Griffin-American Healthcare REIT II Completes $541 Million in December Acquisitions, Totaling $1.5 Billion in 2013

Jeff Hanson

IRVINE, CA (Jan. 7, 2014) – American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT II, Inc., announced today the completion of multiple acquisitions during December 2013 totaling approximately $541.3 million.

 In total, the REIT completed approximately $1.5 billion in acquisitions during the year, and now owns a diverse portfolio of healthcare real estate valued at approximately $2.8 billion, based on aggregate purchase price, located throughout the United States and the United Kingdom.

 “We launched Griffin-American Healthcare REIT II in 2009 with the strategic goal of building a diverse, institutional-quality portfolio of clinical healthcare real estate assets,” said Jeff Hanson, chairman and chief executive officer of Griffin-American Healthcare REIT II. 

“Today, less than four years since we acquired our first property, we own a significant and well-diversified portfolio that is positioned for additional growth in 2014 and beyond.”

Dan Protsky

Dan Prosky, president and chief operating officer, added, “Our rapid portfolio growth has been accompanied by superior performance, as we have established consistent operating metrics that compare favorably with those of our publicly traded healthcare REIT peers.”

Griffin-American Healthcare REIT II’s most recent acquisitions, completed between Dec. 12, 2013 and Dec. 23, 2013, include:

• Central Indiana Medical Office Building Portfolio II – Indianapolis, Indiana
• Kennestone East Medical Office Building Portfolio – Marietta, Georgia
• Dux Medical Office Building Portfolio – Indiana, Michigan, Ohio and Texas
• Midwest Continuing Care Retirement Community Portfolio – Colorado Springs, Colorado; Lincolnwood, Illinois; and Cincinnati, Ohio
• 155 Crystal Run NY Medical Office Building – Middletown, New York
• 
  
• Griffin-American Healthcare REIT II financed the acquisitions using cash on hand and $68 million in borrowings under its unsecured line of credit with Bank of America, N.A.

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

Damon Elder                                                                                       

(949) 270-9207

delder@ahinvestors.com

HFF closes $26.25 million sale and arranges $18.5 million financing for Bangor, ME power center

Bangor Parkade,  482 Stillwater Avenue, Bangor, ME

James Koury

BOSTON, MA – HFF announced today that it has closed the sale of and arranged financing for Bangor Parkade, a 233,000-square-foot power center anchored by Kohl’s in Bangor, Maine. 

HFF marketed the property on behalf of the seller, Retail Properties of America, Inc.  GM Realty of Bangor, LLC purchased the asset for $26.25 million free and clear of debt.  

HFF also assisted the buyer with arranging an $18.5 million, fixed-rate acquisition loan through Cantor Commercial Real Estate Lending, L.P. 

Jim Cadranell

Bangor Parkade is situated on 27.85 acres at 482 Stillwater Avenue, shadow-anchored by the Bangor Mall and directly off of Interstate 95 in Bangor.  Completed in 2005, the property is 99.7 percent leased by tenants including Kohl’s, Old Navy, AC Moore, Big Lots, ULTA, LL Bean and PetSmart. 

The HFF team representing the seller was led by senior managing director Jim Koury.

HFF’s debt placement team representing the buyer/borrower was led by managing director Jim Cadranell and senior managing director Jon Mikula.

Jon Mikula

Retail Properties of America, Inc. is a fully integrated, self-administered and self-managed real estate investment trust that owns and operates high quality, strategically located shopping centers across 34 states.  The company is one of the largest owners and operators of shopping centers in the United States.

The company is publicly traded on the New York Stock Exchange under the ticker symbol RPAI. Additional information about the company is available at www.rpai.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

Sale of trophy office property in downtown San Jose, CA closed by HFF

225 West Clara office building, Downtown San Jose, CA

Steven Golubchik

SAN FRANCISCO, CA – HFF announced today that it has closed the sale of 225 West Santa Clara, a 16-story, 349,318-square-foot, transit-oriented trophy office property in downtown San Jose, California.

               HFF marketed the property on behalf of the seller, Equity Office Properties and procured the buyer, a partnership between Principal Real Estate Investors and Harvest Properties.  

               Completed in 2001, 225 West Santa Clara is 95 percent leased to tenants including Deloitte, Morgan Stanley, Wells Fargo and MetLife. 

On-site amenities include a five-level parking structure, a restaurant, and a bank.  225 West Santa Clara is adjacent to the extremely popular San Pedro Square and within walking distance to numerous restaurants and retail shops, public transportation including Caltrain, and the SAP Center (formerly HP Pavilion).

Michael Leggett

 The property’s location also provides immediate access to Highway 87 with connections to Interstates 280, 680, 880, as well as US 101, and is a five-minute drive to San Jose’s Norman S. Mineta International Airport.

The HFF investment sales team representing the seller was led by managing director Steven Golubchik, senior managing director and co-head of HFF’s national office investment sales platform Michael Leggett, senior managing director Gerry Rohm and director John Simerlein.

Gerry Rohm

“225 West Santa Clara is ideally positioned to take advantage of the growing demand for Class A, transit-oriented office space in downtown San Jose, as the surrounding areas in Silicon Valley continue to see rising rental rates and limited options for available high quality office space,” said Golubchik.

Equity Office Properties is one of the largest and most well-respected commercial real estate firms in the nation, with a portfolio encompassing 70 million square feet of Class A office space under management in superior locations throughout the country.  For more information, visit www.equityoffice.com.

John Simerlein

Principal Real Estate Investors manages or sub-advises $47.8 billion in commercial real estate assets[1].  The firm’s real estate capabilities include both public and private equity and debt investment alternatives.  Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.

Harvest Properties is a commercial real estate investment firm that specializes in the acquisition, development, management, and financing of commercial property; primarily through joint-venture investments in Northern California.  Harvest Properties is headquartered in Emeryville, California, with five regional offices in the San Francisco Bay Area.

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 the $71.25 million sale of The Solana at Cinco Ranch in suburban Houston, TX

The Solana at Cinco Ranch, 24001 Cinco Village Center Boulevard
 adjacent to La Centerra at Cinco Ranch and The Grand Parkway
in Cinco Ranch, Katy, TX

Ryan Maconachy

DALLAS, TX – HFF announced today that it has closed the sale of The Solana at Cinco Ranch,  a 184-unit, Class A independent, assisted living and memory care facility in Katy, Texas, an affluent and growing sister city of Houston.

               HFF marketed the property on behalf of the seller, Formation Development Group, LLC and affiliates of The Carlyle Group, Inc.  American Realty Capital purchased the facility for $71.25 million or $387,228/unit, free and clear of financing.

               Completed in 2009 and expanded in late 2013 to include the assisted living/memory care wing, The Solana at Cinco Ranch is a seniors housing facility with 126 independent living, 38 assisted living and 20 memory care units. 

Community amenities include concierge services, a signature restaurant, café, wine bar, sports bar, salon and spa, theatre, art studio, woodworking shop, fitness center, heated salt water pool, putting green and bocce ball court, and state-of-the-art emergency call system. 

Chad Lavender

The 98 percent occupied property is located at 24001 Cinco Village Center Boulevard adjacent to La Centerra at Cinco Ranch and The Grand Parkway in Cinco Ranch, a master planned community in Katy, about 25 miles west of Houston’s CBD.

According to HFF, The Solana at Cinco Ranch is one of the premier seniors housing facilities in the marketplace due to its impressive amenities and high-end finishes along with its strong historical occupancy and rental rate growth.

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

Formation Development Group is a senior living consulting, development and investment company that combines the capabilities and capital resources of Formation Capital with the development expertise and senior living experience of the former principals of EdenCare Senior Living Services.  

American Realty Capital (ARC) is a full-service investment advisory firm sponsoring a series of investment programs with an emphasis on publicly registered non-traded real estate offerings.  The company has made a splash in the seniors housing space in 2013 and has a strong acquisition pipeline in the coming year.  The existing operator, The Arbor Company, will remain in place.   This will be the 9th community they currently operate on behalf of ARC.

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

MOCK, the agency, buys two buildings in Atlanta’s Westside district

Rendering by LOOP of 247 and 253 - 14th Street, Westside District, Atlanta, GA

Rob Broadfoot

Atlanta, GA —MOCK, the agency, an advertising, graphic and digital design company based in Atlanta, purchased two buildings on 14th Street, in Atlanta’s Westside district. The first building will become MOCK’s new office, and the other is available for lease.

The decision to purchase the buildings was two-fold: Mock’s principals aim to create a unique environment to build their company culture and also believe the real estate play will have financial rewards.

 “We wanted to find a permanent home and build our home,” said principal Donald Mock. “We also believe we’ll be able to reduce the money we are spending on office space, if we get the right tenant.”

The two buildings, at 247 14th Street and 253 14th Street, are both 2,500 square feet. MOCK has worked with architect Jordan Williams of Plexus R+D, and both buildings are currently under renovation. Expect contemporary, open, creative space.

Dan Granot

 “Architecture and graphic design go well together,” said Mock. “We are tearing apart something, and re-creating it from scratch. It mirrors what we do for our clients and has been a really invigorating, creative process.”

Principal Rob Broadfoot encourages other business owners to consider owning, rather than leasing. “Instead of paying rent to someone else, we are building equity,” he said.

Other advantages of buying include: Properties in good locations will appreciate over time; costs are predictable, particularly with a long-term, fixed-rate mortgage; companies can take depreciation on the improvement portions of their property; companies can usually deduct interest payments on their tax filings; owners can rent out extra office space as an added source of income; businesses are free to make the spaces their own.

Dan Granot of Joel & Granot represented MOCK in the purchase of the buildings. Dave Smith, also of Joel & Granot, is representing MOCK in leasing.

Dave Smith

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

Don Mock

Principal

404 418 5914 office

404 931 8015 cell

www.mocktheagency.com

Rob Broadfoot

Principal

404 418 5916 office

404 731 6912 cell

Elizabeth Hagin •The Wilbert Group

1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309

O: 404-748-1367  • M: 678-642-4301

thewilbertgroup.com

Miami Light Project and MDC Live Arts Present Acclaimed Choreographer Nora Chipaumire in Miriam

    

Nora Chipaumire, photo by Antoine Tempe

 Miami, FL –Miami Light Project and MDC Live Arts proudly present renowned choreographer Nora Chipaumire on Friday and Saturday, Jan. 24 – 25, at the Light Box at Goldman Warehouse in the Wynwood Art District.

Chipaumire’s performance, Miriam, is a stunning dance tribute to the life of South African singer and freedom fighter Miriam Makeba.

Miriam is conceived, written and choreographed by Chipaumire and directed by Eric Ting. 

Chipaumire creates her first character-driven work – a deeply personal dance-theatre performance that looks closely at the internal battles women face between public expectations and private desires, between selflessness and ambition and between the perfection and sacrifice of the feminine ideal.

With an original score by six-time Grammy nominee Cuban composer and pianist Omar Sosa, Miriam layers text, sound and images that enrich the mysterious and haunting world of Chipaumire’s creation.

Omar Sosa

Tickets are $25 for the general public; $50 for VIP and $10 for MDC students with valid identification. 

Tickets are available online at www.miamilightproject.com and at the MDC Live Arts office located at MDC’s Freedom Tower.

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

Rebekah Lanae Lengel

Managing Producer

Miami Light Project

PO Box 1048

Miami, FL 33137

p: 305.576.4350

e: rebekah@miamilightproject.com

www.miamilightproject.com

MBA Releases Commercial/Multifamily Quarterly DataBook for Q3 2013

WASHINGTON, DC -- The Mortgage Bankers Association (MBA) released its third quarter 2013 Commercial Real Estate/Multifamily Finance Quarterly DataBook. To download a free copy, click here. The report includes a summary of major trends and detailed charts and tables that provide current and historical information on the economy and commercial/multifamily real estate markets.  Among the findings covered in the DataBook: The U.S. economy grew at a seasonally adjusted annual rate of 4.1 percent in the third quarter of 2013, well above the 2.5 percent growth in the second quarter. Commercial and multifamily mortgage originations were essentially flat from the second quarter, but were up 29 percent from last year’s third quarter and are up 14 percent year-to-date. Commercial/multifamily mortgage debt grew by the largest amount since 2008 and stood at $2.47 trillion in the third quarter. Delinquency rates for commercial and multifamily mortgage loans declined for every major investor group in the third quarter.   MBA’s Quarterly DataBook compiles the most up-to-date information on topics of interest to commercial/multifamily real estate finance industry professionals, including trends in the economy, property sales, originations, delinquencies, and mortgage debt outstanding. For a complete copy of the company's news release, please contact  Shawn Ryan (202) 557-2727  sryan@mba.org.

MBA Hires Barbara Hanson as Director of Education Sales

  

Barbara Hanson

Washington, D.C. (Jan. 7, 2014)–David H. Stevens, President and CEO of the Mortgage Bankers Association (MBA), today announced that Barbara Hanson has joined MBA’s sales team as Director of Education Sales, effective January 6, 2014.

In this position, Ms. Hanson will be providing education services and support to members within the real-estate finance industry.

“Barbara is a first rate addition to the MBA Education team and brings decades of experience and understanding to this position. Her long standing relationships and expertise make her a natural fit for our association,” said MBA’s President & CEO David H. Stevens.

“Additionally, MBA and its members will benefit greatly from Barbara’s ability to bring strategic thinking and understanding to key educational issues impacting the real-estate finance industry,” Stevens added.

Jeffrey M. Schummer

Ms. Hanson is an experienced financial services industry executive with more than 30 years of expertise in underwriting, operations, sales and corporate training and development.

Most recently, Ms Hanson had been working as a Mortgage Loan Specialist for Bank of America. Prior to that, she was a Group Senior Vice President of Mortgage Sales & Operations for Wachovia/Golden West Financial-World Savings.

Ms. Hanson has a Bachelor of Arts in Economics from University of California Los Angeles. She will report to Jeff Schummer, MBA’s Vice President of Education.

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

Rob Van Raaphorst

(202) 557-2799

Rhodes+Brito Architects in Orlando, FL Earns Continuing Services Contract to Provide Architectural Services to Lake County, FL Schools

Ruffin Rhodes

ORLANDO, Fla. -- Rhodes+Brito Architects in Orlando was recently awarded a three-year Continuing Services Contract with Lake County Schools.

Ruffin Rhodes, co-founder and partner at Rhodes+Brito Architects, said the firm will provide Lake County Schools with design, engineering and project coordination services as requested on a per-project basis.

Brito said projects covered under the contract are typically small in scope and often involve renovations. The Lake Schools contract includes a $2 million cap.

Rhodes+Brito, which opened in Orlando in 1996, currently employs a staff of 20, including eight registered architects. The firm has exceptional experience providing architectural services to municipal government agencies.

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

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

NAI Realvest negotiates four leases totaling 47,020 square feet at industrial centers in Sanford, Orlando and Kissimme, FL areas

Michael Heidrich

ORLANDO, FL– NAI Realvest recently completed four lease agreements totaling 47,020 square feet of industrial space in Orlando, Sanford, Kissimmee, and Oakland in West Orange County. 

Michael Heidrich, principal at NAI Realvest representing each landlord, negotiated all four transactions, which included the following.

 Local landlord Monroe North SPE, LLC leased 19,670 square feet to Sanford-based American Battery Company at Suite 1030 in Monroe CommerCenter North, 4200 Church St., Sanford.   The tenant formerly occupied suite 1018 with 9,336 square feet. 

 Landlord D and D Investments LLC of Orlando leased 18,550 square feet to a new tenant – Orlando Sentinel Communications Company LLC – at 1942 W. New Hampshire St., Orlando.  Micah Strader of CB Richard Ellis represented the tenant. 

Micah Strader

 In Kissimmee, landlord Poinciana CommerCenter West, LLC leased 6,400 square feet to TVM Building Products, Inc., a new local tenant at 1756 Business Center Lane. 

 Winter Garden-based landlord Countyline Suites LLC renewed a lease agreement with tenant Eurofins Agroscience Services Inc., a materials testing lab, at Suite A9 with 2,400 square feet in the industrial center at 940 W. Oakland Ave. Oakland,  Fla.

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

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

NAI Realvest Negotiates New Lease for Sand Lake Shoppes in Southwest Orlando, FL

Kimberly Manson

 ORLANDO, FL – NAI Realvest recently negotiated a lease agreement for 1,375 square feet of retail space at Sand Lake Shoppes, 1913 W. Sand Lake Rd. in Southwest Orlando. 

 The NAI Realvest team of Jeffrey Tanner and Kimberly Manson negotiated the transaction representing the landlord, Sand Lake Shoppes Family LP based in Altamonte Springs.

 BizCard Express of Orlando, LLC is the new tenant. 

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

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

Mary Davolt Joins Englewood Construction Team as Chief Financial Officer

Mary Davolt

CHICAGO, IL (Jan.  7, 2014) – Lemont, Ill.-based Englewood Construction, one of the country’s leading commercial construction firms, has announced Mary Davolt, 49, has joined the firm as chief financial officer.

 Davolt brings more than 25 years of industry experience to Englewood Construction. A Certified Public Accountant and a Certified Construction Industry Financial Professional, Davolt has worked closely with construction companies for decades on a consulting basis, providing audit and taxes services, and in CFO roles. 

 “As a result of record sales in 2013 and a double-digit increase in hiring, we felt that filling this position was essential to the continued growth of Englewood,” said William Di Santo, president of Englewood Construction. 

“In anticipation of projected double-digit revenue growth in 2014 and continued increase in governmental regulations that must be addressed and adhered to, the CFO position has become an essential position in growing companies.  We welcome Mary’s wealth of experience and look forward to her being part of Englewood’s strategic planning team.”

William Di Santo

 Davolt’s previous experience includes serving as CFO for R.A. Bright Construction. In 2001, she founded CMS Group, a construction business consulting and software solutions company.

She merged her practice with Aktion Associates Inc. in 2010, where she held a position on the executive management team as regional manager, before joining Englewood fulltime in January 2014.

 “I am excited to be part of the Englewood culture and committed to exceeding client expectations while maintaining our core values of integrity, honesty and accountability,” said Davolt. 

  “With the depth of knowledge and passion on Englewood’s leadership team, I can’t wait to be part of the growth plans for 2014. It should be an exciting year. “

Davolt has been recognized for her professional achievements by her industry numerous times. Most recently, she received the Construction Financial Management Association’s Associate Member of the Year Award in 2013. She has also been recognized in the Influential Women in Business program by the National Association of Women in Business and The Suburban Business Ledger.

 

 Davolt resides in Naperville and has a degree from North Central College. She is active with community and civic organizations and is president of the board of directors for Naperville CARES, a 501(c)3 dedicated to helping local families in financial crisis with emergency financial support and resources.

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

Mark Thomton

mthomton@taylorjohnson.com,

312-267-4523

www.englewoodconstruction.com,

www.hardhatchat.com