1-15-16

- DC

Focusing on the Mid-Atlantic area Pennmark Mgmt. Co. raises $60m for 6thMid-Atlantic U.S. Real Estate Fund P lymouth Meet- ing, PA — Penn- mark founder Donald

ISSUE HIGHLIGHTS Volume 28 Issue 1 January 15 - 28, 2016 2016 Forecast

Cafiero announced that it has raised $60 million for its real estate fund, reaching the fund’s hard cap. Focused on the Mid-Atlantic area of the U.S., the Pennmark team of investment professionals makes opportunistic invest- ments across retail centers in secondary and tertiary markets. "The Clearfield area is seeing great benefits from having Pennmark investing in Clearfield County. The improvements Pennmark is making to their commercial retail properties are helping to create jobs and are hav- ing a positive impact on our community," said Mark Mc- Cracken, Clearfield County Commissioner. Pennmark’s five prior funds have been active in most ar- eas of commercial real estate including, retail, office, in- dustrial, flex, the hospitality industry and most recently,

conversion of prior uses to first class medical centers in areas such as Beaver Falls, Waynesburg and Sewell, NJ. According to Pennmark, The Pennmark Process that is at the heart of their success in managing numerous commer- cial properties throughout the Delaware Valley, which brings together strong site selection, creative leasing solutions and a thorough design and construction implementation. Christopher Cafiero , VP of construction and property management at Pennmark is able to plan and construct medical centers at generally half the cost of major medical

agencies. “The community of Wash- ington Court House is thrilled with a retail tenant for the PennMark property on Co- lumbus Ave. Successful re- purposing of former big box retail locations is never easy and requires an owner with vision and a local commu- nity willing to work with the property owner. In our case, Washington Court House and PennMark were a great fit,” said Joe Denen city manager Washington Courthouse, Ohio Robert Sichelstiel , CFO and broker of record at Pen- nmark has been with the team since 1994, said, “We appreci- the Navy League of the United States to the highest stan- dards,” said Mudd. “The qual- ity of construction, the location, its mix of tenants, and the fact that it is the headquarters for the Navy League of the United States attracted strong lender interest frommultiple sources.” Located in Arlington County, the Navy League Building is located one block from the Courthouse Metrorail station. It was the first office building in Arlington to pursue LEED Silver Certification by the U.S. Green Building Coun- cil . Green features include bicycle racks and cages in the four-level parking garage, two ADA-compliant locker/chang- ing rooms with shower facili- ties, reserved parking spaces for carpoolers, and electric car charging stations. Tenants include Bean Kin- ney & Koman, P.C., NOVA Transportation Commission,

ate the strong support of our communities and local govern- ment agencies. We believe the robust interest in rural com- munities is an acknowledge- ment of our successful focus on opportunistic investments in real estate, and we look forward to continuing to cre- ate value in our portfolio.” Dr. William Grigsby Ph.D., com- munity development liason said, “I have always insisted on creating value within small local communities, and rural places where we are invested in. Pennmark gives back and provides direct support to the communities in which it works in.” n Associated General Contractors of America, and Navy League of the United States. Retail amenities include Bank of Georgetown, Ray’s the Steaks, John Marshall Bank, Mejana, and Five Guys. The Navy League of the Unit- ed States is a private, nonprof- it, civilian organization that serves, supports and stands with the U.S. sea services — the Navy, Marine Corps, Coast Guard and U.S.-flag Merchant Marine. It was founded in 1902 with the encouragement of President Theodore Roosevelt. The Navy League has provided a powerful voice for a stronger sea service to Congress and to the American people. The Navy League has grown into the foremost citizens’ organiza- tion to serve, support and stand with all the sea services – the U.S. Navy, U.S. Marine Corps, U.S. Coast Guard and U.S.-flag Merchant Marine. n

15-23A

For speaking and sponsorship information, please contact: Linda Christman at 781-871-3456 or lchristman@marejournal.com Upcoming Conferences February 5, 2016 PhiladelphiaMultifamily Summit February 11, 2016 NJ Industrial Real Estate and Development March 18, 2016 NJ Land Development Summit

Cushman & Wakefield’s Mudd & Geiger represent Navy League in $60m financing

Arlington, VA — Cush- man&Wakefield has secured $60 million in financing for the Navy League Building, located at 2300Wilson Blvd., a 198,865 s/f, class A, mixed-use office building located in Arlington. Executive managing director

Directory

DelMarVa • DC.................................................... 5-8A Financial Digest................................................9-14A 2016 Forecast.................................................15-23A New Jersey................................................. Section B Southern NJ.....................................................7-12B Pennsylvania.............................................. Section C Northeastern PA. ...............................................5-8C

Navy League Building

Philip Mudd and senior vice president Bradley Geiger of Cushman & Wakefield ar- ranged the financing on behalf of the owner. The borrower was represented by Grossberg, Yochelson, Fox & Beyda, LLP . A bank served as the lender for the 10-year loan. “The Navy League Building was constructed in 2005 by

Upcoming Spotlights Economic Development January 29 - February 11, 2016

www.marejournal.com

Made with