Alpha Wave Investors Expands Salt Lake City Metro Presence with Acquisition of 94-Unit Park Station Apartments in Midvale, UT

Park Station Apartments, Midvale, UT

Jordan Fisher

SALT LAKE CITY, UT – A subsidiaryof Alpha Wave Investors, LLC (Alpha Wave), a private equity investment firm specializing in opportunistic and value-add multifamily and hospitality assets in the Western U.S., has acquired Park Station Apartments, a 94-unit multifamily property in the Salt Lake City submarket of Midvale, Utah.

Constructed in 1974, Park Station Apartments offers two-bedroom, one-bath floorplans and easy access to local employment and several entertainment and shopping options.

The property is located at 7155 High Tech Drive #3 in Midvale, Utah.

Alpha Wave acquired Park Station Apartments from a Northern California-based private investor in an off-market transaction.

Brock Zylstra

Brock Zylstra and Danny Shin of Marcus and Millichap represented both the buyer and seller in this transaction.

David Walkin of Meridian Capital Group arranged acquisition financing for Alpha Wave. The loan was provided by Texas-based ReadyCap.

This is the third multifamily property the firm has acquired in the greater Salt Lake area within the past nine months – a strategy that is well-aligned with the firm’s focus on acquiring value-add properties in high-growth secondary markets, according to Jordan Fisher, a Founding Partner of Alpha Wave.

Daniel Shin

“We are bullish on the Salt Lake City market based on its strong growth fundamentals,” says Fisher. “While most people think of tech hubs only in coastal states, Utah’s ‘Silicon Slopes’ is in fact a giant in the technology industry, with a large startup ecosystem that includes Ancestry.com, Domo and Pluralsite. In addition, major firms such as Adobe and eBay maintain a large regional presence.”

Fisher notes that the Overstock.com and ZAGG corporate headquarters are within one mile of Park Station Apartments, which is well-located off Interstate 15 and adjacent to a TRAX light rail station, providing residents ease of access to employers throughout the metro area.

David Walkin

“The Salt Lake City region has experienced some of the highest rates of salary growth in the country over the past several years,” continues Fisher.

“Utah is poised for significant future growth, with the state’s population expected to double by 2065, positioning multifamily investments for long-term success.

"Further, the market has long garnered a strong reputation for being business-friendly, consistently ranking within Forbes’ top three Best States for Business.” 

For more information, please contact:

Elisabeth Manville / Jenn Quader

Brower Group

(949) 955-7940

emanville@brower-group.com

Managing director Patrick Dempsey joins HFF’s Phoenix office to focus on retail investment advisory transactions

 

Patrick Dempsey

PHOENIX, AZ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has expanded its investment advisory team with the addition of managing director Patrick Dempsey in its Phoenix office.  

Mr. Dempsey will focus on retail investment advisory and capital markets transactions in Phoenix and the southwestern United States.  

In his 30-plus year career, he has completed more than 30 million square feet in transactions valued in excess of $4.7 billion.  Mr. Dempsey joins HFF from Lee & Associates where he was a principal and member of the top performing investment sales team since 1996.  

Jeremy Womack

Prior thereto, he worked at Grubb & Ellis Commercial Brokerage and began his career with Pacific Southwest Realty Services. 

 Mr. Dempsey is an active member of the International Council of Shopping Centers, is a licensed Arizona real estate broker and has earned the National Association of Realtor’s CCIM designation.  Mr. Dempsey has a Bachelor of Arts in Marketing from the University of Arizona.

“We are excited for Patrick to join the HFF team here in Phoenix,” said Jeremy Womack, senior managing director and head of HFF’s Phoenix office.  

“He has an extensive history of transactional expertise in the greater Phoenix retail commercial real estate sector, and will offer our local and national clients the tools and advice they need to expand their businesses in the state of Arizona and the greater southwest region of the U.S.”

For more information, please contact:

KRISTEN MURPHY

HFF Director, Public Relations

(617) 848-1572

krmurphy@hfflp.com

PulteGroup’s West Florida Division Welcomes Branden Clarke as Controller

Branden Clarke

TAMPA, FL — PulteGroup’s West Florida Division has announced that Branden Clarke has been added to the team as Controller.

In this role, Clarke will be responsible for preparing financial forecasts, analyzing budgets and directing the accounting staff to ensure forecasted targets are being met.

Prior to joining Pulte’s West Florida division, Clarke was Controller of Pulte’s Columbus-Cleveland division.  He was also previously the Senior Corporate Auditor in Pulte’s Atlanta headquarters.  In that role, he traveled to nearly all of Pulte’s divisions to learn from the various finance and land teams.

Sean Strickler

“We are excited to have Branden as part of our West Florida division,” said Sean Strickler, Pulte’s West Florida Division President.  “Branden has come up through the Pulte ranks and understands the business and company inside and out.  We look forward to having his expertise.”

Clarke grew up in Jupiter, Florida and attended the University of Florida.  He received both a B.A. and Master’s degree in accounting.

. For more information about PulteGroup, Inc. and PulteGroup brands, please go to pultegroupinc.com; www.pulte.com; www.centex.com;www.delwebb.com; www.divosta.com and www.jwhomes.com

 OR contact:

Jasmin Curtiss

 Account Executive, BoardroomPR

jcurtiss@boardroompr.com

 O 954-370-8999

ShowingTime Adds Sales Executive Maria Burud to Senior Management Team

Maria Burud

Chicago, IL —  ShowingTime, the residential real estate industry’s leading showing management and market stats technology provider, announced today that technology and software industry veteran Maria Burud has joined the company’s senior management team.

ShowingTime President Michael Lane said Burud’s 20 years of experience in the professional services and technology industry were a perfect match for her role as Senior Vice President of Sales.
 

Michael Lane

“Maria developed successful growth strategies at several well-known software companies while building and managing productive teams,” Lane said. “Her consulting firm, The Zanon Group, has enjoyed success for many years, including work with ShowingTime. We’re thrilled to have her join our team.”

Burud ran Worldwide Sales at Placeware, Inc., a privately held Silicon Valley startup, doubling revenues to $50 million in the year prior to it being acquired by Microsoft in 2003.

 While there, she developed and cultivated a multi-layered sales model of inside and field sales organizations that focused on commercial accounts and also managed strategic partnerships and worldwide business development sales activities.

For more information, please contact:

Cash Kruth (ckruth@showingtime.com)

www.showingtime.com.

HFF announces $415 million sale of Washington Harbour in Washington, D.C.’s Georgetown submarket

Washington Harbour, Georgetown submarket, Washington, DC

Stephen Conley

WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $415 million sale of Washington Harbour, a 562,105-square-foot, world-renowned mixed-use project located along the Potomac River in Washington, D.C.’s Georgetown submarket.

The HFF team represented the seller, Principal Real Estate Investors, on behalf of a consortium of South Korean investors. 

Simone Investment and Hana Alternative Asset Management acted as the managing members of the consortium. 

 Eyal Ofer’s Global Holdings Group purchased the asset free and clear of existing debt.

Jim Meisel

The Arthur Cotton Moore-designed project consists of two freestanding, Class A towers interspersed with a dynamic, experiential year-round retail and entertainment destination. 

A $50 million renovation in 2013 delivered new retail and street-level experiences, including the addition of a fountain with programmable light and water shows in the spring and summer, which transforms into a 12,000-square-foot ice skating rink in the fall and winter months. 

 The project is currently 98 percent leased to 31 tenants such as the law firms of Foley & Lardner and Kelley Drye & Warren, as well as communications and advertising firm GMMB Inc. 

 Major retail tenants include restaurants such as Fiola Mare, Farmers Fishers Bakers, Bangkok Joe’s, Sequoia, Tony & Joe’s Seafood Place and Nick’s Riverside Grill.

Andrew Weir

The HFF investment advisory team representing the seller included Stephen Conley, Jim Meisel, Andrew Weir, Matt Nicholson and Dave Baker.

The marketing effort was further supported by CEO Mark Gibson, HFF’s national co-head of investment advisory Manny de Zárraga and HFF’s Global Capital Team comprising Dan Cashdan, Riaz Cassum, Coleman Benedict and Gerry Rohm.

Principal Real Estate Investors manages or sub-advises $83.7 billion in commercial real estate assets*.  The firm’s real estate capabilities include both public and private equity and debt investment alternatives. 

Principal Real Estate Investors is a dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.

 *as of 30 June 2018

Mark Gibson

Eyal Ofer’s Global Holdings Group is a private real estate holding conglomerate that specializes—directly and with strategic partners—in large-scale iconic office buildings, hotels and luxury residential developments, as well as investment and development assets in prime locations across North America, the United Kingdom and Europe. 

 Global’s current portfolio consists of more than 10 million square feet of real estate, comprising over 100 properties and approximately 2,500 hotel rooms. 

Global’s New York City properties include Class A office buildings such as 120 Park Avenue, 99 Park Avenue, 410 Park Avenue, 875 Third Avenue, and Nomad Tower (1250 Broadway), and iconic residential developments such as 15 Central Park West, the Greenwich Lane, 520 Park Avenue, 18 Gramercy Park and 50 United Nations Plaza. 

Manny de Zarraga

More information regarding Global Holdings Group is available at: https://www.globalholdings-mgmt.com/.

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. 

 HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing.

  HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).  For more information, please visit hfflp.comor follow HFF on Twitter @HFF.

For more information, please contact:

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com