Monday, September 16, 2013

HFF secures $46 million financing for The Plaza at Delray in Delray Beach, FL

The Plaza at Delray, Delray Beach, FL

DENVER, CO – HFF announced today that it has arranged a $46 million financing for The Plaza at Delray, a 328,989-square-foot, grocery-anchored shopping center in Delray Beach, Florida.

Eric Tupler

Working exclusively on behalf of Heitman and Ramco-Gershenson Properties Trust, HFF placed the 10-year, 4.43 percent, fixed-rate loan with one of their correspondent lenders, Allianz Real Estate of America on behalf of Allianz Life Insurance Company of North America.

The Plaza at Delray is situated on 35.39 acres at the intersection of Linton Boulevard and South Federal Highway (US-1) north of Boca Raton.  Renovated in 2002, the center is 97.9 percent leased and is anchored by Publix.  Other major tenants include Marshalls, Ross Dress for Less, T.J. Maxx, CVS, Michaels, Anna’s Linens and ULTA Salon.

Chris Drew

The HFF team representing the borrower was led by senior managing director Eric Tupler, director Chris Drew and real estate analysts Kristian Lichtenfels and Leon McBroom.

Heitman is a global real estate investment management firm with $27.1 billion in assets under management.  The firm focuses on three lines of business:  private real estate equity, public real estate securities and real estate debt.  Heitman’s clients include public and corporate pension funds, endowments and foundations, and private investors.

Leon McBroom
Ramco-Gershenson Properties Trust (NYSE:RPT) is a fully integrated, self-administered, publicly-traded real estate investment trust (REIT) based in Farmington Hills, Michigan. 

  The company's business is the ownership and management of multi-anchor shopping centers in strategic metropolitan markets throughout the Eastern, Midwestern and Central United States. 

At June 30, 2013, the company owned and managed a portfolio of 79 shopping centers and one office building with approximately 15.2 million square feet of gross leasable area owned by the company or its joint ventures. 

 The properties are located in Michigan, Florida, Ohio, Georgia, Missouri, Colorado, Wisconsin, Illinois, Indiana, New Jersey, Virginia, Maryland and Tennessee.  At June 30, 2013, the company's core operating portfolio was 95.1 percent leased.
 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 |

Essex Realty Group Brokers Sale Of Mixed-Use Building in Chicago, IL

1270 North Milwaukee, Wicker Park neighborhood, Chicago, IL

CHICAGO, IL, Sept. 16, 2013 - Essex Realty Group, Inc. is pleased to announce the sale of 1270 N. Milwaukee, a three unit Mixed-Use building located in Chicago’s Wicker Park neighborhood. 

Jim Darrow
The property is situated on Milwaukee Avenue just steps from the intersection of Paulina and Milwaukee, and is conveniently located a block north of the CTA Division Blue Line station.

 This attractive yellow brick building has two renovated rental units that feature spacious floor plans with two bedrooms and a den, a large living room with exposed brick, newer island kitchens, central air, private iron balconies, and enclosed parking.

Jordan Gottlieb
 The subject property features a unit mix of two 2- bedrooms plus den, two bathrooms each and 1,600 square feet of retail space.

 Jim Darrow and Jordan Gottlieb of Essex were the brokers in the transaction.  The price was approximately $1,100,000.

 Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

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

Essex Realty Group, Inc.

HFF secures $30.48 million construction financing for Class A multi-housing development in Williston, ND

Prairie Pines at the Ridge apartments, Williston, ND

DENVER, CO – HFF announced today that it has secured $30.48 million in construction financing for Prairie Pines at the Ridge, a 330-unit, Class A multi-housing development in Williston, North Dakota.

Eric Tupler
                HFF worked exclusively on behalf of the borrower, a joint venture between KKR, Continuum Partners and the Pioneer Companies to secure the construction loan through a national bank.

Prairie Pines at the Ridge will be situated on a 16.48-acre site at the intersection of 35th Street West and Long Branch Avenue within The Ridge master planned community.

Josh Simon
 Slated for completion in early 2014, the multi-housing project is the first phase of the development, which will also include 302 townhomes, 144 single-family homes, 48 duplex units and a public park.

 Property amenities will include a fitness center, business center, community kitchen, gathering room, outdoor picnic areas and outdoor barbecue and fire pits.

Leon McBroom
                The HFF team representing the seller was led by senior managing director Eric Tupler, director Josh Simon and real estate analyst Leon McBroom.

“The demand for housing in the Williston area has increased exponentially as the Bakken region of North Dakota experiences a major oil boom, commented Tupler.

Henry Kravis

“The Ridge, Williston’s first fully master planned community, is an excellent example of the long term sustainable growth the Williston area is experiencing in response to the region’s economic prosperity,”

Founded in 1976 and led by Henry Kravis and George Roberts, KKR is a leading global investment firm with $83.5 billion in assets under management as of June 30, 2013. 

George Roberts
With offices around the world, KKR manages assets through a variety of investment funds and accounts covering multiple asset classes.  KKR seeks to create value by bringing operational expertise to its portfolio companies and through active oversight and monitoring of its investments. 

KKR complements its investment expertise and strengthens interactions with fund investors through its client relationships and capital markets platform.  

KKR & Co L.P. is publicly traded on the New York Stock Exchange (NYSE:KKR), and "KKR", as used in this release, includes its subsidiaries, their managed investment funds and accounts, and/or their affiliated investment vehicles, as appropriate.

Mark Falcone
Continuum Partners and the Pioneer Companies is a national, privately-held real estate owner, operator, property manager and developer with headquarter offices in Denver, Colorado and Syracuse, New York. 

Continuum Partners and the Pioneer Companies are led by principals Mark Falcone, Michael Falcone, Peter Fair, and Daniel Murphy.

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 |

HFF arranges $114 million financing for Promenade in Atlanta, GA

Promenade II, Midtown, Atlanta, GA

Mark Sixour
ATLANTA, GA – HFF announced today that it has arranged $114 million in non-recourse financing for Promenade, a 775,089-square-foot, Class A office tower in Atlanta’s Midtown submarket.

                HFF worked on behalf of the borrower, Cousins Properties Incorporated, to secure the nine-year fixed-rate mortgage loan, which is non-recourse to Cousins, through Northwestern Mutual.  The property was previously unencumbered with debt. 

                Promenade is situated along Peachtree Street, in the epicenter of Midtown, and adjacent to The Four Seasons, Colony Square and the High Museum.  

Bill Ireland
Recently renovated by Cousins, the property was originally constructed in 1990 as a build-to-suit for AT&T, and also includes a 2,054-space parking garage.  Today, the building is 87 percent leased with minimal near term rollover. 

The HFF team representing Cousins was led by senior managing director Mark Sixour and associate director Bill Ireland.

Cousins Properties Incorporated is a fully integrated, self-administered and self-managed real estate investment trust (REIT).  The Company, based in Atlanta, GA, primarily invests in Class A office towers located in high growth Sunbelt markets, with a focus on Georgia, Texas and North Carolina.

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 |

Blueprint Healthcare Real Estate Advisors Launches National Advisory Firm

                                  Top row: Ryan Chase, Mario Wilson and Mike Segal.
                                  Bottom row: Ben Firestone, Chris Hyldahl and Jacob Gehl.

 CHICAGO, IL (Sept. 16, 2013) – Blueprint Healthcare Real Estate Advisors announces the launch of its national advisory firm, which provides a multitude of real estate services for investors and operators of seniors housing and healthcare real estate.

Headquartered in Chicago, Blueprint also has offices in Los Angeles, New York City, and Washington, D.C.

 “The healthcare real estate market is experiencing unprecedented growth, with 80 million Americans becoming senior citizens within the next 15 years, and, as a result, they will be utilizing more healthcare-related services,” said Jacob Gehl, managing director and founding partner of Blueprint.

“This ‘Silver Tsunami’ environment will create new opportunities for healthcare operators, investors and service providers. By partnering with Blueprint Healthcare Real Estate Advisors, clients will receive an innovative holistic approach to real estate solutions and be poised for growth wherever healthcare and real estate intersect.”

“We want to position Blueprint as the preeminent provider of healthcare real estate strategy and solutions,” said Ben Firestone, managing director and founding partner of Blueprint. “By providing a cadre of services, Blueprint can offer its clients optionality.”

Blueprint’s core service lines include exit strategy, capital solutions, partnership placement and consulting. Each service line brings its own unique set of solutions and network partners.

 Joining Gehl and Firestone on the Blueprint team is Christopher Hyldahl, managing director and founding partner who leads Blueprint’s West Coast operations, as well as industry veterans Michael Segal, senior associate; Ryan Chase, senior analyst; and Mario Wilson, associate.

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

Mark Thomton,

Kim Manning,


U.S. Hotels Experience Increase in Net Room Nights With Expedia Traveler Preference Program

Belvedere Hotel, New York, NY
Bellevue, WA, Sept. 16, 2013 – Hotels in the United States of America that have enabled the Expedia® Traveler Preference™ (ETP) program have experienced an increase in their standalone (room only) year-over-year net room night production of 10 percentage points on average, according to analysis by the Expedia group®.

Melissa Maher
 ETP-enabled hotels offer travelers choice on how they would like to pay for their reservation, either at the time of the booking or at the time of stay. More than 30,000 hotels globally are now signed up to the program and nearly 8,500 in the United States are already ETP-enabled*.

 The Expedia group® analysis also found that for standalone room nights where customers were offered a choice of when to pay for their hotel in the United States, the split of room nights was 50/50 between Expedia Collect and Hotel Collect.

When compared to the total production that Expedia provides its hoteliers in the United States, which includes bookings from package, non-refundable and other channels, the percentage of Hotel Collect bookings is roughly 31 percent.

 “By offering consumers a choice of how they’d like to pay for their hotel reservation, we increase the likelihood that they will book, and our hotel partners in the U.S. are reaping the benefits of this increased conversion,” said Melissa Maher, senior vice president at the Expedia group.

 “The Belvedere Hotel saw great potential in the Expedia Traveler Preference Program when it was rolled out last year especially in terms of attracting European travelers who prefer paying the hotel directly.

“We have seen a robust 67 percent increase in YOY room nights since joining the program.  In addition to the expected increase in international travelers, we  are even seeing higher ADR and booking windows.

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

Chris Daly
Daly Gray, Inc.
Ph: 703-435-6293
Cell: 703-864-5553

EagleBridge Capital Arranges $11,080,000 Mortgage For St. Francis Hospital Administration Building in Hartford, CT

                  103 Woodland Street, Hartford, CT leased to St. Francis Hospital Medical Center
Ted M. Sidel
Boston, MA -- EagleBridge Capital has arranged construction/permanent mortgage financing in the amount of $11,080,000 for 103 Woodland Street, Hartford, Connecticut which is leased to St. Francis Hospital Medical Center.

The mortgage financing was arranged by EagleBridge principals Ted M. Sidel and Brian D. Sheehan with a regional financial institution on behalf of its client, The Keystone Companies, Simsbury, Connecticut.

The five-story, 57,753 square foot building is located on a 3.91 acre site across Woodland Street from the main campus of St. Francis Hospital Medical Center.  

Brian D. Sheehan
The building formerly housed VNA Healthcare.  103 Woodland Street is NNN leased to the hospital on a long term basis. It will house administrative, IT, and finance offices.

The building is undergoing significant modernization and rehab which will include buildout of new office space as well as upgrading of the roof, core, electrical system, and elevators.

 Saint Francis Hospital Medical Center is a 617 bed major teaching hospital and one of the largest hospitals in Connecticut. It is a regional referral center with major clinical concentrations in cardiology, oncology, orthopedics, women’s services, and rehabilitation.

 In 2011, the hospital opened the ten-story, 318,000 square foot John T. O’Connell Tower featuring 135 private patient rooms,19 new operating rooms, a new emergency room with 70 treatment areas and 13 sheltered ambulance bays, and a rooftop heliport.

John T. O'Connell Tower, Hartford, CT
EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for mixed use properties, shopping centers, apartments, office, industrial, R & D, and medical buildings, hotels and condominiums as well as special purpose buildings.

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

Stanley J. Sidel
Senior Advisor
 EagleBridge Capital
33 Broad Street
Boston, MA 02109
Tel: 617-292-7177 Ext. 14