Rachel Wein Named 2012 Outstanding Young Alumnus at University of Florida College of Design, Construction and Planning

St. Petersburg, FL. --- Rachel Elias Wein (top right photo), the St. Petersburg consultant who heads WeinPlus Real Estate Advisory Services, was recently named an Outstanding Young Alumnus of the University of Florida’s College of Design, Construction and Planning (lower right photo).

Wein, who earned a Bachelor’s Degree, Master of Architecture and Master of Business in Real Estate from the University of Florida and serves on the advisory board of the Bergstrom Center for Real Estate Studies, is a member of Florida Blue Key and the University of Florida Hall of Fame.

The former Development Manager with The Sembler Company in St. Petersburg and Senior Associate with Ernst & Young’s Construction and Real Estate Advisory Services practice in Philadelphia said prior commitments prevent her attending the Outstanding Alumnus Awards presentation in Gainesville April 7.

The Outstanding Young Alumnus awards were established to honor young alumni who have distinguished themselves in the areas of business, community involvement and public service.

Wein currently serves as the construction chairman for the Pinellas Education Foundation’s Savings for the Classroom initiative.

For more information, contact

Rachel Elias Wein, AIA, Principal, WeinPlus, 727-386-9346, www.weinplusassociates.com

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

Marcus & Millichap Cites Top Producers

  Greg Harris of Institutional Property Advisors Ranks No. 2 Agent Nationwide

CALABASAS, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced its top investment specialists for 2011.

Gregory S. Harris (top right photo), an executive vice president investments and senior director of Institutional Property Advisors (IPA), a recently formed multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has ranked as the firm’s No. 2 agent out of more than 1,000 investment specialists nationwide.

            “We are proud of Greg’s achievements, and happy to recognize him as the firm’s No. 2 agent nationwide,” says John J. Kerin (top left photo), president and chief executive officer of Marcus & Millichap.

 “His outstanding accomplishments in the multifamily sector and as an institutional property advisor are a testament to his superior transaction expertise and unwavering commitment to client service.”

Harris joined Marcus & Millichap in August 1994 and was promoted to executive vice president investments in January 2008. He has been a Marcus & Millichap Top Agent every year since 1999. In 2011, Harris brokered transactions valued at more than $347 million.

Sheppard Named Top Agent for Third Consecutive Year; Armand Tiberio and Spencer Hurst Also Honored

 CALABASAS, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced its top investment specialists for 2011.

 Robert Sheppard (middle right photo), a senior vice president investments and national director of the Tax Credit Group (TCG) of Marcus & Millichap, has ranked as the firm’s top-performing agent out of more than 1,000 investment specialists nationwide.

This marks the third consecutive year in which Sheppard has earned the company’s highest ranking, according to John J. Kerin, president and chief executive officer of Marcus & Millichap.

Armand Tiberio (lower left photo), a first vice president investments, and Spencer Hurst (lower right photo), a vice president investments, both senior directors of the TCG, ranked No. 7 and No. 13 in the firm, respectively. Sheppard, Tiberio and Hurst are based in Marcus & Millichap’s Seattle office.

 

Sheppard is also the firm’s top multifamily investment specialist nationwide, a position he has attained for the past four consecutive years.

“We are proud of Robert’s exceptional achievements, and happy to recognize him as the firm’s top agent nationwide for the fourth year in a row,” says Kerin. “His outstanding accomplishments in the multifamily sector and specialization in tax credit properties are a testament to his superior transaction expertise and unwavering commitment to client service.”

Sheppard joined Marcus & Millichap in December 1993 and was promoted to senior vice president investments in January 2008. He is the national director of the TCG, which is the leading specialty group dedicated exclusively to the disposition and structure finance of low-income housing tax-credit (LIHTC) multifamily assets throughout the Unites States. In 2011, the group closed transactions valued in excess of $798 million.

Tiberio, a first vice president investments, has been a TCG member since its inception in 2001. Tiberio joined Marcus & Millichap in July 2001 and was promoted to vice president investments in July 2008.

Hurst, a vice president investments, has also been a member of the TCG from the outset. Hurst joined Marcus & Millichap in April 2001 and was promoted to vice president investments in July 2008.

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

McCarthy Tops Out Construction of New $110 Million Math and Science Building at San Diego Mesa College

SAN DIEGO, CA– McCarthy Building Companies, Inc. (www.mccarthy.com), one of the nation’s leading education facility builders, has topped out steel construction for the new 206,000-gross-square-foot, four-story Math and Science Building in the heart of San Diego Mesa College, located at 7250 Mesa College Dr. in the Clairemont area of San Diego, Calif.

 

 San Diego Community College District representatives, San Diego Mesa College faculty members, and project team members gathered recently to commemorate the milestone with a traditional topping out ceremony. 

 "Students and faculty members can look forward to this being an exceptional facility, representing the largest and one of the most complex projects being built on the San Diego Mesa College campus with Proposition S and N construction bond funds,” said David Umstot, vice chancellor of facilities management for the San Diego Community College District. “Construction is going smoothly, and we’re on target for completion in August of next year.”

The $110 million Math and Science Building occupies the area immediately east of the existing Learning and Resource Building and south of the I-300 Building.

McCarthy construction crews disassembled three older buildings on the site before breaking ground for the new facility in August of 2011.  Construction has required careful monitoring and managing to minimize disruption to regular campus activities.

This is the third major project McCarthy has worked on at San Diego Mesa College on behalf of the San Diego Community College District.

The company also built the new three-story, 50,000-square-foot Allied Health Building, which was completed in August of 2009 and awarded LEED Gold Certification by the USGBC.  McCarthy also built the new the Miramar College parking structure and police substation, which was completed in August of 2011 and is expected to receive LEED Platinum Certification by the USGBC.

 Contact:

Bonnie Kutch

Director

619-299-1010

Kutch & Company

3904 Groton Street | Suite 203 | San Diego, California 92110

www.kutchco.com

www.mccarthy.com

at www.sdmesa.edu

.

Beech Street Capital Provides $14.6 Million for Affordable Apartment Portfolio in Nashville, TN

BETHESDA, MD – Beech Street Capital, LLC, announced that it provided $14.6 million in Fannie Mae DUS loans to refinance a portfolio of three affordable apartment complexes totaling 402 units in the Nashville, Tennessee MSA.

 The borrower, CAPREIT, wished to close on two of the properties—Cedar Ridge and Green Wood—as quickly as possible due to an impending maturity, while closing Meadow Wood on a more standard timeframe.

Beech Street was able to meet both these directives, closing on the first two properties in just 35 days. The transaction was originated by Jacob Katz of Meridian Capital Group, LLC, and was financed by Beech Street Capital as part of its correspondent relationship with Meridian. 

Beech Street refinanced a smaller portfolio for the borrower in 2011.  “Our familiarity with the company combined with its reputation surrounding affordable properties helped us move the process along quickly,” says Matt Legge, senior vice president of credit.  “We could have closed all three properties in 35 days if that had been what the borrower wanted.”

The three properties are Section 42 Low Income Housing Tax Credit (“LIHTC”) communities and were purchased by the borrower in 2006.

Richard Kadish (top right photo), CAPREIT’s president, praised Beech Street for its prompt execution.  “Beech Street’s hard work and diligence in getting the refinancing closed in such a timely fashion were greatly appreciated,” he says. Since 1993, CAPREIT has been involved in over 200 multifamily communities, containing over 30,000 rental and condominium apartment homes.

 The fixed-rate loans have 10-year terms with 9.5 years yield maintenance and amortization of 30 years payable on an actual/360 basis.

 For additional information, contact:

Courtney Lewis

240-507-1948

clewis@beechstcap.com

  

www.meridiancapital.com

www.beechstcap.com

  

$42 Million California Central Coast Multifamily Property Sale Closes

 SANTA MARIA, CA – Institutional Property Advisors (IPA), a recently formed multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has brokered the sale of La Vista Apartments (top left photo), a 460-unit apartment community located in the Santa Barbara County city of Santa Maria.

 The sales price of $42 million equates to $91,304 per unit and $142 per square foot.

Stan Jones (middle right photo), executive vice president investments, Stewart I. Weston (middle left photo), senior vice president investments, Sal Saglimbeni (middle right photo), vice president investments and Phil Saglimbeni (lower left photo), vice president investments, represented the seller, Security Properties.

The buyer is an investment partnership led by Kennedy Wilson Multifamily.

“Santa Maria is the largest and fastest-growing city in Santa Barbara County, which has the fourth-highest employment rate in the state,” says Jones. “The county is home to a well-regarded wine region, a solid manufacturing base and Vandenberg Air Force Base, which is host to 6,000 employees.” 

 “La Vista Apartments’ operation is well positioned for future rent growth given its amenities, renovation potential and the expected economic upturn in California,” says Weston. “During the past three years, the previous owner invested approximately $2.4 million in capital improvements.”

“As with past sales, we are extremely pleased with IPA’s execution of this transaction,” adds David Dufenhorst (bottom right photo), Security Properties’ chief investment officer. “IPA provides excellent transaction knowledge and outstanding client service.”     

The 296,800-square foot property is located on 32 acres at 740 South Western Ave. in close proximity to Santa Maria’s newer retail, dining and entertainment centers, including Santa Maria Town Center and the Costco Power Center.

Built between 1978 and 1988, La Vista Apartments is situated in a serene park-like setting among single-family homes. The 26 two-story residential buildings are accentuated with a combination of wood and stucco siding and pitched composition shingle roofs. The community offers studio, loft, one-, two- and three-bedroom floor plans.

The community’s amenity package includes two swimming pools, two game rooms, playgrounds, a community room, a soccer field, a dog park and barbecue and picnic areas.

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

 www.InstitutionalPropertyAdvisors.com