HFF closes $19.25 million sale of multi-housing development site in Downtown Doral, FL

Ana Maria Codina Barlick

MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the $19.25 million sale of a four-acre multi-housing development site in Downtown Doral, a 250-acre mixed-use community in Doral, Florida.

HFF represented the seller and master developer of Downtown Doral, Codina Partners, in the sale of the parcel to Greystar. 

 The HFF investment advisory team representing Codina Partners included executive managing director Manuel de Zárraga, managing director Jaret Turkell, senior director Maurice Habif and director Simon Banke. 

Manny de Zarraga

HFF has closed several sales within Downtown Doral, including land sites set for an assisted living facility and an active adult residential development.

“Greystar is a world-class institution and we are pleased that they are developing a second project in Downtown Doral, as well as managing our new multi-family tower, 5250 Park,” said Ana-Marie Codina Barlick, CEO of Codina Partners.  “Thank you to HFF for their help with this transaction.”

Downtown Doral is located off of NW 87^th Avenue and NW 53^rd Street and comprises approximately 70 shops and restaurants; a business district with almost one million square feet of Class A office space;

5,000 luxurious residential units, including 5350 Park condo tower, 5250 Park distinctive apartments, and Canarias single-family and townhomes in The Residences at Downtown Doral;

Jaret Turkell

Downtown Doral Charter Elementary School, a top-rated, bilingual charter elementary school; Downtown Doral Charter Upper School, a 6^th through 12th grade charter school that is currently under construction; Doral Government Center, a LEED-certified city hall; and public green spaces adorned with world-class art pieces.

Greystar’s planned multi-housing project, designed by MSA Architects, will feature 385 luxury apartments in a six and eight story building. 

The amenities will include a rooftop sky lounge amenity deck, club lounge, expansive fitness center, two swimming pools, and multiple courtyards with a park and yoga deck.  The site is positioned on the south side of the Downtown Doral master plan along 41^st Street and 87^th Avenue.

Maurice Habif

“We are excited to be part of the Codina vision for this premier mixed-use development project,” said Lewis Stoneburner, managing director of Greystar’s Florida development business.  “We also feel privileged to be doing business with such an incredible group of people at both the Codina organization and HFF.”

About Downtown Doral

Downtown Doral is Miami’s premier town center, a vibrant community of culture and commerce, located at the heart of access to almost everywhere.  

Neighborhoods, offices, homes, an award-winning school, restaurants and shops that offer a new quality of life—totally walkable, connected, artfully designed, green and gracious.  

The 250-acre mixed-use development features approximately 70 shops and restaurants; a bustling business district with almost one million square feet of Class A office space; 5,000 luxurious residential units, including 5350 Park condo tower and Canarias in The Residences at Downtown Doral;

Simon Banke

 Downtown Doral Charter Elementary School, a top-rated bilingual charter elementary school; Downtown Doral Charter Upper School;

 Doral Government Center, a LEED-certified city hall; and public green spaces adorned with world-class art pieces. 

 Learn more at www.downtowndoral.com or follow @DowntownDoral on Facebook and Twitter and @DowntownDoralLife on Instagram.

To learn about Codina Partner’s integrated services, please visit 

www.codina.com or call 305-529-1300.

To learn more, please visit

www.greystar.com.

CONTACTS:

JARET TURKELL

FL Lic. #BK3114894

HFF Managing Director

(305) 448-1333

jturkell@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3403

ohennessey@hfflp.com

AMANDA GASSET

Codina Partners Marketing Assistant

(305) 569-2202

agasset@codina.com

The Apartments at Lincoln Common in Chicago Announce Official Move-ins

Rendering of Apartments at Lincoln Common,
 2345 North Lincoln Avenue, Chicago, IL

CHICAGO, IL – The Apartments at Lincoln Common, newly constructed at 2345 N. Lincoln Avenue, Chicago, had its first residents move in on Monday, April 1, 2019.

 Located at the new crossroads of Lincoln Park at the intersection of Lincoln Avenue, Fullerton Avenue and Halsted Street, The Apartments at Lincoln Common offer 538 studio, one-, two- and three-bedroom rental residences and penthouses across two separate towers designed by Skidmore, Owings and Merrill in partnership with Antunovich Associates. 

More than 200 tours have been conducted of The Apartments at Lincoln Common since leasing began in February.

“We are thrilled to welcome our first residents to The Apartments at Lincoln Common,” said Carly Stevenson, McCaffery Senior Director of Residential Management. “These amazing amenity-packed towers combined with this dynamic neighborhood will provide an unparalleled living experience in the heart of Chicago.”

 For more information, please visit 

www.lincolncommon.com and LincolnCommonApts.com or call 

(312) 466-9095

 Follow Lincoln Common on Facebook, Twitter and Instagram for updates.

CONTACT:

Megan Gasper, 

Senior Publicist

Heron Agency

1528 W. Fullerton Avenue

Chicago, IL 60614

773.969.5208

www.heronagency.com

PR News Agency Elite Award Winner

megan@heronagency.com

HFF announces sale of Marriott Courtyard hotel on the Big Island in Hawaii

Courtyard by Marriott King Kamehameha's Kona Beach Hotel, a 452-room, full-service beachfront hotel, 75-5660 Palani Road in the heart of Kona’s cultural center in Kailua-Kona
 on Hawaii’s Big Island

SAN DIEGO, CA -– Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the sale of Courtyard by Marriott King Kamehameha's Kona Beach Hotel, a 452-room, full-service beachfront hotel in Kailua-Kona on Hawaii’s Big Island.

Scott Hall

The HFF team marketed the property on behalf of the seller, Pacifica Hotels.

Courtyard by Marriott King Kamehameha's Kona Beach Hotel was extensively renovated and converted to one of the most unique Marriott Courtyard hotels in the world in 2011.

  The hotel comprises two connected six-story towers that feature more than 20,000 square feet of flexible indoor and outdoor meeting space; 

• 
  
• more than 18,000 square feet of retail, including a full-service spa; state-of-the-art fitness facility; 
• 
  
• yoga studio; 24-hour business center; outdoor pool and patio; tennis courts; 
• 
  
• and five food and beverage outlets, including Honu’s on the Beach Restaurant, Billfish Poolside Bar & Grill and The Island Breeze Hawaiian Lu’au.

Tony Malk

The hotel is situated on 13 acres of pristine beachfront land on Kailua Bay at 75-5660 Palani Road in the heart of Kona’s cultural center. 

The hotel has direct access to the Kailua Pier, Kona’s primary point of onboarding and disembarking for cruise ships, sportfishing, scuba diving and snorkeling. 

The hotel and pier are also “ground zero” for the world-famous Ironman World Championships. 

 Additionally, Courtyard by Marriott King Kamehameha's Kona Beach Hotel is within walking distance to downtown Kona, Kahaluu Beach Park and Kailua Village via Ali’i Drive or, as it is colloquially known in Hawaii, the “Royal Footsteps along the Kona Coast.”

Tracey Goo

The HFF investment advisory team that arranged the transaction consisted of senior managing director Scott Hall, managing director Tony Malk, director Tracey Goo and analysts Aaron Lapping and Blake Malecha.

“The King Kamehameha resort is a special place with a famed history,” Hall said.  “Pacifica Hotels had a creative long-term vision for the asset and executed their business plan in a remarkable manner. 

Aaron Lapping

"The buyer understands the dynamic fundamentals of the Big Island, the uniqueness of the hotel and the continued upside that will be realized through this investment.”

About Pacifica Hotels

Pacifica Hotels was formed in January of 1993 to consolidate the hospitality operations of Invest West Financial Corporation, which has been involved in the acquisition, development, refurbishing and operating of quality hotel properties and other commercial real estate properties for almost 30 years. 

 Today, Pacifica Hotels is the largest owner and operator of boutique hotels on the Pacific coast.  Pacifica Hotels’ 40 independent and flagged properties in key California cities from San Diego to San Francisco, as well as Hawaii and Florida, feature outstanding locations, AAA 3 and 4-Diamond ratings, upgraded amenities and high standards of guest service. 

 For complete hotel descriptions and reservations, please visit
 www.pacificahotels.com.

CONTACTS:

SCOTT HALL

HFF Senior Managing Director  

(858) 552-7690

shall@hfflp.com

TONY MALK

HFF Managing Director

(310) 407-2100

tmalk@hfflp.com

TRACEY GOO

HI. Lic. #RB-22254

HFF Director    

(310) 407-2100

tgoo@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

Ware Malcomb Announces Douglas Gullo Joins Firm as Studio Manager, Architecture in Phoenix, AZ

Douglas Gullo

PHOENIX, AZ – Ware Malcomb, an award-winning international design firm, today announced Douglas Gullo has joined the Phoenix office as Studio Manager, Architecture.

In this role, Gullo will oversee the Architecture Studio and manage select projects for Ware Malcomb’s Phoenix office.

“We are excited to have someone of Douglas’ tremendous expertise and talent join our team,” said Kevin Evernham, Principal of Ware Malcomb’s Phoenix office.

“His design excellence in commercial real estate will help expand the reach of our Architecture team, and enable us to further serve our clients.”

Gullo brings more than 25 years of architecture and business development experience to Ware Malcomb. He has worked on many notable Greater Phoenix-area projects including office, retail, industrial, medical office buildings, and resort and entertainment.

Kevin Evernham

Utilizing his architectural design and project management skills, Gullo manages the design process from initial concept and ideas through successful project completion.

Gullo holds a Bachelor’s degree in Architecture from the University of Arizona and is the design author on many award winning office, retail, industrial and medical buildings in the Greater Phoenix market.

Ware Malcomb recently moved to a new, larger office space located at 2777 E. Camelback Rd, Suite 325 in Phoenix. The move accommodates the firm’s growing employee and client base in the region. 

  

CONTACTS:

Rachel Reenders

VP Public Relations, KCOMM for Ware Malcomb

rachel@kcomm.com

Kelly Teenor, Director, Marketing, 949.660.9128, kteenor@waremalcomb.com

Maureen Bissonnette, Associate Principal, Marketing, 949.660.9128, mbissonnette@waremalcomb.com

For more information, please visit waremalcomb.com/news and view Ware Malcomb’s Design video at youtube.com/waremalcomb.

 waremalcomb.com

Ware Malcomb Phoenix

2777 E. Camelback Rd, Suite 325

Phoenix, AZ 85016

p. 480.767.1001

Arbor Funds $5.3 Million Bridge Loan in Oak Forest, IL

Ryan Duff

                                  

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a bridge loan in Oak Forest, IL.

reVerb Oak Forest, a 72-unit multifamily property, received $5.3M in funding through the program.

Ryan Duff of Arbor’s New York City office originated the loan.

“Facilitated by our agility and expertise, Arbor was able to step in mid process, due to an outside lender retrade, and close quickly with no lockout on the prepayment,” Duff said.

reVerb Oak Forest, Oak Forest, IL

 “We were committed to finding a solution for the borrower, a repeat customer, who intends to settle into management, take over operations and immediately begin the refinance process into a long-term fixed-rate product.”

  

Built in 1969 and renovated in 2008, reVerb Oak Forest residences offer in-unit washer/dryer, granite countertops, laminate wood flooring and private balconies.

Community amenities include a landscaped courtyard with a gazebo, on-site parking and a security surveillance system. The property is in close distance to the Cook County Forest Preserve, George W. Dunne National Golf Center and Rock Island District Metra Line.

  

Arbor Funds $29.5 Million Fannie Mae® SRL Loan in Dallas, TX

Alexan Riveredge, Dallas, TX

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae® Streamlined Rate Lock (SRL) loan in Dallas, TX.

Alexan Riveredge, a 309-unit multifamily property, received $29.5M in acquisition funding through the program. The loan features a 10-year, interest only, fixed-rate term.

Greg Gillam of Arbor’s Manhattan Beach office originated the loan.

Greg Gillam

“The time to close this purchase was extremely short as the borrower was selected from a competitive pool of potential buyers based on his projection of a smooth and expeditious closing process,” Gillam said.

“Thanks to Arbor’s all-encompassing product platform, we were able to utilize the Fannie Mae Streamlined Rate Lock, which allowed the borrower to lock at a favorable rate and close quickly for this purchase.”

  

Built in 2016, Alexan Riveredge is a luxury building that features a subsurface parking garage, resort-style swimming pool, rooftop lounge area, fitness center, adjoining jogging trail, dog park, clubhouse, business center, and game room. In-unit amenities include walk-in closets, washer/dryer machines, granite countertops, garden tubs, and patios/balconies in select units.

CONTACT:

Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

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

www.thewilbertgroup.com

Nick Banaszak

The Wilbert Group

256-457-5384 (C)

nickbanaszak@thewilbertgroup.com

For more information about Pollack Shores, please visit pollackshores.com/. 

For more information about Matrix Residential, please visit matrixresidential.com/.

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.