HFF closes $59.75 million sale of and arranges $33.5 million in financing for Peninsula Executive Center in Boca Raton, FL

 

Peninsula Executive Center, Boca Raton, FL

Chris Drew

MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $59.75 million sale of and arranged $33.5 million in financing for Peninsula Executive Center, a 187,784-square-foot, Class A office property in Boca Raton, Florida.

HFF marketed the property on behalf of the seller and procured the buyer, C. Talanian Realty Co.  Additionally, HFF worked on behalf of the new owner to secure the long-term, fixed-rate financing through Principal Real Estate Investors. 

Peninsula Executive Center consists of two four-story office buildings and a 742-space parking structure located at 2381 and 2385 Executive Center Drive in Boca Raton. 

This location is centrally located in the heart of Boca Raton’s most coveted office submarkets and adjacent to the Midtown Boca district.  Additionally, the property is surrounded by an abundant amount of executive housing and amenities, including Town Center Mall and University Commons.  The property is currently 97 percent leased and is anchored by Newell Brands. 

Hermen Rodriguez

The HFF team was led by senior managing directors Chris Drew and Hermen Rodriguez, director Ike Ojala, associate director Brian Gaswirth and associate Matthew McCormack.

“This acquisition marks the first major investment in South Florida by C. Talanian Realty Co.,” said Drew.  “The buyer was attracted this opportunity due to its main and main location within the heart of Boca and the durable long-term cash flow. 

“A number of balance sheet lenders aggressively pursued this opportunity; however, Principal was ultimately selected due to their deep knowledge of the Boca office market and their ability to structure a creative financing solution.”

Rodriguez added, “This was a highly sought after investment opportunity in the very dynamic West Boca office market.”

 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

   

HFF closes sale of award-winning Hilton Dallas Park Cities hotel

Hilton Dallas Park Cities Hotel, Preston Center, Dallas, TX 

John Bourret

ALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Hilton Dallas Park Cities, a 224-room, AAA Four Diamond hotel in Dallas’ Preston Center.

HFF marketed the property on behalf of the seller.  Woodbine Legacy Investments (WLI) purchased the hotel, which is the new fund’s inaugural purchase.

The 11-story Hilton Dallas Park Cities was completed in 2001 and extensively renovated between 2012 and 2013.  The hotel features an array of amenities, including a heated outdoor rooftop pool with city views, business center, fitness center, HHonors lounge, 10,259 square feet of meeting and event space, lobby bar and Grain full-service restaurant.

 Situated on almost a full acre at 5954 Luther Lane, the hotel is located in the heart of Preston Center, the city’s most prestigious office district.  The property is bordered by some of Dallas’ most affluent neighborhoods and the Dallas North Tollway, providing guests access to demand generators, including Southern Methodist University, the two million-square-foot NorthPark Center mall and 3.1 million square feet of Class A office space.

Austin Brooks

The HFF investment sales team representing the seller was led by managing director John Bourret and associate director Austin Brooks.

Woodbine Legacy Investments is a real estate investment platform that focuses on branded, boutique and independent hotel acquisitions and investments across the United States.  

Capitalized by select family offices, foundations and institutions, WLI pursues lower-risk, conservatively leveraged, full-service and select-service hotel assets in top-tier markets that offer long-term cash-flow opportunities for investors. 

 The fund is led and owned by Woodbine Development Corporation. 

 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

HFF arranges $29.975 million acquisition financing for Whole Foods-anchored retail center in Birmingham, AL

Cahaba Village Shopping Center, Mountain Brook, AL

Gregg Shapiro

ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $29.975 million in acquisition financing for Cahaba Village, a 115,180-square-foot, trophy, Whole Foods-anchored retail center in the affluent Birmingham submarket of Mountain Brook, Alabama.

HFF worked on behalf of the borrower, an institutional client advised by L & B Realty Advisors, to place the 10-year, fixed-rate loan with Guardian Life Insurance Company of America. 

Additionally, HFF will service the loan, proceeds of which provided post acquisition financing for the purchase of the property in a sale brokered by HFF.

Cahaba Village is a generational asset located in Mountain Brook, one of the most affluent markets in Alabama, and is strategically positioned along U.S. 280, the main retail corridor in Birmingham.

 The property is home to one of the most dynamic, highest-performing tenant line-ups in the southeast and features such notable tenants as Whole Foods, Diamonds Direct, Mountain High Outfitters and Bryant Bank.   

The HFF debt placement team was represented by managing director Gregg Shapiro and senior managing director John Rose.

  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.lbrealty.com

PulteGroup Promotes Clint Ball to Division President

Clint Ball

ORLANDO, FL--- PulteGroup, Inc. promoted Clint Ball to North Florida Division President overseeing homebuilding by Pulte Homes, Centex Homes and Del Webb brands from the greater Orlando area north to Jacksonville. 

Peter Keane, Florida Area President said Ball was formerly Vice President of Operations for the North Florida Division. 

In his new role as division president, Ball will be responsible for all homebuilding and community development operations in the two markets and in particular for the Orlando MSA where 12 new Pulte and Centex communities are being launched in 2017 representing a positive economic investment in the region.

The 12 new communities opening this year – five in Orange County, four in Seminole, two in Osceola and one in Lake County-- are in addition to 16 existing Orlando area communities where the homebuilder is already active.

Peter Keane

Ball has been with PulteGroup for eight years.  He started as a division controller, and quickly moved through the ranks being promoted from Vice President of Land Acquisition to Vice President of Operations in 2016.  

A Florida native and lifelong Orlando resident, Ball started his career with Deloitte; he has also held senior financial positions at Golf Channel.

“Clint has shown great leadership and strength as our VP of Operations in North Florida and we look forward to continued growth in the Orlando and Jacksonville marketplaces under his direction as division president,” said Keane.

PulteGroup currently has 200 employees in the North Florida division and will continue to add employees to support the opening of 12 new communities.

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

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

  

HFF secures $75 million construction loan for life science lab project in South San Francisco

Genesis North Tower Life Science Building, South San Francisco, CA

Tim Wright

SAN DIEGO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $75 million construction loan for the development of Genesis North Tower, a 21-story, 390,000-square-foot life science building in South San Francisco, California.

HFF worked on behalf of the borrower, Phase 3 Real Estate Partners, Inc., in arranging the construction loan through a national bank lender. 

Genesis North Tower is located at Two Tower Place immediately adjacent to and visible from Highway 101 in South San Francisco’s life science hub.  This location is less than 10 minutes from the San Francisco Airport and proximate to the Bart/Caltrain lines of the San Bruno and South San Francisco stations. 

The shovel-ready project is the second phase of a combined 800,000-square-foot life science project, which also includes the existing Genesis South Tower lab property and future seven-story Hotel and Amenity center. 

The HFF debt placement team representing the borrower was led by senior managing director Tim Wright, managing director Todd Sugimoto, director Zack Holderman and associate Olga Walsh.

Olga Walsh

Phase 3 Real Estate Partners, Inc. (P3RE) is a progressive real estate company dedicated to fostering the growth of the life science community by providing premiere, Class A environments that meet the needs of companies today and in the future. 

P3RE’s properties are located in the epicenters of the life science markets in San Diego and San Francisco.  These are innovative urban centers for the life sciences, and represent two of the top three life science clusters in the world.

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