Cambridge Provides $12.5M FHA-Insured HUD Mortgage Loan to Refinance The Ponds in Linconshire, IL

CHICAGO, IL--Cambridge Realty Capital Companies reports closing a $12.5 million FHA-insured first mortgage loan to refinance The Ponds, (top left photo) a 116-bed assisted living facility in Lincolnshire, IL.

Cambridge Chairman Jeffrey A. Davis (middle right photo)  said the loan was originated by mortgage broker and consultant Rick Lynn of RML Financial for the borrower, an Illinois limited liability company.

 The fully amortized, 33-year term loan was underwritten by Cambridge Realty Capital Ltd. of Illinois using HUD’s Section 232 pursuant to Section 223(f) funding program.

Davis said The Ponds is part of an upscale continuing care community located on a wooded 20-acre site in Lincolnshire, a northern Chicago suburb. The complex also includes The Wealshire, a 144-bed skilled nursing home facility.

Davis said Cambridge and Northbrook-based RML Financial also teamed to arrange permanent HUD financing for The Wealshire property in December 2007.

The Ponds loan application was processed using the new Lean management concept that has introduced sweeping changes in the way HUD loans are processed and approved. HUD’s goal is to process loans on a timetable that more closely resembles the timing for conventional loans, he noted.

As part of the change, responsibility for processing HUD loans has shifted from HUD field offices to FHA’s Office of Insured Health Care Facilities (OIHCF) in Washington, D.C.

In place today is a single source for program and policy development, and a more consistent and user-friendly platform for borrowers and lenders, Davis said.

For additional information, contact Cambridge at (312) 357-1601 or via e-mail to info@cambridgecap.com.

Contact:  Evan Washington, Phone: (312) 521-7603, Fax: (312) 357-1611, E-Mail:, ew@cambridgecap.com, Twitter: http://twitter.com/CambridgeC

Industrial Team at Southern Commercial Completes 25,440-SF New Lease in Orlando, FL

ORLANDO, FL-- Principals Tom McFadden, SIOR and William “Bo” Bradford, CCIM, SIOR of Southern Commercial Real Estate Advisors completed a 25,440 square foot new lease at 8420 Boggy Creek Road, Orlando, Florida. McFadden and Bradford negotiated the three year lease, representing the Landlord, DCT Industrial.

The tenant, Batesville Caskets was represented by Ray Romano with CBRE.

Media Contact: Celeste MacKenzie Southern Commercial Real Estate Advisors, 321-281-8503 20 N. Orange Avenue, Suite 605, Orlando, FL 32801, cmackenzie@southerncommercialre.com

Arbor Closes Multifamily Loans in Oregon, Indianapolis and California

Two Fannie Mae DUS® Loans Totaling $6,991,200 Closed at Springfield, OR

UNIONDALE,  NY – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of two (2) loans totaling $6,991,200 under the Fannie Mae DUS® product line. These loans include:

Centennial Apartments, Springfield, OR – A 118-unit complex in the amount of $3,500,000 funded under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.54 percent.

Chalet Apartments, Springfield, OR – An 83-unit complex in the amount of $3,491,200 funded under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.54 percent.

The loans were originated by Yogesh Joshi, (top right photo)  Director, in Arbor’s full-service Woodland Hills, CA lending office.

 “Arbor successfully refinanced the existing Fannie Mae loans for a highly experienced and repeat Fannie Mae borrower,” said Joshi. “Both properties are well-maintained with stable operating histories.”

Arbor Closes $600,000 Fannie Mae DUS® Coterminous Supplemental Loan Closed for Mayfield Green Cooperative in Indianapolis

Uniondale, NY (January 19, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $600,000 loan under the Fannie Mae DUS® Coterminous Supplemental Loan product line for the 344-unit complex known as Mayfield Green Cooperative in Indianapolis, IN.

The 26.5-year loan amortizes on a 26.5-year schedule and carries a note rate of 7.17 percent.

The loan was originated by Michael Jehle,  (middle right photo) Midwest Regional Director, in Arbor’s full-service Bloomfield Hills, MI lending office.

“The members of Mayfield Green Cooperative were interested in acquiring funds for capital improvements in the form of a second mortgage on top of our original loan made to them in October 2005, and Fannie Mae’s Supplemental Loan Program worked perfectly for their needs,” said Jehle.

“This loan was structured to amortize in full through 2035, exactly when their first mortgage will also amortize to zero.”

Two Fannie Mae DUS® Loans Totaling $4M Closed in El Cajon, CA

UNIONDALE, , NY (Jan.20, 2010) – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of two (2) loans totaling $4,000,000 under the Fannie Mae DUS® Small Loan product line. These loans include:

Ballantyne Villas, El Cajon, CA – A 31-unit complex in the amount of $2,000,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.41 percent.

Portofino Apartments, El Cajon, CA – A 40-unit complex in the amount of $2,000,000 funded under the Fannie Mae DUS® Small Loan product line. The

10-year loan amortizes on a 30-year schedule and carries a note rate of 5.41 percent.

The loans were originated by Greg Gillam, (bottom right photo)  Director, in Arbor’s full-service Manhattan Beach, CA lending office.

 “These transactions represent Arbor’s continued strong ability to close loans via our Fannie Mae Small Loan program,” said Gillam. “We were pleased to provide this new client with long-term debt at a low interest rate that allowed them to pay off their existing interim bank financing.”

Contact:  Ingrid Principe, Marketing, Arbor Commercial Mortgage, 333 Earle Ovington Blvd., Suite 900, Uniondale, NY 11553, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/, Follow us on Twitter @ arbor1

HFF closes sale of Santa Fe, NM mall

 DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.)  has closed the sale of DeVargas Center, (centered photo below) a 249,671-square-foot mall in Santa Fe, New Mexico.

HFF senior managing directors Doug Hazelbaker, Jim Batjer (middle  right photo) and Chris Turner and managing director Ryan Shore led the investment sales team exclusively on behalf of the seller, Weingarten Realty Investors. Fidelis Realty Partners, Ltd. purchased the property for an undisclosed price.

DeVargas Center is located along Highway 84/St. Francis Street, less than one mile northwest of downtown Santa Fe as well as the Santa Fe Plaza. The property is 95% leased to tenants including Sunflower Farmers Market, Office Depot, Ross Dress for Less, Hastings and CVS Pharmacy.

“DeVargas Center’s exceptional location, annual tourist population and affluent trade area provide the foundation for strong tenant performance resulting in sustained long-term value appreciation,” said Hazelbaker.

As one of the largest real estate investment trusts listed on the New York Stock Exchange, Weingarten Realty (NYSE:WRI) is celebrating its 60th anniversary as a commercial real estate owner, manager and developer, formed in 1948.

 Focused on delivering solid returns to shareholders, Weingarten is actively developing, acquiring, and intensively managing properties in 23 states that span the United States from coast-to-coast. To learn more about the company’s operations and growth strategies, please visit www.weingarten.com.

Contacts:
Doug Hazelbaker, HFF Senior Managing Directo, r (214) 265-0880,  dhazelbaker@hfflp.com
Jim Batjer, HFF Senior Managing Director, (214) 265-0880, jbatjer@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing , (713) 852-3500, krmurphy@hfflp.com

HFF closes sale of Albuquerque, NM retail power center

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of The Plaza at Cottonwood,  (top left photo) an 84,322-square-foot retail power center in Albuquerque, New Mexico.

The HFF investment sales team was led by senior managing directors Doug Hazelbaker and Jim Batjer (middle right photo)  and managing director Ryan Shore, who marketed the property exclusively on behalf of the seller, Weingarten Realty Investors.

North American Development Group purchased The Plaza at Cottonwood for an undisclosed price. HFF also represented Weingarten in the November 2009 sale of DeVargas Center and Wolflin Village, two retail properties in Santa Fe, New Mexico and Amarillo, Texas.

The Plaza at Cottonwood is located across from the Cottonwood Mall (bottom left photo)  along Coors Boulevard Bypass and Seven Bar Loop Road in the “West Mesa” area of Albuquerque. Completed in 1999, the property is fully occupied by tenants including Staples, PetSmart, Party City, Avenue and Men’s Warehouse.

“The Plaza at Cottonwood was well-received by the investment community and specifically addressed the investment strategy of the buyer. North American Development Group has a high-quality team that reacted quickly and performed well,” said Hazelbaker.

North American Development Group is one of North America’s leading vertically integrated enterprises focusing exclusively in the shopping center segment of the real estate industry.

Presently, NADG is acquiring both large format and neighborhood community retail centers throughout select U.S. markets. In the United States, NADG has offices in Palm Beach Gardens, Nashville, Dallas, Denver, Scottsdale (Phoenix) and Newport Beach (California). In Canada, offices are located in Toronto, Edmonton, Montreal and Halifax. www.nadg.com.

To learn more about the company’s operations and growth strategies, please visit http://www.weingarten.com/.

Contacts:
Doug Hazelbaker, HFF Senior Managing Director,  (214) 265-0880, dhazelbaker@hfflp.com
 Jim Batjer, HFF Senior Managing Directo, r (214) 265-0880,  jbatjer@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF closes sale of Woodlake Crossing in San Antonio, TX

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of Woodlake Crossing,  (bottom right photo)a newly constructed, 160,000-square-foot shopping center in San Antonio, Texas.

The HFF investment sales team was led by senior managing director Doug Hazelbaker (top right photo)  and managing director Ryan Shore  (middle left photo) who represented the seller, David Berndt Interest LTD. Inland American, an entity of The Inland Real Estate Group of Companies, purchased the property for an undisclosed price.

Construction on Woodlake Crossing was initiated in January 2008 and completed in 2009. At the time of closing, the property was in the final phases of leasing and is currently 81% occupied. Anchor tenants include Best Buy, Ross Dress for Less, Office Max and Petco. The property is shadowed-anchored by a separately-owned Target, and is situated at the southwest corner of FM 78 and Woodlake Parkway in northeast San Antonio.

“This transaction was very unique as the property is in its final phase of lease-up and the acquisition involved a new loan with BBVA Compass – who also happened to be the construction lender. The buyer, seller and lender all worked very hard to achieve this year-end closing,” said Hazelbaker.

David Berndt Interest LTD, founded in 1998, is headquartered in Irving, Texas. In the year 2000, the company became a preferred developer for Target Corporation in Central Texas and has developed in excess of five million square feet of shopping centers since the company’s inception.

Inland American Real Estate Trust, Inc. focuses on acquiring and developing a diversified portfolio of commercial real estate including retail, multi-family, industrial, lodging, office and student housing properties, located in the United States and Canada.

The company also invests in joint ventures, development projects, real estate loans and marketable securities, and selectively acquires REITs and other real estate operating companies.

 As of September 30, 2009, Inland American owned, directly or indirectly through joint ventures in which it has a controlling interest, 946 properties, representing approximately 43 million square feet of retail, industrial and office properties, 8,544 multi-family units and 15,125 lodging rooms.

 Inland American is one of five REITs that are, or have been, sponsored by affiliates of The Inland Real Estate Group of Companies, Inc. For further information regarding Inland American, please refer to the company website at www.inland-american.com.

Contacts:

Doug Hazelbaker, HFF Senior Managing Director, (214) 265-0880, dhazelbaker@hfflp.com
Ryan Shore, HFF Managing Director, (214) 265-0880, rshore@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com