Wednesday, November 30, 2011
NEW YORK, NY – HFF announced today that it has closed the sale of Arias Park Slope (top centered photo), a 95-unit, Class A multi-housing community with 6,121 square feet of ground floor retail in Brooklyn’s Park Slope neighborhood.
HFF marketed the property on behalf of the seller, The Iconic Group. Invesco Real Estate, on behalf of an institutional client, purchased Arias Park Slope for an undisclosed amount free and clear of existing debt.
Completed in 2011, Arias Park Slope is a 12-story building with studio, one- and two-bedroom units averaging 764 square feet each. Community amenities include a 24-hour attended lobby, health club, yoga room, laundry facility, pet spa, bike storage, lounge with kitchen and bar, billiards, plasma tv and fireplace, and a courtyard with a putting green.
The property also features “Arias Club 360” , which has 360 degree views of Brooklyn and Manhattan, private cabanas, sunbeds, a fire pit with seating, outdoor shower, grill, bar and dining area.
Arias Park Slope is located at 150 4th Avenue close to Prospect Park and the D, M, N, and R trains at Pacific Street, the 2, 3, 4, 5, B and Q trains at Atlantic Avenue and the F train at Fourth Avenue/9th Street.
The HFF investment sales team representing the seller was led by senior managing directors Andrew Scandalios (top right photo) and Jose Cruz (middle left photo) and directors Kevin O’Hearn (bottom right photo) and Jeffrey Julien.
“Arias Park Slope is the only building of its caliber in the neighborhood and has been well received by the market; achieving a stabilized occupancy within months of completion,” said Scandalios.
ANDREW G. SCANDALIOS JOSE R. CRUZ
HFF Senior Managing Director HFF Senior Managing Director
(212) 245-2425 (973) 549-2000
Kristen M. Murphy, Associate Director Marketing, (713) 852-3500, firstname.lastname@example.org
HFF closes $48.6 million sale of the ground lease interest in Fort Lauderdale’s Harbor Beach Marriott Resort & Spa
MIAMI, FL – HFF announced today that it has closed the sale of the ground lease interest in a 16.5-acre oceanfront site improved with the Harbor Beach Marriott Resort & Spa (top left aerial photo), a 15-story, 650-room hotel on Fort Lauderdale Beach in Fort Lauderdale, Florida.
A joint venture that includes an affiliate of Host Hotels and Resorts is the tenant on the leased fee interest, which has more than 93 years of term remaining.
HFF marketed the property on behalf of Northwestern Mutual. A private buyer purchased the leased fee interest in the property for $48.6 million.
The Harbor Beach Marriott Resort & Spa is located at 3030 Holiday Drive at the southern end of Fort Lauderdale Beach. Hotel amenities include direct beach access, three restaurants, a 22,000-square-foot spa and 100,000 square feet of function space.
The HFF investment sales team included executive managing director Manny de Zárraga, senior managing director Dan Peek (middle right photo) and directors Max Comess and Luis Castillo (lower left photo).
“The Harbor Beach Marriott ground lease represented a generational opportunity to acquire irreplaceable oceanfront real estate with long-term cash flow, backed by one of the premiere hotel investment firms at a substantial discount to the underlying land value,” said Peek.
Find more information about Northwestern Mutual’s real estate investing at www.northwesternmutualrealestate.com.
MANUEL A. DE ZÁRRAGA DANIEL C. PEEK
HFF Executive Managing Director HFF Senior Managing Director
(305) 448-1333 (813) 870-1001
Kristen M. Murphy, Associate Director Marketing, (713) 852-3500, email@example.com
Ping GOLF, Celebration Golf Management Provide New Golf Clubs AND Golf Clinics to War-Injured Veterans
ORLANDO, FL. --- PING Golf and Celebration Golf Management, Inc. recently pooled resources to help two war-injured veterans in the Fairways for Warriors program, a nationwide initiative that helps injured soldiers cope with their handicaps by teaching them to play golf.
PING presented full sets of PING golf clubs, and Celebration Golf is providing a series of 10 golf clinics for both veterans.
Gene Garrote, president of Celebration Golf Management (CGM) said both soldiers were severely injured in Iraq.
“Jorge Zapata was a Marine combat engineer who neutralized more than 80 IEDs before he was injured,” Garrote said.
“B.J. Jackson lost both legs below his knees when a Humvee he was driving was hit buy a rocket-propelled grenade. He had to be extracted from the burning vehicle,” Garrote explained.
Kenny Nairn, Scottish PGA Golf Professional and Executive Vice President of Golf at Celebration Golf Management, said the series of golf clinics for soldiers started recently at all six CGM clubs in Florida.
For media information, contact:
Kenny Nairn, Celebration Golf Club 407-566 4653 ext 4604
Michael J. Neumann, Social Media Supervisor, Celebration Golf Management 407-566 1045 x4621; firstname.lastname@example.org
Gene Garrote, President, Celebration Golf Management, 407-566-1045
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 email@example.com
Celebration Golf Management Leases Operations of Stonegate Golf Club at Solivita in Poinciana
ORLANDO, FL--- Celebration Golf Management, LLC (CGM) which currently owns or manages six golf clubs in the Central Florida area, has added a seventh to its crown: Stonegate Golf Club at Solivita (lower right photo), the massive active adult community Avatar is developing in Poinciana.
Gene Garrote, president of Celebration Golf Management, said Stonegate Golf Club, which features two 18-hole championship golf courses that rank among the area’s best, recently entered into a lease agreement with CGM to run the golf and food and beverage operations of its semi private club.
“The 7,000 yard Oak golf course designed by Ron Garl is bordered by hundred-year-old oak hammocks, streams and lakes within a 4,300 acre nature preserve,” Garrote said.
The Cypress golf course, originally designed by Joe Lee and recently modified by golf course architect George Clifton, spans 6,000 yards from the back tees with abundant water features, lakes and white sand bunkers.
Celebration Golf Management, LLC, which opened in 2004, now owns or manages Celebration Golf Club in Celebration, Kings Ridge Golf Club and Legends Golf Club in Clermont, The Golden Bear Club at Keene’s Pointe in Windermere, Stoneybrook West Golf Club in Winter Garden, and Eagle Creek Golf Club in East Orlando, as well as Crockett Ridge Golf Club in Kingsport, Tenn., and the International Club in Myrtle Beach.
For more information about this press release, contact
Gene Garrote, President, Celebration Golf Management, LLC 407-566-1045 firstname.lastname@example.org
Michael J. Neumann, Social Media Supervisor, Celebration Golf Management, LLC 407-566 1045 x4621; email@example.com
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142.
Central Florida Golf Trips surprises first guests with champagne toast and Gift Basket at Stoneybrook West in Orlando, FL
ORLANDO, FL--- Central Florida Golf Trips, a startup company that books golf and resort accommodations at Central Florida golf courses, recently surprised its first guests with a champagne toast and gifts that included a PING G20 driver and fitting.
Michael J. Neumann, social media supervisor for Celebration Golf Management, Inc. made the presentation to Carl Powell and his good friend Bob Lord from the U.K.
“Carl and Bob were tapping in their putts on the 18th green at Stoneybrook West Golf Club when Stoneybrook West General Manager Mark Bearss asked them to meet their Golf Trip Manager Barbara Bearss, in the all new event pergola at the club,” Neumann said.
Neumann then presented the gifts to Lord which included golf shoes, golf balls, and an autographed PING hat from 2011 President's Cup Team Member Bubba Watson.
Powell, who booked the trip, received a gift certificate for a brand new PING G20 driver along with a custom fitting in the Ping nFlight Fitting and Teaching Studio at Celebration Golf Club.
For more information, contact:
Michael J. Neumann, Social Media Supervisor, Celebration Golf Management 407-566 1045 x4621; firstname.lastname@example.org
Mark Bearss, General Manager, Stoneybrook West, 407-797-8533 m
Gene Garrote, President, Celebration Golf Management, 407-566-1045;
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142
FT. LAUDERDALE, FL /PRNewswire/ -- The Algon Group, one of the country's leading boutique financial advisory and restructuring firms and REH Capital Partners, one of the leading real estate and hospitality consulting firms announced a formal strategic alliance.
The combination of REH's industry expertise in real estate and hospitality (hotels, timeshare, resorts and various mixed use projects) and Algon's expertise and track record in handling large complex restructurings makes the team a very unique resource for hospitality industry stakeholders.
The Algon Group, founded in 2002, is a "deal oriented" firm providing distressed M&A/advisory services and has substantial restructuring experience both "out of court" and in bankruptcy. Algon's senior team has also served as interim CEO, CFO or CRO when requested by clients or their legal advisors to do so. Some of the firm's most notable recent assignments have included the Related Group ($2.1 billion), Core Communities ($375 million) and Cabi Downtown Development ($256 million).
REH is led by Frank Nardozza (top right photo), a former partner and National Real Estate and Hospitality Consulting Practice Leader at KPMG. Frank, a 35 year hospitality veteran, has advised on over $15 billion in real estate and hotel related transactions and has been involved in various roles in some of the industry's highest profile bankruptcies, restructurings and litigation situations.
Troy Taylor (lower left photo), founder and President of the Algon Group said, "We believe that the combination of REH's industry knowledge and contacts and our 'outcome oriented' approach to restructuring assignments makes the team a top resource for distressed hospitality industry stakeholders."
For more information on both companies, please, visit www.rehcp.com and . www.algongroup.com
:Ms. Niki Borrelli, Administrative Manager, REH Capital Partners, LLC, +1-954-712-7462, Fax: +1-954-332-2361 ,email@example.com,
Ms. Karen Burns, Managing Director, The Algon Group, +1-727-347-9077, Fax: +1-866-413-2462, firstname.lastname@example.org
Web Site: http://www.algongroup.com/
DAVIS, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Brush Creek Apartments (top left photo), an 80-unit multifamily property located in Davis. The asset commanded a sales price of $8.2 million.
Sunny Gill (lower right photo), a senior associate in Marcus & Millichap’s Sacramento office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was secured and also represented by Gill.
Brush Creek Apartments is located at 1333 Arlington Blvd. in West Davis, approximately one mile from the University of California, Davis campus. Built in 1981, the property includes 36 one-bedroom/one bathroom units, 36 two-bedroom/one bathroom units and eight three-bedroom/two bathroom units.
“Brush Creek Apartments is positioned for both short- and long-term growth because of the area’s strong demographics and its proximity to UC Davis and key employers,” explains Gill. “The barriers to entry in the Davis market were a key component in the buyer’s pursuit of the asset.”
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
SAN DIEGO, CA – Alvin Mansour (top right photo) of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has negotiated the sale of 13 single-tenant property transactions in locations across the country during the third quarter.
In all, Mansour represented various entities in the disposition of approximately $46.7 million in investment real estate.
“A large majority of Class A inventory in primary markets has already been acquired by investors since the Great Recession ended,” says Mansour. “As a result of limited inventory, investors are now targeting second-tier markets, which will support deal flow heading into 2012.
“The combined influence of low interest rates and a steady stream of investors cycling capital back into net-leased properties have steadily compressed cap rates since mid-year 2010,” he says.
“A greater number of foreign investors and foreign-based funds – in addition to domestic buyers – are fleeing to the safety of investment real estate as the European debt crisis continues to unfold,” Mansour adds. “In addition, ongoing instability in the stock market has prompted more investors to seek hard, tangible assets with stabilized returns, which commercial real estate continues to offer.”
Among Mansour’s largest sales in the third quarter were three Walgreens net-leased drugstores, all of which closed in separate transactions:
- In Naperville, Ill., he arranged the $7,050,000 sale of a Walgreens;
- In Edinburg, Texas, he arranged the $6,906,475 sale of a Walgreens ;
- In Leitchfield, Ky., he arranged the $4,830,000 sale of a Walgreens.
In a separate prominent transaction, Mansour arranged the sale of a 75,378-square foot FedEx Ground facility, for $6,395,000 in Evansville, IN. The buyer, also represented by Mansour, was an all-cash buyer from California. Additional property sales closed by Mansour included banks, medical office buildings, restaurants and other drugstores.
Providing additional representation on these transactions were Phil Sambazis (top left photo), a vice president investments in the San Diego office; Brent Yurtkuran (middle right photo), a senior associate in the Jackson, Miss., office; and Larry Hausman (lower left photo), a senior associate in the Louisville, Ky., office.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
Voit’s Sacramento Team Completes 51 Office Transactions Encompassing 296,103 SF in Greater Sacramento, CA
Voit’s team has completed 20 office sales this year, totaling 186,000 square feet, while also completing 31 office lease transactions to date, totaling 110,103 square feet of office space.
“While the office market has been a bit slower to rebound than other property types, 2011 has been a year of growth for this sector of the market and we’re now seeing some positive indicators of future stabilization,” said Robb Osborne, Senior Vice President in Voit’s Sacramento office. “In Q3 Sacramento saw positive net absorption in its office market for the first time since 2009 - a sign that confidence is increasing and office tenants and landlords are ready to make deals.”
Of the sales Voit completed this year, 19 of the 20 transactions were under 20,000 square feet, while one sale totaled 100,000 square feet.
The Sacramento Voit Real Estate Services Corporate Office Group is led by Senior Vice President Robb Osborne and also includes: Cole Sweatt (top left photo), Assistant Vice President; Rob Mora (middle right photo), Industrial Expert and Business Development Specialist; and Sarah Sanders (lower left photo), Marketing Assistant.
Some of the Voit team’s recent and most notable transactions include:
Robb Osborne and Cole Sweatt of Voit Real Estate Services’ Sacramento office represented the seller in the disposition of an 11,747 square-foot office property located at 2267 Lava Ridge Ct. in Roseville, Calif.
Transaction # 2
Robb Osborne of Voit Real Estate Services’ Sacramento office represented the seller in a 5,097 square-foot office sale located at 990 Reserve Drive in Roseville, Calif.
Transaction # 3
ORLANDO, FL -- National Retail Properties, Inc. (NYSE: NNN) (the “Company”) announced that it has commenced an underwritten public offering of 6,000,000 shares of common stock. As part of the offering, the Company also expects to grant the underwriters a 30‐day option to purchase up to 900,000 additional shares of common stock.
Wells Fargo Securities, BofA Merrill Lynch and Citigroup will act as joint book‐running managers for the offering. RBC Capital Markets and Raymond James will act as senior co‐managers for the offering.
Also, Morgan Keegan, Stifel Nicolaus Weisel and UBS Investment Bank will act as co‐managers for the offering. The Company intends to use the net proceeds from the offering to repay borrowings under its credit facility, for general corporate purposes and to fund future property
For information, contact:
Kevin B. Habicht
Chief Financial Officer
ORANGE COUNTY, CA. – Colliers International, the third largest global real estate services organization, has completed a 64 unit apartment sale located at 19822 Brookhurst St., Huntington Beach, Calif. The transaction is valued at $12.730 million.
Pat Swanson (top right photo), Vice President, based in Colliers International’s Irvine office, represented both the Buyer, MHE Properties, and the Seller, The Von Gremp Family.
This apartment complex was completely renovated in 2004 and boasts 100% occupancy with low rents in place.
“The property was sold as an off market transaction with an exchange Buyer. The Buyer liked the over quality of the building, its location, and the potential to raise rents,” stated Swanson.
Angela S. Hwang
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SANYA, CHINA (Nov. 30, 2011) – St. Regis Hotels & Resorts is pleased to announce the grand opening of The St. Regis Sanya Yalong Bay Resort (top centered photo), the eagerly anticipated crown jewel along Yalong Bay, China’s premiere resort destination on Hainan island (middle left photo).
As South China’s first St. Regis Resort, The St. Regis Sanya Yalong Bay Resort will define a new standard of exceptional luxury, contemporary sophistication and bespoke services for visitors to Hainan.
“We are thrilled to unveil South China’s first St. Regis resort – a standout gem along the Yalong Bay coast,” said Sunny Heng (top right photo), General Manager of The St. Regis Sanya Yalong Bay Resort. “The St. Regis Sanya Yalong Bay is an exclusive tropical sanctuary with an unrivaled combination of amenities and service, including our famous St. Regis Butler service.”
Located on one of the most coveted and beautiful stretches of coastline on Yalong Bay, The St. Regis Sanya Yalong Bay Resort offers 373 exquisitely designed guest rooms and suites, and 28 oversized and sumptuously appointed beachside villas.
The resort’s contemporary architecture is inspired by the concept of two intertwined dragons, reflected as undulating waves which are incorporated in all of the resort’s structural elements.
The St. Regis offers three signature epicurean experiences and a sophisticated lounge which are certain to become island destinations of their own. In addition, The St. Regis Sanya Yalong Bay Resort is introducing the South China region’s first Iridium Spa, a lavish five-star sanctuary of wellbeing.
“Hainan’s Yalong Bay is the tropical playground for China’s elite travelers,” said Qian Jin (lower right photo) Senior Vice President of Operations, Greater China, Starwood Hotels & Resorts.
“The introduction of the St. Regis brand to Hainan offers a new level of sophistication and amenities and redefines Yalong Bay as a destination resort for discerning international travelers who are seeking new experiences with the confidence of the highest levels of service and luxury.”
Located at the southernmost tip of China, the island of Hainan is often compared to Hawaii because of its tropical climate and beautiful beaches.
To make a reservation or for more information, visit the St. Regis Sanya Yalong Bay Resort online.
For more information on St. Regis Hotels & Resorts, please visit www.stregis.com, and for the privilege of residential ownership, please visit http://www.stregisresidences.com/.
For more information on Starwood, please visit http://www.starwoodhotels.com/.
Hwee Peng Yeo
Director of Asian Markets
Glodow Nead Communications
Level 21, Centennial Tower
3 Temasek Avenue
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WINCHESTER, VA, Nov. 30, 2011—Officials of Marshall Hotels & Resorts, Inc., a leading, Maryland-based hotel management and services company, today announced the George Washington (top left photo), A Wyndham Grand Hotel in Winchester, Va., continues its award-winning ways with top rankings in three different categories: guest satisfaction, RevPAR performance and a TripAdvisor award for positive guest comments.
The property has been managed by Marshall Hotels & Resorts since 2009.
The hotel has been the top-rated hotel in the Wyndham system in guest satisfaction for the past three months in a row and currently leads the approximate 90-hotel brand by a meaningful margin with just two months remaining in the year.
The hotel also has received the Wyndham Presidents RevPAR Performance Award for the second consecutive year for achieving more than 100 percent market share. RevPAR, revenue per available room, is a key indicator of how well a hotel competes. The property recently was awarded TripAdvisor’s Certifcate of Excellence, which is based on actual guest comments and ratings.
“General Manager David Cavallaro (lower left photo) and his team have done a remarkable job since taking over management of the hotel in March of 2009,” said Mike Marshall (top right photo), president and CEO, Marshall Hotels & Resorts, Inc.
“It is one thing to turn a hotel into a top performer, it is quite another to sustain that leadership in the highly competitive hotel market, especially in the difficult economy of the past several years. David and his team are deserving recipients of these honors, and we are confident of their future success.”
The George Washington, A Wyndham Grand Hotel, is a full-service hotel located in the Shenandoah Valley at 103 East Piccadilly Street in Winchester, Va.
Built in 1924, the 90-room, Georgian Revival-style hotel was fully restored in 2008 and offers nearly 7,400 square feet of flexible meeting and event space capable of accommodating up to 300 people, including a grand ballroom; complimentary high-speed Internet; two onsite dining options, The Dancing Goat Restaurant and The Half Note Lounge; and a Roman-style swimming pool. In addition the hotel will open an intimate health spa called Saumaj Health Spa in January 2012.
“We are fortunate to have a great historic building with the lure of one of the nicest ballrooms in the Shenandoah Valley,” Cavallaro said. “The hotel has become the favorite choice for family and social gatherings in the area. The TripAdvisor Certificate of Excellence is truly a credit to the hard work and determination of every one of our associates. Our goal remains to be a major part of the community and to provide a memorable guest experience every time, every day.”
Additional information about Marshall Management may be found at the company's Web site: http://www.marshallhotels.com/.
Daly Gray, Inc.
Pat Daly, Jerry Daly, media
Daly Gray Public Relations
NEWPORT BEACH, CA– American Healthcare Investors, a commercial real estate investment firm that specializes in the acquisition and management of healthcare-related properties, announced today that Mathieu Streiff (top right photo) has joined the company as a principal.
“Matt offers a rare blend of sharp legal intellect with extensive real estate investment expertise and operational know-how,” said Jeff Hanson (middle left photo), principal of American Healthcare Investors. “His insight and experience will provide immeasurable value to our company and investors.”
Streiff previously served as executive vice president and general counsel of Grubb & Ellis Company, where he oversaw all legal matters for the company, including risk mitigation initiatives, corporate structuring and compliance, as well as legal strategy.
Prior to his appointment as general counsel, Streiff served as senior vice president of investment operations and chief real estate counsel for Grubb & Ellis’ investment management subsidiary.
In this role, he was responsible for all real estate-related legal matters, and directly oversaw the operations of the company’s public, private, and institutional investment vehicles, including acquisitions, dispositions, and structured finance functions across a diverse range of investment offerings.
Streiff previously served as an associate in the real estate department of Latham & Watkins LLP in New York, where he represented principals, developers and lenders in structuring commercial real estate transactions. Streiff earned a juris doctorate from Columbia University and a bachelor’s degree from the University of California, Berkeley.
“American Healthcare Investors represents a reunion of the senior executive team that launched Grubb & Ellis Healthcare REIT II, established its investment strategy, and is responsible for its industry-leading performance,” said Streiff.
“Our team has established itself as the premier manager of healthcare-focused non-traded REITs in the industry, a strong track record we are excited to further enhance as we maintain our singular focus on building stockholder value.”
American Healthcare Investors has established a joint venture with Griffin Capital Corporation and affiliates to advise and manage Grubb & Ellis Healthcare REIT II, a publicly registered non-traded real estate investment trust that currently owns a portfolio of healthcare properties valued in excess of $430 million and seeks to raise up to $3.0 billion in equity capital. The REIT will be renamed Griffin-American Healthcare REIT II in the coming weeks.
On Nov. 8, the independent members of the REIT’s board of directors announced that it had elected to replace Grubb & Ellis as sponsor with American Healthcare Investors and Griffin Capital as co-sponsors. It also appointed Griffin Capital Securities as replacement dealer-manager.
Hanson, Streiff and Danny Prosky (middle right photo), the third principal of American Healthcare Investors, have completed in excess of $15 billion in aggregate acquisition and disposition transactions during their careers in commercial real estate investment, $5.0 billion of which has been healthcare-related real estate transactions. Approximately $8.0 billion of the $15 billion was completed as a team while they led Grubb & Ellis’ investment management subsidiary for more than half a decade, from 2006 through 2011.
For more information regarding American Healthcare Investors, please visit http://www.americanhealthcareinvestors.com/.
. For more information regarding Griffin Capital, please visit http://www.griffincapital.com/.
For more information regarding Grubb & Ellis Healthcare REIT II, please visit www.gbe-reits.com/healthcare2.
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