HFF Secures Refinancing for Doubletree Hotel Pittsburgh Airport

PITTSBURGH, PA – The Pittsburgh office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged a refinancing for the Doubletree Hotel Pittsburgh Airport in Pittsburgh Pennsylvania. (top photo)

Working exclusively on behalf of Millcraft Industries, HFF managing director Mark Popovich placed the loan with Lydian Trust Company.

The Doubletree Hotel Pittsburgh Airport is located at 8402 University Boulevard approximately six miles from the Pittsburgh International Airport and close to downtown. The property has 135 guest rooms and 14,000 square feet of meeting and banquet space. Hotel amenities include a 24-hour complimentary airport shuttle, business center, indoor heated pool, fitness center and Jacksons Restaurant-Rotisserie-Bar.

Millcraft Industries Real Estate Division is a multi-million dollar operation that has participated

and directed a variety of real estate ventures including industrial properties, commercial office buildings, golf course communities and residential developments.

Contacts:

Laurie Fish McDowell
Associate Director HFF

One Post Office Square, Suite 3500

Boston, MA 02109
tel 617.338.0990

fax 617.338.2150

http://www.hfflp.com/

Mark Popovich

Hff Managing Director

412 281 8714

mpopovich@hfflp.com
lmcdowell@hfflp.com

Arbor Closes $3,500,000 Fannie Mae DUS® Loan on Urbane on Washington in Royal Oak, MI

UNIONDALE, NY--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $3,500,000 loan under the Fannie Mae DUS® product line to refinance the 39-unit complex known as Urbane on Washington in Royal Oak, MI.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.92 percent.

The loan was originated by Michael Jehle, (top left photo) Midwest Director, in Arbor’s full-service Bloomfield Hills, MI lending office. “The owners of this property had spent a considerable amount of money renovating and re-leasing this building after acquisition,” said Jehle. “Once completed, Arbor was able to take out their short-term floating rate debt with a very attractive long-term fixed rate, which was exactly what they wanted.”

DUS and 3MaxExpress are registered marks of Fannie Mae

Contact
Arbor Commercial Mortgage LLC
Arbor Realty Trust, Inc.

333 Earle Ovington Blvd, Suite 900

Uniondale, NY 11553

http://www.arbor.com/

Ingrid Principe

Tel: (516) 506-4298

Arbor Closes 1,180,000 Fannie Mae 3MaxExpressÒ Loan for 485 Cumberland Avenue in Portland, ME

UNIONDALE, NY--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,180,000 loan under the Fannie Mae 3MaxExpressÒ product line to refinance the 25-unit complex known as 485 Cumberland Avenue in Portland, ME.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.18 percent.

The loan was originated by John Edwards Director, in Arbor’s full-service Boston, MA lending office. “This financing opportunity represents the second loan we closed with this client,” said Edwards. “Once again, this is an example of the importance we place on repeat business and we look forward to continuing our business relationship with this client.”

Arbor Commercial Funding LLC

Arbor Commercial Mortgage, LLC, and Arbor Realty Trust, Inc., have extensive experience in mortgage origination, servicing and securitization and have built a reputation for service, quality and flexibility. Arbor’s seasoned management team specializes in debt and equity financing for multifamily, office, retail, hotel and various other commercial real estate properties. The company offers a broad array of financing options including Fannie Mae DUS®, FHA, CMBS, Bridge and Mezzanine products. Currently, Arbor services approximately $3 billion in loans. Arbor is a rated Standard & Poor’s third-party commercial loan and special servicer.

Arbor also manages Arbor Realty Trust, Inc., a real estate investment trust, (REIT), formed to invest in real estate-related bridge and mezzanine loans, preferred equity investments and in limited cases, discounted mortgage notes and other real estate related assets. Arbor is headquartered in Uniondale, NY, and has full-service lending offices throughout the United States.

DUS and 3MaxExpress are registered marks of Fannie Mae

Contact:

Arbor Commercial Mortgage, LLC

Arbor Realty Trust, Inc.

333 Earle Ovington Blvd, Suite 900

Uniondale, NY 11553

http://www.arbor.com/

Ingrid Principe

Tel: (516) 506-4298

Marcus & Millichap Sells Two Hotels in San Diego for $23.9M

SAN DIEGO, CA--Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of the Quality Suites and Holiday Inn Express, (photo above) totaling 202 rooms, in San Diego. The sales price of $23.8 million represents $117,821 per room.

Ben Tashakorian, a senior associate in Marcus & Millichap’s San Diego office, and Alvin Mansour, (photo at right) a senior director of the firm’s National Retail Group in San Diego, represented the seller, Mira Mesa Hotels LLC, and the buyer, JCK Hospitality LLC.

“This new owner has acquired two top-tier hotels centrally located off Interstate 15 in beautiful Mira Mesa, an exclusive neighborhood within San Diego,” says Mansour.

Located at 9880-9888 Mira Mesa Blvd., the hotels are situated directly adjacent from each other near the heavily populated business districts of Miramar, Scripps Ranch, Sorrento Mesa and Poway. The hotels are just 1.7 miles from the Miramar Air Station, a refuge for several traveling service men and their families, and 17.8 miles from San Diego’s International Airport.
The hotels boast a 2,500-square foot banquet hall, 1,500-square foot meeting room, swimming pool, whirlpool and workout room.

Contact:
Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
http://www.marcusmillichap.com/