Tuesday, April 5, 2016

BKM Capital Partners Acquires Four Light Industrial Business Parks in Phoenix Metro for BKM Industrial Value Fund I


Rose Garden Business Park, Phoenix, AZ

            PHOENIX, AZ – BKM Capital Partners, an institutional fund manager with a niche focus on value-add, multi-tenant light industrial, has acquired four industrial business parks encompassing 442,173 square feet in the Phoenix metro area for a total consideration of $34.45 million.

 The firm, which recently announced the final close of its debut institutional fund, BKM Industrial Value Fund I L.P., now has more than $150 million in assets under management.

Brian Malliet
“The ability to source off-market opportunities in the current market is what sets a good fund manager apart,” says Brian Malliet, CEO and Co-Founder of BKM Capital Partners, who notes that a recent report by Preqin indicated that finding investment opportunities would be the most difficult challenge for private real estate managers in 2016. 

“We are bucking the trend,” Malliet says.  “As opposed to a slowdown, we are nurturing a growing pipeline of off-market investment opportunities, and have already invested roughly 50 percent of our equity in assets just six weeks after the Fund closed.

“ The off-market acquisition of these four high-quality properties in the dynamic Phoenix market will add deep value to our growing portfolio, and we are eager to demonstrate proven returns in our multi-tenant light industrial product niche.”


BKM Capital Partners’ recently acquired properties include the Rose Garden Business Park, Metro Industrial Center, and 4100 Broadway in Phoenix, as well as the Arizona Corporate Center in Chandler, Arizona.  

With these acquisitions, the firm now has nearly one million square feet under management in the Phoenix market.

BKM acquired the four assets in a portfolio transaction from a private Los Angeles-based owner.  With this portfolio of assets, BKM now boasts 11 assets in the BKM Industrial Value Fund I with four more assets in escrow at roughly $25 million combined.

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

Lexi Astfalk/Jenn Quader
Brower, Miller & Cole
(949) 955-7940


Hotel Expert Robin L. Webb to Present Hotel Lodging Forecast 2016 at Ramada Gateway Hotel in Kissimmee, FL April 14


Robin L. Webb
ORLANDO, FL -- The Hotel Sales Team at NAI Realvest in conjunction with Gulati Law and Ramada Gateway Inn is sponsoring The Hotel Lodging Forecast 2016 and Beyond  Thursday April 14 at the Ramada located at 7470 Irlo Bronson Memorial Hwy (US 192) in Kissimmee.

Veronica Malolos, part of NAI Realvest’s Hotel Sales Team and one of the organizers of the event, said everyone involved in the hotel and hospitality industry is invited for an opportunity to network following Hotel Expert Robin L. Webb’s presentation and forecast on the next chapter for hospitality in Central Florida.  

The agenda will begin at 5:30 p.m. with networking and hors d’oeuvres. Webb’s Hotel Lodging forecast presentation will begin at 6:30 p.m. followed by a panel Q&A presented by Webb and Attorney Sara Gulati.  The presentation will adjourn at 8:30 for more networking.

Educated at Georgia State University in Atlanta, Webb got his start in the hotel industry as Director of Sales at the Royal Coach Inn in Atlanta and soon after as vice president for Olaf Lambert & Co. managing 28 hotels throughout the Southeast.


Webb has also been a principal in a number of hotel investments, has extensive experience opening numerous properties from budget motels to such luxurious hotels as the Sheraton Olympic Villas in Orlando and the Augusta and Birmingham Hiltons.  He also served for 15 years as president of American Hospitality International, Inc.

In addition to receiving the CCIM designation, Webb is both a certified property manager (CPM) and a certified hotel administrator (CHA) with over three decades of operations experience.

Veronica Malolos
Please R.S.V.P. to NAI Realvest by April 11 at vmalolos@realvest.com, or 407-875-9989.   For more information about the event, contact Malolos 407-949-0717.

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


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

$187 million sale of 100 East Pratt Street in Baltimore, MD closed by HFF


100 East Pratt Street, Inner Harbor Area, Baltimore, MD
WASHINGTON, DC -- Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of 100 East Pratt Street, a 662,708-square-foot, trophy office tower overlooking Baltimore’s Inner Harbor. 

HFF represented the seller, Columbia Property Trust, in the transaction.  Vision Properties purchased the iconic asset for $187 million.

100 East Pratt Street is the long-time headquarters of global investment management firm T. Rowe Price, which leases 65 percent of the 98.5-percent-leased building.  

Additional key tenants include PriceWaterHouseCoopers, Merrill Lynch and Tydings & Rosenberg.

 Located at the intersection of Pratt and Light Streets, 100 East Pratt Street sits at downtown Baltimore’s “main and main” location close to the amenities of Harborplace and The Gallery in addition to the multitude of other dining and retail options in and around the Inner Harbor and along Pratt Street.  

The sale also included the property’s 932-space parking garage. 

The HFF investment sales team representing the seller was led by Stephen Conley, Jim Meisel, Dek Potts, Andrew Weir and Matt Nicholson.

 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



Sale of Hampton Inn in Portsmouth, NH closed by HFF


Hampton Inn Portsmouth Central Hotel, Portsmouth, NH


Denny Meikleham
BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of the Hampton Inn Portsmouth Central, a 125-room hotel located off the Spaulding Turnpike in Portsmouth, New Hampshire.

HFF marketed the property on behalf of the seller, Mercury Investment Co.

  Giri Hotels purchased the asset for an undisclosed amount, with the acquisition financed by Kennebunk Savings, a full service mutual savings bank with offices in Rockingham and Strafford Counties and throughout Southern York County, Maine. The property is unencumbered by management.

The Hampton Inn Portsmouth Central is located at 99 Durgin Lane, adjacent to and visible from the Spaulding Turnpike, and close to the Interstate 95 interchange in Portsmouth.  

Local demand drivers include downtown Portsmouth; Pease International, a 3,000-acre community home to more than 250 companies and the Portsmouth International Airport; the University of New Hampshire; and The Kittery Outlet Mall.  The hotel offers guests complimentary breakfast, complimentary shuttle service, an indoor pool and whirlpool, sports court, fitness room, business center and hospitality room. 

The HFF investment sales team representing the seller was led by managing director Denny Meikleham and director Alan Suzuki.

 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

New Wet Lab Space, part of $5 Million Expansion and Renovation of UCF Business Incubator in Research Park, Orlando, FL, already fully occupied

                                                                             

Carol Ann Dykes
ORLANDO, FL -- The long awaited wet lab¹ space at the UCF Business Incubator at Research Park opened and four client start-up companies moved in almost immediately.

Carol Ann Dykes, site manager for the Research Park incubator, said the wet lab space allows the innovative companies to expand their R&D operations.  

The new state of the art wet lab is an endeavor that’s been five years in planning and it’s already fully occupied. 

The $5 Million 49,000 square foot renovation project at the Incubator is totally complete after 14-months and the unveiling was recently held for local officials, partners and vendors.

The Research Park incubator houses nearly 50 early stage technology and soft landing client companies.  

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

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com

Carol Ann Dykes, Site Manager, UCF Business Incubation Program, 407-207-7426 carolann.dykes@ucf.edu



Sedgwick Properties Breaks Ground on 60 Luxury Apartments at 1325 N. Wells Street in Chicago’s Old Town Neighborhood


 
Marty Paris
 CHICAGO, IL – Developer Sedgwick Properties has broken ground on a 60-unit luxury apartment building in Chicago’s Old Town neighborhood, expected to deliver in the spring of 2017.

Located at 1325 N. Wells St., the seven-story building will offer a mix of one-, two-, and three-bedroom luxury apartment rentals, with individual units ranging from 601 to 1,400 square feet.

“With a highly sought-after location in the heart of Old Town, 1325 N. Wells St. will offer residents a strong, vibrant Chicago neighborhood just steps from some of the city’s most popular dining, nightlife and recreational attractions, along with easy access to the Loop and Chicago’s central business district,” said Marty Paris, president of Sedgwick Properties.

 “For those seeking the active, urban lifestyle the Near North Side offers, this building will truly provide residents the best of both worlds. Old Town is one of Chicago’s most established neighborhoods, making it a highly desirable location for residents seeking new luxury development.”

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

Lehia Franklin Acox, lfacox@taylorjohnson.com, 312.267.4511

Kim Manning, kmanning@taylorjohnson.com, 312.267.4527