HFF announces $121.7 million financing for multi-housing development in Milpitas, CA

Rendering of planned Anton Milpitas 730 Apartments,
 Milpitas, CA

NEWPORT BEACH, CA –– HFF announces the closing of a $121.7 million participating mortgage for the development of Anton Milpitas 730, a 266-unit, Class A multi-housing community with 1,800 square feet of retail in Milpitas, California.

Sean Deasy

The HFF team worked on behalf of the developer, Anton DevCo, to arrange the participating loan through an institutional partner.  This is the second phase of Anton’s two-phase development. 

 The HFF team also arranged a participating mortgage for Phase I, which is already under construction, in a transaction that closed in May 2017.

Anton Milpitas 730 is due for completion in 2020 and has been designed to LEED Silver specifications.  The five-story, wrap-style building will offer a unit mix ranging from studios to two-bedroom units averaging 762 square feet. 

 Planned project amenities include co-working space; dining and community courtyards; outdoor social space; a resident lounge; rooftop fitness center and pool overlooking the city; pet spa; bike repair station; lounge and a 372-space, six-story parking garage. 

Mark Erland

Units will feature high-speed internet, various smart technology features and upgraded finishes, including quartz countertops and gas ranges. 

 The transit-oriented project is located on 3.34 acres at 730 E. Capitol Avenue directly across from the nearly completed Milpitas BART station with access to the BART station and VTA Montague light-rail platform through a common access point immediately adjacent to the project. 

BART will provide residents with a less-than-one-hour commute to San Francisco’s Financial District, and the VTA light rail will provide access throughout Greater San Jose.

The HFF equity placement team included senior managing director Sean Deasy, senior director Mark Erland and director Matthew Benson.

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

Matthew Benson

Anton DevCo is a leading California multifamily developer. As a fully integrated platform, Anton develops, constructs, owns and manages market rate and affordable multifamily rental apartments throughout the State of California. 

Anton has developed over 10,000 units in 50 communities over 22 years, with aggregate asset value of over $2 billion, and is underway on 2,000 units in various stages of development.  

Learn more at www.antondev.com.

 For more information, please contact:

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

HFF announces sale of and financing for two-property apartment portfolio in Philadelphia, PA

Chestnut Hill Village, Philadelphia, PA

Francis Coyne

PHILADELPHIA, PA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of and financing for a two-property, transit-oriented apartment portfolio totaling 821 units in the historic Chestnut Hill submarket of Philadelphia, Pennsylvania.

The HFF team marketed the portfolio on behalf of the seller.  Goldman Sachs Asset Management Private Real Estate (GSAM PRE) purchased the offering free and clear of existing financing. 

Additionally, HFF’s debt placement team worked on the new owner’s behalf to procure a 10-year, fixed-rate acquisition loan through TH Real Estate, an affiliate of Nuveen (the investment management arm of TIAA).

Jose Cruz

The properties included in the offering are Chestnut Hill Village and Blossom Row. 

The properties, which were bifurcated in 2017, are situated on a total of 45 acres surrounding Market Square, an ACME Grocer-anchored shopping center, and adjacent to the Wyndmoor SEPTA regional rail station. 

Chestnut Hill Village comprises 704 units within 23 two- and three-story buildings.  Blossom Row encompasses 117 private-entry, two-story townhomes, which include fenced-in backyards and finished basements. 

Residents have access to best-in-class amenities, which are highlighted by a community pool and a recently constructed clubhouse with fitness center.  The portfolio is 96 percent occupied overall.

Carl Fiebig

The HFF investment advisory team representing the seller included senior managing directors Mark Thomson and Jose Cruz, senior director Carl Fiebig and director Fran Coyne.

HFF’s debt placement team representing the new owner consisted of managing directors Ryan Ade and Campbell Roche and director Michael Pagniucci.

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:

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

Chatham Lodging Announces Monthly Dividend

Chris Daly

WEST PALM BEACH, FL —Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, selectservice-hotels and owns 135 hotels wholly or through joint ventures, announced its board of trustees has declared a monthly common share dividend of $0.11 for August 2018.

              The common dividend is payable September 28, 2018, to shareholders of record on August 31, 2018.

Chatham Lodging Trust is a self-advised, publicly-traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. 

Dennis Craven

The company owns interests in 135 hotels totaling 18,519 rooms/suites, comprised of 40 properties it wholly owns with an aggregate of 6,020 rooms/suites in 15 states and the District of Columbia and a minority investment in two joint ventures that own 95 hotels with an aggregate of 12,499 rooms/suites. 
Additional information about Chatham may be found at chathamlodgingtrust.com.

For more information, please contact:

Chris Daly                                                                                    

Daly Gray Public Relations                                                   

 (Media)                                                                                       

(703) 435-6293 

chris@dalygray.com  

or

                                        

Chatham Lodging Trust                    

 dcraven@cl-trust.com

 Dennis Craven

 (561) 227-1386 

Value-add apartment communities attract investment to metro Phoenix, AZ

John Cunningham

PHOENIX, AZ – JLL’s Capital Markets experts have arranged the sale and financing of a portfolio of six metro Phoenix apartment communities on behalf of a fund managed by DRA Advisors LLC of New York City and their joint-venture partner, Dallas-based Milestone Group.

The buyer was a leading global institutional investor. DRA first bought the 1,751-unit portfolio in 2012.

Managing Directors John Cunningham and Charles Steele handled the sale on behalf of the sellers.

“This portfolio provides new ownership with scale all within premium submarkets allowing for the repositioning of each asset,” said Cunningham.

The properties are: The Residences at Stadium Village, a 382-unit community in Surprise; Sierra Canyon, a 236-unit community in Glendale; the 356-unit Finisterra in Tempe; Waterford at Peoria, a 200-unit community in Peoria; Sierra Foothills, a 322-unit community in Phoenix; and Lumiere Chandler, a 255-unit community in Chandler. The communities were built between 1997 and 2009.

JLL delivers multifamily investors a full range of solutions through one diverse, integrated platform. 

The division employs over 200 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors.

Charles Steele

JLL is also one of the nation’s largest affordable and conventional multifamily and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.

For more, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.

For more information, please contact:

Stacey Hershauer

Phone: +1 480 600 0195

Email: stacey@focusaz.com  

Orlando Sanford International Airport's Surrounding Land is Positioned for Major Mixed-Use Development with Low Transportation Hub Congestion

Paul Partyka

Sanford, FL --- The Orlando Sanford International Airport (OSIA), ranked for two decades as one of the fastest-growing airports in the U.S., has 400+ acres of vacant land surrounding its operations that has been readied for immediate development.  

With the emergence of hotels, offices, retail, warehouse/distribution and manufacturing facilities the airport will continue to be Seminole County’s economic growth engine. 

OSIA is seeking businesses to build facilities or opt for a build-to-suit on various-sized parcels initially released for lease within the acreage which has been designated for mixed-use development projects, according to NAI Realvest Partner Paul P. Partyka, CCIM, MICP. 

 “This is a fantastic opportunity for regional and national developers, hoteliers and retailers,” he said.

Partyka and Land Specialist Rachel Saunders, MBA is the team at Orlando-based NAI Realvest handling global marketing and leasing of the land parcels adjacent to the fifth busiest airport in the state.  

Rachel Saunders

The Airport engaged Zyscovich Architects who completed a vision study of the area and came up with a long-term use plan for  the Airport’s commercial real estate properties.

Seven major parcels ranging from 9.7 to 19.6 acres offering immediate development opportunities include two hotel sites, offices, which could include corporate headquarters or banks, a retail strip center which may include restaurants, a convenience store, flex and warehouse/distribution or training facilities, all located within Foreign Trade Zone 250.  

Commercial development is nothing new to OSIA, they’ve been involved in real estate for many years and currently the 1.6 million square feet of existing commercial space includes an Airport Industrial Park on 125 acres that is continuously at 95+ percent occupancy. 

“Businesses who want or need to have immediate access to an airport have a unique opportunity in Sanford,” said Partyka.   “The OSIA’s runways are as big as OIA’s, they accommodate three million passengers annually and a $60 Million terminal expansion is underway, yet roads traveled in and around the Orlando Sanford International Airport are far less congested,” he explained.  

“CSX Rail runs along the perimeter but more important for large trucks, the property benefits from ease of access via Lake Mary Blvd. to State Roads 46 and 417, which connect to a network of major arterial highways throughout the state.”

Sanford is the county seat, another convenience for new businesses, and the Airport is within a mile of 3,000 homes and townhomes planned for neighborhoods in an A-rated school district, key factors for companies to effectively build a qualified workforce.

Orlando Sanford International Airport

Economic development assistance is available for aviation related businesses who want to locate at one of the newly developed land parcels.

 “The environment is supportive of accelerating business growth and creating massive employment opportunities,” said Saunders.  An estimated 2,500 jobs could be created during construction stages alone.  

“This Airport’s new development project is poised for sustainable, long-lasting growth and it will dramatically change the landscape of Sanford establishing a gateway to Seminole County."

 For more information, please contact:

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 
407-644-4142

Lvershelco@aol.com or Beth@LarryVershel.com

Marcus & Millichap Handles $3.73 Million Sale of 46-Unit The Park at Glen Oaks Apartments in Clearwater, FL

 

Shawn Rupp

CLEARWATER, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of The Park at Glen Oaks, a 46-unit apartment property located in Clearwater, Fla., according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $3,735,000.

Shawn Rupp, Casey Babb, CCIM and Luis Baez, CCIM, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. 

 The buyer, a private investor, was secured and represented also by Rupp,  Babb and Baez.

Casey Babb

“This is a best-in-class property that has received complete interior and exterior renovations within the last 36 months,´ stated Mr. Rupp.

"The seller, a billionaire couple out of California, was looking to exit real estate completely. The buyer is a 3rd generation real estate investor and property manager who plans to make major upgrades to the tenant base and rents over the next 18 months of ownership,”

The Park at Glen Oaks is a newly repositioned, 46-unit, 1970s vintage, Class B+, garden apartment community located in Clearwater, Fla.

Luis Baez

 Originally constructed in 1970, interior renovations have been completed in 43 units including railing replacement, laundry facility upgrade, mail center upgrades, renovation of the on-site leasing office, exterior paint, unit electrical panel replacement, landscaping, bike racks, parking lots, curb concrete work and exterior stonework.

The Park at Glen Oaks is a short bike ride to Downtown Clearwater and less than a 30-minute commute to Tampa’s top employment center, the Westshore Business District.

The property is also equal distance to St. Petersburg with easy access to the major employers of the area. The Park at Glen Oaks is located at 311 South Betty Lane in Clearwater, Fla.

   

 For more information, please contact:

Whitney Davis
Marketing Coordinator
Marcus & Millichap 4030 W. Boy Scout Boulevard Suite 850 Tampa, FL 33607 (813) 387-4700 main (813) 387-4743 direct (813) 387-4710 fax whitney.davis@marcusmillichap.com
Follow us on:        NYSE: MMI

 www.MarcusMillichap.com

or

Ari Ravi

Regional Manager, Tampa

(813) 387-4700

HFF announces sale of Willow Creek Corporate Center in Redmond, WA

Michael Leggett

SEATTLE, WA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Willow Creek Corporate Center, a seven-building, Class A office park in the thriving tech submarket of Redmond, Washington.

The HFF team represented the seller, and procured the buyer, Preylock Real Estate Holdings.

Willow Creek Corporate Center comprises 421,785 square feet spread across seven fully leased buildings.  The campus is located in the supply constrained North Redmond submarket of Seattle, just minutes from Microsoft’s world headquarters. 

David Otis

The HFF investment advisory team representing the seller included Michael Leggett, Dave Otis, Logan Greer and Kevin Freels.

Preylock Real Estate Holdings are owners, operators and developers of commercial and residential real estate primarily located on the West Coast.

 They utilize a relative value approach to real estate investing, identifying unique investment opportunities in highly targeted, supply constrained markets.

Logan Greer

Generally, they seek to acquire assets that trade at a discount to replacement cost and/or comparable assets in neighboring sub-markets. The company is currently focused on the acquisition of value-add and core plus office buildings in major West Coast sub-markets.

Kevin Freels

 Preylock’s sponsors have a combined 26 years of commercial real estate investment experience, including experience with institutional real estate investment partners.

To date, Preylock has acquired assets totaling approximately two million square feet, investing approximately $700 million. 

For more information, please contact:

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

preylockholdings.com.