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Tuesday, April 9, 2019
Arbor Realty Trust Funds Freddie Mac SBL deal in Capitol Heights, MD.
Cerami Integrates Acoustical Engineering into Future Design of Commercial Buildings
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| Victoria Cerami |
Hudson Yards built its platform and three residential towers over 30 active railroad tracks. MCR and Morse Development are about to open the TWA Hotel in a JFK airport terminal and predicting it will be one of the world’s quietest hotels.
When the Four Seasons Restaurant moved to its new location directly above the Metro North train station, a sound-engineered walkway was created to produce an aural experience that put the sounds of the seasons into the Four Seasons.
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| Hudson Yards, Manhattan, NY |
As buildings are being
designed, Cerami Associates’ team of experts rely on their acoustical engineering
expertise to help navigate the design process to create environments that
encompass the full spectrum of sensory engagement.
The elements of acoustical design play a critical role in the overall functionality of a space, and ultimately impact the experience of its users. Cerami combines the science of sound into the art of design from the perspective of the occupant. In other words, they have a holistic approach to design that starts with people – an inside out approach opposed to outside in.
The elements of acoustical design play a critical role in the overall functionality of a space, and ultimately impact the experience of its users. Cerami combines the science of sound into the art of design from the perspective of the occupant. In other words, they have a holistic approach to design that starts with people – an inside out approach opposed to outside in.
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| TWA Hotel, JFK Airport Terminal New York, NY |
“The Cerami approach is based on fundamental design principles, while keeping pace with unbounded technology to optimize the space for its intended use.”
In an office space, a successful design means that an employee cannot understand the conversation in the office next door, ensuring speech privacy.
In a hospital setting, a successful design means that the integrity of an MRI scan is not compromised by a trembling floor caused by doctors walking through the halls.
In a lecture hall, a successful design means that the professor’s voice can be heard as clearly by the students in the last row of seats as the students in the first row of seats, promoting speech intelligibility.
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| Four Seasons Restaurant, New York, NY |
Noise and vibration can have a
negative impact on people and must be controlled and monitored in order to
produce more beneficial and productive working and living
environments.
Noise is a serious problem
and one that can literally make you sick. According to the World Health
Organization (WHO), noise is the second largest environmental cause of health
problems, just after the impact of air quality.
Cerami Associates, the largest
women-owned acoustics and technology consultancy in the U.S., provides
expert services in integrated Acoustic and Vibration Design; Audio Visual;
Technology and Security; and Site Assessments utilized in creating
optimized spaces conducive to evolving workplace, residential, medical,
hospitality, leisure and learning environments.
For more information, please visit www.ceramiassociates.com.
CONTACT:
Jill Cohen
Cathy Callegari Public Relations Inc.
212 721 4720
cell 201 615 9036
Theresa Johnson Joins The Dowd Cos. as Partner
After four successful years at Avison Young I am happy to announce my new position as Partner at:
The Dowd Companies
In this new position I will be continuing my focus on Commercial Real Estate Investment Sales, Consulting and Development.
My experience over the past 19 years includes the disposition of all asset classes with a concentration in the retail sector including multi-asset portfolios, anchored shopping centers, power centers, malls, NNN assets, CBD office buildings and large development land parcels. In addition, I have successfully worked with special servicers on the disposition of distressed assets with involvement in over $1 billion in commercial real estate transactions.
I enjoy a strong network of professional relationships that extend nationwide to include the top private and institutional clients and look forward to assisting owners in the successful acquisition and disposition of a wide range of properties.
The companies combined experience encompasses involvement in over 5.2 million square feet of ground up development and over $2 billion in investment sales.
I look forward to bringing this experience to our clients to assist you in accomplishing your commercial real estate objectives.
Please let me know how I may be of service to you with any Commercial Real Estate Brokerage, Investment, Development, or Consulting needs.
If you would like some more information on my background and experience, please contact me or visit our website where you can learn more about the firm.
CONTACT:
Theresa Johnson
Partner The Dowd Companies
770-329-9330
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HFF closes sale and arranges financing for 3-property office portfolio adjacent to Houston’s Tanglewood and Memorial Villages neighborhoods
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| 7500 San Felipe, Houston, TX |
HOUSTON, TX –– HFF announces that it has closed the sale of a three-property office portfolio totaling 544,291 square feet in an urban infill location adjacent to some of Houston’s most prestigious residential neighborhoods, including Tanglewood and Memorial Villages.
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| 7500 San Felipe front view |
HFF marketed the property on behalf of the seller, a partnership led by Unilev Capital Corporation, and procured the buyer, CapRidge Partners, LLC.
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| Craig McKenna |
The portfolio comprises 1616 Voss, 7500 San Felipe and 6363 Woodway, which are positioned west of Houston’s Galleria area.
The three assets are walkable to an abundance of retail amenities, including Whole Foods, Kroger, Trader Joes and numerous dining options.
Additionally, the portfolio is proximate to Houston Country Club, one of Houston’s oldest and most prestigious country clubs.
Additionally, the portfolio is proximate to Houston Country Club, one of Houston’s oldest and most prestigious country clubs.
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| Matthew Asvestas |
The portfolio will be leased by Craig McKenna and Matthew Asvestas with Stream Realty Partners.
Dan Terpening, director at CapRidge Partners, said, “We are excited to expand CapRidge Partners’ presence in the dynamic Houston market. The portfolio provides a great opportunity to add value by utilizing our disciplined investment experience and operational excellence.”
The HFF investment advisory team representing the seller included senior managing director H. Dan Miller, senior director Martin Hogan and analyst Johnny Kight.
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| Dan Terpening |
Holliday GP Corp. ("HFF") is a Texas licensed real estate broker.
About Unilev Capital Corporation
Unilev Capital Corporation is a privately held real estate investment organization that also invests with a select, limited group of private and institutional partners to acquire well-located, income-producing commercial properties with both a short-term opportunistic strategy and a long-term, low-risk investment horizon.
Unilev’s Houston portfolio includes Galleria Towers I and II, Galleria Financial Center, One and Three Riverway and other office and retail properties.
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| Jim Curtin |
About CapRidge Partners
CapRidge Partners is a fully integrated investment management and operating company focused on value-add office properties in nine select U.S. markets, including Houston.
Their strategy is to acquire well-located assets, below replacement cost, that offer opportunities to add value by providing proactive management, delivering enhanced customer service and wellness amenities, leasing to stabilized occupancies, marking-to-market expiring leases, and completing capital projects. Since 2012, CapRidge has purchased 33 office buildings.
About New York Life Real Estate Investors
New York Life Real Estate Investors is a division of NYL Investors LLC, a wholly-owned subsidiary of New York Life Insurance Company. Please visit New York Life Real Estate Investors’ website at http://www.newyorklife.com/realestateinvestors for more information.
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| Andy Scott |
CONTACTS:
H. DAN MILLER, CCIM, SIOR
TX Lic. #0289851
HFF Senior Managing Director
(713) 852-3500
JIM CURTIN
HFF Managing Director
(214) 265-0880
OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3403
ALLISON SCOTT
New York Life Insurance Company
212-576-4517
allison_scott@nylim.com
HFF announces $10.375 million financing for office and parking portfolio in Cleveland, OH
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| Mark Katz |
HFF worked on
behalf of the borrower, Somera Road Inc., to secure the three-year,
floating-rate acquisition bridge loan. The property was acquired by
Somera Road Inc. in an off market transaction.
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| Leon McBroom |
In
addition to funding the acquisition, loan proceeds will be used to renovate and
reposition the property to modern, creative office space with a new lobby and
roof deck overlooking Progressive Field.
The office
building, which is located at 1020 Bolivar Road, was formerly leased by an Ohio employment agency on a
long-term basis.
Originally constructed in 1919,
1020 Bolivar Road also has 85 parking stalls on the ground level.
The
structured parking component includes 1060 Bolivar Road, a three-story parking
garage with 208 stalls, and 1124 Bolivar Road, a single-story parking garage
with 75 spaces.
The portfolio’s 368 parking
stalls are utilized around the clock given the proximity to Progressive Field
(one block southwest), Quicken Loans Arena (five blocks southwest) and numerous
nearby restaurant and entertainment destinations in the Cleveland CBD.
The HFF debt
placement team representing the borrower included senior managing director Mark
Katz and director Leon McBroom.
CONTACTS:
MARK KATZ
HFF Senior Managing Director
(303) 515-8000
LEON MCBROOM
HFF Director
(303) 515-8000
OLIVIA
HENNESSEY
HFF Public Relations
Specialist
(713) 852-3403
Monday, April 8, 2019
ATTOM Data Solutions Finds U.S. Property Taxes Levied on Single-Family Homes in 2018 Increased 4 Percent to More than $304 Billion
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| Todd Teta |
IRVINE, CA — ATTOM Data Solutions, curator of the nation’s
premier property database and first property data provider of
Data-as-a-Service (DaaS), released its 2018 property tax analysis for more than
87 million U.S. single family homes, which shows that property taxes levied on
single family homes in 2018 totaled $304.6 billion, up 4 percent from $293.4
billion in 2017 and an average of $3,498 per home — an effective tax rate of
1.16 percent.
The average property taxes of $3,498 for a single-family
home in 2018 was up 3 percent from the average property tax of $3,399 in 2017,
and the effective property tax rate of 1.16 percent in 2018 was down from the
effective property tax rate of 1.17 percent in 2017.
The report analyzed property tax data collected from county
tax assessor offices nationwide at the state, metro and county levels along
with estimated market values of single family homes calculated using an
automated valuation model (AVM).
The effective tax rate was the average annual property tax
expressed as a percentage of the average estimated market value of homes in
each geographic area.
“Property taxes levied on homeowners rose again in 2018
across most of the country,” said Todd Teta, chief product officer for
ATTOM Data Solutions.
“While many states
across the country have imposed caps on how much taxes can go up, which
probably contributed to a slower increase in 2018 versus 2017.
"There are still many factors at play that can
contribute to local property tax hikes, and without major changes in the way a
community runs public services, tax rates must rise to pay for them."
New Jersey, Illinois, Texas, Vermont, Connecticut post
highest property tax rates
States with the highest effective property tax rates were
New Jersey (2.25 percent), Illinois (2.22 percent), Texas (2.18 percent),
Vermont (2.16 percent), and Connecticut (2.02 percent).
Other states in the top 10 for highest effective property
tax rates were New Hampshire (1.99 percent), New York (1.86 percent),
Pennsylvania (1.79 percent), Ohio (1.69 percent), and Wisconsin (1.58 percent).
Among 219 metropolitan statistical areas analyzed in the
report with a population of at least 200,000, those with the highest effective
property tax rates were Binghamton, New York (3.19 percent); Syracuse, New York
(2.89 percent); Rochester, New York (2.88 percent); Rockford, Illinois (2.83
percent); and Atlantic City, New Jersey (2.74 percent).
Property taxes increase faster than national average in
58 percent of markets
Out of the 219 metropolitan statistical areas analyzed in
the report, 120 (55 percent) posted an increase in average property taxes above
the national average of 3 percent, including Los Angeles (5 percent increase),
Dallas-Fort Worth (8 percent increase), Washington D.C. (4 percent increase),
Atlanta (7 percent increase), and San Francisco (7 percent increase).
Other major markets posting an increase in average property
taxes that was above the national average were Riverside-San Bernardino (up 5
percent), Seattle (up 14 percent), Minneapolis (up 6 percent), San Diego (up 5
percent), and Tampa (up 4 percent).
Hawaii, Alabama, Colorado, Nevada, Utah post lowest
property tax rates
States with the lowest effective property tax rates were
Hawaii (0.37 percent), Alabama (0.48 percent), Colorado (0.51 percent), Nevada
(0.57 percent), and Utah (0.57 percent).
Other states in the top 10 for lowest effective property tax
rates were West Virginia (0.58 percent), Delaware (0.61 percent), Arizona (0.64
percent), Tennessee (0.65 percent), and Wyoming (0.66 percent).
Among the 219 metro areas analyzed for the report, those
with the lowest effective property tax rates were Laredo, Texas (0.35 percent);
Honolulu (0.36 percent); Montgomery, Alabama (0.37 percent); Tuscaloosa,
Alabama (0.39 percent); and Colorado Springs, Colorado (0.42 percent).
9 counties with average annual property taxes of more
than $10,000
Among 1,408 U.S. counties with at least 10,000 single family
homes, those with the highest average property taxes on single-family homes
were largely located in the greater New York metro area, led by Westchester
County, New York ($17,392); Rockland County, New York ($12,925); Marin County,
California ($12,242); Essex County, New Jersey ($12,161); and Bergen County,
New Jersey ($11,771).
CONTACTS:
Christine Stricker
949.748.8428
Data and Report Licensing:
949.502.8313
Levin Johnston Directs $10 Million Sale of Upgraded 35-Unit Multifamily Community in San Jose, CA
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| Delano Apartments, 272-280 La Pala Drive, San Jose, CA |
SAN JOSE, CA, (April 8, 2019) – Levin
Johnston of Marcus and Millichap, one of the top multifamily
brokerage teams in the U.S. specializing in wealth management through
commercial real estate investments, has directed the $10 million sale of Delano
Apartments, a fully upgraded 35-unit multifamily community in San Jose,
California.
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| Adam Levin |
Senior Managing Directors Adam Levin and Robert Johnston
represented the seller, a private high net worth investor, in the transaction.
“We immediately recognized the appeal of this asset, based on its
favorable location and extensive capital improvements,” says Johnston.
“At this point in the cycle, many private investors are
seeking boutique-sized apartment communities that have been recently renovated.
These assets can be held for the long term as cash-flow investments.
"We understood the ‘sweet spot’ this property was in
for many investors and drew upon our local relationships to identify a pool of
buyers, ultimately achieving a strong sale price for our Client.”
The property is located in the heart of Silicon Valley in
close proximity to I-680 and I-101, providing direct access to all major Bay
Area destinations.
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| Robert Johnston |
“San Jose is widely recognized as ‘The Capital of Silicon Valley,’ with
tech employers such as eBay, Apple, Yahoo!, Google and Facebook headquartered
here,” Levin explains.
“The job market in the Bay Area is expected to grow two
percent this year and one percent in 2020. As this economic growth continues,
the buyer of this property will benefit from continued renter demand throughout
the region.”
Situated on 0.84 acres, Delano Apartments was built in 1960 and offers an
attractive mix of one- and two-bedroom floor plans.
The property features a
community swimming pool, on-site leasing office, coin-operated laundry facility
and secured gated perimeter with security cameras.
The newly renovated units offer renters granite countertops,
engineered hardwood flooring, stainless steel appliances, and modern light
fixtures.
Located at 272-280 La Pala Drive in San Jose, California, the property is
in close proximity to major employers, transportation corridors, shopping,
dining and entertainment options.
CONTACTS:
Alex Caswell / Jenn Quader
Brower Group
(949) 438-6262
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