HFF closes sale of and secures $10.65 million financing for Kroger-anchored retail center near Columbia, South Carolina

 

Irmo Station Retail Center, Irmo, SC

Ted Hill

CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and secured $10.65 million in acquisition financing for Irmo Station, a 99,384-square-foot, Kroger-anchored, dominant neighborhood retail center in the Columbia-area community of Irmo, South Carolina.

HFF marketed the property for the seller, Retail Properties of America, Inc. (RPAI).  New Market Properties, LLC, a wholly-owned indirect subsidiary of Preferred Apartment Communities, Inc. (NYSE: APTS), purchased the asset free and clear of existing debt. 

Additionally, working on behalf of the new owner, HFF placed the 13-year, fixed-rate, 3.94-percent, non-recourse loan with Nationwide Life Insurance Company.

Located at 7467 St. Andrews Road in Irmo, Irmo Station is situated northwest of Columbia in an infill location on the “going home” side of the road in the main retail node of the Columbia MSA, which is the largest city in South Carolina. 

The center is located one mile off Interstate 26, the main highway connecting Greenville to Charleston through Columbia.  More than 42,000 residents earning an average annual household income of $82,000 live within three miles of the center.

Mike Allison

In addition to Kroger, the 92-percent-leased Irmo Station is home to Pet Supplies Plus, Super Cuts, Firehouse Subs, Kroger Fuel, Pizza Hut, Kobe Express, Palm Beach Tan and more.

The HFF investment sales team representing the seller was led by director Thomas Kolarczyk, senior managing director Richard Reid, senior associate Ted Hill and associate Mike Allison.

The HFF debt placement team representing the borrowers was led by senior managing director Ed Coco and associate Matt Casey.

“Irmo Station represented a rare opportunity to acquire a high-performing, Kroger-anchored shopping center with limited grocer competition and value-add potential,” Kolarczyk said. “Well-located grocery-anchored real estate with strong fundamentals continues to garner significant investor interest and a yield premium.”

 For more information on this 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 | hfflp.com

ohennessey@hfflp.com

www.pacapts.com.

www.rpai.com.

www.newmarketprop.com.

HFF arranges $171 million financing for 13-property multi-state retail portfolio

 

Kevin Mackenzie

 NEWPORT BEACH, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced that, on behalf of Westwood Financial, it has arranged $171 million in first lien financing for a portfolio comprising 13 multi-tenant retail centers totaling 1,050,350 million square feet in Arizona, California, Florida, Georgia, Illinois, North Carolina and Texas markets.

HFF worked on behalf of the borrower, Westwood Financial, to place two separate portfolio loans, a $94 million fixed rate-rate portfolio loan with Nationwide Life Insurance Company used for re-financing and new acquisitions and a $77 million fixed-rate portfolio loan with a correspondent life insurance company to re-finance existing debt.

 In September 2016, Westwood Financial completed a $1.2 billion consolidation and reorganization, and these portfolio loans help further the strategic initiatives of the roll up to achieve the best debt executions and generate capital for growth.

The $94 million loan portfolio comprises seven multi-tenant retail shopping centers, including five- grocery-anchored centers and two shadow grocery-anchored centers. 

Jamie Kline

The properties are:  the 77,043 square-foot Camelback Village anchored by AJ’s Fine Foods in Phoenix, Arizona; the 116,707-square-foot Elk Crossing anchored by Jewel-Osco in Elk Grove (Chicago), Illinois; the 97,229-square-foot Atascocita Center anchored by Kroger in Humble (Houston), Texas;

Also, the 101,791-square-foot Market at Lake Houston anchored by H-E-B in Atascocita (Houston), Texas; the 87,632-square-foot Lynwood Collection anchored by Kroger in Raleigh, North Carolina; the 55,323-square-foot, Trader Joe’s-anchored Arbors at Mallard Creek in Charlotte, North Carolina; and the 47,518-square-foot Village at Preston Hollow shadow anchored by Central Market in Dallas, Texas.

The $77 million loan portfolio comprises six assets, including four grocery-anchored centers: the 89,506-square-foot Mercado del Rancho anchored by Sprouts Farmers Market in Scottsdale, Arizona; the 85,516-square-foot Shops at San Marco anchored by Sprouts in Del Ray Beach, Florida; the 92,120-square-foot Evans Crossing anchored by Kroger in Evans (Augusta), Georgia; and the 101,610-square-foot Haynes Bridge Village anchored by Publix in Alpharetta (Atlanta), Georgia.  

Jeremy Womack

Additionally, two California centers have Ralph’s grocery shadow anchors, the 68,055-square-foot Mercado del Lago in Rancho Santa Margarita (Orange County) and the 30,300-square-foot Magnolia Vineland in North Hollywood.

The HFF debt placement team representing the borrower consisted of senior managing director Kevin MacKenzie and director Jamie Kline on a national basis along with senior managing director Jeremy Womack (Phoenix); managing director Gregg Shapiro (Atlanta); senior directors Jason Bond (Chicago), Jim Curtin (Dallas) and Nat Scarmazzi (Miami); and directors Cory Fowler (Charlotte) and Matthew Putterman (Houston).

“Closing two more highly flexible portfolio loans with major life insurance companies is another significant milestone for Westwood Financial,” said Kevin MacKenzie, senior managing director and co-head of the West Coast Region.  

“They continue to build an excellent relationship with these lenders, amongst others, progressing in their goal of strategic growth, building out their portfolio with high-quality assets and getting the most optimal capital structure in place.”

For more information on this 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 | hfflp.com

ohennessey@hfflp.com

Bull Realty Arranges $5.3 Million Land Sale in Atlanta, GA

Andy Lundsberg

ATLANTA, GA (Sept. 5, 2017) —Bull Realty arranged the sale of a 1-acre tract of land in Atlanta, GA. The sale closed on August 18 for $5,300,000.

Bull Realty’s Andy Lundsberg and Gene Kansas of Gene Kansas Developments, LLC worked together to represent the seller, Steve Nygren of PP, LLC. Nygren is the master developer of Serenbe.

The property, 489-495 Peachtree Street & 496 Courtland Street, located in between Midtown and Downtown across from Emory University Hospital, is a buy and hold for a future redevelopment.

The buyer was SoNo on Peachtree, LLC. The name “SoNo,” short for South of North Avenue, refers to the area where the property is located, and is part of an initiative by Central Atlanta Progress.

The impetus for the sale was the closing of the Peachtree Pine homeless shelter located next door at the corner of Peachtree and Pine, said Lundsberg. With the closing of the shelter, Curbed said Atlanta developers are salivating over parcels in the nearby vicinity.

The site is considered a prime redevelopment opportunity with 6 parcels and 3 buildings totaling 49,000 SF, which are currently 60% occupied. Ocean Catering Company has occupied space since 2011, according to CoStar. Other tenants include The City Café and Bar, Peachtree Barber Shop. In addition, parking on the Courtland Street side is used for the nearby Shakespeare Tavern Playhouse.

For more information contact Bull Realty at 404-876-1640 or Info@BullRealty.com

  

Melissa Henry

Communications Manager

Bull Realty, Inc. 

404-876-1640 x 110

www.BullRealty.com

www.CREshow.com

www.ATLCREshow.com

HFF closes sale of anchored shopping center in Atlanta MSA

North Lake Square shopping Center, 1146 Dawsonville Highway,  Gainesville, GA

ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of North Lake Square, a 140,000-square-foot new retail center in Gainesville, Georgia, a northern Atlanta suburb.

HFF marketed the property for the seller, GH Anderson & Co.  VEREIT, Inc., acquired the asset on behalf of Cole Real Estate Income Strategy (Daily NAV), Inc.

Jim Hamilton

Located at 1146 Dawsonville Highway in Gainesville, North Lake Square is a recently constructed power center adjacent to Lake Lanier, one of Atlanta’s top recreational centers attracting more than 7.5 million tourists a year. 

The property benefits from strong fundamentals, including high traffic counts exceeding 54,000 vehicles per day; a regional retail destination serving an extended trade area up to 30 miles; weighted average lease term of more than 10 years and the drawing power of multiple anchor tenants such as Burlington, Hobby Lobby, Five Below and HomeGoods.

The HFF investment sales team representing the seller was led by senior managing directors Jim Hamilton and Richard Reid and associate Brad Buchanan.

“North Lake Square represented the opportunity to acquire a recently built retail center with a dominant tenant line-up on the periphery of Lake Lanier, one of the Southeast’s most notable tourist attractions with over 7.5 million annual visitors,” Hamilton said.

For more information on this 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

HFF closes sale of high-rise multi-housing property in Wilmington, DE

Mark Thomson

PHILADELPHIA, PA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of 1303 Delaware Apartment Homes (“1303 Delaware”), a 231-unit, high-rise multi-housing property in the Trolley Square neighborhood of Wilmington, Delaware.

HFF marketed the asset on behalf of the seller, Merion Realty Partners.  Capano Residential purchased the offering free and clear of debt.  Additionally, HFF worked on behalf of the new owner to secure a fixed-rate Fannie Mae acquisition loan.

1303 Delaware consists of studio, one-, two- and three-bedroom apartment homes averaging 928 square feet offering panoramic views of historic Trolley Square, which is one of Wilmington’s most sought-after neighborhoods. 

The property benefits from walkability to a variety of amenities in the surrounding area as well as accessibility to major roadways throughout the highly trafficked Delaware Avenue corridor, including Interstate 95 (0.25 miles) and Route 202 (1.5 miles). 

1303 Delaware is also less than two miles from the Wilmington Amtrak station, offering rail transportation throughout Philadelphia and the Northeast.  Community amenities include a fitness center, business center and garage parking.

Carl Fiebig

The HFF investment sales team representing the seller was led by senior managing director Mark Thomson and directors Carl Fiebig and Francis Coyne.

HFF’s debt placement team was led by managing director James Conley.

“This was a great opportunity for investors to acquire a property in one of the best locations in the state with a proven value-add component,” Thomson said.  “The sellers recently renovated 84 of the 231 units and invested more than $2 million in building systems improvements. 

“The capital spent on building improvements provides the new buyer a great opportunity to focus on updating the remaining 141 unrenovated units, which still have original kitchens and bathrooms.”

 “All of these factors combined to create significant interest in the property,” Fiebig added.  “Many of the groups attracted to this offering were looking to acquire in Delaware for the first time and were drawn to the strength of the submarket, property and proven value-add story.”

 For more information on this 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

Real Estate Capital Institute Finds Inflation at Lowest Point in Past Two Years

John Oharenko

Chicago, IL – The Real Estate Capital Institute notes Hurricane Harvey, along with North Korea's missile adventures, prevent the Fed from instituting any rate hikes soon. As expected, borrowers gain significant advantages by capturing low-priced debt due to such market conditions.

The Real Estate Capital Institute's Director, John Oharenko, advises, "Even as short-term rates remain very attractive, the pricing gap compared to

long-term rates is very tight." He adds, "It clearly makes sense to explore long-term debt, but with favorable prepayment privileges -- the best of both

worlds."

 Other notable observations by RECI include:

Low Inflation: Despite threats of rising rates, key economic indicators show that inflation is at its lowest point of the past two years. Last month the

benchmark 10-year treasury bounced about 20 basis points, landing to the lowest levels seen under the current administration.

Short-Term Pricing Indices: LIBOR reform takes the spotlight as far as

benchmark pricing indices. British regulators announced the planned removal

of the LIBOR Index by 2021. Banks, agencies, insurance companies and other

financial institutions have relied upon this index for decades. That said,

few lenders are concerned since numerous indices emerge as probable

replacements, including the Broad Treasury Repo Financing Rate (BTFR) and

the Bank Prime Rate. The more laborious issue focuses on financial

institutions to modify documentation that corresponds to the new indices.

New Construction: Many funding sources are flush with cash for making construction loans. However, looming concerns about certain sectors of the

commercial real estate market facing overbuilding [mainly multifamily], demand that banks and other construction lenders tighten underwriting

standards -- or even retrench from such opportunities. Yet the overall state of supply-and-demand is reasonably balanced.  

Retail and office sectors are limited to build-to-suit/preleased properties, while industrial development remains healthy, including spec deals. Now more than ever, new construction

opportunities are funded on a very selective basis, generally based upon lower loan-to-cost ratios of 65% or less.

The Real Estate Capital Institute(r) is a volunteer-based research organization that tracks realty rates data for debt and equity yields.  The Institute posts daily and historical benchmark rates including treasuries, bank prime and LIBOR.  

For more information on this news release, please contact:

The   Real Estate Capital Institute(r)

3517 West Arthington Street

Chicago, Illinois USA 60624

 Jeanne Peck, Executive Director

director@reci.com

www.reci.com

HFF closes $17.915 million sale of and arranges $15.720 million in financing for transit-oriented office building in suburban Chicago

            

6400 Shafer Court, Rosemont, IL                  Photo by Jay Rubinic

                                            

         

Jaime Fink

CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $17.915 million sale of and arranged $15.72 million in financing for 6400 Shafer Court, a 179,442-square-foot, transit-oriented office building in the suburban Chicago community of Rosemont, Illinois.

HFF marketed the property on behalf of the seller, a subsidiary of Crossroads Partners, and procured the buyer, Free Market Ventures.  Additionally, HFF worked on behalf of the new owner to secure the acquisition loan with through Prime Finance. 

6400 Shafer Court is situated along Interstate 294 and not far from Interstate 90 in the O’Hare submarket of Chicago.  The eight-story property is adjacent to the Hyatt Rosemont hotel and is within walking distance of many retail and dining options. 

In addition, shuttle service is provided from the property to O’Hare International Airport and the CTA Blue Line stop. Most recently renovated in 2015, the office tower features 22,081-square-foot average floorplates and parking for 495 vehicles in a surface lot and 22 vehicles in an executive parking garage.  6400 Shafer Court is 92.2 percent leased.  Crossroads Partners was retained to manage the building.

The HFF investment sales team representing the seller was led by senior directors Bryan Rosenberg and Patrick Shields and senior managing directors Jaime Fink and Jeff Bramson.

HFF’s debt placement team representing the borrower was led by managing director Christopher Carroll and senior director Trent Niederberger.

For more information on this 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

www.freemarketventures.com.

www.xr-partners.com

HFF closes $28.5 million sale of downtown Portland, OR creative office building

Sixth at Yamill Office Building, Portland, OR

                                                                                           Photo by Dave Davidson

Nicholas Kucha

PORTLAND, OR –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $28.5 million sale of Sixth at Yamill, a 109,725-square-foot, creative office building in Portland, Oregon.

HFF marketed the property on behalf of the seller, Swift Real Estate Partners.  KBSRA Sixth at Yam, LLC, a joint venture between True North and KBS, purchased the asset in an off-market transaction. 

Sixth at Yamhill is situated at 811 Southwest Sixth Avenue at the high-foot-traffic, high-visibility corner of Southwest Yamhill Street and Southwest Sixth Avenue in downtown Portland.

The 11-story building was renovated in 2016 and offers completely re-imagined creative office space with 9,600-square-foot floor plates overlooking Portland’s living room – Pioneer Courthouse Square. 

Sixth at Yamhill’s core location provides access to light rail, buses, parking garages and is surrounded by luxury boutique hotels and restaurants. 

During its ownership, Swift completed a major lobby remodel, repositioned floors three through 11 to creative shell, established a common indoor-outdoor tenant patio on the fourth floor, added basement bike parking and secured the high-end boutique Water Ave Coffee Shop as a retail amenity.

The HFF investment sales team representing the seller was led by senior managing director Nick Kucha, director James Childress and associate Logan Greer.

For more information on this 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

www.kbs.com.

http://www.swiftrp.com.

HFF secures $15 million refinancing for repositioning of 888 Tennessee in the Dogpatch neighborhood of San Francisco

Chris Gandy

SAN FRANCISCO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $15 million refinancing for 888 Tennessee Street, a 40,000-square-foot industrial building fully leased to Amazon in San Francisco, California.

Working on behalf of the borrower, The S.Hekemian Group, HFF placed the 10-year, fixed-rate loan with Principal Commercial Capital, Principal Real Estate Investors’ CMBS platform.  

Principal Real Estate Investors is also the primary servicer of the loan, proceeds of which will be used to refinance the existing mortgage on the property.

888 Tennessee Street is a warehouse fully-leased to Amazon.  Located one block west of Third Street, the building is in San Francisco’s Dogpatch neighborhood, an area with multiple restaurants, breweries and other retail destinations in addition to proximity to Interstate 280.

The HFF debt placement team was led by director Chris Gandy.

“888 Tennessee is extremely well located in the heart of the San Francisco’s Dogpatch neighborhood with convenient access and walkability to restaurants, shops and transit,” Gandy said.

 “This facility acts as the first Amazon Prime Now location in San Francisco, illustrating the extreme demand for last-mile facilities from the e-commerce industry. 

“We feel that we are in the infancy of a shift to last-mile distribution facilities in dense, in-fill urban environments.  The property’s location will only improve over time with the development of Pier 70, the Golden State Warriors Stadium, Uber’s HQ campus and the continued expansion of UCSF.”

 For more information on this 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

http://shg.us.com

HFF closes $16.5 million sale of and secures $12.635 million in financing for Mallside Plaza in South Portland, ME

Mallside Plaza, 198 Maine Mall Road, South Portland, ME

 

James Koury

 BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $16.5 million sale of and secured $12.635 million in financing for Mallside Plaza, a 98,948-square-foot shopping center in South Portland, Maine.

HFF marketed the property on behalf of the seller, Kimco Realty Corp., and procured the buyer, Northeast Capital Group of Rampo, New York.  Additionally, HFF worked on behalf of the new owner to secure a 10-year, fixed-rate acquisition loan through Katahdin Trust Company.

Located at 198 Maine Mall Road, Mallside Plaza has direct visibility from Interstate 95 and is adjacent to the super regional Maine Mall, which extends the property’s trade area out to 30 miles and more than 460,000 people.

 The fully leased property is anchored by DSW Shoe Warehouse, Five Below, Guitar Center, Dollar Tree and Mattress Firm and is shadow-anchored by Dick’s Sporting Goods. The sale also included an outparcel single-tenant building net leased to a top-performing Five Guys Burgers. 

The HFF investment sales team representing the seller was led by senior managing director Jim Koury.

HFF’s debt placement team was led by senior director Porter Terry.

For more information on this 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

www.twitter.com/kimcorealty

.otcmarkets.com/stock/KTHN/quote.

www.necgre.com

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

Maynard Crossing Shopping Center, Maynard and High House Road, Cary, NC 

  

ATLANTA, GA -- Preferred Apartment Communities, Inc. (NYSE: APTS) ("PAC" or the "Company") announced the acquisition on August 25, 2017 of Maynard Crossing, an approximately 122,781 square foot shopping center located in the affluent Raleigh submarket of Cary, North Carolina and anchored by a 55,973 square foot Kroger grocery store.

 Maynard Crossing is strategically located at the corner of Maynard and High House Road, a major intersection with over 43,000 cars per day.

Joel T. Murphy

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 pleased to further expand into North Carolina, with the Raleigh MSA being the 11th fastest growing in the US and we believe the tenants at Maynard Crossing will continue to benefit from the surrounding dense three mile population of approximately 90,000 people with household incomes of over $107,000."

Mr. Murphy added, "The acquisition of Maynard Crossing increases the size of our retail portfolio to 35 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."

The Company financed the acquisition utilizing a non-recourse first mortgage loan from Principal Financial Group.  The first mortgage loan is approximately $18.5 million, bears interest at fixed rate of 3.74% per annum and matures on September 1, 2032.  There are no loan guaranties provided by PAC or its operating partnership.

For more information on this news release, please contact:

Caroline Moore • The Wilbert Group

1720 Peachtree St., Suite 350 • Atlanta, GA 30309

O: 404-254-1484 • M: 843-360-9851

http://www.thewilbertgroup.com/

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Arbor Funds $15M in Multifamily Deals in Midwest and California

                                           

 

Michael Noll

 UNIONDALE, NY -- Arbor Realty Trust, Inc. (NYSE:ABR), a real estate investment trust and national direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets, announced the recent funding of seven loans totaling $15,048,000 under the Fannie Mae DUS® Loan, Fannie Mae DUS® Small Loan, and Freddie Mac SBL product lines.

Michael Noll, an Originator Sales Associate located in Arbor’s New York City office, originated all of the loans and stated, “As demonstrated by these transactions, the flexibility of our multifamily lending options allows us to provide customized solutions across the country.

“Arbor is uniquely positioned as a one-stop-shop for multifamily owners with the wide variety of products and loan structures necessary to help all our clients meet their business goals.”

Hillside Terrace Apartments, Spring Valley, CA: This 16-unit multifamily asset consists of two, 2-story buildings totaling 24,394 square feet situated on 0.56 acres. Constructed in 1986, the property received $2,000,000 funded under the Freddie Mac Small Balance Loan product with a 20-year fixed-to-floating rate amortizing on a 30-year schedule and one year of interest-only payments.

Perrin Apartments, Ypsilanti, MI: This 23-unit property received $1,720,000, funded under the Freddie Mac Small Balance Loan product. Cash-out refinance proceeds were used towards the acquisition of Eastwood Terrace and the transactions were run concurrently.

Eastwood Terrace Apartments, Ypsilanti, MI: This 84-unit multifamily asset received $4,620,000 funded under the non-recourse FNMA DUS Loan product line. The 7-year acquisition loan amortizes on a 30-year schedule with 5 years of yield maintenance. The loan included proceeds to be used for capital improvements.

Brookside Villas, Edmond, OK

Brookside Villas, Edmond, OK: This newly constructed 20-unit multifamily property with 19 units and 1 model/office unit received $1,310,000 funded under the Freddie Mac Small Balance Loan product. The transaction was a cash-out refinance for first-time Freddie Mac clients.

 Mixed-Use, Multifamily Property, Chicago, IL: This 12-unit multifamily property, anchored by 2,266 square feet ground floor retail space, received $2,350,000 funded under the Freddie Mac Hybrid ARM. Built in 1885, the property was completely rehabbed in 2016. The 20-year term is fixed for the first 10 years and floating for the next 10 years, with interest-only for 3 years and the remaining term amortizing over a 30-year schedule.

Parkview Arms, Oxford, OH: This 86-unit multifamily, garden style property was refinanced through the FNMA MAH Small Loan program. The property consisting of six, 2-story apartment buildings and three non-residential buildings (storage buildings) received $2,688,000 structured as a 10-year fixed-rate term with 9.5 years of yield maintenance and a 30-year amortization schedule. 

Multifamily Property, San Diego, CA: This 18-unit multifamily property received $1,580,784 funded through the Fannie Mae Small Loan product line. The loan had a 20-year hybrid term with 4.5-year yield maintenance through the fixed-rate term and 1% thereafter on a 30-year amortization schedule.

For more information on this news release, please contact:


 Arbor Realty Trust, Inc.                                                      

Bonnie Habyan

333 Earle Ovington Blvd, Suite 900                                    

Tel: 516.506.4615

Uniondale, NY 11553                                         

800.ARBOR.10

www.arbor.com

 bhabyan@arbor.com                                                                                          

Julie Johnson and Mark Johnson named health care practice group co-leaders at Avison Young

Julie Johnson

Phoenix, AZ  - Avison Young, the world's fastest-growing commercial real estate services firm, announced Avison Young Principal Julie Johnson, based in Phoenix, and Mark Johnson, an Executive Vice-President in the firm's suburban Chicago office, have been named co-leaders of the company's health care practice group in the U.S.

The newly created positions are designed to grow the firm's health care business-line coverage while offering best-in-class service to users, owners, developers and investors of health care real estate.

Mark Johnson

While leading the practice group's day-to-day operations, Julie Johnson and Mark Johnson will focus on elevating awareness of Avison Young's health care specialization within the national medical community.

"I'm excited to have the opportunity to take our medical office and overall health care business- line coverage forward with Mark," comments Julie Johnson. 

"We will use our experience and success in the health care property market to enhance our national practice group. Mark and I will be the conduits between the boots-on-the-ground service providers and our broad corporate platform. We look forward to expanding Avison Young's health care footprint within all key markets."

For more information on this news release, please contact:

Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224

Lincoln Property Company Southeast Negotiates New Lease and Lease Renewals at Midtown Plaza Two in Atlanta, GA

Caroline Cole

Michael Howell

ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) has secured a new lease and a lease renewal totaling 5,300 square feet at Midtown Plaza Two.

Michael Howell, Hunter Henritze and Caroline Cole of Lincoln lead leasing at the two-building Class A property located at 1360 Peachtree St. and 1349 W. Peachtree St., in the Midtown submarket of Atlanta.

Fortna, LLC signed a new lease at Midtown Plaza Two for 4,166 square feet. Fortna was represented by Andrew Waguespack and Chris Goershel of Colliers International. Allen and McCain, PC renewed its lease on 8,360 square feet, while Cambridge Wealth Advisors, LLC renewed its lease on 1,132 square feet.

“Midtown Plaza One and Two have attracted significant interest and leasing activity over the past few years, and nearly $5 million in renovations has helped increase interest even more,” said Lincoln’s Howell. “The property’s strategic location, along with its extensive amenities, makes Midtown Plaza a very desirable office location for tenants looking to be in one of Atlanta’s busiest areas.”

Hunter Henritze

Midtown Plaza offers immediate access to the I-75/I-85 Downtown Connector and the Arts Center MARTA station. Amenities include a fitness center, conference center, café, bank, 24-hour security, car wash and electric vehicle charging stations.

For more information on this news release, please contact:

Gary Tanner

The Wilbert Group

678-677-9754

gtanner@thewilbertgroup.com

www.lpcsoutheast.com.

HapCor Relocates Headquarters from Davie, FL to Miramar Park of Commerce

  

Lauren Pace

MIRAMAR, FL  – Sunbeam Properties & Development announced that HapCor, Inc., an international retail grocery product distributor and food service provider, leased 32,013 sq. ft. of office and warehouse space at 9587 Premier Parkway in the Miramar Park of Commerce.

HapCor relocated its headquarters from Davie to the Miramar Park of Commerce, the largest locally owned and managed business park in South Florida.

“HapCor started out as a distributor of retail grocery products to the Caribbean market exclusively,” said Hap Clare, president and founder of HapCor. “As we grew and signed agreements with brands such as Campbell’s, Pepperidge Farm, Borden Dairy, Badia Spice and others, we realized the importance of a location that would serve as a gateway to not only the Caribbean, but also to Latin America and eventually Cuba.”

Maridee Bell

HapCor maintains a dry and frozen food storage facility and corporate office at the Park, which provides convenient access to I-75 and Florida’s Turnpike and connectivity to Port Everglades, Port of Miami and regional airports. 

“As HapCor continues to grow and attract new clients in international markets, a base of operations that was well connected to distribution and shipping routes was essential,” said Vice President Maridee Bell of Sunbeam Properties & Development. “From the Park, HapCor is able to efficiently and speedily ship its wares, which is fundamental when transporting food products.”

In the transaction, HapCor was represented by Carlos Velasquez of Vivo Real Estate Group and Tom Viscount of Butters Realty and the Park was represented by Bell and Lauren Pace of Sunbeam Properties & Development.

For more information, contact Lauren Pace (lpace@wsvn.com)

 or Maridee Bell (mbell@wsvn.com)

 at 10212 USA Today Way, Miramar, FL 33025 or call 954-450-7900.

For more information on this news release, please contact:

Lexi Robinson

954-776-1999, ext. 255

lrobinson@piersongrant.com