HFF secures $70.6 million financing for Class A mixed-use property in downtown Indianapolis, IN

 

                                                                              (Photo by Daniel Showalter)
Axis Apartments, 401 North Senate Avenue, Northwest  Quadrant, Central Business District
Indianapolis, IN

INDIANAPOLIS, IN – Feb. 22, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $70.6 million in financing for Axis, a 435,894-square-foot, Class A, mixed-use residential and retail property in downtown Indianapolis.

HFF worked on behalf of the borrower, Flaherty & Collins Properties, to place the10-year, fixed-rate loan with Allianz Life Insurance Company of North America through Allianz Real Estate of America, LLC, a correspondent life company lender.  Loan proceeds were used to replace the existing construction financing and return capital to the owners.

Dave Keller

Axis is located at 401 N. Senate Avenue within the northwest quadrant of the Indianapolis central business district, three blocks north of Monument Circle.  

With a Walk Score® of 86, this location offers convenient access to the downtown employment market, the Indiana University – Purdue University Indianapolis campus, and numerous dining and entertainment options.

 Completed in 2015, the mid-rise property has 336 luxury units averaging 914 square feet each along with 47,117 square feet of retail space, which features a 42,000-square-foot Marsh Supermarket. 

 The apartments and retail improvements surround a 426-space, secured parking garage with speed ramp and floor-by-floor resident access. 

The resort-style community amenities include a stainless steel, saltwater swimming pool; aqua lounge with kitchenette; grilling station; pet wash/pet walk; Zen garden; Sky Bar with 360-degree views of the downtown skyline; and 24-hour club room with two-story fitness center, yoga/Pilates studio, catering kitchen, gaming lounge, bike room, study lounges, conference room and library.

The HFF debt placement team representing the seller was led by senior managing director Dave 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

Quadrant Investment Properties, LLC purchases Saint Paul Place in Dallas, TX

Saint Paul Place Office Building, Ross Avenue and Saint Paul Street,
 Arts District, Dallas, TX

Celeste Fowden

DALLAS, TX, Feb. 22, 2016 -- Quadrant Investment Properties, LLC (“QIP”) is pleased to announce it has acquired Saint Paul Place, a 22-story, 273,217 square‐foot office building located on the corner of Ross Avenue and Saint Paul Street in the Dallas Arts District.

The building is currently 78% leased to a diverse roster of small to mid‐sized tenants including D‐Magazine, Crowe Horwath and Sendero Business Systems. This is the seventh acquisition for QIP.

“Saint Paul Place has always been one of our favorite buildings. We could not be more excited to have the opportunity to own it, especially at a time when the Arts District is experiencing so much momentum,” stated Chad Cook, Quadrant Investment Properties.

“The smaller floor plates and location one block from Klyde Warren Park differentiate the building from most of its competition and offers an experience unique for smaller tenants. It is hard to find buildings with this much character and such a strong, diverse

tenant base.

”QIP plans to implement several improvements including lobby amenity upgrades and a tenant conference center and lounge that will include a balcony overlooking the

Dallas Museum of Arts sculpture garden.

The new ownership will also upgrade numerous corridors and implement a building‐wide spec suite program.

“Saint Paul Place is a trophy office asset located in the middle of Dallas’ urban markets, the CBD and Uptown”, said Nick Cassavechia, Vice President of QIP.

 “The young talent moving to and living in this area is an important factor in current and prospective tenant’s site selection, and we feel Saint Paul Place is

positioned well for this demand.”

Cassavechia joined QIP in 2014 from HFF.

Nick Cassavecchia

Headquartered in Dallas, QIP is a commercial real estate investment company which targets value‐add office and industrial opportunities in Texas and the southwest United States. Before founding QIP, Chad Cook was vice president, Acquisitions for Hillwood.

Celeste Fowden, Seth Thatcher, and Ben Davis with CBRE will lease the project.

HFF represented the seller in the transaction. JLL procured the financing for the asset.

CONTACT INFO:

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

Chad Cook, Founder and Managing Member, ccook@quadrantcapital.com;

 214.855.2948

Nick Cassavechia, Vice President, Acquisitions, ncassavechia@quadrantcapital.com;

 214.855.2952

Quadrant Investment Properties, LLC.

8333 Douglas Avenue, Suite 1350

Dallas, Texas 75225

www.quadrantinvestmentproperties.com

HFF closes $17.5 million sale of shopping center in Kansas City, MO

Stateline Station Shopping Center, Highway 150 and West 135th Street,
South KC Submarket, Kansas City, MO

Amy Sands

CHICAGO, IL – Feb. 22, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $17.5 million sale of Stateline Station, a 142,600-square-foot, 85-percent-leased shopping center in Kansas City, Missouri.   

Barry Brown

HFF worked on behalf of the seller, Retail Properties of America, Inc.  Schottenstein Property Group, Inc. purchased the asset free and clear of debt. 

The property was completed in 2004 and is anchored by Marshalls, Cost Plus World Market and a separately-owned Super Target.  Other national retailers include Petco, Tuesday Morning, Mattress Firm, Pier 1 Imports and Dollar Tree. 

Located at the intersection of Highway 150 and West 135th Street in the South KC submarket, Stateline Station is in an affluent area of Kansas City where the average household income in a three-mile radius of the center is $130,141, which is 76 percent higher than the national average.

The HFF investment sales team representing the seller was led by directors Amy Sands and Clinton Mitchell and senior managing director Barry Brown.

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

 www.spgroup.com.

www.rpai.com.

Buena Vista, Miami, FL Mixed-Use Development Opportunity Hits Market for $4.95 Million

Rendering of Planned Bel-Air Lofts, 4920-4940 NE 2nd Avenue, Buena Vista, Miami, FL

 

Scott C. Sandelin

MIAMI, FL,  Feb. 22, 2016 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has obtained the exclusive right to market Bel-Air lofts in Buena Vista located at 4920-4940 NE 2nd Avenue , a mixed-use development opportunity of four vacant land parcels located in Miami’s Buena Vista/Design District neighborhood.

            “This is a unique opportunity for a developer to acquire one of the last and largest development sites available in the Buena Vista submarket,” says Scott C. Sandelin, a vice president investments in Marcus & Millichap’s Miami office.

“The current ownership successfully obtained waivers for three years allowing ingress and egress to the commercial and residential buildings through Northeast 50th Street.”

            Sandelin and Jonathan De La Rosa, an associate also in Marcus & Millichap’s Miami office, are representing the seller, a limited liability company from Miami.

            “Due to the high rental rates in the Design District, many retailers are considering moving operations just north to Buena Vista where rents are significantly lower,” says De La Rosa. “There are four new projects proposed or being developed along Northeast 2nd Ave.”

The four vacant land parcels on the northwest corner of 50th Street and Northeast 2nd Ave. total 25,437 square feet of which 18,537 square feet are zoned T4-L and 6,900 square feet are zoned T4-R. Architectural plans call for 12,800 square of retail in a two story mixed-use structure along Northeast 2nd Ave. and a three-story residential building with nine luxury townhomes and 74 underground parking spaces.

  

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

Kirk Felici

First Vice President, Miami

(786) 522-7000

              

Multi Housing Advisors Brokers $9.85 Million Sale of Apartment Community in Griffin, GA

Ashford Place Apartments, Griffin, GA

  

 ATLANTA, GA (Feb. 22, 2016) — Multi Housing Advisors (MHA) has arranged the $9.85 million sale of Ashford Place and Ashford Villas. The two properties, comprised of 189 units, are located in Griffin, Georgia.

Robert Stickel, who leads MHA’s central to coastal Georgia deal team, represented the seller, The RADCO Companies. Engineering Partners, LLC purchased the property.

Ashford Villas, Griffin, GA

“Ashford Place and Ashford Villas offered the buyer the opportunity to acquire two assets with exceptional in-place returns as well as the potential to further enhance resident experience and investment returns,” Stickel said.

 “Close proximity to Hartsfield-Jackson Airport and Georgia’s film industry tax incentives, in addition to its reputation as a regional medical hub, have made Griffin a prime destination for many new jobs.”

Ashford Place and Ashford Villas are located near Griffin’s main thoroughfares, offering residents convenient access to the Downtown area and major employers, such as Spalding Regional Hospital. Many of the properties’ unit interiors have been upgraded and are generating rent premiums. As such, new ownership will be able to build upon this positive momentum in the future while further enhancing the communities.

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

Deborah Rogers

Multi Housing Advisors

404.645.7275

drogers@usmha.com

Arbor Appoints Collin Downey as Vice President in Irvine, CA, Office

Collin Downey

UNIONDALE, NY (Feb. 22, 2016) - Arbor Commercial Mortgage, LLC (“Arbor”), a national, direct commercial real estate lender, today announced the appointment of loan originator Collin Downey as Vice President, Sales in the company’s Irvine, CA, office. Mr. Downey reports to Ken Fazio, Senior Vice President, National Production Manager.

With more than 10 years of real estate finance expertise on a multitude of products and the full range of assets types, Mr. Downey will be responsible for originating loans under all of Arbor’s diverse multifamily and commercial product lines, including Fannie Mae, Freddie Mac, FHA, Bridge, CMBS and Mezzanine financing. 

Prior to joining Arbor, Mr. Downey served as a Senior Loan Officer at Fidelity Commercial Funding where he originated more than $485 million in multifamily and commercial property loans nationwide. 

Mr. Downey earned a Bachelor of Arts degree in Political Science from the University of California at Berkeley.

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

Christopher Ostrowski

costrowski@arbor.com

Crossman & Co. Brokers Sale of South Carolina Publix Anchored Shopping Center

Publix Shopping Center, Seven Farms Drive,  Daniel Island, SC

John Zielinski

Charleston, SC -- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently brokered the sale of the Publix anchored shopping center located on Seven Farms Drive on Daniel Island. 

The 68,688 square foot Daniel Island Town Center was 98 percent occupied at the time of the sale.

“We are thrilled to be involved in facilitating the sale of this strategically located center,” stated John Zielinski, chief operating officer for Crossman & Company.

The seller was an institutional group located in the Northeast and the buyer was Publix Super Markets, Inc.

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

Beth Payan, Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com