Tuesday, December 18, 2018

HFF announces $70.5 million financing for two-property life science portfolio in San Diego, CA

The Peak at Wateridge, part of the San Diego Life Science Portfolio,Sorrento Mesa, CA
Tim Wright
SAN DIEGO, CA, Dec. 18, 2018  HFF announces $70.5 million in financing for a two-property life science portfolio totaling 230,005 square feet in the San Diego-area community of Sorrento Mesa, California.

The HFF team worked on behalf of the borrower, Bioscience Properties, Inc. and Singerman Real Estate, LLC, to secure the five-year, floating-rate bank loan.  Loan proceeds are being used to convert the buildings into Class A laboratory assets.

The portfolio comprises The Peak at Wateridge, a 180,000-square-foot, two-story office/R&D building and 6325 Lusk, a 50,005-square-foot, single-story life science building. 

Overall, the portfolio is 65 percent leased to two tenants: Abzena PLC and TriLink Biotechnologies.  The Peak at Wateridge sits on 11.09 acres at 10770 Wateridge Drive while 6325 Lusk is positioned on a 5.54 acre-site. 

Zack Holderman
 Both properties have easy access to major freeways, including the I-5, I-805, I-15 and I-8, among others.

 San Diego is considered one of the top three life science markets in the country and the immediate area surrounding the properties is home to numerous life science companies, including Nuvasive, Thermo Fisher, BD & Co and Inovio Pharmaceuticals. 

The HFF debt placement team representing the borrower included senior managing director Tim Wright, senior director Zack Holderman, senior associate Olga Walsh and real estate analyst Daniel Pinkus.

“The successful capitalization of the San Diego Life Science Portfolio is a testament to the expertise and professionalism of Bioscience Properties team,” Holderman added.  “The life science sector in San Diego should continue to grow, with an excellent base of local talent and commitment to research and development within the industry.”

Olga Walsh

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

BioScience Properties, Inc. (BPI) is the life-science division of Bollert Lebeau Commercial Real Estate. The group is run exclusively by Steve Bollert, who brings over 25 years of life-science leasing and development experience to the organization. 

 Established in 1997 and headquartered in San Diego, CA, Bollert Lebeau Commercial Real Estate is a leading full service commercial real estate firm focused on acquiring, financing, developing, leasing, and actively managing office, industrial, and life science properties in the western United States.

Steve Bollert
Singerman Real Estate, LLC (SRE) is an opportunistic real estate investment firm that has deep experience executing complex transactions and unlocking embedded value through the ownership of properties, real estate loans and operating companies. 

 SRE focuses on maximizing risk-adjusted returns through investments in both debt and equity across all major asset classes including office, retail, hotel, industrial, and life science, in addition to secondary real estate asset classes including student housing and senior housing. 

Since 2010, SRE sourced and executed, with partners, over $2 billion of investments across the major property types.


CA Lic. #00947197
HFF Senior Managing Director
(858) 552-7690

CA Lic. #01434957
HFF Senior Director
(858) 552-7690

HFF Director, Public Relations
(617) 338-0990

HFF announces sale of mixed-use creative district property in West Palm Beach, FL

The 85,000-SF, Six-Building Warehouse District
West Palm Beach, FL

E. Hunter Beebe
MIAMI, FL, Dec.18, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of The Warehouse District, a popular mixed-use creative district with 85,000 square feet of restaurants, craft brewing, a rum distillery and creative commercial and fitness space in West Palm Beach, Florida.

The HFF team arranged the off-market transaction on behalf of both the seller, Johnstone Capital Partners, and the buyer, Asana Partners.

The Warehouse District comprises a portfolio of six buildings and is home to the 14,000-square-foot Grandview Public Market, which is a food hall concept with a variety of popular chef-inspired vendors, including Celis Produce, Clare’s Chicken, Cholo BBQ, Zipitios, Crema, Pumphouse Coffee Roasters, Poke Lab Eatery and more;

Eric Williams
 the Steam Horse Brewery, which is West Palm Beach’s first craft brewery and taproom; Elizabeth Ave Station, a curated retail market, event space and communal workspace; Palm Beach Squash Club,

Palm Beach County’s first premier boutique squash club; Grain and Barrel Sprits, a craft spirit company; District Workspaces, boutique co-working space with private office suites; Steel Tie Spirits;

a state-of-the-art, multi-spirit, retail craft distillery; Gypsy Life Surf Shop, a curated lifestyle fashion boutique; VXIT, an IT consulting and services company; and Burn Up Company, a local vintage motorcycle shop. 

The buildings were constructed between 1925 and 1968, and the redevelopment is maintaining the original historic character by integrating the original loading docks, columns and domed wood trusts ceilings into the current aesthetic. 

Manny de Zarraga
Public art and gathering places are a hallmark of the project, including The Railway, a 700-foot-long former rail line that bisects the property and once carried freight to and from the warehouses 40 years ago that has been preserved, reimagined and transformed into a landscaped pedestrian path connecting the community.

Situated just southwest of downtown West Palm Beach and east of Interstate 95, The Warehouse District benefits from a prime, highly accessible location with convenient highway access and strong surrounding demand drivers.

The HFF investment advisory team that arranged this transaction included director Eric Williams, executive managing director Manny de Zárraga, senior managing director and co-head of HFF’s retail practice Daniel Finkle and managing director Luis Castillo.

Daniel Finkle
“The visionary developer of the Warehouse District, Johnstone Capital Partners, which is owned by E. Hunter Beebe, did a tremendous job,” Williams said. 

 “Under the project leadership of Vice President William Earl, they have transformed a collection of previously underutilized industrial buildings into a cool, modern community that is the first of its kind in West Palm Beach. 

"West Palm Beach is one of the fastest-growing cities in South Florida, and the emergence of The Warehouse District is a testament to the continued evolution of West Palm Beach into a thriving 18-hour city.”

Johnstone Capital Partners is a privately-owned, fully integrated real estate investment management company based in Palm Beach, Florida. 

Luis Castillo
Johnstone Capital Partners seeks to deploy capital into specific defined strategies within the real estate sector that may be built around a particular geographic concentration, asset class or asset strategy. 

 Johnstone Capital Partners’ professionals have been involved with over $12 billion or real estate transaction investment transactions throughout the United States. 

 For more information, please visit hfflp.comor follow HFF on Twitter @HFF.


FL Lic. #SL3179736
HFF Director
(305) 448-1333

FL Lic. #BK382434
HFF Executive Managing Director
(305) 448-1333


FL Lic. #SL3043501
HFF Senior Managing Director
(305) 448-1333

FL Lic. #SL3203377
HFF Managing Director
(305) 448-1333

HFF Digital Content/Public Relations Specialist
(713) 852-3420


Hospitality Ventures Management Group (HVMG) adds Hard Rock Hotel Daytona Beach to Growing Portfolio of Managed Properties

Hard Rock Hotel Daytona Beach, FL
918 North Atlantic Avenue

Robert S. Cole
 ATLANTA, Ga. (Dec. 18, 2018) — Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, announced the company has taken over management of the 200-room Hard Rock Hotel Daytona Beach (918 N. Atlantic Avenue).

The hotel, which opened in early 2018, is owned by Summit Hospitality Management Group. 

            “The Hard Rock Hotel in Daytona Beach makes an ideal addition to our growing portfolio of upscale hotels and resorts with world-class, iconic brands,” said Robert Cole, HVMG president & CEO. 

 “This marks our first Hard Rock Hotel-branded property, our third Florida hotel addition just this year and our fourth property under HVMG.  We look forward to working side-by-side with Summit Hospitality Management Group to maximize revenue and profitability through HVMG’s award-winning operations platform.”

Dale Hipsh
Boasting panoramic views of the Atlantic Ocean, the beachfront property features renowned, brand-exclusive offerings and amenities, including The Sound of Your Stay® music program, which offers complimentary use of Fender guitars and Crosley record players for in-room jam sessions, as well as a renowned full-service Rock Spa® and Salon, a Rock Shop® and a Body Rock® fitness center.

“We are pleased Hard Rock Hotel Daytona Beach will be managed by an established company with a stellar portfolio and strong reputation in the industry like HVMG,” said Dale Hipsh, senior vice president of hotel operations at Hard Rock International.

“We know they will continue the great legacy of Four Diamond service, quality and performance for which the property is known.”

Hard Rock Hotel Daytona Beach also includes the signature Sessions restaurant and bar, the open-air Wave Terrace and 20,000 square feet of indoor and outdoor meeting space, including a versatile ballroom terrace. The property’s resort-style beachfront pool features an expansive oceanfront party deck, including an outdoor pool bar and grill.

Abbas Abdulhussein
“Bringing in HVMG to manage Hard Rock Hotel is in line with our company strategy and enables our team to give our full attention to growing our portfolio and to asset management,” said Abbas Abdulhussein, CEO of Summit Hospitality Management Group. 

“Their proven track record operating resort properties, understanding of our clientele and familiarization of the Daytona Beach market allows them to hit the ground running.”


Chris Daly
Daly Gray, Inc.

Pollack Shores Announces Active Adult Apartments in the Viera Community of Melbourne, FL

Rendering of planned Olea Viera Apartments, Viera, FL

ATLANTA, GA – Multifamily developer and investment firm Pollack Shores Real Estate Group announced plans to develop 166 active adult apartments in the Viera community of Melbourne, Florida.

Set to break ground in January, Olea at Viera is part of Pollack Shores’ national efforts to develop more age-targeted housing amid a spike in demand for this product type. Olea at Viera will open in April 2020.

Steven Shores
Pollack Shores’ Olea brand is centered around community – it is the idea that today’s baby boomers, who are more active than preceding generations, seek a turnkey, vibrant living experience via specialized events and programming unique to their neighborhood.

“Olea at Viera plays a significant role in our next chapter as a company,” said Steven Shores, CEO of Pollack Shores.

“Age-targeted communities have always been a part of our story, and the establishment of the Olea brand only escalates our commitment to delivering quality apartment homes to this audience. We look forward to sharing more news on our Olea portfolio in the months ahead.”


Liz Maddux · Assistant Account Executive
1718 Peachtree St., Suite 1048 · Atlanta, GA 30309
M: 478-972-3210

Berger Commercial Realty Hires Sales Associate James Karrat

James Karrat

FORT LAUDERDALE, FL – Berger Commercial Realty/CORFAC International announces the hiring of Plantation resident James Karrat as the firm’s newest sales associate. He will be focused on landlord representation for office, retail and industrial properties throughout the tri-county region.

“We recognized James as someone with the drive and experience necessary to excel in commercial real estate,” said Berger Commercial Realty President Lloyd Berger. “I have never before seen anyone hit the ground running like James. We look forward to sharing his many successes.”

Lloyd C. Berger
Karrat joins the firm following 11 years of practicing law as an attorney, originally with the Broward County State Attorney’s Office and most recently as a civil litigator and partner at a real estate law firm.

A Broward County native, Karrat graduated with honors from Florida Atlantic University with a Bachelor of Arts degree. He received his Juris Doctor degree from St. Thomas University School of Law, where he was awarded the Ken Feldman Pro Bono Service Award.

“I believe my local upbringing and background in law and real estate will result in a smooth transition into the commercial real estate industry,” Karrat said


Pierson Grant Public Relations
Lexi Robinson, ext. 255, lrobinson@piersongrant.com
Marielle Sologuren, ext. 226, msologuren@piersongrant.com

Ware Malcomb Moves to Larger San Diego, CA Office Space

Tiffany English

SAN DIEGO, CA (Dec. 18, 2018) – Ware Malcomb, an award-winning international design firm, today announced they have moved into a new, larger office space located at 3911 Sorrento Valley Blvd, Suite 120 in San Diego.

The move was driven by the growth of the firm’s local employee and client base. Ware Malcomb has 22 offices across North America, including a second local office at 600 B Street, Suite 2070 in downtown San Diego.

“Our new San Diego office accommodates Ware Malcomb’s tremendous growth in the vibrant San Diego market, while also positioning the firm for the future,” said Tiffany English, Principal of Ware Malcomb’s San Diego offices.

 “When combined with the resources of our second San Diego office downtown, our clients in the region will continue to be well-served in 2019 and beyond.” 

Ware Malcomb’s new San Diego office incorporates the latest in interior design trends, as well as the firm’s own design standards.

3911 Sorrento Valley Blvd, Suite 120, San Diego, CA
“In designing our own offices, we utilize the same principles as in all of our client projects, including an emphasis on long term real estate value, high quality materials, and incorporating sustainable features wherever possible,” continued English. 

For more information,  please visit waremalcomb.com/news and view Ware Malcomb’s Design Highlights video at youtube.com/waremalcomb.


Rachel Reenders
VP Public Relations
 KCOMM for Ware Malcomb

Kelly Teenor, Director, Marketing, 949.660.9128, kteenor@waremalcomb.com

Maureen Bissonnette, Associate Principal, Marketing, 949.660.9128, mbissonnette@waremalcomb.com

Ware Malcomb San Diego
3911 Sorrento Valley Blvd, Suite 120
San Diego, CA 92121
p. 858.638.7277

HFF announces $25 million sale, financing and joint venture equity for 3001 PGA Boulevard in Palm Beach Gardens, FL

3001 PGA Boulevard Boutique Office Building
 Palm Beach Gardens, FL

Hermen Rodriguez
MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $25.1 million sale and the financing and joint venture equity raise for 3001 PGA Boulevard, a 67,500-square-foot, Class A boutique office building in Palm Beach Gardens, Florida.

The HFF team represented the seller, GLL Real Estate Partners, and procured the buyer, Owens Realty Capital.  

Additionally, HFF worked on behalf of Owens Realty Capital to identify a joint venture equity partner in Galium Capital, for the acquisition of the property.  Working on behalf of the partnership, HFF also arranged a seven-year, fixed-rate acquisition loan through Regions Bank.

Tracey Goo

Completed in 2006, 3001 PGA Boulevard features institutional-quality construction and finishes, classical Mediterranean revival-style architecture, wrought iron balcony accents and a grande porte cochère at the building’s entrance.  

Ike Ojala
The property is 95 percent leased to tenants, including Nason, Yeager; Seacoast National Bank; McNicholas & Associates and TEKsystems, among others.

The three-story asset fronts PGA Boulevard, which has a daily traffic count of more than 41,000 vehicles and is an outparcel of The Gardens Mall, which features upscale retailers such as Saks Fifth Avenue, Nordstrom and Bloomingdales. 

 3001 PGA Boulevard is situated within an amenity-rich location close to Downtown at the Gardens, PGA Place, Legacy Place and the affluent waterfront and golf communities of Lost Tree Village, Seminole Golf Club and Ballen Isles. 

The HFF investment advisory team representing the seller included senior managing director Hermen Rodriguez, senior director Ike Ojala and director Tracey Goo.

Rebecca Van Reken

The HFF debt and equity placement team representing the buyer included senior managing director Michael Weinberg and managing director Rebecca Van Reken.

Michael Weinberg

FL Lic. #SL3018820
HFF Senior Managing Director
(305) 448-1333

HFF Senior Director
(305) 448-1333

HFF Senior Managing Director
(407) 745-3900

HFF Director, Public Relations
(617) 338-0990

Title Insurance Agency Proper Title Announces Three New Hires and One Promotion

Angela Castillo
CHICAGO, IL  (Dec. 18, 2018) – Proper Title, LLC, the Palatine, Ill.-based title insurance agency serving the residential and commercial real estate industries, today announced three new hires and one new promotion to support the firm’s continued growth.

 Industry veterans joining the firm include Angela Castillo as senior title examiner, Carol King as escrow officer and Dawn Wheatland as sales coordinator. The firm also announced the promotion of Beth LaSalle to education and compliance manager.

Dawn Wheatland
“These three new hires and well-deserved promotion support our goal of providing excellent levels of client service as our team continues its robust growth,” said David Garside, executive vice president of title and escrow operations at Proper Title.

 “Since our launch in 2013, our ability to draw top talent from within the title industry is just one of the many reasons why we have become the second-largest title agency in Illinois.”

Castillo joins Proper Title’s downtown Chicago office after a 20-year tenure at Chicago Title Insurance where she served as a commercial examiner, specializing in complex commercial transactions and endorsements. 

Beth LaSalle

King will bring to the Palatine office her extensive experience with NextAce Title EDGE, a title automation technology that improves search speed and efficiency. 

Based in the firm’s Oak Brook office, Wheatland will be working hand-in-hand with the sales team, offering another resource for clients. She has spent nearly two decades working in sales and fundraising.

In addition to her existing role as senior commercial escrow officer, Beth LaSalle will now lead the Proper Title team as education and compliance manager. 

David Garside

A member of the education and escrow committee at the Illinois Land Title Association, she will draw from her three decades of experience in title to create and execute a formalized plan to provide professional development opportunities to the firm’s managers and employees.

“The contributions Beth, Angela, Carol and Dawn will bring to our escrow, underwriting and sales teams will enhance our ability to deliver on our goal of providing exceptional client service in every transaction we handle,” said Garside.

Launched with just 27 employees in 2013, Proper Title has doubled its size and increased its transaction volume every year to become a major player in the title insurance business.

 For the third year in a row, in 2017, Proper Title earned the Award for Excellence from Fidelity National Title Group, Inc., a member of the Fidelity National Financial (NYSE: FNF) family of companies and the nation’s largest group of title companies and title insurance underwriters. 

The award is given for meeting and exceeding specific title underwriting and settlement services criteria.

 For more information, please visit propertitle.com.


 Paula Widholm, pwidholm@taylorjohnson.com, (773) 726-7993
Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527