Tuesday, August 9, 2011

Atlantic | Pacific Companies Announce New Property Management and Receivership Assignment for Star Tower in Downtown Orlando, FL


MIAMI, FL (Aug. 9, 2011) – On August 1, 2011, Atlantic | Pacific Management (A|P Management), the property management and leasing subsidiary under Atlantic | Pacific Companies (A|P), became the new property management company for Star Tower (top left photo)in Downtown Orlando, Florida.

 Under the new agreement, A | P Management will be providing a full slate of property management, management of the condominium association and full complement of accounting services.

 In June, 2011, A|P’s COO, Randy Weisburd (middle right photo), was appointed Receiver for Star Tower as well. Under Mr. Weisburd’s direction, Atlantic | Pacific Advisory Services (A|P Advisory Services), A|P's real estate advisory & asset management platform, is overseeing the management of the project, including its 48 unsold residential units and one commercial unit. 

Star Tower is Downtown Orlando’s first boutique style high-rise condominium, located in the South Eola District, which is considered one of the city’s most desirable and trendy neighborhoods. The condominium includes a rooftop pool, a spacious fitness center, and a central community room. The 19-story project was built in 2007 on .60 acres and has a total of 101 units.

 In response to A|P’s increased presence in Orlando with the management assignments of Paramount at Lake Eola and Star Tower, Randy Weisburd, Chief Operating Officer of A|P states “A|P continues to increase its residential portfolio in Central Florida over the first six months of 2011, and A|P has grown its commercial property management platform by over one million square feet in Florida and the Southeast.

“Our success in the first half of the year is a testament to our growing reputation as a company that delivers quality service in an array of platforms.”

 For more information, please contact Randy Weisburd at rweisburd@apmanagement.net.


Record Sales for Red Ledges Near Park City, Utah



HEBER VALLEY, Utah--(BUSINESS WIRE)--Red Ledges (www.redledges.com), a premier recreational mountain golf community just minutes from Park City, today announced a record-setting sales month in July with 22 real estate sales, leading to a total of 34 sales so far in 2011.

“We are seeing that buyers interested in recreational communities really do take to heart both value and the developer’s commitment to building amenities, programs and infrastructure,” said Mitchel Burns (middle right photo), Red Ledges chief operating officer.

“We are committed to providing an unmatched lifestyle experience to our owners, and I have no doubt that the terrific sales we saw in July were influenced by the additions of the Swim and Fitness Club, the Cliff Drysdale Tennis School and new home ownership price points.”

The real estate economy in the Park City and Heber Valley areas has not only experienced significant improvement, but is also receiving national attention as a top area for luxury real estate.

 According to the Park City Board of Realtors’ 2nd Quarter Report Summary, single family homes sales are up 24 percent and inventory is down 35 percent compared to last year. The Wall Street Journal and Barron’s recently announced its top second home markets with Park City ranking in the No. 3 spot.

“Of all the major real estate projects in the area that have launched in the last five years, Red Ledges is one of the few developments that still has its original ownership team and is continuing to expand infrastructure and amenities,” continued Burns. “We are determined to keep our word to buyers and instill confidence that our community will be around for years to come.”

 For more information, visit www.redledges.com.

Contacts
For Red Ledges
Anne Williams
801-481-9482 (office)
801-458-3837 (cell)


Winston-James Development Reports New Lease at Aloma Business Center



WINTER PARK, FL --- Winston-James Development LLC, based in South Daytona, recently leased 938 square feet of office space at the Aloma Business Center in Winter Park to Applied Behavior Center for Autism.

Winston Schwartz (top right photo), president of Winston-James Development, said the new tenant operates two full time therapy centers for children with autism.

For more information, contact:
Winston Schwartz, President, Winston-James Development, Inc 933 Beville Rd., South Daytona, Fla. 32119; 386-760-2555;
Larry Vershel, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

Stan Johnson Co. Completes Sale of BuySeasons Inc. Property in New Berlin, WI for $30 Million

                  
  

NEW BERLIN, WI, AUG. 9, 2011 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of the BUYSEASONS, Inc. building (top left photo), a 359,625-square-foot office building located on 27 acres at 5915 South Moorland Road in New Berlin, Wisconsin to affiliates of Angelo, Gordon & Co. for $30,008,000.

Brett Butler (lower right photo), Associate Director at the Stan Johnson Company represented the seller, an Office and Industrial developer from Milwaukee, Wisconsin.

 The BUYSEASONS, Inc. building is well situated in a location just south of I-43/ Rock Freeway near Westridge Business Park, a successful mixed use development in Waukesha County, and the New Berlin Industrial Park.

Founded in 1999 as an Internet specialty retailer, BUYSEASONS, Inc. has become the largest online retailer and supplier of costumes, accessories, seasonal d├ęcor, and party supplies in the world. 

BUYSEASONS, Inc. owns and operates  BuyCostumes.com, the leading online-only retailer  of costumes, as well as the Celebrate Express family of websites; BirthdayExpress.com, 1stWishes.com, and CostumeExpress.com

Contact: David Ebeling, Ebeling Communications, (949) 278-7851



The Marketing Directors Named Sales & Marketing Firm for Johns Creek Walk Townhomes in Georgia

  

ATLANTA, GA– The Marketing Directors have been named the sales and marketing team to sell the remaining townhomes at Johns Creek Walk (top left photo) located at Bell Road and Abbotts Bridge in Johns Creek, Ga. 

The Marketing Directors expects a sell out in six months.  According to Allison Beldick, director of business development/sales for The Marketing Directors, the owners, Wells Fargo, could have chosen to sell the homes in a “bulk sale” but chose to hire The Marketing Directors instead. 

“A quality, beautifully designed product should not be liquidated, but sold in a way that is a win-win transaction for both the consumer and the bank and that’s what is being done at Johns Creek Walk,” says Beldick.

The sales and marketing efforts for Johns Creek Walk will be spearheaded by veteran Atlanta real estate professionals David Tufts (middle right photo) and Betty Harbourt.  The onsite sales team will be directed by veteran Atlanta realtor Art Hicks, now with The Marketing Directors.

The Johns Creek Walk townhomes feature value pricing with three bedrooms starting from $259,900 and four bedrooms from $359,900.  The homes feature spacious floor plans, garages, charming architectural features and some are located adjacent to the Standard Club’s golf course.

For more information, visit www.themarketingdirectorsinc.com or follow us on Facebook.

Contact:
Liz Lapidus /Traci Buch
Liz Lapidus PR
404.688.1466

Chatham Lodging Trust Delivers Strong Second Quarter Results



PALM BEACH, FL, Aug. 9, 2011--(BUSINESS WIRE)-- Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale extended-stay hotels and premium-branded select-service hotels, today announced results for the second quarter ended June 30, 2011.

2011 Second Quarter Highlights and Operating Results

 Reported a 3.3 percent increase in revenue per available room (RevPAR) to $96.49 for the second quarter, in line with the company’s previously announced RevPAR guidance on June 29, 2011.

RevPAR was negatively impacted by the completion of renovations during the quarter. Occupancy was up 2.6 percent to 83.2 percent and average daily rate (ADR) was up 0.7 percent, to $115.97.

[1] Pro forma disclosures include the results for 18 hotels consisting of the 13 hotels owned at June 30, 2011 plus the five hotels acquired on July 14, 2011.

“We had strong operating performance in the second quarter, delivering solid operating results and completing renovations on 40 percent of our portfolio on time and under budget,” said Jeffrey H. Fisher (top right photo), Chatham’s chief executive officer and president.

  “We already are starting to see these investments pay off with accelerating RevPAR growth after the renovations. In the locations where we have completed
renovations during 2011, market RevPAR is up approximately 10 percent for the year.

“As a result, extended stay occupancy is returning to more normalized levels in our renovated hotels. Our ability to leverage those occupancy levels to drive rate and operating profits is greatly enhanced.”

For a complete copy of the company’s news release and financials, please contact:

Dennis Craven, Chief Financial Officer
561-227-1386
or
Daly Gray (Media)
Jerry Daly or Carol McCune
703-435-6293

Equity Partners Brokers Sale of University Science Center in Orlando, FL




ORLANDO, FL – Equity Partners Inc., a full service brokerage and development company, announces the sale of University Science Center (top left photo) (USC), a 55,074 SF Class A single story multitenant office building in the Research Park/University submarket of Orlando.

 The property was the first of eight office buildings developed in Central Florida by Equity Partners and was 70% leased at the time of sale. 

Michael Fess (middle right photo), president of Equity Partners, said his company still owns 4 office buildings (150,000 SF) in the submarket and will continue to lease USC for the new owner.  USC was developed in 1999.

Fess and Faith Thompson (lower left photo) of Equity Partners represented the seller. 

George Livingston, Christie Alexander, and Drew Saphos of NAI Realvest represented the buyer, Real Estate Inverlad, LLC. 

 Rick Asta and Richard Hostetter of CommerCenters LLC also played an important role in the sale by initially contracting for the building.

Contact: Faith Thompson, Leasing Manager, Equity Partners, Inc., Licensed Real Estate Broker, 20 North Orange Avenue, Suite 605, Orlando, Florida 32801. 407.660.4949 phone
407.808.2656 cell
407.660.4995 fax