Continental Partners Secures $15.8 Million Financing for Three California Properties

Zalmi Klyne

LOS ANGELES, CA – Continental Partners, a commercial real estate investment banking firm, recently secured a total of $15.8 million in financing across two transactions regarding three multifamily properties in South Los Angeles, California and one industrial property in Moorpark, California.

 The financing was arranged by Zalmi Klyne, Executive Vice President at Continental Partners.

The deals involved properties for which Continental Partners previously arranged acquisition bridge loans on behalf of the same two borrowers, both private investors, notes Klyne.

“Commercial real estate transaction activity has remained healthy in Q1 and many investors are seeking to both lock-in permanent financing with still-historically-low interest rates, as well as take out cash to put towards other opportunities to invest in the bull market, particularly in the industrial and multifamily sectors,” explains Klyne.

“That said, investors and lenders alike are keenly aware that a slight downturn is likely on the horizon, so it is becoming increasingly critical that borrower business plans are effectively communicated in order to secure competitive financing.”

CONTACTS:

Micaela Fehrenbach / Elisabeth Manville

Brower Group

(949) 438-6262

mfehrenbach@brower-group.com

Daum Commercial Brokers $11.52 Million Sale of 64,000-SF Industrial Warehouse in Industry, CA

Charles A. Johnson II

City of Industry, CA – DAUM Commercial Real Estate Services has directed the sale of a 64,000 square-foot industrial warehouse in the Los Angeles County submarket of City of Industry, California, on behalf of the seller, South El Monte, California-based Art Weiss Industrial Properties. 

Max Sales Group, a wholesale manufacturer of products including consumer electronics and home, auto, kitchen, and pet accessories, purchased the property for $11.525 million, according to DAUM Executive Vice President Charles A. Johnson II.

 “Art Weiss Industrial built this property in 1979 and has since held it in their portfolio until they made the internal decision to sell and capitalize on the market demand,” explains Johnson.

 “As one of the few available buildings of its size in the Lower San Gabriel Valley, which postedsub-2-percent direct vacancy rates at the close of 2018, we were able to secure one of the best prices among comparable properties in the submarket for the seller.”

According to Johnson, offering the asset for sale with approximately a year left on the in-place leases opened up a wider pool of potential buyers, increasing the competition in order to negotiate a strong price despite the building’s older vintage.

“Timing was everything in this deal. We strategically advised our Client to offer the property for sale once all competitors were off the market and our leases were in their final months.

"This allowed us to cater to buyers looking to take advantage of SBA financing while being the only game in town,” says Johnson.

“Ultimately, we identified a buyer who was looking for a well-positioned warehouse to meet its growing needs.”

Warehouse features include 24 feet of interior clearance, nine loading docks, two ground-level doors, 4,000 square feet of office space, and the option for a two-tenant layout.

The property is located within close proximity to California State Route 60, Interstate 605, and Interstate 10 at 15240-15250 Nelson Avenue in City of Industry, California.

CONTACTS:

Micaela Fehrenbach / Elisabeth Manville

Brower Group

(949) 438-6262

mfehrenbach@brower-group.com

Trez Forman Capital Closes $17.71 Million Transaction for Portfolio of More Than 10 Developments

Trez Forman

PALM BEACH, FL -- Trez Forman Capital has completed a $17.71 million transaction that provides third and fourth mortgage financing to a portfolio of more than 10 residential developments in Florida, Louisiana and North Carolina.

All but one of the projects are completely pre-sold to major homebuilder DR Horton.

The transaction was structured as a multi-tranche blanket mortgage. Trez Forman had first mortgages on each of the existing projects before the latest deal.

Waterside, Surf City, NC

In all, the financing covers 1,615 acres, land for 4,237 single-family lots, 400 apartments and two commercial properties.

Trez Forman President and CEO Brett D. Forman arranged the loan.

The new financing is to be used to buy out a partner, supply working capital for the borrower and provide equity for future projects.

Development sites in the portfolio include:

·         Waterside, a master-planned community in Surf City near Wilmington, N.C.

·         Collins Ridge, a large-scale community with plans for 880 residential units in Hillsborough, N.C.

·         Evergreen, a Bradenton, Fla. site entitled for the development of 417 single-family homes

·         Solera, a 279-acre community approved for 675 single-family homes also in Bradenton, FL.

Collins Ridge, NC

“This transaction underscores our nimble and creative approach,” Forman said. “Trez Forman is committed to relationship lending, so working with our borrower is important to us.

"We are bullish about the developments secured by this transaction, as evidenced by our prior role as first mortgage lender for each project.”

Trez Forman provides commercial bridge loans for development and construction and senior stretch financing, starting at about $5 million. It also offers private and institutional investors equity investment opportunities in a variety of funds and assets.

                                                                      

About Trez Forman Capital

Founded in 2016, Trez Forman Capital is a Florida-based commercial bridge lender for development and construction, senior stretch first mortgages and special situations nationwide.

Evergreen Development, Bradenton, FL

It provides developers and property owners with quick approvals on flexible short to mid-term financing from $5M to $75M. The company also offers private and institutional investors equity investment opportunities in a variety of funds and assets.

Trez Forman is a joint venture between Palm Beach-based Forman Capital and Trez Capital Group, one of Canada’s largest private commercial mortgage lenders with approximately $3 billion in committed capital. 

Trez Capital has originated approximately $10 billion in loans since its inception.

CONTACT:

Eric Kalis

Vice President, BoardroomPR

ekalis@boardroompr.com

O 954-370-8999

C 305-794-5123

www.trezforman.com.

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

HFF announces sale of fully leased gym-anchored retail center in suburban San Antonio, TX

Bandera Trails Retail Center, Helotes, TX

Aaron Johnson

DALLAS, TX –– HFF announces that it has closed the sale of Bandera Trails, a 60,748-square-foot, fully leased retail center anchored by Gold’s Gym in the northwestern San Antonio community of Helotes, Texas.

 HFF marketed the property for the seller, San Antonio BT Acquisition, LLC.  Nooner Holdings purchased the asset. 

 Bandera Trails is 100% leased to three internet-resistant tenants, Gold’s Gym, Bandera Salon and Physician Prime Care Management. 

 Situated on 6.11 acres at 11820 Bandera Road, the property is located at the intersection of Bandera Road and East Charles William Anderson Loop, one of suburban San Antonio’s most trafficked intersections with more than 144,000 vehicles per day. 

John Taylor

 The center is in Helotes, one of San Antonio’s most affluent suburbs.  Within a three-mile radius of Bandera Trails are more than 33,707 households with an average annual household income of $102,936, and more than 80,342 residents are within a five-mile radius. 

Additionally, the center is proximate to four military bases.

 HFF’s investment advisory team representing the seller included director Aaron Johnson and managing director John Taylor.  

Eric Lehman of San Antonio-based Lehman Real Estate represented the buyer.

 Holliday GP Corp. ("HFF") is a Texas licensed real estate broker.

Eric Lehman

About Nooner Holdings

Nooner Holdings is operated by Sean Nooner, who sold a chain of local convenience stores, and owns several other retail centers in and around San Antonio and one of San Antonio's largest solar panel portfolios.

About HFF

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.

  HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).  For more information, please visithfflp.com or follow HFF on Twitter @HFF.

Sean Nooner

CONTACTS:

AARON JOHNSON

TX Lic. #560492

HFF Director

(214) 265-0880

ajohnson@hfflp.com

JOHN TAYLOR

TX Lic. #466052

HFF Managing Director

(210) 660-2104

jtaylor@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

Hospitality Ventures Management Group (HVMG) Sells DoubleTree Suites by Hilton Nashville Airport

The 138-suite DoubleTree Suites by Hilton Nashville Airport
Nashville, TN

  

NASHVILLE, TN and ATLANTA, GA -- Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, has announced it has divested ownership of the 138-suite DoubleTree Suites by Hilton Nashville Airport to a joint venture comprised of Wexford Lodging Advisors, a leading hotel asset management and investment firm, and Trinity Private Equity Group, one of the nation’s top alternative asset management firms.

Robert S. Cole

  HVMG will retain management of the hotel and oversee a scheduled $2.5 million renovation.

            “Having owned the property since 2003, HVMG knows both the property and the Nashville market intimately and will use this knowledge to continue steering the DoubleTree Suites by Hilton Nashville Airport as a market share leader,” said Robert Cole, president & CEO, HVMG. 

“The property has more than met our investment objectives, and we are excited to sell the property to a strategic partner, as well as retain management.  The sale allows us to redeploy capital into new projects. 

"Following the completion of the  renovation, the hotel will further cement its position as the leading choice for upper upscale accommodations in Nashville.”

Grand Ole Opry, Nashville, TN

                Situated at 2424 Atrium Way in Nashville just two miles from Nashville International Airport, the DoubleTree Suites by Hilton Nashville Airport is near such local attractions as the Grand Ole Opry, Ryman Auditorium, and the Country Music Hall of Fame. 

Hotel amenities include 24/7 complimentary shuttle service to and from the airport, business center, fitness room, swimming pool and 2,600 square feet of meeting space. 

           

Guest rooms provide luxurious bedding, a spacious work area, two 32-inch flat-screen TVs and complimentary Wi-Fi.  Guests are invited to dine at Harmony Kitchen and Bar, serving all-American breakfast, lunch and dinner options in a relaxed, Nashville setting. 

Country Music Hall of Fame, Nashville, TN

 Guests also may opt for in-room dining or stop by the 24/7 Pavilion Pantry Market for sandwiches and snacks.  Additionally, all guests receive a complimentary, chocolate chip cookie upon check-in.

           

The renovation will cover public spaces and guestroom improvements.  The hotel’s meeting space will be expanded and upgraded.  Also, the pool and courtyard area will be improved, and guest rooms will be upgraded, as well.

About Hospitality Ventures Management Group

Hospitality Ventures Management Group is a privately owned, fully integrated hotel investment and management group that specializes in turning around and repositioning underperforming hotels, as well as maximizing the performance of stabilized hotels. 

Ryman Auditorium, Nashville, TN

 It currently operates 44 hotels and Convention Center in 17 states totaling 7,496 guest rooms. HVMG operates independent and boutique hotels and resorts, as well as full-service, select-service and extended-stay hotels under the Hard Rock, Hilton, Hyatt, Marriott, and IHG brands. 

Contact:

Chris Daly

Daly Gray, Inc.

703-435-6293

chris@dalygray.com

www.hvmg.com