HFF closes $35.225 million sale of two premier office properties within Regency Park in Raleigh-Durham, NC

  

100 and 200 Regency Forest Drive within Regency Park, Cary, NC

 

Scot Humphrey

CHARLOTTE, NC – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $35.225 million sale of 100 and 200 Regency Forest Drive, two premier office properties totaling 207,347 square feet within Regency Park in Cary, North Carolina.

HFF marketed the offering on behalf of the seller, a joint venture between Starwood Capital Group, Trinity Capital Advisors and Vanderbilt Partners, and procured the buyer, True North Management Group, LLC.

100 & 200 Regency Forest are situated on 42.12 acres within the prestigious Regency Park office park in the Raleigh-Durham suburb of Cary.  Positioned along the U.S. Highway 1 corridor, the properties have regional access to Raleigh and Apex as well as the executive neighborhoods of Regency, MacGregor Downs, Lochmere and Prestonwood Country Club.

 Completed in the late 1990’s, 100 & 200 Regency Forest feature brick and tinted glass exterior construction, two-story atriums and parking ratios of up to 4.35/1,000 rentable square feet.  

The tenancy is dominated by credit tenants focused in STEM industries including Cadence Design, MicroMass Communication, MercuryGate International, Crown Castle and Garmin International. 

Ryan Clutter

The HFF investment sales team representing the seller was led by Scot Humphrey, Ryan Clutter, and Chris Norvell.

“Regency Forest is one of many recent transactions in the Carolinas that was aggressively sought after by investors, many of whom still feel like the area is priced favorably compared to some of our peer markets such as Austin and Nashville,” said Humphrey. 

“The HFF Carolinas office currently has more than 2.8 million square feet of office buildings in escrow with buyers, illustrating the healthy amount of capital targeting the region.”

 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.trinitycapitaladvisors.com.

www.starwoodcapital.com.

HFF arranges joint venture equity for recapitalization of River Oaks District in Houston, TX

 

River Oaks District, Houston, TX

Trey Morsbach

DALLAS, TX – June 23, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged joint venture equity for the recapitalization of River Oaks District, a 650,000-square-foot, luxury mixed-use development in Houston, Texas.

HFF worked exclusively on behalf of the developer, OliverMcMillan and its equity partner, to arrange joint venture equity for the recapitalization of the property from institutional investors advised by J.P. Morgan Asset Management.  HFF previously arranged construction financing on behalf of the developer in 2013.

Completed in late 2015, River Oaks District is on the northeast corner of Westheimer Road and Westcreek Lane in Houston’s Inner Loop (Interstate 610).  Situated on 14.5 acres, the property is adjacent to the Galleria office and retail district and River Oaks neighborhood, which is the city’s most exclusive residential area.

  The luxury project encompasses 302,000 square feet of retail, fine dining and entertainment space leased to high-end tenants, including Hermès, Cartier, Dior, Chopard, Tom Ford, Patek Philippe at deBoulle, Dolce & Gabbana, Harry Winston, Diptyque, Bruno Cucinelli, iPic Theaters, Equinox, Flow Juice Bar, Hopdoddy Burger Bar, Le Colonial, Steak 48, Taverna and Toulouse Café and Bar. 

Bill Fishel

The project is also home to 66,000 square feet of state-of-the-art boutique office space and the Grey House at River Oaks District, a 279-unit, two-building contemporary residential community.

  Visually inspired by the grey hues used in the design of Renzo Piano’s renowned Menil Collection building in Houston’s Museum District, Grey House features luxury finishes and amenities, including two lap pools, fitness center, yoga room, clubhouse, screening rooms, conference room and concierge service.

The HFF equity placement team representing the developer was led by senior managing director Trey Morsbach and director Bill Fishel.

 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.am.jpmorgan.com/us/institutional/investment-strategies/alternatives-global-real-assets.

www.olivermcmillan.com

www.riveroaksdistrict.com

Griffin-American Healthcare REIT IV Enters Agreement to Acquire Rochester Hills Medical Office Building Near Detroit

  

Danny Prosky

DETROIT, MI – American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT IV, Inc., announced the REIT has entered into an agreement to acquire Rochester Hills Medical Office Building, an approximately 30,000-square-foot medical office building in the Detroit suburb of Rochester Hills, Michigan, from an unaffiliated third party.

The acquisition is subject to customary closing conditions and the satisfaction of other requirements as detailed in the agreement. 

“Strategically located in close proximity to two major hospitals, in an affluent community and anchored by the state’s largest health system, Rochester Hills Medical Office Building is an ideal acquisition for Griffin-American Healthcare REIT IV,” said Danny Prosky, a principal of American Healthcare Investors and president and chief operating officer of Griffin-American Healthcare REIT IV.

 “Excellent location and exceptional tenants are the keys to successful real estate investment, and we couldn’t be more pleased to move forward with the acquisition of Rochester Hills Medical Office Building.”

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

Damon Elder

SVP, Marketing & Communicatons

American Healthcare Investors, LLC

18191 Von Karman Ave., Third Floor

Irvine, California 92612

(949) 270-9207 direct

(714) 356-1460 mobile

delder@ahinvestors.com

www.AmericanHealthcareInvestors.com

NAI Realvest Closes on Acquisition of Two Industrial Buildings for Investment Buyer in Longwood, FL totaling $1.45 Million

         

Paul P. Partyka

 LONGWOOD, FL. --- NAI Realvest recently represented the investment buyer of two industrial buildings totaling 28,300 useable square feet purchased for $1,450,000, located on Timocuan Way off of Ronald Reagan Blvd. in Longwood.

 

Paul P. Partyka, Partner at NAI Realvest and Associate Juan Jimenez negotiated the sale representing the local Buyer, Norelli Properties, LLC.   

 Partyka said Norelli Properties is expanding their investment holdings in anticipation of increased real estate values along the 17-92 corridor with approaching commercial development.

The 1640 Timocuan Way building with 14,025 square feet was built in 1999 and the 1644 Timocuan Way building, with 14,275 square feet was built in 1988.

The seller was represented by Mark Harkins of Harkins Commercial, LLC.

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

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

  

Bayer Properties Places Alabama Land Across from The Summit Birmingham Under Contract

 

Jeffrey Bayer

BIRMINGHAM, AL — Bayer Properties announced today that it has placed an approximately 125-acre tract of land along Highway 280 across from The Summit Birmingham under contract. 

A significant portion of the tract is being sold by AT&T in connection with its plan to relocate various offices within Birmingham.

“We will be working with local officials and doing the necessary due diligence prior to formalizing plans for the site located across Hwy 280 from The Summit,” said Jeffrey Bayer, President & CEO at Bayer Properties.

David Silverstein, principal at Bayer Properties, added, “We certainly understand the sensitivity around development in this location, and our goal is to create a project that will be complementary to The Summit and surrounding areas and will be a true amenity for the community.”

In addition to this new site, Bayer Properties is also redeveloping The Pizitz in downtown Birmingham. The historic former department store is being transformed into apartments, creative office space and a food hall.

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

Savannah Durban

The Wilbert Group

 Tel: 404-343-0870

sdurban@thewilbertgroup.com

www.bayerproperties.com

Charles Dunn Co. Completes $2.4 Million Sale of 12-Unit Apartment Property in East Hollywood Submarket of Los Angeles

  

4351 Normal Avenue, East Hollywood, Los Angeles, CA

LOS ANGELES, CA – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the nearly $2.4 million sale of a fully occupied 12-unit apartment property located at 4351 Normal Ave. in the East Hollywood submarket of Los Angeles.

Bryan Glenn, senior director with Charles Dunn Company, represented the seller, a private Los Angeles-based investment company. The 1031 exchange buyer, a Los Angeles-based private investor, was represented by Nourmand & Associates. The closing cap rate was 5.4 percent and the price per unit was approximately $200,000.

Bryan Glenn

“The East Hollywood neighborhood has been seeing a strong amount of gentrification recently, attracting young Millennials who are seeking updated apartments like this one,” observed Glenn.

 “This trend allowed the seller to achieve favorable rental rates and therefore he decided to take advantage of the elevated property value created by these rents by selling the asset.  We attracted a buyer who liked the great condition of the property and cash flow, and believes growth trends for the area will continue.” 

Built in 1918, the renovated property includes four studio units, two one-bedroom units, and six two-bedroom units. It is located in a prime location near the 101 Freeway and is just four blocks from the Red Line Metro station.

It also offers easy access to Silver Lake and Koreatown and is walking distance to LA City College, which is undergoing significant campus improvements such as a new and advanced technology learning facility, expanded athletic/fitness, and child development centers.

  

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

Darcie Giacchetto

949.278.6224

www.charlesdunn.com