Monday, July 17, 2017

HFF closes $21.5 million sale of Vancouver, WA shopping center


Fourth Plain Center, Vancouver, WA
                                                                                                              (Photo by Red Studio Inc.)


PORTLAND, OR  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $21.5 million sale of Fourth Plain Center, a 117,143-square-foot, value-add, multi-tenant shopping center in Vancouver, Washington.

HFF marketed the property on behalf of the seller, 4th Plain Center LLC. 

Fourth Plain Center comprises four buildings that were most recently renovated in 2006.  The center is leased to a mix of professional services, health and fitness, restaurant and retail tenants, including 24-Hour Fitness, Walgreens, Rainwater Insurance, Saigon Restaurant, Children’s Village Day Care, Zenaptic Chiropractic and Sunrise Salon. 

Situated in northeast Vancouver on 7.96 acres at 2903 NE Andresen Road, 2913 NE 72nd Drive and 2904 NE Burton Road, Fourth Plain Center is visible to approximately 42,241 vehicles per day and is near Interstate 5, which runs into Portland. 

Nick Kassab

The property is proximate to some of Vancouver’s most affluent neighborhoods, and more than 112,805 residents earning an average annual household income of $62,740 live within three miles of the center.

The HFF investment sales team was led by director Nick Kassab.

“We are pleased to announce the sale of Fourth Plain Center in Vancouver, Washington,” Kassab said.  “The center has a solid list of tenants, including 24 Hour Fitness and Walgreens, and provides value-add upside and optionality via leasing up the vacant former Office Depot box, either to another junior anchor or potentially a specialty grocer. 

“The high amount of interest in the center is another example of the strong demand for good value-add retail properties across the West Coast and here locally in Portland, as well as Vancouver emerging as a suitable location for institutional investment.”

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


Two Twelve Clayton Brings 250 New Luxury Apartments to St. Louis Suburb



Two Twelve Clayton, 212 South Meramec Avenue,
Clayton, MO
ST. LOUIS, MO (July 17, 2017) — Unparalleled luxury living is now available in Clayton, Mo., a close-in suburb of St. Louis just 10 miles west of the city’s downtown, with the grand opening of Two Twelve Clayton, a new 26-story Class A high-rise comprised of 250 apartments.

 Featuring an impressive 9,300 square feet of amenities, Two Twelve sets a new standard for rental residences with its club-style living for busy professionals in Clayton’s central business district, which serves as a center of business and financial activity for metro St. Louis. First move-ins began earlier this month.

Located at 212 S. Meramec Ave., Two Twelve is a joint venture between two Chicago firms, CA Ventures and White Oak Realty Partners, with national property manager The Habitat Company, also from Chicago, managing the property and overseeing leasing.

“It’s very exciting to see a building of this caliber open in this area of St. Louis – something that’s been specifically designed and styled to meet the demands of sophisticated Clayton residents,” said JJ Smith, principal of CA Ventures.

“From the building’s striking silhouette on the Clayton skyline to its impressive suite of amenities, including the most dynamic apartment rooftop/outdoor living space in the area, Two Twelve raises the bar for rental living in Clayton.



Sheila Byrne



It also puts residents steps away from the Clayton MetroLink Station, adjacent to Shaw Park and less than 2 miles from the St. Louis Galleria shopping center, making all the advantages of city living easy to access,” Smith added.

“The surrounding community has been very interested in Two Twelve, so we’re thrilled to welcome our first residents,” said Sheila Byrne, executive vice president of property management for The Habitat Company.

“As they’ll soon find out, the experience Two Twelve Clayton delivers to the market is unparalleled. There’s no other community in the area that combines this level of sophisticated urban design, LEED certification and refined luxury amenities.” 
  
Two Twelve includes studio, one-, two- and three-bedroom units offering 592 to 1,366 square feet with rents ranging from $1,706 to $4,415. 

For more information about leasing an apartment at Two Twelve, call (314) 721-1212 or visit www.212Clayton.com.

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

Robin Plous, rplous@taylorjohnson.com, (312) 267-4512
Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527


HFF closes sale of The Plaza at North Creek in suburban Seattle, WA

                                                  
The Plaza at North Creek Office Campus, Bothell, WA
                                                                                                             (Photo by Red Studio Inc.)

     
Nick Kucha
                              
 

PORTLAND, OR, July 17, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of The Plaza at North Creek, a flagship office campus totaling 194,074 square feet in the suburban Seattle community of Bothell, Washington.

HFF marketed the property on behalf of the seller and procured the buyer, MRM Capital. 

The Plaza at North Creek comprises two three-story, Class A office buildings located at 18911 and 19015 North Creek Parkway in Bothell, a community about 13 miles northeast of downtown Seattle. 

This location, adjacent to Interstate 405, is part of the Eastside’s life science industry hub, which is home to more than 50 life science employers.  Key tenants at the 80.7 percent leased property include Allstate and SNC-Lavalin. 

The HFF investment sales team representing the seller was led by senior managing director Nick Kucha and director Dave Otis.

“The Plaza at North Creek’s superb Class A office space has allowed the park to consistently outperform the Bothell submarket, maintaining a 10-year historical average occupancy of 92 percent, 600 basis points higher than the Bothell submarket historical average of 86 percent,” said Kucha.  “The Plaza at North Creek is THE destination for users seeking a Bothell address.” 


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 hires Anthony Fertitta, Jr. as a managing director in its Carolinas office


 
Travis Anderson
       
CHARLOTTE, NC, July 17, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has hired Anthony Fertitta, Jr. as a managing director in its Charlotte office. 

Mr. Fertitta joins HFF with more than 23 years of real estate project and corporate finance/capital markets experience, primarily with Bank of America Merrill Lynch. 

Most recently, Mr. Fertitta coordinated the commercial lending and capital markets activities for a broad spectrum of REIT/REOC, real estate opportunity fund/investment manager, homebuilder and real estate service company clients around the U.S. in bank’s Real Estate Corporate Banking Group.  

“We are excited to welcome Anthony to the HFF team,” said Travis Anderson, HFF senior managing director and co-head of HFF Carolinas.  “He will be an integral player in growing our regional and national footprint due to his deep institutional relationships as well as extensive experience in both asset/portfolio level and corporate finance.”


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

Berger Commercial Realty Facilitates $700,000 Sale of Downtown Fort Lauderdale, FL Land Slated for Office Development

  
Judy Dolan

FORT LAUDERDALE, FL – Berger Commercial Realty/CORFAC International Senior Vice President Judy Dolan represented Anthony and Camille Ajakie in the $700,000 sale of 25,000 square-feet of land to 100 Avenue of the Arts, LLC.

Located at 100 N.W. 7th Ave. in Fort Lauderdale, the land is slated for development into a multi-story, multi-tenant office building with covered parking.

Site frontage on Avenue of the Arts, Fort Lauderdale, FL
“The property is a great development opportunity for office space due to its prime location in Fort Lauderdale’s central business district,” Dolan said. 

“With frontage on Avenue of the Arts and close proximity to the new Brightline rail station, the site offers great visibility and accessibility for future tenants.”

Formerly part of a used car dealership parcel, the property consists of four contiguous lots located just north of Broward Boulevard along N.W. 7th Ave. and offers convenient access to I-95 via Broward Blvd. or Sunrise Blvd.

For more information about Berger Commercial Realty’s brokerage services, call 954-358-0900.

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

954-776-1999
Pierson Grant Public Relations
Lexi Robinson, ext. 255, lrobinson@piersongrant.com
Marielle Sologuren, ext. 226, msologuren@piersongrant.com


Continental Partners Secures Permanent Financing for Award-Winning Multifamily Asset in Los Angeles, CA


Zalmi Klyne
LOS ANGELES, CA (July 17, 2017) – Commercial real estate investment banking firm Continental Partners has successfully secured $9.7 million in permanent financing for Ten38 Lofts, a 32-unit, American Institute of Architects award-winning multifamily property in the Koreatown submarket of Los Angeles, California. 

The financing was arranged by Continental Partners Director Zalmi Klyne.

The sponsor, a private multifamily investor, had requested a permanent loan to refinance an existing construction loan for the property. Constructed in 2016, the multifamily community offers spectacular 360° views from its rooftop garden, granting visibility to the downtown skyline as well as the Westside, according to Klyne.

“Ten38 boasts a unique, contemporary design unmatched in the Koreatown submarket,” explains Klyne, who points to the building’s organic curves, floor-to-ceiling windows and balcony views.

“Despite the compelling design and immediate value of this property, concerns regarding potential oversupply and projected vacancies in this submarket presented an initial challenge. We were able to quickly overcome this challenge by demonstrating the opportunity and investment potential of this exceptional asset.”

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

Elisabeth Manville / Katie Kea
Brower, Miller & Cole
(949) 955-7940

Sunday, July 16, 2017

Lifescapes International Brings Touch of Las Vegas to South Korea; Completes Landscape Design for $1.1 Billion Integrated Resort



Julie Brinkerhoff-Jacobs

INCHEON, South Korea -- Lifescapes International, the landscape architectural firm behind iconic destinations such as the Mirage, Bellagio Resort & Casino, and Wynn Las Vegas, has designed the landscape environment for Paradise City, a $1.1 billion, fully integrated entertainment and gaming resort complex totaling 83 acres in Incheon, South Korea.

“As Northeast Asia’s first ‘art-tainment’ integrated resort, Paradise City offers an unparalleled guest experience,” asserts Julie Brinkerhoff-Jacobs, President of Lifescapes International. “This mega-resort combines a diverse range of hospitality, gaming, art, and retail amenities, allowing guests to experience luxury, beauty, and entertainment like no other in Northeast Asia.”

Paradise City encompasses 12 facilities, including a five-star luxury hotel totaling 711 rooms, a family wing and pool villas, a premium casino equipped with state-of-the-art systems, and a K-style-themed convention center decked with a full-service entertainment bar, among others. Additional amenities include an art gallery that features works from world-renowned and rising artists, retail shops, restaurants, and a luxury spa.

Alvaro Amador
Project Designer, Alvaro Amador shares, “The trend in resort development is an increased focus on creating a one-of-a-kind guest experience through programmable spaces, water entertainment shows, and landscaped environments to attract guests and encourage repeat visits. 

At Paradise City, we took this concept to the next level by incorporating innovative landscaping to achieve the artistic energy and excitement of a fully immersive resort experience.”

Lifescapes International infused vibrant landscaping throughout the main resort-style pool, complete with an outdoor bar and private cabanas for an exciting night-life setting, according to Amador. The firm also designed a large Las Vegas-style main entry, wedding gardens, private villas, and gardens that flow throughout the interior and exterior of the project.

“Based on our experience in designing 12 iconic resort casinos along the Las Vegas strip, we were selected to design the overall landscaped environment and deliver on the developers’ concept for this project, which was to create the ultimate destination that would attract tourists year-round,” explains Brinkerhoff-Jacobs.

 “Our vision was to bring the vibrant energy of Las Vegas to Korea by integrating water features and immersive gardens, thereby heightening the dramatic element of the setting and cultivating an exceptional entertainment-driven experience.”

Paradise City Resort, Incheon, South Korea

Italian villa elements and Mediterranean motifs, in addition to “hallyu” or Korean-pop culture, inspired the landscape design for this resort, which includes interior gardens and outdoor accent plantings with a spectrum of color and texture.

“Paradise City’s unique value proposition is its artful convergence of different cultures, including those of the East and West,” adds Brinkerhoff-Jacobs, who notes that Lifescapes harmonized these elements in the overall design of this project.

To achieve this balance, Lifescapes incorporated a variety of indigenous trees and plants native to South Korea, including Hornbeam Bonsai, Weeping Willow, Cherry Blossoms, Konara Oak Trees, Sawleaf Zelkova, and Loropetalum, among others.

Paradise City Resort, Incheon, South Korea

“We understood that the project needed to highlight South Korea’s rich cultural identity, while also attracting international business,” continues Brinkerhoff-Jacobs. “By integrating a diverse range of native plants, we were able to preserve the integrity of the cultural experience, while also bringing the excitement of Las Vegas in a way that would drive tourism and put South Korea on the map for future travel.”

Paradise City is situated in the International Business Center of Incheon International Airport, the gateway to Northeast Asia’s economic and cultural epicenter. Located 90 minutes from Beijing, Shanghai, and Tokyo and 40 minutes from Seoul, this mega-resort offers easy accessibility for both locals and international tourists.

The large resort complex was developed as a joint venture between Korean casino operator Paradise Group and Japanese entertainment group Sega Sammy Holdings, Inc., which boast a combined 45 years of experience in operating casinos and hotels.

Lifescapes International is an internationally recognized landscape architectural firm that has become an influential force in the industry through its design of innovative, creative, and trendsetting landscape environments.  For nearly 60 years, the company has remained true to its mantra:  “We Create Gardens People Love.” SM

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

Miki (Conant) Akil or Katie Kea
Brower, Miller & Cole
(949) 955-7940



HFF closes the sale of 2-property hotel portfolio near Los Angeles International Airport


Aloft El Segundo Hotel  -- Los Angeles Airport

Tony Malk
LOS ANGELES, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced t has closed the sale of a two-property, 596-room hotel portfolio comprising an Aloft and Fairfield Inn & Suites proximate to Los Angeles International Airport (LAX) in the Los Angeles-area community of El Segundo, California, for an undisclosed price.

HFF marketed the property on behalf of the seller, Rubicon Companies. 

The portfolio comprises the Aloft El Segundo – Los Angeles Airport and the Fairfield Inn & Suites Los Angeles LAX/El Segundo.  The Aloft hotel is located at 475 North Sepulveda Boulevard, and the Fairfield Inn property is located less than a block away at 525 North Sepulveda Boulevard.

Both hotels are less than one mile from LAX and proximate to both Interstate 105 and 405, which allows for easy access to a variety of Los Angeles area demand drivers, including shopping, restaurants, beaches and more.

The 246-room Aloft features the Re:fuel grab-and-go food option, Re-charge 24-hour fitness center, Splash pool, meeting space, Re:mix lounge, W XYZ® bar with cocktails and full food menu and room access via app.

Scott Hall
 The Marriott-branded Fairfield Inn contains 350 rooms and features a complimentary breakfast buffet, outdoor pool, fitness center and meeting space.

The HFF investment sales team representing the seller was led by managing directors Tony Malk and Scott Hall.


 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 closes sale of Denver-area apartment community


Greenwood Plaza Apartments, 7610 Caley Avenue, Centennial, CO
                                                                                                                   (Photo by Ryan Dravitz)

Jordan Robbins

DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Greenwood Plaza, a 266-unit apartment community in Centennial, Colorado.

HFF marketed the asset exclusively on behalf of the seller, and procured the buyer, Waterton.

Greenwood Plaza has 14 garden-style buildings offering a mix of one-, two- and three-bedroom units averaging 947 square feet.  Apartment homes feature generous balconies, full-size washers and dryers and a mix of attached and detached garages.

 The 11.7-acre community is located at 7610 E. Caley Avenue in Denver’s booming Tech Center submarket positioning it near many major employers, including seven Fortune 500 headquarters. 

Additionally, Greenwood Plaza is convenient to the Arapahoe at Village Center Light Rail station and Interstates 25 and 225 providing access around the Denver metropolitan area. 

Common area amenities include a resort-style swimming pool, fitness center and lounge. The property was more than 96 percent occupied at closing.

The HFF investment sales team representing the seller was led by managing director Jordan Robbins and associate director Jeff Haag.

 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 expands London team with managing director Edward Daubeney


Edward Daubeney
LONDON, ENGLAND –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has hired Edward Daubeney as a managing director focused on debt and equity placement for transactions in the UK and Western Europe.  

Mr. Daubeney has more than 21 years of experience in the property and banking market. He joins HFF from Cushman and Wakefield where he was the head of debt advisory in their debt and structured finance group.

 He also held this position at DTZ London, before the firm merged with Cushman.  During this time, he completed more than $600 million in high profile transactions in the UK and Europe.  Mr. Daubeney is MRICS qualified (Member of Royal Institution of Chartered Surveyors). 

“We are so pleased to have Edward as part of the HFF team,” said Michael Kavanau, senior managing director and co-head of HFF’s London office.  “He has extensive experience in arranging acquisition and development financing, including senior debt and mezzanine loans and will undoubtedly be an asset to our clients both present and future.”

 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 closes sale of Publix-anchored retail center in suburban Atlanta, GA


Golden Park Village Retail Center, Buford, GA
                                                                           (Photo by Pat Kelly of Sky Shots Photography)

  
Daniel Finkle
ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Golden Park Village, a 68,738-square-foot, Publix-anchored neighborhood retail center in the northern Atlanta suburb of Buford, Georgia.

Phillips Edison Grocery Center REIT II, Inc. purchased the asset free and clear of existing debt.

Located at 4840 Golden Parkway in Buford, Golden Park Village is situated at the “main and main” intersection of Interstate 985 and Lanier Islands Parkway approximately three miles east of Lake Lanier, which attracts roughly 7.5 million visitors each year. 

More than 24,000 residents earning an average annual income of more than $86,000 live within a three-mile radius of the center and nearly 81,000 vehicles pass the property each day. Golden Park Village is 92 percent leased to a variety of tenants, including Publix, The UPS Store and Great Clips. 

The HFF investment sales team representing the seller was led by senior managing directors Danny Finkle, Jim Hamilton and Richard Reid and managing director Luis Castillo.

“Golden Park Village represented a rare opportunity to acquire a high-performing, Publix-anchored shopping center with limited grocer competition and value-add potential,” Hamilton 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



HFF arranges $16.199 million acquisition financing for garden-style multi-housing community in Loveland, CO



The Buttes Apartments, Loveland, CO


 DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $16.199 million in acquisition financing for The Buttes, a 111-unit, garden-style multi-housing community in Loveland, Colorado.

HFF worked exclusively on behalf of Blueline Equity Partners to place the 10-year, fixed-rate loan with Freddie Mac’s CME Program.  The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.


Kristian LIchtenfels
The Buttes is located at 1391 N. Wilson Avenue just off U.S. Highway 34 and approximately six miles west of Interstate 25 in Loveland.  

The property provides access to nearby Denver, Fort Collins, Boulder and recreational activities in Rocky Mountain National Park, which is less than 30 miles west of the community.

 The Buttes comprises eight, three-story buildings with one- and two-bedroom units ranging from 808 to 1,101 square feet.  

The 98-percent-leased community features amenities, including a swimming pool with sundeck, grilling area, fire pit, 24-hour fitness center, clubhouse, resident lounge, entertaining kitchen and detached garages.

The HFF debt placement team representing the borrower was led by associate director Kristian Lichtenfels.

 Blueline Equity Partners (Blueline) is a Denver-based, full service private real estate investment firm specializing in acquisition, redevelopment, management and disposition of multifamily properties.  Founded in 2007, Blueline owns properties in Denver, Longmont, Loveland, Greeley, Evans, Colorado Springs, Fraser and Crested Butte.

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

Saturday, July 15, 2017

Park Springs Health Services Opens Georgia’s First, fully executed Household Model in Continuing Care Retirement Living






From left:  Angie Hollanda (Gwinnett Chamber of Commerce), Sandra Durbin (Director of Health Services Park Springs Health Services), Billy Smith, Andy Isakson (Managing Partner of Isakson Living), Brian Thomas (VP of Construction Isakson Living), Evelyn Lee (Senior VP of SunTrust’s Aging Services practice) and Jenna Kelly (President & CEO, Atlanta Division at SunTrust Bank).


Andy Isakson
STONE MOUNTAIN, GA – Isakson Living announces the opening of Park Springs Health Services (PSHS), located adjacent to its resort-style continuing care retirement community (CCRC), Park Springs.

 Featuring Georgia’s first-ever, built-to-suit household model, the state-of-the-art facility, opens with 75 percent of the homes sold. And starting in August, the full-service healthcare facility will launch the nation’s first “Dementia Care Matters (DCM) Butterfly Household Model of Care”.

“For nearly 15 years we’ve been working diligently to improve the model of care for the aging population,” said Andy Isakson, managing partner of Isakson Living. “We’re breaking the mold in Georgia with our household model and changing the narrative nationally with our relationship with DCM.”

DCM, a United Kingdom-based Culture Change organization, is disrupting the way facilities care for people living with dementia by focusing on an emotion-based approach.

 The Butterfly Household Model of Care emphasizes the importance of a nurturing and supportive staff, enables a better quality of life and inspires leadership, achieving real outcomes and continued growth. This innovative program starts with an intensive training of the PSHS staff to understand emotion-based care so they can empathize with members living with dementia.
  
"Feelings really matter most in dementia care. People experiencing dementia become more feeling than thinking beings. Therefore, requiring heightened emotional care first - all we have is now,” said David Sheard, CEO and founder of DCM and director of The Butterfly Community. “After pioneering this in four other countries it is exciting to be arriving into the U.S., launching our first Butterfly Home and developing this special relationship with Isakson Living. "


David Sheard
The Butterfly Household Model of Care is a year-long initiative that focuses on a person-centered approach and three main objectives: encouraging care-givers to grow their emotional intelligence, connecting and interpreting a person’s feelings and ensuring the daily life of a member is a positive experience.

 Action based learning teams will develop and implement, like a butterfly, the necessary skills to follow the model. These objectives align perfectly with Isakson Living’s mission and focus on person-centered care.

PSHS is comprised of four additional households focusing on adult day services, short-term Medicare certified rehabilitation and long term Medicare certified skilled nursing, in addition to the two Butterfly Household Models of Care.

 Each household accommodates 18 members, and includes a household kitchen and dining room, staffed with a homemaker that allows members to eat what they want, when they want it.

In addition, each household has a living room and access to beautiful courtyards, allowing members to come and go outside as they please. Staff works around member’s schedules and what works well for them. There is also a 3,100 square-foot physical therapy center, serving members as well as the local community.

The construction of the new Park Springs Health Services and other Park Springs campus improvements were made possible through a $74.4 million loan from SunTrust Bank.
“Isakson Living and their dedicated caregivers show real passion for serving those in their community, and we look forward to helping them achieve continued growth.” said Evelyn Lee, senior vice president of SunTrust’s Aging Services practice. 

“With the new Park Springs Health Services, we believe the organization will be well positioned to further support the needs of their current residents and the growing senior population in Georgia for years to come.”



For a complete copy of the company’s news release, please contact:
Emma Cathey/Liz Lapidus
Liz Lapidus PR
404-688-1466


RAF Pacifica Group Breaks Ground on Three Creative Industrial Developments totaling $110 Million in North Couty, San Diego, CA





  • vec•tor
This 171,098 square-foot, two-story industrial/R&D facility will accommodate one to four industrial or research tenants. Estimated development costs total $29 million.

Located in the Carlsbad Oaks North corporate business park, vec•tor will feature 30’ clear height ceilings, grade-level and dock-high loading doors, and a glass-centric design to ensure natural lighting for users.



SAN DIEGO, CA – RAF Pacifica Group, a San Diego-based owner, operator, and developer of commercial real estate, has broken ground on three ground-up creative industrial developments totaling $110 million in North County San Diego.

These developments encompass over half a million square feet of high-quality creative industrial space and will be delivered to the market in 2018, making RAF Pacifica Group one of the most active developers in San Diego, according to Founder & Principal Adam Robinson (right).

“Now more than ever, the ‘if you build it, they will come’ mantra rings true for high-caliber industrial product in North County San Diego,” asserts Robinson. 

“Despite a slight uptick in new development, no new construction matches the aesthetic and functionality of our creative industrial facilities, which integrate creative office amenities into state-of-the-art industrial 
buildings for an unmatched user experience.”

 
Robinson notes that residents and businesses from all over Southern California are relocating to San Diego’s North County based on the submarket’s explosive job growth, high-quality housing, and superior quality of life.

“North County is booming and continuing its emergence as a hub of tremendous growth and innovation,” continues Robinson. “From tech startups to life sciences to manufacturing, North County’s diverse economy is attracting an influx of talent and investment capital to this region, especially along the I-78 corridor.

“We’re capitalizing on this momentum by developing state-of-the-art creative industrial buildings to support the growth of this dynamic business community.”

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

Katie Kea / Jenn Quader
Brower, Miller & Cole
(949) 955-7940


Hanley Investment Group Completes Sale of Single-Tenant LA Fitness in Los Angeles


Bill Asher
MONTEBELLO, CA - Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, has completed the sale of a single-tenant net-lease retail investment occupied by LA Fitness in Montebello, California. The price could not be disclosed.

Hanley Investment Group's Executive Vice President Bill Asher and company President Ed Hanley represented the seller, a private partnership based in Orange County, California. The buyer, which represented themselves, was a publicly-traded REIT.

Built in 1988, the 42,946-square-foot building is situated on 3.07 acres at the signalized intersection of Beverly Boulevard and Wilcox Avenue at 2222 W. Beverly Boulevard in Montebello. The location has a 28-year operating history as a health club with LA Fitness taking over a former Bally's and recently executing a new long-term lease extension.

Ed Hanley
According to Asher, Hanley Investment Group procured multiple offers and selected a highly-qualified buyer that transacted all-cash and closed in 45 days.

“LA Fitness is one of the fastest growing health club chains in the U.S. and presently has more than 690 locations in 32 states and Canada,” Hanley noted.

“This is a rare sale of a single-tenant LA Fitness in Los Angeles County,” said Asher. “Only three single-tenant LA Fitness investments sold in Southern California since 2015, with Hanley Investment Group selling two of the three properties. LA Fitness is the #1 health club in the nation and the most attractive and stable health club investment in today’s market.”  

Hanley noted, “The growth of health club memberships nationwide has spurred the development of fitness centers from coast to coast, which has created outstanding real estate investment opportunities.”

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

Anne Monaghan
MONAGHAN COMMUNICATIONS, INC.
830.997.0963