American Realty Advisors Expands Sales and Investor Relations Team

James Mitchell

LOS ANGELES, CA – American Realty Advisors (“ARA”) has announced the expansion of its sales and investor relations team with the addition of James Mitchell as its new Senior Vice-President/Client Portfolio Manager. Mr. Mitchell will be based in ARA’s Chicago office.

In this role, Mr. Mitchell will be responsible for leading the firm’s sales and client service efforts nationwide for ARA’s Taft-Hartley relationships through the firm’s commingled funds and separate accounts.

Mr. Mitchell brings to ARA nearly 30 years of experience working with jointly-trusteed funds nationwide.  Most recently, he was National Director of Asset Management Relationship Development for BMO Asset Management, focusing on customized asset management, trust and custody, and banking needs of the labor community. 

Prior to joining BMO, Jim worked at Northern Trust as a National Director of the Taft-Hartley Investment Client Solutions Group.  Previously, he also served as Executive Director of the Inter-Local Pension Fund/Graphic Communication Conference of the International Brotherhood of Teamsters, the Automobile Mechanics Local 701 as the Controller, and at Thomas Harvey, LLP. 

Jay Butterfield

Jay Butterfield, ARA’s Executive Managing Director and Head of Business Development, commented, “We are thrilled to have Jimmy join our professional team and to add his considerable skills and experience to continue ARA’s long-standing commitment to serve the Taft-Hartley community. 

"We are dedicated to helping plan sponsors meet their obligations in securing the future for their plan participants and beneficiaries, and Jimmy will be a strong addition to accomplish these goals.”

Mr. Mitchell graduated from Dominican University with a degree in Business Administration and Accounting.  He is a member of the International Foundation of Employee Benefit Plans, Illinois CPA Society, American Institute of Certified Public Accountants, and Purple Hearts Foundation.

More information regarding ARA can be found at www.aracapital.com.

Miki Akil / Lexi Astfalk for American Realty Advisors

Brower, Miller & Cole

(949) 955-7940,

 makil@browermillercole.com

Emerson International Completes Leases for 41,838 Square Feet at its Office Developments in Central Florida

Katherine Zelman

ALTAMONTE SPRINGS, FL -- Emerson International who owns and manages office developments in metro Orlando, recently completed five long-term lease agreements for a total of 41,838 rentable square feet at Sanlando I and II, Center Pointe II, Maitland Center and Louisiana Office Park. 

Zac Starkey

In Maitland, at 2600 Maitland Center, Emerson Broker Associate Zac Starkey negotiated the largest lease agreement signed by KBHS for 15,888 square feet of office space.   Jason Schrago of Newmark Knight Frank represented the tenant, a mortgage lender.

Starkey negotiated the lease of 11,844 square feet in the Sanlando I office building, 2170 W. State Road 434 in Longwood.  The tenant Davila Law Group was represented by Bill Miller and Joseph Stayanoff.

Kenneth Koch, Director of Leasing for Emerson brokered a lease for 9,779 square feet at Sanlando Center II.  Market research firm Opinion Access is the tenant.

Koch also negotiated a lease at Emerson’s Centerpointe II, 220 E. Central Parkway in Altamonte Springs with Voyager Retirement Solutions who signed a lease for 2,749 square feet.  The financial advisory firm was represented by Nicholas Fouraker of 4Acre Commercial.

At Louisiana Office Park, 1177 Louisiana Ave. in Winter Park, Starkey negotiated two lease agreements: one for 1,716 square feet with Axia Home Loans who was represented by Katherine Zelman of Cite Partners; and another lease for 862 square feet with Shopcore, a commercial property firm represented in the transaction by Drew Forness of Forness Properties.

Emerson International is a wholly owned subsidiary of The Emerson Group, the global corporation that is one of the largest privately-owned property development companies. 

For more information on this news release, please contact:

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

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Rare opportunity to Acquire sprawling Hunter’s Ridge Development in Ormond Beach, FL for $30 Million

Roger Soderstrom

Ormond Beach, FL --- The developer who worked several years to bring the Hunter’s Ridge project in Ormond Beach into wide-ranging DRI compliance, including deeding 1,978 acres to Flagler County for a regional park earlier this year, has announced that the entire development is for sale in bulk for $30 million.

 Hunter’s Ridge recently received approval to establish a CDD (Community Development District) which will allow the new owner to sell bonds for future infrastructure development.

Developer Allan Feker of U.S. Capital Alliance said the prominently located project – three miles west of I-95 on Granada Blvd (SR 40) – has all major infrastructure in place and is ready for immediate development. 

“The regional park land deeded to Flagler County for conservation will have traditional park facilities and hiking, biking and equestrian trails, an important amenity and buffer to the west of the Hunter’s Ridge residents,” he said.

John Kurtz and Roger Soderstrom, Jr., commercial investment specialists for Premier Sotheby’s International Realty who are representing the property, said they have launched their marketing campaign for the 1,450 remaining acres of Hunter’s Ridge which is approved for over 1,800 residences and 600,000 square feet of retail and commercial space. 

Straddling the Flagler-Volusia county line, the Hunter’s Ridge property includes approximately 1,000 finished homes with an established, active homeowners association.  

More than 1,800 more homes are to be built by homebuilders, many who have submitted letters of intent to purchase sites.  The community offers a variety of residence types from attached villas to estate homes priced from the low $200s to nearly $1 million.

  

John Kurtz

“There is a huge amount of development taking place along the I-95 corridor north of Daytona Beach,” Kurtz said. “In particular, Hunter’s Ridge is directly north across SR 40 from the widely lauded 6,900-home Margaritaville active adult community.”

 Included in the $30,000,000 Hunter’s Ridge bulk sale is a $5,000,000 town center with grocery and drug stores, bank, shops, restaurants, assisted living, medical and professional offices planned.  

The concept also includes multiple walking trails between amenities, neighborhoods, town center and the regional park.  It’s all just a short distance to the major retailers, restaurants and entertainment of Ormond Beach, Daytona’s International Speedway Blvd. and the world’s most famous beach. 

“This adds tremendous value to not only one’s lifestyle and home at Hunter’s Ridge but to the new owner/developer of this master planned community which will soon be one of the area’s most sought after places to live, work and play,” Soderstrom said.

For more information on this news release, please contact:

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

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Western National Group Begins Construction on New 206-Unit Luxury Multifamily Community in Orange County, CA

Patrick Simons

BREA, CA – Western National Group, in partnership with Anchor Real Estate Capital and Fantasia Holding Group, has announced the start of construction of a new, 206-unit luxury multifamily development in Brea, California to be named “Calligraphy,” according to Patrick Simons, Managing Director of Western National Group.

“Brea is a dynamic and vibrant city, with one of the largest public art collections in the nation,” says Simons. “We have intentionally tapped into that community benefit with the project’s name, which evokes a sense of artistic flair, and with the integration of art sculptures into public spaces adjacent to this new multifamily development.  

"In so doing, we are supporting the local community, while also enriching the resident experience.”

Western National Group is the largest operator of apartments in the City of Brea, and Calligraphy will be its eleventh property in the city.

“Brea is one of the most desirable places to live in North Orange County,” remarks Simons. “The City’s abundance of dining, entertainment, and shopping options, award-winning schools, and high quality of life continue to attract residents and businesses to this thriving community. 

"Conveniently located near major transit and job corridors, Brea also offers close proximity to transportation routes and employment centers across Orange County, Los Angeles, and the Inland Empire, making it the perfect location for a new multifamily development of this nature.”

For more information on this news release, please contact:

Lauren Burgos / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

lburgos@browermillercole.com

www.anchorrecapital.com

www.cnfantasia.com

www.wng.com.

JLL Phoenix Property Management Team Expands with New Assignments; New Hire

Stacey Prentice

PHOENIX, AZ, Sept. 6, 2017 – The JLL Phoenix Corporate Solutions Group is in expansion mode, earning 1.2 million square feet of new leasing assignments and prompting the addition of industry veteran Stacey Prentice as Retail Property Manager in charge of retail properties.

“Commercial real estate buyers are definitely back in Phoenix, looking for assets that they can acquire and stabilize,” said Jackie Hines, Vice President, Group Manager for JLL in Phoenix. “This has generated tremendous opportunity for our property management team, from clients associated with JLL brokers to properties owned or leased by other entities.”

On the office and industrial front, JLL has earned almost 944,000 square feet of new assignments, including ASU Macro Technology Works, a 274,000-square-foot specialized testing facility that operates 24/7 and requires a dedicated team of engineers. JLL was named the exclusive property manager on behalf of the Arizona Board of Regents and Arizona State University.

Jackie Hines

Other new assignments within these sectors include:

• Corporate Parkway North: A 226,364-square-foot Class A office building at 16404 N. Black Canyon Hwy. in Phoenix. The project is home to PayChex, CSAA Insurance and Revana/Teletech Services.

• San Tan Corporate Center I and II: Totaling 267,714 square feet in two Class A buildings in Chandler; 100 percent leased to corporate tenants including Toyota.

• 5090 N. 40th St.: 175,835 square feet of Class A office space in Phoenix’s prestigious Camelback Corridor, with anchor tenants including Bar S, Kudelski Security and Beyond Trust.

JLL has also been named the exclusive property manager for four Class A retail projects. These are:

• Kierland Village: 115,567 square feet in Scottsdale, at 64th Street and Greenway Parkway, home to 22 tenants including Safeway.

• Silverstone Marketplace: 78,094 square feet in Scottsdale, at Scottsdale Road and Pinnacle Peak, home to 19 tenants including Sprouts.

 • Tatum Ranch Crossings: 94,179 square feet in Cave Creek, at Tatum Boulevard and Cave Creek, occupied by 12 tenants including Safeway.

• Phoenix Metro: 49,303 square feet in Phoenix, at N. Metro Center Parkway West, occupied by two tenants including anchor Fitness International.

The recent retail assignments prompted the addition of industry veteran Stacey Prentice, hired by JLL as a Retail Property Manager for open air retail properties.

 In her role, Prentice directly manages multiple Class A retail centers located in Phoenix and Scottsdale. She joins an 18-person JLL Phoenix property management team overseeing office, industrial, retail and mixed-use assignments across the metro market.

Combined, JLL’s Phoenix property management and facilities management team totals 364 Valley employees directing a local portfolio of 24 million square feet.

“Demand for management services is strong across the board – particularly for companies like JLL who offer industry experts like Stacey and vertical services like brokerage and construction management that help meet the unique needs that go along with a building investment,” said Hines.

Prentice contributes decades of property management experience, including medical office space and industrial/flex properties, with the last seven years dedicated to managing real estate owned (REO) portfolios. She holds a current Arizona Real Estate License.

For more information on this news release, please contact:

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

www.jll.com

or

www.jll.com/phoenix

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HFF secures $36.3 million financing for 292-unit multi-housing community in downtown Phoenix, AZ

Capital Place Apartments, Downtown Phoenix, AZ

Elliott Throne

PHOENIX, AZ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $36.3 million in financing for Capital Place, a 292-unit, Class A multi-housing community in downtown Phoenix, Arizona.

HFF worked exclusively on behalf of the borrower, Epoch Residential, to place the three-year, floating-rate loan with a life company lender.

Capital Place is located on the eastern edge of downtown Phoenix near attractions such as the Phoenix Convention Center, Chase Field, Talking Stick Resort Arena, Phoenix Biomedical Campus and Arizona State University’s downtown campus. 

The transit-oriented, mid-rise community is also adjacent to the Phoenix Valley Metro light rail, which connects downtown Phoenix to Tempe, Mesa and the Phoenix Sky Harbor International Airport.

 Completed in 2016, Capital Place has 292 units averaging 827 square feet with high-end amenities, including stainless steel appliances, custom kitchen cabinets, granite countertops, faux wood flooring and covered balconies.

 The community also features a resort-style pool with spa, barbecue grills and private cabanas; state-of-the-art fitness center; clubhouse; business center; game and media room; controlled access and garages.

Brad Miner

The HFF debt placement team representing the borrower was led by managing director Elliott Throne and senior director Brad Miner.

“Downtown Phoenix continues to attract capital from developers and lenders alike,” Miner said. “The property’s location on the light rail along with positive leasing momentum, institutional quality of the asset and strong sponsorship resulted in significant interest from various debt providers.”

For more information on this 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

$75.25 million sale of Gateway Park Apartments in Denver, CO closed by HFF

 

Gateway Park Apartments, Denver, CO              Photo by Jim Johnson

DENVER, CO  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $75.25 million sale of Gateway Park Apartments, a 328-unit, Class A garden-style multi-housing community located in Denver, Colorado.

HFF marketed the asset on behalf of the seller, a joint venture between Denver-based Griffis Residential and PCCP, LLC.  Jackson Square Properties purchased the asset free and clear of existing financing.

Anna Stevens

Gateway Park Apartments consists of 22 two-story buildings,which house one-, two- and three-bedroom units averaging 896 square feet.  The property is situated on 20.98 acres at 4255 Kittredge Street near Interstate 70 and Pena Boulevard in northeast Denver placing it within a short distance to several of Denver’s employment centers, including Denver International Airport and the Fitzsimons Medical Campus. 

Jordan Robbins

Community amenities include two swimming pools with sundecks and all-season spas; outdoor dining area with gas grills; private lake with fishing and beach; walking and jogging path along the adjacent nature preserve; state-of-the-art fitness center, clubhouse with fireplace and kitchenette; business center; and community recycling program.  The property was 98 percent leased at closing.

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

“Gateway Park is a high-quality asset located in one of the Denver metro’s strongest rent-growth submarkets,” Robbins said.  “We received a lot of interest in the property due to its value-add nature and supply constrained location.”

For more information on this 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

www.pccpllc.com.

www.GriffisResidential.com.

HFF closes sale of 3-building industrial warehouse portfolio in Houston, TX

Claymoore Park Industrial Properties, Houston, TX

Trent Agnew

HOUSTON, TX – – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of two assets comprising three infill, industrial warehouse buildings totaling 101,635 square feet in two Houston submarkets.

HFF represented the seller, TA Realty.  ATCAP Partners purchased the property for an undisclosed price.

The properties consist of 3300 Claymoore Park, which is situated on 2.25 acres in the heart of Houston’s Northwest industrial submarket, and 9362 and 9366 Wallisville Road, which is housed on 4.05 acres in the Northeast industrial submarket and has access to the Houston Ship Channel and the Port of Houston.

 Both properties are in infill locations with access to Interstate 10, Highway 290, Sam Houston Tollway (Beltway 8) and Loop 610.  The buildings are 100 percent leased to eight tenants.  Additionally, the Claymoore building is HazMat capable.

HFF’s investment sales team was led by senior director Trent Agnew and senior managing director Rusty Tamlyn.

“There is very little industrial product for sale in Houston, and the fundamentals are exceptionally strong in the two submarkets where these properties are located,” Agnew said.  “We have worked with ATCAP before, and they were a good fit for these two assets, given their ownership of other similar assets here and ability to move quickly.”

For more information on this 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.atcap.com

http://www.tarealty.com.

Miramar Park of Commerce Announces 129,000 SF in Lease Transactions

  

Barbara Liberatore Black

MIRAMAR, FL  (Sept. 6, 2017) – Lease transactions totaling 129,314 sq. ft. of space were recently completed at the Miramar Park of Commerce, the largest locally owned and managed business park in South Florida.

Maridee Bell and Lauren Pace of Sunbeam Properties & Development represented the Park in all of the transactions unless otherwise noted.

New Leases

JJA Aviation, LLC leased 8,917 sq. ft. of space at 2853 N. Commerce Parkway. An FAA and EASA approved repair station, JJA Aviation specializes in the repair and overhaul of aircraft instruments, accessories and radio components for corporate business aircrafts, military aircrafts, helicopters and commercial, regional and cargo airlines. In addition to Bell and Pace, Sunbeam was represented by Carlos Velasquez of Vivo Real Estate in the transaction.

Lease Renewals

Essig Pools, Inc. leased 15,011 sq. ft. of space at 10111 Business Drive. Essig Pools is a custom in-ground pool contractor that offers solutions for residential and commercial swimming pools and outdoor kitchens. The space features an indoor pool display, five full outdoor kitchen displays, and a large selection of outdoor flooring and adjustable roof pergolas.

Sunshine Avionics, LLC renewed its lease for 12,027 sq. ft. of space at 9974 Premier Parkway. A HEICO Avionics company, Sunshine Avionics is a leading provider of the highest quality MRO services for advanced avionic component repairs.

Lauren Pace

NAGLREITER™ Medical Device Development Organization (NMDDO) renewed its lease for 10,260 sq. ft. of space at 3451 Commerce Parkway. NMDDO is a trusted partner for concept incubation, design, development and manufacturing within the Medtech industry. NMDDO provides its clients with “Predictable Project Execution,” which drives value by mitigating risks early, accelerating project execution, and minimizing upfront overhead and backend transfer costs.

Represented by Barbara Liberatore Black of JLL, Toyota Motor Sales, U.S.A. renewed its lease for 9,985 sq. ft. of space at 10713 Marks Way. The Miramar location serves as a service training facility for the automotive company.

The Print Factory d/b/a NexPub renewed its lease for 9,746 sq. ft. of office and warehouse space at 3820 Executive Way.

Lease Extensions

Audley Bosch and Juan Rodriguez of JLL represented One Home Medical Equipment in multiple transactions at the Park. One Home Medical Equipment:

·     extended its lease for 30,720 sq. ft. of space at 3350 Executive Way;

·     added 14,617 sq. ft. of space at 3301 Executive Way to occupy a total of 29,539 sq. ft.;

·     and extended its lease for 9,292 sq. ft. of space at 3010 Corporate Way.

Maridee Bell

 One Home Medical Equipment is the medical equipment supply and service company for One Homecare Solutions, an integrated post-acute care provider. One Home Medical Equipment provides One Homecare Solution’s patient network with medical equipment ranging from soft goods to respiratory supplies and offers in-home setup and comprehensive training to patients and their caregivers.

 DMS Aircraft Services, Inc. extended its lease and expanded to occupy 8,739 sq. ft. of space at 3837 Commerce Parkway. The space houses offices and a warehouse for the distribution of aviation parts.

For more information on available space, please contact Lauren Pace (lpace@wsvn.com) or Maridee Bell (mbell@wsvn.com) at 10212 USA Today Way, Miramar, FL 33025 or call 954-450-7900.

For more information on this news release, please contact:

Lexi Robinson

954-776-1999, ext. 255

lrobinson@piersongrant.com

HFF closes sale of and secures $10.65 million financing for Kroger-anchored retail center near Columbia, South Carolina

 

Irmo Station Retail Center, Irmo, SC

Ted Hill

CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and secured $10.65 million in acquisition financing for Irmo Station, a 99,384-square-foot, Kroger-anchored, dominant neighborhood retail center in the Columbia-area community of Irmo, South Carolina.

HFF marketed the property for the seller, Retail Properties of America, Inc. (RPAI).  New Market Properties, LLC, a wholly-owned indirect subsidiary of Preferred Apartment Communities, Inc. (NYSE: APTS), purchased the asset free and clear of existing debt. 

Additionally, working on behalf of the new owner, HFF placed the 13-year, fixed-rate, 3.94-percent, non-recourse loan with Nationwide Life Insurance Company.

Located at 7467 St. Andrews Road in Irmo, Irmo Station is situated northwest of Columbia in an infill location on the “going home” side of the road in the main retail node of the Columbia MSA, which is the largest city in South Carolina. 

The center is located one mile off Interstate 26, the main highway connecting Greenville to Charleston through Columbia.  More than 42,000 residents earning an average annual household income of $82,000 live within three miles of the center.

Mike Allison

In addition to Kroger, the 92-percent-leased Irmo Station is home to Pet Supplies Plus, Super Cuts, Firehouse Subs, Kroger Fuel, Pizza Hut, Kobe Express, Palm Beach Tan and more.

The HFF investment sales team representing the seller was led by director Thomas Kolarczyk, senior managing director Richard Reid, senior associate Ted Hill and associate Mike Allison.

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

“Irmo Station represented a rare opportunity to acquire a high-performing, Kroger-anchored shopping center with limited grocer competition and value-add potential,” Kolarczyk said. “Well-located grocery-anchored real estate with strong fundamentals continues to garner significant investor interest and a yield premium.”

 For more information on this 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

www.pacapts.com.

www.rpai.com.

www.newmarketprop.com.

HFF arranges $171 million financing for 13-property multi-state retail portfolio

 

Kevin Mackenzie

 NEWPORT BEACH, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced that, on behalf of Westwood Financial, it has arranged $171 million in first lien financing for a portfolio comprising 13 multi-tenant retail centers totaling 1,050,350 million square feet in Arizona, California, Florida, Georgia, Illinois, North Carolina and Texas markets.

HFF worked on behalf of the borrower, Westwood Financial, to place two separate portfolio loans, a $94 million fixed rate-rate portfolio loan with Nationwide Life Insurance Company used for re-financing and new acquisitions and a $77 million fixed-rate portfolio loan with a correspondent life insurance company to re-finance existing debt.

 In September 2016, Westwood Financial completed a $1.2 billion consolidation and reorganization, and these portfolio loans help further the strategic initiatives of the roll up to achieve the best debt executions and generate capital for growth.

The $94 million loan portfolio comprises seven multi-tenant retail shopping centers, including five- grocery-anchored centers and two shadow grocery-anchored centers. 

Jamie Kline

The properties are:  the 77,043 square-foot Camelback Village anchored by AJ’s Fine Foods in Phoenix, Arizona; the 116,707-square-foot Elk Crossing anchored by Jewel-Osco in Elk Grove (Chicago), Illinois; the 97,229-square-foot Atascocita Center anchored by Kroger in Humble (Houston), Texas;

Also, the 101,791-square-foot Market at Lake Houston anchored by H-E-B in Atascocita (Houston), Texas; the 87,632-square-foot Lynwood Collection anchored by Kroger in Raleigh, North Carolina; the 55,323-square-foot, Trader Joe’s-anchored Arbors at Mallard Creek in Charlotte, North Carolina; and the 47,518-square-foot Village at Preston Hollow shadow anchored by Central Market in Dallas, Texas.

The $77 million loan portfolio comprises six assets, including four grocery-anchored centers: the 89,506-square-foot Mercado del Rancho anchored by Sprouts Farmers Market in Scottsdale, Arizona; the 85,516-square-foot Shops at San Marco anchored by Sprouts in Del Ray Beach, Florida; the 92,120-square-foot Evans Crossing anchored by Kroger in Evans (Augusta), Georgia; and the 101,610-square-foot Haynes Bridge Village anchored by Publix in Alpharetta (Atlanta), Georgia.  

Jeremy Womack

Additionally, two California centers have Ralph’s grocery shadow anchors, the 68,055-square-foot Mercado del Lago in Rancho Santa Margarita (Orange County) and the 30,300-square-foot Magnolia Vineland in North Hollywood.

The HFF debt placement team representing the borrower consisted of senior managing director Kevin MacKenzie and director Jamie Kline on a national basis along with senior managing director Jeremy Womack (Phoenix); managing director Gregg Shapiro (Atlanta); senior directors Jason Bond (Chicago), Jim Curtin (Dallas) and Nat Scarmazzi (Miami); and directors Cory Fowler (Charlotte) and Matthew Putterman (Houston).

“Closing two more highly flexible portfolio loans with major life insurance companies is another significant milestone for Westwood Financial,” said Kevin MacKenzie, senior managing director and co-head of the West Coast Region.  

“They continue to build an excellent relationship with these lenders, amongst others, progressing in their goal of strategic growth, building out their portfolio with high-quality assets and getting the most optimal capital structure in place.”

For more information on this 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

Bull Realty Arranges $5.3 Million Land Sale in Atlanta, GA

Andy Lundsberg

ATLANTA, GA (Sept. 5, 2017) —Bull Realty arranged the sale of a 1-acre tract of land in Atlanta, GA. The sale closed on August 18 for $5,300,000.

Bull Realty’s Andy Lundsberg and Gene Kansas of Gene Kansas Developments, LLC worked together to represent the seller, Steve Nygren of PP, LLC. Nygren is the master developer of Serenbe.

The property, 489-495 Peachtree Street & 496 Courtland Street, located in between Midtown and Downtown across from Emory University Hospital, is a buy and hold for a future redevelopment.

The buyer was SoNo on Peachtree, LLC. The name “SoNo,” short for South of North Avenue, refers to the area where the property is located, and is part of an initiative by Central Atlanta Progress.

The impetus for the sale was the closing of the Peachtree Pine homeless shelter located next door at the corner of Peachtree and Pine, said Lundsberg. With the closing of the shelter, Curbed said Atlanta developers are salivating over parcels in the nearby vicinity.

The site is considered a prime redevelopment opportunity with 6 parcels and 3 buildings totaling 49,000 SF, which are currently 60% occupied. Ocean Catering Company has occupied space since 2011, according to CoStar. Other tenants include The City Café and Bar, Peachtree Barber Shop. In addition, parking on the Courtland Street side is used for the nearby Shakespeare Tavern Playhouse.

For more information contact Bull Realty at 404-876-1640 or Info@BullRealty.com

  

Melissa Henry

Communications Manager

Bull Realty, Inc. 

404-876-1640 x 110

www.BullRealty.com

www.CREshow.com

www.ATLCREshow.com

HFF closes sale of anchored shopping center in Atlanta MSA

North Lake Square shopping Center, 1146 Dawsonville Highway,  Gainesville, GA

ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of North Lake Square, a 140,000-square-foot new retail center in Gainesville, Georgia, a northern Atlanta suburb.

HFF marketed the property for the seller, GH Anderson & Co.  VEREIT, Inc., acquired the asset on behalf of Cole Real Estate Income Strategy (Daily NAV), Inc.

Jim Hamilton

Located at 1146 Dawsonville Highway in Gainesville, North Lake Square is a recently constructed power center adjacent to Lake Lanier, one of Atlanta’s top recreational centers attracting more than 7.5 million tourists a year. 

The property benefits from strong fundamentals, including high traffic counts exceeding 54,000 vehicles per day; a regional retail destination serving an extended trade area up to 30 miles; weighted average lease term of more than 10 years and the drawing power of multiple anchor tenants such as Burlington, Hobby Lobby, Five Below and HomeGoods.

The HFF investment sales team representing the seller was led by senior managing directors Jim Hamilton and Richard Reid and associate Brad Buchanan.

“North Lake Square represented the opportunity to acquire a recently built retail center with a dominant tenant line-up on the periphery of Lake Lanier, one of the Southeast’s most notable tourist attractions with over 7.5 million annual visitors,” Hamilton said.

For more information on this 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 high-rise multi-housing property in Wilmington, DE

Mark Thomson

PHILADELPHIA, PA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of 1303 Delaware Apartment Homes (“1303 Delaware”), a 231-unit, high-rise multi-housing property in the Trolley Square neighborhood of Wilmington, Delaware.

HFF marketed the asset on behalf of the seller, Merion Realty Partners.  Capano Residential purchased the offering free and clear of debt.  Additionally, HFF worked on behalf of the new owner to secure a fixed-rate Fannie Mae acquisition loan.

1303 Delaware consists of studio, one-, two- and three-bedroom apartment homes averaging 928 square feet offering panoramic views of historic Trolley Square, which is one of Wilmington’s most sought-after neighborhoods. 

The property benefits from walkability to a variety of amenities in the surrounding area as well as accessibility to major roadways throughout the highly trafficked Delaware Avenue corridor, including Interstate 95 (0.25 miles) and Route 202 (1.5 miles). 

1303 Delaware is also less than two miles from the Wilmington Amtrak station, offering rail transportation throughout Philadelphia and the Northeast.  Community amenities include a fitness center, business center and garage parking.

Carl Fiebig

The HFF investment sales team representing the seller was led by senior managing director Mark Thomson and directors Carl Fiebig and Francis Coyne.

HFF’s debt placement team was led by managing director James Conley.

“This was a great opportunity for investors to acquire a property in one of the best locations in the state with a proven value-add component,” Thomson said.  “The sellers recently renovated 84 of the 231 units and invested more than $2 million in building systems improvements. 

“The capital spent on building improvements provides the new buyer a great opportunity to focus on updating the remaining 141 unrenovated units, which still have original kitchens and bathrooms.”

 “All of these factors combined to create significant interest in the property,” Fiebig added.  “Many of the groups attracted to this offering were looking to acquire in Delaware for the first time and were drawn to the strength of the submarket, property and proven value-add story.”

 For more information on this 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

Real Estate Capital Institute Finds Inflation at Lowest Point in Past Two Years

John Oharenko

Chicago, IL – The Real Estate Capital Institute notes Hurricane Harvey, along with North Korea's missile adventures, prevent the Fed from instituting any rate hikes soon. As expected, borrowers gain significant advantages by capturing low-priced debt due to such market conditions.

The Real Estate Capital Institute's Director, John Oharenko, advises, "Even as short-term rates remain very attractive, the pricing gap compared to

long-term rates is very tight." He adds, "It clearly makes sense to explore long-term debt, but with favorable prepayment privileges -- the best of both

worlds."

 Other notable observations by RECI include:

Low Inflation: Despite threats of rising rates, key economic indicators show that inflation is at its lowest point of the past two years. Last month the

benchmark 10-year treasury bounced about 20 basis points, landing to the lowest levels seen under the current administration.

Short-Term Pricing Indices: LIBOR reform takes the spotlight as far as

benchmark pricing indices. British regulators announced the planned removal

of the LIBOR Index by 2021. Banks, agencies, insurance companies and other

financial institutions have relied upon this index for decades. That said,

few lenders are concerned since numerous indices emerge as probable

replacements, including the Broad Treasury Repo Financing Rate (BTFR) and

the Bank Prime Rate. The more laborious issue focuses on financial

institutions to modify documentation that corresponds to the new indices.

New Construction: Many funding sources are flush with cash for making construction loans. However, looming concerns about certain sectors of the

commercial real estate market facing overbuilding [mainly multifamily], demand that banks and other construction lenders tighten underwriting

standards -- or even retrench from such opportunities. Yet the overall state of supply-and-demand is reasonably balanced.  

Retail and office sectors are limited to build-to-suit/preleased properties, while industrial development remains healthy, including spec deals. Now more than ever, new construction

opportunities are funded on a very selective basis, generally based upon lower loan-to-cost ratios of 65% or less.

The Real Estate Capital Institute(r) is a volunteer-based research organization that tracks realty rates data for debt and equity yields.  The Institute posts daily and historical benchmark rates including treasuries, bank prime and LIBOR.  

For more information on this news release, please contact:

The   Real Estate Capital Institute(r)

3517 West Arthington Street

Chicago, Illinois USA 60624

 Jeanne Peck, Executive Director

director@reci.com

www.reci.com