Wednesday, August 28, 2013

Stonegate Golf Club at Solivita in Kissimmee, FL Appoints Christopher Sterrick Assistant Golf Course Superintendent

The Oaks golf course, Kissimmee, FL

Christopher Sterrick
 KISSIMMEE, FL--- Stonegate Golf Club at Solivita in Kissimmee has appointed Christopher Sterrick assistant golf course superintendent at The Oaks golf course.

Christopher Russell, PGA, TPI, director of golf at Stonegate Golf Club at Solivita, said Sterrick is a certified associate in Golf Operation Management who was formerly with Orlando’s Universal Resort and most recently served as assistant superintendent at Sweetwater Country Club in Longwood.

 “Chris is passionate about the game and the courses he works on and he brings a strong work ethic to a highly motivated 10-person golf course grounds team,” Russell said.
  For a complete copy of the company’s news release, please contact:

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644 4142

Hendricks-Berkadia Negotiates Sale of 45 Town Home Sites at Tuscany Place Town Homes in Winter Springs, FL

Tuscany Place Town Homes, Winter Springs, FL

Cole Whitaker
ORLANDO, FL --- Hendricks-Berkadia Real Estate Advisors, which ranks as one of the leading multi-family investment banking and research companies in the nation, recently negotiated the $450,000 sale of 45 town home sites, grouped in five pads, located within the 13.5 acre gated Tuscany Place Town Homes community at 600 Northern Way in Winter Springs.

Hal Warren
Partner Cole Whitaker, who heads Hendricks-Berkadia in the southeast region, and associate partner Hal Warren negotiated the sale representing the seller, PNC Bank.

The buyer, Rodrigo Torres, plans to develop the property with town homes.

Tuscany Place Town Homes, which comprises 111 units, was built in two phases – in 1981-1986 and 1997-2007 – and includes a community swimming pool, cabana and private park.

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

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

Jones Lang LaSalle Closes $22 Million, Tempe, AZ. Industrial Portfolio Sale

Part of Broadway industrial portfolio, Tempe, AZ

Mark Detmer
PHOENIX, AZ –Capital Markets experts in the Phoenix office of Jones Lang LaSalle (JLL) have completed a $22.1 million sale of Broadway Industrial Portfolio, totaling three Class A buildings and 308,038 square feet in Tempe, Ariz.

The deal is JLL’s second investment sale in the area this quarter, accentuating the strength and draw of the submarket’s commercial real estate inventory.

Jones Lang LaSalle Managing Directors Mark Detmer and Bo Mills represented the property seller, San Francisco-based Prologis, Inc. The buyer is DCT Industrial Trust.

Bo Mills
Broadway Industrial Portfolio encompasses an 110,000-square-foot building at 1005 W. Alameda Dr; a 96,437-square-foot building at 2910 S. Hardy Drive; and a 101,601-square-foot building at 2925 S. Roosevelt St., all in Tempe.

Each building is a Class A, institutional quality asset offering manufacturing, distribution and office space. The properties are also all located directly off of Interstate 10 and fully occupied, with no near-term rollover, to tenants including United Stationers Supply Co., ACI Plastics, Inc., Misty Mate, Inc. and Triumph Group, Inc.

“These buildings are exceptional in that they combine outstanding functionality and full occupancy with a true Class A image in an infill location,” said Detmer. “This includes access—within minutes—to many of the key amenities that a high-end industrial user might need: an extensive freeway network, international airport, deep labor pool and host of retail opportunities.”

Broadway 101 Office Park, Tempe, AZ
In addition, the project is located within the Southeast Valley, an area that over the last decade has remained one of the nation’s fastest growing regions for industrial and technology companies, and according to JLL is well situated for long-term stability.

Jones Lang LaSalle Executive Vice Presidents Pat Harlan and Steve Sayre, and Associate Kyle Westfall, will serve as the exclusive leasing brokers for the property buyer on behalf of DCT Industrial Trust.

 This is the second investment sale closed by JLL in the Tempe submarket this quarter. In July, the firm completed a $27.1 million sale of Broadway 101 Office Park, a deal that was driven by high market demand and fundamentals reminiscent of pre-recession transactions.

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

Stacey Hershauer

NAI Heritage and NAI Realvest Complete $1.175 Million sale of Vacant Land in Sumter County, FL

The Villages, Lake and Sumter Counties, FL

ORLANDO, FL -- A 4.27 acre parcel located at 4477 East County Road 466. in Oxford, Fla. – west of The Villages in Sumter County – recently sold for $1,175,000.

Randy Buss
 Randy Buss of NAI Heritage in Ocala, negotiated the transaction representing Branch Banking and Trust Company, the Winston-Salem, N.C.-based seller referred by Robert Blackwell, SIOR of NAI Realvest in Orlando.

Robert Blackwell
 The buyer, Self Storage Associates, Inc. of Windermere, was represented in the transaction by Austin Anderson of Realty Executives-Lake County in Clermont.

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

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Charles Dunn Completes Sale of Vacant Multifamily Property in Los Angeles

2476 North Beachwood Drive, Los Angeles, CA
Michael Hibbert
LOS ANGELES, CA, Aug. 28, 2013 – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $1.53 million sale of a vacant, five-unit multifamily property located just north of Franklin St. at 2476 N. Beachwood Drive in Los Angeles.

Michel Hibbert, senior managing director of Charles Dunn Company, represented the seller, an LLC from Los Angeles. The buyer was the Pachucki Family from Los Angeles who was represented by Andrew Maleski of ACM Properties. 

Andrew Maleski
“The property presented the investor with a strong value-add opportunity,” said Hibbert. “The buyer plans to renovate the vacant property in a submarket with just three percent vacancy and rising rents.”

According the Hibbert, the property was marketed for several months generating over 15 offers. “Through our extensive marketing program and sales expertise in the area, we were able to screen and select the ideal buyer who was the highest bidder with the highest likelihood of a smooth and quick closing. The property sold for 97 percent of the asking price.”

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

Darcie Giacchetto
D.G. Communications, Inc.

MBA Reacts to Risk Retention Re-Proposal


WASHINGTON, D.C. (Aug. 28, 2013) – David H. Stevens, President and CEO of the Mortgage Bankers Association (MBA), issued the below statement following today's re-proposal of the risk retention rule.

David H. Stevens
“The re-proposed rule is a reflection of how well the notice and comment process can work.  Regulators proposed a rule and received a unanimous reaction from diverse groups within housing and real estate finance that the proposal would have unduly constrained  the availability of mortgage credit for many borrowers.

“As a result the regulators recognized the implications for consumers and the broad mortgage markets, and decided to alter and then re-propose a much better rule.

“We are extremely pleased with the proposal that aligns the Qualified Mortgage (QM) and Qualified Residential Mortgage (QRM) definitions for risk retention purposes.

“It is important to note that the risk retention rule impacts other asset classes including commercial mortgage-backed securities (CMBS). In that vein, MBA is gratified that the Premium Capture Cash Reserve Account (PCCRA) proposal was eliminated from the re-proposal. 

"The PCCRA would have required all issuer profits to be placed in a first-loss position, which would have eliminated the financial incentive for issuing CMBS.

“MBA applauds the regulators for carefully balancing the competing policy objectives in this rule, and looks forward to continuing to work with them to ensure that other portions of this rule are strengthened in order to bolster the real estate markets and also protect borrowers and investors.”

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

Rob Van Raaphorst
(202) 557-2799

Berger Commercial Realty Broker Judy Dolan Closes Five Leases at Merrill Industrial Center in Fort Lauderdale, FL

FORT LAUDERDALE, Fla. (August 28, 2013)- Berger Commercial Realty, a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced broker Judy Dolan represented landlord Merrill Industrial Center, Inc. in five leases of warehouse space at Merrill Industrial Center in Fort Lauderdale.

Judy Dolan
Postal Center International renewed and expanded its lease to 32,568 square feet at 3406 S.W. 26th Terrace, Bay C-1.

World Wide Metric, Inc. renewed and expanded its lease to 12,213 square feet at 3402 S.W. 26th Terrace, Bay B-9-11.

Broadband Technical Resources, Inc. signed a new lease for 8,142 square feet at 3406 S.W. 26th Terrace, Bay C-8.

VKGS, LLC, doing business as Bingo Kings, renewed its lease of 8,142 square feet at 3402 S.W. 26th Terrace, Suite B-3/4.

Avenger Engineering, Inc., represented by Greg Milopoulos of Berger Commercial Realty, signed a new lease for 4,071 square feet at 3402 S.W. 26th Terrace, Suite B-5.
For a complete copy of the company’s news release, please contact:

Marielle Sologuren
(954) 776-1999, ext. 226

Hilton Worldwide Rolls Out Nearly 4,000 Hotels on Expedia Traveler Preference Program

Hilton Hotels Corp. headquarters, Beverly Hills, CA

Melissa Maher
Bellevue, WA, Aug.  28, 2013 – The Expedia® group, the largest online travel company in the world, announced that Hilton Worldwide has enabled nearly 4,000 hotels on the Expedia® Traveler Preference™ (ETP) program. These hotels now offer travelers choice on how they would like to pay for their reservation, either at the time of the booking or at the time of stay.

 “This innovation from Expedia’s ETP program will give us access to a wider pool of potential guests,” said Eduardo Schutte, ýsenior vice president of the Global Sales Services & Distribution Group at Hilton Worldwide.

Eduardo Schutte
 “Expedia Traveler Preference is a simple yet effective offering and we are delighted by the additional demand that we believe it will bring to our hotels.”

 In addition to Hilton Worldwide, other global brands that have rolled out ETP properties broadly include Accor and Marriott International, with about 1,500 and 3,000 properties live on the program respectively.

 “We are thrilled with the enthusiasm that Hilton Worldwide has shown for ETP,” said Melissa Maher, senior vice president of the Global Partner Group at Expedia. “Hilton has been the largest ETP rollout yet, and we see their commitment as a big endorsement of the value of the program.”

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

Sperry Van Ness International Corp. Announces $19.65 Million Sale of 210-Unit Multifamily Property in Summerlin Area of Las Vegas

Indigo Creek apartments, 2200 Club Pacific Way, Las Vegas, NV

Las Vegas, NV (Aug. 28, 2013) Sperry Van Ness International Corporation (SVNIC) has announced the $19.65 million sale of Indigo Creek, a 210-unit Class A multifamily property in the Summerlin submarket of Las Vegas.  The property is located at 2200 Club Pacific Way near the 95 Freeway and Lake Mead Blvd.

David Baird
David Baird and Brandon Baird of SVNNV’s Las Vegas office represented the buyer, San Francisco-based FPA. Michael Miyagishima of SVNIC’s San Francisco office represented the seller, San Francisco-based Tomanek.

 “Las Vegas is in the early stages of recovery,” said David Baird, managing director. “Multifamily is arguably the strongest property sector for investment as the demand for quality rental units holds steady.

“Additionally, rental rates – which are still far below peak levels – offer plenty of room for value creation for an owner as rents are anticipated to continue to rise over the months and years to come.”

Michael Miyagishima
 Baird added that the property was a non-distress sale and the closing cap rate was a low 5.5 percent.

 Indigo Creek includes 21 buildings and is situated on 8.52 acres of land.  Community amenities include a fitness center, clubhouse, business center, playground, pool, and spa.

 There are 25 one-bedroom/two-bathroom units; 151 two-bedroom/two-bathroom units; and 36 three-bedroom/two-bathroom units with monthly rents ranging from $749 to $925. At the close of escrow, the community was 95 percent leased.
For a complete copy of the company’s news release, please contact:

David Ebeling
Ebeling Communications
949.278.7851 (Cell)

Lincoln Wins New Leasing and Management Assignments in Metro Orlando

Kirkman Point, Orlando, FL

ORLANDO, FL (Aug. 28, 2013) – Lincoln Property Company Southeast (Lincoln) has been awarded new management and leasing assignments for four properties in metro Orlando.

Baldwin Park office building, Winter Park, FL
The firm won management and leasing assignments for Baldwin Park I and II and Kirkman Point.

Lincoln also won a management assignment for Water’s Edge Plaza, an office/medical office building less than two miles from Orlando Regional Hospital. Lincoln already has the leasing assignment for the property.

“We are honored that these property owners have entrusted these facilities to Lincoln, and we are exceptionally proud of our track record of delivering great results for our landlord clients,” said Scott Stahley, a senior vice president for Lincoln who oversees the firm’s Orlando office. 

Scott Stahley
“I’m excited to see the value our team will create with these new assignments.”

Built in 2003, Baldwin Park I and II are Class-A office buildings located in downtown Baldwin Park and are within walking distance of numerous restaurants, shopping centers and residential areas.

 The buildings total nearly 65,000 square feet and provide ideal locations for corporate headquarters and professional service firms. Baldwin Park I currently is fully occupied, and Baldwin Park II features up to 4,890 square feet of available office space.

Robert Kellogg
The four-story, Class-A Kirkman Point is LEED Silver-certified and is conveniently located off International Drive and one block from Universal Boulevard, with easy access to I-4, Florida’s Turnpike, John Young Parkway and the East/West Expressway.

Totaling 134,000 square feet, it features approximately 23,400 square feet of available ground-floor retail space.

The single-story, 47,000-square-foot Water’s Edge Plaza is ideal for family practice, medical and professional office use. It features ample parking and an on-site deli café.

Waters Edge Plaza,  Orlando, FL
Robert Kellogg, vice president – office for Lincoln, and Austin Stahley, a leasing associate with the firm, will oversee the leasing of Baldwin Park I and II and Kirkman Point. Kellogg already handles the leasing for Water’s Edge Plaza.

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

Stephen Ursery
The Wilbert Group