Tag Archives: johnson capital


Churchhill Commercial Capital gains new senior vice president

Churchill Commercial Capital, Inc. has hired Don Burnes as senior vice president to assist his clients with their debt and equity needs for commercial properties.

Burnes brings an extensive 35+ year career of commercial real estate finance and investment experience focused on both debt and equity for a diverse set of property types.

Burnes has closed over $1.5 billion in debt and/or equity transactions as either a mortgage banker or as a direct lender.

Burnes joins Churchill after a sixteen year association with Johnson Capital and its successor company, Walker & Dunlop.  Prior positions include senior lending roles with Heller Financial, Mortgage and Realty Trust, a publicly traded commercial mortgage REIT and GE Capital Real Estate.

Burnes was brought to Phoenix from Iowa by his family when he was in grammar school and has lived in Arizona for all but a seven year stint in Southern California during the 1990’s. Burnes is a graduate of the W. P. Carey School of Business at Arizona State University. He holds an Arizona Real Estate Broker’s license and is a Life Member of the Fiesta Bowl Committee. Burnes and his wife live in Scottsdale.

Shoppes at Clemente Ranch, Johnson Capital

Johnson Capital Arranges $7.445M Loan for Chandler Retail Center

Johnson Capital a national real estate capital advisory firm, announced Don Burnes, Senior Vice President in the company’s Phoenix office has originated a $7.445M loan secured by a retail asset in Chandler.

The property is The Shoppes at Clemente Ranch, a 34,133 SF retail center, shadow-anchored by a Fry’s Food & Drug Store, located on the southwest corner of Alma School Rd. and Germann Rd. At closing the property was just under 90% leased to a variety of tenants, many of whom have been in the subject center for a number of years. Zell Commercial Real Estate Services leases and manages the property.

The amount of the new ten-year fixed-rate loan represented approximately 72% of the purchase price. The non-recourse debt has two years of interest-only payments followed by a 30-year amortization schedule. Johnson Capital was able to procure the loan through a CMBS lender. The interest rate on the loan is in the mid 4% range.

Mr. Burnes’ client is a real estate investment group based in the San Jose, CA area. This is the thirteenth financing transaction, totaling nearly $100 million, which Mr. Burnes has completed for principals of the investment group.

Commenting on the transaction, Mr. Burnes noted that, “There were some moving parts to the transaction having to do with a prospective new tenant for some of the currently vacant space. The tenant’s commitment to the space was not fully documented by the time the loan needed to close, but we were able to get both the lender and borrower to agree to loan terms despite the fact that the tenant had not yet signed its lease.”

Casa Sol apts Phoenix

Johnson Capital Team Arranges $3.75M Loan for Casa Sol

Neal Churney, CCIM, Dave Susank and Adam Finkel in Johnson Capital’s Phoenix office, have arranged a $3.75M loan for a multifamily property called Casa Sol in Phoenix.

The property contains 247 units and was completed in 1985 on 8.065 acres at 4032 W. Osborn Rd. The apartment community is comprised of 17 two-story apartment buildings containing a mix of studios, one-bedroom, two-bedroom, and three-bedroom units. Project amenities include multiple swimming pools, spas, a clubhouse, and a community playground.

The borrower is an experienced Canadian private investor who entered the Phoenix market last year and currently owns two apartment communities in the west valley.

The non-recourse debt was funded by a New York-based regional bank. It is a fixed-rate loan with a 12-year term and a 30-year amortization schedule. The initial interest rate is in the low 4% range and it has a loan-to-value ratio of 62%.

Commenting on the loan placement, Finkel said, “The timing of this transaction created some additional challenges as we were in an especially volatile interest rate environment. Nevertheless, we were able to meet the client’s goals and objectives by securing a long-term, non-recourse loan with an extremely low interest rate relative to the market.”

Newsmakers, AZRE Magazine September/October 2010

Newsmakers: AZRE Magazine September/October 2010

The newsmakers of September and October 2010.

Paul Klink, Alisa Timm and Sarah Searight joined the Cassidy Turley BRE Commercial property management division. Klink was named managing director Southwest Region; Timm was named associate vice president and Searight joined the company as property manager. Justin LeMaster joined the industrial group as senior associate. LeMaster previously was with NAI Horizon.

Dick Crowley was promoted to vice president of Kitchell Construction’s healthcare division. Crowley joined Kitchell six years ago as director of client services.

Neal Churney joined Johnson Capital as senior vice president. Prior to joining Johnson Capital, Churney was a director with Marcus & Millichap Capital, where he financed multi-family, office, industrial and retail properties.

Luke Snell joined Western Technologies as senior construction materials engineer. Snell formerly was with the Concrete Industry Management program at ASU’s Del E. Webb School of Construction.

Brian Ackerman joined Jones Lang LaSalle as senior vice president. He will specialize in the acquisition and disposition of office and industrial property throughout Arizona.

Anthony Lydon and Marc Hertzberg joined the industrial brokerage team as managing directors. Most recently with Cassidy Turley, the duo has a combined 50 years of experience in industrial real estate.

GPE Management Services added Mark Carrell and Shirley Hawley as senior commercial real estate professionals. Carrell is responsible for managing the 200,000 SF local portfolio of West Coast Capital Partners.

Grubb & Ellis expanded its Phoenix operation with the addition of the office and medical condo team of Sheila Bale, Colleen McPherson and Ryan O’Connor. David Cravath joined the multi-housing group as vice president. Also joining Grubb & Ellis are Steve Julius (senior associate) and Jesse Goldsmith (associate). Previously with Marcus & Millichap, they will specialize in retail investments.

ICSC appointed six Arizonans as volunteer officers for Arizona and New Mexico: Gordon A. Keig, Kornwasser Shopping Center Properties, state director; Jeff Manelis, The Pederson Group, Inc., government relations committee chair; Steven R. Helm, Macerich, alliance private sector co-chair; Jim Brennan, Vestar Development Co., operations chair; Dennis Barr, The Kroger Co., retail chair; and John C. Reva, SR Commercial Real Estate, next generation chair. All appointments are for the 2010-2011 term.

Dave Headstream and Mike Ratliff were named to the land services group of CB Richard Ellis in Phoenix. They join Jason Hyams, another CBRE first vice president, to form a new land services team.

James Abell, FAIA of James Abell & Associates Architects in Tempe received the Edward C. Kemper Award at the AIA convention in Miami. The Kemper Award is given annually to an architect who has contributed significantly to the profession through service to AIA.

Rowland Luxury Homes hired Mary Norton as director of marketing and business development.

MODE Real Estate Management Services hired Ryan King as tenant services coordinator to its commercial property management staff.

Voit Real Estate Services opened an Arizona regional office in Phoenix. Jason Quintel was named managing director for the area. Voit also announced the hiring of Robert A. Freund as COO. Phoenix is one of the operations he will oversee.

SmithGroup hired Michelle Romero as senior interior designer for the firm’s Workplace Studio. Romero formerly worked for Tempe-based DAVIS.

Brock Huttenmeyer was named director of pre-construction services for Haydon Building Corporation’s building division. Denise Arredondo joins Haydon’s building division as a junior estimator.

Boe Bergeson was named leader of business development in the Southwest Region for the Weitz Company. Bergeson will focus on mtunicipal, commercial, industrial, higher education, hospitality, federal, senior living, tenant improvements, renovations, retail and distressed properties.

CB Richard Ellis’ 12th Annual Charity Golf Tournament at Grayhawk Golf Club in Scottsdale raised nearly $35,000 for Valley charities and local chapters of national nonprofit organizations. Three charitable organizations will receive a sizable portion of the money: Childhelp, Phoenix Children’s Hospital and the Boys & Girls Clubs of Metropolitan Phoenix.

The Phoenix Asset Services Division of CB Richard Ellis announced that Camelback Esplanade III achieved Gold certification under the USGBC LEED rating system for Existing Buildings (EB). The 218,254 SF building at 24th St. and Camelback Rd. is the third CBRE-managed office building to earn the LEED-EB rating.

AZRE Magazine September/October 2010