Tuesday, June 26, 2012

Stirling Sotheby’s International Realty to Sell 14.5 acre Mixed-use Development site on Lake Haines in Lake Alfred, Southwest of Orlando

ORLANDO, FL--- Stirling Sotheby’s International Realty has been named exclusive sales and marketing agents for a 14.5 acre mixed-use development site (top left aerial photo) located on U.S. 17-92 overlooking Lake Haines in the City of Lake Alfred southwest of Orlando in the attractions area.

 To see a brochure of the property go to http://stirlingsir.netii.net/LakeHaines_eBrochure.pdf

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said the site is zoned to permit development of single family, multi family, office and retail uses.

The site features approximately 1,600 square feet of frontage on U.S. 17-92 and 900 feet of lake  frontage on Lake Haines, with boat docks allowed.  Soderstrom said the property gradually slopes toward the lake, allowing lake views throughout.

Stirling Sotheby’s International Realty Associates Mark Arnold (lower right photo) and Roger Soderstrom, Jr. (lower left photo) are representing the property which is listed for sale at $750,000.

For more information, contact: 

Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890 
Larry Vershel or Beth Payan, Larry Vershel Communications

Host Hotels & Resorts, Inc. Announces Two Transactions in Rio de Janeiro and Nashville, TN

BETHESDA, MD  /PRNewswire/ -- Host Hotels & Resorts, Inc. (NYSE: HST) announced that the Company has entered into an agreement to develop two hotels in Rio de Janeiro, Brazil and, through a joint venture agreement, will develop one hotel in Nashville,

The Company has acquired land and entered into a construction agreement with Galwan Engineering and Performance Realty to develop a 150-room Novotel hotel and a 255-room ibis hotel in Rio de Janeiro, Brazil for approximately $72 million.

As part of this transaction, the Company signed an agreement with Accor to manage the hotels.  Construction is scheduled to begin in July 2012 and the hotels are projected to open mid-year 2014.

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

 Gregory J. Larson,
 Executive Vice President,
 +1-240-744-5800; or
Gee Lingberg,
Vice President, +1-240-744-5275

HFF arranges $85 million refinancing for The Houstonian Hotel, Club & Spa in Houston, TX

HOUSTON, TX – HFF announced today that it has arranged an $85 million refinancing for The Houstonian Hotel, Club & Spa (top left photo) an 18.34-acre urban resort in Houston, Texas.

Working on behalf of The Redstone Companies, L.P., HFF secured the fixed-rate loan.  Capital was provided by AXA Equitable Life Insurance Company through its advisor, Quadrant Real Estate Advisors.

The Houstonian is situated on 18.34 wooded acres in the Galleria area and is Houston’s premier luxury hotel and fitness facility.  The resort was ranked #25 among the World’s Best Business Hotels and #11 among top resorts by Travel+Leisure magazine in 2010.

In addition to 289 premier guest rooms, the property includes an award-winning health club and day spa as well as 26 meeting spaces.  Renovated in 2003, hotel amenities include 24-hour room service, valet parking, bar, cafĂ© and two full-service restaurants, access to the private Houstonian Club and preferred access to Redstone Golf Club, home of the Shell Houston Open PGA TOUR event.

The HFF team representing the borrower was led by managing director Matt Kafka (lower  right photo) and real estate analyst Corby Chaffin.

For more information, please visit www.quadrantrealestateadvisors.com and www.redstonecompanies.com.


MATTHEW KAFKA                                       
HFF Managing Director                                 
(713) 852-3500                                                   

HFF Director, Marketing
(713) 852-3500

CalPERS Takes Ownership Interest in North America Real Estate Advisor; Pension Fund Invests $100 Million in Bentall Kennedy


SACRAMENTO, CA – The California Public Employees’ Retirement System (CalPERS) today announced that it has invested approximately $100 million in Bentall Kennedy, becoming a one-third owner in one of North America’s largest real estate investment advisors.

CalPERS acquired the ownership interest in Bentall Kennedy that has been held for the past two decades by Ivanhoe Cambridge, the real estate investment subsidiary of the Caisse de Depot et Placement du Quebec. The remaining two-thirds limited partnership ownership is evenly split between the British Columbia Investment Management Corporation (bcIMC) and Bentall Kennedy’s senior management team.

The investment marks a new strategic move for CalPERS to engage the pension fund and its staff with an experienced real estate investment and management team by taking an ownership interest. It also brings together three like-minded institutions whose cultures are driven by long-term performance, growth and environmental and governance leadership.

“Bentall Kennedy has a track record of fiduciary excellence and is a global leader in environmental, social and governance practices,” said Rob Feckner (top right photo), President of the CalPERS Board of Administration. “This relationship will allow our real estate team to further expand on trends and opportunities in real estate investment and management.”

“Bentall Kennedy’s North America-wide business platform for real estate investment is a welcome addition to our real estate strategy,” said Henry Jones (middle right photo), Chair of CalPERS Investment Committee. “We have maintained a strong relationship with them over the years and fully support their investment strategy and shared goals of successful and sustainable long-term investment performance.”

Bentall Kennedy has been a real estate partner with CalPERS for more than 15 years through a number of investments.

“CalPERS is pleased to collaborate with bcIMC in a mutually beneficial structure for long horizon pension investors,” said Joe Dear (top left photo), CalPERS Chief Investment Officer.

Ted Eliopoulos (lower left photo) Senior Investment Officer for CalPERS real estate program said, “This investment supports our long-term strategic goals in real estate and aligns us with a strong investment partner.”

CalPERS has more than $18 billion invested in global real estate – approximately 8 percent of the fund’s $228 billion investment portfolio.

CalPERS is the largest public pension fund in the U.S. It administers retirement benefits for more than 1.6 million California state, local government, and public school employees, retirees, and their families on behalf of more than 3,000 public employers, and health benefits for more than 1.3 million enrollees. The average CalPERS pension benefit is $2,332 per month. The average benefit for those who retired in the most recent fiscal year that ended June 30, 2011, is $3,065 per month.

For more information, please visit www.calpers.ca.gov.


External Affairs Branch
(916) 795-3991
Robert Udall Glazier, Deputy Executive Officer
Brad Pacheco, Chief, Office of Public Affairs

Atlanta’s Commercial Real Estate Show Examines Beneficial Technology

 ATLANTA, GA (June 26, 2012) – Technology is rapidly transforming the commercial real estate industry, and opportunities abound for brokers, owners and investors to increase efficiencies and profits.

 The most recent episode of “America’s Commercial Real Estate Show” put the spotlight on some of the technology tools savvy professionals are using to make their jobs easier.

 Ten Eight, a mobile appcreated by Patrick Braswell (top right photo), a principal with technology firm Ten Eight, allows prospective tenants to rate various components of office buildings while they’re touring the properties. The app, which is available for free to brokers and tenants, creates a score for each building to give the prospective tenant data to compare the facilities.

Tenants “start to have a hard time remembering what they saw, which of course leads to frustration,” Braswell said. “We wanted to make something that would help tenants capture their subjective feelings they have about a building while on tour and turn that into objective data to help them make a better real estate decision.”

 Upcoming versions of Ten Eight will be available for retail and industrial properties and will also allow users to access site floor plans and property tour booklets, Braswell added.

  Brendan Erickson (top left photo), a vice president of the software firm REI Wise, discussed his company’s Commercial Investment Analysis Software, which creates cash flow and return on investment analyses as well as property marketing materials from the same data entry.

“If you are in the dugout and not on the field playing ball, you’re missing out on a ton of opportunity, and we equate being behind a computer to being in the dugout,” Erickson said. “If we can limit the time and effort you’re putting in [in front of a] computer … our goal is done.”

 Robin Webb, (lower right photo) CEO of CCIMTechnologies, provided an overview of his firm’s Site to Do Business, a research site that provides users comprehensive demographic information about a particular market or sub-market. For example, the site can help a broker who wants to know “where all the CPAs or lawyers are that might fit into a space that’s vacated,” Webb said.


Stephen Ursery
Wilbert News Strategies
Office: (404) 965-5026
Cell: (404) 405-2354