HFF arranges $1.5 million in acquisition financing for 14-unit multi-housing property in Concord, CA

2093 Mount Diablo Apartments, Concord, CA

SAN FRANCISCO, CA, July 26, 2017– Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $1.5 million in acquisition financing for 2093 Mount Diablo, a 14-unit multi-housing property in Concord, California.

HFF worked on behalf of the borrower, PTLA Real Estate Group, to secure the seven-year, fixed-rate loan with five years of interest only.

Chris Gandy

2093 Mount Diablo features studio and one-bedroom units ranging from 500 to 565 square feet.  The two-story property is located less than six miles north of Walnut Creek and approximately 30 miles northeast of downtown San Francisco providing access to some of the Bay Area’s major employment centers via Interstate 68 and California 24. 

With a Walk Score® of 93, 2093 Mount Diablo also offers residents an array of nearby local retail and recreational amenities in the Outer Concord/Pleasant Hill submarket.

The HFF debt placement team representing the borrower was led by director Chris Gandy.

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

ohennessey@hfflp.com

HFF closes sale of three-building flex/R&D business park in San Diego, CA

Summit Ridge Business Park, San Diego, CA

SAN DIEGO, CA, July 26, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Summit Ridge Business Park, a fully leased, institutional-quality flex/R&D business park encompassing three buildings totaling 133,841 square feet within San Diego, California.

HFF marketed the property on behalf of the seller.  A private partnership managed by Miami-based Jewell Capital, LLC purchased the asset free and clear of existing debt.

Nick Frasco

Originally constructed in 2000, Summit Ridge Business Park is a three-building, high-finish flex/R&D business park located in the Sorrento Mesa submarket of San Diego. 

The three buildings feature high-image exterior architecture, unobstructed canyon views, abundant 22-foot clear heights and an extensive window line that provide for ideal tenant workspaces.  

The project is 100 percent leased to four tenants, including Inovio Pharmaceuticals, Nexus DX, Acea Biosciences and General Atomics, and is strategically located in one of San Diego’s premier innovation-centric hubs.

The HFF investment sales team representing the seller was led by senior director Nick Frasco.

"Summit Ridge Business Park represented a unique opportunity to acquire a high-quality, well-located asset at an attractive basis that offers both a durable income component and significant upside potential through near term rollover at below-market rents,” Frasco said.

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

ohennessey@hfflp.com

The Keyes Company Acquires Florida Offices of Shorewood Real Estate

 

Mike Pappas

MIAMI, FL,  July 26, 2017 – The Keyes Company has announced the acquisition of the Florida offices of nationally recognized residential firm Shorewood Real Estate. Keyes and its Family of Companies continues to aggressively grow throughout the state.

Shorewood has 40 agents based in its Florida offices, which are located in Aventura and Palm Beach. The transaction allows the Shorewood agents to take advantage of the resources, technology, marketing, leadership and independent nature of Keyes as they promote their properties and enjoy increased sales and listing opportunities.

Those agents will have the choice of which of the 58 Keyes offices they work out of going forward.

“We are thrilled to join forces with the talented team at Shorewood’s Florida offices,” said Keyes CEO Mike Pappas. “We have no doubt this union will generate substantial growth to our Family of Companies. In a time when real estate brokerages continue to consolidate, our independent company keeps expanding and thriving.”    

Based in Denver, Shorewood has been honored as one of the top residential real estate firms in the U.S. It provides real estate services in the states of Colorado, Florida and Nevada.

In 2016, Shorewood was recognized by annual research reports REAL Trends 500 and RIS Media’s Power Brokers as one of the top 500 residential real estate firms in the nation in terms of volume and units. It ranked within the top fifth of the 500 firms recognized.

Shorewood has about 400 real estate professionals nationwide.

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

Eric Kalis or Jasmin Curtiss, BoardroomPR

ekalis@boardroompr.com/jcurtiss@boardroompr.com

954-370-8999

AMAC and EBEX Holdings Acquire 306-Unit San Antonio, TX Apartment Community for $37MM

  

 

Maurice Kaufman

SAN ANTONIO, TX (July 26, 2017) – A joint venture between AMAC Holdings and EBEX Holdings has teamed up with property management firm United Apartment Group to acquire Crescent at Alamo Heights, a 306-unit multifamily apartment community located in the marquee San Antonio neighborhood of Alamo Heights.

“Crescent at Alamo Heights enjoys a prime location within one of the most desirable submarkets in San Antonio,” says Maurice Kaufman, a Founding Principal at AMAC Holdings. “The property has not been renovated in over 10 years and presents a tremendous value-add opportunity through unit upgrades and an operational overhaul.” 

Built in 1993, Crescent at Alamo Heights sits on 14.6 lush landscaped acres and features a unit mix of one-, two- and three-bedroom units ranging from 669 to 1,370 square feet in size.

 The units at Crescent at Alamo Heights include 9-foot ceiling heights, walk in closets, washer/dryer connections and patios/balconies. Amenities include gated-access, assigned parking, a pet-friendly policy, swimming pool, fitness center, laundry room, playground, picnic area with barbecues, and a business center.

The new owners have plans for an extensive renovation and rebranding strategy that will include both interior and exterior improvements, as well as amenity upgrades.

“This was a very complex transaction with a few months of negotiations with the sellers, a large tenants in common group,” says Evan Goldenberg, Principal at EBEX Holdings.

Evan Goldenberg

 “Ultimately, the effort was worth it, as we were able to close at a price-per-unit of $121,000. We have only owned Crescent at Alamo Heights for a month, but we are already hearing from tenants who are extremely excited about our rehabilitation plans, as the community has seen its share of deferred maintenance from previous owners.”

Joshua Ross, Vice President Investments at Marcus & Millichap’s Encino office, represented AMAC Holdings and EBEX Holdings in the transaction. The sellers were represented by Ryan Epstein, Senior Managing Director at Berkadia’s Houston office, and Mike Miller, Senior Director at Berkadia’s San Antonio office.

United Apartment Group, a San Antonio-based property management firm led by Principals Carrie Girgus and Tim Settles, will handle daily operations at the property.

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

Bonnie Habyan

516-506-4615

Hanley Investment Group Arranges Sale of Single-Tenant NNN Taco Bell in Stockton, CA for $882 Per Square Foot

Taco Bell, 627 North Wilson Way, Stockton, CA

Pat Kent

STOCKTON, CA -- Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, arranged the sale of a single-tenant absolute net-leased Taco Bell property located at 627 N. Wilson Way in Stockton, Calif.

The tenant has a 48-year operating history at this location. The purchase price was $1.45 million or $882 per square foot.

Hanley Investment Group Executive Vice President Pat Kent, along with Senior Associate Corey Olson, represented the seller, TB Stockton, LLC of Santa Monica, Calif. The buyer, M&M Trust of Sacramento, Calif., was represented by Stephen Harper of Veritas Investment Realty Investors of Rocklin, Calif.

“Investor demand is extremely strong for well-located quick-service restaurants,” said Kent. “This is evidenced by the fact that we were able to generate seven highly-qualified offers within our first week of marketing efforts and we negotiated a timely 15-day escrow.”

Corey Olson

The 1,644-square-foot Taco Bell building sits on a .34-acre lot along North Wilson Way, a major north/south thoroughfare, which has an excess of 30,000 cars per day at the nearest intersection.

Remodeled in 1992, the building benefits from a large monument sign, a highly-visible street-front location and a drive-thru. 

It is also located directly across from Eastland Plaza, a grocery-anchored neighborhood shopping center. 

Other fast-food tenants in the immediate area include McDonald’s, KFC, Burger King, El Pollo Loco, Long John Silver’s and Panda Express.

Olson noted that Stockton is the 13th most populated city in the state of California with 700,000 people in the metro and the property benefited from that density with more than 280,000 people within a five-mile radius. “Additionally, many investors were attracted to the strong lease guarantee provided by the tenant, a seasoned operator with 33 existing franchise locations,” Olson noted. 

Stephen Harper

Taco Bell Corp., a subsidiary of Yum! Brands, Inc. (NYSE: YUM), is the nation's leading Mexican-inspired quick-service restaurant brand. 

Taco Bell and its more than 350 franchise organizations proudly serve over 42 million customers each week through 7,000 restaurants across the nation, as well as through its mobile, desktop and delivery ordering services. 

Overseas, Taco Bell has over 250 restaurants, with plans to add 2,000 more restaurants internationally within the next decade. In 2016, Taco Bell was named as one of Fast Company’s Top 10 Most Innovative Companies in the World. 

“Net-lease investors are risk-averse and single-tenant restaurants provide stable returns, long-term safety and are internet resistant,” Kent said. “The attraction to this investment type is substantiated by the trade volume of single-tenant restaurants, which accounted for 26 percent of all single-tenant retail transactions in the state of California since the start of 2017, according to CoStar.”  

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

anne@monaghanpr.com

www.hanleyinvestment.com

Merriman Anderson/Architects Selected to Design Grandscape Project Combining Retail, Hospitality, Office and Residential

  

 

Jerry Merriman

DALLAS –– Dallas-based Merriman Anderson/Architects (maa) has been selected as design development and architect of record for the massive Grandscape development that spans more than 400-acres and will include 3.9 million square feet of retail, hospitality, attractions, dining entertainment and residential.

The developer for the project is Nebraska Furniture Mart, as part of the Berkshire Hathaway family.

 Grandscape is currently anchored by Nebraska Furniture Mart and is situated south of Sam Rayburn Tollway (SH121) between W. Spring Creek Parkway and Plano Parkway in The Colony.

 HTH Architects of Los Angeles is the design architect and VCC Construction is the general contractor for the mixed-use project.

Plans for the development include destination retail like Scheels, slated to open in 2020, numerous restaurants, a hotel and spa, luxury movie theater operator Galaxy theatres, residential and office spaces and entertainment concepts, such as Andretti Indoor Karting and Games, set to open in 2019.

The project is scheduled to open in phases over the next several years, with the first phase scheduled for fourth quarter 2018.     

“Located in the area’s largest growth corridor, Grandscape is a game changing development for the Dallas/Fort Worth area,” said Jerry Merriman, president and founder of maa.

 “Our team is delighted to be part of this exciting new destination that will impact the entire region for many years to come. 

"The opportunity to combine the mix of end-users together along with an unmatched technological experience for visitors is invigorating for everyone working on the project.”

Nebraska Furniture Mart

Merriman Anderson/Architects’ stamp can be seen on master planned developments, urban housing, office buildings, corporate facilities, hotels, hospitals, schools and retail projects, including interiors and signage, throughout the United States and internationally. 

Headquartered in Dallas, Texas, with additional offices in Austin, Texas and Charlotte, North Carolina, the firm offers customized project solutions to a varied portfolio of clients. With more than 90 employees, the firm is large enough to address broad and complex real estate developments, yet small enough to offer personalized service and accountability. MAA’s associates have a reputation for design excellence as well as technical detailing.

   For more information, visit http://merriman-maa.com/, follow on Twitter @MerrimanArch , Facebook @MerrimanAnderson or on Instagram @maa_dallas.

 For more information on Grandscape, visit http://www.grandscape.com, follow on Twitter and Instagram @GrandscapeTX or on Facebook @GrandscapeTexas.

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

McClain Stone

Culver Public Relations

3102 Maple Ave., Suite 235

Dallas, TX  75201

214.352.5980 office

214.980-3034 cell