Bob Kaplan Joins Marcus & Millichap Denver as Senior Associate, National Multi Housing Group

Bob Kaplan

DENVER, CO,  Sept. 17, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced that Bob Kaplan has joined their Denver office as a senior associate with the National Multi Housing Group (NMHG).

            Prior to his career in multifamily brokerage, Kaplan was a Commodity Options Trader on the New York Mercantile Exchange. He spent nine years on the floor of the Exchange before moving from New York to Arizona. 

            In 2002, Kaplan launched his career in multifamily and investment brokerage with Bourn Partners in Tucson, quickly establishing himself as the firm’s top earner in 2004 and 2005. In 2006 he moved to Cushman & Wakefield I PICOR, becoming a Principal and growing the firms’ multifamily presence in the southern Arizona marketplace. At Marcus & Millichap Kaplan will focus on private client multifamily investments for the NMHG.

Richard Bird

            “Bob’s knowledge of capital markets, paired with his familiarity with regional and local real estate, makes him a great fit for our team,” says Richard Bird, vice president and regional manager for Marcus & Millichap.

Kaplan received his B.S.B.A. in finance from the University of Arizona.  He also holds a Masters of International Management from the American Graduate School of International Management.

Contact Bob Kaplan at (303) 328-2034 or email Robert.Kaplan@Marcusmillichap.com.

 

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

Gina Relva

Public Relations Manager

(925) 953-1716                                                                      

Dan Hayward Joins Marcus & Millichap National Hospitality Group as Senior Director

Dan Hayward

SACRAMENTO, CA,  Sept. 17, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, is pleased to announce the appointment of Dan Hayward to the position of senior director of Marcus & Millichap’s National Hospitality Group (NHG).

Hayward will be based in the firm’s Sacramento office, according to Gregory LaBerge, vice president and national director of the NHG.

“We are pleased to welcome a solid investment professional like Dan to the firm,” says LaBerge. 

“His extensive experience adds value in teaming our clients’ real estate investment objectives with local investment market expertise, and provides an entryway for clients to leverage our national platform,” adds LaBerge.

 “Dan has over 20 years of experience and deep relationships with principals of full service hotels and investment properties in Northern California and Nevada,” adds Justin White, vice president and regional manager of the firm’s Sacramento office. “His many years of experience will help us support the NHG in expanding quality services to clients on the West Coast as well as across the country.”

Gregory LaBerge

        Prior to joining Marcus & Millichap, Hayward was vice president of investment services at Colliers International, where he focused on seller representation for investment properties throughout the Central Valley and Bay Area. While at Colliers, Hayward led the hotel investment services practice group for the West Coast. 

         Hayward studied at Illinois State University and he is a licensed Real Estate Broker with the State of California Department of Real Estate.

 He is a member of Asian America Hotel Owners (AAHOA) and California Lodging Industry Association (CLIA). Hayward is also a member of Oasis International in Kenya, Africa and Toastmasters International. 

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

Gina Relva

Public Relations Manager

(925) 953-1716                                                                      

Patricia Shelton Joins Waterton Residential as Senior Vice President

  

Patricia Shelton

CHICAGO, IL – Waterton Residential, the multifamily investment and management division of Chicago-based Waterton Associates LLC, announces that Patricia Shelton has joined the firm as senior vice president of operations.

 In her new role, Shelton will be responsible for overseeing multifamily operations in the Southeastern region and Texas.

 “As a company, we believe we’re only as good as the people we hire, so we look for candidates who are not only knowledgeable about the market, but who have a proven track record of success,” said Greg Lozinak, executive vice president and chief operating officer of Waterton Residential.

 “Patricia’s extensive operational experience, coupled with her ability to grow and manage high-performing teams, made her the perfect fit for this position, and we couldn’t be more thrilled to welcome her to the Waterton team.”

Greg Lozinak

  Shelton, who will be based in Waterton’s Atlanta office, brings more than 25 years of experience to the company, most recently serving as executive vice president of operations at Cortland Partners.

Prior to that position, Shelton was vice president of operations at Archstone, where she was heavily involved with acquisitions, dispositions and developments throughout the Southeast and along the East Coast.

 She also served as a regional manager for both Trammell Crow Residential and Summit Properties.

 "The collaborative and innovative culture at Waterton Residential was exactly what I was looking for at this stage of my career,” said Shelton. “Waterton is a very forward-thinking company that’s positioned for growth in the coming months, and the opportunity to be part of a national firm during such an exciting period in its history was one I could not pass up.”

  

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

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

R3 Funding Arranges Over $150 Million in Originations in its First 12 Months

Ray Potter

NEW YORK, NY – R3 Funding, a national lender correspondent and advisory firm based in New York, has arranged over $150 million in originations in its first 12 months.

This figure is in addition to $450 million in workout advisory services, provided across 22 separate deals. The announcement was made by Ray Potter, founder and managing partner of R3 Funding.

 With its hands on, principal level steering of both originations and workouts, R3 Funding has in a short time distinguished itself by providing customers in secondary and tertiary U.S. markets access to Wall Street as well as an array of national lenders. In addition to CMBS lenders, R3 works with the GSEs and other lenders.

 “Our focus and our sweet spot continue to be in using relationships we’ve built over decades in the business to provide Main Street with access to Wall Street and beyond,” said Mr. Potter. “These transactions certainly demonstrate that commitment. Those same relationships also give us the ability to offer significant resources for workout situations.”

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

Eric@greatink.com

Marcus & Millichap Arranges Sale of 1,880-SF Dairy Queen in Brandon, FL for $445,000

Dairy Queen, 602 West Brandon Boulevard, Brandon, FL

BRANDON, FL  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of a 1,880-square foot net-leased Dairy Queen located in Brandon, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $445,000.

Michael A. Mele, senior vice president and William Wamble, associate in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the Tampa-based seller, a local private investor.  Armando Rodriguez, also in the firm’s Tampa office, procured the local buyer.

Michael A. Meli

Dairy Queen was built in 1959 and is located at 602 West Brandon Boulevard in Brandon, Fla.  The property is situated on the city’s main thoroughfare of Brandon Boulevard in a highly visible and high-traffic area. This location has been in business since 1993 and has established well-known name recognition in the area.

“There is a growing demand for these types of single-tenant properties in the Tampa Bay MSA at the moment,” says Wamble.  “A lot of out-of-area investors are intrigued by this market due to the compression of cap rates in South Florida and other primary markets around the country.” 

“We were able to drive three offers in the first week and two of these were from out-of-area buyers looking to deploy capital in a growing area with higher yields,” adds Wamble.

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

Richard D. Matricaria

Vice President/Regional Manager

Tampa, FL

(813) 387-4700

HFF arranges financing totaling $71.75 million for development of high-rise apartment building in Portland, OR

Erica Christensen

PORTLAND, OR – HFF announced it has arranged financing totaling $71.75 million for the development of Block 67, a 21-story, 284-unit, Class A apartment building in Portland’s Central Eastside district.

                HFF worked on behalf of the borrower, a partnership led by Guardian Real Estate Services and Key Development Corporation, to arrange construction financing for the project.  Financing for the project was structured through a senior construction loan and mezzanine financing. 

                Block 67 is located at the intersection of NE 3rd Avenue and Burnside Street, just steps away from the Burnside Bridge.

Due for completion in early 2016, the property will feature 16 levels of residential apartments above approximately 24,700 square feet of retail/commercial space and parking on the first five floors.

Kerry Hughes

Community amenities will include a 9,300-square-foot eco-roof and podium level that is planned to feature fire pits, barbecue area, pet exercise area, fitness center and spa. 

Apartment finishes will be high-quality with many units offering unrivaled views of the Portland skyline. 

The HFF team was led by managing director Casey Davidson, director Mark Erland, associate director Kerry Hughes and senior real estate analyst Erica Christensen.

“Block 67 is poised to be an iconic building for the city of Portland and the burgeoning Central Eastside district.  It is the linchpin and largest component of the long-planned Burnside Bridgehead development area envisioned by the Portland Development Commission,” said Hughes. 

Mark Erland

“Upon its completion it will serve as a beacon for the Burnside Bridgehead and as a gateway to the rapidly redeveloping Central Eastside—marking a new chapter in the continued evolution of the city,” he continued.

                Through a competitive process, the Portland Development Commission awarded the project to Key Development Corporation in 2012.  As a result of a partnership among Skylab Architecture, Andersen Construction Company, Guardian Development and Key Development Corporation, the development team is excited to be one step closer to completing this project.

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

W Financial provides $8.25 Million second mortgage for retail property in New York City’s Meatpacking District

NEW YORK, NY -- W Financial has provided an $8,250,000 second mortgage bridge loan for a three-story, 15,000 square foot retail property on West 14th Street in NYC's Meatpacking District, located near the High Line and at the nexus of what has become a highly sought-after location for luxury retailers.

 The property is a commercial condominium unit. W's loan is junior to a seller-provided, purchase money mortgage and was utilized to fund a tenant buyout so that a new lease can be signed with a new tenant at a much higher rent. Our borrowers will either refinance with a bank, or sell the property.

On select transactions W Financial is pricing its bridge loans as low as 8%, with terms as long as five years depending on the usual factors such as location, loan-to-value ratio, cash flow and quality of the sponsorship.

David Heiden

Click here to see recent bridge loans closed by W, and read our home page to get a better sense of which of your prospective loan scenarios might be in our "strike zone".

W will also consider providing construction loans in Manhattan or Brooklyn for experienced developers, as well as mezzanine loans, preferred equity and joint venture equity on well-located, cash-flowing properties.

Call me to discuss or contact my partner David Heiden | david@w-financial.com (212) 684-8484, or contact our Senior Loan Officer Jarret Schochet | jarret@w-financial.com (212) 684-2205 to discuss your new bridge loan scenarios.

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

Gregg Winter - Founder & Managing Partner

W Financial Fund, LP

Special Situation Financing for Commercial Real Estate ®

149 Madison Avenue, Seventh floor

New York, NY 10016

Phone: 212 532-1122 x1

Email: gregg@w-financial.com

http://www.w-financial.com

recent news:

http://www.w-financial.com/articles.php

Marcus & Millichap Arranges Sale of Columbia Park Apartments in Tampa, FL for $1.325 Million

              

Michael Donaldson

TAMPA, FL  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Columbia Park Apartments, a 24-unit multifamily community located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The $1,325,000 sales price equates to $55,208 per unit.

Michael Donaldson, vice president investments and Nicholas Meoli, senior associate in Marcus & Millichap’s Tampa office, represented both parties in the transaction. 

Columbia Park Apartments are located at 14309 North 18th Street in Tampa, Fla.  Built in 2004, the buildings are constructed of concrete block with a stucco exterior and are situated on approximately 2.36 acres of land. 

The property consists of three, two-story residential buildings comprised of entirely three-bedroom/two-bathroom units with 1,040 rentable square feet.  Interior amenities include full-size washer and dryer connections in all units, patios/balconies, spacious floor plans, ceiling fans in living rooms and fully equipped kitchens.

Nicholas Meoli

            “Bringing an REO foreclosure sale to market in 2014 is not what it used to be several years ago,” voices Michael Donaldson. “This property garnered so much interest from the local, national and international markets that our tour days were completely booked with upwards of several hundred inquiries into the property” adds Donaldson.

“Part of the appeal of the property was that it was a 2004 concrete block construction and the unit mix was comprised of entirely three-bedroom floor plans, making this a rare find in a property of this size,” says Nicholas Meoli.

“Through our extensive marketing campaign in conjunction with Auction.com, we were able to close on the asset with an out-of-state cash buyer who was attracted to the positive property attributes and proximity to USF and the surrounding hospitals,” concludes Meoli.

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

Richard D. Matricaria

Vice President/Regional Manager

Tampa, FL

(813) 387-4700

Meridian Capital Group Arranges $17 Million in Permanent Financing for the Aloft Miami-Brickell Hotel Property Located in Miami, FL

Aloft Miami-Brickell Hotel, Miami, FL

Boca Raton, FL – Meridian Capital Group, LLC, a leading national commercial real estate finance and advisory firm, negotiated a $17 million mortgage for the cash out refinance of the Aloft Miami-Brickell hotel property located in Miami, FL.

 The 10-year CMBS loan features a competitive fixed-rate of 4.86% and interest-only payments for the full-term.

 This transaction was negotiated by Meridian Capital Group Managing Director, Michael Brown, and Loan Originator, Brad Beattie, who are both based in the Company’s Boca Raton, FL office.

 The Aloft Miami-Brickell hotel totals 160 rooms and is located at 1001 SW Second Avenue in the financial district of Miami, FL. The property is conveniently located with easy access to Downtown Miami, Brickell, Port of Miami, Miami Beach and major attractions like American Airlines Arena and Bayside.

 “The hotel has been stabilized for six months,” said Mr. Brown. “Meridian created competition in the market to distill down to those lenders with intimate knowledge of Miami’s hospitality industry who could provide attractive financing, including full-term interest-only payments, based on six months of operations and the projected cash flows,” he added.

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

Jonathan Stern

Meridian Capital Group, LLC

212/972-3600

jstern@meridiancapital.com

www.meridiancapital.com

NAI Realvest negotiates a New and Three Renewal Leases totaling more than 14,000 Square Feet at Hanging Moss CommerCenter in Orlando, FL

Michael Heidrich

ORLANDO, FL – NAI Realvest recently negotiated a new lease and three lease renewal agreements for industrial space totaling 14,075 square feet at Hanging Moss CommerCenter in Orlando. 

 Michael Heidrich, a principal at NAI Realvest and associate Kristen Kemp represented landlord Hanging Moss SPE, LLC and brokered a lease transaction with Molimedic, Inc. who sells new, used and refurbished medical and lab equipment.  The new tenant leased Suite 510 with 2,000 square feet at 6100 Hanging Moss Rd. 

 Heidrich negotiated three lease renewals at Hanging Moss CommerCenter with longtime tenants  Food Factory, Inc. occupying 6,200 square feet and Joseph M. Hooper 1,875 square feet at 6148 Hanging Moss Rd, and with Henry Auad and Fabian Pinilla at 6112 Hanging Moss Rd. occupying 4,000 square feet.

 

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

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

NAI Realvest Negotiates New/Renewal Leases at Goldenrod CommerCenter in Orlando, FL

Kristen Kemp

ORLANDO, FL – NAI Realvest recently negotiated a new lease for 2,206 square feet of industrial space at Goldenrod CommerCenter, 1468 N. Goldenrod Rd. in east Orlando.

Michael Heidrich, principal at NAI Realvest and associate Kristen Kemp brokered the transaction representing the landlord, Goldenrod SPE, LLC.  El Palo Fuerte LLC, an indoor baseball training firm, leased suite 210 with 2,206 square feet   

 Heidrich also brokered a renewal lease agreement for the same landlord.  Mobile Oval Auto Repair LLC renewed their lease of Suite 325 with 2,191 square feet at 1476  N. Goldenrod Rd. in Goldenrod CommerCenter.  

 

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

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

 

HFF closes $48.5 million sale of Amerige Heights Town Center in Fullerton, CA

Ryan Gallagher

IRVINE, CA – HFF announced it has closed the sale of Amerige Heights Town Center, a 163,514-square-foot, dual grocery-anchored retail center in Fullerton, California, a southern Los Angeles suburb.

               HFF exclusively marketed the property on behalf of the seller, an institutional investment manager.  Shin Yen International Pty, Ltd., represented by Randall Realty Advisors, purchased the asset for $48.5 million free and clear of existing debt.

               Amerige Heights Town Center is situated on 15.2 acres at 1895-1897 West Malvern Avenue in Fullerton at the intersection of Malvern Avenue and Starbuck Street, less than three miles from the Santa Ana Freeway (Interstate 5).  More than 213,000 people with an average household income of $81,000 and a median home value of $416,000 live within a three-mile radius.

 Completed in 2001, the center is 95 percent leased to national and regional tenants, including Barnes & Nobles, Gold’s Gym, Ross Dress for Less, Olympic Golf and T-Mobile.  The center is shadow-anchored by Target, with a full-service grocery component, and Albertsons, both of which were not included in the sale. 

CJ Osbrink

               The HFF investment sales team representing the seller was led by senior managing director Ryan Gallagher and associate director CJ Osbrink.  Michael Randall, principal at Randall Realty Advisors, represented the buyer.

“The stabilized profile of the rent roll, affluent demographics, and lack of well-positioned retail centers for sale in Orange County helped create a very competitive market for the Amerige Heights Town Center opportunity,” Osbrink said.

Mr. Wan-I Huang (James Huang) founded the Shin Yen International Enterprise Group (Shin Yen) in 1986.  Over the past 28 years, Shin Yen has successfully evolved from a residential construction and development company in Kaohsiung, Taiwan, into a global real estate investment organization with shopping center and office building portfolios in Taiwan, Australia and the United States. 

In the last few years, Shin Yen has increased its retail portfolio by acquiring three additional retail projects and they are actively pursuing additional acquisitions which fit its long-term strategy. 

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

Hansen Realty and Centrum Partners Buy Out Partner Angelo Gordon at Bradley Business Center in Chicago, IL

Bradlee Business Center, 2500 West Bradley Place
Chicago, IL

CHICAGO, IL – The partnership of Chicago-based Hansen Realty and Centrum Partners has taken ownership of the popular North Center office and recreation complex Bradley Business Center at 2500 W. Bradley Place with the buyout of New York City-based Angelo, Gordon and Co.

“This partnership is committed to repositioning this unique space as a premier office and recreational destination on the city’s North Side,” said John Hansen, principal of Hansen Realty.

“The property consists of 500,000 square feet on 22 acres in the very desirable North Center neighborhood of Chicago. There are few commercial space opportunities like this available in the city and recent activity has proven a testament to the benefits of this property’s location and amenities.”

For more information on Bradley Business Center, visit http://bradleybusinesscenter.com/.

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

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

IPA Sells 352 Multifamily Units in West Texas

Drew Kile

MIDLAND, TX – Institutional Property Advisors (IPA), a brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has arranged the sale of 352 multifamily units in Midland, Texas.  The property name and transaction details were not disclosed.

            IPA executive director Will Balthrope and IPA director Drew Kile represented the seller in the transaction and procured the buyer.

            “The property is a well-maintained, established multifamily asset in one of the nation’s strongest metro areas,” says Balthrope.  

“The prime location, recently rehabilitated exterior and updated landscaping made this a premier acquisition opportunity. Investors saw the potential to capture additional value and rent growth through continued enhancements.”

            “Midland’s exceptional job growth and solid long-term prospects make it one of the best markets in the nation for multifamily property performance,” adds Kile.

            Built in 1982, the property is located off State Highway 250 in Midland, one of the fastest-growing cities in the United States.

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

Gina Relva

Public Relations Manager

(925) 953-1716

IPA Sells 495 Multifamily Units in Dallas, TX

Advenir at Foxmoor Apartments, Dallas, TX

DALLAS, TX, Sept. 15, 2014 – Institutional Property Advisors (IPA), a division of Marcus & Millichap serving the needs of institutional and major private real estate investors, has arranged the sale of Advenir at Foxmoor, a 495-unit multifamily property located in Dallas. The terms of the sale were not released.

            IPA executive director Will Balthrope and IPA director Drew Kile represented the seller in the transaction and procured the buyer.

            “This property offers a prime location with direct access to dynamic retail, recreation and employment opportunities along Central Expressway,” says Balthrope.

            Built in 1974 on more than 11 acres with nearly 800 feet of frontage along Highway 75, Advenir at Foxmoor is less than eight miles north of the Dallas Central Business District.

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

Gina Relva

Public Relations Manager

(925) 953-1716