New Model Opens at Brighton Mews in Park Ridge, IL

Jerry S. James

CHICAGO, IL — Glenview, Ill.-based homebuilder Edward R. James Companies announced it has opened a model home at Brighton Mews, a 29-unit townhome community in the heart of downtown Park Ridge. Located at 305 S. Northwest Highway, the Andover model is among four floor plans available.

“Brighton Mews delivers a high-quality lifestyle rooted in convenience, not only because it’s a maintenance-free community, but it’s also within walking distance to a variety of shops, restaurants and public transportation,” said Jerry S. James, president of Edward R. James Companies.

 “It’s ideal for buyers looking to maintain an urban lifestyle while enjoying the small-town charm, quality schools and advantageous pricing of an in-demand suburban location.”

In addition to its proximity to the Metra station, historic Pickwick Theater, and Shoppes of Uptown, Brighton Mews is also located directly behind Whole Foods. “According to Zillow, being this close to a Whole Foods has a tremendous positive impact on home values,” said James. “This is a major consideration for buyers who are seeking favorable resale value down the road.”

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

www.erjames.com

www.erjames.com/brighton-mews-of-park-ridge

The Summit at Fritz Farm Announces Cos Bar Luxury cosmetics retailer opens first-ever Kentucky location

Lily Garfield

BIRMINGHAM, AL — Bayer Properties announced Cos Bar, the first independent luxury cosmetics retailer in the U.S., has selected The Summit at Fritz Farm as its premier Southeastern location.

Cos Bar currently operates specialty boutiques in affluent markets such as Aspen, Vail, Scottsdale, and New York City. The Summit at Fritz Farm is a $156 million mixed-use experiential development opening in Lexington, Kentucky in March 2017.

“Attracting unique retailers such as Cos Bar to The Summit at Fritz Farm furthers our vision to create an unparalleled experience in Lexington,” said Jeffrey Bayer, president and CEO of Bayer Properties. “Our desire is for The Summit at Fritz Farm to complement the sophistication and charm of Lexington and become a one-of-a-kind gathering place for visitors and residents.”

Cos Bar offers a top tier assortment of global cosmetic and skincare brands traditionally only sold at luxury department stores, such as Tom Ford, La Prairie, By Terry, By Kilian and La Mer, to name a few.  

 “Lexington is an underserved market for better retail, and the affluent leisure traveler and residents seek a world-class experience when shopping,” said Lily Garfield, founder of Cos Bar. “The Summit at Fritz Farm will take shopping in Lexington to the next level, fitting perfectly with our brand model to cater to those looking for best-in-class products and services in the luxury cosmetics and skincare market.”

The Summit at Fritz Farm, a modern, walkable developmentwill combine national retail brands, local chef-driven concepts, the first food-hall concept in the region, Class A office space, luxury apartments and a fashion inspired boutique hotel.

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

Kristin Jones • The Wilbert Group

1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309

M: 630-363-5747  

@kayjay818

www.thewilbertgroup.com

www.bayerproperties.com.

www.cosbar.com.

BKM Capital Partners Announces Final Closing of Debut Institutional Fund with $105 Million in Equity Commitments and $300 Million in Buying Power

Brian Malliet

            ORANGE COUNTY, CA – BKM Capital Partners, an institutional fund manager with a niche focus on value-add, multi-tenant industrial investments, has announced the final close of its debut institutional fund, BKM Industrial Value Fund I, L.P., with $105 million in equity commitments and $300 million in buying power.

The fund’s commitments come from both institutional investors as well as a small pool of high net worth investors.

            “We took an approach that is different than other first time funds,” says Brian Malliet, CEO and Co-Founder of BKM Capital Partners and Nima Taghavi, Executive Chairman of BKM Capital Partners.  “Rather than immediately pursuing institutional capital after launching our business, we invested our own capital to build out a real organization.”

            According to Malliet, BKM recruited and hired a highly experienced management team with a proven track record in operating in an institutional grade real estate investment fund business.  The firm also raised a friends and family round in order to acquire close to $100 million in seed assets

            “Through this strategy, we were able to demonstrate to our larger institutional investors that we can successfully acquire and generate value with our focused niche, and that it can be scaled,” Malliet says. 

Nima Taghavi

To date, BKM has acquired more than $150 million in assets for the fund (this includes four assets currently in escrow) throughout Las Vegas, Phoenix and Portland. 

The BKM Industrial Value Fund I, L.P. has $300 million of buying power that will be targeted for multi-tenant industrial properties throughout the Western U.S., with a focus on markets such as Washington, Oregon and California.

The vehicle is targeting assets that have significant value creation opportunity over the five year fund term. BKM has a deep pipeline of potential opportunities and is focused on efficiently investing the commitments.  After acquiring these properties, BKM plans to renovate, reposition, and re-tenant each property as needed in order to drive the maximum value for every asset.

“This value-add strategy, coupled with our ability to execute, was a major driver of investor interest during the fundraise period,” says Malliet.  “In addition, potential investors found value in the strength of our deeply tenured advisory board.”

Through long-standing business relationships, BKM’s founders attracted a deeply accomplished group to join the firm’s board of advisors, including former Morgan Stanley CEO John Mack; Jeff Gehl, Managing Director of RCP Advisors; Paul Dolinoy, former Head of Equitable Real Estate National Marketing and Sales Pension Operation; as well as Nima Taghavi, Executive Chairman of the Board and Co-Founder of BKM Capital Partners.

According to Taghavi, “I felt very strongly that one of the components of successfully building our platform and executing on our long term vision and strategy would be to attract the caliber of professionals we have been able to attract to join our advisory board. They are active and involved members and have offered and will continue to offer us invaluable advice.”

BKM Capital Partners is well positioned to provide returns for investors over the long term, according to Malliet, who notes that closing a first-time fund is a noteworthy accomplishment in the current market climate.

“We would like to express our sincere appreciation to all of our investors who made our debut fund possible,” Malliet says.  “When we started our company, only seven percent of all the real estate capital raised went to first time fund managers. The difference for us has been the strong relationships we have forged in the institutional investment sector, as well as BKM’s ability to provide investors with what they value most - proven results.” 

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.bkmcapitalpartners.com.

  

U.S. Residential Loan Originations Decrease 14 Percent in Fourth Quarter Driven by 24 Percent Drop in Purchase Loans, According to RealtyTrac

Daren Blomquist

IRVINE, Calif. –— RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, released its Q4 2015 U.S. Residential Property Loan Origination Report, which shows 1.6 million (1,552,329) loans were originated on residential properties (1 to 4 units) in the fourth quarter of 2015, a 14 percent decrease from the previous quarter but still up 1 percent from a year ago.

The loan origination report is derived from publicly recorded mortgages and deeds of trust collected by RealtyTrac in more than 950 counties accounting for more than 80 percent of the U.S. population.

“The 24 percent drop in purchase originations in the fourth quarter of 2015 was well above the average 15 percent seasonal slump in the fourth quarter over the past 10 years,” said Daren Blomquist, vice president at RealtyTrac.

“New mortgage rules implemented at the beginning of October likely contributed to the decrease, but weakness in some local economies could also be contributing to the decrease, most notably in oil producing markets such as Houston and Oklahoma City, both of which saw purchase originations decrease by double-digit percentages both quarterly and annually.”

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

jennifer.vonpohlmann@realtytrac.com

RealtyTrac Reports January 2016 Home Foreclosure Findings 11 Percent Below January 2015

IRVINE, CA – RealtyTrac reports there were 95,186 U.S. properties with foreclosure filings in January, down 8 percent from the previous month and down 11 percent from a year ago to the lowest level since July 2006, a nearly 10-year low.

·         Lenders completed foreclosure (REO) on 29,275 U.S. properties in January, down 26 percent from the previous month but still up 32 percent from a year ago – the 11th consecutive month with a year-over-year increase in REOs.

·         Lenders started the foreclosure process for the first time on 41,471 U.S. properties in January, down 1 percent from the previous month and down 18 percent from a year ago – the seventh consecutive month with a year-over-year decrease in foreclosure starts. Foreclosure starts continue to run at pre-recession levels.

State highlights

·         States with the highest foreclosure rates in January were New Jersey, Nevada, Maryland, Florida and Delaware.

·         22 states (and the District of Columbia) posted year-over-year increases in foreclosure activity in January, including Oklahoma (up 74 percent), Massachusetts (up 40 percent), New Jersey (up 39 percent), Alabama (up 35 percent), and Pennsylvania (up 17 percent).

·         34 states (and the District of Columbia) posted year-over-year increases in REOs in January, including New York (up 263 percent), Texas (up 198 percent), New Jersey (up 132 percent), Georgia (up 76 percent), and Maryland (up 72 percent).

·         12 states (and the District of Columbia) posted year-over-year increases in foreclosure starts in January, including Oklahoma (up 289 percent), Massachusetts (up 49 percent), New Jersey (up 18 percent), Pennsylvania (up 8 percent), and Indiana (up 7 percent).

Metro highlights

·         Metro areas with the highest foreclosure rates in January were Atlantic City, New Jersey, Trenton, New Jersey, Fayetteville, North Carolina, Tampa, Florida, and Las Vegas.

·         17 of the nation’s 50 most-populous metro areas posted a year-over-year increase in foreclosure activity in January, including Oklahoma City (up 143 percent), Buffalo, New York (up 103 percent), Louisville, Kentucky (up 89 percent), Birmingham, Alabama (up 47 percent), Pittsburgh, Pennsylvania (up 31 percent), Richmond, Virginia (up 25 percent), Boston (up 24 percent), New York (up 20 percent), Philadelphia (up 18 percent), and Portland, Oregon (up 18 percent).

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

jennifer.vonpohlmann@realtytrac.com

Crescent Communities Enters Homebuilding Business with Launch of Fielding Homes

  

Todd Mansfield

CHARLOTTE, NC — In a move to further strengthen its commitment to community development, Crescent Communities today launched Fielding Homes, a new homebuilding company.

Fielding Homes is building in the Charlotte area, and will soon expand to Raleigh and additional fast-growing cities across the Sun Belt region. 

Following the same principles as Crescent Communities, Fielding Homes builds community and betters people’s lives by creating thoughtfully designed homes in prime locations.

“As one of the nation’s leading residential developers, it is a natural progression for us to extend our successful approach into homebuilding and to further enhance our communities by overseeing the development process from start to finish,” said Todd Mansfield, CEO of Crescent Communities.

Andrew Carmody

“We feel that our involvement in the home building industry will add value to our entire portfolio and delight our residents, partners, and investors.”

“Crescent is bringing its same passion for creating vibrant and successful communities to building single-family homes,” said Andy Carmody, President of the Crescent Communities Residential Division. 

“We saw an opportunity in the production homebuilding business to improve the process, make it more personalized for the homebuyer, and therefore elevate the entire experience.

“ As we do with each community that we create, we challenged our Fielding Homes’ team to find innovative ways to redefine homebuilding from the consumer perspective, rather than that of the developer.”

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

Savannah Durban

404-343-0870

sdurban@thewilbertgroup.com

www.FieldingHomes.com.

www.CrescentCommunities.com

.

Multi Housing Advisors Brokers Sale of Two Apartment Communities in South Carolina

  

Carolina Crossing Apartments, Rock Hill, SC

CHARLOTTE, N.C. (Feb. 18, 2015) - Multi Housing Advisors (MHA) has arranged, in separate transactions, the sales of two apartment communities located in South Carolina. Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the sellers in the transactions.

“These two South Carolina markets continue to receive steady attention from investment capital as growth figures maintain a fundamentally optimistic picture,” McCarley said. “Both assets are well positioned to benefit from this continued momentum.”

The Shores at Elders Pond Apartments, Columbia, SC

Details of the deals are below:

·        Hardscrabble Apartment Associates and Pulliam Investment Co. of Spartanburg, South Carolina sold The Shores at Elders Pond. 

The 236-unit property was built in 2004 and 2007 and is located in Columbia, South Carolina.

 The community is positioned in the heart of the Richland 2 school district, which ranks #1 in the state, and is also situated in a high growth area with some of Columbia’s finest retail.

·        Varden Capital Properties (VCP) sold Carolina Crossing to MACC Properties and The JAR Group. The 267-unit property was built in 1999 and is located along one of Rock Hill, South Carolina’s most heavily trafficked corridors, with the surrounding area offering some of the highest home values. The York County submarket has experienced strong job growth and boasts numerous large and stable employers.

  

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

Deborah Rogers

Multi Housing Advisors

404.645.7275

drogers@usmha.com

Faris Lee Investments Completes $4.08 Million Sale of Retail Property in Columbia, SC

Retail Center, 189 Harbison Boulevard, Columbia, SC

IRVINE, CA – Faris Lee Investments, a leading retail advisory and investment sales firm, has completed the $4.08 million sale of a newly developed 7,400-square-foot, two-tenant retail property triple net-leased by Sleep Number and Stanton Optical in Columbia, South Carolina. Both tenants have new, 10-year corporate-backed leases in place with scheduled renewal options.

Matthew Mousavi

Matthew Mousavi and Patrick Luther of Faris Lee Investments represented the seller, a private development based in South Carolina. The buyer was a private family trust from New Jersey. The property sold at more than $550 per square foot, one of the highest on record for Columbia.

Completed in 2015, the new retail property is situated on .51 acres at 189 Harbison Blvd. It is located on one of the main retail corridors in the market, and was marketed prior to completion of construction.

“We received a strong amount of interest from a buyer with the majority of offers being from California,” said Mousavi. “Opportunities to own newly built properties featuring corporate-backed tenants on long-term leases in growing markets are rare.”

Situated on Harbison Blvd., the property is within a major East-West shopping corridor, featuring in excess of two million square feet of retail property. Some of the corridor’s key national/credit tenants include Walmart, Sam’s Club, Target, Ross, Bed Bath & Beyond, Dillard’s, Kohl’s, TJ Maxx, Marshall’s, Babies R Us, and Regal Entertainment.

The property is also located within a half-mile radius of four major shopping centers that include: Columbiana Station, Harbison Court, Harbison Center, and Columbiana Centre Mall.

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

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

  

HFF secures $18 million financing for historic downtown Dallas, TX office building

211 N. Ervay office building downtown Dallas TX

 

De'On Collins

DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $18 million in first lien financing for 211 N. Ervay, a 197,000-square-foot, historic office building with ground-floor retail in downtown Dallas, Texas.

Working on behalf of the borrower, Alterra International, HFF placed the five-year, floating-rate loan with Ready Capital Structured Finance.  Loan proceeds will be used to fund future tenant improvements, leasing commissions and minor remaining capital expenditures on the building.

Originally built in 1958, 211 N. Ervay was completely vacant when Alterra International purchased it in 2012. Upon acquisition, they spent a significant amount of capital to abate, rehab and lease up the property. 

The ground-floor retail is 100 percent leased, anchored by Koleksiyon Furniture, 7-Eleven and Café Izmir.  The office tower is leased to a variety of tenants, including Fort Work, Tech Wildcatters, Traxo and Koios Works.

 Situated at the intersection of N. Ervay and Elm Streets, the building is accessible via Interstates 30 and 35 and Highway 75 in addition to being within walking distance of the St. Paul DART light rail station. 

The HFF debt placement team representing the borrower was led by associate director De’On Collins and managing director Steven Heldenfels.

According to HFF, “the building’s rehabilitation is part of a continuing trend revitalizing downtown Dallas into not only the largest employment center in North Texas with 135,000 employees, but also into a live-work-play destination.”

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

Kristen M. Murphy

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

http://www.hfflp.com/

 www.Alterrainternational.com.

HFF secures $33 million refinancing for Hampton Inn San Diego/Mission Valley

Hampton Inn San Diego/Mission Valley, San Diego, CA

NEWPORT BEACH, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $33 million refinancing for Hampton Inn San Diego/Mission Valley, a 184-room, LEED-certified, select-service hotel in San Diego’s Mission Valley West neighborhood.

HFF worked on behalf of the borrower, T2 Hospitality, to secure the 10-year, fixed-rate loan through Goldman Sachs Mortgage Company.  Loan proceeds were used to refinance existing debt.

James Fowler

Situated at 2151 Hotel Circle South in Mission Valley, a shopping and entertainment center in northern San Diego, the newly-renovated Hampton Inn San Diego/Mission Valley is located near many of San Diego’s popular attractions and destinations, including SeaWorld San Diego, Belmont Amusement Park, Mission Beach, Historic Old Town and the San Diego Zoo. 

Additionally, the hotel is approximately five miles from downtown San Diego and the San Diego International Airport.   Renovated in 2014, Hampton Inn San Diego/Mission Valley features electric vehicle charging stations, complimentary breakfast, multilingual staff, fitness room, pool, business center and a boardroom that seats up to 10 people. 

The HFF debt placement team representing the borrower was led by managing director James Fowler.

“T2 Hospitality has created a high-quality offering that features a variety of modern amenities and contemporary-style design for maximum comfort, relaxation and productivity,” Fowler said.  “The rooms are spacious and offer the most up-to-date technology, with free Wi-Fi and an ergonomic desk along with a 40-inch HDTV with more than 100 channels.”

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

Kristen M. Murphy

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

http://www.hfflp.com/

www.t2hospitality.com

HFF arranges $60.67 million construction loan for Class A creative office development in Watertown, MA

Rendering of planned Linx office development, Watertown, MA

BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $60.67 million construction loan for the development of LINX, a 185,595-square-foot, speculative office development in Watertown, Massachusetts. 

HFF worked on behalf of the borrower, Boylston Properties, to secure the three-year, floating-rate loan through Cornerstone Real Estate Advisers, acting on behalf of an institutional client. 

The current single-story, 93,000-square-foot industrial building began its transformation into LINX, a Watertown, Massachusetts creative office building, in October 2015.

 Upon completion, which is slated for early 2017, LINX will offer tenants Class A, innovative office space boasting a dramatic, two-story atrium, 14’ and 30’ ceiling clearances in office space, LEED-certification, and a private shuttle bus to Harvard Square, among other highly desirable amenities that simply cannot be achieved within the four walls of existing office product.

 LINX will be purpose-built creative space, flexible and functional, designed to meet the requirements of today’s office tenants.  LINX’s location at 490 Arsenal Way is located just off of Arsenal Street, a corridor of Watertown that has been the focal point of activity with both under construction and proposed developments attracting top tenants, such as athenahealth, to the area. 

The 10-acre site is just four miles west of Boston, close to Harvard Business School, Cambridge’s Kendall Square, Harvard Square and Alewife.  This prime location allows LINX to offer prospective tenants a better “inner urban” location than the vibrant, but suburban, office and tech communities of central 128. 

The HFF debt placement team representing Boylston Properties was led by senior managing director Frederic Wittmann.

Boylston Properties has been active in investment and development in the Watertown market for the past 15 years; most recently acquiring 570 Arsenal Street and developing a 150-room Marriott Residence Inn on the site, and the redevelopment of The Arsenal Project, in addition to LINX.

“The Arsenal Street corridor in Watertown is a viable alternative for the oversaturated Kendall Square office market, the extremely congested West Cambridge/Alewife market and the suburban markets of central 128,” said Wittmann.  “With proximity, pricing and a new purpose-built, highly efficient building, LINX will be extremely attractive to new and existing tenants.”

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

Kristen M. Murphy

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.boylstonproperties.com.

www.boylstonproperties.com.

$129.3 million sale of core Class A mixed-use property in Seattle’s South Lake Union submarket sold by HFF

                                                                  (Photo by Red Studio Inc.)

Alley24 Office Building, 221 Yale Avenue North, South Lake Union submarket, Seattle, WA

Todd Tydlaska

                                                                  PORTLAND, OR  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Alley24, a 215,402-square-foot, core Class A office building with ground floor retail in Seattle’s South Lake Union submarket.

HFF marketed the property on behalf of the sellers, Vulcan, Inc. and PEMCO Insurance Co.  MetLife purchased the asset for $129.3 million and assumed an existing life insurance company loan.   

  

Alley24 is located at 221 Yale Avenue North in South Lake Union, Seattle’s epicenter of industry and innovation and one of the first LEED Certified green neighborhood plans in the nation boasting a Walk Score® Index of 95. 

Completed in 2006, the property was one of Seattle’s first mixed-use projects to earn LEED certification and features sustainable elements such as abundant natural daylight, operable windows, low energy and water flow fixtures, automatic sun-tracking sun shades and environmentally sensitive building materials.

  The 85-percent-leased property serves as the corporate headquarters for architectural firm NBBJ.  Additional tenants include Skanska and Cole & Weber.  Alley24 offers tenants two roof decks, operable windows with sun-tracking shades, flexible floor plans, and ground floor retail.

Nick Kucha

The HFF investment sales team representing the sellers was led by senior managing directors Todd Tydlaska, Nick Kucha and Michael Leggett, who is the co-head of HFF’s West Coast team.

According to Tydlaska, “Alley24 is one of the only true mixed-use assets in the South Lake Union submarket, a centrally-located, high-amenity, pedestrian-oriented location that has maintained historical occupancy of more than 96 percent since it was completed. 

 Most significantly, banner tenants NBBJ, Skanksa and Cole & Weber have occupied the building since it was delivered in 2006.”

Kucha added, “The opportunity to acquire a core asset in South Lake Union attracted domestic as well as foreign capital and we were pleased to have a deep buyer pool for this asset.” 

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

Kristen M. Murphy

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.metlife.com.

HFF closes sale of West Woods Shopping Center in Austin, TX

West Woods Shopping Center, 3267 Bee Cave Road, Austin, TX

Jim Batjer

DALLAS, TX  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of West Woods Shopping Center, a 189,340-square-foot shopping center anchored by Michaels, Stein Mart and Petco in Austin, Texas. 

HFF arranged the sale of the property on behalf of the seller, Velocis.  An institutional joint venture purchased the asset for an undisclosed amount.  Additionally, HFF is engaged to arrange post-acquisition financing for the buyer.

The 98-percent-leased West Woods Shopping Center is also home to CVS Pharmacy, Train for the Game, My Fit Foods, Sports Clips, U.S. Post Office, Great Harvest Bread Company, Massage Envy, Pure Barre, Oasis Dance Spa, Tiff’s Treats and Mattress Firm. 

The three-building center has two outparcel pads leased to Raising Canes and Taco Bell.  Situated on 18.56 acres at 3201 and 3267 Bee Cave Road, West Woods Shopping Center is at the intersection of Bee Cave Road, a main east-west artery, and Walsh Tarlton Lane, a main north-south artery.

 The center is surrounded by two of Austin’s most upscale neighborhoods, West Lake Hills and Rollingwood.

The HFF investment sales team representing the seller was led by senior managing directors Jim Batjer and Barry Brown.

The HFF debt placement team representing the new owner is being led by senior managing director Douglas Opalka and director Robert Wooten.

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

Kristen M. Murphy

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 arranges $9.2 million financing for renovation of industrial facility in Bayonne, NJ

Michael Klein

FLORHAM PARK, NJ – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $9.2 million in construction bridge financing to renovate a vacant, 160,575-square-foot industrial property at 99 Avenue A in Bayonne, New Jersey. 

HFF worked on behalf of the developer, Penwood Real Estate Investment Management, LLC (Penwood), to place the construction bridge loan with First Bank NJ. 

Proceeds will be used to rehabilitate the existing building, which features 50’ by 50’ column spacing, 25’ clear heights and 15 dock high loading doors, and prepare the excess 11 acres for the future development of a 175,000-square-foot, state-of-the-art, Class A warehouse distribution building with 36’ clear heights.

99 Avenue A is a former Unilever and Best Foods processing plant that will be converted into a Class A, single-tenant industrial property. 

Situated in the Hudson Waterfront industrial submarket, the 20-acre site is less than half of a mile from the Bayonne Bridge, which connects Bayonne to Staten Island, and four miles from the Hudson County Extension (Interstate 78), which provides direct access to New York City. 

The Port of Newark-Elizabeth and Newark Liberty International Airport are less than three miles from the property and across Newark Bay, which the site overlooks. 

Situated off of Bayonne’s main corridor, State Route 440, 99 Avenue A is two miles north of Interstate 278, 6.5 miles from Interstate 95 and eight miles from State Routes 1 and 9, providing future tenants with highway access throughout the New York metropolitan area and beyond.

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

“Penwood sought a lender who understood their vision for the property and had the flexibility to work with them throughout the rehabilitation of the existing building and through the entitlement process on the excess land,” said Klein.  “First Bank NJ provided a competitive rate, prepayment flexibility and a creative structure that best met the borrower’s needs and performed flawlessly throughout the closing.”

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

Kristen M. Murphy

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.penwoodre.com.

Anantara’s King’s Cup Elephant Polo Tournament 2016 Moves to Bangkok’s Scenic Riverside

18 Elephants Get Ready for 14th Annual King's Cup Elephant Polo Tournament
 in Bangkok, Thailand

BANGKOK, THAILAND, Feb. 18, 2016 -- Mark it in your diaries, Anantara Hotels, Resorts & Spas is announcing the 2016 dates for the highly popular charity event – The King’s Cup Elephant Polo Tournament.

This year’s event will be held by the banks of Bangkok’s mighty Chaophraya River from March 10th – 13th and promises to have a range ele-fantastic fun for the whole family.

Now in its fourteenth year, the tournament has become one of the biggest charitable events in Southeast Asia.

"Open wide now and let me check your teeth, please"

Almost US$1 million has been raised and donated to projects that better the lives of Thailand’s wild and domesticated elephant population, including continued support for research and clinics using elephants in therapy sessions for children living with autism; donating a gantry to help lame elephants stand and a purpose built elephant ambulance to the Thai Elephant Conservation Centre (TECC), and donating an All Terrain Vehicle (ATV) to the Government Elephant Hospital in Krabi. 

"Get ready...get set...Go!"

Other projects include funding farmer/elephant conflict mitigation projects in three Thai and one Tanzanian National Park; planting 4,000 trees to form an elephant proof fence in Thailand;  fully funding the protection of 18,000 hectares of standing forest in Cambodia’s Cardamom Mountains; funding the roll out of children’s educational programmes with the Thai Ministry to teach them the importance of conservation and protection of wild elephants in Thailand and funding the world’s first Target Training Positive Reinforcement Workshops teaching mahouts and trainers throughout Southeast Asia elephant friendly training methods.

"Halt...for the Beauty Parade"

This year’s event will have 10 teams encompassing over 40 players, including Thai celebrities, professional horse polo players, New Zealand All Blacks rugby players and Thailand’s famous transgender cabaret team Miss Tiffany.

A total of 18 elephants will be given a break from their work in tourist trekking camps in Pattaya or bought from unemployment in Surin to take part in the festival, during which they are given much needed food, essential vitamin supplements, full veterinary checks and care for the duration of the event.

Domestic elephants are micro-chipped by the Thai government to show that they have not been caught from the wild.

"Coming up Roses"

The worst trekking camps can be tough for an elephant. In order to make money, mahouts are forced to work their elephants 10 – 12 hours a day.

Conversely, at home in Surin, unemployment means elephants are often left isolated from other elephants with a short chain on two legs 24 hours a day with no exercise or enrichment. In both circumstances, the poverty of existence means their owners cannot afford to feed them anything close to their daily physical needs, emotional needs are forgotten, and shade and sufficient water are often overlooked. 

The King’s Cup schedule is designed to give these trekking elephants rest and relaxation on a scale they are never afforded in their ‘normal’ lives and ensure elephant rest time with interaction and enrichment that neither set of elephants gets in their daily lives.

Miss Tiffany

The four day festival will have something for everyone including an impressive Opening Parade, Children’s Educational Day, Ladies Day known as the ‘Bangkok Ascot’ and a wide range of fun elephant related activities for the whole family.

Anantara has long been associated with elephant conservation efforts with the formation of The Golden Triangle Asian Elephant Foundation, which has performed over 40 rescues of elephants off the streets of Thailand, as well as bringing the hugely successful Elephant Parade to Bangkok where 88 elephant statues were decorated by local and international celebrities and artists to honour Thailand’s HM King Bhumibol Adulyadej’s 88th birthday and will be auctioned off in a gala dinner in February 2016.

Thailand HM King Bhumibol Adulyadej’s 88th birthday Celebrated

For more information on the 14th Annual King’s Cup Elephant Polo Tournament, please visit www.anantaraelephantpolo.com.

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

 Hwee Peng Yeo

Vice President, Asia Markets

Glodow Nead Communications

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