HFF closes sale of Northstar Lodge, a Hyatt Residence Club in Truckee, CA

Northstar Lodge, Truckee, CA

SAN FRANCISCO, CA – HFF announced today that it has closed the sale of the Northstar Lodge, a Hyatt Residence Club in Truckee, California.  The transaction includes the 23 remaining unsold whole-ownership and fractional residential units, in addition to two entitled development parcels for future phases of the project. 

Holden Lim

HFF marketed the asset on behalf of the seller, LTMR Properties, LLC.  Welk Resort Group purchased the offering for an undisclosed amount free and clear of existing debt.

                The Northstar Lodge, a Hyatt Residence Club, is a ski-in/ski-out private residence club situated at the base of Northstar Mountain in Truckee, California.  Completed in 2008, the first phase of this LEED Silver luxury property features 34 two- and three-bedroom units totaling 51,602 square feet. 

Scott Hall

The club amenities include a private ski & boot valet, swim & fitness center, owners’ lounge and plaza, and media room. 

The adjacent development parcels are entitled for an additional 67 units totaling 102,619 square feet.  

                The HFF investment sales team representing the seller was led by managing directors Holden Lim and Scott Hall.

                “We were pleased to represent the seller in this important assignment, our third transaction in Northstar this cycle.  The Northstar Lodge is one of the finest ski resort residence clubs in the country and presents the new owners with a myriad of value-add execution alternatives,” noted Hall.

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

krmurphy@hfflp.com

HFF closes $100 million sale of Class A office tower in San Francisco

100 Spear St.,
San Francisco, CA

SAN FRANCISCO, CA – HFF announced today that it has closed the sale of 100 Spear Street, a Class A office tower totaling 203,071 square feet in San Francisco, California.

HFF marketed the property on behalf of the seller, Clarion Partners.  Prudential Real Estate Investors purchased the property for $100 million.

Originally developed by HKS in 1984, the 21-story tower is LEED Gold certified and is 91.5 percent leased to 41 tenants, including several high-profile professional service and technology companies. 

Since 2009, more than $4.5 million has been invested into the property including a substantial lobby renovation, fire-life-safety system upgrades and modernization of the elevator systems. 

Gerry Rohm

The building is located at the intersection of Market Street in San Francisco’s South Financial District, one block from the future Transbay Transit Center, which will be the largest transportation hub ever built on the West Coast.

The HFF investment sales team representing the seller was led by senior managing directors Gerry Rohm and Michael Leggett and director Dave Karol.

Michael Leggett

Clarion Partners has been a leading U.S. real estate investment manager for more than 30 years. Headquartered in New York, the firm has offices in major markets throughout the U.S., in S͠ão Paulo, Brazil and London, England as well as a presence in Mexico. 

With more than $27 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors.  More information about the firm is available at www.clarionpartners.com.

Dave Karol

                September 30, 2012, PREI managed approximately $51.2 billion in gross real estate assets ($34.6 billion net) on behalf of more than 490 clients worldwide.  For more information, visit http://www.prei.com.

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

krmurphy@hfflp.com

. HFF closes sale of Whole Foods at Bay Place in Oakland, CA

Whole Foods at Bay Place, Oakland, CA

SAN FRANCISCO, CA – HFF announced today that it has closed the sale of Whole Foods at Bay Place, a newly-constructed, 57,218-square-foot, Class A retail property in Oakland, California.

                HFF marketed the property on behalf of Bond Companies.  The buyer purchased the property free and clear of existing debt.

                Whole Foods at Bay Place is located at 230 Bay Place at the intersection of Harrison Street in Oakland near Lake Merritt.  Completed in 2007, the property is 100 percent leased to Whole Foods.

Nicholas Bicardo

Constructed of steel and concrete, the building incorporates a portion of the former Cox Cadillac Showroom and also includes a roof deck parking structure.

                The HFF team representing the seller was led by managing director Nicholas Bicardo along with executive managing director Matthew Lawton and associate director Mark Damiani.

                “On the West Coast, there continues to be a dearth of quality retail properties on the market like Whole Foods at Bay Place, and an insatiable amount of capital,” says Bicardo. “This acquisition for the buyer represents a fantastic purchase of a trophy building occupied by a credit top-tier grocer with some of the strongest sales productivity in the world.”

Matthew Lawton

                Bond Companies is a national real estate value-add and development company with offices in Los Angeles and Chicago that focuses on enhancing cities, while leaving a positive, sustainable and lasting legacy for future generations to enjoy.

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

krmurphy@hfflp.com

Northeast Private Client Group Wins 2012 CoStar Power Broker Award

.

Edward Jordan

 WHITE PLAINS, NY and  BRIDGEPORT, CT, March 7, 2013 – Investment sales broker Northeast Private Client Group has been selected by CoStar Group, Inc. (NASDAQ: CSGP), commercial real estate's leading provider of information and analytics, as CoStar’s “Power Broker Award” winner for 2012.

 This annual award recognizes the “best of the best” in commercial real estate brokerage by honoring the firms and brokers who closed the highest transaction volumes in commercial property sales in their respective markets.

Northeast Private Client Group qualified as one of the top commercial brokerage firms of 2012 in the Westchester/Southern Connecticut region based on its volume of $65 million in total investment sales transactions closed in the region last year.  

Northeast Private Client Group completed the following major transactions in 2012: a $7.5m sale of a grocery-anchored shopping center in New Haven, CT;  a $5m sale of a 164-unit apartment complex in Bridgeport, CT;  and a $4.75m sale of a seven-building multifamily portfolio in Greenwich, CT.

 “I’m extremely proud of our entire Northeast PCG team,” says Edward Jordan, JD, CCIM, the firm’s managing director.  “Over the past three years, we’ve recruited and developed a number of talented young professionals in our White Plains and Bridgeport offices, who have helped contribute to our success.  We’re grateful for this acknowledgement within the industry.”

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

Rick Leonard

rleonard81@gmail.com

203.434.7734

 www.costar.com.

www.northeastpcg.com

Trepp February Payoff Report: Percentage of Loans Paying at Maturity Remains Above 60%

NEW YORK, NY -- According to the Trepp January Payoff Report, the percentage of loans paying off on their balloon date has exceeded 60% for the fifth time in the last six months.

 In February, 61.8% of loans reaching their balloon date paid off--a decrease of about five percentage points from the January reading.

The February rate of 61.8% is well above the 12-month moving average of 49.2%. (This number sums the averages of each month and divides by 12, there was no balance weighting across the months.)

Six months ago, we noted that the payoff rate could move to the upside for the remainder of 2012. We mentioned that loans reaching their maturity date would likely be more heavily populated with loans from earlier vintages, and that assets from that time frame were made with lower leverage and more reasonable valuations.

The result should be better payoff numbers. Data from the past six months has confirmed this trend.

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

$10.5 Million Retail Center Trades Hands in Metro Atlanta

  

Lanier Crossing, Cumming, GA

 CUMMING, GA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Lanier Crossing, an 111,000-square foot Hobby Lobby-anchored shopping center in Cumming, Ga., part of the Atlanta metropolitan area. 

The sales price of $10,575,000 equates to $96 per square foot.

The property is located on 13.6 acres at the intersection of Highway 9 and Highway 20 at 655 Atlanta Road in Cumming.

Howard Bregman

 Howard Bregman, an associate, and Brandon Rex, a vice president investments, both in Marcus & Millichap’s Fort Lauderdale office, represented the seller, Infinity Property Fund. Rex and Bregman also represented the Northeast-based buyer. 

Brandon Rex

John Leonard, first vice president and regional manager of the firm’s Atlanta office, is Marcus & Millichap’s broker of record in Georgia.

            “Lanier Crossing received a significant amount of interest from a variety of investors,” says Rex. “The property is located on a high-profile corner in an area with excellent demographics.”

“The center has had an average occupancy of more than 90 percent over the past 10 years,” adds Bregman. “It is a stable investment property with diverse mix of national and local tenants that well serves its community’s needs.”

John Leonard

“Hobby Lobby occupies 49 percent of the gross leasable area and is in the midst of its first five-year option with one five-year option remaining,” Bregman continues.

 “The buyer needed assurances that Hobby Lobby would probably remain in the center and in the unlikely event it decided to leave, what were the options and what other interested big box tenants there might be.

“We also forecast future refinancing models for the buyer as there was a CMBS loan assumption tied to expiration of the Hobby Lobby’s lease option,” Bregman concludes.

  

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

Ben Johnson,

 Marketing Director

(925) 953-1736

American Healthcare Investors Facilitates Acquisitions in Colorado, Louisiana and Texas on Behalf of Griffin-American Healthcare REIT II

Danny Prosky

NEWPORT BEACH, CA– American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT II, Inc., announced today the acquisition of five medical office buildings by the REIT for an aggregate purchase price of approximately $47 million.

 The acquired buildings are located in Greeley, Colorado; Ruston, Louisiana; and Abilene, Texas. 

Currently, the REIT’s portfolio totals 148 buildings valued at approximately $1.4 billion, based on purchase price, diversified across 27 states.  Since Jan. 1, 2012, the portfolio has grown by approximately 213 percent, based on purchase price. 

As of Sept. 30, 2012, the Griffin-American Healthcare REIT II property portfolio was 96.8 percent leased with a weighted average remaining lease term of approximately 9.4 years and leverage (total debt divided by total assets) of 32.8 percent.

“Since the beginning of 2012, our nationwide portfolio of medical office buildings, hospitals, skilled nursing facilities and assisted living facilities has more than tripled, based on aggregate acquisition price,” said Danny Prosky, a principal of American Healthcare Investors and president and chief operating officer of the REIT.

 “With each acquisition, Griffin-American Healthcare REIT II becomes more broadly diversified as we execute our strategic plan to build a well-balanced portfolio of clinical healthcare-related real estate.”

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

Damon Elder

Senior VP, Marketing & Communications

American Healthcare Investors

4000 MacArthur Boulevard

West Tower, Suite 200

Newport Beach, CA 92660

(949) 270-9207 direct

(714) 356-1460 cell

delder@ahinvestors.com

www.AmericanHealthcareInvestors.com