Capital Square Realty Advisors Completes DST Investment Offering of Medical Office Building Portfolio in Texas and South Carolina

Louis Rogers

RICHMOND, VA – Capital Square Realty Advisors, LLC announced that its Delaware Statutory Trust investment offering, MOB Portfolio I, DST, comprised of two medical office buildings in Houston, Texas and Gaffney, S.C., has been fully subscribed by investors.

“This portfolio includes two quality medical office buildings 100 percent net leased on a long-term basis to stable tenants,” said Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors. “This is Capital Square’s 11th sponsored DST offering to be fully subscribed by investors.  

"We are pleased to provide investors with the many benefits of owning investment-grade real estate in the medical sector through the DST structure.”

The single-story building located at 9551 Fannin St. in Houston is 100 percent leased to Mentis Neuro Rehabilitation.

 The second property in the portfolio, 722 Hyatt Street in Gaffney, S.C., is 100 percent leased to Novant Health and operates Novant Health Family Medicine and Novant Health Bone & Joint in the building.

Through a sublease to Spartanburg Regional Hospital, the building also houses Gibbs Cancer Center & Research Institute. Situated on 8.6 acres of land, the building was originally constructed in 1996 and underwent an expansion and renovation in 2009. In 2011, more than 5,500 square feet of space underwent further renovation and an additional 3,015 square feet was added to the building.

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

Julie Leber

Spotlight Marketing Communications

949.427.5172, ext. 703

julie@spotlightmarcom.com

Berger Commercial Realty/TCN Worldwide Appointed as Exclusive Leasing Agent for Two Broward County, FL Office Properties

2425 East Commercial Boulevard, Fort Lauderdale, FL

FORT LAUDERDALE, FL -- Berger Commercial Realty/TCN Worldwide, a full service commercial real estate firm, has acquired two new exclusive lease listings in Broward County.

Brokers Joseph Byrnes, Keith Graves and Jonathan Thiel are representing Miami-based landlord SF Partners Mortgage, LLC in the marketing and leasing of both properties.

One of the properties, located in the affluent east-side market of Fort Lauderdale at 2425 E. Commercial Blvd., is a four-story boutique office building with 23,339 square-feet of rentable space. The area surrounding the building features a high-end residential base and a vibrant business community with area professionals and service firms.

4300 North University Drive, Lauderhill, FL

   The other property, located at 4300 N. University Drive in Lauderhill, is a two-story, multi-building professional campus with 102,120 square-feet of rentable space. 

Strategically located along the University Drive corridor, the property offers flexible floor plans, attractive lease rates, and around-the-clock access.

"We are delighted to work with SF Partners Mortgage," said Graves of the significant new contract. 

"Our goal is to further re-position each property within their respective submarkets. With responsible local ownership and ongoing renovations, both properties offer outstanding value for future tenants."

 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 

HFF closes sale of mixed-use retail and office building in Berkeley, CA

2190 Shattuck Avenue, Berkeley, CA

SAN FRANCISCO, CA  – HFF announced it has closed the sale of 2190 Shattuck Avenue, a 100-percent leased, 47,281-square-foot, mixed-use building in Berkeley, California, anchored by a ground-floor Walgreens with second-story creative office tenancy.

Nicholas Bicardo

HFF marketed the asset on behalf of the seller, a partnership between Sansome Pacific Properties, Inc. and Somera Capital Management. 

The property is situated directly on top of the Downtown Berkeley BART station and is within one block of the University of California at Berkeley, providing one of the most heavily trafficked locations in the region.

 Built in 1956 through 1957, 2190 Shattuck was significantly renovated in 2012, attracting Walgreens to sign a brand new 50-year lease to anchor the property, as well as two technology-oriented tenants that lease the creative office space and a medical training facility on the lower level. 

The HFF investment sales team representing the seller was led by managing director Nicholas Bicardo, associate director Danny Reddin, senior managing director Steve Golubchik and real estate analyst Brandon Rogoff.

“2190 Shattuck is an exceptional ‘covered land play’ where the existing income and location are rock solid, and the current zoning provides for several different exit strategies,” Bicardo said.

Steve Golubchik

 “We saw an overwhelming amount of capital show up, including a significant amount of foreign, highlighting the continued demand for infill sites situated near major transportation lines.”

“Additionally, the property benefits from lease provisions that allow redevelopment of the property,” Reddin added.  

“These provisions, combined with Berkeley’s critical housing shortage and pro-development initiatives, make 2190 Shattuck one of the premier redevelopment sites in the San Francisco Bay area.”

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.sansomepacific.com.

www.someracapital.com.

HFF places $14.475 million loan on Dupont Circle office building in Washington, D.C.

1509 16th Street, Washington, DC

 WASHINGTON, D.C. – HFF announced it has placed $14.475 million in financing for 1509 16th Street NW, a 32,000-square-foot office building in Washington, D.C.’s Dupont Circle.

Dan McIntyre

HFF worked on behalf of the borrower, MRP Realty and UberOffices, to secure the 10-year, fixed-rate loan through First National Bank.  Loan proceeds were used to acquire the building and fund renovation/lease-up costs.

1509 16th Street NW is situated in downtown Washington, D.C. about eight blocks from the White House and four blocks from The Dupont Circle Metro station. 

  Originally built in 1909, the building will be fully renovated by early 2016 for owner/user UberOffices, which will occupy the entire building.

The HFF debt placement team representing the borrower was led by director Dan McIntyre.

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.MRPRealty.com.

HFF secures refinancing for One City Centre in downtown Houston, TX

One City Centre, 1021 Main Street,
Houston, TX

HOUSTON, TX – HFF announced it has secured refinancing for One City Centre, a 608,660-square-foot, Class A, 32-story office tower and two parking garages in downtown Houston, Texas, owned by Accesso Partners, LLC.

               HFF worked on behalf of the borrower, Hallandale Beach, Florida-based Accesso, to secure the 10-year, fixed-rate loan through J.P Morgan Chase Bank, National Association.

 Loan proceeds were used to retire existing debt that was used to purchase the property in 2012 in an HFF-brokered transaction.  HFF was also involved in the prior trades of the property in 2007 and 2008.

               One City Centre is located at 1021 Main Street with direct access to the Metro Light Rail line and tunnel system in downtown Houston. 

  Originally built in 1961, the property was most recently renovated in 2010 and is LEED EB Gold certified.  

Tenants at the 86 percent leased tower include Waste Management and Energy XXI.  One City Centre also includes the 758-space One City Centre Garage and the 611-space Fannin Garage.

The HFF debt placement team representing the borrower was led by senior managing director Susan Hill and real estate analyst Michael Johnson.

Susan Hill

Accesso Partners LLC is a full-service, vertically-integrated commercial real estate investment manager, owner, and operator that aims to provide superior returns to its U.S., international and institutional investors.

  Accesso Partners LLC is headquartered in Hallandale Beach, Florida with offices in Houston, Dallas, Minneapolis, and Atlanta. 

  To learn more, please visit  www.accessopartners.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 $28 million financing for 11-property multi-state theater portfolio

  

De'On Collins

DALLAS, TX – HFF announced it has arranged $27.877 million in acquisition financing for an 11-property theater portfolio totaling 109 Cinemark- and Regal-branded screens in eight states.

HFF worked on behalf of the borrower, a joint venture between United Development Company, LLC and Iron Point Real Estate Partners III, L.P., to secure the two-year, floating-rate loan through CapitalSource, a division of Pacific Western Bank.

  Loan proceeds will be used for the acquisition of the portfolio and real estate improvements to four locations with restructured leases.

When the venture went under contract with the portfolio, there were limited lease terms remaining for each location, and they were able to restructure new, long-term leases for four of the 11 locations. 

Three theaters will operate as luxury United Artist Theatre Circuit, Inc. theaters, and one will operate as Cinemark’s new upscale theater brand.  The theaters are located in Dallas, Fort Worth and Grand Prairie, Texas; Englewood, Colorado; Lake Charles, Louisiana; Clinton and Ridgeland, Mississippi; Sewell, New Jersey; Larchmont, New York; Asheville, North Carolina and Lawton, Oklahoma. 

HFF’s debt placement team was led by associate director De’On Collins and real estate analyst Michael George.

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.udcglobal.com.

www.capitalsource.com.

www.ironpointpartners.com

Essex Realty Group Brokers Sale of 6-Unit Mixed-Use Building in Chicago’s Ukrainian Village neighborhood.

                    939 North Western Avenue apartments, Ukrainian Village Neighborhood,
                                                             Chicago, IL

CHICAGO, IL - Essex Realty Group, Inc. is pleased to announce the sale of 939 N. Western Ave.

939 N. Western Ave. is a 6-unit mixed-use walk-up building located in Chicago’s Ukrainian Village neighborhood.  The residential units all offer attractive floor plans with eat-in kitchens. 

Matt Welke

Four (4) apartments have new kitchen cabinets and two (2) apartments include granite countertops.  In addition, the commercial space boasts high ceilings and offers 1,100 square feet of additional private basement storage space.  The building has hardwood floors throughout and offers one (1) private storage unit per apartment.

The property is situated on the east side of Western Avenue, just south of Augusta Boulevard, and is located steps from several well-known Chicago destinations such as the Empty Bottle and Lockdown Bar & Grill. 

  In addition, the property is located within close proximity to multiple CTA bus stops along Western Avenue and Chicago Avenue, as well as the Western Avenue Metra Station. 

The sale price was approximately $805,000.

Abe Eilian and Matt Welke were the brokers on the transaction.

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

Douglas Fisher

Essex Realty Group, Inc.

773.305.4910

dougfisher@essexrealtygroup.com

www.essexrealtygroup.com

Essex Realty Group Brokers the Sale of a 4-Unit Mixed-Use Building in Chicago, IL

3342 North Halstead Street Apartments,
Lakeview Neighborhood, Chicago, IL

CHICAGO, IL --  Essex Realty Group, Inc. is pleased to announce the sale of 3342 N. Halsted St. located in the heart of Chicago’s Lakeview neighborhood on the west side of Halsted Street just north of the intersection of North Halsted Street and West Buckingham Place.

 The property is within walking distance to Belmont Harbor, Wrigley Field, Whole Foods, Jewel-Osco, Treasure Island, the Addison and Belmont Red Line “L” stops and an abundance of restaurants, retail and entertainment venues.

The property is a newer construction elevator building consists of three apartment units and one street level retail space. 

The apartment units are approximately 1,780 square feet and have condo quality finishes that feature granite countertops, stainless appliances, hardwood floors, front balconies, rear porches, in-unit laundry and central heat and air.

Jordan Gottlieb

The sale price was approximately $1,700,000.

Jim Darrow and Jordan Gottlieb were the brokers on the transaction.

Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

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

Douglas Fisher

Essex Realty Group, Inc.

773.305.4910

dougfisher@essexrealtygroup.com

www.essexrealtygroup.com

Marcus & Millichap Arranges $1.275 Million Sale of 9-Unit Apartment building in Treasure Island, FL

Francesco P. Carriera

TREASURE ISLAND, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Mont Carlo Apartments, a 9-unit apartment property located in Treasure Island, FL, according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

 The asset sold for $1,275,000.

Francesco P. Carriera, Joshua Teplitzky, Cameron Barbas and Michael P. Regan, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. 

Mont Carlo Apartments is located at 105 110th Avenue in Treasure Island, FL.   

It is a waterfront, multifamily community located in the town of Treasure Island, Florida which is in Pinellas County. 

The property is walking distance to the Gulf of Mexico and it is within two miles of John's Pass, a quaint turn of the century fishing village which is Pinellas County's #1 tourist attraction.

Michael P. Regan

 Over one hundred merchants inhabit the village with unique retail shopping, a variety of restaurants, the local fishing fleet, dolphin watching and shelling tours, boat rentals, para sailing and jet skiing.

"This transaction is a true representation of how cap rates have compressed in extremely desirable locations,” says Teplitzky.  

“The capitalization rate was under 5% due to the sale including a two-story waterfront house with a boat lift and a pool which intrinsically added value to the offering,” added Teplitzky.

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

Richard D. Matricaria

Vice President/Regional Manager, Tampa

(813) 387-4700