Friday, March 4, 2011
The Leadership Team consists of professionals spanning across each of HFF’s lines of business, property and product specialties and all of its offices, and it also includes a new four-person Executive Committee, which has overall responsibility for implementing the strategic direction of the firm and the Leadership Team.
The new structure of HFF’s top line leadership is intended to enable better coordination and communication within the various platforms, specialties and offices, and provide HFF with improved management capacity to further strategically grow its business as well as better identify future leaders of the business.
New leadership designations of note include Gerard Sansosti who is responsible for HFF’s overall Debt Placement line of business. In addition, as the current head of HFF’s Washington, D.C. debt practice, Sansosti, along with Steve Conley (middle left photo), is responsible for significantly growing and expanding the debt practice there.
Further notable leadership changes include Steve Henderson who is now head of HFF’s Freddie Mac relationship; Randy Baird who leads HFF’s industrial specialty efforts; Jason Nettles is an office head in Atlanta; Trey Morsbach is now an office head in Dallas; Mark Popovich is an office head in Pittsburgh; and Doug Bond helps lead the firm’s Los Angeles office.
A list of professionals and areas of responsibility within the new Leadership Team is below:
Line of Business Leadership
Debt Placement & Structured Finance, Gerard Sansosti
Investment Sales, Mark Gibson
Loan Sales, Jody Thornton
HFF Securities, Investment Banking, Mark Gibson
Corporate Consulting, John Pelusi
Loan Servicing, David Croskery
Office Location Leadership
Atlanta, Jason Nettles & Mark Sixour
Austin, Sean Sorrell & Jody Thornton
Boston, Riaz Cassum & Fred Wittmann
Chicago, Mike Kavanau & Matthew Lawton
Dallas, Andrew Levy & Trey Morsbach
Hartford, Dana Brome
Houston, Scott Galloway & Grady Roberts
Indianapolis, Dave Keller
Los Angeles, Paul Brindley, Doug Bond & Dan Cashdan
Miami, Manny de Zarraga
New Jersey, Tom Didio & Jon Mikula
New York, Mike Tepedino
Orange County, Don Curtis, Sean Deasy & Ryan Gallagher
Pittsburgh, Dave Nackoul & Mark Popovich
Portland, Lloyd Minten
San Diego, Tim Wright
San Francisco, Bruce Ganong & Michael Leggett
Washington D.C,. Stephen Conley & Gerard Sansosti
Property Specialty Leadership
Office, Stephen Conley
Retail, John Pelusi
Multi-Housing, Sean Deasy & Matthew Lawton
Industrial, Randy Baird
Hospitality, Daniel Peek
Self-Storage, Aaron Swerdlin
Net Lease, Mark West
Special Assets Group, Manny de Zarraga
Foreign Capital, Riaz Cassum
Freddie Mac, Steve Henderson
Executive Committee, Mark Gibson, John Pelusi, Jody Thornton & John Fowler
John H. Pelusi Jr., (top right photo) Chief Executive Officer, (412) 281-8714, email@example.com
Myra F. Moren, Director, Investor Relations , (713) 852-3500,
CHICAGO, IL - As spring approaches economic recovery is delicate, but more encouraging signs are surfacing within specific realty product sectors and markets demonstrating job growth, according to the Real Estate Capital Institute.
For example, many warehouse markets enjoy higher occupancies as global trade rebounds. In addition, consumers are renewing spending, helping to ease oversupply concerns in the retail sector.
Of course, problems in the housing sector continue to translate to higher profits in most multifamily markets.
The Middle East tensions are favorably influencing lower mortgage interest
rates. During February declining treasury yields combined with compressing
mortgage spreads helped interest rates stay in the 4.5%-to-6% range for many
types of fixed-rate, longer-term loans.
Important trends changing the commercial property financing landscape
* Economic Outlook: The usual leader in economic recovery, the
housing industry remains depressed. Housing starts are nearly at a
standstill. Yet the economy is rebounding at a modest tempo with overall
growth pegged at about three percent. Such a pace is still below historical
rebounds following severe recessions. Nonetheless, the unemployment rate is
expected to dip below nine percent - still a favorable statistic for overall
income-realty markets. Also on the inflation front, increases are minimal
as economic recovery moves at a slow pace, benchmarked below two percent.
* Low Rates: In the short term, the Fed's active monetary decisions
are preserving rates at historically insignificant levels. However,
investors are nervous about longer-term consequences including global growth
and fiscal spending. If overall mortgage rates remain in the
mid-single-digit range, realty values will remain at healthier levels,
otherwise higher rates will lead to more valuation pressures.
* Demand for Quality: During the past three quarters, further
consolidation occurring as commercial realty markets bask in the abundant
supply of attractively priced debt capital. Although more equity is
required [and readily available, universal investor demand is unabated for
quality, income-producing properties. Second-tier assets continue to suffer
and a wide pricing differential exists between various quality classes.
* Restrictive underwriting: As Wall Street revives the CMBS platform,
mortgage delinquency rates reach new highs, hovering just below ten percent.
New loan origination underwriting is now more restrictive due to lingering
legacy issues. As a result, life companies, and other lenders void of major
legacy loans, are more competitive in this funding arena. In addition,
while pricing is relatively attractive, the net result across the board for
newly originated loans includes more restrictive covenants, mandatory
collection of reserves and escrows and loan covenants. Investors demand
adequate protections and want reduced risks in the event problems emerge.
The Real Estate Capital Institute's Jeanne Peck (top right photo), emphasizes, "Conditions are improving and optimism is in the air. New construction should selectively rebound as demand is unabated for high-quality, urban infill properties."
The Real Estate Capital Institute(r) is a volunteer-based research organization that tracks realty rates data for debt and equity yields. The Institute posts daily and historical benchmark rates including treasuries, bank prime and LIBOR.
Furthermore, call the Real Estate Capital RateLine at 7RE-CAPITAL (773-227-4825) for hourly rate updates.
The Real Estate Capital Institute(r)
3517 West Arthington Street
Chicago, Illinois USA 60624
Contact: Jeanne Peck, Research Director
Toll Free 800-994-RECI (7324)
WAXAHACHIE, TX, Mar. 4, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of Waxahachie Crossing (top left photo), a 96,983-square foot shopping center in Waxahachie. The sales price of $15,500,000 represents $159 per square foot.
Craig Fuller and Scott Wiles in Marcus & Millichap’s Cleveland office, along with Erin Patton in the firm’s Columbus office, brokered this transaction. Jason Vitorino in the firm’s Dallas office, also provided representation.
“Waxahachie Crossing is a high-quality core asset located in a growing area with a strong tenant base,” says Fuller. “The property was a great fit for the buyer’s current acquisition strategy.”
Built in 2009, the property is located near U.S. Route 287 and U.S. Route 77 in Waxahachie, Texas.
Waxahachie Crossing is anchored by Best Buy, Ross and PetSmart. Shadow anchors include JCPenney and Home Depot. Wal-Mart, Target, Lowe’s and Belk and various national restaurants are located within the area.
The center’s tenants have triple-net leases and pay their own taxes, insurance and common area maintenance. Anchor tenants have recent 10-year leases. Shop tenants are on five-year original term leases.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
“This cap rate is one of the most aggressive I have seen in recent years,” says Duff. “We are seeing similar activity on comparable properties we are currently marketing and continue to see investors who are first time net lease investors enter the marketplace.”
Duff went on to say that the buyer was looking for a passive, investment grade, net-lease property in the United States. There were multiple offers on the property and the buyer performed a five day due diligence period and closed seven days thereafter in order to win the deal.
The property is situated within the Victoria Commons master-planned project, on Foothill Boulevard, the primary retail corridor for the Rancho Cucamonga trade area. It is located adjacent to national restaurants and hotels.
Located less that 1/8 of a mile from the subject property is Victoria Gardens Regional Town Center. Victoria Gardens (bottom right photo) is one of Southern California’s premier shopping, dining and entertainment destinations with over 150 specialty stores, restaurants, AMC Theatres (12 screens), the Victoria Gardens Cultural Center; and Bass Pro Shops Outdoor World (a 180,000 square foot sportsman’s paradise).
Contact: David Ebeling, Ebeling Communications, (949) 278-7851 firstname.lastname@example.org
The leases signed include:
· APEX signed a five-year lease for 3,530 square feet of space. APEX was represented by Gary Horwitz of Jones Lang LaSalle.
· Oppenheimer & Co. signed a five-year lease for 3,039 square feet of space. The company is relocating its regional office from another building in Manhattan Beach. Oppenheimer & Co. represented itself in the transaction.
· Spolin Silverman Cohen & Bosserman signed a five-year lease for 2,061 square feet of space. The law firm is moving from Santa Monica. Spolin, Silverman & Cohen was represented by John Ottinger of Tenant Advisors Corp.
Edward S. Jones signed a three-year lease renewal for approximately 1,000 square feet of space. Edward S. Jones represented itself in the transaction.
“Manhattan Towers is ideally suited for companies that desire premier office space ranging from 1,000 square feet up to 150,000 square feet in an ideal location with abundant nearby amenities,” said Strickfaden.
For further information, please visit our website, http://www.joneslanglasalle.com/
Contact: David Ebeling, Phone: +1 949 278 7851