HFF closes sale of and secures acquisition financing for industrial building with a long-term lease in Houston, TX

8787 Wallisville Road, Northeast Houston, TX

Rebecca Tudor

HOUSTON, TX, June 29, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and secured acquisition financing for 8787 Wallisville Road, a single-tenant, 126,821-square-foot industrial distribution facility 100 percent leased to Briggs Equipment in northeast Houston, Texas.

HFF arranged the sale of the property on behalf of the seller, Twinrose Investments.  TMT Wallisville Investments, LLP purchased the asset for an undisclosed amount. 

Additionally, working on behalf of the new owner, HFF arranged the 10-year, fixed-rate acquisition loan through Deutsche Bank and will service the securitized loan.

Located at 8787 Wallisville Road, the building has been occupied by Briggs Equipment, one of the oldest materials handling equipment producers in the U.S., via an absolute net lease since the building was completed in 1975. 

Renovated in 1995 and again in 2006, the facility has 28’ clear heights and 24 exterior doors, including 10 truck wells.  One third of the building has office finish in the mezzanine level, and there are 142 parking spaces. 

Trent Agnew

The facility is situated on a 10.1-acre tract in the southwest quadrant of the intersection of Interstate 610 (Houston’s north loop) and Highway 90, with frontage on both Highway 90 and Wallisville Road. 

Additionally, the asset is within six miles of multiple major transportation modes including Interstate 10; two rail yards, Union Pacific Englewood Yard and PTRA North Rail Yard; and the Houston Ship Channel.  

The HFF investment sales team representing the seller was led by senior managing director Rusty Tamlyn, director Trent Agnew and real estate analyst Wesley Hightower.

The HFF debt placement team representing the new owner was led by managing director Steve Heldenfels and real estate analyst Joe Lerer.

“Twinrose has worked with HFF on purchase, sale and financing transactions throughout its company history,” said Rebecca Tudor, principal of Twinrose Investments. 

“We are always pleased with the quality of the lenders and investors that HFF introduces to a transaction as well as the professionalism of the debt and investment sales teams from marketing and underwriting, to closing.”

     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.twinroseinvestments.com.

HFF closes sale of 5-building, Class A industrial portfolio in El Paso and Harlingen, TX

    

El Paso, TX industrial properties

Randy Baird

 DALLAS, TX, June 29, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of a five-building, Class A industrial portfolio totaling 758,715 square feet in El Paso, Texas, and 144,000 square feet in Harlingen, Texas.

HFF marketed the portfolio on behalf of the seller, Prologis, Inc.  The assets were purchased by Sealy & Company, sponsor of Sealy Strategic Equity Partners (SSEP), for an undisclosed amount.

The four El Paso properties consist of Vista Del Sol III Building I, 950 Loma Verde Drive; Vista Del Sol Buildings 7, 1350 Pullman Drive, and 8, 1430 Henry Brennan Drive; and Vista Corporate Center Building 5, 1211 Henry Brennan Drive.

 The properties are grouped together in El Paso’s East industrial submarket at the convergence of the Interstate 10 and Loop 375 interchange, less than five miles from the Ysleta Port of Entry at the U.S.-Mexico border and approximately 11 miles from El Paso International Airport.

 Built between 1997 and 2001, the buildings are 100 hundred percent leased to six tenants and have between 22’ and 24’ clear heights and a low office finish averaging 7.5 percent. 

Jud Clements

The Harlingen facility is located at 1805 North Loop 499 in Harlingen, a south Texas community in the heart of the Rio Grande Valley, 256 miles south of San Antonio.

 With immediate access via Loop 499 to Interstates 77 and 80, the facility is 13.5 miles from the Free Trade Bridge passing into Mexico and one mile from Valley International Airport.  The one-building distribution facility has a 24’ clear height.

The HFF investment sales team representing the seller was led by senior managing director Randy Baird, managing director Jud Clements, director Robby Rieke and real estate analyst Stephen Bailey.

     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.sealynet.com.

www.prologis.com.

HFF closes sale of medical group-anchored retail center in San Antonio, TX

Crown Meadows Shopping Center, 7614-7616 Culebra Road, San Antonio, TX

Rusty Tamlyn

HOUSTON, TX – June 29, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Crown Meadows Shopping Center, a 52,732-square-foot retail center anchored by a medical group in San Antonio, Texas. 

HFF arranged the sale of the property on behalf of the seller, Culebra-Crown Meadows, Ltd., an affiliate of Carmichael Development Company.  CJ Park and Associates purchased the asset for an undisclosed amount.

Crown Meadows Shopping Center is 92.1 percent leased to medical office, retail and restaurant tenants including anchor-tenant Gonzaba Medical Group, Baptist Health System, W Dental Group, Fast Eddie’s Billiards, Supercuts and Umberto’s Italian Grill.

 The two-building center includes 240 parking spaces on its 4.55 acres.  Located at 7614-7616 Culebra Road in northwestern San Antonio, Crown Meadows Shopping Center is at the signalized intersection of Culebra and Ingram Roads with daily traffic counts exceeding 46,000 vehicles. 

The HFF investment sales team representing the seller was led by senior managing director Rusty Tamlyn, managing director John Taylor, associate director Matt Berry and real estate analyst Robbie Kilcrease.

         

     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 $3.2 Million Sale of 57-Unit Charter House Apartments in St. Petersburg, FL

Casey Babb

ST. PETERSBURG, FL,  June 29, 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 Charter House Apartments, a 57-unit apartment property located in St. Petersburg, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $3,200,000.

Casey Babb, CCIM and vice president investments, and Luis Baez, associate, in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. 

Charter House Apartments is a 1960s vintage garden community located at 3435 3rd Avenue North in St. Petersburg, Florida.

The property consists of one, three-story building constructed of concrete block with flat, built-up roofs and offers a mix of one-bedroom/one-bath and two-bedroom/one-bath units averaging 737-square feet.

Luis Baez

Units feature semi-private entries, central heat and air-conditioning, private sunrooms, vinyl or tile coverings in wet areas with carpet in bedrooms, walk-in closets and re-finished bathrooms.

Charter House presented investors with the opportunity to acquire a well-located, stabilized multifamily asset with value-add potential, and was sold free and clear of the existing debt allowing the buyer to take advantage of extremely attractive long-term financing options.

 The property has received over $100,000 in improvements including landscaping, irrigation system upgrades, parking lot resurfacing/restriping, interior corridors and laundry room makeovers, upgrades to the elevator and numerous interior renovations.

“Charter House received good interest in the marketplace due to its location in the up and coming Kenwood submarket just west of downtown St. Petersburg.  

"The buyer was a very experienced investor out of New York who was making his initial purchase in the area to satisfy a 1031 exchange.  The seller achieved 100 percent of our asking price which was a 28 percent premium over his 2011 purchase price,” 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

   

HOPE NOW and RealtyTrac Announce Partnership to Co-Sponsor Regional Housing Roundtables

 

St. Louis Mayor Francis Slay

WASHINGTON, DC, June 29, 2015 – The HOPE NOW Alliance and RealtyTrac have announced a partnership for the remainder of 2015 to co-sponsor regional housing roundtables in selected U.S. cities.

 The first one of these co-sponsored sessions will take place in Cleveland, Ohio on June 30.

The housing roundtables present an opportunity for the mortgage industry to collaborate with local non-profits, elected officials, community leaders and other housing stakeholders with the goal of formulating sustainable housing solutions and community stabilization initiatives.

At the St. Louis Housing Roundtable in June, Mayor Francis Slay remarked, “Even though the housing crisis has subsided overall, neighborhood stabilization is still a top priority. It is important for us to continue to find ways to keep families in their homes and kids in school. The city has many tools at its disposal to achieve these goals and we will continue to work with all of the organizations here today.”

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

Ginny Walker

Office: 949.502.8300 ext. 268

Mobile: 323-317-5852  

ginny.walker@realtytrac.com

Arbor Appoints Daniel Kenny as EVP and Chief Asset Manager, Servicing and Asset Management

Daniel Kenny

UNIONDALE, NY (June 29, 2015) - Arbor Commercial Mortgage, LLC (“Arbor”), a national, direct commercial real estate lender, today announced the appointment of Daniel Kenny as Executive Vice President and Chief Asset Manager, Servicing & Asset Management.

Dan joined Arbor in 2011 as a Senior Vice President to assist with the creation of a Credit Risk Management Department and has since then expanded his contributions across several departments and business operations. 

In his new role, Mr. Kenny will continue to report to John Natalone, Arbor’s Executive Vice President, Treasury and Servicing.

Ivan Kaufman, Arbor’s Chairman and CEO, commented, “Dan has done an outstanding job expanding and developing a very talented and effective team that comprises Arbor’s comprehensive servicing area.

" From Asset Management, Credit Risk Management, Servicing Operations and Portfolio Management, Dan has done a terrific job integrating the various disciplines that oversee Arbor’s more than $11-billion portfolio.”

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

Christopher Ostrowski

costrowski@arbor.com