Friday, April 5, 2019

Pollack Shores to Open Active Adult Community in Ponte Vedra, FL

Olea at Nocatee, 50 Pine Shadow Parkway, Ponte Vedra, FL

ATLANTA, GA (April 5, 2019) – Multifamily developer and investment firm Pollack Shores Real Estate Group today announced Olea at Nocatee, a 175-unit active adult apartment community located at 50 Pine Shadow Parkway in Ponte Vedra, Florida.

Olea at Nocatee marks the second project under Pollack Shores’ newly launched, age-targeted Olea brand, which provides residents with an active, flexible lifestyle and community events such as chef demonstrations, happy hours and multiple fitness classes each week. 

Construction will commence in April 2019, with first move-ins scheduled for July 2020.

Steven Shores

“Nocatee’s rapid growth and exceptional quality of life make it the ideal setting for our second addition to our Olea portfolio,” said Steven Shores, President and CEO of Pollack Shores. 

“There is clear demand for high-caliber active adult communities within Jacksonville, and our unique development will be tailored to the growing population of Class A renters moving to the area. 

"The Olea brand will continue to be a top focus for Pollack Shores as we expand in key markets across the Sun Belt.”

CONTACTS:

Emma Lynch · Account Coordinator
1718 Peachtree St., Suite 1048 · Atlanta, GA 30309
M: 770-826-8155

Nick Banaszak
The Wilbert Group
256-457-5384 (C)
For more information about Pollack Shores, please visit pollackshores.com/
For more information about Matrix Residential, please visit matrixresidential.com/.
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StackSource Closes $19.4 Million CMBS Loan; Expands Originations to 12 U.S. States


Tim Milazzo

New York, NY (April 5, 2019) --  PropTech startup StackSource today announced it closed a $19.4 million CMBS loan for two retail properties in Harrisburg, PA and Keene, NH, making it operational in twelve U.S. States.   



StackSource is disrupting the $3 trillion commercial mortgage market by offering commercial real estate owners across the country greater access and transparency in the financing process.  


Tim Milazzo, co-founder and CEO said, “StackSource offers real estate investors the opportunity to execute financing on their projects faster, and with more control over the process.

"Our platform not only simplifies and streamlines the process of securing a loan, but also gives the full support of a capital advisor no matter where the borrower or property are located.


"We’ve arranged financing for multifamily properties in the heart of New York City, retail in Missouri, and office in California.”


Justin Wolk
The $19.4 Million loan closed with Starwood Mortgage Capital, financing two retail properties:  The Shoppes at Susquehanna (Harrisburg, PA) and Center at Colony Mill (Keene, NH).

StackSource Capital Advisor Justin Wolk negotiated the transaction, successfully navigating a complex ground-lease negotiation that closed simultaneously.  The total transaction value exceeded $40MM.

“We worked with our lending partner to understand the complex ground lease dynamics and together, we were able to structure this transaction is a way that was effective, transparent and beneficial for all parties involved,” Wolk shared.

Wolk recently joined the StackSource team, following a successful career in real estate development. After developing 250,000 square feet in the Greater NYC area over the last decade and raising money for his own transactions, Wolk sold his company, Justinian Development, and moved into securing funding for real estate deals, which is now his full-time focus for StackSource.


Nathan Wall
Capital Advisors like Wolk benefit from the efficiency of the StackSource platform, which allows them to spend more time providing financing solutions for their clients and closing more deals.

“We simply have a technological advantage over 99% of the capital markets professionals because of StackSource, and it is StackSource’s platform coupled with the firm’s desire to hire experienced real estate professionals that truly allows us to make an immediate impact in the real estate investment banking world.” Wolk continued.

Where developers and lenders have traditionally relied on local mortgage brokers to facilitate connections and complete deals, StackSource’s new digital marketplace provides immediate lender matching, data system integration for instant diligence, and a platform to manage the underwriting process end-to-end - all from the comfort of a computer or mobile device.

Tom Wisniewski
“What makes StackSource unique is that we are a tech company first - not a real estate company trying to figure out tech,” said Nathan Wall, co-founder and CTO.  

“We’ve updated a process that is outdated, and didn’t truly bring transparency for any of its stakeholders.  StackSource makes it easier for our lending partners to access great projects - and it gives borrowers an opportunity to control the terms of their funding.”

StackSource allows potential borrowers to fill out one simple online loan request, compare loan offers from top lenders, and work with an experienced capital advisor to assist through the entire process, including negotiations with lenders.

Whereas a traditional commercial mortgage broker relies on a tight band of close lending relationships, StackSource’s platform instantly identifies potential lending partners for a given deal by searching through its database of hundreds of lending contacts, automatically filtered based on deal parameters such as the loan amount, asset class, geography, and loan scenario.

Transparency is at the heart of StackSource’s platform, as property owners can compare and analyze not only their loan quotes but also any associated fees. This includes taking StackSource’s placement fee into account, where fees with other mortgage brokers are more likely to be hidden.

Prior to founding StackSource, Milazzo spent time working for Facebook and both he and Wall previously worked for Google. 

The Shoppes at Susquehanna, Harrisburg, PA
The StackSource team recently completed the NVP Labs accelerator program in Newark, NJ and is now hiring regional market leaders to spearhead their entry into primary real estate markets across the country.

Tom Wisniewski, Managing Partner at Newark Venture Partners, a StackSource investor, said, “StackSource is simply commercial real estate lending for the 21st century.  StackSource gives parties at both ends of the loan data, options, and control levers that will get commercial real estate deals done faster.

CONTACT:

Jen Solomon 
Communications
Newark Venture Partners
516.680.8927
www.newark.vc

StackSource.com.

The Astor Companies Completes Transformative Merrick Manor Development in Coral Gables, FL

Sasha Ezquerra

CORAL GABLES, Fla. – Pioneering Miami developer The Astor Companies is setting a new standard for luxury, sophistication and lifestyle in the “City Beautiful” with the completion of Merrick Manor

The 10-story, mixed-use building with 227 residences and nearly 20,000 square feet of retail and restaurant space represents the only new, move-in ready condominium offering in Coral Gables.

Astor received a Temporary Certificate of Occupancy (TCO) from the city, paving the way for closings and resident move-ins to begin at the 301 Altara Ave. building – just steps away from the Shops at Merrick Park. 

Merrick Manor is the largest residential development delivered in Coral Gables in nearly a decade.

For Astor Founder, President and CEO Henry Torres, a Coral Gables resident and business owner, completing Merrick Manor is a culmination of his vision to redefine luxury living in the city he loves. 

Rendering of Completed Merrick Manor, 301 Altara Avenue,
Coral Gables, FL
The building blends timeless Mediterranean-style architecture with contemporary style, with the renowned Behar Font & Partners serving as Merrick Manor’s architect and award-winning Interiors by Steven G. designing and furnishing the building’s lobby, common areas and model residences.

Jaxi Builders is Merrick Manor’s general contractor.

“This is a special moment for our company, my family, the project team and everyone who supported Merrick Manor along the way,” Torres said. “No detail was spared in conceiving this project, which addresses the pent-up demand from a wide range of buyers for modern luxury residences located within walking distance to incredible shopping, dining and art galleries. 


Henry Torres
"I can’t wait to see our first residents move in and experience this unparalleled lifestyle.”

More than 65 percent of Merrick Manor’s residences are under contract, with prices for remaining units starting from $374,990 and ranging up to $2.6 million. Remaining units range from 574 square feet to more than 3,400 square feet.

 The one-to-four-bedroom residences feature exceptional finishes, including Italian cabinetry, Bosch appliances, white quartz countertops and spacious terraces.

The Agency Development Group is overseeing residential sales at Merrick Manor, led by Managing Director Sasha Ezquerra and Residential Sales Director Esther Prat.

Merrick Manor amenities include 24-hour valet parking, 24-hour front desk concierge service, lobby lounge area, Parcel Pending lockers, a business center with four computer-ready desks and multimedia screens for presentations, a club lounge and news café lounge on the fourth floor, state-of-the-art fitness center and resort-style pool with barbecue gathering areas.

In the event of a hurricane or major storm, Merrick Manor is equipped with unique storm-related features including emergency generators to fully power the ground-floor lobby and amenities floor and fully functional Wi-Fi in those areas. 

Esther Prat

Security features include a Coral Gables Police Department substation on the ground floor, 24-hour security, strategically placed security cameras and a covered and monitored parking garage.

Merrick Manor also offers nearly 20,000 square feet of prime, Class A ground-floor retail and restaurant space marketed by the Astor Real Estate Group, led by Principal Broker Roza H. Radkiewicz.

                              Roza Radkiewicz
For commercial and retail opportunities available at Merrick Manor, please contact Radkiewicz at (305) 779-5672 or (786) 218-8322 or email roza@astorcompanies.com.

To learn more about the residences, please visit www.merrick-manor.com or call the Merrick Manor Sales Gallery at (305) 779-6870.

Miami law firm Rennert Vogel Mandler & Rodriguez is handling Merrick Manor residential closings on behalf of Astor.

For more information, please visit the project Sales Gallery at 4200 Laguna Street, call (305) 779-6870 or email info@merrick-manor.com.

Contacts: 

BoardroomPR

Todd Templin: ttemplin@boardroompr.com, 954-370-8999
Eric Kalis: ekalis@boardroompr.com, 954-370-8999

For more information, please visit www.astorcompanies.com.

Thursday, April 4, 2019

Hold-Thyssen Brokers Multi-Year Lease For Acupuncture Practice at Phillips Place in Southwest Orlando, FL


Darby Hold

ORLANDO, Fla. --- Hold-Thyssen, a full service real estate services firm headquartered in Winter Park , recently negotiated a multi-year lease agreement with Avanti Acupuncture, P.A. at Phillips Place , 7575 Dr. Phillips Blvd. , in southwest Orlando .     

 Darby Hold, transaction specialist for Hold-Thyssen, Inc., who represented the landlord, Cincinnati, Ohio-based Financial Way Realty, Inc., said the Oriental medicine and wellness center renewed their lease of the 1,071 square foot office suite to continue providing their treatment of symptoms relating to a variety of conditions.  They are ranked as one of the top acupuncture practices in the Orlando area.   

In addition, Hold brokered a lease agreement for 348 square feet with permanent make up salon, About Face Ink, LLC at Phillips Place .
                                              
Phillips Place, 7575 Dr. Phillips Boulevard. Southwest Orlando, FL
                                                                                    
Hold-Thyssen, Inc., the leasing and management representative for the 56,000 square foot Phillips Place , provides commercial property brokerage, leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current management portfolio includes more that 100 commercial properties throughout the United States.


CONTACTS:
           
Anthony Fisher, Vice President, Hold-Thyssen Real Estate Services, 
407-691-0505, afisher@HoldThyssen.com

Robert P. Hold, Principal, Hold-Thyssen, Inc. 
407-691-0505, bhold@HoldThyssen.com

Beth Payan, Larry Vershel Communications Inc. 
407-644-4142 Lvershelco@aol.com

HFF closes sale of The Children’s Hospital of San Antonio Health Pavilion in San Antonio, TX

\
Maria Poyer

Evan Kovak
PHILADELPHIA, PA, April 3, 2019 – HFF announces it has closed the sale of The Children’s Hospital of San Antonio Health Pavilion, a brand new, 100-percent-leased, 57,250-square-foot, state-of-the-art and purpose-built medical office building located in the prestigious Stone Oak submarket of San Antonio, Texas.

HFF marketed the asset on behalf of the seller, Seavest Healthcare Properties, LLC, and procured the buyer, Harrison Street.

The Children’s Hospital of San Antonio Health Pavilion is located at 1434 East Sonterra Boulevard adjacent to the 242-bed Methodist Stone Oak Hospital and near the 362-bed North Central Baptist Hospital. 

 The medical office building has visibility from U.S. Highway 281, which boasts traffic counts of more than 100,000 vehicles per day, and is in the Stone Oak submarket of San Antonio, an affluent area that is anticipated to see five-year population growth of 9.2 percent, nearly three times the national average.

The Children’s Hospital of San Antonio Health Pavilion. 1434 East Sonterra Boulevard, adjacent to the 242-bed Methodist Stone Oak Hospital and near the 362-bed North Central Baptist Hospital in the Stone Oak submarket of San Antonio, TX

Ben Appel
 The property is anchored by CHRISTUS Santa Rosa Health System, a wholly-owned sub-network of CHRISTUS Health (Moody’s A1), which occupies 83 percent of the square footage. 

A pediatrics-focused outpatient facility, the property opened in 2018 and houses a Tier 1 freestanding children’s emergency center and urgent care, the first of its kind in northern San Antonio.

 The property also features a variety of complementary pediatrics focused services, including primary care, imaging, lab, outpatient treatment facilities and KidSTOP.

Andrew Milne
The HFF investment advisory team representing the seller included managing directors Evan Kovac and Ben Appel, director Andrew Milne, associate Matt DiCesare and analyst Maria Poyer of HFF’s national medical office capital markets team, along with the local team led by managing director John Taylor.  John Chun, a member of HFF’s medical office capital markets team, provided debt and structured finance expertise.

“The ChoSA Health Pavilion is an innovative and best-in-class children’s medical facility,” Milne said.  “The process generated significant investor demand primarily driven by the core nature of the property, tenancy and location.”

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

About Harrison Street

Harrison Street is one of the leading real estate investment management firms exclusively focused on the education, healthcare and storage sectors. 


John Taylor
The firm has created a series of differentiated investment strategies across multiple risk/return platforms.  Headquartered in Chicago, the firm employs a 140-person team with approximately $18 billion in assets under management. 

 For more information, please visit harrisonst.com.

About Seavest Healthcare Properties

Seavest Healthcare Properties, LLC is a real estate investment manager focused on the medical office and outpatient facility sector. 

The firm acquires existing properties, joint ventures with established developers to build new properties, and asset manages medical office buildings, outpatient facilities and similar healthcare real estate assets. 
A pioneer in this sector, Seavest made its first healthcare real estate investment in the mid-1980s. 

John Chun
Today, the firm has a significant portfolio of medical office and outpatient properties located throughout the United States. 

For more information, please visit SeavestHCP.com.   


CONTACTS:

BEN APPEL
HFF Managing Director
(215) 872-9903

EVAN KOVAC
HFF Managing Director
(
858) 812-2365



JOHN TAYLOR
TX Lic. #466052
HFF Managing Director
(210660-2104

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

Wednesday, April 3, 2019

Mack-Cali Realty Sells 3.1 Million Commercial and Residential Real Estate Portfolio for $487.5 Million



Michael J. DeMarco

JERSEY CITY, NJ, April 3, 2019 /PRNewswire/ -- Mack-Cali Realty Corporation (NYSE: CLI), a waterfront centric office and residential property owner, announced that it has executed the sale of its 3.1 million square foot office/flex portfolio. 

The aggregate sales price for the portfolio was $487.5 million.  A portion of the proceeds from the sale was used to repay $210 million of unsecured debt at the end of the first quarter. 

As part of the sales consideration, the purchaser redeemed 301,638 of its common Operating Partnership units, which were valued at $6.6 million.  

Inclusive of proceeds from the sale of the Elmsford Distribution Center portfolio on December 31, 2018, the Company has retired $280 million of unsecured debt from sales of flex portfolios.

Michael J. DeMarco, Chief Executive Officer, stated, "The sale of our office/flex portfolio is an important part of our strategic repositioning and our evolution to a waterfront centric office and residential landlord. 

 Proceeds from the sale of this portfolio were used in part to pay down debt and in part for the recent purchase of Soho Lofts, a 377-unit apartment community in Jersey City, which furthers our waterfront strategy."
.
For more information on Mack-Cali Realty Corporation and its properties, please visit www.mack-cali.com.
   
CONTACTS:

Michael J. DeMarco
Mack-Cali Realty Corporation
Chief Executive Officer
(732) 590-1589
mdemarco@mack-cali.com


Deidre Crockett
Mack-Cali Realty Corporation
Senior Vice President,
Corporate Communications
and Investor Relations
(732) 590-1025
dcrockett@mack-cali.com

Seyfarth Represents Mack-Cali Realty in $487.5 Million Sale of Office/Flex Portfolio


Brooks Marro
NEW YORK, NY (April 3, 2019) - Seyfarth Shaw LLP represented Mack-Cali Realty Corporation, a waterfront centric office and residential property owner, in the $487.5 sale of its 56-building, 3.1 million square foot office/flex portfolio.

Miles Borden
A portion of the proceeds from the sale was used to repay $210 million of unsecured debt at the end of the first quarter.

 As part of the sales consideration, the purchaser redeemed 301,638 of its common Operating Partnership units, which were valued at $6.6 million.

John P. Napoli
Inclusive of proceeds from the sale of the Elmsford Distribution Center portfolio on December 31, 2018, the Company has retired $280 million of unsecured debt from sales of flex portfolios.

One of the country's leading Real Estate Investment Trusts (REITs), Mack-Cali Realty Corporation is an owner, manager and developer of premier office and multifamily properties in select waterfront and transit-oriented markets throughout the Northeast.

Michael
Rosenthal
 A fully-integrated and self-managed company, Mack-Cali has provided world-class management, leasing, and development services throughout New Jersey and the surrounding region for two decades.The Seyfarth team was led by Real Estate partner Miles Borden and Corporate partner John Napoli in New York.
The team also included Real Estate counsel Brooks Marro (Atlanta), Corporate/Tax counsels Steven Crainer (New York) and Michael Rosenthal (New York), and Real Estate associate Evan Gordon (New York).
For more information on Mack-Cali Realty Corporation and its properties, please visit www.mack-cali.com.

CONTACT:

John Garger