Tuesday, August 28, 2012

Smith Equities Closes Two Tallahassee, FL Multifamily Properties

ORLANDO, FL (Aug. 28, 2012) – Smith Equities Real Estate Investment Advisors is
pleased to announce the recent sale of two multifamily properties located in Tallahassee, Fl.

The Sweet Bay Club Apartments (top left photo) is a 41 unit (164 bed student property) located on Old Bainbridge Road that sold for $3,150,000 or $19,200 per bed.

Sweet Bay was built in 2003 and was comprised of all 4 bedroom 4 Bath units averaging 1596 SF per unit.

The seller was Mica Creek-Sagamore MF Venture V: Osceola, LLC. The buyer, Varden Capital Properties, LLC is planning to reposition the property toward a more student friendly environment.

Gerald A. Smith, (middle right photo) Senior Investment Advisor for Smith Equities Real Estate Advisors brokered the deal.

The 180 unit Monterey Apartments (lower left photo) sold for $3,750,000 or $20,833 per unit. Built in 1974, the average size was 989 SF per unit. The seller, Monterey Associates LTD, a Wisconsin limited partnership had owned the property since it was built. The buyer, Cabat Properties LLC is planning a major renovation and repositioning of the property.

 Smith brokered both deals.

“The Tallahassee multifamily market remains very strong in both occupancy and rents. The combination of a strong student population along with the government infrastructure in Tallahassee provides the demographics for a high level of investor demand for this market” said Smith.

“Having the technology to assess the market conditions and provide timely market data
to potential buyers is the key to successfully marketing and closing transactions.

" As a boutiquebrokerage specialized in multifamily investments, the brokerage technology we have developed allows us to immediately distribute detailed information about an investment opportunity to buyers that we know would be interested in a particular type of asset. In both cases, based on the sellers’ time constraints, we were able to contact suitable buyers, evaluate offers, go to contract and close within those time constraints” says Smith


Gerald A. Smith
Senior Investment Advisor
Smith Equities Real Estate Investment Advisors
350 East Pine St
Orlando, Fl 32801
Ph: (407) 422-0704 ext. 103
Cell: (407) 810-1628

Colliers International South Florida Represents Walmart Sublease

 MIAMI, FL, Aug. 28, 2012 - Colliers International South Florida is pleased to announce that Randy Olen (lower right photo), Executive Vice President, and Joe Abood, Office Leasing Specialist, have been retained to represent Walmart Stores, Inc. in subleasing a 7,096-square-foot office space at the 16-acre Corporate Park of Doral.

"This sublease is an ideal opportunity for prospects looking for immediate occupancy, a short term lease and excellent exposure with exterior signage visible from the Palmetto Expressway," says Olen.

The space, located at 7747 NW 48th Street, Suite 160 (top left photo) in Miami, can be subdivided to 3,548 square feet. Features include high-end modular furniture, closed circuit cameras, a large kitchen area and two conference rooms. 

 For more information on the listing, please contact Randy Olen or Joe Abood at + 1 305 446 0011.

Media contact:  

Crystal Proenza
Vice President of Marketing
Colliers International South Florida
Commercial Real Estate Services
Tel: 305 476 7138

Morris, Manning & Martin’s John G. “Sonny” Morris Included Among Atlanta's Real Estate Icons

Atlanta, GA ─ John G. “Sonny” Morris (top right photo), a founding partner of Morris, Manning & Martin, LLP, and the firm’s current Chairman, was included among Atlanta’s Real Estate Icons in an article in a recent issue of Real Estate Forum magazine, a national publication.

The article noted that “Atlanta’s ability to abound and rebound over the past few decades isn’t based on it strategic location alone ─ it’s also based on the professionals who helped shape the market.”
Other Atlanta Real Estate Icons included: Charles Ackerman, David Allman, Brantley Barrow, Hal Barry, Jim Borders (lower left photo), Robert Cole, Tom Cousins, Larry Gellerstedt, Timothy Gunter, Jim Jacoby, Christoph Kahl, A.J. Land Jr., John McDonald, R. Brand Morgan, Egbert Perry, Bob Peterson, John Portman, Ferdinand Seefried, Steve Selig, Ray Weeks, Leo Wells and John Williams.

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

Terri Thornton
(404) 932-4347

Berger Commercial Realty’s Brad Shepherd Appointed to Property Committee of Broward County YMCA


 FORT LAUDERDALE, FL (Aug. 28, 2012) – Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced that Vice President of Berger Special Assets Brad Shepherd (top right photo) has been appointed to the Property Committee of the YMCA of Broward County.

 He will assist in providing asset management advice by reviewing current and future facilities for the YMCA of Broward County.

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

Marielle Sologuren
Pierson Grant Public Relations
(954) 776-1999, ext. 226

Christopher K. Ivy Joins Interstate Hotels & Resorts as Executive Vice President, Development and Acquisitions


 ARLINGTON, VA, Aug. 28, 2012—Interstate Hotels & Resorts today announced that Christopher K. Ivy joined the company as executive vice president, development and acquisitions. 

In his new position, he will focus on sourcing business development projects within the select-service sector.  Ivy will report to Interstate’s chief investment officer, Leslie Ng (top right photo)

Ng noted that Ivy’s appointment compliments a strong team that includes Edward J. Blum (lower left photo), Interstate’s executive vice president, development and acquisitions who is focused on the full-service and resorts sectors.

“Chris has more than 20 years of experience acquiring and developing hotels, working through every economic cycle and in every sector of the industry,” said Ng.  “His experience with several leading international brands and strong industry relationships, combined with our reputation as world-class operators of select-service hotels, will be pivotal for our growth going forward.”

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

Chris Daly/Lauralee Dobbins 
Daly Gray                                                      
(703) 435-6293                                                              

Marcus & Millichap Capital Corp. Arranges $7.8 Million Multifamily Loan in Fort Worth, TX

FORT WORTH, TX – Marcus & Millichap Capital Corporation (MMCC) has arranged a $7,840,000 loan for a 316-unit multifamily property.

Brian Adams (top right photo), an associate director in MMCC’s Dallas office, arranged the acquisition financing.

 “An out-of-state investor entered the Dallas/Fort Worth market, and the purchase required the structuring of a fully leveraged acquisition loan,” says Adams. “MMCC secured an 80 percent LTV, nonrecourse loan for the property through one of our correspondent agency lenders.”

He adds, . “We closed the transaction in just 35 days from application at higher loan proceeds and a lower rate than were originally anticipated.”

Built in 1985, the property received a major upgrade in 2010 and was 94 percent occupied at closing.

The 10-year loan amortizes over 30 years at an interest rate of 3.87 percent.

Press Contact:

Stacey Corso
Marcus & Millichap Capital Corporation
(925) 953-1716

$19 Million Lender-Owned Independent Living Complex Sold in Jacksonville, FL by Marcus & Millichap

 JACKSONVILLE, FL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of Brighton Bay (top left photo), a lender-owned, 185-unit independent living community located in southeastern Jacksonville.

The sales price of $19 million represents $102,703 per unit and $85 per square foot.

 Michael Pardoll (middle right photo), a senior vice president investments in Marcus & Millichap’s Charlotte, N.C. office, represented the seller, a subsidiary of Wells Fargo & Co.

The buyer is The Carlyle Group, a Washington, D.C.-based asset management company. Kirk Felici (lower left photo), a vice president and regional manager of the firm’s Miami office, is Marcus & Millichap’s Florida broker of record.

 “Occupancy at independent living facilities will continue to strengthen as spillover demand filters in from age-restricted and market-rate communities,” says Pardoll. “Brighton Bay is well positioned to take advantage of this trend and also to change with the times as the property was built to code for conversion to assisted living.”

The property is located at 10061 Sweetwater Parkway, less than one mile from Florida State Road 9A, next door to a 1,000-resident retirement community and 15 minutes from downtown Jacksonville.

 The 222,444-square foot Brighton Bay was constructed in 2010 on 8.2 acres. The community offers studio and one-bedroom and two-bedroom residential suites on four floors. All suites include a full kitchen, large living room and one or more bathrooms.


Stacey Corso
Public Relations Manager
(925) 953-1716

STAG Industrial, Inc. Announces Acquisition Of Two Industrial Facilities in Simpsonville, SC For $9.2 Million

BOSTON, Aug. 27, 2012 /PRNewswire/ -- STAG Industrial, Inc. (NYSE:STAG) announces the acquisition of two industrial buildings for approximately $9.2 million containing a total of 411,994 square feet.

 The buildings are located in Simpsonville, South Carolina and are primarily leased to Lanxess Corporation with over 4 years of remaining lease term. 

Lanxess Corporation develops, manufactures, and markets chemicals, synthetic rubber, and plastics to the automotive, plastics manufacturing, construction, and sports industries.

This acquisition brings STAG's total 2012 acquisition volume to approximately $145 million.


Gregory W. Sullivan,
Chief Financial Officer,
 STAG Industrial, Inc.,

New Eatonville, FL Gateway Completed, Design Work Done By Rhodes+Brito

ORLANDO, FL --- Rhodes+Brito Architects, based in Orlando, recently completed design work for the new Eatonville Gateway (top left photo) that celebrates the city’s 125th anniversary.

Ruffin Rhodes (lower right photo), co-founder and partner at Rhodes+Brito Architects, said the project includes a large clock and a decorative archway that spans W. Kennedy Blvd. at the city’s entrance with a graded crosswalk and landscape.

The arch, mounted on 30 foot brick pedestals, also supports a monumental signboard that tells an important part of Eatonville’s history:  “The Town that Freedom Built. Oldest Incorporated African American Municipality in America.”

Rhodes said the project was completed in association with GAI Consultants.

Rhodes+Brito Architects is a full-service architectural firm that opened its offices in downtown Orlando in 1996 to specialize in design of public facilities, including schools, airports and courthouses.

For more information, contact:

Ruffin Rhodes, Rhodes+Brito Architects, 407-648-7288 x103 ruffin@rbarchitects.com
Maximiano Brito, Rhodes+Brito Architects, 407-648-7288 max@rbarchitects.com
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142
(fax: 4410)

Nester Clark Joins Hunter Realty’s Dallas Office as Vice President

ATLANTA, GA, Aug. 28, 2012—Officials at Hunter Realty today announced that Nester Clark (top right photo) has joined the company’s Dallas office as vice president. In his new role, he will be involved in hotel brokerage and real estate advisory services.

“Nester joins Hunter with an impressive resume that includes considerable global hotel real estate and institutional investor experience, as well as significant experience with the Wall Street investment community,” said Teague Hunter (lower left photo), president, Hunter Realty.

“He has been involved in transactions totaling in excess of $5 billion and has a solid background in the hotel industry.”
Clark previously was Senior Director at Westmont Hospitality Group, one of the world’s largest hotel owner-operators. He began his career as an analyst for Goldman Sach’s Whitehall Real Estate Funds and Asian Special Situation Group, where he oversaw real estate and distressed debt investments in the U.S., Japan, China, Thailand and South Korea.

He joined Soros Real Estate Partners, where he became the firm’s youngest-ever partner and led the build-out of Ishin Hotels Group, a Japanese hotel and resort platform with more than $500 million in hospitality assets. He subsequently helped found Grove International Partners. He holds an AB degree from Harvard University.

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

Patrick Daly or Jerry Daly (media)
(703) 435-6293


New Penthouses At Canyon Ranch Living Miami Beach Sell Out In Just Two Hours

MIAMI BEACH, FL. – Canyon Ranch Living Miami Beach (top left photo) set a speed record for sales when it opened penthouse residences for sale this month. The eight luxury homes atop the upper and lower center tower went under contract in two hours, with total sales exceeding $7 million.

“Buyers were asking about the residences even before we offered them,” said Michael Sadov (lower right photo), Real Estate Sales Director at Canyon Ranch Living Miami Beach. “They placed their names on a waiting list. When we formally notified them, they quickly signed contracts, sometimes sight unseen.”

“One residence was so spectacular the price exceeded $1,000 per square foot,” Sadov explained. “All of the buyers already owned homes at Canyon Ranch and were so enthused with the luxury lifestyle of healthy living that they couldn't wait to purchase again.”

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

Julie Talenfeld or Estee Pinzon
Boardroom Communications,
954-370-8999 or
for Canyon Ranch Living Miami Beach.

Estee Pinzon
Digital Media Specialist
Boardroom Communications
(954) 370-8999
(954) 370-8892 Fax

3rd Shanghai International Integrated Building Prefabricated Houses Expo & Forum 2013

SHANGHAI, CHINA, Aug. 28, 2012 -- IBPE2013, the third Shanghai integrated building prefabricated houses Expo and BBS, is scheduled to be held on March 2013 11-13 in the Shanghai world expo center (top left photo).

 IBPE2013 is another industry event held on the successful basis of the last host.

In 2012 show sessions, professional audiences are enthusiastic in the exhibition hall. 8735 visitors were received at the 6000 square meters of area. SIBPE was paid great attention to, which confirm the rapid development of the prefabricated building industry at home and abroad in recent years. Market share has an increasing number.

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

Tony Chen
Address: Room1502, NO.25, Alley867, XiuYanRoad, PuDong New Area, Shanghai, China
Tel: 0086-21-3820 5347
Fax: 0086-21-6091 7872
E-mail: tonychen@leasence.com


HFF closes sale of Deerfield Apartments in Austin’s southwest submarket

AUSTIN, TX – HFF announced today that it has closed the sale of Deerfield Apartments (top left photo), a 324-unit, Class A multi-housing community in Austin’s southwest submarket.

HFF marketed the property exclusively on behalf of the seller, Nevins Adams Lewbel Schell. Austin-based Falcon Southwest purchased Deerfield Apartments for an undisclosed amount. The new ownership will implement moderate upgrades to common areas and unit interiors during its hold period.

Deerfield Apartments is located at 8700 Brodie Lane close to Mopac Expressway and Highway 71 about 10 miles southwest of downtown Austin. Completed in 2001, the property has one-, two- and three-bedroom units averaging 945 square feet each. Deerfield Apartments was 97 percent leased at the time of sale.

The HFF investment sales team representing the seller was led by senior managing director Sean Sorrell (lower right photo).

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

HFF Senior Managing Director
(512) 532-1900

HFF Associate Director, Marketing
(713) 852-3500

HFF secures $29 million financing for 12-property self storage portfolio in Dallas and Houston

LOS ANGELES, CA – HFF announced today that it has secured $29 million in financing for a 12-property self storage portfolio totaling 7,964 units in Dallas and Houston, Texas.

HFF worked exclusively on behalf of World Class Capital Group, LLC to arrange the 10-year, fixed-rate loan through Morgan Stanley Mortgage Capital, Inc.  The securitized loan was used to acquire the properties and will be serviced by HFF.

The portfolio is comprised of three properties in Dallas, seven in Houston and two in League City (suburban Houston).  The properties, which were owned and operated by a national self-storage REIT, total 909,520 square feet.

The HFF team representing the borrower was led by director Christopher Vittetoe (lower right photo).

World Class Capital Group, LLC is a leading private investment firm based in Austin, Texas.  The firm pursues opportunities in all U.S. markets and has a distinct focus on alternative investments, primarily real estate and private equity.


CHRISTOPHER VITTETOE                                   
 HFF Director                                                                   
 (310) 407-2100                                                            
HFF Associate Director, Marketing
(713) 852-3500

HFF arranges $43 million refinancing for The Plaza at Encinitas Ranch in Southern California

 LOS ANGELES, CA – HFF announced today that it has arranged a $43 million refinancing for The Plaza at Encinitas Ranch (top left photo), a 145,303-square-foot power retail center in Encinitas, California.

HFF worked exclusively on behalf of the borrower, a joint venture between Zelman Development Company and Carltas Company, to secure the 13-year, fixed-rate loan through a life insurance company. 

The Plaza at Encinitas Ranch is located at 1550-1590 Leucadia Boulevard near the intersection of Encinitas’ retail-dominated El Camino Real thoroughfare.  Built in 2002, the property is 100 percent leased and is anchored by Wal-Mart.  Other tenants include REI, Starbucks, Pei Wei, Subway and AT&T.

The HFF team representing the borrower was led by senior managing director Paul Brindley (middle right photo).

Zelman Development Co. is a privately-owned commercial real estate development company headquartered in Los Angeles, California.  Founded in the early 1960’s, the company is now a diversified development/investment company with diverse holdings of retail, industrial, hotel, office  and other asset classes.  For more information, visit www.zelman.com.

 Carltas Company is a privately-owned real estate development and investment company committed to creating exceptional development projects for work and recreation. 

Founded in 1958, the company’s principal activities are focused in the Southern California counties of San Diego, Riverside and Orange. 

 The company is based in Carlsbad, California.

PAUL C. BRINDLEY                                       
HFF Senior Managing Director                     
(310) 407-2100                                                    
HFF Associate Director, Marketing
(713) 852-3500