HFF closes $57 million sale of and arranges $31 million financing for 54-unit apartment property in Manhattan’s East Village

 

200 East 11th Street, East Village, Manhattan, NY

Jeff Julien

NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $57 million sale of and arranged $31 million in financing for 200 East 11th Street, a 54-unit, newly renovated apartment property in Manhattan’s East Village.

HFF marketed the property on behalf of the seller, Benchmark Real Estate Group, and procured the buyer, Shorenstein Company LLC.  Additionally, HFF secured acquisition financing on the new owner’s behalf through Helaba.

200 East 11th Street is located on the corner of East 11th Street and 3rd Avenue near multiple transportation options and numerous highly sought-after retail, entertainment and dining amenities.

 The 12-story, 53,000-square-foot building consists of 54 one-, two- and three-bedroom residential units, all of which are fair market.  Apartment amenities include new windows, oak flooring, in-unit washers and dryers and new heating/cooling units.

 The property also features a rooftop deck with lounge space and a recently constructed, three-story amenity building that houses a new lobby, gym and yoga studio.

Rob Hinckley

The HFF investment sales team was led by managing directors Jeff Julien and Rob Hinckley and associate director Steven Rutman.

HFF’s debt placement team was led by director Geoff Goldstein, managing director Scott Aiese and associate Rory Shepard.

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://benchmarkrealestate.com/

HFF closes sale of Daytona Beach, FL beachfront hotel

Hampton Inn Daytona Beach/Beachfront Hotel, 
                                      1024 North Atlanta Avenue, Daytona Beach, FL                                                   
                                                                                                              (Photo by Troy Morgan)

                                                                                                 

ORLANDO, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of the Hampton Inn Daytona Beach/Beachfront, a 90-room, select-service beachfront hotel in Daytona Beach, Florida

HFF marketed the property on behalf of the seller, Humphrey Realty Corp.  Driftwood Acquisitions & Development LP, an affiliate of the hotel management company Driftwood Hospitality Management, LLC, purchased the asset free and clear of debt and unencumbered of management.

Alexandra Lalos

Formerly known as the Ocean Sands Hotel, the eight-story Hampton Inn Daytona Beach/Beachfront underwent a complete renovation and brand conversion to a Hampton Inn in 2013. 

The hotel features a heated outdoor pool with pool bar, pool deck, whirlpool, fire pit and children’s splash pad; fitness center that overlooks the pool deck and Atlantic Ocean; business center; on-site convenience store; and 266 square feet of meeting space. 

Located at 1024 North Atlantic Avenue, Hampton Inn Daytona Beach/Beachfront is directly on the sand of Daytona Beach, one of the most frequently visited coastal destinations on the East Coast.

Preston Reid

 The hotel is proximate to popular Daytona destinations, including Daytona International Speedway, Daytona Beach Boardwalk, Ocean Center convention center and the LPGA International Golf Course.

The HFF investment sales team representing the seller was led by associate directors Preston Reid and Alexandra Lalos and senior managing director Michael Weinberg.

“The seller executed a fantastic overhaul to this hotel, converting it from a capital-starved independent hotel to one of the most powerful brands around in the Hampton Inn by Hilton,” Weinberg said.  “This made it very desirable to a competitive field of buyers.”

  

"There continues to be a significant amount of equity and debt capital available for premium-branded, select-service assets in Florida, especially in high growth markets like Daytona Beach," Reid added.

  

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

www.driftwoodhospitality.com

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Lincoln Property Company Southeast Completes $3.5 Million Sale of Communications Drive Office and Industrial Building in Norcross, GA

Chip Sipple

ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) has announced it has completed the sale of a 56,600-square-foot office and industrial building in a prime location at 4261 Communications Drive in Norcross.

 Chip Sipple and Jeff Henson of Lincoln represented the seller, Flooring International Distribution Inc.

Young Georgia Properties LLC bought the building for $3.5 million. The previous owner decided to downsize into a space that better fit its operations. The new owner has moved in.

“This building offered a superior location in Atlanta’s largest industrial market in a great business park setting,” said Lincoln’s Sipple. “With a functional floor plan, top-of-the line features and a large warehouse, this Communications Drive building represented a tremendous opportunity for the new owner.” 

Jeff Henson

The property consists of 11,597 square feet of office and showroom space with an open floorplan and a mixture of private offices and open work areas, as well as a 44,389-square-foot warehouse featuring 24-foot clear heights and drive-in, dock-high loading.

Additionally, the 4.75-acre property includes ample surface parking, an attractive landscaped environment and easy access to major roadways including I-85 and I-285.

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

Gary Tanner

The Wilbert Group

678-677-9754

gtanner@thewilbertgroup.com