12A — July 12 - 25, 2013 — Mid Atlantic Real Estate Journal
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F inAnciAl d igest
Free and clear of existing dept HFF closes $3 million sale of multi-housing community in White Plains, Ny
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LoRHAM PARK, NJ —HFF announced that it has closed the sale of
close to The Bronx River Parkway and Interstate 287, and directly across from the Metro-North White Plains train station providing access to Manhattan. Renovated in 2004, the property features studio, one- and two-bedroom units averaging 727 square feet each. Community ameni- ties include a fitness center, residents lounge, internet café and a 159-space parking garage. According to Jose Cruz , “DSF has been very active in the Northeast during the last several years. This was
DSF’s first acquisition in the New York area and they did a great job of working through the transaction and closed on time.” The HFF team representing the sellers was led by senior managing directors Jose Cruz and Andrew Scandalios, managing directors Kevin o’Hearn and Jeffrey Julien and associate director Ste- phen Simonelli. Celebrating 100 years of real estate management and investment experience, Kor- man Communities seeks ac- quisition opportunities for its premierAKAandAVE brands. Korman Communities special- izes in AAA quality properties in major urban markets across the United States and in Lon- don. The primary growth markets for Korman Commu- nities include New York City metro (including northern New Jersey and southern Con- necticut), Philadelphia metro, Washington metro (including District of Columbia, northern Virginia, and southern Mary- land), Boston, Los Angeles, San Francisco, and London. With more than $1.5 billion invested in four million square feet since 2000, the DSF Group has quietly become one of the most successful private real estate investment firms in the country. n PHILADELPHIA, PAAND MELBoURNE, FL — HFF has arranged $127.5 million in financing for a 37-property industrial, office and retail portfolio located in suburban Philadelphia, PAand Mel- bourne, FL. Working on behalf of The Henderson Group and Trin- ity Capital Associates , HFF placed the three-year, floating- rate loan with Natixis Real Estate Capital LLC . Loan proceeds are refinancing exist- ing debt on the properties and consolidating ownership under the company founder, Wilbur Henderson. n HF F p o s i t i o n s $12.5m for PA & FL portfolio
25 Martine Ave. , a 12-story, 124-unit multi-housing com- munity in White Plains, NY. HFF marketed the property on behalf of the seller, a joint venture between Korman Communities and an insti- tutional partner. The DSF Group purchased the commu- nity for $34 million free and clear of existing debt. Twenty-five Martine Ave., situated in downtown White Plains, is located adjacent to The Galleria at White Plains,
25 Martine Ave., White Plains, NY
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Meridian Capital Group, LLC WYV\KS`HK]PZLKVUÄUHUJPUNMVY[OL MVSSV^PUN[YHUZHJ[PVU! 9 North 9 409-Unit Luxury Apartment Building Philadelphia, PA $25,000,000 7LYTHULU[-PUHUJPUN
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