Tuesday, April 21, 2015

HFF closes sale of seniors housing community in Provo, UT

The Courtyard at Jamestown, 3352 North 100 East, Provo, UT

Ryan Maconachy
DALLAS, TX  – HFF announced it has closed the sale of The Courtyard at Jamestown, a 132-unit, trophy seniors housing community in Provo, Utah.

HFF marketed the property on behalf of the seller, Courtyard Retirement Group I, L.C.  ROC Seniors purchased the asset for an undisclosed amount.

The Courtyard at Jamestown is located at 3352 North 100 East near Brigham Young University and the Utah Valley Regional Medical Center.  The asset contains a mix of 104 assisted living units and 28 memory care units and maintains a stabilized occupancy rate above 92 percent overall.

 Community amenities include an events room, movie room, library, fitness center, beauty salon, restaurant-style dining and an outdoor pond/recreation area. 

The HFF team representing the seller was led by managing director Ryan Maconachy and director Chad Lavender.

According to HFF, this is arguably Utah’s finest senior living community offering an unparalleled reputation of high-quality health care services and exceptional lifestyle amenities for its residents.  As a result, the property has been the recipient of multiple Best of State and Best of Utah County awards.

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

C&W Announces $93 Million in March Transactions

Ann Spencer
TAMPA, FL – Cushman & Wakefield today released its March 2015 transaction report highlighting nearly 2.2 million square feet of commercial real estate transactions valued at more than $93 million. The details of these transactions can be found below.

Office Leases

Associate Director Bill Reeves, in conjunction with Royal LePage, represented AMEC Foster Wheeler Environment & Infrastructure, Inc. in the lease of 16,610 square feet at 404 SW 140 Terrace in Gainesville, Florida. Milmar Enterprises, LLC was the landlord.

The Anderson Law Group leased 2,874 square feet at 13577 Feather Sound Drive in Clearwater, Florida. Senior Director Paula Buffa and Senior Director James Moler represented the landlord, Feather Sound II, LLC.

Senior Director Scott Garlick and Senior Director John Fish represented ARMA Aviation Corporation in the lease of 5,863 square feet at 3030 North Rocky Point Drive in Tampa, Florida. The landlord was Mid-West Portfolio Corporation.

Paula Buffa
Senior Director John Fish and Senior Director Scott Garlick represented New York Life Insurance Company in the lease of 8,995 square feet at 5510 West LaSalle Street in Tampa, Florida. The landlord was Envirocap, LLC.

Director Anne Spencer, Senior Director Jeff Sweeney, Associate Austin Johnston, and Senior Director Scott Garlick represented the March of Dimes Foundation in the renewal of its 2,752 square-foot lease at 405 North Reo Street in Tampa, Florida. The landlord was The Realty Associates Fund VIII, LP.

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

Chris Owen
Florida Research Manager
(407) 541-4417

Crossman & Company’s Sherri Mann signs 14 Lease deals in first quarter

Sherri Mann
Atlanta, GA. – Crossman & Company recognizes its senior associate Sherri Mann for closing 14 deals within the first quarter of the year.

Mann most recently brokered a lease for Studio 124 at West Jackson Crossing in Hoschton, GA. and renewed leases for 2B Postal, a FedEx authorized ship center and drop-off location, at Eastgate Plaza in Pensacola, FL.; and Great China at Shoppes at Milestone in Pensacola, FL.

“We are proud of Sherri’s diligent work ethic and devotion to every single one of her clients. She has always represented the level of service that Crossman & Company thrives to provide,” said Crossman & Company President John Crossman.

Mann of Atlanta was recently recognized as a Top Retail Leasing Broker by the CoStar 2014 Power Broker Awards.

·     Mann’s 11 other deals within the last few months were:

  • ·     Fit Your Way inside Publix at South Walton in Santa Rosa Beach, FL
  • ·     Super Cuts at Eastgate Plaza in Pensacola, FL
  • ·     Leslie’s Pools at Bradfordville Center in Tallahassee, FL
  • ·     Rent-A-Center at Crestview Corners in Crestview, FL
  • ·     Word of Mouth Barber Shop at Monument Landing Shopping Center in Jacksonville, FL
  • ·     Howard Street Cleaners at Heritage Oaks in Lake City, FL
  • ·     Scratch N Dent at Eastgate Plaza in Pensacola, FL
  • ·     Marcos Pizza at Paradise Shoppes of Perry in Perry, GA
  • ·     Hanami Japanese at Rice Hope in Port Wentworth, GA
  • ·     Southern Spirits at Richmond Hill Plantation in Richmond Hill, GA
  • ·     Chicken Salad Chick at Reedy Branch Commons in Jacksonville, FL

For a complete copy of the company’s news release, please contact:
Sydnie Cobb
Crossman & Company

Meridian Capital Group Arranges $13.6 Million in Bridge and Construction Financing for Two Hotel Properties in Aberdeen, MD

Tal Bar-Or
New York, NY, April 21, 2015 – Meridian Capital Group, America’s most active debt broker, arranged $13.6 million in bridge and construction financing for two hotel properties located in Aberdeen, MD on behalf of Cross Roads Hospitality.

The $13.6 million, 24-month bridge and construction financing was provided by a national bridge lender and features interest-only payments for the full term.

This transaction was negotiated by Meridian Managing Director, Tal Bar-Or, Associate, Beau Williams, and Vice President, Judah Neuman, who are all based in the company’s New York City headquarters.

The property, located at 793 West Bel Air Avenue, is composed of an existing structure that will be substantially renovated to make way for an 80-room LaQuinta Inn & Suites hotel and a development site where Cross Roads Hospitality will construct a brand new 98-room Hampton hotel.

 The city of Aberdeen is located off of the I-95 corridor in close proximity to Baltimore as well as the Aberdeen Proving Ground U.S. Army base. 

“The borrower had an existing box of 112 rooms that would benefit from bringing two flags into the market rather than simply renovating the hotel.

Beau Williams
“Meridian worked closely with the Cross Roads Hospitality team to negotiate a financing structure that accounts for the advantages of using the existing land and separating the asset into two hotels,” said Mr. Bar-Or.

“This project will ultimately yield a brand new Hampton as well as a completely revamped LaQuinta Inn & Suites. 

"The borrower will achieve premium room rates at the Hampton property and absorb overflow at the LaQuinta Inn & Suites portion.

" Cross Roads Hospitality is completing the project at a 65% discount to replacement cost and will have a standout development on the Aberdeen exit of I-95 upon completion,” he added.

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

Jonathan Stern
Meridian Capital Group, LLC

California's Monterey and Shasta Counties Ranked Best by RealTrac for Good Air Quality

Monterey, CA Harbor
IRVING, CA -- With Earth Day right around the corner, RealtyTrac wanted to find out where the most earth friendly counties resided. 

Analyzing various datasets including percent of good air quality days, the percent of people who walk to work, and then the best counties based on affordability.

It’s no surprise that good air quality is a great way to guage how friendly a county is being to the environment. 

Topping the list is Monterey, California with 99.2 percent of good air quality days and then Shasta, California (99.2 percent) nipping at the heels while Kent, Rhode Island (99.1 percent), Cass, North Dakota (99 percent) and Saint Lawrence, New York (99 percent) are close.

    % of Good      Air Quality       Days
Rhode Island
North Dakota
New York
Saint Lawrence

Shasta, CA Caverns
*Only looked at those counties with a population greater than 100,000

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

Ginny Walker
949.502.8300, ext. 268
Data and Report Licensing:


NAI Realvest Earns “Top 10” CoStar Power Broker Awards for Commercial Real Estate Sales, Leasing and Industrial Broker for 2014

Michael Heidrich
ORLANDO, FL--- NAI Realvest, one of Central Florida’s most active commercial property leasing, sales and management companies, recently was ranked among the top 10 commercial real estate firms in the Orlando area by CoStar Group, Inc.

Michael Heidrich, a principal at NAI Realvest, was named one of the Top 10 CoStar Power Brokers in the region for Industrial Property Leasing in 2014.

NAI Realvest earned two more spots on CoStar 2014 Top Ten Power Broker list in Orlando – in both the Leasing and Sales categories – according to Managing Director Robin Webb.

CoStar Group, the nation’s leading real estate information company, ranks real estate companies based on transaction volume and dollar value.

Recipients of the 2014 CoStar Power Broker™ Awards are recognized as professionals who perform at the highest levels in commercial real estate brokerage.

CoStar Group, Inc. (NASDAQ: CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces.

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

Larry Vershel or Beth Payan Larry Vershel Communications Inc. 407 644 4142 Lvershelco@aol.com

Cushman & Wakefield's Larry Richey Named Blanton Lifetime Achievement Award Winner

Eshenbaugh Land Company's Bill Eshenbaugh congratulates Cushman & Wakefield's Larry Richey (right) upon Richey's receipt of the Harry H. Blanton Lifetime Achievement Award. (Photo Credit: FGCAR) 

TAMPA, FL– Cushman & Wakefield is pleased to announce that Senior Managing Director and Florida Market Leader Larry Richey was recently honored by the Florida Gulfcoast Commercial Association of Realtors (FGCAR) with the Henry H. Blanton Lifetime Achievement Award.

Larry Richey

 Richey was presented the award on March 26 at FGCAR’s 2014 Pinnacle Awards ceremony at the Mainsail Event Center.

Richey, who was was recently promoted to Florida Market Leader, oversees Cushman & Wakefield’s branches in Orlando, Tampa, Jacksonville, Miami, West Palm Beach, and Ft. Lauderdale.

 Under Richey’s leadership, the firm’s Florida offices consistently rank at or near the top in their respective regions in terms of market share. 

The company has also grown a burgeoning Investor Services business under his watch, and now manages and leases an 11 million square-foot office, industrial, and retail portfolio throughout the state.

Richey’s sterling, 34-year track record with Cushman & Wakefield is truly impressive. But it is his tireless community involvement which ultimately garnered the Henry H. Blanton award, commemorating the 50-year career of one of Tampa’s most respected brokers.

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

Larry Richey
Senior Managing Director
Florida Market Leader
(813) 223-6300