HFF arranges $85 million construction loan for TripAdvisor headquarters in Needham, MA

Rendering of planned six-story, 280,000-SF corporate headquarters building
for TripAdvisor in Needham, MA

 

Riaz Cassum

BOSTON, MA – HFF announced it has arranged an $85 million construction loan for the six-story, 280,000-square-foot, built-to-suit corporate headquarters of TripAdvisor in Needham, Massachusetts.

               HFF worked on behalf of the borrower, a joint venture of Normandy Real Estate Partners and Greenfield Partners, to secure the floating-rate loan.  The lender group was led by RBS Citizens and also included People’s United Bank. 

               Due for completion in 2015, TripAdvisor’s headquarters will consist of a custom-built, LEED Certified Gold office building with an employee cafeteria, fitness center and meeting areas, along with an 1,100- space parking garage. 

The property is situated on 4.7 acres along First Avenue in the larger Center 128 mixed-use development directly fronting Route 128/Interstate 95 in Needham, about eight miles west of downtown Boston.       

The HFF team representing the borrower was led by senior managing director Riaz Cassum, director Porter Terry and senior real estate analyst Brett Paulsrud.

Porter Terry

“Normandy and Greenfield had the vision and persistence to transform an underutilized group of 1950’s era R&D buildings into an amenity-rich corporate office location and HFF was thrilled to play a part,” said Cassum.

The RBS Citizens and People’s United Bank teams were respectively led by senior vice presidents William Butler and David Lewis. 

“RBS Citizens was thrilled to help both Normandy and Greenfield bring TripAdvisor to Center 128,” added Butler.       

                Normandy Real Estate Partners is a leading real estate operator and investment manager headquartered in Morristown, NJ with offices in Boston, New York City and Washington, D.C.

Normandy currently manages a series of discretionary real estate funds totaling approximately $1.5 billion of equity commitments.

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

Two New Tenants Sign on at Aventura Optima Plaza in Aventura, FL

Aventura Optima Plaza, Aventura, FL

  

Randy Olen

MIAMI, FL, Jan. 23, 2014 - Colliers International South Florida is pleased to announce that Fossil Partners, LP (NASDAQ: FOSL) a global design, marketing and distribution company, and Soffer Health Institute, led by founder and board certified cardiovascular specialist Dr. Ariel Soffer, MD, FACC, have both become the newest tenants to sign on at Aventura Optima Plaza.

They join KAWA Capital Management, The Bloom Organization, Morales Law Group, Nexsys International and Dolce Living Investments, LLC, who also signed leases in the building earlier this year.

Aventura Optima Plaza is an 114,000-square-foot Class A office and medical project that is on track to become only the second high-rise office building in Florida to be certified LEED Platinum.

Ryan Ackerman

Fossil, which specializes in consumer fashion accessories, will occupy 11,401 square feet of office space to house its Latin American headquarters on the eighth floor of the east building. Soffer Health Institute will occupy 4,577 square feet on the ground floor of the west building.

"Aventura Optima Plaza differentiates itself from its competition due to an impressive and environmentally friendly design, as well as a solid and reliable ownership group," said the building's leasing representative, Randy Olen, Executive Vice President of Colliers International South Florida.

"The building's ownership group has a history and reputation of securing quality tenants for their assets, both at Aventura Optima Plaza, as well as their other projects in Mexico City, because they build outstanding projects and treat their tenants like family..."

Randy Olen of Colliers International South Florida exclusively represented the landlord in both transactions while Ryan Ackerman of CB Richard Ellis represented Fossil Partners and Kyle Sorel of Florida Medical Space represented Soffer Health Institute.

Kyle Sorel

Aventura Optima Plaza consists of a nine-story east tower fronting Biscayne Boulevard and four-story west building connected by a 457-space covered parking garage. 

The project just completed the 20,000-SF "green" rooftop facility above the parking structure which includes an exercise room and outdoor, landscaped jogging trails. 

Additionally, a fifth-level water patio connecting the parking garage and east building has also been opened to tenants featuring seating areas and a floating deck constructed using reclaimed wood. Two escalators in the front of the building take tenants and visitors from the ground level to the building lobby located on the mezzanine level.

  

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

Crystal Proenza

Vice President of Marketing and Culture

Colliers International South Florida

Commercial Real Estate Services

Tel: 305 476 7138

Email: crystal.proenza@colliers.com

www.colliers.com

Washington DC’s Iconic L’Enfant Plaza Hotel to Undergo Major Renovation after Acquisition by Hotel Group

  

  

Washington, DC,  Jan. 23, 2014—L’Enfant DC Hotel LLC announced today the purchase, for an undisclosed amount, of the L’Enfant Plaza Hotel in downtown Washington, D.C. 

Will Gibbs

The landmark 372-key property was acquired by the company on December 3rd. The hotel was immediately closed upon transfer in anticipation of a major renovation.

The yet-to-be-branded hotel is located in the heart of Southwest Washington’s most dynamic mixed-use development, which includes quality retailers and Class A office space.

This location is one block from many of Washington’s premier attractions, including The National Mall, The Washington Monument and The Smithsonian. 

Also within minutes are The United States Capitol, US Supreme Court and The White House. Virginia and Maryland are easily accessible for guests of the hotel through the L’Enfant Plaza Metro Station located beneath the hotel. Many federal agency headquarters are within walking distance.

            “This is one of the premier locations in the Nation’s Capital and serves both leisure and business guests,” said Will Gibbs, senior vice president, L’Enfant DC Hotel LLC. “Our plans to restore the hotel to 4 Diamond status are being developed now with intentions to re-open the hotel in 2015.

Vlastimil Koubek

“The current development of an additional 58,000 square feet of retail space adjacent to the hotel and the future development plans of 1.8 million square feet of mixed-use commercial property on the Potomac River’s Southwest waterfront one block away make the potential for the hotel to be at the height of its 40-plus-year history.”

 Opened as a luxury property in 1973, The L’Enfant Plaza Hotels boasts 372 guest rooms and suites. It was designed by architect Vlastimil Koubek and named after Pierre Charles L'Enfant, the first surveyor and designer of the street layout for the Washington D.C.

 The property features 21,000 square feet of conference and banquet space, including a 700-seat ballroom, two restaurants, two bars, coffee kiosk, retail spaces, health club, business center and a rooftop pool.

L’Enfant DC Hotel LLC is an affiliate of Stanford Hotels Group 

 (www.stanfordhotels.com) which operates 13 hotels and has four additional hotels under construction and development stages located in Times Square, New York City; South Lake Union, Seattle; Fifth and Stewart, Downtown Seattle; and South of Market, San Francisco.

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

  

Jerry Daly, media

Daly Gray Public Relations

(703) 435-6293

jerry@dalygray.com

Gemstone Hotels & Resorts Awarded Management Contract for Essex Culinary Resort and Spa in Burlington, VT

  

            PARK CITY, UT and BURLINGTON, VT, Jan. 23, 2014—Gemstone Hotels & Resorts, a full-service hotel management company that specializes in owning and operating luxury and upscale urban hotels and resorts, today announced the company has assumed management of the 120-room, AAA Four Diamond Essex Culinary Resort and Spa in Burlington, Vt.

Jeff McIntyre

The resort is at 70 Essex Way in Essex (Burlington) VT and is situated on 18 acres tucked between Vermont's Green Mountains and Lake Champlain.

"Essex Culinary Resort and Spa is a hand-in-glove fit with our growing portfolio of 18 luxury and upscale resorts and hotels," said Jeff McIntyre, principal of Gemstone.

 "Essex is smartly on-trend for today's food-savvy, wellness-focused traveler, and our team has a unique understanding of the operational and marketing needs of one-of-a-kind resort properties. Gemstone specializes in creating and celebrating 'brands of one'."

"More and more, we see leisure, group and business travelers looking for an experience, not just a place to stay. The authentic, local experience that is the essence of Essex clearly resonates with their guests," noted Thomas Prins, principal of Gemstone.

 "We look forward to tailoring our proven marketing and management systems to The Essex  in order to attract active, travelling foodies who want to expand their culinary skills and knowledge while savoring locally-inspired fine cuisine."

Thomas Prins

The resort's culinary experience, includes two restaurants, 10,000 square feet of indoor meeting space and catering venues, and one of the most unique and rustic wedding locations in all of New England—The Ponds. 

The true distinguishing feature of “Vermont's Culinary Resort”, is the in-house “Cook Academy”, where guests have the opportunity to learn from the resort's world class chefs in special classes and daily samplings.  

The school and the resort's food and beverage offerings are under the direction of award-winning, certified European master chef Arnd Sevier.  The hotel's restaurants, Amuse and The Tavern, are led by two-time Vermont Iron Chef Shawn Calley.

Essex Culinary Resort and Spa also features the area's only full-service spa, The Spa at Essex, with ten treatment rooms, a fitness center, indoor lap pool, a seasonally available outdoor pool and hot tub and a full-service salon.  The resort also is home to Vermont Tennis Vacations, listed among Vermont's best by Tennis Magazine, and the area's only 18 hole executive golf course.  

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

Lauralee Dobbins, media

(703) 435-6293

Lauralee@dalygray.com

 http://www.essexresortspa.com

.

Marcus & Millichap Arranges Sale of Rolling Hills Apartments in Tallahassee, FL for$6.4 Million

  

Rolling Hills Apartments, 280 John Knox Road, Tallahassee, FL

  

Francesco 'Frank' Carriera

TALLAHASSEE, FL,  Jan. 23, 2014 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Rolling Hills Apartments, a 152-unit multifamily community located in Tallahassee, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $6,440,000.

Francesco “Frank” Carriera and Michael Regan, vice presidents investments in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the Georgia-based seller, a private investor. 

 The listing agents also procured the buyer of the property a private investor from Tallahassee, Fla.

Rolling Hills Apartments was built in 1972 and are located at 280 John Knox Road in Tallahassee, Fla.  The property consists of seven, two-story buildings comprised of one-, two and three bedroom units. In 2004, 18 three-bedroom/three-and-a-half bathroom townhome units were added. 

All townhome units have back patios with views of a natural spring-fed lake.  Property amenities include on-site laundry facilities, washer and dryer appliances in all townhome units, washer and dryer connections in select units, a fitness center, barbeque and picnic area, a clubhouse and a pool.

Michael Regan

“We generated nine offers from buyers located in the Southeast, Northeast and Central U.S. regions, says Carriera. 

  “The incredible amount of interest we received in the offering, allowed for multiple offers over the seller’s expectations, with several buyers offering non-refundable deposits immediately upon execution of the purchase contract,” adds Carriera. 

“The Tallahassee market allows investors from all over Florida to take advantage of buying investments at slightly higher yields than most other markets in Florida.  Additionally, investors are attracted to Tallahassee due to the stable government and higher education employment opportunities,” concludes Carriera.

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

Richard D. Matricaria

Regional Manager, Tampa

(813) 387-4700

www.MarcusMillichap.com

Northeast PCG Closes New York and Connecticut Sale in Active Year-End Market

35 Thompson Street, New Haven, CT

Edward Jordan

WHITE PLAINS, NY and  BRIDGEPORT, CT– Investment sales broker Northeast Private Client Group has announced the year-end sale of four apartment properties: 

• 34 Pier Street, Yonkers, NY;
• 137 East 233 Street, Bronx, NY;
• 35 Thompson Street, New Haven, CT;
• 50 Maple Avenue, Cheshire, CT. 

The four properties traded in separate transactions for a combined value of $4,955,000, representing a blended 7.0% capitalization rate on current Net Operating Income.

Edward Jordan, JD, CCIM, the firm’s managing director, led a team of agents based in White Plains, NY, and Bridgeport, CT, that represented the sellers and buyers in the four separate transactions. 

“The success of these transactions are proof positive of our commitment to relationship-based brokerage,” said Jordan. “With our relationships and market expertise across the region, we identified the buyers best suited to these specific investment opportunities.”

Steven D'Ambrosio

The 34-unit multifamily property at 34 Pier Street in Yonkers, NY, sold for $2,400,000 in a transaction assisted by Steven D’Ambrosio, an associate in the firm’s White Plains, NY, office.  The price equates to $70,588 per unit, which represents a gross rent multiplier of 7.0 and a capitalization rate of 6.5%. 

The 8-unit mixed-use property at 137 East 23 Street, Bronx, NY, sold for $990,000 in a transaction assisted by Anthony Watkins, senior associate in the firm’s White Plains, NY, office.  The price equates to $123,750 per unit, which represents a gross rent multiplier of 8.8 and a capitalization rate of 7.4%.

The 6-unit mixed-use property at 35 Thompson Street, New Haven, CT sold for $475,500 in a transaction assisted by Bradley Balletto, regional manager in the firm’s Bridgeport, CT, office.  The price equates to $79,250 per unit, which represents a gross rent multiplier of 7.8 and a capitalization rate of 8.5%. 

The 8-unit multifamily property at 501 Maple Avenue, Cheshire, CT, sold for $1,090,000 in a transaction assisted by Taylor Perun, an associate in the firm’s Bridgeport, CT, office.  The price equates to $136,250 per unit, which represents a gross rent multiplier of 8.7 and a capitalization rate of 7.1%. 

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

Randy Savicky

Founder/CEO

Strategy+Communications

Connecting the New PR & Marketing to Business Goals

21 Brierbrook Lane, Weston CT 06883

T: 203-226-6156

M: 203-571-8151

E: randy@strategypluscommunications.com

L: www.linkedin.com/in/randysavicky

F: www.facebook.com/randy.savicky

T: @randysavicky

W: www.strategypluscommunications.com

Check out our blog at http://www.strategypluscommunications.com/blog-0/

Atlantic | Pacific Companies Acquires Two New Properties in Atlanta, GA with the Addition of Clifton Apartments and Townview Station

Townview Station Apartments, Deering Road, Midtown Atlanta submarket

Mark Briggs

MIAMI, FL, Jan. 22, 2014 – Adding to its existing and extensive Atlanta portfolio, Atlantic | Pacific Companies (A | P Companies) is pleased to announce the acquisition of Clifton Apartments (Clifton) and Townview Station (Townview).

 Both Clifton and Townview are situated in exclusive locations within the desirable central core of Atlanta. These new acquisitions continue the expansion of A | P Companies’ “urban core” holdings in Atlanta.     

 Townview Station, located on Deering Road in Atlanta’s Midtown submarket, is a 277 unit, garden-style apartment community featuring one and two bedroom floor plans. 

Units feature fully equipped kitchens, large walk-in closets, gas fireplaces and private sunrooms in select units, and a private balcony or patio. Community amenities include a clubhouse, swimming pool with large sundeck, and 24-hour fitness center.

 The community is located within walking distance to several restaurants and nightlife destinations at Atlantic Station.

 Clifton Apartments, located near the intersection of Briarcliff Road and Clifton Road, is a 214 unit, garden-style apartment community featuring one and two bedroom floor plans. Clifton is a gated community featuring fully equipped kitchens, walk-in closets, sunrooms, and wood burning fireplaces. The community amenities include an outdoor swimming pool, a fitness center, and fenced dog park. The community is located less than a mile from Emory University and the CDC.

  

 A | P Companies plans to make capital improvements to both properties including enhancements to the clubhouses, fitness centers and pool areas, as well as upgrades within the units. 

Atlantic | Pacific Management, the property leasing & management platform under A | P Companies, will handle all property management responsibilities for both properties.

Mark Briggs, Senior Managing Director at A | P Companies, says “A | P Companies continues to be aggressive on value-add opportunities in Atlanta, particularly within Atlanta’s central core.  Both properties have matchless locations, conveniently located to employment, retail and restaurants.”

For more information, please visit www.apmanagement.net. Follow Atlantic | Pacific Companies on Facebook and Twitter.

For more information, visit www.apmanagement.net or contact Randy Weisburd at rweisburd@apmanagement.net.

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

Jessica Wade Pfeffer / Jessica Wade Inc.

Jessica@jessicawadeinc.com

305.804.8424

Megan Sedlacek / Jessica Wade Inc.

Megan@jessicawadeinc.com

305.456.0483

CraneSpotters.com Wins Tech Award For New Preconstruction Condo Website

Peter Zalewski

MIAMI, FL -- Less than five months after the August 2013 launch of version 2.0 of CraneSpotters.com, the South Florida preconstruction condo projects website created by real estate analyst and columnist Peter Zalewski of CondoVultures.com has won the "2013 Tech Product Of The Year" award from the Miami Association Of Realtors.

Zalewski - who won the "2011 Market Advisor Of The Year" award from the Miami Association Of Realtors - and his team from CraneSpotters.com are scheduled to be honored at an awards ceremony during the 2014 Miami Realtors Inaugural & Awards banquet scheduled from 10.30 am to 3.30 pm on January 31 at Jungle Island on Watson Island, just east of Greater Downtown Miami.

CraneSpotters.com is an interactive website with a searchable database - that relies on public records and private research - to profile and plot on a 3-D map the nearly 190 proposed condo towers with more than 25,000 units slated to be developed east of Interstate 95 in Miami-Dade, Broward, and Palm Beach counties.

The subscription-based CraneSpotters.com website - that offers free access exclusively to the 31,000 members of the Miami Association Of Realtors under a vendor agreement - has emerged as the official preconstruction condo projects source for South Florida's newest construction boom.

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

Condo Vultures® LLC

425 NE 22nd Street

 Suite 409,

Downtown Miami, Florida, 33137.

800-750-0517.

Cushman & Wakefield Reports U.S. Office Leasing Activity Rebounds for Strong Close to 2013

NEW YORK, ny – Jan. 22, 2014 – New leasing activity in U.S. office markets rebounded in the fourth quarter of 2013 with 19.5 million square feet of activity, the highest quarterly jump in a year, according to Cushman & Wakefield’s fourth quarter statistics for the U.S. office market.

Overall leasing activity for the U.S Central Business District (CBD) office market totaled 68.1 million square feet for the year with an additional 137.8 million square feet of suburban activity, an increase of 5.9 million square feet from 2012.

Maria Sicola

New York’s Midtown Manhattan office market paced the nation with 4.5 million square feet of leasing activity in the fourth quarter. Downtown Manhattan (1.8 million), Chicago (1.3 million), Boston (1.2 million) and San Francisco (1.2 million) each saw leasing activity surpass one million square feet of activity for the quarter.

Total leasing activity in San Francisco totaled two million square feet for the quarter, bringing year-to-date leasing up to 7.2 million square feet – a record leasing year for the market whose 10-year average was only 5.8 million square feet.

“The technology and the energy markets remain strong,” said Maria Sicola, Executive Managing Director and Head of Americas Research for C&W.

“San Francisco, Boston, Houston and Denver are the markets that are seeing quite a bit of the activity and remain resilient. It’s a great start for those markets, but the other more pressing factor is going to be other industries recovering and expanding beyond technology and energy.”

Midtown Manhattan led the nation in overall leasing activity, with 16 million square feet of activity year-to-date. That total was 9.8 million more than Downtown Manhattan, which was second in C&W’s national rankings. Houston paced suburban markets with 13.9 million square feet of activity for 2013.

Manhattan Midtown

The overall vacancy rate for U.S. CBDs changed very little year-over-year, rising from 13.1 percent in the final quarter of 2012 to 13.5 percent in the fourth quarter of 2013.

The quarterly change was even less, rising 0.1 percentage points from the third quarter of 2013. Overall, 17 U.S. CBDs saw a drop in vacancy for the quarter. The largest quarter-over-quarter declines were in Hartford, Conn. (down 7.03 percent), Phoenix (down 2.6 percent) and Silicon Valley (down 1.6 percent).

Overall rental rates averaged $41.74 per square foot for U.S. CBDs for the year – a seven percent increase of $2.79 from 2012. Quarter-over-quarter, national rental rates rose $0.77.

Manhattan’s Midtown South market saw the highest quarterly change, leading the nation with $62.61 per square foot asking rents, a $2.27 change quarter-over-quarter. Downtown Manhattan was just behind it with a $2.26 change, totaling $48.26per square foot rental rate for the fourth quarter of 2013.

San Francisco's Golden Gate Bridge

Midtown Manhattan, Midtown South, San Francisco, Fairfield County, Conn., Washington D.C., Downtown Manhattan and Boston were the only U.S. CBDs to outpace the national rental rate average. Overall absorption – the net change in occupied space – was positive year-over-year for U.S. CBDs, with 16 markets seeing positive overall absorption for the year.

That gain was slim, however, with overall CBD absorption only totaling 437,844 square feet. Chicago (1.3 million) and Boston (1.1 million) saw the nation’s largest changes in CBD absorption.

“The absorption was very strong in the suburbs, while the CBDs struggled,” Ms. Sicola said. “Fortunately, there was a rebound, and it is a reflection of the national movement into our cities. We are seeing tenants that want to migrate into the CBDs. That’s mostly a core market phenomenon in places like Boston and San Francisco.”

Chicago's South Loop District

Construction in U.S. CBDs saw 6.4 million square feet of completions in 2013 with two million of that total coming directly from Downtown Manhattan.

Only six markets saw construction activity in their CBDs. An additional 12.8 million square feet is expected to be completed over the next two years, with Downtown Manhattan seeing the most gain with three million square feet of construction expected in 2014.

Silicon Valley’s suburban market will also see a surge in construction this year, with an additional three million square feet expect for completion

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

david.meyer@cushwake.com

HFF closes sale of Brooklyn, NY high street retail property

The Edge, Williamsburg Section, Brooklyn, NY

  

Andrew Scandalios

NEW YORK, NY – HFF announced today that it has closed the sale of the retail condo portion of The Edge, a waterfront mixed-use development complex totaling approximately 64,000 square feet of retail space in Williamsburg (Brooklyn), New York.

                HFF marketed the property exclusively on behalf of the seller, Douglaston Development.  Madison Marquette acquired the property for $45,500,000.  This represents Madison Marquette’s second New York City area acquisition since Arvind Bajaj and Ryan Colbert joined the firm’s New York City office.

                The Edge stretches from North 5th to North 7th Streets along the Williamsburg waterfront, adjacent to the North Williamsburg Ferry Terminal in Brooklyn.

Jose Cruz

 Completed in 2010, the property is part of The Edge mixed-use project, a master-planned development featuring condominiums and residential units in four buildings, including two towers along the waterfront.

The retail condominium is long-term leased to Brooklyn Harvest Market, CVS Pharmacy, Ride Brooklyn and Fabbrica Café, among others. 

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

Jeffrey Julien

                Douglaston Development, Levine Builders and Clinton Management coordinate cohesively to acquire property, develop it to its full potential, and manage it creatively to assure that its investments achieve and maintain maximum value and profitability.

Madison Marquette is a private real estate investment and operating company. 

Kevin O'Hearn

Founded in 1992, the firm’s primary focus is infill retail and mixed-use assets in major markets throughout the United States.

 Madison Marquette specializes in enhancing the value of its projects through its integrated investment and services platform offering sourcing, acquisition, asset management, leasing, property management, marketing, and development functions.

Madison Marquette is headquartered in Washington DC and covers its key markets with senior investment and operating professionals in major cities around the country, including New York, San Francisco, Los Angeles, Seattle, Philadelphia, Dallas, and South Florida.

Rob Rizzi

For more information on Madison Marquette, please visit the firm’s website at www.madisonmarquette.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

tel (main) 617-338-0990 | (direct) 617-338-1572 | cel 617.543.4873 | www.hfflp.com

krmurphy@hfflp.com

HFF expands Los Angeles debt placement team with multi-housing specialist Marc Schillinger

Marc Schillinger

LOS ANGELES, CA – HFF announced today that Marc Schillinger has joined the firm as a director in its Los Angeles office.  Mr. Schillinger will specialize in multi-housing debt and equity placement transactions primarily in Los Angeles. 

                Prior to joining HFF, Mr. Schillinger was a senior vice president with George Smith Partners where he originated, marketed and closed debt and equity transactions with a focus on multi-housing transactions 

During 2012-2013 he closed approximately 112 transactions, which included office, retail, and industrial properties.

                Also joining the firm with Mr. Schillinger is Andrew Hornblower, who will be a real estate analyst for the firm’s debt placement group.  Mr. Hornblower previously worked with Mr. Schillinger as a real estate investment banking analyst at George Smith Partners and is a graduate of the University of Southern California.

                “HFF’s west coast offices have grown tremendously over the past year and with the addition of Marc and Andrew, we now add multi-housing debt specialization to our Los Angeles office.

Paul Brindley

“ This team will complement the platforms and specialties HFF already has in place and will continue to assist with building upon all HFF has accomplished across Southern California,” said Paul Brindley, senior managing director and co-head of HFF’s Los Angeles office.

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

tel (main) 617-338-0990 | (direct) 617-338-1572 | cel 617.543.4873 | www.hfflp.com

krmurphy@hfflp.com

HFF arranges $25 million construction loan for multi-housing development in Boston’s northwest suburbs

Construction site for planned 200-unit Princeton Westford Apartment Homes, Westford, MA

Lauren O'Neil

BOSTON, MA – HFF announced today that it has arranged a $25 million construction loan for the development of Princeton Westford Apartment Homes, a 200-unit, garden-style multi-housing development in Westford, Massachusetts.

                HFF worked exclusively on behalf of the borrower, an affiliate of Princeton Properties & Guggenheim Real Estate LLC, to secure the three-year, floating-rate construction loan through First Niagara Bank’s Boston office.  The loan has two one-year extension options.

                Princeton Westford Apartment Homes is located on 90 acres at 16 Littleton Road in Westford, a northwest suburb of Boston.

 Due for completion in 2014, the property will feature four different floor plans of one- and two-bedroom units averaging 1,128 square feet each.

 Each apartment will have granite countertops, under mount dual-bowl kitchen sinks, gooseneck faucets, and espresso stained wood cabinetry. Community amenities will include a 3,800-square-foot clubhouse offering fitness, business and social centers with a resort-style pool and play area. 

Riaz A. Cassum

There will be private garages available for lease and surface parking. The development also has the potential for a 6,000-square-foot retail building along the access driveway housing a farmer’s market-style tenant. 

The property is close to State Route 110, Interstate 495, Nashoba Valley Ski Area, Kimball Farm, and Great Brook Farm State Park, which offers 1,000 acres for hiking, biking, horseback riding, canoeing and fishing.  It is also situated within three miles of one million square feet of office space with firms such as Red Hat, IBM, Netscout and Juniper Networks.

                The HFF team representing the borrower was led by senior managing director Riaz Cassum and director Lauren O’Neil.

                “Princeton and Guggenheim are building an exciting project in a strong market that has seen little new supply,” said O’Neil.  “The attractive financing provided by First Niagara will ensure a quick and timely completion, with the project delivering at the perfect time in the cycle.”

                Founded in 1973 by James Herscot, Princeton Properties of Lowell, Massachusetts acquires, builds, renovates, leases and manages apartment communities and corporate furnished apartments.  Currently, Princeton Properties owns and manages more than 6000 apartment homes for rent in Massachusetts, New Hampshire, Maine and Georgia.

James Herscot

                Guggenheim Real Estate, founded in 2001, invests across a wide spectrum of the real estate market including: direct real estate investments, REIT securities, private funds, secondary market funds and partnership units, preferred equity and mezzanine debt financing, and commercial mortgage backed securities.

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

tel (main) 617-338-0990 | (direct) 617-338-1572 | cel 617.543.4873 | www.hfflp.com

krmurphy@hfflp.com

HFF closes sale of Shops at 95th & Cicero in Chicago, IL

Shops at 95th & Cicero, Evergreen Park/Oak Lawn Neighborhood, Chicago, IL

Amy Sands

CHICAGO, IL - HFF announced today that it has closed the sale of the Shops at 95th & Cicero, a 77,468-square-foot retail center in Chicago.

HFF represented the seller in the transaction to ACF Property Management, Inc. arranged by GDA Companies who purchased the asset free and clear of debt.

The Shops at 95th & Cicero is located in Chicago’s Evergreen Park/Oak Lawn neighborhood, which is a first ring suburb of Chicago about 15 miles south of the city center.

 Renovated in 2006, the property is 100 percent leased to tenants including Sports Authority, Staples, Men’s Wearhouse, Corner Bakery Café and Verizon.

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

“The Shops at 95th & Cicero has arguably the best retail location within its submarket, situated at the intersection of 95th Street and Cicero Avenue.  The intersection sees the highest daily traffic counts along Cicero Avenue,” said Sands. 

Daniel Kaufman

“In addition, the property benefits from its dense infill location with over 500,000 people within a five-mile radius of the property,” said Kaufman.

                GDA Companies is a commercial real estate acquisitions company based in Greenwood Village, Colorado that owns and operates more than 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

tel (main) 617-338-0990 | (direct) 617-338-1572 | cel 617.543.4873 | www.hfflp.com

krmurphy@hfflp.com

HFF closes $48.6 million sale of two GSA leased office buildings in Rockville, MD

12420 Parklawn Drive, Rockville, MD

WASHINGTON, D.C. – HFF announced today that it has closed the sale of two office buildings totaling 148,742 square feet in Rockville, Maryland.

5630 Fishers Lane, Rockville, MD

HFF marketed the properties exclusively on behalf of the seller, The JBG Companies.  NGP V Fund LLC purchased the properties for a total of $48.6 million in two separate transactions. 

Both buildings are located near the intersection of Twinbrook Parkway less than one half mile from the Twinbrook Metro Station (Red Line) south of downtown Rockville. 

Fully renovated in 2009, 12420 Parklawn Drive is a four-story, 93,014-square-foot office building that is 100 percent leased to the General Services Administration (GSA) through December 2020.  Situated on 2.4 acres, the building is LEED Gold certified. 

Renovated in 1997, 5630 Fishers Lane is a two-story, 55,728-square-foot building that is 100 percent leased to the GSA through February 2023. 

Jim Meisel

The HFF investment sales team representing the seller was led by senior managing directors Jim Meisel, Dek Potts and Andrew Weir along with executive managing director Stephen Conley.

Headquartered in Chevy Chase, Maryland, The JBG Companies is a private real estate investment firm that develops, owns and manages office, residential, hotel and retail properties. 

The company has more than $10 billion in assets under management and development in the Washington metropolitan area.  Since 1960, JBG has been active in the communities where it invests, striving to make a positive impact. 

Dek Potts

More information can be found by visiting the company's website: www.JBG.com, or by calling 240.333.3600.

The NGP V Fund is managed by NGP V Management, a private real estate firm whose principals have vast experience in the commercial real estate business, including 20+ years in the highly specialized government real estate business.

Andrew Weir

NGP's latest endeavor, the NGP V Fund, represents the current government real estate program managed by the firm's principals. NGP funds have acquired, developed and managed government-leased assets totaling 12.5 million square feet and valued at more than $2.5 billion. 

More information can be found by visiting the company's website www.ngpv.com.  

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

Olivia Hennessey

Public Relations Coordinator

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

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF closes sale of 12012 Wickchester in Houston’s Energy Corridor

Woodbranch Building, 12012 Wickchester, Houston, TX

Dan Miller

HOUSTON, TX – HFF announced today that it has closed the sale of the Woodbranch Building, a 109,471-square-foot office building located at 12012 Wickchester in Houston’s Energy Corridor submarket.

HFF marketed the property on behalf of the seller, an affiliate of Parkway Properties, Inc.  CapRidge Partners, LLC purchased the building for an undisclosed amount free and clear of debt.

12012 Wickchester is situated on approximately 3.7 acres near the northwest corner of Kirkwood and Interstate 10 in the quickly growing Energy Corridor submarket.  Since 2002, the property has undergone significant capital improvements and is 100 percent leased to a variety of tenants.

The HFF team representing the seller was led by senior managing director Dan Miller and director Marty Hogan.

Marty Hogan 

CapRidge Partners, LLC, is a value office investor and manager headquartered in Austin, Texas, and serving the major markets throughout the state.

Founded in 2012 by Steve LeBlanc and Tom Stacy, two proven leaders in real estate, investments and commercial operations with nearly 40 years of combined experience, the company is dedicated to providing superior services to its investors and clients.

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

Olivia Hennessey

Public Relations Coordinator

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

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com