Monday, October 27, 2014

George Smith Partners Secures $95 Million in Construction Financing for New Downtown San Diego, CA Hotel


Malcolm Davies
SAN DIEGO, CA (Oct. 27, 2014) – Commercial real estate investment banking firm George Smith Partners has successfully arranged $95 million in construction financing for development partners The Robert Green Company and Montage Hotels & Resorts to construct a new 317-room Montage-branded hotel in downtown San Diego’s Gaslamp Quarter, according to George Smith Partners’ Principal Malcolm Davies.

The hotel will mark the launch of Montage Hotels & Resorts’ newest hotel brand, Pendry, and will be called Pendry San Diego.

“This hotel project has been in the works for more than 10 years, with a variety of challenges to overcome,” explained Davies. 

“George Smith Partners worked extensively with The Robert Green Company and Montage Hotels & Resorts over the past 15 months to finally secure the construction financing they needed.

“This allowed the work to begin on this $138 million hotel development, which had its ceremonial ground breaking earlier this month.”

According to Davies, the development site originally housed a condemned cigar store and parking lot, and was initially being considered by another developer as the site for a new Marriott Renaissance hotel.

During the recession, this interest waned, and an eminent domain issue emerged with the site’s former cigar shop owner.  These factors contributed to the complexity of this proposed development, as well as its lengthy pre-development phase.

The Pendry San Diego will be located on 5th and J streets in Downtown San Diego, three blocks from the San Diego Convention Center.

Planned for completion in the Summer of 2016, the Pendry San Diego will be a twelve-story, 317-room luxury hotel, including 36 suites. The hotel will also feature several restaurants and bars; an outdoor pool, spa, grill and fitness area on the third floor deck; as well as ballroom and various meeting rooms.
  
For a complete copy of the company’s news release, please contact:

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

Berger Commercial Realty Hires Four New Employees for Firm’s new Boynton Beach, FL Office

  
Cathie Dzurella

 FORT LAUDERDALE, FL – Regional commercial real estate firm Berger Commercial Realty announced it has hired four new employees to staff its new  Palm  Beach County office.

 The team will manage and lease the firm’s existing assignments as well as a new assignment which consist of a 280,000-square-foot office portfolio in Boynton Beach and Delray Beach. 
  
Cathie Dzurella

A resident of Coral Springs, Cathie Dzurella has been hired as an administrative assistant for the commercial real estate team. She will be responsible for managing the workflow process of leases, extensions, addendums and lease summaries.  Additionally, she will update vendor and tenant contracts to meet compliance standards and lease terms. Dzurella previously served as senior administrative assistant at Honda R&D Americas, Inc. in Los Angeles. She holds an associate’s degree in secretarial sciences from Middlesex County College in Edison, N.J. and is a member of the Arvida Park of Commerce board of directors.

Jennifer Koerber
Jennifer Koerber

A resident of Lantana, Jennifer Koerber has been hired as an assistant property manager. She will assist in the daily operations of office, retail and warehouse properties, including budgeting, tenant relations, vendor management, lease administration, insurance compliance, preventative maintenance, property value enhancement and portfolio growth. Koerber joins Berger Commercial Realty from LouJA Realty, Inc., where she served in the same position. In the past, she has volunteered with Habitat for Humanity and fundraised for the Humane Society.
    
Lee Tomback

Lee Tomback joins the firm as a senior property manager. Tomback has more than 28 years of real estate experience and previously served as vice president and chief operating officer of LouJA Realty, Inc. He is a certified property manager and real property administrator. A resident of Boynton Beach, Tomback received his bachelor’s degree from the University of Hartford in Connecticut. A member of the Humane Society, he volunteers with hospice organizations and Habitat for Humanity of Palm Beach County. 


Lee Tomback
  Robert Dabrowski

Robert Dabrowski joins the firm as a leasing associate.  He will represent landlords in leasing office, retail and industrial space. Dabrowski previously served in the same position at AW Property Co. in Palm Beach Gardens. With five years of real estate experience, his career highlights include leasing 45,000 square-feet of office space in one year and increasing the occupancy of the Comeau Building in West Palm Beach by 70 percent. A resident of North Palm Beach, Dabrowski earned his bachelor’s degree in finance from Indiana University. 

Robert Dabrowski







 Ranked among the largest commercial real estate firms in South Florida, Berger Commercial Realty provides comprehensive, cost-effective property management and brokerage services to both institutional and non-institutional owners. For more information, visit www.bergercommercial.com.

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

Marielle Sologuren
Pierson Grant Public Relations
(954) 776-1999, ext. 226