Arbor Funds $12 Million in Student Housing Transactions in Connecticut

Eric Regenbogen

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, recently funded bridge transactions for two student housing properties in Northeastern Connecticut.

The properties, a 100-unit townhome style complex and a 40-unit apartment structure, received $12M in combined bridge funding. Both acquisitions come with a 24-month term.

The client approached Arbor for a creative structure that would allow for not only the purchase costs, but the rehab costs for the properties as well. Arbor was able to structure a 75% loan-to-cost product for these investments.

Eric Regenbogen of Arbor’s Uniondale office originated the loan. “Our balance sheet execution is an extremely effective way to show clients how Arbor can tailor a specific loan to their needs and expectations,” Regenbogen explained. “Our quickness and efficiency are two of the reasons why clients love our loan products. I was very happy to structure these transactions for my client, and I’m looking forward to many more deals with this group.”

Both properties are situated near the University of Connecticut, which has a student population of over 26,000. Combined between them, the complexes include onsite management, parking, tenant storage space, laundry rooms, and BBQ grills, as well as basketball, tennis, and volleyball courts.

 

For more information, please contact:

Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

Florida Vocational Institute Establishes Second Campus in South Florida

Denyse Antunes

MIRAMAR, FL – Florida Vocational Institute (FVI) has established its second campus in South Florida at the Miramar Park of Commerce, South Florida’s largest locally owned and managed business park. 

Occupying 29,849 sq. ft. of space at 3502-3560 Enterprise Way, FVI is an accredited occupational post-education provider that offers training for students interested in entry-level careers in healthcare and information technology.

Maridee Bell

“Our new campus in Miramar has the capacity to accommodate additional staff and several hundred more students,” said Denyse Antunes of Florida Vocational Institute. 

“As FVI continues to grow, we are excited to expand program offerings that further provide our students with the knowledge and training necessary to thrive in South Florida’s competitive work environment, subsequently offering employers qualified and skilled candidates and benefitting the regional business community as a whole.”

Lauren Pace

The Miramar campus is FVI’s third and largest location in South Florida. In addition to its 15,677 sq.-ft. main campus in Miami, which serves more than 300 students, FVI operates a 750 sq.-ft. satellite facility in Doral, which serves six students enrolled in the Institute’s web development and design programs.

“FVI will undoubtedly benefit from the Park’s accessibility,” said Vice President Maridee Bell of Sunbeam Properties & Development, which leases and manages the Miramar Park of Commerce. 

Ryan Goggins

“The proximity to major highways and public transportation enables FVI to serve students from both Broward and Miami-Dade counties. Additionally, the space’s versatility and tech compatibility offer ideal accommodations for hands-on learning and professional development.”

In the transaction, the Park was represented by Bell and Lauren Pace of Sunbeam Properties & Development as well as Ryan Goggins and Jonathan Kingsley of Colliers International.

Jonathan Kingsley

Since breaking ground in 1984, Sunbeam has developed the Miramar Park of Commerce into the largest locally owned and managed Business Park in South Florida, with over five million square feet of office/service, laboratory, pharmacy, light manufacturing and distribution space. 

The world class Park is home to more than 10,000 employees from more than 180 national and international companies including GE, Siemens, Tommy Hilfiger, Neiman Marcus, Humana, Quest Diagnostics;

Toyota, Rolls Royce Commercial Marine, Stanley Black & Decker, Pepperidge Farm and Nissan. 

Flex/office space, corporate build-to-suits as well as a limited number of second-generation spaces are available in the Park. 

For more information, please contact: 

Lexi Robinson
954-776-1999, ext. 255
lrobinson@piersongrant.com  or 

Lauren Pace (lpace@wsvn.com) or Maridee Bell (mbell@wsvn.com) at 10212 USA Today Way, Miramar, FL 33025 or call 954-450-7900.

HFF announces sale of 3 buildings within Countyline Corporate Park in Miami, FL

                                                            

Countyline Corporate Park, Miami, FL         Photo by Raul Pedroso

                                                                              

Luis Castillo

MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of three newly constructed, fully-leased, Class A, trophy industrial buildings in Countyline Corporate Park totaling approximately one million square feet in the Miami MSA.

HFF marketed the property on behalf of the seller, Flagler Global Logistics, a wholly-owned subsidiary of Florida East Coast Industries, LLC (FECI).  Duke Realty Corporation purchased the asset free and clear of existing debt.

Countyline Corporate Park is Miami-Dade County’s newest master-planned business park and will ultimately contain up to eight million square feet of commercial space within approximately 500 acres. 

Adam Herrin

Countyline Corporate Park enjoys a strategic location bordering Florida’s two largest counties and offers convenient access to the region’s principal highway systems to connect with 83 percent of South Florida’s population within a 60-minute drive. 

Combined with its state-of-the art industrial design, highly functional improvements and business park setting, Countyline Corporate Park was the ideal choice for tenants like KLX Aerospace., CGI Windows & Doors, Hyde Shipping and others, which fully pre-leased the three buildings prior to completion.

The HFF investment advisory team representing the seller included managing directors Luis Castillo and Adam Herrin, executive managing director Manny de Zárraga, senior managing directors Rusty Tamlyn and Coleman Benedict and director Tracey Goo.

Tracey Goo

“Investor interest for industrial properties in South Florida remains exceptionally high, and savvy investors like Duke Realty are strategically pursuing opportunities to build scale in gateway markets with strong long-term growth potential like Miami,” Castillo said. 

Manny de Zarraga

“Flagler successfully executed its business plan for the first three buildings within this world-class business park, and we are honored to have represented one of the preeminent developers in our market on this assignment.”

HFF is a top-producing capital markets intermediary in the country for industrial assets, having closed more than $41 billion in over 2,225 transactions since 1998. 

 The firm has experience in securing transactions for all types of industrial assets, including bulk warehouse, flex, R&D, manufacturing, cold storage and telecommunications.

Flagler Global Logistics is one of Florida’s oldest and largest full-service commercial real estate and development companies. 

Rusty Tamlyn

Headquartered in Miami, Florida, Flagler has a rich history dating back over a century.  Mr. Henry Flagler first established a predecessor company in 1892, which became a pioneer in the development of Florida's eastern coast. 

 Flagler is a wholly-owned subsidiary of Florida East Coast Industries, LLC, which is owned by private equity funds managed by affiliates of Fortress Investment Group, LLC.  For more information, visit www.feci.com.

Duke Realty Corporation owns and operates approximately 149 million rentable square feet of industrial assets in 20 major U.S. metropolitan areas.

 Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P 500 Index. More information about Duke Realty Corporation is available at www.dukerealty.com.

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. 

Coleman Benedict

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. 

HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).  For more information, please visit hfflp.comor follow HFF on Twitter @HFF.

For more information, please contact:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

HFF announces sale of 37.94 acres within Charlotte’s University Research Park

Hunter Barron

CHARLOTTE, NC –– HFF announces the sale of a 37.94-acre land site within University Research Park in Charlotte, North Carolina.

 The HFF team marketed the property on behalf of the seller, Crescent Communities.  Mattamy Homes purchased the site free and clear of existing financing.

 The property is located along Governor Hunt Road to the east of Interstate 85 in the 3.5 million-square-foot University Research Park, which is the region’s second largest employment center and home to some of the region’s fastest-growing financial services, energy, technology and healthcare employers. 

Sarah  Godwin

The property was rezoned for residential use prior to sale, and the new owner plans to develop a townhome community on the site.

 The HFF investment advisory team representing the seller consisted of senior director Hunter Barron, director Sarah Godwin and managing director Justin Good.

Crescent Communities is a nationally recognized, market-leading real estate company specializing in the development and sale of single-family, multifamily and commercial / mixed-use communities. 

  The company creates high-quality, differentiated communities in desirable locations in many of the fastest growing markets in the Southeast and Southwest. 

Justin Good

Crescent’s development portfolio includes more than 60 single-family, master planned communities, over 32 multifamily communities and more than 20 million square feet of commercial space. 

 Its single-family home business operates as Fielding Homes and its multifamily communities are branded Novel by Crescent Communities.  

Mattamy Homes is the largest privately owned homebuilder in North America, with a 40-year history of operations across the United States andCanada.  

Every year, Mattamy helps 7,000 families realize their dream of home ownership.  In the United States, the company is represented in 10 markets – Charlotte, Raleigh, Phoenix, Tucson, Jacksonville, Orlando (where its U.S. head office is located), Tampa, Sarasota, Naples andSoutheast Florida – and in Canada, those communities stretch across the Greater Toronto Area, as well as in Ottawa, Calgary and Edmonton.  

  For more information, please contact:

  OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

www.crescentcommunities.com.

www.mattamyhomes.com 

HFF announces $149 million refinancing of Genesis Campus Point in San Diego, CA

SAN DIEGO, CA –– HFF announces the $149 million refinancing of Genesis Campus Point, a three-building, state-of-the-art life science campus totaling 314,135 square feet in the UTC submarket of San Diego, California.

 

Timothy Wright

The HFF team worked on behalf of the borrower, Phase 3 Real Estate Partners, Inc., to secure the 48-month floating-rate loan.

Genesis Campus Point is located at 4224 and 4242 Campus Point Court and 10210 Campus Point Drive in San Diego, which ranks as the third largest biotech market in the country behind Boston and San Francisco.

  Situated just east of Interstate 5 and directly south of its interchange with Interstate 805, the property is positioned within the heart of the UTC submarket, referred to as the “Golden Triangle”, and is proximate to the UCSD health system, Scripps medical campus, Westfield UTC Mall, Torrey Pines Reserve and Golf Course and numerous dining and entertainment venues. 

Olga Walsh

The property comprises three Class “A” life science buildings, an underground parking facility and an amenity building that features a fitness center with lap pool, yoga studio, spin studio and showers/lockers; an on-site restaurant/bar and conference centers. 

Todd Sugimoto

Tenants at the life science campus include Poseida Therapeutics, MabPlex USA, Heron Therapeutics, Celgene, Tocagen, BioLabs San Diego LLC and AveXis Inc.

The HFF debt placement team representing the borrower included senior managing director Tim Wright, managing director Todd Sugimoto and senior associate Olga Walsh.

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

Phase 3 Real Estate Partners, Inc. (P3RE) is a progressive real estate company dedicated to fostering the growth of the life science community by providing premiere, Class A environments that meet the needs of companies today and in the future.  

P3RE’s properties are located in the epicenters of the life science markets in San Diego and San Francisco.  These are innovative urban centers for the life sciences and represent two of the top three life science clusters in the world.

For more information, please contact:

KRISTEN MURPHY

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

Veteran Real Estate Developers Team Up for Upper Westside Development in Atlanta, GA

Rendering of planned 8 Westside corporate campus,
8th and Howell Mill, Atlanta, GA

Jim Meyer

 ATLANTA, GA – In an effort to meet the city’s demand for Class A creative workspace, two veteran real estate developers are joining forces to bring 8West, located at the corner of 8th and Howell Mill, to the Upper Westside.

Developers Jim Meyer of Atlantic Capital Properties and Mack Reese of Gateway Ventures envision the space to attract technology and creative companies who will thrive in authentic, walkable and amenity-rich environments just minutes from some of the city’s top restaurants, retailers and entertainment venues.

“The timing to integrate a Class A workspace component into the retail hub of the Upper Westside could not be better,” said Meyer of Atlantic Capital Properties.

“When we worked with Gateway Ventures on the development of Centergy at Tech Square in the early 2000s, we found there was demand for space from companies who wanted to be close to the Georgia Institute of Technology (Georgia Tech) for their recruiting and research needs.

Mack Reese

"As Midtown has changed and the economy evolved, we now see a similar demand for space on the Upper Westside. With 8West, we have designed a project which will appeal to creative companies and individuals who value walkability and unparalleled access to the best restaurants and entertainment venues in Atlanta – a place where people want to be.

"I’m thrilled to be working with Mack and Gateway Ventures again as we aspire to bring the same connection to the west side of Georgia Tech’s campus that we brought to the east side 17 years ago.”

For more information, please contact:

Taylor Rowden/Hilary Harmon Liz Lapidus PR 404-688-1466 Taylor@lizlapiduspr.com

Hilary@lizlapiduspr.com

HFF announces sale of one of Downtown Denver’s most prominent mixed-use towers

1600 Glenarm Place, Downtown Denver, CO

Jordan Robbins

DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of 1600 Glenarm Place, an iconic, mixed-use high-rise located on the 16^th Street Mall in downtown Denver, Colorado.

The HFF team marketed the asset exclusively on behalf of the seller, a joint venture between RedPeak Properties and Allstate Investments, and procured the buyer, Northland Investment Corporation. The tower was purchased along with a 0.77-acre land parcel for future development located at 14^th & Glenarm.

1600 Glenarm Place was originally constructed in 1967 as an office tower known as the Security Life Building and was subsequently converted in 2006 by RedPeak Properties into one of downtown Denver’s first and most prominent residential and retail mixed-use projects. 

The building comprises 333 luxury apartment units and approximately 29,000 square feet of commercial space, including premium frontage along Denver’s 16^th Street pedestrian mall. 

Jeff Haag

 The 31-story building has a WalkScore® of 96 and is within walking distance of nearly 40 million square feet of office space and two blocks of light rail access. 

The residential units average approximately 980 square feet in a range of studio, one-bedroom, two-bedroom and penthouse layouts. 

Resident amenities include an outdoor terrace with barbecue grills and fireplace, state-of-the-art fitness center with Fitness on Demand and a yoga/Pilates studio, demonstration kitchen, cyber lounge, conference room, movie theatre, game room, resident library and reading room, valet parking, 24-hour concierge service and door-to-door room service from Earl’s Restaurant on the property’s ground floor. 

The HFF investment advisory team representing the seller included managing director Jordan Robbins and directors Jeff Haag and Anna Stevens.

“1600 Glenarm is a one-of-a-kind, legacy asset within the downtown Denver market and by far one of the most recognizable assets in the area,” Robbins said. 

Anna Stevens

“RedPeak was extremely forward-looking in 2006 with its conversion from office space into a mixed-use residential and retail building, which has allowed 1600 Glenarm to maintain its prominent image within the market since its completion.”

“Northland recognized the irreplaceable nature of this asset, which marks their entry into the Denver market," Robbins continued.  “This, coupled with their ability to implement an aggressive value-add strategy, will only serve to further the property’s position within downtown.”

For more information, please contact:

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

www.allstateinvestments.com.

https://redpeak.com/.