Tuesday, August 6, 2019

BKM Capital Partners Acquires 133,595-SF Multi-Tenant Industrial Portfolio in Seattle Metro Market for $14.7 Million

Federal Way Industrial Portfolio,
 a two-property portfolio consisting of 8 buildings totaling 133,595 SF in Federal Way, WA

FEDERAL WAY, WA, Aug. 6, 2019 – BKM Capital Partners, an institutional fund manager with a niche focus on value-add, light industrial multi-tenant investments, has acquired Federal Way Industrial Portfolio, a two-property portfolio consisting of eight buildings totaling 133,595 square feet in Federal Way, Washington.

BKM acquired the portfolio in an off-market transaction for $14.7 million.

“This was a rare opportunity to acquire two highly functional business parks strategically located in metro-Seattle’s tightest industrial submarket,” says BKM Capital Partners Managing Director of Acquisitions, Brett Turner.

Brett Turner
“With current occupancy at 75 percent and fundamentals that are poised to drive new industrial users to the market, there is a clear opportunity to build value in these assets.”

The multi-tenant industrial portfolio is strategically located just south of the Kent Valley industrial submarket off I-5, giving tenants direct access to the Port of Tacoma.

 Turner points to a recently formed partnership between the Northwest Seaport Alliance and the Port of Seattle as a key factor in BKM’s value-add strategy.

“This recent partnership has significantly increased container volumes, which is pushing tenant demand south,” he explains. “This puts our newly acquired portfolio in a direct path of growth, which we can leverage to increase occupancy and maximize performance.”

Max White
BKM will invest $3 million in capital improvements to renovate and reposition the properties, including the conversion of one building from office to industrial.

“The portfolio was originally constructed in 1979, and while it is extremely functional, it has lacked the proper capital investment to modernize the property,” explains Turner.

 “Our plan is to reposition the portfolio as an institutional grade asset that is aligned with the demands of today’s tenants which will allow us to quickly lease remaining vacant space, bring rents up to market, and enhance the long-term value of the property.”

This acquisition also comes on the heels of BKM recently surpassing $1 billion in AUM. The firm has been extremely active in the light, multi-tenant industrial space, and continues to expand its portfolio throughout the western region.

The properties are located at:

·         34004 – 34016 9th Avenue South
·         33623 – 33799 9th Avenue South and 801 – 815 South 336th Street in Federal Way, Washington.

Nicholas Ratzke 
BKM was represented by Max White and Nicholas Ratzke with Neil Walter Company in the off-market acquisition. The seller, a private investor, was also represented by White and Ratzke.


Arbor Funds $22.3 Million Fannie Mae DUS® Loan in Summerville, SC

Brian Scharf

UNIONDALE, NY, Aug. 6, 2019  – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® loan in Summerville, SC.

The property received $22.3M in funding through the program and the loan provides a 12-year fixed rate with five years’ interest only.

Brian Scharf of Arbor’s Uniondale office originated the loan.

4830 Wescott Apartments
“As a national direct lender, Arbor has the nationwide expertise required to meet borrower demands no matter where they do business, including thriving markets such as South Carolina,” Scharf said. “Arbor also provides the personal service needed for investors to take advantage of today’s strong multifamily market conditions.”

A 182-unit property, 4830 Wescott Apartments was built in 2018. The amenities for this garden-style multifamily residence include a swimming pool, fitness and business centers, and a clubhouse. The community is located within a top-rated school district and close to recreation and retail.


Bina Handa
Tel: 516.506.4229

Arbor Funds $50.4 Million Fannie Mae Streamlined Rate Lock Loan in Chicago, IL

Ari Short
UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae Streamlined Rate Lock (SRL) loan in Chicago, IL.

The Residences at 159 Tinley Park 
The loan provides for the refinancing of two properties totaling 457 units. The properties received $50.4M in funding through the program and the loan has a 12-year fixed rate with full-term interest only.

Ari Short of Arbor’s New York City office originated the loan.

“After the sponsors executed on their value-add strategy and completed renovations of both buildings, we were able to structure an attractive loan that provided long-term, interest-only payments at a low rate," said Short.

"Our broker, Harborview Capital, ensured a smooth transaction from start to finish and provided guidance on a complicated ownership structure,”

The Enclave Apartments 
Built in 1974, The Residences at 159 Tinley Park are comprised of 208 one- and two-bedroom units with expansive floor plans and state-of-the-art stainless steel appliances. Amenities include grilling stations and an outdoor swimming pool featuring an aqua lounge. The community is pet friendly with a dog park.

The Enclave Apartments were built in 1971 and consist of 249 units. The property features newly remodeled studio, one- and two-bedroom apartments with walk-in closets and private balconies or patios. The community is located in the northwestern suburb of Chicago.


Bina Handa
Tel: 516.506.4229

NAI Realvest Represents National Firm Relocating Operations to Newly Constructed Multi-Tenant Building at Lee Vista Center in Southeast Orlando, FL

Andrew (Andy) McCaw

ORLANDO, FL--- NAI Realvest’s Andy McCaw, Vice President of Tenant Representation, negotiated a new long-term lease for McCollister’s Transportation Systems, Inc. at the Lee Vista Business Center located off of Hazeltine National Drive in Southeast Orlando .    

The national company based in New Jersey with more than a dozen locations, leased 27,842 square feet in the recently completed Building G at 7455 Emerald Dunes Drive just north of Orlando International Airport.   McCollister’s provides corporate clients with product logistics, commercial services and employee relocation. 

Tom McFadden 
The landlord, Dallas-based Colony Capital, was represented by Tom McFadden of Lee & Associates.


Andrew (“Andy”) McCaw, VP of Tenant Representation, NAI Realvest 
407-875-9989 amccaw@realvest.com

Patrick Mahoney, President / NAI Realvest,
407-875-9989 pmahoney@realvest.com

Beth Payan, Larry Vershel Communications
407-644-4142 lvershelco@aol.com

Studio Other Elevates Cassie Stepanek to Newly Created Position of Design Manager in Los Angeles, CA

Cassie Stefanek

LOS ANGELES, CA,  Aug. 6, 2019 – Studio Other (formerly Tangram Studio), a creator of custom solutions for commercial interior environments and workspaces, has announced the elevation of Cassie Stepanek to the position of Design Manager.

The position has been newly created to support the ongoing nationwide growth of the company.

Stepanek joined Tangram Studio as an Industrial Designer in June 2017. In that position, her focus was on helping clients bring their ideas to life and realize their vision in a cost-effective manner through concept, design development, execution and production as well as serving as liaison with fabricators to create new and innovative solutions.

Previously, Stepanek was with Los Angeles-based MASHstudios, where she served as a furniture designer. Her professional furniture design experience dates to 2014 when she obtained a Bachelor’s Degree in Architecture, Interior Architecture, and Designed Objects from the School of the Art Institute of Chicago followed by a second Bachelor’s Degree in Industrial Design from Savannah College.

Charlotte Wiederholt
“Cassie’s design talent and ability to create meaningful, creative solutions offer exceptional value for our Studio Other clients,” said Studio Other President and Creative Director Charlotte Wiederholt.

“We are excited to provide her with a leadership opportunity as the Studio Other business and market penetration continue to expand.“

In her new role, Stepanek will manage the Studio Other design team, oversee the brand and daily design output, and continue to educate and inspire the team on a creative level. She will also supervise all client projects and dealer relationships nationwide.


Rachel Reenders