Arbor Funds $16.5 Million Fannie Mae DUS® Small Loan Portfolio in Kentucky

Matthew Madacsi

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a portfolio of Fannie Mae DUS® Small Loans in Kentucky.

The nine properties, totaling 606 units, received $16.5M in combined funding through the program. All the deals included 10-year fixed rate terms.

Matthew Madacsi of Arbor’s New York City office originated the loan.

“This portfolio is a prime example of Arbor’s ability to finance stabilized multifamily properties nationwide,” said Madacsi. “Our Fannie Mae program provided our client, a prominent development group in the Western Kentucky area, the flexibility, structure and nonrecourse terms they needed.”

 

Glenn Street Apartments, Paducah, KY

The portfolio includes the following properties:

Glenn Street Apartments, Paducah, KY: Built in 1968, this 54-unit property offers two-bedroom residences equipped with HVAC systems and washer/dryer hookups. The property is conveniently located next to shops and restaurants.

Ora Lane Apartments, Paducah, KY: Built in 1986, this 40-unit property is pet-friendly and provides furnished kitchens along with washer/dryer hookups. Master bedrooms include spacious balconies. The surrounding town is packed with colorful storefronts dating back to the previous century, which now serve as popular restaurants, specialty shops, art galleries and other small businesses.

Live Oaks Apartments, Murray, KY: Built in 1978, this 88-unit property offers 1-3 bedroom apartments with fully equipped kitchens. In addition, a laundry facility and community room are located on the property, which is 2.5 miles from Murray State University.

Ora Lane Apartments, Paducah, KY

Black Oaks Apartments, Paducah, KY: Built in 1950, this 60-unit property offers beautiful townhouses with fully equipped kitchens, HVAC systems and washer/dryer hookups. The property is in close proximity to Kentucky Oaks Mall, West Kentucky Community & Technical College, and area hospitals.

Cardinal Point Apartments, Paducah, KY: Built in 1953, this 84-unit property offers on-site laundry facilities and air conditioning. The property is located near Noble Park and is a short drive from Kentucky Oaks Mall and West Kentucky Community & Technical College.

Colony Drive Apartments, Paducah, KY: Built in 1970 and located in a quiet country setting, this 104-unit property is pet-friendly and offers 1-3 bedroom residences. Community amenities include a picnic area.

Colony Drive Apartments, Paducah, KY

Jordan’s Crossing Apartments, Paducah, KY: Built in 2016, this 24-unit property offers townhomes with fully equipped kitchens. The property is pet-friendly and in close proximity to shops and restaurants.  

Willow Oaks Apartments, Paducah, KY: Built in 1973, this 72-unit property offers 1-3 bedroom residences and includes an on-site laundry facility. It is conveniently located near Noble Park.

Red Oaks Apartments, Murray, KY: Built in 1978, this 80-unit property offers 1-2 bedroom apartments with fully equipped kitchens, as well as an on-site laundry facility.

CONTACT:

 Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

Arbor Funds $4.2 Million Fannie Mae DUS® in Jackson, MS

  

The Carleton Seniors Apartments, Jackson, MS

UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR), aleading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® in Jackson, MS.

 The Carleton Senior Apartments, a 78-unit urban mid-rise complex, received $4.2M in funding through the program. The deal provides a 12-year term with a 25-year amortization period.

Matt Norman, of Arbor’s Bloomington office, originated the loan. 

“Arbor was able to assist the client in accomplishing two goals with this transaction – freeing up additional trapped equity via the refinance, and converting the client from a shorter-term ARM loan to a longer-term fixed rate product,” Norman said.

Matt Norman

“The transaction was the finalization of a two-stage strategy, in which the shorter-term loan was used for acquisition, rehabilitation and restabilization. After the net operating income was maximized, the loan was successfully converted to a permanent Fannie Mae loan.” 

Built in 1979, The Carleton Senior Apartments is a gated community for tenants 55 years and older. The complex features a swimming pool, central courtyard, covered parking, community center, 24-hour emergency on-call service and weekly social activities.

The individual units include walk-in closets and large dining rooms with chandeliers, as well as fireplaces and screened porches in selected units.

CONTACT:

 Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

The Keyes Company Welcomes Jupiter/Tequesta Specialist Brad Mayo; Leading real estate firm adds Onshore Properties team to Family of Companies

Brad Mayo

Miami, FL.,| Feb. 14, 2019 – The Keyes Company has announced the addition of Brad Mayo to the company’s Jupiter/Tequesta office. Mayo’s Onshore Properties will be joining forces with the state’s largest independent brokerage.

Joining Mayo in the move are Sales Associates Dana George, Sandy Thomas, Patricia Sprankle and Dawn Rolland.

Gonzalo Herrera

For more than three decades, Mayo and his team have provided top of the line real estate services in Jupiter, Tequesta, Jupiter Farms and surrounding areas, where the Mayos have been one of the pioneer families.

Also known as “Jupiter’s Native Son”, Brad Mayo’s background in construction, coupled with his veteran real estate experience, will play a pivotal role in the progression of the Keyes Jupiter/Tequesta office.

Mike Pappas

“Brad brings decades of experience and knowledge of the area with him,” said Keyes President and CEO Mike Pappas. “His solid foundation in real estate and the Jupiter/Tequesta region is just what our team needs to ensure we continue to deliver top quality to those looking to find a new place to call home.”

“The Keyes Company is an industry leader and powerhouse,” said Mayo. “To be able to work with the Keyes Jupiter/Tequesta team, an area which has been home to my family for generations, is an opportunity I could not pass up. I’m looking forward to a stronger network and collection of resources that will allow me more time to work for and with my clients.”

“We are excited that Brad Mayo and his team have joined our Jupiter/Tequesta & Jupiter Farms office," said Gonzalo Herrera, Sales Manager at Keyes’ Jupiter/Tequesta office.

"With today’s publicly accessible details and specifications about the property, real estate consumers are looking for Realtors who can tell them about the history and stories of the neighborhoods and communities.

"Brad’s knowledge and experience of the area as a Jupiter native allows him to tell the history of Jupiter as few can,”

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

Web | Facebook | LinkedIn | Twitter | Instagram

Industry Veteran Steven Yazdani Opens Nova Capital in Los Angeles, CA

 

Steven Yazdani

LOS ANGELES, CA – Industry veteran Steven Yazdani has announced the opening of his new firm, Nova Capital, a Los Angeles-based real estate capital advisory firm providing a full range of financing services, including debt, equity and structured finance solutions across all major asset classes. 

The firm currently has more than $640 million of financing mandates in the pipeline representing the full spectrum of capital and product types ranging from a $25 million construction loan for a 110-unit development in Warner Center to the $100 million recapitalization of a Class A office building in Downtown LA. 

Prior to opening Nova Capital this month, Yazdani was a founding partner of Lucent Capital.  Additionally, he previously opened and co-headed the Los Angeles office for the Carlton Group, a New York based real estate investment banking firm.

In the last quarter of 2018, Yazdani was responsible for closing over $100 million of financing including the construction financing of a 146-unit mixed use complex in Northridge, acquisition financing of a 144,034-square-foot regional shopping center in Lake Elsinore, CA, and land/predevelopment financing for a 205-unit development in Downtown LA’s Financial District.

“The fact that we already have over half a billion dollars in assignments the first month we are open is the best testament to our real commitment to building relationships with our clients,” Yazdani notes.

 “We are relentless advisors and advocates for our clients. Our depth of experience and existing trusted relationships make us uniquely positioned to deliver best in class financing and execution to clients throughout the United States and Mexico.”

                                                                       

CONTACT:

Micaela Fehrenbach / Jenn Quader

Brower Group

(949) 955-7940

mfehrenbach@brower-group.com

www.novacapital.com.

HFF closes sale of Residence Inn Boston Tewksbury/Andover in Tewksbury, MA

Residence Inn Boston Tewksbury/Andover hotel,
1775 Andover Street, in the suburban Boston community of Tewksbury, MA

BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the sale of the 130-room Residence Inn Boston Tewksbury/Andover hotel in the suburban Boston community of Tewksbury, Massachusetts.

Daniel C. Peek

The HFF team represented an institutional seller, and procured the buyer, Sawyer Realty Holdings, LLC. 

The hotel was marketed as part of a three-property Northeast hotel portfolio that also included the recently-closed Hyatt House Bridgewater in Bridgewater, New Jersey, and the Hampton Inn & Suites Providence/Smithfield in Smithfield, Rhode Island.

The Residence Inn Boston Tewksbury Andover is located at 1775 Andover Street just off Interstate 495 in Tewksbury. 

 The hotel is positioned near strong corporate demand drivers in the tech and pharmaceutical industries such as Raytheon, Thermo Fisher Scientific, Hewlett Packard and IDEX, among others.

Denny Meiklelham

  Additionally, the local area is home to many higher education institutions such as Phillips Academy, Merrimack College and the University of Massachusetts Lowell that provide healthy demand throughout the year. 

Completed in 1990, the property comprises 10 three-story buildings offering guest rooms along with one- and two-bedroom suites.

 Hotel amenities include complimentary breakfast, complimentary evening social event on select evenings, a fitness room, car rental station, convenience store, bbq pit, outdoors swimming pool and business center. 

The HFF investment advisory team representing the seller consisted of senior managing director Daniel C. Peek, managing director Denny Meikleham, senior directors Alan Suzuki and KC Patel and director Matthew Enright.

Jessica Rosenberg

Sawyer’s acquisition team was led by acquisitions and asset manager Jessica Rosenberg.

David M. Rosenberg

Founded over 30 years ago by Principal and CEO David M. Rosenberg, Sawyer Realty Holdings LLC (Sawyer) is a multi-disciplinary real estate investment firm that has the unique ability to envision, assemble, and structure extraordinary real estate transactions.

Ownership and key personnel have over 100 years of combined experience, enabling the firm to evaluate and develop effective asset strategies. 

Sawyer structures complex real estate transactions by accessing its deep financial resources, innovative financing, longstanding relationships, and its knowledge and experience in the multi-family and hospitality industries.

Alan Suzuki

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).

K.C. Patel

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

Matthew Enright

CONTACTS:

DENNY MEIKLEHAM

MA Lic. #009519748

HFF Managing Director

(617) 848-1560

dmeikleham@hfflp.com

ALAN SUZUKI

HFF Senior Director

(617) 338-0990

asuzuki@hfflp.com

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

EagleBridge Capital Arranges $17,865,000 Mortgage Financing For the Dior Dedham

The Dior Mixed-Use Development, Dedham, MA

Boston, MA -- EagleBridge Capital has arranged construction/permanent mortgage financing in the amount of $17,865,000 for the Dior located at 910-928 Providence Highway, Dedham, Massachusetts.

Brian D. Sheehan

The mortgage financing was arranged by EagleBridge principals Brian D. Sheehan and Ted. M. Sidel who stated that the loan was provided by a leading Massachusetts financial institution.

The Dior is a four-story, 46,525 square foot, mixed use development consisting of 48 one and two bedroom residential units and 9700 square feet of street-level retail space.

The apartments will offer premium contemporary finishes with kitchens featuring the latest Energy Star rated stainless steel appliances, drawer microwaves, modern custom cabinetry, quartz counters, and ample storage space.

The new mixed-use community will be located directly adjacent to Legacy Place, a 780,000 square foot life style center with over 75 tenants including Whole Foods, Life Time Fitness, Showcase Cinema, GAP, LL Bean, Amazon books, Apple as well as a wide variety of other stores and restaurants.

Ted M. Sidel

The Dior is less than one-half mile from Exit 15 of Route I-95 and a short distance from the MBTA commuter line offering easy access to Boston.

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for apartment, industrial, office, and  r & d buildings, shopping centers,  hotels, condominiums and mixed use properties as well as special purpose buildings.

  

CONTACT:

Stanley J. Sidel

Senior Advisor

EagleBridge Capital

One Boston Place, Suite 2600

Boston, MA 02108

Tel: 617-292-7177 Ext. 300

www.eaglebridgecapital.com

Betsy Holden Named to National Retail Properties Board

Betsy D. Holden

ORLANDO, FL, PRNewswire -- National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced that Betsy D. Holden was appointed to the Board of Directors. 

"I am honored to welcome Betsy Holden to the Board of Directors of National Retail Properties," said Jay Whitehurst, President and Chief Executive Officer.

Jay Whitehurst

 "Betsy's background and experience, as a former co-CEO of Kraft Foods, Inc. and as a Senior Advisor at McKinsey & Company, will bring tremendous value to National Retail Properties in the areas of strategy, governance and consumer retailing.  I very much look forward to working with Betsy as she assumes her role on our Board,"

"I am pleased to join Jay in welcoming Betsy Holden to the Board of Directors of National Retail Properties.  Betsy's talents and extensive corporate leadership experience will further strengthen our Board as we continue to grow long-term shareholder value," said Don DeFosset, Chairman.

Ms. Holden is a Senior Advisor to McKinsey & Company and served as President, Global Marketing and Category Development as well as Co-Chief Executive Officer of Kraft Foods, Inc.

Don DeFosset

 Ms. Holden has extensive corporate governance experience having served on the board of directors of eight public companies over the last 20 years.

Ms. Holden currently serves on the boards of Dentsply Sirona and Western Union as well as Lyons Magnus, a private company.

 She is also a member of the executive committee of Duke University's Board of Trustees and serves on the Global Advisory Board of Northwestern University's Kellogg School of Management.

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of September 30, 2018, the company owned 2,847 properties in 48 states with a gross leasable area of approximately 29.7 million square feet with a weighted average remaining lease term of 11.4 years.

CONTACT:

National Retail Properties, Inc.

http://www.nnnreit.com

HFF announces $76.8 million sale and $58.9 million financing of 4-property office portfolio in San Diego, CA

                                                                                            Photo by Bill Robinson Photography 
Liberty Station, San Diego, CA

SAN DIEGO, CA –– HFF Holliday Fenoglio Fowler, L.P. (HFF) announces the $76.8 million sale of and the $58.9 million financing for four Class A office buildings totaling 181,171 square feet within the Liberty Station mixed-use development in San Diego, California.

Nick Psyllos

The HFF team marketed the property on behalf of the seller, McMillin Companies, and procured the buyer, a partnership of locally based IDS Real Estate Group and Lionstone Investments.  Additionally, working on behalf of Lionstone, the HFF team placed the 72-month, floating-rate acquisition loan with Suntrust Bank. 

Liberty Station is a preeminent mixed-use master planned development in San Diego, and the transaction comprises four separate assets located at 2280, 2468 and 2488 Historic Decatur Road and 2750 Womble Road.  

The buildings were completed between 2003 and 2006 and are 81.1 percent leased overall to a diverse tenant roster comprising legal, professional and financial services, aerospace and defense, hospitality, government and media tenants, among others. 

Liberty Station is situated within the greater 360-acre Liberty Station master plan, which includes:

 349 residential units; 347 hotel rooms (with an additional 650 hotel rooms under construction or proposed); nearly 400,000 square feet of office space; 30+ food and beverage establishments; 40+ shopping and retail stores (including grocery-anchors);

Kara Mathis

 16 health and fitness centers, 11 event spaces, a luxury movie theatre; a golf course; a nearly 100-acre park-like arts district that is home to more than 20 museums and galleries; and the High Tech School campus with more than 3,500 students in their elementary, middle and high schools.  

The property is in a high-barrier-to-entry area at the heart of the affluent Point Loma area along San Diego Bay, about 2.5 miles from the San Diego International Airport. 

Tim Wright

McMillin acquired the property in 2000 as a former naval base turned neighborhood. Liberty Station was built upon naval roots including the original Naval Training Center (NTC) that opened in 1923. 

NTC transitioned into Liberty Station and became a cultural hub of art, leisure and history — creating a timeless destination.  

Built by design, Liberty Station creates an authentic experience-encompassing beautifully landscaped promenades, restored historic buildings that have been preserved for today’s commerce, storied corridors, historic landmarks and spacious plazas.  

The project incorporates several historical structures, as well as newly-constructed office buildings that mimic and honor the existing historic architecture.

The HFF investment advisory team representing the seller consisted of senior managing director Nick Psyllos and senior associate Kara Mathis. 

HFF’s debt placement team representing the borrower included senior managing director Tim Wright and director Chris Collins.

Chris Collins

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

Founded in 1960, McMillin has more than 50 years of successful real estate investments, including land development of 16 mixed-use master-planned communities, 30,000 homes, 20 community parks, in addition to schools, shopping centers, commercial office real estate and more. 

Since its founding over 30 years ago, IDS Real Estate Group has been widely recognized for enhancing value on over $5 billion of commercial real estate.  

Lionstone Investments is a data-analytics driven real estate investment firm that conceptualizes, analyzes, and executes national investment strategies using proprietary algorithms and advanced analytics to understand the changing ways people in America want to live and work.

CONTACTS:

NICK PSYLLOS

CA Lic. #00788060

HFF Senior Managing Director

(858) 552-7690

npsyllos@hfflp.com

TIM WRIGHT

CA Lic. #00947194

HFF Senior Managing Director

(858) 552-7690

twright@hfflp.com

KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990
krmurphy@hfflp.com

mcmillin.com 
lionstoneinvestments.com.