Friday, January 16, 2015

Stillwater Investment Group Acquires 34,500-Square-Foot Office Building in Ontario, CA

1801 East Holt, Ontario, CA                                            

John Drachman
IRVINE, CA --  Leveraging its experience in the greater Ontario market, Stillwater Investment Group, an Orange County-based real estate firm focused on pursuing opportunistic real estate investments, has announced acquisition of a value-add, two-story, 34,500-square-foot office building in the City of Ontario.

 Built in 2007, the property, located at 1801 E. Holt, is currently unoccupied. Stillwater plans to take advantage of limited new development and the diminishing blocks of space in the market for the 20,000-square-foot and up size range, noting that the acquisition timing is good based on a strong resurgence of office leasing and investment activity occurring in the region.

Stillwater purchased the property from Rialto Capital for $2.35 million. Phil Woodford, Senior Vice President with CBRE, represented both the buyer and seller. The firm plans to complete a number of interior improvements to the property in preparation to sell or lease.

“This property fits our acquisition strategy perfectly. I’ve had success in Ontario working on other properties and this asset provided the opportunity to begin building Stillwater’s portfolio. It’s indicative of the types of opportunistic, value-add properties that we are seeking to acquire as we move forward,” said John Drachman, President of Stillwater Investment Group. Drachman started Stillwater in 2014.

Phil Woodford
Drachman added that he has seen firsthand the recent gains in the recovering Ontario office market.

Woodford also cited that that with no new office product construction planned in the Inland Empire for a considerable amount of time, landlords will be able to take advantage of the decreasing availability of space.  

He also shared that the increased frequency of investment sales has added to the further stabilization of strong office corridors such as Ontario. 

“Near the close of 2014, we had a user acquire an entire six-story, 144,000-square-foot Ontario office building that had been vacant. That kind of tenant activity coupled with new investors such as Stillwater entering the market helps to create important momentum at just the right time in the cycle,” added Woodford.

The acquired property is located in Ontario’s primary business district, approximately one block from the Ontario Convention Center with immediate access to the 10 and 15 freeways and Ontario International Airport.

Drachman shared, “Stillwater Investment Group plans to acquire additional value-add real estate opportunities throughout Southern California. I believe that an improving economy along with improving fundamentals will provide many sources for future acquisitions.”

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

Darcie Giacchetto
Spaulding Thompson & Associates

MG Properties Group Acquires Tuscany Ridge Apartments for Nearly $39 Million in Temecula, CA

Tuscany Ridge Apartments, Temecula, CA

Rob Singh
 Temecula, CA,  Jan. 16, 2015– MG Properties Group, a private San Diego-based real estate investor and operator, has announced the acquisition of the Tuscany Ridge Apartments in Temecula, California.

According to Rob Singh, MG Properties Group Chief Investment Officer “Due to its high quality modern design and construction, Tuscany Ridge is an ideal candidate for a value-add repositioning strategy. 

Given the opportunity for growth in the Inland Empire and its proximity to our existing portfolio, this is an excellent strategic fit for us.”

The property consists of 220 luxury apartments built in 1999. Units include nine-foot ceilings, full-sized washers and dryers, and a mix of well-designed 1, 2, and 3-bedroom floor plans.

 Tuscany Ridge is centrally located in Temecula and is within walking distance of restaurants, schools, retail, and major employers. 

The property is adjacent to the Sage Canyon Apartments, also owned by MG Properties Group. The company plans to invest over $3.3 million in capital improvements to the property, enhancing common area amenities, exteriors and landscaping, and renovating unit interiors.

Sage Canyon Apartments, Temecula, CA
 Tuscany Ridge Apartments was purchased for a total of $38,850,000 from an institutional investor. 

The acquisition was financed with a 10-year fixed-rate mortgage from Fannie Mae, arranged by Walker & Dunlop. 

Tuscany Ridge marks MG Properties Group’s fifth acquisition in 2014. The company also acquired California properties in Vallejo, Los Angeles, and Napa, and one property in Tempe, Arizona.  The five acquisitions totaled more than 1,000 units and nearly $150,000,000 in combined purchase price.  Washington, Oregon, Nevada, and Colorado are also target acquisition markets for the company. 

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

Lexi Astfalk or Jenn Quader
(949) 955-7940

Griffin-American Healthcare REIT III Completes Property Acquisitions Totaling More Than $340 Million

Danny Prosky

IRVINE, CA (Jan. 16, 2015) – American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT III, Inc., announced today that the REIT recently completed the acquisition of 19 healthcare properties for an aggregate purchase price of approximately $340 million.

 The acquisitions were comprised of 17 medical office buildings, an acute care hospital and a senior housing facility.

“These latest acquisitions represent high-quality assets leased by very strong tenants and operators with whom we look forward to sharing mutually rewarding business partnerships,” said Danny Prosky, president, chief operating officer and one of the largest stockholders of the REIT. 

  “They also add tremendous diversification to our rapidly growing portfolio.”

Additionally, the REIT has announced that it has executed letters of intent and/or purchase and sale agreements to acquire 31 additional healthcare properties for an aggregate purchase price of approximately $530 million. These pending acquisitions are subject to customary closing conditions and the satisfaction of other requirements as detailed in the agreements.

Jeff Hanson
“We couldn’t be more pleased with the rate at which we’re achieving size and scale in an institutional-grade portfolio while continuing to demonstrate the discipline that our stockholders have grown to expect from us,” said Jeff Hanson, chairman, chief executive officer and one of the largest stockholders of the REIT. 

  “We began acquiring properties in June 2014 and are on the cusp of owning a portfolio valued at nearly $1.0 billion (based on aggregate acquisition price, including pending acquisitions).”

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

                                                                              Damon Elder   
(949) 270-9207

Cooper Carry-Designed Scott Building in DC Earns LEED Platinum Status

WASHINGTON, DC -- The Cooper Carry-designed Scott Building, situated on the Historic Armed Forces Retirement Home (AFRH) Campus in Washington, D.C., just recently achieved LEED Platinum status, making it the first LEED Platinum certified healthcare facility in the mid-Atlantic area (based on projects listed in the USGBC-LEED database).

This is a big deal for veterans in the D.C. area. Healthcare facilities rarely reach LEED Platinum certification because their daily operations generate such high amounts of energy, which makes it hard to qualify for LEED’s energy saving standards.

In collaboration with the U.S. General Services Administration (GSA), Cooper Carry retrofitted sustainable features to benefit the wellness of the veterans and reduce costs. Their design resulted in a 38 percent energy reduction relative to the baseline.

The Scott Building offers a multitude of uses for aging veterans and their families including 36 skilled care nursing rooms, 24 rooms for memory support, a commercial kitchen, dining room, health and wellness center, an artist colony and more.

Designing a building of this class to LEED Platinum standards sets the example for other healthcare facilities.

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

Liana Moran • The Wilbert Group
1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309
O: 404-748-1367    

HFF arranges $13.5 million financing for Crowne Plaza Orlando-Downtown hotel in Orlando, FL

Crowne Plaza Orlando-Downtown, 304 West Colonial Drive, Orlando, FL

Michael Weinberg
ORLANDO, FL  – HFF announced it has secured a $13.5 million financing for the Crowne Plaza Orlando-Downtown, a 227-room hotel in downtown Orlando, Florida.

HFF worked exclusively on behalf of the borrower, Vista Group of Companies, to secure the loan.

                The asset currently includes 227 condominium hotel units, 50 of which are two-room suites. Renovated from 2010 to 2011, the 14-story, full-service hotel includes 8,050 square feet of meeting space, an outdoor pool, fitness center, business center and restaurant and wine bar.

 The hotel is located at 304 West Colonial Drive along Interstate 4 just minutes from the Central Business District and community venues such as Amway Center, Citrus Bowl and the Dr. Phillips Performing Arts Center.

The HFF team was led by director Michael Weinberg and real estate analysts Cecily Nazario and Alexandra Lalos.

Cecily Nazario
“This asset is supremely high-quality in terms of interior finishes and level of service,” Weinberg said. 

  “The Vista Hospitality team always does an excellent job maintaining and operating their hotels.”

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:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 |

HFF closes $50.15 million sale of and arranges $21.2 million financing for Brookline, MA multi-housing building

 1440 Beacon Street Apartments, Coolidge Corner Neighborhood, Brookline, MA

Coleman Benedict
BOSTON, MA – HFF announced it has closed the $50.15 million sale of and arranged $21.2 million in acquisition financing for a 136-unit multi-housing building in Brookline, Massachusetts.

                HFF marketed the property for the seller, a joint venture between Westbrook Partners and Nordblom Company. 

  An affiliate of Visconsi Companies, Ltd. purchased the property and will employ Samuels & Associates for property and asset management.

 Additionally, HFF secured a 15-year, fixed-rate loan for Visconsi Companies through New York Life Real Estate Investors. 

                The property is located at 1440 Beacon Street in the Coolidge Corner neighborhood of Brookline, approximately 4.2 miles west of downtown Boston. 

  The transit-oriented multi-housing community has direct access to the MBTA’s (Massachusetts Bay Transit Authority) Green Line, which provides easy access for residents to Boston’s Back Bay, Financial District and Cambridge. 

Ben Sayles
The building is comprised of primarily one-bedroom apartments as well as 32 studio units and includes amenities such as garage parking with direct access, patio area with gas grills and seating areas, and fitness center.

                The HFF investment sales team representing the seller was led by director Mark Campbell, senior managing director Coleman Benedict, director Ben Sayles and real estate analyst Jackie Meagher.

                The HFF debt placement team representing the borrower was led by managing director Greg LaBine.

                “1440 Beacon Street is an irreplaceable asset,” Campbell said.  “It offers Green Line access directly in front of the building, the surrounding amenities of the Coolidge Corner neighborhood and proximity to Boston’s major economic hubs, all within one of Boston’s desirable and affluent communities.”

Regarding the sale, he added, “It was a pleasure to work on a transaction involving groups of such high caliber.”

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 |

HFF secures $46.725 million financing for newly-completed luxury multi-housing community in Fort Collins, CO

The Trails at Timberline, 2451 South Timberline Road, Fort Collins, CO

Eric Tupler
DENVER, CO – HFF announced it has secured $46.725 million in financing for the recently completed The Trails at Timberline, a 314-unit luxury lifestyle apartment community developed by McWhinney  in Fort Collins, Colorado.

                Working on behalf of DTMF Investments, LLC, an affiliate of McWhinney, HFF placed the 30-year, 4.42 percent fixed-rate Fannie Mae loan with M&T Realty Capital Corporation.  

The loan has a two-year, interest-only period, and is taking out a construction loan on the property.

                The Trails at Timberline is situated on a 16.09-acre site at 2451 S. Timberline Road, close to major Fort Collins and Front Range employers, Colorado State University, Old Town Fort Collins, Foothills Mall and the Front Range Village shopping center.  

Completed in 2014, Trails at Timberline has 12 residential buildings with studio through three-bedroom units averaging 896 square feet each.

Brock Yaffe
Community amenities include a resort-style pool, two-lane bowling alley, fitness center, 3D theatre room, gourmet community kitchen, outdoor barbecue/fire pit area and HD golf simulator.  

The property also promotes a strong sense of community with weekly event programming including yoga classes, themed happy hours and special holiday gatherings.  The Trails at Timberline is 98 percent occupied.

The HFF debt placement team representing the borrower was led by senior managing director Eric Tupler, associate director Brock Yaffe and real estate analyst Matt Gangaware.

                “HFF and M & T Realty Capital Corporation provided DTMF Investments, LLC the most competitive financing terms available in the market in a streamlined and timely manner reflecting The Trails at Timberline’s superb attributes and operating performance,” said McWhinney Vice President of Finance Joshua Kane.

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 |

HFF closes $11.75 million sale of suburban Atlanta Kroger-anchored retail center

Spivey Junction, 1748 Hudson Bridge Road, Stockbridge, GA

Jim Hamilton
ATLANTA, GA – HFF announced it has closed the $11.75 million sale of Spivey Junction, an 81,475-square-foot neighborhood retail center in the Atlanta suburb of Stockbridge, Georgia.

                HFF marketed the property on behalf of the seller, Entry Point Capital, LLC.  Phillips Edison Grocery Center REIT II, Inc. & Company purchased the offering. 

                Spivey Junction is located at 1748 Hudson Bridge Road at the northeast corner of the Hudson Bridge and Flippen Roads intersection, less than 25 miles southeast of downtown Atlanta. 

  Kroger, which anchors the center, is ranked the No. 1 grocer in the Atlanta metro statistical. 

  The center is 91 percent leased to a variety of other national and regional tenants, including Kroger’s fuel center, Great Clips, Goodwill, Workout Anytime, Subway, Domino’s Pizza and Miracle Ear.

                The HFF investment sales team representing the seller was led by managing directors Jim Hamilton and Richard Reid and real estate analysts Mike Allison, Pete Anastasi and Brad Buchanan. 

Richard Reid
Phillips Edison Grocery Center REIT II, Inc. is a public non-traded real estate investment trust that seeks to acquire and manage well-occupied grocery-anchored neighborhood shopping centers having a mix of national and regional retailers selling necessity-based goods and services, in strong demographic markets throughout the United States. 

  As of January 6, 2014, the company owned and managed an institutional quality retail portfolio consisting of 20 grocery-anchored shopping centers totaling approximately 2.3 million square feet. 

  For more information on the company, please visit the website at

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | 
Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 |

Concord Hospitality and Kane Realty To Develop North Carolina’s First AC Hotel in Raleigh's North Hills

Rendering of planned AC Hotel Raleigh, North Hills Neighborhood, Raleigh, NC

Mark Laport
RALEIGH, NC— Concord Hospitality Enterprises and Kane Realty Corporation announced that they will develop and operate North Carolina's first AC Hotel, a Marriott International lifestyle brand, in Raleigh's North Hills section.

The AC Hotel will be located in the Park District at North Hills near LEED Gold-certified CAPTRUST Tower. 

AC Hotel Raleigh , a 133-room upscale hotel is expected to open in 2016 and will be Concord and Kane Realty’s third hotel joint venture in North Hills, the heart of Raleigh’s Midtown innovative mixed-use district that includes high-end boutiques, well-known department stores, the Triangle’s best dining and a year-round calendar of entertainment.

 “North Hills is the premier midtown Raleigh address and is at the forefront of a national trend in urban development, providing a refined mixture of everything that makes a community desirable," said Mark Laport, Concord’s president and CEO. 

  "We saw the potential for this project when we developed the Renaissance Raleigh/North Hills in 2008 and continued to share the vision when we built the HYATT house hotel in 2013.  It is clear to us that this flourishing urban center can support and will benefit greatly from the addition of another well-respected Marriott brand that speaks to a slightly different demographic than the existing hotels." 

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

Lauralee Dobbins
(703) 435-6293

Lincoln Harris Brokers Lionheart Trucking’s Purchase of Four Acres of Land in North Charleston, SC

Mike Ferrer
CHARLESTON, SC — Lincoln Harris has brokered Lionheart Trucking’s acquisition of a four-acre site, located at 4350 Piggly Wiggly Drive in North Charleston, South Carolina, for $1.15 million.

 Mike Ferrer, CCIM, of Lincoln Harris’ Charleston office represented the buyer, and Robert Barrineau Jr. and Brendan Redeyoff of CBRE represented the seller, JLW PW II, LLC.

The property includes a small warehouse. Lionheart Trucking plans to use the property as a truck repair site.

“This site, located in close proximity to Charleston’s main roads and highways, offers a great opportunity for Lionheart Trucking,” Ferrer said. “Charleston has a bright industrial future, and now is a great time for companies to purchase properties.”

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)

Chatham Lodging Raises Dividend 25 Percent

Jeffrey H. Fisher

 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,  announced that its Board of Trustees has voted to raise its monthly dividend by 25 percent, or $0.02 per share.  On an annualized basis, the dividend will increase $0.24 to $1.20 per share, compared to $0.96 in 2014.

 “We have raised our annual dividend each year since our 2010 IPO, from $0.35 in 2010 to $1.20 per share for 2015, an increase of 243 percent and a testament to the strong cash flow that our platform is generating,” highlighted Jeffrey H. Fisher, Chatham’s chief executive officer and president.

“We are gratified that our Board of Trustees has the confidence to increase our monthly dividend once again, reflecting our strong 2014 performance and significant portfolio growth, making more than $500 million of hotel investments and catapulting our owned and joint venture assets to more than $3 billion.

“We will continue building Chatham to be the premier, select-service hotel REIT by accumulating a superior portfolio of investments financed with the right balance of equity and debt that will appreciate in value and generate strong cash flow which will enable us to reward our investors with an attractive and dependable dividend.”

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

Chris Daly                                                                                    Dennis Craven
Daly Gray Public Relations                                                    Chief Financial Officer
(Media)                                                                                        (Company)
(703) 435-6293                                                                           (561) 227-1386  

Urgo Hotels Acquires Luxury Whiteface Lodge in Lake Placid, NY

Whiteface Lodge Resort, Lake Placid, NY

Kevin Urgo
BETHESDA, MD —Urgo Hotels & Resorts  announced that it purchased, for an undisclosed sum, the Whiteface Lodge Resort, a AAA four-diamond resort located in Lake Placid, N.Y.

Nestled on six million pristine acres of upstate New York national park on the shores of Lake Placid, the 94-suite Whiteface Lodge is a contemporary rendition of the 19th century heyday of legendary Adirondack resorts with wood beam construction, hand-made furnishings and a roster of amenities and activities suitable for the entire family. 

  The resort also includes 14 undeveloped acres including pristine lakefront property.

              “Having operated Whiteface Lodge for nearly three years, we were able to gain a complete understanding of the potential enterprise value of the White Face Lodge assets as a whole, including the operating business, the remaining for-sale real estate and undeveloped real estate," said Kevin Urgo, principal and managing partner of Urgo Hotels.
For a complete copy of the company’s news release, please contact:

Lauralee Dobbins
(703) 435-6293

CBRE Arranges the Sale and Financing of an Office Property in Orlando, FL

3500 and 3626 Quadrangle Boulevard, Quadrangle Corporate Park, East Orlando, FL

Ron Rogg
ORLANDO, FL -- CBRE arranged the sale and financing of two fully-leased, single-story office buildings totaling 82,175 square feet in the East Orlando office submarket.

ORC Quadrangle, LLC acquired the property, located at 3500 and 3626 Quadrangle Boulevard, from Atlanta-based Wells Real Estate Fund X III, L.P., for an undisclosed amount. CBRE represented the seller.

The property is part of Quadrangle Corporate Park, a 157-acre master planned business park, built adjacent to two of Orlando’s economic powerhouses: The University of Central Florida and Central Florida Research Park.

CBRE’s Ronald J. Rogg and Chip Wooten exclusively represented the seller in the transaction. The sale marks the 16th office building that Rogg has sold in the University/Research Park submarket.

Financing was arranged by Glenn Housman, Senior Vice President, of CBRE’s Debt and Structured Finance group.

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

Ronald J. Rogg, CCIM
Executive Vice President
+1 407 839 3194