Wednesday, August 27, 2008

CB Richard Ellis Closes 106,440-SF Office Building Sale in Orlando

ORLANDO, FL-- CB Richard Ellis has brokered the sale of the 106,440-sq.-ft. office building at 2290 Premier Row in Orlando, Florida. The transaction was handled through a coordinated effort of CBRE offices in Orlando, New York and Toronto.

In Orlando, Chris Sproles, First Vice President of Office Properties, Ray Romano, Vice President of Industrial Properties, and Ron Rogg, Executive Vice President of Investment Properties, represented the seller, Symcor, Inc. in this sale transaction.

The purchaser was HDG Mansur Investment Services, based in Indianapolis, Indiana. The property will continue to be used as an operations, data and check processing center.

For more information about Chris Sproles, (bottom right photo) visit

For more information about Ray Romano,(middle left photo) visit

For more information about Ron Rogg, (top right photo) visit

Media Contacts: Bill Moss, 407.839.3158,
Angelique Greven, 407.839.3140,

Marcus & Millichap Sells 120-Unit Apartment Community in Fort Collins, CO for $11.3M

DENVER, CO – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Landmark Apartments,(top left photo) a 120-unit apartment community in Fort Collins.

The sales price of $11.3 million represented $94,167 per unit price, a record price for 1980’s vintage property in Fort Collins.

Dave Potarf (bottom left photo) and Dan Woodward (top right photo), both vice president investments and senior directors of Marcus & Millichap’s National Multi Housing Group in Denver, and Jordan Robbins, an investment specialist also in the firm’s Denver office, represented the seller, a Delaware-based company.

Marcus & Millichap also represented the buyer, an Ohio based investor.

“Landmark was an excellent opportunity for the investor to acquire a well performing asset just a block away from the Colorado State University campus,” says Potarf.

Located at 1050 Hobbit St., the property contained 120 units in 12 buildings and was built in 1985.

Press Contact: David Potarf, (303) 328 - 2000

Raleigh Marriott City Center Celebrates Grand Opening

New 400 room luxury hotel features Posta Tuscan Grille, Bar Posta and a Starbucks Coffee Store

RALEIGH, N.C., Aug. 27, 2008- Privately held Noble Investment Group (“Noble”), a leading sponsor of private equity real estate funds and an integrated lodging and hospitality operating and development organization, today celebrated the grand opening of the 400-room Raleigh Marriott City Center (top right rendering) located at 500 Fayetteville Street and attached to the new 500,000 square foot Raleigh Convention Center.

The Raleigh Marriott City Center brings four-star luxury accommodations to the heart of the city’s urban core and is a key component of a vibrant new dining and entertainment district within the $1 billion renaissance of Raleigh’s city center.

The hotel’s inviting, grand lobby was designed to be the living room of the Raleigh and Wake County communities where guests can relax and unwind as they gather to enjoy the culinary creations of acclaimed chefs Marco and Gianni Betti’s Posta Tuscan Grille and neighborhood gathering spots, Bar Posta and Starbucks Coffee.

“We are very pleased and excited to have this prominent new Marriott in the heart of Raleigh’s city center,” said J.W. Marriott, Jr. (middle left photo), chairman and CEO of Marriott International, Inc.

“Noble Investment Group is an award winning partner of Marriott and we congratulate them on bringing this spectacular hotel to life for all residents and visitors to the Raleigh and Wake County areas.”

“Four years ago, we set out to determine the lasting future of our city’s downtown core, and as a result of an enormous amount of passion and commitment, today we celebrate the completion of an important anchor for that vision,” said Raleigh Mayor Charles Meeker. (middle right photo)

“The Noble organization has been an extremely valuable partner to us and delivered a magnificent hotel that will prove to be a great enabler to the success of the new Raleigh Convention Center and tourism in our region. The Raleigh Marriott City Center is a perfect example of how the public and private sectors can work together to realize goals of great significance to our community.”

“The commitment of this community’s leaders to make Raleigh a hub for world-class business, a prominent center for arts and culture, a destination for meetings and conventions, and a thriving place to live, dine and play, has fostered a remarkable transformation of this vibrant city,” said Mit Shah, (bottom left photo)senior managing principal and chief executive officer for Noble. “We are proud to be an integral part of this community and believe that our investment will bring a new level of hospitality and amenities that will continue to galvanize the landscape of Raleigh’s city center.”


Bonnie Herring (404) 262-9660

Heather Freeman (800) 987-9806

Tom Drew (919) 452-6190

Roger Conner (301) 380-5605

Jerry ( or Melanie (

Investments Valued at $44M Announced by Place/BV Student Housing Fund

ATLANTA and CHICAGO, /PRNewswire/ -- The Place/BV Student Housing Fund, LLC, a real estate investment fund focused on the acquisition and development of student housing properties nationwide, announced its most recent investments.

La Cantera Place serves the students of University of Texas, San Antonio (bottom left photo)(UTSA) and Rockdell Place will serve the students of Wright State University (middle right photo) in Fairborn, Ohio.

Both communities will open summer of 2009. BVP Managers, LLC, a joint venture between Atlanta, Georgia-based Place Properties, LP and Chicago, Illinois-based Blue Vista Capital Management, LLC, serves as the Manager of the Fund.

La Cantera Place will be the Fund's second asset in the San Antonio market. Hill Country Place, (middle left photo) the first asset, which opened this month, is 98 percent leased for fall.

La Cantera Place, located just a 1/2 mile from the UTSA campus, is well positioned to benefit from one of Texas's largest and fastest growing schools.

With an expected enrollment increase of over 1,500 students in fall 2009, La Cantera's 204-unit / 624-bed community will be a popular housing choice.

La Cantera will offer one-, two- and four-bedroom apartments with contemporary furnishings and private bathrooms. Each apartment will also offer a full kitchen with all major appliances, including washers and dryers.

Community amenities include a clubhouse with a state-of-the-art fitness center, computer lab and resort-style swimming pool. Rockdell Place, as the first purpose built, modern student housing community in Fairborn, will offer Wright State students a superior housing alternative.

In addition to offering 96 fully furnished four-bedroom, four- bathroom apartments, each with private bathrooms, Rockdell Place will include a clubhouse with computer lab, Place Zone online gaming center, state-of-the- art fitness center, indoor 1/2 basketball court, landscaped courtyard and surface parking.

Brent Little, (top right photo) National Development Partner for Place Properties said, "La Cantera Place is our second asset in the UTSA market and will build on the success of our Hill Country Place property, which opens to students this month. Rockdell Place is our first asset in the Wright State market, which has seen no new student properties built to serve this growing enrollment."

Blue Vista Capital Management, LLC is a leading national real estate investment management firm with in excess of $550 million in capital under management.

Blue Vista has participated in joint ventures representing over $3.0 billion in total capitalization.Place Properties, LP, has over 14 developments in various stages of construction nationwide making it one of the largest multifamily development and construction organizations in the country.

Place Properties has developed more than $800 million of student housing properties since 1996 and currently manages more than 17,000 beds.

Contact: Jessica H. Nix Director of Marketing and Public Relations 404-495-7591

GVA Advantis Names Lucas Hewett as New Managing Director for Tampa Office

TAMPA, FL– GVA Advantis has named Lucas Hewett (top right photo) as the new managing director of GVA Advantis’ Tampa office. Hewett will be responsible for building and overseeing the region’s leasing, sales, construction, property management and new business development activities.

Hewett joined GVA Advantis in 2002 as a broker specializing in landlord and tenant representation and earned the company’s “Rookie of the Year” award. By 2005 he was leading the Tallahassee office, and soon after was managing additional Florida offices in Panama City and Destin. By 2007, Hewett was a member of GVA Advantis' executive committee and oversaw operations for the state of Florida.

With GVA Advantis now under new leadership, Hewett was immediately recognized as a valuable asset and currently serves on the company’s board of directors. Lucas' local focus will be on the Tampa office in a “player-coach” role.

“I’m excited about the direction our company is taking,” enthuses Hewett. “We have a lot of core talent in our Tampa office, and I look forward to building on it.” Hewett will serve as an active broker while overseeing the office’s daily operations.

“In the years Lucas managed the northwest Florida region, he’s had a very effective record of profitability, gained market share, and nurtured and grew our company’s relationships with numerous major clients and land owners.

"Tampa is an important market, and under Lucas’ leadership, I am convinced Tampa will become one of the most profitable regions in the company,” states Richard Pogue, president and chief executive officer.

Recently, Hewett was a finalist for the 2008 Tallahassee Chamber Leadership Pacesetter Award. He has also served on the Growth Management Committee for the Tallahassee Area Chamber of Commerce and is a member of Emerge Florida, Leadership Florida and a graduate of Leadership Tallahassee. Industry affiliations include the International Council of Shopping Centers (ICSC) and the National Association of Realtors.

Hewett has served on the board of directors for Turn About, Inc., the Tallahassee Senior Center Foundation and the Tallahassee Habitat for Humanity. A Florida native, Hewett is a graduate of Palm Beach Atlantic University and is a licensed real estate broker in the states of Florida, Georgia and Alabama.

Media Contact: Lisa Hyde, GVA Advantis, 3000 Bayport Drive, Suite 100. 813.342.4752

HFF arranges debt and equity totaling $46.5M for Encinitas, CA mixed-use development

SAN DIEGO, CA – The San Diego office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged a construction loan and joint venture equity for the development of Pacific Station,(top right photo) a Whole-Foods anchored mixed-use project in the northern San Diego city of Encinitas, California.

Working exclusively on behalf of Pacific Station Property, LLC, a venture by John DeWald & Associates and Phase 3 Properties, HFF senior managing director Tim Wright (middle left photo) and associate directors Rob Hinckley and Zach Koucos (middle right photo) placed the $36.5 million, 60-month construction permanent loan with La Jolla Bank. HFF also secured $10 million in joint venture equity with Fidelity Real Estate Group.

Upon completion in fourth quarter 2009, Pacific Station will have 38,500 square feet of retail including Whole Foods and a signature restaurant, 10,000 square feet of office space, 47 residential units and a two-level underground parking garage.

All components of the project will be condo-mapped and can be sold off by the suite. Residential units will range from 702 square feet to more than 2,000 square feet in one- to three-bedroom layouts.

Whole Foods will anchor the retail space with approximately 25,000 square feet. Pacific Station is situated on 1.39 acres between E and F Streets along the Coast Highway 101, three blocks from the Pacific Ocean and one block from the Metropolitan Transit Station’s Encinitas “Coaster” Station.

“Pacific Station is designed to fully integrate into the downtown Encinitas streetscape, while meeting the demand for retailers, professionals and residents,” said Wright.

John DeWald & Associates is a San Diego-based company that provides real estate consulting, development and construction services.

San Diego-based Phase 3 Properties specializes in commercial real estate development, brokerage and management.

Fidelity Real Estate Group pursues value-added real estate investment opportunities throughout the U.S. on a fully discretionary basis for its managed funds.

The Fidelity Real Estate Group is a division of Pyramis Global Advisors, a Fidelity Investments company. Fidelity Real Estate Group manages in excess of $12 billion on behalf of institutional and accredited individual investors as of March 31, 2008.
Timothy D. Wright, HFF Senior Managing Director, 858 552 7690,
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990,