HFF arranges $7.26 million financing for retail strip center in North Las Vegas, NV

Craig Promenade, 525--785 West Craig Road, North Las Vegas, NV

IRVINE, CA – HFF announced today that it has arranged $7.26 million in financing for Craig Promenade, an 86,395-square-foot retail strip center in North Las Vegas, Nevada.

John Chun

HFF worked on behalf of RREF II-KI, Promenade, LLC, a partnership between Kismat Investments and Rialto Capital, to secure the three-year, floating-rate loan through RRA Capital Management.  Loan proceeds were used to acquire the property.

The property is situated on 10.81 acres at 525-785 West Craig Road across from Craig Ranch Regional Park.  

Completed in 2005, Craig Promenade is leased to tenants such as Big Lots, MetroPCS and Sinclair gas station.

The HFF team representing the borrower was led by director John Chun and real estate analyst Sebastian Trujillo.

Sebastian Trujillo

Kismat Investments is a western U.S.-focused, value add, real estate investment management platform.  The company focuses on identifying opportunities to acquire existing properties in improving submarkets at prices below replacement cost, with the opportunity to create value through stabilization of the asset.

Rialto Capital Management (“Rialto”), a wholly owned subsidiary of Lennar Corporation (NYSE: LEN), is a vertically integrated real estate investment management company focused on distressed and value-add investments and asset management, workout and turn-around strategies. 

Rialto was formed in 2007 and, since its inception, has participated in the investment of billions of dollars in distressed real estate assets and commercial mortgage-backed securities (“CMBS”).  Rialto is headquartered in Miami, Florida with offices across the United States. 

Rialto is led by director Tony Del Grippo and can be reached at 303-520-2896 or tony.delgrippo@rialtocapital.com.

 For more information, please visit www.rialtocapital.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 hires Michael Tabor as a director in its Tampa, FL office to focus on debt and equity transactions

 

Michael Tabor

TAMPA, FL – HFF announced today that Michael Tabor has joined the firm as a director in its Tampa office.  Mr. Tabor will specialize in arranging debt and equity placement transactions in the southeastern United States.

               Mr. Tabor has more than nine years of experience in the commercial real estate industry and has been involved with more than $1 billion of commercial real estate financing transactions throughout his career. 

Prior to joining HFF, Mr. Tabor was a loan officer - assistant vice president at Walker & Dunlop, where he assisted with managing the Florida capital markets group.

 Earlier in his career, he helped launch America Real Estate Capital, a Florida-based life insurance company lender

.

 Mr. Tabor began his career with GMAC Commercial Mortgage and was also a member of the U.S. Army.  He is active member of Urban Land Institute, International Council of Shopping Centers, the Industrial Association for Dade County and the National Association of Industrial and Office Properties.

  He received his Bachelor of Science in Business Administration from Northeastern University. 

Daniel C. Peek

 “Michael is a highly driven professional with extensive commercial real estate finance experience and we are eager to have him on board as he will undoubtedly provide valuable services to our clients both locally and nationally.”

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 $41.41 million financing for five-building office and industrial portfolio in three states

Northmont Distribution Center, Duluth, GA

ATLANTA, GA – HFF announced today that it has arranged $41.41 million in financing for a five-building office and industrial portfolio totaling approximately 700,000 square feet located in Texas, Georgia and Florida.

Riverpark Distribution Center, Fort Worth, TX

HFF worked exclusively on behalf of the sponsor, FRAPAG America, Inc., to secure the10-year, fixed-rate loan through The Royal Bank of Scotland (RBS).  Proceeds were used to refinance maturing debt on the properties.

Individual property details are listed below:

                                                                                                                                                                Size                           Year Built          % Leased  

Riverpark Distribution Center                                300,566 SF              2004                     100%

 15000 Grand River Road

Fort Worth, Texas

Northmont Distribution Center                             236,070 SF              2006/2007              100%

2205 Northmont Pkwy./2115 Evergreen Blvd.

Atlanta (Duluth), Georgia

Waterview Office Buildings                                    162,721 SF              2002/2007              92%

10748 & 10752 Deerwood Park Blvd.

Jacksonville, Florida                                               

Waterview Office Buildings, Jacksonville, FL

The HFF team representing the borrower was led by senior managing director Mark Sixour and associate director Bill Ireland.

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

Englewood Construction Food Service Group Announces Four Food-Related Projects in the Midwest

  

Trader Joe’s at 1600 Milwaukee Avenue, Libertyville, IL

William Di Santo

CHICAGO, IL (Feb. 3, 2014) – Englewood Construction, one of the country’s leading commercial construction firms, has announced its food service group has begun work on two new food service-related projects and completed two more, with three in the Chicago market and one in Wixom, Mich.

“Interior build outs and remodeling projects in the restaurant and grocery markets kept us busy last year and that trend is continuing in 2014,” said William Di Santo, president of Lemont, Ill.-based Englewood Construction. “Customer demand and the need for national food service providers to stay competitive are driving these projects.”

Rosemont, Ill.-based US Foods, Inc., a leading food company and distributor to restaurants, healthcare, hospitality, government and educational facilities, hired Englewood Construction to remodel its test kitchen and training facility in Wixom, Mich.

In early December, Englewood began the interior remodel of the 1,800-square-foot space to accommodate the latest kitchen and training equipment. The project is scheduled to be complete in late February. Wisconsin-based ESI Design Services is the project architect.

 “US Foods offers more than 350,000 products that are “Keeping Kitchens Cooking” nationwide,” Di Santo said.

McCormick Place, Chicago, IL

 “Development of these products originates in the company’s test kitchens and training facilities, so our goal was to create an environment that fosters creativity and cutting-edge culinary discoveries.”

US Foods operates over 60 test kitchens across the country where US Foods chefs help customers stay abreast of culinary trends, increase sales and manage costs.

 Another Englewood project, which began in mid-December, is the interior build-out of the 23rd Street Café at McCormick Place in Chicago. Savor, the food and beverage supplier to McCormick Place, hired Englewood for the 4,379-square-foot build-out, which includes adding a bridge walkway in the existing concourse. Designed by Wilmette, Ill.-based Sarfatty Architects, it is scheduled to be complete in early-March.

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

Mark Thomton, mthomton@taylorjohnson.com, 312-267-4523

www.hardhatchat.com

Chatham Lodging Announces Fourth Quarter Earnings Call for Feb. 19

  

Jeffrey H. Fisher

PALM BEACH, FL—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on upscale extended-stay hotels and premium-branded select-service hotels, announced it will report fourth quarter 2013 financial results on Tuesday, February 18, 2014, following the close of the market. 

On Wednesday, February 19, 2014, at 11:00 a.m. ET, Jeffrey H. Fisher, Chatham’s chief executive officer, and Dennis M. Craven, its chief financial officer, will host a conference call to review fourth quarter 2013 financial results.

Dennis M. Craven

Shareholders and other interested parties may listen to a simultaneous webcast of the conference call on the Internet by logging onto Chatham’s Web site, www.chathamlodgingtrust.com, or www.streetevents.com, or may participate in the conference call by dialing 1-800-762-8779, reference number 4667024. 

A recording of the call will be available by telephone until midnight on Wednesday, February  26, 2014, by dialing 1-800-406-7325, reference number 4667024.  A replay of the conference call will be posted on Chatham’s website.

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

Chris Daly                                                            

Daly Gray Public Relations                                  

(Media)                                                                 

chris@dalygray.com 

(703) 435-6293                                                     

 Dennis Craven

 Chief Financial Officer

 (Company)

dcraven@cl-trust.com

 (561) 227-1386              

400 New Condos Unsold In Greater Downtown Miami From Crash Of 2007

  

 

MIAMI, FL --- Some seven years after the South Florida condo crash first began in 2007, less than 400 new units created in Greater Downtown Miami during the last real estate boom remain under the control of the original developers as of the end of 2013, according to a new report from CondoVultures.com.

Peter Zalewski

New condo sales in Greater Downtown Miami transacted at a pace of nearly 26 units per month between January and December of 2013 compared to about 80 units per month in the same 12-month period in 2012, according to the report based on the Condo Vultures® Official Condo Buyers Guide To Miami™. 

Even with the dramatically slower pace, buyers still purchased about 310 new units in Greater Downtown Miami for nearly $146.1 million - an average price of about $478 per square foot - between January and December of 2013 compared to an average price of about $407 per square foot in the same period in 2012, according to an analysis based on Miami-Dade County Clerk of the Court records.

"It has taken several years but developers finally seem to be on their way to selling out the overhang of condo inventory that was created during the previous real estate boom," said Peter Zalewski, a principal with the Greater Downtown Miami-based real estate consultancy Condo Vultures® LLC.

"At the 2013 sales pace, Greater Downtown Miami could very well be sold out of boom-era developer units in the first half of 2015.

“The unknown question going forward is whether buyers will choose existing unsold developer condos from the last boom when more than 13,600 new units are currently proposed for the Greater Downtown Miami market."

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

Condo Vultures®

425 NE 22nd St.,

Suite 409,

 Downtown Miami, FL 33137.

800-750-0517.

Home Flipping Increases 16 Percent in 2013 and Average Gross Profit on Flips Rises to More Than $62,000 in Q4

IRVINE, CA  — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its Year-End and Q4 2013 Home Flipping Report, which shows 156,862 single family home flips — where a home is purchased and subsequently sold again within six months — in 2013, up 16 percent from 2012 and up 114 percent from 2011.

Homes flipped in 2013 accounted for 4.6 percent of all U.S. single family home sales during the year, up from 4.2 percent in 2012 and up from 2.6 percent in 2011.

Daren Blomquist

Flips accounted for 3.8 percent of all sales in the fourth quarter, down slightly from 3.9 percent of all sales in the third quarter and down from 7.1 percent of all sales in the fourth quarter of 2012 — the highest percentage of sales represented by flips in a single quarter since RealtyTrac began tracking flipping data in the first quarter of 2011.

The average gross profit for a home flip — the difference between the flipped price and the price the flipper purchased the property for — was $58,081 for all U.S. homes flipped in 2013, up from an average gross profit of $45,759 in 2012. 

The average gross profit for homes flipped in the fourth quarter was $62,761, up from $52,746 in the fourth quarter of 2012.

The report also shows the biggest increases in flipping nationwide occurred on homes with a flipped price of $400,000 or more. Although flipping increased across all price ranges, flips on homes with a flipped sale price above $400,000 increased 36 percent from 2012, while flips on homes with a flipped sale price at or below $400,000 increased 17 percent from 2012.

The average time to complete a flip nationwide was 84 days in 2013, down from 86 days in 2012 and down from 100 days in 2011.

“Strong home price appreciation in many markets boosted profits for flippers in 2013 despite a shrinking inventory of lower-priced foreclosure homes to purchase,” said Daren Blomquist, vice president of RealtyTrac.

“For the year 21 percent of all properties flipped were purchased out of foreclosure, but that is down from 27 percent in 2012 and 32 percent in 2011.

“Meanwhile flipped homes were still purchased at an average discount of 13 percent below market value in 2013, the same average discount as 2012, indicating that investors are finding discounted buying opportunities outside of the public foreclosure process — particularly in those markets with the biggest increases in flipping for the year.”

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

Jennifer von Pohlmann

949.502.8300, ext. 139

jennifer.vonpohlmann@realtytrac.com

Atlantic | Pacific Companies Acquires New Property in San Marcos, TX With Addition of The Palazzo

The Palazzo Apartments, Wonder World Drive, San Marcos, TX

Mark Briggs

MIAMI, FL, Jan. 31, 2014) – Atlantic | Pacific Companies (A | P Companies) is pleased to announce its continued expansion in Texas with the acquisition of The Palazzo.  

The Palazzo transaction marks A|P Companies’ fifteenth acquisition within the past 24 months and represents its fifth purchase in Texas.

 The Palazzo, located on Wonder World Drive in San Marcos, TX is a 300-unit, Class A garden style apartment community featuring one, two and three bedroom floor plans. 

The gated community includes two resort style swimming pools, fitness center and yoga studio, business center, game room, basketball/sport court, playscape, and an expansive clubhouse.

San Marcos is located 25 minutes south of Austin and is situated along the “IH-35 Growth Corridor” directly between Austin and San Antonio.  San Marcos, among other things, is home to Texas State University (TSU) and the Central Texas Medical Center.  TSU is the fifth largest university and fastest growing school in Texas with an enrollment of more than 34,000 students.

 A | P Companies plans to make select common area improvements and unit interior upgrades. Atlantic | Pacific Management, the property leasing & management platform under A | P Companies, will handle all property management responsibilities for both properties.

LBJ Student Center at Texas State University
San Marcos, TX

Mark Briggs, Senior Managing Director at A | P Companies, says “A | P Companies is excited to add another quality asset to its rapidly growing Texas portfolio.  The Palazzo complements yet diversifies our existing holdings in Austin and Dallas.”

  

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

Hendricks-Berkadia Alabama Office Capped 2013 with Sales of Three Apartment Communities Totaling 367 Units for $14,610,000

Birmingham, AL -- Hendricks-Berkadia Real Estate Advisors, which ranks as one of the leading multi-family investment banking and research companies in the nation, recently negotiated sales of Three Apartment Communities totaling 367 Units for $14,610,000. 

Hal Warren

 The 180-unit Chadwick Place in Huntsville sold for $7,450,000 as Partner David Oakley from the Alabama Office, Partners Hal Warren and Cole Whitaker from the Orlando Office and Vice President Jason T. Stanton in the firm’s Tampa office represented the seller, 

The Hallmark Companies of Atlanta. The property was sold to a Southeast Holdings of Dexter, Mo.

 Oakley represented the seller, Ruffner Mountain Management of Birmingham, Al., in the sale of Alpine Village.  Buyer Cofinance Inc. of Hackensack, N.J., purchased the 160-unit apartment community in Hoover, Ala., for $6,500,000, while also assuming the existing Fannie Mae loan. 

 Senior Investment Advisor David Etchison and Senior Associate Josh Jacobs in the Alabama Office of Hendricks-Berkadia, represented a California seller in the sale of the 27-unit Medford Manor.

 The December sales bring the annual sales total to 39 communities brokered by the Alabama Office of Hendricks-Berkadia. The more than 9,050 units sold for nearly $510 million in 2013.

Cole Whitaker

 Additionally, the Oakley and the Florida teams brokered the sale of seven properties of the 11-property Gulf Coast Portfolio. 

With a combined 1,929 units, the apartment communities located throughout Alabama and Florida sold for a total of $147,700,000, or $76,568 per unit, in November.

 Also in the fourth quarter, another portfolio sold for $105,900,000 involving five Birmingham properties. 

The Alabama Office brokered the Magic City Five Portfolio between the seller, Abbey Residential Services Inc. of Birmingham, and buyer, Goff Capital Partners of Centennial, Co. 

The communities, ranging from 168 units to 649 units, were more than 90 percent occupied at the time of the sale.

 Economic indicators are expected to strengthen in the Birmingham apartment market over the coming year.

Jason T. Stanton

Payrolls are expected to expand by 4,400 new jobs in 2014. At the same time, the demand for apartments will increase with 280 newly occupied units this year and more than 600 units absorbed in 2015.

 The rising leasing activity will support increased asking rents, which are projected to grow 2.7 percent to $860 per month by year-end, the fastest rate in seven years.

Moreover, construction activity will remain relatively light as just 540 units are projected to come online throughout 2014.

Hendricks-Berkadia is one of the nation’s largest multifamily investment sales firms.  Operating from more than 60 offices, the company offers clients access to experienced professionals nationwide whose singular focus is to assist them in maximizing the value and managing the risk of their multifamily properties.

 Hendricks-Berkadia’s success is built on a solid platform of proven, traditional real estate brokerage strategies and values backed by unparalleled access to capital and financial expertise, concentrated exclusively on the multifamily industry.

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

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

Berger Commercial Realty Broker Judy Dolan Arranges $1.3 million Sale of Sebring Retail Center in Sebring, FL

Judy Dolan

FORT LAUDERDALE, FL - Berger Commercial Realty broker Judy Dolan arranged the sale of a REO fractured retail condo in Sebring for $1,375,000 on behalf of SA Challenger.

 The buyers, Bernard Hutman, Herbert Wayne Hutman, and Michael Hutman, plan to rehab the retail center and keep it as an investment. The 50,850-square-foot site is located at 3750 US Highway 27 North, Sebring, FL 33870.

 Dolan also handled the $20,000 sale of REO-land in the Gould's section of Miami for an undisclosed seller.

 KGS Stores, Inc. bought the 7,320-square-foot site, which is vacant and zoned for commercial use, and plans to build a drive-through convenience store on the property.

 Experienced in handling REO sales throughout the state, Dolan has represented banks in selling land, office and retail properties in cities such as Miami, Fort Lauderdale, Orlando, Bradenton, Clearwater Beach, Dunedin and St. Petersburg. Prior to becoming a licensed real estate broker and vice president of Berger Commercial Realty, she handled real estate transactions as a licensed Florida attorney.

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

Marielle Sologuren

msologuren@piersongrant.com

(954) 776-1999, ext. 226

www.bergercommercial.com

John A. Lambiase to Retire from the Annaly Capital Management, Inc. Board of Directors

Wellington J. Denahan

NEW YORK, NY --(BUSINESS WIRE)-- Annaly Capital Management, Inc. (NYSE:NLY) today announced that John A. Lambiase will not stand for re-election at the Company’s 2014 Annual Meeting of Shareholders.

Mr. Lambiase is a non-independent director and has served on the board of directors since January 1997. His departure will be effective on the day of the Company’s 2014 Annual Meeting of Shareholders.

“I want to thank John for taking a chance on a new startup some 17 years ago. Over his many years of service, he has provided valuable expertise, sound judgment and solid guidance,” said Wellington J. Denahan, Chairman and Chief Executive Officer of Annaly. “I hope he can now truly enjoy his retirement.”

Annaly’s principal business objective is to generate net income for distribution to its shareholders from its investments.

 Annaly is a Maryland corporation that has elected to be taxed as a real estate investment trust (“REIT”). Annaly is managed and advised by Annaly Management Company LLC.

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

Annaly Capital Management, Inc.

Investor Relations

1-888-8Annaly

www.annaly.com

Franklin Street Real Estate Services Brokers Sale of 102 Multifamily Units in South Florida For $8.25 million

  

Deme Mekras

MIAMI, FL, Jan. 31, 2014 —  Franklin Street Services, a full-service commercial real estate firm with offices in Tampa, Atlanta, Miami and Jacksonville, recently brokered the sale of 102 multifamily units for a total of $8.25 million.

The units are located in three different apartment communities in Miami, Hialeah, and Hollywood (Hollywood Beach).  The sales were transacted by the team of Deme Mekras, Elliot Shainberg, and David Reinke. All of the buyers were foreign investors.   

 In Hialeah, Franklin Street represented the seller of the Jaclyn Apartments, a two-building, 72-unit complex located at 1315 and 1345 West 29th Street. 

The purchase price was $6.05 million or $84,027 per unit. The seller is Jaclyn LRP. The buyer was a Panamanian investor whose identity was not disclosed.

 “There is a lot of investor demand for apartment buildings of 50-plus units in Hialeah, and Jaclyn was one of those rare opportunities,” said Deme Mekras, regional managing partner of Franklin Street’s Miami office.

 “We generated eight written offers within three weeks of going to market, and as a result of the competition, the seller was able to achieve a premium price with tight terms and an expeditious closing.”

Elliot Shainberg

In Miami, Franklin Street’s South Florida Multifamily team arranged the bulk sale of 20 condominium units in a 68-unit building called Garden View located at 11000 SW 200th Street. 

Franklin Street represented the seller, Unique Yidios LLC, and buyer, Fly Away 2012 LLC. The sales price was $1,050,000 or $52,500 per unit. The buyer was from Buenos Aires, Argentina and purchased the properties all cash. 

 “Because the owner sold the units in bulk, we were able to secure more money per unit than other individual sales in the building,” said David Reinke, investment associate in Franklin Street’s Miami office. Reinke also noted that the buyer plans on renting out the units.

In Broward County, Franklin Street represented the seller of a 10-unit apartment building located at 343 Van Buren Street on Hollywood Beach. 

The sales price was $1,150,000 or $115,000 per unit. The seller was 720 Property LLC and the buyer is Van Buren Holdings Inc., also backed by a foreign investor who purchased the property all cash.

The apartment building is located just a block from the Atlantic Ocean and within a half-mile of the Margaritaville Hollywood Beach Resort which is currently under construction. 

David Reinke

 “With proximity to the water and a lot of redevelopment taking place, demand for multifamily investment is substantial right now on Hollywood Beach,” said Elliot Shainberg, senior director of Franklin Street’s Miami office.

 “Multifamily investment continues to be hot in South Florida,” said Mekras.  “We’re still seeing a lot of cash buyers from overseas who see a lot of opportunity here and regard U.S. real estate as a safe haven for capital. Many of them are coming from highly unstable economies and,  as a result, often see greater value in our property than local investors.”

 Mekras and his team anticipate strong demand for South Florida multifamily through 2014.

 Franklin Street is a family of real estate companies focused on delivering value-added solutions to meet the evolving needs of our clients. 

Through a collaborative philosophy of leveraging the resources, expertise, and experience of each of its divisions—Real Estate, Capital, Insurance and Management—Franklin Street offers unmatched value and optimal solutions for clients nationwide.

  

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

Todd Templin

Boardroom Communications

954-370-8999/954-290-0810

ttemplin@boardroompr.com

www.FranklinSt.com

.

Lincoln Brokers Leases by Crane Materials and Pinkerton & Laws at 1165 Northchase Parkway in Northwest Atlanta, GA

1165 Northchase Parkway, Marietta, GA

Hunter Henritze

 ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) has brokered two leases totaling more than 22,500 square feet at 1165 Northchase Parkway, a four-story building in Northchase Office Park in the Cumberland/Galleria submarket of northwest metro Atlanta.

Hunter Henritze, vice president of office leasing at Lincoln, and Jeff Henson, a senior associate in the firm’s Office Leasing Group, represented the landlord, JP Partners, in the transactions.

The transactions include the following deals:

• Crane Materials International, which manufactures products for the construction and engineering industries, signed a new, five-year lease for 14,484 square feet. The lease will begin this summer. Ryan Cone of Cone Middour Partners represented the tenant.

Jeff Henson

• Pinkerton & Laws, a general contractor, extended and expanded its lease to a total of 8,093 square feet. The five-year renewal began late last year. Gary Waddell of Cushman & Wakefield represented the tenant.

 Lincoln was awarded the exclusive leasing and property management assignment for 1165 Northchase Parkway last year and oversaw an extensive renovation of the building’s lobby, restrooms and common areas. 

In addition, several high-quality spec suits now give smaller tenants a number of move-in-ready options to consider.

Northchase Office Park also offers close proximity to interstates 75 and 285; a pond, trails and picnic area; ample free surface parking; and building signage opportunities.

Ryan Cone

“We are excited about the leasing activity that 1165 Northchase is enjoying,” Henritze said. “The renovations for this building have truly been transformative, and 1165 Northchase Parkway now represents the best value amongst its competitive set in Cumberland/Galleria, bar none!

“We expect the building’s appeal to be broad and leasing momentum to continue to grow.”

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

Stephen Ursery

The Wilbert Group

404-405-2354

sursery@thewilbertgroup.com

www.lpcsoutheast.com.

http://blog.lpcsoutheast.com.

HFF arranges construction financing for luxury condominium development in Boston’s Seaport District

Rendering of planned Twenty Two Liberty condominiums at Fan Pier, Boston, MA

John Fowler

BOSTON, MA – HFF announced today that it has arranged construction financing for Twenty Two Liberty, a 14-story, luxury residential tower at Fan Pier, featuring sweeping views of Boston Harbor and the city skyline from Boston’s Innovation District. 

               HFF worked on behalf of the borrower, a venture between The Fallon Company and Massachusetts Mutual Life Insurance Company (MassMutual), as advised by Cornerstone Real Estate Advisers, to secure the construction loan through Wells Fargo Bank. 

The Twenty Two Liberty residences will be situated on the most seaward parcel of the Fan Pier mixed-use development, offering 270-degree vistas of Boston’s cityscape on one side and the Boston Harbor on the other. 

Due for completion in late 2015, the property will also include 15,025 square feet of ground-floor retail and a 282-space, below-grade parking structure. 

Designed by world-renowned CBT Architects, Twenty Two Liberty will feature condominiums with several configurations, from studio pieds-a-terre to three-plus bedroom homes. 

Anthony Cutone

Residents of Twenty Two Liberty will have access to 24-hour concierge support, private shuttle service around the city, and will be within steps of Fan Pier’s fine dining and retail establishments.

The HFF team representing the borrower was led by executive managing director John Fowler, managing director Anthony Cutone and real estate analyst Toby Banta.  The Wells Fargo team was led by Shelly Gouin. 

Founded in 1993, The Fallon Company is a Boston-based commercial real estate development firm. 

In 2005, it acquired one of the most sought after waterfront sites in the United States – Fan Pier, a 21-acre property spanning nine city blocks directly overlooking Boston’s working harbor.

 When fully complete, Fan Pier will consist of more than three million square feet of residential, commercial, hotel, retail and civic/cultural space with unobstructed views of the waterfront and Boston skyline, as well as direct access to all means of transportation – including South Station, a water taxi to Boston’s Logan Airport and the Financial District, Hubway bikes onsite and easy access to several interstate highways. 

Additional projects developed by The Fallon Company include The Westin Boston Waterfront Hotel, Park Lane Seaport, ONE Marina Park Drive, Fifty Northern Avenue and Eleven Fan Pier Boulevard.  www.falloncompany.com.

Cornerstone Real Estate Advisers LLC (“Cornerstone”), with subsidiary and affiliate offices in the U.S., UK, Europe and Asia, is one of the largest global real estate investment managers. 

Boston Harbor

 It provides core and value-added investment and advisory services, including a comprehensive suite of private and public real estate debt, equity and securities expertise and services, to institutional and other qualified investors around the globe. 

Cornerstone is a member of the

MassMutual Financial Group.  More information is at www.cornerstoneadvisers.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 217-unit 800 Madison in Hoboken, NJ to The DSF Group

800 Madison Apartments, Hoboken, NJ

Jose Cruz

FLORHAM PARK, NJ - HFF announced today that it has closed the sale of 800 Madison, a 217-unit, Class A  multi-housing community with ground floor retail in Hoboken, New Jersey.

               HFF marketed the property on behalf of the seller.  The DSF Group purchased the asset free and clear of existing debt.

Spanning an entire city block between Madison and Monroe Streets, and 8th and 9th Streets, the property has a prime location in the growing northwest section of Hoboken. 

Andrew Scandalios

The property also benefits from its location one block from the Hudson-Bergen light rail stop and adjacent to a large grocery store.

 Completed in 2008 with condominium level finishes, the property is 99 percent leased and includes one-, two- and three-bedroom floor plans ranging from 691 to 1,815 square feet.

 Community amenities include a courtyard swimming pool with hot tub and sundeck, outdoor patio with grills, two rooftop terraces, fitness center, resident lounge and private garage parking. 

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

Kevin O'Hearn

“DSF performed very well on the acquisition and they continue to acquire Class A multi-housing assets in the greater New York Area,” said Cruz.  “800 Madison represents DSF’s third acquisition in the NY metropolitan area in 2013. 

Josh Solomon, president of The DSF Group added, “we are excited to further expand our portfolio in one of the strongest markets in the country.” 

Since 2000, the DSF Group has invested more than $2 billion in five million square feet and has quietly become one of the most successful private real estate investment firms in the country. 

Jeff Julien

With offices in Boston and Washington D.C., three decades of experience and a track record unrivalled in the industry, the DSF Group offers investors and communities the unique combination of expertise, vision and hands-on involvement, in both converting and redeveloping existing properties and in developing new properties from the ground up. 

Among numerous other industry recognitions, DSF Group was selected by the National Association of Home Builders (NAHB) as the 2011 Multifamily Development Firm of the Year. 

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.thedsfgroup.com