refa-ct forms summer newsletter 2015 - updated.… · refa-ct • one regency drive • bloomfield,...
TRANSCRIPT
R E A L E S T A T E F I N A N C E A S S O C I A T I O N
O F C O N N E C T I C U T
Both Chapters also
worked with Habitat for
Humanity in a build:
Hartford held their build
event on May 19th in
Hartford and FW held
their build event on June
25th in Bridgeport.
Upcoming Events
August 19th: Hartford
YP Event: WayPoint
Spirits, 410 Woodland
Avenue in Bloomfield,
CT.
September 10th: REFA-
CT Gala at Great River
Golf Club in Milford, CT.
September 17th: Fair-
field/Westchester State of
the Market breakfast at
Wee Burn Beach Club in
Darien, CT.
Mark your calendar!
The summer is already
half over, and we will
soon enter the third quar-
ter. Does time seem to
go by quicker than it did
when we were kids?
Both REFA chapters
hosted great events in the
first half of 2015:
January: Economist
Nick Perna
March: How to Outper-
form the Market-Creating
Opportunity & Value;
“For Sale”- “For Rent”-
Forecast? Commercial
Mortgage Finance-Too
Much, Too Cheap?
April: The New New
Haven; Ben Barnes-State
of CT Office of Policy
and Management.
May: Norwalk Rising
June: Hartford’s Mayoral
Forum
June: Golf Outing at
Race Brook Country
Club.
Breakfast Program:
Robert Weisz of RPW
Group
And our Young Profes-
sionals have been busy,
too!
March: March Madness
was celebrated by both
Chapters: FW at Sign of
the Whale in Stamford,
and Hartford at McLad-
den’s in West Hartford.
Hartford’s YP’s met with
Tony Amenta of Amen-
ta/Emma Architects for
their Breakfast Series.
REFA-CT has formed a Young Professionals Network
(YPN) with the objective of assisting individuals that
are new to, or lightly experienced, in the commercial
real estate industry and who desire to better establish
themselves within the professional commercial real
estate community.
If you wish to join the Young Professionals Network,
please contact Shannen at [email protected].
REFA-CT fo r ms
Young P ro f ess iona l s Ne twor k
I n s i d e th i s i s su e :
Hartford YPN 2
F/W YPN 3
Program Pictures 4
Golf Sponsors 5
Golf Outing Photos 6
2015 Gala 7
FW Sponsors Dinner 8
Hartford Sponsors
Dinner
9
Transactions &
Industry News
10
2015 Sponsors 11
12
Meet the Leadership 13
14
Member Benefits/
Sponsorship
15
H A R T F O R D C H A P T E R ’ S Y O U N G P R O F E S S I O N A L S N E T W O R K
H A B I T A T F O R H U M A N I T Y B U I L D
P a g e 2
For more in fo rmat ion :
C ontac t Ke l sey Ra t h a t Ta l co t t
Rea l ty I nves t o r s :
k ra th@ta l co t t l l c . com or
Shannen Tack a t
s t ack@ssmgt . com
P a g e 3
For more in fo rmat ion :
Con tac t De rek Eak in a t
R ive rOak I nves tmen t Co rp :
d . eak in@r ive roak i c . com o r
Shannen Tack a t
s t ack@ssmgt . com
REFA-CT • One Regency Drive • Bloomfield, CT • 06002 • 860-243-3977 • www.refact.org
F A I R F I E L D / W E S T C H E S T E R C H A P T E R ’ S Y O U N G P R O F E S S I O N A L S
N E T W O R K H A B I T A T F O R H U M A N I T Y B U I L D
L O O K W H A T W E ’ V E B E E N U P T O ! P a g e 4
Fairfield/Westchester Chapter
How to Outperform the Market - Creating Opportunity &
Value
Hartford Chapter
“For Sale” “For Rent” Forecast
Fairfield/Westchester Chapter
Norwalk Rising
Hartford Chapter
Mayoral Forum
Fairfield/Westchester Chapter
Breakfast Program with Robert Weisz, RPW Group
REFA-CT • One Regency Drive • Bloomfield, CT • 06002 • 860-243-3977 • www.refact.org
M AN Y T H A NK S T O O U R GO L F O U T I N G S P O N S O R S
T O U R N A M E N T S P O N S O R S
P E O P L E ’ S U N I T E D BAN K
R E C KS O N , A D IV I S IO N O F S L GR E E N
R E G I S T R A T I O N G I F T : F . D . R I C H
D I N N E R : F A R M I N G T O N B A N K
L U N C H : S E A B O A R D P R O P E R T I E S
C A R T : S T E W A R T T I T L E
N E T W O R K I N G S O C I A L : S E A B O A R D P R O P E R T I E S
D R I V I N G R A N G E : N O R T H M A R Q C A P I T A L
H O L E I N O N E : G H D S E R V I C E S
B E V E R A G E S / S N A C K S : M E R R I T T 7 V E N T U R E L L C
T O W E L S : F I R S T A M E R I C A N T I T L E I N S U R A N C E
G O L F B A L L S : B E R K A D I A C O M M E R C I A L M O R T G A G E
S E N T R Y C O M M E R C I A L
T E E S : C B R E , C U S H M A N & W A K E F I E L D , D A V I D A D A M R E A L T Y , H B N I T K I N
G R O U P , H R P A S S O C I A T E S , L E X I N G T O N P A R T N E R S , I N T E R S C A P E
C O M M E R C I A L E N V I R O N M E N T S , O F I , P U L L M A N & C O M L E Y , R M S
C O N S T R U C T I O N , R O B I N S O N & C O L E , T H E S I M O N K O N O V E R C O M P A N Y ,
S U M M E R S T R E E T A D V I S O R S , U N I O N S A V I N G S B A N K
A N D T HE W I N NE R S A R E … .
1 S T L O W N E T : L I Z G O R G O G L I O N E , K E L S E Y R A T H ,
D E R E K E Z O V S K I A N D V I N B E R G I N
( T H E I R N A M E S W I L L B E A D D E D T O T H E R E F A T R O P H Y C U P )
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A N OT H E R G R E AT DAY. . .
R E FA GO L F O UT I N G - J U NE 2 2 , 2 0 1 5
REFA-CT • One Regency Drive • Bloomfield, CT • 06002 • 860-243-3977 • www.refact.org
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R E FA - C T G AL A
S E P T E M B E R 1 0 T H
G R E AT R I VE R GO L F C L UB , M I L F O R D
OVER 30 YEARS AGO, the Capitol Steps began as a group of Senate staffers who set out to satirize the very people and places that employed them. In the years that followed, many of the Steps ignored the conventional wisdom ("Don't quit your day job!"), and although not all of the current members of the Steps are former Capitol Hill staffers, taken together the performers have worked in a total of eighteen Congressional offices and represent 62 years of collective House and Senate staff experience.
Since they began, the Capitol Steps have recorded over 35 albums, including their latest, Mock the Vote. They've been featured on NBC, CBS, ABC, and PBS, and can be heard twice a year on National Public Radio stations nationwide during their Politics Takes a Holiday radio specials.
The Capitol Steps were born in December, 1981 when some staffers for Senator Charles Percy were planning entertainment for a Christmas party. Ronald Reagan was President when the Steps began, so co-founders Elaina Newport, Bill Strauss and Jim Aidala figured that if entertainers could become politicians, then politicians could become entertainers! Their first idea was to stage a nativity play, but in the whole Congress they couldn't find three wise men or a virgin! So, they decided to dig into the headlines of the day, and created song parodies & skits which conveyed a special brand of satirical humor that was as popular in Peoria as it was on Pennsylvania Avenue.
Most cast members have worked on Capitol Hill; some for Democrats, some for Republicans, and others for
politicians who firmly straddle the fence. No matter who holds office, there's never a shortage of material.
Says Elaina Newport, "Typically the Republicans goof up, and the Democrats party. Then the Democrats
goof up and the Republicans party. That's what we call the two-party system."
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F A I R F I E L D / W E S T C H E S T E R C H A P T E R S P O N S O R S D I N N E R
O U T G O I N G P R E S I D E N T D E A N N A P O L I Z Z O A C C E P T S A ‘ T H A N K Y O U ’
G I F T F R O M I N C O M I N G P R E S I D E N T J A C K M U L L E N
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H A R T F O R D C H A P T E R S P O N S O R S D I N N E R
REFA-CT • One Regency Drive • Bloomfield, CT • 06002 • 860-243-3977 • www.refact.org
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O U T G O I N G P R E S I D E N T M A R K V A S I N G T O N ( F A R L E F T ) ‘ W E L C O M E S ’
I N C O M I N G P R E S I D E N T J O H N C L A R K ( F A R R I G H T )
Jeff Dunne of CBRE negotiated the $12.4 million sale of 100 Mill Plain Road in Danbury, CT, a 91,553 s/f Class A office building for Lemle Danbury LLC. He was also responsible for procuring the buyer, New York based EVO Real Estate Group, LLC.
Represented 535 Connecticut Avenue, LLC, a joint venture of KABR Real Estate Partners and Blackpoint Partners, in the sale of 179,000 s/f office building in Norwalk, CT. He was also responsible for procuring the buyer, Matrix Investment Group. LLC.
Robert Ranieri of NorthMarq Capital arranged financing of $14 million for Windsor Gardens Apartments, a 296-unit multifamily property in Rochester, NY.
Arranged financing for two multifamily properties in Milford, CT. The two-Milford Beach Apartments, a 244-unit multifamily property, and Newport Apartments, a 160-unit multifamily property, received refinancing totaling a combined $13.3 million.
Penny Wickey of Saugatuck Commercial Real Estate represented the sellers of three mixed-use properties totaling 95,000 s/f in Cos Cob and Old Greenwich. The property in Cos Cob is a three-story, 48,000 s/f mixed use property located on Rte. 1. The property in Old Greenwich includes several mixed-use properties, totaling 40,000 s/f. The properties were purchased by Urstadt Biddle for $47.4 million.
Ernie DesRochers of NorthMarq arranged refinancing of $6.5 million for The Marcum LLP Office Building, a 53,570 s/f property located at 10 Melville Park Road in Melville, NY.
Secured a $21.5 million refinancing of Southgate Shopping Center, a 117,960 s/f retail property in Massapequa, NY.
Lori Baker of Avison Young represented LogicSource in the subleasing of 10,000 s/f of their space to HealthPrize at 20 Marshall Street in Norwalk, CT.
James Ritman of Newmark Grubb Knight Frank worked on the Vineyard Vines lease of 91,040 s/f at 181 Harbor Drive at Shippan Landing, in Stamford, CT. The property is owned by George Comfort & Sons and Angelo, Gordon & Co.
M E M B E R N O T E S
Erland Construction has won two national awards for its safety record. These honors include the 2014 Safety Training and Evaluation Process Platinum Level award from Associated Builders & Contractors and the National Safety Award from AGC of Massachusetts.
Colliers International and RHYS Commercial arrange a long-term 22,500 s/f lease for Tradition Energy at 9 West Broad Street, Stamford, CT which is owned by Forstone Capital.
F A I R F I E L D / W E S T C H E S T E R
T R A N S A C T I O N S
Antinozzi Associates completed $64.5 million project for Capitol Region Education Council (CREC) Medical Profession and Teacher Preparation Academy in New Britain, CT.
Designed the new 60,000 s/f residence hall on the University of Bridgeport campus in Bridgeport, CT.
Mark Duclos of The Hart Group International (Sentry Commercial) represented the landlord, Winstanley Enterprises, in the lease of 111,443 s/f in East Hartford for the construction of the headquarters of Bakery on Main, a leader in the gluten-free bakery industry.
Pat Mulready, John McCormick, Jeff Dunne, and Michael Puzzo of CBRE represented the seller and also procured the buyer in the $36.85 million sale of 100 Pearl Street, Hartford, CT, a 281,000 s/f Class A office building. The seller was The Silverman Group and the buyer was Shelbourne Global Solutions, LLC.
Matt Halprin of New England Retail Properties leased 4,700 s/f in the Staples Plaza located at 1145 Colony Road, Wallingford, CT to Empire Wine & Liquor Superstore. He represented the owner, CT Properties, LLC.
M E M B E R N O T E S
Amenta Emma Architects has been engaged to create plans for the repositioning of more than 130 retail properties across the U.S., totaling more than 15 million s/f.
I N D U S T R Y N E W S
Groundbreaking "Like-Kind" Exchanges Study Released
In collaboration with 15 other real estate associations,
BOMA International has released a groundbreaking study
focused on the economic effects of a repeal of Section
1031 (or "like-kind") exchanges for real estate. The study
illustrated the enormous importance of 1031 exchanges to
the health of both commercial real estate and the
economy as a whole. If 1031 exchanges were to be
repealed, rents would rise, property values would be
pushed lower and real estate transaction activity would
decrease, resulting in less tax revenue overall. As
Congress continues to weigh options for tax reform, some
lawmakers are looking at like-kind exchanges as a
"loophole" that needs to be closed and a potential
revenue raiser; this study disproves that assumption.
BOMA will continue to work with our coalition partners to
make sure Congress knows like-kind exchanges help grow
the economy.
For more information on this study,
CLICK HERE.
H A R T F O R D T R A N S A C T I O N S
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FOUNDING SPONSORS
Carlton Fields Jorden Burt
Cigna Realty Investors
Day Pitney LLP
Fidelity Family of Title Insurers
First American Title Insurance Company
Hart Realty Advisers, Inc.
McElroy, Deutsch, Mulvaney & Carpenter, LLP
People’s United Bank
REFA-WIDE SPONSORS
Amenta/Emma Architects
AvalonBay Communities
Bank of America
CBRE
CohnReznick LLP
First Niagara
GZA GeoEnvironmental, Inc.
H.B. Nitkin Group
HRP Associates
Murtha Cullina LLP
Perkins Eastman
Pullman & Comley
Robinson & Cole, LLP
Shipman & Goodwin, LLP
Stewart Title
TD Bank N.A.
United Bank
FAIRFIELD/WESTCHESTER CHAPTER SPONSORS
Antinozzi Associates
Building & Land Technology
Cacace Tusch & Santagata
Carmody Torrance Sandak Hennessey LLP
Celestial Capital Group, LLC
Citizens Bank
Citrin Cooperman
Cohen & Wolf, P.C.
Collins Enterprises, LLC
Cushman & Wakefield
Empire State Realty Trust
Erland Construction
F.D. Rich
Forstone Capital, LLC
Goedecke & Co., LLC
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FAIRFIELD/WESTCHESTER CHAPTER SPONSORS
IVI International, Inc.
Jones Lang LaSalle
M&T Bank
Marcus Partners
McCarthy Fingar LLP
Merritt 7 Corporate Park
Mountain Development Group
Newmark Grubb Knight Frank
NorthMarq Capital LLC
Nova Consulting Group
Reckson, a Division of SL Green
RFR Realty
RiverOak Investment Corp., LLC
RMS Construction, LLC
Seaboard Properties
Spinnaker Real Estate Partners
Summer Street Advisors
The Ashforth Company
The Davis Companies
Transwestern
Union Savings Bank
Urstadt Biddle Properties
Webster Bank
WFL Real Estate Services
HARTFORD CHAPTER SPONSORS
BlumShapiro
Brown Rudnick
Center For Real Estate (UConn)
Conestoga-Rovers & Associates, Inc.
Cornerstone Real Estate Advisers LLC
Farmington Bank
Hinckley Allen
Lexington Partners LLC
M.J. Fish Insurance
MetroHartford Alliance
Sentry Commercial
STV|DPM
The Guilford Savings Bank
The Simon Konover Company
UBS Realty Investors, LLC
Updike, Kelly & Spellacy, P.C.
Whittlesey & Hadley
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REFA-CT PRESIDENT/CHAIRPERSON AL MIRIN, CUSHMAN & WAKEFIELD
The Real Estate Finance Association of Connecticut (REFA-CT) announces the election of its President/Chairperson, Al Mirin. Al is an Executive Director of Investment Sales in Cushman & Wakefield’s Stamford, CT office.
Al has been recognized as a top producer in investment sales in the region for the past 25 years. He is a leader in Cushman & Wakefield’s regional Investment Sales Group and heads the Private Capital Group, which specializes in middle market sales. The Private Capital Group focuses on sales and strategic consult-ing on behalf of owners of office, industrial, retail and multi-housing properties in Fairfield and Westchester Counties.
Al previously served as senior vice president at CBRE, Inc. in Stamford, spe-cializing in investment properties. In that capacity, he acted as advisor in more than 20 million square feet of transactions, totaling in excess of $8 billion.
Prior to his being elected President/Chairperson of the Real Estate Finance Association of CT, he served as the REFA Fairfield/Westchester Chapter pres-ident.
M E E T T H E L E A D E R S H I P O F R E F A
F A I R F I E L D / W E S T C H E S T E R P R E S I D E N T
J A C K M U L L E N , S U M M E R S T R E E T A D V I S O R S
As the Founder and Managing Director of Summer Street Advisors, LLC (SSA), Jack brings a breadth of knowledge and experience to the CRE industry. Prior to the formation of SSA, he was an executive member of GE Capital Real Estate’s Global Valuation Team and was responsible for managing transaction teams in the due dili-gence, valuation and underwriting activities supporting the acquisition of $10 billion in CRE investments. Previously, he served as Vice President with Turing Capital responsible for risk and transaction management for corporate and commercial real estate lending opportunities.
F A I R F I E L D / W E S T C H E S T E R V I C E P R E S I D E N T
J O H N G R E E N S P A N , D A V I D A D A M R E A L T Y
John Greenspan is the Director of Acquisitions and Asset Management at David Adam Realty, Inc. (DAR) based in Westport, Connecticut, where John oversees DAR’s real estate investment and asset management activities. John has over fifteen years of investment and development experience. Prior to joining David Adam Re-alty, John was as a Managing Director at Commonfund, where he managed acquisi-tion, asset management, and disposition activities for a diversified portfolio of real estate investments in major markets across the US. Previously, John was an Invest-ment Manager at GE Asset Management, where he acquired and managed office, retail, industrial, and multifamily investments on behalf of GE Pension Trust and other institutional investors.
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H A R T F O R D P R E S I D E N T
J O H N C L A R K , C I G N A
John is a Managing Director and a Member of the Investment Committee for Cigna Realty Investors. He serves as the Head of Debt and Equity Originations and is responsible on a national basis for all activities related to real estate equity acquisitions and commercial mortgage originations. As a division of Cigna Investment Management, Cigna Realty Investors pursues real estate lending and joint venture investments in major markets across the United States, and invests in real estate private equity funds. Currently the company’s real estate investment holdings total approximately $5 billion. John joined Cigna in 1997. Prior to his current position, he held various positions in Asset Management, Acquisitions and Mortgage Originations within the organization. John earned a B.S. in Finance and a M.B.A. from the University of Connecticut, and is a member of the National Multi Housing Council and Mortgage Bankers Association.
H A R T F O R D V I C E P R E S I D E N T
T I M M I T C H E L L , C B R E
Timothy B. Mitchell is a Vice President in the Hartford, Connecticut Office of CBRE/New England. He has over 20 years of professional experience in the preparation and review of commercial real estate appraisals, feasibility studies, rent analysis, market studies, partial interest analysis, property assessment valuations, easements, consulting assignments, right-of-way valuations, and diminution in value from full and partial takings. Tim’s experience encompasses a wide variety of property types including multi-family residential properties, retail assets, office projects, residential subdivisions and condominiums, auto dealerships, daycare facilities, schools, churches, public parks and recreational facilities, depleting assets such as sand and gravel mining operations, valuation of wetlands and other natural resources. Tim has qualified as an expert witness in the State of Connecticut and Federal court.
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More than 50 specialized breakfast and lunch programs, such as The State of the Market and Capital Markets. Programs are led by popular guest speakers, incluing high-level economists from Fairfield University, Webster Financial Group, Moody’s Analytics, Torto-Wheaton, and the Center for Real Estate at UConn
Special networking events, including seasonal cocktail receptions, sponsor receptions, and the annual golf outing
The REFA-CT Gala - considered the networking “event of the year” for Connecticut real estate finance professionals
An online membership directory, including an updated website list of all association members - A Who’s Who of Commercial Real Estate Professionals
As THE information resource for the Connecticut real estate community, REFA-CT hosts an impressive calendar of educational seminars and networking events that include a who’s who of the industry.
For more information, visit: www.refact.org/member
REFA Sponsorship
REFA-CT Sponsors serve a leadership role in supporting the organization financially as well as fostering the exchange of real estate finance information through program and networking opportunities. As a Sponsor, organizations not only gain the benefit of REFA’s membership opportunities, but they ben-efit from special Sponsor networking events and increased visibility within the industry. Sponsors are
recognized as leaders by their peers.
Free membership and free passes to regular programs
Sponsor-only dinners and special events
Company name visibility on REFA-CT website and printed materials
Direct company links from REFA-CT website
Automatic Gala Sponsorship
For more information, visit: www.refact.org/sponsor
Member Benefits
Through its efforts to foster the exchange of real estate finance information, REFA has earned a reputation for delivering quality programming at a more than competitive price.
Member Benefits Include:
Our Vision: To be the Premier Association of
Real Estate Finance Professionals
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Sponsor Benefits Include: