HFF arranges $15 million financing for 67-unit apartment community in Los Angeles, CA

HoM @ West Temple Apartments, Silver Lake Neighborhood, Los Angeles, CA

LOS ANGELES, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $15 million in financing for HoM @ West Temple, a 67-unit, Class A apartment community in Los Angeles’ Silver Lake submarket.

HFF worked exclusively on behalf of the borrower, Sharp Capital (Sharp), to place the seven-year, 3.51 percent loan with Principal Real Estate Investors (Principal).  Sharp completed the property in February 2016, and the new financing will replace existing construction debt.

Jeff Sause

 Principal offered an early rate lock, securing the interest rate three months prior to funding when the property was 50 percent pre-leased in order for Sharp to complete leasing efforts.

HoM @ West Temple features a four-story building with one level dedicated to parking and a 750-square-foot café on the ground floor.

 Units have stainless steel appliances, quartz stone countertops, designer fixtures, walk-in closets, polished concrete floors or distressed wood-style flooring, in-unit security systems, and balconies/patios offering views of the garden, city skyline or Hollywood Hills.

 Community amenities include a landscaped courtyard, garden, grilling area, 24-hour fitness center, clubhouse with pool table, media center, car charging station and on-site management.  

The property is located at 3221 West Temple Street just off Highway 101 and Silver Lake Boulevard in the Silver Lake submarket, which is proximate to Dodger Stadium, Griffith Park and downtown Los Angeles.

The HFF debt placement team representing the borrower was led by director Jeff Sause.

“Placing long-term financing on this asset demonstrates both our longstanding commitment to the vibrant Silver Lake submarket, as well as the banking community’s confidence in Sharp,” said David J. Shophet, a principal of Sharp Capital.  “We look forward to continuing to participate in further development within this growing area of Los Angeles.”

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 $95.6 million sale of Two Tampa-area multi-housing communities

Columns at Brandon West Apartments, 10011 Balaye Run Drive, Brandon, FL

 

Matt Mitchell

TAMPA, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of two multi-housing communities in the Brandon submarket of Tampa, Florida, for a total of $95.6 million.

HFF marketed the properties in two separate transactions to one buyer, a private out-of-state investment company.

 The first of the properties, Columns at Brandon West, was marketed on behalf of a joint venture between ECI Group and funds managed by Ares Management, L.P. and sold for $46 million.

 The second asset, Westbury at Lake Brandon, was marketed on behalf of an affiliate of Goff Capital Partners and sold for $49.6 million.  Both assets traded free and clear of existing debt.

Columns at Brandon West, a 342-unit, Class A apartment community, is located at 10011 Balaye Run Drive in Tampa just off South Falkenburg Road offering access to Interstate 75, State Route 60 and the Selmon Expressway.

 The burgeoning area recently welcomed new developments such as the USAA’s 250,000-square-foot office campus, Bass Pro Shops and Topgolf, as well as the Brandon Healthplex, an outpatient hospital that is currently under construction. 

Zach Nolan

Completed in 2001, the 96-percent-leased property has 10 three-story buildings surrounding two scenic lakes and encompasses a combination of one-, two- and three-bedroom units featuring nine-foot ceilings, in-unit washers and dryers, walk-in closets and screened-in balconies/patios. 

Community amenities include a recently-updated clubhouse and poolside lounge, resort-style swimming pool, outdoor kitchen, fitness studio, movie screening room, self-service car wash and nature trail surrounding one of the property’s two lakes.

Westbury at Lake Brandon is located approximately three miles southeast of Columns at Brandon West at 1210 Westbury Pointe Drive.  The 366-unit property has immediate access to Lumsden Road and Causeway Boulevard, a popular retail corridor in Brandon, and is close to Interstate 75 and Westfield Town Center, a one million-square-foot mall. 

Completed in 2001, the 95-percent-leased, garden-style property offers one-, two- and three-bedroom units averaging 988 square feet featuring breakfast bars, designer kitchens, crown molding, full-size washers and dryers and walk-in closets.

 Common area amenities include a swimming pool and spa, barbecue and picnic area, state-of-the-art fitness center, clubhouse, coffee bar, business center, car care center, attached/detached garages and a lakeside walking trail.

  

Westbury at Lake Brandon Apartments, Brandon, FL

The HFF investment sales team representing the sellers in both transactions was led by managing director Matt Mitchell and associate director Zach Nolan.

“The apartment market in Tampa continues to offer investors solid fundamentals and a favorable outlook,” Mitchell said. 

“These two transactions also specifically highlight improving conditions in the Brandon market, where we have seen significant increases in jobs and hundreds of millions of dollars in development.”

HFF’s Tampa office was ranked as the top Commercial Real Estate Broker by the Tampa Bay Business Journal for total transaction volume closed in 2015. HFF Tampa’s multi-housing team is among the market’s most dominate with 3,300 units sold in the Tampa MSA year to date.

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 $27.2 million sale of 30-unit apartment building in Brooklyn. NY

333-335 Carroll Street Apartments, Brooklyn, NY

NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $27.2 million sale of 333-335 Carroll Street, a newly-redeveloped, 30-unit, Class A boutique apartment building in Brooklyn’s Carroll Gardens neighborhood.

HFF exclusively represented the seller, 333 Carroll Condominium LLC.

Originally built in 1931 as a warehouse loft building, 335 Carroll Street was redeveloped into residences in 2014. 

The five-story property blends original architectural elements with modern luxury finishes such as open layouts, 10-foot ceilings, hardwood floors, reclaimed wood, walk-in closets, stainless steel appliances, open-island kitchens and oversized windows.

 The property’s mix of studio, one-, two- and three-bedroom units average 984 square feet with some units comprising home office space and balconies.  Common area amenities include a rooftop deck offering panoramic views of Brooklyn and the Manhattan skyline, fully-furnished lounge with TV and pool table, fitness center and below-grade parking. 

Located at 335 Carroll Street between Hoyt and Bond Streets, the property offers nearby access to the F, G and R subway lines, Whole Foods, Carroll Park, and shopping and dining along the Smith Street and Court Street retail corridors.

The HFF investment sales team representing the seller was led by senior managing director Andrew Scandalios and managing directors Jeff Julien and Rob Hinckley.

 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

Lincoln Brokers Leases Totaling More Than 10,000 Square Feet at Executive Park, Atlanta’s Premier In-Town Office Park in Atlanta, GA

  

Jeff Henson

 ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) has secured one new lease and three lease renewals totaling 10,043 square feet at Executive Park, a 60-acre office park located at Executive Park Drive in Atlanta.

 Lincoln was retained by Emory Healthcare to lease and manage the exclusive in-town office park in February of this year. Jeff Henson and George Gwaltney of Lincoln represented the landlord in the transactions.

The details of the transactions are below:

 •      American Court Reporting Co. signed a 3,300-square-foot lease renewal in Building 52. Steve Hanna with Hanna Properties represented the tenant.

•      SiShield Technologies, Inc. signed a 1,224-square-foot lease renewal in Building 17.

•      New Century Hospice, Inc. signed a new 1,976-square-foot lease in Building 17. Rob Wolfe with Swearingen Realty Group, LLC, represented the tenant.

•      Chickasaw Nation Industries, Inc. signed a 3,543-square-foot lease renewal in Building 17.

George Gwaltney

“Executive Park is one of the biggest and most unique office sites in the city, offering a wide array of space from 1,000 square feet to 20,000 square feet, and Emory Healthcare is committed to investing significant capital to make this a truly outstanding property,” Henson said.

 “Since taking over the leasing and management of Executive Park we have already had significant success and we anticipate a continued wave of leases for the property in the coming months.”

Emory Healthcare, which anchors the six-building property, acquired Executive Park in the first quarter of 2016. The property currently features 378,882 square feet of Class B office space, frontage along I-85, and a desirable location between Buckhead and Emory.

Forty acres of the 60-acre site have been approved for future mixed-use development, including the 90,000-square-foot world-class training and sports medicine facility that the Atlanta Hawks recently partnered with Emory Healthcare to build.

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

Savannah Durban

The Wilbert Group

404-343-0870

sdurban@thewilbertgroup.com

JLL’s Buckeye Land Sale Ushers In Major Cardinal IG Glass Development; Manufacturer to build 250,000-SF project that will generate 100 new jobs

  

 

Anthony J. Lydon

PHOENIX, AZ – On behalf of Evergreen Devco Inc. and Evergreen-Apache & Southern LLC (Evergreen), the Phoenix office of JLL has completed the sale of 77 acres of land in Buckeye, Arizona to Cardinal IG Companies (Cardinal IG).

Cardinal IG will develop a 250,000-square-foot, build-to-suit advanced glass manufacturing facility at the site. The project will bring 100 new jobs to the City of Buckeye.

Cardinal IG is a wholly-owned subsidiary of Cardinal Glass Industries, a leading glass manufacturer with more than 6,000 employees and 37 manufacturing locations across the U.S.

 Its new custom built, sate-of-the-art manufacturing facility in Buckeye will produce high-quality, energy efficient insulating glass for residential window and door companies across the globe.

The development is expected to generate nearly $90,000 of direct annual revenue to the city, not including the indirect and induced positive fiscal impacts to the city of approximately $5 million over 20 years.

“This is Buckeye’s first significant industrial employment investment since 1992,” said JLL Managing Director Anthony J. Lydon, who along with JLL Managing Director Marc Hertzberg represented Evergreen in the land sale. “It was a perfect mix of a prime location and Buckeye’s 2015 decision to waive the municipal sales tax for energy to qualifying manufacturers.”

Marc Hertzberg

“The combination will return mutual benefits for Cardinal IG and the City of Buckeye for decades,” said Hertzberg.

Buckeye Mayor Jackie Meck agreed that the land sale is a pivotal one for the city. 

“This is a great company that Buckeye can partner with for many years, and it will provide great jobs for our residents,” Meck said. “I also hope that having Cardinal select Buckeye for locating its operations here will kick-start other manufacturing development in our city.”

The new Cardinal IG site is located just south of the southeast corner of Apache Road and Southern Avenue, approximately three miles south of Interstate 10 and three miles east of Highway 85 in Buckeye, Arizona.

Situated just north of the city’s historic downtown, the site is part of 152 acres controlled by Evergreen and marketed by JLL. Lydon and Hertzberg continue to market a remaining 75 acres for Evergreen on the direct southeast corner of Apache and Southern, and located immediately north of the Cardinal IG site.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

.Sale of Boynton Beach, FL Bank of America Building Arranged by Marcus & Millichap

Bank of America Building, 4793 North Congress Avenue, Boynton Beach, FL

Drew A. Kristol

BOYNTON BEACH, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of a 10,024-square foot retail property anchored by Bank of America in Boynton Beach, Florida.

            “Bank of America has occupied this Congress Avenue location since 1987 and has incredibly strong deposits of more than $124 million. 

"They recently extended their lease by an additional 10 years which shows their commitment to the site,” says Drew A. Kristol, a vice president investments in Marcus & Millichap’s Miami office.

Kristol along with Kirk D. Olson, also a vice president investments in Marcus & Millichap’s Miami office, represented both the seller, a joint venture between a New York based advisor and a Florida based investment firm, and the buyer, a private investor from Sunny Isles, Florida, in the transaction.

“This site was attractive due to the rare combination of corporate guaranteed rent along with major visibility along a high traffic corridor in South Florida,” adds Olson.

Bank of America occupies the entire ground floor of the two-story building. The second floor is 100 percent leased to a strong cross section of local professional tenants. The property has four drive-thru lanes and recent capital improvements including a new roof, newly painted exterior and a sealed and striped parking lot.

The building is an outparcel to Meadows Square, a 107,597-square foot neighborhood shopping center located on the southwest corner of Hypoluxo Road and North Congress Avenue. The recently renovated center benefits from daily commuter traffic to and from I-95 and has attracted several new tenants including Presidente Supermarket.

The Bank of America building is located at 4793 N Congress Avenue in Boynton Beach, Florida.

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

Kirk A. Felici

First Vice President/Regional Manager

Miami, FL

(786) 522-7000

Lifescapes International Completes Resort-Style Landscape Design for 264-Unit Luxury Apartment Community in Santa Ana, CA

Rendering for planned Nineteen01 Apartments, Santa Ana, CA

 

Julie Brinkerhoff-Jacobs

SANTA ANA, CA - Lifescapes International, an internationally recognized landscape architectural firm, has completed the design for Nineteen01, a four-story, 264-unit, luxury apartment community in Santa Ana, California.

The apartment community was developed by Lyon Living, a Newport Beach-based commercial real estate investment and development firm that specializes in multifamily communities.

“Nineteen01 reimagines and redefines what apartment living means in Orange County,” says Julie Brinkerhoff-Jacobs, President of Lifescapes International. 

"Our vision was to create a resort-style flair that combined intimate and dynamic spaces that would deliver a true live/work/play environment that residents are demanding.”

Lifescapes International designed the main entrance and exterior perimeter of the community, as well as an elevated recreation deck with resort-style pool and spa, private cabanas, central courtyard and outdoor seating areas, and gardens that flow throughout the entire property.

“Today’s younger millennial generation is seeking environments that are more than just a place to live, which is exactly what we were able to deliver with the landscape of this project,” says Brinkerhoff-Jacobs."

Frank T. Suryan Jr.

Lyon Living’s Chairman and CEO Frank Suryan adds, “Nineteen01 is a true lifestyle community that brings an unparalleled degree of luxury to a rapidly growing suburb of Orange County.

" We’ve integrated some of the most competitive amenities that inspire a true SoCal lifestyle. 

"We selected Lifescapes as the landscape architect based on our work with them on The Marke, another luxury multifamily community in Orange County. 

"They have an uncanny ability to elevate the resident experience through their innovative designs and do so on budget with long-term maintenance and durability in mind for the property owner.”

Nineteen01 is located at 1901 E First Street in Santa Ana, California.  The apartment community was designed by Coe Architecture International and Danielian Associates in collaboration with Lifescapes International’s Mike Meyers and Diego Alessi, and was developed by Lyon Living.

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

Katie Kea or Lexi Astfalk 

Brower, Miller & Cole
(949) 955-7940
Kkea@browermillercole.com

www.lifescapesintl.com.

Baird & Warner To Open New Office in Chicago’s South Loop

. 

Laura Ellis

 CHICAGO, IL — Baird & Warner, Chicagoland’s largest, locally owned, independent residential real estate services company, announced it has signed a lease for a new office located in the Transportation Building at 620 S. Dearborn St., which will be focused on providing brokerage, mortgage and title services primarily to the South Loop and its surrounding neighborhoods.

The new office builds upon the company’s exponential growth, marking its 28th location in the Chicago area and following two record-breaking years in revenues, including $7.2 billion in sales and 27,500 transactions in 2015.

Jim Psyhogios

“Baird & Warner has always been active in the South Loop, but with major developments like RiverLine and a massive 62-acre development bringing thousands of new residential units to the community, we’ll be well-positioned to leverage opportunities in this flourishing neighborhood,” said Laura Ellis, president of residential sales and the executive vice president of Baird & Warner.

“Our company has experienced record-breaking revenues for the past two years, and our expansion in the South Loop will build upon that success.”

The South Loop office is slated for occupancy at the end of the year. Like all of Baird & Warner’s offices, it will reflect the company’s one-to-one ratio, having a dedicated, noncompeting manager overseeing a single office.

Managing broker for the new location will be Jim Psyhogios, a real estate veteran and South Loop resident who has spent the last 20 of his 25 years in the industry providing brokerage services exclusively to the South Loop neighborhood. In fact, Psyhogios joined Baird & Warner earlier this year specifically to launch and manage the South Loop office.

“To have someone of Jim’s caliber leading our South Loop team speaks volumes about the success we envision for this new office,” said Ellis. “His knowledge and understanding of the neighborhood will be beneficial to everyone who walks in our door — whether they are a buyer, seller or an agent looking to join our family.”

“I’ve always been a champion of the South Loop as being one of most dynamic neighborhoods in Chicago, so I’m beyond excited to bring the best marketing and technology tools available to Baird & Warner’s broker associates, enabling them to make it easier for sellers and buyers to tap the neighborhood’s full potential,” said Psyhogios. 

   

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

Julie Liedtke, jliedtke@taylorjohnson.com, (312) 267-4521

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

www.BairdWarner.com

Lincoln Brokers Five New Office Leases Totaling More Than 49,000 Square Feet at One Eleven in Orlando, FL

  

Andrei Savitski

 ORLANDO, FL – Lincoln Property Company Southeast (Lincoln) has brokered five new office leases totaling 49,200 square feet at 111 N. Magnolia Ave. in Orlando. Austin Stahley of Lincoln represented the landlord in the transactions.

Details of the transactions are below:

·      Envy Labs signed a new 4,722-square-foot lease. Andrei Savitski and Paul Kelly of Coughlin Commercial represented the tenant in the transaction.

·      Houston International Insurance Group signed a new 5,569-square-foot lease. Andrei Savitski and Paul Kelly of Coughlin Commercial represented the tenant in the transaction.

·      Huitt-Zollars signed a new 13,667-square-foot lease. Andrei Savitski and Paul Kelly of Coughlin Commercial represented the tenant in the transaction.

·      Avyd Inc. signed a new 15,954-square-foot lease. Stahley represented both the landlord and the tenant in the transaction.

Paul Kelly

·      Ciber Inc. signed a new 9,288-square-foot lease. Jeff Streep of JLL represented the tenant in the transaction.

 “We’re very excited about the growth we’ve seen in Orlando during the last couple of years,” Stahley said. “We have signed more than 52,000 square feet of leases in the last six months at One Eleven, bringing the building to 92 percent occupancy.

“This gives us a lot of confidence for our upcoming developments, like our Tremont Plaza project, which will be the first new tower in downtown Orlando since One Eleven was built in 2008.”

One Eleven is a revolutionary 30-story mixed-use building in downtown Orlando comprising of a dynamic mix of retail, office and residential with breathtaking views of the skyline and Lake Eola. The 162,240-square-foot tower includes 10,000 square feet of retail space, 150,000 square feet of office space and 160 apartment units.

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

Savannah Durban

The Wilbert Group

404-343-0870

 sdurban@thewilbertgroup.com

NAI Realvest Brokers $610,000 Sale of Office-Retail Site In Orlando, FL

 

George Viele

 ORLANDO, FL – NAI Realvest recently negotiated the $610,000 sale of vacant development land at 4512 Old Goldenrod Rd. in Orlando.

NAI Realvest Associate George Viele negotiated the transaction on behalf of the local sellers, Edward W. and Elizabeth A. Carpenter.   

BRXW Holdings, LLC purchased the 1.23-acre tract which is zoned office-retail with 148 feet of frontage on South Goldenrod Rd. for a full service car wash.

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

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

Emerson International Negotiates Two Expansion Leases at Centerpointe II in Altamonte Springs, FL totaling 17,500 Square Feet

  

Kenneth Koch

Altamonte Springs, FL-- Emerson International recently completed two expansion lease agreements for a total of 17,535 square feet of professional office space at Centerpointe II, Emerson’s Class A office development at 220 E. Central Parkway in Altamonte Springs.  

Kenneth Koch, director of leasing for Emerson International negotiated both transactions on behalf of Emerson. 

Nirvana Health Services, a home healthcare provider, expanded for a total of 9,035 square feet and Preferred Plastic Surgery of Orlando, specializing in cosmetic surgery, expanded for a total of 8,500 square feet leased.

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

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

$7.5 million sale of 88-unit Lauderhill, FL apartment property arranged by marcus & Millichap

Viewmax Apartments, 2011 NW 55th Avenue, Lauderhill, FL

 

Daniel J. Cunningham

LAUDERHILL, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Viewmax Apartments, a 88-unit apartment property located in Lauderhill, Florida, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $7,500,000 equating to $85,227 per unit.

“The property has experienced high historical occupancy in large part because of Lauderhill’s infill location, high demographic density, and proximity to West Oakland Park Boulevard and Northwest 19th Street. 

The asset has averaged near 100 percent occupancy over the past several years,” says Daniel J. Cunningham, a vice president investments in Marcus & Millichap’s Fort Lauderdale office.

Cunningham along with Derek R. Gibbs, vice presidents investments, and Evan Richardson, associate, also in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from North Bay Village, Florida.  The buyer was a limited liability company from Plantation, Florida. 

Viewmax Apartments is a mid-rise, four-story, three-building, catwalk-style apartment complex. The property consists of 88 spacious, two-bedroom/two-bathroom units and has two elevators, on-site parking, laundry facilities on each floor and an on-site management office.

Located at 2011 NW 55th Avenue, the community sits on a 2.86-acre lot surrounded by condominiums of like age and composition and several entertainment venues. East of the community is the City of Lauderhill Aquatic Center, Mullin Park, and the Boys and Girls Club of Lauderhill. Immediately west is a Lauderhill Fire-Rescue substation and Royal Palm Elementary School.

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

Ryan Nee

Vice President / Regional Manager, Fort Lauderdale

(954) 245-3400

HFF arranges refinancing for waterfront hotel in downtown Charleston, SC

Courtyard Charleston Waterfront Hotel, Downtown Charleston, SC

ORLANDO, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a refinancing for the Courtyard Charleston Waterfront, a 179-room, Marriott Courtyard-branded hotel located near the historic district in downtown Charleston, South Carolina.

Michael Weinberg

Working on behalf of the borrower, JMH Hotels, HFF placed the seven-year, fixed-rate loan with Prudential Mortgage Capital Company.  Loan proceeds will be used to pay off an existing loan.

Overlooking the Ashley River, the Courtyard Charleston Waterfront features a terrace with water and marina views, outdoor waterfront pool, fire pit, whirlpool, state-of-the-art fitness center, 1,428 square feet of meeting and event space, four wet boat slips and The Ashley River Café, a breakfast restaurant serving American cuisine.

 The five-story hotel’s planned renovations will, among other improvements, convert the existing restaurant to The Bistro, a full-service restaurant with a bar. 

 Situated on 3.8 acres at 35 Lockwood Drive, the hotel is adjacent to the medical campuses of the Medical University of South Carolina, Roper St. Francis Hospital and the VA Hospital. 

The property is also located proximate to the Charleston Historic District and is two blocks from both U.S. Highway 17 and the terminus of Interstate 26.

The HFF debt placement team representing the borrower was led by managing director Michael Weinberg.

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.jhmhotels.com.

HFF closes sale of Class A multi-housing community in suburban Houston, TX

  

Woodland Hills, 3918 Atascocita Road, Humble, TX

 

Chris Curry

HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Woodland Hills, a 282-unit, Class A multi-housing community in the northeast Houston suburb of Humble, Texas.

HFF marketed the property exclusively on behalf of the seller, a joint venture between KKR and Crossbeam Concierge.  Interurban Corporation purchased the asset for an undisclosed amount.

Woodland Hills is located at 3918 Atascocita Road within a 15-minute drive of Generation Park, a deed-restricted, 4000-acre master-planned development that will include the FMC Technologies headquarters campus and the 52-acre Redemption Square corporate lifestyle district.

 Completed in 2009, the property has had an average occupancy above 92 percent during the past two years.  The gated, garden-style community has units averaging 880 square feet each and amenities, including a swimming pool with sundeck, fitness center, clubhouse, lounge and business center.

The HFF investment sales team representing the seller was led by managing director Chris Curry, senior managing directors Todd Stewart and Todd Marix and associate director JC Clemens.

Todd Stewart

“The Woodland Hills sale is indicative of the type of product that is finding success in the Houston market today – Class A and B assets in suburban locations with a low reproduction cost,” said Curry.  

“The interest in Woodland Hills began building immediately, and it went under contract before it was even formally launched to the market, a scenario that was mutually beneficial for all parties involved.”

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

Eric Retzlaff Joins Shopoff Realty Investments as Senior Vice President and National Sales Manager

 

Eric Retzlaff

IRVINE, Calif. –– Shopoff Realty Investments, a national manager of opportunistic and value-add real estate investments, announced Eric Retzlaff has joined the company as senior vice president and national sales manager.

“Eric is a seasoned professional with strong investment management experience that spans more than 30 years and includes a successful track record of sales growth and reputation for integrity,” said William Shopoff, chief executive officer of Shopoff Realty Investments.

 “We are pleased to welcome him to the team at Shopoff Realty Investments, where his extensive background in distribution, marketing, training and management will be a great fit with our efforts to consistently provide the highest level of service and support.”

Over the course of his career, Retzlaff has helped develop and manage direct and indirect investment offerings in real estate, energy, insurance and mutual funds. He has served in a variety of senior management functions, including as chief financial officer, chief compliance officer and chief marketing officer for FINRA member firms.

Prior to joining Shopoff, Retzlaff served as managing director of RightSource Distributors, where he managed and advised emerging sponsors with product design and capital formation.

William Shopoff

 Previously, he was executive vice president and head of securities, sales and distribution with Atel Capital Group, a private equity, real estate and finance group.

Beginning in 2010, Retzlaff was president of the broker-dealer for Lightstone Securities, managing sales, marketing and compliance activities, while representing both publicly offered non-traded real estate investment trusts and private placement real estate offerings.

During his career, Retzlaff has also been a leader with AXA Distributors, Aver Development Corporation, PIMCO Equities and Endeavor Management Company.

He earned a bachelor’s degree from Principia College, and a master’s degree from Claremont Graduate University.

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

Jill Swartz

Spotlight Marketing Communications

949.427.5172, ext. 701

jill@spotlightmarcom.com