David Purisch Joins Marcus & Millichap Capital Corp. as Associate Director in Fort Lauderdale, FL Office

John Wilcox

FT. LAUDERDALE, FL  – Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has hired David Purisch as associate director in the firm’s Ft. Lauderdale, F.L. office, according to John Wilcox, MMCC’s eastern division vice president.

            In his new position, Purisch will be responsible for securing commercial mortgages for an array of property types including multifamily, office, industrial, retail, manufactured housing and hospitality.

  “David’s commercial real estate financing expertise makes him a great fit for MMCC,” says Wilcox. “His industry knowledge and experience will be of great value to our clients.”

            Prior to joining MMCC, Purisch was a vice president with Silverhill Financial.   In his free time Purisch spends time with his family, enjoying the outdoors, especially snow skiing and playing basketball.

            Purisch is a graduate of the University of Florida, where he earned a bachelor’s degree in psychology and The George Washington University with a master of arts in human development.

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

Gina Relva

Public Relations Manager

Marcus & Millichap Capital Corporation

(925) 953-1716

HFF named to market for sale 19-property, two land site housing portfolio for University of Chicago

 

Brian Kelly

 CHICAGO, IL, May 18, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has been named to market for sale a 19-property, 676-unit portfolio plus two land sites, all owned by the University of Chicago in Chicago, Illinois.  Offers will only be accepted for the portfolio in its entirety, no individual trades will be considered.

The portfolio consists of University of Chicago graduate student housing and faculty/staff buildings that are currently more than 95 percent occupied.  The properties have a total of 883 beds and approximately 460,582 square feet.  

Units average about 681 square feet each.  The properties are located in Hyde Park and Kenwood, walking distance to campus, six miles south of Chicago’s Central Business District and close to Lake Michigan.   

The HFF investment sales team representing the University of Chicago is led by managing director Brian Kelly and associate directors Michael Higgins and Wickliffe Kirby.

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

Marcus & Millichap Arranges Sale of 3,940-SF Net-Leased Property in Palm Harbor, FL

James Medefind

PALM HARBOR, FL, May 18, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Havoline Xpress Lube & Pelican Car Wash Portfolio, a 3,940-square foot net-leased property located in Palm Harbor, FL, according to Richard D. Matricaria, vice president and regional manager of the firm’s Tampa office.

The asset sold for $730,000.

James Medefind, Senior Associate, had the exclusive listing to market the property on behalf of the seller, a private investor. 

Havoline Xpress Lube & Pelican Car Wash Portfolio is located at 680 Alternate 19 in Palm Harbor, FL.  The property sits on Alternate 19 which acts as the secondary throughway for Pinellas County.

 It is ideally located one-half mile north of a Winn Dixie anchored center and 0.8 miles south of Palm Harbor University High School (PHUHS), which serves over 2,475 students. 

Palm Harbor is located 30 minutes from Tampa, with 61,868 people living within three miles of the subject property and an average household income of $75,989. The asset is subject to a double-net lease. 

“We received 5 offers on this opportunity from both local and out of area investors.  Ultimately, the most aggressive buyer was a local investor who was executing a 1031 exchange.  Driving multiple offers was key to ensuring top of marketing pricing”, says Medefind.

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

Richard D. Matricaria

Vice President/Regional Manager,

Tampa, FL

(813) 387-4700

Griffin-American Healthcare REIT III Reports First Quarter 2015 Results

Jeff Hanson

IRVINE, CA (May 18, 2015) - Griffin-American Healthcare REIT III, Inc. today announced operating results for the company’s first quarter ended March 31, 2015.

“During the first quarter, Griffin-American Healthcare REIT III successfully completed the primary portion of its initial public offering launched in February 2014, which resulted in the investment of more than $1.84 billion of equity in our company,” said Jeff Hanson, chairman and chief executive officer.

“We are rapidly investing this capital, as evidenced by the more than $350 million in acquisitions completed during the quarter and the approximately $500 million of pending acquisitions1 we expect to complete over the course of the next several months.”

President and chief operating officer Danny Prosky added, “We are clearly focused on accretive portfolio growth and continue to add significant value to Griffin-American Healthcare REIT III as we deploy our capital. 

"At the close of the first quarter, the portfolio was 95.9 percent occupied with an average remaining lease term of more than 8 years and exceptionally low debt of less than 2 percent.”

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

Damon Elder

delder@ahinvestors.com

(949) 270-9207

Chris Phaneuf joins HFF as managing director in its Boston office

Christopher Phaneuf

                            

BOSTON, MA – May 18, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that Christopher Phaneuf has joined its Boston office as a managing director focused on institutional investment sales of office, multifamily and retail assets within the Boston market and nationally. 

Chris has more than 20 years of commercial real estate experience and joins HFF from Eastdil Secured, where he was a founder of the Boston office. 

“Chris is one of the top dealmakers in the Boston investment sales market and we are excited that he has made the choice to join our growing team, said Coleman Benedict, senior managing director and co-head of the Boston office of HFF.

  “Boston continues to be on everyone’s radar and having a transaction professional with Chris’ track record will only help us better serve our clients.”

Chris’ clients include a cross section of local, regional, national and international investors and developers including ASB Capital, Invesco, Deutsche Wealth Management, Prudential, Jamestown and Sunife.

 Chris holds a Bachelor of Arts degree from Washington & Lee University in Lexington, Virginia and is active in numerous industry and civic organizations include the Urban Land Institute, International Council of Shopping Centers and NAIOP, the commercial real estate trade organization. 

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

Related Midwest Nears Sales Closeout at South Loop Luxury by Related in Downtown Chicago, IL

Curt Bailey

CHICAGO, IL (May 18, 2015) – Related Midwest today announced the anticipated sellout of South Loop Luxury by Related, with just 15 of the collection’s original 504 condominiums remaining.

The residences, located across three South Loop towers – The Grant, Adler Place, and Harbor View – include a mix of one-, two- and three-bedroom units and are priced from $275,000 to $999,000. 

Collectively, they represent some of the last new-construction luxury condo inventory in downtown Chicago.

“We saw an opportunity to be at the forefront of the downtown condo market’s resurgence and knew we had the talent and resources in place to transform these buildings and deliver the luxury residential experience today’s buyers are looking for,” said Curt Bailey, president of Related Midwest.

“The success of the South Loop Luxury collection, in terms of both pace of sales and value created over the past two and a half years, is a testament to our team and underscores the pent-up demand for new-construction condos in the heart of the city.”

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

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

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

HFF secures $60 million financing for KOIN Center in downtown Portland, OR

  

Erica Christensen

PORTLAND, OR - May 18, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $60 million in financing for KOIN Center, a 352,023-square-foot, Class A office tower in downtown Portland, Oregon.

Tom Wilson

Working on behalf of the borrower, ScanlanKemperBard Companies, HFF placed the five-year, floating-rate loan with CIBC World Markets. 

The loan, which finances the recent all cash acquisition of the property, is structured with an initial funding of $50 million and future advances of $10 million. 

The future advances are intended to fund major renovations of the lobby and common areas as part of the repositioning of KOIN Center. 

KOIN Center is an iconic 34-story building with Class A office space on the first 19 floors and 44 high-end residential condominiums on floors 20 through 33 (not part of the financing).

 Building amenities include a 247-space underground parking garage, exercise facility with showers, business conference center and a deli/sundries shop.   

KOIN Center, 225 SW Columbia
Downtown Portland, OR

The property is located at 222 SW Columbia and has easy access to Interstates 5 and 405, the Green Max light rail line station and the Portland bus mall. 

The property is situated in the southern corner of Portland’s central business district, which will soon see a new Orange line as well as numerous planned developments including the Hilton Curio Collection hotel project and the Phil Knight Cancer Research Institute.

The HFF debt placement team was led by managing director Tom Wilson and associate director Erica Christensen.

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 secures $7.1 million acquisition financing for mixed-use project in Riverside, CA

Mission Lakes Center, 3600 Lime and 3397 Mission Avenue, Riverside, CA

IRVINE, CA – May 18, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $7.1 million in acquisition financing for Mission Lakes Center, an 81,975-square-foot, multi-tenant office project and freestanding restaurant in Riverside, California.

Greg Brown

Working on behalf of Stillwater Investment Group, LLC, HFF placed the five-year, fixed-rate loan that includes a flexible prepayment structure with a major life insurance company lender.  HFF is also servicing the loan.

Mission Lakes Center is located at 3600 Lime and 3397 Mission Avenue across from the Riverside Art Museum. 

The two-story building is one block east of the historic Mission Inn in downtown Riverside and benefits from its close proximity to the city and county administrative buildings and municipal and federal courts. 

The 80-percent-occupied project has 74,662 square feet of office space leased to tenants including Riverside County, Athena Research and First Legal Services, in addition to 7,313 square feet of freestanding retail space fully occupied by Heroes Restaurant & Brewery.  

 

The HFF debt placement team representing the borrower was led by associate director Greg Brown.

“After being able to secure this property off-market, the HFF team worked diligently and efficiently to help us identify and secure a great lender,” said John Drachman, president of Stillwater Investment Group. 

  “Both parties moved extremely quickly under a tight time frame to help us execute this transaction.  Stillwater Investment Group looks forward to working on future transactions with HFF and our lender.” 

“As a result of a strong relationship with the lender, HFF was able to move quickly to secure a favorable financing structure,” Brown said.  

“This will allow our client to execute their business plan of improving the exterior of the buildings and common areas, maintain tenant relationships and execute new leases for vacant space.” 

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 sale of 390-unit multi-housing community in Jupiter, FL

TGM Vintage at Abacoa, 863 University Boulevard, Jupiter, FL

 MIAMI, FL, May 18, 2015 – HFF announced today that it has closed the sale of TGM Vintage at Abacoa, a 390-unit multi-housing community in Jupiter, Florida within the Abacoa master planned community.

Jaret Turkell

HFF marketed the property on behalf of the seller, TGM Associates.  

TGM Vintage at Abacoa is located at 863 University Boulevard near Roger Dean Stadium, Florida Atlantic University, Abacoa Golf Club, Abacoa Town Center and Abacoa Plaza.

  Completed in 2003, the property is 99 percent leased and has 19 two- and three-story buildings that total 451,554 square feet of rentable space. 

  The property has one-, two- and three-bedroom units and community amenities such as two swimming pools, sauna, 24-hour athletic club, volleyball court, nature preserve with walking path, meditation garden, playground, barbecue area, clubhouse, billiards room, movie theater and car care center.

The HFF investment sales team representing the seller was led by managing director Jaret Turkell and associate director Maurice Habif.

“This property is exceptionally well-poised for strong performance given its excellent location within the Abacoa master planned community. Jupiter features strong demographics and a desirable lifestyle with high paying jobs,” said Turkell.

Maurice Habif

HFF’s investment sales team secured more than $9.3 billion in sales of multi-housing assets nationally through year end 2014.  

In Florida, HFF closed more than $1.3 billion in multi-housing transactions across all capital markets platforms during the same period.

Founded in 1991, TGM Associates is a SEC registered investment advisory firm with a single focus -- multifamily properties.

 TGM, a vertically integrated operating company, specializes in acquisitions, property management, leasing, construction, property maintenance and dispositions. 

TGM provides investment advisory services regarding the acquisition, management and sale of multifamily properties throughout the United States. An affiliate of TGM provides property management under the brand TGM Communities.  

As of June 30, 2015, TGM has approximately $2.3 billion in 125 multifamily properties throughout 28 states.  TGM’s current multifamily portfolio contains properties in 12 states.

 For more information please visit www.tgmassociates.com

 or call John Gochberg at 212-830-9312.

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