Saturday, June 10, 2017

Bull Realty Brokers $5 Million Retail Center in Peachtree City, GA

. 
Will Young
ATLANTA, GA – Will Young, an Associate Broker with the National Retail Group at Bull Realty, brokered the sale of “Wisdom Pointe” retail center totaling 22,475 SF in Peachtree City, GA. The sale closed on May 26th for $5,050,000 ($224.7/ SF) at a 7.2% cap rate.

Built in 2003, Wisdom Pointe was 100% occupied at the time of sale. The center has a varied mix of tenants – nine in total – including Mellow Mushroom, Noche, Sushi Tomi, Grinds and Wines and Tavern on 74.

The property was exclusively listed by Will Young, who represented the seller, Northgate-Wisdom Pointe, LLC. The buyer, JW Wisdom Pointe, LLC, was represented by Brian Lane with Shane.

“Investors are willing to pay a premium for quality retail centers located both in and around the affluent Peachtree City Submarket, which has very strong demographics and recently has experienced substantial growth,” said Young.

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

Melissa Henry
Communications Manager
Bull Realty, Inc. 
404-876-1640 x 110
BullRealty.com
CREshow.com

ATLCREshow.com

HFF closes $19.3 million sale of industrial facility in the Otay Mesa submarket of San Diego, CA

                                            
2055 Dublin Drive Industrial Property, South San Diego, CA
                                                                                       (Photo by Bill Robinson Photography)


Nick Frasco
SAN DIEGO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $19.3 million sale of a 205,800-square-foot, fully-leased industrial facility in south San Diego within close proximity to the Otay Mesa Port of Entry at the U.S./Mexico international border.

HFF marketed the property on behalf of the seller.  STAG Industrial, Inc. purchased the asset free and clear of existing debt.

Situated on 11.65 acres, 2055 Dublin Drive is an industrial / manufacturing building that is fully leased to three tenants: Honeywell International, Inc.; Cubic Corporation; and SigmaTron International, Inc. 

The building features 24-foot clear heights, 29 loading doors and an above-standard 2.0:1,000 parking ratio. The facility is 1.5 miles from the privately operated Otay Mesa Cross Border Xpress bridge and 4.7 miles from the Otay International Border crossing into Tijuana, Mexico.  Additionally, the property is just off the Otay Mesa Freeway and has access to Interstates 5, 8, 15 and 805. 
    
The HFF investment sales team representing the seller was led by director Nick Frasco and senior managing director Nick Psyllos.


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


NAIOP South Florida to Host “Corporate Cache” Panel of Boca Raton Executives June 22 in Boca Raton, FL


Leslie Daley

FORT LAUDERDALE, FL  – NAIOP South Florida, a Commercial Real Estate Development Organization, will host panel discussion “Corporate Cache: Boca Raton’s Business Stature Surges” on Thursday, June 22 from 5 p.m. to 7:30 p.m. at Lynn Financial Center, located at 1905 N.W. Corporate Boulevard in Boca Raton.  The panel will start promptly at 5:30 p.m. 

In partnership with the City of Boca Raton’s Office of Economic Development, NAIOP South Florida has assembled a C-suite panel of executives to discuss what attracted their companies to Boca Raton, what has made the city a corporate “it” spot and what the future holds for the region.


Jules Morgan

Panelists include Cosmetic Solutions COO Warren Becker, Orangetheory Fitness CLO Leslie Daley, Canon Solutions America Senior Director of Marketing Eric Hawkinson and Privaira President and CEO Clemens Van der Werf.

“Boca Raton’s corporate landscape now hosts a diverse mix of financial service companies, high-brow corporate headquarters, cutting-edge startups, advanced technology firms and medical organizations,” said NAIOP South Florida Executive Director Jules R. Morgan. “As one job-generating firm follows another, the city is experiencing a surge of metropolitan-style living options as well as office and retail offerings, rapidly creating a new urban setting to serve its 21st century workforce.” 

Warren Becker
Tickets are $50 for non-NAIOP members and $35 for NAIOP members. To register for the event, visit www.naiopsfl.org/events or call 954-990-5116.

NAIOP is a commercial real estate development organization. It provides strong advocacy, education and business networking opportunities and connects its members through a powerful North American network.

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

954-776-1999
Pierson Grant Public Relations
Lexi Robinson, ext. 255


The Astor Companies and ONE Sotheby’s International Realty Unveil Merrick Manor Exclusive Sales and Marketing Team


Merrick Manor, Coral Gables, FL

CORAL GABLES, FL – Pioneering Miami developer The Astor Companies and renowned South Florida Luxury Real Estate firm ONE Sotheby’s International Realty have announced the exclusive sales and marketing team members at Merrick Manor, a luxury residential project rising in the heart of Coral Gables.

The ONE Sotheby’s team overseeing sales at Merrick Manor is led by Regional Vice President of Sales Ivan Ramirez and Sales Director Neybis Sanchez.

Lis Benitez

Ramirez has more than 20 years of experience and sales totaling $2 billion. Sanchez has more than 15 years of South Florida real estate experience working with a wide range of clientele, including top developers, investors, luxury home builders and traditional homebuyers and sellers.

Other ONE Sotheby’s members of the Merrick Manor sales and marketing team include Lis Benitez, Arianna Coltellacci, Enrique del Campo and Fernando Ibanez. ONE Sotheby’s has 11 South Florida offices, including one at 1430 South Dixie Highway in Coral Gables.


Ivan Ramirez
“ONE Sotheby’s has truly assembled a dream team to lead our sales efforts at Merrick Manor,” said Henry Torres, President, CEO and Founder of The Astor Companies. 

“The team is well-equipped to accommodate the strong demand we are seeing from the local market and all over the world. Coral Gables continues to stand out as a premier luxury residential, commercial and cultural destination, with our project located right in the middle of the action.”

Benitez brings significant development sales experience to Merrick Manor. Her project portfolio includes Beach House in Miami Beach, Brickell on the River, Canvas Miami, Hyde Midtown, Mint on the River and SLS Lux Brickell.

A Miami native, Coltellaci has more than 15 years of sales, marketing and branding experience. She specializes in selling condominium and single-family properties priced at $500,000 and up.

With more than 12 years in real estate sales handling property sales, purchases and leases for clients, del Campo also comes to Merrick Manor with extensive experience. His project portfolio includes Canvas Miami, Downtown Doral, Sailboat Cove Townhomes and Terra Beachside Condos.

 
Neybis Sanchez

Ibanez is a Global Estate Agent who has sold thousands of luxury condominium units over the last 25 years. He spent the last two years as an Exclusive Sales Executive at the $1 billion Brickell City Centre development.

Vertical construction is well underway at the 301 Altara Avenue site of the 10-story, 227-residence project. The Mediterranean villa-style building is on track for a scheduled completion during the first quarter of 2019. More than 50 percent of the project is under contract, with prices for remaining units starting from $499,999 and ranging up to $2.5 million.

Units at Merrick Manor range from 574 square feet to more than 3,400 square feet and are equipped with impact-resistant windows and doors. The project also includes 19,000 square feet of prime ground-floor retail space that is experiencing strong demand from prospective retail and restaurant tenants.

Henry Torres
Prominent architecture firm Behar Font & Partners, P.A. designed Merrick Manor’s exterior, with Witkin Hults Design Group providing landscape design. Renowned South Florida-based interior design firm Interiors by Steven G. has continued a longstanding relationship with Astor by designing unit interiors at Merrick Manor. Jaxi Builders of Doral is the project’s general contractor.

Merrick Manor is located just steps away from the luxurious retail destination Shops at Merrick Park. Project amenities include 24-hour valet parking, 24-hour front desk concierge service, a business center with computer-ready desks and multimedia screens for presentations and conference calls, a club lounge on the fourth floor, state-of-the-art fitness center and resort-style pool with barbecue areas and a community area with lounge seating.

Prospective buyers who want to experience the Merrick Manor lifestyle can visit the brand-new Sales Gallery located at 4200 Laguna Street. The 5,000-square-foot Sales Gallery showcases a full model one-bedroom unit with a gourmet kitchen, bathroom, living room and master bedroom designed by Interiors by Steven G.

Fernando Ibanez
For more information, visit www.merrick-manor.com or contact the team at the Merrick Manor Sales Gallery at (305) 779-6870.

 For more information, visit the project Sales Gallery at 4200 Laguna Street, call (305) 779-6870 or email info@merrick-manor.com.




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

BoardroomPR
Todd Templin: ttemplin@boardroompr.com, 954-290-0810
Eric Kalis: ekalis@boardroompr.com, 305-794-5123





Friday, June 9, 2017

Stepp Commercial Completes $2.4 Million Sale of Forty-Ninth Street Apartments in Long Beach, CA


Robert Stepp
Long Beach, CA - Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $2.4 million sale of Forty-Ninth Street Apartments, a 12-unit apartment property located adjacent to the affluent Bixby Knolls neighborhood in Long Beach, Calif.

Principal Robert Stepp and Vice President Michael Toveg of Stepp Commercial represented the seller, PS Realty Holdings, LLC. The buyer, a private investor from Los Angeles.. The property closed at a 5.4 percent cap rate and a price per unit of $200,000.

Built in 1963, the two-story property is located at 30 W. 49th Street. The unit mix includes one, one-bedroom unit, and 11 two-bedroom units. The property offers ample parking, controlled access entry and a laundry facility.

"Forty-Ninth Street Apartments provides the buyer with an ideal opportunity of adding value to the asset by upgrading the units and bringing rents up to market rates. It is one of the nicest properties in the neighborhood." said Stepp.

Toveg added: "What many Los Angeles-area apartment investors may not know is that Long Beach is a non-rent-controlled market which provides the opportunity to realize a solid return by upgrading older product as compared to other areas in the region that are limited by rent control restrictions."

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

Darcie Giacchetto
D.G. Communications, Inc.

949.278.6224

Avison Young brokers $2.28-million sale of historic retail building in South Pasadena, CA


Andrew Berk
Los Angeles, CA - Avison Young, the world's fastest-growing commercial real estate services firm, announced today that it has brokered the sale of a 6,000-square-foot (sf) historic retail building in South Pasadena, CA.

 Located at 1509 Mission Street, the property is fully leased to South Pasadena Music Center & Conservatory. The building was originally built in 1917 for use as a hardware store and was most recently renovated in 2008. The purchase price was just under $2.28-million.

Avison Young's Andrew Berk, a Vice-President based in the company's North Los Angeles office, represented local seller Pasadena-based Little Acorn Properties, as well as the buyer, a South Pasadena-based private investor.

"This was an ideal situation for both buyer and seller," comments Berk. "The local buyer recognized the value of the irreplaceable and historical asset that was entirely retrofitted and impeccably renovated by Little Acorn Properties. The seller was able to free up capital to focus on other redevelopment projects in the area."

1509 Mission Street, South Pasadena, CA


Berk adds: "As the City of South Pasadena develops both a new General Plan and Mission Street Specific Plan, this property is situated in an exceptional and highly sought after location. Additionally, the building is a critical and historic piece of South Pasadena's creative spirit."

The 1509 Mission Street building features a 20-foot ceiling, hardwood floors, exposed wood trusses, brick walls, steel beams and a built out basement. The tenant uses the space to instruct  its 240 music students and includes 11 teaching studios, a drum studio and performance and rehearsal hall space.

South Pasadena's new General and Specific Plans are being created to help guide an even more dynamic, walkable and amenity rich neighborhood that has become a new Gold Line station destination community.


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

Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224

The Preiss Company Continues Strong 2017 First Half with Acquisition of Two Student Housing Communities, Builds on Record 2016 with 5 Deals YTD


Donna Preiss
RALEIGH, NC —Officials of The Preiss Company (TPCO), ranked the nation’s fifth largest, privately-held, student housing owner-operator, announced that it continues to build on its record 2016 growth with the acquisition of Cabana Beach Gainesville and Cabana Beach San Marcos, two student housing communities totaling a combined 2,232 beds for an undisclosed amount.

 The two communities, serving the University of Florida and Texas State respectively, will be renovated and repositioned in their respective markets.

            “These acquisitions with a new joint venture partner play to another one of our core strengths: adding value through strategic upgrades and repositioning,” said Donna Preiss, founder and CEO, The Preiss Company.

“TPCO has a proven record in both in-depth renovation and development.  We’ve overseen more than $30 million in construction/upgrades over the past three years.  Only a handful of student housing owner/operators have the extensive experience and expertise in this sector of our business.”


Located just off the Texas State University campus, the 744-bed Cabana Beach San Marcos sits on 19 acres and provides the latest in student resources.

TPCO plans to upgrade 114 units, totaling 306 beds, and to renovate the community’s clubhouse.

Situated roughly a mile from the campus of the University of Florida, the 1,488-bed Cabana Beach Gainesville is housed on 55 acres.

            TPCO is planning to renovate common areas, as well as units, and expects to makeover the building exteriors with power washing and/or new paint, new fencing, upgraded gutters and new window screens.

With these two purchases, TPCO will own and/or manage approximately 4,500 beds in Florida and more than 5,300 beds in Texas.”

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

PATRICK DALY
OFFICE MANAGER
DALY GRAY PUBLIC RELATIONS, INC.
620 Herndon Parkway, Suite 115 | Herndon, VA 20170
Main: 703-435-6293
Mobile: 703-300-8289
patrick@dalygray.com
www.dalygray.com

www.tpco.com.

Preferred Apartment Communities, Inc. Announces Acquisition of a Grocery-Anchored Shopping Center in Metro Atlanta, GA Through its Wholly-Owned Subsidiary, New Market Properties, LLC


 
Joel T. Murphy
ATLANTA, GA /PRNewswire/ -- Preferred Apartment Communities, Inc. (NYSE: APTS) ("PAC" or the "Company") announced the acquisition of Rockbridge Village, an approximately 102,432 square foot shopping center located in the Atlanta, GA MSA and anchored by a 68,632 square foot Kroger grocery store. 

Rockbridge Village is strategically located off of Stone Mountain Parkway at the intersection of Rockbridge Road and Five Forks Trickum Road in Gwinnett County.

PAC acquired this asset through its wholly-owned subsidiary New Market Properties, LLC. Joel T. Murphy, President and Chief Executive Officer of New Market said about the acquisition, 

"We are thrilled to partner again with a strong market leader such as Kroger, who has demonstrated their long term commitment to this high volume location by recently completing a major interior renovation."

Mr. Murphy added, "The acquisition of Rockbridge Village increases the size of our retail portfolio to 33 grocery-anchored shopping centers across seven Sunbelt states, consistent with our strategy to acquire well-positioned grocery-anchored shopping centers in suburban Sunbelt markets with strong demographics."


Kroger Supermarket, Rockbridge Village
Shopping Center, Gwinnett County, GA
The Company financed the acquisition utilizing a non-recourse first mortgage loan from The Prudential Insurance Company of America.  

The first mortgage loan is approximately $14.25 million, bears interest at fixed rate of 3.75% per annum and matures on June 6, 2027.  There are no loan guaranties provided by PAC or its operating partnership.

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



Nick Banaszak • The Wilbert Group
1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309
M: 256-457-5384

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Uncover Tales of Zambia’s Tribes and Treasures with Edward Anantara Hotel’s Storyteller

  
Edward Minyoyi

VICTORIA FALLS, ZAMBIA -- Zambia is a country of vibrant African traditions, a land made famous by legendary explorer Sir David Livingstone, the home of iconic Victoria Falls, the mighty Zambezi River and vast national parks thriving with wildlife.

Bringing to life these cultural and natural treasures, Edward Minyoyi is much more than the Guest Relations Officer at the Royal Livingstone Victoria Falls Zambia Hotel By Anantara. Regaling his insider local knowledge and personal tales, Edward plunges guests into the colours, customs and majesty of Zambia through the age-old art of storytelling.

 In a country where tribal stories and traditional practices are passed down from one generation to another, storytelling is an intrinsic part of Zambian daily life, and Edward is a proud narrator.


Victoria Falls
He joined the hotel team in 2001 as a barman. Renowned for his friendly interaction with guests and entertaining local tales, in 2007 he was appointed Guest Relations Officer, and also the hotel’s Storyteller.

A well-loved team member amongst guests, Edward speaks French, Spanish, Russian, Greek, German, Japanese and Afrikaans, and he loves nothing better than meeting world travellers and drawing them into the rich details of his homeland.

Instantly recognisable by his bright traditional attire, theatrical personality and beaming smile, Edward is a member of the Lozi tribe and can be found smartly dressed in his tribe’s ceremonial Siziba costume of a white shirt, skirt, long stockings and red beret.

 Exemplifying the warm hearted, friendly spirit of the Zambian people, Edward describes, “We live a peaceful, harmonious life, all working together within our communities, and I love to explain how our way of life continues to thrive.

For instance when it comes to a wedding, the families of the bride and groom all sit down together and discuss issues relating to their children and respective families, to ensure a prosperous marriage and to live as one big happy family.”

Royal Livingstone Victoria Falls
Zambia Hotel By Anantara.
“I love my job because I’m a jovial person and really enjoy interacting with people from all walks of life”, enthuses Edward. “Zambia has such a rich history, a diverse tribal heritage and many natural wonders that locals have their own stories about. It’s my pleasure to take guests on a storytelling journey at a hotel where they can see, taste and feel it all for themselves.”

At the only hotel that directly overlooks Victoria Falls, the Royal Livingstone Hotel by Anantara offers an incomparable setting to learn about this Natural World Wonder. Known to locals as “Mosi-oa-Tunya” – “The Smoke that Thunders”, this iconic waterfall is awash with myth and legend.

“The Toka-leya people who once resided here worshipped the River Goddess Nyami-nyami living under the falls in times of drought, to pray for heavy rains,” explains Edward. “And my guests’ eyes light up as they hear about the travelling Scotsman, David Livingstone, who arrived in Africa in 1840 as a missionary and physician to become the most famous explorer of the century.

“He was the first European to witness the waterfall and renamed it after his British Queen, Victoria. His escapades feel even more exciting in the resort’s Royal Livingstone Lounge, sipping drinks and swapping stories surrounded by his paintings, books and maps.”

The adventures continue up and close and personal with zebras, impalas, giraffes and monkeys meandering freely about the resort grounds. Inspiring guests with safari and hunting tales, Edward raves about Zambia’s wildlife. “We have 19 national parks and I have many memories about the animals I’ve encountered, from rhinos, elephants, hippos, wilder beast and warthogs, to the incredible number of birds.

Zebras in Zambia
“For those who prefer more peaceful viewing, guests can relax on platforms on the bank of the Zambezi to drink in the sights and sounds of river life, with me as their narrator. 

"As a keen fisherman, I can pass on my knowledge to anglers, like how it’s easier to catch fish during hot season because they come to the surface, the best spots to test their skills against the tiger fish, and how we cook the prize catches for our families.”

For food enthusiasts, Edward dishes up a plethora of fascinating facts about Zambian cuisine. “Guests can tour the resort’s garden for an introduction to the aromas, flavours and medicinal benefits of different herbs, which are also used to treat sickness, such as a herbal steam to cool and relax the body. The stories they hear then come to life as they try traditional Zambian dishes, or head off to the spa to discover local wellness secrets.”

 Anantara is a luxury hospitality brand for modern travellers, connecting them to genuine places, people and stories through personal experiences, and providing heartfelt hospitality in the world’s most exciting destinations. The collection of distinct, thoughtfully designed luxury hotels and resorts provides a window through which to journey into invigorating new territory, curating personal travel experiences.
  

From cosmopolitan cities to desert sands to lush islands, Anantara connects travellers to the indigenous, grounds them in authentic luxury, and hosts them with passionate expertise.

The portfolio currently boasts over 35 stunning properties located in Thailand, the Maldives, Indonesia, Vietnam, China, Cambodia, Sri Lanka, Mozambique, Zambia, the UAE, Qatar and Oman, with a pipeline of future properties across Asia, the Indian Ocean, Middle East and Africa.

For more information on Anantara Hotels, Resorts & Spas, please visit www.anantara.com.

Follow us on Facebook: www.facebook.com/anantara;
 Twitter and Instagram: @anantara_hotels

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


Wednesday, June 7, 2017

HFF Closes Sale of Southgate Shopping Center in Portland, OR


Southgate Shopping Center, Southgate Area, Portland, OR

Brian Hanson
PORTLAND, OR –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Southgate Shopping Center, a 50,826-square-foot, value-add, multi-tenant retail strip center in the Southgate area of Portland, Oregon.

HFF marketed the property on behalf of the seller, ML Commercial Properties, Inc.  A private buyer purchased the shopping center. 

Southgate Shopping Center is 97 percent leased to 10 tenants, including Office Max, HobbyTown, Round Table Pizza, Starbucks, H&R Block, Arby’s and Spring Mobile. 

Situated on 3.4 acres at 10317-10465 SE 82nd Avenue, the center is positioned at the signalized intersection of SE King Road and SE 82nd Avenue in Southgate, a portion of the southward extension of Portland that sits directly along the historic wagon trails.

 The center is proximate to Highway 213 and accessible from Interstate 205.  More than 130,278 residents earning an average annual household income of $71,118 live within three miles of Southgate Shopping Center.


Nick Kassab

The HFF investment sales team was led by directors Brian Hanson and Nick Kassab.

“Competition was stiff, showing the market’s significant appetite for well-positioned, value-add retail opportunities,” Hanson said.  “The buyer plans to leverage its retail relationships and experience to upgrade the center and capitalize on the recent positive demographic shift in a historically strong retail location.”

Founded in 2006, ML Commercial Properties, Inc., owns and asset manages 28 investment properties throughout the country.  These investment properties include apartment buildings, shopping centers and one hotel.


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



Hold-Thyssen Negotiates Six Leases totaling over 6,964 square feet at Phillips Place on Dr. Phillips Blvd. in Southwest Orlando, FL



Darby Hold

WINTER PARK, FL--- Hold-Thyssen, a full service real estate services firm headquartered in Winter Park, negotiated six lease agreements during April and May totaling 6,964 rentable square feet at Phillips Place, 7575 Dr. Phillips Blvd. in Southwest Orlando. 

Darby Hold, transaction specialist for Hold-Thyssen, Inc. negotiated all six transactions representing the landlord, Financial Way Realty, Inc. based in Cincinnati, Ohio.  The leases include – 

Phillips Place Office Building, Southwest Orlando, FL

  • About Face Ink, LLC 348 square feet;
  •  Law Office of Thomas Tukdarian 760 square feet;
  •  Everest Equity Group, 1,077 square feet;
  •  Grandesign Advertising Firm, Inc. 1,260 square feet;
  •  Patten Law Firm, LLC, 1,659 square feet; and
  •  Heather Childers, DDS 1,860 square feet;
  •  

 Hold-Thyssen, Inc. is the leasing and management representative for the 56,000 square foot Phillips Place Office Building, which is now 90 percent leased.

Hold-Thyssen, Inc. provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States.

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

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

HFF arranges $99.891 million financing for mixed-use development in Los Angeles’ Arts District

  
Rendering of Planned Arts District AMP Lofts, Los Angeles, CA Arts District

  
LOS ANGELES, CA –- Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $99.891 million in financing for the development of Arts District AMP Lofts, a luxury mixed-use residential and retail property in Los Angeles’ Arts District.

Working on behalf of the developer, Greystar, HFF placed the 48-month construction loan with CIT’s Real Estate Finance business.

Arts District AMP Lofts will have 320 Class A multi-housing units situated above 20,000 square feet of ground-floor retail.  The property will occupy more than half of a large industrial block on E. 7th Street between Imperial Street and S. Santa Fe Avenue in the thriving Arts District, less than a mile from downtown Los Angeles.

 
Bob Faith
  Arts District AMP Lofts will be situated directly across from a 255,000-square-foot creative office development, which will be fully leased to Warner Music Group. 

The project is due for completion in 2019.

Greystar is a leading, fully integrated real estate company offering expertise in investment management, development and property management of rental housing properties globally.  

Headquartered in Charleston, South Carolina, with offices throughout the United States, Europe, and Latin America, Greystar is the largest operator of apartments in the United States, managing over 400,000 units in over 160 markets globally.  

Greystar also has a robust institutional investment management platform dedicated to managing capital on behalf of a global network of institutional investors with over $14 billion in gross assets under management including $6.9 billion of developments underway.  

Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental housing real estate business.  

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


HFF arranges $170 million refinancing for 33-property retail portfolio in northern California


Peter Smyslowski
SAN FRANCISCO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $170 million refinancing for a retail portfolio of 33 high-performing, triple net leased, grocery retail properties totaling 1.73 million square feet in northern California.

HFF worked on behalf of the borrower, RMP Properties, LLC, to place the 10-year, fixed-rate loan with a consortium of CMBS lenders led by UBS.  The securitized loan is being used to refinance an existing CMBS loan on the portfolio.

The portfolio is 100 percent absolute net leased under a master lease with The Save Mart Companies, one of the largest private regional grocers in California. 

The properties are either free-standing grocery stores or are the grocery anchor in multi-tenant retail centers and feature properties that are operated under well-known grocery brands Save Mart, Lucky, Lucky California and FoodMaxx.  The portfolio properties are well-located in three primary northern California markets:  San Francisco Bay Area, Sacramento and the Central Valley.


Chris Gandy
 The HFF debt placement team was led by managing director Peter Smyslowski, director Chris Gandy and associate Rob Bova.

“The quality of the RMP assets from both an operational and geographical perspective was instrumental in the successful loan placement in a somewhat bearish retail financing environment,” Smyslowski said.

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

Tuesday, June 6, 2017

HFF closes $101 million sale of seven-building office portfolio in Tampa, FL and also arranges $67.82 million financing


Tampa Oaks One at 12802 Tampa Oaks Boulevard, Tampa, FL


Hermen Rodriguez
MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $101 million sale of and arranged $67.82 million in acquisition financing for a seven-building, Class A suburban office portfolio totaling 698,100 square feet located in the Tampa area.

HFF marketed the portfolio on behalf of the sellers, Osprey East, LLC and Osprey s.a., Ltd.  The Dilweg Companies (“Dilweg”), based in Durham, North Carolina, purchased the properties.  Additionally, HFF worked on behalf of Dilweg to place floating-rate financing with Benefit Street Partners Realty Trust.

The portfolio is 74 percent leased to a variety of quality tenants, with no single tenant occupying more than 11 percent of the rentable space. 

The properties in the portfolio are Tampa Oaks One at 12802 Tampa Oaks Boulevard; Lakeview at Hidden River at 8875 Hidden River Parkway; 9000 Town Center Parkway in the Lakewood Ranch submarket; WestLake Corporate Center I and II at 9119 and 9009 Corporate Lake Drive; Orion Center at 3001 North Rocky Pointe Drive East; and Palm Court at Hidden River at 8600 Hidden River Parkway.

The HFF investment sales team representing the seller was led by senior managing directors Hermen Rodriguez and Ryan Clutter, director Ike Ojala and associate directors Chris Lingerfelt and Tracey Goo.

Ike Ojala
HFF’s debt placement team was led by senior managing director Travis Anderson and director Brent Bowman.

“With this purchase, Dilweg is acquiring a high-quality office portfolio in the dynamic greater Tampa market,” Rodriguez said.

“Given the strong rent growth and solid fundamentals in the broader southeast, the region continues to be very favorable to investors,” added Clutter.

 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



29th Street Capital Acquires Rand Park Apartments in Mount Prospect, IL; Community is FirmÕs 5th Chicago-Area Property


Dan Howard
Des Plaines, IL (June 6, 2017) Ð 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired its fifth Chicagoland multifamily property and fourth in the northwest suburbs. 

The 42-unit community is located in Mount Prospect and consists of 18 one- and 24 two-bedroom units.

29SC plans to strategically invest $500,000 in capital improvements. Interior upgrades will focus on kitchens and bathrooms. Exterior improvements include structural repairs to the roof, installing energy-efficient lighting and refinishing the common areas.

ÒWe are excited about this opportunity and believe this property is a perfect fit for our value-add capabilities,Ó said Dan Howard, Vice President of Acquisitions for Chicagoland. ÒWe believe in the fundamentals of this submarket and have experienced a great deal of success with our northwest suburban portfolio.Ó

Rand Park Apartments is located near several employment and retail opportunities, including the adjacent Costco-anchored Randhurst Shopping Center. The property further benefits from access to the METRA commuter rail, OÕHare International Airport, and two major highways Ð Interstate 90 and The Tri-State Tollway (I-294).

Rand Park Apartments, Prospect, IL
ÒThe propertyÕs location is a huge positive,Ó Howard added. ÒThe community has convenient access to an array of transportation options and employment opportunities, while also providing its residents an affordable living option within a highly-ranked strong school district.Ó 

The acquisition closed May 31. The sale price was not disclosed.

Formed in 2009, 29SC is a privately-held real estate investment and advisory firm that employs a value-added investment strategy in acquiring properties that fall below the radar of institutional peers. 29SC’s multifamily portfolio consists of more than 7,600 units and it has acquired over 9,600 units across its 12 offices in the U.S. Investments typically require approximately $10 to $50 million of total capital and involve the acquisition or recapitalization of real estate assets, portfolios or platforms.

Learn more about 29SC at https://29thstreetcapital.com.

For investment inquiries, contact:              
Stan Beraznik, Founder and Managing Principal at 29th Street Capital

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

Terri Thornton
Partner, Thornton Communications
Phone: 404-932-4347

http://www.facebook.com/pages/Thornton-Communications/112101288827299 http://twitter.com/Ttho http://www.linkedin.com/in/TerriThornton