HFFS advises on $1.25 billion sale of 55-building national medical office portfolio

Steve Hentschel

NEW YORK, NY –– HFF Securities, L.P. (HFFS) and Holliday Fenoglio Fowler, L.P. (HFF) announced today that they have advised CNL Healthcare Properties, Inc. on its $1.25 billion sale to Welltower Inc. of a Class A medical office portfolio totaling 55 buildings across 16 states.

HFFS was engaged in 2018 to act as a strategic financial advisor in exploring and executing potential liquidity alternatives for CNL Healthcare Properties.

The medical office portfolio comprises approximately 3.3 million square feet across 16 states, positioned in strategic locations within major metropolitan markets.

The facilities are affiliated with some of the nation’s premier health systems, including Novant, Memorial Hermann and Cleveland Clinic. 

Ted Flagg

In April, HFFS advised on the sale of four Inpatient Rehabilitation Facilities (IRFs) for a total of $94 million, also on behalf of CNL Healthcare Properties Inc.  Global Medical REIT Inc. was the buyer.

The HFFS team representing CNL was led by senior managing directors Steve Hentschel and Ted Flagg as well as members of HFF’s national medical office capital markets team, including managing directors Evan Kovac and Ben Appel and directors Andrew Milne, Zach Drozda and Anthony Frogameni.

“This is the second largest medical office portfolio sale to ever transact based on total dollar volume,” said Milne.  “The high-quality portfolio primarily consists of properties positioned in major markets and on campuses of leading U.S. healthcare systems.”

Evan Kovac

“The CNL engagement demonstrates the broad strength of HFF’s platform across REIT investment banking and medical office/seniors housing capital markets advisory platforms,” added Flagg.  “We are proud to bring this all together with a great client such as CNL.”

About CNL Healthcare Properties 

CNL Healthcare Properties, Inc., is a real estate investment trust (REIT) that focuses on investing in institutional quality properties in the seniors housing and healthcare sectors, including stabilized, value-add and ground-up development assets, as well as other income-producing properties, real-estate related securities and loans. 

 CNL Financial Group, LLC is the sponsor of CNL Healthcare Properties. 

Ben Appel

 For more information, please visit http://www.cnlhealthcareproperties.com.

About CNL Financial Group 

CNL Financial Group (CNL) is a private investment management firm providing real estate and alternative investments.  Since inception in 1973, CNL and/or its affiliates have formed or acquired companies with more than$34 billion in assets. CNL is headquartered in Orlando, Florida. 

For more information, please visit https://www.cnl.com.

Andrew Milne

About Welltower 

Welltower Inc. (NYSE: WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. 

The company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience. 

Welltower™, a real estate investment trust ("REIT"), owns interests in properties concentrated in major, high-growth markets in the United States, Canada and the United Kingdom, consisting of seniors housing and post-acute communities and outpatient medical properties. 

Zack Drozda

 More information is available at welltower.com. 

Welltower routinely posts important information on its website at welltower.com in the "Investors" section, including corporate and investor presentations and financial information. 

The firm intends to use its website as a means of disclosing material, non-public information and for complying with its disclosure obligations under Regulation FD. Such disclosures will be included on its website under the heading "Investors." 

Anthony Frogameni

Accordingly, investors should monitor such portion of the company's website in addition to following company press releases, public conference calls and filings with the Securities and Exchange Commission. 

The information on Welltower’s website is not incorporated by reference in this press release, and the web address is included as an inactive textual reference only.

CONTACTS: 

TED FLAGG

HFFS Senior Managing Director

(212) 336-5482

tflagg@hfflp.com

EVAN KOVAC

HFF Managing Director
(206) 576-0050

ekovac@hfflp.com

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

HFF arranges $18 million refinancing for Aloft hotel in downtown Orlando, FL

Aloft Orlando Downtown, a 118-room, select-service, Aloft-branded hotel  at 500 South Orange Avenue, in downtown Orlando, FL

ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged an $18 million refinancing for Aloft Orlando Downtown, a 118-room, select-service, Aloft-branded hotel in downtown Orlando, Florida.

HFF worked on behalf of the borrower, GDC Properties, to place the five-year, non-recourse, floating-rate loan with a national bank.  Loan proceeds will be used to retire existing debt as well as reinvest in the hotel.   

Gregg Shapiro

GDC Properties acquired the historic Orlando Utilities Commission office building and converted it from an eight-story office building into the Aloft Orlando Downtown, which opened in late 2013.

  The hotel, which has achieved LEED Gold certification, features the Re:Charge gym, Splash outdoor pool, lobby workstation, nearly 9,000 square feet of meeting space and two food and beverage offerings, including the WXYZ bar and Re:Fuel by Aloft grab-and-go food outlet.

  Located at 500 South Orange Avenue, the hotel is across the street from the Dr. Phillips Center for Performing Arts and proximate to more than 10 million square feet of central business district office space. 

Additionally, the hotel is within walking distance to some of Orlando’s most popular restaurants and night life along with a short drive or SunRail ride to popular Orlando destinations.

Michael Weinberg

The HFF debt placement team representing the owner was led by managing director Gregg Shapiro and senior managing director Michael Weinberg.

“The Aloft Orlando Hotel represents an exceptional example of adaptive reuse that has resulted in a high-performance property,” Shapiro said.  “We are thankful for the opportunity to work on the refinancing and enable GDC Properties to extend their ownership period.”

HFF’s knowledge of and experience in selling and sourcing financing for downtown Orlando hotels is extensive and includes the Embassy Suites by Hilton Orlando Downtown, Grand Bohemian Hotel Orlando and Crowne Plaza Orlando-Downtown.

About GDC Properties

GDC Properties was founded in 1994 by Samuel Ginsburg to specialize in the development, management and acquisition of residential and commercial income properties. 

Samuel Ginsburg

 GDC Properties traces its roots to the founding of Ginsburg Development Corporation by Samuel and Martin Ginsburg in 1964.  Today, GDC Properties owns and manages a diverse portfolio of retail, multifamily, mixed-use and hotel properties.

CONTACTS: 

GREGG SHAPIRO

HFF Managing Director

(404) 942-2208

Martin Ginsburg

gshapiro@hfflp.com

MICHAEL WEINBERG

FL Lic. # SL3133790

HFF Senior Managing Director

(407) 745-3914

mweinberg@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

http://gdcproperties.com.

RMK Management Corp. Adds Three New Midwest Properties to Management Portfolio

Anthony Rossi Sr.

CHICAGO. IL – RMK Management Corporation, one of the Midwest’s largest market-rate apartment management firms, announced it has taken over leasing and property management for three rental communities in Elgin, Ill., Madison, Wisc, and Chesterton, Ind., acquired by Trevian Capital and Crown Properties.

The properties’ new owners, both headquartered in New York, spent over $3,500,000 in capital improvements across the three properties totaling 407 units.

Summit Hill in Madison, WI features a mix of studio, one-bedroom lofts and two-bedroom apartments

“One of the key advantages that we offer to the new owners and residents is our familiarity with the properties, as we managed all three of the properties in 2016,” said Anthony Rossi, Sr., CEO of Chicago-based RMK Management Corp.

 “RMK is an award-winning firm known for its superb, resident-focused customer service, so we can provide the kind of top-notch service and seamlessly take over management of these garden-style buildings that will elevate residents’ living experience.”

Wing Park, a 184-unit property near the Fox River in Elgin, IL, offers one- and two-bedroom apartments, each with one bath, and floor plans ranging from 650 to 925 square feet.

Summit Hill in Madison, Wisc., features a mix of studio, one-bedroom lofts and two-bedroom apartments that feature high ceilings, fireplaces, modern kitchens and in-unit laundry. 

Apartments, ranging from 450 to 950 square feet, come with a balcony, deck or outdoor space, free storage space and parking. The 123-unit property offers easy access to dining, entertainment, shopping, the state capital and is a 10-minute walk to the University of Wisconsin-Madison.

Wing Park, a 184-unit property near the Fox River in Elgin, Ill., offers one- and two-bedroom apartments, each with one bath, and floor plans ranging from 650 to 925 square feet. Kitchens feature electric appliances, dishwashers, window blinds and many units offer separate dining rooms and foyers. 

The community is next to a large community park, giving residents easy access to shopping, entertainment, major interstates and downtown Chicago from the Metra commuter rail.

Abbey Lane, a 100-unit property in Chesterton, IN, features one- and two-bedroom units with one bath.

Located eight minutes from the Indiana Dunes, Abbey Lane, a 100-unit property in Chesterton, Ind., features one- and two-bedroom units with one bath. Layouts, ranging from 839 to 1,398 square feet, offer fireplaces, dining rooms, lofts, dens and ample closet space. 

The property is also one of the few pet friendly communities in the area and is near restaurants, shopping, historical sites and entertainment. For commuters, a South Shore commuter rail reaches downtown Chicago in just over an hour.

  

RMK Management Corp. is one of the Midwest’s largest apartment management firms and has built its reputation on putting the needs of its residents first. 

CONTACTS: 

Amanda Cienkus, acienkus@taylorjohnson.com, (312) 267-4524

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

www.rmk.com.

Baleària Caribbean Relocating Cargo Operations to Schaefer Industrial Park in Fort Lauderdale, FL

St. George Guardabassi

FORT LAUDERDALE, FL – Baleària Caribbean recently signed a new, 5-year lease for more than 25,000 square feet of space at Schaefer Industrial Park in a deal brokered by St. George Guardabassi and Jonathan Thiel of Berger Commercial Realty/CORFAC International.

 Guardabassi, senior vice president, and Thiel, senior sales associate, represented the landlord, Schaefer Industries, Inc.Baleària Caribbean offers passenger service and cargo shipping to the Bahamas from Fort Lauderdale’s Port Everglades.

“The close proximity of Schaefer Industrial Park to Port Everglades, in addition to plenty of parking for customers, proved to be a deciding factor in Baleària’s relocation,” Guardabassi said.
Located at 3390 S.W. 13th Ave. in Fort Lauderdale, Schaefer Industrial Park is a 177,000-square-foot, two-building industrial complex located directly across from Fort Lauderdale / Hollywood International Airport along I-595.

Jonathan Thiel

The property features dock-high loading doors, up to 20 feet of clear ceiling height and convenient access to I-595, I-95, US-1 and Port Everglades.

For more information about Berger Commercial Realty’s leasing services, call 954-358-0900.

CONTACTS:

954-776-1999
Lexi Robinson, ext. 255, lrobinson@piersongrant.com
Marielle Sologuren, ext. 226, msologuren@piersongrant.com

www.corfac.com

call 224.257.4400 or visit 

www.bergercommercial.com.

HFF arranges $20.5 million financing for mixed-use development in Point Loma, CA

The Californian, a  planned luxury residential and retail mixed-use development at Kemper Street and Midway Drive, in the coastal San Diego submarket of Point Loma, CA

SAN DIEGO, CA –– HFF announces it has arranged $20.5 million in financing for The Californian, a luxury residential and retail mixed-use development in the coastal San Diego submarket of Point Loma, California.

Bryan Clark

HFF worked on behalf of Murfey Company and Bishop Ventures to arrange the 10-year, fixed-rate loan through a commercial bank.  Loan proceeds were used to refinance existing construction financing.

The Californian is situated at the intersection of Kemper Street and Midway Drive adjacent to the newly completed West City Campus, a continuing education facility operated by the San Diego Community College District. 

 In addition, the property is two miles from the Liberty Station master-planned community and Ocean Beach and offers convenient access to I-5, I-8 and the Pacific Coast Highway. 

The three-story, elevator-served building encompasses 81 residential units totaling 68,141 square feet, 3,137 square feet of ground-floor retail and 108 parking spaces. 

 

Aldon Cole

Completed in 2018, units feature high-end, modern finishes and common area amenities include a rec room, courtyard with swimming pool, jacuzzi, barbeques and lounge areas throughout the property.

The HFF debt placement team representing the borrower was led by managing director Bryan Clark, senior managing director Aldon Cole and associate Bharat Madan.

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

About Bishop Ventures

Bishop Ventures is a San Diego-based real estate investment and development company with extensive experience in urban infill mixed-use development.  Founded by Gilman Bishop in 2007, the firm focuses on mixed-income housing affordable to low and moderate income households.

Bharat Madan

About Murfey Company

Murfey Company is a leader in the real estate development and building industry. 

 The company is dedicated to providing honest and high-quality services to all of its clients, investors and partners, with a focus on positive attitude, maintaining accessibility and a commitment to excellence. 

Murfey Company encompasses a comprehensive group of services, driven by technology, and fueled by a passion for all things in the building industry, Murfey Company has positioned itself as a clear-cut leader when it comes to development, investments and construction; ultimately enabling you to, “Create Your Lifestyle.” 

Gilman Bishop

 CONTACTS:

BRYAN J. CLARK

CA Lic. #01709389

HFF Managing Director

(858) 552-7690

bclark@hfflp.com

ALDON L. COLE

CA Lic. #01457351

HFF Senior Managing Director

(858) 552-7690

acole@hfflp.com

OLIVIA N. HENNESSEY

HFF Public Relations Specialist

(713) 852-3403

ohennessey@hfflp.com

https://murfeycompany.com/

BKM Capital Partners Introduces New Creative Industrial Offering in 302,000-SF Business Park in Burbank, CA

 

Brian Malliet

BURBANK, CA – As institutional investors and real estate operators continue to seek new strategies for value creation in commercial properties, institutional fund manager BKM Capital Partners has announced a fresh approach in its Backlot Burbank property – a 302,869 square-foot industrial business park in Burbank, California.

The firm, which has made a name for itself as one of the most active buyers of industrial portfolios in the Western U.S., recently unveiled creative improvements at its Backlot Burbank property which include the addition of urban street art murals painted by Paris, France-based artist, Alice Pasquini, in the 12-building property.

“As a diverse, culture-focused company with more than 7 million square feet of assets under management, we recognize the tremendous opportunity in delivering unique upgrades that celebrate culture, art, and the local community,” says Brian Malliet, CEO and co-founder of BKM Capital Partners.

 “By thinking outside the box, we are delivering a new local landmark that provides a positive social impact while also driving property value for our investors.”

Alice Pasquini

The property, which BKM acquired in August 2018 for $84.75 million, is situated in Burbank’s most active entertainment core for broadcasting and radio production.

Backlot Burbank is located at 4100-4210 W. Vanowen Place; 2303-2333 N. Valley Street, 4400-4510 W. Vanowen Street in Burbank, California.

 CONTACTS:

Alex Caswell/Lexi Astfalk

Brower Group

(949) 438-6262

acaswell@brower-group.com

HFF closes $25 million sale of Philadelphia-area medical office building leased to Crozer-Keystone Health System

Crozer-Keystone at Broomall, a 57,320-SF, Class A cancer center and multi-specialty outpatient facility
in the Philadelphia-area community of Broomall, PA

PHILADELPHIA, PA –– Holliday Fenoglio Fowler, L.P. (HFF) announced  that it has closed the sale of Crozer-Keystone at Broomall, a 57,320-square-foot, Class A cancer center and multi-specialty outpatient facility in the Philadelphia-area community of Broomall, Pennsylvania.

Ben Appel

HFF marketed the property on behalf of the seller, Capital Solutions.  Anchor Health Properties purchased the asset free and clear of existing debt.

Crozer-Keystone at Broomall is located at 30 Lawrence Road in the dense infill Route 3 corridor of northern Delaware County.  Positioned just six miles outside of Philadelphia, the medical office building draws from eight hospitals and more than 330,000 residents within a five-mile radius. 

Crozer-Keystone Health System, which is the dominant health system in Delaware and Chester counties with 63% market share, leases the entire facility on an absolute triple net master-leased basis. 

Evan Kovac

The HFF investment advisory team representing the seller was led by members of HFF’s healthcare capital markets team, including director Ben Appel, managing director Evan Kovac and associate Andrew Milne as well as senior managing director Doug Rodio.

About Capital Solutions

Capital Solutions is a real estate investment and private equity firm founded by Frank Seidman in 1991.

The Capital Solutions investment team consists of experienced professionals with strong backgrounds in real estate acquisitions, dispositions, finance, equity funding, redevelopment, asset management, structured finance and capital markets.

Capital Solutions invests alongside quality operating partner across the U.S. and Canada with a focus on medical office, multifamily, student housing, senior living, and net lease opportunity within its real estate portfolio.

 

Andrew Milne

About Anchor Health Properties

Anchor Health Properties (“Anchor”) is a national, full-service healthcare real estate development, management and acquisitions company focused exclusively on medical facilities. 

Anchor takes a strategic approach to navigating the extremely competitive healthcare marketplace, considering multiple angles, such as retail drivers, customer experience, branding and efficiency of the project. 

 The company develops and manages projects across the United States that respond to the new landscape of employed physicians, team-based care, the need to optimize assets and reduce duplication, and the integration of care and technology. 

Doug Rodio

Healthcare today calls not only for new and more efficient ways of delivering outpatient services, but also a different kind of healthcare development and management company. 

For more information, please visit: www.anchorhealthproperties.com.

 CONTACTS:

Frank Seidman

BEN APPEL

PA Lic. #RS312185

HFF Director

(212) 872-9903

bappel@hfflp.com

EVAN KOVAC

HFF Managing Director

(206) 576-0050

ekovac@hfflp.com

KRISTEN MURPHY

HFF Director, Public Relations

(617) 848-1572

krmurphy@hfflp.com