Saturday, February 29, 2020

Marcus & Millichap Promotes Jason Hauge and Ned Roberts in Tampa, FL Office

  
 
Jason Hague
TAMPA, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced that Jason Hague and Ned Roberts, CCIM of the company’s Tampa office, have been promoted to First Vice President Investments and Vice President Investments, according to Chris Travis, Regional Manager. 

“Jason and Ned’s brand in the market goes beyond a transactional relationship with their clients. The RPH Multifamily Group is the beacon for how agents should operate and the success that comes from putting their clients’ needs first,” says Travis.

Ned Roberts
Hague was most recently a senior associate with Marcus & Millichap. He began his career at the firm in 2013 as an associate, was promoted to senior associate in 2017 and earned a sales recognition award in 2019. 

Hague specializes in multifamily properties in the firms’ Tampa office and is a co-lead in the RPH Multifamily Group. While with Marcus & Millichap, Jason achieved this First Vice President accomplishment with a history of 70 transactions valued at over $224 million dollars.

Adam Podbelski
Roberts was also most recently a senior associate with Marcus & Millichap. He began his career at the firm in 2015 as an associate and was promoted to senior associate in 2018. 

He achieved sales recognition awards in 2018 & 2019 and the National Achievement Award in 2019. 

Roberts specializes in multifamily properties in the firms’ Tampa office and is partners with Hague and Adam Podbelski in the RPH Multifamily Group. Roberts has built a proven track record of more than 70 transactions valued at over $265 million dollars during his tenure.

 Chris Travis
About Marcus & Millichap (NYSE: MMI):

With nearly 2000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. 

Founded in 1971, the firm closed 9,472 transactions in 2019 with a value of approximately $64 billion.

Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. 


CONTACT:

         Whitney Davis 
Whitney.Davis@marcusmillichap.com

JLL closes sale and financing of San Antonio, TX multi-housing property


Moses Siller 
SAN ANTONIO, TX – JLL Capital Markets announced  it has closed the sale and arranged financing for OakRidge Apartment Homes, a 216-unit, value-add, garden-style multi-housing property located in the Northeast San Antonio submarket.

JLL marketed the property exclusively on behalf of the seller, Regional Investment & Management (RIM), and procured the buyer, Bellaire Partners, LLC. Additionally, working on behalf of the new owner, JLL arranged a five-year, fixed-rate acquisition loan through NexBank.

OakRidge Apartment Homes features 15 three-story buildings with units averaging 692 square feet. The well-maintained property features a resort-style pool, state-of-the-art fitness center, clubhouse, business center, grilling area and playground.

Zar Haro
 Located at 11200 Perrin Beitel Road, the property is near Wurzbach Parkway and Interstate 410 Loop, which provides connectivity to all areas in the San Antonio-Austin corridor. 

Additionally, the property is less than five minutes from the Northern Hills Country Village shopping area, less than two miles from the Northern Hills Golf Club and approximately seven miles from the San Antonio International Airport.

The JLL Capital Markets team representing the buyer was led by Senior Directors Moses Siller and Zar Haro.

JLL’s Capital Markets debt placement team representing the new owner was led by Senior Managing Director Mark Brandenburg.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. 
Mark Brandenburg

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

 About Bellaire Partners, LLC

Bellaire Partners, LLC is a real estate private equity firm established by George Lintz to offer passive real estate investments for accredited investors, family offices and institutions. 

Lintz founded The Bellaire Group of Companies in 2009 and is an owner operator of multifamily real estate in Texas, California and Wisconsin. 

Contact:

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


Thursday, February 27, 2020

Berger Commercial Realty Represents Sample Executive Center in 23,010-SF Lease to Full Circle Education, LLC



Johnathan Thiel 

FORT LAUDERDALE, FL – Berger Commercial Realty/CORFAC Senior Sales Associate Johnathan Thiel and Senior Vice President Keith R. Graves, CCIM, recently represented Sample Executive Center, LLC, the landlord, in the lease of 23,010 square feet to Full Circle Education, LLC.

The property is located at 2001 W. Sample Road, on the northeast corner of Powerline Road in Deerfield Beach, Florida.

“With proximity to major roadways, including I-95 and Florida’s Turnpike, the strategic location of this office property, coupled with building signage, made it ideal for Full Circle Education and its students,” said Thiel. 

For more information about Berger Commercial Realty’s leasing services, Please call (954) 358-0900.

  
 CONTACT:

Jennifer J.H. Pierce
Account Director
Pierson Grant Public Relations
6451 N. Federal Highway   Suite 1200
Fort Lauderdale, FL   33308
 T:  (954) 776-1999, ext. 232
E:  jpierce@piersongrant.com



Billy Nash of Illustrated Properties Wins “Best Real Estate Agent in Palm Beach County” Award



Billy Nash

PALM BEACH, FL – Billy Nash of Illustrated Properties, a member of The Keyes Family of Companies, was selected by Palm Beach Post readers as the Best Real Estate Agent in Palm Beach County during the publication’s annual “Best of Palm Beach County” awards reception on Feb. 24 at the Palm Beach Convention Center.

 More than 270,000 votes were cast for the 2020 edition, and the red-carpet gala attracted 700 attendees. 

 Nash is the powerhouse agent behind Nash Luxury, based at Illustrated’s corporate headquarters in Palm Beach Gardens.
Nash Luxury specializes in ultra-luxury homes and condominiums throughout South Florida. He has become one of most recognized and sought-after luxury real estate advisors in South Florida. 

 CONTACT:

Eric Kalis
Vice President, BoardroomPR
O 954-370-8999 
C 305-794-5123


Levin Johnston Completes Two Multifamily Transactions Totaling $24.45 Million in San Mateo, CA



600 Mariners Island, a 24-unit apartment community in San Mateo, CA sold for $13 Million

SAN MATEO, 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, successfully completed the sale of two multifamily communities in San Mateo, California, with a total transaction volume of $24.45 million.
 “Investor demand in San Mateo is at an all-time high as employment opportunities and superb quality-of-life are driving down vacancy rates and placing upward pressure on rents,” explains Adam Levin, executive managing director for Levin Johnston.

 Adam Levin
 While job growth remains strong throughout the entire Bay Area, the San Francisco/Peninsula submarket, which encompasses San Francisco and San Mateo County, experienced 3.5 percent employment growth last year, outpacing the East Bay at 2.2 percent.”

 Levin Johnston’s recent San Mateo transactions include:
Levin Johnston Directs Acquisition of 24-Unit Trophy Apartment Community
            Levin Johnston of Marcus & Millichap directed the acquisition of 600 Mariners Island, a 24-unit apartment community in San Mateo, California, to a foreign investor for $12.95 million. The seller, a private owner, was also represented by Levin Johnston.
“This acquisition presented a rare opportunity to purchase a trophy asset in a strong and highly robust multifamily market,” explains Robert Johnston, senior managing director for Levin Johnston.
 “Drawing upon our deep market knowledge and strong investor relationships, we were able to quickly identify a buyer and close the deal within 14 days.”
According to Johnston, the appeal of this asset to both local and international investors is driven by San Mateo’s reputation as one of the most affluent and prosperous counties in the nation, with strong employment fundamentals and low vacancy levels.
Robert Johnston
The property is in close proximity to many of the nation’s top tech employers including Facebook, Oracle, GoPro, and Sony. 
The greater San Mateo County market is also experiencing an influx of office expansions and new development including the Gilead Sciences campus, Illumina campus, Franklin Templeton headquarters, and Facebook’s Oculus offices. Residents also benefit from convenient access to retail destinations and local parks.
Originally constructed in 1976, 600 Mariners Island offers waterfront views and consists of six two-bedroom/one-bathroom units and eighteen one-bedroom/one-bathroom units.
Community amenities include a full-sized swimming pool, a children’s swimming pool, clubhouse, boat launch, private storage, modern fitness center, dog park and playground.
The property is located at 600 Mariners Island in San Mateo, California.
Levin Johnston Completes $11.5 Million Sale of 31-Unit Multifamily Community
            Levin Johnston directed the sale of Station 401 @ Poplar, a 31-unit multifamily community in San Mateo, California, for $11.5 million. The firm represented the seller and the buyer, both private investors, in the transaction.
            “Station 401 @ Poplar is situated in a world-class location in close proximity to major employers and transportation corridors,” says Johnston. “The asset was previously listed unsuccessfully by other local brokers. Keeping our finger on the pulse of the market, we were able to bring in a buyer and ultimately negotiate an attractive price that made sense for both our clients.”

Station 401 @ Poplar, a 31-unit multifamily community
at 
401 East Poplar Avenue in San Mateo, CA
 sold for $11.5 million 

CONTACTS:

Alex Caswell / Elisabeth Manville 
Brower Group
(949) 438-6262


Wednesday, February 26, 2020

'She Has a Deal' Announces Inaugural Hotel Investment Master Class in McLean, VA


  
Tracy Prigmore

McLEAN, VA, Feb. 26, 2020--She Has a Deal, a hotel investment pitch competition for early-career women, today announced it will host its inaugural Hotel Investment Master Class on April 23-24, 2020, at the Hilton McLean in McLean, Va. 

 “I started the ‘She Has a Deal’ pitch competition to create new pathways to hotel ownership and development for women with the goal of increasing the number of women in the field,” says Tracy Prigmore, founder. 

File photo
 “As we’ve taken our pitching teams through our extensive hotel ownership education series, men and women from numerous and varying backgrounds have asked me to share that information on a broader scale.

 “From my real estate investment firm, TLTsolutions, to the pitch competition, my mission always has been to empower people to build wealth, and we open the door to real estate investing for aspiring investors." 

For more information and to purchase tickets for the She Has a Deal Hotel Investment Master Class, please visit www.shehasadeal.com/education.

 CONTACT:

CHRIS DALY
PRESIDENT
DALY GRAY PUBLIC RELATIONS, INC.
620 Herndon Parkway, Suite 115 | Herndon, VA 20170
Main: 703-435-6293
Mobile: 703-864-5553

Tuesday, February 25, 2020

KBS Assisted in $165.5 Million Acquisition of Park Tower in Sacramento, CA


Park Tower, a 489,171 square-foot Class A office building in downtown Sacramento, Ca

SACRAMENTO, CA (Feb. 25, 2020) – KBS, one of the largest investors in premier commercial real estate in the nation, announced today the company assisted in the acquisition of Park Tower, a 489,171 square-foot Class A office building in downtown Sacramento, California. 

Rod Richerson
The property was acquired for $165.5 million by Prime US REIT (PRIME), which trades on the Singapore Exchange Securities Trading Limits ticker as: OXMU. 

Grant Lammersen, Steve Golubchik and Tyler Myerdirk of Newmark Knight Frank brokered the transaction.

Bruce Fischer, Christine Fan, and Howard Chu of global law firm Greenberg Traurig, LLP’s Orange County office represented PRIME as legal counsel in the acquisition.

KBS serves as the U.S. based asset manager for the portfolio, which included identifying and sourcing this asset on behalf of the portfolio. Park Tower is a Class A property that consists of 24 stories of office space, retail and parking garage space.

Grant Lammersen
“This is the first new acquisition for the portfolio since listing 11 properties on the Singapore Exchange last year,” says Rod Richerson, regional president, Western United States, for KBS.

 “Acquiring Park Tower is a strategic investment into a prime location and a premier asset. At 92% occupancy, Park Tower is one of the top five buildings in the downtown Sacramento market with strong in-place cash flow and a diverse base of credit tenants.”

Sacramento is a region with healthy fundamentals for continued growth, adds Richerson.


 “Private companies are increasingly drawn to Sacramento for its abundant young and highly educated workforce and lower cost of living. More than 34% of individuals in the area have a college degree.”


 Christine Z. Fan

According to a Q4 2019 Sacramento Market Report from Newmark Knight Frank (NKF), the Sacramento office market maintained its positive momentum in the fourth quarter to finish the year strong. 


Steve Golubchik 
Net absorption was positive for the 13th consecutive quarter, totaling 159,317 square-feet, which brought the year to date total to a positive 780,922 square-feet.

Sacramento’s office market also features high barriers to entry with less than 5% vacancy in Class A office assets and no new projects under construction in the downtown market. 

Several major tech, biotech and healthcare firms have a presence in the region, including the Intel Corporation, Hewlett Packard, Apple, Sutter Health, Affymetrix, Lipomics Technologies Inc., Calgene LLC, Novozymes Biotech Inc. and Volcano Therapeutics.

One of the tallest buildings in Sacramento, Park Tower is centrally located at 980 9th Street and 1010 8th Street in Sacramento, California. 


Tyler Myerdirk 
The asset is situated within walking distance of California’s state capitol; Downtown Sacramento’s retail and entertainment core, Downtown Common, a newly developed mixed-use entertainment and shopping complex with 670,000 square-feet of retail, entertainment; and Golden 1 Center, the NBA’s Sacramento Kings’ basketball arena. 

Currently in development is a mixed use project called The Railyards which will double the size of downtown Sacramento when it’s completed. 

It’s the largest in-fill development project west of the Mississippi River and will include up to 515,00 square-feet of retail, 10,000 housing units, a state-of-the-art 21,000 seat soccer stadium and a 1.22MM square-foot 18-acre Kaiser Medical Center.


Bruce Fischer
“Working with PRIME to acquire a trophy asset in the heart of one of the strongest markets in California is a testament to KBS’ ability to identify best-in-class assets that attract today’s top office users,” says Brent Carroll, senior vice president for KBS and asset manager Park Tower. 

“This transaction allows us once again to utilize our proven hands-on asset management strategy to provide tenants with high-quality, well-amenitized office space.”


CONTACT:

Micaela Fehrenbach 
mfehrenbach@brower-group.com


Lifetime Achievement Award to be presented at CFCAR Hallmark Awards Luncheon Friday Feb. 28 to Central Florida Real Estate Businessman John Crossman



John Crossman
ORLANDO, FL ---   The Central Florida Commercial Association of REALTORS® will host the Hallmark Awards Luncheon at the Marriott in Lake Mary Friday Feb. 28 to recognize the best of the best for 2019 in the commercial real estate industry. 
CFCAR represents the ten-county area of Alachua, Brevard, Flagler, Lake, Marion , Osceola, Orange , Seminole, Sumter and Volusia.  
 Some of the Central Florida ’s most dedicated and productive commercial real estate pros will be recognized according to this year’s Hallmark committee chair, CFCAR’s President Paul P. Partyka, CCIM, MiCP who will be officiating.  
A highlight of this year’s award luncheon is the Lifetime Achievement Award to be presented to John Crossman, CCIM, outstanding Florida leader dedicated to helping the community. 
Paul P. Partyka
Throughout his commercial real estate career, Crossman has been passionate about inspiring the next generation by mentoring students and providing exposure and opportunities for diverse students to pursue careers in commercial real estate.

Register to attend the Hallmark Awards Luncheon by logging on to http://www.cfcar.net/Hallmark-Awards or for more information call President Paul Partyka at 407-341-0805