Saturday, February 6, 2016

HFF arranges joint venture equity for 2nd & Pike in downtown Seattle, WA



Rendering of planned 2nd & Pike Apartments,
 1430 Second Avenue, Pike Pine Corridor,
Downtown Seattle, WA

Gerry Rohm
SAN FRANCISCO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged joint venture equity for the development of 2nd & Pike, a 39-story, Class A+ luxury residential apartment tower in downtown Seattle’s Pike/Pine corridor.

HFF worked on behalf the developer, Urban Visions, one of Seattle’s leading real estate companies, to arrange the joint venture equity partnership with Mitsui Fudosan America, Inc. (MFA), the U.S. subsidiary of Japan’s largest public real estate company. 

2nd & Pike is prominently situated on a 0.44-acre site at 1430 Second Avenue approximately one block from Pike Place Market and three blocks from Seattle’s most traveled transit hub, Westlake Station. 

Having broken ground in late 2015, this iconic tower is due for completion in December 2017.  The property will have 340 luxury apartment units averaging 985 square feet each; 11,910 square feet of prime retail space; and five levels of below-grade parking. 

The tower, designed by Tom Kundig of renowned Seattle-based Olson Kundig Architects, will offer unobstructed views of Seattle’s bay, luxury finishes and amenities including concierge service, a fitness center, private dining/conference facilities, rooftop lounge space, resident lounge with full kitchen and an eighth-floor, 6,000-square-foot destination sky bar.

Bruce Ganong
The HFF team representing Urban Visions was led by senior managing directors Gerry Rohm, Bruce Ganong and Nick Kucha and managing director Mark Erland.

“The development of 2nd & Pike represents our desire to build the premier luxury residential tower in Seattle based on the most cutting edge principles in environmental design and sustainability,” said Greg Smith, CEO of Urban Visions.  “This property embodies our company’s philosophy of building and managing generational assets for both our own and our partners’ portfolios.”

“Our longtime strategy has been to form relationships with proven, local partners who share similar long-term views and passion for developing best-in-class assets,” said John Westerfield, CEO of MFA.

 "HFF played an integral role in bringing together two firms with shared values, and we are pleased to be in partnership with Urban Visions in developing this superior, luxury residential tower located in one of the most sought-after locations in Seattle.”

“2nd & Pike has always been regarded as one of Seattle’s premier CBD intersections and the development of this iconic tower is leading the transformation of the 2nd Avenue corridor to become one of the most desirable neighborhoods in Seattle.  We are very pleased to have been retained by Urban Visions to source the equity capital for the development of this landmark tower,” said 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




Lincoln Property Co. Arranges 27,551-Square-Foot Lease in Lawrenceville, GA


 
Hunter Henritze
ATLANTA, GA – Lincoln Property Company (Lincoln) has arranged a new 27,551-square-foot lease for Lendmark Financial at Huntcrest III, an office building located at 1735 North Brown Road in Lawrenceville, Georgia.

Matt Davis, Hunter Henritze and Michael Howell of Lincoln represented the landlord in the transaction.
                                                                   “The deep amenity pool, which includes Sugarloaf County Club, contributes to Sugarloaf office market’s ability to attract quality companies like Lendmark,” Davis said. “The Sugarloaf micro-market has historically been one of the tightest in Atlanta and is currently 95 percent leased.” 

Huntcrest III is highly visible from I-85 with access from Sugarloaf Parkway and Old Peachtree.The building offers immediate proximity to Gwinnett Civic Center, multiple hotels, Sugarloaf Mills, Lifetime Fitness and the Mall of Georgia.

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

Savannah Durban,
The Wilbert Group
404.343.0870           

                                                                                                                             

Legacy Ventures, a Leader in Downtown Atlanta’s Westside Redevelopment, Poised For Growth and Innovation in 2016

  
 
David Marvin
 ATLANTA, GA  -- Legacy Ventures is the new name for David Marvin’s triad of companies influential in the re-development of the Westside of downtown Atlanta.

The formation of Legacy Ventures was recently announced by Marvin and includes Legacy Property Group, Legacy Restaurant Partners and Legacy Hotel Partners. 

Collectively the three companies have grown to include more than 1,000 employees and supports two dozen hotels and restaurants throughout the southeast.

“The name change to Legacy Ventures and the creation of one parent entity for our three companies is a reflection of how our integrated business model is a game changer for the hospitality and food service industries,” said Marvin, president and founder of Legacy Ventures.

“We started 20 years ago as developers with a real belief in the resurgence of downtown Atlanta when few others could envision successful growth. What we have learned over the past two decades is the close connection between development and operations. Just because you build it, doesn’t mean they will come.

“Success requires innovation, and for us that meant rethinking the traditional model for development and extending it to operating hotels, as well as the creation and management of our own restaurants,” added Marvin.

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

Savannah Durban,
The Wilbert Group
404.343.0870

                                                                                                                                       sdurban@thewilbertgroup.com

CBRE Hotels’ Americas Research Estimates Airbnb Users Spent $2.4 Billion on Lodging in the U.S. Over Past Year


R. Mark Woodworth
Los Angeles, CA – Airbnb’s presence in key markets throughout the U.S. is growing at a rapid pace, with users spending $2.4 billion on lodging in the U.S. over the past year, according to analysis from CBRE Hotels’ Americas Research.

Over the study period of October 2014 – September 2015, more than 55 percent of the $2.4 billion generated was captured in only five U.S. cities (New York, Los Angeles, San Francisco, Miami and Boston), represents a significant portion of the lodging revenues in these markets.

“It seems reasonable that Airbnb will impact hotels in two ways,” said R. Mark Woodworth, senior managing director of CBRE Hotels.

“For existing hotels, the growth of average daily rates will most likely be curtailed. The fluid nature of Airbnb’s supply suggests that traditional hotel’s historic price premiums realized during peak demand periods will be mitigated.

“The other impact may be on new hotel construction.  Airbnb may be an impediment to traditional hotel construction and could reduce traditional hotel supply growth in many markets.”



CBRE Hotels compiled select information for hundreds of U.S. markets to assess the relevancy of this sharing platform to the traditional hotel industry. From this data, the firm has developed an Airbnb Competition Index. 

This measure incorporates a comparison of Airbnb’s  Average Daily Room rates (ADR) to traditional hotel ADR’s; the scale of the active Airbnb inventory in a market to the supply of traditional hotels, and the overall growth of active Airbnb supply in that market, into a measure of potential risk. 

New York was identified as the number one domestic market at risk from the growth of Airbnb, with an Airbnb Competition Index of 81.4, followed by San Francisco, Miami, Oakland and Oahu.




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

Robert McGrath                       
212 984 8267

       

U.S. Home Sellers in 2015 Realized Biggest Price Gains Since 2007, According to RealtyTrac Year-End Sales Report


Daren Blomquist
IRVINE, CA — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, released its Year-End 2015 U.S. Home Sales Report, which shows that U.S. home sellers in 2015 realized an average price gain since purchase of 11 percent ($20,378), the biggest average price gain for U.S. home sellers since 2007 — an eight-year high.

The 11 percent average price gain in 2015 marked the second consecutive year where U.S. home sellers realized an average price gain following six consecutive years where U.S. home sellers realized average price losses.

“With some local market exceptions, the 2015 home sales data paints the picture of a properly functioning U.S. housing market where homeowners can once again count on real estate as an appreciating asset — a long-touted axiom soundly debunked as ironclad truth between 2008 and 2013,” said Daren Blomquist, vice president at RealtyTrac.

“This return to consistent home price gains for sellers should reinforce confidence in real estate in 2016 and produce another year of solid sales volume as homeowners cash out their equity gains.”

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

Jennifer von Pohlmann
Sr. Data PR Manager
Office: 949.502.8300 ext 139

UK-Based Software Company Opens First U.S. Office in Downtown Winter Haven, FL


Bud Strang
Winter Haven, FL — Avius has expanded its UK operations to the United States with the opening of its Downtown Winter Haven, Florida office.  The U.S. operation will operate as Avius America LLC.

The company offers highly intuitive, scalable technology platforms for businesses to gather customer feedback. Avius signed a three-year lease at Suites on Central located at 331 W. Central Avenue. Six/Ten, LLC, completed the deal as landlord.

Avius America CEO, Ben Story, said the company decided to open the office in Winter Haven because of the city’s location to LEGOLAND and proximity to Tampa and Orlando. While the company is based in the UK, having an East Coast U.S. office was always the plan, in order to better serve its clients here.
  
“After looking at a number of locations, Downtown Winter Haven was the natural choice for many reasons,” said Story. “Having my legal representation, CPA and other business services within walking distance makes doing business simple. The city also has several resources to help businesses grow. For example, the Winter Haven Chamber of Commerce already introduced me to a client we’re in final negotiations with.”

Ben Story
“Our work-live-play vision of the downtown region is proving effective as we see more and more local, national and now international businesses relocating or expanding to the area,” said Bud Strang, Six/Ten’s CEO.

Central Park Square, which houses Suites on Central, was once a dilapidated furniture store that Six/Ten   transformed into retail and office space. 

Renovations include modernization of the exterior façade; a new design and color scheme; dramatic, new layouts of both floors; and complete updates to the plumbing, air conditioning, electrical and elevator systems. The building also offers advanced fiber optics for fast and secure Internet and telecom access.

For more information about retail and office space opportunities in Downtown Winter Haven, please contact Chad Lennox, Leasing Director at Six/Ten, at (863) 595-0237.

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

Michelle Griffith
BoardroomPR
407-973-8555
mgriffith@boardroompr.com

NAI Realvest Negotiates New Flex Lease for 6,166 Square Feet at Sunport Commerce Center in Orlando, FL


George Livingston
ORLANDO, FL -- NAI Realvest recently negotiated a new lease for 6,166 rentable square feet of flex space at 8018 Sunport Drive, Suite 201-202, in Sunport Commerce Center off Sand Lake Road near Orlando International Airport.  
      
NAI Realvest broker associate Drew Saphos, CCIM and chairman George Livingston negotiated the transaction representing the landlord, Miami-based Orlando Sunport FlexxSpace Ltd. 

The tenant, Abraham Financial Solutions, is a growing financial firm that was represented in negotiations by Alicia Hernandes of Sunny 365 Realty Group.

The Sunport Commerce Center is currently 89 percent leased.

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


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

Friday, February 5, 2016

United Negro College Fund Will Host 14th Annual Orlando Mayor’s Blalck History Month Luncheon Feb. 17 at Church Street Station Ballroom


Lucille O'Neal
Orlando, FL -- The Orlando Area Office of UNCF (United Negro College Fund), the nation’s largest minority education organization, will host its 14th annual Orlando Mayor’s Black History Month Luncheon on Feb. 17 at the Church Street Station Ballroom.

Hosted by Orlando Mayor Buddy Dyer and Orange County Mayor Teresa Jacobs, the event will bring together education, business and civic leaders to celebrate the contributions of African Americans to the greater Orlando community, and to raise funds and awareness of UNCF.

Lucille O’Neal will serve as Honorary Chair and Sandra Jeter will serve as Luncheon Chair.

“I am very excited about this year’s luncheon and about raising as much funding as possible,” said O’Neal. “It is our mission to ensure that local disadvantaged students have the opportunity to realize their dreams of a college education. In order to rebuild the village that helps to raise our children, we must all join together and invest in the next generation.”  


Sandra Jeter
The 2016 UNCF Champions of Education Award will be presented to both Robert Billingslea and John Crossman.

Billingslea, former Vice President for Corporate Urban Affairs for Walt Disney, is being honored for his long time service in education. Among his many contributions is his service on UNCF’s Orlando Leadership Council and as a trustee for UNCF-member institution Bethune-Cookman University.

Crossman also has a strong commitment to education in Orlando. He created the Crossman & Company Endowed Real Estate Scholarship at Bethune- Cookman University to increase the amount of minorities in real estate. He and his family have also created an endowed fund in the memory of John’s father, the Rev. Kenneth C. Crossman, which gives annual scholarships to students.

“We invite all members of the Orlando community to join us as we raise money to send deserving young people to college,” said Anita Henri, UNCF Area Development Director. “Everyone who believes that ‘A Mind Is a Terrible Thing to Waste, but a Wonderful Thing to Invest In®,”  should attend the luncheon. Let’s empower our young people so they may secure passports to Better Futures® by way of a college degree.”


Orlando Mayor Teresa Jacobs
For more than 70 years, UNCF has provided financial assistance to students and its 37 member historically black colleges and universities (HBCUs). Without UNCF’s support, many of the students attending these colleges would not have access to higher education or the benefits they provide.

 UNCF’s luncheon helps raise funds to support more than 60,000 students a year at more than 1,100 colleges and universities across America.  The majority of UNCF scholars come from low-income families and are among the first in their families to attend college.

Across Florida, UNCF assists more than 6,000 students who attend UNCF member institutions or who receive UNCF scholarships to attend other area colleges and universities.

For more information on the 14th Annual UNCF Orlando Black History Month Luncheon, or for sponsorship packages, please contact Jazmine Barnes at 407.896.6940, or jazmine.barnes@uncf.org.
 
For a complete copy of the company’s news release, please contact:

Beth Payan Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com

Cynetra McMillian
UNCF Communications
202.854.0007       


Berkadia Closes on sale of 112 Units for $9.8 Million in North Montgomery, AL


Joshua Jacobs
Birmingham, AL – Berkadia recently closed the sale of The Retreat at Dublin Creek, a 112-unit apartment community located in Montgomery.  Hallmark Dublin Creek, LLC, purchased the apartment community for $9,800,000 or $87,500 per unit.


Joshua Jacobs, Associate  and David Oaklely, Managing Director of Berkadia Real Estate Advisors, LLC in Birmingham, negotiated the transaction representing the seller, Retreat at Dublin Wildwood, LLC. 

Built in 2006, The Retreat at Dublin Creek, an Institutional Quality Class “A” asset, is a two-story, garden-style apartment community situated on 14.41 acres with an average unit size of 1,204 square feet. 

Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, is an industry-leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. 

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


Beth Payan Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com

Crossman & Co. Negotiates Seven New Leases for more than 27,790 Square Feet at Five Palm Beach County, FL Retail Centers


Kim Fitzgerald
Palm Beach County, FL--- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently negotiated seven new leases for a total of 27,797 square feet at five Palm Beach County retail centers.

Senior Associates Kim and John Fitzgerald, who handle leasing and management for Crossman & Company in southeast Florida, represented the landlords in lease agreements with the following tenants at the following shopping centers:

The Shoppes at Wellington Green on Forest Hill Blvd. west of 441– Bethesdia Health leased 11,148 square feet and Exit Realty 2,835 square feet;

Hampton Square, on Hampton Drive and Kimberly Blvd. E. of 441– Congregation Shaarie synagogue leased 5,635 square feet and Mama’s Pizza leased 1,804 square feet;

 Polo Grounds Shopping Center on S. Military Trail in West Palm – Wing Stop leased 1,488 square feet and Wireless One leased 1,280 square feet

The Shoppes at Jupiter on N. U.S. Highway 1 – Rock Steady Juice Joint leased 1,280 square feet;

Grove Market on Seminole Pratt Whitney Rd in Loxahatchee – Afterburn Fitness leases 2,400 square feet.

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

Beth Payan Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com

Arbor Launches ALEX, a Groundbreaking Online Multifamily Agency Lending Platform for Borrowers, Brokers and Correspondent Lenders


Ivan Kaufman
UNIONDALE, NY (Feb. 5, 2016) – Arbor Commercial Mortgage, LLC, one of the nation’s largest direct commercial real estate lenders, today unveiled ALEX (Arbor LoanExpress), the multifamily industry’s first ever, all-agency, online loan origination platform.

 Developed for direct borrowers, brokers and correspondent lenders, ALEX is designed to streamline and organize a historically complex multifamily lending process, helping clients easily and efficiently obtain market-leading Fannie Mae and Freddie Mac financing. 

ALEX will provide the fastest loan evaluation in the industry and incorporates the first ever use of e-signature execution for certain forms used in multifamily agency lending.

“As a true leader in the small balance agency lending business, we are both proud and excited to revolutionize multifamily financing with ALEX,” stated Ivan Kaufman, Arbor’s Chairman and CEO.

“We incorporated our years of success, world-class customer service and small loan experience in building a proprietary technology that allows us to reach new customers and provide our highly valued repeat clients with an organized, transparent and efficient experience.

“In today’s fast-paced world, we understand our clients’ needs for a quick response time, and ALEX leverages technology to provide quick feedback and allows our clients stay on the pulse of the loan process with just the click of a button.”

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

Christopher Ostrowski

Lincoln Property Co. Arranges Two New Leases at Governors Lakes 100 in Atlanta’s Peachtree Corners Submarket


 
Matt Davis
ATLANTA, GA (Feb. 4, 2016) – Lincoln Property Company (Lincoln) has arranged two new leases at Governors Lakes 100, an office building located in Atlanta’s Peachtree Corners submarket. Matt Davis and Jeff Henson represented the landlord in the transactions.

Century Communities, represented by Bennett Gottlieb and John Thornton of CBRE, signed a new 25,464-square-foot lease. Data Oceans also signed a 6,796-square-foot renewal, and Bill Leonard of Wm. Leonard & Co. represented the tenant.

Governors Lakes 100 is located at 3091 Governors Lake Drive in Norcross. The Class A office building totals 101,052 square feet and offers free covered deck and surface parking, efficient floor plans, an on-site fitness facility, walking/running trails and conference facilities. With the two new leases, Governors Lakes 100 is 88 percent leased.

The property’s sister building, Governors Lakes 200, is 100 percent available. The 102,364-square-foot Class A building offers a unique corporate relocation opportunity in a controlled park and a wooded setting featuring a 4.7-acre lake.  The building has 20,000-square-foot floorplates, a mix of open and private offices, and visibility along Peachtree Industrial Boulevard.


Jeff Henson



“There’s been a wave of tenants signing leases at Governors Lakes 100, thanks to its prime location with easy access to I-285,” Davis said. 

“The property’s sister building, Governors Lakes 200, offers a unique leasing opportunity for a large corporate user in a submarket with limited options, as there are currently only two buildings with this kind of availability.” 

Davis and Henson also secured a new 4,578-square-foot lease with Joynus Staffing at Peachtree Corners Corporate Center, located at 4855 Peachtree Industrial Blvd. in Norcross. 


The single-story office building totals 109,293 square feet, and includes a flexible design and easy access to Starbucks, FedEx, PNC Bank, Jimmy Johns, Zaxby’s and The Forum.

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

Savannah Durban
The Wilbert Group
404-343-0870


Thursday, February 4, 2016

The Habitat Company Adds More Than 1,000 Rental Units in Tampa, FL


Sheila Byrne

CHICAGO, IL – The Habitat Company, a leading multifamily property developer and manager, announced it has added another 1,019 units to its management portfolio, bringing the company’s total number of real estate assets under management to more than 24,000 residences.

Habitat has been selected by Goff Capital Partners as property manager for four individual market-rate properties in Tampa, Fla., and the surrounding area.

This marks the second management portfolio Chicago-based The Habitat Company has been awarded by Goff in less than three months.

 In November 2015, Goff added an additional 3,600 units to Habitat’s portfolio with the assignment of seven apartment communities in Birmingham, Ala.

 Habitat also serves as property manager for four other Goff properties located in Ann Arbor, Mich. and St. Louis, Mo.

“We’ve been managing apartments in the Tampa area for more than 3 years, so we’re proud to be expanding our footprint, and our management team, in such a desirable market,” said Sheila Byrne, executive vice president of property management at The Habitat Company.

“And having managed other Goff Capital Partners properties, we certainly understand the company’s needs, as well as those of its residents, which will allow us to continue to strengthen our relationship and provide best-in-class property management and the highest level of service.”

The four Tampa-area properties are all garden-style communities and include:

·     The Park at Elland, 218 units in Clearwater
·     The Park at Gibraltar, 207 units in Clearwater
·     The Park at Knightsbridge, 228 units in Riverview
·     Westbury at Lake Brandon, 366 units in Brandon

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

  Cara Mooses, cmooses@taylorjohnson.com, 312.267.4523  



MBA Forecasts Commercial/Multifamily Mortgage Bankers Originations to Hit New Record in 2016


Jamie Woodwell
ORLANDO, FL (Feb. 1, 2016) -- The Mortgage Bankers Association (MBA) projects originations of commercial and multifamily mortgages will grow to $511 billion in 2016, an increase of 3 percent from 2015 volumes and slightly more than the previous record of $508 billion originated in 2007.  

Mortgage banker originations of multifamily mortgages are forecast at $202 billion in 2016, with total multifamily lending at $262 billion.

“This past year was extremely strong for commercial real estate finance,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research.

“Property incomes are rising, interest rates are low and property values are up.  We expect the momentum to continue into 2016 and to support both the demand for and supply of commercial and multifamily mortgage capital. 

“We anticipate a growing economy, coupled with only gradual increases in interest rates, will continue to support a strong commercial property market. But, there is a chance that cap rates could increase more rapidly in response to rising interest rates, impacting property sales and mortgage originations.”

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

Ali Ahmad
(202) 557-2727



Wednesday, February 3, 2016

Atlantic | Pacific Cos. Acquires Three More Assets to Expand Its Multifamily Portfolio in Georgia


Mark Briggs

MIAMI, FL – Miami, Fla.-based Atlantic | Pacific Companies (A|P) is pleased to announce the acquisition of three multifamily communities in Georgia. The recently closed deals expand A|P’s regional reach to 15 multifamily communities within four years of opening its Atlanta office.

A|P currently holds 12 other communities in Georgia including four in Atlanta, one in Kennesaw, two in McDonough, one in Norcross, one in Dallas, one in Duluth, one in Brookhaven, and one in Decatur.

The three new multifamily acquisitions include:

The Atlantic BridgeMill, located at 1000 Preston Glen Circle in Canton, GA is located in Canton’s beautiful Bridge Mill master-planned development. The property houses 236 units including spacious one, two and three bedroom floor plans.

Ashley Forest is located at 9230 Nesbit Ferry Road, in Alpharetta, GA. The 220-unit community is set amidst a naturally wooded landscaped retreat in North Fulton County – considered to be one of Atlanta’s most affluent areas.

The Domain at Holcomb Bridge is located amongst 52 acres of lush wooded surroundings at 3383 Holcomb Bridge Road in Norcross. The property houses 420 units.


Atlantic BridgeMill Apartments, Canton, GA



A | P Companies plans to make capital improvements to all three properties including enhancements to the clubhouses, fitness centers and pool areas, as well as upgrades within the units.

Atlantic | Pacific Management (A|P Management), the property leasing & management platform under A|P, will handle all property management responsibilities for all properties.

Mark Briggs, Senior Managing Director at A|P Management remarked “We’re extremely excited to continue our smart growth in the Atlanta market with the addition of these three well located assets.  We look forward to introducing our successful upgrade skills to these three value-add opportunities.

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

Jessica Wade Pfeffer | Jessica Wade Inc.
  305.804.8424

Margie Sernik  | Jessica Wade Inc.
  786.200.2516


(800).918.1145