Atlanta-Area Retirement Community Sells for $33 Million

Towne Club at Peachtree City Seniors Apartments, 201 Crosstown Drive, Peachtree City, GA

Michael J. Fasano

PEACHTREE CITY, GA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Towne Club at Peachtree City, a 153-unit luxury rental seniors housing property in Peachtree City, Ga. The $33 million sales price equates to $215,686 per unit.

            Mike Pardoll, a senior vice president investments in Marcus & Millichap’s Charlotte, N.C. office, assisted by Michael J. Fasano, vice president in the firm’s Atlanta office, represented the seller, Peachtree City Towne Club LLC.

            “Towne Club at Peachtree City is a luxury congregate care facility that originally opened as an independent living community,” says Pardoll. “In 2012 and 2013, some of the independent living apartments were converted to assisted living units. There is now a waiting list for those units.”

            The property is located at 201 Crosstown Drive in Peachtree City, Ga., approximately 25 miles south of Atlanta’s Hartsfield-Jackson International Airport. U.S. News & World Report named the area as one of the “10 Best Places to Retire” in 2012. 

Mike Pardoll

            Established in 1959, Peachtree City has approximately 37,000 residents, 8 percent of whom are 65 and older. Peachtree City’s residents can use golf carts to travel to golf courses, tennis courts, lakes, schools, a 2,500-seat amphitheater and other destinations on the town’s more than 90 miles of cart paths.

            Towne Club at Peachtree City’s current configuration is 112 independent living apartments and 41 assisted living units. The independent living apartments average 918 square feet and the assisted living units range from 350 to 1,075 square feet.

Each apartment has a full kitchen with granite countertops, island and breakfast bars, stainless-steel appliances, tile kitchen and bath, deluxe cabinetry and crown moldings and a washer and dryer.

            The community features country club-style dining and a full-service cocktail lounge. Other amenities include a saltwater pool, fireside cabana, massage room, fitness center, gardening area, in-house theatre, media center and game room.

            The facility was 92-percent occupied at the time of the sale.

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

Gina Relva

Public Relations Manager

(925) 953-1716

IPA Sells Three-Property Upper Manhattan Portfolio for $31 Million

623 and 631 West 207th Street Apartments (left)
222-228 Seaman Avenue Apartments (right)
Inwood Neighborhood, Manhattan, NY

Peter Von Der Ahe

NEW YORK, NY – Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has arranged the sale of a three-property, 186-unit multifamily portfolio in Manhattan’s Inwood neighborhood. 

The properties are 623 and 631 West 207th St., 222-228 Seaman Ave. and 29-45 Sickles St. The $31 million sales price equates to $166,667 per unit.

            IPA’s Peter Von Der Ahe, Scott Edelstein and Seth Glasser, along with Marcus & Millichap’s Jonathan Schwartz, advised the seller, The Dermot Company Inc. The buyer is A&E Real Estate Management LLC.

Scott Edelstein

            “The acquisition of this well-performing portfolio provides the new owner with reliable cash flow and the ability to capitalize on the future growth and appreciation of this increasingly desirable neighborhood in Upper Manhattan,” says Von Der Ahe.

“All three properties have received institutional-quality maintenance for the past six years plus renovations that include updated common areas, façade work and new roofing.”

            The 623 and 631 West 207th St. property is near the A subway line station on the corner of Broadway and West 207th St. and is close to shopping along the Broadway Corridor. 

      

Seth Glasser

            The 222-228 Seaman Ave. asset is west of Broadway on a quiet, tree-lined residential block atop a hill neighboring historic Inwood Hill Park. Many of the buildings on the block have undergone condominium or co-op conversion.     

            The 29-45 Sickles St. property has 225 feet of frontage, an attractive Tudor-style design and meticulously maintained common areas, façade and mechanical systems.

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

Gina Relva

Public Relations Manager

(925) 953-1716

IPA Arranges Sale of Exo Astoria in New York City for $47.25 Million

Exo Astoria Apartments, Queens neighborhood, New York City

Jeff Greene

 NEW YORK, NY – Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has arranged the sale of the Exo Astoria, a 14-story 117-unit residential building in the Astoria neighborhood of Queens in New York City.

The sales price of $47.25 million equates to approximately $404,000 per unit.

Peter Von Der Ahe

            IPA’s Peter Von Der Ahe, Joe Koicim and David Lloyd advised the seller, the financial services firm TIAA-CREF. The buyer is a partnership between Forest Properties, a Massachusetts-based property management firm, and real estate entrepreneur Jeff Greene.

            “Through historical real estate and economic cycles, New York City has proven itself to be the safest and most stable multifamily investment market in the nation,” says Von Der Ahe.

“The Exo Astoria is in one of the city’s top submarkets within a rapidly emerging neighborhood that is well positioned for continued rent growth and long-term capital appreciation.”

Joseph Koicim

            “The Exo Astoria provides young professionals seeking upscale living with an alternative to the Manhattan and Brooklyn housing markets,” adds Koicim.

             Constructed in 2008 and recently upgraded, the property is located at 26-38 21st St. in Astoria, a neighborhood in Queens, N.Y. The N and Q subway lines and M60 and Q19 bus lines provide residents with short commutes to Manhattan.

Apartments at the Exo Astoria feature oak-plank flooring, recessed lighting and Bosch washers and dryers. Many units have balconies or terraces with city, river and bridge views.

David Lloyd

Shared amenities include an around-the-clock concierge, on-site covered parking, a residents’ lounge with gourmet kitchen, billiards, flat-screen TV and Wi-Fi access, a fitness center and a landscaped sky lounge and rooftop terrace with views of the Manhattan skyli

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

Gina Relva

Public Relations Manager

(925) 953-1716

Foreign Investor Sets Record Price in Miami, FL

  

Typical Family Dollar Sales Floor

David Wells

Miami, FL --  Foreign investors are continuing to invest their money in Miami and are looking beyond residential condos.  The recent sale of a newly renovated Family Dollar in Miami brought a record price by an Argentinian investor.

The property was marketed on behalf of the seller, Mandy’s Market, LLC, by the Wells Net Lease Group, the nation’s largest private net lease brokerage firm. 

“We’ve sold roughly 50 dollar stores over the last 12 months and I’ve never seen a lower cap rate paid for a Family Dollar (cap rates move inversely to price),” Says David Wells, Managing Director.

 “The buyer paid a 6.8% cap rate on a 10-year corporate lease.  There’s so much foreign money looking to invest from South America and a lack of commercial real estate assets on the market in Miami and the surrounding areas.” 

Wells adds, “We’re seeing a trend of foreigners who have invested on the residential side in Miami looking to move into commercial assets.  We’ve developed contacts with the foreign banks and money managers who have access to the clients.” 

The overall outlook for US real estate assets with long-term credit tenants remains strong across all commercial real estate market sectors.

“For credit rated tenants with ten or more years of term prices have steadily risen throughout the year as more investors are seeking higher yields than the bond market offers and the security of the underling real estate,” says Wells. 

 “Cap rates will rise slightly going forward in respect to the increase in interest rates but overall demand for credit assets will continue.”

The buyer, OTE, LLC was represented by Jorge Ramirez.

 The property is located at 7200 NW 2nd Ave. in Miami and consists of an 11,825 sq./ft. building that was recently renovated for Family Dollar corporate.  Family Dollar has an investment grade credit rating of BBB-

For more information, contact:

David Wells

305.498.6095

david.wells@wellsnetlease.com

HFF secures $31.5 million financing for two South Florida Hampton Inn locations

Elliott Throne

MIAMI, FL – HFF announced it has secured $31.5 million in financing for the two Palm Beach County Hampton Inn hotels.

HFF worked exclusively on behalf of the owner to arrange senior mortgage financing totaling $31.5 million through Morgan Stanley Mortgage Capital Holdings, Inc. in two separate transactions. 

Both loans were on a 10-year, fixed-rate term with pricing in the low five percent range. 

                The HFF team representing the borrower was led by director Elliott Throne and senior managing director Mike Kavanau, as well as real estate analyst Alexandra Lalos.

Mike Kavanau

“These assets are some of the nicest Hampton Inns in the entire chain and their uniqueness allowed them to achieve very high per key values,” stated Throne.

 “The aggressiveness of the terms offered in the financing was a result of the quality of both the assets themselves and the sponsorship.”   

HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). 

HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

Alexandra Lalos

HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. 

For more information, please visit www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff.  

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 $27.4 million sale of Overland Crossing in Overland Park, KS

Overland Crossing Shopping Center, 11900-12070 Metcalf Avenue, Overland Park, KS

Amy Sands

CHICAGO, IL – HFF announced it has closed the sale of Overland Crossing, a 174,497-square-foot shopping center in Overland Park, Kansas.

                HFF marketed the center on behalf of the seller, Continental Properties Company, to a special purpose entity arranged by GDA Companies, who purchased the asset for $27.4 million free and clear of debt.

Overland Crossing is situated on 19.6 acres at 11900-12070 Metcalf Avenue at the intersection of Metcalf Avenue and 119th Street, two of Kansas City’s busiest retail corridors with an average daily traffic count of 55,100 vehicles. 

Completed between 1997 and 2000, the property is anchored by Burlington Coat Factory, Golfsmith and OfficeMax. 

The HFF investment sales team representing the seller was led by director Danny Kaufman and associate director Amy Sands.

“Overland Crossing has arguably the best retail location in Kansas City, situated at the intersection of two of the busiest retail corridors in affluent Johnson County,” said Kaufman. 

Dan Kaufman

“In addition, the property benefits from its position at the center of a 26.4 million-square-foot office market, which provides a large daytime consumer base,” added Sands.

Continental Properties Company, Inc. is a national real estate development company headquartered in suburban Milwaukee, Wisconsin with a retail leasing office in Arizona. 

Founded in 1979 and still privately held, Continental has grown from a small real estate company to a major presence in the development industry.

GDA Real Estate Services, LLC is a commercial real estate acquisitions company in Greenwood Village, Colorado, that owns and operates over 84 properties in Arizona, California, Colorado, Oregon, Washington, South Carolina, Ohio, Georgia, Kansas, Missouri and Texas.    

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 $42 million financing on behalf of Gart Properties for a four-property retail portfolio in Colorado

The properties included in the financing are: Pavilion Shopping Center in Fort Collins;
Indian Tree Shopping Center in Arvada; Micro Center Shopping Center in Denver;
 and Saddle Rock Village in Aurora.

Eric Tupler

DENVER, CO – HFF announced it has arranged $42 million in financing on behalf of Gart Properties for a four-property retail portfolio totaling 436,107 square feet in Colorado. 

               HFF worked exclusively on behalf of Gart Properties to secure the 10-year, 4.5 percent fixed-rate loan with a correspondent life company lender. 

Loan proceeds were used to refinance maturing debt on the properties and to allow Gart Properties to realize significant value that had been created through renovation and repositioning of the assets including strategic leasing and management throughout the past several years.

Josh Simon

The properties included in the financing are: Pavilion Shopping Center in Fort Collins; Indian Tree Shopping Center in Arvada; Micro Center Shopping Center in Denver; and Saddle Rock Village in Aurora.

 The portfolio was 94 percent occupied at closing, including anchor tenants Michael’s, T.J.Maxx, Sprouts, Micro Center, PetSmart and Jo-Ann Fabric and Craft Store.

The HFF team representing the seller was led by senior managing director Eric Tupler, director Josh Simon and real estate analyst Kristian Lichtenfels.

“The entire HFF team did a terrific job beyond just covering the market with respect to potential lenders, but also in telling the Gart story and making sure that the ultimate lender not only offered compelling terms but was also an excellent cultural fit for our organization,” said Mark Sidell, president of Gart Properties. 

Kristian Lichtenfels

“This was a very meaningful deal for us and one that positions us to continue our aggressive acquisition program.”

Gart Properties is a Denver-based real estate investment, development and management company. Its portfolio of properties includes office buildings, resort properties, residential developments and more than 3.5 million square feet of retail shopping center space.  www.gartproperties.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 closes sale of LOOP West in Kissimmee, FL

Loop West shopping center, Kissimmee, FL

Kim Flores

MIAMI, FL – HFF announced it has closed the sale of LOOP West, a 295,100-square-foot retail center in Kissimmee, Florida.

               HFF marketed the property on behalf of the seller, O’Connor Capital Partners.  An affiliate of North American Development Group purchased the property free and clear of debt.

               Completed in 2008, LOOP West is fully leased to national tenants including Babies R Us, Bealls, TJ Maxx, Books-A-Million, DSW, Party City and Ulta and shadow-anchored by JC Penney. 

The 38.72-acre site is located at 2001 West Osceola Parkway near Walt Disney World, Sea World, Hollywood Studios and The Florida Turnpike about 15 miles south of downtown Orlando.

Luis Castillo

                The HFF team representing the seller was led by senior managing directors Danny Finkle and Brad Peterson, and directors Luis Castillo and Kim Flores.

               “LOOP West is one of the most dominant and successful retail centers in Florida due to its prominent location, national credit tenancy and high-quality physical improvements,” said Finkle.

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.

O’Connor Capital Partners is a privately-owned, independent real estate investment, development and management firm.  O’Connor concentrates its efforts on making direct investments in high-quality assets in major metropolitan markets in North America.

Brad Peterson

In its cumulative business history, North American Development Group ("NADG") has been active in the development, acquisition, redevelopment and management of over 200 shopping centers comprising well in excess of 25 million square feet of GLA with an enterprise value of over $3 billion. 

NADG owns over 14 million square feet of existing shopping center gross leasable area in the U.S and Canada, with an additional 4 million square feet of shopping center GLA in development or pre-development. 

The company also owns approximately 1400 acres of land) in the U.S. and Canada that has been acquired for future retail development. 

  NADG has 11 offices across North America, consisting of 6 in the United States and 5 in Canada, and a team of over 150 seasoned real estate professionals. 

Daniel Finkle

Over the last 4 years, NADG has acquired 35 retail properties comprising over 5 million square feet of existing or to be developed space.  For further information, please visit, www.nadg.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 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