Saturday, June 16, 2018

Award-Winning Shaner Hotel Group Takes Over Management of Sebring’s Château Élan Hotel & Conference Center

Chateau Elan Hotel & Conference Center, Sebring, FL

SEBRING, FL - Officials of the 123-room Château Élan Hotel & Conference Center announced that the award-winning Shaner Hotel Group, one of the hospitality industry’s leading owner-operators of fulland select-service hotels, will take over operations of the hotel beginning Saturday, June 16.

Plato Ghinos
“We plan on leaning on Shaner to use their experience and contacts in the hospitality industry to bring new and creative ideas to Château Élan,” said Rick Humphrey, vice president, IMSA Properties. “They are associated with a variety of brands and bring a wealth of experience to the property.

“The Château Élan will benefit from the economies of scale and best practices afforded by Shaner’s additional hotels in Florida.  

"The hotel also will make use of Shaner resources for an expanded reach for events and other meetings that are taking place in the state.”

Situated next to Sebring International Raceway on the famous hairpin turn, the Château Élan is a premier, luxury hotel that provides an array of upscale services, from spa treatments to fine dining. 

With trackside viewing, conference meeting space and golf packages, the property targets business and leisure travelers to Central Florida. Hotel amenities include an outdoor pool and more than 7,000 square feet of meeting space. 

“The Sebring property is a natural expansion of our operations in Florida,” said Plato Ghinos, Shaner President. “Our current co-development and partnership at One Daytona hotels gives us the opportunity to expand our sports venue hotel portfolio with our quality partners.”

The Château Élan is one of three IMSA Properties. The others are two of the most prestigious road racing facilities in the world - Road Atlanta in Braselton, Ga., and Sebring International Raceway in Sebring, Fla., which is adjacent to the hotel.

Rick Humphrey
Shaner has a rich tradition of dedicated, high-quality hotel management service that dates back three generations. The company is dedicated to meeting the needs of customers and the resourcefulness of the company’s associates. 

The company, based in State College, Pa. has 17 properties in Florida out of its 55 worldwide that it manages. Two of those include the recently opened Fairfield Inn and the soon to be open The Daytona, Autograph Collection in the One Daytona development across from Daytona International Speedway.

 For more information, please contact:

620 Herndon Parkway, Suite 115 | Herndon, VA 20170
Main: 703-435-6293
Mobile: 703-864-5553 or call 888-844-6835.

Alpha Wave Investors Acquires 144-Unit Mulitfamily Property in Rapidly Growing Las Vegas Market

Cypress Springs Apartments, Centennial Hills Submarket,
Las Vegas, NV

Jordan Fisher
LAS VEGAS, NV --  Alpha Wave Investors, a private equity investment firm specializing in opportunistic and value-add multifamily and hospitality assets in the Western U.S., has acquired Cypress Springs Apartments, a 144-unit multifamily community situated in the Centennial Hills submarket of Las Vegas. Alpha Wave acquired the asset in an off-market transaction for $15 million.

“The Las Vegas market is experiencing some of the fastest population and job growth in the country, making it an ideal locale for strategic investment,” says Jordan Fisher, a Founding Partner of Alpha Wave Investors.
“There is tremendous excitement surrounding new projects in the region, including the multi-billion-dollar Raiders stadium, several new billion-dollar-plus hotels on the strip, as well as growth of major employers such as Amazon, which is developing a second distribution center in the region.”

Devin Lee
The city, which ranks among the top 10 metro areas for population growth, boasted the second-largest employment gain in the U.S. last year, growing 2.9 percent. Fisher notes that the resulting multifamily rent growth - up 5.3 percent year-over-year – demonstrates that market fundamentals are strong enough to support true value-add investments.
“Our focus is always on properties that are poised for renovation and repositioning that will cater to the demands of the local rental market. Cypress Springs meets that criteria perfectly,” Fisher says.
Fisher also explains that Cypress Springs’ location in northern Las Vegas is a strategic advantage.
“New multifamily product being built in Las Vegas has been concentrated in Summerlin and Henderson – all in the southern part of the market,” explains Fisher.  “Our property is situated in the north, where there is little to no new supply, making the asset well-positioned to attract and retain residents seeking upgraded workforce housing in the region.”
The seller, a private investor based in California, owned the asset for more than a decade and kept it well-maintained, according to Fisher.

David Walkin
“Because the property is already in good condition, we have the opportunity to focus all capital improvements on amenities and upgrades that will drive NOI growth and support long-term value for residents,” Fisher continues.

Alpha Wave plans to implement approximately $1.7 million in upgrades and improvements to the property, including the addition of security gates, a play structure, a dog park, an outdoor gas barbeque, new landscaping, exterior paint, a new pool area, clubhouse, and fitness center, as well as fully renovated interiors.
Devin Lee, CCIM of Northcap Multifamily identified the opportunity for Alpha Wave and represented both the buyer and seller in the off-market transaction.
David Walkin of Meridian Capital Group, LLC arranged $13.65 million in acquisition financing for Alpha Wave from lender Resource Real Estate Funding, Inc.
“It was clear that Resource Real Estate Funding quickly understood our vision for the project, and the collaboration between Devin, David, and the lender made for a seamless transaction,” noted Fisher.

Ken Cruse
Built in 1994, Cypress Springs Apartments offers large one-, two- and three-bedroom apartments in close proximity to employment and transit, as well as a wide variety of restaurants, retail, and entertainment options. The property is located at 3651 Rancho Drive in Las Vegas, Nevada.
            Led by Ken Cruse, former CEO of a $5 billion publicly traded REIT, as well as Jordan Fisher and David Sloan, Alpha Wave Investors targets opportunistic and value-add investments and conducts management through its in-house property management platform.

For more information, please contact:
Samantha Kay ·  Account Coordinator 
O 949 955 7940 
Brower Group, Inc.
The Smart Agency™ for Smart Clients who want Smart Work
895 Dove Street, Third Floor · Newport Beach, CA 92660

Jenn Quader
Brower Group
(949) 955-7940

Griffin-American Healthcare REIT IV Enters Agreement to Acquire Portfolio of Skilled Nursing Facilities in Missouri for $88.2 Million

Stefan Oh

ST. LOUIS, MO – American Healthcare Investors and Griffin Capital Company, LLC, the co-sponsors of Griffin-American Healthcare REIT IV, Inc., announced the REIT has entered into an agreement to acquire a portfolio of skilled nursing facilities located throughout the state of Missouri for $88.2 million.

The acquisition is subject to customary closing conditions and the satisfaction of other requirements as detailed in the agreement, and therefore, no assurance can be given regarding the closing of this acquisition.

 Missouri Skilled Nursing Facility Portfolio is comprised of eight properties totaling 1,112 licensed beds and approximately 384,000 square feet.

The portfolio will be 100 percent leased under a 15-year absolute net lease with two 10-year renewal options and with annual rent escalators tied to the consumer price index with a floor of 2 percent and a cap of 3 percent.

 “This portfolio of skilled nursing facilities adds greater diversification to the Griffin-American Healthcare REIT IV portfolio in terms of geography, asset class and revenue,” said Stefan Oh, executive vice president of acquisitions for American Healthcare Investors and Griffin-American Healthcare REIT IV.

“This potential acquisition is especially attractive as the portfolio is comprised of well-performing skilled nursing facilities in desirable locations that are subject to a long-term absolute net lease.”

For more information, please contact:

Damon Elder
Spotlight Marketing Communications
(949) 427-5172 ext. 702

HGTV Selects Illustrated Properties’ Boca Raton Mansion Listing as Finalist for “Ultimate House Hunt 2018”

899 Enfield Street, Boca Raton, FL

BOCA RATON, FL, June 15, 2018 – A brand-new Boca Raton mansion exclusively listed by Kathryn Gillespie of Illustrated Properties - a member of The Keyes Family of Companies - has been selected as a finalist in HGTV’s international “Ultimate House Hunt 2018,” an annual promotion curates the world’s most stunning real estate listings.

Kathryn Gillespie

The 899 Enfield Street home, which is on the market for $11.5 million, is one of 12 worldwide properties to be chosen for the “Waterfront Homes” category.
The mansion is also the only property in South Florida to be selected by HGTV. Renowned luxury residential developer Mary Widmer of JMW Florida Properties completed construction of 899 Enfield Street during the first quarter of 2018.

Mary Widmer

The HGTV contest is a month-long online promotion being held on from June 12 through July 17, winners are decided by online votes. During the contest period, consumers vote for their favorite home.  More than one million votes were cast in the 2017 edition.
Widmer designed and developed the stunning six-bedroom, eight-bathroom estate. Crafted to impress, the 10,000-square-foot home is the 11th property designed and developed by JMW as part of the Mary Widmer Luxury Collection.

Ron Rickert
Located less than 10 minutes from the Boca Raton Airport, 899 Enfield is the only new construction home on a direct Intracoastal Waterway point lot available in Boca Raton, according to Gillespie. The gated property has 202 feet of water frontage, providing a panoramic experience of the best views waterfront living has to offer.
“It is an honor to have the opportunity to showcase this one-of-a-kind new construction masterpiece on an international stage,” said Gillespie.
The editors at HGTV recognized that 899 Enfield Street is an estate of significance, flawless design and unparalleled construction and craftsmanship. Not surprisingly, interest in the property is strong- especially from markets in the Northeast.”
Masterfully designed by Ron Rickert, Managing Principal at lntelae, LLC. This architectural marvel is perfectly situated on an east facing waterfront lot.

Ed Clement
The estate constructed by Ed Clement of Sabre Custom Homes features six bedrooms, eight full baths, a 12-seat media room, club room, private office, two 50-foot concrete docks for boating enthusiasts, an Infinity Edge pool with a spa and a four-car garage with a lift – among other standout amenities.

Gillespie has lived and worked in the Boca Raton area for more than 30 years, leveraging her deep understanding and experience in the local market when handling all aspects of real estate transactions for her clients.

Heavily involved in the community, Gillespie is past chair of the Boys and Girls Club Board of Directors in Boca Raton and is involved with The Arc of Palm Beach County and Impact 100 Palm Beach County.

“We congratulate Kathryn and the Illustrated team on securing this incredible recognition,” said Mike Pappas, President and CEO of Illustrated Properties.

“We are excited for HGTV enthusiasts to discover this unique listing. Keyes and our Family of Companies encourage our agents to utilize our marketing, tools and infrastructure and apply their own creativity to maximize exposure and results.”

Mike Pappas
Independently-owned and operated since its founding in 1926, Keyes is extremely active in luxury residential real estate.

In July 2016, Keyes and Illustrated Properties announced the completion of a merger between the two companies, which continue to operate under their existing brands. 

Overall, Keyes and Illustrated generate more than $6 billion in annual revenue from their real estate service lines.
Following the merger, Keyes and Illustrated are, together, 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, the companies have in excess of 1,100 Sales Associates and produce double the sales volume of their closest competitor.
For more information, please contact:

Eric Kalis or Jasmin Curtiss, BoardroomPR