RKW Residential Expands into Orlando, FL with New Office; Hires Lizzette Herron as Senior Regional Manager

Lizzette Herron

 Orlando, FL (Feb. 1, 2019) — RKW RESIDENTIAL, a leading multifamily property management company, has opened an office in Orlando to support expected portfolio growth there and in the Tampa area.

 Experienced multifamily industry professional Lizzette Herron has joined RKW as Senior Regional Manager to oversee operations in Orlando and surrounding markets.

Herron works closely with Orlando-based Senior Vice President of Client Services Stephanie Brown in these markets. Both are based in the new Downtown Orlando office

“We are thrilled to have Lizzette on board to bolster our efforts in and around Orlando,” said Brown. “It’s no secret that the Orlando area is experiencing a boom in real estate development and corporate expansions and relocations. The demand for our services is growing in lockstep with the population growth.”

Stephanie Brown

More than $10 billion in infrastructure projects are in the pipeline in Orlando, including the I-4 Ultimate highway improvements and expansion of Orlando International Airport.

 Orlando is also among the fastest-growing multifamily markets in the nation, with 4.4 percent year-over-year rent growth across all asset classes in 2018, according to Yardi Matrix. That ranked sixth out of 127 nationwide markets tracked by the company.

With over 20 years of multifamily experience, Herron started her career with Summit Properties before the company merged with Camden Property Trust in 2005. Most recently, she served as Camden’s District Manager, overseeing repositions, stabilized and lease-up communities in the Orlando and Tampa markets.

RKW’s growth has spread beyond South Florida into Orlando and Jacksonville starting with over 500 units under management.

Johnny De La Espriella

“With Stephanie and Lizzette at the helm, our Orlando and Tampa operations are in capable hands,” said Johnny De La Espriella, the Regional Vice President managing Florida operations for RKW. “We look forward to building on what was a banner year for the company in the year ahead.”

In 2018, RKW’s overall portfolio grew by more than 7,000 units. The company’s footprint expanded from three to seven states during that span.

Contact:

Eric Kalis

Vice President, BoardroomPR

ekalis@boardroompr.com

O 954-370-8999

www.rkwresidential.com.

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

KAI Design & Build Announces Restructuring and New Leadership Roles; New branding, website and logo to unveil in February

Michael B. Kennedy Jr.

St. Louis, MO -- KAI Design & Build, an integrated architectural, engineering and construction services firm providing design and construction solutions across the country for nearly 40 years, has announced a corporate restructuring and will now be known as KAI Enterprises.

KAI Enterprises, which will simply go by KAI publicly, will serve as the parent company of four new subsidiaries—KAI Design, KAI Engineering, KAI Build and KAI 360 Construction Services (KAI 360 CS).

Darren L. James 

As part of the restructure, KAI will launch a new branding effort in February that includes a new corporate brand identity, logo and tagline as well as a new website.

The name change and restructure reflects KAI’s broader commitment to its clients and the AEC industry and unifies the company's operations under a new core focus and set of core values.

CEO Michael Kennedy, Jr. officially launched the new structure in October 2018, with Darren L. James, AIA, transitioning to President of KAI Enterprises. James, a shareholder within the company since 2010, was formerly the President and COO of KAI Texas.

“This is a new day for service delivery in the design and construction industry,” said James. “The continued evolution towards better and greater communication enhances the work environment for our staff and provides a more comprehensive experience for our clients.

"We believe in long-term, mutually beneficial relationships with our clients and our restructuring is our investment in continuous improvement, evolution and reinvention to better serve our clients, staff and community.”

In 2017, Michael Kennedy, Sr., founder and chairman of KAI Design & Build, retired and sold his company shares to his son, Michael B. Kennedy, Jr.

Michael E. Kennedy Sr.

The younger Kennedy decided at that time to restructure KAI and create new entities for each of the company’s business lines under the umbrella of a new holding company.

KAI is now poised through its four distinct business units to serve its clients with national resources from its headquarters in St. Louis and offices in Atlanta, Dallas, Omaha and San Antonio.

“As a shareholder of the KAI family of companies, it is my intention to strategically place the parent company and each business unit in the most advantageous position for growth, stability and profitability, regardless of the external economic climate,” said James.

“As the President of KAI Enterprises, it is my role to create opportunities that sustain our business unit’s individual goals, and nurture and grow our staff with exciting projects with a purpose to transform the communities we touch.”

Contact:

Jennifer Beidle

314-607-9459

jennifer@jbeidlepr.com

www.kai-db.com.

RECI Expects Home Mortgage Rates to Climb to 5% Level

John Oharenko

Chicago, IL,  Feb. 1, 2019 – The Real Estate Capital Institute states that with the government shutdown temporarily settled, the capital markets refocus on trade wars and economic growth for gauging interest rate control by the Fed. 

In the first meeting of this year, the Fed agreed to exercise caution, keeping rates unchanged and causing overall indices to drop to the same levels as the end of last year.  The Fed policy may change course should GDP growth approach year’s three-percent level. 

The net result of the Fed’s actions may be a five-percent-benchmark mortgage rate as the new low-rate norm – treading levels not seen in over a decade.  These rates will dampen home-ownership affordability, but should help sustain demand for rental housing and related commercial real estate property types.

The Real Estate Capital Institute’s® director, John Oharenko, suggests, “Finally, the tide is turning from a strong seller’s market to more ‘normal’ equilibrium.  Cash flow is king.  Owners with extremely strong management and operations teams should win big in this volatile market.”

Even as rates moved upwards during the past two years, mortgage pricing still stays historically attractive as compared to the most recent recession.  

Nevertheless, investors absorb less favorable debt and leverage, ultimately trickling down to lower property values. Owners, now more than ever, feel the pressure to maximize cash flow in the face of such market factors as follows:

Limited Income Growth:  Most CRE sectors are operating at peak performance levels based upon nearly a decade of growth. Not much room for upside, as new supply saturates inventory in select areas and property sectors.  Owners compete by offering “more for less”.  Expect capitalization rate to move upward by as much as fifty basis points, and prime overall yields to rise to the double-digit range for all but the highest-quality institutional assets.

Climbing Expenses:  Expenses are catching up to income.  Rising rents and values of the past few years, definitely have not escaped notice of governmental taxing bodies.  Municipalities are raising real estate taxes to record levels.  

Additionally, rapidly escalating property insurance rates follow close behind due to mounting losses from recent catastrophes (e.g., California wildfires). 

Rising management and employee costs also surface, as owners desperately seek [and try to retain] talent in a fiercely competitive job market.  

Alternatively, “smart” building designs dampen rising expenses through efficient energy management.

Contact:

John Oharenko,

Executive Director

director@reci.com / www.reci.com

Two New Del Webb Communities Coming to Jacksonville, FL

Clint Ball

JACKSONVILLE, FL (Feb. 1, 2019) — Del Webb, the nation’s leading builder of active adult communities for those ages 55 and older has announced two new communities coming to the Jacksonville area.

 The company closed on 188 acres in Nocatee on Jan. 8 for phase one of Del Webb Nocatee. 

The first 88 acres of Del Webb eTown is currently under development on the southeast side of Jacksonville, within the eTown master-planned community. Both communities are expected to release for sale this summer with prices starting in the mid-$200s.

“Each community will provide residents a unique lifestyle of social and recreational offerings in addition to floor plans designed specifically with the active adult buyer in mind.” said Clint Ball, North Florida division president for PulteGroup.

Del Webb eTown will offer 346 homesites and include over five-acres of resort-style amenities, fitness paths and pocket parks.  The community will be part of the eTown master-planned development along State Road 9B near I-295 and the upscale St. Johns Town Center.  

Residents will be less than 10 minutes from over 200 retail stores and restaurants at the town center, as well as centrally located to the area’s elite hospitals such Baptist Medical Center South and Mayo Clinic.

Baptist Medical Center South, Jacksonville, FL

Del Webb Nocatee is located in the Nocatee master-planned community east of I-95 in Ponte Vedra. The community will offer 854 homesites and include a seven-acre, resort-style amenity center with pools, tennis, pickleball, fitness and a 20,000-square foot clubhouse with numerous social activity spaces.  

Several homesites offer views of natural preserves in a quiet setting less than four miles from pristine beaches and in close proximity to world-class golf courses and historic St. Augustine.

 For more information, visit DelWebb.com/PonteVedra or call 866-224-4231.

  

CONTACT:

Jasmin Curtiss

 Account Executive, BoardroomPR

jcurtiss@boardroompr.com

 O 954-370-8999

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

DelWebb.com/Jacksonville

Patrick J. Brazil of NAI Realvest Named Winter Park Chamber’s 2018 Ambassador of The Year

Patrick J. Brazil being presented with the Winter Park Chamber of Commerce 2018 Ambassador of the Year Award by Chamber President Betsy Gardner Eckbert (Left) and past Board Chair Jana Ricci.

Winter Park, FL – Patrick J. Brazil, Sales Associate for the Hospitality Division at NAI Realvest was recently named the Winter Park Chamber of Commerce 2018 Ambassador of the Year during the Chamber’s recent Annual Dinner at Mead Botanical Gardens. 

Brazil, who has been a Winter Park Chamber Ambassador for two years, was among three selected by chamber staff from approximately 25 Ambassadors. The Board of Directors and Trustees selected Brazil for the Ambassadors top honor.

The Winter Park Chamber of Commerce is one of the largest chambers in the region with more than 830 members.

CONTACTS:

Patrick J. Brazil, CIPS, Sales Associate Hospitality Division NAI Realvest,  

407-875-9989 pbrazil@nairealvest.com

Robin Webb, CCIM, CHA, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest, 407-875-9989 rwebb@realvest.com;                                                

           

Beth Payan, Larry Vershel Communications

407-644-4142 lvershelco@aol.com orbeth@larryvershel.com

HFF announces $19.9 million sale of newly constructed office building in Chapel Hill, NC

The Station at East 54 office building, Chapel Hill, NC

CHARLOTTE, NC –– HFF announces the $19.925 million sale of The Station at East 54, a newly constructed, Class A office building totaling 47,856 square feet in Chapel Hill, North Carolina.

The HFF team represented the seller, a joint venture between East West Partners Management Company of NC and Northridge Capital, and procured the buyer, Durham, North Carolina-based Mattie Equity, LLC.

Ryan Clutter

Completed in 2018, The Station at East 54 is a state-of-the-art office asset that is fully leased to two tenants, including Spaces, a subsidiary of Regus that provides creative and flexible co-working spaces, and TrueBridge Capital Partners.  

The Class A property is located within two miles of the University of North Carolina at Chapel Hill and features floor-to-ceiling windows with sweeping views of the UNC Finley Golf Course, ultra-modern interior finishes, creative meeting spaces, smart conference rooms, modern employee lounges and an attached two-story parking deck. 

 The building is adjacent to the walkable East 54 mixed-use urban development that features numerous street-level dining and retail offerings, offices, top-tier multi-housing units, a 130-room Aloft Hotel and luxury residential condominiums. 

Scot Humphrey

 Additionally, The Station at East 54 is located along the Highway 54 corridor that connects Chapel Hill and Research Triangle Park, offering tenants and visitors unmatched accessibility to North Carolina’s flourishing “Triangle” region.

The HFF investment advisory team representing the seller consisted of managing director Scot Humphrey, senior managing director Ryan Clutter, senior director Chris Lingerfelt and director Zack Drozda. 

“Ultra-modern jewel box office buildings like The Station at East 54 are highly coveted by investors and incredibly challenging to find in today’s market,” Humphrey commented. 

“This is especially true in Raleigh-Durham, where overall investor interest is off the charts due to a collective belief in the market’s ability to grow at an outsized clip over the foreseeable future.”  

Chris Lingerfelt

Holliday GP Corp. ("HFF") is a North Carolina licensed real estate broker.

Headquartered in Chapel Hill, North Carolina, East West Partners has been developing innovative communities in major markets, including the Research Triangle and Charlotte. 

 For more information, please visit: www.ewp-nc.com.

Founded in 1997 as a private asset manager for a prominent regional family group, Northridge Capital is an independent, private investment advisor and asset manager dedicated to providing a high level of personalized service for its clients. 

Since 2002, Northridge has expanded its activities to include operating as an independent, third-party investment advisor and asset manager on behalf of multiple American and Middle Eastern investors, including High Net Worth (HNW) individuals, families, and institutions. 

Northridge Capital has a national geographic footprint historically and currently focuses on Washington D.C., Texas, and the Southeast including Raleigh/ Durham (NC), Charlotte (NC), Nashville (TN), Atlanta (GA), Richmond (VA), Charleston (SC), and Central and Southeast Florida. 

For more information please visit www.northridgecapital.com .

Zack Drozda

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 visithfflp.com or follow HFF on Twitter @HFF.

CONTACTS:

RYAN CLUTTER

NC Lic. #172952

HFF Senior Managing Director

(704) 526-2800

rclutter@hfflp.com

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

HFF announces $7 million refinancing for grocery-anchored retail center in suburban Minneapolis, MN

Chris Drew

MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $7 million financing for Burnsville Market, a 137,396-square-foot, Club Foods-anchored retail center in the Minneapolis community of Burnsville, Minnesota.

The HFF team worked on behalf of the borrower, Sterling Organization, to place the three-year, fixed-rate bridge loan with RGA Reinsurance Company.  

Loan proceeds will be used to implement the borrower’s redevelopment plans.

Situated on 16.49 acres at 1750 County Road 42 West, Burnsville Market is in the heart of the dominant retail corridor that serves the southern Minneapolis MSA. 

 The center’s excellent visibility exposes it to more than 183,000 vehicles per day, and more than 69,000 residents earning an average annual household income of $87,497 live within three miles of the property.

Nat Scarmazzi

The HFF debt placement team included senior managing director Chris Drew, senior director Nat Scarmazzi and associate Matthew McCormack, along with managing director Jules Sherwood, a licensed Minnesota real estate broker.

“The Sterling Organization purchased the asset opportunistically and will begin to reposition the center to capitalize on the phenomenal market fundamentals and stellar demographics,” Scarmazzi said. 

“RGA understands the market and, more importantly, the quality of the sponsorship, which allowed them to execute in a compressed closing timeline.”

Sterling Organization is a vertically integrated private equity real estate firm that has an established track record of providing exceptional risk-adjusted returns to its partners, in both relative and absolute terms.

Matthew McCormack

The company’s national platform is focused on investing in value-add retail real estate assets and stabilized/core grocery-anchored shopping centers in major markets across the United States on behalf of Sterling’s principals in partnership with the highest quality institutional investors. 

 Sterling Organization is headquartered in Palm Beach, Florida.  for more information.

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.

Jules Sherwood

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.com or follow HFF on Twitter @HFF.

Burnsville Market, Burnsville, MN

CONTACTS

CHRIS DREW

HFF Senior Managing Director

(305) 448-1333

cdrew@hfflp.com

NAT SCARMAZZI

HFF Director

(305) 448-1333

nscarmazzi@hfflp.com

JULES SHERWOOD

MN Lic. #40340183

HFF Managing Director

(303) 515-8000

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

 http://www.sterlingorganization.com 

Arbor Funds $14 Million Fannie Mae DUS® Loan in Grand Rapids, MI

Michael Jehle

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® Loan in Grand Rapids, MI. The Gateway at Belknap Apartments, a mixed-use multifamily property, received $14M in funding through the program.

Michael Jehle of Arbor’s Oklahoma office originated the loan.

“This repeat customer of Arbor came to us after stabilization of the property for permanent financing,” said Jehle.

“We were pleased to provide a very attractive 15-year fixed rate loan with three years of interest only and a 30-year amortization schedule, exactly as the customer had requested.

The Gateway at Belknap Apartments, Grand Rapids, MI

"The Greater Grand Rapids Metropolitan Area is experiencing strong economic growth and development, and the subject property will enjoy high demand for many years in the future.”

Built in 2017, The Gateway at Belknap consists of retail space on the main floor and 88 apartment units within the three-story property.

Medical Mile, Grand Rapids, MI

Offering studio, one-bedroom and two-bedroom options, the upscale residences include underground parking, an elevator, interior mail access, 24-hour cardio studios, emergency maintenance and electronic keyed entry.

The Gateway at Belknap Apartments are located in the Belknap Lookout neighborhood overlooking the Medical Mile, which includes Michigan State University’s College of Human Medicine, Spectrum Health’s downtown hospital campus and clinics, the Van Andel Research Institute, and Grand Valley State University’s Cook-DeVos Center for Health Sciences.

CONTACT:

Bina Handa

Tel: 516.506.4229

bhanda@arbor.com