HFF closes $7.8 million sale of 5.12-acre development site near JFK International Airport in New York City

 

Michael Nachmkin

FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $7.8 million sale of the 5.12-acre land tract adjacent to John F. Kennedy (JFK) International Airport in the New York City borough of Queens, New York.

HFF marketed the site on behalf of the sellers, Philips International and Rhodes NY.  Gabrielli Truck Sales Ltd. (Gabrielli) purchased the site.

The project required various state and local approvals from the New York City Economic Development Corporation and the Port Authority of New York and New Jersey.  Gabrielli plans to construct a facility for their use on the site.

JFK International Airport is one of the leading international air cargo centers in the world and home to 18 cargo-only freight carriers, including American Airlines, FedEx, Delta Airlines and China Airlines.

 The site is located at 181-25 Eastern Road in Jamaica, Queens, which is in the Queens County industrial submarket and proximate to both the Belt Parkway and Interstate 678 (JFK Expressway) leading into Manhattan.

 Construction will begin on the industrial development this year.  Prior to this development, there have been few industrial/commercial developments within a three-mile radius of the airport within 30 years. 

Evan Pariser

The HFF investment sales team representing the seller was led by managing director Michael Nachamkin and senior managing director Evan Pariser.

“We were extremely happy with the outcome for both the buyer and seller,” Nachamkin said.  “The purchaser worked extremely hard along with their counsel to obtain all the approvals necessary to develop the site for their needs.”

 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.gabriellitruck.com.

NAI Realvest Negotiates Four Leases at South Park Business Center in Orlando, FL

 

Tom R. Kelley II

 ORLANDO, FL – NAI Realvest recently negotiated four leases totaling 8,703 rentable square feet at South Park Business Center, 8600 Commodity Circle in Orlando.

Tom R. Kelley, II, CCIM, a principal at NAI Realvest negotiated all the transactions on behalf of the landlord South Park, LLC. 

Bloom USA International Corp, a manufacturer and distributor of housewares, has leased 2,307 square feet; David Hammett of CRE Advisors LLC represented the new tenant.

TLL Top LED Lumination LLC also signed a new lease for 2,084 square feet;

Concord Alliance, LLC renewed its lease of 2,218 square feet and Vacation Innovations renewed the lease of 2,094 square feet.

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

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

.

Alex Lastra, Senior Managing Director of Atlantic | Pacific Development, Appointed President of Latin Builders Association

Alex Lastra

MIAMI, FL – Miami-based Atlantic | Pacific Companies (A|P Companies), a fourth generation real estate company, is pleased to announce Alex Lastra, Senior Managing Director of Atlantic | Pacific Development (A|P Development), a subsidiary of A|P Companies, was appointed as the 22nd President of The Latin Builders Association (LBA).

The LBA is the largest Hispanic construction association in the United States and is a nonprofit organization, which includes a vast array of individuals and companies related to the South Florida construction industry. 

Previously a member of the LBA’s board of directors, Lastra’s goal for the LBA is for continued growth and believes in being a strong voice for its members

"I want to be a voice protecting the industry to continue growing opportunities for developers and contractors. If there is any problem affecting the real estate industry in Miami, the Latin Builders are there to protect the interest of its members,” said Lastra.

Prior to joining A|P, Lastra was a member of The Lastra Group, a design/build firm developing small offices as well as large luxury residences. Following his tenure at The Lastra Group, he joined The Related Group of Florida.

Randy Weisburg

During his six years at Related, Lastra was responsible for all facets of real estate development including initial site planning, land entitlements and acquisitions through construction and project close out.

 Lastra received his Bachelor’s degree with a specialization in Finance from Florida International University graduating with Honors.

Randy Weisburd, A|P's Chief Operating Officer, says "A|P is delighted to have our Senior Managing Director serve as the President of The Latin Builders Association. Our senior team leaders continue to take leadership roles throughout our community; we commend their commitment and dedication."

For more information about A|P and its array of real estate services including development, property management, affordable housing, and construction, visit www.apmanagement.net or call (800) 918–1145. Follow A|P on Facebook (@AtlanticPacificCompanies), Instagram (@APCompanies) and Twitter (@APCompanies).

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

Jessica Wade Pfeffer | jessica@jessicawadeinc.com | (305) 804 - 8424

Margie Sernik | margie@jessicawadeinc.com | (786) 200 - 2516

Wendover Housing Partners’ Haley Park Apartments Eases Financial Strain on Income Restricted Seniors in Tampa, FL

Jonathan L. Wolf

TAMPA, FL,  April 26, 2016 – Wendover Housing Partners, a privately held real estate development, investment and management company, today announces the opening of its first affordable senior community in Tampa, Haley Park Apartments.

The new property is a member of the prestigious collection of properties in Florida built and managed by Wendover Housing Partners. 

With first-class design standards in mind, Haley Park provides income restricted residents age 55 and up with a safe and upscale community to call home.

“The National Housing Conference predicts that the number of Florida residents age 65 and older will more than double by the year 2030,” said Jonathan L. Wolf, President and Founder of Wendover Housing Partners. 

“As the state’s aging population increases, there is an immediate need for cost-effective rental homes for seniors, especially in metro areas near hospitals and doctors’ offices. Haley Park will help address this rising need in Hillsborough County.”

Wendover broke ground on the 80-unit Haley Park development in June 2015, and will welcome its first residents in May. Each one and two-bedroom unit in Wendover’s new community was thoughtfully designed with senior comfort and safety in mind, and comes equipped with a dishwasher, microwave, island and pantry, as well as a full-size washer and dryer.

Rendering of planned Haley Park Apartments, Tampa, FL

All units also boast ample storage areas in an open and spacious floor plan, as well as a monitored emergency call system. 

With monthly rent from $605 to $720, Haley Park’s apartments are priced far below Florida’s average range of $1,176 to $1,657.

“While our units are affordable, they are designed with the same style and amenities you’ll find in high-end apartment communities,” said Wolf. “Our goal is not just to fill apartments—we believe in fostering a community in which our residents feel socially stimulated and supported.”

Like Wendover’s other senior properties in Florida, which include New Port Richie’s The Landings at Sea Forest, Jacksonville’s Marcis Pointe, and Central Florida’s Heritage Village Commons, Haley Park provides residents with the opportunity to participate in planned resident events.

 Residents are also offered constant access to a variety of indoor and outdoor areas to socialize, including a fitness center, library, swimming pool, green space with benches and a gazebo, and a dog park.

 For more information about Haley Park, visit www.haleyparkapts.com.

For additional information about Wendover Housing Partners, visit www.wendovergroup.com.

  

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

Melissa Landy

Uproar PR for Wendover Housing Partners

321.236.0102 ext. 233

mlandy@uproarpr.com

HFF secures acquisition financing for Class A office building in San Francisco’s North Bay

  

Civic Center Plaza, 3950 Civic Center Drive, San Rafael, CA

 SAN FRANCISCO, CA –- Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured acquisition financing for Civic Center Plaza, a two-building, Class A office campus totaling 93,535 square feet in San Rafael, California.

Bruce Ganong

Working on behalf of the borrower, a joint venture between Union Property Capital and a high-net-worth investor, HFF placed the loan with USAA Real Estate Company on behalf of an affiliate.  

Civic Center Plaza is located at 3900 and 3950 Civic Center Drive on a five-acre site adjacent to Highway 101 in the heart of Marin County.  The property is 96 percent leased to multiple tenants including Autodesk and Marin General Hospital.

 Originally constructed in 1988 and recently renovated and upgraded in 2011, Civic Center Plaza is LEED Silver certified and has enjoyed stable occupancy throughout its history.

The HFF debt placement team representing the borrower was led by senior managing director Bruce Ganong.

“USAA Real Estate Company provided fixed-rate financing for a term of 10 years and prevailed over a number of competing proposals from other life insurance companies,” said Ganong.  

“The depth of interest in this transaction is good evidence that portfolio lenders continue to have ample liquidity and offer attractive terms for strong sponsors with well-located assets generating stable cash flow.”

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.unionpropertycapital.com

www.usrealco.com.

HFF arranges $55.1 million refinancing for The Ritz-Carlton, Denver

The Ritz-Carlton, Denver, Downtown Denver, CO

Eric Tupler

DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $55.1 million in refinancing for The Ritz-Carlton, Denver, a 202-room, full-service, AAA Five-Diamond award-winning, luxury hotel in downtown Denver, Colorado.

HFF worked on behalf of the borrower, Pearlmark, to place the floating-rate loan with the Canadian Imperial Bank of Commerce.  Loan proceeds will be used to refinance an existing loan.

A best-in-class hotel since its 2008 opening, The Ritz-Carlton, Denver underwent $9.3 million in capital improvements between 2013 and 2015. 

The hotel features The Ritz-Carlton Club Level® with dedicated concierge and continuous food service throughout the day; Elway’s Restaurant, six-time winner of Wine Spectator’s Award of Excellence; Forbes Four-Star award-winning The Ritz-Carlton Spa; recently-renovated fitness center with adjacent salon; and access to the adjacent TruFit Athletic club with lap pool, Olympic weights and an indoor climbing wall. 

Additionally, the hotel offers 12,383 square feet of meeting and event space with access to the hotel’s Event Concierge, Technology Butler® services and a catering and entertainment team. 

Daniel Peek

Situated on .5 acres at 1881 Curtis Street, The Ritz-Carlton, Denver is in the epicenter of Denver’s corporate and entertainment district.

Within walking distance from the hotel is Denver Union Station, with access to the light rail, Colorado Convention Center, Coors Field, Pepsi Center, Sports Authority Field at Mile High and more than 36.7 million square feet of office space.

The HFF team representing the borrower was led by senior managing director Eric Tupler, senior managing director and head of HFF’s hotel group Dan Peek and managing director John Bourret.

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.pearlmarkrealestate.com.

HFF secures $44.159 million financing for 121 West Trade Street in Charlotte, NC

121 West Trade Street, Charlotte,NC

CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $44.159 million in financing for 121 West Trade Street, a 32-story, 330,483-square-foot, Class A office building in Charlotte, North Carolina.

HFF worked on behalf of the borrower, LPC Realty Advisors I, LP, an affiliate of Lincoln Property Company, to secure the five-year, floating-rate loan through MetLife Investment Management.

 Initial proceeds of $36.1 million were used for post-close acquisition financing, while the remainder will be used for future capital costs. 

HFF brokered the sale of the property to LPC Realty Advisors I, LP, in December of 2015.

121 West Trade Street is situated in the heart of Charlotte’s downtown, within walking distance of nearly all of the city’s amenities and attractions including The EpiCentre, Spirit Square Center for the Arts, Discovery Space Center, Time Warner Cable Arena, the Levine Center for the Arts and the new Gold Line streetcar system, connecting to the entire light rail system. 

Susan Hill

 The property has efficient connectivity to Interstates 277, 77 and 85, and is within 20 minutes of the Charlotte Douglas International Airport and 15 minutes from SouthPark, a popular Charlotte shopping destination.  







121 West Trade Street’s largest tenant is Chicago Bridge & Iron.

 Additional tenants include SAS Institute, Caudle & Spears and Brookwood Associates.  


The property also features the Charlotte City Club on the top two levels and parking on levels two through nine.

The HFF debt placement team representing the borrower was led by senior managing directors Travis Anderson and Susan Hill and associate director Cory Fowler.

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

The Ratkovich Co., National Real Estate Advisors and Blue Vista Capital Announce Close of $225 Million Loan at The Bloc

Wayne Ratkovich

LOS ANGELES, CA – The Ratkovich Company, National Real Estate Advisors (“National”) and Blue Vista Capital announced they have secured a $225 million permanent loan to finance The Bloc, a premier urban destination in the heart of Downtown Los Angeles.

“As we enter the final stretch of construction, this financial commitment underscores the collective excitement we all share for the future impact of this project,” said Wayne Ratkovich, CEO of The Ratkovich Company.

 “The added flexibility provided by this investment will help us to continue realizing our goal of providing Angelenos with a truly transformational community cornerstone at The Bloc.”

“This financial commitment lends further credence to the vibrant revitalization underway in downtown and lays the foundation for continued growth in the decades ahead,” said Jeff Kanne, President of National Real Estate Advisors. “With the grand opening of the project just months away, we are thrilled that we’ll soon be able to share The Bloc with the entire Los Angeles community.”

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 arranges $30.39 million refinancing for Cambridge, MA office property

  

Greg LaBine

BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $30.39 million refinancing for 10 Fawcett Street, a 134,561-square-foot, multi-tenant office building in Cambridge, Massachusetts.

HFF worked on behalf of the borrower, Griffith Properties (Griffith) and Artemis Real Estate Partners (Artemis), to secure the three-year, floating-rate loan through Eastern Bank (Eastern).

10 Fawcett Street is located in the Alewife area of Cambridge, less than one mile from the Alewife MBTA station, providing Red Line subway service into downtown Boston and points in Cambridge. 

The property is proximate to Route 2 and Interstate 90, providing connectivity to the suburbs of Boston as well as downtown.  Most recently renovated in 2011, the six-story property is fully leased to tenants including General Services Administration, Raytheon BBN Technologies and Accion International. 

The building’s former lead tenant Cambridge Trust recently vacated.  Working proactively, the borrower has signed several short term leases for the vacated space, and signed a lease with international consulting firm, Abt Associates, who will occupy this space and more for their regional headquarters starting in April 2018.

The HFF debt placement team representing the borrower was led by managing director Greg LaBine and director Porter Terry.

“Griffith and Artemis were able to add tremendous value to the property with the signing of the Abt lease and others.  Eastern recognized this value and provided an attractive opportunity to recapitalize the project,” said Labine.

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 $74.5 million refinancing for Three-property Class A industrial portfolio in Fort Worth, TX

Alliance Center North within AllianceTexas Development, 15101 North Beach Street,
 Fort Worth, TX

 DALLAS, TX –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $74.5 million refinancing for a three-property, Class A industrial portfolio totaling 1.6 million square feet within the AllianceTexas development in Fort Worth and Roanoke, Texas.

Meggie Lowy

HFF worked on behalf of the borrower, Hillwood, to place the 10-year, fixed-rate loan with a correspondent life insurance company.  HFF is servicing the loan, proceeds of which are refinancing the existing construction loans.

Completed between 2014 and 2015, the portfolio is anchored by Alliance Center North 2, a 1 million-square-foot, 58.7-acre distribution center 100 percent leased to Wal-Mart and located at 15101 N. Beach Street in Fort Worth. 

The two portfolio buildings in Roanoke are Gateway 88, a 333,200-square-foot, build-to-suit facility for Heritage Bag Company located at 501 Gateway Parkway, and Gateway 57, a 210,296-square-foot facility that is home to Momentum Fuel Technologies and located at 1051 Republic Drive. 

All three buildings are within AllianceTexas, an 18,000-acre, mixed-use, master-planned community developed by the borrower with office, industrial, commercial, retail and residential components.

  The portfolio buildings are close to Interstate 35 and BNSF Railway’s Alliance Intermodal Facility in addition to being proximate to Fort Worth Alliance Airport.  Dallas-Fort Worth International Airport is less than 21 miles southeast of the properties.

The HFF team was led by director Cullen Aderhold and senior managing director Trey Morsbach. Hillwood Properties Director of Finance Meggie Lowy managed the transaction for Hillwood.

“We received a strong refinancing package for this portfolio and look forward to expanding the relationship through future opportunities,” Lowy said. “HFF played a valuable role in this transaction, and we appreciate its efforts to provide us with the most competitive quotes in the marketplace.”

 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.alliancetexas.com

www.hillwood.com.

RealtyTrac Reports U.S. Home Sellers in March 2016 Realized Highest Home Price Gains Since December 2007

Daren Blomquist

IRVINE, CA — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, released its March and Q1 2016 U.S. Home Sales report, which shows that U.S. home sellers in March on average sold for $30,500 more than they purchases for, a 17 percent average gain in price — the highest average price gain for home sellers in any month since December 2007 at the onset of the Great Recession.

The RealtyTrac Home Sales report is based on publicly recorded sales deeds collected and licensed by RealtyTrac in more than 900 counties nationwide accounting for more than 80 percent of the U.S. population.

Among 125 metropolitan statistical areas with at least 300 sales in March, home sellers realized the biggest average gains compared to purchase price in San Francisco (72 percent average gain); San Jose, California (60 percent); Boulder, Colorado (53 percent); Prescott, Arizona (51 percent); and Los Angeles (48 percent).

“Home sellers in many markets are now seeing average price gains close to or above what home sellers experienced during the last housing boom,” said Daren Blomquist, senior vice president at RealtyTrac.

“That should encourage more homeowners to take advantage of the prime seller’s market and list their homes for sale this year. Banks are already taking advantage of that market as evidenced by the uptick in the distressed sales share over the last two quarters.

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

Jennifer von Pohlmann

949.502.8300, ext. 139

jennifer.vonpohlmann@realtytrac.com

Charles Dunn Company Completes $2.12 Million Sale of Multi-Tenant Retail Property in San Luis Obispo County, CA

Kyle Gulock

 LOS ANGELES, CA – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $2.12 million sale of a 3,496-square-foot multi-tenant, NNN-leased property in Atascadero, Calif. (within the County of San Luis Obispo). The tenants include Chase Bank, and Verizon Wireless (franchisee).

Kyle Gulock and Jason Cope of Charles Dunn Company represented the seller, EHA Atascadero LLC, an entity of an Atascadero-based development firm which has projects throughout California. 

The buyer was a Santa Monica-based private trust that was in a 1031 exchange. The transaction closed at a capitalization rate of 4.8 percent and a price per square foot of approximately $602.

“Chase Bank recently signed a 10-year lease,” said Gulock. “The buyer is planning on holding this asset long term as it offered a stable, passive investment.”

The property was developed in 2004 with additional improvements in 2007 and is located 8025 and 8055 El Camino Real. The building is situated on .31 acres at the intersection of Curbaril Ave. and El Camino Real and is within a shopping center anchored by Walgreens.

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

Darcie Giacchetto

949.278.6224

Bull Realty Adds Xceligent to their Client & Broker Resources

ATLANTA, GA — Bull Realty has added Xceligent’s national full suite, including Commercial Search, as an in-house tool for agents to be more beneficial for clients.

Michael Bull

Xceligent provides a comprehensive inventory of commercial properties, buildings available for lease and sale, tenant information, sales & lease comparables, historical trends on lease rates and building occupancy, quarterly analytic reports, market analytics, and demographics.

  

Bull Realty founder, Michael Bull, said: “Very few brokerages have access to the full suite of Costar, with information for the entire country, much less CoStar National and Xceligent National. 

With the combined strength of both platforms, our agents have an enhanced arsenal of knowledge. We are very excited to add this valuable business tool.”

For more information contact Bull Realty at 404-876-1640 or Info@BullRealty.com - Bull Realty, Inc. (www.BullRealty.com) is a U.S. commercial real estate brokerage and advisory firm headquartered in Atlanta, licensed in nine states providing acquisition, disposition, leasing and advisory services. The firm also produces and hosts The Commercial Real Estate Show (www.CREshow.com).

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

Melissa Henry

Communications Associate

Bull Realty, Inc. 

50 Glenlake Pkwy, Suite 600

Atlanta, GA  30328

404-876-1640 x 110

Alabama Office of Berkadia off to Strong Start in First Quarter of 2016

 

David Oakley

 Birmingham, AL -- The Alabama office of Berkadia Real Estate Advisors is off to a strong start in 2016, reporting sales of more than 1,230 multi-family units and a land site during the first quarter totaling more than $100,000,000.

David Oakley, managing director of Berkadia-Alabama, said the Alabama division brokered $420 million in sales of 6,299 units in all of 2015. 

“2016 is rivaling last year from the start and we expect a continuation of the high velocity of apartment sales during the remainder of this year,” Oakley said.

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 New Five-Year Lease at Pennock Business Center in Jupiter, FL

Therese Taylor

 JUPITER,  FL -- Hold-Thyssen, Inc., a commercial property firm based in Winter Park, recently completed a five-year lease agreement at Pennock Business Center, 711 Commerce Way in Jupiter.

Therese Taylor, transaction specialist in the firm’s Winter Park office, negotiated the transaction representing the landlord, GECMC 2005.  

The new tenant Paradise Outdoor Kitchens leased Unit 11 with 1,500 square feet of showroom/warehouse space. 

Hold-Thyssen is leasing and management agent at Pennock Business Center and has stabilized the asset for the owner, increasing occupancy from 80 to 100 percent.

Hold-Thyssen provides commercial property leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current 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.