HFF secures refinancing for iconic St. Louis’ Chase Park Plaza Hotel

Chase Park Plaza Hotel, 232 North Kingshighway Boulevard
Central West End, St. Louis, MO

Trey Morsbach

 DALLAS, TX  – HFF announced it has secured a refinancing for Chase Park Plaza Hotel, a AAA-rated Four-Diamond 338-key hotel in the Central West End area of St. Louis.

Working on behalf of the borrower, an affiliate of Behringer Harvard Opportunity REIT I, Inc., HFF placed the three-year, fixed-rate loan through American Real Estate Capital.  Proceeds from the financing will be used to replace existing financing and complete multiple upgrades to the hotel.

Overlooking St. Louis’ Forest Park, the Chase Park Plaza Hotel is located on 4.31 acres in St. Louis’ Central West End neighborhood at 232 N. Kingshighway Boulevard, four miles west of downtown.

 The eleven-story hotel has hosted every U.S. President from the 1920s to the 1990s in addition to kings, queens, rock and opera stars, actors and professional athletes.

 Bob Hope, Frank Sinatra, Dean Martin, Jerry Lewis and more performed at the hotel’s Chase Club. 

Michael Cosby

Built in 1929, the hotel has gone through several upgrades and today contains four restaurants, approximately 50,000 square feet of grand banquet halls and meeting rooms, a five-screen movie theater, outdoor swimming pool, health club, office space, salon and spa and 36,000 square feet of retail shops. 

               The HFF debt placement team representing the borrower was led by senior managing director Trey Morsbach and associate director Michael Cosby.

               Behringer creates, manages and distributes specialized investments through a multi-manager approach that presents unique options for allocating capital, managing risk and diversifying assets. 

Investments sponsored and managed by the Behringer group of companies have invested into more than $11 billion in assets.  For more information, visit behringerinvestments.com.

American Real Estate Capital (AREC) is a commercial lender, operating as the loan origination platform for the insurance subsidiaries of American Financial Group (NYSE: AFG). AFG is a $44 billion holding company whose primary business is insurance and investments.  AREC provides permanent mortgages and more on a national basis.

 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 arranges $165 million construction financing for retail town center in suburban Cincinnati, OH

Liberty Center, 7454 Liberty Way, Liberty Township, Cincinnati, OH

Michael Gigliotti

NEW YORK, NY – HFF announced it has secured a $165 million construction financing for Liberty Center, a 626,791-square-foot,  retail town center development in Liberty Township, a northern Cincinnati, Ohio, suburb. 

               HFF worked on behalf of the joint venture partners, Bucksbaum Retail Properties, LLC and Steiner + Associates, along with financial partner Mount Kellett Capital Management L.P., to secure the loan through a single capital source.

               Liberty Center is situated on 65 acres at 7454 Liberty Way, which fronts both Interstate 75 and State Route 129, one of the most heavily trafficked cross-roads in the area with an average of 175,000 vehicles per day.

 The retail portion of the center financed with the loan is part of a larger mixed-use development that will include 75,000 square feet of office space, 241 multi-housing units and a 130-room AC Marriott hotel.  Dillard’s is also building a 200,000-square-foot department store to anchor the town center. 

Daniel Kaufman

 The project has secured an impressive roster of high quality retailers, including Dick’s Sporting Goods, Cobb’s CineBistro, Kona Grill, Cheesecake Factory and Brio Tuscan Grill. 

The HFF team was led by managing director Michael Gigliotti and director Daniel Kaufman.

“This project represents possibly the most significant ground-up retail development of the current real estate cycle, anywhere in the United States,” Kaufman said. 

“The sponsorship team came together to realize an incredible vision, combining the development and retail expertise of Steiner and Bucksbaum, with the capital markets strength of Mount Kellett.  All signs point to a very successful project, and one that will be very important for Cincinnati.”

“The lender was able to provide a comprehensive construction financing solution for the development project,” Gigliotti added.

Yaromir Steiner

 “The sponsors recognized this particular lender’s ability to navigate through complex structuring issues, including a public financing component, several different retail buildings and parking structures, and the office, apartment, and hotel components, all of which are integrated but being developed separately.

"  HFF is excited to have been involved with a project which required a tremendous effort by all parties.”

Based in Chicago, Bucksbaum Retail Properties is a fully integrated real estate developer of mixed-use projects with a primary focus on retail.

  Understanding the relationship between a high-quality of life and the built environment, BRP is incorporating office, residential and hospitality uses into its projects to create a sense of place for consumers, residents and businesses.

Founded in 1993 by Yaromir Steiner, Steiner + Associates has built a track record of development excellence that clearly establishes the firm as one of the industry’s most respected developers.  Operating out of the firm’s corporate offices at Easton Town Center in Columbus, Ohio, Steiner’s award-winning development team is focused on creating profitable retail and mixed-use environments and committed to a model that builds long-term value.  Visit www.steiner.com for more information.

Mount Kellett is a multi-strategy private investment firm focused on global value, special situations and opportunistic investing.  The firm has approximately 115 employees with offices in New York, Dallas, Hong Kong, London, and Mumbai.  The firm currently has in excess of $7 billion in assets under management.

 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

$500 million refinancing of International Place in Boston, MA secured by HFF

International Place, Financial District, Boston, MA

BOSTON, MA – HFF announced it has secured a $500 million refinancing for International Place, a 1.8 million -square-foot, Class A trophy office complex in Boston’s Financial District.

Riaz A. Cassum

               Working on behalf of a joint venture between The Chiofaro Company and an institutional partner, HFF placed the fixed-rate loan with New York Life Real Estate Investors and Northwestern Mutual. 

                International Place was completed in 1992, and since then has defined the Boston skyline with its two signature interconnected office towers in the heart of the Financial District. 

The property offers 360-degree unobstructed views and is the flagship of Boston’s downtown waterfront and the gateway to its historic Financial District and the emergent Seaport District.

 With the Rose Kennedy Greenway at their doorstep, tenants enjoy easy access to South Station, Interstates 93 and 90, and Logan Airport via the Ted Williams and Callahan/Sumner Tunnels.  Major tenants at the property include Eaton Vance, Choate Hall & Stewart, Proskauer Rose and PayPal. 

The retail portion of the complex houses tenants such as the Palm Restaurant, Starbucks, Au Bon Pain, Santander Bank and Republic Fitness (coming soon). 

              The HFF debt placement team representing the borrower was led by senior managing director Riaz Cassum and real estate analyst Patrick McAneny.   

 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

www.internationalplace.com.

HFF closes $80 million sale of iconic Downtown Miami, FL development site

Rebecca Sarelson

MIAMI, FL – HFF announced it has closed the $80 million sale of a two-acre development site located at 300-330 Biscayne Boulevard, one of the last remaining prime development sites in Miami’s urban core.

                HFF represented the seller, a trust established for the benefit of CDR Creances S.A.S.  Property Markets Group purchased the asset for $80 million.

The site, also known as The Empire World Towers Site, totals approximately 2.04 acres and is approved for the development of two 93-story towers comprising 1,557 residential units, which would make it the tallest structure south of Manhattan on the East Coast of the United States.

 Additionally, the finished mixed-use towers are approved for 24,741 square feet of retail space and 3,317 square feet of office space. 

Jaret Turkell

  Located directly across from Bayfront Park, the development site has permanently-preserved bay and ocean views and will offer a true urban lifestyle being walking distance from American Airlines Arena, Miami Dade College, Bayside Marketplace and the to-be-built 765,000-square-foot Miami World Center Mall.

The HFF investment sales team representing the seller consisted of managing director Jaret Turkell, senior managing director Hermen Rodriguez, executive managing director Manuel de Zárraga and associate director Scott Wadler. 

Marcos Daniel Jiménez, Esq. and Gregg Fierman, Esq. of McDermott, Will & Emery represented CDR in the sale and related ligation.

 Property Markets Group was represented in the transaction by Luis Flores, Esq. and Rebecca Sarelson, Esq., of Arnstein & Lehr LLP (Miami).  

Scott Wadler

“This transaction is highly significant in that it will ultimately reshape the Miami skyline,” Turkell said.  “The zoning allows a highly intense development with virtually limitless possibilities.”

Established in 1991 and headed by Kevin Maloney, Property Markets Group (PMG) is a New York City-based real estate acquisition and development firm with real estate assets spread throughout the United States and abroad.

 PMG has successfully transformed underutilized assets into highly profitable operating properties for more than 20 years.  

PMG has been responsible for more than 150 real estate transactions, including more than 80 residential buildings in Manhattan during the last two decades. 

One of the leading converters of New York City rental apartments, PMG has distinguished itself over the last five years through its development of new construction condominium developments, both in New York City as well as Florida, South Carolina, Illinois, the Caribbean and elsewhere.

 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 $23 million transaction for new Southern California Class A industrial development

Catawba Distribution Center, Fontana, CA

IRVINE, CA – HFF announced it has closed on a $23 million transaction for the development of Catawba Distribution Center, a 310,550-square-foot, future Class A industrial distribution center located east of Los Angeles, California, in Fontana within the Inland Empire West submarket. 

                HFF exclusively marketed the investment for Xebec Realty Partners and awarded the project to a large, discretionary real estate fund upon negotiating a successful forward structure between the two parties.

Ryan Martin

               Catawba Distribution Center is a fully-entitled, future industrial development located on 13.78 acres at the northwest corner of Santa Anna Avenue and Catawba Avenue in Fontana, approximately 12 miles from LA/Ontario International Airport with easy access to Interstate 10.

 The institutional quality industrial warehouse will include 32’ clear heights, a 180’ secured concrete truck court and 35 dock-high positions with 59 trailer positions.  Catawba Distribution Center is scheduled for completion in August 2015.  

                The HFF team was led by senior managing director Anthony J. Brent and managing director Ryan Martin.

“The transaction was structured as a forward commitment and is representative of the demand for quality core distribution product,” Brent said. 

“With vacancies declining and rents increasing within the Inland Empire markets, especially within the 300,000-square-foot category, the development attracted a variety of large funds.”

Learn more about Xebec at www.XebecRealty.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

HFF arranges $17.15 million in financing for suburban Indianapolis, IN office complex

Dave Keller

INDIANAPOLIS, IN – HFF announced it has arranged $17.15 million in post-acquisition financing for Penn Mark I and II, a two-building office complex totaling 240,081 square feet in the northern Indianapolis suburb of Carmel, Indiana.

                HFF worked exclusively on behalf of the borrower, True North Management Group, to secure the loan through TCF Bank. 

The loan will be used to supplement cash invested to-date for acquisition and capital costs while subsequent fundings will be used for future tenant improvements, leasing commissions and capital projects.

                Penn Mark I and II are located at 11595 and 11555 N Meridian Street at the southeast corner of 116th and Meridian Streets (US 31) in the heart of the Carmel/North Meridian office submarket. 

Ken Martin

Penn Mark I is an eight-story building that is 73.5 percent leased to tenants including Campbell Kyle Proffitt, Cigna, Clarian Health, NY Life Company and Orbis Education Services.

 Penn Mark II has five stories of office space totaling 94,899 square feet.  Tenants at the 72.4 percent leased Penn Mark II include Brown & Brown, Hollingsworth and P/R Mortgage.

                The HFF debt placement team representing the borrower was led by senior managing director Dave Keller and director Ken Martin.

                “Penn Mark I and II are located along one of the most dynamic real estate corridors in the Indianapolis MSA,” said Martin. 

“Historically, this area had strictly been an office corridor but in the last few years it has undergone a dramatic conversion to a mixed-use corridor with the opening of a new hospital and development of numerous multi-housing, retail and hotel properties.”

Penn Mark, Carmel, IN

                True North Management Group, founded in 2004, is a privately held real estate investment management firm headquartered in White Plains, New York. 

 Since inception, the firm has successfully completed more than 50 distinct debt and equity investments with more than $700 million in transaction value involving office, retail, hospitality, multifamily and other property types throughout the United States. 

 True North currently has ownership interests in approximately 4.0 million square feet of office properties.

For more information about TCF, please visit www.tcfbank.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

HFF closes $12.452 million sale of two-building distribution center near Phoenix, AZ

Ryan Martin

IRVINE, CA – HFF announced it has closed the sale of Normal Junction Distribution Center, a two-building, 140,314-square-foot distribution center in Tempe, Arizona, which is in the eastern Phoenix metropolitan area.

HFF marketed the property on behalf of the seller, American Realty Advisors.  Industrial Property Trust purchased the center for $12.452 million free and clear of existing debt.

Normal Junction Distribution Center is a light industrial center comprised of 1715 South Holbrook Lane and 1895 South Los Feliz Drive in Tempe. 

The assets are located just off the Loop 101, which is the main feeder into Scottsdale, less than two miles from State Route 60, a little more than four miles to Interstate 10 and less than nine miles away from Phoenix Sky Harbor International Airport.

Anthony J. Brent

  Built in 1987, Normal Junction Distribution Center has ceiling heights of 25 feet at Holbrook and 21 feet at Los Feliz.  At the time of closing, the center was 79 percent leased to four tenants, including Textron, Hot Shot Services, Propak and DM Nutraceuticals.

The HFF investment sales team was led by Ryan Martin along with Anthony J. Brent.   

“Normal Junction was a unique asset, offering stable long-term cash flow from a diverse portfolio of tenants, while providing the potential for significant upside through lease up,” Martin said.  “It will be a great addition to Industrial Property Trust’s rapidly growing portfolio.”

With over $6 billion in assets under management, American Realty Advisors is an investment manager to institutional investors, and has provided real estate investment management services for over 26 years utilizing core and value-added commingled funds and separate accounts.   

 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 $112 million dollar sale of and secures $61 million financing for Broward Financial Center in Fort Lauderdale, FL

Hermen Rodriguez

MIAMI, FL – HFF announced it has closed the sale of and secured acquisition financing for Broward Financial Center, a 324,429-square-foot, Class A office property in Fort Lauderdale, Florida.

                HFF marketed the property for the seller, DRA Advisors, LLC.  AGS Property Corporation purchased the property for $112 million free and clear of existing debt. 

Additionally, HFF secured the $61 million, 10-year, fixed-rate loan for AGS Property Corporation through Morgan Stanley Mortgage Capital, Inc.  HFF is servicing the securitized loan.

Broward Financial Center is located at 500 East Broward Boulevard at the intersection of Broward and South Federal Highway in Fort Lauderdale’s Central Business District. 

Manuel De Zarraga

The 24-story building has views of the Atlantic Ocean from its northeastern and eastern sides in addition to the upper floors of the southern side. 

The property, which was completed in 1986 and renovated in 2007, contains on-site casual and fine dining restaurants, a conference center and full-scale gym. 

Broward Financial Center is 90 percent leased to a variety of tenants, including Sun-Sentinel Company; Fox Sports Net Florida, Inc.; Premiere Beverage Company, LLC; Northwestern Mutual; Morton’s Restaurant Group and Charles Schwab & Co. Inc.

The HFF investment sales team representing the seller included senior managing director Hermen Rodriguez, executive managing director Manuel De Zárraga, director Ike Ojala and associate director Jorge Portela. 

Financing was arranged by the HFF debt placement team led by director Chris Drew and senior managing director Paul Stasaitis.

  

 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 Tampa, FL area grocery-anchored retail center

Kimberly Flores

MIAMI, FL – HFF announced it has closed the sale of MiraBay Village, a 93,985-square-foot, Winn-Dixie-anchored retail center and adjacent 9.79-acre development site in Apollo Beach, Florida.

                HFF marketed the properties on behalf of the seller, Northwood Investors.  Alidade Capital, LLC purchased the asset free and clear of debt.       

MiraBay Village is located at 252 Harbor Village Lane right off of N.U.S. Highway 41 in the coastal town of Apollo Beach, a suburb 18 miles south of downtown Tampa in Hillsborough County. 

The property is next to MiraBay, a 750-acre waterfront community, and Waterset, the largest residential master planned community under development in the U.S.

Luis Castillo

 In addition to the 13.52-acre center, the property contains 4.81 acres of undeveloped outparcels and 9.79 acres zoned for residential development. 

Completed in 2008, the center is leased to a variety of national and local tenants, including Winn-Dixie, H&R Block, Keller Williams Realty, Apollo Beach Chamber of Commerce, Kimi’s Ice Cream and Asian Buffet. 

                The HFF investment sales team representing the seller was led by managing director Luis Castillo, director Matt Mitchell, senior managing director Danny Finkle and director analyst Kimberly Flores.

                “The opportunity to acquire a recently-built shopping center in a fast-growing Florida market was appealing to investors,” Castillo said.  “MiraBay Village is a dominant center and very well-positioned in its market.

HFF’s investment sales team secured more than $2.8 billion in sales of retail assets nationally through the end of the third quarter of 2014.  In Florida, HFF closed more than $1.15 billion in retail transactions across all capital markets platforms during the same period.

 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 secures $42 million financing for 620 F Street in Washington, DC

Sue Carras

WASHINGTON, DC – HFF announced it has secured $42 million in financing for 620 F Street, an 11-story, 119,469-square-foot, trophy office building in Washington, D.C.

Working on behalf of the borrower, BAC F Street LLC, HFF placed a 25-year, fixed-rate loan with Prudential Mortgage Capital Company.

The building is located on F Street NW directly across the street from The Verizon Center in the heart of Washington, D.C.’s prestigious East End submarket. 

Completed in 2006, the building is 100 percent leased to a tenant roster that includes the International Union of Bricklayers and Allied Craftworkers and AARP. 

The HFF debt placement team was led by Sue Carras, Walter Coker, Brian Crivella and Nicole Snarski.  R.J. Davis of Pillsbury Winthrop Shaw Pittman LLP provided legal counsel for the owner.

 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 Signs Liberty Tax Service In New Lease Transaction

Mil Lake Plaza, Lake Worth Road and Military Trail
Greenacres, FL

Greenacres, FL  — Bryan S. Cohen, William Soled, and JasonGuralnick of Cohen Commercial Realty, Inc., announced the signing of Liberty Tax Service, to lease a 980-square-foot space at Mil Lake Plaza located on the NW corner of Lake Worth Road and Military Trail. 

Cohen Commercial Realty, Inc., represents the Landlord in this transaction.

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

Jamie Crocker

jamiecrocker@cohencommercial.com

561.471.0212 phone

561.471.5905 fax

Cousins Properties Declares Fourth Quarter Common Stock Dividends

ATLANTA, GA -- Cousins Properties Incorporated (NYSE: CUZ) announced its Board of Directors has declared a regular quarterly cash dividend of $0.075 per common share, payable December 19, 2014, to common stockholders of record on December 5, 2014. The $0.075 per share quarterly dividend equates to $0.30 on an annualized basis.

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

Cousins Properties Incorporated

Marli Quesinberry, 404-407-1898

Director of Investor Relations and Corporate Communications

marliquesinberry@cousinsproperties.com

www.cousinsproperties.com

Berger Commercial Realty Brokers Close $300,000 Sale of Automotive Property in West Park, FL

Joseph Byrnes

FORT LAUDERDALE, FL - Regional, full service commercial real estate firm Berger Commercial Realty announced a new deal from brokers Joseph Byrnes and Jonathan Thiel.

 Byrnes and Thiel represented Logan West Park, LLC in the sale of a half-acre automotive property, located at 2301 SW 57th Terrace in West Park, to Jinsa Auto Finance, LLC for $300,000.

 With rare zoning for automotive body repair work and paint jobs, the property features a 3,147-square-foot industrial building with an office component and four overhead warehouse doors.

The building is currently being used as a body shop and automotive center. The property also features street parking and is completely fenced-in.

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

Marielle Sologuren

Pierson Grant Public Relations

msologuren@piersongrant.com

(954) 776-1999, ext. 226