Crossman & Company welcomes Marc Cook to the Orlando team

Marc Cook

Orlando, FL – Crossman & Company welcomes Marc Cook to its Orlando office, where he will be responsible for new client development.

Marc joins Crossman & Company with 15 years of experience in managing relationships centered in commercial real estate, banking and investments.

He most recently served as national real estate manager for Rotech Healthcare Inc., where he managed a nationwide commercial real estate lease portfolio consisting of 400 patient service centers, billing centers, distribution sites and corporate offices that totaled 2.2 million square feet. 

He was responsible for lease negotiations, site selection, construction project coordination and facilities management.

Marc is a certified financial planner and has a State of Florida Real Estate Sales Associate License.

“We are excited to have Marc join Crossman & Company. His experience in both commercial real estate and the financial market provides the foundation needed to generate value for our clients,” said Crossman & Company President, John Crossman.

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

Sydnie Cobb

Crossman & Company

scobb@crossmanco.com

407.581.6261

HFF closes sale of ultra-luxury residential tower in Seattle, WA

Premiere on Pine, Pine Street and Eighth Avenue
Seattle, WA

PORTLAND, OR –  Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of   a 386-unit, 40-story ultra-luxury apartment tower in Seattle’s Pike-Pine retail corridor.

HFF marketed the asset on behalf of the Holland Partner Group and its finance partner. 

Premiere on Pine is situated at the intersection of Pine Street and 8th Avenue within two blocks of Interstate 5 and Westlake Station, the Puget Sound’s most heavily-traveled transportation hub. 

Completed in 2014, the LEED Silver-certified tower has studio, one-, two- and three-bedroom condominium-quality units averaging 797 square feet each. 

The property also encompasses 3,385 square feet of ground floor retail and has amenities such as a fitness center, dog run, theatre room, club room, conference room, two event spaces and a 3,000-square-foot balcony that wraps around the south and west side of the building providing panoramic views of the surrounding area. 

The HFF team representing the developer was led by executive managing director Matthew Lawton, managing director Ira Virden and senior managing director Gerry Rohm.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

The Related Group Unveils Plans for Luxury High Rise Apartments in Midtown Atlanta, GA

 ATLANTA, GA (July 14, 2015) – Miami-based The Related Group announces plans to build a highly appointed luxury high rise apartment building in the heart of Midtown, featuring a 70,000 square-foot multi-level flagship Whole Foods Market.

 Rising 38 stories above this bustling live, work and play area – at the corner of 14th and West Peachtree Streets – residents of the 390 luxury apartments will have spectacular views of the city.

 In addition to direct lobby access to Whole Foods and other planned retail, residents will be just steps away from the city’s best dining, shopping and offices, as well as the heart of the city’s art district.

 “Midtown is the city’s most walkable neighborhood and thriving business district, home to Fortune 100 companies, technology incubators, critically acclaimed arts institutions and acres of green space” said Ed Allen, vice president of development for The Related Group. “We are building residences that exceed the expectations of discerning residents who want to live in the center of it.”

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

 andi hill

liz lapidus pr

772 edgewood avenue ne

atlanta, ga 30307

p 404-688-1466 f 404-681-5204

andi@lizlapiduspr.com

www.lizlapiduspr.com

Finnegan Signs Full-Floor Lease in Midtown Atlanta

  

 

Nicole Goldsmith

 ATLANTA, GA, July 14, 2015 – Finnegan, Henderson, Farabow, Garrett & Dunner, LLP has signed a 26,252-square-foot lease for a full floor at 271 17th St., located at Atlantic Station in Atlanta, with landlord CBRE Global Investors.

Atlantic Station has attracted numerous tenants in the technology, advertising, media and information sectors recently, “but this is an environment where companies from any industry can thrive,” said John Gilb, principal at CBRE Globe Investors.

“Finnegan is one of the top intellectual property law firms in the country and we are ecstatic they chose 271 17th St. for their new Atlanta home.”

“We are very excited to be relocating to 271 17th St.,” said Virginia Carron, managing partner of Finnegan’s Atlanta office. “This gives us the opportunity to design efficient new space and enjoy the excellent amenities available at Atlantic Station and throughout Midtown Atlanta.”

Virginia Carron

Jeffrey Keppen and Nicole Goldsmith of CBRE represented the landlord in the transaction, and Brad Armstrong, Chris Wagner, and Shannon Price of JLL, together with Robert O. Copito of CBRE, Inc., represented the tenant in the transaction.

 Finnegan is relocating from the SunTrust tower in Downtown Atlanta. 271 17th St. is a 25-story, 541,789-square-foot office tower offering spectacular views, highly efficient and customizable floor plates and exclusive tenant services.

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

Pam Barnett

Corporate Communications Director

pam.barnett@cbreglobalinvestors.com

+1 213 683 4368

50 Biscayne Boulevard in Miami, FL Hits Market for $8.3 Million

  

50 Biscayne Boulevard, Downtown Miami, FL

Ryan T. Shaw

MIAMI, FL  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced that it has obtained the exclusive listing for 50 Biscayne, a 9,300-square foot retail/office condo, located in Miami’s Central Business District. 

The asset is listed for $8,300,000.

Ryan T. Shaw, an associate vice president investments, and Brooks Minford, an associate, both in Marcus & Millichap’s Miami office are representing the seller, a private investor from Sunny Isles, Fla.

“50 Biscayne offers an excellent opportunity for an investor to own the retail space that fronts Biscayne Boulevard and Flagler Street. The space is currently built out as a restaurant with a bar and patio space,” says Shaw.

“A buyer has the option to bring in a new restaurant tenant or divide the space.  Similar NNN spaces in the area are renting above $50 per square foot and the other retail space in the building is fully occupied.”

The two-story, ground floor, retail/office condo is 9,300 square feet.  Significant properties adjacent to, across from, or near the property include: Marshall's, Walgreens, Bank of America, and BB&T.

 

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

Kirk A. Felici

First Vice President/District Manager

Miami, FL

(786) 522-7000

DiVosta now offering the versatile Taft Street floor plan at Veranda Gardens in Port St. Lucie, FL

Josh Graeve

Port St. Lucie, FL --- DiVosta Homes has recently introduced at Veranda Gardens in Port St. Lucie a floor plan that’s been one of the most popular designs from the homebuilder’s newest collection sold in the south Florida region.  

The versatile Taft Street plan base-priced at $209,990, offers from 1,433 square feet of living area to 2,188 square feet with two or three bedrooms and two or three full bathrooms and a two-car garage.  

A standard multi-purpose flex room by the entry can be used as an office, hobby or private guest room.  

“The Taft Street has so many variations that it suits everyone from first time homebuyers to transitional families with adult children or in-laws, or just active adults who often entertain out of state guests,” said Josh Graeve, vice president of sales for DiVosta in South Florida.  “It’s exceptional for entertaining.”

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

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

  

NAI Realvest Negotiates Sale of Bank Owned Office-Warehouse Building in Sanford, FL for $575,000

     

 

Kevin O'Connor

ORLANDO, FL – NAI Realvest recently negotiated the $575,000 sale price for a bank owned office-warehouse building with 14,268 useable square feet located at 5450 Bryant Ave. in Sanford.

NAI Realvest Principals Matt Cichocki and Kevin O’Connor and Associate Mitch Heidrich, represented Ocwen Loan Servicing and the seller U.S. Bank National Assn. of West Palm Beach in the sale to KTD Investments, LLC of Sanford.

The buyer intends to relocate their existing businesses – Prager Builders and Encompass Enterprises – from their current location on Stonewall Place in Sanford. 

This is the eighth Central Florida property that the NAI Realvest Retail Team of Cichocki, O’Connor and Heidrich, has sold for Ocwen Loan Servicing in the past 18 months.

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

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

  

The Buccini/Pollin Group Acquires 353-Room Sheraton Raleigh Hotel in Raleigh, NC

Dave Pollin

RALEIGH, NC, July 14, 2015—Officials of The Buccini/Pollin Group, a privately-held, full-service real estate acquisition and development company (BPG), today announced that it has completed the acquisition of the 353-room Sheraton Raleigh Hotel in North Carolina. 

The hotel, at 421 South Salisbury Street, will be operated by PM Hospitality Strategies, Inc. (PMHS), a leading, national hotel management company. 

This brings PMHS’ third-party management portfolio to more than 35 hotels, including seven new assignments in 2015, with multiple projects in the pipeline expected to close within the next 18 months.

            “BPG continues to execute its strategic plan of acquiring full-service, stabilized hotels in primary and secondary markets and selectively developing new hotels in high barrier-to-entry urban locations,” said Dave Pollin, co-founder.  “2015 is one of the strongest years the hotel industry has ever experienced, and all signs point towards continued prosperity.”

Joseph Bojanowski, president of PMHS, noted, “We have doubled our management portfolio over the past two years, adding properties in six states. 

Joseph Bojanowski

“Our goal is to continue growing our platform, essentially doubling in size again over the next three years. 

"With the industry operating at very positive levels, savvy owners are engaging proven management companies to optimize profitability and customer satisfaction while controlling margins. 

“PMHS has demonstrated its expertise in these areas and plans to aggressively market its capabilities and successes as it pursues its growth goals.”

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

Chris Daly

media

(703) 435-6293

chris@dalygray.com

www.bpgroup.net.

www.pmhs.com.

  

Retail center in Miami sells for $1.15 Million; Bank-owned property features popular La Bamba Restaurant

  

 

Achikam Yogev

MIAMI, Fla. (July 14, 2015) – A retail center in a densely populated and industrial area of Miami has sold for $1.15 million.

 The 12,182-square-foot property, at 4401 SW 74th Ave., was in foreclosure and sold for below replacement value at $94 per square foot.

The seller, 4401 SW 74th Ave, LLC, was represented by Achikam Yogev, Senior Vice President with Colliers International South Florida based out of the company’s Miami office. The buyer, MST Corporation, was self-represented.

The retail center, located near the Palmetto Expressway on the corner of SW 74th Avenue and SW 42nd Street, is fully leased and includes the popular La Bamba Restaurant, a local check cashing company and an auto mechanic.

“With this retail center being fully leased and in a high-traffic area, it was a value purchase at below replacement value,” said Colliers’ Yogev. “In fact, we are still continuing to see REO properties on the market as more lenders are shedding their assets.”

The property was on the market for about a year and had environmental challenges that the buyer and seller were able to remedy.

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

Leah Saunders 

Senior Account Executive

B2 Communications

p 727.895.5030 x104 | c 813.924.0367

www.B2Communications.com

Multi Housing Advisors Brokers Two Apartment Community Sales Totaling $33.65 Million in Simpsonville, SC

Marc Robinson

CHARLOTTE, SC— Multi Housing Advisors (MHA) has arranged, in separate transactions, the sale of two apartment communities located in Simpsonville, South Carolina, for a total of $33.65 million. 

These transactions mark the fourth sale for MHA in the Greenville area this year.

Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the sellers in the transactions. The details are below:

·      Ginkgo Residential purchased the 120-unit Enclave at Fairview, located at 630 Fairview Road, from McCall Capital for $11 million. The property, built in two phases in the late 1980’s, features two- and three-bedroom townhomes, a resort-style swimming pool, fitness center, playground area, car care center and dog park.

·      Garden District Realty Partners acquired the 223-unit Garden District Apartment Homes, located at 100 Garden District Drive, from Waypoint Residential for $22.65 million. The property, built in 2008, features best-in-class finishes including hardwood flooring, granite countertops, plantation blinds, custom cabinetry and designer lighting fixtures.

  

 “The greater Greenville area is one of the nation’s healthiest apartment markets, fueled by consistently strong employment and population growth,” McCarley said. “This fundamental strength provides a bright outlook for these two assets and the area’s entire multifamily sector moving forward.”

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

Savannah Duncan

The Wilbert Group

404-343-0870 (O) 404-901-4433 (C)

sduncan@thewilbertgroup.com

www.usmha.com.

HFF secures $345 million in financing for Charles River Plaza North adjacent to Massachusetts General Hospital in Boston

Charles River Plaza North, 185 Cambridge Street, Beacon Hill Neighborhood, Boston, MA

BOSTON, MA, July 13, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $345 million in first mortgage and mezzanine financing for Charles River Plaza North, a 354,594-square-foot, state-of-the-art office/research building adjacent to and long-term leased by Massachusetts General Hospital (MGH) in Boston, Massachusetts.

Riaz Cassum

HFF worked on behalf of the borrower, The Davis Companies and Marcus Partners, Inc., developers and owners of the property, to secure a $245 million, fixed-rate loan with UBS and a $100 million mezzanine loan with TIAA-CREF. 

Loan proceeds will be used to refinance an existing loan HFF arranged for the borrower in 2007. 

Charles River Plaza North is located at 185 Cambridge Street within the larger 630,000-square-foot Charles River Plaza mixed-use development adjacent to the campus of MGH in Boston’s Beacon Hill neighborhood.

 This location is across the Charles River from the Massachusetts Institute of Technology and Harvard University and is convenient to mass transit with an MBTA red line station about three blocks away.

 Completed by the current ownership in 2005, Charles River Plaza North is leased in its entirety to The General Hospital Corporation, the parent of MGH and subsidiary of Partners Healthcare System. 

Additional tenants within the development include Whole Foods, CVS and the Schepens Eye Institute.  Charles River Plaza North is used as a lab/research facility with five distinct research teams each occupying a floor of the building – the Center for Systems Biology, the Center for Regenerative Medicine, the Center for Computational and Integrative Biology, the Wellman Center for Photomedicine and the Center for Human Genetic Research.

The HFF debt placement team representing the borrower was led by senior managing director Riaz Cassum. 

“HFF has had a long history with Charles River Plaza and was involved in securing both the original construction financing for the project in 2003 as well as the permanent loan in 2007,” said Cassum.  “We are extremely proud to be involved with such a world class project that represents Boston’s strong presence in the field of medical research.”

  

 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

http://www.marcuspartners.com.

http://www.thedaviscompanies.com/.

HFF closes $42.25 million sale of multi-anchor retail center near coastal New Jersey

  

Lori Schwartz

FLORHAM PARK, NJ, July 13, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $42.25 million sale of Manahawkin Commons, a 318,100-square-foot, multi-anchor retail center with future additional development potential in Manahawkin, New Jersey.

HFF marketed the property on behalf of the seller, ACI Manahawkin LLC.  The Hampshire Companies, a full-service, private real estate investment firm, purchased the asset in a joint venture with MCB Real Estate, LLC and One Liberty Properties, Inc.

 Mitchell Greene, Robert Sasloff and Lori Schwartz of Robinson Brog Leinwand Greene Genovese & Gluck P.C. provided legal counsel to ACI Manahawkin LLC during the transaction.

 Anchored by Kmart, T.J.Maxx and Regal Cinemas, the 95-percent-leased Manahawkin Commons is home to a variety of national and regional tenants including Staples, Michaels, Pier One, Famous Footwear, Great Clips, Five Below, McDonald’s, Verizon Wireless, Game Stop, Subway and Dunkin Donuts. 

Additionally, the site has preliminary approval for three proposed pad sites approximately 12,500 square feet.  

Situated on 48 acres at Washington Avenue and Route 72, a retail corridor with an average daily traffic count of 50,000 vehicles, the center is the first retail destination off of the Garden State Parkway at exit 63 on the way to Long Beach Island, an affluent beach resort town on New Jersey’s central coast.

Jose Cruz

The HFF investment sales team representing the seller was led by senior managing director Jose Cruz and managing director Kevin O’Hearn.

“There was a significant amount of interest in this property given the current tenant base and potential upside,” said Cruz.

 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

Capital Square Realty Advisors Completes DST Offering of Healthcare Building Portfolio in Virginia and Wisconsin

  

Louis Rogers

RICHMOND, Va. (July 13, 2015) – Capital Square Realty Advisors, LLC announced today that its Delaware Statutory Trust investment offering, MOB Portfolio II, DST, comprised of two healthcare-related buildings in the Richmond suburb of Mechanicsville, Va. and the Milwaukee suburb of Hartford, Wis., has been fully subscribed by investors.

“Demand for healthcare services continues to grow at a historic pace, making healthcare real estate assets such as these, both fully leased to strong tenants in excellent locations, especially attractive,” said Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors.

 “We are thrilled to complete this DST investment offering and continue to provide our investors the opportunity to own investment grade medical properties like these using the DST structure. This is the 14th DST offering to be fully subscribed by investors.” 

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

Julie Leber                                                                         

Spotlight Marketing Communications                    

949.427.5172, ext. 703                                                  julie@spotlightmarcom.com

                                       

Rosano Partners: Lenders Loosen Reins on Urban Multifamily Product

Sigiv Rosano

LOS ANGELES, CA (July 13, 2015) – In a market that is flooded with capital for large acquisitions, Rosano Partners, a firm that specializes in urban commercial real estate, is proving that multifamily lending has also re-emerged in niche, urban markets.

“The brutal truth is that it has typically been very difficult to secure competitive financing for small apartment projects in diverse, urban neighborhoods,” says Sagiv Rosano, Founder and President of Rosano Partners.

 “Today, however, lenders are becoming much more aggressive, especially in multifamily product.  With a default rate of only .05% or lower, the appetite for multifamily is insatiable, and we are seeing an emergence of finance providers ready to lend in these small, niche neighborhoods.”

Rosano Partners, a full-service commercial brokerage, recently arranged financing for three apartment projects in diverse Los Angeles neighborhoods.

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

Jenn Quader

Brower, Miller & Cole

(949) 955-7940

jquader@browermillercole.com

   www.rosanopartners.com.

  

Related Midwest Announces Opening of Kanela Breakfast Club at 500 Lake Shore Drive in Chicago, IL

Curt Bailey

                                                    CHICAGO, IL (July 13, 2015) – Related Midwest today announced that Kanela Breakfast Club, a contemporary breakfast-and-lunch concept, has opened at 500 Lake Shore Drive, the developer’s ultra-luxury apartment tower in Streeterville.

The restaurant, Kanela's fourth location in Chicago, welcomed its first customers Monday morning.

The 2,500-square-foot eatery, owned by BNY Mellon Wealth Management Senior Director Alexi Giannoulias and restaurateur Chris Lardakis, features a sweet and savory menu created by Executive Chef Don Penza, with seasonal brunch favorites and Greek specialties made in-house with locally sourced and organic ingredients.

“Kanela Breakfast Club is the perfect addition to 500 Lake Shore Drive, complementing the building’s existing suite of lifestyle amenities,” said Curt Bailey, president of Related Midwest.

“Our company is invested in the long-term success and vitality of the Streeterville neighborhood, and we felt it was important to partner with a business that would benefit not only our residents, but the entire Streeterville community.”

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