Arbor Funds $92.6 Million in Fannie Mae Loans Across Seven U.S. States

 Ryan Duff

 UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently financed Fannie Mae loans in seven states across the U.S. The properties, made up of 1634 units, received $92.6M in funding.   

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

 “Arbor has been able to keep up with the preservation of affordable housing through Fannie Mae’s mission-driven product lines during the pandemic,” Duff said.

“While rates remain competitive, we’re able to offer cost-effective, highly leveraged and competitive structures to our customers for all of their multifamily financing needs.”    

Highlights of Transactions

The following properties received financing through the Fannie Mae DUS® program:

Oaks at Five Mile Apartments in Dallas, TX, received $9.6M in acquisition financing in the first quarter of 2020. Built in 1977 the two-story, 196-unit property features walk-in closets, patios and balconies. Retail shopping and the Dallas Zoo are nearby.

Tuscany Village Apartments in Oklahoma City, OK, received $9M in refinancing in the second quarter of 2020. The community includes 306 units with hardwood floors, vaulted ceilings and built-in bookshelves. A swimming pool, playground and picnic area are available to residents. 

Westbridge Apartments in Little Rock, AR, received $6M in refinancing in the second quarter of 2020. Built in 1979, the 180-unit property is pet-friendly. Retail shopping and the Little Rock Zoo are in close proximity.

11-07 Welling Court in Astoria, NY, received $12.4M in refinancing in the third quarter of 2020. The 28-unit complex features custom Italian-crafted kitchens and access to a landscaped roof deck with panoramic views, an outdoor kitchen and more. Parks and public transportation are nearby.

Wingate Apartments in Forest Park, GA, received $11M in refinancing in the third quarter of 2020. The multifamily property features 211 units and is close to shopping, dining and entertainment. Fort Gillem is a short driving distance away.

Inverness Apartments in Tuscaloosa, AL, received $23.2M in acquisition funding in the fourth quarter of 2020. The 208-unit garden-style apartment complex was built in 1996 and offers one to four bedroom floorplans with fireplaces and balconies.

El Rancho Apartments in Dallas, TX, received $12M in refinancing in the fourth quarter of 2020. Built in 1968, the 308-unit gated complex was renovated in 2015. Retail shopping is within walking distance.

Four additional properties received refinancing through the Fannie Mae DUS® Small Loan program:

Jax Square Townhomes in Sterlington, LA, received $3.2M in the third quarter of 2020. The 30-unit property offers two- and three-bedroom options with walk-in closets, granite kitchen countertops and stainless steel appliances.

Sterling Townhomes in Sterlington, LA, received $2.9M in the third quarter of 2020. Built in 2015, the 28 unit property is made up of two- and three-bedroom floorplans with granite kitchen countertops and stainless steel appliances.

Strawberry Commons in Dalton, GA, received $2.1M in the third quarter of 2020. The 39-unit multifamily garden, low rise features a picnic area and playground. Retail shopping is nearby.

 One Fort Worth, TX, property received funding through the Fannie Mae DUS® Supplemental Loan program:

Regency Oaks received $1.2M in the second quarter of 2020. The 100-unit gated property includes one-, two-, and three-bedroom options and a swimming pool for residents.

 

CONTACT:

Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

Lynd Acquisitions Group Acquires Colorado Springs Apartment Community For $46.75 Million

288-unit Village at Lionstone Apartments 
Colorado Springs, CO 

COLORADO SPRINGS, CO and SAN ANTONIO, TX -- Lynd Acquisitions Group (LAG) has added a 288-unit garden-style apartment community to its growing portfolio. 

The San Antonio-Texas-based investment group recently acquired the Village at Lionstone Apartments in Colorado Springs, Colorado, one of the strongest apartment markets in the U.S., for $46.75 million.

“This is a solid-performing asset in an area with strong fundamentals and not much new apartment construction,” said A. David Lynd, LYND CEO. “It’s a perfect fit for our portfolio and for our LYND Living model which is providing an exceptional experience for residents.”

 Adam David Lynd

Steve Vainer of Greystone facilitated the transaction after another deal fell through.

“When the original buyer looked as if they may not be able to close, I was presented with this unique opportunity,” Vainer said. 

“LYND was my top choice given our existing relationship and confidence in their ability to execute a quick close.” 

LAG is the acquisition affiliate of LYND, a national real estate firm that specializes in the multifamily operations. The company manages more than 20,000 units in 11 different states in the U.S.

Built in 1984, The Village at Lionstone features 1-and 2-bedroom units with 1-2 bathrooms.  The apartments boast wood floors, stainless steel appliances, wood cabinetry, dining areas and separate walk-in closets.

Steve Vainer

Community amenities abound including a heated pool, with hot tub, picnic areas with BBQ grills and a playground, clubhouse, theater room and business center.

While the property has been updated to some level over the past 36 years, LYND plans on rolling out its LYND Living concept with signature upgrades. 

 They include: an outside fire pit and sports viewing areas, enhanced laundry-care facility, enhanced outdoor BBQ areas and dog park, and a jogging trail.  Unit improvements include upgraded island kitchen feature, quartz countertops and plank flooring.

 “In a post-COVID world, the value-add features we create on a site must be mindful about creating amenities that will be useful should we ever face another pandemic,” said Lewis Borsellino, LYND’s vice president of acquisitions. “Our newest offering does just this and more.”  The Village at Lionstone is located at 255 Lionstone Dr., Colorado Springs, CO 80916.

LYND has history in Colorado.  It has managed up to 800 units in the past, mostly in the Denver metropolitan area. With this closing, LAG has made $300 million in value-add acquisitions in the last 12 months and has another $230 million in the pipeline already for 2021. 

 CONTACT:

Daniel Benjamin

Senior Account Executive

 BoardroomPR

dbenjamin@boardroompr.com

O 954-370-8999

C 954-618-8287

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

 

 

Ware Malcomb Announces Construction is Under Way on 640 Columbia Multi-story Industrial Building in Brooklyn, NY

Rendering of planned 640 Columbia development, Brooklyn, NY

 

NEW YORK, NY – Ware Malcomb, an award-winning international design firm announced construction is underway for a multistory distribution center at 640 Columbia in Brooklyn, New York.

Michael Bennett

 Ware Malcomb is providing architectural design services for the project and working in collaboration with DH Property Holdings and Suffolk Construction. Steel is currently being erected at the 640 Columbia construction site. 

The facility’s strategic location will facilitate crucial last-mile distribution to meet the needs of retailers and manufacturers being minutes from Downtown Manhattan, Brooklyn, Queens, and the largest concentration of e-commerce shoppers in the country.

 The project is located on a 4.5-acre site in the Red Hook waterfront district in Brooklyn. The 3-story facility totals over 370,000 square feet and includes a warehouse, office space, two levels of truck docks, a mezzanine with parking and dedicated elevator service to the third floor.

Edward Mayer II

 The second story, which is accessible to full-size tractor trailers via a ramp, consists of 28-foot clear heights and a 130-foot truck court. 

The third floor includes 18-foot clear heights and has direct freight elevator access. 

An attached 77,853 square foot parking structure accommodates up to 184 cars for employees. 

 “Seeing this project progress from Ware Malcomb’s conceptual multistory prototype into construction is an incredible milestone for Ware Malcomb,” said Michael Bennett, Principal of Ware Malcomb’s Northeast region.

  ”We have worked in close collaboration with DH Property Holdings and Suffolk Construction and are looking forward to seeing this project through to completion.”

Dov Hertz

“Based on the specific requirements of this project and the location’s access to 13.5 million consumers within an hour drive, Ware Malcomb is confident the unique design of this multistory warehouse will serve as a significant distribution center for the greater New York area for many years to come,” said Edward Mayer II, Principal, Architecture of Ware Malcomb’s Newark, Princeton and New York offices.

 “We’ve enjoyed working with the team at Ware Malcomb from the early conceptual stages of this project now into construction. Their industrial thought leadership was demonstrated through their creative multistory design and efforts to maximize the long-term real estate value of the facility and the site,” said Dov Hertz, President of DH Property Holdings, LLC.  

 For more information, please visit http://www.waremalcomb.com/news and view Ware Malcomb’s Brand Video at youtube.com/waremalcomb.

 Contacts: 

Rachel Devany

VP Public Relations

 KCOMM for Ware Malcomb

Rachel@kcomm.com 

Maria Rodgers, Public Relations Manager, 949.660.9128, mrodgers@waremalcomb.com

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

 

Daum Commercial Completes $93.8 Million Sale of Six-Building Industrial Portfolio Totaling 464,415 SF in Los Angeles County

    Six-Building, 464,415 SF Industrial Portfolio Sold in Vernon, CA

 VERNON, CA – DAUM Commercial Real Estate Services has completed the $93.8 million sale of a 464,415 square-foot industrial portfolio encompassing six properties in the Los Angeles County submarket of Vernon, California, according to the firm’s President and CEO Michael Nubel.

 Nubel, alongside DAUM Executive Vice Presidents Jerry Sackler and David Freitag, represented Gautier Land Company as the seller in this transaction and procured the buyer, Rexford Industrial Realty, Inc.

Michael Nubel

“This investment transaction was the largest in the city of Vernon, an infill submarket located less than a mile from Downtown Los Angeles, in 2020,” explains Sackler, who notes that industrial vacancies in the submarket hovered at just above 3% in Q3, according to a recent DAUM market report. 

 “Through strategically marketing these properties and the strength of their long-term investment potential, we were able to secure a higher-than-average price per square foot for the seller as they move to diversify their portfolio.”

 Nubel adds that this was accomplished through DAUM’s experience in the submarket, as well as a long-term relationship with the seller and knowledge of the portfolio:

  “We’ve developed a deep partnership with Gautier Land Company spanning several decades, working with the family-owned private investment firm for more than 50 years and handling the leasing and management of all its properties for nearly 30 years.”

Jerry Sackler

The well maintained single and multitenant buildings are fully leased to a diverse tenant mix and feature 20’ to 30’ clear heights and extensive dock-high loading.

 “These assets are an ideal fit for Rexford’s portfolio of industrial properties located in Southern California infill markets,” continues Sackler.

  “Leveraging the high demand in the Greater L.A. area and their expertise in the sector, the firm is well positioned to unlock the upside potential these properties present.”

 The Vernon, California properties sit on 20.93 acres of land and include a 35,000 square-foot building located at 1921-1931 E 27^th Street; a 40,437 square-foot building at 2011-2025 E 27^th Street; a 98,389 square-foot building at 2031-2099 E 27^th Street; a 126,563 square-foot building at 2034-2040 E 27^th Street; a 63,318 square-foot building at 2750 S Alameda Street; and 2800-2840 S Alameda Street.

David Freitag

Contacts: 

Katie Haga / Elisabeth Manville  
Brower Group  
(949) 438-6262 
khaga@brower-group.com 

 

www.daumcommercial.com.

 

 

 

 

PEBB Enterprises Expands into New York Market with Retail Acquisition

 Ian Weiner

 

BOCA RATON, FL and NEW YORK, NY –– PEBB Enterprises, the entrepreneurial private real estate investment firm, is making its first foray into the New York market with the acquisition of a Long Island shopping center.

Mark Kaplan

The firm, in partnership with New York-based Sagamore Hill Partners, purchased Soundview Marketplace, a retail property with significant upside, in affluent Port Washington.

John Bell

PEBB and Sagamore acquired the 188,109-square-foot shopping center at 10 Shore Road for an undisclosed price. The transaction closed on Dec. 18, 2020.

Built in 1962 and 1977, Soundview Marketplace is comprised of four buildings on nearly 11 acres. 

Notable tenants include Target, TJ Maxx, Walgreens, West Marine and Ace Hardware. Target and TJ Maxx recently signed long-term leases at the center.

Soundview Marketplace presents an exceptional value-add opportunity for PEBB and Sagamore. 

It was 75% leased at closing, leaving substantial room to backfill remaining space at present-day rents.

Jon Kleinberg 

“Expanding into New York with this acquisition is an incredible way to close out the year,” PEBB Enterprises President and CEO Ian Weiner said.

 “This is a particularly exciting asset due to its location, strong anchor tenants and future lease-up potential. PEBB continues to pursue investment opportunities in New York and the broader Northeast market.”

“With this acquisition, we have the opportunity to complete Soundview Marketplace’s transformation into the area’s top shopping and dining destination.”  

Mark Kaplan, Principal of Sagamore Hill Partners added.  “Through site improvements and a focus towards attracting best-in-class operators, we can achieve that goal.”

Transwestern’s John Bell, Jon Kleinberg and Patrick Heeg of the firm’s Miami, Atlanta and New York offices, respectively, represented the seller. 

Patrick Heeg 

The property was marketed through the Ten-X commercial real estate transaction platform.

Port Washington is a hamlet, or community, in Nassau County on the North Shore of Long Island.

 The upscale area is known for luxurious homes, marinas, yacht clubs and golf courses.

  CONTACTS:

Eric Kalis

954-370-8999

ekalis@boardroompr.com

 

Daniel Benjamin

Senior Account Executive

 BoardroomPR

dbenjamin@boardroompr.com

O 954-370-8999

C 954-618-8287

www.saghill.com.

https://pebbenterprises.com/.  

JLL Capital Markets finds retail lending remains active with insurance companies and local banks

Claudia Steeb

CHICAGO, IL – Various coronavirus stay-at-home orders affected retail investment sales transactions in the early days of the pandemic, but insurance companies and local bank lenders kept capital at the ready for deployment into retail.

With historically low interest rates, JLL Capital Markets retail debt placement teams have closed $542.83 million worth of retail financings since July, demonstrating the lending community’s confidence in segments of the retail sector.

 “There is a myth that retail is unfinanceable today, and that’s absolutely untrue,” said Christopher Drew, Senior Managing Director, Capital Markets, JLL Americas.

“When structured appropriately, plenty of financing is available to investors. In fact, certain lenders, like local and regional banks, never stopped lending.”

Record-low interest rates are also bringing new investors to the sector, according to Claudia Steeb, Managing Director, Capital Markets, JLL Americas.

“Investors notice these rates and see an opportunity to expand their holdings and balance out their portfolios with retail acquisitions, possibly at a discount.”

 Steeb also says flexibility is vital to retail lending, which is causing the type of lender providing the most agreeable terms to shift.

Christopher Drew

 “Even though we are working with all types of lenders, insurance companies and local and regional banks are paving the way toward getting retail deals done in 2020,” Steeb explained.

“They have flexibility, tend not to have significant exposure in any particular asset class and are able to arbitrage the market so when competitors pull out, they can jump in and gain extra yield for their portfolio.”

  Steeb points out that JLL is seeing other lenders, such as bridge lenders, debt funds and CMBS, underwriting well-located retail assets with strong sponsorship and existing supportable cash flow to determine if they can sell their loan committees and/or rating agencies on the retail loan opportunities.

 For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

  

 CONTACT:

Kimberly Steele,

JLL Senior Associate

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

Blue Ocean Wealth Advisors Moves to Maitland, FL

Andy McCaw

 ORLANDO, FL – Andy McCaw, FMA, Vice President at NAI Realvest, recently helped tenant Blue Ocean Wealth Advisors, LLC relocate to a new office. 

 Blue Ocean consists of two separate operating companies known as Dorman Financial Management and Carpenter, Claydon Advisors. 

They are moving to 557 North Wymore Road, Suite 201, Maitland and will be occupying 2,965 SF by the first of the new year. 

 

The landlord, SLRK, LLC was represented by Jamie Barati and John Worrell with JLL.  

 

About NAI Realvest

 

NAI Realvest, covering all of central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide.

 

 CONTACTS:

Yelena Gurtovenko 

ygurtovenko@realvest.com

 

Andy McCaw, FMA, Vice President, NAI Realvest

407-875-9989, amccaw@realvest.com

 

Patrick Mahoney, President/CEO, NAI Realvest,

407-875-9989 pmahoney@realvest.com

 

www.nairealvest.com.