Veteran Executive Launches Real Estate Advisory Firm to Assist Non-US Investors

 SAN DIEGO, CA, Aug. 13, 2012 – Scott Sweeney (top right photo), CCIM, CPM, an accomplished executive with 28 years of experience in commercial real estate investment, has launched Property Income Advisors, Inc., a real estate advisory firm focused exclusively on assisting non-U.S. clients in the investment and management of United States commercial real estate. 

Property Income Advisors will assist high net-worth investors, family offices, private banks and institutions in providing comprehensive services including customized investment strategies, creation of tax efficient holding structures, Shari'a compliant transactions, asset management, acquisitions, dispositions, financing and consulting services.

"Our goal is to serve as an unbiased fiduciary, providing superior service and innovative investment strategies for our clients," said Sweeney.  "We have the knowledge, expertise and track record to deliver exceptional results to non-U.S. investors looking to partner with a premier real estate investment advisory firm."

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

David Ebeling

Ebeling Communications

(949) 278-7851

david@ebelingcomm.com

www.propincadv.com.

STAG Industrial, Inc. Announces Acquisition of a $5.6 Million Warehouse and Distribution Facility in North Carolina

BOSTON, MA /PRNewswire/ -- STAG Industrial, Inc. (NYSE:STAG) announces the acquisition of an approximately $5.6 million, 185,570 square foot, warehouse and distribution facility located in Huntersville, North Carolina.

The building is 100% leased to Performance Team Freight Systems, Inc. with a remaining lease term of approximately 4 years.

Performance is a provider of supply chain logistics as well as transportation, trucking, distribution, deconsolidation, and logistics services in the United States. 

This facility is used to service the distribution and warehousing needs of Positec USA Inc., in which Performance has a partnership.  Positec manufactures and markets electronic and battery-powered outdoor tools including power tools and lawn and garden equipment.

This acquisition brings STAG's total 2012 acquisition volume to approximately $136 million.

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

Gregory W. Sullivan,

Chief Financial Officer,

STAG Industrial, Inc.,

+1-617-226-4987,

InvestorRelations@stagindustrial.com

Web Site: http://www.stagindustrial.com

Lincoln Property Co. Southeast Brokers Orthopedic Clinic’s Lease of 11,000 SF in Downtown Orlando

ORLANDO, FL – Lincoln Property Company Southeast has brokered Jewett Orthopedic Clinic’s long-term, 11,000-square-foot new lease at the Lake Lurna Professional Center (top left photo), a 45,000-square-foot medical office building in downtown Orlando, Fla.

Jay Dixon (lower right photo), vice president, office, for Lincoln Property Company Southeast, represented the landlord in the transaction. Darren Wagner, vice president at RJ King & Associates, represented the tenant.

The three-story building, which was built in 1985, features 240 feet of Orange Avenue frontage and is located just south of Orlando Regional Medical Center (ORMC).

“With its proximity to ORMC and its visible signage on Orange Avenue, this is an excellent site for Jewett Orthopedic Clinic,” Dixon said. “We are confident the company will thrive in this location and prove to be an ideal tenant for our client’s asset.”

Contact

Stephen Ursery

Wilbert News Strategies

404-965-5026

sursery@wnspr.com

HFF closes $12.4 million sale of three-property multi-housing portfolio in NJ

FLORHAM PARK, NJ – HFF announced today that it has closed the sale of a three-property, 89-unit multi-housing portfolio located in New Jersey.

HFF marketed the properties on behalf of the seller, AIG Global Investment Group.  Vantage Properties, LLC’s affiliate, Candlebrook Properties purchased the offering for $12.4 million. 

The properties average 95 percent occupancy overall and are located within Middlesex, Bergen and Essex Counties.  The individual properties are Highland Gardens in Highland Park, Karl Place Apartments in Garfield and Stephens Street Apartments in Belleville, New Jersey.

The HFF team representing AIG was led by senior managing directors Jose Cruz and Andrew Scandalios (middle left photo) along with managing directors Kevin O’Hearn (lower right photo) and Jeff Julien and associate director Michael Oliver.

 This is the fourth multi-housing portfolio HFF has closed for AIG, which now totals approximately 2,600 units in an 18-month period.

“This transaction is the second group of assets from AIG that Vantage has purchased and the firm has performed exceptionally well during the process.  Vantage has continued to show their ability to consummate transactions in a difficult economic environment,” stated Cruz. 

AIG Investments comprises a group of international companies, which provide investment advice and market asset management products and services to clients around the world. AIG Investments is a worldwide leader in asset management, with extensive capabilities in equity, fixed income, hedge funds, private equity and real estate.

Founded in 2005, Vantage Properties, LLC is one of the leading investors in New York residential and retail properties.  The principals of Vantage are Neil Rubler and Devin Aronstam.

 

Contacts:

JOSE R. CRUZ                                              

HFF Senior Managing Director                    

(973) 549-2000                                               

jcruz@hfflp.com                                            

                                            

KRISTEN M. MURPHY

HFF Associate Director, Marketing

(713) 852-3500

krmurphy@hfflp.com

Tax Credit Group of Marcus & Millichap Surpasses Milestone of $3 Billion in Property Sales

SEATTLE, WA – The Tax Credit Group (TCG) of Marcus & Millichap reached a milestone by closing more than $3 billion in low-income housing tax credit (LIHTC) apartment transactions.

Since the group’s founding in 2001, it has arranged the sale of 459 multifamily assets valued at $3,207,123,517 according to John J. Kerin, Marcus & Millichap’s president and chief executive officer.

Led by executive vice president investments Robert Sheppard (top right photo), the firm’s Tax Credit Group has grown to a team of over 30 professionals specializing in LIHTC investment sales, capital solutions and advisory services for the industry.

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

Stacey Corso

Public Relations Manager

(925) 953-1716

TNP Strategic Retail Trust Announces the Appointment of Dee R. Balch, MBA, CPA as Director and Chief Financial Officer

   

IRVINE, CA– TNP Strategic Retail Trust, Inc. (the “Company”), a public non-traded REIT that invests in grocery and drug-store anchored, multi-tenant necessity retail properties and other real estate-related assets, announced today the appointment of Dee R. Balch (top right photo) as a Director and Chief Financial Officer of the Company.

Ms. Balch will immediately serve as a director of the company and will assume the role of Chief Financial Officer effective August 15, 2012.

Ms. Balch will replace James R. Wolford as a member of the board of directors of the company effective July 27, 2012.

 In addition to continuing in his role as Chief Financial Officer at Thompson National Properties, Wolford was recently promoted to President and Chief Operating Officer of Thompson National Properties and will devote his time to those responsibilities.

TNP Strategic Retail Trust Announces Renewal of Advisory Agreement

    

 IRVINE, CA– TNP Strategic Retail Trust, Inc. (the “Company”), a public non-traded REIT that invests in grocery and drug-store anchored, multi-tenant necessity retail properties and other real estate-related assets, announced that its independent board of directors has renewed the Company’s advisory agreement with its external advisor, TNP Strategic Retail Advisor, LLC for one year to August 7, 2013. TNP Strategic Retail Advisor, LLC is a subsidiary of Thompson National Properties, LLC.

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

Jill Swartz

949-485-1552,

 jill@spotlightmarcom.com

 www.tnpre.com.

Bull Realty Sells Midtown City Block in Atlanta

  

ATLANTA (Aug. 10, 2012) – Daniel Latshaw (top right photo), partner with Bull Realty, has brokered the sale of most of a city block in Midtown Atlanta that includes famed architect I. M. Pei’s first office building, located at 131 Ponce de Leon Ave. 

The 2.5-acre site — bound by Ponce De Leon Avenue, North Avenue, Piedmont Avenue and Juniper Street — sold for $6.5 million on Aug. 3, 2012. The sale includes the entire block except for St Paul’s church, which was once home to the well-known Abbey restaurant.

The buyer is a joint venture between Sereo Group and Faison Enterprises Inc. According to submissions to a Midtown Development Review Committee meeting in July, the firms plan to develop a new mixed-use project that will include 321 luxury apartments and 8,600 square feet of retail space.

Latshaw represented the seller, developer Thirty Third Latitude Properties.

“There was tremendous interest with 10 competing offers,” said Michael Bull (lower left photo), president of Bull Realty and host of the Commercial Real Estate Show.

 “The lenders, United Bank and Synovus Bank, were able to maximize their recovery by cooperating with the original developer to market the property. When you add the cost of demolition to the just-over-$59-per-square-foot land price, it’s a good sign for the commercial real estate recovery.”

The site had been entitled for a 1.4 million-square-foot mixed-use development. The video on Bull Realty’s web site provides an interesting look at the previous developer’s original plans for the property.

Latshaw is particularly excited about the new buyer’s plans to tie the old to the new. “The concept not only preserves the façade of the Pei building, but makes it a centerpiece of the design and celebrates Pei’s architecture and legacy,” Latshaw said.

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

Stephen Ursery

Wilbert News Strategies

E-mail: sursery@wnspr.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com

  

daniel@bullrealty.com

Marcus & Millichap Announces Sale of 16-Unit Apartment Building in Clearwater, FL for $610,000

   

CLEARWATER, FL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of 810 Belleair Road, a 16-unit apartment property located in Clearwater, Florida, according to Richard D. Matricaria, Regional Manager of the firm’s Tampa office. The asset commanded a sales price of $610,000.

Nicholas Meoli (top right photo) multifamily specialist, Francesco P. Carriera (middle left photo) and Michael P. Regan,  vice presidents investments in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. 

The buyer, a private investor, was secured and also represented by Nicholas Meoli, Francesco P. Carriera and Michael P. Regan.

The property, at 810 Belleair Road, is located in the heart of Pinellas County just four miles east of U.S. Highway 19, the major north/south artery in the county.  It is just a short drive from some of the nation’s top beaches and from the Gateway Business District.  

The buildings are comprised of a mix of studio, one bedroom and two bedroom units.   “This transaction indicates yet another out-of-state investor foreseeing long term appreciation and rent growth in the Tampa Bay Area” comments Meoli.

Press Contact:

 Richard D. Matricaria

Regional Manager, Tampa

(813) 387-4700

U.S. Foreclosure Activity Decreases 3% in July, RealtyTrac® Reports

IRVINE, CA — RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its U.S. Foreclosure Market Report™ for July 2012, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 191,925 U.S. properties in July, a decrease of 3 percent from the previous month and a decrease of 10 percent from July 2011.

The report also shows one in every 686 U.S. housing units with a foreclosure filing during the month.

  

“U.S. foreclosure activity continued its uneven descent in July as the overall numbers declined on an annual basis for the 22nd straight month, but properties starting the foreclosure process increased on an annual basis for the third straight month,” said Daren Blomquist (top right photo), Vice President of RealtyTrac.

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

Christine Stricker

949.502.8300, ext. 268

christine.stricker@realtytrac.com

Order Custom Data:

Data Sales Department

800.913.0439

datasales@realtytrac.com

DoubleTree by Hilton Unveils Plan for First Hotel in Liverpool, United Kingdom

 

MCLEAN, Va. – August 9, 2012 – Hilton Worldwide  announced it has signed a franchise agreement with Municipal Annex Limited to open the first DoubleTree by Hilton in Liverpool, U.K.

The 87-room DoubleTree by Hilton Liverpool will join the brand’s rapidly growing portfolio of upscale, full service hotels, including recently added properties in locations such as Leeds, Manchester and London.

Sanguine Hospitality has been named to manage the DoubleTree by Hilton Liverpool on behalf of the property’s owner, Municipal Annex Limited.

“The Liverpool market remains one of the most active development centers in the U.K. for Hilton Worldwide, already home to our upscale Hilton and economy Hampton by Hilton brands,” said Rob Palleschi (top right photo), global head, DoubleTree by Hilton.

“With nearly 60 DoubleTree by Hilton hotels either open or under development, Europe remains a target development market for the brand,” said Patrick Fitzgibbon (lower right photo), senior vice president, development, Europe & Africa, Hilton Worldwide.

The hotel is expected to open in summer 2013 in the city’s former Municipal Annexe (middle  left photo)  on the corner of Sir Thomas and Dale Street. Constructed in 1865, the English Heritage Grade II-listed building will retain much of its original grandeur.  Hotel amenities will include a restaurant, residents’ lounge, spa and swimming pool, as well as conference and events facilities.

 To find out information about any DoubleTree by Hilton hotel, travellers may visit our website at www.DoubleTree.com or contact their preferred travel professional. Social media users may connect with us at www.facebook.com/doubletree

 www.twitter.com/doubletree

 www.youtube.com/doubletreehotels

.For the latest news, story starters and fact sheets about our brand, reporters and bloggers may visit our DoubleTree by Hilton Global Media Centre at www.doubletreebyhiltonglobalmediacenter.com.

Connect with Hilton Worldwide at

www.facebook.com/hiltonworldwide,

 www.twitter.com/hiltonworldwide,

www.youtube.com/hiltonworldwide,

 www.flickr.com/hiltonworldwide  

www.linkedin.com/company/hilton-worldwide.

www.hiltonworldwide.com

.

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

Maggie Giddens

Hilton Worldwide

+1 703 883 5346

Maggie.giddens@hilton.com

Chris Daly

Daly Gray, Inc.

+1 703 435 6293

chris@dalygray.com

Cousins Signs Atlanta Life Financial Group at One Ninety One Peachtree Tower in Atlanta, GA

                        

 Atlanta, GA – Cousins Properties Incorporated (NYSE: CUZ) has signed a 33,137-square-foot lease with Atlanta Life Financial Group (ALFG) at One Ninety One Peachtree Tower (top left photo). 

Michael Tabb of Red Rock Global and Pete Shelton of Colliers International represented Atlanta Life in the transaction. 

Atlanta Life Financial Group is a 107 year-old, a privately-owned financial services company that helps consumers, businesses and communities build and protect wealth. 

ALFG will relocate its Atlanta headquarters to the 25th and 26th floors of One Ninety One Peachtree Tower in November 2012. 

"ALFG’s Board, management team and employees are all very excited about the company’s return to Peachtree Street and relocating our headquarters to One Ninety One Peachtree Tower," said William J. Taggart,(middle right photo) President and CEO of Atlanta Life.  Atlanta Life’s founder Alonzo Herndon started his first successful business enterprise at 66 Peachtree Street over a century ago.

 The move will relocate the Atlanta-based firm just a few blocks from their existing space in downtown Atlanta.

"We have greatly enjoyed our 32 years at our current headquarters and cherish the great memories and history of Auburn Avenue,” said Taggart.

“After assessing various options, the opportunity to move to One Ninety One Peachtree was simply too good to pass up. Cousins is a world-class organization and One Ninety One Peachtree is one of the finest buildings in Atlanta and the Southeast."  

One Ninety One Peachtree Tower is a 50-story, 1.2 million-square-foot tower of Class A office space, retail, and restaurant space located at 191 Peachtree Street in downtown Atlanta.

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

Cameron Golden

Vice President

Investor Relations/Corporate Communications

(404) 407-1984

camerongolden@cousinsproperties.com

Web site address:  www.cousinsproperties.com

                  

Tina Theriault

JACKSON SPALDING

Image Creation, Cultivation and Communication

P 404.214.2199

C 678.523.5857

E ttheriault@jacksonspalding.com

www.jacksonspalding.com

HFF arranges $10.2 million financing for Class A office in Carlsbad, CA

  

IRVINE, CA – HFF announced it has arranged a $10.2 million financing for a 75,160-square-foot, Class A office building in Carlsbad, California.

HFF worked exclusively on behalf of Mararisk Carlsbad, LLC to secure the 10-year, 3.66 percent fixed-rate loan through one of their life company relationships.

The building is located at 5791 Van Allen Way (top left photo),  approximately two miles north of McClellan-Palomar Airport in Carlsbad.  Built in 1999, the property is 100 percent occupied on a triple net lease basis to Life Technologies.  

The HFF team representing Mararisk Carlsbad, LLC was led by managing director David Bleiweiss (lower right photo) and director John Chun.

  

Contacts:

DAVID BLEIWEISS                                     

HFF Managing Director                            

(949) 253-8800                                         

dbleiweiss@hfflp.com                              

JOHN CHUN                                       

HFF Director                                      

(949) 253-8800                                 

jchun@hfflp.com                             

 OLIVIA N. HENNESSEY

HFF Associate, Marketing              

(713) 852-3500               

ohennessey@hfflp.com

HFF arranges $11 million financing for Warehouse Central in Denver, CO

 IRVINE, CA – HFF announced it has arranged an $11 million financing for Warehouse Central (top left photo) a 325,858-square-foot industrial building in Denver, Colorado.

HFF worked on behalf of IBC Holdings to secure the five-year, fixed-rate loan through a national life company.  HFF will also service the loan.

The property is located at 2300-2550 West 5th Avenue near the Grand Army of the Republic Highway and Interstate 25 interchange.  The property is 91 percent leased and includes approximately 10 percent office space.

The HFF team representing the borrower was led by senior managing director Kevin Mackenzie (middle right photo) and director Josh Simon (lower left photo).

“The lender displayed an excellent understanding of the asset and provided a flexible loan structure that allowed the borrower to execute their business plan while maintaining an attractive cost of capital,” commented Mackenzie.

IBC Holdings, LLC is a commercial real estate firm that specializes in the acquisition, development and redevelopment of industrial and office properties in select U.S. markets.  IBC concentrates its research driven efforts in primary and some secondary cities. 

 Its market driven strategy is threefold;

•  Opportunistic acquisition of quality assets at a discount to replacement cost,
• Creating value from the repositioning of existing facilities, and
• Developing an inventory of general purpose industrial buildings.

Contacts:

KEVIN C. MACKENZIE 

 HFF Senior Managing Director                              

(949) 253-8800                                                      

kmackenzie@hfflp.com                                         

OLIVIA N. HENNESSEY

HFF Associate, Marketing              

(713) 852-3500               

ohennessey@hfflp.com

HFF closes $55.5 million sale of a five-property grocery-anchored retail portfolio in Florida

  

MIAMI, FL – HFF announced today that it has closed the sale of a five-property grocery-anchored retail portfolio totaling 333,615 square feet in northern and central Florida.

HFF marketed the properties on behalf of the seller, EDENS.  H&R REIT purchased the portfolio for $55.5 million.

Property details are listed below:

• Corridors at Ponte Vedra, The Fresh Market anchor, 52,959 SF, 89.5% occupied, Jacksonville, FL
• Mandarin Oaks, Publix anchor, 56,700 SF, 97.2% occupied, Jacksonville, FL
• First Merritt Center, Publix anchor, 88,316 SF, 91.0% occupied, Merritt Island, FL
• Publix at Holly Hill, Publix anchor, 57,870 SF, 97.8% occupied, Holly Hill, FL
• Publix at Summer Bay, Publix anchor, 77,770 SF, 93.8%, Clermont, FL

 

 The HFF investment sales team representing the seller was led by senior managing directors Danny Finkle (top right photo) and Brad Peterson (middle left photo), director Luis Castillo (lower right photo) and real estate analyst Rob Saracco. 

Within the past 90 days, HFF has capitalized more than $325 million of retail transactions in Florida.

Contacts:

DANIEL FINKLE                                   

HFF Senior Managing Director               

(305) 448-1333                                          

dfinkle@hfflp.com                                  

LUIS CASTILLO                        

HFF Director                              

(305) 448-1333                             

lcastillo@hfflp.com                     

  

OLIVIA N. HENNESSEY

HFF Associate, Marketing              

(713) 852-3500               

ohennessey@hfflp.com

$75 million sale of 200 West Monroe in Chicago’s West Loop closed by HFF

CHICAGO, IL – HFF announced  it has closed the sale of 200 West Monroe (top left photo), a 535,900-square-foot office building in Chicago.

HFF marketed the property on behalf of a national private investment firm.  A joint venture comprised of Lubert Adler and The Farbman Group purchased the property for $75 million.

200 West Monroe is located at the northwest corner of the intersection of West Monroe and South Wells in the West Loop district of Chicago. 

Renovated in 2006, the 23-story property is currently 80 percent occupied.  The property also includes 113,354 square feet of separately-owned space that is occupied by an affiliate of the Jewish Federation of Metropolitan Chicago.

 



The HFF investment sales team representing the seller was led by senior managing directors Jeff Bramson (middle right photo) and Jaime Fink (lower left photo) and director Mark Katz. 

Lubert-Adler is a real estate investment company co-founded by Ira Lubert and Dean Adler in March 1997.  Messrs. Lubert and Adler collectively have more than 50 years of experience in underwriting, acquiring, repositioning, refinancing and exiting real estate assets. 

For more information, visit www.lubertadler.com. 

 

Based in Detroit, The Farbman Group is one of the largest and most respected full-service commercial real estate organizations in the country. 

With more than three decades of experience, the firm offers a wide range of customized real estate services including brokerage, property management, development, construction and tenant services. 

For more information, visit www.farbman.com

.

Contacts:

JEFFREY M. BRAMSON                           

HFF Senior Managing Director             

  (312) 528-3650                                       

bramson@hfflp.com                            

JAIME F. FINK                                       

HFF Senior Managing Director       

(312) 528-3650                                   

jfink@hfflp.com                                

OLIVIA N. HENNESSEY

HFF Associate, Marketing              

(713) 852-3500               

ohennessey@hfflp.com