Happy Home Communities Acquires a 201-Space Mobile Home Park Portfolio for $6.9 Million in Foley, AL

 

Ellie Davis

 Los Angeles, CA - Happy Home Communities (HHC), the mobile home park and RV park investment arm of Gelt Inc., a Los Angeles-based multifamily real estate investment and asset management firm, has acquired a 201-space mobile home park portfolio in Foley, AL, a city in Baldwin County. HHC acquired the two-property 90 percent occupied portfolio from a private seller for $6.9 million.

"This portfolio offered HHC the opportunity to own and manage two well-maintained communities that are close to local beaches, major tourist destinations and employment centers," said Ellie Davis, director of acquisitions and asset management for Happy Homes Communities.

"Additionally, Baldwin County is one of the fastest-growing regions in the nation. We see this growth as a factor for long-term appreciation and plan to add additional immediate value by infilling vacant sites as well as making enhancements to the properties over the next couple of years."

Davis added that HHC is seeking to acquire additional mobile home park assets in the greater Gulf area.

Foley is located in Baldwin County, Alabama, which is experiencing a rapidly growing population and offers 60 miles of beach frontage along the Gulf of Mexico.

For more information on this press release, please contact:

Darcie Giacchetto

D.G. Communications, Inc.

949.278.6224

WoodSpring Hotels Grows Denver-Area Presence with WoodSpring Suites Denver Centennial

Ron Burgett

  Charlotte, NC - WoodSpring Hotels, the nation’s fastest growing extended-stay hotel company, announced the grand opening of WoodSpring Suites Denver Centennial.

 The hotel, owned by Pure Strike Development, LP, and WS Centennial LLC, will be operated by Overland Park, Kansas-based Hotel Management & Consulting, LLC (HMC). The hotel is located at 13253 E. Briarwood Avenue, Centennial, Colo., 80112-6853.

“We continue to seek strategic and ambitious partners such as Pure Strike Development as we continuously grow the WoodSpring brand nationwide,” said Ron Burgett, executive vice president of franchise development and operations for WoodSpring Hotels LLC.

“The greater Denver area is experiencing some of the highest demand the city has seen in years from both business and leisure travelers, and we are ready to serve these guests with our clean, comfortable, well-appointed rooms and simple, straight-forward business model.”  

For more information on this press release, please contact:

CHRIS DALY

PRESIDENT

DALY GRAY PUBLIC RELATIONS, INC.

620 Herndon Parkway, Suite 115 | Herndon, VA 20170

Main: 703-435-6293

Mobile: 703-864-5553

chris@dalygray.com

www.dalygray.com

First and Fresh Grocery Store to Open at Westside Plaza in West Orlando, FL

                                                                                    

Jackie Pace

Orlando, FL  – NAI Realvest Charles Wayne Commercial recently negotiated a new long-term lease agreement for First and Fresh, a grocer who will occupy 1,560 square feet at Westside Plaza located at 6218 W. Colonial Drive in West Orlando.

Retail Specialist Jackie Pace represented the landlord at Westside Plaza, the 6th Florida location for Tampa-based First and Fresh providing nutritious food products to WIC (women, infants and children) customers who participate in the federally funded nutrition program. 

Dave Van Wormer of Van Wormer Realty represented the new tenant who will join Pep Boys, Career Source Central Florida and Florida Dept. of Children and Families among others at Westside Plaza which is currently  96 percent leased.

For more information on this press release, please contact:

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

  

HFF announces $205M financing of The District Burlington, the Inner suburbs most walkable and amenitized mixed-use environment

 

Fred Wittmann

  BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $205 million financing of The District Burlington, a first-class mixed-use park comprising over one million square feet of office and retail buildings in Burlington, Massachusetts.

The HFF team worked on behalf of the borrower, affiliates of Charles River Realty Investors, National Development and AEW Capital Management, to secure the seven-year, fixed-rate permanent loan through a major institutional life insurance company.

The District Burlington is located adjacent to Route 128/Interstate 95 and the Burlington Mall, only 15 miles northwest of Boston.  

The property was repositioned and rebranded through the complete redesign of the park infrastructure and the development of a 30,000-square-foot retail cluster anchored by Island Creek Oyster Bar, Tuscan Kitchen and Market, and TD Bank.

Improvements to the park also include the addition of a 350-space parking garage, the repositioning and expansion of Building 700, and the creation of a first-rate walkable amenity package including a new Residence Inn by Marriott, an 8,000-square-foot fitness center, and OMMMSpace that houses yoga and meditation classes. 

Robyn King

Enhanced connectivity is provided through a Zagster Bike Share Program, walking trails and a private shuttle to and from the Alewife MBTA station in Cambridge.

 The District Burlington is 85 percent leased to a diversified roster of more than 40 regional, national and global tenants, including BAE Systems, Black Duck Software, Charles River Development (no affiliation with Charles River Realty Investors) and Decision Resources.

Greg LaBine

The HFF debt placement team representing the borrower included senior managing director Fred Wittmann, managing director Greg LaBine and senior associate Robyn King.

“The borrower did a fantastic job repositioning the asset to become a best-in-class mixed-use park with the best amenity package available in the market,” said LaBine.  “That led to increased tenant demand and higher rents, which when coupled with top institutional sponsorship within the borrower group, made this a compelling opportunity for the lender.”

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.aew.com

www.natdev.com

 or follow @nationaldevelop

.   

Griffin-American Healthcare REIT IV Acquires Connecticut Medical Office Building Portfolio

 

Stefan Oh

 BRIDGEPORT, CO — American Healthcare Investors and Griffin Capital Company, LLC, the co-sponsors of Griffin-American Healthcare REIT IV, Inc., announced the REIT has acquired Fairfield County Medical Office Building Portfolio, comprised of two medical office buildings located in the Bridgeport, Connecticut suburbs of Stratford and Trumbull.

The approximately 80,000-square-foot Fairfield County Medical Office Building Portfolio is currently 94.6 percent leased to 15 tenants with an average remaining lease term of more than seven years.

 The portfolio is anchored by affiliates of Advanced Radiology Consultants, which occupy an aggregate of approximately 29 percent of the leasable space and have recently executed new agreements to extend their leases to 2029.

Both buildings are located in the midst of thriving medical corridors along the “Gold Coast” of southern Connecticut and include tenancy by Northeast Medical Group, Inc. and St. Vincent’s Multispecialty Group, Inc., subsidiaries of Yale New Haven Health and Ascension Health, respectively, which are two of the region’s strongest health systems.

Additionally, the 383-bed Bridgeport Hospital, owned and operated by Yale New Haven Health, is located approximately two miles from the Stratford building. 

“Fairfield County Medical Office Building Portfolio is located in a prosperous region of the country with a significant demand for healthcare services,” said Stefan Oh, executive vice president of acquisitions for American Healthcare Investors and Griffin-American Healthcare REIT IV.

For more information on this press release, please contact

Contact: Damon Elder

Spotlight Marketing Communications

(949) 427-5172 ext. 702

damon@spotlightmarcom.com

Stirling Development Names Gordon L. Cope as Director, Financial Planning and Accounting

Gordon L. Cope

FOOTHILL RANCH, CA - Stirling Development is pleased to announce it has named Gordon L. Cope as Director, Financial Planning and Accounting.

In his new role, Cope will work closely with the executive team on all finance, accounting, treasury, tax, and administrative functions.

 Reporting to Brian Parno, Stirling's COO, he will also be responsible for budgeting, tax planning, and financial review of all of Stirling's overall business activities and active projects including Southern California Logistics Airport (SCLA) project in Victorville, Ocean Ranch Corporate Centre in Oceanside, as well as analysing and forecasting potential new projects.

"Stirling has a long history and stellar reputation for developing some of the region's most recognized master-planned real estate projects," said Cope. "The opportunity to work with and learn from its leadership who made those projects successful was very attractive to me."

"We are thrilled to bring Gordon onto our team. We felt there was a cohesive fit with Stirling's corporate culture of support, collaboration, and creativity," said Dougall Agan, Stirling's President and CEO."

Prior to joining Stirling, Cope served as a tax manager with Haskell & White LLP, a Southern California public accounting firm specializing in real estate. He has also held positions with international public accounting firm KPMG LLP and Goldman Sachs Inc. Cope is a Certified Public Accountant and graduated from the University of Utah earning both a Bachelor of Arts degree and a Master's degree in Accounting.

For more information on this press release, please contact:

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

www.stirlingdevelopment.com

Benchmank Electronics Selects Tempe, AZ for HQ Location

Paul J. Tufano

PHOENIX, October 5, 2017 – After a six-month, extensive site selection process, global design, engineering and manufacturing leader Benchmark Electronics (NYSE: BHE) today announced its new corporate headquarters will be located at Rio 2100, a new 52-acre, Class A office park situated in the heart of Tempe, Arizona. 

The company announced relocation plans to Arizona from Angleton, Texas in April of this year and expects to add approximately 500 new jobs to the greater Phoenix area over the next five years.

Groundbreaking for the new site is expected to begin before the end of the year with an expected completion date in early 2019.  In the interim, Benchmark’s headquarters is at 4141 N. Scottsdale Rd.

The current and new headquarters will house the corporate leadership team and key corporate functions in finance, human resources, legal, marketing, operations, and supply chain. Benchmark’s Internet of Things (IoT) and RF and High-Speed Design Centers of Innovation will also transition to the new location.

“This is an exciting time for our company as we look forward to our new headquarters, which will allow us to grow in a single, cohesive location,” said Paul J. Tufano, president and CEO of Benchmark Electronics. “Rio 2100 is an ideal location to drive organizational alignment and attract and develop top-notch talent, as already evidenced in our strategic partnership with Arizona State University.”

For more information on this press release, please contact:

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

www.focusaz.com

CV Sciences and TorreyCove Capital Partners Relocate Headquarters to Soerrento Mesa Submarket of San Diego, CA

Bernard Huberman

SAN DIEGO, CA – Coinciding with the ongoing growth in the technology, life sciences, and financial sectors throughout Sorrento Mesa, CV Sciences, a biotech company that operates two divisions in pharmaceuticals and consumer products, and TorreyCove Capital Partners, a registered investment advisory firm with more than $20 billion in assets under management, have recently relocated their headquarters to the Sorrento Mesa submarket of San Diego, California.

BLT Enterprises, a multi-faceted real estate investment company, leased a combined total of 32,093 square feet in its Sorrento Mesa assets, according to Bernard Huberman, Founder and President of BLT Enterprises.

“CV Sciences and TorreyCove Capital Partners were looking for high-quality space for their corporate headquarters that would cater to their existing needs while also allowing for future growth,” says Huberman.

“As a long-term owner, all of our properties are strategically positioned with first-in-class amenities, as well as the opportunity to evolve and grow along with our tenants. We essentially want to be our tenants’ ‘last landlord’ and create environments where they can lease from us for the long-term.”

CV Sciences will occupy a total of 24,000 square feet at BLT Enterprises’ Sorrento Tech III asset, a 30,097 square-foot flex R&D and industrial property. 

For more information on this press release, please contact:

Elisabeth Manville / Lexi Astfalk

Brower, Miller & Cole

(949) 955-7940

emanville@browermillercole.com

HFF announces $15M financing for luxury multi-housing building in Medford, MA

Martha Nay

 

Adam Dunn

BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $15 million construction take-out, permanent financing for Sphere, a brand-new, 42-unit luxury multi-housing building in Medford, Massachusetts.

The HFF team worked on behalf of the borrower, Dark Horse Capital Partners, to secure the seven-year, fixed-rate loan through HarborOne Bank. 

Delivered in July 2017, Sphere features 22 one-bedroom units and 20 two-bedroom units with nine different floorplans located at 640 Boston Avenue in Medford on the Somerville/Medford townline.

Situated at the foot of the future Ball Square Green Line station, the transit-oriented asset offers residents a real neighborhood (Ball Square) with stress-free living, nearby bakeries, retro diners, pubs, neighborhood restaurants and small shops.  

Sphere is within five minutes of the community bike path that links the property to nearby neighborhoods, including Davis Square, Porter Square, and Arlington Center, among others.  Additionally, Interstate 93 is a few blocks from the property providing vehicular access to Boston and the surrounding suburbs. 

The HFF debt placement team representing the borrower was led by director Martha Nay, with support from director Adam Dunn and analyst Sam Campbell.

“Sphere is an exceptional product in a highly desirable, transit-oriented location,” Nay said.  “Ball Square is in the midst of a transformation, and Sphere’s success is a testament to what’s to come. Dark Horse and HarborOne performed flawlessly throughout this very successful transaction, and it has been a pleasure working with both parties toward a strong outcome.”

For more information on this press 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

Shelby G. Smith III Joins Berger Commercial Realty as Senior Property Manager

  

Shelby G. Smith III

FORT LAUDERDALE, FL – Shelby G. Smith III recently joined Berger Commercial Realty/CORFAC International as a senior property manager. A designated Real Property Administrator (RPA) and Certified Property Manager (CPM), he brings more than 35 years of commercial real estate management and leasing experience to the team.

Smith previously served as president of the property management division at The Fitzgerald Group, where he was responsible for overseeing a property management portfolio consisting of 18 retail centers, 23 industrial warehouses and 27 office buildings. 

He has represented a diverse array of notable clients including GE Capital, Guardian Bank, MetLife, NationsBank, Travelers Insurance, Highwoods Properties and Southern Farm Bureau Life Insurance.

“I have known Shelby for a number of years,” said Berger Commercial Realty President Lloyd Berger. “He brings a wealth of experience to our team and will be instrumental in meeting our owners’ objectives.”

Smith is a member of the Building Owners and Managers Association (BOMA) and Institute of Real Estate Management (IREM). He served on BOMA’s government affairs committee and helped to mitigate the impacts of legislation affecting property owners in Broward County. He is a native of South Florida and resides in Fort Lauderdale.

For more information on this press release, please contact:

954-776-1999

Pierson Grant Public Relations

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com

Baird & Warner’s Good Will Network Announces Winners of $120,000 in Donations Supporting Chicagoland Communities

 

Jennifer Alter Warden

  

CHICAGO, IL — Baird & Warner, Chicagoland’s largest locally owned independent residential real estate services company, has revealed the five nonprofits that won a share of $120,000 in grants through its charitable arm –– the Good Will Network –– to further their work providing shelter and supporting services to people at risk of homelessness.

This marks a 20 percent increase in the total donations the Good Will Network provided last year.

The winners of this year’s Good Will Network initiative, called “$24K of Solid Good,” were chosen based on a Baird & Warner social media campaign that asked the public to vote during the month of August. Each winning organization received $24,000.

“Baird & Warner has been an advocate of Chicagoland’s communities since we made our first transaction in 1855,” said Jennifer Alter Warden, chief operating officer and executive vice president of Baird & Warner, who leads the Good Will Network’s efforts.

 “Our people are committed to helping those in need from every walk of life, and what these organizations do day-to-day is beyond inspiring. We want to honor their efforts in providing shelter with our contribution, as it represents the core values of the Good Will Network.”

Baird & Warner’s broker associates, loan officers and employees nominated the 10 “$24K of Solid Good” finalists – each of which help serve a variety of community needs with a focus on housing, particularly for women and children. The public then voted and the five organizations with the most votes won. A video featuring the winning organizations receiving their $24,000 can be viewed here.

The winning Chicagoland organizations are:

BEDS Plus Care Inc.

Housing Opportunities for Women (HOW)

Marklund

  

 For more information on this press release, please contact:

Kim Manning, kmanning@taylorjohnson.com (312) 267-4527

Rebecca Boykin, rboykin@taylorjohnson.com, (312) 267-4523

www.BairdWarner.com.

HFF announces $55M financing for 213-unit apartment building in Fairfax, Virginia

Sue Carras

 WASHINGTON, D.C.-– Holliday Fenoglio Fowler, L.P. (HFF) announces $55 million in financing for Modera Fairfax Ridge, a 213-unit, best-in-class apartment building in Fairfax, Virginia.   

The HFF team worked exclusively on behalf of the borrower, a joint venture between Mill Creek Residential Trust LLC and The Olayan Group, to secure the seven-year, floating-rate loan with ING Capital LLC.  Loan proceeds were used to retire the existing construction financing.

Modera Fairfax Ridge is located at 3887 Fairfax Ridge Road just off U.S. Highways 50 and 66, two of Northern Virginia’s main arterial roads traveled by approximately 157,000 vehicles per day. 

The property is near several Fortune 500 companies, The Fair Oaks Mall, Fairfax County Government Center, George Mason University and Inova Fairfax. 

Completed in August 2016, Modera Fairfax Ridge offers a wide range of studio, one- and two-bedroom configurations with luxury features, including kitchen islands, stainless steel appliances, quartz countertops, walk-in closets, in-unit washers and dryers, nine-foot ceilings, private patios or balconies and keyless entry. 

Nicole Brickhouse

Community amenities include a hotel-inspired swimming pool, outdoor fire pit, grilling area, club-quality fitness studio, yoga/Pilates studio, cyber café, gaming and bar area with billiards, business center with conference room and direct-access garage parking.  The property is NAHB Green Building Program-certified and is more than 95 percent leased.

The HFF team representing the borrower included senior managing director Sue Carras, managing director Walter Coker, senior director Brian Crivella and director Nicole Brickhouse.

"HFF is pleased to have been part of such a successful transaction involving such an outstanding sponsor partnership and lender,” Coker said.  “This project represented a great opportunity for the ownership team to take advantage of aggressive financing terms available in today's capital markets for stabilizing multi-housing assets."

 For more information on this press 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

http://www.hfflp.com/

www.olayan.com.

www.MillCreekPlaces.com.

IEC Signals Long-Term Commitment to San Diego with Acquisition of Value-Add $33.95 Million Multifamily Community

IEC Buys 133-Unit Apartment Community in La Mesa, San Diego, CA

 San Diego, CA – Institutional fund manager Interstate Equities Corporation (IEC) has moved into the San Diego market with the $33.95 million acquisition of a 133-unit, value-add multifamily asset in the La Mesa submarket of San Diego.

Marshall Boyd

This acquisition was on behalf of the firm’s IEC Institutional Fund III, L.P., a fully discretionary, $200 million commingled fund targeting value-add multifamily investments throughout coastal California.

“Entering the San Diego market is a natural progression for our firm’s investment platform,” says Marshall Boyd, Co-President and Chief Investment Officer of IEC.

 “We are extremely selective buyers and specialize in strategically acquiring unrenovated or partially renovated assets in coastal infill markets in the Bay Area and top markets in Southern California. 

"Over the years, as our firm has researched San Diego, we came to recognize the San Diego multifamily market is operationally resilient and has many similar characteristics to our best markets. This is why the extension was natural for our firm.”

More information is available at www.interstateequities.com.

For more information on this press release, please contact:

    Lauren Burgos/ Jenn Quader

    Brower, Miller & Cole

    (949) 955-7940

    Lburgos@browermillercole.com

Brian Batchelder Joins Berger Commercial Realty as Vice President of Brokerage

Brian Batchelder

FORT LAUDERDALE, FL – Berger Commercial Realty/CORFAC International recently welcomed Vice President of Brokerage Brian Batchelder to the team. A Florida licensed real estate broker and South Florida native, Batchelder brings more than 17 years of industry experience to the full service commercial real estate firm. 

Brian will be based at the firm’s Palm Beach County office, where he will handle leasing assignments totaling 500,000 square-feet of space.

Batchelder previously served as vice president at Stiles Realty, where he was responsible for multiple leasing and sales assignments totaling nearly one million square-feet of space. 

Some of his notable clients include the State of Florida, Allstate Insurance, Office Depot, Kodak, Nationwide Insurance, UAIG and Holy Cross Hospital. Prior to Stiles, Batchelder facilitated more than $200 million worth of lease and sales transactions at CBRE.

“Brian’s successful track record of representing high-profile landlords as well as local companies is a testament to his extensive market knowledge, industry expertise and adaptability,” said Berger Commercial Realty President Lloyd Berger.

Batchelder is a member of NAIOP South Florida and serves on the board of directors for Holiday Park Little League. He earned his Bachelor of Science degree from Florida Atlantic University and gained proficiency in Spanish at Academia Hispano Americana in San Miguel de Allende, Mexico.

For more information on this press release, please contact:

954-776-1999

Pierson Grant Public Relations

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com

HFF announces the sale of Element Miami International Airport hotel

Alexandra Lalos

MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of the Element Miami International Airport, a 209-room, extended-stay hotel near Miami International Airport in Miami, Florida.

The HFF team marketed the property on behalf of the seller, Norwich Partners.  Peachtree Hotel Group purchased the hotel unencumbered of an existing management contract.  Peachtree will also manage the hotel.

Denny Meikleham

Completed in 2012, the five-story Element Miami International Airport hotel features fully-equipped suites with kitchens, workspaces, connectivity panels and complimentary internet.

 The hotel contains multiple food and beverage options, including The Salon at Element full-service bar and restaurant, Rise breakfast bar, Relax evening reception and the Restore gourmet pantry for preparing meals in suite; a state-of-the-art fitness center; resort-style pool; business center; and fire pit and outdoor courtyard area overlooking Palmer Lake. 

Like all Element hotels, the Element Miami International Airport operates under sustainable and green practices.  Situated on 5.18 acres at 3525 NW 25th Street, the hotel is less than two miles from Miami International Airport, which serviced 44.6 million passengers in 2016, and half a mile from Miami Intermodal Center transportation hub.

 Additionally, the Element Miami International Airport hotel is six miles from downtown Miami and approximately five miles from multiple retail destinations, including Merrick Park, Miami International Mall and the Dolphin Mall.

The HFF investment sales team representing the seller included director Alexandra Lalos, managing director Denny Meikleham and senior director Alan Suzuki.

Alan Suzuki

“With one of the top international airports in the United States and all-time record visitation, Miami continues to be one of the best hotel markets in the country,” Lalos said.  “As new demand drivers and infrastructure deliver and demand returns from the Miami Beach Convention Center, which is only 11 miles from the property, the Miami hospitality market will be the beneficiary.”

“A best-in-class seller and buyer cooperated to complete the first hotel sale transaction in the Miami Airport/Civic Center submarket in 2017,” Meikleham added.

For more information on this press 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://peachtreehotelgroup.com.

http://www.norwichpartners.com