Trepp Acquires Commercial Real Estate Direct; Relationship Delivers Streamlined Access to CRE and CMBS News

Manus Clancy

(New York, NY – May 15, 2014) – Trepp, LLC, the leading provider of information, analytics, and technology to the CMBS, commercial real estate, and banking markets, today announced its acquisition of Commercial Real Estate Direct (CRE Direct), the subscription-based source for information and news on the real estate capital markets. 

“Trepp’s acquisition of CRE Direct was a logical step, as both our organizations focus on delivering valuable information to the commercial real estate and CMBS markets,” said Manus Clancy, Senior Managing Director at Trepp.  “CRE Direct is a proven source of daily news and information, as well as a robust research tool with more than 80,000 stories going back to 2000,” Clancy said.

The acquisition brings together two firms with strong client rosters and market reputations.  With a readership of more than 10,000, CRE Direct delivers an online daily news site and a weekly newsletter publication via a subscription-based service. 

  Trepp’s client base includes more than 800 financial institutions that access Trepp’s web-based tools for CMBS trading and analysis.

“While CRE Direct will continue to operate independently, our mutual clients will clearly benefit from streamlined access to additional information and analysis,” said Orest Mandzy, managing editor of CRE Direct.  “More specifically, our CRE Direct clients and advertisers will see immediate opportunities that come from expanded delivery channels and access,” Mandzy said.

 Trepp will be delivering authorized access to CRE Direct through its product suite, namely TreppTrade, TreppCMBS and TreppLoan.

  The new capability will be unveiled at the Commercial Real Estate Finance Council conference in New York on June 9. 

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

Eric Gerard

Eric@greatink.com

$11.3 Million Medical Building Sold by Marcus & Milllichap in Downey, CA

Brookshire Medical Building, 11411 Brookshire Avenue, Downey, CA

Michael Lawrence

DOWNEY, CA, May 15, 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 the Brookshire Medical Building, a 56,121-square-foot medical building located in the southeast Los Angeles County city of Downey.

            Michael Lawrence, a senior vice president investments in Marcus & Millichap’s Newport Beach office, represented the seller, an affiliate of WRA Property Management Inc. David Black, a vice president investments in the firm’s Long Beach office, represented the buyer, PIH Health.

            “The asset is a five-story, multi-tenant medical building located directly across from the former Downey Regional Medical Center, which is now PIH Health Hospital – Downey,” says Lawrence. “The property has received more than $2,000,000 in capital expenditures and tenant improvements during the past 10 years.”

            “With long-term tenancy, well-staggered lease expirations and 78 percent occupancy at the time of the sale, the Brookshire Medical Building provides the new owner with stable income, value-add opportunities and excellent long-term appreciation potential,” adds Black.

David Black

            The building is located at11411 Brookshire Ave. in Downey, Calif. Four major interstate freeways, 710, 605, 105 and 5, are nearby, as is public transportation access.

            The Brookshire Medical Building was constructed in 1970 on a two-acre-plus signalized corner parcel. Recent renovations include roof work, elevator modernization, parking lot slurry, HVAC compressors and exterior paint.

  

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

Gina Relva

Public Relations Manager

(925) 953-1716

North Phoenix, AZ Apartment Community Sells for $10.1 Million

  

Tuscany Pointe Apartments, Phoenix, AZ

PHOENIX, AZ, May 15, 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 Tuscany Pointe Apartments, a 236-unit multifamily community in Phoenix, Ariz. The $10,100,000 sales price equates to $42,797 per unit.

Cliff David

            Cliff David, a Marcus & Millichap vice president investments, and Steve Gebing, a senior director with Institutional Property Advisors, a Marcus & Millichap company, both located in the firm’s Phoenix office, represented the seller, Howe Group LLC. David and Gebing also advised the buyer, The Lodge Complex Tulsa LLC.

            “Built in 1981 in an established north Phoenix neighborhood, Tuscany Pointe is well positioned for revenue enhancement through strategic interior and exterior renovations,” says David.

            The property is located on 8.3 acres at 14830 North Black Canyon Highway in Phoenix between the North Interstate 17/Deer Valley employment corridor, an area encompassing 17.5 million square feet of retail, office, industrial and flex space and the Metrocenter Mall, a 107-acre shopping center composed of approximately 1.7 million square feet of retail space.

Steve Gebbing

            Developed by Lincoln Property Co., each Tuscany Pointe apartment features a fully equipped kitchen with a large pantry space, an oversized bathroom vanity and pre-wiring for cable television.

Walk-in closets, ceiling fans, built-in microwaves, balconies/patios and upgraded wood-style vinyl flooring are available in select units.

 Community amenities include two swimming pools, a fitness center with cardio- and weight-training equipment, a sport court, barbecue grilling stations, a shaded playground, two laundry facilities and lighted, covered parking.

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

Gina Relva

Public Relations Manager

(925) 953-1716

Kiser Group Brokers Six Property Sales Including Condos, Apartment, Mixed-Use, and Retail in Chicago Area

  

4141 North Kedzie Avenue Apartments, Irving Park neighborhood, Chicago, IL

CHICAGO, IL (May 15, 2014) – Kiser Group, Chicago’s leading mid-market commercial real estate brokerage firm, recently brokered the sales of six Chicago-area properties.

                6938 S. Cregier Avenue

         Jackson Park Highlands District

                    Chicago, IL  

The April 2014 closings included 19 units in a 24-unit condominium building in Irving Park; a 32-unit walk-up apartment property in the Jackson Park Highlands District of Chicago’s South Shore neighborhood; a six-unit, mixed-use property in Edison Park; a free-standing retail building in Bolingbrook; a five-unit apartment property in Humboldt Park, and a 12-unit apartment building in Bronzeville.

The properties include:         

4141 N. Kedzie – Irving Park

6938 S. Cregier – Jackson Park Highlands/South Shore

6710-12 N. Northwest Highway – Edison Park

109 Southwest Frontage Road - Bolingbrook

1651 N. Francisco – Humboldt Park

4317 S. Michigan - Bronzeville

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

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

Griffin-American Healthcare REIT III Meets Minimum Offering, Enters Agreements to Acquire Three Atlanta Medical Office Buildings

Dan Prosky

ATLANTA (May 14, 2014) – American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT III, Inc., announced today that the REIT reached its minimum offering of $2 million in subscriptions on May 12.

 As a result, all initial subscribers have been admitted as stockholders of Griffin-American Healthcare REIT III and proceeds from initial subscriptions that had been placed in escrow until the minimum offering was reached have been released by the escrow agent, provided that residents of Washington and Pennsylvania will not be admitted until aggregate subscriptions exceed $20 million and $87.5 million, respectively, in shares sold. 

These funds are now available to the REIT for the acquisition of real estate assets and other purposes. 

“Each of these medical office buildings is located near, or closely affiliated with, a large hospital system in the heart of a thriving community with growing demand for healthcare services,” said Dan Prosky, a principal of American Healthcare Investors and president and chief operating officer of Griffin-American Healthcare REIT III. 

“These are among the key traits we seek when evaluating an asset for acquisition, and make these three Atlanta-area medical office buildings ideal acquisitions for Griffin-American Healthcare REIT III.”

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

Damon Elder  

(949) 270-9207

delder@ahinvestors.com

HFF arranges sale of landmark Raleigh Hotel in Miami Beach, FL

Raleigh Hotel, 1775 Collins Avenue, Miami Beach, FL

Claudia Steeb

MIAMI, FL – HFF announced today that it arranged the sale of the Raleigh Hotel, a 105-room, historic art-deco hotel located on the Atlantic Ocean in the heart of Miami Beach, Florida.

                HFF was engaged by the affiliates of Tristar Capital led by David Edelstein and sbe Hotel Group (“sbe”) led by Sam Nazarian, to identify possible strategic capital alternatives, including a recapitalization, financing and potential sale, for the iconic oceanfront property located at 1775 Collins Avenue. 

The acquisition of the Raleigh Hotel by The Raleigh Group, the luxury hospitality group founded by Tommy Hilfiger, proved to be a unique strategic opportunity for Tristar and sbe to honor the iconic stature of the hotel through its sale to a world renowned designer and entrepreneur committed to preserving the Raleigh’s unique style and rich history. 

sbe will continue to manage the property, which will soon undergo a transformational renovation under the direction of The Raleigh Group’s recently appointed CEO, David Pisor.               

Max Comess

The HFF real estate investment banking team representing the seller was led by Manuel de Zarraga, Max Comess and Cyrus Vazifdar, along with the assistance of Claudia Steeb and Dan Peek.

“The extraordinary interest of the capital markets and investors in landmark Miami Beach lodging properties, such as the Raleigh, is driven by the recognition of South Beach as a top-tier global destination, coupled with the virtual absence of oceanfront property opportunities,” commented executive managing director de Zarraga.

Comess, a director in the hotel group, adds, “The sale of the Raleigh Hotel is one of the most significant trades in the history of Miami Beach’s lodging market in that it combines one of the country’s most prized hotels with a visionary lifestyle leader and entrepreneur, Tommy Hilfiger.”

HFF’s hotel group has been extremely active in South Florida, which has emerged one of the top investment targets in the U.S for domestic institutional and foreign hotel owners across all lodging segments. 

The HFF hotel group previously arranged the sale of the Seville Beach Resort, which is in its final stages of redevelopment and will soon reopen as the Edition South Beach. 

More recently, the team arranged the recapitalization of the Cheeca Lodge and sales of properties including Haddon Hall in Miami Beach, Ritz-Carlton Fort Lauderdale and the Waldorf Astoria Naples.

Tristar Capital is a leading New York City-based real estate firm that builds and invests in both commercial and residential properties, including the W South Beach Hotel and numerous retail properties such as Miracle Mile Shops in Las Vegas and high street retail in New York and Miami Beach.

sbe is a global hospitality and entertainment company helmed by visionary founder, chairman and CEO Sam Nazarian, which comprises a thriving collection of award-winning hotels, casinos, residences, restaurants and nightlife destinations, including the SLS South Beach, Beverly Hills and Las Vegas.

Manuel de Zarraga

The Raleigh Group is an affiliate of Hilfiger Hospitality, a new hospitality venture formed by Tommy Hilfiger to develop a new international luxury lifestyle hospitality brand that brings to life Tommy's passion for authentic service and first class hospitality.

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 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