Tuesday, May 24, 2011

Grubb & Ellis Company’s Ernest L. Brown IV Elected to CCIM Institute’s Board of Directors

 SAN ANTONIO, TX (May 24, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Ernest L. Brown IV, CCIM (top right photo), executive vice president and managing director of the company’s San Antonio office, has been elected to the board of directors of the CCIM Institute, a global leader in commercial and investment real estate education and services.

 Brown was one of 18 Certified Commercial Investment Members elected to the board responsible for voting on policy, procedural and financial issues pertaining to the organization, its membership and educational programs.  He will serve a three-year term beginning January 2012. 

 Brown has more than 27 years of commercial real estate experience and as managing director, oversees roughly 30 employees.  He is the director of the Austin/San Antonio regional chapter of NAIOP, serves on the board of trustees of the Texas Military Institute and is president of the Texas Military Institute Alumni Association.  Brown holds a bachelor’s degree from the University of the South.

Contact: Julia McCartney, Phone: 714.975.2230                                     

HFF closes sale of and arranges financing for office building in northwest Houston


HOUSTON, TX – HFF announced today that it has closed the sale of and arranged financing for 4600 Highway 6 North (top left photo), a three-story, 53,037-square-foot office building in northwest Houston.

HFF marketed the property on behalf of the seller, the Brookfield Real Estate Opportunity Fund, a division of Brookfield Asset Management. 

Rockwell Management Corporation represented the buyer in the purchase of 4600 Highway 6 North for an undisclosed amount.  HFF arranged the acquisition financing through ViewPoint Bank. 

Renovated in 2007-2008, 4600 Highway 6 North is 82 percent leased to tenants including JPMorgan Chase and the Attorney General’s Office.  The property is located between Interstate 10 and Highway 290 on State Highway 6 in west Houston.

Brookfield Asset Management Inc., focused on property, renewable power and infrastructure assets, has more than $100 billion of assets under management and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM and on NYSE Euronext under the symbol BAMA. www.brookfield.com.

Rockwell is a full-service management firm that provides services in due diligence, construction, renovation, marketing, bookkeeping, property and asset management.

The HFF investment sales team representing the seller was led by senior managing director Dan Miller (lower  right photo) and associate director Trent Agnew.  The HFF debt team was led by associate director Colby Mueck.

H. Dan Miller, CCIM, SIOR, HFF Senior Managing Director, (713) 852-3500,    M. Colby Mueck, HFF Associate Director, (713) 852-3500, cmueck@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500

HFF arranges refinancing for multi-housing community in Houston’s Galleria area

 HOUSTON, TX – HFF announced today that it has arranged refinancing for Tree Tops at Post Oak (top left photo), a 112-unit multi-housing community in Houston’s Galleria area.

Working exclusively on behalf of Venterra Realty, HFF placed the seven-year, 3.90 percent adjustable-rate loan with Freddie Mac (Federal Home Loan Mortgage Corporation).  HFF will service the loan through its Freddie Mac Program Plus® Seller/Servicer program.

Located at 4510 Briar Hollow Place inside the 610 Loop, Tree Tops at Post Oak is close to the Houston Galleria, Uptown Park and Highland Village.

 The property has two three-story buildings with one- and two-bedroom units averaging 741 square feet each.  Residents have access to a swimming pool and fitness center as well as reserved and covered parking.  Tree Tops at Post Oak is 95 percent leased.

The HFF team that represented Venterra Realty was led by director Cortney Cole (lower right photo).

Venterra specializes in the identification, finance, acquisition and management of multi-family residential communities in the southern United States.  Venterra currently manages a portfolio of multi-family real estate assets totaling over $600 million in value that generates gross annual income in excess of $80 million. 

The organization has completed in excess of $1.3 billion of real estate transactions.  Venterra has offices in both Houston and Toronto and employs over 350 people.

Cortney R. Cole, HFF Director,  (713) 852-3500, ccole@hfflp.com
 Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500

HFF Washington, D.C. hires Susan Carras as senior managing director

WASHINGTON, D.C. – HFF announced today that Susan Carras (top right photo) has joined the firm as a senior managing director in its Washington, D.C. office.

Ms. Carras will be in charge of the local debt placement team and will co-head the Washington, D.C. office alongside Stephen Conley. 

She has more than 30 years of experience in commercial real estate. Prior to joining HFF, Ms. Carras was a senior managing director in Cushman & Wakefield Sonnenblick Goldman’s Capital Markets Group.

  Prior to that, she worked at StonebridgeCarras, Sonnenblick-Goldman and First National Bank of Chicago. 

Ms. Carras began her career at Chase Manhattan Bank where she was a lending officer in the real estate finance division.  She graduated magna cum laude from Lafayette College and is involved with Urban Land Institute, Greater Washington Commercial Association of Realtors and the Board of Trustees for Lafayette College and McLean School of Maryland.

“HFF is honored to have an experienced professional such as Susan join our team.  As co-head, she will play an integral role in the day-to-day operations of the D.C. office and be instrumental in securing new business and closing debt and structured finance transactions,” said Stephen Conley (lower left photo), co-head and executive managing director in HFF’s Washington, D.C. office.

Stephen C. Conley, HFF Executive Managing Director,  (202) 533-2500                                                                                                                      
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500                    

HFF closes sale of and arranges financing for One and Two Park Ten Place in Houston’s Energy Corridor


HOUSTON, TX – HFF announced today that it has closed the sale of and arranged financing for One and Two Park Ten Place (top left photo), two office buildings totaling 91,166 square feet in Houston’s Energy Corridor.

The HFF investment sales team marketed the property on behalf of the seller, KBS Realty Advisors.  A Miami-based investor purchased One and Two Park Ten Place for an undisclosed amount. 

HFF arranged the fixed-rate acquisition financing on behalf of the buyer through Morgan Stanley Mortgage Capital, Inc.

One and Two Park Ten Place are located at 16300 and 16365 Park Ten Place Drive at the northwest corner of Interstate 10 and Park Row in west Houston.  The properties are 92 percent leased overall to tenants including Ensco.

The HFF investment sales team representing KBS Realty Advisors was led by senior managing director Dan Miller and associate director Martin Hogan. 

HFF senior managing director Susan Hill arranged the financing on behalf of the buyer.

KBS Realty Advisors, an SEC-registered investment advisor, and its affiliate, KBS Capital Advisors, are one of the nation's largest buyers of commercial real estate and structured debt investments, having consummated more than $16.5 billion in transactional volume.

H. Dan Milller, CCIM, SIOR, HFF Senior Managing Director, (713) 852-3500, Susan L. Hill, HFF Senior Managing Director, (713) 852 3500
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,

HFF Atlanta hires Andrew Seng as managing director in debt placement group


ATLANTA, GA – HFF announced today that Andrew Seng (top right photo) has joined the firm as a managing director in its Atlanta office. 

Mr. Seng will focus on debt and structured finance transactions for all property types throughout the southeastern United States.  

Prior to joining HFF, Mr. Seng was an executive vice president with First Fidelity Companies where he was involved in securing more than $1.6 billion in debt and equity investments for real estate projects across North America. 

Prior to First Fidelity Companies, he worked as an investment analyst with the University of Notre Dame Investment Office and an investment associate with Putnam Investments.

 Mr. Seng is a Chartered Financial Analyst, a member of the CFA Institute and CFA Society of Atlanta, and currently serves as vice-chair for membership of the urban development mixed-use council for Urban Land.

 Mr. Seng received his Master of Business Administration degree from Goizueta Business School at Emory University and his Bachelors of Business Administration degree from the University of Notre Dame.

“Andrew is a welcome addition to the Atlanta team and brings with him a wealth of experience in various types of financings across all major property types,” said Mark Sixou (lower left photo)r, senior managing director of HFF Atlanta.

Mark D. Sixour, HFF Senior Managing Director, (404) 832-8460 msixour@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing,  (713) 852-3500                      

Marcus & Millichap Capital Corp. Closes $7.5 Million Multifamily Refinancing Loan in New Jersey


SOMERS POINT, N.J., May 24, 2011 – Marcus & Millichap Capital Corporation (MMCC) has secured a $7,500,000 refinancing loan for a 214-unit multifamily property in Somers Point, N.J, according to Michael J. Fasano (top right photo), vice president and regional manager of the firm’s New Jersey office.

Joshua Lipsey (middle left photo), an associate director in MMCC’s New Jersey office, delivered the financing for the loan.

“MMCC delivered a rate that was well below agency pricing,” says Lipsey. “We were able to craft the terms of the transaction in order to meet our client’s needs.

"This included working with the bank to allow the borrower to pay down a portion of the principal each year without penalty. We were also able to lock the interest rate at application for an extended period of time in order to help our client avoid defeasance costs on the existing debt,” adds Lipsey.

“When state registration issuance delays threatened to derail the closing, we were able to coordinate the re-inspection with the New Jersey Department of Community Affairs to complete their review, abatement and the issuance of a new five-year registration,” continues Lipsey.

 “When the property condition report raised potential issues, our team, in collaboration with the bank, was able to remove a significant property improvement reserve. With the support and hands-on engagement of the client, all repairs and improvements were completed within 30 days at a fraction of the potential contemplated reserve,” Lipsey goes on.

“When clients come to MMCC, they want to know that we will take all the necessary steps to get to the closing table,” concludes Lipsey.

“This transaction is another example of our commitment to meeting that expectation and of the value-added services we provide in the execution of acquisition and refinancing for our clients.”

The loan is for 10 years with a fixed interest rate, amortized over 30 years and nonrecourse.

 Press Contact: Stacey Corso, Marcus & Millichap Capital Corporation
(925) 953-1716

OliverMcMillan Rebrands 8-Acre Buckhead Development

LAS VEGAS, (May 23, 2011) – OliverMcMillan, a San Diego-based real estate firm that develops urban and mixed-use retail, entertainment and residential projects, unveiled today new renderings, a new architectural model and a new name for Buckhead Atlanta, a six-block, eight-acre luxury mixed-use urban village located in the heart of Atlanta’s upscale Buckhead neighborhood.

The announcement was made at he International Council of Shopping Centers’ annual RECon show in Las Vegas.

Formerly known as The Streets of Buckhead (top left photo), the project was one of the highest profile developments in the country halted by the economic downturn and financing drought. The new name signifies a departure from the concept of a single destination development and a move toward a mixed-use community that will fit seamlessly within the existing Buckhead Village. Buckhead Atlanta will provide a foundation that encourages the natural evolution of the surrounding community.

“Buckhead Atlanta will be woven into the fabric of this world-class community,” said Morgan Dene Oliver, chief executive officer of OliverMcMillan. “Anyone who visits Buckhead Atlanta will know they are someplace special and they will want to return often.”

Contacts: Bryan Long, 404-724-2501, blong@jacksonspalding.com

Arizona’s Only Beachfront Resort to Mark Memorial Day Weekend with Opening of State’s Largest Infinity Pool

 LAKE HAVASU CITY, AZ —Nautical Beachfront Resort (top left photo), Arizona’s only beachfront resort hotel, will open the state’s largest infinity pool, “WET,” Friday May 27, just in time for the Memorial Day Weekend.

 In honor of the occasion and to kick off the holiday weekend, members of the city’s VFW Post 9401 have been invited to be the first residents to get WET at 4 p.m.

“We like to have fun at Nautical Beachfront Resort, but we’re also mindful that Memorial Day is a meaningful holiday,” said Tim Peters, general manager.  “So, we wanted to honor our local veterans by inviting them to christen our pool.  American soldiers are often the first to respond in times of crisis, this time they can be the first ones in on the fun.”

WET, a free-form pool roughly the size of a stadium Jumbotron and filled with 108,000 gallons of water, is part of the first wave of property enhancements planned by the resort’s owners, RW Partners LLC of Phoenix.  A new arrival center, scheduled to open later this summer, is also under way. 

Media Contact:  Lauralee Dobbins/Chris Daly, 703-435-6293,

Grubb & Ellis Facilitates 60,000-SF Office Lease Renewal in Clearwater, FL

 TAMPA, FL– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm,  announced that it represented Meridian Development Group in CCS Medical Inc.’s 60,000-square-foot office lease renewal at Meridian Concourse Center (top left photo), located at 4800 140th Ave. N in Clearwater.

 James Moler (middle right photo), CCIM, and Paula Buffa (lower left photo), RPA, CCIM, both senior vice presidents with Grubb & Ellis’ Office Group, exclusively represented the landlord in the transaction.  Brent Miller with Jones Lang LaSalle represented the tenant.

 “CCS Medical evaluated numerous options in the market for the consolidation of their operations,” said Moler.  “Our building was looked at very favorably due to the overall quality of the asset, the responsiveness of property management and the long-standing relationship between the owner and the tenant.”

 “We put a lot of resources into the development and management of our properties,” said Steven Kossoff, managing director, Meridian Development Group, “but our tenant relationships are just as important.  Flexibility and attention have been cornerstones for us since we began and have helped us make it through this tough market.”

 Meridian Development Group owns and manages 1.5 million square feet of Class A and B office, flex and industrial assets located across west-central Florida. 

Meridian Concourse Center is comprised of four buildings totaling 214,000 square feet.  4800 140th Avenue totals 60,000 square feet; all of which CCS Medical currently occupies.  The property’s central Tampa Bay location provides convenient access to both Pinellas and Hillsborough Counties and is adjacent to the St. Petersburg/Clearwater Airport.


For more information, contact

 Moler at 813.830.7963 or james.moler@grubb-ellis.com
 or Buffa at 813.830.7887 or
Rachel Andreozzi, Phone: 561.893.6296, rachel.andreozzi@grubb-ellis.com

NAI Realvest Extends Hudson Restaurant Property Online Auction to June 8

ORLANDO, FL --- Paul P. Partyka (top right photo), managing partner at NAI Realvest in Maitland, is going online to sell a 9,367 square foot restaurant building on a 2.8 acre site in Hudson to the highest bidder on June 8.

Partyka said the facility, located on S.R. 52 in Hudson between U.S. 19 and County Road 1, is well located on a busy thoroughfare, posts daily traffic counts that range between 30,000 and 63,000, surrounded by residential neighborhoods.

“It’s an excellent opportunity for development as a restaurant or for redevelopment with another use,” Partyka said.

Buyers of mid-range commercial facilities don’t often tour Hudson looking for opportunities.

“The online auction format offers us an excellent opportunity,” Partyka said. “We can present to a worldwide audience of potential bidders who are more interested in the facts---demographics, location, facility size, parking---than the general area,” he explained.

NAI Realvest designed a special web site for the auction at NAIauction.com/Hudson, and bids will be accepted online from 11 a.m. to 3 p.m. on Wednesday, June 8.

For more information,  contact:
Paul P. Partyka Principal, Managing Partner, NAI Realvest, 407-875-9989 ppartyka@realvest.com;
Patrick Mahoney, President NAI Realvest, 407-875-9989 pmahoney@realvest.com
 Beth Payan or Larry Vershel, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

NAI Realvest Negotiates New Long-Term Office Lease at Primera in Lake Mary, FL

ORLANDO, FL --- NAI Realvest recently negotiated a five-year lease agreement for 1,380 square feet of office space at Suite 125, Primera Court I, 725 Primera Blvd. in Lake Mary. 

NAI Realvest Senior Broker Associate Mary Frances West, CCIM brokered the transaction.   The landlord at Primera Court I is Interchange-Primera II, LLC based in Daytona Beach. 

 The new tenant RezZiliant, which provides IT services, offsite backup, Virtual and Server colocation, recovery and security services, and also has a division that develops Healthcare software, has relocated from Waterbury, Conn. Their website is www.rezziliant.com  and contact info is 1-866-581-4678

For more information, contact:
Mary Frances West CCIM, NAI Realvest, 407-875-9989 mwest@realvest.com
Patrick Mahoney, President NAI Realvest, 407-875-9989 pmahoney@realvest.com;
Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142 or 407-461-3780 Lvershelco@aol.com

NAI Realvest Negotiates 10 Year Lease in South Daytona, FL

MAITLAND, FL.  - NAI Realvest recently negotiated a ten-year lease of the 11,414 square foot former Whistle Junction facility at 1854 South Ridgewood Ave. in South Daytona.

Paul P. Partyka, principal and managing partner at NAI Realvest, along with principals Matt Cichocki (lower right photo) and Kevin O’Connor (lower left photo), negotiated the transaction representing the landlord, SBI Leasing of Titusville. 

The new tenant is Fort Myers-based Ocean Buffet, Inc., who was represented by Josephine Wang of Carlino Commercial Group.  It will be the third location for Ocean Buffet when it is anticipated to open in July.  The firm also operates Ocean Buffet restaurants in Fort Myers and St. Augustine, Cichocki said.

This is also the eighth transaction involving a buffet style restaurant that the NAI Realvest team has completed in the last 18 months.

For more information, contact:  
Paul P. Partyka, Managing Partner/Principal, NAI Realvest, 407-875-9989; ppartyka@realvest.com
Matt Cichocki or Kevin O’Connor, Principals, NAI Realvest, 407-875-9989; mcichocki@realvest.com; koconnor@realvest.com
Patrick Mahoney, President, NAI Realvest, 407-875-9989 pmahoney@realvest.com
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142