Thursday, April 18, 2013

FrontDoor Communities Bolsters its Florida Operations with Two New Hires


Bill Fox

ATLANTA, GA -- FrontDoor Communities announced it has expanded its central / south Florida office with the addition of Mike Taylor as division vice president and Bill Fox as project manager. Both Taylor and Fox are industry veterans who bring extensive experience in real estate and construction to their new roles.

“We are extremely excited to welcome these two dynamic industry veterans to the FrontDoor team,” said Terry Russell, CEO and partner. “Expanding our presence and capabilities in the vibrant central and south Florida markets is a priority for us, and I’m confident Mike and Bill will be invaluable assets to our company.”

Mike Taylor
As division vice president, Taylor will oversee real estate acquisitions, development, sales and homebuilding throughout Florida.

 He brings more than 25 years of experience to FrontDoor. Previously, Taylor served as chief operating officer at Charter Restoration where he sourced new business opportunities within the multi-family, commercial real estate and hospitality markets.

He holds a bachelor’s degree in marketing from Indiana University and is an active member of the Northeast Florida Builders Association and Urban Land Institute. Taylor has also served as chair of the Northeast Florida Sales and Marketing Council.

Terry Russell
 In Fox’s new role as project manager, he will provide executive hands-on management for several FrontDoor development projects. Before joining FrontDoor Communities, Fox was a general manager at Grayhawk Homes of Iowa, Inc. In this role, he was responsible for restructuring the company for expansion into other markets.

 Fox oversaw plan development, lot acquisitions, construction, sales and more. Throughout his career, he has been responsible for several facets of development.

Fox has a bachelor’s degree in construction technology and an A.A.S. degree in architectural technology from Purdue University. He has served in the United States Marine Corps.

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

Leigh Taylor
The Wilbert Group
404-263-9415

Posted by Alex at 2:05 PM 0 comments

HFF closes sale of CityCenter of CityNorth in Phoenix, AZ




CityCenter of CityNorth, Phoenix, AZ 


Ryan Gallagher
IRVINE, CA – HFF announced today that it has closed the sale of the CityCenter of CityNorth, an approximately 630,000-square-foot mixed-use project in Phoenix’s Desert Ridge master planned community.

CJ Osbrink
HFF marketed the property on behalf of the seller.  Portland-based private real estate firm ScanlanKemperBard and a private investment fund managed by Wayzata Investment Partners LLC (“Wayzata”) through the newly-formed City North Associates LLC purchased the asset.

Lee & Associates acted as the local market leasing team on the transaction. 

Ryan Fitzpatrick
CityCenter of CityNorth is located at 5310-5455 High Street along Loop 101 in northeast Phoenix. 

Completed in 2008, the property includes 99 condominium rental units, approximately 330,000 square feet of Class A office space, approximately 175,000 square feet of retail space, nearly five acres of undeveloped land and a six-level parking structure. 

The HFF investment sales team was led by senior managing director Ryan Gallagher and associate director CJ Osbrink along with director Ryan Fitzpatrick, managing director Bryan Ley, senior managing director Jim Batjer and managing director Mark Wintner. 

Bryan Ley
The Lee & Associates team representing the buyer was led by principals Chris Krewson and Mike Garlick.

ScanlanKemperBard Companies (“SKB”) was established in Portland, Oregon in 1993 with the intent of capitalizing on the real estate experience, skills and vision of its founders.

 Since that time, SKB has become one of the region’s leading real estate private equity firms specializing in projects ranging in total capitalization from $5 million to $100 million located throughout the western United States.

Mark Wintner
Lee & Associates Arizona specializes in providing exceptional commercial brokerage services to the industrial, office, land and investment sectors of the Phoenix commercial real estate market. 

The Phoenix office was established in 1991 and is now recognized as one of the most successful brokerage firms in the state.  Each of the 47 nationwide Lee & Associates offices has a strong local ownership combined with a powerful platform from the national Lee & Associates network.
. 
 For a complete copy of the company’s news release, please contact:

Olivia Hennessey
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
ohennessey@hfflp.com

Posted by Alex at 1:54 PM 0 comments

HFF closes $29 million sale of development site on Biscayne Bay in Miami, FL




 4.5-acre development site along Biscayne Bay in Miami, Florida.

MIAMI, FL – HFF announced it has closed the sale of a 4.5-acre development site along Biscayne Bay in Miami, Florida.

Mannuel
de Zarraga
                HFF marketed the property exclusively on behalf of the seller, Equity Residential.  The Related Group purchased the site for $29 million. 

                The property is located between NE 31st and NE 32nd Street in the Biscayne Corridor close to the American Airlines Center, Arsht Center and downtown Miami. 

The 3.1-acre south parcel abuts Biscayne Bay with 180 linear feet of water frontage.  The north parcel has 1.4 acres and can be developed with a maximum of 219 residential units.  

Jaret Turkell
Once developed, the units will feature direct views of Biscayne Bay, Miami Beach, downtown Miami and Brickell and the Atlantic Ocean.

                The HFF investment sales team representing the seller was led by executive managing director Manuel de Zárraga and director Jaret Turkell, and supported by real estate analysts Scott Wadler and Maurice Habif.

“This is a favorable transaction for both parties and further evidences the strength of the Miami real estate market,” said Turkell.   

Biscayne Bay, Miami, FL
HFF’s Florida multi-housing and land group has closed more than $780 million of multi-housing transactions for the 12 months ending December 31, 2012, and the firm was also ranked as a top capital markets intermediary nationally by the Mortgage Bankers Association for the past five years.

 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

Posted by Alex at 1:37 PM 0 comments

HFF closes sale of and arranges financing for Class A office property in Dallas, TX area





MacArthur Center I and II, Irving, TX

DALLAS, TX – HFF announced it has closed the sale of MacArthur Center I & II, a 302,459-square-foot, Class A office complex in Irving, Texas on behalf of a specialty finance company for an undisclosed amount. 

HFF also represented the purchaser, JP Realty Partners, Ltd., in arranging acquisition financing with Capital One Bank.

MacArthur Center I & II is located at the intersection of State Highway 114 and MacArthur Boulevard in the Las Colinas submarket.

 The 300,000-plus, rentable square foot complex is situated on a 6.3-acre site and is more than 94 percent leased to tenants including OneSource VHR and Molina Healthcare.

The Las Colinas submarket, east of DFW International Airport, is one of the largest business centers in the Dallas market and is home to corporations such as ExxonMobil, Kimberly-Clark, Zales and Fluor.
   
 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

Posted by Alex at 1:25 PM 0 comments

$37.95 million financing for five-property multi-housing portfolio arranged by HFF


Willow Pointe Apartments, 1701 Salem Road, Burlington, NJ 


FLORHAM PARK, NJ - HFF announced it has arranged $37.95 million financing for five garden-style multi-housing properties totaling 727 units in various New Jersey locations.

Jon Mikula
                HFF worked exclusively on behalf of the borrower, The PRC Group, to secure the loans in two separate transactions.  The first $22.2 million loan for three of the properties was placed with The Provident Bank of Iselin, New Jersey.  The other $15.75 million loan for the remaining two properties was placed with Columbia Bank. 

                The portfolio is 100 percent leased.  Individual properties details are listed below:

  • Grandville Towers 19 Morford Place, Red Bank  91 Units
  • Clifton Arms  220-240 9th Street, Lakewood  64 Units
  • Farmingdale Gardens 1 West Main Street, Farmingdale 176 Units
  • Sunset Heights 1130 Sunset Road, Burlington 120 Units
  • Willow Pointe1701 Salem Road, Burlington 276 Units
Jim Cadranell
                 The HFF team representing the borrower was led by senior managing director Jon Mikula and managing director Jim Cadranell. 

 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

www.prcgroup.com.

Posted by Alex at 1:17 PM 0 comments

$150 million construction loan arranged by HFF for Los Angeles mixed-use development




Runway mixed-use project rendering, Playa Vista, CA 

LOS ANGELES, CA - HFF announced it has arranged $150 million in construction financing for Runway, an urban, mixed-use development in the West Los Angeles community of Playa Vista. 

David
Binswanger
                The development team of Lincoln Property Company and Phoenix Property Company has begun construction on the site, which will consist of 420 multi-housing units and approximately 250,000 square feet of mostly retail space. 

Scheduled for a grand opening in 2014, Runway will be anchored by a first-class slate of retail tenants that include Whole Foods, Cinemark Theaters and CVS.

                HFF worked on behalf of the borrower to secure the loan through a syndicate of banks led by Bank of America.  HFF also arranged the equity financing through Alcion Ventures, a Boston-based real estate private equity firm. 

Doug Bond

                David Binswanger, executive vice president of Lincoln Property Company, commented, “Our company has been involved with Playa Vista since 2006 when we developed more than 800,000 square feet of creative office space in Playa Vista.  

"We are excited to have partners who have the same vision as we do, and we look forward to continuing our commitment to the community by offering a visionary project that will be Playa Vista’s ‘Town Center.’”

                Runway will be the entertainment and retail hub of Playa Vista, the first new community to be established on the westside of Los Angeles in more than 50 years. 

                “We are very excited to have capitalized the development of Runway and look forward to seeing the energy and excitement that will follow its successful completion,” said Doug Bond, senior managing director of HFF in Los Angeles, who represented the sponsors in this transaction.

 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

Posted by Alex at 12:44 PM 1 comments

ExxonMobil Chemical Co. Headquarters in Houston’s Energy Corridor on the market



ExxonMobil Chemical Company Headquarters campus 
in Houston’s Energy Corridor

Robert
Williamson
HOUSTON, TX – As the appointed real estate advisor, HFF announced it is marketing the ExxonMobil Chemical Company Headquarters campus in Houston’s Energy Corridor.  ExxonMobil Chemical Company is a division of Exxon Mobil Corporation.

                HFF is marketing the property on behalf of ExxonMobil, who will consider all options that maximize the value of this unique asset.

Davis Adams
In addition to 352,170 rentable square feet of improvements consisting of an office building and conference center, the ExxonMobil Chemical Company campus, located at 13501 Katy Freeway, features 1,000 feet of frontage on Interstate 10 and 800 feet of frontage on Memorial Drive.

Wally Reid
 The property is situated on approximately 35 acres in the heart of Houston’s Energy Corridor, adjacent to the BP America Headquarters, across Interstate 10 from both ConocoPhillips and Shell Oil’s North American Exploration and Productions headquarters, and within a mile of Mustang Engineering and Dow Chemical. 

                The HFF investment sales team representing the seller is led by senior managing director Robert Williamson and managing director Davis Adams.

Colby Mueck
                The HFF debt team will be led by senior managing director Wally Reid and director Colby Mueck.

   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

Posted by Alex at 12:25 PM 0 comments

HFF closes sale of Marketplace at Highland Village in suburban Dallas, TX




Marketplace at Highland Village, Highland Village, TX 

 DALLAS, TX – HFF announced it has closed the sale of Marketplace at Highland Village, a 195,652-square-foot power center in Highland Village, Texas.

Jim Batjer

                HFF marketed the property on behalf of the seller, Founders Properties, L.L.C.  DDR Corp. purchased the asset for an undisclosed amount free and clear of existing debt.

Marketplace at Highland Village is located on the northeast corner of F.M. 2499 (Village Parkway) and F.M. 407 (Justin Road) approximately 30 miles northwest of downtown Dallas.  

Completed in 2007, the property is 90 percent leased to tenants including TJ Maxx, LA Fitness, Office Depot and Petco.  The property is shadow-anchored by a separately owned 203,000-square-foot Wal-Mart Super Center.

Barry Brown
                The HFF team representing the seller was led by senior managing directors Barry Brown and Jim Batjer.

Headquartered in Minneapolis, Founders Properties, L.L.C. is a privately held company that provides a full range of acquisition, financing, asset management and investment services for high-net-worth investors.  The company’s current portfolio of approximately 100 institutional grade properties includes office, industrial, retail and mixed-use projects located throughout the United States.

DDR Corp. is an owner and manager of 454 value-oriented shopping centers representing 116 million square feet in 39 states, Puerto Rico and Brazil. 

  The company's assets are concentrated in high barrier-to-entry markets with stable populations and high growth potential and its portfolio is actively managed to create long-term shareholder value.  DDR is a self-administered and self-managed REIT operating as a fully-integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol DDR.  Additional information about the company is available at www.ddr.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

Posted by Alex at 12:11 PM 0 comments

A Growing Trend: Stan Johnson Co. Completes Sale of Atlanticare Data Center after Competitive Bid Process


  

AtlantiCare Health System, Inc., Egg Harbor Township, NJ


NEW YORK, NY (April 18, 2013)– In a transaction that highlights the fast-growing popularity of mission critical data centers among real estate buyers,  Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has structured the sale of a key facility 100 percent leased to 

Camille Renshaw
The property, located at 6725 Delilah Road in Egg Harbor Township, New Jersey, sold for $5.65 million after a heated bid process due to its high quality real estate, strong credit tenant, and long-term lease that featured 11 years remaining.

Camille Renshaw and Tom Georges of Stan Johnson Company represented the seller, a private developer, and the buyer, Gladstone Companies (NASDAQ: GOOD).

AtlantiCare is the region’s largest healthcare organization, including three hospital campuses and over 60 locations.  Its +/-29,257SF data center is located in Egg Harbor Township is a mission-critical location that is geographically central to AtlantiCare’s expansive system. 

Tom Georges
“Data centers are becoming smaller, more energy efficient, and more mission critical as cloud technologies evolve and the size of equipment shrinks,” said Camille Renshaw, director and lead broker in Stan Johnson’s New York City office.

 “The mission critical aspect of the real estate, coupled with the geographical importance of the site, appeals strongly to institutional buyers as they expand in the data center sector.” 

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

 David Ebeling
Ebeling Communications
(949) 278-7851                    
david@ebelingcomm.com

Posted by Alex at 11:51 AM 0 comments

Colliers International South Florida REMS Wins Miramar, FL Assignment




Miramar I and II, Miramar, FL

FORT LAUDERDALE, FL - Colliers International South Florida is pleased to announce the winning of an assignment for its Real Estate Management Services (REMS) division.

Kevin Rude
Two class A office properties in Miramar will add to the firm's property management portfolio.

Gary Malpas, Senior Property Manager will serve as the property manager for the buildings with oversight by Rick Wall, Portfolio Manager. The properties, totaling 222,600 square feet, are owned by Chambers Street Properties. 

  "We are extremely honored to have been selected to manage these institutional  assets and look forward to a great relationship with Chambers Street Properties," says Kevin K. Rude, CCIM, RPA, Director of Property Management, Colliers International South Florida.

The two buildings known as Miramar I & II are located at 2300 SW 145th Avenue and 2200 SW 145th Avenue in Miramar. Miramar I totals 94,060 square feet, while Miramar II totals 128,540 square feet.

  In addition to these properties, Colliers International South Florida's REMS division manages office, retail and industrial properties in Miami Dade, Broward, Palm Beach, Martin and St. Lucie Counties. Internationally, Colliers manages over 1.25 billion square feet of commercial properties.

  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

Posted by Alex at 10:33 AM 0 comments

Colliers International Lists One of Miami's Last Full-Block Development Sites




                                                Avenue One rendering by Kobi Karp

Miami, FL, April 18, 2013 -  David C. Metalonis, CCIM, Senior Vice President and Partner at Colliers International South Florida, announced that a call for offers has been set for Thursday, May 9, 2013, for one of the last full-block development sites in the City of Miami.

David C. Metalonis
The property, located at 1950 NW 1st Avenue, is just south of the Wynwood Art District and Midtown Miami, and west of Biscayne Boulevard and the Performing Arts District, placing it within the Omni CRA.

 The 2.47-acre site is zoned T6-8-0 which allows for up to 12 stories in height, 674,025 square feet of total gross floor area, and residential development of up to 370 units. With existing Major Use Special Permits (MUSP) already approved for a proposed 311-unit mixed-use project called Avenue One, the site is ready for immediate development.

Kobi Karp
"Current zoning code allows for a mixed-use project that could be developed as three separate towers using a new design by Miami architect Kobi Karp," said Metalonis. He is representing Miami-based owner A-1 Management Corp. whose principals brought the loft concept to Miami and who have sold multiple projects in Miami-Dade.
  
 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

Posted by Alex at 10:22 AM 0 comments

Brooks Barton Joins American Healthcare Investors As Vice President of Seniors Housing


  
Brooks Barton

NEWPORT BEACH, CA– American Healthcare Investors, a commercial real estate investment firm that specializes in the acquisition and management of healthcare-related properties, announced that Brooks Barton has joined the company as vice president of seniors housing.  

“Brooks is an accomplished healthcare professional with extensive experience in the specialized field of senior living facilities,” said Danny Prosky, a founding principal of American Healthcare Investors.

Danny Prosky
“He will play a key role in facilitating the acquisition and management of assisted living facilities and other properties that cater to the needs of our growing senior population, assets we believe to be among the most attractive real estate investment opportunities.”

Barton has worked in the healthcare industry since 2000 and is an authority on seniors housing and long-term care models.

behalf of Griffin-American Healthcare REIT II, Inc.  As of April 15, 2013, this nationwide portfolio includes 153 properties comprised of medical office buildings, skilled nursing facilities, hospitals and assisted living facilities located throughout 28 states.

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

Damon Elder
 (949) 270-9207
delder@ahinvestors.com

Posted by Alex at 10:09 AM 0 comments
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