Velocis Fund Purchases Dallas’ Premier McKinney Place in heart of booming Uptown neighborhood

                        McKinney Place, 3131 McKinney Avenue, Dallas, TX

DALLAS, TX - Velocis, a commercial real estate investment fund, and its investors have purchased 3131 McKinney Avenue, 145,610 square feet of Class A office space in the heart of Dallas’ Uptown neighborhood.

Offering tenants a highly sought after McKinney Avenue address, this institutional-quality asset is the Fund’s ninth portfolio purchase, bringing the total assets under management to more than $240 million.

          Velocis co-founders Jim Yoder, Fred Hamm, Steve Lipscomb, Mike Lewis.

 “McKinney Place is ideally located in one of the most desirable submarkets in Dallas and offers tenants walkability to an unparalleled amenity base along one of the most coveted streets,” said Mike Lewis, Velocis principal and co-founder.

“To further improve on what the building offers tenants, we are planning exciting new additions to enhance the live, work and play experience. Adding this asset to our growing Velocis portfolio offers an excellent opportunity for our investors."

James Esquivel

 The 13-story building is currently more than 90 percent occupied. The property is surrounded by restaurants, upscale residential neighborhoods and some of the city’s best hotels. 

Tenants have immediate access to West Village, the McKinney Avenue Trolley line and can walk or bike to Dallas’ popular Katy Trail. Situated on a six-story parking garage, tenants are afforded views of the surrounding area from all floors.

 HFF represented the seller, a state pension fund advised by Lincoln Property Company in the transaction. Lincoln Property Company will manage the asset and James Esquivel, Jay Bailey and Clint Coe with Jones Lang LaSalle will handle property leasing.

 “This building offers an ideal location for tenants to work in the heart of Dallas’ booming Uptown market,” said James Esquivel, Executive Vice President, Jones Lang LaSalle. “Our team is looking forward to continuing the leasing momentum.”

Uptown Dallas, TX neighborhood

Launched in 2010, Velocis is led by co-founders and principals Fred Hamm, Mike Lewis, Steve Lipscomb and Jim Yoder. In addition to its core-plus fund, Velocis offers advisory services to better serve both investors and real estate clients. 

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

Leigh Goodall Mundinger

Sunwest Communications

214-373-1601

lmundinger@sunwestpr.com

 

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873

krmurphy@hfflp.com

www.hfflp.com

www.twitter.com/hff

www.jll.com

http://velocis.com/.

J. Michael Watson Named Vice President by Marcus & Millichap

  

J. Michael Watson

 CALABASAS, Calif., May 24, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has elected J. Michael Watson vice president, according to John J. Kerin, president and chief executive officer.

“Michael brings extensive knowledge and experience to the position of vice president gained from his time as a successful sales agent and in his management roles with the firm,” says Kerin. “He will continue to be a great resource for our clients and agents in San Antonio, Austin, Oklahoma and New Mexico.”

After serving as a senior agent in Austin, Watson joined Marcus & Millichap’s management team in 2007 as the sales manager of the Houston office.  In May 2008, he became the regional manager of the San Antonio office. Watson assumed the additional role of regional manager of the Austin office in April 2009, and last year began overseeing Marcus & Millichap’s offices in Tulsa, Oklahoma City and Albuquerque.

John J. Kerin

As an agent, Watson was a director of the firm’s National Multi Housing Group and received several internal sales awards, including two national achievement awards.

Before beginning his career with Marcus & Millichap, he served as a U.S. Marine Corps officer for more than 13 years, both on active duty and in the reserves. Watson also worked as a finance controller at Advanced Micro Devices in Austin. He holds a bachelor’s degree in geology and an M.B.A. from Texas A & M University.

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

Ben Johnson

 Marketing Director

(925) 953-1736

Post Properties Announces Quarterly Dividends; Increases Dividend Payout to Common Shareholders by 32 Percent

Dave Stockert

ATLANTA--(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate investment trust, today announced quarterly dividends on its common stock of $0.33 per share for the second quarter of 2013. The dividend is payable on July 15, 2013 to all common shareholders of record as of June 28, 2013.

Said Dave Stockert, CEO and President, “We are pleased to be able to enhance the current return to common shareholders, reflecting the solid growth and profitability of our business. With today’s announcement, we expect our annualized rate of common stock dividends to rise by 32 percent to $1.32 per share.”

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

Post Properties, Inc.

Chris Papa, 404-846-5000

Post Properties Appoints Toni Jennings to Board of Directors and Announces Results of Annual Shareholders Meeting

Toni Jennings

ATLANTA, GA--(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate investment trust, today announced that Ms. Toni Jennings, 64, has been appointed to its Board of Directors, and to its Audit and Executive Compensation and Management Development Committees.

 Ms. Jennings is the chairman of the board of Jack Jennings & Sons, Inc., a family-owned construction business in Orlando, FL which provides general contractor, construction manager and design-build services.

Robert C. Goddard III

She served as Lieutenant Governor of the State of Florida from 2003 to 2007, and served 20 years in the Florida Senate, four as President, and four years in the Florida House of Representatives. She is also past chair of the Florida Chamber of Commerce. Ms. Jennings is a member of the boards of directors of publicly-traded NextEra Energy, Inc. (NYSE: NEE) and Brown & Brown, Inc. (NYSE: BRO).

Said Bob Goddard, Chairman of the Post Board of Directors, “Toni Jennings is an individual of outstanding experience and accomplishment. We are delighted to be bringing her skill and unique perspective to the work of the Post board.”

Post Properties also today announced that shareholders at the Company’s Annual Meeting elected the Board’s seven nominees, voted to approve, on an advisory basis, executive compensation, and ratified the appointment of Deloitte & Touche LLP as the Company’s independent registered public accountants for 2013.

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

Post Properties, Inc.

Chris Papa, 404-846-5000

Lincoln Brokers 5,600 Square Feet of Leases at 3405 Piedmont in Atlanta’s Buckhead Submarket

         

                                                   3405 Piedmont, Atlanta, GA

  

ATLANTA, GA (May 24, 2013) – Lincoln Property Company Southeast (Lincoln) has brokered two leases totaling 5,600 square feet at 3405 Piedmont in Atlanta’s Buckhead submarket.

Leigh Braswell

 Leigh Braswell, a vice president at Lincoln Property Company Southeast, and Sabrina Altenbach, a senior leasing associate with the firm, represented Colony Realty Partners, the owner of the building, in the transactions.

 Included among the deals:

• Emerald Coast signed a new lease for 3,000 square feet.

• Risk Lighthouse signed a new lease for 2,600 square feet.

 The Class-B, five-story 3405 Piedmont features easy access to Georgia 400, Peachtree Road, Lenox Mall and Phipps Plaza. It also offers tenants free covered parking, key-card access and 20 restaurants within walking distance. Upgrades to the building’s landscaping and finishes are underway. In addition to providing leasing services for 3405 Piedmont, Lincoln also manages the building.

Sabrina Altenbach

 The two new leases come on the heels of Adrenaline signing a 7,900-square-foot new lease at 3405 Piedmont earlier this spring. Adrenaline just moved into 3405 Piedmont, and the building’s occupancy rate is now more than 90 percent.

 “3405 Piedmont is an office property that really has a lot going for it, including a recovering Class-B office market and a location in one of Atlanta’s most desirable office submarkets,” Altenbach said. 

“Combine those factors with our aggressive leasing and management program, and we are extremely excited about and confident in the future of this building.”

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

Stephen Ursery

The Wilbert Group

404-405-2354

sursery@thewilbertgroup.com

 http://blog.lpcsoutheast.com

www.lpcsoutheast.com

Annaly Completes Acquisition of CreXus – CreXus to be Renamed Annaly Commercial Real Estate Group

 NEW YORK, NY--(BUSINESS WIRE)-- Annaly Capital Management, Inc. (NYSE: NLY) (“Annaly”) announced today that it has completed its acquisition of CreXus Investment Corp. (NYSE: CXS) (“CreXus”). Annaly’s commercial real estate business will be operated under the name Annaly Commercial Real Estate Group.

Annaly acquired CreXus pursuant to an Agreement and Plan of Merger dated January 30, 2013. In accordance with that agreement, CreXus was today merged with a newly formed CreXus subsidiary in a transaction in which Annaly became the sole stockholder of CreXus and the persons who owned CreXus common stock immediately before the merger became entitled to receive cash equal to $13.05206 for each share of CreXus common stock that they owned immediately prior to the merger.

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

Annaly Capital Management, Inc.

Investor Relations

1-888-8Annaly

www.annaly.com

Morrison Commercial Real Estate Complets Two Lease Transactions in Orlando, FL Totaling 10,707+ SF

                                     Gateway Center, 1000 Legion Place, Downtown Orlando, FL

ORLANDO, FL (MAY 23, 2013):  Morrison Commercial Real Estate announced the completion of two lease transactions totaling 10,707± square feet.

Emily Zinaich

Emily Zinaich of Morrison Commercial Real Estate represented the landlord in leasing 8,850± square feet to Aerial Cartographics of America, Inc. at 423 South Keller Road, Orlando, FL.  Derek Greulich and Andy McCaw of Mohr Partners represented the tenant in this transaction.

 Zinaich also represented the landlord in leasing 1,857± square feet at the Gateway Center building located at 1000 Legion Place in Orlando, FL.  Tony Guglielmi and Mark Stratman of Jones Lang LaSalle Brokerage, Inc. represented the tenant, ZipRealty, Inc. in this transaction.   

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

Marylyn Tryon

Administrator and Marketing Assistant

Morrison Commercial Real Estate

255 S. Orange Avenue, Suite 1545

Orlando, Florida 32801

407.219.3500 | 407.219.3501 fax

407.440.6639 Direct Dial (Please Note)

mtryon@morrisoncre.com

www.morrisoncre.com

Cousins Properties Breaks Ground on Austin, TX Office Tower

                                        Colorado Towers rendering, Downtown Austin, TX

Larry Gellerstedt

AUSTIN, TX -- Cousins Properties Incorporated (NYSE: CUZ) has commenced construction on Colorado Tower, a 371,000-square-foot, Class-A office development in Downtown Austin, Texas.

 The 29-story building, designed by Duda/Paine Architects, will be the first high-rise tower built in Austin since Cousins developed Frost Bank Tower in 2003. The formal ground breaking ceremony is scheduled for June 4th.

“We have a long, successful history in Austin and are very excited about the prospects for Colorado Tower,” said Larry Gellerstedt, President and Chief Executive Officer of Cousins. “This building – with its great location and best-in-class amenity package – is particularly well positioned to capitalize on the vibrant market in Austin’s central business district.”

Frost Bank Tower, Downtown Austin, TX

Located in the heart of Downtown Austin’s Warehouse District, Colorado Tower will offer a variety of amenities, including a top quality fitness facility and state-of-the-art conference center. 

The building is being developed under the Austin Energy Green Building 2 star program and will be substantially complete by December 2014.

Pre-leasing activity has been strong, with two high-profile companies – DuBois, Bryant & Campbell LLP and Scott, Douglass & McConnico LLP – officially committed to the building and several other prospective tenants in active discussions.

Palisades West, Austin, TX

Cousins has played a prominent role in the Austin real estate market for more than 20 years, with a list of notable projects including Frost Bank Tower, Palisades West, and the recent acquisition of 816 Congress.

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

Cousins Properties Incorporated

Tim Hendricks, 512-477-3434

Senior Vice President

timhendricks@cousinsproperties.com

or

Cameron Golden, 404-407-1984

Vice President, Investor Relations and Corporate Communications

camerongolden@cousinsproperties.com

Lincoln Wins Assignment to Lease and Manage 1165 Northchase Parkway in Metro Atlanta

                                 1165 Northcase Parkway, Marietta, GA

 ATLANTA, GA (May 23, 2013) – Lincoln Property Company Southeast (Lincoln) has been awarded the exclusive leasing and property management assignment for 1165 Northchase Parkway, a four-story, 89,568-square-foot office building in Marietta, Ga., in metro Atlanta’s Cumberland/Galleria submarket.

Hunter Henritze

 JP Partners is the new owner of the building, which is the second metro Atlanta asset purchased by the Dallas-based firm; the company acquired Parker Court Business Park in Stone Mountain in 2012. 1165 Northchase is part of the Northchase Office Park located near the intersection of interstates 285 and 75.

 Hunter Henritze, vice president of office leasing for Lincoln, and Jeff Henson, a senior associate in the firm’s Office Leasing Group, will lease the building, which features several move-in-ready spec suites and can offer two full floors (50,000 square feet) of contiguous space.

Lincoln will oversee a robust capital improvement plan that will include renovations to restrooms and common areas, as well as enhancements to the building’s operating systems.

Jeff Henson

 “We are tremendously excited about this assignment and are extremely appreciative of the confidence shown in our team by JP Partners,” said Tony Bartlett, a senior vice president for Lincoln who oversees the firm’s Atlanta office.

 “We believe this asset fills a niche in the I-75 office corridor, and this unique location, coupled with new, best-in-class finishes, will ensure success in leasing the building.” 

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

Stephen Ursery

The Wilbert Group

404-405-2354

sursery@thewilbertgroup.com

http://blog.lpcsoutheast.com

lpcsoutheast.com

Marcus & Millichap Names Tony Solomon Vice President

  

Tony Solomon

 CALABASAS, Calif., May 23, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Tony Solomon vice president, according to John J. Kerin, president and chief executive officer.

“Tony brings extensive knowledge and experience to the position of vice president gained from his time as a successful sales agent and in his management roles with the firm,” says Kerin. “He will continue to be a great resource for our clients and agents in Los Angeles and throughout Southern California.”

Solomon serves as regional manager of the firm’s West Los Angeles office, a position he has held since 2011.

John J. Kerin

Solomon began his career with Marcus & Millichap in May 1998 as an investment property specialist in the firm’s Los Angeles office. He became the sales manager of the Los Angeles office in July 2000.

After leaving the firm in 2001 and earning recognition as a top multifamily broker at two other commercial real estate companies, Solomon returned as sales manager of Marcus & Millichap’s West Los Angeles office in 2010.

Prior to joining Marcus & Millichap, Solomon worked for several years as a land use consultant for a number of domestic oil companies. He is also a feature-length film screenwriter and member of the Writers Guild of America, West.

Solomon graduated from the University of California, Santa Barbara with a degree in political science, with an emphasis in international relations and a minor in Japanese.

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

Ben Johnson

Marketing Director

(925) 953-1736

National Retail Properties, Inc. Prices Depositary Shares Representing Series E Cumulative Redeemable Preferred Stock

                                    New York Stock Exchange Trading Floor

ORLANDO, FL /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN) (the "Company") today announced that it has priced an underwritten public offering of 10,000,000 depositary shares, each representing a 1/100th interest in a share of its newly designated 5.70% Series E Cumulative Redeemable Preferred Stock, at a price of $25.00 per depositary share.

  

As part of the offering, the Company granted the underwriters a 30-day option to purchase an additional 1,500,000 depositary shares to cover over-allotments, if any.  The offering is expected to close on or about May 30, 2013, subject to customary closing conditions.

 The Company intends to apply to list the depositary shares on the New York Stock Exchange under the symbol "NNNPRE".  If its application is approved, the Company expects trading of the depositary shares on the New York Stock Exchange to commence within the 30-day period after the initial delivery of the depositary shares.

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

 investorrelations@nnnreit.com

40,659-SF Shopping Center Building in Tampa, FL Sells for $5.4 Million

                                   Terrace Oaks Plaza, Tampa, FL

 TAMPA, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Terrace Oaks Plaza, a 40,659-square foot shopping center located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The $5,400,000 sales price equates to $133 per square foot.

James Medefind

James Medefind and Patrick Whitney, investment specialists in Marcus & Millichap’s Tampa, Florida and Dallas, Texas office, had the exclusive listing to market the property on behalf of the local seller, a private investor.  Medefind procured the international buyer, a partnership based in Canada.

Terrace Oaks Plaza was built in 1986 and is located at 11301 North 56th Street.  This fully stabilized shopping center is located within walking distance of the University of South Florida, one of the nation’s largest universities.  Other nearby attractions includes Busch Gardens, Adventure Island, the Museum of Science and Industry (MOSI) and the Sun Dome.

Patrick Whitney

“Financing was a key element in getting this deal closed.  Non-recourse financing is available again for quality, stabilized assets,” said Medefind in a statement.  “There were a total of nine offers from a mix of local and international investors.” 

He adds, “The seller benefited from our ability to access capital from outside markets and we found a seasoned foreign buyer who was able to purchase a quality deal here in Florida.”

.

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

Richard D. Matricaria

Regional Manager

 Tampa, FL

(813) 387-4700

Serial Entrepreneur Randy Frey is Keynote Speaker at June 12 Forum in Winter Park, FL hosted by Rollins College CFAE, GrowFL and CEO Nexus

                   Rollins College Center for Advanced Entrepreneurship, Winter Park, FL

Winter Park, FL(May 23, 20123) -- Randy Frey, a serial entrepreneur who turned his expertise in lasers and electro-optics into a billion-dollar corporation, will be the keynote speaker at a forum of area CEOs and corporate principals hosted by Rollins College Center for Advanced Entrepreneurship, GrowFL and CEO Nexus on June 12.

Randy Frey

Frey, a former aerospace engineer and member of the NASA Space Technology Hall of Fame, is a founding sponsor and member of the board of directors of the Center for Advanced Entrepreneurship at the Crummer Graduate School of Business at Rollins College.

Steve Quello, president of CEO Nexus, said Frey is the founder of Autonomous Technologies, which developed advanced technologies that revolutionized cataract and Lasik surgery. 

The CEO Forum begins at 6 p.m. at Rollins College at Winter Park Plaza on Fairbanks Ave.    Quello said area CEOs and corporate principals invited to attend the Rollins Forum should be registered at info@CEONexus.com.    

Steve Quello

“Getting up close and personal with industry leaders like Randy Frey is a rewarding experience for all who are fortunate enough to attend this forum,” said Dr. Tom O’Neal, executive director of GrowFL and associate vice president for Research and Commercialization at UCF.

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

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

www.ceonexus.com

www.GrowFL.com

.       

HFF secures $25.2 million financing for power center in California’s Inland Empire

                                       Ontario Gateway Center, Ontario, CA

LOS ANGELES, CA – HFF announced today that it has secured $25.2 million in financing for Ontario Gateway Center, a 220,930-square-foot power center in Ontario, California.

Paul Brindley

HFF worked on behalf of the borrower, an affiliate of Zelman Development Company and Grayburn Properties, to secure the 10-year, 3.75 percent, fixed-rate loan through Deutsche Bank. 

Ontario Gateway Center is located at 4420 Ontario Mills Parkway, directly across from the Ontario Mills Mall and just east of the Ontario airport.  Built in 1999, the property consists of 10 buildings situated on a 22.9-acre site. The 100 percent occupied property is anchored by Toys “R” Us and Babies “R” Us with Ross set to take occupancy in late 2013.

Ontario Mills Mall, Ontario, CA

The HFF team was led by senior managing director Paul Brindley and real estate analyst Steven Paskhover.   

Zelman Development Co. is a privately-owned commercial real estate development company headquartered in Los Angeles, California. 

  Founded in the early 1960’s, the company is now a diversified development/investment company with diverse holdings of retail, industrial, hotel, office and other asset classes. 

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

www.zelman.com.

Beech Street Capital Closes $18 Million Freddie Mac Loan for Orlando, FL Apartments

 

                                           Cornerstone Apartments, Orlando, FL

BETHESDA, MD – Beech Street Capital, LLC, announced today that it closed a $18.0 million Freddie Mac fixed-rate loan for the acquisition of the Cornerstone Apartments, a 430-unit garden-style apartment complex in Orlando, Florida.  

Mitch Sinberg

Senior Vice Presidents Mitch Sinberg and Michael Wallace, headquartered in Beech Street’s Fort Lauderdale office, originated the transaction. 

 The property had been lender-owned since March 2010 and managed by a third-party management company, which had been successful in raising occupancy and enhancing overall performance.

  The borrowers are committed to increasing the economic return on the property even further, instituting a capital improvement program to eventually renovate all units.

Michael Wallace

“The borrowers’ demonstrated commitment to improving the property was a factor that weighed favorably with Freddie Mac,” says Wallace.  “This helped us accelerate the process so that they closed within the terms of their purchase and sale agreement.”

 The borrowers’ improvement plans include  kitchen and bath upgrades, installation of washer/dryers in all units, new cabinetry, countertops and fixtures, wood plank flooring, stainless appliances, ceiling fans, wood blinds, and two-tone paint as well as common area amenities including the fitness center and pool updates. 

 The fixed-rate loan has a 10-year term, two-year interest-only period, yield maintenance of 9.5 years, and a 30-year amortizing schedule.

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

 Courtney Lewis at

240-507-1948

Jenifer Bernardi  

240-507-1946.

 www.beechstcap.com