Trepp Acquires Commercial Real Estate Direct; Relationship Delivers Streamlined Access to CRE and CMBS News

Manus Clancy

(New York, NY – May 15, 2014) – Trepp, LLC, the leading provider of information, analytics, and technology to the CMBS, commercial real estate, and banking markets, today announced its acquisition of Commercial Real Estate Direct (CRE Direct), the subscription-based source for information and news on the real estate capital markets. 

“Trepp’s acquisition of CRE Direct was a logical step, as both our organizations focus on delivering valuable information to the commercial real estate and CMBS markets,” said Manus Clancy, Senior Managing Director at Trepp.  “CRE Direct is a proven source of daily news and information, as well as a robust research tool with more than 80,000 stories going back to 2000,” Clancy said.

The acquisition brings together two firms with strong client rosters and market reputations.  With a readership of more than 10,000, CRE Direct delivers an online daily news site and a weekly newsletter publication via a subscription-based service. 

  Trepp’s client base includes more than 800 financial institutions that access Trepp’s web-based tools for CMBS trading and analysis.

“While CRE Direct will continue to operate independently, our mutual clients will clearly benefit from streamlined access to additional information and analysis,” said Orest Mandzy, managing editor of CRE Direct.  “More specifically, our CRE Direct clients and advertisers will see immediate opportunities that come from expanded delivery channels and access,” Mandzy said.

 Trepp will be delivering authorized access to CRE Direct through its product suite, namely TreppTrade, TreppCMBS and TreppLoan.

  The new capability will be unveiled at the Commercial Real Estate Finance Council conference in New York on June 9. 

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

Eric Gerard

Eric@greatink.com

$11.3 Million Medical Building Sold by Marcus & Milllichap in Downey, CA

Brookshire Medical Building, 11411 Brookshire Avenue, Downey, CA

Michael Lawrence

DOWNEY, CA, May 15, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of the Brookshire Medical Building, a 56,121-square-foot medical building located in the southeast Los Angeles County city of Downey.

            Michael Lawrence, a senior vice president investments in Marcus & Millichap’s Newport Beach office, represented the seller, an affiliate of WRA Property Management Inc. David Black, a vice president investments in the firm’s Long Beach office, represented the buyer, PIH Health.

            “The asset is a five-story, multi-tenant medical building located directly across from the former Downey Regional Medical Center, which is now PIH Health Hospital – Downey,” says Lawrence. “The property has received more than $2,000,000 in capital expenditures and tenant improvements during the past 10 years.”

            “With long-term tenancy, well-staggered lease expirations and 78 percent occupancy at the time of the sale, the Brookshire Medical Building provides the new owner with stable income, value-add opportunities and excellent long-term appreciation potential,” adds Black.

David Black

            The building is located at11411 Brookshire Ave. in Downey, Calif. Four major interstate freeways, 710, 605, 105 and 5, are nearby, as is public transportation access.

            The Brookshire Medical Building was constructed in 1970 on a two-acre-plus signalized corner parcel. Recent renovations include roof work, elevator modernization, parking lot slurry, HVAC compressors and exterior paint.

  

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

Gina Relva

Public Relations Manager

(925) 953-1716

North Phoenix, AZ Apartment Community Sells for $10.1 Million

  

Tuscany Pointe Apartments, Phoenix, AZ

PHOENIX, AZ, May 15, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Tuscany Pointe Apartments, a 236-unit multifamily community in Phoenix, Ariz. The $10,100,000 sales price equates to $42,797 per unit.

Cliff David

            Cliff David, a Marcus & Millichap vice president investments, and Steve Gebing, a senior director with Institutional Property Advisors, a Marcus & Millichap company, both located in the firm’s Phoenix office, represented the seller, Howe Group LLC. David and Gebing also advised the buyer, The Lodge Complex Tulsa LLC.

            “Built in 1981 in an established north Phoenix neighborhood, Tuscany Pointe is well positioned for revenue enhancement through strategic interior and exterior renovations,” says David.

            The property is located on 8.3 acres at 14830 North Black Canyon Highway in Phoenix between the North Interstate 17/Deer Valley employment corridor, an area encompassing 17.5 million square feet of retail, office, industrial and flex space and the Metrocenter Mall, a 107-acre shopping center composed of approximately 1.7 million square feet of retail space.

Steve Gebbing

            Developed by Lincoln Property Co., each Tuscany Pointe apartment features a fully equipped kitchen with a large pantry space, an oversized bathroom vanity and pre-wiring for cable television.

Walk-in closets, ceiling fans, built-in microwaves, balconies/patios and upgraded wood-style vinyl flooring are available in select units.

 Community amenities include two swimming pools, a fitness center with cardio- and weight-training equipment, a sport court, barbecue grilling stations, a shaded playground, two laundry facilities and lighted, covered parking.

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

Gina Relva

Public Relations Manager

(925) 953-1716

Kiser Group Brokers Six Property Sales Including Condos, Apartment, Mixed-Use, and Retail in Chicago Area

  

4141 North Kedzie Avenue Apartments, Irving Park neighborhood, Chicago, IL

CHICAGO, IL (May 15, 2014) – Kiser Group, Chicago’s leading mid-market commercial real estate brokerage firm, recently brokered the sales of six Chicago-area properties.

                6938 S. Cregier Avenue

         Jackson Park Highlands District

                    Chicago, IL  

The April 2014 closings included 19 units in a 24-unit condominium building in Irving Park; a 32-unit walk-up apartment property in the Jackson Park Highlands District of Chicago’s South Shore neighborhood; a six-unit, mixed-use property in Edison Park; a free-standing retail building in Bolingbrook; a five-unit apartment property in Humboldt Park, and a 12-unit apartment building in Bronzeville.

The properties include:         

4141 N. Kedzie – Irving Park

6938 S. Cregier – Jackson Park Highlands/South Shore

6710-12 N. Northwest Highway – Edison Park

109 Southwest Frontage Road - Bolingbrook

1651 N. Francisco – Humboldt Park

4317 S. Michigan - Bronzeville

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

Mark Thomton, mthomton@taylorjohnson.com, 312-267-4523

Griffin-American Healthcare REIT III Meets Minimum Offering, Enters Agreements to Acquire Three Atlanta Medical Office Buildings

Dan Prosky

ATLANTA (May 14, 2014) – American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT III, Inc., announced today that the REIT reached its minimum offering of $2 million in subscriptions on May 12.

 As a result, all initial subscribers have been admitted as stockholders of Griffin-American Healthcare REIT III and proceeds from initial subscriptions that had been placed in escrow until the minimum offering was reached have been released by the escrow agent, provided that residents of Washington and Pennsylvania will not be admitted until aggregate subscriptions exceed $20 million and $87.5 million, respectively, in shares sold. 

These funds are now available to the REIT for the acquisition of real estate assets and other purposes. 

“Each of these medical office buildings is located near, or closely affiliated with, a large hospital system in the heart of a thriving community with growing demand for healthcare services,” said Dan Prosky, a principal of American Healthcare Investors and president and chief operating officer of Griffin-American Healthcare REIT III. 

“These are among the key traits we seek when evaluating an asset for acquisition, and make these three Atlanta-area medical office buildings ideal acquisitions for Griffin-American Healthcare REIT III.”

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

Damon Elder  

(949) 270-9207

delder@ahinvestors.com

HFF arranges sale of landmark Raleigh Hotel in Miami Beach, FL

Raleigh Hotel, 1775 Collins Avenue, Miami Beach, FL

Claudia Steeb

MIAMI, FL – HFF announced today that it arranged the sale of the Raleigh Hotel, a 105-room, historic art-deco hotel located on the Atlantic Ocean in the heart of Miami Beach, Florida.

                HFF was engaged by the affiliates of Tristar Capital led by David Edelstein and sbe Hotel Group (“sbe”) led by Sam Nazarian, to identify possible strategic capital alternatives, including a recapitalization, financing and potential sale, for the iconic oceanfront property located at 1775 Collins Avenue. 

The acquisition of the Raleigh Hotel by The Raleigh Group, the luxury hospitality group founded by Tommy Hilfiger, proved to be a unique strategic opportunity for Tristar and sbe to honor the iconic stature of the hotel through its sale to a world renowned designer and entrepreneur committed to preserving the Raleigh’s unique style and rich history. 

sbe will continue to manage the property, which will soon undergo a transformational renovation under the direction of The Raleigh Group’s recently appointed CEO, David Pisor.               

Max Comess

The HFF real estate investment banking team representing the seller was led by Manuel de Zarraga, Max Comess and Cyrus Vazifdar, along with the assistance of Claudia Steeb and Dan Peek.

“The extraordinary interest of the capital markets and investors in landmark Miami Beach lodging properties, such as the Raleigh, is driven by the recognition of South Beach as a top-tier global destination, coupled with the virtual absence of oceanfront property opportunities,” commented executive managing director de Zarraga.

Comess, a director in the hotel group, adds, “The sale of the Raleigh Hotel is one of the most significant trades in the history of Miami Beach’s lodging market in that it combines one of the country’s most prized hotels with a visionary lifestyle leader and entrepreneur, Tommy Hilfiger.”

HFF’s hotel group has been extremely active in South Florida, which has emerged one of the top investment targets in the U.S for domestic institutional and foreign hotel owners across all lodging segments. 

The HFF hotel group previously arranged the sale of the Seville Beach Resort, which is in its final stages of redevelopment and will soon reopen as the Edition South Beach. 

More recently, the team arranged the recapitalization of the Cheeca Lodge and sales of properties including Haddon Hall in Miami Beach, Ritz-Carlton Fort Lauderdale and the Waldorf Astoria Naples.

Tristar Capital is a leading New York City-based real estate firm that builds and invests in both commercial and residential properties, including the W South Beach Hotel and numerous retail properties such as Miracle Mile Shops in Las Vegas and high street retail in New York and Miami Beach.

sbe is a global hospitality and entertainment company helmed by visionary founder, chairman and CEO Sam Nazarian, which comprises a thriving collection of award-winning hotels, casinos, residences, restaurants and nightlife destinations, including the SLS South Beach, Beverly Hills and Las Vegas.

Manuel de Zarraga

The Raleigh Group is an affiliate of Hilfiger Hospitality, a new hospitality venture formed by Tommy Hilfiger to develop a new international luxury lifestyle hospitality brand that brings to life Tommy's passion for authentic service and first class hospitality.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF arranges $28 million financing for Harlequin Plaza in suburban Denver, CO

Harlequin Plaza, Greenwood Village, CO

 

Eric Tupler

PORTLAND, OR – HFF announced it has arranged $28 million in financing for Harlequin Plaza, a 324,833-square-foot suburban office building in Greenwood Village, Colorado.

                HFF worked on behalf of the borrower, Unico, to arrange a refinance of their existing loan.

                Harlequin Plaza is located at 7600 East Orchard Road near the Interstate 225 and Interstate 25 interchange, southeast of downtown Denver. 

Most recently renovated in 2013, the two-building property is 90 percent leased to a mixture of finance, banking, media, engineering and medical tenants including Dex Media, Cherry Creek Mortgage and BELLCO Credit Union. 

The HFF team representing the borrower was led by managing director Tom Wilson along with senior managing director Eric Tupler, senior analyst Erica Christensen and analyst Kristian Lichtenfels.

Kristian Lichtenfils

Unico is a real estate investor and full-service operator with a portfolio of more than 10 million square feet of commercial assets either owned or managed through the western United States.

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

tel (main) 617-338-0990 | (direct) 617-848-1572 | cel 617.543.4873 | www.hfflp.com

krmurphy@hfflp.com