HFF announces sale and financing of Hampton Inn & Suites Providence/Smithfield outside Providence, Rhode Island

Jennifer Keller

BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale and financing of the 101-room Hampton Inn & Suites Providence/Smithfield located in the Providence-area community of Smithfield, Rhode Island.

Daniel C. Peek

The HFF team represented an institutional seller, and procured the buyer, Excel Group.  

HFF’s debt placement team worked on behalf of Excel to secure the 12-year, floating-rate acquisition and renovation loan through Bank Newport.  The hotel was marketed as part of a three-property Northeast hotel portfolio that also included the recently-closed Hyatt House Bridgewater in Bridgewater, New Jersey.  

Hampton Inn & Suites Providence/Smithfield is positioned at 945 Douglas Pike along Interstate 295, Providence’s primary beltway.

This location is close to corporate and leisure demand drivers, including Fidelity Investments campus, CVS’s global headquarters, Twin Rivers Casino, Bryant University and downtown Providence, less than eight miles to the southeast.

Denny Meikleham

The hotel is also proximate to Citizens Bank’s new 123-acre campus that opened with 3,000 employees in August 2018.

The four-story hotel features traditional guestrooms and 22 suites along with amenities, including complimentary breakfast, complimentary guest shuttle, an indoor heated pool, fitness and business centers, boardroom and guest laundry facilities. Excel Group plans to improve the hotel further by completing a renovation.

The HFF investment advisory team representing the seller consisted of senior managing director Daniel C. Peek, managing director Denny Meikleham, senior directors Alan Suzuki and KC Patel, director Matthew Enright and senior managing director James Koury.

Alan Suzuki

HFF’s debt placement team representing the borrower included senior directors Chris Hew and Jennifer Keller.

Excel Group is a multi-disciplined hotel private equity firm focused on acquiring and developing premium-branded select-service hotels.

Headquartered in Arlington, VA, the firm owns and asset manages a portfolio of hotels.

Excel Group specializes in developing and acquiring hotel investments, minimizing risk and maximizing performance through intensive asset management and selling to leading institutions.

Hampton Inn & Suites Providence/Smithfield
 945 Douglas Pike, Smithfield, RI

Since its founding in 2011, Excel Group has executed over 35 transactions totaling over $600 million in deal volume.

Chris Hew

The firm’s fully integrated platform with expertise in acquisitions, asset management and development enables Excel Group to achieve risk-adjusted returns that consistently outperform industry averages.

 For more information, please visit www.excelgp.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.

K.C. Patel

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.com or follow HFF on Twitter @HFF.

Matthew Enright

James Koury

CONTACTS:

DENNY MEIKLEHAM

HFF Managing Director

(617) 848-1560

dmeikleham@hfflp.com

ALAN SUZUKI

HFF Senior Director

(617) 338-0990

asuzuki@hfflp.com

JAMES KOURY

RI Lic. #REC.0014481

HFF Senior Managing Director

(617) 338-0990

jkoury@hfflp.com

CHRIS HEW

HFF Director

(202) 533-2500

chew@hfflp.com

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

HFF announces $32.5 million financing of mixed-use campus in Seattle’s historic Georgetown neighborhood

 Original Rainier Brewery, 5624-6004 Airport Way South,
 Seattle, WA

SEATTLE, WA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $32.5 million financing for the acquisition of the Original Rainier Brewery, a four-building, creative, mixed-use campus totaling 187,466 square feet in the historic Georgetown neighborhood of Seattle, Washington. 

The HFF team worked on behalf of the borrower, ScanlanKemperBard (SKB), to secure the three-year, floating-rate loan with two one-year extension options with a debt fund.  SKB has plans to further elevate the stature and improve the bustling property, while maintaining the historic integrity.

Todd Gooding

The Original Rainier Brewery was constructed in the early 1900s as the brewery for Seattle Brewing and Malting Company and eventually housed Rainier Beer. 

The property is a designated landmark that encompasses four separate buildings – the Bottling Plant, the Malt House, the Warehouse and the General Office – in addition to two land parcels. 

The buildings, which were designed for creative industrial/light manufacturing uses, feature natural light, exposed brick, original flooring, historical detailing and unique layouts and are 92-percent leased to 55 tenants.

Brian Hughes-Cromwick

They include REI, Patagonia, Keen, Elysian Brewing Company, Frans Chocolate and Kyoto Art and Antiques.  Located at 5624-6004 Airport Way South, the Original Rainier Brewery is in Georgetown, Seattle’s oldest neighborhood, and four miles south of the Seattle CBD. 

“This is the fourth acquisition for our Urban Industrial platform,” said SKB President Todd Gooding.  “We see an untapped demand for local and regional manufactures.  The Original Rainier Brewery asset fits this profile.”

“We are grateful to the Sabey Corporation for entrusting us to leverage the good work they have already done, both at the property and in the community,” added SKB’s Vice President of Acquisitions Brian Hughes-Cromwick. 

Tom Wilson

 “We are excited to have the opportunity to build off of that work to take the property to the next level and become a part of the dynamic Georgetown community.”

HFF’s debt placement team representing the borrower included senior managing director Tom Wilson and associate Zachary Kersten.

SKB is an established real estate merchant banking firm based in Portland, Oregon. 

Since its inception in 1993, SKB has originated total portfolio activity of $4.3 billion, including equity invested of $1.52 billion, comprised of 28.7 million square feet of office, industrial and retail space and 2,154 residential units.

 With longstanding relationships in each of their markets, SKB has the ability to source, structure and execute value creation across a wide spectrum of real estate opportunities.  Please visit https://skbcos.com to learn more. 

CONTACTS:

TOM WILSON

HFF Senior Managing Director

(206) 576-0050

twilson@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

HFF announces sale and $11 million acquisition financing of southwest Florida grocery-anchored community center

Northpoint Shopping Center, Cape Coral, FL

MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale and $11 million acquisition financing of Northpoint Shopping Center, a 115,906-square-foot, grocery-anchored community retail center in the southwest Florida community of Cape Coral, Florida.

Kimberly Flores

The HFF team marketed the property on behalf of the seller.  ALTO Real Estate Funds purchased the asset free and clear of existing debt.  Additionally, working on behalf of the new owner, the HFF team placed the 10-year, fixed-rate acquisition loan with Wells Fargo Bank, N.A.

Daniel Finkle

Completed in 2008, the 96.9-percent-leased Northpoint Shopping Center is home to Bed Bath & Beyond, Michaels, PetSmart, ALDI, Five Below and more. 

 Additionally, the center is shadow anchored by an adjacent Publix and BJ’s Wholesale Club.  

Situated on 15.5 acres at 1803-1851 Northeast Pine Island Road, Northpoint Shopping Center is positioned along the trade area’s busiest thoroughfare and primary retail corridor. 

 More than 132,473 residents live within a five-mile radius of the center, and the population is expected to increase by nearly 10 percent over the next five years.

Luis Castillo

The HFF investment advisory team that represented the seller included senior managing director and co-head of HFF’s retail practice Daniel Finkle, managing director Luis Castillo, director Eric Williams and senior associate Kim Flores.

The HFF debt placement team that represented the new owner consisted of senior director Nat Scarmazzi.

“We are very excited to add this top-quality property to our portfolio,” said Scott G. Onufrey, president and managing partner of ALTO Real Estate Funds.  

“This investment marks the first deal ALTO is doing without a partner and it aligns perfectly with our strategy to invest in well-located, core-plus assets at attractive prices.  We are focused on acquiring assets in growing markets with strong demographics.”

Eric Williams

“The seller did an outstanding job creating value through the stabilization of Northpoint Shopping Center via the additions of ALDI, Five Below and Keke’s Café,” Finkle added. 

“The property’s strong performing tenancy and ideal location make for an outstanding long-term investment for ALTO Real Estate Funds.”

ALTO Real Estate Funds is a series of closed end investment funds specializing in value-add commercial real estate across the U.S. 

Established in 2010, ALTO is managed from New York City with regional offices in Dallas and Tel Aviv.  ALTO’s investments provide a stabilizing component to portfolios, combining low risk profiles with a value-add approach, to target an attractive annual yield and stable cash flow. 

Nat Scarmazzi

 The management team works closely with a network of experienced industry contacts to identify solid investment opportunities.  ALTO consistently demonstrates a strong and solid track record and consequently maintains a loyal investor base. 

 To date, ALTO has invested in 61 properties, with a value of $1.1 billion and representing approximately 12 million square feet. 

 For further information, please visit www.alto-investments.com, or follow and connect with us on LinkedIn, Facebook and Twitter.

Scott G. Onufrey

CONTACTS:

DANIEL FINKLE

FL Lic. #SL3043501

HFF Senior Managing Director

(305) 448-1333

dfinkle@hfflp.com

LUIS CASTILLO

FL Lic. #SL3203377

HFF Managing Director

(305) 448-1333

lcastillo@hfflp.com

ERIC WILLIAMS

FL Lic. # SL3179736

HFF Director

(305) 448-1333

ewilliams@hfflp.com

NAT SCARMAZZI

HFF Senior Director

(305) 448-1333

nscarmazzi@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

The Dilweg Companies Inks Full-Floor Lease with Steady at 101 Marietta Street in Atlanta, GA

 101 Marietta Street Tower, Downtown Atlanta, GA

ATLANTA, GA – The Dilweg Companies announced it  has signed a full-floor lease at 101 Marietta Street with Steady, an Atlanta-based tech startup that helps workers expand their income by finding part-time and flexible work opportunities through its revolutionary Steady app.

The six-year deal represents 20,060 square feet of premium office space for the fast-growing company that catapulted into prominence after beating out more than 1,000 competitors at Startup Pitch at Money 20/20, the world’s largest financial services innovation event.

Katherine Lynch

A recent $5 million capital improvement project that delivered brand new amenities, breathtaking skyline views and state-of-the-art workspace were significant factors in Steady’s decision to call 101 Marietta Street home.

The firm was courted by multiple office owners in Midtown and Downtown Atlanta, and moved into the building Jan. 2, 2019.

“This was a comprehensive search, and we felt 101 Marietta Street had a clear advantage when reviewing our requirements for workspace, ease of access and an overall community culture that would engage our workforce and promote long-term growth,” said Adam Roseman, CEO and Co-Founder of Steady.

Adam Roseman

Katherine Lynch, a First Vice President with CBRE, represented the owners. Greg Baxendale, Executive Vice President with JLL represented the tenant.

Founded in 2017, Steady has quickly emerged as an industry leader in helping today’s workforce find part-time and flexible work opportunities through the power of its income-building platform.

Since launching in August 2018, the Steady app has been downloaded nearly 450,000 times, and it recently added a new and improved income tracking feature.

Steady raised $9 million in its Series A financing round, and NBA great Shaquille O’Neal joined the team as an advisor and advocate.

Greg Baxendale

Located just steps away from landmark destinations such as Mercedes-Benz Stadium, State Farm Arena, Centennial Olympic Park, Georgia Aquarium and CNN Center, 101 Marietta Street has capitalized on Downtown Atlanta’s renaissance by signing leasing agreements totaling more than 143,000 square feet in 2018.

In addition to Steady, other notable tenants who call the building home include the Atlanta Hawks, NAGRA, Urban One, CH Robinson and Cogeco PEER 1.

“We are thrilled to welcome Steady to our growing community, which speaks volumes about the appeal of 101 Marietta Street to Atlanta’s emerging tech sector,” said Jerry Banks, Managing Director at The Dilweg Companies.

Jerry Banks

 “Its commitment is indicative of the shift we are seeing toward Downtown Atlanta as companies seek workspace and a location advantage that will help them compete for talent in the new playing field.

"We continue to see strong demand across all industries, and look forward to forging more 

CBRE is overseeing leasing at 101 Marietta Street.


To learn more about floor plans and available office space, click here.
Photos of the property can be found here.

For more information, please call (919) 402-9100 or go to www.dilweg.com.

Contact:

Nick Banaszak

The Wilbert Group

256-457-5384 (C)

nbanaszak@thewilbertgroup.com

Tyler Woodard joins JLL's Phoenix, AZ office as partner with the Multifamily West Team

Tyler Woodard

PHOENIX, AZ – The Phoenix office of JLL has hired Tyler Woodard as Vice President within the Multifamily Finance West Team, a group of JLL experts servicing clients in the West and across the nation.

In his new role, Woodard is responsible for originating and structuring U.S. debt and equity opportunities for multifamily properties. This includes leveraging JLL’s direct Fannie Mae, Freddie Mac, HUD and Bridge lending capabilities, as well as life company, bank, CMBS and private equity relationships.

Woodard joins JLL from Walker & Dunlop, bringing with him a track record of more than $3 billion in loan executions, with a focus on agency multifamily lending.

 He becomes part of JLL’s Multifamily Finance West Team, which executes multifamily debt and equity transactions for institutional and middle market clients. Woodard will be based out of the JLL Phoenix office along with Managing Director Brandon Harrington and team.

 

Brandon Harrington

Companywide, JLL’s multifamily division employs more than 200 professionals with access to thousands of domestic and foreign investors.

 In 2017, Freddie Mac ranked JLL a Top 10 multifamily lender by volume and the No. 2 Targeted Affordable Housing Seller and Fannie Mae ranked JLL the No. 3 DUS® Producer for Multifamily Affordable Housing and No. 3 DUS^® Producer for Seniors Housing. 

JLL is also one of the nation’s largest affordable and conventional multifamily and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.

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

Contact: 

Stacey Hershauer

Phone: +1 480 600 1095

Email: stacey@focusaz.com

jll.com