Sunday, March 15, 2015

Wyndham Hotel Group Names New Chief Digital & Distribution Officer

PARSIPPANY, NJ – Wyndham Hotel Group, the world’s largest hotel company based on number of hotels and one of three hospitality business units of Wyndham Worldwide (NYSE: WYN), today announced the appointment of Barry Goldstein as chief digital and distribution officer, a newly created role designed to support the company’s digital marketing and distribution strategies.

In this position, Goldstein will be responsible for managing and optimizing Wyndham Hotel Group’s digital assets and presence including its web and mobile sites, next generation mobile apps, online media, digital content, third party distribution and the company’s newly created hotel marketing services group that is focused on driving local property revenues and balanced distribution. In addition, he will lead the company’s sales technology strategy.

“We are thrilled to have Barry, an experienced hospitality veteran, join Wyndham Hotel Group in this exciting new capacity,” said Josh Lesnick, the company’s executive vice president and chief marketing officer.  

“Barry brings to the table a unique blend of technical expertise and aptitude and a proven track record of innovation and revenue generation across multiple industries. His strong leadership will be critical in helping us to optimize our online presence, revolutionize our digital strategy and continue to grow our ecommerce and marketing initiatives to better serve our guests and hotel owners.”

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

Gabriella Chiera
Wyndham Hotel Group
22 Sylvan Way
Parsippany, NJ 07054
+1 (973) 753-6590

Shopoff Realty Investments Sells Augusta Ranch Marketplace in Mesa, AZ After Stabilizing The Property In Just 18 Months

William Shopoff
IRVINE, CALIF. – March 9, 2015 – Shopoff Realty Investments announced today that the company has sold Augusta Ranch Marketplace, an 80,247-square-foot grocery-anchored shopping center, as well as an adjacent developable pad, in Mesa, Arizona.

The property was sold to an undisclosed investor for $14.05 million, with returns that exceeded projections and a holding period of 18 months.

Constructed between 2005 and 2006, Augusta Ranch Marketplace is anchored by Bashas’ grocery store, an Arizona-based chain with more than 130 locations throughout Arizona.

The center is leased to a mix of national and local tenants, including Great Clips, Sylvan Learning Center, Geno’s Pizza, Fat Willy’s Family Sports Grill and more. 

“When we acquired Augusta Ranch Marketplace it was undercapitalized and in dire need of new ownership management,” said William Shopoff, President and CEO of Shopoff Realty Investments.
“We specialize in value-add opportunities and pride ourselves on turning around underperforming properties like Augusta Ranch, so it was an ideal investment opportunity for our team. 

David Placek
“Now, just 18 months later, we’ve recapitalized the property, improved tenancy and have created meaningful value for our investors – it’s a home run.”

David Placek, Executive Vice President of Shopoff Realty Investments’ Commercial Properties Division added, "Another way we transformed opportunity into value with this asset was working with the city of Mesa to prepare the adjacent vacant pad for development, and leasing a portion of the pad to a franchisee of Dairy Queen for 20 years, realizing additional untapped upside." 

For additional information, please visit
 or call (844) 4-SHOPOFF.

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

Jill Swartz
Spotlight Marketing Communications
(949) 427-5172 ext. 701
(949) 485-1552 Cell

Lincoln Property Co. and Goldman Sachs Buy Promenade Corporate Center in Scottsdale, AZ

Promenade Corporate Center, 16427 and 16435 North Scottsdale Road, Scottsdale, AZ

Alisa Timm
PHOENIX, AZ – Office investment and management expert Lincoln Property Company (LPC) and partner Goldman Sachs have purchased Promenade Corporate Center in Scottsdale, Arizona, with plans to re-establish the property through a strategic renovation plan with up to $1 million in improvements.

The 256,175-square-foot Promenade Corporate Center totals two, four-story buildings at 16427 and 16435 N. Scottsdale Rd. It sits within the prestigious North Scottsdale/Kierland submarket and at the center of the Scottsdale Promenade, a 730,000-square-foot, mixed-use retail project.

 In all, the office and retail portions of the project total approximately 1 million square feet on 84 acres.

DTZ’s Rick Reeder and Brad Tecca, from the San Diego office, and Jeff Wentworth and Sean Spellman, from the Phoenix office, represented the Promenade Corporate Center seller, Excel Trust Inc. (NYSE:EXL), a retail-focused real estate investment trust. Excel remains the owner of the surrounding Scottsdale Promenade retail project.

Amr Ceran
Promenade Corporate Center is currently 80 percent occupied by tenants ranging from Fitch, Inc. and Healthcare Trust of America to Meridian Bank and Regus Corporation.

 They enjoy surrounding Scottsdale Promenade retail and restaurant tenants including Nordstrom Rack, Lowe’s, Trader Joe’s, PetSmart, Jos A. Bank, Pier 1 Imports and Ulta, as well as Capital Grille, Benihana, Cantina Laredo, Habit Burger Grill and In-N-Out.

“This is a fantastic addition for our team, with room to fill out the project’s vacant office space and maximize its potential as the area’s largest and best office option,” said Lincoln Property Company’s Executive Vice President David Krumwiede, who completed the investment purchase along with Vice President Amr Ceran.

 “We are in an upswing office market, with new, cutting-edge tenants committing to the Valley every day. We are more than excited to expose that interest to this project.”

 “Contemporary companies want exactly what the Promenade offers – quality, quick freeway access, walkability and exceptional shopping and dining,” said Ceran. “Those amenities are all represented here, and sit just outside of the lobby doors.”

Rick Reeder
In addition to a lease-up effort, LPC and Goldman will invest up to $1 million in improvements to the 2004/2005-built Promenade Corporate Center. Some of these improvements include lobby renovations, common corridor painting and landscape work.

DTZ’s Wentworth and Spellman will retain the Promenade Corporate Center marketing and office leasing assignment.

LPC Director of Management Services Alisa Timm will direct the property management strategy, adding to the more than 7 million square feet already managed by LPC across the Desert West Region.

 “We’re thrilled at the opportunity to serve the Promenade’s office tenants as they map out their strategies in the new economy,” said Timm. “This is a beautiful property that will serve them well in that effort.”
Brad Tecca
“Occupancy in the North Scottsdale office submarket has increased 3.3 percent in the past year, and is expected to improve even more in the years to come,” said Wentworth.

“That says great things about this area and its potential to please investors and support tenants with a vibrant amenity base.”

Promenade is the latest asset to join LPC’s track record of successful Class A office repositioning efforts.

 In February, the company, along with a fund managed by Oaktree Capital Management, L.P. (Oaktree), sold Camelback Square to Dallas-based Velocis for $42.3 million.

LPC and Oaktree purchased the Class A, 174,917-square-foot Camelback Square out of special servicing in June 2011.

Jeff Wentworth
They next initiated a major renovation and leasing plan, capitalizing on a prime location in Old Town Scottsdale to improve the building from 50 percent occupied to more than 95 percent occupied with tenants including Mastro’s City Hall Steakhouse, ZocDoc, Regus, Ashton Woods, Echo Global Logistics and Digital Airstrike.

For leasing information on the Promenade or to discuss additional investment opportunities in the Desert West Region, please contact David Krumwiede or Amr Ceran at (602) 912-8888.

For more information, visit

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

Stacey Hershauer
Marketing & Public Relations
(480) 600-0195

HFF arranges $79 million financing on behalf of PM Realty Group and National for high-rise residential tower in downtown Denver, CO

Rendering of The Confluence, a planned residential tower,
 15th Street and Little Raven Street
Riverfront Park area, Lower Downtown District, Denver, CO

Rob Rizzi
NEW YORK, NY – HFF announced it has arranged $79 million in financing for The Confluence, a 288-unit, luxury residential tower in downtown Denver under development by PM Realty Group (PMRG) and National Real Estate Advisors (National).

                Working on behalf of the PMRG/National joint venture, HFF secured a 48-month, 65 percent loan-to-cost construction loan through a national bank.  In 2013, HFF arranged the joint venture partnership between PMRG and National to develop the high-rise tower.

The development site is situated on 1.21 acres at the southwest corner of 15th Street and Little Raven Street in the Riverfront Park area of the Lower Downtown district. 

The 34-story tower will provide mountain and skyline views and will include 10,000 square feet of retail and a 300-space underground parking garage.  

Due for completion in 2017, units will include one-, two- and three-bedroom options averaging 1,040 square feet.

Josh Simon
 Community amenities will include a state-of-the-art fitness center, swimming pool with lounge and cabanas, spa, fire pit, game room, clubhouse and business center.

                The HFF team representing the borrower included managing directors Rob Rizzi and Josh Simon, associate director Colin Oberg and real estate analysts Leon McBroom and Matt Gangaware.
                “The Confluence will undoubtedly be the preeminent multi-housing property in Denver, offering an unmatched combination of location, lifestyle, design and amenities, and will serve as a striking addition to the Denver skyline,” said Rizzi. 

“PM Realty Group and National Real Estate Advisors have emerged as one of the foremost development partnerships for best-in-class multi-housing properties in the country.”

                “This financing is very accretive to the development,” added Simon.  “We built in a longer initial term with extension providing more of a mini-perm option without sacrificing the very low floating-rate or any other terms of the loan.”

For additional information on PM Realty Group (PMRG), please visit or contact Kristen Burney, Vice President and Director of Marketing at
 or 713-209-5910.

For more information on National Realty Advisors,  please visit,

 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 arranges $2 million financing for retail center in South Florida

79th Avenue shops, 4701-4747 Northwest 79th Avenue, Downtown Doral, FL

Cecily Nazario
MIAMI, FL – HFF announced it has arranged $2 million in acquisition financing for 79th Avenue Shops, a 24,973-square-foot retail center located immediately east of  Downtown Doral and the Doral White Course in Doral, Florida.

HFF worked on behalf of the borrower, DTT Doral, 79 LLC, to arrange the 15-year, fixed-rate loan through Ohio National Financial Services, a life insurance company.

                Renovated in 2008, 79th Avenue Shops is situated on 1.41 acres at 4701-4747 Northwest 79th Avenue in Doral and benefits from a dense, infill location with excellent proximity to the Palmetto and Dolphin Expressways.

 Located in the city of Doral, a fast-growing community with a daytime employment population of more than 150,000 workers and an above average household income of more than $89,000 for residents, the property boasts significant value-add potential as a result of being well positioned in a 99 percent leased submarket, according to CoStar.

Jose Carrazana

  79th Avenue Shops is 84 percent leased to 7-Eleven, Annie’s Best Buy Liquors, Sushi Runner, AM Realty, Taste of Style Catering, Electric Supply and S1 Security Group Inc.

The HFF debt placement team was led by associate director Jose Carrazana and real estate analyst Cecily NazarioNestor Machado of Cawy Real Estate represented the buyer.

“The success of this loan placement was directly correlated to numerous factors, including the borrower’s commercial real estate leasing and management expertise as well as Doral’s rapid transformation into an exciting, upscale, live-work-play destination,” Carrazana said.
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 arranges $4.75 million financing for 128-bed student housing community serving Vincennes University in Vincennes, IN

The Annex of Vincennes Student Housing, 201 West St. Clair Street, Vincennes, IN

Zachary Roden

INDIANAPOLIS, IN – HFF announced it has arranged $4.75 million in financing for The Annex of Vincennes, a 128-bed, 52-unit student-housing community serving Vincennes University in Vincennes, Indiana.

HFF worked on behalf of the borrower, Annex Student Living, LLC (Annex), to secure the 10-year, fixed-rate loan.  

Additionally, HFF will service the securitized loan, which will be used to refinance existing debt and pay transaction costs.

                Annex of Vincennes is situated on 1.377 acres at 201 West St. Clair Street across from Vincennes University, Indiana’s first college and one of the oldest in the U.S. 

Located at the intersection of West St. Clair and Chestnut Streets, the property is three blocks from the banks of the Wabash River in northeastern Vincennes, a city of 18,000 people in southwestern Indiana approximately 123 miles from Indianapolis. 

Built in 1990 and renovated in 2014, the community is composed of two buildings with furnished two-bedroom units and three buildings with furnished six-bed townhomes. 
The 100-percent-occupied community features a 24-hour community center, laundry center and bike racks.

Annex purchased the distressed asset in December 2013 and renovated the property, improved the reputation and completely leased the units with a waiting list for the 2014/2015 school year.

                The HFF debt placement team was led by associate director Zachary Roden and real estate analyst Adam Nowak.

“The HFF team was extremely attentive, proactive and simply a pleasure to work with,” said Kyle Bach, CEO of Annex.  “I will continue to work with their team on future transactions.”

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 arranges $17.745 million financing for 188-unit multi-housing community in Reno, NV

The Bungalows at Sky Vista, Reno, NV

Kevin MacKenzie
IRVINE, CA – HFF announced it has arranged $17.745 million in financing for The Bungalows at 
Sky Vista, a newly-built, 188-unit, Class A multi-housing community located in Reno, Nevada.

HFF worked on behalf of Silverwing Development Corporation to secure the seven-year, 2.42 percent, floating-rate loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. 

The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.  Loan proceeds will be used to pay off the existing construction loan.

                The Bungalows at Sky Vista is a two-phase multi-housing community that currently has 188 single-story units with direct access to attached garages and will eventually expand to a total of 338 units.

 The first phase was completed in 2014 and includes a resort-style lap pool and spa with controlled access, clubhouse with big screen TV and business center, 24-hour fitness center, on-site community garden, playground and two private dog parks. 

Greg Brown
With the completion of Phase II, residents will have access to a one-mile paved walking trail in addition to the seven paved miles currently available.  Situated on 19.6 acres at 9755 Silver Sky Parkway in the northern part of Reno, the property is located within the Sky Vista master-planned community that includes 2,286 homes. 

The Bungalows at Sky Vista is less than one mile north of Highway 395, five miles from downtown Reno and approximately 45 miles from Lake Tahoe.

                The HFF debt placement team was led by senior managing director Kevin MacKenzie, associate director Greg Brown and real estate analyst Jamie Kline.

                “The fundamentals in the Reno apartment market have continued to improve, and HFF was able to provide the client with an excellent opportunity to refinance their existing debt and execute a plan in line with their strategic vision for the property,” Brown said.

                Silverwing Development Corporation, which operated in California, Texas and Nevada, has now relocated to Reno, Nevada, with focus on growth in Northern Nevada markets.

 Since its operations in 1986, the company has been active in residential, commercial and land development in California, Nevada and Texas.  Its principals have developed properties in 11 states throughout the nation.

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 |