Working on behalf of W. P. Carey & Co. LLC’s non-traded REIT affiliate, CPA®:17 – Global, HFF senior managing director Paul Stasaitis (top right photo) placed the seven-year, fixed-rate acquisition loan with Prudential Mortgage Capital Company.
HFF managing director Hermen Rodriguez, (top left photo) executive managing director Manny de Zarraga and director Ike Ojala (middle right photo) were the brokers in the sale of the property from Brookfield Asset Management to the W. P. Carey affiliate.
This location is adjacent to Tampa International Airport and close to Interstate 275, State Route 60 and Veterans Expressway.
The four-story properties are fully leased to JP Morgan Chase on a long-term basis. Fountain Square I is a 135,666-square-foot building with a 708-space garage and a retail bank branch. Fountain Square III, completed in 2000, has 176,150 square feet plus a 912-space garage, a cafeteria, training rooms and a daycare facility.
Contacts:
Paul Stasaitis, HFF Senior Managing Director, (305) 448-1333, pstasaitis@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852 3500,
krmurphy@hfflp.com
HFF arranges $10.3M financing for three Charlotte, NC office buildings
HFF senior managing director Susan Hill (middle left photo) worked exclusively on behalf of the borrower, BRI 1828 Arrowpoint LLC, to secure the fixed-rate loan through Unum Life Insurance Company of America.
Loan proceeds were used to acquire the properties. BRI 1828 Arrowpoint LLC is a Florida-based investment management company.
Arrowpoint I, II and III are located at 9140 Arrowpoint Boulevard close to the Interstate 77 and 485 interchange southwest of downtown in the Arrowpoint Center Office Park.
Contacts:
Susan L. Hill, HFF Senior Managing Director, (713) 852-3500, shill@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com
HFF closes sale of and arranges financing for Atrium at Park Ten in Houston’s Energy Corridor
The HFF investment sales team was led by senior managing director Dan Miller (middle right photo) and associate director Martin Hogan (middle left photo), who marketed the property on behalf of the seller, KBS Realty Advisors. Beacon Investment purchased Atrium at Park Ten for an undisclosed amount.
Atrium at Park Ten is situated on six acres at 16340 Park Ten Place within the Park Ten office center in Houston’s Energy Corridor, west of downtown.
The property has undergone nearly $2 million in capital improvements in the past eight years and is 88% leased to tenants including RSC Equipment Rental, Dockwise USA and Trendmaker Homes.
Atrium at Park Ten provides a perfect alternative to tenants seeking a high-quality, well-maintained office environment at an attractive price relative to Class A rental rates,” said Miller.
KBS Realty Advisors, an SEC-registered investment advisor, and its affiliate, KBS Capital Advisors, are one of the nation's largest buyers of commercial real estate and structured debt investments, having consummated more than $16.5 billion in transactional volume.
Beacon Investment LLC is a privately-owned real estate investment management firm based in Miami.
Contacts:
H. Dan Miller, CCIM, SIOR,HFF Senior Managing Director (713) 852-3500dmiller@hfflp.com
Susan L. Hill,HFF Senior Managing Director (713) 852-3500 shill@hfflp.com
Kristen M. Murphy,HFF Associate Director, Marketing (713) 852-3500 krmurphy@hfflp.com
HFF closes sale of and arranges acquisition financing for REO multi-housing community in Houston
HOUSTON, TX – The Houston and Dallas offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have closed the sale of and arranged financing for Broadstone Walker Commons, a Class A, REO multi-housing community in League City, Texas.
HFF senior managing directors Craig LaFollette, Todd Stewart and Todd Marix, director Tre Banks and associate director Chris Curry led the investment sales team on behalf of the seller, a bank participation with Bank of America as the agent bank.
The loan will be serviced through HFF’s Freddie Mac Program Plus® Seller/Servicer program.
Situated on nearly 20 acres, Broadstone Walker Commons is located at 1751 West Walker Street close to Interstate 45 (Gulf Freeway), southeast of downtown Houston in League City.
The 91% leased property was completed in 2008 and has 352 units averaging 928 square feet each. Community amenities include a resort-style pool and clubhouse with business and fitness center.
Based in Vancouver, British Columbia, Sunstone Realty Advisors invests in opportunistic properties in Canada and the United States.
Contacts:
G. Craig LaFollette, HFF Senior Managing Director, (713) 852-3500, clafollette@hfflp.com
John S. Brownlee, HFF Senior Managing Director, (214) 265-0880, jbrownlee@hfflp.com
Kristen M. Murphy,HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com
HFF closes sale of 12-property student housing portfolio in Tallahassee, FL
HFF director Brian Kelly (lower right photo) marketed the portfolio on behalf of the special servicer and receiver, LNR Partners, Inc.
The properties were purchased by four buyers: Shady Lane Holdings, The Cottages of Tallahassee, LLC, AMCO Properties and Mesco, Ltd.
Individual property breakouts are listed below:
Buyer Properties # of Units/# of Beds
Shady Lane Holdings Jennings Place Cottages 6 Units/18 Beds
Cottages of Magnolia 38 Units/152 Beds
University Gardens II 20 Units/80 Beds
Cottages of Harrison 4 Units/16 Beds
The Cottages of Tallahassee, LLC Cumberland Forest 28 Units/112 Beds
Cottages of Rumba 14 Units/24 Beds
Cottages of Glenda 12 Units/20 Beds
AMCO Properties, LLC 1111 On High 136 Units/344 Beds
Villa Casa Cortez 138 Units/254 Beds
Mesco, Ltd. Osceola Village Hall 114 Units/334 Beds
Osceola Village Suites 46 Units/184 Beds
Sweet Bay Club 41 Units/164 Beds
“This portfolio represented a tremendous opportunity for income and NOI growth as all the properties were performing below market in terms of rent and occupancy rates,” said Kelly.
LNR Property Corporation is a diversified real estate, investment, finance and management company.
Contacts:
Brian J. Kelly, HFF Director, (317) 630-3191, bkelly@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com
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