HFF secures $50 million financing for oceanfront residential development in Kiawah Island, SC

  

Kiawah Island, SC

  

Vicky Schiff

LOS ANGELES, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $50 million in financing for the development of Timbers Kiawah – Ocean Club & Residences, a private oceanfront residence club on Kiawah Island in South Carolina.

Ethan Penner

HFF worked exclusively on behalf of the borrower to secure construction financing from Mosaic Real Estate Credit, LLC, a firm co-founded by industry veterans Ethan Penner and Vicky Schiff.

Timbers Kiawah – Ocean Club & Residences, due for completion in summer 2018, will consist of a total of 21 fractional-ownership residences across three residential buildings, each with six ocean residences on the first three levels and an expansive fourth-floor ocean penthouse.

 As one of the few remaining oceanfront parcels on the island, the 3.5-acre development site is ideally situated at the end of Beachwalker Drive and Duneside Road on the most southwestern end of the 10-mile, crescent-shaped Kiawah Island Beach. 

The location offers convenient access to downtown Charleston and nearby shopping and dining amenities located at Freshfields Village, as well as 123 acres of parks, hiking and biking trails, 24 tennis courts and five world-class golf courses.

Paul Brindley

Units will provide access to a wide range of luxury amenities, including a spacious clubhouse with a central lounge area, owner services team, valet, bar and temperature-controlled owners’ wine wall, state-of-the-art fitness facility and children’s playroom.

  A private, ocean-front beach club will offer owners a luxurious swimming pool with terraced bar and grill that is steps from the beach.  

Owners at Timbers Kiawah will be members of the Timbers Collection, offering a host of perks and privileges from some of the most recognized travel and lifestyle partners around the world, as well as the opportunity to trade vacation time with other owners through the Timbers Reciprocity Program and experience destinations throughout the portfolio.

The HFF debt placement team representing the developer was led by senior managing director Paul Brindley, director Cory Fowler and associate director Brad Greenway.

For more info on Timber Resorts, please visit www.timbersresorts.com,

 www.facebook.com/timbersresorts, www.twitter.com/timbersresorts and www.pinterest.com/timbersresorts.

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

Olivia Hennessey

Public Relations Specialist

HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

Anantara Vilamoura Algarve Resort Launches in Portugal Bringing Authentic Luxury to Europe

Anantara Hotels, Resorts & Spas, Portugal

 

Chef Bruno Viegas

 ANANTARA VILAMOURA, PORTUGAL, April 12, 2017 -- Making its debut into Europe, Anantara Hotels, Resorts & Spas brings its authentic luxury to southern Portugal’s picturesque Algarve coast with the launch of Anantara Vilamoura Algarve Resort.

Nestled amongst orange grove trees and undulating wetlands, the resort brings to life Anantara’s ethos of connecting modern travellers with authentic destinations and ensures the brand’s signature Thai hospitality is paired with indigenous style and flavour.

Just a 15-minute drive from Faro International Airport, Anantara Vilamoura is located close to the ocean, marinas and beaches of the Algarve and boasts stunning views of the Arnold Palmer- designed Oceânico Golf Course.

Culinary excellence is at the heart of the Portuguese culture. Using his deep expertise in Portugal’s culinary traditions, Executive Chef Bruno Viegas has woven his passion throughout Anantara Vilamoura’s six bars and restaurants.

A new wine oriented restaurant concept comes to life at EMO, where Bruno and the resort’s Wine Guru António Lopes have masterfully created a menu that reflects the terroir heritage of the region.

 Focusing on Portuguese grape varieties and local produce, the duo elegantly pair dishes such as Braised Turbot, Salt Cod Loins and Pata Negra Ham with a selection of over 300 accompanying wines from the region, allowing diners to truly savour the tastes of the country.

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

Hwee Peng Yeo

Vice President

Glodow Nead Communications

hweepeng@glodownead.com

 www.GlodowNead.com

29th Street Capital Acquires 12th Bay Area Multifamily Property

Panoramic Apartments, San Leandro, CA

Casey Davis

San Leandro, CA – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Panoramic and Miramar Apartments in San Leandro, California.

The 79-unit community consists of two neighboring properties - Panoramic and Miramar - that sit side-by-side on Miramar Avenue and operate as one entity. It offers one- and two-bedroom units and is located immediately north of Hayward, where 29SC currently owns and operates five other multifamily communities.

29SC plans to strategically invest $2.3 million in capital improvements. Interior upgrades will focus on kitchens, bathrooms, energy-efficient windows and flooring. Exterior improvements will include structural repairs to walkways and railings, plus upgrades to the landscape, parking area and pool.

“We are thrilled to continue to grow in the East Bay and its surrounding submarkets,” said Casey Davis, 29th Street Capital’s Vice President of Acquisitions for Northern California. “This community presents a unique opportunity to demonstrate our value-add capabilities in a very attractive submarket with positive economic fundamentals.”

The East Bay and its neighboring submarkets have experienced significant economic and employment growth in recent years, which has resulted in a very tight rental market as housing demand continues to outpace new supply. As rents continue to rise in San Francisco, Oakland and Silicon Valley, San Leandro offers a more affordable option for workers and families.

“San Leandro is a great alternative to the nearby major cities,” Davis added. “The community has convenient access to a variety of transportation options as well as a strong base of employment opportunities.”

The transaction closed Apr. 10. The sale price was not disclosed.

29th Street Capital acquired 15 multifamily assets over the past 12 months and continues to actively pursue additional opportunities throughout the U.S. The firm will continue to target strategic value-add deals that are below the institutional radar, with the intention of offering its investors above-market returns.

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

Terri Thornton

Partner, Thornton Communications

Phone: 404-932-4347

Email: Terri@TerriThornton.com

 Website: www.TerriThornton.com

www.29thstreetcapital.com.

The Hitting Academy Opens 14,000-SF Site at Kingsway Plaza in Brandon, FL

Rob Ciaravino

BRANDON, FL -- The Hitting Academy has opened in 14,000 square feet at Kingsway Plaza in Brandon. Also new to the center is a Circle K convenience store.

 The Academy deal was brokered by Pattie DeWitt of Florida Retail Partners representing the Landlord. Adding an entertainment component to the center appeals to millennials for whom statistics show want more entertainment options in their shopping experience.

 “This is great news for the community,” according to DeWitt. “The Hitting Academy brings substantial traffic to the center benefitting all our retailers while providing a fun service to the community.

Kingsway Plaza recently underwent substantial renovation to better serve its tenants and their customers. The renovations included upgrading the parking lot, new site lighting, landscaping and tenant signage.

 Florida Retail Partners, an X Team partner has turned around the once struggling Kingsway Plaza, a 78,000 square foot retail center in Brandon, FL. bringing a myriad of new tenants including a solid anchor tenant in Dollar Tree.

“For years, I knew the next location for The Hitting Academy was Brandon, said Academy owner Rob Ciaravino. After searching the market for the best available space, Kingsway Plaza seemed to be the best fit.

“With a large amount of families in the immediate area and the latest improvements to the shopping center, we felt this would be a superb location for our 3rd location.

"Things are going great at our new Brandon location and we are looking forward to helping all of the baseball and softball players in the area for years to come.”

Kingsway Plaza, Brandon, FL

The Hitting Academy is the premier indoor baseball/softball training facility in Tampa Bay with three locations in Clearwater, Tampa and now Brandon. Ciaravino opened his first Academy in Clearwater in 2007 with the goal of helping as many players as possible improve their skills.

 Since that time, The Hitting Academy has worked with many of the top players in the area to become better hitters and overall athletes.  

They train athletes of all ages and skill level from serious training to just having fun. 

They have created a great learning environment by understanding that most people (especially kids) are visual learners, and to nurture that use video analysis in all private hitting lessons.

X Team partner Florida Retail Partners was founded in 1997 and currently has four Florida Retail Real Estate Specialists all with over twenty years of experience.  The company’s focus has always been on retail tenant and landlord representation on Florida’s West Coast and Central Florida.

This exclusive focus on retail includes diverse assignments ranging from tenant representation, land sales and consulting to leasing of both distressed properties in need of turnaround and upscale mixed-use projects with very specific co-tenancy parameters.

      

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

  

tyoungman@assetmarketingonline.com

HFF hires Garrett Gilleland to focus on land investment sale transactions in Austin. TX office

            

Garrett Gilleland

AUSTIN, TX, April 11, 2017–– Holliday Fenoglio Fowler, L.P. (HFF) announced today that Garrett Gilleland has joined its Austin office as an associate director focused on land investment sale transactions in the Central Texas corridor and San Antonio.

Mr. Gilleland joins HFF from ARA where he was an associate representing land owners and purchasers.  Prior thereto, he was in a similar role as an associate at CBRE focused on land investment sale transactions.  

He is a licensed real estate salesperson in Texas and holds a Bachelor of Science from the University of Texas.  Additionally, Mr. Gilleland is a member of the Real Estate Council of Austin and Urban Land Institute.

“HFF has enjoyed ongoing success and expansion in our local Austin office,” said Sean Sorrell, senior managing director and co-head of HFF’s Austin office.  “We view a land specialist such as Garrett, as a critical component in our desire to provide our clientele comprehensive services for their investment needs.” 

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

Kristen M. Murphy

Director, Public Relations

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

RECI Reports Hawkish Fed Statements in March Push Up Benchmark Rates

Jeanne Peck

Chicago, IL - Real Estate Capital Institute reports most of March, benchmark rates “marched” upward in step with the second Fed rate hike prompted by continued economic growth.  Due to hawkish Fed statements, pundits expect rates to reach a 3%-handle for longer term debt based upon the current trajectory.  

In the face of rising rates, and correspondingly lower financing demand, how are various funding sources re-tooling to remain active?  The following summary tackles key players active in the permanent financing arena:

CMBS:  Numerous borrowers with maturing conduit debt are unable to effectively restructure their loans per currently stringent underwriting requirements.  Major financial institutions and banks issue bonds, keeping the vertical strip and maintaining strong relationships with horizontal strip investors per risk retention guidelines.  Pricing is tighter, resulting from higher quality loan offerings.  Leverage up to 75% is available for premium deals, but 70% is more common.

Agencies: “Workforce” and “affordable” are the two most important words when discussing best pricing and terms for multifamily housing with the agencies.  The GSEs are very focused on meeting their housing goals, as well as energy efficiency to various “green” program discounts.  Discussions surface about more creative options including construction loan and pre-stabilization funding. 

FHA/HUD:  HUD continues to offer the most attractive leverage and pricing.  However, the longer closing timeline is the major factor influencing borrowers seek traditional financing alternatives.  Some of the more competitive seller/servicers now offer Bridge-to-HUD funding options to allow more borrowers to use interim debt while the HUD funding process is in play, expanding the possibilities for using this financing vehicle for property acquisitions.

Life Companies:  Armed with ample allocations of mortgage funds, LifeCos offer the best rates, in return for providing lower leverage.  Lower-100-basis-point spreads are surfacing, as spreads tighten between competing LifeCos.  Longer term dollars are plentiful.  Multiple players supplement are highlighting their transitional bridge product.

Banks:  The most traditional construction and short-term lenders, banks, stay focused on compliance within a more restrictive regulatory environment. Cautiously active on new construction with lower loan-to-cost fundings generally reserved for the “best” customers.  Pricing is still very favorable starting spreads of 300 basis points over Libor.  

Term loans up to seven years are available for balance sheet lending, although interest rates swaps will be required to protect fixed-rate risk.  Small regional and community banks may be more aggressive on term and leverage, but generally limited to loans of $15 million or less.

Debt Funds:  Helping borrowers with loans that the aforementioned funding sources find challenging, debt funds provide higher leverage needs and more structured fundings such as preferred equity, mezzanine, and bridge loans.  Pricing is 100 to 300 basis points or more versus regular sources.

  

Ms. Jeanne Peck, director of the Real Estate Capital Institute®, states “Debt funds and smaller community banks are the sources to watch for more flexibility, leverage as more creative underwriting solutions are needed, instead of tighter pricing restricted by lower leverage.”

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

Jeanne Peck, Executive Director

director@reci.com

 www.reci.com

Keystone Development Site Unveiled in Atlanta’s Old Fourth Ward

Scott Cullen

ATLANTA, GA  – Georgia Power, a subsidiary of Southern Company, has hired commercial real estate firm JLL to market its property located at 760 Ralph McGill Boulevard in Atlanta, with the intent of gauging interest for redevelopment.

Branded by JLL as Eastline at Fourth, the property represents a keystone development opportunity in the red hot Old Fourth Ward neigborhood. JLL’s Scott Cullen, Mark Lindenbaum, and Leigh Martin will oversee the marketing, developer selection and sales process for the property.

Project details can be found at www.eastlineatfourth.com. A formal bidding process is outlined in JLL’s materials, which indicates bids should to be submitted by Wednesday May 24th.

“The city has made significant infrastructure investments in this submarket, allowing the area to evolve into one of the most dynamic in the City. This, along with recent demographic, employment and population trends, creates a tremendous development opportunity,” said JLL’s Scott Cullen.

Mark Lindenbaum

“The fundamentals of the property suggest a dense, mixed-use project given its Atlanta Belt Line adjacency, Historic Fourth Ward Park frontage, multiple surface street connections, and a potential future light rail station,” said JLL’s Mark Lindenbaum.

“We expect interest from local, regional, and national developers. The site is positioned well to capture the continued growth and demand for intown Atlanta projects,” said JLL’s Leigh Martin.

Located adjacent to The Atlanta BeltLine’s Eastside Trail and Historic Fourth Ward Park, the 10.2 acre parcel can potentially be redeveloped with a mix of residences, offices, hotel rooms, and retail space.

 The Atlanta BeltLine has earned national recognition for urban redevelopment and mobility.

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

Adrienne Heintz

Skyline, A Wilbert PR Company

(o) 404-260-6438

(c) 404-384-2210

Regency Centers Announces Development of Pinecrest Place in Miami, FL

Paul Maxwell

MIAMI, FL, April 10, 2017 -- (BUSINESS WIRE)-- Regency Centers Corporation (“Regency” or the “Company”), a national owner, operator, and developer of grocery-anchored shopping centers, has announced the start of a new ground-up development in Miami, Florida.

 Pinecrest Place, with estimated net development costs of $16.4 million, will be adding 70,000 square-feet of high quality retail to an existing 173,000 square foot Target, anchored by a new, 46,000 square foot flagship Whole Foods Market. Construction completion is expected in the second quarter of 2018.

“Pinecrest Place is an ideal blend of best-in-quality anchors with substantial parking, and visibility from the heavily travelled US-1 commercial corridor south of Miami,” said Paul Maxwell, Vice President of Investments for Regency Centers.

“The shopping experience will be a powerful reflection of the lifestyles and wants of the affluent communities surrounding the shopping center, providing a superior anchor lineup with complimentary restaurants and small shop retail.”

Strategically located off of US-1 (S. Dixie Highway), Pinecrest Place will benefit from a traffic count that exceeds 90,000 cars per day in one of the strongest trade areas in Southeast Florida. A surrounding daytime population of over 120,000 bolsters an active and affluent residential market with average household incomes over $130,000 in the trade area.

For leasing inquiries, please contact Matt Hagan at MattHagan@RegencyCenters.com,

 or 561-630-2345.

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

Regency Centers Corporation

Eric Davidson, 904-598-7829

Communications Manager

EricDavidson@RegencyCenters.com

or

Paul Maxwell, 561-630-2324

Vice President, Investments

PaulMaxwell@RegencyCenters.com

Stos Partners Completes Three Commercial Property Deals in Southern California

  

Walnut Auto Center,  19116-19130 East Walnut Drive, in Rowland Heights, CA

  

CJ Stos

SAN DIEGO, CA  – Stos Partners, a privately held commercial real estate investment and management firm, has completed three commercial property transactions in Southern California, including the sale of a multi-tenant industrial asset in Rowland Heights, the acquisition of a single-story office building in Encinitas, and the acquisition of a two-story office building in San Dimas, California.

“The market is moving at a rapid pace and our firm is well-positioned to leverage that momentum with strategic transactions,” says CJ Stos, Principal of Stos Partners. “We completed six transactions in the first quarter of 2017, and we continue to actively pursue opportunities that match our investment thesis.”

Stos Partners’ investment platform centers on recognizing inherent value. The firm is actively acquiring industrial, office, and mixed-use properties in coastal and urban areas of Southern California that are well-located but in need of hands on management to realize full asset value.

Stos Partners’ three recent transactions include:

Sale of Multi-Tenant Industrial Property in Rowland Heights       

            Stos Partners recently sold the Walnut Auto Center, a multi-tenant industrial property in Rowland Heights, California for $6.6 million. Stos had acquired the asset in 2015 in an off-market transaction for $5 million.

Taylor Ing

            The 30,216 square-foot property, which is comprised of eight automotive services tenants, was acquired by a private investor.

            Walnut Auto Center is located at 19116-19130 East Walnut Drive, in Rowland Heights, California.

Acquisition of Two-Story Office Building in San Dimas

            Stos Partners also acquired a vacant 50,643 square-foot office building previously owned by ITT Technical Institute in San Dimas, California. Stos acquired the asset through a trustee sale for $5 million.

            Taylor Ing, Managing Director at Newmark Grubb Knight Frank, represented Stos Partners in this transaction. The property is located at 650 West Cienega Avenue in San Dimas, California.

Acquisition of Downtown Encinitas Office Building

            Stos Partners also acquired a vacant office building in downtown Encinitas from an owner-user for $2 million.

The 3,400 square-foot office building is located at 655 Second St in Encinitas, California.

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

Lauren Burgos / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

lburgos@browermillercole.com

         

www.stospartners.com.

Trion Properties Expands Bay Area Portfolio; Acquires Value-Add Multifamily Communiity in San Leandro, CA for $36.6 Million

Bel Brook and Hideaway Apartments, San Leandro, CA

Max Sharkansky

SAN LEANDRO, CA – Trion Properties, a private equity real estate firm with a niche focus on value-add multifamily investments, along with its joint-venture partner DVO Real Estate, a New York-based private real estate investment firm, has acquired Bel Brook and Hideaway Apartments, a 146-unit value-add multifamily property at 77-85 Estabrook Street in the San Leandro submarket of the East Bay, for $36.6 million.

This is Trion Properties’ fourth Bay Area acquisition in less than 15 months, bringing its existing Bay Area multifamily portfolio to a total of 262 units, according to Max Sharkansky, Managing Partner at Trion Properties.

            “San Leandro is thriving and experiencing tremendous revitalization, making it poised for long-term growth and investment potential,” says Sharkansky. 

“Located in the heart of the dynamic East Bay, this property is within walking distance to a BART station and a mile away from the San Leandro Technology Campus, a 750,000 square-foot mixed-use development which will bring an estimated 1,800 tech jobs to the area.

“The enormous job growth throughout this region is driving demand for quality housing located in close proximity to transit options and major employers.”

            Sharkansky notes that the entire East Bay is undergoing rapid growth as major tech giants and employers expand their presence in this region. Uber will relocate its corporate headquarters to Oakland, while Tesla has brought thousands of high paying jobs to Fremont.

Mitch Paskover

            In addition to the region’s technology sector growth, San Leandro is home to three of the Bay Area’s largest craft breweries, a thriving downtown district with a host of retail and restaurant amenities, and the San Leandro Monarch Beach, a 40-acre mixed-use development anticipated to break ground this year.

“We are bullish on the East Bay and have a proven track record in this market,” continues Sharkansky, who notes that Trion recently acquired two value-add multifamily assets in Hayward and San Leandro last year.

“This property is located only a block away from our Metro348 property on the same street. Metro348 boasts a strong and diverse mix of tenants, many of whom work in the technology and healthcare industries, including employers such as Uber, Kaiser, and GE Health. 

"Based on our enormous success in repositioning our existing Metro348 asset, the Bel Brook and Hideaway Apartments presents a unique opportunity for us to execute a similar value-add investment strategy and capitalize on the tremendous growth of this region, enabling us to generate strong cash flow and risk-adjusted returns to our investors.”Trion Properties and joint-venture equity partner DVO Real Estate acquired this property from the John Sullivan family.

 

Brad Lehman

Acquisition financing was arranged by Continental Partners through NXT Capital. John Leyvas Jr. and Brad Lehman of Newmark, Cornish and Carey represented both the buyer and the seller in this transaction.

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.

DVO’s team is made up of highly experienced real estate investors with more than 100 years of combined experience in the industry, including 30,000+ apartment units and $6+ billion of real estate and private equity transactions. Additional information is available at www.dvorealestate.com  or by calling +1.212.391.0902.

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

Lauren Burgos / Katie Kea

Brower, Miller & Cole

(949) 955-7940

lburgos@browermillercole.com

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

HFF closes sale of 4-building industrial distribution center in Houston, TX

 

Four Distribution Warehouses, West by Northwest Industrial Park, Houston, TX

                                                                                                                  (Photo by Jud Haggard)

 

Rusty Tamlyn

HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of four Class B distribution warehouses totaling 809,196 square feet in the West by Northwest Industrial Park in Houston, Texas.

HFF represented the seller, TH Real Estate an affiliate of Nuveen (the investment management arm of TIAA).  Prologis, Inc. purchased the property for an undisclosed price. 

The property comprises buildings at 14902 and 15002 Sommermeyer, 6450 Clara and 10410 Papalote in Houston’s Northwest Industrial submarket.  The buildings are situated on 39.6 acres near the intersection of Beltway 8 and U.S. 290, considered the “main and main” intersection for bulk industrial product.

 The front-load distribution buildings feature 14.2 percent office finish and clear heights ranging from 20’ to 24’.  Currently 95 percent leased, property tenants include Tercel Oilfield Producers USA, LSI Integrated Graphics, Sweet Mesquite Baker, Mason Road Sheet Metal and Southern Container.

HFF’s investment sales team was led by senior managing director Rusty Tamlyn and director Trent Agnew.

“Given its location, historical occupancy and institutional maintenance ownership, this collection of assets generated significant interest from the investment community,” Tamlyn said.  “Prologis now owns 24 of the 26 assets in this business park and has a long history in the area, so they were a logical buyer.”

Trent Agnew

“The fact that this property generated more than 10 offers from a mix of institutional capital is a statement on how the Houston industrial market is viewed currently,” Agnew added.  “There is a significant amount of capital to be deployed with few opportunities of scale like this presented, especially in Houston’s top submarket.”

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

Kristen Murphy

Director, Public Relations

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

tel 617.848.1572 | cell 617.543.4873 | www.hfflp.com

krmurphy@hfflp.com

www.prologis.com.

https://www.threalestate.com.

HFF arranges $290 million financing for luxury mixed-use development in Manhattan’s Upper East Side

151 East 86th Street, Upper East Side, Manhattan, NY 

                                                                                               (Rendering by HOK Architects) 

David Nackoul

NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $290 million in financing for the development of 151 East 86th Street, a luxury mixed-use residential and retail project in Manhattan’s Upper East Side neighborhood.

HFF worked on behalf of the developer, a joint venture between Ceruzzi Holdings LLC (Ceruzzi) and Kuafu Properties (Kuafu), to secure the construction loan with a foreign capital source. HFF previously sourced financing on Ceruzzi’s behalf for its acquisition of the site in 2014.

151 East 86th Street is situated at the corner of 86th Street and Lexington Avenue. The project will include a combination of luxury residential totaling 151,500 square feet and two stories of ground-floor retail totaling 30,600 rentable square feet.

 Complementing the retail base will be 61 luxury condominium units averaging 2,485 square feet with top-of-the-line finishes and floor-to-ceiling windows offering sweeping views of the Manhattan skyline and the East River. 

Resident amenities will include concierge service and 6,500 square feet of amenity space, including a state-of-the-art fitness facility, lounge, rooftop terrace and children’s playroom.  Due for completion in first quarter 2019, the 18-story building has been designed by world-famous HOK Architects with interiors by the renowned design firm Shelton, Mindel & Associates.

Christopher Peck

HFF’s debt placement team was led by senior managing director David Nackoul, managing director Christopher Peck and associate Scott Findlay.

“The Upper East Side is a unique and sought-after area where the opportunity to develop from the ground-up rarely presents itself, especially on a prime corner such as 86th and Lexington,” said Peck.  

“Ceruzzi and Kuafu managed to create and execute on a very complex structure, and it was a privilege to help them capitalize on this vision with a single source of debt capital.”

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

Olivia Hennessey

Public Relations Specialist

HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

www.kuafuproperties.com.

HFF closes sale of Boulder, CO multi-housing community

Tantra Lake Community, Boulder, CO

Matthew Lawton

CHICAGO, IL  – Holliday Fenoglio Fowler, L.P. (HFF) announced  it has closed the sale of Tantra Lake, a 185-unit, garden-style multi-housing community in Boulder, Colorado.

HFF represented Waterton in the sale of the property to the Boulder Housing Authority.  The property was sold free and clear of debt.

Tantra Lake is situated on 10.9 acres at 1000 West Moorhead Circle, approximately three miles southeast of downtown Boulder and the University of Colorado Boulder campus. 

The property’s location provides easy access to U.S. 36 and all of Boulder’s employment, educational and recreational amenities.  Tantra Lake comprises a total of 301 units, of which 116 are individually owned as condominiums located in separate buildings.

 The 185 apartment units included in this transaction feature a variety of one-, two- and three-bedroom floor plans averaging 812 square feet each. 

Community amenities include a heated indoor swimming pool, hot tub, outdoor basketball and tennis courts, grilling areas, playground, 24-hour fitness facility, resident lounge, business center, manmade lake and sweeping views of the Rocky Mountains.

The HFF investment sales team representing Waterton was led by executive managing director Matthew Lawton along with managing director Jordan Robbins.

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

Olivia Hennessey

Public Relations Specialist

HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

www.waterton.com

HFF closes sale of 1 Gatehall Drive in Parsippany, NJ

                           

1 Gatehall Drive, Parsippany, NJ

 

Jose Cruz

FLORHAM PARK, NJ  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of 1 Gatehall Drive, a 114,000-square-foot, four-story, Class A office building in Parsippany, New Jersey.

HFF represented the seller in the sale of the property to Lincoln Property Company.

1 Gatehall Drive is situated along Route 202, in close proximity to Route 10 and Interstates 287 and 80. Renovated in 2004, the Energy Star-rated building features a two-story lobby atrium with skylight, well-appointed common areas, shared conference room, dining area and a fitness center.

1 Gatehall Drive also shares a fountain courtyard with an adjacent office building and is next door to a Marriott Residence Inn.  Tenants at the 63-percent-leased property include software, consulting, communications, staffing and foodservice tenants.

The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn and directors Stephen Simonelli and Michael Oliver.

“This sale further exemplifies the demand for well-located value-add office buildings in Northern New Jersey where the buyer can continue to improve the property,” Cruz said. 

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

Olivia Hennessey

Public Relations Specialist

HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

.

HFF secures $124.5 million financing for three Class A office buildings in Northern New Jersey

51, 101 and 103 JFK Parkway,  Short Hills, NJ

FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $124.5 million in financing for 51, 101 and 103 JFK Parkway in Short Hills, New Jersey.

Working on behalf of the borrower, Mack-Cali Realty Corporation, HFF placed the 10-year, fixed-rate loan through Citi and Goldman Sachs & Co.  Loan proceeds were used to acquire the properties, which were part of a larger six-property portfolio that HFF sold to Mack-Cali on behalf of RXR Realty.

Jon Mikula

The properties are located in Short Hills, along the high-growth Route 24 Corridor, which is close to the affluent residential communities of Millburn, Summit, Livingston, Chatham and Florham Park, plus The Mall at Short Hills; the downtown areas of Morristown, Madison and Summit and the retail offerings along Route 10. 

Built between 1981 and 1988, the properties are fully leased to major tenants, including KPMG, Merrill Lynch, Wells Fargo, Dun & Bradstreet and Investors Bank.

The HFF debt placement team representing the borrower was led by senior managing director Jon Mikula. 

“We were excited to help Mack-Cali with its acquisition of the Short Hills assets, which are some of the premier Class A office buildings in the state,” stated Mikula.

“This acquisition signifies Mack-Cali’s substantially expanded presence in the affluent Short Hills submarket—positioning us as the owner of nearly all of the Class A office space, as well as some of the most premier assets in the Madison submarket,” said Michael J. DeMarco, Mack-Cali President. 

“This transaction exemplifies our strategy of owning only the best assets in strong markets that offer tenants state-of-the-art office spaces with a suite of first-class amenities.”

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

Olivia Hennessey

Public Relations Specialist

HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

www.mack-cali.com

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