HFF closes $46.1 million sale of grocery-anchored shopping center in suburban Manchester, NH

The Shoppes at Bedford Mall, Bedford, NH

James Koury

BOSTON, MA – HFF announced it has closed the $46.1 million sale of The Shoppes at Bedford Mall, a 277,289-square-foot, recently-redeveloped, grocery-anchored retail center in Bedford, a suburb of Manchester, New Hampshire.

               HFF represented the seller, Emmes Asset Management Company LLC, and placed the 10-year, fixed-rate, $30 million loan with Guggenheim Commercial Real Estate Finance, LLC for the buyer.

               Anchored by Kohl’s, The Fresh Market and Marshalls, The Shoppes at Bedford Mall was fully redeveloped and renovated in 2012, which created new retail space that totals more than half of the center’s square footage.

Porter Terry

  The property is 98.6-percent leased to Staples, Weight Watchers, Pet Supplies Plus, Bob’s Store, Starbucks, Chipotle and Outback Steakhouse.  

Situated on 21.38 acres at 73 South River Road in Bedford, the asset is 4.6 miles south of Manchester, the largest city in New Hampshire and its financial capital. 

The Shoppes at Bedford Mall is positioned at the signalized intersection of US Route 3 and State Road 101 and at the entrance of a new freeway interchange for Interstates 93 and 293, providing access to more than 177,000 people who travel these routes daily.    

               The HFF investment sales team representing the seller was led by senior managing director James Koury and real estate analyst Xave Jacoby.

The HFF debt placement team was led by director Porter Terry.

Xave Jacoby

               “The seller did a great job repositioning the center from an enclosed mall into the region’s dominant grocery-anchored power center,” Koury said. 

  “The confluence of several major highways and the region’s attractive demographic profile insures the center’s dominant position for the foreseeable future.”

               Emmes Asset Management Company LLC is a privately-owned real estate investment advisory firm with corporate offices in New York and California.  Learn more at www.emmesco.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 $109 million sale of downtown Washington, D.C. office building

2025 M Street, Washington, DC

James Meisel

WASHINGTON, D.C.  – HFF announced it has closed the $109 million sale of 2025 M Street NW, a 195,624-square-foot office building in downtown Washington, D.C.’s Golden Triangle area. 

               HFF exclusively marketed the property on behalf of the seller, a partnership between The Oliver Carr Company and Clark Enterprises, Inc.  Mikeone EK purchased the asset. 

The eight-story 2025 M Street NW is situated between 20th and 21st Streets NW within downtown Washington, D.C.’s Golden Triangle, an area that encompasses 43 blocks and houses 3,000 businesses, more than 500 retail shops and restaurants and seven luxury hotels. 

Dek Potts

The building is proximate to four metro stations:  Farragut North and West, Dupont Circle and Foggy Bottom.  

The building features 173,229 square feet of office, 16,886 square feet of retail and 5,509 square feet of storage space in addition to a 4,500-square-foot roof terrace and three levels of below-grade parking containing 242 spaces. 

Tenants of the 100-percent-leased building include Kaplan, Radio Free Asia, and Smith Bucklin.

               The HFF investment sales team was led by senior managing directors James Meisel, Dek Potts and Andrew Weir, executive managing director Stephen Conley, associate director Matthew Nicholson and senior real estate analyst Jessica Diorio.

Andrew M. Weir

The Oliver Carr Company was founded in 1962 by Oliver T. Carr Jr. and was the predecessor company to CarrAmerica.  

Notable development projects include International Square and the restoration of the historic Willard Hotel.  The principal business activity of the company is real estate asset and investment management. 

  The company currently holds investments in certain real estate partnerships and joint ventures including the Willard Hotel and Office Building Complex, the Occidental Restaurant, 1919 Pennsylvania Avenue and the Embassy Suites and other hotels in Alexandria, Virginia.

Mikeone EK, and its sister companies, have been acquiring real estate throughout the country and are represented by Alex Kurkin out of Florida and Joao Rogerio Romaldini de Faria out of Brazil.  Adam Vaisman of Butters Construction & Development also advised the buyer in the transaction

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.clarkenterprisesinc.com.

HFF secures $19.5 million financing for Class A suburban Denver, CO office building acquisition

The Point at Inverness, 8310 South Valley Highway, Englewood, CO

Josh Simon

DENVER, CO  – HFF announced today that it has secured $19.5 million in acquisition financing for The Point at Inverness, a 186,945-square-foot, Class A office building in suburban Denver, Colorado.

               HFF worked on behalf of the borrower, a partnership between Hannay Realty Advisors, Artis REIT and Nicola Crosby, to secure the 10-year, 50-percent acquisition loan through Principal Real Estate Investors.  

The loan closed with a 3.29-percent fixed rate for seven years, which then adjusts for the final three years at the option of the lender and the borrower.

               The Point at Inverness is located at 8310 South Valley Highway within the heart of Inverness Business Park at the intersection of Interstate 25 and County Line Road in Englewood six miles southeast of Denver.

 The property is adjacent to the County Line Light Rail Station, across the freeway from the Park Meadows Mall and is within minutes of executive housing and other amenities.  This best-in-class building is 97-percent occupied by high-credit tenants, providing a strong and stable income stream.

Kristian Lichtenfels

The HFF debt placement team was led by managing director Josh Simon and real estate analyst Kristian Lichtenfels.

               With this acquisition, Hannay now has acted as an advisor on five purchases in the Denver area with a combined value in excess of $250 million in the past 24 months.

“The Point at Inverness is a high-profile, Class A asset with an irreplaceable location in a strong office node,” Hannay President Craig Hannay said.  “We are very pleased to add this asset to our growing portfolio in the Denver market.  

"We are actively looking for future acquisition and co-investment opportunities in the Denver area and throughout the western US, with a focus on quality retail centers and core to core plus office properties.”

. 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

CBRE Capital Markets Arranges $40.2 Million Sale of New Rental Community in Central Florida

Shelton Granade

Orlando, FL  – CBRE Capital Markets arranged the sale of Whitepalm

Apartment Homes, a new 306-unit luxury apartment community in Port Orange, Florida, about 45 minutes outside of Orlando.

The Class A property, located at 5400 S. Williamson Boulevard, was acquired from Birmingham, Alabama-based LIV Development by Carter-Haston Holdings from Nashville for $40,289,500.

CBRE’s Shelton Granade, Luke Wickham and Justin Basquill represented the seller in the transaction.

“Whitepalm is the fifth pre-stabilized apartment property we have sold recently in Central Florida. Investor interest in newer assets is growing substantially, even before these communities are fully occupied,” said Mr. Granade, Executive Vice President of CBRE Capital Markets, Multifamily. 

Luke Wickham

”Volusia County is in the midst of an impressive economic expansion and the Port Orange area was under-served in terms of luxury apartments.”

Whitepalm was completed in 2014 and is conveniently located in the Daytona Beach area near two of the area’s largest professional employers – Florida Hospital Memorial Medical Center and Halifax Medical Center. 

The gated community offers luxury finishes, such as stainless steel appliances, 9’ ceilings, oversized balconies, stylish cabinetry, and designer counter tops.

 Amenities include a large clubhouse, a resort-style pool with cabanas, a serenity beach fully equipped with hammocks and a state-of-the-art fitness center.

Justin Basquill

Granade, Wickham and Basquill have closed approximately $1.7 billion in multifamily sales in Central Florida from 2013 to date.

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

Elizabeth Cross

305.428.6373

elizabeth.cross@cbre.com

Daniel Jimenez

407.839.3191

daniel.jimenez@cbre.com

www.cbre.com

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