HFF announces the $8.64 Million sale of single-tenant retail property near St. Louis, MO

Kohl's, Manchester, MO

Marc Mandel

PHILADELPHIA, PA –– HFF announces the $8.64 million sale of an 89,305-square-foot, single-tenant retail building occupied by Kohl’s in the suburban St. Louis community of Manchester, Missouri.

The HFF team marketed the property on behalf of the seller, Kimco Realty Corp. 

The building is leased to Kohl’s, which has occupied the property since 1998 and recently executed a 10-year lease extension.  The property is situated on 9.546 acres at 14425 Andersohn Drive in Manchester, a strong regional trade area surrounded by national tenants. 

Located at a “main and main” location approximately 22 miles west of downtown St. Louis, the building is on the hard corner of two strong regional roadways with traffic counts of more than 46,725 vehicles per day and surrounded by dense, affluent residential neighborhoods. 

Stephen Schrenk

 It is estimated that more than 83,800 residents earning an average annual household income of $121,289 live within a three-mile radius of the Kohl’s.

The HFF team representing the seller included managing director Marc Mandel, director Steve Schrenk and managing director Danny Kaufman.

“We saw strong activity for this asset and received multiple offers,” Mandel said.  “Through this competitive process, we were able to deliver full asking price for our client in less than 90 days from hire to sale.”

Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. 

Daniel Kaufman

As of March 31, 2018, the company owned interests in 475 U.S. shopping centers comprising 81 million square feet of leasable space primarily concentrated in the top major metropolitan markets.

Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for 60 years.

For further information, please visit www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or follow Kimco on

Twitter at www.twitter.com/kimcorealty.

For more information, please contact:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

HFF announces $10.2 Million in financing for Tulfra Real Estate self-storage development in Northern New Jersey

Jon Mikula

FLORHAM PARK, NJ, May 21, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the placement of $10.2 million in financing for the development of a 925-unit, to-be-built, CubeSmart-branded self storage facility on the border of Nutley and Clifton in Passaic County, New Jersey.

The HFF team worked on behalf of the developer, Tulfra Real Estate, to place the construction loan with Bank of New Jersey.  Loan proceeds will be used for acquisition costs, site improvements, construction and facility lease up.

  In addition to 10 Kingsland, Bank of New Jersey has financed numerous projects developed by Tulfra Real Estate. 

The three-story, 125,000-square-foot self storage facility will contain 765 climate-controlled and 160 non-climate-controlled units in a variety of sizes. 

CubeSmart will lease up and manage the property, which includes retail space for selling supplies and facilitating unit and truck rentals. 

Situated on 6.5 acres at 10 Kingsland Street in Nutley, the facility is on the border of Nutley and Clifton and adjacent to Route 3, a prominent retail corridor. 

Michael Klein

Within a three-mile radius of the property, there are an estimated 92,237 households, including 41,756 renter-occupied housing units, and the Garden State Parkway is 2.5 miles west of the property, and Interstate 95 (New Jersey Turnpike) is five miles east. 

The HFF debt team representing the developer included senior managing director Jon Mikula and managing director Michael Klein.

“HFF is pleased to have placed yet another loan for Tulfra Real Estate,” Klein said.  “The property’s location off Route 3, its strong demographics within the trade area and a top-tier operator such as CubeSmart made this a very attractive deal to lenders.”

  

HFF and Holliday GP Corp. are licensed New Jersey real estate brokers.

 For more information, please contact:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

tulfra.com.

HFF announces $109.8 Million sale and $103.61 Million financing of 1390 Market Street in San Francisco to Swift

1390 Market Street, San Francico, CA

Michael Leggett

SAN FRANCISCO, CA, May 21, 2018 – HFF announces the $109.8 million sale and the $103.61 million financing of a subdivided condominium interest in 1390 Market Street, a transit-oriented, 219,711-square-foot office building with ground-floor retail in San Francisco, California.

The HFF team represented the seller, Broadreach Capital Partners, and procured the buyer, Swift Real Estate Partners. 

 Additionally, the HFF team arranged a floating-rate acquisition loan through Brookfield on behalf of the buyer.

1390 Market Street is located in San Francisco’s Mid-Market, which has become one of the most desirable neighborhoods for growing technology companies. 

Gerry Rohm

This location along Market Street is just two blocks from the Civic Center BART/Muni station providing all major forms of public transit to the San Francisco International Airport, Oakland and the greater Bay Area. 

Originally built in 1967, 1390 Market Street was renovated in 2007 and features 218,791 square feet of office space and 920 square feet of ground-floor retail. 

 The LEED Gold certified building is leased to tenants, including Twitter, Jones Clifford and several branch offices of the City of San Francisco.  The property also includes apartments on the top floors of the building, which were not a part of the sale or financing.

David Dokko

“We are pleased with the acquisition of 1390 Market Street, and are excited to expand our presence in San Francisco,” said Tommy Christman, the asset manager of the acquisition.  “We believe 1390 Market has the potential to be Mid-Market’s premiere multi-tenant destination appealing to a wide array of tenants, including those in government and tech.”

The HFF investment advisory team representing the seller included senior managing directors Michael Leggett and Gerry Rohm, senior directors David Dokko and Ben Bullock, director Thomas Foley and analyst Austin White.

The HFF debt placement team representing the borrower that arranged the Brookfield financing consisted of senior director Jordan Angel and analyst Bercut Smith.

Ben Bullock

Holliday GP Corp. ("HFF") is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

Headquartered in San Francisco, Swift Real Estate Partners (“Swift”) is a vertically integrated real estate investment firm, which seeks to generate attractive risk-adjusted returns for its investors. 

Swift acquires and repositions office and industrial assets in select West Coast markets, identifying unique opportunities and executing well-defined business plans while providing real-time, day-to-day oversight for each investment. 

Since inception, Swift has owned and operated real estate valued in excess of $3 billion across more than eight million square feet. 

Christopher Peatross

Swift’s professionals bring experience encompassing all aspects of real estate investment and management, including acquisition, financing, leasing, disposition, construction management, property management and creative and marketing services. 

 Swift was founded in 2010 by Christopher Peatross.

For more information, please contact:

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

broadreachcp.com.

$33.5 Million financing for 360-unit multi-housing community in Chandler, AZ announced by HFF

Autumn Creek Apartments, Chandler, AZ

DENVER, CO, May 21, 2018 – HFF announces $33.5 million in financing for Autumn Creek Apartments, a 360-unit, multi-housing community in the Phoenix suburb of Chandler, Arizona.

Josh Simon

The HFF team worked on behalf of Western Wealth Capital, which acquired the property on behalf of the borrower, an MDC Realty Advisors USA, Inc.-managed fund, to secure the five-year, floating-rate loan through an international bank. 

The loan was used to acquire the property and includes a future-funding component to assist the borrower with their capital expenditure program. 

This transaction follows the recent announcement of financing HFF arranged on behalf of the partnership with the same lender for Greentree Place, a 256-unit apartment community less than 2.5 miles south of Autumn Creek Apartments.

Autumn Creek Apartments is located at 1320 N. McQueen Road approximately one mile east of N. Arizona Avenue and 23.5 miles southeast of the Phoenix CBD. 

 In addition, the property offers nearby access to a variety of major shopping, dining and entertainment amenities such as Downtown Chandler, Tumbleweed Park and San Marcos Golf Course.

Brad Miner

The two-story, garden-style community features fountains, expansive lakes, streams and resident amenities, including a swimming pool, basketball and volleyball courts, fitness center and business center. Autumn Creek Apartments is 95 percent occupied.

The HFF team representing the borrower included managing director Josh Simon and senior director Brad Miner.

Holliday GP Corp. ("HFF") is a commercial mortgage broker licensed with the Arizona Department of Financial Institutions, License Number CMB 0935500 and NMLS Number 1524298.

For more information, please contact:

 OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

 info@westernwealthcapital.com 

www.westernwealthcapital.com.

bminer@hfflp.com

Arbor Funds $21.4M Fannie Mae DUS® Deal in Houston, TX

Casa del Mar Apartments, Houston, TX   UNIONDALE, NY (May 21, 2018) – Arbor Realty Trust, Inc. (NYSE:ABR), a real estate investment trust and national direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets, recently funded a Fannie Mae DUS deal in Houston, TX. Brian Scharf Casa del Mar, a 354-unit apartment community received $21,477,000 for refinance cash out under a Fannie Mae DUS loan program. The deal was structured with a 7-6 ARM product on a 30-year amortization schedule. Brian Scharf of Arbor’s Uniondale office originated the loan. “This high leverage loan reflects a combination of the agency’s commitment in 2018 to win business, as well as Arbor’s ability to structure a loan that satisfied all of the borrower’s goals,” Scharf stated. Located off I-45 north of Downtown Houston, this pet-friendly community offers multiple one and two bedroom floor plans. Amenities include two swimming pools, spa, tennis court, laundry facilities, playground and clubhouse in a beautifully landscaped gated community.

For more information, please contact:

Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

Arbor Realty Trust, Inc.

333 Earle Ovington Blvd, Suite 900

Uniondale, NY 11553

800.ARBOR.10

arbor.com

Ryan Smyth Joins 29th Street Capital as Vice President Acquisitions Florida

Ryan Smyth

Orlando, FL  (May 21, 2018) – Ryan Smyth has joined 29th Street Capital (29SC) as Vice President of Acquisitions for Florida, with a focus on Central Florida.

Smyth is responsible for all facets of the privately-held real estate investment advisory firm’s multifamily acquisitions and asset management strategies in the state.

He will target opportunistic and value-add acquisitions with the goal of establishing a strong company presence in the market and add to the company’s existing portfolio, which spans coast to coast.

“I’m extremely excited to be joining 29th Street Capital to continue to grow the company’s presence in the state of Florida,” said Smyth. “Florida is a natural option for expansion, given the state’s explosive population and job growth. It’s an exciting time for the state.”

Prior to joining 29th Street Capital, Smyth was the Associate Director of Acquisitions for Venterra Realty. He was responsible for sourcing, analyzing and negotiating the purchase of multifamily assets in Central Florida. During his time at Venterra, he sourced the acquisitions of The Cobblestone at Eagle Harbor Apartments in Jacksonville and Citrus Run Apartments in Tampa.

For more information, please  contact:

Terri Thornton Partner, Thornton Communications Phone: 404-932-4347  Email: Terri@TerriThornton.com  Website: www.TerriThornton.com

www.29thstreetcapital.com.

HFF announces the $55.25 Million sale and financing of Lehigh Valley power center in Pennsylvania

MacArthur Commons, Lehigh Valley, Pennsylvania 
Photo by John Majoris

Chris Munley

PHILADELPHIA, PA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $55.25 million sale of and the $50.4 million acquisition financing for MacArthur Commons, a 371,886-square-foot, fully leased, grocery-anchored power center in the Lehigh Valley of Pennsylvania.

The HFF team marketed the property on behalf of the seller.  An affiliate of Abrams Realty & Development purchased the asset free and clear of existing debt. 

 Additionally, working on behalf of the new owner, the HFF team secured a floating-rate acquisition loan.  The buyer was able to obtain long-term lease extensions with the anchor tenants and gained approval to develop several outparcels, thus creating a highly competitive marketing process for the financing.

Jose Cruz

MacArthur Commons is fully leased to GIANT Food Stores along with multiple national anchors, including Burlington, Dick’s Sporting Goods, Big Lots and T.J.Maxx. 

Housed on 47 acres at 2631 MacArthur Road, the center is situated in the “go to” retail destination in the region and is accessible via Route 20 with more than 44,000 vehicles passing per day. 

 The center’s Lehigh Valley location places it approximately 65 miles north of Philadelphia and less than five miles north of Allentown.  More than 93,478 residents earning an average annual household income of $60,731 live within a three-mile radius of the center.

The HFF team representing the seller included managing director Chris Munley, director Michael DiCosimo and senior managing director Jose Cruz.

James Conley

The HFF debt placement team representing the borrower included managing director James Conley.

“Thanks to the HFF team of Chris Munley and James Conley for helping us to understand this fabulous value-add play and in facilitating a great working relationship with both the seller and the lender,” said Peter Abrams, founder of Abrams Realty & Development.  

“This redevelopment play is state of the art in the ever-evolving retail market in which we find ourselves.”

“MacArthur Commons is a top-tier shopping center and location within the Lehigh Valley,” Munley added.  “The offering generated significant interest from private and institutional buyers proving out the value proposition for this property.”

Abrams Realty & Development is a long-established, market-leading, real estate company specializing in commercial real estate in Philadelphia and commercial real estate in New Jersey.

For more information, please contact:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

http://abramsrealty-dev.com.

BKM Capital Partners Announces First Closing of its Second Institutional Fund With $160 Million in Equity Commitments

Nima Taghavi

            NEWPORT BEACH, CA  – BKM Capital Partners, an institutional fund manager with a niche focus on value-add, multi-tenant light industrial investments, has announced the first close of its second institutional fund, BKM Industrial Value Fund II, L.P., with $135 million in equity commitments as well as $25 million in co-investments.

           The firm also currently has an additional $100 million of soft circled equity commitments from European and U.S. institutional investors. 

            The fund is comprised of a mix of institutional investors including a U.S. College Endowment, U.S. State Pension Fund, a large U.S. Insurance Company, a German Trust, U.S. Fund of Funds, and a Canadian Family Office, according to Nima Taghavi, Chairman of the Board and Co-Founder of BKM Capital Partners.

Brian Malliet

            “Our first institutional fund, which closed in 2016 and is fully invested, has the same strategy as this second fund of acquiring value-add multi-tenant industrial assets throughout major metro markets in the Western U.S.,” says Taghavi.

“Fund I had a target net IRR of 15-percent, but is performing at a 19-percent net fund IRR. Additionally, we recently sold the first three assets in our Fund I, achieving gross IRRs on all three above 37-percent and multiples that ranged from 2.0-2.5.”

            According to BKM’s Co-Founder and CEO, Brian Malliet, the success demonstrated by these returns is a testament to BKM’s niche strategy, execution platform and the growing understanding and demand for light multi-tenant industrial properties across the U.S.

“We have an extremely strong pipeline of value-add investment opportunities, and this $160 million closing allows us to immediately begin deploying capital,” Malliet notes.

“By being strategic in our specific focus and operator execution platform, we will capitalize on the growing demand for properties that serve as ‘last mile’ delivery hubs for retailers and industrial users. This will maximize returns to our investors while we continue to fundraise over the course of the year.”

          

 For more information, please contact:

Jordan Kruk / Lexi Astfalk

Brower Group

(949) 955-7940

jkruk@brower-group.com

www.bkmcp.com.