RealtyTrac Reports 54 Percent of U.S. Metros on Pace to Reach Eight-Year High in Home Sales in 2015 Based on Sales Through August

  

Mark Hughes

IRVINE, CA --  RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, released its August 2015 U.S. Home Sales Report, which shows single family home and condo sales through August were on pace for an eight-year high nationwide and in 110 out of 204 (54 percent) metropolitan statistical areas with sufficient sales data.

“The continued strength in sales volume across a wide spectrum of markets in August indicates that shockwaves from recent global stock market instability have not weakened the housing recovery and in fact there is evidence that the instability has fueled more demand for U.S. real estate,” said Daren Blomquist, vice president of RealtyTrac.

“We are seeing more globalization as Southern California has become a destination for international buyers,” said Mark Hughes, chief operating officer with First Team Real Estate, covering the Southern California market. “Eighty percent of new construction in Irvine last year was sold to Chinese buyers. International buyers are driving home prices up and sometimes out of reach for many local residents.”

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

Ginny Walker

949.502.8300, ext. 268

ginny.walker@realtytrac.com

john greene Realtor Welcomes Industry Veteran Mike Long

Mike Long

CHICAGO, IL  – Naperville, Illinois-based john greene Realtor, one of the largest private brokerages in Chicago’s western suburbs, announced Mike Long, a real estate professional with more than 17 years of experience and $100 million in career sales, has joined the firm as a broker.

 With Long’s hire, john greene Realtor has grown its agent roster by over 20 percent in the past year.

“Our firm has been specializing in Chicago’s western suburbs for the past four decades, and we’re proud to be a destination for the industry’s top talent,” said Tim Greene, CEO of john greene Realtor. “Mike’s expertise in the same communities in which our firm thrives makes him a perfect complement to our team.”

john greene Realtor was recently named among the prestigious Inc. 5000, which lists the fastest-growing private firms nationally, ranking 11th among the fastest-growing private real estate firms in Chicago.

john greene Realtor has also been consistently voted “Best Real Estate Company” by Naperville Magazine’s “Best of Naperville” for the past five years. “We’re proud of our firm’s growth in recent years, and are well-positioned to further strengthen our reach and impact throughout the Chicago market,” said Greene.

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

Julie Liedtke, jliedtke@taylorjohnson.com, (312) 267-4521

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

Waterton Associates Acquires Taluswood Apartments in North Suburban Seattle, WA

Peter Kuzma

CHICAGO, IL – Waterton Associates LLC, a U.S. real estate investor and operator, announced it has acquired Taluswood Apartments in Mountlake Terrace, Washington.

Located in a wooded neighborhood approximately 15 miles north of downtown Seattle, the garden-style rental community consists of 512 apartments across 24 buildings, with a mix of one-, two- and three-bedroom floor plans.

Taluswood is one of two communities in the Seattle area owned and managed by Waterton. In December 2014, the Chicago-based investor re-entered the market with the acquisition of Martha Lake Apartments, a 155-unit community in north suburban Lynnwood – about seven miles northeast of Taluswood.

“Seattle’s job growth, fueled by the city’s burgeoning tech sector, is generating unprecedented demand for rental housing, with thousands of units under construction in King and Snohomish counties,” said Peter Kuzma, vice president of acquisitions at Waterton Associates.

“Yet despite the supply that’s been added, the vacancy rate has continued to fall, allowing many landlords to push rents and obtain attractive yields.”

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

www.watertonassociates.com.

Heritage Harbor Ottawa Resort to Release Final Five Riverfront Single-Family Home Sites in West Peninsula Neighborhood of Ottawa, IL

Tammy Barry

OTTAWA, IL – Heritage Harbor Ottawa Resort, a marina resort community along the Illinois River in Starved Rock Country, announces it is releasing the final five riverfront single-family home sites in the development’s West Peninsula neighborhood via a site selection lottery on October 2.

Located at 1970 N. 2753rd Road in Ottawa, Illinois, just 90 minutes southwest of Chicago, Heritage Harbor Ottawa is a 142-acre master-planned development of single-family homes, townhomes, vacation cottages, carriage homes and condos, centered on a 32-acre harbor and full-service marina.

“We anticipate tremendous interest for these premium lots, since we already sold out of all of the riverfront single-family sites we originally planned to offer on the West Peninsula,” said Tammy Barry, director of sales and marketing for Heritage Harbor Ottawa.

“But our sales team has seen such strong demand for single-family homes at Heritage Harbor that we decided to re-plat these sites, which were originally earmarked for townhomes and condos, and offer them up to single-family buyers.

“This is a golden opportunity for buyers who thought they missed their chance to build their dream home in a prime riverfront location.” 

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

Sarah Lyons, slyons@taylorjohnson.com, (312) 267-4520

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

Chicago Real Estate Leaders Ready for “Know Before You Owe”

 

Jeanine McShea

CHICAGO (September 23, 2015) – With the implementation of the Consumer Financial Protection Bureau’s “Know Before You Owe” rule less than two weeks away, many real estate professionals are bracing for how the rule will change the home-buying process starting October 3.

 To prepare for these changes, some Chicago providers have been taking creative steps that can serve as a model for the rest of the industry.

  

“Although we’ve known since 2013 that these changes were coming, some industry professionals still have not fully updated their systems,” said Ben Niernberg, executive vice president of business development and operations at Northbrook, Illinois-based Proper Title, LLC, a full-service title insurance agency.

“Integrating the new required fee quotes, generating the new closing disclosure forms, and implementing tracking systems to gauge the new delivery and review periods, is no small undertaking,” he said. “But in addition to spending the past year and a half making sure Proper Title was prepared, we’ve also taken a proactive approach to ensure our clients – and our partners – are prepared to navigate the new process.”

Related Realty, a premier brokerage firm specializing in Chicago’s most in-demand neighborhoods, plans to provide ongoing education for its staff as the new rule is rolled out. “Buying a home is one of the most significant purchases a person will make in their lifetime,” said Jeanine McShea, vice president and managing broker at Related Realty. 

“As advocates for our clients, we need to continually stay well-versed in the process and be able to manage any additional changes that may come.”

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

 Julie Liedtke, jliedtke@taylorjohnson.com, (312) 267-4521

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

Proper Title Joins Chicago’s Leaders at @Gives Back Laugh-Off Fundraiser

  

Ben Niernberg

                                                               CHICAGO (Sept. 24, 2015) – Northbrook, Ill.-based Proper Title, LLC, a full-service title insurance agency serving the residential and commercial real estate industries, announced it joined more than 150 of Chicago’s business and real estate industry leaders at the Uptown Underground on September 14 for the @Gives Back Laugh-Off fundraiser.

 The event, hosted by @Properties and sponsored by Proper Title, raised funds for the Noah’s Arc Foundation, led by Chicago Bull’s center Joakim Noah, as well as Proper Giving, a charitable program created by Proper Title to raise proceeds for Ann & Robert H. Lurie Children’s Hospital of Chicago.

“It’s a privilege to support such an outstanding organization as Noah’s Arc,” said Ben Niernberg, executive vice president of business development and operations at Proper Title, who also serves on the board of @Gives Back.

 “Creating opportunities to help others is exactly why we formed Proper Giving earlier this year, and we’re fortunate to be able to share our success and partner with Joakim and @Properties toward that effort.”

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

 Julie Liedtke, jliedtke@taylorjohnson.com, (312) 267-4521

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

29th Street Capital Acquires Apartments in Northwest Denver Suburb

Village West Apartments, Arvada, CO

Arvada, CO (Sept. 24, 2015) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Village West, a 58-unit multifamily community in the sought-after Denver suburb of Arvada, Colorado. 

29SC was able to source the acquisition off-market, avoiding the competitive bidding processes common in the Denver multifamily transactions market.

29SC plans to invest approximately $1.1 million (or $19,000 per unit) to improve Village West’s exterior, interiors and amenities, bringing the property in line with comparable apartment communities in the submarket.

“Village West is our second recent acquisition in the Denver metro, with others on the horizon as we continue to build our presence in Colorado,” said Todd Jaycox, Senior Vice President of Acquisitions for 29SC.

Stan Beraznik

“Our goal is to dramatically improve the property’s physical condition and offer an updated, yet affordable, rental option in a highly-desirable suburban location. 

"Village West will benefit greatly from strategic improvements designed to modernize the community and increase its appeal.”

 For investment inquiries, contact:

Stan Beraznik, Founder and Managing Principal at 29th Street Capital

415.643.6875 | sberaznik@29thstreetcapital.com

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

 Terri Thornton

Partner, Thornton Communications

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

http://www.facebook.com/pages/Thornton-Communications/112101288827299 http://twitter.com/Ttho http://www.linkedin.com/in/TerriThornton

www.29thstreetcapital.com

HFF arranges $23.6 million financing for 3-building industrial park in Alexandria, VA

Pickett Industrial Park, Alexandria, VA

 

Sue Carras

WASHINGTON, D.C. – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $23.6 million in acquisition financing for a 100-percent-leased, three-building warehouse complex totaling 246,145 square feet within Pickett Industrial Park in Alexandria, Virginia.

Working on behalf of the borrower, an affiliate of JBG Core Venture I, L.P., HFF placed the 10-year, floating-rate loan with SunTrust Bank.  In June, HFF closed the sale of this asset to JBG Core Venture I, L.P., a programmatic joint venture between CBRE Global Investment Partners and The JBG Companies.

Situated on 10.84 acres at 841-929 South Pickett Street inside the Capital Beltway in Alexandria, Virginia, Pickett Industrial Park is less than a mile and a half from Interstate 395.

 The Pentagon, Fort Belvoir and Reagan Washington National Airport are all less than 10 miles away from the property.  The one-story buildings have 24’ clear heights and a total of 34 dock-high loading doors with seven drive-ins. 

The complex is 100 percent leased to six tenants, including General Services Administration, Commercial Carpets of America, Michael Baker Corporation and Habitat for Humanity of Northern Virginia.

The HFF debt placement team representing the borrower was led by Sue Carras, Walter Coker and Brian Crivella.

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.JBG.com

Twitter @TheJBGCompanies and

 Facebook (facebook.com/TheJBGCompanies).

HFF secures $69.5 million in financing for mixed-use medical office and retail building in Seattle, WA

Medical Dental Building 509 Olive Way,
 Downtown Seattle, WA

PORTLAND, OR –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $69.5 million in financing for the Medical Dental Building, a 294,286-square-foot, historic, medical office building with ground floor retail in Seattle, Washington.

HFF worked on behalf of the borrower, Goodman Real Estate, Inc., to secure the 20-year, fixed-rate loan with AXA Equitable Life Insurance Company through its advisor Quadrant Real Estate Advisors. 

Constructed in two phases in 1925 and 1950, the Medical Dental Building was renovated in 2008 and received $25 million in upgrades, including new lobby finishes. 

The 18-story building is 97 percent leased to more than 150 tenants, primarily private medical and dental practices.

  A 12,606-square-foot Bartell Drug Co. pharmacy leases ground floor retail space, and there is a Seattle Executive Fitness located in the building.  

Situated at 509 Olive Way between 5th and 6th Avenues in downtown Seattle, the property is adjacent to Nordstrom, just five blocks west of Interstate 5 and one block from Amazon’s new 4.2 million-square-foot campus expansion.  

The HFF debt placement team representing the borrower was led by managing director Casey Davidson.

“The Medical Dental Building is such a unique asset due to its location and tenant base,” Davidson said.  “Most of the tenants are family-owned medical practices that pass down through generations due to loyal customers who love the building’s location, valet parking and proximity to transportation, including bus and rail lines. Some tenants have been in the building more than 40 years.”

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.goodmanre.com.

HFF arranges $36.19 million financing for 2 select-service hotels in Washington, D.C.

Holiday Inn Express & Suites, Washinton, DC

WASHINGTON, D.C. –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged two loans totaling $36.19 million for the Holiday Inn Express & Suites and Fairfield Inn & Suites, two adjacent, 126-room, select-service hotels in Washington, D.C.

HFF worked on behalf of the borrower, Rocks Engineering Co., to secure the $19.3 million loan for Holiday Inn Express & Suites and the $16.89 million loan for Fairfield inn & Suites with Burke & Herbert Bank.  

The fixed-rate loans each have a term of 10 years.

The Holiday Inn Express & Suites and the Fairfield Inn & Suites are both five-story hotels with a combination of standard rooms and suites.  

Each hotel features a breakfast area, lobby, fitness center, swimming pool, business center and between 600 and 800 square feet of meeting space. 

Mark Remington

The Holiday Inn Express & Suites, 1917 Bladensburg Road, and the Fairfield Inn & Suites, 2305 New York Avenue NE, share 251 parking spaces on approximately 3.6 acres at the intersection of Bladensburg Road NE and New York Avenue NE (U.S. Route 50), which is a direct artery to downtown Washington.

 The New York Avenue-NoMa station on Metro’s red line is two miles from the hotel and accessible via a complimentary hotel shuttle, which also takes guests to the Washington Convention Center and other points of interest in Washington, D.C.

The HFF debt placement team representing the borrower was led by managing director Mark Remington. 

“This was a win-win between borrower and lender,” Remington said.  “The lender was able to keep and increase an existing loan to a long-time and valued client, and the borrower was able to right-size and improve its loan terms to reflect the competitive state of the lending market.”

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

HFF places $23.7 million refinancing with CIBC World Markets for New Jersey office complex

1800 Route 34, Wall Township, NJ

  

FLORHAM PARK, NJ – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $23.7 million refinancing for 1800 Route 34, a 189,836-square-foot, four-building office/flex complex in Wall Township, New Jersey.

HFF worked on behalf of the borrower, The Donato Group, to secure the 10-year, fixed-rate loan through CIBC World Markets. 

Michael Klein

1800 Route 34 is situated less than two miles from both Interstate 195 and the Garden State Parkway at the intersection of Route 34 and W. Hurley Pond Road. 

The complex has above average parking at 950 spaces, which represents five spaces per 1,000 square feet, as well as a 3,400-square-foot restaurant that is open for breakfast, lunch and catering within the complex.

 Constructed between 2001 and 2007, the Class A property is currently 95 percent leased.  Significant tenants include French & Parrello, First Credit Union, The Earle Companies, KMB Design Group, Secova Securities and Eckman Recycling.

The HFF debt placement team representing the borrower was led by director Michael Klein.

“With a concern about interest rates rising in the near future and the desire for maximum proceeds, the borrower elected to prepay a number of loans and take interest rate risk out of the equation for the next 10 years,” stated Klein.

 “CIBC understood this unique Monmouth County submarket as demonstrated by the complex’s strong historical occupancy and recognized the quality of the buildings construction and the borrower’s strong hands on management style to provide aggressive terms that best met the borrower’s needs.”

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

HFF closes $7 million sale of and $4.7 million financing for 20 Carematrix Drive in Dedham, MA

  

 

20 Carematrix Drive, Dedham, MA

 

Lauren O'Neil

 BOSTON, MA –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged acquisition financing for 20 Carematrix Drive, a 39,391-square-foot office building in Dedham, Massachusetts.

HFF marketed the property on behalf of the seller, an affiliate of The Bulfinch Companies, Inc.  HFF also procured the buyer, an affiliate of NorthBridge CRE Advisors, a Boston-based real estate investment and advisory firm founded in 2014 by managing partners Dean Atkins and Greg Lauze. 

Additionally, working on behalf of the new owner, HFF secured the acquisition financing through Country Bank, headquartered in Ware, Massachusetts. 

20 Carematrix Drive is located in Dedham, an in-fill suburban location approximately 12 miles southwest of Boston.  In recent years, Dedham has emerged as a thriving business center that draws on its proximity to Boston, affluent western suburbs, and its regional access made possible by Interstate 93, Route 128/Interstate 95, Interstate 90 (the MassPike), and Route 24.

Coleman Benedict

 Dedham was incorporated as a town in 1636 and has a current population of approximately 25,000 residents.  The estimated median household income for Dedham is $82,193. 

The town is bordered by Needham to the northwest, Westwood to the southwest, Canton to the southeast and Boston to the northeast.  The town comprises a land area of approximately 10 square miles.

The HFF investment sales team representing the seller was led by senior managing director Coleman Benedict and director Ben Sayles.

The HFF debt placement team was led by director Lauren O’Neil.

“Bulfinch takes extremely great care of their assets and 20 Carematrix is no exception,” said Atkins.

“We are delighted to acquire an asset, which stands the test of time and is able to appeal to those tenants seeking a true live/work/play environment," added Lauze.

“The MBTA’s Dedham Corporate Center Station is a two-minute walk from the front door of 20 Carematrix Drive, making downtown Boston accessible in less than 30 minutes,” said Sayles. 

“Just beyond the train station is Legacy Place, a best-in-class, 675,000-square-foot, lifestyle retail center anchored by Whole Foods and featuring a tenant lineup including Apple, Brooks Brothers, City Sports, Williams Sonoma and dining and entertainment options including Showcase Cinema de Lux, King’s, Legal Sea Foods, P.F. Chang’s, and Yard House.”

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

Crossman & Co. welcomes Phillip Shumny to the Atlanta office

Phillip Shummy

Atlanta, GA – Crossman & Company welcomes Phillip Shumny as a Senior Associate - Investment Sales.

Phillip joins Crossman & Company with 26 years commercial real estate experience throughout Georgia and the greater Atlanta area. He most recently worked at Marcus & Millichap, where he specialized in investment-grade retail and office properties. He was also a part the National Retail Group.

Phillip graduated from Georgia State University where he received his Masters of Science in Real Estate.

“Phillip is an outstanding addition to our Atlanta team. As we continue growing our Investment Sales team throughout the Southeast, experienced agents like Phillip will allow us to provide exceptional service to our valued clients” said Crossman & Company President John Crossman, CRX, CCIM.

“Phillip has an excellent track record in Atlanta and truly knows the dynamics of this market. He exemplifies the values of the Crossman & Company brand and we are excited to welcome him to the team.” said Crossman & Company Chief Operating Officer John Zielinski, CCIM.

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

Sydnie Cobb

Crossman & Company

 scobb@crossmanco.com

 407.581.6261

Colombian Developer Announces First South Florida Project -- Bijou Bay Harbor, a Luxury Condominium in Bay Harbor Islands, FL

BAY HARBOR ISLANDS, FL -- Respected Colombian mega-developer Juan Carlos Gonzalez is making his first foray into the South Florida condominium market with Bijou Bay Harbor, a luxury condominium planned for Bay Harbor Islands.

Ability by Acierto, Gonzalez’s U.S. development company, plans to begin pre-sales this season and break ground in early 2016. The company has partnered with Conexo Inmobiliario founded by Andres Arias Gutierrez, who will serve as the president of new developments for Ability by Acierto.

Bay Harbor Islands has undergone such a transformation during the last couple of years and is a goldmine for new development,” said Robert Morales, the vice president of operations for Ability by Acierto.

 “This location brings the best that Bay Harbor Islands has to offer – a prime location in the middle of one of South Florida’s most in-demand communities and just a walk from the famous Bal Harbour beaches."

Ability by Acierto acquired the prime parcel in February 2015 for $8.5 million. The planned seven-story building will offer laid back luxury to young professionals and buyers from Latin America, the Caribbean and Europe with 41 private residences including five penthouses.

 Private residences range from 900 to just over 2,000 square feet. Working with architects Luis Revuelta and Charles H. Benson and designer Adriana Hoyos, the 2,000-square-foot on-site sales center will open this fall. Prices will begin in the $500,000s and rise to $1.9 million for the spacious penthouses.

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

 Ashley Fierman

Publicist

BoardroomPR

afierman@boardroompr.com

Office: 954.370.8999

Cell: 954.330.1554

www.bijoubayharbor.com

MCA Realty Acquires Two Prime Multi-Tenant Industrial Assets for $36.8 Million in the Inland Empire, CA

Tyler Mattox

Inland Empire, CA – MCA Realty, a full service real estate investment and management company, has acquired two multi-tenant industrial assets totaling more than half a million square feet in the Inland Empire for a combined total of $36.8 million.

“The industrial market in the Inland Empire is performing tremendously well, with extremely low vacancy rates driving up both demand and rental rates for properties throughout the area,” says Tyler Mattox, a Principal at MCA Realty.

“This makes the timing of these acquisitions extremely favorable.  We intend to exploit the potential in these assets, and expect them to deliver long-term, stabilized cash flow.”

The property is located at 1600-2060 Chicago Avenue and 1614-1616 Marlborough Avenue in Riverside, California.

Gary Stache, Anthony DeLorenzo, Michael Kendall, and Darla Longo of CBRE assisted MCA Realty in this transaction. Amos Smith of Walker & Dunlop arranged the acquisition financing for MCA Realty with MidCap Financial.

MCA Realty also acquired a 91,326 square-foot, two-tenant industrial building in Temecula, California for a total of $68.87 per square-foot. The building is located at 43350 Business Park Drive in Temecula, California.

Darla Longo

Scott Stewart of CBRE and Gordon Mize of Lee & Associates assisted MCA Realty in this transaction. Steve Hollister of NorthMarq arranged acquisition financing for MCA Realty with Copper Point Mutual Insurance Company.

MCA Realty's principals, Tyler Mattox, Jared Gordon, and Peter Cheng, have successfully navigated a full spectrum of market conditions, and pride themselves on building and maintaining strong relationships with industry partners. More information is available at www.mca-realty.com.

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

       

Lexi Astfalk

Account Executive

Brower, Miller & Cole

895 Dove Street, Third Floor

Newport Beach, CA 92660

p: (949) 955-7940

lastfalk@browermillercole.com