Lakefront Land Near Baldwin Park in Orlando, FL is Prime for a New Downtown Area Infill Project

Sandy Thompson

ORLANDO --- Lakefront property off Bumby Avenue in Orlando is now being marketed to buyers, five adjoining parcels with potential as a valuable urban infill project, by Stirling International Real Estate. 

 Stirling Broker of Record Roger Soderstrom Jr. said he anticipates significant interest in the property in part because of the rising scarcity of infill sites near downtown Orlando .

Roger Soderstrom Jr.

The five parcels are individually owned but Stirling, based in Orlando ’s Thornton Park , is marketing them as a prime lakefront package deal with the option of individual parcel sales.

All are oversized lots with up to 100 feet of frontage along Lake Druid , in Audubon Park . The property is just southwest of Orlando ’s upscale Baldwin Park new urbanist community.

Stirling International agent Sandy Thompson is handling the exclusive marketing arrangement for the project. No firm sales price has been established as offers are being entertained from a range of potential buyers, including national builders and small developers as well as investors.

Skyline night view of Baldwin Park village, Orlando, FL

  “Builders could create some really nice plans for this,” Soderstrom said.

Infill projects are a favored tool of urban planners to foster wise land use in downtown areas where demand is strong and utilities and public services are available.  

Bumby Avenue is a historic north- south street that bisects downtown Orlando , just east of Orange Avenue . The street was named for a pioneering Orlando family dating back to the 1800s.

CONTACTS:

Sandy Thompson, Stirling International Real Estate,

407-810-8579 sthompson@stirlingirefl.com  

Roger Soderstrom, Jr., Broker of Record, Stirling International Real Estate, 

407-250-1000 rsoderstrom@sirefl.com

Beth Payan, Larry Vershel Communications

407-644-4142 beth@larryvershel.com .  

HFF Closes $92.5 Million Sale of Fifty Twenty-Five Student Housing Project Near San Diego State University, San Diego, CA

                                                                                                    Photo by Adrian Tiemens
Fifty Twenty-Five Student Housing Project, San Diego, CA

SAN DIEGO, CA  -– HFF announces it has closed the $92.5 million sale of Fifty Twenty-Five, a 260-unit/942-bed, Class A luxury student housing community serving San Diego State University.

Sean Deasy

HFF marketed the asset exclusively on behalf of FPA Multifamily, LLC, and procured the buyer, Denver-based Cardinal Group Investments, LLC.

Completed in 2010, Fifty Twenty-Five is a LEED Gold-certified property offering a mix of studio, two- and four-bedroom floor plans averaging 951 square feet with amenities, including flat-screen televisions, high-speed internet, modern furnishings, full-size washers and dryers, walk-in closets and fully-equipped kitchens. 

 The community also features a resort-style swimming pool, 24-hour fitness center, study rooms, 24-hour computer center, coffee bar, tanning bed, shuttle service and 598-space parking garage.  The property is situated less than one mile from campus at 5025 Collwood Boulevard.

The HFF team included senior managing director Sean Deasy, senior director Hunter Combs and director Scott Clifton.

Hunter Combs

“The institutional quality of this asset coupled with strong market fundamentals and exceptional enrollment growth at SDSU led to robust activity on Fifty Twenty-Five,” Combs said. 

 “SDSU currently receives more than 98,000 undergraduate and graduate applications per year and represents the third largest university in California, which creates a sustained demand for housing of this caliber.  

"The property’s amenity package is student-tailored and will continue to command top-tier rents in the marketplace.”

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

About FPA Multifamily, LLC

FPA Multifamily, LLC is a private equity real estate firm focused on the acquisition, renovation and management of both core plus and workforce housing apartment communities. 

Scott Clifton

 Founded in 1985, FPA has owned over 110,000 apartment units valued at over $12 billion. 

 FPA is currently investing through its value-add focused FPA Apartment Opportunity Fund VI, which will acquire approximately $1.8 billion of assets, and its core plus focused FPA Core Plus Fund IV, which will acquire approximately $1.4 billion of assets.

  Headquartered in San Francisco, FPA also has offices in Irvine, Portland, Denver, Minneapolis, Dallas and Atlanta.  

CONTACTS:

HUNTER COMBS

CA Lic. #01771662

HFF Senior Director

(858) 812-2346

hcombs@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3403

ohennessey@hfflp.com

  http://www.cardinalgroup.com

http://www.fpamf.com/.

29th Street Capital Acquires 438-Unit Limestone Apartments in West Houston, TX

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Limestone Apartments, West Houston, TX

Houston, TX – 29th Street Capital (29SC), a privately-held real estate operator, has acquired Limestone Apartments, a 1999 vintage, 438-unit multifamily community located in West Houston. 

29SC plans to implement a capital plan which will include Interior upgrades, new granite countertops, modern paint, black appliances, and new cabinets. Exterior renovations will focus on landscaping, signage and amenity improvements.

Doug Burt

“This is a newer, high-quality asset in a growing submarket,” said Doug Burt, Vice President of Acquisitions in Houston. “Limestone will benefit from the expected population growth of 9% within a five-mile radius over the next five years, and lack of new supply coming to the market.”

Houston’s Class A apartment market is now experiencing improved fundamentals after experiencing declining occupancies and increased concessions due to the development pipeline.

 The U.S. Census Bureau ranked the Houston metro area second in the U.S. for population growth in 2018. It leads the nation in employment growth.

“Houston is expected to receive its lowest number of new units in nearly a decade,” Burt added. “We feel that the market has finally leveled out allowing a clear runway over the next few years.” 

Shell Technology Center, Houston, TX

Limestone Apartments is close to the Shell Technology Center, which has approximately 2,000 scientists, technologists, engineers, consultants, sales and support personnel.

The property is about five miles south of the Houston Energy Corridor via Interstate 6. By 2030, the corridor is expected to reach 45.2 million square feet of office/mixed-use space.

This is 29th Street Capital’s second acquisition in the Houston area in the past six months and ninth in the past five years. Over the past 12 months, 29SC has also acquired 18 conventional multifamily assets throughout the U.S.  and continues to actively pursue additional opportunities. 

The transaction closed March 11. The sale price and seller were not disclosed.

CONTACT:

Terri Thornton
Partner, Thornton Communications

Phone: 404-932-4347
Email: Terri@TerriThornton.com 
Website: www.TerriThornton.com 

 https://29thstreetcapital.com.

Hold-Thyssen Negotiates Four Leases for Retail, Office, Flex Space in Apopka, FL and Southwest Orlando, FL

Alex Rowlinson

Orlando, FL -- Hold-Thyssen, Inc., a full service commercial real estate services firm, recently negotiated four lease agreements in Apopka and southwest Orlando totaling 9,029 rentable square feet.

Hold-Thyssen’s leasing team of Alex Rowlinson and Troy Stevens brokered the transactions on behalf of the south Florida investor / landlord at each location. 

Best Insurance USA, Inc. an affiliate of Florida Blue, leased 1,672 square feet at Kirkman Commerce Center , 701 S. Kirkman Rd. ;  

Amazing Grace World Missions, Inc. a local ministry, leased 1,725 square feet at Silver Star Shopping Center, 5304 Silver Star Rd.  

Mark C. Pope & Associates, a group that sells industrial cleaning equipment, leased 3,745 square feet, and Phenix Salon Suites leased 1,887 square feet at the Apopka Commerce Center , 535 Cooper Commerce Drive .

Troy Stevens

Hold-Thyssen provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  

The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States .

CONTACTS:

Anthony Fisher, 

Vice President, 

Hold-Thyssen Real Estate Services, 

407-691 0505,

 afisher@HoldThyssen.com

Robert P. Hold,

 Principal,

 Hold-Thyssen, Inc. 

407-691-0505,

 bhold@HoldThyssen.com

Larry Vershel or Beth Payan,

 Larry Vershel Communications Inc. 

407-644-4142 

Lvershelco@aol.com

HFF announces sale of Atlanta-area retail center anchored by Walmart Neighborhood Market

   

Olde Mill Plaza Retail Center, 3101 Roswell Road, Marietta, GA

ATLANTA, GA  – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the sale of Olde Mill Plaza, a 105,847-square-foot retail center anchored by a Walmart Neighborhood Market in the Atlanta-area community of Marietta, Georgia.

 

Jim Hamilton

The HFF team marketed the property on behalf of the seller, BET Investments.  Livingston Properties purchased the asset.

Anchored by a Walmart Neighborhood Market, the 91-percent-leased Olde Mill Plaza is home to a mix of restaurant, service and necessity tenants, including Just Fitness 4U, Heartland Dental, Los Acros Mexican Restaurant, European Deli, Le Nails Spa2 and K&G Tailors.  

Olde Mill Plaza is in Marietta about 18.5 miles north of downtown Atlanta in the affluent East Cobb Retail submarket.  Olde Mill Plaza is situated on 12.41 acres at 3101 Roswell Road at the intersection of Roswell Road and Old Canton Road, which have a combined traffic count of more than 70,000 vehicles per day.  

Brad Buchanan

More than 70,000 residents earning an average annual income of $133,988 live within a three-mile radius of the center, and the center has limited grocery competition within a 1.5-mile radius.  The property caters to the area's young families, as well as its maturing demographic. 

The HFF investment advisory team representing the seller included senior managing director Jim Hamilton, directors Brad Buchanan and Mike Allison and analyst Andrew Kahn.

About BET Investments

BET Investments, a Bruce Toll owned company, owns, manages, develops and leases retail complexes, apartment buildings and mixed-use projects throughout the United States.  The company’s portfolio has grown to more than five million square feet of commercial space and 4,000 apartments.

Michael Allison

About Livingston Properties

Livingston Properties owns, develops, redevelops, manages and leases shopping centers, NNN properties and office buildings throughout Georgia and South Carolina with its primary focus in the northern suburbs of Atlanta. 

 Livingston Properties is a privately held company owned by Bill Livingston based out of Warner Robins, Georgia.  

The company’s current portfolio consists of over one million square feet focusing primarily on grocery and other big box anchored or shadow centers.  

Andrew Kahn

In business for over 35 years, Livingston Properties welcomes opportunities for other acquisitions within the region.  

Visit https://livingstonproperties.net to learn more.

CONTACTS:

 

MIKE ALLISON

GA Lic. #360267

HFF Director

(404) 832-8460

mallison@hfflp.com

 

JIM HAMILTON

GA Lic. #270038

HFF Senior Managing Director

(404) 832-8460

Bill Livingston

jhamilton@hfflp.com

BRAD BUCHANAN     

GA Lic. #351151

HFF Director

(404) 832-8460

bbuchanan@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

EverWest Secures $63 Million for Refinancing of The Colonnade DFW Office Complex: Three-building, 1.07 million SF Texas Class A office asset enjoys 91.7 percent occupancy

  

The Colonnade located on 13 acres
along the Dallas North Tollway

  

ADDISON, TX – EverWest Real Estate Investors, together with Korea-based investment clients, has closed on a $63 million transaction that is part of the refinancing of The Colonnade, a 1,079,190-square-foot, three-building Class A office complex considered one of the premier developments along the Upper Tollway in the Dallas – Fort Worth metroplex.

Tom McCahill

EverWest Executive Vice President Tom McCahill, Managing Director Joe Chickey and Senior Associate for Structured Finance Zi Chong secured the five-year loan through UBS.

The property owner is Fortis Property Group. The Korea-based clients were advised by EverWest and Paramount Advisory, LLC.

“The Colonnade is a true trophy asset that has been meticulously owned and managed by an experienced institutional team,” said Chong.

“The capital improvements and leasing activity that has taken place here has established a strong leasing history, allowing The Colonnade to take full advantage of its premier location and area demographics.”

Joe Chickey

Built between 1983 and 1998 – with $32.5 million in renovations completed between 2015 and 2017 – The Colonnade totals 1,079,190 square feet with three Class A office towers, a three-story amenity-filled atrium and an eight-story parking garage.

The property also includes a variety of dining options, fitness center with locker rooms, retail store and conference center.

 It is LEED Certified, Energy Star rated and has earned multiple “Building of the Year” awards from the Building Owners and Managers Association (BOMA).

Since being acquired by Fortis in 2013, The Colonnade has remained in high occupancy with anchor tenants Hilton, United Surgical Partners, Zurich American Insurance, HQ Global Workplaces and Systemware.

Zi Chong

The Colonnade is located on 13 acres along the Dallas North Tollway, offering quick access to metro Dallas and Fort Worth. It is two blocks east of the Addison Transit Center, which will become a future station along the Cotton Belt Rail Line.

“With these collective advantages in place, it is not surprising that The Colonnade has consistently outperformed its neighboring Class A office complexes,” said McCahill. “We believe that trend will continue, and that the property will continue to hold its position as one of Dallas’ top business centers.”

EverWest launched its structured finance platform in 2013 under the direction of industry veterans McCahill and Chickey, with a focus on originating and managing mezzanine debt, preferred equity financing and B-notes for U.S. commercial properties and developments. 

EverWest continues to actively seek new investment opportunities in major markets across the U.S.

The Colonnade rendering

About EverWest Real Estate Investors LLC

EverWest Real Estate Investors LLC, a wholly owned subsidiary of GWL Realty Advisors, is a real estate investment and operating company based in Denver, Colorado.

The company’s goal is to create significant value for investors through a combination of capital appreciation, strategic acquisition, development, capitalization, repositioning and management of commercial real estate assets.

 For more information on EverWest, visit www.everwest.com.

For more information on GWL Realty Advisors, visit www.gwlra.com.

CONTACT:

Stacey Hershauer

focusAZ 

P 480.600.0195

www.focusaz.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 137 hotels wholly or through joint ventures, announced that its board of trustees has declared a monthly common share dividend of $0.11 for March 2019.

The common dividend is payable April 26, 2019, to shareholders of record on March 29, 2019.

CONTACT:

Patrick Daly

Office Manager

Daly Gray, Inc.

patrick@dalygray.com

Office:  (703) 435-6293

Cell:  (703) 300-8289

HFF arranges $91.7 million financing for Lawrence Station in Santa Clara, CA

Lawrence Station Office Building, Santa Clara, CA

SAN FRANCISCO, CA –– HFF announces that it has arranged $91.7 million in financing for the development of Lawrence Station, a five-story, Class A spec office building in Santa Clara, California.

Charles Halladay

HFF worked on behalf of the developer, Bayview Development Group, to secure the three-year construction loan through Broad Street Real Estate Credit Partners III (BSRECP III), a fund managed by the Goldman Sachs Merchant Banking Division.

Lawrence Station will consist of 173,474 rentable square feet of Class A office space along with a neighboring parking garage. 

 The project is located at 3607 Kifer Road on the corner of Lawrence Expressway, which offers unparalleled visibility between U.S. Highway 101 and State Route 82.  

The project’s Silicon Valley location positions it near numerous high-profile corporations, including Apple, Google, Microsoft and Intuitive Surgical.  Future tenants will benefit from the project’s proximity to the Lawrence Caltrain Station and expanding retail offerings in the surrounding area.  Lawrence Station is due for completion in 2020.

Brandon Roth

The HFF debt placement team representing the borrower consisted of senior managing director Charles Halladay, senior directors Brandon Roth and Ben Bullock and analyst Taylor Gimian.

“Lawrence Station is an exceptional office development site,” Roth said.  “Future tenants are going to benefit from the unique combination of being just a five-minute walk from Caltrain while remaining within the city limits of Santa Clara, which will allow them to access Silicon Valley Power so they will be able to save 35 percent on their energy costs.”

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

Ben Bullock

About Bayview Development Group

Bayview Development Group, headquartered in San Jose, California, is a privately held real estate development and investment firm focused on developing high-density, mixed-use projects in Northern California.

About The Merchant Banking Division of Goldman Sachs Group, Inc.

Founded in 1869, the Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm.  

Goldman Sachs Merchant Banking Division (MBD) is the primary center for Goldman Sachs’ long-term principal investing activity.  

With nine offices across seven countries, the Merchant Banking Division of Goldman Sachs is one of the leading private equity investors in the world with equity and credit investments across corporate, real estate and infrastructure strategies. 

Taylor Gimian

Established in 1991, the Real Estate Principal Investment Area within MBD has invested in real estate and real estate related assets totaling approximately $53 billion in equity across more than 800 investments located in 35 countries. 

 Investments include office, retail, industrial, hospitality, residential, acquiring real estate companies, real estate projects, loan portfolios, debt recapitalizations and direct property.

CONTACTS:

CHARLES HALLADAY

CA Lic. #01756300

HFF Senior Managing Director

(415) 276-6300

challaday@hfflp.com

BRANDON ROTH

CA Lic. #01767532

HFF Senior Director

(415) 276-6300

broth@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3403

ohennessey@hfflp.com