Friday, September 18, 2015

Charles Dunn Co. Completes $4 Million Sale of Vacant 17,131-SF Office Property in Los Angeles to Medical Office User


John C. Anthony


 LOS ANGELES, CA – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $4 million sale of a vacant, two-building, 17,131-square-foot office property near the Downtown Los Angeles and Hollywood markets.

John Anthony, Chris Steck, and Chris Giordano of Charles Dunn Company represented the seller, 1616 Beverly Boulevard, LLC. The buyer, Thomas Leslie Cantor, was represented by Regional Realty & Investment.

Located at 1616 Beverly Blvd. and 118 Union Place near the 110 and 101 freeways, the property is situated on nearly one-half acre of land and includes a surface parking lot providing direct access to both buildings.

“The San Diego-based buyer plans to use the property for medical office use,” said Anthony. “Owner/user sales on the Beverly Blvd. corridor are strong as it is a major thoroughfare connecting to Downtown, Silverlake, and Hollywood.

“As rental rates rise and vacancy tightens, many Los Angeles-area businesses are looking to buy property for long-term stability of office space expenses.”

Anthony added that the buyer paid all-cash and escrow closed in just seven days.

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

Darcie Giacchetto
949.278.6224



BankUnited Names New Commercial Real Estate Executive


Patricia Lubian
MIAMI LAKES, FL --  Patricia Lubian, an industry veteran with more than 25 years of experience, has joined BankUnited as a commercial real estate relationship manager.

Lubian’s responsibilities will include development and management of commercial real estate relationships, primarily in Miami-Dade County.

Most recently Lubian served as senior vice president of commercial real estate for Regions Bank in Miami.  

Additional expertise in the field includes having held senior positions in commercial and commercial real estate lending with Northern Trust of Florida and Barnett Bank of South Florida.

Lubian is a member of the Latin Builders Association as well as a past board member of the Builders Association of South Florida.

A Kendall resident, Lubian graduated from Barry University with a bachelor’s degree in economics and management.

Lubian will be based in BankUnited’s Miami Lakes headquarters at 14817 Northwest Oak Lane. 


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

Mary Harris,
(305) 817-8117                                           

Savannah Whaley,
(954) 776-1999, ext. 225

(877) 779-2265
Facebook at facebook.com/BankUnited.official and on Twitter @BankUnited

Essex Realty Group Brokers Sale of Two Multi-Family Buildings in Chicago, IL

  
Kate Varde
CHICAGO, IL - Essex Realty Group, Inc. is pleased to announce the sale of 1261-1301 W. Argyle and 1338-1354 W. Argyle.

1261-1301 W. Argyle St. and 1338 - 1354 W. Argyle St. (Argyle Street Properties) are located in Chicago’s Uptown Neighborhood.

 The Properties consist of 60 studios, 96 one-bedrooms, one two-bedroom/two-bath, and one three-bedroom one and one-half bath units. The Properties have been professionally managed and stabilized with significant attention given to correcting inherited deferred maintenance issues.

 Evidencing this is the fact the buildings have operated at or above 95% occupancy for the past five months.

1261-1301 W. Argyle sold for $6,545,000 and 1338-1354 W. Argyle sold for $10,580,000.

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

MG Properties Group Sets Record in Reno; Acquires Two Properties Totaling 722 Units

  
 
Mark Gleiberman
San Diego, CA (Sept. 18, 2015) – MG Properties Group, a private San Diego-based real estate investor and operator, has announced the acquisition of two multifamily properties encompassing 722 units in the largest multi-housing bulk transaction in the history of Reno, Nevada.

MG Properties acquired the Vizcaya Hilltop Apartments and the Village at Iron Blossom Apartments in Reno, Nevada, bringing its regional portfolio to over 1,100 units. 

Vizcaya Hilltop Apartments is a 318-unit property built in 1991, and the Village at Iron Blossom Apartments consists of 404 apartment homes built in 1984. Both locations provide convenient access to freeways, employment centers, retail, and nearby entertainment options.

 Each property includes a mix of 1, 2, and 3 bedroom units, providing a variety of options for residents, and the properties feature extensive common area amenities.  MG Properties plans to renovate both properties, upgrading unit interiors, common area amenities, and addressing deferred maintenance items.  

The total purchase price for the two properties was $68.1 million. The brokers for the transaction were Newmark Grubb Knight Frank, Mission Capital, and Auction.com.  Financing was arranged by Brooks Benjamin at KeyBank National Association. 

According to Mark Gleiberman, MG Properties Group’s chief executive officer, “The potential to create value through renovations and upgrades to these properties makes them an excellent fit for our fully integrated investment and management platform.  These assets will bring added value to our existing portfolio.”

MG Properties Group has purchased eight properties in the past year, totaling approximately 2,600 units and $370,000,000 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:

Jenn Quader or Lexi Astfalk
 (949) 955-7940

Thursday, September 17, 2015

Lincoln Property Company Southeast Brokers $1.3 Million Office Building Sale in Northwest Atlanta


 
Jeff Henson
 ATLANTA, GA (Sept. 17, 2015) – Lincoln Property Company Southeast (Lincoln) has executed the $1.3 million sale of 2700 Delk Road, a 25,000-square-foot office building in Marietta, Georgia.

 Jeff Henson of Lincoln represented the seller, ECI Capital, Inc., in the transaction. The building was purchased by Aero Systems Engineering, a local engineering firm that was already based in Marietta that plans on occupying 40 percent of the building and leasing out the remainder.

“With the Atlanta office market thriving once again and rental rates continuing to rise, you are now seeing users that have historically leased space now considering buying their own building,” said Henson. 


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

Savannah Duncan
The Wilbert Group
404-343-0870

Lincoln Property Company Southeast Brokers $15.7 Million Sale of Regional Power Center in Metro Atlanta Suburb



Chip Sipple
ATLANTA, GA  – Lincoln Property Company Southeast (Lincoln) and SRS Real Estate Partners have arranged the $15.7 million sale of Venture Pointe, a 335,151-square-foot power center located in Duluth, Georgia.

Tony Bartlett and Chip Sipple of Lincoln and Kyle Stonis and Pierce Mayson of SRS represented the seller, Wells Fargo Bank, N.A., in the transaction, which took place through Auction.com. Angkawijana LLC purchased the property, which is anchored by Kohl’s, Big Lots and Golfsmith.

“Venture Pointe garnered significant interest from the investment community because of its strategic location and significant value-add potential,” said Bartlett, senior vice president at Lincoln who oversees the firm’s Atlanta office. 

Located at 3960 Venture Blvd. in Duluth, the property benefits from its location at the Steve Reynolds Boulevard exit for I-85. Venture Pointe is strategically positioned within a significant retail corridor, located adjacent to PGA Superstore and Dave & Buster’s.

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

Savannah Duncan
The Wilbert Group
404-343-0870

ARC – Retail Centers of America and Lincoln Buy 512,871-SF Multi-Tenant Retail Development in Hoover, A for $83.5 million


 
Tony Bartlett
 ATLANTA, GA  – American Realty Capital - Retail Centers of America I & II, a publicly registered, non-traded REIT, with Lincoln Property Company Southeast (Lincoln), has acquired the 512,871-square-foot Patton Creek, a multi-tenant retail development located in Hoover, Alabama.

 Patton Creek Holdings, LLC, sold the property for $83.5 million.

Patton Creek includes 65.7 acres of open-air retail, featuring a vibrant mix of entertainment, dining and shop tenants. Dick’s Sporting Goods, Rave Motion Pictures, Ross Dress for Less, Cost Plus World Market, DSW, Barnes & Noble, buybuyBABY and Christmas Tree Shops anchor the center. 

The property was approximately 95 percent leased at the time of the sale.

American Realty Capital – Retail Centers of America I & II seeks to acquire existing anchored, stabilized, retail properties, including power centers, lifestyle centers, grocery-anchored shopping centers and other need-based shopping centers located in the United States. The REIT currently owns more than 25 properties across the country.

“The property’s enviable location and superior access to I-65 and I-459 establishes it as one of the most convenient shopping centers in Alabama,” said Tony Bartlett, senior vice president of Lincoln. “Well-tenanted centers in good locations in secondary and tertiary markets are providing strong returns for investors, and buyers have to be aggressive to secure these opportunities.”  

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

Savannah Duncan
The Wilbert Group
404-343-0870

Wednesday, September 16, 2015

Cooper Carry Names Five New Principals



Andrea Schaub
ATLANTA, GA (Sept. 15, 2015) – The internationally recognized design firm, Cooper Carry, recently named five new principals to further broaden the reach of its hospitality, interiors, K-12 education and corporate specialty practice groups.

The appointments demonstrate the company’s continued growth and the success of its senior leaders.

Manny Dominguez and Andrea Schaub were named principals in the hospitality specialty practice group, which is recognized as one of the top five hospitality practices in the nation.

The 1,175-key Marriott Marquis in Washington, D.C., the Douala Hilton in Cameroon, the Arlington Capital View Hotel, the Hilton Cleveland Convention Center Hotel slated to open in 2016 and The Sanctuary at Kiawah Island are just a few of Cooper Carry’s many projects around the world.

Dominguez has worked on projects such as the Sea Pines Resort’s Plantation Golf Club, which was recently named Clubhouse of the Year by Golf Inc. Magazine. 

Schaub, who has been with Cooper Carry since 2005, is known for her work on the Capitol Point Hyatt Place in Washington, D.C. and The Main Hotel and Conference Center in Norfolk, Virginia.


Kim Rousseau
Kim Rousseau, director of interior design, was named principal and currently leads the interior design of Park Center, where State Farm will be a lead tenant, promoting the most current workplace strategies in its design as a response to the influence Millennials are having on today’s office buildings.

In the K-12 education specialty practice group, Bob Just was named principal. In the recent past, Just has worked on several headliner projects including the 11-story North Atlanta High School, which garnered national attention for its adaptive reuse design of a 1970’s era corporate office building.

Bill Halter, director of corporate services, joined Cooper Carry in 2010 and has been named principal of the corporate specialty practice group.

Halter has led innovative office design efforts for projects such as Intergraph’s Huntsville-based corporate campus, where the workplace strategy led the client to boldly eliminate all private offices in exchange for a more collaborative, open concept plan.

Bill is currently leading the design team for Park Center with direct street and lobby access to an expanded Dunwoody, Georgia MARTA station.


Manny Dominguez
“We’re proud to recognize the hard work and accomplishments of these talented designers,” said Kevin Cantley, president and CEO of Cooper Carry.

“Their work will continue to shape the future of the built landscape and serve as a model for timeless design. These additions to our senior leadership team will help to ensure that the firm is solidly grounded for years to come.”

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

Hadley Creekmuir
The Wilbert Group
 404.343.4080

Bob Just
                                                                                     
Bill Halter
          


Arbor Funds $101M in Multifamily Deals Across South and Other Regions


Alex Kaushansky
UNIONDALE, NY (Sept. 15, 2015) - Arbor Commercial Mortgage, LLC (“Arbor”), a national, direct commercial real estate lender, announced the recent funding of 21 loans totaling $100,946,800 across Alabama, Texas, North Carolina, Florida, Georgia, South Carolina, Michigan and New York under the Fannie Mae Delegated Underwriting & Servicing (DUS®) Loan, Fannie Mae DUS Multifamily Affordable Housing, Fannie Mae DUS Small Loan, Fannie Mae DUS ARM, Fannie Mae DUS Student Housing Loan, Freddie Mac Loan, Freddie Mac Small Balance Loan and Arbor Realty Trust's Bridge programs.

Alex Kaushansky, Vice President in Arbor’s New York City office, originated all of the loans.

“Arbor has the nationwide expertise that’s required to meet borrower demands no matter where they do business, including the thriving multifamily markets found across the South,” Kaushansky said.

 “As demonstrated by this collection of loans, Arbor is providing investors the personal service and customized loan products they need to take advantage of today’s strong multifamily market conditions.”

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

Christopher Ostrowski

Tuesday, September 15, 2015

Hotel Marketing Veteran Lovell Casiero Forms Revenue Enhancement Advisory Firm


Lovell Casiero
  New Freedom, PA , Sept. 15, 2015—Hotel sales and marketing veteran Lovell Casiero today announced the formation of FLC Business Consulting, Inc. (FLC), which will focus on hotel revenue enhancement.

The company will provide strategic and senior-level hotel sales and marketing expertise to hotel owners, REITS, private investment firms and management companies.

                “Typically, only the very largest hotel owners, investors, management companies and asset management firms have the cost structure and scale to have an on-staff, C-level executive to provide the strategic input for revenue enhancement and these organizations often seek an outside expert’s fresh perspective,” Casiero, FLC president, said.

“Most mid-size and smaller firms require that expertise only at particular times during the hotel ownership cycle. 

"There are numerous firms involved in revenue management, or putting ‘heads in beds,’ but less than a handful that specialize in ‘all’ things revenue related—the sales and marketing strategy, positioning, market analysis and planning required to capture and maximize the right mix of business. 

“Our firm is structured to supply the critical analysis, planning and experience required either on a short-term or retainer basis.”

                FLC will provide a full array of revenue analysis services, including due diligence for acquisition, troubleshooting, positioning, oversight of brand conversion, business plan preparation, market analysis, sales and marketing staff evaluation, sales training and other critical services related to improving hotel profitability by driving the top line. 

 In addition, the firm has a network of experienced suppliers, ranging from website design to revenue management programs, branding, and public relations.  FLC has in-depth relations with all the premier brand families including Hilton, Starwood, Marriott, IHG and Choice.

Casiero’s 25-plus years of hospitality sales and marketing background includes oversight of all aspects of revenue enhancement, direct sales, marketing, PR, revenue management, digital marketing and global sales.   She previously was executive vice president of sales & marketing for Crescent Hotels & Resorts.   

Casiero also held senior level sales and marketing positions with Interstate Hotels & Resorts and HEI Hotels & Resorts.  

Prior to entering the hotel industry, she was president of the Christian Correspondence Church and was founder of Caribbean Missions, a philanthropic organization providing aid to Haiti, Jamaica and other Caribbean Islands.

                Casiero is a member of the advisory boards of Starwood Hotels & Resorts Sales & Marketing and HSMAI Sales & Marketing.  She is a former member of the Interstate Hotels & Resorts Food & Beverage Board, the Hellenic Center Board, the Benice Agency, and the Lovejoy Agency.

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

Chris Daly                                                                            
Daly Gray, Inc.                                                                  
(703) 435-6293                                                                  
              

703-722-8126

Cottage Living Midwest Style in Chicago Area



Somerset Townhomes, Lake Zurich, IL

CHICAGO (Sept. 15, 2015) — From charming front porches to enchanting surroundings, there is so much to love about cottage-style homes. And, whether looking for a single-family home, townhome or vacation home, here are three different ways Chicagoans can experience the quaint and cozy attributes of cottage-style living year-round.

A Refreshing Alternative To Sprawling Subdivisions

When KZF Development looked to create Timber’s Edge, a low-maintenance community of 21 single-family homes at 3895 Dundee Road,  in Northbrook, Illinois, the developer wanted to make sure the community provided a refreshing alternative to the typical sprawling subdivisions found in the popular Chicago suburb.

 Once completed, Timber’s Edge will reflect a coastal-style design that is pedestrian friendly with front porches, paved walkways and a centrally located 10,000-square-foot community green with benches, pergolas and a fountain.

“We wanted to develop something unique to the area, something that resembled Michigan lakeside communities with home designs that foster a more intimate and neighborly atmosphere,” said Steve Friedman of KZF Development. “Timber’s Edge is designed as an interactive neighborhood where walkways and landscaped seating areas connect homes and residents.”


Peter Brennan
 Beachside Living In The Midwest

 For those who dream of living in a cottage-style home within walking distance to town and a beach, Somerset Townhomes in Lake Zurich, Illinois, offers the best of both worlds.

Located on West Main Street between Lakeview Place and Old Rand Road, Somerset provides a maintenance-free, lakeside lifestyle within walking distance to Breezewald Park Beach, which includes a playground and beach access, and is just steps from numerous restaurants and shops in downtown Lake Zurich.

 “All homes include quaint front porches centered on a courtyard complete with mature landscaping, a small pond, waterfall and seating area providing a coastal charm,” said Peter Brennan, president of Foxford Communities.

“Even better, most homes include views of the sparkling blue waters of Lake Zurich. You can’t beat the fact that Somerset offers affordable lakeside cottage living in a convenient walkable location.”

For more information on Somerset, contact Jeff Ohm at 847-821-9090 or johm@prg123.com.


Tammy Barry


A Vacation Home With A Modern Take On Cottage Design

Cottage-style homes also have special appeal to those in the market for a vacation residence according to Tammy Barry, director of sales and marketing for Heritage Harbor Ottawa Resort, a marina resort community along the Illinois River in Starved Rock Country.

 “Buyers purchasing a second home typically want something that’s low-maintenance and ‘just right’ in terms of space, so the smaller footprint and efficient layout of a cottage is perfect for them,” said Barry.

 “Our homes at Heritage Harbor are very much a modern take on cottage design, and we dedicate the most space to the features we know are most important to vacation home owners – namely, open living space where friends and family can gather, and large bedrooms that can easily accommodate guests.”

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

Kim Manning at kmanning@taylorjohnson.com, 312.267.4527.
Kelly Shumaker, kshumaker@taylorjohnson.com, (312) 267-4519



SVN | Chicago Commercial Brokers 27,000-Square-Foot Lease in Suburban Hoffman Estates for Northwest Health Care Associates


 
Albert M. LIndeman
CHICAGO, IL (Sept. 15,  2015) - SVN | Chicago Commercial announced the signing of a 27,000-square-foot long-term lease at 2359 Hassell Road in Northwest suburban Hoffman Estates, Illinois, for Northwest Health Care Associates, a suburban Chicago-based multispecialty practice with 30 physicians.

Albert M. Lindeman, senior vice president of SVN | Chicago Commercial, represented the building’s owner, Chicago-based Caruso Development.

Northwest Health Care Associates, which has practiced for more than 35 years from the campus of nearby St. Alexius Medical Center, will occupy a one-story, new-construction medical office building in Blackberry Falls Office Campus, a new campus adjacent to Barrington Town Center. Construction on the new office building began last week.

“This well-located, build-to-suit development offered potential tenants a perfect opportunity to benefit from high-quality, energy efficient new construction; flexible, customizable design; and unmatched access retails amenities and major area expressways and thoroughfares,” said Lindeman.

 “The new location also will allow Northwest Health Care Associates to expand its footprint to accommodate future growth and do so in a cost effective manner.”

Blackberry Falls Office Campus is situated on a 4.64-acre campus, complete with a gazebo, waterfall and pond. The 27,000 square foot medical office building is the last building to be built at the office campus.

Terri Kraft
“We’ve enjoyed significant growth over the years, not only in patient volumes, but also in the number of physicians and staff we employ. As we look ahead, the growth projection continues and we need a space that can accommodate that,” said Terri Kraft, executive director of Northwest Health Care Associates.

“It was of the utmost importance that, with this move, we give our patients the same or better access to their health care providers, and a single story office with front door parking, which is particularly important for our elderly patients.

“Moving off the St. Alexius campus gives us the opportunity to keep our total costs similar to current levels, while creating a custom-designed space that accommodates the needs of our physicians and patients, all within close proximity to the hospital,” Kraft added.

Located at the intersection of Interstate 90 and Barrington Road, approximately 30 miles from downtown Chicago, the new office campus is easily accessible from major area thoroughfares and offers patients convenient access to the practice.


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

Cara Mooses at cmooses@taylorjohnson.com, 312.267.4523
Kim Manning at kmanning@taylorjohnson.com, 312.267.4527.


www.svnchicago.com, 312.676.1866

Monday, September 14, 2015

Meta Housing Corp. Completes $20.3 Million Transit-Oriented Development in Compton, CA


Metro@Compton Senior Apartments, 302 North Tamarind Avenue, Compton, CA

Kasey Burke
COMPTON, CA (Sept. 14, 2015) – Meta Housing Corporation has announced the completion of Metro @ Compton Senior Apartments, a $20.3 million, transit-oriented, 75-unit affordable housing development available to seniors aged 55+ in Compton, California.

“There continues to be a tremendous need for affordable housing developments in close proximity to public transportation, especially in urban areas,” says Kasey Burke, President of Meta Housing Corporation.

“The Metro @ Compton development transformed a blighted, underutilized vacant lot into 75 high-quality affordable apartment units within walking distance to Compton’s Metro Blue Line light rail and bus station.”

The Metro @ Compton Senior Apartment community was developed by Meta Housing in partnership with Western Community Housing. The community was designed by Y&M Architects, constructed by Optimus Construction Inc. under the supervision of construction manager KKG, Inc.  The property is managed by WSH Management.

Located at 302 N. Tamarind Avenue in the City of Compton, the apartment community is comprised of one- and two-bedroom floor plans.

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

Lexi Astfalk/Jenn Quader
Brower, Miller & Cole
(949) 955-7940



Sale of Galleria Place in Houston, TX closed by HFF


Galleria Place, 5251 and 5333 Westheimer, Houston, TX

 
Dan Miller
 HOUSTON, TX – Sept. 14, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Galleria Place, two Class A office buildings totaling 401,000 square feet plus a stand-alone retail site across from the Galleria Mall in Houston, Texas.

HFF marketed the property on behalf of the seller, The Carlyle Group and Songy Highroads LLC.  Lincoln Property Company purchased the asset for an undisclosed amount.  HFF is also engaged to arrange financing for the buyer. 

Galleria Place consists of Galleria Place I (5251 Westheimer), an 11-story, 217,006-square-foot office building; Galleria Place II (5333 Westheimer), a 10-story, 178,468-square-foot office building; Sage Plaza, a 5,797-square-foot retail building fully leased to a local high-end salon and tailor; Regions Bank, a single-story bank branch and drive-thru connected to Galleria Place I and included in its square footage; and two parking garages with 1,361 spaces.

  Galleria Place is 53 percent leased to tenants including Just Energy and HIS.  The properties occupy six acres bounded by Sage and Westheimer Roads and West Alabama Street directly across from the Houston Galleria, Houston’s premier destination for shopping and dining. 

The HFF investment sales team was led by senior managing director Dan Miller and director Martin Hogan.

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


Taylor Johnson Now Represents the Chicago/Midwest Office of KTGY Architecture + Planning


Emily Johnson
CHICAGO, IL – Taylor Johnson President Emily Johnson announced Taylor Johnson now represents the Chicago/Midwest office of California-based KTGY Architecture + Planning, a national award-winning firm providing comprehensive planning and architectural design services for residential communities, retail, commercial, healthcare, civic, hospitality, mixed-use and related specialty developments.

 KTGY’s new Chicago studio was established through its merger with Glen Ellyn-based PPK Architects, a premier architectural firm with a 65-year history in designing commercial and residential projects throughout Chicago and the Midwest.

The Chicago office will be headed by former PPK leadership and veteran designers, Craig R. Pryde, AIA, LEED AP, and David M. Kennedy, AIA, LEED AP, who will both serve as principals at KTGY.

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

Julie Liedtke
Taylor Johnson
(312) 267-4521