Friday, June 3, 2011

Steve Algermissen Joins Colliers International in Downtown Los Angeles Office


LOS ANGELES, CA, June 3, 2011 – Colliers International, the second largest global real estate services organization, welcomesSteve Algermissen (top right photo) to its Downtown Los Angeles office. He will serve as Executive Vice President.

After earning his B.A. from Claremont Men’s College, Algermissen went on to develop more than 28 years of experience specializing in the sale and joint venture of retail, office and ground up development in the Southern California commercial real estate market. 

“Steve is a strategic recruit to our DTLA office,” said Hans Mumper (middle left photo), managing director of Colliers International’s DTLA office. “His diverse and extensive background includes high profile properties to environmentally challenged developments. There couldn’t be a better fit for Colliers and we look forward to building a long and successful partnership.”

 Previously with Cushman & Wakefield as an Executive Managing Director since 1991 in its Downtown Los Angeles office and prior to that as a Vice President for CB Commercial Real Estate Services in its West Los Angeles office, Algermissen has closed in excess $5.6 billion and 24 million square feet in transactions. 

 Some of Algermissen’s most notable transactions include the Dior, Bally, Tom Ford and Gucci Buildings in Beverly Hills, the William Morris Portfolio in Beverly Hills, the Shops at the Fordham, the Lincoln Park Apple Store in Chicago, the Oaks Mall, and the Esplanade Shopping Center in Ventura County.

“This is another great hire for us and shows the momentum within Colliers,” states Martin Pupil (lower right photo), regional managing director of Colliers International.

“Steve’s strategic approach to the business and his overall commitment to providing sound solutions to his clients are the attributes that make him so successful and the right addition for Colliers.”

Contact: Angela Hwang, Regional Marketing Coordinator, +1 213 532 3258

HFF secures acquisition financing for Hidden Creek Apartments in Lewisville,TX

DALLAS, TX – HFF announced today that it has secured acquisition financing for Hidden Creek Apartments (top left photo), a 362-unit, Class A multi-housing community in Lewisville, Texas.

Working on behalf of Praedium Group and Mike Ochstein, president of Price Realty Corporation, HFF placed the five-year, fixed-rate securitized loan with Freddie Mac (Federal Home Loan Mortgage Corporation).  Loan proceeds were used to acquire the property.  The loan will be serviced thr

ough HFF’s Freddie Mac Program Plus® Seller/Servicer program.

Hidden Creek is located at 1200 College Parkway close to Xerox Corporation, Vista Ridge Mall, Lake Lewisville and Vista Ridge Business Park in Lewisville, a northern suburb of Dallas/Fort Worth.  

Completed in 2000, the property has 14 three-story buildings with units averaging 939 square feet each.  Community amenities include a resort-style pool, outdoor heated spa, sports courts, sand volleyball court, fitness center and business resource center.  Hidden Creek is currently 97 percent occupied. 

The HFF team representing Praedium Group and Price Realty Corporation was led by senior managing director John Brownlee (top right photo) and managing director Brian Carlton (bottom left photo).

The Praedium Group is a real estate investor focusing on under-performing and under-valued assets throughout North America, with over $7 billion in total investments to date in more than 275 transactions comprised of 45 million square feet of commercial space and 55,000 multifamily units.

Price Realty Corporation was founded in 1991 and currently owns and manages more than 5,200 units in the Dallas/Fort Worth area.

John S. Brownlee, HFF Senior Managing Director, (214) 265-0880
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500

Central Florida Real Estate Panel Set for June 23 at Citrus Club in Downtown Orlando

ORLANDO, FL---Patrick Chisholm with Maury L. Carter & Associates, Inc. is participating in a Commercial Real Estate Panel on June 23, 2011 at the Citrus Club in Downtown Orlando.

.  Please review the information below and consider registering to attend.

 TMA Florida Presents

(Turnaround Management Association)

  On June 23, 2011, TMA Florida is hosting a special panel of Central Florida Real Estate experts for a discussion on the current conditions of and the future projections regarding commercial real estate. 

The panel will be moderated by Frank M. Mock, Esq. of Lowndes Drosdick Doster Kantor & Reed, PA and panelist will include:

Jay Ballard (top right photo) Senior Director, Apartment Brokerage Services at Cushman & Wakefield, Inc.
Patrick Chisholm, Vice President at Maury L. Carter & Associates, Inc.
John Crossman, President, Crossman & Company, retail leasing, management & development
David Murphy (lower right photo), Senior VP Industrial Properties, CB Richard Ellis
George Livingston (middle left photo), Chairman Emeritus of NAI Realvest

Orlando Luncheon - Commercial Real Estate Panel
Thursday, June 23, 2011
12:00 pm - 2:00 pm EST
Citrus Club, Orlando, FL

To register, visit:
  Please use this link to register.  Thank you.

Lodging Econometrics Releases Its Spring 2011 US Transaction Trends Report

PORTSMOUTH, NH, June 3, 2011---For the sixth consecutive quarter, year-over-year (YoY) selling prices have accelerated. There were 110 transactions across all chain scales that reported a selling price in Q1 2011.

The overall average selling price was at a record high of $125,946 per room. This is a 30% YoY increase from Q1 2010's $97,084 per room and a 14% increase over the 2010 year-end total of $110,827.

47% of the 110 transactions were in the top 25 markets, the highest percentage LE has ever recorded. 37% were in Upscale and higher chain scales. 21 hotels greater than 200 rooms, or 19% of the total, sold at a cyclical high average of $181,680 per room.

For a complete copy of the company’s news release and US Spring 2011 Transactions Trends Report, please contact:

Jennifer Robertson
Marketing Manager
Lodging Econometrics
500 Market Street, Suite 13
Portsmouth, NH  03801, USA
Ph:    +1 603-431-8740 ext. 19
Fax:   +1 603-431-4418

 Lodging Econometrics 1065914
500 Market Street, Suite 13
Portsmouth New Hampshire 03801
United States