Marcus & Millichap Capital Corp. Arranges $5.4 Million Refinance in Van Nuys, CA

  

Sharone Sabar

LOS ANGELES, CA – Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has arranged $5.4 million of debt for a 16,507-square-foot retail property in Van Nuys, Calif.

Sharone Sabar, a vice president capital markets in MMCC’s Encino office, arranged the loan. 

            “The borrower’s loan was maturing,” says Sabar. “The property was a multi-tenant retail center anchored by a church occupying more than 40 percent of the space, which made it difficult to finance.

Van Nuys, CA retail center

“To add to the challenge, the borrower wanted a high leveraged loan. MMCC sourced a lender that met the borrower’s needs with a very competitive interest rate,” concludes Sabar.  

The 15-year fixed loan amortizes over 25 years at 4.3 percent with a 65 percent loan-to-value.

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

Gina Relva,

Public Relations Manager

(925) 953-1716

San Fernando Valley, CA Manufactured Community Changes Hands for $13.1 Million

Reseda Mobile Estates, Reseda, CA

RESEDA CA,  March 13, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Reseda Mobile Estates, an all-age 108-space manufactured housing community in Reseda, Calif.

The $13.1 million sales price equates to $121,300 per space.

Briana Barbier

            Briana Barbier, senior associate and member of Marcus & Millichap’s National Manufactured Housing Communities Group in San Diego, represented the seller, a Southern California-based partnership.

 Barbier also procured the buyer, a national owner of manufactured housing communities with a large regional presence in Los Angeles.

            “Reseda Mobile Estates is a stable, well-maintained community that provides affordable housing in the expensive, high-demand San Fernando Valley rental market,” says Barbier.

“The asset provides the new owner with stable cash flow, minimal management responsibilities and the opportunity for consistent rent growth through annual CPI increases and vacancy decontrol upon turnover.”

            The manufactured home community is located at 6545 Wilbur Ave. in Reseda, Calif. near restaurants, schools, retail shopping and public parks. Apartments and single-family residential neighborhoods surround the community. Reseda is home to a desirable magnet school and a well-regarded charter middle school.

            “There were multiple offers on this property and the bidding process in today’s quality-starved marketplace was very competitive,” continues Barbier. “The primary challenge with this offering was debt restriction. There was existing financing that the buyer was required to assume, at an interest rate approximately 100 basis points higher than today’s rates, and at a less than 50 percent loan-to-value ratio (LTV),” adds Barbier.

 “Fortunately the buyer was able to obtain a small second loan at current interest rates, which increased combined leverage to 56 percent LTV, but the overall debt structure still pushed the cap rate upwards by approximately 100 basis points. 

"The ultimate sales price reflects a cash yield competitive with alternate investment opportunities in today’s marketplace.”

            “Even with assumption of the existing loan and funding of a new loan in a second position, the transaction closed in 75 days,” concludes Barbier. “The relatively quick closing is a testament to the experience and cooperation of all parties.”

            Built in approximately 1960, Reseda Mobile Estates is composed of mostly doublewide homes on 8.57 acres. Amenities include two clubhouses, a swimming pool, spa and a poolside patio with barbecues and outdoor showers. The community receives municipal water and sewer services and all utilities are sub-metered or passed through to the residents.

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

Gina Relva,

Public Relations Manager

(925) 953-1716

$23.2 Million Multifamily Portfolio Changes Hands in Redwood City, CA

Redwood City Portfolio I, Redwood City, CA

Adam Levin

REDWOOD CITY, CA, March 13, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Redwood City Portfolio I, a five-property 112-unit multifamily portfolio on the San Francisco Peninsula in Redwood City, Calif.

 The $23.2 million sales price equates to $207,142 per unit.   

            Adam Levin, a vice president investments, and Robert Johnston, a senior associate, both in Marcus & Millichap’s Palo Alto office, represented the seller, Interstate Equities Corporation (IEC). Levin and Johnston also represented the buyer, a private investor in a 1031 exchange.

            “The continued creation of high-paying jobs in Silicon Valley is reshaping the San Mateo County apartment market and creating new opportunities for both large institutional investors and smaller private investors,” says Levin.

Robert Johnston

“Favorable market conditions in Redwood City allowed us to assemble this portfolio of 1960s-era apartment complexes and for IEC to successfully implement its renovation, stabilization and repositioning strategy.”

            “The buyer, in turn, was able to transition from a 42-unit apartment building to a five-building multifamily portfolio,” concludes Levin.

            The properties are:

• 152 Lincoln Ave., 18 units

• 180 Buckingham Ave., 48 units

• 755 9th Ave., 8 units

• 775 9th Ave., 8 units

• 1331 Jefferson Ave., 30 units

            “Levin and Johnston have closed more than 50 transactions since the beginning of 2013,” notes Steven Seligman, vice president and regional manager of Marcus & Millichap’s Palo Alto office, “many of which involved locating opportunities for clients in 1031 exchanges.”

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

Gina Relva,

Public Relations Manager

(925) 953-1716

Marcus & Millichap’s French Retail Team Partners With Marcus & Millichap’s Capital Corp.’s Steven Rock

NEW YORK, NY, March 13, 2014 – The French Retail Team of Marcus & Millichap announces a new strategic partnership between Joseph C. French Jr. of the firm’s National Retail Group and Steven Rock of Marcus & Millichap Capital Corp.

J.D. Parker

           “I’m very excited about working with Joe and the French Retail Team to expand our services and create a full service brand within an already established public company,” says Rock.

           “This broad partnership will leverage and enhance the extensive relationships of two senior commercial real estate industry veterans,” adds J.D. Parker, regional manager of Marcus & Millichap’s Manhattan office.

“It will significantly expand two business platforms to provide best in class debt and equity financing solutions for institutional and private owners, developers and operators,” Parker concludes.

            Rock brings over 20 years of structured capital markets and commercial real estate financing experience to the partnership.

 French has more than 25 years of retail investment sales experience, specializing in multi- and single- tenant retail investment sales on behalf of institutional and private investors.

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

Gina Relva,

Public Relations Manager

(925) 953-1716

$11.1 Million Buys Inland Empire LA Fitness

LA Fitness, 220 North Sanderson Avenue, Hemet, CA

HEMET, CA, March 13, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of a 50,000-square-foot LA Fitness in the Southern California city of Hemet. The $11,175,000 sales price equates to $224 per square foot.

            Mark Thiel, a vice president investments in Marcus & Millichap’s San Diego office, represented the seller, a local property owner.

Mark Thiel

            “This LA Fitness is located at the busiest intersection in Hemet and is the only major fitness center in the entire San Jacinto Valley,” says Thiel. “The small supply of competitors in the region and club’s central location place it in an excellent position to capture a high level of memberships.”

            LA Fitness in Hemet was built in 2008 on 5.6 acres and is 100 percent leased to Fitness International LLC. It is located on the corner of West Florida Avenue (California State Route 74) and Sanderson Avenue at 220 North Sanderson Ave. in Hemet.

West Florida Avenue and Sanderson Avenue combine for a traffic count in excess of 70,000 vehicles per day. Florida Avenue is Hemet’s major retail corridor and the Hemet Valley Mall, anchored by J.C. Penny, Sears and Gottschalks, is less than a mile east of the property. 

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

Gina Relva,

Public Relations Manager

(925) 953-1716

Marcus & Millichap Brokers Sale of 312 Multifamily Units in Houston, TX

Mediterra at Westchase Apartments,  3131 Hayes Place, Houston, TX

HOUSTON, TX – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Mediterra at Westchase Apartments, a 312-unit multifamily complex in Houston’s Westchase submarket. The terms of the sale were not released.

Jeffrey Fript

            Jeffrey Fript, an associate vice president investments, and Kyle Bruchmiller, an associate, both in Marcus & Millichap’s Houston office, represented the seller, a Texas-based investment firm. Fript also advised the buyer, an institutional investor from California.

            “Mediterra at Westchase Apartments is a stabilized asset with significant upside to be gained through the continuation of the value-add program,” says Fript. “The buyer plans to reposition the asset via interior and exterior upgrades in an effort to capitalize on the explosive growth in the Westchase submarket.”

            The property is located just off Westheimer Road at 3131 Hayes Place in Houston near the Sam Houston Tollway, U.S. Highway 6, the 610 Loop, U.S. Highway 59, Westpark Tollway and Interstate 10.

 Nearby schools include Outley Elementary, Budewig Intermediate School, O’Donnell Middle School, Elsik-Hasting-Taylor High School, Grace School, Remington College and Houston Community College.

The location provides residents with easy commutes to all of Houston’s major employment centers, including The Galleria, the Energy Corridor District, the Texas Medical Center and the central business district.

Kyle Bruchmiller

Houston’s Westchase district is known for its business climate and is home to approximately 16 million square feet of office space, 81,000 employees and more than 2,000 businesses.

            Built in 1980 on 10.4 acres, Mediterra at Westchase Apartments offers residents six different floor plans that include efficiencies, one-bedroom units, two-bedroom apartments and three-bedroom units.

The average unit size is 803 square feet. Unit amenities include spacious closets, outside storage and ceiling fans. All apartments except the efficiencies have fireplaces. The upstairs units feature nine-foot vaulted ceilings and select units have washer/dryer connections.

The renovated units have been upgraded with stainless steel and black appliances, two-tone paint, faux-wood flooring, brushed-nickel finishes, two-inch blinds and granite-like countertops.

Community amenities include a resort-style swimming pool with tropical landscaping, a sundeck and barbecue grill, a fitness center, a business center, an updated leasing office, covered parking, free cable TV service, two laundry care centers and controlled access gates. All of the units are sub-metered for electricity.

Residents pay for water, trash, pest control, and gas through third-party billing.

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

Gina Relva,

Public Relations Manager

(925) 953-1716

Multi Housing Advisors Brokers $12 Million Sale of Raleigh, NC Apartment Community

  

Marc Robinson

 CHARLOTTE, NC  (March 13, 2014) — Multi Housing Advisors (MHA) has brokered the $11.95 million sale of the 200-unit Hidden Creek, an apartment community located in Raleigh, N.C.

Marc Robinson and Jordan McCarley of MHA’s Charlotte office represented the seller, AB Merion Hidden Creek LLC, an affiliate of Merion Realty Partners, and was the sole broker in the transaction. The buyer was FortCap Chatsworth LLC, an affiliate of Virginia Beach, Va.-based FortCap Partners.

“The buyer interest we received for Hidden Creek was tremendous and suggests that the Raleigh/Durham market remains a target for many investors, despite the area’s notable multifamily development pipeline,” Robinson said. “The new owner plans to continue the unit interior enhancements that had been initiated by the previous owner.”

  

Jordan McCarley

Hidden Creek is located at 2038 Quail Forest Dr. in north Raleigh. The community, which was constructed in 1980, includes a business center, fitness center, playground, swimming pool and laundry facilities.

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

Stephen Ursery

The Wilbert Group

404-549-7150 (O) 404-405-2354 (C)

sursery@thewilbertgroup.com

www.usmha.com.

Maury L. Carter and Associates, Inc. Sells $1.1M of Land Near Orlando, FL Theme Parks

  

Maury L. Carter (left) and son, Daryl M. Carter

Orlando, FL – Daryl M. Carter, President of Maury L. Carter & Associates, Inc. brokered the sale of 4.8 acres in Orlando, Orange County for $1,125,000. 

The property is located at the intersection of Palm Parkway and Lake Street and the Buena Vista Park PD is approved for hotel, resort, timeshare, commercial or office space.

The seller was Royal American Development, Inc, and the buyer was Lake Buena Vista Properties, LLC. Daryl M. Carter with Maury L. Carter & Associates, Inc. represented the seller. 

The property is in close proximity to Walt Disney World and other local area attractions.

Maury L. Carter & Associates, Inc. is an Orlando-based full service commercial real estate firm proficient in commercial real estate investments, asset management, brokerage, and development. The firm's officers combine more than 75 years experience in real estate investments and brokerage.

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

Kristin Fortier

Maury L. Carter & Associates, Inc.

3333 S. Orange Avenue, Suite 200

Orlando, Florida 32806

407-421-0586 (c)

407-422-3144 (o)

www.maurycarter.com

IPA Arranges the Sale of Alta Park West in Peoria, AZ for $30.05 Million

Alta Park West Apartments, 9680 West Northern Avenue, Peoria, AZ

Steve Gebbing

PEORIA, AZ – 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 Alta Park West, a 260-unit, 252,643-square-foot luxury apartment community in Peoria, Ariz., a major suburb of Phoenix.

The $30.05 million sales price equates to $115,500 per unit.

            IPA senior director Steve Gebing and Marcus & Millichap vice president investments Cliff David advised the seller, a venture formed by Wood Partners, one of the nation’s largest multifamily developers, and Boston Capital Real Estate Partners of Boston, Mass. The buyer is Greenwood Village, Colo.-based Baron Properties.

            “Developed by award-winning Wood Partners in 2008, Alta Park West delivers a luxurious living experience that reflects the aesthetic and social fabric of its community,” says Gebing. “The property has a unique location within Park West, a 250,000-square-foot open-air lifestyle center that provides residents with unparalleled live, work and play access.”

Cliff David

            Situated at 9680 West Northern Ave. in Peoria, Alta Park West is located at the northwestern corner of Loop 101 and Northern Avenue with approximately 1,200 linear feet of drive-by visibility from an estimated 108,000 daily freeway commuters.

The location provides immediate access to Westgate Entertainment District, a landmark destination encompassing approximately 8 million square feet of shopping, dining, and entertainment.

The property is near a number of prominent employers, including a heavy concentration within the healthcare sector such as Banner Estrella Medical Center, Banner Thunderbird Medical Center, Arrowhead Hospital and the currently under development St. Joseph’s Westgate Medical Center, a 35-acre medical campus.

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

Gina Relva,

 Public Relations Manager

(925) 953-1716

South Florida Office and Retail Asset for Sale at $13.5 Million

  

21/22 Center, 2103 Coral Way, Miami, FL

Douglas K. Mandel

MIAMI, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, is the exclusive advisor for the sale of the 21/22 Center, an eight-story, 74,461-square-foot office and retail building on Coral Way in Miami.

The listing price is $13,500,000. Douglas K. Mandel, a first vice president investments, and Benjamin Silver, a senior associate, both in Marcus & Millichap’s Fort Lauderdale office, are representing the seller.

            “The 21/22 Center is a stabilized asset currently 90.7 percent occupied by professional tenants,” says Mandel. “During the last two years the building has received nearly $2 million in capital improvements that include new elevators, chillers, common area upgrades and tenant improvements.”

            The office and retail building is located on the corner of Southwest 21st Avenue and Coral Way at 2103 Coral Way in Miami.

The location is between downtown Miami’s Brickell financial district and Coral Gables’ central business district. The building is approximately one mile west of Interstate 95, three miles southwest of downtown Miami, two miles east of downtown Coral Gables, Fla. and just a few miles east of Miracle Mile.           

Benjamin H. Silver

            The 21/22 Center features 18,356 square feet of ground floor retail space and 56,105 square feet of office space. The building was constructed in 1983 utilizing cast-in-place isolated column footings and continuous footings. 

The exterior walls are finished with painted stucco and the building is fitted with an aluminum and glass curtain wall system and aluminum and glass windows.

An attached five-story parking garage provides direct entrances to the office building from the second through fifth floors. The parking facility accommodates 172 parking spaces. The lower floors have an automated pay parking system. Two parking spaces are reserved for electrical vehicles and have charging stations.

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

Gina Relva,

 Public Relations Manager

(925) 953-1716

Sireeampan Boutique Resort & Spa Celebrates Songkran Festival in Thailand

Sireeampan Boutique Resort & Spa, Chiang Mai, Thailand

Jitsak Lim-Pakorakul

Chiang Mai, Thailand (March 12, 2014) – Sireeampan Boutique Resort & Spa, the intimate 11-suite luxury resort in the heart of Chiang Mai in January 2014, is pleased to announce its Songkran Splash Sale offering, in celebration of the Thailand New Year from 13 – 15 April.

 The sale allows guests who book early to save 15% on standard leisure rates, plus receiving a complimentary spa treatment from the newly launched "Retreat to Simplicity" menu at the luxurious Le Spa de Sireeampan.

 This generous offering is available throughout the month of Thailand's New Year, April.

“Each year, the highly anticipated and beloved Songkran festival brings a splash to the streets of Chiang Mai – literally,” said Jitsak Lim-Pakornkul, General Manager of Sireeampan.  “We are excited to bring a splash of our own to city goers and welcomed travelers.  The sale offers value and an unforgettable experience, as well as an intimate escape after a festive day of roaming the bustling streets.”

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

Hwee Peng

Hwee Peng Yeo

Director of Asian Markets

Glodow Nead Communications

Level 21, Centennial Tower

3 Temasek Avenue

Singapore 039190

Crossroads Development Partners Purchases Two Medical Office Buildings for $1.2M

990 and 1000 Grand Canyon Parkway, Hoffman Estates, IL

HOFFMAN ESTATES, IL – Schaumburg-based Crossroads Development Partners has closed on the purchase of 990 and 1000 Grand Canyon Parkway in Hoffman Estates.  Crossroads acquired the properties for $1.2 million from a subsidiary of Boston-based Admirals Bank, which had taken the property back from a private owner in a 2012 foreclosure transaction. 

The two buildings, totaling more than 53,000 square feet, feature a variety of medical users and are situated off of heavily trafficked Higgins Road. Crossroads plans several capital improvements to compliment an aggressive leasing campaign to stabilize the property.  Crossroads closed the all-cash transaction four days after reaching an agreement with the seller.

 “We are pleased to add to our suburban office holdings with the acquisition of the Medcoa Professional Buildings in Hoffman Estates,” said Lee Kotler, principal of Crossroads Development Partners.

Lee Kottler

“Our organization is nimble and laser-focused on the task at hand, and as a result, we were able to move quickly for a successful closing and look forward to executing our business plan.

"Crossroads has been very successful in the suburban office market in recent years."

In 2009, the firm purchased 1300 E. Woodfield Road in Schaumburg, where it, and its affiliated management arm, SVN Crossroads Management, are now headquartered.

  At the time of the purchase, the building was approximately 30 percent occupied. Within four years, the firm has been able to achieve 97 percent occupancy for the property. 

In another of the firm’s suburban office holdings, the 180,000-square-foot 6400 Shafer Court in Rosemont, Ill., Crossroads has signed approximately 20,000 square feet of new leases, renewals and expansions in the last six months.

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

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

Emily Johnson, ejohnson@taylorjohnson.com, 312-267-4522

Marcus & Millichap Arranges Sale of a Texaco Xpress Lube in Riverview, FL for $729,000

Texaco Express Lube, 13376 Lincoln Road, Riverview, FL

RIVERVIEW, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Texaco Xpress Lube, a 1,400-square foot net-leased property located in Riverview, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $729,000.

James Medefind

James Medefind, an investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company based in Brandon, Fla. 

Texaco Xpress Lube was built in 2006 and is located at 13376 Lincoln Road in Riverview, Fla.  This 1,400-square foot Texaco Xpress sits off Big Bend Road (County Road 627) and is an outparcel to an Ace Hardware anchored center. 

The property is adjacent to the brand new St. Anthony’s Regional Hospital and located in close proximity to rapidly growing residential developments in eastern Hillsborough County.

“We were able to drive significant activity to this asset due to the lack of quality, long-term net-leased real estate investments, says Medefind.  “Investors were eager to enter a market undergoing such rapid growth and this aggressiveness showed up in the final sales price,” adds Medefind.  “I am excited to say we hit the ball out of the park with this sale.”

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

Richard D. Matricaria

Regional Manager, Tampa

(813) 387-4700

www.MarcusMillichap.com

PCCP, LLC and Mountain Development Corporation Form Joint Venture to Acquire and Reposition 10-Story Office Building in Secaucus, NJ

One Harmon Plaza, Secaucus, NJ

Secaucus, NJ – A joint venture of PCCP, LLC and Mountain Development Corp. (“MDC”) has acquired One Harmon Plaza, a 192,000-square-foot Class A office tower in Secaucus, NJ. 

One Harmon Plaza is a 42 percent leased, 10‐story office building that features efficient, 22,000-square-foot floor plates with panoramic views, an all‐black glass façade, and existing amenities that include structured parking and on‐site banking services.

Bill Martini

 The well located property is less than 5 miles from midtown Manhattan and offers jitney service to the Secaucus rail junction.

“We are excited to be partnering with Mountain Development, an experienced New Jersey-based owner and operator of office properties with over 30 years of proven success in the market.” said Kevin Chin, vice president with PCCP.  “One Harmon is a high quality, value-add asset that we are acquiring at an attractive basis relative to replacement cost and recent market sales.”

The joint venture plans to upgrade common areas and improve the property’s amenity base for tenants with the addition of a fitness center, free conference center and on‐site food service operated by a desirable local eatery.

“Our full amenity package, responsive property management and aggressive rental rates will make One Harmon Plaza the most attractive address for tenants looking in the Meadowlands,” said Bill Martini of Mountain Development Corp.

The Cushman and Wakefield Equity, Debt & Structured Finance team led by John Alascio, Chris Moyer and Suraj Ravi served as the exclusive advisor to MDC in arranging and structuring the joint venture with PCCP. 

            The joint venture has tapped the Cushman & Wakefield leasing team of Marc Trevisan, David Sherman, David DeMatteis and Slava Verynberg as its exclusive agent to market and lease the property. The property was sold by the Cushman & Wakefield of New Jersey Investment Sales team.

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

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

HFF arranges construction financing for student housing community serving Florida Atlantic University in Boca Raton, FL

Rendering of planned University Park student housing community, Boca Raton, FL

Elliott Throne

MIAMI, FL – HFF announced it has arranged construction financing for University Park, a to-be-built, 159-unit/599-bed student housing community in Boca Raton, Florida. This will be the first purpose built, off campus student housing deal catering to Florida Atlantic University.

               HFF worked exclusively on behalf of the borrower, a partnership between Rosemurgy Properties, Giles Capital Group and Lewis Rental Properties, to secure the three-year loan through Mutual of Omaha Bank. 

               Due for completion in Spring 2015, University Park will feature two-, three-, and four-bedroom layouts each offering students their own bedroom, bathroom and closet. 

Units will include a washer and dryer, common living room, eat-in kitchen and covered balcony.  Residents will have access to a resort-style pool, fitness center, climbing wall, TRX/Crossfit room, cardio/yoga/boxing studio, arcade table with video gaming, student lounge with video wall, study labs with white boards, juice bar/café, computer lounge, sand volleyball court and demonstration/event kitchen.

Adam F. Herrin

 The property is situated on a 10.7-acre site at 135 NW 20th Street, just east of Florida Atlantic University’s Boca Raton campus, which has a total enrollment of more than 29,000 students.  University Park will be managed by Innovative Student Housing.

               The HFF team representing the borrower was led by directors Elliott Throne and Adam Herrin and senior real estate analyst Scott Wadler.

               Founded in 1977 and headquartered in Boca Raton and Deerfield Beach, Florida, Rosemurgy Properties is a privately-owned commercial real estate development, investment and management firm.  Portfolio assets include multifamily, retail, self-storage, office and land properties. 

The company continues to expand in South Florida and other areas in the Southeast based on strategic partnerships and opportunities for diversification.

 FAU Innovation Centre, now known as the Innovation Centre at Florida Atlantic R & D Park, was a 10- year development project on the campus of FAU that Rosemurgy Properties began developing in 1998 and sold in 2008.

 The award-winning project encompassed 70 acres and eight buildings, and was one of the few university research parks of its kind at the time.

Giles Capital Group, founded in 2012, is a real estate advisory and investment company focused on the multifamily industry.  The firm was founded by Richard Giles, a former chief operating officer of The Bainbridge Companies.

Lewis Rental Properties has been a leader in light industrial warehouse rentals and mini storage in south Florida since it was founded in 1970. 

All of their properties are family owned, operated and maintained to ensure the best quality warehouse and storage facilities available anywhere. They entered the student housing space with Addison Park, a 165-bed facility within a block of both FAU’s campus and the University Park development site.

 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