Palm Plaza at Cypress Creek Retail Center in Pompano Beach, FL Sold by Marcus & Millichap for $2.8 Million

Britt Raymond

POMPANO BEACH, 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 Palm Plaza at Cypress Creek, a 44,132-square foot retail property located in Pompano Beach, Fla, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office.

The asset sold for $2,850,000.

Douglas K. Mandel, a first vice president investments, in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Jupiter, Fla. 

The buyer, a developer from Fort Lauderdale, Fla, was secured and represented by Britt Raymond, an associate, and Preet Sabharwal, an associate vice president investments, in Marcus & Millichap’s Manhattan office. 

Douglas K. Mandel

 “Palm Plaza at Cypress Creek provided an investor the unique opportunity to acquire a well-located, value-add retail center on a large five-acre site.  The property has tremendous up-side and was priced below replacement cost,” says Mandel

Located at 1400 South Powerline Road in Pompano Beach, Palm Plaza at Cypress Creek is situated just one mile from I-95 and within minutes from the Florida Turnpike.

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

Ryan Nee

Regional Manager

 Fort Lauderdale, FL

(954) 245-3400

Marcus & Millichap Directs $5.1 Million Sale of Bank of America Retail Center in Pinecrest, FL

Bank of America Retail Center, 11205 South Dixie Highway
Pinecrest, FL

PINECREST, 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 Bank of America Retail Center, an 11,428-square foot retail center located in Pinecrest, Fla.

The asset sold for $5,100,000.

Gabriel Britti and Ronnie Issenberg, vice president investments, and Victor Pastor, an associate, in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Miami 

Ronnie Issenberg

“This was a long-term investment opportunity with a strong tenant base in an extremely high barrier to entry market,” says Issenberg.  “The property has been a State Farm location for 40 years and Bank of America for 21 years. Runner’s High is also a long standing local tenant with 14 years at this location.”

Bank of America Retail Center is located at 11205 South Dixie Highway in Pinecrest and is an end cap to Sunniland Shopping Center.

The property has two floors and four tenants occupying six spaces. Bank of America and State Farm are responsible for over 50 percent of the net operating income.

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

Kirk A. Felici

First Vice President/Regional Manager

Miami, FL

(786) 522-7000

$3 Million Sale of North Miami, FL IHOP Arranged by Marcus & Millichap

 IHOP, 12875 Biscayne Boulevard, North Miami, FL

NORTH MIAMI, 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 IHOP, a 3,102-square foot net-leased restaurant located in North Miami, Fla.

The asset sold for $3,000,000 equating to $926 per square foot.

Gabriel Britti and Ronnie Issenberg, vice president investments in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from White Plains, NY.

Gabriel Britti

“This was an opportunity for an investor to acquire a trophy location IHOP on one of the most desirous parts of Biscayne Boulevard in North Miami.

" This property was constructed ground-up in 2012 and was delivered with a 20-year absolute triple-net lease with one percent annual increases in rent,” says Britti.

The lease is guaranteed by Sunshine Restaurant Partners, a 150 plus-unit IHOP franchisee. IHOP is located at 12875 Biscayne Boulevard in North Miami, FL. 

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

Kirk A. Felici

First Vice President/Regional Manager

Miami, FL

(786) 522-7000

Sale of 22-unit apartment building in boca raton, FL brokered by Marcus & Millichap

601 North Ocean Boulevard Apartments, Boca Raton, FL

BOCA RATON, 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 601 N. Ocean Blvd., a 22-unit apartment building located in Boca Raton, Fla.  

The property sold in an estate sale for an undisclosed price.

Tal I. Frydman, a first vice president investments, and Daniel J. Cunningham and Derek R. Gibbs, senior associates, in Marcus & Millichap’s Fort Lauderdale office represented the seller, a Maryland-based estate attorney, and the buyer, a limited liability company from Boca Raton, Fla. 

Tal I. Frydman

“This was a unique opportunity to purchase a boutique, rental apartment property in an irreplaceable location with high barriers to entry and significantly below-market rents,” says Frydman.

 “We generated immediate interest in the asset.  In just two weeks, we gave more than 35 property tours and received over 20 offers.  Ultimately the property sold to a buyer who came in well over list price, with no due diligence period and a two-week, all-cash close.”

The 22-unit midrise apartment building was built in 1971 and features all two-bedroom/two-bathroom units. On the east, the property overlooks the ocean and South Beach Park, and on the north, the property is contiguous to the Red Reef Golf Course.

The property is located at 601 East Ocean Boulevard in Boca Raton, Fla.

  

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

                                                        

Ryan Nee

Regional Manager,

Fort Lauderdale, FL

(954) 245-3400

$6 Million Sale of Liv @ Boca Ciega Apartments in South Pasadena, FL Brokered by Marcus & Millichap

Liv @ Boca Ciega Apartments, 1824 Shore Drive South
 South Pasadena, FL

SOUTH PASADENA, 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 Liv @ Boca Ciega, a 50-unit apartment property located in South Pasadena, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. 

The $6.0 million sales price equates to $120,000 per unit.

Casey Babb, a CCIM and vice president investments, and Luis Baez, a senior associate, in Marcus & Millichap’s Tampa office, represented both parties in the transaction. 

Casey Babb

Liv @ Boca Ciega is located at 1824 Shore Drive South in South Pasadena, Fla.  This is a Class “B” waterfront apartment community built in 1972 but extensively rehabbed between 2013 and 2014. 

  The property was originally designed by famed local architect, William B. Harvard Sr. and has been completely repositioned within the past year with approximately $900,000 in renovations to modernize and improve the overall aesthetic of the community. 

The property consists of six, two and three-story buildings on approximately 1.64 acres of land which backs up to Boca Ciega Bay and provides 12 units with panoramic water views. 

 “Given that this is a waterfront property with concrete block construction, the sale price was actually below replacement cost, in our opinion,” said Babb. 

Luis Baez

“In addition, the property recently received a major capital infusion to modernize the unit interiors, property exteriors and common area amenities which in turn, has caused rents to trend on a nice upward trajectory,” adds Babb. 

  “The buyer, to their credit, recognized the opportunity and should do very well given that they are a long-term holder.”

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

                                                         

Richard D. Matricaria

Vice President/Regional Manager

Tampa, FL

(813) 387-4700

Marcus & Millichap Brokers Sale of Buffalo Medical Center in Tampa, FL for $490,000

Buffalo Medical Center, 508 West Drive
Martin Luther King Junior Boulevard, Tampa, FL

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 Buffalo Medical Center, a 5,600-square foot office property located in Tampa, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. 

The asset sold for $490,000.

Luis Baez, senior associate and L.J. Tsunis, associate, both in Marcus & Millichap’s Tampa office, represented the local seller, a partnership.  The buyer was represented by an outside broker.

L.J. Tsunis

Buffalo Medical Center is located at 508 West Dr. Martin Luther King Jr. Boulevard in Tampa, Fla.  This is a three-suite medical office building located in the Westshore submarket of Tampa in close proximity to two hospitals.  

The property was built in 1989 and is situated on approximately 0.32 acres of land on one of the busiest streets in Tampa.

“Demand for medical offices is at an all-time high, says Tsunis.  “We were able to procure multiple-offers and drive the value of the building for the seller.”

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

                                                         

Richard D. Matricaria

Vice President/Regional Manager

Tampa, FL

(813) 387-4700

Marcus & Millichap Arranges Sale of Annie Apartments in Tampa, FL for $1 Million

  

Annie Apartments, 902 East Annie Street, Tampa, FL

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 Annie Apartments, a 36-unit garden-style apartment property located in Tampa, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $1,020,000.

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

Michael Donaldson

Annie Apartments is located at 902 East Annie Street in Tampa, Fla.  Built in 1983, the complex is situated on approximately a one-acre lot consisting of nine, two-story buildings constructed of concrete block.  The community is comprised of all two-bedroom/one-bathroom units which are approximately 850 rentable square feet. 

Amenities of the property include private patios or porches, central air conditioning and washer and dryer connections in all the units.  The roofs were also replaced on every building around two years ago.

           “By emphasizing the major upside potential of this property, our team was able to bring ten offers to the seller from a multitude of different local and out of area buyers,” said Hague.  “The seller decided to move forward with an all cash investor from South Florida who was able to close within 30 days of the contract date.”   

  

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

                                                        

Richard D. Matricaria

Vice President/Regional Manager

Tampa, FL

(813) 387-4700

Marcus & Millichap Launches IPA-Retail Division

                               

Bill Rose

                                                                      CALABASAS, CA – Marcus & Millichap is pleased to announce the expansion of its Institutional Property Advisors (IPA) division into the retail sector, according to John J. Kerin president and CEO of Marcus & Millichap.

 IPA specializes in providing real estate investment advisory, brokerage and capitals markets services to institutional and major private investors through highly experienced brokerage teams across the country.

        “We are excited to build on IPA’s success in the apartment marketplace by expanding our institutional platform into the retail market,” said Kerin.

 Bill Rose, vice president and national director of Marcus & Millichap’s retail division will oversee IPA-Retail. 

  “Bill’s extensive retail experience and client relationships will be instrumental in meeting the needs and objectives of our major retail clients,” added Kerin.

John J. Kerin

         “IPA brings together our unique combination of helping clients source acquisition opportunities and form market and portfolio strategies by utilizing our industry-leading research and maximizing value through the sale of major retail assets,” said Rose. 

 “In addition to accessing institutional buyers, one of our key advantages is accessing private capital as a result of 43-year dominance in that market segment and collaborative platform driven by information sharing,” Rose added. 

         “As a supplement to our private client focus, the launch of IPA-Retail is a key part of our overall growth plan into various specialty segments and helping our clients move capital and access a broader selection of investment opportunities,” said Hessam Nadji, senior vice president/chief strategy officer who oversees Marcus & Millichap’s national specialty divisions.

Lori Schneider

          IPA-Retail currently features a leading team of fifteen seasoned advisors located throughout the nation including Joseph French, Craig Fuller, Jon Hendrickson, Drew Kristol, Alvin Mansour, Kirk Olson, Erin Patton, Lori Schneider, Sean Sharko, Steve Siegel, Mark Taylor, Jason Vitorino, Austin Weisenbeck, Scott Wiles, and Dean Zang.

          On hand to support IPA-Retail is IPA Capital Markets led by William E. Hughes, senior vice president, Marcus & Millichap Capital Corporation.

 IPA Capital Markets provides expertise and resources to assist clients throughout the placement of equity, long-term debt, mezzanine, bridge and construction financing.

IPA Capital Markets team includes highly seasoned financing professionals including Michael G. Derk, Dean Giannakopoulos, Farhan Kabani, Chris Marks, Chad O’Connor, Anita Paryani Rice, Steven Rock, and Jake Roberts.

Erin E. Patton

         IPA is one of the country’s leading providers of institutional-quality commercial real estate investment services, including portfolio and property-level analyses, capital market solutions, research, acquisition sourcing and property sales. In 2013, the company closed over $3.3 billion in multifamily sales valued at $25 million and above.

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

Gina Relva

Public Relations Manager

(925) 953-1716

IPA Arranges Development Site Sale in Dallas, TX

Will Balthrope

DALLAS, TX – 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 an approximately six-acre development site off Fort Worth Avenue in Dallas. The terms of the sale were not released.

IPA executive director Will Balthrope and IPA director Drew Kile facilitated the sale. The buyer is Trammell Crow Residential. 

“The areas surrounding the site, including Uptown, the Dallas Design District, Victory Park, North Oak Cliff and Downtown Dallas, have all recently experienced a significant amount of redevelopment activity, especially in the multifamily sector,” says Balthrope.

Located at 641 Yorktown St., the parcel is situated between two mixed-use developments, Sylvan Thirty, which will have 201 multifamily units and 50,000-square- feet of retail and a Wood Partners project featuring 252 multifamily units and 14,329 square feet of retail. The location is less than two miles from downtown Dallas and down the hill from the historic Belmont Hotel.

Drew Kile

“This is another example of the outward expansion of the Uptown apartment boom,” adds Kile.  “As quality sites become scarce and construction and land costs continue to rise, developers are looking just outside of Uptown for the next opportunity to serve the needs of the rapidly growing renter demographic in Dallas.”

The Dallas central business district is home to more than 20 percent of the Dallas/Fort Worth Metroplex’s region’s employment base, nearly 40 million square feet of office space and more than 2,500 businesses with over 130,000 employees. 

The site has convenient access to nearby highway systems, including Interstate 30, which is located less than a quarter mile to the south and Interstate 35, which is less than two miles to the east.

  

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

Gina Relva

Public Relations Manager

(925) 953-1716

Premier Apartment Complex in Hobart, IN, Brokered by Marcus & Millichap, Sells for $11.25 Million

  

Hampshire Park Apartments, 400 North Lake Park Avenue
Hobart, IN

 HOBART, IN – 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 Hampshire Park Apartments, a 186-unit apartment community in Hobart, Ind. 

The $11.25 million sales price equates to $60,484 per unit.

            Scott Harris, senior vice president investments in Marcus & Millichap’s Chicago Oak Brook office, represented the seller, a private investment company in Merrillville, Ind. The buyer is Chicago-based Tricap Residential Group.

Scott Harris

            “Hampshire Park Apartments is the premier apartment community in Hobart,” says Harris. “It is a well-maintained, well-located apartment community that produces generous returns.”

            Built in 1972 on just less than 20 acres, the property is located at 400 North Lake Park Ave. in Hobart adjacent to open prairie and near parks, lakes and outdoor recreational areas. 

The historic Hobart lakefront district, located in downtown Hobart on Lake George, is less than one mile from the property.

Hampshire Park Apartments consists of 46 one-bedroom/one-bath units, 104 two-bedroom/one-bath apartments, 14 two-bedroom/one-and-a-half-bath units and 22 two-bedroom/two-bath apartments.

There are eight different floor plans, each with a private balcony or patio and every building has a coin-operated laundry facility and storage space for every unit. The property also has a swimming pool with sundeck and a clubhouse with multiple bar/lounge areas, a kitchen and a dining area.

Hobart, Ind. is approximately 45 minutes southeast of the Chicago Loop.

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

Gina Relva

Public Relations Manager

(925) 953-1716

WNC provides $9.5 million in LIHTC equity to fund New Affordable Housing Community Near Seattle, WA

Michael Gaber

SEATTLE, WA – WNC, a national investor in real estate and community development initiatives, announced the completion of The Villas at Lakewood, a 240-unit affordable housing community in the Seattle-suburb of Marysville.

WNC provided $9.5 million in low-income housing tax credit (LIHTC) equity to fund the project.

Located at 2606 168th Place N.E., The Villas at Lakewood is available to families earning between 50 and 60 percent of the area’s median income level.

“The Villas at Lakewood provides residents with a number of unit options and community amenities, and WNC is thrilled to help deliver vitally needed quality affordable housing to Marysville,” said WNC Executive Vice President and Chief Operating Officer Michael Gaber.

“The property is in an excellent location, adjacent to a shopping center with major retailers, and is within one-mile of Lakewood Elementary School.”

 The Villas at Lakewood was co-developed by an entity of Canddle Development Inc. and American Opportunity Foundation Inc.

The property consists of 17 two- and three-story buildings containing a mix of one-, two- and three-bedroom units. Community amenities include a clubhouse, swimming pool and spa, two playground areas, internet café, car wash area, fitness center, basketball court, storage lockers, picnic areas and an outdoor fitness area.

The community also includes walking trails and garden areas. In addition to bicycle racks, The Villas at Lakewood features surface parking, carports and detached garages.

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

Julie Leber

Account Manager

Spotlight Marketing Communications

18101 Von Karman Avenue, Suite 330

Irvine CA 92612

949-427-5172, ext. 703

julie@spotlightmarcom.com

www.wncinc.com.

Cousins Properties Signs Veritiv Corporation at Northpark Town Center in Atlanta, GA

Larry Gellerstedt

ATLANTA, GA --Cousins Properties Incorporated (NYSE: CUZ) announced it has signed a 68,315 square foot lease at Northpark Town Center in Atlanta, GA with Veritiv Corporation (NYSE: VRTV), a $9.5 billion Fortune 500 company.

Veritiv is a North American leader in business-to-business distribution solutions, serving customers across nearly every industry providing packaging, facility, publishing and print management solutions.

The company is establishing its executive offices, including company leadership and other key corporate functions, at Northpark Town Center.

With the addition of Veritiv, Northpark Town Center is now 91% leased, up from 87% at the time Cousins acquired the Class-A office complex in October 2014. Veritiv plans to take occupancy in the spring of 2015.

Mary A. Lashinger

 "Veritiv is a wonderful addition to our strong customer base at Northpark, which is now home to 19 Fortune 500 companies," said Larry Gellerstedt, president and chief executive officer of Cousins.

"Veritiv's desire to be centrally located with close proximity to MARTA validates Northpark's competitive advantage in the Central Perimeter submarket of Atlanta."

"We are pleased to bring our executive offices to the Perimeter Center area of Atlanta and Northpark Town Center,” said Mary Laschinger, Chairman of the Board and Chief Executive Offer of Veritiv.

 “The location will allow us to plan for growth as needed and allows our employees a location with access to MARTA and key transportation hubs."

Veritiv was represented in the lease negotiations by CBRE's Sam Holmes, John Shlesinger and Ellen Stern.

Ellen Stern

Cousins Properties Incorporated is a fully integrated, self-administered and self-managed real estate investment trust (REIT).

The Company, based in Atlanta, GA, primarily invests in Class-A office assets located in high growth Sunbelt markets, with a focus on Georgia, Texas and North Carolina.

The Company has a comprehensive strategy in place based on a simple platform, trophy assets and opportunistic investments. For more information, please visit www.cousinsproperties.com.

Veritiv Corporation (NYSE: VRTV), with executive offices in Atlanta, is a North American leader in business-to-business distribution solutions. 

Sam Holmes

Serving customers across virtually every industry, Veritiv provides print, packaging, facility and logistics solutions that help shape the success of its customers.

Established in 2014, following the merger of International Paper Company's xpedx division and Unisource Worldwide, the company employs approximately 9,500 team members across more than 170 distribution centers throughout the U.S., Mexico and Canada.

For more information about Veritiv and its business segments visit www.veritiv.com.

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

Cousins Properties Incorporated

Marli Quesinberry, 404-407-1898

Director, Investor Relations

marliquesinberry@cousinsproperties.com

City of Westerville, OH Announces Renaissance Hotel and Development of Westar Place

Mark Laport

Westerville, OH – The City of Westerville announced an agreement with Concord Hospitality to build a full-service Marriott Renaissance hotel and conference center at Westar Place, the site formerly known as ALTAIR Business Park.

Continental Realty/Continental Real Estate was also announced as the City’s development consultant and brokerage team for the site, a tract of 62 acres of land acquired by the City for commercial development in Westar, the growing regional epicenter of commerce located east of Interstate 71 along Polaris Parkway in Westerville.

 "The Westar Place project is a great example of the kind of strategically planned, well-balanced mixed-use urban development that considers the current needs of the community and the projected demands of future generations," said Mark Laport, president and CEO of Concord Hospitality.

"We started our company here in Ohio nearly 30 years ago, making us particularly pleased to be working with Marriott International toward the goal of bringing their terrific, upscale Renaissance hotel brand to Westerville."

“Renaissance is the right combination of a familiar brand with best-in-class traveler amenities and distinctive design that I believe will resonate well with the community and help attract businesses to this visionary town center."

  

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

Lauralee Dobbins

Daly Gray, Inc.

703-435-6293

Lauralee@dalygray.com

HFF secures equity for Fort Worth, TX mixed-use development

Jim Curtin

DALLAS, TX – HFF announced it has secured joint venture equity for the development of Waterside, a $75 million, Whole Foods Market-anchored mixed-use development located in Fort Worth, Texas. 

               HFF worked exclusively on behalf of the developer, Trademark Property Company (Trademark), in sourcing the capital from Sarofim Realty Advisors.  Equity proceeds will be used to develop the first phase of the project. 

Separately, HFF represented Trademark in the sale of 5.08 acres of land to a venture between Transwestern Development Company and a private real estate fund advised by CHC–Real Estate for the Waterside multi-housing development.

               Waterside is a future mixed-use development that will be located on 52 acres at the intersection of Bryant Irvin Road and Arborlawn Drive on the former Lockheed Martin Recreation Association site in Fort Worth. 

Trey Morsbach

The Whole Foods Market-anchored retail development will feature 1.5 miles of Trinity River waterfront and is part of the first phase of Waterside development that will include 190,000 square feet of retail space and riverside restaurants. 

The 45,000-square-foot store will be the first Whole Foods in Fort Worth.  The remaining phases will include 20-30 acres of multi-housing units, 140,000 square feet of office space and a hotel. 

               The HFF equity placement team representing the developer was led by associate director Jim Curtin and senior managing director Trey Morsbach. 

The HFF investment sales team representing Trademark in the land sale was led by senior managing directors Roberto Casas and Bill Miller and associate director Greg Toro.

               According to HFF, the land sale represents a great opportunity for Transwestern to be part of one of Fort Worth’s most exciting mixed-use developments which includes Fort Worth’s first Whole Foods Grocer.

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

www.trademarkproperty.com.

www.transwesterndevelopment.net.

www.crowholdingscapital-re.com.

HFF secures more than $17 million in refinancing on behalf of Universe Holdings for six-property Los Angeles, CA multi-housing portfolio

Charles Hallady

IRVINE, CA – HFF announced it has arranged refinancing totaling more than $17 million for six multi-housing properties in the Los Angeles metropolitan area on behalf of Century City-based Universe Holdings (Universe).

               HFF worked on behalf of the borrower to secure the seven-year, fixed-rate loans through Freddie Mac (Federal Home Loan Mortgage Corporation).  

Rates range from 3.88 to 4.11 percent.  All of the loans are securitized and will be serviced through HFF’s Freddie Mac Program Plus® Seller/Servicer Program.

               The portfolio totals 118 units and has an average occupancy of 98 percent.  The properties within the portfolio are: Chateau Barry, Chateau Olympic, Chateau Parkside, Chateau Sycamore, Citronia Luxe Towers and Islands of Tranquility; all located in Los Angeles.

               The HFF team representing Universe was led by director Charles Halladay, working in tandem with Universe founder Henry Manoucheri and his executive committee.

Henry Manoucheri

               According to Manoucheri, “We have forged a close relationship with HFF from more than 20 successful closings and value their strategic contributions to our business model, including this recent recapitalization which provided Universe with ample capital to aggressively source and purchase new deals.”

               Universe is a privately-held multifamily investment, ownership and management firm specializing in value-add and off-market transactions. 

Founded by Chairman/CEO Henry Manoucheri in 1994, the company has completed investment transactions encompassing more than 6,000 apartment units in national and international markets. 

Universe has developed a proprietary market analysis and submarket concentration model that ensures long-term value through strong fundamentals meeting institutional quality ownership strategies.

  

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