Saturday, June 3, 2017

Meridian Names Cypress West Property Manager of 115,000 SF Newly-Renovated Cotton Medical Center in Pasadena, CA


Cotton Medical Center, Pasadena, CA

John Pollock
SAN RAMON, CA – Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce that the firm has retained Cypress West Realty Management of Rancho Santa Margarita, Calif., to manage Meridian’s 115,000-square-foot medical office complex in Pasadena, California.

CEO John Pollock, categorizes the new partnership as “a strategic move forward.” He continues, “Having completed the extensive renovation of Cotton Medical Center, we now want to focus on providing our tenants and the community best-in-class management services.” 

Meridian purchased Cotton Medical Center in January 2016 for $37.5 million.

Cotton Medical Center is located near the Huntington Memorial Hospital, one of Southern California’s strongest hospital providers, and adjacent to the new Shriners Hospitals for Children opening in June.

The 2.8-acre Cotton Medical Center office complex consists of a four-story, 52,000-square-foot building at 50 Bellefontaine Street, plus a five-story, 63,000-square-foot building and an adjacent subterranean parking garage on 50 Alessandro Place in Pasadena.

Jeffrey A. Johnson
Meridian’s $5 million investment in both the common areas and tenant improvements has been welcomed with enthusiasm from the tenants and the surrounding hospital campuses. 

With Meridian’s completion of the majority of the capital improvements, the common areas, restrooms, arrival experience and building signage have been greatly enhanced.

Cotton Medical Center will also have a new café opening this summer along with a brand-new HVAC. The grounds have been augmented with new landscaping and outdoor furniture.

“We are looking forward to working with Meridian to manage Cotton Medical Center,” said Jeff Johnson, CPM®, a partner at Cypress West. 

“Meridian has done an outstanding job upgrading the building and we are confident that our expertise in medical property management will make our partnership successful and a benefit to the building and its tenants.”

Pollock added, “We didn’t have to look far when selecting our new property management company. Cypress West understands the demands of healthcare real estate and makes attention to detail and tenant satisfaction their top priority. We are excited to partner with such an experienced and hard-working group of professionals.”

Cypress West will take over management of the property effective June 1, 2017.

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

Anne Monaghan

Nominations Open for Third Annual International Society of Hospitality consultants’ Lori Raleigh Award for Emerging Excellence in Hospitality Consulting

Lori Raleigh
Atlanta, GA -- The International Society of Hospitality Consultants (ISHC) announced nominations are open for the third annual Lori Raleigh Award for Emerging Excellence in Hospitality Consulting.

 Launched in 2015 in honor of Lori Raleigh, founder of the Travers Group and executive director of ISHC 2000-2013, the award honors young, successful industry professionals with leadership qualities in hospitality consulting.

“The Lori Raleigh Award for Emerging Excellence in Hospitality Consulting gives young professionals who demonstrate early career success a chance to be recognized for their leadership qualities and efforts,” said Kristie Dickinson, ISHC award committee chair and executive vice president of CHMWarnick.

“For any industry to succeed, there must be a constant influx of new perspectives, innovation and talent. The ISHC would like to recognize the best-of-the-best in the emerging class of hospitality consultants who are on the path to becoming future industry leaders and joining the exclusive ranks of ISHC membership.”

Candidates for The Lori Raleigh Award must be 35 years of age or younger at the time of the award presentation and meet the criteria for ISHC’s associate membership, including five years’ experience in a hospitality-related field with a minimum of three years of specific hospitality consulting experience. 

They also must be recognized by their company leaders or other industry constituents who are familiar with their work as an exceptional example of a future leader within the field of hospitality consulting. 

At the time of nomination, a candidate must be working for a company that provides third-party consulting or advisory services to the hospitality industry and be actively involved or responsible for providing advisory services to clients of the firm (e.g., hospitality consulting firms, third-party asset managers, architects, designers, food and beverage consultants, hospitality lawyers, purchasing companies, etc.).

 Prior award winners are not eligible for nomination, while prior nominees who have not previously won remain eligible. Winner must be available to attend the annual conference for the award presentation in Bangkok, September 14 – 16, 2017.

Nominations are due by June 30, 2017. The winner will be announced in mid-July and presented at the ISHC Annual Conference in Bangkok, Thailand, September 14 – 16, 2017, at the InterContinental Bangkok Hotel. Winners will receive a one-year associate membership in ISHC, where networking opportunities with the industry’s top consultants become available with this invitation-only group of hospitality experts, as well as complimentary registration and travel allowance to attend to the event itself.

Kristie Dickinson

Last year’s winner was Ali Hoyt, director, Consulting and Analytics at STR. 

During her five-year tenure with STR, Hoyt continually undertakes leadership roles on internal committees, having already been promoted twice since joining.  Her responsibilities include overseeing consulting assignments, developing analytical models and templates, creating custom products and presenting industry data. 

Ali Hoyt

Additional duties include finding new industry applications for 30 years of hotel performance data, training new associates, assisting with internal projects such as STR’s online data platform and representing the company as a frequent speaker at industry conferences and events. 

Early highlights with STR have included developing custom data solutions for several clients, designing underwriting templates in order to streamline client due diligence processes and working with several of the major hotel firms in evaluating the validity of their competitive sets. 

Prior to STR, Hoyt worked at Starwood and at her family's ski resort in New Hampshire. She attended Cornell University’s Hotel School, is president of the Colorado-Rocky Mountain chapter of the Cornell Hotel Society and is certified in hotel industry analytics from AH&LA. She also is vice president of adoptions for Save the Giants Rescue, a volunteer dog rescue organization.

Andrea Belfanti
“It is important to ISHC to give back to the hospitality industry and foster new talent, and it is wonderful to recognize emerging consultants that are already making an impact,” said Andrea Belfanti, ISHC executive director.

 “Since the award winner is invited to be an associate ISHC member for a year and to attend our annual conference, we hope this will be a real catalyst for their career by providing unique educational and networking opportunities.  

"ISHC believes in the power of collaboration and idea exchange and the immense impact that can have on an individual and the industry.”

For more information on The Lori Raleigh Award, please visit

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

Lauren Marshall, Senior Manager of Marketing & Membership Services
Email:  Phone: 678-735-9453


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

Passco Cos. Acquires Class A 250-Unit Multifamily Community in Suburban Tampa, FL for $49.7 Million

Pearce at Pavilion Apartments, Riverview, FL

Colin Gillis
TAMPA, 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 Pearce at Pavilion, a 250-unit Class A multifamily community in Riverview, Florida – fifteen minutes southeast of Downtown Tampa.

The apartment community was purchased from a joint-partnership between Adler Group and Mattoni Group for $49.7 million.

This is Passco’s third multifamily acquisition to close in Florida in the last month and brings the firm’s holdings to more than 2,000 units throughout the region, according to Colin Gillis, Vice President of Acquisitions for the Southeast at Passco Companies.

“We are very focused on all major metropolitan areas throughout Florida,” says Gillis. “Nowhere are we seeing such progressive economic growth than we are here. The region has one of the most dynamic economic profiles in the U.S. and we continue to find exceptional opportunities across the state.”

Michael M. Adler, CEO of Adler Group adds, “This transaction further proves that Pearce at Pavilion filled a void in the Tampa submarket by providing unparalleled apartment residences and amenities. We are proud to have participated in the land acquisition, development, construction, lease up and exit of this project.”

Michael M. Adler
            The apartment community is located at 3603 Pavilion Palms Center in Riverview, Florida. JBM Institutional Multifamily Advisors represented the seller. 

Chris Black of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing for Passco Companies through Fannie Mae.
Located in the Tampa Bay MSA, Pearce at Pavilion is well-positioned to benefit from the region’s exceptionally strong job and population growth, according to Gillis who notes that more than 55,000 jobs have been added to the area in the last two years.

 In addition, the metro’s population is anticipated to grow nearly eight percent by the end of 2018.

“This rapid job creation and migration of workers will result in continued demand for multifamily housing throughout the area,” says Gillis. “In fact, the Tampa Bay MSA currently has a multifamily vacancy rate below five percent. This vacancy rate is below the national average, and is indicative that demand is greatly outpacing supply, making this a strong addition to our growing portfolio in the region.”

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

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