Monday, November 10, 2014

Marshall Hotels & Resorts Reflags Ramada Wayne Fairfield, NJ for New Jersey’s Paradigm Hotels

Mike Marshall
SALISBURY, MD, Nov. 10, 2014—Marshall Hotels & Resorts, Inc., a leading hotel management and services company that operates properties nationwide, announced the opening of the Ramada Wayne Fairfield Area, the first hotel asset to be owned by Paradigm Hotels LLC, a New Jersey-based real estate investment company formed to specialize in hotel development. 

The former Wayne Fairbridge Suites will undergo exterior upgrades and landscaping enhancements as well as room upgrades to complete the conversion to the Ramada flag that began July 10.

"The Ramada name is well-known the world over," said Tom Collins, Managing Member of Paradigm Hotels.

 "We are confident that by affiliating with Wyndham Worldwide's family of brands, we will better position this hotel to meet the demands of this bustling community and the businesses headquartered here.”

Ramada Wayne Hotel, Wayne, NJ
“With Manhattan so close, the Wayne Ramada is a great option for travelers who want easy access to the city, without paying city prices," said Mike Marshall, president of Marshall Hotels and Resorts.  

  "The Ramada branding opens up this hotel to more than 10 million Wyndham rewards customers who value the travel benefits they accrue from more than 7,700 hotels and vacation rentals worldwide."
For a complete copy of the company’s news release, please contact:

Lauralee Dobbins, media
Daly Gray Public Relations
(703) 435-6293

Hines and Cousins Properties Partner to Develop Victory Center Office Tower in Dallas, TX

Rendering of planned Victory Center, Uptown Dallas, TX
DALLAS, TX --The Dallas office of Hines, the international real estate firm, and Cousins Properties Incorporated (NYSE: CUZ), the Atlanta-based REIT, announced today the formation of a joint venture to develop Victory Center in the Uptown Dallas submarket.

Designed by Duda/Paine Architects, Victory Center will be a 23-story, trophy office tower with approximately 466,000 rentable square feet of office and retail space and is expected to achieve LEED® Gold designation.

The 2.94-acre, fully entitled site is under contract, and Hines and Cousins expect to commence construction in mid-2015.

Hines and Cousins previously partnered on the development of One Ninety One Peachtree Tower in Atlanta. The 1.2 million-square-foot, 50-story office tower was completed in 1990.

Cynthia Cowen
Hines Southwest Regional CEO Mark Cover stated, "We are very excited about the opportunity to partner with Cousins again. They have a wonderful reputation for developing and owning best-in-class office towers. We look forward to leveraging the very best that our firms have to offer in the development of Victory Center."

"We are thrilled to once again partner with Hines, a true global leader in office development," said Larry Gellerstedt, president and chief executive officer of Cousins.

"Our organizations share very similar cultural values and highly complementary skillsets. Victory Center will be an excellent addition to the thriving Uptown Dallas office market, and we couldn't be more excited to be a part of the transformation occurring at Victory Park."

Victory Center will be located just north of Hines' One Victory Park office development which was delivered in 2008 and is currently 93 percent leased.

Bill Brokaw
Victory Center will also benefit from market leading amenities and attractions in close proximity including the DART Rail System, the popular Katy Trail, W Dallas Victory Hotel, American Airlines Arena and numerous retail and restaurant destinations.

Tenants can also expect a strong amenity base at Victory Center, featuring a state-of-the-art fitness center, a conference center, an on-site restaurant and café, and a rooftop terrace with panoramic views of Dallas.

Bill Brokaw, Cynthia Cowen and Mark Dickenson of Cushman & Wakefield will lease Victory Center on behalf of Hines and Cousins.

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

George Lancaster, 713-966-7676
Cousins Properties Incorporated
Marli Quesinberry, 404-407-1898

Lincoln Property Company Southeast Brokers Sale of Fortune 100 Data Center in Metro Atlanta

Denton Shamburger
ATLANTA, GA (Nov. 10, 2014) – Lincoln Property Company Southeast (Lincoln) has handled the $50 million sale of a 184,553-square-foot data center in suburban Atlanta.

Datawind LLC sold the property, which is fully occupied by a AA+ rated credit tenant on a long-term lease. Carter Validus Mission Critical REIT purchased the property, which is located in Alpharetta in metro Atlanta’s North Fulton submarket, in September 2014.

Tony Bartlett, Denton Shamburger and Chip Sipple of Lincoln represented the seller in a direct transaction with Carter Validus.

The data center was originally constructed in 1986 for Contel Corporation and sits on a beautiful 21-acre site in Windward Concourse Office Park. Datawind LLC purchased the property in 1992.

Tony Bartlett
Alpharetta is known as the “Technology City of the Southeast,” and the North Fulton submarket is home to one of the highest concentrations of corporate data center facilities in the region. 

The submarket’s educated labor force, fiber optic networks and abundant power supply have made this area a mecca for data centers.

“This property generated a very high level of interest in the marketplace due to the credit worthiness of the tenant, the importance of the facility and the location within the submarket,” said Bartlett, senior vice president at Lincoln who oversees the firm’s Atlanta office.

“Not only was our client pleased to complete the sale, but the buyer was able to obtain a data center possessing tremendous technical attributes with an incredibly high-credit tenant.”
For a complete copy of the company’s news release, please contact:

Stephen Ursery
The Wilbert Group

Faris Lee Investments Completes $12 Million Sale of NNN-Leased, Single Tenant Retail Property Occupied by LA Fitness in Goodyear, AZ

LA Fitness,  1382 South Cotton Lane, Goodyear, AZ
 IRVINE, CA, Nov. 10, 2014 – Faris Lee Investments, a leading retail advisory and investment sales firm, has completed the $12 million sale of a 45,000-square-foot, single tenant, NNN-leased retail property occupied by LA Fitness in Goodyear, Ariz., a growing suburb of Phoenix. 

Matthew Mousavi
Chris Tramontano, Patrick Luther and Matthew Mousavi of Faris Lee Investments represented the seller, DTD – Devco 9, LLC, out of Scottsdale AZ. The buyer, a private family trust from Los Angeles, was represented by Republic Commercial Real Estate.

The buyer was in a 1031 exchange up-leg with a property out of California and placed a small loan on the asset to cover debt as part of its 1031 exchange. The closing cap rate was 6.8 percent.

LA Fitness is on a long-term 15-year lease with approximately 11 years remaining on its initial term.

Built in 2009, the property is located at 1382 South Cotton Lane at the signalized hard corner intersection of South Cotton Lane and West Yuma Road and near Interstate 10. The asset offers unobstructed street visibility with monument signage.

“Faris Lee highlighted the strong credit tenant with a corporate lease guarantee, and marketed primarily to private, out-of-state buyers with a particular focus on California investors,” said Mousavi.

Patrick Luther
 “Our marketing campaign generated more than 10 offers, from institutional and private investors. In this situation the private market was more aggressive than the institutional buyer pool by over 50 basis points.”
Tramontano added, “Faris Lee highlighted the high growth trade area that the property is located within, and overcame the objections of vacant outparcels and undeveloped land surrounding the property by focusing on tenancy and the future growth potential of the rest of the center and trade area.”

The LA Fitness property is located in a thriving area retail corridor. It is near Canyon Trails Town Center, a 435,000-square-foot power center with tenants Target, World Market, PetSmart, Fry’s, Dollar Tree, and Famous Footwear. It is the only fitness center within a three-mile radius which has a population of more than 34,000 residents.

This Phoenix-area sale marks the third transaction Faris Lee has completed over the past three months to California-based buyers totaling nearly $48 million. These sales provide testimony to the trend that California capital is seeking opportunities in growing markets in nearby states such as Arizona.

The firm announced the $22 million sale of Watson Marketplace, a fully leased, 90,000-square-foot retail center located in Buckeye, Ariz., to a San Diego buyer in September. Last month, Faris Lee completed the $13.7 million sale of a multi-tenant retail property fully occupied by LA Fitness, OfficeMax, Carter’s, and Styles for Less in Peoria. 

Chris Tramontano
“The California market continues to be highly competitive. Cap rates are already compressed to historical lows, and there are many who believe they have room to compress further,” said Richard Chichester, president and CEO of Faris Lee Investments.

“Consequently, California investors seeking yield are increasingly attracted to out-of-state markets. Arizona is an area of particular interest for California investors because of its proximity and improving economy. In the past year we’ve placed better than 55 percent of our California capital in out-of-state investments.”

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

Darcie Giacchetto
Spaulding Thompson & Associates

R3 Funding Arranges $3.56 Million Loan for Columbus, OH Corporate Housing Development

Ray Potter
NEW YORK, NY – Nov. 10, 2014) – R3 Funding, a national lender correspondent providing origination and workout services, has arranged a $3,562,000 fixed rate CMBS loan for Autumn Chase Apartments, a 76-unit corporate housing property in Columbus, OH. The announcement was made by Ray Potter, managing partner of R3 Funding.

The CMBS financing that R3 Funding arranged is for a 10-year term and features a 30-year amortization. The LTV is 75 percent.

The Autumn Chase Apartment community was created to meet the unique requirements of traveling professionals temporarily assigned to the Columbus area seeking quality apartment living at attractive pricing.

  It is conveniently located so that all major corporate and medical facilities are within a short commute.

“This was a difficult transaction given the property operates like a hotel and 90+ percent of the tenants are on month to month leases,” said Mr. Potter.

“The loan was difficult to underwrite given the short term 'leases,' but R3 Funding was able to build a promising picture around the historical operating statements, the local and national businesses in the area and the top corporate accounts associated with the asset.”

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

CBRE Lists Prime Office Building for Sale in Southwest Orlando, FL

Sand Lake Southwest office building, Sand Lake Road and Turkey Lake Road
Southwest Orlando, FL

Ronald J. Rogg
ORLANDO, FL -- CBRE, as exclusive advisor, is pleased to offer Sand Lake Southwest for sale in the South Orlando office submarket.

This investment opportunity offers below market rents and strong credit tenancy in an outperforming submarket. 

Institutionally owned and in excellent condition, Sand Lake Southwest (the "Property") is located in the Dr. Phillips/Tourist Corridor niche micro-market within South Orlando, minutes from the Orange County Convention Center, Universal Studios, Mall at Millenia, and Restaurant Row. 

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

Ronald J. Rogg, CCIM
Executive Vice President
+1 407 839 3194

Concord Hospitality Ranked Among Top Private Companies in North Carolina

Mark Laport

 RALEIGH, NC – Concord Hospitality Enterprises, one of the top-ranked hotel operators in North America, announced it has been recognized  as one of North Carolina's top 100 businesses according to  the 2014 Grant Thornton North Carolina 100® (NC100) program.

This exclusive ranking identifies the 100 largest, privately owned businesses in the state. 

  Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd, one of the world’s leading organizations of independent audit, tax and advisory firms, recognizes elite organizations who have unlocked their potential for growth for inclusion in the annual ranking.

“North Carolina boasts some of the most impressive and industrious companies in the United States, and to be counted on the same list as software giant, SAS, Belk's department stores and some of the best-known brands in the country, is truly humbling,” said Mark Laport, president and CEO of Concord Hospitality Enterprises.  

“North Carolina is very pro-business, which was one of the many deciding factors that drove our decision to move our headquarters here in 2003.”
 Concord, the only hospitality company to make the list ranked number 18 in a field of traditional North Carolina industries such as furniture and textile manufacturing as well as high tech enterprises, distributors and wholesalers and green industries. 

 Nominations for the award were received between May 15 and July 30. Survey results are published in the October issue of Business North Carolina magazine.

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

Chris Daly
(703) 435-6293

Lodging Econometrics Reports Pipeline Breaks Out as Development Accelerates; Hits 5-Year High

PORTSMOUTH, NH --       Lodging Econometrics reports the Hotel Construction Pipeline surged forward to a five-year high in Q3 with 3,516 Projects/443,936 Rooms.

The Pipeline has posted double-digit Year-Over-Year (YOY) increases for four consecutive quarters in both Projects and Rooms.

In 3Q14 YOY increases are up 25% and 24% respectively, signaling a breakout into the expansion phase of the current real estate cycle which is likely to continue another two-to-three years.
For a complete copy of the company’s news release, please contact:

Peter Martin
Marketing Manager
Lodging Econometrics
P: +1 603.431.8740, ext. 29
F: +1 603.770.0767

HSA Commercial Lands 59,895 SF Lease with Kuehne + Nagel at Industrial Spec Proj ect in Plainfield, IN

Gateway Industrial III, 1025 South Columbia Road, Plainfield, IN

CHICAGO, IL and INDIANAPOLIS, IN — HSA Commercial, Inc., announced the firm has executed a 59,895-square-foot lease with Kuehne + Nagel, Inc. at the firm’s speculative industrial development at 1025 S Columbia Road in Plainfield, Ind.

Kuehne + Nagel, a Switzerland-based global logistics service provider with more than a thousand offices and distribution centers around the world, will join Black Horse Carriers when the firm takes occupancy of its leased premises in February 2015.

Robert Smietana
 The Kuehne + Nagel signing brings the 220,000-square-foot Gateway Industrial III project to 54 percent leased with more tenant announcements planned soon.

“The strength of the Indianapolis industrial market has been very impressive since we launched this project a year ago,” said Robert Smietana, CEO and vice chairman of HSA Commercial.

“As demand, driven by pharmaceuticals and e-commerce, continues to outpace the level of development in the area, it makes sense to start exploring our options in terms of further investment in Indy.”

Gateway Industrial III distribution center, developed in partnership with Great Point Investors LLC, is located on 13 acres immediately southwest of the Indianapolis International Airport in the Gateway Business Park.

Mark Writt
The new facility features 32’ clear heights, 35 truck docks, 4 drive-in doors, 256 parking spaces, and quick access to Interstate 70 with convenient connectivity to the rest of the regional interstate system. This is the fourth building developed in the Gateway Business Park.

Dan Rose of Real Estate Advisory Partners and Mark Writt of CBRE represented Kuehne + Nagel in the transaction. Ownership was represented by Terry Busch and John Hanley of CBRE.

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

  Mark Thomton,, 312-267-4523

The Marquette Companies Breaks Ground on Luxury Rental High Rise Catalyst in Downtown Houston, TX

Darren Sloniger
Houston, TX – Chicago-based Marquette Companies, in partnership with Hunt Companies, Inc. and affiliates of Los Angeles based-Ares Management, announced the groundbreaking of Catalyst Houston, a 28-story luxury rental building located at 1423 Texas Ave. in Houston. The building is scheduled for completion during the summer of 2016.

 Designed by Houston-based architect Ziegler Cooper, Catalyst will include 361 luxury apartment homes with one-, two- and three-bedroom units. 

Residences will include luxury features and finishes such as hardwood flooring, quartz countertops, stainless steel appliances, 10-13-foot ceilings, floor-to-ceiling windows and a private balcony or terrace. Most will also offer a view of downtown Houston and nearby Minute Maid Park.

1423 Texas Avenue, Houston, TX;
 site of  planned Catalyst Houston apartments
“We’re very pleased to be one of the first major residential developments to break ground in downtown Houston. 

"We believe it is one of the best submarkets in the U.S. right now. The opportunity here is immense,” said Darren Sloniger, president of The Marquette Companies. “Catalyst will be a beautiful, sophisticated tower that will enhance the Houston skyline.”

The development is a joint venture between The Marquette Companies, Hunt Development and affiliates of Ares Management. Pepper Lawson will serve as general contractor and U.S. Bank is providing construction financing. 

Pre-leasing is expected to begin in spring 2016.
For a complete copy of the company’s news release, please contact:

Vanessa Irving,, (312) 267-4525
Kim Manning,, (312) 267-4527

HFF expands Washington, DC capital markets team; adds hotel practice group

Cyrus Vazifdar
WASHINGTON, D.C. – HFF announced it has expanded its Washington, D.C. capital markets team by adding a dedicated hotel transaction group to its existing business. 

The team will include Cyrus Vazifdar, an associate director in the investment sales group, and Mark Remington, a managing director in the debt group.

The HFF Washington, D.C. Hotel Team offers a full range of lodging-specific capital markets transaction capabilities, including investment sales, debt placement and equity placement, focusing on the execution of Mid-Atlantic lodging transactions. 

The team is part of HFF’s national hotel group led by Daniel Peek, which has closed more than $1.2 billion in investment sales, debt placement and equity placement transactions through second quarter 2014.

Mark Remington
 The HFF hotel group is comprised of more than 30 hotel professionals across the company’s investment sale, debt placement and equity placement platforms, located throughout 23 offices nationwide.

Cyrus Vazifdar will focus on hotel and lodging investment sales transactions primarily in the Mid-Atlantic states, with a specific focus on the Washington, D.C. lodging market.  

Vazifdar has been with HFF since 2011, initially as a member of HFF Miami before relocating to the Washington, D.C. office to establish HFF Washington, D.C.’s first hotel investment sales practice. 

  Prior to that, he earned his MBA from the George Washington University.  He began his career in commercial real estate at Canyon Equity, focusing on the acquisition and development of ultra-luxury hotel and residential properties.  Vazifdar received his bachelor’s degree from Villanova University.

Daniel Peek
Mark Remington, who has been with HFF since 2004 and has more than 30 years of finance and sales experience, will focus on hotel and lodging debt and equity placement transactions. 

  Prior to HFF, he was a vice president of capital markets at Cassidy & Pinkard and before that was a commercial real estate lender for 14 years.  

Remington holds a Bachelor of Science from the University of California – Davis and a Masters of Business Administration from Cornell University.

“We are truly pleased to announce that Cyrus Vazifdar has relocated to Washington D.C. from Miami, where he has been a key member of our hotel practice for the past three years,” noted Dan Peek, senior managing director and the leader of HFF’s hotel industry practice. 

Marriott Marquis Convention Center
  “Cyrus has contributed greatly to the dramatic growth of our hotel business and will now enhance his role from our office in Washington.” 

Since 2012, the HFF Hotel Team has executed more than $1.2 billion in Mid-Atlantic hotel transaction activity, including the construction financing for the newly opened Marriott Marquis Convention Center, and the sale of the eight-property Skye Hotel Portfolio.

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 |

HFF Brokers Sale of Greystone’s Printhouse Lofts in Williamsburg, Brooklyn, NY to Clarion Partners

Printhouse Lofts, 139 North 10th Street,
Williamsburg Neighborhood, Brooklyn, NY

 NEW YORK, NY – Greystone, a New York-based real estate development and financial group, is pleased to announce the sale of Printhouse Lofts, a 36-unit luxury apartment building in Williamsburg to Clarion Partners, a leading real estate investment manager.

The sale was arranged by Jeff Julien, managing director, Rob Hinckley, director and Andrew Scandalios, senior managing director at HFF, one of the largest commercial real estate capital intermediaries in the country.

Located at 139 North 10th Street between Berry Street and Bedford Avenue, the 1900’s industrial-style warehouse was transformed by Greystone into a luxury rental apartment building offering high-end, industrial fixtures with modern amenities.

 Printhouse Lofts is currently 100 percent leased.

“We couldn’t be more thrilled with the outcome for the conversion, development and positioning of Printhouse Lofts,” said Jeff Simpson, head of Greystone’s property development group.

Jeff Julien
“Knowing they are familiar and active in the NYC market, we are pleased that Clarion Partners recognized the opportunity to acquire such a strong core asset in a desirable submarket.”

“We believe that Printhouse Lofts is a top institutional-quality asset in one of New York City’s fastest growing and popular neighborhoods,” noted Gary Rufrano, a director at Clarion Partners.

“We are very pleased to expand our apartment portfolio in Williamsburg and believe this property will nicely complement 44 Berry Street, another Williamsburg loft apartment building that we own nearby.”

 The apartment mix within the pet-friendly elevator building consists of 28 one-bedrooms, six two-bedrooms and two three-bedrooms.

Two of the ground floor apartments boast 50-foot-long glass solariums. The units feature stainless steel appliances, farmhouse sinks and natural stone countertops and have soaring 11 to 13-foot ceiling heights.

Rob Hinckley
 Printhouse Lofts amenities include a virtual doorman, video intercom system, laundry machines on all floors, bike storage and 2,500 square feet of shared roof deck space, offering 360-degree panoramic views of both the Brooklyn and Manhattan skylines.

“Greystone built a high-quality product in a desirable location that yielded very strong buyer interest,” added Julien.

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 |

$40.845 million financing for student housing development serving Cal State San Bernardino secured by HFF

Adam F. Herrin

DALLAS, TX – HFF announced it has arranged $40.845 million in financing for The Glen at University Park, a 520-bed student housing development that will serve the California State University campus in San Bernardino, California.

Working exclusively on behalf of a venture between University Park Promenade & Shops, LLC (an affiliate of J.R. Watson & Associates) and Capstone Development Partners, LLC, HFF placed the three-year, floating-rate construction loan with Bank of the Ozarks.  

Due for completion in September 2015, The Glen at University Park will be located at the northwest corner of University Parkway and West Northpark Boulevard directly across from the main entrance of the University. 

The fully-furnished units will include five-bedroom/five-bath and four-bedroom/four-bath floor plans in an upscale townhome-style design. 

Charles Halladay
Community amenities will include a 7,000-square-foot recreational building that houses a state-of-the-art fitness center, community lounge, media/gaming areas, business center and study rooms, in addition to outdoor amenities such as a resort-style swimming pool, outdoor kitchen and barbecue area, and open green space.

 The Glen at University Park is the final phase of the 132-acre University Park master planned community that entered development in 2003 and includes a mixture of residential and student housing, public park space and retail. 

The HFF debt placement team was led by directors Adam Herrin and Charles Halladay.

According to HFF, the general contractor on the project is Bowlus Pacific, an experienced residential builder. 

Both the developer and contractor have received excellent assistance from San Bernardino Mayor Carey Davis, City Manager Allen Parker, Community Development Director Mark Persico and the entire city staff. 

California State University President Tomas Morales and his administrative staff have given salient direction to the design and operations of the much needed student housing project and accompanying student-oriented shopping center.
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 |

HFF closes sale of and arranges financing for 2-property 570-unit multi-housing portfolio in Colorado

Jordan Robbins

DENVER, CO – HFF announced it has closed the sale of and arranged financing for two multi-housing communities, Wildwood and Wyndham Apartment Homes, totaling 570 units in Longmont, Colorado.

                HFF marketed the property on behalf of the seller, an institutional client advised by CenterSquare Investment Management, a BNY Mellon Company. 

Advenir purchased the asset free and clear of existing debt.  HFF also worked on behalf of Advenir to procure 80 percent loan-to-value, fixed-rate acquisition financing in two separate transactions through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.

 Wildwood and Wyndham were both fixed for 10 years with five years of interest only at 3.86 percent and 3.84 percent respectively.

Sean Deasy
 The securitized loans will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program. 

                Wildwood Apartment Homes is located at 3226 Lake Park Way just north of McIntosh Lake in Longmont.  Completed in 1988 and partially renovated in 2010, the garden-style property has 15 three-story buildings that are 95 percent leased. 

The 210-unit asset offers one- and two-bedroom floor plans averaging 859 square feet each.  Community amenities include a swimming pool, spa and clubhouse.

                Wyndham Apartment Homes is located at 2540 Sunset Drive, approximately 1.3 miles east of Wildwood Apartment Homes.

  Completed in 1990 and partially renovated in 2010, the property has 18 three-story, garden-style buildings comprised of 360 one- and two-bedroom units averaging 779 square feet each. 

Jeffrey Haag
Community amenities include a swimming pool, spa, fitness center, clubhouse and carports.  The property is 95 percent leased.

                The HFF investment sales team representing the seller was led by director Jordan Robbins along with co-head of HFF’s national multi-housing investment sales platform, Sean Deasy, associate director Jeff Haag and real estate analyst Jared Buffington.

                HFF’s debt placement team was led by senior managing director Eric Tupler, director Josh Simon and real estate analyst Leon McBroom. 

                “Longmont is one of the strongest rental markets in all of Colorado and CenterSquare was not only able to capitalize on significant market rent growth, but also added tremendous value by partially upgrading each of the properties. 

“Advenir was the perfect buyer and will continue to enhance both properties appeal through further upgrades, which is exactly what is needed within this tight rental market,” commented Robbins.

Eric Tupler
                CenterSquare Investment Management Holdings, Inc. was founded in 1987 to provide real estate investment management services to institutional investors.

 In 2006, the company was acquired by the Bank of New York and is a wholly owned subsidiary of BNY Mellon.  

CenterSquare has been an active investor in and manager of public, private, global, and U.S.-only real estate investment strategies for more than 25 years and has invested and managed more than $6.8 billion of institutional-quality commercial real estate properties (primarily apartments, office, retail, and industrial) located in more than 30 states across the U.S.

Founded in 1996, Advenir, Inc. is a Real Estate Investment Company headquartered in Aventura, Florida (Miami-Dade).  

Advenir acquires and operates income producing assets throughout the United States, on behalf of high-net-worth and institutional investors. 

Josh Simon
Since inception, Advenir has owned and operated 16,000 multifamily units valued at more than $1.8 billion.  Advenir’s current portfolio consists of 8,406 apartment units valued at more than $800 million. 

In addition to Advenir, Inc., Advenir has a Property Management Company with 275 employees and regional offices in Florida, Texas, and Colorado; and a Construction Management Company focused on multifamily development and rehabilitation.

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 |

HFF arranges financing for multi-housing community in Houston’s Energy Corridor

Cortney Cole
HOUSTON, TX – HFF announced it has arranged financing for Seventeen15 Enclave, a 206-unit, Class A multi-housing community in Houston’s Energy Corridor.

HFF worked exclusively on behalf of the borrower, Allen Harrison Company, to secure the 10-year, fixed-rate loan with five years of interest-only payments through MC Five Mile Commercial Mortgage Finance.

Seventeen15 Enclave is located at 1715 Enclave Parkway near Eldridge Parkway and Briar Forest Drive in West Houston.  

The community is near major employment centers, including the Energy Corridor, Park 10 Business Center, Enclave Business Park, retail destinations such as CityCentre and Memorial City Mall, and more than 50 miles of hiking, cycling and jogging trails.  

The two-phase property includes an original 86-unit section that has been fully rehabbed along with 120 additional units completed in 2014.  The property is 95 percent leased and offers one- and two-bedroom floor plans ranging between approximately 733 square feet and 1,205 square feet.  Community amenities include a resort-style swimming pool, fitness center, clubhouse, game room and coffee bar.

Chris Rider
The HFF debt placement team representing the borrower was led by director Cortney Cole and senior real estate analyst Chris Rider.

Allen Harrison Company is a privately-held real estate investment and service company specializing in multifamily properties. 

Headquartered in Houston, Texas, Allen Harrison Company focuses on properties located in markets throughout the southern United States.

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 |

HFF closes sale of Mason Village Shopping Center in Katy, TX

Mason Village Shopping Center, 21945 Katy Freeway
 Katy, TX

HOUSTON, TX – HFF announced it has closed the sale of Mason Village Shopping Center, a 97,405-square-foot retail center in the western Houston suburb of Katy, Texas.

               HFF marketed the property on behalf of a private Houston owner.  DNA Partners purchased the asset free and clear of existing debt.

               Mason Village Shopping Center sits on approximately 9.5 acres at 21945 Katy Freeway at the southwest quadrant of Mason Road and Interstate 10, approximately 24 miles west of downtown Houston. 

The 99 Cents Store-anchored center is 94 percent leased to 17 tenants, including Harbor Freight Tools, Jason’s Deli, Freebirds, Huntington Learning Center, Just for Feet and Jiffy Lube.

Ryan West
               The HFF investment sales team representing the seller was led by managing director Ryan West.

               “Mason Village presented an opportunity for somebody to purchase a proven asset and quickly add value,” West said.  “The asset, until now, had been owned by the same family for nearly 30 years.  We were honored to handle the transaction for the seller and DNA was a great buyer.”   

DNA Partners acquires and manages commercial properties in select markets with strong demographics and economic drivers.  Since their inception in 2002, DNA has purchased more than 1.3 million square feet. 

Their criterion includes high growth markets, below market rents or expansion potential, strong sales, significant linear frontage for maximum visibility and reasonable potential for capital appreciation through management and leasing opportunities. 

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 |

HFF closes $13.425 million sale of southern New Hampshire shopping center

James Koury
BOSTON, MA – HFF announced it has closed the sale of Fairbanks Plaza, a 149,680-square-foot retail center in Keene, New Hampshire.

               HFF represented the seller, H.J. Heyman and Sons, L.L.C.  Unison Realty Partners purchased the center for $13.425 million free and clear of existing debt.

               Fairbanks Plaza is situated on 14.98 acres at 420-480 West Street at the intersection with Franklin Pierce Highway (Rt. 9).   Situated approximately 54 miles south west of Concord, Keene is also the heart of retail activity for southwest New Hampshire.

 The center is strategically located adjacent to Antioch University New England and a little more than a mile from Keene State College.  New tenants include a newly constructed Kohl’s and Aldi supermarket, with additional leasing opportunities available.

               The HFF investment sales team representing the seller was led by senior managing director James Koury, director Ben Sayles and senior real estate analyst Brett Paulsrud.

Ben Sayles
               Unison Realty Partners is a leading retail real estate investment firm focused on the acquisition of grocery-anchored shopping centers throughout the Northeast and the Mid-Atlantic markets. 

With an experienced team of retail and shopping center professionals, Unison seeks to leverage its expertise to maximize value and deliver superior risk-adjusted returns to its 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 |

HFF arranges $10.4 million financing for retail center in Tinton Falls, NJ

Jon Mikula
FLORHAM PARK, NJ – HFF announced it has arranged a $10.4 million financing for a 56,304-square-foot, free-standing A&P supermarket and Sonic Drive-in ground lease in Tinton Falls, NJ.

               HFF worked on behalf of The Hampshire Companies to secure the 10-year, fixed-rate loan through Spencer Savings Bank.  Loan proceeds were used to acquire the fee interest and refinance existing debt on the leasehold interest.  HFF originally placed the loan on the leasehold with Spencer Savings Bank in 2011.

The property is located at 994 Shrewsbury Avenue at its intersection with Route 35 in Tinton Falls, a suburban town in eastern Monmouth County, New Jersey.

The HFF team representing the borrower was led by senior managing director Jon Mikula, director Michael Klein and real estate analyst Michael Cerulo.

Michael KLein
“This was a loan that Spencer Savings Bank already had on its books and was eager to keep given the strength of the sponsorship and quality of the real estate,” Klein said.  

“The transaction enabled The Hampshire Companies to extend its existing loan on the property and secure attractive long term acquisition financing on the fee interest.”

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 |