Artemis Real Estate Partners, Ackerman & Co. and MLL Capital Acquire 423,411-Square-Foot CHRISTUS San Antonio, TX Medical Portfolio

Northwest Towers I and II 
located in the 900-acre South Texas Medical Center,
 are on the campus of 
CHRISTUS Santa Rosa Hospital – Medical Center.

Atlanta, GA – A partnership between Artemis Real Estate Partners, Ackerman & Co. and MLL Capital has purchased a four-building medical office portfolio totaling 423,411 square feet in San Antonio, Texas.

The on-campus properties are located in two clusters. Two buildings are in the San Antonio CBD, adjacent to the $175-million San Pedro Creek redevelopment. The other two buildings are in the South Texas Medical Center – the largest medical research, education and healthcare provider in South Texas. 

Santa Rosa Professional Pavilion (128,578 SF) and Rosa Verde Tower (123,324 SF), located in the San Antonio CBD, sit on the CHRISTUS Children’s Hospital of San Antonio campus, which recently underwent a $135-million renovation and expansion.

Santa Rosa Professional Pavilion (128,578 SF)
 and Rosa Verde Tower (123,324 SF), 
located in the San Antonio CBD, sit on the CHRISTUS
 Children’s Hospital of San Antonio campus,
 which recently underwent
 a $135-million renovation and expansion.

 Northwest Towers I and II (171,509 SF), located in the 900-acre South Texas Medical Center, are on the campus of CHRISTUS Santa Rosa Hospital – Medical Center.

The new ownership will invest $27 million into renovating and leasing the portfolio. The result will be a high-quality medical office environment that will support world-class medical professionals, serve the area’s growing patient population and meet the strong demand for outpatient services. Property upgrades will include new building lobbies, the addition of common area improvements, parking upgrades, and state-of-the-art elevators and mechanical systems. 

Lee Asher, Chris Bodnar and Scott Herbold of CBRE represented the undisclosed seller in the transaction. Ed Cross and Brent Smith of Cushman & Wakefield San Antonio Commercial Advisors advised the buyer. Chad Gunter of Transwestern will lead leasing efforts on behalf of the new owners.  

Santa Rosa Pavillion

“It was an honor to work with our local expert partners and all the professionals at CHRISTUS to learn about the needs of the San Antonio community,” said Kris Miller, President of Ackerman & Co. “Our intent is to extend the success of the newly renovated Children’s Hospital into these buildings to create a first-class clinical environment for the delivery of medical care.” 

  

“As part of our mission to deliver top-quality medical space, our investment in these properties will be patient-centric, physician-friendly and community-minded,” said Kyle O’Connor, President of MLL Capital.   

“Medical office continues to be an asset class we believe has strong macro tailwinds and we are excited about the opportunity to reposition these assets into a best-in-class medical office portfolio,” added Rich Banjo, managing principal at Artemis.   

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

swebb@ACKERMANCO.NET

www.ackermanco.com

www.mllcapital.com.

www.artemisrep.com.

Marcus & Millichap Brokers $2.32 Million Sale of Riverwood Apartments in Ruskin, FL

Ned Roberts

RUSKIN, FL, Aug. 8, 2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Riverwood Apartments, a 45-unit apartment property located in Ruskin, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $2,325,000.

Ned Roberts, Michael Donaldson and Nicholas Meoli, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.

 The buyer, a limited liability company, was also secured and represented by the three brokers and Daniel Aviles and Michael Lombardi, investment specialists in Marcus & Millichap’s New Jersey office.

"We leveraged Marcus & Millichap’s national footprint to sell this asset for the full asking price," said Ned Roberts. "The sale price per unit set a new record for multifamily assets of this size and class in Ruskin.”

Riverwood Apartments is located at 709 Oceanside Circle in Ruskin, Florida.

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

Ari Ravi

Regional Manager, Tampa

(813) 387-4700  

Marcus & Millichap Arranges $1.7 Million Sale of R & G Apartments in St. Petersburg, FL

Joshua Teplitzky

 ST. PETERSBURG, FL, August 8, 2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of R & G Apartments, a 23-unit apartment property located in St Petersburg, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,700,000.

Joshua Teplitzky, Cameron Barbas, Francesco P. Carriera, and Michael P. Regan investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, was also secured and represented by the same brokers.  

“This transaction is yet another which represents our ability to bring out of area capital into our market regardless of asset size,” says Teplitzky.

“This property had a heavy value-add component in a significantly redeveloping area in St. Petersburg,” added Barbas. “The addition of local retail and dining, including but not limited to Fresh Market, Publix and Trader Joe’s has had a significant impact on both rents and property values in this submarket.”

 “Our ability to articulate and convey the tremendous growth path within this area led to a record breaking price point of $73,913 per unit for 91% unrenovated 1920’s product with majority one-bedroom floor plans,” concluded Teplitzky.

R & G Apartments is located at 800 32nd Avenue North in Saint Petersburg, Florida. 

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

Ari Ravi

Regional Manager, Tampa

(813) 387-4700  

HSA PrimeCare and USAA Real Estate Company Acquire 45,722 SF Medical Office Building in Plymouth, MN

Medical Office Building, Plymouth, MN

Jon Boley

CHICAGO, IL — The joint-venture equity fund established by USAA Real Estate and HSA PrimeCare, the national healthcare real estate division of Chicago-based HSA Commercial Real Estate, announced the acquisition of a 45,722-square-foot medical office building in Plymouth, Minn.

The building is well-situated in the prominent western suburb of Minneapolis, within Plymouth’s City Center, which features abundant community amenities including an ice-skating area, Lifetime Fitness, a movie theater, and other shops, restaurants and public services.

Built in 2014, the Class A medical building is anchored by North Clinic, a large, independent physician group that occupies the full first floor. 

With five locations and over 80 physicians, North Clinic is a leading primary care and women’s healthcare services provider in the market. Institute for Athletic Medicine, a joint venture between North Memorial Health and Fairview Hospital, is another premier medical provider in the building. Institute for Athletic Medicine offers orthopedic and sports rehabilitation services.

Len O'Donnell

“This building and location are highly strategic for North Clinic and offer prospective tenants new, high-quality medical office space near the leading primary care provider in the market,” said Jon Boley, senior vice president of acquisitions and development at HSA PrimeCare. 

“We’re looking forward to partnering with local healthcare providers and further expanding HSA PrimeCare’s healthcare real estate services into the Minneapolis market.”

HSA PrimeCare and USAA Real Estate announced the formation of its joint-venture equity fund in 2016. It is positioned to acquire and develop a broad range of healthcare facilities across an 11-state territory in the Midwest.

“Alongside our partner, HSA PrimeCare, we are proud to expand our portfolio in alliance with leading health systems and private practice providers in the region,” commented Len O’Donnell, president and chief executive officer of USAA Real Estate. “This acquisition is another representation of our ongoing strategy to capitalize on emerging opportunities in the healthcare industry.”

  

Brian Bruggeman

HSA PrimeCare will be jointly managing the building with Minneapolis-based Frauenshuh Commercial Real Estate. Brian Bruggeman and Louis Suarez of Colliers International will be retained for leasing.

David Berglund of Colliers International represented the seller of the building.

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

Rebecca Boykin, rboykin@taylorjohnson.com, (312) 267-4523

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

www.usrealco.com

www.hsaprimecare.com.

Jason Scott Joins Arbor as Regional Managing Director, Southeast

 

Jason Scott

 UNIONDALE, NY (Aug. 7, 2017) - Arbor Realty Trust, Inc. (NYSE:ABR), a real estate investment trust and national direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets, is pleased to announce that Jason Scott has joined Arbor as Regional Managing Director, Southeast.

 Mr. Scott will target the southeast region for Arbor and will focus primarily on originating agency and structured loan transactions. He is based out of Arbor’s Atlanta office and reports directly to John Caulfield, Arbor’s Chief Operating Officer, Agency Lending.

With over 16 years of industry experience, Mr. Scott has extensive experience delivering client specific financing across all agency platforms as well as CMBS and structured loan products.

“We are thrilled to have Jason join the Arbor team as Regional Managing Director, Southeast,” said Mr. Caulfield. “Jason brings deep industry experience working on complex agency and structured transactions. Jason’s coming onboard reflects Arbor’s growing presence in this region and we believe his experience will greatly complement our efforts to serve our growing client base.”

John Caulfield

 For the past decade, Mr. Scott was employed by Regions Bank in Atlanta, most recently serving as a Director of Originations. 

He was also at RBC Capital Markets in Atlanta in their Real Estate Investment Banking division, working on mergers and acquisitions and raising both debt and equity for public REIT clients.

 In addition, he served as a Senior Associate, Investment Banking at FTI Capital Advisors/Andersen Corporate Finance in New York.

Mr. Scott holds a Master of Science in Real Estate Development from Columbia University and a Master of Business Administration from California Polytechnic State University. He graduated from the Virginia Polytechnic Institute and State University with a Bachelor of Science in Finance.

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

Arbor Realty Trust, Inc.                                                                   

Bonnie Habyan

333 Earle Ovington Blvd, Suite 900                                                 

516.506.4615

Uniondale, NY 11553                                                                      

 bhabyan@arbor.com

800.ARBOR.10

www.arbor.com

NAI Realvest Closes on Three Leases within 60 Days at Airport Commerce Center Totaling 12,320 Square Feet, Making the Orlando, FL Center 100 Percent Leased

Michael Heidrich

ORLANDO, FL. – NAI Realvest recently negotiated three lease agreements for a total of 12,320 rentable square feet of industrial space at Airport Commerce Center, 8350 Parkline Blvd. off Orange Ave. and McCoy Road in South Orlando. 

Michael Heidrich, a principal at NAI Realvest brokered the transactions representing the landlord Ohio-based Parkline Properties, LLC.

The new tenant who leased Unit 5 with 4,160 square feet boosting occupancy to 100 percent is XPO Unlimited, an internet service provider.

 Two tenants who signed lease renewals are Boricua Imports in Unit 4 with 4,160 square feet and Gulf Western Roofing & Sheet Metal in Unit 7 with 4,000 square feet.

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

Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com

Hold-Thyssen Negotiates Sale and Lease of Professional Office space in Pasco County, FL

Carol L. Kinnard

Trinity, FL  --- Hold-Thyssen, Inc., a full service commercial property firm based in Winter Park, with offices in Clearwater, recently negotiated the $240,000.00 all cash sale of a 1,640 square foot professional office condo at 1839 Health Care Drive in New Port Richey.  

Carol L. Kinnard, Transaction Specialist in Hold-Thyssen’s Clearwater office, negotiated the transaction, which took just 34 days from contract to closing, representing Sellers Daniel J. Lowenthal and Sujatha J. Lowenthal of Long Beach, Calif.    The buyer V&V Management Solutions, LLC, was represented by Commercial Asset Partners Realty.   

Kinnard also negotiated a new lease for 1,025 square feet of office space at 1842 Health Care Drive in Trinity representing Landlord Trinity Medical Holdings, Inc.   Tenant Fairway Independent Mortgage Corp. based in Madison, Wisconsin with 639 locations in the U.S., was represented in the transaction by Alpha Terra, Inc.

Hold-Thyssen based in Winter Park with offices in Clearwater, provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more than 100 commercial properties throughout the United States.

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

Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com