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"Mullen"

HFF Arranges $78M Sale of Richmond Tower in Downtown Richmond

by John Nelson January 12, 2016

RICHMOND, VA. — HFF has brokered the $78 million sale of Richmond Tower, a 207,000-square-foot office tower located at 200 S. 10th St. in downtown Richmond. Completed in 2010, the 15-story property was 98 percent leased at the time of sale. Law firm Williams Mullen occupies roughly 82 percent of the office tower, which is situated adjacent to Kanawha Plaza and a few blocks from the Virginia State Capitol. Stephen Conley, Dek Potts, Jim Meisel, Andrew Weir and Matt Nicholson of HFF represented the seller, Armada Hoffler Properties Inc., in the transaction. Adam Vaisman of Butters Construction and Development and Richard Ostrovsky of MEK Management Services Inc. advised the buyer, Kireland South 10th Street LLC. Cary Abod of HFF’s debt placement team arranged $52 million in fixed-rate acquisition on behalf of the buyer.

January 12, 2016

Kroger Expands Presence in Midwest Following $800M Merger with Roundy’s

by John Nelson November 12, 2015

CINCINNATI AND MILWAUKEE — The Kroger Co. (NYSE: KR) and Roundy’s Inc. (NYSE: RNDY) have announced a definitive merger agreement under which Kroger will purchase all outstanding shares of Roundy’s for $3.60 per share in cash. The transaction is valued at approximately $800 million, including debt. The transaction price represents a premium of approximately 65 percent to the Roundy’s closing share price on Nov. 10. “We are delighted to welcome Roundy’s to the Kroger family,” says Rodney McMullen, Kroger’s chairman and CEO. “With a team of 22,000 talented associates, outstanding store locations and a shared commitment to putting customers first, we are excited about Roundy’s future growth.” The merger increases Kroger’s presence in the Midwest with 151 stores and 101 pharmacies in new geographies for Kroger, including Milwaukee, Madison and northern Wisconsin, which are served under the Pick ‘n Save, Copps and Metro Market banners. The merger also expands Kroger’s presence in the Chicagoland area, where Roundy’s operates 34 stores under the Mariano’s banner. “We admire what Bob Mariano has done with the Mariano’s banner in Chicago, where he has created an urban format that is resonating with customers and we expect to apply Roundy’s experience to our stores in …

November 12, 2015

Loans Midwest Minnesota Mixed-Use

Oak Grove Capital Originates $9.3M FHA Loan for New Mixed-Use Property in Minneapolis

by Christina Cannon October 16, 2015

MINNEAPOLIS — Oak Grove Capital has originated a $9.3 million FHA loan for the construction of Broadway Flats, a mixed-use property located in north Minneapolis. The property will include commercial space and workforce housing. Ken Dayton and Pat McMullen of Oak Grove Capital arranged the loan. The property is being built in an effort to revitalize the damage resulting from a tornado in 2011. The 19,000-square-foot commercial space is slated to open in April 2016, followed by the opening of 103 housing units in July 2016. Building amenities will include a business center, fitness room, conference room and underground parking. Plans to integrate a metro transit shelter into the exterior of the building should go into effect in 2017.

October 16, 2015

California Office Western

The Board of Equalization Renews Lease at Gateway Corporate Center in Sacramento

by Nellie Day April 28, 2015

SACRAMENTO, CALIF. – The Board of Equalization, the State of California’s elected tax commission, has renewed its lease for 66,593 square feet at Gateway Corporate Center in Sacramento. The Class A building is located at 160 Promenade Circle, near the downtown region. It is situated within Sacramento Gateway, a mixed-use development that includes a hotel and a 655,000-square-foot retail center. The Board was represented by Newmark Cornish & Carey. The landlord was represented by Ron Thomas and Sean Mullen of Cushman & Wakefield’s Sacramento’s office.

April 28, 2015

District of Columbia Multifamily Southeast

Greysteel Brokers Sale of Apartment Community in Northeast D.C.

by John Nelson April 8, 2015

WASHINGTON, D.C. — The Greysteel Co. has brokered the sale of Hampton Park, a 24-unit multifamily that also includes an adjacent land parcel located at 1215-1225 49th St. in northeast Washington, D.C. The property is located in Washington’s Deanwood neighborhood and is situated three blocks from the Deadwood Metrorail station. The seller, Mary Jenkins, sold the asset to Saha Capital Investments LLC for an undisclosed amount. Ari Firoozabadi, Kyle Tangney, John Mullen, Lance Ahmadian, Mike Bediones, Jake Ying and Alicia Orkisz of Greysteel represented the seller in the transaction.

April 8, 2015

Market Reports Southeast Market Reports

Aborsorption of New Multifamily Product in D.C. Quiets Concerns of Oversupply

by John Nelson December 1, 2014

The Washington, D.C. metro multifamily housing sector has continued to demonstrate resiliency and recovery in the midst of the clamor in the media over the last year, which has caused many to believe otherwise. Multifamily has enjoyed declining rental vacancy levels the last three of four years ending in 2013, and only nominal increases during 2014, according to Reis. The eagerness of developers to capitalize on the absorption and flowing capital markets of the D.C. multifamily market has left some speculators concerned that the established strength of the fundamentals will be eroded by oversupply and ultimately lead to flat or negative rent growth and high vacancy rates. While 2014 has come with a stream of new developments hitting the D.C. metro, absorption remains steady and in some cases outperforming expectations. New product has been consumed as quickly as new developments are delivered. The D.C. metro market absorption is on track to exceed its record of units absorbed in a year, which was reached in 2010, already absorbing 4,904 out of the 6,516 units delivered year-to-date, according to Reis. This continued strength of the multifamily market is further evidenced by higher levels of demand for Class A luxury units, as shown …

December 1, 2014

DISCOUNT DYNASTY: DOLLAR TREE TO ACQUIRE FAMILY DOLLAR FOR $8.5B

by admin July 28, 2014

CHESAPEAKE, VA. AND MATTHEWS, N.C. — Dollar Tree Inc. (NASDAQ: DLTR) and Family Dollar Stores Inc. (NYSE: FDO) have entered into a definitive merger agreement under which Dollar Tree will acquire Family Dollar in a cash and stock transaction valued at approximately $8.5 billion. The value of the consideration is $74.50 per share, a 22.8 percent premium over Family Dollar's closing stock price as of Friday. The transaction, which has been unanimously approved by the boards of directors of both companies, is expected to close by early 2015, at which time the Family Dollar shareholders will receive $59.60 in cash and $14.90 equivalent in Dollar Tree shares. “This is a transformational opportunity,” says Bob Sasser, CEO of Dollar Tree. “With the acquisition of Family Dollar Stores, Dollar Tree will become a leading discount retailer in North America, with more than 13,000 stores in 48 states and five Canadian provinces, sales of over $18 billion, and more than 145,000 associates on our team.” Dollar Tree will continue to operate under the Dollar Tree, Deals, and Dollar Tree Canada brands, and will operate under the Family Dollar brand upon closing. Howard Levine, CEO of Family Dollar, will remain with the company and …

July 28, 2014

Office Southeast

GREYSTEEL ARRANGES SALE OF EMBASSY ROW BUILDING IN D.C.

by admin June 18, 2014

WASHINGTON, D.C. — The Greysteel Co. has arranged the sale of a government-leased, five-floor office building on Embassy Row in Washington, D.C. The Embassy of the Republic of Georgia has leased the asset, located at 2209 Massachusetts Ave. N.W., since 2007. Ari Firoozabadi, Gil Neuman, Kyle Tangney, John Mullen, Henry Schuldinger and Caleb Brown of Greysteel represented the seller, Delshah Capital, in the transaction. The buyer, RezRoss Investment Group LLC, purchased the building for an undisclosed price.

June 18, 2014

Multifamily Southeast

GREYSTEEL ARRANGES SALE OF D.C. APARTMENT COMMUNITY

by admin June 11, 2014

WASHINGTON, D.C. — The Greysteel Co. has brokered the sale of Minnesota Flats, a 16-unit multifamily property located at 1840 Minnesota Ave. S.E. in Washington, D.C.’s Anacostia neighborhood. Ari Firoozabadi, Kyle Tangney, John Mullen, Caleb Brown, Lance Ahmadian, Mike Bediones and Jake Ying of Greysteel represented the seller, Washington Living Trust, in the transaction.

June 11, 2014

Multifamily Southeast

GREYSTEEL ARRANGES SALE OF APARTMENT COMMUNITY IN ALEXANDRIA

by admin June 3, 2014

ALEXANDRIA, VA. — The Greysteel Co. has brokered the sale of Mount Vernon Apartments, a boutique apartment property in Alexandria’s Del Ray neighborhood. Ari Firoozabadi, Kyle Tangney, John Mullen, Caleb Brown, Lance Ahmadian, Mike Bediones and Jake Ying of Greysteel represented the seller, Latitude 38 Realty LLC, in the transaction. The buyer was 3310 Mt Vernon Ave LLC.

June 3, 2014

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