GC Rentals Buys Three California Multi-Family Properties in Glendale, Pasadena and Burbank

Pat Meaney

PALM DESERT, CA -- GC Rentals LLC purchased three multi-family properties in Glendale, Pasadena, and Burbank.

 The properties consisted of 14 units totaling 14,388 square feet for $6,160,000. The properties were 92% leased at the time of sale. 

The three properties were apart of a 1031 exchange.

Jordan Meaney

"Our Investor had sold a larger complex in North Carolina, and was very bullish on the Southern California multi-family housing market," says Canada Pacific Realty Advisors’ Pat Meaney.

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"He decided to invest the proceeds from his 1031 exchange back into Southern California, and specifically the Pasadena, Glendale, Burbank area, as he is a Pasadena native and very familiar with the area." 

Brendan Meaney

The firm's Brendan Meaney states, "Canada Pacific Realty Advisors is a full-service real estate brokerage and advisory firm specializing in 1031 exchanges and Investment real estate." 

“Our extensive experience lends trusted expertise and insight to opportunities, investments, and property portfolio management," adds Jordan Meaney. 

"We’re dedicated to finding the right opportunities and eager to use our expertise to your advantage.”

CONTACT:

 Jordan Meaney

 jmeaney@cprealtyadvisors.com

Canada Pacific Realty Advisors

CP Realty Advisors, Inc.

42215 Washington St. Suite A373

Palm Desert, CA 92211

760-585-9680 (Main)

760-641-6758 (Cell)

CA License #02033601

OFFICES IN PALM DESERT AND LOS ANGELES

January’s Nine Percent Drop in Real Estate Showing Activity Marks Sixth Consecutive Month of Year-Over-Year Declines

Daniil Cherkasskiy CHICAGO, IL  – If January is any indication, home sellers are bracing themselves for a tenuous start to 2019, as the first month of the year saw a nine percent drop across the U.S. in year-over-year residential showing activity, according to data from the ShowingTime Showing Index®. “Showing traffic continues to subside from last year's impressive heights,” said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. “In January, we did not see an influx of home shoppers to reverse year-over-year declines in showings, which suggests that we may see slower traffic this spring compared to last year.”

In a notable contrast to January 2018, when the 12-month average year-over-year increase in showing traffic nationwide was 7.7 percent, January 2019 saw the 12-month average decline to almost one percent. 

The decrease in showing activity has been felt throughout the country but most noticeably in the West Region, which experienced an 18.8 percent year-over-year drop last month. 

The Midwest Region recorded a year-over-year decline of 12.4 percent in January, with the South Region not far behind with a year-over-year drop of 11.5 percent. The Northeast Region saw a more modest drop of 2.4 percent in January.

      

Key Points:

January showing traffic was down nine percent year over year in the U.S.; the West Region saw its 11th consecutive month of declines with an 18.8 percent year-over-year drop in showing activity A decline in showing traffic continued again in January for the Northeast (-2.4 percent), South (-11.5 percent) and Midwest regions (-12.4 percent), the fourth consecutive month where all regions saw a year-over-year drop

CONTACT:

Tom Denk 
tdenk@showingtime.com

research@showingtime.com.

NAI Realvest Signs Six New Tenants into Over 11,900 SF at South Park Business Center in Orlando, FL Within 60 Days

Tom R. Kelley II

ORLANDO, FL – NAI Realvest closed on six new leases totaling 11,908 square feet at Orlando’s South Park Business Center, the successful business park at 8600 Commodity Circle that’s already home to many notable companies.

Tom R. Kelley, II, CCIM, a principal at NAI Realvest negotiated the six latest deals on behalf of Landlord Miami-based South Park, LLC. 

Cryonext, LLC, a healthcare practice providing non-surgical and drug free options for wellness has leased 2,499 square feet.  The tenant, with other operations in Oviedo and Lake Nona , was represented by Melanie Kalaleh of Dynamic Realty & Development.

Dreamweavers Costumes leased 2,094 square feet.  The retailer supplies costumes for adults and children through Amazon, Target and to entertainment area venues.    

Manuel Berrios

Three leases for 1,830 square feet each were signed by Kiteman Productions, LLC, famous for theme park shows, banner and kite rentals; Teilen System Walls, LLC, a Hialeah-based construction market wholesaler producing easy-to-install and removable  products; and Miami-based shipping company Rima Cargo LLC. 

 Tenant Rima Cargo was represented by NAI Realvest associate Manuel Berrios.

Magic Digital Studios, LLC a new tenant specializing in corporate videos, broadcast media and digital films, leased 1,825 square feet and was represented in the transaction by Ridrigo Schiavo of Premier Capital Realty.

CONTACTS:

Tom R. Kelley, II, CCIM, Principal, NAI Realvest,

 407-875-9989 Tkelley@realvest.com

Robin L. Webb, CCIM, Cha, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest 407-875-9989 Rwebb@realvest.com

Beth Payan, Larry Vershel Communications,

407-644-4142 Lvershelco@aol.com.     

 www.NAIRealvest.com

HFF arranges $27.55 million refinancing for College Station, TX apartments

100 Park at Century Square Apartments, College Station, TX

HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announces it has arranged a $27.55 million refinancing for 100 Park at Century Square, a 249-unit luxury apartment community in College Station, Texas.

Colby Mueck

HFF worked on behalf of the borrower, a joint venture between Midway and Harrison Street, to secure the loanfrom an affiliate of Granite Point Mortgage Trust Inc. (NYSE: GPMT).

100 Park at Century Square is located west of University Drive on Century Square Drive across from Texas A&M University within College Station’s 60-acre Century Square mixed-use development that features premier retail and dining, entertainment venues, 60,000 square feet of Class A office space, luxury apartment homes and two full-service hotels, The George and Cavalry Court.

  Completed in 2016, 100 Park offers a mix of studio, one- and two-bedroom units with upscale finishes, including stainless steel appliances, granite countertops, wood floors, washers and dryers, large closets and patios or balconies.

Timothy Joyce

  In addition to the property’s centralized location, 100 Park incorporates community amenities, including a swimming pool, outdoor lounge and green space, grilling area, state-of-the-art fitness center and covered parking.

The HFF debt placement team representing the borrower was led by senior managing director Colby Mueck along with managing directors Timothy Joyce and Stephen Skok and analyst Stuart Hepler.

Midway’s purpose is to create enduring investments and remarkable places that enrich people’s lives. 

 Houston-based Midway is a privately owned, fully integrated real estate investment and development firm that has provided the highest level of quality, service and value to its clients and investors for more than 50 years. 

Stephen Skok

The Midway portfolio of projects completed and/or underway consists of approximately 45 million square feet of properties in 23 states and Northern Mexico ranging from office and industrial facilities, corporate headquarters, mixed-use centers, business and industrial parks, medical facilities, manufacturing facilities, and master-planned resort and residential communities. 

 For more information on Midway, visit www.midwaycompanies.com.

Harrison Street is one of the leading real estate investment management firms exclusively focused on the Education, Healthcare and Storage sectors. 

 The firm has created a series of differentiated investment strategies across multiple risk/return platforms. 

Stuart Hepler

Headquartered in Chicago, the firm employs a 140-person team with approximately $18 billion in assets under management.

  For more information, please visit https://www.harrisonst.com/.

CONTACTS:

COLBY MUECK

HFF Senior Managing Director

(713) 852-3500

cmueck@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3403

ohennessey@hfflp.com