EagleBridge Capital Arranges $3,456,000 Financing For Boston Condo Construction

71 Marlborough Street, Back Bay Neighborhood, Boston, MA

Boston, MA -- EagleBridge Capital has arranged a total of $3,456,000 in mortgage acquisition/construction financing for two units located in Boston, Massachusetts working exclusively on behalf of its client, Neelon Properties.

 EagleBridge principals Ted Sidel and Brian Sheehan arranged a $1,800,000 mortgage for a unit located at 193 Beacon Street plus a $1,656,000 mortgage for a unit located at 71 Marlborough Street in Boston’s Back Bay neighborhood.  The lender was a leading financial institution.  

Ted Sidel

The Beacon Street property is a two–story, 2062 square foot unit with two bedrooms, two and one half-baths, hardwood floors, high ceilings, a patio, and a garage on top of which is a landscaped terrace. 

Both the garage and terrace are accessible from the unit. The  Marlborough Street unit is a two-story, 1753 square foot duplex with three bedrooms, one and one-half baths, hardwood floors, and high ceilings. There are two parking spaces.

 The interiors of both the Beacon Street unit and the Marlborough Street unit are being reconfigured and fully renovated to the highest standards of quality.

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for apartment, office, industrial, r & d buildings, hotels, condominium buildings and mixed use properties as well as special purpose buildings.

Brian Sheehan

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

www.eaglebridgecapital.com

HFF arranges $56.5 million permanent financing for newly-built hotel in Boston’s Fenway area

  

Robyn King

 BOSTON, MA – HFF announced today that it has arranged $56.5 million in permanent financing for the Residence Inn Boston/Back Bay Fenway, a newly-built, 175-key, extended stay hotel in Boston’s Fenway/Kenmore neighborhood.

                HFF worked exclusively on behalf of the borrower, Boylston Properties, to secure the 10-year, fixed-rate loan through Cornerstone Real Estate Advisers on behalf of an institutional lender. 

                Completed in July 2013 in a contemporary urban design, The Residence Inn Boston/Back Bay Fenway is an eight-story, 154,684-square-foot hotel with studio, one-bedroom and two-bedroom guestrooms.  

Amenities include a breakfast area, lounge/bar, meeting room, indoor pool, fitness center, outdoor terrace on the top floor, and below-grade parking for 50 cars.  

Frederic A. Wittmann

The property also includes approximately 6,000 square feet of ground floor retail spaced leased to Bar Louie’s and Santander. 

  Located at 125 Brookline Avenue, The Residence Inn is immediately north of the Longwood Medical and Academic area and blocks from Boston University, Northeastern University, Fenway Park and the Fenway Triangle redevelopment area. 

The hotel has convenient access to public transportation via the MBTA Green line subway lines as well as the MBTA’s Framingham/Worcester commuter rail line. 

                The HFF debt placement team representing the borrower was led by senior managing director Fred Wittmann and senior real estate analyst Robyn King.

“One of the pioneers of the Fenway revitalization, Boylston Properties continues its success in the neighborhood with the development of this exceptional hotel, which rose to one of the top five performing Residence Inns in the country in 2013,” said Wittmann. 

Residence Inn Boston/Back Bay Fenway

  “On behalf of an institutional lender, Cornerstone Real Estate Advisers wisely outshined the competition to win this financing opportunity, and upheld its distinction through a smooth process.”

                Boylston Properties is an urban mixed-use developer based in Boston, with more than 30 years of experience in a wide range of successful projects including corporate headquarters, retail, office, residential, research facilities and mixed-use properties. 

  

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

Affordable Senior Housing Community Reopens in Decatur, IN

  

Village Green Senior Apartments, 1109 Bollman Street
Decatur, IN

DECATUR, IN, Oct. 13, 2014 – WNC, a national investor in real estate and community development initiatives, announced today the redevelopment of Village Green Senior Apartments, a 112-unit affordable senior housing community in Decatur, Ind., is complete. 

WNC provided $6.06 million in low-income housing tax credit (LIHTC) equity to fund the project.

Village Green Senior Apartments was redeveloped by Biggs TC Development LLC. The general partner of the project, Adams County III, L.P., received the LIHTC equity for the redevelopment.

“WNC is pleased to have helped preserve Village Green Senior Apartments and to upgrade the units within to provide residents with high quality amenities,” said WNC Executive Vice President and Chief Operating Officer Michael Gaber.

Michael Gaber

“Throughout the nation, the stock of affordable housing is falling far short of demand, and WNC is committed to doing all that we can to preserve and expand quality affordable housing for all Americans.”

Located at 1109 Bollman St., Village Green Senior Apartments consists of one- and two-bedroom single-story, garden-style units. The property is available to seniors ages 62 and older, earning between 30 and 60 percent of the area’s median income.

 Community amenities include a computer center, laundry facility, gazebos, community room, picnic area, gardening area and on-site management.

Each unit is equipped with an electric range, refrigerator, garbage disposal, ceiling fans, patio, carpet, central air conditioning and washer/dryer.

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

Julie Leber

Account Manager

Spotlight Marketing Communications

18101 Von Karman Avenue, Suite 300

Irvine CA 92612

949-427-5172, ext. 703

julie@spotlightmarcom.com

Kiser Group Brokers $7.89 Million Sale of Germania Club Building in Chicago’s Gold Coast

  

Germania Club Building, 108 West Germania Place,
Gold Coast Neighborhood, Chicago, IL

 CHICAGO, IL (Oct. 13, 2014) – Kiser Group, Chicago’s leading mid-market commercial real estate brokerage firm, brokered the sale of the Germania Club Building, a historic 40,634-square-foot mixed-use building at 108 W. Germania Place in Chicago’s Gold Coast neighborhood. 

The property fetched a $7.89 million sale price.

Designed in 1888 by architectural firm Addison & Fielder for prominent members of Chicago’s German-American community, the building has become one of the North Side’s most recognizable properties.

Listed on the National Register of Historic Places, the Germania Club Building features two grand ballrooms with 50’ ceilings that serve to host corporate, civic and private events, as well as a mix of retail and office tenants including Starbucks, T-Mobile and Lincoln Park Preparatory. The property is 100 percent leased.

Bill Baumann

“This was an amazing chance to purchase not only a piece of Chicago history, but also a fully stabilized investment property in one of Chicago’s best neighborhoods,” said Bill Baumann, senior managing director for Kiser Group, who brokered the transaction.

“The asset is very well-maintained and boasts a mix of stable, long-term tenants. This is only the third time this property has come to market in its storied history, making it a very unique opportunity.”  

Located near the intersection of Clark Street and North Avenue and directly across from the Latin School and Chicago History Museum, the Germania Club Building is one of the city’s architectural gems, said Baumann. It was designated a Chicago landmark in 2011.

  

The ballrooms reflect ornate Victorian architecture, with inset gold domes, original chandeliers and 20’ arched-windows.

“Space like this simply isn’t designed anymore,” said Baumann. “The Germania Club has been a staple of Chicago for more than a century and with its historic, old-world feel, it is sure to remain a top destination for some of the city’s premier special events for decades to come.”

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

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

HFF arranges $20 million refinancing for two multi-housing communities in Minnesota and South Dakota

Hainesway Apartments, 1314 Atlas Street
 Rapid City, SD

DENVER, CO – HFF announced today that it has arranged a combined $20 million refinancing for two multi-housing communities: Hinton Heights Rental Homes in Cottage Grove, Minnesota, and Hainesway Apartments in Rapid City, South Dakota.

                HFF worked on behalf of Cottage Grove Investors and Hainesway Apartments LLC to secure the 10-year, fixed-rate loans through a delegated Fannie Mae underwriter/servicer.

                Hinton Heights Rental Homes is located at 7750 Hinton Avenue South in the Saint Paul, Minnesota, suburb of Cottage Grove near the juncture of the Mississippi and St. Croix Rivers.  The 249-unit community offers one-, two- and three-bedroom townhome-style units.  Residents enjoy amenities such as private entries, in-unit washer/dryers, walk-in closets, garage parking, an indoor pool, fitness center, party room and dog park.

Hinton Heights Rental Homes
7750 Hinton Avenue South
Cottage Grove, MN

Hainesway is located at 1314 Atlas Street in Rapid City, South Dakota, less than 25 minutes from Mount Rushmore National Memorial and less than 15 minutes from the entrance to the Black Hills National Forest. 

  The 244-unit community offers affordable living close to shopping, dining and easy interstate access.  

The community has many amenities including an indoor swimming pool, hot tub, sauna, fitness center, basketball court, volleyball court, dog park, party room and business center.

The HFF team representing the borrower was led by associate director Brock Yaffe along with real estate analysts Kristian Lichtenfels and Matt Gangaware.

Brock Yaffe

According to a representative of both Cottage Grove and Hainesway, “Our firm recently closed two multifamily loans with HFF totaling $20 million.  When I was referred to HFF, I was assured they would ‘cover the market’ and cover they did.  

"HFF sent the loan request to an excess of 25 lenders and produced quotes from a multitude of sources – including life companies, Fannie Mae and Freddie Mac – assuring that we received the absolute best terms available in the market.

"  HFF efficiently managed the process from packaging, marketing, coordinating third party reports, early rate lock to the successful closings.”

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 closes sale of Park Lake Apartments in San Francisco suburb on behalf of Carmel Partners

Park Lake Apartments, 100 Park Lake Circle
Walnut Creek, CA

SAN FRANCISCO, CA – HFF announced today that it has closed the sale of Park Lake Apartments, a 184-unit, garden-style multi-housing community in the northeastern San Francisco suburb of Walnut Creek, California.

                HFF marketed the property on behalf of the seller, Carmel Partners.  The asset was purchased by TIAA-CREF.

Park Lake Apartments is located at 100 Park Lake Circle at the intersection of Ygnacio Valley and Bancroft Roads, within a short drive of two Bay Area Rapid Transit System (BART) stations and in close proximity to downtown Walnut Creek. 

Nathan Blair

Situated on 10.5 acres, the community includes 96 one-bedroom and 88 two-bedroom units averaging 876 square feet each.  Community amenities include a heated swimming pool and spa, fitness center and assigned covered parking. 

The HFF investment sales team representing the seller was led by director Nathan Blair, with support from senior real estate analyst Adam Simon and real estate analyst Michael McDermott.

“The acquisition of Park Lake Apartments is consistent with our integrated approach to value-add apartment investments,” said Jay Martha, managing director of North American Real Estate for TIAA-CREF Asset Management.

Based in San Francisco, Carmel Partners (Carmel) is a premier, full-service real estate investment firm specializing in multifamily transactions within the United States.  Founded in 1992, Carmel also has offices in New York, Irvine, Denver, Seattle, Washington, D.C. and Honolulu.  

Adam J. Simon

Carmel is currently pursuing direct value-add apartment properties, ground-up development, debt investments and joint venture deals in its core markets of Northern and Southern California, New York, Seattle, Denver, Washington, D.C. and Hawaii.

TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with $844 billion in total assets under management (as of 6/30/2014) and is the leading provider of retirement services in the academic, research, medical and cultural fields.

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

Cohen Commercial Realty Brokers Three New South Florida Leases

Bryan S. Cohen

Beres Design Group Takes 1,660 SF in Jupiter, FL

Jupiter, FL — Bryan S. Cohen and Chris Haass of Cohen Commercial Realty, Inc., announced the signing of Beres Design Group, to lease a 1,660 -square-foot end-cap space at Fisherman’s Wharf located on East Indiantown Road. Cohen

Commercial Realty, Inc., represents the tenant.

Blowtox Leases 1,387 SF in Wellington, FL

Wellington, FL — Bryan S. Cohen and Chris Haass of Cohen Com

mercial Realty, Inc., announced the signing of Blowtox, to lease a 1,387-square-foot  second location at Village Green Center where they will be joining Trader Joe's, State Farm, PDQ, Buffalo Wild Wings and McDonald's. This plaza is located on the corner of

Stribling Way and State Road 7, just south of the Wellington Green Mall.

Medical Center Associates of Boca Raton Occupies 3,207 SF in Boynton Beach, FL

Chris Haass

Boynton Beach, FL— Bryan S. Cohen and Chris Haass of Cohen

Commercial Realty, Inc., announced the signing of Medical Center Associates of Boca Raton, to lease a 3,207-square-foot end-cap space at 9770 South Military Trail, just south of Old Boynton Road. Cohen Commercial Realty, Inc., represents the tenant.

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

Nicole Luciano

561.471.0212 Office

561.471.5905 Fax

nicoleluciano@cohencommercial.com

www.cohencommercial.com