BKM Capital Partners Increases Investment in Las Vegas; Acquires Two Assets Totaling $27.5 Million as part of $200 Million Comingled Fund

Cheyenne Technology Center, Las Vegas, NV

LAS VEGAS, Nevada, (December 1, 2014) – BKM Capital Partners, a fund manager and operator platform targeting value-add, multi-tenant industrial real estate in the Western U.S., has increased its investment in Las Vegas with the acquisition of two multi-tenant industrial parks encompassing 309,932 square feet of space, bringing its Las Vegas portfolio to over one half-million square feet.

Formed in 2013 and currently raising its first commingled fund, BKM Capital Partners acquired the assets for a total of $27.5 million.

These acquisitions represent the fourth and fifth investments on behalf of the fund, joining properties in Phoenix and Portland, as well as another in Las Vegas.

Brian Malliet

“Paramount to our firm’s mission as we grow and raise institutional capital is ensuring that each acquisition precisely meets our defined investment criteria.  As we scale up, we must also stay true to our process,” says Brian Malliet, CEO and Co-Founder of BKM Capital Partners.

 “Target assets such as Cheyenne and Wind River allow us to do just that, and our acquisition pipeline is well-stocked with deals such as these in markets like Las Vegas, upon which we remain bullish.”

BKM is the only fund manager specifically targeting value-add multi-tenant industrial properties in the Western U.S., according to Malliet, who notes that the firm continues to be active in both acquisitions and capital-raising, and expects to attract strong investor interest based on its specialization and track record.

  

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

Amanda Brenner

Brower, Miller & Cole

(949) 955-7940

abrenner@browermillercole.com

American Realty Advisors Launches Program Saving More Than One Million Gallons of Water Annually in Prominent Chicago Office Building

  

150 Wacker Drive, Chicago, IL

Jay Butterfield

CHICAGO, IL, Dec. 1, 2014 – American Realty Advisors, an institutional real estate investment manager with more than $6 billion in assets under management has announced the launch of a new sustainability initiative, beginning at 150 N. Wacker Drive, a 31-story office tower in Chicago, Illinois, designed to reduce water consumption by more than one million gallons per year at the property.

“Commercial properties currently account for nearly 40 percent of total energy use in the U.S., and 38 percent of total greenhouse/carbon dioxide emissions,” says Jay Butterfield, Managing Director, Fund/Separate Account Operations, of American.  

“For this reason, sustainability strategies are a top priority for American and for our investors.  By saving resources, we can conserve power, decrease environmental impact, and reduce operating costs.”

150 N. Wacker recently underwent LEED re-certification in early 2014.  As part of this process, American conducted a detailed analysis of existing building systems and developed a plan to reduce energy and resource usage, according to Butterfield.

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

Lexi Astfalk / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

LAstfalk@browermillercole.com

www.americanreal.com.

HC Real Estate Capital Arranges $18 Million in Financing for Multi-Family Community In Sarasota, FL

  

Marigot Bay Apartments, Sarasota, FL

Chris Caveglia

Sarasota, FL, Dec. 1, 2014 -- Chris Caveglia and Kurt Hoffmann of HC Real Estate Capital have arranged $18,000,000 in a financing for Marigot Bay Apartments in Sarasota, Florida.  Financing was arranged through a Life Company Relationship at a competitive rate with 7 years of Interest Only.

 Marigot Bay apartments is a 220-unit garden style apartment community, built in 2003 and situated on 18.88 acres.  The 220 units are comprised of 64 one bedroom, one-bathroom units, 108 two-bedroom, two bathroom, 44 three bedroom, two-bathroom units and 4 four bedroom, two bathroom units.  

Property amenities include an elegant clubhouse, leasing and management offices, lakefront lagoon-style pool and heated spa, two scenic lakes, detached garages, gas BBQ grills, and a fully equipped fitness center.  

Kurt Hoffman

Chris Caveglia, Principal at HC Real Estate Capital states, “All sides of the transaction worked well together to meet the closing deadline.”  

HC Real Estate Capital, LLC is a privately owned mortgage-banking firm founded by Kurt Hoffmann and Chris Caveglia.  

Based in Delray Beach, Florida, HC Real Estate Capital arranges permanent and bridge commercial and multifamily real estate loans.

 The company has a broad capital provider base that includes insurance companies, CMBS lenders, pension fund advisors, and commercial banks.

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

Chris Caveglia

HC Real Estate Capital, LLC

660 Linton Blvd. Ste 200 EX5

Delray Beach, FL 33444

Direct: 561-266-3273

Mobile: 561-376-3176

ccaveglia@hcrecapital.com

www.HCREcapital.com

Taylor & Mathis Reports Strong Activity at Sawgrass Corporate Park in Sunrise, FL

Jennifer Gemma

Sunrise, FL Dec. 1, 2014     Taylor & Mathis has inked 30,000 square feet of renewals & expansions as well as 5,100 square foot new deal at Sawgrass Corporate Park in Sunrise, Florida.

  Donna Korn and Jennifer Gemma of Taylor & Mathis negotiated the leases on behalf of the buildings’ owner, The Brookdale Group. 

Regus Business Centers, the world’s largest provider of flexible workplaces, signed a 24,500 square foot renewal at the park’s International Place I office building. Co-brokers Keith Edelman and Scott Goldstein of Jones Lang LaSalle represented Regus.

American Recovery Service Incorporated (ARSI), a commercial collection agency, nearly doubled their office space signing a renewal and expansion of 5,500 square feet at the park’s Corporate Center I office building. Co-brokers Carlo Brignardello and Alex Brown of Cresa Partners represented the tenant. 

Donna Korn

ETI Financial Corp, one of the country’s leading providers of insurance premium financing, signed a new lease for 5,100 square foot lease at Corporate Center I with co-broker Peyton Moore of Avison Young representing the tenant.

“Renewals are the best testament to the quality of an office building as well as its ownership and management,” stated Korn.  “Tenants today have boundless office space choices.

“We’re especially pleased Regus and ARSI decided to remain at Sawgrass Corporate Park and to welcome ETI Financial Corp.”

The buildings are located within Sawgrass International Corporate Park, South Florida’s largest office park. Strategically bound by I-595, I-75 and Sunrise Boulevard, the state-of-the-art business park features a variety of business space from high-tech manufacturing and R&D to executive office suites and mid-rise Class A office projects. 

Sunrise Corporate Park, Sunrise, FL

Taylor & Mathis, the exclusive leasing agent for the properties, leases and manages a 436,853 square foot office portfolio at the park comprised of Corporate Centre I, II & III, International Place I and Sawgrass Plaza.

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

Donna Korn dkorn@taylormathis.com (954)845-8840

RealtyTrac Reports U.S. Median Home Price in October Increases to Highest Level Since September 2008 but still 19 Percent Below Peak

Darren Blomquist

IRVINE, CA — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, released its October 2014 Residential & Foreclosure Sales Report, which shows the median sales price of U.S. single family homes and condos in October was $193,000, up 2 percent from the previous month and up 16 percent from a year ago to the highest level since September 2008 — a 73-month high.

“This U.S. recovery is largely being driven by investors, and as the lower-priced, often distressed inventory most appealing to investors dries up in a given market, investor activity will slow down in that market and move to other markets with more ideal inventory available,” said Daren Blomquist, vice president at RealtyTrac.

“This has created a ripple-effect recovery moving out from traditional investor hot spots such as Phoenix, Atlanta and many California markets and into markets such as Charlotte, Columbus, Ohio, Dallas and Oklahoma City.”

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

Jennifer von Pohlmann

949.502.8300949.502.8300, ext. 139

jennifer.vonpohlmann@realtytrac.com

Berger Commercial Realty Broker Closes Sale of Downtown Fort Lauderdale, FL Office Property

Keith Graves

FORT LAUDERDALE, FL - Berger Commercial Realty, a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced a new sale transaction.

 Berger Commercial Realty broker Keith Graves represented REKN Investments Corp. in selling a 5,627-square-foot office property, known as the Legal Center, for $706,000 to Velocity Properties, LLC. Velocity was represented by David Burgess of Meridain Realty Management.

Located at 888 S.E. 3rd Ave. in Fort Lauderdale, the building is within walking distance to the courthouse and ideal for law firms. Velocity will use the property for its corporate offices.

                                                             

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

Marcus & Millichap Arranges Sale of Eusonian Apartments in Tampa, FL for $1.2 Million

Eusonian Apartments, 610 West Horatio Street, Tampa, FL

Cameron Barbas

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 The Eusonian Apartments, a 14-unit apartment property located in Tampa, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $1,200,000.

Cameron Barbas, associate, Michael P. Regan and Francesco P. Carriera, vice presidents investments in Marcus & Millichap’s Tampa office, represented both parties in the transaction.

The Eusonian Apartments were built in 1974 and are located at 610 West Horatio Street in Tampa, Florida.  The property is situated on approximately 0.24 acres of land and consists of five studios with 336 rentable square feet and nine, one-bedroom/one-bathroom units with a range of 336 to 547 rentable square feet. 

Michael P. Regan

Since 2011, approximately $209,000 of capital improvements have been made to the property.

“This property closed at full list price within 69 days of the initial day of marketing for this Hyde Park asset, and we received multiple offers from both local and out-of-area investors,” says Barbas. 

“The Eusonian Apartments sold at $234 per square foot, due to the pristine interior and exterior upgrades the seller had made to the property. These upgrades allowed current rents to reach nearly $2.50 per square foot for the studio and one-bedroom units.”

“This sale represents the highest price per square foot transaction for a small apartment in the Hyde Park sub-market since the downturn,” concludes Barbas.

                                                            

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

Richard D. Matricaria

Vice President/Regional Manager

Tampa, FL

(813) 387-4700

24-Hour CVS/Pharmacy in Saugus, MA Brings $11.34 Million

Jennifer Athas

SAUGUS, MA – 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 24-hour CVS/pharmacy located approximately 13 miles north of Boston in Saugus, Mass.

The $11,340,500 sales price equates to $879 per square foot.

            Laurie Ann “LA” Drinkwater, vice president investments in Marcus & Millichap’s Boston, Mass. and New Haven, Conn. offices, along with Seth Richard in the firm’s Manhattan office, represented the seller, a national net-lease investor.

Steven Siegel in Marcus & Millichap’s Manhattan office represented the buyer. Jennifer Athas, senior associate in Boston, is the firm’s broker of record in Massachusetts.

            “The new owner took advantage of an excellent opportunity to acquire a strategically developed CVS drugstore on a long-term double-net lease with increases,” says Siegel.

Laurie (L.A.) Drinkwater

“This Route 1 corridor location north of Boston has some the highest traffic counts in the region,” adds Drinkwater.

“The site was originally acquired with redevelopment in mind. 

The three-tenant building that formerly occupied the property was demolished and three new buildings were constructed, each on its own tax parcel.”

“New development in this submarket is challenging as the rocky topography makes site work costly and municipal approvals for development are not easily obtained,” Richard concludes.

           

 The freestanding drugstore is located on the southbound side of Route 1 near the Main Street interchange at 1075 Broadway St. in Saugus. 

More than 115,000 vehicles per day pass the site. The property shares cross easements with a 22,500-square-foot JoAnn Fabrics store, a freestanding Bank of America branch and a 6,100-square-foot building occupied by North Shore Medical.

There are attached condos and apartments to the immediate rear of the site. Square One Mall, a 650,000-square-foot regional mall anchored by Filene’s, Filene’s Basement, Best Buy, Sears and Gold’s Gym is nearby.

The 24-hour CVS /pharmacy was built on 1.27 acres in 2008.

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

Gina Relva

Public Relations Manager

Marcus & Millichap Capital Corporation

(925) 953-1716

IPA Capital Markets Arranges $17.2 Million Multifamily Acquisition Loan in Atlanta, GA

Anita Paryani

Atlanta, GA – Institutional Property Advisors Capital Markets (IPACM), a leading provider of debt and equity placements and advisory solutions for major investors, has arranged $17,200,000 in financing for the purchase of a 153-unit high-rise apartment building in Atlanta.

            Jake Roberts and Anita Paryani, both first vice presidents capital markets in IPACM’s West Los Angeles office, structured the debt.

            “We closed the loan in just 30 days from start to finish,” says Roberts, “and the financing includes seven years of interest-only payments at a full debt service coverage ratio.”

“As always, our goal is to add value for clients in every way possible, and in addition to finding the most aggressive debt and closing quickly, we were called upon to negotiate the asset’s insurable value down by over $20 million as the appraisals’ insurable value came in quite high, which significantly impacted insurance costs until we solved the problem,” adds Paryani.

153-unit Apartment Building, Atlanta, GA

The loan is structured with a 12-year fixed term, amortized over 30 years after a seven-year interest-only period with a fixed interest rate of 4.04 percent. The loan to value is 56 percent.

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

Gina Relva

Public Relations Manager

Marcus & Millichap Capital Corporation

(925) 953-1716

$7.6 Million Bridge Loan in Hatfield, PA Arranged by Marcus & Millichap Capital Corp.

  

Matthew Rosenberg

 HATFIELD, PA – Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has arranged $7,659,300 in bridge financing for a mixed-use development project in Hatfield, Pa.

Matthew Rosenberg, associate director in MMCC’s Philadelphia office, arranged the financing.

“Our client needed to fund site improvements that would add significant value to the property, but the existing lender was unwilling to increase their loan amount,” says Rosenberg.

“We analyzed the client’s needs and MMCC identified a regional lender that provided a bridge- to-perm loan that would both replace the existing mortgage and provide the owner with additional proceeds. 

"We arranged 18 months of interest-only financing through the construction phase. After that, the loan converts to a permanent loan,” Rosenberg concludes.

The loan was structured with an 18-month initial term, an 18-month extension and an interest rate of 4.25 percent. The LTV is 65 percent.

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

Gina Relva

Public Relations Manager

Marcus & Millichap Capital Corporation

(925) 953-1716

Passco Companies Acquires Newly-Constructed, Leed Gold-Certified Class AA Multifamily Community in Greater Atlanta, GA for $38.8 Million

Twenty25 Barrett, 2025 Barrett Lakes Boulevard, Kennesaw, GA

KENNESAW, GA  – Passco Companies, LLC has acquired the recently completed 238-unit Class AA multifamily community Twenty25 Barrett for $38.8 million.

Gary Goodman

 The LEED Gold certified community, which was completed in February 2014, is located just outside Atlanta in the City of Kennesaw, Georgia, at 2025 Barrett Lakes Boulevard within business-centric Cobb County, according to Gary Goodman, Senior Vice President Acquisitions of Passco Companies.

 “Twenty25 Barrett is an institutional level multifamily asset, located in the rapidly growing economic hub of Cobb County,” explained Goodman.

“The asset’s location is directly aligned with Passco’s ‘Next 10’ acquisition strategy, through which we acquire properties in markets that are poised for growth and expansion over the next ten years.”

He continues, “Twenty25 Barrett’s prime location in this booming business-centric market will fuel progressive rent growth and demand for quality housing for years to come, making this a strategic acquisition for our investors.”

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

Corynne Randel / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

CRandel@browermillercole.com

Cohen Commercial Realty Signs Mauricio’s Barbershop In New Lease Transaction at Palm Bay West Shopping Center in Florida

Palm Bay, FL — Bryan S. Cohen, and Jason Guralnick of Cohen

Commercial Realty, Inc., announced the signing of Mauricio’s Barbershop to lease a 750-square-foot space at Palm Bay West Shopping Center located on the SW corner of Malabar Rd and Minton Rd.

Cohen Commercial Realty, Inc., represents the Landlord in

this transaction.

Cohen Commercial Realty, Inc., is a full service commercial real estate brokerage firm dedicated to fulfilling client needs quickly

and efficiently throughout the South Florida market and beyond.

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

Jamie Crocker

jamiecrocker@cohencommercial.com

561.471.0212 phone

561.471.5905 fax

HFF secures $140 million financing for the Omni San Diego, CA hotel

Omni San Diego Hotel, 675 L Street in San Diego’s Gaslamp Quarter

Whitaker Johnson

DALLAS, TX – HFF announced it has secured a $140 million financing for the Omni San Diego hotel, a 511-key luxury, convention center hotel in San Diego, California.

Working on behalf of the borrower, a joint venture between TRT Holdings and JMI Realty, HFF arranged the 15-year, fixed -rate loan through AIG Investments.  Proceeds from the financing will be used to refinance the existing debt on the hotel.

                The hotel is located at 675 L Street in San Diego’s Gaslamp Quarter, a popular downtown dining, entertainment and urban shopping district. 

The 200,000-square-foot-hotel is directly across Harbor Road from the main entrance of the San Diego Convention Center and within walking distance to more than 100 restaurants, galleries and boutiques. 

The Omni San Diego was built in 2004 and renovated in 2013.  Within its 21 floors, the hotel contains 257 king rooms, 221 double rooms, 14 one-bedroom junior suites, 13 one-bedroom parlor suites, four hospitality suites and two VIP suites.

James Fowler

 McCormick & Schmick’s Seafood Restaurant, a nationally-renowned restaurant, occupies space in the hotel and provides 24-hour guest room dining.

 Additionally, the Terrace Bar & Grill provides poolside dining and Morsel’s, a gourmet coffee bar and gift shop, is in the lobby.  Hotel amenities include an 8,000-square-foot rooftop terrace, 27,000 square feet of meeting space, outdoor heated pool and spa and full-service fitness center. 

Not included in the financing are 11 floors containing 36 condominiums accessible by an entrance separate from the main hotel entrance.

                The HFF debt placement team representing the borrower was led by senior managing director Whitaker Johnson, managing directors James Fowler and Scott Hall and real estate analyst Sarah Baccich. 

                TRT Holdings is a privately-owned, diversified holding company located in Dallas, Texas.  Assets include Omni Hotels & Resorts, Gold's Gym International, Tana Exploration and numerous investments in public companies and various real estate ventures. 

Scott Hall

JMI Realty is a private real estate investment and development company that currently manages a real estate investment portfolio valued at approximately $600 million.

 The company is also the master developer of the Ballpark District in San Diego. JMI Realty was established in 1992 as the real estate investment subsidiary of JMI Services, Inc.

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

Essex Realty Group Brokers the Sale of an 11-Unit Multi-Family Building in Chicago, IL

Kate Varde

 CHICAGO, IL – November 19, 2014 - Essex Realty Group, Inc. is pleased to announce the sale of 500 W. Belden Ave. in Chicago, Illinois.

500 W. Belden Ave. is an eleven unit, multi-family property situated on the northeast corner of Cleveland and Belden Avenue.

The property is located within walking distance of beaches, parks, and recreation along Lake Michigan’s shore and steps from the abundant restaurants and shops of the Clark, Lincoln, and Armitage Avenue commercial corridors.

Conveniently located near public transportation, the property is situated one half-mile from the CTA Fullerton “El” station that services the red, brown, and purples lines.

The sale price was approximately $2,350,000.

Douglas Imber

Doug Imber and Kate Varde were the brokers on the transaction.

Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

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

Douglas Fisher

Essex Realty Group, Inc.

773.305.4910

dougfisher@essexrealtygroup.com

www.essexrealtygroup.com

McCarthy Moves to Larger San Diego, CA Headquarters

Bob Betz

SAN DIEGO, CA – McCarthy Building Companies, Inc., one of the nation’s oldest and largest privately held construction firms, has moved its San Diego operations to a new 17,000-square-foot office headquarters located within Sky Park Office Plaza at 9275 Sky Park Court, Suite 200, San Diego, Calif. 92123.

 Previously housed at 6165 Greenwich Drive in Governor Park, the company began occupying its new space on November 24th.

 “San Diego is a community that has offered diverse building opportunities in markets we specialize in, including healthcare, K-12, higher education, corporate commercial, bioscience and parking facilities,” said McCarthy Executive Vice President Bob Betz, who is charged with overseeing the operations of McCarthy’s San Diego operations.

 “After building here for 33 years, we are solidly invested in the community and have built strong relationships with the area’s building owners and facility planners, architects and subcontractors. 

“We see a lot of opportunity on the horizon, and have moved to larger headquarters that will support our continued growth and investment in new technology and systems to offer our clients a diverse range of services, from building information modeling, pre-construction and design management to traditional general contracting services.”

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

Bonnie Kutch, bkutch@kutchco.com Phone: (619) 299-1010  

                                

Susan Garritano, sgarritano@mccarthy.com  Phone: (314) 968-3300

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