HFF closes sale of Pacific Commons Shopping Center in Fremont, CA

Nicholas  Bicardo

SAN FRANCISCO, CA - HFF announced today the sale of Pacific Commons Shopping Center, an 865,783-square-foot regional power center in Fremont, California.

               Noted as one of the largest power centers in Northern California, HFF marketed the property on behalf of the seller, an affiliate of Catellus Development Corporation, a TPG Real Estate investment.  Heitman purchased the asset which was subject to an existing loan.

               Pacific Commons Shopping Center is located at the southwest corner of Interstate 880 and Auto Mall Parkway. 

Completed in phases between 2004 and 2006, the center is part of a larger approximately 1.2 million-square-foot retail development situated within an 840-acre mixed-use master planned community that also includes 1.1 million square feet of office/R&D and light industrial space, an 11-dealership auto mall, 440-acre wetland preserve and a 153-acre land parcel with entitlements for 3.4 million square feet of additional office, R&D and retail. 

Mark Damiani

Situated on 79.2 acres, Pacific Commons Shopping Center is approximately 97 percent leased and is anchored by tenants such as Lowe’s, Costco, Nordstrom Rack, TJ Maxx, HomeGoods, Staples, Kohl’s, DSW, Target (NAP) and Cinemark Century Theaters (NAP).

The HFF investment sales team representing the seller was led by managing director Nicholas Bicardo and director Mark Damiani along with managing director Bryan Ley.

“In addition to being the most dominant and highest quality retail center within a 10-mile radius, Pacific Commons represented one of the only opportunities of 2013 to deploy $100+ million of equity into a core retail asset in Northern California in an environment where there continues to be absolute dearth of product,” said Bicardo. 

Catellus Development Corporation is an Oakland, California-based national leader in mixed-use development.

Bryan Ley

With nearly 30 years of experience as a master developer, Catellus has transformed former airports, military bases and urban industrial sites into thriving retail, residential and commercial communities.

 Catellus also excels at executing the retail and office components of these complex projects, often serving as the vertical developer.

TPG Real Estate is the real estate platform of TPG, a leading global private investment firm founded in 1992 with $55.3 billion of assets under management and offices in San Francisco, Fort Worth, Austin, Beijing, Chongqing, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, Paris, São Paulo, Shanghai, Singapore and Tokyo. 

TPG has extensive experience with global public and private investments executed through leveraged buyouts, recapitalizations, spinouts, joint ventures and restructurings.  Further information is available at www.tpg.com.

Heitman, founded in 1966 and headquartered in Chicago, manages more than $28 billion in assets invested directly and indirectly in real estate in North America, Europe and Asia-Pacific. The firm’s clients include institutions, pension plans, endowments and foundations and individual investors.

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 $61.25 million sale of Canyon Crossings in Riverside, CA

Canyon Crossings, 2550 Canyon Springs Parkway
adjacent to Interstate 215 and Highway 60 in Riverside, CA

Ryan Gallagher

IRVINE, CA – HFF announced today that it has closed the sale of the Canyon Crossings, an approximately 300,000-square-foot retail power center in Riverside, California. 

HFF marketed the property on behalf of the seller, Long Wharf Real Estate Partners LLC.  Dunhill Partners purchased the asset for $61.25 million free and clear of existing debt.

Canyon Crossings is located at 2550 Canyon Springs Parkway adjacent to Interstate 215 and Highway 60 in Riverside.

 Completed in 2008, the property is 92.5 percent leased to tenants including Toys/Babies “R” Us, John’s Incredible Pizza, Mor Furniture for Less, Staples, Howard’s Appliances and Party City.

  The center is part of a larger retail project totaling approximately 700,000 square feet, which is shadow-anchored by Walmart Supercenter.

The HFF investment sales team was led by senior managing director Ryan Gallagher and associate director CJ Osbrink.

CJ Osbrink

“California is coming out of the recession with healthy job growth and increased housing demand,” said William L. Hutchinson, president of Dunhill Partners.

“As the ninth largest economy in the world with so much to offer such as the natural beauty of its landscapes and a resilient and diverse population, I can only see California commercial real estate only going up from where it is today as the market continues its recovery.”

Long Wharf Real Estate Partners LLC is a Boston-based private equity real estate investment manager.  The group invests in sectors and markets across the United States principally on behalf of institutional clients, including corporate and public pension funds, endowments and foundations.

Founded in 1984 by William L Hutchinson, Dunhill Partners is a commercial real estate investment firm that currently owns and manages more than five million square feet of retail commercial property.

William L. Hutchinson

Dunhill Partners, which is based in Dallas, Texas, has been expanding its acquisition reach into the California market. 

Last December Dunhill acquired the legendary Nut Tree Shopping Center in the San Francisco Bay Area, and is now adding Canyon Crossings to its sizeable retail portfolio. www.dunhillpartners.com.

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 Denver City Center in downtown Denver, CO

Denver City Center, 707 and 717 - 17th Street
also known as John Manville Plaza
Financial District, Denver, CO

Mary Sullivan

 DENVER, CO – HFF announced today that it has closed the sale of Denver City Center, a two-building, Class A office property totaling approximately 1.3 million square feet  in downtown Denver.

               HFF marketed the property exclusively on behalf of the seller, Crescent Real Estate Holdings LLC.  Shorenstein purchased the asset.

The two buildings are located at 707 and 717 17th Street and together occupy an entire city block between Stout and California Streets in Denver’s Financial District.

 Completed in 1981, the 42-story 707 17th Street building is leased to tenants such as Jacobs Engineering and Forest Oil Corporation. 

The 29-story 717 17th Street building, also known as Johns Manville Plaza, was completed in 1978 and is leased to tenants including Johns Manville, Baker Hughes and AECOM. 

The HFF team representing the seller was led by senior managing directors John Jugl and Mary Sullivan.

John Jugl

“Denver City Center is one of the area’s landmark properties and this sale is the largest of its kind in 2013 and one of largest sales in Denver’s history,” commented Jugl.

Crescent Real Estate Holdings LLC, headquartered in Fort Worth, Texas, is a fully-integrated real estate company owned by Barclays Capital and Goff Capital. 

Through its subsidiaries, Crescent manages and develops premier, Class A office buildings. Crescent also holds investments in resort residential developments in locations such as Scottsdale, Vail Valley, and Lake Tahoe; a luxury hotel, The Ritz-Carlton, Dallas; and the wellness lifestyle leader, Canyon Ranch®. 

For more information, visit Crescent's Web site at www.crescent.com.

San Francisco-based Shorenstein Properties LLC (www.shorenstein.com) is one of the oldest and most successful private real estate investment companies active throughout the United States in the acquisition, development, ownership and management of office and mixed-use properties.

 Since its beginning in 1924, the company has evolved from a regional real estate operating company to an active national investor and manager of co-mingled institutional capital.

 Shorenstein provides asset management, leasing, property management and construction services to the properties in its portfolio through its wholly owned property services affiliate, Shorenstein Realty Services.

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 arranges $73.8 million in financing for the development of Pacific Business Center in Los Angeles County

Pacific Business Center, 5600 Rickenbacker adjacent to 710 Freeway
 Bell, CA (Los Angeles County)

Don Curtis

IRVINE, CA – HFF announced today that it has arranged $73.8 million in financing for Pacific Business Center, a multi-building industrial development in Bell (Los Angeles County), California.

               HFF worked on behalf of the borrower, Pacific Industrial, to structure and secure the non-recourse participating loan through a global investment firm.  Loan proceeds will be used to acquire and develop the project.

               Plans call for the construction of three Class A industrial warehouse buildings totaling more than 400,000 square feet on a 22.8 acre portion of the site. 

The remaining 13.7 acres are currently leased to BNSF.  The site is located at 5600 Rickenbacker, adjacent to the 710 Freeway, two miles south of the 5 Freeway interchange, and about six miles southeast of downtown Los Angeles.

               The HFF team representing the borrower was led by associate director Brian Torp and senior managing director Don Curtis. 

Brian Torp

               “The majority of the inventory in the central Los Angeles market is functionally obsolete.  Pacific Business Center will be the best-in-class industrial project in this submarket, and the structure of the non-recourse financing will allow the sponsor to own the asset long term,” said Torp.

               Pacific Industrial is an industrial real estate development and acquisition platform exclusively focused on industrial real estate in Southern California. 

The principals have been involved with the development and/or acquisition of more than 15 million square feet of industrial product and are currently developing and entitling over 2.0 million square feet.

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 and acquisition financing of West Sunset Square in Miami, FL

West Sunset Square shopping center, 15705-15789 SW 72nd Street, West Kendall, FL

Danny Finkle

MIAMI, FL – HFF announced today that it has closed the sale of and arranged acquisition financing for West Sunset Square, an 82,789-square-foot retail center in the Miami submarket of West Kendall.

               HFF marketed the property on behalf of the owner.  HFF’s debt placement team also arranged the acquisition financing on behalf of the buyer, an affiliate of Rialto Capital Management.

               Completed in 2009, West Sunset Square is 72 percent leased to tenants including Walgreens, Valsan and Planet Fitness.  The property is situated on 8.82 acres at 15705-15789 SW 72nd Street about 16 miles southwest of downtown Miami. 

               The HFF investment sales team representing the seller was led by director Luis Castillo and senior managing director Danny Finkle.  HFF director Chris Drew and senior real estate analyst Nat Scarmazzi represented the borrower in the financing of the transaction.

Chris Drew

               HFF’s investment sales team secured more than $1.7 billion in sales of retail assets nationally through third quarter of 2013.  In Florida, HFF closed more than $476 million in retail transactions across all capital markets platforms over the same period.

Rialto Capital Management (“Rialto”), a wholly-owned subsidiary of Lennar Corporation (NYSE: LEN), is a vertically integrated real estate investment management company focused on distressed and value-add investments and asset management, workout and turn-around strategies. 

Rialto was formed in 2007, and, since its inception, has participated in the investment of billions of dollars in distressed real estate assets and commercial mortgage-backed securities (“CMBS”).

 Rialto is headquartered in Miami, FL with offices across the United States.  For more information, please visit www.rialtocapital.com.

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 Shallowford Falls in Marietta, GA

Shallowford Falls, Johnson Ferry Road and Shallowford Road,
Marietta, East Cobb County, GA

Richard Reid

ATLANTA, GA – HFF announced today that it has closed the sale of Shallowford Falls, a grocery-anchored shopping center in Marietta, Georgia.

               HFF marketed the property on behalf of the seller.  Branch Properties, LLC purchased the asset for an undisclosed amount.

Renovated in 2000, Shallowford Falls is anchored by Kroger and occupied by national tenants including Ace Hardware, Subway and The UPS Store. 

The center is located in the highly sought after East Cobb submarket at the intersection of Johnson Ferry Road and Shallowford Road, approximately 15 miles northwest of downtown Atlanta.

               The HFF team representing the seller was led by managing directors Jim Hamilton and Richard Reid and real estate analysts Mike Allison and Pete Anastasi.

Founded in 1973 and based in Atlanta, Branch Properties, LLC is a private real estate investment firm primarily focused on high-quality neighborhood shopping centers located in the southeastern United States. 

As a vertically integrated real estate operating company, Branch has the in-house expertise to source, negotiate, acquire, develop, finance, lease and manage neighborhood shopping center investments.  www.branchprop.com.

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 $237 million sale of Boston’s top suburban office asset

Wellesley Office Park, suburban Boston
 at  Route 128/Interstate-95 and Route 9. 

Coleman Benedict

BOSTON, MA – HFF announced today that it has closed the $237 million sale of The Wellesley Office Park, a trophy, 649,184-square-foot office park located in Wellesley, Massachusetts. 

The HFF team led by Coleman Benedict and Ben Sayles exclusively represented the seller, Equity Office Properties, in the transaction. 

               The Wellesley Office Park is a master-planned, “award-winning” office park that is located in suburban Boston at the intersection of Route 128/Interstate-95 and Route 9. 

At the time of sale, the asset was approximately 90.0 percent leased to an absolute “blue chip” tenant roster including names such as AXA Equitable Life Insurance, Northwestern Mutual Life, Bank of America Merrill Lynch, Newton-Wellesley Hospital, Wells Fargo, Morgan Stanley, Eagle Investment Systems, Stream Global Services, UBS, Benchmark Senior Living, REZ-1, Baystate Financial, and F-Squared Investments.

Benjamin E. Sayles

“Wellesley Office Park can easily be considered ‘best in class’ and embodies all the long-term criteria standards of institutional investors: irreplaceable setting, convenient access, on-site amenities and marquee tenancy,” said Benedict. 

“This distinction is overused in today’s environment and only truly applies to those office properties that consistently outperform their peer group, regardless of market conditions.”

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

High-Density Land in Miami, FL CBD Sells for $22 Million

Rendering of Brickell CityCenter site, Downtown Miami, FL

Larry Stockton

MIAMI, FL -- Colliers International South Florida is pleased to announce that Larry Stockton, Alex Morcate and Jeff Resnick have closed on another high-density land site in Miami's CBD.

Representing the seller, Brickell Main Gate LLC, on the sale of their 1.7 acre site, located between 7th and 8th Streets and I-95, the brokers were able to achieve almost $300 per square foot, or $22 million, for the land in a very competitive bidding process.

The buyer, La Chanson Overseas, though a relative newcomer to the market, distinguished itself as the right choice with impeccable credentials and aggressive terms.

Alex Morcate

Though they have not yet made public their plans for the property, likely the highest and best use of the site is residential and / or hospitality over retail.

This is the Colliers team's llth closing in Miami's CBD of high-density land, including the majority of the land assembled for Brickell CityCenter.

According to Larry Stockton, the team not only has another large site in the Brickell market under agreement currently, but also they are about to bring to market a very high profile site that is entitled for 466 units, office and ground floor retail in Miami's only gated riverfront community, and for which there is already considerable interest.

Jeff Resnick

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

Marcus & Millichap Arranges Sale 9,976-Square-Foot Shopping Strip in Boca Raton for $3.8 Million

  

Congress Center, Boca Raton, FL

Douglas K. Mandel

BOCA RATON, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Congress Center, a 9,976 square-foot shopping strip located in Boca Raton, FL. The asset sold for $3,800,000.

First Vice President Investments Douglas K. Mandel had the exclusive listing to market the property on behalf of the seller, a private investor from Boca Raton, FL.

Richard Moravek, an Associate in Marcus & Millichap’s Ft. Lauderdale office represented the buyer, a private investor from Boca Raton. 

“Congress Center provided an investor with the opportunity to purchase a well-located, high-quality asset with strong in-place cash flow,” says Mandel.

“The center benefits from the high daytime population of Arvida Park of Commerce office buildings and is also in close proximity to affluent residential communities and major centers of commerce, entertainment and education,”

Richard Moravek

Built in 1998, Congress Center is 100 percent occupied. Its tenants include: Blue Fin Sushi and Tai Grill, Sal's Italian Restaurant, Jimmy John's Sandwiches, Nail Express, and Gianel Salon. Congress Center is located at 861 Yamato Road in Boca Raton, FL. 

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

Gregory Matus

Regional Manager / Vice President

Fort Lauderdale, FL

(954) 245-3400

Construction and Leasing Underway at Tetro Student Village Near University of Texas at San Antonio, TX

Tetro Student Village, 15502 Babcock Road, San Antonio, TX

  

David Nelson

SAN ANTONIO, TX – Carter, one of the nation’s leading real estate investment, development and advisory firms, announced its off-campus student housing project, Tetro Student Village, located near the University of Texas at San Antonio (UTSA) has launched its marketing and leasing efforts.

The 198-unit, 590-bed community, located less than half a mile from the university at 15502 Babcock Rd., will open for the fall semester of 2014.

 The community will feature a truly unique method of property marketing: a mobile leasing center that will be called the Tetro Truck. The customized 14” food truck was remodeled and is fully equipped to tour and provide leasing support.

 The Tetro Truck will travel to nearby festivals, parks, sporting events, restaurants and bars to promote the community and sign up residents. Students will also be able to take life-life virtual tours of the units, and conduct all transactions online.

Del de Windt

Cardinal Group Management will oversee the management and leasing of the property, which is already leasing for the 2014-15 academic term.

 “Tetro Student Village will be a tremendous addition to the San Antonio market,” said David Nelson, vice president of Carter’s development team.

 “All of the pieces are in place for it to be extremely successful: innovative marketing and leasing, strong growth in student enrollment at UTSA, proximity to campus, and a wide array of high-quality amenities that have been re-imagined  for college living to meet the high expectations of today’s student.”

  

“We are excited to be working with Carter to deliver premiere student housing to the San Antonio Market,” said Del de Windt, CEO of Cardinal Group Management. “Tetro will not only be a gorgeous community, but an affordable one as well. With its proximity to campus, unit sizes and top-of-the-market amenities, Tetro will provide students of UTSA with a community-focused living experience unlike any other.”

 The 16-acre community will include 121flats-style apartments and 77 townhomes built around a “town center.” The development will feature one-, two-, three- and four-bedroom units, and the townhomes will include two-car garages. 

University of Texas Health Science Center
San Antonio, TX

Amenities will include a coffee shop, sports bar, state-of-the-art fitness center, media room for watching sporting events and movies as well as playing video games, a resort-style pool, volleyball, basketball and bocce ball courts, soccer field, grilling area, fire pit, study room, arcade, dog park and tanning room.

  

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

Tony Wilbert

The Wilbert Group

404-965-5022

twilbert@thewilbertgroup.com

www.carterusa.com

www.cardinalgroup.com   .  

 Tetro’s community website is live at http://tetrostudentvillage.com and its social media platforms include a Facebook page (www.facebook.com/tetrostudentvillage), its own Twitter handle @TetroStudentsand an Instagram account (http://instagram.com/tetrostudentvillage). Twitter followers are encouraged to use #TetroTruck in their tweets.

Passco Companies Acquires 246-Unit Multifamily Community in Raleigh, NC for $31 Million

The 246-Unit Wakefield Glen Apartments, Raleigh, NC

Gary Goodman

RALEIGH, NC – Passco Companies, LLC, has acquired Wakefield Glen Apartments, a 246-unit luxury Class A multifamily community located in Raleigh, North Carolina, for $31 million, according to Gary Goodman, Senior Vice President, Acquisitions of Passco Companies, LLC. The company closed on the Wakefield Glen acquisition in only 45 days.

“Wakefield Glen demonstrates deep potential for growth and stability, making it well-aligned with Passco’s ongoing strategy to acquire high quality, core multifamily assets in secondary markets,” said Goodman.

The property’s potential stems from strong economic fundamentals in the Raleigh-Durham market, as well as its Class A condition and specific location within a highly desirable master planned community, according to Goodman.

Wakefield Glen Apartments is located in the 2,220 acre Wakefield Plantation master planned community, which consists of hundreds of single family homes, apartment units and townhouses, as well as several schools, a retail shopping center and a Tournament Players Club (TPC) golf course.

 “Wakefield Glen is Passco’s second multifamily acquisition this year in the Raleigh-Durham area, and we are actively seeking additional investment opportunities in this market,” noted Goodman. “As one of the top markets in the country for future job and economic growth, Raleigh continues to demonstrate strong potential for rental growth and long term profit.”

Research Triangle Park, Raleigh, NC Area

According to Goodman, the Raleigh-Durham market has rapidly expanded in recent years, and projections indicate that Raleigh’s employment growth numbers will exceed the national employment growth in each of the next four years.

“The catalyst for this projected employment growth is Research Triangle Park, a local economic and employment driver,” explained Goodman.

Research Triangle Park, which houses more than 170 companies and employs over 38,000 full-time employees, is located 20 minutes from Wakefield Glen Apartments.

Duke University Medical Center

Wakefield Glen is also located near three major universities, The University of North Carolina, North Carolina State University, and Duke University.

“The close proximity of universities and employment will continue to fuel demand for quality rental housing,” explained Goodman. “As this activity continues, we expect that the asset will continue to perform well over time.”

Built in 2001, Wakefield Glen Apartments consists of one-, two- and three-bedroom floor plans with nine-foot ceilings, crown molding, and luxury finishes.  The community features a variety of amenities, including a resort-style pool, clubhouse, fitness center, community business center, playground and car care center. 

University of North Carolina

According to Goodman, in addition to stabilizing occupancy and correcting deferred maintenance, Passco plans to bring in professional property management, using a national firm. 

Passco will also offer residents a number of upgrades including installing vinyl wood plank flooring in all first floor units, as well as other interior upgrades such as new appliances and countertops in many units, new cabinets, ceiling fans, kitchen and bathroom fixtures, two inch faux wood blinds, and curved shower rods.

 “Our market research indicates that residents in this location are interested in high-end unit finishes and will pay additional rent to obtain them,” adds Goodman.

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

Corynne Randel / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

CRandel@browermillercole.com

Chatham Lodging Announces Monthly Dividend

  

PALM BEACH, FL —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 its board of trustees has declared a monthly common share dividend of $0.07 for December 2013.  The common dividend is payable January 31, 2014, to shareholders of record on December 31, 2013.

  

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

 Jerry Daly                                                                             

Daly Gray Public Relations                                                   

(Media)                                                                                        

jerry@dalygray.com

(703) 435-6293                                                                          

Dennis Craven

Chatham Lodging Trust

 (Company)

dcraven@cl-trust.com

 (561) 227-1386  

HC Real Estate Capital Arranges $5 Million Financing for Multi-Family Community in Boca Raton, FL

The 73-Unit Forum Apartments, Boca Raton, FL

 

Boca Raton, FL, Dec. 12, 2013 --   Kurt Hoffmann and Chris Caveglia of HC Real Estate Capital have arranged $5,000,000 in financing for The Forum Apartments located in Boca Raton, FL.  HC Real Estate Capital worked exclusively with the borrower to obtain a 7-year fixed-rate loan through a regional bank at a competitive interest rate.

The Forum is a 73-unit apartment complex that was originally built in 1968 and is situated on 2.26 Acres.   

The property is currently 95% leased and the individual units are made up of 3 studio units, 24 one-bedroom/one bathroom units, 43 two-bedroom/two bathroom units and 3 three-bedroom/three bathroom units.  The average unit size is 1,175 SF. 

Chris Caveglia, Principal at HC Real Estate Capital states, “The Forum is conveniently located in East Boca Raton.   The beach, Mizner Park, Royal Palm Plaza and the Boca Raton Resort are within one mile of the property.”  Caveglia went on to say, “There are two college universities within 5 miles and three public schools within 2 miles of the Forum.”

Boca Raton Resort

HC Real Estate Capital, LLC is a privately owned mortgage-banking firm founded by Kurt Hoffmann and Chris Caveglia. 

 Based in Delray Beach, Florida, HC Real Estate Capital arranges permanent and bridge commercial and multifamily real estate loans.  The company has a broad capital provider base that includes insurance companies, CMBS lenders, pension fund advisors, and commercial banks.

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

Chris Caveglia

HC Real Estate Capital, LLC

660 Linton Blvd. Ste 200 EX5

Delray Beach, FL 33444

Direct: 561-266-3273

Mobile: 561-376-3176

ccaveglia@hcrecapital.com

www.HCREcapital.com