Monday, May 22, 2017

Partnership Unveils Redevelopment Plans for Weston Hills Country Club in Weston, FL



Lon Tabatchnick
WESTON, FL —Weston Hills Resort Group LLC, an affiliate of Hollywood-based Lojeta Group, has unveiled plans to redevelop Weston Hills Country Club, providing an upgraded experience for members and boosting property values for those who live in and around the area. 

The development partnership has a contract to purchase the Club and has committed to investing more than $10 million in improvements which include renovating the two championship golf courses, upgrading the clubhouse facility, building a resort-style swimming pool, poolside bar and restaurant, five new tennis and two pickle ball courts, a fitness center and a special play area for kids. 

“This is an opportunity to restore the prestige of Weston Hills Country Club and make it a crown jewel of the city once more,” said Lon Tabatchnick, managing partner of Weston Hills Resort Group whose resume includes developing the highly successful Margaritaville Resort on Hollywood Beach.

“There hasn’t been a significant renovation of Weston Hills since it was opened 30 years ago.  It’s still a great place for golf, tennis, recreation, dining and social events for the community, but needs a facelift to grow and prosper for the next 30 years.” said Tabatchnick who is a member of the club.

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

Todd Templin or Lauren Berger, BoardroomPR
954-370-8999 (o)  954-290-0810 (c)


HFF secures $100 million refinancing for retail power center in North Bergen, NJ


 
                         Tonnelle Commons, North Bergen, NJ              Photo by John Jenks                                                 

Mike Tepedino

NEW YORK, NY -– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $100 million refinancing for Tonnelle Commons, a 410,015-square-foot, Class A, fully leased retail power center in the New York metropolitan area suburb of North Bergen, New Jersey.

HFF worked on behalf of the borrower, Urban Edge Properties, to secure the 10-year, non-recourse fixed-rate loan.

Completed in 2009, Tonnelle Commons is fully leased to 16 tenants and is anchored by Walmart, BJ’s Wholesale Club, PetSmart and Staples.  The property is situated on Tonnelle Avenue (Routes 1 and 9) less than 10 miles from Midtown Manhattan and four miles from the entrance to the New Jersey Turnpike.  The center is located at the northern edge of Hudson County – the most densely populated county in New Jersey – and just one-half mile from Bergen County.

The HFF debt placement team representing the borrower was led by managing director Scott Aiese and senior managing director Mike Tepedino.

“HFF used its long-standing lender relationships and proprietary software, to identify the optimal long-term fixed-rate lender for Urban Edge,” Aiese said.  “Furthermore, not all retail is created equally; Tonnelle Commons is a 100-percent-occupied, highly performing center due to its infill location and laser-focused management team.”

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

Kristen Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617-848-1572 | cell 617-543-4873 | www.hfflp.com

 



HFF hires Chris McColpin as a director in its Austin, TX office


Chris McColpin
USTIN, TX, May 22, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that Chris McColpin has joined its Austin office as a director focused on debt and equity placement transactions for all property types.

Mr. McColpin has more than 12 years of commercial real estate finance experience and joins HFF from Lone Star Funds’ credit affiliate, LStar Capital, where he led originations for the Southwest region.

 During the course of his career, he has spent time on the loan origination teams of Morgan Stanley and Goldman Sachs & Co.  He began his commercial real estate career at HFF as an analyst in 2005.  

Mr. McColpin received a Master in Professional Accounting and a Bachelor of Business Administration from The University of Texas at Austin McCombs School of Business.  Additionally, he is a certified public accountant in the state of Texas

“Chris started his career back in 2005 at HFF’s Dallas office and we are thrilled to welcome him back to the team,” said Doug Opalka, senior managing director and co-head of HFF’s Austin office.  “Chris embodies the character we look for in our recruits and he will strengthen our existing debt and equity platform in the Austin office.”

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

Kristen Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617-848-1572 | cell 617-543-4873 | www.hfflp.com

 


HFF closes sale of Sheraton Suites Columbus in Columbus, OH


 
Sheraton Suites Columbus, 201 Hutchison Avenue, Columbus, OH


Denny Meikleham
BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of the 259-suite Sheraton Suites Columbus in Columbus, Ohio.

HFF represented the owner in the sale of the property to Regal Hospitality, based out of Columbus, Ohio.  The hotel was sold unencumbered by management.

The Sheraton Suites Columbus comprises 259 oversized guest suites, 3,185 square feet of meeting space, The Grill and The Lounge food and beverage outlets, an outdoor pool and sundeck, an indoor pool, fitness center, gift shop, business center and club lounge.

 The property is situated on a 4.21-acre site at 201 Hutchinson Avenue directly off of and visible from Interstate 270, which provides access to the Port Columbus International Airport 16 miles away. Additional demand drivers in the area include downtown Columbus, Ohio State University and nearby major corporations such as JP Morgan Chase, Nationwide Insurance, Honda of America, Kroger and Cardinal Health.

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

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

Kristen Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617-848-1572 | cell 617-543-4873 | www.hfflp.com


  

HFF arranges construction loan for first office building in CityPlace at Springwoods Village in Spring, TX


CityPlace, Spring, TX                             Rendering courtesy Patrinely Group  


Cortney Cole
                                                                                                            

HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a construction loan for the development of CityPlace 2, a 327,000-square-foot, Class A office building that will be the first office building to be developed in CityPlace in Spring, Texas.

Wally Reid
HFF worked on behalf of the borrower, a venture comprised of Patrinely Group, LLC; USAA Real Estate Company and CDC Houston Inc managed entity, to secure the five-year, fixed-rate construction permanent loan through American National Insurance Company headquartered in Galveston, Texas.

Due for completion in 2018, CityPlace 2 will be the first office building to be delivered within the larger 60-acre CityPlace mixed-use urban development that will feature more than four million square feet of Class A office, more than 600 units of luxury mid-rise residential, a 337-room full-service hotel and conference center, and more than 400,000 square feet of retail space including shops, restaurants and other entertainment options.

 CityPlace is part of the larger 2,000-acre Springwoods Village master-planned mixed-use community located at the intersection of Interstate 45, the Grand Parkway and the Hardy Toll Road in northeast Houston. 

Trent Agnew







Adjacent to the new Exxon Mobil Corporation Campus and Southwestern Energy Company’s new headquarters campus, the property is also close to Bush Intercontinental Airport, The Woodlands and not far from Houston’s Central Business District. 

CityPlace 2 will feature 10 stories of office space that is 100 percent pre-leased to American Bureau of Shipping.  The building will also feature 24,000 square feet of ground floor retail and dining and a parking structure for tenants and visitors.

The HFF debt placement team representing the borrower was led by senior managing director Wally Reid, managing director Cortney Cole and director Trent Agnew.

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

Kristen Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617-848-1572 | cell 617-543-4873 | www.hfflp.com

 


HFF closes $26.45 million sale of The Village at Hayden in Scottsdale, AZ


  The Village at Hayden, 8260 North Hayden Road, Scottsdale, AZ      Photo by Patrick Tang                                                      
CJ Osbrink
 PHOENIX, AZ, May 22, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $26.45 million sale of The Village at Hayden, a 156,751-square-foot mixed-use development in Scottsdale, Arizona.

HFF marketed the property on behalf of the seller, Village at Hayden, LLC, a partnership comprising AEW Capital Management, L.P. and The Muller Company, and procured the buyer, Arizona Partners.  The property was sold free and clear of financing.

The Village at Hayden is located at 8260 N Hayden Road just one half mile from Arizona State Route Loop 101, which sees an average of 180,000 cars per day.  The 11.83-acre site is part of the prestigious McCormick Ranch community north of Scottsdale. 

This trade area has an average household income exceeding $106,000 and more than 141,000 residents within a five-mile radius.  

At 97 percent leased, The Village at Hayden has a mix of regional and national retail and office tenants, including Capital Consultants Management, Company Nurse, Phoenix Photonix, Zipps Sports Grill, Twisted Grove, Melting Pot and Grassroots Kitchen.

The HFF investment sales team representing the seller was led by CJ Osbrink and Derreck Barker.

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

Kristen Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617-848-1572 | cell 617-543-4873 | www.hfflp.com


Bull Realty Brokers $16.8 Million Medical Office Building in Athens, GA


Paul Zeman
ATLANTA (May 22, 2017) — Paul Zeman, President of Healthcare Real Estate Services at Bull Realty, brokered the sale of “The Exchange,” two identical medical office buildings totaling 61,203 SF in Athens, GA. The sale closed on May 18, 2017 for $16.8 million.

The Exchange was built in 2007 by Bell Harrison Development. St. Mary’s Healthcare System occupies all of Building 300 and the majority of the space in Building 200. 

Services at this location include full modality outpatient diagnostic imaging, wellness, cardiology, neurology, and endocrinology. Other tenants include Athens Dentistry for Children and Athens Oconee Dentistry at the Exchange.

Paul Zeman represented the sellers in this transaction, 316, LLC and Exchange Building 300, LLC.

The buyer was American Healthcare Investors, LLC/ Griffin American Healthcare REIT.

“Off campus MOB's with hospital sponsorship like these are gaining in popularity with investors and serve residents in the community with an outstanding service,” said Zeman.

Healthcare Real Estate Services (www.HealthcareRealEstateServices.com) are specialty brokers with Bull Realty, Inc. (www.BullRealty.com), a U.S. commercial real estate brokerage and advisory firm headquartered in Atlanta, licensed in nine states providing acquisition, disposition, leasing and advisory services. The firm also produces and hosts the nationally-syndicated Commercial Real Estate Show (www.CREshow.com). The popular weekly show is broadcast on radio stations nationwide, iTunes, YouTube and CREshow.com.

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

Melissa Henry
Communications Manager
Bull Realty, Inc. 
404-876-1640 x 110

Sunday, May 21, 2017

HFF hires Andrew Briner as a managing director to lead its industrial sales effort in Southern California and the West Coast

           
Andrew Briner
LOS ANGELES, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced today that Andrew Briner has joined its Los Angeles office as a managing director concentrating on industrial investment sale transactions throughout Southern California and the West Coast.

Mr. Briner joins HFF from CBRE where he was a member of the Institutional Group.  Over the past 11 years, Mr. Briner has closed more than $24 billion in dispositions and recapitalizations nationally.

 He has been recognized by various industry organizations for completing high-profile transactions, including numerous deal of the year awards.  

A graduate of the University of California Berkeley, Mr. Briner is an active member of the Cal Athletics Alumni Association, and he sits on the Board of Directors of Catholic Big Brothers Big Sisters of Los Angeles.

“Andrew is a phenomenal addition to HFF,” said Kevin MacKenzie, senior managing director and co-head of HFF for the West Coast.  “Partnering with our current team, Andrew will strengthen and help lead HFF’s industrial presence in Southern California, bringing a best-in-class industrial advisory practice to our clients throughout the Western region.

“Due to our clients increasing demand and appetite for industrial product, we are pleased to add an industry professional such as Andrew to our growing team, locally and nationally.”


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

Kristen M. Murphy
Director, Public Relations
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 $25.25 million sale of Syracuse, NY office property



One Lincoln Center, 110 West Fayette Street, Syracuse, NY

Rob Rizzi
NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $25.25 million sale of One Lincoln Center, a 305,594-square-foot Class A office tower in Syracuse, New York.

HFF marketed the property on behalf of a private seller and procured the buyer, Zamir Equities. 

One Lincoln Center is located in the center of downtown Syracuse at 110 W. Fayette Street within close proximity to Armory Square, and numerous hotels, shopping, banking and museums. 

The property is surrounded by the Syracuse Federal Building, the Pike Block, City Hall, OnCenter and is not far from the intersection of Interstates 81 and 690, which provide connectivity to Syracuse’s most popular residential neighborhoods.

  The 17-story property is 86 percent leased to a diverse roster of tenants, including JP Morgan Chase, Bond Schoeneck & King PLLC, Cadaret Grant & Co LLC, Bousquet Holstein, Grossman St.Amour and Arcadis. 

The HFF investment sales team representing the seller was led by managing director Rob Rizzi, associate director Steven Rutman and director Michael Oliver.

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

Kristen M. Murphy
Director, Public Relations
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 fully occupied retail center near Houston, TX

  
Grand Crossing II Retail Center, Katy, TX

 HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Grand Crossing II, an 8,500-square-foot, newly developed, fully leased retail strip center located at the confluence of Interstate 10 and Grand Parkway in the Houston-area suburb of Katy, Texas.

HFF marketed the asset on behalf of the seller, Edifis Group.  Urbahns Property Group purchased the property free and clear of existing debt.

Grand Crossing II is 100 percent leased to Sleep Number, GrandLux Nail and American Dental Partners.  Completed in 2016, the one-building strip center is shadow anchored by Costco. 

Ryan West
Situated on a full acre at 23641 Katy Freeway, Grand Crossing II is at the highly visible southwest corner of where Interstate 10 and Grand Parkway meet, providing the center visibility from more than 357,000 vehicles per day.

 The property is part of the larger 125-acre Grand Crossing mixed-use development, which upon completion will include state-of-the-art multi-housing, office and retail uses that will be fully walkable. 

Approximately 93,101 people earning an average annual household income of more than $107,000 live within a three-mile radius of the center.

Katy is one of the fastest-growing residential communities in the United States due to its quality of life, great schools and low crime rate.  There are several globally recognized corporations headquartered within a few miles of Katy (and Grand Crossing), including Igloo, BP Americas, ConocoPhillips and Academy Sports & Outdoor as well as premier medical facilities.

 Due to these factors, Katy has been the recipient of several awards and accolades including “100 Best Places to Live” by Relocate America and “Top Houston-area School District” by Niche.    

The HFF investment sales team representing the seller was led by senior managing director Ryan West.

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

Kristen M. Murphy
Director, Public Relations
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


Shopoff Realty Investments Acquires 45.89-Acre Manufactured Housing Community Near Los Angeles


John Santry
LOS ANGELES, CA –– Shopoff Realty Investments, a national manager of opportunistic and value-add real estate investments, announced it acquired a 45.89-acre manufactured housing community in the City of El Monte, a Los Angeles suburb, for approximately $52.7 million.

“Southern California continues to experience a severe shortage of affordable housing, a crisis which is expected to continue for the foreseeable future,” said Shopoff Realty Investments CEO William Shopoff. “We are proud to create a solution that will help meet the current demand and benefit the local community.” 

Located at 12700 Elliott Avenue, the community features 421 home sites with a 64 percent occupancy at close of acquisition. Shopoff Realty Investments’ value-add strategy includes repositioning, re-tenanting and stabilizing the manufactured housing community by adding 150 homes to the community and the city’s housing stock.

“From a macro perspective, we view investments in mobile home parks very favorably,” said John Santry, executive vice president of Shopoff Realty Investments Land Division.

“From the micro perspective, however, this acquisition provides us an opportunity to perform physical and operational improvements, stabilize occupancy and potentially enjoy a significant value-add proposition. It is a rare opportunity to acquire a value-add asset of significant scale within the Los Angeles market.” 

Ladder Capital served as both lender and equity partner to Shopoff Realty Investments.

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

Jill Swartz
Spotlight Marketing Communications
949.427.5172, ext. 701

Passco Companies Expands Portfolio in Florida’s Space Coast; Acquires 336-Unit Multifamily Community in West Melbourne for $53.3 Million


Colin Gillis
West Melbourne, FL – Passco Companies, a privately held California based real estate company that specializes in the investment, acquisition, development and management of commercial properties throughout the U.S., has acquired The Haven at West Melbourne, a 336-unit  multifamily community in West Melbourne, Florida for $53.3 million.

This is Passco’s second acquisition in the Space Coast within the last six months, according to Colin Gillis, Vice President of Acquisitions for the Southeast at Passco Companies.

“The Space Coast is one of the fastest growing regions across the Southeast and we continue to find deep value here,” says Gillis. “The region is experiencing rapid job and population growth – both of which are indicators of the future economic growth of the region and key demand drivers we look for with any new acquisition.”

Gillis explains that the region’s population is anticipated to grow another six percent over the next five years. 

“This strong population growth is driven largely by the tremendous amount of new businesses flocking to the Space Coast,” says Gillis. “The Space Coast is home to America’s space and aeronautical industries and is quickly becoming the top destination for STEM (Science, Technology, Engineering and Math) jobs in all of Florida. For example, top employers such as Harris Corporation, Northrop Grumman, and Lockheed Martin are all located within seven miles of the property.”

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

Lauren Burgos/ Lexi Astfalk
Brower, Miller & Cole
(949) 955-7940


Stepp Commercial Completes $3.3 Million Sale of Cherry Avenue Apartments in Retro Row Neighborhood of Downtown Long Beach, CA


Robert Stepp
Long Beach, CA - Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $3.3 million sale of Cherry Avenue Apartments, a 12-unit apartment property within the Retro Row neighborhood of Downtown in Long Beach, Calif.

Principal Robert Stepp and Vice President Michael Toveg of Stepp Commercial represented the seller, 546 cherry Waterford, LLC from Long Beach. The buyer was a private investor from Palos Verdes. The property closed at a 4.4 percent cap rate and a price per unit of $275,000.

Built in 1963, the two-story property is located at 546 Cherry Avenue. The property includes seven, one-bedroom units, three two-bedroom units and two studio units. The property offers ample parking, controlled access entry and a laundry facility.

"This property was recently renovated and offered the buyer an upgraded, turn-key asset. We received a number of offers and was sold at full asking price," said Stepp.

Cherry Avenue Apartments is situated less than one-mile from the ocean and is just three blocks from the more than 40 shops and restaurants of Retro Row on East 4th Street.

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

Darcie Giacchetto
D.G. Communications, Inc.

949.278.6224

MCA Realty Acquires Eight-Acre Land Parcel in Temecula; Plans 140,000-SF Industrial Development


Tyler Mattox
Temecula, CA – MCA Realty, a full service real estate investment and management company, has acquired an eight-acre land parcel in Temecula, California. 

The firm plans to develop a 140,000 square-foot industrial building on the site, which will be the first industrial development built in the City of Temecula in over eight years, according to MCA Realty Principal, Tyler Mattox.

“There is no other competitive product currently being developed in the region,” explains Mattox. “This is the last developable land parcel in Temecula with the ability to accommodate a building in excess of 100,000 square feet, providing a strong opportunity and competitive advantage for MCA.”

MCA Realty plans to break ground on the new industrial development, which it will brand as MCA Business Center, this month, May 2017.

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

Lauren Burgos / Lexi Astfalk
Brower, Miller & Cole
(949) 955-7940

Avanath Capital Management Doubles Brooklyn Footprint; Acquires 17-Building Affordable Housing Portfolio for $73 Million


John Williams
 BROOKLYN, NY – Avanath Capital Management, LLC, an institutional fund manager that has invested over $1 billion in affordable and workforce housing properties throughout the United States, has acquired an affordable housing portfolio of 17 apartment buildings totaling 198 units in Brooklyn, New York for $73 million. 

The properties were acquired in joint partnership with New York-based Oak Tree Management.

“This portfolio presented a rare opportunity to gain a substantial stake in one of the most dynamic markets in the nation,” explains John Williams, President and Chief Investment Officer of Avanath. 

“Brooklyn’s explosive economic growth, population gains, and cultural renaissance are driving an influx of investment capital to this market, which consistently ranks as one of the most expensive places to live in the U.S.”

Located in the rapidly growing neighborhoods of Prospect Heights, Crown Heights, Williamsburg, and Bedford-Stuyvesant, the properties include 115 rent-stabilized units, 79 free-market units, and 4 commercial spaces.

Average rents in these assets range from $1,700 to $2,500 - roughly half the cost of rental comps in the Brooklyn submarket, according to Williams.

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

Katie Kea / Jenn Quader
Brower, Miller & Cole
(949) 955-7940

The newly launched AVANI Avenida Liberdade Lisbon Hotel Offers travelers a stylish and well-priced base in the Portuguese capital’s most fashionable street


AVANI Avenida Liberdade Lisbon Hotel, Lisbon, Portugal

 LISBON, PORTUGAL -- Avenida da Liberdade is the best address in Lisbon and it is now possible to stay at the upscale AVANI Avenida Liberdade Lisbon Hotel. The newly launched Hotel has a perfect location just off fashion-forward Avenida da Liberdade, which attracts an eclectic crowd to its tree-lined esplanades with big-name designer labels and continental sidewalk cafes.

The hotel, formerly Tivoli Jardim Hotel, has undergone an extensive 1.5 million Euro refurbishment. The upgrade includes the redesign of the fa├žade, the guest rooms, lobby, reception, the installation of an AVANIFIT gym and the relaunch of well-known Olivier Restaurant.

The open plan and retro spirit of the lobby merges chill, social and work areas, offering a stylish communal space in which to relax.

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

Hwee Peng Yeo
Vice President
Glodow Nead Communications

Saturday, May 20, 2017

HFF arranges $28.7 million acquisition financing for a Macy’s in west Los Angeles, CA


Macy's Westside Pavilion Mall, West Los Angeles, CA

Kevin MacKenzie

NEWPORT BEACH, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $28.7 million in financing for the acquisition of a six-acre parcel that includes a 244,000-square-foot retail structure that is occupied by Macy’s and a 1,550 space parking garage at the Westside Pavilion Mall in west Los Angeles, California.

HFF worked on behalf of the borrower, GPI Companies, to secure the two-year, fixed-rate loan through a life insurance company. 

The property is part of the Westside Pavilion Mall, and is anchored by a 244,000-square-foot Macy’s.  Located at the intersection of Pico Boulevard and Overland Avenue, the property is situated in prestigious west Los Angeles, close to the 405 and 10 Freeways. 

The HFF debt placement team representing the borrower was led by senior managing director Kevin MacKenzie, director Greg Brown, director Jeff Sause and associate Jamie Kline.

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

Kristen Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | cell 617.543.4873 | www.hfflp.com



HFF closes sale of two-property hotel portfolio in Charleston, SC and Bluffton/Hilton Head, SC

  
Candlewood Suite Bluffton/Hilton Head, SC

ORLANDO, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of a two-property Candlewood Suites portfolio totaling 249 rooms in Charleston and Bluffton/Hilton Head, South Carolina

HFF marketed the property on behalf of the seller, Liberty Group.  Affiliates of DC Hospitality Group, LLC purchased the assets unencumbered of debt and existing management.  Liberty Group acquired the hotels in 2013 and 2014 through its private-equity vehicle, Liberty Hospitality Fund I, LLC.


Candlewood Suites Charleston, SC
The portfolio comprises the 125-room Candlewood Suites Charleston and the 124-room Candlewood Suites Bluffton/Hilton Head.  Both four-story hotels are pet friendly and feature the Candlewood Cupboard, sundry shop, an outdoor gazebo grill and 24-hour fitness center.

The Candlewood Suites Charleston was developed in 2007 and renovated in 2014. 

Situated on 3.26 acres at 2177 Northwoods Boulevard in North Charleston, the hotel is adjacent to Interstate 26 and is proximate to Charleston International Airport.  The Candlewood Suites Bluffton/Hilton Head was developed in 2010 and renovated in 2014.

 In addition to the above-mentioned amenities, the hotel has an outdoor pool.  The Candlewood Suites Bluffton/Hilton Head is housed on 3.3 acres at 5 Young Clyde Court in the Bluffton/Hilton Head area, which is one of the most popular tourist destinations in the southern United States with 2.5 million annual visitors.

Michael Weinberg
 The hotel is in the epicenter of the 10,000-acre Sun City Hilton Head master-planned community situated along US 278, the primary thoroughfare to Hilton Head Island.

The HFF team was led by senior managing director Michael Weinberg, associate director Preston Reid and director Chris Lingerfelt.

“The sale of these hotels represented the successful full-cycle execution of our fund investment strategy,” stated Punit Shah, Chief Executive Officer of Liberty Group. “The sale of these assets validates the appeal of select-service and extended-stay hotels to both institutional and strategic purchasers.”

“The portfolio offers a tremendous opportunity to acquire two strong-performing assets in flourishing areas across the Southeast,” Lingerfelt said.  “Both the Charleston and Bluffton/Hilton Head lodging markets are supported by healthy demand generators and are poised for long-term growth.”

 “We continue to see robust interest for branded select-service and extended-stay assets in strong southeastern markets, especially when they have a strong going-in yield coupled with below replacement cost pricing,” Reid added.

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

Kristen Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | cell 617.543.4873 | www.hfflp.com


Draper and Kramer Acquires 3-Acre Commercial Development Parcel in Park Ridge, IL


Paul Buckingham
CHICAGO, IL – Draper and Kramer, Incorporated, a full-service national real estate firm, announces it has closed on the purchase of a 3-acre commercial development parcel located in Park Ridge, Ill., at the corner of Greenwood Avenue and Busse Highway.

The firm was self-represented in the transaction, while the seller, the American Society of Anesthesiologists, was represented by Paul Buckingham and Terry Alexa of Newmark Grubb Knight Frank.

Following the acquisition, Draper and Kramer sold a portion of the site to a developer for a luxury senior housing development. Jason Gustavson of Stone Real Estate is marketing the remaining commercial parcel on behalf of Draper and Kramer.

This is Draper and Kramer’s second transaction in Park Ridge during the last year. In December 2016, Draper and Kramer sold a medical office building located at 101 S. Washington Ave., directly adjacent to Whole Foods. Danny Spitz and Greg Dietz of Baum Realty Group represented Draper and Kramer in the sale.

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

Sarah Lyons, slyons@taylorjohnson.com, (312) 267-4520

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

Mary Jo Wenmouth Joins Capital Square 1031 as Managing Director


Mary Jo Wenmouth

 RICHMOND, VA – Capital Square 1031, a leading real estate investment and management firm specializing in Delaware statutory trust investments, announced Mary Jo Wenmouth, a veteran of Section 1031 exchange and direct real estate investments, has joined the company as managing director.

Wenmouth will be responsible for fostering relationships with broker-dealers and due diligence officers on behalf of Capital Square 1031. She will also oversee Section 1031 investment sales in the Midwest.

“Mary Jo brings 16 years of in-depth experience in Section 1031 exchange and other Reg D investments to her position at Capital Square,” said Louis Rogers, founder and chief executive officer of Capital Square 1031.

Louis Rogers
“A respected professional, she has a well-earned reputation for success and professionalism with established relationships throughout the industry that will benefit our firm and our investors alike. I couldn’t be more pleased to welcome her to our rapidly growing team.”

Wenmouth joins Capital Square 1031 from Silver Portal Capital, where she served as senior vice president. Previously, she spent 15 years with Inland Securities Corporation, where she was vice president and senior private capital consultant.

In this role, she coordinated with financial advisors to facilitate Section 1031 exchange and cash investments in Regulation D private placements. She also traveled throughout the nation, collaborating with broker-dealers to provide in-depth Section 1031 exchange education to financial advisors.

From 2013 to 2015, Wenmouth originated more than $100 million in personal sales volume in the northwest.  Prior to Inland Securities Corporation, Wenmouth served as vice president of Harris Bank/Bank of Montreal, and as vice president, operations manager for Clayton Brown & Associates.

As a regular presenter at the CPA Academy, Wenmouth has provided Certified Public Accountants with continuing education credits, sharing expertise on 1031 exchanges and DSTs.

Wenmouth attended DePaul University in Chicago, Illinois. She holds FINRA Series 7, 24 and 63 licenses, and is a member of the Federation of Exchange Accommodators.

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

Julie Leber                                                                         
Spotlight Marketing Communications                    
949.427.5172, ext. 703                   
                                      


Friday, May 19, 2017

Draper and Kramer, Incorporated, Earns Four Honors at St. Louis Apartment Association Rising Star Awards


Julie Johnson
                                                                                                       
CHICAGO, IL (May 19, 2017) – Draper and Kramer, Incorporated, a full-service national real estate firm, is pleased to announce it was honored with four awards at the St. Louis Apartment Association Rising Star Awards, which were held April 28.

The awards banquet is hosted annually by the St. Louis Apartment Association (SLAA) to recognize the work of the organization’s members in the industry.

“St. Louis is an extremely important market for Draper and Kramer since we own and manage several properties here and are also currently developing new rental communities in the area,” said Julie Johnson, senior vice president and director of management services for Draper and Kramer.

 “It is very gratifying to have our St. Louis-area properties and staff recognized by the SLAA for outstanding performance, confirming the confidence we have in our team as top property management professionals.”

Draper and Kramer received the SLAA’s Property of the Year award for Fieldpointe of St. Louis, a recently renovated community of 318 luxury apartments located in the West County area of St. Louis. Honored in the market-rate category for properties built prior to 2000 and with up to 400 units, Fieldpointe of St. Louis was recognized for its outstanding offering of amenities as well as customer service and management policies that deliver an exceptional experience for residents. 

Additionally, three Draper and Kramer employees were honored with individual SLAA Rising Star Awards:

Fieldpointe of St. Louis Apartments, St. Louis, MO
·       Michael Meador, Multi-Site Maintenance Supervisor/Capital Improvement Director of the Year: As head engineer of St. Louis operations for Draper and Kramer, Meador oversees the maintenance operations for 1,109 rental units, spearheading major renovations and capital improvement projects as well as make-ready turns.

·       Julie Henderson, Groundsperson/Housekeeper of the Year: A 22-year employee of Draper and Kramer, Henderson is part of the janitorial/grounds staff at Hampton Gardens Apartments in the historic “Hill” area of St. Louis.

·       Mark Harris, Maintenance Technician of the Year (201 to 401+ Units) : Harris is a maintenance technician for Draper and Kramer at Fieldpointe of St. Louis. 

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

Sarah Lyons, slyons@taylorjohnson.com, (312) 267-4520
Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528





NAI Realvest Represents Tenants in Two Long-Term Office Leases, Downtown and in East Orlando, FL


Tiffany Zullo


Andrew McCaw
 ORLANDO, FL -- NAI Realvest VP of Tenant Representation Andrew McCaw assisted the Tenant Kisinger Campo & Associates (KCA) in its recent office expansion and long-term lease extension at Fairwinds Tower, 135 W. Central Blvd., Orlando.

KCA, a multidisciplinary engineering firm based in Tampa, expanded into 4,180 square feet at the downtown office building.  Landlord Central Fairwinds Limited Partnership was represented by Tiffany Zullo of Tower Realty Partners, Inc. 

In East Orlando, McCaw represented Advanced Systems Technology in a lease renewal agreement for 1,590 square feet of office space in Research Commons at 12249 Science Drive. 

The tenant specializes in software and systems engineering for instruction and simulation training.  Landlord CIO Research Commons LLC was represented by Zullo of Tower Realty Partners Inc.

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