Saturday, January 30, 2016

Chatham Lodging Trust Announces 2015 Distribution Characterization

Jeffrey H. Fisher
WEST PALM BEACH, FL --Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale extended-stay hotels and premium-branded, select-service hotels, announced the characterization of dividends declared in 2015 on its common shares for federal income tax reporting purposes.

Chatham Lodging Announces Fourth Quarter Earnings Call to be Held on Wednesday, February 24, 2016

WEST PALM BEACH, FL —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, announced that it will report fourth quarter 2015 financial results on Wednesday, February 24, 2016, before the opening of the market. 

That same day at 11:00 a.m. ET, Jeffrey H. Fisher, Chatham’s chief executive officer, Dennis M. Craven, executive vice president and chief operating officer, and Jeremy Wegner, senior vice president and chief financial officer, will host a conference call to review fourth quarter 2015 financial results.

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

Patrick Daly
Office Manager
Daly Gray, Inc.
Office:  (703) 435-6293

Cell:  (703) 300-8289

Marcus & Millichap Arranges $1.4 million Sale of 10-United Santa Marta Apartments in Miami, FL

Santa Marta Apartments, 1621 SW Third Street, Miami, FL

Evan P. Kristol
MIAMI, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Santa Marta Apartments, a 10-unit apartment property located in Miami, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $1,400,000 equating to $140,000 per unit.

Evan P. Kristol, a senior vice president investments, Felipe J. Echarte, a vice president investments, and Alejandro J. Gonzalez, an associate, all in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a limited liability company from Miami, and the buyer, a private investor from Miami Beach.

“Our exclusive marketing campaign generated multiple offers and resulted in the highest price per unit sale of properties built between 2006 and 2009 in the area,” says Gonzalez.

Built in 2008 on a 0.17-acre lot, Santa Marta Apartments is comprised of six one-bedroom/one-bathroom units and four two-bedroom/one-and-a-half-bathroom units.

Santa Marta Apartments is located within the Little Havana submarket, with convenient access to The Dolphin Expressway, Interstate 95 and Southwest 8th Street.  The property is located at 1621 Southwest 3rd Street in Miami. 

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

Ryan Nee
Regional Manager
 Fort Lauderdale, FL

(954) 245-3400

HFF closes sale of Circa at FishHawk Ranch in Lithia, FL

Circa at FishHawk Ranch Apartments, Lithia, FL
                                                                                        (photographer: Chris Stevens, C2 Design Group).

Matt Mitchell
TAMPA, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Circa at FishHawk Ranch, a 260-unit, Class A garden-style multi-housing community located in Lithia, Florida.

HFF marketed the offering exclusively on behalf of the developer, a joint venture between North America Sekisui House, LLC (NASH) and Newland Communities.   Inland Real Estate Acquisitions, Inc. facilitated the purchase of Circa at FishHawk Ranch for an Inland-related party.

Circa at FishHawk Ranch is located at 5881 Spector Road within the 4,100-acre FishHawk Ranch master planned community, which is approximately 20 miles southeast of downtown Tampa.

 Positioned in the heart of the community’s Village Center – which is currently under development and once complete will feature retail, dining and medical office space – Circa at FishHawk Ranch is walkable to top-rated schools and the Florida headquarters of Mosaic (NYSE: MOS).  Completed in November 2015, the property has one-, two- and three-bedroom units averaging 1,045 square feet each.

Matthew Lawton

 The amenity-rich community features a resort-style swimming pool with sundeck and cabanas; outdoor pavilion and kitchen with bar, grills, screened-in party room with billiards, ping pong and shuffleboard; state-of-the-art fitness center with cardio/weight room, spin studio, yoga area and children’s playroom; clubroom with flat screen televisions; internet cafĂ© and social lounge with coffee station; conference room; pet spa facility; condo-quality interior finishes; and attached/detached garage parking.

The HFF investment sales team was led by managing director Matt Mitchell, executive managing director Matthew Lawton and associate director Zach Nolan.

“Suburbs like FishHawk Ranch have been particularly starved for new supply so properties like Circa are filling a void in the market for people who want to enjoy a high-quality, suburban lifestyle, but don’t need or want to own a 3,000-square-foot house,” said Mitchell.

 “In Tampa, these types of assets are attractive to investors because of strong fundamentals, job growth, an expanding population and a manageable supply pipeline.”

“Working with HFF made this complicated deal easier to purchase,” said Joe Cosenza, president of Inland Real Estate Acquisitions, Inc., and vice chairman of The Inland Real Estate Group, Inc. “This luxury apartment community met our criteria of being newly constructed, ideally located and well occupied, and we will continue to look for similar properties in the new year.”

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 |

WNC Closes $114.7 Million Institutional LIHTC Fund Covering 24 properties in 11 States

Christine Cormier

IRVINE, CA – WNC, a national investor in real estate and community development initiatives, announced it has closed WNC Institutional Tax Credit Fund 41, L.P. (WNC Corp. 41), a $114.7 million institutional low-income housing tax credit (LIHTC) fund.

Estimated to include 1,674 affordable housing units in total, WNC Corp. 41’s portfolio is comprised of 24 family and senior housing communities scheduled for new construction and rehabilitation.

The properties will be located in 11 states, including Arkansas, California, Louisiana, Minnesota, Missouri, Montana, New Mexico, Tennessee, Texas, Washington and Wisconsin.

“WNC Corp. 41 is comprised of approximately equal amounts of new construction and rehabilitation projects, helping to not only deliver additional units to those in need, but to also preserve existing units in our nation’s already limited supply,” said WNC Senior Vice President of Investor Relations, Christine Cormier.

 “In addition, this fund includes approximately 93 percent repeat development partners, which speaks volumes to the success of the LIHTC program over the course of three decades. We are thrilled to continue our partnerships that pursue the growth of the nation’s existing affordable housing supply, and look forward to partnering with new developers in our quest.”

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

Julie Leber
Spotlight Marketing Communications
949.427.5172, ext. 703 

Meriwether & Tharp and CorTrans Lease 20,251 Square Feet at Upgraded 6465 East Johns Crossing in Johns Creek, GA

Michael Howell
 ATLANTA, GA – Lincoln Property Company (Lincoln) and Glenfield Capital recently completed a long-term lease with the fast-growing law firm of  Meriwether & Tharp, LLC, consisting of 11,037 square feet at the recently renovated 6465 East Johns Crossing in Johns Creek, Georgia.

Michael Howell, Hunter Henritze and George Gwaltney of Lincoln represented the landlord in the transaction, and Joseph Grace and Andy Roberts of Cresa represented the tenant.

“East Johns Crossing is now widely considered the premier building in Johns Creek and offers access to incredible amenities including the adjacent Lifetime Fitness, a lakeside walking path with fitness stations and an outdoor patio overlooking a two-acre lake,” Henritze said. 

“With the recent improvements to the building, we believe 6465 East Johns Crossing will continue to attract top tenants in the coming year.”

Hunter Henritze

“The leasing success is attributed to a great leasing team coupled with the finest building in the Johns Creek submarket,” stated James Cate, managing principal of Glenfield Capital, the current owner. “The investment we made in the renovation turned out better than anticipated and the market is responding. ”

Additionally, CorTrans Logistics has committed to keeping its headquarters at 6465 East Johns Crossing, with a long-term extension for its 9,214-square-foot lease at the property. CorTrans Logistics’ senior management committed to the building after a long search.

6465 East Johns Crossing, is a 100,000-square-foot, Class A four-story office building. Glenfield Capital recently completed a significant renovation of the lobbies on the first and second floors, including upgraded accent lighting and installation of a new digital tenant directory, as well as a landscaping overhaul.

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

Savannah Durban
The Wilbert Group

Multi Housing Advisors Brokers $18.2 Million Sale of Apartment Community in Savannah, GA

Robert Stickel
ATLANTA, GA — Multi Housing Advisors (MHA) has arranged the $18.2 million sale of Clover Village at Vernon Marsh and White Bluff. The two properties, built in 1986 and 1985, respectively, are comprised of 298 units and are located in Savannah, Georgia.

Robert Stickel, who leads MHA’s central to coastal Georgia deal team, represented the seller, Clover Group, Inc. McDowell Properties purchased the property.

“Vernon Marsh and White Bluff are well-located, infill assets in Savannah,” Stickel said. “High barriers to entry in this submarket are creating exceptional apartment fundamentals and an ideal environment for value-add opportunities, which increase the investment capital flowing to this quality area.”

Clover Village at Vernon Marsh and White Bluff are located along White Bluff Road at the intersection of Abercorn Street and Harry Truman Parkway, providing easy access to both Savannah’s Southside submarket and Downtown district.  

The properties feature large floorplans, many with marsh views, creating a unique living experience for residents and upside potential for future ownership.

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

Deborah Rogers
Multi Housing Advisors

Hold-Thyssen Negotiates Long Term Lease with Expanding San Diego based Software Firm at Phillips Place in Southwest Orlando, FL

Darby Hold
ORLANDO, FL--- Hold-Thyssen, a real estate services firm headquartered in Winter Park, recently negotiated a four year four month lease for 2,091 square feet of professional office space at Phillips Place, 7575 Dr. Phillips Blvd. in Southwest Orlando. 

Darby Hold, transaction specialist for Hold-Thyssen, Inc. negotiated the transaction representing the landlord, Financial Way Realty, Inc. of Cincinnati. Colin Morrison with Colliers International represented the Tenant.

The Experience Engine, a computer software company based in San Diego and specializing in theme parks, universities and hotels is the new tenant.  The Experience Engine, with 20 years of creativity and technical innovation in the global technology industry, has expanded their expertise to the Orlando-Central Florida market.  

Hold-Thyssen, Inc. is the leasing and management representative for the 56,000 square foot Phillips Place Office Building, which is now 89 percent leased

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

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142

Hold-Thyssen Negotiates Unique Transactions in New Port Richey, FL

Carol L. Kinnard
New Port Richey, FL --- Carol L. Kinnard, transaction specialist at Hold-Thyssen, a commercial real estate services firm with offices in Tampa, recently negotiated a long-term lease agreement for a build-to-suit medical office at Deer Park Center, 5140 Deer Park Drive in New Port Richey. 

Florida Hospital North Pinellas (Adventist Health Systems) and Innovative Healing Systems sought a presence in the Trinity market for wound care services and Kinnard represented the tenants in negotiations with the landlord, TB Deal, LLC, to build a 5,000 square foot free-standing professional office building at Deer Park Center.  

Kinnard also brokered the sale of a quarter-acre parcel of undeveloped land at the SE corner of SR 54 and Swan Drive for $40,000.   The original parcel was reduced in size due to arterial widening leaving it with difficult ingress/egress.  The Palm Harbor-based sellers, Lalit K. and Anubha Gupta, sold the property to Colonial Hills Civic Association, Inc. who will use it to enhance its entryway into the community. 

Hold-Thyssen, Inc. provides commercial property and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more than100 commercial properties throughout the United States.

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

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142