HFF announces $95.5 Million financing for Meridian at Carlyle in Alexandria, VA

Meridian at Carlyle Apartments, 401 Holland Lane,
Carlyle Neighborhood, Alexandria, VA

NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announces $95.5 million in acquisition financing for Meridian at Carlyle, a 16-story, 403-unit apartment building in Alexandria, Virginia.

Cary Abod

The HFF team worked on behalf of a joint venture, which includes Lincoln Property Company (LPC), to place the five-year, floating-rate acquisition loan with MetLife Investment Management.

Meridian at Carlyle is located at 401 Holland Lane in Alexandria’s Carlyle neighborhood.  The property is adjacent to a Whole Foods Market, within walking distance to the King Street Metro station and surrounded by more than two million square feet of retail and restaurants and 5.6 million square feet of office space. 

 Meridian at Carlyle features units averaging 779 square feet, three levels of below-grade parking and amenities, including a resort-style pool, barbecue area, putting green, fitness center, club room with billiards, concierge service and on-site dry cleaning service.

Steven Klein

The HFF debt placement team representing the borrower included managing directors Steven Klein and Cary Abod.

“The soon-to-be ‘Lincoln at Old Town’ represents an opportunity to reposition a high-rise multifamily community in an attractive, transit-oriented location with the ability to create value through execution of interior unit renovations and common area amenity upgrades,” said LPC’s Jarl Bliss, executive vice president Mid-Atlantic. 

 “This property is a great addition to our value-add portfolio, and we have strong performance expectations for both the property and the market in the long-term.”

Founded in Dallas, Texas, in 1965, LPC is a full-service, vertically integrated institutional investment and property services platform with offices in the United States and Europe. 

Jarl Bliss

 Since 1965, Lincoln has acquired and developed approximately $35 billion of residential and commercial property.  LPC currently manages 356 million square feet of commercial property and 190,542 multifamily residential units for over 100 separate clients worldwide. 

For more information, please contact:

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com
http://www.lpc.com/.

Arbor Realty Trust Funds Nearly $20 Million in Fannie Mae DUS® MAH for Affordable Properties

Granite Ridge Apartments, Stockton, CA

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 five loans totaling $19,736,000 under the Fannie Mae DUS^® Multifamily Affordable Housing (MAH) product line.

Alexander Kaushansky

Alexander Kaushansky, Vice President, Originations at Arbor Realty Trust, arranged the financing.

“Arbor’s Fannie Mae DUS MAH product offers flexible and competitive terms to borrowers who invest in qualified affordable housing,” Kaushansky said. “With 100% of units at all five properties considered affordable, this transaction is a prime example of our commitment to responding to a nationwide need.”

Apartment Corp., a national privately held real estate investment firm with a portfolio exceeding 20,000 units, was the borrower, using the loans for both refinancing and acquisition purposes.

"Arbor was able to quickly arrange financing tailored to the specific needs of each one of these properties,” said Marc Menowitz, CEO of Apartment Corp. “The maximized loan proceeds and sheer number of products offered enabled us to improve the quality of our expanding national portfolio."

The transactions involved:

• Pacific Pointe, Stockton, CA — Built in 1971, this 80-unit LIHTC multifamily property received a $3,005,000 refinancing funded under the Fannie Mae DUS MAH product line. Since 2016, the borrower has invested approximately $150,000 in upgrades to the property.
• Granite Ridge, Stockton, CA — Built in 1974, this 80-unit LIHTC multifamily property received a $3,689,000 refinancing under the Fannie Mae DUS MAH product line. Since 2016, the borrower has invested around $100,000 in upgrades to the property.

Marc Menowitz

Silver Spring Terrace, Hickory, NC — Built in 1973, this 100-unit combination HAP and LIHTC garden-style property received $3,681,000 in acquisition financing under the Fannie Mae MAH Green Rewards program. $250,000 will go towards interior and exterior upgrades to the property. 

• Yorkshire & Windsor Village, Shreveport, LA — Built in 2000, this 132-unit LIHTC garden-style property received $2,661,000 in acquisition financing under the Fannie Mae DUS MAH product line. In addition to rent restrictions, the property will keep a minimum of 15% of units available to accommodate large families, and a minimum of 25% of units able to serve special needs groups like the elderly and handicapped. $290,000 will go towards interior and exterior upgrades at the property.
• Sonora Portfolio, Sonora & Jamestown, CA — Built in 1998, this three-property, 220-unit multifamily LIHTC portfolio received $6,700,000 in refinancing under the Fannie Mae DUS MAH Preservation product. Since 2016, the borrower has invested approximately $460,000 in upgrades to the property.

For more information, please contact:

Arbor Realty Trust, Inc.

333 Earle Ovington Blvd, Suite 900

Uniondale, NY 11553

800.ARBOR.10

arbor.com

Contact: Mike Ratliff

Tel: 516.506.4221

mratliff@arbor.com

Pacific Industrial Acquires Prime 157,204-SF Industrial Property in Affluent Costa Mesa, CA Market

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Costa Mesa, CA Industrial Property

Trent Walker

Orange County, CA – Pacific Industrial, one of the most active privately held industrial development and investment firms in Southern California, has completed the strategic acquisition of a 157,204 square-foot, two-building industrial property situated immediately adjacent to John Wayne Airport in Costa Mesa, California for approximately $33 million.

Pacific Industrial closed on this property with one of its key institutional partners, a private equity fund advised by Crow Holdings Capital.

Trent Walker, an Executive Vice President with Voit Real Estate Services, represented Pacific Industrial as the buyer in the off-market acquisition.

Dan Floriani, Co-Founder of Pacific Industrial explains, "This investment is perfectly aligned with our company’s ongoing strategy to acquire irreplaceable assets in exceptionally well located pockets that will attract a wide variety of users.”

Dan Floriani

The property is well positioned for value creation, according to Floriani, who points to its direct frontage on the Orange County airport, easy access to several freeways, and location in a highly affluent pocket of the Orange County Airport submarket as factors that made the asset an ideal target for his firm, and for future tenants.

One of the property’s buildings is home to the U.S. headquarters of RipCurl, a major Australian designer, manufacturer, and retailer of surfing sportswear. The second building was recently vacated by Karma, offering the opportunity for a valuable renovation and repositioning in the market, according to Floriani.

For more information, please contact:

Jordan Kruk/Jenn Quader

Brower Group

(949) 955-7940

jkruk@brower-group.com

www.voitco.com.  

www.Pac-Industrial.com

Atlanta Hawks Basketball Club Signs Multi-Floor Lease Renewal at 101 Marietta Street

Centennial Tower, 101 Marietta Street, Downtown Atlanta GA

Scott Wilkinson

ATLANTA, GA  (May 14, 2018) – The Dilweg Companies announced today the signing of a long-term lease renewal with the Atlanta Hawks Basketball Club at 101 Marietta Street, a recently renovated 36-story Class A office tower and signature landmark of the Downtown Atlanta skyline.

The eight-year extension represents 53,865 square feet of premium office space on three different floors that currently houses over 200 Hawks employees. 

Major renovations are planned aimed at increasing the number of collaborative and employee-friendly work spaces. The NBA franchise has called 101 Marietta Street home since 2004.

Anthony Dilweg

“We love being downtown – so close to the Arena, MARTA and Centennial Park and we are committed to the future of Downtown Atlanta,"  said Scott Wilkinson, Chief Legal Officer of the Hawks.

"The offices at 101 Marietta Street check all the boxes in terms of convenience, location and overall appeal for our employees, making it an easy decision to extend our relationship.

“The cutting-edge workspace and premier amenities that Dilweg has delivered in the last year have been impressive, and have fostered an energized atmosphere that will attract and retain quality talent. 

"We look forward to embarking on our next chapter downtown at 101 Marietta Street and a transformed Philips Arena.”

101 Marietta Street recently underwent a $5 million repositioning project, and offers brand new amenities, breathtaking skyline views and access to vibrant in-town destinations.

Jerry Banks

 Improvements include a state-of-the-art front lobby, life-size two-way virtual window offering real-time views of the streetscape and building interior, brand new fitness center, and new tenant lounge known as “The Hub” featuring televisions, a pool table, couches, and kitchen with barstool-style seating.

Chris Port, Senior Vice President with CBRE, represented the owners. John Dolan from CBRE represented the tenant.

“The Hawks’ commitment to 101 Marietta Street affirms the building’s first-class amenities and premier location in the heart of Downtown Atlanta,” said Anthony Dilweg, Founder and CEO at The Dilweg Companies. “The significant capital investments reflect our commitment to delivering future-ready workspaces that foster growth for tenants and build long-term value for our strategic partners.”

Chris Port

The building is currently 80 percent leased and includes notable tenants such as The Associated Press, CH Robinson, NAGRA/Kudelski Group, Oracle, Cogeco PEER 1 and Southern Education. 

The broad range of industry sectors represented at 101 Marietta Street include media, entertainment, logistics, digital security, education, legal and professional services.

“We are pleased to continue our partnership with the Atlanta Hawks, who are a cornerstone tenant and valued ambassador for our building,” said Jerry Banks, Managing Director at The Dilweg Companies. “The resurgence of Downtown Atlanta coincides with the robust leasing momentum at 101 Marietta Street. We look forward to sharing more news on our growing and diverse tenant roster in the near future.”

John Dolan

Tenants enjoy convenient access to three separate MARTA train stations located near the building, and are also just a short walk away from Centennial Olympic Park, CNN Center, Georgia Aquarium, the College Football Hall of Fame and the new Mercedes-Benz Stadium.

101 Marietta Street is in close proximity to several shopping and dining venues in the heart of Downtown Atlanta, and is part of the city’s newly dedicated arts and entertainment district.

CBRE is overseeing leasing at 101 Marietta Street. To learn more about floor plans and available office space, click here. Photos of the property can be found here.

The Dilweg Companies is a full-service commercial real estate investment firm based in Durham, North Carolina. 

Since its launch in 1999, Dilweg has gained broad experience in the acquisition, development and operation of office, retail, warehouse/flex, multifamily and self-storage properties. 

Dilweg’s investors have sponsored over $1.34 billion in assets and more than 11.1 million square feet throughout North Carolina, Florida and Georgia. For more information, please call (919) 402-9100 or go to www.dilweg.com.

With a bold identity and strong new ownership, the Atlanta Hawks Basketball Club and Philips Arena remain committed to making Atlantans proud on the court and off. 

Phillips Arena, Atlanta, GA

The 2014-15 Southeast Division Champions, the Hawks made the postseason in 10 consecutive seasons and reached the Eastern Conference Finals for the first time in franchise history in 2015. 

Off the court, the organization has built a culture of inclusion, diversity and innovation, all with a touch of Southern Hospitality.

 It continues into the community where the organization builds bridges through basketball, whether by constructing and refurbishing courts in Atlanta neighborhoods, providing scholarships to our basketball camps, or surprising and delighting our fans with unique Atlanta Hawks experiences. 

Atlanta Hawks Membership, which includes your seat for every home game for the 2018-19 regular season games, is on sale now at www.hawks.com/membership or by calling 866-715-1500! For more information on the Hawks, log on to www.hawks.com today or follow us on twitter @ATLHawks.

For more information, please contact:

Nick Banaszak

1718 Peachtree St., Suite 1048 

Atlanta, GA 30309

M: 256-457-5384

www.thewilbertgroup.com

Capital Square 1031 Completes DST Offering of 160-Unit Multifamily Community in Athens, GA

Louis Rogers

RICHMOND, VA – Capital Square 1031, a leading sponsor of Delaware statutory trust investments, announced its offering, CS1031 High Ridge Apartments, DST, comprised of a 160-unit multifamily community in Athens, Georgia, has been fully subscribed by a total of 33 investors.

“High Ridge Apartments is located in a strong multifamily rental market in Athens, Georgia,” said Louis Rogers, founder and chief executive officer.

 “With numerous amenities and excellent fundamentals, this multifamily offering aligns well with our strategy of providing investors high-quality, passive investments with a potential for long-term growth.”

Located at 700 Mitchell Bridge Road, High Ridge Apartments is situated on 18 acres of land. The community is comprised of 11 two- and three-story residential apartment buildings consisting of one-two- and three-bedroom units, with an average size of 1,228 square feet.

  

For more information, please contact:

Julie Leber      

Spotlight Marketing Communications  

949.427.5172, ext. 703  

julie@spotlightmarcom.com   

Chatham Lodging Announces Monthly Dividend

WEST PALM BEACH, FL —Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels and owns 135 hotels wholly or through joint ventures, announced its board of trustees has declared a monthly common share dividend of $0.11 for May 2018.

         The common dividend is payable June 29, 2018, to shareholders of record on May 31, 2018.

Chatham Lodging Trust is a self-advised, publicly-traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels.

The company owns interests in 135 hotels totaling 18,518 rooms/suites, comprised of 40 properties it wholly owns with an aggregate of 6,020 rooms/suites in 15 states and the District of Columbia and a minority investment in two joint ventures that own 95 hotels with an aggregate of 12,498 rooms/suites.

For more information, please contact:

Patrick Daly

Office Manager

Daly Gray, Inc.

patrick@dalygray.com

Office:  (703) 435-6293

Cell:  (703) 300-8289

www.chathamlodgingtrust.com.

HFF announces $83 Million financing for high-end, wellness-focused condominium development in Denver, CO

Rendering of planned Lighthouse on 17th condominiums, Sloan's Lake neighborhood, Denver, CO

Brock Yaffe

DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announces $83.03 million in financing for the development of Lakehouse on 17^th, a 196-unit, for-sale condominium project in Denver’s Sloan’s Lake neighborhood.

HFF worked exclusively on behalf of NAVA Real Estate Development to place the floating-rate construction loan with a national bank.

Lakehouse on 17^th is located at 4202 W. 17^th Avenue on the south side of the 177-acre Sloan’s Lake Park.  The 12-story project will comprise 196 units, 13 of which will be multi-level townhomes, along with 6,000 square feet of retail. 

Lakehouse on 17^th will be the only waterfront high-rise in the Denver metropolitan area and will provide views of the city’s largest lake, downtown and the Rocky Mountains. 

Josh Simon

The property will feature high-end finishes and amenities, including a second-floor landscaped amenity deck with community gardens, an urban farm, pool, hot tub, lounging areas and fire pit.  

Other amenities will include a resident lounge with community kitchen, indoor/outdoor fireplace, media den and private event space, as well as a wellness center with a fitness lab, yoga studio and fresh juicing station. 

 Lakehouse on 17^th is the first residential project in Colorado to pilot and pursue WELL Building Certification from the International Well Building Institute (IWBI). The WELL Building Standard is the first to integrate human health and wellness into the design, construction and operations of the built environment in order to optimize the health of its end users.

Bryan Clark

The HFF debt placement team representing the borrower included director Brock Yaffe and managing directors Josh Simon and Bryan Clark.

“Condo development in Colorado has been limited for more than a decade, and financing Lakehouse required significant expertise to connect the dots,” stated Brian Levitt, president of NAVA. 

 “The HFF team did an outstanding job helping NAVA finance Lakehouse as Colorado’s first registered project to pursue WELL Building Certification.”

NAVA Real Estate Development (NAVA) is a real estate investment and development firm founded in 2013 by Denver residents Trevor Hines and Brian Levitt. 

 NAVA strives to develop architecturally significant buildings in prime locations that blend quality, function and design. The name NAVA comes from a Hebrew word meaning “beautiful”, and NAVA is committed to creating developments that shape communities and are sensitive to their environments.  

Brian Levitt

The firm is positioned as an agile and innovative group to identify strategic opportunities and execute with precision.  NAVA is proud to work with the best technology, resources and teams to ensure the greatest economic, social and environmental success, for its investments and its partners.

For more information, please call:

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

www.bcorporation.net

www.navareal.com 

or call 303.900.0060