Ackerman & Co. Hires New Retail Investment Sales Broker Joseph B. Harland II

Joseph B. Harland II

Atlanta, GA – Ackerman & Co., a full-service commercial real estate firm headquartered in Atlanta, announced today the appointment of Joseph B. Harland II as associate broker to round out its investment sales team.

Harland, who specializes in the dispositions of single-tenant retail, net-leased investments, brings a wealth of business acumen and experience to the team.

Over the course of his 20-year career, he has worked with professional services clients as well as retail and restaurant owners. He has been directly involved in sales and lease transactions valued in excess of $200 million. 

Prior to joining Ackerman & Co., Joseph was an associate broker at Coldwell Banker Commercial Metro Brokers for more than seven years. 

He has held financial and consulting positions with GMAC Financial Services, Hewlett-Packard and Wells Fargo Bank. Harland also owned and operated a restaurant franchise for five years.

Harland graduated from Xavier University of Louisiana with a Bachelor of Science degree in Business Administration/Finance and earned a Master of Business Administration from Clark Atlanta University. He is a licensed real estate salesperson in Georgia and California.

He is a member of the Atlanta Commercial Board of Realtors and the International Council of Shopping Centers.  Harland is also a certified commercial investment member candidate.

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

Fara Wilson

Vice President, Marketing

P: 770.913.3904    C: 678.358.2060    F: 770.913.3965

Ackerman & Co.

10 Glenlake Parkway, South Tower, Suite 1000

Atlanta, Georgia 30328

Ackerman & Co. Sells Walgreens Property in Douglasville, GA for $5.8 Million

Walgreens, Douglasville, GA

Sean Patrick

Atlanta, GA– Ackerman & Co. has brokered the sale of a 14,490-square-foot, single-tenant, net-leased Walgreens in Douglasville, Ga. for a healthy $5,850,000 (99% of asking price). 

The property, constructed in 2002, is located at a highly traveled corner in the largest retail market in west Atlanta MSA.

Sean Patrick, vice president of Investment Sales at Ackerman & Co. represented the seller, a local investor SAUM, LLC. 

The property was purchased by Douglas Corner LLC and represented by Mark Myers of Park Place Realty, LLC.   

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

Fara Wilson

Vice President, Marketing

P: 770.913.3904    C: 678.358.2060    F: 770.913.3965

Ackerman & Co.

10 Glenlake Parkway, South Tower, Suite 1000

Atlanta, Georgia 30328

McCarthy Completes Construction of $456 Million Prebys Cardiovascular Institute in La Jolla, CA

Prebys Cardiovascular Institute, 9888 Genesee Avenue, La Jolla, CA

         SAN DIEGO, CA – McCarthy Building Companies, Inc., the nation’s leading healthcare builder, has completed construction of the new 383,000-square-foot Prebys Cardiovascular Institute and adjacent 26,000-square-foot central energy plant on the Scripps Memorial Hospital La Jolla campus, located at 9888 Genesee Ave. in La Jolla, Calif. 

         As the design-assist general contractor, McCarthy was retained by Scripps Health to perform preconstruction services for the $456 million Prebys Cardiovascular Institute before breaking ground in May 2011.

  HOK Architects was the project architect.  Jacobs Engineering Group Inc. served as the construction management firm on behalf of Scripps.  The health system will begin treating patients at the new facility in mid March.

         “This is an exciting achievement for us,” said Scripps Health Corporate Vice President, Construction and Facilities, Bruce Rainey.  “The new Prebys Cardiovascular Institute reflects the most advanced healthcare design principles together with remarkably high standards of construction.

“  It stands as a model not only for future Scripps facilities, but also for specialized heart care facilities across the country.”

         The Prebys Cardiovascular Institute is the cornerstone of a 25-year master plan unveiled in November 2010 that is transforming the Scripps Memorial Hospital La Jolla campus.

         The new Prebys Cardiovascular Institute will be a destination hospital for cardiac care on the West Coast. The facility will provide cardiovascular patients with the most advanced treatment options available, while also serving as a center for medical research, clinical trials and graduate medical education.

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

Bonnie Kutch, bkutch@kutchco.com

Kutch & Company       McCarthy Building Companies, Inc.

Phone: (619) 299-1010

Susan Garritano, sgarritano@mccarthy.com

Phone: (314) 968-3300

Avison Young completes $9.9-million sale of six-building industrial/flex property in Lakewood, WA

Lakewood 512 Business Park, Lakaewood, WA

Dan Vittone

Irvine, CA – Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has completed the $9.9-million sale of Lakewood 512 Business Park, a six-building industrial/flex property totaling 136,500 square feet (sf) in Lakewood, WA, a suburb of Tacoma.

Avison Young Principals Dan Vittone and Alan Pekarcik, based in the company’s Orange County office, represented the buyer, Newport Beach, CA-based WLA Investments, Inc.

The seller was SSC Acquisitions, Inc, an entity owned by Public Storage. The property was 83% leased at close of escrow and closed at an 8.13% cap rate.

Built in phases from 1978 to 1981 and located at 10111 South Tacoma Way, the property includes grade-level loading doors, ample parking, office and warehouse space and suites ranging from 2,000 sf to 12,000 sf.

Centrally located, the business park is easily accessible from 32nd Avenue South, South Tacoma Way, SR-512 and I-5, and is minutes from Lakewood Towne Center, which comprises a civic center with a city hall as its centerpiece, a power center, entertainment center and neighborhood center.

Alan Pekarcik

“This is the buyer’s first acquisition in the state of Washington. WLA Investments’ portfolio to date comprises similar industrial product, multi-tenant office buildings and multi-family assets in California, Colorado, Utah, Nevada and Arizona,” comments Vittone.

 “The buyer was drawn to this asset because of the in-place yields, prominent presence on Interstate 5, and the ability to increase yields over time, as current rents are approximately 40% below peak levels.

" WLA intends to invest significant capital into the project and launch an aggressive tenant outreach program in order to lease up the remaining vacant space.” 

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

Darcie Giacchetto

949.278.6224

Western National Group Launches Enhanced Institutional Investor-Focused Platform; Adds Chief Marketing officer to Oversee This Effort

George L. Ochs

IRVINE, CA  – As part of an ongoing strategy to further grow its existing base of institutional investors, Western National Group has launched an enhanced institutional investor-focused platform and appointed George L. Ochs, a former institutional real estate manager with JP Morgan, as its Chief Marketing Officer.

Ochs will work to expand Western National’s investor base by overseeing the firm’s strategic outreach to corporate and public pension funds, endowments, foundations, and high net worth individuals. 

He will also be responsible for maintaining and developing relationships with Western National Group’s current investor groups.

“As one of the largest owners and developers of multifamily product in the U.S., we recognize the potential of continuing to align ourselves with institutional investors for whom we can generate attractive yields,” says Michael Hayde, Chief Executive Officer of Western National Group. 

 “Based on our lengthy track record of strong results in this industry, we anticipate strong investor interest over the next 12 to 24 months.”

Michael K. Hayde

Hayde notes that, based on Ochs’ tremendous depth of experience in the institutional real estate industry, he will be instrumental as Western National Group continues to grow and expand its multifamily holdings.

According to Ochs, “Western National Group is a well-respected and established leader in the multifamily market. I am excited about the opportunity to work with this dynamic team in order to drive its business forward.”

Ochs brings more than 35 years of institutional real estate experience to his new role as CMO, with deep expertise in development, asset and portfolio management.

Prior to joining Western National, Ochs was a senior manager with JP Morgan for nearly 20 years.  Earlier in his career, he held a senior management position at Prudential Insurance.

Ochs is an active member of Institutional Real Estate, Inc. (IREI), the Pension Real Estate Association (PREA), and the Urban Land Institute.  

He holds an Executive MBA from the University of Colorado, Denver, as well as a General Securities Representative (Series 7) license and a Uniform Securities (Series 63) license. 

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

MG Properties Group Acquires Trillium Papago Apartments in Phoenix, AZ for $36 Million

Trillium Papago Apartments, Phoenix, AZ

Mark Gleiberman

San Diego, Calif., March 4, 2015 – MG Properties Group, a private San Diego-based real estate investor and operator, has announced the acquisition of the Trillium Papago Apartments in Phoenix, Arizona.

The property consists of 270 luxury apartments built in 2007.

 The property features an exceptional array of common area amenities, including a resort-style pool and spa, modern fitness center, movie theater, and pool room.

The property is located north-east of Phoenix Sky-Harbor Airport, providing convenient access to multiple job corridors within the region.

 MGPG plans to rebrand the property as Ascent at Papago Park. Units include nine-foot ceilings, full-sized washers and dryers, and a mix of 1, 2, and 3-bedroom floor plans. 

Trillium Papago was purchased for $36,220,000 from Trillium Residential. The acquisition was financed with a 10-year fixed-rate mortgage from Fannie Mae, arranged by CBRE. 

According to Mark Gleiberman, MG Properties Group Chief Executive Officer, “This acquisition reflects our continued belief in the long term growth potential of the Phoenix market. The property’s excellent design and central location position it well to benefit from further growth in the region.”

Trillium Papago marks MG Properties Group’s fourth acquisition in the past six months. The four acquisitions totaled approximately 700 units and $125,000,000 in combined purchase price. The company is targeting further acquisitions in Arizona, California, Colorado, Nevada, Oregon, and Washington.

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

American Realty Advisors Acquires Retail Center in Dutchess County, NY

Shoppes at South Hills, Poughkeepsie, NY

POUGHKEEPSIE, NY – American Realty Advisors, an institutional real estate investment manager with approximately $6.7 billion in assets under management, has acquired the Shoppes at South Hills, a grocery-anchored retail power center in Poughkeepsie, New York.

This asset was acquired in a joint venture with DLC Management Corporation, a privately-held, vertically-integrated owner, operator, and manager of shopping centers throughout the United States.

Stanley lezman

According to Stanley lezman, Chairman and CEO of American Realty Advisors, this asset is among one of 153 assets American Realty Advisors currently owns and operates throughout the U.S. on behalf of its investors.

“American Realty Advisors continues to acquire well-located industrial, office, retail, and multifamily real estate assets in target markets,” says Iezman. 

“We utilize our strength in asset management to identify, source and acquire properties that provide for the opportunity to create value, maximizing yields on behalf of our investors.”

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

Lexi Astfalk / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

Passco Companies Acquires Recently Completed Luxury Multifamily Community in Tampa Bay, FL for $54 Million

Azure Luxury Apartments, 540 Trinity Lane, St. Petersburg, FL

Gary Goodman

 TAMPA BAY, FL. (March 6, 2015) – Passco Companies, LLC has acquired the recently completed Azure Luxury Apartments, a 308-unit, Class A, luxury multifamily community in the City of St. Petersburg within the Tampa Bay region of Florida, for $54 million, according to Gary Goodman, Senior Vice President Acquisitions of Passco Companies LLC.

“Azure is located in one of the fastest growing job markets in the country.  The St. Petersburg region has added over 65,000 jobs in the past 18 months alone,” explained Goodman.

“With several planned office building developments underway in the region, demand for quality housing will continue to rise, especially among the area’s increasing population of professionals. 

“These factors, combined with the community’s high-end finishes and amenities, will contribute to Azure’s strong future as a profitable acquisition for Passco’s investors.”

In addition to increased job growth, Goodman also notes that there has been a lack of multifamily development in the area in recent years, as well as high barriers to entry for new developments.

“St. Petersburg’s current multifamily inventory averages 20 years in age, and there are simply no other development sites remaining in the immediate area that would accommodate a garden-style multifamily community like Azure,” he explained.

“This lack of supply has created substantial pent-up demand for quality housing, which was demonstrated during Azure’s rapid lease-up. The property is already 94 percent leased after being completed only one year ago.”

 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

       

Stonemark Managing Arizona and Texas Apartments

Ashley Park Apartments, Houston, TX

Atlanta, GA – Stonemark Management is making big strides into new markets. The firm is now managing multifamily communities in Arizona, while expanding its management portfolio in Texas.

In Mesa, Arizona, near Phoenix, Stonemark is now managing agent for The Brittany Apartments, which has 92 units, and Sierra Madre, a 206-unit property.

The Brittany Apartments, Mesa, AZ

The firm is supervising more than $1.3 million in renovations over the next two years. 

Residents at both communities will receive new appliances, flooring and fixtures. Improvements are also planned for the pool areas, landscaping and exteriors.

 Plus, the Brittany will get better heating and air conditioning, while Sierra Madre’s fitness center and leasing office will be refurbished.

Stonemark also added another Houston, Texas community to its management portfolio – Ashley Park, which is being renamed The Edge at City Centre.

The firm is managing a $2.1 million renovation of the 284-unit property, which will get a brand new fitness center and laundry room. Plans include upgrading the interiors, exteriors, both pool areas, the clubhouse, landscaping, signs and the parking lot.

Michael Taylor

Privately held real estate investment firm 29th Street Capital recently acquired all three communities, choosing Stonemark to manage its new assets.

 “Stonemark has been an excellent management partner, and we look forward to the added value its team will bring to these properties,” said 29SC Managing Partner Robb Bollhoffer.

Stonemark now manages apartment communities in 10 states, and is looking to further expand its footprint.

“Stonemark is actively seeking management and partnership opportunities in Southeastern and Southwestern markets,” said Michael Taylor, CEO of The Stonemark Group. “We pride ourselves on our depth of experience in the management, leasing, marketing, due diligence, design, development and rehabilitation of multifamily properties.”

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

Thornton Communications

Thornton-Communications/112101288827299 http://twitter.com/Ttho

p:404-932-4347 | Terri@TerriThornton.com

 www.TerriThornton.com

http://www.facebook.com/pages/

http://www.linkedin.com/in/TerriThornton

 www.stonemarkmanagementllc.com.

Chicago-Based Essex Realty Group, Inc. Celebrates 25 Years of Investment Real Estate Activity

Douglas Imber

CHICAGO, ILLINOIS – Thursday March 5, 2015 - Essex Realty Group, Inc. is proud to announce we are celebrating our 25th anniversary of serving Chicago’s investment real estate community. 

According to Costar, Essex is the leading brokerage company in Chicago’s mid-market apartment industry ($1million to $30 million).  Costar reports that during 2014, Essex completed approximately 25% of all brokered Chicago transactions, materially more than its nearest competitors. 

According to Doug Imber, President of Essex, “Technology has allowed us to access national and international investors like a national company, but we’re also able to provide our clients with information and trends at a local or granular level. 

“Similarly, while we have a large staff to thoroughly cover the market, we’ve stayed nimble enough to adjust quickly to changing market conditions. 

Douglas Fisher

“For example, we were first movers during 2007 in servicing lenders in distressed sales, capturing the leading market share in that segment.  When we saw those transactions slowing down we were able to adjust quickly and focus again on serving private capital.”

Imber added “Our differentiation relies on our market expertise, performance and client service.  But more importantly, it is based on our relationships. 

“To that end, we are grateful beyond words for Chicago’s long support and trust.  It is what has permitted us to succeed for 25 years, to have provided for our own families and, hopefully, to have made a difference in the lives of our clients and their families.”

   

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

Charles Dunn Company Completes 19,856-Square-Foot Lease with Occupational Therapy Training Program in Torrance, CA

Chris Runyen

LOS ANGELES, CA – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed a five-year, 19,856-square-foot lease renewal with Occupational Therapy Training Program (OTTP) Los Angeles.

The space is within Harbor Gateway Garden Office Park, a 94,112-square-foot, nine-building office property located at 19401 S. Vermont in Torrance, Calif. The lease is valued at $1.5 million. 

Chris Runyen, senior managing director with Charles Dunn Company, represented the tenant, OTTP, a non-profit agency that offers comprehensive life skills training, work readiness training, job placement, and a variety of support services. OTTP is a division of Special Service for Groups (SSG).

The landlord, Harbor Gateway, LLC, was represented by Dwight Everest of Sunny Hills–Palladium.

“OTTP has been growing within the property for numerous years. Because of this growth, its space wasn’t conducive to its current needs,” said Runyen. “I advised OTTP on other space options for  consideration, however, it decided to renew its lease after a successful negotiation with the owner, resulting in a compelling reduction in rent, as well as cosmetic improvements to the space.”

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

Darcie Giacchetto

949.278.6224

www.charlesdunn.com

HC Real Estate Capital Arranges Over $76,500,000 in Financings In The Last 90 Days

Kurt Hoffmann

Delray Beach, FL –  Kurt Hoffmann and Chris Caveglia of HC Real Estate Capital have arranged over $76,500,000 in commercial mortgage transactions in the last 90 days for various properties throughout Florida and Virginia. 

The pair recently arranged the following loans:

• $24,000,000 in permanent and construction financing for a 375 unit multi-family property located in Brandon Florida. 
• $16,125000 in permanent Life Company financing for the acquisition of a 143- unit multi-family property located in Newport News, Virginia.
• $10,500,000 in permanent Life Company financing for the 28,259 SF retail property located in Delray Beach Florida. 
• $6,200,000 in acquisition financing for a 57,713 SF retail property located in Key Largo, Florida.
• $5,500,000 in permanent financing for a 15,471 SF office & retail property on the island of Palm Beach in Florida.
• $4,950,000 in financing for a Wal-Mart Neighborhood Market located in Delray Beach, Florida.
• $4,200,000 in acquisition financing for a 74,522 SF retail property located in Kissimmee, Florida.
• $3,700,000 in acquisition financing for a 99,103 SF retail property located in Orlando, Florida. 
• $1,500,00 in acquisition financing for a 48,433 SF retail property located in Avon Park, Florida. 

Chris Caveglia

The Principals of the firm stated, “HC Real Estate Capital has been active in covering the market for their borrowers with Life Insurance Companies, Commercial Banks and CMBS lenders.  The recent loan closings have accomplished the borrower’s goals of acquisition financing, construction financing and ordinary refinancing of existing debt at extremely attractive rates and terms.” 

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 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

Stirling Sotheby’s International Realty Names British Transplant Tony Creese Global Marketing Specialist at Lake Nona Real Estate Gallery

Tony Creese

ORLANDO, Fla. --- Stirling Sotheby’s International Realty has named Tony Creese a Global Marketing Specialist in the firm’s Lake Nona Real Estate Gallery.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said Creese is a native of Esher Surrey, U.K.  He attended Kings College in London and  was formerly owner and CEO of a fashion manufacturing firm in London where he gained extensive experience in property development and corporate sales.  

Creese is also a highly trained airline pilot, certified in pilot training, as an examiner for instrument flight tests and is also a jet aircraft simulator instructor.  

He was chief pilot instructor at London School of Flying for 10 years and a member of the Education and Training Advisory Committee for the Royal Guild of Pilots.

Roger Soderstrom

Creese emigrated to Orlando in 2009 and became certified as a Florida Realtor.

Soderstrom said Creese will focus on representing buyers and sellers in the Lake Nona Medical City region.  He will also represent international clientele relocating to Central Florida. 

“We have great expectations for Tony,” Soderstrom said. “He has excellent contacts in the U.K. and we anticipate he will play an important role in our growth at Stirling Sotheby’s International Realty.”

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

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

NAI Global Ranked Fifth Among Top 25 Commercial Real Estate Brands in 14th Annual Lipsey Survey

Robin L. Webb

ORLANDO, Fla.  – NAI Global, the world’s largest, most powerful network of owner-operated commercial real estate firms, earned the fifth spot in the 2015 Lipsey Survey of Top 25 Commercial Real Estate Brands.

The survey was conducted among 100,000 commercial real estate professionals using a combination of ballot voting, phone interviews and focus groups to evaluate innovation, responsiveness and quality of service.

 NAI Global is the only commercial real estate network of independently owned and operated firms represented among the top five NAI Realvest based in Orlando is a member of NAI Global.

 “We are proud to be part of the NAI Global network, and that our strength and achievements are recognized by our industry peers and colleagues and reflected in the results of this year’s Lipsey survey,” said Robin Webb, managing director at NAI Realvest.

The survey is conducted by The Lipsey Company, a leading training and consulting firm specializing in the commercial real estate industry. 

The 2015 survey results can be found at http://www.lipseyco.com./brand-survey.

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

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

NAI Realvest Negotiates Leases of Warehouse/Distribution Space totaling 71,638 square feet in Longwood, FL

Michael Heidrich

ORLANDO, Fla. --- NAI Realvest recently negotiated four leases for a total of 71,638 rentable square feet of warehouse and distribution space at South Seminole Industrial Center on Florida Central Parkway off SR 434 in Longwood. 

Michael Heidrich, principal at NAI Realvest, represented the landlord Eckstein Properties, LLC of New York in lease agreements with -Bell-Chem Corp., a Florida company who renewed its lease of 30,915 square feet at 1175 Florida Central Parkway and leased an additional 15,399 square feet.     

At the same time Heidrich negotiated a lease renewal with Distributors’ Source of Florida Inc. who relocated from 1175 to 1075 Florida Central Parkway with 15,444 square feet. 

Heidrich also negotiated a new lease agreement for 9,880 rentable square feet at 975 Florida Central Parkway.  Match-Up Promotions, Inc. is the new local tenant.

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

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