Friday, April 4, 2008

MBA Cites Wachovia, Wells Fargo and Bank of America as Top U.S. Commercial/Multifamily Originators

WASHINGTON, DC-- Wachovia, Wells Fargo and Bank of America were the top commercial/multifamily originators in 2007, according to the Mortgage Bankers Association (MBA) 4th Annual Commercial/Multifamily Finance Firms Annual Originations Rankings.

Other originators in the top 10 include: Deutsche Bank Commercial Real Estate; Credit Suisse; Holliday Fenoglio Fowler, L.P.; Capmark Financial Group Inc.; CBREMelody; Goldman, Sachs & Co.; and KeyBank Real Estate Capital.

Five different companies topped the 11 lists reporting originations by investor groups:

Wachovia as the top originator for REITS, mortgage REITs, investments funds, Fannie Mae and conduits; Capmark Financial Group for Freddie Mac, FHA/Ginnie Mae, and specialty finance companies; Bank of America for commercial banks/savings institutions; Wells Fargo for life insurance companies and for other investors; TIAA-CREF for pension funds; and GE Real Estate for credit companies.

By dollar volume, the top three intermediaries in 2007 were Wells Fargo, Holliday Fenoglio Fowler, L.P., and CBREMelody. The top three lenders were Wachovia, Bank of America and Wells Fargo.

The MBA Annual Originations Rankings study is the only report of its kind that provides firm-specific dollar volumes and loan counts detailing the mortgage originations of 124 leading commercial/multifamily intermediaries and lenders.

Detailed tables present origination volumes in more than 140 categories, including by role (e.g., lender, intermediary), by investor group (e.g., conduit, commercial bank/thrift, life company, Fannie Mae, Freddie Mac, etc.), by property type (e.g., office, multifamily, retail, industrial, etc.), by financing structure type (first lien, mezzanine, other), by the location of the originating office, and by combinations of these categories.

A copy of the results is available through MBA's Online Store by visiting the following Web link: http://store.mortgagebankers.org/ProductDetail.aspx?product_code=EC6-300013-RP-I.

CONTACT:

Jason Vasquez
(202) 557-2950
jvasquez@mortgagebankers.org
Posted by Alex at 1:42 PM 0 comments
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Marcus & Millichap Capital Corp. Names Chad O’Connor Director of San Diego Office


SAN DIEGO, CA-– Marcus & Millichap Capital Corporation (MMCC), which sourced more than $1.5 billion in loans in 2007, has named Chad O’Connor (photo at right) director OF the firm’s San Diego office, according to William E. Hughes, senior vice president and managing director of MMCC.

“O’Connor joined the firm as an analyst in the mortgage intern program and was subsequently promoted to an associate,” comments Hughes. “O’Connor has a well-rounded perspective on the commercial real estate investment industry and specializes in arranging financing structures that bring value to his clients.”

O’Connor is responsible for overseeing loan originations for the San Diego office. In 2007, he achieved the distinction as the firm’s top loan originator, as well as being a recipient of the firm’s prestigious National Achievement Award.

O’Connor is a graduate of Michigan State University where he earned a bachelor’s degree in communications.

Marcus & Millichap Capital Corporation, based in Irvine, Calif., is a subsidiary of Encino, Calif.-based Marcus & Millichap Real Estate Services Company, the largest commercial real estate brokerage firm in the nation focusing exclusively on real estate investments.

Through its network of national and regional lenders, MMCC provides capital markets products for a wide variety of investment properties, including apartments, shopping centers, office buildings, industrial facilities, single-tenant net-lease properties, seniors housing, hotels/motels, manufactured home communities and self-storage facilities. Last year the firm sourced more than $1.5 billion of commercial real estate financing.

CONTACTS:
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/

Kathy Molitor
Marcus & Millichap Capital Corporation
(925) 953-1704
http://www.mmcapcorp.com/
Posted by Alex at 12:49 PM 0 comments
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Marcus & Millichap Capital Corp. Names Timothy Kinney Senior Director of Atlanta Office

ATLANTA, GA– Marcus & Millichap Capital Corporation (MMCC), which sourced more than $1.5 billion in loans in 2007, has named Timothy Kinney (photo at right) senior director of the firm’s Atlanta office, according to William E. Hughes, (photo at left) senior vice president and managing director of MMCC.


“Kinney joined the firm as a director in 2006,” comments Hughes. “His knowledge of the structured debt and equity products currently on the market will truly enhance the MMCC platform. His expertise in arranging financing for multi-family, retail, office, industrial and self-storage properties is exceptional.”

Kinney is responsible for overseeing capital market activities throughout the Southeast. In 2007, he was recognized as one of MMCC’s top five loan originators.

Kinney is a graduate of Michigan State University where he earned a bachelor’s degree in communications.

CONTACTS:

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/

Kathy Molitor
Marcus & Millichap Capital Corporation
www.mmCapCorp.com
(925) 953-1704

Posted by Alex at 12:27 PM 0 comments
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Arbor Closes $6,130,000 Fannie Mae DUS® Loan for Hamilton Square Apartments in Foxborough, MA


UNIONDALE, NY--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $6,130,000 loan under the Fannie Mae DUS® product line to acquire the 61-unit complex known as Hamilton Square Apartments (photo above) in Foxborough, MA.

The 5-year loan amortizes on a 30-year schedule and carries a note rate of 5.48 percent. *DUS and 3MaxExpress are registered marks of Fannie Mae .

The loan was originated by John Kelly, (photo at right) Director, in Arbor’s full-service Boston, MA lending office. “The loan amount included $300,000 for project upgrades that were identified by our client as part of their pre-acquisition strategy,” said Kelly. “We closed within the identified timeline and have already begun processing our next transaction for this excellent sponsorship team.”

CONTACT:
Arbor Commercial Mortgage, LLC
Arbor Realty Trust, Inc.
333 Earle Ovington Blvd, Suite 900
Uniondale, NY 11553
Ingrid Principe
Tel: (516) 506-4298






Posted by Alex at 12:00 PM 0 comments
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Grubb & Ellis Realty Investors Acquires Jacksonville Medical Plaza in Jacksonville, FL



SANTA ANA, CA/PRNewswire/ -- Grubb & Ellis Realty Investors, LLC has acquired Jacksonville Medical Plaza (photo above) in Jacksonville, Fla. on behalf of tenant-in-common investors.

Jacksonville Medical Plaza consists of two multi-tenant medical office buildings comprised of approximately 132,000 square feet situated on more than 11 acres. Built in 1974 and renovated in 1995, the property is adjacent to Memorial Hospital Jacksonville, one of the city's major hospitals, and offers tenants and visitors ample parking with nearly 600 spaces, resulting in a parking ratio of 4.5 spaces per 1,000 square feet.


Jacksonville Medical Plaza is currently 97 percent leased to multiple tenants, including Memorial Hospital Jacksonville and Brooks Rehabilitation Hospital.


"This asset's proximity to Memorial Hospital Jacksonville and stable rent roll make it an ideal investment for tenant-in-common investors," explained Grubb & Ellis Realty Investors President and Chief Investment Officer Jeff Hanson. (photo at right) "Additionally, we believe quality medical office space is generally an attractive option for real estate investment, considering the changing demographics of the U.S. population and the resulting growth in demand for healthcare."


Memorial Hospital Jacksonville is a 353-bed acute care hospital owned by Hospital Corporation of America. The hospital currently employs a staff of more than 1,900 and approximately 700 physicians in 15 medical specialties.Jacksonville is the largest city in the state of Florida, and the largest city in terms of land area in the contiguous United States.


The city is the state's leading transportation and distribution hub. The strength of Jacksonville's economy lies in its broad diversification and is balanced among distribution, financial services, biomedical technology, consumer goods and other industries.



First Call Analyst: FCMN Contact: Source: Grubb & Ellis Realty Investors, LLC



CONTACT:

Julia McCartney of Grubb & Ellis Realty Investors, LLC,
+1-714-667-8252, ext. 230,
Posted by Alex at 11:37 AM 0 comments
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Grubb & Ellis Realty Investors Acquires Six Forks Station in Raleigh, NC



SANTA ANA, CA--PRNewswire-FirstCall/ -- Grubb & Ellis Realty Investors, LLC has acquired Six Forks Station (photo above) in Raleigh, N.C., on behalf of tenant-in-common investors. Located at 8601 Olde Station Drive, Six Forks Station is a 321-unit garden-style multifamily community situated on more than 32 acres.





The property consists of 39 apartment buildings and a separate structure housing a clubhouse and leasing center. The unit mix consists of 88 one-, 161 two- and 72 three-bedroom apartments. The net rentable area of the property is nearly 360,000 square feet, with an average unit size of 1,120 square feet. Six Forks Station is currently 96 percent occupied.



"The consistent growth of the Raleigh-Durham area, as well as the high tenancy and stable cash flow of Six Forks Station makes it an attractive opportunity for our investors," said Grubb & Ellis Realty Investors President and Chief Investment Officer Jeff Hanson (photo top right)



Built in three phases between 1985 and 1997, Six Forks Station offers tenants a healthy parking supply with 656 spaces, which results in a 2.04 space per unit parking ratio.Community amenities include two swimming pools, playgrounds, multi-purpose sports courts, a fitness center and an onsite laundry facility.




Individual apartment units feature fireplaces, dishwashers, garden tubs, walk-in closets, ceiling fans and patios and balconies in select units.Raleigh is home to a part of North Carolina's Research Triangle Park, the largest research park in the world and one of the leading centers for high-technology research and development in the country.


Raleigh and the Research Triangle Park area consistently rank among the nation's best local economies.Numerous high-technology and medical corporations have been attracted to the Raleigh-Durham area due to the outstanding educational and research facilities at area universities, including North Carolina State University, home to the nation's tenth largest school of engineering, Duke University and the University of North Carolina at Chapel Hill.



According to the United States Census Bureau, the Greater Raleigh-Durham area has experienced a population growth of approximately 68 percent since 1990, and is expected to grow more than 12 percent by 2011. Unemployment remains below the national average, just four percent as of February 2008.


First Call Analyst: FCMN Contact: Source: Grubb & Ellis Realty Investors, LLC



CONTACT:


Julia McCartney of Grubb & Ellis Realty Investors, LLC,

+1-714-667-8252, ext. 230,


Posted by Alex at 10:37 AM 0 comments
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Engler Financial Posts Exclusive Apartment Offering: AMLI Peachtree City Portfolio in Peachtree City, GA




ATLANTA, GA--Engler Financial Group, LLC is pleased to announce that it has been selected as the exclusive sales agent for two Class "A" properties, AMLI at Kedron Village (above photo) and AMLI at Peachtree City (photo at right). Both properties are located outside Atlanta, Georgia in Peachtree City, one of the nation’s most successful master planned communities.

AMLI at Kedron Village and AMLI at Peachtree City can be purchased as a portfolio or individually. Both properties are located in the heart of Peachtree City, Georgia, a 15,000+ acre master planned community.

Founded in 1959, Peachtree City has differentiated itself by providing gathering places, protecting natural areas, and creating a blend of live, work, and recreational opportunities to attract affluent residents. Peachtree City boasts Georgia's top-ranked public schools and the highest relocation rate of any city in Georgia.

The city offers more than 125 neighborhoods in five distinct “villages” and is very restrictive on new development. New construction is tightly controlled in Peachtree City and a moratorium was placed on all new high-density residential development in 1999. The last apartment community built in Peachtree city was in 2002, and no new developments are currently planned or under construction.
Both AMLI properties are located in the Lake Kedron Village of Peachtree City, which features several high-end neighborhoods with home prices well over $1 million.The city's livable environment is enhanced by over ninety miles of golf cart and walking trails connecting neighborhoods to attractions such as The Fredrick Brown, Jr. Amphitheatre, the Peachtree City Tennis Center, and three 18-hole golf courses.

Both properties have enjoyed excellent rent growth and have consistently been top performers within AMLI Residential’s national portfolio.
Property highlights include:
AMLI at Kedron Village is an upscale 216 unit Class “A” apartment community developed by AMLI Residential in 2001, and is located at the corner of Kedron Drive and Highway 74 - Peachtree City's main thoroughfare.
AMLI at Kedron Village benefits from an extremely low site density of 10 units per-acre, which offers residents abundant green space and scenic views.

The community also includes 36 spacious and desirable townhouse units with direct-access two-car garages. The potential exists to possibly spin off the townhouse units at AMLI at Kedron Village for sale prices ranging from $275,000 to $350,000 or more.

AMLI at Peachtree Village is an upscale 312 unit Class “A” apartment community developed by AMLI Residential in 1998, and is located at the corner of North Peachtree Parkway and Georgian Park Road.
The property benefits from its outstanding location with high barriers to entry and its large proportion of units (20%) with desirable attached garages.

In addition, the above average cost of single-family homes and the lack of new inventory in the market has created “value add” potential at AMLI at Peachtree City. Units with upgraded kitchens and flooring at AMLI at Peachtree City's sister property (AMLI at Kedron Village) command rent premiums of up to $100 per-month.
Please follow the link below to view the asset teaser for AMLI at Kedron Village and AMLI at Peachtree City. If you have an interest in pursuing these outstanding investment opportunities, please execute an electronic Confidentiality Agreement on Peracon.


To schedule tours, please contact Greg Engler, Pat Jones or Kris Mikkelsen. We look forward to working with you on this exciting and very unique investment opportunity.

CONTACTS:

Greg Engler
CEO/President
678/992-2000, Ext. 1

Pat Jones
Senior Vice President
678/992-2000, ext. 2

Kris Mikkelsen
Senior Associate
(678) 992-2000, ext 4
Posted by Alex at 9:57 AM 0 comments
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