Medical Diagnostic Imaging (MDI) to Relocate to HSA Commercial’s Office Building Redevelopment in Wauwatosa, WI

Medical Office Building, 3077 North Mayfair Road, Wauwatosa, WI

CHICAGO, IL and  MILWAUKEE, WI  — HSA Commercial Real Estate announced the firm has executed a 4,557-square-foot lease with Medical Diagnostic Imaging (MDI) for the final remaining ground floor space at 3077 N. Mayfair Road in Wauwatosa, Wis.

Dr. David Hinke

 MDI, which specializes in providing hospital-quality radiology services at affordable prices in convenient outpatient environments, will relocate its existing imaging center operations from 8522 W. Capitol Drive in Milwaukee to the recently redeveloped mixed-use building at the southwest corner of Mayfair Road and Burleigh Street.

Based on current construction schedules, the new MDI imaging center is scheduled to open later this year.

“Medical Diagnostic Imaging (MDI) is excited to move one of its locations to 3077 N. Mayfair Road in Wauwatosa later this year,” said Dr. David Hinke, president of MDI. “We look forward to extending these services to patients and clinicians in this area and becoming part of this growing community.”

Brenton Schrader, vice president of retail leasing and marketing with HSA Commercial Real Estate, said:

“Although these ground floor spaces were originally designed for retail uses, we are finding that medical groups such as the Orthopedic Institute and MDI really value the exposure and convenience of access and parking that these properties offer as well as the restaurant and retail amenities nearby.

Brenton Schrader

“As we continue to build out the rest of The Mayfair Collection, we are mindful of this merger of retail and healthcare and are increasingly working with more medical groups to explore opportunities for clinical and administrative office locations within the various phases of our project.”

The Orthopedic Institute of Wisconsin and Athletico both opened clinics in the neighboring storefronts at 3077 N. Mayfair Road earlier this year.

 For more information, please contact:

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

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

HFF announces $22 million financing for garden-style apartments in South Florida’s Broward County

Coral Falls Apartments, 2801 91st Street NW, Coral Springs, FL

Josh Simon

DENVER, CO–– Holliday Fenoglio Fowler, L.P. (HFF)announces $22 million in financing for Coral Falls, a 190-unit, garden-style multi housing community in Coral Springs, Florida.

The HFF team worked on behalf of CF Partners, Ltd. and Iron River Management, LLC to secure the seven-year, 4.47 percent, fixed-rate, interest-only loan through Freddie Mac’s CME Program. 

The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.  Loan proceeds are being used to replace a floating-rate loan the HFF team arranged on the owner’s behalf in 2015.

Coral Falls is located at 2801 NW 91^st Street in Coral Springs providing access to Boca Raton to the north and Fort Lauderdale and Miami to the south. 

Elliott Throne

The 99-percent-leased asset has a mix of newly renovated one- and two-bedroom floor plans averaging 1,029 square feet each.  

Community amenities include a swimming pool with sundeck, brand new fitness center, picnic areas, tennis court, playground and car wash station.

The HFF debt placement team representing the borrower included managing directors Josh Simon and Elliott Throne.

“Our goal with Coral Falls has always been to hold long-term, maintain our presence in the market, and maximize our cash flow,” said Jonathan Ringham, President of Southshire, the general partner of CF Partners Ltd., and owner of Iron River Management, LLC. 

“The HFF team has always understood this and provided the necessary guidance to achieving our long-term goals.  The placement of this debt allows us to continue our history of success with this property.”

 For more information, please contact:

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

HFF announces acquisition financing for industrial building near Philadelphia

103 Central warehouse distribution center,
Mount Laurel Township, NJ

FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announces the acquisition financing for 103 Central, a highly divisible, Class B+, 112,000-square-foot warehouse distribution center located in the Philadelphia-area community of Mount Laurel Township, New Jersey.

The HFF team worked on behalf of the borrower, Burton Real Estate (BRE), to place a two-year, floating-rate loan with one one-year extension. 

The loan will enable the borrower to purchase the property and execute its business plan, which includes leasing up the currently 74-percent-occupied building.  This financing comes on the heels of another recently announced transaction on behalf of BRE, 405 Heron Drive, which is also a suburban Philadelphia industrial property. 

Michael Klein

Situated on 5.57 acres, 103 Central is part of the “3M” area of Marlton, Mount Laurel and Moorestown less than one mile from the New Jersey Turnpike and Interstate 36.

  The property‘s location allows tenants access to 19 major U.S markets and nearly 40 percent of the U.S. population within 24 hours. 

It is also positioned within 200 miles of three major ports, Ports of Newark/Elizabeth, Philadelphia and Baltimore, and is less than one mile from Interstate 295 (Exit 36) and New Jersey Turnpike (Exit 4), making it a highly desirable location. 

The one-story property features 18-foot clear heights and a combination of exterior and interior loading docks.

The HFF debt placement team representing the borrower included managing director Michael Klein.

“HFF is pleased to have had the opportunity to once again secure acquisition financing on behalf of Burton Real Estate as it continues to grow its portfolio of industrial properties,” Klein said. 

HFF and Holliday GP Corp. are licensed New Jersey real estate brokers.

Burton Real Estate is a privately held real estate investment firm specializing in the acquisition, management, and potential redevelopment of both performing and under performing properties in the United States. 

For more information, please contact:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

http://burtre.com 

Sound West Group and Securities Veteran Greg Genovese Launch New Company in Seattle Focused on Qualified Opportunity Zone Funds

Greg Genovese

SEATTLE, WA– Sound West Group, a leading property developer and asset manager in Seattle, Washington, announced today the launch of Sound West Realty Capital, an investment firm primarily focused on the sponsorship of project-specific qualified opportunity zone funds, in partnership with securities and real estate investment industry veteran Greg Genovese.

Sound West Realty Capital’s opportunity zone investment strategy is the result of a comprehensive internal study initiated in March 2018 of the Tax Cuts and Jobs Act of 2017, which allows for the creation of opportunity zones in each of the 50 states.

The Sound West study determined that there are notable investor advantages and program structures available to best facilitate successful opportunity zone investments. The study also estimates that the demand for this type of investment program will be significant.

Wes Larson

Genovese, a 30-year veteran of the real estate securities industry, leads Sound West Realty Capital as principal and president. 

He has played pivotal roles in the creation and growth of some the country’s largest and most respected realty capital groups.

“The timing is right for us to take this next step as we’ve continued to grow our development and asset management business,” said Sound West Group Chief Executive Officer Wes Larson.

"We have built a reputation over many years of delivering above average returns for our investors while also providing socially responsible, investor-centric programs, and the launch of Sound West Realty Capital is a natural extension for our expertise.

“Our entry into the real estate securities capital markets is one we are well-suited and prepared for with Greg at the helm. I’ve worked with Greg for more than 20 years in the securities industry and he is a phenomenal leader. His proven abilities to create and grow realty capital companies that are best in class make this venture a great match.”

Jonathan Morris

Jonathon Morris, a professor in Georgetown University’s Master of Professional Studies in Real Estate program and a Sound West Realty Capital board member, said:

“I particularly like that Sound West is focused on project-specific programs supported by tax opinions.

"The tax advantages are outstanding, of course, and opportunity zone funds can be a real game changer, but I’ve always cautioned investors to not invest exclusively because of the tax advantages.

“Rather, invest because of your belief in the project, the demographic drivers, the management, and the exit strategies. History tells us that deals are successful because they are good deals and managed properly, period.”

For more information, please contact:

Jill Swartz

Spotlight Marketing Communications                   

949.427.1389 
jill@spotlightmarcom.com

Sound West Group and Securities Veteran Greg Genovese Launch New Company in Seattle Focused on Qualified Opportunity Zone Funds

Greg Genovese SEATTLE, WA  – Sound West Group, a leading property developer and asset manager in Seattle, Washington, announced the launch of Sound West Realty Capital, an investment firm primarily focused on the sponsorship of project-specific qualified opportunity zone funds, in partnership with securities and real estate investment industry veteran Greg Genovese. Genovese, a 30-year veteran of the real estate securities industry, leads Sound West Realty Capital as principal and president. He has played pivotal roles in the creation and growth of some the country’s largest and most respected realty capital groups.

“The timing is right for us to take this next step as we’ve continued to grow our development and asset management business," said Sound West Group Chief Executive Officer Wes Larson. 

Wes Larson

“I particularly like that Sound West is focused on project-specific programs supported by tax opinions, said Jonathon Morris, a professor in Georgetown University’s Master of Professional Studies in Real Estate program and a Sound West Realty Capital board member.

"The tax advantages are outstanding, of course, and opportunity zone funds can be a real game changer, but I’ve always cautioned investors to not invest exclusively because of the tax advantages.

 “Rather, invest because of your belief in the project, the demographic drivers, the management, and the exit strategies. History tells us that deals are successful because they are good deals and managed properly, period.”

Jonathan Morris

A qualified opportunity zone fund is a new investment vehicle created as part of the Tax Cuts and Jobs Act of 2017, where people can invest their gains from prior investments into designated state opportunity zones. 

These investments provide significant tax benefits to investors and stimulate economic development and job creation. 

The tax benefits include a temporary deferral of taxes arising from gains invested in an opportunity zone, an increase in basis that reduces the amount of taxes ultimately owed in respect of the deferred gains, and a potentially permanent exclusion from taxable income of gains arising from the new investment in the qualified opportunity zone fund. 


For more information, please call:

Jill Swartz

Spotlight Marketing Communications                   

949.427.1389 
jill@spotlightmarcom.com

soundwestrc.com or call 877-277-7886.

NAI Realvest Negotiates $3.975 Million Sale of Downtown Orlando’s Historic Church Street Train Depot Property

Church Street Train Depot, 78 and 90 West Church Street, Downtown Orlando

Rob Nunziata

ORLANDO, FF – NAI Realvest completed the $3,975,000 sale of the historic Church Street Train Depot, a venue consisting of 15,000 square feet under roof, located at 78 & 90 West Church St. in downtown Orlando. 

NAI Realvest principals Kevin O'Connor and Matt Cichocki negotiated the transaction on behalf of the seller, Ferg’s Depot,which had been operating as a sports bar and restaurant until just prior to close of the sale.   

Joe Nunziata

Local investors, brothers Joe and Rob Nunziata, and principals of Orlando Crazy Train LLC, purchased the property “to bring more retail back into downtown Orlando.” 

 They’re seeking a national or regional retailer to fill the space at this high-profile Church Street location.     Christi Smith of Stoneshire Realty represented the Nunziatas.

For more information, please contact: 

  

Beth Payan, Larry Vershel Communications Inc.

407 644 4142 Lvershelco@aol.com

Lewis Retail Centers Opens Renaissance Marketplace, a Ground-Up 'Taste, Shop and Experience' Center in Rialto, CA

 

Renaissance Marketplace, Rialto, CA

Randall Lewis

 RIALTO, CA – Lewis Retail Centers has opened the first portion of its Renaissance Marketplace, a 430,000 square-foot shopping, dining and entertainment center, which is one of the first ground-up retail centers to be built with modern architecture, tenanting, and marketing specifically for today’s Millennials, according to Randall Lewis, Executive Vice President of Marketing of the Lewis Group of Companies, Lewis Retail Centers’ parent company. 

“Millennials are now 22 to 37 years old, encompassing both youthful singles and parents of young children,” Lewis notes.  “This center is not only situated in a vibrant location, it is also built and tenanted with the options and design that Millennials and Boomers alike have come to desire in a community gathering spot.”

Tenants will include favored eateries such as The Habit, California Fish Grill, Ahi Poke Bowl, Pho ’77, Panera Bread and Septembers Taproom and Grill, as well as hip shopping options, such as Five Below, a 22,000 square-foot Ross, a Grocery Outlet, and a 43,000 square-foot Burlington.

Wayne T. Williams

Renaissance Marketplace, which is anchored by Cinemark Theatres, 24 Hour Fitness and Burlington, are all tenants that are performing extremely well across the country, Lewis notes.

Renaissance Marketplace is already a local favorite, according to Wayne Williams, Director of Marketing for Lewis Retail Centers.

“Our 24 Hour Fitness club posted strong numbers for new members prior to opening their doors and continues to welcome new members at a robust pace.  When we opened our Starbucks, we had hundreds of people come in the first day,” Williams notes. 

The center is located off the 210 Freeway with more than 127,000 daily traffic count. 

For more information, please contact:

Lexi Astfalk · Account Director 
O 949 955 7940 

Brower Group, Inc.
The Smart Agency™ for Smart Clients who want Smart Work
895 Dove Street, Third Floor · Newport Beach, CA 92660

Email · Website · Facebook · Twitter · Instagram

www.lewisgroupofcompanies.com.