Thursday, December 4, 2014

Midwest Experts Look Ahead to 2015 Residential Real Estate Trends


David Wolf
CHICAGO, IL – Building on the positive momentum of 2014, which saw a strengthening for-sale market with Chicago-area home prices up and on par with 2003 numbers, as well as continued demand for new rental options, with Class A downtown apartments averaging 93.8 percent occupancy, Chicago-area real estate experts are looking ahead to 2015 with optimism.

 Here are the top trends they anticipate shaping the 2015 real estate landscape: 

1.    Condos Make a Comeback: As buyer confidence grows and lending restrictions decrease, condominium sales – and pricing – will see an uptick in 2015.

 “There’s strong demand, but new construction has been nearly non-existent since the downturn, and condo inventory is at its lowest level since tracking began in 1997,” said David Wolf, president of Related Realty. “That spells opportunity for developers, and we’re starting to see new projects announced.”


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


Kim Manning, kmanning@taylorjohnson.com, 312-267-4527
Sarah Lyons, slyons@taylorjohnson.com, 312-267-4520

Voit Real Estate Services Directs $9.1 Million Sale of 147,903-SF, Multi-Tenant Industrial Property in Las Vegas


Kevin J. Higgins
Las Vegas, NV – Kevin J. Higgins, Garrett Toft and  Zac Zaher of Voit Real Estate Services’ Las Vegas office successfully directed the $9.1 million sale of a 147,903 square-foot multi-tenant industrial property in Las Vegas on behalf of the seller, Terra Grandis, LLC & The Tiberti Company.

The buyer, BKM Capital Partners LP, intends on repositioning the property for stabilization, according to Higgins, an Executive Vice President in Voit’s Las Vegas office.

 “This asset is in an excellent location and was in need of a large capital commitment in order to address some deferred maintenance,” stated Higgins. 

“BKM Capital Partners will rebrand the project and reposition vacant suites into the lease ready units the market has grown to expect.  

"Given the close proximity to the resort corridor and the strong rebound underway in the local economy, BKM Capital Partners should have no problems stabilizing the asset.”

Garrett Toft
 The property is located at 4301 and  4325 S. Valley View Blvd. in Las Vegas, Nevada.


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


Jessamyn J. Miller | Marketing Manager
Voit Real Estate Services
101 Shipyard Way | Newport Beach, CA 92663
T (949) 566-6422 | C (949) 929-7147
Voit Real Estate Services, Broker License #01333376

Wednesday, December 3, 2014

Griffin-American Healthcare REIT II Completes $4 Billion Merger

  
Jeff Hanson

  IRVINE, CA (Dec. 3, 2014) – American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT II (“Griffin-American”), announced today the completion of the previously announced merger between Griffin-American and NorthStar Realty Finance Corp. (“NorthStar Realty”). 

Pursuant to the terms of the merger agreement, NorthStar Realty acquired all of the outstanding shares of Griffin-American in a stock and cash transaction valued at $4 billion.

Merger proceeds to Griffin-American stockholders will be comprised of approximately two-thirds cash and one-third common stock of NorthStar Realty (NYSE: NRF).

“From the acquisition of our first asset in 2010, we were completely focused on the eventual exit and ultimate outcome for our stockholders,” said Jeff Hanson, former chairman, chief executive officer, and largest stockholder of Griffin-American Healthcare REIT II. 

“We executed our strategy in a disciplined manner, building a premium international portfolio of diversified healthcare assets and delivering an attractive total return to our investors. We are very pleased with the results.”

Danny Prosky
The Griffin-American Healthcare REIT II portfolio is comprised of 289 buildings diversified across 32 states, the United Kingdom and all four clinical asset classes: medical office buildings, senior housing, skilled nursing facilities and hospitals.

 As of Sept. 30, 2014, the REIT’s non-RIDEA portfolio was approximately 95 percent leased with a weighted average remaining lease term of 9.2 years and leverage (total debt divided by total assets, based upon aggregate acquisition price) of just 18.6 percent.

“The REIT experienced tremendous growth, particularly during 2012 and 2013 when it raised in excess of $600 million and $1.7 billion in equity capital, respectively,” said Danny Prosky, former president and chief operating officer of the REIT. 

“This industry-leading capital formation fueled the acquisition of more than $2.3 billion of institutional-grade acquisitions internationally over the same period, positioning the REIT with the size and scale necessary to execute such an accretive exit for stockholders so quickly.”

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

Damon Elder                                                                                              
(949) 270-9207

HFF arranges financing totaling $72.256 million for Cobb West Business Park in Austell, GA


Cobb West Business Park, Austell, GA
DALLAS, TX – HFF announced it has arranged acquisition financing totaling $72.256 million for Cobb West Business Park, a 16-property industrial portfolio totaling 1,726,199 square feet in Austell, Georgia, a suburb west of Atlanta.

               HFF worked on behalf of the borrower, High Street Realty Company, LLC and an institutional joint-venture partner.   

The financing was structured as a $61.256 million senior mortgage through SunTrust Bank and an $11 million mezzanine loan through Principal Global Investors. 

               Cobb West Business Park is located south of Interstate 20 at 960, 980, 1080, 1218, 1220 and 1230-A, B and C Six Flags Road; 7800, 7895, 7950 and 7995 Third Flag Parkway and 7948, 7990, 8005 and 8015 Second Flag Drive. 

Brian Carlton
The business park is approximately a 10-minute drive from I-285 and is approximately 15 minutes from Interstates 75 and 85, downtown Atlanta and Hartsfield-Jackson Atlanta International Airport.  

The HFF team was led by senior managing director Brian Carlton and director Gregg Shapiro. 

               High Street Realty Company, LLC (HSRC) is a recognized private equity real estate investment management company with an experienced management team and institutional investment platform.    

High Street has attracted capital from leading foreign and domestic institutional investors for both its joint ventures and discretionary investment funds, and has acquired over $1.3B of industrial properties.


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

HFF closes sale of and arranges financing for Class AA office property in Uptown Dallas, TX


3811 Turtle Creek, Turtle Creek Boulevard and Blackburn Street
 Uptown Dallas, TX
 
DALLAS, TX – HFF announced it has closed the sale of and arranged financing for 3811 Turtle Creek, a 296,000-square-foot, Class AA office tower in Dallas’ Uptown area.

               HFF marketed the asset on behalf of the seller, MetLife Real Estate Investors.  KBS Capital Advisors purchased the property for an undisclosed amount.

 HFF’s debt placement team also secured a seven-year, 3.55 percent, fixed-rate acquisition financing on behalf of the new owner through a life insurance company. 

Dallas, TX skyline
               3811 Turtle Creek is situated on a 5.03-acre site at the intersection of Turtle Creek Boulevard and Blackburn Street adjacent to the Turtle Creek Village mixed-use development currently under construction. 

This location is within blocks of West Village and the Katy Trail, and is close to Highland Park, one of the most affluent residential areas in the state of Texas. 

  The 21-story, recently-renovated property features a fitness center, and parking within an adjacent 899-space garage.

  Tenants at the 81 percent leased center include Eagle Materials, Inc.; Prosperity Bank; Estes Okon Thorne & Carr; and Gables Residential.

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


Arbor Funds $86.9M Across West in Fannie Mae Multifamily Transactions


Jay Porterfield
UNIONDALE, NY (Dec. 3, 2014) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, and a national, direct commercial real estate lender, announced the recent funding of 16 loans totaling $86,912,000 across the western U.S. under the Fannie Mae Delegated Underwriting & Servicing (DUS®) Loan, Fannie Mae DUS Small Loan, Fannie Mae DUS Affordable Housing, Fannie Mae DUS Supplemental and Fannie Mae DUS ARM 7/6™ product lines.

All of the loans, which stretch from Texas to California, were originated by Jay Porterfield, Vice President in Arbor’s Plano, TX, office.

“As a national direct lender, Arbor has comprehensive market expertise throughout the country, including in such multifamily hotbed markets as Colorado, California and Texas,” Porterfield said.

“As demonstrated by this diverse portfolio of loans, Arbor is providing the personal service and expertise needed for investors to take advantage of today’s strong market conditions.”
  
Hahn Triplexes, Modesto, CA
·         Stonebridge Apartments, Modesto, CA – This 286-unit multifamily property received $16,750,000 funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. The property provides residents with a swimming pool, spa, clubhouse, playground and laundry room.
  
·         Hahn Triplexes, Modesto, CA – This 33-unit multifamily property received $3,000,000 funded under the Fannie Mae DUS Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

 ·         Lamar Station Apartments, Lakewood, CO – This 130-unit multifamily property received $6,350,000 funded under the Fannie Mae DUS Loan product line. The seven-year refinance loan amortizes on a 30-year schedule. The property features a playground and dog park for residents.
  
Lamar Station Apartment, Lakewood, CO
·         Vistas at the Citadel, Colorado Springs, CO – This 210-unit multifamily property received $5,400,000 funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. Resident amenities include two pools, two common laundry facilities, a dog park, a playground and a barbeque area.
  
·         Village Green Apartments, Greeley, CO – This 120-unit multifamily property received $2,500,000 funded under the Fannie Mae DUS Supplemental Loan product line. The 12-year, 10-month supplemental loan amortizes on a 30-year schedule. The complex features a pool and grill area.

Fountain Garden Apartments, Pueblo, CO
·         Fountain Garden Apartments, Pueblo, CO – This 75-unit multifamily property received $2,480,000 funded under the Fannie Mae DUS Small Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule. The apartment building provides a common laundry center as well as a playground,   basketball court and picnic area for residents.
  
·         High Meadow Apartments, Durant, OK – This 208-unit multifamily property received $10,950,000 funded under the Fannie Mae DUS Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule. There is a clubhouse, a swimming pool, a laundry facility, a basketball court, barbeque grills, a playground and a fitness center available on the property.

Mansions South Apartments, Moore, OK
·         Sunnyview Apartments, Oklahoma City, OK – This 224-unit multifamily property received $6,325,000 funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
  
·         Mansions South Apartments, Moore, OK – This 146-unit multifamily property received $4,205,000 funded under the Fannie Mae DUS Loan product line. The 25-year acquisition loan amortizes on a 25-year schedule. Property features include washer/dryer connections with appliances in each unit, patios/balconies, a swimming pool, a fitness center, a basketball court, a playground, picnic areas and a dog park.
  
Copper Creek Apartments, Fort Worth, TX
·         Trafalgar Square Duplexes, Oklahoma City, OK – This 44-unit multifamily property received $3,050,000 funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
  
·         McKinney Park Apartment Homes, Denton, TX – This 250-unit multifamily property received $8,535,000 funded under the Fannie Mae DUS Affordable Housing Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule. Residents have access to a pool, a volleyball court, a playground, a business center and on-site parking.

·         Copper Creek Apartments, Fort Worth, TX – This 274-unit multifamily property received $6,200,000 funded under the Fannie Mae DUS ARM 7/6 Loan product line. The seven-year refinance loan amortizes on a 30-year schedule. The property features two swimming pools and two laundry rooms.
  
Cimarron Apartments, Canyon, TX
·         Chaparral Apartments, Fort Worth, TX – This 134-unit multifamily property received $3,492,000 funded under the Fannie Mae DUS Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.
  
·         Cimarron Apartments, Canyon, TX – This 128-unit multifamily property received $2,675,000 funded under the Fannie Mae DUS Small Loan product line. The 30-year refinance loan amortizes on a 30-year schedule. The complex features a swimming pool, a central laundry facility and on-site parking.
  
·         Madera Lakeside, Arlington, TX – This 192-unit multifamily property received $2,500,000 funded under the Fannie Mae DUS Supplemental Loan product line and was funded to accommodate an acquisition of the property. The seven-year, 10-month supplemental loan amortizes on a 30-year schedule. Madera Lakeside Apartments is a garden-style apartment community that provides a swimming pool as well as a lake for its residents.

Madera Lakeside Apartments, Arlington, TX
·         Sandridge Apartments, Roy, UT – This 48-unit multifamily property received $2,500,000 funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.


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

Christopher Ostrowski

HFF closes $23.8 million sale of Parkwood Place Apartments in Newark, NJ


Parkwood Place Apartments, Forest Hill Neighborhood, 368 Mount Prospect Avenue
Newark, NJ


Jose Cruz
FLORHAM PARK, NJ – HFF announced it has closed the $23.8 million sale of Parkwood Place Apartments, a 294-unit mid-rise apartment community in the Forest Hill neighborhood of Newark, New Jersey.

HFF marketed the property on behalf of the seller, a joint venture between Alex Brown Realty and Treetop Development.  The buyer purchased the asset for $23.8 million or approximately $80,952 per unit.

Parkwood Place Apartments is comprised of seven six-story buildings containing 71 studio, 147 one-bedroom and 76 two-bedroom units. 

Most recently renovated between 2007 and 2014, the property is located at 368 Mount Prospect Avenue, approximately 10 minutes from downtown Newark and 25 minutes from Manhattan via the Holland Tunnel. 


Andrew Scandalios
This gated community also includes views of the New York City skyline, covered parking and a large well-manicured central courtyard. 

The HFF investment sales team representing the seller was led by senior managing directors Jose Cruz and Andrew Scandalios, managing director Kevin O’Hearn and associate director Michael Oliver.

“With this transaction, the buyer has made an excellent investment in an asset with considerable upside in a growing market,” said Cruz.

Alex Brown Realty, Inc. (ABR) is a privately-owned real estate investment manager organized in 1972 and headquartered in Baltimore, Maryland.  ABR co-invests with clients and joint venture partners in properties located throughout the United States.

Kevin O'Hearn
 For four decades, in virtually all types of real estate and under widely varying economic conditions, ABR has represented the interests of its clients, maximizing the value of their real estate investments.  ABR is an SEC-registered investment advisor.

Treetop Development is a multi-faceted real estate company that has earned a strong reputation for redeveloping value-driven, residential buildings in key urban centers throughout the New York metropolitan area.  

Treetop and its principals have owned and self-managed more than 2,000 residential units in New York and New Jersey.


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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

HFF closes $13.35 million sale of multi-housing community in Battle Ground, WA


Seasons on the Park Apartments,  Battle Ground, WA



Tyler Linn
PORTLAND, OR – HFF announced it has closed the sale of Seasons on the Park, a 120-unit, garden-style multi-housing community in Battle Ground, Washington.

                HFF marketed the property on behalf of Transpacific Investments, LLC.  SOP LLC, a private investor, purchased the community for $13.35 million free and clear of existing debt.

                Completed in two phases between 2012 and 2014, Seasons on the Park is 95 percent leased and has one-, two- and three-bedroom units averaging approximately 853 square feet each.  Community amenities include a clubhouse and carports. 

Situated on 3.92 acres at 1307 SE 9th Drive, the property is adjacent to Battle Ground Village, a “shop here, dine here, live here” lifestyle center, and is approximately 15 miles northeast of downtown Vancouver, Washington and 24 miles northeast of downtown Portland.

Nick Klein
                The HFF investment sales team was led by associate directors Tyler Linn and Nick Klein and director Ira Virden.

Transpacific Investments, LLC is a commercial real estate investment company targeting value-added properties in the Pacific Northwest.  The company services the commercial real estate investment allocation needs of high-net-worth individuals, trusts and institutions


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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

HFF closes sale of Flats 130 at Constitution Square in Washington, DC


Flats 130 at Constitution Square, Washington, DC

Stephen Conley

WASHINGTON, DC – HFF announced it has closed the sale of Flats 130 at Constitution Square, a 643-unit, Class A multi-housing community with a 50,000-square-foot Harris Teeter grocery store and 2,708 square feet of ground-floor retail in Washington, D.C.’s NOMA neighborhood.

                HFF marketed the property on behalf of the seller, a joint venture between StonebridgeCarras and an affiliate of Walton Street Capital, L.L.C. (“Walton Street”).  TIAA-CREF purchased the asset.

                Flats 130 at Constitution Square is located at the intersection of 1st and M Streets, NE adjacent to the NoMa-Gallaudet U Metrorail station. 

Completed in two phases between 2010 and 2013, the property’s ground-floor retail space is anchored by a 50,000-square-foot Harris Teeter supermarket. 

David Nachison
The amenity-rich community includes a rooftop swimming pool, rooftop grilling/picnic areas, two-story fitness center with yoga studio, club room with pool tables and game room, expansive courtyards, dog park, concierge service, and rooftop views of the US Capitol, Washington Monument, Union Square and the Library of Congress. 

Flats 130 is located within the 2.5 million-square-foot, LEED-ND Gold certified Constitution Square mixed-use development, which includes office, retail, residential and hotel space.

                The HFF investment sales team representing the seller was led by executive managing director Stephen Conley, senior managing directors Dave Nachison and Alan Davis, associate directors Brenden Flood and Bret Thompson.

                “Flats 130 is one of the highest quality residential buildings in the District positioned within the NoMa neighborhood that is widely regarded as one of Washington, D.C.’s most up-and-coming locales,” said Davis.

Alan Davis
                “TIAA-CREF clearly recognized in Flats 130 the very attractive combination of a trophy quality asset with immediate metro access and potential for outsized growth with an increasing number of residents, employers and retailers looking to call NoMa home,” added Nachison.

                StonebridgeCarras is a privately-held real estate investment and development firm based in Bethesda, Maryland focusing primarily on developing mixed-use properties in the Washington, D.C. metropolitan region.  

During the past 20 years, the principals of StonebridgeCarras, LLC have been involved in the acquisition, development, joint venture, financing, and disposition of real estate assets in the Washington area exceeding $5 billion in value.

                Walton Street is a private equity real estate investment firm based in Chicago.  Since its founding in 1994, affiliates of Walton Street have received total equity commitments of more than $8.3 billion from public and corporate pension plans, foreign institutions, insurance companies and banks, endowments and foundations, trusts, and high-net-worth individuals.  

Brenden Flood
Through its affiliates, Walton Street has invested and/or committed to invest $7.5 billion of equity in more than 275 separate transactions in U.S. and international real estate, including the development and acquisition of office, hotel, retail, industrial, multifamily, for-sale residential, senior and student housing, gaming and other assets through both individual, portfolio and company-level transactions with a gross asset cost of more than $21 billion.      
TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with $840 billion in total assets under management (as of 10/1/2014) and is the leading provider of retirement services in the academic, research, medical and cultural fields. 

  TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC, Members FINRA and SIPC, distribute securities products. C20775



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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

Tuesday, December 2, 2014

Award-Winning Model Homes Now Open at Lexington Hills of Palatine in Palatine, IL


Jeff Benach
CHICAGO, IL (Dec. 2, 2014) – Chicago-based Lexington Homes has opened three model homes at Lexington Hills, a community of 51 townhomes in Palatine, Ill.

 Two of the model homes have been professionally decorated by award-winning Eleni Interiors of Naperville, and the community itself recently won four Key Awards from the Home Builders Association of Greater Chicago for Excellence in Architectural Design.

Located on Lake Cook Road, a quarter mile west of the intersection of Lake Cook Road and Route 12, the community offers two-story townhomes in three floor plan designs with three bedrooms, 2½ baths, basements and two-car garages. Base-priced from $297,490 to $328,490, the townhomes measure 1,711 to 1,905 square feet.

“The plans at Lexington Hills were new designs created specifically for this community, and so far buyer response has been fantastic with 95 percent of homes in phase one sold and more than 80 percent of phase two homes sold,” said Jeff Benach, co-principal of Lexington Homes.

“It’s also nice to have these efficient and attractive models recognized by Chicago’s homebuilding community with Lexington Hills’ four Key Awards.

“We take great pride in the communities we build and our buyers at Lexington Hills should feel good about these awards, too, because it reassures them they are living in an award-winning development.”


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

Kelly Shumaker kshumaker@taylorjohnson.com, 312-267-4519
Emily Johnson, ejohnson@taylorjohnson.com, 312-267-4522

HFF arranges $157 million construction financing for the SLS Brickell Hotel and Residences in Miami, FL


Jorge M. Perez
MIAMI, FL – HFF announced today that it has secured a $157 million construction financing for the SLS Brickell Hotel and Residences, a 51-story mixed-use hotel and condominium tower in downtown Miami.

               HFF worked exclusively on behalf of the developers, a joint venture between Related Group and sbe Hotel Group (sbe) to secure the $157 million loan through Canyon Capital Realty Advisors.

               SLS Brickell Hotel and Residences is situated on a 1.3-acre site at 1300 South Miami. 

Due for completion in 2016, the property will contain 453 SLS-branded condominium residences and 124 SLS hotel keys in addition to three luxury restaurants.

World-renowned creator and architect Phillipe Starck is designing the hotel’s interiors, which will feature a gym, spa, pool deck with separate hotel and residence areas, a 6,000-square-foot ballroom, 2,000 square feet of meeting space, roof-top pool and outdoor roof-top dining, and a triple-height drop off area with valet parking.

Sam Nazarian
The HFF team was led by executive managing director Manuel de Zárraga, director Max Comess and associate director Scott Wadler.

“The financing of the SLS Brickell is a significant development that underlines the market’s confidence in the depth of the Brickell neighborhood and the future of the downtown hotel market,” Comess said.  

“The project represents the first stand-alone, mixed-use hotel and branded-residential tower to be capitalized off the beach in Miami this cycle.”

HFF’s Hotel Group has been active in the sale and financing of similar hotels across the country.  

In the first three quarters of 2014, the firm financed or sold 74 hotels and resorts with total transaction volume totaling nearly $1.98 billion. The group is presently involved in numerous Florida Keys and South Florida hotel and resort transactions.

Phillipe Starc
Led by founder, chairman and CEO Jorge M. Perez, The Related Group (Related) is one of the nation’s leading developers of condominiums and multi-family residences. 

Since its founding more than a quarter of a century ago, Related has developed more than 80,000 apartment and condominium residences and is one of the largest privately-owned companies in Florida. 

sbe is a global hospitality and entertainment company helmed by visionary founder, chairman and CEO Sam Nazarian, which comprises a thriving collection of award-winning hotels, casinos, residences, restaurants and nightlife destinations, including the SLS South Beach, Beverly Hills and most recently, Las Vegas.
 
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

Berger Commercial Realty Arranges $479,000 Sale of Fort Lauderdale, FL Property


St. George Guardabassi
FORT LAUDERDALE, FL – Berger Commercial Realty, a regional full service real estate firm, announced today the sale of an 11,709-square-foot property for $479,000 in Fort Lauderdale.

Berger Commercial Realty Senior Vice President St. George Guardabassi represented co-trustees James E. Harrison and Jack R. Loving in selling the property to A. Zemach, LLC.

 Located at 5731 N.E. 14th Ave. in Fort Lauderdale, the property consists of a 6,400-square-foot industrial building featuring16-foot clear height ceilings, three-phase heavy power, a 5,309-square-foot gated side yard and street level overhead doors, kitchen and private offices.

The building features decorative arches in the front with glass store front entrance to the offices, paved front parking lot and many upgrades.

 It is conveniently located one block east of Dixie Highway and just south of Cypress Creek Road near I-95 and Federal Highway.
  
For a complete copy of the company’s news release, please contact:

Marielle Sologuren
(954) 776-1999, ext. 226

Mortgage Bankers Association Reports Commercial/Multifamily Delinquencies Continue Decline in Third Quarter

 
Jamie Woodwell
Washington, DC (Dec. 2, 2014) – Delinquency rates for commercial and multifamily mortgage loans continued to decline in the third quarter of 2014, according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report.

“Commercial and multifamily mortgage loans continue to perform well,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research.

 “Improving property fundamentals and values, as well as a strong finance market, are helping drive delinquency rates down across all investor groups. 

“The 90+ day delinquency rate for bank-held commercial and multifamily mortgages fell to 1.28 percent in the third quarter of 2014, a level last seen in early 2008 at the beginning of the credit crisis. 

“The delinquency rate for multifamily loans held by banks has not been this low, 0.5 percent, since 2006.”

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

Shawn Ryan
(202) 557-2727

RECI Reports Strong Demand for Longer-Term Debt Exists in the Commercial Real Estate Industry


Jeanne Peck
Chicago, IL – Real Estate Capital Institute reports the commercial real estate industry is driven by low interest rates, as attractive property values are maintained through aggressive of both debt and equity capital. 

And as property values climb, in some cases peaking, money continues to flow into this investment sector.  Major trends in the CRE capital markets are noted below:

Stable treasury yields are helping. During the past couple of weeks, rates
flattened out, as spreads between the five and 10 year treasury remain at
about 70 basis points, nearly half the difference from a year ago, but above
the average of 60 basis points. 

Such treasury behavior clearly shows how
monetary policy is influencing the slope of the yield curve.  Strong demand
for longer-term debt exists, as global investors look for "safe haven"
capital.  A tightening of the monetary policy usually means a rising
short-term interest rates, typically intended to lead to a reduction in
inflationary pressures.

Declining Mortgage Spreads.  The direct result of an oversupply of capital
is declining mortgage spreads. Mortgage yields are edging downward and about
10 basis points narrower than the average for the past three decades.
Except for lodging and special-purpose properties, rate premiums are almost
nonexistent among various property types, as improving market fundamentals
drive more demand for funding a wider variety of commercial properties.

Rationalizing Risk.   Bullish optimism continues to chase down yield.  While
profits breed competition, seeking excess profits can ruin it.  Today's
markets clearly surpassed 2007 yield benchmarks with sub 4% annual returns
acceptable to many foreign investors driven by equity multiples, rather than
yield.  New construction is a profit frontier measured by low teen returns,
as well as 100 to 250 basis points development yields versus exit
capitalization rates. 


 However, the biggest profits are hidden in
repositioning and upgrading existing holdings, with returns often exceeding
50 to 80%.  On the debt side, lenders and investors rationalize that the low
rates on CRE debt remain well over that of "risk free" investments and feel
they are compensated appropriately for investing in this sector.  Lenders
are quick to institute floors if they feel base rates are dropping too
quickly or deeply, thus protecting a perceived downside to the lower rates
they offer.

Ms. Jeanne Peck, Director of the Real Estate Capital Institute(r), observes,
"Mortgage rates are tight across all varying loan terms driven by lower
treasuries and the overall perception that commercial real estate represents
safety versus higher yield."


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

Jeanne Peck, Executive Director
director@reci.com

NAI Realvest Gets New Event Production Tenant at Poinciana CommerCenter East in Kissimmee, FL


Kristen Kemp

 ORLANDO, FL – NAI Realvest recently completed a new long term industrial lease agreement with an event production services firm at Poinciana CommerCenter East, 1771 Business Center Lane in Kissimmee.  

Michael Heidrich, a principal at NAI Realvest and associate Kristen Kemp brokered the transaction representing the landlord and developer, Small Bay Partners, LLC of Maitland and the tenant Atlas Production Services, Inc. in the lease of 1,875 square feet. 

The tenant provides audio, visual and lighting rentals including crews for large and small events at parks or stadiums.

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

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