SR Commercial Acquires Its 10th Property in San Diego, CA Market

  

2611 Business Park Drive, Vista, CA

 SAN DIEGO, CA (Feb. 14, 2013) – SR Commercial, a privately held, full-service commercial real estate investment company, has completed its tenth acquisition in the San Diego market. 

The firm recently acquired a 125,000 square-foot, Class A industrial warehouse for a total consideration of $10 million in Vista, Calif.; and a 32,842 square-foot industrial building in Oceanside, Calif. for a total consideration of $2.9 million, according to CJ Stos, a Principal of SR Commercial. 

CJ Stos

“Right now is the ideal time to invest in the San Diego industrial market,” says Stos, who founded SR Commercial with Adam Robinson.  “Pricing is still competitive while debt remains low and the tenant market is getting stronger, which is an attractive combination. 

"Demand for investment-grade product in the market continues to climb, which will ultimately drive values higher, delivering strong ROI for those who invest now.”

The firm acquired eight industrial properties in 2012, and plans to double its investment amount in 2013, according to Stos.

Adam Robinson

“Our goal is to have over a million square feet of owned quality industrial product by the end of the year,” he says.

In keeping with this strategy, SR Commercial recently acquired two industrial assets in the San Diego market, including:

SR Commercial acquired a 125,000 square-foot, Class A industrial property located at 2611 Business Park Drive in Vista, Calif. for a total consideration of $10 million.

SR Commercial also acquired a 32,842 square foot multi-tenant, industrial flex building in Oceanside, Calif. for a total consideration of $2.9 million. The property is located at 1935 Avenida Del Oro in Oceanside, Calif. 

For a complete copy of the company’s news release, please contact:

Jenn Quader / Judith Brower

Brower, Miller & Cole

(949) 955-7940

 jquader@browermillercole.com

www.BrowerMillerCole.com

www.sr-commercial.com.

Capital Square Realty Advisors Launched by Commercial Real Estate Investment Veteran Louis Rogers

  

Louis J. Rogers

 RICHMOND, Va. (Feb. 14, 2013) – Louis J. Rogers, a 29-year veteran of commercial real estate investments, has launched Capital Square Realty Advisors, LLC.

Capital Square provides institutional quality real estate investments for high net worth investors seeking replacement property for Section 1031 exchanges and regular cash investments. The company uses the Delaware Statutory Trust structure to syndicate properties in smaller units for acquisition by qualified, high net worth investors.

“The DST structure is a proven and efficient vehicle for syndicating commercial real estate investments,” said Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors. “Capital Square structures real estate investment programs intended to provide superior risk adjusted returns to investors along with material tax advantages.”

  

For a complete copy of the company’s news release, please contact:

Jill Swartz                                                                            

Spotlight Marketing Communications                    

949.427.5172, ext. 701 – office                                  

949.485.1552 – cell                                                          

 jill@spotlightmarcom.com

Louis Rogers

Capital Square Realty Advisors, LLC

804.290.7900 – office

804-833-1031 – cell

 lrogers@capitalsquareholdings.com

Morrison Commercial Real Estate Completes Rebranding of Alliance International Business Center in Orlando, FL

Lisa Bailey

           

ORLANDO, FL (Feb.14, 2013):  Morrison Commercial Real Estate announced the completion of the rebranding of Alliance International Business Center.

Lisa Bailey and  Patrick Morrison of Morrison Commercial Real Estate, along with Rebecca Whitley of Morrison CLW Property Services, worked with ownership Bel-Cal Properties, Inc. to completely renovate and rebrand Alliance International Business Center, formerly known as Grand National Plaza.

Patrick Morrison

 Exterior improvements to the property include professionally painted roof tiles, sealed and striped parking lot, lush landscaping.

Ready-made spaces are available, as well as a complementary conference room and courtyard seating with WIFI access. An addition of a New York Deli serves breakfast and lunch. The property also features centrally located on-site property management and an on-site maintenance engineer.

Contact:

Sarah Holodick

Phone: 407.219.3500

Email:  sholodick@morrisoncre.com

Emerson International negotiates three leases totaling 4,000+ SF of office space in Central Florida

Zac Starkey

ALTAMONTE SPRINGS, FL --- Emerson International closed on three new long-term lease agreements that total 3,619 square feet of office space in the CenterPointe Office Park in Altamonte Springs and Louisiana Office Park in Winter Park.

Zac Starkey, commercial leasing associate at Emerson International, negotiated all three lease agreements.

 At the CenterPointe Office Park, New Foundations Christian Ministries leased 2,148 square feet of office space and McGwier Family Law leased 740 square feet.

CenterPointe Office Park, Altamonte Springs, FL

The Astra Group leased 1,030 square feet at Emerson’s Louisiana Office Park on Louisiana Ave. in Winter Park.

 For more information, contact

  Zac Starkey, Commercial Associate, Emerson International, Inc. 407-834-9560; 

zstarkey@emerson-us.com

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

Hunter Hotel Advisors Promotes Danny Givertz to Senior VP

Danny Givertz

 LOS ANGELES, CA and ATLANTA, Ga, Feb. 14, 2013—Hunter Hotel Advisors today announced that it has promoted Danny Givertz to senior vice president.

Givertz joined Hunter in January 2010 as vice president and has been responsible for building a strong West Coast presence for the firm.  He oversees Hunter’s Los Angeles office, with a focus on the western U.S.

“Danny has been one of our company’s most productive brokers, closing 14 transactions in 2012, including six in the past two months, which puts him at a pace of some two deals a month,” said Teague Hunter, president of Hunter Hotel Advisors. 

Teague Hunter

 “He has a great understanding of the hospitality space for a very diverse territory and has developed excellent relationships with hotel owners, brands, management companies and lenders.”                                                    

With nearly 15 years of hotel brokerage experience, Givertz has represented all of the major brands, including both full-service and select-services hotels in the Hilton, Marriott, Starwood and Intercontinental Hotel Group.  He holds a Bachelor of Science Degree in Business Administration and Real Estate Finance from Pepperdine University.

 

“Hunter has valued more than 50 hotels in the western U.S. in the past six months, which is a good indicator of market sentiment and future activity,” said Hunter.  

 “Today, hotel owners don’t always live in the immediate vicinity of their properties.  Our national network of seven offices allows us to identify and serve buyers throughout the U.S.  We currently have more than 100 properties under exclusive brokerage agreements nationally.”

Contact:  

Jerry Daly media

(703) 435-6293                                                                                                                

jerry@dalygray.com

www.hunterhotels.net

Manhattan Construction Co. to Build Georgia Poultry Laboratory Network’s New Headquarters in Hall County, Ga.

Barton Plunkett

 ATLANTA, GA (Feb. 14, 2013) – The state of Georgia has awarded Manhattan Construction Co. a $9.5 million contract to build the Georgia Poultry Laboratory Network’s new 38,000-square-foot headquarters off Highway 365 in unincorporated Hall County, Ga.

Construction of the single-story building, which will feature laboratories with biosafety levels (BSLs) of 2 and 3 as well as general office space, is slated to begin in April. Completion is scheduled for 2015.

 The network provides diagnostic and monitoring services to Georgia’s commercial poultry industry to ensure the safety and health of poultry flocks, eggs and other poultry products. Its headquarters are currently located in Oakwood, Ga.

U.S. Army Research Institute
 of Infectious Diseases (USAMRIID)
replacement facility in Fort Detrick, Md

“We are excited to support the state of Georgia in its efforts to improve the poultry industry through the application of improved diagnostic and monitoring technologies,” said Barton Plunkett, a senior vice president for Manhattan who oversees the firm’s Atlanta office.

 “At Manhattan, we are committed to playing an important role in projects that strengthen job-creating industries throughout the state.”

Rendering of Georgia Poultry
Laboratory Network’s new 
38,000-square-foot headquarters 
 Hall County, Ga.

 More than 100,000 residents of Georgia are either directly or indirectly employed by the poultry industry.

 Manhattan Construction has constructed some of the nation’s most advanced science and technology facilities. The company is currently building the U.S. Army Research Institute of Infectious Diseases (USAMRIID) replacement facility in Fort Detrick, Md. When complete, it will contain the largest block of BSL 3 and 4 laboratory suites in the world.

For more information, please visit: 

www.manhattanconstruction.com or connect with us @ManhattanBuild, via Facebook/ManhattanConstruction and on LinkedIn.

 Media Contact:

Stephen Ursery

The Wilbert Group

E-mail: sursery@thewilbertgroup.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com

U.S. Foreclosure Starts Fall to Six-Year Low in January as Scheduled Foreclosure Auctions Increase in 26 States

Daren Blomquist

IRVINE, CA, Feb. 14, 2013 — RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties and real estate data, today released its U.S. Foreclosure Market Report™ for January 2013, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 150,864 U.S. properties in January, a decrease of 7 percent from the previous month and down 28 percent from January 2012. 

The report also shows one in every 869 U.S. housing units with a foreclosure filing during the month

“The U.S. foreclosure landscape in January was profoundly altered by the effects of new legislation that took effect in California on the first of the year,” said Daren Blomquist, vice president at RealtyTrac.

 “Dubbed the Homeowners Bill of Rights, this legislation extends many of the principles in the national mortgage settlement — including a prohibition on so-called dual tracking and requiring a single point of contact for borrowers facing foreclosure — to all mortgage servicers operating in California.

 

“ In addition the new law imposes fines of up to $7,500 per loan for filing of multiple unverified foreclosure documents. 

"As a result, the downward foreclosure trend in California accelerated into hyper speed in January, decisively shifting the balance of power when it comes to the nation’s foreclosure activity.”

For a complete copy of the company’s news release, please contact:

Jennifer von Pohlmann

949.502.8300, ext. 139

jennifer.vonpohlmann@realtytrac.com

Ginny Walker

949.502.8300, ext. 268

ginny.walker@realtytrac.com

Data and Report Licensing:

Data Sales Department

800.462.5193

datasales@realtytrac.com

Marcus & Millichap Capital Corp. Arranges 48.4 Million Refinance for 120 Philadelhia Apartment Units

   

Kristopher Wood

 PHILADELPHIA, PA,  Feb. 13, 2013 – Marcus & Millichap Capital Corporation (MMCC) has arranged an $8.4 million permanent loan to refinance a portfolio of two Philadelphia apartment properties comprising four buildings and totaling 120 units.

            Kristopher Wood and John Banas, directors in the firm’s Philadelphia office, arranged the financing.

            “Agency lenders did not represent the best option, since the properties were situated in emerging neighborhoods,” says Wood. “But the investor had noted the current low interest rates and made the decision to grow this previously family-owned portfolio with a cash-out, so MMCC needed to find a lender who appreciated the locations’ value-add opportunities.”

John Banas

            “Educating potential lenders was part of the process,” Banas adds, “as not all were familiar with Philadelphia’s current multifamily growth patterns. But eventually we found one who understood the neighborhoods’ potential, a view we supported through our broker network’s expertise and careful research,” concludes Banas.

            The seven-year loan amortizes over 30 years at 3.2 percent. The LTV is 65 percent.

  

For a complete copy of the company’s news release, please contact:

Press Contact:

Marcus & Millichap Capital Corporation

(925) 953-1716

Boardwalk REIT Announces Solid Fourth Quarter and Full Year 2012 Financial Results

Sam Kolias, chairman and CEO
Boardwalk Real Estate Investment Trust

CALGARY, ALBERTA, CANADA, Feb. 13, 2013 /PRNewswire/ - Boardwalk Real Estate Investment Trust ("Boardwalk", "Boardwalk REIT" or the "Trust") today announced positive financial results for the fourth quarter and fiscal year of 2012.

Funds From Operations ("FFO") for the fourth quarter totalled $38.4 million, or $0.73 per unit on a diluted basis, compared to FFO of $34.2 million or $0.65 per unit for the same period last year, an increase of

12.4% and 12.3%, respectively.

FFO for the twelve-month period ended December 31, 2012 totalled $150.3 million or $2.87 per unit on a diluted basis, compared to FFO of $131.8 million or $2.52 per unit for the same period last year, an increase of 14.1% and 13.9%, respectively.

For a complete copy of the company’s news release, please contact:

 Investor Relations

(403)531-9255

Investor@bwalk.com

Annaly Capital Management, Inc. Announces Preferred Dividends

NEW YORK, NY--(BUSINESS WIRE)-- In accordance with the terms of the 7.875% Series A Cumulative Redeemable Preferred Stock (“Series A Preferred Stock”) of Annaly Capital Management, Inc. (NYSE: NLY) (“Annaly”), the Board of Directors of Annaly has declared a Series A Preferred Stock cash dividend for the first quarter of $0.492188 per share of Series A Preferred Stock.

This dividend is payable on April 1, 2013, to Series A Preferred Stock shareholders of record as of March 1, 2013.

 For a complete copy of the company’s news release, please contact:

Annaly Capital Management, Inc.

Investor Relations

1-888-8Annaly

www.annaly.com

Cousins’ Gellerstedt Says Company Had ‘Exceptional Quarter and Year’ in 2012

Larry Gellerstedt

ATLANTA--Cousins Properties Incorporated (NYSE:CUZ) reports results for quarter and year ended Dec. 31, 2012.

“Cousins had an exceptional quarter and year, with solid operating performance and significant progress toward our strategic objectives,” said Larry Gellerstedt, CEO of Cousins.

 “We are thrilled to kick-off 2013 with the off-market acquisition of Post Oak Central in Houston, a 1.3 million-square-foot, Class-A office asset in the heart of the Galleria submarket.

“This investment not only serves as an attractive entry into a target market, it provides a rare combination of substantial in-place yield and significant future development opportunity.”  

Post Oak Central, Houston, TX

Highlights:

  

• Funds From Operations for the fourth quarter was $0.14 per share. Before special items, FFO for the quarter was $0.15 per share.
• Sold $250.8 million in operating assets during the fourth quarter.
• Sold $26.5 million in land during the fourth quarter.

• Subsequent to quarter end, purchased Post Oak Central in Houston for $232.6 million and completed transactions at Terminus 100 and 200 in Atlanta that resulted in a 50% ownership interest in both buildings.

Terminus 100

• Cousins Properties Incorporated (NYSE:CUZ) today reported its results of operations for the quarter and year ended December 31, 2012.

For a complete copy of the company’s news release, please contact:

Cousins Properties Incorporated

Gregg D. Adzema, 404-407-1116

Executive Vice President and

Chief Financial Officer

greggadzema@cousinsproperties.com

or

Cameron Golden, 404-407-1984

Vice President, Investor Relations and

Corporate Communications

camerongolden@cousinsproperties.com

Still Going Strong: Multifamily Sector Continued to Excel in 2012

  

Michael Bull

 ATLANTA, GA (Feb. 13, 2013) – The U.S. apartment segment turned in another strong performance in 2012, and even though overbuilding could become a problem in certain areas, the sector appears set for at least several more years of almost optimal health.

 That was the consensus of a panel of multifamily experts on the most recent episode of the “Commercial Real Estate Show” radio program, hosted by Michael Bull of Bull Realty. Bull and his guests provided an enlightening look at the sector, discussing occupancy rates, rent growth, new construction levels and the effects of low interest rates on investment-sales activity.

Ronald Johnsey

The national apartment occupancy rate improved 60 basis points in 2012 to end the year at 94.3 percent and should finish 2013 just shy of 95 percent, said Ronald Johnsey, president of AxioMetrics, an apartment-research firm. Nationally, effective rents increased by an average of 3.6 percent last year, a slight drop from the 4.2 percent growth of 2011, but still an impressive figure, he added.

 “If you get anything over 3 percent, you’re doing really well,” Johnsey said. The national effective-rent rate should grow by another 3.6 percent in 2013, he predicted.

Norman Radow

2012 also was marked by increasing renter demand for Class-B and class-C apartments as tenants looking to reduce their living expenses began moving out of more upscale properties where rents have skyrocketed in recent years, according to Johnsey.

 As a result of the sector’s recent success, construction of new apartments is beginning to pick up, guests noted. Approximately 85,000 units were delivered in the United States in 2012, a figure that is expected to nearly double to 168,000 units this year, Johnsey said.

 According to Johnsey, almost a third of this year’s new units will be concentrated in six markets: Austin, Texas; Dallas; Houston; New York; Seattle; and Washington D.C. “Those are the markets we really need to look at and worry about oversupply having a big impact on their performance,” he said.

Jerry Wilkinson

Climbing rents and historically cheap financing make this a great time for investors to purchase apartment properties, said Norman Radow, CEO of The RADCO Cos. Locking in a long-term, assumable loan at a low rate also will ensure there is demand for your property down the road when interest rates have increased, he added.

 “You’re almost selling the loan as much as the real estate,” Radow said.

 The single-family housing market has begun to recover, and that will actually benefit the multifamily sector by creating a variety of jobs and thus creating more renters, said Jerry Wikinson, chairman of The Wikinson Cos. and immediate past president of the National Apartment Association. “We view the recovery in housing overall as a good thing,” he said, although he also predicted the recovery to proceed slowly.

Andy Lundsberg

Andy Lundsberg, vice president of Bull Realty’s Apartment Group, said the apartment investment-sales market should remain healthy for a while. “There’s strong demand and a lot of competition [among buyers], which is driving supply [of for-sale properties] down,” he said. “It’s very competitive.”

“If you’re an owner, it’s a great time to sell,” Lundsberg added. “If you’re a buyer, take advantage of those low interest rates and buy now.”

The entire episode on the U.S. multifamily market is available for download at www.CREshow.com.

 The next “Commercial Real Estate Show” will be available Feb. 14 and will examine tax strategies for commercial real estate investors.

Contact:

Stephen Ursery

The Wilbert Group

E-mail: sursery@thewilbertgroup.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com

NAI Realvest Negotiates New Industrial Leases totaling over 13,000 square feet in Sanford, FL and Longwood, FL

Michael Heidrich Jr.

MAITLAND, FL. – NAI Realvest recently negotiated two new lease agreements totaling 13,150 square feet of industrial space in Sanford and Longwood.

 NAI Realvest associate Michael Heidrich, Jr., was the lead broker in the lease of 9,300 square feet at 390 Hickman Drive in Sanford along with Michael Heidrich Sr., principal at NAI Realvest.    Heidrich Jr. and Sr. negotiated the transaction on behalf of the local tenant, Powerplay Motor Sports, LLC and the landlords,

Michael Heidrich Sr. 

Charles and Christel Stephens of Deltona were represented by David Hammett of CRE Advisors LLC.

 In Longwood, Heidrich Jr. represented tenant Flawless Physiques, Inc., d/b/a CrossFit RSX in the lease of 3,850 square feet at 600 Bennett Drive.   The landlord, Poyner Warehouse LLC of Altamonte Springs, was represented in the transaction by Bill Bywater of Bywater Company.

For more information, contact:

Michael Heidrich, Jr. Associate, NAI Realvest 407-875-9989 mheidrichjr@realvest.com

 Michael Heidrich, Principal NAI Realvest, 407-875-9989 mheidrich@realvest.com;

 Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com  

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

Nightingale Properties Acquires One Hartsfield Centre in Atlanta, GA

  

One Hartsfield Centre
Atlanta, GA

 ATLANTA, GA [Feb. 13, 2013] -- Cassidy Turley, a leading commercial real estate services provider in the U.S., today announced it has brokered the sale of One Hartsfield Centre, a Class-A office building overlooking the north end of Hartsfield-Jackson Atlanta International Airport.

 Nightingale Properties acquired the eight-story, 147,731-square-foot building from a large European pension fund, which was represented in the sale by Cassidy Turley Senior Managing Director Mike Shelly and Associate Vice President Sonia Winfield. 

New York-based Nightingale paid $10 million, or approximately $68 per square foot, for the building.

Sonia Winfield

 Cassidy Turley brought One Hartsfield Centre to the sales market in mid-2012 and since then, the firm has increased the building’s occupancy. 

Cassidy Turley represented the seller in a long-term lease of a full floor Triumph Motorcycles, which is moving its North American headquarters to the building.

 “We were excited be a part of the sale of this quality asset,” Shelly said. “As one of few Class A office buildings with such close proximity to the airport, One Hartsfield Centre attracted a lot of interest in the marketplace.”

Mike Shelly

 Cassidy Turley has represented the pension fund for more than 10 years. “We had success attracting new tenants to Hartsfield Centre and now have successfully completed the disposition of the property for our client,” Winfield added.

One Hartsfield Centre is the second office building Nightingale Properties, based in New York, has purchased in the Atlanta area. The investor also owns retail centers in metro Atlanta.

 Contact:

Tony Wilbert

The Wilbert Group

404-965-5022

twilbert@thewilbertgroup.com

Steven C. Barre Joins McCraney Property Co. as Managing Director

Steven C.  Barre

WEST PALM BEACH, FL and ORLANDO, FL – McCraney Property Company (MPC), an integrated developer and manager of commercial/industrial flex and warehouse distribution properties located throughout Florida, has appointed Steven C. Barre as Managing Director.

His responsibilities include overseeing all divisions from an operations standpoint, including portfolio management, property management and leasing. He is also a valued member of the company’s acquisitions team.


Steven E. McCraney


“We’re in growth mode,” said MPC founder and CEO, Steven E. McCraney, CCIM, SIOR. “Steve is an accomplished executive with operations and large deal know-how, a combination you don’t see too often.

"He has extensive C-suite experience and a proven track record of evaluating and completing large, complex transactions, running businesses and improving operations and profitability. We are excited about the talents he brings to our team.”

Mr. Barre most recently served as CEO and a board member of Tigrent Inc., a $100 million for-profit provider of education programs on real estate and financial markets investing.

For a complete copy of the company's news release, please contact:
Don Silver
Chief Operations Officer
Boardroom Communications
(954) 370-8999
(954) 629-7523 Cell
(954) 370-8892 Fax
donsil@boardroompr.com



Teresa Shum

tshum@boardroompr.com

Boardroom Communications,

954-370-8999.