Wednesday, June 18, 2014

Students/Parents Get Tips on Selecting Off-Campus Student Housing; The Preiss Company to Be Featured on Designing Spaces™

Donna Preiss

 RALEIGH, NC, June 18, 2014—The more than 17.7 million students who will attend college this fall will want to tune in to Designing Spaces, the signature home improvement television series on Lifetime® Television, Thursday, June 19, at 7:30  a.m. (ET/PT), to learn the latest insights and tips on what to expect in off-campus student housing. 

 The popular series will feature executives from The Preiss Company, one of the nation’s largest and fastest growing student housing owners, developers and managers.  The program segment was shot at the 288-bed University Village at 2505 in Raleigh, N.C., which serves North Carolina State University.

“Today’s students will have an entirely different housing experience than their parents,” said Donna Preiss, company founder and CEO.  “Student housing offers much better and more affordable accommodations with better amenities than most current on-campus housing.” 

Show host Erin Dangler opens the program with a discussion on student housing trends and how to select the perfect place with Preiss; Adam Byrley, vice president; and  Lauren Dalia, property manager of the Dail College Inn.  

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

Amy Barger,
 Vice President of Marketing
The Preiss Company
(919) 532-1114

Five Medical Office Buildings Sold in Second Quarter by John Smelter of Marcus & Millichap

John Smelter
SAN DIEGO, CA, June 18, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced that John Smelter, a senior director of the firm’s Healthcare Real Estate Group in San Diego, negotiated the sale of five medical office properties in locations across the country during the second quarter of 2014.

            “After a record-setting year in 2013 for medical office sales, many analysts predicted a slowdown in 2014,” says Smelter.

“While there has been a lessening in the volume of medical office property sales, especially between the record-setting fourth quarter of 2013 and the first quarter of 2014, demand for the product remains high and pricing continues to be strong.”

            “Changes in healthcare policy and demographic shifts will keep boosting demand for medical office space,” adds Smelter, “although investors must keep in mind that healthcare providers have to innovate in order to improve efficiency and profitability in the face of rising costs, an intensifying physician shortage, reduced reimbursements and elevated accountability.”

PinnacleHealth, Wormleysburg, PA
            Among Smelter’s sales in the second quarter were an on-campus single-tenant medical office building, an on-campus value-add two- property portfolio and a single-tenant two-property medical office portfolio, all of which closed in separate transactions.

            In Berwyn, Ill., Smelter arranged the sale of the 42,779-square-foot Berwyn Medical Center for $11,000,000. 

This single-tenant property, leased to Tenet Healthcare Corp., is situated directly across from the Tenet MacNeal Hospital.

 In Wormleysburg and Carlisle, Pa., he arranged the sale of the 40,485-square-foot, two-building, single-tenant PinnacleHealth Portfolio for the buyer, Physicians Realty Trust, for $9,208,000. 

Benjamin Appel, an associate director of Marcus & Millichap’s National Office and Industrial Properties Group (NOIPG), and Erik Gainor, an NOIPG director, both in the firm’s Philadelphia office, acted on behalf of the seller as list-side advisors.

            In San Diego, Calif., Smelter arranged the $14,250,000  sale of the 107,330-square-foot two-building Alvarado Portfolio, which was jointly owned by ScanlanKemperBard Companies and the Praedium Group, to Reddy Development.

            At the end of the first quarter, Smelter also represented ScanlanKemperBard and the Praedium Group in the sale of the 38,315-square-foot Lakewood Medical Building in Lakewood, Calif., for $5,025,000 to a private party.

            Michael Lawrence, a senior vice president investments in Marcus & Millichap’s Newport Beach office, provided additional representation on the Alvarado Portfolio and Lakewood Medical Building transactions. First vice president John Przybyla is the firm’s broker of record in Illinois.

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

Gina Relva
Public Relations Manager
(925) 953-1716

Global Hotelier, Abdul Suleman, Awarded 2014 Ellis Island Medal of Honor


Abdul M. Suleman
 NEW YORK, NY and SAN FRANCISCO, CA, June 18, 2014—Global hotelier Abdul M. Suleman, founder and CEO of San Francisco-headquartered Equinox Hospitality Group ( and former senior vice president of Hyatt Hotels Corporation, has been awarded the 2014 Ellis Island Medal of Honor by the National Ethnic Coalition of Organizations (NECO).

Muhammad Ali
               Suleman received the Ellis Island Medal of Honor at a gala event held in the Great Hall on Ellis Island. 

The award pays homage to the immigrant experience, honoring not only individuals, but the pluralism and democracy that have enabled ancestry groups to maintain their identities while becoming integral parts of the American way of life.

 The medals are awarded to native-born and naturalized U.S. citizens from various ethnic backgrounds.

Frank Sinatra
Past medalists include U.S. presidents, Noble Prize winners and leaders of industry, education, the arts, sports and government, including  Presidents Gerald Ford, Jimmy Carter, Ronald Reagan, Bill Clinton and George H.W. Bush, United Kingdom Prime Minister Tony Blair, Henry Kissinger, Frank Sinatra, Muhammad Ali, Bob Hope, and Lee Iacocca.  Suleman is the only hotelier honored this year.

Suleman migrated to the U.S. to attend Brigham Young University in the late 1960s.  He entered the hotel industry more than 30 years ago, starting from a front desk position, yet rising through the ranks of Hyatt Hotels Corporation to senior vice president.

Bob Hope
 In 1994 he left Hyatt and founded Equinox Hospitality. Equinox owns, develops, repositions, operates, and asset manages hotels globally.

 In addition to the company owning and operating their own hotels, Equinox is currently an adviser on the world’s largest hotel development project currently underway in Makkah (Mecca), Saudi Arabia. 

This one-of-a-kind development consists of 36 high-rise buildings, representing 26 upscale hotel brands and totaling 11,535 keys, with multiple food & beverage facilities.

For more information about Suleman, please visit

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

Jerry Daly
Daly Gray
(703) 435-6293                                                            

MHA Brokers Apartment Sales Totaling 426 Units in Georgia and South Carolina

Lauarel Ridge apartments, Athens, GA

ATHENS, GA, and NORTH AUGUSTA, S.C. (June 18, 2014) — Multi Housing Advisors (MHA) has arranged the separate sales of the 294-unit Laurel Ridge in Athens, Georgia, and the 132-unit Savannah Oaks in North Augusta, South Carolina.

 “These sales represent the recent trends of private capital owner-operators purchasing value-add opportunities in the multifamily sector,” said Robert Stickel, a managing director in MHA’s Atlanta office.

 Stickel represented Juniper Investment Group in the sale of Laurel Ridge. The property, which was constructed in 1968, is located at 195 Epps Bridge Road in Athens. Amenities include a clubhouse, clothes care center, fitness center and swimming pool. New York-based Benchmark Group purchased the property.

Savannah Oaks apartments, North Augusta, SC
 Stickel also represented QR Capital in the sale of Savannah Oaks. Built in 1976, the property is located at 1402 Groves Blvd. in North Augusta. Amenities include a swimming pool, laundry facilities and a playground. California-based Brandenburg Properties acquired the property.

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

Stephen Ursery
The Wilbert Group
404-549-7150 (O)
 404-405-2354 (C)

Englewood Construction Retail Group Announces Three New Projects

William Di Santo
CHICAGO, IL (June 18, 2014) – Englewood Construction, one of the country’s leading commercial construction firms, has announced its retail group has recently completed an interior build-out for Chicago Cruise Lines and begun work on two new projects, including an American Girl Store in Orlando, Fla.

 “As consumers gain confidence and the economy continues to improve, we have seen a willingness for retailers to take on ground-up developments and substantial expansions,” said William Di Santo, president of Lemont, Ill.-based Englewood Construction.

 “There is a lot of pent-up demand in the market and healthy retailers are finding this is the right time to embark on new projects.”

“The partnership between American Girl and Englewood continues to flourish as we expand the brand to new markets,” said Di Santo. “Working with a client across multiple projects and markets helps build trust and familiarity. This is our ninth development with American Girl and we always find that the process seems to improve with each new development.”

 The Orlando store is the second American Girl Englewood has constructed in Florida. In 2012, Englewood completed an American Girl at The Falls in Miami.

 In the Chicago area, Englewood has begun work on a ground-up store for Goodwill in the southwest suburbs and completed an interior build-out for Chicago Line Cruises in the redevelopment of the former River East Art Center in downtown Chicago.
For a complete copy of the company’s news release, please contact:

Mark Thomton,, 312-267-4523

George Smith Partners Secures Pre-Development Financing for Full City Block of Downtown San Diego, CA

LOS ANGELES, CA (June 18, 2014) – Commercial real estate investment banking firm George Smith Partners has successfully arranged $12.7 million in pre-development financing on behalf of its client, San Diego-based Zephyr Partners, who will develop a full city block in downtown San Diego, Calif.

The development is planned to include two 32-story towers comprised of both residential and retail space, according to George Smith Partners’ Principal Malcolm Davies.

 “This development site is downtown San Diego’s largest land acquisition this year, and is poised to be one of the first downtown condo projects to move forward to construction,” explained Davies.

Malcolm Davies
Zephyr Partners acquired the full city block property located between Seventh Avenue, Eighth Avenue, Broadway and C Street, for $21.1 million on Friday, June 13, according to Davies.

“The site is located in a fantastic sector of downtown that is well-positioned for redevelopment,” noted Davies. 

Upon completion, the development is planned to consist of 700 residential units and 60,000 square feet of anchored retail space. A leased in-line retail center currently occupies the site, and Davies noted that the land is not yet fully entitled.

“Obtaining financing for a development that does not yet have final entitlements in place presented a challenge for our team,” explained Davies. 

  “To combat this issue, we worked to educate lenders regarding downtown San Diego’s master EIR and Zephyr Partners’ vast experience in San Diego developments, demonstrating the firm’s strength as both a borrower and a developer.”

According to Davies, Zephyr Partners has developed numerous San Diego residential projects in recent years, including single family homes, condominium projects, and multifamily communities.

“Drawing upon our extensive network of lenders, we were able to identify a lender who understood the value of and demand for a development of this magnitude in downtown San Diego, and was willing to provide financing even in the absence of final entitlements,” he explained.

George Smith Partners arranged an interest-only loan with a large interest reserve, priced at 6.5 percent for two years with a one year extension.

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

Corynne Randel/ Jenn Quader
Brower, Miller & Cole
(949) 955-7940

Regency Centers Announces New Tenants to 4S Commons Town Center in San Diego, CA

SAN DIEGO, CA, June 18, 2014 --(BUSINESS WIRE)-- While many might not be familiar with the 4S Ranch area, those in the San Diego community know it as one of the fastest developing and expansive communities in the county.

Serving this region is 4S Commons Town Center, who will be introducing new entries to the trade area. Regency Centers (NYSE:REG) is welcoming ULTA and 18|8 to the affluent area, and the city-at-large.

“We are very proud of the design and merchandising mix at 4S,” said Omar Hussein, Senior Leasing Agent at Regency Centers.

Omar Hussein
 “It sits within a vibrant master-planned community where residents are engaged in the retail environment. We’ve hand-selected and partnered with select retail tenants and restaurants to ensure that the daily needs and specialty services are provided to the consumers.”

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

Regency Centers Corporation
Eric Davidson, 904-598-7829
Communication Manager