HFF secures $27 million refinancing for 361-unit multi-housing community in suburban Minneapolis, MN

Brock Yaffe

DENVER, CO  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $27 million refinancing for SpringBrook Apartments, a 361-unit, garden-style multi-housing community in the northern Minneapolis suburb of Fridley, Minnesota.

HFF worked on behalf of the borrower, University Avenue Associates LLP, to secure the 25-year, fully amortizing, 3.61 percent fixed-rate loan through a correspondent life insurance company lender.

SpringBrook Apartments is located at 111 83rd Avenue NE in Fridley.  Approximately five miles north of Minneapolis, the property is accessible to the Twin Cities metropolitan area via nearby State Highways 47 and 65 and Interstates 610 and 694. 

The property comprises nine, three-story apartment buildings and one, single-story townhome building with units averaging 1,019 square feet.  

Community amenities include an outdoor and indoor swimming pool, hot tub, sauna, 24-hour fitness center, tennis courts, volleyball courts, basketball courts, horse shoe courts, putting green, clubhouse, party room, game room, playground, ponds with fountains and access to nature trails.  SpringBrook Apartments was 100 percent occupied as of year-end 2016.

The HFF debt placement team representing the borrower was led by associate director Brock Yaffe.

“The HFF team delivered the product that matched our group's requirements for this core holding,” stated a representative from University Avenue Associates LLP.  “HFF’s service – from the initial number crunching, to marketing and negotiations, through closing – was top notch.”

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 | hfflp.com

ohennessey@hfflp.com

HFF arranges $10.2 million acquisition financing for Los Angeles-area flex industrial park

  

Yorba Linda Business Park, La Palma Avenue, Yorba Linda, CA

 LOS ANGELES, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $10.2 million in acquisition financing for Yorba Linda Business Park, a four-building flex industrial park totaling 115,760 square feet in Yorba Linda, California.

Working on behalf of the borrower, Berkeley Partners, HFF placed the 10-year, non-recourse loan with Michael McCool at Chase Commercial Mortgage Lending.  The loan will have a fixed-rate for the first five years before converting to a floating-rate loan for the remaining five years.  Loan proceeds were used to pay off a line of credit that was used to acquire the property 60 days before the loan closed. 

Jeff Sause

Situated on approximately 9.1 acres, Yorba Linda Industrial Park is located at 22343, 22345, 22347 and 22349 La Palma Avenue in the foothills of Yorba Linda, a southern California community southeast of Los Angeles.

  The property is near an entry ramp to the Riverside Freeway and is approximately 40 miles from the Ports of Long Beach and Los Angeles.  Additionally, the business park has easy access to the southern part of Orange County via the Foothill Transportation Corridor (241) Toll Road.

Yorba Linda Business Park features 68 industrial, office and flex units that are 91 percent leased to a variety of tenants, including The Well, Canyon Crossfit, Global Powersport Resource, CaliRovers and Central Enterprises.

The HFF debt placement team representing the borrower was led by director Jeff Sause and senior managing director Kevin Mackenzie.

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 | hfflp.com

ohennessey@hfflp.com

American Realty Advisors Acquires CBD Office Tower in Portland, OR

  

Congress Center, Central Business District, Portland, OR

  

Portland, OR – American Realty Advisors (“ARA”), a leading real estate investment management firm, along with its joint-venture partner, Unico Properties LLC, a real estate investment and operating company, has acquired Congress Center, a 23-story high-rise office tower in Portland.

Erica Christensen

The property is strategically located along the primary mass-transit corridor in the heart of Portland’s central business district. 

“The location and the bones of the building make this an attractive value-add investment opportunity in a key urban market,” says Drew Hess, Senior Director, Investment Group, at American Realty Advisors.

“It presents an opportunity to make strategic leasing and capital investment in building improvements to elevate the asset’s competitive position and raise occupancy to generate strong long-term cash flow.”

The property is located at 1001 SW 5th Avenue in Portland, Oregon. The seller was represented by Nick Kucha and Michael Leggett at HFF. Tom Wilson and Erica Christensen at HFF assisted ARA and Unico in securing a floating-rate acquisition loan through RBC Capital Markets.

ARA expects strong leasing interest based on Portland’s strength as a knowledge market.

Nicholas Kucha

“Portland is emerging as one of the fastest-growing markets in the country,” Hess explains.  “The area’s economic and lifestyle profile rivals more expensive tech-oriented markets such as the Bay Area and Seattle.”

Portland’s high quality of life and educated workforce has been touted nationally.  U.S. News & World Report named the city among the Top 20 Places to Live in 2016 and employers across the country are migrating to the region.

“Downtown Portland offers the urban lifestyle that today’s office workers are seeking.  This location boasts a walkability score of 99, a transit score of 96, and a bike score of 94,” says Hess.  

“Overall, this is a functional office tower situated in a coveted business district within an economically diverse market that is positioned for long-term growth. These are precisely the fundamentals we look for in assets that we acquire.”

Built in 1980, Congress Center has high-quality features but is in need of key cosmetic upgrades, according to Brian Pearce, Senior Vice President of Real Estate Services of Unico Properties.

“In collaboration with ARA, we’re excited about the opportunity to integrate a series of capital improvements to transform this well-located asset into a modern property that will meet the needs of today’s tenants,” says Pearce, who notes that Unico has deep experience in executing value-add repositioning strategies.

Drew Hess

“We look forward to repositioning this building to attract office tenants, as we have elsewhere, and are pleased to expand our footprint in the Portland market,” Pearce notes.

ARA and Unico plan to upgrade the lobby, fitness center, and bike parking, and add amenities such as an outdoor deck to encourage creativity and collaboration among tenants.

Located two blocks from Pioneer Square, Portland’s main retail district, Congress Center is surrounded by a diverse variety of amenities including restaurants, hotels, and entertainment venues. The property is also easily accessible via light rail, bus, and bike stations. Portland’s BIKETOWN bike share system recently installed a hub on the same street as Congress Center.

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

Lexi Astfalk

Senior Account Executive

Brower, Miller & Cole

895 Dove Street, Third Floor

Newport Beach, CA 92660

p: (949) 955-7940

lastfalk@browermillercole.com

www.americanreal.com

www.unicoprop.com

.

KTGY Designs Win Top Honors at 2017 NAHB Nationals Awards for Superior Architectural Design and Planning

Cleo at Playa Vista, Playa Vista, CA

IRVINE, CA  – International award-winning firm KTGY Architecture + Planning is pleased to announce that KTGY’s designs were recognized at the National Sales and Marketing Awards gala (known as The Nationals℠), one of the building industry’s most prestigious events.

Hosted by the National Association of Home Builders (NAHB) National Sales and Marketing Council, the gala took place on January 10, 2017, in Orlando, Florida, during the 2017 International Builders' Show (IBS).

The Nationals℠ gala celebration draws more than 1,000 attendees who gather for this black-tie event at IBS. The awards pay tribute to superior design and planning as well as new-home sales and marketing achievements by individual sales and marketing professionals, homebuilders and associates, and sales and marketing councils.

Trumark Communities’ Wallis Ranch in Dublin, California, designed by KTGY and Dahlin Group Architects, along with Gates & Associates as the landscape architect, won top honors as the Master Planned Community of the Year at the NAHB’s 2017 The Nationals℠ Awards on January 10. The 184-acre master-planned community features a variety of single-family detached homes and townhomes.

Mason at Playa Vista

Cleo at Playa Vista in Playa Vista, California, received the Gold Award for Best Architectural Design of an Attached Home Plan. Located within the walkable and amenity-rich master-planned community of Playa Vista, Cleo provides luxury single-level living in four-story stacked flats by Brookfield Residential.

Mason at Playa Vista received the Silver Award for the Attached Community of the Year. Mason at Playa Vista also provides single-level living within the highly desirable master-planned community of Playa Vista. The six-plex stacked flats by Brookfield Residential feature an unconventional mix of modern and traditional architecture with a blend of brick and beachside accents, creating a unique coastal feel.

Regency at Summerlin, The Wakefield Plan in Las Vegas, Nevada received the Silver Award for Best Architectural Design of a Single-Family Detached Home 2,000 to 2,499 Sq. Ft. Designed for the luxury 55+ buyer, this gated community offers three distinct home collections by Toll Brothers.

Los Altos, The Verano Plan, also in Las Vegas, received the Silver Award for Best Architectural Design of a Single-Family Detached Home 3,501 to 4,000 Sq. Ft. Flexibility was a driving factor in the design of this plan by Toll Brothers.

Anthem House in Baltimore, Maryland received the Silver Award for the On-the-Boards Community (Under Construction On – Not Yet Open For Sale or Rent). Developed by The Bozzuto Group, Anthem House is a 292-unit mixed-use project located on a prominent site facing the Baltimore Harbor in Locust Point-Ft Mc Henry neighborhood.

Call 888.456.KTGY or visit www.ktgy.com, Facebook, Twitter, LinkedIn, Instagram, Vimeo, YouTube

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

Anne Monaghan

MONAGHAN COMMUNICATIONS, INC.

anne@MonaghanPR.com

830.997.0963.

29th Street Capital Acquires 11th Bay Area Multifamily Property

 

Casey Davis

Concord, CA – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Twin Peaks Apartments in Concord, California.

The 39-unit community is located in the East Bay submarket of the San Francisco Bay Area. Twin Peaks is comprised completely of two-bedroom townhome units and neighbors another multifamily property, Tradewinds Apartments, which 29SC acquired in October 2016.

The transaction closed Jan. 12. The sale price was not disclosed.

29SC purchased the asset off-market through a prior relationship with the seller. The firm plans approximately $485,000 worth of renovations. Interior upgrades will focus on bathrooms, flooring and kitchens. Exterior improvements will include fresh paint, modern signage, window replacements throughout all units and landscape upgrades.

“We believe this is another strong property to add to our East Bay portfolio,” said Casey Davis, 29th Street Capital’s Vice President of Acquisitions for California. “Similar to Tradewinds, this is a value-add asset in a strong location with ample employment opportunities and extremely strong submarket fundamentals.”

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

Terri Thornton

http://twitter.com/Ttho http://www.linkedin.com/in/TerriThornton

Partner, Thornton Communications

Phone: 404-932-4347

Email: Terri@TerriThornton.com

Website: www.TerriThornton.com 

Bubble Performers Greet Guests at Bijou Bay Harbor, FL Farewell to the Sales Center Event

Bijou Bay Harbor’s sales team including Natali Grad, Gabriela Diaz, Elizabeth Lao,
 Robert Morales, Hannah Socolsky, Liza Hernandez and Marcela Restrepo

Adriana  Hoyos

BAY HARBOR ISLANDS, FL –– Bijou Bay Harbor hosted its Farewell to the Sales Center event to celebrate the upcoming groundbreaking of the luxury development. With 60 percent of its available units sold, construction of the boutique-style condominium is set to begin shortly. One of the guests that very evening snatched up one of the spacious units in the waterfront oasis.

                                                                                                                                       

There were nearly 100 attendees for the private event, including brokers, buyers and neighbors. Guests were greeted by LED-lit bubble performers outside of the 2,000-square foot, on-site sales center. The event also featured live music from The French Horn Collective, an illuminated photo booth and a luxury car exhibition staged by Ocean Cadillac. 

                                     

Bijou Bay Harbor’s internationally acclaimed interior designer, Adriana Hoyos, created and exhibited special sculptures during the event, which were inspired by children’s drawings. 

All proceeds of each piece sold will go to UNICEF in an effort to stop violence against children. As a UNICEF Ecuador Goodwill Ambassador, Hoyos designed the sculptures specifically for the organization.

“This event was a monumental occasion for Bijou Bay Harbor and the island community,” said Robert Morales, vice president of operations for Ability by Acierto. “The transformation of Bay Harbor Islands has been nothing short of phenomenal. We know Bijou Bay Harbor will be an integral element in the city’s continued growth.”

Liza Hernandez

 Bijou Bay Harbor is the first South Florida development project from Ability by Acierto. The U.S. development company founded by respected mega-developer Juan Carlos Gonzalez has partnered with Conexo Inmobiliario. Andres Arias, founder of Conexo Inmobiliario, will serve as the president of new developments for Ability by Acierto.

Bijou Bay Harbor will feature 41 private residences, including five penthouses with open and light layouts. 

Floorplans range from 900 to just over 2,000 square feet. Prices begin in the mid-$600,000s and rise to $2 million for the penthouses.

Residents will enjoy boutique island living and casual elegance in the Bay Harbor Islands community. This walkable, urban enclave features upscale shops and dozens of restaurants, while the bustling Kane Concourse and the affluent shopping of Bal Harbour Shops is just steps over the Intracoastal Waterway. There’s also convenient access to Surfside, Aventura and Miami Beach.

“We’re really looking forward to the next phase of Bijou Bay Harbor as we get ready to break ground,” said Liza Hernandez, director of sales. 

“It will be amazing to see this project come to life. Bijou will be the monument for luxury, taste and design on the island. We are bringing a new standard of design and development to Bay Harbor Islands.”

  

Robert Morales

With Bijou Bay Harbor as its debut project, Ability by Acierto seeks to expand its development portfolio.

The Gonzalez name has been associated with some of Colombia’s most successful residential and commercial development projects. 

His firm, Acierto Inmobiliario, is the nation’s second-largest development company and has built 10 million square feet of commercial and residential projects. 

Destinations include Torre Empresarial Porvenir, and the popular Centro Comercial Sao Paulo mall in Medellín. In Bogota, the firm built the Country Reservado, Avenida 68 and El Bosque condominium.

 Bijou Bay Harbor is located at 9521 E. Bay Harbor Drive, Bay Harbor Islands, FL 33154. For sales information, please visit www.bijoubayharbor.com or contact Director of Sales Liza Hernandez at 305- 864-2220 or Liza@bijoubayharbor.com. The sales center has recently moved to 1050 Kane Concourse.

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

HFF appoints senior managing directors Charles Halladay and Scott Pertel co-heads of San Francisco office

Charles Halladay

SAN FRANCISCO, CA, Jan. 11, 2017 – HFF announced today that HFF senior managing directors Charles Halladay and Scott Pertel have been appointed to co-head the firm’s San Francisco office. 

Mr. Halladay will be relocating from the firm’s Orange County office to San Francisco, where he will lead the office’s debt placement platform, and Mr. Pertel will oversee the office’s investment sales platform.

Mr. Halladay has more than 12 years of experience in commercial real estate, having worked in HFF’s Orange County office since 2005 as a member of their debt placement team.  

During his tenure with the firm, he has successfully transacted more than $10.1 billion in commercial real estate capitalizations.  

Mr. Halladay currently serves as the president of the California Mortgage Bankers Association (CMBA) and is also active in the Urban Land Institute (ULI).  He attended Southern Methodist University.

Mr. Pertel joined HFF in 2015 and has more than 11 years of real estate investment experience.  As a member of HFF’s investment sales team, he focuses primarily on the West Coast industrial market and the U.S. and Canadian net lease market.  Mr. Pertel is an active member of NAIOP’s San Francisco chapter and served as the president of the organization in 2016.  He received his Bachelor of Arts from the University of Colorado Boulder.

Scott Pertel

“These two young men who are assuming leadership of our dynamic San Francisco office exemplify HFF’s team-oriented culture, work ethic and professionalism,” said HFF senior managing director Michael Leggett, co-head of HFF’s West Coast platform.

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 | hfflp.com

ohennessey@hfflp.com

HFF appoints senior managing directors Charles Halladay and Scott Pertel co-heads of San Francisco office

Charles Halladay

SAN FRANCISCO, CA, Jan. 11, 2017 – HFF announced today that HFF senior managing directors Charles Halladay and Scott Pertel have been appointed to co-head the firm’s San Francisco office. 

Mr. Halladay will be relocating from the firm’s Orange County office to San Francisco, where he will lead the office’s debt placement platform, and Mr. Pertel will oversee the office’s investment sales platform.

Mr. Halladay has more than 12 years of experience in commercial real estate, having worked in HFF’s Orange County office since 2005 as a member of their debt placement team. 

During his tenure with the firm, he has successfully transacted more than $10.1 billion in commercial real estate capitalizations. 

Mr. Halladay currently serves as the president of the California Mortgage Bankers Association (CMBA) and is also active in the Urban Land Institute (ULI).  He attended Southern Methodist University.

Scott Pertel

Mr. Pertel joined HFF in 2015 and has more than 11 years of real estate investment experience.  As a member of HFF’s investment sales team, he focuses primarily on the West Coast industrial market and the U.S. and Canadian net lease market.  Mr. Pertel is an active member of NAIOP’s San Francisco chapter and served as the president of the organization in 2016.  He received his Bachelor of Arts from the University of Colorado Boulder.

“These two young men who are assuming leadership of our dynamic San Francisco office exemplify HFF’s team-oriented culture, work ethic and professionalism,” said HFF senior managing director Michael Leggett, co-head of HFF’s West Coast platform.

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 | hfflp.com

ohennessey@hfflp.com

Marcus & Millichap Brokers $1.6 Million Sale of 1,500-SF Avis Budget Car & Truck Rental Absolute-Net (NNN) in Cape Canaveral, FL

Ronnie Issenberg

CAPE CANAVERAL, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Avis Budget Car & Truck Rental Absolute-Net (NNN), a 1,560-square foot net-leased property located in Cape Canaveral, FL. The asset sold for $1,611,000.

  Avis Budget Car & Truck Rental Absolute-Net (NNN) just renewed their lease for an additional five years at 8401 Astronaut Boulevard in Cape Canaveral, FL. 

This is a corporate guaranteed, absolute triple-net lease with 3.5 percent annual increases. The 1.37 acres of land sit in front of State Road A1A, which experiences traffics counts of over 29,000 cars per day.

Ronnie Issenberg and Gabriel Britti, vice presidents investments, along with Pierson D. Tedeschi, associate, in Marcus & Millichap’s Miami office had the exclusive listing to market the property on behalf of the seller, an individual/personal trust.

“The additional Five-year extension on the base term lease, keeping the Option Periods intact, showed the tenant’s commitment to the real estate as an overflow rental facility for the Port Canaveral’s booming cruise industry” says Issenberg.  The asset had multiple full price offers within the first five days of marketing showing the Investor community’s interest in the AVIS / Budget Corporation” adds Britti.

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

Kirk A. Felici

First Vice President/Regional Manager

 Miami

(786) 522-7000

Berkadia Closes on 375 Apartments in Huntsville, AL for $9.9 Million

(DONE DEAL PUBLISHER’S NOTE:  In a posted story on Jan. 8, 2017, http://alex-donedeals.blogspot.com/search/label/Berkadia%20Hillside%20Village%20and%20Twickenham%20Village%20Hunstville%20AL%201-8-17

(Berkadia provided the name of the wrong buyer to Vershel Communications for this transaction. Vershel Communications then forwarded that erroneous information to Done Deals. The erroneously-named buyer was McCreary Realty Management of Marietta, Ga. That company states:

(“McCreary Realty Management of Marietta, GA has been misidentified as the buyer in this transaction. McCreary has NOT purchased these developments and has NO business interests anywhere in Alabama.
Michael A. McCreary, CPM, MPM
President/Owner
McCreary Realty Management, Inc.
www.McCrearyRealty.com”

(Done Deals regrets having published this error.)

David Oakley

 Here is the corrected version of that transaction provided by Berkadia:

BIRMINGHAM, AL --- Berkadia recently negotiated the sale of Hillside Village and Twickenham Village located in Huntsville with a total of 375 apartment units for $9,925,000.00 or $26,396 per unit.

Managing Director David Oakley, Senior Directors David Etchison and David Wilson with the Birmingham office of Berkadia Real Estate Advisors, LLC represented the seller, Huntsville-based Hillside Village, LLC and Twickenham Village, LLC.

Hillside Village, with 223 units is located at 4515 Bonnell Drive, and Twickenham Village with 152 units is located at 5001 Galaxy Way. Both apartment communities were built in 1985.

The buyer, Huntsville-based VCP Twickenham LLC, has plans for exterior and interior renovations.

Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, is an industry-leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties.

For more information on this transaction, please contact:

  

David Oakley, Managing Director – Alabama, 205.918.0785 x1, David.Oakley@berkadia.com

 David Etchison, Senior Director – Alabama, 205.705.3533, David.Etchison@berkadia.com

 Larry Vershel or Beth Payan, Larry Vershel Communications, 407.644.4142 Lvershelco@aol.com 

Australia’s Newest Hotel Brand to Debut in Sydney; Skye Hotel Suites by Crown Group set to open in Parramatta

Skye Hotel Suites, Parramatta, Western Sydney, Australia

Sydney, AUSTRALIA (Jan. 10, 2017)…The Crown Group, the award-winning developer of distinctive residential and commercial properties across Australia, is putting the finishing touches on its new hotel brand, Skye Hotel Suites in Parramatta.

 Set to open in early 2017, Skye Hotel Suites offers 72 luxury suites overlooking Sydney within the new V by Crown Group, a 28-storey luxury residential and commercial development known as Parramatta’s “Vertical Village.”

 

Iwan Sunito

“We can’t wait to welcome our first guests to the new Skye Hotel Suites,” said Iwan Sunito, co-founder and CEO of Crown Group.  “As we did with our innovative residential offerings, we are creating a distinctive hotel experience, delivering a new style of urban luxury that meaningfully connects world travelers with personalized, memorable experiences.” 

Offering unrivaled urban luxury for discerning guests, Skye Hotel Suites brings together the best elements of hospitality: the warmth and personalized service of a boutique hotel; the grandeur and amenities of a luxury hotel; the spaciousness and familiarity of a local apartment; and the relaxing escape of a resort. 

The hotel is located within V by Crown Group, a distinctive new Sydney landmark designed by Allen Jack + Cottier and Koichi Takada Architects.  The tower houses a diverse mix of 590 residence apartments and hotel suites along with an outdoor, 25m swimming pool, fitness centre, entertainment rooms and outdoor spaces. 

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

 杨慧萍

副总裁

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 

Wendover Housing Partners Brings New Affordable Housing Options to Apopka, FL with Wellington Park

Jonathan L. Wolf

ORLANDO, FL  –– Wendover Housing Partners, a privately held real estate development, investment and management company, announces it is breaking ground on a new affordable, family apartment community in Apopka, Wellington Park.

Located at the corner of Thompson Road and East 1st Street, construction on the 120-unit development will be completed in November 2017.

“As with all of Wendover’s family affordable communities, we took time to find the perfect location for Wellington Park—which is close to public transportation, major highways, schools, health care facilities and entertainment options,” said President and Founder of Wendover Housing Partners, Jonathan L. Wolf. “We’ve enlisted Roger B. Kennedy Inc. to build the property, which features the same high quality materials and exciting amenities found in other communities.”

Once completed, Wellington Park amenities will include a swimming pool, fitness center, playground, car care facility and a business center. The community offers one, two and three bedroom apartment homes with open floor plans designed for everyday comfort and convenience. Each unit features energy efficient appliances, walk-in closets and spacious galley kitchens with eating bars, as well as window coverings and washer/dryer connections.

“Our goal is to provide economically viable residences that families are proud to call home—and Wellington Park is another great example of Wendover’s commitment to creating quality housing at affordable prices,” adds Wolf. “In addition to taking advantage of the amenities and green space residents will have at their disposal, Wellington Park residents can engage even more through free enrichment programs and events. We’re building more than apartments, we’re fostering a tight-knit community.”

Wendover will begin accepting rental applications for Wellington Park in August 2017. For additional information about Wendover Housing Partners, visit www.wendovergroup.com.

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

Melissa Landy

Uproar PR for Wendover Housing Partners

321.236.0102 ext. 233

mlandy@uproarpr.com

www.wendovergroup.com

Meridian Completes $4 Million Repositioning of 12,500 SF General Office Building in Palo Alto, CA

  

2626 Hanover Street, Stanford Research Park, Palo Alto, CA

 SAN RAMON, CA - Meridian, a full-service real estate developer and owner of general and medical office real estate, is pleased to announce that it has completed the repositioning of a 12,500-square-foot single-tenant office building located in Santa Clara County at 2626 Hanover Street in Palo Alto, Calif. The building is located in the Stanford Research Park.

Dan Rosenbaum

With a renovation cost of $4 million, Meridian assisted its client in carrying out a complete renovation in six months, both interior and exterior, while the tenant temporarily relocated its staff.

The project had many challenges: multiple stakeholders (landlord, tenant, City of Palo Alto and Stanford University); working with a compressed schedule since there was a hard deadline with the temporary space and a reduced work schedule imposed by the City; obtaining entitlements from the City of Palo Alto and Stanford; and a logistically-challenging site with both exterior and interior improvements having to be addressed  simultaneously. 

According to Dan Rosenbaum, Meridian’s Senior Vice President of Acquisitions in northern California, “This presented an opportunity for Meridian to partner with a landlord to demonstrate its construction and development capacities to meet the challenges of a project requiring extensive renovation, in a tough municipality, a tight labor and subcontractor market, and with extraordinary schedule pressures. The execution capabilities are evident in the on-time/on-budget delivery.”

Mike Conn, Meridian’s Senior Vice President of Development stated, “Creating a culture of open book collaboration and constant communication with all stakeholders is key to achieving success on these challenging projects.” 

Mike Conn

Conn continued, “Working in concert with the City of Palo Alto and Stanford Research Park was critical to obtaining quick approvals for redeveloping this tight general office site. 

"Having strong relationships with our vendors and contractors is critical to a successful project delivery. 

"We could not have done it without the unwavering support and ‘can do’ attitude of our partners KTGY Architecture + Planning and Stevens Hemingway Stevens General Contractors.”

Rosenbaum added, “With more than 300,000 square feet currently in development and redevelopment and another 200,000 square feet in the pipeline, Meridian is still aggressively pursuing more value-add general and medical office opportunities throughout California.”

In the final week of December 2016, Meridian completed the purchase of a six-story 105,000-square-foot office building at 1000 Marina Blvd. in San Mateo County, Calif. The seller was TA Associates, a private equity firm based in Boston, Massachusetts. 

Meridian paid just under $29 million for the 90%-leased building located in the Sierra Point submarket in the city of Brisbane. This purchase represented Meridian’s second major office transaction in northern California since September 2016, when the firm sold The Atrium, a 77,000-square-foot office building in Pleasanton.

  

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

Anne Monaghan

MONAGHAN COMMUNICATIONS, INC.

anne@MonaghanPR.com

830.997.0963

www.mpcca.com.

Lifescapes International Selected to Design Landscaping for $1 Billion Master Planned Development in Rowlett, TX

Rendering of planned $1 billion master-planned Bayside development,
Lake Ray Hubbard area, Rowlett, TX

ROWLETT, TX - Lifescapes International, a Newport Beach-based landscape architectural firm, has been selected to design the overall landscape environment for Bayside, a $1 billion master-planned development encompassing 262 acres that is planned to feature a variety of retail, restaurants, residential units, and a resort hotel in the Lake Ray Hubbard area of Rowlett, Texas.

The development will feature the very first Crystal Lagoon in Texas, which is a new technology that creates man-made lagoons with crystal-clear, turquoise waters in order to transform any development into an idyllic beachfront property.  In addition, the project will feature a 300-foot long fountain with video projections on mist screens for an unrivalled and visually engaging experience.

Julie Brinkerhoff-Jacobs

“The Bayside master-planned development will be the ultimate destination,” says Julie Brinkerhoff-Jacobs, President of Lifescapes International. “The development team of Kent Donahue and Wilks Development are bringing beachfront property to a Dallas submarket, and doing so in a way that is iconic.

“ Guests and residents will enjoy the eight-acre crystal lagoon and fountain, as well as over four miles of lakefront trails, an open-air trolley and a Town Center Park, all surrounded by the most high-quality office, retail, residential, and hospitality product in the market.”

According to Brinkerhoff-Jacobs, Lifescapes was selected for this project based on its extensive experience in designing iconic mixed-use and resort destinations, including The Grove in Los Angeles, The Americana at Brand in Glendale, the Bellagio Resort in Las Vegas, and a number of other resorts along the Las Vegas Strip, and throughout the globe.

Al Amador

“The concept for this project is centered on an immersive experience. 

" For example, the fountain is planned to deliver the most visual water entertainment show in the United States.  

"This fountain will span one acre of land, and will be comprised of 250 water nozzles, 29 fire nozzles and two laser-projected video mist screens, resulting in an entertainment experience like no other,” says Brinkerhoff-Jacobs.

In addition to the fountain, Lifescapes International will design the landscaping for the entire 116 acre peninsula, including 25 acres of parks, a variety of retail rooftop gardens and beach zones, and the perimeter of the eight-acre crystal lagoon.

According to Al Amador, Senior Principal and lead designer for the project, Lifescapes is planning a series of outdoor amenities surrounding the lagoon, including private beach clubs, cabanas, poolside areas, and terraced gardens overlooking the lagoon.

“Our design concept centers on the water feature,” explains Amador.  “We plan to create a series of terraces and rooftop gardens, giving all restaurants and retail shops a clear view of the spectacular water show.”

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

Katie Kea or Lexi Astfalk

Brower, Miller & Cole

(949) 955-7940

kkea@browermillercole.com

www.lifescapesintl.com.

Hold-Thyssen completes New Long Term lease with Club Pilate in Newly Redeveloped Orange Avenue Corridor of Winter Park, FL

 

Darby Hold

WINTER PARK, FL --- Hold-Thyssen, Inc., a full service commercial real estate firm based in Winter Park, recently negotiated a new five-year lease agreement for a pilates studio franchise in the heart of Winter Park at 1222 N. Orange Ave.

Darby Hold, lease consultant for Hold-Thyssen, negotiated the transaction on behalf of the landlord, Maltabes Family Living Trust.   Billy Rodriguez with BluRock Commercial Real Estate represented the tenant.

Pilates at the Park, LLC d/b/a Club Pilate, leased 3,600 square feet of retail space adjacent to the Ravenous Pig restaurant.   

Club Pilate, which has more than 360 locations in 28 states, was named among 2016’s Top New Franchises by Entrepreneur.

Hold-Thyssen, Inc. provides commercial property leasing, management and brokerage services to institutional and private investor clients nationwide. 

 The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States.

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

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