Robb Capital, CRE Loan and Better Commercial Real Estate Mortgage Arrange $42.84 Million Financing for Le Meridian Dallas by the Galleria Hotel in Dallas, TX

Le Meridien Dallas by the Galleria Hotel, Dallas, TX

Palm Beach, FL - Robb Capital, LLC, CRE Loan and Better Commercial Real Estate Mortgage, Inc. are pleased to announce they have arranged financing in the amount of $42,840,000 for the Le Méridien Dallas by the Galleria. 

Le Méridien is a luxurious, 258 all-suite hotel, located in the city’s premiere North Texas Shopping district, and just steps from the world renowned Galleria Dallas Mall, art galleries, museums, thriving restaurant districts, shopping and entertainment.

“We couldn’t be happier with this deal,” says Brian H. Robb, MBA, MSc, President and Founder of Robb Capital, LLC and CRE Loan (a DBA under Robb Capital that focuses solely on their non-recourse platform, with a strong emphasis on commercial mortgage backed securities). 

Brian H. Robb

“We are very proud of our team for finding the ideal source partner, which enabled our borrower to secure customized, long-term, non-recourse fixed rate financing with an aggressively priced spread,” stated Eric H. Better, Founder of Better Commercial Real Estate Mortgage and partner in Robb Capital along with CRE Loan.

According to Mr. Better, two strategic parcels were carved out of the collateral, with the borrower planning to build a convention center and parking structure on these pads.

With such diverse plans for the project, this will significantly increase the net operating income, net cash flow, and overall value of the hotel.

“After the market recession, we saw our clients filing corporate and personal bankruptcy to protect their CRE properties,” states Mr. Robb.  “Mr. Better, the president of Better Commercial Real Estate Mortgage, and I saw that there was a need for a strong non-recourse financing platform for CRE Loans. 

Eric H. Better

"Thus, CRE Loan was formed.  The Le Méridien financing is the perfect example of how a non-recourse fixed rate request can be customized, without the need for a bridge loan.”

Financing terms for the Le Méridien include a 10 year, non-recourse term with a 70% LTV and a 30 year amortization. 

For more information about Robb Capital, LLC, or about the deal, please visit www.Robb.Capital and www.CRE.Loan

For more information on this press release, please visit:http://www.getnews.info/860780/brian-h-robb-mba-msc-robb-capital-llc-eric-h-better-better-commercial-real-estate-mortgage-inc-arrange-financing-to-the-amount-of-42840000-for-the-le-meridien-hotel-in-dallas.html

 Contact:

 Robb Capital, LLC
Scott Talarico
Email: info@robb.capital
Phone: 561-360-5964
Country: United States
Website: www.Robb.Capital

HFF secures $165 million financing for condo project in downtown Brooklyn, NY

Rendering of Planned 1 Boerum Place
 Downtown Brooklyn, NY

NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announces it has secured $165 million in financing for the development of One Boerum Place, a 21-story, luxury mixed-use condominium development in Downtown Brooklyn.

Christopher Peck

HFF worked on behalf of One Boerum Development Partners LLC, a joint venture between Allegra Holdings, Avery Hall Investments and Aria Development Group, to arrange the floating-rate construction loan with a foreign pension fund.

One Boerum Place will be situated in Downtown Brooklyn’s Borough Hall district at the convergence of some of the area’s most coveted neighborhoods, including Boerum Hill, Cobble Hill, Brooklyn Heights and Fort Greene. 

Due for completion in the first quarter of 2021, the 122-unit project will be steps from the A, C, F, 2, 3, 4, 5 and R subway lines, providing excellent connectivity around New York City. 

The building’s design includes spacious layouts in a variety of one- through four-bedroom floorplans, which will provide sweeping views of the Manhattan and Brooklyn skylines, the East River and New York Harbor. 

Graham Stephens

Units will feature high-end finishes, including gourmet kitchens with Miele appliances, custom cabinetry and stone countertops.  Bathrooms will have freestanding bathtubs, stone floors and walls and chrome finishes. 

One Boerum Place is also planned to include a full suite of amenities, such as a pool with sauna and changing room area, two-story fitness center, entertainment lounge, children’s playroom, landscaped rooftop with outdoor kitchen, fully attended lobby with 24/7 doorman and concierge service, residential storage and a fully automated parking garage. 

 In addition, the project will feature nearly 22,000 square feet of ground-floor retail space.

The HFF debt placement team included managing directors Christopher Peck and Graham Stephens, senior director Peter Rotchford and associate Alex Staikos.

Peter Rotchford

“HFF delivered unparalleled service for our partnership and have a firm command of the market options available to top-quality sponsorship,” said Avi Fisher, Avery Hall’s founding principal.  “We look forward to continuing to work together in the future.”

“It’s always exciting to introduce new capital to a market and watch our client build something special,” Peck said.

Allegra Holdings is a Spanish real estate investment company headquartered in Alcobendas, Spain, that specializes in real estate investments across all property types around the world.  

With major investments in the United States, Spain, the United Kingdom, Brazil, Australia, Canada, Colombia and Portugal, the company has a wide variety of assets and investments.  Their current portfolio consists of over $1 billion in assets worldwide.

Alex Staikos

Avery Hall Investments specializes in the acquisition, design and development of unique real estate assets which are primed for growth and value creation.

 Avery Hall’s experienced and interdisciplinary team is ready to tackle tough development challenges to generate superior, risk-adjusted returns.

 The firm shepherds every project from architectural and zoning feasibility studies, through day-to-day construction, to completion and disposition.

Avery Hall Investments is committed to creating projects which enhance the quality of life in the communities in which it invests, with a focus on long-term value growth.

Avi Fisher

Aria is a real estate investment and development firm with offices in New York City, Washington, D.C. and Miami.

Founded in 2009 by partners Joshua Benaim, David Arditi and Timothy Gordon, the firm marries a classic value investment strategy with the traditional real estate principles of location, scarcity and beauty.

Aria invests capital on behalf of its principals and partners in both real estate equity and real estate related debt.

Joshua Benaim

Aria specializes in complex situations, including ground-up development and adaptive reuse, mezzanine financing for assemblage or construction, preferred equity and joint venture equity.

Aria’s development projects are focused on creating distinguished urban infill multifamily and mixed-use properties in great neighborhoods.

  Notable developments include 321 Ocean in Miami Beach, The Bond and The Alden in Washington, D.C. and 465 Pacific in Boerum Hill, Brooklyn, New York.

David Arditi

Since inception, Aria has invested in excess of $300 million of equity through joint ventures and its discretionary fund, Aria Investment Partners LP.  http://ariadevelopmentgroup.com/

CONTACTS:

CHRISTOPHER PECK

NY Lic. #40PE1175637

HFF Managing Director

(212) 245-2425

cpeck@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3403

ohennessey@hfflp.com

  http://www.averyhallinvestments.com/

Ackerman Medical Represents Southwest Atlanta Nephrology in Sale of 4-Building, 80,116-SF Medical Office Building Portfolio in Metro Atlanta, GA

2485 Park Central Boulevard, Decatur, GA

Brett Buchwald

ATLANTA, GA – Ackerman Medical, a division of Ackerman & Co., has brokered the sale of a 4-building, 80,116-square-foot medical office portfolio in metro Atlanta on behalf of Southwest Atlanta Nephrology P.C. (SWAN).

The properties were purchased by Elliott Bay Capital Trust LLC (3 buildings) and a private investment group (1 building) for $18,865,000. 

Brett Buchwald, vice president of healthcare investment sales for Ackerman Medical, represented SWAN in the transaction.

 “It’s very gratifying to complete this complex transaction on behalf of Southwest Atlanta Nephrology,” he said, adding that the nearly two-year process involved renegotiating a total of five leases on behalf of SWAN and the other principal tenant at the properties, DaVita Dialysis.

Joe Baldwin

Added Brett, “The strong tenancy and lease terms at the properties ensures a steady, appreciating cash flow for buyers.”

“We’re very pleased to complete the acquisitions of these Atlanta medical properties with Brett Buchwald and the SWAN group. They were great to work with,” said Joe Baldwin, executive vice president, Elliott Bay Capital Trust.

Three of the properties were purchased by Elliott Bay Capital Trust: 3620 Martin Luther King Drive, Atlanta; 2669 Church Street, Atlanta; and 1987 Candler Road, Decatur, Ga.

The fourth property – 2485 Park Central Blvd., Decatur, Ga. – was purchased by a California-based private investment group represented by David Tran of Transmercial.

David Tran

Operating in Atlanta since 1981, Southwest Atlanta Nephrology delivers comprehensive healthcare services with an emphasis on hypertension, kidney disease and kidney transplantation.

CONTACT:

Steve Webb

Marketing Research Coordinator

P: 678.993.2935     F: 770.913.3966

www.ackermanco.com