Crossman & Company President John Crossman to speak at 2015 ULI Florida Summit

Sawgrass Marriott Golf Resort, Ponte Vedra Beach, FL

Orlando, FL – Crossman & Company President John Crossman will speak about the urbanization of retail development at the 2015 annual ULI Florida Summit on June 5.

Crossman will serve as a panelist at the conference’s The Urbanization of Retail Development session, alongside Carlos Valera, studio director with Gensler. 

The discussion will take place from 10:30 a.m. to noon on June 5 at Sawgrass Marriott Golf Resort in Ponte Vedra Beach, Fla.

The ULI Florida Summit connects more than 500 of Florida’s leading experts and practitioners from private practice, the public sector and academia for two days of speakers, expert panel discussions, interactive sessions, mobile tours and networking opportunities.

The summit, which starts on June 4, is hosted and produced jointly by the five ULI District Councils of Florida.

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

Sydnie Cobb

Crossman & Company

scobb@crossmanco.com

407.581.6261

Cushman & Wakefield Represents Century 21 Department Store in 86,048-SF Lease at Sawgrass Mills in Sunrise, FL

Gene Spiegelman

NEW YORK, JUNE 1, 2015 – Cushman & Wakefield announced today that it represented Century 21 Department Store in a long-term lease at Sawgrass Mills, located at 12680 West Sunrise Boulevard in Sunrise, FL. The store is expected to open at the end of 2016.

“We’re extremely excited about opening in Sawgrass Mills and entering the Florida market,” said Raymond Gindi, CEO of Century 21 Department Store. “Sawgrass is an incredible center that draws shoppers both locally and internationally.”

Century 21 Department Store will occupy approximately 86,048 square feet on one floor, which is currently occupied by VF Corporation. Simon Property Group purchased the building from VF, while negotiating the long-term lease with Century 21.

The retailer joins an incredible tenant roster that includes Neiman Marcus Last Call, Bloomingdales The Outlet Store, Nordstrom Rack, and Saks Off Fifth in addition to an extensive roster of luxury outlet stores at the largest retail and entertainment outlet in the U.S.

Jason Greenstone

A Cushman & Wakefield retail team of Gene Spiegelman and Jason Greenstone represented Century 21 Department Store in the transaction.

“This transaction represents the first lease outside of the Northeast region and is a key step in the expansion strategy for Century 21,” said Mr. Spiegelman, Vice Chairman and Head of North America Retail Services for Cushman & Wakefield. 

“The Sawgrass Mills shoppers will have a great store with great products to fill their suitcases with before they leave the center.”

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

Brad.Dugard@cushwake.com

Arbor Named Top Fannie Mae DUS® Small Loan Lender

Ivan Kaufman

UNIONDALE, NY (June 1, 2015) – Arbor Commercial Funding, LLC (“Arbor”), a wholly owned subsidiary of Arbor Commercial Mortgage, LLC and a national, direct commercial real estate lender, today announced  it was named Fannie Mae’s Top Small Loan Lender for its 2014 production.

The company attributes its achievement of the top designation to its long-standing small loan expertise, uniquely personalized customer service for both small and large loan borrowers and certainty of execution. 

The award was recently bestowed upon Arbor at the 2015 Fannie Mae Delegated Underwriting and Servicing (DUS) Annual Meeting in Washington, DC.

“We are extremely proud of this accomplishment and our ongoing successful business partnership with the Fannie Mae DUS program,” said Ivan Kaufman, Arbor’s Chairman and CEO.

 “This distinction is a reflection of Arbor’s long-term dedication and commitment to the small multifamily loan market. Our focus on small loans began nearly 20 years ago, as we were the first firm to partner with Fannie Mae on its newly developed small loan pilot program.

“I am truly proud of our history and equally excited for the future as we prepare to announce news later in the year regarding an innovative platform developed exclusively for the small balance loan client.”

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

Christopher Ostrowski

costrowski@arbor.com

HFF closes sale of grocery-anchored retail center in Washington, D.C. metro area

Purvellville Gateway Retail Center, 105 Purcellville Gateway Drive,
Purcellville, VA

WASHINGTON, DC, June 1, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Purcellville Gateway, an 88,687-square-foot, Harris Teeter-anchored retail center in Purcellville, Virginia.

John Owendoff

HFF marketed the property on behalf of the seller, a joint venture between Roadside Development and Harris Teeter.  ECHO Realty, LP purchased the asset.  Roadside Realty will continue to manage the asset.

Situated on 16 acres of what was once Cole Farm, Roadside Development created a shopping center that integrates many of the farm’s original structures – the farmhouse, barn and silo – and distinctive architecture into the center. 

This can be seen in the center’s red standing seam roofing, residential scale white wood siding, covered porches and sheds, dormers, cupolas and fences.  

Completed in 2012, Purcellville Gateway is 100 percent leased to a strong roster of tenants including Harris Teeter, Starbucks, PetValu, Coach’s Corner Grill and Jersey Mike’s Subs.

 Located at 105 Purcellville Gateway Drive, the center is at the corner of Berlin Turnpike (Route 287) and Main Street (Business Route 7) in the affluent Washington, D.C. exurb of Purcellville, a Loudoun County town at the foothills of the Blue Ridge Mountains.

The HFF investment sales team representing the seller was led by John Owendoff and Jordan Lex.

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.echorealty.com

www.echoretail.com.

www.harristeeter.com.

www.roadsidedevelopment.com.

HFF arranges $75 million refinancing for The Swig Company’s 501 Second Street in San Francisco, CA

501 Second Street, SOMA submarket, San Francisco, CA

Bruce Ganong

SAN FRANCISCO, CA, June 1, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $75 million to refinance 501 Second Street, a seven-story, 208,000-square-foot, Class A creative office property owned by The Swig Company in San Francisco’s SOMA submarket.

HFF worked on behalf of The Swig Company to secure the 10-year, fixed-rate loan through John Hancock. 

501 Second Street is located at 2nd and Bryant Streets, just three blocks from AT&T Park and in close proximity to the Central Subway project that will be completed in 2019.

 It is also convenient to Caltrain, Muni, and BART, as well as Interstates 80 and 280, and Highway 101.

  Originally built in 1925, the property has been continually upgraded by The Swig Company and is fully-leased to 17 tenants representing a variety of industries including technology, media, architecture, and venture capital.  

501 Second Street features large efficient floor plates and one-level of below-grade parking.

The HFF debt placement team representing the borrower was led by senior managing director Bruce Ganong and associate director Brandon Roth.

Brandon Roth

“We are delighted to lock-in a great loan at favorable interest rate for one of the company’s signature long-term assets.  The team at HFF and John Hancock made the process seamless and very user-friendly,” reported Connor Kidd, V.P. of investments for The Swig Company.

“Strong sponsorship combined with an institutional quality asset that enjoys stable cash flow and a diverse rent roll, resulted in a very competitive response from life insurance companies and commercial banks,” said Ganong.

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 $25 million refinancing for DoubleTree Suites by Hilton Hotel Minneapolis

                        

DoubleTree Suites by Hilton Hotel Minneapolis, Downtown Minneapolis, MN

Steven Klein

NEW YORK, NY, June 1, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured a $25 million refinancing for the DoubleTree Suites by Hilton Hotel Minneapolis, a 229-key, full-service hotel in downtown Minneapolis, Minnesota. 

HFF worked on behalf of the borrower, Wheelock Street Capital L.L.C, to secure the three-year, floating-rate loan with two optional one-year extensions through BBVA Compass Bank. 

Loan proceeds will be used to refinance a loan, which was assumed by the borrower upon its acquisition of the property in 2012.

The 12-story DoubleTree Suites by Hilton Hotel Minneapolis is an all-suite hotel located in the heart of downtown Minneapolis at 1101 LaSalle Avenue.

 The hotel is within walking distance of the Minnesota Convention Center, Orpheum Theatre, University of St. Thomas – Minneapolis and the Loring Greenway, and is across the street from Target’s corporate headquarters.  Renovated in 2013, the 150,752-square-foot hotel has 229 suites averaging 446 square feet. 

The HFF debt placement team representing the borrower was led by managing director Steven Klein and real estate analyst Sam Nidenberg.  

”Since acquiring the asset in 2012, Wheelock created tremendous value through its hands on approach to asset management,” Klein said.  “BBVA Compass provided an attractive and flexible loan, which enabled the borrower to continue to execute its business plan and enhance the asset.”

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

Woodside Green, a large-scale residential development site in Queens, NY listed for sale by HFF

Eric Anton

NEW YORK, NY, June 1, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has been named to market for sale the “Woodside Green” Development Project, an approximate 296,000-maximum-buildable-square-foot development site in Woodside, Queens, New York.  

 

The development site is comprised of four parcels currently improved with three commercial structures totaling 53,210 square feet on Queens Boulevard, a 7,966-square-foot apartment building on 45th Avenue and a 3,018-square-foot vacant residential house on 45th Avenue.

The assemblage comprises the majority of the block and is a short walk from the Jackson Heights – Roosevelt Avenue subway station with access to Midtown Manhattan via the E, F, M, R and 7 trains as well as major roadways including Queens Boulevard, Route 278 and the Long Island Expressway.  

The HFF investment sales team representing the seller is led by senior managing director Eric Anton, managing director Rob Hinckley, and associate director Steven Rutman.

“Woodside Queens is experiencing dynamic growth from new residents relocating from Manhattan and Brooklyn to take advantage of the larger apartment spaces and terrific commuting options to Midtown’s commercial district,” said Anton.

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

Marcus & Millichap arranges sale of 4.2 acres of land in Miami, FL for $4 million

Ryan T. Shaw

 MIAMI, June 1, 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 4.2 acres of land with an additional parcel outside the urban boundary line, located in Miami. 

The site sold for $4 million.

Ryan T. Shaw, an associate vice president investments in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Coral Gables, Fla.  

The buyer, a limited liability company from Dania Beach, Fla, was secured and represented by Drew A. Kristol and Kirk D. Olson, vice president investments in Marcus & Millichap’s Miami office.

“The property was on the market for a couple of years prior to Marcus & Millichap obtaining the listing,” says Shaw.  “We generated five offers and ultimately sold the property to a developer of a major retail tenant.”

The vacant lots wrap the Bank of America building located at SW 26th Street and SW 147th Avenue with approximately 200 feet of frontage on Coral Way and 300 feet on SW 147th Avenue, which was recently extended to connect to SW 8th Street. The land is zoned for retail and service convenience facilities (BU-1A).

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

Kirk A. Felici

First Vice President/District Manager

Miami, FL

(786) 522-7000

Marcus & Millichap Brokers $1.94 Million Sale of Sun Burst Inn in Indian Shores, FL

Casey Babb

INDIAN SHORES, FL, June 1, 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 Sun Burst Inn, a 12-room hospitality property located in Indian Shores, FL, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. 

The asset sold for $1,948,000.

Casey Babb, CCIM, Vice President Investments, and Ari Ravi, Associate, in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. 

The buyer, a private investor, was secured and represented by Casey Babb, CCIM and Ari Ravi.

“The Sun Burst Inn was attractive to the buyer who was looking for a stabilized asset located in an irreplaceable location. This asset fit their criteria of being located on the beach of Indian Shores with high, in-place cash flow and the ability to further increase income through minimal operational changes,” says Babb.

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

Richard D. Matricaria

Vice President/Regional Manager

Tampa, FL

(813) 387-4700

Mortgage Bankers Association Reports Commercial/Multifamily Delinquencies Continue to Decline in First Quarter

Jamie Woodwell

WASHINGTON, D.C. (June 1, 2015) — Delinquency rates for commercial and multifamily mortgage loans continued to decline in the first quarter of 2015, according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report.

“Commercial and multifamily mortgage performance continues to improve. Increasing property incomes, rising property values and a strong finance market are working together to push delinquency rates lower,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research.

The MBA analysis looks at commercial/multifamily delinquency rates for five of the largest investor-groups: commercial banks and thrifts, commercial mortgage-backed securities (CMBS), life insurance companies, Fannie Mae, and Freddie Mac.  Together these groups hold more than 80 percent of commercial/multifamily mortgage debt outstanding.

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

Ali Ahmad

aahmad@mba.org

(202) 557-2727

Berkadia Took Top Honors at BBJ’s “Best Places to Work” Awards Celebration in Downtown Birmingham, AL

David Oakley

Birmingham, AL-- The Birmingham office of Berkadia, a multifamily investment banking and research company, was honored as one of Birmingham’s Best Places to Work at a recent awards celebration at the Sheraton downtown. 

David Oakley, partner who heads Berkadia’s office in Birmingham, said his company ranked first in its category – small office with 10-24 employees.  

“We are very proud of the recognition we have received from our employees and to be among those companies with the best work environments,” said Oakley.

The recent event was Birmingham Business Journal’s 10th Best Places to Work awards which spotlight those companies that set a standard for a healthy work-life balance and offer the best perks, and the best benefits.

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

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

NAI Realvest Negotiates Investment Sale of Altamonte Springs, FL Office Building

Thomas E. Hankins

MAITLAND, FL – NAI Realvest recently negotiated a $310,000 sale for a 3,504 square foot stand alone office building at 299 Loraine Drive in Altamonte Springs.  

Thomas E. Hankins, CCIM, SIOR, principal Frank Scheraldi, broker-associate at NAI Realvest negotiated the sale of the two-story building, which was built in 1988, representing the local sellers Raziya M. Botee Family Trust FBO.    

The buyer is Hialeah, Fla. based L.I.M. Property Investments, LLC., who was represented by Ryan Beerbower of KW Commercial.   

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

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