Marcus & Millichap Arranges Sale of Oakwood Garden Apartments in Ocala, FL

Joshua Teplitzky

OCALA, FL, July 28, 2015 – 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 Oakwood Garden Apartments, a 46-unit apartment community located in Ocala, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $1,725,000.

Joshua Teplitzky, investment associate, and Michael P. Regan and Francesco P. Carriera, both vice president investments, all of Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  

The buyer was also represented by Teplitzky, Regan and Carriera. 

“This property was a prime example of a value-add opportunity in a tertiary market. The seller self-managed the property and restricted the resident base to tenants 55 years or older even though there were no land use restrictions on the property,” says Teplitzky.

 “The buyer saw this as an immediate management upside through expanding the potential tenant pool and plans to capture a new demographic by updating the interior of the units.

 “We generated nine offers and found the ideal buyer out of Israel due to our international platform and our unparalleled ability to create a market for multifamily properties of this size and vintage.”

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

Richard D. Matricaria

Vice President/Regional Manager

Tampa, FL

(813) 387-4700

The Mele Storage Group Enters Weight Loss Challenge to Benefit the Self-Storage Association Foundation Scholarship Program

Tara Paronto

TAMPA, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced today that the Mele Storage Group will “trim the fat” amongst their team members to see who can lose the greatest percentage of weight.

The challenge will benefit the Self-Storage Association (SSA) Foundation Scholarship program, which provides scholarship awards up to $5,000 toward postsecondary education tuition and fees. 

This is a need-based scholarship program for students with at least a "C" average or 2.0 cumulative GPA on the 4.0 scale.

Michael Mele, senior vice president, Sean Delaney, first vice president, Luke Elliott, associate, Robert Bloch, associate, Kevin Menendez, associate, Brian Baldwin, associate, Tara Paronto, director of operations, Brian Fulton, senior analyst, and Kelly Russano, analyst, will all enter the six week challenge, which began Monday, July 27 and ends Friday, Sept/ 4,  just before the annual SSA Fall Tradeshow and Conference in Las Vegas, Nevada.

Kelly Russano

 “With the long hours and travel everyone has been putting in, our health has fallen to the back burner. 

"We realized we needed to do something to turn things around and the Vegas show coming was the perfect timing,” said Mele. 

“While this is a great cause to give back to, my health is important and I’m really tired of all the young guys in the office talking about my ‘broker body,’” Elliott adds.

Each team member will weigh in every Monday, and the results will be reported directly to the SSA for distribution to the entire self-storage community. The group will also post their progress on their social networking feed and their website at www.melestoragegroup.com.

 “It started out as a friendly competition in the office, then I thought why not use this as an opportunity to raise some money for a great cause,” says Mele. The Mele Group has pledged to donate $15 for every pound lost during the competition. “And I challenge our clients and friends to match the donation,” he concludes.

  

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

 Tara Paronto

Director of Operations,

Mele Storage Group

Tara.Paronto@marcusmillichap.com

(813) 387-4726

Crossman & Co. names John Zielinski Chief Operating Officer

John Zielinski

Orlando, FL – Crossman & Company’s Senior Vice President John Zielinski has been promoted to Chief Operating Officer, where he will oversee leasing, management and investment sales for the company. Zielinski previously served as head of the firm’s Atlanta division.

Crossman & Company President John Crossman notes Zielinski will continue to grow the company as he did with the Atlanta office, and assist with many areas of our business, including training and recruiting, as well as the internal coordination and communication of the company.

“John is a commercial industry veteran and we are thrilled to promote him as our Chief Operating Officer,” Crossman said. “He is a great asset and leader for the Crossman team.”

Prior to joining Crossman & Company, Zielinski served as an executive with Publix Super Markets, Inc. for more than 15 years in a variety of roles, including managing the leasing of the Publix shopping center portfolio.

Zielinski has a Bachelor of Science in Business Administration from Bowling Green State University, an MBA from the University of South Florida and holds the CCIM designation.

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

Sydnie Cobb

Crossman & Company

scobb@crossmanco.com

407.581.6261

Pre-Leasing Begins Aug.1 at NorthShore 770, Northbrook’s New Luxury Mixed-Use Rental Community in Illinois

                      

David Strosberg

CHICAGO, IL (July 28, 2015) — Co-developers Morningside Group and Crossroads Development Partners have announced the start of pre-leasing of the luxury rental residences at NorthShore 770, a 347-unit luxury apartment community and 101,435-square-foot retail center featuring a Mariano’s grocery store at 770 Skokie Blvd. in Northbrook, Ill.

“Since breaking ground last summer, there has been a huge amount of interest surrounding this development as there is nothing else like it on the North Shore,” said David Strosberg, president and managing principal of Chicago-based Morningside Group.

 “It’s the first in this area to combine luxury apartments complete with a doorman, upscale amenities and major retail. NorthShore 770 is a true lifestyle center and will offer best-in-class living for its residents.”

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

Vanessa Irving, virving@taylorjohnson.com, 312-267-4525

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

Marcus & Millichap Negotiates $12.5 Million Sale of Net-Leased Department Store in Eau Claire, WI

Glen Kunofsky

EAU CLAIRE, WI,  July 27, 2015 – 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 sale of a net leased department store at 955 West Clairemont Avenue. 

The sales price was $12,453,482, which at 94,705 square feet, equates to $131 per square feet.

            The listing agent was Glen Kunofsky in the firm’s Manhattan office. Kunofsky also procured the buyer. The Wisconsin broker of record is first vice president investments Matthew Fitzgerald.

            “This Shopko property provides investors with additional income stability in the future and has roughly 20 years remaining on a triple-net lease entered into on June 1, 2006,” says Kunofsky.

            The building was originally built in 1978 and was renovated in 1992. This Shopko retail store sits on approximately 9.05 acres of land, with a location that benefits from a rent per square foot that is well below market.

Headquartered in Green Bay, Wis., Shopko Stores Operating Company LLC is a $3 billion retailer that operates more than 330 stores in 21 states.

  

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

Gina Relva

Public Relations Manager

(925) 953-1716

NAI Realvest Negotiates $925,000 Sale of Three Building Industrial Park in Altamonte Springs, FL

  

Jeff Bloom

ALTAMONTE SPRINGS, FL and MAITLAND, FL – NAI Realvest recently negotiated the $925,000 sale price for the three industrial buildings totaling 17,500 useable square feet building at 865, 871 and 875 Sunshine Lane in Altamonte Springs. 

Jeff Bloom, CCIM, senior director at NAI Realvest, negotiated the transaction representing the seller, Terry D. DeBruyn and Edwin P. Young, Co-Trustees of the Bigley Revocable Trust based in Skandia, MI.  

     Orlando-based Mesar LLC is the buyer of the property and was represented by Barry Carnes of Premium Properties Real Estate Services. 

In other business, Bloom brokered the sale of an office condominium with 1,431 useable square feet at 331 N. Maitland Ave. in Maitland.  Buyer Marble Oak Properties paid $193,000 for the property. The sellers are Grey and Patricia Wilson of Lake Mary.

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

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

   

HFF arranges $44 million refinancing for retail condominium in Manhattan’s Chelsea neighborhood

611 Avenue of the Americas, Chelsea Neighborhood, Manhattan, NY

NEW YORK, NY, July 27, 2015 -- Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a $44 million refinancing for a 100-percent-leased retail condominium located at 611 Avenue of the Americas in Manhattan’s Chelsea neighborhood.

Jennifer Keller

Working on behalf of Gerald Brauser and Steven Brauser of The Parkland Group, HFF secured the 15-year, fixed-rate, non-recourse loan through Allianz Real Estate of America, Inc. on behalf of the US Allianz insurance companies.

The retail condominium is located at the base of a 10-story luxury residential property developed by The Parkland Group in 2008 and designed with floor-to-ceiling glass windows by architect Garrett Gourlay.

 In addition to three retail spaces, the building contains 41 luxury residences that were not included in the financing.  

The retail condominium totals approximately 30,000 square feet and is leased to three tenants – Chase Bank, Duane Reade and Modell’s Sporting Goods. 

Situated on the southwest corner of Avenue of the Americas (also known as Sixth Avenue) and West 18th Street, the property is in the Midtown South submarket and in the heart of Chelsea, a live-work-play mixed-use neighborhood. 

Rob Rizzi

The property is accessible via multiple subway stops within walking distance, including the 1,2, 3, 4, 5, A,C, E, F, L, M, N, Q and R lines.

 The HFF debt placement team representing the borrower was led by managing director Rob Rizzi and director Jennifer Keller.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF arranges financing for Class A multi-housing asset in suburban Houston, TX

  

Preserve at Colony Lakes Apartments, 1000 Farrah Lane, Stafford, TX

  

HOUSTON, TX, July 27, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged fixed-rate financing for Preserve at Colony Lakes, a 420-unit, Class A multi-housing community in Stafford, Texas.

Cortney Cole

HFF worked on behalf of the borrower, Venterra Realty (Venterra), to secure the seven-year, 3.22 percent, fixed-rate loan with a life company correspondent lender.  Loan proceeds were used to acquire the asset. 

Preserve at Colony Lakes was completed in 2004 and is located at 1000 Farrah Lane near the convergence of U.S. Highway 59 and State Highway 90 in Houston’s Stafford/Sugar Land submarket. 

The property is approximately 20 miles southwest of downtown Houston and offers one-, two- and three-bedroom floor plans.

 The 93-percent-leased community features two swimming pools with hot tubs and sundecks, a state-of-the-art fitness center, barbecue/picnic area, clubhouse, recreation room with billiards, business center and garage/covered parking. 

The HFF debt placement team representing the borrower was led by director Cortney Cole.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

The Habitat Company Awarded Management of New Mixed-Use Development in Chicago’s Bronzeville Neighborhood

  

Sheila Byrne

CHICAGO, IL (July 27, 2015) – The Habitat Company, a leading multifamily property developer and manager in the United States, announced it has been awarded the property management contract for Park Boulevard IIB, a 108-unit, mixed-use development in Chicago’s Bronzeville neighborhood.

Park Boulevard IIB is the second phase in a four-phase project funded by the Stateway Gardens HOPE VI Grant, a program created by the federal government that provides cities with funds to replace dilapidated public housing with newly built mixed-income communities. 

Park Boulevard IIB is part of an effort led by the City of Chicago to revitalize south State Street and the Bronzeville neighborhood, providing residents with economic growth opportunities and increasing area marketability.

“This assignment reinforces The Habitat Company’s enduring commitment to provide a superior level of service at all the properties we manage,” said Sheila Byrne, executive vice president of property management at Chicago-based The Habitat Company. 

“We’re so proud to be involved with Park Boulevard IIB and honored to have the opportunity to promote positive change and make a lasting impact on the Bronzeville neighborhood.”

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

Cara Mooses, cmooses@taylorjohnson.com, 312.267.4523

Kim Manning, kmanning@taylorjohnson.com, 312.267.4527

Waterton Associates Acquires Sunset Plaza Apartments in Southern California

  

CHICAGO, IL, July 27, 2015 – Waterton Associates LLC, a U.S. real estate investor and operator, today announced the acquisition of Sunset Plaza, a 183-unit rental community in Southern California’s San Gabriel Valley.

Located in West Covina, approximately 20 miles east of downtown Los Angeles, the five-building community includes a mix of studio, one-, two- and three-bedroom apartments with spacious condo- and townhome-style floor plans. On-site amenities include two outdoor pools, a fully equipped fitness center, resident clubhouse with business center, and a children’s playroom.

“We are actively scouting investment opportunities throughout Southern California, and the lack of multifamily development in and around West Covina over the past decade, along with projected population growth in the area, made this off-market transaction especially attractive,” said Mark Stern, senior vice president of acquisitions at Waterton Associates.

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

Steven Fischler's SRF Ventures Nears $1 Billion in Transactions

Steven Fischler

New York, NY — With a strong client base that includes prominent developers and investors in major metropolitan markets including New York and South Florida, Steven Fischler's SRF Ventures is on the verge of facilitating more than $1 billion in real estate financing and equity transactions in less than four years.

At just 33 years old, Fischler is a rising star in the real estate and financial industry. The former Lehman Brothers executive launched his boutique real estate advisory and management firm in January 2012.

Since then, SRF Ventures has worked on condo, multifamily, retail, office, hospitality and land deals nationwide. The firm's notable clients include Ladder Capital, Property Markets Group, Waramaug Hospitality and Interstate Hotels and Resorts.

SRF Ventures arranges loans and equity partners for real estate sponsors and developers. Additionally, the firm makes direct real estate mortgage loans, mezzanine loans and preferred equity investments of up to $15 million. It offers project and asset management services to financial institutions that own real estate but do not have in-house portfolio management capabilities.

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

Ilana Tescher

Account Executive

BoardroomPR

itescher@boardroompr.com

Office: 954-370-8999

Cell: 954-249-1816

EagleBridge Capital Arranges $6 Million Mortgage For Brooklyn Rite Aid Building

Rite Aid Building, 7821 Third Avenue, Brooklyn, NY

Boston, MA -- EagleBridge Capital has arranged permanent mortgage financing in the amount of $6,000,000 for the Rite Aid Building located at 7821 Third Avenue at the corner of 79th Street in Brooklyn, New York. 

Brian D. Sheehan

The mortgage financing was arranged by EagleBridge principals Brian D. Sheehan and Ted M. Sidel who stated that the loan was provided by a leading financial institution.

The first floor (9600 square feet) is leased to a Rite Aid Pharmacy which has been a tenant since 1997.  The second floor (9600 square feet) is leased to Tutor Time which has been a tenant since 1999.

Rite Aid is one of the largest operators of drugstores in the United States with over 4560 pharmacies in 31 states and the District of Columbia. Tutor Time is a national pre-school early education child care provider with over 200 schools throughout the United States. Tutor Time is a subsidiary of Learning Care Group.

Mr. Sheehan and Mr. Sidel stated, “We are pleased that EagleBridge was able to arrange non-recourse financing featuring a very attractive 10 year fixed rate and a 30 year amortization.”

Ted M. Sidel

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for apartment, shopping center, free standing retail, office, industrial, r & d, hotel, condominium, and mixed use properties as well as special purpose buildings throughout New England and the United States.

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

Stanley J. Sidel

Senior Advisor

EagleBridge Capital

33 Broad Street

Boston, MA 02109

Tel: 617-292-7177 Ext.14

www.eaglebridgecapital.com

RealtyTrac Appoints Rob Barber New CEO; Jamie Moyle Chairs Innovation Committee

Jamie Moyle

IRVINE, CA, July 27, 2015 — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today announced it has hired a new CEO for its rapidly expanding data file licensing business to continue building on the company’s double-digit revenue growth cultivated over the last three and a half years.

Rob Barber, former CEO at Environmental Data Resources (EDR), will be the new RealtyTrac CEO. Jamie Moyle will be moving to Chair of the Innovation Committee of the Board of Directors.

Barber will begin August 17 and will supplement the already impressive staff of industry leaders the company has been assembling for its management team.

“We’ve been on a roll this past year,” Moyle said. “We’ve signed 75 Big Data Deals, grew traffic on Homefacts.com by 500 percent, and hired Brian Mushaney, Jon Cohn and Mike Sawtell.

“Rob Barber will make an amazing addition to the team and will build on the success and momentum that RealtyTrac has going into 2016.”

“Three and half years ago this company was collecting data for a single purpose,” he continued “We have successfully leveraged that capability to expand our scope and empower other businesses to achieve their goals. 2016 will be an exciting year of data expansion and product innovation.”

Barber is a veteran of the real estate information services industry.  During his tenure at EDR, he was responsible for doubling the company’s share in the engineering market, expanding successfully into multiple high growth adjacent markets, and innovating new platform solutions that deliver both content and workflow value to the property due diligence industry.  He was also a past board member at BuildFax, Landmark Information Group and the Content Division of the Software and Information Industry Association.

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

Ginny Walker

949.502.8300, ext. 268

ginny.walker@realtytrac.com

HFF closes REO sale of office park and development site in suburban Miami, FL

Lucky Start Executive Plaza, 8765 SW 165th Avenue, West Kendall, FL

Marty Busekrus

MIAMI, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the REO sale of Lucky Start Executive Plaza, a two-building office park totaling 55,658 square feet plus a vacant development site in West Kendall, Florida.

HFF marketed the property on behalf of a regional bank, who had acquired the asset in a foreclosure auction.  IMC Property Management, Inc. purchased the asset for $12.5 million.

Lucky Start Executive Plaza is located at 8765 SW 165th Avenue about four miles south of the Tamiami Trail in the southwestern Miami suburb of West Kendall. 

 The property is within a few blocks of Baptist Health System’s newly-built, 30-acre medical facility as well as the proposed Kendall Town Center, which will include office, multi-housing, hotel, senior housing and community space.

 The property consists of two office buildings that are 54.1 percent leased to medical and professional tenants plus a vacant pad site for the future development of a three-story, 89,000-square-foot office building. 

 The HFF investment sales team representing the seller was led by director Marty Busekrus, associate director Jorge Portela and executive managing director Manny de Zárraga,.

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.imcpropertymanagement.com

HFF closes sale of DoubleTree by Hilton Hotel Raleigh-Durham Airport at Research Triangle Park in North Carolina

DoubleTree by Hilton Hotel Raleigh-Durham Airport at Research Triangle Park

TAMPA, FL  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of the DoubleTree by Hilton Hotel Raleigh-Durham Airport at Research Triangle Park, a 249-room, full-service hotel in North Carolina’s Research Triangle area.

Daniel C. Peek

HFF marketed the property on behalf of the seller, Driftwood Hospitality Management, LLC.  Southwest Value Partners purchased the hotel and has retained Dimension Development Corporation as manager.

Also known as the “Mansion on the Hill,” The DoubleTree by Hilton Hotel Raleigh-Durham Airport at Research Triangle Park underwent renovations in 2013 that improved and modernized all common areas and guest rooms while retaining the asset’s Southern-inspired aesthetic.

 The hotel caters to business and vacation travelers and features a full-service restaurant, lobby bar, outdoor swimming pool, 24-hour business center, state-of-the-art fitness center and 11,500 square feet of flexible meeting space. 

The property is situated on 12.5 acres at 4810 Page Creek Lane in Durham approximately three miles from Research Triangle Park, home to more than 190 Fortune 500 companies, biotech and scientific research firms, and professional services providers. 

KC Patel

Five miles from Raleigh-Durham International Airport, the hotel is off of Interstate 40, 15.3 miles from downtown Raleigh and 10.5 miles from downtown Durham.

The HFF investment sales team representing the seller was led by senior managing director and head of HFF’s hotel group Daniel C. Peek, director KC Patel, associate director Cyrus Vazifdar and senior managing director Ryan Clutter.

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.driftwoodhospitality.com.