Terwilliger Pappas Breaks Ground on Solis Decatur Apartments in North Decatur Square, Atlanta, GA

Alan Dean

ATLANTA, GA – Terwilliger Pappas has started construction on Solis Decatur, a 290-unit apartment community. 

Solis Decatur comprises the residential component of the North Decatur Square mixed-use development that includes 89,000 square feet of restaurant and retail – including a Whole Foods 365.

Terwilliger Pappas partnered with SJ Collins Enterprises on the 11-acre parcel. Terwilliger Pappas’ financial partners on this deal are JP Morgan and Atlantic Creek.

The residential portion will include a workforce component to provide affordable housing opportunities to the local neighborhood. 

The project is located directly across from North DeKalb Medical Center, approximately one mile from Downtown Decatur where residents will have the opportunity to walk, explore, shop and enjoy over 200 independent shops, restaurants, music venues, galleries and salons.

“Solis Decatur is located in one of Atlanta’s most historic and thriving neighborhoods, with access to culture, food and retail,” said Alan Dean, Region President at Terwilliger Pappas. “Walkability is a critical component in all Terwilliger Pappas communities. The restaurant and retail offerings, including Whole Foods 365, within North Decatur Square make this a very compelling offering.”

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

Taylor Rowden/Hilary Harmon

Liz Lapidus PR

404-688-1466

taylor@lizlapiduspr.com

hilary@lizlapiduspr.com

HFF closes $28.1 million sale of and arranges $20.3 million financing for mixed-use office and retail center in Palm Beach Gardens, FL

City Center, Palm Beach Gardens, FL                    Photo by Mark S. Gall)

Hermen Rodriguez

MIAMI, FL  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $28.1 million sale of and arranged $20.3 million in acquisition financing for City Centre, a Class A, four-building, mixed-use office and retail center totaling 93,563 square feet in Palm Beach Gardens, Florida. 

The sale also included a 20-year ground leased outparcel with a PNC Bank branch and a 3.2-acre development site approved for 61,800 square feet of office space.

HFF marketed the property on behalf of the seller, Lionstone Investments.  AW Property Co. purchased the asset free and clear of financing.  Additionally, HFF worked on behalf of the new owner to place the acquisition financing. 

City Centre’s four buildings have classical Mediterranean revival-style architecture that includes Spanish tile mansards, a central fountain and walking paths with brick pavestones. 

The low-rise buildings are home to a variety of multinational, national and local tenants, including PNC Bank; Oppenheimer & Co. Inc.; Wilmington Trust; Sabadell United Bank; Twisted Root Brewing; Ristorante Limoncello and Premier Custom Pharmacy. 

Daniel Finkle

Situated on 13.58 acres at 2000 PGA Boulevard, City Centre is at the southwest corner of PGA Boulevard and US Highway 1 on the east side of Ellison Wilson Road. 

The property is the North Palm Beach submarket in northern Palm Beach County and is located less than 10 miles from downtown West Palm Beach.

The HFF investment sales team representing the seller was led by senior managing director Hermen Rodriguez, senior managing director and co-head of HFF’s retail practice Daniel Finkle, director Ike Ojala and associate director Tracey Goo.

HFF’s debt placement team was led by senior managing director Paul Stasaitis and associate Maxx Carney.

  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 | www.hfflp.com

krmurphy@hfflp.com

http://www.awproperty.com.

https://lionstoneinvestments.com.

  

HFF secures $40.7 million construction financing for Hyatt House hotel in Nashville, TN

Ed Coco

ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $40.7 million in construction financing for the development of a new 201-room, 15-story Hyatt House hotel in Nashville’s West End area. 

HFF worked on behalf of the developer, a joint venture between Atlanta-based Songy Highroads LLC and a Hyatt affiliate, to place the construction loan with Citizens Bank.

The new Hyatt House Nashville West End will be a midrise extended-stay hotel featuring full kitchen suites in select rooms, lobby lounge and H Bar, outdoor patio with fire pit and grills, complimentary Morning Spread breakfast, evening happy hour, 24-hour fitness center, outdoor pool with pool deck, meeting space and more.

 The hotel is expected to be completed in early 2019.  Situated on .62 acres at 21st Avenue North and Hayes Street, the hotel’s West End location places it in close proximity to Vanderbilt University, Vanderbilt University Medical Center and Children’s Hospital, Belmont University, St. Thomas Hospital and Tri-Star Centennial Medical Center.

The HFF debt placement team representing the developer was led by senior managing director Ed Coco and associate Matt Casey.

“This Hyatt House project is ideally located squarely in the heart of the West End’s largest demand drivers,” said Coco.  “Fundamentals for the extended-stay product continue to flourish in this incredibly strong submarket, and the collaboration between Songy Highroads and Hyatt will develop a best-in-class project to service this stable and growing demand.” 

    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 | www.hfflp.com

krmurphy@hfflp.com

http://songyhighroads.com.

www.hyatthouse.com.

  

HFF completes sale of 520 Post Oak Boulevard in Houston, TX

520 Post Oak Boulevard Office Building, Galleria Submarket, Houston, TX

HOUSTON, TX –- Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has completed the sale of 520 Post Oak Boulevard, a 155,147-square-foot, boutique office building in Houston’s Galleria submarket.

HFF worked on behalf of the sellers, balandis real estate AG and Griffin Partners. The project was sold to Griffin Partners Office Fund III.  balandis AG was advised by EII Realty Corp.

520 Post Oak Boulevard is situated in the heart of Post Oak Park in Houston’s Galleria submarket, a location that boasts unparalleled freeway connectivity via Loop 610, Interstate 10 and Interstate 69; access to more than 35 Fortune 1000 HQ within a 15 minute drive; direct access to Houston’s premier residential neighborhoods and an extensive retail amenity base, including River Oaks District, Highland Village, Uptown Park, BLVD Place and The Galleria Mall. 

The eight-story building is 90.1 percent leased to a diverse roster of tenants in the real estate, financial, professional services, energy and transportation service industries. 

The HFF investment sales team representing the seller was led by senior managing director Danny Miller and associate John Indelli.

  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 | www.hfflp.com

krmurphy@hfflp.com

Stepp Commercial Completes $4.1 Million Sale of Bay Shore Apartments in Long Beach, CA

Robert Stepp

Long Beach, CA -- Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $4.1 million sale of Bay Shore Apartments, a nine-unit apartment property adjacent to the Belmont Shore neighborhood of Long Beach, Calif.

Principal Robert Stepp and Vice President Michael Toveg of Stepp Commercial represented the seller, a private investor from Los Angeles. Vice President Todd Hawke of Stepp Commercial represented the buyer, a private investor from Los Angeles.

The property closed at a 3.8 percent cap rate and a price per unit of nearly $456,000, which is a record high for the area.

Built in 1946, the two-story property is located at 20 Bay Shore Avenue and consists entirely of two-bedroom units. The asset includes a front porch, private garages and a laundry facility. Some of the units have been upgraded with hardwood floors, granite countertops and custom cabinetry.

"Bay Shore Apartments is just steps from the beach in the prestigious Belmont Shore neighborhood," said Stepp. "It offers the buyer a 15 percent rental upside and sold for full asking price."

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

Darcie Giacchetto

D.G. Communications, Inc.

949.278.6224

www.steppcommercial.com

After Strong First Quarter, CBRE Forecasts Eighth Consecutive Year of Occupancy Growth for U.S. Hotels

R. Mark Woodworth

Atlanta, GA, May 23, 2017 – The U.S. lodging industry started 2017 on a strong note.  During the first quarter of 2017, hotel demand increased by 2.8 percent.  

The result was an occupancy of 61.1 percent, the highest first quarter occupancy rate reported by STR in the past 30 years.

 “Since bottoming out in the fourth quarter of 2009, U.S. lodging demand now has grown for 29 consecutive quarters, and led to the record occupancy levels we currently are observing,” said R. Mark Woodworth, senior managing director of CBRE Hotels’ Americas Research (CBRE).

 “We realize that favorable prior year comparisons contributed to the strong growth in first quarter demand, and that pace cannot be sustained through the rest of 2017. 

“However, given the positive economic outlook for the remainder of the year, we are projecting demand to outpace supply once again in 2017, thus resulting in an eighth successive year of occupancy growth for the U.S. lodging industry.”

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

Chris Daly

Daly Gray Public Relations

703 435 6293

chris@dalygray.com

National Retail Properties Inc. Declares Dividends for its 5.70% Series Preferred and 5.20% Series F Preferred Stocks

Kevin Habicht

Orlando, FL  - The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a cash dividend on its 5.70% Series E Cumulative Redeemable Preferred Stock of 35.625 cents per depositary share payable June 15, 2017, to shareholders of record on May 31, 2017.

The Board also declared a cash dividend on its 5.20% Series F Cumulative Redeemable Preferred Stock of 32.5 cents per depositary share payable June 15, 2017, to shareholders of record on May 31, 2017.

National Retail Properties invests primarily in high-quality retail properties subject

generally to long-term, net leases. As of March 31, 2017, the company owned 2,543

properties in 48 states with a gross leasable area of approximately 27.3 million square

feet with a weighted average remaining lease term of 11.4 years.

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

Kevin B. Habicht

Chief Financial Officer

(407) 265-7348

www.nnnreit.com.