Evergreen Real Estate Group Celebrates Grand Opening of Grandbrier of Prospect Heights in Prospect Heights, IL

Grandbrier of Prospect Heights Independent Assisted Living and Memory Care Community, Prospect Heights, IL

CHICAGO, IL (May 30, 2017) – Evergreen Real Estate Group, together with Pathway Senior Living, recently celebrated the grand opening of Grandbrier of Prospect Heights, a 101-unit independent, assisted living and memory care community in Prospect Heights, Ill.

 Prospect Heights Mayor Nicholas "Nick" Helmer was among the honored guests at the grand opening celebration, held on May 10. 

Diane Reier

The mayor joined Steve Rappin, president of Evergreen Real Estate Group; Diane Reier, lifestyle specialist at Grandbrier; and other area civic and business leaders for a ribbon-cutting ceremony to commemorate the opening.

During the event, guests enjoyed guided tours of the property and had the opportunity to speak with Grandbrier team members about the community’s residences and service offerings. Live music by the Paris Swing band played in the background while guests mingled and enjoyed appetizers, wine and other refreshments.

Steve Rappin

“It was really an exciting and grand event,” said Helmer. “Grandbrier of Prospect Heights is a beautiful community that will provide local area seniors and their loved ones with one of the finest assisted living and memory care facilities in the area.”

Located at 708 N. Elmhurst Road, Grandbrier of Prospect Heights includes a three-story, 69-unit independent and assisted living facility, as well as a single-story, 32-unit building for residents requiring memory care services.

Independent and assisted living residents can choose from spacious one- and two-bedroom floor plans, all of which include in-unit laundry and eat-in kitchens with large islands. Optional services will be available for residents requiring assistance with daily living activities.

“The opening of Grandbrier supports the city of Prospect Heights' commitment to caring for its growing senior population by offering a variety of housing options in a single state-of-the-art facility,” said Rappin. “This full spectrum of care allows seniors to comfortably age in place while receiving essential services and enjoying a vibrant, social atmosphere.”

Shared independent and assisted living amenities include indoor and outdoor dining venues; an outdoor living room with fireplace and grill; resident gardens; an on-site theater; library with technology center; chapel; salon and spa; and demonstration kitchen for chef presentations and resident cooking classes. Residents will also have access to a wellness suite, complete with physician offices and a therapy gym.

  

Mayor Nicholas J. Helmer

The memory care building offers a safe and secure environment with common areas including indoor/outdoor gardens, an outdoor walking courtyard and indoor circular walkways. It includes three residential wings, each with a cluster of private bedrooms surrounding a shared living room, family room, residential-style kitchen and dining room.

Grandbrier’s memory care residents also benefit from A Knew Day Memory Care, a groundbreaking program that has been proven to rehabilitate the brain through a process called rementia.

“Grandbrier was intentionally and thoughtfully designed to support the needs of both residents and their family members,” said Rappin. “With inviting common areas and residences that truly feel like home, Grandbrier provides a supportive environment where seniors can thrive.”

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

Kelly Shumaker, kshumaker@taylorjohnson.com, (312) 267-4519

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

www.evergreenres.com.

www.grandbrierassistedliving.com

$79 million sale of 50 Congress Street in Boston closed by HFF

50 Congress Street, Lobby, Downtown Boston, MA

BOSTON, MA, May 30, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $79 million sale of 50 Congress Street, a 179,872-square-foot office building occupying an entire city block in the heart of Boston’s bustling downtown.

Lauren O'Neil

HFF arranged the sale of the property on behalf of the seller, an affiliate of KBS Capital Advisors, and procured the buyer, a joint venture arranged between Jumbo Capital Management and Guggenheim Real Estate.

Coleman Benedict

Originally designed by renowned architect Andrews, Jaques & Rantoul as the headquarters for State Mutual Life Insurance, the building was constructed in two phases between 1910 and 1915.  

Today, it is 90 percent leased to over 60 tenants and features a vibrant first-floor retail component.  The tenant roster includes a mix of law firm, retail, private equity and financial services tenants, with 20 percent of the tenants having been in occupancy for more than 12 years.

“Jumbo Capital is excited to bring the success it has had with revitalizing over two million square feet of suburban assets to the downtown Boston market,” said Jay Hirsh, managing partner of Jumbo Capital Management. “50 Congress Street provides an excellent canvas to create an upscale and inviting feel while restoring many of the historic features of the property”.

  

“Downtown Boston is one of the strongest office markets in the United States with a vacancy rate that continues to remain very low and rents that are on the rise,” said Ben Sayles, director at HFF.  

“Being located just steps from Post Office Square and directly across from the future headquarters of Digitas/Publicis Groupe at Congress Square, 50 Congress Street occupies an irreplaceable position within the urban core.”

Ben Sayles

The HFF investment sales team representing the seller was led by Coleman Benedict, Christopher Phaneuf and Ben Sayles.

Along with the sale, HFF has also been retained by the buyer to secure acquisition financing, which is being led by Lauren O’Neil.

 Founded by Peter Bren and Charles J. Schreiber Jr. in 1992, KBS is one of the nation's preeminent buyers of commercial real estate and structured debt investments. 

In August 2014, KBS was ranked by Institutional Real Estate, Inc. and Property Funds Research as among the top real estate investment managers globally, and in December 2016, National Real Estate Investor ranked KBS the ninth-largest office owner globally. 

KBS has a strong reputation in the industry for efficient and timely closing on large and complex transactions in the office, industrial, multifamily and retail sectors. KBS also originates and acquires debt positions collateralized by stabilized and value-added properties.

KBS Realty Advisors has created six institutional commingled funds, 14 separate accounts with public and corporate pension funds and five sovereign wealth funds. KBS Capital Advisors was formed in 2006 as the exclusive advisor for KBS' publicly registered non-traded REITs, which are designed to give individual investors the ability to invest in a similar type of real estate as KBS pension fund and institutional partners.

 Jumbo Capital Management, LLC (“Jumbo Capital”) is a privately held, value focused, commercial real estate investment firm located in Quincy, MA. The firm was founded in 2009 by Jay Hirsh, who left Boston-based New Boston Fund, Inc. to pursue investment opportunities brought about by the “great recession”. 

Christopher Phaneuf

Jumbo has since grown to over 30 employees with leadership having a combined 80+ years of commercial real estate experience. Jumbo Capital invests in all property types and focuses on a range of transactions from $5-$300 million. Currently, the firm manages over 3 million square feet of commercial real estate in the Greater Boston area.

 Guggenheim Real Estate, a division of Guggenheim Partners, was formed in 2002 and manages approximately $1.5 billion of client assets invested across a wide spectrum of U.S. commercial real estate. GRE’s direct property investments include 9.1 million square feet of office, industrial, retail and multi-family property throughout the United States.

Guggenheim Partners is a global investment and advisory firm with more than $260 billion in assets under management and over 2,300 employees based in more than 25 offices around the world.

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

Kristen M. Murphy

Director, Public Relations

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 of Glenwood Plaza in Raleigh-Durham, NC

 

Glenwood Plaza Office Building, 3605 Glwnwood Avenue,  Raleigh-Durham, NC

 

Ryan Clutter

 CHARLOTTE, NC, May 30, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Glenwood Plaza, a 133,905-square-foot, Class A office building in Raleigh-Durham, North Carolina.

HFF marketed the property on behalf of the seller, American Realty Advisors, and procured the buyer.

Glenwood Plaza is situated on a ground lease across 8.8 acres at 3605 Glenwood Avenue, along the prestigious Glenwood Avenue corridor in West Raleigh.  

This “inside the beltline” location has superior regional connectivity via Glenwood Avenue/Highway 70 and Interstates 440 and 40, and easy access to Carolina Country Club, Crabtree Valley Mall, Downtown Raleigh, NC State University and PNC Arena.

 The five-story, fully leased property is anchored by BB&T Corporation and also functions as the headquarters for the law firm Manning, Fulton and Skinner, PA. 

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

Chris Lingerfelt

“Glenwood Plaza is one of the premier office buildings in the Raleigh market,” said Humphrey.  “The prestige of this location, coupled with the robust economic growth occurring in Raleigh-Durham right now, generated a significant amount of investor interest in the offering.”

“We anticipate institutional interest will continue to intensify across the region over the balance of the year as the market’s fundamentals continue to outperform other peer markets,” added Humphrey.

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

Kristen M. Murphy

Director, Public Relations

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

BLT Enterprises Expands San Diego, CA Footprint; Acquires Industrial Building in North San Diego for $9 Million

Bernard Huberman

SAN DIEGO, CA (May 30, 2017) – BLT Enterprises has acquired a 60,000 square-foot industrial building in the North San Diego submarket of Carlsbad, California from El Cedro, LLC for $9 million. As part of the transaction, El Cedro leased-back the entire property for three years. 

This acquisition comes on the heels of BLT’s recent purchase of a 71,000 square-foot flex industrial building in Kearny Mesa, which brings the firm’s holdings in San Diego to more than 600,000 square feet, according to Bernard Huberman, Founder and President of BLT Enterprises.

“These recent acquisitions complement our current holdings in San Diego, which includes properties in Sorrento Mesa, Carlsbad and Kearny Mesa,” says Huberman. 

“We continue to focus on these core submarkets due to their low vacancy, high demand, and significant barriers to entry.  In fact, we are about to break ground on a state-of-the-art 63,000 square-foot industrial building in Kearny Mesa.”

 San Diego’s combined industrial/R&D ended the first quarter of 2017 at 4.9 percent according to a report by Colliers.

“We see an opportunity to make significant improvements to this property to drive tenant demand and capture competitive rental rates as the lease rolls,” says Huberman. “Until such time, the sale-leaseback structure allows us to enjoy stabilized cash flow as we plan the property upgrades.”

Ron Jacobson

Located in the premier Carlsbad Research Center, the property is adjacent to McClellan-Palomar Airport, and features 26’ warehouse clear heights, 10’ x 10’ truck well loading doors, 12’ x 12’ ground level doors, 180 parking spaces, and a secured gated loading area.

Comprised of a two-story lobby with a mix of private and open area offices, the property is located at 5940 Darwin Court in Carlsbad, California.

Ron Jacobson of SD Realty Partners represented BLT Enterprises as the buyer in this transaction.  The seller, El Cedro, LLC, was represented by David Steffy of Palomar Commercial.

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

Elisabeth Manville / Lexi Astfalk

Brower, Miller & Cole

(949) 955-7940

emanville@browermillercole.com

SummerHill Apartment Communities Celebrates Completion of Villas on the Boulevard Apartment Community in Santa Clara, CA

  

Villas on the Boulevard, 2615 East El Camino Real, Santa Clara, CA

Robert Freed

SAN RAMON, CA -SummerHill Apartment Communities, a division of SummerHill Housing Group and a leader in providing quality, smart growth, multi-family rental housing and mixed-use developments, recently celebrated the completion of Villas on the Boulevard, a new 186-unit luxury residential rental community located at 2615 East El Camino Real in the City of Santa Clara, Calif.

“We are very excited to open our latest multi-family project in the heart of Silicon Valley,” said Robert Freed, CEO of SummerHill Housing Group. “We are grateful for our collaboration with the City of Santa Clara, who made this new community possible.” 

Located steps from shopping and restaurants, Villas on the Boulevard includes a mix of one- and two-bedroom luxury apartment homes ranging in size from 758 to 1,378 square feet. The well-appointed apartment homes are energy- and water-efficient and include expansive windows, a gourmet kitchen with stainless steel ENERGY STAR® appliances and European-style cabinetry, wood-style flooring, quartz countertops, spacious kitchen pantry, in-unit full-size washer and dryer, large walk-in closets, private storage units and balconies or patios.

Villas on the Boulevard also includes alternative transportation amenities such as electric vehicle charging stations, a resident carpool web portal and secure bicycle storage and repair facilities. Other amenities include a resident lounge with an entertaining kitchen, cyber café, conference room, state-of-the-art fitness center, resort-style swimming pool with a spa, poolside cabanas, outdoor kitchen with lounge seating and fireplace, green space for recreation, and a pet spa with washing station and grooming table.

Manny Gonzalez

According to Freed, the amenity courtyards provide a series of outdoor “rooms” for residents to gather and socialize. The main courtyard adjacent to the club and fitness rooms includes the pool, spa and BBQ area. 

A breezeway connects residents to a second courtyard with an outdoor kitchen and amenities, living room with a fireplace, and a bocce ball court. 

Additional amenities include a nearly half-acre pedestrian promenade and a fitness par course along the side of the building creating a buffer to the existing single-family neighborhood. 

Designed by international award-winning KTGY Architecture + Planning, Villas on the Boulevard features a four-story residential building over a one-story partially subterranean garage. As part of the development, SummerHill widened the sidewalk and added street trees and landscaping, and tiled stoops leading to the apartment homes. The apartment community’s new public plaza highlights the adjacent Saratoga Creek and a new crosswalk constructed on El Camino Real to give residents safe access to the neighborhood shopping center across the street.  

"We designed The Villas on the Boulevard in Mission style architecture that the City of Santa Clara and El Camino are known for,” said Manny Gonzalez, FAIA, LEED AP and principal at KTGY in Los Angeles. “We took great care to address the adjacencies of the property by introducing ground-floor stoops along the El Camino frontage in order to bring more pedestrian scale to the building along El Camino and stepping the back portion of the building down in scale with the goal of minimizing privacy impacts on the existing single-family homes.”

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

Anne Monaghan

MONAGHAN COMMUNICATIONS, INC.

anne@MonaghanPR.com

830.997.0963

www.shhousinggroup.com

www.villasontheboulevard.com.

 

AVANI Hotels & Resorts Set to Launch in New Zealand

Metropolis AVANI Residences, Auckland, New Zealand

Bangkok, THAILAND -- AVANI Hotels & Resorts, currently with a portfolio of 18 hotels and resorts in 12 countries across Asia Pacific, the Middle East, Africa and Europe, has announced the acquisition of the Metro Suites business in Auckland, New Zealand.

In a deal worth over NZD 11 million, the Metro Suites business currently operates in the luxury 40-storey tower and will be transformed through a major room refurbishment programme. Upon completion in October 2017, the property will be rebranded as Metropolis AVANI Residences, signalling the AVANI brand’s debut in New Zealand.

Alejandro Bernabe

Alejandro Bernabe, Group Director AVANI Hotels & Resorts, said, “We are delighted to reach agreement with the Metropolis body corporate to secure this hotel business in the very strong Auckland hotel market, as well as launch our AVANI brand into New Zealand.

“Metro Suites presented itself as a compelling acquisition opportunity to expand our foothold within the Asia Pacific region, and we look forward to introducing the AVANI brand into this market later this year following a significant refurbishment programme.”

Located in Auckland on New Zealand’s North Island, the 370-key property was built in 1999 at a reported NZD 180 million and occupies a prime CBD position in the ‘City of Sales’ – the country’s largest and most populated city.

Auckland is renowned as New Zealand’s leading urban hub, while still retaining the splendor of the country’s remarkable natural landscape, fusing scenic harbours, breathtaking volcanic cones and lush rainforest.

The soon-to-be Metropolis AVANI Residences is within easy walking distance to the vibrant waterfront precinct and positioned in close proximity to some of Auckland’s most popular cafes, eateries and entertainment venues, including Vector Arena and Sky Tower.

Launched in 2011, AVANI offers all the details that matter, blending genuine hospitality and modern lifestyle features with a passion for design.

Each of the property’s one and two bedroom apartments will be transformed as part of the revitalisation programme. Rooms will feature spacious living and dining areas, well-equipped kitchens and laundry facilities, and will offer stunning views over the city skyline, harbour and beyond. Leisure facilities include a 22-metre heated swimming pool, indoor and outdoor spas, a sauna, gymnasium with male and female facilities, and steam room.

AVANI Hotels & Resorts is part of Minor Hotels which already has a presence in New Zealand through the Oaks Hotels & Resorts brand where it currently operates two resorts in Queenstown.

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

Hwee Peng Yeo

Vice President

Glodow Nead Communications

San Francisco • New York • Singapore • Shanghai

Level 21, Centennial Tower, 3 Temasek Avenue • Singapore 039190

Level 15, One Corporate Avenue, 222 Hubin Road, Shanghai China, 200021

1700 Montgomery Street, Suite 203 • San Francisco, CA • 94111

US:415.394.6500 • Asia: 65.9768.6087 •  E: hweepeng@glodownead.com

www.GlodowNead.com

www.avanihotels.com

www.minorhotels.com.

HFF closes recapitalization of and arranges joint venture equity for Solis Ninth Street in Durham, NC

 Ninth Street Apartments, Ninth Street, Durham, NC                           (Photo by Dustin Peck)                        

                                                                                           

Cory Fowler

               

 CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the recapitalization of and arranged joint venture equity for a 229-unit, Class A multi-housing and 10,000-square-foot retail property, formerly known as Solis Ninth Street, on Ninth Street in Durham, North Carolina.

HFF assisted the co-owner in the recapitalization of the property and also arranged a new joint venture equity partnership with Raleigh, North Carolina-based Blue Heron Asset Management, LLC.  This is the sixth acquisition for Blue Heron’s Real Estate Opportunity Fund II.

 The Durham-based Dickson family, which has been involved in Solis Ninth Street since its rezoning, remain invested in the development.  The family’s joint venture developer and co-owner, Terwilliger Pappas Multifamily Partners, has sold its stake in the property.

The property, which is in the process of being rebranded as 810|Ninth, is located at 810 9th Street within walking distance of Duke University, Duke Medical Center, Whole Foods, Harris Teeter, numerous restaurants, shops and other urban amenities, including local gyms, bars and entertainment venues. 

Justin Good

Completed in February 2016, the property has 229 units spread across 187,961 rentable square feet for an average unit size of 821 square feet. 

In addition to its central location, amenities include a saltwater swimming pool; outdoor lounge with grilling area and fire pit; fitness center with dedicated yoga and spin studio; clubhouse; business center; coffee bar; pet spa and grooming station, garage parking located in the center of the building; and 10,000 square feet of ground-floor retail.

The HFF team was led by managing directors Justin Good and Jeff Glenn and directors Cory Fowler and Allan Lynch.

Maurice Malfatti, managing partner of Blue Heron, commented, “We are bullish on Durham and believe in its growth and innovation story.  810|Ninth – our largest single investment to date – is a solid addition to our fund, which targets investments in southeastern U.S. markets, such as Durham, that exhibit strong job and population growth and diverse economic drivers.

“  We love the walkability and neighborhood feel of Ninth Street and are excited to be part of the local ownership group that will own and operate the property for years to come.”

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

Olivia Hennessey

Public Relations Specialist

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

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

www.blueheronassetmanagement.com

HFF secures $49.6 million financing for mid-rise multi-housing property in Hackensack, NJ

Meridia Metro Apartments, Hackensack, NJ

Jon Mikula

FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $49.6 million in financing for Meridia Metro, a six-story, 222-unit multi-housing property in Hackensack, New Jersey.

HFF worked exclusively on behalf of the borrower, Capodagli Property Company, to place the long-term, fixed-rate loan through MetLife Real Estate.

Meridia Metro is situated at the intersection of State and Warren Streets proximate to Routes 4 and 17 and Interstate 80.  The transit-oriented property provides access into New York City and other nearby employment hubs through its proximity to two New Jersey Transit train stations (Essex Street and Anderson Street), transit bus service and Newark Liberty International Airport. 

Completed in 2016, Meridia Metro features a mix of one- and two-bedroom units with amenities such as stainless steel appliances, granite countertops, hardwood floors and walk-in closets.

Community amenities include a 24-hour fitness center; rooftop terrace with cabana bar and fire pit; social room with poker and pool tables; pet grooming room; and grade-level parking garage. 

Michael Klein

The HFF debt placement team representing the borrower was led by senior managing director Jon Mikula and managing director Michael Klein.

“The borrower was seeking a way to take advantage of today’s historically low interest rates and avoid the contingent liabilities associated with the in-place construction loan while still in lease up,” Klein stated.  “MetLife was able to lock the rate on a 15-year term at application, providing a structure that best met the borrower’s needs.” 

 “HFF has been involved in several of these types of transactions of late,” Mikula added.  “Many of our clients are looking to secure debt for a long-term hold or generation play and life companies are best equipped to handle this type of execution.”

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

Olivia Hennessey

Public Relations Specialist

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

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

  http://www.capodagli.com/.

HFF financing totaling $54.25 million for Two Tampa Bay, FL multi-housing communities

 

Mona Carlton

MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $54.25 million in financing for the 281-unit Fountain Lake Apartments in Bradenton, Florida, and the 276-unit Sienna Bay Apartments in St. Petersburg, Florida.

HFF worked exclusively on behalf of the borrower, Beachwold Residential (“Beachwold”), to place two separate ten-year, fixed-rate loans with Goldman Sachs. 

 The loan proceeds were used to retire existing bridge financing and return sponsor equity following a renovation/expansion program that allows the sponsor to raise rents and improve the asset’s competitive profile in the market.

Fountain Lake Apartments is located in Bradenton at 5620 Fountain Lake Circle convenient to numerous institutions of higher learning, including the Ringling College of Art and Design and the State College of Florida.

Elliott Throne

 The 281-unit, garden-style property was originally constructed with 201 units in 1984 with Beachwold adding an additional 80 units in 2016 after its acquisition of an adjacent five-acre site.

 Community amenities include a swimming pool, hot tub, grilling area, pickleball court, volleyball court, state-of-the-art fitness center, clubhouse and business center.

 Sienna Bay Apartments is located approximately 36 miles north of Fountain Lake Apartments at 10501 3rd Street in St. Petersburg.  The property is near the 3.2-million-square-foot Carillon Office Park, which is home to employers such as Humana, Raymond James and SunTrust Bank. 

Most recently renovated by Beachwold between 2015 and early 2017, community features include a swimming pool, courtyard, lighted tennis court, state-of-the-art fitness center, dog park, clubhouse and business center.

The HFF debt placement team was led by senior managing director Mona Carlton, managing director Elliott Throne and associate director Matthew Sand.

“The financing provided by Goldman Sachs highlights the fact that there is an abundance of aggressive capital available for multi-housing owners,” Throne stated.  “The properties are a prime example of Beachwold’s expertise in acquiring value-add assets, where they can implement their renovation and enhancement program and then secure them with attractive long-term capital.”

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

Olivia Hennessey

Public Relations Specialist

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

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

The Habitat Company Announces $16M Acquisition and Rehabilitation Investment in Affordable Housing Development in Chicago

 

Matt Fiascone

CHICAGO, IL – Chicago-based The Habitat Company, a leading U.S. multifamily developer and property manager, announced it has closed on the $16 million acquisition and rehabilitation of a 153-unit , single-room-occupancy community in Chicago’s East Garfield Park neighborhood.

Work to renovate East Park SRO has started, and is scheduled to be completed in May 2018.

“The Habitat Company started as an affordable housing developer 46 years ago, and while we are diversified in market-rate and condo management disciplines, we’re consistently looking to grow our affordable housing portfolio with meaningful projects,” said Matt Fiascone, president of The Habitat Company.

“Preserving the affordability of East Park SRO demonstrates how important public-private partnerships are to both provide affordable housing opportunities and link residents with the supportive services they need to become self-sufficient.”

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

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

Rebecca Boykin, rboykin@taylorjohnson.com, (312) 267-4523

 www.habitat.com.

NAI Realvest Negotiates Six New Industrial Leases Totaling 15,293 Square Feet at Orlando Industrial Centers

 

Tom R. Kelley II

ORLANDO, FL – NAI Realvest recently negotiated four new industrial leases totaling 12,293 square feet at South Park Business Center, 8600 Commodity Circle, and one for 3,000 square feet at the industrial facility on S. Division Ave.   

Tom R. Kelley, II, CCIM, and Michael Heidrich, principals at NAI Realvest negotiated the transactions on behalf of the landlords.

The five new tenants at South Park Business Center are Special Care Medical of South Carolina, Inc. who leased 3,531 square feet; Lexington Pool & Maintenance, 3,015 square feet; New Sense Productions, Inc., 2,087; Full Circle Productions and American Constructors who each leased 1,830 square feet.   Kelley represented Miami-based Landlord South Park, LLC.

Heidrich negotiated the lease of 3,000 square feet at 1713-1715 S. Division Ave. representing Landlord Richard B. Rogers, Jr. and Allison S. Rogers of Belle Isle, Fla.  The new tenant is Bullbag Corporation d/b/a The Bullbag.

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

Jasmin Curtiss

PR Coordinator, BoardroomPR

jcurtiss@boardroompr.com

O 954-370-8999

Work on Aurora Sunny Isles Beach, FL to Begin with Sales Center Demolition

John Warsing

SUNNY ISLES BEACH, FL – The start of construction at Aurora Sunny Isles Beach is imminent, with demolition of the existing sales center slated for mid-June. A groundbreaking ceremony will be scheduled soon after the three-week demolition work is complete.

Developer Verzasca Group and the Aurora sales team are relocating to a brand-new sales center at 17600 Collins Avenue, adjacent to the project site. The existing sales center will be closed from May 29 to June 5 to accommodate the relocation, but Director of Sales John Warsing and the Aurora team will be available for appointments during that time.

Aurora is the first project to be developed on the west side of Collins Avenue – or A1A – in more than a decade.

“This is a big step for our project,” said Verzasca Managing Director Tim Lobanov. “We are excited to be closing in on the start of construction at Aurora. Demand has been strong, and that will only intensify as the marketplace sees activity on the site.”  

Tim Lobanov

Aurora is a new luxury condominium project with 61 residences at 17550 Collins Avenue in Sunny Isles, one of the world’s most sought-after destinations. The boutique building’s two and three-bedroom residences range from 1,385 to more than 2,150 square feet. Prices start in the $900,000s, making it the most attainable luxury project on Sunny Isles.

The project is more than 45 percent sold, with buyers coming from all over the world.

Aurora is being developed as part of an intimate collection of boutique residences, along with Le Jardin Residences and Pearl House in Bay Harbor Islands.

Earlier this month, Aurora announced the sale of 5,382 square feet of ground-floor commercial real estate at the luxury residential project to an international investor for $5.5 million – or about $1,022 per square foot.

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

Jasmin Curtiss

PR Coordinator, BoardroomPR

jcurtiss@boardroompr.com

O 954-370-8999

www.aurorasunnyislesbeach.com.

www.aurorasunnyislesbeach.com.

www.verzasca-group.com.

HFF closes $32.25 million sale of 1450 Veterans Boulevard in Redwood City, CA

1450 Veterans Boulevard Office Complex, Downtown Redwood, CA

Gerry Rohm

SAN FRANCISCO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $32.25 million sale of 1450 Veterans Boulevard, a three-story, 53,000-square-foot office building in downtown Redwood City, California.

HFF marketed the property on behalf of the seller, Griffin Capital, and procured the buyer, Rees Properties, Inc. 

1450 Veterans Boulevard is located in downtown Redwood City, just one mile from the Redwood City Caltrain station, providing direct access to downtown San Francisco.  

Downtown Redwood City offers the unique combination of proximity to Stanford University, venture capital, the U.S. Highway 101 corridor and connectivity to the executive housing corridor along Interstate 280 via Woodside Road.

  The property was built by DPR Construction for its own use in 2000 and is fully occupied by the firm through 2022.  The 1.81-acre site also offers tenants 171 parking stalls.

The HFF investment sales team representing the seller was led by Michael Leggett, co-head of HFF’s West Coast team; senior managing director Gerry Rohm; director Ben Bullock and associate director David Dokko. 

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

Kristen M. Murphy

Director, Public Relations

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 named to market for sale 301-unit multi-housing property in suburban Wilmington, DE

Mark Thomson

PHILADELPHIA, PA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has been named to market for sale Brandywine Hundred Apartments, a 301-unit multi-housing property in the historic Brandywine Hundred neighborhood of northern Wilmington, Delaware.

HFF is marketing the property on behalf of the seller, a joint venture between CenterSquare Investment Management and Korman Residential.

Brandywine Hundred Apartments is situated on 10.66 acres at 400 and 402 Foulk Road, less than one mile from major employers, including JPMorgan Chase & Co., AstraZeneca and Nemours/Alfred I. duPont Hospital for Children. 

Additionally, the property is less than half of a mile from shopping and dining along Route 202, and a short distance from numerous state parks, golf courses and recreational activities. 

Brandywine Hundred features units averaging 946 square feet with community amenities such as a swimming pool with sundeck, tennis courts, state-of-the-art fitness center with flat screen TVs, resident lounge with Wi-Fi, business center and covered parking. 

Carl Fiebig

Ownership recently initiated a unit renovation program with renovations to 49 of the 301 units completed to date.  The upgrades have generated an average monthly premium of $155 per unit.

The HFF investment sales team representing the seller is led by senior managing directors Mark Thomson and Jose Cruz and associate director Carl Fiebig.

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

Kristen M. Murphy

Director, Public Relations

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 Carolinas establishes retail investment sales team with hiring of Ted Hill and Tom Kolarczyk as associate directors

Ted Hill

           

CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has established a dedicated retail investment sales team in its Carolinas office comprising Ted Hill, who joins HFF as an associate director, and associate director Tom Kolarczyk, who joined the firm this past September. 

Mr. Hill and Mr. Kolarczyk will co-lead the firm’s retail investment sales efforts in the Carolinas, bringing with them more than 18 collective years of experience and $1.3 billion of transaction volume.

Mr. Hill joins HFF from Charlotte-based investment and development firm Vision Ventures, where he was a vice president.  He has also worked as a broker at Sperry Van Ness and Morgan-Carlisle.  Mr. Hill is a certified commercial investment member and a member of the International Council of Shopping Centers and the Charlotte Regional Commercial Board of Realtors.  He attended the University of North Carolina.

Prior to joining HFF, Mr. Kolarczyk was a co-founder and principal of Verris Capital focused on the acquisition, disposition and asset management of retail properties throughout the Mid-Atlantic and Southeastern United States.

Tom Kolarczyk

  Prior to that, Mr. Kolarczyk managed an extensive retail portfolio for CW Capital in Washington, D.C.  He began his career as an analyst in the Private Fund Group at Credit Suisse Securities in Manhattan.  

Mr. Kolarczyk is a member of the International Council of Shopping Centers and holds a BSBA from the University of North Carolina at Chapel Hill.

“We are very excited about both Ted and Tom recently joining HFF and establishing our Carolina’s-based retail investment sales team,” commented Ryan Clutter, senior managing director and co-head of the Carolinas office of HFF.  

“Historically, HFF has been involved with many of the most high-profile retail sales in the region, including the sale of the Epicenter in Uptown Charlotte and the Specialty Shoppes on the Park in SouthPark.  

That being said, we feel it is very important to establish a strong Carolinas-based presence in the retail sector that will enhance our ability to serve our clients in the region.” 

“Ted and Tom bring a wealth of experience and well-rounded skill sets to our retail investment sales initiative,” added Clutter.  “We are excited to build on our market-leading retail practice in the Southeast and enhance our service offering to our clients.”

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

Kristen M. Murphy

Director, Public Relations

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