HFF arranges $118 million financing for Georgetown’s K2 high-rise residential tower in Chicago’s West Loop

K2, 34-story Class A residential tower, West Loop, Chicago, IL

Dan Kaufman

CHICAGO, IL – HFF announced it has arranged $118 million in financing for K2, a 34-story, 496-unit, Class A residential tower in Chicago’s West Loop that was recently acquired by The Georgetown Co., a leading developer and owner of properties nationwide.

                HFF worked on behalf of Georgetown to secure the 10-year, fixed-rate loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.  The securitized loans will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.

                K2 is located at 365 North Halsted Street in Chicago’s West Loop submarket immediately adjacent to Jewel-Osco’s flagship grocery store in downtown Chicago. 

The transit-oriented property also provides nearby access to the Ogilvie Transportation Center, Interstates 90/94, 290 and 55 and several CTA stations. 

MikeKavanau

Completed in 2013, the LEED Silver property features one-, two- and three-bedroom units averaging 779 square feet each.  The property, which reflects the very best in Chicago with respect to amenities and design, features a 10,000-square-foot outdoor deck and pool area including a 70-foot lap pool, hot tub, cabanas and fire pit. 

Other amenities include a state-of-the-art fitness facility, yoga studio, basketball court, lounge, party room, theater room and business center/boardroom.  The property is 96 percent leased.  Georgetown intends to make various improvements to the property including upgrades to public spaces and improved amenities.

“The West Loop is one of Chicago’s fastest growing residential, entertainment and employment centers.  The opportunity to participate in the growth and energy in the West Loop and Fulton Market districts attracted us to this property,” said Adam Flatto, CEO of The Georgetown Co. 

Steve Skok

“HFF has been a valuable partner in this process and we’re very pleased with the work they have done on our behalf.”

The HFF debt placement team representing the borrower was led by managing director Danny Kaufman, senior managing director Mike Kavanau and managing director Steve Skok. 

“HFF originally arranged the construction financing for K2 on behalf of Steve Fifield’s (of the Fifield Companies) development team.   K2 is a wonderful project and the West Loop location has outperformed any of our expectations. 

"  We are thrilled to be a part of The Georgetown Company’s acquisition of K2.  The Georgetown team brings world class real estate experience and will certainly improve this institutional quality project,” said Kaufman.

Adam Flatto

The Georgetown Co. is a privately-held diversified real estate development company founded by Marshall Rose in 1978 and headquartered in New York City. 

Georgetown and its principals have developed, owned and overseen more than 20-million square feet of office, residential, retail, and mixed-use properties throughout the United States. Georgetown currently owns and is developing properties in New York City, Los Angeles, Chicago, Columbus, OH, Boston and Washington DC.

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

ohennessey@hfflp.com

HFF closes $120 million sale of The Crest at Fort Lee in Fort Lee, NJ

The Crest at Fort Lee Apartments, Fort Lee, NJ

Jose Cruz

FLORHAM PARK, NJ – HFF announced it has closed the $120 million sale of The Crest at Fort Lee, a 351-unit multi-housing community in Fort Lee, New Jersey.

HFF marketed the property on behalf of the seller, Capri Capital Partners, LLC.  Pantzer Properties purchased the asset for $120 million, or approximately $341,880 per unit, free and clear of any existing debt.

The Crest at Fort Lee is situated on 13.09 acres at 900 Crest Lane in eastern Bergen County and is minutes from the New Jersey Turnpike/George Washington Bridge as well as nearby shopping and dining. 

The gated property, built in 1999, is 96 percent leased and has a mixture of one-, two- and three-bedroom floor plans averaging 1,058 square feet each.  

The property consists of seven residential buildings that include garage parking, tenant storage, balconies and some renovated units.

Kevin O'Hearn

 Community amenities include a clubhouse with heated outdoor swimming pool, state-of-the-art fitness center, indoor basketball court, community room and business center.  The property also has a playground and grilling area.

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

Hyland Levin LLP served as legal counsel for the buyer and Krawnow Saunders, Kaplan & Beninati LLP represented the seller.

“The buyer has an opportunity to add value to the property in a market that is seeing new development and higher rents,” stated Cruz.

Steve Simonelli

Capri Capital Partners, LLC is an SEC registered institutional real estate investment advisory firm, which has acquired or originated over $10 billion in commercial real estate investments since its founding in 1992.  

Capri offers a broad spectrum of real estate equity and debt products to its clients through separate account, commingled fund, and joint venture formats. 

Over its 21 year history, Capri has demonstrated experience investing in multifamily residential and urban investments.  Diversified assets managed on behalf of its pension fund and other institutional investors totaled $3.886 billion under management as of September 30, 2014. 

 Capri is headquartered in Chicago, with additional offices in Los Angeles and the New York area.

 For more information, visit the company’s website: www.capricapital.com.

Andrew Scandalios

Pantzer Properties, Inc. was founded in 1971 as a vehicle for private investment in undervalued real estate.  With approximately $2 billion in assets under management, the firm is the sponsor of the Panco Strategic Real Estate Funds, a series of opportunistic real estate funds focused on the multifamily sector.  

Headquartered in New York City with offices in Rochelle Park, New Jersey and Herndon, Virginia, the firm is a fully integrated owner/operator of institutional quality properties on the east coast of the United States.

 Since its inception, Pantzer Properties has been involved in more than $5 billion of real estate transactions. www.pantzerproperties.com

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

ohennessey@hfflp.com

BB&T Headquarters in Winston-Salem, NC Acquired for $60 Million

Tyson 'Ty' Rhame

Atlanta, GA, Dec. 23, 2014 -- Two investors have acquired the BB&T headquarters building in Winston-Salem N.C. in a $60 million acquisition.

 Charlotte, N.C. investor Ray Gee and Atlanta investor Tyson “Ty” Rhame partnered to acquire the 240,000 square foot, 20-story office tower as a long-term hold. BB&T Bank (Branch Banking & Trust), one of the largest financial services holding companies in the U.S., occupies the building under a long-term triple net lease.

Gvest Capital and Trinvest were the investment vehicles for Gee and Rhame, respectively. Inland Private Capital was the seller. The transaction closed Dec. 19.

At $250 a square foot, it is the highest per-square-foot price ever paid for a Winston-Salem office property. The property is expected to produce an annual return of about 7.25% before debt but after expenses.

Gee and Rhame acquired the asset under a leveraged transaction using a Delaware statutory trust structure. The buyers are selling stakes in the building to investors seeking a 1031 exchange transaction, which lets investors delay capital gains taxes on proceeds from recently-sold property by reinvesting in new property.

Raymond M. Gee

The building was attractive to the buyers because it is occupied through a 23-year lease signed with BB&T, a S&P creditworthy A-rated tenant. The new owners stated this is the last time the property will be sold.

“It is a generational investment for my family office,” Rhame said. “Being part of BB&T and Winston-Salem is a winning combination.”

“The long-term credit lease of BB&T in an attractive capital market provided the opportunity to create an investment product attractive to zero-cash-flow buyers with a low basis in the 1031 exchange market,” Gee added.

Based in Winston-Salem, N.C., BB&T operates 1,842 financial centers in 12 states and Washington, D.C.

Gvest Capital, LLC, (http://gvestcapital.com) is a closely-held investment partnership that focuses on the acquisition, development and asset management of commercial, multifamily and single-family residential real estate assets. 

Based in Charlotte, N.C., its leadership includes experienced veterans of the real estate and financial world.

Trinvest is the real estate arm of Atlanta investor, philanthropist and environmentalist Ty Rhame’s many enterprises.

 Rhame owns, or co-owns, a number of firms in a variety of industries including recycling, currency exchange, apparel, and many others. 

Recently appointed to the board of the U.S. Air Force Academy Endowment, he gives back to the community through his businesses, personally, and as president of the Rhame Family Foundation.

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

Terri Thornton, Terri@TerriThornton.com, 404-932-4347 

Wyndham Hotel Group Signs Deal for Seven Properties in Peru

PARSIPPANY, NJ – Wyndham Hotel Group, the world’s largest hotel company with approximately 7,590 hotels and part of Wyndham Worldwide Corporation (NYSE: WYN),announced the signing of a franchise agreement with local partner Costa del Sol to open 1,000 rooms across seven Wyndham Hotels and Resorts® branded properties that will open within the next year in key destinations across Peru.

The agreement includes the conversion of six properties, located in Tumbes, Chiclayo, Lima Airport, Trujillo, Cajamarca and Piura, to the Wyndham Hotels and Resorts brand, as well as the construction of a new 144-room property in Lima.

“Peru’s economy and tourism industry has been growing steadily in recent years, creating more demand for hotels and offering an ideal setting for our brands to expand,” said Paulo Pena, president and managing director of Latin America and the Caribbean for Wyndham Hotel Group. 

“This deal with Costa del Sol represents our commitment to continue to grow our portfolio in key markets throughout Latin America to benefit our solid base of loyal guests who recognize the value of our global hotel brands.”

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

Paula Carreiro

Wyndham Hotel Group

22 Sylvan Way

Parsippany, NJ 07054

(973) 753-7927

paula.carreiro@wyn.com

Resolve Maritime Academy Expanding in Fort Lauderdale, FL

  

Judy Dolan

 FORT LAUDERDALE, FL -- Berger Commercial Realty, a regional, full service commercial real estate firm, announced that Resolve Maritime Academy has expanded its space at Harbor Place, a 36,000-square-foot office building situated in the heart of Fort Lauderdale's marine district at 1600 S.E. 17th St.

Resolve Maritime Academy extended its existing lease and signed a new lease for an additional 7,134 square-feet of extra space. 

  Berger Commercial Realty brokers Judy Dolan and St. George Guardabassi represented Resolve Maritime Academy. Broker Keith Graves, also of Berger Commercial Realty, represented Harbor Place.

The four-story Harbor Place building features free covered parking, an onsite bank with ATM, and FedEx and UPS drop-boxes. Resolve Maritime Academy plans to use the additional space for its growing training academy.

St. George Guardabassi

Resolve Maritime Academy is a subsidiary of Resolve Marine Group, which recently purchased an 11,709-square-foot office building at 1550 S.E. 17th St. in Fort Lauderdale from Ardell Marina, Inc.

Dolan represented Resolve Marine Group in the purchase and Guardabassi and Graves represented the seller.

Headquartered in Fort Lauderdale, Resolve Marine Group is a leading marine services organization that provides salvage, emergency response, training, naval architecture, marine engineering and many other services to the global maritime industry.

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

Marielle Sologuren

Pierson Grant Public Relations

msologuren@piersongrant.com

954-776-1999, ext. 226

Waterton Purchases Martha Lake Apartments in North Suburban Seattle, WA

  

Peter Kuzma

 CHICAGO, IL  – Waterton Associates LLC, a U.S. real estate investor and operator, is pleased to announce its re-entry into the Seattle market with the acquisition of Martha Lake Apartments, a 155-unit garden-style apartment community in north suburban Lynnwood.

Located approximately 15 miles north of downtown Seattle, Martha Lake Apartments offers a mix of one-, two- and three-bedroom residences and a variety of on-site amenities, including an outdoor swimming pool, spa and racquetball court, as well as a resident-only fitness center and lounge.

 It is the sixth property acquired by Waterton in 2014 and the first community Waterton has owned in the Seattle area since 2004.

“Seattle has been and will continue to be a target market for Waterton because of its strong demand drivers and high barriers to entry,” said Peter Kuzma, assistant vice president, acquisitions, at Waterton Associates. 

“Development has been concentrated in the urban core, which has created an opportunity to implement value-add programs in older, well-located suburban communities like Martha Lake where we’re able to achieve strong rent premiums.

  

For leasing information, call (866) 545-7074 or visit www.marthalakeapts.com.

  

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

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

Ackerman & Co. & The Meddin Company Arrange Sale of Glenwood Park Retail in Atlanta, GA for $11million to Coro Realty

Shea Meddin

Atlanta, GA – Ackerman & Co., in partnership with The Meddin Company, announced it has brokered the sale of Glenwood Park Retail, a seven-building, 48,515-square-foot retail community located in one of Atlanta’s most recognized mixed use developments, to Coro Realty Advisors, LLC for $11 million. 

At the time of sale, the properties were more than 83 percent occupied by an impressive lineup of credit-rated tenants including popular Atlanta restaurants Gunshow, Vickery’s and The Shed.

Ackerman & Co.'s Shea Meddin and Stuart Meddin of The Meddin Company brokered the sale on behalf of the Seller, Glenwood Park Builder LLC.

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

Fara Wilson

Vice President, Marketing

P: 770.913.3904    C: 678.358.2060    F: 770.913.3965

Mortgage Bankers Association Announces Five Year-End Promotions

  

Annie Gawkowski

 WASHINGTON, DC – Today, David H. Stevens, President and CEO of the Mortgage Bankers Association (MBA), announced the promotion of five MBA staff.  The promotions will be effective January 1, 2015.

Joel Kan, Associate Vice President of Industry Surveys and Forecasts

Having joined MBA in 2006, Mr. Kan is responsible for managing the production of MBA’s macroeconomic and housing market forecasts. 

  He also oversees the production of MBA’s industry surveys, including the Weekly Mortgage Applications Survey, the National Delinquency Survey, Builder Applications Survey, and Mortgage Credit Availability Index, four of the association’s most high profile reports.

David H. Stevens

  Mr. Kan writes monthly commentaries regarding economic statistics and industry data.   Prior to his promotion, he was Director of Economic Forecasting.  He holds a BS in Economics and Statistics from the University of Michigan, Ann Arbor.

Other promotions:

Annie Gawkowski, Associate Director of Political Affairs

Chaya Zahn, Associate Director of Registration

Annie Jacobs, Business Solutions Support Specialist

William Hackney, Senior Helpdesk Technician

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

Shawn Ryan

sryan@mba.org

(202) 557-2727

 www.mba.org.

PM Hospitality Strategies, Inc. Announces Management Contract for The DoubleTree by Hilton DFW Airport North in Irving, TX

      

Doubletree by Hilton DFW Airport North, Irving, TX

 WASHINGTON, DC —Officials of PM Hospitality Strategies, Inc. (PMHS), a leading, national hotel management company, announced it signed a management agreement to operate the 282-room DoubleTree by Hilton DFW Airport North on behalf of The Buccini/Pollin Group, a privately held, full-service real estate acquisition, development and management company.  The addition of the DoubleTree hotel brings PMHS’ portfolio of managed hotels to approximately thirty hotels, including five new assignments in 2014 and development projects.

Joseph Bojanowski

“This hotel, our sixth west of the Mississippi River, marks our first entry into the Dallas/Fort Worth market and furthers our effort to expand our presence in the Western United States,” said Joseph Bojanowski, president of PMHS. 

  “As this is our 15th Hilton flagged hotel, we expect that it will immediately benefit from our deep familiarity with Hilton Worldwide and its numerous brands.”

Situated in Irving, Texas less than two miles from DFW Airport, the eight-story hotel is convenient to such companies as Allstate, Siemens, Verizon, AT&T, IMB and Microsoft.  

The DoubleTree by Hilton hotel features approximately 17,000 square feet of function space, outdoor pool, 24-hour fitness center, full-service business center and continual airport shuttle service. 

Guest rooms are equipped with 250 thread-count sheets and bedding, plush mattresses, ergonomic desk chairs, in-room movie channel and 32-inch LCD HDTV.  Dining options include the Flatland Grille & Bar, featuring contemporary Texas cuisine, and Starbucks Café.

"The Dallas/Fort Worth metropolitan area is continuing to grow thanks to an airport that is easily accessible and the numerous business headquartered there," Bojanowski continued. "Unemployment is lower and wage growth is higher than the national average, setting the stage for accelerating business metrics in the coming year.  We're very optimistic about this hotel and this market."

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

Chris Daly media

 (703) 435-6293

 chris@dalygray.com

Englewood Construction Gives 2015 Commercial Construction Trends and Predictions

William Di Santo

                                                CHICAGO, IL –  Top commercial construction trends for 2015 include an increase in retail and restaurant ground-up construction and a rise in shopping mall renovations, according to national general construction firm Englewood Construction.

“Confident in the improving economy, national retailers and restaurant owners have been adding new locations this year, and we expect that activity to continue in 2015,” said William Di Santo, president of Lemont, Ill.-based Englewood Construction. 

“Shopping mall owners are also renovating their space to make trips to the mall more experiential.”

Retail, restaurant projects on the rise

“In 2014, many retailers and restaurateurs added new venues as well as tore down existing stores and replaced them with new ones in order to meet brand standards,” Di Santo said. “While there still is ample space for retrofits in empty storefronts, we’re seeing more focus on ground-up construction.”

Cooper's Hawk Wintery and Restaurant
Oak Lawn, IL

Englewood recently started three new ground-up projects toward the end of 2014, a Cooper’s Hawk Winery and Restaurant in Oak Lawn, Ill., a Seasons 52 restaurant from Darden in Bridgewater, NJ, and a 55,000-square-foot Hobby Lobby at Seabrook Crossings in Seabrook, N.H. 

In 2014, Englewood completed a ground-up Goodwill store in the Chicago area.

                                                         “Over the past few years, the majority of restaurant construction has been confined to upscale activity,” Di Santo said. “That has changed in recent months as consumers are returning in all categories, including fine dining, fast casual and fast food. As a result, we expect a very robust pipeline for restaurant work in 2015.”

 Englewood also recently began an expansion at white tablecloth restaurant The Purple Pig in Chicago, as well as the renovation of a Yard House in Kansas City’s Power and Light District. Englewood is also working with Red Robin and Buffalo Wild Wings in the fast casual arena to roll out several new restaurants in 2015.

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

Mark Thomton, mthomton@taylorjohnson.com, 312-267-4523

Lexington Homes Opens Sales Center and Begins Construction at Lexington Oaks in Palatine, IL

  

Jeff Benach

 CHICAGO, IL – The on-site sales center is now open at Lexington Oaks, Chicago-based Lexington Homes’ newest townhome development in Palatine, Ill. Construction of the community’s 15 townhomes has commenced with first deliveries expected in spring 2015.

Located on Northwest Highway/Route 14, a quarter-mile west of Smith Road and a half-mile east of Quentin Road, Lexington Oaks is near downtown Palatine, less than a mile from Palatine’s central business district and the Palatine Metra station.

“Lexington Oaks is in a coveted infill location,” said Jeff Benach, co-principal of Lexington Homes. “Not only does Lexington Oaks back up to the Palatine Hills Golf Course, but it is also close to downtown Palatine, providing a convenient mix of residential, commercial and open space.

“Now that we have our on-site sales center open, buyers can see just how centrally located Lexington Oaks is to just about any kind of shopping, dining or recreational experience. 

"Combine that with Palatine’s hometown charm and you have a perfect location for young couples looking to move from the city or empty-nesters looking to downsize,” added Benach.

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

Proffitt Dixon Partners Begins Construction on Fountains Matthews Luxury Apartment Community in Matthews, NC

Rendering of planned Fountains Matthews luxury apartments, Matthews, NC

Wyatt Dixon

 Charlotte, NC – Construction has begun on Fountains Matthews, a 258-unit luxury apartment community located on 15 acres at the intersection of Matthews Township Parkway and Northeast Parkway in Matthews, N.C. 

Proffitt Dixon Partners, a multifamily real estate development and investment firm based in Charlotte, is developing the $30 million community.

  

“We are very excited to become a part of such a great community,” said managing principal Wyatt Dixon. “Early in our rezoning and entitlement process, it became clear that the Town of Matthews had high expectations for quality design and execution. 

"Our team worked diligently to exceed these expectations and we have ended up with a terrific plan that both the town and our team can be proud of.”

The development will feature eight live-work units and a 7,000 square foot club and fitness facility, which will combine to anchor a unique urban streetscape within the community. The live-work units will be geared to meet the needs of small professional firms and business owners.

Stuart Proffitt

The clubhouse will have Wi-Fi, a gourmet entertainment kitchen and a lounge area with billiards, gaming and a large fireplace. The fitness center will be fully-equipped with cardio and weight stations as well as a separate yoga and crossfit room.

Fountains Matthews will consist of four three-story buildings which will feature elevators. The one-, two- and three-bedroom apartment homes will offer granite countertops, stainless steel appliances, built-in microwaves, French doors leading to private patios and balconies, ceiling fans and more.

Some apartments will have 10- to 12-foot ceilings, kitchen islands, linen closets and computer work stations. The grounds, anchored by a one-acre courtyard and signature fountains, will feature a saltwater swimming pool, sun deck, outdoor kitchen and grilling area, fire pit and courtyard.

 The first residents should be able to move in late next summer, with full completion expected in early 2016.

“Fountains Matthews will be the first Green Certified multifamily development in Matthews,” said Stuart Proffitt, also managing principal. “We designed Fountains Matthews to achieve the National Association of Home Builders’ Green Certification, which promotes energy efficiency and water conservation for residents and active recycling during our construction process.”

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

Media contact: Terri Thornton 404-932-4347 Terri@TerriThornton.com

Cousins Properties Signs 230,000 Square Foot Lease Extension in Houston, TX

Post Oak Central, Houston, TX

Larry Gellerstedt

ATLANTA, GA -- Cousins Properties Incorporated (NYSE: CUZ) announced it has signed a 230,000 square foot lease extension with Stewart Information Services Corporation (NYSE: STC) at Post Oak Central in Houston, Texas.

 Stewart, whose lease was scheduled to expire in September 2016, extended its term for three years to September 2019.

"We are honored to continue our relationship with a well-respected and industry-leading service provider like Stewart," said Larry Gellerstedt, president and chief executive officer of Cousins.

"Stewart is a great example of the strong and financially stable customer base in our Houston portfolio, where eight of our ten largest customers have investment grade ratings. With the execution of this extension, our 5.6 million square foot Houston portfolio is now 96% leased with over 6 years of weighted average lease term."

Cousins Properties Incorporated is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA, primarily invests in Class-A office assets located in high growth Sunbelt markets, with a focus on Georgia, Texas and North Carolina. 

The Company has a comprehensive strategy in place based on a simple platform, trophy assets and opportunistic investments. For more information, please visit www.cousinsproperties.com.

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

Marli Quesinberry, 404-407-1898

Director, Investor Relations

marliquesinberry@cousinsproperties.com

HFF closes $15.12 million sale of Orange County, CA shopping center outparcel pads

Trabuco Hills Shopping Center, 27785, 27845 and 27865 Santa Margarita Parkway
Mission Viejo, South Orange County, CA

CJ Osbrink

 IRVINE, CA – HFF announced it has closed the $15.12 million sale (including a defeasance cost of approximately $930,000) of three outparcel retail pads totaling 24,250 square feet at Trabuco Hills Shopping Center, a 132,376-square-foot, grocery-anchored retail center in Mission Viejo, a city in south Orange County, California.

               HFF marketed the property on behalf of the seller, Trabuco Hills Pads, LLC.  C3 Properties, LLC purchased the asset free and clear of existing debt.

               The pads are located at 27785, 27845 and 27865 Santa Margarita Parkway with frontage along the route, a heavily-trafficked south Orange County road with more than 28,000 vehicles per day.  More than 160,000 households with an average annual income of more than $115,000 live within a five-mile radius. 

The pads total 2.67 acres and are 100 percent leased to Walgreens; Claim Jumper, a Landry’s, Inc. restaurant; and Ramona Tire & Service. 

               The HFF investment sales team representing the seller was led by CJ Osbrink and Nick Foster out of the Orange County office.  Trevor Harris, Matt Crawford and Jim Wellbaum with Triwell Properties represented the buyer.

Founded in 2008, and headquartered in Orange County, Trabuco Hills Pads, LLC (an affiliate of Webb Management & Investments, LLC), is a privately held owner and manager of real estate investments across various product types and in multiple markets.

  

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

tel (main) 617-338-0990 | (direct) 617-848-1572 | cel 617.543.4873 | www.hfflp.com

krmurphy@hfflp.com

HFF closes sale of and secures $30.8 million financing for Class A office building in Houston’s Energy Corridor

  

Kirkwood Tower, 11757 Katy Freeway, Energy Corridor Submarket, Houston, TX

Susan Hill

HOUSTON, TX – HFF announced it closed the sale of and secured $30.8 million in acquisition financing for Kirkwood Tower, a 285,682-square-foot, Class A office building in the Energy Corridor submarket in Houston, Texas.

               HFF marketed the property on behalf of co-owners Frontier Equity and Amstar.  Rosemont Realty, LLC purchased the property free and clear of debt.

  HFF also secured a 10-year, fixed-rate acquisition financing on behalf of the new owner through Voya Investment Management. 

  Additionally, HFF closed the sale of this property and assisted in securing joint venture equity for Frontier in 2012.

               Kirkwood Tower is situated on 2.584 acres at 11757 Katy Freeway, west of Beltway 8 between the Kirkwood and Dairy Ashford exits in the Energy Corridor submarket of Houston. 

Robert Williamson

Renovated in 2013, the 15-floor office tower has undergone significant capital improvements that have earned it the Energy Star rating multiple years as well as The Building of the Year (TOBY) award in 2008.

 The property includes a six-level parking garage, fitness center on top of the building and 10-story glass enclosed atrium.  Currently 92 percent leased, tenants include the original building developer, Mac Haik Enterprises; Preferred Bank and Skyline Executive Suites.

               The HFF investments sales team representing the seller was led by senior managing directors H. Dan Miller and Robert Williamson, director Martin Hogan and real estate analyst Wesley Hightower.

               The HFF debt placement team representing the buyer was led by senior managing director Susan Hill and real estate analysts Michael Johnson and Dustin Selzer.  Additionally, director Cameron Cureton led the 2012 equity transaction.

Wesley Hightower

               Kevin Brands, managing partner of the Office Division for Frontier Equity, acquired Kirkwood Tower in his first partnership with Amstar Group after operating in Houston for many years as a partner with CMD Realty Investors.

  Frontier Equity is an operating investment company based in Dallas, Texas, with a value-add focus to invest in office and industrial assets with institutional scale.              

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

tel (main) 617-338-0990 | (direct) 617-848-1572 | cel 617.543.4873 | www.hfflp.com

krmurphy@hfflp.com

www.amstar.com.

www.RosemontRealty.com.