FINANCING
BIG DEAL Glenn Thomas , CCIM , with Pathway Capital Corp . in Nyack , N . Y ., arranged for a $ 73.5 million loan through Madison Capital Realty for an eight-property portfolio in New Jersey .
Devin Lee , CCIM , and a colleague arranged the $ 5.6 million financing for MCR Apartments , a 111-unit multifamily property in Las Vegas , for LMNOP Properties LLC .
Tim Tran , CCIM , with the Ivy Group in Fremont , Calif ., represented both undisclosed parties in financing the more than $ 3.17 million SBA loan for a 11,416-sf industrial property in Union City , Calif .
John Trost , CCIM , with SVN | Alliance Commercial Real Estate Advisors represented both undisclosed parties in financing the more than $ 3.11 million loan for Lakeside Executive Park , a 24,000-sf office property in Port Orange , Fla .
HOSPITALITY
BIG DEAL Hugh Wade , CCIM , with Spire Commercial in Anchorage , Alaska , represented The New Lion LLC in the $ 9.3 million sale of a 60,290-sf hotel property to the Municipality of Anchorage .
Glenn Thomas , CCIM
Hugh Wade , CCIM
Mark Illsley , CCIM
Brian Resendez , CCIM , with SVN | Bluestone & Hockley in Portland , Ore ., represented an undisclosed seller in the $ 3.25 million sale of a 132-unit hotel property in Spokane , Wash ., to Kapoor & Kamal LLC .
SPECIALTY
BIG DEAL Mark Illsley , CCIM , and two colleagues with CRBE in Phoenix represented both buyer and seller in the $ 15.25 million sale of Gig Harbor RV Resort , a 10.9-acre , 115-site property in Gig Harbor , Wash .
Robert Adams , CCIM , with Adams Commercial Real Estate represented the Urban Redevelopment Agency of the City of Decatur in its more than $ 4.92 million purchase of a 22,000-sf specialty property in Decatur , Ga ., from Boys & Girls Clubs of Metro Atlanta .
Cameron Jeffs , CCIM , with Coldwell Banker Commercial represented an undisclosed seller in the $ 4.15 million sale of a 29-acre specialty property in Pescadero , Calif ., to Lemon Hill LLC .
Curtis Skomp , CCIM , with RE / MAX All Keys Real Estate in Key West , Fla ., represented an undisclosed seller in the $ 5 million sale of a marina in Marathon , Fla ., to an undisclosed buyer .
CCIM ROI
TOM FENNELL , CCIM , AND TRAVIS HANSEN , CCIM
Considering the immediate and all-encompassing impact of the COVID-19 pandemic ’ s first wave last year , it ’ s easy to forget the extended timeline of many transactions in commercial real estate . Whether buying acres of vacant land or selling a downtown retail location , many people look well beyond 12 , 24 , or 48 months .
After the initial shutdown in the U . S ., Tom Fennell , CCIM , with Dickson Commercial Group in Reno , Nev ., met with a client looking to expand — and expand quickly — due to business growth related to COVID-19 . Fennell eventually came across an 89,259-sf industrial property on the market . Represented by Travis Hansen , CCIM , the undisclosed seller discovered just how competitive the market was for available warehouse space .
“ There were competing offers for the site ,” Fennell says .
“ The buyer that was awarded the deal had to move quickly and put up nonrefundable money upon the opening of escrow , which speaks to the competitiveness and lack of inventory in our market .”
The two sides also negotiated a phased leaseback after the closing to accommodate the seller while it found a secondary location for its operations . Fennell and Hansen were both happy to be dealing with industry-leading professionals while tying up the loose ends of a time-sensitive and intricate transaction .
“ We always find another CCIM [ designee ] great to work with because they have an added level of competency ,” Fennell says . “ Considering the added complexity of this transaction during COVID-19 , it was reassuring to know I was working with an experienced and knowledgeable counterpart .”
48 COMMERCIAL INVESTMENT REAL ESTATE MAGAZINE SPRING 2021