Trez Forman Capital Closes $17.71 Million Transaction for Portfolio of More Than 10 Developments

Trez Forman

PALM BEACH, FL -- Trez Forman Capital has completed a $17.71 million transaction that provides third and fourth mortgage financing to a portfolio of more than 10 residential developments in Florida, Louisiana and North Carolina.

All but one of the projects are completely pre-sold to major homebuilder DR Horton.

The transaction was structured as a multi-tranche blanket mortgage. Trez Forman had first mortgages on each of the existing projects before the latest deal.

Waterside, Surf City, NC

In all, the financing covers 1,615 acres, land for 4,237 single-family lots, 400 apartments and two commercial properties.

Trez Forman President and CEO Brett D. Forman arranged the loan.

The new financing is to be used to buy out a partner, supply working capital for the borrower and provide equity for future projects.

Development sites in the portfolio include:

·         Waterside, a master-planned community in Surf City near Wilmington, N.C.

·         Collins Ridge, a large-scale community with plans for 880 residential units in Hillsborough, N.C.

·         Evergreen, a Bradenton, Fla. site entitled for the development of 417 single-family homes

·         Solera, a 279-acre community approved for 675 single-family homes also in Bradenton, FL.

Collins Ridge, NC

“This transaction underscores our nimble and creative approach,” Forman said. “Trez Forman is committed to relationship lending, so working with our borrower is important to us.

"We are bullish about the developments secured by this transaction, as evidenced by our prior role as first mortgage lender for each project.”

Trez Forman provides commercial bridge loans for development and construction and senior stretch financing, starting at about $5 million. It also offers private and institutional investors equity investment opportunities in a variety of funds and assets.

                                                                      

About Trez Forman Capital

Founded in 2016, Trez Forman Capital is a Florida-based commercial bridge lender for development and construction, senior stretch first mortgages and special situations nationwide.

Evergreen Development, Bradenton, FL

It provides developers and property owners with quick approvals on flexible short to mid-term financing from $5M to $75M. The company also offers private and institutional investors equity investment opportunities in a variety of funds and assets.

Trez Forman is a joint venture between Palm Beach-based Forman Capital and Trez Capital Group, one of Canada’s largest private commercial mortgage lenders with approximately $3 billion in committed capital. 

Trez Capital has originated approximately $10 billion in loans since its inception.

CONTACT:

Eric Kalis

Vice President, BoardroomPR

ekalis@boardroompr.com

O 954-370-8999

C 305-794-5123

www.trezforman.com.

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

HFF announces sale of fully leased gym-anchored retail center in suburban San Antonio, TX

Bandera Trails Retail Center, Helotes, TX

Aaron Johnson

DALLAS, TX –– HFF announces that it has closed the sale of Bandera Trails, a 60,748-square-foot, fully leased retail center anchored by Gold’s Gym in the northwestern San Antonio community of Helotes, Texas.

 HFF marketed the property for the seller, San Antonio BT Acquisition, LLC.  Nooner Holdings purchased the asset. 

 Bandera Trails is 100% leased to three internet-resistant tenants, Gold’s Gym, Bandera Salon and Physician Prime Care Management. 

 Situated on 6.11 acres at 11820 Bandera Road, the property is located at the intersection of Bandera Road and East Charles William Anderson Loop, one of suburban San Antonio’s most trafficked intersections with more than 144,000 vehicles per day. 

John Taylor

 The center is in Helotes, one of San Antonio’s most affluent suburbs.  Within a three-mile radius of Bandera Trails are more than 33,707 households with an average annual household income of $102,936, and more than 80,342 residents are within a five-mile radius. 

Additionally, the center is proximate to four military bases.

 HFF’s investment advisory team representing the seller included director Aaron Johnson and managing director John Taylor.  

Eric Lehman of San Antonio-based Lehman Real Estate represented the buyer.

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

Eric Lehman

About Nooner Holdings

Nooner Holdings is operated by Sean Nooner, who sold a chain of local convenience stores, and owns several other retail centers in and around San Antonio and one of San Antonio's largest solar panel portfolios.

About HFF

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.

Sean Nooner

CONTACTS:

AARON JOHNSON

TX Lic. #560492

HFF Director

(214) 265-0880

ajohnson@hfflp.com

JOHN TAYLOR

TX Lic. #466052

HFF Managing Director

(210) 660-2104

jtaylor@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

Hospitality Ventures Management Group (HVMG) Sells DoubleTree Suites by Hilton Nashville Airport

The 138-suite DoubleTree Suites by Hilton Nashville Airport
Nashville, TN

  

NASHVILLE, TN and ATLANTA, GA -- Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, has announced it has divested ownership of the 138-suite DoubleTree Suites by Hilton Nashville Airport to a joint venture comprised of Wexford Lodging Advisors, a leading hotel asset management and investment firm, and Trinity Private Equity Group, one of the nation’s top alternative asset management firms.

Robert S. Cole

  HVMG will retain management of the hotel and oversee a scheduled $2.5 million renovation.

            “Having owned the property since 2003, HVMG knows both the property and the Nashville market intimately and will use this knowledge to continue steering the DoubleTree Suites by Hilton Nashville Airport as a market share leader,” said Robert Cole, president & CEO, HVMG. 

“The property has more than met our investment objectives, and we are excited to sell the property to a strategic partner, as well as retain management.  The sale allows us to redeploy capital into new projects. 

"Following the completion of the  renovation, the hotel will further cement its position as the leading choice for upper upscale accommodations in Nashville.”

Grand Ole Opry, Nashville, TN

                Situated at 2424 Atrium Way in Nashville just two miles from Nashville International Airport, the DoubleTree Suites by Hilton Nashville Airport is near such local attractions as the Grand Ole Opry, Ryman Auditorium, and the Country Music Hall of Fame. 

Hotel amenities include 24/7 complimentary shuttle service to and from the airport, business center, fitness room, swimming pool and 2,600 square feet of meeting space. 

           

Guest rooms provide luxurious bedding, a spacious work area, two 32-inch flat-screen TVs and complimentary Wi-Fi.  Guests are invited to dine at Harmony Kitchen and Bar, serving all-American breakfast, lunch and dinner options in a relaxed, Nashville setting. 

Country Music Hall of Fame, Nashville, TN

 Guests also may opt for in-room dining or stop by the 24/7 Pavilion Pantry Market for sandwiches and snacks.  Additionally, all guests receive a complimentary, chocolate chip cookie upon check-in.

           

The renovation will cover public spaces and guestroom improvements.  The hotel’s meeting space will be expanded and upgraded.  Also, the pool and courtyard area will be improved, and guest rooms will be upgraded, as well.

About Hospitality Ventures Management Group

Hospitality Ventures Management Group is a privately owned, fully integrated hotel investment and management group that specializes in turning around and repositioning underperforming hotels, as well as maximizing the performance of stabilized hotels. 

Ryman Auditorium, Nashville, TN

 It currently operates 44 hotels and Convention Center in 17 states totaling 7,496 guest rooms. HVMG operates independent and boutique hotels and resorts, as well as full-service, select-service and extended-stay hotels under the Hard Rock, Hilton, Hyatt, Marriott, and IHG brands. 

Contact:

Chris Daly

Daly Gray, Inc.

703-435-6293

chris@dalygray.com

www.hvmg.com 

Ackerman Medical Brokers Sale of 3 Medical Office Buildings in North Atlanta for $5.26 Million

Kris Redding

ATLANTA, GA – Ackerman Medical, a division of Ackerman & Co., represented Academy Orthopedics in the sale of its three-building, 25,643-square-foot medical-office portfolio located in Buford and Cumming, Ga., in north metro Atlanta.

 Nevada-based Stable Development Company purchased the properties for $5.26 million.

Ackerman Medical’s Kris Redding and Andrew Murphy of Highgate Partners represented ownership in the transaction and Beau Terrell of Highgate Partners represented the buyer.

Currently 90% occupied, the portfolio is approximately 50% leased to Academy Orthopedics, with Northside Hospital Imaging, Select Physical Therapy and Benchmark Therapy rounding out the tenant roster.

Andrew Murphy

“This portfolio offers the buyer a strong tenant mix with exceptional credit and steady cash flows thanks to the nearly five-year average remaining lease terms,” said Redding.

 “The tremendous residential growth taking place in these two micro markets will also help drive future demand for the medical services provided at these three medical facilities.”

The portfolio is comprised of 318 Tribble Gap Road in Cumming, Ga., a 14,643-square-foot, two-story building built in 1995; and 3919 & 3929 Carter Road in Buford, Ga., two single-story buildings built in 2006.

Beau Terrell

About Ackerman & Co.

Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast.

The company, founded in 1967, retains an expert team of more than 100 real estate professionals. 

To date, Ackerman & Co. has developed and acquired more than 37 million square feet of office, medical, industrial, retail and mixed-use space, has nearly 8 million square feet under management and maintains an investment portfolio valued at $1 billion.

Since 2000, Ackerman Medical has developed and owned nearly 2 million square feet of medical office space across metro Atlanta. As a leading owner and developer of medical office buildings, Ackerman Medical manages its properties to the highest institutional standards.

CONTACT:

Steve Webb Marketing Research Coordinator P: 678.993.2935     F: 770.913.3966 …………………………………………………………………………………………. Ackerman & Co. 10 Glenlake Parkway, South Tower, Suite 1000 Atlanta, Georgia 30328 www.ackermanco.com

Feldman Equities LLC Announces Completion of Park Tower Renovation and Significant Occupancy Achievement in Tampa, FL

Park Tower Office Building, Downtown Tampa, FL

TAMPA, FL ——Feldman Equities LLC (“Feldman Equities” or the “Company”)  announced the completion of the extensive multi-million dollar renovation at Park Tower property in downtown Tampa. 

Larry Feldman

 The value-add program executed since the acquisition of the property has generated significant increases in building occupancy and cash flow. 

 Including signed leases not yet in occupancy, the building is 94% leased, its highest occupancy in over a decade.

The renovation of Park Tower was instrumental in bringing over 22 new firms to the building, 15 of which are new to downtown Tampa.

“The use of glass and light combined with a stellar amenities package succeeded in repositioning this prominent historic structure as one of the most notable and exciting buildings on Tampa’s skyline,” stated Larry Feldman, Chief Executive Officer of Feldman Equities. 

“Park Tower’s owners investing millions in renovating the city’s original high-rise is just further proof of Tampa’s renaissance,” said Mayor Bob Buckhorn.

Tampa, FL Mayor Bob Buckhorn

 “Investments like these do not happen every day but what we’re seeing across the city is that not only can we redefine our skyline with new structures but also we can reimagine it with the existing ones.

"I look forward to admiring this renovation for years to come.”

In November 2016, a joint venture partnership consisting of City Office REIT, Inc., Feldman Equities and Tower Realty Partners acquired Park Tower for $79.8 million. 

Since that time, 170,000 square feet of new and renewal leases have been signed, bringing occupancy up from a low of 80% to 94% today. 

 “The renovation and tenant suite upgrades have completely transformed the building and prospective tenants are responding with high interest,” said Larry Feldman.

                                                                   

The most dramatic change at Park Tower is the modernization of the 471,000 square foot office building’s façade. 

 In addition to painting the exterior a lighter color, a new and dramatic entrance features a ‘Light Box’ leading into a stunningly renovated lobby, complete with a new Buddy Brew Coffee café. 

“We love everything about this location and partnership,” said co-owner and CEO of Buddy Brew Coffee, Dave Ward.  The new café’s attractive layout and design features a cosmopolitan aesthetic and high-end furnishings to match Park Tower’s modernization.

Dave and wife Susan Ward, co-owners, Buddy Brew Coffee
Tampa, FL

The renovation, designed by internationally-renowned architect Gensler, takes full advantage of Park Tower’s location across from the Tampa Riverwalk.

The removal of the concrete knee wall, the installation of glass storefronts with bright lighting and new exterior lighting have made the building much more inviting at the streetscape level. 

 On the interior, high-quality additions and improvements to common spaces and amenities have been made, including:

·         All new fitness center and yoga room with spin bikes

·         The all new Buddy Brew Coffee café

·         6th floor “Chill Zone” tenant lounge

·         Shared tenant conference room

·         New lobby concierge desk

·         Renovated parking garage with new LED lighting

Contact:

Mack Feldman

813-221-6699

mfeldman@feldmanequities.com

www.parktowertampa.com

www.towerrealtypartners.com

www.feldmanequities.com

www.cityofficereit.com

AEI Consultants Hires Randy Ward as Vice President Agency Services Walnut Creek, CA

Randy Ward

            Walnut Creek, CA -- AEI Consultants, a leading commercial real estate assessment and consulting firm, has announced that industry veteran Randy Ward has joined the firm as Vice President of Agency Services, coinciding with the increased demand for assessment and consulting services by Government Sponsored Enterprises (GSE) lenders such as Fannie Mae and Freddie Mac.

            “Randy Ward's expertise and skill set is perfectly aligned with our culture and strategy here at AEI,” says Paul Hinkston, Chief Operations Officer at AEI. 

Paul Hinkston

“We focus on providing our clients with the best consulting and service through the support of a motivated and talented team. With his extensive experience, Randy is a natural leader for our Agency Services group, and we are excited about the opportunity he brings to AEI and our customers.”

            Ward, a 30-year industry veteran, says: "AEI's commitment to a values-based culture, best-in-class service, and having the deepest bench in the industry provides tremendous opportunities for steady growth for our firm in the years ahead. I am pleased to join this strong and capable team."

            As Vice President of Agency Services, Ward will drive engagement and oversee a team of professionals who respond to agency lender requests for commercial real estate consulting services. 

 CONTACT:

Lisa James ·  Account Executive 
O 949 438 6262

Brower Group, Inc. The Smart Agency^® for Smart Clients who want Smart Work 
220 Newport Center Drive, Suite 22 · Newport Beach, CA 92660

Email · Website · Facebook · Twitter · Instagram

www.aeiconsultants.com.

HFF arranges $400.6 million acquisition financing for 56-building industrial portfolio in Westchester County, NY and Fairfield County, CT

Jackie Ferrer

Mike Tepedino

NEW YORK, NY, April 12, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged $400.6 million in acquisition financing for a 56-building light industrial portfolio totaling approximately 3.1 million square feet in Westchester County, New York, and Fairfield County, Connecticut.

HFF worked on behalf of the borrower, a joint venture partnership managed by Robert Martin Company, to place the floating-rate loan with Bank of America. 

The portfolio comprises three light industrial parks in Westchester County, including Cross Westchester Executive Park (CWEP), Mid-Westchester Executive Park (MWEP) and South Westchester Executive Park (SWEP), along with Stamford Executive Park (SEP) in Connecticut. 

Peter Lotchford

 The properties are positioned in the New York metro area with convenient access to major roadways, including Interstates 287 and 95, and the Saw Mill and Sprain Brook Parkways.

  Over the last 20 years, the portfolio has maintained consistent occupancy of over 90%, demonstrating the robust demand for light industrial space in the market. 

The portfolio will continue to benefit from increased industrial demand in markets that have notoriously difficult entitlement processes and extreme scarcities of developable land, limiting new supply.

The HFF debt placement team representing the borrower was led by executive managing director Mike Tepedino, senior director Peter Rotchford, director Scott Findlay and senior associate Jackie Ferrer.

“We were privileged to assist Robert Martin Company in the financing of its acquisition of these assets, which represent some of the best located industrial assets in Westchester and Fairfield Counties,” Tepedino said.

Scott Findlay

About Robert Martin Company, LLC

Headquartered in Elmsford, New York, Robert Martin Company, LLC (RMC) has been a leader in real estate investment, development and management for over 60 years.

Over the course of its distinguished history, RMC and its affiliates have developed and acquired over 20 million square feet of real estate across virtually every asset class.

CONTACTS:

MIKE TEPEDINO

NY Lic. #30TE0809731

HFF Senior Managing Director

(212) 245-2425

mtepedino@hfflp.com

PETER ROTCHFORD

NY Lic. #10401237887

HFF Senior Director

(212) 245-2425

protchford@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com