O wners , D evelopers & M anagers
Real Estate Journal — Section B
www.marejournal.com
M id A tlantic
ashington D.C. — Besyata Invest- ment Group and Eastern Union Funding’s Seidenfeld arranges $73.5 million loan Besyata and Scharf family offices acquire $90 million 675-unit DC metro multifamily portfolio W
Arbor Vista, Sienna Creek, and Sienna Gardens, together a 675-unit 1960-vintage garden style multifamily apartment complex in Adelphi, M.D., offers superior amenities, including a pool, playgrounds, community, fitness and business centers, laundry, and soccer field. The community bene ts from a convenient inside-the-belt- way location within a few-min- ute drive from major roadways I-495 and I-95, allowing for an easy commute to downtown D.C., University of Maryland, The Mall at Prince George’s, and throughout the entire metro area. The metro area has a diverse economy with strengths in core sectors, including profes- sional and business services, education and health services, and agencies supporting the federal government. The sub- market has an established
of Hutchinson. “As a Direct Install contractor for several years, we see first-hand howDi- rect Install provides businesses and government entities with drastic savings and a quick return on investment.” Hutchinson provides turnkey HVAC Direct Install services to eligible businesses and lo- cal governments in: Atlantic, Burlington, Camden, Cape May, Monmouth and Ocean Counties. To learnmore about Hutchin- son and its energy service offer- ings, contact Dicoordinator@ hutchbiz.com or call 888-777- 4501 to schedule an energy assessment. About Hutchinson Hutchinson is a leading en- ergy/mechanical services con- tractor performing energy ser- vices, mechanical construction and retrofit installation work in the Greater Philadelphia Tri-State Region. Hutchinson’s technicians are factory trained, NATE certified and are on-call 24/7 365 days a year. n Besyata and Scharf Group plan to add value to the com- munities by creative modern- ization of the amenities and gradual unit renovations. The property will benefit from strong market fundamentals and organic rent growth. Besy- ata believes that investing in value-add class B multifamily transactions in well-positioned class B suburbia presents a prime opportunity to gener- ate attractive risk-adjusted returns in the multifamily space. n hub of large employers, in- cluding University System of Maryland, FDA, Joint Base Andrews Naval Air Facility, IRS, Census Bureau, UPS, and NASA. With the continued popula- tion growth and low unem- ployment, the submarket has a strong demand for class B units.
HI-LIGHTS August 25 - Sept. 14, 2017 Jeff Seidenfeld , managing director with Eastern Union Funding arranged the acqui- The Scharf Group , both N Y - b a s e d single family offices, have acquired Ar- bor Vista in Washington D.C. metro f o r a pu r - chase price of $90 million. Jeff Seidenfeld
Arbor Vista
sition financing. The loan was $73.5 million at a rate of 3.38 percent. Besyata and Scharf Group have been on a winning streak of successful acquisitions, only a few months ago closing on a $74 million 1,033-unit Multi-
family Portfolio in Atlanta and Louisville. BH Management, Besyata’s long-standing partner and lead- ing property manager of 70,000 apartments in 23 states, will oversee the day-to-day property management and leasing.
Hutchinson expands direct install footprint to NJ’s Atlantic and Cape May Counties
Industry Leaders
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Christie Administration marks groundbreaking of $45.3m affordable housing & retail project
CHERRY HILL, NJ — Hutchinson, a participating contractor in New Jersey’s
Clean Energy Direct Install Program, has been award- ed a contract to expand its Direct Install service area t o i n c l ud e Atlantic and Cape May Counties.
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Ed Hutchinson
W. M. Jordan Dev. Co. breaks ground on 80,000 s/f building first in 50 acre research park
Through Direct Install, Hutchinson’s staff will as- sist businesses in completing the application/agreement, perform the free energy as- sessment to identify eligible equipment replacements, and replace the eligible lighting and equipment. Direct Install is a turnkey en- ergy efficiency solution created specifically for existing small to medium-sized facilities located in New Jersey with a peak elec- tric demand that did not exceed 200 kW in any of the preceding 12 months. Through Direct
Hutchinson, a participating contractor in NJs Clean Energy Direct Install Program
Install, Hutchinson’s specially trained contractors help busi- nesses complete the applica- tion/agreement, perform the free energy assessment to identify eligible equipment replacements, and replace the eligible energy-efficient equip- ment. Currently, the program pays up to 70% of retrofit costs on lighting, heating, cooling & ventilation (HVAC), refrigera-
tion, motors, natural gas equip- ment and variable frequency drives. “We’re pleased that the New Jersey’s Clean Energy Program (NJCEP) and the BPU have approved the 2018 budget continuing the Direct Install Program and expanded our service area to include Atlantic and Cape May Counties,” said Ed Hutchinson , president
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