Wednesday, April 19, 2017

Western National Group Appoints Industry Expert Dan Reynolds as Executive Managing Director to Develop and Expand Capital Relationships

Daniel J. Reynolds
IRVINE, CA, April 19, 2017 -- Western National Group has appointed Daniel J. Reynolds as its Executive Managing Director.  In his new role, Reynolds will be responsible for building and maintaining capital relationships, as well as coordinating the firm’s various investment strategies and opportunities with domestic and foreign investor clients.

Previously, Reynolds was Head of Client Capital at Blue Vista Capital Management and Managing Director of LaSalle Investment Management’s Global Client Services group, both based in Chicago. 

Western National plans to enhance its business opportunities and geographic footprint through the implementation and execution of a capital program that expands its investor base with a particular emphasis on institutional capital, both in the US and abroad, according to Michael K Hayde, ChiefExecutive Officer of Western National.

“Dan brings not only extensive experience and relationships across many sectors of the real estate industry, but more importantly an understanding and appreciation of our culture of honesty and integrity and the value of long-term relationships,” notes Hayde. 

Mike Hayde

Reynolds has more than 28 years of experience in investment banking, structured finance and capital formation.  He has worked with many of the top organizations in the investment industry, including major public and corporate pension funds, global financial institutions and insurance companies, foundations and endowments and public REITs. 

Since 1993 Reynolds has focused primarily on the real estate industry, representing institutional and commercial real estate owners in developing and implementing their capital and investment strategies.

Western National Group is a 59-year-old, fully-integrated multifamily acquisition, development, construction and property management firm headquartered in Irvine, Calif.  Western National Group is one of the nation’s larger multifamily owners/developers. Additional information is available at.

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

Katie Kea / Elisabeth Manville
Brower, Miller & Cole
(949) 955-7940

29th Street Capital Acquires Sugarloaf Trails Apartment Homes; Community is Firm’s Eighth Atlanta-Area Property

Sugarloaf Trails Apartment Homes, Duluth, GA

Duluth, GA – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Sugarloaf Trails Apartment Homes in Duluth, Georgia.

Duluth is one of the fastest growing suburban communities in Atlanta and is located within the highly-regarded Gwinnett County School District. The 268-unit community was constructed in 2000 and offers one-, two-, three- and four-bedroom units.

Javier Bustillo
29SC plans to implement a $1.2 million capital improvement program to improve curb appeal, property amenities and unit interiors. 29SC will also implement energy-efficient upgrades through the Freddie Mac Green financing program.

“We are excited to expand our presence in Atlanta through the acquisition of Sugarloaf Trails,” said Javier Bustillo, 29th Street Capital’s Senior Vice President of Acquisitions for Atlanta and Houston. 

“We really like the fundamentals of this submarket and the asset’s position within it. We are excited to be able to create value for our investors and close on another community that fits our company’s vision.”

Sugarloaf Trails is located approximately 30 miles northeast of downtown Atlanta and is adjacent to I-85. The Duluth submarket has experienced positive rent growth since 2011, including surpassing at least 6% annual growth each year since 2013. As rents continue to increase, Sugarloaf Trails provides one of the most affordable rental housing options in Duluth for families that are seeking access to one of the top school systems in the state.

“Duluth is a desirable community with great retail, expanding job opportunities and an excellent school system,” Bustillo added. “The property will provide residents with an affordable option to live in a very desirable location.”

The transaction closed Apr. 17. The sale price was not disclosed. The community is located at 2255 Satellite Blvd. in Duluth.

29th Street Capital acquired 15 multifamily assets over the past 12 months and continues to actively pursue additional opportunities throughout the U.S. The firm will continue to target strategic value-add deals that are below the institutional radar, with the intention of offering its investors above-market returns.

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

Terri Thornton
Partner, Thornton Communications
Phone: 404-932-4347

MMM Represents WRS, Inc. in Successful Acquisition of Underground Atlanta

Rendering of Underground Atlanta Project, Atlanta, GA

Andrew Williams
Atlanta, GA – The real estate team of Morris, Manning & Martin helped close one of the most  prominent real estate deals in Atlanta recently when it successfully represented WRS, Inc. in acquiring Underground Atlanta from the City of Atlanta.

The deal involved two years of negotiations focused on approximately 40 different parcels of land and included air rights above rapid rail and railroad tracks, underground streets and commercial spaces, abandoned roads and alleys, elevated viaducts, springing property rights, tenancies-in-common between the city and the county, and environmental considerations.

 Interacting with the various applicable governmental entities added further layers of complexity, including zoning issues, political considerations, and accommodations to neighborhood activists. Atlanta Mayor Kasim Reed said earlier this year that it was the most complicated real estate deal the city has ever undertaken.

"There were a lot of twists and turns,” said Andy Williams, who led the MMM team that represented WRS, Inc. “The challenges included the historic nature of the property, including the history of its ownership. It’s honeycombed by rights of way and interests owned by third parties. Because of its configuration, there were a lot of challenges you wouldn’t typically see in an individual deal – or even dozens of deals."

Gerald Pouncey
WRS approached MMM to handle the complicated transaction because MMM had the necessary talent, skill and experience that might normally require several different firms.

Gerald Pouncey, who brought WRS to the firm, is known nationally for his environmental work in real estate deals. Given the many uses of the land before the transaction, this proved to be critical – as did the firm’s transactional, zoning, litigation and corporate experience.

"MMM has all the various disciplines that came up, and had to be addressed, under one roof,” Williams said. “We were particularly well-equipped to handle this."

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

Terri Thornton
Partner, Thornton Communications
Phone: 404-932-4347

Pollack Shores to Begin Construction of New Luxury Apartments on Lake Gem

Steven Shores
 ATLANTA, GA – Multifamily developer Pollack Shores announced plans to build a luxury apartment community on a premier lakeshore location in Maitland, Florida. Future residents will have ample views and access to the lake, including walking and biking trails, kayaks, canoes and paddle boats, and a newly rebuilt fishing dock

The Class A community will begin to rise within the next 60 days once demolition of the former Maitland Shores apartments is complete. Pollack Shores acquired the vacant 1960s-era complex next to Lake Gem from SES Group Maitland Shores Ltd., and is expected to launch the project within the next week.

The 238,000-square-foot development on Lake Avenue will consist of three buildings that feature a variety of top-shelf amenities and stunning lakeshore views for residents. Plans also call for a new lighted biking and pedestrian trail that will connect to the city of Maitland’s trail just east of the property.

“This site checked all the boxes for our development strategy, and we’re pleased to offer a beautiful lakeside community that provides convenient access to a full range of lifestyle options for future residents,” said Pollack Shores President and Co-Founder Steven Shores. “The city of Maitland has been a great partner in this process, and we look forward to expanding our footprint in greater Orlando.”

Poole & Poole Architecture is handling design for the project, while Oxford Construction will serve as general contractor. Matrix Residential, a subsidiary of Pollack Shores, will add the development to its award-winning portfolio of luxury properties the company manages across the Sunbelt.

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

Liana Moran
The Wilbert Group
404-748-1367 (O) 770-905-9915 (C)

HFF appoints Chris Collins as an associate director in its San Diego, CA office

Chris Collins
SAN DIEGO, CA, April 19, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has appointed Chris Collins as an associate director in its San Diego office.  Mr. Collins will focus on middle market debt and equity placement transactions throughout the western United States.

Mr. Collins has been with HFF since 2014 as a senior real estate analyst and has more than five years of experience in commercial real estate finance.  Prior thereto, he was a real estate analyst at La Jolla Capital, a boutique commercial real estate finance firm focused on middle market apartment transactions.

 He is a member of NAIOP Developing Leaders and the International Council of Shopping Centers (ICSC).  Mr. Collins graduated with a Bachelor of Science from Colorado State University.

“We are excited to have Chris join the production team here at HFF and to help build the HFF client base out of San Diego,” said Aldon Cole, senior managing director and head of HFF’s San Diego office.  “As a professional, he has grown from playing a key support role and has developed a strong command of a wide variety of debt products as well as being integrated into HFF’s structured-finance and equity placement platforms.”

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

Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

American Realty Advisors Announces Headquarters Relocation to Downtown Los Angeles, CA

Stanley lezman
Los Angeles, CA (April 19, 2017) – American Realty Advisors (“ARA”), an institutional capital management firm with more than $8 billion in assets under management, announced today that it will be moving its corporate headquarters from the current location in Glendale, CA to downtown Los Angeles.  The move will be effective June 5, 2017.

In advance of the move, ARA has also completed a major rebranding, which is part of an overall firm-wide initiative to unify the brand and support the growth of the firm.

ARA’s move will be to the 49th floor of 515 S. Flower Street in the City National Plaza. Reflecting the growth, expansion, and strength of the firm, the new headquarters will afford ARA’s investors, business partners, and professionals access to a location in the heart of one of the nation’s largest financial centers.

“Our move to DTLA will accomplish three important factors of the firm’s growth, a focus on sustainability, finding and retaining great talent, and being in the financial center of Los Angeles, where global capital decisions are made,” says Stanley Iezman, Chairman and CEO of ARA.

 “As sustainable business practices are key to our philosophy, DTLA’s connection to the broader transit network throughout Los Angeles allows our employees to commute to the office through a variety of public transportation options.”

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

Lexi Astfalk / Jenn Quader for American Realty Advisors
Brower, Miller & Cole