HFF arranges financing for portfolio of 154 convenience and gas station sites in the Northeast

  

 

Andy Scott

 DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged post-acquisition financing for a portfolio of 154 convenience and gas station sites totaling 97.8 acres in the northeastern United States.

HFF worked on behalf of the borrower, a subsidiary of a private real estate investment fund advised by Crow Holdings Capital–Real Estate, to secure the five-year, floating-rate acquisition loan with 18 months interest only.  The loan was provided by a consortium of lenders, led by Capital One and BMO Harris.

The portfolio properties comprise 88 sites in New York, 45 sites in Massachusetts and 11 sites in Connecticut.  Additionally, there are seven sites in New Hampshire, two Rhode Island sites and one site in Pennsylvania.

 All 154 properties are subject to an absolute net lease for 20 years with a subsidiary of Petroleum Marketing Group, a leading jobber and distributor of petroleum products and operator of convenience stores.

HFF’s debt placement team was led by senior managing director Andy Scott and associate director Michael George.

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.crowholdingscapital-re.com.

Morris, Manning & Martin’s Real Estate Practice Ranked Nationally in Best Lawyers 2017

Louise Wells

Atlanta, GA – Morris, Manning & Martin’s Real Estate Group finished in Tier 1 of the 2017 U.S. News - Best Lawyers® Best Law Firms national rankings.

 It also finished in the top Tier of the Atlanta and Washington D.C. metropolitan rankings, and near the top for Savannah. 

Several other practice groups received national and local recognition.

In addition to the Tier 1 Real Estate Practice, these four groups received national rankings, as well as high metropolitan rankings:

• ·       Land Use & Zoning is in Tier 2 nationally and Atlanta’s Tier 1.
• ·       Construction is in Tier 3 nationally and Tier 2 in Atlanta.
• ·       Healthcare is Tier 3 nationally and Tier 1 for both Atlanta and Savannah.
• ·       Litigation - Banking & Finance is Tier 3 nationally and Tier 1 for Atlanta.

Several other facets of the firm’s Litigation practice are ranked highly for Atlanta. They are Product Liability - Defendants in Tier 1, Patent in Tier 2, and Intellectual Property in Tier 3.

These MMM practice groups also have strong showings:

• ·       The Leisure and Hospitality Group is in Tier 1 for Washington D.C. and Tier 2 in Atlanta.
• ·       The Environmental and Tax teams are both Tier 2 for Atlanta.
• ·       The International Trade and Finance Group is Tier 2 in Washington.
• ·       The Corporate and the Employment - Management groups are Tier 3 in Atlanta.

 The rankings, produced in conjunction with Best Lawyers and U.S. News & World Report, are based on a combination of client feedback, survey results and peer review.

“The fact that the firm ranks so highly in the annual rankings speaks well for our ability to serve our clients as their businesses change,” said the firm’s Managing Partner Louise Wells. “It also indicates that the firm itself is well positioned as we move forward.”

All of the rankings, in all tiers, are now online at http://bestlawfirms.usnews.com.

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

http://www.facebook.com/pages/Thornton-Communications/112101288827299 http://twitter.com/Ttho http://www.linkedin.com/in/TerriThornton Terri Thornton

Partner, Thornton Communications

Phone: 404-932-4347

Email: Terri@TerriThornton.com

Website: www.TerriThornton.com

www.mmmlaw.com

ATTOM Data Solutions Reports U.S. Foreclosure Activity Increases 27 Percent in October

Daren Blomquist

IRVINE, CA — ATTOM Data Solutions, curator of the nation’s largest fused property database, released its October 2016 U.S. Foreclosure Market Report™, which shows a total of 105,481 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in October, up 27 percent from a 129-month low in September but still down 8 percent from a year ago.

October marked the 13th consecutive month where U.S. foreclosure activity decreased on a year-over-year basis, but the month-over-month increase in October was the biggest monthly increase since August 2007.

Counter to the national trend, 28 states and the District of Columbia posted year-over-year increases in overall foreclosure activity in October, including New York (up 10 percent), Pennsylvania (up 20 percent), Ohio (up 4 percent), Georgia (up 22 percent), Virginia (up 15 percent), Massachusetts (up 11 percent), Arizona (up 17 percent), Indiana (up 3 percent), Wisconsin (up 3 percent), and Colorado (up 64 percent).

“While some states are still slogging through the remnants of the last housing crisis, the foreclosure activity increases in states such as Arizona, Colorado and Georgia are more heavily tied to loans originated since 2009 — after most of the risky lending fueling the last housing boom had stopped,” said Daren Blomquist, senior vice president at ATTOM Data Solutions.

 “The increase in October isn’t enough evidence to indicate a new foreclosure crisis emerging in these states, but it certainly demonstrates that this housing recovery is not completely devoid of risk.”

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

Jennifer von Pohlmann

949.502.8300, ext. 139

jennifer.vonpohlmann@attomdata.com

http://www.attomdata.com/

HFF closes sale of apartment community in suburban Portland, OR

 

Carrie Kahn

 PORTLAND, OR –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Sunfield Lakes, a 200-unit, garden-style apartment community in the southwest Portland suburb of Sherwood, Oregon.

HFF marketed the asset exclusively on behalf of the Berkshire Group.  Brookline Investment Group purchased the offering free and clear of existing debt.

Sunfield Lakes is located at 16100 SW Century Drive in the rapidly-growing suburb of Sherwood, less than three miles west of the renowned Willamette Valley wine country and approximately 15 miles southwest of Portland’s central business district.

 The property provides an easy commute to the Portland market’s major economic drivers, such as the Tualatin/Sherwood industrial hub, Legacy Meridian Park Medical Center, LAM Research Corporation and the Wilsonville submarket.

  Sunfield Lakes offers a mix of one-, two- and three-bedroom floor plans averaging 1,024 square feet each and community amenities, including an outdoor pool, hot tub, 24-hour fitness center, lounge and business center.

The HFF investment sales team was led by managing director Ira Virden and director Carrie Kahn.

Ira Virden

“Sunfield Lakes is an attractive, long-term investment opportunity located in a supply-constrained submarket with strong demographics that support future rent growth,” Kahn said. 

“The units are larger than average, and the expansive common area space positions it well for a value-add program that will further enhance its appeal in the market.”

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 | hfflp.com

ohennessey@hfflp.com

www.berkshire-group.com

Meridian Capital Group Arranges $12 Million in Financing for the Lincoln Park Office Property Located in Orlando, FL

 

Noam Kaminetzky

New York, NY – Meridian Capital Group, America’s most active debt broker, arranged $12 million in permanent financing for the Lincoln Park office property located in Orlando, FL.

The 10-year loan, provided by a local lender, features a fixed rate of 4.50%. This transaction was negotiated by Meridian Managing Director, Noam Kaminetzky and Vice President, Eric Trombly, who are both based in the company’s Boca Raton, FL office.

Lincoln Park, located at 8511 and 8523 Commodity Circle, are two-story office buildings totaling 132,193 square feet that are situated on 12.7 acres with notable tenant Universal Studios.

 Lincoln Park is traditionally known for its technology company offices and is a desirable space due its close proximity to the Orlando International Airport and major highways, including the Ronald Reagan Turnpike, Highway Interstate 4, Florida State Road 528 and the recently expanded U.S. Route 441.

“The borrower has owned the property for many years and this deal presented a major challenge because the property is occupied by only two tenants, one of which was vacating within the first year of the loan,” explained Mr. Trombly.

“Although several lenders could not overcome this obstacle, Meridian was able to demonstrate the strength of the deal to obtain favorable terms from a local lender where Meridian enjoys a strong relationship,” added Mr. Kaminetzky. “We were able to create a structure that the lender was comfortable with and still achieved the desired results for the borrower

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 $66.8 Million in Acquisition Financing for the Purchase of the Fountains at Piedmont Center Located in Atlanta, GA

The Fountains at Piedmont Center, Atlanta, GA

New York, NY – Meridian Capital Group, America’s most active debt broker, arranged $66.8 million of financing for the acquisition of a portfolio of four class-A office buildings known as the Fountains at Piedmont Center and located in Atlanta, GA, on behalf of The Ardent Companies.

The balance sheet financing, provided by ACORE Capital, features a competitive LIBOR-based interest rate with extension options.

This transaction was negotiated by Meridian Senior Vice President, Tal Savariego, and Vice President, Dani Sabesan who are both based in the company’s New York City headquarters.

Ideally located in the heart of Buckhead, one of the top-performing office markets in the Southeast, The Fountains at Piedmont Center is a four-building 550,000 square-foot office complex that recently underwent a $30 million capital improvement program and features large courtyards and open spaces conveying a campus-like feel within a class-A office complex. 

“The Ardent Companies has a strong track record of executing on value-add opportunities and is acquiring the complex at an attractive basis for long-term upside potential,” explained Mr. Savariego. “Meridian arranged for competitive balance sheet financing that provides long-term flexibility for prepayment and extension of the loan, as well as a good news facility for future funding as the investment strategy is executed,” 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

Volunteers from NAI Realvest Raised $3,000 and Participated in Helping Homeless Families and Veterans Eat Healthy in Central Florida

  Realvest Staff from left,  seated: Robin Richardson, Veronica Malolos  and standing: Jon Walls, Daniel Blackford, Patrick Mahoney, Chris Adams, Dee Figliolia.

KISSIMMEE. FL – NAI Realvest, based in Orlando, recently participated in a unique mission in conjunction with Osceola County Human Services to help homeless families and veterans who seek support services.

Veronica Malolos, broker at NAI Realvest in Osceola County, said a mix of brokers and employees of the firm raised $3,000 for the purchase of 200 new 4-quart crock pots that were distributed at a recent “Family Connect” event held in Kissimmee at Rock Church on West 192.

“The crock pots provide homeless and transitional homeless the ability to cook full healthy meals in hotels or motels for their families while juggling multiple jobs and lack of kitchen implements,” said Malolos.  

Second Harvest also donated 100 boxes of food that was distributed along with the crock pots at the event. 

Osceola County Human Services helps some 300 families and 50 veterans at the annual Family Connect Event with services ranging from childcare to job training and governmental and veterans benefit services including medical, legal and mental health.

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

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