HFF secures $345 million in financing for Charles River Plaza North adjacent to Massachusetts General Hospital in Boston

Charles River Plaza North, 185 Cambridge Street, Beacon Hill Neighborhood, Boston, MA

BOSTON, MA, July 13, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $345 million in first mortgage and mezzanine financing for Charles River Plaza North, a 354,594-square-foot, state-of-the-art office/research building adjacent to and long-term leased by Massachusetts General Hospital (MGH) in Boston, Massachusetts.

Riaz Cassum

HFF worked on behalf of the borrower, The Davis Companies and Marcus Partners, Inc., developers and owners of the property, to secure a $245 million, fixed-rate loan with UBS and a $100 million mezzanine loan with TIAA-CREF. 

Loan proceeds will be used to refinance an existing loan HFF arranged for the borrower in 2007. 

Charles River Plaza North is located at 185 Cambridge Street within the larger 630,000-square-foot Charles River Plaza mixed-use development adjacent to the campus of MGH in Boston’s Beacon Hill neighborhood.

 This location is across the Charles River from the Massachusetts Institute of Technology and Harvard University and is convenient to mass transit with an MBTA red line station about three blocks away.

 Completed by the current ownership in 2005, Charles River Plaza North is leased in its entirety to The General Hospital Corporation, the parent of MGH and subsidiary of Partners Healthcare System. 

Additional tenants within the development include Whole Foods, CVS and the Schepens Eye Institute.  Charles River Plaza North is used as a lab/research facility with five distinct research teams each occupying a floor of the building – the Center for Systems Biology, the Center for Regenerative Medicine, the Center for Computational and Integrative Biology, the Wellman Center for Photomedicine and the Center for Human Genetic Research.

The HFF debt placement team representing the borrower was led by senior managing director Riaz Cassum. 

“HFF has had a long history with Charles River Plaza and was involved in securing both the original construction financing for the project in 2003 as well as the permanent loan in 2007,” said Cassum.  “We are extremely proud to be involved with such a world class project that represents Boston’s strong presence in the field of medical research.”

  

 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

http://www.marcuspartners.com.

http://www.thedaviscompanies.com/.

HFF closes $42.25 million sale of multi-anchor retail center near coastal New Jersey

  

Lori Schwartz

FLORHAM PARK, NJ, July 13, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $42.25 million sale of Manahawkin Commons, a 318,100-square-foot, multi-anchor retail center with future additional development potential in Manahawkin, New Jersey.

HFF marketed the property on behalf of the seller, ACI Manahawkin LLC.  The Hampshire Companies, a full-service, private real estate investment firm, purchased the asset in a joint venture with MCB Real Estate, LLC and One Liberty Properties, Inc.

 Mitchell Greene, Robert Sasloff and Lori Schwartz of Robinson Brog Leinwand Greene Genovese & Gluck P.C. provided legal counsel to ACI Manahawkin LLC during the transaction.

 Anchored by Kmart, T.J.Maxx and Regal Cinemas, the 95-percent-leased Manahawkin Commons is home to a variety of national and regional tenants including Staples, Michaels, Pier One, Famous Footwear, Great Clips, Five Below, McDonald’s, Verizon Wireless, Game Stop, Subway and Dunkin Donuts. 

Additionally, the site has preliminary approval for three proposed pad sites approximately 12,500 square feet.  

Situated on 48 acres at Washington Avenue and Route 72, a retail corridor with an average daily traffic count of 50,000 vehicles, the center is the first retail destination off of the Garden State Parkway at exit 63 on the way to Long Beach Island, an affluent beach resort town on New Jersey’s central coast.

Jose Cruz

The HFF investment sales team representing the seller was led by senior managing director Jose Cruz and managing director Kevin O’Hearn.

“There was a significant amount of interest in this property given the current tenant base and potential upside,” said Cruz.

 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

Capital Square Realty Advisors Completes DST Offering of Healthcare Building Portfolio in Virginia and Wisconsin

  

Louis Rogers

RICHMOND, Va. (July 13, 2015) – Capital Square Realty Advisors, LLC announced today that its Delaware Statutory Trust investment offering, MOB Portfolio II, DST, comprised of two healthcare-related buildings in the Richmond suburb of Mechanicsville, Va. and the Milwaukee suburb of Hartford, Wis., has been fully subscribed by investors.

“Demand for healthcare services continues to grow at a historic pace, making healthcare real estate assets such as these, both fully leased to strong tenants in excellent locations, especially attractive,” said Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors.

 “We are thrilled to complete this DST investment offering and continue to provide our investors the opportunity to own investment grade medical properties like these using the DST structure. This is the 14th DST offering to be fully subscribed by investors.” 

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

                                       

Rosano Partners: Lenders Loosen Reins on Urban Multifamily Product

Sigiv Rosano

LOS ANGELES, CA (July 13, 2015) – In a market that is flooded with capital for large acquisitions, Rosano Partners, a firm that specializes in urban commercial real estate, is proving that multifamily lending has also re-emerged in niche, urban markets.

“The brutal truth is that it has typically been very difficult to secure competitive financing for small apartment projects in diverse, urban neighborhoods,” says Sagiv Rosano, Founder and President of Rosano Partners.

 “Today, however, lenders are becoming much more aggressive, especially in multifamily product.  With a default rate of only .05% or lower, the appetite for multifamily is insatiable, and we are seeing an emergence of finance providers ready to lend in these small, niche neighborhoods.”

Rosano Partners, a full-service commercial brokerage, recently arranged financing for three apartment projects in diverse Los Angeles neighborhoods.

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

Jenn Quader

Brower, Miller & Cole

(949) 955-7940

jquader@browermillercole.com

   www.rosanopartners.com.

  

Related Midwest Announces Opening of Kanela Breakfast Club at 500 Lake Shore Drive in Chicago, IL

Curt Bailey

                                                    CHICAGO, IL (July 13, 2015) – Related Midwest today announced that Kanela Breakfast Club, a contemporary breakfast-and-lunch concept, has opened at 500 Lake Shore Drive, the developer’s ultra-luxury apartment tower in Streeterville.

The restaurant, Kanela's fourth location in Chicago, welcomed its first customers Monday morning.

The 2,500-square-foot eatery, owned by BNY Mellon Wealth Management Senior Director Alexi Giannoulias and restaurateur Chris Lardakis, features a sweet and savory menu created by Executive Chef Don Penza, with seasonal brunch favorites and Greek specialties made in-house with locally sourced and organic ingredients.

“Kanela Breakfast Club is the perfect addition to 500 Lake Shore Drive, complementing the building’s existing suite of lifestyle amenities,” said Curt Bailey, president of Related Midwest.

“Our company is invested in the long-term success and vitality of the Streeterville neighborhood, and we felt it was important to partner with a business that would benefit not only our residents, but the entire Streeterville community.”

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

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

Kim Manning, kmanning@taylorjohnson.com,(312) 267-4527

Emerson International closes New Leases for office space totaling over 8,400 rentable square feet at three of its Local Office Developments in Central Florida

Zac Starkey

Altamonte Springs, FL -- Emerson International recently closed five leases for office space totaling more than 8,400 rentable square feet at its office centers in Longwood, Altamonte Springs and Winter Park. 

Leasing Associate Zac Starkey represented Emerson in a lease agreement with The Alzheimer’s Association of Central Florida who expanded into more than 3,300 square feet in Sanlando Center II located at 2180 W. State Road 434 in Longwood. 

Starkey also negotiated three lease agreements for Class A office space that totals more than 4,000 square feet at Emerson’s CenterPointe Office Park, 370 CenterPointe Circle in Altamonte Springs.

 New leases were signed with commercial contractor Wharton Smith, real estate broker / investor Mahendra Samaroo, and L’Eviel, a privately owned and operated massage and wellness firm serving Orange and Seminole counties since 2009.

In Winter Park, Starkey negotiated a lease with Tenant Attaining Balance, Ltd. a life coach and counseling firm that doubled its space now leasing 1,100 square feet in Emerson’s Louisiana Office Park located at 1177 Louisiana Ave.     

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

Hold-Thyssen negotiates Six Leases totaling over 10,200 Rentable Square Feet at Pennock Business Center in Jupiter, FL

                                     

Therese Taylor

JUPITER, FL and  WINTER PARK, FL -- Hold-Thyssen, Inc., a commercial property firm based in Winter Park, recently negotiated six leases for office/warehouse/flex space totaling 10,272 rentable square feet at Pennock Business Center, 711 Commerce Way in Jupiter.

Therese Taylor, broker associate at Hold-Thyssen, represented the Miami-based landlord GECMC 2005 and completed the following lease agreements:

Palm Beach Paw Spa renewed its lease of 4,500 square feet; Powerline of South Florida renewed its lease of 3,000 square feet; Christian Thomas Construction renewed two 693-square foot warehouses;   An individual and LJW & Associates each leased a 693 square foot warehouse

Hold-Thyssen, Inc. 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

Marcus & Millichap Arranges $3.9 Million Sale of 105-Unit Raintree Oaks Apartments I and II in Tampa, FL

Francesco P. Carriera

TAMPA, FL,  July 13, 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 Raintree Oaks Apartments I & II, a 105-unit apartment property located in Tampa, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $3,937,500.

Francesco P. Carriera and Michael P. Regan, both vice president investments, and Joshua Teplitzky, associate, all in Marcus & Millichap’s Tampa office, along with Felipe J. Echarte, vice president investments, and Alejandro Gonzalez, associate, both in the firm’s Fort Lauderdale office had the exclusive listing to market the property on behalf of the seller, a private investor.

The buyer was secured and represented by Joshua Teplitzky, Francesco P. Carriera, and Michael P. Regan. 

Raintree Oaks Apartments is a 105-unit, fractured-condominium multifamily community located at 12708 English Hills Court in Tampa, Florida. The buildings are comprised of all two-bedroom/one-bathroom units and amenities include washer and dryer connections in the larger units, an on-site laundry facility and a swimming pool.

Michael P. Regan

The property is located in northeast Tampa just a few blocks north of Fowler Avenue and one-half mile from University of South Florida, which is home to over 47,000 students and 16,000 employees.

Also in close proximity to Raintree Oaks Apartments are renowned medical facilities including Moffitt Cancer Center, James A. Haley Veteran’s Hospital and Florida Hospital.

“This transaction represented a fractured-condominium sale in which 105 out of the 116 total units were sold under single ownership,” said Teplitzky.

“The property’s cap rate was sub seven percent on trailing financials and we generated ten offers throughout the marketing timeframe. This transaction was another example of the pent up demand for 1980’s constructed assets in the Tampa Bay area,” he concluded.

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

                                    

Richard D. Matricaria

Vice President/Regional Manager

Tampa, FL

(813) 387-4700

Maury L. Carter & Associates, Inc. announces transactions in Florida totaling over $20 million since June 1

Maury L. Carter (left) and son Daryl M. Carter

ORLANDO, FL -- Daryl M. Carter, Trustee of Carter-Lake Hart Land Trust, sold approximately 11 acres on the west side of Narcoossee Road in Orange County, Florida.

The property was sold to John Young Station, LLC for $1,956,000 cash. Daryl M. Carter with Maury L. Carter & Associates, Inc. represented the seller and John Reich with Reich Properties, Inc. represented the buyer.

 Daryl M. Carter, Trustee of Carter-Orange Ward Road Land Trust, purchased approximately 15 acres on the west side of Ward Rd in Orange County, Florida. The property was acquired from Charles W. Stowers, et al. for $920,000 cash.

Rosa Holloway

Daryl M. Carter and Dana Stanley with Maury L. Carter & Associates, Inc. represented the buyer, and Rosa Holloway with M and N Holloway Realty, Inc. represented the seller.

Daryl M. Carter, Trustee of Carter-Orange Round Lake Road Land Trust, purchased approximately 22 acres west of Round Lake Rd in Orange County, Florida. The 22 acres were acquired from Susan K. Bird, Carrie Radmann and Brett Radmann for $300,000 cash.

 Daryl M. Carter with Maury L. Carter & Associates, Inc. represented the buyer, and Jason Toll with Realvest Equity Partners, LLC represented the seller.  

Daryl M. Carter and Scott Crossman, principals of Belle Isle Commons, LLC, sold an 82,093 sf shopping center with a Starbucks outparcel located at 5120 Conway Road in Orange County, Florida. The shopping center was sold to SJS Belle Isle Commons, LLC for $11,500,000.

 Mark Thompson with Crossman and Company represented the seller in the transaction.

John Evans of Maury L. Carter & Associates, Inc. represented the buyer in the $2,450,000 acquisition of approximately 433 acres of citrus grove land in Manatee County, Florida. Dan Fields of Mid-State Realty represented the seller.

Mark Thompson

Daryl M. Carter of Maury L. Carter & Associates, Inc. represented the seller in the $3,100,000 sale of approximately 30 acres at Progress Blvd and Falkenburg Rd in Hillsborough County, Florida. Florida Executive Brokers, LLC represented the buyer in the transaction.

Maury L. Carter & Associates, Inc. represented the seller in the $210,000 sale of 2.94 acres near Orlando International Airport, on the SE corner of Patch Rd and Hoffner Rd in Orange County, Florida.

Since January of 2012, Maury L. Carter & Associates, Inc. has completed over $143,000,000 in transactions on 15,178 acres of land.

Maury L. Carter & Associates, Inc. is an Orlando-based full service commercial real estate firm proficient in commercial real estate investments, asset management, brokerage, and development. The firm's officers combine more than 75 years’ experience in real estate investments and brokerage.

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

 Maury L. Carter & Associates, Inc.

3333 S. Orange Avenue, Suite 200, Orlando, FL 32806

407-422-3144

www.maurycarter.com

Arbor Approved as Fannie Mae Seniors Housing DUS Lender

Phyllis Klein

UNIONDALE, NY (July 13, 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 that is has been named a Fannie Mae Seniors Housing Delegated Underwriting and Servicing (DUS®) lender.

This designation will now allow Arbor to directly offer its clients some of the best fixed- and variable-rate loan products available in the seniors housing and healthcare market.

“Having worked with Arbor for two decades on conventional multifamily, we are pleased to have the company now offering our highly competitive Fannie Mae Seniors Housing product to investors across the country,” said Phyllis Klein, Fannie Mae’s Vice President of Borrower Relationships, Structured Transactions and Seniors Housing.

“We look forward to seeing Arbor bring our customized and flexible financing solutions to its seniors housing clients.”

 Already widely known as a long-standing Top 10 Fannie Mae DUS Multifamily Lender by volume and the Top Fannie Mae Small Loan Lender for 2014, Arbor is now one of only 17 Fannie Mae Seniors Housing lenders in the market that can offer market-leading, non-recourse financing for independent living, assisted living and Alzheimer’s/Dementia Care facilities.

Ivan Kaufman

Arbor’s new Fannie Mae Seniors Housing platform will also further enhance the capabilities of the company’s dedicated Seniors Housing & Healthcare Finance group, which is already uniquely positioned to offer investors a seamless, one-stop-shop financing experience complete with bridge and FHA seniors housing loans as well.

 “Obtaining our Fannie Mae Seniors Housing approval is a reflection of the expertise and experience inherent within Arbor’s Seniors Housing & Healthcare Financing group, our overall commitment to growing our Seniors Housing & Healthcare platform’s offerings and our strong, long-standing relationship with Fannie Mae,” explained Ivan Kaufman, Arbor’s Chairman and CEO.

“I look forward to providing our clients with the best financing available in the seniors housing and healthcare market, including an array of loan options rarely seen in the business.”

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

 Christopher Ostrowski

Costrowski@arbor.com

Inaugural 2015 ISHC The Lori Raleigh Award for Emerging Excellence in Hospitality Consulting

Lori Raleigh

Atlanta, GA (July 13, 2015): The International Society of Hospitality Consultants (ISHC) today announced the formation of The Lori Raleigh Award for Emerging Excellence in Hospitality Consulting. 

The award is named in honor of Lori Raleigh, founder of The Travers Group, who served as the Executive Director of ISHC from 2000 to 2013.

 “Lori Raleigh is the consummate hospitality consultant and a huge proponent of fostering the next generation, making her the perfect embodiment of an award recognizing new and emerging talent in our industry,” said Award Committee Chair Kristie Dickinson, senior vice president, CHMWarnick.

“This honors both her contributions to the society and her unwavering commitment to educating and mentoring young hospitality professionals.”

Nominations are now being accepted for the inaugural award, which will be presented at the ISHC Annual Conference 22-24 October 2015 in Berlin, Germany.

 The award winner will have the opportunity to attend the invitation only event and to become an Associate Member with the Society.  The deadline for submissions is 5 August 2015 midnight GMT.

Candidates for The Lori Raleigh Award must be 35 years of age or younger and have five years’ experience in a hospitality-related field with a minimum of three years of specific hospitality consulting experience. 

They must also be recognized by leaders within their company or other industry constituent familiar with their work as an exceptional example of a future leader within the field of hospitality consulting. 

At the time of nomination a candidate must be working for a company that provides third party consulting or advisory services to the hospitality industry and be actively involved or responsible for providing advisory services to clients of the firm (e.g., hospitality consulting firms, third party asset managers, architects, designers, food and beverage consultants, hospitality lawyers, purchasing companies, etc.).

Kristie Dickinson

As a long-time advocate for continuing education in the hospitality consulting field, Raleigh has contributed to two of the industry’s most influential texts.

  She is the co-author of Hotel Investments: Issues & Perspectives, currently in its fifth edition, and co-editor and contributing author of ‘Hotel Asset

  

Management: Principles and Practices,’ currently in its third edition. 

  Raleigh is a big proponent of supporting emerging talent and is perhaps best known for her collaborative, creative and enthusiastic leadership legacy, making a positive impact on the hospitality industry.

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

 Karla Smith

 Director Membership Services

Email: ksmith@ishc.com

Phone: 404-542-0159

www.ishc.com.

www.ishc.com/awards.