Data Loading...
- DC
M Clients are a balance of institutional investors & private individuals Gebroe-Hammer Associates tops rivals with 5,645 units sold for $775+M in Q1 &Q2 ulti-family invest- ment brokerage firm Gebroe -Hammer
ISSUE HIGHLIGHTS Volume 30, Issue 15 August 10 - 23, 2018 1031 EXCHANGE MULTIFAMILY FINANCING Section 8-11A D2 CAPITAL ADVISORS SECURES $70M BRIDGE FINANCING
nationally,” said Uranowitz. “A good percentage of our cli- ent base remains balanced between institutional investors and private individuals – many of whom have been associated with our firm since its inception 43 years ago and form the back- bone of multi-family ownership in the region.” While initially concentrating on and dominating the multi- family property space in New Jersey, Gebroe-Hammer has evolved during the past 43 years to establish a major presence in the northeastern Pennsylvania and New York State submar- kets as well as represent client interests nationally. “The first six months have been extremely robust in terms of deal totals and units sold, with demand for every as- set class – from Class-A to value-add B/C product – hit- ting all-time high levels,” said Uranowitz. “Apartment build-
ings, regardless of vintage or tenant demographic, are the frontrunner on investor lists that cover the full spectrum of neighborhoods from transit- rich cities that are all the rage among millennials to commut- er-friendly suburban-bedroom communities.” Gebroe-Hammer’s notable sales highlights during Q1 and Q2 mirror these trends. In early June, the firm finalized a groundbreaking $328M portfo- lio sale of 118 buildings/2,137 units spanning NJ’s Gateway Region of Hudson County. Ex- clusively representing a single seller, over the course of 18 months Gebroe-Hammer ar- ranged six separate deals of the urban low- and mid-rise proper- ties poised for repositioning. Other key NJ trades have involved several prominent properties throughout the state. These include the $56M sale of Thousand Oaks Village, a
304-unit garden community in Atlantic Highlands; $50M sale of 452 multi-family units at Forest Hill Terrace Apart- ments, a critical-mass garden- apartment community in New- ark’s tree-lined North Ward; and $30M sale of Donaldson Park Apartments in Highland Park. New price-per-unit bench- marks also were set in East Orange ($257K+/742 Park Ave.) and Cranford/Union County ($337,500/The Hamlet). “Our success is directly tied to every broker we have deeply en- trenched in individual territo- ries,” said Uranowitz. “Because of their unrivaled knowledge of market values and current active investors, they are able to achieve maximum value for owners. Despite upticks in interest rates, cap rates have not decompressed remarkably while demand continues to be voracious for multi-family product.” employers, the MARC train, and commuter accesses in- cluding I-95, Hwy. 100, and BWI Airport. The 12-year loan is struc- tured with eight years of in- terest-only payments, followed by a 30-year amortization. The transaction was led by managing directors Matthew Hodson and Debra Gold- stein of M&T Realty Capital Corporation’s Falls Church, VA and Washington, DC of- fices, respectively. M&T Bank senior commercial real estate relationship manager LeVar Crooms also collaborated on the transaction. “Matt and I are delighted to have been able to assist Elm Street with their permanent fi- nancing needs for this wonder- ful new community,” Goldstein said. “Our Freddie Mac Multi- family loan programs provide long-term, non-recourse financ- ing to experienced developers, whether during lease-up or after full occupancy has been obtained.”
Associates is outpacing its competitive set on a regional and national level with a re- ported $775+M in sales encom- passing 5,645 units for Q1
Ken Uranowitz
and Q2 2018, according to Ken Uranowitz , president. The firm serves a diverse client base of private individuals, private equity firms and institutional investors focusing on suburban and urban high-rise and garden- apartment properties. “These latest milestones have shored up Gebroe-Hammer’s posture within the multi-family investment brokerage space as the firm of choice among private and institutional in- vestors locally, regionally and
3A
Hodson and Goldstein lead transaction with Crooms collaboration M&T Realty Capital provides $62.45M in permanent financing on recently constructedmultifamily prop.
MAREJ EVENTS September 20, 2018 NJ Apartment/Multifamily October 5, 2018 3rd Annual New Jersey CRE Leadership Summit For speaking and sponsorship information, please contact: Lea at 781-740-2900 or [email protected]
JESSUP, MD — M&T Re- alty Capital Corporation has closed a $62.45 million Freddie Mac Multifamily Conventional loan for the per- manent financing of The Elms at Shannon’s Glen, a 364-unit recently constructed apartment complex in Jessup. The project developer is Elm Street De- velopment , based in McLean,
Matthew Hodson
Debra Goldstein
LeVar Crooms
Directory
Financial Digest..........................................................3-11A Multifamily Financing. .................................................5-7A 1031 Exchange...........................................................5-12A DelMarVa.............................................................. 15-18A Central New Jersey Spotlight..................................... 5-9B New Jersey Professional Directory. ....................... 14-15B Pennsylvania......................................................Section C Central Pennsylvania Spotlight................................ 5-12C
www.marejournal.com Upcoming Spotlights 40 under 40
The Elms at Shannon’s Glen
VA. M&T Bank provided the prior construction financing for the project. The Elms at Shannon’s Glen is located west of the
Baltimore-Washington Pkwy., biking distance to National Business Park and National Security Agency, and conve- nient access to other regional
Inside Cover A — August 10 - 23, 2018 — M id A tlantic
Real Estate Journal
www.marejournal.com
OPPORTUNITIES ABOUND at New Jersey’s Largest and Most Dynamic Conference For Housing and Economic Development Professionals!
SPOTLIGHT YOUR COMPANY AS AN EXHIBITOR The Governor’s Conference on Housing and Economic Development is a once-a-year opportunity to showcase your brand and build new relationships among key leaders from across the state in business and economic development, housing, government, financial institutions, nonprofits and many more! Don’t miss your chance to take advantage of the opportunity to join Governor Phil Murphy and other key leaders from across New Jersey at the state’s premier housing and economic development forum. YOUR BOOTH PACKAGE INCLUDES: • Registration for two booth personnel, including breakfasts and brunch • Listing in the printed conference program book Join Us October 2-3!
2018’s conference is hosted by:
D
DEPARTMENT OF
New Jersey Housing and Mortgage Finance Agency www.njhousing.gov
• Listing on our website, www.njhousingconference.com • One draped 6-foot table, two chairs, and a wastebasket
CA
The deadline to reserve exhibitor space is August 13 so don’t wait! Become part of our conference today!
Community AFFAIRS
Register Online Today www.njhousingconference.com
Real Estate Journal — August 10 - 23, 2018 — 1A
www.marejournal.com
M id A tlantic
Creating greater wealth for our clients by achieving better results.
COLLABORATIVE CULTURE + RELATIONSHIP FOCUSED + DEFINED EXPERTISE
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States specializing in the sale of single tenant net-lease assets and retail shopping centers. We have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. We have a dedicated buy side desk that provides real time inventory and market >Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56 Page 57 Page 58 Page 59 Page 60 Page 61 Page 62 Page 63 Page 64
Made with FlippingBook - Online catalogs