HFF retained to raise capital for redevelopment of Burlington Town Center in Burlington, VT

Rendering for planned redevelopment of Burlington Town Center, Downtown Burlington, VT

BOSTON, MA, June 14, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has been retained to advise and raise the necessary financing for the redevelopment of Burlington Town Center, an enclosed shopping center located directly on the Church Street pedestrian plaza in downtown Burlington, Vermont.

Coleman Benedict

 The redevelopment will consist of more than one million square feet of mixed-use space and provide much-needed housing, revitalized street-accessible retail and Class A office space right in the vibrant heart of downtown Burlington.    

HFF was retained by Devonwood Investors, a private real estate development firm with offices in New York and Vermont.  Devonwood has spent more than two years engaging in a public process to reimagine the Burlington Town Center property.

 After numerous public and city council hearings, Devonwood was recently awarded a 10-1 City Council vote to enter into a Predevelopment Agreement with the City to facilitate the redevelopment.  The Predevelopment Agreement has now been executed by the City and Devonwood.   

Burlington Town Center was originally developed more than 40 years ago to provide a shopping destination in downtown Burlington.  More than 3.5 million annual visitors now come to Church Street in downtown Burlington.

 The redevelopment will enhance the retail and services through a revitalized enclosed and street-accessible building with Class A office, residential housing and additional parking in a streetscape environment that will improve access and “stickiness” to the area. 

Porter Terry

The retail portion of the space will be expanded to 235,000 square feet and will include a retail podium featuring restaurants, stores, cafes and service establishments facing outward to drive organic foot traffic to the rest of the project and surrounding area. 

The proposed 325,000 square feet of Class A office space is likely to be 60 percent or more preleased by major Vermont institutions and corporations, with one major commitment for approximately 110,000 square feet already obtained. 

Additionally, the redevelopment will include 310,000 square feet of residential housing that will include up to 274 market rate and affordable units. 

Negotiations are being finalized with one of the local colleges and universities on a master lease for student units. 

The HFF debt and equity placement teams representing the developer are led by senior managing director Coleman Benedict and director Porter Terry.

  

“The redevelopment of Burlington Town Center presents a generational opportunity to participate with a well-respected developer and operator to create an irreplaceable asset that will become the centerpiece of Burlington’s vibrant downtown,” said Terry. 

“The offices and residences will be steps away from beautiful Lake Champlain and just a short drive to the heart of the Green Mountains. The project will reinvigorate the shopping experience of locals and visitors and introduce a true urban mixed-use “live-work-play” environment that will be relevant for today’s downtown Burlington.”

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

Chicago-Based Renova Financial is Newest Client at Taylor Johnson

Emily Johnson

CHICAGO, IL, June 13, 2016 – Taylor Johnson President Emily Johnson announces her firm now represents Chicago-based Renovo Financial, a private lender providing loans of up to $2 million to experienced investors who acquire, renovate and manage residential properties.

Founded in 2011, Renovo Financial is one of Chicago’s fastest-growing private lenders, increasing its volume from $500,000 in lending in 2011 to a projected $150 million for 2016.  

Renovo Financial is well-capitalized through long-time equity partner Granite Creek Partners, in addition to Victory Park Capital, which recently made a $25 million commitment to increase its total investment to $75 million since 2015.

Unlike traditional lenders that can take up to 60 days to close, Renovo Financial’s structure enables it to deliver a 10-day-closing guarantee on short-term acquisition and construction loans, as well as long-term financing for rental properties.

The firm has a unique hands-on approach toward lending, with a staff that holds expertise across all disciplines, including financing, renovation and property management, and is nimble enough to provide tailored customer service throughout the life of the loan.

A team is assembled for each project loan to include third-party professionals such as attorneys, property managers, general contractors and Realtors. Renovo Financial specializes in the Chicago market, and has an expanding network of capabilities in other major cities.

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

Julie Liedtke at Taylor Johnson at (312) 267-4521 or jliedtke@taylorjohnson.com.

Easton & Associates Arranges Nearly 158,000 Square Feet of Leases

Michael Waite

DORAL, FL, June 13, 2016— Easton & Associates, a brokerage division of The Easton Group, announces the following new leases:

Structural Evaluation Technologies leased 40,000 square feet of industrial space at 5800 Miami Lakes Drive in Miami Lakes. The landlord is Seagis Lakeway. Mike Waite and Jim Armstrong managed the lease on behalf of Easton & Associates.

U.S. Pipe Fabrication LLC leased 28,873 square feet of warehouse space at 9350 124th St. in Miami. The landlord is Sandbern, Inc.  Mike Waite and Jim Armstrong of Easton & Associates represented U.S. Pipe.

HDPC Distributors LLC leased 25,000 square feet of industrial space at 16492 NW 48th Ave. in Miami Gardens. Mike Waite and Jim Armstrong of Easton & Associates represented the landlord, Salcum Shutters Investments, LLC. 

Goodman Distribution, Inc. expanded its lease at 13856-13860 SW 119th Ave. in Miami taking on 22,240 square feet of industrial space. Mike Waite and Jim Armstrong of Easton & Associates represented the landlord, Seagis Deerwood LLC. 

Jim Armstrong

Lioher Enterprise Corporation leased 18,005 square feet of industrial space from CFFI Miami Lakes LLC at 5820 NW 163rd St. in Miami Lakes. Tom Kimen of Easton & Associates represented the tenant and Carlos Velasquez from the Vivo Group represented the landlord.

Malo Dance Productions renewed its lease for 12,039 square feet of industrial space at 2216 NW 87th Ave. in Miami. Mike Rice and David Olalde of Easton & Associates represented the landlord, American’s Gateway Business Center. Aleman Realty LLC represented Malo Dance.

Quest Events, LLC leased 11,500 square feet of office space at 5031 Hiatus Road in Sunrise. Andrew Easton and Jeremy Myers of Easton & Associates represented the tenant. JLL represented the landlord, 5031 Hiatus Road, Sunrise.    

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

Todd Templin, BoardroomPR

ttemplin@boardroompr.com

954-370-8999/954-290-0810

Berger Commercial Realty Arranges Leases Totaling Nearly 25,000 Square-Feet at the Enterprise Commerce Center in Deerfield Beach, FL

John Forman

FORT LAUDERDALE, FL (June 13, 2016) - Berger Commercial Realty brokers John Forman and Keith Graves recently represented Mancini & Sons Florida #2, LLC in leasing 24,971 square-feet of space to tenants in two buildings at the Enterprise Commerce Center in Deerfield Beach. 

At 1901 Green Road, the brokers leased 9,820 square-feet of industrial space to Magellan Aircraft Services, LLLP in bay F and 9,290 square-feet of industrial space to Sinobec Resources, LLC in bay E. Located within minutes of I-95, Florida's Turnpike and the Sawgrass Expressway, the 76,381-square-foot building offers frontage on Wiles Road, wrap-around glass front facades, 24-foot ceilings and tilt-wall concrete construction.

Within the 19,620-square-foot Enterprise Commerce Center building at 5051 N.W. 13th Avenue, less than one mile east of its larger counterpart, the brokers leased 5,861 square-feet of industrial space to Boca Health & Fitness, LLC in bays A, B and C. The class A warehouse and flex property features ample parking, 18-foot ceilings, glass front facades and overhead drive-in shipping doors.

For more information about Berger Commercial Realty's leasing services, call 954-358-0900.

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

954-776-1999

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

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

Amdocs, Inc. Signs 36,891-Square-Foot Lease Renewal and Expansion in Alpharetta, GA

Hunter Henritze

ATLANTA, GA (June 13, 2016) – Amdocs, Inc. has signed a 1,901-square-foot lease expansion at 600 Northwinds, a Class A office building located in Alpharetta, Georgia. 

In conjunction with the expansion, Amdocs, Inc. has also renewed its existing 34,990-square-foot lease, and now occupies 36,891 square feet at the building.

Michael Howell and Hunter Henritze of Lincoln Property Company Southeast (Lincoln)  represented the landlord, Equity Office, in the transaction. Pete Shelton of Colliers International represented the tenant.

“With nearly 800,000 square feet of net absorption in 2015 and almost 100,000 square feet of net absorption in the first quarter of 2016, the Class A vacancy rate in North Fulton has dropped below 12 percent and is trending towards single digit vacancy,” Howell said. “With unrivaled accessibility to GA 400 and a robust mixed-use environment, Northwinds Office Park is the premier office campus in North Fulton.”

600 Northwinds is a six-story, 148,058-square-foot office building located at 11675 Rainwater Dr. within Northwinds Office Park a 258-acre mixed-use development featuring two hotels, four banks, nine restaurants, two newly renovated fitness facilities, a daycare/learning facility and six free conference/training facilities.

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

Savannah Durban

The Wilbert Group

404-343-0870

sdurban@thewilbertgroup.com

BLT Enterprises Acquires Four-Building Office, Flex and Industrial Portfolio in Orange County, CA from Cordia Capital Management

Katie Kalvoda

ORANGE COUNTY, CA (June  13, 2016) –  BLT Enterprises, a multi-faceted commercial real estate investment company,  has acquired a four-building office, flex and industrial portfolio encompassing 170,447 square feet and spanning four Orange County cities from Cordia Capital Management, a leading private real estate investment firm based in Los Angeles. 

Cordia has a long history of investing in the Orange County market and has accumulated a significant portfolio comprised of institutional quality office, retail, industrial and multifamily assets throughout California and the Western United States.  

“We are pleased to make the sale at a time when capital markets are favorable to us and look forward to reinvesting the proceeds into strategic opportunities elsewhere,” says Katie Kalvoda, Chief Investment Officer of Cordia Capital Management.

BLT acquired the portfolio for $28 million or $164 per square foot.  The assets, which encompass an estimated total of 11.19 acres, are 100 percent occupied and strategically located in growing infill markets with immediate access to major Southern California freeways, according to Bernard Huberman, Founder and President of BLT Enterprises.

Bernard Huberman

“The Orange County market is primed for long-term economic growth, and we see a significant opportunity for value creation here,” Huberman says.  “This diverse portfolio is well-aligned with BLT Enterprises’ strategy to acquire and develop properties in prime locations near major transit corridors.” 

            BLT focuses on long-term holds and active asset management, according to Huberman, who notes that the firm employs a “lifetime landlord” approach to each of its owned assets.

            “As an owner, we focus on relationships,” Huberman says.  “We remain flexible with tenant needs, and work to ensure that companies that lease with BLT want to lease with us forever.  That focus will remain a top priority in these Orange County assets.”

            According to Robert Vincent, Asset Manager at Cordia Capital Management, the four-building portfolio is currently leased to large national companies including Securitas Security Services USA, which is publicly traded with annual revenues of $4.3 billion, as well as Ambry Genetics, Compass Group USA, and Exhibitree.

            “Our ability to attract and retain these high caliber tenants created a strong opportunity to capitalize on growing investor demand for quality, stabilized product in this region,” says Nick Nikoghosyan, Vice President of Investments and Portfolio Management at Cordia.  

Robert Vincent

               During its three decades of ownership, Cordia has seen the Orange County market evolve from agricultural fields and nascent beach towns to become a robust driver of the Southern California economy.  

At the helm of Cordia Capital Management, Chief Investment Officer, Katie Kalvoda, recounts, “We were early investors in Orange County.  Even during the worst cycles of the last 30 years, Cordia has been able to maintain our competitive advantage and achieve 100% occupancy.  

"This transaction is an example of our ability to be a leader in identifying growth markets and generating superior long term returns.” 

The transaction was brokered by Kurt Bruggeman and Ryan Swanson of Lee & Associates, who represented BLT Enterprises as the buyer, and Jeff Chiate, Jeff Cole and their team at Cushman & Wakefield, who represented Cordia Capital Management as the seller. 

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

dugland@browermillercole.com

Real Estate Companies Completes Sale of Single-Tenant Home Depot in Henderson, NV for $23 Million

  

Home Depot, 1030 West Sunset Road, Henderson, NV

Douglas Beiswenger

HENDERSON, NV – LBG REAL ESTATE COMPANIES, LLC (LBG), a Southern California-based investor in retail real estate, in partnership with Aviva Investors Real Estate Capital Partners I-A, LP, announce that they have completed the sale of a prime, single-tenant net-lease property in Henderson NV to an undisclosed buyer at a sale price of $23,162,717.

The sale of the property was brokered by Chris Kostanecki and Dave Lucas of Capital Pacific in Las Vegas, NV.

The property is prominently located within the Sunset Plaza Shopping Center at 1030 W. Sunset Road, near Interstate 515, and contains approximately 102,370 square feet of building area on 9.07 acres.

 Built in 1992, the property is surrounded by many leading national retailers, which provides a strong consumer draw to the intersection. These include a Walmart Supercenter, Kohl's, and Forest City’s highly successful Galleria at Sunset super-regional mall.

LBG acquired the Home Depot-leased property in December of 2012. The plan going into the purchase was to extend the base lease term of the Home Depot. LBG was able to perform a “blend and extend” to stabilize the asset for the long-term and add value to the property.

David S. Goldman

LBG is led by principals’ Douglas Beiswenger, David Goldman, and Leslie Lundin.

Commenting on the property, Lundin said, “Knowing that Home Depot would not vacate the property based on LBG’s knowledge of the Henderson retail market and available developable land in the submarket that would be suitable for Home Depot, this acquisition provided a unique opportunity for LBG to acquire a strong single-tenant property on a short-term below-market-rent lease and do a ‘blend and extend’ to create value."

Goldman added, “In late 2012, the retail market in Las Vegas was turning up and we knew that this prime property and core market would only continue to improve in the years to come. 

"We also believed that the building in this A+ location could be easily re-tenanted, potentially under even more favorable economics, if Home Depot decided to vacate in five years.”

“In 2012, we saw improvements in the Las Vegas market but remained very concerned about its housing market crash,” said Russ Bates, head of the Americas of the Global Indirect Real Estate team of Aviva Investors. 

“Through our joint venture program, which allows us to partner with best-in-class operators, we partnered with LBG to acquire a mismanaged retail asset with an outstanding tenant and located in an excellent, mature retail market.

Leslie Lundin

" This combination of purchasing at a deep value, earning solid cash flow and strong management by our partner led to great results.”

For more Information, contact:

David Goldman

Managing Partner

LBG Real Estate Companies, LLC

11150 Santa Monica Boulevard, Suite 770

Los Angeles, CA 90025

O 310-235-0444 x15

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

Anne Monaghan

Monaghan Communications

830.997.0963

 anne@MonaghanPR.com

www.lbgfunds.com

HFF arranges $25.991 million in construction financing for Loveland, CO office building

  

Eric Tupler

DENVER, CO, June 10, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $25.991 million in construction financing for the development of Rangeview V, a 120,000-square-foot, single-tenant office building in Loveland, Colorado.

HFF worked on behalf of the borrower, RVABTS, LLC, an affiliate of McWhinney, to secure the floating-rate loan through Vectra Bank (Zion’s Bancorp). The loan has a term of two years with one 12-month extension option.   

Due for completion in June 2017, Rangeview V is a Class A office building located at Centerra, an award-winning, 3,000-acre master-planned community in Loveland.

 The building is fully leased to Agrium, Inc., a major distributor of crop inputs and services in North America, South America and Australia, and a leading global producer and marketer of agricultural nutrients.

Agrium currently houses 800 employees in Rangeview buildings I-IV, and with the addition of Rangeview V, will consolidate a large portion of its U.S. and North American operations to this location with an expanded capacity of up to 1,200 employees.

Brock Yaffe

Designed by the architectural firm RNL, Rangeview V will feature outdoor patios and balconies with lakefront and mountain views, 11’ ceiling heights, a landscaped plaza and parking for 600 vehicles.

The four-story property will be situated along the shores of Houts Reservoir and Equalizer Lake with convenient access to Interstate 25. This location, approximately 55 miles north of Denver, is within close proximity to the Fort Collins/Loveland Airport and Colorado State University, one of the leading agricultural schools in the country and a large recruitment base for Agrium.

“The HFF team again provided added value to the debt placement process and Team Vectra provided a strong debt structure, meeting our expectations within our timeframe - we look forward to expanding our relationship with both HFF and Vectra going forward,” said Joshua Kane, VP of Finance for McWhinney.

The HFF debt placement team representing the borrower was led by senior managing director Eric Tupler and associate director Brock Yaffe. 

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

Marcus & Millichap Arranges $3.71 Million Sale of 36-Unit St. Andrews Square Apartments in Tampa, FL

Francesco P. Carriera

TAMPA, FL, June 10, 2016 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of St. Andrews Square Apartments, a 36-unit apartment community located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $3,715,000.

Francesco P. Carriera and Michael P. Regan, both first vice president investments, and Nicholas Meoli and Michael Donaldson, both vice president investments, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust.  

The buyer, a private investor, was secured and represented by Donaldson, Meoli, Joshua Teplitzky, senior associate, and Cameron Barbas, associate, all in the firm’s Tampa office.

“This was a highly competitive marketing process with offers submitted from buyers in California, New York and Miami amongst others, which led to the property closing over list price,” says Teplitzky.

“We received seven offers in less than a month of marketing which allowed us to achieve a sales price that once again set a new high price per unit within a given submarket,” added Barbas.

Michael P. Regan

St. Andrews Square Apartments is a 36-unit multifamily community centrally located in Tampa at 4113 Tartan Place within the highly desirable Carrollwood/Citrus Park submarket, which had a 7.9 percent rental growth over the past 12 months. 

The property is situated on an approximately 6.93 acre site and is comprised of six, two-story residential buildings.

The buildings consist of 36 two-bedroom/two-and-a-half-bathroom townhomes with 1,250 rentable square feet. St. Andrews Square is within minutes of the Westshore Business District with over 100,000 employees and the International Mall featuring 200 stores and 15 restaurants.

“The townhouse units were renting substantially under market, but were increased by $200 per floor plan at the time of sale,” Teplitzky said.

“There is a lot going on in the Tampa MSA in regards to developments, jobs and entertainment which is exciting residents to live here and inherently leading to higher occupancy and high rental rates across the MSA. Investors from around the country and internationally continue to identify Tampa as a strong city to invest in,” concluded Barbas.

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

Richard D. Matricaria

First Vice President / Regional Manager

Tampa, FL

Chatham Lodging Announces Monthly Dividend

  

WEST PALM BEACH, FL, June 10, 2016—Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels and owns 133 hotels wholly or through joint ventures, today announced that its board of trustees has declared a monthly common share dividend of $0.11 for June 2016.  The common dividend is payable July 29, 2016, to shareholders of record on June 30, 2016.

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

Patrick Daly

Office Manager

Daly Gray, Inc.

patrick@dalygray.com

Office:  (703) 435-6293

Cell:  (703) 300-8289

TRYP by Wyndham Brings Mediterranean to the Marina with New Lifestyle Hotel in Ft. Lauderdale, FL

Chip Ohlsson

PARSIPPANY, N.J. (June 9, 2016) – TRYP by Wyndham, Spanish-born brand and lifestyle hospitality trendsetter, is bringing its unique urban twist to Fort Lauderdale with the TRYP by Wyndham Maritime Hotel, the brand’s first hotel in Florida and third in the U.S.

The 150-room, new construction hotel is managed by Florida-based Innisfree Hotels and owned by Taplin Development Company, the successful developer of more than 2,500,000 square feet of luxury apartments, landscape design projects, and mixed use developments. The hotel is expected to open in March 2017.

TRYP by Wyndham offers an insider’s look at the most exciting cities in the world and Fort Lauderdale is no exception. The city is a flourishing travel destination thanks to the increased popularity of its growing airport, cruise port and convention centers.

TRYP by Wyndham Maritime Hotel will embrace the essence of the surrounding marina, sporting a nautical design including elements inspired by local marine life and the cruise ships that grace its shores every day.

“TRYP by Wyndham is unlike any other lifestyle brand, appealing to international travelers and fascinating U.S. guests experiencing it for the first time,” said Chip Ohlsson, Wyndham Hotel Group’s chief development officer. “It offers travelers a lifestyle experience completely unique to Fort Lauderdale, backed by the power of the world’s largest hotel company and one of the area’s most successful developers.”

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

Gabriella Chiera

Wyndham Hotel Group

22 Sylvan Way,

Parsippany, NJ, 07054

(973) 753-6590

Gabriella.chiera@wyn.com

www.wyndhamworldwide.com.

Charles Dunn Co. Completes Sale of Retail Property Occupied by Wendy’s in Canoga Park, CA

Kyle Gulock

LOS ANGELES, CA, June 9, 2016 – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $2,975,000 sale of a 3,139 square-foot, single-tenant, NNN-leased property occupied by Wendy’s in Canoga Park, Calif.

Kyle Gulock and Jason Cope of Charles Dunn Company represented the buyer, a private investor from Orange County. 

The seller, a private investor from Los Angeles, was represented by Sands Investment Group. The transaction closed at a capitalization rate of 5.87 percent and sold for $948 per square foot.

“We represented the buyer on the ‘down leg’ sale of a net leased investment property earlier this year and this acquisition satisfied its 1031 exchange,” said Kyle Gulock. 

“The purchase of the Wendy’s occupied asset provided our client with a stable investment, that offered greater cash flow, and a longer lease term in place. The buyer plans to hold this property long term.”

Built in 2001, the property is located at 8232 De Soto near the major cross street of Roscoe Blvd. The property sits on an infill Los Angeles location with ideal demographics for a fast food restaurant.

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

Darcie Giacchetto

949.278.6224

www.charlesdunn.com

Michael Breclaw Joins FitzGerald Associates Architects in Chicago, IL

Michael Breclaw

CHICAGO, IL (June 9, 2016) – FitzGerald Associates Architects, a leading national residential and commercial design firm, announced that award-winning industry veteran Michael Breclaw, AIA, LEED AP, has joined the firm as associate principal.

Breclaw has more than 25 years of experience as a design professional and has led design on a wide variety of projects, including large-scale retail and mixed-use developments, multifamily and student housing, and corporate and governmental/institutional complexes.

Among his significant projects are the mixed-use developments of Uptown Park Ridge in Park Ridge, Ill., and NEWCITY in Chicago’s Lincoln Park neighborhood, both of which have won Urban Land Institute Chicago’s Vision Award. Breclaw also led the design of Motorola’s former campuses in Libertyville and Harvard, Ill.

“The value Mike adds to our team cannot be overstated,” said Pat FitzGerald, chairman and managing principal of FitzGerald Associates Architects. “His considerable design experience in mixed-use and transit-oriented development is a natural fit with our firm’s core services.

Further, his deep knowledge of retail, student housing and institutional design will allow us to expand service to our clients as they grow their businesses and explore new design options for their developments.”

Prior to joining FitzGerald on June 1, Breclaw worked at Chicago-based OKW Architects as principal and director of design for more than 14 years.

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

John Holden, jholden@taylorjohnson.com, (312) 267-4538

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

Marcus & Millichap Arranges $1.36 Million Sale of 12-unit The Vendome Apartments in Tampa, FL

Cameron Barbas

TAMPA, FL, June 9, 2016 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of The Vendome, a 12-unit apartment building located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $1,366,500.

Cameron Barbas, associate, Francesco P. Carriera, first vice president investments, and Michael P. Regan, first vice president investments, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, also was secured and represented by the three brokers. 

The Vendome is located at 1710 West Jetton Avenue in the highly desirable Old Hyde Park submarket, and is approximately five blocks northwest of the beautiful Bayshore Boulevard.

 The property consists of one, two-story building comprised of 12 one-bedroom/one-bathroom units with 800 rentable square feet. The building sits on an approximately 0.17 acre parcel of land. Hyde Park Village and the South Howard District are both within a five minute walk from the Vendome providing residents with ample shopping and leisure activities, which includes L.A. Fitness, Publix Green Wise, Winn-Dixie, a movie theater, a multitude of boutique and national retail stores and multiple local restaurants.

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

Richard D. Matricaria

First Vice President / Regional Manager

Tampa, FL

(813) 387-4700

Fifield Realty Corp. Names Randy Fifield Chairwoman, Kevin Farrell President

  

Randy Fifield

CHICAGO, IL (June 9, 2016) – Fifield Realty Corp., one of the nation’s leading multifamily developers, today announced it has promoted Randy Fifield to the position of chairwoman, while Kevin Farrell was recently named president.

“With projects taking us from Los Angeles to Austin and, of course, many in our hometown of Chicago, this is one of the most active and exciting times in Fifield’s history and it’s an honor to have such driven and esteemed individuals leading the way for us,” said Steve Fifield, chairman of Fifield Cos., parent company of Fifield Realty Corp. 

As chairwoman of Fifield Realty Corp., Randy Fifield will oversee the design, marketing and execution of Fifield’s apartment projects in Chicago and Austin, Texas, along with those in Los Angeles with its sister company, Century West Partners.

Kevin Farrell

Since joining the firm in the 1990s, Randy Fifield has led the rapid growth of Fifield’s multifamily division and, alongside Steve, spearheaded the delivery of more than 3,000 luxury apartment units across the country.

Actively involved in all stages of the development process, she is currently managing the completion of four luxury rental projects comprising 1,492 units, all of which are set to deliver by the end of 2017.

They include NEXT, a 310-unit tower in Chicago’s River North neighborhood; The Sinclair, a 390-unit, transit-oriented mixed-use development in Chicago’s Gold Coast neighborhood; NEXT on Lex, a 494-unit complex in Glendale, Calif.; and NEXT on Sixth, a 398-unit community in Los Angeles. She also produces Randy Fifield Modern Living, a lifestyle blog.

“Randy’s passion and resolute vision that the luxury apartment market was the ‘next big thing’ in real estate has driven the Fifield Cos. to an unprecedented level of success,” said Steve Fifield.

 “Her foresight and understanding of the market has been vital to that success – from her innovative use of Designer Showcases to create buzz around our projects to the high-end unit finishes, luxury amenities and convenient work-from-home features that are hallmarks of our buildings. She is a masterful communicator and multi-tasker whose determination and leadership will take Fifield Cos. well into the future.

“I am in constant awe of her energy and enthusiasm,” he added. “She’s a champion of women in the commercial real estate field and the best partner I could have in business – and life.” 

Steve Fifield

A Northwestern University graduate, Randy Fifield serves on the boards of the Prentice Women’s Hospital and the Ann & Robert H. Lurie Children's Hospital of Chicago.

  

In his new role as president, Kevin Farrell will manage Fifield Realty Corp.’s national apartment acquisition program as well as its new construction and adaptive reuse projects in Chicago and Los Angeles.

Prior to joining Fifield in 2008, Farrell was a vice president at Related Companies, where he managed rental and for-sale residential development projects, including Roosevelt Square, a 2,400-unit mixed-income residential community on Chicago's Near West Side.

“I have worked with Kevin on and off for more than 30 years and feel privileged to have his expertise in acquisitions, development and construction as part of the Fifield family,” said Steve Fifield.

“It’s been very rewarding to watch him rise from a construction manager on the Fifield team during the 1980s to successfully leading our West Coast expansion with the creation of Century West Partners, which today has more than 2,300 units in various stages of development in the Los Angeles area. I look forward to seeing where his next chapter takes Fifield Cos.”

Farrell holds an MBA from the Illinois Institute of Technology and bachelor’s degree in civil engineering from the University of Illinois at Urbana-Champaign. Farrell recently served on the city of Chicago's Green Urban Design Task Force.

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

Lehia Franklin Acox, lfacox@taylorjohnson.com, (312) 267-4511

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

www.fifieldco.com.