NAI Realvest Negotiates Two Sales of Vacant Commercial Land in Lake Mary, FL and Orlando, FL

 

Mary Frances West

ORLANDO, FL. – NAI Realvest recently represented sellers and closed on two sales of vacant commercial land – one parcel in Lake Mary and one in Orlando – for more than $700,000.

Michael Heidrich, principal at NAI Realvest, represented NOS Investments, LLC of Orange City in negotiating the sale of a 1.22-acre office lot for $500,000.   The property, located at 920 Williston Park Point in Lake Mary, was purchased by C.W. Harkins Corp. of Lake Mary, represented by Mark Harkins.

Mary Frances West, CCIM, NAI Realvest’s senior broker associate, represented Tampa-based Sellers Lori Lacy Griffith Trust and Jewel K. Ussery Trust in the sale of 1.47 +/- acres of vacant land at 3650 Old Winter Garden Rd. in Orlando.   Buyer CL Green Inc. of Windermere paid $205,000 for the property and was represented in the transaction by Steve MacGeorge of Commercial Equity Partners.   

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

Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

Chatham Lodging Trust Increases Capacity with New Fully Unsecured Credit Facility, Reduces Interest Costs and Pushes Maturity to 2020

PALM BEACH, FL,  Nov. 30, 2015—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale extended-stay hotels and premium branded, select-service hotels, today announced that it successfully closed on a new, expanded $250 million senior unsecured revolving credit facility.

The new unsecured revolving credit facility will mature in November 2020, which includes the option to extend the maturity by an additional year and replaces a $175 million secured credit facility that was scheduled to mature in 2016.

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

Patrick Daly

Account Executive

 Daly Gray, Inc.

620 Herndon Parkway

Suite 115

Herndon, VA 20170

 (703) 435-6293 (office)

patrick@dalygray.com

Ramada Fuels Australian Growth with Addition of Newest Resort on Queensland’s Sunshine Coast

Barry Robinson

GOLDEN BEACH, AUSTRALIA (Nov. 30, 2015) – Further building upon its presence in Australia, Wyndham Hotel Group today announced the rebranding of the WorldMark Golden Beach Resort—one of Queensland’s most popular vacation ownership resorts— to the new Ramada® Resort Golden Beach.

Located along Queensland’s Sunshine Coast, the 130-room resort recently underwent an approximately $1.5 million renovation and will now operate as a mixed-use property, catering both to traditional hotel guests as well vacation owners through WorldMark South Pacific Club by Wyndham. It’s the 14th property in Australia to open under the Ramada flag.

“Ramada is a globally recognized brand known not just for the tremendous quality of its offerings, but the unique, global destinations made available through its ever growing portfolio,” said Barry Robinson, president and managing director, Wyndham Hotel Group South East Asia and Pacific Rim.

 “Through this rebranding and renovation, we’re opening one of the area’s best resorts to a whole new set of global travelers and sharing all that Golden Beach and the Ramada brand have to offer with them.”

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

Hayley Sultanie

Public Relations

T: +61 (0) 7 5512 8491

hayley.sultanie@wyn.com

www.wyndhamAP.com

$6.885 million financing for 209-unit multi-housing community in Colorado Springs, CO secured by HFF

Peak 4420 Apartments, 4420 East Pikes Peak Avenue, Colorado Springs, CO

Brock Yaffe

DENVER, CO – Nov, 30, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $6.885 million in financing for Peak 4420, a 209-unit, garden-style multi-housing community in Colorado Springs, Colorado.

Working on behalf of POV Investment Group, LLC, an affiliate of Radford Investment Properties, HFF placed the seven-year loan with Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. 

The securitized, floating-rate loan has two years of interest only with flexible prepayment and will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.

Peak 4420 is located at 4420 East Pikes Peak Avenue to the east of downtown Colorado Springs and near major thoroughfares, including State Highway 24, Route 21 and Interstate 25, providing convenient access to the area’s core employment centers. 

The seven-building property has studio, one- and two-bedroom units ranging from 520 to 750 square feet.  Community amenities include a swimming pool, dog park and playground.

The HFF debt placement team representing the borrower was led by associate director Brock Yaffe.

"HFF was exceptional to work with on this refinance, which allowed our investors to recoup the vast majority of their initial investment while providing additional capital for continued improvements to the property.  HFF's team delivered and exceeded on our agreed terms and I look forward to working with them on future deals," said Michael Foerster, principal for Radford Investment 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, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF closes sale of 411-unit apartment community in San Antonio, TX

Matt Pohl

AUSTIN, TX – Nov. 30, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of The Place at Overlook, a 411-unit apartment community in San Antonio, Texas.

HFF marketed the asset exclusively on behalf of MC Companies.  My Residential, a private company located in Denver, Colorado, purchased the property for an undisclosed amount on a loan assumption basis.

The Place at Overlook is situated on 16.04 acres at 4934 Woodstone Drive near the intersection of Interstate 10 and Huebner Road in northwest San Antonio. 

In addition, the asset is proximate to Loops 410 and 1604 and major employers, including USAA and the South Texas Medical Center.

The 31-building property has 294,000 rentable square feet and offers a mix of one- and two-bedroom units.  Community amenities include a swimming pool, full-size sport court, sand volleyball court, fitness center and clubhouse.

The HFF investment sales team representing the seller was led by director Matt Pohl and senior managing director Sean Sorrell.

“The Place at Overlook is a well-located property in northwest San Antonio that presented the marketplace with an interesting value-add opportunity,” says Pohl.  “We were pleased to find a qualified buyer that was capable of navigating the loan assumption process and to assist My Residential with their first acquisition in the San Antonio market.”

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

Olivia Hennessey

Public Relations Coordinator

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

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

Anantara Launches First Luxury Residences at Popular Layan, Phuket Resort in Thailand

The Residences by Anantara at Phuket Resort, Thailand

PHUKET, THAILAND -- Luxurious sea view residences offering the ultimate in opulent indulgence complete with on-call butler services have been unveiled at Anantara Layan Phuket Resort, the island’s idyllic five-star resort hideaway.

The Residences by Anantara offers 15 exclusive pool residences overlooking the secluded Anantara Layan Phuket Resort, a tropical sanctuary in a tranquil beach setting on Phuket’s stunning west coast.

 For more information on Anantara Hotels, Resorts & Spas, please visit www.anantara.com.

Follow us on Facebook: www.facebook.com/anantara;

 Twitter and Instagram: @anantara_hotels

Anantara Dining Room

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

Hwee Peng Yeo

Vice President, Asia Markets

Glodow Nead Communications

San Francisco • New York • Singapore • Shanghai

Level 21, Centennial Tower, 3 Temasek Avenue • Singapore 039190

Level 15, One Corporate Avenue, 222 Hubin Road, Shanghai China, 200021

1700 Montgomery Street, Suite 203 • San Francisco, CA • 94111

Asia: 65.9768.6087  US:415.394.6500 • E: hweepeng@glodownead.com

www.GlodowNead.com

杨慧萍

副总裁

博德纳公关咨询公司

Centennial Tower 21层，Temasek Avenue 3号， 新加坡邮区039190

上海湖滨路222号企业天地一号15层，中国邮编20021

E: hweepeng@glodownead.com

 www.GlodowNead.com

www.gha.com

Flanigan's Purchases Oakland Park Property in Fort Lauderdale, FL for Nearly $1 Million

  

Flanigan Building, 1290 East Commercial Boulevard, Oakland Park, FL

St. George Guardabassi

FORT LAUDERDALE, FL -- Berger Commercial Realty brokers St. George Guardabassi and Keith Graves recently represented Kegy & Associates, LLC in the $922,500 sale of an Oakland Park property, located at 1290 E. Commercial Blvd., to Flanigan's Enterprises, Inc.

The building formerly housed Ike's Carter Pool Company, a local business serving Broward and Palm Beach counties since 1949. Ike's Carter has relocated to a new facility in greater Fort Lauderdale.

Listed on the American Stock Exchange (NYSE MKT: BDL) and in business for more than 50 years, Flanigan's Enterprises, Inc. owns and operates 23 Flanigan's Seafood Bar and Grill restaurants and Big Daddy's retail liquor stores throughout South Florida.

The company intends to use the new facility as storage for its catering business. The property is located less than a mile away from Flanigan's headquarters, located at 5059 N.E. 18th Ave. in Fort Lauderdale, and just a few blocks from one of its restaurants, located at 1479 E. Commercial Blvd. in Oakland Park.

Keith Graves

"The building that Flanigan's purchased has the capacity to function as retail space, an office showroom, a truck terminal / transit point, or as any other overall hub for business on Commercial Boulevard, which sees between 55,000 and 65,000 cars per day," Graves said.

Guardabassi added, "With its flexible space, central location, and proximity to other Flanigan's properties, this site was the perfect fit for the company's growing catering division."

The one-story building consists of 6,451 square-feet of multi-purpose space and offers ample parking, dock-height loading, and convenient access to I-95 and Florida's Turnpike.

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

954-776-1999

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com

Big Business at Bijou Bay Harbor Sales Center Launch Party at Bay Harbor Islands, FL

From left: Ivan Ramirez, Andres Arias Gutierrez, Robert Morales and Eduardo Pruna

 BAY HARBOR ISLANDS, FL – Simply seeing the sales center for Bijou Bay Harbor wasn’t enough for one guest at the luxury condominium’s spectacular grand opening party. One buyer snatched up one of the five exclusive penthouses at the luxury waterfront condominium from respected mega-developer Juan Carlos Gonzalez.

The deal only added to the night’s festivities, as 300 VIPs, dignitaries and local luxury real estate agents witnessed the ribbon cutting and grand opening of the development’s 2,000-square-foot on-site sales center on the shores of Biscayne Bay.

“This spectacular event was befitting Bijou Bay Harbor and the island community it will call home,” said Robert Morales, the vice president of operations for Ability by Acierto. The U.S. development company created by Gonzalez has partnered with Conexo Inmobiliario, founded by Andres Arias Gutierrez, who will serve as the president of new developments for Ability by Acierto.

Ribbon cutting ceremony to celebrate opening of Bijou Bay Harbor sales center

“The transformation of Bay Harbor Islands has been nothing short of phenomenal, and we know Bijou Bay Harbor will be an integral element in the city’s continued growth,” said Morales.

The launch party featured choreographed paddle boarders riding LED-lit paddle boards, with Bob Marley and reggae tunes played by local DJ/violinist sensation Timothee Lovelock. A luxury car exhibition was staged by MPH Club & Ocean Cadillac, and the entire celebration was captured by an aerial drone and presented by media sponsor South Florida Luxury Guide.

DJ/violinist sensation Timothee Lovelock

The 2,000-square-foot sales center was designed by Adriana Hoyos. Even before the event, pre-sales had been drawing keen interest from young professionals and buyers from throughout the Americas, the Caribbean, the U.S. and Europe. With sales now fully underway, the groundbreaking is expected in early 2016.

Once completed, the seven-story development will feature architecture by Luis Revuelta and Charles H. Benson with 41 private residences, ranging from 900 to just over 2,000 square feet. Prices start in the $500,000s and rise to $1.9 million for the four remaining penthouses.

 Eduardo Pruna, Bijou Bay Harbor sales director, and Crescendo Real Estate will handle sales for the project.

For sales information, email Eduardo Pruna at Eduardo@bijoubayharbor.com

 or call (305) 864-2220. 

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

BoardroomPR

Ashley Fierman

(954) 370-8999/ (954) 330-1554

afierman@boardroompr.com

www.bijoubayharbor.com

Shake Shack to Open First Kentucky Location at The Summit at Fritz Farm in Lexington, KY

Jeffrey A. Bayer

BIRMINGHAM, AL — Bayer Properties announced Shake Shack®—the critically acclaimed, modern-day 'roadside' burger spot that began in 2001 as a hot dog cart in New York City—will open its first-ever Kentucky location at The Summit at Fritz Farm in Lexington.

The Summit at Fritz Farm, a modern, experiential, walkable development, will combine national retail brands, local chef-driven concepts, the first mixed-use food-hall concept in the region, 

Class A office space, condo-quality apartments and a fashion inspired boutique hotel. Infused with the local essence of Lexington, the project will open in March 2017.

“Having Shake Shack come to Lexington is a testament to how special the city is, and how special The Summit at Fritz Farm is going to be,” said Jeffrey Bayer, President and CEO of Bayer Properties. “Looking at how well-received Shake Shack has been at its other locations, we think that those who live, work and visit The Summit at Fritz Farm are going to love the experience the restaurant will bring to this community.”

The one-level, 3,000 square-foot Shake Shack will anchor “The Green”, a communal space area designed by Kentucky native and award-winning garden designer Jon Carloftis that will be the heart and soul of the property.

 Phase I will also include 306 condo-quality apartments, approximately 125-room fashion inspired boutique hotel as well as 48,000 square feet of Class A office space. 

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

Hadley Creekmuir,

The Wilbert Group

Email: hcreekmuir@thewilbertgroup.com

Tel: 404-343-4080

 www.bayerproperties.com

Will Phoenix law firms start to move into creative space?

Jason Moore

Phoenix, AZ -- According to JLL’s 2015 Law Firm Perspective, law firms across the U.S. are warming up to the idea of occupying creative office space. They are even locating outside of traditional CBD’s as rents continue to rise and the availability of quality Class A office space diminishes.

Are these national trends true to the Phoenix market? Somewhat.

In Phoenix, law firms typically locate within the Camelback Corridor, Downtown and Midtown submarkets. And while we haven’t seen any major users jump from traditional space to creative space, we are seeing firms use space more efficiently and show interest in different submarkets.

“As supply is beginning to decrease in some of the traditional markets, expanding law firms are looking at other suburban areas such as North Scottsdale and even Tempe and Chandler where the bulk of new construction is occurring,” said Jason Moore, Vice President of the JLL Phoenix office. 

“These are also the same submarkets where we are seeing creative users locate so we may start to see law firms show interest in creative-type footprints as they move from traditional file rooms and libraries to paperless, online-type space.” 

Flexibility has become a critical element in regards any law firm space, including physical layout and lease terms. The rising rents are challenging firms to structure leases that can maintain flexibility and still take favorable advantage in the market. And above all, quality of space is remains a key focus for talent recruitment and retention efforts.

To learn more about Phoenix law firm trends from JLL’s 2015 Law Firm Perspective or for more information about JLL’s law firm tenant representation services, please contact:

Jason Moore

Vice President

+1 602 282 6280

Email Jason

HFF closes $6.7 million sale of and arranges acquisition financing for an office property in Charlotte’s University area

  

One University Place, Charlotte, NC

 

Ryan Clutter

CHARLOTTE, NC  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged financing for One University Place, a four-story, 80,891-square-foot office property within the University Place mixed-use development in Charlotte, North Carolina. 

HFF marketed the property on behalf of the seller, Financial Enterprises III.  Origin Capital Partners purchased the asset for $6.725 million free and clear of debt.  Additionally, HFF assisted the new owner in securing an acquisition loan through First Tennessee Bank. 

One University Place is situated at 8801 JM Keynes Drive within the University Place mixed-use development in northeast Charlotte.  This location, between Interstates 77 and 85, is only 1.5 miles from the Interstate 85 corridor, a notable stretch of the interstate that extends from Richmond to Atlanta.

 In addition, the property is connected to the Shoppes at University Place, which offers a variety of retail, restaurant, medical and lodging amenities including a Hilton hotel, Dick’s Sporting Goods, Office Depot, Sam’s Club, TJ Maxx, Applebee’s, Chick-fil-A and Love Sushi.  The Carolinas Medical Center and the University of North Carolina at Charlotte are also a short distance from the property. 

Travis Anderson

Originally built in 1986, One University Place is 66 percent leased to a mix of health care, technology, consulting and business services tenants.  The largest tenants at the property are: Bayada Home Health Care and University Radio.

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

HFF’s debt placement team representing the borrower was led by senior managing director Travis Anderson and associate director Cory Fowler.

“One University Place represents a compelling investment opportunity in a thriving corner of the University area of Charlotte.  This office submarket is the tightest it has been in many years and in 2017, the light rail line extension will open up in immediate proximity to this building, further connecting the asset to other major business corridors of Charlotte,” said Clutter. 

“We received considerable interest in the asset from the marketplace as investors were drawn to these attractive characteristics of One University Place.”

  

“We are experiencing very strong investor demand for Charlotte office buildings as the city’s economy continues to be exceptionally strong and Charlotte’s office submarkets tighten with less space available.  Rent growth is now occurring in most areas of the city, drawing more and more capital to Charlotte offerings.  We anticipate this trend to continue in 2016 with an active selling environment,” added Clutter.

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

NAI Realvest Negotiates Sale of Medical Office Building off North Orange Avenue near Florida Hospital in Orlando, FL

Tom R. Kelley II

 ORLANDO, FL – NAI Realvest recently negotiated the $575,000 sale of a medical office building located at 621 Wilkinson St. off N. Orange Avenue in the Florida Hospital area. 

Tom R. Kelley, II, CCIM, principal at NAI Realvest and associate Chris Adams negotiated the sale representing the seller, The Jack P. Facundus Revocable Trust. 

The building, with 3,647 useable square feet, was purchased by Physmedi, LLC, a practice specializing in physical medicine and rehabilitation.  Physmedi, who is expanding, was represented by Casablanca Commercial Real Estate.

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

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

Berkadia negotiates $35,775 per unit price in sale of 116-unit Villa Glen Apartments in Bessemer, AL

Joshua Jacobs

Birmingham, AL --- Berkadia, one of the nation’s largest and most active multi-family investment sales companies, recently negotiated the sale of the 116-unit Villa Glen Apartments for $4,150,000, or $35,775 per unit.

Joshua Jacobs, investment sales advisor at Berkadia’s Birmingham office, along with David Oakley, partner in the firm, negotiated the transaction representing the local seller Villa Glen, LLC.

The Adcock Group, based in Hattiesburg, Mississippi, acquired the property, which is located at 900 N. Division St. in Bessemer, 18 miles southwest of Birmingham. 

Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties.

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

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

Bull Realty Brokers $4.9 Million Mixed-Use Site in Duluth, GA

John DeYonker

ATLANTA, GA — Bull Realty brokered the sale of a 24.4 acre parcel of land located at Pleasant Hill Rd. in Duluth, GA. The sale closed on Nov. 17, 2015 for $4.9 million.

John DeYonker, VP Land & Developer Services with Bull Realty, represented the seller, Davenport Capital LLC, and was the only broker involved in the deal. The buyer was Taylor Morrison of Georgia, LLC.

The property will be developed into a mixed-use subdivision with approximately 20,000 square feet of retail space and 135 residential units.  The residential portion will be a mix of single family homes and townhomes.

DeYonker said, “The folks at Taylor Morrison did an excellent job of working with Gwinnett County and the surrounding neighbors to come up with a plan for the development that will be both successful and add value to the area.” 

Bull Realty, Inc. (www.BullRealty.com) is a U.S. commercial real estate brokerage and advisory firm headquartered in Atlanta, licensed in nine states providing acquisition, disposition, leasing and advisory services. The firm also produces and hosts the nationally-syndicated Commercial Real Estate Show (www.CREshow.com).). The popular weekly show is broadcast on 47 radio stations nationwide, iTunes, YouTube and CREshow.com.

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

Melissa Henry

Communications Associate

Bull Realty, Inc.

50 Glenlake Pkwy, Suite 600

Atlanta, GA  30328

404-876-1640 x 110

Edward R. James Companies Receives Two Gold Key Awards from Homebuilders Association of Greater Chicago

Jerry S. James

CHICAGO, IL  (Nov. 24, 2015) – Glenview, Illinois-based homebuilder and developer Edward R. James Companies announced it received two awards at the Homebuilders Association of Greater Chicago’s (HBAGC) Key Awards dinner on November 13.

The firm was awarded a Gold Key Award for Best Overall Community in the category of Community Design and Planning for Hibbard Gardens, a recently completed community in Northfield, as well as a Gold Key Award for Excellence in New Construction for its custom home at 1425 Glenview Road in Glenview.

“We are honored to receive these awards, and we thank the Homebuilders Association of Greater Chicago for this recognition,” said Jerry S. James, president of Edward R. James Companies. “We’ve taken tremendous pride in building in North Shore communities for the past six decades, and this recognition simply furthers our commitment.”

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

Julie Liedtke, jliedtke@taylorjohnson.com, (312) 267-4521

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

HFF closes sale of Tysons Corner office building in Northern Virginia

Harrison Building, 1760 Old Meadow Road, Tysons Corner, VA

 

Jim Meisel

WASHINGTON, DC, Nov. 24, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of the Harrison Building, a five-story, 101,440-square-foot, Class A office building located in Northern Virginia’s Tysons Corner submarket. 

HFF marketed the property on behalf of the seller, TIAA-CREF.  Harrison Metro LLC, an investment affiliate of Cambridge Holdings LLC, a Virginia-based full-service operating company, purchased the asset for an undisclosed amount. 

The Harrison Building is located at 1760 Old Meadow Road in Tysons Corner, which is Virginia’s largest employment center. 

Completed in 1999, the property is now less than a 10 minute walk from the Silver Line’s McLean Metrorail station and has excellent vehicular access to Dolley Madison Boulevard, the Capital Beltway and the future Jones Branch bypass, which will provide ready access to Interstate 495’s express lanes.  

Its location in Tysons Corner is also proximate to abundant retail at Tysons Corner Center and Tysons Galleria.

The HFF investment sales team representing the seller was led by Jim Meisel, Dek Potts, Andrew Weir, Stephen Conley and Matt Nicholson.

 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.cambridgeus.com

Multi Housing Advisors Brokers $13.8 Million Sale of Apartment Community in Macon, GA

  

Forest Pointe Apartments, Macon, GA

 

Robert Stickel

ATLANTA, GA (Nov. 24, 2015) — Multi Housing Advisors (MHA) has arranged the $13.8 million sale of Forest Pointe, a 200-unit apartment community located in Macon, Georgia.

Robert Stickel, who leads MHA’s central to coastal Georgia deal team, represented the seller, QR Capital, in the transaction. LMS Real Estate Investment Management purchased the property.

“Forest Pointe is an exceptionally located asset providing residents convenient access to major job centers and quality retail, while also offering a private residential setting,” Stickel said. 

“With recent upgrades to the exteriors and amenities, Forest Pointe provides the opportunity to focus new capital on interior upgrades, resulting in increases in both rental rates and investment returns.”

Forest Pointe is a cash flowing asset with recent capital improvements, including new exterior paint, new stacked stone grill and fireplace area by the pool, and dark stained cabinets.

The property is located in the premier North Macon submarket with true “country club” demographics and an average household income of over $74,000 within a one-mile radius of Forest Pointe.

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

Deborah Rogers

Multi Housing Advisors

404.645.7275

drogers@usmha.com

American Realty Advisors Sells Office Center in South Florida

Yamato Office Center, Fort Lauderdale, FL

Boca Raton, FL, Nov. 24, 2015 – American Realty Advisors announced the sale of the Yamato Office Center, a 170,930 square-foot office property in the South Florida metro area. 

David Hubbs

According to David Hubbs, Senior Portfolio Manager at American, the disposition has been timed to take advantage of strong investor interest in the region.

“The property’s great location and tenant profile, along with the growing strength of the office market in the region, made this an opportune time to sell the property,” says Hubbs.

Constructed in 1986 and 2000, Yamato Office Center is located less than one mile west of the I- 95/Yamato Road interchange, and less than 30 miles from both Fort Lauderdale and Palm Beach International Airports. 

The property is comprised of two office buildings totaling 170,930 square feet, with a tenant mix that includes Promise Healthcare, MoreDirect, and Homes Media E-Neighborhoods.

The buyer, Adler Kawa (AKREA) is a Florida-based real estate investment firm that was represented by Charles J. Foschini, Vice Chairman, and Christopher A. Apone, First Vice President, in CBRE’s Miami office.  American was represented by Christian Lee, Vice Chairman of CBRE Miami.

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

Lexi Astfalk / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

LAstfalk@browermillercole.com

www.americanreal.com

HFF closes $8.9 million sale of and arranges $5.6 million financing for 45-unit multi-housing community in suburban San Diego, CA

The Ridge on Jackson Apartments, 5639 Jackson Drive, La Mesa, CA

                                                                                                                     (photographer: Charles Jaworski).

  

Hunter Combs

SAN DIEGO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged financing for The Ridge on Jackson, a 45-unit, garden-style multi-housing community in the San Diego suburb of La Mesa, California.

HFF marketed the property exclusively on behalf of Curtis Capital Group.  Stricker Family Partnership purchased the asset for $8.9 million free and clear of existing debt.  Additionally,

HFF worked on behalf of the new owner to place the $5.6 million, seven-year, fixed-rate acquisition loan with Chase Commercial Term Lending (“Chase”).

Located at 5639 Jackson Drive, The Ridge on Jackson is approximately 13 miles east of downtown San Diego and provides convenient access to Interstates 8 and 15 and State Routes 94, 125 and 163. 

Situated on 1.5 acres, the 98-percent-leased property was partially renovated in 2014 and has six buildings housing studio, one- and two-bedroom units averaging 660 square feet each.  

The community is walking distance to Lake Murray and nearby shopping/dining attractions and has amenities including a swimming pool, two sundecks with barbecue grills and covered parking.

Zach Koucos

The HFF investment sales team was led by director Hunter Combs.

HFF’s debt placement team was led by director Zach Koucos.  Client manager Scott Schweer oversaw the transaction for Chase.

“The Ridge on Jackson presented the unique opportunity to continue a proven value-add renovation program and realize significant rent premiums.  There was a very competitive bidding process with a deep buyer pool seeking Southern California value-add opportunities in a low-vacancy market,” said Combs.

  “Strong economic drivers in East San Diego County have created a tremendous demand for housing in La Mesa.”

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

Olivia Hennessey

Public Relations Coordinator

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

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF closes sale of Metropolitan at Lorton Station in Lorton, VA

Metropolitan at Lorton Station Apartments, 9030 Lorton Station Boulevard, Lorton, VA

                                                                                                                                     (Waring Photography).

Walter Coker

WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Metropolitan at Lorton Station, a 251-unit, Class A apartment community in Lorton, Virginia.

HFF marketed the asset exclusively for Cornerstone Real Estate Advisers, acting on behalf of an institutional investor.

Metropolitan at Lorton Station is located at 9030 Lorton Station Boulevard directly adjacent to Lorton Station Town Center and the Lorton Virginia Railway Express station, which provides direct access to Washington, D.C.’s Union Station.

 The property is approximately five miles from the Fort Belvoir army base and is near Interstate 95 and Highway 1.  

Originally developed as condominiums in 2007, the community has 251 one- and two-bedroom rental units averaging 962 square feet each with features including stainless steel appliances, granite countertops, hardwood floors, soaking tubs, walk-in closets and full-size, in-unit washers and dryers. 

Additional amenities include an outdoor swimming pool, sports club, resident lounge, coffee bar, billiards room, business center and conference space.

The HFF investment sales team was led by Walter Coker and Brian Crivella.

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

Olivia Hennessey

Public Relations Coordinator

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

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

www.cornerstoneadvisers.com.

HFF secures $28.17 million construction financing for development of Embassy Suites hotel in Amarillo, TX

Rendering of planned Embassy Suites hotel, Amarillo, TX

Travis Andeerson

DALLAS, TX – Nov. 23, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $28.17 million in construction financing to develop the 225-room, full-service Embassy Suites hotel to anchor the Civic Center redevelopment in Amarillo, Texas.   

HFF worked on behalf of the developer, NewcrestImage, to secure the financing through Southwest Bank, the largest locally-owned bank in Fort Worth, Texas.

Located at the intersection of 6th Avenue and Buchanan Street, the 200,000-square-foot Embassy Suites hotel will be part of the planned improvements in downtown Amarillo that surrounds Amarillo’s Civic Center, a multi-purpose convention center that will also include retail, a parking garage and an entertainment venue/ballpark.

 Amarillo is the 14th largest city in Texas and the largest city in the Texas Panhandle.  The all-suite, Hilton-branded hotel will feature 30,000 square feet of meeting and function space, 300 parking spots in an adjacent garage for the exclusive use of the hotel, lounge and lobby bar, pool, fitness center and full-service restaurant for breakfast, lunch and dinner.  The hotel is expected to be complete in 2017.

The HFF debt placement team representing the borrower was led by senior managing director Travis Anderson and director Jim Curtin.

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.newcrestimage.com.