HFF closes $305 million sale of Novo Nordisk’s headquarters in Princeton, NJ

Novo Nordisk's North American Headquarters, Princeton, NJ

Andrew Scandalios

FLORHAM PARK, NJ,  Aug. 15, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $305 million sale of Novo Nordisk’s North American headquarters, a 761,824-square-foot, Class A office campus in Princeton, New Jersey.

HFF marketed the property on behalf of the seller, Intercontinental Real Estate Corporation.  In 2011, HFF worked on behalf of the seller to secure capital for the development of the property in a deal that was honored with NAIOP New Jersey’s Creative Office Deal of the Year award.

Novo Nordisk’s North American headquarters encompasses nine interconnected buildings situated on 58 acres at 800 Scudders Mill Road within the amenity-rich Princeton Forrestal Center Office and Research Park in the Princeton business and pharmaceutical corridor. 

The transit-oriented campus is less than one mile from Route 1, less than four miles from the Princeton Junction mass transit center and convenient to Interstates 95 and 295.

 Redeveloped in 2013, the LEED Silver-certified building features state-of-the-art technology, energy-efficient systems and design upgrades such as a new façade, 10-foot glass exterior walls and a two-story, 30-foot lobby with floor-to-ceiling glass. 

Tom Taranto

Campus amenities include a 267-seat cafeteria; fully-equipped fitness center; presidential suite and executive boardroom; covered parking; full concierge service; and 4,000-square-foot rooftop terrace with outdoor kitchen and dining patios.

The HFF investment sales team was led by senior managing directors Jose Cruz and Andrew Scandalios and managing director Kevin O’Hearn.

“The market continues to aggressively underwrite single-tenant assets in prime locations with exceptional credit, and we are honored to be the broker for the largest office sale in 2016,” said Cruz.  “The money chasing these deals is both domestic and international as this property profile has become a safe haven for capital.”

According to Tom Taranto, Chief Investment Officer of Intercontinental, “The HFF team was terrific to work with during the entire sale process.  Jose Cruz and his excellent team always place client interest first which lead, ultimately, to this highly-successful sale execution.  On behalf of our public pension and many union investors, we are proud and grateful.”

 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 $91.5 million sale of luxury apartment community in East Rutherford, NJ

The Monarch Apartments, Meadowlands Neighorhood, East Rutherford, NJ

 

Jose Cruz

 FLORHAM PARK, NJ, Aug. 15, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $91.5 million sale of The Monarch, a 316-unit, Class A, luxury apartment community located across from MetLife Stadium in the heart of the Meadowlands.

HFF marketed the property exclusively on behalf of the seller, a partnership between a New Jersey-based developer and an institutional owner.  The purchaser of the property was a private group.

The Monarch is situated on 15.8 acres at 100-120 Schindler in East Rutherford, New Jersey.  The six-story property is just off Route 3 near the New Jersey Turnpike/Interstate 95 exit within minutes of Route 17 and 21 and the Garden State Parkway, providing access around the State of New Jersey and into Manhattan. 

Completed in 2014, the 97-percent-leased property encompasses 316 units averaging 922 square feet each with best-in-class features, including large kitchens with stainless steel appliances and quartz breakfast bars, hardwood flooring, nine-foot ceilings, oversized windows, abundant closet space and in-unit washers and dryers. 

Community amenities include an outdoor swimming pool with sundeck, two outdoor courtyards with firepits and grilling stations, fitness center with yoga studio, lounge with bar and gaming area, children’s play room, business center, on-site sundries store, covered parking and two-story lobby with 24/7 concierge.

Kevin O'Hearn

 Additionally, the property offers residents shuttle service to Secaucus Junction, which provides train service into Manhattan and the surrounding area.

The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn, directors Stephen Simonelli and Michael Oliver and associate director Robert Borny.

“The Monarch is a very visible, high-quality multi-housing asset in the Meadowlands, which is one of Northern New Jersey’s most active markets,” according to Cruz.  “The quick lease-up of this property is evidence of the strength of the submarket.”

 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 $121 million sale and $49 million in financing for Orlando-area regional power center

The Crosslands Shopping Center, Kissimmee, FL 

Daniel Finkle

MIAMI, FL, Aug. 15, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $121 million sale and arranged $49 million in financing for The Crosslands, a 530,816-square-foot grocery-anchored power center in Kissimmee, Florida (Orlando MSA).

HFF marketed the property on behalf of the seller, O’Connor Capital Partners, in partnership with Tupperware Brands Corporation. 

The Hampshire Companies purchased the asset with O’Connor Capital Partners retaining an interest as well as management and leasing responsibilities for the property.

 Additionally, working on behalf of the new ownership, HFF placed a seven-year, fixed-rate loan with Principal Real Estate Investors.

Situated on 71 acres at 601-751 Centerview Boulevard (Phase I) and 740-874 West Osceola Parkway (Phase II), the recently-developed retail center is located at the intersection of West Osceola Parkway and Orange Blossom Trail (State Road 441), which serves as a regional retail epicenter for Kissimmee. 

The center is less than eight miles from Walt Disney World, Sea World and Universal Studios.  Phase I was built in 2014, with Phase II completion to occur in the fourth quarter of 2016.

 Overall, the two phases are 99 percent leased to a roster of national and regional retailers, including The Fresh Market, 24 Hour Fitness, Burlington Stores, Academy Sports, Havertys Furniture, Hobby Lobby, Marshalls, HomeGoods, Forever21 RED, PetsMart, Five Below, Boot Barn, Cheddar's Scratch Kitchen, Dollar Tree, Party City and Outback Steakhouse.

The HFF investment sales and debt team was led by senior managing director and co-head of HFF’s Retail Group Daniel Finkle, senior managing director Jon Mikula, managing directors Chris Drew and Michael Klein and associate director Brian Gaswirth.

“The Crosslands’ unique combination of location, accessibility and visibility made this an ideal position for several of the industry’s most sought after retailers and a highly-desirable investment opportunity,” Finkle said. 

“The Crosslands represents an exceptional opportunity to capitalize on the strong economic and demographic trends in one of the most sought after submarkets in the Southeastern United States,” said William Q. O’Connor, CEO of O’Connor Capital Partners.

 “Orlando is one of the top-performing markets in the country, with strong supply and demand fundamentals driving tremendous economic and employment growth, which is a positive indicator for continued top performance for well-located assets such as The Crosslands.”

 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.facebook.com/hampshireco

www.linkedin.com/company/the-hampshire-companies

Twitter @hampshireco

HFF secures financing for 170-unit multi-housing community in Eugene, OR

Broadway Place Apartments, West Broadway, Eugene, OR

Mona Carlton

 PORTLAND, OR, Aug. 15, 2016 - Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured financing for Broadway Place, a 170-unit multi-housing community situated near the University of Oregon in downtown Eugene.

HFF worked exclusively on behalf of Virtú Investments to secure a fixed-rate acquisition loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.  The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.

In addition to its location less than a mile from the University of Oregon, Broadway Place is ideally positioned along West Broadway within walking distance to more than 1.5 million square feet of retail and multiple public transit options.

  The community encompasses studio, one- and two-bedroom units averaging 715 square feet each and has approximately 13,000 square feet of ground-floor retail. 

The eight-building property has amenities, including community courtyards, elevator access, urban terrace gardens, bike storage and access to secure underground garage parking.

HFF’s debt placement team was led by senior managing director Mona Carlton and associate director Erica Christensen.

  

Virtú Investments (Virtú), a fully-integrated multifamily fund manager, was built to take advantage of today’s value-add apartment investment market. 

During the last 19 years, Virtú has acquired 108 assets valued at more than $1.5 billion, totaling more than 15,000 apartment units. 

Virtú’s unique platform includes in-house services, including acquisitions, finance, due diligence, asset management, in-house property management, efficiency retrofitting, information technology and accounting/tax preparation.

Erica Christensen

HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF).  HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.  

HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing.  For more information please visit hfflp.com or follow HFF on Twitter @HFF.

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 secures joint venture equity and construction financing for Class A multi-housing development in Charlotte, NC

Travis Anderson

CHARLOTTE, NC – Aug. 15, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged joint venture equity and construction financing for the development of Fountains at Ballantyne, a 245-unit, Class A multi-housing development in Charlotte, North Carolina.

HFF worked on behalf of the developer, Proffitt Dixon Partners, to arrange joint venture equity capital with The Carlyle Group.  In addition, HFF secured $29.102 million in construction financing for the partnership through TD Bank.

Fountains at Ballantyne will be located at 12135 N. Community House Road just north of Interstate 485 within Toringdon Office Park.

  Situated in the Ballantyne/Toringdon submarket, the property will be proximate to more than 5.98 million square feet of Class A office space and many large employers, including MetLife, SPX and Snyder-Lance Inc.

  Due for completion in summer of 2018, the property will have 245 studio, one-, two- and three-bedroom units within a four-story wrapped deck-style building. 

Units will feature 9’ to 12’ ceilings, expansive master closets, computer niche workstations, pantries and linen closets, stainless steel appliances, stand-up showers, in-unit washers and dryers and balconies/patios. 

Common area amenities include an 8,000-square-foot clubhouse and fitness center with yoga room; resort-style swimming pool with sun deck; courtyard with gas grills, bar and fire pit; fenced dog park and pet wash station.

The HFF debt and equity placement team representing the developer was led by senior managing director Travis Anderson, director Allan Lynch, managing director Justin Good and associate director Cory Fowler.

Allan Lynch

“Charlotte’s Ballantyne submarket is one of the most moved-to zip codes in the United States due to the influx of new development and steady job growth,” said Anderson. 

“Combined with its position within Toringdon Office Park and its proximity to Interstate 485, Fountains at Ballantyne is a unique live-work-play community strategically positioned for healthy lease-up and overall success once completed.”

“With extensive development experience between Proffitt Dixon and Carlyle, the property will benefit from the partnership’s detailed approach to development and the unique urban setting in Toringdon as they deliver the first multi-housing building incorporating structured parking within the submarket,” said Fowler.

  

“With only 650 units delivered in 2015 and only 570 planned over the next two years, the limited supply of new multi-housing development in the area will further increase the property’s appeal to renters,” added Fowler.

  

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.proffittdixon.com

           

HFF closes sale of hotel development site in Burlington, MA

Denny Meikleham

BOSTON, MA – Aug.  15, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of a hotel development site within the 3rd Ave development in the northern Boston suburb of Burlington, Massachusetts.

HFF marketed the property on behalf of the seller, Nordblom Company.

The development site is located on a “gateway” parcel within 3rd Ave, an urban, retail-walking street lined with restaurants, cafes, retail boutiques and other service amenities connected via pedestrian walkways and public green space.

 This was a strategic sale for 3rd Ave as it will bring a 147-room boutique hotel under the Archer brand that will be positioned as the highest quality hotel in the Burlington lodging market.

 The Archer brand is a new collection of boutique hotels that evokes the creative soul of its location with quirky, curated luxuries and a sincere staff dedicated to service. 

The Archer’s location within Burlington’s office corridor will provide steady demand from business travelers and its proximity to Interstate 93/Route 128, about 12 miles northwest of Boston, will draw in tourists seeking a unique boutique hotel experience.

The HFF investment sales team representing the seller was led by managing director Denny Meikleham and director Alan Suzuki.

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

National Retail Properties Inc. Declares Dividends for its 6.625% Series D Preferred and 5.70% Series E Preferred Stocks

Orlando, FL,  Aug. 15, 2016 -- The Board of Directors of National Retail

Properties, Inc. (NYSE: NNN),  a real estate investment trust, declared a cash dividend on its 6.625% Series D Cumulative Redeemable Preferred Stock of 41.40625 cents per depositary share payable September 15, 2016, to shareholders of record on August 31, 2016.

The Board also declared a cash dividend on its 5.70% Series E Cumulative Redeemable Preferred Stock of 35.625 cents per depositary share payable September 15, 2016, to shareholders of record on August 31, 2016.

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of June 30, 2016, the company owned 2,452 properties in 48 states with a gross leasable area of approximately 26.3 million square feet with a weighted average remaining lease term of 11.4 years. For more information on the company, visit www.nnnreit.com.

  

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

Kevin B. Habicht

Chief Financial Officer

(407) 265-7348