Monday, August 16, 2010
Colliers International Completes $11.42M Sale of a 208,493-SF Industrial Property in Simi Valley, CA
SIMI VALLEY, CA (Aug. 16, 2010) – Colliers International, the second largest real estate services organization globally, has completed the sale of 208,493-square-foot industrial property at 2900-2950 Madera Rd. (bottom left photo) in Simi Valley, Calif., to Kingsbridge International, Inc., an importer / wholesaler of housewares and giftwares.
The transaction is valued at $11.42 million.
The two-building property is comprised of a 135,683-square-foot distribution building and a 72,810-square-foot office building. Kingsbridge will be relocating to this location from their Chatsworth, Calif. headquarters, and will occupy the distribution building.
“Kingsbridge was attracted to this property because the quality of the real estate and the price point were incredibly attractive. Our client will operate its business from the 135,683-square-foot distribution building and will lease the office building back to the seller, Bank of America,” said John DeGrinis, (top right photo) SIOR, executive vice president, who represented the buyer in the transaction, along with Patrick DuRoss, (bottom right photo) senior associate, and Jeff Abraham (top left photo), associate, all of TEAM DeGRINIS based in Colliers International’s Encino, Calif., office.
Abraham added, “Once Kingsbridge saw that the functionality, image, size and location of the distribution building were all exceptional for its use, they became very excited about this opportunity as an investment in Kingsbridge’s operations, as well as a great real estate investment opportunity.”
TEAM DeGRINIS is a specialized group within Colliers International that provides consulting on industrial and R&D real estate requirements in the North Los Angeles region.
For more information, visit www.colliersmn.com/teamdegrinis.
Contact: Megan Morales, Marketing & PR Coordinator, 949 724 5537
Morrison Commercial Real Estate Completes Office Lease Transactions Totaling 31,243 SF at Parkway Buildings in Maitland and Downtown Orlando
ORLANDO, FL (Aug. 16, 2010): Greg Morrison, CCIM, SIOR, Principal of Morrison Commercial Real Estate, announced the completion of two office lease transactions totaling 31,243± square feet for their client Parkway Properties.
Greg Morrison (bottom right photo) and Emily Zinaich (top right photo) represented Parkway in leasing 21,391± square feet to Welbro Building Corporation for a total of six (6) years at the Maitland 200 building. Tony Jones of Newmark Knight Frank in Miami represented the Tenant in this transaction.
Contact: Buffy Gillette, Phone: 407.219.3500, Email: email@example.com
PCCP and Ohio Public Employees Retirement System (OPERS) Form New Venture to Originate Senior Commercial Mortgages
According to Don Kuemmeler (top right photo), founding partner of PCCP, “The great recession has reduced the number of skilled, entrepreneurial lenders who understand fundamental real estate value and who make and hold commercial real estate mortgages on their balance sheets.
"The PCCP and OPERS venture intends to offer a shorter-term, flexible first mortgage product for owners with a value-added business plan. We expect to hold these loans to maturity, and service our customers with creative solutions, as PCCP has done over the past 12 years.”
With a national focus, the venture will make loans secured by all major asset types (office, multifamily, retail, industrial and hospitality).
“We are excited to be teamed up with the Ohio Public Employees Retirement System. OPERS recognized a need in the market, and we expect to have many opportunities to make excellent investments in the coming year,” said Adam Zoger, a principal in PCCP’s San Francisco office.
PCCP, LLC is a premier real estate private equity firm focused on commercial real estate debt and equity investments. PCCP has over $6 billion under management in multiple closed-end funds and joint ventures with institutional investors.
With 33 investment professionals and 50 employees across four offices located in New York, San Francisco, Sacramento and Los Angeles, PCCP invests throughout the United States. Learn more about PCCP at www.pccpllc.com.
With assets of $68.3 billion, OPERS is the largest public pension fund in Ohio and the 12th largest public pension fund in the U.S.
Contact: Darcie Giacchetto, Spaulding Thompson & Associates, Inc., 949-278-6224
The asset commanded a sales price of $4,000,000.
They were engaged as the exclusive agent to market the property on behalf of the seller, a single purpose LLC under the direction of a publicly traded Midwestern company.
The property is located at 722 West Kennedy Boulevard. The site is suitable for a number of residential and commercial uses. The buyer has made other acquisitions in the area, but did not disclose any immediate plans or intended uses.
DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured a $10.4 million financing for Red Oak Village, (top left photo) a 176,693-square-foot retail power center in San Marcos, Texas.
Working on behalf of Lincoln Property Company, HFF associate director Travis Anderson placed the 10-year, 5.5% fixed-rate first mortgage with Southwest Bank.
Completed in 2007, Red Oak Village is 87% leased to tenants including Best Buy, Marshalls, Bed Bath & Beyond, PetSmart, Ross Dress for Less and Carl’s Jr.
The property is located at 2233 Interstate 35 South close to Texas State University and the Prime and Tanger Outlets in San Marcos, about halfway between Austin and San Antonio.
Lincoln Property Company is nationally recognized for its full-service, vertically integrated institutional investment and property management platform.
Since 1965, Lincoln has acquired and developed approximately $34.3 billion of residential and commercial property. Lincoln currently maintains a presence in 200 cities in the United States and currently manages over 120 million square feet of commercial properties and 135,000 multi-family units across the country.
Travis Anderson, HFF Associate Director, (214) 265-0880, firstname.lastname@example.org
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, email@example.com
Orlando, FL – Aug.t 16, 2010– Cushman & Wakefield of Florida, Inc. (C&W) Office Brokerage Senior Director Richard Solik (top right photo) announced a renewal for Walter P. Moore and Associates, Inc in Lincoln Plaza downtown.
Mr. Solik represented the tenant, in the six-year deal for 5,400 sf. Lincoln Properties represented the landlord in the deal which commences on October 1.
The Houston-based engineering firm has worked on many high profile projects in Orlando including the Orlando Convention Center, Downtown Disney West and the Orlando International Airport.
Contact: Brook Hines, Tel: 407-541-4401
GREENBELT, Md., Aug. 16, 2010—Officials of Chesapeake Hospitality, a highly ranked third-party hotel management company, today announced the names of its top performing hotels and operators, each of whom was formally recognized during the company’s 19th annual general managers conference held recently in Maryland.
“Our top performing properties and general managers continue to outpace the industry in terms of marketshare and guest satisfaction scores, impressive results achieved during one of the most difficult operating environments in our industry’s history,” said Kim Sims, Chesapeake president.
All winners were selected on performance-based criteria. This year’s winners include:
1. John Eliot; Holiday Inn Laurel East, Md. (top left photo)—New Comer of the Year/New GM Award (awarded to the hotel with the highest combination score of guest satisfaction, sales and marketing, brand citizenship and financial performance within the first 18 months of a new general manager’s start date)
Headquartered in Greenbelt, Md., just outside of Washington, D.C., Chesapeake Hospitality is a mid-sized, third-party hotel management company with a proven track record in both full- and select-service hotels.
For additional information, visit the company’s website: http://www.chesapeakehospitality.com/.
(media) Chris Daly, Senior Vice President; Jerry Daly; Daly Gray Public Relations, ph: 703-435-6293, firstname.lastname@example.org or email@example.com
Follow us on Twitter: http://twitter.com/dalygray
Joseph F Smith, management inquiries, (216) 496-9120, firstname.lastname@example.org
Uniondale, NY (Aug. 16, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $8,000,000 loan under the Fannie Mae DUS® Loan product line for the 102-unit multifamily building known as 309 West 57th Street (top left photo) in New York, NY.
The five-year loan amortizes on a 30-year schedule and carries a note rate of 4.65 percent.
The loan was originated by Alexander Kaushansky (middle right photo), Director, in Arbor’s full-service New York, NY, lending office.
Helping to arrange the financing for the borrower was Zev Pollak, the broker of the deal, who noted, “The borrower was pleased with the fact that he received a below-market interest rate.”
Arbor Appoints Jennifer Caluri-Sullivan as Vice President, Marketing
She reports to Bonnie Habyan, (bottom right photo) Senior Vice President, Marketing.
Ms. Caluri is responsible for executing all phases of internal and external sales, employee, client and other corporate events.
Ms. Caluri possesses more than 14 years of real estate marketing experience. Prior to joining Arbor, Ms. Caluri held the position of Director of Marketing and Corporate Communications at Greystone & Company, Inc., where she provided organizational leadership in identifying new business opportunities through advertising, public relations and special event initiatives, while also cultivating long-standing business relationships.
Ms. Caluri received a Bachelor of Business Administration-Marketing degree from New York’s Bernard Baruch College. Ms. Caluri is also a New York State-licensed real estate broker. She resides in Fair Lawn, NJ.
Saturday, August 14, 2010
TAMPA, FL, August 13, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Casa del Sol, (top left photo) a 20 unit, garden apartment property located in Tampa, FL, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.
The asset commanded a sales price of $450,000 or $22,500/unit.
Casey Babb, (lower right photo) CCIM, a Senior Investment Specialist, and Luis Baez, an Investment Specialist in Marcus & Millichap’s Tampa office, facilitated the transaction on behalf of both the Seller, a regional bank, and the Buyer, a local private investor.
Casa del Sol is a 1970’s vintage, garden apartment community located at 6001 South Dale Mabry Highway in a desirable South Tampa submarket.
The property consists of all 2 bedroom / 1 bath units which are housed in a single, 2-story block building.
Babb commented, “The Casa del Sol transaction is an example of an emerging trend in which the Buyer had formerly owned the property so he was willing to act quickly.
" In this case, the investor had sold the property in 2005 near the height of the market and was able to repurchase the property at 37.5% of the previous sales price. Because of his familiarity with the real estate, he was able to conduct a very short due diligence and closed in 30 days.”
Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700
Larry Dale, President/CEO of Orlando Sanford International Airport, Named FDOT Aviation Professional of the Year
Larry Dale, (center) CEO of Orlando Sanford International Airport, flanked by Stephanie Kopelousos, Secretary of Florida Department of Transportation, and Aaron Smith, FDOT Aviation Manager.
SANFORD, FL – Recently (Aug. 10) at the annual Florida Airports Council Conference, the Florida Secretary of Transportation Stephanie Kopelousos and Florida Department of Transportation (FDOT) State Aviation Manager Aaron Smith presented the annual aviation awards, naming Larry Dale, president and chief executive officer of the Orlando Sanford International Airport (OSIA), the 2010 Aviation Professional of the Year.
The recipient of this prestigious award has made a significant contribution to Florida aviation or made a continuing commitment to and significant achievements in Florida aviation over a period of years.
The various aspects of aviation to be considered include, but are not limited to, technological research or advancement, airport management, airport construction or maintenance, airport design, air safety, aviation legislation and Florida aviation business.
Mr. Dale, who has served as President and CEO of Orlando Sanford International (top right photo) for the past nine years, was cited for his diligent effort and success in bringing growth and development to the airport, largely due to his innovative and tenacious approach to problem–solving.
As he stated at the time, ‘Airport personnel should not be fearful of prosecution in doing what is necessary to keep people safe.’
In typical Larry Dale-fashion, he immediately enlisted the support of State of Florida Representative Scott Plakon (middle left photo) and Senator Carey Baker (middle right photo) and worked with them to draft and promote a bill entitled the Airline Safety and Wildlife Protection Act.
Airport President Larry Dale on accepting the award thanked the FDOT and noted how blessed he was to have been a part of the Haiti relief effort.
“There is just no way to explain the feeling when adoptive parents who have been united with their children come to you in gratitude and tell you that you will always be a part of their family. It’s just an incredible feeling.”
Contact: Sanford Airport Authority, Diane Crews, Phone: 407-585-4010, Email: dcrews@OSAA.net
Friday, August 13, 2010
ORLANDO, FL--The donated funds were part of the Chapter’s continued giving efforts. The donations were in honor of Lee Strickland, (top right photo) a local civil engineer who was one of 230,000 people to perish in the January 12, 2010 earthquake in Haiti.
SMPS Central Florida continually gives to both local and national charities through member donations, chapter donations, and fundraising efforts.
The Society for Marketing Professional Services (SMPS) is the premiere organization of marketing experts for the architecture, engineering, and construction industries, SMPS provides excellent educational resources and networking in an exciting and professional environment.
Contact: Richelle Siska, CPSM, Marketing Coordinator, Woolpert, 3504 Lake Lynda Drive, Suite 400, Orlando, FL 32817
Direct: 407.591.5038, Office: 407.381.2192
Fax: 407.384.1185, email@example.com, http://www.woolpert.com/
NORFOLK, NB– Supertel Hospitality, Inc. (NASDAQ: SPPR), a real estate investment trust (REIT) which owns 111 hotels in 23 states, today announced its results for the second quarter ended June 30, 2010.
Revenues from continuing operations for the 2010 second quarter increased 3.1 percent to $24.7 million, compared to the same year-ago period.
The decrease was primarily the result of $4.5 million of impairment. Funds from operations (FFO), which includes the impairment expense, for the 2010 second quarter was $(1.5) million, or $(0.07) per diluted share.
For a complete copy of the company's news release and financials, please contact:
Jerry Daly, Carol McCune, Daly Gray, (Media Contact), 703.435.6293
ORLANDO, FL, Aug. 13 /PRNewswire-FirstCall/ -- The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a quarterly dividend on its Series C Cumulative Redeemable Preferred Stock of 46.09375 cents per depositary share payable September 15, 2010, to shareholders of record on August 31, 2010. The dividend represents an annualized rate of $1.84375 per depositary share.
National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.
As of June 30, 2010, the company owned 1,014 Investment Properties in 43 states with a gross leasable area of approximately 11.4 million square feet. For more information on the company, visit www.nnnreit.com.
Contact: Kevin B. Habicht, Chief Financial Officer, National Retail Properties, Inc., +1-407-265-7348
Verandas at Sam Ridley was developed in 2009 and is located at the intersection of I-24 and Sam Ridley Parkway.
Property amenities include large floor plans averaging 1,164 square feet, garages, media and business centers and a pool with outdoor spa. The apartment homes feature stainless finish appliances, crown molding and sunrooms or screened porches.
Commenting on the announcement, Al Campbell, (top right photo)EVP and CFO said, "We are excited to be increasing our presence in the Nashville MSA with its diverse economic base which continues to support strong population growth."
The acquisition, totaling $32 million, was funded by borrowings under existing credit facilities and common stock issuances through MAA's at-the-market program.
Contact: Investor Relations of Mid-America Apartment Communities,
+1-901-682-6600, or firstname.lastname@example.org
Web Site: http://www.maac.net/
CALGARY, ALBERTA /PRNewswire-FirstCall/ -- Boardwalk Real Estate Investment Trust ("BEI.UN" - TSX), Boardwalk Real Estate Investment Trust ("Boardwalk", "Boardwalk REIT" or the "Trust") announced financial results for the second quarter of 2010:
Funds From Operations ("FFO") per unit down 5.7% and Distributable Income ("DI") per unit down 5.7% compared to the same period last year; and confirmed its August, September, and October 2010 Monthly Distribution of $0.15 per Trust Unit. FFO and DI are non-GAAP measures; the reconciliation to Net Earnings and Total Operating Cash Flows, respectively, can be found in the Management's Discussion and Analysis (MD&A) for the second quarter ended June 30, 2010, under the section titled, "Performance Measures".(1)
(Calgary skyline bottom right photo)
For a complete copy of the company's news release and financials, please contact:
Boardwalk REIT: Sam Kolias, CEO, (403) 531-9255;
Roberto Geremia, President, (403) 531-9255;
William Wong, CFO, (403) 531-9255
TAMPA, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Rodeway Inn (top left photo) , a 99 room Hospitality property located in Tampa, FL, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.
Rodeway Inn is located at 4139 E. Busch Blvd.
Most recently, Hamilton held the position of senior associate.
Hamilton began his career with Marcus & Millichap in 2001, specializing in multifamily investment sales.
In his new position, Pontius will oversee all commercial leased investment property divisions for the firm, including the National Retail Group (NRG).
He will retain his position as national director of the National Office and Industrial Properties Group (NOIPG), which he held for the past nine years. The NOIPG is one of Marcus & Millichap’s fastest-growing specialty groups.
Pontius is based in the firm’s San Francisco office.
In 1985, Pontius began his career with Marcus & Millichap as a sales associate, and in this capacity he consistently ranked among the firm’s top 25 investment specialists. In 1993, he was appointed regional manager of the Palo Alto office, where he led that office to consistently rank among the top offices companywide.
“I am excited to bring all of our resources as a highly specialized national firm to owners and investors, and help them navigate the market successfully,” says Pontius. “We have great momentum in leased investment sales and have become a leading source of market research and I look forward to building on that track record,” he continues.
Pontius replaces long-time partner Bernard J. Haddigan (lower left photo), a former senior vice president and managing director, who retired from the firm.
Contact: Stacey Corso, Public Relations Manager, 925) 953-1716