Investment Sales with NAI Farbman

Investment Sales with
NAI Farbman
Thank you for taking the time to learn about the
Investment Sales Division of NAI Farbman.
NAI Farbman has enjoyed a long standing reputation in disposing of various types of real estate
deals for a variety of private and public owners, lenders, bond insurers / funds and CMBS
lenders including: Bank of America (LaSalle), Capmark (GMAC), GE Capital, Ambac, ING,
Morgan Stanley, Midland Loan Services, Flagstar, Orix, Forest City, Acadia, Charter One, IDS/
American Express, CW Capital, Centerline, and others. We would welcome the opportunity to
expand that relationship to your organization. For your review, we’ve enclosed the following:
1. List Of References
2. Selected List Of Investment Sales Case Studies From NAI Farbman
3. Resumes Of Key Investment Sales Team Members
4. Map Of Our NAI Global Offices In The United States
Founded over 30 years ago, NAI Farbman handles traditional property management and
brokerage work. We do an extensive amount of turnaround management, disposition and
leasing. Please also view us as a source on a nationwide basis for sales comparables, market
data and preparing analytical evaluation (Broker Opinions of Value) on deals.
The following will provide more detailed information on our Investment Sales Division.
NAI Farbman has a long track record in office, industrial, retail, and multi-housing disposition
work nationwide. With 18 million square feet of property under management, and
millions of dollars in successful disposition assignments to our credit, we are
confident that we can be of assistance to you.
NAI Farbman’s credentials are backed by our nationwide (and worldwide) network of NAI
Global offices. With over 375 offices worldwide (in 55 countries) and over 8,000 professionals,
we are confident that we can assist you wherever your real estate needs may be. NAI Global
annually completes over $45 billion dollars worth of transactions and currently has
over 250 million square feet of property under management. NAI Farbman teams up as
necessary on projects nationwide with our NAI partners to provide the highest quality level of
service.
Some of the services that we can offer you (and credentials that we have) are as follows:
• Our disposition team is equipped to mobilize quickly to market your properties for sale and obtain optimum values for you through our high quality offering memorandums, aggressive contacting of prospects and detailed follow up to close deals.
• We often act as receivers on various assignments and are very familiar with the
requirements of the courts. We are prepared to assist in proving cases of waste
(both physical and financial, as needed).
• We maintain an outstanding sale and lease comparables database and other market
statistics. We can move quickly for you on getting this data assembled where the need arises for acquisitions, due diligence or other purposes.
• We are highly proficient in Argus modeling of investment deals and can provide detailed Broker Opinions of Value for you as needed.
• We maintain a strong, up-to-date, nationwide database of buyers that is constantly being updated to track new and emerging buyers including (IRC Section 1031 buyers through title companies and other sources).
NAI Farbman has established a nationwide track record in disposition work. We have
successfully handled disposition assignments in various parts of the country in all property
types including multi family, net leased transactions, office, retail, flex space/industrial, senior
housing and hotels.
By partnering up with our NAI partners in various cities as needed, we make sure that we
have strong local market knowledge to assist in a successful disposition. We have significant
experience modeling deals in Argus and other programs. Our group maintains an extensive,
nationwide database of sales comparables. We track buyers to stay on top of current trends in
acquisitions and maintain a detailed database of buyers that is constantly being updated.
We hope these brief introductory materials will be of assistance in telling you a little about our
Investment Sales Division of NAI Farbman. We look forward to being of service to you.
Thank you.
Sincerely,
NAI FARBMAN
William A. Bubniak
Senior Vice President
Tele: (248) 351-4379
Fax: (248) 784-7114
bubniak@farbman.com
Todd Szymczak
Multi-Housing Investments
Tele: (248) 351-4378
Fax: (248) 784-7131
szymczak@farbman.com
Paul Debono
Assistant Vice President
Tele: (248) 351-4356
Fax: (248) 784-7115
debono@farbman.com
Susan Ehlke
Sales Associate
Tele: (248) 351-4387
Fax: (248) 351-4418
ehlke@farbman.com
Reference List
Selected NAI / Farbman References
GE Capital
Building on the power of our network.™
28400 Northwestern Hwy.
4th Floor
Southfield, Michigan 48034
www.naifarbman.com
William A. Bubniak
Senior Vice President
248.351.4379
248.784.7114
Paul E. DeBono
Assistant Vice President
248.351.4356
248.784.7115
Todd Szymczak
Multi-Housing Investments
248.351.4378
248.784.7131
Susan Ehlke
Investment Sales Associate
248.351.4387
248.784.7116
Reference List
Sample List of Clients, NAI Farbman
Financial
Advisors
Building on the power of our network.™
28400 Northwestern Hwy.
4th Floor
Southfield, Michigan 48034
www.naifarbman.com
William A. Bubniak
Senior Vice President
248.351.4379
248.784.7114
Paul E. DeBono
Assistant Vice President
248.351.4356
248.784.7115
Todd Szymczak
Multi-Housing Investments
248.351.4378
248.784.7131
Susan Ehlke
Investment Sales Associate
248.351.4387
248.784.7116
A Partial List of
Investment Sales Clients
We are proud to have the following organizations as a partial list of NAI Farbman disposition
clients. Please let us know if you would desire additional references and we would be pleased
to provide them.
GE Capital
Financial
Advisors
NAI Farbman Profile
Investment Sales Case Studies
Office & Medical Office Property Sales
We introduced a first time buyer to Detroit and Michigan
with this property from New York after many local buyers
shied away from this deal quickly due to a short-term
anchor tenant lease. The buyer closed this deal and has
since successfully negotiated a lease extension with the
anchor and closed a new loan.
This was our third
successful sale for GE Capital and first of several to this
buyer who continue to be active in Michigan and the
Midwest today.
CADILLAC TOWER
Client – GE Capital Real Estate
Detroit, Michigan
High Rise Office Building
339,274 Square Feet
We represented the buyer who was looking to get into the
competitive Chicago market but wanted to find a deal
where they could use their management and leasing
expertise to improve a building. 216 W. Jackson is well
located near the Sears Tower and we were able to assist
the buyer in acquiring a deal where they can improve
occupancy and reduce expenses on a project that enjoys
an excellent location.
216 W. JACKSON OFFICE BUILDING
Chicago, Illinois
Mid-Rise Office Building
177,000 Square Feet
Client – Buyer Exclusive Representation
The Information contained herein has been given to us by the owner of the property or other sources we deem
reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
NAI Farbman Profile
Investment Sales Case Studies
Office & Medical Office Property Sales (continued)
When Aetna (Allegis) did not know of a solid broker in
Columbus, they called on us because we had a strong
track record with them in Michigan. We quickly talked to
appraisers and assessors and got up to speed on who
was buying deals in Columbus. We worked with our local
NAI office in Columbus. Our first sale in Columbus was a
success and we closed with the first buyers we suggested
to the seller to go with.
SPECTRUM COMMERCE CENTER
Client – Aetna
Dublin (Columbus), Ohio
Office/Flex Space
134,253 Square Feet
Comerica Bank had foreclosed on this poorly occupied
property and wanted to dispose of it with certainty and in a
prompt fashion. Having handled other successful deals for
them in Michigan, they knew we would not let them down
in Florida. We interviewed several buyers to insure that we
had a qualified closer, spoke with his financial references,
and got the deal closed in 30 days.
CORAL SPRINGS TRADE CENTER
Coral Springs, Florida
Office Building
115,000 Square Feet
Client – Comerica Bank
The Information contained herein has been given to us by the owner of the property or other sources we deem
reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
NAI Farbman Profile
Investment Sales Case Studies
Industrial & Flex Property Sales
We introduced a first time buyer to Detroit and Michigan
with this property who teamed with a local Management
Partner, The Sterling Group, to take on this 1.2 Million
Square Foot Industrial Center.
The buyer separated
themselves from other buyers by coming in with a quick
due diligence, 15 days, and a quick close, 15 days.
Moving this fast puts a lot of pressure on the Seller to
perform and we were ready. We quickly put together all
the due diligence materials, setting up every inspection and
obtaining every Estoppel within that short time frame. This
was our second successful sale for CAPMARK (formerly
GMAC Commercial Mortgage).
GATEWAY INDUSTRIAL CENTER
Client – CAPMARK (formerly GMAC Commercial Mortgage)
Detroit, Michigan
Multi-Tenant Industrial Park
1.2 Million Square Feet
The Discovery Center was a well-built property that was
foreclosed on by a major lender. The project was being
sold in an interest rate climate where the rates were high.
We found a well-qualified, local buyer who put a substantial
amount down, and negotiated a short-term loan (1 year) to
get the deal closed but did not require the seller to wait too
long for its total proceeds.
THE DISCOVERY CENTER
Client – Chase
Farmington Hills, Michigan
3 Flex/Industrial Building Portfolio
164,100 Square Feet
The Information contained herein has been given to us by the owner of the property or other sources we deem
reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
NAI Farbman Profile
Investment Sales Case Studies
Industrial & Flex Property Sales (continued)
In cooperation with our Cleveland partner NAI Daus, we
assisted the buyer in identifying this deal with good upside.
Selling properties in the Midwest can be challenging given
that some investors view it as a difficult market. It is even
tougher to sell deals in smaller Midwestern towns such as
Akron. We have tremendous experience and a long track
record in bringing out-of-town investment to the Midwest
as we know the strengths of the area well. We were able to
convince an institutional buyer with a local partner to look
at the tremendous opportunity in Akron. The local partner
has strong management and leasing expertise in the area
and brought those talents to the deal to improve the
performance of this large industrial complex.
9 BUILDING INDUSTRIAL PORTFOLIO
Client – Exclusive Buyer Representation
Canton (Akron), Ohio
Industrial Warehouse
1,800,000 Square Feet
With their new relationship with The Sterling Group and
taste for better returns in the Midwest, they went on to their
second acquisition in Michigan with another deal with
CAPMARK. The success and ease of the Gateway deal
opened up the door for a quick marketing effort and
another great buyer selection with Hager Pacific.
Although the major tenant was Ford Motor Company,
we were able to find several buyers that were willing to
look past the poor automotive headlines to truly
evaluate the tenant and site to offer strong values.
Again, Hager Pacific offered similar due diligence and
closing performance to differentiate themselves from
several other suitors on a highly desirable offering. With
over ten offers, it was our knowledge and comfort of their
historical performance that won them this deal.
FAIRLANE COMMERCE PARK
Client – CAPMARK (formerly GMAC Commercial Mortgage)
Dearborn, Michigan
Multi-Tenant Flex Space Portfolio
190,000 Square Feet
The Information contained herein has been given to us by the owner of the property or other sources we deem
reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
NAI Farbman Profile
Investment Sales Case Studies
Multi-Housing & Hospitality Property Sales
By tracking various investor trends in acquisitions through
our office and NAI Global, we were aware Equity
Residential was desirous of expanding in South Florida
very aggressively. Although it was a small deal for them,
we persuaded them that this would be a strong acquisition
to compliment other deals they were looking at in the area.
This helped them build up a large portfolio in the area
quickly.
VILLAGE GREEN APARTMENTS
Client – Camden Properties
Palm Beach, Florida
151 Units, Apartments
When PNC Bank wanted help in selling a distressed hotel
and resort, they called on their friends in Michigan to
dispose of it in a soft Pocono Mountains market. We had
enjoyed a strong relationship with PNC on the lending side
and they knew they could count on us for the disposition of
this project.
CHATEAU AT CAMELBACK
Client – PNC Bank
Tannersville, Pennsylvania
152 Room Hotel/Resort
The Information contained herein has been given to us by the owner of the property or other sources we deem
reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
NAI Farbman Profile
Investment Sales Case Studies
Multi-Housing & Hospitality Property Sales (continued)
We represented Centerline Capital Group to sell this large deal
in a tough neighborhood of Northwest Detroit. Through a wide
spread marketing outreach, we secured an international investor
to purchase the asset. The result was a price substantially
higher than offers the seller had received on a potential note
sale.
FRENCH QUARTER APARTMENTS
Client – Centerline Capital Group
Detroit, Michigan
476 Units, Multi-Family Portfolio
NAI Farbman acted as Court Appointed receivers to protect the
asset for Capmark Financial Group, putting a multi-family
management expert in place to stabilize the asset. Working
together to make strategic capital investments, occupancy was
improved from approximately 70% to 95% at the time of sale.
NAI Farbman Investment Sales was able to bring a uniquely
qualified group to the deal that was able to close the deal amidst
the challenging credit markets and negotiate around the
concerns of the small town market and multiple site-specific
challenges.
MULBERRY LANE & ROBIN OAKS
Client – Capmark
Midland, Michigan
396 Units, Apartment Portfolio
The Information contained herein has been given to us by the owner of the property or other sources we deem
reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
NAI Farbman Profile
Investment Sales Case Studies
Retail Sales
We introduced a California based buyer, Capstone
Advisors, to its first enclosed mall purchase. Working with
our NAI Partners in Indiana, the buyer we found had an
aggressive mindset and closed very quickly so they could
get in place promptly to move this turnaround opportunity
forward. This was our second enclosed mall sale for ING.
CONCORD MALL
Elkhart, Indiana
600,000 sf
Client – ING Real Estate
Westshore Mall in Holland, Michigan needed a facelift and
the Seller preferred to have a Buyer take on the task of
doing it. While the client’s goal was to sell it quickly, we
were faced with a poorly occupied center and one missing
anchor tenant.
While trying to sell the project, we
simultaneously sought out prospective tenants and then
passed on those possible prospects to the buyer to help
consummate the deal.
WESTSHORE MALL
Client – GE CAPITAL
Holland, Michigan
400,000 sf
The Information contained herein has been given to us by the owner of the property or other sources we deem
reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
NAI Farbman Profile
Investment Sales Case Studies
Retail Sales (continued)
Randall Park Mall in Canton, Ohio was a tired center that
had recently lost an anchor tenant. We successfully
reduced expenses at the site while keeping occupancy at
the highest possible levels during the disposition effort. We
produced several leasing letters of intent to help assist in
successfully consummating a sale to an “All Cash Buyer”.
RANDALL PARK MALL
North Randall (Cleveland), Ohio
1,473,144 sf, Regional Mall
Client – Natixis
East Bay in Largo, Florida was a tired center that needed
rehabilitation. While the client’s goal was to sell it quickly,
we were faced with a poorly occupied center and a
missing anchor tenant. While trying to sell the project, we
simultaneously sought out proposed anchor tenants and
then passed on those possible prospects to the buyer to
help consummate the deal.
EAST BAY PLAZA
Largo, Florida
85,000 sf
Client – American General
The Information contained herein has been given to us by the owner of the property or other sources we deem
reliable. We have no reason to doubt its accuracy, but we do not guarantee it.