Monday, November 7, 2016

City Office REIT, Feldman Equities and Tower Realty Joint Venture Acquires Park Tower in Downtown Tampa, FL

Park Tower, Downtown Tampa, FL
TAMPA, FL – A joint venture consisting of affiliates of NYSE listed City Office REIT (NYSE: CIO), Feldman Equities LLC, and Tower Realty Partners has acquired Park Tower, a 36-story, 475,000 square foot office building located in downtown Tampa.  The joint venture purchased the office building for $79.75 million.

The joint venture intends to make a substantial investment in the property to modernize the building.  The building is approximately 86% leased. Its anchor tenants include BB&T, United States Department of Justice – US Attorney’s Office, Level 3 Communications, and Lykes Insurance.

City Office REIT currently owns approximately 1.0 million square feet of office properties in the Tampa Bay market. 

“We are strong believers in the Tampa Bay market with its tremendous job and population growth and are excited to add Park Tower to our expanding portfolio,” commented Jamie Farrar, CEO of City Office REIT. 

“As with our other downtown acquisitions, this is yet another opportunity for us to do what we do best – renovating and upgrading office buildings in order to maximize their value,” commented co-owner Larry Feldman, CEO of Feldman Equities.

    Mike DiBlasi, Feldman Equities Executive Vice President for Leasing and Marketing, will lead leasing efforts.

Larry Feldman

“Located at the corner of Kennedy Blvd. and Tampa St., Park Tower sits on the most important intersection in Tampa. This is a great opportunity for a tenant looking to move into the heart of downtown,” said DiBlasi.  Park Tower offers spectacular views of Hillsborough Bay, the Hillsborough River, and the Downtown Tampa skyline.

“Downtown Tampa is undergoing a remarkable revitalization with numerous residential developments and the emergence of the Tampa Riverwalk entertainment district,” stated Feldman. “We are elated to be at the forefront of the downtown’s revitalization.”

Tower Realty Partners is a privately held, commercial real estate investment & management company based in Orlando, Florida. Founded in 1987 by principals Cliff Stein and Reid Berman, Tower Realty partners has been involved in the acquisition, leasing, and management of over 20 million square feet of real estate totaling in excess of $1.6 billion in transactions.

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

Charles Nance Joins Capital Square 1031 as Managing Director

Charles Nance
RICHMOND, Va. (Nov. 7, 2016) - Capital Square 1031, LLC, a leading sponsor of replacement property for Section 1031 exchanges, announced today that Charles Nance has joined the company as managing director.

“Charles is an experienced estate planner and tax professional who will lead the sales of our 1031/Delaware Statutory Trusts in the Mid-Atlantic region,” said Louis Rogers, founder and chief executive officer of Capital Square 1031.

“His successful history, combined with the relationships he has built throughout the region over many years, is a valuable asset as Capital Square continues to grow in the region. We are thrilled to welcome him to our team.” 

Nance joins Capital Square as an estate and tax planning attorney with over three decades of experience. Prior to focusing exclusively on estate planning, Nance was in-house counsel for a securities broker-dealer, a work-out consultant, and developer of LIHTC housing. He previously served as a legislative assistant in the U.S. House of Representatives and as assistant to various Virginia elected officials. 

Louis Rogers
Nance is a member of the Virginia State Bar, Trusts & Estates Section, and formerly served on the Continuing Education Committee of the Bar Association of the City of Richmond.

 He was selected by Virginia Business Magazine as a leading tax and estate attorney in an annual survey of the state’s “Legal Elite” and authored The Consumer’s Guide to Nursing Homes and the Division of Assets in Virginia.

He earned a bachelor’s degree from the College of William and Mary and a juris doctorate degree from George Mason University.

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

Julie Leber
Spotlight Marketing Communications
949.427.5172, ext. 703

IDI Gazeley North America Appoints Mark Saturno CEO

Mark Saturno
ATLANTA, GA – IDI Gazeley, a portfolio company of Brookfield and a leading global investor and developer of logistics warehouses and distribution parks, announced that Mark Saturno has been appointed CEO for North America.

 In this role, Saturno will oversee IDI Gazeley’s North American operations and will be based in the company’s Core Support office in Atlanta.

“Mark is ideally suited to lead our business into the future. As we look forward to 2017, we expect to make significant new investments through development starts, building acquisitions and land. Mark’s experience and in-depth knowledge of the industry will help ensure we consistently deliver the best-in-class product our customers expect,” said Jay Cornforth, managing partner and global head of industrial for Brookfield.

Previously, Saturno was a senior principal at Molto Properties in Chicago where he oversaw Molto's entry into the development arena and expansion beyond Chicago.

Prior to joining Molto, Saturno was the Chief Operating Officer of McShane Development Company and Managing Director for AMB’s Midwest Region. 

At AMB, he ran an operating business with more than 40 million square feet of industrial assets that were vertically integrated from in-house property management to acquisitions and developments. Saturno also worked at First Industrial for more than 10 years in various positions.   

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

IDI Gazeley
Andria Detaille

Jackson Spalding for IDI Gazeley
Mary Claire Keane