Ware Malcomb CEO Lawrence R. Armstrong Receives Advocacy Award at Ken State University

Kent State University President Warren (center) Presents Awards
to Sandra C. Armstrong and husband Lawrence R. Armstrong

IRVINE, CA – Ware Malcomb, an award-winning international design firm, today announced its Chief Executive Officer, Lawrence R. Armstrong, has received the Kent State University Advocacy Award together with his wife, Sandra C. Armstrong. 

The Kent State University Alumni Association honored the couple and other 2018 Alumni Award recipients for their exceptional contributions in their chosen field, in their communities, and at Kent State University at a special ceremony on October 5, 2018. 

Kent State University Campus, Kent, OH

Sponsored by the Kent State University Alumni Association, the Alumni Awards are the university’s most prestigious honors given to alumni.

“It’s an amazing honor for Sandy and me to receive this award from our alma mater,” said Lawrence R. Armstrong. “My experience at Kent State had a tremendous impact on my future work as an architect and an artist, and we are happy to be able to contribute to the university.”

In 2016, the new Lawrence R. and Sandra C. Armstrong Gallery located within Kent State University’s new College of Architecture and Environmental Design (CAED) building was opened. 

As an important venue for expanded knowledge and peer-reviewed experimentation in the area of visual arts, the Lawrence R. and Sandra C. Armstrong Gallery features student and faculty projects, site-specific installations, traveling exhibitions, design competitions and other curated events that expand the CAED’s audiences and partnerships. 

Lawrence R. Armstrong art

It also provides a thought-provoking public forum for design discourse and dissemination.

Armstrong and his wife also founded the Armstrong Family Scholarship for the College Architecture & Environmental Design and the Armstrong Family Visiting Artist Series for the School of Theatre and Dance. 

Established in 2013, the Armstrong Family Visiting Artist Series is a unique program that allows a guest professional choreographer to be invited to work with students each year. 

Armstrong, who is also an accomplished artist, exhibited his Layered Vision series at the opening of the Lawrence R. and Sandra C. Armstrong Gallery, and later donated one of the pieces from the exhibit for permanent display. 

More information on Armstrong’s personal work as an artist can be found at www.lraart.com.

Armstrong is a current member and past Chair of the Kent State University Foundation Board of Directors, and he and his wife serve as Co-Chairs of the Kent State Comprehensive Campaign Executive Committee. In 2013, Armstrong was the keynote speaker at Kent State's Spring Commencement ceremonies.

  

Lawrence R. Armstrong art

CONTACTS:

Rachel Reenders

VP Public Relations,

 KCOMM for Ware Malcomb

rachel@kcomm.com

Kelly Teenor, Director, Marketing, 949.660.9128, kteenor@waremalcomb.com

Maureen Bissonnette, Associate Principal, Marketing, 949.660.9128, mbissonnette@waremalcomb.com

waremalcomb.com

For more information, visit waremalcomb.com/news and view Ware Malcomb’s Design Highlights video at youtube.com/waremalcomb.

HFF announces $15.65 million construction financing for self storage facility near New York City

Rendering of planned Hillside CubeSmart self storage facility,
501 North Union Avenue, Hillside, NJ

Geoff Goldstein

NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $15.65 million construction financing for the development of Hillside CubeSmart, a 1,203-unit, CubeSmart-branded self storage facility in Hillside, New Jersey.

The HFF team worked on behalf of the developer, Quinlan Development Group, to place the construction loan with Bank OZK.  

CubeSmart, one of the nation’s top operators of self storage facilities in the U.S., has been brought on to lease and manage the property.

Hillside CubeSmart will feature 1,162 climate-controlled and 41 non-climate-controlled drive-up units.  The property is located at 591 North Union Avenue immediately off of the Garden State Parkway, which exposes the property to more than 282,000 vehicles per day. 

Michael Klein

The development will be in Hillside, a community in Union County less than 15 miles from New York City with a current shortage of self storage space.  More than 300,000 people living in 108,562 households live within a three-mile radius of the site. 

The HFF debt placement team representing the borrower consisted of senior director Geoff Goldstein, managing director Michael Klein and senior managing director Jay Marshall.

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

Quinlan Development Group is a privately-held real estate investment and development company based in New York City, with a commitment to long-term ownership. 

Founded in 1971, the multi-generational family company has earned a reputation as one of New York City’s most well-respected developers.  Quinlan Development Group has a track record of success during all market cycles and across multiple asset types. 

Jay Marshall

CONTACTS:

GEOFF GOLDSTEIN

HFF Senior Director

(212) 245-2425

ggoldstein@hfflp.com

MICHAEL KLEIN

NJ Lic. #0897008

HFF Managing Director

(973) 549-2000

mklein@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

https://quinlandev.com 

HFF announces sale of and financing for 258-unit apartment community in suburban Chicago

Stone Crossing Apartments, 1240  Nantucket Road, Aurora, IL

David Gaines

CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of and acquisition financing for Stone Crossing Apartments, a 258-unit apartment community in the Chicago suburb of Aurora, Illinois.

The HFF team marketed the property exclusively on behalf of the seller, a partnership between Graycliff Capital Partners, LLC, Buligo Capital Partners and The Ferndale Realty Group, and procured the buyer, Cunat Inc. 

 Additionally, HFF worked on behalf of the new owner to secure a three-year, floating-rate acquisition loan through Bridge Debt Strategies Fund Manager LLC, a subsidiary of Bridge Investment Group LLC, which currently manages over $12 billion of assets under management.

Stone Crossing Apartments is located at 1240 Nantucket Road approximately two miles south of Interstate 88 and three miles from downtown Aurora. 

Sean Fogarty

The property’s location offers accessibility to suburban Chicago’s major employment corridors, as well as leading regional healthcare providers and multiple retail and entertainment amenities. 

Stone Crossing consists of three two-story townhome buildings comprising three-bedroom units averaging more than 1,200 square feet each and two three-story apartment buildings comprising a mix of one- and two-bedroom apartment units averaging more than 760 square feet.

Cunat Inc. acquired Stone Crossing as a value-add opportunity with plans to completely upgrade, renovate and re-brand the community under the new name, Arbor West.  Cunat Inc. will renovate unit interiors, demolish the current community buildings, and build a new leasing office, clubhouse and indoor pool. 

The parking lot and landscaping will also be rehabbed, which will reposition the property into a new class of apartments in Aurora.  Home and property amenities currently include white kitchen cabinetry with brushed nickel hardware, tile backsplashes in the kitchen and an outdoor picnic area with grills.  The community was 97 percent occupied at closing.

Trent Niederberger

The HFF investment advisory team representing the seller included senior director David Gaines and senior managing director Sean Fogarty.

HFF’s debt placement team representing the borrower included senior directors Trent Niederberger and Jason Bond.

Graycliff Capital Partners is a real estate investment company focused on pursuing value-add investments in high-growth markets.  

Graycliff’s principals bring over 119 years of combined experience in capital markets, construction and property management to every investment strategy pursued by the firm. 

 To date, the firm has raised over $230 million in equity for $800 million in real estate transactions that encompass 7,449 units managed across 36 properties.

Buligo Capital Partners is a global real estate investment firm that provides investors with the opportunity to invest globally alongside experienced operators.  

Jason Bond

With offices in Israel and the United States, as well as strategic partnerships worldwide, Buligo is able to offer its clients a broad range of investment options for different risk profiles while providing portfolio diversification across geographies and currencies.

The Ferndale Realty Group is a Boulder, Colorado-based real estate investment company focused on the acquisition and ongoing operations (through a licensed real estate company) of apartment communities throughout the United States.

Founded by Brian and John Cunat in 1976, Cunat Inc. has developed, acquired, rehabilitated, operated and managed dwelling rental property throughout the Midwest for over 40 years.

 Cunat Inc.’s investment strategy is anchored in the repositioning of undervalued properties and operating them under the firm’s in-house property management division.

John Cunat

Cunat’s in-house Asset Acquisition, Asset Reconstruction and Asset Management teams work closely to identity properties that fit the company’s value-enhancement profile and develop strategic plans for the rehabilitation and long-term stabilization of each investment.

CONTACTS:

DAVID GAINES

IL Lic. #475.137087

HFF Senior Director

(312) 528-3650

dgaines@hfflp.com

TRENT NIEDERBERGER

IL Lic. #475.153065

HFF Senior Director

(312) 528-3682

tniederberger@hfflp.com

JASON BOND

IL Lic. #475.159000

HFF Senior Director

(312) 528-3650

jbond@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

HFF announces sale of largest conference center hotel in Vermont

Doubletree by Hilton Burlington Hotel, Burlington, VT

Denny Meikleham

BOSTON, MA –- Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of the 309-room DoubleTree by Hilton Burlington in Burlington, Vermont.

The HFF team marketed the property on behalf of the seller, RLJ Lodging Trust, and procured the buyer, AAM 15 Management, LLC. 

The DoubleTree by Hilton Burlington is located at 870 Williston Road at the intersection of Interstate 89 and Route 2 just one mile east of downtown Burlington and Lake Champlain. 

The hotel benefits from its location proximate to various demand drivers, including The University of Vermont and several local colleges, the UVM Medical Center, downtown Burlington and the Champlain Islands. 

Alan Suzuki

The hotel is the largest conference center hotel in Vermont with 30,000 square feet of event space and offers guests access to a restaurant and lounge, indoor heated pool, fitness center, business center, gift shop and complimentary shuttle service. 

The HFF investment advisory team representing the seller consisted of managing director Denny Meikleham, senior director Alan Suzuki and director Matthew Enright. 

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust focused on owning premium-branded, focused-service and compact full-service hotels.

 The company’s portfolio consists of 152 hotels with approximately 29,490 rooms located in 26 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.  Learn more at rljlodgingtrust.com.

Matthew Enright

AAM 15 Management is an independent private equity hotel investment and management company. 

AAM 15 Management pursues acquisitions of hotel assets in the urban and suburban core throughout the east coast of the United States.

Management targets growing business locations, with an emphasis on those that combine education, commercial growth and positive 24/7 population trends.

CONTACTS:

DENNY MEIKLEHAM

HFF Managing Director

(617) 848-1572

dmeikleham@hfflp.com

ALAN SUZUKI

HFF Senior Director

(617) 338-0990

asuzuki@hfflp.com

JAIME FINK

VT Lic. #081096202

HFF Senior Managing Director

(312) 528-3650

jfink@hfflp.com

KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990
krmurphy@hfflp.com