HFF arranges $8 Million acquisition financing for medical office building in Southern California

Redhawk Medical Center, Temecula, CA

 

Aldon Cole

SAN DIEGO, CA –– HFF announces $8 million in acquisition financing for Redhawk Medical Center, a 32,471-square-foot, multi-tenant medical office in the Southern California community of Temecula.

The HFF team worked on behalf of the borrower, Cypress West Partners, LLC (CWP), to place the seven-year, non-recourse, floating-rate loan with a commercial bank. 

Redhawk Medical Center is situated on 2.5 acres at 44272 George Cushman Court in Temecula, which is in the Inland Empire office market and equidistant between San Diego and Orange County. 

The medical office is proximate to the 140-bed Temecula Valley Hospital, which opened in 2013 and offers a comprehensive range of services.  The two-story building was completed in 2003 and is anchored by Vantage Oncology, which was recently acquired by the McKesson Corporation. 

The 95.1 percent-leased property is also home to a diverse range of tenants, including Pediatric Partners, California Imaging and Diagnosis, San Diego Fertility Center, New Point Wellness and Crescent Healthcare. 

Chris Cumella

The HFF debt placement team representing the borrower included senior managing director Aldon Cole. 

“HFF has continued to produce compelling debt terms for our healthcare assets,” said Chris Cumella, founder and principal of CWP.  “The team is in touch with the market and got us across the finish line.  This acquisition represents a chance for CWP to increase its profile in the Southern California market.”

Holliday GP Corp. ("HFF") is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

 For more information, please contact:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

 www.cypresswestpartners.com.

HFF announces $385 Million refinancing for Genesis North and South Towers in South San Francisco, CA

Olga Walsh

 

SAN DIEGO, CA –– HFF announces the $384.86 million refinancing of Genesis North and South Towers, two office and life science buildings totaling 717,883 square feet in South San Francisco, California.

The HFF team worked on behalf of the borrower, Phase 3 Real Estate Partners, Inc., to secure a $199.86 million, three-year loan through one of its life company relationship lenders for the recently completed Genesis North Tower. 

 The team secured a $185 million, five-year, floating-rate loan through a national commercial bank for the fully stabilized Genesis South Tower, the campus’s first phase. 

Genesis North and South Towers are located at One and Two Tower Place immediately adjacent to and visible from Highway 101 in South San Francisco’s life science hub. 

 This location is less than 10 minutes from the San Francisco Airport and proximate to the Bart/Caltrain lines of the San Bruno and South San Francisco stations. 

Todd Sugimoto

Due for completion in 2018, Genesis North Tower is a 21-story, 390,000-square-foot life science building.  Genesis South Tower was completed in 2016 and has 12 stories of laboratory and office space.  The project will include additional tenant and community amenities and offers panoramic views of the San Francisco Bay.

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

Holliday GP Corp. ("HFF") is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

 For more information, please contact:

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

  

HFF announces sale of Naugatuck Valley Shopping Center in Waterbury, CT

Jim Koury

BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Naugatuck Valley Shopping Center, a 382,864-square-foot, grocery-anchored shopping center in Waterbury, Connecticut.

The HFF team marketed the property on behalf of the seller, and procured the buyer, Premium Property LLC and BH Premium Quality Waterbury LLC.

Naugatuck Valley Shopping Center is 77.1 percent leased and is anchored by the region’s highest grossing Walmart as well as a full service Stop & Shop.  The 50.5-acre site offers 2,155 parking spaces and features additional tenants such as Panera Bread, Bob’s Stores and Wendy’s. 

 Located at 950 Wolcott Street, the center is within close proximity of Interstates 84 and 95, the primary routes between Boston, Hartford and New York City.  The center benefits from a trade area comprising 100,000 residents within three miles of the center and 368,000 residents earning an average household income of $87,400 within 10 miles of the center. 

Naugatuck Valley Shopping Center,
Waterbury, CT

The HFF investment advisory team representing the seller included senior managing director Jim Koury. 

“As with many retail centers today, Naugatuck is going through a transitionary phase, which presents an exciting opportunity for the next owners to reposition the center by re-merchandising the tenancy to reflect the new wave of concepts in retailing,” according to Koury.

 For more information, please contact:

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

Jenny Hink

DANIA BEACH, FL – The Keyes Company Sales Associate Jenny Hink has been named exclusive listing agent of the Aqua Bella Townhomes development in Dania Beach. Aqua Bella is the first South Florida project to be constructed by Atlanta-based Rocklyn Homes.

Hink, who is based in Keyes’ Lighthouse Point office and specializes in resale, land and development sales, is marketing the 55-townhome development on about five acres at 4430 SW 32nd Ave. The three-bedroom, two-and-a-half-bathroom townhomes have four available floor plans totaling around 2,100 square feet, each with a two-car garage.

Mike Pappas

Nearly half of the townhomes are located on waterfront lots with 25-foot boat slips. Three additional docks are available for purchase. Aqua Bella’s townhomes are priced in the $500,000s.

Hink is hosting a grand opening event on April 19 at 4 p.m. to showcase the brand-new sales center and four model townhomes.

“We salute Jenny for her hard work in beating out the competition to obtain this development listing,” said Mike Pappas, CEO and President of The Keyes Company. “She brings a relentless passion and energy to her listings and will take advantage of the Keyes technology, marketing and other tools at her disposal.”

Construction of Aqua Bella is expected to be completed in the next 18 months.

Rocklyn Homes is a family owned company with more than 100 years of experience among its management team. The company has received many awards for building and design excellence, including more than 30 OBIE Awards from the Greater Atlanta Home Builders Association and Atlanta Sales and Marketing Council since 2012. It has also been ranked in the top 10 of the Atlanta Business Chronicle’s Top 25 Homebuilders in Atlanta rankings every year since 2013.

Dania Beach, FL

“This couldn’t be a better time for Rocklyn Homes to embark on a high-end townhome project in Dania Beach,” said Hink. “The city is on the rise as a live/work/play destination. Not surprisingly, demand for our townhomes at Aqua Bella is strong.”

Dania Beach is experiencing a transformation through large-scale development, such as Dania Pointe. The mixed-use, $1 billion Dania Pointe under construction on 102 acres is one of the largest projects in all of South Florida. The City of Dania Beach is also embarking on numerous improvement projects to upgrade major streetscapes, signage, landscaping and infrastructure.

Keyes is the largest independently owned real estate firm in Florida and a Top 25-ranked firm in the entire United States, and is extremely active in luxury residential real estate. In 2017, Keyes generated more than $6 billion in real estate services across its Family of Companies.

For more information, please contact

Eric Kalis (ekalis@boardroompr.com)

NAI Realvest Negotiates Two New Multi-Year Leases in the Longwood / Casselberry Area in Central Florida

Kim Manson

ORLANDO, FL – NAI Realvest recently negotiated two new long-term lease agreements for retail and industrial space in Seminole County -- the Longwood Center and Seminole Commerce Center in Casselberry. 

Jeff Tanner

The NAI Realvest broker team of Jeff Tanner and Kim Manson represented Landlord GS Realty Inc. in the lease of 4,100 square feet of retail space at Longwood Center, 180 N. U.S. Hwy 17-92 in Longwood.  

 The tenant Sanford-based HZ88, LLC,represented by Grace Ren of Reliance Solutions, leased the space to operate a retail gift shop and clothing and accessories boutique.

At Seminole Commerce Center, 1495 Seminola Blvd., Marina’s Catering LLC leased 1,500 square feet of warehouse space.  Jeff Bloom, CCIM, vice president at NAI Realvest, brokered the transaction on behalf of the landlord Canterbury Enterprises, Inc.   

*  *  *

For more information, please contact

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

HFF announces financing for 618-acre land parcel in Rancho Mirage, CA

  

Olga Walsh

SAN DIEGO, CA –– HFF announces financing for a 618-acre, unentitled development site in Rancho Mirage, California.

Working exclusively on behalf of the borrower, an investment partnership led by Clarity Real Estate, the HFF team placed the fixed-rate loan withone of its relationship lenders.  Loan proceeds were used to acquire the property and to facilitate the future entitlement of the site. 

The parcel is bounded by Frank Sinatra Drive, Gerald Ford Drive, Bob Hope Drive and Monterey Avenue just east of Interstate 10 in Rancho Mirage. 

 Nestled among multiple country clubs and golf courses in Rancho Mirage, the property, which is commonly referred to as The Eagle, was once part of and is immediately adjacent to the famed Sunnylands Annenberg Estate. 

  

 Development plans for the property are expected to produce a premier, next-generation community and destination.

The HFF debt placement team representing the borrower included senior director Zack Holderman, director Chris Collins and senior associate Olga Walsh.

“The borrower has tremendous vision for this exceptional site located in the heart of the Palm Desert,” Holderman said.  “The site is poised to be the most highly sought-after destination for residents, hoteliers and commercial tenants in all of Rancho Mirage.”

Holliday GP Corp. (“HFF”) is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

Chris Collins

Clarity Real Estate is a private equity partnership led by real estate industry professionals focusing on thriving markets primarily in the southern and western United States, with an impressive track record of more than $2 billion of properties since 2011.

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. 

HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. 

HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).  For more information, please visit hfflp.comor follow HFF on Twitter @HFF.

 For more information, please contact:

  

hfflp.com Olivia Hennessey Public Relations Specialist 9 Greenway Plaza Suite 700 Houston ,  TX  77046 T: 713-852-3403 ohennessey@hfflp.com |@|*

Meridian Purchases Two Acres in Stockton, CA to Develop new 7,500-SF Medical Office Building

Lorenzo Brooks

SAN RAMON, CALIF. – Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce that it has closed escrow on the purchase of a 7,500-square-foot building sitting on 2.06-acres located in Stockton, California.

The purchase price was $1.25 million. Meridian purchased the property to develop a new ambulatory outpatient clinic for its client.  

“Once the existing building is vacated, we plan to demolish it in order to make space for the new larger facility,” said Meridian Director of Acquisitions, Lorenzo Brooks. “The new facility will be a state-of-the-art 13,600-square-foot OSHPD3 outpatient clinic. Construction is scheduled to begin in the next few months and should take less than a year to complete.”  

The project is located at 7500 West Lane, which is positioned directly across the street from Kaiser Permanente’s Stockton Medical Offices and within a five-minute walk to restaurants and retail amenities including Costco. 

“This location is perfect for our client who has experienced strong demand for its services in this area,” said Brooks. “We persevered for over 15 months to bring this deal to a close because of our confidence that this would be an ideal location to serve patients in the community. Ultimately, it was our ability to structure a deal that worked well for us as well as the existing landowner, which led to this successful transaction.”

Brooks adds, “We’re extremely proud of this acquisition as it shows our ability to unlock valuable real estate near major healthcare system hubs. This deal marks the 16th outpatient clinic that we have developed in the last five years and we continue to solidify ourselves as experts in healthcare development.”

 For more information, please contact:

 Anne Monaghan (anne@monaghanpr.com)

The Buccini/Pollin Group Acquires Sheraton Society Hill Hotel in Philadelphia

Sheraton Society Hill Hotel in Philadelphia, Pa.  

PHILADELPHIA, PA —Officials of The Buccini/Pollin Group, a privately held, full-service real estate acquisition, development and management company (BPG), today announced that it has acquired the 364-room Sheraton Society Hill Hotel in Philadelphia, Pa.  PM Hotel Group, a leading, national hotel management company based in Washington, D.C., will manage the hotel.

            “The Sheraton Society Hill is a remarkable asset in an unmatched location surrounded by numerous business and leisure demand generators, from the Liberty Bell and Independence Hall to Fortune 500 companies like Comcast and Aramark,” said Dave Pollin, co-founder, BPG. 

Dave Pollin

 “We are in the advanced planning stages of a complete makeover of the hotel to upgrade the guest experience.  In addition to improving both guest rooms and public spaces, we intend to change brand affiliations to better match and serve the surrounding community.”

            Nestled in the Old City district of Philadelphia at One Dock Street, the hotel is in the midst of some of the nation’s most renowned historical attractions, including The National Constitution Center and Penn’s Landing. 

   ResideBPG (residential property management and leasing), BPGS Construction (construction management), oversee all aspects of project acquisition, finance, development, construction, leasing, operations, and disposition for its portfolio properties.  The Buccini/Pollin Group has over 3,500 employees in 12 states. For more information, please

 For more information, 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

www.bpgroup.net.