National Retail Properties Inc. Declares Dividends for its 6.625% Series D Preferred and 5.70% Series E Preferred Stocks

Orlando, FL - The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a cash dividend on its 6.625% Series D Cumulative Redeemable Preferred Stock of 41.40625 cents per

depositary share payable September 15, 2015, to shareholders of record on August 31, 2015.

The Board also declared a cash dividend on its 5.70% Series E Cumulative Redeemable Preferred Stock of 35.625 cents per depositary share payable September 15, 2015, to shareholders of record on August 31, 2015.

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

Kevin B. Habicht

Chief Financial Officer

(407) 265-7348

HFF arranges $5.1 million financing for self storage property in Miami’s Little Haiti neighborhood

Michael Klein

MIAMI, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced  it has arranged  $5.1 million in acquisition financing for 200 NW 79th Street, a 663-unit self storage property located in the Little Haiti neighborhood of Miami, Florida.

  

HFF worked on behalf of the sponsor, 21st Century Storage, to secure the two-year, floating-rate senior loan with three 12-month extension options through Bedrock Capital Associates in New York City. 

200 NW 79th Street is situated in a densely populated location with nearly 200,000 permanent residents living within a three-mile radius. 

Additionally, the property benefits from 257 feet of frontage along NW 79th Street, a main east-west thoroughfare, as well as excellent proximity to Interstate 95 and North Miami Avenue, which provide easy access to downtown Miami/Brickell and Aventura. 

Completed in 1955 and renovated in 2004, the property consists of 628 climate-controlled units, two retail bays and 33 RV parking spaces.  The borrower is planning to make a series of upgrades to the property.

Jose Carrazana

The HFF team representing the borrower was led by director Michael Klein and associate director Jose Carrazana.

“The success of this debt placement can be attributed to numerous factors including the sponsor’s considerable operations and management experience, as well as strengthening economic fundamentals in self storage nationally,” Carrazana said.

 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 $81.38 million refinancing for 15-property industrial portfolio in New York, Ohio and Pennsylvania

  

 

Jon Mikula

FLORHAM PARK, NJ –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured an $81.38 million refinancing for a 15-property, 2.58 million-square-foot industrial portfolio with a mix of warehouse, distribution and cold storage buildings located in New York, Ohio and Pennsylvania.

HFF worked on behalf of the borrower, Heritage Capital Group, LLC, to arrange the 10-year, fixed-rate loan through Principal Commercial Capital, a lending platform jointly formed by Macquarie Group and Principal Real Estate Investors.  HFF secured acquisition financing on this portfolio in 2006.

The 15 properties have clear heights ranging from 22’ to 40’ and have an average of four percent office finish.  Eight buildings have access to rail service. 

At the time of closing, the portfolio was 92 percent leased to 31 tenants, including Staples, Inc.; Storage Mobility; McLane Food Service, Inc.; Victory Packaging LP; McGrann Paper; Scholastic Book Fairs, Inc.; Packaging Corporation of America and Global Foundries.

 In New York, four properties are located in the Syracuse metropolitan area, and three are near Rochester and Albany, facilitating entry into the Northeast and New England markets.  Two buildings are near Columbus, Ohio, providing access to the Midwest, and three of the assets are in the Harrisburg, Pennsylvania, area, which provides access to the Mid-Atlantic markets. 

The HFF debt placement team representing the borrower was led by senior managing director Jon Mikula.

“Having owned this portfolio for over nine years, Heritage has demonstrated an ability to grow occupancy and cash flow while creating efficiencies in the overall portfolio,” Mikula said. 

“This was validated by this transaction’s reception in the capital markets and with firms like Principal and Macquarie eventually providing the financing.”

 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.HeritageCapitalGroup.net.

Marcus & Millichap Brokers $4.62 Million Sale of 100-Unit Parkview Apartments in Tampa, FL

Casey Babb

TAMPA, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Parkview Apartments, a 100-unit apartment property located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $4,625,000.

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

 The buyer, a private investor, was secured and represented by David Greenberg, vice president investments, and David Altman, associate, in the firm’s Fort Lauderdale office. 

Parkview Apartments, a 1960s vintage garden community, is located at 10905 Bourbon Court in Tampa’s University submarket, which is in close proximity to major demand drivers and less than ten miles from both downtown Tampa and the Westshore business district, the region’s two largest employment centers.

Luis Baez

The community consists of two-story buildings surrounding common green space areas and a community swimming pool. 

Units consist of 24 one-bedroom/one-bath at 700 square feet, 56 two-bedroom/one-and-one-half-bath at 1,100 square feet and 20 three-bedroom/two-bath at 1,300 square feet.

Each unit features a fully- equipped kitchen with a dishwasher and garbage disposal, large open floor plan, tile flooring and private balconies in select units.

“Parkview was an ideal purchase for the client who was exchanging from an apartment investment property in Texas and in pursuit of a reposition, value-add opportunity,” says Baez.

 “Generating 11 offers during our marketing campaign and ultimately selling above the list price, this sale was a testament of the continued high demand from investors looking for vintage reposition opportunities,” Baez added.

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

Richard D. Matricaria

Vice President/Regional Manager

 Tampa, FL

(813) 387-4700

Marcus & Millichap Handles Sale of 43,722-SF Quillen Manor Seniors Housing Property in Fountain Inn, SC

      

Krone Weidler

FOUNTAIN INN, SC – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Quillen Manor, a 43,722-square foot seniors housing property located in Fountain Inn, SC, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $2,500,000.

Krone Weidler, vice president investments and managing director of the Integrated Healthcare properties, in Marcus & Millichap’s Tampa office, and Allan Holbrook, associate, in the firm’s Jacksonville office both represented the seller, a bank/financial institution.

 The buyer, a limited liability company, was secured and represented by Krone Weidler.  Raj Ravi, broker for South Carolina, assisted in closing this transaction.

Allan Holbrook

Quillen Manor, a 68-unit and 82 bed independent and assisted living community, is located at 709 Quillen Avenue in Fountain Inn, South Carolina. 

The property sits on 8.05 acres, and is located minutes from Greer, 30 minutes from Greenville and about an hour from Clemson, South Carolina.

“This property is a value-add seniors housing opportunity with an in-place upgrade strategy,” says Weilder.

 “Significant upside is possible via the strategic continuation of the upgrade process across the remainder of the asset.” 

Weidler adds, “As the market for stabilized seniors housing assets tighten and construction costs for new assets continue to rise, many seniors housing investors look more closely at value-add opportunities like this.”

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

Richard D. Matricaria

Vice President/Regional Manager

 Tampa, FL

(813) 387-4700