Friday, March 8, 2013

HSA Commercial Represents Blue Vista Capital Management in the Sale of a Retail / Warehouse Property in Carol Stream, IL



320 Army Trail Road, Carol Stream, IL
                        CHICAGO, IL—HSA Commercial represented Blue Vista Capital Management, LLC in the sale of a 97,595-square-foot, fully-leased retail and warehouse property in Carol Stream, Ill. to MSR Carol Stream LLC of Tinley Park, Ill. The building sold on February 28th, 2013 for an undisclosed amount.

 The retail portion of the property, located at 320 Army Trail Road, is anchored by American Sale, an eight-unit regional chain that specializes in the sale of patio furniture, hot tubs, above-ground swimming pools, grills, billiard tables, wooden play sets and holiday décor.

Wheaton, Ill.-based Crossway, a national publisher and distributor of evangelical Christian books, leases 46,635 square feet in the building for use as a regional distribution center. The balance of the retail space is leased to Back to Bed and Executive Tan.

 HSA Commercial’s Tim Thompson, Michael Havdala, Paul Broderick, and Brenton Schrader represented Blue Vista Capital Management in the listing and sale.

Timothy Thompson
Joe Herron, senior vice president with Lee & Associates, and Kevin McLoughlin, principal / vice president with Mid-America Real Estate, represented MSR Carol Stream LLC in the transaction.

 Founded in 1981, Chicago-based HSA Commercial Real Estate is a diversified, full-service real estate firm specializing in office, industrial, retail and health care real estate leasing, management, marketing, development and financing on a national basis.

Along with developing and acquiring more than 50 million square feet of commercial real estate across the United States, with a total consideration in excess of $2.5 billion, HSA Commercial Real Estate has represented owners and tenants in more than 10,000 transactions in 43 states; manages a property portfolio in excess of 16 million square feet in locations across the nation; and owns more than 16 million square feet of commercial property in 14 states.

Contact:

Mark Thomton,
312-267-4523

Kim Manning,
312-267-4527
  

Thursday, March 7, 2013

HFF closes sale of Northstar Lodge, a Hyatt Residence Club in Truckee, CA


Northstar Lodge, Truckee, CA
SAN FRANCISCO, CA – HFF announced today that it has closed the sale of the Northstar Lodge, a Hyatt Residence Club in Truckee, California.  The transaction includes the 23 remaining unsold whole-ownership and fractional residential units, in addition to two entitled development parcels for future phases of the project. 
Holden Lim

HFF marketed the asset on behalf of the seller, LTMR Properties, LLC.  Welk Resort Group purchased the offering for an undisclosed amount free and clear of existing debt.

                The Northstar Lodge, a Hyatt Residence Club, is a ski-in/ski-out private residence club situated at the base of Northstar Mountain in Truckee, California.  Completed in 2008, the first phase of this LEED Silver luxury property features 34 two- and three-bedroom units totaling 51,602 square feet. 

Scott Hall
The club amenities include a private ski & boot valet, swim & fitness center, owners’ lounge and plaza, and media room. 

The adjacent development parcels are entitled for an additional 67 units totaling 102,619 square feet.  

                The HFF investment sales team representing the seller was led by managing directors Holden Lim and Scott Hall.

                “We were pleased to represent the seller in this important assignment, our third transaction in Northstar this cycle.  The Northstar Lodge is one of the finest ski resort residence clubs in the country and presents the new owners with a myriad of value-add execution alternatives,” noted Hall.

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

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

HFF closes $100 million sale of Class A office tower in San Francisco



100 Spear St.,
San Francisco, CA
SAN FRANCISCO, CA – HFF announced today that it has closed the sale of 100 Spear Street, a Class A office tower totaling 203,071 square feet in San Francisco, California.

HFF marketed the property on behalf of the seller, Clarion Partners.  Prudential Real Estate Investors purchased the property for $100 million.

Originally developed by HKS in 1984, the 21-story tower is LEED Gold certified and is 91.5 percent leased to 41 tenants, including several high-profile professional service and technology companies. 

Since 2009, more than $4.5 million has been invested into the property including a substantial lobby renovation, fire-life-safety system upgrades and modernization of the elevator systems. 

Gerry Rohm
The building is located at the intersection of Market Street in San Francisco’s South Financial District, one block from the future Transbay Transit Center, which will be the largest transportation hub ever built on the West Coast.

The HFF investment sales team representing the seller was led by senior managing directors Gerry Rohm and Michael Leggett and director Dave Karol.

Michael Leggett
Clarion Partners has been a leading U.S. real estate investment manager for more than 30 years. Headquartered in New York, the firm has offices in major markets throughout the U.S., in S͠ão Paulo, Brazil and London, England as well as a presence in Mexico. 

With more than $27 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors.  More information about the firm is available at www.clarionpartners.com.

Dave Karol
                September 30, 2012, PREI managed approximately $51.2 billion in gross real estate assets ($34.6 billion net) on behalf of more than 490 clients worldwide.  For more information, visit http://www.prei.com.

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

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

. HFF closes sale of Whole Foods at Bay Place in Oakland, CA



Whole Foods at Bay Place, Oakland, CA
SAN FRANCISCO, CA – HFF announced today that it has closed the sale of Whole Foods at Bay Place, a newly-constructed, 57,218-square-foot, Class A retail property in Oakland, California.

                HFF marketed the property on behalf of Bond Companies.  The buyer purchased the property free and clear of existing debt.

                Whole Foods at Bay Place is located at 230 Bay Place at the intersection of Harrison Street in Oakland near Lake Merritt.  Completed in 2007, the property is 100 percent leased to Whole Foods.

Nicholas Bicardo
Constructed of steel and concrete, the building incorporates a portion of the former Cox Cadillac Showroom and also includes a roof deck parking structure.

                The HFF team representing the seller was led by managing director Nicholas Bicardo along with executive managing director Matthew Lawton and associate director Mark Damiani.

                “On the West Coast, there continues to be a dearth of quality retail properties on the market like Whole Foods at Bay Place, and an insatiable amount of capital,” says Bicardo. “This acquisition for the buyer represents a fantastic purchase of a trophy building occupied by a credit top-tier grocer with some of the strongest sales productivity in the world.”

Matthew Lawton
                Bond Companies is a national real estate value-add and development company with offices in Los Angeles and Chicago that focuses on enhancing cities, while leaving a positive, sustainable and lasting legacy for future generations to enjoy.

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

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

Northeast Private Client Group Wins 2012 CoStar Power Broker Award


.
Edward Jordan
 WHITE PLAINS, NY and  BRIDGEPORT, CT, March 7, 2013 – Investment sales broker Northeast Private Client Group has been selected by CoStar Group, Inc. (NASDAQ: CSGP), commercial real estate's leading provider of information and analytics, as CoStar’s “Power Broker Award” winner for 2012.

 This annual award recognizes the “best of the best” in commercial real estate brokerage by honoring the firms and brokers who closed the highest transaction volumes in commercial property sales in their respective markets.

Northeast Private Client Group qualified as one of the top commercial brokerage firms of 2012 in the Westchester/Southern Connecticut region based on its volume of $65 million in total investment sales transactions closed in the region last year.  

Northeast Private Client Group completed the following major transactions in 2012: a $7.5m sale of a grocery-anchored shopping center in New Haven, CT;  a $5m sale of a 164-unit apartment complex in Bridgeport, CT;  and a $4.75m sale of a seven-building multifamily portfolio in Greenwich, CT.

 “I’m extremely proud of our entire Northeast PCG team,” says Edward Jordan, JD, CCIM, the firm’s managing director.  “Over the past three years, we’ve recruited and developed a number of talented young professionals in our White Plains and Bridgeport offices, who have helped contribute to our success.  We’re grateful for this acknowledgement within the industry.”

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

Rick Leonard
rleonard81@gmail.com
203.434.7734


Trepp February Payoff Report: Percentage of Loans Paying at Maturity Remains Above 60%



NEW YORK, NY -- According to the Trepp January Payoff Report, the percentage of loans paying off on their balloon date has exceeded 60% for the fifth time in the last six months.

 In February, 61.8% of loans reaching their balloon date paid off--a decrease of about five percentage points from the January reading.

The February rate of 61.8% is well above the 12-month moving average of 49.2%. (This number sums the averages of each month and divides by 12, there was no balance weighting across the months.)

Six months ago, we noted that the payoff rate could move to the upside for the remainder of 2012. We mentioned that loans reaching their maturity date would likely be more heavily populated with loans from earlier vintages, and that assets from that time frame were made with lower leverage and more reasonable valuations.

The result should be better payoff numbers. Data from the past six months has confirmed this trend.

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

Eric R. Gerard
Senior Vice President
Great Ink Communications
27 Union Square West, Suite 205
New York, NY 10001
(212) 741-2977

$10.5 Million Retail Center Trades Hands in Metro Atlanta


  
Lanier Crossing, Cumming, GA
 CUMMING, GA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Lanier Crossing, an 111,000-square foot Hobby Lobby-anchored shopping center in Cumming, Ga., part of the Atlanta metropolitan area. 

The sales price of $10,575,000 equates to $96 per square foot.

The property is located on 13.6 acres at the intersection of Highway 9 and Highway 20 at 655 Atlanta Road in Cumming.

Howard Bregman
 Howard Bregman, an associate, and Brandon Rex, a vice president investments, both in Marcus & Millichap’s Fort Lauderdale office, represented the seller, Infinity Property Fund. Rex and Bregman also represented the Northeast-based buyer. 

Brandon Rex
John Leonard, first vice president and regional manager of the firm’s Atlanta office, is Marcus & Millichap’s broker of record in Georgia.

            “Lanier Crossing received a significant amount of interest from a variety of investors,” says Rex. “The property is located on a high-profile corner in an area with excellent demographics.”

“The center has had an average occupancy of more than 90 percent over the past 10 years,” adds Bregman. “It is a stable investment property with diverse mix of national and local tenants that well serves its community’s needs.”

John Leonard
“Hobby Lobby occupies 49 percent of the gross leasable area and is in the midst of its first five-year option with one five-year option remaining,” Bregman continues.

 “The buyer needed assurances that Hobby Lobby would probably remain in the center and in the unlikely event it decided to leave, what were the options and what other interested big box tenants there might be.

“We also forecast future refinancing models for the buyer as there was a CMBS loan assumption tied to expiration of the Hobby Lobby’s lease option,” Bregman concludes.
  
For a complete copy of the company’s news release, please contact:

Ben Johnson,
 Marketing Director
(925) 953-1736

American Healthcare Investors Facilitates Acquisitions in Colorado, Louisiana and Texas on Behalf of Griffin-American Healthcare REIT II



Danny Prosky
NEWPORT BEACH, CA– American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT II, Inc., announced today the acquisition of five medical office buildings by the REIT for an aggregate purchase price of approximately $47 million.

 The acquired buildings are located in Greeley, Colorado; Ruston, Louisiana; and Abilene, Texas. 

Currently, the REIT’s portfolio totals 148 buildings valued at approximately $1.4 billion, based on purchase price, diversified across 27 states.  Since Jan. 1, 2012, the portfolio has grown by approximately 213 percent, based on purchase price. 

As of Sept. 30, 2012, the Griffin-American Healthcare REIT II property portfolio was 96.8 percent leased with a weighted average remaining lease term of approximately 9.4 years and leverage (total debt divided by total assets) of 32.8 percent.

“Since the beginning of 2012, our nationwide portfolio of medical office buildings, hospitals, skilled nursing facilities and assisted living facilities has more than tripled, based on aggregate acquisition price,” said Danny Prosky, a principal of American Healthcare Investors and president and chief operating officer of the REIT.

 “With each acquisition, Griffin-American Healthcare REIT II becomes more broadly diversified as we execute our strategic plan to build a well-balanced portfolio of clinical healthcare-related real estate.”

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

Damon Elder
Senior VP, Marketing & Communications
American Healthcare Investors
4000 MacArthur Boulevard
West Tower, Suite 200
Newport Beach, CA 92660

(949) 270-9207 direct
(714) 356-1460 cell

Wednesday, March 6, 2013

Local Real Estate Powerhouse Colliers Completes High Profile Transactions and Wins Listings



MIAMI, FL, March 6, 2013 - Colliers International South Florida showed its versatility and strength in 2012 with nearly $400 million in completed investment sales transaction value, and leased approximately 1.5 million square feet of space.

Transactions covered every facet of commercial real estate from the leasing and sale of industrial, office and retail properties to the purchase and sale of a portfolio of notes collateralized by properties in Florida and New York

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

Crystal Proenza
Vice President of Marketing
Colliers International South Florida
Commercial Real Estate Services
Tel: 305 476 7138

Trepp Reports February CMBS Losses By Property Type and Loan Size



NEW YORK, NY -- On Friday, Mar. 1, Trepp released its February Loss Analysis, showing a slight drop in total liquidation volume but a precipitous decline in the number of loans resolved. Today Trepp breaks down the loss analysis into more detail, specifically by property type and loan size.

In the first table below Trepp breaks out losses by major property type over the last 38 months for all loans. In the second table we eliminate loans with losses of less than 2% of the loan balance, and again submit losses by major property type.

Average Loss Severity by Property Type for Last 38 Months - All Loans



Average Loss Severity by Property Type for Last 38 Months - Losses > 2% of Loan Balance



Next Trepp provides the breakdown of loss volume and severity over the last 38 months broken down by loan size. The first table includes all losses while the second includes only losses greater than 2%.
Average Loss Severity by Loan Size for Last 38 Months - All Loans



Average Loss Severity by Loan Size for Last 38 Months - Losses > 2% of Loan Balance




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

Eric R. Gerard
Senior Vice President
Great Ink Communications
27 Union Square West, Suite 205
 New York, NY 10001
 (212) 741-2977

HC Real Estate Capital Arranges $3 Million Financing for Retail Property in Boca Raton, FL



Glades Pike Shopping Center, Boca Raton, FL
Boca Raton, FL – Kurt Hoffmann and Chris Caveglia of HC Real Estate Capital have arranged $3,000,000 in financing for Glades Pike Shopping Center (GP) located at 8095 Glades Road Boca Raton, FL. 

GP is a 35,120 square foot retail center built in 1981 and currently 100% occupied by Office Depot and Party City.  Financing was arranged through a Correspondent Life Insurance Company relationship.  The 12-year loan replaced a maturing CMBS loan on the property.

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

Chris Caveglia
HC Real Estate Capital, LLC
660 Linton Blvd. Ste 200 EX5
Delray Beach, FL 33444
Direct: 561-266-3273
Mobile: 561-376-3176

Wyndham Hotel Group Donates 250 Free Nights to Hotels for Heroes



Fisher House Foundation's Tennessee Facility
PARSIPPANY, N.J. (March 6, 2013) – U.S. service members seeking medical care at military or VA hospitals will now have access to a greater number of free hotel stays thanks to Wyndham Hotel Group’s recent donation of 1.5 million Wyndham Rewards® points to the Fisher House Foundation and its Hotels for Heroes program, enough for up to 250 free night stays at thousands of hotels around the world.

 With the inclusion of this donation, Wyndham Hotel Group and members of Wyndham Rewards have donated over 15 million points to the program, redeemable for more than 2,500 free room nights.

Presented to representatives of the foundation during a reception last night at the Hawthorn Suites by Wyndham® hotel in Alexandria, Va., the donation was coordinated by members of Wyndham Hotel Group’s Global Sales organization, who were visiting the area as part of meetings with government travel agents.  

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

Joy Gulledge
Public Relations Manager
Wyndham Hotel Group
22 Sylvan Way
Parsippany, NJ  07054
(973) 753-6590

Integrity Home Loan may look outside Florida to fill new loan officer positions with executive training and perks



Matt Malloy
LAKE MARY, FL--- Integrity Home Loan training program initial response has been excellent but Florida’s largest privately-owned residential mortgage provider may now look outside Florida to help fill new positions as loan officer. 

Matt Malloy, president of Integrity Home Loan of Central Florida, Inc., said he’s offering to pay qualified candidates the cost of relocating to Central Florida, subsidize their living expenses, provide an executive training program and offer a first year salary base of $36,000 with potential to double that.

Second year earnings at Integrity Home Loan typically pass the $100,000 mark, Malloy said.

Malloy opened Integrity’s executive training program last year to turn candidates into qualified loan officers.
 In January, Integrity reported it closed on more than 300 mortgage loans that total more than $55 million.

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

Matt Malloy, President, Integrity Home Loan of Central Florida, 407-688-8268 matt.malloy@inthomeloan.com  NMLS #- 161433
Jason Scott, Marketing Manager, Integrity Home Loan, 407-688-6618 jason.scott@inthomeloan.com;
Larry Vershel, Larry Vershel Communications, 407-644-4142, lvershelco@aol.com

Marshall Hotels & Resorts Promotes Getzey to Chief Operating Officer


  
Michael E. Getzey
 SALISBURY, MD,  March 6, 2012—Officials at Marshall Hotels & Resorts, Inc., a leading hotel management and services company that operates properties nationwide, today announced that Michael E. Getzey has been promoted to chief operating officer.  Previously, he was president of the company’s construction and renovation division.

In his new role, Getzey will oversee all operations, sales and marketing for the company’s 50-plus hotel and resort management portfolio.  He will work in tandem with the company’s accounting and development teams. 

“Mike is our longest tenured associate, joining the company in 1981, less than a year after our formation,” said Mike Marshall, president and CEO.  “There isn’t a job that he hasn’t done himself and/or managed within a hotel in his 30-plus years with the company.

Michael Marshall
“He has been involved in the operation of more than 100 hotels in his career here and overseen more than $75 million in construction/renovation projects.”

Getzey’s background in both operations and construction provides the Marshall senior management team with a broader, more distinctive expertise in taking over and operating a hotel. 

He plays an integral role in the acquisition/management takeover process, providing guidance on brand selection and PIP costs.   He also is active in new hotel development, ranging from site selection to construction oversight.

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

  Pat Daly, Jerry Daly, media
 Daly Gray Public Relations
(703) 435-6293


Regal Cinemas Theater Hits the Market at $18.5 Million


  
 ROYAL PALM BEACH, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has received the exclusive listing for a freestanding 76,701-square foot net-leased Regal Cinemas movie theater in Royal Palm Beach, a village in central Palm Beach County, Fla.

The listing price of 18.5 million equates to $241 per square foot.


Lori Schneider

 Lori Schneider, a senior vice president investments in Marcus & Millichap’s Fort Lauderdale office, and Dean Zang and Mark Taylor, both first vice presidents investments in the firm’s Philadelphia office, are representing the seller.

            “The Regal Cinemas movie theater in Royal Palm Springs is situated on an exceptionally large lot in a high-growth location that has little land available for development,” says Schneider.

Dean Zang
“The property has an in-place absolute net lease with rent bumps in both option periods,” adds Zang.

            “The theater features 18 screens, all with stadium seating,” puts in Taylor.

The asset is located with excellent frontage and visibility on 23.6 acres at 1003 N. State Road 7 between Okeechobee Boulevard and Belvedere Boulevard, across from the Breakers Rees Jones golf course and the Mayacoo Lakes Country Club. Florida State Road 7 is a major north-south artery that runs from Miami north through Royal Palm Beach.

Mark Taylor
Traffic counts at the property are 60,000 vehicles per day.

National retailers Walmart, Target, Publix, BJ’s Wholesale Club, Bed Bath & Beyond, Ross Dress for Less and Old Navy are located in the immediate vicinity. 

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

Ben Johnson,
Marketing Director
(925) 953-1736