Sunday, October 4, 2015

Real Estate Capital Institute Reports Commercial Mortgage Spreads Widen By More Than 15 Basis Points

Jean Darrow Peck
Chicago, IL- As Fed has decided to keep rates steady
again, mortgage spreads have widened by more than 15 basis points as well.

However, steady rates continue drawing back more bond investors into the realty capital markets, including those seeking safe haven from global

As a rule of thumb, shorter term loans of five years or less hover in the three-handle mortgage rate range for leverage levels below 75%, and longer term fixed-rate debt will start with a four-handle range, occasionally
dipping into the higher-three-percent range for stronger credit underwriting.  Floating rate debt pricing remains basically unchanged. 

With rates still at very competitive levels, lenders focus more on sponsorship and funding flexibility, rather than pricing for winning deals.

Banks, for example, will waive recourse requirements and fix rates, in order to prevent clients from moving to conduit or life company debt.

Alternatively, conduits provide higher leverage (including mezz/pref equity)
and delve into tertiary markets to gain market share.  Life companies offer
the lowest rates and additional proceeds during the loan term to draw
lower-leverage, higher quality properties.  Lastly, agencies provide a
combination of all of the above for multifamily deals, particularly
affordable housing ventures.

A potential Fed rate hike is one of the hottest topics within the realty capital markets.  Yet many investors and funding sources see little change in strategic plans, should rates rise as much as a quarter point.  Numerous players already believe that rates hit bottom and are now on a steady rise, although not at any dramatic levels.  In other words, gradual rate increases
are baked into investors' plans for the foreseeable future.

Peaking values are another topic most experts discuss.  While prices have reached, or exceeded, pre-recession levels, finding profitable investments at "reasonable" yields remains an elusive goal.  Despite record-pricing, investors still believe more room exists for steadily rising values; inflation and supply-constrained markets are hampered by escalating new-construction costs, making existing properties good value propositions.

The Real Estate Capital Institute's Jeanne Darrow Peck suggests, "people are
now expecting steady rate behavior, perhaps slowing down the pace of yield

Call the Real Estate Capital RateLine at
7RE-CAPITAL (773-227-4825) for free daily rate updates.

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

Jeanne Darrow Peck, Executive Director

NAI Realvest Negotiates Four Leases Totaling More than 10,240 Square Feet at Poinciana CommerCenter in Kissimmee, FL

Kristen Kemp
KISSIMMEE, FL – NAI Realvest recently completed four industrial leases at Poinciana CommerCenter East on Business Center Lane in Kissimmee representing the landlord, Small Bay Partners, LLC of Maitland.  

Michael Heidrich, a principal at NAI Realvest and associate Kristen Kemp brokered a new lease for 3,850 square feet at 1765 Business Center Lane. The local tenant is VR Fabrications, Inc. 

Heidrich also negotiated the lease of 1,890 square feet at 1775 Business Center Lane where Designer Home Furnishings is the new tenant who was represented by Ingrid Volan of La Rosa Realty.

 At 1745 Business Center Lane, Heidrich brokered a new lease of 1,269 square feet for AMI Equipment and Facilities Management, LLC and a lease renewal for Academy of Martial Arts who occupies 3,240 square feet at 1719 and 1721 Business Center Lane

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

Beth Payan, Larry Vershel Communications, 407-644-4142

Avis Budget Group Named Exclusive Rental Partner of Wyndham Rewards; Members Now Earn Double the Points

Parsippany, NJ  — Avis Budget Group and Wyndham Hotel Group today announced the signing of a multi-year partnership agreement, making Avis Car Rental and Budget Car Rental exclusive partners of the newly re-imagined Wyndham Rewards® loyalty program. The new agreement expands the existing relationship between the two companies.

Wyndham Rewards members now earn double the points previously earned per day on eligible Avis and Budget rentals — 100 points daily — while receiving greater access to money-saving offers. Members also have the option of converting Wyndham Rewards points to rental certificates, starting with as few as 6,500 points.

“Wyndham Rewards is all about simplicity, generosity and rewarding those who’ve earned it,” said Noah Brodsky, senior vice president of worldwide loyalty and engagement at Wyndham Hotel Group. “With great vehicles, thousands of locations globally and now double the points, Avis and Budget are the perfect fit for our members.”

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

Rob Myers
Wyndham Hotel Group
(973) 753-6590

Wyndham Hotel Group Bolsters Development Team with the Appointment of Chip Ohlsson as Chief Development Officer

Chip Ohlsson
PARSIPPANY, NJ  – With a continued focus on growing its footprint and brands, Wyndham Hotel Group strengthens its development team with the addition of Chip Ohlsson as executive vice president and chief development officer, North America.

 A seasoned hospitality veteran, Ohlsson brings to Wyndham a deep knowledge of hotel financing, portfolio management, and well-established industry relationships.

“This is more than a welcome, it’s a homecoming for Chip, who began his hospitality career with us selling Howard Johnson® and was part of the Wyndham family for more than 10 years in various roles,” said Bob Loewen, executive vice president and chief operating officer for Wyndham Hotel Group. 

“Our team has driven tremendous growth for our brands, and Chip’s return ensures we continue building momentum across North America.”

Ohlsson rejoins Wyndham Hotel Group as the company renews its focus on building and reinvigorating its portfolio of 15 brands.

In his new role, Ohlsson will drive the development strategy for iconic brands including Days Inn and Super 8 across North America with a focus on proactively identifying and building strategic partnerships to position Wyndham Hotel Group in new markets and to optimize its presence in existing markets.

 He will also be responsible for strengthening and expanding relationships with owners and key ownership groups including real estate investment trusts, developers and financial institutions with hospitality portfolios.
 Additionally, Ohlsson will focus on strengthening and evolving the Hotel Group's development team.

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

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

Wyndham Marks Monumental Milestone, Becomes First Global Hospitality Company to Reach 1,000 Hotels in Greater China

Geoff Ballotti
SHANGHAI, CHINA (September 25, 2015) – Showcasing continued demand for its growing portfolio of iconic brands, Wyndham Hotel Group today marked a monumental new milestone, becoming the first global hospitality company to reach the 1,000 hotel mark in Greater China.

A key region of focus for more than a decade, this landmark achievement comes after years of accelerated growth and the strategic roll-out of six of the company’s 15 brands throughout more than 260 cities and 30 provinces.

“As the largest hotel company in the world and the leading international player in Greater China, today serves as an incredible testament to the strength of the Wyndham Hotel Group portfolio and highlights the increasing significance that China continues to play, not just for our organization but the industry as a whole,” said Geoff Ballotti, Wyndham Hotel Group president and CEO.

“China continues to be on the rise and with a booming middle class that is traveling more and more, we believe there’s no better company as uniquely positioned as we are today to meet their evolving needs.”

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

Ivy Chung
Tel: +8621 3106 9695

Cohn & Wolfe

Tel: +8621 2308 5187 / 2308 5135

Wyndham Hotel Group Continues Russian Expansion with First Hotel in Historic Voronezh

Ramada Plaza Voronezh City Centre, Russia
LONDON, U.K. (22 September 2015) – 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 announced the signing of the 210-room Ramada® Plaza Voronezh City Centre in Russia.

Due to open in October this year, the Ramada Plaza marks the first property for the hotel group in this historic and cultural city, adding to Wyndham Hotel Group’s existing portfolio in the country which includes three further properties in Ekaterinburg, Kazan and at Domodedovo Airport in Moscow.

“Our expansion within Russia through the signing of the newly built Ramada Plaza Voronezh City Centre comes just as the country is reportedly experiencing a rebound in airline passenger traffic,” commented Dan Ruff, Wyndham Hotel Group’s president and managing director, Europe, Middle East, Eurasia and Africa.

“Voronezh is an important historic city, providing a fitting location for our iconic, globally-renowned Ramada brand. Its thriving culture and major centre of higher education attracts a variety of travelers, which Ramada is well placed to serve.”

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

Roz Money
Wyndham Hotel Group
The Triangle, 5 Hammersmith Grove
London, W6 0LG
United Kingdom
+44 20 8762 6600

RealtyTrac Launches Enhanced Marketing List

Rob Barber
IRVINE, CA — RealtyTrac® (, the nation’s leading source for comprehensive housing data, announced the launch of its enhanced Marketing List Lead Generation Platform allowing customers to leverage RealtyTrac’s robust nationwide real estate data on more than 120 million U.S. residential and commercial properties to create targeted marketing lists in a convenient, self-service online interface.

“With RealtyTrac’s proprietary real estate intelligence and extensive mailing list development, you get the data segmentation and modeling information you need to precisely target your outreach and fuel customer acquisition and retention,” said Rob Barber, CEO at RealtyTrac.

“Users can find homeowners nationwide based on geographic and demographic characteristics.  This opens up numerous new marketing list applications for virtually every type of business looking to market its products and services to a specific subset of U.S. property owners.”

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

Ginny Walker
949.502.8300 ext. 268

Essex Realty Group Brokers Sale of 85 Unit Multi-Family Building in Chicago, IL

Brian Kochendorfer
 CHICAGO, IL - Essex Realty Group, Inc. is pleased to announce the sale of 3000 W. Marquette Rd.

3000 W. Marquette Rd. is an eighty-five (85) unit multi-family property that consists of (74) one bedroom, one bathroom, (10) two bedroom, one bathroom, and (1) three bedroom, two bathroom units. 

A garden apartment was remodeled into an on-site management office in 2014. The property includes (3) separate laundry rooms with (2) washers and (2) dryers in each. The property is zoned RT-4 and sits on a 266 x 125 parcel of land.

The sale price was approximately $3,175,000.

Brian Kochendorfer was the broker on the transaction.

Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

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

Douglas Fisher
Essex Realty Group, Inc.

Seven Stone in Atlanta, GA Expands Brand With New Leadership, Website and Showroom

Amy Blanchard Lathi
ATLANTA – Seven Stone, the Southeast’s largest fabricator and installer of premium countertops, continues to enhance its portfolio of offerings and services with an expanded team, interactive website and new showroom.

 On the heels of acquiring Oldcastle Surfaces earlier this year, the company’s newly implemented management team members and online presence are in place and a renovated headquarters at the Atlanta headquarters are all poised to further solidify Seven Stone as a marketplace leader.

“Since our inception, we have aspired to bring the best selection of products and world-class customer service to our customers. Our dedication to that is now evident with our recent launch of our website and digital initiatives, including social media,” said Mark Blanchard, Seven Stone President/CEO.

Led by founder Amy Blanchard Lathi and President/CEO Mark Blanchard, Seven Stone’s management team is comprised of former Oldcastle Surface professionals and new members including Betty Harbourt, VP of Sales and Marketing, who brings 20 years of real estate sales and marketing experience. Additional new management includes CFO Matthew Clark and Brett Gowens, Director of all facility operations.

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

andi hill
liz lapidus pr
772 edgewood avenue ne
atlanta, ga 30307
p 404-688-1466 f 404-681-5204

Mortgage Bankers Association Reports Multifamily Mortgage Debt Hits $1 Trillion in Second Quarter as Commercial/Multifamily Mortgage Debt Continues Upward Trend

Jamie Woodwell
WASHINGTON, D.C. (September 22, 2015)- The level of commercial/multifamily mortgage debt outstanding increased by $38.5 billion in the second quarter of 2015, as three of the four major investor groups increased their holdings.  That is a 1.4 percent increase over the first quarter of 2015.  

Total commercial/multifamily debt outstanding stood at $2.72 trillion at the end of the second quarter.  Multifamily mortgage debt outstanding rose to $1.0 trillion, an increase of $23.6 billion, or 2.4 percent, from the first quarter.

“Rising property values are supporting increased levels of commercial and multifamily mortgage debt,” said Jamie Woodwell, MBA’s Vice President for Commercial Real Estate Research. 

“The total amount of commercial and multifamily mortgage debt outstanding continues to grow at a strong pace, particularly on the multifamily side. For the first time ever, multifamily mortgage debt outstanding now exceeds $1 trillion and is growing at almost 10 percent per year."

The four major investor groups are: bank and thrift; commercial mortgage backed securities (CMBS), collateralized debt obligation (CDO) and other asset backed securities (ABS) issues; federal agency and government sponsored enterprise (GSE) portfolios and mortgage backed securities (MBS); and life insurance companies.

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

Ali Ahmad