resorts for management of the property going forward. 

Additionally, working on behalf of the new owner, the HFF team placed the five-year, floating-rate loan with a European bank. 

The Highland Dallas Curio has undergone $6.2 million in capital improvements since 2014, propelling it to one of the top-performing hotels in the Dallas market. 

Part of Hilton’s Curio Collection, the hotel features Chef John Tesar’s highly acclaimed full-service restaurant, Knife; the full-service Exhale Spa; full-service salon; 24-hour, state-of-the-art fitness center; outdoor infinity pool with whirlpool and cabanas; and more than 14,000 square feet of meeting space.

Austin Brooks
A  Situated on 2.749 acres at 5300 East Mockingbird Lane, The Highland Dallas Curio is at a high-profile location at the intersection of Mockingbird Lane and Central Expressway (US-75) surrounded by some of Dallas’ most prestigious neighborhoods. 

The hotel is within walking distance of Southern Methodist University (SMU) and the Mockingbird Station mixed-use, transit-oriented development.

Additionally, the hotel is proximate to the Knox Henderson, Lower Greenville and Uptown entertainment districts.

The HFF investment advisory team representing the seller included managing director John Bourret and director Austin Brooks.

Pete Fehlman
The HFF debt placement team representing the new owner consisted of senior director Pete Fehlman.

Holliday GP Corp. ("HFF") is a Texas licensed real estate broker.

Lennox Capital Partners is a private lodging investment and management firm seeking value-add opportunities. 

 The firm was established in 2016 by Jeff Barone and Pat Lowery, long time principals of the successful Maritz Wolff Hotel Equity Funds. 

Successful lodging investment takes opportunistic vision, strict acquisition criteria, active asset management, entrepreneurial spirit, perseverance and detailed execution qualities the principals of LCP have demonstrated for a combined 50+ years. 

Jeff Barone

For more information, visit

Patrick J. Lowery

TX Lic. #0576369
HFF Managing Director
(214) 265-0880

HFF Director
(214) 265-0880

HFF Senior Director
(214) 265-0880

HFF Director, Public Relations
(617) 338-0990

HFF announces $85 million in financing for premier mixed-use development in Memphis, TN

Crosstown Concourse, Memphis, TN

DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announces $85 million in permanent financing for Crosstown Concourse, a 1.2-million-square-foot premier mixed-use development in Memphis, Tennessee.

Crosstown Concourse interior, Memphis, TN

The HFF team worked on behalf of the borrower, a joint venture between Crosstown, LLC, Crosstown Arts, and Kemmons Wilson Companies, LLC, to secure the 20-year, fixed-rate permanent loan through JP Morgan Asset Management on behalf of one or more of its investment advisory clients.

Crosstown Concourse before and after redevelopment

Crosstown Concourse is a historic adaptive reuse of the former Sears, Roebuck & Company catalog order plant and retail store that originally opened in 1927. 

 The 12-acre property has been preserved and redeveloped into a “vertical urban village” comprising 645,704 square feet of commercial space, 65,000 square feet of retail space and 265 residential units averaging 1,044 square feet each. 

Brian Carlton
Distinctive features include repurposed 1920’s architectural pieces, multi-story atriums and windows drawing natural light, two acres of public plazas, a performing arts theatre and a 25,000-square-foot fitness facility. 

 Crosstown Concourse has a diverse group of tenants, including Methodist Le Bonheur Healthcare, ALSAC – St. Jude, Church Health, Crosstown Arts, Cristian Brothers University, Memphis Teacher Residency, Crosstown High School, Teach for America and many others.  

The 95-percent-leased property has an average of 3,000 visitors per day and connects the residents, tenants and visiting public through ongoing events and programming in shared spaces and common areas akin to a neighborhood. 

 Additionally, Crosstown Concourse serves as the anchor and a catalyst of the revitalization and economic development of the surrounding Crosstown neighborhood, which is in the heart of Midtown Memphis just two blocks from the intersection of Interstates 40 and 240 and just two miles from downtown. 

Jason Nettles
Crosstown Concourse is the largest historic adaptive reuse LEED Platinum redevelopment in the world.

The HFF debt placement team representing the borrower included senior managing directors Brian Carlton and Jason Nettles.


HFF Senior Managing Director
(214) 265-0880

HFF Director, Public Relations
(617) 338-0990

EDEN Multifamily Completes Construction of 349-Unit North Miami Beach, FL Apartment Development

Lazul Apartments, 2145 Northeast 164th Street,
North Miami Beach, FL

NORTH MIAMI BEACH, FL ––  Leading developer EDEN Multifamily has completed construction of Lazul, an 8-story, 349-unit apartment building at 2145 Northeast 164th Street in the heart of North Miami Beach.

EDEN has obtained a temporary certificate of occupancy (TCO) from the City of North Miami Beach and is facilitating resident move-ins and property tours.

Jay Jacobson
Lazul is the most recent completed development for EDEN, the Miami-based joint venture formed by real estate industry veterans Jay Massirman and Jay Jacobson.

EDEN and its partners have a substantial pipeline of planned multifamily projects, with over 2,300 units in Tamarac, Coral Springs, Orlando, Port Orange and a 374-unit, 32-story tower steps away from Las Olas Boulevard in Fort Lauderdale.

Pinnacle Living is handling leasing and management at Lazul. A furnished model residence has been unveiled, and the opening of the clubhouse and permanent leasing office is expected in the coming days.

In the meantime, a temporary on-site leasing office is open at 2231 NE 164th Street - across West Dixie Highway from the property. It has examples of unit flooring and kitchen features on display to give prospective residents a first-hand look at the high-end finishes.

Jay Massirman
 Lazul represents a significant milestone for the City of North Miami Beach, which is experiencing a renaissance following the 2015 completion of the City’s Mixed Use Town Center zoning district.

“The completion of Lazul is a special moment for everyone at EDEN,” said EDEN President and CEO Jay Jacobson. “It is thrilling to play a key role in the evolution of the Mixed Use Town Center district. Our leasing momentum has been strong, which highlights the pent-up demand for high-end rental inventory in the city.”

Lazul includes studio, one-, two- and three-bedroom apartments, two-story townhomes, an eight-story parking garage and ground-floor commercial space.

Building amenities include an inner courtyard with a heated pool, an elevated sundeck seating area with a firepit, community rooms, automated package delivery system, a state-of-the-art fitness center with a yoga/spin room and a dog walk and grooming area.

Lazul club house
Common area Wi-Fi and large community gathering spaces will be a dynamic feature of the community.

EDEN has also enhanced the public greenspace along the Snake Creek Canal with extensive landscaping, public seating, a walking path/bikeway and a significant public art installation which will become the focal point of this part of North Miami Beach.

MSA Architects is the project’s architect, with Bruce Howard and Associates providing landscape architecture and ID & Design International as the interior designer. Coastal Construction is the project’s general contractor.


Eric Kalis

Hannah Colson
Account Executive, BoardroomPR
O 954-370-8999 
C 954-258-2118

Bank of America Plaza | 1776 N Pine Island Road
Suite 320 | Fort Lauderdale, FL 33322

NAI Realvest Closes on $450,000 Investment Sale in Polk County; Buyer Plans to Develop a New Dollar General

Chris Adams
Winter Haven, FL --  NAI Realvest recently negotiated a $450,000 sale price for a 1.58-acre parcel of vacant land at 418 – 18thSt. S.E. in Winter Haven , where the buyer is planning to develop a Dollar General store.     

NAI Realvest Associate Chris Adams negotiated the sale on behalf of Seller John P. Adams & Ann D. Adams Family LP of Winter Haven.

 The Buyer Palmetto Winter-Haven-Dundee Rd LLC of Thomasville , Ga. was represented in the transaction by Oak Realty Advisors.   Seller will be exercising a 1031 tax free exchange.


Chris Adams, Associate NAI Realvest  

Robin L. Webb, CCIM, CHA, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest, 407-875-9989

Beth Payan or Larry Vershel, Larry Vershel Communications,

Rhodes+Brito Architects Are Underway with Design of New Horizon West FL Elementary School

Ruffin Rhodes

ORLANDO, FL --- Rhodes+Brito Architects recently presented Orange County government with preliminary designs for a new elementary school in the burgeoning Horizon West community in West Orlando.

Ruffin Rhodes, co-founder and partner with Maximiano Brito at Rhodes+Brito, said his firm was awarded the contract to design the new school that will be located on 14.8 acres of land on the South side of Porter Road, north of Wood Sage Drive and west of Bluejack Oak Drive.

 Rhodes said the school, a two-story structure totaling 85,838 square feet, will be constructed by Miami-based OHL Construction. 

The campus will include parking for over 120 vehicles, a bike rack, tot and youth lots, ball field and enough space for 12 portables. 

Maximiano Brito
The new school should start construction in the spring of next year with anticipated completion and opening by June of 2020.

Rhodes+Brito, which opened in Orlando in 1996, has exceptional experience providing architectural services to a wide variety of agencies throughout the state of Florida, including municipal government agencies, federal, education, aviation and senior living facilities.


Ruffin Rhodes, Rhodes+Brito Architects,

Maximiano Brito, Rhodes+Brito Architects,

Larry Vershel or Beth Payan, Larry Vershel Communications Inc.

NAI Realvest Completes $451,000 Sale of Davenport, FL Residential Land

Paul Partyka
ORLANDOFL  – NAI Realvest recently closed on the sale of 9.19 acres of development land with 36 lots on Holly Hill Grove Road 2 in Davenport .   

 Paul P. Partyka, CCIM, MICP, partner at NAI Realvest brokered the sale on behalf of the local seller Dana Baccaccio and the buyer, Delray Beach-based Haines Land, LLC who paid $451,000.00 for the residential housing development located near Highway 27 and Interstate 4.   

 Haines Land will be developing the property for a local builder.  Vertical construction is anticipated to begin in the spring of 2019.


Paul P. Partyka, CCIM, MICP, Partner 

Robin L. Webb, CCIM, CHA, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest, 407-875-9989

Beth Payan or Larry Vershel, Larry Vershel Communications