Renovation of Two Affordable Housing Communities Completed Near Tupelo, MS; WNC provided $3.3 million in LIHTC equity to fund renovations at Regal Ridge Apartments and Wisteria Apartments

Michael Gaber

Tupelo, MS, June 17, 2015 – WNC, a national investor in real estate and community development initiatives, announced today the completion of renovations to Regal Ridge Apartments, which offers 24 units of affordable housing, and Wisteria Apartments, offering 30 units of affordable housing, in the Tupelo suburb of Plantersville, Miss.

WNC provided approximately $3.3 million in low-income housing tax credit (LIHTC) equity to fund the renovation projects. 

“We are excited to help provide a much needed upgrade to the affordable housing offered to local families of Plantersville,” said WNC Executive Vice President and Chief Operating Officer Michael Gaber. 

“The rehabilitation of Regal Ridge Apartments and Wisteria Apartments will help to sustain and elevate the local rental housing supply.”

Regal Ridge Apartments is located at 200 Cedar St. and is comprised of 24 residential units divided between six buildings. Each of the two-bedroom units is equipped with a range, refrigerator, central air conditioning, ceiling fans, window blinds and ample storage space. Community amenities include onsite property management, laundry facilities, a computer center, gazebo and playground.

Herbert J. Peterson from CMS Real Estate Development and Chase Dudley from Barron Lane were the project developers. CMS Real Estate Development received the LIHTC financing to help fund the renovations.

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

HFF closes $22.5 million sale of office portfolio in Morristown, NJ

55 Madison Avenue, Morristown, NJ

FLORHAM PARK, NJ, June 17, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of a two-property medical office and office building portfolio totaling 128,000 square feet in Morristown, New Jersey.  The two properties within the portfolio are: 55 Madison and 101 Madison Avenue.   

Jose Cruz

HFF marketed the assets on behalf of the sellers, a joint venture of Ivy Realty and CenterSquare Investment Management.  Atlantic Health System, represented by Colliers International, purchased both buildings for $22.5 million free and clear of any existing debt.

55 and 105 Madison Avenue are located across from the Morristown Memorial Hospital about two miles from downtown Morristown and the Morristown train station, which provides access to New York’s Penn Station 25 miles to the east. 

The property has immediate access to Interstate 287 as well as close proximity to Interstates 80 and 280, and Routes 24, 10 and 202.  101 Madison is a 39,000-square-foot medical office building that was most recently renovated in 2008. 

55 Madison was updated in 2009 and consists of an 89,000 square-foot-office building.  Major tenants include Regus, Keller Williams, Fresenius Medical Care and BioReference Laboratories. 

The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn and real estate analyst Robert Borny.

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

Hold-Thyssen negotiates two lease agreements totaling 8,200 square feet at Edgewater Commerce Center in Orlando, FL

Theresa Margaris

WINTER PARK, Fla. --- The leasing team at Hold-Thyssen, Inc. recently negotiated two lease agreements totaling 8,200 rentable square feet of flex warehouse space representing the landlord Miami-based LNR Partners, LLC at Orlando’s Edgewater Commerce Center.

A textile importer leased 7,000 square feet at 6270 Edgewater Drive for five years.  Urban Pixel leased 1,200 square feet for two years at 6250 Edgewater Drive. 

Since the beginning of this year, the Hold-Thyssen Leasing Team has completed seven deals at this 64,350 square foot commercial flex space facility which is currently 78 percent occupied.

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

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

Rhodes+Brito Awarded Contract to Design Renovations for the Nemours Hospital Administrative Support Group in Lake Nona, FL

Ruffin Rhodes

ORLANDO, FL --- Rhodes+Brito Architects, based in Orlando, was recently awarded a contract to design a new office build-out of an existing four story building at Lake Nona.

Ruffin Rhodes, co-founder and partner at Rhodes+Brito, said the scope includes a complete interior fit out of the third floor of approximately 20,000 square feet and approximately 6,200 square feet of the fourth floor. 

The building is located at Lake Nona Town Center 6941 Lake Nona Blvd. Orlando.

Rhodes+Brito, which opened in Orlando in 1996, currently employs a staff of 20, including seven registered architects. The firm has exceptional experience providing architectural services to a wide variety of agencies thorough the state of Florida, including municipal government agencies, federal, education, aviation and senior living facilities.

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

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

Hold-Thyssen negotiates two lease agreements totaling 8,200 square feet at Edgewater Commerce Center in Orlando

Darby Hold

WINTER PARK, FL --- The leasing team at Hold-Thyssen, Inc. recently negotiated two lease agreements totaling 8,200 rentable square feet of flex warehouse space representing the landlord Miami-based LNR Partners, LLC at Orlando’s Edgewater Commerce Center.

A textile importer leased 7,000 square feet at 6270 Edgewater Drive for five years.  

Urban Pixel leased 1,200 square feet for two years at 6250 Edgewater Drive. 

Since the beginning of this year, the Hold-Thyssen Leasing Team has completed seven deals at this 64,350 square foot commercial flex space facility which is currently 78 percent occupied.

Hold-Thyssen Inc. is a real estate firm providing 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 407-644-4142 lvershelco@aol.com

NAI Realvest Negotiates Sale of 2,604 Square foot Office Building in Orlando, FL for $562,000

Jeff Bloom

ORLANDO, FL– NAI Realvest recently completed the $562,000 sale of an office building at 934 Lake Baldwin Lane in Orlando just north of Executive Airport.

Jeff Bloom, CCIM, senior director at NAI Realvest, brokered the sale of the 2,604 square foot building.  The property and surrounding area is zoned for commercial office.

Bloom said Buyer 934 Lake Baldwin Lane, LLC plans to use the facility to house a technologyservices firm. The Seller is Columbus, Ohio-based Baldwin Lane Studio.

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

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

Net-Leased CVS/Pharmacy in Lynn, MA Sells for $10.5 Million in Deal Arranged by Marcus & Millichap

CVS/Pharmacy, 47 Boston Street, Lynn, MA

 LYNN, MA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has arranged the sale of a 12,900-square-foot double-net-leased CVS/pharmacy in Lynn, Mass. The $10,539,783 sales price equates to $817 per square foot.

Laurie Ann Drinkwater

            Robert Horvath and Todd Tremblay, Marcus & Millichap vice presidents investments located in Boston, represented the seller. Laurie Ann (L.A.) Drinkwater, CCIM, vice president investments, also in Boston, and Seth J. Richard in Manhattan, procured the buyer.

            “CVS relocated to this site from an existing retail center located across the street,” says Horvath. “It’s a well-established location with strong demographics.”

            “The 25-year lease, signed in January 2014, has five five-year options and is guaranteed by CVS Caremark Corp.,” adds Drinkwater.

Built in 2014 and located at 47 Boston St. on the corner of North Bend Street and Boston Street, the property is close to downtown Lynn and 10 miles north of Boston.

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

Gina Relva

Public Relations Manager

(925) 953-1716

Villas at Dolphin Bay Whole Loan Sale in Carson City, NV Brokered by Marcus & Millichap

Villas at Dolphin Bay Apartments, 730 Silver Oak Drive, Carson City, NV

CARSON CITY, NV – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has arranged the sale of the whole loan secured by the three-story, 146,364-square-foot Villas at Dolphin Bay apartment complex in Carson City, Nev. The terms of the sale were not released.

Kenneth N. Blomsterberg

            Kenneth N. Blomsterberg, first vice president investments, along with Ryan Rife and Benjamin Nelson, all in Marcus & Millichap’s Reno office, brought about the whole loan sale.

“The seller, a New York City-based investment fund, engaged Marcus & Millichap to reach a broad national base of clients, both middle-market and institutional, who would be interested in an attractive yield for the appropriate risk profile of the whole loan,” says Blomsterberg.

“Approximately one dozen bidders were involved in the best and final round of offers. The top bidder produced an exceptional outcome that met the fund’s investment goals.”

            

Villas at Dolphin Bay, the asset secured by the whole loan, was built in 2006 on 5.3 acres at 730 Silver Oak Drive in Carson City, 1.5 miles from the Carson Tahoe Health Medical Center, near the new Interstate 580 on- and off-ramps and 30 minutes from Reno and Lake Tahoe.

The property is composed of two studio units, 48 one-bedroom/one-bath apartments, 48 two-bedroom/two-bath units, 24 two-bedroom/two-bath apartments and 12 three-bedroom/two-bath units.

Apartments feature nine-foot living room ceilings; large kitchens with full-size walk-in pantries, countertop bars, designer appliances; washers and dryers, and large patios and balconies. Community amenities include gated access, walking paths, mature trees, specialized outdoor lighting, an indoor pool, a year-round spa, a fitness center, detached garages, and a clubhouse.

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

Gina Relva

Public Relations Manager

(925) 953-1716

Marcus & Millichap Brokers $11.8 Million Sale of Vista Self Storage in Orlando, FL

Michael A. Mele

ORLANDO, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has negotiated the sale of Vista Self Storage, a 696-unit facility in Orlando for $11,801,000, according to Richard Matricaria, vice president and regional manager of the Tampa office.

The property sold at a sub-5 percent cap rate on a trailing income with adjustments for property taxes and management.

            Michael A. Mele, a senior director of the firm’s National Self-Storage Group (NSSG) based in Tampa, represented the seller, a Florida-based private client. Mele also procured the buyer of the property, Wesport Properties, Inc.

“With an exceptional location on Narcoossee Road in Orlando, this institutional-quality, state-of-the-art self-storage facility has all of the amenities today’s self-storage investors are seeking: a high-density location on a main thoroughfare with excellent accessibility, surrounded by a growing population base, which should fuel demand and steady rent increases over the long term,” says Mele. 

        Located at 6707 Narcoossee Road, developers built the 97,300-square foot Vista Self Storage in 2003, expanded it in 2005, and renovated the facility in 2014. The 696-unit self-storage asset is situated on nearly seven acres.

       “The steady flow of equity and debt into the self-storage sector, and expectations of a near-term rise in interest rates, point to a continued increase in transactions nationally throughout 2015,” says Richard Bird, national director of Marcus & Millichap’s NSSG.

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

Gina Relva

Public Relations Manager

(925) 953-1716

CBRE Capital Markets Arranges $12.75 Million Sale of Marbella Lakes Apartments in Orlando, FL

Luke Wickham

Orlando, FL – June 15, 2015 – Shelton Granade, Luke Wickham, and Justin Basquill of CBRE

Capital Markets arranged the sale of Marbella Lakes, a 200-unit apartment community in

Orlando, Florida.

The gated community, located at 1980 Lake Fountain Drive, was acquired from IMT Residential by Blue Rock Partners for $12.75 million. CBRE exclusively represented the seller in the transaction.

“Downtown Orlando is booming, and that growth has had a tremendous ripple effect on the

surrounding submarkets,” said Mr. Granade, Executive Vice President of CBRE Capital

Markets, Multifamily. 

”Marbella Lakes is just 10 minutes from downtown in a high-demand rental area, and is a prime candidate to add value through minor property upgrades to the unit interiors and amenities.”

Marbella Lakes was built in 1985, and has a current occupancy of 95%. The property is

conveniently located near the exclusive Mall at Millenia and Universal Studios Resort and

Theme Park. Community amenities include a fitness center, laundry facility, large clubhouse,

and a resort-style swimming pool.

Granade, Wickham and Basquill have closed more than $2 billion in multifamily sales in

Central Florida from 2013 to date.

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

Elizabeth Cross

305.428.6373

elizabeth.cross@cbre.com

Daniel Jimenez

407.839.3191

daniel.jimenez@cbre.com

Easton & Associates Brokers Sale of Multifamily Property on North Miami Beach, FL for $3.47 Million

David Olalde

DORAL, FL, June 17, 2015 — Easton & Associates arranged the sale of a 22-unit apartment building in the North Beach section of Miami Beach.

David Olalde of Easton represented the buyer, 7640 Carlyle Associates, LLC, who paid $3,470,000 for the property.  The buyer is a private investor from New York City that owns about 250 residential units in the metropolitan area.

 “My client already owns industrial assets in South Florida, so they asked if we could help them find apartments here since they’ve been priced out of New York City. We were able to locate a great property with a lot of upside in an area that is growing in popularity and where rents continue to rise.”

Olalde said the buyer plans on spending about a half million dollars to upgrade common areas and individual units. The apartment building is located at 7640 Carlyle Avenue.

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

Todd Templin

BoardroomPR

ttemplin@boardroompr.com

954-370-8999/954-290-0810

29th Street Capital Acquires Durham Apartments; Acquisition is Firm’s First in North Carolina

Seven Oaks Townhomes, 200 Seven Oaks Road, Durham, NC

Durham, NC – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, acquired the Seven Oaks Townhomes at 200 Seven Oaks Road in Durham, N.C. this month. The new owner plans $1 million worth of renovations for the 272-unit multifamily community.

David Berrien

“This is the first of many acquisitions we plan in the Carolinas,” said David Berrien, 29SC’s Vice President of Acquisitions for the Carolinas.

 “Seven Oaks is the only townhome-style community – which is popular with families – in the area. It’s also close to work, recreation and education centers in one of the fastest-growing areas of the U.S.”

Forbes calls The Raleigh-Durham/Chapel Hill area one of America’s best cities for Young Professionals. It grew by roughly half between 2000 and 2010, and ranked last year in the Top Five in the nation for job growth.

Seven Oaks is less than five miles from downtown Durham, and about 15 miles from Research Triangle Park, the state’s economic hub. 

It is in an excellent school district, near Eno River State Park, and convenient to the area’s best shopping venues. It is also within a few miles of Duke University, UNC-Chapel Hill and NC State University.

The community has been renovated within the past three years, and 29SC plans even more improvements. These include adding a fitness center, installing screen doors, and upgrading the exteriors and the pool area.

For investment  inquiries, contact:

Stan Beraznik, Founder and Managing Principal at 29th Street Capital

415.643.6875 | sberaznik@29thstreetcapital.com

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

Thornton Communications

p:404-932-4347 | e:Terri@TerriThornton.com | w:www.TerriThornton.com

http://www.facebook.com/pages/Thornton-Communications/112101288827299 http://twitter.com/Ttho http://www.linkedin.com/in/TerriThornton

www.29thstreetcapital.com.

Millennium Partners and Michael Mina to Introduce PABU Boston in New England

Chef Michael Mina

BOSTON, MA (June 17, 2015) – Millennium Partners, developer of award-winning projects in Downtown Boston and various cities in U.S., today announced that Michelin-starred, James Beard Award-winning chef Michael Mina and renowned sushi chef Ken Tominaga will bring their lively izakaya and sushi bar concept, PABU, to Boston as part of the highly anticipated Millennium Tower Boston development. 

Slated to open in Fall 2016, PABU will be Mina’s first venture in New England.

PABU Boston will be the second location of Mina and Tominaga’s acclaimed Japanese restaurant and sushi bar, which was awarded a place on San Francisco Chronicle’s Top 100 Restaurants List in 2015 and an impressive three-star rating from the newspaper’s restaurant critic, Michael Bauer. 

PABU was also designated as one of the Hottest Japanese Restaurants in the Country by Zagat in its first year of opening. 

Chef Ken Tominaga

The concept adds yet another dimension of flair and liveliness to the historic Downtown Crossing neighborhood.

 Mina’s presence will serve as a unique amenity for Millennium Tower Boston residents, who will have unrivaled access within their building to both PABU Boston and Mina at the Tower, a private restaurant, bar and club room exclusively for owners.

 The partnership represents the latest chapter in the long-standing relationship between Mina Group and Millennium Partners – Mina has been both a resident and restaurant operator (RN74) in Millennium Tower San Francisco for more than five years. 

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

Hwee Peng Yeo

Vice President, Asia Markets

Glodow Nead Communications

San Francisco • New York • Singapore • Shanghai

Level 21, Centennial Tower, 3 Temasek Avenue • Singapore 039190

Level 15, One Corporate Avenue, 222 Hubin Road, Shanghai China, 200021

1700 Montgomery Street, Suite 203 • San Francisco, CA • 94111

Asia: 65.9768.6087  US:415.394.6500 • E: hweepeng@glodownead.com

www.GlodowNead.com