Voit Real Estate Services Directs Major Industrial Lease for Home Furnishing Company in Ontario, CA

Prologis Mission Distribution Center, Ontario, CA

 Ontario, CA – Voit Real Estate Services has successfully completed the $27 million lease of the Prologis Mission Distribution Center, a 741,458 square-foot, Class A industrial distribution center situated on 31 acres in Ontario, California on behalf of Noble House Home Furnishings, a national manufacturer of residential furniture.

Peter Castleton, a Senior Vice President in Voit’s Anaheim office, represented Noble House as the lessee in the transaction.  

The property, which is owned and operated by Prologis, will serve as the new West Coast Regional Distribution Center for Noble House.

“The sheer volume of this transaction, combined with the cost-effective terms of the lease, truly speaks to our expertise in tenant representation and our ability to secure high quality facilities in tight markets on behalf of our clients,” explains Castleton.

“By fostering our long-standing relationship with Prologis, we were able to secure a lease that lowered Noble House’s occupancy costs by 38 percent while still maintaining its close proximity to the Ports of Los Angeles and Long Beach.”

The lessee, Noble House Home Furnishings, is a family-owned manufacturer and distributor of home furniture, specializing in a wide variety of decor, seating, and outdoor furniture.

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

 Katie Kea / Jenn Quader

  Brower, Miller & Cole

  (949) 955-7940

  KKea@browermillercole.com

George Smith Partners Secures $115.3 Million in Financing for 566-Unit Class A Multifamily Property in Los Angeles, CA

Orsini II Apartments, Downtown Los Angeles, CA

 LOS ANGELES, CA  – Commercial real estate investment banking firm George Smith Partners has successfully secured $115.3 million in cash-out refinancing for the Orsini II, a 566-unit Class A multifamily apartment community in downtown Los Angeles on behalf of its client, a Southern California-based commercial real estate developer.

The financing was arranged by George Smith Partners’ Principal and Managing Director, Gary M. Tenzer.

            “Refinancing is a major topic of discussion in the current commercial real estate market,” says Tenzer. 

“With a wall of maturities approaching and recent volatility in the CMBS market, many commercial real estate borrowers are concerned that refinance transactions will require capital injections in order to close.” 

However, Tenzer notes that multifamily product in the Los Angeles market has fared very well, and in many cases, values have risen enough to support cash-out transactions.

Gary M. Tenzer

            “In this case, the institutional-quality asset was completed in 2008 and is currently 99 percent occupied and extremely well-maintained,” explains Tenzer.  “Based on this stability and the sponsor’s strong track record, lender interest was competitive, and we were successful in securing extremely competitive terms for our client.”

            George Smith Partners secured the $115.3 million floating rate loan at 57 percent LTV. The loan is priced over LIBOR and is interest only throughout its 10-year term. 

            The Orsini II is a mid-rise, over podium apartment complex comprised of five stories built over a three-level parking garage.

 Situated on 5.66 acres at the Southeast corner of Figueroa Street and Cesar Chavez Avenue, the building is within walking distance of central downtown Los Angeles and adjacent to the LA Music Center.  

The property offers 566 apartments comprised of studio, one-, and two-bedroom units, as well as two-bedroom loft units, and also includes 20,448 square feet of ground-floor retail.

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

Jenn Quader / Miki Conant

Brower, Miller & Cole

(949) 955-7940

mconant@browermillercole.com

Sale of two Maine hotels to GL Rogers & Company closed by HFF

Hampton Inn Freeport, Maine

Hampton Inn Waterville, Maine

BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $16.933 million sale of the Hampton Inn Freeport and the Hampton Inn Waterville, two hotels totaling 158 rooms in Freeport and Waterville, Maine.

HFF marketed the hotels on behalf of the seller, The Vickery Company, LLC.  GL Rogers & Company through Pendleton Point LLC purchased the assets and has retained Maine Course Hospitality Group for the management of both hotel locations. 

Denny Meikleham

 The Hampton Inn Freeport is located at 194 Lower Main Street, directly adjacent to Interstate 295 in Freeport, about 16 miles north of Portland. 

Freeport is home to L.L. Bean’s flagship store and its town center is a popular outlet area for tourists and residents alike.  

Completed in 1999, the hotel features 77 guest rooms with 312 square feet of function space as well as a business center, fitness room, indoor pool and complimentary breakfast for guests.

Located 76 miles north of Portland, Maine, the Hampton Inn Waterville is positioned just off of exit 127 from Interstate 95 in the city of Waterville.  Situated at 425 Kennedy Memorial Drive, the hotel is within close proximity to local demand drivers, Colby College and Thomas College.  

The 81-room property was completed in 2001 and offers hotel guests complimentary breakfast, a fitness room, indoor pool and business center.  The hotel also features 1,850 square feet of function space.

The HFF investment sales team representing the seller was led by managing director Denny Meikleham and director Alan Suzuki.

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

Kristen M. Murphy

Director, Marketing

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.mchg.com

www.glrogers.com

Rhodes+Brito Named Orlando’s Top Architectural Firm by Orlando Chapter of the AIA

 Byron Lastrapes, AIA, Principal who heads design of K-12 education at Rhodes+Brito Architects flanked by cofounders Ruffin Rhodes, AIA (left) and Max Brito AIA, (right).

Orlando, FL  --- Rhodes+Brito Architects, Inc. was recently named “Firm of the Year”  by the Orlando Chapter of the American Institute of Architects (AIA), one of the most prestigious and influential professional organizations in the U.S.

Orlando International Airport Interior

This month Rhodes+Brito will start the design documents for portions of the new $1.9 billion South Terminal at Orlando International Airport.

Rhodes+Brito opened their downtown Orlando office 20 years ago. Since then the company has successfully completed hundreds of projects, including the landmark Florida A&M University College of Law, Citrus Bowl Renovation, countless schools, libraries, community centers, parks and administrative buildings.

“This is a milestone year for our firm and we are pleased to have received this designation from our peers,” Ruffin Rhodes, co-founder and partner, said recently. “Starting our own company was a life-long dream of ours. 

"Over the last two decades we’ve worked hard to maintain our solid reputation as a quality firm. It is nice to have our dedication to the profession of architecture and accomplishments recognized.”

Max Brito said the firm’s rise parallels that of Orlando. 

Ruffin Rhodes

“We started the company at a time when the City was starting to experience new growth. With this growth, the vision for what the region could become was evolving.” Brito said.

 “We are proud of how the area has developed in these 20 years. Downtown Orlando is such a different place today. As the population has grown, the need for new or renovated facilities has grown, and we are honored to be part in that,” he said.

Rhodes+Brito has grown too, from an enthusiastic startup with just two employees to an intensely focused operation with a staff of more than 20, including seven registered architects and dozens of ongoing projects.

“We feel a deep sense of indebtedness to our current and previous employees, consultants, friends, peers, family and our wonderful clients, but also to this city. It’s our city, and we’re proud to live and work here,” Brito said.

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

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

HFF closes $105.28 million sale of Aventura Corporate Center in Miami, FL

 

Aventura Corporate Center, Aventura, FL

MIAMI, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Aventura Corporate Center, a three-building, core office park with 252,244 square feet of Class A office space in Aventura, Florida, an affluent northeastern suburb of Miami.

HFF marketed the property on behalf of the seller, Groupe Pacific.  Renaissance Properties purchased the park for $105.28 million.

Manuel de Zarraga

Aventura Corporate Center consists of 20801, 20803 and 20807 Biscayne Boulevard, plus three parking garages and significant additional development rights.  The campus-like setting offers tenants an on-site café and the Coconut Grove Bank featuring a drive-through teller.

  Major tenants include Morgan Stanley, South Broward Hospital, Regus, Serendipity Labs and Corpac Steel.  Aventura Corporate Center is located at the intersection of Biscayne Boulevard and NE 207th Avenue across from the world-class Aventura Hospital and Medical Center.

  This location is the midpoint of a one-mile stretch filled with more than 400 retailers at landmarks including Aventura Mall, Promenade Shops at Aventura, Aventura Commons and The Village at Gulfstream Park.  

The AC Hotel by Marriott and the ParkSquare Aventura developments underway on-site and adjacent to the park, will create a walkable “Town Center” atmosphere when complete.

The HFF investment sales team representing the seller was led by executive managing director Manny de Zárraga, director Ike Ojala, senior managing director Hermen Rodriguez and associate director Jorge Portela.  The buyer was represented by Bob Dockerty of Dockerty Romer & Co.

“Aventura Corporate Center represents the largest concentration of office product in Aventura, and was a truly generational opportunity for the new owner to acquire a core office park with significant additional development upside in one of Miami’s most coveted areas,” said de Zárraga.

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

Kristen M. Murphy

Director, Marketing

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

NAI Realvest Negotiates $2 Million+ Purchase of Industrial Properties in NW Orange County, FL

 

Jay Rohr

ORLANDO, FL – NAI Realvest recently negotiated the acquisition of two industrial properties – a 43,713 square foot manufacturing / warehouse facility that sold for $1,652,000 and an adjacent 3.80 acres of vacant land on rail for $390,000 – located on Clark Street in Apopka, northwest Orange County.  

Tom R. Kelley II, CCIM a principal at NAI Realvest, negotiated both transactions on behalf of the buyer MBS Orlando Real Estate, LLC.   

Wiretec Ignition Inc. of Palmetto Florida is the seller of the industrial building and Metroone Development Company of Winter Park is the seller of the vacant adjacent acreage.  The sellers were represented by Jay Rohr of Metro One.

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

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

Meridian Capital Group Arranges $11.4 Million in Permanent Financing for BJ’s Wholesale Club in Homestead, FL

Jason Grimm

Boca Raton, FL, May 12, 2016 – Meridian Capital Group, America’s most active debt broker, arranged $11.4 million in permanent financing for the refinance of a single-tenant retail property in Homestead, FL.

The 15-year, self-liquidating, non-recourse loan was provided by a regional balance sheet lender and features a fixed-rate of 4.00% for the first seven years, followed by a fixed-rate of 4.50% for the remaining term. 

This transaction was negotiated by Meridian Vice President, Jason Grimm, who is based in the Company’s Boca Raton, FL office.

The 136,000 square foot retail property is located at 650 SE Eighth Street near the intersection of Ronald Reagan Turnpike and South Homestead Boulevard. 

Anchor BJ’s Wholesale Club is a national membership-only retail chain offering bulk groceries, electronics, apparel, furniture and much more. The superstore also includes BJ’s Gas, BJ’s Optical and BJ’s Tire Center.

“Meridian worked closely with the lender to satisfy the client’s tax and insurance-related requests and was able to negotiate a springing recourse option in the event that BJ’s Wholesale did not renew its lease upon its expiry in 10 years,” explained Mr. Grimm. “Meridian then helped the client mitigate interest rate risk by locking a 4.00% rate for the first seven years, followed by 4.50% for the remaining term,” he added. 

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

Jonathan Stern

Meridian Capital Group

212/972-3600

jstern@meridiancapital.com

Mary Kay Andrews to Host Book Signing at Ponce City Market in Atlanta, GA

Mary Kay Andrews

ATLANTA, GA – 25 years after leaving her job as an Atlanta Journal-Constitution reporter, New York Times bestselling author, Mary Kay Andrews, a.k.a. Kathy Hogan Trocheck, will debut her latest novel, THE WEEKENDERS, her twenty-fourth novel, with a festive launch party at Ponce City Market on Sunday, May 15 from 3-5 p.m.

This will be in advance of the book’s May 17 on-sale date, offering ticket buyers a chance to get an advance, signed copy via a meet and greet.

WHAT: Official Atlanta book launch for THE WEEKENDERS, by Mary Kay Andrews, benefitting Atlanta Beltline Partnership’s “Light the Line” funding campaign.

WHO: Author Mary Kay Andrews and approximately 450 fans, guests and VIPs

WHEN: Sunday, May 15, 2016 from 3-5 p.m.

  

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

ANDI

HILL

ACCOUNT DIRECTOR

LIZ LAPIDUS PR

O | 404-688-1466

C | 404-457-7368

FOLLOW US @lizlapiduspr

FOLLOW ME @andihill51979

772 Edgewood Ave, NE

Atlanta, Georgia 30307

Real Estate Executives Steven Fischler and Eyal Alfi Team Up to Launch New Real Estate Private Lending Company in Coral Gables, FL

Steven Fischler

Miami, FL (May 11, 2016) —Steven Fischler, founder, president and managing principal of New York-based SRF Ventures, and Eyal Alfi, veteran banker and principal of the Miami-based Pan York Group of Companies, have announced the launch of New Gables Capital, a commercial real estate direct lender that is already facilitating transactions for clients across the nation.

Fischler, a 33-year-old former Lehman Brothers executive, and Alfi, who spent 13 years in banking and commercial real estate in New York before relocating to Miami to run Pan York in 2010, created New Gables Capital to help clients find loan opportunities that are often overlooked by traditional lenders and investors or that are too small for the large institutional bank and non-bank lenders.

Headquartered in Coral Gables, Fla., New Gables Capital specializes in arranging or originating debt and equity financing between $1 million and $30 million for most property types, including condominiums, hospitality, multifamily, office, retail and land. The company has already completed over $50 million in originations. New Gables is capitalized primarily by high-net-worth individuals and family offices with commitments to fund over $100 million in 2016.

Eyal Alfi

Fischler earned a Bachelor of Business Administration in Management from the University of Miami and a Masters in Real Estate Finance with distinction from New York University. While at Lehman Brothers, Fischler managed some of the highest-profile real estate assets involved in the financial services firm's bankruptcy, including the Canyon Ranch Miami Beach and Setai South Beach properties.

“Eyal and I have discovered opportunities in the market to invest in real estate through smaller loans than most companies are focused on,” said Fischler, whose SRF Ventures has arranged or originated over $1.1 billion in financing and equity since launching in 2012. “We can execute well and achieve good returns in that space.”

Alfi, a veteran of the Israeli Air Force, earned a Bachelor of Science in Mechanical Engineering from Coventry University in Coventry, England and a Master of Business Administration from Bradford University in Bradford, England. 

Canyon Ranch Condos Miami Beach, FL

While in New York, Alfi served as Vice President at The Dime Savings Bank of New York, Vice President and Senior Loan Officer in Washington Mutual Bank’s Commercial Real Estate Lending Group and President of Investment Sales and Finance at GFI Realty Inc.

“At New Gables Capital, we are not bound by the limits of a specific product type or standardized debt and equity structures, we simply execute when it makes credit and economic sense,” Alfi said. 

“Our vast lending experience and access to private capital on the other hand allow us to act swiftly and efficiently and maximize profits for our firm and our clients.

  

Headquartered in Coral Gables, New Gables Capital is a real estate advisory firm and direct lender for transactions involving all property types for clients nationwide. The company specializes in originating debt and equity financing between $1 million and $30 million. New Gables is partially owned by SRF Ventures and the Miami-based Pan York Group of Companies.

 For more information, visit www.newgablescapital.com.

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

Ilana Tescher

Account Executive, BoardroomPR

itescher@boardroompr.com

O 954-370-8999

C 954-249-1816

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

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Morgante Wilson Architects Promotes Renata Buenrostro to Director of Architectural Interiors

Renata Buenrostro

CHICAGO, IL (May 11, 2016) – Evanston, Illinois-based Morgante Wilson Architects, Ltd., one of the country’s leading residential architecture and interior design firms, announces the firm has promoted Renata Buenrostro, 45, to director of architectural interiors.

Buenrostro joined the firm in 2000 as an architectural project manager, a position she held for four years before being named associate of architectural interiors in 2004.

“Renata is one of our veteran employees, and was the first from our staff to work exclusively on our architectural interiors team,” said Elissa Morgante, co-principal of Morgante Wilson Architects.

Elissa Morgante

“Our firm has grown exponentially in the last several years and we’ve added staff across all practice areas, so to have someone with Renata’s leadership and expertise heading up our architectural interiors group is invaluable. We’re extremely proud to see her step into this new role.”

In her new position, Buenrostro will oversee all architectural interior projects for the firm and will mentor and train new team members. 

She will also collaborate with the firm’s architectural and interior design project managers to ensure a cohesive approach to all aspects of each project. 

Buenrostro specializes in private residential work, with past projects including numerous lakefront homes on Chicago’s North Shore and in Michigan.

“What I love about architectural interiors is how special and unique each project becomes through the different elements we select, from plumbing fixtures to stone, tile, lighting fixtures, hardware, different woods and textures. 

"All these selections work together to make the rooms come alive with personality,” said Buenrostro. “I’m privileged to be leading such a talented team as we continue to create exciting spaces for our clients.”

Buenrostro was born and raised in Mexico, where she graduated from the Ibero-American University in Mexico City. She is a licensed architect in Mexico and an international AIA member. She studied History of Architecture at UIC, and Art History at the Sorbonne University in Paris.

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

Sarah Lyons, slyons@taylorjohnson.com, 312-267-4520

Kim Manning, kmanning@taylorjohnson.com, 312-267-4527

http://www.morgantewilson.com/blog.

www.morgantewilson.com.

Arbor Bolsters FHA Lending Platform with Two New Senior Executives

Jeffrey Allshouse

UNIONDALE, NY  - Arbor Commercial Mortgage, LLC (“Arbor”), a national, direct commercial real estate lender, announced the enhancement of its HUD/FHA Lending Group with the appointment of two highly tenured FHA executives in Jeffrey Allshouse, Senior Vice President of FHA Sales; and Jeffrey Ross, Senior Vice President and Chief Underwriter.

 Both Mr. Allshouse and Mr. Ross will report directly to John Caulfield, Arbor’s Chief Operating Officer.

With more than 30 years of commercial mortgage originations experience, Mr. Allshouse will be responsible for growing Arbor’s nationwide HUD/FHA loan originations platform.

Prior to joining Arbor, Mr. Allshouse held senior leadership positions at Prudential Mortgage Capital’s HUD multifamily/healthcare lending unit.  

More recently, he spearheaded HUD-insured hospital originations at Wells Fargo Multifamily Capital, engaging the firm’s first HUD 242/223f transaction. All told, in his career, Mr. Allshouse has generated more than $1 billion worth of direct loan originations and $2 billion worth of FHA originations.

Jeffrey Ross

Mr. Allshouse, who will be based out of Arbor’s Atlanta, GA office, earned his Master of Business Administration degree in Real Estate and Construction Management from the University of Denver and his Bachelor of Business Administration degree in Finance from the University of Michigan.

A 30-year commercial real estate expert, Mr. Ross will be responsible for managing Arbor's FHA multifamily, seniors housing and healthcare operational staff for Multifamily Accelerated Processing (MAP) and LEAN (seniors housing/healthcare) loan production.

He will also supervise the coordination of the Arbor FHA multifamily, seniors housing and healthcare underwriting strategy and the integration of Arbor's Bridge-to-HUD loan program.

Prior to joining Arbor, Mr. Ross worked for Wells Fargo Multifamily Capital, where he was most recently the Director of FHA Screening. Prior to Wells Fargo, he was the Chief Operating Officer and Chief Underwriter for Great Lakes Financial Group, a commercial mortgage lender specializing in FHA and Freddie Mac financing.

Mr. Ross, who will be based out of Arbor’s Cleveland, OH, office, received his Master of Business Administration degree from Baldwin-Wallace College and received his Bachelor of Science degree in Business Administration from John Carroll University.

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

Christopher Ostrowski

costrowski@arbor.com

Lincoln Property Co. Hires John Orsak as Director of Real Estate

John Orsak

PHOENIX, AZ – Lincoln Property Company (LPC) Desert West has hired industry veteran John Orsak as Director of Real Estate. Orsak brings 15 years of real estate experience to his new position, with a focus on acquisitions, dispositions, development, leasing and asset management.

Orsak previously served as Director of Operations and Project Manager at Hines, and as Senior Director Development of VanTrust Real Estate, where he specialized in uncovering value across a range of asset types. During his career, Orsak has produced revenues of more than $200 million.

“Lincoln’s Desert West portfolio is growing at a record-breaking pace,” said Lincoln Property Company’s Executive Vice President David Krumwiede. “John has the broad expertise to move our many investment and development efforts steadily and successfully forward. We’re very excited to have him as part of our team.”

Based in Phoenix, LPC’s Desert West region posted a record-breaking 2015 and continues that momentum into 2016.In the past 16 months, the office has directed more than $300 million in investment and development activity, with recent deals including the $44 million LPC/Invesco purchase of Luhrs City Center in downtown Phoenix, the $35.25 million LPC/Goldman Sachs purchase of Gainey Center II in Scottsdale, and the $34.34 million LPC/Harvard Investments purchase of Riverview Point in Mesa.

David Krumwiede

Development activity includes a late-2015 completion of the 108,000-square-foot Waypoint One office building in Mesa and Q1 2016 groundbreakings on the 152,000-square-foot Waypoint Two building and Phase I of The Grand at Papago Park Center, which at build out will total 60 acres and 3.2 million square feet of mixed-use space, including 1.8 million square feet of office space, just north of Tempe Town Lake.

Orsak holds a bachelor’s degree in Business Administration from Sam Houston State University. He is a member of the National Association of Industrial and Office Properties (NAIOP) and is the founder of Santa’s Sak, a non-profit organization that supports state-sponsored group homes and puts Christmas gifts into the hands of needy children.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

Intercontinental Acquires Large Creative Office Campus in Dynamic El Segundo, CA Market of Silicon Beach

Jessica Levin

EL SEGUNDO, CA – Intercontinental Real Estate Corporation (“Intercontinental”), a national real estate investment, development, and management firm headquartered in Boston, Massachusetts, has acquired the Apollo at Rosecrans, a recently renovated four-building creative office campus totaling 546,833 square feet of office space set on more than 13 acres in El Segundo, California.

CBRE and Kevin Shannon of Newmark Grubb  Knight  Frank represented the sellers, Invesco Real Estate and Second Street Ventures in the transaction.  The purchase price was not disclosed.

“The Apollo is a one-of-a-kind property.  We were able to source and purchase a rare gem that is the definition of the most desired office product in the Silicon Beach area of the Los Angeles market,” says Jessica Levin, Director of Acquisitions at Intercontinental.

“In addition, the asset’s location in a dense geography that provides walkability to surrounding restaurants, stores, transportation and housing options makes this precisely the environment today’s tech and creative company owners and employees are seeking.”

Following its high-end renovation, which was completed in 2015, the property has demonstrated its appeal with a remarkable 537,548 square feet already leased, bringing the asset to 98 percent occupancy in just 18 months, according to Levin.

The Apollo is situated along the Rosecrans Corridor, which is a major hotspot for the growing tech and creative companies in LA. 

Apollo at Rosecrans Office Campus, El Segundo, CA

Levin notes that the Apollo at Rosecrans is also poised for strong rent growth based on favorable market fundamentals, including positive net absorption and the lowest vacancy rates that the El Segundo office market has seen in years.

“Demand for creative office space in Westside LA is on the rise,” explains Levin. “Continuing rent hikes in neighboring markets such as Playa Vista is driving tenants to El Segundo, resulting in a vast migration of businesses to the Rosecrans Corridor. This bodes extremely well for future rent appreciation in this submarket.”

“Despite its unparalleled location and creative appeal, rents at The Apollo are considerably below market rate values based on comparable product in the surrounding areas,” Levin adds, noting that while the property commands the highest rents in the Rosecrans Corridor, the Apollo currently leases office space at a 20 percent discount to average Silicon Beach rates.

The Apollo at Rosecrans is located at 2150 Park Place, 2120 Park Place, 2121 Park Place and 2175 Park Place in El Segundo, near the I-105 and the 110 Freeways.

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

Katie Kea / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

kkea@browermillercole.com

www.browermillercole.com

www.intercontinental.net.

HFF closes sale of trophy Trader Joe’s-anchored retail center in the San Francisco Bay Area

  

Los Gatos Village Square Retail Center, Los Gatos, CA

Nicholas Bicardo

 SAN FRANCISCO, CA, May 10, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Los Gatos Village Square, a 100-percent-leased, 46,235-square-foot, Trader Joe’s-anchored retail center in the San Francisco Bay Area community of Los Gatos, California.

HFF marketed the property on behalf of an institutional seller. Donahue Schriber purchased the asset free and clear of existing debt.      

Los Gatos Village Square is located along Los Gatos Boulevard, which is the most prominent commercial thoroughfare in the city.  

The property’s infill, high barriers to entry location and outstanding demographics of the region has driven a very high rate of tenant retention and historical occupancy at the site, presenting an extremely stable cash flow.

  Anchored by Trader Joe’s, Los Gatos Village Square benefits from outstanding sales productivity from one of the most dominant grocery brands in the country.

 The HFF retail investment sales team representing the seller was led by Nicholas Bicardo, Danny Reddin and Brandon Rogoff.

“Demand for San Francisco Bay Area retail continues to be at an all-time high,” Bicardo said.  “Los Gatos Village Square generated interest from every buyer profile, both domestic and offshore. Retail properties in Los Gatos seldom come available for sale, making this a truly rare opportunity.”

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

Kristen M. Murphy

Director, Marketing

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.DonahueSchriber.com

Post Properties Announces Christopher J. Papa to Step Down as Chief Financial Officer

David P. Stockert

ATLANTA, GA --(BUSINESS WIRE)-- Post Properties, Inc. (NYSE:PPS) announced today that Chief Financial Officer, Christopher J. Papa, will be stepping down from his role, effective May 31, 2016, in order to assume the position of Chief Financial Officer of Liberty Property Trust (NYSE:LPT). Mr. Papa has served as Post’s Chief Financial Officer since 2003.

Post plans to immediately begin the search for Mr. Papa’s replacement. Until such replacement is identified, Mr. Papa’s responsibilities will be assumed by other members of Post’s senior management team, including Arthur J. Quirk, who has been Post’s Chief Accounting Officer since 2001.

Said David P. Stockert, Post’s CEO and President, “Chris has been an effective and valued member of the leadership team here at Post, and has been instrumental in shaping what is one of the strongest balance sheets in the REIT sector. We all wish Chris every success with this new opportunity.”

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

Post Properties, Inc.

Dave Stockert, 404-846-5000