Wednesday, September 18, 2013

Carter Website Wins Two Prestigious Awards


Marissa Winsky
 ATLANTA, GA (Sept. 18, 2013) – Carter, a leading real estate investment, development and advisory firm, is proud to announce that two prestigious marketing and media associations – the New Media Institute and the Web Marketing Association – have named the Carter website a Standard of Excellence winner in the real estate category.

Carter received the Standard of Excellence Award from the New Media Institute and the Real Estate Standard of Excellence Award from the Web Marketing Association.

Winners of New Media Awards are chosen by a panel of judges with “expert eyes in new media” and are judged on several criteria, such as how dynamic the site is, user-friendliness, content and how well it serves audience needs. 

Now in its ninth year, The New Media Institute this year awarded 36 companies with the honor; Carter is one of 17 companies chosen for the Standard of Excellence Award.

Laurie Israel
The Web Marketing Association has been recognizing excellence in online marketing for 16 years with the WebAward. Design, innovation, content, technology, interactivity, copywriting and ease of use are all criteria for winners. 

The WebAward honors companies in sectors as diverse as real estate, radio and biotechnology for their online marketing strategies. 

 This year, more than1,500 entries from 40 countries were judged in 96 industry categories. Carter is one of nine Real Estate Standard of Excellence winners. The category recognizes the most effective and best websites in both residential and commercial real estate sectors. 

“Carter uses its website as a platform to positively promote the essence of the Carter brand as a bold investor, developer and advisor,” said Marisa Winsky, marketing director at Carter.

Malloy Peterson
 “We are thrilled to have our website recognized and to be honored amongst the innovative line-up of winners. Our marketing department and leaders at Carter played an integral role in the rebrand last year and continue to support future enhancements to the website.”

Winners of both awards are chosen not only for design, but also for how they are employing technology to communicate with users. Carter is in good company among other winners, who include The Coca-Cola Beverage Institute for Health & Wellness, Pandora Mobile App, Kaiser Permanente, and

 “Carter has always been a maverick in the industry and we knew the new site needed to capture that brand personality,” said TG Madison’s Director of Digital Development David Massey. “We feel we were able to give a fresh look to an established brand while creating a site that delivers best in class user experience and functionality.”

David Massey
Malloy Peterson, senior vice president at Carter, and Laurie Israel, creative manager at Carter, worked with website developer SimpleFlame and marketing agency TG Madison to create the new design, layout and messaging that clearly defines the company’s offerings and effectively captures Carter’s unique entrepreneurial spirit. 

Built on the Adobe Catalyst platform, Carter’s website provides a unique user experience for its online audiences. The website was built in-house.
For a complete copy of the company’s news releases, please contact:

Tony Wilbert
The Wilbert Group

Extra Credit: Save Your Business Money With Tax Incentives


 ATLANTA, GA (Sept. 18, 2013) – With the increase in tax rates this past January, reducing tax burdens is more important than ever to both businesses and individuals. Interestingly, most people can save a lot of money with the help of tax credits regardless of the size of the tax liability or type of taxpayer.

David McMillian
 That was the consensus on the most recent episode of the “Commercial Real Estate Show” radio program, hosted by Michael Bull of Bull Realty. Bull and his guests David McMillian, president of McMillian & Associates, and Ricky Novak, CEO of Strategic 1031 Exchange Advisors, discussed tax credits and the importance of finding out what tax incentives are available for personal, business and real estate ventures.

 Tax credits for film companies are a growing trend that several states, including Georgia, North Carolina, Louisiana and Michigan, have embraced.

 “There’s been a tremendous push in Hollywood to build relationships in jurisdictions that are willing to give tax incentives,” Novak said. Atlanta, in particular, has been a hotbed for film production. Warner Bros. recently filmed “Fast & Furious 7” in the city and received a 30 percent tax credit, Novak said.

Ricky B. Novak
 Since Warner Bros. has no income tax liability in Georgia, the company is allowed to sell credits to local business owners or individual taxpayers.

 “You not only have the economic incentive of bringing those dollars to the state, but now you have a credit that can ultimately be sold back to taxpayers, to offset their income tax liability,” Novak said.

 Buying credits is one way businesses can grow their bottom line. The cost of purchasing a tax credit depends largely on the risk involved with the credit, Novak said. Guaranteed tax credits can trade as high as 90 cents on the dollar. Credits that carry more risk usually sell for a lower price, between 60 and 70 cents on the dollar.

Businesses should be mindful of how their practices and initiatives might yield tax advantages, McMillian said. 

“Companies at every level should look at what they can earn and normal activities they do that have the potential to create tax credit opportunities,” he added. States often offer credits for things such as adopting new software technology, developing new products and buying equipment.

 Business owners can earn tax credits for job creation, which are available at both the state and federal levels. “Georgia has seven different types of job-creation tax credits,” McMillian added. “If you are creating jobs, there’s usually an incentive no matter where you are.”

Federal tax incentives for hiring certain kinds of employees also are available. For example, companies hiring veterans or people in government assistance programs are eligible for tax credits, McMillian said.

 If you are interested in utilizing tax credits, the most important step is to do some research on the tax credits that suit you and engage a professional.

 “In some instances, whether it’s a state or federal benefit, the paperwork and processes are easy to follow, but that’s typically not the case,” Novak added.

Michael Bull
 “What you find is that generally whoever created the incentive makes it overly cumbersome to access that benefit so it’s important for taxpayers to work with experts to make sure they get the process right.”

 The entire show on tax credits is available for download at The next “Commercial Real Estate Show” will be available on Sept. 19 and will feature REIS’ view on real estate.

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

Stephen Ursery
The Wilbert Group


Avison Young completes land/property sale in Hollywood, CA for buyer, Avon Studio Transportation

956 Seward Street, Hollywood, CA

Martin McDermott

 Los Angeles, CA – Avison Young, the world’s fastest-growing commercial real estate services firm, announced today the sale of 956 Seward Street in Hollywood. The property consists of 1.29 acres of land and an historic, two-story, 41,000-square-foot (sf) film vault that will remain in operation.

 Avison Young Principal Martin McDermott, based in the company’s West Los Angeles office, represented the buyer, Avon Studio Transportation, which will use the site to enable its vehicles within Hollywood to serve clients more effectively and efficiently.

Supporting the entertainment industry for 36 years, Avon Studio Transportation boasts one of the largest independently owned and operated fleet of vehicles in Southern California and has locations in Hollywood, Beverly Hills and Santa Monica.

 The property was purchased from Editing Film Center and BENHAR Company, who had owned the property since it was built in 1952. The sellers were represented by Seth Stuart of Zurich Investment Company.

 “This transaction closed many years after the search for additional parking space began with my client,” comments McDermott, an expert in owner-user transactions.

“The challenge for Avon Studio Transportation’s specific requirement was that developers had pushed prices beyond what would work for owner-users prior to the economic downturn. 

"This property provided the ideal location and was also perfectly timed, as pricing is still favorable and we were able lock in an SBA loan at an interest rate below 4%.”

McDermott adds that Avison Young introduced Avon Studio to its lender on the property, Union Bank. A favorable SBA loan was secured before interest rates began to rise.

“About six years ago after an exhaustive search for a space in Hollywood, Martin identified a small parcel of land that was available.

" Interest rates were at 6% to 7% at that time and I was considering a very high price-per-square-foot for something less than ideal for my business needs because the market was so tight,” says Nelson Silver, founder/owner of Avon Studio Transportation.

 “After careful consideration, Martin and I elected to not settle. By waiting, we were ultimately able to achieve a much better deal all around with a considerably lower interest rate and about $100 less per square foot than the previous space. This Seward site is also the size I needed and is in the perfect location.”

 Silver added that there is currently some demolition occurring on the site, and plans for occupancy are anticipated for November 2013.

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

Darcie Giacchetto
D.G. Communications, Inc.

Crossman & Company Closes Sale of Northshore Town Center in Knoxville, TN


Northshore Town Center, Knoxville, TN
             ORLANDO, FL --   Senior Vice President John Zielinski along with Brian Carolan, Director at Crossman & Company, have sold Northshore Town Center, located in Knoxville, TN, to a private group.

John Zieleinski

  Built in 2012 on 9.21 acres, Northshore Town Center sold at an undisclosed amount in just about a year’s time.

The sale of the 78,306 square foot flagship, Publix-anchored site is the first of its kind to trade as no other hybrid Publix supermarkets have been obtainable for sale. CHM, LLC a prominent real estate development firm based in Knoxville, TN was the original developer for the center.

               Carolan stated that, “When Publix goes into a new market, I believe they only choose the best locations.”  It is also of note that Publix Super Markets, Inc. has been awarded as one of FORTUNE's "Most Admired Companies" from 1994 to present and has scored higher than any other supermarket for customer satisfaction in a national survey conducted by the American Customer Satisfaction Index since 1995.

Brian Carolan
                  “It has been a pleasure working with both the buyers and sellers on this transaction.  Publix at Northshore has been a success from day one and will continue to be a strong performing center for years to come.” said Zielinski. 

Northshore Town Center is a high-end, greatly sought after area.  This three phase mixed-use development includes a 5-acre lake, parks and more. In the next 5 years we expect to see the project complete with large national retailers and a significant footprint in the economic development in Knoxville.

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

Claire Pagán
Marketing Specialist | Crossman & Company
3333 S. Orange Ave. Suite 201 | Orlando, Florida 32806
407.423.5400 main | 407.581.6223 direct | 352.348.3066 cell | Web | Facebook

MBA Unveils New Brand Identity


WASHINGTON, D.C. (Sept. 18, 2013) –The Mortgage Bankers Association (MBA) today revealed a new brand identity, including a new logo, corporate messaging and web and email domains.

Debra W. Still
 MBA’s fresh look reflects a new and improved association identity and is designed to be more streamlined while leveraging the strength and meaning of the association’s acronym – MBA.

“This new brand reflects MBA’s forward looking approach, and brings us fully in step with who we are now, and where we will lead our industry into the future,” said MBA’s President and CEO David H. Stevens.

 “Our message behind the brand is simple: We put our members first. We are constantly evolving to better support and serve our members. We pull strength from the broad diversity of our membership – by bringing them together – in one voice with one vision – on behalf of a vibrant and sustainable real estate finance system.”

As the Mortgage Bankers Association is commonly referred to as MBA, the new logo uses this acronym but with the distinction of a capital “M”, “B” and lower-case “a”.

David H. Stevens
This approach also reinforces the association’s focus on the “Mortgage” “Banking” industry, and our commitment to the firms and individuals that MBA represents and supports 365 days a year. 

Without them, homeownership, as well as access to affordable rental properties, office space, community centers, hospitals and more, would be nothing more than a dream for all Americans. Mortgage Banking is critical not only to our economy, but to the everyday lives of the people it serves. And it’s what our members do best.

“Our new brand identity capitalizes on the strength and power of our acronym,” said Debra W. Still, CMB, MBA’s Chairman.  “The M-B-A letters define us. Our new logo clearly puts our identity in the spotlight. It allows us to boldly stand out in a complex industry, while making the most of MBA’s solid reputation as the strongest advocate for all members of real estate finance.”

Additionally, as part of the updated brand, MBA has a new domain name, as well as new email addresses, (instead of All staff members can be reached at these new email addresses.  Finally all phone and fax numbers will remain the same.

For a complete copy of the company’s news releases, please contact:
John Mechem
(202) 557-2924

The Chedi Andermatt debuts five-star contemporary design that embraces treasured Swiss traditions

The Chedi Andermatt Hotel, Andermatt, Switzerland

Andermatt, Switzerland -- Orascom Development is pleased to debut the design for The Chedi Andermatt, a luxurious 5-star contemporary hotel and residences development nestled in the quaint Alpine hamlet of Andermatt.

Jean Michel Gathy
With a sumptuous design by Jean Michel Gathy of Denniston International Architects that combines treasured traditions with innovative and modern architecture, The Chedi Andermatt is redefining luxury in the heart of the Swiss Alps.

 “We wanted to reanimate the heart of this village with something distinct, contemporary and luxurious that fit within the existing quaint scape of Andermatt and met strict environmental standards,” said Jean Michel Gathy, architect and principal with the renowned Denniston International Architects, which also developed the master plan for the new Andermatt Swiss Alps project and is also famous for their works for Aman resorts, One & Only, St. Regis and so on.

 “The design completely anticipates the needs of today’s luxury traveler, with innovative furnishings, natural materials and thoughtful amenities that are familiar and comfortable, yet luxurious and modern.”

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

Hwee Peng Yeo
Director of Asian Markets
Glodow Nead Communications
Level 21, Centennial Tower
3 Temasek Avenue
Singapore 039190

Chatham Lodging Trust Announces Key Joint Venture Transactions: Major Refinancing, Completion of Non-Core Asset Sales, Capital Distributions


PALM BEACH, FL —Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale extended-stay hotels and premium-branded select-service hotels, today announced several key events related to its 10.3 percent interest in a joint venture with affiliates of Cerberus Capital Management.  

Dennis M. Craven
The joint venture was formed to acquire most of the former Innkeepers USA Trust hotel portfolio out of bankruptcy in October 2011.  

The joint venture recently refinanced its existing debt with a new $950 million, non-recourse loan with JPMorgan Chase Bank, National Association. Collateralized by the remaining 51, core hotels in the Innkeepers portfolio, the new, five-year, interest only loan, which is comprised of a two-year loan with three, one-year extension options, carries an interest rate of one month LIBOR plus 480 basis points.

 The previous loans carried an average interest rate of approximately 6.74 percent. In connection with the loan closing, the joint venture pre-funded approximately $52 million of capital expenditures related to future renovations at the joint venture’s hotels and $5 million of other customary, lender required reserves.

“When the Innkeepers acquisition closed in late 2011, the joint venture assumed a $675 million, fixed rate, long-term loan, and we negotiated a key provision that allowed us to repay the loan anytime without prepayment penalty or defeasance,” said Dennis Craven, Chatham’s chief financial officer.

 “Since closing the Innkeepers acquisition, the value of the joint venture portfolio has risen significantly, and we were able to opportunistically refinance all of the joint venture’s $786 million of debt, reducing the joint venture’s interest costs by approximately $5.5 million per year based on current LIBOR rates, extending the maturity of the Innkeepers portfolio debt to 2018 and pre-funding a significant amount of capital expenditures.”
Jeffrey H. Fisher

“We seized upon the unique opportunity to acquire the Innkeepers portfolio at a great price, confirmed by the fact that the joint venture has returned approximately 90 percent of our original investment less than two years from acquisition,” highlighted Jeffrey H. Fisher, Chatham’s chief executive officer.

“We estimate the joint venture portfolio value today to be approximately $1.3 billion.  With industry experts predicting healthy RevPAR and earnings growth in the coming years, we are thrilled with the potential value of our promoted interest which we believe can increase our share of cash flow from the current 10.3 percent to more than 20 percent if certain returns are achieved.”
For a complete copy of the company’s news release, please contact:

Jerry Daly          
Daly Gray Public Relations                                                    
(703) 435-62

 Dennis Craven
Chief Financial Officer

 (561) 227-1386   

Marcus & Millichap Names Regional Managers in Phoenix, AZ and Salt Lake City, UT

Donald Morrow

 Donald Morrow is New Face in Phoenix

PHOENIX, Sept. 17, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Donald Morrow regional manager of its Phoenix office, according to John J. Kerin, president and chief executive officer.

“Donald’s many years of experience in leadership roles within the commercial real estate industry will make him an extremely valuable resource for our agents and clients,” says Kerin.

John J. Kerin
“He will strengthen our presence by recruiting experienced investment professionals to join our nucleus of agents in Phoenix and will expand our services to clients throughout the region.”

Prior to joining Marcus & Millichap, Morrow was with Grubb & Ellis Co. for 30 years as an agent, president of the western region and managing principal/partner for the firm’s Phoenix office.

Gary Mangum
Gary Mangum Oversees Salt Lake City Office

SALT LAKE CITY, Sept. 17, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Gary Mangum regional manager of its Salt Lake City office, according to John J. Kerin, president and chief executive officer.

“Gary has a great deal of experience and expertise both as a manager and as a commercial real estate investment professional,” says Kerin. “As regional manager, he will provide exceptional leadership and support to our agents in Salt Lake City and will expand our services to clients throughout the region.”

Prior to joining Marcus & Millichap, Mangum was partner and managing director with Synergy Real Estate Development, where he was responsible for overseeing the firm’s overall operations. Before that, he was the managing director and principal broker for the commercial real estate brokerage NAI West.

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

Gina Relva
Public Relations Manager

(925) 953-1716