United Negro College Fund Will Host 14th Annual Orlando Mayor’s Blalck History Month Luncheon Feb. 17 at Church Street Station Ballroom

Lucille O'Neal

Orlando, FL -- The Orlando Area Office of UNCF (United Negro College Fund), the nation’s largest minority education organization, will host its 14th annual Orlando Mayor’s Black History Month Luncheon on Feb. 17 at the Church Street Station Ballroom.

Hosted by Orlando Mayor Buddy Dyer and Orange County Mayor Teresa Jacobs, the event will bring together education, business and civic leaders to celebrate the contributions of African Americans to the greater Orlando community, and to raise funds and awareness of UNCF.

Lucille O’Neal will serve as Honorary Chair and Sandra Jeter will serve as Luncheon Chair.

“I am very excited about this year’s luncheon and about raising as much funding as possible,” said O’Neal. “It is our mission to ensure that local disadvantaged students have the opportunity to realize their dreams of a college education. In order to rebuild the village that helps to raise our children, we must all join together and invest in the next generation.”  

Sandra Jeter

The 2016 UNCF Champions of Education Award will be presented to both Robert Billingslea and John Crossman.

Billingslea, former Vice President for Corporate Urban Affairs for Walt Disney, is being honored for his long time service in education. Among his many contributions is his service on UNCF’s Orlando Leadership Council and as a trustee for UNCF-member institution Bethune-Cookman University.

Crossman also has a strong commitment to education in Orlando. He created the Crossman & Company Endowed Real Estate Scholarship at Bethune- Cookman University to increase the amount of minorities in real estate. He and his family have also created an endowed fund in the memory of John’s father, the Rev. Kenneth C. Crossman, which gives annual scholarships to students.

“We invite all members of the Orlando community to join us as we raise money to send deserving young people to college,” said Anita Henri, UNCF Area Development Director. “Everyone who believes that ‘A Mind Is a Terrible Thing to Waste, but a Wonderful Thing to Invest In®,”  should attend the luncheon. Let’s empower our young people so they may secure passports to Better Futures® by way of a college degree.”

Orlando Mayor Teresa Jacobs

For more than 70 years, UNCF has provided financial assistance to students and its 37 member historically black colleges and universities (HBCUs). Without UNCF’s support, many of the students attending these colleges would not have access to higher education or the benefits they provide.

 UNCF’s luncheon helps raise funds to support more than 60,000 students a year at more than 1,100 colleges and universities across America.  The majority of UNCF scholars come from low-income families and are among the first in their families to attend college.

Across Florida, UNCF assists more than 6,000 students who attend UNCF member institutions or who receive UNCF scholarships to attend other area colleges and universities.

For more information on the 14th Annual UNCF Orlando Black History Month Luncheon, or for sponsorship packages, please contact Jazmine Barnes at 407.896.6940, or jazmine.barnes@uncf.org.

 

For a complete copy of the company’s news release, please contact:

Beth Payan Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com

Cynetra McMillian

UNCF Communications

202.854.0007       

Cynetra.mcmillian@uncf.org

Berkadia Closes on sale of 112 Units for $9.8 Million in North Montgomery, AL

Joshua Jacobs

Birmingham, AL – Berkadia recently closed the sale of The Retreat at Dublin Creek, a 112-unit apartment community located in Montgomery.  Hallmark Dublin Creek, LLC, purchased the apartment community for $9,800,000 or $87,500 per unit.

Joshua Jacobs, Associate  and David Oaklely, Managing Director of Berkadia Real Estate Advisors, LLC in Birmingham, negotiated the transaction representing the seller, Retreat at Dublin Wildwood, LLC. 

Built in 2006, The Retreat at Dublin Creek, an Institutional Quality Class “A” asset, is a two-story, garden-style apartment community situated on 14.41 acres with an average unit size of 1,204 square feet. 

Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, is an industry-leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. 

For a complete copy of the company’s news release, please contact:

Beth Payan Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com

Crossman & Co. Negotiates Seven New Leases for more than 27,790 Square Feet at Five Palm Beach County, FL Retail Centers

Kim Fitzgerald

Palm Beach County, FL--- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently negotiated seven new leases for a total of 27,797 square feet at five Palm Beach County retail centers.

Senior Associates Kim and John Fitzgerald, who handle leasing and management for Crossman & Company in southeast Florida, represented the landlords in lease agreements with the following tenants at the following shopping centers:

The Shoppes at Wellington Green on Forest Hill Blvd. west of 441– Bethesdia Health leased 11,148 square feet and Exit Realty 2,835 square feet;

Hampton Square, on Hampton Drive and Kimberly Blvd. E. of 441– Congregation Shaarie synagogue leased 5,635 square feet and Mama’s Pizza leased 1,804 square feet;

 Polo Grounds Shopping Center on S. Military Trail in West Palm – Wing Stop leased 1,488 square feet and Wireless One leased 1,280 square feet

The Shoppes at Jupiter on N. U.S. Highway 1 – Rock Steady Juice Joint leased 1,280 square feet;

Grove Market on Seminole Pratt Whitney Rd in Loxahatchee – Afterburn Fitness leases 2,400 square feet.

For a complete copy of the company’s news release, please contact:

Beth Payan Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com

Arbor Launches ALEX, a Groundbreaking Online Multifamily Agency Lending Platform for Borrowers, Brokers and Correspondent Lenders

Ivan Kaufman

UNIONDALE, NY (Feb. 5, 2016) – Arbor Commercial Mortgage, LLC, one of the nation’s largest direct commercial real estate lenders, today unveiled ALEX (Arbor LoanExpress), the multifamily industry’s first ever, all-agency, online loan origination platform.

 Developed for direct borrowers, brokers and correspondent lenders, ALEX is designed to streamline and organize a historically complex multifamily lending process, helping clients easily and efficiently obtain market-leading Fannie Mae and Freddie Mac financing. 

ALEX will provide the fastest loan evaluation in the industry and incorporates the first ever use of e-signature execution for certain forms used in multifamily agency lending.

“As a true leader in the small balance agency lending business, we are both proud and excited to revolutionize multifamily financing with ALEX,” stated Ivan Kaufman, Arbor’s Chairman and CEO.

“We incorporated our years of success, world-class customer service and small loan experience in building a proprietary technology that allows us to reach new customers and provide our highly valued repeat clients with an organized, transparent and efficient experience.

“In today’s fast-paced world, we understand our clients’ needs for a quick response time, and ALEX leverages technology to provide quick feedback and allows our clients stay on the pulse of the loan process with just the click of a button.”

For a complete copy of the company’s news release, please contact:

Christopher Ostrowski

costrowski@arbor.com

Lincoln Property Co. Arranges Two New Leases at Governors Lakes 100 in Atlanta’s Peachtree Corners Submarket

 

Matt Davis

ATLANTA, GA (Feb. 4, 2016) – Lincoln Property Company (Lincoln) has arranged two new leases at Governors Lakes 100, an office building located in Atlanta’s Peachtree Corners submarket. Matt Davis and Jeff Henson represented the landlord in the transactions.

Century Communities, represented by Bennett Gottlieb and John Thornton of CBRE, signed a new 25,464-square-foot lease. Data Oceans also signed a 6,796-square-foot renewal, and Bill Leonard of Wm. Leonard & Co. represented the tenant.

Governors Lakes 100 is located at 3091 Governors Lake Drive in Norcross. The Class A office building totals 101,052 square feet and offers free covered deck and surface parking, efficient floor plans, an on-site fitness facility, walking/running trails and conference facilities. With the two new leases, Governors Lakes 100 is 88 percent leased.

The property’s sister building, Governors Lakes 200, is 100 percent available. The 102,364-square-foot Class A building offers a unique corporate relocation opportunity in a controlled park and a wooded setting featuring a 4.7-acre lake.  The building has 20,000-square-foot floorplates, a mix of open and private offices, and visibility along Peachtree Industrial Boulevard.

Jeff Henson

“There’s been a wave of tenants signing leases at Governors Lakes 100, thanks to its prime location with easy access to I-285,” Davis said. 

“The property’s sister building, Governors Lakes 200, offers a unique leasing opportunity for a large corporate user in a submarket with limited options, as there are currently only two buildings with this kind of availability.” 

Davis and Henson also secured a new 4,578-square-foot lease with Joynus Staffing at Peachtree Corners Corporate Center, located at 4855 Peachtree Industrial Blvd. in Norcross. 


The single-story office building totals 109,293 square feet, and includes a flexible design and easy access to Starbucks, FedEx, PNC Bank, Jimmy Johns, Zaxby’s and The Forum.

For a complete copy of the company’s news release, please contact:

Savannah Durban

The Wilbert Group

404-343-0870

sdurban@thewilbertgroup.com

The Habitat Company Adds More Than 1,000 Rental Units in Tampa, FL

Sheila Byrne

CHICAGO, IL – The Habitat Company, a leading multifamily property developer and manager, announced it has added another 1,019 units to its management portfolio, bringing the company’s total number of real estate assets under management to more than 24,000 residences.

Habitat has been selected by Goff Capital Partners as property manager for four individual market-rate properties in Tampa, Fla., and the surrounding area.

This marks the second management portfolio Chicago-based The Habitat Company has been awarded by Goff in less than three months.

 In November 2015, Goff added an additional 3,600 units to Habitat’s portfolio with the assignment of seven apartment communities in Birmingham, Ala.

 Habitat also serves as property manager for four other Goff properties located in Ann Arbor, Mich. and St. Louis, Mo.

“We’ve been managing apartments in the Tampa area for more than 3 years, so we’re proud to be expanding our footprint, and our management team, in such a desirable market,” said Sheila Byrne, executive vice president of property management at The Habitat Company.

“And having managed other Goff Capital Partners properties, we certainly understand the company’s needs, as well as those of its residents, which will allow us to continue to strengthen our relationship and provide best-in-class property management and the highest level of service.”

The four Tampa-area properties are all garden-style communities and include:

·     The Park at Elland, 218 units in Clearwater

·     The Park at Gibraltar, 207 units in Clearwater

·     The Park at Knightsbridge, 228 units in Riverview

·     Westbury at Lake Brandon, 366 units in Brandon

For a complete copy of the company’s news release, please contact:

  Cara Mooses, cmooses@taylorjohnson.com, 312.267.4523  

www.habitat.com.

MBA Forecasts Commercial/Multifamily Mortgage Bankers Originations to Hit New Record in 2016

Jamie Woodwell

ORLANDO, FL (Feb. 1, 2016) -- The Mortgage Bankers Association (MBA) projects originations of commercial and multifamily mortgages will grow to $511 billion in 2016, an increase of 3 percent from 2015 volumes and slightly more than the previous record of $508 billion originated in 2007.  

Mortgage banker originations of multifamily mortgages are forecast at $202 billion in 2016, with total multifamily lending at $262 billion.

“This past year was extremely strong for commercial real estate finance,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research.

“Property incomes are rising, interest rates are low and property values are up.  We expect the momentum to continue into 2016 and to support both the demand for and supply of commercial and multifamily mortgage capital. 

“We anticipate a growing economy, coupled with only gradual increases in interest rates, will continue to support a strong commercial property market. But, there is a chance that cap rates could increase more rapidly in response to rising interest rates, impacting property sales and mortgage originations.”

For a complete copy of the company’s news release, please contact:

Ali Ahmad

aahmad@mba.org

(202) 557-2727

Atlantic | Pacific Cos. Acquires Three More Assets to Expand Its Multifamily Portfolio in Georgia

Mark Briggs

MIAMI, FL – Miami, Fla.-based Atlantic | Pacific Companies (A|P) is pleased to announce the acquisition of three multifamily communities in Georgia. The recently closed deals expand A|P’s regional reach to 15 multifamily communities within four years of opening its Atlanta office.

A|P currently holds 12 other communities in Georgia including four in Atlanta, one in Kennesaw, two in McDonough, one in Norcross, one in Dallas, one in Duluth, one in Brookhaven, and one in Decatur.

The three new multifamily acquisitions include:

The Atlantic BridgeMill, located at 1000 Preston Glen Circle in Canton, GA is located in Canton’s beautiful Bridge Mill master-planned development. The property houses 236 units including spacious one, two and three bedroom floor plans.

Ashley Forest is located at 9230 Nesbit Ferry Road, in Alpharetta, GA. The 220-unit community is set amidst a naturally wooded landscaped retreat in North Fulton County – considered to be one of Atlanta’s most affluent areas.

The Domain at Holcomb Bridge is located amongst 52 acres of lush wooded surroundings at 3383 Holcomb Bridge Road in Norcross. The property houses 420 units.

Atlantic BridgeMill Apartments, Canton, GA

A | P Companies plans to make capital improvements to all three properties including enhancements to the clubhouses, fitness centers and pool areas, as well as upgrades within the units.

Atlantic | Pacific Management (A|P Management), the property leasing & management platform under A|P, will handle all property management responsibilities for all properties.

Mark Briggs, Senior Managing Director at A|P Management remarked “We’re extremely excited to continue our smart growth in the Atlanta market with the addition of these three well located assets.  We look forward to introducing our successful upgrade skills to these three value-add opportunities.

For a complete copy of the company’s news release, please contact:

Jessica Wade Pfeffer | Jessica Wade Inc.

jessica@jessicawadeinc.com

  305.804.8424

Margie Sernik  | Jessica Wade Inc.

margie@jessicawadein.com

  786.200.2516

www.apmanagement.net.

(800).918.1145

Real Estate Capital Institute Reports China’s Mystery Economy Keeping U.S. Mortgage Rates Tame

John Oharenko

Chicago, IL - Declining oil prices, China followed

by Fed statements are the order of news impacting capital markets and

keeping mortgage rates tame.  "Fueling" the fire that sparks low rates,

crude oil prices are the lowest levels since 2003.  China's economy remains

a mystery with limited information on recovery prospects.  This news mixture

leads to some of the most favorable bond rallies in recent history with

ten-year treasuries now dipping below the 2% range. The benchmark 10-year

note yield is actually down by about 40 basis points since the Fed announced

a rate hike at the end of last year.

\

John Oharenko, advisory board member of the Real Estate Capital Institute(r)

notes, "The mortgage markets are in for another wild ride this year.  A wide

variety of pricing exists between quality and more entrepreneurial real

estate funding options."

Yet again, the real estate borrowing community benefits from ongoing lower

rates. The likelihood of rising interest rates may be shelved for the

foreseeable future as conflicting economic signals hold back the Fed from

taking any further action.

Although benchmark rates are dropping, Wall Street's mortgage conduit market

suffers unpredictable pricing gyrations based upon widening yields within

all spectrums of the capital stack as investment-grade tranches rise more

than three quarters of a percentage point higher from last year's levels.

This funding sector is now quoting mortgage rates approaching 5% or more for

long-term debt.

Agencies, life companies and banks, on the other hand, are on a steadier

path as their sources of capital are more predictable, tending to price 25

to 50 basis points lower that conduit lenders, usually because of upon lower

leverage and more conservative underwriting. 

The bottom line for investors and borrowers alike...lower leverage with cash

flowing deals will continue to attract the most competitive capital.  All

other types of funding opportunities may require additional enhancements,

guarantees, holdbacks and other funding restrictions.  Leverage is becoming

more and more of a "red flag" as capital markets take a break from widening

price gaps and record low capitalization rates on most types of higher

quality properties.

For a complete copy of the company’s news release, please contact:

Jeanne Peck, Executive Director

director@reci.com

www.reci.com

Minor Hotel Group Completes Largest-Ever Hospitality Deal in Portugal with Acquisition of Tivoli Hotels & Resorts

Tivoli Hotels & Resorts, Portugal

BANGKOK, THAILAND  --  Minor Hotel Group (MHG), owner and operator of hotels and resorts in 22 countries across Asia Pacific, the Middle East, Europe, South America, Africa and the Indian Ocean, announces completion of the final stage of its acquisition of Tivoli Hotels & Resorts, a well-known Portugal-based brand with 14 properties across Portugal and Brazil.

The acquisition of Tivoli Hotels & Resorts, which totals EUR 294.2 million, not only marks MHG’s strategic entry into Europe and Latin America, but also provides the group with a strong operating platform to drive further growth in those markets.

This represents the largest-ever hospitality transaction in Portugal and is a highly accretive acquisition for MHG. The Tivoli business is strong, generating revenue of EUR 121 million and normalised EBITDA of EUR 31 million in 2015. The acquisition not only adds strong earnings underpinned by valuable hotel assets, but is also well-timed to capitalise on recent strong growth in Portugal’s tourism market.

Tivoli Hotels and Resorts, Portugal

The acquisition was completed in separate stages over the course of more than 12 months under highly challenging circumstances, highlighting MHG’s strong, multijurisdictional deal execution capability.

This final transaction follows MHG’s acquisition in 2015 of five Tivoli hotels in Portugal and two Tivoli hotels in Brazil, along with the Tivoli brand in Brazil. This now gives MHG the opportunity to expand the reach of the Tivoli brand into its other areas of operation including the Middle East, Africa and Asia.

 In addition MHG intends to fully capitalise on Tivoli’s strong asset portfolio by investing further in the Tivoli hotel assets to further enhance the positioning of the brand across its markets.

Tivoli Hotels and Resorts, Portugal

This final stage of the brand’s acquisition comprises seven hotels in Portugal: in the country’s capital, the 119-key Tivoli Jardim Lisboa Hotel; the 77-key Tivoli Sintra Hotel in the UNESCO World Heritage Site of Sintra, and the 30-key Tivoli Palácio de Seteais to the west of Lisbon; in the Algarve, one of Europe’s premier tourism destinations, the 324-key Tivoli Lagos Hotel Beach Club & Golf; the 280-key Tivoli Victoria Vilamoura Golf Resort Conference & Spa; The Residences at Victoria Clube de Golf which has 88-keys, plus the 100-key Tivoli Coimbra Hotel in historic Coimbra north of Lisbon.

These seven properties are part of the overall Tivoli portfolio of 14 hotels, totalling 12 in Portugal and two in Brazil, with almost 3,000 keys in total. 

Dillip Rajakarier, COO of Minor International and CEO of Minor Hotel Group, commented, “We are excited to add Tivoli to Minor Hotel Group’s portfolio of hotel brands.

 

Dillip Rajakarier

“With over 80 years of history, the Tivoli brand brings with it a rich heritage, a highly experienced team and a deeply loyal customer base. 

"The Tivoli acquisition further cements MHG’s position as a world-class hotel operator, with a portfolio now extending to Europe and South America. Looking forward, we have already planned further investment into the Tivoli hotel assets and its operating and distribution infrastructure to realise the full potential of this strategic investment.”

The Tivoli acquisition is the latest in a series of international investments by Minor Hotel Group as part of its long term diversification strategy, which over the last two years has seen the group invest over USD 550 million in hotel projects in Southern and East Africa, Asia, Australia, South America and Europe.

 These investments include, in addition to Tivoli, a joint venture with Sun International, new hotel projects in Australia and Malaysia and investments with existing joint venture partners Rani Investment and Elewana Collection in Southern and East Africa.

With these additional Tivoli hotels, MHG’s overall hotel portfolio now totals 145 properties across 22 countries. Tivoli is a member of Global Hotel Alliance, to which three of MHG’s existing brands – Anantara, AVANI and PER AQUUM – also belong.

For a complete copy of the company’s news release, please contact:

Hwee Peng Yeo

Vice President, Asia Markets

Glodow Nead Communications

San Francisco • New York • Singapore • Shanghai

Level 21, Centennial Tower, 3 Temasek Avenue • Singapore 039190

Level 15, One Corporate Avenue, 222 Hubin Road, Shanghai China, 200021

1700 Montgomery Street, Suite 203 • San Francisco, CA • 94111

Asia: 65.9768.6087  US:415.394.6500 • E: hweepeng@glodownead.com

 www.GlodowNead.com

  

杨慧萍

副总裁

博德纳公关咨询公司

Centennial Tower 21层，Temasek Avenue 3号， 新加坡邮区039190

上海湖滨路222号企业天地一号15层，中国邮编20021

E: hweepeng@glodownead.com

www.GlodowNead.com

Berger Commercial Realty Closes Sale of Pompano Beach, FL Office Building for $460,000

Office Building Dixie Highway and U.S. 1, Pompano Beach, FL

Greg Milopoulos

FORT LAUDERDALE, FL (Feb. 3, 2016) - Berger Commercial Realty brokers Steve Hyatt and Greg Milopoulos recently facilitated the sale of a Pompano Beach office building for $460,000. Hyatt represented KMG Holdings, LLC in the purchase of the 3,297-square-foot building from Harry D. Dennis Jr., who was represented by Milopoulos.

 "In a market with limited available assets, property owners are willing to pay a slight premium for potential long-term assemblage. Therefore, this deal was particularly rewarding for both parties," said Milopoulos.

Situated on a 6,098-square-foot lot just east of Dixie Highway and west of US1, the single story office building provides convenient access to I-95 and A1A, as well as Pompano Beach Airpark, local restaurants and beaches.

"Its location offers ideal exposure on Atlantic Boulevard and is easily accessible from anywhere in Broward County," said Milopoulos. 

 For a complete copy of the company’s news release, please contact:

954-776-1999

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com

Crossman & Co. Negotiates Two New Leases at Paradise Shoppes at Apollo Beach, FL

 

Sandra Woodworth

 Apollo Beach, FL --- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently negotiated two new long-term leases at Paradise Shoppes at Apollo Beach on N. U.S Highway 41.

Senior Leasing Associate Sandra Woodworth negotiated both transactions on behalf of the landlord of the Publix-anchored shopping center. 

Tampa General Medical Group leased 4,545 square feet and Sweet Rose Photography leased 450 square feet.   DeLaVergne & Company represented Tampa General Medical Group in the transaction. 

Other major tenants at the 109,756 square foot Paradise Shoppes at Apollo Beach include Beef O’Brady’s, Trustco Bank and Verizon Wireless. 

 For a complete copy of the company’s news release, please contact:

Beth Payan Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com

TerraCap Management Buys Bailey Park in Kennesaw, GA for $18.3 Million in first Georgia Acquisition

Steve Good

 ATLANTA, GA (Feb. 3, 2016) – Private equity fund manager, TerraCap Management, LLC, has purchased Bailey Park, a five-building 198,475-square-foot industrial/flex park located in Kennesaw, Georgia, for $18.3 million.

The acquisition marks the company’s first transaction outside the state of Florida where it has amassed an impressive portfolio of office properties and commercial assets valued at over $300 million.

“We are excited to expand outside of the state of Florida and diversify our footprint with the acquisition of Bailey Park,” said Steve Good, partner of TerraCap. 

“We view Atlanta as a favorable market with a lot to offer tenants. The growing employment rate, number of people relocating to the area and access to one of the country’s top airports make Atlanta attractive for industrial/flex users.” 

The property, located on Cobb Place Boulevard amongst high-end residential neighborhoods and sought-after amenities, features 12’, 14’ and 18’ clear heights; grade level and dock high loading; easy ingress and egress to major roadways; surface parking with 4.5 spaces per 1,000 RSF; and an attractive, heavily maintained landscape.

Tony Bartlett

Lincoln Property Company (Lincoln) has been hired to provide leasing and management services to the park, which is currently 80 percent leased. 

“We seek to align ourselves with strong third party service companies, and we are pleased to expand the relationship with Lincoln as they currently manage and lease a sizeable portfolio for us in Orlando,” Good said.

 “We look forward to working with TerraCap as the company continues to seek well-located, value-add opportunities throughout the state,” said Tony Bartlett of Lincoln. 

“We are impressed with the entire TerraCap team and they have a well-defined strategy for property-level execution and further, penetrating the Atlanta market with complementary acquisitions.”  

Tom Shafer of CBRE represented J.W. Richardson Enterprises Inc., the seller, in the transaction.

 For a complete copy of the company’s news release, please contact:

Savannah Durban

The Wilbert Group

404-343-0870

sdurban@thewilbertgroup.com

Mortgage Bankers Association Honors Cathy Pharis with 2016 CREF Distinguished Service Award

Rodrigo Lopez

ORLANDO, FL -- The Mortgage Bankers Association (MBA) has awarded Cathy Pharis, Managing Director and Head of FHA Platform for Wells Fargo Multifamily Captial (WFMC), Wells Fargo Bank, N.A., with the 2016 Commercial Real Estate Finance (CREF) Distinguished Service Award at the Association's 26th annual CREF/Multifamily Housing Convention & Expo held in Orlando, FL.

“Cathy was instrumental in redesigning the MBA Multifamily Steering Committee to incorporate MBA members from all multifamily capital sources,” said Rodrigo Lopez, CMB, MBA Chairman-Elect and Executive Chairman of NorthMarq Capital Finance, L.L.C.

 “Cathy chaired MBA’s FHA Task Force in 2011-2012, where she was key in shaping MBA’s recommendations to FHA, virtually all of which were accepted to enhance efficiencies and for more training.”

Pharis is the head of the FHA Platform for Wells Fargo Multifamily Capital (WFMC). In that role, she is responsible for overseeing the origination and underwriting of all projects financed by WFMC using HUD’s mortgage insurance programs. 

Prior to joining Wells Fargo in 2009, Pharis was with Deutsche Bank Berkshire Mortgage, Inc. (including predecessor companies) for over 25 years.

  For a complete copy of the company’s news release, please contact:

Ali Ahmad

aahmad@mba.org

(202) 557-2727

W Financial Provides $10 Million Bridge Loan for Planned Five-Unit Condominium Building on Manhattan’s Upper East Side

Planned Five-Unit Condominium Building, East 64th Street,
Upper East Side, Manhattan, NY

 

David Heiden

NEW YORK, NY --  W Financial has provided a $10,000,000 bridge loan collateralized by a multi-family building located on East 64th Street on Manhattan's Upper East Side.

The developer, a repeat borrower, utilized W Financial in order to be able to acquire the property in less time than would have been possible if he had financed the project with a conventional lender.

The finished product will be a new, high-end, five-unit condominium building. It is expected that W's loan will be repaid with a traditional construction loan. W's borrower is an experienced developer who has an expertise in creating significant value with this type of property.

W will also consider providing re-hab and construction loans for experienced developers, as well as mezzanine financing on well-located, cash-flowing properties.

Call me, or contact our Senior Loan Officer, Jarret Schochet | jarret@w-financial.com

 at (212) 684-2205, or contact my partner David Heiden | david@w-financial.com

 (212) 684-8484 to discuss your new loan scenarios.

For a complete copy of the company’s news release, please contact:

Gregg Winter - Founder & Managing Partner

W Financial Fund, LP

Special Situation Financing for Commercial Real Estate ®

149 Madison Avenue, Seventh floor

New York, NY 10016

Phone: 212 532-1122 x1

Email: gregg@w-financial.com

http://www.w-financial.com

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