Saturday, September 30, 2017

Passco Companies Acquires Class A Transit-Oriented Multifamily Community in Dense and Growing Job Region, Alexandria, VA for $112.75 Million


The Parker Apartments, Fairfax County, Alexandria, VA

 Alexandria, VA – 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 Parker, a 360-unit multifamily community built in 2016 in Fairfax County, Alexandria, Virginia, a region experiencing exceptional job growth.

Gary Goodman

“Fairfax County, and the city of Alexandria, both provide ideal multifamily market fundamentals,” says Gary Goodman, Senior Vice President of Acquisitions at Passco. 

“The region features a combination of strong job growth, low vacancy rate, high-wage earning population, and a minimal supply of competing multifamily assets. These are the key demand drivers we look for with any new acquisition.”

Goodman explains that Forbes Magazine, recently ranked Fairfax County, as the third wealthiest county in the nation.

“These first-class demographics of the region indicate the future economic growth of the area and position The Parker to benefit for the long term,” says Goodman

The apartment community is located at 2550 Huntington Avenue, Alexandria, Virginia. David Nachison of Eastdil Secured represented the seller, a joint partnership between AEW Capital Management, on behalf of one of its closed-end funds, and MRP Realty, and Passco Companies as the buyer in this transaction.

Chris Black and Caleb Marten of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing for Passco Companies through Fannie Mae.
According to Goodman, Alexandria’s unemployment rate of 3.5 percent, coupled with new workplace facilities under construction for expanding companies, translates to an increasing population for the submarket, which will increase demand for multifamily product.

David Nachison

The Parker is strategically located at the Huntington Metro Station, offering direct connectivity to employment centers throughout North Virginia and Washington, D.C. Downtown Washington D.C., encompassing 152 million square feet of office space, is eight metro stops north of the asset.

The Parker is also a 10-minute walk from the Patent & Trademark Office (PTO), which employs 12,600 people. In addition, the National Science Foundation (NSF) recently moved to the neighborhood, bringing an estimated 2,400 new employees to the area.

 “The asset’s proximity to transportation and major employment hubs makes it easy for residents to commute to and from work and ensures the community’s long-term demand,” adds Goodman.

“Based on its unparalleled location and the lack of competition, The Parker is ideally positioned to increase in value based on the growing demand for multifamily residences in the area,” adds Goodman.

According to Goodman, at the time The Parker was purchased, the asset was 92-percent occupied.

The Parker features luxury multifamily amenities including two landscaped courtyards complete with gas grills and outdoor TVs, a resort style swimming pool and sundeck, a virtual sport simulation room, a 24-hour fitness center, a bike trail and outdoor fitness station, and a dog park and washing station, among others.

Chris Black
The acquisition of The Parker is Passco’s second acquisition in the Washington D.C. metro. In 2016, the firm acquired The Shelby, a Class A, 240-unit multifamily community.

“The Washington D.C. metro is a region that is well-aligned with our ongoing strategy to acquire quality assets in strong growth markets,” says Goodman. “We continue to find significant value here and plan to acquire more properties throughout the region in the coming months.”


For more information on this press release, please contact:

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





Rendering One of Planned Westin Anaheim Resort, Anaheim, CA 

ANAHEIM, CA  – Orange County-based Lifescapes International has been selected to design the landscape environment for the recently announced $245 million development of the Westin Anaheim Resort, a four-diamond resort by local developer Wincome Group.

“This is a monumental project for the City of Anaheim, which drew a record 23 million visitors last year,” says Dan Trust, Executive Vice President and COO of Lifescapes International. “The city is investing substantially in its resort corridor, and we are pleased to bring our seasoned experience in creating iconic destinations to this new project.”

Rendering Two of Planned Westin Anahaim Resort

Lifescapes is known for designing the landscapes of some of the world’s most iconic hotels, including the Bellagio Resort & Casino, Margaritaville Hollywood Beach Resort, Fontainebleau Miami Beach (remodel in 2008), and the Wynn Las Vegas, among many others.

“We understand that today’s consumers expect luxury amenities that integrate seamlessly into a destination’s overall look and feel,” Trust explains.  “For that reason, we will create a design that is both luxurious and functional, delivering an inviting environment that guests will enjoy for years to come.”


Rendering Three of Planned Westin Anaheim Resort

According to Paul Sanford, CEO of Wincome Group, “We knew that working with such a high caliber company as Lifescapes International would bring value to this project.  Their designs bring a sense of luxury and sophistication that is required for a 4-diamond hotel.”

The Westin Anaheim Resort will offer more than 600 rooms situated within a 630,000 square-foot environment, rich with lavish landscaping and elegantly-designed, social gathering spaces.

Al Amador, Senior Principal/Project Designer for Lifescapes and the lead designer on this project, explains, “We are building on the developer’s vision, which is to create a haven of luxury and a hub of excitement for tourists and staycationers alike.” 

Al Amador
Leveraging the resort’s close proximity to Disneyland and Disney’s California Adventure, Lifescapes will design a luxurious rooftop deck where guests can enjoy park views and nightly fireworks shows, according to Amador.

“Urban rooftop decks have emerged as one of the hottest design trends of this decade, and our expertise in creating entertainment-driven, immersive rooftop environments is unmatched,” Amador says.

The new deck will feature ample banquette seating nestled around modern fire pits, with portable shade structures and furniture that can accommodate public gatherings as well as private parties, weddings, or corporate events. 

“On the roof, we plan to integrate a long, linear raised water feature with floating planters, bringing a visual texture to the deck’s comfortable elegance,” Amador says.

Lifescapes will also design the four-diamond luxury resort’s new pool area, including two expansive pools and a luxurious spa surrounded by lush greenery and lounge furniture.

“Anaheim attracts both families and individuals seeking fun and relaxation, and our design will offer both,” notes Amador.  “The main pool will focus on luxury, complete with private cabanas and an elite look and feel, while the secondary pool focuses on family fun, complete with an overhead structure for shade and a nearby restaurant with seating areas overlooking the pool.”


Dan Trust
Lifescapes will also design a unique motor court for the new resort, featuring specialty paving in a custom design with ample lanes for traffic. 

“Smooth, comfortable arrivals are essential to the luxury experience, and this upscale and thoughtful motor court will deliver efficiency combined with style,” explains Amador.

The motor court will feature an on-grade fountain with a stunning water feature which, according to Amador, can be turned off to allow cars to park or drive over it when needed.

The Westin Anaheim Resort is located at 1030 W. Katella Avenue in Anaheim, California, just south of the Disneyland Resort and west of the Anaheim Convention Center, which recently underwent a $190 million expansion project.

In addition to Landscape Architect, Al Amador, Lifescapes’ design team on the project includes Roger Voettiner, Vice President of Design; Mike Meyers, Sr. Project Director; Fernando Ortiz, Project Manager; and Berj Behesnilian, Field Art Director.

Michael Hong Architects will serve as the architect on the project, with HED serving as Architect of Record.  Interiors will be designed by Dianna Wong Architecture & Interior Design, while GLUMAC will oversee engineering/MEP and Englekirk handles structural engineering.

Lifescapes International is an internationally recognized landscape architectural firm that has become an influential force in the industry through its design of innovative, creative, and trendsetting landscape environments.  For nearly 60 years, the company has remained true to its mantra: “We Create Gardens People Love.” SM

For more information on this press release, please contact:

Miki Akil or Lexi Astfalk
Brower, Miller & Cole
(949) 955-7940


Friday, September 29, 2017

Strategic Student & Senior Housing Trust Acquires The Domain at Tallahassee Near Florida State University


H. Michael Schwartz

Tallahassee, FL, Sept. 29, 2017) – Strategic Student & Senior Housing Trust, Inc., a private real estate investment trust sponsored by SmartStop Asset Management, LLC (SmartStop), announced today its acquisition of The Domain At Tallahassee, a 125-unit, 434-bed student housing property located one block from the campus of Florida State University in Tallahassee, Florida.

The acquisition is the second for Strategic Student & Senior Housing Trust, raising its portfolio value to approximately $104.5 million, based on aggregate purchase price.

“The Domain at Tallahassee is a purpose-built, newly constructed and 100 percent leased student housing community located just a short walk away from Florida State University, which has more than 41,000 students,” said H. Michael Schwartz, chief executive officer of Strategic Student & Senior Housing Trust.

“The amenities-rich, Class A property features a modern suburban-wrap design, and fits well with our acquisition strategy of acquiring core, stabilized student housing assets adjacent to Tier 1 universities.”

John Strockis
Located at 700 W. Virginia St. on 3.71 acres of land, The Domain at Tallahassee is one block from campus, offering students easy access to the Student Union, Business School and North Campus Library and Learning Commons. Floor plans range from one to four bedrooms and each fully furnished unit includes one bathroom per bedroom parity for enhanced privacy.

 Community amenities include secure access, a 24-hour fitness facility, resort style pool, computer center, private study rooms, coffee bar and more. Incorporated throughout the property is a fiber optic cable with broadband speeds of one gigabit per second, which supports connectivity to multiple devices at a time.

“This pedestrian-to-campus student housing property is built to help each of its Florida State University residents become more productive by providing secure housing that features onsite, round-the-clock fitness, high-speed internet, study rooms and close proximity to campus” said John Strockis, senior vice president of acquisitions. “The Domain at Tallahassee is the premier, amenities-rich, off campus student housing community at Florida State University.”

For more information on this press release, please contact:

Julie Leber
Spotlight Marketing Communications
949.427.5172, ext. 703

or

Damon Elder
Spotlight Marketing Communications 
949.427.5162, ext. 702



Morgan & Morgan Chooses 444 Seabreeze for Volusia County, FL Headquarters


John Morgan

DAYTONA BEACH, FL – Morgan & Morgan, the largest personal injury law firm in Florida, is expanding its presence in the Daytona Beach market with the opening of a new Volusia County headquarters office at 444 Seabreeze Boulevard.

In addition to their new 5,500 square foot office on the first floor, Morgan & Morgan’s name will be atop the building’s west side.  444 Seabreeze is highly visible in Daytona’s beachside skyline to motorists crossing the Intracoastal Waterway.

“The 444 Seabreeze building has long been home to some of the top law firms in the area,” said Ted Lightman of NAI Realvest / Charles Wayne Commercial.  “We are excited to welcome Morgan & Morgan to their prominent new location in Daytona Beach.”

Lightman represented the landlord in the transaction with Brian Adair and James O’Connor.  Jeff Sweeney of Cushman & Wakefield represented the tenant.


Jeff Sweeney
At 10 stories tall, 444 Seabreeze is the highest office building in Volusia County, complemented with unique views of the ocean and intracoastal waterway seen from the majority of its office suites.

Founded in 1988, Morgan & Morgan has grown to become one of the best-known law firms in the southeast.  Today the firm has over 350 lawyers and more than 2,200 support staff. 

The new Daytona Beach office will be one of 23 offices in Florida and one of 40 nationwide.  Morgan & Morgan has recovered more than $4 billion for more than 200,000 clients. 

The firm’s attorneys represent clients in a wide range of practice areas from personal injury, workers’ compensation, and medical malpractice cases to labor and employment, mesothelioma, and product liability lawsuits to national mass torts and class actions.

The “444 Seabreeze” office tower is very pleased to have Morgan & Morgan complement the building, along with other prestigious tenants including Raymond James, whose name proudly adorns the south side of the building.

444 Seabreeze is owned by Seabreeze Office Associates, LLC, an entity of local businessmen Charles Lichtigman and Sanford Miller.

It is operated by Charles Wayne Properties, Inc. one of Central Florida’s largest commercial brokerage, management and development firms with approximately 1,000,000 square feet of property, which it owns, manages and/or leases.

For more information on this press release, please contact:


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

The Keyes Company Acquires Realty Elite The Palm Beaches; Wellington-based real estate firm’s 64 agents join Keyes during aggressive expansion


Mike Pappas

Wellington, FL – The Keyes Company has announced the acquisition of the Wellington-based real estate firm Reality Elite The Palm Beaches. This marks the third acquisition for the firm since August, proving Keyes and its Family of Companies are committed to growth throughout South Florida and the Treasure Coast.

Founded by David Lopez in 2007, Realty Elite’s agents specialize in a variety of properties, including residential, commercial and marine. The firm also embraces technology, and offers turnkey marketing, with an importance placed on graphics and artwork to help clients experience the full beauty their properties have to offer. In 2016, Realty Elite’s 64 agents generated sales of $92 million.

“We are pleased to welcome Realty Elite’s team,” said Keyes CEO Mike Pappas. “Their experienced associates are exceptional and will, without a doubt, help deliver strong service and results to clients.”

Realty Elite’s agents will now relocate to the Keyes Wellington office, located at 13920 Wellington Trace. Here, they can take advantage of the leadership, marketing, resources and technology of Keyes as they continue to promote their properties and enjoy increased sales and listing opportunities.



Joan Richardson




“We are delighted to welcome the Realty Elite team to the Keyes family,” said Joan Richardson, manager of the Keyes Wellington office. “They are dedicated to every client who walks through the door, which makes all the difference in providing outstanding service.”

“We plan to continue growing through strategic acquisitions over the rest of 2017 and beyond,” said Steve Reibel, SVP of Keyes.

 “Profit margins are tightening in the brokerage industry, so we’re seeing more and more consolidation of firms that do not have the size and scale to withstand the new reality. We are fortunate to have the infrastructure, technology and diversity of services to help our brokers thrive.”

Independently-owned and operated since its founding in 1926, Keyes is extremely active in luxury residential real estate. In 2016, Keyes listed more than $1 billion in luxury homes priced at $1 million or more.

The Keyes Family of Companies is the largest independently-owned real estate firm in Florida and a Top 25-ranked firm in the entire United States. In Palm Beach County alone, Keyes has in excess of 1,100 Sales Associates and produces double the volume of its closest competitor.


Independently-owned and operated since 1926, The Keyes Company is a leader in the real estate industry. Keyes completed a merger with Illustrated Properties in July 2016. Keyes has 58 offices, more than 3,000 associates and nearly $6 billion in annual real estate sales and services.



Steve Reibel
Keyes’ offices are distributed throughout six counties – Miami-Dade, Broward, Palm Beach, Martin, St. Lucie, and Volusia. Keyes expands our Associates’ reach globally as a Founding Member and Shareholder of Leading Real Estate Companies of the World®.  

In addition to our Associates’ expertise, The Keyes Company offers a suite of resources to cover whatever needs arise while buying or selling your home. Your mortgage, title, insurance, and property management needs can all be managed in-house, allowing us to close your deal with speed and efficiency while giving you the opportunity to talk to a real person whenever you have a question.

For more information on this press release, please contact:

Jasmin Curtiss
 PR Coordinator, BoardroomPR
 O 954-370-8999
 Bank of America Plaza | 1776 N Pine Island Road
Suite 320 | Fort Lauderdale, FL 33322

Thursday, September 28, 2017

Hold-Thyssen Negotiates 4 New Office/Flex leases for more than 10,771 Square feet at Kirkman Commerce Center in South Orlando, FL


 
Alex Rowlinson
WINTER PARK, FL --- Hold-Thyssen, Inc., a full service commercial property firm based in Winter Park, negotiated four new office/flex leases for a total of 10,771 rentable square feet at Kirkman Commerce Center, 701 S. Kirkman Rd. in South Orlando.

The Hold-Thyssen Associates Alex Rowlinson and Troy Stevens represented the south Florida-based landlord /owner of the commerce center in the lease agreements.  

Rowlinson negotiated the lease of 7,200 square feet with Top Build (NYSE) a leading distributor and installer of insulation products to the U.S. construction industry.  Rowlinson and Stevens negotiated lease agreements with the following additional new tenants at Kirkman Commerce Center:

 Rebel Corp Global, a leading provider of merchant services, retail inventory management systems, custom web design and software development, leased 1,672 square feet; Primerica Financial Services, Inc., which specializes in investments, a variety insurance products leased 891 square feet; and Ingenious Culinary Concepts, a company that supplies K-12 school cafeterias with healthy and alternative lunch options, leased l,008 square feet. 

Hold-Thyssen, Inc. provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States.

For more information about this press release, please contact

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


Healthcare Executive Andrew Hoover Joins Meridian as Vice President of Business Development


Andrew Hoover
SAN RAMON, CA - Meridian, a full-service real estate developer specializing in acquiring and developing real estate facilities for the healthcare sector, announced  senior healthcare executive Andrew Hoover has been hired as Vice President of Business Development.

Hoover will play a leadership role in business development and facility acquisition for Meridian’s portfolio of major medical industry clients in the Southern California market. He will be based in the firm’s Irvine, California office.

"We’ve been building our Southern California team and Andy Hoover is the perfect addition to execute Meridian’s growth plans," said John Pollock, Chief Executive Officer of Meridian. 

"Hoover’s healthcare provider experience at Providence St. Joseph Health where he held various leadership roles within their real estate division brings a wide-ranging healthcare skillset to our organization that will be instrumental in further developing our Southern California presence.”

In his new position, Hoover will be assisting Meridian’s healthcare group in business development and asset management, using his experience in healthcare expansion, leasing and operations to bring a greater focus to the client services function at Meridian’s Southern California office.

John Pollock
 “With over 19 years of experience in healthcare real estate, Andy has profound insight into the various components that drive healthcare development today,” said Pollock. “His outstanding track record shows his commitment to excellence in client services and we’re looking forward to utilizing his expertise to further expand our out-patient portfolio in Southern California and beyond.”

"I am excited to be joining the Meridian team,” said Hoover. “Meridian is highly recognized as an industry leader in the healthcare sector and has the best people and the best resources to deliver prime real estate solutions to the industry. I’m looking forward to using my experience in and knowledge of the healthcare industry to add value to Meridian’s already stellar client services focus.”

A graduate of University of Southern California (USC), Hoover served in a number of roles at Providence St. Joseph Health in Torrance, California. Hoover’s start at Providence involved joining the team that organized the Southern California real estate department. Hoover played key roles in several large acquisitions, assisting and identifying the real estate obligation for the Facey Medical Foundation and Providence St. Joseph’s acquisitions. 

For more information on this press release, please contact:

Rivergate KW Residential Hires Eddie Yarmer as Senior VP of Operations


Eddie Yarmer

MIAMI, FL,Sept. 28, 2017 - RIVERGATE KW RESIDENTIAL, a leading multifamily property management company, has announced the hiring of Eddie Yarmer as Senior Vice President of Operations for the Florida, Georgia and Texas markets. In this role, he will be responsible for overall property operations, execution of corporate strategy and business development.

Yarmer is well-versed in all phases of development, management and dispositions through his extensive experience in multifamily markets.  He is a seasoned professional in luxury high- and mid-rise mixed-use developments in both core and urban areas, and also brings exceptional expertise in managing value-add projects.

Additionally, Yarmer has a proven track record in effectively working and consulting with developers throughout the design stage of assets, including floor plan, amenity review and pricing strategy. Recognized in the industry for his outstanding people skills, Yarmer is a Certified Apartment Manager (CAM) and is a Certified Property Manager (CPM) through the Institute of Real Estate Management (IREM).

“We are pleased to welcome Eddie to the RIVERGATE KW RESIDENTIAL family,” said Marcie Williams, president of RIVERGATE KW RESIDENTIAL. “His previous work has been outstanding, and I have no doubt that our partners and residents will greatly benefit from the experience he brings.”

Prior to joining RIVERGATE, Yarmer served as Managing Director for Greystar Real Estate Partners, overseeing approximately 16,000 units. He possesses a wealth of industry experience and knowledge, having also worked with firms such as Gables Residential, ING Clarion and Archstone-Smith.

Marcie Williams
In the past few months, RIVERGATE KW RESIDENTIAL has enjoyed substantial growth in the South Florida market, having taken over the management of Vue at 1400 in West Palm Beach, Circ Residences in Hollywood, 2500 Biscayne, ArtSquare in Hallandale Beach and Yoo in Atlanta.

“I am thrilled to begin working with the RIVERGATE KW RESIDENTIAL team,” said Yarmer. “The company is known for delivering top-quality management, and I look forward to being part of its continued growth and success.”

For more information on this press release, please contact:

Eric Kalis, BoardroomPR
954-370-8999

.



Daum Commercial Directs Sale of 8.9 Acre Land Site in Los Angeles, CA Basin


Dennis Sandoval
IRWINDALE, CA – DAUM Commercial Real Estate Services has completed the sale of an 8.9-acre land site in Irwindale, California on behalf of the seller, Harrison Nichols Company. The parcel is one of just a few of its size in the Los Angeles Basin region, according to Dennis Sandoval, Executive Vice President at DAUM Commercial.

“With limited infill land sites in the supply-constrained region, the opportunity to acquire this property proved very appealing to several developers,” explains Sandoval, who directed the disposition with Tom Phelan, a Vice President at DAUM. “San Gabriel Valley’s industrial vacancies are holding in the low-2-percent range, so this is an investment that will prove highly valuable for the buyer.”

The buyer, privately-owned industrial real estate developer CenterPoint Properties, will benefit from the site’s existing lease with UPS, as well as its potential for future development, according to Sandoval.

“This property was well positioned for sale based on our team’s long history of work with the seller – a family-run, Southern California-based long-term truck hauling business,” he explains.

“DAUM established a deep relationship with Harrison Nichols Company and served as their corporate real estate consultants and a single point of contact on valuations, lease renewals, and personal investments for several years. Based on this tenure, we were uniquely positioned to understand our Client’s goals, and to identify a buyer and structure a transaction that maximized value for the site.”

The land, which housed the seller’s operations for more than 40 years, is currently leased to United Parcel Service (UPS) for vehicle storage. DAUM assisted in negotiating the lease with UPS in 2015.

Tom Phelan
“By securing this lease, we were able to offer buyers the opportunity to purchase one of the few available parcels of land in the highly-developed and desirable Los Angeles Basin with the added benefit of an in-place lease with a Fortune 100 company,” Sandoval notes.

In the long term, the buyer plans to utilize the land for an industrial development. Until then, the existing lease with UPS will help to supplement the cost of the parcel, according to Sandoval.

The property, located at 5265 4th Street in Irwindale, California, was acquired for $9.8 million. Mike Fowler of JLL represented the buyer in this transaction.

For more information on this press release, please contact:

Lauren Burgos ·
Junior Account Executive
O 949 955 7940
Brower, Miller & Cole
The Smart Agency™ for Smart Clients who want Smart Work
895 Dove Street, Third Floor · Newport Beach, CA 92660
Website · Facebook · Twitter · Instagram




Tuesday, September 26, 2017

$110 million sale of Hyatt Centric The Loop Chicago hotel announced by HFF

  
 
Hyatt Centric The Loop Chicago
 CHICAGO, IL – Holliday Fenoglio Fowler, L.P. (HFF) announces the $110 million sale of Hyatt Centric The Loop Chicago, a 257-room, full-service hotel in the Central Loop area of Chicago, Illinois.

The HFF team marketed the property on behalf of the seller, an affiliate of Murphy Development Group.  Deka Immobilien purchased the asset.

Developed in 2015 by the seller, the 22-story Art Deco Hyatt Centric The Loop Chicago features the AIRE seasonal rooftop bar with panoramic city views, Cochon Volant restaurant and bakery, The Corner cafe, 24-hour fitness center, 2,500 square feet of event space, business center and pet-friendly accommodations. 

Situated at 100 West Monroe Street, the hotel is centrally located in Chicago’s Loop in the heart of the financial district and within walking distance to transportation, restaurants, shopping and entertainment.

The HFF investment sales team representing the seller included senior managing directors Jaime Fink and Jeffrey Bramson, senior director Jeff Bucaro and associate Nicole Aguiar.

“Jaime Fink and the HFF team did an exceptional job in developing a unique structured transaction which proved to successfully meet the business objectives of both buyer and seller,” said John Murphy of Murphy Development Group.  “We are satisfied with the results and look forward to our long-term engagement with Deka Bank.”

For more information on this press 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

WNC Promotes Anil Advani to Executive Vice President, Originations & Finance

  
 
Anil Advani
IRVINE, CA – WNC, a national investor in real estate and community development initiatives, announced it has promoted Anil Advani to executive vice president of originations and finance.

In his new role, Advani will lead WNC’s growing originations team and oversee the development of the firm’s strategic relationships with key lenders. 

He joined WNC in 2011 and most recently has been responsible for oversight of the firm’s proprietary funds, investor due diligence and originations/syndication team.

“Anil is a respected leader with 20 years of experience in the low-income housing tax credit industry, and I couldn’t be more pleased to announce his new role with WNC as we look to continue the growth and diversification of our firm,” said WNC President and CEO Will Cooper Jr.

Prior to joining WNC, Advani served as managing director with Red Capital Group, working in the company’s tax syndication group. He was responsible for originating and underwriting tax credit investments for placement into corporate tax credit funds. Advani also served as manager of tax credit investment advisory services of Ernst & Young, performing due diligence on tax credit funds. He began his career in 1996 with the Reznick Group.
                  
Advani holds a bachelor’s degree from the University of Texas, Austin, and a juris doctorate from American University.

 For more information on this press release, please contact:

Julie Leber
Spotlight Marketing Communications, Inc.
265 S. Anita Drive, Suite 250
Orange, California 92868
(949) 427-5172 ext. 703 direct
(509) 338-5676 cell



Hold-Thyssen Negotiates New Lease at Oakhill Hospital Medical Office in Brooksville, FL


Carol L. Kinnard
BROOKSVILLE, FL --- Hold-Thyssen, LLC, a full service commercial real estate firm with offices in Clearwater and Winter Park, recently negotiated a lease agreement for 1,326 square feet of medical office space at Oakhill Hospital Medical Office Condo, 11315 Cortez Blvd. in Brooksville, Hernando County, Fla.   

Carol L. Kinnard, transaction specialist at Hold-Thyssen, negotiated the transaction with Oak Hill Hospital staff on behalf of the landlord of the medical complex, a private investor.   The new tenant is Nature Coast Cardiology Specialists.  The three-year lease provides funds for minor tenant improvements.

Hold-Thyssen provides commercial property brokerage 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 more information on this press release, please contact:

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




Monday, September 25, 2017

Pathway to Living Becomes First US Senior Housing Operator to Offer Spark of Life Dementia Care; Senior living community in Westmont, IL marks Australia-based program’s stateside debut

  
Jane Verity

CHICAGO, IL — Pathway to Living announced that Aspired Living of Westmont, a 107-unit assisted living and memory care community scheduled to open this month in Westmont, Ill., will be the first senior housing community in the United States to provide residents with the Spark of Life Philosophy, a breakthrough program of treatment and support for dementia care.

First launched in Australia in 2007, Spark of Life was developed under the guidance of Jane Verity, a pioneer in the field of dementia care and research with a background in Tom Kitwood’s person-centered care and the Eden Alternative.

Designed to reverse the symptoms of dementia – a process called rementia – Spark of Life focuses not just on the physical needs of memory care residents, but also their social, emotional and spiritual well-being. By creating a stimulating environment in which each person is encouraged to participate, the program has been shown to improve memory, language, communication and behavior in people living with dementia.

Maria Oliva

“The key to Spark of Life lies in a heart-to-heart connection that enables a person with dementia to reconnect with their spirit – the inner driving force that restores zest for life,” said Verity.

Pathway to Living, which owns and operates 30 senior living communities in four states, is integrating Spark of Life into its A Knew Day memory care, founded on industry best practices and the latest research in dementia treatment.

 In order to offer Spark of Life, members of the Pathway team traveled to Australia to complete an intensive three-week course in order to become certified master practitioners, a requirement for implementation of the program.
                     
“We diligently seek out ways to improve the care for our residents with dementia and believe this remarkable therapy succeeds in rekindling the essence – or spark – of life,” said Maria Oliva, Pathway to Living’s chief operating officer. “Spark of Life aligns seamlessly with our existing memory care programs offered at all Pathway communities. We’re excited to introduce it to both residents and their families.”
  
Helen Brown

nder the leadership of Pathway’s two master practitioners, Aspired Living of Westmont will work toward becoming the country’s first Spark of Life Centre of Excellence, a designation that proves 100 percent compliance and success of the program.

 The two-year process involves submitting quarterly reports that measure the effectiveness of care provided and willingness to go beyond minimum standards for meeting the emotional needs of residents. A goal of the program is to reduce the amount of antidepressants, antipsychotics and sedatives often administered to residents.

“Most assisted living programs meet the basic physical needs of residents, but too often they focus on what a person is unable to do rather than what they can accomplish,” said Helen Brown, director of A Knew Day at Pathway to Living. “With Spark of Life, we look beyond the four D’s – diseases, disabilities, difficulties and differences – and give focused attention to residents, encouraging those who have withdrawn to re-engage, both internally and externally.”

Spanning 10 countries across five continents, Spark of Life has been recognized by the Global Ageing Network (formerly the International Association of Homes and Services for the Aging) as a model of innovation and excellence.

The program has also been endorsed as a recommended best practice by both the Wisconsin Adult Day Services Association (WASDA) and in a collaborative study between the Wisconsin Bureau of Aging and Disability Resources and the Wisconsin Office of Quality Assurance.

In addition to implementing the philosophy at its Westmont community, Pathway is also incorporating similar practices across its portfolio as part of the company’s A Knew Day memory care programming.

“For an elderly person with dementia, the light never truly goes out,” said Oliva. “Pathway to Living seeks to be a leader in showing Spark of Life is not a cure but, instead, a reliable approach that delivers measurable results simply by honing in on each resident’s emotional needs.

“What may seem like small steps to an outside person are really significant strides for the individual living with dementia, allowing them to take back their life and reconnect with loved ones – even if it’s just for a few fleeting moments.”

Located at 407 W. 63rd St., Aspired Living of Westmont will include 73 assisted living apartments in a mix of studio, one- and two-bedroom floor plans, as well as 34 memory care studios. All plans feature in-unit baths with accessible showers. 
  
Residents of Aspired Living of Westmont can expect to receive a high quality of care while benefitting from Pathway’s award-winning VIVA! philosophy, which enriches lives through various social, educational and recreational pursuits.

Residents will also have access to a full suite of amenities that serve as an extension of their homes. They include The Sycamore Restaurant and Prairie Grass Bistro serving fresh, nutritional meals; a spa and salon; a fitness center with personal trainers; a library; a movie theater; an art studio; and landscaped outdoor walking paths.

For more information about Pathway to Living, the Spark of Life Philosophy or Aspired Living of Westmont, visit www.pathwaytoliving.com or call (888) 342-1111.

For more information on this press release, please contact:

Allen Johnson, ajohnson@taylorjohnson.com (312) 267-4513
Abe Tekippe, atekippe@taylorjohnson.com (312) 267-4528


TerraCap Management Hires Matt Stewart as New Director of Asset Management


Matt Stewart

ESTERO, FL and ATLANTA, GA -= Fund operator TerraCap Management, LLC has hired Matt Stewart as their new Director of Asset Management, bringing with him over 23 years of experience in the commercial real estate industry. 

Matt will be responsible for asset management of TerraCap’s growing Georgia portfolio consisting of 1.8 million square feet of office space and 1,100 apartment units.

 Matt spent 11 years at Trimont Real Estate Advisors, Inc in their special servicing group where he served as Senior Vice President, playing a key role in providing and implementing high quality asset management solutions for their clients. 

Steve Hagenbuckle, founder of TerraCap Management, “We are honored to have Matt Stewart play a key role in creating more value for our investors as we continue to expand our footprint throughout the south Atlantic. Matt’s experience and mature view of managing assets will be beneficial to our investors and the TerraCap team.”

Steve Hagenbuckle
“I am grateful to join such a tremendous team of professionals at TerraCap and to work on such a strong portfolio of Georgia assets.  TerraCap has a sound strategy for value-add investing that I am excited to play a role in.” says Matt.  

Matt earned his Masters in Accounting and his BS in Business Administration from The University of North Carolina at Chapel Hill.  

For more information on this press release, please contact:

Gary Tanner • The Wilbert Group
Account Executive
1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309
678-677-9754
@garyttanner
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Sunday, September 24, 2017

Arbor Appoints Sam Gold as Vice President in Chicago Office


 
Sam Gold
 UNIONDALE, NY -- Arbor Realty Trust, Inc. (NYSE:ABR), a real estate investment trust and national direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets, is pleased to announce that Sam Gold has joined Arbor as Vice President, Originations.

Mr. Gold will focus on originating Freddie Mac SBL, Fannie Mae and FHA loans in the Midwest, Dallas, Chicago and Milwaukee regions. He will be located in Arbor’s Chicago office and reports directly to John Caulfield, Arbor’s Chief Operating Officer, Agency Lending.

With more than 15 years of industry experience, Mr. Gold has expertise in a number of areas involving multifamily transactions, including originations, risk, credit, underwriting and portfolio review.

“Sam joins Arbor with a successful track record of originating agency products and brings broad industry knowledge, from credit to asset management to securitization to portfolio management,” said Mr. Caulfield. “Sam has had particular success with Freddie Mac SBL and will provide Arbor with a great opportunity to expand its presence and market share and we look forward to having him as part of our successful and growing company.”

For the past seven years, Mr. Gold was employed by JPMorgan Chase out of Chicago, first as a Vice President and Senior Underwriter, and later as an Executive Director and Client Manager.

John Caulfield
 During his tenure at Chase, he won several awards for his performance, and was ranked #1 in his region for new originations, and for three years in a row, #1 for production and performance. 

Prior to Chase, he was at Sovereign Bank/Banco Santander for nearly five years. Earlier in his career, he served as a senior commercial valuation and advisory consultant at Urban Real Estate Research, Inc. in Chicago. 

“I greatly look forward to joining Arbor and bringing in new business to the Midwest and Dallas,” Mr. Gold said. “Arbor’s commitment to building long-term relationships and providing customized end-to-end loan solutions is unmatched in the lending industry and I am excited to be part of the Company!”


Mr. Gold holds a Master of Business Administration from DePaul University and a Bachelor of Science in Management Information Systems from Miami University.

For more information on this press release, please contact:

Arbor Realty Trust, Inc. 
Bonnie Habyan
333 Earle Ovington Blvd, Suite 900
 Tel: 516.506.4615
Uniondale, NY 11553                                                                       bhabyan@arbor.com
800.ARBOR.10