Saturday, June 7, 2008

Barcelo Crestline Corporation Announces the Acquisition of Tidewater Hotels & Resorts, Inc., of Virginia Beach, VA

(The 143-room Holiday Inn Surfside, above, in Virginia Beach, VA, is part of the deal's portfolio.)

Crestline Hotels & Resorts to Manage the Portfolio of 17 Properties

MCLEAN, VA-- Barcelo Crestline Corporation, the parent company of Crestline Hotels & Resorts, Inc. and one of the leading hotel management and leasing companies in North America, has acquired certain assets of Tidewater Hotels & Resorts, Inc. of Virginia Beach, VA.

(For a complete copy of the company's news release and a listing of the 17 properties, please contact James Carroll, 1 571 382 1700,

Tidewater's portfolio includes the management of 17 full and select service hotels throughout Virginia and North Carolina, as well as a full-service, independently operated regional laundry facility. (The 266-room Holiday Inn SunSpree Hotel, Virginia Beach, VA, is at middle left)

The 17 properties will add 2,400 rooms to Crestline Hotels & Resorts' managed portfolio increasing Crestline's ranking to the fourth largest independent hospitality management company in North America with nearly 14,600 rooms, encompassing 66 open hotels and 4 under construction in 14 states and the District of Columbia.

The acquisition is expected to be completed in June and is anticipated to occur concurrently with Apple REIT Eight, Inc.'s acquisition of all or a portion of eight hotels that are in the Tidewater portfolio and owned by Tidewater.

Tidewater Hotels & Resorts is a privately held 30-year-old company founded by owner Thomas Lyons. The team of Doug Henkel, Marc Magazine and Lew Miller of CB Richard Ellis Hotels represented the buyer in this transaction. The purchase price was not disclosed.

"The acquisition of Tidewater by Barcelo Crestline will increase the management portfolio of Crestline Hotels & Resorts by 25 percent," said Bruce Wardinski, (top right photo) Chairman of Barcelo Crestline.

"The hotels in the portfolio are premium properties located in desirable vacation and tourism destinations that complement our existing portfolio and meet our company's criteria for growth.

(The 168-room SpringHill Suites Oceanfront hotel is at left).

“The hotels, many of which are beachfront, are located throughout Virginia Beach, Charlottesville, Chesapeake and Bedford in Virginia, as well as Carolina Beach and Wilmington in North Carolina.

"All of the hotels are in drive-to markets, surrounded by a large population base, and enjoy a history of recession-resilient business. We are secure in our belief in the long- term performance of these assets," added Wardinski.

"Barcelo Crestline shares our commitment to owning and operating well managed hotels," said Thomas Lyons, founder and owner, Tidewater Hotels.

"We are confident that under the direction of Crestline Hotels & Resorts our portfolio will continue to serve the needs and expectations of our guests and benefit from the resources that Barcelo Crestline brings to the table," added Lyons

(Above is the 203-room Sheraton Oceanfront hotel, Virginia Beach, VA)

Modest Construction Activity Keeps Apartment Market Tight in Omaha

OMAHA, NB — The Omaha apartment market will continue to improve throughout the year, underpinned by only modest new construction and steady economic growth, according to a first-quarter Apartment Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm.
Employment is forecast to expand at a subtle but positive pace, led by the educational and health services sector.

“Investors should maintain a positive outlook on Omaha’s apartment investment market, which is positioned for steady, long-term fundamental growth,” says Matthew Fitzgerald, (top right photo) regional manager of the Omaha office of Marcus & Millichap.

Following are some of the most significant aspects of the Omaha Apartment Research Report:

· Local employers are on pace to increase payrolls 0.8 percent this year with the addition of 4,000 new jobs.

· Developers are forecast to deliver 300 apartments to the Omaha metro area by year end.

· Vacancy is projected to decrease 20 basis points to 5.4 percent.

· Asking rents are expected to rise 3.4 percent to $691 per month.

· Effective rents will advance 3.5 percent to $668 per month.

For a copy of the complete Omaha Apartment Research Report, as well as reports on other markets nationwide, visit our website at
Press Contact: Stacey Corso, Communications Department, (925) 953-1716

Harkins Realty, Inc. Announces Office Lease to Dr. Al Kamme of Advanced Cardiac Care at Woodland Lakes Professional Plaza in Orlando, FL

ORLANDO, FL – Harkins Realty, Inc., the commercial brokerage, leasing, property management and tenant representation division of Orlando-based Harkins Companies, announced a 1,617-square-foot office lease to Dr. Al Kamme of Advanced Cardiac Care at Woodland Lakes Professional Plaza (above photo) located at 10931 Dylan Loren Circle, Suite A, Orlando, FL.

Harkins Realty represented the owner, New Horizons Real Estate Investments, LLC, in the transaction according to Mark Harkins, (middle right photo) Managing Director.
Offering single-source real estate solutions, Harkins Realty, Inc.’s commercial office and retail services include site location, financial evaluation, leasing, sales, and facility management.

Central Florida’s premier turnkey commercial development, contracting and real estate group since 1974, Harkins Companies offers full-service design/build general contracting and a complete range of facility solutions throughout the region.
For over three decades, business owners, medical professionals, large corporations, investor-owned development groups and others have turned to Harkins for fine quality commercial space.
For more information, visit

Kenneth H. Cristol, President, Cristol Marketing Company,237 Hunt Club Blvd., Suite 102, Longwood, FL 32779 USA PH 407-774-2515 FX 407-774-6647
Strategic Marketing, Brand Management, Publicity and Advertising, and Corporate Communications

Cuhaci & Peterson Architects Awarded Contract to Design Remodeling of Three Food Lion Supermarkets in Virginia

ORLANDO, FL – Cuhaci & Peterson Architects, based in Orlando, has been awarded a contract to design the remodeling of three Food Lion supermarkets in Virginia.

Lonnie Peterson, (top right photo) chairman at Cuhaci & Peterson Architects, said two of the three 30,000 square foot facilities are located in Richmond and one in Ettrick.

In another project, Cuhaci & Peterson completed design work for a 40,000 square foot mixed use retail and office facility located on Vineland Rd. near Kirkman across from Universal Studios. JNS Management of Miami is developing the two-story retail-office complex.

In Clermont, FL, Cuhaci & Peterson Architects, won a contract to design the Ladybird Daycare Center which is under development. Ladybird Enterprises of Orlando is developing the 8,000 square foot center.

For more information, contact:
Jed Downs, President Cuhaci & Peterson Architects, 407-661-9100
Lonnie Peterson, Chairman Cuhaci & Peterson Architects, 407-661-9100
Larry Vershel or Beth Payan, LV Communications, Inc. 407-644-4142

Island Hospitality Management Retained to Manage Recently Opened Atlantic City Courtyard by Marriott

Property Reopens Following Extensive Renovation and Repositioning

PALM BEACH, FL—Officials of Island Hospitality Management, LLC, one of the nation’s largest hotel management companies, has been retained to manage the newly opened 206-room Courtyard by Marriott Atlantic City Hotel (top right photo) following an extensive renovation of the property and conversion to the Courtyard brand.

The hotel was developed and is owned by Innkeepers USA Trust.
Located at 1212 Pacific Ave., just off the city’s famed boardwalk, (middle right photo below) the Courtyard is Atlantic City’s first, upscale non-casino/non-convention hotel to open in more than 25 years.

The smoke-free hotel’s guestrooms feature large flat-screen televisions, refrigerators and complimentary Internet access. The property’s plush lobby features extensive marble and upscale seating, highlighted by a floor-to-ceiling fireplace and crystal chandeliers.

The Courtyard offers 1,200 square feet of meeting space capable of handling groups of up to 44 people.

“This is a gorgeous property that has been completely made-over,” said Jeff Waldt, Island Hospitality’s senior vice president of marketing and sales.

“The hotel will appeal to a wide array of guests, including summer beach goers, business travelers, convention attendees, and gamers who want a great guest experience in the heart of the action but without all the hassles associated with the mega-casinos. This is a one-of-a-kind Courtyard that will offer a great upscale experience for both leisure and business travelers.

“We have extensive experience in marketing to and serving multiple guest segments in both urban and resort locations such as this.

"We have brought in one of our most seasoned general managers, Hugh Chandler, and director of sales, Deneen White, who together bring more than 35 years of hotel expertise to the property.”

Headquartered in Palm Beach, Fla., Island Hospitality Management, Inc. is a third-party, independent management company. It operates more than 70 hotels under 12 different brands, ranging from select-service to upper-upscale, full-service properties, in 22 states and the District of Columbia.

Additional information is available on the company’s Web site,


Julie Tullbane, Daly Gray Public Relations, T 703-435-6293. F 703-435-6297

Jerry Daly or Carol McCune, Daly Gray, (703) 435-6293.

Holliday Fenoglio Fowler's Office Deals Closed in Last 90 Days

International Acquisitions, Inc. Opens a $30M Real Estate Investment Fund

LOS ANGELES, CA /PRNewswire/ -- International Acquisitions, Inc.
(IA) looks to maximize advantages in an ever increasing foreclosure market
with a $30 million dollar Real Estate Investment Fund.

The media is filled with frantic reports of the foreclosure crisis. Foreclosure rates have increased by 12% over the last year. (RealtyTrac foreclosure map at top left)

The company says real estate options in the foreclosure market are broad -- not only in value -- but also in locations, as seen by the number of major cities with high foreclosure rates. Real estate investors don't have to wait for the
foreclosure to occur to approach homeowners in financial straits with the
possibility of a buy out.

International Acquisitions, Inc. Director, Scott Terrell says, "We are
excited about the prospects of capitalizing on an otherwise volatile
market. We have a dedicated team of specialists in the field of real estate
investing and finance and are ready to hit the ground running."

For additional information, please visit

Marcus & Millichap Retains Exclusive Listing for Retail Asset in Rockford, IL

ROCKFORD, IL-– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for Brynwood Square Shopping Center, a 122,281-square foot retail plaza in Rockford. The listing price is $11.9 million.

(Brynwood Square development, Rockford, IL, above. Shopping center site map is at right.)

Sean Sharko, a senior associate in the Oak Brook office of Marcus & Millichap, is representing the seller, JTJ LLC.

“Byrnwood Square is an excellent opportunity for an investor to acquire a grocery-anchored shopping center with historically high occupancy rates in a stable market,” says Sharko.

Located at the intersection of Spring Creek Road and Mulford Road, the shopping center is anchored by a 71,800-square foot Kroger Supermarket operating under the Hilander name. The property is across the street from a local high school and just blocks away from Rock Valley College.

Along with Hilander, Brynwood Square features a mix of regional and local tenants, including Angelo’s Restaurant, Baskin Robbins, Skin Deep, Camelot World Travel, Nails for You, Evolve Dance Company, State Farm Insurance, Stone’s Hallmark and Kiesling Hair Studio.

Press Contact: Stacey Corso
Communications Department
(925) 953-1716