Saturday, November 2, 2013

$4.4 Million Sale of 20-Unit Apartment Building in Miami Beach, FL Brokered by Marcus & Millichap

850 Meridian Avenue apartments, Miami Beach, FL

MIAMI BEACH, FL, Nov. 2, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of a 20-unit, condominium-quality apartment property located in Miami Beach, FL.

Arthur D. Porosoff
 The asset sold for $4,400,000 representing $220,000 per unit and $349 per square foot.

The seller of the property, a developer based in Portugal, was represented by Arthur D. Porosoff, a Vice President Investments in Marcus & Millichap’s Miami office.

“This deal marks one of the highest price-per-unit transactions in the South Beach market and is evident of the increased demand from foreign - and domestic investors alike - for condominium-quality assets renting as apartments,” says Porosoff.

“This was a great opportunity for the buyer to earn a solid return with complete ease of management.  Due to the lack of renovated product in the market, the investor will have the opportunity to increase rents as leases expire.”

The 850 Meridian project commenced with just the non-demolishable, historic art deco concrete block shell. The interior finishes include modern kitchens, hardwood floors and updated modern bathrooms. The property is located steps from Lincoln Road, Ocean Drive and Espanola Way at 850 Meridian Avenue in Miami Beach, FL.

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

Kirk A. Felici
First Vice President/Regional Manager
 Miami, FL
(786) 522-7000

Regency Centers Reports Third Quarter Results

JACKSONVILLE, FL--(BUSINESS WIRE)-- Regency Centers Corporation (“Regency” or the “Company”) (NYSE: REG) announced financial and operating results for the three and nine months ended September 30, 2013.


Regency reported Core Funds From Operations (“Core FFO”) for the third quarter of $60.2 million, or $0.65 per diluted share, compared to $55.6 million, or $0.62 per diluted share, for the same period in 2012. For the nine months ended September 30, 2013 Core FFO was $180.3 million, or $1.97 per diluted share, compared to $174.3 million, or $1.94 per diluted share, for the same period in 2012.

Funds From Operations (“FFO”) for the third quarter was $60.4 million, or $0.65 per diluted share. For the same period in 2012, the Company reported FFO of $52.0 million, or $0.58 per diluted share. 

For the nine months ended September 30, 2013 FFO was $180.4 million, or $1.97 per diluted share, compared to $163.2 million, or $1.81 per diluted share, for the same period in 2012.

Regency reported net income attributable to common stockholders (“Net Income”) for the third quarter of $35.0 million, or $0.38 per diluted share, compared to net income of $11.6 million, or $0.13 per diluted share, for the same period in 2012. 

For the nine months ended September 30, 2013 Net Income was $82.4 million, or $0.90 per diluted share, compared to $30.5 million, or $0.34 per diluted share for the same period in 2012.

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

Regency Centers Corporation
Patrick Johnson, 904-598-7422

Aventura Optima Plaza in Aventura, FL Welcomes its First Tenants

Aventura Optima Plaza, 215000 Biscayne Boulevard, Aventura, FL

MIAMI, FL- Colliers International South Florida is pleased to announce that Aventura Optima Plaza, a 114,000-square-foot Class A office and medical complex located at 21500 Biscayne Boulevard, Aventura, has been granted a temporary certificate of occupancy and is welcoming its first tenants.

Randy Olen
Colliers International South Florida's Executive Vice President Randy Olen, exclusively represents the Aventura Optima complex, which is on track to be only the second high-rise office building in Florida to be certified LEED Platinum, and the first in Aventura.

 "The internationally-recognized distinction of excellence in sustainability is a plus for the building's owners, and for those who will occupy it," said Olen.
The new project's first tenants are a mix of local and international firms including KAWA Capital Management, Inc. which recently signed a seven-year lease for the entire seventh floor (11,400 square feet).

Steven Hurwitz
The tenant was represented by Steven Hurwitz of CREC. KAWA Capital Management will join The Bloom Organization, already an occupant, along with Morales Law Group, Nexsys International, L.C. and Dolce Living Investments, LLC.

These tenants signed leases earlier this year and are expected to move in during the next several months. Olen expects to finalize lease agreements with three additional prospective tenants for a total of approximately 20,000 square feet during the fourth quarter.
Aventura Optima Plaza consists of a nine-story east tower fronting Biscayne Boulevard, a four-story west building, and a 457-space parking structure that links the two with a 20,000-square foot landscaped jogging trail on the roof.
Developers Jose Bromberg and Ariel Bromberg of Inmobiliaria Brom have built multiple upscale buildings in their native Mexico. Arquitectos Brom Asociados designed the $35 million Aventura Optima Plaza project in association with Behar Font Partners of Coral Gables. The project features a sophisticated, eco-friendly design with access from Biscayne Boulevard and convenient drop-off areas at both the east and west building entrances.

"We decided to come to South Florida, and bring our investors to Florida, to start developing cutting-edge buildings, where quality would be a main issue," Ariel Bromberg said in an interview.

 "We think building sustainable projects is the only way to go, not just because we are environmentally conscious, but because we believe corporations are looking for that."
The building is the first in South Florida to have a double skin fa├žade, with special hurricane proof glazing. The southern side of the building will feature solar panels that are decorative and produce 48KV of electricity daily.

A 20,000-square foot landscaped "green roof" will top the garage building, with a jogging trail, exercise rooms, juice bar and restrooms. A terrace on the fifth level of the garage structure connects the two buildings and features fountains and reclaimed wood decks with landscaped seating areas.
"Prospective tenants are impressed with the project's environmentally conscious design, the quality of construction and overall amenities available at Aventura Optima Plaza," said Olen.

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

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

Chatham Lodging Acquires Residence Inn in Downtown Bellevue, WA

Residence Inn by Marriott Seattle Bellevue/Downtown Hotel, Bellevue, WA

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 that it has acquired the 231-room Residence Inn by Marriott Seattle Bellevue/Downtown for a net cash purchase price of $71.8 million, plus customary, pro-rated amounts and closing costs. 

Jeffrey H. Fisher
The purchase price represents a forward twelve month capitalization rate of approximately 7.8 percent on the hotel’s projected net operating income.  

Year to date through September 30, 2013, RevPAR at the Bellevue hotel is up 13% to $131.

The urban, mid-high rise hotel opened in 2008 and is situated along Interstate 405 (the area’s primary corridor), providing immediate access to downtown Bellevue’s 7.5 million square feet of Class “A” office space inventory, including the region’s high concentration of top-tier technology and telecommunications firms, such as Microsoft, Amazon, Expedia, T-Mobile and AT&T.

Peter Willis
The Bellevue market has undergone a major transformation over the past ten plus years into a premier, 24-hour, live-work-play environment.

“We are very excited to acquire one of the highest rated hotels in the Residence Inn by Marriott system, a superior quality property on an urban, infill site in one of the most desirable west coast corporate markets,” said Jeffrey H. Fisher, Chatham’s chief executive officer. 

“This hotel aligns perfectly with our strategy of acquiring coastal area hotels where demand is driven primarily by corporate travelers focused in the ever-growing technology, energy or medical sectors.”

“The Seattle/Bellevue market has been on our radar for some time given our deep understanding of the market and its growth prospects based on our many years of experience in the Seattle market, including the Bellevue market, through our ownership of four Residence Inns in the Innkeepers joint venture and Island Hospitality’s operation of the hotels,” says Peter Willis, Chatham’s chief investment officer.

“It is a competitive advantage for Chatham to be able to leverage Island’s knowledge of a market and diligently assess an acquisition. 

"We expect great returns from this hotel. We have a very active and deep pipeline of prospective targets and intend to use capacity on our balance sheet to acquire hotels that meet our strict underwriting criteria.”

The Residence Inn by Marriott Seattle Bellevue/Downtown is managed by Island Hospitality Management (IHM), which is 90 percent owned by Mr. Fisher. Chatham funded the purchase with available cash and borrowings on its secured revolving credit facility of $59 million.

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

 Jerry Daly                                                                                   
Daly Gray Public Relations                                                   
(703) 435-6293                                                                           

Dennis Craven                       
Chief Financial Officer
(561) 227-1386  

HFF secures $43 million refinancing for grocery-anchored retail centers in Pacific Northwest

IRVINE, CA – HFF announced it has secured a $43 million refinancing for Fairwood Shopping Center and Oswego Village Center, grocery-anchored, community shopping centers in Renton, Washington and Lake Oswego, Oregon.

Fairwood Shopping Center, 14060 SE Petrovitsky Road
Renton, WA
               Working on behalf of the borrower, Terramar Retail Centers, HFF placed the 10-year, fixed-rate loan with Prudential Mortgage Capital Company.  Loan proceeds were used to refinance existing loans on the properties.

 HFF was able to secure a forward rate lock in May 2013 and the loan closed when the existing debt was open for prepayment in October.  

As a result of the increase in the treasury rates between May and October, the rate is well below the current market level.

Don Curtis
               Fairwood Shopping Center is located at 14060 SE Petrovitsky Road close to Interstate 405 about 12 miles southeast of downtown Seattle.  The 214,834-square-foot center is anchored by Safeway and is 90.4 percent leased.  Additional tenants include a new LA Fitness and Ace Hardware.

               Oswego Village Center is located at 101 South State Street about seven miles south of downtown Portland.  The 89.1 percent leased property has 86,416 square feet and is anchored by Albertsons and Ace Hardware.

               The HFF team representing Terramar Retail Centers was led by senior managing director Don Curtis and associate director Greg Brown.

Greg Brown
               Terramar Retail Centers is a privately-held commercial investment, management and development company.  Founded in 1996, the company has acquired, managed and leased more than 6.5 million square feet of retail shopping centers and has entitled more than one million square feet of development projects.

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

HFF closes sale of a luxury multi-housing property in Philadelphia

The Granary apartments, Philadelphia, PA

Philadelphia Chef Marc Vetri
NEW YORK, NY – HFF announced it has closed the sale of The Granary, a recently completed, luxury mid-rise multi-housing property in Center City, Philadelphia.

HFF marketed the property on behalf of the seller, Pearl Properties.  Lowe Enterprises Investors purchased the property on behalf of one of its investment clients.

The Granary consists of 229 one- and two-bedroom apartment homes averaging 895 square feet each, 21,637 square feet of ground-level retail space and underground parking. 

Community amenities include a lobby/lounge, fitness center, library/music room, club room with terrace, business center, on-site concierge and full-time doorman. 

Jose Cruz
The Granary’s street level shops offer a mix of national and local retailers including Petco and Pizzeria Vetri, the newest restaurant by local chef Marc Vetri, which opened in October.  GNC, Whirled Peace Frozen Yogurt and Gyu-Kaku will follow during the next several months.

Andrew Scandalios
The Granary is located at 20th and Callowhill Streets proximate to mass transit and highway access and within walking distance of the city’s core office market. 

The Granary is also proximate to a wide variety of cultural, retail and entertainment venues, with The Barnes Museum, Whole Foods and Starbucks immediately adjacent to the property.

Jeff Julien
The HFF team representing Pearl Properties was led by senior managing directors Jose Cruz and Andrew Scandalios and managing directors Jeff Julien and Kevin O’Hearn.  HFF managing director Jim Cadranell previously arranged construction financing for the property in 2012. 

Kevin O'Hearn
Additionally, John Gaghan of Lowe Enterprises Investors’ Philadelphia office led the firm’s acquisition team and Jeff Heath of Berkadia Commercial Mortgage sourced the debt. 

Lowe Enterprises Investors has retained Greystar as property manager for The Granary.

“The property is considered one of the most luxurious rentals in Philadelphia,” said Cruz.  “The Granary offers an excellent location, modern amenities and superior finishes to appeal to renters seeking a luxury residence in the heart of Philadelphia.”

Jim Cadranell

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

Trepp Reports US CMBS Delinquency Rate Breaks 8% Threshold, Gains to Continue in 2013

Joe McBride
NEW YORK, NY -Trepp, LLC, the leading provider of information, analytics and technology to the CMBS, commercial real estate, and banking markets, released its October 2013 US CMBS Delinquency Report today (available at

 For the first time since early 2010, the Trepp CMBS delinquency rate fell below the 8% level. October’s decrease marks the fifth consecutive month of rate improvement.

The rate dropped 16 basis points over the course of the month, bringing the 30+ day delinquency rate for US commercial real estate loans in CMBS to 7.98%. The percentage of loans seriously delinquent is now 7.69%

“The government may have shut down this month, but special servicers took no time off,” said Joe McBride, a Research Analyst at Trepp. “Almost $1 billion in CMBS loans were disposed with losses in October, as servicers continue to work through troubled loans, especially in the retail sector. Much of the improvement in the retail delinquency rate comes from this ‘cleaning out’ of the distressed pipeline.”

Manus Clancy
 While 2013 is almost over, Trepp expects to see more improvement in the rate before year-end. CWCapital’s impending sale of more than $2.5 billion of distressed assets could result in a 50-basis-point decrease, assuming the sales close prior to the December remittance cycle.

 “In addition to the distressed assets that were recently identified for sale, a large number of note sales are also expected from the servicer,” said Manus Clancy, Senior Managing Director of Trepp.

 “As CW stated that it is looking to sell these before year-end, this could result in the removal of a number of loans from the delinquent category over the next 60 days.”

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

Eric R. Gerard
Senior Vice President
Great Ink Communications
27 Union Square West, Suite 205
New York, NY 10001
(212) 741-2977

Fed Shutdown Triggers Tightened Mortgage Spreads and Lower Rates

Jeanne Peck
Chicago, IL – The Real Estate Capital Institute reports the federal government shutdown resulted in another month of tightening mortgage spreads and lower rates. Loans are dipping below 5% for longer-term leverage on a more regular basis.

Funding sources scramble to identify attractive yields with lower risk profiles, but the dearth of capital leads to tremendous competition as noted by the following:

1.    Overall permanent mortgage rates start in the lower 4% range for 10 year funds, and about a percent lower for shorter-term five year funds. Such rates are about a quarter percent lower than the end of summer.

2.    Although overall rates are steady, spreads tightened by about 10 basis points for premier quality assets.

3.    More lenders are venturing into non-conventional property types, especially hotels, student housing, self-storage, etc. In many cases, these properties are now being reclassified as "conventional", especially for lower leverage financing which is often as competitive as for conventional assets.

4.    As a permanent loan arena is very crowded, more bridge lenders appear in the marketplace, particularly Wall Street and credit companies regularly competing with banks for such debt.

5.    Leverage rising for adjustable-rate mortgages and lenders tried to provide floors of 4% for ten-year debt on both fixed and floating rate product.

6.    Equity funds expanding into single family home development as housing prices rebound in many parts of the country.

7.    Class A, suburban office buildings gain more investor attention for both debt and equity as too many players are crowded out of the multifamily, retail and industrial sectors due to very low yields.

According to the Real Estate Capital Institute's Jeanne Peck notes,
"Borrowers are enjoying a resurgence of lower rates versus a midyear spike".

She suggests, "Now is as good a time as any to take advantage of low fixed rates and flexible floating-rate deals as lenders offer more leverage than in the past. It feels like 2003 to 2005 again".

The Real Estate Capital Institute(r) is a volunteer-based research organization that tracks realty rates data for debt and equity yields.  The Institute posts daily and historical benchmark rates including treasuries, bank prime and LIBOR. 

 Furthermore, call the Real Estate Capital RateLine at 7RE-CAPITAL (773-227-4825) for hourly rate updates.

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

The   Real Estate Capital Institute(r)
3517 West Arthington Street
Chicago, Illinois USA 60624
Contact: Jeanne Peck, Executive Director

Related Midwest Announces Topping Off of 111 West Wacker along Chicago River in Chicago, IL

111 West Wacker Drive apartment tower, Chicago, IL

CHICAGO, IL– Related Midwest announced today the much-anticipated topping off of 111 West Wacker Drive, the developer’s new 60-story iconic apartment tower that will open at Wacker and Clark Street along the Chicago River in 2014.

Curt Bailey
 The topping off marks the most recent milestone in Related Midwest’s redevelopment of the high-profile site, which was originally planned as the home of the Waterview Tower and planned Shangri-La Hotel and luxury condominiums.

 Construction under the site’s original developer reached the 28th floor before stalling in 2008. Related Midwest acquired the site through the Related Real Estate Recovery Fund in 2011 and resumed construction on the concrete shell in October 2012. 

Chicago Night Skyline
“This has been one of Chicago’s most-watched development sites in recent history,” said Curt Bailey, president of Related Midwest. 

“We know Chicagoans have been extremely interested in the progress, which is why their support and anticipation for its opening next year makes the building’s topping off today even more special – and not just for us, but for the city.

“We’ve worked hard to create a building that pays tribute to such an unparalleled location in a city known for world-class architecture,” Bailey continued. “As we near completion, it is incredibly exciting to see the design unfold and witness 111 West Wacker taking its place in Chicago’s skyline.”

When complete, 111 West Wacker will feature 504 luxury apartments offering a best-in-class residential experience encompassing exclusive designer finishes, a full floor of exceptional amenities, a suite of hotel-level services, and a premier location overlooking the Chicago River and bridging the Loop business district and River North neighborhood.

Chicago's South Loop District
The building will offer studios, convertibles, and one-, two- and three-bedroom residences including penthouses. First move-ins are slated for summer 2014.

Related Midwest has assembled an elite team of partners for the project including Lend Lease U.S. Construction, New York-based architect Handel Architects and Chicago-based Kara Mann Design (KMD). The building is expected to achieve LEED Silver certification.

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

Sarah Lyons,, (312) 267-4520
Kim Manning,, (312) 267-4527

Avison Young completes $8-million sale of Montclair Business Center in Montclair, CA

Montclair Business Center, 4650 Arrow Highway, Montclair, CA

Los Angeles, CA – Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has completed the $8-million sale of Montclair Business Center, a seven-building light industrial, office and showroom business park totaling 96,384 square feet (sf) on 4.35 acres.

Alan Pekarcik
Built in 1980, the center is located at 4650 Arrow Highway in Montclair, CA.

 Avison Young Principals Alan Pekarcik and Dan Vittone, based in the company’s Irvine, CA office, represented the seller, MNW Essex Montclair LLC, as well as the buyer, Holualoa Montclair Business Center, LLC. The transaction closed at a 6.01% capitalization rate and sold for $83 per square foot.

 “Montclair Business Center offered the buyer an excellent, stable investment with a value-add opportunity for rental growth and increasing the center’s occupancy,” comments Pekarcik.

Dan Vittone
“Also, the asset is located just west of the North Montclair Downtown Redevelopment Area, a major redevelopment zone between the Montclair Transcenter and the Montclair Plaza regional shopping center that will provide even more opportunities as the market grows.”

 The property, which consists entirely of single-story, multi-tenant buildings, is 83% leased. Montclair Business Center features 660 feet of street-front exposure on the north side of Arrow Highway, a major thoroughfare of Montclair and neighboring cities that boasts a traffic count of 19,000 cars per day.

The project is located about one mile north of the San Bernardino (10) Freeway and about two miles south of the Foothill (210) Freeway, offering easy access to the Orange (57), Ontario (15) and Chino Valley (71) Freeways.

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

Darcie Giacchetto
D.G. Communications, Inc.


NAI Realvest Negotiates Sale of Industrial facility in Sanford, FL for $3 Million

Aarial of warehouse and distribution facility, 1201 Cornwall Road, Sanford, FL

George Livingston
 ORLANDO, FL – NAI Realvest recently negotiated the $3,000,000 sale price for a 242,000 square foot warehouse and distribution facility at 1201 Cornwall Rd. in Sanford.

 NAI Realvest chairman George Livingston, principal Christie Alexander, broker associate Drew Saphos, CCIM, and associate Paul Vera represented the seller, Lake Mary Industrial Partners, LLC of Columbus, Ohio.

 The industrial property, with building built in 1981, was acquired by 1201 Cornwall, LLC, represented by Colliers International.

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

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

Cousins Reports Results for the Third Quarter of 2013

Greenway Plaza, Houston, TX

ATLANTA, GA--Cousins Properties Incorporated (NYSE:CUZ):

Larry Gellerstedt
  • Transaction Activity

  •  Acquired Greenway Plaza, a 4.3 million square-foot, 10 building office portfolio in Houston, Texas, and 777 Main, a 980,000 square-foot office tower in Fort Worth, Texas. Total purchase price for these assets was $1.1 billion.
  • Completed a public offering of 69 million shares of common stock at $10.00 per share, generating net proceeds of $661.3 million.
  • Sold Tiffany Springs MarketCenter for $53.5 million, generating a gain of $3.7 million.
  • Sold the Company’s interest in CP Venture Two LLC and CP Venture Five LLC in a transaction that valued its interest at $57.4 million prior to allocation of property level debt, generating a gain of $37.0 million.
  • Sold the Company’s interest in CF Murfreesboro Associates in a transaction that valued its interest in The Avenue Murfreesboro at $82.0 million prior to allocation of property level debt, generating a gain of $23.5 million.

Tiffany Springs Market Center, Kansas City, MO

  • Closed a non-recourse mortgage loan on Promenade with a principal balance of $114.0 million, a fixed interest rate of 4.27%, and a term of 9 years.

  • Closed a non-recourse mortgage loan on Post Oak Central with a principal balance of $188.8 million, a fixed interest rate of 4.26%, and a term of 7 years.
Subsequent to quarter end, the Company formed EP II LLC, an unconsolidated joint venture, for the purpose of developing and operating the second phase of the Emory Point mixed-use property in Atlanta, Georgia. 

The second phase will consist of 307 apartments and 43,000 square feet of retail space with a total projected cost of $73.3 million.

“The team has worked extremely hard over the past 24 months to transform the company,” said Larry Gellerstedt, President and Chief Executive Officer of Cousins.

777 Main office tower, Fort Worth, TX
“This quarter marked an inflection point in that transformation, with a compelling portfolio acquisition in Texas - the largest in our history - and the disposition of our lifestyle and power center holdings. 

"With significant value creation opportunities in our existing portfolio and in the development pipeline, we are well positioned for a strong 2014.”

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

Cousins Properties Incorporated
Gregg D. Adzema, 404-407-1116
Executive Vice President and
Chief Financial Officer
Cameron Golden, 404-407-1984
Vice President, Investor Relations and
Corporate Communications

Snyder Langston Expands Healthcare Division Naming Lee Watkins as Vice President

File photo of medical office building California--not associated with Snyder Langston

Lee Watkins
IRVINE, CA-- Snyder Langston, one of Southern California’s largest and most respected builders, is proud to announce the expansion of its healthcare division naming Lee Watkins as Vice President. Watkins will focus on growth in the health systems sector of Snyder Langston’s work.

“Snyder Langston’s goal is to continually expand and enhance our leadership to be at the forefront of our clients’ building needs. Expanding our healthcare team with proven talent is another step we are taking to raise the bar in this very important property sector,” said Stephen Jones, Chairman / CEO with Snyder Langston.

Lee Watkins brings 13 years of construction experience to his role with Snyder Langston, with the past seven years dedicated exclusively to healthcare construction. 

Stephen Jones
He brings a track record for successful project deliveries and solid client relationships to the firm along with an in-depth knowledge of systems and overcoming the challenges commonly encountered in healthcare construction. His client experience includes: Kaiser Permanente, Cedars-Sinai Medical Center, Providence Health System, among others.

“Joining Snyder Langston provides me with the opportunity to help grow the firm’s already successful healthcare unit,” said Watkins. “My desire to provide high quality, strategic and client-focused product was a perfect fit with its corporate culture and values.”

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