Acquisition of NAI Global by C-III Capital Partners is Complete

January 25, 2012

Local affiliate NAI Hiffman to benefit from acquisition

 

Chicago, Illinois, January 25, 2012 — NAI Global, the largest network of independent commercial real estate firms worldwide, announced today that its previously reported acquisition by C-III Capital Partners LLC (C-III) has been completed. The transaction will help create a leading fully integrated commercial property services company that will operate in markets around the world. Locally-based NAI Hiffman, is the Chicago representative of NAI Global.

C-III is a leading commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, title services and multifamily property management. C-III is led by CEO Andrew L. Farkas, who founded and was Chairman and CEO of Insignia Financial Group, Inc. (NYSE:IFS). Its principal place of business is located in Irving, Texas, and it has additional offices in New York, New York; Greenville, South Carolina; McLean, Virginia; Chicago, Illinois; Dallas, Texas and Nashville, Tennessee.

NAI Global will continue to operate as a separate company under its current management. C-III will accelerate NAI Global’s growth by exploring business development opportunities in strategic locations, including New York, London, Singapore and other primary global business centers. It will also invest in the growth of the corporate solutions and capital markets offering, expanding asset/property management, project/facilities management and valuation services worldwide.

“The completion of this transaction represents a significant step forward in our strategy to build a fully diversified commercial real estate services company,” said Mr. Farkas. “With the NAI Global acquisition, we are gaining the world’s leading commercial real estate network and a tremendous foundation for future growth. As we begin a new year, we look forward to partnering with the NAI team to provide enhanced services to the commercial and institutional real estate markets they serve as well as continuing to take advantage of other opportunities to grow and expand our platform.”

“We are thrilled to be joining forces with C-III and excited about the opportunity to deliver an even broader range of services to our members and add greater value to our collective corporate and investment clients. We look forward to tapping into their extensive resources and expertise to assist all of our clients in strategically optimizing their commercial real estate assets,” said Jeffrey M. Finn, President and CEO of NAI Global.

NAI Hiffman CEO Dave Petersen said he expects the benefits of the transaction will translate to new real estate assignments for the company’s local office and will create added opportunities for existing clients and shareholders.

“This is an exciting chance to expand upon our existing philosophy of client service to increase the advisory and operational deliverables available to tenants and landlords,” Petersen said. “The best aspect of this transaction is that its greatest value will be seen at the ground level in the form of property management, leasing and investment sales opportunities.”

Founded in 1977 by Gerald Finn, NAI Global has grown from covering 15 countries in 1999 to offering a full, collaborative platform of services to clients in over 350 offices in 55 countries, with over 300 million square feet of commercial space under  management.

C-III commenced operations with the purchase of Centerline Capital Group’s institutional real estate debt fund management and commercial mortgage loan servicing businesses in March 2010. Since that time, C-III has successfully launched mortgage origination, investment sales and title insurance businesses, and expanded its principal investment, loan origination, fund management and primary and special loan servicing businesses, including acquiring the special servicing and CDO management businesses of JER Partners in August 2011.

Financial terms of the NAI Global acquisition were not disclosed.

NAI Global (www.naiglobal.com) is the largest network of independent commercial real estate firms worldwide, comprised of over 5,000 professionals in 55 countries with more than 350 offices. NAI advisors work in tandem with our global management team to ensure our clients strategically optimize their real estate assets. NAI offices complete over $45 billion in combined transactions annually and manage 300+ million square feet of commercial space.

NAI Hiffman (www.hiffman.com) is the Chicago area representative for NAI Global, the world’s largest managed network of real estate service providers, comprising 5,000 brokers in 325 offices serving over 50 countries throughout the world. NAI Hiffman’s professionals represent clients in all aspects of commercial real estate and currently manage a 58+ million SF portfolio of over 250 commercial properties throughout metropolitan Chicago and Northwest Indiana.

 

Posted by NAI Hiffman | Filed Under NAI Global, Press Releases 

NAI Hiffman Facilitates Lease in Bolingbrook

June 8, 2011

As Reported by Robert Carr on GlobeSt.com on June 6, 2011

BOLINGBROOK, IL-Hanger Orthopedic Group Inc., has leased 44,671 square feet within Crossings Business Center, at 386 Internationale Dr. here. Additionally, Container and Pooling Solutions, Inc. has leased the remaining 33,154 square feet at 380 Internationale Dr., also within the center. The center consists of two buildings totaling 352,700 square feet of industrial space. The park, which features 30-foot clear heights, 81 exterior docks, 15 drive-in doors, significant auto parking and trailer storage, was developed by ML Realty Partners and HSA Commercial Real Estate. The center is 100% leased. Steve Connolly, Mark Moran and John Whitehead with NAI Hiffman represented the center. Tim Cahill and Dan Rasmussen with UGL Equis represented Hanger Orthopedic, and Jason West and Sean Henrick with Cushman & Wakefield represented Container and Pool Solutions.

Posted by NAI Hiffman | Filed Under General Business, Industrial, Lease, Media Coverage, Press Releases 

NAI Hiffman Brokers Western Springs Medical Office Sale

May 12, 2011

As reported in REjournals.com on May 4, 2011 

WSMC Partners LLC has completed the purchase of the newly named Western Springs Medical Center, a former garden center located at 4700 Commonwealth Drive in Western Springs, Illinois. Read more

Posted by NAI Hiffman | Filed Under Lease, Medical, Office, Press Releases, Sale 

DEVICOR MEDICAL PRODUCTS OPENS OFFICES IN SIX CITIES WORLDWIDE

April 14, 2011

NAI Hiffman assists new medical products developer in securing office leases globally

Adam Roth, CCIM, SIOR

Chicago, IL (April 14, 2011) – Cincinnati, Ohio-based Devicor Medical Products, Inc. has signed leases totaling over 40,000 square feet of office space in six cities worldwide with assistance from NAI Hiffman and five other NAI Global member firms on three continents. NAI Hiffman’s Adam Roth, CCIM, SIOR, served as the coordinating broker for their global expansion. The newly created company commenced their operations less than one year ago, identifying six cities where they required office space for their local sales force. The leases signed to date total over $6 million in transaction value.

The latest lease was signed with assistance from Hideki Tsuchiya and Akiko Takatsugi with NAI Japan in Chiyoda-ku Tokyo, where Devicor Medical leased 2,404 square feet of space at 1-8-3 Marunouchi in a building owned by Mori Trust.

The company’s headquarters, which are located in the Cincinnati area, opened for business in June of 2010. The 29,891-square-foot office is in a 150,000 square foot building at 300 E-Business Way in Sharonville, Ohio. Andrew Kahn with NAI Bergman represented Devicor in the transaction locally.

Jon Salkin, executive vice president of corporate development and strategy with Devicor Medical Products, said “NAI provided market insight with local brokers who made the execution of our multiple market requirements a focused, deliberate process.” He added, “the result was a speedy rollout of our new company within budget and on time for our people on the ground.”

Devicor’s Paris office lease commenced in January 2011. Mickael Jones of NAI France assisted in identifying the 3,154-square-foot space located at 1 rue Camille Desmoulins in Issy les Moulineaux, a suburb situated just southwest of the city’s 15th arrondissement.

Also opening in January was Devicor’s Hamburg 1,000-square-foot office, located at Suedportal 3 in Norderstaedt, Germany. Martin Hoeppler with NAI apollo assisened with the transaction locally.

 Devicor also recently completed leases in Rome, Italy and Seoul, Korea.

Posted by NAI Hiffman | Filed Under Adam Roth, Corporate Solutions, General Business, Logistics, Media Coverage, Medical, NAI Global, Office, Press Releases 

NAI Hiffman Brokers 1.2 Million Square Foot Lease Extension for True Value Company

July 28, 2010

HARVARD, Ill., July 28 /PRNewswire/ — True Value Company has signed a 10 year lease renewal with Mirvac Industrial Trust (Mirvac) for 1,194,650 square feet at 308 S. Division Street in Harvard, Illinois.  John Cash, SIOR and David Haigh of NAI Hiffman facilitated the negotiations between Chicago-based True Value Company and Mirvac, an Australian-based REIT. NAI Hiffman has been retained by Mirvac to lease the remaining 139,500 square feet of available warehouse space in the building.  

Located on 60 acres, the 1.3 million square foot facility was originally owned by True Value Company and sold in 1998 as part of a sale-leaseback transaction. Mirvac purchased the facility in subsequent years as part of their expansion into the Chicago industrial market.  

“This lease extension was a great opportunity for Mirvac to continue its mutually beneficial relationship with True Value,” says Richard LeBrun, vice president with NAI Hiffman’s Asset Management Group.  ”This is one of several large renewals we have facilitated for Mirvac in their Chicago portfolio, and we are very happy to see the market continue to support these major transactions.”

One of 12 distribution centers across the country, the operation at 308 S. Division Street delivers products to True Value stores located throughout the Midwest.      

True Value Company (www.truevaluecompany.com) is a retailer-owned hardware cooperative that serves 54 countries around the world.  With more than 5,000 stores and 3,000 associates, the True Value Company enjoys a rich history as a trusted and recognized global brand.

Mirvac Industrial Trust (www.mirvac.com/mix) is an Australian Securities Exchange (“ASX”)  listed Australian Real Estate Investment Trust which listed on the ASX on 20 May 2005. At 31 December 2009, the Trust had gross assets of approximately A$487.47 million, with 64 industrial assets located in or around the greater Chicago region (including Milwaukee and Indiana) and in Grand Rapids, Michigan.

NAI Hiffman (www.hiffman.com) is the Chicago area representative for NAI Global, the world’s largest managed network of real estate service providers, comprising 5,000 brokers in 325 offices serving over 50 countries throughout the world. NAI Hiffman’s professionals represent clients in all aspects of commercial real estate and currently manage a 53+ million SF portfolio of over 250 commercial properties throughout metropolitan Chicago and Northwest Indiana.

Source: Yahoo Finance

Posted by NAI Hiffman | Filed Under General Business, Industrial, Lease, Press Releases 

Gulf Oil Spill Not Likely to Impact Commercial Real Estate

June 22, 2010

Gulf Coast Commercial Property Experts See No Long-Term Effect on Supply or Demand 

PRINCETON, NJ, June 22, 2010 – The BP oil spill that has continued for more than 60 days has caused widespread environmental damage and is already affecting shipping, fishing and tourism, but commercial property experts in the region do not believe the accident will have a significant impact on Gulf Coast real estate markets, according to a special report released today by NAI Global.

Commercial real estate leaders from markets bordering the Gulf of Mexico and renowned economist Dr. Peter Linneman weigh in on how experts are quantifying the impact of the oil spill, and provide regional on-the-ground observations of how property markets are faring today. While some markets may see a temporary up-tick resulting from the cleanup efforts, most do not expect any long-term impact, positive or negative, on supply or demand, the primary factors influencing rental rates and property values.

NAI Global, the world’s premier managed network of commercial real estate firms and one of the largest real estate services providers worldwide, has a presence in markets all along the Gulf Coast, including New Orleans, LA, Pensacola, FL, Mobile, AL, Fort Myers, FL, and Houston, TX.

While there is no questioning the potential environmental impact, Dr. Linneman, NAI Global’s Chief Economist, suggests that political activists are inflating the economic impact of the oil spill, and that the impact on the Gulf Coast’s economy in general and real estate in particular will probably be minimal.

“This spill is the most overhyped problem we’ve seen in the past six months,” said Dr. Linneman. “The overall economic impact to the nation will be trivial.”

The full report is available for free download at www.naiglobal.com under Publications/Articles & White Papers, or by clicking here.

Posted by NAI Hiffman | Filed Under NAI Global, Press Releases 

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