HFF announces $51.5 million sale of The Residences at City Center in Manassas Park, VA

The Residences at City Center, Manassas Park, VA

                                                                                       Photo by Nick Waring

Walter Coker

WASHINGTON, D.C.–– Holliday Fenoglio Fowler, L.P. (HFF) announces the $51.5 million sale of The Residences at City Center, a 291-unit apartment community with ground-floor retail in Manassas Park, Virginia.

The HFF team marketed the property on behalf of the seller, and procured the buyer, Mexico City-based HASTA Capital.

The Residences at City Center is located at 170 Market Street directly across from the Manassas Park Virginia Railway Express (VRE) station along Manassas Drive in Prince William County.

The transit-oriented property is ideally positioned near the largest employment centers and major thoroughfares in the Northern Virginia region as well as an abundance of retail and entertainment options. 

Brian Crivella

The Residences at City Center comprises 255,608 square feet of residential space featuring high-quality, modern finishes and 43,708 square feet of ground-floor retail. 

 Community amenities include an outdoor pool with lounge area and grill station, state-of-the-art fitness center, clubhouse, business center, Wi-Fi café and a mix of surface parking and single-car garages.

The HFF investment advisory team representing the seller included Walter Coker, Brian Crivella and Dek Potts.

HASTA Capital is focused on the investment, development and management of residential multifamily rental assets in Latin America and the U.S. 

Headquartered in Mexico City, HASTA combines its specialized operational expertise, rigorous analytical methodology and meticulous attention to detail, sustainability and quality control to create world-class buildings and living environments that improve their cities and generate superior risk-adjusted returns for their investors.  

 

Dek Potts

  

For more information, please contact:

  

hfflp.com Olivia Hennessey Public Relations Specialist 9 Greenway Plaza Suite 700 Houston ,  TX  77046 T: 713-852-3403 ohennessey@hfflp.com |@|*

http://www.hastacapital.com/

HFF announces financing for six--property, 2,000+ unit multi-housing portfolio in Dallas-Fort Worth, TX

Jeremy Sain

DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announces acquisition financing for a six-property multi-housing portfolio totaling 2,048 units in the Dallas-Fort Worth metropolitan area.

The HFF team worked on behalf of the borrower, Exponential Property Group, to secure the fixed-rate loan through Global Atlantic Financial Group.

The six properties in the portfolio are Cedar Point at 2020 Cedar Point Drive in Arlington (272 units); Emerald Hills & Normandale at 8950 N. Normandale Street in Fort Worth (398 units); Marine Creek at 4500 Marine Creek Parkway in Fort Worth (248 units); The Woodlands at 7040 John T. White Road in Fort Worth (346 units); Pecan Knoll & Broadway at 1051 E. Centerville Road in Garland (492 units); and Quail Ridge at 1919 W. Tarrant Road in Grand Prairie (292 units).  The assets are approximately 98 percent leased overall.

The HFF team representing the borrower included managing director Jeremy Sain.

“We were attracted to this acquisition for many reasons, including the opportunity to essentially double our DFW portfolio as well as the attractive returns the properties will make available for our investors,” said Kim Radaker, founder and managing principal of Exponential Property Group.  

Kimberly Radaker

“Throughout the acquisition, we worked closely with the previous owner to help us retain the majority of the existing staff as it was important to us to utilize their individual expertise to help make this new venture a success going forward.”

“HFF did a remarkable job in quickly identifying Global Atlantic as an ideal partner,” Radaker continued. “The creative structure Global Atlantic brought to the table allowed us to close this large portfolio in a timely manner, and we greatly appreciate both the HFF and Global Atlantic teams’ flawless performances throughout the entire process.”

For more information, please contact:

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

Tempe, AZ Office Market Strength Extends South, Promotes $23 Million Sale

Warner Courtyards, Tempe, AZ

PHOENIX, AZ – A Tempe, Arizona address and quality tenancy were key to the $23 million sale of Warner Courtyards, completed this week by the Phoenix office of JLL.

The seller was locally based building owner and manager Hannay Realty Advisors. The property buyer, Simone Charitable Foundation Inc., acquired a 95 percent interest in the office building. Hannay retained 5 percent ownership interest in the property.

Brian Ackerman

“The Simone Foundation was very attracted to this building’s Tempe address and its roster of long-term credit and blue chip tenants that operate within very stable industries,” said JLL Senior Vice President Brian Ackerman, who brokered the deal with JLL Senior Vice President Dan Postal.

“These advantages, along with the positive long-term performance of the Southeast Valley office market, are hard to replicate.”

According to JLL, the submarket is home to only 30.3 percent of the Valley’s office inventory, but has accounted for almost 55 percent of the total net absorption in metro Phoenix since 2010.

“That same ratio holds true as recently as the past 12 months, with Tempe recording 54.4 percent – or more than 621,000 square feet – of the Southeast Valley’s 1.1 million square feet of total office absorption,” said Ackerman.

Warner Courtyards is located at 301 W. Warner Road, at the southeast corner of Warner and Kyrene roads in the heart of Tempe.

Dan Postal

The office building totals 114,054 square feet and features single-story construction with high ceilings, a floor-to-ceiling glass line and four interior courtyards.

 It is less than two miles from a full diamond interchange at Interstate 10, and approximately three miles from the U.S. 60 and the Loop 101 and Loop 202 freeways. It is surrounded by a highly educated workforce, popular residential communities, and is less than 15 minutes from Sky Harbor International Airport.

Notable tenants at Warner Courtyards include Cenlar FSB, Career Education Corp. and Global Lending Services. The building has been institutionally managed by Hannay Realty Advisors. Hannay will continue to manage the property under its new ownership.

  

 For more news, videos and research resources on JLL, please visit ir.jll.com or www.jll.com/phoenix.

For more information, please contact:

Contact: Stacey Hershauer

Phone: +1 480 600 0195

Email: stacey@focusaz.com

Jeff Saywitz of Voit's Tenant Rep. Group Brokers $6 Million, 165,300-SF Industrial Lease in Fontana, CA

Applied Industrial Technologies’ (AIT)  165,300-SF distribution facility in Fontana, CA

Fontana, CA (July 16, 2018) – Voit Real Estate Services is proud to announce that Jeff Saywitz, Senior Vice President and Partner for the Tenant Rep. Group at Voit, has successfully negotiated the renewal and extension of the Applied Industrial Technologies’ (AIT) distribution facility in Fontana.

The 5-year lease was valued at nearly $6 million on a 165,300 square-foot space. The space houses multiple divisions of the company and serves as one of the primary distribution hubs for the western U.S. operations.

Jeff Saywitz

 Robin Dean, Vice President, Asset Management for Washington Capital Management, Inc., represented the Landlord, Vintage Park East, LLC.

“AIT is pleased to have been able to secure favorable terms and continue its long-standing tenancy in the park,” according to Saywitz.  “Ownership’s flexibility and consideration is also allowing AIT to perform improvements to help the company function more efficiently.”

The property is located at Vintage Park East, in Fontana.

Voit Real Estate Services is a privately held, broker owned Southern California commercial real estate firm that provides strategic property solutions tailored to clients' needs. Throughout its 45+ year history, the firm has completed more than $48.1 billion in brokerage transactions encompassing more than 46,000 brokerage deals. 


 Voit’s unmatched expertise in Southern California brokerage, investment advisory, financial analysis, and market research enable the firm to provide clients with forward looking strategies that create value for a wide range of assets and portfolios. Further information is available at www.voitco.com.

Robin Dean

The Tenant Rep. Group at Voit Real Estate Services exclusively represents tenants and users of commercial real estate throughout Southern California and the United States.  

For more information, please contact:

 Jeff Saywitz

Voit Real Estate Services
858.458.3327
jsaywitz@voitco.com

OR

Jessamyn J. Wilkinson | Director of Marketing

Voit Real Estate Services

2020 Main Street, Suite 100 | Irvine, CA 92614

T (949) 263-5314 | C (949) 929-7147

jwilkinson@voitco.com | www.voitco.com

Voit Real Estate Services, Broker License # 01991785

HFF announces $150 million financing of The Wrigley Building in Chicago

 The 18-story North and 26-story South Tower of the 478,920-SF Wrigley Building, at 400 and 410 North MIchigan Avenue,
Chicago, IL

CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announces $150 million in financing for The Wrigley Building, an iconic Class A office and retail property totaling 478,920 square feet in Chicago, Illinois.

The HFF team worked on behalf of the borrower, Mansueto Properties LLC, to secure the 30-year, fixed-rate acquisition financing through a major life insurance company. 

Originally built in 1921 and 1924, The Wrigley Building is one of Chicago’s most iconic properties and is listed on the National Register of Historic Places. 

Joe Mansueto

The two-tower property, which has connecting walkways on the third and 14^th floors, was completely renovated from 2012 to 2014 to create modern office and retail space, to further enhance the historic façade and provide tenants with best-in-class amenities, including a fitness center, tenant lounge and conference center. 

 The 18-story North and 26-story South Tower are 90 percent leased overall to tenants including, American Medical Association, Leo Burnett, ABA, Nuveen, Walgreens and Perkins + Will. 

 Located at 400-410 North Michigan Avenue, The Wrigley Building sits at the northwest corner of North Michigan Avenue and the Chicago River. 

Stephen Skok

 This location in the North Michigan Avenue submarket has a robust amenity base with world-class shopping along the “Magnificent Mile”, abundant hotels and meeting space, numerous residential options, various cultural institutions and many recreational activities/facilities. 

“We are committed to preserving the legacy of this building and ensuring that it remains a vital part of Chicago’s growth well into the future,” said Joe Mansueto of Mansueto Properties LLC.

The HFF debt placement team representing the borrower consisted of managing director Stephen Skok.

“The Wrigley Building is an iconic symbol of Chicago, which will serve as a long-term, generational real estate investment for Mansueto Properties,” Skok said.

For more information, please contact:

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com