HFF arranges $53.426 million in equity and debt for high-rise apartment development in Philadelphia’s University City

Rendering of planned 3201 Race Street Apartments, University City Neighborhood, Philadelphia, PA

Ryan Ade

PHILADELPHIA, PA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $53.426 million in preferred equity and construction financing for the development of 3201 Race Street, a 16-story, luxury high-rise apartment property in Philadelphia’s University City neighborhood.

HFF worked on behalf of the developer, Radnor Property Group, to arrange $18.076 million in preferred equity from a commingled fund managed by American Realty Advisors. 

In addition, HFF secured a $35.35 million construction loan for the newly-created partnership through the Santander Commercial Real Estate office in Philadelphia.

Due for completion in 2017, 3201 Race Street will have 164 one- and two-bedroom residential units averaging 680 square feet each and 13,837 square feet of ground floor commercial space, which will be occupied by childcare operator Nobel Learning Communities. 

Situated on a 0.68-acre site on the Drexel University campus, the property provides nearby access to Interstate 76, the Philadelphia Museum of Art and the 30th Street Station, which is the largest transportation hub in the region and the third busiest Amtrak station in the United States. 

Mark Thomson

In addition, the project is situated two blocks from the Innovation Neighborhood, which when complete, will add 6.5 million square feet of mixed-use space to the submarket.

The HFF deal team was led by managing director Ryan Ade and senior managing director Mark Thomson.

”HFF was very pleased to be involved in raising both equity and debt capital on behalf of Radnor Property Group,” said Ade.  “We are excited to see this project come to fruition as University City continues to attract institutional capital from around the United States.”

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.americanreal.com.

HFF arranges financing for 148-unit apartment community in Temple, TX

Cortney Cole

HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged financing for Chappell Creek Village, a 148-unit, garden-style apartment community in Temple, Texas.

Working exclusively on behalf of the borrower, Chappell Hill Equity III, Ltd., HFF placed the 10-year, 3.86 percent, fixed-rate loan with a correspondent life insurance lender.

Chappell Creek Village is situated on the north side of Ira Young Drive in southwest Temple, just one half of a mile east of Interstate 35 and near major area employers such as Scott & White Memorial Hospital, McLane Foodservice headquarters, Walmart Regional Distribution Center and Temple Mall. 

Built on 12.62 acres, the property encompasses 148 one-, two- and three-bedroom units within 12 two- and three-story apartment buildings that total 147,220 rentable square feet.  Community amenities include a swimming pool, fitness center, business center and on-site laundry facilities.  The property is 93 percent occupied.

HFF’s debt placement team was led by director Cortney Cole and executive managing director Scott Galloway.

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 secures $30.5 million financing for Broomfield, CO multi-housing development

 

Josh Simon

DENVER, CO  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $30.5 million in financing for the development of Mountain View at Palisade Park, a 216-unit, garden-style multi-housing community in Broomfield, Colorado.

Working exclusively on behalf of Jeffrey Sanders of Boulder, Colorado-based MountainView Capital, LLC, HFF placed the construction loan with a regional bank.

Situated on 8.29 acres at the southwest corner of 169th Avenue and Huron Street, Mountain View at Palisade Park is located just off Interstate 25 and is approximately 20 miles north of downtown Denver and 20 miles east of downtown Boulder.

 Due for completion in 2017, the property’s eight, three-story residential buildings will house one-, two- and three-bedroom units averaging 909 square feet each with amenities including nine-foot ceilings, granite countertops and stainless steel appliances. 

Common area amenities will include a community clubhouse, resort-style swimming pool, state-of-the-art fitness center, yoga room and garage/carport parking.

The HFF debt placement team representing the borrower was led by Josh Simon and Kristian Lichtenfels.

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

April E. Frisby Expands Newmeyer & Dillion’s Transactional Group in Newport Beach, CA

  

 

April E. Frisby

  NEWPORT BEACH, CA, March 12, 2016 -- Newmeyer & Dillion, LLP, a premier business, real estate and insurance law firm in California and Nevada, is pleased to announce that April E. Frisby has joined the firm as of-counsel in the Newport Beach office.

 April has over fifteen years of corporate and securities experience representing public and private companies and other business professionals in a wide range of business matters including entity formation and compliance, contracts, private placements and M&A.  She also is experienced in estate planning and administration.

April has served as an adjunct law professor at both Whittier Law School and Western State College of Law teaching courses such as Transactional Legal Writing, Contract Drafting, Securities Regulation and Wills & Trusts. April is a contributing writer to the Continuing Education of the Bar (CEB) blog and is currently authoring a chapter on conversions of corporations for its corporate series.

  

April is very involved with the California State Bar having served as the Editor-in-Chief and Chair of the Business Law News, Vice-Chair of Programs and Publications for the Business Law section and currently serves as an advisor.

Transactional Partner Jane Samson, who spearheaded the firm’s search, could not be more pleased with April’s decision to join the firm. “The growth of our transactional practice remains a strategic priority for the firm, and April both compliments and expands on what we do -- she is an amazing fit for us.”

Jane Samson

For more than 30 years, Newmeyer & Dillion has delivered creative and outstanding legal solutions and trial results for a wide array of clients.  

With over 70 attorneys practicing in all aspects of business, employment, real estate, construction and insurance law, Newmeyer & Dillion delivers legal services tailored to meet each client’s needs.

 Headquartered in Newport Beach, California, with offices in Walnut Creek, California and Las Vegas, Nevada, Newmeyer & Dillion attorneys are recognized by The Best Lawyers in America©, and Super Lawyers as top tier and some of the best lawyers in California, and have been given Martindale-Hubbell Peer Review's AV Preeminent® highest rating.

For additional information, call 949-854-7000 or visit www.ndlf.com.

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

Gia Altreche 949.271.7338 or gia.altreche@ndlf.com

Newmeyer & Dillion | 895 Dove St. 5th Floor | Newport Beach, CA 92660

Crossman & Co. Negotiates Four New Leases totaling 19,795 Square Feet at four South Florida Shopping Centers

Kim Fitzgerald

Palm Beach, FL --- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently closed four new long-term leases for a total of 19,795 rentable square feet at three shopping centers in Palm Beach County and one in west Broward.  

Kim and John Fitzgerald, senior associates with Crossman & Company in Southeast Florida, negotiated all four leases on behalf of the landlords. 

Memphis-based Auto Zone leased 11,832 square feet at Lantana Shopping Center.  The 124,078 square foot Publix-anchored center 1404 W. Lantana Rd. in the coastal town is also home to CVS, Dunkin Donuts and Subway.   NAI Miami represented the tenant. The Landlord is BET Investments.

John Fitzgerald

Representing the same landlord, the Fitzgeralds negotiated a lease with Publix Liquor for 3,600 square feet at Southdale Shopping Center, 846 Southern Blvd. in West Palm Beach.  The 112,194 square foot Publix-anchored center is also home to Wells Fargo Bank.  

At Plaza Del Mar, 250 Ocean Blvd. in the coastal city of Manalapan, Posh for Hair leased 1,891 square feet complementing the roster of boutiques at the 102,715 square foot center including Chico’s, Angela Moore, Ice Cream Club, local Italian and Asian cuisine restaurants just to name a few.

Hi Tek Nails is a current tenant who expanded and signed a new long-term lease of 2,472 square feet at Stirling Town Center at Stirling and Pine Island Roads in Cooper City.  Some other manor tenants at the 56,857 square foot center are Beef O’Brady’s, Starbucks and Tijuana Flats.

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

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com

Crossman & Co.brings Chai Thai Cuisine to Belle Isle Commons in Belle Isle, FL, Boosting the Shopping Center to 100% occupancy

Tyler Wilkins

ORLANDO, FL – Tyler Wilkins, associate with Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently negotiated a long-term restaurant lease for Belle Isle Commons and brought the 82,093 square foot shopping center to 100 percent occupancy.

Chai Thai Cuisine executed a lease for a 1,600 square foot unit at Belle Isle Commons with plans for a June grand opening serving moderately priced, traditional cuisine.

Wilkins said the excellently rated restaurant is already a tenant at another retail center which is also leased and managed by Crossman & Company on South Orange Ave. south of downtown. 

Belle Isle Commons, which serves the upscale city of Belle Isle, will be Chai Thai Cuisine’s third Orlando location, joining multiple restaurants, Starbucks and anchor Planet Fitness.

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

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com

Hold-Thyssen Negotiates Eight Leases totaling over 17,300 square feet of office space at Hiawassee Plaza in West Orlando, FL

Joelle Forster

ORLANDO, FL --- Hold-Thyssen Real Estate Services recently completed eight lease agreements for  a total 17,397 rentable square feet at Hiawassee Plaza, 6907 W. Colonial Blvd. at the corner of N. Hiawassee Rd. in  west Orlando.

The Hold Thyssen leasing team of Martin Forster CCIM and Joelle Forster negotiated the transactions representing the landlord at Hiawassee Plaza, a 59,067 square foot retail and office center.    The leases include 

A new lease for 2,896 square feet to Commonsense Childbirth, Inc;  

A lease renewal agreement with Gabriel Health Institute for the 956 square feet they occupy as well as an expansion into an additional 963 square feet;

Martin Forster

A lease renewal agreement with Jacksonville Beauty Institute Inc. for the 5,064 square feet they occupy and a renewal of the MetroPCS lease of 2,168 square feet;

A new lease for the 1,943 square foot end-cap to a retail tenant; XxtraOrdinary Services renewed its lease of 1,293 square feet and Teodoru Dentistry renewed 1,133 square feet.  Value Tax is a new tenant that leased 963 square feet.

Hold-Thyssen provides commercial property brokerage, leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current management portfolio includes more that 100 commercial properties throughout the United States.

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

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com

Lush to Open its First Alabama Store at The Summit in Birmingham, AL; Additional new retailers include bevello, Soft Surroundings and American Threads

  

Libby Lassiter

BIRMINGHAM, AL — Bayer Properties announced that Lush, the international retailer of fresh handmade cosmetics, is opening its first Alabama location at The Summit. The 1,558-square-foot retail store is scheduled to open this May.

Lush offers luxurious and ethical skincare, haircare and bath ingredients in more than 900 stores in 51 countries. Lush’s newest store will replicate the sophisticated and fun environment of its flagship location in London.

 In addition to Lush, The Summit is welcoming several other tenants new to Alabama this year, including bevello, Soft Surroundings and American Threads.

“We are thrilled that Lush and these other fine retailers are joining The Summit,” said Libby Lassiter, executive vice president of leasing and retail development for Bayer Properties. 

“All of these brands share Bayer Properties' ongoing commitment to further enhancing our customers' experience while bringing exclusive, one-of-a-kind stores and experiences to Birmingham.”

Alyssa Gates

“The new store at The Summit signifies another milestone for Lush,” said Alyssa Gates, Lush cosmetics director of U.S. real estate. 

“We had numerous requests via our social media channels and call center to open a store in Alabama, and we are excited that we can now offer local Lush fans our unparalleled selection of Fresh Handmade Cosmetics.”

2015 marked Lush’s 20th anniversary of creating innovative cosmetics using fresh fruits and vegetables, as well as the finest essential oils and ingredients that are ethically and sustainably sourced. 

Never tested on animals, every single Lush product is vegetarian, and approximately 85 percent are vegan, 40 percent are preservative-free and 35 percent are unpackaged.

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.

Crossman & Co. Earns CoStar Awards for Top Leasing Company and Power Brokers in Major Southeast Markets

Rochelle DuBrule

Tracy Worrell

ORLANDO, FL --- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently was ranked by CoStar Group, Inc. among the top 10 commercial real estate firms.

John Crossman, president, said his firm was named “Top Leasing Company” in both the Orlando and Palm Beach County regions for retail property leasing in 2015.

Crossman said three out of the top 10 CoStar Power Brokers named in Orlando were Crossman & Company Senior Associates Rochelle DuBrule and Tracy Worrell and Associate Tyler Wilkins. 

Sherri Mann

Sandra Woodworth

The firm’s Senior Associates Sherri Mann and Amanda Steidtmann in Crossman’s Atlanta office made the CoStar 2015 Top 20 Power Broker list; Senior Associate Sandra Woodworth was named a top 10 retail leasing broker in the Tampa / St. Petersburg market and John Fitzgerald was among the top 10 Power Brokers in Palm Beach County. 

 CoStar Group, the nation’s leading real estate information company, ranks real estate companies based on transaction volume and dollar value.

Tyler Wilkins

Amanda Steidtmann

Recipients of the 2015 CoStar Power Broker™ Awards are recognized as professionals who perform at the highest levels in commercial real estate brokerage

CoStar Group, Inc. (NASDAQ: CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces.

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 multiple-anchor community shopping center in northern New Jersey

  

Essex Green Shopping Center 295 Prospect Avenue, West Orange, NJ

Jose Cruz

FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Essex Green, a 350,000-square-foot community shopping center located in the northern New Jersey community of West Orange, New Jersey.

FF marketed the property on behalf of the seller, a global investment manager.  Clarion Partners purchased the asset free and clear of existing debt in a highly-competitive process on behalf of a commingled fund.   According to HFF, this is one of the largest retail sales in New Jersey in the last two years.

Essex Green Shopping Center is the largest community shopping center in Essex County.  Ninety-six percent leased at the time of closing, the center has a mix of national, regional and local tenants, including ShopRite, Macy’s Backstage, a nine-screen AMC Theatre with dine-in service, Total Wine & More, Sears Appliance/Outlet, Petco, TGI Fridays, Panera Bread, GameStop and GNC. 

Situated on 33.38 acres at 295 Prospect Avenue, the six-building Essex Green Shopping Center is positioned at the corner of Prospect and Rooney Circle directly off a four-way interchange with Interstate 280 (Essex Freeway).

Kevin O'Hearn

 One of the most affluent parts of the state, the area is commonly referred to as “Suburban Essex” and includes the communities of Livingston, Milburn/Short Hills, Essex Fells, Glen Ridge, Montclair, Verona and Maplewood.

The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn and associate director Stephen Simonelli and supported by senior managing director Andrew Scandalios and managing director Chris Munley.

“Essex Green was very highly sought after, given the record grocery sales at the property combined with the upside of the available space,” Cruz said.  

“Grocery-anchored retail remains very high on institutional investors’ lists of asset classes that they need for their funds.  I will also say that we had a significant amount of private buyers show up for this offering.”

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.clarionpartners.com.

HFF arranges joint venture and financing for Laguna Hills, CA medical office building acquisition

Saddleback Valley Medical Center, Laguna Hills, CA

Todd Sugimoto

LOS ANGELES, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a joint venture and financing for the acquisition of Saddleback Valley Medical Center, a 135,904-square-foot medical office property on the campus of Saddleback Memorial Medical Center in Laguna Hills, California.

        

HFF arranged the joint venture between Greenlaw Partners and a fund advised by UBS Realty Investors LLC, who together acquired the asset for $34.5 million.  Additionally, HFF worked on behalf of the joint venture to secure the floating-rate acquisition loan through a regional bank.   

          

Saddleback Valley Medical Center is situated on a 2.6-acre site at 23961 Calle de la Magdalena, on the campus of the Saddleback Memorial Medical Center, which was voted the #1 Hospital in Orange County in 2014 in the Orange County Register’s “Best of Orange County”.

 The five-story property borders Laguna Woods Village, a 3,500-acre independent living, 55+ community and is less than a half of a mile from the San Diego Freeway.  Saddleback Valley Medical Center was most recently renovated in 2014 and is currently undergoing lease-up.

 Greenlaw and UBS plan to build upon their experience in the local market and invest capital into the building to solidify Saddleback Valley Medical Center as one of the premier medical office buildings in the greater Orange County market.

The HFF team representing Greenlaw Partners was led by managing director Todd Sugimoto and associate director Jeff Sause.

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.ubs.com/realestateAbout.

HFF hires Brent Bowman as a director in its Carolinas office

 

Travis Anderson

CHARLOTTE, NC  -– Holliday Fenoglio Fowler, L.P. (HFF) announced Brent Bowman has joined its Carolinas office as a director focused on debt and equity placement transactions in the Southeast and Mid-Atlantic region. 

Mr. Bowman has more than 15 years of real estate finance experience and joins HFF from Bank of America Merrill Lynch in Charlotte where he was a director in its real estate corporate banking division.

 In this role, he managed a portfolio of more than 35 national real estate and lodging clients ranging from private equity fund sponsors to global hotel managers.

 Previously, Mr. Bowman was a vice president in the real estate syndicated finance division of Banc of America Securities where he originated and executed real estate debt financings across all levels of the capital structure.

“Since opening the Carolinas office in July 2014, we are purposely building out each line of business and property specialty,"  commented Travis Anderson, co-head of the HFF Carolinas office.  

 “The addition of Brent allows us to expand upon our debt and equity capabilities for our current and future clients across the southeast and particularly in the REIT and private equity realm, where he has cultivated extensive relationships, We’re excited to have Brent join our team and look forward to his contributions to the firm.”

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

Strand Hospitality Services Assumes Management of the Courtyard by Marriott Columbus West in Ohio

Andrew Pace

Columbus, OH,  March 9, 2016 – Strand Hospitality Services, a leading provider of hospitality operations, consulting and advisory services, today announced that it has assumed management of the Courtyard by Marriott Columbus West. 

Located at 2350 Westbelt Drive in Ohio, the hotel will undergo a complete $3 million guest-rooms renovation in 2016 and will remain open during the progress.

Ideally situated off Interstate 70 and 270, the Courtyard by Marriott Columbus West is located just minutes from downtown Columbus and Ohio State University, as well as other area attractions. 

The 150-room hotel boasts 8,790 sq. feet of meeting space between eight rooms.  The Grand Ballroom, the hotel’s largest venue, can accommodate up to 300 guests for weddings and other events. Personalized, onsite catering also is available. 

“Strand will work closely with owners, Conor Acquisitions of Fort Myers, Fla., to ensure that we build on the hotel’s current successes,” said Andrew Pace, senior vice president of Strand Hospitality.

 “Strand strategically has continued to expand our partnerships, management and franchising with Marriott International.  In addition to the Courtyard by Marriott Columbus West, Strand Hospitality will begin construction on four Marriott-branded hotels in 2016."

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

Chris Daly, media

(703) 435-6293

chris@dalygray.com

Passco Cos. Acquires Core 240-Unit Multifamily Asset in Prime Washington, DC Metro Area

The Shelby Apartments, Washington, DC

ALEXANDRIA, VA (March 9, 2016) – Passco Companies, LLC has acquired The Shelby, a core 240-unit multifamily community in the prime Washington D.C. metro area of Alexandria, Virginia for $69.5 million.

 The Class A property was completed in 2014 and is centrally located to provide unparalleled access to employment, retail and lifestyle amenities, according to Gary Goodman, Senior Vice President, Acquisitions at Passco Companies.

Gary Goodman

“The Washington D.C. metro is an investor’s dream,” says Goodman. “This area provides strong actual and anticipated job growth, high income levels, a dynamic infrastructure and a highly educated workforce, all of which will continue to drive demand for The Shelby over time.”

Goodman notes that the Washington D.C. metro leads the nation in jobs per capita, and is anticipated to add an additional 43,800 jobs per year through 2018.

 The average median household income for residents in the area is $107,000. In addition, the property is located within a half-mile radius of the Huntington metro station, Route 1 and Interstate 495.

“The tremendous ongoing growth throughout the region, coupled with the apartment community’s close proximity to major transit and employment hubs will continue to increase property value and drive up market rents over time,” says Goodman. “The result will be increased long-term cash flow and stronger returns.”

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

Jonathan Thiel Promoted to Senior Sales Associate at Berger Commercial Realty

  

Jonathan Thiel

FORT LAUDERDALE, FL (March 9, 2016) – Jonathan Thiel was recently promoted to senior sales associate at Berger Commercial Realty, a full service commercial real estate firm based in South Florida. Thiel joined the firm as a sales associate in 2012.

“Since joining the firm four years ago, Jonathan has certainly come into his own as a broker,” said Berger Commercial Realty President Lloyd Berger. “Always eager to learn from our more senior brokers, Jonathan’s dedication and enthusiasm have undoubtedly contributed to our firm’s success.”

Recognized as Berger Commercial Realty’s top broker under 30 in 2014, Thiel is a member of the South Florida Office Brokers Association, Young Professionals for Covenant House, Florida International University Alumni Association and St. Thomas Alumni Association. He holds a Bachelor of Science in hospitality management from Florida International University.

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

954-776-1999

Pierson Grant Public Relations

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com