Regency Centers Completes Portfolio Sale

JACKSONVILLE, FL--(BUSINESS WIRE)-- Regency Centers Corporation (“Regency”) today announced it has closed on the sale of the portfolio of shopping centers owned by Regency Retail Partners, LP (the “Fund”) together with adjacent property phases wholly-owned by Regency to a joint venture between an affiliate of Blackstone Real Estate Partners VII L.P. and DDR Corp. for a gross sales price of $332 million, including $207 million of assumed mortgage debt.


Given Regency’s 20% ownership interest in the Fund, the company’s share of net sales proceeds from this transaction before closing adjustments was approximately $38 million. The Fund will be dissolved following this transaction.

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

 Regency Centers Corporation

Patrick Johnson, 904-598-7422

PatrickJohnson@RegencyCenters.com

Chatham Lodging Acquires Hampton Inn & Suites in Exeter, NH

  

Hampton Inn & Suites, Exeter, NH

  
PALM BEACH, FL, Aug. 13, 2013—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale extended-stay hotels and premium branded select-service hotels, today announced that it has acquired the 111-room Hampton Inn & Suites in Exeter, New Hampshire for a purchase price of $15.2 million, plus customary pro-rated amounts and closing costs.   

Jeffrey H. Fisher

The Hampton Inn & Suites opened in August 2010 and is located in the seacoast area of southern New Hampshire.  

With convenient access to Interstate 95, the LEED-certified hotel is proximate to Phillips Exeter Academy and strong corporate clients such as Timberland, Bauer, Cobham, Sig Sauer and leisure destination Hampton Beach.

“This hotel is well located in downtown Exeter, the historic New England village home to one of the most prestigious college preparatory schools in the country, and benefits from a very diverse mix of corporate and leisure demand generators given its close proximity to seaside destinations,” said Jeffrey H. Fisher, Chatham’s chief executive officer.

Peter Willis

The Hampton Inn & Suites Exeter is managed by Island Hospitality Management (IHM), which is 90 percent owned by Mr. Fisher. Chatham funded the purchase with borrowings on its secured revolving credit facility.

“Utilizing our extensive network of relationships, we were able to source this deal privately and directly without the involvement of any third parties,” commented Peter Willis, chief investment officer.  “We have an active pipeline and remain very selective as we accumulate a high quality hotel investment portfolio.”

  

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

Jerry Daly          
Daly Gray Public Relations                                                   
jerry@dalygray.com                                                              
(703) 435-6293                                                                                                                                             

Dennis Craven
Chief Financial Officer
dcraven@cl-trust.com

(561) 227-1386  

Atlantic | Pacific Development Officially Opens Atlantic Doral, the First Property of the Atlantic Brand Series

The Atlantic | Doral apartments, 10500 Northwest 74 Street, Doral, FL

MIAMI, FL ( Aug. 13, 2013) – Atlantic | Pacific Development (A | P Development), the development platform under Atlantic | Pacific Companies (A | P), will officially open The Atlantic | Doral on August 15, 2013, the newest property of The Atlantic brand series.

Alex Lastra

The property will be managed by Atlantic | Pacific Management (A | P Management). The luxury rental community is located at 10500 Northwest 74 Street in Doral, Florida.

A | P Development began construction on the project in April of 2012. They have begun pre-leasing and tours of the community are now available.

 Senior Managing Director of A | P Development, Alex Lastra, states “A | P is committed to offering the finest in development and property management. The Atlantic | Doral exemplifies this commitment by offering multiple, open and spacious floor plans”

The Atlantic | Doral consists of 360 luxury residential units, with one, two, and three bedroom models available.

Doral is celebrated for its’ A-rated schools, Smith K-8 Center and Ronald W. Reagan High School. The community is within minutes of Miami International Airport, The Trump Doral Golf Resort & Spa, and Dolphin Mall. 

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

Jessica Wade Pfeffer / Jessica Wade Inc.

Jessica@jessicawadeinc.com

305.804.8424

HFF closes sale of The Brentdale in Plano, TX

The Brentdale Apartments, 1515 Rio Grande Drive, Plano, TX

DALLAS, TX – HFF announced today that it has closed the sale of The Brentdale, a 412-unit, multi-housing community in Plano, Texas.

Rob Key

HFF marketed the property on behalf of the seller, a joint venture between Intercontinental Real Estate Corporation and the Pinnacle Family of Companies.  Resource Real Estate purchased the property for an undisclosed amount free and clear of existing debt.

The Brentdale is located at 1515 Rio Grande Drive near the intersection of 15th Street and Custer Road and in close proximity to a variety of major employment centers such as the Richardson Telecom Corridor, Collin Creek Mall, Legacy Business Park, Plano Industrial Business Park and the Texas Instruments plant. 

Blair Lang

Situated on 20.96 acres, the property is 93.2 percent leased with units averaging 862 square feet each.  Community amenities include five resort-style pools, a heated spa, racquetball court, tennis court, fitness center, tot lot, clubhouse and covered parking.

The HFF team representing the seller was led by directors Rob Key and Blair Lang.

Intercontinental Real Estate Corporation is an SEC registered investment adviser and real estate operating company with expertise in real estate investment, development, construction management and asset management. 

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

HFF closes sale of independent living community in Bryan, TX

Waldenbrooke Estates, Bryan, TX

Ryan Maconachy

DALLAS, TX – HFF announced today that it has closed the sale of Waldenbrooke Estates, a 180-unit, independent living community in Bryan, Texas.

Titan / SenQuest, the senior housing division of Titan Real Estate Investment Group, Inc., purchased the property for an undisclosed amount free and clear of existing debt.

Situated on 5.54 acres, Waldenbrooke Estates is located at 2410 Memorial Drive across from St. Joseph Regional Health Center.

 Community amenities include a fitness center, swimming pool, spa, library, recreation room and covered parking, in addition to on-site banking services, on-site beautician/barber services, fitness program, pet program and full meal plan for residents.

Chad Lavender

The HFF team representing the seller was led by managing director Ryan Maconachy and director Chad Lavender.

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

www.treig.com.

HFF arranges $29.05 million refinancing on behalf of Denholtz Associates for five-property portfolio in Illinois and Florida

University Corporate Center, 7129 University Boulevard, Winter Park, FL

FLORHAM PARK, NJ – HFF announced today that it has secured a $29.05 million refinancing for a five-property, 649,586-square-foot portfolio located in Illinois and Florida.

Jon Mikula

                HFF worked on behalf of Denholtz Associates to secure the five-year, fixed-rate loan through Natixis Real Estate Capital, Inc.  Loan proceeds were used to repay the existing mortgage.

                The portfolio is comprised of four assets in suburban Chicago: 1050-1138 Tower Lane in Bosenville; 747 N. Church Road in Elmhurst; 2625 Butterfield Road in Oak Brook; and 625-701 Executive Drive in Willowbrook; and one asset in Winter Park, Florida: 7129 University Boulevard.

 The 84 percent leased portfolio is leased to 117 different tenants and contains 56 percent office space, 30 percent flex space and 13 percent warehouse/industrial space.

Michael Klein

                The HFF team representing Denholtz Associates was led by senior managing director Jon Mikula and director Michael Klein.

                “The portfolio’s diverse tenancy and strong suburban locations made this an attractive assignment,” said Klein.  “Natixis believed that the subject properties had strong leasing velocity and was confident in Denholtz’s experience and track record with these assets.”

                Denholtz Associates is a privately-held development, investment and management company active in office, industrial, flex and retail real estate.  Headquartered in Matawan, New Jersey, Denholtz Associates has 100 employees and maintains offices in Atlanta, Chicago and throughout Florida and New Jersey.

  

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

Griffin-American Healthcare REIT II Reports Second Quarter 2013 Results

Generic photo -- not a property owned by Griffin-American Healthcare REIT II

          

NEWPORT BEACH, CA (Aug. 13, 2013) – Griffin-American Healthcare REIT II, Inc. today announced operating results for the company’s second quarter ended June 30, 2013. 

Jeff Hanson

“During the second quarter, Griffin-American Healthcare REIT II continued its rapid growth with the acquisition of 21 healthcare-related buildings for more than $141 million,” said Jeff Hanson, chairman and chief executive officer.

 “As a result of our continued expansion, funds from operations grew 232 percent, modified funds from operations grew 134 percent and net operating income grew 106 percent compared to the second quarter 2012.

“Additionally, we anticipate completing the acquisition of the previously announced £298.5 million, or approximately $447.8 million, UK Senior Housing Portfolio during the third quarter, at which point Griffin-American Healthcare REIT II would add an international presence to an already extensive national footprint, creating one of the largest and best diversified healthcare REITs in the world in terms of geography, revenue sources and asset types. ”

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

Damon Elder

SVP, 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

Top-Notch Property Management Is Crucial to a Property’s Success

   

Michael Bull

ATLANTA, GA – In today’s market, cutting back seems to be a natural inclination for property owners. However, enhancing property management services is more important than ever.

 That was the consensus of a panel of experts on the most recent episode of the “Commercial Real Estate Show” radio program, hosted by Michael Bull of Bull Realty.

Bull and his guests discussed the biggest challenges facing property managers today, the different roles they take on and the growing presence of technology in property management.

Joseph S. Greenblatt

With the commercial real estate market still in recovery mode, owners might be tempted to cut property-management services in order to save some cash.

“We are seeing a natural inclination to cut costs, but more and more we see enlightened real estate investors that recognize that the best long-term return is through enhancing [management] services,” said Joe Greenblatt, president-elect of the Institution of Real Estate Management (IREM).

 While asset managers traditionally have been more concerned with the long-term financial management of a property and property managers more focused on managing a site’s day-to-day operations, those lines are becoming blurred, Greenblatt said. As investors become more sophisticated, a property manager today is expected to be more fluent in the financial analysis and management of a property.

Jay Windsor

 Property managers are also playing an increasingly essential role in acquisitions. “Property managers can make or break the acquisition process because they can look at it not just from a dollars-and-cents side, but they can look beyond the wrappings of the building,” said Jay Windsor, senior vice president of IREM.

 “They can offer insight on how to run it, and they can look for pitfalls and bigger challenges than the obvious [problems] you see when you are walking around [a property].”

 The entire asset and property management episode is available for download at www.CREshow.com. The next “Commercial Real Estate Show” will be available on Aug. 15 and will feature an update on the leasing versus purchasing decision.

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

Stephen Ursery

The Wilbert Group

404.405.2354

sursery@thewilbertgroup.com

Georgia Gov. Nathan Deal and Atlanta Mayor Kasim Reed Meet with PulteGroup Inc Chairman Richard Dugas Thursday at Pulte's New Headquarter Location

        

Gov. Nathan Deal

ATLANTA, GA --Georgia Governor Nathan Deal and Atlanta Mayor Kasim Reed will meet with PulteGroup, Inc. Chairman, President and CEO Richard J. Dugas, Jr. to welcome the company to Atlanta.

 Speakers will discuss what the company’s relocation to Atlanta means for the city and state, and the company’s plans to begin hiring in the area.

Mayor
 Kasim Reed

Representatives from Invest Atlanta, the Metro Atlanta Chamber and the Georgia Department of Economic Development will also be in attendance.

                       

PulteGroup announced in May 2013 that it will relocate its corporate offices to Atlanta in the summer of 2014.

WHEN: Thursday, August 15, 2013, 10:00 – 10:30 a.m.

           

WHERE: Capital City Plaza, Front Lobby, 3350 Peachtree Road NE

Atlanta, Ga. 30326

Richard J. Dugas Jr.

For more information about PulteGroup, Inc. and PulteGroup brands, go to

www.pultegroupinc.com;

www.pulte.com;

 www.centex.com;

  www.delwebb.com

.  Follow PulteGroup, Inc. on Twitter:  @PulteGroupNews.

Beech Street Capital Closes $19.9 Million Loan for Fractured Condos in Fort Lauderdale, FL

Colonnade Apartments, Sunrise, FL

  

BETHESDA, MD,  AUG. 13, 2013 – Beech Street Capital, LLC, announced today that it closed a $19.9 million loan to refinance Colonnade Apartments, a 230-unit garden-style apartment complex in Sunrise, Florida, in the Fort Lauderdale MSA.

Mitch Sinberg

  Senior Vice Presidents Mitch Sinberg and Michael Wallace, headquartered in Beech Street’s Fort Lauderdale office, originated the transaction. 

 Beech Street utilized its relationship with City National Bank to create a structure that would allow the borrower to refinance their existing debt while providing them with a future funding component and flexible prepayment terms. Once all the units are repurchased the borrower will have options for sale or refinance with a minimal prepayment penalty.

 Colonnade Apartments is located in close proximity to Sawgrass Mills Mall, one of the largest enclosed shopping malls in the country and a major tourist destination.

Michael Wallace

 It also has excellent access to major highways and the Sawgrass International Business Park. Amenities include a resort-style swimming pool and spa, fitness center, business center, garage parking, lounge, gated access, outdoor gathering/grill areas and a clubhouse.

 The floating-rate loan has a three-year term with a one-year extension option.

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

Courtney Lewis

240-507-1948 or

Jenifer Bernardi

 240-507-1946.

www.beechstcap.com

Florida Keys Hotel Sold for $2.6 Million Cash

  

Atlantic Bay Resorts, 160 Sterling Road, Tavernier, FL

John K. Crotty

MIAMI, FL, Aug. 13, 2013 - Colliers International South Florida is pleased to announce that Executive Vice President - Partner John K. Crotty and Chairman - Founding Partner Michael T. Fay managed the bankruptcy auction sale of a 9,027 square foot, 19-unit hotel in the Florida Keys in a $2.6 million all cash transaction.

The property, known as Atlantic Bay Resorts, is at 160 Sterling Road, Tavernier, Florida, 33070. Colliers International South Florida represented the seller, AD Resorts, LLC/Wells Fargo Bank.

Michael T. Fay

The buyer, Marathon II, LLC, plans to continue to operate the hotel. The investor already owns the Seafarer Resort and Beach in nearby Key Largo.

 "This well-located property at mile marker 92.5 has 400 feet of beach access on Florida Bay," says Crotty. "The transaction is representative of a market trend in which properties continue to trade on the distressed side as REO and bankruptcies," he adds.

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

Annaly Capital Management, Inc. Announces Preferred Dividends

NEW YORK, NY --(BUSINESS WIRE)-- In accordance with the terms of the 7.875% Series A Cumulative Redeemable Preferred Stock (“Series A Preferred Stock”) of Annaly Capital Management, Inc. (NYSE: NLY) (“Annaly”), the Board of Directors of Annaly has declared a Series A Preferred Stock cash dividend for the third quarter of $0.492188 per share of Series A Preferred Stock.

This dividend is payable on September 30, 2013, to Series A Preferred Stock shareholders of record as of September 2, 2013.

In accordance with the terms of Annaly’s 7.625% Series C Cumulative Redeemable Preferred Stock (“Series C Preferred Stock”), the Board of Directors of Annaly has declared a Series C Preferred Stock cash dividend for the third quarter of $0.476563 per share of Series C Preferred Stock.

This dividend is payable on September 30, 2013 to Series C Preferred Stock shareholders of record as of September 2, 2013.

In accordance with the terms of Annaly’s 7.50% Series D Cumulative Redeemable Preferred Stock (“Series D Preferred Stock”), the Board of Directors of Annaly has declared a Series D Preferred Stock cash dividend for the third quarter of $0.46875 per share of Series D Preferred Stock.

This dividend is payable on September 30, 2013 to Series D Preferred Stock shareholders of record as of September 2, 2013.

Annaly’s principal business objective is to generate net income for distribution to its shareholders from its investments. Annaly is a Maryland corporation that has elected to be taxed as a real estate investment trust (“REIT”).

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

Annaly Capital Management, Inc.

Investor Relations

1-888-8Annaly

www.annaly.com

Metrocenter Mall in Phoenix, AZ Completes 13,327-SF Lease with Rainbow Shops

  

PHOENIX, AZ — Leasing activity at Phoenix’s Metrocenter Mall is holding its own in 2013, with more than 55,000 square feet of new leases completed since the start of the New Year and including the most recent major announcement—a 13,327-square-foot lease by Rainbow Shops, one of the fastest growing junior clothing retailers in the U.S.

Anita Blackford

Based in New York, Rainbow Shops offers clothing for juniors, plus sizes and children, as well as an extensive shoe collection. It will open its Metrocenter Mall location on August 18.

 The retailer operates nine other locations in Arizona, and with sister brands 579 and Marianne operates more than 1,000 total locations in 37 states, Puerto Rico and the U.S. Virgin Islands.

“Rainbow is a growing, nationally known tenant that will add a fun new dimension to our mix of existing clothing stores, including Dillard’s, Macy’s, Sears, Aéropostale and Charlotte Russe,” said Metrocenter Mall Senior Vice President of Leasing Anita Blackford. “We’re thrilled to welcome them.”

Jessica Theberge

According to Blackford and Specialty Leasing Manager Jessica Theberge, the mall is in negotiations now with several other national fashion retailers, and hopes to welcome those companies to the mall later this year and into 2014.

In-place retailers include a 15,000-square-foot Ashley Furniture, 7,166-square-foot Scottsdale International Auto Museum and 1,002-square-foot Metrocenter Arcade, which all opened at Metrocenter Mall during first quarter 2013.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

www.metrocentermall.com.

www.carlyle-usa.com.

Which Housing Markets Offer the Most Opportunities for Interested Buyers?

  

Denver skyline

EMERYVILLE, CA – ZipRealty, Inc. (http://www.ziprealty.com) (NASDAQ: ZIPR), the most prominent online technology powered residential real estate brokerage firm and real estate marketing solutions provider, has released a list of the 10 housing markets with the greatest opportunities for home buyers based on MLS data analyzed by ZipRealty’s Business Intelligence Team.

Lanny Baker

“The tight supply of for sale housing inventory in 2013 has created bouts of buyer competition that have pushed home prices upward and driven the amount of time that homes are on the market sharply downward,” said Lanny Baker, CEO and President of ZipRealty. “However, an increase in new listings is offering the first signs that tight inventory conditions might finally find some relief.” 

“Across the 24 metros analyzed every two weeks in ZipRealty’s Housing Trends Report, new listings that came to market between mid-June and mid-July 2013 were 14% higher than in the same period of 2012, marking the strongest year-over-year growth in new listings in any 30-day period so far this year,” he noted.

Seven cities saw 20%-plus leaps in new listings, including Denver (26%), Portland (25%), San Diego (24%), Orange County (24%), Baltimore (24%), and Washington, DC/Northern Virginia (23%).

As of July 15, the housing markets with the most opportunities based on new listings data from ZipRealty include:

Metro Area                               YOY Increase in Listings                                Median Sales Price

1) Denver                                              26%                                                      $273,500
2) Portland                                            25%                                                      $269,000
3) San Diego                                         24%                                                      $430,000
4) Baltimore                                          24%                                                      $270,000
5) Seattle                                              24%                                                      $295,000
6) Orange County                                  24%                                                      $540,000
7) DC/Northern VA                                 23%                                                      $395,000
8) Tucson                                              19%                                                      $165,000
9) Orlando                                             18%                                                      $140,132
10) Dallas                                             18%                                                      $192,500

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

Stacey Corso
510.735.2667
scorso@ziprealty.com 

www.ziprealty.com

Jones Lang LaSalle Completes Deer Valley Land Purchase in North Phoenix, AZ for planned 169,000 SF Industrial Project by The Mack Co.

  

Rendering of planned 169,000-SF Class A industrial development in North Phoenix, AZ

Steve Sayre

PHOENIX, AZ – Industrial experts in the Phoenix office of Jones Lang LaSalle have completed a 9.4-acre land purchase for The MACK Company. The buyer will soon kick off construction at the site for the development of MACK Pinnacle, a new 169,000-square-foot, Class A industrial development.

Pat Harlan

Located just west of the southwest corner of Pinnacle Peak Road and 7th Street in north Phoenix, the land for MACK Pinnacle sold for $2,685,000. The new project is scheduled  for completion in May 2014.

The Jones Lang LaSalle team of Executive Vice Presidents Steve Sayre and Pat Harlan, and Associate Kyle Westfall, along with Jones Lang LaSalle Managing Directors Mark Detmer and Bo Mills, represented The MACK Company.

Kyle Westfall

Luke Lewis of Luke Land Realty represented the seller, 7th Street & Airport Drive II, LLC.

According to JLL, MACK developed approximately 500,000 square feet of industrial product in the submarket almost a decade ago.

Mark Detmer

Their new project, MACK Pinnacle, will encompass two Class A industrial buildings, one at 90,757 square feet and 30-foot clear height and the other at 78,281 square feet and 24-foot clear height.

Additional features include A-1 light industrial zoning, ESFR sprinkler system and a location on a major intersection with immediate access to the two main transportation corridors in the submarket, Interstate 17 and the Loop 101 freeway.

Bo Mills

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

Stacey Hershauer

480.600.0195

stacey@focusaz.com