HFF arranges $25 million financing for student housing project at University of Texas at Austin, TX

 AUSTIN, TX – HFF announced today that it has arranged $25 million in financing for University Towers (top left photo), a 184-unit, 641-bed, off-campus, dormitory-style student housing project serving the University of Texas at Austin in Austin, Texas.

Working on behalf of Cardinal Group Investments, LLC, HFF placed the adjustable-rate loan with a national debt fund.  Loan proceeds were used to acquire the property.

University Towers consists of three residential towers, a six-story, 575-space parking garage and 35,840 square feet of ground floor retail space.

 Community amenities include a swimming pool with grills, TV lounge, game room, fitness center, computer lab, housekeeping services, laundry facilities and a 24-hour security patrol. 

The property also has a full-service cafeteria that serves meals to students every day. 

Located at 801 West 24th Street, University Towers is in the West Campus area within walking distance to the University of Texas campus, which has more than 51,000 students and 17 colleges and schools.

The HFF team representing the borrower was led by Pat Burger (lower right photo), Tim Wright (top right photo) and Doug Opalka (lower left photo).

Cardinal Group Investments is the investment sponsor arm of Cardinal Group. 

Founded in 2007, Denver-based Cardinal Group is a fully-integrated real estate investment, development, management and advisory firm specializing in opportunistic and value-added investments in student housing and multifamily / mixed-use urban infill projects in the United States.

Contacts: 

                       

PATRICK BURGER, HFF Associate Director, (858) 552-7690,  pburger@hfflp.com                           

TIMOTHY WRIGHT, HFF Senior Managing Director, (858) 552-7690,                                 

  twright@hfflp.com    

                      

KRISTEN MURPHY,  HFF Associate Director, Marketing, (713) 852-3500,  

krmurphy@hfflp.com

Comar Leases 44,000 SF in New Jersey’s Vineland Industrial Park

  

VINELAND, N.J /PRNewswire/ -- Comar, Inc has signed a multi-year 44,000 SF lease for modern warehouse space located at 3100 N. Mill Road, Vineland, NJ.(top left photo) 

This 432,000 SF facility is owned by Vineland Construction Company.  Comar will consolidate its warehouse and distribution operations into this facility which will allow Comar to more efficiently service its customers.

The facility features 30 Ft. ceiling height, large bay dimensions, 16 dock-high truck doors and is strategically located near the entrance to Route 55 north of downtown Vineland. 

Mike McGowan, Logistics Manager for Comar stated, "We worked closely with the people at Vineland Construction Company (VCC) to ensure that the selected space will meet our very unique requirements.  VCC was able to work under a very tight time frame to complete the build-out so that we could start operating out of this well built facility."

John Krauser, President and Chief Operating Officer of Vineland Construction Company added, "We are extremely pleased to welcome Comar as a tenant.  Comar has contributed and will continue to contribute to the economy of Vineland."  

Subsequent to this transaction, Vineland Construction Company has entered into an exclusive listing agreement with Colliers International to market the remaining available space in this facility.  The broker of record is Tony DiDio who can be contacted at 609-820-5900 to set up a tour of the building and/or for more information.   

For more information on Comar, please visit www.comar.com.

For more information on Vineland Construction, please visit www.vinelandconstruction.com.

Contact:

Joe Sternberg

Director of Marketing

Vineland Construction Company

71 W. Park Avenue

Vineland, NJ 08360

Joe.Sternberg@nfiindustries.com

Direct: 856-794-4795

Cell: 215-285-2224

Fax: 856-794-4721

ICI Homes to Represent Plantation Bay, Amelia National at Live South Retirement and Real Estate Expo in Long Island, NJ, CT

DAYTONA BEACH, FL--- A team of five sales associates and marketing executives from ICI Homes will attend the Live South Retirement and Real Estate Expo in Long Island, N.Y. Jan. 7-8.

Rosemary Messina (middle right photo), vice president of sales and marketing at ICI Homes, said the sales and marketing team will represent both Plantation Bay and Amelia National at the event, which is expected to attract more than 10,000 area residents.

Messina said the ICI Homes team will attend Live South Retirement Expos in Morris County, N.J., Jan. 21-22 and Fairfield County, Ct.  Feb. 11-12.

“We anticipate three very busy weekends and weeks of follow-up afterward,” explained Messina, a veteran of the trade shows, along with her corporate marketing manager Lisa Egle.

“These events are very popular in the northeast,” Egle said.

“Each year that we attend we make more friends, and spend hours catching up with people we met last year or the year before.”

Eventually, Egle said, many of these friends plan to move to Florida to retire. “We have several homeowners at Plantation Bay and Amelia National that first learned about our communities at a retirement expo,” Messina said.

ICI Homes is ranked by Builder magazine as one of the top 100 homebuilders in the nation.  The 32+-year-old firm builds new homes and resort facilities in the Volusia-Flagler region as well as in Jacksonville, Orlando, Melbourne and Tampa.

For more information, contact:

Lisa A. Egle, Corporate Marketing Manager ICI Homes-Daytona Beach, 386-236-4273

Rosemary Messina, Vice President of Sales & Marketing, ICI Homes, 386-236-4231

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142  

Cotter Ryan Commercial earns three construction contracts in Central Florida

 LONGWOOD, FL --- Cotter Ryan Commercial LLC, based at Savannah Park off SR 46 by Sanford, has started interior improvements for EyeMax Ophthalmologists’ facilities at the new Tavares Surgical Center off U.S. 441 in Tavares.

Scott Ryan (top right photo), founder and president of Cotter Ryan Commercial, said the construction contact is worth an estimated $100,000 on the 4,000 square foot medical office space, part of the 20,000 square foot Tavares Surgical Center the construction firm built last year.

Cotter Ryan also earned a contract to provide improvement renovations for Express Label at 1955 Corporate Square, Longwood, Fla. and a 1,000 square foot renovation improvement at Aloma Cinema Grill in Winter Park at Lakemont and Aloma Avenues.

For more information, contact:

 Scott H. Ryan, President, Cotter Ryan Commercial, LLC, 407-786-7686 sryan@cotterryan.com

 Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142, lvershelco@aol.com

Cuhaci & Peterson Architects Awarded Contracts to Design New Fresh Market in Miami Suburb; Sweet Tomatoes Restaurant in Kendall

ORLANDO, Fla. – Cuhaci & Peterson Architects, LLC based in Orlando’s Baldwin Park, recently completed the design for a new Fresh Market facility at the Village of Pinecrest, a suburb in Miami-Dade County and has been awarded a contract to design a new Sweet Tomatoes Restaurant on 117th and 88th in Kendall in South Dade County Florida.

 Lonnie Peterson, chairman of the architectural firm, said the Fresh Market will offer 22,500 square feet of grocery store space. The new Fresh Market will be located on U.S. 1 (S. Dixie Hwy) at S.W. 136th St. in the South Miami suburb.   

 The new Sweet Tomatoes Restaurant will be 3,500 square feet and scheduled to open in 2012

Cuhaci & Peterson Architects awarded contracts for two shops at Charlotte International Airport

ORLANDO, Fla. --- Cuhaci & Peterson Architects, LLC, based in Baldwin Park was recently awarded a contract for HMS Host’s two shops at Charlotte N.C. International Airport as well as some main food court seating.

Lonnie Peterson, chairman at Cuhaci & Peterson Architects said the two shops include: Bad Daddy’s 1,000 square feet and Fox Sports Grill with 1,200 square feet.

For more information, contact:  

Lonnie Peterson, Chairman Cuhaci & Peterson Architects, LLC, 407-661-9100;  

Jed Downs, President Cuhaci & Peterson Architects, LLC, 407-661-9100;  

Larry Vershel or Beth Payan, Larry Vershel Communications, Inc. 407-644-4142, lvershelco@aol.com  

Celebration Golf Club in Orlando, FL Earns Golf Digest Magazine Architecture Award for one of Florida’s Best Designed Courses

ORLANDO, FL --- Celebration Golf Club is celebrating a prestigious new honor.

Golf Digest Magazine recently presented Celebration with its Architecture Award, designating Celebration Golf Course as one of the best-designed courses in Florida.

Tano Malentin, (lower right photo) general manager of Celebration Golf Club, said Golf Digest Magazine assembled a panel of expert judges to rate courses all across the country.

“We are delighted at this recognition,” Malentin said. “It confirms a fact thousands of golfers throughout Central Florida and many more from around the world already know---Celebration offers one of the best golf courses in Florida,” he said.

 Celebration Golf Course, co-designed by Robert Trent Jones Senior and Robert Trent Jones Junior, has hosted the U.S. Senior Open Qualifier, Robert Gamez Celebrity Invitational, Florida State Public Links Championship, Buick Scramble National Championships, and The Golf Channel’s Drive, Chip & Putt Finals.

For more information,  contact  

Tano Malentin General Manager, Celebration Golf Club 407 566 1045 ext 4605 tmalentin@celebrationgolf.com

 Kenny Nairn, Scottish PGA Golf Professional/EVP of Golf, Celebration Golf Management, 407-5676-1045 ext 4604 knairn@cgmgolfproperties.com

 Michael J. Neumann, Social Media Supervisor, Celebration Golf Management 407-566 1045 x4621; mneumann@cgmgolfproperties.com;

 Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142.

Annaly Capital Management, Inc. Announces Conversion Rate Adjustment for 4.00% Convertible Senior Notes Due 2015

 NEW YORK, NY--(BUSINESS WIRE)-- Annaly Capital Management, Inc. (NYSE: NLY) (“Annaly” or the “Company”)  announced an adjustment to the conversion rate for 4.00% Convertible Senior Notes Due 2015 (the "Notes").

 The adjustment to the conversion rate for the Notes is being made pursuant to the governing indenture for the Notes in light of the Company's previously announced fourth quarter 2011 common stock cash dividend of $0.57 per common share.

The new conversion price for the Notes is $16.0686 per common share, effective December 27, 2011. The conversion price for the Notes was previously $16.6364 per common share.

The new conversion rate for each $1,000 principal amount of Notes is 62.2331 of the Company’s common shares. The conversion rate for each $1,000 principal amount of Notes was previously 60.1093 of the Company’s common shares.

Notice of the conversion rate adjustment was delivered to security holders and Wells Fargo Bank, National Association, the trustee, in accordance with the terms of the governing indenture for the Notes.

Contact:

Annaly Capital Management, Inc.

Investor Relations, 888-8Annaly

http://www.annaly.com/

Southern Commercial in Orlando, FL Completes Over $14 Million in Transactions for 4th Quarter 2011

  

 ORLANDO, FL-- Southern Commercial Real Estate Advisors completed over $14,000,000 in lease and sale transactions totaling over 660,000 SF during 4th quarter of 2011. 

 Southern Commercial recently completed transactions with Signature Brands for 120,400 SF, ABC Supply Company for 55,500 SF, Tri-Anim for 50,643 SF;

 Assured Record Storage for 40,058 SF, Kelly’s Foods for 33,000 SF, Bridgestone for 32,100 SF,  Darden for 30,413 SF,  Adacel Inc. for 29,092 SF, Nutrex for 26,710 SF, Swank Audio Visuals for 25,068 SF, Kenco Logistics for 22,722 SF, Krunchie for 22,720 SF, and Barnie’s for 18,172 SF,  to name a few.

  Media Contact:     

  

Celeste MacKenzie                                                                         

Southern Commercial Real Estate Advisors

321-281-8503                                                                               

4700 Millenia Blvd., Suite 200

Orlando, FL 32839

cmackenzie@southerncommercialre.com                                      

Witten and Nolletti of IPA Sell $18.6 Million Connecticut Multifamily Asset

MIDDLETOWN, CT –Institutional Property Advisors (IPA), a recently formed multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has arranged the sale of Town Place Apartments (top left photo), a 166-unit complex in the highly regarded West Lake district of Middletown.

The sales price of $18,600,000 represents $112,048 per unit.

 Steve Witten (middle right photo) and Victor Nolletti (lower  left photo) senior directors in the New Haven office of IPA, represented the seller, CAPREIT Town Place LP. IPA also represented the buyer, Baker Middletown LLC.

  “The new owner of Town Place has acquired an exceptionally well-maintained and well-managed rental asset ideally located between New York City and Boston,” says Witten.

 “With easy access to major highways, a beautiful woodland setting in a region with high barriers to entry, Town Place Apartments will provide the new owner with nominal risk and long-term stability in one of the Northeast’s strongest rental markets.”

Developed in 1987 on 13.3 acres, the property is located at 10 Town Place, near Interstates 91 and 84. The asset is situated 10 minutes from downtown Hartford and 20 minutes from New Haven. The community consists of seven two-, three- and four-story buildings with a mix of 78 one-bedrooms, 62 two-bedrooms and 26 three-bedrooms. 

Middletown lies along the banks of the Connecticut River in Middlesex County. Just 90 minutes from New York City and less than two hours from Boston, Middletown has several city parks and hiking trails. It is also home to numerous retail centers, schools, hotels and employment centers.

The institutionally owned and operated community recently commenced a number of capital improvements and unit upgrades that will enable the new ownership to raise rents by $125 a month, according to Nolletti.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

http://www.institutionalpropertyadvisors.com/          

Forbes Recognizes Alvin Mansour of Marcus & Millichap's San Diego, CA Office

SAN DIEGO, CA Jan. 5, 2012 – Alvin Mansour (top right photo) of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has been recognized by Forbes magazine for his achievements in the commercial real estate industry at the age of 29.

Mansour, a senior vice president investments and senior director of Marcus & Millichap’s National Retail Group (NRG) was recognized for closing more than $1 billion in real estate transactions in the past eight years.

 Forbes also recognized Mansour as the firm’s top listing agent in 2010. Mansour specializes in the sale of single- and multi-tenant retail properties throughout California and nationwide.

“This recognition was very deserving,” says John Vorsheck (middle left photo), regional manager of the San Diego office of Marcus & Millichap.

“Alvin is one of the most dedicated, hard-working brokers in Southern California and his commitment to providing superb service to our investor clients is unparalleled. When he’s not working hard to close transactions along with his team, Alvin is either out performing community service or spending time with his family.”

Several real estate trade magazines, including Real Estate Forum, Real Estate Southern California and the California Real Estate Journal have recognized Mansour for his accomplishments as a leading investment broker under the age of 30.

Find out which other industry leaders joined Mansour in Forbes’ 30 Under 30 Real Estate section: http://goo.gl/FhSLA.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

Colliers International Negotiates a 27,985 SF Industrial Property Sale Totaling $2.97 Million in Cerritos, CA

CERRITOS, CA, Jan. 5, 2012 -- Colliers International, the third largest global real estate services organization, has negotiated an owner/user sale for a 27,985 square foot industrial building located at 16625 Norwalk Blvd., Cerritos, Calif. (top left photo).

The transaction is valued at $2,966,410.00 ($106 PSF).  

Christopher Sheehan (middle right photo), Senior Vice President and Adam Deierling (lower left photo), Vice President, both based in Colliers International’s South Bay office, represented the Seller and Buyer in this transaction. The seller is a private investor and the Buyer is in the automotive industry.

 “This was a perfectly matched Seller and Buyer transaction,”  said Deierling. “The Seller wanted a year-end close and the Buyer needed more space.

 “ Both parties worked diligently to get through a number of hurdles that arose during the process we were able to close in a very expeditious manner. There were multiple offers on the property as a result of the aggressive local marketing we applied and as expected, the Buyer came from the immediate area.”

 Built in 1969, this property is a concrete tilt-up industrial building with an enclosed paved yard including 4,500 square feet of office space. It will be used for warehousing and distribution for automotive operations.

Contact:

Angela S. Hwang

Regional Marketing Coordinator | Greater Los Angeles

Dir +1 213 532 3258 | Mob +1 310 867 4105

Main +1 213 627 1214 | Fax +1 213 327 3258

angela.hwang@colliers.com

Colliers International

865 S Figueroa St., Suite 3500 | Los Angeles, CA 90017 | USA

http://www.colliers.com/

Follow us at www.twitter.com/colliersgla.

Agree Realty Announces $10,350,000 In Acquisitions

 FARMINGTON HILLS, MI /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC)  announced it has acquired a Wawa convenience store and fuel station in Baltimore, Maryland as well as a Walgreens pharmacy in Fort Walton Beach, Florida, and a CVS pharmacy in Leawood, Kansas, during December 2011.

The average remaining lease term for the three acquisitions is 15 years.  The aggregate cost of the three acquisitions was approximately $10,350,000.  The Company assumed approximately $3,400,000 of debt in conjunction with one of the acquisitions.  The assumed debt matures in February 2020 and carries a 6.24% interest rate.

"We are excited to add these properties to our expanding portfolio of net lease assets. Wawa, the most recent addition to our roster of tenants, is a highly respected convenience store operator with over 570 locations across the eastern United States," said Joey Agree (middle right photo), President and Chief Operating Officer of Agree Realty Corporation. "These acquisitions continue to diversify our portfolio of industry-leading retailers."

Agree Realty is primarily engaged in the ownership, management, acquisition and development of single tenant properties leased to industry leading retail tenants.  Agree Realty owns and operates a portfolio of 87 properties, located in 21 states and containing approximately 3.6 million square feet of leasable space.

For additional information, visit the Company's home page on the Internet at http://www.agreerealty.com.

Contact:  Hedley Williams, Chief Investment Officer, +1-248-737-4190  

HFF closes sale of Class A multi-housing property in St. Louis’ Central West End neighborhood

              

CHICAGO, IL – HFF announced today that it has closed the sale 3949 Lindell (top left photo), a 197-unit, Class A luxury multi-housing community in the Central West End neighborhood of St. Louis, Missouri.

HFF marketed the property on behalf of the seller, Gulfstream Capital Partners.  Education Realty Trust purchased 3949 Lindell for an undisclosed amount free and clear of debt.

3949 Lindell is located across from St. Louis University and near Forest Park and the Washington University Medical Center. 

Completed in 2008, the four-story property has studio, one- and two-bedroom furnished units that average 894 square feet each. 

Street-level commercial space at the property totals 13,083 square feet.  Community amenities include a swimming pool, business center, fitness center, tanning salon and assigned garage parking. 

The HFF investment sales team representing Gulfstream Capital Partners was led by managing director Sean Fogarty (lower right photo), executive managing director Matthew Lawton and managing director Marty O’Connell.

Contacts:

                              

 SEAN FOGARTY                                     

 HFF Managing Director                              

(312) 528-3675 ,                                            

sfogarty@hfflp.com     

                                                                                              

KRISTEN MURPHY,  HFF Associate Director, Marketing, (713) 852-3500

krmurphy@hfflp.com                                       

HFF arranges $29 million financing for two Pensacola, FL shopping centers

                                       

 MIAMI, FL – HFF announced today that it has arranged $29 million in financing for Cordova Commons (top left photo) and Tradewinds Shopping Center (middle right photo), retail centers totaling 354,245 square feet in Pensacola, Florida.

HFF worked on behalf of the borrowers, VIF II Cordova Associates LLC and VIF II Tradewinds Associates LLC to secure the five-year, floating-rate loan through US Bank NA. 

 The borrowers are both joint ventures of GMH Capital Partners and AEW Capital Management L.P.  Loan proceeds were used to retire existing debt on both properties and provide funding for the releasing of a vacant K-Mart store.

  Cordova Commons, which was renovated in 2008, is a 175,691-square-foot community shopping center anchored by Stein Mart and Petco.  The property is situated on 12 acres at the corner of Airport Boulevard and North Ninth Avenue adjacent to the Pensacola Regional Airport and across from the Cordova Mall.

Tradewinds Shopping Center is a 178,554-square-foot community shopping center.  Renovated in 2007, the property is 91 percent occupied and is anchored by TJ Maxx, JoAnn Fabrics, Shoe Station and Dollar General.  Tradewinds Shopping Center is located at the southwest corner of North Davis Highway and East Burgess Road close to the Interstate 10/110 interchange.

The HFF team representing the borrowers was led by senior managing director Paul Stasaitis (lower left photo) and director Chris Drew (lower right photo).

GMH Capital Partners is a fully integrated real estate owner and service provider specializing in the areas of development, construction, property and asset management, and investment sales.

Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide.  

One of the world’s leading real estate investment advisors, AEW and its affiliates manage over $31 billion of capital invested in over $45 billion of property and securities in North America, Europe and Asia (as of  September 30, 2011).  

Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. 

AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Singapore and Hong Kong, as well as additional offices in nine European cities.  For more information please visit www.aew.com.

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                                       

Interstate Hotels & Resorts Signs Management Agreement for 473-room Pheasant Run Resort near Chicago, IL

ARLINGTON, VA and CHICAGO, IL, Jan. 5, 2012—Interstate Hotels & Resorts, the largest U.S.-based global  hotel management company, today announced that it has entered into an agreement to manage the landmark 473-room Pheasant Run Resort (top left photo), located just west of Chicago in historic St. Charles, Ill. 

The transition of operations, effective January 6, 2012, is expected to be seamless, with no interruption of services to guests. 

“We look forward to having Interstate Hotels & Resorts as manager of Pheasant Run,” said David A. McArdle, president of Oakbrook Companies.  “Interstate’s experience in operating large resorts and convention hotels will be key to increasing sales and building on the resort’s 50 years of hospitality excellence.”

Nestled on a 250-acre setting in the scenic Fox River Valley, the Chicagoland hotel is easily accessible from both Chicago O’Hare International (middle right photo) and Midway airports and is located near Dupage Airport. 

Accommodations range from spacious courtyard rooms with expansive views to lavish penthouse level suites and two-story whirlpool suites.

 The resort features a number of unique amenities, including Zanies Comedy Club, two theaters and five dining options, from casual to upscale, as well as more than 100,000 square feet of meeting space.  Additionally, guests can enjoy Mario Tricoci Hair Salons & Day Spas and 36 holes of golf on two award-winning courses.

Contact:

Jerry Daly, Lauralee Dobbins                         Carrie McIntyre

Media                                                                 SVP, Treasurer

Daly Gray                                                           Interstate Hotels & Resorts

(703) 435-6293                                                (703) 387-3320

Lauralee@dalygray.com                                 carrie.mcintyre@ihrco.com

 Patrick Daly

Account Supervisor

Daly Gray, Inc.

patrick@dalygray.com

Office:  (703) 435-6293

Cell:  (703) 300-8289

Voit’s Irvine and Sacramento offices combine forces to complete $6.6 Million sale of the 94,000-SF Mammoth Professional Building. In Rocklin, CA

  

SACRAMENTO, CA., (Jan.5, 2012) – Voit Real Estate Services has successfully completed the $6.6 million sale of the Mammoth Professional Building (top left photo), a 94,267 square-foot office property located at 5701 Lonetree in Rocklin, Calif.

 This executive-class office building was built in 2009 and has 78 office suites with upgraded finishes that will accommodate small or large business tenants, according to Dan Vittone (middle right photo), Senior Vice President in Voit’s Irvine office.

Vittone and Alan Pekarcik (lower left photo), Executive Vice President in Voit’s Irvine office, worked with Robb Osborne, Senior Vice President, in Voit’s Sacramento office to represent the seller, a major U.S. financial institution.

The buyer, Bai Zhi Yan, a company that intends to lease the remaining office space in the multi-tenant building, was represented by Anton Qiu of TRI Commercial.

“The Voit team was successful in identifying the right buyer for our client’s property with the help of our Sacramento office,” said Vittone.  “With multiple offices in various markets, our team is well-equipped with the resources needed to serve our clients throughout the Western United States.” 

The Mammoth Professional Building features a unique environment including a nine-hole putting green.  The building is close to Placer County Justice Campus and located near the intersection of the new bypass at Lonetree and Sunset.

Further information is available at http://www.voitco.com/.

Contact: 

Judith Brower

Brower, Miller & Cole

(949) 955-7940

JBrower@browermillercole.com