Sale of Embassy Suites by Hilton Orlando Downtown hotel closed by HFF

 

Embassy Suites Orlando Downtown, Orlando, FL

 

Daniel C. Peek

ORLANDO, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Embassy Suites by Hilton Orlando Downtown, a 167-room, full-service, all-suite hotel in downtown Orlando, Florida.

HFF marketed the property on behalf of the seller, HEI Hotels & Resorts.  In their first acquisition in the United States, Paradise Group purchased the asset free and clear of debt and will implement a significant property improvement plan (PIP) to enhance the customer experience and the asset’s ability to compete in the market.  BayStar Hotel Group will manage the hotel.

Opened in 2000, Embassy Suites by Hilton Orlando Downtown’s 167 rooms include eight executive suites and two presidential suites.  

The hotel overlooks Lake Eola and features 6,850 square feet of indoor meeting space with an additional 3,000 square feet of flexible pre-function space, outdoor pool, fitness center, business center, complimentary evening reception and the full-service Eola Café restaurant.

Michael Weinberg

 Embassy Suites by Hilton Orlando Downtown is located at 191 East Pine Street, which is proximate to more than 10 million square feet of office space and adjacent to Lake Eola Park.  

With a Walk Score® index of 92, the hotel is near restaurants, shopping, nightlife, two SunRail train stops and popular downtown entertainment destinations, including the Amway Center and Dr. Phillips Center for the Performing Arts.

The HFF investment sales team representing the seller was led by senior managing director and head of HFF’s hotel group Daniel C. Peek, director Michael Weinberg and associate director Preston Reid.

“It’s exciting to see foreign capital flow into Central Florida and the downtown Orlando submarket,” Weinberg said.  “This was Paradise’s first U.S. investment, so it was good to be able to facilitate the transaction with a new entrant into the market.”

  

 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.heihotels.com

www.baystarhotels.com.

www.paradisegroup.co.kr.

Universe Holdings Refinances Seven Multifamily Properties Through HFF for $14.32 Million

Henry Manoucheri

Los Angeles, CA – Universe Holdings (Universe), a privately-held multifamily real estate investment firm, has completed the strategic refinancing of seven multifamily properties encompassing 125 units in transactions totaling $14,320,000.

 HFF structured the loans on behalf of Universe through Freddie Mac, with five-year fixed interest rates ranging from 3.2 to 3.5 percent.

“We actively manage our portfolio, and HFF is a strategic partner in helping us maximize the value of our owned assets,” said Henry Manoucheri, founder and CEO of Universe Holdings.

“We have completed 38 refinancing and purchase transactions with HFF since 2012, each time stabilizing assets for long-term hold while freeing capital to redeploy in additional acquisitions. 

"This partnership has played an integral role in facilitating growth while providing our investors with enhanced returns.”

Charles Halladay, managing director with HFF, represented Universe Holdings in the transactions, securing the loans on behalf of Universe through HFF’s Freddie Mac Program Plus® Seller/Servicer Program and Sabal Financial’s Freddie Mac Small Balance Program.

The refinanced properties include: Chateau Whitset; Chateau Laurel; Chateau Studio Village; Chateau Spring Gardens; Chateau Sycamore; Chateau Emeleta; and Ocean Elements at Alamitos Beach. The portfolio of seven properties was 100 percent leased at the time of refinance.

  

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

 Chris Egger

chriseggermarcom@gmail.com

$41.5 million sale of 265-unit apartment community in suburban Raleigh-Durham, NC, closed by HFF

 

Allan Lynch

CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of The Village at Marquee Station, a 265-unit, Class A, garden-style apartment community located in the Raleigh-Durham suburb of Fuquay-Varina, North Carolina.

HFF represented the seller/developer, Chapel Hill, North Carolina-based Blue Heron Asset Management, LLC (“Blue Heron”), in the transaction.  

Starlight U.S. Multi-Family Core Fund, an asset managed by Toronto, Canada-based Starlight Investments Ltd., purchased the community for $41.5 million free and clear of existing debt.

The Village at Marquee Station is part of the Marquee Station mixed-use development located at 2110 Cinema Drive just off US 401, one of southern Wake County’s most traveled corridors. 

The property offers convenient access to US 64, US 1, downtown Raleigh and Holly Springs, and is proximate to the future extension of Highway 540 and many of the Raleigh-Durham metropolitan area’s major employers.

The Village at Marquee Station, which has units averaging 996 square feet, was developed by Blue Heron and built by Clancy and Theys Construction.  The NAHB Green-certified property features numerous eco-conscious enhancements, including primarily brick and polished masonry facades, irrigation wells, high-efficiency windows and HVAC units, and energy-efficient LED lighting. 

Justin Good

The community features a saltwater swimming pool with cabana; poolside grilling; fitness center; clubhouse; gaming lounge and media studio; resident lounge with billiards; pet grooming salon; car care center; and detached garages.

The HFF investment sales team representing the seller was led by Allan Lynch and Justin Good.

“This transaction represents the successful culmination of a collaborative, multi-year effort among members of the development team,” stated Maurice Malfatti, Blue Heron co-founder and managing principal. 

“As a firm, an important piece of our mission is to be proud of the developments we create - for our community, our staff, our service providers and our investors.  We are very proud of what our entire team has accomplished at Marquee Station.”

“Completed in phases between 2013 and 2014, Marquee Station has maintained occupancy in the mid-90 percent range and has experienced consistent rent growth since stabilizing in early 2015,” added Lynch.

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.starlightinvest.com

www.starlightus.com.

www.blueheronassetmanagement.com.

$17.435 million financing for Class A multi-housing development in downtown Westfield, NJ arranged by HFF

Rendering of planned 333 Central Avenue Apartments, Downtown Westfield, NJ

Michael KLein

FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $17.435 million in financing for 333 Central Avenue, a 70-unit, Class A multi-housing development in downtown Westfield, New Jersey.

HFF worked exclusively on behalf of The Hampshire Companies (Hampshire) and The Claremont Companies (Claremont) to secure the construction loan through Capital One Bank.

333 Central Avenue is located within walking distance to downtown Westfield, which offers extensive retail and dining amenities.  In addition, the property is less than one-tenth of a mile from a New Jersey Transit train station along the Raritan Valley line, providing access into New York City’s Penn Station. 

Due for completion in spring 2017, the four-story, 126,340-square-foot community will offer a variety of one- and two-bedroom unit layouts ranging from 700 to 1,550 square feet with select units featuring a den and private terrace. 

All units will have hardwood floors throughout, nine-foot ceilings, stainless steel appliances, granite countertops and spacious walk-in closets.  Community amenities will include secure and covered parking, a luxurious lounge with wet bar for entertaining, state-of-the art gym with yoga room, rooftop lounge and additional storage units located on each floor.

 

Jon Mikula

The HFF debt placement team representing the borrower was led by senior managing director Jon Mikula and director Michael Klein.

“Westfield’s desirability and limited multifamily supply coupled with the additional upside of the project’s proximity to a New Jersey transit stop resulted in a tremendous amount of interest from local, regional and national banks to finance the project,” said Klein.

“Capital One was able to provide a very aggressive rate and structure that best met both Hampshire and Claremont’s needs,” Klein continued.  “We are very excited to have worked on their behalf as both firms continue to increase their multifamily holdings.”

 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

Facebook (www.facebook.com/hampshireco)

$569 million sale of 6 Florida seniors housing communities closed by HFF

Aston Gardens Seniors Housing Portfolio, Florida

Ryan Maconachy

DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of a six-property seniors housing portfolio in Florida, known collectively as Aston Gardens.

HFF exclusively marketed the offering on behalf of the seller, Kayne Anderson Real Estate Advisors.  A joint venture between Welltower, Inc. and Canada Pension Plan Investment Board (CPPIB) purchased a 97.5 percent stake in the portfolio in an off-market transaction for $555 million. 

Welltower, Inc. holds a 55 percent stake in the joint venture while CPPIB owns the remaining 45 percent.  The other 2.5 percent stake was purchased by Discovery Senior Living for nearly $15 million.

The Aston Gardens portfolio encompasses six, private-pay, primarily independent living seniors housing properties totaling 1,930 units.  The Class A+, lifestyle-oriented assets have amenities such as heated swimming pools, spas, fitness centers, beauty salons, resident clubhouses and activity centers, arts and crafts studios, putting greens, walking paths and concierge services.

The HFF team representing the seller was led by senior managing directors Ryan Maconachy and Chad Lavender.

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.discoveryseniorliving.com.

http://www.kaynecapital.com/strategies/real-estate-private-equity.

Oak Coast Properties and BMC Investments Announce $50.8 Million Acquisition of The Artisan Townhomes and Apartments in Denver, CO

Brock Yaffe

 Los Angeles, CA – Oak Coast Properties and BMC Investments announced the $50.8 million acquisition of The Artisan Townhomes and Apartments in Denver, Colorado.

Oak Coast Properties will employ a value-add investment strategy to the multifamily community asset via the completion of a robust $2.5 million property renovation and repositioning effort aimed at improving interiors, exteriors and amenities.

Oak Coast Properties has also announced its plans to invest $300 million in the multifamily sector in 2016, with The Artisan acquisition the first in a series of investments made to meet that goal.

“This acquisition marks an important milestone as it signifies more than $500 million invested in multifamily and hotel real estate assets in three years,” said Phillip Nahas, Oak Coast Properties’ Managing Partner.

“The Artisan also grows our Denver apartments portfolio to over 1,500 units and provides an opportunity for significant upside potential through a renovation plan that capitalizes on rising rental rates, unit demand and lack of new supply in this in-demand region.”

Charles Halladay

The Artisan encompasses 434 units offered in a mix of one-, two-, and three-bedroom floorplans.

BLDG Management, the property management company affiliated with BMC Investments, will manage The Artisan.

Brock Yaffe and Charles Halladay of HFF’s debt placement team assisted in securing a $41.89 million loan for the buyer through Freddie Mac’s CME Program. The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer Program.

 Jordan Robbins and Jeff Haag of HFF’s investment sales team represented the seller, Peak Capital Partners, in the sale.

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

Julie Fornaro

562.587.3957

Juliemfornaro@me.com

Hotel Industry Veteran Geoff Davis Joins Leon, Mayer & Co.

Geoff Davis

MIAMI, FL -- LEÓN, MAYER & Co. (LM), a Miami based private equity and investment banking firm, announced that hotel industry veteran Geoff Davis has joined the firm as a partner and chief investment officer in charge of its hotel investment strategy. Davis will lead the company’s recently opened office in Denver, Colo.

In his new role, Davis will oversee hotel investments on behalf of LM both domestically and worldwide. As it builds its hospitality practice, LM is looking to add additional resort and urban lifestyle properties to its portfolio in the US, the Caribbean and Latin America.  LM most recently acquired the El San Juan Resort & Casino in San Juan, Puerto Rico.

Prior to joining LM, Davis co-founded HREC Investment Advisors, where he served as president & senior principal for 14 years.

 Previously, he was a principal in such internationally recognized hospitality groups as Hospitality Investment Counselors, Gemstone Hospitality and various development joint ventures. He has been a successful hotel investor and is regarded as one of the top investment professionals in the hospitality sector.

“The addition of Geoff to our senior team is a significant step as we continue to build our hospitality private equity practice,” said Benjamin Mayer, co-Founder and managing partner.  “Geoff’s experience spans multiple cycles and multiple facets within the hospitality sector, including acquisitions and development, management and brokerage.  His successful track record in investing, as well as business building, makes him the ideal addition to the LM team.”

Benjamin Mayer

“As we ramp up LM’s hospitality acquisition efforts., we are confident that Geoff’s experience and relationships will make him a highly valuable member of the LM team, allowing the firm to increase the number of high-quality hospitality investments transacted upon each year,” said Andro Nodarse-León, co-founder and managing partner.

“LM has a proven track record building successful businesses,” said Davis.  “They have the vision to make intelligent investments in the hotel sector by timing real estate investments to take advantage of macro cycles and implementing true value-add strategies. 

"I look forward to the opportunity ahead and building upon the many relationships I have created during my career.”

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

Chris Daly, media   

(703) 435-6293                                              

chris@dalygray.com

                                      

Crossman & Company Negotiates Three Long Term Leases at Publix-Anchored Loch Leven Landing in Mount Dora, FL

Katherine Rush

 Mount Dora, FL -- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently negotiated three long-term leases at the Publix-anchored retail center at the northwest corner of U.S. Highway 441 and SR 44 in Mount Dora.

Katherine Rush, senior associate at Crossman & Company negotiated all three transactions representing the landlord at Loch Leven Landing.  

Sprint renewed the lease of 1,200 square feet and Today’s Nail and Spa renewed their lease of 1,400 square feet.

The UPS Store is the new tenant in 1,400 square feet and that lease boosted occupancy at Loch Leven Landing to 100 percent, Rush said.  

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

Beth Payan, Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com

NAI Realvest Team Negotiates New Commercial Lease of 22,134 Square Feet for a National Dairy Production Company Near Downtown Orlando, FL

Kimberley Manson

ORLANDO, FL--- The NAI Realvest team of Jeff Tanner and Kim Manson recently negotiated a lease of 22,134 square feet of commercial space at 2700 E. Livingston Street near downtown Orlando.

Manson and Tanner represented the landlord Central Florida Lumber and Supply Co.  in the long-term lease agreement with Dallas-based Dean Dairy Holdings, LLC, a subsidiary of Dean Holding Company.  Southern Asset Service Corporation represented the Tenant.

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

Beth Payan, Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com

NAI Realvest Completes 3 New Office Leases at Primera Court in Lake Mary, FL

 

Mary Frances West

LAKE MARY, FL --- Mary Frances West, CCIM Vice President at NAI Realvest recently negotiated three new leases totaling more than 4,000 rentable square feet of Class A office space in Lake Mary.  

West represented Landlord RREF Interchange-FL Primera I, LLC of Daytona Beach in a new lease agreement with IANPAGE Services of Buffalo NY.  The background investigative services firm leased Suite 200 with 2,670 square feet at 725 Primera Blvd. in Primera Court I.

  Anne Spencer of Cushman & Wakefield represented the tenant.

West also renewed a lease with KIS, LLC an insurance firm who moved from suite 135 at Primera Court I to suite 115 which has 1,380 square feet.   

Representing RREF Interchange-FL, Primera II, LLC, West completed a lease agreement for 1,408 square feet at Suite 205 Primera Court II, 735 Primera Blvd., with XFinigent Solutions, LLC, a firm that provides credit reporting, products and contacts. 

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

Beth Payan, Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com

Berkadia Closes on 276 Units in Huntsville, AL for $15.1 Million

Stone Crossing Apartments, Huntsville, AL

 

David Etchison

 BIRMINGHAM, AL --- Berkadia recently negotiated the sale of Stone Crossing, a 276-unit apartment community located in Huntsville. Built in 1986 and renovated in 2009, Stone Crossing is a two-story, garden-style community with an average unit size of 733 square feet.

David Oakley, Managing Director, and David Etchison, Senior Director of Berkadia Real Estate Advisors, LLC represented the seller, Engel Stone Crossing, LLC. T

Stone Crossing 2014, LLC purchased the property for $15,150,000.00

Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, is an industry-leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties.

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

Beth Payan, Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com

Crossman & Co. Completes Long Term Lease Agreement with New themed attraction in 45,928 square feet at Artegon Marketplace on I-Drive in Orlando, FL

Tyler Wilkins

ORLANDO, FL – Tyler Wilkins of Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently negotiated a long-term lease at Artegon Marketplace located at the north end of International Drive in southwest Orlando’s attractions area. 

NYZ Apocolypse of New York leased 45,928 square feet for its interactive Zombie Survival Experience that is planned for opening during the second quarter of this year.   The new themed attraction will create between 60 and 70 full time jobs.

Wilkins represented the Orlando-based landlord at the Artegon Marketplace which is anchored by Cenemark and Bass Pro Shops.

Ron Jon, Book Warehouse and Boot Barn are among the major tenants, complemented by over 165 local artisans creating one-of-a-kind products.

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

Beth Payan, Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com

Crossman & Co. Names Gina Hensley New Senior Leasing Associate for the Florida West Coast

Gina M. Hensley

ORLANDO, FL -- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, has named veteran commercial real estate broker Gina M. Hensley, senior leasing associate.

        

John Crossman, president of Crossman & Company, said Hensley has 25 years of experience and was most recently the owner of Presidia Real Estate Group, LLC handling property management and brokerage in Greensboro, NC for six years prior to moving to Central Florida.       

Hensley attended the University of Maryland and majored in Finance.   She earned the Certified Commercial Investment Member (CCIM) designation by the CCIM Institute, the Certified Property Manager (CPM) designation by Institute of Real Estate Management and the Real Property Administrator (RPA) from Building Owners and Managers Assn.

In her new role at Crossman & Company Hensley will be representing landlords in the leasing of shopping centers on the Florida West Coast.  

“Gina has an abundance of knowledge and experience and we are delighted she has joined our team,” said Crossman.

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

Beth Payan, Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com

HFF closes sale of Sheraton North Houston at George Bush Intercontinental hotel in Houston, TX

Sheraton North Houston at George Bush Intercontinental Hotel, North Houston, TX

Dan Peek

DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has successfully represented the seller in the sale of Sheraton North Houston at George Bush Intercontinental, a 419-room, full-service hotel in north Houston, Texas.  

Sheraton North Houston at George Bush Intercontinental (Sheraton North Houston) opened in 1983.  Since purchasing the property in 2012, the seller invested more than $15 million between 2013 and 2015 to renovate, modernize and upgrade the hotel. 

The 10-story Sheraton North Houston features 27,676 square feet of function space, a fitness center, outdoor pool, Link @ Sheraton lobby workstation, Sheraton Club Lounge and the full-service Drifters Bistro and Lounge restaurant and bar.

 Located at 15700 John F. Kennedy Boulevard, Sheraton North Houston is less than three miles from George Bush Intercontinental Airport, the fourth largest airport system in the U.S. and the sixth largest in the world.

 Additionally, the hotel is 6.5 miles from the 971-acre Pinto Business Park, 10 miles from the 400-acre Generation Park master-planned commercial development and 17 miles from downtown Houston.

The HFF investment sales team representing the seller was led by senior managing director and head of HFF’s hotel group Dan Peek and managing directors John Bourret and Colby Mueck.

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 secures $83.2 million financing for super regional mall near Los Angeles

South Bay Pavilion, Carson, CA

NEWPORT BEACH, CA  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $83.2 million in first lien financing for South Bay Pavilion, a 1.2 million-square-foot super regional mall in the Los Angeles-area community of Carson, California.

HFF worked on behalf of the borrower, Vintage Real Estate, to secure the three-year, floating-rate loan through PCCP.  The loan is being used to continue the borrower’s redevelopment, repositioning and expansion plan for the mall.

James Fowler

The 95-percent-leased South Bay Pavilion is home to more than 60 tenants, including a new state-of-the-art, 14-screen Cinemark Theatre; Ikea; Old Navy; Olive Garden; Buffalo Wild Wings; Big 5 Sporting Goods; Panera Bread; 24 Hour Fitness; Chili's Grill & Bar and The Children’s Place along with shadow tenants Sears, JCPenney and Target. 

The current expansion plan includes adding several new fashion and restaurant tenants.  Located at 20700 Avalon Boulevard midway between Los Angeles and Orange County, South Bay Pavilion is at the intersection of four major freeways, Interstates 405, 110 and 710 and State Road 91, with direct visibility from more than 300,000 vehicles per day.

 The location serves more than 2.5 million people and receives foot traffic from nearby StubHub Center and the California State University Dominguez Hills campus. 

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

”Vintage Real Estate has done an excellent job renovating South Bay Pavilion over the past few years, bringing a number of new tenants to the center, including Cinemark Theatre and several new restaurants and other specialty retailers,” Fowler said.  “Vintage Real Estate continues to further renovate and expand the mall.  It is quite an exciting project.”

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.vintage-vre.com.

 www.pccpllc.com.