Crescent Communities Enters Homebuilding Business with Launch of Fielding Homes

  

Todd Mansfield

CHARLOTTE, NC — In a move to further strengthen its commitment to community development, Crescent Communities today launched Fielding Homes, a new homebuilding company.

Fielding Homes is building in the Charlotte area, and will soon expand to Raleigh and additional fast-growing cities across the Sun Belt region. 

Following the same principles as Crescent Communities, Fielding Homes builds community and betters people’s lives by creating thoughtfully designed homes in prime locations.

“As one of the nation’s leading residential developers, it is a natural progression for us to extend our successful approach into homebuilding and to further enhance our communities by overseeing the development process from start to finish,” said Todd Mansfield, CEO of Crescent Communities.

Andrew Carmody

“We feel that our involvement in the home building industry will add value to our entire portfolio and delight our residents, partners, and investors.”

“Crescent is bringing its same passion for creating vibrant and successful communities to building single-family homes,” said Andy Carmody, President of the Crescent Communities Residential Division. 

“We saw an opportunity in the production homebuilding business to improve the process, make it more personalized for the homebuyer, and therefore elevate the entire experience.

“ As we do with each community that we create, we challenged our Fielding Homes’ team to find innovative ways to redefine homebuilding from the consumer perspective, rather than that of the developer.”

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

Savannah Durban

404-343-0870

sdurban@thewilbertgroup.com

www.FieldingHomes.com.

www.CrescentCommunities.com

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Multi Housing Advisors Brokers Sale of Two Apartment Communities in South Carolina

  

Carolina Crossing Apartments, Rock Hill, SC

CHARLOTTE, N.C. (Feb. 18, 2015) - Multi Housing Advisors (MHA) has arranged, in separate transactions, the sales of two apartment communities located in South Carolina. Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the sellers in the transactions.

“These two South Carolina markets continue to receive steady attention from investment capital as growth figures maintain a fundamentally optimistic picture,” McCarley said. “Both assets are well positioned to benefit from this continued momentum.”

The Shores at Elders Pond Apartments, Columbia, SC

Details of the deals are below:

·        Hardscrabble Apartment Associates and Pulliam Investment Co. of Spartanburg, South Carolina sold The Shores at Elders Pond. 

The 236-unit property was built in 2004 and 2007 and is located in Columbia, South Carolina.

 The community is positioned in the heart of the Richland 2 school district, which ranks #1 in the state, and is also situated in a high growth area with some of Columbia’s finest retail.

·        Varden Capital Properties (VCP) sold Carolina Crossing to MACC Properties and The JAR Group. The 267-unit property was built in 1999 and is located along one of Rock Hill, South Carolina’s most heavily trafficked corridors, with the surrounding area offering some of the highest home values. The York County submarket has experienced strong job growth and boasts numerous large and stable employers.

  

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

Deborah Rogers

Multi Housing Advisors

404.645.7275

drogers@usmha.com

Faris Lee Investments Completes $4.08 Million Sale of Retail Property in Columbia, SC

Retail Center, 189 Harbison Boulevard, Columbia, SC

IRVINE, CA – Faris Lee Investments, a leading retail advisory and investment sales firm, has completed the $4.08 million sale of a newly developed 7,400-square-foot, two-tenant retail property triple net-leased by Sleep Number and Stanton Optical in Columbia, South Carolina. Both tenants have new, 10-year corporate-backed leases in place with scheduled renewal options.

Matthew Mousavi

Matthew Mousavi and Patrick Luther of Faris Lee Investments represented the seller, a private development based in South Carolina. The buyer was a private family trust from New Jersey. The property sold at more than $550 per square foot, one of the highest on record for Columbia.

Completed in 2015, the new retail property is situated on .51 acres at 189 Harbison Blvd. It is located on one of the main retail corridors in the market, and was marketed prior to completion of construction.

“We received a strong amount of interest from a buyer with the majority of offers being from California,” said Mousavi. “Opportunities to own newly built properties featuring corporate-backed tenants on long-term leases in growing markets are rare.”

Situated on Harbison Blvd., the property is within a major East-West shopping corridor, featuring in excess of two million square feet of retail property. Some of the corridor’s key national/credit tenants include Walmart, Sam’s Club, Target, Ross, Bed Bath & Beyond, Dillard’s, Kohl’s, TJ Maxx, Marshall’s, Babies R Us, and Regal Entertainment.

The property is also located within a half-mile radius of four major shopping centers that include: Columbiana Station, Harbison Court, Harbison Center, and Columbiana Centre Mall.

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

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

  

HFF secures $18 million financing for historic downtown Dallas, TX office building

211 N. Ervay office building downtown Dallas TX

 

De'On Collins

DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $18 million in first lien financing for 211 N. Ervay, a 197,000-square-foot, historic office building with ground-floor retail in downtown Dallas, Texas.

Working on behalf of the borrower, Alterra International, HFF placed the five-year, floating-rate loan with Ready Capital Structured Finance.  Loan proceeds will be used to fund future tenant improvements, leasing commissions and minor remaining capital expenditures on the building.

Originally built in 1958, 211 N. Ervay was completely vacant when Alterra International purchased it in 2012. Upon acquisition, they spent a significant amount of capital to abate, rehab and lease up the property. 

The ground-floor retail is 100 percent leased, anchored by Koleksiyon Furniture, 7-Eleven and Café Izmir.  The office tower is leased to a variety of tenants, including Fort Work, Tech Wildcatters, Traxo and Koios Works.

 Situated at the intersection of N. Ervay and Elm Streets, the building is accessible via Interstates 30 and 35 and Highway 75 in addition to being within walking distance of the St. Paul DART light rail station. 

The HFF debt placement team representing the borrower was led by associate director De’On Collins and managing director Steven Heldenfels.

According to HFF, “the building’s rehabilitation is part of a continuing trend revitalizing downtown Dallas into not only the largest employment center in North Texas with 135,000 employees, but also into a live-work-play destination.”

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

Kristen M. Murphy

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.hfflp.com/

 www.Alterrainternational.com.

HFF secures $33 million refinancing for Hampton Inn San Diego/Mission Valley

Hampton Inn San Diego/Mission Valley, San Diego, CA

NEWPORT BEACH, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $33 million refinancing for Hampton Inn San Diego/Mission Valley, a 184-room, LEED-certified, select-service hotel in San Diego’s Mission Valley West neighborhood.

HFF worked on behalf of the borrower, T2 Hospitality, to secure the 10-year, fixed-rate loan through Goldman Sachs Mortgage Company.  Loan proceeds were used to refinance existing debt.

James Fowler

Situated at 2151 Hotel Circle South in Mission Valley, a shopping and entertainment center in northern San Diego, the newly-renovated Hampton Inn San Diego/Mission Valley is located near many of San Diego’s popular attractions and destinations, including SeaWorld San Diego, Belmont Amusement Park, Mission Beach, Historic Old Town and the San Diego Zoo. 

Additionally, the hotel is approximately five miles from downtown San Diego and the San Diego International Airport.   Renovated in 2014, Hampton Inn San Diego/Mission Valley features electric vehicle charging stations, complimentary breakfast, multilingual staff, fitness room, pool, business center and a boardroom that seats up to 10 people. 

The HFF debt placement team representing the borrower was led by managing director James Fowler.

“T2 Hospitality has created a high-quality offering that features a variety of modern amenities and contemporary-style design for maximum comfort, relaxation and productivity,” Fowler said.  “The rooms are spacious and offer the most up-to-date technology, with free Wi-Fi and an ergonomic desk along with a 40-inch HDTV with more than 100 channels.”

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

Kristen M. Murphy

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.hfflp.com/

www.t2hospitality.com