Marcus & Millichap Negotiates $12.5 Million Sale of Net-Leased Department Store in Eau Claire, WI

Glen Kunofsky

EAU CLAIRE, WI,  July 27, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, is pleased to announce the sale of a net leased department store at 955 West Clairemont Avenue. 

The sales price was $12,453,482, which at 94,705 square feet, equates to $131 per square feet.

            The listing agent was Glen Kunofsky in the firm’s Manhattan office. Kunofsky also procured the buyer. The Wisconsin broker of record is first vice president investments Matthew Fitzgerald.

            “This Shopko property provides investors with additional income stability in the future and has roughly 20 years remaining on a triple-net lease entered into on June 1, 2006,” says Kunofsky.

            The building was originally built in 1978 and was renovated in 1992. This Shopko retail store sits on approximately 9.05 acres of land, with a location that benefits from a rent per square foot that is well below market.

Headquartered in Green Bay, Wis., Shopko Stores Operating Company LLC is a $3 billion retailer that operates more than 330 stores in 21 states.

  

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

Gina Relva

Public Relations Manager

(925) 953-1716

NAI Realvest Negotiates $925,000 Sale of Three Building Industrial Park in Altamonte Springs, FL

  

Jeff Bloom

ALTAMONTE SPRINGS, FL and MAITLAND, FL – NAI Realvest recently negotiated the $925,000 sale price for the three industrial buildings totaling 17,500 useable square feet building at 865, 871 and 875 Sunshine Lane in Altamonte Springs. 

Jeff Bloom, CCIM, senior director at NAI Realvest, negotiated the transaction representing the seller, Terry D. DeBruyn and Edwin P. Young, Co-Trustees of the Bigley Revocable Trust based in Skandia, MI.  

     Orlando-based Mesar LLC is the buyer of the property and was represented by Barry Carnes of Premium Properties Real Estate Services. 

In other business, Bloom brokered the sale of an office condominium with 1,431 useable square feet at 331 N. Maitland Ave. in Maitland.  Buyer Marble Oak Properties paid $193,000 for the property. The sellers are Grey and Patricia Wilson of Lake Mary.

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

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

   

HFF arranges $44 million refinancing for retail condominium in Manhattan’s Chelsea neighborhood

611 Avenue of the Americas, Chelsea Neighborhood, Manhattan, NY

NEW YORK, NY, July 27, 2015 -- Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a $44 million refinancing for a 100-percent-leased retail condominium located at 611 Avenue of the Americas in Manhattan’s Chelsea neighborhood.

Jennifer Keller

Working on behalf of Gerald Brauser and Steven Brauser of The Parkland Group, HFF secured the 15-year, fixed-rate, non-recourse loan through Allianz Real Estate of America, Inc. on behalf of the US Allianz insurance companies.

The retail condominium is located at the base of a 10-story luxury residential property developed by The Parkland Group in 2008 and designed with floor-to-ceiling glass windows by architect Garrett Gourlay.

 In addition to three retail spaces, the building contains 41 luxury residences that were not included in the financing.  

The retail condominium totals approximately 30,000 square feet and is leased to three tenants – Chase Bank, Duane Reade and Modell’s Sporting Goods. 

Situated on the southwest corner of Avenue of the Americas (also known as Sixth Avenue) and West 18th Street, the property is in the Midtown South submarket and in the heart of Chelsea, a live-work-play mixed-use neighborhood. 

Rob Rizzi

The property is accessible via multiple subway stops within walking distance, including the 1,2, 3, 4, 5, A,C, E, F, L, M, N, Q and R lines.

 The HFF debt placement team representing the borrower was led by managing director Rob Rizzi and director Jennifer Keller.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF arranges financing for Class A multi-housing asset in suburban Houston, TX

  

Preserve at Colony Lakes Apartments, 1000 Farrah Lane, Stafford, TX

  

HOUSTON, TX, July 27, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged fixed-rate financing for Preserve at Colony Lakes, a 420-unit, Class A multi-housing community in Stafford, Texas.

Cortney Cole

HFF worked on behalf of the borrower, Venterra Realty (Venterra), to secure the seven-year, 3.22 percent, fixed-rate loan with a life company correspondent lender.  Loan proceeds were used to acquire the asset. 

Preserve at Colony Lakes was completed in 2004 and is located at 1000 Farrah Lane near the convergence of U.S. Highway 59 and State Highway 90 in Houston’s Stafford/Sugar Land submarket. 

The property is approximately 20 miles southwest of downtown Houston and offers one-, two- and three-bedroom floor plans.

 The 93-percent-leased community features two swimming pools with hot tubs and sundecks, a state-of-the-art fitness center, barbecue/picnic area, clubhouse, recreation room with billiards, business center and garage/covered parking. 

The HFF debt placement team representing the borrower was led by director Cortney Cole.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

The Habitat Company Awarded Management of New Mixed-Use Development in Chicago’s Bronzeville Neighborhood

  

Sheila Byrne

CHICAGO, IL (July 27, 2015) – The Habitat Company, a leading multifamily property developer and manager in the United States, announced it has been awarded the property management contract for Park Boulevard IIB, a 108-unit, mixed-use development in Chicago’s Bronzeville neighborhood.

Park Boulevard IIB is the second phase in a four-phase project funded by the Stateway Gardens HOPE VI Grant, a program created by the federal government that provides cities with funds to replace dilapidated public housing with newly built mixed-income communities. 

Park Boulevard IIB is part of an effort led by the City of Chicago to revitalize south State Street and the Bronzeville neighborhood, providing residents with economic growth opportunities and increasing area marketability.

“This assignment reinforces The Habitat Company’s enduring commitment to provide a superior level of service at all the properties we manage,” said Sheila Byrne, executive vice president of property management at Chicago-based The Habitat Company. 

“We’re so proud to be involved with Park Boulevard IIB and honored to have the opportunity to promote positive change and make a lasting impact on the Bronzeville neighborhood.”

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

Cara Mooses, cmooses@taylorjohnson.com, 312.267.4523

Kim Manning, kmanning@taylorjohnson.com, 312.267.4527

Waterton Associates Acquires Sunset Plaza Apartments in Southern California

  

CHICAGO, IL, July 27, 2015 – Waterton Associates LLC, a U.S. real estate investor and operator, today announced the acquisition of Sunset Plaza, a 183-unit rental community in Southern California’s San Gabriel Valley.

Located in West Covina, approximately 20 miles east of downtown Los Angeles, the five-building community includes a mix of studio, one-, two- and three-bedroom apartments with spacious condo- and townhome-style floor plans. On-site amenities include two outdoor pools, a fully equipped fitness center, resident clubhouse with business center, and a children’s playroom.

“We are actively scouting investment opportunities throughout Southern California, and the lack of multifamily development in and around West Covina over the past decade, along with projected population growth in the area, made this off-market transaction especially attractive,” said Mark Stern, senior vice president of acquisitions at Waterton Associates.

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

Steven Fischler's SRF Ventures Nears $1 Billion in Transactions

Steven Fischler

New York, NY — With a strong client base that includes prominent developers and investors in major metropolitan markets including New York and South Florida, Steven Fischler's SRF Ventures is on the verge of facilitating more than $1 billion in real estate financing and equity transactions in less than four years.

At just 33 years old, Fischler is a rising star in the real estate and financial industry. The former Lehman Brothers executive launched his boutique real estate advisory and management firm in January 2012.

Since then, SRF Ventures has worked on condo, multifamily, retail, office, hospitality and land deals nationwide. The firm's notable clients include Ladder Capital, Property Markets Group, Waramaug Hospitality and Interstate Hotels and Resorts.

SRF Ventures arranges loans and equity partners for real estate sponsors and developers. Additionally, the firm makes direct real estate mortgage loans, mezzanine loans and preferred equity investments of up to $15 million. It offers project and asset management services to financial institutions that own real estate but do not have in-house portfolio management capabilities.

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

Ilana Tescher

Account Executive

BoardroomPR

itescher@boardroompr.com

Office: 954-370-8999

Cell: 954-249-1816

EagleBridge Capital Arranges $6 Million Mortgage For Brooklyn Rite Aid Building

Rite Aid Building, 7821 Third Avenue, Brooklyn, NY

Boston, MA -- EagleBridge Capital has arranged permanent mortgage financing in the amount of $6,000,000 for the Rite Aid Building located at 7821 Third Avenue at the corner of 79th Street in Brooklyn, New York. 

Brian D. Sheehan

The mortgage financing was arranged by EagleBridge principals Brian D. Sheehan and Ted M. Sidel who stated that the loan was provided by a leading financial institution.

The first floor (9600 square feet) is leased to a Rite Aid Pharmacy which has been a tenant since 1997.  The second floor (9600 square feet) is leased to Tutor Time which has been a tenant since 1999.

Rite Aid is one of the largest operators of drugstores in the United States with over 4560 pharmacies in 31 states and the District of Columbia. Tutor Time is a national pre-school early education child care provider with over 200 schools throughout the United States. Tutor Time is a subsidiary of Learning Care Group.

Mr. Sheehan and Mr. Sidel stated, “We are pleased that EagleBridge was able to arrange non-recourse financing featuring a very attractive 10 year fixed rate and a 30 year amortization.”

Ted M. Sidel

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for apartment, shopping center, free standing retail, office, industrial, r & d, hotel, condominium, and mixed use properties as well as special purpose buildings throughout New England and the United States.

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

Stanley J. Sidel

Senior Advisor

EagleBridge Capital

33 Broad Street

Boston, MA 02109

Tel: 617-292-7177 Ext.14

www.eaglebridgecapital.com

RealtyTrac Appoints Rob Barber New CEO; Jamie Moyle Chairs Innovation Committee

Jamie Moyle

IRVINE, CA, July 27, 2015 — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today announced it has hired a new CEO for its rapidly expanding data file licensing business to continue building on the company’s double-digit revenue growth cultivated over the last three and a half years.

Rob Barber, former CEO at Environmental Data Resources (EDR), will be the new RealtyTrac CEO. Jamie Moyle will be moving to Chair of the Innovation Committee of the Board of Directors.

Barber will begin August 17 and will supplement the already impressive staff of industry leaders the company has been assembling for its management team.

“We’ve been on a roll this past year,” Moyle said. “We’ve signed 75 Big Data Deals, grew traffic on Homefacts.com by 500 percent, and hired Brian Mushaney, Jon Cohn and Mike Sawtell.

“Rob Barber will make an amazing addition to the team and will build on the success and momentum that RealtyTrac has going into 2016.”

“Three and half years ago this company was collecting data for a single purpose,” he continued “We have successfully leveraged that capability to expand our scope and empower other businesses to achieve their goals. 2016 will be an exciting year of data expansion and product innovation.”

Barber is a veteran of the real estate information services industry.  During his tenure at EDR, he was responsible for doubling the company’s share in the engineering market, expanding successfully into multiple high growth adjacent markets, and innovating new platform solutions that deliver both content and workflow value to the property due diligence industry.  He was also a past board member at BuildFax, Landmark Information Group and the Content Division of the Software and Information Industry Association.

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

Ginny Walker

949.502.8300, ext. 268

ginny.walker@realtytrac.com