Monday, September 21, 2009
Ingham is Executive Vice President in Jones Lang LaSalle’s Orange County office. He is responsible for assisting clients with their Southern California transactions as well as working with clients on their national and international real estate needs. Mr. Ingham has extensive experience assisting Fortune 500 and local Orange County companies with portfolio strategy, transaction management, site and building acquisitions/dispositions, sublease dispositions and lease transactions.
“For the past six years, Leland has done an exceptional job in leading our team in Orange County,” said John Gates, (middle left photo) President of Brokerage for Jones Lang LaSalle. “We are confident that he will continue to play an integral role in satisfying the needs of our clients.”
Contact: David Ebeling, Ebeling Communications, 949.278.7851, email@example.com
In his new role, he will be responsible for leading and growing HWE’s select service division, including brokerage, investment and advisory services. He will work closely with Anthony Falor, who will remain managing director of the select service division. HWE has closed more than $2 billion in select service transactions in the past five years. Select service currently represents approximately 30 percent of HWE’s transaction volume.
Contact: Jerry Daly or Chris Daly, (703) 435-6293
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BERKELEY HEIGHTS, N.J., Sept. 21, 2009—Davidson Hotel Company, one of the nation’s largest independent hotel management companies, today announced that it will manage the 244-room Westin Berkeley Heights in eastern New Jersey, 22 miles from New York City. The new-build property is situated in the 185-acre Connell Corporate Park. It is the first hotel Davidson will manage for owner, The Connell Company.
“This is a superb location for an upscale lodging project, in a major office park with a large existing corporate tenant base, situated in a high-income area with significant barriers to entry,” said Steve Margol, (top right photo) Davidson’s chief investment officer.
“Our extensive experience with pre-opening/opening and operating upscale hotels and resorts, including three other Westin products, will enable us to quickly establish the Westin Berkeley Heights as a market leader. In addition to the obvious corporate and group meetings business potential, we also plan to focus on the local social market, which our research determined is underserved.
“The addition of the Westin Berkeley Heights to our ever-growing portfolio of premier hotel assets marks the continuation of our very successful third-party management platform,” he noted.
“The property will become our fourth Westin and our tenth Starwood-branded asset. The Connell Company has a sterling reputation in the region, and we are proud to add them to our growing roster of institutional and high net-worth clients.”
“This upscale, full-service hotel marks our entry into the hospitality industry and is a perfect complement to our office park, whose Life Time Fitness Athletic club and five Class A commercial office buildings with more than 30 corporate tenants represent a significant built-in source of demand,” said Shane Connell, executive vice president, The Connell Company.
Cyndi Norwood, Davidson Hotel Company, (901) 821-4155, firstname.lastname@example.org
Jerry Daly, Chris Daly (media), Daly Gray Public Relations, (703) 435-6293, email@example.com
Sarasota, Florida—September 21, 2009— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on September 17, 2009, in the amount of $1,520,000 for the TD Bank Ground Lease in Coconut Creek, Florida.
Brad Cox (top right photo), CCIM, CPM, Company Vice President, financed the TD Bank Ground Lease through Thomas D. Wood and Company’s correspondent relationship with Summit Investment Advisors.
The borrower acquired the parcel of land to lease to TD Bank to build a branch office. The loan term is 10 years, based on a 25-year amortization and a loan-to-value of 60%. The TD Bank branch will be built on 0.9 acres, located at 6700 State Road 7, Coconut Creek, Florida.
For further information, please contact:
Brad Cox, CCIM, CPM, (941) 552-9731, firstname.lastname@example.org
Jessica Gurtowski, (407) 937-0470, email@example.com
Interstate Hotels & Resorts/JHM Hotels’ JV Management Co. to Open Four Points® by Sheraton in Jaipur, India
ARLINGTON, VA, Sept.r 21, 2009—Interstate Hotels & Resorts (NYSE: IHR), a leading hotel real estate investor and the nation’s largest independent hotel management company, today announced that its India-based joint venture management company, JHM Interstate Hotels India, will open its first managed hotel in India, the 115-room Four Points® by Sheraton Jaipur, (top right photo) City Square, in October.
It will be the second Four Points hotel to open in the country and the first project developed by Duet India Hotels Limited, a U.K.-based, real estate investment group dedicated solely to hotel investment and development in India. Interstate and JHM Hotels, its JV partner, have an equity interest in Duet, which provides JHM Interstate Hotels India the first opportunity to manage the hotels developed or acquired by Duet.
“With the opening of this hotel, we will add a sixth country outside of the United States, our first in the Asia Pacific region, to our management portfolio as we continue to extend our reach internationally,” said Thomas F. Hewitt, chairman and chief executive officer. “India remains one of the world’s fastest growing economies, with projected growth of 5 to 6 percent this year despite the global economic downturn.”
Jaipur (center photo) is part of India’s Golden Triangle, along with Delhi and Agra, site of the Taj Mahal, and has long been a major tourist mecca. More recently, the city, which is the capital of the state Rajasthan, has become a hotbed of economic development activity, which is decreasing its reliance on leisure business alone and attracting growing numbers of business travelers with a need for lodging.
In June, Jaipur opened a new international airport, dramatically improving domestic and international access to the city. “We believe the Four Points brand will appeal to both travel groups, with its exceptional amenities, comfortable and stylish decor and value pricing,” he added.
Contact: Carrie McIntyre, SVP, Treasurer, (703) 387-3320
“Chris is a wonderful complement to HFF’s existing debt placement team and brings with him extensive knowledge and relationships in the multi-housing/agency lending sector,” said Scott McMullin, (bottom left photo) an executive managing director of HFF Los Angeles.
He has more than five years of experience in the commercial real estate industry and throughout the course of his career has been personally involved in more than $750 million in commercial real estate transactions including numerous agency financings.
Scott F. McMullin, Ca. Lic. # 01278290, HFF Executive Managing Director, (310) 407-2100, firstname.lastname@example.org
Kristen M. Murphy, HFF Associate Director, Marketing(713) 852-3500, email@example.com