HFF arranges $85M acquisition financing for Lantana Media Campus in Santa Monica, CA

HOUSTON, TX – The Houston and Los Angeles offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have arranged $85 million in financing for the Lantana Media Campus,  (top left photo) a 462,429-square-foot Class A office campus in Santa Monica, California.

HFF associate director Colby Mueck, managing director Mark Wintner and executive managing director Scott Galloway worked exclusively on behalf of the borrower, The Lionstone Group, to secure the fixed-rate financing through Cornerstone Real Estate Advisers, based in Hartford, Connecticut.

Houston-based Lionstone acquired the property from Maguire REIT with cash in December 2009 and closed on permanent financing in February 2010.

The property consists of four of the five buildings within the Lantana Media Campus including the 203,102-square foot Center Building, the 62,087-square-foot West Building, the 65,998-square-foot IMAX Building and the 131,242-square-foot South Building.

Contacts:

M. Colby Mueck, HFF Associate Director, (713) 852-3500, cmueck@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF completes $105.4M  sale of two small-balance commercial real estate loan pools

CHICAGO, IL –HFF (Holliday Fenoglio Fowler, L.P.) has  completed the sale of two small-balance commercial real estate loan pools totaling $105.4 million on behalf of a special servicer and a money-center bank.

HFF managing director Bill Mitchell (middle  left photo)  and senior managing director Stuart Salins in Chicago represented the sellers in the transaction.

The two portfolios were marketed separately and include 95 loans in 25 states. Rather than offering and then selling the loans to investors on a “bulk” or portfolio basis, which is typical in the industry for such type of loans, HFF instead was able to tap into its investment sales database and target local, strategic buyers willing to aggressively bid on individual assets.

 In total, more than 600 confidentiality agreements were executed. The assets offered were sold in 26 different transactions to 18 different local and regional buyers.

“In all, HFF’s unique approach netted 20 to 25 percent more in sales proceeds with fewer kick-out than had HFF sold the loans in aggregate to traditional large-portfolio bidders,” said Mitchell.

Contacts:
William G. Mitchell, HFF Managing Director, (312) 980-3607, wmitchell@hfflp.com
Stuart M. Salins, HFF Senior Managing Director, (312) 528-3678, ssalins@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com


HFF secures $3.3M acquisition financing for suburban Portland, OR multi-housing community

PORTLAND, OR – The Portland office of HFF (Holliday Fenoglio Fowler, L.P.) has secured a $3.3 million financing for Willow Creek, a 77-unit multi-housing community in Beaverton, Oregon.

Working on behalf of the borrower, HFF associate director Tom Wilson placed the 10-year, 5.77% fixed-rate loan with HFF’s correspondent Fannie Mae DUS Lender, M&T Realty Capital Corporation. Loan proceeds are being used to acquire the property for a purchase price of $4.8 million.

Willow Creek is located at 903 SW 185th Avenue near the intersection of SW Baseline Road and SW 185th Avenue with easy access to the MAX Light Rail Blue Line in Beaverton, approximately 10 miles west of downtown Portland. Completed in 1990, the 90% leased property has two-bedroom/two-bath units totaling 985 square feet each.

“Willow Creek represents one of the first Portland metro multi-housing acquisitions in 2010. The transaction reflects a rare opportunity to acquire a Class B asset at an attractive basis coupled with investment upside in a market with limited acquisition volume,” said Wilson.

Contacts:

Thomas F. Wilson ,HFF Associate Director, (503) 224-0444, twilson@hfflp.com
 Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

Arbor Closes 2 Fannie Mae DUS® Small Loans Totaling $3.5M in Massachusetts and Connecticut

Pyramid Apartments in Hyde Park, MA Receives $1.9M

UNIONDALE, NY (Mar. 10, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,400,000 loan under the Fannie Mae DUS® Small Loan product line for the 16-unit complex known as Pyramid Apartments in Hyde Park, MA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.98 percent.

The loan was originated by John Kelly, (top right photo)  Vice President, in Arbor’s full-service Boston, MA lending office. “Our client needed a commitment to close within 30 days of executing an application, and we met this timeline with time to spare,” said Kelly. “Arbor’s platform continues to allow for small loans to be processed efficiently and for borrowers to take advantage of excellent loan terms. We look forward to future business with this client.”

Sunny Knoll Apartments in Seymour, CT Obtains $1.615M

UNIONDALE,  NY (Mar.10, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,615,000 loan under the Fannie Mae DUS® product line for the 43-unit complex known as Sunny Knoll Apartments (middle left photo) in Seymour, CT.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.15 percent.

The loan was originated by John Kelly, (top right photo)  Vice President, in Arbor’s full-service Boston, MA lending office. “Arbor was pleased to finance this asset that has been family-owned for a generation,” said Kelly. “The refinance allowed for the client to execute a capital improvement plan for continued property enhancement. We look forward to our next opportunity to work with this well-positioned ownership group.”

Contact:  Ingrid Principe, iprincipe@arbor.com

Grubb & Ellis Healthcare REIT II Acquires Lacombe Medical Office Building Near New Orleans

NEW ORLEANS (Mar.  10, 2010) – Grubb & Ellis Healthcare REIT II, Inc. today announced the acquisition of Lacombe Medical Office Building, (top left photo)  an approximately 34,000-square-foot, multi-tenant medical facility in the New Orleans suburb of Lacombe. The acquisition closed on March 5, 2010.

Located at 64030 Highway 434, Lacombe Medical Office Building is on the campus of, and physically connected to, Louisiana Medical Center and Heart Hospital, (middle right photo)  named one of the nation's 100 Top Hospitals® for cardiovascular care by Thomson Reuters in 2008. In 2009, the hospital completed a $40 million, 120-bed, 109,000-square-foot patient tower, which more than tripled its patient capacity.

“As a fully leased facility located on the campus of a thriving medical center, Lacombe Medical Office Building is an ideal acquisition for Grubb & Ellis Healthcare REIT II,” said Danny Prosky, president and chief operating officer. “Additionally, this off-market acquisition is attractively priced and will be immediately accretive to our bottom line.”
 

Lacombe Medical Office Building is 100 percent leased to five tenants, all of which specialize in the field of cardiac surgery. The property was acquired from CC Lacombe, LLC, an unaffiliated third party, represented by Doug Connell of Grubb & Ellis Company. Grubb & Ellis Healthcare REIT II financed this acquisition with cash proceeds received from its offering.

Contact: Damon Elder, Phone: 714.975.2659, Email: damon.elder@grubb-ellis.com
 
 
Richard Antczak Joins Grubb & Ellis as Vice President, Industrial Group

ROSEMONT, Ill. (March 8, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Richard M. Antczak (middle left photo)  has joined the firm as vice president, Industrial Group, effective immediately.

In this role, Antczak will provide industrial commercial real estate services for owners and users in the I-80, I-55 and I-88 industrial submarkets.

“Rich’s reputation and integrity make him a great fit for Grubb & Ellis culturally,” said Chris Lydon, senior vice president and leader of the Industrial Group in the Chicago market. “His experience and client relationships will greatly enhance our presence in the I-88, I-80 and I-55 corridors. We’re excited he has chosen to join our growing industrial team.”

Antczak was most recently a vice president with Op2mize Commercial Real Estate. Previously, he spent 10 years as a managing director with Champion Realty Advisors, where he represented clients including Kellogg’s USA, ProLogis, Ridge Realty Trust and Zenit Tool in their industrial needs in the Chicago area. Prior to starting his brokerage career with Champion, Antczak held corporate real estate and operations positions with OfficeMax and American Stores/Osco Drug for 15 years.

Contact: Erin Mays, Phone: 312.698.6735, Email: erin.mays@grubb-ellis.com


Grubb & Ellis  Expands San Francisco Peninsula Office with Three-Member Industrial Team

REDWOOD CITY, CA– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm,  has expanded its San Francisco Peninsula office with the addition of an industrial team from Coldwell Banker Commercial.

Mike Davis (top right photo)  and JP Custodio  (lower left photo) join the company as vice presidents, Industrial Group, and Michael Draeger (lower right photo)  joins as an associate, Industrial Group.

Davis spent nearly nine years at Coldwell Banker Commercial. As a senior vice president, he was consistently one of the firm’s top real estate brokers in San Mateo County.

He earned Coldwell Banker’s Circle of Distinction each year and was the No. 1 producer of the Burlingame office from 2002 through 2004 and in 2007 and 2008. His clients include Avis, LSG Sky Chefs, IStar Financial and the San Francisco Examiner. Davis holds a bachelor’s degree from Southern Methodist University.

Custodio began his commercial real estate career with Coldwell Banker Commercial in 2001 and escalated to senior vice president.

During his career, he has leased and sold more than two million square feet of space throughout the San Francisco Bay area. His clients include Ammatac Corporation, Bell Law Firm and Jackson Arms. He holds a bachelor’s degree from San Francisco State University.

Draeger has four years of commercial real estate experience.

Contact: Julia McCartney, Phone: 714.975.2230, Email: julia.mccartney@grubb-ellis.com


Bob Helterbran Returns to Grubb & Ellis as Vice President, Multi Housing Group

DALLAS (March 8, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Bob Helterbran, (bottom left photo)  CCIM, has rejoined the company as vice president, Multi Housing Group.

“In his 30 years of commercial real estate experience in the greater Dallas region, Bob has developed many long-term relationships and an in-depth understanding of the market. He is a forward-looking professional that will help us build our multi housing presence in the area, and I’m delighted he’s rejoining the team,” said Moody Younger, executive managing director, Texas.

Helterbran returns to Grubb & Ellis after spending more than two years as senior vice president of Transwestern’s Multi-family investment sales division. Prior to joining Transwestern in 2007, he spent three years with Grubb & Ellis as vice president, Multi Housing Group. Prior to joining Grubb & Ellis in 2005, he was vice president in Pinnacle Realty Management’s Multi-family brokerage division. Helterbran began his career at Coldwell Banker Commercial in 1974.

During his career, Helterbran has been involved in investment transactions valued in excess of $600 million. His clients include LNR Partners, Capmark, Centerline Capital Group, Capital One Bank, GE Capital, Helios AMC – Special Servicing Division, Ocwen Financial Corporation and Cross Equities.

Helterbran holds a bachelor’s degree from the University of North Texas. He is a member of the Greater Dallas Association of Realtors, the North Texas Commercial Association of Realtors and is active in assisting the downtown Dallas homeless shelter.

Contact: Julia McCartney, Phone: 714.975.2230, Email: julia.mccartney@grubb-ellis.com