Atlantic | Pacific Companies Acquires Two Texas Properties Through Its Blue Atlantic Partners Fund I

Max Briggs

MIAMI, FL – Florida-based Atlantic | Pacific Companies (A|P Companies), is pleased to announce the acquisition of two Class-A multifamily communities in Texas through its Blue Atlantic Partners Fund I.

The recently closed transactions increase A|P’s holdings in Texas to almost 3,000 units and expands A|P’s regional reach to 8 market-rate multifamily communities. Atlantic | Pacific Management (A|P Management), the property leasing & management platform under A|P, will handle all property management responsibilities for both properties.

The two new acquisitions include:

Franciscan of Arlington is located in central Arlington, Texas near the AT&T Stadium and Globe Life Park. 

The property enjoys a total of 418 units with a mix of one, two and three-bedroom units.  Unit interiors feature stainless steel appliances, over-sized walk-in closets, and garden tubs as well as direct access garages in select units. The community features two waterscape pools and Jacuzzi, resident coffee bar and a state-of-the-art fitness center.

Village of Hawks Creek, Westworth Village,
near Fort Worth, TX

Village of Hawks Creek is located in Westworth Village near Fort Worth, Texas. The community is rich in the antiquated architecture and craftsmanship of Texas.

 The property consists of 312 units in twelve desirable floor plans, with a range of one, two, and three bedrooms. The units feature gourmet kitchens with stainless steel appliances and walk-in closets.

Mark Briggs, Senior Managing Director at A|P Management remarked, “We are excited to continue our expansion in Texas and bring our amazing management team to these communities. These exceptionally located assets are a perfect complement to our existing Texas portfolio.

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

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

Jessica Wade Pfeffer | JWIPR

jessica@jwipr.com | 305.804.8424

Margie Sernik | JWIPR

www.apcompanies.com/management.margie@jwipr.com | 786.200.2516

MCA Realty Acquires Multi-Tenant Business Park in North Las Vegas, NV

Walnut Business Park, Las Vegas, NV

Las Vegas, NV  (Oct. 17, 2016) – MCA Realty, a full service real estate investment and management company, has acquired Walnut Business Park, a 92,056 square-foot value-add industrial business park in the northern submarket of Las Vegas.

The firm acquired the property at a significant discount to its replacement cost, and plans to strategically reposition the asset to create long term value, according to Tyler Mattox, Principal at MCA Realty.

Tyler Mattox

“Select value-add opportunities still exist in the Las Vegas market,” says Mattox.  “The industrial market in north Las Vegas has demonstrated a tremendous recovery over the last several years and continues to absorb space.

“In fact, 2016 marked the region’s strongest year since 2008.  This consistent economic growth, coupled with increasing demand for small and mid-bay industrial product throughout the region, makes this acquisition a logical addition to our existing portfolio.”

Mattox notes that new construction for “big box” industrial product has increased dramatically over the last two years, while demand for smaller spaces continues to outpace supply. 

At the end of the second quarter of 2016, approximately three million square feet of “big box” product was under construction in Las Vegas, while new construction for smaller industrial product remains relatively nonexistent.

 “This lack of available supply for smaller multi-tenant industrial buildings is placing upward pressure on rental rates and is driving demand for assets such as Walnut Business Park,” says Mattox.

MCA Realty's principals, Tyler Mattox, Jared Gordon, and Peter Cheng, have successfully navigated a full spectrum of market conditions, and pride themselves on building and maintaining strong relationships with industry partners.

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

Lexi Astfalk / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

LAstfalk@browermillercole.com

www.mca-realty.com.

Hold-Thyssen Negotiates 12 Leases at Kirkman Commerce Center in Orlando, FL for More than 27,000 Square Feet

Alex Rowlinson

WINTER PARK --- Hold-Thyssen, Inc., a commercial property firm based in Winter Park, recently negotiated 10 leases for office/flex space totaling 27,529 rentable square feet at Kirkman Commerce Center in Orlando.

The Hold-Thyssen leasing team of Troy Stevens and Alex Rowlinson negotiated the transactions on behalf of the South Florida landlord at the 124,283 square foot commercial complex.

At 701 S. Kirkman Rd. in Kirkman Commerce Center Stevens and Rowlinson negotiated new or expansion lease agreements with these tenants: 

American Premier Security and Sound, Inc., 2,400 square feet

Florida Corporate Branding LLC 3,600 square feet;

First Brazilian Baptist Church of Orlando, 1,672 square feet;

Precision Security & Fire LLC, 758 square feet;

Najac Tax & Consulting Services LLC, 586 square feet;

MA3-1 Cleaning Services, 544 square feet; 

Lease renewals were signed at the 701 building by tenants

Trans Global Communications for 13,200 square feet and

Sew For You LLC, 571 square feet.

At 773 S. Kirkman Rd. in the Commerce Center, Mortgage Financial Group, Inc. leased 1,043 square feet, Generational Wealth, LLC leased 891 square feet and First Option Tax LLC leased 421 square feet at 775 S. Kirkman Rd.

At 775 S. Kirkman Rd.  Mystic Travel Inc. signed a three-year expansion agreement.

The Hold-Thyssen team negotiated these 12 deals adding to a total of 17 lease agreements completed after the Kirkman Commerce Center was sold late last year to a new South Florida investor owner.

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

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

Hold-Thyssen Negotiates Two New Office Leases in Tampa Bay, FL Area

                                              

Theresa Margaris

Tampa / Clearwater, FL --- Hold-Thyssen, Inc. recently negotiated two new long-term lease agreements totaling 2,569 rentable square feet at office facilities in the Tampa Bay area. 

Leasing Associate Theresa Margaris at Hold-Thyssen’s Clearwater office, negotiated the transactions representing the landlords.   

At Westchase Commons, 13015 W. Linebaugh Ave. in Tampa Margaris represented the landlord Tampa Rejuvenation Holdings, LLC in the lease of 1,620 square feet to Pedro Soler, M.D.  a successful plastic surgery practice relocating to the newly constructed building with build-to-suit shell units.  

At Terrace Court, 11424 N. 53rd St. in Temple Terrace,   Margaris represented the landlord Pylon, LLC in a lease agreement with Freeman Support Care Services Corp. a home health company providing Medicaid Waiver Services who is doubling its space at the office building at Terrace Court.

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

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

HFF closes $25.4 million sale of transit-oriented office building in Seattle’s north central business district

  

Broadacres Office Building, North Central Business District, Seattle, WA

PORTLAND, OR –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $25.4 million sale of Broadacres, a 123,108-square-foot, transit-oriented office building with ground floor retail space in Seattle’s north central business district.

Nicholas Kucha

HFF marketed the property with KG Investment Properties on behalf of the seller, Principal Real Estate Investors, and procured the buyer, LBA Realty. 

Broadacres is situated at 1601 2nd Avenue just two blocks from Sound Transit-King County Metro’s Westlake station; one block from Pike Place Market, a popular retail destination that attracts more than 10 million visitors annually; and four blocks from Amazon’s South Lake Union headquarters in downtown Seattle.

  With a history dating back to 1907, the 10-story property represents a rare value-add creative office redevelopment opportunity. 

The HFF investment sales team representing the seller was led by senior managing director Nicholas Kucha.

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.principal.com.

              

Partyka Group at NAI Realvest Represents International Investor in $1.6 Million Bank-Owned Sale at Airport Industrial Park in Sanford, FL

  

Paul Partyka

SANFORD, FL  – The Partyka Group at NAI Realvest recently closed on the $1.6 Million sale of 10 grade-level industrial buildings totaling 37,800 square feet at 3650-3735 Delphini Park Lane, just north of the Orlando Sanford International Airport.

Paul P. Partyka and Juan Jimenez negotiated the transaction representing the buyer, AIM 786, LLC, a client from Dubai.  

The industrial buildings range from 3,000 to 6,000 square feet and are situated on three fenced acres at the Airport Industrial Park. 

“The property was bank-owned and represented a great investment for our international client and we will start marketing very aggressively for tenants,” Partyka said. 

The seller, Pittsburgh, Pa. based Land Holding, LLC was represented in the transaction by Lawson Dann of Avison Young.

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

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142  

Kiser Group Brokers 15 Multifamily Transactions in Chicago Area Totaling $14.88 Million

                                                                         

Lee Kiser

 CHICAGO, IL – Chicago-based Kiser Group, a boutique multifamily brokerage firm specializing in mid-market properties, announced it has recently brokered 15 multifamily sales totaling $14.88 million throughout Chicago and adjacent suburbs.

The largest transaction, valued at $4.3 million, was the sale of 18 condominiums in a 20-unit building in Chicago’s Uptown neighborhood.

Other notable sales include a 34-unit vintage apartment building in Cicero, Ill.; and, in Chicago, a 36-unit building in Woodlawn, a five-unit building in Hyde Park and a nine-unit building in Ukrainian Village.

“Mid-market multifamily properties saw a surge of investor interest over the summer from a tighter flow of available inventory simultaneous with an increase in investor demand, and we anticipate the trend will continue throughout 2016,” said Lee Kiser, principal and managing broker of Kiser Group.

“With so many millennials and empty nesters opting to rent, and the return on investment for apartments far exceeding that of condos, developers and investors are seeking high-quality rental buildings to boost the performance of their portfolios.”

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

Cara Mooses, cmooses@taylorjohnson.com, (312) 267-4523

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

Anantara Vacation Club Announces Eight New Timeshare Destinations

  

Melanie Smith

  

BANGKOK, THAILAND -- Anantara Vacation Club, Asia's leading luxury shared ownership concept for discerning travellers, is pleased to present eligible Club Points Owners and their guests with eight new destinations across Europe, Australia and Southeast Asia.

 Anantara Vacation Club’s flexible Club Escapes Programme provides eligible Club Points Owners preferred access to a growing number of branded properties around the world.

River of Kings, Riverside Bangkok, New Club Destination

“Eligible Club Points Owners can now take advantage of an ever-growing selection of properties that offer the certainty of comfort in sought-after destinations,” said Melanie Smith, Vice President, Club Operations for Anantara Vacation Club.

“Club Points Owners will enjoy high-value accommodations, varied amenities and the opportunity to enjoy a memorable array of local experiences.  

"From romantic retreats to fun-filled family destinations –Anantara Vacation Club continues to offer an expanding portfolio of properties.

Anantara Vacation Club at Riverside Bangkok is an exclusive new Club destination on the west bank of the Chao Phraya River, known as the River of Kings. The location enjoys convenient access to a number of sought-after attractions, including Bangkok’s bustling central business district, picturesque Buddhist temples, scenic daytime and evening river cruises and Asiatique the Riverfront, the city’s premier outdoor night bazaar.

River of Kings, Bangkok, Thailand

Club Points Owners can choose from two luxurious options located adjacent to each other in this destination: Anantara Riverside Bangkok Resort and AVANI Riverside Bangkok Hotel. 

Both properties offer a state-of-the-art fitness centre and selection of restaurants and lounges, while AVANI Riverside Bangkok Hotel features a rooftop swimming pool and Anantara Riverside Bangkok Resort provides access to an outdoor swimming pool.

 In addition, Anantara Vacation Club has added seven new international destinations through its Club Escapes Programme - offering Club Points Owners greater choice and flexibility in planning their vacations.

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

Hwee Peng Yeo, Glodow Nead Communications

hweepeng@glodownead.com

+65 (0) 9768 6087

Pre-leasing Underway at Aurora St. Charles Senior Living as $24 Million Redevelopment Nears Completion in Downtown Aurora, IL

  

Aurora St. Charles Senior Living Facility, 400 East New York Street,  Downtown Aurora, IL

CHICAGO, IL – Evergreen Real Estate Group, a leader in the development, rehabilitation and management of both affordable and market-rate multifamily housing, today announced the start of pre-leasing at Aurora St. Charles Senior Living, a 60-unit independent living facility in downtown Aurora, Ill.

 Formerly St. Charles Hospital, the historic Art Deco building is being converted to modern senior housing as part of a $24 million redevelopment that began in February 2016. First move-ins are scheduled for December.

David Block

“Even after the former hospital sat vacant for five years, the people of Aurora never lost sight of its potential, presenting us with an opportunity to work alongside city and state officials to preserve a local landmark while creating much-needed housing for area seniors,” said David Block, director of development for Evergreen Real Estate Group, which will also manage the community.

“Through thoughtful renovations, we were able to restore this extraordinary building and transform it into a vibrant residential community with all of the amenities and services today’s seniors desire in a home.”

Located at 400 E. New York St., Aurora St. Charles Senior Living offers a mix of studio, one- and two-bedroom floorplans, all with spacious living/dining areas and open kitchens. The community’s renovated interiors showcase a number of original design features, including terrazzo and stone floors in common areas, oversized windows in each residence and 9-foot ceilings throughout the building. 

When complete, the property will also feature several shared amenity spaces, including a large community room in the hospital’s former chapel that will house a library/reading room and separate computer area. Outside, walking paths and community gardens will provide additional opportunities for exercise and socialization.

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

Kelly Shumaker, kshumaker@taylorjohnson.com, (312) 267-4519

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528 

Kass Management Services Expands Chicago-Area Apartment Portfolio

Mark Durakovic

CHICAGO, IL — Chicago-based Kass Management Services, a third-party property management firm, announces it has been retained by New York-based Property Management Group (PMG) to manage seven market-rate properties comprising 308 units in Chicago and surrounding suburbs.

The assignment, which includes the recently opened L development in Logan Square, adds to Kass Management’s already expansive portfolio, which includes nearly 9,500 residential units and 600,000 square feet of commercial space throughout the Chicago area.

“In encompassing buildings of all sizes, and in a variety of locations, this portfolio truly speaks to our capabilities as a property manager,” said Mark Durakovic, principal of Kass Management Services.

“We are excited about our partnership with PMG and look forward to introducing residents of each community to the highly personalized service that has made us one of Chicago’s preeminent management companies.”

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

Kelly Shumaker, kshumaker@taylorjohnson.com, (312) 267-4519

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

Baird & Warner Good Will Network Donates $100,000 to Chicagoland Charities

 

Jennifer Alter Warden

CHICAGO, IL — Baird & Warner, Chicagoland’s largest locally owned independent residential real estate services company, announced its charitable arm, the Good Will Network, is donating $100,000 through 10 grants in the amount of $10,000 each to Chicagoland nonprofit agencies focusing primarily on serving those impacted by homelessness.

The 10 winning charities were selected through an online campaign that generated thousands of votes from people across Illinois.

“Neighbors helping neighbors is a core value that Baird & Warner strives to demonstrate every day, and this campaign embodies that philanthropic spirit,” said Jennifer Alter Warden, chief operating officer and executive vice president of Baird & Warner. “By engaging our employees and our communities, we can support local organizations that share the good and help those in need.”

The grant winners were selected as part of an online campaign aptly named #ShareTheGood, which began with the nomination of charities by Baird & Warner’s broker associates, loan officers and employees. Throughout September, the public cast online votes for the nominees, rewarding the 10 charities with the most votes. 

 The winning nonprofits provide an array of services to Chicagoland communities, from food and safe housing to shelter and employment assistance. The following organizations will receive a $10,000 grant from the Baird & Warner Good Will Network:

·     360 Youth Services 

·     Almost Home Kids 

·     Bridge Communities 

·     Community Crisis Center 

·     Hesed House

·     Family Promise North Shore

·     Family Shelter Service

·     PADS Lake County

·     Realtors Against Homelessness

·     Turning Pointe Autism Foundation

Baird & Warner Good Will  Network Volunteers

 “The people whom these organizations serve face extraordinarily difficult circumstances and need the community’s help,” said Warden. “Baird & Warner’s mantra is to make things easier, and we’re proud to alleviate some of the challenges people face by contributing to these exceptional organizations.”

Since its creation in 2002, Baird & Warner’s Good Will Network has donated more than $2 million in grants to Chicagoland nonprofit organizations with a focus on shelters and homelessness, particularly for women and children. Broker associates, loan officers and employees have also volunteered thousands of hours to these charities.

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.BairdWarner.com

Stepp Commercial Completes $3.2 Million Sale of Value-Add Apartment/Commercial Property in Santa Monica, CA

Kimberly Roberts Stepp

 Santa Monica, CA – Stepp Commercial, a leading multifamily brokerage firm in the Santa Monica market, has completed the $3.2 million sale of a fully occupied 13-unit property located at 1313 Pico Boulevard in Santa Monica.

The commercially zoned, two-story property includes 11 residential apartment units as well as two commercial spaces occupied by a hair salon and an accounting firm.

Kimberly Roberts Stepp, principal, and Aynsley Armbrust, vice president, with Stepp Commercial, represented the seller, a private trust from Los Angeles, as well as the buyer, North Hollywood-based MGA Investments, Inc. The transaction closed at full asking price with a low cap rate of just 2.8 percent and gross rent multiplier (GRM) of 19. 

“This property offers the buyer the value-add potential of 80 percent upside in rents,” said Stepp. “The new owner is negotiating buyouts with existing tenants and will renovate and reposition the property in the near future in order to maximize value.”

Aynsley Armbrust

Stepp added: “This area of Santa Monica is continuing to improve with an influx of A-plus credit tenants, high-end restaurants and shops, new development and proximity to the Expo Line.”

Built in 1946, the property consists of 10 one-bedroom units, one two-bedroom unit, and two commercial units. The well-located asset is just 12 blocks from the numerous shops and restaurants on Ocean Avenue and Main Street.

 Stepp Commercial is a brokerage firm specializing in the multifamily sector for properties ranging in size from $1 million to $50 million. Stepp Commercial’s mission is to provide apartment owners with a fully integrated sales platform that includes comprehensive market knowledge and local real estate expertise to successfully complete any type of multifamily transaction.

For more information visit www.steppcommercial.com

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

Darcie Giacchetto

949.278.6224

Cohen Commercial Realty Brokers Three New South Florida Leases

  

Bryan S. Cohen

 Humana Metcare Moving Into Abacoa Professional Center in Jupiter, FL

Jupiter, FL — Bryan S. Cohen and Allan Carlisle of Cohen Commercial Realty, Inc., announced the signing of Humana Metcare to lease a space at Abacoa Professional Center located on Heritage Drive in Jupiter, Florida. Cohen Commercial Realty, Inc. represents the Landlord in this transaction. 

Mount Bethel Human Services Corp. Occupies 930 SF at The Market Place in Lake Worth, FL

 Lake Worth, FL — Bryan S. Cohen, Thomas Whittelsey, and Travis Langhorst of Cohen Commercial Realty, Inc., announced the signing of Mount Bethel Human Services Corporation, to lease a 930-square-foot space at The Market Place located at 7330 Lake Worth Road in Lake  Worth, Florida. Cohen Commercial Realty, Inc. represents the Landlord in this transaction. 

Silvestri and Associates Insurance Leases 1,000 SF at The Market Place in Lake Worth, FL

 Lake Worth, FL — Bryan S. Cohen, Thomas Whittelsey, and Travis Langhorst of Cohen Commercial Realty, Inc., announced today the signing of Silvestri and Associates Insurance, to lease a 1,000-square-foot space at The Market Place located at 7330 Lake Worth Road in Lake Worth, Florida. Cohen Commercial Realty, Inc. represents the Landlord in this transaction. 

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

Donna Cordes

Cohen Commercial Realty, Inc.

561.471.0212 Office

561.471.5905 Fax

donnacordes@cohencommercial.com

www.cohencommercial.com

Windstream NuVox Signs Lease Renewal at Cameron Brown Building

 

Campbell Walker

CHARLOTTE, NC — Windstream NuVox has signed an 11,201-square-foot lease renewal and expansion for its Charlotte, North Carolina, Sales and Switch location at the Cameron Brown Building.

Campbell Walker of Lincoln Harris represented the tenant in the transaction, and Kris Westmoreland of Cushman & Wakefield represented the landlord, 301 South McDowell Street Holdings LLC.

“The Cameron Brown Building has served Windstream NuVox well, and they are looking forward to continuing their relationship with the landlord,” Walker said.

The 184,032-square-foot Cameron Brown Building is located at 301 S. McDowell St. Built in 1971, the Class B office building offers unobstructed views of Uptown, abundant on-site parking and convenient access to Interstate 277.

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

Meredith Pierce • The Wilbert Group

1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309

O: 404-343-0108 • M: 478-719-9958

@meredithfierce

Trion Properties Increases Investment in Portland, OR by Acquiring Value-Add Apartment Communiity in Beaverton Submarket

Hidden Villas,  14620 SW Farmington Road,  Beaverton, OR

Max Sharkansky

BEAVERTON, OR – Trion Properties, a private equity commercial real estate firm that specializes in value-add multifamily investments along the west coast, has acquired Hidden Villas, a 61-unit, value-add apartment community in the Portland submarket of Beaverton, Oregon, bringing its multifamily portfolio in the area to a total of 215 units.

The principals of Trion Properties are Max Sharkansky and Mitch Paskover, two real estate professionals with over 30 years of combined experience in finance, acquisitions, management and redevelopment.

“Beaverton is on the cusp of tremendous economic growth, making it an attractive market for multifamily investors,” says  Sharkansky, Managing Partner of Trion Properties. 

“The region’s rapid job growth, mass transit options, and high quality of life are driving resident demand for well-located multifamily communities near major employers in the area.”

Sharkansky explains that the Portland metro, also known as the “Silicon Forest,” is one of the most dynamic tech employment markets in the Pacific Northwest, and is home to a cluster of high-tech companies, including Intel, the largest for-profit employer in the state with over 17,000 employees.

In addition, the Portland metro has also established itself as the sports apparel capital of the nation, with brands such as Nike and Columbia Sportswear taking up residence here.

Mitch Paskover

 “Nike is currently undergoing a 3.2 million square-foot, $380 million expansion of its headquarters which is set for completion in 2018, adding thousands of new jobs in the next few years,” continues Sharkansky.

“This influx in new jobs, coupled with the property’s central location will further drive resident demand, resulting in stabilized cash flow and strong operating income for the asset over time. 

"Nike is located 1.8 miles from the apartment community, and Tektronix, an electronic equipment manufacturing firm, is located just 1.3 miles from the property as well.”

At nearly full occupancy, Hidden Villas has strong in-place cash flow with tremendous upside potential, according to Sharkansky, who adds that the property presents an opportunity to capture rent growth upon lease rollover.

“By repositioning and rebranding this asset through strategic renovations, we plan to bring rents up to market-value in order to optimize the property’s value-add potential, thereby increasing our internal rate of return,” Sharkanksy confirms.

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

Katie Kea / Lexi Astfalk

Brower, Miller & Cole

(949) 955-7940

kkea@browermillercole.com

http://www.trion-properties.com/