HFF named to market for sale Riverside Plaza in Riverside, CA

LOS ANGELES, CA – HFF announced that it has been named to market for sale Riverside Plaza (top left photo), a 475,211-square-foot dual-grocery/drug and entertainment-anchored center in Riverside, California.

HFF is marketing the property on behalf of the seller, The Westminster Funds.  The property is a core-plus opportunity and is listed for sale without an asking price and will be sold free and clear of debt.

Riverside Plaza is situated on nearly 33 acres at 3545 Central Avenue adjacent to State Highway 91 in Riverside. 

The property is a landmark in the region and was renovated in 2004 and is approximately 93 percent leased to tenants including Von’s (not included in the collateral), Trader Joes, CVS Pharmacy, Regal Cinemas, Stadium 16, Forever 21, El Torito California Pizza Kitchen, Panera Bread and many more national tenants.

The shopping center offers investors a large upside opportunity in below market leases and future development opportunity, which compliments the already existing strong center.  

The HFF investment sales team representing the seller is led by managing director Bryan Ley,  senior managing director Ryan Gallagher (middle right photo) and director John Crump (lower left photo).

The Westminster Funds are diversified real estate investment partnerships for private investors and their foundations.

Contacts:

BRYAN LEY                                       RYAN GALLAGHER                      

CA Lic. #01458927                           Ca Lic. #01269918                       

 HFF Managing Director                   HFF Senior Managing Director       

 (310) 407-2100                                 (949) 253-8800                                   

bley@hfflp.com                                  rgallagher@hfflp.com 

KRISTEN MURPHY

HFF Associate Director, Marketing

(713) 852-3500

krmurphy@hfflp.com

Banner Apartments LLC Names John Nikolich Executive Vice President – Capital Markets and Investor Relations

NORTHBROOK, IL – Banner Apartments, LLC announced today that it has named John Nikolich as Executive Vice President - Capital Markets & Investor Relations.

Prior to joining Banner Apartments, Mr. Nikolich was the Managing Director & Founder of Flint Creek Partners, LLC, a boutique real estate investment bank where he provided investment banking and financial advisory services to real estate companies.

Mr. Nikolich has over 20 years of experience in the real estate industry and has raised more than $6,000,000,000 for private and public real estate companies.  He began his institutional real estate career in the Investment Management Division of Jones Lang LaSalle in 1992. 

Following Jones Lang LaSalle, Mr. Nikolich joined the Real Estate Investment Banking group at Wells Fargo Securities (formerly known as EVEREN Securities, Inc.), where he raised capital for publicly traded real estate investment trusts (REITs) as well as for leading private real estate operating companies.  He spent the first five years of his career at Accenture, evaluating, recommending and implementing financial solutions for an international clientele. 

“We are very pleased to have John join Banner.” said Milton Pinsky (top right photo), Chief Executive Office of Banner Apartments.  “The depth of his experience in raising capital, coupled with the strength of his reputation will be a great compliment to our company.”

“Banner’s impressive track record and approach to creating value for their investors, combined with strong fundamentals in the multi-family industry, made this a unique opportunity.  I’m looking forward to joining Banner’s team and helping the Company execute its growth strategy.” said Mr. Nikolich. 

Mr. Nikolich holds an M.B.A. in Finance & Marketing from the Booth School of Business at The University of Chicago and a B.A. in Economics from Northwestern University. 

Banner Apartments, LLC is a real estate investment management business specializing in the ownership, development and management of multi-family properties.  Banner was founded in 1989 and currently has ownership interests in and manages over 5,890 apartment units.  In addition, the principals of Banner formed a 501(c)(3) corporation for philanthropic reasons which has acquired to date an additional 439 affordable apartments in Illinois and Florida.  Banner currently employs 208 team members.

  More information is available at the company’s website: www.BannerApartments.com.

Contact: Douglas S. Imber, 773.305.4902