HFF arranges $28 million financing for Harlequin Plaza in suburban Denver, CO

Harlequin Plaza, Greenwood Village, CO

 

Eric Tupler

PORTLAND, OR – HFF announced it has arranged $28 million in financing for Harlequin Plaza, a 324,833-square-foot suburban office building in Greenwood Village, Colorado.

                HFF worked on behalf of the borrower, Unico, to arrange a refinance of their existing loan.

                Harlequin Plaza is located at 7600 East Orchard Road near the Interstate 225 and Interstate 25 interchange, southeast of downtown Denver. 

Most recently renovated in 2013, the two-building property is 90 percent leased to a mixture of finance, banking, media, engineering and medical tenants including Dex Media, Cherry Creek Mortgage and BELLCO Credit Union. 

The HFF team representing the borrower was led by managing director Tom Wilson along with senior managing director Eric Tupler, senior analyst Erica Christensen and analyst Kristian Lichtenfels.

Kristian Lichtenfils

Unico is a real estate investor and full-service operator with a portfolio of more than 10 million square feet of commercial assets either owned or managed through the western United States.

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) 617-848-1572 | cel 617.543.4873 | www.hfflp.com

krmurphy@hfflp.com

Benoy Announces Global Studio Expansion

The modern (post-1976) road named London Wall
(Photo Courtesy Wikipedia)

LONDON -- Benoy, the international, award-winning firm of Architects, Masterplanners, Interior and Graphic Designers, is excited to announce that three of its nine global studios, London, Singapore and Dubai, are on the move.

All three hubs are experiencing real growth in their respective regions and their relocation to bigger and more prestigious premises will accommodate this expansion.

Benoy’s growing international team has increased 20% over the last two years and consequently the company is celebrating almost 600 colleagues around the world.

After 20 years based in Holborn, Benoy London will be taking up residence at One Monkwell Square, adjacent to the famous London Wall.

One Monkwell Square, London, England

Home to the Worshipful Company of Barbers, the site of the historic standalone building dates back to the 1440s, and Benoy’s new studio space will be fully redesigned by its acclaimed Interior Design Team. 

The concept will embody Benoy’s trademark as a creative British Brand.

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

Brittany Downes （Benoy）

Email: brittany.downes@benoy.com

Tel: +852 2250 7222

 Pamela So (Weber Shandwick)

Email: pso@webershandwick.com

Tel: +852 2533 9916 / 9122 6168

Lexington Homes to Break Ground on New Townhomes at Lexington Oaks in Palatine, IL

Jeff Benach

CHICAGO – Chicago-based Lexington Homes has announced plans to break ground this spring on 15 new townhomes at its Lexington Oaks development in Palatine, Ill.

The new homes will be available for delivery in late 2014. With a limited number of townhomes available, Lexington anticipates sales to go fast.

Located on Northwest Highway/Route 14, a quarter-mile west of Smith Road and a half-mile east of Quentin Road, Lexington Oaks is on a wooded site near downtown Palatine, less than a mile from Palatine’s central business district and the Palatine Metra station.

 “Lexington Oaks’ close proximity to downtown Palatine provides an urban convenience of being close to shopping and restaurants in a suburban setting,” said Jeff Benach, co-principal of Lexington Homes.

 “Combine that with Palatine’s hometown charm and the almost nonexistent crime rate and you have a perfect location for young couples looking to move from the city or empty-nesters looking to downsize.”

The community offers two-story townhomes in two floor plan designs with three bedrooms, 2½ baths, basements, backyard decks and two-car garages.

 One plan features a spacious first-floor master bedroom suite and a laundry room on the main floor. Based-priced from the $330,000s, the homes measure approximately 1,684 to 1,817 square feet. 

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

Kelly Shumaker

Senior Account Executive, Taylor Johnson

Direct:    312-267-4519

Phone:   312-245-0202

Fax:        312-245-9205

E-mail:   kshumaker@taylorjohnson.com

MG Properties Group Hires Rob Singh As Managing Director and Chief Investment Officer

Rob Singh

San Diego, CA,  May 14, 2014 – MG Properties Group, a private, San Diego-based real estate investor and operator, has hired Rob Singh as Managing Director and Chief Investment Officer.

Singh will be responsible for overseeing the company’s investment activities and capital relationships, according to Mark Gleiberman, MG Properties Group Founder and President.

 “Rob’s experience and reputation will be highly beneficial to our fast-paced growth,” Gleiberman notes.  “Since December 2010, MG Properties Group has completed twenty apartment acquisitions totaling 5,200 units at a value of more than $630 million.”

 “While that has been strong growth, our firm now anticipates closing an additional $250 million in acquisitions within just the next 12 months alone.  Based on this rapid increase in our acquisition activity level, Rob’s leadership will be a key to our continuing success,” he adds.

 Singh has more than 26 years of real estate investment experience representing $4 billion in transactions.

Mark Gleiberman

 In his previous position as Senior Vice President at ConAm, Singh was the head of the Investments Group which during his 18 year tenure, acquired over 16,000 multifamily units throughout the US. 

 Prior to ConAm, Singh was with Citicorp and the Boston Company investing institutional capital in joint ventures and direct real estate investments.  He is a graduate of University of California, Irvine with a degree in Economics and Business Management.

 MG Properties Group (www.mgproperties.com) is a real estate owner and operator specializing in multifamily assets in the western U.S. markets. 

Over the last 20 years, MG Properties Group has acquired over 84 communities totaling over 15,000 units, representing more than $1.4 billion in total asset value.

 The company’s current portfolio includes more than 10,000 units in California, Washington, Arizona and Nevada. MG Properties Group employs over 300 professionals with in-house expertise in acquisitions and underwriting as well as asset, property, construction and investment management.

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

Jenn Quader or Lexi Astfalk

(949) 955-7940

jquader@browermillercole.com

Aventura, FL Properties Sell for $19.3 Million

Medical office building, Aventura, FL

Alex Zylberglait

AVENTURA, FL  – 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 approximately three acres of improved commercial property in Aventura, Fla.

The properties are a 32,932-square-foot medical office building, a one-acre ground lease on which a new 5,200-square-foot Wells Fargo bank has been constructed and approximately one acre of additional developable land. The sales price is $19.3 million.

            Alex Zylberglait, a first vice president investments in Marcus & Millichap’s Miami office, along with Karen Reiter and Michael Matluck of the prominent South Florida firm ICS Realty Inc., represented the seller, Tanglewood 2925 LLC, which is managed by Tanglewood Management LLC and whose principals are Josh Dubin and Karen Reiter.

Marco Lala and Steven Siegel in Marcus & Millichap’s Manhattan office represented the buyer, a New York-based private investor whom Siegel and Lala represented in a 1031 exchange.

Karen Reiter

            “The portfolio is a premium asset in a prime location directly across from the Aventura Mall,” says Zylberglait. “The office building is a stable asset with strong medical tenant base.”

            “The acquisition puts the new owner in an excellent position to generate a stable return from both the medical office building and the bank’s long-term ground lease and to create more rentable space at premium market rents on the development site,” says Siegel.

            The medical office building is located at 2925 Aventura Blvd. in Aventura, Fla. near the Aventura Hospital and next to the Mt. Sinai Medical Center and the 2,700,000-square-foot Aventura Mall. 

The Wells Fargo bank is adjacent to the office building at 2929 Aventura Blvd. and the land for development is on the west side of the office building at 2925 Aventura Blvd. 

Aventura is an affluent suburban market in northeastern Miami-Dade County one mile from the coast and between Fort Lauderdale and Miami.

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

Gina Relva

Public Relations Manager

(925) 953-1716

Berger Commercial Realty Brokers Judy Dolan and Greg Milopoulos negotiate 15 industrial lease deals at two South Florida properties

Judy Dolan

FORT LAUDERDALE, FL - Berger Commercial Realty brokers Judy Dolan and Greg Milopoulos recently represented Principal Life Insurance Company in leasing space to 15 businesses at two of the company's properties over the past month.

 The brokerage team closed eight industrial leases at Lyons Technology Park IV in Coconut Creek and seven lease deals for warehouse space at the Mangonia Business Park in the Town of Mangonia Park near West Palm Beach.

Lyons Technology Park IV

Located at 4811-4911 Lyons Technology Parkway, just north of the Sawgrass Expressway's Lyons Road exit, Lyons Technology Park IV is Class A business park featuring move-in ready suites, drive-in bays, 18-foot ceiling heights, hurricane-impact glass, and ample car and truck parking. Dolan and Milopoulos represented Principal Life Insurance Company in:

Greg Milopoulos

the new lease of 6,248 square feet of space in suites one and 16 to PEC North America Inc.;

the lease renewal of 3,124 square feet of space in suites three and four to Creek Fitness LLC;

the new lease of 1,562 square feet of space in suite 22 to Fisher Capital Management, Inc.;

the lease renewal of 1,562 square feet of space in suite six to Butters Construction & Development Inc.;

the new lease of 1,562 square feet of space in suite 23 to OMG Miami Swimwear LLC;

the lease renewal of 1,562 square feet of space in suite 18 to Hire Authority Construction Inc.;

the new lease of 1,562 square feet of space in suite 20 to DLAB Capital, Inc., doing business as Junk King;

and the lease renewal of 1,562 square feet of space in suite four to Bead Brite LLC.

  

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

Marielle Sologuren

Pierson Grant Public Relations

msologuren@piersongrant.com

(954) 776-1999, ext. 226

Regency Centers Announces Pricing of $250 Million “Green Bond” due 2024

JACKSONVILLE, FL--(BUSINESS WIRE)-- Regency Centers Corporation (“Regency” or the “Company) (NYSE:REG) announced today that its operating partnership, Regency Centers, L.P., priced a public offering of $250 million 3.75% unsecured notes due 2024 (the “Notes).

The Notes are due June 15, 2024 and were priced at 99.482%. Interest on the notes is payable semiannually on June 15th and December 15th of each year, with the first payment on December 15, 2014.

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

Regency Centers Corporation

Patrick Johnson, 904-598-7422

PatrickJohnson@RegencyCenters.com

CBRE Orlando Lists Marina Grande towers for sale in Daytona Beach, FL Market

Marina Grande residential towers, Daytona Beach, FL area

ORLANDO, FL -- CBRE is pleased to present Marina Grande, a 298-unit waterfront investment opportunity in the world-famous Daytona Beach area on Florida’s east coast.

 Completed in 2007, these twin, luxury high-rise residential towers offer breathtaking intracoastal and Atlantic Ocean views and class "AAA" features such as granite countertops, 9’ ceilings, floor to ceiling windows, stainless steel appliances, ceramic tile, jetted tubs, and contemporary cabinetry and lighting.

This 486-unit community was built as condominiums, and the original unit sales averaged more than $548,000 before the recession.

 The remaining 298 units are now being offered in bulk, and present investors with the tremendous opportunity to acquire control of this trophy asset significantly below replacement cost just as the condo market is starting to take off.

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

Shelton Granade

Executive Vice President

+1 407 839 3103

shelton.granade@cbre.com

HFF secures $16 million financing for Lake Shore Plaza II in Sunrise, FL

Lakeshore Plaza II, 1300 Concord Terrace, Sunrise, FL

 

Elliott Throne

MIAMI, FL – HFF announced it has secured $16 million in financing for Lake Shore Plaza II, a 128,470-square-foot, Class A office property in Sunrise, Florida.

               Working exclusively with Cornerstone Real Estate Advisers, acting on behalf of an institutional investor, HFF placed the 10-year, fixed-rate loan with a life insurance company. 

               Lake Shore Plaza II is located at 1300 Concord Terrace within the Sawgrass International Corporate Park close to the Sawgrass Expressway, Interstates 75 and 595, and the Sawgrass Mills Mall in Broward County. 

Completed in 2008, the five-story property is 97.5 percent leased to tenants including New York Life, Emerson Electric, T-Mobile, GMMI and Oracle.  Lake Shore Plaza II was the first multi-tenant office building in South Florida to receive LEED Silver certification. 

               The HFF team representing the borrower was led by managing director Elliott Throne along with senior managing director Dana Brome and associate director Jorge Portela.

Dana Brome

Cornerstone Real Estate Advisers LLC, with subsidiary and affiliate offices in the U.S., UK,

Europe, and Asia, is one of the largest global real estate investment managers. 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. For more information, visit 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

Charles Dunn Company Completes $2.7 Million Sale of Retail Property Occupied by Bank of the West in Cerritos, CA

  

Bank of the West building, 17303 Carmenita Avenue, Cerritos, CA

  

Charles DeSantis

 LOS ANGELES, CA,  May 13, 2014 – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $2.7 million sale of a 3,600-square-foot, single-tenant, NNN-leased property fully occupied by Bank of the West.

The property is situated on .66 acres and is located at 17303 Carmenita Ave. in Cerritos, Calif.

Charles DeSantis and Kyle Gulock of Charles Dunn Company represented the seller, New York-based Big Four, LLC. The buyer was a private investor from Ontario, Calif. who was represented by Richard Lee of R & L Properties-Cerritos Inc.

“The property fell in the sweet spot of 1031 exchange investor criteria present in the market regarding price point and unleveraged return,” said Gulock.

 “We focused our marketing efforts both regionally and locally. We had multiple offers and were able to select the buyer with the highest price and best terms for our seller.”

Kyle Gulock

This is the second transaction DeSantis and Gulock have closed with their client, Big Four, LLC involving real estate with a financial institution as a tenant. The first occurred in February of this year on the $4.39 million sale of a 4,811-square-foot asset also occupied by Bank of the West in Huntington Beach.

 Additionally, this is the third bank-occupied property the team has closed in 2014. 

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

Darcie Giacchetto

D.G. Communications, Inc.

949.278.6224

Faris Lee Investments Completes $11.5 Million Receivership Sale of a Major Portion of Spring Valley Town Center in Las Vegas

  

Lisa Brady

 LAS VEGAS, NV – Faris Lee Investments, a leading retail advisory and brokerage services firm, has completed the $11.5 million sale of a 60,105-square-foot portion of Spring Valley Town Center in Las Vegas.

The retail property was 92 percent occupied at the close of escrow with tenants including The UPS Store, 7 Eleven, GNC, Fatburger, and others.

Tenants within the center that weren’t a part of the sale include anchor tenants La Bonita Supermarkets, Lee’s Discount Liquor and Bank of America.

              The disposition was a receivership sale. Robert Moore, Lisa Brady, and Katie Brase of the Las Vegas office of Faris Lee Investments represented David Jewkes of Integris Realty Services, who acted as court appointed receiver on behalf of the loan servicer Five Mile Capital.

Katie Brase

The all-cash buyer, First Allied Corporation, represented itself in the transaction. The transaction sold at a cap rate of 8.3 percent ($191 a foot) and provided the buyer with a value-add opportunity through lease-up of the vacant space and current lease expiration/turnover.

              Spring Valley Town Center totals nearly 267,000 square feet on 6.1 acres and is well-located on two signalized intersections at 6775 and 6847 W. Flamingo Rd. and 4122 and 4260 S. Rainbow Blvd.

It also offers strong street frontage, visibility and monument signage and is situated less than five miles from the Las Vegas strip with direct access from Flamingo Rd.

              “Investors are screaming for real estate ownership opportunities – which are scarce in the Las Vegas area – as the fundamentals are favorable, retail rents are moving upward, and economic recovery is in full force,” stated Moore, senior managing director with Faris Lee Investments.

Robert Moore

“Faris Lee garnered 15 solid offers on Spring Valley Town Center, making this a prime example of momentum in the market.” 

Moore also observed that the majority of the value-add retail product has been absorbed. “It is difficult to find opportunities at or less than replacement cost in Las Vegas.”

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

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

NAI Realvest Completes New Retail Lease for Upscale Resale Shop in Winter Haven, FL

Chris Adams

WINTER HAVEN, FL --- NAI Realvest recently completed a new retail lease agreement for 1,276 square feet at 98 Avenue A NE at the corner of First St. in Winter Haven.  

 NAI Realvest Associate Chris Adams negotiated the transaction on behalf of the local landlords Kathy Brinton and Trudy Adams.  

 The tenant Thrifty Chix, Inc. is an upscale resale shop. 

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

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142    

HFF hires Hal Reinauer as a director in its Boston office to focus on multi-housing debt and equity transactions

Hal Reinauer

BOSTON, MA – HFF announced today that Hal Reinauer has joined its Boston office as a director focusing on multi-housing debt and equity transactions in the northeastern United States.

               Mr. Reinauer joins HFF from Arbor Commercial Mortgage where he spent the last seven years, first as a senior underwriter (FNMA) and then as a director/producer for all multi-housing products. 

During his tenure there, he originated Fannie Mae, FHA, CMBS, bridge, mezzanine and preferred equity transactions on a national basis.  Prior to Arbor, Mr. Reinauer worked as a capital markets analyst at Northland Investment Corporation. 

He began his career in commercial real estate finance in 2004 as an analyst within the commercial real estate division of Citizens Bank.  Mr. Reinauer holds a Bachelor of Science degree from Alfred University College of Business in New York. 

               “HFF is excited to have Hal join our existing debt placement team here in Boston.  His background and familiarity of Fannie Mae financing will provide added value for HFF’s multi-housing clients looking to finance transactions in this space and we look forward to his contributions to the firm,” said Riaz Cassum, co-head and senior managing director of HFF’s Boston 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

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

krmurphy@hfflp.com

Philip Leabo Joins Bull Realty’s National Net Lease Investment Group in Atlanta

  

Philip Leabo

ATLANTA, GA (May 12, 2014) – Philip Leabo has joined Bull Realty, a U.S. commercial real estate sales, leasing and advisory firm headquartered in Atlanta, as a vice president in the firm’s National Net Lease Investment Group.

 Leabo has 15 years of experience in the commercial real estate industry. Previously, he was a member of Prudential Georgia Realty’s commercial division and The Wright Group. Leabo has experience in the finance industry as well, and has owned and operated a lumber sales and manufacturing business.

 Leabo will continue to assist investors with single-tenant net-lease investment properties, sale-leaseback transactions and 1031 exchanges.

“I am excited to join such a dedicated and talented team, and look forward to utilizing the platform to serve my existing client base and to assist new clients,” Leabo said.

Michael Bull

 “Net lease properties have been popular among investors during the recovery cycle, a trend we anticipate will continue,” said Michael Bull, CEO of Bull Realty and host of the nationally syndicated “Commercial Real Estate Show” radio program. 

“Leabo’s background and knowledge will help to continue to strengthen our Net Lease Investment Group moving forward.”

Leabo graduated from St. Andrews Presbyterian College with a Bachelor of Arts in Business and Finance. He is active as a Certified Commercial Investment designee (CCIM), and a member of the Commercial Board of Realtors and the Realtors Land Institute.

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

Savannah Duncan • The Wilbert Group

1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309

O: 404-343-0870  • M: 404-901-4433

thewilbertgroup.com

Emerson International negotiates New and Expansion leases in Longwood, FL and Maitland, FL

Kenneth Koch

Altamonte Springs, FL --- Emerson International recently negotiated two leases — one in Maitland at 2600 Maitland Center Parkway and the other at Sanlando Center on West SR 434 in Longwood

Kenneth Koch, director of leasing at Emerson International said 2,595 square feet of Class A office space at 2600 Maitland Center Parkway was leased to the law firm of Starfield & Smith.  The tenant was represented by Colliers International and Koch represented the landlord Emerson International.

In Longwood at Emerson’s 2170 Sanlando Center Koch negotiated an expansion lease with JMHC, Inc. for 3,550 square feet. 

Emerson International is a wholly owned subsidiary of The Emerson Group, the global corporation that is one of the largest privately-owned property development companies in the U.K. 

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

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