Saturday, January 23, 2016

35 Hotels Inducted into Historic Hotels Worldwide in 2015


 
Lawrence Horwitz
WASHINGTON, DC – Historic Hotels Worldwide™ added more than 35 historic hotels in 2015. Hotels designated to join the prestigious Historic Hotels Worldwide registry range from over 600 years old to 75 years old. 

These new additions represent six countries, including Vietnam, Italy, and Mexico. The oldest historic hotel inducted in 2015 is Bernini Palace Hotel that dates back to the 15th century.

Historic Hotels of Worldwide is the official program of the National Trust for Historic Preservation (United States of America) for recognizing and celebrating the finest Historic Hotels around the globe.

  “We are delighted to recognize and celebrate these historic hotels. Many were built for another use and subsequently have been preserved by converting to use as a hotel,: said Lawrence Horwitz, Executive Director, Historic Hotels of America and Historic Hotels Worldwide.

“Each hotel has numerous fascinating stories and many unique and iconic architectural features to experience. Each historic hotel allows travelers to discover, explore, experience, and share the past in a very unique way. Congratulations to these hotels.” 

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

Lauralee Dobbins
609-451-5102
856-979-8929 (mobile)
Member SATW, PRSA

Twitter @AHotelPRo

The Habitat Company in Chicago, IL Recognized in Fight Against Homelessness with ‘Good Neighbor Award’ from The Cara Program


Crystal Davis Owens
CHICAGO, IL – Chicago-based The Habitat Company, a leading multifamily property developer and manager in the United States and the largest property manager for the Chicago Housing Authority (CHA), was this year’s recipient of the Good Neighbor Award by The Cara Program, a Chicago-based charitable organization focused on helping individuals affected by homelessness and poverty through job training and coaching.

Since Habitat first partnered with The Cara Program in 2009, the company has employed 88 Cara students, and currently has a one-year retention rate of more than 76 percent. This is Habitat’s first time winning the Good Neighbor Award.

Matt Fiascone, president of The Habitat Company, accepted the award at a recent luncheon honoring employed Cara students and the corporate and community partners that have been instrumental in their success.

“We are so proud to be a part of the great work The Cara Program does for Chicago residents,” said Fiascone. “The partnership is truly a mutually beneficial relationship. Cara students are presented with a meaningful job opportunity and Habitat gains access to a pool of employees who have had best-in-class job training and demonstrated a commitment to working hard to achieve their goals. We see it as a win-win for both sides.”

Matthew Fiascone
 One Cara graduate who benefited from the program was Crystal Davis Owens, a current Habitat employee who was on hand at the ceremony. 

Owens was hired by Habitat in 2010 as an administrative assistant at the Lidia Pucinska Apartments, one of Habitat’s CHA-managed public housing communities. In just five years, she has risen through the ranks to her current role as property manager at a 357-unit CHA community on Chicago’s north side.

“I am so grateful to The Cara Program and Habitat for giving me the opportunity to grow, both personally and professionally, through training, hard work and dedication,” said Owens.

“Crystal is just one brilliant example of why we support the Cara Program,” said Fiascone. “The training she received through The Cara Program, coupled with her own drive to succeed, has made Crystal a very valued member of the Habitat team. We look forward to continuing this partnership for many years to come.”

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

Cara Mooses, cmooses@taylorjohnson.com, 312.267.4523
Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527


Lexington Homes Opens Three Decorated Townhome Models at Lexington Crossing in Rolling Meadows, IL


Jeff Benach
CHICAGO, IL – Chicago-based Lexington Homes announces it has opened three decorated model homes at Lexington Crossing, a community of 54 townhomes in the heart of northwest suburban Rolling Meadows. Sales at the community are underway, with first move-ins scheduled for April 2016.

Located at the intersection of Kirchoff and Library roads – a half-mile east of Route 53 and less than five minutes from Interstate 90 – Lexington Crossing combines suburban convenience with urban style. 

“The new model homes at Lexington Crossing demonstrate our commitment to providing thoughtfully designed homes enhanced by cutting-edge interior d├ęcor that far exceed the expectations of potential buyers,” said Jeff Benach, co-principal of Lexington Homes.

 “Features and finishes that might be considered an upgrade in a typical new-construction community in this area come standard at Lexington Crossing, which equates to thousands of dollars in savings.”
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  For a complete copy of the company’s news release, please contact:

Kelly Shumaker, kshumaker@taylorjohnson.com, 312-267-4519

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

First Move-Ins Begin at Northgate Crossing Luxury Rentals in Wheeling, IL

                        
Matt Nix
CHICAGO, IL – Chicago-based REVA Development Partners has announced the first move-ins at Northgate Crossing, a 288-unit luxury rental community in north-suburban Wheeling, Ill.

Conveniently located between Lake Cook and Dundee roads on Northgate Parkway, Northgate Crossing is part of the village’s ongoing redevelopment effort for its town center district, which is anchored by the municipal campus, fitness and aquatic centers, large-scale Heritage Park redevelopment and an existing Metra Station.
  
“Northgate Crossing answers the high demand among apartment hunters in the area who are seeking the flexibility and amenities of a rental community, yet are not willing to compromise on luxury finishes and quality design,” said Matt Nix, principal of REVA Development Partners. 

“We’re looking forward to welcoming as many young singles and professionals as we are families, downsizers and transferees.”

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

Sara Williams, swilliams@taylorjohnson.com, (312) 267-4510

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

Charles Dunn Co. Completes Sale of Single-Tenant Retail Property Occupied by Jack in the Box in Culver City, CA


Jack in the Box Restaurant, 5400 Sepulveda Boulevard, Culver City, CA

 
Ashley Saye
LOS ANGELES, CA – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $2,125,000 all-cash sale of a single-tenant, 9,309-square-foot retail property occupied by Jack in the Box in Culver City, Calif.

Located at 5400 Sepulveda Blvd., Jack in the Box has been a tenant since the property was built in 1963 and was one of the first Jack in the Box restaurants to open in California.

Justin Mendelson and Ashley Saye of Charles Dunn Company represented the seller, a partnership of two family trusts and two charitable organizations. Jack in the Box, Inc. a Delaware Corporation, exercised its right of first refusal after Charles Dunn sourced the original buyer. The close of escrow occurred in just ten days. 

 “This is the first time the property has been available for purchase since 1963,” said Mendelson. 

“Jack in the Box exercised its right of first refusal to acquire this asset at near the original asking price. Jack in the Box does not typically elect to purchase a store unless the location is irreplaceable and the sales are extremely strong, which was likely the case for this particular restaurant.”

Justin Mendelson








“Ideally situated at the hard corner, signalized intersection of Sawtelle and Sepulveda Boulevards, this free-standing property is within one of the most highly coveted locations for retail investment in all of Los Angeles,” noted Saye. 

“It is in the heart of a busy retail corridor and is within a submarket of Los Angeles that has experienced new development over recent years.”

Charles Dunn Company has been active in sales within the single-tenant net lease sector throughout Los Angeles and recently completed the sale of another well-located national quick service restaurant property nearby. 

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

Darcie Giacchetto
949.278.6224




Berkadia Negotiates $66.3 Million in Multifamily Sales in Birmingham, AL

  
The Cliffs at Rocky Ridge Apartments, Birmingham, Al

 
David Oakley
BIRMINGHAM, AL --- Berkadia recently negotiated the sale of the BHM 3Core Portfolio and The Cliffs at Rocky Ridge located in the Birmingham metropolitan area.  

Managing Director David Oakley and Senior Director David Etchison of  Berkadia’s Alabama office negotiated the transaction. 

The BHM 3Core Portfolio and The Cliffs at Rocky Ridge sold for more than $66 million combined, at a blended 5.7 percent cap rate.

The BHM 3Core Portfolio sale involved three multifamily assets across the Birmingham metro region – The 241 unit Abbey at Wisteria Crest is a garden-style community located in Hoover. 

The property was built in 1972 and renovated in 2008 and 2014; Abbey at Lakeshore, built in 1971 with 198 units was renovated in 1998 and 2015; 

The Abbey at Vestavia Falls is a 120-unit, three-story apartment property located in Vestavia, built in 1972 and renovated in 1998 and 2015. 

Add caption
In a separate transaction, the sale of the 323-unit Cliffs at Rocky Ridge closed.  The Hoover property was built in 1975 and renovations took place in 2005 and 2014. 

Oakley and Etchison have been leaders in multifamily brokerage and advisory services throughout Alabama and the Southeastern United States.  The Alabama team at Berkadia led the state in annual multifamily sales volume over the past five consecutive years, facilitating over 200 apartment transactions totaling over $2 billion. 


Berkadia is one of the nation’s largest and most active multifamily investment banking and research companies.


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


Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com

Crossman & Co. negotiates four leases at East and Southeast Orlando, FL Retail Centers

  
 
Tyler Wilkins
ORLANDO, FL – Associate Tyler Wilkins of Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently negotiated four leases at East and Southeast Orlando commercial centers representing the Orlando-based landlords.

Ely Tax Service and China-Japan Restaurant are the two new tenants at Shoppes at Andover located at 3020 Lamberton Blvd. off SR 50 in east Orlando.  Ely Tax leased 1,233 square feet and China-Japan brought the 21,600 square foot center to 100 percent occupied with its lease of 1,750 square feet.    

Minnesota-based Supercuts leased 1,300 square feet at Cornerstone at Lake Hart, 10615 Narcoossee Rd. in Southeast Orlando.  That deal brought the 78,241 square foot center to 100 percent fully leased.

NY Barbershop renewed their lease of a 960 square foot suite at Shops at Avalon Chase in East Orlando’s Avalon Park.

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

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644 4142 or
 407-461 3781 lvershelco@aol.com


Capital Square 1031 Acquires Perry Place Apartments in Richmond, VA


Yogi H. Singh
RICHMOND, Va. (Jan. 21, 2016) - Capital Square 1031 announced today that the company has acquired Perry Place Apartments, a 70-unit historic loft style apartment community located in Richmond, Va.

Perry Place is a two-story building located at 815 Perry St., within Richmond’s expanding Manchester Arts District. The historic and recently renovated building is situated on approximately 1.24 acres of land.

The units range in size from studio to three-bedroom apartments, with views of the James River and downtown skyline. The property also includes a community club room and 70 parking spaces.

“Perry Place is located in a growing, historic area with an abundance of neighborhood amenities and convenient access,” said Louis Rogers, founder and chief executive officer of Capital Square 1031. “It is in close proximity to Richmond’s central business district, providing many convenient employment opportunities for residents, with unique and architecturally appealing units.”

Property amenities include 24-hour controlled access, an outdoor swimming pool, community roof deck area, fitness center and on-site parking. Perry Place is less than 1.5 miles from the Wells Fargo and Bank of America towers in Richmond’s central business district and is adjacent to the headquarters of SunTrust Mortgage, a Fortune 500 company.

Louis Rogers
Originally constructed in 1912 and recently renovated, Perry Place Apartments was 100 percent occupied at the time of the acquisition.

“Richmond is a thriving city with a diversified and growing economy,” said Yogi Singh, director of acquisitions with Capital Square. “We are excited to add this well positioned apartment community to our growing portfolio.”

The capital of the Commonwealth of Virginia, Richmond’s economy is driven by government, higher education, finance, law and biotechnology. 

The city ranked second on National Geographic’s list of “Where to Travel for Food in 2016,” and third on Travel + Leisure’s global list of “Best Places to Travel in 2016.”

 A total of six Fortune 500 companies are based in greater Richmond, and three other companies have a large presence in the area. The area’s higher education offerings include 10 four-year institutions and 13 two-year institutions.

Capital Square 1031’s real estate portfolio includes 39 properties valued at approximately $370 million.
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For a complete copy of the company’s news release, please contact:

Julie Leber
Spotlight Marketing Communications
949.427.5172, ext. 703



HFF arranges $150 million refinancing for Block 21 mixed-use development in Austin, TX


Block 21 Development,  200 Lavaca Street,
 Downtown Austin’s 2ND Street District,

 
Whitaker Johnson
DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $150 million refinancing for Block 21, a mixed-use development containing the 251-room W Austin Hotel & Residences, 2,750-seat Austin City Limits Live at The Moody Theater music and events venue (ACL Live) and almost 60,000 square feet of Class A office and retail space in downtown Austin, Texas.

HFF worked on behalf of the borrower, Stratus Properties Inc., to place the 10-year, fixed-rate loan with Goldman Sachs.  Loan proceeds were used to refinance existing debt.  

Block 21 features panoramic views of Lady Bird Lake (formerly Town Lake), the Texas Hill Country and downtown Austin, a city known as the “Live Music Capital of the World.”  The property is located at 200 Lavaca Street in downtown Austin’s 2ND Street District, an urban neighborhood with 225,000 square feet of retail, restaurants, entertainment venues and residences.

 The development is within walking distance to the lake and its surrounding outdoor and recreational space, Austin City Hall, the Sixth Street entertainment district and the Austin Convention Center.

Completed in 2010, the 37-story Block 21 is LEED Silver certified in addition to being certified by the Austin Energy Green Building Program.

Lady Gaga
 The W Austin Hotel & Residences features 10,500 square feet of meeting space, the AWAY Spa, WIRED business center, WET outdoor pool and bar, FIT fitness center, rooftop pool and cabanas, TRACE restaurant and The Living Room lobby bar and cocktail lounge. 
  
The AAA Four Diamond hotel’s 251 guest rooms include 32 suites in the lower portion of the tower.  Not included in the financing are the 159 residential condominiums that comprise the upper portion of the tower. 

Block 21 is home to ACL Live, which functions as a live music venue, high definition production studio and private events space on the second through fourth floors of the building.  The venue floor is 9,600 square feet and can accommodate general admission of 2,750 people and up to 3,000 for special events. 

John Bourret

It’s the site of the KLRU-TV produced PBS program Austin City Limits, the longest-running music series in American television history, which has hosted acts like Sting, Coldplay, Jay-Z, and Lady Gaga and Tony Bennett

 In 2014, the venue was named “Venue of the Year-Small Capacity” by the Academy of Country Music. 

The year ACL Live opened, it won the 2011 Pollstar Award for “Best New Major Concert Venue”.  

Block 21 has 18,327 square feet of ground floor retail space that is 98.6 percent leased to Urban Outfitters, Starbucks and Willie’s Roadhouse Sirius XM station, and 39,328 square feet of fully leased office space.
  
The HFF team was led by senior managing director Whitaker Johnson and managing director John Bourret.

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

Kristen M. Murphy
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 closes sale of 5-property West Los Angeles office portfolio

  
Ryan Gallagher
LOS ANGELES, CA –- Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of a five-property, approximately 350,000-square-foot office portfolio in West Los Angeles, California.

HFF represented the seller in the transaction.  Jade Enterprises purchased the portfolio for an undisclosed amount free and clear of debt.

The 91-percent-leased, recently-renovated portfolio consists of Beverly Atrium at 350 South Beverly Drive in Beverly Hills; 2730 Wilshire Boulevard in Santa Monica; 1950 Sawtelle Boulevard and 11075 Santa Monica Boulevard in Los Angeles; and Bristol Plaza at 6167 Bristol Parkway in Culver City.

 All of the properties have easy access to the 1-10 (Santa Monica Freeway) and the 1-405 (San Diego Freeway) and are about 15 minutes from the Los Angeles International Airport and the Santa Monica Airport.  

The HFF investment sales team representing the seller was led by senior managing directors Ryan Gallagher and Todd Tydlaska and director Andrew Harper.

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

Kristen M. Murphy
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