HFF closes $74.35 million sale of 7-building portfolio of retail space and development site in Naples, FL

5th Avenue Collection, Naples, FL

Manuel de Zarraga

MIAMI, FL –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $74.35 million sale of a seven-building portfolio on 5th Avenue in Naples, Florida.

HFF marketed the property on behalf of the seller, Naples Fifth Avenue Holdings, LLC, whose principals include Jose Hevia and Trish Blasi.  Hoffman Commercial Real Estate purchased the asset free and clear of existing debt. 

Courtelis Company, which provided leasing and management services for Naples Fifth Avenue Holdings, LLC, assisted HFF in the marketing process.           

The seven-building portfolio totals 122,276 square feet and consists of 73,523 square feet of street-level retail space, 48,753 square feet of office space and a 1.1-acre site on one of the wealthiest high-street markets in the country:  5th Avenue in Naples.  The 1.1-acre development site is situated at the corner of 4th Avenue and 4th Street and currently serves as a 115-space surface parking lot. 

The collection of assets benefits from its location along the 5th Avenue corridor as downtown Naples continues to experience intense demand from retail and restaurant users.  The buildings are 86.2 percent leased, in aggregate, to tenants including Wells Fargo Bank, TD Bank, TD Ameritrade, Berkshire Hathaway Real Estate, PNC Bank, SunTrust Bank, Starbucks, Tervis Tumbler and Provident Jewelry.

The HFF team representing the seller was led by executive managing director Manuel De Zárraga, senior managing director Daniel Finkle, managing director Luis Castillo and associate director Nat Scarmazzi.  Rod Castan, president of Courtelis Leasing and Management, also assisted in representing the seller.

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.hoffmanncre.com.

HFF hires Patrick Arnold as an associate director in its loan sales group

                             

Gerard Sansosti

ATLANTA, GA – Holliday Fenoglio Fowler, L.P. (HFF) announced Patrick Arnold has joined the firm as an associate director in its Atlanta office.  Mr. Arnold will be a member of HFF’s national loan sales group and will focus on evaluating and identifying loan sale opportunities throughout the U.S.

Mr. Arnold joins HFF from Mission Capital Advisors where he was a vice president for the Commercial Mortgage Loan Sales team.  During his seven year tenure at Mission, he was involved in approximately $17 billion (unpaid principal balance) in loan sales through both stand-alone and multi-loan portfolio transactions.  Mr. Arnold graduated from the University of Virginia.

“Consistent with all of HFF’s new hires, we strive to find the best and brightest in the industry whom also closely align with our firm’s principals and culture,” said Gerard Sansosti, executive managing director and co-head of HFF’s national loan sales platform.

‘Patrick is a perfect example of this and he will be a key addition to our loan sales and REO team.  He has extensive experience with a wide variety of seller types across the loan sale spectrum as well as a keen understanding of all types of loan sale transactions - performing, sub-performing and non-performing assets,

”

 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

Stepp Commercial Names Mark Witsken as Vice President

Mark Witsken

LONG BEACH, CA – Stepp Commercial, the leading multifamily brokerage firm in the Long Beach market, has named Mark Witsken as vice president. 

In this role, he will focus on multi-housing investment sales transactions in the greater Long Beach area with a specific emphasis on providing a high-level of service to both buyers and sellers of smaller apartment assets.

“I am pleased to be joining Stepp Commercial and look forward to meeting a need for small apartment owners and investors,” said Witsken. “Through our firm’s proven platform, my goal is to provide a very high-end, institutional-quality level of service that hasn’t been available to them until now.”

Prior to joining Stepp Commercial, Witsken worked for Keller Williams Commercial where he specialized in the disposition, acquisition, and exchange of multifamily properties in Long Beach and Inglewood.

“Mark has built a solid client base and strong reputation for his expertise in the smaller apartment property sector. Until now, we have focused our marketing efforts on properties in excess of 10 units,” noted Robert Stepp, principal with Stepp Commercial.

“With this strategic hire, we anticipate that Stepp Commercial will expand our already significant market share in the coming months. We will now be enabled to provide the added service of working with investors who seek to trade out of smaller assets into larger ones via a 1031 exchange, to realize stronger cash flows and higher returns.”

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

Darcie Giacchetto

949.278.6224

www.SteppCommercial.com

Meridian Capital Group Arranges $6.2 Million in Agency Financing for the Purchase of the Waldan Pond Apartments in Acworth, GA

Waldan Pond Apartments, 450 Waldan Circle, Acworth, GA

Carlsbad, CA, Oct. 14, 2015,  – Meridian Capital Group, America’s most active debt broker, negotiated a $6.2 million agency loan for the purchase of the Waldan Pond Apartments, a multifamily property located in Acworth, GA on behalf of Canadian investors.

Sarah Kuebler

The seven-year Freddie Mac loan, provided by Capital One Multifamily Finance, features a fixed-rate below 4.00%, an 80% loan-to-cost ratio and interest-only payments for the first year followed by a 30-year amortization schedule.

This transaction was negotiated by Meridian Managing Director, Seth Grossman, and Associate, Sarah Kuebler, who are both based in the Company’s Carlsbad, CA office.

Waldan Pond Apartments are located at 450 Waldan Circle in Acworth, GA and totals 124 units.

“The borrower is a repeat client of Meridian and has closed loans in multiple U.S. markets. 

"This loan was rate locked and closed during a period of severe market dislocation where agency spreads were widening, but all parties worked together to move quickly and the transaction was early rate locked far below the market,” said Mr. Grossman.

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

Jonathan Stern

Meridian Capital Group

212/972-3600

jstern@meridiancapital.com

www.meridiancapital.com

Meridian Capital Group Arranges $18.8 Million in Acquisition Financing for the Lake Azzure Fractured Condominium Property Located in Tampa, FL

Lake Azzure Condominiums, 8505 Lincoln Cove Drive, Tampa, FL

 New York, NY,  Oct.  14, 2015,– Meridian Capital Group, America’s most active debt broker, negotiated $18.8 million in acquisition financing for the purchase of the majority of the units at the Lake Azzure condominium property located in Tampa, FL.

Shaya Ackerman

The $18.8 million, seven-year loan was provided by a regional balance sheet lender and features a rate of 3.75% and two years of interest-only payments. This transaction was negotiated by Meridian Capital Group Managing Director, Shaya Ackerman, who is based in the Company’s New York City headquarters.

Built in 1972, the 24.5-acre Lake Azzure Condominium Community is composed of 368 units, of which 332 serve as collateral for the loan. The property features two swimming pools, a jacuzzi, outdoor barbeque and lounge area, 24-hour fitness center, community center with conference room and a 16-acre lake with two fishing docks.

Lake Azzure is located at 8505 Lincoln Cove Drive, just off of Dale Avenue, Tampa’s primary retail corridor and in close proximity to numerous shopping and entertainment venues. Tenants and owners at the property benefit from convenience access to Interstate 275 and Veterans Expressway.

“Despite the fractured nature of this property, where our client acquired over 90% of the units, Meridian was able to navigate the complex ownership structure and negotiate favorably priced acquisition financing,” said Mr. Ackerman. “Furthermore, we obtained two years of interest-only payments which will benefit the execution of the business plan for this asset,” he added.

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

Jonathan Stern

Meridian Capital Group

212/972-3600

jstern@meridiancapital.com

www.meridiancapital.com

HFF arranges $49.5 million financing for Liberty Creek Apartments in Aurora, CO

Liberty Creek Apartments, 13100 East Kansas Drive, Aurora, CO

 

Brock Yaffe

DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $49.5 million in financing for Liberty Creek Apartments, a 584-unit, garden-style multi-housing community in the east Denver suburb of Aurora, Colorado.

 HFF worked on behalf of the borrower, a joint venture between BMC Investments (BMC) and Oak Coast Properties, to place the 10-year acquisition financing with Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. 

The securitized loan has a fixed-rate of 4.14 percent with five years of interest only.  In addition, the loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program. 

Liberty Creek Apartments is located at 13100 East Kansas Drive in Aurora with nearby access to Interstate 225.  The property has 42 two-story buildings that house one- and two-bedroom units ranging from 653 to 882 square feet. 

Community amenities include three heated swimming pools, basketball and tennis courts, fitness center, playground, grilling areas, business center and clubhouse.

The HFF debt placement team representing the borrower was led by associate director Brock Yaffe.

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