Thursday, October 9, 2008

Cuhaci & Peterson Wins Winn-Dixie and Food Lion Contracts

Remodeling Project For Food Lion Store in Selma, N.C. Will Total 30,000 SF

ORLANDO, Fla. – Cuhaci & Peterson Architects, based in Orlando’s Baldwin Park, has been awarded a contract to design the remodeling of a 30,000 square foot Food Lion supermarket located in Selma, N.C.
Lonnie Peterson, (top right photo) chairman at Cuhaci & Peterson Architects, said the facility is being developed by Food Lion and is in the design stage now.

Three Winn-Dixie Store Jobs Each Total 48,000 SF

The company also has a contract to design Three Florida Winn-Dixie Remodeling Projects in Pasco, Marion and Citrus Counties

The three remodeling projects, which are located at retail centers in Zephyrhills, Dunnellon and Beverly Hills, Fla. are all 48,500 square foot Winn-Dixie facilities, Peterson said.

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

Arbor's Stephen York Closes Five DUS® Loans Totaling $16,206,700

UNIONDALE, NY, Oct. 8, 2008-– Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of five (5) loans totaling $16,206,700 under the Fannie Mae DUS® product line.

The loans were originated by Stephen York, (top right photo) Director, in Arbor’s full-service Uniondale, NY lending office. “We were very pleased with the recent funding of these transactions,” said York. “We look forward to our continued success with each of these clients.”

The loans include:

Park East Apartments, (bottom left photo) Valdosta, GA – Acquisition of a 100-unit complex in the amount of $3,186,200 under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.24 percent.

Park at Walkers Landing Apartments, Magnolia, TX - Acquisition of a 64-unit complex in the amount of $2,065,800 under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.25 percent.

Wellington Green MHC, Clarksville, IN - A loan for 319-unit complex in the amount of $6,790,700 under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.48 percent.

Sherwood Arms, (middle right photo) Columbus, GA - Refinance of a 165-unit complex in the amount of $2,000,000 under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.48 percent.

Wilshire Apartments, Dorchester, MA – Refinance of a 29-unit complex in the amount of $2,164,000 under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.78 percent.

Contact: Ingrid Principe, Tel: (516) 506-4298

HFF secures $18.25M financing for One Beach Street in San Francisco

SAN FRANCISCO, CA – The San Francisco office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it secured $18.25 million in financing for One Beach Street, (top right photo) a 97,614-square-foot, three-story office building in San Francisco, California.

Working on behalf of The Swig Company and Angelo Gordon & Company, HFF managing director Bruce Ganong placed a 65% loan to value, non-recourse bridge loan with John Benson of Washington Mutual.

The financing was secured to recapitalize Swig’s all-cash purchase of the historical office building earlier in 2008. The loan closing coincided with the formation of the joint venture between Swig and Angelo Gordon.

Built in the 1920s, One Beach is located across The Embarcadero from Pier 39 in the North Waterfront submarket of San Francisco.

The property is currently 100% leased and has views of San Francisco’s waterfront and some of the city’s most famous landmarks including Coit Tower, Fisherman’s Wharf, Alcatraz and the Golden Gate Bridge.

(Middle right photo: Rincon Park and Cupid's Span with the San Francisco skyline and The Embarcadero in the background.)

“Closing this financing in such a turbulent market is a testament to the quality of the asset and the sponsorship behind the transaction.

"Credit for the closing is also deserved by Washington Mutual and its team, which displayed a high degree of professional integrity at a time when there was a lot of uncertainty in the capital markets,” said Ganong.

The Swig Company’s San Francisco Bay Area portfolio includes 15 buildings totaling more than 3.5 million square feet and a market value in excess of $1.2 billion.

Angelo, Gordon & Co. is a privately-held registered investment advisor dedicated to alternative investing. The firm was founded in 1988 and currently manages, with its affiliates, approximately $20 billion.

Bruce Ganong, HFF Managing Director, 415 276 6940,
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990,

Gemstone Hotels & Resorts Selected to Concept and Manage Two New Boutique Hotels

Firm Steps up Activity in Creating One-of-a-Kind Boutique Hotels & Resorts

PARK CITY, UT—Officials of Gemstone Hotels & Resorts, a full-service hotel management and asset management company that specializes in luxury and upscale urban hotels and complex, multi-faceted resorts, has entered into agreements with two separate development groups to concept and manage two new luxury properties.

The Historic Hilltop House Hotel (top right photo) in Harpers Ferry will be completely redeveloped and transformed into a luxury hotel and spa, and the Hotel Ithaca in Ithaca, New York will be Ithaca’s first high-end boutique hotel and one of only two luxury boutique hotels in the Finger Lakes region.

“We have been involved in the concepting of numerous unique, highly successful properties over the years, and these two new projects will be among the most fascinating,” said Thomas Prins, (middle left photo) Gemstone principal.

“We have established a proven track record of creating one-of-a-kind destination properties whose uniqueness gives them a long-term sustainable competitive advantage. We will work on the creation of these new properties in harmony with our partners to create a singular experience for our guests, both in the physical attributes and the high-touch service we will provide.

“We specialize in creating and operating boutique four- and five-star level urban hotels and complex resorts that feature multiple facets, such as spas, retail, and exclusive restaurants,” he noted.

“In this phase of the hotel real estate cycle, we are focused more on development and concepting, working with our partners seeking to create a unique and highly profitable hotel experience, when most other developers and investors are on the sidelines.”

The Historic Hilltop House Hotel & Spa
Located in Harpers Ferry at 400 East Ridge Street in the Historic District recently featured on the television program, Good Morning America, The Historic Hilltop House overlooks Harpers Ferry National Park, at the confluence of the Potomac and Shenandoah Rivers.

After the completion of the restoration and modernization of the property, the 150-room hotel will feature a signature restaurant, unique meeting and event spaces and a destination spa that will feature both indoor and outdoor experiences.

“This will arguably be the finest destination hotel in the region,” said Gemstone principal Jeff McIntyre. (bottom left photo) The historic United States Armory houses surrounding the hotel will be carefully restored to serve as guest cottages and the hotel will be brought up to the latest 21st century standards.

The property will be a natural for small group meetings, social events, romantic getaways, and guests who want to experience the many nearby attractions.”

Scheduled to open in 2011, the property is in the heart of Northern Virginia wine country, near major historic Civil War battlefields, and connected to the historically significant Harpers Ferry town center, with a riverside location offering breathtaking vistas. The property is serviced by rail and highway and is about an hour from downtown, Washington, D.C.

Hotel Ithaca
Hotel Ithaca, currently in final planning and approval, is expected to open in 2011. The property will be a nine-story, full-service boutique hotel at the intersection of State and Aurora Streets.
The hotel will feature 125 luxury rooms and suites and 2,000 square feet of flexible meeting space. The hotel will be built on the same site as the original Hotel Ithaca. In addition, the hotel will be the home of the original Zinck’s Bar, a cherished icon of the city’s past.

(Left photo: Zinck's Log Cabin, Pleasantville NJ, 1941. Machines include Bally's Rapid-Fire (1941) and a Wurlitzer 850 "Peacock" jukebox. R.Bueschel)

“We welcome the opportunity to be involved with the first luxury boutique hotel in the Ithaca area,” said Prins. “Because the city is also home to the world renowned Cornell Hotel School, we are very excited to set a new standard in concept and operations and set an example for students and the many hotelier alumni who visit the school.”

About Gemstone Hotels & Resorts
Headquartered in Park City, Utah, with an office in Stamford, Conn., Gemstone Hotels & Resorts is a full-service management and asset management company that specializes in luxury and upscale urban hotels and complex resorts.

The company is engaged in resort and unique hotel marketing and management and asset management for a variety of major hotel real estate investors and owners. Gemstone currently manages or asset manages more than 20 projects. Additional information about the company may be found at

CONTACTS: Jerry Daly or Chris Daly, media, 703 435 6293

Heidrich Closes Four Leases for NAI Realvest in Metro Orlando

ORLANDO, FL--NAI Realvest recently negotiated the following lease agreements.

Tom Kelley, (top left photo) CCIM represented the landlord, Parliament Loop, LLC of Lake Mary in negotiating a new lease of 2,725 square feet to Trinity Mortgage Corp. at 153 Parliament Loop at Regency Pointe office park in Lake Mary.

• Kelly also negotiated two lease renewals totaling more than 2,500 square feet of office space representing Dallas-based landlord Tarragon Corporation at Orlando Central Park. Managed Medical Equipment, Inc. renewed its lease of 1,909 square feet and Florlando Properties, Inc. renewed its lease of 605 square feet.

• At Goldenrod CommerCenter, (middle right photo) 1460 N. Goldenrod Rd. in Orlando, Orlando-based Central Florida Sign Works, Inc. and Interstate Sign & Light Corp. renewed the lease of its current 2,206 square feet in suite 225 and expanded into suite 105 with the lease of 2,000 additional square feet at the center. Michael Heidrich (top right photo), principal at NAI Realvest negotiated the lease agreements representing the landlord, COP-Goldenrod, LLC of Maitland.

• Also at Goldenrod, Heidrich negotiated a new lease on behalf of landlord, with Felo’s Brothers Enterprises, Inc. of Orlando who will occupy Suite 125 with 2,000 square feet.

• At Monroe CommerCenter South, (bottom left photo) 691 Progress Way in Sanford, Heidrich represented COP-Monroe LLC in the lease of 6,000 square feet to Deltona-based Nu Water Solutions of Florida, LLC.

• In Orlando Heidrich negotiated a lease agreement for 1,440 square feet of industrial space at Herndon Commerce Center, 625-D Herndon Ave. representing the landlord LBJ Properties of Winter Park. The tenant, Orlando-based P.T. Hutchins Company Ltd., was represented by Lou Payas of USAA Realty Company.

About NAI Realvest

NAI Realvest, with offices in Orlando, Daytona Beach and Clermont, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide.

NAI Global is an international commercial real estate network with over 325 offices spanning the globe.
Since 1978, clients have built businesses on the power of NAI Global’s expanding network.

Extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services.

To learn more, visit

For more information, please contact

Tom Kelley, CCIM, Principal NAI Realvest 407-875-9989
Michael Heidrich, Principal, NAI Realvest 407-875-9989 or
Janice Paiano, Director of Marketing, NAI Realvest, 407-875-9989 or;
Beth Payan, Larry Vershel Communications 407-644-4142