Wednesday, January 17, 2018

HFF announces $26.715 million construction loan for adaptive re-use project in Nashville, TN

Daniel Kaufman
CHICAGO, IL – Jan. 17, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces a $26.715 million construction loan for the adaptive re-use of the former May Hosiery textile mill in Nashville, Tennessee.

The HFF team worked on behalf of the borrower, Chicago-based AJ Capital Partners, to secure the two-year, floating-rate loan through LoanCore Capital.  Loan proceeds will be used for the renovation and the remaining lease-up of the property.

Originally built in 1909, the 120,000-square-foot facility was home to May Hosiery, which made socks for most of the twentieth century.  The property was mostly vacant for the last three decades and is now being redeveloped into a vibrant mixed-use property featuring 80,000 square feet of creative office space and 40,000 square feet of retail and restaurant space. 

 The project also includes a private rooftop terrace and central outdoor spaces.  At the time of closing, May Hosiery was 47 percent pre-leased to Tuck-Hinton Architects, Southcomm Media, Dream Technologies, Parson’s Chicken and Fish, and Blockhouse Barbers. 

Christopher Knight

The development is located at 425-431 Chestnut Street and 510 Houston Street in the dynamic Wedgewood Houston neighborhood, which has become one of Nashville’s fastest growing mixed-use communities.   

The HFF debt placement team representing the borrower included managing director Danny Kaufman and director Christopher Knight

“It was an absolute pleasure to work with the team at AJ Capital and LoanCore on this financing,” said Kaufman.  “AJ consistently creates successful and totally authentic real estate projects that capture the spirit of their locations.  It is very special to be part of their creative process.”

“The May Hosiery project is well conceived and will satisfy growing demand for innovative office and dynamic retail / entertainment space in Nashville’s Wedgewood Houston neighborhood,” added Knight.

AJ Capital Partners is a dynamic private equity investment and development organization with a portfolio of lifestyle hotel, luxury resort, and mixed-use assets across North America.

 Founded in 2008 by Ben Weprin, the company’s core competency is the creation of distinctive, locally-inspired properties set in high growth and high culture environments with diverse demand generators.  

Ben Weprin
Its experienced team leverages their hospitality-centric approach to design, programming, and place-making to drive long-term value creation in timeless real estate. 

The company has specific expertise in the execution of major adaptive re-use projects with historical significance, repositioning of existing assets, and ground-up development in U.S cities and university towns.

This body of work includes The Chicago Athletic Association, Calistoga Ranch, Soho House Chicago, Thompson Nashville, and Graduate Hotels.

For more information on this release, please contact:

HFF Director, Public Relations
(617) 338-0990

Embassey Suites by Hilton New York – Midtown Manhattan Celebrates Grand Opening

Embassy Suites by Hilton New York -- Midtown Manhattan

MANHATTAN, NY,  Jan. 17, 2017--The Buccini/Pollin Group, Hidrock Properties and Hilton Hotels & Resorts today announced the opening of the 310-suite Embassy Suites by Hilton New York - Midtown Manhattan in New York. 

BPGS Construction oversaw entitlement and construction of the project, and PM Hotel Group performed technical services during programming, design and construction and manages the newly opened hotel. 

CAMPION PLATT Interiors was selected to design the hotel’s public areas, while HVS Design was responsible for the guest suite and corridor designs, and PPA provided the architectural plans.

Dave Pollin
BPG was intrigued by the opportunity to build New York City’s only Embassy Suites by Hilton hotel in an irreplaceable location.  

While New York City has witnessed an explosion of new select-service hotels on the fringes of the city’s business and residential districts, the Embassy Suites’ core location, unique and differentiated brand, all-suites configuration, multiple F&B options and 39-story design set this project apart.

 Located between 5th Avenue and 6th Avenue on 37th Street, the hotel has great access to uptown, downtown, the city’s most important transportation hubs, and crucially, Midtown South’s busy office submarket. 

Finding a site that could accommodate the Embassy Suites brand, regardless of location, was also paramount.  The 37th Street site is block-through, providing for access to both 36th and 37th Streets, and the requisite width and depth to accommodate an all-suite configuration. 

The Embassy Suites brand is known as a category killer, meaning that it dominates its segment – the all-suite format.  Each suite comes with much more space than traditional hotels, especially the newer, economy projects being built on the fringes of the city.

 The Embassy Suites brand is also highly differentiated through its value proposition – a complimentary, cooked to order breakfast and hosted evening reception – in addition to providing a selection of a la carte dining and bar options.  Finally, BPG was motived by the potential to build a 39 story building when much of the surrounding neighborhood is approximately 20 stories tall, providing stunning views of Manhattan.

With three bespoke food and beverage concepts, including one of Manhattan’s most coveted outdoor bar and function spaces, the Embassy Suites New York - Midtown Manhattan invites the community and hotel guests to enjoy a drink from its seasonal cocktail program developed by local mixologist and distiller, Allen Katz. 

Allen Katz
“BPG believes that if we hired a typical commercial hotel designer, we would get a typical commercial hotel design,” said Dave Pollin, BPG co-founder.  “Many travelers today can’t tell the difference between a hotel located in Cleveland or one in Canberra due to ‘generic hotel aesthetic blur.’ 

We hired Campion Platt to set the tone and lead the design team due to his NY experience and sensibilities; they were apparent at our very first meeting.  Campion grasps the city at its DNA level, including a deep historical understanding of the Garment District. 

“We sensed that Campion also shared our belief that the people who work and live in the neighborhood, especially the generations that preceded us, create what make it special today.  Campion also is brilliant at adding memorable, irreverent and witty design flourishes to commercial spaces that need to function efficiently and be resilient for decades.”

Located at the crossroads of New York City - Herald Square and the bright lights of Broadway - the 39-story Embassy Suites by Hilton New York - Midtown Manhattan hotel is the place to see and be seen.   With a glass façade offering supreme views of the iconic New York City skyline, the hotel is surrounded by Ernst & Young, IPG and Morgan Stanley and only a quick walk to Times Square, the Empire State Building and 5th Avenue shopping.  Penn Station and Grand Central Terminal are both steps away, easily connecting the hotel to LaGuardia, JFK and Newark airports and Amtrak’s NE Corridor.

Campion Platt
The hotel's 310 studio suites are elegant spaces consisting of sophisticated, custom finishes.  Many feature semi-private living areas with an oversized sofa seating area, some contain balconies, and all provide sweeping city views. 

 Suites provide complimentary WIFI, two 42-inch HDTVs, spacious work area, mini-fridge, microwave and coffeemaker. Luxury bath amenities and spa-like showers make the bathroom experience unique in New York.

The Embassy Suites resides in New York’s famed Garment District, the nexus of American Fashion. The Garment District serves as the creative hub of the apparel industry and is a destination for wholesale buyers, designers, stylists, retailers, students, shoppers and fashionistas around the world.

SkyLawn, the hotel’s innovative outdoor venue, can host events for up to 300 people.  The Heist Bar & Lounge intrigues guests by celebrating the greatest jewel heists in history through inventive cocktails while paying homage to New York’s famed Diamond District. The eclectic fare ranges from deviled eggs three ways to “The Heist” burger, served “with all the crown jewels.”  

The Farm Café on the third floor features a relaxing, sun-filled room for all day dining set against lacquered barn wood and tiered landscaped terraces. All hotel guests enjoy complimentary, cooked-to-order breakfast and evening cocktail reception daily at the Embassy Lounge.

BPG, Hidrock and the Embassy Suites development team engaged Campion Platt, one of NY’s most renowned interior designers, to envision and create an authentic New York design that captures the energy and innovation of the Garment District.   

Garment District, New York City, NY

From the loading dock’s glass wall, movie-projection system, to the soaring three-story lobby “water column,” to the hotel’s lobby “jewel box,” a playful homage to New York’s famed diamond dealers, the interiors feature multiple surprising features inspired by the fashion industry.  

The cool metallic and colored glass interiors are balanced with richly textured textiles and set against a quirky blend of commissioned art in partnership with Voltz Clarke.

For more information on this news release, please contact:

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

Lincoln Property Company Closes on Long Term Lease to International Law Firm at Airport Business Center in South Orlando, FL

Sean DuPree
ORLANDO, Fla. – Lincoln Property Company Southeast, a full service commercial real estate firm, completed a new long-term lease agreement for 3,325 square feet at Airport Business Center, 5782A S. Semoran Blvd in Orlando.

Sean DuPree, broker at Lincoln Property who handles leasing at Airport Business Center, negotiated the transaction on behalf of Landlord RCS-Orlando Airport 371, LLC.

Urban Thier and Federer, P.A. ( leased 3,325 square feet in the office / flex business park at the intersection of Hoffner Ave. five minutes from Orlando International Airport.

The Tenant is an international law firm with offices throughout the U.S. including downtown Orlando, Palm Beach, Atlanta, New York and Los Angeles.  In Europe their offices are located in London and Munich.
For more information on this news release, please contact:
Larry Vershel or Beth Payan, Larry Vershel Communications Inc.

Pat Williams named head of JLL Phoenix office

Pat Williams
PHOENIX, Jan. 17, 2018 – The Phoenix office of JLL has named Pat Williams as Senior Managing Director and new head of the Phoenix JLL office, overseeing a team of 46 local commercial real estate brokers specializing in tenant and investor representation across a broad range of product types.

Williams previously served as the head of the JLL Phoenix tenant representation team and co-leader of the Phoenix office alongside Senior Managing Director Dennis Desmond. With the transition, Desmond will move to an expanded role within the JLL Capital Markets group.

Williams joined the local JLL office in 2000, serving as a tenant representation expert and one of six founding team members within what – at the time – was the Staubach Company, the nation’s leading tenant representation firm.

In 2008, the Staubach Company was purchased by JLL. In 2011, Williams was promoted to Managing Director and named head of the JLL Phoenix tenant representation team.

Since that time, Williams and Desmond have grown JLL’s Phoenix office to reflect the company’s comprehensive commercial real estate platform, which in Phoenix now includes tenant and landlord (agency) office, industrial, retail, healthcare and data center representation; commercial real estate investments (capital markets); multifamily investments; property and facility management; development services; and related services within the real estate leasing, investment and management process.

Dennis Desmond
“It has been gratifying to watch the Phoenix office grow into a leading market position, yet still maintain the attention to detail and client-centric philosophy that we’ve had from the start,” said Williams. 

“I’m honored to work alongside this talented group of experts, and look forward to the opportunities we have ahead of us to put Phoenix’s market strengths to work for our clients.”

Since Williams joined the Phoenix office, it has grown from six to more than 60 brokers and support team members.

 In 2016, the Phoenix team completed 34 million square feet in lease and sale transactions valued at $1.5 billion, directed $105 million in project management and currently manages a 25.2 million-square-foot portfolio.

billion, directed $105 million in project management and currently manages a 25.2 million-square-foot portfolio. For more news, videos and research resources on JLL, please visit

For more information on this news release, please contact:

Stacey Hershauer
Phone: +1 480 600 0195

THE DREVER Commences “Parthenon” Marble Makeover in Dallas, TX

Rendering of The Drever Redevelopment, Central Business District,
 1401 Elm Street, Dallas, TX

DALLAS. TX –– Drever Capital Management’s 1.5-million-square-foot re-development of the former First National Bank of Dallas building in the heart of the Dallas Central Business District at 1401 Elm Street, has commenced removal and restoration of the historic marble slab panels on the building’s façade.

Steve McCoy
The highest quality materials available were sourced during the construction of the historic building, originally importing the dense, handsomely veined white marble slabs from the same quarry in Greece as the marble used to build the still-standing Parthenon.

Steve McCoy, president of Drever Construction Co. worked with lead architect, Merriman Anderson/Architects, and contractor, Andres Construction, to develop a solution to remove, restore and reinstall the slabs with new connections that will secure and stabilize the tower’s exterior for decades to come. 

The process provides a surplus marble and terrazzo that, to the delight of the project’s interior designers, will be reutilized in the building’s interiors.  The project is scheduled to be complete by the end of 2018, with the building opening in the first quarter of 2019. 

“The process will allow this irreplaceable stone to not only be restored to its former glory, but remain as a sound element of the building’s structure for many years to come,“says McCoy. “The fact that the team was able to find a way for the excess marble to be repurposed adds another layer of history to this already impressive structure.”

Now known as THE DREVER, the skyscraper was originally designed by architects George Dahl and Thomas E. Stanley and has been home to Hunt Oil, the Dallas Petroleum Club, and the fictitious J.R. Ewing’s staged office set for Ewing Oil in the television hit program, “Dallas”.

Aimee Sanborn
 The mid-century 52-story tower’s distinctive façade was often compared to the pin-striped fabric of a traditional banker’s suit because of the repeating pattern of white marble and dark gray floor-to-ceiling windows. 

THE DREVER re-development will include a luxury high-rise offering 324 residential units, a Thompson Hotel planned with 218 rooms, spa, retail, office and destination restaurants.

Dallas-based architects, Merriman Anderson/Architects, are the lead architects and designers designing the re-imagined interior and exterior, and are delighted with the decision to recycle the existing marble panels. Andres Construction is the construction manager overseeing the overall building project.

“The original marble is from Mount Pentelikon, a mountain range located in Attica, Greece,” says Aimee Sanborn, AIA, principal with Merriman Anderson/Architects. “It’s a beautiful natural stone with wonderful veining.  We were able to locate the quarry in Greece and have identified the exact species. To re-purpose 100% of the existing exterior marble tells a compelling cradle-to-cradle story of up-cycling.”

The condition of the panels and the integrity of the building’s engineering necessitated the decision to refurbish the marble. Existing mechanical connections were separating from the original structure. The panels will be refurbished by cladding the natural stone to a structural aluminum honeycomb backer panel, which will insure the engineering integrity and the historical value of the original marble slabs.

HyCOMB USA is responsible for the stone cutting and the application of the new structural aluminum honeycomb panel. Besides creating extra marble slabs for the building interiors, marble remnants from the cutting and cleaning process will be crushed and repurposed into terrazzo to be utilized in the elevator cab floors, elevator lobby flooring and flooring on the 9th floor amenity deck.

Jerry Merriman
“I commend Drever Capital Management for their unwavering commitment to the quality of this project,” remarked Jerry Merriman, AIA, president of Merriman Anderson/Architects. 

“Re-purposing is generally more expensive and time consuming than demolishing and replacing with new. The building’s owner, Maxwell Drever, appreciates the significance of this building to the history of Downtown Dallas.”


Located on an entire Dallas city block at Elm Street, Pacific Avenue, Akard Street and N. Field Street, plans for THE DREVER mixed-use project include best-in-class multi-family, hotel, retail, restaurants, office, spa and parking. The 52-story, 1.5-million-square-foot skyscraper is designed to offer a luxury residential and best in class boutique hotel option with contemporary, inviting and culturally rich public and private spaces.

Maxwell Drever
When completed, THE DREVER’S eight-story tower base will be transformed into a dynamic area with more than 27,000-square-feet of ground floor retail space, 44,000-square-feet of office space, the hotel and residents’ lobbies and a grand ballroom. 

 A wraparound amenity deck with sightlines to surrounding buildings, including a resort quality pool, a spa, a health and fitness room, dog-park and outdoor recreation spaces will be on the 9th floor at the top of the base element. The 50th floor will feature an open-to-the-public observation deck.

For further information, please visit

 Kristina Uresti
Culver Public Relations
3102 Maple Ave., Suite 235
Dallas, TX  75201

214.352.5980 office