Tuesday, January 12, 2016

HFF hires Forrest Bass as a director in its Austin, TX office

Forrest Bass
 AUSTIN, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced Forrest Bass has joined the firm as a director in its Austin office.  Mr. Bass will focus on multi-housing capital markets and investment sales transactions in Austin and throughout Central Texas.

Mr. Bass has more than 10 years of multi-housing experience and most recently worked as a senior director at Berkadia. 

Prior to Berkadia, he held positions at Tarantino Properties and Houston Income Properties in both Austin and Houston.  During his career, he has closed well over $1 billion in apartment sales throughout Texas.  Mr. Bass holds a Bachelor of Business Administration degree with a concentration in Finance from the University of Texas at Austin. 
“We are thrilled to have Forrest join our team.  He has tremendous multi-housing experience and long-standing relationships with many of the apartment operators in Austin and throughout Central Texas.  He is a perfect complement to our existing team,” said Sean Sorrell, senior managing director and co-head of HFF’s Austin office. 

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

HFF secures $95.5 million construction loan for Bellevue, WA office development


Rendering of planned Centre 425, Bellevue, WA      Rendering by Neeoscape
 NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $95.5 million construction loan for Centre 425, a 16-story, 362,988-square-foot, trophy office project with ground floor retail space in Bellevue, Washington.

Jennifer Keller

Working on behalf of Schnitzer West, LLC, a leading West Coast real estate investment and development company, and an institutional investor, HFF placed the loan with a national bank.  This is the second construction financing HFF has secured on behalf of Schnitzer for Seattle-area development projects in the last year. 

Michael Tepedino
Centre 425 broke ground in December 2014 at 425 106th Ave. N.E. at the northwest corner of N.E. 4th Street and 106th Ave. N.E. in the heart of downtown Bellevue. 

The property is situated within two blocks of the Bellevue Transit Center and within four blocks of Interstate 405 on the shores of Lake Washington, about 10 miles east of downtown Seattle. 

Upon completion in fourth quarter 2016, the Class A office development will feature a modern design, flexible floor plates allowing for optimal layouts and innovative workspaces. 

Centre 425 was designed from the inside out and is tailored to support the demanding needs of today’s business.  This starts with an updated version of Schnitzer’s signature “Great Room” concept, named “The Exchange”, a communal collaborative workspace with a variety of meeting rooms and “third-workplace” spaces built into the common areas.

 Schnitzer is also debuting “The Vue”, a spectacular rooftop conference and hospitality center featuring a flexible indoor and outdoor conference center, two beautifully landscaped terraces and panoramic views of Lake Washington, downtown Seattle and Mt. Rainier. 

Tom Wilson
This feature is one of a kind in Bellevue, and will be for the exclusive use of the office tenants in the project.  

Additional building amenities will include a fitness center with locker rooms and wellness center, bike lockers, business center, quiet rooms, concierge service and an eight-level, 739-space subterranean parking garage.

 Centre 425 will have 8,747 square feet of retail space divided into a 6,289-square-foot condominium sold to Bank of America as well as 2,458 square feet of retail space, which is planned to be a high end coffee shop.

The HFF debt placement team was led by senior managing director Michael Tepedino, managing director Tom Wilson and director Jennifer Keller.

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

HFF arranges $23.665 million financing for Market Center in downtown Denver, CO

Market Center, Downtown Denver, CO

Leon McBroom
DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $23.665 million in financing for Market Center, a mixed-use office and retail property totaling 120,736 square feet in downtown Denver.

HFF worked on behalf of the borrower, a joint venture between Urban Renaissance Group, Stars Investments and City Street Investors, to secure the floating-rate financing through First National Denver.

 The 36-month loan has two 12-month extension options and was used to acquire the asset, which HFF marketed to the borrower in September 2015.

Market Center is located on the corner of 17th and Market Streets in Denver’s Lower Downtown (LoDo) submarket providing immediate access to numerous retail, entertainment and dining amenities.

Eric Tupler
 In addition, the transit-oriented property is four blocks from Denver’s Union Station and is near Broadway Street, a major thoroughfare in the central business district. 

Originally constructed between 1872 and 1902 and renovated most recently in 2014, the three- and four-story property encompasses five buildings offering a variety of creative office space totaling 84,515 square feet situated above 36,221 square feet of street- and garden-level retail.

HFF’s debt placement team was led by associate director Leon McBroom and senior managing director Eric Tupler.  Dave Lederhos with First National Denver represented the lender in the transaction.

“The building’s LoDo location and strong submarket metrics combined with ownership’s business plan attracted a wide array of lenders; the financing request received interest from local and national banks, debt funds and life insurance companies,” McBroom said.

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

HFF arranges joint venture equity for self storage development near Houston, TX

Rendering of planned self-storage facility within The Vintage community, Spring, TX

HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged joint venture equity for the development of a Class A, 851-unit, self storage facility within The Vintage master-planned community in the Houston suburb of Spring, Texas.

Barbara Guffey
HFF worked on behalf of the development manager, Vintage Hannah One, LLC, to arrange a joint venture equity partnership with an unnamed partner.

Scheduled for completion in the later part of 2016, the self storage project will consist of four buildings totaling 82,675 rentable square feet.

  Situated on 5.8 acres at 15500 Vintage Preserve Parkway, the storage facility site is located in The Vintage, a 630-acre, master-planned community with restaurants, residences, shopping, healthcare facilities, hotel, seniors housing, lakes and an 80-acre nature preserve, in Spring.

The HFF self storage team representing the development manager was led by director Barbara Guffey.

“The location within The Vintage mixed-use development, along with the strong demographics and numerous rooftops in the immediate vicinity, makes it ideal for a new self storage project,” Guffey said.  “The new state-of-the-art facility will be one of few self storage projects built in the area within the last decade.”

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

Marshall Hotels & Resorts Appoints Patricia Johnson Director of Sales at Hotel Grand Union New York Hotel

Patricia Johnson
SALISBURY, MD —Marshall Hotels & Resorts, a leading hotel management and services company that operates properties nationwide, today announced the appointment of Patricia Johnson as director of sales of the 90-room Hotel Grand Union (HGU).

Situated in the NoMad District at 34 East 32nd Street, the hotel has completed a $15 million renovation and is scheduled to open early 2016.

With more than a decade in the hospitality industry, Johnson has worked with esteemed hotel brands such as the Sheraton and Marriott. Most recently, she served as regional director of sales and marketing for Interstate Hotels & Resorts in New York City.

 In that role, she implemented strategic leadership and analysis in a task force capacity, managing The Renwick, The Gregory, The Roosevelt and NoMo hotels while developing new business and outreach.

Her experience includes a long line of work with well-regarded names such as Warwick New York Hotel, Highgate and Fitzpatrick Hotel Group. Johnson is a graduate of Florida International University, CMP certified and fluent in English, Spanish and French.

“Patricia’s scope of work in the industry reaches across respected hotel names and diverse markets, giving us a strong leg-up for rapid growth when our hotel re-opens,” said Mike Marshall, president and CEO.

Mike Marshall
  “Her level of expertise and strategic leadership, coupled with more than 34 years of Marshall Management’s proven track record, gives us confidence that she is the ideal candidate for the hotel to establish its new image in the most thriving of hotel markets. 

"Boutique hotels are our forte, and we are confident that our role, combined with expert staff, will lead this landmark property to new success.”

            Situated a few minutes away from the Empire State Building, the HGU is located in the heart of Manhattan. The property maintains a Beaux-Arts structure and the cozy feel of an NYC apartment while offering an eco-conscious design that resonates with “history, architecture, art and sustainability on a human scale.”

 The hotel has partnered  with Gallery 151 to showcase contemporary art throughout the halls and rooms, all handpicked.

Guest rooms range from standard queen to king suite and include cozy furniture such as hand-woven Turkish rugs, plush velvet headboards and hand crafted wooden cabinetry. Amenities include monogrammed pillows, luxury 400-thread count bedding, bath and beauty products from C.O. Bigelow Apothecaries and complimentary Wi-Fi. Pads will be provided for each room.

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

Sonia Abdulbaki, media
Daly Gray Public Relations
(703) 435-6293

Questex Hospitality Names Glenn Haussman Editor-at-Large of Hotel Management

Glenn Haussman
 New York City, NY, Jan. 12, 2016—Officials of Questex Hospitality Group, a division of Questex, LLC, the world’s largest multi-media organization dedicated to travel and lodging, today announced that Glenn Haussman has been named editor-at-large of Hotel Management, the leading provider of hospitality industry news, analysis, trends, finance, business, design and people for hotel-motel management.

Haussman will be responsible for providing editorial content and direction for the magazine, as well as serving as a co-host and moderator of the group’s ongoing HOTEC conferences for hoteliers. 

Online sites for Hotel Management, Hotel Design and IHIF Investment News: hotelmanagement.net, hoteldesignmagazine.com and ihif.hotelmanagement.net.

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

Chris Daly, media
 (703) 435-6293

New Castle Enters Growing Milwaukee Market with Acquisition of Hampton Inn and Suites in Downtown Milwaukee, WI

David Buffam
 SHELTON, CT —Officials of New Castle Hotels & Resorts, a leading hotel owner, operator and developer, announced the acquisition of Hampton Inn and Suites, Milwaukee Downtown. 

Centrally located at 176 W. Wisconsin Ave. and adjacent to the city’s Riverwalk, the 138 key hotel marks New Castle's first acquisition of the New Year.  The hotel will complete underway systems upgrades while remaining operational.

"With strong revenue management and some overdue infrastructure upgrades, this hotel has tremendous upside potential," said David Buffam, CEO of New Castle Hotels & Resorts.  "We continue to seek out opportunities for New Castle to expand its footprint beyond its predominantly east coast presence and this hotel meets all of our investment objectives."

Gerald Chase
“New Castle has a long track record operating in southeastern Wisconsin, and recent developments including the new $75 million Dollar General distribution center in Janesville and Amazon.com’s facility in Kenosha point to good economic times ahead," said Gerry Chase, president and COO of New Castle. 

"In our new neighborhood, forward-thinking residential projects like MKE Lofts, luxury apartments adapted from an historic building, and Northwestern Mutual’s long term commitment to commercial and residential development all indicate a dynamic and growing downtown. 

“Milwaukee’s strong food and beer scene have helped to make this the second most popular city in the Mid-West.  We are very much looking forward to being part of this vibrant community.”

For a complete copy of the company’s news release, please contact:
Lauralee Dobbins
Write Touch Public Relations