Thursday, February 28, 2019

Arbor Funds $4.7 Million Fannie Mae Portfolio in Dublin, GA

Sam Schwass

UNIONDALE, NY (Feb. 28, 2019) – Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae portfolio in Dublin, GA.

Claxton Point North Apartments
Dublin, GA
 Claxton Pointe North Apartments, a 148-unit multifamily property, received $3.6M in funding through the Fannie Mae DUS® loan program.

Pecan Ridge Apartments, a 51-unit multifamily property, received $1.1M in funding through the Fannie Mae Small Loan program.

Sam Schwass of Arbor’s New York City office originated the loans.

“With this portfolio we were able to combine a Fannie Mae Standard DUS loan with a Fannie Mae Small Loan for our client, for two properties well situated in the Dublin area,” Schwass said.

 “The portfolio is a perfect example of Arbor’s ability to design customized financial solutions utilizing diverse products and terms for our sponsors, while still offering the same great service.”

Pecan Ridge Apartments
 Dublin, GA
Built in 1992, Claxton Pointe North Apartments are conveniently located near downtown Dublin. The smoke-free community offers on-site parking, laundry facilities and high-speed internet access.

Pecan Ridge Apartments, nestled in a quiet community just north of downtown Dublin, were built in 1980 and feature fully equipped kitchens, on-site parking and high-speed internet access.


Bina Handa
Tel: 516.506.4229

Fogelman Partnership Completes Acquisition of 660-Unit Multifamily Community in Houston, TX

                                                   Photos by Bridge Investment Group
Artesian on Westheimer Apartments, Houston, TX
 HOUSTON, TX, FEB. 28, 2019: Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, is pleased to announce the acquisition of Artesian on Westheimer, a 660-unit multifamily community located in Houston.

Built in two phases between 2006 and 2009, the community is 92% occupied and offers one, two, and three-bedroom apartment homes ranging from $1,066 to $1,719 per month.

The newly-acquired property is expected to receive upgrades to unit interiors in connection with the investment and community enhancements across the common area amenities including the creation of a market-leading fitness facility. 

Pool Area, Artesian on Westheimer, Houston, TX
Fogelman acquired Artesian on Westheimer through a joint venture with New York-based DRA Advisors. Since 2003, the Fogelman-DRA partnership has acquired 27 multifamily communities totaling more than 8,800 apartment homes, with an aggregate value of more than $870 million.

“Artesian on Westheimer presents a great opportunity to expand our partnership’s presence in West Houston, particularly within a neighborhood that serves both the Energy Corridor and Westchase employment markets,” says Mike Aiken, Vice President of Acquisitions for Fogelman Properties.

Mike Aiken
 “The homes are well suited for young families and professionals with distinctive ‘big house’ unit designs including large floor plans and attached garages. The unique layouts often serve as a key differentiator compared to nearby properties.”

 For more information about Fogelman, please visit  or follow on FacebookTwitter and Instagram.

 For more information about DRA, please visit


Brittanie C. Price
BCENE Public Relations

[p] 703 967 4771

PulteGroup’s West Florida Division Welcomes Kimberly Driscoll as Director of Procurement

Kimberly Driscoll
TAMPA, FL — PulteGroup’s West Florida Division Names Kimberly Driscoll Director of Procurement.

In this new role, Driscoll will manage contract agreements and relationships with subcontractors and suppliers, analyze house costs and vendor capacity.

 Additionally, she is responsible for ensuring new communities are bid out and ready for grand opening, verifying estimates and developing and implementing methodologies across a variety of categories including estimating and trade.

“2019 is starting strong, with the celebration of communities opening, but we must continue to work to bring new, innovative features and amenities to life for our residents,” said Sean Strickler, Pulte’s West Florida Division President.

“We need someone with Kimberly’s experience on our team to make sure we stay on track and deliver the best Pulte and Tampa have to offer as buyers look to reach new life milestones.”

Sean Strickler
Driscoll brings over a decade of purchasing experience with various residential real estate corporations in Florida, where she was responsible for negotiating budgets and contracts, managing purchasing and design studios, analyzing margins, and cost estimation.

Driscoll earned her Bachelor of Business Administration in Law from Texas A&M University, her Master of Science in Leadership and Teams from the University of South Florida and her Juris Doctor from Stetson University College of Law. In her spare time, she trains to run half marathons, practices classical ballet and is a Sunday school teacher.

For more information about PulteGroup, Inc. and PulteGroup brands, please visit

Jasmin Curtiss
 Account Executive, BoardroomPR

O 954-370-8999
Bank of America Plaza | 1776 N Pine Island Road
Suite 320 | Fort Lauderdale, FL 33322

Levin Johnston Directs Two Property Sales Totaling $23.45 Million in California East Bay Area

Stratford Village Retail Center, 1641-1645 Industrial Parkway West, 
Hayward, CA sold for $12.95 million

EAST BAY AREA, 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 two property sales totaling $23.45 million in the East Bay Area of San Francisco, California.

The properties include a 40,852 square-foot retail center in Hayward, California, and a 34-unit apartment community in San Leandro, California.

“We anticipate continued robust activity in the East Bay’s multifamily and retail markets due in part to increasing job growth in Alameda and Contra Costa counties,” explains Adam Levin, Senior Managing Director of Levin Johnston.

The 34-unit Maubert Apartments, 15977 Maubert Avenue
  San Leandro, CA

 “Consumer confidence is strong and economic fundamentals are healthy there, which bodes well for the retail sector. In addition, apartment demand continues to outpace supply in this submarket, making East Bay multifamily a particularly attractive asset class.”

The transactions include:

$12.95 Million Acquisition of Stratford Village Retail Center
Levin Johnston of Marcus & Millichap arranged the acquisition of a retail center in Hayward, California for $12.95 million. Levin, Robert Johnston and Eymon Binesh represented the private buyer in the transaction.

Adam Levin
“East Bay’s retail sector finished 2008 with its lowest-ever overall recorded vacancy rate at 4.2%,” says Johnston, Senior Managing Director of Levin Johnston. “The outlook on this market is positive, with strong occupancy and rental rates in new and high-quality assets.”

Johnston adds that this property was meticulously maintained by its original developer since its construction, which augmented its appeal. “The buyer sold two multifamily properties to exchange into this property and significantly increased their cash flow,” says Johnston.

Stratford Village Retail Center is a 100% leased, high-profile, asset with a strong credit-tenant roster that includes Starbucks, Subway, Fremont Bank, Straw Hat Pizza, DaVita Inc., Select Staffing, CosmoProf, and Manheim, Inc.

 A majority of the tenants have significant tenure at the property, and lease rates are below market value, creating upside for the buyer.

Robert Johnston
Originally constructed in 2003 and 2004, Stratford Village Retail Center provides convenient parking and is well located, with tremendous frontage on Industrial Parkway West. The center offers strong access to Oakland, Silicon Valley, San Francisco, and Palo Alto via I-880.

The property is situated in a dynamic, underserved location at 1641-1645 Industrial Parkway West in Hayward, California.

$10.5 Million Sale/Acquisition of The Maubert Apartments
Levin Johnston also directed the sale of a 34-unit apartment community at 15977 Maubert Avenue in San Leandro, CA.

Levin and Johnston represented the buyer and the seller, both local apartment owners in the Bay Area.

“This transaction demonstrates continued strength in the East Bay multifamily investment market,” says Levin. “Driven by excellent employment fundamentals and low vacancy in San Francisco, the East Bay continues to attract renters from throughout the region.”

Levin also notes that the City of San Leandro has emerged as a hub for technology and economic growth.

Eymon Binesh
“Since July 2017, more than $113 million in construction projects have been permitted in the region, including the Marina Gateway Center, San Leandro Tech campus and Westlake Urban’s San Leandro Business Center, among others,” Levin explains. 

“This asset delivers a tremendous opportunity for growth in equity as capital investment in the region increases.”

Situated on an expansive parcel totaling 1.38 acres, the property is centrally located, giving residents easy access to employment opportunities throughout the Bay Area via Interstates 580 and 880, two San Leandro BART stations, and several area bridges. The asset is also in close proximity to high-tech companies such as Facebook, Google, and Tesla, among others.

The Maubert Apartments is a garden-style apartment community comprised of four buildings that offer a mix of two-bedroom, two-bathroom and one-bedroom, one-bathroom flats. Amenities include a gated and secured entryway, private balconies, assigned covered parking, and on-site laundry.

In 2018, Levin Johnston of Marcus and Millichap successfully directed 55 transactions totaling over $700 million in the Bay Area market.

To learn more about the firm’s $100 million in available properties, please visit:


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

Newport Homes Bringing 82 Homes to Cadence in Mesa, Arizona

Tim Brislin
PHOENIX – Arizona-based real estate investment and development company Harvard Investments is delighted to announce Newport Homes as the final neighborhood home builder of phase one for Mesa master-planned community Cadence at Gateway.

“It’s wonderful to welcome Newport Homes to the Cadence community,” said Tim Brislin, Vice President of Harvard Investments. “Newport Homes is a premier Arizona builder based here in the southeast valley.

"They have a great reputation and are highly responsive to what people want in a new home with unique floor plans and the ability to customize their homes to each community they’re a part of.”

Rendering of Mesa master-planned community
Cadence at Gateway, Arizona
The Newport Homes neighborhood, The Strand at Cadence, will include two-story homes in groupings of six. Lot sizes are 42’ by 50’ with three different floor plan options. 

These homes will be designed specifically for Cadence showcasing the Newport Homes Coastal Contemporary elevations and color schemes, including various wood siding locations, sand finish stucco, and brick accents to deliver a one-of-a-kind look at entry home pricing. 

“We’re thrilled to bring our home concepts to Cadence which will be perfect for smaller families, individuals and empty nesters,” said Darryn Lane, Newport Homes CEO.

Find out more about Cadence at Gateway and what makes it the premier residential project in Arizona by visiting ( Or follow us on Facebook, Twitter and LinkedIn.


Heather Miles Austin, Director
The Ferraro Group Phoenix
120 N. 44th St. #310
Phoenix, AZ 85034
c. 602.738.9252

Hotel Horizons® March 2019 Edition Finds U.S. Lodging Outlook Good Through 2020; Economic “Blip” Causes Slowdown in 2021 Before Returning to Positive Growth for 2022

R. Mark Woodworth
Atlanta, GA –– A favorable economic outlook will lead to continued growth in U.S. hotel revenues and profits through 2020. 

 However, an economic slowdown in 2021 will cause a short-lived softening of lodging industry fundamentals that year. 

According to the March 2019 edition of Hotel Horizons®, CBRE Hotels Americas Research is forecasting U.S. hotel rooms revenue per available room (RevPAR) to increase by 2.5 percent in 2019 and an additional 2.0 percent in 2020. 

 However, for 2021, CBRE is projecting a slight decline in RevPAR of 0.6 percent.  Fortunately for hoteliers, that immediately is followed by 1.4 percent RevPAR growth for 2022.

“In the near-term, the fundamentals of supply, demand and pricing in the U.S. lodging industry are very similar to what we have observed the past few years,” said R. Mark Woodworth, senior managing director of CBRE Hotels Americas Research. 

 “For the most part, the supply of hotel rooms entering the market will be absorbed by newly generated demand buoyed by a healthy economy.  Further, while the nominal rate of change may be disappointing, we are projecting average daily rate (ADR) growth above the pace of inflation for 2019 and 2020.”

in 2019 and 1.2 percent in 2020, followed by a decline of 0.1 percent in 2021.

“I would characterize the economic slowdown in 2021 as a blip (an unexpected, minor and typically temporary deviation from a general trend), not a dip (to sink, drop or slope downward). 

"Further, the performance of the U.S. lodging industry in 2021 should be viewed as a slowdown, not a recession,” Woodworth said.  “In fact, we see the U.S. hotel market bouncing back strong in 2022 with a 2.5 percent increase in demand.”


Chris Daly
Daly Gray Public Relations
703 435 6293

Wednesday, February 27, 2019

Arbor Funds $9.6 Million Fannie Mae MAH Portfolio in Baton Rouge, LA

Austin Walker
UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae MAH loan portfolio in Baton Rouge, LA.

Pelican Bay Apartments, Baton Rouge, LA

The three properties, totaling 248 units, received $9.6M in funding through the program. The loan provides a 10-year fixed rate term with 9.5-year yield maintenance, and a 30-year amortization schedule.

Austin Walker of Arbor’s New York City office originated the loan.

“With this deal, we were able to provide a cross-collateralized, non-recourse loan for three properties well situated in Louisiana’s capital city,” Walker said.

Howell Place Apartments, Baton Rouge, LA

 “We worked with first-time sponsors and were able to structure an innovative, customized deal providing refinancing for one property and acquisition funding for the other two purchases.”

Pelican Bay Apartments: Built in 2001 and comprised of 152 units, this property offers on-site maintenance, a playground and beautifully furnished interiors. Pelican Bay is also close to three area colleges including Louisiana State University; Southern University and A&M College; and Baton Rouge Community College.

Pirates Bend Apartments, Baton Rouge, LA

Howell Place: Built in 2002, this 48-unit property features a clubhouse, on-site maintenance and apartments with walk-in closets and washer/dryer hookups. Howell Place was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program and provides apartments for low-income households through Section 8 Housing Choice Vouchers. 

Pirates Bend: Built in 2002, this property has 48 units and offers one to four bedroom floorplans. The community offers a clubhouse, lounge, and a fitness center. Pirates Bend is located close to neighborhood parks and the Baton Rouge Metropolitan Airport.

Bina Handa
Tel: 516.506.4229

Arbor Funds $1.7 Million Freddie Mac SBL Deal in Chickasha, OK

Eric Regenbogen
UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a Freddie Mac SBL deal in Chickasha, OK.

Winding Creek Apartments, a 50-unit multifamilyproperty, received $1.7M in funding through the program with a 10-year hybrid term.

Eric Regenbogen of Arbor’s New York City office originated the loan.

Winding Creek Apartments,  Chickashaw, OK
“The client stressed the importance of closing the deal by the end of the year for tax purposes,” Regenbogen said. “Arbor was able to execute efficiently and in an expedited manner.

"The deal exemplifies Arbor’s commitment to quality and service for all of our borrowers.”

Built in 1974, Winding Creek offers newly renovated, pet-friendly apartments in a peaceful country setting. Amenities include 24-hour maintenance, on-site laundry facilities and eight acres of lush rolling hills for residents to enjoy.


Bina Handa
Tel: 516.506.4229

Arbor Funds $38.6 Million Fannie Mae DUS® Loan in Norcross, GA

Stephen York
UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® loan in Norcross, GA.

Fields at Peachtree Corners, a 490-unit multifamily luxury property, received $38.6M in funding through the program. The deal provides a 12-year fixed rate term with a 6-year interest only period, and a 30-year amortization schedule.

Stephen York, of Arbor’s New York City office, originated the loan. 

“We were pleased to provide aggressive high-leverage financing, along with an attractive rate and maximum I/O, for our client,” York said.

Fields at Peachtree Corners Apartments, Norcross, GA
 “The property was recently renovated thanks to a $3M capital improvement plan. The new sponsors are planning continued renovations for more than 100 units and exterior enhancements to boost curb appeal. This will help the property remain well situated in the highly competitive Peachtree Corners submarket.”

Built in 1973, the apartment complex offers deluxe in-house features including granite countertops; oversized walk-in closets; washer/dryer connections; central heating and air; and private patios and balconies.

The community amenities include a state-of-the-art fitness center, Olympic-sized swimming pool, tennis and volleyball courts, a soccer field, resident clubhouse, playground, and picnic area with barbecue.


Bina Handa
Tel: 516.506.4229

Arbor Funds $7.4 Million Fannie Mae DUS® Loan in Thomasville, GA

James Fiesel
UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® loan in Thomasville, GA, for a 152-unit multifamily property.

Abbey Lakes Apartment Homes received $7.4M in funding through the program with a 10-year fixed rate term.

James Fiesel of Arbor’s New York City office originated the loan.

Abbey Lakes Apartment Homes, Thomasville, GA
“Through our deep expertise and commitment to customized solutions, our team was able to provide leverage and interest only terms in a secondary market,” Fiesel said. “This successful deal execution is a testament to the borrower’s track record and Arbor’s strong partnership with Fannie Mae.”

Abbey Lake Apartment Homes, a pet-friendly community located minutes from the city, offer 1-, 2- and 3-bedroom floor plans. The amenities include two swimming pools, a fishing pond, spacious units with balconies and patios, two laundry facilities and 24-hour maintenance service.


Bina Handa
Tel: 516.506.4229

Arbor Funds $61.2 Million Bridge Loan in Birmingham, AL

Joseph Charneski
UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a bridge loan in Birmingham, AL. AT&T City Center, a 30-story Class A office building, received $61.2M in bridge funding. The loan will cover acquisition costs as well as significant capital improvements.

Joseph Charneski of Arbor’s New York City office originated the loan.

AT&T City Center, Birmingham, AL

 “This bridge loan will allow our borrower to execute a major repositioning of a prominent downtown building and take advantage of the strong Birmingham fundamentals,” said Charneski.

“The significant renovations planned for the property will include a demolition of existing components as well as remodeling of the building interior and other site improvements.”

The 390-foot tower, originally known as the South Central Bell Building, opened in 1972. It includes 617,453 square feet of space and is considered to be an iconic part of the Birmingham skyline.

The borrower plans to convert the property into a mixed-use building, consisting of rental units as well as office and retail space. Added amenities will include a rooftop turf area, interior wet bar/kitchen, media room and fitness center.


Bina Handa
Tel: 516.506.4229

Tuesday, February 26, 2019

George Oliver Sets New Standard for Wellness-Centered Phoenix Office Space

Curt Kremer
PHOENIX, February 26, 2019 – Phoenix-based commercial real estate investment and operating company George Oliver has unveiled plans for its new CASA redevelopment, a 181,188-square-foot, Class A office building in Phoenix’s booming Uptown neighborhood. 

Through a $17 million renovation, George Oliver will re-establish CASA from a 1989-built project, previously known as Catalina Terraces, into next-generation modernized office space focused on a strong sense of community, health and wellness

Alexandra Maw
“This is the first modernized office project of its kind in the metro Phoenix market to put health and wellness at the heart of its design,” said George Oliver Founder and Managing Partner Curt Kremer. 

“We’ve done our best to listen to the demand drivers of the modern-day tenant and deliver an office space complete with all of the services that today’s businesses need to excel – with equally high-quality wellness amenities that curate personal development and deliver a sense of community.”

Ryan Timpani
The CASA renovations will keep with the building’s Spanish architectural roots, including natural wood elements and smooth stucco finishes, and feature updated modern lobbies, restrooms, an exterior facelift and a fresh new landscape package.

Tenant amenities will include a tenant lounge and café operated by Kaleidoscope Juice and a training center with the ability to host approximately 60 guests. It will also incorporate two centralized courtyards with water features and seating that serve as a hub for relaxation and collaboration, and an on-site co-working facility operated by the ownership and accommodating users ranging from one to 10 desks.

Todd Noel
Locally known Kaleidoscope Juice, with locations in downtown Phoenix, downtown Scottsdale and within The Madison and Optima Sonoran Village, will open at CASA in Fall 2019, serving as a hub for “good vibes” and healthy coffee, food and juice options for CASA tenants and guests.

“With its focus on health and wellness, George Oliver’s vision for CASA is a first for Phoenix and runs exactly parallel to our own philosophy,” said Kaleidoscope Juice Founder and CEO Alexandra Maw.

Casa Redevelopment Exterior, Uptown Neighborhood, Phoenix, AZ
“A healthy worker is a more productive worker, and Phoenix is taking the lead in healthy local living, working and eating opportunities. We’re absolutely delighted to take part in this important and innovative redevelopment.”

Additional services at CASA will include a wellness center with a yoga room, brand new fitness center and showers, an on-site meditation room, salon with hair stylist and dog park.

Casa Courtyard Rendering
 The CASA plans also include a two-story dining experience with dedicated food truck parking, climate-controlled space, a shaded outdoor dining area and outdoor games and lounge space.

CASA is located just south of Northern Avenue at 7878 N. 16th Street in Phoenix, minutes from the deep amenity base of 7th Street and Piestewa Freeway/Sate Route 51.

Casa Lounge Rendering
“CASA is carving a creative and unparalleled niche in the greater Phoenix office market,” said Ryan Timpani, Executive Vice President of Colliers International in Arizona, who along with Executive Vice President Todd Noel make up the exclusive leasing brokerage team for the CASA project.

 “Its one-of-a-kind amenities set it apart from the competition as occupiers of space continue to relocate to assets that allow them to attract and retain top talent. With the residential and retail renaissance taking place in the surrounding neighborhood of Uptown Phoenix, CASA is well positioned to lure a diverse and robust tenant base.”

Casa North Patio Rendering
George Oliver purchased the CASA building, previously known as Catalina Terraces, in late 2018 for $16.5 million. Renovations begin in April and will deliver during the third quarter, complete with move-in-ready spec office suites ranging from 2,000 to 8,500 square feet and shell space to accommodate users up to 30,000 square feet.

Arcadia Management will manage the property and staff an on-site concierge. RSG Builders will handle the renovations. Western Alliance Bank is the project lender.

For more information, visit

Casa Lounge Rendering
Other successful projects completed by George Oliver include The Quad in Scottsdale, Junction 23 in the RiNo arts district of Denver and Upcycle, located in the trendy Eastside submarket in Austin.

George Oliver LLC is a Phoenix-based, privately owned commercial real estate investment and operating company specializing in transforming obsolete buildings and business parks into first-class, institutional-quality office communities.

 By looking beyond the surface of an asset, George Oliver turns potential into profitability through acquisition, redevelopment/transformation, asset management  and development. 

To learn more or to discuss new project opportunities, visit


Stacey Hershauer