Thursday, June 19, 2014

10.6 Million Housing Units in Counties with Very High Natural Disaster Risk According to New RealtyTrac Report

Daren Blomquist
IRVINE, CA  — RealtyTrac® (, the nation’s leading source for comprehensive housing data, today released its first-ever Natural Disaster Housing Risk Report, which assigns a natural disaster risk score to more than 3,000 county housing markets nationwide.

Scores assigned to each county’s housing market were based on risk data for three natural disaster events — hurricanes, tornados and earthquakes — and each county was assigned to one of five risk categories based on their score: Very High Risk, High Risk, Medium Risk, Low Risk, and Very Low Risk.

“The potential risk of a natural disaster may not be the first item on most homebuyer checklists for a dream home, but prudent buyers will certainly take this into consideration along with myriad other factors that could affect home value,” said Daren Blomquist, vice president at RealtyTrac.

“In the past natural disaster data was technically available, but difficult for buyers and homeowners to dig up; however, now the data is readily available online for virtually any U.S. property, and buyers should take advantage of this.”

Blomquist noted that users can view natural hazard risk data for 110 million property addresses nationwide by simply typing in the address at RealtyTrac-powered (no subscription required).

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

Jennifer von Pohlmann
PR Manager
Office: 949.502.8300 ext 139

HFF closes sale of Holiday Inn Resort Lake Buena Vista in Orlando, FL

Holiday Inn Resort Lake Buena Vista, FL
ORLANDO, FL – HFF announced today that it has closed the sale of the Holiday Inn Resort Lake Buena Vista, a 503-room hotel in Orlando, Florida.

               HFF marketed the property on behalf of the seller, Vista Hospitality Company.  ROCH Capital purchased the asset free and clear of debt.  

According to RCA (Real Capital Analytics), this is the largest hotel sale brokered in Orlando in 2014.  Portfolio Hotels is going to be managing the asset on behalf of ROCH Capital.

The hotel is part of a three-property portfolio HFF is marketing on behalf of Vista that also includes the Crowne Plaza Orlando Downtown (on the market) and the Holiday Inn Express & Suites Fort Lauderdale (closed in March). 

Michael Weinberg
               The Holiday Inn Resort Lake Buena Vista, a Walt Disney Good Neighbor Hotel, is located at 13351 S. Apopka Vineland Road proximate to Walt Disney World Resort and the Orlando International Airport. 

Significantly renovated in 2012, the property includes a mix of suites including a presidential, kids and junior suites, as well as spacious traditional guest rooms. 

The hotel features 7,000 square feet of meeting space, a resort-style outdoor swimming pool, a new Applebee’s Neighborhood Grill & Bar, as well as a fitness center, basketball court, children’s club, gift shop and business center. 

               The HFF investment sales team representing the seller was led by director Michael Weinberg along with director Max Comess.

“The seller underwent a massive renovation to convert this asset from exterior to interior corridors.  This process was unique and gave them a product offering that exceeds the expectations of guests with oversized rooms relative to the competition.  Customers love it!” said Weinberg. 

Max Comess
“We are seeing a tremendous amount of debt and equity capital pour into the hospitality sector.  There just isn’t enough supply of transactions on the market to meet the demand which is creating competition from buyers and lenders,” added Weinberg.

               HFF’s Hotel Group has been active in the sale and financing of similar upscale hotels across the country.  In the last 24 months, the firm financed or sold more than $1 billion of hospitality properties in Florida.

               With offices in Kitchener, Ontario and Binghamton, New York, the Vista Hospitality Group owns and operates hotels, resorts and other commercial properties throughout Ontario, Quebec, New York, South Carolina and Florida.  

Offering more than 2,700 rooms, Vista has developed sophisticated information management systems that form the basis of a highly efficient and effective organizational structure.  

The Vista Management Executive Team is extremely diverse and has acquired a reputation for proven performance at all of its properties.  More information is available at

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 |

Midwest FedEx Freight Terminal Sells for $15.95 Million in Aurora, IL

Howard Wiese
AURORA, IL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada,  announced the sale of a 63,740-square-foot FedEx freight terminal located in Aurora, Ill. which was part of a two property portfolio of single tenant Industrial properties.

The $15,950,000 sales price equates to $250 per square foot. The buyer’s acquisition of the FedEx property was a critical component in enabling them to refinance a 1.4 million square foot, 27 building portfolio.

            Nick Manganais, a vice president investments in Marcus & Millichap’s Chicago O’Hare office, represented the seller, an Illinois-based family partnership. Howard Wiese, a vice president investments in the same office, represented the buyer, Welbic Investments, a private real estate investment fund. 

            “The property is one of just 17 FedEx Priority freight terminals in Illinois,” says Manganais. “It was built-to-suit for FedEx in 2003.”

Nick Manganais
            “The property is located in a very strong Chicago metro area near two major highways, Interstate 88 and Illinois State Route 59,” adds Wiese. “O’Hare International Airport and the surrounding densely populated office and industrial areas are within a 30-minute drive.”

            The freight terminal is located on 14.5 acres at 3883 Butterfield Road in Aurora, Ill. Part of Chicago’s Naperville/Aurora metropolitan trade area, Aurora is the second-largest city in Illinois and Naperville is the state’s third-largest city. The population within a seven-mile radius is 400,000, 250,000 of which are part of the workforce.

            The Aurora FedEx freight terminal features a 55,120-square-foot main building with 6,800 square feet of office space. There is also 48,320 square feet of cross-dock working area, which serves as the customer center. The property contains a 6,550-square-foot three-bay repair/wash building, a 1,600-square-foot fueling facility and a concrete scale pit with an axle scale.

The freight terminal has 104 loading/unloading doors with custom dock levelers and custom door seals. There are 269 tractor/trailer parking spaces and a separate employee parking lot that can hold up to 91 cars.

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

Gina Relva
Public Relations Manager
(925) 953-1716

Wyndham Garden Trenton Holds Grand Re-Opening Event for Totally Rejuvenated Hotel in Trenton, NJ

Wyndham Garden Trenton Hotel lobby

 TRENTON, N.J., June 19, 2014—Officials of Welcome Hotel Group, LLC,  today will celebrate the grand re-opening of the 164-room Wyndham Garden Trenton hotel.  More than 100 business, civic and government leaders are expected to attend the event, which takes place at 11:30 a.m.

The celebration marks a new direction in the vision of hotelier, Dr. Bran N. Viswanath, to invest in the Trenton community and to expand his business interests into the hospitality industry. 

Dr. Viswanath is a well-known cardiologist  who was a member of the original team to perform the first open heart transplant in Houston.  In addition to medicine and lodging, Dr. Viswanath business activities also include broadcasting.

“This is our first major investment in hospitality after successfully growing our media portfolio of television and radio stations,” said Dr. Bran N. Viswanath of Welcome Hotel Group.

“Our goal is to duplicate our success in broadcasting to benefit both Trenton and our company.  Since last December, we have spent significant time and resources to bring the hotel out of bankruptcy and create a new standard in hospitality for downtown Trenton.”

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

Chris Daly,
Daly Gray Public Relations
(703) 435-6293

Premier David Alward Heralds Grand Re-opening and 125th Anniversary of Algonquin Resort in New Branswick, Canada

Algonquin Resort, Saint Andrews, New Brunswick, Canada
SAINT ANDREWS, New Brunswick., CANADA, June 19, 2014 - -New Brunswick Premier David Alward joined officials with New Castle Hotels & Resorts, Southwest Properties and Marriott International, Inc. (NASDAQ: MAR) to commemorate the grand re-opening of the Algonquin Resort.

Now celebrating its 125th anniversary, the Algonquin first opened in June, 1889 and became the nation's first Autograph Collection hotel, Marriott International’s exclusive portfolio of independent hotels, when it opened in March following an 18-month “rafters to registration” renovation.

Southwest Properties and New Castle team purchased the hotel from the provincial government in 2012 with the intent of restoring the national treasure.

New Brunswick Premier David Alward
                “For more than a century the iconic Algonquin Hotel has anchored New Brunswick’s tourism landscape and brought a very vibrant part of this province’s heritage to life, " said Premier David Alward.

 "I join with the members of the community and business sector of this region who are so pleased to begin the next chapter of this historic property’s story here in Saint Andrews, where visitors from around the world will continue to enjoy New Brunswick’s attractions and hospitality.”

The 233-room Algonquin Resort overlooks the picturesque Passamaquoddy Bay from St. Andrews-by-the Sea, New Brunswick, Canada.

For reservations or additional information, please visit

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

Lauralee Dobbins
Daly Gray, Inc.

Essex Realty Group Brokers the Sale Of 46-Unit Multi-Family Apartment Building in Chicago, IL

Doug Fisher

CHICAGO, IL,  June 19, 2014 - Essex Realty Group, Inc. is pleased to announce the sale of 1331 W. Loyola, a 46-unit apartment complex located in Chicago, Illinois.

The building is situated one block west of Loyola University and benefits from a consistent flow of students seeking unaffiliated off-campus rental housing. 

In addition, the property is within walking distance of the CTA Red Line (Loyola station) at the intersection of Sheridan Road and Loyola Avenue, as well as several CTA bus stops along Sheridan Road and Devon Avenue.

  The property contains a mix of well-maintained studios, junior one-bedroom and one-bedroom apartments with updated bathrooms and kitchens and hardwood floors throughout. 

Recent capital improvements include new windows, electrical service and exterior porches. The property also benefits from a reduced property tax bill through Cook County’s Class 9 tax designation.

Jason Fishleder
 Doug Fisher and Jason Fishleder represented the seller and Doug Fisher represented the buyer in the transaction. The sale price was approximately $3,575,000.

 Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

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

Douglas Fisher
Essex Realty Group, Inc.
Phone: 773.305.4910

Charles Dunn Company Names Brian Sterz as Associate of Investment Sales with Team Stepp

Brian Sterz

LOS ANGELES, CA,  June 19, 2014 – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has named Brian Sterz as associate of investment sales out of the firm’s Century City office. 

He joins Team Stepp, one of Charles Dunn’s top performing brokerage teams, led by senior managing director, Kimberly Roberts Stepp. In his new role, Sterz will focus on the sale and exchange of multifamily real estate within Santa Monica and prime Westside Los Angeles locations.

Sterz completed his MBA at the UCLA Anderson School of Management where he concentrated on Real Estate as a student in the Ziman Center for Real Estate.

Prior to joining Charles Dunn, Sterz served as vice president at EP Wealth Advisors, an independent investment firm in West Los Angeles, where he advised high net worth individuals and helped shape portfolio strategy as a member of the portfolio management Investment Committee.

Kimberly Roberts Stepp
He earned the right to use the Chartered Financial Analyst (CFA) designation and graduated from the University of California at Berkeley.

Brian was born and raised in Los Angeles and attended Loyola High School. Brian is also actively involved with Back On My Feet, a national non-profit organization helping underserved communities thrive through running, and enjoys competing in endurance athletic events including ironman triathlons and marathons.

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

Darcie Giacchetto
D.G. Communications, Inc.