HFF arranges $21.2 million construction loan for 74-unit multi-housing development in Oakland, CA

Alice Street Apartments, 250 17th Street, Lakeside Neighborhood, Oakland, CA

                                                                                              (Rendering by Kotas Pantaleoni Architects)

Colby Mueck

HOUSTON, TX – December 20, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $21.2 million in financing for Alice Street Apartments, a 74-unit, Class A, transit-oriented multi-housing development in Oakland, California.

HFF worked exclusively on behalf of the borrower, a joint venture between SIMEON and Lionstone Investments, to secure the non-recourse construction loan.

Alice Street Apartments is currently being constructed on a 0.41-acre site at 250 17th Street in Oakland’s upscale Lakeside neighborhood.  

The transit-oriented site has a WalkScore© of 99 and is convenient to the 19th Street BART station, Interstates 880 and 980, Amtrak and ferry service, connecting residents to major employment centers in downtown Oakland, San Francisco, Emeryville and Silicon Valley.

 With Lake Merritt and Broadway Street within a few blocks, the live-work-play property will also provide residents with access to numerous dining, nightlife and recreational options. 

The six-story property is due for completion in 2018 and will encompass 74 studio, one- and two-bedroom units averaging 788 square feet each.  Community amenities will include a secured, ground-level parking garage; electric vehicle charging stations; bicycle parking and repair; fitness center; private decks; common roof deck recreational space; and meeting space.

The HFF debt placement team representing the borrower was led by managing director Colby Mueck 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 | hfflp.com

ohennessey@hfflp.com

 www.lionstoneinvestments.com.

National City, CA Office & Warehouse Property Sold for $3.35 Million

Marissa Montano

SAN DIEGO, CA –– Colliers International San Diego Region announces the sale of a 12,468 square foot office and warehouse property located on 1.71–acres at 101 E. 30th Street, National City, CA (91950) for $3,350,000.

Chris Holder

Mark Lewkowitz and Chris Holder of Colliers International San Diego Region represented the San Diego-based seller, 30th & A, LLC. Marissa Montano of Fit Properties represented the San Diego-based buyer, Analog Properties, LLC. Wells Fargo provided financing.

“It’s a rare to find a single-story, freestanding flex property with above average parking in National City,” said Lewkowitz, Associate Vice President at Colliers International San Diego Region,

The recently renovated property features Class A interior finishes, fully fenced lot, and grade-level loading.  

 Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) is an industry leading global real estate services company with more than 16,000 skilled professionals operating in 66 countries.

With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide.

Mark Lewkowitz

Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.

Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. 

Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 11 consecutive years, more than any other real estate services firm.

For the latest news from Colliers, visit Colliers.com or follow us on Twitter: @Colliers and LinkedIn. To see the latest news on Colliers International in the San Diego Region, follow @Colliers_SD

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

Kenneth Moore

760-468-0394 

Kenny@HutchensPR.com

www.HutchensPR.com

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HFF arranges $209 million construction loan for the future global headquarters of McDonald’s Corporation in Chicago’s Fulton Market District

 

Michael Kavanau

CHICAGO, IL – December 19, 2016 - Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a $209 million construction loan for the development of 110 North Carpenter, the 567,000-square-foot future global headquarters of McDonald’s Corporation located in Chicago’s Fulton Market District.   

HFF worked on behalf of the developer, a partnership comprising Sterling Bay and institutional investors advised by J.P. Morgan Asset Management, to place the construction loan with Bank of America and Wintrust Financial. 

 HFF previously worked on behalf of the developer to secure construction financing through Bank of America for the Fulton West project, located six blocks northwest of 110 North Carpenter.

Scheduled for delivery in Spring 2018, 110 North Carpenter will consist of 485,000 square feet of office space as well as ground floor retail and underground parking. The building will also feature private outdoor terraces and a rooftop deck. 

 McDonald’s Corporation will relocate from its campus in Oak Brook to the nine-story creative office building, which will occupy the site previously home to Oprah Winfrey’s Harpo Studios. 110 North Carpenter is located just two blocks from the Morgan Street “L” station, providing connections to every major line in Chicago.

Tim Joyce

 The building also has superior access to the entire Chicagoland area being located less than one mile from Interstates 90, 94 and 290, Chicago’s primary interstates.  Additionally, tenant shuttle service to the two downtown commuter rail stations will be provided from 110 North Carpenter.

The HFF debt placement team representing the borrower was led by senior managing director Michael Kavanau, managing director Tim Joyce and associate director Christopher Knight.

“Due to the long-term lease and investment grade credit profile of this development as well as the best-in-class sponsorship and location, we received very strong interest from the lending community and were able to deliver terms and conditions superior to a traditional construction loan,” said Joyce.

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.sterlingbay.com

www.jpmorgan.com/institutional/global_real_assets

HFF closes sale of office property in historic Bon Air area of Richmond, VA

Stony Point II, , 9201 Forest Hill Avenue, Bon Air Area, Richmond, VA

 

Ryan Clutter

CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Stony Point II, a 50,237-square-foot office building in the historic Bon Air area of Richmond, Virginia.

HFF marketed the property on behalf of the seller, a partnership affiliate of Banyan Street Capital and funds managed by Oaktree Capital Management, and procured the buyer, Select Income REIT.  The property was purchased free and clear of debt and is now managed by The RMR Group. 

Located at 9201 Forest Hill Avenue, Stony Point II is less than 10 miles from downtown Richmond in the Stony Point II/Huguenot submarket of Richmond. 

The 6.036-acre site is surrounded by high-end residential neighborhoods and has a full array of retail amenities nearby, including Stony Point Shopping Center and Stony Point Fashion Park.  

The multi-story property is fully leased to Universal Leaf on a long-term basis.

The HFF investment sales team representing the seller was led by senior managing director Ryan Clutter, director Scot Humphrey and associate director Chris Lingerfelt.

“Stony Point II was competitively pursued by a deep pool of capital and offers stable long-term cash flow backed by strong credit,” Lingerfelt said.

“The Richmond market continues to be perceived favorably by institutional investors who recognize the region’s strong fundamentals and growing economic base,” added Humphrey.

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.banyanstreet.com.

www.oaktreecapital.com.

HFF closes $23 million sale of institutional-quality office property and land site within Regency Park in Raleigh-Durham, NC

  

400 Regency Forest, Regency Park, Raleigh-Durham, NC

 

Scot Humphrey

CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $23 million sale of 400 Regency Forest, a 111,639-square-foot, Class A office property within Regency Park in Raleigh-Durham.

 The sale also included an adjacent 11.23-acre development site that can potentially support up to 110,000 square feet of additional office development.

HFF marketed the property on behalf of the seller, Petrus Partners, Ltd., and procured the buyer, EPIC Regency LLC. 

400 Regency Forest is situated on 8.51 acres within the Regency Park office park, which is surrounded by the executive neighborhoods of Regency, MacGregor Downs, Lochmere and Prestonwood Country Club.

 This location, at the confluence of U.S. Highways 1 and 64, provides tenants convenient regional access as well as access to the local retail and entertainment amenity base in Cary. 

Completed in 2000, 400 Regency Forest is 96.4 percent leased to tenants including Caterpillar, Inc., which operates its corporate headquarters for their Building and Construction Products (BCP) division on site; Pentair, Inc. and Mediant Communications, Inc.  

Justin Good

The HFF investment sales team representing the seller was led by director Scot Humphrey, senior managing directors Ryan Clutter and Chris Norvell and managing director Justin Good.

“Class A office buildings in desirable areas of Raleigh-Durham such as Regency Park continue to be highly sought-after by investors looking to capitalize on the Research Triangle’s strong fundamentals,” commented Humphrey.

“We continue to see more and more institutional investors target Raleigh-Durham and the Carolinas overall,” added Clutter.  “We anticipate this trend not only continuing, but gaining momentum in 2017 as the region continues to outperform many of its peer markets.”

 Petrus Partners Ltd., along with its affiliate, Crown West Realty, LLC, is a vertically-integrated real estate and real asset fund management and operating company founded in 1992.  The Petrus-Crown West Group includes 50 professionals located in regional offices in New York, Denver, Phoenix, Tucson, and Spokane, Washington.

Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a North Carolina licensed real estate broker.

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

HFF closes sale of Hercules Campus West in Playa Vista, CA

Hercules Campus West, Silicon Beach Area,  Playa Vista, CA

JoAnn and Wayne Ratkovich  (Photo by Gettyimages)

LOS ANGELES, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Hercules Campus West, a historically significant four-building creative campus, leased to a multinational technology company, in Playa Vista, California, a master-planned community in Los Angeles’ “Silicon Beach.”

HFF marketed the property on behalf of the sellers, The Ratkovich Company and Penwood Real Estate Investment Management, LLC, and procured the buyer, a diversified Japanese corporate investor. 

Conceived during a prolific period of discovery and innovation under Howard Hughes, the buildings include the soaring, voluminous hangars in which Howard Hughes built the Hercules H-4 plane, also known as the “Spruce Goose.” 

Inside the envelope of these beautiful buildings, the tenant plans to build new state-of-the-art structures.  

Under Hughes, the hangars were home to amazing innovations in the fields of aircraft, communications, defense and satellite technology.  The next era of innovation will continue at Hercules Campus as it transitions from aerospace to cyberspace.

Wayne Ratkovich was the visionary behind the 2010 acquisition and restoration of the 28-acre campus containing 11 buildings formerly occupied by Hughes Corporation.  With an appreciation for both the history and inherent beauty in these dilapidated structures, Wayne and his capable team sought to transform these buildings into modern, cutting edge creative space. 

John Crump

The HFF investment sales team representing the seller was led by John Crump, Andrew Harper, Michael Leggett, Doug Bond and Ryan Gallagher. 

The buyer was represented by EGW Asset Management Inc. (EastGate | EGW), the global real estate representative to the buyer for all markets outside Japan. 

Per Reid Mackay of EGW, “The buyer focuses on long-term net leased assets in major global markets.  Hercules Campus has a superb and iconic profile and having an investment grade credit tenant was highly appealing.”

Founded in 1977 by current President/CEO Wayne Ratkovich, The Ratkovich Company’s (TRC) mission is to profitably produce developments that improve the quality of urban life.  TRC has developed properties valued at more than $1.6 billion over the course of its history. The Ratkovich Company is jointly owned by Wayne and Jo Ann Ratkovich and Steven C. Markoff.

 Penwood Real Estate Investment Management (PREIM) is a principal-owned firm dedicated to managing value-added real estate investments for the institutional marketplace.  PREIM focuses on taking quantifiable incremental risk to provide above market returns and executes value-added strategies in supply-restrained markets to achieve premium investment results.

 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

Marcus & Millichap Arranges $8.5 Million Sale of Orlando’s Willow Bend Apartment Community

           

Willow Bend Apartments, 4757 Silver Star Road, Orlando, FL

 

Michael Donaldson

ORLANDO, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Willow Bend, a 192-unit apartment community located in Orlando, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $8,525,000.

Michael Donaldson and Nicholas Meoli, both vice president investments in Marcus & Millichap’s Tampa office, procured the buyer.

“The sale of Willow Bend Apartments represented another transaction involving the ability of our team to identify value-add opportunities through our proprietary market analysis,” says Donaldson.

 “Having closed several transactions in the immediate area, we were cognizant of the pinnacle for area market rents and saw potential to raise rents substantially at Willow Bend both organically and through additional strategic renovations.”

“By working with one of our repeat clients and showing them this upside, we were able to identify outsized future returns in lieu of the underperforming trailing financials which ultimately led to another successful transaction,” adds Meoli.

Willow Bend is a 192-unit apartment community built in 1974 and located at 4757 Silver Star Road in Orlando, Florida. The unit mix consists of 168 one-bedroom/one-bathroom units with approximately 728 rentable square feet and 24 two-bedroom/one-bathroom units with approximately 734 rentable square feet.

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

Ari Ravi

Regional Manager, Tampa

(813) 387-4700