Friday, September 21, 2018

HFF announces sale, financing and equity placement for Tampa, FL hotel

Holiday Inn Express & Suites Tampa-USF-Busch Gardens
ORLANDO, FL – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale, acquisition financing and joint venture equity placement for the Holiday Inn Express & Suites Tampa-USF-Busch Gardens, a 123-room select-service hotel in Tampa, Florida.

Michael Weinberg
 The HFF team marketed the property on behalf of the seller, Waramaug Hospitality.  TCOR Hotel Partners (TCOR) purchased the asset free and clear of existing debt. 

 Additionally, the HFF team worked on behalf of the new owner to arrange a joint venture equity partnership with TriGate Capital, LLC, in addition to a five-year, fixed-rate acquisition loan with a local bank.  HFF brokered the sale of this hotel to the seller in 2015.

Completed in 2008, the all-suite, non-smoking hotel was designed as a Florida Green Lodging choice and has a silver designation. 

Holiday Inn Express & Suites Tampa-USF-Busch Gardens features a heated outdoor pool, fitness center, business center, complimentary breakfast and internet service and 725 square feet of meeting space. 

Located at 2807 East Busch Boulevard, the four-story hotel is just off Interstate 275, adjacent to Busch Gardens and about five miles from downtown Tampa.
Rebecca VanReken

Additionally, the hotel is proximate to other area demand drivers, including Adventure Island, University of South Florida, Florida Hospital Tampa, Shriners Hospital for Children, Moffitt Cancer Center and James Haley Veterans Hospital.

The HFF investment advisory, equity and debt placement teams included senior managing director Michael Weinberg, managing director Rebecca VanReken, senior director Pete Fehlman and director Preston Reid. 

Pete Fehlman
Waramaug Hospitality is a privately held investment group focused on acquiring legacy branded assets throughout the United States.  

Waramaug utilizes its wealth of resources to create a track record in successfully rebranding, repositioning and renovating assets to reach their full potential and become market leaders.  

The company’s portfolio includes flagged and independent full service hotels and resorts, as well as select service hotels under premium brands. 

For more information,

TCOR is a hotel acquisition platform designed to drive value and create superior returns to its investors. The focus of TCOR is on opportunities that provide immediate yield at deal execution, upside operational/management reposition, value to replacement cost and post-acquisition capital improvements and repositioning opportunities for yield benefit. 

Preston Reid
 TriGate Capital, LLC (“TriGate”) is a market leading real estate private equity firm focused on recapitalizing and repositioning real estate assets and companies. TriGate: i) acquires real estate assets that are in need of capital or management focus; ii) provides capital for the recapitalization of commercial real estate assets and companies; iii) acquires non-performing commercial real estate loans; and iv) capitalizes platforms with quality operators that are focused on a specific investment strategy. 



FL Lic. # SL3133790
HFF Senior Managing Director
(407) 745-3900
HFF Managing Director    
(407) 745-3900

HFF Senior Director
(214) 265-0880

HFF Digital Content/Public Relations Specialist
(713) 852-3420

HFF announces $9.5 million sale of 10.93 acres in Raleigh’s Crabtree Valley

                                                                                    Aerial photo by Clear Sky Photography
Carolina Row, within Crabtree Valley submarket, Raleigh, NC

CHARLOTTE, NC – HFF announces the $9.5 million sale of Carolina Row, a 10.93-acre land site within the Crabtree Valley submarket of Raleigh, North Carolina.

 The HFF team marketed the parcel on behalf of a private owner.  Kotarides, a Virginia Beach-based real estate company with holdings throughout the Mid-Atlantic, purchased the property.

Sarah Godwin

 Carolina Row is located at 4315 Lead Mine Road directly across from the 1.4 million-square-foot Crabtree Valley Mall.  Positioned at the confluence of three major thoroughfares, Interstate 440, Glenwood Avenue/U.S. Highway 70 and Creedmoor/Edwards Mills Road, the property is well connected with major employment and residential nodes around North Hills/Midtown Raleigh, downtown Raleigh and Research Triangle Park. 

Justin Good
 Carolina Row is currently improved with a 1960s multi-housing community.
 The HFF investment advisory team representing the seller consisted of managing director Justin Good, director Sarah Godwin, senior director Allan Lynch and managing director Jeff Glenn.

 Holliday GP Corp. ("HFF"), a North Carolina licensed real estate broker.
 Founded in 1963 by Alex and O. Pete Kotarides, Kotarides Holdings has grown into a large, privately held real estate company in the Mid-Atlantic with several million square feet of residential and commercial properties. 

Its divisions include Corinth Residential, Kotarides Developers, Kotarides Builders and KPM, a real estate management division.  The company has projects throughout Hampton Roads, Virginia; Richmond, Virginia; Raleigh, North Carolina; Winston-Salem, North Carolina; and Charlotte, North Carolina. 

 For more information, visit

Allan Lynch
 HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. 

HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. 

HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). 

 For more information, please visit or follow HFF on Twitter @HFF.


NC Lic. #261333
HFF Managing Director
(919) 573-4642

HFF Public Relations Specialist
(713) 852-3500

PR Counsel for Kotarides Holdings
(804) 354-0964

HFF announces sale of urban retail center in Chicago’s Lincoln Park

                                                                                 Aerial photo by McShane Fleming Studios
Clybourn Galleria, Lincoln Park Neighborhood, Chicago, IL

CHICAGO, IL  – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Clybourn Galleria, a 24,601-square-foot, fully leased, urban retail center in Chicago’s Lincoln Park neighborhood.  

 The HFF team marketed the property on behalf of the seller, Newport Capital Partners.  Westwood Financial purchased the asset.  Additionally, the HFF team brokered the sale of this property to the seller in 2013.

Amy Sands

 Clybourn Galleria is situated on .821 acres at 1841-1847 North Clybourn Avenue, which is in the heart of the North and Clybourn retail corridor, one of Chicago’s busiest mixed-use neighborhoods and the dominant retail market serving Chicago’s north side. 

The retail property is surrounded by several of Chicago’s most affluent North Side neighborhoods, including Old Town, Gold Coast, Lakeview and Bucktown/Wicker Park.
More than 498,400 residents live within three miles of the property, and the average household income within a half-mile radius is $161,671. 
Clinton Mitchell

 Completed in 2005, Clybourn Galleria is fully leased to an e-commerce-proof tenant lineup, including Natuzzi Italla Furniture, Jos. A Bank, SWEAT, Massage Envy, Amazing Lash, Smartchoice MRI and Red Wing Shoes.

 The HFF investment advisory team representing the seller included senior directors Amy Sands and Clinton Mitchell.

Newport Capital Partners is an employee-owned, Chicago-based, boutique real estate investment management firm. 

Westwood Financial owns over 70 community shopping centers, primarily-anchored by top-tier grocers, across 26 U.S. markets including Dallas, Phoenix, Atlanta, Los Angeles and Charlotte. 


IL Lic. #475.138622
HFF Senior Director
(312) 528-3650

HFF Senior Director
(312) 528-3650

HFF Digital Content/Public Relations Specialist
(713) 852-3420

Marcus & Millichap Arranges $652,000 Sale of 9,014-SF, Net-Leased Dollar General Site in Laurel, MS

Dollar General Site, 91 Eastview Drive, Laurel, MS

LAUREL, MS  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Dollar General, a 9,014-square foot net-leased property located in Laurel, Miss., according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $652,000.

Daniel Hurd
Daniel Hurd, an investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. 
The buyer, a private investor, was also secured and represented by  Hurd. Elizabeth Williams, Broker, assisted in closing this transaction.
“The dollar store sector has continued to be white-hot this year. In an environment where so many other retailers are consolidating, Dollar General dominates the rural markets where their competitors cannot afford to operate in," stated Mr. Hurd. "
"We are selling deals all across the country and there is no sign that things will slow down anytime soon. My team and I are on pace for a record year and we look forward to a continued growing market share moving forward,”.
Constructed in 2005, Dollar General is situated on an approximately 1.70-acre parcel of land. Dollar General has just over three years remaining on a recent lease extension, which demonstrates their continued commitment to this location.

Elizabeth Williams
Additionally, there are four, five-year renewal options with rent increases associated in each.
Located in Laurel, Miss., Dollar General has traffic counts of more than 17,000 on U.S. Highway 84 East and 23,000 on I-59. Mississippi has consistently been a strong producing market for Dollar General with over 1,300 locations statewide. Dollar General is located at 91 Eastview Drive in Laurel, Miss.

Ari Ravi
Regional Manager, Tampa
(813) 387-4700
Whitney Davis
Marketing Coordinator
Marcus & Millichap
4030 W. Boy Scout Boulevard
Suite 850
Tampa, FL 33607
(813) 387-4700 main
(813) 387-4743 direct