$16.786 million construction loan for Class A apartment development in Vancouver, WA secured by HFF

Rendering of planned Heritage Villas Development in Vancouver, WA

Erica Christensen

PORTLAND, OR –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $16.786 million in construction financing for the development of Heritage Villas, a 135-unit, Class A garden-style apartment project in Vancouver, Washington.

HFF worked on behalf of the borrower, a partnership with developer Gregg Mecham and other local investors, to secure the construction financing with a regional bank.  Integrity Structures LLC is the general contractor and has already started construction on the project.

Due for completion in 2017, Heritage Villas will feature upscale one-, two- and three-bedroom units averaging 945 square feet each.  

Units will offer in-unit washers and dryers, stone countertops, dishwashers, fireplaces, air conditioning, and patios or balconies.

 Common area amenities will include a clubhouse with fitness center and business office, playground, walking trails, carports, garages and storage units.  Heritage Villas will be constructed on a 7.3-acre site at 2306 NE 78th Street just east of Interstate 5 in Vancouver’s historic and revitalized Hazel Dell neighborhood.

 The property is located within 15 miles of Portland International Airport and Portland’s central business district.

The HFF debt placement team representing the borrower was led by associate director Erica Christensen.

“We are excited about bringing this institutional-grade property to the marketplace,” said Gregg Mecham.  “We greatly appreciate HFF’s help in securing competitive construction financing.”

"Construction financing is more conservative today than it has been during the past few years; however, lenders can still offer competitive terms for well-thought-out projects in strong markets, like Heritage Villas,” Christensen said.

“With limited new apartment construction in Vancouver and continued strong in-migration to the market, we expect the property to perform very well.”

 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.integritystructuresllc.com.

HFF secures $75 million refinancing for One Hundred Oaks mixed-use center in Nashville, TN

One Hundred Oaks, South Nashville, TN

John W. Rose

DALLAS, TX  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $75 million refinancing for One Hundred Oaks, an 892,886-square-foot, mixed-use retail and medical office center in south Nashville, Tennessee.

HFF worked on behalf of the borrower, LaSalle Investment Management, to place the seven-year, floating-rate loan with JPMorgan Chase Bank, N.A.  Loan proceeds were used to refinance the existing debt previously arranged by HFF.           

One Hundred Oaks is a retail, entertainment and medical office center with medical office space accounting for more than 50 percent of the overall square footage.

  One hundred percent of the medical office space is leased to Vanderbilt University Medical Center, which achieved green design and construction industry benchmark certification for LEED-CI (commercial interiors).

John W. Rose

 The property was redeveloped in 2009 and 2010 as adaptive reuse and, in addition to Vanderbilt, is 99 percent occupied by Regal Cinemas, Burlington Coat Factory, Ross Dress for Less, T.J. Maxx, HH Gregg Appliances, PetSmart, Michael’s, K&G Men’s Company, Guitar Center, Ulta Beauty, Kirkland’s Home, Electronics Express, Chipotle, Regions Bank, Logan’s Roadhouse, Panera Bread and Panda Express.

Situated on 53.64 acres at 719 Thompson Lane in Nashville, One Hundred Oaks is off Interstate 65 and close to the intersection of 65 and the Four-Forty Parkway (Interstate 440).  The property is less than five miles from Vanderbilt University Medical Center’s hospitals in Nashville.

The HFF team representing the owner was led by senior managing director John W. Rose and director Campbell Roche.  

 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 arranges $35 million permanent financing for San Francisco Bay Area office and R&D property

Crossroads Technology Park, 3180--3280 Whipple Road, Union City, CA

Brandon Roth

SAN FRANCISCO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $35 million in non-recourse permanent financing for Crossroads Technology Park, a fully-leased office and R&D property totaling 322,318 square feet in the San Francisco Bay Area community of Union City, California. 

HFF worked on behalf of Woodstock Development, Inc. and Nearon Enterprises to place the seven-year, fixed-rate loan with a domestic money center bank.

Situated on 23 acres, Crossroads Technology Park is located at 3180-3280 Whipple Road in Union City approximately 19 miles south of Oakland and 30 miles southeast of downtown San Francisco.

 The property has easy access to Highways 880, 580 and 680 in addition to the Dumbarton and San Mateo Bridges.  Built between 2000 and 2001, Crossroads Technology Park consists of approximately 80 percent office finish, 10 percent lab and 10 percent warehouse with 18’ to 24’ clear heights, dock drive loading doors and floor-to-ceiling windows. 

The HFF debt placement team representing the seller was led by managing director Peter Smyslowski and associate director Brandon Roth.

 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.woodstockdevelopment.com

www.nearon.com.

Marcus & Millichap Arranges $1.12 Million Sale of 16-Unit Carmen Apartments in Tampa, FL

Jason Hague

TAMPA, FL, Aug. 4, 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 Carmen Apartments, a 16-unit apartment property located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $1,120,000.

Jason Hague, associate, Nicholas Meoli and Michael Donaldson, both vice president investments, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust.  

The buyer, a limited liability company, was secured and represented by Hague, Donaldson and Meoli. 

Carmen Apartments is a 16-unit multifamily apartment community located at 4303 West North A Street in Tampa, Florida. 

The property was constructed and is situated on approximately .41 acres of land.  Made up of one building, the unit mix consists of eight, one-bedroom/one-bathroom units with 600 rentable square feet and eight, two-bedroom/one-bathroom units with 900 rentable square feet.

Nicholas Meoli

“Through our broad reaching national marketing campaign, the Meoli-Donaldson team was able to bring nine offers to the seller within 48 hours of hitting the market.

“Due to the tremendous activity that we received, we were able to guide seven of those buyers to either at or above list price, eventually going under contract with a cash buyer in a 1031 exchange,” says Hague.

 “In order to keep their offer competitive, the ultimate buyer waived all inspection and financing contingencies up front and closed 15 days from the executed contract date on an all cash basis. 

"The assignment is a true indication of how competitive the current market conditions are and how Marcus & Millichap and our team can truly perform for our clients.”

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

Richard D. Matricaria

First Vice President / Regional Manager

 Tampa

(813) 387-4700

NAI Realvest Negotiates $2 Million Sale of Freestanding Former Millworks Building on West Colonial in Winter Garden, FL

  

Matt Cichocki

ORLANDO, FL — NAI Realvest recently handled the sale of the former Walker Brothers Millworks building at 12800 W. Colonial Drive in Winter Garden.     

Matt Cichocki and Kevin O’Connor, principals at NAI Realvest represented the Seller of the building constructed in 1981, and previously operating as Walker Brothers Millworks. 

The buyer was Occasions by Shangri-La, a full service event décor company who paid $2,000,000 for the property with 14,145 useable square feet and 2.21 acres.  

There were no other brokers.

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

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

Long-Term Tenant of SouthCourt, Neurocog Trials, Inc., Expands Lease in Durham, NC

  

 

Kaler Walker

 RALEIGH, N.C. (Aug. 4, 2016) — Neurocog Trials, Inc., has signed a 2,168-square-foot lease expansion and renewal at SouthCourt, a six-story, 146,000-square-foot office building located in Durham, North Carolina. The company now occupies a total of 19,871 square feet.

Kaler Walker and John Mikels of Lincoln Harris represented the landlord, DOF IV SouthCourt Buildings, LLC, in the transaction, and Robert Lacy of Borden Real Estate represented the tenant.

“Neurocog Trials, Inc., has been a long-term tenant at SouthCourt, and we are pleased that they continue to remain in the building as they grow,” Walker said. “The property’s prime location and fantastic amenities, including the panoramic views, fitness club and landscaped courtyard, make it a desirable property.”

SouthCourt showcases excellent views of Durham with the floor-to-ceiling glass windows and balconies connected to some offices. 

Located at the corner of Shannon Road and University Drive, the property offers easy access to Interstates 40 and 85, Duke University, Duke Medical Center, Research Triangle Park, Raleigh-Durham International Airport and the University of North Carolina at Chapel Hill.

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

Savannah Durban

The Wilbert Group

404-343-0870         

sdurban@thewilbertgroup.com

KIG Arranges $111 Million Joint Venture Partnership for 5.65-Acre Mixed-Use Development on Chicago’s Near West Side

  

Susan Tjarksen

CHICAGO, IL (Aug. 4, 2016) — KIG, Chicago’s leading commercial real estate brokerage firm specializing in institutional multifamily properties throughout the Midwest, today announced it has arranged an $111 million joint venture partnership to invest in and renovate Medical District Apartments, an existing 410-unit rental community in the heart of the Illinois Medical District on Chicago’s Near West Side, and ultimately develop a larger mixed-use project on the site.

The new venture includes the property’s owner, Guggenheim Real Estate LLC (GRE), as well as Atlantic Realty Partners and Focus Development Inc.

Located along Ashland Avenue between Polk and Taylor streets, the approximately 5.65-acre property includes two 12-story residential towers, as well as a pair of two-story garage decks under consideration for redevelopment.

In addition to repositioning the existing apartment buildings, which were built in 1972, the joint venture is proposing a multiphase development that would include a mix of residential unit types.

Medical District Apartments, Near West Side, Chicago, IL

“This site offers tremendous upside potential through a combination of value-add renovation and ground-up development,” said Susan Tjarksen, principal and managing broker at KIG.

“The joint venture between GRE, Atlantic Realty Partners and Focus Development will allow each to capitalize on continued demand for rental housing in downtown Chicago, particularly in areas like the Illinois Medical District, where high-quality jobs and public transportation are easily accessible.

“Ongoing investment on the Near West Side, including the proposed redevelopment of the Cook County Hospital, will only raise the profile of the neighborhood – and underlying real estate values – in the months and years ahead.”

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

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

Cara Mooses, cmooses@taylorjohnson.com, (312) 267-4523

www.kigcre.com.

www.goarp.com.

Charles Dunn Co. Brokers $6.7 Million Sale of 36-Unit Apartment Building in Winnetka, CA

  

 

Barry Rothstein

LOS ANGELES, CA, Aug. 4, 2016 – Charles Dunn Company, one of the largest full-service real estate firms in the western United States, has brokered the $6.7 million sale of a 36-unit apartment building in Winnetka, Calif. 

Barry Rothstein, managing director with Charles Dunn Company, represented both the seller and buyer in this off-market transaction. The property traded at $186,111 per unit and was acquired by a private, Northern California-based real estate company with an established portfolio of Southern California apartment buildings.

Rothstein ensured that the seller, a private investor from Southern California, located and entered into a 1031 exchange immediately after the close of escrow.

“This was a favorable deal for both the buyer and the seller,” said Rothstein. “The seller sold the property to free himself from several decades of apartment ownership and will be able to increase his income through the exchange. 

"Since the property is not subject to Los Angeles rent control, the buyer will be able to renovate the units as tenants move out and increase value.”

               Built in 1983, the two-story, garden-style apartment building occupies just under one acre of land and includes subterranean parking, a pool, newly installed solar energy systems, and a mix of large units with big patios and balconies.

The asset is well-located in a densely populated area comprised of multifamily, upscale housing, shopping amenities, and is convenient to Pierce College, public transit, and the 101,405, and 118 freeways.

The property’s location is further improved by its proximity to Westfield’s newly developed Village at Topanga, a 1.6 million square foot, two-story enclosed shopping center.

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

Darcie Giacchetto

949.278.6224

www.charlesdunn.com