Friday, July 30, 2010

Heitman Announces New SVP Client Service & Marketing, US

Chicago, IL  -- Heitman LLC, a multi-national real estate investment management firm, today announced William “Alan” Purser has joined the firm as senior vice president responsible for institutional client service and marketing. Mr. Purser will be based in Heitman’s Atlanta, Ga. office.

Mr. Purser has 14 years experience in business strategy, institutional sales and marketing and prior to joining Heitman, managed client relationships and fundraising for RREEF/Deutsche Bank and earlier for Buchanan Street Partners.

Mr. Purser began his real estate career at Prudential CRES in San Francisco. In his new capacity Mr. Purser will develop and maintain relationships with Heitman’s institutional investor clients in both public and private real estate strategies across the United States.

Mr. Purser attended both North Carolina State University and the University of California at Berkeley where he pursued a bachelor of business administration and marketing degree. He is a member of PREA, NAIOP, ULI and ICSC and holds his Series 7 and 63 FINRA licensing.

“Alan’s extensive experience and particularly, his ability to build strong, collaborative relationships are attributes we value at Heitman and Alan will play an integral role as we broaden our institutional client base throughout the US,” commented Maury Tognarelli, (top right photo) Chief Executive Officer of Heitman.

Heitman, founded in 1966 and headquartered in Chicago, manages over $22 billion in assets invested directly and indirectly in real estate in North America, Europe and Asia. The firm's clients include US and international institutions, pension plans, endowments and foundations, and individual investors.

John White Appointed Lead Portfolio Manager for Asia-Pacific

Chicago, IL  -- Heitman LLC, a multi-national real estate investment management firm, today announced the appointment of John White (lower left photo)  as lead portfolio manager for its real estate securities business in the Asia-Pacific region. Mr. White’s addition rounds out the firm’s strategy to manage a comprehensive global real estate securities business.

Mr. White will lead a team of investment professionals for Heitman in Melbourne, working collaboratively with Chicago-based Tim Pire, who leads Heitman’s North American portfolio management team and London-based Mark Abramson, Heitman’s lead portfolio manager in Europe.

“John has worked alongside our portfolio management teams over the last several years as part of an alliance. This experience as well as his like-minded cultural and professional values makes this appointment virtually seamless to both our clients and the firm,” commented Maury Tognarelli, Chief Executive Officer of Heitman.

Contact:  Margot Olcay, Avenue of the Americas, New York, NY 10105
Tel: 212 843 8284 / Fax: 212 843 9200

$31.5M Hospitality Portfolio comes to Market in Las Vegas

LAS VEGAS, NV – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has secured the exclusive listing for two prime hospitality properties in Las Vegas.

The properties, which are currently called Emerald Suites (top left photo), encompass nearly 10 acres and are listed at $31.5 million.

Al Barbagallo, (middle right photo)  associate vice president investments, is listing this two-property hospitality portfolio on behalf of Emerald Suites, LLC.

“These properties are near one of the premier hotel casino corridors in the world and are easily accessible by the Interstate 15 freeway system,” says Barbagallo.

 “Priced below replacement cost, this value-added portfolio will generate significant long-term returns for any investor. This listing presents the new ownership with an excellent opportunity to flag this portfolio.”

The 387-room Emerald Suites at 9145 Las Vegas Blvd. South was built in 2001. High traffic counts along the world-famous Las Vegas Strip provide this 7.75-acre asset with maximum exposure. The property is listed at $25 million, or $64,599 per room.

(Las Vegas Strip at night, bottom left photo)

Built 2000, the 96-key Emerald Suites on Cameron at 4777 Cameron St. is a 2.3-acre property. The property includes four, three-story buildings with 96 units.

 Some units have been updated and include flat-screen TVs. Hotel amenities include a laundry room and pool spa area.

Emerald Suites on Cameron is available for $6.5 million with a current ADR (average daily rate) of $45 a night.

The properties can be purchased separately or as a portfolio.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

Grubb & Ellis Commercial Florida Names Patrick Kelly Executive Vice President, Managing Director

TAMPA, Fla. --- Grubb & Ellis Commercial Florida, associated with 130 offices worldwide, has appointed Patrick Kelly (top right photo) executive vice president and managing director in the firm’s Tampa office.

Jeff Sweeney, SIOR, president of Grubb & Ellis
Commercial Florida, said Kelly is a sixth-generation Floridian who earned his B.A. Degree in Hospitality Management from Florida State University and has more than 30 years of experience in commercial real estate.

Kelly is the former president of Rubin Real Estate in Pinellas County. He was also the Florida and regional partner of Vantage Companies (VRS) – a national development and realty services company – for 18 years before selling his interest in 2000.

Sweeney said Kelly’s responsibilities will include supervision of distressed assets, recruitment, business development and productivity in the firm’s Tampa office.

“Patrick Kelly is one of the most experienced commercial real estate veterans in Florida and we expect him to play an important role in our growth,” said Sweeney.

Patrick Kelly, Managing Director 813-639-111
Jeffrey Sweeney, SIOR President 407-481-5387
Larry Vershel Communications 407-644-4142