Wednesday, February 24, 2016

HFF arranges $95.5 million in financing for Southern California seniors housing development

Rendering of planned Crestavilla seniors housing community,
30111 Niguel Road, Laguna Niguel, CA
James Fowler
NEWPORT BEACH, CA – Feb. 24, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $95.5 million in joint venture equity and construction financing for the development of Crestavilla, a 211-bed, to-be-built, luxury, resort-style seniors housing community located in the Orange County community of Laguna Niguel, California.

HFF worked on behalf of the developer, Steadfast Companies, to arrange the $27.9 million joint venture equity capital with Fremont Realty Capital.  In addition, HFF secured the $67.6 million construction loan for the partnership through a local bank.

Crestavilla will be a luxury, fully-licensed seniors housing development with panoramic views of the neighboring Pacific coastal hills.  The three-story, Spanish Colonial-style building will house 61 independent living units, 115 assisted living units and 25 memory care units, totaling 201 units with 211 beds. 

The community will feature a variety of amenities, including four restaurants, two theaters, walking trails, fitness center, salon and spa, dog park, rooftop gardens and verandas, pet care, shuttle and limousine service, medical services and a number of clubs, programs, courses and studios. 

Situated on 11.5 acres at 30111 Niguel Road, the Crestavilla site is 4.5 miles from two acute-care hospitals and 6.5 miles from Saddleback Memorial Medical Center, named in 2015 by Healthgrades as one of America’s 50 Best Hospitals.

The HFF equity and debt placement team representing the developer was led by managing director James Fowler and senior managing directors Ryan Maconachy and Chad Lavender.

“Steadfast Companies, in partnership with Fremont Realty Capital, have already begun construction on what will become the premiere seniors housing project in south Orange County,” Fowler said.  “The location is superb and the planned quality of amenities and construction will be unparalleled.”

  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 |

Financing for 480-unit apartment community in Houston, TX arranged by HFF

Cortney Cole
DENVER, CO – Feb. 24, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged acquisition financing for Broadstone Stone Park, a 480-unit, garden-style apartment community in Houston, Texas.

HFF worked exclusively on behalf of the borrower, Advenir, Inc., to secure the seven-year, 2.82 percent, floating-rate loan with three years of interest only through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.

 The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.  Advenir will rebrand the property as Advenir@Stone Park and will implement a capital improvement program to achieve greater rental premiums.

Broadstone Stone Park is situated on 21.59 acres at 6160 East Sam Houston Parkway North, approximately seven miles northwest of the Port of Houston and 16 miles northeast of downtown. 

The two-phased, controlled-access community has 17 residential buildings totaling 414,564 rentable square feet and two separate amenity packages for each phase including resort-style swimming pools; state-of-the-art fitness centers; barbecue and picnic areas; clubhouses with full kitchens, billiards tables and shuffleboards; business centers; and detached garages and carports.           

The HFF debt placement team representing Advenir, Inc. was led by Josh Simon, Eric Tupler and 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 |

Prologis Awards Berger Commercial Realty Exclusive Leasing Assignment for Prospect Park I and II in Fort Lauderdale Commerce Center

Joe Byrnes
FORT LAUDERDALE, FL (Feb. 24, 2016) - Prologis, a S&P 500 organization and global leader in industrial real estate development and management, has awarded Berger Commercial Realty the exclusive leasing assignment for Prospect Park I and II.

Located within the Fort Lauderdale Commerce Center, the two business parks total 14 buildings and more than 150,000 square-feet of prime office and flex space.

Brokers Joe Byrnes, Keith Graves and Jonathan Thiel will be the exclusive leasing agents for the properties, which are currently 65 percent occupied.

In 2013, Prologis retained Berger Commercial Realty to manage leasing for the I-595 Distribution Center, a 150,452-square-foot industrial facility in Davie that consists of two buildings.

"We are proud that Prologis, a true global leader in industrial real estate, continues to trust our firm to manage leasing on its behalf, and we look forward to increasing tenancy at these two properties," Graves said.

Keith Graves
Located at 5201 to 5255 N.W. 33rd Ave., the 70,874-square-foot Prospect Park I consists of six buildings and features prime office suites ranging from 1,178 square-feet to 4,719 square-feet.

Prospect Park II, located at 3301 to 3471 N.W. 55th St., consists of eight buildings totaling 81,925 square-feet of office/flex space and features bays from 902 square-feet to 5,589 square-feet. Many of these units are "flex" bays that feature warehouse space and offer grade level loading.

Renovated over the past two years, Prospect Park I and II both feature contemporary designs and enhanced curb appeal.

The business parks offer opportunities for highly visible exterior signage, round-the-clock access and convenient access to I-95, Florida's Turnpike, Commercial Boulevard and Fort Lauderdale International Airport.

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

Lexi Robinson, ext. 255,
Marielle Sologuren, ext. 226,

Marcus & Millichap Arranges $1.8 Million Sale of 12-Unit Apartment Building in Miami Beach, FL

Felipe J. Echarte
MIAMI BEACH, FL, Feb. 24, 2016 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Sapphire NoBe, a 12-unit, two-story, garden-style multi-family complex in the Normandy Isle area of Miami Beach. 

The asset sold for $1,837,500 representing $153,125 per unit.

“Normandy Isle is a very strong rental community with minimal vacancies due to a growing demand in the area, lack of new product being added to the market and the reduction of inventory due to buildings being converted to condominiums and short term rentals,” says Felipe J. Echarte, a vice president investments in Marcus & Millichap’s Fort Lauderdale office.

“This was a rare opportunity to acquire a renovated apartment building with condo documents in place in an absolute AAA location that continues to appreciate and will do so for the foreseeable future.”

Echarte, Evan P. Kristol, a senior vice president investments, and Harrison Rein, an associate, also in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a private investor from Toronto, ON, and the buyer, a limited liability company from Miami Beach.

Located at 6930 Rue Vendome in Miami Beach, Sapphire NoBe is just south of Normandy Drive (71st Street), which becomes John F. Kennedy Causeway and is the main entrance into the North Beach area from the city of Miami. The neighborhood is on an island located between North Beach and North Bay Village.

Sapphire NoBe consists of two studios and 10 one-bedroom/one-bathroom apartments -each with its own private entrance. The property has been extensively renovated including impact resistant windows and doors, new railings, landscaping, front entrance with travertine flooring, and a new roof in 2012.

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

Ryan Nee
Regional Manager
Fort Lauderdale, FL
(954) 245-3400

Chatham Lodging Trust Announces Fourth Quarter 2015 Results

Jeffrey H. Fisher
WEST PALM BEACH, FL,  Feb. 24, 2016—Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels and owns 133 hotels wholly or through joint ventures, today announced results for the fourth quarter ended December 31, 2015. In addition, the company provided initial guidance for 2016.

“Despite Wall Street selling off lodging REIT stocks in 2015, Chatham generated marked external growth and operating results while strengthening its balance sheet,” said Jeffrey H. Fisher, Chatham’s president and chief executive officer. “The company achieved numerous great metrics.”

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

Patrick Daly
Office Manager
Daly Gray, Inc.
Office:  (703) 435-6293

Cell:  (703) 300-8289