Friday, July 28, 2017

HFF closes sale of and arranges financing for northeast Dallas, TX retail center


 
Aaron Johnson
DALLAS, TX  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged financing for Northview Plaza, a 116,099-square-foot, grocery-anchored community shopping center in northeast Dallas, Texas.

HFF marketed the property on behalf of the seller, California-based MDT Properties.  A partnership between Foundry Commercial and Stockbridge purchased the asset free and clear of existing debt.

Additionally, HFF worked on behalf of the new owners to place the floating-rate loan with First Midwest Bank.  Loan proceeds will be used to fund the acquisition and capital improvements at the property.

Situated on 15.46 acres at 10675-10677 East Northeast Highway in the northeastern part of Dallas, Northview Plaza is located at the intersection of the Northwest Highway and Plano Road, which have combined traffic counts of approximately 51,771 vehicles per day.

  The center is located in an urban infill location inside the Interstate 635 loop between the Lake Highlands and White Rock Lake neighborhoods, both of which have seen significant gentrification since 2010.

Ryan Shore
 More than 122,000 residents with an average annual household income of $78,000 live within three miles of the center. 

Completed in 1991, Northview Plaza is 86 percent leased to a mix of national and local retailers and restaurants, including Kroger, Petco, Allstate Insurance, T-Mobile, Go 4 It Sports Grill, Great Clips McDonald’s and White Rock Chiropractic.

The HFF investment sales team representing the seller was led by director Aaron Johnson, managing director Ryan Shore and senior managing directors Jim Batjer and Barry Brown.

The debt placement team representing the new owner was led by senior 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 | hfflp.com





HFF secures $12 million refinancing for RV park in Oceanside, CA

  
Zach Koucos
SAN DIEGO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $12 million refinancing for Oceanside RV Park, a 138-space coastal asset in the northern San Diego County beach community of Oceanside, California.

Working on behalf of the borrower, Pacific Current Partners, HFF placed the interest-only, floating-rate loan through Prime Finance.

Oceanside RV Park is located at 1510 South Coast Highway steps from the beach and proximate to Interstate 5 and Routes 76 and 78, providing access to nearby cities in Southern California.

 The coastal resort community is situated on two parcels totaling 7.37 acres along the famed Pacific Coast Highway. Amenities include a clubhouse, swimming pool, spa, showers, pet area, laundry room, free WiFi, extensive landscaping and full hook-ups for all RV spaces.

The HFF debt placement team representing the borrower was led by senior director Zach Koucos and director Chris Collins.

“This was a unique assignment where we had to cover a wide array of capital providers to source the most optimal financing,” Koucos said.  “The team at Pacific Current Partners are true experts in the mobile home/RV industry, and have added tremendous value to this asset.”

Thom Niederkofler of Pacific Current Partners added, “What’s great about this loan is that it allows us to continue reinvesting in the park to improve the amenities and experience for our valued guests, while providing a healthy distribution to investors.”

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


New Hire in JLL Phoenix Office Expands Company’s National Property Tax Practice

  
 
Domingos Santos Jr.
 PHOENIX, AZ – JLL announced it has expanded its national property tax practice, adding Domingos Santos, Jr. as a Senior Vice President in the JLL Phoenix office. Santos joins three other new U.S. team members who, along with Santos, Jr., will report to David Dodd, Executive Vice President for JLL’s Valuations and Advisory Services.

“We are committed to growing our national property tax group, and each of our new hires has the right experience and industry knowledge to enhance our service offerings,” said Dodd. “Growing our team enables us to offer our clients a wider range of expertise and expands our geographical footprint.”

“Domingos represents a key strategic hire in the Southwest Region and establishes property tax advisory as part of our full-service offering to clients,” said JLL Market Director Peter Belisle.

Santos, Jr. will lead JLL’s property tax services in Arizona, specializing in assisting clients pursuing value-add real estate strategies and those challenging or defending property tax valuations.

 He joins JLL’s Valuation and Advisory Services team, part of a global network comprised of experienced, licensed, qualified appraisers who use local insights and years of expertise to deliver accurate, reliable and prompt valuations.

 In 2016, this team completed over 11,000 assignments totaling more than $56 billion in asset value. For further information, visit us.jll.com/valuation-advisory.

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

Stacey Hershauer
focusAZ
Marketing & Public Relations
(480) 600-0195

Hold-Thyssen Negotiates Five-Year Lease at Silver Star Shopping Center in Orlando, FL for Post Secondary Health School



Alex Rowlinson
ORLANDO, FL --- Hold-Thyssen, Inc., a full service commercial property firm based in Winter Park, recently negotiated a five-year lease agreement for 2,696 rentable square feet at Silver Star Shopping Center, 5314 Silver Star Rd., Orlando. 

Hold-Thyssen Leasing Associate Alex Rowlinson brokered the transaction on behalf of the landlord, a south Florida investor. 

The new tenant is The Center For Professional Training and Development, Inc. 

Rowlinson said the post secondary health care school that has been in business over 20 years, chose their new location for its close proximity to Evans High School where students as well as the Pine Hill Community will benefit from this type of educational facility.

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.

Hold-Thyssen negotiates long-term lease at 222 South New York Ave. Building in Winter Park, FL with Premier Sotheby’s International Realty

 
Darby Hold

 WINTER PARK, FL--- Hold-Thyssen, Inc., a full service real estate services firm recently negotiated a new five-year lease of the first floor at 222 S. New York  Ave. in Winter Park. 

Hold Thyssen’s Darby Hold negotiated the lease representing the Landlord, Olde Town Holdings, LLC,   


 The new tenant, Premier Sotheby’s International Realty, leased the space consisting of 2,180 rentable square feet for its Winter Park office that will open Sept. 1.   

The luxury real estate brokerage, with offices throughout Florida and the Carolinas, has over 40 locations worldwide.

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.

Thursday, July 27, 2017

HFF arranges £17.034 million ($22.25 Million U.S.) financing for KAO ONE in Harlow, Essex, London



KAO ONE office complex, Harlow, Essex, London


LONDON, ENGLAND –– HFF Real Estate Limited (HFF) announced it has arranged £17.034 million ($22.25 million U.S.) in financing for KAO ONE, a 118,854-square-foot office property in Harlow, Essex, London. 

HFF worked on behalf of the borrower, AR Investments Limited, which was advised by Capital Trust Limited, to secure the four-year, floating-rate acquisition loan through ICBC (London) Plc.

Fully refurbished in June 2016, KAO ONE is 100 percent leased to Raytheon Systems Ltd and Arrow Electronics.

  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



HFF arranges equity and debt for 221-unit multi-housing development in Charleston, SC








Rendering of Planned 511 Meeting Apartments, Charleston, SC


ATLANTA, GA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged equity and construction financing for the development of 511 Meeting, a seven-story, 221-unit multi-housing community in Charleston, South Carolina.


Megan Thompson

HFF worked on behalf of Spandrel Development Partners to arrange a general partnership with Origin Investments and Aspen Heights.  Subsequently, on behalf of the newly created partnership, HFF secured $59.216 million in construction/permanent financing and limited partner equity through Northwestern Mutual.

Gregg Shapiro

Due for completion in 2019, 511 Meeting will be situated on 1.6 acres in Charleston’s Upper King Street district, which was ranked by U.S. News and World Report as one of the 10 Best Shopping Streets in the United States.

 The property will consist of a blend of conventional and workforce housing units along with 2,000 square feet of ground-floor retail.  Unit layouts will include studio, one- and two-bedroom units ranging from 520 to 1,050 square feet each. 

The podium-style building will feature two levels of parking at its base topped with four floors of housing on the east side of the building and six floors of housing on the west side.  First-in-class community amenities will include a resort-style swimming pool and relaxation lounge in the courtyard as well as work space and multi-functional rooms.

The HFF team representing the developer was led by managing director Gregg Shapiro, director Megan Thompson and senior managing director Jason Nettles.

“After assembling a general partnership comprising a top-notch entitlement, development and construction team, we were extremely pleased that Northwestern Mutual came in to provide both the construction financing and limited partner equity to complete this exciting project on the extremely difficult to develop Charleston peninsula,” Shapiro said.

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

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com




HFF closes sale of two apartment towers in Newark, NJ

  
 
Jose Cruz
 FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of The Addison, two 15-story apartment towers totaling 219 units in Newark, New Jersey.

HFF marketed the property exclusively on behalf of the seller, Azure Partners LLC.

The Addison is located at 380 and 402 Mount Prospect Avenue in the Forest Hill section of Newark.  

Both towers are conveniently located approximately ten minutes from downtown Newark and 25 minutes from Manhattan via the Holland Tunnel and are adjacent to a host of retail options, public transportation, a county park and major highways. 

The Addison offers a variety of studio, one-, two- and three-bedroom units ranging from 700 to 1,750 square feet.  The property is 99 percent occupied.

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

“We continue to see high demand for infill multifamily properties throughout the state with significant value,” stated Cruz.

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


HFF closes sale of Publix-anchored shopping center in Birmingham, AL



Daniel Finkle
MIAMI, FL, July 27, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Clay Marketplace, a 66,165-square-foot community shopping center anchored by Publix in Birmingham, Alabama.

HFF marketed the property on behalf of the seller, Kite Realty Group Trust.  The property was purchased free and clear of financing.

Clay Marketplace is anchored by Publix, the dominant grocery store in the region, and is 98 percent leased to AutoZone, Subway, Phil Rose Shoes, Spirit Locker, Pasquale’s and more.

 Situated on 7.8 acres at 2121 Sweeney Hollow Road, the center is in northeastern Birmingham on the west corner of the intersection of Chalkville Mountain Road, Old Springville Road and Sweeny Hollow Road, three of the trade area’s major roadways with combined traffic counts of approximately 53,970 vehicles per day. 

There are more than 48,000 residents earning an average annual household income of $64,747 within a three-mile radius of Clay Marketplace.

The HFF team representing the seller was led by senior managing director and co-head of HFF’s retail practice Daniel Finkle, senior managing directors Jim Hamilton and Brad Peterson and director Eric Williams.

“Clay Marketplace represented a rare opportunity to acquire a dominant Publix-anchored shopping center in Birmingham, Alabama, with strong tenant performance,” Hamilton said.

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

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com


HFF arranges $17.729 million financing for retail power center near Dallas, TX



 
Chris Drew
MIAMI, FL, July 27, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $17.729 million in post-acquisition financing for Creekwalk Village, a 174,484-square-foot, fully leased retail power center in the north Dallas-area community of Plano, Texas.

HFF worked on behalf of the borrower, an entity controlled by Sterling Organization, to place the loan with Southside Bank.

Creekwalk Village is home to Michaels, Bed Bath & Beyond, Barnes & Noble, Petco, Old Navy, Designer Shoe Warehouse, Plano Urgent Care, Uptown Nail Spa and Hallmark.

 Situated on 14.71 acres at 801 West 15th Street, Creekwalk Village is proximate to Collin Creek Mall and the 180-acre CityLine mixed-use development comprising three million square feet of office and 92,000 square feet of retail space; a Whole Foods Market; 1,700 residential units and 150 hotel rooms. 

Approximately 103,699 residents earning an average estimated annual household income of more than $94,500 live within three miles of the property.

The HFF debt placement team was led by senior managing director Chris Drew, senior director Nat Scarmazzi and director De’On Collins.

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



Audubon Communities Acquires Gainesville, GA Multifamily Property in $22 Million Deal


Myles Cunningham

ATLANTA, GA (July 27, 2017) – Audubon Communities, an Atlanta-based company specializing in the acquisition and management of multifamily properties throughout the Southeast, has purchased the 292-unit Lenox Park complex in rapidly growing Gainesville, Georgia for $22 million. The property will be renamed Peaks at Gainesville.

Audubon plans to invest nearly $3 million in improvements to the property, which was built in 2000 and consists primarily of large two- and three-bedroom apartments that average 1,100 square feet, making it ideal for families and roommate living arrangements.

“Gainesville is a highly desirable market because of its strong population and job growth,” said Myles Cunningham, Audubon’s vice president of acquisitions. “Lenox Park was a quality property in a great location. It was an attractive investment, and we believe the renamed Peaks at Gainesville will be a big success.”

The population in the Gainesville area has grown more than 40 percent since the 2000 Census. Employment grew 6.2 percent in 2015, easily the fastest rate in the state and the third-fastest in the South. Employment is anchored by Northeast Georgia Health System, which employs more than 7,000 people. Hall County is home to 300-plus manufacturing and processing businesses, and 46 international companies representing 18 nations.

Christopher Edwards
Audubon’s planned renovations include:

§  Upgrades to the leasing office, pool and other amenity areas
§  Addition of a fitness center
§  Renovation and expansion of the existing playground
§  New fiber-cement siding
§  New lighting, exterior paint and signage
§  Correcting drainage and erosion issues and installing new landscaping

“We’re confident the investments we’re making to improve the property will be appreciated by current residents and be a great selling point for our leasing staff going forward,” said Christopher Edwards, Audubon’s managing director.

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

Gary Tanner
The Wilbert Group
678-677-9754



Fimiani Development Corp. Acquires Willow Tree Plaza in Cookeville, TN


Willow Tree Plaza, Cookeville, TN

Mike Fimiani
BOCA RATON, FL (July 27, 2017) – Fimiani Development Corporation has acquired Willow Tree Plaza in Cookeville, Tenn. from Willow Tree Partners for $4.225 million.

The 110,000 square-foot shopping center, located at 138 Willow Avenue in Cookeville, is anchored by Save A Lot, Harbor Freight Tools, Aaron’s and Family Dollar. Boca Raton, Fla.-based Fimiani Development Corporation plans extensive renovations to Willow Tree Plaza including repainting the center, adding a new roof and repaving the parking lot.

“Willow Tree Plaza’s close proximity to the historic downtown and central business district, Tennessee Tech University and Cookeville Regional Medical Center makes it an appealing location for retailers,” said Mike Fimiani, president of Fimiani Development. “We look forward to renovating the property which will add value not only for our tenants but also for the community.”

Fimiani represented Fimiani Development and Zach Taylor and Jonathan Gerzburg of Marcus & Millichap represented the seller. For more information, visit www.fimiani.com.

Zach Taylor
 Fimiani Development Corporation is a boutique development firm located in downtown Boca Raton, Fla. focused on creating value by redeveloping retail and commercial real estate projects throughout Florida and the southeastern United States.

What differentiates the company from others is its size, experience, focus and attention to detail. Services include acquisition and redevelopment of existing shopping centers; consultation in developing third-party leasing programs; performing third-party leasing assignments of retail centers; and receivership and workout assignments of retail, commercial and residential real estate projects.

For more information visit www.fimiani.com.

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

Samantha Van Nuys
Pierson Grant Public Relations
6301 Northwest 5th Way, Suite 2600
Fort Lauderdale, FL  33309
P: (954) 776-1999  ext. 115
F: (954) 776-0290

                          
High Impact Digital

J.P. Morgan purchases Denver-area ultra-luxury apartment in $127.4 million sale closed by HFF



Kent Place Residences, Cherry Hills Village Area, Englewood, CO

DENVER, CO  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $127.4 million sale of Kent Place Residences, a 300-unit, ultra-luxury, Class A apartment community located in the Cherry Hills Village area of Englewood, Colorado.


Anna Stevens

HFF marketed the asset on behalf of the seller, Forum Real Estate Group.  Institutional investors advised by J.P. Morgan Asset Management purchased the asset and assumed the existing financing at closing.

The HFF investment sales team representing the seller was led by managing director Jordan Robbins and directors Jeff Haag and Anna Stevens.

Completed in 2015, Kent Place Residences consists of three four- or six-story buildings offering a mix of one-, two- and three-bedroom units averaging 1,243 square feet, more than 25 percent larger than units at competing properties. 


Jordan Robbins
Apartment homes feature market-leading interior finishes, including oversized windows, vinyl wood-plank flooring, designer lighting, five-piece bath, custom cabinetry, granite countertops with under mount sinks, walk-in closets, Whirlpool stainless steel appliances, full-size washers and dryers, and large private balconies or patios.

 Additionally, the property contains the only for-rent penthouses in the highly-affluent southeast Denver area.  Penthouses range between 2,375 and 2,779 square feet and contain upgraded amenities, including Electrolux appliances with gas ranges, quartz countertops, hardwood flooring, glass tile backsplash, private garages, floor-to-ceiling windows with stunning views, gas fireplaces and access to the roof-top lounge.

The 5.85-acre community is located adjacent to the Cherry Hills Village neighborhood, one of the most affluent areas in the Rocky Mountain region and the highest demographic location within Denver.

 Kent Place Residences is positioned on the corner of East Hampden Avenue and University Boulevard and is included within a mixed-use development equipped with approximately 34,000 square feet of retail anchored by a King Soopers Fresh Fare grocer.

 Additionally, in addition to prominent medical districts, residents can easily access four of Denver’s premier employment centers, Denver Tech Center, Southeast Business corridor, downtown Denver and Cherry Creek, along with premium retail at Cherry Creek Shopping Center, Streets at Southglenn and South Pearl Street.


Jeff Haag
“Kent Place is one of the most unique multifamily properties in all of Denver, with extremely large units to fit the area’s most prominent demographic,” Robbins said.  “Additionally, Forum Real Estate Group did an outstanding job with ‘over-amenitizing’ the property to genuinely fit the resident profile. This is truly an irreplaceable asset within the 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 | hfflp.com



HFF closes sale of 4-property multi-housing portfolio in Central Pennsylvania

  
 
Greenview Terrace Apartments, Lancaster, PA

Mark Thomson
PHILADELPHIA, PA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of a four-property, value-add multi-housing portfolio totaling 412 units in Lancaster County, Pennsylvania.

HFF marketed the asset on behalf of the seller, Equus Capital Partners, Ltd.  High Real Estate Group purchased the offering free and clear of debt.

The portfolio comprises Greenview Terrace (112 units) and Barrcrest Manor (85 units) in Lancaster; Village Green in Elizabethtown (128 units); and Lebanon Court in Lebanon (87 units). 

The portfolio is centrally located in a prime distribution corridor and offers residents access to all major destinations in Pennsylvania via highways, including Interstate 76 (Pennsylvania Turnpike) and U.S. Routes 322, 422 and 283.

The HFF investment sales team representing the seller was led by senior managing director Mark Thomson and directors Carl Fiebig and Francis Coyne as well as senior managing director Jose Cruz and executive managing director Matthew Lawton.

Carl Fiebig

“While we have always seen a high demand for ‘bread and butter’ value-add garden apartments, there has been a flood of equity into the space this year,” Thomson said.  “With a lack of velocity in the four counties surrounding Philadelphia, many investors have expanded their interest into Central Pennsylvania and Delaware.”

“This portfolio offered a nice diversity of size, ranging from 85 to 128 units, and vintage, with assets from the 1960's, 1970's and 1990's,” Thomson added.  “We conducted 33 tours of this portfolio, which resulted in offers from 15 different companies.”

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


Flix Brewhouse Cinema Eatery Coming to Peoria, AZ



Flix Brewhouse, Lake PLeasant Parkway and Happy Valley Road, Peoria, AZ


 Peoria, AZ -- Flix Brewhouse™, the world’s only combination first-run cinema and dine-in microbrewery, will become the entertainment anchor at the southeast corner of Lake Pleasant Parkway and Happy Valley Road in Peoria, Arizona.

The Peoria location will be Central Texas-based Flix Brewhouse’s second Arizona location. Its first is in the Overstreet development in downtown Chandler, Arizona – part of the cinema-dining chain’saggressive expansion throughout the United States.


Tyson Switzenberg
JLL’s Senior Vice President and Phoenix Retail Brokerage Lead Tyson Switzenberg represented Flix Brewhouse in the lease transaction. The project landlord is Thompson Thrift Retail Group.

“Flix Brewhouse mixes the Valley’s burgeoning craft beer scene with a best-in-class cinema dining experience,” said Switzenberg. “We are incredibly excited to bring this unique concept to Peoria and believe it will compliment Thompson Thrift’s development as a new entertainment anchor for the Northwest Valley.”

The Peoria Flix Brewhouse will total approximately 39,000 square feet and feature nine (9) auditoriums equipped with parabolic screens, state-of-the-industry digital audio and video (including immersive sound), extra-wide plush seating, and an innovative gliding tabletop console.

 Viewers will enjoy unobtrusive, in-theater service from a complete cooked-to-order menu that will be tailored to local tastes, as well as a broad selection of soft drinks and adult  beverages, including a dozen signature beers brewed on premises.

In addition to showing the latest Hollywood blockbusters, Flix Brewhouse offers a wide variety of special features and events, including a Pro-Am homebrew competition, Brewmaster dinners, on-site Beer 101 brewing and tasting seminars, and numerous themed classic film series and interactive experiences such as dinner comedies, singalongs, and Saturday morning pajama parties.

Flix also celebrates unique food and craft beer creations with a range of ongoing dining and tasting events, showcasing beer from other craft breweries as well as its own.

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

Stacey Hershauer
focusAZ
Marketing & Public Relations
(480) 600-0195