HFF closes sale of trophy Wegmans-anchored shopping center in Boston’s urban core

Meadown Glen Shopping Center, Boston, MA

Coleman
Benedict

BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Meadow Glen, an irreplaceable, trophy-quality shopping center anchored by a high-volume Wegmans grocery store and set just minutes from Downtown Boston. 

 HFF marketed the property on behalf of a private partnership and procured the buyer, global investment manager DWS Group.

 Redeveloped in 2017 by a partnership led by New England Development and designed with today’s consumer in mind, Meadow Glen features a high degree of curb appeal and comprises 291,860 square feet of retail space that is 100% leased. 

Riaz Cassum

 The center features a dynamic tenant roster that is marked by credit and term. 

 In addition to Wegmans, which occupies its space under the terms of a long-term lease, other retailers include Kohl’s, DICK’s Sporting Goods, Marshalls and Petco, providing investors with durable cash flow over the holding period. 

 Meadow Glen stands out as one of only six shopping centers in the Boston market to be anchored by Wegmans, America’s favorite grocery store.

The HFF investment advisory team included senior managing directors

 Coleman Benedict, Riaz Cassum and Jim Koury and senior director Ben Sayles.

About HFF

Jim Koury

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.

Ben Sayles

CONTACTS:

COLEMAN BENEDICT

Senior Managing Director

(617) 848-1567

cbenedict@hfflp.com

KRISTEN MURPHY

Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

HFF arranges $92 million financing for three-property, multi-state student housing portfolio

Aspen Ames, a 422-bed, garden-style property at 3306 Lincoln Way, Ames, Iowa, which serves Iowa State University 

AUSTIN, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $92 million in financing for a three-property, 1,653-bed student housing portfolio in Iowa, Texas and South Carolina.

HFF worked on behalf of Aspen Heights and Safanad to secure the three-year, floating-rate loan through a large institutional lender.  Loan proceeds were used to refinance existing construction financing.

Aspen Houston consists of 717 beds within two four-story, wrap-style buildings at 4971 Martin Luther King Boulevard in Houston, TX, which serves the University of Houston. 

Built between 2017 and 2018, the three geographically diverse communities are well-constructed with bed/bath parity, best-in-class student amenity offerings and finishes tailored to their respective markets.

Aspen Conway is a 514-bed property totaling 116 cottage-style buildings at 2251 US-501 East in Conway, SC, which serves Coastal Carolina University

Aspen Ames is a 422-bed, garden-style property located at 3306 Lincoln Way in Ames, Iowa, which serves Iowa State University. 

Aspen Houston consists of 717 beds within two four-story, wrap-style buildings located at 4971 Martin Luther King Boulevard in Houston, Texas, which serves the University of Houston. 

 Aspen Conway is a 514-bed property totaling 116 cottage-style buildings located at 2251 US-501 East in Conway, South Carolina, which serves Coastal Carolina University.

Doug Opalka

The HFF debt placement team was led by senior managing director Doug Opalka, senior director Casey Wenzel and director Michael Johnson.

“Aspen Heights and Safanad are one of the premier student housing owner/developers in the United States, and this portfolio presents a significant opportunity for value creation for the partnership,” Opalka said.  “This was a phenomenal result for all involved.”

About Aspen Heights

Founded in 2006, Austin-based Aspen Heights has developed 36 conventional multifamily, student housing and assisted living properties, totaling more than $1.5 billion in value. 

The company builds, leases and manages its own projects and also provides third-party leasing and management services.  It is a mainstay in the top 10 lists of student housing development companies. 

Casey Wenzel

 The firm’s best-known project is arguably The Independent, a 685-foot-tall, 363-unit condo tower that’s both the tallest residential tower west of the Mississippi River as well as the tallest structure in Austin. 

For more information, visit: www.ahpliving.com.

About Safanad

Safanad is a global principal investment firm founded in 2009 with its main presence in New York and offices in London and Dubai. 

The firm creates sustainable value by pursuing opportunities underpinned by long-term social and economic insights and clear public sector policies and plans. 

Michael Johnson

As a principal investor, Safanad utilizes its capital, expertise and exceptional management partners to preserve and grow wealth for the firm and its global private and institutional clients.  

To date, Safanad has successfully executed $10 billion of total acquisition value in the U.S. and Europe across sectors, including healthcare, education, student housing, suburban offices, automotive supply chain and data centers.  

For more information, visit www.safanad.com.

CONTACTS:

DOUG OPALKA

HFF Senior Managing Director

(512) 532-1900

dopalka@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3403

ohennessey@hfflp.com

For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

Arbor Funds New Loans in Texas and Connecticut

Matt Norman

                                  

Arbor Funds $18.3 Million Fannie Mae ARM 7-6™ Loan in Houston, TX

  

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae Loan in Houston, TX.

This multifamily property received $18.3M in refinance funding under the Fannie Mae ARM 7-6™program.

Matt Norman of Arbor’s Bloomington, Indiana, office originated the loan.

 “The property provided us with an excellent opportunity to help the owner refinance from an acquisition bank loan to a more permanent Fannie floating rate loan, said Norman. 

 "The flexibility of the ARM payoff gives the owner the option to sell or refinance again in the near future,” “Through this deal, we were able to free trapped equity for future purchases and provide a lower rate, all in a timely manner.”

Built in 1982, this gated community offers a fitness center, spa, pool and concierge. The apartments feature walk-in closets, crown molding, fireplaces and storage units available for rent.

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Arbor Funds $7.5 Million Fannie Mae DUS® Seniors Housing Loan in Hamden, CT

  

Ari Short

UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® Seniors Housing Loan in Hamden, CT.

 Meadow Mills Assisted Living & Memory Care, a 60-unit assisted living facility, received $7.5M in refinance funding through the program. The loan includes a 10 year, fixed-rate term on a 30-year amortization schedule.

 Ari Short of Arbor’s New York City office originated the loan.

 “We were pleased to offer our client a $7.5M cash-out refinance of this assisted living property in Hamden, CT,” said Short. 

“The borrowers effectively executed their business plan to increase revenue since acquisition, and we were able to structure a loan featuring a return of equity to investors, while securing long term debt at an attractive rate.”

Built on two quiet acres, Meadow Mills Assisted Living & Memory Care provides its residents with all-inclusive services and amenities including a well-trained nursing staff, spacious dining halls serving nutritious meals, and life enrichment programs featuring music therapy, memory games, socialization events and more.

The facility also provides housekeeping and laundry services. The community provides a high caregiver-to-resident ratio and is fully equipped to accommodate guests with Alzheimer’s disease and dementia.

Contact:

Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

Ware Malcomb Announces Construction Completed on LBA Promenade Warehouse in Corona, CA

LBA Promenade Warehouse building,  515 South Promenade, Corona, CA

Irvine, CA – Ware Malcomb, an award-winning international design firm, announced construction is complete on the new LBA Promenade Warehouse building located at 515 South Promenade in Corona, Calif. Ware Malcomb provided architecture and civil engineering services for the project.

Tom Myers

The new, 32-foot clear tilt-up industrial building is comprised of 163,056 square feet, including 5,000 square feet of office space and a 2,500 square foot wood mezzanine.

“The LBA Promenade Warehouse is a state-of-the-art industrial

warehouse that is ready for 21^st century commerce,” said Tom Myers, Regional Vice President of Ware Malcomb’s Irvine and Inland Empire offices.

“Every aspect of this building’s civil engineering and architectural design have been well thought-out to provide maximum functionality and performance for many decades to come.”

The developer of the project is LBA Realty, and the General Contractor is Millie & Severson.

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, please visit waremalcomb.com/news and view Ware Malcomb’s Design video at youtube.com/waremalcomb.

Hold-Thyssen Maintains High Occupancy at Edgewater Commerce Center in College Park Area of Orlando, FL

Edgewater Commerce Center, 6250 Edgewater Drive.
 College Park Area, Orlando, FL

Alex Rowlinson

ORLANDO, FL --- Hold-Thyssen, Inc., a full-service commercial property firm based in Winter Park, recently negotiated three multi-year leases for a total of 5,675 rentable square feet of flex space at Edgewater Commerce Center in the College Park area of Orlando at 6250 Edgewater Drive. 

The Hold-Thyssen leasing team of Alex Rowlinson and Troy Stevens represented the south Florida based landlord/owner of the commerce center in the lease agreements with:

Hydropnics Supply, a group specializing in supplies for the hydroponic growing process leased 1,275 square feet for three years;

Stonework & Design, a granite and tile / interior design group leased 2,000 square feet for three years; and 

Troy Stevens

Refinishing Solutions, Inc., a paint and body shop supplier, leased 2,400 square feet for three years;

Edgewater Commerce Center ’s occupancy is up to 96 percent.

Hold-Thyssen, Inc. provides commercial property brokerage, leasing and management services to institutional and private investor clients nationwide.  

The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States .

CONTACTS:

           

Anthony Fisher, Vice President, Hold-Thyssen Inc.,

407-691-0505, afisher@HoldThyssen.com

Robert P. Hold, Principal, Hold-Thyssen, Inc.,

407-691-0505, bhold@HoldThyssen.com

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com.

Regal | Christie’s International Real Estate sells Sprawling Winter Garden, FL Lakefront Estate for Record-Breaking $3.47 Million

Casa De Leon Estate, 17819 Westbay Court, Winter Garden, FL

Winter Garden, FL – The recent sale of the “Casa De Leon Estate,” an immense single-family home on a private 1.6-acre peninsula, has set an all-time record for luxury home sales in Winter Garden. 

Joyce Marsh

According to Chris Christensen, broker/owner of Regal | Christie’s International Real Estate, the $3,475,000 transaction is “The highest priced residential sale in Winter Garden to date.”

Casa de Leon lake view

The Casa De Leon estate, at 17819 Westbay Court , is “The epitome of Florida luxury living,” says Christensen, whose company represented the seller in the transaction.

Situated on a peninsula that fronts on more than 700 feet of Johns Lake , the two-story, 11,650 square foot, custom-built masterpiece offers panoramic views from every room.

With seven master suites featuring luxurious baths, the estate also boasts a 70-foot long infinity edge pool, a boat house with jet ski and boat lifts, a five-car garage, a home theatre, a wine cellar, an elevator, an exercise room with sauna and a game room, according to Christensen.

 

Chris Christensen

“We are very pleased that Regal | Christie’s was selected to represent such an amazing property and location,” said Joyce Marsh, regional manager for all offices in Central Florida . 

With four, and soon five Central Florida offices, Regal | Christie’s International Real Estate is the only Christie’s International affiliate in the region. The company specializes in the sale of luxury, residential real estate.

CONTACTS:

Joyce Marsh, Regional Manager/Broker, Regal | Christie’s International Real Estate 407-749-0700

 JoyceMarsh@RegalRealtyOrlando.com 

Chris Christensen, Broker/Owner, Regal | Christie’s International Real Estate  407-312-8003 ChrisChristensen@RegalRealtyOrlando.com

Beth Payan, Larry Vershel Communications Inc. 407-644-4142 

or 407-461-3781 beth@larryvershel.com

Industry Veteran Danny Moran Re-Elected Vice Chairman of National Environmental Banking Association

Danny Moran

BATON ROUGE, LA -- Danny Moran, Managing Director of Baton Rouge, La. based EcoSystem Renewal LLC., was re-elected Vice Chairman of the National Environmental Banking Association (NEBA) during the group’s annual meeting in Minneapolis.

The meeting was held during the 22^ndNational Mitigation and Ecosystem Banking Conference, a premiere 5-day industry event that wrapped up recently.

Moran said he was honored to be selected for another two-year term and pledged to continue his efforts to expand awareness of the role that mitigation banking plays in restoring, preserving and protecting the nation’s vulnerable land and water resources.

NEBA, a Gold Sponsor of the Conference, supports improving implementation of the 2008 Mitigation Rule, advocates permitting efficiency within the Clean Water Act, and providing its members with the best data in the environmental banking industry intended to empower its members.

The annual conference brought together key private, public, and regulatory stakeholders in every aspect of the environmental banking industry.

“The 2019 Conference was attended by the most diverse industry representatives I’ve seen in the 14 years that I have been coming to the Conference," Moran said.  "I think it’s a testament to the impact this industry has on the economy and the environment.”

 CONTACTS:

Danny Moran, Managing Director, EcoSystem Renewal, LLC, (toll free) 888-294-8101 ext 802, dmoran@ecosystemrenewal.com;  

Will Beaty, Director of Sales and Marketing, EcoSystem Renewal, LLC, 
888-294-8101 ext 802,wbeaty@ecosystemrenewal.com

Beth Payan, Larry Vershel Communications  407-644-4142

 or 407-461-3781 Beth@LarryVershel.com

 ecosystemrenewal.com

Marcus & Millichap Brokers $3.2 Million Sale of 29 Acres in Lawrenceville, GA

Chasidy Kenerly

LAWRENCEVILLE, GA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Mall of Georgia Property, a 29.15 +/- acres of land located in Lawrenceville, GA, according to Justin W. West, regional manager of the firm’s Orlando office. The asset sold for $3,200,000.

Chasidy Kenerly an investment specialist in Marcus & Millichap’s Orlando office, had the exclusive listing to market the property on behalf of the seller, a private investor and secured the buyer, a private investor.

Justin W. West

Mall of Georgia Property is located at 1274 Old Peachtree Rd NE in Lawrenceville, GA. 

 CONTACT:

Ocea Huggins
Operations Manager – Orlando and Jacksonville
Marcus & Millichap 300 South Orange Avenue Suite 700 Orlando, FL 32801 www.MarcusMillichap.com. (407) 557-3840 direct (407) 557-3800 main (407) 927-0313 mobile (407) 557-3810 ocea.huggins@marcusmillichap.com

HFF closes sale of Daytona Beach, FL--area retail center

Palm Coast Landing, Palm Coast, FL

Brad Peterson

ORLANDO, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Palm Coast Landing, a 171,352-square-foot, high-performing retail center within an Opportunity Zone in the Daytona Beach-area community of Palm Coast, Florida.

HFF team marketed the property on behalf of the seller, a publicly traded REIT.  Acadia Realty Trust purchased the center.

Completed in 2008, Palm Coast Landing is the largest, most central and most dominant shopping center in Flagler County, which is about 24 miles north of Daytona Beach. 

Daniel Finkle

The center is 96.9% leased to a variety of tenants, including anchors Ross Dress for Less, T.J.Maxx, Michaels, PetSmart, Ulta Beauty and Dollar Tree, and is shadow anchored by Super Target. 

Situated on 21.3 acres at 5200 East Highway 100, Palm Coast Landing is at the epicenter of Town Center at Palm Coast, a 1,557-acre Development of Regional Impact (DRI) near the geographic center of Palm Coast and a recently designated Opportunity Zone. 

The HFF investment advisory team representing the seller included senior managing director Brad Peterson, senior managing director and co-head of HFF’s retail practice Daniel Finkle, senior director Whitaker Leonhardt and associate Ryan Stoffer.

“Palm Coast Landing received strong interest because it is a seasoned and proven market-dominant regional shopping center in a high-growth area along Florida’s east coast,” Peterson said. 

Whitaker Leonhardt

 “While retail investors have become more highly-selective, this shopping center checked all the boxes, so it was no surprise that we received more than 10 offers from very qualified and highly capable groups.”

About Acadia Realty Trust

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual – Core and Fund – operating platforms and its disciplined, location-driven investment strategy.

Acadia Realty Trust is accomplishing this goal by building a best-in-class core real estate portfolio with meaningful concentrations of assets in the nation’s most dynamic urban and street-retail corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet. 

CONTACTS:

BRAD PETERSON

FL Lic. #BK3162030

HFF Senior Managing Director

(407) 745-3900

bpeterson@hfflp.com

DANIEL FINKLE

FL Lic. #SL3043501

HFF Senior Managing Director

(305) 448-1333

dfinkle@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

www.acadiarealty.com.