HFF selected by Redwood Trust to market $241.3 million commercial mezzanine loan portfolio in 26 States

Brock Cannon

NEW YORK, NY,  June 6, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has been retained by Redwood Trust, Inc. to market and sell a $241.3 million commercial loan portfolio consisting primarily of commercial mezzanine loans associated with 73 properties located in 26 states. 

The portfolio has a weighted average coupon of 9.7 percent and a weighted average remaining term of 5.1 years. 

The associated properties consist of a diverse range of assets across the U.S., including office (35.6 percent Unpaid Principal Balance (“UPB”)), multi-housing (30.2 percent UPB), hospitality (15.4 percent UPB), retail (10.3 percent UPB), self storage (4.1 percent UPB), industrial (2.5 percent UPB) and manufactured housing (1.8 percent UPB). 

Geographically, the properties are spread throughout the U.S. with 16 assets in the Southeast, nine in the Northeast, 12 in the Midwest, six in the West, four in the Mid-Atlantic, six in the Southwest and one asset with associated properties in various states.

The HFF loan sales team representing Redwood Trust, Inc. is led by managing directors Brock Cannon and Daniel O’Donnell and associate director Sean Ryan.

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

Kristen M. Murphy

Director, Marketing

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

HFF closes $44.5 million sale of transit-oriented office property in Herndon, VA

Hernsdon Metro Plaza 1 and II, 196 and 198 Van Buren Street, Herndon, VA

Stephen Conley

WASHINGTON, DC,  June 6, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $44.5 million sale of Herndon Metro Plaza I and II, a two-building, 201,272-square-foot, Class A office property situated immediately adjacent to the future Herndon Metrorail Silver Line Station in Herndon, Virginia, a suburb of Washington, D.C. 

HFF marketed the property on behalf of Brandywine Realty Trust and procured an institutional investor to purchase the asset.  The asset was sold free and clear of existing debt.

Located at 196 and 198 Van Buren Street, Herndon Metro Plaza I and II overlook the Dulles Toll Road, providing exceptional signage opportunities for the 330,000 cars that pass the property on a daily basis. 

This location also has outstanding regional connectivity by way of the Fairfax County Parkway, Routes 28 and 7, and the Washington Beltway (I-495), all of which are within close proximity.

 Additionally, Washington Dulles International Airport is located approximately three miles from the property.  The four-story properties are 91 percent leased overall and offer parking for 663 vehicles in a mix of surface and structured spaces.

  

Jim Meisel

The HFF investment sales team representing the seller was led by Andrew Weir, Stephen Conley, Jim Meisel, Dek Potts and Matt Nicholson.

  

“The arrival of the Silver Line has been transformational for the Dulles Corridor, as tenants migrate to office properties surrounding existing and future Silver Line stations, driving strong positive absorption, decreasing vacancy rates and providing impressive rent growth,” said Andrew Weir, senior managing director at HFF.

 “Herndon Metro Plaza I and II are uniquely positioned to capitalize on this, with the asset’s rollover profile ideally concentrated in the time period surrounding the planned opening of Phase II of the Silver Line.  

"The asset will also be one of only 15 properties on the Toll Road with immediate walkability to a Silver Line Metrorail station.”

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

Kristen M. Murphy

Director, Marketing

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.brandywinerealty.com.

Franklin Street Closes Cloud Springs Shopping Center in Fort Oglethorpe, GA

 

John Tennant

 ATLANTA, GA (June 6, 2016) — Franklin Street announces the sale of Cloud Springs Plaza, a 113,000-square-foot neighborhood shopping center located in Fort Oglethorpe, Georgia. The property sold for $3 million.

John Tennant and Bryan Belk of Franklin Street represented the seller,Cloud Springs ACD, LLC, in the transaction. The buyer, America’s Realty, LLC, is a private investor out of Baltimore, Maryland.

“The buyer was able to acquire this property below market, which will give them a higher degree of success maximizing their return upon redevelopment,” Tennant said. “The buyer plans to add value through lease up of vacant space as well as potentially adding an additional outparcel.”

Tennant added that the upside in the deal attracted multiple buyers for the asset. “There is a large pool of buyers who continue to look for value-add opportunities through redevelopment and releasing well positioned older assets in secondary markets.” The deal closed in less than 90 days.

The property is located at 1503 Lafayette Road in Ft. Oglethorpe, Georgia. The property is situated near the Georgia-Tennessee border just 7 miles from Chattanooga on a ±12-acre site along US Route 27 at its intersection with Cloud Springs Road–the two primary routes within the city.

 Built in 1968, the property has excellent sight lines to Highway 27 with multiple points of ingress and egress throughout the property. The center is anchored by Big Lots, Badcock Furniture and AutoZone.

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

Kelsy Van Camp

813-839-7300, ext. 337

Kelsy.VanCamp@FranklinSt.com

@FranklinSt_llc

www.FranklinSt.com.

$2 Million Renovation Complete at Edgewater on Lanier Apartments in Gainesville, GA

Edgewater on Lanier Apartments, Gainesville, GA

Gainesville, GA (June 6, 2016) – The $2 million renovation of Edgewater on Lanier Apartments, a waterfront community in Gainesville, is now complete. The apartments, located on Old Thompson Bridge Road in Gainesville, have beautiful new amenities including a large park overlooking the water, a renovated clubhouse and fitness center, a new children’s playroom, a meeting center, upgraded interiors and more.

“We believe the additions bring out the best in the apartment community, making it one of the most appealing in the area,” said Elia Zinn, General Partner with Edgewater’s owner, The Griffin Fund. The privately-held residential real estate investment firm acquired the 180-unit community in September 2014. “These renovations were geared towards providing our residents the ultimate on lakeside apartment living.”

Walt Lamperski

A new dock offers short-term boat mooring for visitors, with direct access to the pool area. The new outside amenities will also include a children’s playground, dog playing area and dog spa, which are coming soon.

The newly-renovated 24-hour-access clubhouse has state-of-the-art fitness equipment, a lounge with Wi-Fi and a new business center – all overlooking Lake Lanier with wonderful views from the oversized windows. Renovations also include an updated laundry center that now opens into a newly added children’s playroom.

Interiors of the apartments are being renovated upon resident turnover. Changes include full kitchen upgrades, including new appliances and cabinets, as well as new flooring, luxurious paint schemes, backsplashes, lighting packages etc.

“We are proud to partner with Griffin Fund on renovating, leasing and managing Edgewater on Lanier,” said Stonemark President Walt Lamperski. “This is a beautiful property and we look forward to showing it off.”

A full grand opening is planned for June 11.

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

Terri Thornton

Partner, Thornton Communications

p:404-932-4347 | e:Terri@TerriThornton.com | w:www.TerriThornton.com

info@griffin-fund.com.

www.edgewateronlanier.com

Morris, Manning & Martin's Gerald Pouncey Named an Environmental Trailblazer in Atlanta, GA

Gerald Pouncey

Atlanta, GA  – The National Law Journal has named Morris, Manning & Martin, LLP partner Gerald Pouncey a 2016 Energy and Environmental Trailblazer. Pouncey heads MMM’s Environmental, Infrastructure and Land Use Practice.

He is widely-known for his work on the acquisition, disposition and/or the redevelopment of brownfields, which are properties with significant environmental impact, including state and federal superfund sites.

The Trailblazer designation is reserved for those who made a significant impact in their legal areas over their careers. Kenneth Gary, National Law Journal Vice President and Group Publisher noted in a special section featuring the honorees that the hundreds of lawyers were nominated. Only a few dozen made the cut.

“A common thread ties them together,” Gary wrote. “Each has shown a deep passion and perseverance in pursuit of their mission, having achieved remarkable successes along the way.”

The publication noted Pouncey’s “pioneer spirit” in launching an environmental practice near the time the 1986 Superfund Amendments were adopted. His many accomplishments include serving as lead environmental counsel for the Atlantic Station redevelopment in Atlanta, which is now a thriving live/work/play community.

Kenneth Gary

“We built a cleanup process and redevelopment model which allowed us to go forward and become a reality,” the publication quotes Pouncey as saying. “It has changed the midtown area permanently for the good.” He has represented clients in at least a dozen similar projects since.

The profile also notes his role in drafting brownfield legislation, which led to more than 600 sites being included in the program. 

As for future predictions, Pouncey told the publication he predicts more urban development with essential environmental components as millennials choose to live in an urban setting.

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

Terri Thornton

Partner, Thornton Communications

p:404-932-4347 | e:Terri@TerriThornton.com | w:www.TerriThornton.com

www.mmmlaw.com

HFF secures $21.3 million financing for Montclair Terrace in Portland, OR

                                                                                       

Montclair Terrace Apartments, Portland, OR            (Photo by  Red Studio Inc.)                       

                                                                                                       

 DENVER, CO – June 6, 2016 - Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $21.3 million in financing for Montclair Terrace, a 188-unit, garden-style apartment community in southwest Portland, Oregon.

HFF worked on behalf of the borrower, a REIT sponsored by Resource Real Estate, Inc. (“RRE”), to place the seven-year, floating-rate loan with Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. 

Erica Christensen

The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.  HFF previously brokered the sale of the property to the borrower in an all-cash transaction that closed late last year.

Eric Tupler

Montclair Terrace is located in the affluent, infill submarket of Raleigh Hills, which is prized for its short commutes to the Portland CBD, Beaverton and Hillsboro.  The opportunity exists to position the property as an affordable, well-amenitized alternative to the high cost of home ownership in the Portland market.

 The 20-building property has an extensive mix of studio-, one-, two- and three-bedroom floorplans.  The community’s resort-style amenity package includes a swimming pool and sundeck, two fitness centers, picnic/grilling area and community garden.

The HFF debt placement team was led by senior managing director Eric Tupler and associate director Erica Christensen.

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

Hold-Thyssen Negotiates Two Lease Agreements at Tampa Area Office Parks

Kevin Stipe

TAMPA, FL --- Hold-Thyssen Inc., a real estate services firm, recently negotiated lease agreements at two commercial centers in the Tampa Bay area for office space totaling 2,245 rentable square feet.

Kevin Stipe, industrial specialist in Hold-Thyssen’s Clearwater office, was the agent for Tenant BMCI Contracting, Inc. in a lease agreement for 1,304 square feet at the Park at Bay Plaza, 9620 Bay Plaza Blvd. off of East Adamo Drive at U.S. 301 in Tampa.  The Landlord of the 157,301 square foot office park is Tampa Adamo, LLC.

At Harbor Park Office Center, 33920 US Hwy 19 North in Palm Harbor, Stipe represented the Landlord Southwest Industrial Properties, Inc. in the lease of 941 square feet to financial advisor Gary Ross.

Hold-Thyssen based in Winter Park with offices in Clearwater, provides commercial property and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more than 100 commercial properties throughout the United States.

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

Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com