Tuesday, February 7, 2017

Hospitality Real Estate Veterans Launch Davis Hotel Capital

Geoff Davis
DENVER, CO and NEW YORK, NY,  Feb.  7, 2017—Principals Geoff Davis and Angelo Stambules today announced the formation of Davis Hotel Capital, a premier hotel inv

estment banking and mortgage brokerage firm with a focus on hospitality real estate.  With offices in New York and Denver, the firm specializes in raising debt and equity for hotel owners, as well as direct equity investment in hotel assets. 

“During my career, I have arranged more than $6 billion of hotel capital and completed over $14 billion in total hotel industry transactions, providing the company with diverse experience and expertise,” said Stambules.

  Angelo has in-depth finance experience, having served in senior leadership positions within Starwood Hotels & Resorts and Marriott International where he oversaw direct real estate investments. 

Additionally, he held senior level banking positions at Capmark Finance (formerly GMAC Commercial Mortgage) and GE Capital, where he participated in sourcing, structuring, and underwriting over $10 billion of hotel loans,” said Davis, senior principal and founder.

 “During our collective 70 years in the business, we have arranged financing across the United States and internationally for all hotel asset classes, including individual and portfolio select-service, resort, full-service, suburban and urban hotels,” he said.

“We will utilize our extensive backgrounds in tandem with our strategic global industry relationships to create innovative finance and capital solutions for our clients.  We also have formed an investment group for direct equity investment into opportunistic hotel plays, with a focus on value-add investments.”

Angelo Stambules
“Funding acquisitions, re-financings and developments in this phase of the real estate cycle will be especially critical as capital becomes more selective,” Davis added.  “Much of the low hanging fruit has been picked, and completing transactions will require more complex structuring.  Conversely, this often is the time when investors can strike the best deals.”

DHC services include hotel real estate mortgage brokerage and investment advisory support for hotel owners and investors.  The company sources debt and equity capital, as well as hotel and resort investment opportunities. 

DHC offers a full suite of debt-related services, including sourcing acquisition and re-financing loans with bridge or permanent loans, forward loan commitments and construction loans.

 “By specializing exclusively on hotel capital markets, we have our finger on the pulse of hotel lenders, understanding which lenders are providing what kind of debt at that moment in real time,” said Stambules.

 “Over the next several years, we expect the hotel lending landscape to be more volatile as lenders shift their underwriting criteria and focus.  DHC is a skilled intermediary that can provide access to the right kind of capital and key decision makers to help prospective owners quickly access the funds needed to make deals in a timely manner before the opportunity slips away.”

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

620 Herndon Parkway, Suite 115 | Herndon, VA 20170
Main: 703-435-6293
Mobile: 703-864-5553

California's Newmeyer & Dillion Promotes Three Lawyers to Partnership

Anne Kelley

NEWPORT BEACH, CA, Feb. 7, 2017 --– Prominent business and real estate law firm Newmeyer & Dillion LLP is pleased to announce that three of the firm’s attorneys – Ben Ammerman, Anne Kelley and Rondi Walsh – have been elected to partnership. Their promotions are effective immediately.

“The elevation of these three attorneys is a testament to their leadership, hard work, and unwavering commitment to superior service for our clients and the firm,” proclaimed Jeff Dennis, Newmeyer & Dillion’s Managing Partner. “This is an exciting time for the firm as we look forward to their continued success and contributions.”

Rondi Walsh

Ammerman (based in Newport Beach, CA) focuses his practice in the areas of business, real estate, and tort litigation. In addition to his private practice, Ammerman presently serves as a Commander in the Navy Reserve Judge Advocate General’s Corps. He's also an active alumnus, currently named co-chair of the University of Southern California’s 20th Reunion Committee.

Kelley (based in Walnut Creek, CA) concentrates primarily in construction litigation and insurance coverage matters. She has over 12 years of experience working closely with builders, developers, contractors and subcontractors throughout Northern California developing legal strategies specific to the needs of each matter and the client’s business and goals. Kelley has litigated a wide variety of complex insurance coverage disputes.

Ben Ammerman

Walsh (based in Newport Beach, CA) has incorporated into her practice the representation of policyholders in first and third-party insurance coverage, and business lawsuits involving contracts, property disputes, products liability and construction defect issues. She also has litigated numerous political and election law matters and has worked both professionally and as a volunteer on numerous political campaigns. Walsh is also an active member with the National Charity League.

For more than 30 years, Newmeyer & Dillion has delivered creative and outstanding legal solutions and trial results for a wide array of clients.  With over 70 attorneys practicing in all aspects of business, employment, real estate, construction and insurance law, Newmeyer & Dillion delivers legal services tailored to meet each client’s needs. 

Headquartered in Newport Beach, California, with offices in Walnut Creek, California and Las Vegas, Nevada, Newmeyer & Dillion attorneys are recognized by The Best Lawyers in America©, and Super Lawyers as top tier and some of the best lawyers in California, and have been given Martindale-Hubbell Peer Review's AV Preeminent® highest rating. For additional information, call 949-854-7000 or visit www.ndlf.com.

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

Gia Altreche 949.271.7338 or gia.altreche@ndlf.com

JLL Launches 3131 and 3133 Camelback Buildings for Sale in Phoenix, AZ

Lynn LaChappelle

Dennis Desmond
PHOENIX, AZ – On behalf of TR Camelback Corp., the Phoenix office of JLL has been assigned the liting agreement for 3131 and 3133 Camelback, a two-building office property located at the southwest corner of Camelback Road and 32nd Street, on one of the most prominent corners in Phoenix’s prestigious Camelback Corridor.

JLL Senior Managing Director Dennis Desmond and Managing Director Lynn LaChapelle represent TR Camelback Corp. The team launched the property for sale this week.

“The 3131 and 3133 Camelback buildings were developed in the late 1990s, but a timeless design, premier location and meticulous upkeep have kept it competitive with even the newest Camelback Corridor office options,” said Desmond.

“Since its delivery – and throughout numerous economic shifts – the project has significantly outperformed the market with an average 93 percent annual occupancy rate. This makes for an extremely attractive investment option as rents on the Camelback Corridor continue to rise. We expect strong investor interest.”

According to JLL, the Camelback Corridor since 2014 has attracted more than $700 million in new investor activity. This is due, in part, to rapidly rising rental rates that have increased from an average $23.83 per-square-foot in 2012 to an average $30.11 per-square-foot in 2016 – a rise of 26.4 percent.

3131 and 3133 Camelback, Phoenix, AZ
The 3131 and 3133 Camelback buildings are located at 3131 and 3133 E. Camelback Road in Phoenix, offering four stories of Class A office space at the 3131 building and three stories of office space at the 3133 building. 

Together, they total 295,401 square feet that is currently 93 percent leased to tenants including HSAG, Johnson Bank and JLL.

Amenities at the property include direct frontage and signage exposure to Camelback Road, easy ingress and egress, superior views, an on-site coffee bar and the best parking ratio on the Camelback Corridor.

The property has been recently updated with contemporary lobby furnishings, a Wi-Fi enabled conference and training room in the 3131 building, and a new outdoor lounge area that features food trucks every Wednesday. TR Camelback Corp. has owned the buildings since 2006. Property management for the buildings is provided by Lincoln Property Company.

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

Stacey Hershauer
 +1 480 600 0195

Hanley Investment Group and Coldwell Banker DuFour Realty Arrange Sale of New Single-Tenant ULTA Beauty in Chico, CA

Bill Asher
CORONA DEL MAR, CA – Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, in conjunction with Coldwell Banker DuFour Realty, announced the two firms completed the sale of a new construction single-tenant net-leased retail property occupied by ULTA Beauty at 2068 Dr. Martin Luther King Jr. Parkway in Chico, Calif. The sales price could not be disclosed.

Hanley Investment Group Executive Vice President Bill Asher, along with Mike Donnelly at Coldwell Banker DuFour Realty of Chico, Calif., represented the seller, Kitchell Development Company’s office in Del Mar, Calif. Cushman & Wakefield Senior Vice President Scott Borgia represented the buyer, Bay Area Properties from Santa Clara, Calif.

Newly built and completed in late 2016, the 10,055-square-foot building leased to ULTA Beauty is situated on a 1.17-acre parcel shadow-anchored by Costco and adjacent to Sierra Nevada Brewing Company, one of the largest breweries in the U.S.

Mike Donnelly

Hanley Investment Group procured an all-cash 1031 exchange buyer and structured a 30-day escrow with ULTA opening for business just a few weeks prior to closing. 

“We generated multiple offers in the initial 30 days of marketing, prior to ULTA opening for business, demonstrating that a flight to quality is what investors continue to seek in today’s retail investment market,” said Asher.

Asher continues, “It was clear the location of the building being positioned in front of a successful Costco was a key selling point, along with the city of Chico being ranked #1 in Forbes Magazine’s ‘Best Places in America.’  

"However, it was important to note the overall strength of ULTA Beauty as a tenant was an important driver. ULTA Beauty is a publicly-traded Fortune 1000 company, with over 900 location across the U.S. and an excellent track record. ULTA Beauty’s sales revenue has increased 121 percent since 2011 to $3.9 billion as of 2015.”

Hanley Investment Group Real Estate Advisors is a retail investment advisory firm with a $5 billion transaction track record nationwide, who works closely with individual investors, lending institutions, developers, and institutional property owners in every facet of the transaction to ensure that the highest value is achieved. For more information, visit www.hanleyinvestment.com.

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

Anne Monaghan                                            Bill Asher
Monaghan Communications                       Hanley Investment Group

830.997.0963                                                 949.585.7684

RECI Reports Mortgage Lenders Flush With Funds

Jeanne Peck
Chicago, IL – Real Estate Capital Institute notes the 20,000-Dow-threshold has started 2017 on a hot streak.  Realty capital markets, however, are more subdued as
mortgage rates are slightly lower than the beginning of the year. 

After bouncing about a quarter point during the month, overall long-term rates are certainly higher than pre-election figures, but still within a comfortable
range.  Lenders are flush with funds per the following popular sources:
Agency/FHA:  Freddie/FNMA combined agency loan production for last year was
at a record level - in excess of $110 billion.  Significant liquidity
assures mortgages spreads will be tight and perhaps even compress more as
the year progresses.  On the legislative front, the new administration is
targeting tax reform, potentially impacting tax-credit driven deals.  New
construction/perm debt combinations (e.g., FHA/HUD 221(d)4) gain more
popularity as many banks pull back from new multifamily construction

Life Company:  Similar to agencies, mortgage spreads are on an even course.
LifeCos actively in the market with funding allocations similar to last
year.  Ideal underwriting focused on 65% or less leverage in return for very
attractive pricing of 150 to 180 basis points over treasuries.  Unique to
this funding sector, fixed-rate forward-delivery loans reach out to a year
at premiums of three to five basis points per month after the initial ninety

CMBS:  Securitized mortgage spreads, too, have been stable during the past
few weeks.  Risk Retention rules governed by the type of risk compliance
chosen by individual conduit lenders. Larger financial institutions issuing
conduit debt, and investing in each layer of the debt stack ("Vertical
Strip"), appear unaffected.  Alternative risk compliance formats
("Horizontal Strip") targeting the highest risk portions of the debt are
still defining securitization strategies. 

Bank:  Basel III regulatory requirements postponed to late in the first
quarter, giving banks breathing room for regulatory negotiations on some of
the more onerous provisions.  Even after considering regulatory issues,
construction funding is challenging, given the new inventory pipeline in
most markets.  Loans are limited to lower leverage and debt-yield thresholds
with strong sponsorship, mostly for existing clients. 

Ms. Jeanne Peck of the Real Estate Capital Institute, advises, "Most of the
attention is diverted from rates to how Trump administration will deal with
loosening tax and financial service regulations.  Lenders and borrowers
alike want more policy clarifications in order to formulate investment goals
and objectives."

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

Jeanne Peck, Executive Director