HFF closes sale of Parsippany, NJ office building

600 Parsippany Road Office Building, Parsippany, NJ

Stephen Simonelli

FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of an approximately 100,000-square-foot office building located at 600 Parsippany Road in Parsippany, New Jersey.

HFF marketed the property on behalf of the seller, Mack-Cali Realty Corporation.  A joint venture between Bukiet Building Management and Mountain Development Corp. purchased the asset free and clear of existing debt.

600 Parsippany Road is situated just off exit 40 of Interstate 287 at the four-way interchange with Parsippany Road.  The property is less than two miles from Interstates 80 and 280 and Routes 24, 46, 10 and 202, and less than 30 miles from New York City.  

The three-story, black glass building is 92 percent leased to notable tenants, including Aerotek; Level 3 Communications; Sonneborn; Certified Financial Services; Inglesino, Webster, Wyciskala & Taylor, LLC; Property Title Group, LLC and Dewberry.  

The building features a newly-renovated lobby with stone and tile flooring and a full-service café on the top floor.

Michael Oliver

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

“600 Parsippany road is a quality asset located within the prime Morris County office market,” Cruz said.  “The property provides the new owners with stable cash flow given its current occupancy and the potential upside given leasing the remaining space at higher rents.”

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

Kristen M. Murphy

Director, Marketing

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

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

krmurphy@hfflp.com

www.mack-cali.com

www.mountaindevelopment.com

HFF closes $30.5 million sale of Gateway Center in Charlotte’s central business district

Gateway Center, 901 West Trade Street, Downtown Charlotte, NC

 

Ryan Clutter

CHARLOTTE, NC – July 22, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $30.5 million sale of Gateway Center, a 10-story, 310,745-square-foot, multi-tenant office building in Charlotte’s central business district.

HFF represented the seller, KBS Real Estate Investment Trust, Inc., in the sale of the property to an undisclosed purchaser. 

Gateway Center is located at 901 West Trade Street between West Fourth and Trade Streets in the heart of downtown Charlotte.  This location is close to Bank of America Stadium, home to the NFL Carolina Panthers; Time Warner Cable Arena; BB&T Ballpark; Levine Center for the Arts and numerous dining and retail options.

 The transit-oriented property is within walking distance of the Greyhound and Light Rail stations and has easy access to Interstates 277, 77 and 85.  Bank of America and Johnson & Wales University are two of the tenants at the 90-percent-leased property, which features a sundries shop and a 149-space, below-grade parking facility.

Scot Humphrey

  A 1.622-acre parcel, currently used as a 29-space surface lot, was also part of the sale.

The HFF investment sales team representing the seller was led by senior managing director Ryan Clutter, director Scot Humphrey, managing director Ralph Smalley, and associate director Christopher Lingerfelt.

“We received tremendous interest in the Gateway Center offering further demonstrating the appeal and national attention Charlotte and the Carolinas are receiving from institutional investors,” commented Clutter.

 “Well-located, urban assets that offer notable upside potential for investors are currently in high demand and we believe this pattern is poised to continue for the foreseeable future.” 

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

Kristen M. Murphy

Director, Marketing

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

HFF closes sale and arranges financing for Plaza at Solana mixed-use development in Westlake, TX

Plaza at Solana, Westlake, TX

 DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged acquisition financing for Plaza at Solana, a three-building office and retail mixed-use development in the suburban Dallas community of Westlake, northwest of Dallas/Fort Worth International Airport.

HFF marketed the property on behalf of the seller, Equity Office.  Harbert Management Corporation purchased the asset for an undisclosed amount.  Additionally, HFF worked on behalf of the new owner to secure the five-year, fixed-rate acquisition loan with one two-year extension through LegacyTexas Bank. 

Dallas-Fort Worth International Airport

Plaza at Solana is positioned at 1301 Solana Boulevard within Solana Business Park, a mixed-use business park featuring offices, a Marriott hotel, Larry North Fitness Club, retail, restaurants and jogging trails.

 The asset’s location at the intersection of Solana Boulevard and State Highway 114 allows for access to the entire north Texas region via State Highway 114, U.S. Route 377 and Interstate 35. 

The property is proximate to Dallas/Fort Worth International Airport, Southlake Town Square and three of Dallas-Fort Worth’s top-four suburbs.  The buildings total 359,873 square feet and are leased to a variety of tenants, including Wells Fargo, Verizon Wireless, Audatex, Echo Locum Tenens, Pfizer, Western & Southern Life Insurance Company and Midwest Hospitality.

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

Kristen M. Murphy

Director, Marketing

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

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

krmurphy@hfflp.com

www.LegacyTexas.com

www.harbert.net.

www.equityoffice.com.

Passco Cos. Acquires 236-Unit Class AA Multifamily Asset in Louisville, KY MSA for $50.4 Million

The Veranda Apartments at Norton Commons, Prospect, KY

Colin Gillis

LOUISVILLE, KY – Passco Companies, LLC has acquired The Veranda, a 236-unit multifamily community in the highly sought-after Norton Commons master-planned community in Prospect, Kentucky, a growing submarket of the Louisville MSA, for $50.4 million.

 “The Veranda at Norton Commons is the only ultra-luxury rental option within one of the best-executed master planned communities in the Southeast,” explains Colin Gillis, Vice President, Acquisitions - Southeast at Passco Companies. 

“Norton Commons is the embodiment of a high-quality lifestyle destination, with unrivaled walkability to employment, boutique retail, dining, entertainment and recreation.” 

The Louisville MSA is experiencing rapid economic growth, resulting in strong demand for multifamily product throughout the region, according to Gillis.

“The demographic profile at The Veranda is one of the most impressive we have ever seen,” he says.  “The region continues to demonstrate strong employment growth, high average income levels, and a highly educated workforce.  Market fundamentals are extremely strong, and will drive continued demand for the asset over time.”

            Gillis notes that job gains in the Louisville MSA far exceed multifamily deliveries. Approximately 8,500 new jobs have been added year-over-year, while only approximately 1,000 new multifamily units are being constructed each year. Further, the unemployment rate in Louisville is 4.6 percent, which is well below the national average of 5.5 percent. 

Mike Kemether

  “The median household income within a one-mile radius of the area is $115,000, a number that is consistent with the income levels seen at the property,” says Gillis. 

“In addition, rising construction costs, expensive nuances that accompany developing within Norton Commons, and land prices exceeding $1 million per acre will make the addition of new rental units extremely difficult. 

“This provides Passco with a competitive advantage over any new future development in Louisville for many years to come.”

Mike Kemether in Cushman & Wakefield’s Atlanta office adds, “The Veranda at Norton Commons is a unique project, strategically positioned as the only apartment component within the Norton Commons master planned community.”

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

Devin Ugland / Lexi Astfalk

Brower, Miller & Cole

(949) 955-7940

Dugland@browermillercole.com

  

@CushWake on Twitter.

www.cushmanwakefield.com

www.passco.com.

Walmart breaks ground on new Supercenter at Metrocenter Mall in Northwest Phoenix, AZ

  

Thelda Williams

PHOENIX, AZ – The next chapter has begun in the grand history of Metrocenter Mall.

Officials with Walmart, the City of Phoenix and Carlyle Development Group – along with area business leaders – were on hand to conduct a ceremonial groundbreaking for a new Walmart Supercenter. The project represents the single largest capital investment in Metrocenter Mall in decades.

“Metrocenter Mall is a Phoenix icon that has served shoppers in this community for decades,” said Phoenix City Councilwoman Thelda Williams. 

“Together, this Walmart and City Council’s recent approval of a new development plan for Metrocenter symbolize re-investment and rebirth for this critical community asset.”

Construction begins immediately on the approximately 148,000-square-foot store on the south side of Metrocenter Mall, near I-17 and Dunlap. 

The Supercenter will take shape on the site of the former Broadway building, which was recently demolished and had been vacant since 2006. The Walmart is slated to open in Spring 2017.

“Those of us at Walmart are excited this project will both help us serve our customers better while playing an important role in the continued revitalization in the Phoenix landmark that is Metrocenter Mall,” said Paula Ginnett, a Walmart Vice President and Regional General Manager. 

“This site is going to be buzzing with shoppers next year, and that’s a great thing – for the City of Phoenix, area businesses and Metrocenter Mall.”

Paula Ginnett

Metrocenter Mall opened in 1973 as the biggest shopping center in Arizona and one of the largest nationwide. Recent years saw Metrocenter challenged by the establishment of competing regional malls, changing shopping patterns and the Great Recession.

 Now, Metrocenter Mall owner Carlyle Development Group, the City of Phoenix and community leaders are intent on bringing new life to the area.

In June, the Phoenix City Council unanimously approved a Planned United Development (PUD) application for 130 acres in and around Metrocenter Mall. The new zoning allows for multiple new uses, including office, senior housing, multifamily housing and healthcare. It also provides for increased height and density at the infill site.

"Even in our early planning, the name 'Walmart' would come up regularly as a great fit for a mixed-use Metrocenter development,” said Warren Fink, COO of Carlyle Development Group.

“With our new zoning, we're now able to actively pursue that vision through the addition of elements like office, senior housing and medical uses. Walmart is a valued part of that mix, and a welcome addition to the neighborhood at large. We're very pleased to celebrate their groundbreaking."

The new Walmart Supercenter will provide shopping convenience and offer quality, value-priced general merchandise that includes apparel, electronics, toys and sporting goods. The store also will feature a full-service pharmacy and complete line of groceries, including organic selections, fresh dairy and meat departments and local favorites.

Warren Fink

Walmart will construct the Supercenter with industry-leading technology to maximize energy efficiency, conserve water and minimize waste. Environmentally responsible features will include LED lighting, high-efficiency HVAC units and the use of drought-tolerant landscaping irrigated with a low-flow and drip watering system.

Once open, the Supercenter will employ an estimated 250 associates. A mix of full- and part-time positions will be available throughout the store, including: department managers, customer service, personnel, maintenance, sales associates, stocking positions, cashiers and more.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

www.corporate.walmart.com;

 merchandise sales: www.walmart.com

HFF hires Doug Rodio as a senior managing director and co-head of its Philadelphia office

Doug Rodio

 PHILADELPHIA, PA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has hired Doug Rodio as a senior managing director in its Philadelphia office.  Mr. Rodio will co-head the office alongside senior managing director Mark Thomson, who has served as an office head since the opening of the office in December 2013.  

Additionally, Mr. Rodio will focus on office investment sales in Greater Philadelphia and throughout the northeastern United States.

Mr. Rodio joins HFF from Jones Lang LaSalle (JLL) where he was a managing director and co-head of the Philadelphia Capital Markets Group. 

 He has 13 years of industry experience and has been involved in more than 200 assignments covering a wide range of office, industrial, retail, multi-housing and land sales and financings totaling more than $6 billion in volume.

 Prior to joining JLL in 2010, Mr. Rodio held senior investment sales positions at CBRE and Marcus & Millichap where he was consistently a top producer.  He was elected to the National Board of Directors for NAIOP in 2014 and is also an active member of the Urban Land Institute. 

Mark Thomson

Mr. Rodio has served as a guest lecturer at the Daniel M. DiLella Center for Real Estate at Villanova University and attended Penn State University where he was a member of the varsity baseball team. 

HFF’s Philadelphia office opened with five employees in 2013, and today has a total of 24 transaction professionals, analysts and support staff for an increase of roughly 380 percent.

“Doug and I started in the business together more than a decade ago, and we have maintained a great friendship ever since,” said Thomson.  

“I am very excited to add one of the most dominant producers in our region to the HFF team, and on a personal level, I am looking forward to working with Doug again so we can continue to build a significant presence here in Philadelphia.”

“Doug is an extremely well-respected broker with not only a stellar track record, but also a stellar reputation,” added Thomson. 

 “He exemplifies the caliber of character and cultural integrity that HFF requires, which is why he is joining us in a leadership position.  Doug’s addition fills a local need for us in the office sales arena, and we are anxious to add the top market share in office to our existing top market shares for multi-housing and retail.”

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

HFF closes $15 million sale of three office properties within the Mack-Cali Business Campus in northern New Jersey

Four, Five and Six Century Drive Within Mack-Cali Business Campus, Parsippany, NJ

Jose Cruz

FLORHAM PARK, NJ –- Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $15 million sale of 4, 5 and 6 Century Drive, three office buildings totaling approximately 280,000 square feet within the Mack-Cali Business Campus in Parsippany, New Jersey. 

HFF marketed the property on behalf of the seller, Mack-Cali Realty Corporation, and procured the buyer, a partnership between Bergman Real Estate Group and Time Equities, Inc.  The properties were sold free and clear of debt. 

4, 5 and 6 Century Drive are positioned within the Morris County community of Parsippany near the intersection of three of the state’s most highly traveled highways - Interstates 287, 80 and 280.

 This places the property within a 35-minute drive of New York City and within close proximity to corporate neighbors including Tiffany’s, Medicines Co., T-Mobile, Wyndham, GAF and Avis, among others.

 Built in 1981, features include a full-service cafeteria, excess parking, a picturesque courtyard with fountain and separate picnic areas. 

The Mack-Cali Business Campus that the properties reside in, offers additional amenities including a Bright Horizons child care center, a Hilton hotel, a Residence Inn by Marriott hotel, and restaurants including Ruth’s Chris Steak House.

Kevin O'Hearn

 Wegman’s grocery store and several adjacent restaurants are currently under construction in the park.

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

The Bergman/Time Equites team was represented by Michael Bergman, president, and Michael Difede, director of acquisitions of Bergman Real Estate Group, and Aaron Medeiros, director of acquisitions for Time Equities. 

“These assets have a significant amount of upside and we are seeing more interest from the investor community for well-located office properties that offer the opportunity to add value,” stated Cruz.

“We are pleased that Mack Cali and HFF selected us to purchase these quality buildings,” explains Michael Bergman.  “While Mack Cali has done a nice job in maintaining these assets, we will continue to make several improvements and add new amenities to provide tenants great value for the cost.

“The tenants will also benefit from the on-going enhancements Mack Cali is planning for their existing Parsippany Business Campus.” 

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

Kristen M. Murphy

Director, Marketing

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

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

krmurphy@hfflp.com

www.bergmanrealty.com.

www.mack-cali.com.

HFF closes sale of the leasehold interest of a vacant grocery store near Seattle, WA

Nick Foster

 NEWPORT BEACH, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of the leasehold interest of a vacant building formerly occupied by Haggen Food & Pharmacy in the Seattle suburb of Burien, Washington.

HFF marketed the property on behalf of the seller, HH Property North, LLC.  Five Corners Leasehold LLC, purchased the leasehold interest for an undisclosed price.

Completed in 1996, the 40,593-square-foot building is part of the Five Corners Shopping Center, which is also home to Trader Joe’s, Panda Express, Starbucks, Freedom Fitness, Verizon and Sunny Teriyaki.

 Located at 15840 1st Avenue South, the building is at the intersection of South 160th Street and 1st Avenue South just off Highway 509 near Seattle-Tacoma International Airport.

The HFF investment sales team representing the seller was led by Nick Foster, Nick Kassab and Mark West.  The buyer was represented by Brendan Powell of Marcus & Millichap.

“This was an excellent opportunity to own a quality retail building within a dynamic shopping center in the Seattle MSA,” Foster said.

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

Kristen M. Murphy

Director, Marketing

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

HFF expands its Pacific Northwest multi-housing investment sales team with hiring of director Christopher Ross

Christopher Ross

 PORTLAND, OR –– Holliday Fenoglio Fowler, L.P. (HFF) announced Christopher Ross has joined the firm as a director.  Mr. Ross will focus on multi-housing investment sales in the Seattle market and will work alongside managing director Ira Virden and director Carrie Kahn, who are based in HFF’s Portland office.

Mr. Ross, who has more than 11 years of commercial real estate experience, joins HFF from Moran & Company, where he was most recently a director.  During that time, he was involved in the closing of more than $2.2 billion in multi-housing sales in Washington and Oregon. 

Prior to that, he worked as a portfolio analyst within the asset management group at Deutsche Bank Mortgage Services.  

Mr. Ross holds a bachelor’s degree in Financial Economics from Western Washington University.  Additionally, he received a certificate in commercial real estate from the University of Washington.    

“We are excited to welcome Chris as a member of HFF’s growing Pacific Northwest multi-housing team led by Ira Virden.  Chris’ extensive experience in the Seattle market coupled with his deep relationships with the local owners and operators will translate into an elevated level of service for our current and future clients in this region,” said Nicholas Kucha, senior managing director and co-head of HFF’s Portland office.  

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

Kristen M. Murphy

Director, Marketing

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

Meridian Capital Group Arranges $19.5 Million in Permanent Financing for the Refinance of a Multifamily Property in North Miami Beach, FL

Jonathan Zilber

New York, NY, July 27, 2016 – Meridian Capital Group, America’s most active debt broker, arranged $19.5 million in permanent financing for the refinance of a multifamily property located in North Miami Beach, FL.

The three-year loan, provided by a balance sheet lender, features a competitive fixed rate of 3.10% and one year of interest-only payments. This transaction was negotiated by Meridian Senior Vice Presidents, Jonathan Zilber, based in the Company’s Cleveland, OH office and Steven Halpert, based in Meridian’s Iselin, NJ office.

Aventura Oaks Apartments, a three-story, 204-unit multifamily building, located at 1572 NE 191st Street in North Miami Beach is conveniently situated in a prime area with easy access to world renowned shopping, an array of dining and entertainment options and famous South Florida beaches.

The property is also in close proximity to Interstate 95, the Florida Turnpike and the Palmetto Expressway. Aventura Oaks Apartments features a number of amenities, which include a fitness center, lounge and pool.

“The property, purchased in late 2014, wasn’t fully seasoned when we went to market and the client was seeking maximum proceeds,” said Mr. Zilber. “We highlighted to the lender the property’s prime location and stressed that 75% of the property units are being remodeled, which will lead to significant upside,” he added. “The lender agreed to one year of interest-only payments to improve cash flow during the renovation process.”

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

Jonathan Stern

Meridian Capital Group

212/972-3600

jstern@meridiancapital.com

www.meridiancapital.com

NAI Realvest Negotiates Central Florida Sales of Industrial Properties in Casselberry, Sanford, DeBary Totaling $824,600

Maria Van Warner

ORLANDO, Fla. — NAI Realvest recently negotiated industrial sales including three condo units in Casselberry, four in Sanford and industrial development land in Debary totaling over $824,600.00.

Paul P. Partyka, Partner at NAI Realvest and Associate Juan Jimenez represented Anchor Road Commerce Center in the sale of three industrial condos totaling 3,600 useable square feet for $225,000.  Units 1101, 1107 and 1113 at 301 Ryder Lane in Casselberry were purchased by Deforest Davis represented by Maria Van Warner of Fannie Hillman & Associates.

Michael Heidrich,  principal at NAI Realvest, represented Landlord Small Bay Partners LLC of Maitland in the following sales at 4260 Church St. in Sanford:  Units 1348 and 1450 totaling 2,700 useable square feet to DeBary-based Chairman Storage for $202,500;   Units 1426 and 1434, each with 1,350 square feet, to local tenants Tynic Somers Properties, LLC and Whalzz, LLC respectively.

Ana Somers

Both buyers paid $98,550.00 for the industrial condos and were both represented by Ana Somers of Watson Realty Corp

In DeBary, Heidrich and Associate Patty Nolff negotiated the $200,000 sale of Lot 9 in Springview Commerce Center -- a one-acre tract of industrial land at 231 Springview Commerce Drive representing the Sellers Saulo and Licia Bomfim of DeBary.  The Buyer, Michael Tumminello of DeLand was represented by Peter Petrilli of Custom Builder Realty, LLC.  

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

NAI Realvest Negotiates Long Term Leases for Industrial space totaling 10,400 Square Feet at Monroe and Goldenrod CommerCenters in Central Florida

 

Patty Nolff

ORLANDO – NAI Realvest recently completed four long term lease agreements for industrial space totaling 10,400 square feet in Monroe CommerCenter in Sanford and Goldenrod CommerCenter in Orlando.

Michael Heidrich, a principal at NAI Realvest and Associate Patty Nolff represented local landlord Monroe South SPE, LLC, in a new lease for 2,000 square feet at Monroe South to Comic Central and in a lease renewal of 4,000 square feet at 655 Progress Way where Fastenal Company is a long time tenant.

Heidrich also negotiated two lease renewals at Goldenrod CommerCenter – one suite with 2,206 square feet occupied by Dynamic Medical Systems, LLC and one 2,191 square foot suite where Mobile Oval Auto Repair, LLC is the tenant.  

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

Munilla Construction Management (MCM) wins $66M Contract to Build School at Guantanamo Bay Naval Base

  

From left: Raul Munilla, Juan Munilla, Jorge Munilla, Lou Munilla,
Fernando Munilla and Pedro Munilla

Miami/Cuba — MCM, a Cuban-American, family-owned construction company specializing in general building and heavy civil construction, was awarded a $66 million project to build a multi-story pre-kindergarten through 12th grade elementary-middle-high school at the Naval Station Guantanamo Bay, Cuba (GTMO).

“In the past 27 years, MCM has built over 35 educational facilities, valued at over $320 million, in the United States and Panama,” MCM Vice President Alexis Leal said.

Alexis Leal

The 112,000-square-foot project will consolidate and replace the current W.T. Sampson School to create space for 275 students and 50 staff members. It is expected to be completed by November 2018.

The project scope is to construct a multi-story building composed of a shallow foundation, steel frame and reinforced masonry walls with decorative masonry and hard coat stucco veneer.

The interior of the school will include learning studios, computing center, science labs, gymnasium, performance spaces, dining areas, art room, music room, science lab, learning impaired space, career technical education, counseling areas, health offices, administrative offices, staff collaboration areas, and other required areas for a fully functioning elementary-middle-high school.

“We are extremely excited to go back to the only free part of our homeland to start building. It is also especially gratifying to be able to serve the troops of our great country,” said Pedro Munilla, MCM Board Member and one of the six brothers who owns the firm.

Pedro Munilla

Founded in 1983, MCM is a family-owned construction company headquartered in South Florida, with offices in Texas and Panama. The firm specializes in general building and heavy civil construction, focusing on aviation, education, government facilities, transportation, roads and bridges, and commercial buildings. 

MCM provides pre-construction, design-build, design-build-finance, construction management, general contracting, and public-private partnership services. 

The firm is an Engineering News-Record (ENR) Top-400 Contractor with more than 1,000 employees in the U.S. and Panama. MCM is an ISO 9001:2008 company and is certified as a minority-owned firm with the Southern Florida Minority Supplier Development Council.

For more information, visit www.mcm-us.com or call 305.541.0000.

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

Yarden Cohen

 Director of Social Media, BoardroomPR

ycohen@boardroompr.com

O 954-370-8999

C 954-559-0827

@Yardycohen

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

HFF named to market for sale 11-property multi-housing portfolio in core U.S. markets

 

Matthew Lawton

CHICAGO, IL  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has been named to market for sale an 11-property, 3,039-unit multi-housing portfolio located in several core markets across the United States.

HFF is marketing the offering on behalf of KBS Legacy Partners Apartment REIT, Inc., a public, non-traded real estate investment trust (REIT) sponsored by KBS Capital Advisors LLC (the REIT’s advisor) and affiliates of Legacy Partners Residential Realty LLC. 

The portfolio is being offered on a free and clear basis and may be purchased in its entirety, as a subset of pooled assets or individually.

The portfolio totals more than three million rentable square feet and encompasses garden-style and mid-rise communities with an overall occupancy rate in excess of 95 percent as of May 31, 2016.

 More than half of the assets were constructed between 2002 and 2010 and all have been institutionally maintained and operated since completion.  

The properties in the portfolio are: Watertower Apartments in Eden Prairie, Minnesota; Poplar Creek in Schaumburg, Illinois; Legacy at Martin’s Point in Lombard, Illinois; Lofts at the Highlands in St. Louis, Missouri; Legacy at Valley Ranch in Irving, Texas;

Watertower Apartments, Eden Prairie, MN

Crystal Park at Waterford in Frederick, Maryland; The Residence at Waterstone in Pikesville, Maryland; Legacy Grand at Concord in Concord, North Carolina; Wesley Village in Charlotte, North Carolina; Legacy Crescent Park in Greer, South Carolina; and Millennium Apartment Homes in Greenville, South Carolina.

The HFF investment sales team representing the seller is led by executive managing director Matthew Lawton along with local HFF teams in the respective markets.

“This well-balanced, geographically diverse portfolio presents investors with a unique opportunity to not only acquire institutional high-quality assets in key markets, but, if purchased in its entirety, also presents the opportunity to acquire the REIT vehicle itself in its entirety providing additional flexibility to the potential buyer’s investment platform,” said Lawton.

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

www.legacypartners.com.

www.kbs.com

HFF arranges $58.54 million construction financing for hotel development at The Battery in Atlanta, GA

                                                                                      

Rendering of Planned SunTrust Park, Atlanta, GA                  (photo courtesy of Atlanta Braves)

                           

Whitaker Johnson

DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $58.54 million in construction financing from U.S. Bank for the development of the Omni Hotel at The Battery Atlanta, a 264-room, full-service, luxury hotel that will serve as a cornerstone of the mixed-use community adjacent to SunTrust Park, the future home of the Atlanta Braves.

Working on behalf of the borrower, TRT Holdings, Inc. and Braves Development Company, LLC, HFF placed the 42-month construction financing with two one-year extensions with U.S. Bank.

Omni Hotel at The Battery Atlanta will be a 16-story premier property with 25 suites and three hospitality suites included in its 264 guest rooms.

 The hotel will feature approximately 12,000 square feet of meeting space, a restaurant with rooftop seating, outdoor pool with a deck and bar, state-of-the-art fitness center, wine and coffee bar, retail outlets on the third floor and concierge services. 

Anchoring the southern end of The Battery plaza, Omni Hotel at The Battery Atlanta will be situated just outside of the gates of SunTrust Park, the 41,500-seat stadium that will be the new home of the Atlanta Braves Major League Baseball team beginning with the 2017 season.

The Battery Atlanta, a mixed-use development is situated at the intersection of Interstates 75 and 285 in the northern part of Atlanta. 

The HFF team was led by senior managing director Whitaker Johnson and director Jim Curtin.

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

www.usbank.com.