HFF arranges $18.32 million refinancing for Dallas-Fort Worth-area retail center

Grapevine Towne Center, Grapevine, TX

DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged an $18.32 million refinancing for Grapevine Towne Center, a 207,004-square-foot retail center in Grapevine, a Dallas-Fort Worth-area suburb.

Steve Heldenfels

Working on behalf of the borrower, a joint venture managed by Cencor Realty Service, HFF placed the 10-year, fixed-rate loan with Morgan Stanley Bank.  HFF will service the securitized loan.  Loan proceeds will be used to refinance the borrower’s existing debt.

Grapevine Towne Center is located along State Highway 114 between William D. Tate and Ira E. Woods Avenues (State Highway 26) in the Mid-Cities retail submarket, the second largest retail hub within the DFW area.  Grapevine Towne Center’s main building and five outparcel pads are 87.5 percent leased.

 Shadow-anchored by Target, the property maintains a national tenant lineup that includes Office Depot, Ross Dress for Less and Big Lots in addition to Vision Works, Weight Watchers, Hallmark Creations and Bealls. 

The HFF team representing the borrower was led by managing director Steve Heldenfels, senior managing director Travis Anderson and real estate analyst Joe Lerer.

Cencor Realty Service (Cencor) offers statewide property management, asset management and development operations.  Cencor currently manages a retail property portfolio of more than 22 million square feet.

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 financing for Ventana Apartments in San Antonio, TX

Ventana Apartments, 11020 Huebner Oaks, San Antonio, TX

HOUSTON, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured fixed-rate financing for Ventana Apartments, a 390-unit, Class A multi-housing community in San Antonio, Texas.

Cortney Cole

Working on behalf of the borrower, Venterra Realty, HFF placed the five-year, 3.06 percent fixed-rate loan with a life company correspondent lender.  Loan proceeds were used to acquire the asset.

Ventana Apartments consists of 25 two- and three-story residential buildings containing one-, two- and three-bedroom units totaling 380,076 rentable square feet.

  Community amenities include two swimming pools with cabanas, a fitness center, clubhouse and gated access. 

The 95-percent-leased property is located at 11020 Huebner Oaks near the intersection of Huebner Road and Interstate 10, proximate to retail and entertainment venues including Huebner Oaks Center, which provides an exceptional mix of more than 50 stores and restaurants within walking distance of the property. 

Ventana is also located minutes from the South Texas Medical Center (30,000 employees) as well as other major employers, including USAA.

The HFF debt placement team representing the borrower was led by director Cortney Cole and real estate analyst Jordan Finch. 

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 $20.35 million acquisition financing for 2-building industrial portfolio in Kansas and Kentucky

1260 Aviation Boulevard, Hebron, KY

DENVER, CO  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $20.35 million in acquisition financing for a portfolio consisting of two newly-built, 100-percent-leased, single-tenant industrial buildings totaling 643,386 square feet in Kansas and Kentucky. 

HFF worked on behalf of the borrower, a partnership between EverWest Real Estate Partners and Olympus Ventures, to arrange the seven-year, fixed-rate loan through a regional bank. 

The portfolio consists of 9525 Woodend Road in Edwardsville, Kansas, and 1260 Aviation Boulevard in Hebron, Kentucky. 

Completed in 2014, the Class A, 369,786-square-foot Woodend Road property is 100 percent leased to Alphabroder, a sportswear manufacturer. 

Eric Tupler

The one-building warehouse and distribution facility is a cross-docked building that is part of a two-building development in Edwardsville, a suburb less than 15 miles west of Kansas City, Kansas.  

Located on 23 acres, the asset is less than a mile from Interstate 435 and within five miles of Interstate 70, the primary east-west highway that connects Denver to St. Louis.

The one-building Aviation Boulevard property has 273,600 square feet and was completed in 2015.  One hundred percent leased to UPS Supply Chain Solutions, the Class A distribution center is situated on 16 acres in the Cincinnati suburb of Hebron.  

The property is less than three miles from the Cincinnati/Northern Kentucky International Airport and provides access to Interstate 275.

The HFF debt placement team representing the borrower was led by senior managing director Eric Tupler and real estate analyst Matt Gangaware. 

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.everwest.com.

HFF hires Scott Bales as managing director in its San Francisco office

                               

Scott Bales

SAN FRANCISCO, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced Scott Bales has joined its San Francisco office as a managing director focused on multi-housing investment sale transactions in the San Francisco Bay Area and Northern California. 

Mr. Bales has more than 25 years of experience in the commercial real estate industry with a particular focus on multi-housing investment sales.  He has closed more than $2 billion in transactions encompassing over 5,000 multi-housing units.  

For the past 10 years, he has been the president and owner of Atlas IREG, a commercial brokerage firm offering strategic financial services to multi-housing investment and development companies.

  Prior to that, he was a senior managing director at Insignia/ESG.  Mr. Bales is a member of the National Association of Real Estate Trusts (NAREIT) and the International Council of Shopping Centers.  He graduated from the University of Colorado at Boulder. 

“Scott brings with him a great deal of knowledge not only in multi-housing investment sales but on the development side of the industry as well with a background in site location, feasibility analysis and debt and equity placement,"  said Michael Leggett, senior managing director and co-head of HFF’s San Francisco office. 

 "His depth of experience combined with his wide network of relationships throughout the entire West Coast will provide a remarkable amount of value for HFF’s multi-housing clients throughout the 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

HFF New York announces continued growth to its capital markets team with hiring of Geoffrey Goldstein and Isaac Shabot

                           

Eric Anton

NEW YORK, NY  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has expanded its capital markets teams with the hiring of Geoffrey Goldstein and Isaac Shabot in its New York office.

Mr. Goldstein joins HFF as a director responsible for debt and equity placements in the greater New York City market with a particular focus on construction lending. 

He was a vice president at Helaba Bank for the past eight years where he was responsible for originating and underwriting more than $1 billion of commercial real estate loans as part of four-person team.

 While completing his MBA in Real Estate and Finance from Columbia Business School he interned at Forest City Ratner Companies and Sonnenblick Goldman Company.  

Mr. Goldstein also holds an MPA in Public Finance from Columbia University’s School of International and Public Affairs and a BA from Dickinson College. 

He is a member of Urban Land Institute and Young Real Estate Professionals New York and also sits on the board of Arbor Brothers, Inc. (a New York City-based philanthropic foundation). 

Mike Tepedino

Mr. Shabot will be an associate director focused on urban retail investment sales and development primarily in Brooklyn and Queens.

 He brings more than 10 years of real estate experience with him to this role and most recently worked as a retail leasing associate at Ripco Real Estate while pursuing his Masters in Real Estate from Baruch College.  

He began his commercial real estate career at Marcus & Millichap and has held positions at Prime Capital Advisors, LLC and United Equity Investments/Faded Glory Capital.

  Mr. Shabot is an ICSC member and also holds a Bachelor of Business Administration in Finance degree from Baruch College.

“The additions of Goldstein and Shabot provide proven expertise and a skill set in both construction lending and urban retail; two areas that we are continuing to expand upon in 2015 and which will allow us to better serve our clients,” said Mike Tepedino, senior managing director and co-head of HFF’s New York office.

“I have known Isaac for several years and look forward to helping him apply his expertise in the retail space to advance our clients’ objectives in the greater NYC market,” added Eric Anton, a senior managing director in HFF’s New York office.

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 400 North Belt in Houston, TX

400 North Belt, Greenspoint Office Submarket, North Houston, TX

HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of 400 North Belt, a 230,872-square-foot, Class A office project in Houston’s Greenspoint office submarket in north Houston.

Dan Miller

HFF marketed the property on behalf of the seller.  Hartman 400 North Belt, a subsidiary of Hartman Short Term Income Properties XX, Inc., purchased the asset for an undisclosed amount free and clear of debt.

400 North Belt is located at the southeast corner of the Sam Houston Parkway/Beltway 8 at Imperial Valley Drive equidistant between the Houston central business district and the Woodlands. 

The property is close to George Bush Intercontinental Airport as well as Interstate 45, The Hardy Toll Road and Interstate 69.  Originally built in 1982, the 12-story property has undergone more than $2 million in capital upgrades during the last 10 years.  

Building amenities include a deli, bank facility with drive through motor bank, and a fitness center planned to open in 2015.  400 North Belt is 64 percent leased.

The HFF investment sales team representing the seller was led by senior managing director Dan Miller and director Trent Agnew.  Dave Wheeler, Julian Kwok, CCIM and Russell Turman represented the buyer.

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 $63.5 million sale and arranges acquisition financing for downtown Bethesda, MD office building

Bethesda Office Center, 4520 East-West Highway, Bethesda, MD

WASHINGTON, D.C. – June 4, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and arranged acquisition financing for Bethesda Office Center, a 174,449-square-foot, Class A office building in downtown Bethesda, Maryland.

Jim Meisel

HFF marketed the property on behalf of the seller, AEW Capital Management, L.P.  AEW sold the property on behalf of one of its separate account investors.  

The buyer purchased the asset for $63.5 million and was assisted by HFF in securing the fixed-rate acquisition loan through JP Morgan Chase Bank, National Association. 

Bethesda Office Center is situated on a corner lot at 4520 East-West Highway at the intersection of East-West Highway and Waverly Street.

  This location is just one block from the Bethesda Metrorail Station and within close proximity to Woodmont Triangle’s numerous restaurants and the retail offerings at Bethesda Row. 

The HFF investment sales team representing the seller included senior managing directors Jim Meisel, Dek Potts, Andrew Weir and Stephen Conley as well as associate director Matthew Nicholson and senior real estate analyst Robert Jenkins.

HFF’s debt placement team was led by managing director Cary Abod and senior real estate analyst Robert Carey.

“This offering represented an exceptional opportunity to acquire a value-add, institutional quality, Class A office building in a highly sought after submarket,” said Meisel.  “We anticipate continued rental rate growth and increased leasing activity in Bethesda, which has historically been one of Washington, D.C’s strongest and most stable markets.”

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.aew.com.

HFF secures $15 million financing for grocery-anchored retail center in suburban Chicago

Main Street Marketplace, 2400--2438 Main Street,  Evanston, IL

 CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $15 million in financing for Main Street Marketplace, a 126,311-square-foot, grocery-anchored retail center in Evanston, a suburb north of Chicago.   

Amy Sands

HFF worked on behalf of the borrower, Kap-Sum Properties, LLC, an affiliate of Bond Companies, to place the seven-year, fixed-rate loan with a program managed by Ares Management LLC’s Real Estate Group. 

Anchored by Food 4 Less and Marshalls, Main Street Marketplace is 96.9 percent leased to Planet Fitness, Little Wok, Great Clips, Sarpino's Pizzeria, Wing Stop, LifeSource Bank and the Food 4 Less Fuel Station.  

Shadow-anchors Sam’s Club and Fifth Third Bank share the 546 surface parking spaces with the center’s tenants.

  The property is situated on 12 acres at 2400-2438 Main Street in Evanston, Illinois, at the southeast corner of Main Street and McCormick Boulevard. 

The HFF debt placement team representing the borrower was led by managing director Danny Kaufman and directors Amy Sands and Clinton Mitchell. 

 “It has been a pleasure working with the Bond Companies and Ares Management’s real estate lending team on this financing,” Kaufman said.  “Main Street Marketplace is a critical retail asset serving Evanston’s dense trade area.  The property is one of suburban Chicago’s best-performing grocery-anchored shopping centers.”

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.bondcompanies.com.

Multi Housing Advisors Arranges $13.9 Million Sale of Cary, NC Apartment Community

  

Marc Robinson

CHARLOTTE, NC — MHA has arranged the $13.9 million sale of the 137-unit Northwoods Townhomes, located at 411 Gregory Drive in Cary, North Carolina.

Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte, North Carolina, office represented the seller, QR Capital, in the transaction. The buyer was a New Jersey-based private investor.

“The Triangle apartment investment market continues to attract capital from both domestic and international investors, with offerings receiving tremendous interest,” Robinson said. 

“Northwoods Townhomes’ prime location and exceptional operating history should make this an excellent long-term investment for the new owner.” 

Amenities at Northwoods Townhomes include a state-of-the art fitness center, outdoor kitchen, Olympic-sized swimming pool and lighted tennis court. The property also offers desirable, spacious townhome floor plans.

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

Stephen Ursery

The Wilbert Group

404-549-7150 (O) 404-405-2354 (C)

sursery@thewilbertgroup.com

PKF Hospitality Research Issues Consistent U.S. Lodging Forecast

R. Mark Woodworth

ATLANTA, GA  – The outlook for the U.S. lodging industry continues to be extremely strong, according to the recently released June 2015 edition of PKF Hospitality Research’s (PKF-HR) Hotel Horizons® (PKF-HR is a CBRE company). 

The report forecasts that U.S. hotels will continue to enjoy revenue per available room (RevPAR) growth more than twice the long-run average (7.2 percent increase in 2015 and 6.8 percent in 2016). 

The slowdown in 2016 should not worry hoteliers because the growth in average daily room rate (ADR) will drive the increase in RevPAR, which ultimately is more profitable for hoteliers.

“I look back 90 days ago at our March 2015 forecasts and see that our expectations for hotel performance have not changed that much,” said R. Mark Woodworth, senior managing director of PKF-HR.  “The consistency of our forecasts is an indication that the U.S. lodging industry is now in that part of the business cycle where performance is highly predictable.”

 In March of 2015, PKF-HR forecast RevPAR growth of 7.3 percent for 2015 and 6.5 percent for 2016.

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

Lauralee@dalygray.com

True North Management Group Selects Lincoln Harris to Lease Two Office Buildings in Raleigh, NC

Kaler Walker

RALEIGH, NC — True North Management Group has selected Lincoln Harris to lease two office buildings in Raleigh: the 68,394-square-foot Interchange Plaza II, located at 801 Jones Franklin Road, and the 88,674-square-foot Centerview I, located at 5540 Centerview Drive.

Kaler Walker and John Mikels of Lincoln Harris’ Raleigh office will oversee leasing at the properties and the firm will retain the property management services.

“These office buildings offer prime locations in West Raleigh with convenient access to Interstate 40,” Walker said. “Both buildings feature updated common areas, and high parking ratios.

" With the new ownership and attention to detail, we anticipate high demand for the remaining spaces, and believe that with our large network we will be able to lease the space quickly.”

New York-based True North Management Group purchased the buildings from Archon Group, an affiliate of The Goldman Sachs Group Inc., for $19.1 million in late April.

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

Stephen Ursery

The Wilbert Group

404-549-7150 (O) 404-405-2354 (C)

sursery@thewilbertgroup.com