Tuesday, August 18, 2015

Marcus & Millichap Adds Three Experienced Specialists to the Firm’s National Hospitality Group in Charleston, SC

Josh Williams
CHARLESTON, SC  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has hired three experienced hospitality investment professionals to join the firm’s National Hospitality Group (NHG) in Charleston, S.C., according to Gregory A. LaBerge, the NHG’s national director.

Josh Williams joins the firm as an NHG senior director, Joce Messinger as an NHG director and Michael Estes as an NHG associate member.

Vishal Patel, an associate member of the NHG in the Charleston office will also be part of the team.

“The addition of Josh, Joce and Michael to our already industry-leading team of hospitality property investment specialists provides our clients in the southeastern United States with an even greater depth of resources,” says LaBerge.

Joce Messinger
            In his new position, Williams is responsible for Marcus & Millichap’s hotel acquisition and disposition services in the southeastern United States, with major initiatives in North Carolina, South Carolina, and Virginia. 

His 25-plus-year industry experience includes assignments involving large full-service hotels, select service and economy-branded hotels and inns. 

He will guide the team in serving the needs of institutional and private client owners. Williams is a graduate of the University of Georgia.

“Marcus & Millichap continues to redefine the hotel brokerage landscape,” says Williams. “The firm’s platform is truly unlike any other in creating value for hotel owners, and Joce, Mike, Vishal and I are excited at the prospect of helping our clients leverage the many services Marcus & Millichap provides.”

Messinger has closed more than 25 investment real estate transactions in the southeastern U.S. He received a B.S. in business management with a concentration in hotels and hospitality from the College of Charleston.

Michael Estes
“Marcus & Millichap’s National Hospitality Group, with its highly defined specialization on investment properties and financing specifically tailored for the hospitality asset class, ensures that our clients receive exceptional brokerage services,” adds Messinger.

Prior to joining Marcus & Millichap, Estes was the managing director for Charleston-based Beacon Hospitality. 

He has more than 10 years of hospitality management experience as an operator of a variety of full-service and select-service hotels in the Southeast and Mid-Atlantic.

 He is especially well versed in evaluating the performance of brands across the Hilton, Hyatt and Starwood platforms.

“I am looking forward to further strengthening my long-term relationships with hoteliers in the Mid-Atlantic and Carolinas and showing them firsthand why Marcus & Millichap has the industry’s strongest investment sales platform,” Estes says.  

“Combining the strengths, experience and market knowledge of Josh’s team with the value proposition of Marcus & Millichap’s national hotel platform creates a highly compelling solution for hotel owners,” notes Raj Ravi, regional manager for Marcus & Millichap overseeing the Carolinas market.

Patel became an associate with Marcus & Millichap earlier this year. He graduated from Georgia Southern University with a B.B.A. in economics.

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

Gina Relva
Public Relations Manager
(925) 953-1716

Stirling Sotheby’s International Realty Named Exclusive Marketing Agents of Historic Mansion, Destination near Gainesville, FL

Elsie Benitez
GAINESVILLE, FL --- Stirling Sotheby’s International Realty has been named exclusive marketing agents for the Herlong Mansion  an award-winning inn and gardens listed on the National Register of Historic Places.  

The mansion is located two minutes from I-75 and 441 southwest of downtown Gainesville and 10 minutes from the University of Florida. 

“The Herlong Mansion offers a new owner tremendous potential and income opportunity,” said Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty.

 “The mansion is ideally situated, designed and equipped for a destination bed and breakfast and for its historic uses – large weddings and receptions, family reunions, corporate retreats and UF activities.”

 Elsie Benitez, International Marketing Specialist at Stirling Sotheby’s International Realty, is representing the property and serves as principal contact.

Herlong Mansion, near Downtown Gainesville, FL
The Greek revival three-story mansion was constructed in 1910.  Its quaint village setting, situated on 2.3 acres of tranquil gardens with gazebos, is surrounded by stately oaks and giant magnolias. 

The mansion features grand porches,  a grand staircase, 10 ornate fireplaces, 10 private, professionally furnished and decorated suites, an owner’s apartment and two, free-standing single-bedroom cottages. 

 The mansion’s kitchen is well equipped and serves a dining room that seats 25 and a separate banquet hall that can accommodate up to 70 seated guests.

The property is being offered for sale fully equipped, licensed and furnished at $1,299,000, which is below recent appraised value, according to Soderstrom.   

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

Roger Soderstrom, Founder & Owner, Stirling Sotheby’s International Realty, 407-333-1900; rsoderstrom@stirlingsir.com

Chatham Lodging Completes Acquisition of the Residence Inn Fort Lauderdale Intracoastal

Residence Inn Fort Lauderdale Intracoastal/Il Lugano

 PALM BEACH, FL, Aug. 18, 2015—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, today announced that it has completed the previously announced acquisition of the 105-room Residence Inn Fort Lauderdale Intracoastal/Il Lugano.

Dennis Craven
“This is a great addition to our portfolio, further enhances its quality and geographic distribution,” commented Dennis Craven, Chatham’s chief operating officer.

 “Given the current disconnect in public pricing of our common stock, we will use debt and other sources to fund acquisitions over the near term. 

"Our balance sheet is in great shape and we are comfortable adding leverage, as well as potentially recycling capital out of existing assets into hotels in higher growth markets.”

The Residence Inn Fort Lauderdale Intracoastal/Il Lugano opened in 2008 as the Il Lugano Hotel and Residences and was converted to a Residence Inn in 2014.

The stunning 14-story building is located on the eastern edge of the Intracoastal Waterway at Oakland Park Blvd., in Fort Lauderdale and includes 105 oversized rooms ranging from 550 to over 850 square feet, all with views of the Intracoastal Waterway and/or the Atlantic Ocean.

Intracoastal Waterway, Fort Lauderdale, FL
Other hotel amenities include the Coastal View Restaurant, intracoastal waterfront meeting room, 177-space parking garage and waterfront deck with docks that can be expanded for added food and beverage operations. 

The building includes independently owned condominiums that are not a component of the hotel’s operations. 

For the discerning traveler, the hotel provides excellent access to some of the more exclusive beaches and restaurants as compared to hotels along the Fort Lauderdale strip.

 The market continues to experience significant growth in tourism, and the hotel will benefit from the almost $2.5 billion expansion and renovation of the Fort Lauderdale International Airport currently underway which will attract more travelers from the United States, Central America and South America.

Chatham funded the Fort Lauderdale Intracoastal purchase with available cash and borrowings on its revolving credit facility. The hotel will be managed by Island Hospitality Management, a leading hotel management company which is 51 percent owned by Fisher.

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

Chris Daly    
Daly Gray Public Relations                        

(703) 435-6293                                                     

Michael Maidhof Joins Meridian Capital Group as a Senior Vice President to Further the Expansion of its Agency Platform Nationally

Michael Maidhof
 New York, NY, Aug. 18, 2015 – Meridian Capital Group, America’s most active debt broker, announced today that Michael Maidhof joined the Company as a Senior Vice President, reporting to Senior Managing Director, Mike Edelman

Mr. Maidhof will be responsible for expanding Meridian’s agency origination and underwriting capabilities as well as sourcing and placing loans generated by Meridian’s newly-formed investment sales platform.

Mr. Maidhof joins Meridian from Freddie Mac where he most recently held the role of Production and Sales Manager for the Northeast Region.

His tenure at Freddie Mac began in August 2007 as an Underwriter Analyst from which he progressed to a Senior Underwriter in March 2012.

Prior to Freddie Mac, Mr. Maidhof worked for Hunt Mortgage Group (formerly Centerline) where he held the roles of Underwriter Analyst and Associate and was focused on LIHTC transactions and servicing Freddie Mac loans. Mr. Maidhof holds a B.A. from SUNY Binghamton.

“Over Mike’s eight years at Freddie Mac he has developed extensive product knowledge and expertise that is truly second to none,” said Mr. Edelman. “I am thrilled to have a partner of Mike’s caliber at Meridian, and together, I look forward to quickly expanding the firm’s agency platform and capabilities nationally,” he added.

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

Jonathan Stern
Meridian Capital Group