Multi Housing Advisors Brokers $13.8 Million Sale of Apartment Community in Macon, GA

  

Forest Pointe Apartments, Macon, GA

 

Robert Stickel

ATLANTA, GA (Nov. 24, 2015) — Multi Housing Advisors (MHA) has arranged the $13.8 million sale of Forest Pointe, a 200-unit apartment community located in Macon, Georgia.

Robert Stickel, who leads MHA’s central to coastal Georgia deal team, represented the seller, QR Capital, in the transaction. LMS Real Estate Investment Management purchased the property.

“Forest Pointe is an exceptionally located asset providing residents convenient access to major job centers and quality retail, while also offering a private residential setting,” Stickel said. 

“With recent upgrades to the exteriors and amenities, Forest Pointe provides the opportunity to focus new capital on interior upgrades, resulting in increases in both rental rates and investment returns.”

Forest Pointe is a cash flowing asset with recent capital improvements, including new exterior paint, new stacked stone grill and fireplace area by the pool, and dark stained cabinets.

The property is located in the premier North Macon submarket with true “country club” demographics and an average household income of over $74,000 within a one-mile radius of Forest Pointe.

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

Deborah Rogers

Multi Housing Advisors

404.645.7275

drogers@usmha.com

American Realty Advisors Sells Office Center in South Florida

Yamato Office Center, Fort Lauderdale, FL

Boca Raton, FL, Nov. 24, 2015 – American Realty Advisors announced the sale of the Yamato Office Center, a 170,930 square-foot office property in the South Florida metro area. 

David Hubbs

According to David Hubbs, Senior Portfolio Manager at American, the disposition has been timed to take advantage of strong investor interest in the region.

“The property’s great location and tenant profile, along with the growing strength of the office market in the region, made this an opportune time to sell the property,” says Hubbs.

Constructed in 1986 and 2000, Yamato Office Center is located less than one mile west of the I- 95/Yamato Road interchange, and less than 30 miles from both Fort Lauderdale and Palm Beach International Airports. 

The property is comprised of two office buildings totaling 170,930 square feet, with a tenant mix that includes Promise Healthcare, MoreDirect, and Homes Media E-Neighborhoods.

The buyer, Adler Kawa (AKREA) is a Florida-based real estate investment firm that was represented by Charles J. Foschini, Vice Chairman, and Christopher A. Apone, First Vice President, in CBRE’s Miami office.  American was represented by Christian Lee, Vice Chairman of CBRE Miami.

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

www.americanreal.com

HFF closes $8.9 million sale of and arranges $5.6 million financing for 45-unit multi-housing community in suburban San Diego, CA

The Ridge on Jackson Apartments, 5639 Jackson Drive, La Mesa, CA

                                                                                                                     (photographer: Charles Jaworski).

  

Hunter Combs

SAN DIEGO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged financing for The Ridge on Jackson, a 45-unit, garden-style multi-housing community in the San Diego suburb of La Mesa, California.

HFF marketed the property exclusively on behalf of Curtis Capital Group.  Stricker Family Partnership purchased the asset for $8.9 million free and clear of existing debt.  Additionally,

HFF worked on behalf of the new owner to place the $5.6 million, seven-year, fixed-rate acquisition loan with Chase Commercial Term Lending (“Chase”).

Located at 5639 Jackson Drive, The Ridge on Jackson is approximately 13 miles east of downtown San Diego and provides convenient access to Interstates 8 and 15 and State Routes 94, 125 and 163. 

Situated on 1.5 acres, the 98-percent-leased property was partially renovated in 2014 and has six buildings housing studio, one- and two-bedroom units averaging 660 square feet each.  

The community is walking distance to Lake Murray and nearby shopping/dining attractions and has amenities including a swimming pool, two sundecks with barbecue grills and covered parking.

Zach Koucos

The HFF investment sales team was led by director Hunter Combs.

HFF’s debt placement team was led by director Zach Koucos.  Client manager Scott Schweer oversaw the transaction for Chase.

“The Ridge on Jackson presented the unique opportunity to continue a proven value-add renovation program and realize significant rent premiums.  There was a very competitive bidding process with a deep buyer pool seeking Southern California value-add opportunities in a low-vacancy market,” said Combs.

  “Strong economic drivers in East San Diego County have created a tremendous demand for housing in La Mesa.”

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 closes sale of Metropolitan at Lorton Station in Lorton, VA

Metropolitan at Lorton Station Apartments, 9030 Lorton Station Boulevard, Lorton, VA

                                                                                                                                     (Waring Photography).

Walter Coker

WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Metropolitan at Lorton Station, a 251-unit, Class A apartment community in Lorton, Virginia.

HFF marketed the asset exclusively for Cornerstone Real Estate Advisers, acting on behalf of an institutional investor.

Metropolitan at Lorton Station is located at 9030 Lorton Station Boulevard directly adjacent to Lorton Station Town Center and the Lorton Virginia Railway Express station, which provides direct access to Washington, D.C.’s Union Station.

 The property is approximately five miles from the Fort Belvoir army base and is near Interstate 95 and Highway 1.  

Originally developed as condominiums in 2007, the community has 251 one- and two-bedroom rental units averaging 962 square feet each with features including stainless steel appliances, granite countertops, hardwood floors, soaking tubs, walk-in closets and full-size, in-unit washers and dryers. 

Additional amenities include an outdoor swimming pool, sports club, resident lounge, coffee bar, billiards room, business center and conference space.

The HFF investment sales team was led by Walter Coker and Brian Crivella.

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

www.cornerstoneadvisers.com.

HFF secures $28.17 million construction financing for development of Embassy Suites hotel in Amarillo, TX

Rendering of planned Embassy Suites hotel, Amarillo, TX

Travis Andeerson

DALLAS, TX – Nov. 23, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $28.17 million in construction financing to develop the 225-room, full-service Embassy Suites hotel to anchor the Civic Center redevelopment in Amarillo, Texas.   

HFF worked on behalf of the developer, NewcrestImage, to secure the financing through Southwest Bank, the largest locally-owned bank in Fort Worth, Texas.

Located at the intersection of 6th Avenue and Buchanan Street, the 200,000-square-foot Embassy Suites hotel will be part of the planned improvements in downtown Amarillo that surrounds Amarillo’s Civic Center, a multi-purpose convention center that will also include retail, a parking garage and an entertainment venue/ballpark.

 Amarillo is the 14th largest city in Texas and the largest city in the Texas Panhandle.  The all-suite, Hilton-branded hotel will feature 30,000 square feet of meeting and function space, 300 parking spots in an adjacent garage for the exclusive use of the hotel, lounge and lobby bar, pool, fitness center and full-service restaurant for breakfast, lunch and dinner.  The hotel is expected to be complete in 2017.

The HFF debt placement team representing the borrower was led by senior managing director Travis Anderson and director Jim Curtin.

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.newcrestimage.com.

HFF secures $38.87 million acquisition financing for SeaTac Office Center in Seattle, WA

SeaTac Office Center, 17900, 17930 and 18000 Pacific Highway South,
15 miles south of Seattle in SeaTac, WA 

Bruce Ganong

PORTLAND, OR – Nov. 23, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $38.87 million in acquisition financing for SeaTac Office Center, a 538,979-square-foot office complex immediately adjacent to SeaTac International Airport in the Seattle, Washington area. 

Working on behalf of a joint venture between Urban Renaissance Group and Iron Point Partners, HFF placed the floating-rate bridge loan with Bank of America.  Additionally, HFF was involved in the $47.1 million sale of the property, representing the seller, ScanlanKemperBard Companies.

SeaTac Office Center is a three-building, high-rise office campus that is 63 percent leased to multiple tenants including national credit tenants and governmental agencies. 

The property features a fitness facility with showers and lockers, and a full-service deli and restaurant as well as views of Mount Rainier and the Olympic Mountains.  The buildings are located at 17900, 17930 and 18000 Pacific Highway South, 15 miles south of Seattle in SeaTac. 

The transit-oriented location provides tenants access to the adjacent Link Light Rail, Metro Bus Rapid Transit and nearby vehicular arteries including Interstate 5 and Highway 99.  

HFF’s debt placement team representing the borrower was led by senior managing director Bruce Ganong and associate director Erica Christensen.

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

Lincoln Harris Brokers Four Leases Totaling 12,203 Square Feet at the SouthCourt Building in Durham, NC

Kaler Walker

 RALEIGH, N.C. (Nov. 23, 2015) — Lincoln Harris’ Raleigh office has brokered four leases totaling 12,203 square feet at the SouthCourt building, located at 3211 Shannon Road in Durham, North Carolina.

 Kaler Walker and John Mikels of Lincoln Harris represented the landlord in the transactions. The details of the transactions are below:

·      Merrill Lynch signed a 9,116-square-foot lease renewal. Heath Chapman of CBRE-Raleigh, in conjunction with Ann-Fleming Powell of Lincoln Harris, represented the tenant.

  BluePrint Hair Design signed a 1,494-square-foot lease.

•   Sandy Winchester Salon signed a 560-square-foot lease renewal.
• ·      Walker Holdings Group, LCC signed a 1,033-square-foot lease renewal.

The six-story SouthCourt building includes 131,000 square feet of Class A office and retail space. Amenities include a landscaped courtyard with a water feature, cherry wood paneling, granite finishes, and a two-story lobby.

The landlord recently completed a full building common area renovation as well as a parking lot renovation at the property. Blue Cross Blue Shield has also recently begun moving into the three floors they signed a lease for earlier this year, bringing this building to 95% occupancy.

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

Savannah Duncan

The Wilbert Group

404-343-0870 (O) 404-901-4433 (C)

sduncan@thewilbertgroup.com

St. Regis Hotels & Resorts Debuts in Dubai

St. Regis Dubai Hotel, Dubai, United Arab Emirates

Michael Wale

DUBAI, United Arab Emirates, Nov. 23, 2015 – St. Regis Hotels & Resorts, part of Starwood Hotels & Resorts, Inc., today announced the debut of the St. Regis brand in Dubai with the opening of The St. Regis Dubai.

Owned by Al Habtoor Group, the hotel introduces uncompromising experiences with its luxurious bespoke hospitality, eight exceptional culinary venues, the first Iridium Spa in Dubai, a fleet of Bentleys as well as the first Bentley Suite in the Middle East which will be unveiled in early 2016.

 “We are proud to partner with Al Habtoor Group and to launch Starwood’s largest hospitality project in the region as we open the first of three hotels in this prestigious development,” said Michael Wale, President, Starwood Hotels & Resorts, Europe, Africa and Middle East.

 “The entry of our ultra-luxury St. Regis brand in this important market strengthens Starwood’s presence in the United Arab Emirates as we remain on track to double our portfolio in the region by 2019.”

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

 Hwee Peng Yeo

Vice President, Asia Markets

Glodow Nead Communications

Asia: 65.9768.6087  US:415.394.6500 • E: hweepeng@glodownead.com

www.GlodowNead.com

Mortgage Bankers Association Opens Doors Announces Major Donation from Arch Capital Group

Debra  Still

WASHINGTON, DC (November 23, 2015) – The Mortgage Bankers Association Opens Doors Foundation (MBA Open Doors) today announced that Arch Capital Group Ltd. (Arch Capital), has made a very generous contribution.

MBA Opens Doors is a non-profit organization dedicated to providing assistance to families with a critically ill or injured child by making their mortgage or rent payment.

Arch Capital’s generous donation has earned them recognition as an Opens Doors Foundation Guardian and is the largest single donation in Foundation history.

"On behalf of everyone working with the MBA Opens Doors Foundation, I want to thank Arch Capital for this generous donation," said Debra Still, CMB, Chairman of the MBA Opens Doors Foundation and President & CEO of PulteMortgage.

“From reading the grant applications each month, I have seen how lives are touched by Opens Doors. Through the support of Arch Capital and others, our industry is making a profound impact on those who receive the grants, giving families with critically ill or injured children the gift of spending precious time together."

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

Ali Ahmad

aahmad@mba.org

(202) 557-2727

The Habitat Company Expands Property Management Portfolio 18 Percent with Addition of 3,600 Units in Alabama

                                                                                 

Matthew Fiascone

CHICAGO, IL (Nov. 23, 2015) – The Habitat Company, a leading multifamily property developer and manager, announced it has been selected by Goff Capital Partners as property manager for seven individual market-rate properties in Birmingham, Alabama and the surrounding area.

Chicago-based The Habitat Company also serves as property manager for four other properties owned by Goff Capital Partners, totaling more than 2,000 units located in Ann Arbor, Michigan, St. Louis, Missouri and Tampa, Florida.

The assignment expands Habitat’s management portfolio by more than 3,600 apartments, bringing the total number of units under Habitat’s management to more than 23,000.

“This engagement demonstrates the importance of long-term, trusted relationships and the value in living up to our commitment to provide excellent service to both property owners and community residents alike, a hallmark of Habitat,” said Matt Fiascone, president of The Habitat Company.

“Not only does this expanded partnership with Goff grow Habitat’s portfolio by nearly 18 percent, it adds 90 members to our team and serves as our entry into the competitive Birmingham market.”

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

Cara Mooses, cmooses@taylorjohnson.com, 312.267.4523

1200 S. Indiana in South Loop Approved by Chicago Plan Commission for 76-Story Apartment Tower Designed by Rafael Viñoly

Bruce A. Menin

 CHICAGO, IL – The Chicago office of Crescent Heights® announced S Loop Chicago Development, LLC has received approval from the Chicago Plan Commission for the first phase of 1200 S. Indiana, a three-phase residential development located at the southwest corner of Grant Park in the heart of Chicago’s South Loop neighborhood.

Formerly referred to as 113 E. Roosevelt, the first phase of 1200 S. Indiana is a 76-story, 829-foot rental tower designed by Rafael Viñoly Architects, which is slated to become one of the tallest residential buildings in Chicago. 

“1200 S. Indiana will offer residents not only a marquee address, but also breathtaking views in every residence, from those overlooking iconic Grant Park, to the cityscape, to Lake Michigan,” said Bruce A. Menin, principal at Crescent Heights®.

“We are grateful for the support this project has received from Alderman Pat Dowell as well as the community, and are incredibly fortunate to have secured Rafael Viñoly for this important site.” 

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

Kelly Henderson Rejoins WNC as Senior Vice President of Originations for the Northeast

Kelly Henderson

IRVINE, Calif., Nov. 23, 2015 – WNC, a national investor in real estate and community development initiatives, announced today that Kelly Henderson, Esq., a seasoned affordable housing professional with 16 years of experience, has rejoined the firm as senior vice president of originations, responsible for the Northeast region. 

Henderson previously spent nine years with WNC, from 2006 to early 2015, as senior vice president in acquisitions.

In her new role, Henderson is responsible for property acquisitions and closings in the Northeast, including the states of Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont, as well as Washington, D.C. 

The company’s existing Northeast portfolio includes 136 affordable housing projects with 11,827 units that have a total development cost of approximately $771.2 million.

Henderson will play a significant role in providing service to WNC’s northeastern clients, as well as developing new relationships with developers in the region.

Will Cooper Jr.

“We’ve always sought to provide the highest quality of services to our partners,” said Will Cooper Jr., president and chief executive officer of WNC.

 “Our success is directly related to our ability to attract talented people that come to WNC to make a difference. 

"Kelly exemplifies this in our culture and we are excited to have her join our team as a senior originator building relationships with affordable housing developers in this important market.”

Prior to joining WNC originally in 2006, Henderson served as vice president, director of acquisitions for a national tax credit syndication firm, responsible for all aspects of closing low-income housing tax credit (LIHTC) transactions. 

She is a licensed attorney, earning her juris doctor degree from the New England School of Law. Henderson earned a bachelor’s degree from the State University of New York at Geneseo.

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

Julie Leber

Spotlight Marketing Communications

949.427.5172, ext. 703

julie@spotlightmarcom.com

www.wncinc.com.

Arbor Appoints Linda Gorbenko as Director, FHA in Long Beach, CA, Office

 

Linda Gorbenko

UNIONDALE, NY (Nov. 23, 2015) - Arbor Commercial Mortgage, LLC (“Arbor”), a national, direct commercial real estate lender, today announced the appointment of loan originator Linda Gorbenko as Director, FHA in the company’s Long Beach, CA, office.

She is responsible for originating multifamily financing utilizing all of Arbor’s diverse loan product offerings including FHA, Fannie Mae, Freddie Mac, CMBS, Bridge, Mezzanine and Preferred Equity. 

Ms. Gorbenko has more than 18 years of experience and has originated more than $1.7 billion in loan transactions during her career while also playing a contributory role in helping to close an additional $1.9 billion in loans.

Prior to Arbor, she was an Executive Director at CIBC where she originated short- and long-term, fixed- and floating-rate financing transactions. She also spent 16 years at GE, where she worked her way up from Associate to Senior Director in the company’s Los Angeles office.

Ms. Gorbenko earned her Masters of Business Administration from SDA Bocconi in Milan, Italy. She also graduated magna cum laude from California State University, Fullerton, earning a Bachelor of Arts with a concentration in finance.

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

Christopher Ostrowski

costrowski@arbor.com

Holiday Inn Port of Miami sells for $65M to developer of World Trade Center of the Americas

  

Larry Stockton

MIAMI, FL (Nov. 23, 2015) – The Holiday Inn Port of Miami has sold for $65 million, capping an 18-month-long process with a closing on Friday, Nov. 20.

The property sold to 340 Biscayne Owner, LLC, an entity run by Gilberto Bomeny, the developer of the proposed World Trade Center of the Americas, a mixed-use project expected to be built on the site.

Larry Stockton, Senior Vice President, and Jeff Resnick, Senior Associate, with Colliers International South Florida brokered the transaction between the buyer and the seller, Marina Park Inn, LLC.

“The beauty of this site is that the hotel earns over $5 million in annual net operating income, which gives the developer the flexibility to develop the site when he sees fit since it carries itself as-is,” said Colliers’ Stockton.

Jeff Resnick

The proposed World Trade Center of the Americas is a 77-story mixed-use project which is planned to include 400 condos, 240 hotel rooms, 270,000 square feet of retail and 246,000 square feet of office space, according to the Miami Herald. The site plans have been approved by the City of Miami’s Urban Design Review Board.

The Holiday Inn is located at 340 Biscayne Blvd. in Miami and is 1.1 miles from the Port of Miami.

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

Leah Saunders 

Senior Account Executive

B2 Communications

p 727.895.5030 x104 | c 813.924.0367

www.B2Communications.com

'The Boot' is New Fitness Destination in Davenport, FL

  

Lakeland, FL -- "The Boot" Fitness Camp is the newest fitness facility in the four corners area. "The Boot" recently opened its first location on US Highway 27 in Ridgeview Plaza.

Elian Martinez, owner of "The Boot" provides a unique experience for his clients.

"There is nothing like this in the community, and we want to meet the demand in the area for a facility that offers personal training, nutrition consulting, fitness camps, and boxing conditioning," says Martinez.

Martinez, a.k.a. "Lord of the Ring", is a seasoned entrepreneur who has been in business since 2003 in various industries. Martinez returns to his passion for helping the local clientele improve their fitness levels and quality of life with “The Boot”.  

Angela Harwell

Angela Harwell, CCIM and Director of Leasing and Sales for Century Retail states,

 "'The Boot' is an ideal example of a community-centered tenant.”  

Harwell adds, "Our leasing activity for high-density areas continues to strengthen, and 'The Boot' is a perfect addition to our tenant mix at Ridgeview Plaza".

“The Boot” Fitness Camp was established in October of 2015 and is located at Ridgeview Plaza, 45677 US Highway 27 in Davenport, Florida.  

Owner Elian Martinez serves the fitness interests of the community by offering personal training, boot camps, nutrition counseling and other programs.  

Contact (863)547-9061 or (407)244-6034 for additional information.  

Please visit www.centuryretail.com or contact Angela Harwell, CCIM at angela@centuryretail.com

 or (863)647-1581 x215 for information about leasing opportunities.

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

PR contact:  Jennifer Scoggins

Jennifer@centuryretail.com

Ph:  (863)647-1581 x221

Angela Harwell, CCIM, Director of Leasing and Sales

Century Retail

Phone: (863)647 1581 x215

angela@centuryretail.com

www.centuryretail.com