Rivergate KW Residential Continues to Expand in Charlotte, NC

Wesley Village Apartments, Uptown Charlotte NC

CHARLOTTE, NC — RIVERGATE KW RESIDENTIAL, a leading multifamily property management company, has taken over management of new apartment community Wesley Village near Uptown Charlotte, N.C. on behalf of Bluerock Real Estate, LLC.

Wesley Village features a 10,000-square-foot clubhouse, expansive fitness center with yoga studio, community garden, resort-style pool with grilling cabana, and a dog-friendly “bark park.” The apartments are located in the burgeoning FreeMoreWest neighborhood just minutes outside of Uptown Charlotte and Historic South End.

Marcie Williams

Wesley Village offers one, two and three-bedroom apartments featuring European-style kitchens with stainless steel appliances and granite countertops. Additional appointments include luxury plank flooring, large kitchen islands, walk-in closets and private patios. 

“We’re excited to begin working with Bluerock,” said Marcie Williams, president of RIVERGATE KW RESIDENTIAL. “We have extensive experience in the multifamily arena in Charlotte, and an in-depth knowledge of Wesley Village specifically.”

“This is our first venture with RIVERGATE KW RESIDENTIAL, we are looking forward to their expertise and the growth of Wesley Village,” said Sarah Girand, Senior Vice President of Asset Management for Bluerock.

Bluerock is making significant capital improvements to Wesley Village, including upgrades to all amenity spaces in the clubhouses and outdoor spaces, such as the swimming pool and dog park. The company plans to enhance the community’s landscaping and add new exterior signage as part of a rebranding effort. Bluerock is also exploring potential apartment interior renovations and upgrades. 

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

Jasmin Curtiss

PR Coordinator, BoardroomPR

jcurtiss@boardroompr.com

O 954-370-8999

http://www.wesleyvillageapts.com/.

www.rkwresidential.com.

Plaza Advisors Brokers Sale of Winn Dixie Plaza in Tampa, FL

Jim Michalak

TAMPA, FL --Plaza Advisors has brokered the sale of Winn Dixie Plaza located on Dale Mabry Highway in Tampa, Florida. The total GLA contains 56,097 square feet and included several national credit inline tenants such as: Moe’s, Scottrade, GameStop and Jimmy Johns. The occupancy was 100% leased at the time of sale.

Jim Michalak and Mike Cvetetic of Plaza Advisors were the sole brokers on the assignment.

Plaza Advisors is a real estate brokerage firm that specializes in the disposition of retail properties throughout the Southeastern United States. Plaza Advisors’ clients include private equity investors, developers, and major institutions including fund advisors, servicing agents, life insurance companies, REITs, and money center banks. 

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

jim.michalak@plazadvisors.com

 www.plazadvisors.com

Jim Michalak

Managing Partner

Plaza Advisors

3412 Bay To Bay Boulevard

Tampa, FL 33629

813.837.1300 Ext. 1

Fax 831.2627

RECI Reports Borrowers Keep Winning as Treasuries Move Downward

  

Jeanne Peck

Chicago,IL, May 1, 2017 - The Real Estate Capital Institute reports overseas "shock" events in North Korea,

Turkey and Syria spread market jitters, as investors flock to the safety of

US government treasuries.  Even with the Fed's policy to control inflation

with interest rate hikes, longer-term treasuries stubbornly move downward to

levels not seen since last fall. 

Borrower keep winning under such circumstances, capturing permanent

fixed-rate debt within the higher-three-percent range to the

lower-four-percent range for most types of conventional loans.  However,

shorter term rates also start with a three-percent handle, since floating

rate indices move in tandem with Fed benchmark rates.  More specifically,

even as treasury notes dropped about a quarter point since the beginning of

the year, 30-day Libor rates rose by about the same amount. A flattening

yield curve is the result - long rates are the "sweet spot" in the realty

capital stack.

The markets are flooded with capital and no shortage of real estate debt

exists.  Yet lenders are more cautious given the current point in the

economic cycle, and more equity is typically required to attract decent

financing terms. The longer-term lending market based upon the lowest rates

is dominated by life companies. Agencies comfortably capture multifamily

loans, often providing attractive pricing/leverage combinations and programs

to foster value add and affordable housing.  Conduits focus on larger

single-asset securitizations and higher-yielding loans that are not good

fits for LifeCos/agencies.  Debt funds provide higher leverage and more

structured fundings, especially bridge loans for asset repositioning

situations.  Banks fund new construction loans, but at more conservative

levels than in the past few years.

As for product type, investors continue clamor for multifamily assets this

year, with private funds overwhelmingly dominating the market, representing

nearly two-thirds of the market share by some estimates.  Foreign investors

are in on the party as well, especially in gateway markets.  All in all,

while interest rates have climbed since the election, the impact on pricing

has been minimal for institutional-quality properties.

The Real Estate Capital Institute's director, Jeanne Peck, advises, "Global

issues help flatten the yield curve.  International demand for safe-haven

long treasuries have kept yields stubbornly low... a real benefit for

permanent fixed-rate borrowers."

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

The   Real Estate Capital Institute(r)

3517 West Arthington Street

Chicago, Illinois USA 60624

Jeanne Peck, Executive Director

American Realty Advisors Acquires 850,000-SF Class A Distribution Building in Atlanta, GA Submarket

King Mill Distribution Center, McDonough, GA

David Hubbs

McDonough, GA (May 1, 2017) – American Realty Advisors (“ARA”), an institutional capital management firm with over $8 billion in assets under management, has acquired King Mill Distribution Center, a 846,496 square-foot Class A cross-docked distribution facility in the Atlanta submarket of McDonough, Georgia.

            The building is 100-percent leased to CastleGate Logistics with a guaranty from its parent company, Wayfair.com, one of the world’s leading online destinations for home goods. Wayfair.com’s revenue surpassed $3.38 billion in 2016.

            “ARA invests in high-quality core assets with durable and accretive income returns located in dynamic submarkets across the country,” says David Hubbs, Senior Portfolio Manager at ARA.  

“This acquisition is a prime example of how we execute that strategy. King Mill Distribution Center is situated in a submarket widely known for its institutional quality assets and top-tier tenants and is fully leased to a global company with rapidly growing market share.”

            Hubbs also points to the strong local market as a key factor in ARA’s acquisition decision.

            “King Mill Distribution Center is located within 2 miles from I-75, which is the primary route from Atlanta to Florida and a direct connection to the Port of Savannah, the nations’ fourth-largest and fastest-growing U.S. container port,” says David Willett, Senior Director, Investment Group at ARA.  “The Atlanta metro is a major logistics hub, an economic engine of the Southeast, and home to one the nation’s leading business centers.”

 

David Willett

            The region continues to attract a diverse range of industries including corporate and regional headquarters for many Fortune 1000 firms and 15 Fortune 500 companies are headquartered within the Atlanta metro, ranking just behind Houston and New York City.

            Willett adds, “We were attracted to King Mill Distribution Center based on the region’s rapid growth, a healthy diversification of local industries, and the asset’s accretive in-place cash flow. We believe that the property is well-positioned to deliver long-term value to our tenant and to our investors.”

Built in 2016, the bulk distribution facility features state-of-the-art building specifications including cross-dock configuration, 185 foot deep full concrete truck courts, ESFR sprinklers, ductilcrete flooring systems, 36 foot minimum clear height, 171 dock high loading doors, four drive-in doors, abundant employee parking, and 237 trailer storage positions.

“The high quality construction and top-of-the-line material selections should result in the property maintaining its competitive advantage in the marketplace. Along with lower maintenance costs, this should drive attractive long-term returns for our investors,” continues Willett.

Frank Fallon

Hubbs adds, “Our investment in King Mill Distribution Center is consistent with ARA’s risk-adjusted core investing strategy to add in-place income growth to the portfolio with future appreciation upside potential in top-tier markets that are positioned to withstand any potential future economic shifts.”

King Mill Distribution Center is located at 130 Distribution Drive in McDonough, Georgia. Frank Fallon, Chris Riley and John Farell at CBRE represented the seller, King Mill Distribution Park, LLC, a Trammell Crow Atlanta development. 

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

Aurora Sunny Isles Beach Grows Sales Team with Addition of Joyce Larkin

  

Joyce Larkin

SUNNY ISLES BEACH, FL – Aurora Sunny Isles Beach has announced the hiring of Joyce Larkin as a sales executive with its growing team.

The addition comes at a time when Aurora developer Verzasca Group is receiving tremendous demand at the Sunny Isles Beach project, which is being developed as part of an intimate collection of boutique residences, along with Le Jardin Residences and Pearl House in Bay Harbor Islands.

John Warsing

With over 15 years of experience in real estate sales and marketing, selling luxury South Florida projects comes naturally to Larkin. Led by Director of Sales John Warsing, the addition of Larkin amplifies the wealth of real estate experience at Aurora’s sales team.

After moving to South Florida in 1996, Larkin quickly learned the ins and outs of the real estate industry. She quickly acquired her real estate license and then her mortgage broker’s license, and took the area by storm, becoming a top producer at her firm.

“Joyce is a tremendous addition to our sales team,” said Verzasca Managing Director Tim Lobanov. “We continue to see strong interest for our project from local and international buyers. The marketplace is realizing that Aurora offers a rare convergence of luxury, value and location.”

Aurora is a new luxury condominium project with 61 residences at 17550 Collins Avenue in Sunny Isles, one of the world’s most sought-after destinations. The boutique building’s two and three-bedroom residences range from 1,385 to more than 2,150 square feet. Prices start in the $900,000s, making it the most attainable luxury project on Sunny Isles.

Le Jardin and Pearl House are new boutique residences situated in Bay Harbor Islands.

Tim Lobanov

A 30-residence community at 1150 and 1160 102nd Street, Le Jardin has two and three-bedroom units ranging from 1,385 to 2,235 square feet. Pearl House is an exclusive 15-resident community at 11701 101st Street and offers two-, three- and four-bedroom apartments. 

The projects feature amenities such as a private garden, rooftop swimming pool and panoramic views of the Atlantic Ocean, Downtown Miami, Bal Harbour, Miami Beach and Key Biscayne.

Both Le Jardin and Pearl House are located in Miami-Dade County’s top school district, with Ruth K. Broad K-8 Center within walking distance. 

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

BoardroomPR

Eric Kalis: ekalis@boardroompr.com, 954-370-8999

Jasmin Curtiss: jcurtiss@boardroompr.com, 954-370-8999

www.aurorasunnyislesbeach.com.

www.verzasca-group.com.

Leading Apartment Ancillary Service Provider Rebrands Telecom Company and Appoints Telecom Veteran as Regional Vice President

Gregg Roffers

 IRVINE, CA – Multifamily Ancillary Group (MAG), the industry leader in revenue-generating ancillary services for multifamily owner and managers, has announced a new telecommunications and cable division, Next Wave Solutions. 

In conjunction with this launch, MAG has appointed telecom veteran Gregg Roffers as Regional Vice President of MAG, according to Vice President, Annie McClinton.

 “Our position as the premier telecom and cable consultants for multifamily is built on our relationships with telecoms firms and our ability to negotiate competitive pricing by leveraging our current portfolio of 250,000 multifamily units,” explains McClinton.

Annie McClinton

“By establishing Next Wave Solutions as its own brand, MAG is strengthening its telecom and cable identity and industry presence even further.  

"The addition of Gregg Roffers as a leader at MAG, who himself has more than 30 years on the telecom and cable company side of the table, will also positively impact our ability to grow,” McClinton adds.

In his new role, Roffers will oversee MAG’s Business Development and Marketing Department teams, as well as manage existing relationships with major apartment owners and managers. His experience in the telecom industry includes management positions with Time Warner Cable and other major operators.

“The rapid changes in the industry will increase the demand for owners and managers to supply new services at great prices,” notes McClinton. “Gregg’s capabilities and skills within the telecommunications field will help us continue to provide the best possible services and rates to our current and future clients.” 

Roffers has now joined MAG.  Next Wave Solutions will have a new brand roll-out later this year. 

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

Elisabeth Manville / Katie Kea

Brower, Miller & Cole

(949) 955-7940

emanville@browermillercole.com

 www.magrev.com.

.

29th Street Capital Acquires Woodlake Villas Apartments; Community is Firm’s 2nd Las Vegas-Area Property

Woodlake Villas Apartments, Las Vegas, NV

Dusty Eddy

 Las Vegas, NV – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Woodlake Villas Apartments, a 218-unit multifamily community in Las Vegas, Nevada. The transaction closed April 26. The sale price was not disclosed.

29SC plans to implement a $1.9 million capital improvement program to renovate unit interiors, enhance the property’s exterior and curb appeal and improve the amenity package. 29SC will also implement energy-efficient upgrades through the Freddie Mac Green financing program.

The Las Vegas market has experienced significant economic improvements in recent years. In 2016 alone, the Las Vegas market ranked third in rent growth (Axiometrics), added 24,800 jobs and had a positive net migration of 40,000. Additionally, the Las Vegas MSA reported millennial population growth of 3.0% in 2016, which ranked the highest in the U.S.

“We are very pleased with the addition of Woodlake Villas to the 29SC portfolio and our expansion into the ever-improving Las Vegas market,” said Dusty Eddy, 29SC’s Vice President of Acquisitions for Phoenix, Las Vegas and San Diego. “We’re excited to start our renovation program that will ultimately lead to a more desirable community.”

  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.

.

HFF closes sale of and arranges financing for Birmingham, AL seniors housing community

Danberry at Inverness Seniors Housing, Hoover, AL

Sarah Anderson

DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged acquisition financing for Danberry at Inverness, a 232-unit seniors housing community in the Birmingham, Alabama, suburb of Hoover.

HFF marketed the property on behalf of a joint venture between a private equity seller and LCS, and procured the buyer, a joint venture partnership between LCS and an affiliate of Artemis Real Estate Partners.

 Life Care Services, an LCS Company, will also continue to manage and operate the property.  

In addition to brokering the sale, HFF worked on the new owner’s behalf to secure a seven-year, floating-rate acquisition loan through Freddie Mac’s CME Program. 

The securitized loans will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.

Danberry at Inverness comprises 160 independent living units, 48 assisted living units and 24 memory care units.  

The Class A+ property has high-end finishes and amenities, including an expansive grand lobby, 24-hour concierge service, elegant dining room, state-of-the-art fitness center, solarium, library with fireplace, lounge/clubroom, business center, heated swimming pool and hot tub, barber shop and full-service salon. 

Ryan Maconachy

The property’s location at 235 Inverness Center Drive places it near Birmingham’s “280-Corridor”, which is among the fastest-growing business corridors in the Southeast.  The affluent Hoover area has experienced a 48.1 percent growth in population in the past decade with an average household income of approximately $111,374.

The HFF investment sales team was led by senior managing directors Ryan Maconachy, Chad Lavender and Bill Miller.

HFF’s debt placement team was led by associate director Sarah Anderson.

  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.lifecareservicesLCS.com.

.

HFF secures $142 million financing for mixed-use lifestyle development in suburban Cleveland, OH

Trey Morsbach

DALLAS, TX – April 27, 2017 - Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $142 million in financing for the development of Pinecrest, an approximately 650,000-square-foot mixed-use lifestyle project in the Cleveland suburb of Orange Village, Ohio.

  

HFF worked on behalf of development partners, Cleveland-based Fairmount Properties and the DiGeronimo Companies, to place the construction loan with a syndicate of banks led by Huntington Bank, which also included KeyBank, First National Bank, First Commonwealth Bank and Flagstar Bank.  HFF also assisted the developer in securing joint venture equity for the project in June 2016.

Due for completion in spring 2018, Pinecrest will encompass more than 400,000 square feet of high-caliber retail, including many stores, restaurants and entertainment anchors that are new to the region and exclusive to Pinecrest.

 The retail component will feature tenants such as Whole Foods, REI, Silverspot Theaters, Pinstripes, West Elm, Williams Sonoma, Pottery Barn, Vineyard Vines and Kona Grill. 

The Offices at Pinecrest will consist of two adjoining 75,000-square-foot Class A office buildings, which will be positioned above the retail and restaurant component.  Pinecrest will also feature a 145-room AC Hotel by Marriott®, 87 high-end luxury apartments and a one-acre town center.

Jim Curtin

 The project is ideally situated on 58 acres to the east of Cleveland’s CBD at the center of Orange Village’s retail trade area just off Interstate 271 at Harvard Road.

The HFF debt placement team representing the borrower was led by senior managing director Trey Morsbach, managing director Danny Kaufman and director Jim Curtin.

  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 closes sale of 309-unit apartment community in suburban St. Louis, MO

Residences at The Streets of St. Charles, 1650 Beale Street, St. Charles, MO

Sean Fogarty

CHICAGO, IL –- Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Residences at The Streets of St. Charles in the northwest St. Louis suburb of St. Charles, Missouri.

HFF marketed the property exclusively on behalf of the seller, Cullinan Properties, Ltd., and procured the buyer, Trilogy Real Estate Group.

Residences at The Streets of St. Charles is located at 1650 Beale Street within The Streets of St. Charles, a 1.5-million-square-foot development encompassing 26 acres immediately south of Interstate 70, which provides access to the greater St. Louis metropolitan area.

 The Streets of St. Charles is a distinctive mixed-use community with retail, dining, entertainment, hospitality, residential and office components. 

With a town center design that creates a neighborhood atmosphere, The Streets of St. Charles is unique in the market and includes all the latest amenities for sophisticated living, casual and elegant dining, retail, modern offices and entertainment.

Completed in 2014, the five-story, Class A property overlooks the Missouri River and features studio, one- and two-bedroom units ranging from 559 to 1,287 square feet with high-end finishes, including wood-style flooring, stainless steel appliances, custom cabinetry, designer backsplashes, walk-in closets and in-unit washers and dryers. 

Marty O'Connell

In addition to the dining, retail and entertainment amenities situated within the development, residents also have access to an infinity pool and hot tub, grilling area, fire pit, 24-hour fitness center, tanning bed, clubhouse, game room with billiards, business center, pet park, dog wash parlor and attached garage parking. 

The HFF investment sales team representing the seller was led by managing directors Sean Fogarty and Marty O’Connell and associate director Wickliffe Kirby.

 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.trilogyreg.com

www.cullinanproperties.com

.

HFF arranges joint venture for luxury condominium development in Lower Manhattan

 

Eric Anton

NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a joint venture for the development of 69 West Broadway, a ground-up luxury condominium project in Lower Manhattan’s trendy Tribeca neighborhood.

HFF worked on behalf of the developer, Cape Advisors, Inc. and Forum Absolute Equity Partners, a private equity fund based in New York, to arrange the investment with a European fund, which contributed in excess of $21 million toward the total project cost of approximately $120 million.

69 West Broadway will occupy the block between Warren and Murray Streets at West Broadway in Tribeca.  This location, convenient to the 1, 2, 3, A and C Chambers Street metro stations as well as the newly completed, Santiago Calatrava-designed World Trade Center Transportation Hub, is being designed by BKSK Architects. The eight-story building will have 24 luxury units situated above ground-floor retail. 

HFF’s equity placement team was led by senior managing director Eric Anton.

“It is always a pleasure to work with the creative team at Cape Advisors, and I am happy that HFF was able to aid in the funding of their latest endeavor,” Anton said.  “Given the current challenges in securing capital for condominium development, this deal is a testament to the quality of the location, development team and long-term strength of New York City’s residential market.”

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 arranges $11.1 million financing for four-building industrial portfolio in Atlanta, GA

Ken Martin

INDIANAPOLIS, IN –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $11.1 million in acquisition financing for a fully-leased, four-building industrial portfolio totaling 409,851 square feet in the metropolitan Atlanta area.

HFF worked on behalf of the borrower, Citimark, Inc. (Citimark), to place the seven-year, fixed-rate loan with 40/86 Mortgage Capital, Inc.  

This acquisition signals Citimark entry into the Atlanta market, forwarding Citimark’s strategy of purchasing infill Class A and B small bay industrial properties in primary markets in the United States.

The portfolio comprises Airport Plaza 2 and 3 at 470 and 472 Plaza Drive in College Park near Hartsfield International Airport; Atlanta Northeast 11 at 4164 Northeast Expressway in Doraville, which is located in the Interstate 85 Northeast submarket at the intersection of Interstate 85 and Interstate 285; and Royal Industrial Center 3 at 5025 North Royal Atlanta Drive in Tucker, also in the Interstate 85 Northeast submarket. 

The buildings were all developed between 1970 and 1985, have clear heights ranging from 18’ to 24’ and were 100 percent leased at acquisition. 

The HFF debt placement team representing the borrower was led by director Ken Martin.

Tim Hoffman

“Atlanta serves as the industrial hub of the southeast, and as Citimark continues to grow its industrial presence nationally, it’s important that we establish and grow a presence there,” said Citimark CIO Tim Hoffman.  “The fundamentals in Atlanta remain strong, and we feel there will continue be opportunities to grow our footprint in the market.”

HFF’s Industrial Group is extremely active in the southeastern United States, having closed more than 100 investment sales and debt placement transactions involving more than 84 million square feet in the last five years.

 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

http://www.citimarkinc.com.

HFF arranges sale of and $42.4 million financing for the Rotunda Building in Charlotte, NC

Rotunda Building, SouthPark Submarket, Charlotte, NC

 

Ryan Clutter

CHARLOTTE, NC  – Holliday Fenoglio Fowler, L.P. (“HFF”) announced it has closed the sale of and arranged $42.4 million in acquisition and improvement financing for the Rotunda Building, a 230,790-square-foot, premier, Class A, multi-tenant office building in the prestigious SouthPark submarket of Charlotte, North Carolina.

HFF marketed the property on behalf of the seller, a global asset manager.  Equus Capital Partners, Ltd. purchased the building.  Additionally, HFF worked on behalf of the new owner to place the floating-rate acquisition loan with Bank of America Merrill Lynch.

The Rotunda Building represents one of Charlotte’s trophy, iconic office buildings.  Completed in 1988, the four-story building features a two-floor parking deck and surface parking with a total of 761 dedicated parking spaces; lobby consisting of a two-story porte cochère with Italian marble; conference room; Village Tavern, a full-service restaurant; and a water fountain that spans the entire rear side of the building.

 The 91-percent-occupied property is home to a variety of tenants, including Jones Lang LaSalle, Jeffries, First Bank, Capital South, Development Management and Michelin. 

Scot Humphrey

Situated on 5.34 acres at 4201 Congress Street, the Rotunda Building is located at the intersection of Congress Street and Carnegie Boulevard directly across from the 1.6 million-square-foot SouthPark Mall, a prestigious regional retail destination.  

The building is in the heart of the SouthPark submarket, a mixed-use, urban environment with a live-work-play atmosphere five miles south of Charlotte’s Uptown area.

The HFF investment sales team representing the seller was led by senior managing director Ryan Clutter, director Scot Humphrey and associate director Chris Lingerfelt.

HFF’s debt placement team representing the buyer was led by director Brent Bowman and senior managing director Travis Anderson.

 ”The Rotunda Building is a trophy asset located in Charlotte’s prestigious SouthPark submarket,” Clutter said.  “Iconic assets of this nature continue to be sought after from investors seeking an attractive mix of stability and modest upside. 

“We believe more core and core-plus office assets like Rotunda will come to market in Charlotte and the Carolinas over the next 36 months as investor attention to these opportunities continues to be strong.  The draw of institutional capital to the Carolinas region is at an all-time high and we see this continuing for the foreseeable future.” 

“The high-quality nature of Rotunda, a diversified tenant roster and its location within the booming SouthPark submarket attracted substantial lender interest from both life insurance companies and banks,” Bowman added.

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

www.equuspartners.com..

HFF closes $81.45 million recapitalization of eight-building Long Island, NY medical office portfolio

Andrew Scandalios

NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $81.45 million recapitalization of Stony Brook Technology Center, an eight-building medical office portfolio totaling 261,824 square feet in the Long Island community of East Setauket, New York.

HFF represented TRITEC Real Estate, and procured the partner, a fund advised by UBS Real Estate & Private Markets. 

Completed between 1987 and 2007, the portfolio is located within a master-planned business park proximate to several large universities and hospital groups, including Stoney Brook University, in Eastern Long Island.  Stony Brook University is one of the key tenants in the 97-percent-leased portfolio, occupying more than 65 percent of the buildings.

The HFF team representing TRITEC was led by senior managing directors Andrew Scandalios and Jose Cruz and assisted by senior managing director Michael Gigliotti.

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

www.tritecre.com

 or follow TRITEC on Twitter at @TRITEC_RE.

www.ubs.com/realestate.

HFF closes sale of and secures financing for Holiday Inn Orlando SW – Celebration Area near Walt Disney World Resort

  

Holiday Inn Orlando SW – Celebration Area, Florida

 

Michael Weinberg

ORLANDO, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and secured acquisition and renovation financing for Holiday Inn Orlando SW – Celebration Area, a 444-room, limited-service hotel near the grounds of Walt Disney World Resort in Orlando, Florida.

HFF marketed the property on behalf of the seller, Eastgate Hospitality Investors, LLC, for which HFF secured financing for the property in 2012.  Palm Holdings purchased the asset free and clear of debt and unencumbered of management.

Additionally, working on behalf of the new owner, HFF placed the five-year, floating-rate loan with BMO Harris Bank.  

Proceeds of the financing will be used to acquire the hotel and immediately implement a property improvement plan, which includes a complete overhaul of the lobby, common areas and guestrooms. 

Holiday Inn Orlando SW – Celebration Area is an official Walt Disney “Good Neighbor Hotel” at 5711 W. Irlo Bronson Memorial Highway in Kissimmee, 2.5 miles from Walt Disney World Resort (Disney), which welcomes more than 50 million visitors a year. 

Preston Reid

Additionally, the hotel is less than two miles east of Interstate 4, which provides access to Universal Studios Orlando, SeaWorld Orlando, LEGOLAND and the Orlando Premium Outlets.  

The hotel comprises two eight-story guestroom towers and a single-story section between them that was all completed in 1984 and 1985 and then redeveloped into a Holiday Inn in 2007. 

The Holiday Inn Orlando SW – Celebration Area features an outdoor pool, kid’s pool and whirlpool; fitness center; business center; game room; playground; Trattoria Café with an onsite Pizza Hut Express; lobby bar; 4,000 square feet of function space and scheduled transportation to the theme parks. 

The HFF team was led by senior managing director Michael Weinberg and associate directors Preston Reid and Matthew Sand.

“BMO Harris offered a flexible financing solution that fit well with our client’s business plan for the hotel,” Sand said.  “We were excited to help Palm Holdings continue to grow its presence in the Orlando market.”

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

http://www.palm-holdings.com