PCCP LLC Provides Loan to East River Partners LLC for Purchase and Renovation of Three Buildings in Upper West Side of New York, NY

                                          272, 274 and 276 West 86th Street,
                                          Upper West Side of New York, NY 

 New York, NY, April 19, 2013 - PCCP, LLC announced today it has provided a senior loan to an affiliate of East River Partners, LLC for the acquisition and renovation of three multifamily buildings.

John Randall

The buildings total approximately 21,500 square feet and are located in the Upper West Side of New York, NY at 272, 274 and 276 West 86th Street.

“East River Partners is an experienced real estate investment and development firm focused on purchasing existing buildings in New York City and rehabbing them into rental or condominium homes,” said John Randall, senior vice president with PCCP, LLC out of the firm’s New York City office.

 “The opportunity is a good match with our lending appetite, and this loan represents a favorable basis for PCCP in the highly desirable Upper West Side where there is a scarce amount of newer housing product.”

The property consists of three architecturally attractive, contiguous mid‐block buildings built in 1909. The buildings are situated between Broadway and West End Avenue on the south side of the two‐way West 86th Street. Two of the three buildings are currently vacant and the third building has minimal occupancy.

Morrison & Foerster LLP represented PCCP, LLC.  Cooper-Horowitz arranged the financing.

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

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

www.pccpllc.com.

Charles Dunn Co. Completes $1.95 Million Sale Multifamily Property in Los Angeles

                                    1616 South Bundy Street, West Los Angeles, CA

Kimberly Roberts Stepp

LOS ANGELES, CA, April 19, 2013 – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $1.95 million sale of a 7-unit multifamily property located at 1616 South Bundy near the major cross street of Santa Monica Blvd. in West Los Angeles.

Kimberly Roberts Stepp of Charles Dunn Company represented the seller, 1616 South Bundy, LLC from Los Angeles. The buyer was Judmarc, LLC from Los Angeles and was represented by Hamid Soroudi. The closing cap rate was 4.8 percent. 

“This property was on the market for just one week,” said Soroudi. “With current rental vacancy rates at two to three percent and very little inventory on the Westside, pricing for multifamily properties is very strong and available properties are hotly contested.”

Hamid Soroudi

Soroudi and Stepp are part of Charles Dunn Company’s Soroudi Group, the most successful and active group of brokers involved in selling and exchanging of prime Westside properties. Their marketing program delivers sold properties at more than 98.5 percent of the list prices within a compressed marketing period.

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

Darcie Giacchetto

D.G. Communications, Inc.

949.278.6224

www.charlesdunn.com

$19 Million Luxury Apartment Complex Sale Brokered by IPA in La Habra, CA

                                      Il Pompeii Apartments, La Habra, Orange County, CA

LA HABRA, CA – 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 Il Pompeii Apartments, a 111-unit luxury apartment complex in La Habra, Orange County, Calif.

Stewart I. Weston

The $19,000,000 sales price equates to approximately $171,000 per unit and $204 per square foot.

IPA senior director Stewart I. Weston, IPA associate director W. Michael Cavner and Marcus & Millichap vice president investments John L. Nguyen advised the seller. The buyer is a local capital buyer.

“Il Pompeii Apartments is atypical of many properties within its vintage,” says Weston. “The seller and original developer incorporated a number of forward-thinking key amenities and construction features into the original plan.” 

W. Michael
Cavner

“The investment appeal of this asset is driven by strong submarket occupancy and rental growth trends,” adds Nguyen. “All units in this community are commanding market-rate rents.”

“The property has been delivered free and clear, allowing the new owner to take advantage of historically low interest rates,” Cavner concludes.

Situated on five acres and consisting of 11 separate buildings, the two-story residential community is made up of one-, two- and three-bedroom townhouse-style apartment homes.

John L. Nguyen

Constructed in 1969, Il Pompeii Apartments is accentuated with a stucco siding and pitched tile roofs.  Amenities include a swimming pool with sundeck, a community room, large grass courtyards and greenbelts, beautiful fountains and water features, and barbecue and picnic areas. Select units have been renovated with new flooring, two-tone paint, new appliances, cabinetry, lighting and faucet fixtures.

Key amenities and construction features that were incorporated into the original plan include central air conditioning and heating, copper piping throughout, lead-free paint inside and out, and building materials manufactured without asbestos.

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

.Ben Johnson

 Marketing Director

(925) 953-1736

324-Unit Luxury Multifamily Complex Trades Hands in Northern San Antonio, TX

The View at Encino Commons, San Antonio, TX

SAN ANTONIO, April 18, 2013 – 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 The View at Encino Commons, a 324-unit luxury multifamily community in northern San Antonio.

Will Balthrope

            Will Balthrope, an IPA executive director, and Scott Lamontagne, an IPA associate director, advised the seller. The buyer is McCann Realty Partners.

            “The View at Encino Commons has many unique features that distinguish it from the nearby rental competition,” says Balthrope, “including its trademarked ‘big house’ design with large units; private, ground-level entries; no breezeways or exterior stairways, and 50 percent attached direct-access garages.” 

Scott
 Lamontagne

“This distinctive property is in an irreplaceable, highly visible location in one of the most prolific growth corridors in the city,” adds Lamontagne. 

Built in 2001 on 21 acres, the property is located just northeast of the U.S. Highway 281 and Evans Road interchange at 21303 Encino Commons in San Antonio.

The View at Encino Commons’ apartment units feature fully equipped kitchens with microwave ovens, ceramic tile entries, private patios or  balconies with French doors, bay windows and fireplaces with stone mantles, nine-foot ceilings with designer crown molding, computer niche, ceiling fans in all bedrooms, private first-level entries, and outside storage units.

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

.Ben Johnson

 Marketing Director

(925) 953-1736

Luxury Student Housing Community Hits the Market in Austin, TX

  

Longhorn Lux student housing community, Austin, TX

AUSTIN, TX – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has received the exclusive listing for Longhorn Lux, a 243-bed luxury student housing community in Austin, Texas. The property is being offered on a “price to be determined by market” basis.

Joe James

Joe James and Kent Myers, senior associates, and Hector Granado, an associate, all in Marcus & Millichap’s Austin office, are representing the developer of the project.

            “Longhorn Lux is located in West Campus, which borders of the University of Texas to the west,” says James. “West Campus is the most prized student market for the university and the opportunity to buy new student mid-rise product is rare.”

Kent Myers

            “The University of Texas at Austin posted a 2.2 percent increase in enrollment last year and Longhorn Lux is currently 97 percent occupied,” adds Myers. “The property will be fully leased in the upcoming school year.”

            “As the preferred location for student living for more than 50 years, this unique asset offers investors long-term stability,” Granado concludes.

University of Texas,
Austin, TX campus

Built in 2012, the 62,808-square foot property is located at 2401 Longview St. in Austin. Longhorn Lux is a three-story mid-rise that includes 213 underground parking spaces. All units are furnished with beds, desks, chairs, dressers, flat-screen televisions, nightstands and couches.

Community amenities include a swimming pool, private study rooms, lounge areas with couches and flat-screen televisions, laundry rooms on each floor, electronic entry and door locks, a game room with billiards, fitness center, concierge service and a gaming center with PS3 and Wii.

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

.Ben Johnson

 Marketing Director

(925) 953-1736

Integrity Home Loan Appoints Residential Loan Originator in Tampa Bay Area Branch Office

 Tampa, FL. -- Integrity Home Loan of Central Florida, which ranks as Florida’s largest and most active privately-held residential mortgage company, recently appointed veteran residential mortgage officer Darrin J. Bosin as residential mortgage loan originator in its Tampa Bay Regional Office at 3030 N. Rocky Point Drive West in Tampa.

Matt Malloy, president of Integrity Home Loan of Central Florida, Inc., said Bosin earned his B.A. degree in Finance from the University of Florida and formerly served as a loan officer and branch owner of Gold Star Mortgage Financial in Tampa.

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

Matt Malloy, President, Integrity Home Loan of Central Florida, 407-688-8268 matt.malloy@inthomeloan.com NMLS #- 161433

Jason Scott, Marketing Manager, Integrity Home Loan, 407-688-6618 jason.scott@inthomeloan.com;

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 (fax: 4410)

Integrity Home Loan of Central Florida to open new offices in Illinois, Virginia this year and expand Detroit office

 LAKE MARY, FL --- Integrity Home Loan of Central Florida plans to open new offices in Chicago area and Fairfax, Va. this year and to expand its Detroit-area office in Southfield, Mich.

Matt Malloy, president of Integrity Home Loan of Central Florida, said his staff of seven loan officers in Southfield will grow to more than 25 loan officers this year.

Integrity Home Loan provided more than 2,700 mortgage loans last year totaling more than $600 million from 11 branches including the Central Florida headquarters in Lake Mary, and locations in Coral Springs, West Palm Beach, Jacksonville, Orlando, Tampa, and in the Detroit suburb of Southfield, Mich.     Malloy projects Integrity will serve up more than 3,200 residential mortgage loans in 2013.

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

Matt Malloy, President, Integrity Home Loan of Central Florida, 407-688-8268 matt.malloy@inthomeloan.com NMLS #- 161433

Jason Scott, Marketing Manager, Integrity Home Loan, 407-688-6618 jason.scott@inthomeloan.com;

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 (fax: 4410)

Rhodes+Brito Architects earn Continuing Services Contract from U.S. General Service Administration

Ruffin Rhodes

ORLANDO, FL -- Rhodes+Brito Architects based in Orlando, has earned a five year continuing services contract from the U.S. General Services Administration (GSA).

Ruffin Rhodes, co-founder and partner at Rhodes+Brito, said the continuing services contract authorizes Rhodes+Brito Architects to provide architectural design services to be requested by the GSA with fees not exceeding $1 million per year during the five year contract period.

The U.S. General Services Administration develops, manages and maintains non-military buildings and other facilities owned by the U.S. Government.

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

Ruffin Rhodes, Rhodes+Brito Architects, 407-648-7288 x103 ruffin@rbarchitects.com

Maximiano Brito, Rhodes+Brito Architects, 407-648-7288 max@rbarchitects.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 (fax: 4410)

Integrity Home Loan Appoints Win Thomas as Senior Loan Originator in Jacksonville, FL Office

  

Matt Malloy

 Jacksonville, FL-- Integrity Home Loan of Central Florida, which ranks as Florida’s largest and most active privately-held residential mortgage company, recently appointed Win Thomas as senior loan originator in its Northeast Florida Regional Office at 8130 Baymeadows Way in Jacksonville.

Matt Malloy, president of Integrity Home Loan of Central Florida said Thomas earned his B.S. degree in Accounting from the University of North Florida and formerly served as a loan originator with Merrill Lynch Home Loans in Jacksonville.

“We are building a staff of the most experienced residential mortgage professionals in northeast Florida to serve our clients in the Jacksonville region and Win Thomas will play an important role in our continued growth in the region,” Malloy said.

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

Matt Malloy, President, Integrity Home Loan of Central Florida, 407-688-8268 matt.malloy@inthomeloan.com NMLS #- 161433

Jason Scott, Marketing Manager, Integrity Home Loan, 407-688-6618 jason.scott@inthomeloan.com;

Larry Vershel, Larry Vershel Communications, 407-644-4142, lvershelco@aol.com