HFF closes sale of three Albertsons grocery stores in Nevada and Oregon

Albertsons-occupied buildings, Henderson, NV and Baker City, OR

Nick Foster

NEWPORT BEACH, CA – September 19, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of three single-tenant retail buildings fully occupied by Albertsons and totaling 161,493 square feet in Henderson, Nevada, and Baker City, Oregon.

HFF marketed the properties on behalf of the sellers, HH Property North, LLC and HH Property South, LLC.  ValueRock Realty Partners out of Irvine, California, purchased the assets at an undisclosed price

All three properties are leased to Albertsons on a long-term triple net lease basis.  The Nevada assets comprise a 58,254-square-foot building located at 190 North Boulder Highway and a 55,000-square-foot building located at 2910 Bicentennial Parkway. 

Both centers are part of larger shopping centers in Henderson, a community southeast of Las Vegas.  The Baker City Albertsons building is 48,239 square feet and located at 1120 Campbell Street. 

For the Nevada acquisitions, the HFF investment sales team representing the seller was led by Nick Foster in conjunction with local Nevada broker David Zacharia of DZ Net Lease Realty, LLC. 

Mark West

For the Baker City acquisition, the HFF investment sales team representing the seller was led by Nick Foster, Mark West and Nick Kassab.

 “We continue to see a strong appetite for big box retail leased to national-brand grocers,” Foster said.  “Since 2015, our team has sold more than 50 single-tenant grocery stores across the western U.S.  We have been fortunate to find quality buyers who understand the lasting appeal of these daily needs operators.”

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

Kristen Murphy

Director, Marketing

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

tel 617.848.1572 | fax 617.338.2150 | www.hfflp.com

krmurphy@hfflp.com

Wyndham Boosts Growing Footprint with Historic Colorado Springs Hotel

  

The Antlers Hotel, Colorado Springs, CO

  

PARSIPPANY, NJ – Hospitality giant Wyndham Hotel Group announced the opening of The Antlers, A Wyndham Hotel, in Colorado Springs, Colo., the latest addition to the company’s namesake Wyndham Hotels and Resorts® brand.

The Antlers, A Wyndham Hotel, owned by hoteliers John Goede and Perry R. Sanders, Jr., is in the final phase of a comprehensive renovation transforming the hotel’s 273 guest rooms and suites, lobby, restaurants, and more than 27,000 square feet of extensive meeting and event space accommodating over 2,000 people.

Perry R. Sanders

Situated in the heart of Colorado Springs, a city recently named one of the best family vacation spots in the United States by U.S. News & World Report, the upscale hotel offers spectacular views of Pike’s Peak and the Rocky Mountains and is a short walk from local shops, restaurants and museums.

Its opening increases Wyndham Hotel Group’s presence in the Colorado Springs area to 15 hotels, including The Mining Exchange, A Wyndham Grand Hotel, also owned by Goede and Sanders.

Wyndham Hotels and Resorts make travel extraordinary with personal, thoughtful touches, connecting with guests by delivering comfort that exceeds expectations with the tailored services and amenities expected at a first-class hotel.

“With more than five million visitors annually, Colorado Springs is an increasingly popular destination for U.S. travelers, making it a perfect addition to Wyndham’s growing portfolio of city-center and vacation destinations,” said Chip Ohlsson, Wyndham Hotel Group’s chief development officer for North America.

Chip Ohlsson

“We’re focused on bringing this brand to new markets by partnering with established owners like John, Perry and their management team. Their leadership, combined with the strength of the Wyndham name, will undoubtedly deliver extraordinary travel experiences to guests who stay with us at The Antlers, A Wyndham Hotel.”

Celebrating the area’s distinct landscape and local culture, the second phase of the hotel’s transformative renovation includes a new rooftop pool and bar with direct views of Pike’s Peak; a lobby bar with 100 beers showcasing local Colorado micro brews and 100 Colorado craft spirits; and dinner service at the new Antlers Grill, home to local Colorado fare.

Additional offerings will include a rooftop garden and apiary, a new Italian restaurant, a 24-hour fitness center and an indoor pool and hot tub.

The Antlers, A Wyndham Hotel, is the latest hotel to join the global Wyndham brand, which consists of nearly 100 locations in major urban and resort destinations around the world. Earlier this year, Wyndham Hotel Group announced the signing of the first Wyndham hotel in Africa, Wyndham Addis Ababa Bole Road in Ethiopia, as well as the brand’s first Vietnam location, slated to be the tallest building in Danang.

The Antlers first opened in 1883 by the founder of Colorado Springs, General William Jackson Palmer, and housed the General’s large and envied collection of hunting trophies. Then known as “Little London” because of the multitude of English tourists to the hotel, it featured modern conveniences of the time including a hydraulic elevator, central steam heat and gas lights. The hotel was rebuilt in 1901 following a fire and again in 1967, still standing today in its original location.

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

Kathryn Zambito

Wyndham Hotel Group

22 Sylvan Way

Parsippany, NJ  07054

(973) 753-6590

kathryn.zambito@wyn.com

Real Estate Capital Institute Finds Mortgage Markets Behaving Like Musical Chairs With Liitle Rate Movement

Jeanne Peck

Chicago, IL -- Chicago-based Real Estate Capital Institute reports "The Song Remains the Same" is the

musical theme for mortgage markets during this heated pre-election season.

Markets behave more like musical chairs, with little movement in rates.  As

the economy rises towards full employment, few politicians and Fed

policymakers fear making any serious economic changes for now.  Even with

inflation concerns, expect the Fed to respond with rate hikes gradual and

most likely next year.

Borrowers are not concerned about an imminent, material increase in long

term rates but they ARE motivated to refinance off their long term

financings locked in from 2005-2007 so some are still looking to close this

year to achieve significant interest rate savings; at the very least they

are closely tracking the dates of their "prepay at par" clauses in the

documents.  They are mixed with preferences between floating rate and fixed

rate structures.

Otherwise, not much excitement, other than mortgage money pricing remains

low. With the exception of a mid-month spike, benchmark treasuries moved

down modestly, settling at about the same levels as the beginning of the

month. Longer-term mortgages range stay in the 3%+ range, while shorter term

rates start in the mid-2% range - a relatively tight yield curve between

various maturities.  Other trends include:

*    Renewed conduit investor activity helps the industry regain ground -

AAA credit components priced in the low 100 bps range over treasuries.

*    Rate "tweaking" not as important with many borrowers given the

already low levels.  More emphasis on other underwriting variables

(prepayment, leverage, debt coverage, etc.)

*    Maximum leverage loans still available from agencies, and more life

insurance companies team up with mezzanine providers for higher proceeds.

*    FHA/HUD multifamily funding programs continue providing higher

leverage construction/perm debt, even as banks pull back from maximum loan

amounts within this sector.

Ms. Jeanne Peck, director of The Real Estate Capital Institute(r), advises,

"Markets are on a steady course for the remainder of the year, irrespective

of who takes control of the White House.  Still a great time to borrower

money."

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

 Jeanne Peck, Executive Director

director@reci.com

www.reci.com

ATTOM Data Solutions Finds Homeowners Ahead in Democrat-Controlled Congressional Districts

IRVINE, CA -- ATTOM Data Solutions analyzed homeowners living in Democrat-controlled congressional districts have gained more than twice as much in housing wealth as homeowners living in Republican-controlled districts over the past eight years.

Highlights in the report:

 ·         Among 2.4 million single family homes purchased eight years ago, those in Democrat-controlled districts have gained an average $59,467 in value since purchase — a 21 percent return — compared to a $22,086 return representing a 10 percent ROI for homes in Republican-controlled districts.

·         Homeowners in Republican-controlled districts are paying lower property taxes — $2,514 on average representing a 1.02 effective tax rate compared to $3,659 representing a 1.07 percent tax rate for homeowners in Democrat-controlled districts.

·         Counter to the national trend, seven of the 11 battleground states in the 2016 presidential election have produced better ROI for homeowners in Republican-controlled districts.

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

jennifer.vonpohlmann@attomdata.com

29th Street Capital Acquires Seventh Houston Area Multifamily Community

Javier Bustillo

Houston, TX – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Clear Lake Condominiums, a 284-unit multifamily rental community in Webster, Texas.

The transaction represents 29SC’s seventh acquisition in the greater Houston market. The firm’s strategy will be to invest approximately $2 million into renovations to upgrade unit interiors, enhance the property exterior and add or update key resident amenities. The firm will rebrand the community as Barringer Square Apartments.

The property is in Webster, Texas, a submarket of Southeast Houston. It is located on Galveston Road between NASA’s Johnson Space Center and Ellington Airport, which has federal approval to become the nation’s first truly urban spaceport.

 The spaceport, which could open in two years, includes plans for an aerospace and innovation hub. The apartment community is also minutes from Baybrook Mall – just across I-45 – which recently added 500,000 square feet of high-quality retail space.

“We are extremely excited about this acquisition,” said Javier Bustillo, 29SC’s Senior Vice President of Acquisitions for Texas and Georgia. “We feel that this is a very unique community in a great submarket and we are eager to implement our value-add strategy immediately.”

29SC plans to invest approximately $7,000 per unit in capital to improve the asset. Interior unit upgrades will include new stainless steel kitchen appliances, cabinets, countertops, backsplashes, flooring and fixtures.

Stan Beraznik

  Key exterior improvements will include new roofing, siding and fresh paint as well as façade repairs. The firm also plans to improve the resident experience by overhauling the leasing center and clubhouse, adding a playground for families with children, creating covered outdoor grilling areas and constructing a large dog park.

The transaction closed September 30. The sale price was not disclosed.

29th Street Capital has acquired 15+ multifamily assets over the past 12 months in markets including Phoenix, Arizona; Denver, Colorado; Chicago, Illinois; Austin, Texas; and Oakland, California. 

It is also actively pursuing additional opportunities throughout the U.S. The firm continues to target opportunities that fall below the institutional radar, with the intention of offering its investors above-market returns.

For investment inquiries, contact:

Stan Beraznik, Founder and Managing Principal at 29th Street Capital

415.643.6875 | sberaznik@29thstreetcapital.com

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

http://www.facebook.com/pages/Thornton-Communications/112101288827299 http://twitter.com/Ttho http://www.linkedin.com/in/TerriThornton Terri Thornton

Partner, Thornton Communications

Phone: 404-932-4347

Email: Terri@TerriThornton.com

Website: www.TerriThornton.com

www.29thstreetcapital.com.

Shopoff Realty Investments Acquires Two Loft Commercial Buildings in Chicago

. 

 

William Shopoff

 CHICAGO, IL (Oct. 5, 2016) – Shopoff Realty Investments, a national manager of opportunistic and value-add real estate investments, announced today that the company has acquired two creative loft commercial buildings in premier Chicago neighborhoods. 

In line with the company’s strategy, there is a possibility of the addition of a co-investor in the near future.

The properties are located at 900 N. Franklin Street and 224 N. Desplaines Street in the River North and West Loop neighborhoods, respectively. 

The 900 N. Franklin Street building is a 87,270-square-foot creative, loft office space with outstanding views, close to restaurants and retail establishments. As of the date of the acquisition, the occupancy rate is 89 percent.

The 224 N. Desplaines Street building is a 76,729-square-foot creative, loft office space boasting excellent views and modern amenities in the booming West Loop neighborhood that is close to some of Chicago’s best restaurants and bars. As of the date of the acquisition, the occupancy rate is 92 percent.

David Placek

“Both properties are located in prestigious Chicago neighborhoods and currently renting at 30 percent below market rates,” said William Shopoff, chief executive officer of Shopoff Realty Investments.

“There is a shift by employers moving away from traditional office spaces in the Chicago suburbs to more open, creative-style offices with character downtown,” said David Placek, executive vice president of Shopoff Realty Investments. 

“With limited loft-style office inventory available, our plan is to focus on interior improvements and updates with the intention of stabilizing rents at current market rates.” 

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

Jill Swartz

Spotlight Marketing Communications

949.427.5172, ext. 701

jill@spotlightmarcom.com

www.shopoff.com

 or call (844) 4-SHOPOFF.

$3 Million Loan on Winter Park, FL Industrial Property Arranged by Marcus & Millichap Capital Corp.

Robert Bhat

WINTER PARK, FL – Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has arranged a $3 million non-recourse loan secured by a small-bay industrial property located in Winter Park, Fla. 

Robert Bhat, a director in MMCC’s Miami office, arranged the debt placement.

“The borrower, who specializes in value-add, small-bay industrial projects, acquired this property back in 2014 when it had minimal occupancy.  Shortly after they renovated and stabilized the property, we were able to secure a loan with attractive terms,” says Bhat.

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

Kirk A. Felici

First Vice President/Regional Manager;

Miami Office

786-522-7000

Grandbridge's Adam Lipkin Closes $19 Million in Financing for New York Investor

                                                                                

 

Adam Lipkin

MIAMI, FL and CHARLOTTE, NC. (Oct. 4, 2016) — Adam Lipkin, vice president of Grandbridge Real Estate Capital's Miami team, has secured three loans totaling $18.75 million for a New York-based investor’s acquisition of three retail properties in the Southeast.

The financing provided to Big V Capital is an example of how a third-party advisor like Grandbridge can facilitate creative financing solutions and obtain extremely favorable terms for value-add investors.

Led by Lipkin, Granbridge placed the loans with a major regional bank. The five-year loans have floating rates of under 3 percent with two years interest-only, followed by a 25-year amortization schedule.

A vertically integrated real estate investment and property management company, Big V Capital specializes in buying and managing neighborhood and community shopping centers throughout the Southeast. The company acquired the three shopping centers totaling 457,695 square feet for $24 million (or $52 per square foot) from Ziff Properties, Inc. of Charleston, S.C.

Lanier Plaza, Brunswick, GA

The portfolio includes the following properties:

·             Village at Myrtle Grove, a 74,370-square-foot community shopping center located in Wilmington, N.C.

·             Lancer Center, a 180,194-square-foot community shopping center located in Lancaster, S.C.

·             Lanier Plaza, a 203,876-square-foot grocery-anchored community shopping center located in Brunswick, Ga.

  

“The portfolio represents an intriguing value-add investment opportunity to pick up high-quality, well-located assets with strong cash flow at a low cost basis,” Lipkin said. “There is significant value creation available through further leasing at the centers.”

To facilitate the floating rate financing, Lipkin educated the borrower about the potential cost savings and other benefits of floating rate debt over fixed-rate debt, including the efficient ways to hedge against an increase in LIBOR with interest rate caps at a minimal cost. 

  

Village at Myrtle Grove, Wilmington, NC

“Value-add borrowers can end up breathing a deep sigh of relief knowing they didn’t pay to lock in a fixed-rate loan at a spread of 100 basis points or more,” Lipkin said. “The interest savings can be huge over a 3-to-5 year period.”

Interest rate exposure can be a critical component of the success of a project, according to Lipkin. Interest rate caps can provide multiple advantages over other hedges, like rate swaps, including no prepayment penalties and minimal transaction costs.

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

Eric Kalis

BoardroomPR

954-370-8999

ekalis@boardroompr.com

www.Grandbridge.com.

Illustrated Properties Announces Marketing of Custom Homes on Boca Raton’s ‘Banana Patch’ Land

Alicia Lammersdorf

Boca Raton, FL - Illustrated Properties Agent Alicia Lammersdorf is the exclusive broker of the Paraiso Estates waterfront site in Boca Raton.

Lammersdorf, on behalf of renowned Boca Raton-based homebuilder Leonard Albanese & Sons Builders, is offering buyers the rare opportunity to build grand custom estates on land with a rich history that includes prior ownership by Henry Flagler and George Morikami.

Known by many as the “Banana Patch” land because of its use as a sprawling garden for the popular fruit and various exotic plants, the 1.77-acre site has room to accommodate the construction of a five-home compound. The estates are expected to vary in size, starting at 5,500 square feet.

 Asking prices for the individual estates range from $3.8 million to $5.8 million.

With more than a city block of water frontage along Boca Raton’s deepest canal, the Paraiso Estates site is the longest piece of privately owned waterfront land in the city. For luxury homeowners seeking privacy, the land is only accessible through three private gates. Boating enthusiasts can take advantage of the ability to dock yachts of up to 150 feet long.

George Morikami

“There is truly nothing else like Paraiso Estates in Boca Raton,” said Lammersdorf. “The builders behind this project have an unparalleled reputation in the marketplace. They will build gorgeous transitional/modern-style smart homes while preserving the site’s lush landscaping, flora and fauna. A “green home” package is available and encouraged on this special site.

The site has changed hands only a few times in Florida’s history, starting with its original owner Flagler. Morikami, who late in life donated land that eventually became the Morikami Museum and Japanese Gardens to Palm Beach County, purchased the site from Flagler’s Model Land Company in 1911.

Shortly after acquiring the site, Morikami sold it to another Japanese settler: Hideo Kobayashi. The Kobayashi family were farmers who kept the land until the late 1970s, when they sold it to the Olson’s, a married couple who continued the farming tradition. 

The Olson’s specialized in growing more than 30 kinds of banana plants, selling some plants to Disney World, SeaWorld and Busch Gardens, among other destinations.

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

Ashley Fierman

Account Executive, BoardroomPR

afierman@boardroompr.com

O 954-370-8999

C 954-330-1554

Bank of America Plaza | 1776 N. Pine Island Road

Suite 320 | Plantation, FL 33322

David Garside Joins Proper Title, LLC as Executive Vice President

David Garside

CHICAGO, IL (Oct. 4, 2016) — Palatine, Ill.-based Proper Title, LLC, a full-service title insurance agency, has hired David Garside as executive vice president of title and escrow operations. Garside will be responsible for managing Proper Title’s processing, closing and overall title operations.

“David has a long history of providing the leadership and vision necessary to elevate title operations and foster a collaborative environment,” said Ben Niernberg, executive vice president of business development and operations at Proper Title. “He shares Proper Title’s customer-focused culture, entrepreneurial spirit and commitment to innovation, which will help position us for continued growth.”

Garside, 46, has 20 years of experience in real estate, with 14 years dedicated to the title insurance industry. Prior to joining Proper Title, Garside had served for seven years as vice president, director of operations of Fort Dearborn Title.

He led the expansion of Fort Dearborn Title into a multi-state operation, and managed several critical initiatives, including strategic planning, business development, cross-functional team training and process efficiency. Garside has also held several professional leadership positions as a coach, mentor and independent consultant.

“The title insurance industry was status quo for more than a century until Proper Title came along and set new, higher standards,” said Garside. “I’m excited to be part of a firm that is taking title insurance to the next level, and my goal is to help the firm continue its upward trajectory of growth and superior customer service.”

Ben Niernberg

Over the past three years, Proper Title has grown its transaction volume by 400 percent and revenue by 420 percent; is the second-largest title insurance agency in Illinois; and earned the 2014 and 2015 “Rising Star / Excellence in Action” awards by Fidelity Investments.

 Proper Title is the first in its market to implement a concierge approach to elevate the customer experience, dedicating an attorney/broker concierge for each closing to ensure greater efficiency and a shorter closing time.

“Having begun his title insurance career as a closer and performing all aspects of the business before becoming an operations manager, David has a deep understanding of where title operations can, and should, improve,” said Niernberg.

Garside added, “My experience and guiding principles align with the Proper Title team and culture. I look forward to furthering its mission of innovation and disruption of the title insurance industry.”

Garside received an MBA from Lake Forest Graduate School of Business, where he received the school’s highest honor of Hotchkiss Scholar, and a bachelor’s degree from the University of Denver. He is also a board member of the First Goal Foundation, a nonprofit organization in Chicago, where he has been instrumental in its recent growth to provide underserved youth an opportunity to learn to play hockey and figure skate.

  

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

Julie Liedtke, jliedtke@taylorjohnson.com, (312) 267-4521

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

www.propertitle.com.

HFF secures $41.547 million financing for Three-property seniors housing portfolio in Sacramento, CA

Sarah Anderson

DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $41.547 million in financing for a three-property seniors housing portfolio in Sacramento, California.

HFF worked on behalf of Harbert Seniors Housing Fund I, LP, an affiliate of Harbert Management Corporation, to secure the seven-year, floating-rate acquisition loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.  

The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.

The properties in the portfolio are: Chateau on Capitol Avenue, Chateau at River’s Edge and River’s Edge.  Chateau on Capitol Avenue is located at 2701 Capitol Avenue less than two miles east of downtown Sacramento. 

The property has 56 assisted living units totaling 60,268 rentable square feet.  Chateau at River’s Edge and River’s Edge are adjacent properties located at 601 and 641 Feature Drive, approximately 3.9 miles east of Chateau on Capitol Avenue. 

Chateau at River’s Edge has 97 assisted living and 10 memory care units while River’s Edge encompasses 94 independent living units totaling 55,576 rentable square feet.  The properties are 95 percent leased overall.

The HFF seniors housing team representing the borrower was led by senior managing directors Ryan Maconachy and Chad Lavender and associate director Sarah Anderson.

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.harbert.net.

HFF secures financing for Class A multi-housing community in Houston’s Energy Corridor

Aura Memorial Apartments, 14900 Memorial Drive, Energy Corridor, Houston, TX

 

Matt Kafka

HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured financing for Aura Memorial, a 388-unit, Class A, multi-housing community in Houston’s Energy Corridor.

Working on behalf of the borrower, Trinsic Residential Group, HFF placed the seven-year, floating-rate loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.  The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.

Aura Memorial is situated at 14900 Memorial Drive between North Eldridge Parkway and Dairy Ashford Road in West Houston.  

The community offers nearby access to Interstate 10 and Beltway 8 and numerous retail, dining and recreational destinations, including City Centre, Memorial City Mall, Bear Creek and Terry Hershey Park. 

Completed in 2014, the wrap-style community has a variety of one- and two-bedroom floor plans ranging from 705 to 1,338 square feet.  Units feature granite countertops, contemporary cabinetry, stainless steel appliances, in-unit washers and dryers, modern lighting, soaking tubs and built-in USB charging ports.

 Community amenities include a resort-style swimming pool with sundeck and grill area; activity courtyard with an outdoor kitchen, bocce ball court, covered lounge area with TV and billiards table; fitness center; cyber café with entertainment kitchen; business center; private conference room; and dog run.

The HFF debt placement team representing the borrower was led by senior managing director Matt Kafka.

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 closes sale of and secures financing for Two multi-housing properties in Montgomery County, PA

Hunter's Run Apartments, 1151 West Sterigere in Montgomery County, Norristown, PA

PHILADELPHIA, PA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and secured financing for Riverstone East and West Apartments and Hunter’s Run Apartments, two multi-housing properties totaling 83 units in Norristown, Pennsylvania.

Riverstone East and West Apartments, Norristown, PA.
Riverstone East is at 1015 West Beech Street;
 Riverstone West  at 920 Buttonwood Street.

HFF marketed the assets on behalf of two separate sellers to RRG Norristown Apartments LLC, an affiliate of Jenkintown-based RRG Management LLC.

 Riverstone East and West Apartments was marketed on behalf of a local private investor, and Hunter’s Run Apartments was marketed on behalf of Concordia Properties. 

In addition, HFF’s debt placement team worked on behalf of the new owner to secure a seven-year, fixed-rate loan through a regional bank for the acquisition of both properties.

Hunter’s Run Apartments (Hunter’s Run) is located at 1151 West Sterigere in Montgomery County less than five miles from the Plymouth Meeting Mall and King of Prussia Mall. 

The property provides access to all major employment centers in Pennsylvania via major roadways, including Interstates 476, 276 and 76 and Route 202 and the Norristown Elm Street Southeastern Pennsylvania Transit Authority (SEPTA) train station.  The property has 39 one- and two-bedroom units, which are 97 percent occupied.

Carl Fiebig

Riverstone East and West Apartments encompasses two adjacent buildings totaling 44 one- and two-bedroom units averaging 864 square feet each, and is one block south of Hunter’s Run.  Riverstone East is located at 1015 West Beech Street and Riverstone West is located at 920 Buttonwood Street.

The HFF investment sales team representing the seller was led by associate director Carl Fiebig and senior managing director Mark Thomson.

HFF’s debt placement team was led by managing director James Conley and associate director Neil Campbell.

“The demand for value-add apartments in suburban Philadelphia remains robust,” said Fiebig.  “Our team was able to procure an eclectic mix of local and regional buyers to the opportunity.”

“We are excited to bring professional, on-site leasing and maintenance staff to these properties, and to continue providing well-maintained, safe and affordable communities for our residents,” added representatives of RRG Management LLC.

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

Sale of multi-housing development site in Charlotte, NC closed by HFF team

Justin Good

CHARLOTTE, NC -– Holliday Fenoglio Fowler, L.P. (HFF) announced its Carolinas investment sales team has closed the sale of a 5.21-acre development site in Charlotte’s South End submarket.

HFF managing director Justin Good and director Allan Lynch, formerly of Cushman & Wakefield | Thalhimer, worked alongside managing director Bill Simerville and senior vice president Brian Craver of Foundry Commercial to market the offering on behalf of Pepsi Bottling Ventures.

 Lennar Multifamily Communities purchased the site free and clear of existing debt.  Prior to the sale, Lennar Multifamily Communities successfully rezoned 4.69 acres of the site to TOD-M (Transit-Oriented Development Mixed-use) due to its proximity to the New Bern light rail station.

The site, formerly home to a Pepsi Bottling plant originally constructed in 1938, is situated at the intersection of New Bern Street and South Boulevard in Charlotte’s high-growth South End area.

 A six-story building encompassing 432 residential units, 26,000 square feet of retail and a nearly 800-space parking deck is planned for the parcel.  Designed by Axiom Architecture and LandDesign, the property is oriented both toward the LYNX light rail/Rail Trail and South Boulevard. 

Allan Lynch

The property will maximize pedestrian connectivity with five pedestrian-oriented, ground-floor retail spaces and direct access to the Rail Trail’s 4.5 miles of public trails that wind through the heart of the city connecting neighborhoods such as Sedgefield, Southside Park, Brookhill, Dilworth and Wilmore to Uptown. 

A public walkway adjoining the Rail Trail to South Boulevard and a pedestrian crossing from South Boulevard to the Harris Teeter across from the site will be added.

“Lennar Multifamily is bringing an institutional-quality development to the heart of the South End to continue the area’s incredible transformation into a residential and retail destination,” stated Good.  “Designed to maximize connectivity with New Bern Station and the Rail Trail, the development will offer significant street-level retail and unmatched access to all that nearby Uptown has to offer.”

 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

Australia’s Oasis by Crown Group Brings New York Style Apartments to Sydney

Oasis by Crown Group is a $88-million residential tower developed by the multi-award developer Crown Group. The project sets to be a sanctuary in the inner west.

Oasis by Crown Group features a range of apartment types including one-bedroom, one-bedroom-plus-study, loft apartments, two bedroom and three-bedroom apartments plus top-floor penthouses with spectacular views.

Apartments have been designed with modern lifestyles and the latest technology in mind and include an abundance of internal storage and Miele appliances. Many apartments also include a multipurpose media lounge, easily utilized as additional lounge seating.

  

Crown Group Sales & Marketing Director Roy Marcellus said “These apartments are the crème of the crop in Sydney; they are been custom-designed by world-class architects and built by Crown Group’s award-winning construction team”.

  

Oasis by Crown Group is unique in many ways. It rests on a natural highpoint on the urban landscape, creating a dominant presence from every aspect.

 The 79-apartment Oasis by Crown Group at 168 Liverpool Road features a contemporary open-air atrium designed to draw natural light and air into the centre of the building and a rooftop terrace with panoramic views of Sydney.

 The loft apartments at Oasis by Crown Group also introduced a New York City living experience to Sydney residents.

  

A loft apartment is a double storey apartment with an unpartitioned upper level. Loft apartments originated and are often associated with New York City living. Today loft apartment have come to be associated with an industrial style and look that is urban and rugged yet ultimately sophisticated. 

Nicholas Turner

With their unusually flexible layout and architectural perks, the loft is both classic and laid-back; sophisticated and relaxed. A loft apartment is often a favourite of interior designers. It can be turned into a private paradise with unique and artistic decorations.

  

Mr Marcellus said “The New York style apartments are extremely popular among younger buyer who loves its urban and sophisticated style”.

  

Designed by Surry-hills based architects Turner, Oasis by Crown Group features unparalleled facilities including a music room, cinema, open-air gymnasium and lush landscaped rooftop lounge.

  

Principal and founder of Turner, Nicholas Turner, said Oasis by Crown Group’s design, with elegant and naturally finished qualities used throughout the residents’ lounge, piano room and theatrette, creates “a calm and cool entry sequence.”

  

Roy Marcellus

“Oasis by Crown Group will present as a high quality, contributory piece of contemporary architecture, prominently located along the ridge of Ashfield,” Mr Turner said.

Oasis by Crown Group is located nine kilometres from Sydney’s CBD, six kilometres from The University of Sydney, 10 kilometres from Sydney’s airport, 300 metres from Ashfield Mall and 750 metres from Ashfield train station.

  

Apartments are priced from $680,000 to $1,185,000.

Oasis by Crown Group display suite is now open by appointment, please call 1300 672 564.

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

Hwee Peng Yeo

Vice President, Asia Markets

Glodow Nead Communications

San Francisco • New York • Singapore • Shanghai

Level 21, Centennial Tower, 3 Temasek Avenue • Singapore 039190

Level 15, One Corporate Avenue, 222 Hubin Road, Shanghai China, 200021

1700 Montgomery Street, Suite 203 • San Francisco, CA • 94111

Asia: 65.9768.6087  US:415.394.6500 • E: hweepeng@glodownead.com

www.GlodowNead.com

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博德纳公关咨询公司

Centennial Tower 21层，Temasek Avenue 3号， 新加坡邮区039190

上海湖滨路222号企业天地一号15层，中国邮编20021

E: hweepeng@glodownead.com

www.GlodowNead.com

www.crowngroup.com.au