RealtyTrac Reports U.S. Foreclosure Activity Increases 3 Percent in April to 18-Month High Driven by Rising Bank Repossessions

Daren Blomquist

IRVINE, CA,  May 21, 2015 — RealtyTrac®(www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its April 2015 U.S. Foreclosure Market Report™, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 125,875 U.S. properties in April of 2015, up 3 percent from the previous month and up  9 percent from a year ago, an 18-month high.

The U.S. foreclosure rate in April was one in every 1,049 housing units with a foreclosure filing.

“The REO increase in April was foreshadowed by a 23-month high in scheduled foreclosure auctions in October 2014,” said Daren Blomquist, vice president at RealtyTrac.

 “Many of those scheduled auctions are now taking place, and properties are going back to the foreclosing lender. 

Mark Hughes

"Meanwhile we continue to see foreclosure starts decrease, and foreclosure starts nationwide are now running consistently below pre-crisis levels — indicating that the overall increase in foreclosure activity in April is a continuation of the clean-up phase of the last housing crisis, not the start of a new crisis.

“We’ve seen distressed inventory work its way through the auction and REO process at a varying pace depending on local market conditions and price points,” said Mark Hughes, chief operating officer with First Team Real Estate, covering the Southern California market. 

“The uptick in April is a natural part of that flow toward equilibrium and a more stable market.”

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

Ginny Walker

949.502.8300, ext. 268

ginny.walker@realtytrac.com

HFF arranges $38.1 million in preferred equity for Midtown South office property in Manhattan, NY

  

95 Morton Street, Midtown South, Manhattan, NY

 NEW YORK, NY -- HFF announced today that it has arranged a $38.1 million preferred equity investment in 95 Morton Street, a 205,000-square-foot Class A office property located in Midtown South, Manhattan.

Jay Marshall

HFF worked on behalf of the owner, Brickman, to secure the preferred equity through a national REIT.  The capital will be used to complement existing low-leverage financing, support further lease-up and allow for additional base building capital improvements.

95 Morton Street is located in the West Village neighborhood of Manhattan, one block from the Hudson River and Hudson River Park, and within walking distance of subway lines 1, ACE, BDF and the PATH train.   Originally built in 1911, the property was renovated in 2000 and is 88 percent leased to a variety of technology, advertising, media and information tenants. 

The HFF equity placement team was led by senior managing director Jay Marshall, associate director Christopher Peck and associate director David Fowler.

“Brickman’s foresight to invest in the West Village office market prior to its emergence as a premier submarket resulted in a tremendous amount of imputed value.  We were pleased to be able to provide a national REIT with an excellent investment opportunity in a hyper competitive market and at the same time lower Brickman’s original basis,” said Marshall.

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 Adventist Health Lacey Medical Plaza in Hanford, CA

Adventist Health Lacey Medical Plaza, 1524 West Lacey Boulevard, Hanford, CA

 SAN DIEGO, CA, May 21, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Adventist Health Lacey Medical Plaza, a 48,606-square-foot, single-tenant medical office building in Hanford, California.

Evan Kovac

HFF marketed the property on behalf of the seller, a private development company.  American Realty Capital Healthcare Trust II, Inc. purchased the asset.

Adventist Health Lacey Medical Plaza is located at 1524 West Lacey Boulevard at the intersection of Mall Drive in downtown Hanford, a suburb about 28 miles southeast of Fresno. 

This location is directly across from the Hanford Mall, adjacent to the King’s County Civic Center and Community Courthouse, and close to the Adventist Medical Center.  

Completed in 2002 as part of a build-to-suit for Adventist Health, the property is fully leased to Adventist Health Physician Network. 

The HFF investment sales team was led by managing director Evan Kovac.

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 $6.633 million sale of and secures $5.3 million financing for Woodland Park Estates in Portland, OR

Woodland Park Estates, 1820 NE 104th Avenue, Gateway Neighborhood, Portland, OR

PORTLAND, OR  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $6.633 million sale of and secured $5.3 million in financing for Woodland Park Estates, a 74-unit multi-housing community located in Portland’s Gateway neighborhood.

Nick Klein

HFF marketed the property on behalf of the seller, Rael Development Corporation (“Raelcorp”).  Trion Properties purchased the asset free and clear of existing debt and plans to perform an extensive renovation and repositioning strategy with the property. 

HFF also worked on behalf of the buyer to secure an 80 percent LTV, seven-year, floating-rate loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. 

  The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.  HFF previously worked with Raelcorp to secure a fixed- rate loan to purchase the property in 2011.

Woodland Park Estates is located at 1820 NE 104th Avenue, approximately one half of a mile from the entrances to Interstates 205 and 84 and eight miles northeast of downtown Portland. 

  Situated on three acres, the property has two- and three-bedroom units averaging 962 square feet each.  Property amenities include a swimming pool, community common area, resident parking and on-site laundry facilities.  The property is currently 98 percent leased.

Tyler Linn

The HFF investment sales team representing Raelcorp was led by associate directors Nick Klein and Tyler Linn.

HFF’s debt placement team representing Trion Properties was led by managing director Mark Wintner.

“This process started with a complicated loan assumption but with the help of our experienced debt team, along with the cooperation of both the buyer and the seller, we were able to source new financing and execute a smooth and successful transaction with results that met the needs of both parties,” said Wintner.

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 $49.5 million sale of multi-housing community in Wilsonville, OR

Canyon Creek, 26310 SW Canyon Creek Road, Wilsonville, OR

 PORTLAND, OR, May 21, 2015 - Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $49.5 million sale of Canyon Creek, a 372-unit, garden-style multi-housing community in Wilsonville, Oregon.

Ira Virden

HFF marketed the asset on behalf of the seller, a private investor.  Aukum Management LLC purchased the property for $49.5 million free and clear of existing debt.

Canyon Creek is situated approximately 16 miles south of downtown Portland on a 29.76-acre site at 26310 SW Canyon Creek Road near major area highway and public transportation arteries such as Interstate 5 and the Westside Express Service commuter rail. 

The property is 95.7 percent leased and has units averaging approximately 858 square feet each. 

  Community amenities include a swimming pool, hot tub, fitness center, playground, clubhouse and business center.

The HFF investment sales team was led by managing director Ira Virden and associate director Kerry Hughes.

“Wilsonville is an extremely supply-constrained submarket, with an abundance of high-paying, white-collar jobs.  Coupled with the ability to enhance value through implementing a value-add business plan and buying well below replacement cost, the asset proved to be an attractive offering for investors,” said Virden.

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

Hold-Thyssen Negotiates Sale of Retail Site on State Road 44 in New Smyrna Beach, FL

Therese Taylor

New Smyrna Beach, FL -- Hold-Thyssen, Inc.  a real estate services firm based in Winter Park, recently completed the $275,000 sale of a 1.7-acre retail site at 1932 Canal St. (SR 44) in New Smyrna Beach.  

Therese Taylor, broker associate at Hold-Thyssen in Winter Park, negotiated the transaction representing the Orlando-based seller, PNC/Midland. 

The property is adjacent to the Publix Center, Bank of America and Taco Bell. 

The buyer, who was not disclosed, plans a commercial-office development on the site, Taylor said.    Charlotte A. Smith of Collado Real Estate represented the buyer.

Hold-Thyssen provides commercial property and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States.

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

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