Electra America Acquires 300-Unit Community in Raleigh, NC

The Flats on 401 Apartments, 5721 Goodstone Drive, Raleigh, NC

                                                                                                                      (Photo by Clear Sky)

 

Jeff Glenn

RALEIGH, NC – Electra America, one of the fastest-growing multifamily owner-operators in the Southeastern U.S., has acquired a 300-unit apartment community in Raleigh, NC.

Completed in 2015, the asset, currently known as The Flats on 401, will be rebranded as Level at 401, and enhanced with a variety of new features and amenities catering to Raleigh renters.

With this acquisition, Electra America now owns five garden-style multifamily communities in the Raleigh area, totaling over 1,500 units. This is the company’s second North Carolina acquisition this year – it recently acquired a property in Charlotte. Nationally, Robbins Electra’s portfolio includes more than 23,000 apartment units totaling over $2.5 billion in value.

Justin Good

 HFF marketed the property for the sellers, a local partnership. The HFF investment sales team was led by managing directors Jeff Glenn and Justin Good, and director Allan Lynch. Through their skills, the transaction was privately negotiated and closed in a transaction beneficial to both buyer and seller.

“Apartment demand in Raleigh is strong thanks to job and population growth,” said Joe Lubeck, CEO of Electra America. “Our pet-friendly, reasonably priced apartment communities cater to working professionals - police officers, nurses, and office workers. 

"By modernizing these properties, and providing outstanding customer service, I believe we are serving a niche in the market where demand definitely outstrips supply.”  

Located at 5721 Goodstone Drive, Level at 401 includes studio, one- and two-bedroom apartments in three separate four-story buildings. Apartments feature 9-foot ceilings, balconies, and a washer and dryer in each unit. The pet-friendly community offers resort-style amenities including a swimming pool, clubhouse, fitness center, professional area, spin room, outdoor fireplace and cabana area, and secluded courtyard gardens. 

Allan Lynch

Electra America will carry out a $1.5 million upgrade to apartment units and common areas, including installing granite countertops in each unit, adding plank flooring in common areas, and executing a remodel of the clubhouse, fitness center and pool deck area.

For more information on the Level at 401 acquisition or Electra America, please visit Electra America.com.

 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 | hfflp.com

ohennessey@hfflp.com

http://www.electraamerica.com/.

Hanley Investment Group Completes Sale of Brand New Two-Tenant Retail Property in La Quinta, CA for $8.86 Million

Washington Park Shopping Center Retail Building, 78-825 Highway 111, La Quinta, CA

Bill Asher

LA QUINTA, CA - Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced the firm completed the sale of a two-tenant retail building occupied by T.J. Maxx and ULTA Beauty at 78-825 Highway 111 in La Quinta, Calif.

The 33,708-square-foot pad building is part of Washington Park Shopping Center, which includes major tenants Target, Lowe’s, Trader Joe’s, ALDI, Stein Mart and Century Theatres. The sale price was $8,862,500.

Hanley Investment Group's Executive Vice President Bill Asher and company President Ed Hanley represented the seller, a private partnership based in Southern California. The buyer, a private investor from Los Angeles, was represented by Steven Gelber of Gelber Realty Corporation in Los Angeles.

Ed Hanley

Remodeled in 2016, the building is situated on 3.61 acres within the Washington Park Shopping Center at the signalized intersection of Highway 111 and Simon Drive and immediately surrounded by notable retailers ALDI, Chase Bank, Lowe’s and In-N-Out. T.J. Maxx and ULTA Beauty featured two new corporate-backed long-term leases.

Asher said that there was no shortage of interest in the property due to its location, quality of tenants and long-term leases.

 “We generated multiple qualified offers and ultimately proceeded with an all-cash 1031 exchange buyer based in Southern California who owned other similar assets in their portfolio,” said Asher. “We negotiated a one-week contingency period with a 30-day closing.”

Hanley Investment Group Real Estate Advisors is a retail investment advisory firm with a $5 billion transaction track record nationwide, who works closely with individual investors, lending institutions, developers, and institutional property owners in every facet of the transaction to ensure that the highest value is achieved. For more information, visit www.hanleyinvestment.com.

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

Anne Monaghan

MONAGHAN COMMUNICATIONS, INC.

anne@MonaghanPR.com

830.997.0963

HFF closes sale of Alexan Melrose in San Diego, CA area

Alexan Melrose Apartments, 1401 North Melrose Drive, Vista, CA

 

Hunter Combs

 SAN DIEGO, CA  -– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Alexan Melrose, a 410-unit, Class A apartment community in the northern San Diego suburb of Vista, California.

HFF marketed the property exclusively on behalf of Trammell Crow Residential and its joint venture partner.  MG Properties Group purchased the asset free and clear of existing debt.

Alexan Melrose is situated on approximately 20 acres at 1401 North Melrose Drive about seven miles from beachfront recreation and close to two full-service grocery stores, downtown Vista Village and Del Oro Marketplace. 

Completed in 2015, the three-story, garden-style community has one-, two- and three-bedroom units averaging 985 square feet with best-in-class finishes such as quartz countertops in the kitchens and baths, European-style cabinetry, stainless steel appliances, hardwood-style flooring, in-unit washers and dryers, soaking tubs and attached garages and carports. 

Community amenities include a resort-style pool and spa with cabanas, fire pit and grills; state-of-the-art fitness facility with kids’ entertainment suite; lounge with kitchen, billiards and gaming system; clubhouse with gourmet kitchen, coffee bar and flat screen TV; dog park and dog washing station; community garden; and outdoor tot lot.  The community is 97 percent occupied.

Sean Deasy

The HFF investment sales team was led by director Hunter Combs and senior managing director and co-head of the national multi-housing investment sales platform, Sean Deasy.

“This was a unique opportunity to acquire 410 highly-amenitized, transit-oriented units in the supply constrained submarket of Vista,” Combs said.  “Alexan Melrose is well-positioned for long-term growth resulting from its strategic location along the North County Sprinter line, giving residents a convenient commute to emerging downtown Vista and Cal State San Marcos.

“ Additionally, the property is near two of the State Route 78 corridor’s top employment hubs, Oceanside and Vista, with approximately 30,000 highly skilled jobs within industries such as life science, pharmaceuticals, action sports and information and communication technologies.”

 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 | hfflp.com

ohennessey@hfflp.com

http://tcr.com

Core5 Industrial Partners Sells Initial Metro Atlanta Development

Core5 Logistics Center at Shugart Farms, Metro Atlanta, GA

ATLANTA, GA – Atlanta-based Core5 Industrial Partners announced the recent sale of their initial development in Metro Atlanta, 873,800-square-foot Core5 Logistics Center at Shugart Farms, to a private institutional investor.

 The high cube logistic facility completed construction in early 2017 and is fully leased on a long-term basis to The Duracell Company, a wholly-owned subsidiary of Berkshire Hathaway.

Lisa Ward

“The location, building quality, site functionality and the tenant were all key elements which made this asset highly sought after by investors,” stated Lisa Ward, Senior Vice President and Managing Director for Core5.

“We are delighted with the results of our first investment in Metro Atlanta. Core5 is very bullish on the market and has another 4.8 million square feet in seven projects under construction or in the immediate pipeline around the city. We continue to see significant demand from large-scale users in the metro area with absorption outpacing supply.”

Chris Riley

Core5 was represented on the investment sale by Chris Riley, Frank Fallon and Trey Barry of CBRE National Partners.

“Core5 Logistics Center at Shugart Farms was one of the best industrial investment offerings in the country and achieved pinnacle pricing for the Atlanta market,” noted Chris Riley of CRBE National Partners.

Core5 Industrial Partners is an industrial real estate property company with expertise in development and acquisition of Class-A industrial properties throughout the United States. Headquartered in Atlanta, Georgia and named for its five core business principles, Core5 was capitalized in 2015 by Kajima USA Group following the sale of their $2 billion-dollar portfolio, IDI, to Brookfield.

With current development activity totaling over 7.5 million square feet in Atlanta, Chicago, Dallas, Los Angeles/Inland Empire, Memphis and South Florida, Core5 expansion plans include the key logistic hubs throughout the US.

Frank Fallon

For more information on Core5 Industrial Partners, visit www.c5ip.com.

Located in six key logistics hubs across the country, CBRE National Partners is the national market share leader in industrial investment sales transacting more than 132 million square feet in 2016. The Southeast team has been responsible for $18.2 billion in transactions nationwide.

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

RITA SKAGGS

RED DART Real Estate Consulting

404.788.3231

rita@reddart.co

Westwood Financial Acquires Trader Joe’s Anchored Shopping Center in Charlotte, NC

The Arbors at Mallard Creek Shopping Center, Charlotte, NC

Joe Dykstra

Charlotte, NC (June 26, 2017) – Westwood Financial LLC, a Los Angeles-based owner-operator of high-quality shopping centers with a portfolio totaling over $1.5 billion throughout the U.S., has acquired The Arbors at Mallard Creek, a 55,323 square-foot, Trader Joe’s-anchored neighborhood center in Charlotte, North Carolina for $25.1 million.

“Trader Joe’s is one of the strongest and fastest growing specialty grocers in the nation today, outperforming other fresh format and traditional grocery stores in sales per square foot,” says Joe Dykstra, Co-CEO of Westwood Financial.

“This retailer has created great customer loyalty, which we have experienced for many years in California, while differentiating itself by delivering a unique shopping experience and quality at a reasonable price point because 80 percent of its store merchandise consists of proprietary brands.

“With 464 stores in highly educated and affluent locations throughout the U.S., Trader Joe’s is a strong anchor-tenant at neighborhood centers such as The Arbors.”

98 percent occupied at acquisition, the center boasts a high-quality tenant mix of 19 national and regional specialty retailers, including Petco and Massage Envy, as well as restaurants such as Hickory Tavern, Zoë’s Kitchen, and more.

Randy Banchik

“This center has commanded historically high renewal rates and strong leases with scheduled rental increases, providing stable cash flow and upside potential,” continues Dykstra. 

“As one of the primary retail centers in Charlotte with the only Trader Joe’s in a 10-mile radius, the asset faces limited competition and will continue to perform extremely well over time.”

Located in the University City neighborhood of Charlotte, home to over 20 Fortune 500 companies, The Arbors at Mallard Creek serves a highly educated and affluent community. 

The average household income in a one-mile radius is $120,727, and population growth is projected to increase 2.24% over the next four years.

“Charlotte has emerged as a financial powerhouse and currently ranks as the second largest financial center in the country,” explains Co-CEO Randy Banchik. “The market has demonstrated rapid growth and strong employment gains across all sectors, especially in the financial industry. Based on these fundamentals, this retail center is well-positioned to cater to local businesses and nearly 90,000 employees within a five-mile radius.”

Casey Rosen

Banchik notes that the property is located in close proximity to the University Research Park, and about four miles away from the University of North Carolina, Charlotte, serving as the primary daily needs center for employees and students throughout the area. 

The region’s highly educated and affluent demographic translates to enormous consumer buying power and will continue to drive strong demand for this retail asset, according to Banchik.

Grocery-anchored, necessity retail centers in densely populated areas are enjoying high demand and resiliency in the midst of the evolving retail landscape, according to Banchik.

Mike Burkard

“As the retail landscape continues to evolve, daily needs centers have proven to be resilient to pressures facing traditional brick-and-mortar retailers,” adds Banchik. 

“This asset boasts a variety of internet resistant tenants, insulating it from factors such as the rise of online shopping. Overall, this acquisition is well-aligned with our strategy of targeting daily needs centers with high-quality tenants that can cater to the demands of today’s consumers.”

The Arbors at Mallard Creek is located at 2121 E. Arbors Drive in Charlotte, North Carolina. The property is situated at the intersection of Mallard Creek Church Road and Senator Royall Drive, a mile away from the I-85 freeway, and is visible to 43,000 vehicles per day.

Mike Burkard and Casey Rosen at CBRE | National Retail Partners represented both the buyer and seller in this transaction.

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

Lauren Burgos / Lexi Astfalk

Brower, Miller & Cole

(949) 955-7940

LBurgos@browermillercole.com

www.westfin.com.

HFF arranges $28.5 million sale and joint venture partnership for the acquisition of Torrey Hills Medical Plaza in San Diego, CA

                                                                                  

Torrey Hills Medical Plaza, 4765 Carmel Mountain Road, Carmel Valley Submarket,
 San Diego, CA

                                                                                                              (Photo by Bill Robinson)

 

Evan Kovac

SAN DIEGO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged the $28.5 million sale of Torrey Hills Medical Plaza, a 44,091-square-foot, Class A medical office building in the Del Mar Heights/Carmel Valley submarket of San Diego, California.

HFF marketed the property on behalf of the seller, Torrey Pines Enterprises, LLC, and procured the buyer, Torrey Hills MOB, LLC. 

Additionally, HFF worked on behalf of the buyer in arranging a joint venture with an institutional equity investor and negotiating the assumption and modification of the existing life insurance company loan. 

Torrey Hills Medical Plaza is located on a 2.59-acre site at 4765 Carmel Mountain Road within the Von’s-anchored Torrey Hills Center.  This location is accessible to the 5 and 805 Freeways as well as US Route 56, providing connectivity to all areas of San Diego. 

Additionally, the property is within minutes of UCSD’s Thornton Hospital, Scripps Research Institute, Scripps Memorial Hospital, The Salk Institute San Diego and the VA Medical Center.  Completed in 2005, the two-story building is 92 percent leased and anchored by Fresenius Medical Care.  

The HFF investment sales team representing the seller was led by managing director Evan Kovac, director Nick Frasco, associate Andrew Milne and real estate analyst Trent Jemmett. 

Nick Frasco

HFF director Zack Holderman led the efforts in arranging the joint venture, as well as working with the current life company lender on the assumption and loan modification.

“The quality of the asset and expertise of the buyer, along with a desirable asset and high barriers to entry, enabled HFF to parallel the investment sales process and successfully capitalize this complex transaction in a condensed timeframe. 

"We are fortunate to have a dedicated medical office capital markets team working together to provide dynamic solutions for our clients.” said Holderman.

 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

HFF arranges $80 million acquisition financing for BLVD Place in Houston, TX

 BLVD Place,  1700 Post Oak Boulevard, Uptown District, Galleria area, Houston, TX

                                                                                                                    (Photo by Shau Lin Hon)

Matt Kafka

HOUSTON, TX  -– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged financing for BLVD Place, a 216,692-square-foot, mixed-use retail and office project with 1.42 acres of additional developable land in the Uptown District/Galleria area of Houston, Texas. 

HFF worked on behalf of the borrower, Whitestone REIT, to secure the 10-year, fixed-rate loan.  HFF also represented the seller, a partnership of San Francisco-based Bailard, Inc. and Wulfe & Co, in the sale of BLVD Place. 

Anchored by Whole Foods, BLVD Place is the only grocery-anchored, major mixed-use development in Houston. The project is 99.2 percent occupied and home to a diverse mix of tenants, including Frost Bank, Post, The Boardroom, Verizon, Elaine Turner, Sozo Sushi and True Food.

 Included in the purchase of BLVD Place is approximately 1.4 acres of developable land that will give the borrower the ability to build an estimated 137,000 square feet of additional leasable space. 

Located at 1700 Post Oak Boulevard in the epicenter of Uptown Houston, BLVD Place is in one of the largest business districts in the United States and has immediate access to Loop 610, US-59 and Westpark Tollway. It is proximate to River Oaks, Tanglewood, West University Place, Memorial Village and Bellaire, some of Houston’s most prestigious and affluent neighborhoods.

Kelly Lane

 More than 173,193 residents earning an average annual household income of $120,037 live within a three-mile radius of the property. 

The HFF debt placement team representing the borrower was led by senior managing director Matt Kafka and director Kelly Layne.  Kafka was also involved in brokering the sale of the property along with senior managing directors Wally Reid, Rusty Tamlyn and Ryan West, managing director Davis Adams and director Trent Agnew.

“The transaction had a short time frame and several complicated moving parts but everyone involved performed flawlessly,” Kafka said.

“The iconic nature of this real estate had capital in a frenzy when the perception of the Houston market was at its lowest,” West added.  “This was clearly one of those rare opportunities to capitalize on owning one of the highest-profile corners in the fourth largest city in the country.  We commend Whitestone for their recognition of this opportunity.”

 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.whitestonereit.com

The Hampshire Companies Sell Six-Building Northern New Jersey Industrial Portfolio for $146.85 Million

Six-Building Industrial Portfolio, northern New Jeesey

Mark Rosen

MORRISTOWN, NJ -– The Hampshire Companies announced the $146.85 million sale of a six-building industrial portfolio totaling 1.2 million square feet in northern New Jersey.  Holliday Fenoglio Fowler, L.P. (HFF) marketed the transaction on behalf of The Hampshire Companies. 

The portfolio comprises 200 Middlesex Avenue in Carteret (408,437 square feet); 39 Robinson Road in Lodi (73,373 square feet); 301 Mayhill Street in Saddle Brook (200,000 square feet); 30 Wesley & Worth in South Hackensack (245,824 square feet); and 5 Henderson Drive (210,530 square feet) and 2 Dedrick Place (80,000 square feet) in West Caldwell. 

All of the properties are in infill locations in established industrial submarkets and are near both demand drivers and major transportation arteries servicing their respective markets.  The stabilized portfolio is 96 percent leased to a variety of tenants, including Continental Terminals, R.R. Donnelley, FreshPro Food Distributors and Sealed Air.

The Hampshire Companies team was led by principals and executive vice presidents Todd Anderson and Mark Rosen.

Todd Anderson

“Given its access to the Ports and major area highways, northern New Jersey has become a hub for logistics real estate,” said Anderson. “As e-commerce continues to grow it will fuel demand for logistics real estate.  This demand will include new and existing space. 

“Our northern New Jersey industrial portfolio offers immediate access to large population centers making it highly attractive for companies requiring last-mile facilities.  With demand high and product limited now was the right time to execute our investment strategy and sell the portfolio. 

“Together with our internal team at Hampshire, HFF proved to once again be an excellent partner in assisting us to market the transaction and produce a qualified buyer for the highly sought-after portfolio.”

The HFF team was led by executive managing director Joe B. Thornton, Jr., senior managing directors Jon Mikula and Jose Cruz, managing director David Giancola and associate director Robert Borny.

“We are excited to bring HFF’s full capital markets expertise in to help Hampshire execute an important strategic transaction,” said Mikula.

  

“This portfolio sale drew a significant amount of interest from the institutional community and represents the largest industrial sale in New Jersey this year,” added Cruz.  “The potential rental upside and strategic locations resulted in very aggressive pricing as demand for core plus industrial in the state continues to be very strong.”

Joe B. (Jody) Thornton Jr.

 The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey.  The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments.

  Additional information on The Hampshire Companies is available online at www.HampshireRE.com.

 To stay connected with The Hampshire Companies and for updates on the latest transactions and news follow the company on Facebook (www.facebook.com/hampshireco), Twitter (@hampshireco), and LinkedIn (www.linkedin.com/company/the-hampshire-companies).

 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

HFF closes $59.75 million sale of and arranges $33.5 million in financing for Peninsula Executive Center in Boca Raton, FL

 

Peninsula Executive Center, Boca Raton, FL

Chris Drew

MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $59.75 million sale of and arranged $33.5 million in financing for Peninsula Executive Center, a 187,784-square-foot, Class A office property in Boca Raton, Florida.

HFF marketed the property on behalf of the seller and procured the buyer, C. Talanian Realty Co.  Additionally, HFF worked on behalf of the new owner to secure the long-term, fixed-rate financing through Principal Real Estate Investors. 

Peninsula Executive Center consists of two four-story office buildings and a 742-space parking structure located at 2381 and 2385 Executive Center Drive in Boca Raton. 

This location is centrally located in the heart of Boca Raton’s most coveted office submarkets and adjacent to the Midtown Boca district.  Additionally, the property is surrounded by an abundant amount of executive housing and amenities, including Town Center Mall and University Commons.  The property is currently 97 percent leased and is anchored by Newell Brands. 

Hermen Rodriguez

The HFF team was led by senior managing directors Chris Drew and Hermen Rodriguez, director Ike Ojala, associate director Brian Gaswirth and associate Matthew McCormack.

“This acquisition marks the first major investment in South Florida by C. Talanian Realty Co.,” said Drew.  “The buyer was attracted this opportunity due to its main and main location within the heart of Boca and the durable long-term cash flow. 

“A number of balance sheet lenders aggressively pursued this opportunity; however, Principal was ultimately selected due to their deep knowledge of the Boca office market and their ability to structure a creative financing solution.”

Rodriguez added, “This was a highly sought after investment opportunity in the very dynamic West Boca office 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

   

HFF closes sale of award-winning Hilton Dallas Park Cities hotel

Hilton Dallas Park Cities Hotel, Preston Center, Dallas, TX 

John Bourret

ALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Hilton Dallas Park Cities, a 224-room, AAA Four Diamond hotel in Dallas’ Preston Center.

HFF marketed the property on behalf of the seller.  Woodbine Legacy Investments (WLI) purchased the hotel, which is the new fund’s inaugural purchase.

The 11-story Hilton Dallas Park Cities was completed in 2001 and extensively renovated between 2012 and 2013.  The hotel features an array of amenities, including a heated outdoor rooftop pool with city views, business center, fitness center, HHonors lounge, 10,259 square feet of meeting and event space, lobby bar and Grain full-service restaurant.

 Situated on almost a full acre at 5954 Luther Lane, the hotel is located in the heart of Preston Center, the city’s most prestigious office district.  The property is bordered by some of Dallas’ most affluent neighborhoods and the Dallas North Tollway, providing guests access to demand generators, including Southern Methodist University, the two million-square-foot NorthPark Center mall and 3.1 million square feet of Class A office space.

Austin Brooks

The HFF investment sales team representing the seller was led by managing director John Bourret and associate director Austin Brooks.

Woodbine Legacy Investments is a real estate investment platform that focuses on branded, boutique and independent hotel acquisitions and investments across the United States.  

Capitalized by select family offices, foundations and institutions, WLI pursues lower-risk, conservatively leveraged, full-service and select-service hotel assets in top-tier markets that offer long-term cash-flow opportunities for investors. 

 The fund is led and owned by Woodbine Development Corporation. 

 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

HFF arranges $29.975 million acquisition financing for Whole Foods-anchored retail center in Birmingham, AL

Cahaba Village Shopping Center, Mountain Brook, AL

Gregg Shapiro

ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $29.975 million in acquisition financing for Cahaba Village, a 115,180-square-foot, trophy, Whole Foods-anchored retail center in the affluent Birmingham submarket of Mountain Brook, Alabama.

HFF worked on behalf of the borrower, an institutional client advised by L & B Realty Advisors, to place the 10-year, fixed-rate loan with Guardian Life Insurance Company of America. 

Additionally, HFF will service the loan, proceeds of which provided post acquisition financing for the purchase of the property in a sale brokered by HFF.

Cahaba Village is a generational asset located in Mountain Brook, one of the most affluent markets in Alabama, and is strategically positioned along U.S. 280, the main retail corridor in Birmingham.

 The property is home to one of the most dynamic, highest-performing tenant line-ups in the southeast and features such notable tenants as Whole Foods, Diamonds Direct, Mountain High Outfitters and Bryant Bank.   

The HFF debt placement team was represented by managing director Gregg Shapiro and senior managing director John Rose.

  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.lbrealty.com

PulteGroup Promotes Clint Ball to Division President

Clint Ball

ORLANDO, FL--- PulteGroup, Inc. promoted Clint Ball to North Florida Division President overseeing homebuilding by Pulte Homes, Centex Homes and Del Webb brands from the greater Orlando area north to Jacksonville. 

Peter Keane, Florida Area President said Ball was formerly Vice President of Operations for the North Florida Division. 

In his new role as division president, Ball will be responsible for all homebuilding and community development operations in the two markets and in particular for the Orlando MSA where 12 new Pulte and Centex communities are being launched in 2017 representing a positive economic investment in the region.

The 12 new communities opening this year – five in Orange County, four in Seminole, two in Osceola and one in Lake County-- are in addition to 16 existing Orlando area communities where the homebuilder is already active.

Peter Keane

Ball has been with PulteGroup for eight years.  He started as a division controller, and quickly moved through the ranks being promoted from Vice President of Land Acquisition to Vice President of Operations in 2016.  

A Florida native and lifelong Orlando resident, Ball started his career with Deloitte; he has also held senior financial positions at Golf Channel.

“Clint has shown great leadership and strength as our VP of Operations in North Florida and we look forward to continued growth in the Orlando and Jacksonville marketplaces under his direction as division president,” said Keane.

PulteGroup currently has 200 employees in the North Florida division and will continue to add employees to support the opening of 12 new communities.

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

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

  

HFF secures $75 million construction loan for life science lab project in South San Francisco

Genesis North Tower Life Science Building, South San Francisco, CA

Tim Wright

SAN DIEGO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $75 million construction loan for the development of Genesis North Tower, a 21-story, 390,000-square-foot life science building in South San Francisco, California.

HFF worked on behalf of the borrower, Phase 3 Real Estate Partners, Inc., in arranging the construction loan through a national bank lender. 

Genesis North Tower is located at Two Tower Place immediately adjacent to and visible from Highway 101 in South San Francisco’s life science hub.  This location is less than 10 minutes from the San Francisco Airport and proximate to the Bart/Caltrain lines of the San Bruno and South San Francisco stations. 

The shovel-ready project is the second phase of a combined 800,000-square-foot life science project, which also includes the existing Genesis South Tower lab property and future seven-story Hotel and Amenity center. 

The HFF debt placement team representing the borrower was led by senior managing director Tim Wright, managing director Todd Sugimoto, director Zack Holderman and associate Olga Walsh.

Olga Walsh

Phase 3 Real Estate Partners, Inc. (P3RE) is a progressive real estate company dedicated to fostering the growth of the life science community by providing premiere, Class A environments that meet the needs of companies today and in the future. 

P3RE’s properties are located in the epicenters of the life science markets in San Diego and San Francisco.  These are innovative urban centers for the life sciences, and represent two of the top three life science clusters in the world.

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

Hold-Thyssen Locates New Tampa Office for Law Firm

                                  

Theresa Margaris

Tampa / Clearwater, FL  --- Hold-Thyssen, Inc. a full service commercial real estate firm, recently negotiated a new lease agreement for 2,000 rentable square feet in suite 106 of the office building located at 13528 Prestige Place in Tampa. 

Leasing Associate Theresa Margaris of Hold-Thyssen’s Clearwater office brokered the transaction between the Landlord, Stephen R. Loveridge d/b/a Lodegiver, LLC, and Tenant, Law Offices of Michelangelo Mortellaro, P.A., a seasoned professional with more than a decade of experience in elder law legal needs including estate planning, probate, Medicaid asset protection and VA benefits. 

13528 Prestige Place, Tampa, FL

Margaris said her extensive knowledge of the local market enabled her to successfully match the specific needs of the Tenant with an unlisted vacancy to create a win-win for both parties. 

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

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

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

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