Thursday, February 21, 2013

NAI Realvest Negotiates sale of three-acre commercial development site in Winter Springs, FL

Paul P. Partyka
Maitland, FL --- NAI Realvest recently negotiated the sale of a three-acre development site on the west side of Winding Hollow Blvd. just south of SR 434 in Winter Springs.

Paul P. Partyka, managing partner at NAI Realvest, negotiated the transaction representing the seller, Wintersprings Land LTD based in Maitland.  

 The buyer, Altamonte Springs-based Florida Trust Administration LLC, will develop a professional office facility on the site at the entrance of the Winding Hollow subdivision.  The project will be called the Offices at Winding Hollow.

Gary Medley of Venture I Properties Inc. represented the buyer in the transaction.

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

Paul P. Partyka, Managing Partner, NAI Realvest 407-875-9989;    
 Patrick Mahoney, President, NAI Realvest 407-875-9989;
 Beth Payan or Larry Vershel, Larry Vershel Communications, Inc. 407-644-4142 

Jones Lang LaSalle Completes $9.8 Million in Phoenix, AZ Multifamily Sales

Indigo Apartments, 16160 S. 50th Street
Phoenix, AZ
 PHOENIX, AZ – The Jones Lang LaSalle Phoenix Capital Markets Team has completed two multifamily investment sales that will move the local Cobalt and Indigo rental properties from a “stalled” and distressed position on to a new track for quick completion and delivery to the Phoenix rental pool.

“The recession stopped many local multifamily and condo construction projects in their tracks, and some of these distressed sites have been sitting, unfinished, for years,” said Jones Lang LaSalle Executive Vice President John Cunningham.

Cobalt Apartments, Phoenix, AZ
“As our market fundamentals improve, we’re seeing properties like Cobalt and Indigo come under new ownership, gaining the capital resources they need to transition from a community eyesore to a completed, active rental complex. It is a very positive trend.”

Seattle-based Goodman Real Estate purchased Cobalt for $5.6 million and Indigo for $4.2 million.

John Cunningham
Cunningham, along with Jones Lang LaSalle Vice President Charles Steele, represented the properties’ seller, Newport Beach, Calif.-based Sabal Financial Group, which specializes in the acquisition of distressed real estate loans and bank credit advisory services.

Located at 32nd Street and Union Hills in Phoenix, Cobalt is a gated Class A multifamily property that includes 24 completed units and land for a 66-unit expansion.

Charles Steele
Indigo is a fractured Class A condominium asset totalling 30 units at 16160 S. 50th Street, near I-10 and Chandler Boulevard in Ahwatukee. Seventeen of Indigo’s units were previously sold as condominiums, however the new owner is pursuing acquisition of these sold units as part of its de-fracturing strategy. Indigo also has infrastructure in place to build an additional 78 units.

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

Stacey Hershauer
Marketing & Public Relations
(480) 600-0195

Southern California Female Construction Executives Begin Professional Organization for Women in Construction Operations

(Pictured Left to Right, Front to Back)
Lia Tatevosian, Michelle Garcia, Shaabini Alford , Lucy Villanueva, Sammi Maya, Elle Navarro,, Kasie Bowden, Amanda Corbet, Holly Cindell, Kathlynn Smith, LaDrena Dansby, Sarah Creighton, Jessica Drake, Nancy Goldman

Newport Beach, CA  (Feb. 21, 2013) – Sarah Creighton and Holly Cindell of McCarthy Building Companies, Inc. of Newport Beach are among a group of pioneering women from Southern California construction, architecture and engineering companies to begin WiOPS—a new professional organization geared specifically toward women in construction operations.

Holly Cindell
Creighton and Cindell were named co-chairman for the new organization which aims at mentoring women working in the operations side of construction.

“Women make up less than 10% of the construction workforce with an even smaller number in professional and managerial positions,” said Sarah Creighton, vice president operations, education services for McCarthy Building Companies of Newport Beach. 

“There are other industry organizations out there for women in construction, but none of them are tailored to women in construction operations roles. We started WiOPS to fill that gap.”

This past summer, Creighton and Cindell joined with 13 other women in likeminded careers to set up a board and establish goals and a mission for WiOPS. As a result, the group determined their primary goal will be to facilitate mentorship of up and coming women in the construction, architecture and engineering professions.

Sarah Carr Creighton
The WiOPS founding board members include: Co-chairmen, Holly Cindell and Sarah Creighton, McCarthy; Vice Chairman, Nancy Goldman, Jezowski & Markel; Secretary, Kasie Bowden, Hensel Phelps Construction Co.; Treasurers, Lia Tatevosian, Swinerton Builders and Lucy Villanueva, McCarthy; Membership, Amanda Corbet, McCarthy and Events Coordinator, Shaabini Alford, Murray Company.

Other WiOPS members instrumental to the group’s founding include: Bernadette Reyes, Clark Construction Group; LaDrena Dansby, USC Capital Construction Development; Elle Navarro and Michelle Garcia, Hensel Phelps Construction Co.; Sammi Maya, McCarthy; Jessica Drake, Swinerton Builders and Kathlynn Smith, Hunt Ortman and founder of SmartGirls and SmartGirls’ Guide to Construction Law.

WiOPS membership is open to women and men in construction, architecture and engineering industries serving in operations, managerial, estimating, engineering and design career paths.

 For more information about membership or to sign up to attend their next meeting, please visit

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

Laura Mickelson
 (LM Communications)                                                                 
(949) 453-0851                            

Post Properties Announces Quarterly Dividends

ATLANTA, GA--(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate investment trust, today announced quarterly dividends on its common stock of $0.25 per share for the first quarter of 2013. The dividend is payable on April 15, 2013 to all common stockholders of record as of March 29, 2013.
Post also announced regular quarterly dividends on its 8.5 percent Series A Cumulative Redeemable Preferred Stock of $1.0625 per share for the first quarter of 2013. The dividend is payable on April 1, 2013 to all Series A preferred stockholders of record as of March 15, 2013.

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

Post Properties, Inc.
Chris Papa, 404-846-5000

Loews Hotels & Resorts Announces Troy Furbay as Chief Investment Officer

Troy Furbay
NEW YORK, NY - (Feb. 21, 2013) - Loews Hotels & Resorts, a wholly owned-subsidiary of Loews Corporation (NYSE: L), today announced the promotion of Troy Furbay to Chief Investment Officer, responsible for leading the company’s property acquisitions, real estate development and capital raising.

 Furbay, who joined Loews Hotels & Resorts in 2010, has played an integral role as the company continues to expand its brand.  Under his leadership, Loews has recently acquired hotels in Los Angeles, Washington, D.C. and Boston as well as hotels under construction in Chicago and Orlando.

Paul Whetsell
“Troy and his team are playing a vital role as we focus on growing and expanding our portfolio,” said Paul Whetsell, President and CEO of Loews Hotels & Resorts.  “He has a proven track record of successfully closing deals including the addition of three key assets to the Loews brand in the past year.”

 Prior to joining Loews, Furbay held the position of Senior Vice President of Acquisitions and Development for Kimpton Hotels, where he played an instrumental role in the company’s expansion through acquisitions, management contracts and joint ventures.  Earlier in his career, Furbay spent time with MeriStar Hotels and KPMG in development positions.  He started his hospitality career with Sheraton Hotels in 1990. 

Furbay received his MBA in finance from Fordham University and resides in New York City with his wife and two children.

 Like Loews Hotels & Resorts on Facebook:
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Watch Loews Hotels & Resorts on YouTube:

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

Loews Hotels & Resorts
Lark-Marie Anton                                                                  
(212) 521-2779
Sarah Murov
(212) 521-2495

Faris Lee Investments Tapped to Market For-Sale 20 Ruby Tuesday Restaurants

IRVINE, CA, Feb. 21, 2013 – After successfully marketing and selling 28 Ruby Tuesday properties totaling approximately $65 million on behalf of Ruby Tuesday, Inc. (NYSE: RT), Faris Lee Investments, the nation’s largest retail-specialized investment advisory firm, has been engaged once again to sell an additional 20 properties valued in excess of $60 million.

                In December 2011, Faris Lee was selected to market a first phase of properties occupied by Ruby Tuesday restaurants. 

Matt Mousavi
Since taking the assets to market, Faris Lee has now completed phase one with all 28 properties sold. This accomplishment marks the largest sale-leaseback offering by a publicly traded restaurant operator to the private marketplace ever.

                “Faris Lee was able to execute on the first 28-property offering at record-breaking cap rates never achieved in many of the markets where these properties were located,” said Matt Mousavi, managing director of Faris Lee Investments who represented Ruby Tuesday, Inc. as well as the majority of the individual buyers on the transactions.

Rick Chichester
“As opposed to selling the properties in a portfolio scenario, Faris Lee employed the strategy to sell the properties individually which insulated value and provided access to the seller to the vast private-market net leased buyer pool, resulting in higher proceeds per unit for the seller, and cap rates 200 basis points below the institutional buyer for the same offering.”

                “This assignment has been incredibly successful,” said Rick Chichester, president and COO of Faris Lee Investments. “Faris Lee has been able to raise a substantial amount of liquid capital for Ruby Tuesday, Inc. This has strengthened the company's balance sheet and provides the company with the capital for opportunistic share repurchases, to expand their store base, re-structure debt and make acquisitions.”

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

Darcie Giacchetto
Spaulding Thompson & Associates

NorthWest International Healthcare Properties REIT announces monthly distribution

TORONTO, Feb. 21, 2013 /CNW/ - NorthWest International Healthcare Properties REIT (the "REIT") announced today that it has declared a
distribution of $0.013334 per trust unit (TSX-V: MOB.UN) for the month of February 2013.  The distribution will be paid on March 15, 2013 to
unitholders of record as at February 28, 2013.

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

Paul Dalla Lana, CEO,
 (416) 366-8300 x1001

Brian Wilson, CFO,
(416) 366-8300 x1111

Wyndham Brand Grows in Latin America with Nicaragua Hotel

Wyndham Milagro del Mar Resort rendering
PARSIPPANY, N.J. (Feb. 21, 2013) – Wyndham Hotel Group, the world’s largest hotel company with over 7,340 hotels and part of Wyndham Worldwide Corporation (NYSE: WYN), today officially announced the planned expansion of its upscale Wyndham® Hotels and Resorts brand in Latin America with the addition of the 212-key Wyndham Milagro del Mar Resort on Nicaragua’s Pacific Coast.

San Diego Beach, Nicaragua
 The beachfront hotel, currently under construction on Villa El Carmen’s Playa San Diego (San Diego Beach), will become Wyndham Hotel Group’s first property in Nicaragua. Owned and developed by HB International, the property is scheduled to open in 2014.

 The agreement is another integral step in a focused strategy to increase Wyndham Hotel Group’s presence in Latin America. The company announced its 100th hotel in the region late last year and, as of Dec. 31, 2012, has 73 properties in the pipeline in Mexico, Central America, South America and the Caribbean.

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

Kathryn Zambito
Public Relations Manager
Wyndham Hotel Group
22 Sylvan Way
Parsippany, NJ  07054
(973) 753-6590