29th Street Capital Acquires Sugarloaf Trails Apartment Homes; Community is Firm’s Eighth Atlanta-Area Property

Sugarloaf Trails Apartment Homes, Duluth, GA

Duluth, GA – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Sugarloaf Trails Apartment Homes in Duluth, Georgia.

Duluth is one of the fastest growing suburban communities in Atlanta and is located within the highly-regarded Gwinnett County School District. The 268-unit community was constructed in 2000 and offers one-, two-, three- and four-bedroom units.

Javier Bustillo

29SC plans to implement a $1.2 million capital improvement program to improve curb appeal, property amenities and unit interiors. 29SC will also implement energy-efficient upgrades through the Freddie Mac Green financing program.

“We are excited to expand our presence in Atlanta through the acquisition of Sugarloaf Trails,” said Javier Bustillo, 29th Street Capital’s Senior Vice President of Acquisitions for Atlanta and Houston. 

“We really like the fundamentals of this submarket and the asset’s position within it. We are excited to be able to create value for our investors and close on another community that fits our company’s vision.”

Sugarloaf Trails is located approximately 30 miles northeast of downtown Atlanta and is adjacent to I-85. The Duluth submarket has experienced positive rent growth since 2011, including surpassing at least 6% annual growth each year since 2013. As rents continue to increase, Sugarloaf Trails provides one of the most affordable rental housing options in Duluth for families that are seeking access to one of the top school systems in the state.

“Duluth is a desirable community with great retail, expanding job opportunities and an excellent school system,” Bustillo added. “The property will provide residents with an affordable option to live in a very desirable location.”

The transaction closed Apr. 17. The sale price was not disclosed. The community is located at 2255 Satellite Blvd. in Duluth.

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

MMM Represents WRS, Inc. in Successful Acquisition of Underground Atlanta

Rendering of Underground Atlanta Project, Atlanta, GA

Andrew Williams

Atlanta, GA – The real estate team of Morris, Manning & Martin helped close one of the most  prominent real estate deals in Atlanta recently when it successfully represented WRS, Inc. in acquiring Underground Atlanta from the City of Atlanta.

The deal involved two years of negotiations focused on approximately 40 different parcels of land and included air rights above rapid rail and railroad tracks, underground streets and commercial spaces, abandoned roads and alleys, elevated viaducts, springing property rights, tenancies-in-common between the city and the county, and environmental considerations.

 Interacting with the various applicable governmental entities added further layers of complexity, including zoning issues, political considerations, and accommodations to neighborhood activists. Atlanta Mayor Kasim Reed said earlier this year that it was the most complicated real estate deal the city has ever undertaken.

"There were a lot of twists and turns,” said Andy Williams, who led the MMM team that represented WRS, Inc. “The challenges included the historic nature of the property, including the history of its ownership. It’s honeycombed by rights of way and interests owned by third parties. Because of its configuration, there were a lot of challenges you wouldn’t typically see in an individual deal – or even dozens of deals."

 

Gerald Pouncey

WRS approached MMM to handle the complicated transaction because MMM had the necessary talent, skill and experience that might normally require several different firms.

Gerald Pouncey, who brought WRS to the firm, is known nationally for his environmental work in real estate deals. Given the many uses of the land before the transaction, this proved to be critical – as did the firm’s transactional, zoning, litigation and corporate experience.

"MMM has all the various disciplines that came up, and had to be addressed, under one roof,” Williams said. “We were particularly well-equipped to handle this."

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

Pollack Shores to Begin Construction of New Luxury Apartments on Lake Gem

  

 

Steven Shores

 ATLANTA, GA – Multifamily developer Pollack Shores announced plans to build a luxury apartment community on a premier lakeshore location in Maitland, Florida. Future residents will have ample views and access to the lake, including walking and biking trails, kayaks, canoes and paddle boats, and a newly rebuilt fishing dock

The Class A community will begin to rise within the next 60 days once demolition of the former Maitland Shores apartments is complete. Pollack Shores acquired the vacant 1960s-era complex next to Lake Gem from SES Group Maitland Shores Ltd., and is expected to launch the project within the next week.

The 238,000-square-foot development on Lake Avenue will consist of three buildings that feature a variety of top-shelf amenities and stunning lakeshore views for residents. Plans also call for a new lighted biking and pedestrian trail that will connect to the city of Maitland’s trail just east of the property.

“This site checked all the boxes for our development strategy, and we’re pleased to offer a beautiful lakeside community that provides convenient access to a full range of lifestyle options for future residents,” said Pollack Shores President and Co-Founder Steven Shores. “The city of Maitland has been a great partner in this process, and we look forward to expanding our footprint in greater Orlando.”

Poole & Poole Architecture is handling design for the project, while Oxford Construction will serve as general contractor. Matrix Residential, a subsidiary of Pollack Shores, will add the development to its award-winning portfolio of luxury properties the company manages across the Sunbelt.

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

Liana Moran

The Wilbert Group

404-748-1367 (O) 770-905-9915 (C)

lmoran@thewilbertgroup.com

www.pollackshores.com.

HFF appoints Chris Collins as an associate director in its San Diego, CA office

Chris Collins

SAN DIEGO, CA, April 19, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has appointed Chris Collins as an associate director in its San Diego office.  Mr. Collins will focus on middle market debt and equity placement transactions throughout the western United States.

Mr. Collins has been with HFF since 2014 as a senior real estate analyst and has more than five years of experience in commercial real estate finance.  Prior thereto, he was a real estate analyst at La Jolla Capital, a boutique commercial real estate finance firm focused on middle market apartment transactions.

 He is a member of NAIOP Developing Leaders and the International Council of Shopping Centers (ICSC).  Mr. Collins graduated with a Bachelor of Science from Colorado State University.

“We are excited to have Chris join the production team here at HFF and to help build the HFF client base out of San Diego,” said Aldon Cole, senior managing director and head of HFF’s San Diego office.  “As a professional, he has grown from playing a key support role and has developed a strong command of a wide variety of debt products as well as being integrated into HFF’s structured-finance and equity placement platforms.”

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

American Realty Advisors Announces Headquarters Relocation to Downtown Los Angeles, CA

Stanley lezman

Los Angeles, CA (April 19, 2017) – American Realty Advisors (“ARA”), an institutional capital management firm with more than $8 billion in assets under management, announced today that it will be moving its corporate headquarters from the current location in Glendale, CA to downtown Los Angeles.  The move will be effective June 5, 2017.

In advance of the move, ARA has also completed a major rebranding, which is part of an overall firm-wide initiative to unify the brand and support the growth of the firm.

ARA’s move will be to the 49th floor of 515 S. Flower Street in the City National Plaza. Reflecting the growth, expansion, and strength of the firm, the new headquarters will afford ARA’s investors, business partners, and professionals access to a location in the heart of one of the nation’s largest financial centers.

“Our move to DTLA will accomplish three important factors of the firm’s growth, a focus on sustainability, finding and retaining great talent, and being in the financial center of Los Angeles, where global capital decisions are made,” says Stanley Iezman, Chairman and CEO of ARA.

 “As sustainable business practices are key to our philosophy, DTLA’s connection to the broader transit network throughout Los Angeles allows our employees to commute to the office through a variety of public transportation options.”

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

Lexi Astfalk / Jenn Quader for American Realty Advisors

Brower, Miller & Cole

(949) 955-7940, LAstfalk@browermillercole.com

www.aracapital.com.

The Keyes Company’s Next Gen Group Partners with Move For Hunger

Adam Lowy

MIAMI, FL – The Keyes Company’s “Next Gen” group, which consists of Sales Associates under the age of 40, announces its new partnership with Move For Hunger, a nonprofit organization dedicated to fighting hunger and reducing food waste. 

Move For Hunger works with relocation companies and real estate professionals to collect nonperishable food items and deliver them to food banks across the country.

In 2009, Adam Lowy founded Move For Hunger. His family has owned a moving company for more than 90 years, and after years of seeing so much food wasted when people move, Lowy decided to take action. To date, the organization has collected more than 7.6 million pounds of food, equating to 6.3 million meals for those in need.

“We’re very excited to partner with an organization as great as Move For Hunger,” said Keyes Sales Associate Jason Pappas, who is spearheading the campaign. “This organization is making an incredible difference for our society, and we’re proud to support its efforts to help fight hunger.”

Keyes will be hosting a food drive from April 17-28. For more information on how to participate, please contact Scott Cabrera, Director of Philanthropy, at 305-779-1997.

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

Eric Kalis or Ashley Fierman, BoardroomPR

ekalis@boardroompr.com/afierman@boardroompr.com

954-370-8999

Berger Commercial Realty Secures 20,000 Square-Feet in Hollywood, FL Lease Transactions

Judy Dolan

FORT LAUDERDALE, FL – Berger Commercial Realty/CORFAC International Senior Vice President Judy Dolan recently secured 20,486 square-feet in lease transactions on behalf of landlords in Hollywood.

Sun Art Design Building

Dolan represented Sadi Properties, Inc. in leasing 11,000 square-feet of industrial space to Prime Wood Decking & Floors, LLC at the Sun Art Design Building, located at 2800 to 2808 N. 29th Ave. The 32,000-square-foot building is located just north of Sheridan Street and west of I-95 and offers 24 feet of clear ceiling height, ample parking, and close proximity to Fort Lauderdale / Hollywood International Airport and Port Everglades.

Hollywood Boulevard

Along Hollywood Blvd. in the heart of downtown Hollywood, Dolan represented:

·         Jeffrey Baxt Trust & Danielle Baxt Trust in renewing a lease for 5,532 square-feet of retail space to Spice Resto-Lounge, Inc. at 1934 Hollywood Blvd.;

·         1936-1938 Hollywood, LLC in renewing a lease for 2,750 square-feet of retail space to DES Investments Group, Inc. at 1936 Hollywood Blvd.;

·         and Zahava Halpern Residuary Trust in renewing a lease for 1,204 square-feet of retail space to PRLEuro Café, Inc. at 1904 Hollywood Blvd. in suite A.

The properties are located just west of Young Circle on the south side of Hollywood Boulevard within walking distance of a variety of local shops and restaurants.

For more information about Berger Commercial Realty’s tenant representation services, call 954-358-0900.

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

954-776-1999

Pierson Grant Public Relations

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

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

www.bergercommercial.com.

Berger Commercial Realty Arranges 53,000 Square-Feet for Pharmaceutical Logistics Company in Boca Raton

 

Michael Feuerman

FORT LAUDERDALE, FL – Michael Feuerman, tenant representation specialist and Palm Beach County managing director for Berger Commercial Realty/CORFAC International, recently closed a lease for 53,139 square-feet of industrial space for a pharmaceutical logistics company in Boca Raton.

Feuerman represented WDSrx – Woodfield Distribution, LLC in leasing the space at 6500 Park of Commerce Blvd.

WDSrx provides pharmaceutical logistics services and operates from facilities in Boca Raton, Pompano Beach and Sugar Land, Texas. With the transaction, WDSrx established its second location in Boca Raton.

“WDSrx is occupying the warehouse portion of the building, which is located within the Park at Broken Sound between Clint Moore Road and Yamato Road in Boca,” Feuerman said.

The 83,000-square-foot, class-A building offers 24 feet of clear ceiling height, tilt-wall construction, grade-level and dock-high loading areas, and immediate access to I-95 via Yamato Road. It is owned by Exeter 6500-6500 Park of Commerce, LLC.

For more information about Berger Commercial Realty’s tenant representation services, call 954-358-0900.

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

954-776-1999

Pierson Grant Public Relations

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

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

www.bergercommercial.com.

Berger Commercial Realty Secures 26,000 Square-Feet in Lease Transactions for Tenants Across Florida

Roxanna Collins

 

Robert Dabrowski

FORT LAUDERDALE, FL – Berger Commercial Realty/CORFAC International brokers recently secured 26,437 square-feet in lease transactions on behalf of tenants across Florida.

At Ivy Quorum Property, LLC’s Quorum Business Park, located at 736 S. Military Trail in Deerfield Beach, Broker Associate Roxanna Collins represented Florida Iron Doors in the lease expansion of 12,991 square-feet of space. Collins previously represented Florida Iron Doors when the company relocated its facility in Pompano Beach and expanded by more than 6,000 square-feet.

Sales Associate Robert Dabrowski represented Capoeira Karkara Cultural Arts Center, Inc. in leasing 4,128 square-feet of industrial space from Hot Dog Real Estate Holdings at 108 Commerce Road in Boynton Beach. Capoeira Karkara provides lessons in a Brazilian martial art form that combines self-defense and fighting techniques with dance, acrobatics, music, culture and more.

Sales Associate Lawrence Oxenberg represented Simon’s West Palm Beach in leasing 3,318 square-feet of retail space from Hudson Bay Trading Company at Cross County Plaza, located at 1948 N. Military Trail in West Palm Beach. Additionally, Oxenberg represented Simon’s Delray Beach in leasing 3,300 square-feet of retail space from Congress Square, Ltd. at Congress Square, located at 2120 W. Atlantic Avenue in Delray Beach.

Lawrence Oxenberg

Oxenberg also represented Noire the Nail Bar in leasing 1,600 square-feet of retail space from SUSO 4 Seminole LP at Seminole Oaks Shopping Center, located at 10202 102nd Ave. North in Seminole. The space will function as a luxury nail salon and spa.

Senior Sales Associate Jonathan Thiel represented DHR Mechanical Services-Orlando, LLC in leasing 1,100 square-feet of flex space from Pine Ridge Park Holdings, LLC at Pine Ridge Park, located at 1081 N.W. 53rd Street in Fort Lauderdale. DHR Mechanical is a leading commercial HVAC contractor in Florida.

For more information about Berger Commercial Realty’s tenant representation services, call 954-358-0900.

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

954-776-1999

Pierson Grant Public Relations

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

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

www.bergercommercial.com.

Berger Commercial Realty Facilitates $345,000 Sale of 5005 Building in Tamarac, FL

  

Keith Graves

 FORT LAUDERDALE, FL  – Berger Commercial Realty/CORFAC International Senior Vice Presidents Keith Graves and St. George Guardabassi recently represented Accountable Storage, LLC in the $345,000 sale of the 5005 Building to Firstway Storage Commercial, Inc.

Located at 5005-5007 N.W. 37th Ave. in Tamarac, the 3,256-square-foot industrial building is situated on a 7,345-square-foot lot along the Commercial Boulevard corridor between I-95 and Florida’s Turnpike. 

The warehouse can be divided into 12 separate bays and features 14 feet of clear ceiling height and grade-level overhead doors.

The building was part of a $7.7 million portfolio of six properties in Tamarac spanning 5.39 acres and totaling 59,256 square-feet of space. 

The exclusive sales listing for the portfolio was awarded to Berger Commercial Realty in 2016 by AMC Furniture Liquidators, which plans to consolidate operations and relocate within the South Florida market.

The warehouse is the third property in the portfolio to have been sold by Graves and Guardabassi after the brokers facilitated the $227,000 sale of 5011-5013 N.W. 37th Ave. to Air-Ways Mechanical Services, LLC in January and the $965,000 sale of 3801 N.W. 50th Street to S.V.P. Tile & Marble, Inc. in December.

The remaining properties in the portfolio include:

St. George Guardabassi

·         3705 W. Commercial Blvd., a 30,656-square-foot freestanding office/showroom and warehouse building situated on an 89,000-square-foot lot that is listed at $3.675 million and features 18-foot ceilings, dock-high loading and exterior signage opportunities;

·         a 44,500-square-foot land parcel, listed at $1 million, on W. Commercial Blvd. adjacent to the other the properties;

·         and 3803 W. Commercial Blvd., a 10,064-square-foot retail building located on a 43,659-square-foot lot that is listed at $1.5 million and consists of a 3,500-square-foot bay and a 6,564-square-foot bay. The building is currently under contract.

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

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

954-776-1999

Pierson Grant Public Relations

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

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

www.bergercommercial.com.

www.corfac.com

HFF closes $19.25 million sale of and arranges $12.5 million financing for Sabadell Financial Center in Broward County, FL

Sabadell Financial Center, 150 South  Pine Island Road, Plantation, FL

Hermen Rodriguez

MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $19.25 million sale of and arranged $12.5 million in financing for Sabadell Financial Center, a five-story, 102,007-square-foot, Class A office building in the Broward County community of Plantation, Florida.

HFF marketed the property on behalf of the seller, Clarion Partners, LLC, and procured the buyer, The Green Companies.  

Clarion Partners acted on behalf of a separately managed account client advised by the firm. Additionally, HFF assisted the new ownership in securing the 10-year, fixed-rate loan through Aegon USA Realty Advisors, LLC. 

Sabadell Financial Center is located at 150 South Pine Island Road, just north of Interstate 595, which provides access to all parts of the tri-county area. 

The 7.3-acre site is equidistant between Miami and West Palm Beach and close to Fort Lauderdale-Hollywood International Airport, Port Everglades and downtown Fort Lauderdale. 

Extensively renovated from 2012 to 2015, Sabadell Financial Center is 96 percent leased to tenants, including Sabadell United Bank, Quest Workspaces and Ferencik Libanoff Brandt Bustamante & Goldstein, P.A. 

Elizabeth Green

The HFF investment sales team representing the seller was led by senior managing director Hermen Rodriguez, director Ike Ojala and associate director Tracey Goo.

HFF’s debt placement team was led by senior managing director Paul Stasaitis and associate Maxx Carney.

The Green Companies negotiating team was led by James Bernstein, Elizabeth Green and George Brown.

 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.clarionpartners.com.

Winter & Co. Arranges $45 million construction loan for ground-up condominium development in Greenwich Village, NY

NEW YORK, NY -- Winter & Company has arranged a $45 million construction loan for the ground-up development of an ultra-high-end, 10-unit, nine-story luxury condominium building in a prime location in Greenwich Village in downtown Manhattan.

The full-block-wide site provides light and air on three sides. The upper units will have views of the Hudson River and some will have underground parking. 

The well-capitalized developer specializes in creating bespoke, boutique condominium buildings in Downtown Manhattan with very high-level finishes, design and aesthetics. The 3-year construction loan is priced at 350 basis points above 30-day LIBOR with a floor of 3.9% and was structured with limited recourse.

Winter & Company is a Manhattan-based, commercial mortgage advisory firm that specializes in arranging development and construction financing (as well as joint venture equity for new developments), multifamily and mixed-use property financing and arranging cooperative underlying mortgages since 1989.

Its affiliate, W Financial Fund, LP is a direct private bridge lender providing short-term, special situation financing primarily for NYC multifamily and mixed-use properties since 2003.

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

Gregg Winter - President

Winter & Company

Creative Minds | Unparalleled Service ®

149 Madison Avenue, Seventh floor

New York, NY 10016

Phone: 212 532-9170

Email: gregg@winterandcompany.com

http://www.winterandcompany.com

RAF Pacifica Group Announces New Mixed-Use Development in Rapidly Growing Solana Beach, CA Submarket

Adam Robinson

SAN DIEGO, CA – RAF Pacifica Group, a San Diego-based commercial real estate investor and developer, has acquired a 40,000 square-foot land parcel formerly the site of Cedros Gardens, on which the firm plans to develop a 26,000 square-foot mixed-use project integrating high-end restaurants, ground-floor retail, office, and multifamily in the Solana Beach submarket of San Diego.

The land is fully entitled for development, and is located within the rapidly growing Cedros Design District.

Vec•tor will be situated in Carlsbad Oaks North, a 120-acre master planned corporate business park in Carlsbad where leading biopharmaceutical company IONIS Pharmaceuticals is headquartered, and other major biotech companies are located.

Development costs for this project total $30 million. Ware Malcomb has been selected as the architect for this project, and TFW Construction is the general contractor. Vec•tor will be completed in Q2 of 2018.

The Cedros Avenue project will break ground in 2017, with an estimated completion date in 2018. RAF Pacifica Group acquired the 40,000 square-foot entitled land parcel for a total consideration of $5.5 million from a private owner.

“This site is a rare find in the current market,” explains Adam Robinson, Founder & Principal of RAF Pacifica Group.  “The opportunity to acquire land that is fully entitled in the heart of such a vibrant district enables us to create a true lifestyle destination that will support Solana Beach’s ongoing revitalization and drive future economic growth, resulting in long-term value and higher quality of life for the community at large.”

Steve Leonard

The planned development will include 3,200 square feet of high-end restaurant space, 5,000 square feet of ground-floor retail, 8,000 square feet of high quality office, and eight multifamily units all within a walkable, centrally-located urban setting.

“This project exemplifies the type of high-quality, coastal mixed-use projects we are looking to build and hold long-term,” continues Robinson. 

“The demand for highly walkable communities, coupled with a trend toward urbanization, is driving the creation of fully integrated, amenity-rich environments that offer a live/work/play experience and foster a sense of community.”

Robinson notes that walkability is a key component of the economic redevelopment of densely populated cities and districts, and not only attracts residents and businesses, but also substantially increases property values.

Located in the tightly-knit coastal community of Solana Beach, RAF Pacifica Group’s project will be located on the same street as Cedros Avenue Design District, an open-air retail center featuring 85 boutique shops and restaurants. Home furnishings and design retailer West Elm plans to open its first Solana Beach store in this center, and a number of other redevelopments are underway within the Cedros Design District.

    With  Robinson and Steve Leonard at the helm, RAF Pacifica Group oversees a portfolio of 2.75 million square feet of real estate, with a niche focus in mixed-use, office and industrial product. The firm has an additional one million square feet of speculative development in the pipeline over the next 24 months, and continues to actively seek value-add investment and ground-up development opportunities in San Diego County.

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

Katie Kea / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

kkea@browermillercole.com

            

Daum Commercial Closes Land Sale for New Spec Industrial Development in Oxnard, CA

Mitch Conlee

OXNARD, CA – DAUM Commercial, a leading provider of commercial real estate services, has recently directed the sale of a 3.84 acre land parcel within the McInnes Ranch Business Park in Oxnard, California.

The buyer is designing a speculative warehouse distribution building to be developed at the site, according to Mitch Conlee, an Executive Vice President at DAUM’s Ventura County office.

Conlee represented the buyer, E&E Trust, as well as the seller, a Southern California developer, in this transaction.

“The ability to market this fantastic location allowed me to provide the seller with immediate upside based on tremendous demand in this supply-constrained market, which closed 2016 at just 2.7 percent vacancy,” Conlee explained. 

“At the same time, we also brought E&E Trust a valuable development opportunity. This parcel is five minutes from the 101 Freeway in a market with low vacancy and very little state-of-the-art competition. 

“The new owner plans to develop a 52,500 square-foot distribution building with 30-foot clear height in the warehouse, dock-high loading, as well as large aprons and truck courts, to accommodate the increasing traffic driven by e-commerce. 

“The planned development will be in a strong position to meet ongoing demand for new product.”

Conlee has completed several industrial transactions in McInnes Ranch Business Park and the surrounding areas, and drew upon his deep knowledge of the market to direct this acquisition.

The land parcel is located at 500 North Elevar Street, on the corner of Elevar Street and Camino Del Sol in Oxnard.

DAUM Commercial is a leading provider of commercial real estate services including brokerage, tenant representation, consulting, leasing, sales and property management. Founded in 1904, DAUM focuses on longstanding client relationships and draws upon its century-long track record to deliver steadfast insights and proven results to clients throughout the U.S.

DAUM has 10 offices throughout Southern California and Arizona. More information is available at www.daumcommercial.com.

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

           

Elisabeth Manville/Jenn Quader

Brower, Miller & Cole

(949) 955-7940

EManville@browermillercole.com

Raintree Partners Expands Rapidly; Adds Acquisitions and Operations Veterans to Bolster Growth in California

Annette Thurman

   LAGUNA NIGUEL, CA – Raintree Partners, a private commercial real estate investment company that acquires, develops and redevelops multifamily and mixed-use properties in California, has announced a recent growth milestone accompanied by an expansion of its acquisitions and operations team.

            “We have been extremely active in the market in recent months, increasing our existing portfolio by 25 percent,” explains Aaron Hancock, Managing Director of Raintree Partners.  “We now own nearly 5,000 units throughout California, and we continue to actively acquire assets that meet our investment criteria.”

            Hancock notes that Raintree’s acquisitions team has recently widened its scope to include smaller properties ranging from 25 units and larger.

            “We focused on larger assets for many years, however the market has shifted and we’re nimble enough to shift with it,” says Hancock. 

“We continue to draw upon our expertise in this multifamily niche in order to identify acquisition and development opportunities where we can create and maintain long-term value.”

            In addition to expanding its portfolio, Raintree is launching an intensive renovation program for its existing assets, with plans to implement more than $23 million in capital improvements portfolio-wide in 2017.

Ian Couwenberg

        






    “As property operators with an owner’s perspective, we recognize the opportunity to improve our assets strategically in order to grow rents, drive ongoing occupancy, and create the best resident experience possible,” explains Jason Check, Managing Director for Raintree Partners. 

            To maintain its active acquisition pace while conducting this capital improvement campaign, Raintree has added two industry veterans to its team, Ian Couwenberg as Director of Acquisitions, and Annette Thurman as Senior Director of Asset Management.

“Ian and Annette are seasoned professionals with the critical skills to continue our forward momentum while maintaining our high standards of excellence,” explains Check.

Ian Couwenberg brings a wealth of industry experience to Raintree.  Most recently serving as Vice President of Acquisitions and Dispositions for Sack Properties, Couwenberg began his career as a multifamily broker for CBRE, and has also been the Director of Investments at Equity Residential and Assistant Vice President of Acquisitions at Archstone Smith.

Annette Thurman boasts nearly two decades of experience in commercial real estate. Most recently, she served as Senior Vice President, Northwest at Alliance Residential Company, where she oversaw 82 assets consisting of nearly 20,000 units.  She also served in senior positions at Riverstone Residential and Fairfield Residential, LLC.  In her new role, Thurman will oversee Raintree’s capital improvement program and spearhead all asset management initiatives.

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

            

Elisabeth Manville/Jenn Quader

Brower, Miller & Cole

(949) 955-7940

EManville@browermillercole.com

www.raintreepartners.com.