MG Properties Group Acquires Russellville Commons Apartments in Portland, OR for $57.85 Million

Mark Gleiberman

San Diego, CA – MG Properties Group, a private San Diego-based real estate investor and operator, has announced the $57,850,000 acquisition of the Russellville Commons Apartments in Portland, Oregon.

 Located in Portland’s Gateway District, an emerging transportation-oriented neighborhood providing convenient access by car and light rail to multiple job corridors throughout the Portland metropolitan area, the 283-unit property was purchased from The Reliant Group, a San Francisco-based holding company.

According to Mark Gleiberman, MG Properties Group Chief Executive Officer, “This acquisition represents an expansion of our portfolio in the Pacific Northwest region, and is a continuation of our strategy to acquire high-quality assets with the potential for value-add improvements and strong current income generation.”

The Reliant Group was represented by Cody Hagerman and Tyler Johnson at HFO Investment Real Estate.  The acquisition was financed with a 10-year fixed-rate mortgage provided by PNC Bank, N.A., member of The PNC Financial Services Group, Inc.

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

Lexi Astfalk or Katie Kea

 (949) 955-7940

 kkea@browermillercole.com

Delray Beach Based HC Real Estate Capital Arranges $6.5 Million in Financing for Winn Dixie Anchored Retail Center In Miami Gardens, FL

Miami Gardens Shopping Center, 17201-17237 NW 27th Avenue, Miami Gardens, FL

  

Chris Caveglia

Miami Gardens, FL, March 29th, 2016 -- Chris Caveglia and Kurt Hoffmann of HC Real Estate Capital have arranged $6,500,000 in financing for the shopping center located at 17201-17237 NW 27th Avenue Miami Gardens, FL. 

The 100% leased shopping center was constructed in 1991 and is comprised of 95,545 SF.   The shopping center is made up of a number of local and national tenants including:  Winn Dixie, Planet Fitness, Rainbow Apparel, Wells Fargo and Foot Locker.  

The property is situated on approximately 10 acres of land and is located approximately 2 miles from the Sun Life Stadium.   Financing was arranged through a regional banking relationship at a competitive fixed interest rate that allowed the borrower to carry out their long-term plan for the property.  

HC Real Estate Capital, LLC is a privately owned mortgage-banking firm founded by Kurt Hoffmann and Chris Caveglia.  Based in Delray Beach, Florida, HC Real Estate Capital arranges permanent and bridge commercial and multifamily real estate loans. 

The company has a broad capital provider base that includes insurance companies, CMBS lenders, pension fund advisors, and commercial banks.

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

Chris Caveglia

HC Real Estate Capital, LLC

660 Linton Blvd. Ste 200 EX5

Delray Beach, FL 33444

Direct: 561-266-3273

Mobile: 561-376-3176

ccaveglia@hcrecapital.com

www.HCREcapital.com

tudent Housing community at University of Central Florida trades hands.

Paul Guyet

Orlando, FL  – Orlando-based Smith Equities Real Estate Investment Advisors announced the sale of The Edge, a student housing community across the street from the University of Central Florida (UCF), to Campus Advantage from Austin, Texas.

 The seller was American Campus Communities also from Austin. Paul M. Guyet, Student Housing Specialist at Smith Equities, negotiated

this transaction.

This property fits well with the ongoing efforts of Campus Advantage to acquire student properties with high occupancies near major universities. The Edge has 312 units and 930 bedrooms.

 The property's amenities include a 24-hour fitness center and recreation center with billiards, foosball and ping pong, swimming pool with hot tub and sundeck, barbecue grills, movie theatre room, tennis court, sand volleyball court, basketball courts and study rooms.

Its units feature private bedrooms, leather-style furniture, washer/dryer and fully-equipped kitchens.

This is Campus Advantage’s second purchase in the UCF market. They also own Northgate Lakes, a 195 unit, 710 bed community. American Campus also owns both Plaza on University, a 364 unit 1,313 bed community, and The Village at Science Drive, a 192 unit, 732 bed community.

The Edge Apartments, Orlando

The occupancy levels in the UCF market are near record highs and no new communities are scheduled in the near future.

Paul Guyet is the student housing specialist at Smith Equities. He has twenty student housing sales, totaling 2,398 units and 8,213 bedrooms, to his credit in Florida.

"If you want to sell or buy student housing in Central Florida, Paul is the man to go to," states Josh Greenleaf, Director of Acquisitions at Campus Advantage.

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

Paul M. Guyet, 407-422-0704, ext. 105

pguyet@smithequitiescorp.com

350 East Pine Street . Orlando, Fl 32801 . (407) 422-0704 .

www.SmithEq.com

 www.MyRentComps.com

 www.ApartmentsNowAvailable.com