Tuesday, March 14, 2017

Marcus & Millichap Brokers Sale of 5,000-SF United States Post Office in North Carolina

U.S. Post Office, Pink Hill, NC

Raj Ravi
PINK HILL, NC, March 14, 2017 – 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 a 5,000-square foot United States Post Office located in Pink Hill, North Carolina, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $632,000.

Daniel Hurd, associate in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller.  The buyer was secured and represented by Douglas Diffie, associate, and Bruce Bentley III, senior associate, both in Marcus & Millichap’s Austin office.  Raj Ravi, broker, assisted in closing this transaction.

“We have been successful in creating a market for several United States Post Office dispositions in recent months and are extremely happy with the results of this sale,” says Hurd. “I was excited for the opportunity to collaborate with two agents from our Austin, Texas office who procured the buyer.”

The United States Post Office is located at 5951 Hwy 11 South in Pink Hill, North Carolina. The property consists of 5,000-square foot building constructed in 1999-2000 and sits on 2.3 acres of land.

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

Ari Ravi
Regional Manager

(813) 387-4700

HFF secures acquisition financing for mixed-use hotel, office and outparcel asset near St. Louis, MO

Le Chateau, Frontenac, MO

 CHICAGO, IL, March 14, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged financing for the acquisition of Le Chateau and the Hilton St. Louis Frontenac, a mixed-use hotel, office and outparcel asset totaling 325,000 square feet in the St. Louis-area community of Frontenac, Missouri.

HFF worked on behalf of the borrower, Bucksbaum Retail Properties, to place the four-year, fixed-rate loan with Ladder Capital.  

Dan Kaufman
The 92.2-percent-leased asset comprises the 263-room Hilton St. Louis Frontenac, the Le Chateau 80,000-square-foot office building, a 7,132-square-foot Triad Bank outparcel lease and two Wells Fargo ground leases that total 60,078 square feet. 

The Hilton St. Louis Frontenac features 25,000 square feet of flexible meeting space, a state-of-the-art fitness center, seasonal outdoor pool, 24/7 business center and full-service restaurant located at 1335 South Lindbergh Boulevard.

 Completed in 1974, the hotel has undergone renovations throughout the years.  The most recent renovations between 2012 and 2016 included enhancements and upgrades to the common areas and guest rooms.

 Le Chateau, which is famous for its open-cage elevator with intricate metal work, contains offices, retail space, a health club, restaurant, catering company and beauty salons.

  Located at 10403 Clayton Road, the building’s French village-style atmosphere is aided by 100-year-old bricks recovered from an abandoned local brewery that are part of the building’s exterior and a grand, open-air atrium detailed with railing made from genuine, hand-wrought Belgium iron. The Wells Fargo ground leases consist of 10401 and 10369 Clayton Road.

The property is situated on a total of 16.5 acres bound by Interstate 64, South Lindbergh Boulevard and Clayton Road in Frontenac, approximately 10 miles from both downtown St. Louis and Lambert – St. Louis International Airport.  The property is also immediately adjacent to Plaza Frontenac, a luxury shopping center anchored by Saks Fifth Avenue and Neiman Marcus. 

Jeff Bucaro
The HFF debt placement team representing the borrower was led by managing director Danny Kaufman and director Jeff Bucaro.

“We were thrilled to work with the team at Bucksbaum Retail Properties to secure this financing,” Kaufman said.  “Le Chateau is a landmark asset in St. Louis.  It will clearly continue to thrive and transform under Bucksbaum’s leadership.”

“The lending team at Ladder Capital performed flawlessly and really stepped up to support the acquisition process,” Bucaro added.

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

Kristen Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | cell 617.543.4873 | www.hfflp.com

Pulte Homes Now Pre-Selling: the Estates at Lake Pickett in East Orlando, FL

Lyndsey Patterson

 Orlando, FL --- Pulte Homes recently started pre-selling luxury single-family homes at Estates at Lake Pickett, an exclusive lakefront community located at the corner of Chuluota Rd. and Old Lake Pickett Rd. off of State Road 50 in East Orlando. 

Lyndsey Patterson, director of marketing for PulteGroup’s North Florida division, said Estates at Lake Pickett offers Pulte’s Life Tested® home designs on half-acre to one-acre homesites in a gated community.  Several lakefront home sites are available.

Pulte is currently selling its Signature Series of home designs at Estates at Lake Pickett including the Casabella, a two-story home with six to seven bedrooms, four-and-a-half to five-and-a-half baths, in 5,144+ square feet of living area; the single-story Dockside with from three to six bedrooms, two to five bathrooms, in 2,684 square feet, and the two-story Mariner with from four to six bedrooms, two to six bathrooms, in 3,811+ square feet.  

Three-car garages come with each home in the Signature Series which features a plethora of options and Pulte’s Life Tested features to customize the selected home design.  

Estates at Lake Pickett,  East Orlando, FL
New homes at the Estates at Lake Pickett are priced from $359,990.

Estates at Lake Pickett and the adjacent Lake Pickett Reserve are exclusively the only new home communities on Lake Pickett, “It’s one of the most beautiful residential areas remaining in the region,” Patterson added.

The Estates at Lake Pickett boasts a private community boat ramp to Lake Pickett, a playground and picnic table.  New home owners at the community will enjoy convenient access to the Waterford Lakes shopping center, the University of Central Florida, downtown Orlando, Lake Mary and Lake Nona’s Medical City.

The Estates at Lake Pickett is expected to officially open in the spring.  Meanwhile, pre-selling is taking place in the neighboring community sales center of Lake Pickett Reserve, 18307 Lake Pickett Rd. Orlando Fl 32820. 

To learn more visit www.pulte.com/EstatesAtLakePickett  or call 866-736-4994.

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

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

HFF closes $86 million sale of 350-unit multi-housing community in Broomfield, CO

Stonegate Apartments, Broomfield, CO

DENVER, CO,  March 14, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Stonegate, a 350-unit, garden-style multi-housing community in Broomfield, Colorado.

HFF marketed the asset exclusively on behalf of the seller.  Summit Management Services, Inc. purchased the property.

Jordan Robbins
Stonegate has 18 two- and three-story buildings offering a mix of one-, two- and three-bedroom apartment homes with attached and detached garages. 

The 24-acre property is located at 11815 Ridge Parkway less than three miles west of Highway 36.  Stonegate, the approximate midway point between downtown Denver and Boulder, offers sweeping views of the Rocky Mountain Front Range. 

The property is just west of Interlocken Business Park, which is northwest Denver’s most prominent office park with more than four million square feet of office space, and Flatiron Crossing, which comprises more than two million square feet of retailers, dining, hotels and entertainment options.

 Community amenities include a resort-style swimming pool, hot tub, grilling area, playground, dog park, 24-hour fitness center, resident lounge with full kitchen and fireplace, and sweeping views of the Rocky Mountain Front Range.  The property is 95 percent occupied.

The HFF investment sales team representing the seller was led by managing director Jordan Robbins and associate director Jeff Haag.

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

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | hfflp.com


Aurora Sunny Isles Beach Boosts Florida Sales Team with Addition of Raquel Cohen

Raquel Cohen

SUNNY ISLES BEACH, FL – Aurora Sunny Isles Beach has announced the hiring of Raquel Cohen as a sales executive with its growing team.

The addition comes at a time when Aurora developer Verzasca Group is receiving tremendous demand at the Sunny Isles Beach project, which is being developed as part of an intimate collection of boutique residences, along with Le Jardin Residences and Pearl House in Bay Harbor Islands.

John Warsing
Cohen brings a wealth of real estate experience to Aurora’s sales team, which is led by Director of Sales John Warsing. A native of Caracas, Venezuela, Cohen has a 15-year real estate sales and sales management track record, with a specialty in selling high-quality luxury projects.

A graduate of Florida International University with a bachelor’s degree in Public Relations, Cohen is fluent in English, Spanish and Hebrew and is a cancer survivor with a passion for helping others.

“We are thrilled to expand our sales team with addition of Raquel as a premier sales executive in the luxury real estate market,” said Verzasca Managing Director Tim Lobanov. “Raquel represents a tremendous addition to the team, which is well-positioned to accommodate buyer demand.”

Aurora is a new luxury condominium project with 61 residences at 17550 Collins Avenue in Sunny Isles, one of the world’s most sought-after destinations. The boutique building’s two and three-bedroom residences range from 1,385 to more than 2,150 square feet. Prices start in the $900,000s, making it the most attainable luxury project on Sunny Isles.

Tim Lobanov
Le Jardin and Pearl House are new boutique residences situated in Bay Harbor Islands.

A 30-residence community at 1150 and 1160 102nd Street, Le Jardin has two and three-bedroom units ranging from 1,385 to 2,235 square feet. Pearl House is an exclusive 15-resident community at 11701 101st Street and offers two-, three- and four-bedroom apartments.

The projects feature amenities such as a private garden, rooftop swimming pool and panoramic views of the Atlantic Ocean, Downtown Miami, Bal Harbour, Miami Beach and Key Biscayne.

Both Le Jardin and Pearl House are located in Miami-Dade County’s top school district, with Ruth K. Broad K-8 Center within walking distance. 

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

Eric Kalis: ekalis@boardroompr.com, 954-370-8999
Jessica Shein: jshein@boardroompr.com, 954-370-8999

Capital Square 1031 Completes Two Medical Office DST/1031 Exchange Offerings in Alabama and North Carolina

Louis Rogers
RICHMOND, Va. (March 14, 2017) – Capital Square 1031 announced today that its Delaware statutory trust offerings, CS1031 Birmingham MOB, DST and CS1031 Kinston MOB, DST, each comprised of a medical office building occupied by affiliates of Fresenius Medical Care in Alabama and North Carolina, respectively, have been fully subscribed by investors.

Capital Square 1031 has closed 32 DST offerings since its founding in late 2012.

“Each of these offerings include real estate occupied by the world’s leading provider of dialysis services and products for people with chronic kidney failure, which has 2,249 dialysis clinics across North America,” said Louis Rogers, founder and chief executive officer of Capital Square 1031.

“Dialysis is the life-saving process for artificially cleaning blood for patients with chronic kidney disease. The properties are well-located near doctor’s offices and hospitals, providing convenient access to patients, their caregivers and healthcare providers.

“We are pleased to complete these offerings and provide a growing number of investors with ownership of investment-grade, recession resistant real estate.”

CS1031 Birmingham MOB, DST acquired a newly-constructed, 8,140-square-foot medical office building that was built-to-suit for Fresenius Medical Care. Located at 3671 Roosevelt Blvd. in Birmingham, Alabama, the property is leased on a net basis for a base term of 15 years, plus extensions. Capital Square leveraged the property for exchange investors who need debt to obtain complete deferral under Section 1031 of the Internal Revenue Code. 

CS1031 Kinston MOB, DST acquired a 10,880-square-foot medical office building located at 604 Airport Road in Kinston, North Carolina, a Certificate of Need state. The clinic, which is one of the company’s largest dialysis clinics in North Carolina, is a flagship location for Fresenius.  Capital Square acquired the property in an all-cash (no debt) purchase for exchange investors who do not need debt to obtain deferral under Section 1031. 

“A growing number of exchange investors are seeking an all-cash, no debt, replacement property,” said Rogers.  “An ‘all-cash’ replacement property was almost unheard of five years ago.”

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

Julie Leber                                                                         
Spotlight Marketing Communications                    
949.427.5172, ext. 703