Thursday, December 8, 2011
Black Castle Developments Holdings, Inc. Signs Letter of Intent to Acquire Stake in $3.3 Billion Mobile Marketing Industry
FRESNO, Calif., Dec. 8, 2011 /PRNewswire/ -- Black Castle Developments Holdings, Inc. (Pink Sheets:BCDH) ("BCDH"), a holding company targeting the acquisition of undervalued, niche companies, and owner of Black Castle Developments, which purchases non-performing notes and bank-owned, income-producing commercial real estate properties, announced today that it has entered into a letter of intent to acquire over 90% of bizM3 (www.bizM3.com), a pioneer in digital signage technology and multi-level mobile marketing solutions.
"bizM3 presented us with a very unique opportunity to not only diversify our current portfolio, but to capitalize on the explosive growth potential of the consumer mobile marketing industry," said Jeff Holroyd, CEO of BCDH.
Black Castle Developments Holdings, Inc.
Find Us on Facebook.
HOUSTON, TX – HFF announced that it has arranged financing for Villa Lago Apartment Homes (top left photo), a 204-unit, Class A multi-housing community in Ft. Worth, Texas.
HFF worked exclusively on behalf of Venterra Realty to secure the seven-year, fixed-rate securitized loan through Freddie Mac (Federal Home Loan Mortgage Corporation).
HFF will service the loan through its Freddie Mac Program Plus® Seller/Servicer program. Loan proceeds were used to acquire the property.
Villa Lago Apartment Homes is located at 8201 Boat Club Road in northwest Ft. Worth. Completed in 2009, the property has 10 three-story residential buildings with one-, two- and three-bedroom units. The 96 percent leased property features a resort-style pool, business center, fitness center and covered parking.
The HFF team representing Venterra Realty was led by director Cortney Cole (lower right photo).
Venterra specializes in the identification, finance, acquisition and management of multi-family residential communities in the southern United States.
Venterra currently manages a portfolio of multi-family real estate assets totaling over $850 million in value that generates gross annual income in excess of $125 million. The organization has completed in excess of $1.5 billion of real estate transactions. Venterra has offices in both Houston and Toronto and employs approximately 450 people.
CORTNEY R. COLE
Kristen M. Murphy, Assistant Director Marketing, (713) 852-3500 email@example.com
WASHINGTON, D.C. – HFF announced that it has arranged a $116.5 million construction loan for Monument View (top left photo), a 317,000-square-foot office development in Arlington, Virginia.
The development is located on a 4.7-acre site along South Old Jefferson Davis Highway adjacent to the Pentagon, Reagan-National Airport and Interstate 395 at the north end of Crystal City, offering unparalleled views of the Potomac River and Washington monuments.
The HFF team representing Monument Realty was led by Bill Asbill (top right photo), Bob Donhauser (middle left photo), Stephen Conley (lower right photo) and Dan McIntyre (lower left photo).
HFF Senior Managing Director HFF Director
(202) 533-2500 (202) 533-2500
Kristen R. Murphy, Assistant Director Marketing, (713) 852-3500 firstname.lastname@example.org
TEMECULA, CA. – Dec. 8, 2011 – Wilson Commercial Real Estate announced today the latest milestone of the revitalization program at The Commons at Temecula (top left photo).
The company has brokered new leases totaling approximately 100,000 square feet at the 293,000-square-foot power center, located at 40450 Winchester Road in Temecula, Calif.
Since 2009, Commons at Temecula has greatly increased its leasing activity. Major retailers like Pacific Sales and buybuyBaby have joined the tenant line-up, and recent new tenants include Nordstrom Rack, Freebirds World Burrito (currently under construction) and Five Guys Burgers and Fries.
“Wilson Commercial Real Estate has helped us to reposition The Commons at Temecula with new, dynamic retailers,” said Jed Craig, vice president/leasing director of Inland Pacific Management LLC, a subsidiary of Inland Western Retail Real Estate Trust, Inc (“Inland Western”). “The center’s new tenants make it more diverse and appealing to a broader group of consumers.”
The Commons at Temecula is a 25-acre power center located in the heart of Temecula, Calif. The high-end retail destination is anchored by Pacific Sales, buybuy Baby, Jo-Ann Fabrics, Cost Plus World Market, Petco, Sport Chalet, Party City and Office Depot.
Scott Burns (lower right photo) of Wilson Commercial Real Estate represented the landlord, Inland Western Temecula Commons, LLC, a wholly owned subsidiary of Inland Western, in each of the leases.
MIRAMAR, FL– Promptus, LLC, a licensed freight forwarder, customs broker and non-vessel operating common carrier (NVOCC), has relocated its headquarters from Miami to the Miramar Park of Commerce (bottom left photo).
The company has leased 21,094 sq. ft. of distribution and office space at 3950 Executive Way in the Park. Promptus, LLC is certified to handle hazardous material and can route cargo by ground transportation rail, air and ocean. They maintain a worldwide network of agents and can route cargo to and from almost anywhere in the world.
“The Miramar Park of Commerce offers our staff the perfect location and working environment due to its well-maintained common areas and close proximity to all of Florida’s major roadways,” said Julio Desangles (top right photo), general manager of Promptus, LLC.
Representing the Park in the transaction were Ryan Goggins of Sunbeam Properties, developer of the Park, and Carlos Velasquez of Vivo Real Estate. Representing Promptus, LLC was Jeff Hartsook of Capital Commercial Real Estate Group.
Julio Desangles, Promptus, LLC, 3950 Executive Way, Miramar, FL 33025, (305) 687-1405, Promptusllc.com
Maria Pierson, (954) 776-1999, ext. 222
PHOENIX, AZ – Phoenix-based Sperry Van Ness I MVP CRE Advisors has completed its second major General Services Administration (GSA) transaction of the fourth quarter—a $13 million office building (top left photo) sale in Redding, Calif.
The sale was completed by Mark Phillips (middle right photo), GSA specialist and Managing Director of SVN I MVP in Phoenix, Ariz.
According to Phillips, this transaction continues to underscore buyer demand for reliable assets – something the GSA is known for. “GSA is the nation’s largest tenant. Its properties have a history of maintaining or increasing their value in all types of economies,” he said.
The Redding, Calif. GSA building totals 55,594 square feet of Class B office space at 3644 Avtech Pkwy, and is fully occupied by the U.S. Forestry Service. It sold for $13 million, or $233.84 per square foot.
This tops the average asking price for area office space (approximately $200 per square foot) and the average sale price for area office space (approximately $175 per square foot).
“In tertiary markets like Redding, GSA buildings are often valued not only for their investment stability but also for the ‘mission critical’ nature of their operation,” said Phillips. “These are important commodities for smaller towns, and particularly during economic downturn.”
The Forestry Service has been at its Redding, Calif. location for seven years, operating labs, field offices and other functions supporting mission critical services and emergency scenarios.
Phillips represented the property buyer, a New York-based REIT that acquires single-tenant, freestanding properties throughout the U.S. The seller was Redding, Calif.-based Shasta Enterprises, a diversified real estate company and the building’s original developer.
Shasta was represented by Bill Haedrich, President of Redding, Calif.-based Haedrich & Co.
In October, Phillips completed the $7.4 million sale of a 23,485-square-foot GSA building in Sierra Vista, Ariz (lower left photo). The property is fully occupied by the Department of Interior on a 10-year lease and will be used as the National Business Center for the Department of Interior (the purchasing agent for the DOI).
For more, visit www.svnmvp.com.
Marketing & Public Relations
Atlanta, GA and Orlando, FL -- Construction is underway on the new Steel House Apartments (top left rendering) in downtown Orlando, developed by Pollack Shores Real Estate Group.
The official groundbreaking ceremony for the $40 million development was held Tuesday, Dec. 6.
“We are proud to cap off a successful 2011 with the Steel House groundbreaking,” said Pollack Shores president Steven Shores (middle right photo). “Steel House is indicative of the leading edge projects we will begin construction on in the coming months."
The transit-oriented development, located near the Lynx Central Station and future SunRail, is expected to create a positive economic impact of $64 million over several years.
“The Steel House is a huge victory for Downtown Orlando," said Orlando Mayor Buddy Dyer (middle left photo). Dyer describes downtown as Central Florida’s economic engine – a gathering place and hub for arts, entertainment and small business.
“The groundbreaking of this new residential community supports the fact that more and more people are choosing to live in our city's center,” Dyer added.
The new luxury four-story development will have 326 one- and two-bedroom apartments with the latest amenities, including granite countertops, stainless steel energy-saving kitchen appliances and custom cabinetry. The top floor will feature a clubroom with spectacular skyline views of the city. Other amenities include a pool, fountains, fitness center, business center and gallery space. A large percentage of the apartments will be one-bedrooms, which are in high demand.
“Environmental sustainability was a big priority,” added Michael Blair (bottom right photo) Managing Director of Development for Pollack Shores. Built on a redeveloped brownfield, the community’s environmentally-friendly features include energy-efficient heating and air, stormwater control and construction debris recycling.
" It will also have covered parking and roofing materials to help reduce heat island effect. “The land also features an easement for a future segment of the Urban Trail, a walking and biking pathway through downtown Orlando,” Blair said.
The first apartments are expected to welcome residents in the fall of next year, with full completion set for February 2013.
The address is 750 N. Orange Ave., Orlando, FL 32801. It is located at the intersection of North Orange Ave. and W. Colonial Drive – the gateway to downtown Orlando.
The architect is Poole & Poole Architecture, with interior design by Beasley & Henley. Cambridge Swinerton, LLC is the general contractor. The civil engineer is Bowyer Singleton. Foster Conant designed the landscaping and hardscapes.
Media contact: Terri Thornton 404-932-4347 Terri@TerriThornton.com
ATLANTA, GA (Dec. 8, 2011) With the sale of its brokerage and property management groups complete, Carter is focusing on new investment and development opportunities as well as growing its program management and strategic consulting groups.
Moving forward, Carter will leverage its 54-year-old brand to create value through its strong relationships. Specifically, Carter is focusing its efforts on the:
- Development of mixed-use and for-rent multifamily projects in urban infill locations.
- Equity development of student housing.
- Acquisition of opportunistic and value-add investments in office.
- Growing its well-established project management and strategic consulting businesses.
The firm’s more than 100 high-caliber associates will serve clients using a high-performance team-based approach that results in delivering maximum value for our clients and investors. This approach allows Carter to leverage the firm’s strong expertise and deep knowledge base in a wide variety of markets and product types.
“The sale of our brokerage services and property management businesses marks a milestone for Carter,” Chairman and CEO Bob Peterson (top right photo) said. “This transaction was a major step for us in executing our strategy to narrow Carter’s focus on building high-quality projects, investing in real estate and providing strategic solutions to our clients.”
Carter’s development business expects new opportunities to emerge as corporate and educational development begins to rebound. Carter is the No. 3 commercial developer in the United States, as ranked by National Real Estate Investor, and currently is overseeing The Banks (lower right photo), one of the largest mixed-use projects in the Midwest.
Carter is master developer of The Banks, a $600 million development on the Ohio River in Downtown Cincinnati, Ohio. Late last month, Carter announced plans to double the size of the retail and multifamily components along with new marketing efforts for the proposed office component.
In the K-12 education realm, Carter is currently overseeing a $107 million public school building program in Enid, Okla.
The firm’s Interiors group continues to be a leading third-party provider to top law and financial firms and grown its business well beyond Atlanta. The Interiors group currently has more than 500,000 square feet under construction for clients such as AT&T, RockTenn and Starwood Vacation Ownership.
Carter’s Higher Education and Campus Innovation team is currently leading a $100 million program at the University of Louisiana Lafayette that comprises 2,000 beds and 900 structured parking spaces.
“Our 54-year history of development across the Southeast and beyond positions Carter to take full advantage of new development opportunities,” said Carter President Scott Taylor (top left photo). “Our Development group is well positioned when it comes to developing and building out corporate, institutional and educational buildings and facilities.”
Carter’s Investments group is actively seeking new opportunities across the country. Vice Chairman Jim Shelton (middle right photo), who leads Carter’s Investments group, said he expects to see more high-quality assets to come to the market at distressed prices.
Carter recently invested in City Federal condominiums in Birmingham, Ala., and Valencia condominiums (bottom right photo) in Ponte Vedra, Fla., and played a key role on Piedmont Office Realty Trust’s acquisition of The Medici office building (lower left photo) in Atlanta.
The firm also serves as a service provider to Carter Validus Mission Critical REIT, which is focused on acquiring mission critical facilities such as data centers and healthcare facilities. John Carter (middle left photo), a Carter vice chairman, serves as CEO of Carter Validus Mission Critical REIT.
In other areas, Carter’s strategic consulting group has performed advisory assignments for seven major clients in 2011 alone. Carter will continue to deliver high-quality service and results from its asset management division, which oversees more than $2.5 billion of third-party and Carter-owned properties.
“Moving forward, you will see Carter aggressively leveraging our thought leadership and experience to pursue and participate in high-quality developments and investments on behalf of our firm and our clients,” Carter’s Peterson said. “We will do this while continuing to build on our core values of integrity, commitment and excellence.”
For additional information on Carter, please visit http://www.carterusa.com./
ATLANTA, GA, Dec. 8, 2011 -- Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today its Southeast Retail Group brokered the sale of Five Points Plaza (top left photo) in Goldsboro, N.C., for approximately $6 million.
The 57,000-square-foot center is 97 percent leased and is anchored by Delhaize Group’s Food Lion. The center also includes a Family Dollar, additional shop space, and two outparcels.
Cassidy Turley Vice Presidents Drew Fleming (top right photo) and Mark Joines (middle left photo) represented the buyer, a private equity group based in North Carolina. Marlene Spritzer (bottom right photo) of Spritzer Commercial Properties, LLC represented the seller, a North Carolina based developer.
“This center was attractive to the purchaser due to Delhaize’s credit rating,” said Fleming. “And the fact that additional value may be added through developing the outparcels.”
On Sept. 1, Cassidy Turley completed its acquisition of the brokerage and property management businesses of Carter, a national leader in project development, commercial real estate services and investments.
Cassidy Turley is a leading commercial real estate services provider with more than 3,400 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions.
The firm completed transactions valued at $18 billion in 2010, manages 455 million square feet on behalf of private, institutional and corporate clients and supports more than 25,000 domestic corporate services locations.
Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA.
Please visit http://www.cassidyturley.com/ for more information about Cassidy Turley.
LAS VEGAS, NV –Voit Real Estate Services has announced that based on the firm’s increasing number of Las Vegas team members, as well as its increasing number of brokerage, property management and asset management assignments in the market, the company has signed a lease for a new 7,667 square-foot regional office at 6385 S. Rainbow Blvd. (top left photo) in Las Vegas.
“Voit’s Las Vegas team began with two of the region’s top brokers, Kit Graski (middle left photo) and Kevin Higgins (bottom right photo).
Further information is available at http://www.voitco.com/.
Brower, Miller & Cole