Faris Lee Investments Completes $6.72 Million Sale of Multi-Tenant Retail Property Within Aliso Viejo Town Center in Aliso Viejo, CA

  

26731 Aliso Creek Road, Aliso Viejo, CA

 IRVINE, Calif., March 19, 2013 – Faris Lee Investments, the nation’s largest retail-specialized investment advisory firm, has completed the $6,725,000 sale of a two-story, 16,840-square-foot, free-standing retail building located at 26731 Aliso Creek Road in Aliso Viejo.

Built in 1999, the property is 93 percent occupied by several tenants with the largest being Stadium Brewing Company. 

  It is situated on just over one-acre of land and is located at the heart of the Aliso Viejo Town Center, a 700,000-square-foot regional shopping center, and one of the most dominant retail developments in Orange County.

Dennis Vaccaro

                Dennis Vaccaro and Christopher Tramontano of Faris Lee Investments represented the seller, Novato, Calif.-based Aliso Viejo Investors, LLC, as well as the buyer, Los Angeles-based Aliso Viejo Town Center, LLC.

                “The property was only on the market for three days before we secured a buyer,” said Vaccaro, senior managing director with Faris Lee Investments.

“The buyer had been seeking a property like this in the immediate area for several years. Properties within Aliso Viejo Town Center don’t go on the market very often; as the assets within it are seen as insulated, secure investments with minimal future competing development in the area.

Christopher
Tramontano

“The Aliso Viejo retail trade area is underserved as the community’s master plan has limited retail development, which has subsequently kept lease rates higher than average and vacancy levels lower than average compared to other Orange County locations.”

                Aliso Viejo Town Center is located in the heart of Aliso Viejo and is the main shopping destination for the city’s residents. Major retail anchors at the center include Lowe’s, Ralphs Fresh Fare, Trader Joe’s, a 20-screen Regal Theatre, Michaels, T.J. Maxx, PetSmart, Barnes & Noble and others. The master-planned community of Aliso Viejo is located in South Orange County about four miles northeast of the Pacific Ocean.

  

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

Darcie Giacchetto,

949.278.6224

Spaulding Thompson & Associates

For Faris Lee Investments

Signs of Life: Experts on “Commercial Real Estate Show” Say Development Activity Finally Beginning to Pick Up

Michael Bull in studio

ATLANTA, GA – After years in a deep freeze, both the single-family and commercial development markets are showing some signs of a long-anticipated thaw.

 That was one of the observations of a panel of real-estate experts on the most recent episode of the “Commercial Real Estate Show” radio program, hosted by Michael Bull of Bull Realty. The show provided an enlightening look at the land and development market; topics included home-sale trends, commercial zoning tips and construction costs.

Brad Hunter

Some markets such as Phoenix and Las Vegas have experienced whopping 60 percent increases in single-family construction starts over the past year, and sales of existing homes are beginning to pick up velocity across the nation, particularly in close-in submarkets, said Brad Hunter, chief economist with MetroStudy.

 As single-family-home construction begins to ramp up, the supply of developed lots is declining, Hunter added. “Nationwide, you’ll see that there’s a 55-month supply of vacant, developed lots, but there’s only a 15- to 18-month supply in” certain submarkets in the Atlanta, Phoenix and South Florida areas, he said. “We have a very tight supply of lots [in those areas], and prices are going up very sharply as a result.”

Stephanie J. Toothaker

These trends will continue in the months ahead, Hunter predicted. “I think there’s going to be increased home construction, increased home sales and increased prices throughout 2013,” he said.

 Commercial development is picking up steam as well, according to show guests. “It’s no secret that during the downturn, development was completely dead … Planning and zoning boards weren’t even meeting because there was nothing on the agenda,” said commercial real estate attorney Stephanie Toothaker, a director with the Fort Lauderdale, Fla.-based Tripp Scott law firm.

 However, Toothaker and Michael Kaufman, CEO of Boca Raton, Fla.-based Kaufman Lynn Construction, both said they’ve recently seen an increase in rezoning applications for and the new construction of a variety of property types, including apartments, hotels, seniors housing and even country clubs.

Michael Kaufman

Despite the dramatically slower pace of new construction compared to the boom years just before the recession, construction costs continue to rise, Kaufman noted. The increase stems in part from the rising costs of commodities such as steel and PVC, and also from the higher wages contractors must pay to employees because of the smaller supply of construction workers. “We’re going to see construction costs continuing to rise,” Kaufman said.

 Even though real estate activity is beginning to quicken, lenders still remain cautious, Toothaker and Kaufman added.

 “From a development perspective, what my clients complain about is not that financing isn’t available,” Toothaker said. “It’s that the terms are not acceptable or that the banks will only lend on something that they perceive as a completely safe deal.”

The entire episode on the U.S. land and development market is available for download at www.CREshow.com. The next “Commercial Real Estate Show” will be available March 21 and will provide a detailed examination of commercial real estate auctions.

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

Stephen Ursery

The Wilbert Group

E-mail: sursery@thewilbertgroup.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.thewilbertgroup.com

Griffin-American Healthcare REIT II Reports Fourth Quarter and Year End 2012 Results

.

Jeff Hanson

NEWPORT BEACH, CA– Griffin-American Healthcare REIT II, Inc. today announced operating results for the company’s fourth quarter and year ended Dec. 31, 2012. 

 “Griffin-American Healthcare REIT II enjoyed another year of tremendous growth and impressive accomplishments in 2012,” said Jeff Hanson, chairman and chief executive officer.

 “Not only did our nationwide portfolio of healthcare-related real estate more than triple in size based on aggregate purchase price compared to 2011, but as a result, important financial metrics also grew exponentially.

“ Normalized modified funds from operations and net operating income, for example, experienced growth of approximately 180 percent and 148 percent, respectively, as compared to 2011 due to our significant acquisition activity.

“ In addition, the company increased its investor distribution rate twice during 2012, from an annualized $0.65 per share to an annualized $0.66 per share in January and to an annualized $0.68 per share in November.”

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

Damon Elder

Senior VP, Marketing & Communications

American Healthcare Investors

4000 MacArthur Boulevard

West Tower, Suite 200

Newport Beach, CA 92660

(949) 270-9207 direct

(714) 356-1460 cell

delder@ahinvestors.com

www.AmericanHealthcareInvestors.com

HFF closes sale and arranges $14.5 million acquisition financing for Class A office building in Dallas, TX

2626 Cole, Dallas, TX

DALLAS, TX – HFF announced today that it has closed the sale of  2626 Cole, a 120,599-square-foot, Class A office building in Dallas’ Uptown/Turtle Creek submarket on behalf of an institutional advisor for an undisclosed amount. 

HFF also worked on behalf of the buyer, Beacon Investment Properties, to arrange a $14.5 million acquisition loan through Morgan Stanley Mortgage Capital, Inc. 

                 2626 Cole is situated on 1.44 acres along Cole Avenue in Uptown Dallas, east of Cedar Springs Road immediately north of downtown.  The nine-story, Class A property is 96 percent leased to tenants such as Leadership Network, Neopolitan, TPF Gas and Red Car.  

Beacon Investment Properties, LLC is a real estate investment manager and operator concentrating primarily on core-plus and value-add office properties in large MSAs in Texas and the eastern seaboard of the United States. 

 Beacon has six million square feet under management and has sponsored five close-end investment funds, as well as separate accounts with life insurance companies.  www.beaconri.com.

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

Kristen M. Murphy

Associate Director

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

krmurphy@hfflp.com

HFF secures first mortgage financing for two industrial assets in northern New Jersey

9-15 Riverside Drive, Pine Brook, NJ

FLORHAM PARK, NJ – HFF announced today that it has secured first mortgage financing for 9-11 Chapin Road and 9-15 Riverside Drive, two industrial assets totaling 156,835 square feet in Pine Brook, New Jersey.

                Working exclusively on behalf of The Frassetto Companies, Inc., HFF placed the 10-year, fixed-rate loan with a local community bank.

                9-11 Chapin Road and 9-15 Riverside Drive are located off Route 46 near the intersection of Interstates 80 and 287 in the northeastern portion of Morris County, New Jersey.  The properties are fully leased to multiple tenants.

Michael Klein

The HFF team representing The Frassetto Companies, Inc. was led by director Michael Klein and senior managing director Tom Didio.

                “Local banks in the northern New Jersey market continue to be extremely competitive on pricing, proceeds and structure for industrial transactions,” said Klein.  “In this instance the bank stacked up quite favorably against life insurance companies and CMBS providers and was awarded the deal accordingly.”

Thomas Didio

 The Frassetto Companies, Inc. is a family-owned and operated full-service commercial real estate firm that specializes in the acquisition, development and management of commercial real estate properties.  

The Bergen County, New Jersey-based company currently owns and operates over two million square feet of commercial space throughout the New Jersey/New York metropolitan region.

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

Kristen M. Murphy

Associate Director

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

krmurphy@hfflp.com

HFF arranges $250 million financing for three-property Omni Hotel portfolio

Omni Fort Worth, Fort Worth, TX

 DALLAS, TX – HFF announced today that it has arranged $250 million in financing for three Omni Hotels totaling 1,339 guest rooms located in Texas and Illinois.

HFF worked on behalf of the borrower, Omni Hotels Corporation, to secure the 15-year, fixed-rate loan through Prudential Mortgage Capital Company.

Individual property details are listed below:

Omni Fort Worth, 1300 Houston Street, Fort Worth, TX, 614 Rooms

Omni Houston, 4 Riverway, Houston, TX, 378 Rooms

Omni Chicago. 676 North Michigan Avenue, Chicago, IL,347 Rooms

Whitaker Johnson

The HFF team representing the borrower was led by senior managing director Whitaker Johnson, managing director John Bourret and associate director Jim Curtin.

                Omni Hotels Corporation is a subsidiary of TRT Holdings, a privately-owned, diversified holding company located in Irving, Texas.  Assets include Omni Hotels & Resorts, Gold's Gym International, Tana Exploration and numerous investments in public companies and various real estate ventures.  

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

Kristen M. Murphy

Associate Director

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

krmurphy@hfflp.com

Trump SoHo New York Creates Rotating Art Gallery in Partnership with Indiewalls

Duplex Penthouse, Astor Place
New York City

NEW YORK, NY – Trump SoHo New York and Indiewalls, an e-commerce art website, announce a partnership to enhance the hotel’s luxurious two-story Duplex Penthouse.

Vibrant pieces from up-and-coming local New York City-based artists have been unveiled to outfit the walls of the hotel’s largest penthouse. From celebrity-inspired paintings to post-modern montages, the curated artwork will operate as a rotating gallery.

The premiere exhibition, which includes works by Max Gleason, Jeremy Penn, Lee Everett, and Robert Herman, are on display for Duplex Penthouse guests from now through summer 2013.

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

Hwee Peng Yeo

Director of Asian Markets

Glodow Nead Communications

Level 21, Centennial Tower

3 Temasek Avenue

Singapore 039190

Glodow Nead Communications • San Francisco • New York • Singapore

O: 65.9768.6087 or 1.415.394.6500 • E hweepeng@glodownead.com • FB: GlodowNead

ZipRealty to Participate in William Blair Real Estate Services & Technology Symposium

Lanny Baker

EMERYVILLE, CA, March 19, 2013 – ZipRealty, Inc. (http://www.ziprealty.com) (NASDAQ: ZIPR), the most prominent online real estate brokerage company and technology provider in the United States, today announced that it will participate in the William Blair Real Estate Services & Technology Symposium on Thursday, March 21.

Eric Mersch

Chief Executive Officer and President Lanny Baker, and Chief Financial Officer Eric Mersch, will participate in the fireside chat presentation by ZipRealty, Inc., which is scheduled to begin at 10:00 a.m. PST. The second annual conference will be held at the Le Meridien San Francisco Hotel.

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

Stacey Corso

Public Relations Manager

ZipRealty, Inc.

Office: 510.735.2667

Cell: 415.672.6460

www.ziprealty.com

Follow us on Twitter: @ZipRealty

Berger Commercial Realty Broker Closes Four Sales in Florida

  

Judy Dolan

 FORT LAUDERDALE, FL (March 19, 2013) - Berger Commercial Realty, a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced four new sales from broker Judy Dolan.

Dolan represented Waterfall Victoria REO 2010-02, LLC in the sale of 6,430 square feet of office space, located at 7635 Ashley Park Court in Orlando, to Winchester Holdings for $519,400. The property will be utilized as executive suites.

 She also represented Waterfall Victoria Mortgage Trust 2011-SBC1 REO, LLC in the sale of a 8,899-square-foot former daycare center, located at 1720 11th St. W. in Bradenton, for $330,000 to JMC 2006 Trust.

7635 Ashley Park Court, Orlando, FL

Additionally, Dolan represented Waterfall Victoria Mortgage Trust 2010-SBCI REO, LLC in a cash deal of $180,000 for the sale of 2,307 square feet of office space, located at 2295 S. Hiawassee Court in Orlando, to Vegas Place, LLC, and in the sale of a 12,402-square-foot, vacant retail and office center, located in Clearwater Beach, to 527-521 Cleveland, LLC for $550,000.

Contact: 

Marielle Sologuren

Pierson Grant Public Relations

msologuren@piersongrant.com

(954) 776-1999, ext. 226

Cuhaci & Peterson Architects awarded contracts to design three Ale House Restaurants

ORLANDO, FL--- Cuhaci & Peterson Architects, Engineers Planners based in Baldwin Park was awarded contracts to design three Ale House restaurants -- in Winter Park, Queens, N.Y. and the Philadelphia area.

Lonnie Peterson, chairman of Cuhaci & Peterson, said the restaurants average 10,000 square feet each and are located on Lee Rd. and Hwy. 17-92 in Winter Park, in the Rego Park neighborhood of Queens N.Y. and in the Philadelphia suburb of Springfield, Pa.

Contact:

Lonnie Peterson, Chairman Cuhaci & Peterson Architects, LLC, 407-661-9100;  

Jed Downs, President Cuhaci & Peterson Architects, LLC, 407-661-9100;  

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

NAI Realvest Negotiates Renewal Lease at Wekiva Center in Apopka, FL

Tom R. Kelley II

MAITLAND, FL--- NAI Realvest recently completed a renewal lease agreement for 3,360 square feet of office space at Wekiva Center, 1706 E. Semoran Blvd. near the intersection of U.S. 441 in Apopka.

 Tom R. Kelley II, CCIM, principal at NAI Realvest, brokered the transaction on behalf of the landlord, Wekiva Center Partnership based in Maitland.  The tenant is CORA Health Services, Inc. 

Contact:

Tom R. Kelley, II CCIM, Principal, NAI Realvest, 407-875-9989 Tkelley@realvest.com;   

Robin L. Webb, CCIM, CHA, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest, 407-875-9989 Rwebb@realvest.com

Patrick Mahoney, President, NAI Realvest, 407-875-9989 pmahoney@realvest.com;

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142 

Cuhaci & Peterson Architects completes remodeling design for Winn-Dixie in Fort Lauderdale, FL

ORLANDO, FL --- Cuhaci & Peterson Architects Engineers Planners recently completed design work for remodeling of the Winn-Dixie grocery store on N. Ocean Blvd. in Ft. Lauderdale.

Lonnie Peterson, chairman of Cuhaci & Peterson, said the remodeling project totals 35,000 square feet and construction is to start soon. 

Contact  

Lonnie Peterson, Chairman Cuhaci & Peterson Architects, LLC, 407-661-9100;  

Jed Downs, President Cuhaci & Peterson Architects, LLC, 407-661-9100;  

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

Arbor Funds $27.3M in Midwestern Fannie Mae Multifamily Transactions

Michael Jehle

UNIONDALE, NY (March 19, 2013) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, and a national, direct commercial real estate lender, announced the recent funding of seven loans totaling $27,265,500 across Iowa, Wisconsin and Michigan under the Fannie Mae Delegated Underwriting & Servicing (DUS®) Loan, Fannie Mae DUS® Small Loan, Fannie Mae DUS® Affordable Housing and Fannie Mae DUS® Dedicated Student Housing product lines. These loans include:

·         Stoney Creek Village Apartments, Shelby Township, MI – This 240-unit multifamily property received $10,850,000 funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. Stoney Creek is conveniently located only 30 miles outside north of Detroit.

Stoney Creek Village
 Apartments
Shelby Township, MI

·         Waterbury Place Apartments and 787 Burcham Apartments, East Lansing, MI– This 50-unit multifamily property received $5,865,000 funded under the Fannie Mae DUS® Dedicated Student Housing product line. The 10-year refinance loan amortizes on a 30-year schedule. Both Waterbury Place and 787 Burcham are occupied exclusively by students of Michigan State University.

·         Aspen Village Apartments, Holt, MI – This 40-unit multifamily property received $4,500,000 funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. Each apartment unit at Aspen Village includes concrete patios or private wood-framed balconies.

Tower Place Apartments
Hudson, WI

·         Tower Place Apartments, Hudson, WI – This 32-unit multifamily property received $2,450,500 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. Tower Place is situated in an area with a mix of multifamily, single-family and industrial properties as well as schools, parks and good access to the major roadways and the greater Minneapolis-St. Paul area.

·         Maquoketa Park, Maquoketa, IA – This 56-unit multifamily property received $1,185,000 funded under the Fannie Mae DUS® Affordable Housing Loan product line. The 10-year refinance loan amortizes on a 25-year schedule. Common amenities at Maquoketa Park include multiple playground areas, a basketball court and laundry facilities.

Vinton Park Apartments
Vinton, IA

·         Vinton Park, Vinton, IA – This 72-unit multifamily property received $1,537,500 funded under the Fannie Mae DUS® Affordable Housing Loan product line. The 10-year refinance loan amortizes on a 25-year schedule. Common amenities at Vinton Park include multiple playground areas, a basketball court and laundry facilities.

·         Strawberry Hill, Anamosa, IA – This 40-unit multifamily property received $877,500 funded under the Fannie Mae DUS® Affordable Housing Loan product line. The 10-year refinance loan amortizes on a 25-year schedule. Common amenities at Strawberry Hill include a playground area, a basketball court and a laundry facility.

Strawberry Hill Apartments
Anamosa, IA

All of the loans were originated by Mike Jehle, Midwest Regional Director in Arbor’s Bloomfield Hills, MI, office.

“Arbor prides itself on providing creative and diverse solutions to meet and exceed the specific needs and expectations of its customers,” Jehle said.

 “This group of loans, located throughout the Midwestern United States, is evidence of not only Arbor’s market-leading presence, but ability to uniquely customize financial solutions wherever our clients do business.”

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

Christopher Ostrowski

costrowski@arbor.com

Nine Florida Apartment Units Sell for $370,150

Michael P. Regan

DUNEDIN, FL,  March 18, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of James Street Apartments, a nine unit apartment community located in Dunedin, Florida, according to Richard D. Matricaria, Regional Manager of the firm’s Tampa office.

 The asset commanded a sales price of $370,150.

Michael P. Regan and Francesco P. Carriera, vice president investments and James Vestal, investment specialist in Marcus & Millichap’s Tampa office, represented both the seller and the buyer, private investors based in Florida.

Francesco P.
Carriera

Built in 1959, James Street Apartments is located at 442 James Street in Dunedin, Florida.  The property is located within walking distance of downtown Dunedin and is situated in a Class “A” rental market. James Street Apartments consists of three, one and two-story buildings situated on approximately a .56-acre parcel of land.

 All units have individual air-conditioning.  Amenities include an on-site laundry facility and ample on-site parking.

“This transaction represents the waning supply of distressed assets on the market,” says Vestal.  “As we head into a more normalized market, opportunities like this will become fewer and farther between and I think the buyers really recognized that.”

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

Richard D. Matricaria

Regional Manager,

Tampa

(813) 387-4700

Marcus & Millichap Capital Corp. Announces Top 10 Originators of 2012

NEWPORT BEACH, CA, March 18, 2013 – Marcus & Millichap Capital Corporation (MMCC) has named its top 10 loan originators of 2012, according to William E. Hughes, MMCC’s senior vice president and managing director.

“It gives me great pleasure to recognize the firm’s 2012 top 10 loan originators,” says Hughes. “The high level of performance they have achieved is a direct result of their commitment to providing superior debt and equity advisory services to clients.”

MMCC’s top 2012 loan originators in descending order by rank are:

·         Danny Abergel, vice president capital markets, Encino, Calif.

·         Sharone Sabar, vice president capital markets, Encino, Calif.

·         Jake Roberts, vice president capital markets, West Los Angeles, Calif.

·         Michael Derk, vice president capital markets, Long Beach, Calif.

·         Glenn Gioseffi, senior director, Seattle, Wash.

·         Farhan Kabani, director, Dallas, Texas

·         Chad O’Connor, vice president capital markets, San Diego, Calif.

·         Anita Paryani Rice, vice president capital market, West Los Angeles, Calif.

·         Dean Giannakopoulos, associate director, Chicago

·         James Conley, director, Philadelphia

            “We closed more than 900 transactions and arranged more than $2.2 billion in loan volume last year,” adds Hughes. “Given the current outlook for commercial real estate finance, we expect 2013 to be a banner year for our clients with originations exceeding 2012’s volume by 20 percent or more.”

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

Ben Johnson,

Marketing Director

(925) 953-1736