Arbor Closes Five Fannie Mae DUS® Loans Totaling $43.2M In California

Uniondale, NY (Mar. 16, 2011) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of five multifamily loans totaling $43,242,000 under the Fannie Mae DUS® Loan and Fannie Mae DUS® Small Loan product lines across California:

Tustin Portfolio, Tustin, CA (top centered photo) – The three-building, 117-unit portfolio received $15,500,000 funded under the Fannie Mae DUS® Loan product line. Located within Orange County, the assets are situated in an area near retail centers, thoroughfares, public transportation and community services. Tustin, CA, has also recently shown rising apartment demand, declining vacancy rates and increasing rents. The properties’ 10-year refinance loan amortizes on a 30-year schedule.

 Tuscany Villas, West Covina, CA (above centered photo) – The 165-unit complex received $13,600,000 funded under the Fannie Mae DUS® Loan product line. The garden-style property is located about 20 miles east of downtown Los Angeles, CA, in a submarket that has added no new multifamily assets within the past five years and is not scheduled to add to the supply until 2014. The 10-year refinance loan amortizes on a 30-year schedule.

Bayside Terrace Apartments, San Pedro, CA (above centered photo) – The 99-unit complex received $9,600,000 funded under the Fannie Mae DUS® Loan product line. The 10-year loan amortizes on a 30-year schedule.

Eddy Street Apartments, San Francisco, CA  (above centered photo)– The 19-unit complex received $2,442,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.

Sherman Grove Apartments, Sunland, CA (above centered photos)– The 71-unit complex received $2,100,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.

The loans were originated by Greg Gillam (lower right photo), Director, in Arbor’s full-service Manhattan Beach, CA, lending office.

“These loans are examples of Fannie Mae’s effort to provide financing for well-maintained properties that provide affordable market-rate housing for the California rental market,” Gillam said.

 Contact: Christopher Ostrowski, costrowski@arbor.com

HFF arranges $3.6 million financing for JP Realty Partners purchase of Atrium at Bent Tree in Addison, TX

 DALLAS, TX – HFF announced today that it has arranged $3.6 million in financing on behalf of JP Realty Partners to fund their purchase of Atrium at Bent Tree (top left photo), a 112,607-square-foot office building in Addison, Texas.

HFF worked exclusively on behalf of Mark Jordan of JP Realty Partners to secure the fixed-rate loan to finance the purchase from CapMark.  This is JP Realty Partners’ second purchase in the last year and a half in the Addison area.

According to HFF, this was an extremely quick turnaround as JP Realty Partners went under contract on March 2nd and closed only seven days later on March 9th, which is a testament to the strength of the borrower and the asset itself. 

Atrium at Bent Tree is located at 16775 Addison Road close to the Dallas North Tollway and Addison Airport in Dallas’ Far North submarket.  The property was renovated in 2008 and is currently 68 percent leased.

“We feel the property is well positioned to offer attractive lease terms, which in turn will facilitate the leasing process,” said Mark Jordan of JP Realty Partners.

The HFF team representing JP Realty Partners included managing director Steve Heldenfels and associate director Adam Herrin.

JP Realty Partners owns approximately 2,000,000 square feet of single entity assets.  JP's portfolio consists of a variety of buildings that fall into several scenarios, from Class "A" office buildings leased to long-term credit tenants, to golf courses and/or country clubs.

Contacts:

Steve Heldenfels, HFF Managing Director, (214) 265-0880, 

sheldenfels@hfflp.com

Adam Herrin, HFF Associate Director, (214) 265-0880, aherrin@hfflp.com

Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,

krmurphy@hfflp.com

HFF closes $23.3 million sale of grocery-anchored shopping center in Richmond, VA

 

WASHINGTON, D.C. –HFF announced today that it has closed the sale of Westpark Shopping Center (top left photo), a 176,973-square-foot, grocery-anchored shopping center in northwest Richmond, Virginia. 

HFF marketed the property on behalf of the seller, a commingled fund managed by J.P. Morgan Investment Management, Inc.  Westdale Real Estate Investment and Management purchased Westpark for $23.3 million and assumed existing financing on the property. 

Westpark Shopping Center is situated on a 14.7-acre site at 9645 West Broad Street approximately five miles northwest of downtown Richmond in Glen Allen.  The property is 74 percent leased to tenants including Martin’s (former Ukrop’s) and The Tile Shop.

The HFF team representing the seller included directors Richard Reid (middle right photo) and Jim Hamilton (lower left photo) and managing director Mark Remington.

“J.P. Morgan sold this institutionally-managed, well-maintained property into a strengthening retail investment environment and Westdale purchased a necessity-driven asset with the dominant grocer and upside potential in Richmond’s fastest growing corridor; this is a win-win for both sides,” said Remington.

“We are seeing tremendous opportunities to acquire properties and distressed debt at attractive valuations, to provide equity for owners to recapitalize their current holdings, and to serve as a new viable sponsor for lenders seeking a sponsor to assume existing debt,” commented Joe Beard, founder of Westdale.

Beard added, “Westpark presented a perfect opportunity to acquire a dominant Class A shopping center with strong upside while optimizing debt proceeds for the holders of a securitized loan.”

Contacts:    

Richard M. Reid, HFF Director, (404) 832-8460, rreid@hfflp.com

Mark T. Remington, HFF Managing Director, (202) 533-2500 mremington@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,  

krmurphy@hfflp.com

HFF arranges $22.35 million financing for a green multi-housing community in North Texas

  

 DALLAS, TX – HFF announced today that it has arranged $22.35 million in financing for La Valencia at Starwood (top left photo), a 270-unit, Class AA green residential community in Frisco, Texas. 

HFF placed the seven-year fixed-rate loan with New York Life Insurance Company.  This loan will place permanent financing on the asset.

La Valencia at Starwood is located at 6805 Lebanon Road along the Dallas North Tollway within the Starwood master planned development of Frisco. 

Completed in 2009, the property was awarded the “Green Multifamily Project of the Year” from the National Association of Home Builders. 

La Valencia at Starwood is 95 percent leased and has one-, two- and three-bedroom units ranging from 744 to 1,450 square feet.  Community amenities include a business center, resort-style pool, fitness center and gated entry.

The HFF team representing the borrower was led by managing director Kevin MacKenzie (bottom right photo).

Contacts:

Kevin C. MacKenzie, HFF Managing Director, (214) 265-0880 kmackenzie@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,

krmurphy@hfflp.com

HFF arranges $43.1 million refinancing for Frisco, TX office portfolio

  

DALLAS, TX – HFF announced today that it has arranged a $43.1 million refinancing for a three-property, 375,694-square-foot office portfolio within the Hall Office Park in Frisco, Texas.

HFF worked exclusively on behalf of the borrower, Hall Financial Group, to secure the 10-year, fixed-rate loan through Deutsche Bank Securities, Inc. 

Situated within Hall Office Park, the three properties are located at 2600 Network Boulevard, and 3000 and 3211 Internet Boulevard close to Texas Route 121 and the Dallas North Tollway in Frisco, a northern suburb of Dallas.

 Hall Office Park amenities include a YMCA, conference center, bank, webcasting and videoconferencing facilities, a major university branch and on-site childcare.  2600 Network Boulevard was completed in 2006 and has six stories of office space totaling 143,542 square feet. 

Completed in 2007, the six-story building at 3000 Internet Boulevard has 144,913 square feet.  3211 Internet Boulevard, built in 2005, is a three-story building with 87,239 square feet.  The properties are 93 percent leased to tenants including ThyssenKrupp Elevator Corporation, Sanyo, Citrus Energy Corporation, Blade Energy Partners and Oracle, among others.

The HFF team representing Hall Financial Group was led by senior managing director Whitaker Johnson (top right photo) and managing director Steve Heldenfels.

Founded in 1968, Hall Financial Group and affiliated companies are comprised of diversified private investment holdings, which are primarily owned by Craig Hall, his family and various family trust.

Contacts:

Whitaker Johnson, HFF Senior Managing Director, (214) 265-0880 wjohnson@hfflp.com

Steve Heldenfels, HFF Managing Director, (214) 265-0880 sheldenfels@hfflp.com

Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,

krmurphy@hfflp.com

Faris Lee Investments Completes $5.21 Million Sale of Property Occupied by Walgreens in Stockton, CA

IRVINE, CA – Faris Lee Investments, the nation’s largest retail-specialized investment sales and advisory team, has completed the sale of a 14,820-square-foot retail property (top left photo) occupied by Walgreens for $5.21 million.

 Built in 2008 and situated on just under 1.5 acres, the property is located at 7850 West Lane in Stockton, Calif. Walgreens has a long-term, absolute triple-net lease with 72 years remaining on the lease term.  

Jeff Conover, senior managing director of Faris Lee Investments, represented the seller, West Hammer Properties from San Juan Capistrano, Calif.

The all-cash buyer, a family trust from Gilroy who was in a 1033 exchange, was represented by Kevin Cunningham with Cornish & Carey. The property closed at a 6.5 percent cap rate.

“The cap rate of 6.5 percent on this transaction is the lowest for a single-tenant Walgreens in the state of California over the past 18 months,” said Conover. “Faris Lee garnered multiple, all-cash offers, identified a buyer through mass exposure from Faris Lee investor database that includes a 1031/1033 exchange network for Northern California and closed escrow in just two weeks.”

The Walgreens property includes a drive-thru pharmacy and is part of a neighborhood shopping center near Costco. It sees 68,000 cars per day and is situated at a signalized intersection. Additionally, the property has unobstructed street visibility and monument signage. There are more than 123,000 people within a three-mile radius.

 “Single tenant properties in strong retail markets/locations such as this one are highly sought after and provide better returns than bank CDs and less risky income than stock market investments,” said Rich Walter (lower right photo), president of Faris Lee Investments. “The buyer has a tenant with an extremely long-term commitment and no maintenance or landlord responsibilities.”

Walgreen Co. is the number one drug store in the nation in sales. Walgreens builds rather than buys stores, so it can pick prime locations. The company operates approximately 6,934 stores.

 For more information, please visit http://www.farislee.com/

.

 Contact:  Darcie Giacchetto, 949.278.6224, Spaulding Thompson & Associates

For Faris Lee Investments

                               

Scott Gregory Joins Lincoln Property Company Orlando Office

ORLANDO, FL– Lincoln Property Co., one of the most respected and diversified service firms in the U.S., announced today that Scott Gregory (top right photo) has joined LPC’s Orlando office as a senior associate for the office and industrial division.

In his new role, Gregory will oversee the leasing and marketing of a portfolio of industrial and office properties throughout Orlando. He will also assist select tenants with lease negotiations, property acquisitions and new development opportunities.

Gregory has a diverse mix of real estate experience. He has redeveloped hotel and multifamily projects and handled large tract land acquisitions. Most recently, he was responsible for the leasing, marketing and management of over 3 million square feet of industrial, flex, office and retail properties in central Florida.

“LPC is one of the premier names in real estate, especially in the southeast,” said Gregory. “And I’m very excited to be joining the team.”

Scott holds an MBA from Hawaii Pacific University and a bachelor’s degree from the University of New Hampshire. He is a member of NAIOP, CCIM, ULI, ICSC and EDC.

  

 For more information on the Southeast Region of Lincoln Property Company, please visit http://www.lpc.com/  or  http://www.lpcsoutheast.com/

To check out the blog, go to http://blog.lpcsoutheast.com/

Contact: Midd Read, mread@wilbertnewsstrategies.com

Sherry Walker Appointed Director of Sales for the Bourbon Orleans Hotel

NEW ORLEANS, LA – Mar. 15, 2011 - The Bourbon Orleans Hotel (top left photo) announced today the appointment of Sherry Walker as director of sales for the 218-room boutique property in the French Quarter of New Orleans. Walker will be responsible for sales team leadership and sales revenue at the property.

“We are delighted to welcome Sherry to the hotel,” said General Manager Mark Wilson. “With 20 years of director-level sales experience, Sherry will be a great asset to the Bourbon Orleans team, guests and clients.”

Most recently Walker was director of sales and marketing for the Chateau Bourbon where she was instrumental in developing several signature events including the Tennessee Williams Festivals Annual Cocktail contest and the annual Kids on Canal event in conjunction with the New Orleans Downtown Development District’s Home for the Holidays. 

Walker’s experience also includes director of sales and marketing positions with the Baton Rouge Marriott and the Best Western Richmond Suites.  While at the Marriott, she received several commendations including Marriott International’s William R. Tiefel Award of Excellence and Columbia Sussex Top Performer Sales Shop Award.

Contact: Mark Wilson, General Manager, 504 523 2222

mark.wilson@ihrco.com

Arbor Closes Three Fannie Mae DUS® Loans Totaling $9.8M Across Midwest

UNIONDALE, NY (Mar.  14, 2011) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of three diverse loans totaling $9,797,400 under the Fannie Mae DUS^® Dedicated Student Housing Loan, Fannie Mae DUS^® Limited Equity Co-op Loan and Fannie Mae DUS^® Small Loan product lines across the Midwest:

• Cedar Greens Portfolio, East Lansing, MI (above photo)– The 54-unit student housing complex near the campus of Michigan State University received $6,000,000 funded under the Fannie Mae DUS^® Dedicated Student Housing Loan product line following a complete renovation. The 10-year loan amortizes on a 30-year schedule.
• 
  

• Colonial Square Cooperative, Kansas City, MO (above photo) – The 251-unit complex received $2,447,400 funded under the Fannie Mae DUS^® Limited Equity Co-op Loan product line. The 10-year loan amortizes on a 30-year schedule.

• Creekside and Meadow Brook Apartments, New Richmond, WI (above photo) – The 48-unit complex received $1,350,000 funded under the Fannie Mae DUS^® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.

• The loans were originated by Michael Jehle (lower right photo), Midwest Regional Director, in Arbor’s full-service Bloomfield Hills, MI, lending office.

 “In each of these diverse Midwest deals, the borrowers took advantage of attractive financing opportunities to improve and/or refinance their properties,” Jehle said.

“With Cedar Greens, the repeat Arbor borrower replaced its variable short-term bank debt with long-term, fixed-rate financing following a complete renovation. In Colonial Square, the cooperative’s members wanted to undertake a significant renovation and we assisted by providing an attractive fixed-rate loan that completed the improvements.

"In the case of Creekside and Meadow Brook, the repeat Arbor borrower converted its variable-rate financing to fixed-rate.”

Contact:  Christopher Ostrowski, costrowski@arbor.com

Arbor Commercial Mortgage and Massey Knakal Shed Light On Real Estate Investment

Photo by Stacey Canderelli

(Pictured left to right, Robert Knakal, Massey Knakal Realty Services; Robert Ivanhoe, Greenberg Traurig; Ivan Kaufman, Arbor Commercial Mortgage, LLC; and Daniel Geiger, Real Estate Weekly)

Firms’ Special Event Shows Market Turning Corner; Multifamily Leading Way

NEW YORK, NY—Uniondale, NY-based Arbor Commercial Mortgage, LLC and Massey Knakal Realty Services recently brought their respective commercial real estate market expertise and insight to the Harvard Club of New York City by hosting a special panel event titled “Perspectives on Investment: Property Sales and Financing Markets.”

Moderated by Daniel Geiger, Real Estate Weekly’s Senior Staff Reporter and Online Editor, the event also featured panelists Robert Knakal, Massey Knakal’s Chairman and Founding Partner; Robert Ivanhoe, the Chairman of Greenberg Traurig’s Real Estate Practice and New York office as well as the Co-Chairman of the firm’s REIT practice; and Ivan Kaufman (top right photo), Chairman and CEO of Arbor Commercial Mortgage and President and CEO of Arbor Realty Trust, Inc.

 On a collective basis, the panelists noted that commercial real estate liquidity is now returning to the market in earnest, with trophy and multifamily properties specifically exhibiting the strongest demand and fundamentals.

   Contact:  Christopher Ostrowski, costrowski@arbor.com

Maryland Multi Housing Association, Inc.now offering FREE, Online Market Surveys and a password protected Website to most property owners/managers in Maryland

BALTIMORE, MD– The Maryland Multi Housing Association, Inc. (MMHA) announced they are now offering a FREE online market survey and password protected apartment website to all property managers/owners in the State of Maryland (all counties except Montgomery/Prince George).

 MMHA recently partnered with MyRentComps.com to offer the online market surveys.

According to Adam Skolnik, Executive Vice President of MMHA, “MMHA was the first apartment association outside of Florida to offer this free service to all apartment owners and managers.

“ Now the owners or property managers from Garrett County to Worchester County and everywhere in between can simply go to www.mmhaonline.org, click the blue market survey button and log in to update their rents/occupancies.

 Once they update their property, they can then invite their comp group to join them for MMHA’s FREE Online Market Survey.

“This is the first online market survey system that is designed specifically for property managers, owners, and the local and state apartment associations” said Mr. Robert E. Smith (top right photo), Founder of MyRentComps.com.

He notes, “A typical property spends over $3,900 per year calling for market surveys.

“This does not include the additional time that is wasted by on site personnel who give out the same information via telephone or fax over and over again to anyone who calls.

“The apartment association’s membership consists of owners, management companies and vendors who sell products or services to the apartment communities.

“This system allows the property manager/owner to save time. It also gives the product or service providers another opportunity to advertise their products or services directly to property managers.

“ In addition, the apartment association can boost its membership, since the website was designed to send everyone who calls an apartment property for a market survey to the apartment association’s website.

“ Property owners and managers also get a free password protected website at (www.ApartmentsNowAvailable.com) just for participating with the online market survey.”

The Maryland Multi Housing Association (MMHA) is a non-profit trade association representing owners, developers, investors, managers and employees of apartment communities in Maryland. (MMHA) is a professional non-profit trade association established in 1996.

MMHA's membership consists of owners and managers of over 130,000 rental housing homes that house over 130,000 families in the state of Maryland.  Our membership also includes over 170 associate members that supply goods and services to the multi-housing industry.

(MMHA) serves the rental housing industry and our communities by promoting and maintaining the highest professional standards of excellence. We provide education, information, legislative and advocacy services, enabling our members to operate successfully while contributing to the community around us.

Associate members are suppliers, vendors, and contractors dedicated to the apartment industry. MMHA is a not-for-profit membership organization created by and for apartment owners, builders, developers, management companies, and their employees in the property management business.

We offer our members professional certification programs, continuing education opportunities, lease and addendum forms, legislative advocacy and communication of industry issues.

Contacts:

Adam Skolnik, CPM. Maryland Multi Housing Association (MMHA)

410-825-6868                                                  

Robert E. Smith, Founder, MyRentComps.com,

407.206.3791, ext. 101     

                                               

Norman Eastwood Named One of Marcus & Millichap’s Top Investment Specialists Nationwide

ENCINO, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced its top investment specialists for 2010. Norman Eastwood (top right photo) of the firm’s Dallas office ranked No. 8 out of more than 1,200 investment specialists nationwide.

“We are proud to recognize Norman Eastwood as one of the firm’s top agents,” says John J. Kerin, president and chief executive officer of Marcus & Millichap. “Norman’s accomplishments reflect his superior transaction expertise and unwavering commitment to client service.”

Eastwood, a senior vice president investments, specializes in the sale of multifamily investment real estate. He joined Marcus & Millichap in May 1987 and was promoted to senior vice president investments in July 2010. Eastwood also serves as a senior director of the firm’s National Multi Housing Group.

  Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

NAI Realvest Negotiates New Long-Term Restaurant Lease at Boardwalk Plaza in University of Central Florida area

 ORLANDO, FL – NAI Realvest recently negotiated a new five-year lease agreement for Suite 1018, an endcap space with drive-through in the Boardwalk Plaza (top left photo) located at 3100 Alafaya Trail in Oviedo. 

NAI Realvest principals Matt Cichocki and Kevin O’Connor negotiated the transaction representing both the landlord, Boardwalk Plaza LLC of Gardena, Calif.  and the new tenant AC/BA LLC of Oviedo. 

 The tenant plans to open a Mediterranean style café by the end of March serving coffees, fresh baked goods, sandwiches, Middle Eastern dishes and smoothies.  

 The 8,312 square foot Boardwalk Plaza is currently 83 percent leased.

For more information, contact:  

Matt Cichocki and Kevin O’Connor, NAI Realvest 407-875-9989; mcichocki@realvest.com; koconnor@realvest.com

Patrick Mahoney, President, NAI Realvest, 407-875-9989 pmahoney@realvest.com

Beth Payan, Larry Vershel Communications, 407-644-4142 lvershelco@aol.com

 

NAI Realvest Negotiates Seven Year Office Lease in La Vina Office at Lake Nona in East Orlando

 ORLANDO, FL --- NAI Realvest recently negotiated a seven-year lease agreement for office space in La Vina Office at Lake Nona at 9161 Narcoossee Rd. in East Orlando. 

 Mary Frances West (middle right photo), CCIM senior associate at NAI Realvest, negotiated the lease of suite B209 with 2,706 square feet of professional office space in the upscale facility representing the landlord Orlando-based Ripley’s International, LLC.  

 The new tenant is Van Dyke Gynecology who was represented by Richard Schauseil of Charles Rutenberg Realty.

For more information, contact:  

Mary Frances West, CCIM, Senior Broker-Associate NAI Realvest, 407-875-9989, mwest@realvest.com;

Patrick Mahoney, President, NAI Realvest, 407-875-9989, pmahoney@realvest.com;

Beth Payan, Larry Vershel Communications, 407-644-4142, lversehlco@aol.com

  

Fitch U.S. CMBS Newsletter: CREL CDO Delinquencies Nearing 15%

 NEW YORK, NY--The  monthly  climb  in  delinquencies  continues  for U.S. CREL CDOs, with late-pay  rates  now approaching 15%, according to the latest index results from  Fitch Ratings. The full results are featured in this week’s U.S. CMBS newsletter.

CREL  CDO  delinquencies  rose  to  14.6%  in February from 14% in January.

Construction  and  land  loans  continue to encompass the most late-pays by

property  type, though their collateral composition in current transactions

is far smaller than other larger property types.

 ‘Though office loans make up the largest percentage of CREL CDO collateral,

they  have  the  lowest  delinquency  rate  among all property types,’ said

Director  Stacey  McGovern.  ‘Over  time,  however,  Fitch  projects office

delinquencies in CREL CDOs to increase.’

Current delinquencies by asset type are as follows:

--Construction: 53% (2% of total collateral);

--Land: 39% (7%);

--Condo: 26% (2%);

--Multifamily: 22% (14%);

--Industrial: 14% (2%);

--Hotel: 12% (16%);

--Rated Debt: 12% (17%);

--Retail: 11% (6%);

--Office: 9% (24%);

--Other: 9% (5%).

The remaining 5% is un-invested principal cash.

Additional  information  is available in Fitch's weekly e-newsletter, 'U.S.

CMBS  Market Trends'.

Contact:

Stacey McGovern

Director

+1-212-908-0722

Fitch Inc., 1 State Street Plaza, New York, NY 10004

Karen Trebach

Senior Director

+1-212-908-0215

Media   Relations:   Sandro   Scenga,   New  York,  Tel:  +1  212-908-0278:

sandro.scenga@fitchratings.com

Arbor Closes Nine Fannie Mae DUS® Loans Totaling $32.9M Across U.S.

UNIONDALE, NY - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of nine loans totaling $32,902,500 under the Fannie Mae DUS® Loan and Fannie Mae DUS® Small Loan product lines across the United States:

Creekwood Landing Apartments, Richwood, TX (top left photo) – The 256-unit complex received $7,117,500 funded under the Fannie Mae DUS® Loan product line. The 10-year loan amortizes on a 30-year schedule.

Sunset Place Apartments, West Palm Beach, FL (middle right map) – The 192-unit complex received $6,500,000 funded under the Fannie Mae DUS® Loan product line. The 10-year loan amortizes on a 30-year schedule and provided the borrower with a cash-out refinance opportunity after a long-term hold.

Olive Tree Apartments, Lauderhill, FL (lower left photo)– The 88-unit complex received $3,300,000 funded under the Fannie Mae DUS® Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.

Crooke-Woodruff Apartments, Brooklyn, NY – The 107-unit complex received $6,400,000 funded under the Fannie Mae DUS® Loan product line. The five-year loan amortizes on a 30-year schedule.

Bushwick Avenue Apartments, Brooklyn, NY – The 12-unit complex received $2,120,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.

Mountainbrow Village, Corning, NY – The 57-unit complex received $1,690,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.

148-152 Elm St., Yonkers, NY – The 20-unit complex received $1,200,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.

1145 Dean Street Apartments, Brooklyn, NY – The 10-unit complex received $1,125,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.

Blackwolf Run II-6, Raleigh, NC – The 39-unit complex received $3,450,000 funded under the Fannie Mae DUS® Loan product line. The nine-year refinance loan amortizes on a 30-year schedule for this repeat Arbor borrower.

The loans were originated by Alexander Kaushansky, Director, in Arbor’s full-service New York, NY, lending office.

 “With each of these geographically diverse transactions, Arbor was happy to provide the borrowers with the strongest financing terms available in the marketplace,” Kaushansky said.

 “In the case of the Florida and Texas transactions, the broker in these deals played an integral part in making the funding process seamless for all parties.

“And with regard to the Elm Street, Dean Street and Bushwick Avenue transactions, each involved a distressed asset acquisition where the borrowers provided significant equity investments for capital improvements. We were happy to provide permanent financing in each of these deals.”

Contact:  Christopher Ostrowski, costrowski@arbor.com

HFF named to market for sale Bressi Ranch Village Center in Carlsbad, CA

IRVINE, CA – HFF has been named to market for sale Bressi Ranch Village Center (top left photo), a 111,403-square-foot, trophy grocery-anchored retail center in Carlsbad, California.

HFF will market the property on behalf of the LNR CPI Fund.  There is no formal asking price for the property.

Located in the coastal Southern California city of Carlsbad, Bressi Ranch Village Center is part of the prestigious 525-acre master planned Bressi Ranch development.

 Constructed in 2009 after nearly seven years of planning, the center is 95 percent leased and is anchored by Stater Bros., Trader Joes, Unleashed by PETCO, Souplantation Express, Chase Bank and Rubios.

The HFF team representing LNR CPI Fund includes senior managing director Ryan Gallagher (middle right photo)  and directors Kelly Rohfeld (lower left photo)  along with Stewart Keith at Flocke and Avoyer.

“This is truly a unique opportunity to buy a newly-developed, dual grocery-anchored center in a great location," said Gallagher.  “It is one of the newest and most attractively designed grocery-anchored centers in Southern California.”

Contacts:  

Ryan Gallaher, Ca. Lic. # 01269918, HFF Senior Managing Director, (949) 253-8800, rgallagher@hfflp.com

 Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,

krmurphy@hfflp.com