10A — April 13 - 26, 2018 — Financial Digest — M id A tlantic
Real Estate Journal
www.marejournal.com
F inancial D igest
ashington, DC — Continuing its aggressive growth Industry veteran Dennis Duffy to lead DC office Integra Realty Resources continues national expansion, opens four new offices W
platform and industry leading technology resources to better serve our existing clients and take on larger, multi-market portfolio assignments. This strategic partnership also bet- ter positions us to attract top talent, as we look to expand our reach.” Duffy has been valuing complex properties in the Mid- Atlantic region for more than three decades. His practice has focused on large, compli- cated sales transactions and has handled from 20-35 per- cent of all major commercial real estate sale transactions in
serve as senior managing director. The office opens alongside new offices includ- ing, IRR-Northern New Jer- sey, IRR-Philadelphia, PA, and IRR-Fort Worth. In less than 18 months, IRR has added a dozen new offices in San Francisco, Sacramento, Chicago, Puerto Rico, Aus- tin, San Antonio, Houston, and Dallas and launched IRR-Hotels, a hotel specialty practice group. “Unlike other firms that parachute into markets for an assignment, Integra takes pride in delivering property
valuation and consultation the right way—with a national platform supported by on- the-ground market experts to ensure clients have the most accurate information they need to make informed decisions,” said Anthony Graziano, MAI, CRE , chairman of IRR. “We’re pleased to be able to reestablish a local market pres- ence in Washington, DC and will continue to make strategic moves to rebuild and grow our geographic footprint with syn- ergistic partners like Dennis.” Duffy added, “Joining In- tegra provides a national
DC Metro area on an annual basis. Duffy brings exten- sive experience in litigation related assignments, valua- tions for pension fund related entities and their required financial reporting needs, and valuations of all property- types under complex ground lease agreements. He is also a widely published author and frequent speaker at industry forums. Integra Realty Resources (IRR) is the largest indepen- dent commercial real estate valuation services firm in NorthAmerica, coveringmore than 60 markets with nearly 700 employees throughout the United States, and the Caribbean. The firm special- izes in real estate appraisals, feasibility studies, market studies, expert testimony, and related property consult- ing services. Many of the na- tion’s largest and most pres- tigious financial institutions, developers, corporations, law firms, and government agen- cies are among IRR’s clients. In 2017, IRR completed more than 23,000 assignments across 60 metro markets to- taling more than $257 billion in asset value. n Progress Capital negotiates the terms of loan on behalf of West of Hudson Properties NEWARK, NJ — Fully renovated in 2007, the two- building 70-unit apartment complex at 10-36 Osborne Terrace and 9 Hedden Ter- race was brought to the mar- ket in late 2017. Working with Progress Capital’s Brad Domenico , ‘West of Hudson Properties’ sought to acquire the subject property – adding it to an already robust North Jersey multifamily portfolio. Domenico negotiated a $5.265 million non-recourse permanent mortgage with 5 years interest-only at a fixed rate of 3.86%. The loan represents a 65% Loan to Purchase Price accompanied by a 20 year term and 30 year amortization. After the 5 year interest-only period the rate will reset at 6 month LIBOR + 3.25%. In addition, The borrower will adhere to a 3-1-0-0-0 declining prepay- ment schedule. n
strategy, In- tegra Real- ty Resourc- e s ( IRR) , announced t h e o p e n - ing of four new offices i n c l ud i ng , IRR-Wash - ington, DC.
Dennis Duffy
IRR-Washington, DC opens under the leadership of 30- year industry veteran Den- nis Duffy, MAI , who will
Made with FlippingBook - professional solution for displaying marketing and sales documents online