Select Capital Corp. Expands National Accounts Team with Hiring of Laurie Levassar and Michelle Moore

Laurie Levassar

 LADERA RANCH, CA – Select Capital Corporation, the dealer manager for private offerings and public non-traded real estate investment trusts sponsored by SmartStop Asset Management, LLC, announced the company has hired Laurie Levassar and Michelle Moore as directors of national accounts. 

Levassar and Moore will be responsible for developing strategic partnerships with broker-dealers and building the selling group for Select Capital Corporation nationwide. 

“We are pleased to welcome Laurie and Michelle, who each bring to the firm a strong background and many fruitful relationships in the broker-dealer industry,” said H. Michael Schwartz, chief executive officer of SmartStop. “Their history of success and deep understanding make them valuable additions to our team.”

Levassar brings 19 years of experience to her role at Select Capital Corporation. Prior to joining the company, she served as vice president of strategic accounts with NorthStar Securities, where she was responsible for expanding distribution and strengthening the firm’s broker-dealer relationships on the West Coast and central region.

Michelle Moore

Levassar earned a bachelor’s degree from Texas A&M University. 

Moore, who has 17 years of experience, previously served as senior vice president, national accounts for SC Distributors. She was responsible for building and managing ongoing relationships with broker-dealer partners and providing sales, marketing and due diligence support for its registered investment products.

H. Michael Schwartz

 Moore earned a bachelor’s degree from the University of California, Davis and an M.B.A. from Pepperdine University. She serves on the education and women’s initiatives network committees for the Investment Program Association. 

Additional information regarding SmartStop is available at www.SAM.com. More information regarding SmartStop® Self Storage in the United States and Canada is available at 
www.smartstopselfstorage.com.

 For more information, please contact:

Julie Leber
Spotlight Marketing Communications
949.427.5172, ext. 703
julie@spotlightmarcom.com

HFF hires Rick Salinas as a director in its San Francisco office

Rick Salinas

SAN FRANCISCO, CA –– HFF announced Rick Salinas has joined the firm as a director focused on multi-housing debt and equity placement transactions in its San Francisco office.

Mr. Salinas has more than 15 years of experience in commercial real estate finance and joins HFF from Berkadia where he was a senior director in their Mortgage Banking office focused on multifamily loan production in the Western region with an emphasis on GSE, life company and bridge lending. 

 Previously, Mr. Salinas worked for 10 years at Wells Fargo with positions in the Multifamily Capital Group and the Capital Markets Group.  Mr. Salinas is a board member of the Bay Area Mortgage Association and a member of Urban Land Institute and CCIM.  He is a Bay Area native and studied at the University of San Francisco and San Francisco State University.

Charles Halladay

“The addition of Rick marks our continued strategic growth initiative in San Francisco through hiring best-in-class producers while maintaining the great culture we have as a firm,” said Charles Halladay, senior managing director and co-head of HFF’s San Francisco office. 

 “We are tremendously excited to have Rick as part of our team to continue the growth of our multi-housing business and to provide value to our clients.”

Holliday GP Corp. ("HFF") is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. 

HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. 

Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF).  

For more information please visit hfflp.com or follow HFF on Twitter @HFF.

For more information, please contact:

KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990
krmurphy@hfflp.com

Ackerman & Co. Hires Veteran Commercial Real Estate Broker Chris Miller as Senior Vice President in Industrial Services Group

 

Chris Miller

ATLANTA, GA – As Ackerman & Co. continues to expand its Atlanta industrial portfolio, the firm has tapped veteran commercial real estate broker Chris Miller as a senior vice president in its Industrial Services group with a focus on the leasing and sales of Ackerman-owned properties. He will also provide third-party and tenant representation services.

“Chris has deep experience as a commercial real estate broker and an outstanding track record of leasing high-profile industrial and office properties, as well as representing tenants in major lease transactions across Atlanta and the Southeast,” said Brett Buckner, senior vice president and leader of Ackerman’s Industrial Services team. “He’ll be an excellent addition to our industrial group.”

Prior to joining Ackerman, Miller was a vice president at NAI Brannen Goddard, where he represented tenants and landlords in leasing and sales transactions, and represented seven ownership entities in a 2.4-million-square-foot office, industrial and flex portfolio. He also was a senior marketing and leasing manager at First Industrial Realty Trust and a leasing manager at Parthenon Realty LLC.

Brett Buckner

In the past three years, Ackerman & Co. has developed and acquired nearly 6 million square feet of industrial space in the Atlanta market. 

The firm just announced it will develop Rockdale Technology Center in the I-20 east submarket, a business park that will ultimately offer up to 1 million square feet of Class A industrial space, and Uline Inc. recently occupied the firm’s 1-million-square foot Braselton Logistics Center in Braselton, Ga. 

The firm’s recent acquisitions include the 69-property, 4.1-million-square-foot Stone Mountain Industrial Park; a four-building, 217,089-square-foot portfolio in Lavista Business Park; and three distribution facilities totaling 274,791 square feet in Westgate Business Park.

  

For more information, please contact:

Steve Webb (swebb@ACKERMANCO.NET)

HFF announces financing for 26-unit apartment complex in Houston, TX CBD

1218 Jackson Apartments, Montrose Neighborhood, Houston, TX

HOUSTON, TX – April 5, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces financing for 1218 Jackson, a recently renovated, 26-unit, garden-style apartment complex in Houston’s Montrose neighborhood.

The HFF team worked on behalf of Jackson Complex LLC to arrange a seven-year, fixed-rate Freddie Mac small balance loan.  The borrower has been investing in apartments and other commercial properties in the Midtown and Montrose neighborhoods for several years.

1218 Jackson is situated just off Waugh Drive to the west of Montrose Boulevard.  The property’s central Houston location places it near multiple dining, entertainment and lifestyle amenities in the immediate and surrounding neighborhoods. 

 Originally constructed in 1962, the three-building property underwent a complete renovation in 2016.  1218 Jackson comprises 25 one-bedroom units and one two-bedroom unit, each containing in-unit washers and dryers.  The property is 100 percent occupied.

Kelly Layne

The HFF debt placement team representing the borrower included senior director Kelly Layne.

“Smaller garden-style apartments in the Midtown and Montrose neighborhoods are vanishing at a rapid pace making way for townhouse development and larger Class A apartment complexes,” Layne said. 

 “As a result, affordable workforce housing proximate to downtown is in short supply and demand is high since young professionals working downtown and in the Greenway area are choosing to live close to work within the Inner Loop’s walkable, amenity-rich neighborhoods.”

  

For more information, please contact:

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

HFF announces sale and financing of grocery-anchored retail center in Dubuque, Iowa

Warren Plaza, Dubuque, Iowa       Photo by John Sullivan

CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of and acquisition financing for Warren Plaza, a 96,310-square-foot, grocery-anchored shopping center in Dubuque, Iowa.  

Amy Sands

The HFF team marketed the property for the seller, Brixmor Property Group.  The DESCO Group purchased the asset.  Additionally, working on behalf of the new owner, the HFF team arranged a fixed-rate loan to finance the acquisition.

Clinton Mitchell

Anchored by a market-dominant Hy-Vee grocery store, the 90.5-percent-leased Warren Plaza is also home to Super Cuts, Video Games Etc!, Miracle Ear and Great Dragon Restaurant in addition to Chick-fil-A, which is on a ground lease. 

The center is shadow-anchored by the only Target within 75 miles.  Situated on 13.33 acres at 3500 Dodge Street, Warren Plaza is located along the highly trafficked U.S. Highway 20 retail corridor in Dubuque, an Iowa community at the intersection of Iowa, Illinois and Wisconsin. 

The center draws from an expansive trade area that includes all three states and about 157,261 consumers.  Additionally, the center is across the street from Kennedy Mall, the only super regional mall within 90 miles.

Jules Sherwood

The HFF investment advisory team representing the seller included senior directors Amy Sands and Clinton Mitchell along with managing director Jules Sherwood, a licensed Iowa real estate broker.

The HFF debt placement team included director Christopher Knight.

  

For more information, please contact:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

https://www.brixmor.com.

WNC Closes $135 Million Institutional LIHTC Fund

Christine Cormier

IRVINE, CA – WNC, a national investor in real estate and community development initiatives, announced it has closed WNC Institutional Tax Credit Fund 44, L.P. (WNC Corp. 44), a $135 million institutional low-income housing tax credit (LIHTC) fund.

WNC Corp. 44 includes 2,098 units of urban, suburban, and rural affordable housing for families and seniors scheduled for new construction and rehabilitation.

The properties are located in 18 states: Alaska, Arkansas, Arizona, California, Connecticut, Iowa, Illinois, Kansas, Louisiana, Minnesota, Mississippi, North Dakota, New Mexico, Rhode Island, Tennessee, Texas, Utah and Wisconsin.

“We are particularly excited about the closing of this fund due to several of its projects containing units built for individuals with special needs,” said WNC Senior Vice President of Investor Relations Christine Cormier.

“Additionally, WNC Corp. 44 will bring the first-ever affordable housing development to Kodiak, Alaska, expanding the program’s reach and delivering much needed, low cost housing options to families in need.

"WNC Corp. 44 also has a very high percentage of repeat development partners at 94 percent, speaking volumes of the fund’s quality of projects and the lasting partnership between WNC and each developer.”

For more information, please contact:

Julie Leber

Spotlight Marketing Communications

949.427.5172, ext. 703

julie@spotlightmarcom.com

www.wncinc.com.

HFF announces $5.4M sale and $3.78M financing of Orlando-area retail center

Michael Weinberg

ORLANDO, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $5.4 million sale and the $3.78 million acquisition financing of the Shoppes of Lake Mary, a 38,495-square-foot shopping center in the Orlando-area community of Lake Mary, Florida.

The HFF team marketed the property on behalf of the seller, Cliff Stein and Reid Berman of Tower Realty Partners, Inc.  Galium Capital purchased the asset free and clear of existing debt.  Additionally, the HFF team worked on behalf of the new owner to place the five-year, floating-rate loan with Florida Community Bank, N. A. 

Shoppes of Lake Mary is home to 16 tenants, including Altamonte Pediatrics, Painting with a Twist, French Quarter Exchange, Dalli’s Pizzeria, Lighthouse Seafood and Lake Mary Dry Cleaners. 

Rebecca Van Reken

Situated on 4.67 acres at 101 North Country Club Road, the shopping center is in Lake Mary, a high-growth area in the northern part of the Orlando MSA, across the street from the new 200-unit Station House multi-housing community. 

Brad Peterson

Additionally, Lake Mary is home to 7.5 million square feet of office space, and 67,798 residents earning an average annual household income of $79,954 live within three miles of the center. 

The HFF investment advisory and debt teams representing the seller included senior managing director Brad Peterson, director Whitaker Leonhardt and associate Michael Brewster. 

The HFF debt placement team representing the borrower consisted of senior managing director Michael Weinberg and managing director Rebecca VanReken.  Andy Johnson, senior vice president at Florida Community Bank, N. A., represented the lender.

“Lake Mary is one of the most desirable submarkets in the Orlando MSA not only for retail but also for apartments and office investments as well,” Leonhardt said.  “Investors were thrilled with the opportunity to reposition Shoppes of Lake Mary given its location in downtown right next to City Hall and adjacent to the SunRail station.”

Whitaker Leonhardt

“We were pleased to source acquisition financing for a quality investor like Galium Capital,” VanReken added.  “The Galium team’s thoughtful approach and attention to detail will serve them well as the new owners of this charming neighborhood center.”

Tower Realty Partners, Inc. (Tower) is a privately held, commercial real estate investment and management company based in Orlando, Florida.  The company is a recognized leader in the value-add office investment community with an established 30-year track record of delivering exceptional risk adjusted returns for investors. 

 Founded in 1987 by principals Cliff Stein and Reid Berman, Tower has been involved for the acquisition, leasing and management of over 20 million square feet of real estate totaling in excess of $1.6 billion in transactions. 

Iser Rabinovitz

 In addition to real estate investments and property management, Tower offers a full spectrum of supplementary services including asset management, development, facilities management, construction management and brokerage services. 

For more information, visit towerrealtypartners.com.

Galium Capital is a real estate investment and development company based in Miami, Florida, with $250 million in assets under management.  Led by Jacques Bessoudo and Iser Rabinovitz, Galium is an active value-add investor in the residential and retail sectors.  Learn more atgaliumcapital.com.

 For more information, please contact:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

RECI Finds Many Attractive Funding Choices From Pool of Lenders

John Oharenko

Chicago, IL - Last month's Fed rate hike was a result
of a stable and strong economy characterized by tight labor markets. As
short-term rates climb, long-term rates stay stubbornly low. Today's prime
rate, 4.75%, is often more costly than typical ten-year mortgages. As a
result, borrowers are rewarded with better pricing for securing long debt
instead of riding with floating rates. After adjusting for compressed
mortgage spreads and treasury rate hikes, mortgage rates are about the sameas January of last year. Given these "inverted term" mortgage marketconditions, the following observations are noted:

Volatility: Even as the Fed is expected to raise rates again throughout the year, global events dominate pricing beyond monetary policy control.
March's five and ten-year treasury movements in excess of 15 basis points
prove that less predictable rate behavior is now "normal." Also, the same
two treasury notes are only 18 basis points apart, historically out of
balance. 

Jeanne Peck

Tight spreads: Even as conduit pricing widened over recent weeks (nearly 20
basis points during the past quarter), relentless competition from other
sources and lack of product keep loan spreads from widening too much.
Mortgages still provide attractive pricing as compared to equivalent
corporate bond yields.

Creativity: Above and beyond pricing, lenders now generously offer
interest-only payments as part of the underwriting. Expect to see even more
"freebies" [or at substantially reduced costs] such as appraisals and
third-party fees incorporated into the loan closings. Bridge lending
programs prove to be popular forms of creative financing for value-add
properties with about a hundred funding sources targeting such
opportunities.

Variety: A multitude of lenders target different components of the capital
stack, offering many attractive funding choices. Banks stay on the short
end of the term curve; Life companies and conduits battle for longer-term
debt; Agencies target all types of multifamily opportunities and debt funds
provide higher proceeds. With so many sources, pricing consistency varies
as lenders continuously adjust offerings. Advertised pricing and terms will
often improve - at times dramatically-due to intense competition.

The Real Estate Capital Institute's(r) John Oharenko, recommends, "Loan
underwriting is evolving quickly as lenders juggle with finding winning
funding formulas. Commercial real estate is still a darling sector for
investment managers."


For more information, please contact: Jeanne Peck, Executive Director

director@reci.com 
www.reci.com