Friday, May 24, 2019

HFF arranges $24 million financing for Rexford Park I and II in Charlotte, NC



Rexford Park I and II, two office buildings
 totaling 136,812 square feet in Charlotte, NC

CHARLOTTE, NC –  Holliday Fenoglio Fowler, L.P. (HFF) announced that it has arranged $24.505 million in financing for Rexford Park I and II, two office buildings totaling 136,812 square feet in Charlotte, North Carolina.

Cory Fowler
HFF worked on behalf of the borrower, a partnership between Childress Klein and Gottesman Real Estate Partners, to secure the six-year, floating-rate first lien financing through Atlantic Union Bank.  

Loan proceeds are being used to acquire, renovate and re-lease the buildings.

Rexford Park I and II is located at 2100 and 2115 Rexford Road within SouthPark, one of Charlotte’s dominant Class A submarkets.  

This location has excellent demographics with an average household income exceeding $152,000 per year within one mile of the property and is within close proximity to the affluent residential enclaves of Barclay Downs, Myers Park, Foxcroft and Quail Hollow, where many local prominent business leaders reside.  

Additionally, Rexford Park has direct access to Interstate 77 as well as a plentiful retail amenity base, including The Specialty Shoppes at SouthPark, SouthPark Mall and the retail and dining offerings of Morrison.  

The borrower plans to do extensive renovations to the properties, which includes new state-of-the-art interior common spaces, major improvements to the exterior fa├žade, and significant upgrades to building systems.

HFF’s debt placement team was led by senior director Cory Fowler.


 CONTACTS:

CORY FOWLER
HFF Senior Director
(704) 526-2800

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


HFF arranges sale and financing for Class-A self storage facility in Nashville


Barbara Guffey
HOUSTON, TX – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the sale of and arranged acquisition financing for Charlotte Pike Storage, a newly constructed, 952-unit, state-of-the-art self storage facility in Nashville, Tennessee, that is now third-party managed by Public Storage. 

HFF marketed the property on behalf of the seller, Provident Realty Advisors, Inc.  Proffitt Dixon Partners purchased the asset.  Additionally, HFF arranged acquisition financing on behalf of the new owner. 

Charlotte Pike Storage, 512 26th Avenue North, Nashville, TN 

Completed in October 2018, Charlotte Pike Storage includes all climate-controlled units housed in one 88,175-square-foot building that features modern state-of-the-art amenities.

Jason Nettles
Situated at 512 26 Avenue North, the facility is near the thriving neighborhoods of West End, Belle Meade and Sylvan Park, providing immediate access to the growing residential population, Vanderbilt University, the new Amazon operations center and multiple other commercial drivers. 

More than 104,575 residents earning an average annual household income of $94,328 live within a three-mile radius of the facility.

The HFF investment advisory team representing the seller included managing director Barbara Guffey and senior managing director Jason Nettles.


The HFF debt placement team representing the new owner consisted of managing director Brent Bowman and senior managing director Travis Anderson.

Brent Bowman
About Provident Realty Advisors, Inc.

Provident Realty Advisors, Inc. is a privately held real estate and investment firm that seeks to provide exceptional risk-adjusted returns to its investor partners through superior development of opportunistic and value-added strategies. 

 Since its formation in 1991, Provident has developed or invested in more than $3 billion worth of real estate projects.

 Visit http://www.providentrealty.net
to learn more.



About Proffitt Dixon Partners

Proffitt Dixon Partners is an investment and development firm with a focus on Class-A apartment communities and self storage facilities in the Southeast. 

Travis  Anderson
The firm has closed transactions valued at over $800 million since 2008.  Proffitt Dixon Partners is active in North Carolina, South Carolina, Georgia and Tennessee. 

The firm continues to seek unique opportunities in markets and submarkets with high barriers to entry, solid fundamentals and strong population growth. 

 For more information, please visit http://www.proffittdixon.com.


CONTACTS:

BARBARA GUFFEY
HFF Managing Director
(713) 852-3500

JASON NETTLES
TN Lic. #00319495
HFF Senior Managing Director
(404) 832-8460

BRENT BOWMAN
HFF Managing Director
(704) 526-2800

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

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

Gulf Building LLC Selected to Build Atla West Project in Delray Beach, FL


Rendering of planned Atla West, a 7.4 acre site at 600 to 800 West Atlantic Avenue Delray Beach, FL
DELRAY BEACH, FL – Gulf Building LLC was selected as part of the BH3 Management Team to build ATLA West in Delray Beach.

The Team was approved to move forward with the purchase of a 7.4 acre site at 600 to 800 West Atlantic Avenue for the new development.

Gulf Building LLC will serve as general contractor and will assist with Community Outreach efforts throughout the project. Additional team members include: ID&D Design International, Richard Jones Architecture, Levy Land Trust, SA Nelson Associates, Dave Bodker Landscape Architecture/Planning, Saul Ewing Arnstein & Lehr, and Joe Snider Consulting.

John Scherer
ATLA West will provide apartments, including workforce housing units; retail/restaurants; a grocery store; office space; an open public area located in the middle of the project called “frog alley” which reflects the history of the area; and an abundance of much needed parking.

The deal, approved by the Delray Beach Community Redevelopment Agency on April 9th, will now go before the City Commission for site plan approval.

“As a 28-year old local firm with an office just a few blocks away, Gulf is excited to part of this team and we look forward to building this long-awaited project for the Delray Beach community,” said John Scherer, President at Gulf Building.

CONTACT:

Jasmin Curtiss
 jcurtiss@boardroompr.com

 gulfbuilding.com.


Jaime Sturgis Secures Another Prestigious New Development Assignment in Flagler Village, Fort Lauderdale, FL


Rendering of planned Motif, formerly known as ArchCo Metropolitan, a 385-apartment project under construction
at 500 North Andrews Avenue, Fort Lauderdale, FL

Jason Jacobson
FORT LAUDERDALE, FL –– Jaime Sturgis, Founder and CEO of Fort Lauderdale commercial real estate firm Native Realty, continues to be the go-to broker for developers and investors seeking to curate their Flagler Village projects with an exciting mix of retailers and restaurants.

 In the latest example, ArchCo Residential and Bluerock Real Estate Holdings have retained Sturgis to exclusively market the retail and restaurant space at their significant Motif development in the neighborhood.

Motif, which was formerly known as ArchCo Metropolitan, is a 385-apartment project under construction at 500 N. Andrews Ave. Sturgis is marketing 12,888 square feet of retail and 10,152 square feet of restaurant space on the ground floor of the development.

Jaime Sturgis

The site spans a full block from North Andrews Avenue to Northeast First Avenue and from Northeast Sixth to Fifth streets.

“We have been impressed by Native’s placemaking efforts in Flagler Village and other urban core neighborhoods in Broward County,” ArchCo Residential’s Jason Jacobson said.

“The passion and creativity of Jaime Sturgis and his team should result in an exciting group of retailers and restaurants to help carry out our vision for Motif.”

Native Realty is headquartered at 719 NE Second Ave. in Flagler Village.

CONTACT:

Eric Kalis
Vice President, BoardroomPR
O 954-370-8999
C 305-794-5123
Bank of America Plaza | 1776 N Pine Island Road


The Castell Project Opens Nominations for First Annual Castell Award


Peggy Berg

ATLANTA, GA — Castell Project, Inc., a 501(c)3 nonprofit organization dedicated to accelerating the careers of women professionals in the hospitality industry, has opened nominations for the first annual Castell Award recognizing a woman leader in the hospitality investment arena. 

“The work we are doing to assist  women secure one in every three leadership seats in the hospitality industry would not be possible without the powerful females already making a difference in our industry, ,” said Peggy Berg, president, Castell Project, Inc. 

 “There is a plethora of these deserving leaders, and we anxiously await learning  about the  impacted they are having on coworkers, female and male, and how they are shifting the culture within their organizations. 

"We look forward to sharing these stories to inspire other women as they find their own paths to success.”

The inaugural award winner will represent one or more of the following characteristics:

1.    Change-maker: Leads strategic improvement programs for their organization
2.    Trailblazer: Opens new paths in the industry
3.    Gender Equity Champion: Creates opportunities for women
4.    Principled Professional: Demonstrates ethical business conduct within their organization and the industry

JW Marriot Desert Ridge Resort, Phoenix, AZ
The Castell Award will be presented at this year’s Lodging Conference held in Phoenix, Ariz., from September 23-26, 2019, at the JW Marriot Desert Ridge Resort. 
The winner will receive a unique, handcrafted award designed by artist Brad McCollum representing the numerous levels women overcome to succeed. 

To nominate a female hospitality industry leader, please visit https://surveys.str.com/s3/Castell-Award-Nomination-Form.  Deadline for submissions is July 1, 2019.


CONTACT:

Chris Daly, media
(703) 435-6293