Monday, March 4, 2019

Newmark Knight Frank Represents Burr & Forman LLP in 104,514-SF Birmingham, AL Office Deal

Wells Fargo Tower, 420 20th Street North
 Downtown Birmingham, AL
Birmingham, AL— Newmark Knight Frank (NKF) announced that it brokered a renewal lease totaling 104,514 square feet for the Birmingham office of law firm Burr & Forman LLP at the Wells Fargo Tower in downtown Birmingham.

Edward R. Christian
The deal marks one of the largest transactions completed in Birmingham over the last year, and represents the law firm’s long-term commitment to the downtown area.

Burr & Forman will continue to occupy the top six floors at the soon-to-be Shipt Tower, which is owned by Hertz Investment Group.

Burr & Forman’s renewed lease comes at a time where the firm is experiencing major regional growth, recently acquiring the Carolinas-based McNair law firm.

As of January 1st, 2019, the firm now has 19 offices in eight states with a total of 360 attorneys across the region.

Burr & Forman has long been and will continue to be the largest tenant in the building.  Located at 420 20th Street North, the 514,893-square-foot Class A building was built in 1986 and is one of two Class A properties in the city.

Gregory Katz
The building is currently 87 percent occupied, and is in close proximity to several dining and entertainment destinations.

“This building has provided an ideal environment for fostering healthy growth and long-term stability in the heart of Birmingham, and we are pleased to continue our partnership with Hertz Investment Group,” said Ed Christian, chief executive officer and firm managing partner at Burr & Forman.

“Newmark Knight Frank’s professionalism and efficiency made this a seamless transaction for both parties, and we look forward to the next chapter of our firm as we continue to expand across the Southeast.”

NKF Vice Chairman Gregory Katz and Executive Managing Director Monty Harris represented the tenant. Colliers International represented the landlord.

Monty Harris
“Burr & Forman’s decision to renew a long-term lease with Hertz Investment Group at Shipt Tower is the latest evidence of continued growth and investment happening in downtown Birmingham,” said Katz.

“The emerging talent hub that is forming in the CBD provides the ideal setting for employers across the region to grow and expand. Newmark Knight Frank is pleased to help finalize this lease agreement, which provides a significant win for Birmingham’s business community.”

The transaction reflects a strong outlook by investors for Birmingham’s metropolitan area. In 2017, 40 companies announced more than 3,000 jobs and $500 million in capital investment in the region’s primary business sectors. 


Nick Banaszak
1718 Peachtree St., Suite 1048 
Atlanta, GA 30309
M: 256-457-5384

HFF announces $20 million financing of Palm Beach Post in West Palm Beach, FL

Palm Beach Post Building, 2751 South Dixie Highway,
West Palm Beach, FL
MIAMI, FL, March 4, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces $20.30 million in financing for the Palm Beach Post mixed-use building totaling approximately 360,000 square feet in West Palm Beach, Florida.

Scott Wadler
The HFF team worked on behalf of the borrower, Tricera Capital, to secure the 24-month, floating-rate loan through Vaster Capital.  

Loan proceeds are being used to close on the off-market acquisition and reposition the asset.

The Palm Beach Post property, located at 2751 South Dixie Highway, is situated at the corner of U.S. Route 1 and Belvedere Road, both primary vehicular arteries in the market, and minutes from the Palm Beach International Airport.

The versatile, mixed-use asset comprises three main components, including ±230,000 square feet of office space across three buildings; a ±120,000-square-foot warehouse building; and an additional 3.66-acre lot currently being utilized as surface parking.

Matthew McCormack
HFF’s debt placement team representing the borrower included senior director Scott Wadler and associate Matthew McCormack.

“The vast wealth in the neighboring island of Palm Beach has begun to swell west of the intracoastal Waterway into Downtown West Palm Beach,” Wadler noted.  “The Palm Beach Post property will benefit from the evolution of the CBD, while still remaining a value proposition relative to current office stock within the market.”

Scott Sherman, Co-Founder and Managing Principal of Tricera Capital added, “We are pleased to expand our portfolio across South Florida with this new acquisition and re-activate this amazing asset for the city and the Dixie Highway corridor.”
Scott Sherman


HFF Senior Director
(305) 421-6549

HFF Director, Public Relations
(617) 338-0990 or call 305-673-3011.

Mila Volkova promoted to Director, Healthcare Design and Greg Spon promoted to Director, Architecture in Ware Malcomb's Irvine-based Headquarters Office

Mila Volkova
Irvine, CA (March 4, 2019) – Ware Malcomb, an award-winning international design firm, today announced two promotions in the firm’s Irvine-based headquarters office:

Mila Volkova has been promoted to Director, Healthcare Design and Greg Spon has been promoted to Director, Architecture.
Greg Spon

  The promotions reflect the professional growth of both Volkova and Spon within Ware Malcomb, as well as the overall growth and success of the firm’s Healthcare Design and Architecture studios, respectively.

For over 30 years, Ware Malcomb’s Healthcare Design studio has completed projects ranging from ground up medical office buildings and tenant improvements to highly specialized OSHPD 1, 2 and 3 facilities.

 In her new role as Director, Volkova will lead the growth and management of the firm’s Irvine-based Healthcare Design team.

Volkova joined Ware Malcomb in 2013 as a Project Manager and was promoted to Studio Manager in 2016. She is an active member of the healthcare design community and a thought leader in the space.

Michael Petersen

Named one of 2018’s Women to Watch by Real Estate Forum, Volkova recently spoke about trends in healthcare and the impact they are having on the real estate market at the 2018 Commercial Real Estate Women (CREW) national convention.

 She holds a Bachelor’s degree in Architecture from California Polytechnic State University, San Luis Obispo and is a U.S. Green Building Council LEED Green Associate.

“Mila brings extensive specialized healthcare knowledge to the Ware Malcomb team, and a wide range of design experience including skilled nursing, ambulatory surgery, behavioral health and acute care facilities,” said Michael Petersen, Principal of Ware Malcomb’s Health & Science practice. “Moreover, her energy and passion for success has earned the respect of her clients and colleagues alike.”

Ware Malcomb’s Irvine-based Architecture studio provides a wide range of services for office, advanced manufacturing, industrial, retail and hospitality projects.

Spon joined the Ware Malcomb team in 2015 as a Senior Project Architect in the firm’s San Diego office. He played a significant role in the growth of that office and within two years was promoted to Studio Manager.

Tom Myers

In 2018, Spon moved to Ware Malcomb’s Irvine office as Studio Manager, Architecture to lead the Irvine team. In his new role as Director, Spon assumes the additional responsibilities of business development and overseeing all aspects of the team’s architectural and advanced manufacturing projects.

 A registered architect in California and New York, Spon is an active member of the NAIOP SoCal and Inland Empire chapters.

“Greg’s in-depth architectural experience and sound commercial real estate knowledge have helped him excel in both client management and business development,” said Tom Myers, Regional Vice President of Ware Malcomb. “We look forward to his continued success and contributions to the Ware Malcomb team in the years ahead.”


Rachel Reenders
VP Public Relations
KCOMM for Ware Malcomb

Kelly Teenor, Director, Marketing, 949.660.9128,

Maureen Bissonnette, Associate Principal, Marketing, 949.660.9128,

For more information, please visit and view Ware Malcomb’s Design Highlights video at

Avanath Launches Entity to Focus on Multifamily Development Opportunities

Jun Sakumoto

            IRVINE, CA — Avanath Capital Management, LLC, a private real estate investment manager and Registered Investment Adviser, has launched a new entity focused on new multifamily development opportunities. 

John R. Williams

       The entity will initially be called Avanath Development, LLC and will be led by Jun Sakumoto, who has been promoted from Avanath’s Chief Operating Officer to President of the newly formed entity.

Daryl J. Carter

Avanath Development, LLC’s initial focus will be on four multifamily development projects, three that exist within the firm’s portfolio and a new development in Detroit. The projects currently existing in Avanath’s portfolio that will launch the new entity include Arbors at Cary in Cary, NC; Woodside in Ontario, CA; and Ravenna in Orlando, FL.

“There is a great need for the development of affordable, workforce and value-oriented apartment communities in markets throughout the country,” says Daryl J. Carter, Founder, Chairman and CEO of Avanath Capital Management. “Now is the right time for us to introduce our own division that is devoted to meeting that need.”

Camille Longino

Multifamily development projects led by Avanath Development, LLC will be capitalized by investors seeking development projects in Opportunity Zones. The tax legislation surrounding this new federal initiative benefits investors, developers, and the communities in which the Opportunity Zone development takes place.

Wes Wilson
“The recent Opportunity Zone legislation will fuel capital flows into the affordable-housing investment sector,” says Carter.  “Avanath has been a leading investor in this sector, serving many markets that are in Opportunity Zones. 

Caren Nims

"So, it is consistent with Avanath’s mission and capabilities to create a strategy for Opportunity Zone investors.”
One of those strategies is a venture Avanath is pursuing with a nationally renowned tax-oriented investment firm to launch an Opportunity Zone fund. While the initial capitalization of this fund will be $200 million, Carter believes the fund has the potential to evolve into a $1 billion enterprise over the next five years.

Ronald R. Juskiewicz

Additional Organizational Changes Within Avanath Represent Significant Growth

Jun Sakumoto’s promotion to President of Avanath Development, LLC is reflective of a strategic organizational realignment within the company to match its recent growth and expected expansion.
“The historic and projected growth of Avanath requires the realignment and expansion of our leadership team,” says Carter. “Jun has a strong track record in building new enterprises.  

Ada Arevalo

"At Capri Capital, Jun built our Capri/CalPERS Urban Multifamily platform, and as a founding partner of Avanath, Jun was a key architect in the development of the Avanath Affordable Housing fund series.”
Sakumoto will remain a partner in Avanath and its subsidiaries and will continue to serve on the Avanath Investment Committee.

Along with Sakumoto’s promotion, Avanath has instituted additional organizational changes within the company that represent the firm’s remarkable growth over the past five years. Effective immediately, those changes include:

  • Malachi McKinney, currently Vice President, Asset Management, will transition from Asset Management to Avanath Development, LLC.  McKinney’s strong analytical skills, legal background, and investment banking background will be beneficial in the formation of this new entity.

  • Camille Longino, currently Chief Financial Officer, will be promoted to Chief Operating Officer. Longino has successfully built out Avanath’s Accounting/Finance team. 
  • As COO, she will have Property Management, Asset Management, Capital Improvements, Compliance and Corporate Services reporting to her. 
  • Longino will also continue to be a member of the Avanath Investment Committee. In addition, Longino was recently selected as one of Real Estate Forum’s “Women’s of Influence,” which highlights her role as a leading woman in the industry who continually strives to improve and contribute to Avanath’s prominence in the affordable sector.

Ben Finley

  • Wes Wilson, currently Vice President, Accounting, will be promoted to Senior Vice President and Chief Financial Officer, overseeing Avanath’s accounting, corporate finance, budgeting, and enterprise software areas. 
  • Wilson will also become a voting member of the Avanath Investment Committee. He has supported Longino in building out the firm’s first-class accounting organization and recently completed his MBA at Pepperdine. 

  • Beverly Quinn, Assistant Controller, will be promoted to Property Controller, overseeing all property-level accounting. 

  • Jake Drexl, Senior Fund Accountant, will be promoted to Fund Controller, overseeing Avanath’s Fund Accounting team.

  • Caren Nims, Project Coordinator, will be promoted to Project Manager.

Malachi E. McKinney

  • Pat Gaudin has been hired as SVP of Human Resources. Gaudin has a strong résumé in this area, including a decade of experience as SVP of Human Resources for such Southern California firms as Tectrans/Keolis, Lineage Logistics, and ISI – Interior Logic Group.

  • Avanath’s Human Resources area will now report to Ron Juskiewicz, Vice Chairman and Chief Compliance Officer. The reporting realignment is consistent with a best practice of maintaining independence of HR outside the key operating functions. 
Longino and Wilson will both report to John Williams, President and CIO, along with Ben Finley, Senior Vice President of Acquisitions, and Ada Arevalo, Vice President of Fund Management. Williams, Sakumoto, and Juskiewicz will continue to report to Carter and work closely with him and other senior leaders in leading Avanath through its next phase of evolution.


Lexi Astfalk
(949) 955-7940