HFF closes $24.25 million sale of Newark, New NJ multi-housing community

Mount Prospect Tower Apartments, 380 and 420 Mount Prospect Avenue,
Forest Hill Section, Newark, NJ

Jose Cruz

FLORHAM PARK, NJ – HFF announced it has closed the sale of Mount Prospect Towers, two 15-story multi-housing towers totaling 219 units in Newark, New Jersey.

               HFF represented the sellers, Praedium Group and KABR Group, in this transaction.  Azure Partners purchased the asset for $24.25 million or $111,000 per unit. 

                Mount Prospect Towers is located at 380 and 420 Mount Prospect Avenue in the Forest Hill section of Newark, and is approximately 25 minutes from Manhattan via the Holland Tunnel.

 The 96 percent leased property is comprised of  studio, one-, two- and three-bedroom units that are undergoing renovations with updated kitchens, baths and flooring.

 Both buildings were also recently improved with new building systems, roofs and common areas.  Community amenities include 24/7 doorman security and on-site indoor and outdoor parking.

Andrew Scandalios

               The HFF investment sales team representing the sellers was led by senior managing directors Jose Cruz and Andrew Scandalios, managing directors Kevin O’Hearn and Jeffrey Julien and associate director Michael Oliver.

               “The properties are well positioned near local demand drivers such as Saint Michael’s Medical Center, Newark Beth Israel Medical Center, Seton Hall and Rutgers University,” said Cruz. 

               “The Praedium Group and KABR Group have done a tremendous job in restoring and revitalizing Mount Prospect Towers and has put Azure Partners in an exceptional position for continued future success,” added Oliver.

Kevin O'Hearn

The Praedium Group is a privately-held real estate investment firm focusing on under-performing and under-valued assets throughout the United States. 

The Praedium Group was formed in 1991 and since inception has completed over 350 transactions representing $9.3 billion of capital, including 70,000 multifamily units and 43.3 million square feet of commercial space. 

Over the past 23 years, The Praedium Group has sponsored a series of private equity funds. 

The commingled funds by The Praedium Group have attracted investors that include public and corporate pension funds, financial institutions, insurance companies, foundations and endowments.  For more information, please visit www.praediumgroup.com

Jeffrey Julien

Headquartered in Ridgefield Park, NJ, the KABR Group was founded in 2008.  The first two funds sponsored by the KABR Group raised approximately $45,000,000 each.

 The initial fund was launched at the end of 2008 as a response to the impending real estate crisis.  The KABR Group has opportunistically acquired select real estate assets through the market cycle bottom.

It has achieved success from its ability to identify, purchase and manage properties from highly motivated sellers at discounts to their intrinsic value.

KABR targets returns in excess of 18%. Unencumbered by the typical “market peak” purchases, KABR employs a fresh balance sheet to acquire and work through distressed, mismanaged and over-leveraged properties.

Azure Partners LLC (Azure) is a real estate private equity firm based in New York City focused on the opportunistic acquisition and management of real estate assets within high-growth markets in the United States. 

Michael Oliver

Since its founding in 2010, Azure has acquired in excess of $400,000,000 of real estate in the multi-family and retail sectors.

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

HFF closes $42.8 million sale of development site in Midtown Manhattan

Manhattan, NY development site, 140 West 28th Street

Andrew Scandalios

NEW YORK, NY – HFF announced it has closed the sale of 140 West 28th Street, an approximately 7,538-square-foot, mid-block development site in the Chelsea neighborhood of Manhattan.

               HFF marketed the development site exclusively on behalf of the seller, Sovereign Partners, LLC.  The purchase price of the site was $42.8 million.

               The development site is located at 140-144 West 28th Street between 6th and 7th Avenues close to the Chelsea High Line, Chelsea Piers, Hudson River Park, Herald Square and Penn Station.  

Jose Cruz

The property is zoned for a maximum of 144,876 square feet of development rights. 

               The HFF investment sales team representing the seller was led by senior managing directors Andrew Scandalios and Jose Cruz, managing directors Jeffrey Julien and Kevin O’Hearn and director KC Patel.

               Sovereign Partners is a privately held real estate investment organization that specializes in the acquisition of quality assets throughout the United States.

KC Patel

Sovereign’s real estate team draws on a deep knowledge of real estate fundamentals and capital markets to acquire properties throughout the country.

With interests in over six million square feet of property, Sovereign Partners has demonstrated its ability to identify and finance promising opportunities.

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

HFF closes sale of two power centers in Pensacola, FL

Cordova Commons shopping center, 1650-1680 Airport Boulevard, Pensacola, FL

Daniel Finkle

MIAMI, FL – HFF announced it has closed the sale of Cordova Commons and Tradewinds Shopping Center, two retail power centers totaling approximately 344,000 square feet in Pensacola, Florida.

               HFF marketed the properties on behalf of the seller, a joint venture between AEW Capital Management, L.P. and GMH Capital Partners, LP.  Cole Real Estate Investments, Inc. (“Cole”) purchased the centers for an undisclosed amount.

Tradewinds Shopping Center
6601 North Davis Highway,
Pensacola, FL

               Most recently renovated in 2012, Cordova Commons is located at 1650-1680 Airport Boulevard at the intersection of North 9th Avenue across from Pensacola State College, Cordova Mall and Sacred Heart Hospital. 

Situated on 11.9 acres, the 165,480-square-foot retail center is 100 percent leased to tenants including Marshalls, DSW, The Fresh Market, Ulta, Stein Mart and Petco.

Brad Peterson

               Tradewinds Shopping Center is located at 6601 North Davis Highway, less than one mile from Interstate 10.  The 178,554-square-foot center is situated on 19.15 acres and is occupied by tenants including TJ Maxx, Home Goods, Dollar General and Jo-Ann Fabrics. 

               The HFF team representing the seller was led by senior managing directors Danny Finkle and Brad Peterson, managing director Paul Stasaitis and director Luis Castillo.  Vice president of acquisitions Thomas Falatko represented Cole.

Paul Stasaitis

HFF has capitalized more than $4.3 billion in retail assets nationally through third quarter 2013.  The HFF Florida team has capitalized more than $476 million in retail transactions during this time.

Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide.  One of the world’s leading real estate investment advisors, AEW and its affiliates manage approximately $37 billion of capital invested in more than $50.8 billion of property and securities in North America, Europe and Asia (as of September 30, 2013). 

Luis Castillo

Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. 

AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Singapore, and Hong Kong, as well as additional offices in eight European cities.  For more information please visit www.aew.com.

Under the umbrella of parent company GMH Associates Inc., GMH Capital Partners is a revolutionary real estate investor and developer founded in 1985 by Gary Holloway, Sr., whose vision was to create an all-encompassing real estate entity that would eliminate the need for any third parties to manage or develop its properties. 

Thomas Falatko

Strategic thinking and diversified assets have made GMH Capital Partners a nationwide industry leader in commercial and multifamily investment and development.

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

Beech Street Capital and Multi Housing Advisors Form Agreement to provide Competitive Edge for Investors in Tight Southeast Markets

  

Grace Huebscher

BETHESDA, MD – Beech Street Capital, LLC, and Multi Housing Advisors, LLC (MHA) announced they have joined forces to provide multifamily investors with a competitive edge in their quest to successfully acquire apartment properties in tight Southeastern markets. 

Through the alliance, Beech Street Capital’s clients gain direct access to local broker intelligence, and MHA’s clients gain direct access to capital markets, providing a more efficient transaction process.

 “With the level of competition for attractive properties at record levels, there is a real need among investors for a single source of authoritative market, product, and capital intelligence,” says Marc Robinson, a managing  partner of MHA in the firm’s Charlotte, N.C., office.  “This agreement between Beech Street and MHA meets that need perfectly.”

 The objective of the agreement goes beyond intelligence and insight, however.  The goal is to help investors use that intelligence to identify desirable properties and, more importantly, to provide the well-integrated transactional and financial support investors need to seize these opportunities quickly.

Marc Robinson

 “Investors will be able to explore their financial options with the Beech Street team at the same time they are analyzing the variety of transactions that MHA generates to meet their requirements,” notes Grace Huebscher, president and CEO of Beech Street Capital. 

“As a result, when they find an apartment investment opportunity, they’ll be ideally positioned to bring potential acquisitions to closure more rapidly and with greater certainty by working with Beech Street to provide the best possible financial terms.”

MHA and Beech Street Capital bring complementary strengths to the table, yet as Chad Thomas Hagwood, Beech Street’s Executive Vice President for Originations, points out, the two firms share a common culture and common advantages. 

“Our two companies are both dedicated to going above and beyond for our customers — and share a commitment to responsiveness, speed, and efficiency,” Hagwood says.

Chad Thomas Hagwood

 Hagwood notes that fully integrated, full-service platforms are now becoming more common, but adds that the alliance between Beech Street and MHA represents an optimal alternative for investors interested in the Southeast because the two firms are so nimble and entrepreneurial-minded.

 Founded in 2002, MHA was established to bring a focused brokerage platform to growing markets throughout the Southeast. 

Since that time the company has developed a national client base and achieved a total sales volume of more than $2.6 billion, involving more than 80,000 units and more than 500 individual transactions throughout the Southeast and Texas. 

“The direct access to capital markets that Beech Street offers, as well as their intelligence and insight, will enable our clients to make more informed buy/sell/hold decisions and will position them to navigate the complex markets more efficiently,” Robinson says.

 With a national footprint of 10 offices around the country, including five in the Southeast and Texas, Beech Street provided $4.0 billion in multifamily financing in 2012, achieving a 100 percent annual growth rate for the last two years. 

The lender draws on its extensive relationships with Fannie Mae, Freddie Mac, FHA, and alternative funding sources, as well as its highly experienced staff, to achieve certainty of execution for its customers. 

“Our agreement with MHA provides our clients with a direct line to promising investment opportunities throughout the Southeast, thanks to MHA’s expert knowledge of local markets, its extensive research, and analytics,” Huebscher says. “At the same time, it positions both of our firms for additional growth in the Southeast, where each firm has become a force in multifamily transactions.”

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

Courtney Lewis

240-507-1948

clewis@beechstcap.com

  

www.usmha.com.

www.beechstcap.com

HFF closes sale of and arranges acquisition financing for 12-property office portfolio in Southern California

Kilroy 12-property office portfolio in Sorrento Mesa and Rancho Bernardo submarkets
of San Diego, CA

Nick Psyllos

SAN DIEGO, CA – HFF announced it has closed the sale of a 12-property office portfolio totaling nearly 1.1 million square feet throughout the Sorrento Mesa and Rancho Bernardo submarkets of San Diego, California.

HFF marketed the property on behalf of the seller, Kilroy Realty Corporation.

 An affiliate of Starwood Capital Group Global, a leading private investment firm based in Greenwich, Connecticut, purchased the asset free and clear of existing debt. 

Ryan Gallagher

HFF also arranged a variable-rate acquisition loan on behalf of the buyer through Wells Fargo Bank and CIBC as the senior lenders and Goldman Sachs as the mezzanine lender.

The institutional quality portfolio is 91 percent leased overall and includes one-, two-, and three-story office buildings located in the suburban markets of Sorrento Mesa and Rancho Bernardo.  The average completion date for the 12-building portfolio is 2002.

Michael Leggett

The HFF investment sales team representing the seller was led by senior managing directors Nick Psyllos and Ryan Gallagher, and senior managing director and co-head of HFF’s national office investment sales platform Michael Leggett.

HFF’s debt placement team was led by senior managing directors Tim Wright and Don Curtis and managing director Aldon Cole.

With more than 65 years of experience owning, developing, acquiring and managing commercial properties in West Coast real estate markets, publicly traded real estate investment trust Kilroy Realty Corporation (KRC), a member of the S&P MidCap 400 Index, is one of the region’s premier landlords. 

Tim Wright

The company provides physical work environments that can advance creativity and productivity to serve a roster of dynamic, innovation-driven tenants that includes technology, entertainment, digital media and health care companies. 

At September 30, 2013, the company’s stabilized portfolio totaled 12.5 million square feet of office properties, all located in the coastal regions of greater Seattle, the San Francisco Bay Area, Los Angeles, Orange County and San Diego.

 In addition, KRC has approximately 1.9 million square feet of new office development under construction with a total estimated investment of approximately $1.1 billion. 

Don Curtis

More information is available at www.kilroyrealty.com.

Starwood Capital Group is a private, U.S.-based investment firm with a core focus on global real estate.  

Since the group’s inception in 1991, the firm has raised more than $23 billion of equity capital and acquired over $45 billion in assets. 

  Starwood Capital Group currently has $32 billion of assets under management.  Starwood Capital Group maintains offices in Greenwich, Atlanta, San Francisco, Washington, D.C., Los Angeles and Chicago, and affiliated offices in London, Luxembourg, Paris, Mumbai and Sao Paulo. 

  Starwood Capital Group has invested in nearly every class of real estate on a global basis, including office, retail, residential, senior housing, golf, hotels, resorts and industrial assets.

Aldon Cole

  Starwood Capital Group and its affiliates have successfully executed an investment strategy that includes building enterprises around core real estate portfolios in both the private and public markets.

 Additional information about Starwood Capital can be found at www.starwoodcapital.com.

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

www.starwoodcapital.com.

Morgan Stanley to Move to Downtown St. Petersburg; Building to be renamed MORGAN STANLEY TOWER

150 Second Avenue North, St. Petersburg, FL
Will be Renamed Morgan Stanley Tower
Formerly Wells Fargo Plaza

Larry Feldman

ST PETERSBURG, FL– Morgan Stanley has signed a long-term lease at 150 2nd Avenue North.  The Class A office building formerly known as Wells Fargo Plaza will be renamed Morgan Stanley Tower after its newest tenant.  The financial services giant will occupy multiple floors in the building.

 The ownership of 150 2nd Avenue North offered Morgan Stanley building naming rights, stunning water views of Tampa Bay and a premium downtown location across from the new Shops at St Pete (formerly BayWalk).  The building is one of downtown St. Petersburg’s best-located, premier Class A office buildings.

 “We're thrilled to have received this long term lease commitment.  Within the financial services sector, Morgan Stanley is one the most respected names in the world,” stated co-owner Larry Feldman, CEO of Feldman Equities who spearheads leasing for the building. 

“The renaming of the building as Morgan Stanley Tower provides us with terrific branding for the building and our tenants.

“Our business plan is to combine the great branding of the Morgan Stanley name with a multi-million dollar renovation that will occur during 2014.  Upon completion, the new Morgan Stanley Tower will be one of the premier buildings in St. Petersburg.”

Katie Trott

Feldman has executed over 30,000 square feet of new leases since purchasing 150 2nd Avenue North last August.  In addition to Morgan Stanley, Feldman has recently executed new leases with

·         NASCO Sales leased 4,200 square feet. NASCO Sales is a supplier of electronic components and is a global leader in counterfeit avoidance technology.

·         On Q Financial leased approximately 1,300 square feet.  The deal was brokered by Katie Trott and Jimmy Johnson of CNL Commercial Real Estate. On Q Financial is a major mortgage lender.  During 2012, On Q funded approx. $2 billion in mortgages.  As of January 1, 2013, On Q Financial, Inc. employs 400 with 35 offices in Arizona, California, Colorado, Georgia, North Carolina, Texas, and Washington.

Jimmy Johnson

·         City Securities leased approximately 2,000 square feet. The deal was brokered by Ryan Reynolds of Cassidy Turley. City Securities is a 100 year old investment firm based in Indiana.  City Securities is a full-service personal investment adviser and wealth manager for individuals and families and experts in corporate and public finance across Indiana and throughout the Midwest.

The 17-story, 187,000 square foot office building was purchased in August of last year by a joint venture consisting of affiliates of Feldman Equities, Tower Realty Partners and Second City Capital Partners.

 “We purchased the building soon after Wells Fargo Bank vacated 22,000 square feet,” said Feldman.

  “This acquisition gave us the opportunity to do what we do best - renovating and upgrading office buildings in order to maximize their value.

Ryan Reynolds

 “We are well on our way to repeating the success we’ve had at City Center.”  In just four months ownership has increased occupancy at 150 2nd Avenue North from 65% to over 80%.

The group also owns the nearby, 242,000 square foot City Center office building where it has increased occupancy from 44% to nearly 94%.

Over the last 20 years, Feldman Equities and Tower Realty Partners have successfully joint ventured on the acquisition of millions of square feet of under-performing office buildings.

 Most recently the joint venture has partnered on City Center in downtown St Petersburg, Wells Fargo Center in downtown Tampa and Fountain Square II in Tampa’s Westshore Business District.

City Center, St. Petersburg, FL

  Feldman Equities is the modern business entity that encompasses a century of success in commercial real estate development.

In the last 25 years, Larry Feldman has developed or acquired over 11 million square feet of office and retail properties with an aggregate value in excess of $2.5 billion.

Feldman Equities is recognized for its hands-on approach to turning around distressed assets. Feldman gained a national reputation as a property turnaround specialist when he was the Chairman and CEO of the publicly traded Tower Realty Trust, Inc. (NYSE: TOW).

For more information visit www.feldmanequities.com

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

Feldman Equities

Larry Feldman

727-822-3395

lfeldman@feldmanequities.com

Lincoln Brokers AIT Worldwide Logistics’ 10,000-Square-Foot Expansion at Orlando Industrial Facility

Lee Vista Business Commons, 6317 McCoy Road, Orlando, FL

Robert Kellogg

ORLANDO, FL – Lincoln Property Company Southeast (Lincoln) has brokered the long-term extension and 10,000-square-foot expansion of AIT Worldwide Logistics’ lease at Lee Vista Business Commons, a Class A flex/industrial building in Orlando.

 With the expansion, which will take effect in the first quarter, AIT Worldwide Logistics will occupy at total of 25,039 square feet in the building, located at 6317 McCoy Rd. The property is now 100 percent occupied.

Robert Kellogg, vice president of office leasing for Lincoln, represented the landlord in the transaction and was the only broker in the transaction.

Located only two miles from Orlando International Airport, Lee Vista Business Commons offers frontage on Beachline Expressway and convenient access to Central Florida Greenway and Semoran Boulevard. The building also features a 24-foot clear height, 130-foot building depth, two dock doors per bay and Class IV sprinklers.

Scott Stahley

“AIT’s expansion at Lee Vista is indicative of Orlando’s strengthening industrial market,” said Scott Stahley, senior vice president for Lincoln who oversees the firm’s Orlando office.

“As the economies of both metro Orlando and the Southeast pick up steam, we should see continue to see vacancy rates in our portfolio and across the area drop.”

Dallas-based Lincoln Property Company is one of the nation's largest diversified commercial real estate companies, employing over 6,000 people.

Since its inception in 1965, Lincoln has developed over 34 million square feet of commercial office space, over 6 million square feet of specialty retail space and 49 million square feet of industrial space.

 Also a leader in owned and fee management, Lincoln currently manages over 145 million square feet of commercial property.

 For more information on the Southeast Region of Lincoln Property Company, please visit lpcsoutheast.com.

To check out the blog, go to http://blog.lpcsoutheast.com.

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

Stephen Ursery

The Wilbert Group

404-405-2354

sursery@thewilbertgroup.com

Lincoln Concludes Busy Year in Metro Atlanta’s North Fulton with Nearly 100,000 Square Feet of Leases in Fourth Quarter

  

Hunter Henritze

ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) brokered approximately 100,000 square feet of leases on behalf of Equity Office Properties (EOP) in the North Fulton section of metro Atlanta during the fourth quarter. 

The activity capped a busy and productive year for Lincoln in EOP’s North Fulton portfolio. All told, Lincoln brokered leases totaling nearly 350,000 square feet in the portfolio, which totals 2 million square feet.

Hunter Henritze and Michael Howell, each a vice president of office leasing at Lincoln, represented EOP in the transactions.

EOP’s North Fulton portfolio now has an occupancy rate of 90 percent, a significant increase from where the rate stood — 80 percent — when Lincoln began leasing the properties two years ago.

Tony Bartlett

“We’ve seen the office market improve as a whole in this area, but the improved operating fundamentals witnessed in the North Fulton portfolio also are a powerful testimony to the considerable expertise and experience Michael and Hunter bring to this assignment,” said Tony Bartlett, senior vice president at Lincoln who oversees the firm’s Atlanta office. “We look forward to another brisk leasing pace in 2014.”

Among the leases that closed in North Fulton as 2013 drew to a close:

• Jasper Wireless signed an extension and expansion totaling 18,692 square feet at Northwinds V in Alpharetta. April Hawkinson of Cassidy Turley represented the tenant.

• Select Management Resources extended and expanded its lease at Preston Ridge IV in Alpharetta, Ga., to 47,187 square feet. Brad Kuehn of Atlanta Office Realty represented the tenant.

Michael Howell

• U.S. HealthWorks extended its lease of 19,506 square feet at Preston Ridge IV. Ryan Hudson of CBRE represented the tenant.

Dallas-based Lincoln Property Company is one of the nation's largest diversified commercial real estate companies, employing over 6,000 people.

Since its inception in 1965, Lincoln has developed over 34 million square feet of commercial office space, over 6 million square feet of specialty retail space and 49 million square feet of industrial space.

 Also a leader in owned and fee management, Lincoln currently manages over 145 million square feet of commercial property.

 For more information on the Southeast Region of Lincoln Property Company, please visit lpcsoutheast.com.

To check out the blog, go to http://blog.lpcsoutheast.com.

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

Stephen Ursery

The Wilbert Group

404-405-2354

sursery@thewilbertgroup.com

$105.8 million acquisition financing arranged by HFF for Thanksgiving Tower in Dallas, TX

Thanksgiving Tower, 1601 Elm Street, Business District, Dallas, TX

Steve Heldenfels

DALLAS, TX – HFF announced it has arranged $105.8 million in acquisition financing for Thanksgiving Tower, a 1.37 million-square-foot, 50-story, trophy office property in Dallas’ central business district.

               HFF worked on behalf of Woods Capital Management to secure the three-year, floating-rate loan through Ares Commercial Real Estate Corporation. 

Loan proceeds will be used to fund an extensive capital improvement program aimed at dramatically improving the property’s infrastructure and amenities and accelerating the ongoing revitalization of downtown Dallas’ Main Street District.

               Thanksgiving Tower is located at 1601 Elm Street at the intersection of Ervay and Elm Streets within walking distance of the DART light rail in the heart of downtown Dallas. 

Trey Morsbach

The property is 74 percent leased to a diverse mix of tenants including Santander Consumer USA, Gardere Wynne Sewell, Looper Reed McGraw, and Petro Hunt.  The property features a 745-space, six-level, subterranean parking garage and the Tower Club restaurant on the 48th floor.

               The HFF team representing the borrower was led by managing director Steve Heldenfels and senior managing directors Trey Morsbach and Brian Carlton.

Woods Capital, founded by Jonas Woods in 2007, is an integrated real estate investment firm focused on the U.S. real estate market. 

The firm seeks to make opportunistic equity and debt investments on behalf of its investors in projects where it can leverage the acquisition, management, development and capital markets experience of the firm. 

The Woods Capital team has been a successful participant in the real estate markets as an investor, developer and manager of real estate assets, as well as a fiduciary on behalf of third-party capital. 

Brian Carlton

The team members have completed over $4 billion in real estate acquisition and/or development transactions including office, residential, industrial, retail and mixed-use properties.

Ares Commercial Real Estate Corporation is a specialty finance company that provides principal lending, mortgage banking and servicing of commercial real estate loans. 

Through its national direct origination platform, Ares Commercial Real Estate Corporation provides a broad offering of flexible financing solutions for commercial real estate owners and operators in the middle market.

  Ares Commercial Real Estate Corporation has elected to be taxed as a real estate investment trust and is externally managed by an affiliate of Ares Management LLC, a global alternative asset manager with approximately $68 billion in committed capital under management as of September 30, 2013. 

For more information, please visit www.arescre.com.

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

HFF secures $28 million refinancing for distribution center in Carteret, NJ

200 Milik Street Warehouse-Distribution Center, Carteret, NJ

Jon Mikula

FLORHAM PARK, NJ – HFF announced it has secured a $28 million refinancing for 200 Milik Street, a 232,134-square-foot, state-of-the-art warehouse/distribution center  in Carteret, New Jersey.

               Working on behalf of The Hampshire Companies, HFF placed the five-year, fixed-rate loan with TD Bank. 

Redeveloped by the borrower in 2012, 200 Milik Street is 100 percent leased. 

The LEED Certified building is located 1.7 miles from the New Jersey Turnpike’s Exit 12 interchange and less than 10 miles from Newark Liberty International Airport. 

The facility features 36-foot clear ceiling heights, 25 truck loading docks, seven drive-in docks and parking for up to 42 truck trailers.

               The HFF team representing The Hampshire Companies was led by senior managing director Jon Mikula and director Michael Klein.

Michael Klein

               “Given the building’s new construction, state-of-the-art features, proximity to the port and airport, and the credit tenancy, there was no shortage of lenders interested in making this loan,” said Klein. 

“TD Bank delivered an aggressive interest rate and structure that best met the borrower’s needs and was able to close smoothly and quickly,” added Mikula.

The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey.  The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments.

  Additional information on The Hampshire Companies is available online at www.hampshireco.com. 

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

HFF arranges $12 million financing for Cottonwood Creek Apartments in Denver, CO

Cottonwood Creek Apartments, 8801 West Belleview Avenue, Denver, CO

Eric Tupler

DENVER, CO – HFF announced today that it has arranged $12 million in financing for Cottonwood Creek Apartments, a 168-unit, garden-style multi-housing community in Denver, Colorado.

               HFF worked exclusively on behalf of RedPeak Properties, LLC to secure the five-year, 3.62 percent, fixed-rate loan through a national bank.  Loan proceeds will refinance maturing debt on the property. 

Situated on approximately 7.3 acres, Cottonwood Creek is located at 8801 West Belleview Avenue in Denver’s Lakewood-South submarket. 

The eight-building property is 98 percent leased and includes one- and two-bedroom units averaging 771 square feet each.  Community amenities include a clubhouse, fitness center, picnic/barbecue area, cyber café, swimming pool and spa.

Josh Simon

The HFF team representing the borrower was led by senior managing director Eric Tupler, director Josh Simon and real estate analyst Jared Buffington.

RedPeak Properties is a full-service apartment owner, operator, developer and acquirer with an exclusive focus on Denver and Colorado’s Front Range. 

The company continually upgrades the value of its portfolio through the thoughtful development, redevelopment and repositioning of its assets. 

RedPeak strives to provide distinctive, highly amenitized residences close to key employment centers, public transportation and entertainment districts.

 RedPeak Properties’ portfolio is comprised of more than 2,000 units located in Capitol Hill, Cherry Creek, City Park, Downtown Denver, Greenwood Village, Littleton, Northwest Denver, Hilltop and Washington Park. www.redpeak.com.

  

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

Veteran Orlando Real Estate Executive Robin Webb Elected President of CCIM Foundation

Robin Webb

ORLANDO, FL --- Robin Webb, managing director of NAI Realvest in Orlando, was recently elected president of the CCIM Foundation, which fosters commercial real estate education programs and initiatives worldwide and funded scholarships worth more than $750,000 over the past five years.

 Webb is well known among Florida real estate investors, brokers and lenders, having headed Coldwell Banker's Florida division for 22 years before joining NAI Realvest, a dominant brokerage firm in Florida's high-growth I-4 corridor.

 Webb is equally well known at the CCIM Institute, where he serves as a member of the CCIM board of directors and on the boards of the CCIM Institute Foundation and CCIM Technologies.

 A senior instructor on the CCIM faculty, Webb has made professional education a career objective. He has earned seven professional designations and launched a career mentoring initiative at NAI Realvest to develop the next generation of executives at the 32-year old firm.

 “As a director and donor for a number of years and knowing what a dynamic and dedicated board of directors we have, it is truly an honor to serve as president," Webb said.

 Webb will continue to serve as managing director at NAI Realvest during his one-year term as president of the Foundation.

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

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

NAI Realvest Negotiates Two New Leases at Jourdan Crossing Retail Center in Oviedo, FL

George Viele

 ORLANDO, FL – NAI Realvest recently negotiated two new lease agreements totaling approximately 4,800 square feet at the Jourdan Crossing Retail Center, 310 W. Mitchell Hammock Rd. in Oviedo.

 George Viele, associate at the firm, brokered both transactions representing the local landlord, Jourdan Crossing, LLC.

 Oviedo-based restaurant operator Chau Man, LLC leased Suite 800 with 1,370 square feet. 

 Suite 200 with 3,424 square feet was leased by HealthMed Solutions, LLC an Oviedo-based provider of home medical equipment and services.

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

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