Tuesday, February 5, 2013

$14.1 Million Medical Facility Sells in Suburban Charlotte, NC

Mint Hill, NC Medical Commons
 MINT HILL, N.C., Feb. 5, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Mint Hill Medical Commons, a 42,300-square foot medical care facility in Mint Hill, N.C. The asset commanded a sales price of $14.1 million, or approximately $334 per square foot.

            Glen Kunofsky and Judson Kauffman, in Marcus & Millichap’s Manhattan office, and Allen Smith, a vice president investments in the firm’s Charlotte Uptown office, represented the seller, a Charlotte-based developer. Kunofsky, in association with Russell Wachtler in Manhattan, represented the New York-based 1031-exchange buyer. 

Glen Kunofsky
 “The investor has purchased a 100-percent leased asset, with the majority of the lease held by a single tenant– one of the leading and most innovative healthcare organizations in the Carolinas,” says Kauffman. “Annual rent increases are built into all leases, ensuring steady revenue that keeps pace with inflation.”

“This transaction provides the purchaser with stable income—guaranteed by a credit tenant—that replaces the income generated by the New York asset,” adds Wachtler.

Judson Kauffman
The property, located at 11304 Hawthorne Drive, is 92 percent leased by the Charlotte Mecklenburg Hospital Authority, operating as Mint Hill Primary Care through Carolinas HealthCare System, which Moody’s rated in 2012 with a stable investment-grade bond credit rating of Aa3.

The facility is staffed with board-certified physicians along with a complementary team of qualified medical professionals.

Allen Smith
 “This transaction displays the power of the firm’s platform to facilitate apartment owners exchanging into long-term net-leased investments,” concludes Kunofsky. “Through a 1031 exchange, the investor was able to increase cash flow by 100 percent and move to a much less management intensive asset.”


Public Relations
(925) 953-1716

New Arcadia, CA High School Performing Arts Center Makes its Debut

Arcada, CA Performing Arts Center
Arcadia, CA, (Feb.  5, 2013) – A 60-year old wish for the community of Arcadia has finally come true with the opening of Arcadia Unified School District’s new $20 million Performing Arts Center.

 It was the District’s intent to build an auditorium in 1952 when the high school was originally constructed, but there was no funding.  Due to the passage of Bond Measure I in 2006, the District finally had a chance to fulfill this community’s enduring dream.

Dr. Joel Shawn
"We are exceptionally pleased to have realized the dream of providing our students, faculty and community members with a world class performing arts venue that will become a home for the arts in Arcadia,” said AUSD Superintendent Dr. Joel Shawn. “All aspects of the arts are an essential component of a rigorous education for our students and a healthy, vibrant community."

McCarthy Building Companies, Inc., one of Southern California’s foremost building companies specializing in educational facilities, served as general contractor/developer for the facility using Lease/Leaseback project delivery.

Paul Anka
Constructed on a 4.2 acre site at the northwest end of the Arcadia High School campus, the 40,000 square-foot theater venue opened on October 27, 2012 with an inaugural benefit concert by living music legend Paul Anka.

For a complete copy of the company’s news release, please contact: 

Laura Mickelson
Lauramickelson@cox.net; (949) 453-0851

Susan Garritano
 Sgarritano@mccarthy.com; (314) 968-3300                          

NAI Realvest negotiates new Lease Agreement for 13,360 SF of Industrial Space in Oviedo, FL

Paul Partyka
 MAITLAND, Fla. – NAI Realvest recently negotiated a new lease agreement for 13,360 square feet in the industrial facility located at 521 S. Econ Circle in Oviedo.

 Paul P. Partyka, managing partner at NAI Realvest, negotiated the transaction representing the landlord Oviedo-based M&O LP.

 The new tenant, BC Racing North America, Inc. based in Casselberry is expanding and moving from a smaller building in Longwood.

Chuck McNulty
Chuck McNulty of McNulty Group represented BC Racing, a manufacturer and supplier of springs, shock absorbers and struts for motor vehicles.

For more information, contact:
Paul P. Partyka, Managing Partner, NAI Realvest 407-875-9989 ppartyka@realvest.com;  Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com; Beth Payan or Larry Vershel, Larry Vershel Communications, Inc.  407-644-4142 

HFF receives National Seniors Housing Designation from Freddie Mac

Carol Mistretta
PITTSBURGH, PA – HFF announced today that it has been approved for a National Seniors Housing Designation effective February 1st from Freddie Mac.  HFF is now authorized to sell and service conventional loans secured by multifamily seniors housing properties nationwide.

                HFF’s Freddie Mac Program Plus® Seller/Servicer line of business is led by senior managing director Steve Henderson in the firm’s Houston office.  Mr. Henderson will team with associate director Campbell Roche who will lead the firm’s seniors housing Freddie Mac initiative.  Mr. Roche will be supported by associate director Luke Vanderpoel and director Carol Mistretta.

Steven D. Henderson
This designation is the latest development in HFF’s national healthcare practice, which expanded its seniors housing platform last year with the addition of seniors housing investment sales specialists Ryan Maconachy and Chad Lavender, who joined the firm’s Dallas office in March 2012.

                “We are very excited about the seniors housing designation and look forward to working with and expanding our relationship with Freddie Mac in this new capacity,” said executive managing director and managing member John Pelusi in HFF’s Pittsburgh office. 

John Pelusi
While the seniors housing designation is new to HFF, the firm has been an active Seller/Servicer with Freddie Mac since 2005, and in 2012, the firm completed more than $2.5 billion in Freddie Mac loans. 

The firm’s year-end unaudited transaction volume for all property types will likely total $41 billion on more than 1,300 transactions across the company’s capital markets platforms, which represents a 16.5 percent gain over 2011 transaction volume.

 For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

Colliers International, Greater Los Angeles Hires One of Region’s Most Prolific Retail Brokerage Teams; Kyle Matthews Leads as Senior Vice President

Kyle Matthews
LOS ANGELES, CA (Feb. 5, 2013) Colliers International, the third largest global real estate services organization, has hired one of the region’s top retail brokerage teams, led by Kyle Matthews who will serve as Senior Vice President.

 Other key team members include Aron Cline, Chad Kurz, and Jordan Uttal who will serve as Senior Associates. Working out of Collier’s Torrance office, the team specializes in investment sales of retail properties across the U.S., with an emphasis on the West Coast.

Matthews previously held the position of Director with Marcus & Millichap’s National Retail Group where his team completed more than 120 deals with a combined value of over $350 million in revenue with both institutional and private investors.

Martin Pupil
“Kyle and his team have the experience both regionally and nationally to really make an amazing impact in 2013 and beyond as the retail property sector attracts a private and institutional buyer pool that has been expanding over recent years,” stated Martin Pupil, Regional Managing Director for Colliers International.  

 “Kyle has created a unique team that demonstrates the ability to service the needs of its clients in this competitive retail market,” said Colliers Managing Director, John Hollingsworth. “We are pleased to have them join Colliers International and our strategic platform that will provide additional service capabilities to continue his amazing growth.”

John Hollingsworth
Matthews specializes in advisory, consulting, and transactional services with institutions, developers, syndications, and private investors of shopping centers and net leased properties.

Kyle has achieved many sales recognition awards which distinguishing him as one of the best retail agents nationwide. He has been recognized by CoStar, the Los Angeles Business Journal, and GlobeSt.com as one of the top investment sales brokers in the western United States.

He holds a Bachelor of Arts degree in International Relations with an emphasis on Global Business from the University of Southern California (USC) and was a member on USC’s 2003 National Championship Football Team where he lettered as a Strong Safety. 
 For a complete copy of the company’s news release, please contact:

.Darcie Giacchetto
Spaulding Thompson & Associates

PCCP Forms Joint Venture with Trinity Capital Advisors to Acquire 211,000-SF Industrial Portfolio in Charlotte, NC

Shopton Ridge, Charlotte, NC
New York, NY, Feb. 5, 2013 - PCCP, LLC has announced it has formed a joint venture with Trinity Capital Advisors for the acquisition of two Class‐A industrial properties totaling 211,000 square feet within Shopton Ridge, a 950,000-square-foot, Class-A industrial park located in the Southwest submarket of Charlotte, NC. 

The buildings are approximately 45 percent leased and exceptionally well located at the intersection of I‐485 and Highway 160, providing easy access to major regional roadways I‐77 and I‐85, and the Charlotte Douglas International Airport less than two miles away. 

Kevin Chin
“This investment was an ideal fit for PCCP’s joint venture equity program because it was an off‐market opportunity to acquire an institutional-quality, well-located industrial portfolio at an attractive basis,” said Kevin Chin, vice president with PCCP, LLC. “This is PCCP’s second transaction with Trinity Capital Advisors, a strong, hands-on operator with significant ownership experience in this market.”

The buildings were constructed between 2005 and 2008 and offer tenants the opportunity to lease first generation shell space and to custom design their office and warehouse improvements, which is unique in the market.  Shopton Ridge is one the newest and most modern developments in the largest and fast growing industrial submarket in Charlotte, with over 48 percent of the region’s warehouse inventory.

PCCP’s joint venture partner, Trinity Capital Advisors, is a Charlotte-based real estate investment firm that currently manages and leases over three million square feet of industrial product between Charlotte and Raleigh.
 For a complete copy of the company’s news release, please contact:

.Darcie Giacchetto
Spaulding Thompson & Associates

PCCP Provides $15.5 Million Senior Loan to NR Investments for Acquisition of 10-Story Residential-Commercial Tower in Miami, FL

The Filling Station Lofts, Miami, FL
 New York, NY, Feb. 5, 2013 - PCCP, LLC announced today it provided a $15.5 million senior loan to NR Investments, a private, Miami-based, vertically integrated real estate developer/operator, for the acquisition of The Filling Station Lofts, a partially complete, 10-story mixed-use residential tower located in Miami, FL. 

The tower totals 103,000 square feet and includes 81 loft‐style residential units on a .6‐acre lot within the Edgewater submarket, just one-mile north of Downtown Miami.  CBRE arranged the financing for NR Investments.

The Filling Station’s original developer began construction on the property in September 2006, at the peak of the South Florida Condo boom.

However, the interior build‐out was never finished because of the sharp market decline, contracts were rescinded and the property fell into foreclosure.  NR Investments plans on completing construction within the next year and will lease-up the units as apartments.

Filling Station Lofts Rendering
“NR Investments is a local operator that has a track record of successfully developing, acquiring, and repositioning apartments, condos, and office assets in South Florida,” said Kevin Chin, vice president with PCCP, LLC. “This is an ideal time and opportunity for them to finish construction given the lack of available new supply and strength of the Miami residential market”.

The property is unique because each unit has 18‐foot ceilings, a true mezzanine level and nearly every unit has either a terrace or balcony. Common area amenities will include a pool deck, gym, spa/lounge and 124 covered parking spaces. 

The property is located in the southwestern part of Miami’s Edgewater neighborhood, just north of the high‐rise urban core of Miami and south of the trendy Design District and Wynwood areas.

 For a complete copy of the company’s news release, please contact:

.Darcie Giacchetto
Spaulding Thompson & Associates

MBA Honors Robert M. Stout with 2013 CREF Distinguished Service Award

Robert M. Stout
                      San Diego, CA (Feb. 5, 2013) – The Mortgage Bankers Association (MBA) today awarded Robert M. Stout, CRI, President and CEO of Q10 Capital, LLC, with the 2013 CREF Distinguished Service Award at the Association's 23rd annual Commercial Real Estate Finance(CREF)/Multifamily Housing Convention & Expo held in San Diego, CA.

Barbara W. Still
The award was given to Stout in recognition of his dedication and service to MBA and the real estate finance industry.

 “Bob Stout has dedicated his career to investing in communities and building a stronger, more robust real estate finance industry,” said MBA Chairman Debra W. Still, CMB. “I can think of no one more deserving of the Distinguished Service Award, the highest honor an individual can receive from his or her MBA peers.”

 Nominees for the CREF Distinguished Service Award must be associated with an MBA member firm, have a record of sustained and extraordinary service to MBA and the commercial/multifamily real estate finance industry, and possess a strong reputation of ethical and professional conduct.

Stout has been involved in the real estate industry since 1978, and since 2007 has served as President and CEO of Q10 Capital, LLC, an affiliation of sixteen independently owned commercial and multifamily mortgage banking companies operating in twenty-two markets, coast-to-coast. Collectively, the firms average over $3 billion a year in new loan originations and service a portfolio of approximately $12 billion.

For a complete copy of the company’s news release, please contact:

 Matt Robinson     
(202) 557-2727

Marcus & Millichap Names C. Todd Everett Senior Associate in Fort Lauderdale, FL Office

C. Todd Everett
FORT LAUDERDALE, FL, Feb. 5, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has hired C. Todd Everett as a senior associate in the Fort Lauderdale office, according to Gregory Matus, vice president and regional manager of the office.

In his new position, Everett focuses on the sale of office and industrial properties throughout South Florida. He also holds the title of director of the firm’s National Office and Industrial Properties Group (NOIPG).

Gregory Matus
 “Todd’s in-depth knowledge of the office and industrial investment sales market makes him a tremendous asset to our clients and our firm,’ says Matus.

 “ His thorough understanding of acquisitions and dispositions, tenant and landlord representation, lease and contract negotiation and market research and financial analysis gives Todd a unique perspective on the sale of office and industrial properties.”

For a complete copy of the company’s news release, please contact:

Greg Matus,
Vice President/Regional Manager
(954) 245-3400

CLW Real Estate Services Group Joins Cassidy Turley

Allen McMurtry
WASHINGTON, DC – Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that Tampa, Florida-based CLW Real Estate Services Group has joined the firm and will operate as Cassidy Turley.

The new merger expands Cassidy Turley’s national tenant representation and corporate services capabilities by adding a team of industry veterans who average more than 20 years of experience in commercial real estate.

Joseph Stettinius
While CLW was consistently one of the top commercial real estate services firms in the Tampa Bay market and one of the largest privately held services firms regionally, 60% of its brokerage business is derived from office and industrial tenant representation and corporate services activity outside of Florida and across the U.S.

CLW also brings its Project Leasing, Property Management, Project Management and Seniors Housing services to Cassidy Turley.

Doug Rothschild
“From the beginning, we’ve focused on the addition of top talent that blends seamlessly with our culture,” said Joe Stettinius, Chief Executive Officer of Cassidy Turley.

“With CLW, not only do we achieve that, but we also bolster our efforts to expand tenant representation and corporate services and address clients’ needs across multiple markets.

“This truly is a combination of like-minded firms wholly focused on delivering exceptional service and advice. That combination is a key component to our continued robust growth.”

Lou Varsames
With the merger, CLW Principals Doug Rothschild and Lou Varsames will serve as Executive Managing Directors. Cassidy Turley’s Tampa office will combine with CLW’s existing operations, which include over 20 brokerage professionals and approximately 100 total employees.

For a complete copy of the company’s news release, please contact:

Bailey Webb

Allen McMurtry
Senior Housing Practice Group Leader

Trepp Breaks Down January CMBS Losses By Property Type and Loan Size

NEW YORK, NY -- Trepp HAS released ITSJanuary Loss Analysis, which showed a slight drop in total liquidation volume, an uptick in loss resolutions greater than 2%, and overall loss severity. Today, Trepp breaks down the loss analysis into more detail, specifically by property type and loan size.

In the first table below Trepp breaks out losses by major property type over the last 37 months for all loans. In the second table Trepp eliminates loans with losses of less than 2% of the loan balance, and again submit losses by major property type.

Average Loss Severity by Property Type for Last 37 Months - All Loans

Average Loss Severity by Property Type for Last 37 Months - Losses > 2% of Loan Balance

For a complete copy of the company’s news release, please contact:

Eric R. Gerard
Senior Vice President
Great Ink Communications
27 Union Square West, Suite 205
New York, NY 10001
(212) 741-2977