Business

Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that Senior Vice President Pat Kent completed the sale of Hemet Plaza, a 58,035-square-foot shopping center anchored by Big Lots (not part of the sale) and True Value hardware store in Riverside County, California. The purchase price was $5,575,000, representing a cap rate of 6.3%.

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens property located at 4300 Highway 17 South in North Myrtle Beach, South Carolina for $5,015,000.

Dekel Capital, a Los Angeles-based real estate merchant bank that specializes in sourcing and placing equity and debt for active middle market commercial real estate developers and investors, has placed $50 million in financing for the construction and development of the Pinnacle Sandy Apartments in the southeast corridor of the Salt Lake City metropolitan area. The deal was structured as a $36.1 million construction loan through Dekel Capital’s advisory practice and $13.9 million JV-Equity funded by the firm’s proprietary equity fund, Dekel Strategic Investors (DSI)

“We applaud members of the House for passing the Portfolio Lending and Mortgage Access Act, legislation introduced by Rep. Andy Barr that would expand access to mortgage credit by treating loans originated by a bank and held in portfolio as Qualified Mortgages.  This important measure, which received bipartisan support, will help many creditworthy borrowers access safe, traditional credit that would otherwise be out of reach.

St. Anton Communities announces the beginning of construction activity on a major Downtown Campbell housing community, an $88 million project involving 14 separate parcels of land assembled through a multi-year effort. The “Residences at Railway” is strategically located adjacent to the Downtown Campbell Light Rail Transit Station, the Los Gatos Creek trail and numerous downtown businesses.  The project, which is located in the Silicon Valley, includes 119 apartments, 32 townhomes and six duets, all designed by national award-winning firm KTGY Architecture + Planning.

Meridian, a full service real estate developer and owner of medical real estate, is pleased to announce that two of its projects have been selected as finalists in the 2015 HREI Insights Awards in the “Best New Medical Office Buildings under 25,000 square feet.” and “Best Renovated or Repurposed Healthcare Facility” categories. Healthcare Real Estate Insights (HREI) is a national magazine that covers health care real estate development, financing, and investment.

The Federal Home Loan Bank of New York (“FHLBNY”) announced today the results of the 2015 election for four positions on the FHLBNY’s Board of Directors whose terms will each commence on January 1, 2016. All four terms will run for four years, expiring on December 31, 2019

Congratulations! You’ve found the perfect apartment. It’s exactly the right size. It has all of the amenities you want. It’s in the neighborhood you love. It’s even well within your budget. You, dear reader, have found the holy grail of apartments. And, in another stroke of luck, you managed to snag it and put down a deposit before anybody else could grab it. Now what?

Sotheby’s International Realty today released its Greater Los Angeles Market Report which revealed Pacific Palisades as the top luxury market ($3 million and higher) with a 94 percent increase in single family home sales in October 2015. Westwood and Cheviot Hills saw the second largest increase in luxury home sales with a 50 percent increase and Beverly Hills Post office followed with a 46 percent increase.

Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that Eric Vu and Jeff Hauber completed the sale of a 2,900-square-foot retail building in Orange County for $1.2 million, representing a cap rate of 4.17%.

ARCO / Murray Construction Company is pleased to announce that it has been awarded the construction for the La Chiquita tortilla production and distribution facility located in Orlando, Florida. The 80,000 square foot project will consist of renovating an existing warehouse to accommodate a production area, freezer, cold dock, and office space.

TIAA-CREF, a leading U.S. financial services organization and the nation’s largest manager of U.S. institutional tax-exempt real estate assets*, is selling a 49% interest in six office properties and two land parcels in Miami, forming a joint venture with Allianz Real Estate of America. TIAA-CREF will retain a 51% interest in the properties, located at the Waterford at Blue Lagoon corporate park near Miami International Airport, and serve as the operating partner

Westwood Financial Corp. (WFC), one of the largest privately held owner-operators of grocery-anchored retail properties in the United States, announced the acquisition of the Avondale Fiesta shopping center for $7.6 million. The Kroger shadow-anchored center is 34,129-square-feet and is located at 11435 West Buckeye Road in Avondale, Arizona, in the greater Phoenix area.

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a two-tenant net leased center located at 418-20 East Rollins Road in Round Lake Beach, IL for $2,163,087

With more than 170,000 SF in development/redevelopment and another 100,000 SF in the pipeline, Meridian is still aggressively pursuing more value-add medical office opportunities throughout California

Hunt Mortgage Group, a full-service commercial real estate lender, announced today that Amy Shah has joined the firm to launch and build a Collateralized Loan Obligation (CLO) platform for the Company. She joins the firm as Vice President on the Proprietary Lending Team and will report to Michael Becktel, Director. Shah will operate out of the firm’s New York office.

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net lease Hooters property located at 316 SW Greenville Boulevard in Greenville, NC for $1,500,000. The 4,100 square foot Hooters property is located along the area’s primary thoroughfare which features numerous national retailers including Walmart Supercenter, Target, Kohl’s, Lowe’s, Dick’s Sporting Goods, Best Buy and many others.

While Silicon Valley may be booming with new high-tech start-ups and the coveted jobs associated with them, many in the workforce still lack access to affordable housing that they can call home. Partnering with the City of Mountain View, ROEM Corporation and Eden Housing, took the challenge of converting an older community lacking modern amenities into a community that rivals market-rate housing in design and amenities while achieving the highest USGBC LEED rating, LEED-H Platinum Certification

The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the activity in the National Net Lease Drug Store Market.

Hanley Investment Group Real Estate Advisors, a nationally-recognized boutique real estate brokerage and advisory firm specializing in retail property sales, announced today that the group is launching its fifth annual Movember campaign to raise funds and awareness for men’s health during the month of November, by growing moustaches and moving. Last year, Hanley Investment Group exceeded its goal and raised $27,000. The group was ranked #39 out of nearly 23,000 teams nationwide (the top 1% in the U.S.) in the fundraising effort. This year, Hanley Investment Group hopes to exceed last year’s amount