American Healthcare Investors Facilitates Acquisition of Five Medical Office Buildings 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 the acquisition of five medical office buildings by the REIT for an aggregate purchase price of approximately $46 million.

 The acquired buildings are near Denver, Colorado; Atlanta, Georgia; Indianapolis, Indiana; and Detroit, Michigan.

The REIT’s portfolio currently totals 153 buildings valued at approximately $1.42 billion, based on purchase price, diversified across 28 states and all four clinical asset classes: medical office buildings, skilled nursing facilities, hospitals and assisted living facilities. 

Since Jan. 1, 2012, the portfolio has grown by approximately 223 percent, based on purchase price.  As of Dec. 31, 2012, the Griffin-American Healthcare REIT II property portfolio was 96.6 percent leased with a weighted average remaining lease term of approximately 9.5 years and leverage (total debt divided by total assets) of 32.9 percent.

“A key component of our acquisition strategy for Griffin-American Healthcare REIT II is to purchase quality medical office buildings that are located on or near thriving hospital campuses and that enjoy strong affiliations with the nation’s best performing healthcare delivery systems,” explained Danny Prosky, a principal of American Healthcare Investors and president and chief operating officer of the REIT.

 “Each of these acquisitions meet these high standards and further strengthen our balanced portfolio of clinical healthcare real estate assets.”

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

Damon Elder

SVP, Marketing & Communications

American Healthcare Investors

(949) 270-9207 direct

(949) 356-1460 cell

delder@ahinvestors.com

www.GriffinCapital.com

www.HealthcareREIT2.com

www.AmericanHealthcareInvestors.com

Marcus & Millichap Announces Sale of Church Avenue Apartments in Tampa, FL for $665,000

  

Casey Babb

 TAMPA, FL, April 5, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Church Avenue Apartments, a 19-unit apartment community located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset commanded a sales price of $665,000 which equates to $35,000 per unit.

Casey Babb, CCIM and senior multifamily specialist and Luis Baez, associate, both in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor from Miami. 

Earle Hyman, a senior vice president investments and Nicholas Meoli multifamily specialist in the firm’s Encino and Tampa offices represented the California-based 1031-exchange buyer.

Church Avenue Apartments was built in 1971 and is located at 6408 North Church Avenue.  The community is set within a cul-de-sac in a ‘park-like’ setting.  Units are housed in nine villa-style buildings totaling 19 residences and are situated on 2.5 acres. 

Nicholas Meoli

There is a mix of eighteen two-bedroom/one bath units and one three-bedroom/one-bath unit. Units feature private parking, private backyards and some screened patios and washer/dryer connections.

“This offering, as with others we have sold recently, commanded interest from multiple investors and a competitive bidding situation which helped the seller secure a contract,” says Baez.

Earle J. Hyman

“The property closed at 98 percent of the asking price after only a two-week marketing process.  Traditionally, real estate has not been a liquid asset, but right now we are finding that investment real estate in general, and multifamily in particular, is very liquid which is good if you are thinking about selling,” continues Baez.

   

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

Richard D. Matricaria

Regional Manager,

Tampa, FL

(813) 387-4700

Lauren Brouillet, Robin Civish and Jennifer Levine join Voit’s Las Vegas office.

  

Lauren Brouillet

Las Vegas, NV–Voit Real Estate Services’ Las Vegas office is continuing to expand in the greater Las Vegas market with the addition of three new top-producing brokers, according to Executive Managing Director Mark Read.

Lauren Brouillet and Robin Civish, both specialists in retail sales and leasing, and Jennifer Levine who specializes in industrial have joined the firm as Senior Associates.

“As Voit continues to expand the Las Vegas team, we are working to increase our depth of expertise and reputation in the market,” says Read. 

“Voit’s Las Vegas office was founded by the top industrial and retail brokers in our region, including Kevin Higgins and Kit Graski, and we are committed to hiring brokers who will provide the opportunity to create additional solutions for our clients.”

Jennifer Levine

Prior to joining Voit, Brouillet, Civish and Levine were with NAI Global where they were all highly respected brokerage professionals. Before NAI, Brouillet spent five years with Grubb & Ellis as part of a top-producing retail team. Brouillet is a graduate from the University of Nevada, Las Vegas with a Bachelor of Science in Business Marketing.

Civish was with Prudential CRES-IPG which merged with Cushman & Wakefield prior to her time at NAI and before that spent 17 years with The Vista Group. Civish is a graduate from the University of Nevada, Las Vegas with a Bachelor of Science in Business Marketing.

Robin Civish

Before NAI, Levine was with Cushman & Wakefield as well as Grubb & Ellis where she specialized in the sale and leasing of industrial properties as well as land acquisition and more. Levine earned her Bachelor of Arts from the University of California, Berkeley and her Master of Arts from the University of California, Los Angeles.

  

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

Jessamyn Miller  

Voit Real Estate Services

949-566-6422

jjmiller@voitco.com

www.voitco.com.

Marcus & Millichap Names Brian Hosey Sales Manager in Manhattan Office

Brian Hosey

NEW YORK, NY – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Brian Hosey sales manager of its Manhattan office, according to J.D. Parker, vice president and regional manager of the firm’s Manhattan office.

“Brian has extensive commercial real estate experience as an investment specialist,” says Parker. “An accomplished agent who has grown along with Marcus & Millichap, he will be an asset to our Manhattan brokerage team.”

JD Parker

Hosey has been an associate agent in the Manhattan office since September 2010. His product specialty is multifamily and mixed-use properties. As an agent, Hosey was an associate member in the firm’s National Multi Housing Group and he earned a sales recognition award.

Hosey graduated magna cum laude from Syracuse University with dual degrees in business and communications.

  

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

Ben Johnson,

Marketing Director

(925) 953-1736

Marcus & Millichap Promotes Ron Duong to Associate Vice President Investments

Ron Duong

NEWPORT BEACH, CA, April 5, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Ron Duong to associate vice president investments.

 The achievement represents excellence in the development and servicing of long-term client relationships, according to Joseph Cesta, regional manager of the firm’s Newport Beach office.

            Duong joined the firm in August 2004 and was promoted to associate in May 2006. He is a director of the firm’s National Retail Group.

  

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

Ben Johnson,

Marketing Director

(925) 953-1736

The Bascom Group Acquires 352 Multifamily Units in Greater Phoenix for $35.2 Million

The Fairways Apartments, Chandler, AZ

CHANDLER, Ariz., April 5, 2013 – Marcus & Millichap Real Estate Investment Services Inc. has arranged the sale of The Fairways, a 352-unit apartment community located on the San Marcos Golf Resort in Chandler, Ariz., part of the Greater Phoenix metropolitan area. 

The $35,215,500 sales price equates to $100,044 per unit.

Steve Gebbing

Cliff David, vice president investments and Steve Gebing, also vice president investments, both in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, Situs Holdings LLC.

The buyer is The Bascom Group LLC of Irvine, Calif. in coordination with its local affiliate, Bascom Arizona Ventures LLC of Scottsdale, Ariz.

“Developed in two phases by two distinctly different developers, The Fairways features some of the most unique property characteristics and architectural advantages found within the Greater Phoenix multifamily market, particularly among assets built during the 1980s and 1990s,” says David.

Cliff David

            Constructed in 1986 and 1996, the property is located at 777 West Chandler Blvd., less than one mile west of historic downtown Chandler, a part of the city that has benefited tremendously from recent and ongoing gentrification efforts.

The Fairways features intelligently designed one-, two- and three-bedroom apartment homes averaging 965 square feet. Apartment interiors include fully equipped electric gourmet kitchens with full breakfast bar, nine-foot ceilings, full-sized washers and dryers, spacious walk-in closets and comfortable private patios or balconies. 

Select apartment homes also feature a wood-burning fireplace, vaulted ceilings, separate storage space, tuck-under carports, direct-access garages and lightly upgraded interior finishes.

 

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

Ben Johnson,

Marketing Director

(925) 953-1736

UOB Eagle Rock Acquires Clemens Place Apartments in Hartford, CT for $29.5 Million

  

Clemens Place Apartments
Hartford, CT

HARTFORD, CT – Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has arranged the sale of Clemens Place Apartments, a 597-unit multifamily complex in Hartford, Conn. The revitalized 1920s-style community commanded a selling price of $29.5 million. 

            IPA executive directors Steve Witten and Victor Nolletti advised the seller, Intown West Associates Limited Partnership and Westtown LLC.  The buyer is UOB Eagle Rock Multifamily Property Fund LP.

Steve Witten

            “Hartford has become a highly sought after market for multifamily investment in New England,” says Nolletti.  “There is no finer example of an architecturally renovated, well-stabilized and respected apartment community than Clemens Place Apartments.”

            “Clemens Place is poised for significant rental growth and appreciation in a historically robust—high demand—apartment market,” adds Witten. “This exceptionally well-maintained asset provides residents with a hip urban address in Hartford’s high-growth West End neighborhood.”

Victor Nolletti

Known locally as “The Pride of Hartford,” the property consists of 597 units: 595 apartments and two commercial spaces in 42 carefully renovated buildings, 31 of which are on the National Register of Historic Places. 

The 17-acre site is graced with stone reliefs, ornamental streetlights, brick, stone and ivy-lined walkways, wrought iron balconies and tasteful landscaping. 

Clemens Place Apartments is one block from Interstate 84 and within walking distance of the University of Connecticut Law School, Hartford College, Mark Twain House, Hartford Seminary and numerous restaurants and shops.

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

Ben Johnson,

Marketing Director

(925) 953-1736

55 Allen Plaza in Atlanta, GA Earns BOMA 360 Designation in Recognition of Excellence in Building Management

  

55 Allen Plaza, Atlanta, GA

 ATLANTA, GA – 55 Allen Plaza, a Class-A, 350,000-square-foot office tower in downtown Atlanta that is managed and leased by Lincoln Property Co. Southeast (Lincoln), has been designated a BOMA 360 Performance Building by the Building Owners and Managers Association (BOMA) International.

The BOMA 360 Performance Program recognizes commercial properties that demonstrate best practices in building operations and management. Fewer than 50 buildings in Georgia have earned the designation.

 “We at Lincoln are thrilled that 55 Allen Plaza has received this honor,” said Shane Froman, vice president of property management for Lincoln. 

Shane Froman

“We pride ourselves on providing best-in-class service to our property-owner clients and their tenants, and this high-profile honor is a wonderful validation of the outstanding work our team has been doing at 55 Allen Plaza.”

 “We are proud to designate 55 Allen Plaza as a BOMA 360 Performance Building in recognition of the high standards the management team has achieved in every aspect of building operations and management,” said BOMA International Chair and CBRE Managing Director Joseph W. Markling. 

Joseph W. Markling

“By achieving the BOMA 360 designation, the management at 55 Allen Plaza has demonstrated to its owner, tenants, prospective tenants and the community that this property is being managed to the highest standards of excellence.”

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

Stephen Ursery

The Wilbert Group

404-965-5026

sursery@thewilbertgroup.com

Colliers Names Mort Fetterolf Director of Industrial Services for South Florida

Mort Fetterolf

MIAMI, FL - Colliers International South Florida is pleased to announce that Mort Fetterolf has become the Director of Industrial Services at the firm. Fetterolf has represented the interests of corporate real estate users and owners for 15 years. His transaction history covers a wide range of services including sales, leasing, portfolio management and development.

"In my new role as the Director of Industrial Services, I look forward to building on the momentum of the Colliers platform in South Florida," says Fetterolf. "Our mission is to deliver results for our clients while providing best in class service."

"Mort has accelerated the success of our clients by providing his special knowledge of the industrial marketplace in South Florida and matching that with service excellence." says Stephen Nostrand, CEO.

Stephen Nostrand

 "That has resulted in him and his team closing over 400,000 square feet of assignments in 2012. Mort has established a solid foundation for our Industrial Platform and continues to expand our capabilities and our expertise through new experienced brokers joining that effort."

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

Crystal Proenza

Vice President of Marketing

Colliers International South Florida

Commercial Real Estate Services

Tel: 305 476 7138

Email: crystal.proenza@colliers.com

www.colliers.com

AECOM Leases 7,054 SF in One MetroCenter at MetWest International in Tampa, FL

Angela Odell

 TAMPA, Fla.  –AECOM Technology Corporation has signed a lease for 7,054 square feet at One MetroCenter in Tampa’s Westshore Business District. The lease negotiated by Taylor & Mathis Director of Leasing, Angela Odell, brings the office building’s occupancy to 90%.

Strong, stable ownership was a key factor in the firm’s decision to relocate to One MetroCenter.  The Fortune 500 Company is consolidating two existing offices to new offices at One MetroCenter.  The 11-story building is part of MetWest International, a mixed-use development owned by MetLife. The lease was co-brokered by Jack Hoskins of CBRE.

  

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

Angela Odell,

Taylor & Mathis,

 (813) 875-7950

aodell@taylormathis.com

Stan Johnson Co. Completes $6 Million Sale of Best Buy in Modesto, CA

                   

Rod Pickney

TULSA, OK – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the $6 million sale of a 45,950-square-foot retail property 100% leased to and guaranteed by Best Buy Co. Inc. located on 4.17 acres in Modesto, Calif.

Rod Pickney and Chad Byerly of Stan Johnson Company represented the seller in this transaction. The property featured an original 20-year Absolute NNN lease term with approximately seven years remaining with no landlord responsibilities. 

Chad Byerly

The lease offered three, five-year renewal options with rental increases every five years.

The property is located in a dense retail corridor just off of State Highway 99 and Sisk Road in Modesto, California.

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

David Ebeling                       

Ebeling Communications

(949) 278-7851

david@ebelingcomm.com                       

Stan Johnson Co.’s Team Corriston Closes $17.5 Million in First Quarter

                     

Brian Corriston

 HOUSTON, TX  – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, had a brokerage team complete the sale of five investment properties for a total of $17.5 million in sales the first quarter of 2013.  These five properties included medical, office and industrial segments. 

                Brian Corriston of Stan Johnson Company represented the seller in the following transactions:  

a 8,500-square-foot medical/office property 100% leased to Davita, Inc. located on .19 acres in Beeville, Texas for $1,450,000; 

a 14,000-square-foot medical property 100% leased to Fresenius Medical Care located in Dallas, Texas for $1,762,000; 

a 55,519-square-foot office property 100% leased to United Healthcare located on 7.10 acres in Harlingen, Texas for $2,340,000; 

and a 27,840-square-foot government office property 100% leased to GSA/Social Security Administration located on 2.20 acres in Stancliff (Houston), Texas for $ 8,000,000. 

                Brian Corriston also represented the buyer in a 22,500-square-foot industrial property transaction that was 100% leased to Express Energy Services located on 8.0 acres in Williston, North Dakota for $3,919,831.

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

David Ebeling                       

Ebeling Communications

(949) 278-7851

david@ebelingcomm.com