Monday, August 12, 2019

Arbor Funds $23 Million Fannie Mae DUS® Green Rewards Loan in Pembroke Park, FL


Alexander Kaushansky


                                    
UNIONDALE, NY, Aug. 12, 2019 – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® Green Rewards Loan in Pembroke Park, FL.

The property received $23M in cash-out refinancing through the program. The loan provides a 12-year fixed, full term rate with four years of interest only.

Alexander Kaushansky of Arbor’s New York City office originated the loan.

“We were glad to provide the bridge debt in order for our client to stabilize and create value for Azure Villas and our borrower was also excited to take advantage of the low rate FNMA loan,” Kaushansky said.

Azure Villas
 “Arbor’s multiple products and seamless transition to permanent financing are integral to the success of strong real estate owners and operators.”

Azure Villas, a 226-unit multifamily garden-style property, was built in 1971. On-site amenities include a swimming pool, clubhouse, playground and common laundry area.

Azure is centrally located just minutes from downtown Ft. Lauderdale and Miami with easy access to premium shopping, dining, entertainment and nightlife.

Contact:

Bina Handa
Tel: 516.506.4229

Berger Commercial Realty Secures Third Florida Location for Klima Control Air Conditioning & Heating


Joseph Byrnes
FORT LAUDERDALE, FL (Aug. 12, 2019) – Berger Commercial Realty/CORFAC International Senior Vice President Joseph Byrnes and Senior Sales Associate Johnathan Thiel recently represented Klima Control Air Conditioning & Heating, LLC in leasing 17,247 square feet of industrial space from DBT Properties Investment, Inc. at St. Lucie Design Center, located at 321 N.W. Peacock Blvd. in Port St. Lucie.

With this lease, Klima Control has established its third location in Southeast Florida. The company currently operates facilities in Fort Lauderdale and West Palm Beach.

“Klima Control’s growing customer base necessitated its expansion into the St. Lucie County market,” said Thiel. “We’re glad we were able to set them up in a first-class showroom and warehouse that will accommodate additional growth.”

Jonathan Thiel
Klima Control’s 17,247 square feet at St. Lucie Design Center consists of 8,384 square feet of showroom and customer service area, 7,487 square feet of warehouse space and 1,376 square feet of mezzanine space.

St. Lucie Design Center is comprised of 57,814 square feet and offers overhead doors, 24 feet of clear ceiling height and close proximity to I-95. In addition to Klima Control, tenants include The Kitchen Guys, Lumber Liquidators, Composite Essentials, Lennox and Straightline.

DBT Properties Investment, Inc. was represented by Nathaniel Bray of Bray Realty Advisors in the transaction.

Nathaniel (Nate) Bray
For more information about Berger Commercial Realty’s tenant representation services, please call 954-358-0900.
  
Media Contacts:

 954-776-1999
Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com

www.corfac.com or  224.257.4400

Berger Commercial Realty Facilitates $866,250 Sale of Pompano Beach, FL Warehouse


Warehouse at 1400 South Dixie Highway, Pompano Beach, FL

Brian Batchelder
 FORT LAUDERDALE, FL – Berger Commercial Realty/CORFAC International Vice President Brian Batchelder and Senior Vice President Steve Hyatt brokered the sale of a Pompano Beach warehouse for $866,250. 

Located at 1400 S. Dixie Highway, the 6,281-sqaure-foot freestanding warehouse was purchased by Cinco Zetas, LLC. The transaction closed on July 29.

The property features overhead doors, 16 feet of clear ceiling height, a light storage mezzanine above the office area and a 6,700-square-foot fenced yard for additional parking or outside storage.

Media Contacts:

954-776-1999

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com


JLL arranges $50.4 million financing for Longmont, CO apartment project



Rendering of planned Farm Haus apartments to be located at
 East 3rd Avenue and Great Western Drive, Longmont, CO

DENVER, CO  JLL announces it has arranged financing totaling $50.4 million for the development of Farm Haus, a 280-unit, Class A apartment project in the north Denver suburb of Longmont, Colorado.

JLL worked on behalf of the developer, a joint venture between Massimino Development and Origin Investments, to place the higher leveraged structured floating-rate construction financing. 


Josh Simon
The financing featured no repayment guaranty and a 36-month loan with two 12-month extension options.

Farm Haus will be constructed on a 13.52-acre parcel at the northwest corner of East 3rd Avenue and Great Western Drive just south of E. Ken Pratt Boulevard (Route 119). 

Due for completion in 2021, the property will feature a modern farmhouse design while incorporating resort-style amenities and lush landscaping. 

Interior amenities will include a lobby with expansive windows overlooking the grand exterior patio, pool terrace, tree orchards and Lone Peak that leads into a resident lounge and clubhouse equipped with billiards and gaming space and demonstration kitchen with flexible dining or co-working space. 

Outdoor amenities include built-in barbecues, resort-style pool with multiple water features, pool house with built-in bar, outdoor TVs and games, playground, dog park and several landscaped “pocket” parks with seating.

Leon McBroom
Residences will feature master suites with spacious walk-in closets, double vanities, oversized tubs, charging stations, nine-foot ceilings, full-sized washers and dryers, large modern kitchens, designer cabinets, stainless steel appliances, pendant lighting, designer flooring, private balconies and Bluetooth keyless entry. 

Of the 280 units, 247 will be market-rate and 33 will be designated as affordable. The four-story property is less than three miles from downtown Longmont and is a short drive to the Longmont Park-n-Ride.

The JLL Capital Markets team representing the developer was led by Managing Director Josh Simon and Senior Director Leon McBroom.


Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.


Contacts: 

Josh Simon, JLL Managing Director
Phone:  +1 303 515 8000

 Leon McBroom, JLL Senior Director
Phone:  +1 303 515 8000

 Olivia Hennessey, JLL Public Relations Specialist
Phone:  +1 713 852 3403
Email: Olivia.Hennessey@am.jll.com

Stonehill Expands into Property Assessed Clean Energy (PACE) Lending for All Asset Classes



Anne Hill

ATLANTA, GA, Aug. 12, 2019—Stonehill today announced that it now provides Property Assessed Clean Energy (PACE) lending. 

 The company also named Anne Hill president and Connor Murch director of business development.  Together they will head up the newly formed Stonehill PACE division.

“Anne and Connor have unparalleled reputations as some of the leading providers of gap financing for construction projects, and their knowledge of PACE lending is second to none,” said Mat Crosswy, principal, Stonehill. 

 “They are the ideal candidates as we further expand our lending capabilities.  For the first time, we will offer these services to all asset classes, not just to the hospitality industry. 

"We will target new construction projects, including hotels, multi-family, senior living and student housing, looking for a low-cost alternative to mezzanine financing.”

Connor Murch

            In her new role as president of Stonehill PACE, Hill will be actively involved in sourcing and underwriting opportunities and building partnerships with construction lenders nationwide. 

 Prior to Stonehill, Hill was president of RAHILL Capital, the nation’s leading originator of CPACE transactions for new construction.  She also was senior vice president of corporate development at Murphy Company, one of the largest commercial mechanical contractors and engineers in the nation. 

Matthew (Mat) Crosswy

 Hill earned her bachelor’s degree in architecture from Princeton University and her MBA from the Stanford Graduate School of Business.
            As director of business development, Murch will identify and prequalify opportunities for PACE financing, as well as work with developers to structure PACE to fit with the other components of the capital stack.

Previously, he was senior finance manager with RAHILL Capital.  During his tenure there, he worked with Hill and the rest of the RAHILL team to source and close more than $85 million in CPACE loans.  

 Prior to that, he served as principal at Conquest Strategies, a commercial real estate/tech start-up consultancy.  Also, he was principal and financial manager at Revival STL Construction, where he sourced financing for more than $100 million in acquisitions. 

Murch received his BSBA in finance & real estate from the University of Missouri-Columbia.
           
“Mat and the rest of the Stonehill team have put together an excellent platform to provide various levels of financing for the hospitality industry, and adding a PACE division allows the company to grow beyond its hospitality roots,” Hill noted. 

Brent LeBlanc 

“We now offer a turnkey solution to developers looking for additional funds to complete their projects on time and on budget.”

“PACE funding is available for most projects that adhere to local ordinances without having to rework design plans,” Murch added.  “It’s a cost-efficient solution we believe will be attractive to many developers.”

To discuss potential hotel financing opportunities, please contact Brent LeBlanc at 713-666-2544 or bleblanc@stonehillsc.com.


Contact:

 Chris Daly, media
 (703) 435-6293