$45.5M sale of 270-unit multi-housing community in Vancouver, WA, announced by HFF

Carrie Kahn

PORTLAND, OR –– Holliday Fenoglio Fowler, L.P. (HFF) announces $45.5 million sale of Bridge Creek, a 270-unit, garden-style multi-housing community in Vancouver, Washington.

The HFF team exclusively represented the seller, Aukum Group, and procured the buyer, Jackson Square Properties.

Bridge Creek is located at 9211 NE 15th Avenue near an array of shopping, banking and cinemas, as well as Interstates 5 and 205, Clark College and Washington State University.

Ira Virden

 The property is also a short commute to downtown Portland and the Portland International Airport. Bridge Creek’s one-, two- and three-bedroom apartment homes feature contemporary layouts with fully equipped kitchens, large closets, in-unit washers and dryers and garages.

 The pet-friendly community also offers amenities, including a swimming pool with expansive sundeck, fitness studio, resident lounge, executive business center, off-leash dog park and playground.

The HFF team representing the seller included senior managing director Ira Virden and director Carrie Kahn.

Aukum Group (formerly Aukum Management) is a private real estate investment company focused on apartments in the western United States. The company partners exclusively with private accredited investors and select private equity funds.

 Aukum has acquired approximately 4,850 apartment units since its founding in 2009, and is actively managing a portfolio of over 4,000 units valued at over $750 million.  Aukum is actively selling and acquiring new assets in select western markets.

Bridge Creek Apartments, Vancouver, WA

Jackson Square Properties is a private real estate investment company located in the San Francisco Bay Area that specializes solely in the purchase and ownership of multifamily apartment communities.  

Founded in 2004, Jackson Square Properties has expanded over the years to own a diverse pool of multifamily assets totaling more than 75 communities with 20,000 units in 10 states.

For more information on this transaction, please contact:

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

Boynton Beach-based firm’s 43 agents at The Realty Pros join Keyes to continue its Palm Beach County expansion

(From L eft): Keyes CEO Mike Pappas; Keyes Boynton Beach District Sales Manager Jo Ann Mazzeo; The Realty Pros Founder Debra Simon and Keyes Senior Vice President Steven Reibel

Boynton Beach, FL – The Keyes Company has announced the acquisition of the Boynton Beach-based real estate firm The Realty Pros.

This marks the fourth acquisition for the firm since August 2017, proving Keyes and its Family of Companies are committed to growth throughout South Florida and the Treasure Coast.

The Realty Pros brings 43 agents who specialize in Palm Beach County residential properties to the Keyes team. The acquisition was officially announced during a private event held on Wednesday, January 10.

Debra Simon

The location of The Realty Pros office at 8788 West Boynton Beach Boulevard within the Canyon Town Center brings significant strategic value to Keyes. West Boynton Beach is experiencing substantial growth and activity.

“We are thrilled to welcome The Realty Pros to the Keyes family,” said Keyes CEO Mike Pappas. “The Realty Pros team has substantial experience, top-notch professionalism and a true passion for real estate and serving the community.”

For The Realty Pros Founder Debra Simon, the transaction represents a full-circle moment following more than 30 years in the real estate industry. After initially obtaining her real estate license in 1985, Simon started her brokerage career with Keyes.

Simon also has a music background that she has parlayed into charity work throughout South Florida. She has spent countless hours performing and signing for residents at assisted living and Alzheimer’s facilities and veterans’ hospitals. Simon has long-term relationships with Alzheimer’s Research and Care, the Cancer Research Institute and Make-A-Wish Foundation.

Mike Pappas

“As an independent company we are excited to find a firm that shares our personal approach, enthusiasm for real estate and overall core values,” said Simon. “We are also excited to leverage the leadership, marketing, resources and technology of Keyes to promote our properties. We know this will be a successful union.”

Independently-owned and operated since its founding in 1926, Keyes is extremely active in luxury residential real estate. 

In 2016, Keyes listed more than $1 billion in luxury homes priced at $1 million or more.

The Keyes Family of Companies is the largest independently-owned real estate firm in Florida and a Top 25-ranked firm in the entire United States. In Palm Beach County alone, Keyes has in excess of 1,100 Sales Associates and produces double the volume of its closest competitor.

For more information on this transaction, please contact:

Jasmin Curtiss

 Account Executive, BoardroomPR

jcurtiss@boardroompr.com

 O 954-370-8999

 Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Grover Corlew Sells Resurgens Park Buildings in Fayetteville, GA for $16.3 Million

Fayetteville, GA Professional-Use Buildings off Highway 54

FAYETTEVILLE, GA  (Feb. 21, 2018) – Florida-based real estate investment group Grover Corlew announces the development and sale of the Fayette Surgical Building, Fayette Medical Building and a parcel of undeveloped land on Highway 54 in Fayetteville, Ga. for $16.3 million. 

After developing Fayette Medical Building approximately 10 years ago, Grover Corlew recently completed the state-of-the-art Fayette Surgical Building for Resurgens Orthopaedics.

“Our firm specializes in identifying properties with attractive investment features and unique development possibilities, which were evident with this property,” said Partner Anuj Grover. “The buildings are ideally situated right off Highway 54 in the growing Atlanta suburb of Fayetteville, catty-corner to Piedmont Fayette Hospital which is a 221-bed community hospital that is among the most highly-ranked and awarded hospitals in the Southeast.”

Anuj Grover

Grover Corlew broke ground on the Fayette Surgical Building in late 2016 and completed the building in October 2017. 

Resurgens Fayette Surgery Center occupies 16,644 sq. ft. of space in the Fayette Surgical Building offering a high quality, service-oriented environment for out-patient orthopaedic surgical procedures. The adjacent 13,551 sq.-ft. space is occupied by Resurgens Orthopaedics and Spine Center, the largest orthopaedic group in the state of Georgia.

In addition to the Fayette Surgical Building, the sale included the nearby 17,500 sq.-ft. Fayette Medical Building, also leased to Resurgens Orthopaedics, and an adjacent excess land parcel.

For more information on this transaction, please contact:

Samantha Van Nuys

Pierson Grant Public Relations

6301 Northwest 5th Way, Suite 2600
Fort Lauderdale, FL  33309
P: (954) 776-1999  ext. 115
F: (954) 776-0290
svannuys@piersongrant.com

piersongrant.com                            
High Impact Digital

EagleBridge Capital Arranges $12,650,000 Mortgage Financing For Downtown Providence, Rhode Island Apartments

95 Lofts Apartments, 95 Chestnut Street, Near Knowledge and Jewelry Disricts, Downtown Providence, RI

Boston, MA: EagleBridge Capital, working exclusively on behalf of its client, has arranged permanent mortgage financing in the amount of $12,650,000 for 95 Lofts located at 95 Chestnut Street in the Knowledge District and near the historic Jewelry District in Downtown Providence, Rhode Island. 

Ted M. Sidel

The mortgage financing was arranged by EagleBridge principals Brian D. Sheehan and Ted. M. Sidel who stated that the non-recourse loan was provided by a leading Massachusetts financial institution. The borrower was represented by the law firm of DarrowEverett.

95 Lofts is a six-story, 58,500 square foot, residential building consisting of 59 apartment units plus 2500 square feet of ground floor commercial space.

The building constructed in 1904 and then known as the Irons and Russell Building has undergone an extensive historical renovation in which period details have been carefully restored including an original ornate birdcage elevator, stairway subway tile, and terrazzo tile floors.

The units feature abundant natural light, exposed brick walls, high ceilings, original maple floors, and unique layouts.

Brian D. Sheehan

The apartments offer premium contemporary finishes with kitchens featuring the latest Energy Star rated appliances, modern cabinetry, and ample storage space. Other features include high speed wifi, a smartphone entry system, and high efficiency heating and cooling.    There are 33 one bedroom units and 17 two bedroom units and 9 studios.

Located nearby are the Brown University Warren Alpert Medical School, The Brown University Molecular Medicine Building, Women and Infants Hospital, Johnson and Wales University, and Lifespan’s world headquarters.

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for apartment, industrial, office, and  r & d buildings, shopping centers,  hotels, condominiums and mixed use properties as well as special purpose buildings.

For more information on this transaction, please contact:

Stanley J. Sidel

Senior Advisor

EagleBridge Capital

One Boston Place, Suite 2600

Boston, MA 02108

Tel: 617-292-7177 Ext. 300

www.eaglebridgecapital.com

Daum Commercial Directs Lease of Los Angeles County Industrial Facility to Expanding Olive Oil Manfacturer

Dennis Sandoval

MONTEBELLO, CA  (Feb, 21, 2018) – DAUM Commercial has completed the full-building lease of a 54,648 square-foot warehouse in Montebello, California on behalf of the lessor, Emery Investments, a Toronto-based privately owned real estate development and property management company. Dennis Sandoval, an Executive Vice President in DAUM’s City of Industry office, represented the lessor along with Kevin Sandoval, Kurt Yacko, and Bryan Sandoval, all with DAUM Commercial.

Kevin Sandoval

The tenant, Sunset Olive Oil, will maintain its occupancy in its existing processing plant in Montebello, and is expanding into this warehouse to meet additional needs for storing and distributing raw materials and its finished products.

“This expansion and lease was a win-win for Los Angeles County, and for our client,” says Sandoval. “Keeping manufacturers in the LA Basin is a priority for local leaders, especially as many businesses expand out of state, into Texas, Arizona and Nevada.  In this case, we worked closely with the City of Montebello and LA County to identify the right tenant for this property, which will create approximately 20 new jobs in the region.”

Bryan Sandoval

The property was recently upgraded with a new roof, new lighting, updated landscaping, refreshed office space with skylights, and both interior and exterior improvements.  Additional features include four dock-high loading doors, 68 parking spaces, and a secure private yard.

“A stand-alone industrial property with these features is a rare find in the current market,” says Sandoval.  “Drawing upon our knowledge of the submarket and our expertise in this product type, we were able to proactively market the building and garner multiple competitive offers within 30 days.”

Sandoval anticipates a continued rapid transactional pace as 2018 progresses.

Kurt Yacko

“Industrial leasing and sales are poised for a strong year,” he says.  “The Central/Southeast Los Angeles industrial market posted steady occupancy increases in Q4 of 2017, moving from 2.1-percent vacancy to 1.9-percent vacancy. In addition, average asking rents increased 8.1-percent year-over-year.  This is robust growth for the market and represents excellent growth potential for industrial lessors in the year ahead.”

The property is located at 1215 Washington Boulevard in Montebello, California.  The lessee was represented by Mark Repstad with Realty Advisory Group.

For more information, please contact:

Lindsay Mackay / Elisabeth Manville

Brower Group

(949) 955-7940

lmackay@brower-group.com

Marcus & Millichap Arranges $2.36 Million Sale of Summerplace at Sarasota, FL

  

                                                      Krone Weidler

SARASOTA, Fla., Feb. 21, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Summerplace at Sarasota, a 14.02-acre parcel of land located in Sarasota, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $2,365,000.

Krone Weidler and L.J. Tsunis, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a financial institution. The buyer, a limited liability company, was secured and represented by  Weidler Tsunis.
            “Through our comprehensive search, our team was able to maximize proceeds for the seller, and achieve a quick closing. The buyer plans to do an addition to a large senior housing complex,” says Mr. Tsunis

Summerplace at Sarasota is located in Sarasota, Florida, just one-half mile west of Interstate 75 and less than a mile south of Clark Road. The current zoning is Residential Multiple Family Category 1 (RMF-1) which allows a desirable variety of housing types with six units per acre density and auxiliary buildings for residential development.

L.J. Tsunis

The future land use is for medium density residential allows for greater than five units but less than nine units per acre. There is a 35-foot height restriction and a maximum building coverage area of 30 percent.

Known for small-town living, beaches and resorts, the Sarasota metro is a major draw for tourists and retirees. Roughly thirty percent of the population is age 65 and older, supporting a large network of healthcare providers and contributing to jobs in this sector. Goods and services also benefit from the demographic trends; the sector makes up a large portion of the local workforce.

The metro encompasses all of Manatee and Sarasota counties. The city of Sarasota is 60 miles south of Tampa. Summerplace at Sarasota is located at 5710 Draw Lane in Sarasota, Florida.

For more information, please contact:

Ari Ravi

Regional Manager, Tampa

(813) 387-4700

Hold-Thyssen Closes on Investment Sale and Long-Term Lease of Professional Offices in New Port Richey, FL

Carol L. Kinnard

CLEARWATER / NEW PORT RICHEY --- Hold-Thyssen, LLC, a full service commercial real estate firm with offices in Clearwater negotiated a sale of real property, a corporation and a lease of professional offices in New Port Richey.

Carol L. Kinnard, transaction specialist at Hold-Thyssen, represented the seller, RTF Holdings, Inc. in a sale transaction at 5705-5713 Gulf Drive in the Gulf Drive Professional Center. The buyer is a real estate investor who purchased the 5,588 square foot building composed of five office units, two of which are leased, and the office condominium association.

At Counsel Square I, 7619 Little Road, Kinnard brokered a lease renewal agreement on behalf of the landlord, a private investor, for Suite 325C with 1,000 rentable square feet.  Psychological Management Group has been a tenant at Counsel Square since 1999 providing mental health services to individuals and families from this and five other locations in the Tampa Bay area.

Hold-Thyssen, Inc. provides commercial property brokerage and 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.

.* * *

For more information, please contact

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

Kerry Hawkins joins HFF as a senior director in its Boston office

Kerry Hawkins

Boston, MA -- Holliday Fenoglio Fowler L.P. (HFF) announced Kerry Hawkins has joined the firm as a senior director focused on office investment advisory transactions in its Boston office.

Ms. Hawkins brings more than 18 years of experience in commercial real estate and joins HFF from CBRE, where she was a first vice president.  In this role, she represented numerous landlords and tenants in the sale and leasing of office properties, with a specific focus on the repositioning and marketing of underperforming assets. 

Ms. Hawkins holds a Bachelor of Arts from Colby College and is an active member of the Commercial Brokers Association (CBA); CREW Boston, where she serves on the Charity Golf Committee; and NAIOP, where she is chair of the 2018 Gala and a former bus tour chair. 

Coleman Benedict

Through the years, she has been acknowledged by the industry with the Women of FIRE Award (Banker and Tradesman), the CREW Professional Service Award, the NAIOP National Developing Leader Award, Boston SF Woman of the Year and the Boston Business Journal’s 40 Under 40 Award.

“We are excited to have Kerry join our investment advisory platform in Boston; she is a highly regarded, motivated individual and will complement our existing team at HFF well,” said Coleman Benedict, senior managing director and co-head of HFF’s Boston office.

  “Her deep relationships with many of the largest landlords and tenants in the Boston area, coupled with her extensive knowledge of the market, will be a value add for HFF’s current and potential future clients.”  

For more information, please contact:

 KRISTEN MURPHY

HFF Director, Public Relations
(617) 338-0990
krmurphy@hfflp.com

Draper and Kramer Adds New Senior Vice President to Acquisitions Team

Blas Puzon

CHICAGO, IL – Draper and Kramer, Incorporated, a national full-service real estate firm, is pleased to announce Blas Puzon has joined the firm as a senior vice president on the company’s acquisitions, development and asset management team.

In this role, Puzon will draw upon his more than 20 years of commercial real estate expertise to target and expand Draper and Kramer’s property acquisition efforts in new national markets.

“Blas Puzon is a time-tested leader in the real estate investment industry who adds new depth to our acquisitions bench," said Ed Polich, chief development officer and senior vice president for Draper and Kramer. “His fundamental knowledge of the business, from deal negotiations to asset management to debt structuring, is a valuable asset for Draper and Kramer as we execute our forward-thinking growth strategy in 2018 and beyond. I am thrilled to welcome him to our team."

Ed Polich

Puzon joins Draper and Kramer from Seattle, where he held multiple roles with the Pinnacle Family of Companies. Recent positions included senior vice president of capital transactions and managing director of Olympic Investors, Pinnacle’s previously affiliated investment entity, through which he acquired approximately 10,000 multifamily units representing nearly $1 billion in transactions.

Additionally, Puzon served as an investment consultant to Hunt Investment Management, the real estate investment management company of Hunt Companies, which purchased Pinnacle in late 2014.

"As a fully integrated and highly established real estate brand, Draper and Kramer allows for unique opportunities to expand an investment portfolio and to capitalize on various growth strategies within the industry," said Puzon. "I look forward to working side by side with the executive team to broaden the firm's footprint nationwide."

Puzon, who earned his Chartered Financial Analyst (CFA) designation in 2005, holds a Bachelor of Science in civil engineering from the University of Washington and an MBA in finance and real estate from the USC Marshall School of Business.

For more information, please contact: 

Mimi Simon, msimon@taylorjohnson.com, (312) 267-451

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

www.draperandkramer.com.

HFF announces $160M sale and financing of 1600 Market in Philadelphia’s CBD

1600 Market, Central Business District, Philadelphia, PA

PHILADELPHIA, PA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $160 million sale and financing of 1600 Market Street, a Class A, 39-story office tower totaling 825,968 square feet in Philadelphia's CBD.

Cary Abod

The HFF team represented the seller, Equity Commonwealth, and procured the buyer, an affiliate of American Real Estate Partners (“AREP”).  Additionally, HFF worked on behalf of AREP and its institutional joint venture partner to secure a three-year, floating-rate loan for the acquisition.

​1600 Market Street benefits from its “Main & Main” location in the Market Street West submarket where ever-improving leasing fundamentals generates significant leasing demand from Center City’s most discerning office and retail tenants.  American Real Estate Partners has exciting renovation plans to amenitize the property and to enhance the retail experience in the lobby. 

​The HFF investment advisory team representing the seller included senior managing director Doug Rodio and managing director Brett Segal.

The HFF debt placement team representing the borrower consisted of managing directors Ryan Ade and Cary Abod.

​HFF and Holliday GP Corp. ("HFF") are licensed Pennsylvania real estate brokers.

For more information, please contact:

KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990
krmurphy@hfflp.com

New Castle Hotels & Resorts Promotes Anna Barker to Vice President

Anna Barker

SHELTON, CT — Judi Scofield, chief financial officer of New Castle Hotels & Resorts, a leading third-party hotel management company, owner and developer, announced the promotion of Anna Barker to vice president corporate accounting.  

                Barker most recently was the senior director of corporate accounting. She joined the company in 1992 as a member of the accounts payable team and advanced steadily through the property accounting department before joining the corporate treasury and finance team in 2001 as an analyst. 

 In her new role, Barker will be responsible for the corporate accounting department, overseeing outside tax and financial accountants, real estate tax advisors and attorneys and corporate accounting staff, while interfacing with operations team members. She holds a BS in accounting from Central Connecticut State University.

                "Over the years, Anna has demonstrated a work ethic and a willingness to learn that has enabled her to steadily take on more challenging assignments and complex roles,” said Scofield.  “She has earned the respect of her team and others in and outside the organization with her professionalism and her tenacious approach to her work.  I am so pleased that we’ve been able to offer her the career growth she has earned.”        

                               

Judi Scofield

New Castle Hotels & Resorts is an award-winning independent third-party hotel manager, owner and developer with 25 hotels and resorts and nearly 3,800 rooms under contract or in development.  New Castle’s growing portfolio of hotels spans nine states and two Canadian provinces and includes several of Canada’s historic landmark resorts. 

 The privately-held company was established by CEO, David Buffam in 1980 and consistently ranks among the top hotel management and development companies in North America. New Castle is a preferred operator for diverse brands within the Marriott, Hilton and Choice families. 

 For more information, please contact:

Lauralee Dobbins

President

Write Touch Public Relations

856-979-8929

Lauralee@WriteTouchPR.com

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