Downtown Midtown Interest Brings Hurley Plaza in Phoenix, AZ to Fully Leased

Tyson Switzenberg

PHOENIX, AZ – Benefiting from booming interest in both the downtown and midtown submarkets, the Phoenix office of JLL has completed four new retail leases at Hurley Plaza. The deals bring the center to 100 percent occupied.

JLL Associate Tim Hurley and Senior Vice President Tyson Switzenberg represented the Hurley Plaza owner, an affiliate of Carlsbad, California-based Capstone Advisors.

The new tenants joining the project include:

·  Bodystreet Training technology-based fitness and strength training, represented by John Quatrini of Shell Commercial Real Estate.

·  Pop ‘N Tea full-service boba tea and snack bar, represented by Lucky Espiritu of DPR Commercial.

·  The Joint chiropractic and wellness center, represented by Dan Smith of Arizona Elite Commercial.

·  Bishop’s Barbershop full-service barbershop, represented by Brian Gausden of Western Retail Advisors.

Hurley Plaza is located at 540 W. McDowell Rd., on the northeast corner of 7th Avenue and McDowell Road, at the border of Phoenix’s downtown and midtown submarkets.

 For more information on this press release, please contact:

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

Preferred Apartment Communities, Inc. Announces Acquisition of Grocery-Anchored Shopping Center in Fort Mill, SC

Joel T. Murphy

 ATLANTA, GA  -- Preferred Apartment Communities, Inc. (NYSE: APTS) ("PAC" or the "Company") announced the acquisition on September 22, 2017 of West Town Market, an approximately 67,883 square foot shopping center located in Fort Mill, South Carolina, an affluent submarket within the Charlotte, North Carolina MSA and anchored by a 48,220 square foot Harris Teeter grocery store.

 West Town Market is strategically located on the highly-travelled Highway 160 corridor just west of I-77, the main thoroughfare into downtown Charlotte.

PAC acquired this asset through its wholly-owned subsidiary New Market Properties, LLC.

 Joel T. Murphy, President and Chief Executive Officer of New Market said about the acquisition, "We are pleased to make our market entry into the Charlotte, North Carolina MSA with a market dominant grocer like Harris Teeter."

Mr. Murphy added, "The acquisition of West Town Market increases the size of our retail portfolio to 37 grocery-anchored shopping centers across seven Sunbelt states, consistent with our strategy to acquire well-positioned and highly accretive grocery-anchored shopping centers in suburban Sunbelt markets with strong demographics."

The Company financed the acquisition utilizing a non-recourse first mortgage loan from Nationwide Life Insurance Company.  The first mortgage loan is approximately $9.0 million, bears interest at fixed rate of 3.64% per annum and matures on October 1, 2025.  There are no loan guaranties provided by PAC or its operating partnership.

 For more information on this press release, please contact:

Caroline Moore • The Wilbert Group

1720 Peachtree St., Suite 350 • Atlanta, GA 30309

O: 404-254-1484 • M: 843-360-9851

http://www.thewilbertgroup.com/

Facebook | Instagram | Twitter

www.pacapts.com

$11.1M financing for 209-unit multi-housing community in Colorado Springs, CO announced by HFF

Brock Yaffe

DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $11.1 million financing for Peak 4420, a 209-unit, garden-style multi-housing community in Colorado Springs, Colorado.

Working on behalf of POV Investment Group, LLC, an affiliate of Radford Investment Properties, the HFF team placed the 10-year, non-recourse, fixed-rate loan with Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.

 The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.  Loan proceeds will be used to pay off an existing Freddie Mac loan that the HFF team arranged in 2015.

Peak 4420 is located at 4420 East Pikes Peak Avenue to the east of downtown Colorado Springs and near major thoroughfares, including State Highway 24, Route 21 and Interstate 25, providing convenient access to the area’s core employment centers.

 The seven-building property is 96.65 percent occupied and features studio, one- and two-bedroom units ranging from 520 to 750 square feet.  Community amenities include a swimming pool, dog park and playground.

The HFF debt placement team representing the borrower included director Brock Yaffe.

“Radford has now closed several loans with HFF, and we have always been very pleased with their efficiency and ability to hold the agreed upon loan terms,” stated a representative from Radford.  “We were able to lock-in an outstanding long-term fixed rate even in this low interest rate environment, all whilst their Houston office was dealing with a devastating hurricane.  We couldn’t be happier with the result.”

 For more information on this press 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 | www.hfflp.com

ohennessey@hfflp.com

http://radfordinvestments.com

HFF announces $105M financing for Class A multi-housing property in Honolulu area

7000 Hawaii Kai Drive Apartments, Hawaii Kai, Honolulu, Hawaii

SAN DIEGO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announces $105 million financing for 7000 Hawaii Kai Drive, a 270-unit, Class A multi-housing property located in the southeastern part of Honolulu, Hawaii, in the seaside community of Hawaii Kai.

Olga Walsh

Working on behalf of the developer, Avalon Group, the HFF team placed the loan with an affiliate of KKR Real Estate Finance Trust Inc. (NYSE: KREF).  Loan proceeds were used to retire the senior and mezzanine construction financing, which HFF arranged in 2014. 

7000 Hawaii Kai (7000hawaiikaidrive.com) is situated on 3.8 acres at the intersection of Keahole Street and Hawaii Kai Drive overlooking the Hawaii Kai Marina in East Honolulu.

 The two, 10-story buildings comprise 216 market-rate studio through four-bedroom units and 54 affordable units, which can be locked-off in various configurations utilizing a unique, flexible design that expands into a maximum of 415 units, accommodating a wide variety of tenant demands.

Aldon Cole

Completed in summer 2016, property amenities include a swimming pool, picnic/barbecue area, fitness center with cardio machines and yoga studio, music/meeting room, movie theatre/performance room, business center, dog wash, lush landscaping and unobstructed ocean views. 

HFF’s debt placement team included senior managing director Aldon Cole and senior associate Olga Walsh.

“The project attracted very favorable institutional financing alternatives given the lack of new, affordable for-rent alternatives in the market,” Cole said.  “KREF recognized this early on and differentiated itself from the market by providing an excellent financing solution for Avalon and its investment partner.”

                     

For more information on this press 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 | www.hfflp.com

ohennessey@hfflp.com

http://www.avalonhi.com/.

www.kkrreit.com.

Ackerman & Co. Brokers Sale of 37,750 SF Warehouse Property in Decatur, GA. for $2.2 Million

Atlanta, GA – Ackerman & Co. announced it has completed the sale of a

37,750-square-foot warehouse facility and 3.1 acres of land in Decatur, Ga., for $2.2 million. Custom Slip Cover & Upholstery, which housed its upholstery services and administrative offices in the facility, sold the land and building to Oakhurst Realty Partners.

Ben Campbell, brokerage associate at Ackerman & Co., represented the company in the transaction.

Ben Campbell

Located at 2969 East Ponce de Leon Avenue about eight miles from downtown Atlanta, the property is directly across from DeKalb Farmers Market, which is undergoing a major expansion that will more than triple the size of the popular shopping destination to more than 550,000 square feet.

“It was a pleasure to close this sale and work with owners Chean Chea and Miguel Moreno, who have operated their business in Decatur for more than 30 years and are so passionate about their field and their community,” said Campbell. 

“This sale will enable Custom Slip Cover & Upholstery to relocate to a more modern facility to continue serving its growing base of customers.”

2969 East Ponce de Leon is the original headquarters location of the Huddle House restaurant chain. The property provides 240 feet of frontage along East Ponce de Leon Avenue and is one of the last industrial sites available in Decatur.

For more information on this press release, please contact:

swebb@ACKERMANCO.NET

www.ackermanco.com

HFF announces sale of and financing for multi-anchor retail center in Tuscaloosa, AL

 

McFarland Plaza Shopping Center, Tuscaloosa, AL

ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of and financing for McFarland Plaza Shopping Center, a 234,124-square-foot retail center with multiple national anchors in Tuscaloosa, Alabama.

The HFF team marketed the property for the seller, a partnership between DDR Corp. and TH Real Estate.  GBT Realty Corporation purchased the asset.  Additionally, working on behalf of the new owner, the HFF team placed the three-year, floating-rate loan with Värde Partners.  Loan proceeds will be used to fund the acquisition of the property and to execute a capital and leasing plan to stabilize the property.

Jim Hamilton

McFarland Plaza Shopping Center is anchored by T.J. Maxx, Ross Dress for Less, Michaels and Stein Mart and also home to Cato, Dollar General, H&R Block, Pet Supplies Plus, Nail Club and Lendmark Financial.

 Situated on 20 acres at 2600 McFarland Boulevard East, the center is located on Tuscaloosa’s dominant retail artery and is exposed to more than 58,000 vehicles per day.  Additionally, McFarland Plaza Shopping Center is one mile south from the University of Alabama, the largest university in Alabama with almost 38,000 students and more than 13,000 employees. 

The HFF investment sales team representing the seller included senior managing directors Jim Hamilton and Richard Reid and associates Mike Allison and Brad Buchanan.

The HFF debt placement team representing the borrower consisted of managing director Bill Fishel and director Matthew Stewart.

For more information on this press 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.ddr.com.

www.gbtrealty.com.

https://threalestate.com.

HFF expands debt placement team in its Washington, D.C. office

Nicole Brickhouse

WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has expanded its debt placement team in its Washington, D.C. office with the hiring of managing director Dan Martin, senior directors Christopher Hew and Jamie Leachman and the promotion of Nicole Brickhouse to director.

 The team will focus on debt and equity placement origination in the Mid-Atlantic with a specific focus of multi-housing and agency transactions by Mr. Leachman and Ms. Brickhouse.

Mr. Martin has more than 20 years of commercial real estate experience and joins HFF from Walker & Dunlop where he was a senior vice president in their mortgage banking group. 

Sue Carras

 Prior thereto, he spent 17 years with GE Capital Real Estate.  Mr. Martin is a member of the Mortgage Bankers Association and the National Association of Office & Industrial Properties.  He holds a Master in Business Administration from George Mason University and a Bachelor of Science from the University of Maryland.

Mr. Hew also joins HFF from Walker & Dunlop and prior to that, GE Capital Real Estate.  He brings with him more than 12 years of commercial real estate finance experience.  Mr. Hew graduated from Johns Hopkins with a Master of Science in Real Estate and from Southern Connecticut State University with a Bachelor of Science. 

Mr. Leachman has more than 13 years of commercial real estate experience and most recently worked with Newmark Knight Frank as a managing director.  Prior to that, he was a partner on the debt and structured finance team at CBRE.  Mr. Leachman holds a Master of Business Administration from Darden School of Business and a Bachelor of Science from the University of Virginia.

Ms. Brickhouse has been with HFF since 2013 and has more than seven years of commercial real estate finance experience.  Prior to joining the firm, she was a sustainability project manager at Cassidy Turley.  She is an active member of Commercial Real Estate Women (CREW), National Association of Industrial and Office Properties and she is a committee member for Real Estate Emerging Leaders.  Ms. Brickhouse has a Master of Real Estate from Georgetown University and a Bachelor of Arts from American University.

 “We are really excited to expand our team with Dan, Chris, Jamie and Nicole, four individuals who not only bring with them a wealth of experience across all property types and financing options, but who are also culturally a great fit for the firm and our office,” said Sue Carras, senior managing director and co-head of HFF’s Washington, D.C. office.

For more information on this press 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 announces $21.1M sale of community shopping center in Toms River, NJ

 

Commons at Hooper Shopping Center, Toms River, NJ

A. Mitchell Greene

 LORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $21.1 million sale of Commons at Hooper, a 120,349-square-foot community shopping center in the coastal community of Toms River, New Jersey.

The HFF team marketed the property in connection with bidding procedures approved by the United States Bankruptcy Court for the Southern District of New York in the Chapter 11 case of AC I Toms River LLC, which entity was represented by A. Mitchell Greene, Esq. of the law firm of Robinson Brog Leinwand Greene Genovese & Gluck P.C.  

Unison Realty Partners in partnership with ALTO Real Estate Funds purchased the asset free and clear of existing debt.

The 86-percent-leased Commons at Hooper is home to 21 tenants, including Michaels, DSW, Dollar Tree, Mattress Firm, Dress Barn, The UPS Store, Avenue, Sally Beauty, Jersey Mike’s and Citi Financial.  The center was built in 1987 and has a pad site for future development. 

Commons at Hooper is situated on 14.63 acres at 1350 Hooper Avenue, a major retail corridor in Ocean County with an average daily traffic volume of approximately 40,000 vehicles per day.  An estimated 61,377 residents earning an average annual income of more than $90,000 live within three miles of the center.

Jose Cruz

The HFF investment sales team that represented the seller included senior managing director Jose Cruz, managing director Kevin O’Hearn, senior directors Michael Oliver and Stephen Simonelli and director Marc Duval.

“The value-add opportunities in well-located retail markets in the Garden State are in very high demand these days,” Cruz said. “This deal has a significant amount of upside in the leasing and potential repositioning.”

Holliday Fenoglio Fowler, L.P. and Holliday GP Corp, are licensed New Jersey real estate brokers.

For more information on this press 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.alto-investments.com

www.unisonrealtypartners.com