Capital Square 1031 Acquires Medical Office Building in Winchester, VA

                                    

 

Louis Rogers

WINCHESTER, VA  – Capital Square 1031 announced the company has acquired a medical office building, 100 percent leased to Bio-Medical Applications of Virginia, doing business as Fresenius Medical Care Holdings Inc., in Winchester, Va.

Located at 38 W. Jubal Early Dr., the 9,503-square-foot, single-story condominium unit was recently built-to-suit for Fresenius, a wholly-owned subsidiary of Fresenius Medical Car AG & Co. KGaA.

“This is a recently-constructed, high quality medical office building on a long-term triple net lease to a subsidiary of the world’s leading provider of dialysis products and services. Its parent company had a net revenue of approximately $15.8 billion for the fiscal year 2014,” said Louis Rogers, founder and chief executive officer of Capital Square 1031.

According to Rogers, “Capital Square 1031 acquires medical properties throughout the nation because this desirable asset class is in great demand as a result of the ageing of the Baby Boomer generation.”

Listed on both the Frankfurt Stock Exchange (FME) and New York Stock Exchange (FMS), Fresenius is the world’s leading provider of products and services for people with chronic kidney failure.

 The company is primarily engaged in providing kidney dialysis services and clinical laboratory testing; manufacturing and distributing products and equipment for kidney dialysis treatment; and providing other medical ancillary services. 

During 2014, Fresenius cared for in excess of 283,000 dialysis patients in 3,349 proprietary clinics located in more than 45 countries worldwide. The company also operates more than 40 production sites on all continents, making Fresenius the leading provider of dialysis products, including dialysis machines, dialyzers and disposable accessories.

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

 Julie Leber                                                                         

 Spotlight Marketing Communications                    

 949.427.5172, ext. 703                   

 julie@spotlightmarcom.com

  

 www.CapitalSquare1031.com

Multi Housing Advisors Brokers $47 Million Sale of Apartment Community in Concord, NC

  

Afton Ridge Apartments, Concord, NC

 

Jordan McCarley

CHARLOTTE, NC  — Multi Housing Advisors (MHA) has arranged the $47 million sale of Afton Ridge.  Built in 2014 and 2015, the 360-unit apartment community is located near Charlotte, North Carolina.

Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the seller, Afton Ridge Apartments, in the transaction. The property was purchased by an undisclosed buyer.

“There continues to be an incredible demand for newer assets in quality locations,” McCarley said. “With a skilled workforce and well developed infrastructure system, the Concord area continues to experience strong population growth resulting in very attractive supply-and-demand characteristics.”

Afton Ridge has a Class A amenity package, including a resort-style swimming pool, state-of-the-art fitness center, stainless steel appliances, and granite countertops. The property is also conveniently located near shopping, Interstate 85 and Interstate 485.           

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

        

Deborah Rogers

Multi Housing Advisors

404.645.7275

drogers@usmha.com

Walgreens/Woodmont Shoppes in Tamarac, FL Sold for $6.45 million in Marcus Millichap-Handed Deal

 

Walgreens/Woodmont Shoppes, Tamarac, FL

 

Marc E. Strauss

TAMARAC, 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 Walgreens/Woodmont Shoppes, a 35,892-square foot retail property located in Tamarac, Fla, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office.

The asset sold for $6,450,000 equating to $180 per square foot.

Marc E. Strauss, a first vice president investments, in Marcus & Millichap’s Fort Lauderdale office, and Al Palacios, a senior associate, in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a private investor from Hollywood, Fla and the buyer, an individual/personal trust from North Miami Beach, Fla, was secured and represented by Strauss and Aaron O'Connor, an associate.

Built in 1992 on a 4.18 acre lot, Walgreens/Woodmont Shoppes consists of two parcels located in the same center.  Walgreens occupies approximately 42 percent of the overall leasable space, the remaining space is occupied by five tenants and an available 2,500-square foot bay.

Walgreens/Woodmont Shoppes benefits from its 325 feet of frontage to North University Drive. The property is located on a signalized hard corner of the intersection with Northwest 82nd Street at 8197 North University Drive.

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

                    

Ryan Nee

Vice President / Regional Manager

 Fort Lauderdale, FL

(954) 245-3400

The Anthony Building in West Palm Beach, FL Sold for $4.19 million in Deal Brokered by Marcus & Millichap

The Anthony Building, 312 Clematis Street, West Palm Beach, FL

WEST PALM BEACH, 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 The Anthony Building, a 23,078-rentable square foot retail and office property located on Clematis Street in the heart of West Palm Beach, Fla. 

The asset sold for $4,190,000 equating to $182 per square foot.

            “This was a unique investment opportunity in a strong barrier to entry location with excellent income and recognition on Clematis Street,” says Douglas K. Mandel, a senior vice president investments in Marcus & Millichap’s Fort Lauderdale office. 

“The property is poised to take advantage of the tremendous future growth and critical mass taking shape in West Palm Beach’s dynamic downtown area.”

Mandel and C. Todd Everett, a senior associate also in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a limited liability company from West Palm Beach, Fla., and the buyer, an individual/personal trust from Miami.

Douglas K. Mandel

The Anthony Building is a five-story building consisting of prime, ground-floor retail space and loft offices.  The property, which was originally built in 1925 and completely renovated in 1998, is currently 97.5 percent occupied.

Located at 312 Clematis Street on the east end of the downtown shopping and dining district, the Anthony Building is approximately one block from Flagler Drive and the intracoastal waterfront.

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

                    

Ryan Nee

Vice President / Regional Manager

 Fort Lauderdale, FL

(954) 245-3400

Marcus & Millichap Arranges $1.75 Million Sale of 25-Unit Hollywood Manor Apartments in Hollywood FL

Hollywood Manor Apartments, 915 South 21st Avenue, Hollywood, FL

 

Brandon J. Rex

HOLLYWOOD, 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 Hollywood Manor, a 25-unit apartment property located in Hollywood, Fla, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $1,750,000 equating to $70,000 per unit.

Evan Richardson, associate, Brandon J. Rex, vice president investments, Derek R. Gibbs and Daniel J. Cunningham, associate vice president investments, Robert S. Hunter, senior associate Evan P. Kristol, senior vice president investments, all in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Fort Lauderdale, Fla and the buyer, a limited liability company from Miami Beach, Fla.

Built in 1972 on a 0.37 acre site, Hollywood Manor is a 25-unit two-story building.  The unit mix is comprised on one studio, 15 one-bedroom/one-bathroom units, and nine two-bedroom/two-bathroom units.  The property offers ample parking, central air-conditioning and on-site laundry.

Hollywood Manor is situated west of South Federal Highway, east of Interstate 95, and south of Hollywood Boulevard at 915 South 21st Avenue in Hollywood, Fla.

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

                    

Ryan Nee

Vice President / Regional Manager

 Fort Lauderdale, FL

(954) 245-3400

HFF closes $52.7 million sale of and secures $26.6 million financing for 228-unit luxury apartment community in Miami ,FL

Jaaret Turkell

MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $52.7 million sale of and secured $26.6 million in acquisition financing for Bridges at Kendall Place, a 228-unit, luxury apartment community in Miami, Florida.

HFF represented the seller, Jamestown, in the sale of the asset to Stockbridge Capital Group, LLC (Stockbridge), who purchased the asset on behalf of a pension fund.  

Additionally, HFF assisted the new owner in securing a 10-year, 3.45 percent, fixed-rate acquisition loan through Prudential Mortgage Capital Company.

Bridges at Kendall Place is situated on 15.81 acres at 8485 Hammocks Boulevard in the Kendall neighborhood of western Miami. 

Completed in 2013, the property is within walking distance to several retail and dining options and convenient to several of the Miami area’s largest employers.  The garden-style community has seven, three-story residential buildings totaling 244,236 square feet offering one-, two- and three-bedroom floor plans.

 Property amenities include a swimming pool and sun deck; kids’ room and playground; dog park; clubhouse; fitness center; business center; and access to an adjoining park with lakes and walking trails.

Maurice Habif

The HFF investment sales team representing Jamestown was led by managing director Jaret Turkell and associate director Maurice Habif.

HFF’s debt placement team representing Stockbridge was led by managing director Elliott Throne and director Chip Sykes.

“Bridges at Kendall Place is a best-in-class asset in one of South Florida’s most dynamic and rapidly growing submarkets,” said Turkell.  “This property is a core asset that is well positioned for long-term growth and strong performance.”

“Further adding to the asset’s upside, the buyer was able to lock in excellent long-term, fixed-rate acquisition financing while interest rates are at incredibly low levels,” added Throne.

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

www.stockbridgerealestate.com.

www.jamestownlp.com.

HFF arranges equity and debt for Woodfield Dulles Station multi-housing development in Herndon, VA

Rendering of planned Woodfield Dulles Station Multi-Housing Project, Herndon, VA

Walter Coker

 WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged joint venture equity and construction financing for the development of Woodfield Dulles Station, a 400-unit, Class A multi-housing property adjacent to the future Innovation Center Metro station in Herndon, Virginia.

HFF worked on behalf of the developer, Woodfield Investments, to arrange joint venture equity from an undisclosed capital partner.  U.S. Bank provided a $69 million construction loan.

Woodfield Dulles Station is part of Dulles Station, a 63-acre, mixed-use, master planned community providing a walkable live-work-play lifestyle. 

In addition to its location directly adjacent to the future Innovation Center Metro station, the transit-oriented property will be situated just off the Dulles Toll Road and Route 28 interchange and approximately five miles from Reston Town Center, 14 miles from Tysons Corner and five minutes from Dulles International Airport. 

Due for completion in 2017, the five-story, NBGS Silver-certified, eco-conscious property will have studio, one- and two-bedroom units averaging 850 square feet each. 

Community amenities will include a resort-style swimming pool; gourmet outdoor kitchen spaces; rooftop multi-amenity deck; professional-grade fitness center; state-of-the-art conference space; computer lounge; coffee bar; and direct-access, secured parking garage.

 The HFF multi-housing team representing the developer was led by Walter Coker and Brian Crivella.

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

HFF closes $62.3 million sale, raises joint venture equity and secures financing for two suburban Boston, MA office assets

7-57 and 75-85-95 Wells Avenue, Newton, MA

Lauren O'Neil

BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of, raised joint venture equity and arranged the acquisition financing for 7-57 and 75-85-95 Wells Avenue, two office buildings totaling 332,194 square feet and located eight miles west of Boston in Newton, Massachusetts.

HFF represented the seller and procured the buyer, a joint venture, also arranged by HFF, between Angelo Gordon & Co. and Jumbo Capital Management, in this $62.3 million transaction.

 HFF worked on behalf of the new owner to secure five-year, fixed-rate first mortgage financing in the amount of $47.13 million, which included funds for the acquisition, as well as a facility for future tenanting and capital costs.

7-57 Wells Avenue and 75-85-95 Wells Avenue are located along Greater Boston’s Route 128/Interstate 95 beltway in Newton, Boston’s best performing suburban submarket with a true “live, work, play” environment. 

Coleman Benedict

At 95 percent leased, the properties boast an all-star rent roll including EMC, Ericsson, and Ascensus. 

The HFF investment sales team representing the seller was led by senior managing director Coleman Benedict and director Ben Sayles.

The HFF debt and equity placement team was led by directors Lauren O’Neil and Brett Paulsrud.

Mark Terry and Jonpaul Sallese represented East Boston Savings Bank in the mortgage transaction.

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.ebsb.com/big.

www.angelogordon.com.

www.jumbocapital.com

HFF secures $22.75 million refinancing for retail center on U.S./Mexico border in San Diego, CA

The Plaza at the Border, San Ysidro, CA

Aldon Cole

SAN DIEGO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $22.75 million refinancing for The Plaza at the Border, a 98,120-square-foot retail center along the U.S./Mexico border in San Ysidro, California.

HFF marketed the property on behalf of the borrower, The Shamrock Group, LLC, to place the three-year, floating-rate loan with NorthStar Real Estate Income II, Inc.  In 2013, HFF secured bridge financing on this property for the seller to replace a construction loan and pay for tenant improvements.

Completed in 2012, The Plaza at the Border is home to national and regional tenants, including T.J. Maxx, Ross Dress for Less, Vitamin Shoppe, Fashion Q, Rue 21 and Ulta Beauty.  The property is located at 3951-3975 Camino De La Plaza adjacent to The Outlets at the Border, which also is owned by the borrower, and The Las Americas Premium Outlets south of San Diego along the U.S./Mexico border in San Ysidro.  

The HFF team representing the borrower was led by senior managing directors Aldon Cole and Tim Wright.

According to HFF, even with a changing market experiencing macroeconomic challenges, we leveraged an excellent business plan, superb location and strong demand for quality retail in the bridge-lending space and were able to solicit a wide variety of capital providers, which created a competitive process for our client.

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.theshamrockgrp.com.

HFF secures $162 million financing for conversion of Hall Street Complex in Brooklyn, NY into premier creative loft office property

 

Michael Tepedino

NEW YORK, NY – Holliday Fenoglio Fowler, L.P. (HFF) recently secured $162 million in first mortgage financing for the Hall Street Complex, a 10-building, 665,000-square-foot creative mixed-use complex across from the Brooklyn Navy Yard in Brooklyn, New York. 

HFF worked on behalf of the borrower, a partnership between Westbrook Partners and RXR Realty, to arrange the floating-rate loan through Starwood Property Trust, Inc. (NYSE: STWD).

  Loan proceeds were used to acquire the property and will fund the repositioning of the asset into a premier creative loft office property capitalizing on the growing demand for office in the burgeoning Navy Yard submarket. 

The Hall Street Complex spans an entire city block, bordered by Flushing and Park Avenues and Ryerson and Hall Streets, in the desirable Clinton Hill neighborhood of Brooklyn.

  The property is directly across the street from the Brooklyn Navy Yard, two blocks from the Pratt Institute of Technology, and adjacent to the Brooklyn Queens Expressway, which provides access to Brooklyn’s Williamsburg neighborhood within five minutes and Manhattan’s Union Square within 35 minutes.

Steven Klein

 The property features an exposed brick and mortar industrial design, 14’ ceiling heights throughout, expansive window lines, large and flexible 4,500 – 28,000-square-foot floorplates and Manhattan skyline views to the north.

 Additionally, The Hall Street Complex offers the unique feature of full floor or full building presences in a variety of sizes not typically available to small and mid-size tenants.  Upon completion of the conversion, the property will offer door-to-door shuttle service to the area subways, an amenity few other properties in the area offer. 

The HFF debt placement team representing the borrower was led by Michael Tepedino, Steven Klein and Christopher Peck.

“The Hall Street Complex offers a fantastic canvas for a best-in-class creative office environment. RXR and Westbrook are uniquely equipped to reimagine the asset to accommodate the growing demand of Brooklyn-based tenants looking to grow within the market, as well as Manhattan-based companies eager to plant their flag where many of their employees live, work and play,” Peck said.

“The wide range of floor plates, high ceilings and future amenities will both attract and retain tenants, a dynamic that is perfectly suited for the burgeoning Brooklyn office market,” Klein added.

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.rxrrealty.com.

HFF closes $39.25 million sale and arranges $22.3 million in financing for Napa Square in downtown Napa, CA

                                                         

Napa Square, Downtown Napa, CA          Photo by Todd Quam at Digital Sky Aerial Imaging                                                                                       

Jordan Angel

 SAN FRANCISCO, CA – March 16, 2016 - Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale and arranged acquisition financing for Napa Square, a 65,848-square-foot, trophy mixed-use asset in downtown Napa, California.

HFF marketed the property on behalf of the seller, CDI Companies, a private investor.  JOSS Realty Partners purchased the asset for $39.25 million. 

Additionally, HFF worked on behalf of JOSS to secure a $22.3 million acquisition loan with J.P. Morgan Asset Management for the benefit of one or more managed accounts.  The financing has a 10-year, fixed-rate term and will be serviced by HFF.   

Originally built in 1957 and redeveloped in 2009, Napa Square is a LEED Gold certified, stucco and cast stone property featuring 41,010 square feet of Class A office space, 24,848 square feet of ground floor retail, open courtyards and subterranean parking for 44 vehicles.

 The 92-percent-leased property boasts tenants including Wells Fargo, Charles Schwab, US Bank and UPS and is anchored by two restaurants: Oenotri, a southern Italian restaurant, and The Norman Rose Tavern, a neighborhood pub. 

Scott Pertel

Situated in the newly revitalized “West End” neighborhood of downtown Napa across from The Andaz Hotel, Napa Square is within walking distance of Napa Center, a mixed-use project slated for completion within the year and Oxbow Public Market, a public market housing more than 20 local artisan retailers and eateries.  

The property is also convenient to Highway 29, the main thoroughfare of Napa Valley.

The HFF investment sales team representing the seller was led by Nicholas Bicardo, Scott Pertel, Danny Reddin and Brandon Rogoff. 

HFF’s debt placement team representing the new owner was led by Jordan Angel.

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.jrpllc.com

HFF closes $10.65 million sale of Class A industrial facility in Raleigh, NC

  

Eaton Distribution Center, 8380 Capital Boulevard, North Raleigh submarket, Raleigh, NC

 

Chris Norvell

 CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $10.65 million sale of Eaton Distribution Center, a 185,000-square-foot, fully-leased, Class A industrial facility in Raleigh, North Carolina.

HFF marketed the property on behalf of the seller, Chris Woody & Associates.  Stoltz Real Estate Partners purchased the asset free and clear of existing debt.

Eaton Distribution Center is triple net leased to Eaton Corporation, one of the largest industrial manufacturers of power management producers in the world, as an office, distribution and repairs center.

 The air conditioned facility contains 163,971 square feet of warehouse space with a 24’ minimum clear height, 120’-170’ deep concrete truck courts, 23 dock-high doors and one drive-in door. 

Additionally, the facility has 21,029 square feet of office space.  Eaton Distribution Center is situated on 23.4 acres at 8380 Capital Boulevard in the North Raleigh submarket proximate to the U.S. Highway 1/Capital Boulevard interchange, one of Raleigh’s primary transportation arteries.

 The facility also has immediate access to Interstate 540, providing routes to Interstates 85, 40 and 440; Raleigh-Durham International Airport and Research Triangle Park.

The HFF investment sales team representing the seller was led by senior managing director Chris Norvell, managing director Justin Good and director Scot Humphrey.

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.stoltzusa.com

HFF arranges $60 million refinancing for Grand Bohemian Hotel Orlando in Downtown Orlando, FL

Grand Bohemian Hotel, 325 South Orange Avenue,  Downtown Orlando, FL

 ORLANDO, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $60 million refinancing for Grand Bohemian Hotel Orlando, a 247-room, full-service, award-winning, luxury hotel in the heart of downtown Orlando, Florida.

HFF worked on behalf of the borrower, Xenia Hotels & Resorts, Inc., to place the 10-year, fixed-rate loan with MetLife.  Loan proceeds will be used to refinance an existing loan

Michael Weinberg

Grand Bohemian Hotel Orlando is an AAA Four Diamond award-winning hotel most recently named the 2015 No. 6 Best Orlando Hotel by U.S. News & World Report.

 The hotel, which is part of Marriott’s Autograph Collection, features 9,117 square feet of meeting and ballroom space, 1,518 square feet of pre-function space, a heated outdoor pool and whirlpool, Poseidon Spa, 24-hour fitness center, Grand Bohemian Art Gallery and three food and beverage options – The Boheme Restaurant, Bösendorfer Lounge and Starbucks® Café. 

Completed in 2001, the hotel is located at 325 South Orange Avenue in downtown Orlando across the street from the new Dr. Phillips Center for the Performing Arts, a nine-acre venue with three performance theaters and an outdoor performance plaza. 

The hotel is proximate to 10 million square feet of office space and, with a Walk Score ranking of 91, it is surrounded by restaurants, nightlife, parks, shopping and entertainment venues, including the Amway Center, home to the Orlando Magic NBA team.

The HFF debt placement team representing the borrower was led by director Michael Weinberg.

“We are bullish on downtown Orlando and its future growth potential,” Weinberg said.  “We have seen strong demand from debt and equity capital firsthand, having sold or financed some of the premier assets in the submarket, such as Grand Bohemian and Embassy Suites.”

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.metlife.com.

www.xeniareit.com.