HFF secures $62.5 million financing for datacenter in Irvine’s California Airport area

Irvine Crossings, Airport Area, 17871 Von Karman Avenue and 17836 Gillette Avenue
Irvine, CA

Kevin MacKenzie

NEWPORT BEACH, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $62.5 million refinancing for Irvine Crossings, a 395,673-square-foot, single-story datacenter and industrial property in the Airport area of Irvine, California.

Working on behalf of the borrower, Menlo Equities, HFF placed the five-year, full-term interest only, fixed-rate financing with Deutsche Bank.

Irvine Crossings is situated on 21.16 acres at 17871 Von Karman Avenue and 17836 Gillette Avenue, one block north of the intersection of Von Karman Avenue and Main Street in Irvine’s Airport area. 

This location is less than one mile from John Wayne Airport and two blocks from Interstate 405.  Six other datacenters are located nearby making this area within Irvine one of the most desirable areas for datacenters in Southern California, behind downtown Los Angeles and El Segundo.

 The fully-leased building was renovated in 2000 and partially converted to a powered shell datacenter in 2013.  A datacenter operator and an internet technology company occupy the entire facility.

The HFF debt placement team representing the borrower was led by senior managing director Kevin MacKenzie and associate Jamie Kline.

Jamie Kline

“Datacenter usage provides a unique set of challenges in obtaining aggressive financing, but we were able to utilize the superior location, and best in class sponsorship, in order to drive the market and obtain an optimal combination of a low rate, full-term interest only and desired leverage,” said MacKenzie.

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

Kristen Murphy

Director, Marketing

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

tel 617.848.1572 | fax 617.338.2150 | www.hfflp.com

krmurphy@hfflp.com

www.menloequities.com.

JLL Expands Net Lease Platform to Phoenix; Peter Bauman and Tivon Moffitt join JLL as Senior Vice Presidents

Peter Bauman

PHOENIX, AZ,  Sept. 14, 2016 – Investors looking to diversify their portfolios, hedge against risk and secure higher yield are turning toward the net lease sector.

As an industrial hub and burgeoning retail powerhouse, the Southwest is offering investors a wealth of net lease opportunities. In response, JLL’s Capital Markets today announced Peter Bauman and Tivon Moffitt have joined the firm as Senior Vice Presidents.

Bauman and Moffitt will lead the firm’s net lease investment sales practice in Phoenix and report to Senior Managing Director and head of Phoenix’s investment sales platform Dennis Desmond and Managing Director and head of the Net Lease Property Group Thomas Beneville.

“As investors explore more conservative strategies, the security that net leased assets provide is becoming increasingly appealing,” said Beneville. “To best serve our clients, it is imperative that we continue expanding our net lease services to growing markets such as Phoenix.”

Added Desmond, “Peter and Tivon bring an impressive amount of experience to the Phoenix investment sales platform. Their ability to work proficiently across all asset classes allows the firm to service our clients more broadly in this burgeoning market.”

Tivon Mofitt

Bauman and Moffitt hold a combined 15 years of commercial real estate experience in tenant representation and investment sales join JLL from a leading international commercial real estate firm where they were directly involved with more than $400 million in sales volume since 2012. They are also joined by John Paul Mulhern, Associate.

Moffitt earned a bachelor’s degree from the University of Pennsylvania while Bauman earned his bachelor’s degree from Humboldt State University.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution.

In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv

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

Stacey Hershauer

  Phone:

 +1 480 600 0195

  Email:

 stacey@focusaz.com

www.jll.com

www.jll.com/phoenix

BOMA of Miami-Dade to Host 2017 Commercial Real Estate Outlook Forum Sept. 29 in Miami, FL

MIAMI, FL -- The Building Owners and Managers Association (BOMA) of Miami-Dade is hosting the 2017 Commercial Real Estate Outlook Thursday, September 29, 2016 at noon.

The forum which will focus on Florida’s future DNA of commercial real estate will be held at East Miami, 788 Brickell Plaza, Miami, FL 33131.

The event will showcase leading commercial real estate experts presenting on future industry trends in the areas of: office, retail, industrial, landlord, tenant representation and acquisitions.

This is an opportunity to hear predictions and expectations on the commercial real estate industry by top local, expert panelists who are the pulse of the market. Panelists will share both their expectations and marketing realities.

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

Maria Gomez

Executive Director BOMA Miami-Dade

mgomez@boma-miami.org

TEL: 305-200-8721

Meridian Capital Group Arranges $4 Million in Construction Financing for a Luxury Multifamily Property Located in Miami Beach, FL

Eric  Trombly

New York, NY, Sept. 14, 2016, – Meridian Capital Group, America’s most active debt broker, arranged $4 million in construction financing for the development of a luxury multifamily property located in Miami Beach, FL.

The five-year, interest-only construction loan, provided by a local balance sheet lender, features a fixed-rate of 4.50%. This transaction was negotiated by Meridian Vice President, Eric Trombly, who is based in the company’s Boca Raton, FL office.

Nobe Marina is planned to be a five-story luxury multifamily development, located at 8425 Crespi Boulevard in a low-rise residential area of Miami Beach, between South Beach and Bal Harbor.

This property offers the rare opportunity to develop a new construction building in a historic district of Miami Beach. Nobe Marina will be a waterfront property comprised of 16 two-story loft apartments with oversized terraces facing the Tatum Waterway.

The luxury apartments will feature panoramic views of the ocean and downtown Miami. Nobe Marina’s amenities will include 10 boat slips and 26 secured garage parking spaces.

“Our client is an experienced real estate investor but this is his first foray into multifamily development,” explained Mr. Trombly. “We leveraged our strong lending relationship with a local bank to successfully fund this exceptional project in an area that has limited luxury rental apartments,” he added.

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

Jonathan Stern

Meridian Capital Group

212/972-3600

jstern@meridiancapital.com

www.meridiancapital.com

Meridian Capital Group Arranges $5.9 Million in Acquisition Financing for the Purchase of a Comfort Inn Hotel Located in Orlando, FL

Noam Kaminetzky

New York, NY,  Sept. 14, 2016, – Meridian Capital Group, America’s most active debt broker, arranged $5.9 million in acquisition financing for the purchase of a Comfort Inn hotel located in Orlando, FL.

The five-year loan, provided by a balance sheet lender, features a LIBOR-based floating rate with interest-only payments in the first year followed by a 25-year amortization schedule.

 The loan also provides the ability for the borrower to fix the rate at any time over the loan term. This transaction was negotiated by Meridian Managing Director, Noam Kaminetzky, who is based in the company’s Boca Raton, FL office. 

Meridian also recently financed a Best Western, which is situated diagonally across the street from this hotel.

The six-story Comfort Inn hotel is a 112-room, 59,725 square foot property, located at 8134 International Drive in Orlando, FL. 

The hotel is situated on a prime section of International Drive and has become a gateway to many key attractions in central Florida. This includes the Orange County Convention Center, SeaWorld and Universal Studios. The hotel is located directly across the street from the Ripley Believe it or Not museum.

“The acquisition of this underperforming asset was a natural fit for the borrower,” explained Mr. Kaminetzky. “The addition of this Comfort Inn to the client’s portfolio allowed him to leverage his knowledge of the area and utilize his local operational resources to gain economies of scale and improve performance.”

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

Jonathan Stern

Meridian Capital Group

212/972-3600

jstern@meridiancapital.com

www.meridiancapital.com

  

Berkadia Completes $17.6 Million Sale of Jacksonville, FL Multifamily Property

Greg Rainey

JACKSONVILLE, FL  – Berkadia recently closed the sale of the multifamily property, Viera at Mandarin, for $17.6 million or $93,617 per-unit.  

Associate Director Greg Rainey of Jacksonville, Managing Director Cole Whitaker of Orlando, Senior Director Tal Frydman of Boca Raton, and Senior Director Jason Stanton of the Tampa office facilitated the sale.

The seller was Woodbridge Multifamily Partners, LLC based in Nashville, Tenn. and the buyer was Maxus Realty Trust, Inc. located in North Kansas City, Mo.

“With the influx of recent job announcements in northeast Florida, we are beginning to see more investors target Jacksonville as an opportunity to gain a foothold in an emerging market. 

"The buyer in this transaction saw an opportunity to grow their presence in Jacksonville by investing in one of the more highly sought-after submarkets in the city,” Rainey said

Built in 1984, the 188-apartment property features one- and two-bedroom units with four unique floor plans. The average unit size is 833 square feet and each has updated interiors with modern touches, such as granite counter tops, in-unit washer/dryer, a private patio or balcony and ample storage space. 

Tal Frydman

Select units also include an open floor plan with vaulted ceilings and wood-burning fireplaces. Community amenities include an indoor athletic center, swimming pool, a 21-acre lake with fountains and a deck and boat storage.

Viera at Mandarin is located at 4263 Losco Rd., affording convenient access to Old St. Augustine Rd. and Interstate 295. To the west, across the St. Johns River, is Naval Air Station Jacksonville and downtown Jacksonville is less than 20 minutes northwest.

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

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