HFF announces sale and $11 million acquisition financing of southwest Florida grocery-anchored community center

Northpoint Shopping Center, Cape Coral, FL

MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale and $11 million acquisition financing of Northpoint Shopping Center, a 115,906-square-foot, grocery-anchored community retail center in the southwest Florida community of Cape Coral, Florida.

Kimberly Flores

The HFF team marketed the property on behalf of the seller.  ALTO Real Estate Funds purchased the asset free and clear of existing debt.  Additionally, working on behalf of the new owner, the HFF team placed the 10-year, fixed-rate acquisition loan with Wells Fargo Bank, N.A.

Daniel Finkle

Completed in 2008, the 96.9-percent-leased Northpoint Shopping Center is home to Bed Bath & Beyond, Michaels, PetSmart, ALDI, Five Below and more. 

 Additionally, the center is shadow anchored by an adjacent Publix and BJ’s Wholesale Club.  

Situated on 15.5 acres at 1803-1851 Northeast Pine Island Road, Northpoint Shopping Center is positioned along the trade area’s busiest thoroughfare and primary retail corridor. 

 More than 132,473 residents live within a five-mile radius of the center, and the population is expected to increase by nearly 10 percent over the next five years.

Luis Castillo

The HFF investment advisory team that represented the seller included senior managing director and co-head of HFF’s retail practice Daniel Finkle, managing director Luis Castillo, director Eric Williams and senior associate Kim Flores.

The HFF debt placement team that represented the new owner consisted of senior director Nat Scarmazzi.

“We are very excited to add this top-quality property to our portfolio,” said Scott G. Onufrey, president and managing partner of ALTO Real Estate Funds.  

“This investment marks the first deal ALTO is doing without a partner and it aligns perfectly with our strategy to invest in well-located, core-plus assets at attractive prices.  We are focused on acquiring assets in growing markets with strong demographics.”

Eric Williams

“The seller did an outstanding job creating value through the stabilization of Northpoint Shopping Center via the additions of ALDI, Five Below and Keke’s Café,” Finkle added. 

“The property’s strong performing tenancy and ideal location make for an outstanding long-term investment for ALTO Real Estate Funds.”

ALTO Real Estate Funds is a series of closed end investment funds specializing in value-add commercial real estate across the U.S. 

Established in 2010, ALTO is managed from New York City with regional offices in Dallas and Tel Aviv.  ALTO’s investments provide a stabilizing component to portfolios, combining low risk profiles with a value-add approach, to target an attractive annual yield and stable cash flow. 

Nat Scarmazzi

 The management team works closely with a network of experienced industry contacts to identify solid investment opportunities.  ALTO consistently demonstrates a strong and solid track record and consequently maintains a loyal investor base. 

 To date, ALTO has invested in 61 properties, with a value of $1.1 billion and representing approximately 12 million square feet. 

 For further information, please visit www.alto-investments.com, or follow and connect with us on LinkedIn, Facebook and Twitter.

Scott G. Onufrey

CONTACTS:

DANIEL FINKLE

FL Lic. #SL3043501

HFF Senior Managing Director

(305) 448-1333

dfinkle@hfflp.com

LUIS CASTILLO

FL Lic. #SL3203377

HFF Managing Director

(305) 448-1333

lcastillo@hfflp.com

ERIC WILLIAMS

FL Lic. # SL3179736

HFF Director

(305) 448-1333

ewilliams@hfflp.com

NAT SCARMAZZI

HFF Senior Director

(305) 448-1333

nscarmazzi@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

The Dilweg Companies Inks Full-Floor Lease with Steady at 101 Marietta Street in Atlanta, GA

 101 Marietta Street Tower, Downtown Atlanta, GA

ATLANTA, GA – The Dilweg Companies announced it  has signed a full-floor lease at 101 Marietta Street with Steady, an Atlanta-based tech startup that helps workers expand their income by finding part-time and flexible work opportunities through its revolutionary Steady app.

The six-year deal represents 20,060 square feet of premium office space for the fast-growing company that catapulted into prominence after beating out more than 1,000 competitors at Startup Pitch at Money 20/20, the world’s largest financial services innovation event.

Katherine Lynch

A recent $5 million capital improvement project that delivered brand new amenities, breathtaking skyline views and state-of-the-art workspace were significant factors in Steady’s decision to call 101 Marietta Street home.

The firm was courted by multiple office owners in Midtown and Downtown Atlanta, and moved into the building Jan. 2, 2019.

“This was a comprehensive search, and we felt 101 Marietta Street had a clear advantage when reviewing our requirements for workspace, ease of access and an overall community culture that would engage our workforce and promote long-term growth,” said Adam Roseman, CEO and Co-Founder of Steady.

Adam Roseman

Katherine Lynch, a First Vice President with CBRE, represented the owners. Greg Baxendale, Executive Vice President with JLL represented the tenant.

Founded in 2017, Steady has quickly emerged as an industry leader in helping today’s workforce find part-time and flexible work opportunities through the power of its income-building platform.

Since launching in August 2018, the Steady app has been downloaded nearly 450,000 times, and it recently added a new and improved income tracking feature.

Steady raised $9 million in its Series A financing round, and NBA great Shaquille O’Neal joined the team as an advisor and advocate.

Greg Baxendale

Located just steps away from landmark destinations such as Mercedes-Benz Stadium, State Farm Arena, Centennial Olympic Park, Georgia Aquarium and CNN Center, 101 Marietta Street has capitalized on Downtown Atlanta’s renaissance by signing leasing agreements totaling more than 143,000 square feet in 2018.

In addition to Steady, other notable tenants who call the building home include the Atlanta Hawks, NAGRA, Urban One, CH Robinson and Cogeco PEER 1.

“We are thrilled to welcome Steady to our growing community, which speaks volumes about the appeal of 101 Marietta Street to Atlanta’s emerging tech sector,” said Jerry Banks, Managing Director at The Dilweg Companies.

Jerry Banks

 “Its commitment is indicative of the shift we are seeing toward Downtown Atlanta as companies seek workspace and a location advantage that will help them compete for talent in the new playing field.

"We continue to see strong demand across all industries, and look forward to forging more 

CBRE is overseeing leasing at 101 Marietta Street.


To learn more about floor plans and available office space, click here.
Photos of the property can be found here.

For more information, please call (919) 402-9100 or go to www.dilweg.com.

Contact:

Nick Banaszak

The Wilbert Group

256-457-5384 (C)

nbanaszak@thewilbertgroup.com

Tyler Woodard joins JLL's Phoenix, AZ office as partner with the Multifamily West Team

Tyler Woodard

PHOENIX, AZ – The Phoenix office of JLL has hired Tyler Woodard as Vice President within the Multifamily Finance West Team, a group of JLL experts servicing clients in the West and across the nation.

In his new role, Woodard is responsible for originating and structuring U.S. debt and equity opportunities for multifamily properties. This includes leveraging JLL’s direct Fannie Mae, Freddie Mac, HUD and Bridge lending capabilities, as well as life company, bank, CMBS and private equity relationships.

Woodard joins JLL from Walker & Dunlop, bringing with him a track record of more than $3 billion in loan executions, with a focus on agency multifamily lending.

 He becomes part of JLL’s Multifamily Finance West Team, which executes multifamily debt and equity transactions for institutional and middle market clients. Woodard will be based out of the JLL Phoenix office along with Managing Director Brandon Harrington and team.

 

Brandon Harrington

Companywide, JLL’s multifamily division employs more than 200 professionals with access to thousands of domestic and foreign investors.

 In 2017, Freddie Mac ranked JLL a Top 10 multifamily lender by volume and the No. 2 Targeted Affordable Housing Seller and Fannie Mae ranked JLL the No. 3 DUS® Producer for Multifamily Affordable Housing and No. 3 DUS^® Producer for Seniors Housing. 

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 news, videos and research resources on JLL, please visit www.jll.com or www.jll.com/phoenix.

Contact: 

Stacey Hershauer

Phone: +1 480 600 1095

Email: stacey@focusaz.com

jll.com

The Preiss Company Acquires The 288-Bed Estates at San Antonio, TX

                                                                                                  Photo by Christopher T. Martn
Donna Preiss

GREENVILLE, NC -- Officials of The Preiss Company (TPCO), one of the nation’s largest, privately-held, student housing owner-operators, along with Centaline Investment Management Co., a diversified platform with 13 divisions, offering professional advisory and transactional services for real estate investments and financial planning,has announced the acquisition of The Estates at San Antonio.  

Located at 6515 Hausman Road, the 288-bed, 58-building complex is comprised of 104 units in cottage-style, two-story buildings and is less than two miles from the University of Texas – San Antonio (UTSA).

The Estates at San Antonio feature a variety of layouts, including two-bedroom/2.5 bath, three-bedroom/3.5 bath and four-bedroom/4/5 bath units.  TPCO will manage the property.

The Estates at San Antonio, TX

"We remain bullish on the Texas university marketplace and are pleased to add our first student housing community serving the UTSA market,” said Adam Byrley, chief operating officer. 

“This marks our seventh community in the I-35 Corridor between Austin and San Marcos, creating numerous economies of scale and the ability to share best practices. 

"Following its multi-million refurbishment, we are confident that The Estates at San Antonio will take its rightful place as the market leader.”

With an average size of 1,712 square feet, each unit provides a first-floor powder room, granite tile kitchen countertops, stained concrete flooring, modern light fixtures, full-size washer & dryer and patio/balcony. 

Additional community amenities include a large, resort-style pool, sand volleyball court, private campus shuttle, grilling/picnic stations and 24-hour fitness center. 

The property is within biking distance to all university classrooms and athletic facilities, as well as a large offering of nearby retail and restaurant outlets. 

            “With enrollment of more than 30,500 students, UTSA is well on its way to becoming a Tier 1 University,” noted Donna Preiss, founder and CEO, TPCO. 

University of Texas, San Antonio Campus

 “Since making it their goal to achieve this status, the university has increased research spending by 97 percent, provided numerous nationally ranked programs, expanded multiple campus learning facilities and substantially improved the academic prowess of students attracted to UTSA.

"Between the plan’s implementation in 2007 and fall 2017, first-time freshman applications increased by more than 5,000 applicants annually, and the first-time freshman acceptance rates fell by 13 percent.”

            The Estates at San Antonio shortly will begin a multi-million refurbishment program focusing on the clubhouse and amenity spaces.

            Celebrating its 32^nd year, Raleigh-based, The Preiss Company specializes in the development, acquisition and management of off-campus student housing.

The company is ranked in the nation’s top 10 largest, privately-held, student housing owner-operator.  

For more information, visit www.tpco.com. 
               

CONTACT:

 Amy Barger,

Vice President of Public Relations

The Preiss Company

(919) 532-1114

amy.barger@tpco.com

Hold-Thyssen Closes Acquisition of Off-Market Property In Lutz, FL for Mydental of Greater Tampa Bay

Theresa Margaris

CLEARWATER, FL and LUTZ, FL --- Hold-Thyssen, Inc., a full service commercial real estate firm, recently negotiated the $500,000 purchase of a medical/professional office building in the Van Dyke Commons Professional Park at 17521 N. Dale Mabry in Lutz.     

Theresa Margaris, transaction specialist at Hold-Thyssen, brokered the sale representing the buyer, Mydental of Greater Tampa Bay , P.A. and Apodaca Property Management Corp., seller of the 3,000 square foot dental office building in the professional park built in 2007. 

“I previously showed the buyer property but we couldn’t find the right size and location,” Margaris said, adding "Cold calling efforts revealed a willing seller, I brought the two parties together and it was a perfect fit.”

Hold-Thyssen, Inc. provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  

The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States .

  

CONTACTS:

Richard J. Fisher, Vice President/Investor Services, Hold-Thyssen, Inc. 

727-238-2876;

Rfisher@HoldThyssen.com

Robert P. Hold, Principal, Hold-Thyssen, Inc. 

407-691-0505, 

bhold@HoldThyssen.com

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 

407-644-4142 

Lvershelco@aol.com or beth@larryvershel.com

The Dow Hotel Company Promotes Steve Griffin to EVP & Chief Financial Officer and Randall King to EVP & Chief Operating Officer

  

Steve Griffin

SEATTLE, WA —Officials of The Dow Hotel Company (DHC), a leading national hotel owner/investor and operator, has promoted Steve Griffin to executive vice-president & chief financial officer and Randall King to executive vice-president & chief operating officer in recognition of their continuing leadership with the company.

“Having joined the Dow Company in 2001 and 2006 respectively, Randall and Steve have been instrumental in the growth and direction of this company,” said Murray L. Dow II, founder and president, DHC. 

Randall King

“With nearly 50 combined years of hotel experience between them, they are well poised to help us achieve our aggressive growth goals as we look to expand our portfolio of upper upscale, first class hotels throughout the United States. 

"Their counsel has been invaluable, and I look forward to the direction we collectively take moving forward. With a current projected pipeline, 2019 looks to be a record year for us.”

Steve Griffin most recently was senior vice-president of finance where he focused on the effective risk management and cost control strategies. 

In his new role, in addition to his existing financial responsibilities, Griffin also will provide oversight for the human resources function. 

Murray L. Dow II

Prior to joining The Dow Hotel Company, he was chief financial officer for WineBid.com, the largest online wine auction house in the world. 

He also held the same position with Tully’s Coffee Company, helping to grow the company from three domestic outlets to 140 stores internationally.  A Certified Public Accountant (CPA), Griffin received his B.A. in Business Administration - Accounting from the University of Washington. 

Randall King formerly was senior vice-president in charge of company operations, driving performance and partner relations.

  As his role expands, he also has been given responsibility for the company’s Food & Beverage concept expansion.  He joined DHC in 2001 as the general manager for the Embassy Suites O’Hare and has held progressively more important positions with the company throughout his tenure. 

Prior to that, he held a variety of sales, marketing and revenue management roles with Marriott International, Montclair Hospitality and Interstate Hotels & Resorts.  King received his B.S. in Business from Western Michigan University.

CONTACT:

 Chris Daly

Phone: (703) 864-5553

chris@dalygray.com            

www.dowhotelco.com.

HFF announces $48.65 million sale of Pullman Miami Airport hotel

Alexandra Lalos

MIAMI, FL – January 14, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $48.65 million sale of the Pullman Miami Airport, a 281-room, full-service hotel located within the prestigious Blue Lagoon Office Park in Miami, Florida.

Tony Malk

The HFF team marketed the hotels on behalf of the seller.  London + Regional (L+R), a London-based, privately-owned real estate firm, purchased the asset unencumbered of the existing management agreement.

Originally constructed in 1986, Pullman Miami Airport underwent a multi-million-dollar renovation in 2016 that converted the hotel from a Sofitel to a Pullman. 

The hotel features 18,500 square feet of indoor and outdoor meeting and event space; an outdoor pool; tennis courts; fitness center; business center and two food and beverage outlets, La Riviera and Le Bar.

Pullman Miami Airport is located at 5800 Blue Lagoon Drive and sits on a prime 10-acre site within the Blue Lagoon Office Park, a 1.6 million-square-foot park home to Fortune 500 brands like Burger King, Visa, Sony, Hasbro, Pepsi and FedEx. 

Daniel C. Peek

 The hotel site benefits from further development opportunity.  Visible to more than 400,000 annual flights, the hotel is situated four miles from Miami International Airport, which is the second busiest airport in the U.S. for international passengers. 

The HFF investment advisory team representing the seller included director Alexandra Lalos, managing director Tony Malk and senior managing director and head of HFF’s hotel group Daniel C. Peek.

The HFF Hotel Team continues to be active in the South Florida hotel market, having recently advised on the sales of the Element Miami Airport and the Holiday Inn Express & Suites Marathon and the refinancings of the Four Seasons at the Surf Club and the JW Marriott Marquis Brickell. 

“After experiencing a ‘mini cycle’ in Miami, where RevPAR declined and was stagnant during 2016 and 2017, respectively, as a result of the effects of the Zika virus, global currency fluctuations and the Miami Beach Convention Center under renovation, Miami has rebounded with force,” Lalos said. 

 “Through November 2018, Miami was the No. 2 fastest-growing RevPAR market in 2018, according to STR, second only to Minneapolis, which hosted the Super Bowl in 2018.”

“The strength of the South Florida lodging market is attracting new international sources of capital, including L+R, who are making their first hotel investment in Miami with the Pullman,” Malk added.

British Livingstone Brothers, Richard (left) and Ian

L+R is a property company based in London, UK, and is regarded as one of the largest privately held property companies in Europe. 

Founded in 1987 by brothers Richard and Ian Livingstone, L+R has business interests in over eight countries, with offices in London and Panama City. 

 L+R has an extensive hotel portfolio, with more than 17,000 rooms including iconic luxury hotels, full-service hotels, branded hotels and resorts in the Caribbean and Europe and a 47-select service hotel portfolio.

L+R’s hotel investments include the London Hilton on Park Lane, Trafalgar Hilton, Cliveden Hotel, Nobu Ibiza, Chewton Glen, Fairmont Pavilion, Barbados, Marriott Grand Cayman, Hotel MdR, in California and the Fairmont, Monte Carlo. 

 L+R’s worldwide investment and development programme is in excess of £9.0 billion.  Learn more at http://lrp.co.uk/hotels.

For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

CONTACTS:

ALEXANDRA LALOS

FL Lic. #SL3361476

HFF Director

(305) 448-1333

alalos@hfflo.com

TONY MALK

HFF Managing Director

(310) 407-2100

tmalk@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

HFF announces financing for 240-unit independent living development in suburban Chicago

Sarah Anderson

DALLAS, TX – January 14, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces financing for the development of Deerfield Senior Residences, a 240-unit, six-story, luxury independent living community in the northern Chicago suburb of Deerfield, Illinois.

The HFF team worked on behalf of affiliates of Banner Senior, LLC (“Banner”), the managing partner of a joint venture partnership that is developing the facility, to arrange joint venture equity through Harrison Street.

 Additionally, HFF worked on behalf of the new partnership to secure a $55.6 million, four-year, floating-rate construction loan through a national bank.

Matthew Schoenfeldt

Deerfield Senior Residences will be located on a 5.17-acre parcel adjacent to the Weinberg Campus for Senior Living at Lake Cook Road adjacent to the entrance to Interstate 294, which provides access to the northern Chicago suburbs, O’Hare International Airport and the CBD. 

The location is also within four miles of Northshore University Health Glenbrook Hospital and Northwestern University’s Glenview outpatient facility. 

 The Weinberg Campus is managed and operated by CJE SeniorLife, an affiliate of the Jewish Federation of Metropolitan Chicago.  CJE will also manage and operate the new Deerfield Senior Residences. 

Currently, the Weinberg Campus is home to 125 assisted living units and 40 memory care units, which are fully occupied, as well as adult day care services serving more than 100 clients per week. 

Deerfield Senior Residences, Deerfield, IL

 Due for completion in the summer of 2020, this new, best-in-class independent living component will complement the existing facilities and will provide a continuum of care for seniors in the area.

The HFF capital placement team representing the borrower included managing director Matthew Schoenfeldt and director Sarah Anderson.

CONTACTS:

MATTHEW SCHOENFELDT

HFF Managing Director

(312) 528-3650

mschoenfeldt@hfflp.com

SARAH ANDERSON

HFF Director

(214) 265-0880

sanderson@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3403

ohennessey@hfflp.com

https://www.bannerrealestategroup.com/.

https://www.harrisonst.com/.

www.cje.net.