Greystone Closes $16.5 Million Multifamily CMBS in Jacksonville, FL

Robert Russell

NEW YORK, NY (Sept. 22, 2014) – Greystone, a leading national provider of multifamily and healthcare mortgage loans, today announced it provided a $16,500,000 CMBS loan to refinance a multifamily property in Jacksonville, FL.

 The transaction was originated by Brian Fintz, an originator in the firm’s New York office.

The low-rate 5-year CMBS loan enables the borrower, Real Capital Solutions, to continue strategic investment in their target markets. 

The gated community, Eden’s Edge, includes 244 units and amenities such as a swimming pool, resident lounge with free wi-fi, business / fitness centers, and playground.

 “Greystone’s ability to provide an otherwise unavailable level of proceeds and work through the challenges of underwriting a property in the evolving, dynamic investment market in Jacksonville enabled us to carry out our business plan and realize the substantial value added to the property since acquisition, providing investors with returns that are unparalleled in the industry,” said Ken Cope of Real Capital Solutions.

Edens Edge Apartments, Jacksonville, FL

 “The incredible appetite for CMBS lending is a result of the inherent flexibility this platform provides, and backed by our multifamily expertise, Greystone is able to exceed borrowers’ expectations regardless of the market challenges,” said Robert Russell, head of production for Greystone’s CMBS lending group.

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

Karen Marotta

PR Manager

Greystone

152 W. 57th Street

New York, NY 10019

212-896-9149 direct

917-902-7073 mobile

kmarotta@greyco.com

www.greyco.com

 

http://www.realcapitalsolutions.com.

http://www.greyco.com.

McCarthy Completes TI Design-Build for Sharp Memorial Hospital Rehabilitation Center in San Diego, CA

Sharp Memorial Hospital Rehabilitation Center
San Diego, CA

             SAN DIEGO, CA – McCarthy Building Companies, Inc., one of the nation’s leading healthcare builders, has finished a complete design-build renovation of the Sharp Memorial Hospital Rehabilitation Center, an existing 14,172-square-foot, single-level facility located at 2999 Health Center Drive in the Kearny Mesa area of San Diego.

            McCarthy and Cuningham Group Architecture, Inc., collaborated as the design-build team to complete this $6,400,000 project, with Sharp Healthcare project managers Naz Fouladi and Tim Crowe providing project oversight. 

The Sharp Memorial Hospital Rehabilitation Center provides a comprehensive range of rehabilitation services for patients who have suffered catastrophic strokes; brain and spinal cord injuries; neurological issues, sprains, strains and other injuries; and problems related to balance, speech, lymph edema and chronic pain. 

The center provides the most accredited program of its kind in San Diego County.

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

Bonnie Kutch

bkutch@kutchco.com

Kutch & Company                                       

Phone: (314) 968-3300

Susan Garritano

sgarritano@mccarthy.com

McCarthy Building Companies, Inc.

Phone: (619) 299-1010                                  

Mandy Vallowe Joins SightPlan as Chief Sales Officer

Mandy Vallowe

ORLANDO, FL— SightPlan™ recently announced that Mandy Vallowe has joined the company as chief sales officer.

 Vallowe has 20 years of experience in the multifamily industry and was formerly with Asset Essentials, a telecommunication consultancy focused on generating ancillary income for multifamily owners.

 In her role at SightPlan, Vallowe will be responsible for the company’s client relationships and will champion “white glove service” for new accounts joining the SightPlan platform.

 “I’m thrilled to have Mandy join the company and look forward to working with her to set an even higher standard for user experience and customer service as the platform continues to expand,” said Joseph Westlake, president of SightPlan

 Vallowe started her career in multifamily in 1994 with Network Multifamily, holding several key positions from 2005 to 2010.

  She was senior vice president and played a central role in establishing the company as the leading provider of monitored alarms to the multifamily industry.

Joseph Westlake

There, she helped deliver revenues of over $35 million, EBITIDA of more than 14 million and more than 200,000 sites serviced.

Network Multifamily was a subsidiary of Protection One, the second largest security company in America (NASDAQ: PONE), from 2001 to 2010. 

Vallowe’s multifamily efforts delivered significant value to her clients and to Protection One, which was acquired for nearly $900 million.

To learn more about SightPlan, please visit sightplan.com.

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

Angela McCord, SightPlan media@sightplan.com

eLynx Expedite® Awarded MISMO Certification

Michael Fratantoni

WASHINGTON, D.C. (Sept. 22, 2014) – Mortgage Industry Standards Maintenance Organization (MISMO®) is pleased to announce that Expedite®, the services platform from eLynx, has been awarded Premiere Level certification under the MISMO Software Certification Program. 

 Expedite is the first product to receive this important designation from MISMO.

“We congratulate eLynx for being the first company to obtain a certificate for one of its products through MISMO’s software compliance certification program,” said MISMO President Mike Fratantoni. 

“We believe this certification program will be valuable for lenders and the entire mortgage industry because it provides clear assurance regarding compatibility in order to meet regulatory and counter party requirements.”

MISMO® is the standards development body for the mortgage industry. The use of MISMO standards reduces processing costs, increases transparency and boosts investor confidence in mortgages as an asset class, while creating cost savings for the consumer.

For more information, visit www.mismo.org.

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

Rob Van Raaphorst

rvanraaphorst@mba.org

(202) 557-2799

Stonehill Strategic Capital Forms $50 Million Stonehill Strategic Hotel Credit Opportunity Fund

Greg Friedman

  ATLANTA, GA Sept. 22, 2014—Stonehill Strategic Capital, LLC (“SSC”), an affiliate of Peachtree Hotel Group II, LLC (“Peachtree Hotel Group”), today announced the first closing of Stonehill Strategic Hotel Credit Opportunity Fund, with initial equity commitments to purchase approximately $50 million of interests.

The fund will use the proceeds from its offering to provide permanent mortgages, bridge loans, mezzanine debt, preferred equity and discount note purchases, with a target of acquiring or originating up to $300 million of hotel financing. 

 The fund will assemble a portfolio of debt instruments secured by premium branded, limited- and select-service hotels in secondary markets, geographically dispersed throughout the United States.

 Proceeds from the fund will enable SSC to swiftly and efficiently underwrite and quickly close at higher loan-to-value levels, giving SSC a unique advantage over its competitors and traditional bank lenders.

“We provide creative financing structures along with higher leverage debt positions to allow borrowers to reduce their equity requirements on acquisitions, refinancings and recapitalizations,” said Greg Friedman, CEO of both Peachtree Hotel Group and SSC.

Matthew Crosswy

 “Our fund will play a key role in completing the capital stack.  In addition to providing first mortgages, we will provide mezzanine debt and preferred equity financing structures.  

"Our lending program will allow for total leverage of up to 85 percent loan to cost. Our extensive experience and relationships in the hotel industry will help us identify and execute viable transactions.”

“We believe the current hotel environment and outlook continues to offer excellent opportunities for experienced hoteliers,” said Mat Crosswy, president of SSC.  “While debt funding is more readily available, obtaining higher leverage remains difficult for most borrowers.  That’s where we believe this fund will excel.”

“Our past capital deployment programs have achieved tremendous results for our borrowers and investors thus far, and we look forward to continued, positive growth.”

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

    Chris Daly, media

    (703) 435-6293

   chris@dalygray.com

RealtyTrac Reports Top Markets for Boomers Include Wilmington, NC, Punta Gorda, FL and Phoenix, AZ; Millennials Migrating to Washington DC, New Orleans, LA and San Francisco, CA

Daren Blomquist

IRVINE, CA -- RealtyTrac analyzed Census population data between 2007 and 2013 in more than 1,800 counties nationwide to discover which markets are seeing the biggest shifts in both baby boomer and millennial populations, overlaying that data with information on median prices, price appreciation and rental rates to create a heat map of their migration patterns.

he analysis further focused in on the top 10 counties for increases and decreases in both millennials and baby boomers.

“The millennial generation is the key to a sustained real estate recovery and boomers who are downsizing are helping open the door for many first time homebuyers while also driving demand for purchases and rentals in the markets where they are moving,” said Daren Blomquist, Vice President of RealtyTrac.

 “Naturally, millennials are attracted to markets with good job prospects and low unemployment but that tend to have high rental rates and high home price appreciation, while boomers are moving to lower populated areas which have slower home price appreciation.”

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

 Ginny Walker

 Office: 949.502.8300 ext. 268

 Mobile: 323-317-5852  

 ginny.walker@realtytrac.com

HFF closes sale of and arranges acquisition financing for 8 West Centre in Houston, TX

8 West Centre, West Sam Houston Tollway, Houston, TX

HOUSTON, TX – HFF announced it has closed the sale of and arranged acquisition financing for 8 West Centre, a newly-completed, Class A office building along the West Sam Houston Tollway in Houston.

               HFF marketed the property on behalf of the seller, Core Real Estate.  Azrieli Group, a real estate investment and development company based in Tel Aviv, purchased the asset for an undisclosed amount free and clear of debt.

 HFF assisted Azrieli in securing a five-year, fixed-rate acquisition loan through Aegon USA Realty Advisors, LLC, a commercial real estate investment and management arm of Aegon Asset Management.

Dan Miller

               Completed in 2013, 8 West Centre is a 227,045-square-foot, four-story property with a 938-space parking garage. 

The LEED Silver designated building is fully leased to two tenants: Cameron International Corporation, which uses the facility as their divisional headquarters for their surface systems division, and Helix Energy Solutions, who has their global headquarters at the site.

  Situated on nine acres on the west side of Beltway 8, the property is located at 3505 West Sam Houston Parkway North, just north of Kempwood Drive in the West Belt Corridor of Houston.

               The HFF investment sales team representing the seller was led by senior managing directors Dan Miller, Rusty Tamlyn and Mark West and director Trent Agnew.

               HFF’s debt placement team was led by managing director Matt Kafka and senior managing director Wally Reid.

 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 three-building Class A office portfolio in Austin, TX

Canyon at Wild Basin office building, Austin, TX

DALLAS, TX – HFF announced today that it has closed the sale of Stonecreek I and II and Canyon at Wild Basin, a three-building, Class A suburban office portfolio totaling 314,399 square feet in Austin, Texas. 

HFF marketed the property exclusively on behalf of the seller, Intercontinental Real Estate Group.  A private real estate fund advised by Crow Holdings Capital – Real Estate purchased Stonecreek I and II, and CapRidge Partners LLC purchased Canyon at Wild Basin. 

Both properties were sold free and clear of existing debt for an undisclosed amount.   

Stonecreek I and II are located at 11920 and 11921 North Mopac Expressway just north of The Domain in northwest Austin. 

 Situated on a combined 9.57 acres, the complex represents 239,819 square feet of the total portfolio.  

Stonecreek I and II are 97.9 percent leased to CoreLogic (First American Real Estate Solutions), Time Warner, Century Link, Intellimark, TSMC and Siemens.

 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 Los Angeles expands its investment sales team with multi-housing specialist

Blake Rogers

LOS ANGELES, CA – HFF announced Blake Rogers has joined the firm as a director in its Los Angeles office to focus on middle market multi-housing investment sale transactions in the Greater Los Angeles market. 

Rogers joins HFF from Charles Dunn Company where he was a managing director specializing in the sale of multi-housing properties and multi-housing land for development.

 To date, he was directly involved in the sale of more than 1,800 units totaling more than $225 million in volume.  Rogers was honored as one of Southern California’s Rising Stars by Real Estate Forum magazine in June 2013.

“Blake will be focused on middle market multi-housing investment sales in the greater Los Angeles area and will work closely with our larger Southern California multi-housing investment sales team, as well as our debt placement team,” said Kevin MacKenzie, senior managing director and co-head of HFF Los Angeles. 

“We are excited to have him join us as we continue to completely fill out our platform in Los Angeles with this focus and look forward to adding significant value for our clients.”

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 northwest Houston, TX Class A warehouse

Rusty Tamlyn

HOUSTON, TX – HFF announced it has closed the sale of 15151 Sommermeyer, a 57,550-square-foot, tilt wall, crane-served warehouse and distribution center in Prologis Park West by Northwest in Houston, Texas.

HFF marketed the property on behalf of the seller, Foundation Properties.  Prologis, Inc. purchased the center for an undisclosed amount free and clear of existing debt.

15151 Sommermeyer sits on approximately 3.4 acres at the intersection of U.S. Highway 290 and Sam Houston Parkway, the epicenter for the overall Houston industrial market.  

The property consists of 31,850 square feet of grade level warehouse space with three large crane-served bays, a 26-foot clear height and 21,900 square feet of office space.  The asset is 100 percent leased to Proserv Operations, Inc., a global oilfield services firm.

The HFF investment sales team was led by senior managing director Rusty Tamlyn and real estate analyst John Rogers.

Prologis Park West by Northwest, Houston, TX

“This freestanding building is ideal for oilfield-related tenants as proven by its excellent occupancy history since being constructed in 1991,” Tamlyn said.  

“Prologis was the logical buyer since they developed most of the park and now own 20 of the 26 buildings comprising the park,”

Prologis, Inc., the leading global provider and operator of logistics infrastructure, is the largest industrial REIT in the world and is focused on global and regional markets across the Americas, Europe and Asia.  Visit their website at www.prologis.com to learn more.

  

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 $12.17 million sale of Freeport Distribution Center in Phoenix, AZ

Freeport Distribution Center,
5240 and 5302 West Buckeye Road
Southwest Phoenix, AZ

IRVINE, CA – HFF announced it has closed the sale of Freeport Distribution Center, a two-building, 219,240-square-foot distribution center in Phoenix, Arizona. 

HFF marketed the property on behalf of the seller, IDI Gazeley, part of Brookfield Logistics Properties under the Brookfield umbrella. 

  An affiliate of Lincoln Property Company purchased the center for $12.17 million free and clear of existing debt.

Freeport Distribution Center is a light industrial center situated on 10.92 acres at 5240 and 5302 West Buckeye Road in southwest Phoenix.

Ryan Martin

 The asset is located less than two miles away from Interstate 10.  Built in 1989 and expanded in 1996, the property includes ceiling heights of 25 feet at 5240 West Buckeye and 28 feet at 5302 West Buckeye, a shared truck court depth ranging from 240 to 260 feet, oversized ramp doors and fenced yards.

 The center is leased to four tenants, including Nestle Waters North America Inc.; Hardwoods Specialty Products US LP; Moulding & Millwork, Inc., Pacific; and INS Brokers, Inc. dba ViaTek Solutions.  

The property was 72-percent occupied at the time of closing, providing significant additional value through lease up.

The HFF investment sales team was led by managing director Ryan Martin along with senior managing directors Anthony J. Brent and Brett Tremaine, director Ryan Fitzpatrick and associate director Tom Simmons.   

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