Member News  

NAIOP Member News offers members the opportunity to promote important announcements from their company. These include personnel transactions (hirings, promotions), company news (awards, relocations, stock reports, mergers and acquisitions) and deals (purchases, sales, major financing, awarding of property management contracts, groundbreaking and topping off, leases and land sales).

Submit your news using the online form. NAIOP will review submissions for length, clarity and appropriateness. Press releases sent directly to NAIOP may not be included.

02/14/2019 Deal

Dermody Properties Acquires 13.53 acres in Riverside, Calif. for new LogistiCenter(SM)

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, has acquired an approximate 13.53-acre site in the Meridian Business Center in Riverside, Calif. Dermody Properties commenced construction of a 257,260-square-foot cross dock distribution facility, which the company estimates will be complete in Q2 of 2019. The new development will be called LogistiCenter at Park Meridian. LogistiCenter, a nationally trademarked brand owned and developed by Dermody Properties, represents the company’s business philosophy of developing Class A distribution and logistics facilities that meet the supply chain requirements of the most innovative companies. The site is located in the master-planned Meridian Business Park, the premier business park in the I-215 South Corridor, which is home to a variety of corporate occupiers, including United Parcel Service, Kia Motors, Sysco Corporation, McLane Foodservice, the University of California and others. The site has immediate access to I-215 via the recently re-engineered and expanded Van Buren Boulevard interchange, and the nearby Cactus Avenue and Alessandro Boulevard interchanges. Meridian Business Park is located three miles south of the I-215/SR-60 interchange. The 430-foot deep cross dock building will contain up to 56 dock doors, two grade level doors and 46 trailer parking stalls. The site plan features 135’ and 185’ secured truck courts, and the clear height will be 32 feet at the first column line. Phil Lombardo and Chuck Belden of Cushman and Wakefield represented all parties in the sale and will be the leasing brokers for the project. RGA is the architect for the building and Fullmer Construction is the general contractor.

Contact: Chrisie Yabu, 775-686-7437

02/07/2019 Deal

CAPROCK PARTNERS SELLS COMMERCE WAREHOUSE

CapRock Partners

Newport Beach, Calif. – February 6, 2018 – CapRock Partners, a California-based industrial real estate investment and development firm, today announced the sale of a 97,000-square-foot industrial warehouse in Commerce, Calif. CapRock Partners acquired the property in November 2017 in an off-market transaction complementary to the firm’s value-add investment strategy. After a short hold, and strong interest from its long-term tenant, CapRock Partners sold the building and 4.32-acre property to the packaging solutions supplier who has occupied the property for several years, for an undisclosed amount. “This transaction was a win for both buyer and seller,” said Jon Pharris, co-founder and president, CapRock Partners. “Given that the property is located in arguably the country’s tightest industrial market and has unique amenities such as rail spurs and I-710 Freeway frontage we were confident we could unlock intrinsic value in the real estate. Thus, after acquiring the asset, our team unearthed an opportunity to provide a mutually beneficial solution to the current tenant.” The warehouse is located at 5331 and 5333 Slauson Avenue in Commerce, one of California’s strongest industrial submarkets. Wedged between I-710 and I-5 and intertwined with intermodal thruways, Commerce is an integral logistics hub for global manufacturers and transportation businesses. This submarket saw record-high occupancy in 2018, with CBRE reporting vacancy of 1.1 percent in the fourth quarter, and over 15 percent year-over-year rent growth. The property’s location is accessible to prime transportation routes, which lead directly to the ports of Los Angeles and Long Beach, in addition to nearby rail and air transportation. “With little developable land, the Commerce property enabled CapRock to unlock value for the right owner-user,” added Patrick Daniels, chief executive officer, CapRock Partners.

Contact: Nicole Deermount, 714-263-8746

02/06/2019 Company News

H. HENDY ASSOCIATES COMPLETES RENOVATION OF EASTERSEALS SOUTHERN CALIFORNIA’S NEW AUTISM THERAPY AND DISABILITY SERVICES CENTER

H. Hendy Associates

H. Hendy Associates (Hendy), a Newport Beach-based interior architecture and planning firm, has completed the renovation of a center that integrates autism therapy and disability services with administrative offices for Easterseals Southern California, the local chapter of the 501(c)(3) nonprofit offering indispensable resources and services to 13,000 children and adults with disabilities and their families across the region. Hendy led the interior and exterior renovation of the nearly 40,000 square-foot, two-story building, which is located at 1063 McGaw Ave. in Irvine, Calif. Hendy delivered on Easterseals’ two-fold vision to create a branded space that offers both an inviting and playful experience for special-needs clients, and a functional space that enhances the wellbeing of its employees. The project earned Hendy the 2018 CoreNet Global Southern California Chapter REmmy Award in the Innovative Workplace Less than 50,000 SF category. The award recognizes teams whose collaboration and vision on a specific project raise the bar for corporate real estate in Southern California, and bring innovation and sustainability to the workplace. Inspired by the former Easterseals logo, a lily symbolizing growth and new beginnings, Hendy’s design incorporates greenhouse-motivated elements to metaphorically signify protection, nurture and growth from seedlings to full bloom. This theme can be observed in patterns of seeds and sowed fields crafted in plaster-covered walls throughout the building, the skylight-lit staircase with terrariums hanging from the walls, and in the bold and vibrant oversized photographs of floral blooms from local artist Laura Lejuwaan. “With this new office, we did not want clients to feel like they were walking in a healthcare, corporate or institutional environment, said Sonaly Dudheker, senior associate at H. Hendy Associates. “Instead of a traditional lobby, we chose to add warmth and playfulness to the space, prioritizing comfort and the space’s durability.”

Contact: Angelyssa Granillo, 909-576-1758

02/06/2019 Company News

MBK RENTAL LIVING AND R.D. OLSON CONSTRUCTION TEAM UP ON 330-UNIT LUXURY APARTMENT PROJECT IN MENIFEE MASTER-PLANNED COMMUNITY

R.D. Olson Construction and MBK Rental Living

MBK Rental Living and R.D. Olson Construction announce the groundbreaking of Artesa at Menifee Town Center, a Spanish mission-style apartment community in the heart of Menifee. Offering urban-style living in a small-town setting, the MBK Rental Living community will include 37 two- and three-story walk-up apartment buildings with one-, two- and three-bedroom options. The 15-acre apartment complex is R.D. Olson Construction’s third multifamily project in Riverside County and the largest in the firm’s history. “One of our main goals with Artesa at Menifee Town Center is to create a walkable and vibrant ‘urban’ environment, which is something that is lacking in the area,” said Craig Jones, president of MBK Rental Living. “The more options and attractions that a town center provides amount to more human connections and that all-important sense of place.” Located at 30414 Town Center Drive near Interstate 215, Artesa will offer residents eight floor plans with apartment units ranging from 820 to 1,322 square feet and feature luxury interior finishes including modern cabinetry, quartz countertops, stainless-steel G.E. appliances and distinctive wood-style flooring. Tenants will enjoy a host of community amenities including two fitness centers, a resort-style pool and spa, barbeque area, dog park, a mix of outdoor communal spaces, and a large clubhouse with full kitchen. “We are honored to work with MBK Rental Living to bring a much-anticipated option for luxury living to residents in the fast-growing city of Menifee,” said Bill Wilhelm, president of R.D. Olson Construction, an award-winning general contracting firm commemorating 40 years of building in California. “This project bolsters our multi-unit housing portfolio and enables RDOC to foster a new and exciting relationship with MBK Rental Living, an organization that shares equally in our deep commitment to people, quality and excellence.” Project partners include SummA Architecture, Gouvis Engineering, Alliance Land Planning, and Sitescapes.

Contact: Angelyssa Granillo, 909-576-1758

02/05/2019 Company News

NAI Belize Office Opened by Two Minnesota Real Estate Professionals

NAI Belize

SAN PEDRO, BELIZE -- Barrier Reef Drive is home to the new NAI Belize Commercial Real Estate office. Sotheby’s International Realty’s office has been turned over to NAI Belize, a full-service commercial real estate company. NAI Belize acquired Sotheby’s International Realty’s property management clients, and will expand services to include commercial leasing, sales, development and investments. NAI Belize was formed by the owners and operators of USA based company, MN Real Estate Ventures, Ltd. The two principal owners of NAI Belize are Jeremy “JB” Brown and David Schooff (CCIM SIOR). Both partners formed NAI Belize after facilitating sales, leasing and development opportunities in Belize from their respective US based companies. “MN Real Estate Ventures, Ltd. is pleased to announce the partnership with NAI Global, giving us the opportunity to expand our footprint in commercial real estate sales, leasing, property development and management outside of the United States,” said David Schooff, Broker/Owner, NAI Belize. Jeremy Brown, Owner, NAI Belize, added, “The growth in the Belize market is unprecedented and we have assembled a strong team to manage a multitude of real estate investment portfolios with expertise in business brokerage, hospitality, retail, office, multifamily and investment land development. NAI Global provides us with the platform to best serve our customers in bourgeoning marketplace.” The office will remain fully operational during the transition. For more information call (501) 226-4309. About NAI Belize NAI Belize is an affiliate of NAI Global and provides a comprehensive range of professional commercial real estate services, including site acquisition and evaluation, tenant and buyer representation, brokerage, development, investment and property management. The NAI Belize office is located in San Pedro on Ambergris Caye and was established in 2018 by MN Real Estate Ventures, Ltd. More information can be found at naibelize.com. # # #

Contact: Karen Toft, 713-561-5584

02/05/2019 Company News

C.W. Driver Companies Completes $17.9 Million Mission Hills-Hillcrest Harley & Bessie Knox Public Library

C.W. Driver Companies

PASADENA AND MISSION HILLS, Calif. – Feb. 5, 2019 – C.W. Driver Companies, a legacy builder celebrating 100 years of service to the Western United States in 2019, today announced the completion of the Mission Hills‐Hillcrest Harley & Bessie Knox Public Library. The new one-story, 15,000-square-foot building is four times the size of the former library and will serve the Mission Hills and Hillcrest neighborhoods. Located on the southwest corner of West Washington and Front Streets, the construction project includes a 30,000-square-foot, two‐story underground parking structure with 85 parking spaces and the formation of an adjacent cul‐de‐sac at the end of Front Street. Manuel Oncina Architects and Ferguson Pape Baldwin Architects worked alongside C.W. Driver Companies to design the library, incorporating both traditional craftsman and contemporary styles. The mission-style entry opens to an impressive lobby with 25‐foot‐high ceilings featuring trusses, trellises and a skylight, as well as a traditional reading room. Environmentally efficient elements such as rooftop solar panels instill energy cost savings and ensure LEED® Gold certification. The surrounding landscape incorporates drought tolerant plants. The new library is also designed to incorporate how community members learn, work and utilize civic space in the new era, providing larger gathering spaces and technological resources. The library’s community room will be the focal point for extensive library programs and community gatherings, such as hosted author talks, civic events and community celebrations. This spacious adaptable room features audiovisual equipment and opens to the 1,400-square-foot outdoor patio, considered the building’s “front porch,” with large accordion-style glass doors.

Contact: Jade Terry, 714-263-8752

02/04/2019 Company News

C.W. Driver Companies Completes Construction of $73M Cal Poly Pomona Student Services Building

C.W. Driver Companies

POMONA AND PASADENA, Calif. – February 4, 2019 – C.W. Driver Companies, a premier builder serving California since 1919, today announced the completion of the new student services building at California State Polytechnic University, Pomona. Serving as a new “front door” to the university, the three-story, 138,400-square-foot structure consists of two buildings beneath a one-of-a-kind undulating roof that uses natural solar power to regulate the building’s temperature and energy efficiency. The new student services building plays a critical role in the long-term development of the university, increases operational efficiency and enables growth. It replaces former student services and administration areas and consolidates key departments located elsewhere on campus. It also will serve as an easily accessible, one-stop service center to facilitate access, increase visibility and streamline operations for students and staff. “Cal Poly Pomona’s new student services building’s incomparable aesthetic and energy efficient design make it a perfect fit for an institution nationally recognized for its unique approach to learning and advancements in engineering,” said Jeff Marshall, senior project manager at C.W. Driver Companies. “C.W. Driver is proud to bring its expertise constructing challenging projects for colleges and universities to this campus and be a part of a project as special as this.” Inspired by Pomona’s surrounding hills and mountains, the structure’s roof design helped the building achieve its LEED Platinum Certification. Without the use of mechanical and electrical devices, the roof efficiently collects, stores and distributes solar energy in the form of heat in the winter and rejects solar heat in the summer. Designed by CO Architects, the intricate curved steel and concrete roof regulates the building’s temperature through its solid and perforated panels. The roof shades the exterior glass windows, reducing glare and maximizing natural daylight.

Contact: Nicole Deermount, 714-263-8746

01/29/2019 Deal

Atisa Completes Tijuana-Based Manufacturing Plant for Dynasty Golf

ATISA Industrial

Atisa Industrial Leases Space at Coral Building to Dynasty Golf Atisa Industrial signed a lease with Dynasty Golf for the Coral Building, a 28,690 square foot manufacturing plant located in the Pacifico Industrial Park, Tijuana, Mexico. The building will house golfing equipment manufacturing. This building represents Dynasty’s first operation in Mexico. Octavio McFarland of NAI represented Atisa. "[It is a] beautiful building, and surprisingly, after the rains and storm from last week, not a single leak, which is very uncommon in new buildings," remarked Octavio Cisneros, plant manager at Dynasty. "We received an extraordinary service from the Property Management team,” Cisneros added, “We did some last minute changes to the office layout and, at no cost and right the next day, [Atisa] presented a new proposal to fit our needs."

Contact: Rick Chatham, 253-988-8802

01/22/2019 Personnel News

Dermody Properties Establishes Atlanta Office and Hires Industrial Real Estate Veteran Greg Ryan as Partner for Southeast Region

Dermody Properties

Dermody Properties, a national real estate investment, development and management company specializing in acquisitions and development of logistics properties, has hired Greg Ryan as the Partner managing its newly defined Southeast Region. The region’s headquarters will be based in Atlanta. Ryan will be responsible for all land and building acquisitions, build-to-suit projects, development activities, customer relations and asset management in the Southeast Region. Before joining Dermody Properties, Ryan was Managing Partner at Cardinal Industrial in Atlanta, where he ran the investment management function and acquisitions for the eastern half of the U.S. Ryan spent most of his career with IDI Gazeley (formerly IDI) in many leadership roles such as Head of Operations, Managing Director Investment Management, and Managing Director Acquisitions with responsibility for investment management, acquisitions, dispositions, asset management, leasing, property management and day-to-day operations. He served on the firm’s Investment Committee, Acquisition & Development Committee and Senior Management Team. His strong relationships with brokers, investors, lenders and customers have resulted in more than $2 billion of real estate transactions, including acquisitions, dispositions, joint ventures, financings, asset management and leasing. While Head of Operations for North America at IDI Gazeley, he managed the leasing and operations of a portfolio of 50 million square feet across the nation. Ryan is a member of the Urban Land Institute and its Industrial and Office Park Development Green Council, and NAIOP and its Industrial Acquisitions I Forum. He serves on the board of directors of Clemson University’s Advancement Board of Real Estate Development and also Georgia State University’s Real Estate Department. Ryan holds a Master of Science degree in Real Estate from Georgia State University, and a B.S. in Financial Management from Clemson University.

Contact: Chrisie Yabu, 775-686-7437

01/15/2019 Company News

Boston Capital Invests in Two Affordable Multifamily Communities for Families with Southern Properties and Development in North Carolina

Boston Capital

Boston Capital is investing in the construction of two affordable apartment communities in North Carolina: Fieldcrest, a 56-unit development serving families in Farmville and The Reserve, an 80-unit development for families in Albemarle. These investments represent Boston Capital's first and second partnerships with Southern Properties and Development, based in Greensboro, North Carolina. "We are excited to team up with Tom Honeycutt, Brian Smith and Southern Properties and Development in the construction of 136 affordable homes for families in the Farmville and Albemarle areas," said Jeff Goldstein, chief operating officer and director of Real Estate at Boston Capital. "Solid job markets and growing economies are creating a strong demand for affordable housing in both areas, and we're eager to address this demand and help families and individuals in need of quality housing."

Contact: Allison E. Marino, 617-624-8678

01/15/2019 Deal

Pipedream Signs Lease with ATISA for Violeta Building

ATISA Industrial

Contact: Rick Chatham, 253-988-8802

01/15/2019 Company News

Dermody Properties acquires 265,500 SF logistics building in prime California Inland Empire West submarket

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, recently acquired a 265,500-square-foot logistics building in an established industrial business park in Fontana, Calif. Dermody Properties will make improvements to the building in the first quarter of 2019, including upgrading the fire system to ESFR, making aesthetic changes and demising the building into two spaces, although the property will be available to either a one-or two-tenant scenario. The site is located at 14605 Miller Avenue, two miles east of I-15. It is accessible via either Foothill Blvd. or Baseline Ave. and is 3.5 miles from the I-210/I-15 interchange and 5.5 miles from the I-10/I-15 interchange. It is 10 minutes from Southern California’s Ontario International Airport. Ryan Athens and Hunter McDonald of CBRE represented the seller for the acquisition. Frank Geraci, Juan Gutierrez and Adam Geiger of VOIT Real Estate Services will market the space for Dermody Properties.

Contact: Chrisie Yabu, 775-686-7437

01/14/2019 Personnel News

Brandon Goucher Named Commercial Department Account Manager at Cavignac & Associates

Cavignac & Associates

Brandon Goucher, a 15-year-veteran of the insurance industry, has been brought aboard by Cavignac & Associates s Commercial Department Account Manager. Cavignac & Associates is a San Diego-based, 55-member risk management and insurance brokerage firm with specialized expertise in the design and building industry. Goucher will be the primary contact at the agency for his assigned clients, charged with managing their exposure to risk and negotiating their insurance.

Contact: Bonnie Kutch, 619-299-1010

01/11/2019 Deal

The Suddath Companies Acquires Perdue, Inc.

Suddath

The Suddath Companies announced that it has acquired Perdue, Inc., a North Florida leader in office furniture. The union of these two century-old companies gives Jacksonville and Tallahassee customers a complete solution to plan, furnish, relocate and support their ongoing workplace environments. “Clients can expect to experience the best of both companies – a total solution for all of the planning, furniture and moving needs a business has when contemplating re-engineering or relocating its workplace,” said Mark Scullion, president of Suddath Workplace and Commercial Services. The acquisition of Perdue, the only distributor of Steelcase products located in Jacksonville and Tallahassee, gives Suddath’s clients in these markets access to the world’s leading office furniture manufacturer. Steelcase leads the office furniture industry with insight-led design and services that create inspiring, people-centered workplaces, boosting productivity and employee engagement. “As we wrap up one of our best years ever, we are thrilled to have the opportunity to become part of the Suddath organization,” said Vince McCormack, president of Perdue, Inc. “It’s the perfect time for Perdue to reach beyond our current potential and continue to grow in North Florida.”

Contact: Shelby Boyd, 850-222-1996

01/09/2019 Company News

H. HENDY ASSOCIATES COMPLETES NEW CORPORATE HEADQUARTERS FOR BEHR

H. Hendy Associates

Award-winning interior architecture and planning firm H. Hendy Associates (Hendy) recently completed a new 230,000-square-foot corporate headquarters for Behr Paint Company, one of the nation’s largest suppliers of architectural paint and exterior wood care products. Located in Santa Ana at 1801 E. St. Andrew Place, Hendy delivered a branded-office environment that reflects the history and culture of Behr and Kilz paints and primers, supports the company’s growth and inspires existing and new talent. The new office features a variety of unique, urban spaces infused with state-of-the-art business technology to support employee collaboration and cross-functional work. Spaces include formal meeting, training and war rooms; ad-hoc workstations to foster teamwork and ideation; data and innovation areas; and the Behr Den, an indoor-outdoor space featuring a large patio with tiered seating. The den can also be used as an event space and is designed to comfortably fit 500 people. A hallmark of the new space is a 30,000-square-foot, state-of-the-art research and development laboratory featuring unique graphics, art and access to natural light. Through Hendy’s creative vision, the Behr and Kilz laboratory has become a vibrant and inspirational space for the company’s R&D team to create unparalleled products and materials. “Behr’s new headquarters is a celebration of the company’s dynamic ethos, innovative mindset and respected personnel,” said Jennifer Walton, principal and project director at H. Hendy Associates. “Our goal in this design was to create an intuitive workplace that gives employees a sense of community in a space that underscores the company’s brand at every turn.”

Contact: Angelyssa Granillo, 909-576-1758

01/07/2019 Personnel News

17-Year Insurance Veteran Carlota Kienke Joins Cavignac & Associates as Commercial Account Administrator

Cavignac & Associates

Carlota Kienke, a 17-year veteran of the insurance industry, has been hired as a Commercial Account Administrator for leading San Diego-based risk management and insurance brokerage firm, Cavignac & Associates.

Contact: Bonnie Kutch, 619-299-1010

01/03/2019 Deal

Dermody Properties leases 99,640 SF in Reno to Smart Warehousing

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, recently leased 99,640 square feet at LogistiCenter℠ at 395, Phase 1, Building A in Reno, Nev. to Smart Warehousing. A third-party logistics firm, Smart Warehousing offers warehousing and fulfillment services in more than 25 locations across 12 states. PCCP, LLC is Dermody Properties’ strategic capital partner on the industrial park. George Condon, West Region Partner for Dermody Properties will manage the transaction. Smart Warehousing is expected to bring 20 jobs to the region and marks the company’s first operation center in Nevada. LogistiCenter℠ at 395 is a multi-phase, master-planned industrial park totaling more than 2.8 million square feet in the North Valleys submarket of Reno-Sparks. With the addition of Smart Warehousing, all 1.25 million square feet of LogistiCenter℠ at 395, Phase 1, Building A is fully leased. LogistiCenter℠ at 395 is within minutes of the three major shipping providers — UPS, FedEx and OnTrac. Bordering five states, northern Nevada is perfectly situated as the hub of the 11-state western region, with 53 million people within one day's drive. Trucking services are provided in the area by more than 65 local, regional and national carriers with shipments to 80% of the 11 western states occurring on a next-day basis.

Contact: Chrisie Yabu, 775-686-7437

01/02/2019 Personnel News

COX, CASTLE & NICHOLSON LLP NAMES TWO NEW PARTNERS

Cox, Castle & Nicholson

Cox, Castle & Nicholson LLP, one of the preeminent full-service law firms focused on real estate in the United States, proudly announces the election of Alexander DeGood and Christopher Stark to the firm’s partnership. DeGood and Stark each have contributed significantly to the firm’s land use and joint venture practice teams, serving as counsel on myriad complex development projects that have significantly shaped California’s real estate landscape. “DeGood and Stark’s best-in-class legal services, passion and commitment to their practices have earned them the trust and esteem of clients and peers alike,” said Mario Camara, senior partner on Cox, Castle & Nicholson’s Management Committee. “We are proud of their accomplishments and look forward to their continued achievements as they advance our capabilities in two essential practice areas of our firm.” DeGood handles zoning matters, environmental compliance and litigation, with a focus on California Environmental Quality Act (CEQA) compliance. DeGood also maintains an active litigation practice. DeGood helped secure a $35 million settlement on behalf of Forest Lawn in 2017 to remedy damage caused by Caltrans freeway construction and improper maintenance. He also served as lead counsel to Philena Properties overseeing and managing every aspect of the entitlement process for one of Los Angeles’ largest mixed-use projects, the Martin Expo Town Center. As a transactional attorney in Cox, Castle & Nicholson’s joint venture team, Stark leverages more than two decades of experience to champion acquisitions, dispositions and sophisticated development work for institutional developers and homebuilders. He has extensive experience representing developers and investors in the formation of real estate joint ventures. Stark also is experienced in M&A deals, including those that involve extensive purchase agreement negotiations and risk management analysis. He is a member of the SoCal chapter of NAIOP and Lambda Alpha Los Angeles.

Contact: Kristina Sarenas, 714-263-8750

01/01/2019 Company News

Cavignac & Associates Employees Donate More than $21,000 to Local Charities

Cavignac & Associates

Here’s a great little business story about how one Downtown San Diego insurance brokerage company and member firm set up an Employee Charity Fund to enable employees to contribute to worthwhile community causes at Christmas: As part of a 19-year-long holiday tradition, the employees of Cavignac & Associates have donated $21,000 out of their own pockets to 17 local nonprofit organizations to help the under-serviced population of San Diego, including seniors, children and teenagers, the physically disabled, veterans military families, and the homeless. Nearly all of the firm’s 55 employees participated this year.

Contact: Bonnie Kutch, 619-299-1010

01/01/2019 Company News

Boston Capital Invests In Permanent Supportive Housing Community for the Homeless in Los Angeles with Affirmed Housing

Boston Capital

Boston Capital is investing in the construction of Aria Courtesy of Towaga Smith Martin Apartments, a 57-unit permanent supportive housing development serving the homeless in the Westlake/MacArthur Park neighborhood of Los Angeles, California. This investment represents Boston Capital's 27th partnership with Affirmed Housing, based in San Diego. "With our good friend and partner Jim Silverwood and the folks at Affirmed Housing, we are excited to be involved in creating much-needed supportive housing for individuals facing homelessness in Los Angeles," said Jack Manning, president and CEO of Boston Capital. "We are thrilled to be part of a team helping fill a great need for permanent supportive housing in California, and helping individuals transition from homelessness."

Contact: Allison E. Marino, 617-624-8678

01/01/2019 Company News

Blake Cavignac Joins Cavignac & Associates as Growth & Development Advisor

Cavignac & Associates

San Diego businesses often struggle with how to effectively attract Millennials when filling positions within their companies, particularly those that are aging out and need to hire younger generation job candidates. More, they might not have protocols in place to identify, interview and select the best candidates to fit a particular position. Enter the Growth & Development Advisor who has his/her pulse on the millennial generation and guides a company on how to identify natural leaders, tailor training programs, build the right company culture, and manage millennials in the manner they desire. Such is the case at Cavignac & Associates, a downtown San Diego-based risk management and insurance brokerage firm, which recently recruited Blake Cavignac to provide this specialized expertise to help the company meet its aggressive growth goals in the coming years.

Contact: Bonnie Kutch, 619-299-1010

01/01/2019 Company News

Calkain Urban Advisors Bring Trophy $17.5M Washington, DC Neighborhood CVS to Market

Calkain

Calkain’s Jonathan Hipp, President and CEO, and Rick Fernandez, Senior Managing Director, will be bringing to market 3323 and 3325-3329 Connecticut Avenue, NW providing an exceptional opportunity to acquire 8,754 square feet of rock solid, street level, trophy Washington, DC real estate along the core retail block of the highly affluent Cleveland Park neighborhood. “This location has been in continuous operation as the neighborhood drug store since the 1950’s. Originally a Peoples Drug Store, CVS took over the space when it acquired Peoples Drug and renovated and expanded into the adjacent space at 3323 Connecticut Avenue in 2006-2007. The property underwent a complete store renovation again in 2010,” stated Fernandez.

Contact: Traci Bidinger, 703-935-0947

12/20/2018 Deal

Dermody Properties acquires 296,361 SF distribution center in Portland, Oregon

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, has acquired a 296,361-square-foot industrial manufacturing and warehouse building at 19730 NE Sandy in Portland, Ore. The property, located in the Northeast Columbia Corridor submarket, will be managed by the company’s Northwest Region office, led by Phillip Wood, Northwest Region Partner. The property has 12.09 acres of adjacent developable land, and is situated in an infill, land-constrained area. It enjoys excellent access to I-84 for east/west distribution and to I-205 which connects to I-5 for north/south distribution. The property will be available for a new customer as of Q1 in 2019. The purchase exemplifies Dermody Properties’ strategy to acquire or develop properties in land-constrained submarkets in key logistics markets across the U.S. Portland’s industrial market has experienced a dramatic shift over the past six years, with more and bigger users in the market. Portland’s population grew by 9.6 percent from 2010 to 2016, ranking it the 9th fastest growing U.S. city. This growth in metro area population has propelled strong demand from large e-commerce and distribution companies as they expand into new locations to service Portland’s growing consumer base. The Northeast Columbia Corridor is the largest and most active industrial submarket in the metro area and currently totals 38 million square feet with overall vacancy of just 6.7 percent. Over the past two years the Northeast Columbia Corridor has been the leading submarket of absorption in Portland, with 1,188,469 square feet absorbed in 2016 alone. Buzz Ellis, Paige Morgan, Craig Reinhart and Kevin Kriesien of JLL brought the opportunity to Dermody Properties. The project will be represented by JLL.

Contact: Chrisie Yabu, 775-686-7437

12/07/2018 Company News

Dermody Properties’ Annual Capstone Award Provides $50,000 to the Food Bank of Northern Nevada and BrainUp

Dermody Properties

Dermody Properties, a national real estate investment, development and management company, has announced the recipients of its Annual Dermody Properties Capstone Award. The Food Bank of Northern Nevada (FBNN) of Reno, Nev. and BrainUp of Frankfort, Ill., will each receive $25,000 to assist in their efforts during the holiday season. The Dermody Properties Capstone Award is presented each year to help nonprofit organizations address the increased need they experience during the holidays. Again this year, FBNN will use its award to help fund its School Pantry program to develop and stock food pantries in schools throughout the Washoe County School District. There are currently 21 school pantries operating in Washoe County. As part of the School Pantry program in 2017, FBNN distributed nearly 250,000 pounds of food to help over 3,800 students and their families have consistent access to healthy food. Students will take home nutritious food packages to help feed families and to ensure that children can come to school better nourished and ready to learn. Interested parties can help further the work of the FBNN’s School Pantry program by donating at fbnn.org. BrainUp works tirelessly with physicians and research professionals to one day find a cure for brain cancer. This year Dermody Properties presented $25,000 to BrainUp as part of its 3rd annual BrainUp 5K Run/Walk in Chicago to help fund brain cancer research efforts. More information, including how to donate, can be found at brainup.ngo. The Dermody Properties Annual Capstone Award is uniquely directed by the executive management committee of Dermody Properties, which includes CEO and Chairman Michael Dermody; President Douglas A. Kiersey, Jr.; Chief Financial Officer Douglas Lanning; Chief Capital Officer Kathleen Briscoe; Chief Operating Officer Elizabeth Kauchak; and Chief Acquisition Officer Timothy Walsh.

Contact: Chrisie Yabu, 775-686-7437

11/28/2018 Company News

R.D. OLSON CONSTRUCTION COMMENCES $30 MILLION RENOVATION FOR ATRIA SENIOR LIVING

R.D. Olson Construction

R.D. Olson Construction began construction on Newport Terrace Senior Living for Atria Senior Living in Newport Beach. The 120,000-square-foot assisted living community will be comprised of two parts – a new south wing and a fully renovated north building – featuring accommodation and community spaces for assisted living and memory care residents. Atria Newport Terrace Senior Living is the firm’s fifth senior housing project in Southern California and is slated for completion in summer 2020. “As baby boomers continue to enter retirement and require senior care, there’s a high demand for assisted living communities, especially in the beautiful coastal area of Newport Beach,” said Bill Wilhelm, president of R.D. Olson Construction. “We’re honored to bring new and existing residents at Atria Newport Terrace Senior Living a reimagined community that will elevate their quality of life and enhance their daily living experience.” Located at 393 Hospital Rd., the existing south building will be demolished and reconstructed as a 75,000-square-foot assisted living space featuring 85 residential units complete with kitchenettes. Amenities for residents will include a large, two-story living room with floor-to-ceiling windows and a two-story fireplace; dining room served by a new full-service kitchen; pre-dining lounge area; bistro; library and card room; theatre; activity rooms; music room; wellness rooms and an interior courtyard. The 45,000-square-foot north building, which is situated at 4000 Hilaria Way, will undergo a complete renovation to include 42 units for memory care and 42 units for assisted living. Amenities in the north building will include a country kitchen; dining rooms and gathering rooms; music room; card room; library; interior courtyard and activity rooms.

Contact: Angelyssa Granillo, 909-576-1758

11/26/2018 Deal

QuickLiquidity Loans $1.5 Million Against Portfolio of Partial Interests in Commercial Real Estate

QuickLiquidity

QuickLiquidity, a private equity firm investing in commercial real estate debt and equity nationwide, has announced that it has closed a $1.5 million loan. The loan is secured by a portfolio of illiquid and non-controlling ownership interests in over 30 different commercial real estate partnerships. The portfolio’s ownership interests are well diversified by both property type and geography. They include investments such as a 15% interest in a 405-unit apartment community in Brooklyn, NY, a 6.67% interest in a 367,000-square-foot office building in Wyomissing, PA, and a 12% interest in a 396-unit apartment community in Arlington, TX. The borrower, an experienced commercial real estate investor looked to monetize his portfolio of ownership interests in order to access capital to invest in a time sensitive real estate investment. Due to his interests being both illiquid and non-controlling, the borrower was unable to find any lender willing to use his interests as collateral until he was introduced to QuickLiquidity. QuickLiquidity has built a reputation for being the go-to lender for funding the commercial real estate deals other lenders won’t, all while providing quick underwriting, flexible terms and certainty of execution. By working with QuickLiquidity, the borrower was able to receive the capital he needed in the time frame he needed. “We have a tremendous amount of experience with purchasing and lending against minority interest positions in commercial real estate partnerships,” states A. Yoni Miller, Principal of QuickLiquidity. “Helping our borrowers with time-sensitive and complex transactions is at the heart of what we do every day. Our success is not only determined by the returns we generate, but by the relationships we build.” The borrower had received a term sheet from QuickLiquidity within only days of submitting information about his portfolio of ownership interests. It then took only three weeks for the ownership interests to be underwritten and the loan to be documented and closed.

Contact: Yoni Miller, 561-221-0881

11/19/2018 Company News

Burke Construction Group Announces Marketing Manager

Burke Construction Group

LAS VEGAS, November 19, 2018 - Burke Construction Group is pleased to announce the recent promotion of Gitana Cafasso as Marketing Manager. Gitana previously held the position of Marketing Coordinator since joining Burke in March 2017. Gitana is a 2017 graduate of the UNLV Lee Business School. While pursuing her degree she served as a Student Ambassador for the Lee Business School, worked as a Marketing Assistant for the UNLV Athletic Department and as a Marketing Intern for the NBA Summer League. During Gitana’s tenure at Burke she has built relationships among her peers by being a member of the National Association for Industrial and Office Parks (NAIOP), Nevada Contractors Association (NCA), Construction Leadership Council (CLC) and Association for Managers of Innovation (AMI). In addition, Gitana has been committed to the brand development and positioning of Burke in the market. As Marketing Manager, Gitana will continue to focus on Burke’s marketplace presence through internal and external messaging as well as the brand recognition of Burke. Kevin Burke, President & CEO, stated that “Gitana has earned this promotion with her passion, heart and work ethic.”

Contact: Jaskinder Aujla, 702-367-1040

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