Wednesday, May 24, 2017

The Keyes Company Names Joan Richardson Wellington, FL Office Manager

  
Joan Richardson
Wellington, FL, May 24, 2017 – The Keyes Company has announced the hiring of Joan Richardson as District Sales Manager for its Wellington office, which has enjoyed significant growth over the past year.

Previously, Richardson served as Assistant District Sales Manager of the company’s Boca Raton office for nearly 12 years. 

While in that role, she was named a Multi-Million Dollar Producer as a full partner on the Fannie Mae Listing broker team. 

Richardson was also the recipient of the President’s Elite Award in 2006, 2010, 2011 and 2012, and received the Circle of Excellence Award in 2013, 2014, 2015 and 2016.

YTD 2017, the Keyes Wellington office has generated a 32 percent year-over-year sales volume increase. Closed units are up 18 percent, with a 19 percent closed volume increase.

“We are excited to have Joan on board as a manager for our Wellington office,” said Keyes President and CEO Mike Pappas. “I have no doubt she will continue to help the team both personally and professionally, and continue to drive business.”

“I am honored to have the opportunity to manage the company’s Wellington office,” said Richardson. “Customer service, superior marketing and team work have always been important to me. I look forward to incorporating these values into my work and leadership skills in my new role.”


Before her time with real estate, Richardson worked as an Account Coordinator for Professional Direct Marketing and an Event Coordinator for Peak Seven Graphic Design Studio.

Mike Pappas
Richardson earned her Bachelor of Arts in Communication from the University of Central Florida.

Independently-owned and operated since its founding in 1926, Keyes is extremely active in luxury residential real estate. In addition to Valore Group, Keyes has Platinum Properties, which is also a division of Keyes Luxury. The combined companies are a premier luxury leader.

Keyes annually sells $650 million in luxury homes priced at $1 million or more. The company expects to grow its annual sales volume in that category to more than $1 billion.

Keyes is a Founding Member and Shareholder of Leading Real Estate Companies of the World®, a global network of more than 550 premier real estate firms encompassing 4,000 offices and more than 128,000 Sales Associates in 55 countries.
  
In July 2016, Keyes and Illustrated Properties announced the completion of a merger between the two companies, which continue to operate under their existing brands.

Following the merger, Keyes and Illustrated are, together, the largest independently-owned real estate firm in Florida and a Top 25-ranked firm in the entire United States. In Palm Beach County alone, the companies have in excess of 1,100 Sales Associates and produce double the volume of their closest competitor.

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

Jasmin Curtiss
PR Coordinator, BoardroomPR

O 954-370-8999

Tuesday, May 23, 2017

Terwilliger Pappas Breaks Ground on Solis Decatur Apartments in North Decatur Square, Atlanta, GA


Alan Dean
ATLANTA, GA – Terwilliger Pappas has started construction on Solis Decatur, a 290-unit apartment community. 

Solis Decatur comprises the residential component of the North Decatur Square mixed-use development that includes 89,000 square feet of restaurant and retail – including a Whole Foods 365.

Terwilliger Pappas partnered with SJ Collins Enterprises on the 11-acre parcel. Terwilliger Pappas’ financial partners on this deal are JP Morgan and Atlantic Creek.

The residential portion will include a workforce component to provide affordable housing opportunities to the local neighborhood. 

The project is located directly across from North DeKalb Medical Center, approximately one mile from Downtown Decatur where residents will have the opportunity to walk, explore, shop and enjoy over 200 independent shops, restaurants, music venues, galleries and salons.

“Solis Decatur is located in one of Atlanta’s most historic and thriving neighborhoods, with access to culture, food and retail,” said Alan Dean, Region President at Terwilliger Pappas. “Walkability is a critical component in all Terwilliger Pappas communities. The restaurant and retail offerings, including Whole Foods 365, within North Decatur Square make this a very compelling offering.”

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

Taylor Rowden/Hilary Harmon
Liz Lapidus PR
404-688-1466
taylor@lizlapiduspr.com

hilary@lizlapiduspr.com

HFF closes $28.1 million sale of and arranges $20.3 million financing for mixed-use office and retail center in Palm Beach Gardens, FL


City Center, Palm Beach Gardens, FL                    Photo by Mark S. Gall)

Hermen Rodriguez
MIAMI, FL  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $28.1 million sale of and arranged $20.3 million in acquisition financing for City Centre, a Class A, four-building, mixed-use office and retail center totaling 93,563 square feet in Palm Beach Gardens, Florida. 

The sale also included a 20-year ground leased outparcel with a PNC Bank branch and a 3.2-acre development site approved for 61,800 square feet of office space.

HFF marketed the property on behalf of the seller, Lionstone Investments.  AW Property Co. purchased the asset free and clear of financing.  Additionally, HFF worked on behalf of the new owner to place the acquisition financing. 

City Centre’s four buildings have classical Mediterranean revival-style architecture that includes Spanish tile mansards, a central fountain and walking paths with brick pavestones. 

The low-rise buildings are home to a variety of multinational, national and local tenants, including PNC Bank; Oppenheimer & Co. Inc.; Wilmington Trust; Sabadell United Bank; Twisted Root Brewing; Ristorante Limoncello and Premier Custom Pharmacy. 


Daniel Finkle
Situated on 13.58 acres at 2000 PGA Boulevard, City Centre is at the southwest corner of PGA Boulevard and US Highway 1 on the east side of Ellison Wilson Road. 

The property is the North Palm Beach submarket in northern Palm Beach County and is located less than 10 miles from downtown West Palm Beach.

The HFF investment sales team representing the seller was led by senior managing director Hermen Rodriguez, senior managing director and co-head of HFF’s retail practice Daniel Finkle, 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.

  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


  

HFF secures $40.7 million construction financing for Hyatt House hotel in Nashville, TN


Ed Coco
ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $40.7 million in construction financing for the development of a new 201-room, 15-story Hyatt House hotel in Nashville’s West End area. 

HFF worked on behalf of the developer, a joint venture between Atlanta-based Songy Highroads LLC and a Hyatt affiliate, to place the construction loan with Citizens Bank.

The new Hyatt House Nashville West End will be a midrise extended-stay hotel featuring full kitchen suites in select rooms, lobby lounge and H Bar, outdoor patio with fire pit and grills, complimentary Morning Spread breakfast, evening happy hour, 24-hour fitness center, outdoor pool with pool deck, meeting space and more.

 The hotel is expected to be completed in early 2019.  Situated on .62 acres at 21st Avenue North and Hayes Street, the hotel’s West End location places it in close proximity to Vanderbilt University, Vanderbilt University Medical Center and Children’s Hospital, Belmont University, St. Thomas Hospital and Tri-Star Centennial Medical Center.

The HFF debt placement team representing the developer was led by senior managing director Ed Coco and associate Matt Casey.

“This Hyatt House project is ideally located squarely in the heart of the West End’s largest demand drivers,” said Coco.  “Fundamentals for the extended-stay product continue to flourish in this incredibly strong submarket, and the collaboration between Songy Highroads and Hyatt will develop a best-in-class project to service this stable and growing demand.” 

    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


  

HFF completes sale of 520 Post Oak Boulevard in Houston, TX


520 Post Oak Boulevard Office Building, Galleria Submarket, Houston, TX


HOUSTON, TX –- Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has completed the sale of 520 Post Oak Boulevard, a 155,147-square-foot, boutique office building in Houston’s Galleria submarket.

HFF worked on behalf of the sellers, balandis real estate AG and Griffin Partners. The project was sold to Griffin Partners Office Fund III.  balandis AG was advised by EII Realty Corp.

520 Post Oak Boulevard is situated in the heart of Post Oak Park in Houston’s Galleria submarket, a location that boasts unparalleled freeway connectivity via Loop 610, Interstate 10 and Interstate 69; access to more than 35 Fortune 1000 HQ within a 15 minute drive; direct access to Houston’s premier residential neighborhoods and an extensive retail amenity base, including River Oaks District, Highland Village, Uptown Park, BLVD Place and The Galleria Mall. 

The eight-story building is 90.1 percent leased to a diverse roster of tenants in the real estate, financial, professional services, energy and transportation service industries. 

The HFF investment sales team representing the seller was led by senior managing director Danny Miller and associate John Indelli.

  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

Stepp Commercial Completes $4.1 Million Sale of Bay Shore Apartments in Long Beach, CA


Robert Stepp
Long Beach, CA -- Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $4.1 million sale of Bay Shore Apartments, a nine-unit apartment property adjacent to the Belmont Shore neighborhood of Long Beach, Calif.

Principal Robert Stepp and Vice President Michael Toveg of Stepp Commercial represented the seller, a private investor from Los Angeles. Vice President Todd Hawke of Stepp Commercial represented the buyer, a private investor from Los Angeles.

The property closed at a 3.8 percent cap rate and a price per unit of nearly $456,000, which is a record high for the area.

Built in 1946, the two-story property is located at 20 Bay Shore Avenue and consists entirely of two-bedroom units. The asset includes a front porch, private garages and a laundry facility. Some of the units have been upgraded with hardwood floors, granite countertops and custom cabinetry.

"Bay Shore Apartments is just steps from the beach in the prestigious Belmont Shore neighborhood," said Stepp. "It offers the buyer a 15 percent rental upside and sold for full asking price."

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

Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224



After Strong First Quarter, CBRE Forecasts Eighth Consecutive Year of Occupancy Growth for U.S. Hotels


R. Mark Woodworth
Atlanta, GA, May 23, 2017 – The U.S. lodging industry started 2017 on a strong note.  During the first quarter of 2017, hotel demand increased by 2.8 percent.  

The result was an occupancy of 61.1 percent, the highest first quarter occupancy rate reported by STR in the past 30 years.

 “Since bottoming out in the fourth quarter of 2009, U.S. lodging demand now has grown for 29 consecutive quarters, and led to the record occupancy levels we currently are observing,” said R. Mark Woodworth, senior managing director of CBRE Hotels’ Americas Research (CBRE).

 “We realize that favorable prior year comparisons contributed to the strong growth in first quarter demand, and that pace cannot be sustained through the rest of 2017. 

“However, given the positive economic outlook for the remainder of the year, we are projecting demand to outpace supply once again in 2017, thus resulting in an eighth successive year of occupancy growth for the U.S. lodging industry.”

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

Chris Daly
Daly Gray Public Relations
703 435 6293

National Retail Properties Inc. Declares Dividends for its 5.70% Series Preferred and 5.20% Series F Preferred Stocks


Kevin Habicht

Orlando, FL  - The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a cash dividend on its 5.70% Series E Cumulative Redeemable Preferred Stock of 35.625 cents per depositary share payable June 15, 2017, to shareholders of record on May 31, 2017.

The Board also declared a cash dividend on its 5.20% Series F Cumulative Redeemable Preferred Stock of 32.5 cents per depositary share payable June 15, 2017, to shareholders of record on May 31, 2017.

National Retail Properties invests primarily in high-quality retail properties subject
generally to long-term, net leases. As of March 31, 2017, the company owned 2,543
properties in 48 states with a gross leasable area of approximately 27.3 million square
feet with a weighted average remaining lease term of 11.4 years.

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

Kevin B. Habicht
Chief Financial Officer
(407) 265-7348

Monday, May 22, 2017

Partnership Unveils Redevelopment Plans for Weston Hills Country Club in Weston, FL



Lon Tabatchnick
WESTON, FL —Weston Hills Resort Group LLC, an affiliate of Hollywood-based Lojeta Group, has unveiled plans to redevelop Weston Hills Country Club, providing an upgraded experience for members and boosting property values for those who live in and around the area. 

The development partnership has a contract to purchase the Club and has committed to investing more than $10 million in improvements which include renovating the two championship golf courses, upgrading the clubhouse facility, building a resort-style swimming pool, poolside bar and restaurant, five new tennis and two pickle ball courts, a fitness center and a special play area for kids. 

“This is an opportunity to restore the prestige of Weston Hills Country Club and make it a crown jewel of the city once more,” said Lon Tabatchnick, managing partner of Weston Hills Resort Group whose resume includes developing the highly successful Margaritaville Resort on Hollywood Beach.

“There hasn’t been a significant renovation of Weston Hills since it was opened 30 years ago.  It’s still a great place for golf, tennis, recreation, dining and social events for the community, but needs a facelift to grow and prosper for the next 30 years.” said Tabatchnick who is a member of the club.

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

Todd Templin or Lauren Berger, BoardroomPR
954-370-8999 (o)  954-290-0810 (c)


HFF secures $100 million refinancing for retail power center in North Bergen, NJ


 
                         Tonnelle Commons, North Bergen, NJ              Photo by John Jenks                                                 

Mike Tepedino

NEW YORK, NY -– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $100 million refinancing for Tonnelle Commons, a 410,015-square-foot, Class A, fully leased retail power center in the New York metropolitan area suburb of North Bergen, New Jersey.

HFF worked on behalf of the borrower, Urban Edge Properties, to secure the 10-year, non-recourse fixed-rate loan.

Completed in 2009, Tonnelle Commons is fully leased to 16 tenants and is anchored by Walmart, BJ’s Wholesale Club, PetSmart and Staples.  The property is situated on Tonnelle Avenue (Routes 1 and 9) less than 10 miles from Midtown Manhattan and four miles from the entrance to the New Jersey Turnpike.  The center is located at the northern edge of Hudson County – the most densely populated county in New Jersey – and just one-half mile from Bergen County.

The HFF debt placement team representing the borrower was led by managing director Scott Aiese and senior managing director Mike Tepedino.

“HFF used its long-standing lender relationships and proprietary software, to identify the optimal long-term fixed-rate lender for Urban Edge,” Aiese said.  “Furthermore, not all retail is created equally; Tonnelle Commons is a 100-percent-occupied, highly performing center due to its infill location and laser-focused management team.”

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

 



HFF hires Chris McColpin as a director in its Austin, TX office


Chris McColpin
USTIN, TX, May 22, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that Chris McColpin has joined its Austin office as a director focused on debt and equity placement transactions for all property types.

Mr. McColpin has more than 12 years of commercial real estate finance experience and joins HFF from Lone Star Funds’ credit affiliate, LStar Capital, where he led originations for the Southwest region.

 During the course of his career, he has spent time on the loan origination teams of Morgan Stanley and Goldman Sachs & Co.  He began his commercial real estate career at HFF as an analyst in 2005.  

Mr. McColpin received a Master in Professional Accounting and a Bachelor of Business Administration from The University of Texas at Austin McCombs School of Business.  Additionally, he is a certified public accountant in the state of Texas

“Chris started his career back in 2005 at HFF’s Dallas office and we are thrilled to welcome him back to the team,” said Doug Opalka, senior managing director and co-head of HFF’s Austin office.  “Chris embodies the character we look for in our recruits and he will strengthen our existing debt and equity platform in the Austin office.”

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

 


HFF closes sale of Sheraton Suites Columbus in Columbus, OH


 
Sheraton Suites Columbus, 201 Hutchison Avenue, Columbus, OH


Denny Meikleham
BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of the 259-suite Sheraton Suites Columbus in Columbus, Ohio.

HFF represented the owner in the sale of the property to Regal Hospitality, based out of Columbus, Ohio.  The hotel was sold unencumbered by management.

The Sheraton Suites Columbus comprises 259 oversized guest suites, 3,185 square feet of meeting space, The Grill and The Lounge food and beverage outlets, an outdoor pool and sundeck, an indoor pool, fitness center, gift shop, business center and club lounge.

 The property is situated on a 4.21-acre site at 201 Hutchinson Avenue directly off of and visible from Interstate 270, which provides access to the Port Columbus International Airport 16 miles away. Additional demand drivers in the area include downtown Columbus, Ohio State University and nearby major corporations such as JP Morgan Chase, Nationwide Insurance, Honda of America, Kroger and Cardinal Health.

The HFF investment sales team representing the owner was led by managing director Denny Meikleham and director Alan Suzuki.

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


  

HFF arranges construction loan for first office building in CityPlace at Springwoods Village in Spring, TX


CityPlace, Spring, TX                             Rendering courtesy Patrinely Group  


Cortney Cole
                                                                                                            

HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a construction loan for the development of CityPlace 2, a 327,000-square-foot, Class A office building that will be the first office building to be developed in CityPlace in Spring, Texas.

Wally Reid
HFF worked on behalf of the borrower, a venture comprised of Patrinely Group, LLC; USAA Real Estate Company and CDC Houston Inc managed entity, to secure the five-year, fixed-rate construction permanent loan through American National Insurance Company headquartered in Galveston, Texas.

Due for completion in 2018, CityPlace 2 will be the first office building to be delivered within the larger 60-acre CityPlace mixed-use urban development that will feature more than four million square feet of Class A office, more than 600 units of luxury mid-rise residential, a 337-room full-service hotel and conference center, and more than 400,000 square feet of retail space including shops, restaurants and other entertainment options.

 CityPlace is part of the larger 2,000-acre Springwoods Village master-planned mixed-use community located at the intersection of Interstate 45, the Grand Parkway and the Hardy Toll Road in northeast Houston. 

Trent Agnew







Adjacent to the new Exxon Mobil Corporation Campus and Southwestern Energy Company’s new headquarters campus, the property is also close to Bush Intercontinental Airport, The Woodlands and not far from Houston’s Central Business District. 

CityPlace 2 will feature 10 stories of office space that is 100 percent pre-leased to American Bureau of Shipping.  The building will also feature 24,000 square feet of ground floor retail and dining and a parking structure for tenants and visitors.

The HFF debt placement team representing the borrower was led by senior managing director Wally Reid, managing director Cortney Cole and director Trent Agnew.

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

 


HFF closes $26.45 million sale of The Village at Hayden in Scottsdale, AZ


  The Village at Hayden, 8260 North Hayden Road, Scottsdale, AZ      Photo by Patrick Tang                                                      
CJ Osbrink
 PHOENIX, AZ, May 22, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $26.45 million sale of The Village at Hayden, a 156,751-square-foot mixed-use development in Scottsdale, Arizona.

HFF marketed the property on behalf of the seller, Village at Hayden, LLC, a partnership comprising AEW Capital Management, L.P. and The Muller Company, and procured the buyer, Arizona Partners.  The property was sold free and clear of financing.

The Village at Hayden is located at 8260 N Hayden Road just one half mile from Arizona State Route Loop 101, which sees an average of 180,000 cars per day.  The 11.83-acre site is part of the prestigious McCormick Ranch community north of Scottsdale. 

This trade area has an average household income exceeding $106,000 and more than 141,000 residents within a five-mile radius.  

At 97 percent leased, The Village at Hayden has a mix of regional and national retail and office tenants, including Capital Consultants Management, Company Nurse, Phoenix Photonix, Zipps Sports Grill, Twisted Grove, Melting Pot and Grassroots Kitchen.

The HFF investment sales team representing the seller was led by CJ Osbrink and Derreck Barker.

 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


Bull Realty Brokers $16.8 Million Medical Office Building in Athens, GA


Paul Zeman
ATLANTA (May 22, 2017) — Paul Zeman, President of Healthcare Real Estate Services at Bull Realty, brokered the sale of “The Exchange,” two identical medical office buildings totaling 61,203 SF in Athens, GA. The sale closed on May 18, 2017 for $16.8 million.

The Exchange was built in 2007 by Bell Harrison Development. St. Mary’s Healthcare System occupies all of Building 300 and the majority of the space in Building 200. 

Services at this location include full modality outpatient diagnostic imaging, wellness, cardiology, neurology, and endocrinology. Other tenants include Athens Dentistry for Children and Athens Oconee Dentistry at the Exchange.

Paul Zeman represented the sellers in this transaction, 316, LLC and Exchange Building 300, LLC.

The buyer was American Healthcare Investors, LLC/ Griffin American Healthcare REIT.

“Off campus MOB's with hospital sponsorship like these are gaining in popularity with investors and serve residents in the community with an outstanding service,” said Zeman.

Healthcare Real Estate Services (www.HealthcareRealEstateServices.com) are specialty brokers with Bull Realty, Inc. (www.BullRealty.com), a U.S. commercial real estate brokerage and advisory firm headquartered in Atlanta, licensed in nine states providing acquisition, disposition, leasing and advisory services. The firm also produces and hosts the nationally-syndicated Commercial Real Estate Show (www.CREshow.com). The popular weekly show is broadcast on radio stations nationwide, iTunes, YouTube and CREshow.com.

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

Melissa Henry
Communications Manager
Bull Realty, Inc. 
404-876-1640 x 110