Thursday, November 29, 2018

Marcus & Millichap Promotes Adolfo 'Al' Palacios to Vice President Investments Miami FL

Adolfo 'Al' Palacios

MIAMI, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced Adolfo “Al” Palacios of the company’s Miami office has been promoted to Vice President Investments, according to Scott Lunine, Regional Manager. Previously, Palacios was a senior associate.

“Al has had tremendous success helping clients achieve their investment goals.  His incredible work ethic and attention to detail has helped him to achieve superior results” says Lunine.

Scott Lunine
Palacios was most recently a senior associate with Marcus & Millichap. He began his career at the firm in July 2008 as an associate and was promoted to senior associate in 2011.

Palacios specializes in retail in the firms’ Miami office. Al has more than 20 years’ experience in the real estate industry and has closed more than 200 transactions valued at over 650 million dollars during his long tenure.


Daniella Aragon
Marketing Coordinator (Front Desk)
Marcus & Millichap
5201 Blue Lagoon Drive
Suite 100
Miami, FL 33126
(786) 522-7000 main
(786) 454-0094 mobile
(786) 522-7010 fax

Winston Hotels, LLC Formed to Develop and Acquire Hotels

Robert W. Winston III
                                        Raleigh, NC, Nov. 28, 2018—Three seasoned hotel executives with a combined 80 years of hotel, development, acquisition and management experience today announced the formation of Winston Hotels, LLC to develop and acquire hotels across the U.S.

            The three executives are:

·                     Robert W. Winston III, executive chairman of the board and co-founder, has been involved in hotel real estate for more than 27 years, most recently as chief executive officer with Winston Hospitality, a hotel operator founded in 1991. 

He is the former co-founder and chief executive officer of the original Winston Hotels, Inc., a publicly traded hospitality REIT (NYSE: WXH) that ranked in the top quartile of public hospitality REITs for shareholder investment returns before being acquired in 2007.

Joseph V. Green
·                     Joseph V. Green, chief executive officer and co-founder, brings with him nearly 40 years of hospitality and real estate leadership experience and in-depth expertise in corporate financand real estate acquisitions/development in both public and private organizations

He co-founded and was president of the original Winston Hotels, Inc., and most recently served as president of The Preiss Company (TPCO), one of the nation’s largest, privately-held, student housing owner-operators with roughly $1.5 billion of assets under management.

Mathew A. Jalazo
·                     Mathew A. Jalazo, executive vice-president of development, has been an integral part of hotel real estate transactions, including acquisitions and development, across the U.S. and Canada in his nearly 15 years of experience. 

Prior to joining Winston, he served as the vice president of development for Urgo Hotels & Resorts, a Bethesda, Md.-based hotel company that develops, acquires and operates distinctive and unique hotels and resorts in major markets and resort locations in the U.S., Canada and the Caribbean. 

 During his tenure there, he was instrumental in growing the company’s portfolio from 18 to 44 hotels. 

Chris Daly,
(703) 435-6293

HFF announces construction financing for speculative Class AA office tower in Denver’s CBD

Rendering of planned Block 162 office tower,
 central business district, Denver, CO

DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announces construction financing for Block 162, a speculative Class AA office tower totaling 595,039 square feet in Denver’s central business district.

Leon McBroom
The HFF team worked on behalf of the borrower, a joint venture between Patrinely Group and USAA Real Estate, to secure the four-year construction loan through PCCP, LLC. 

Block 162 broke ground in June of 2018 and upon completion will be a core, 30-story office tower with 9,900 square feet of ground-level retail and parking in three below-grade and nine above-grade decks. 

The core and shell of the building is being constructed to meet LEED Gold certification, and it will be only the second office tower of 25-plus stories to be delivered in the last three decades in Denver’s CBD. 

A best-in-class amenity package will be highlighted by an 11th floor sky terrace with social lounge, an activated outdoor fitness area in conjunction with a full-service indoor fitness center, bike storage and 2,800 square feet of conference and meeting space. 

Eric Tupler
Block 162 will offer tenants super-efficient rectangular floor plates, floor-to-ceiling glass for maximum natural light, 10-plus foot ceiling heights, on-site security and panoramic views of the Front Range and downtown. 

 The 1.1-acre site is positioned on a corner lot at 675 15th Street in Denver’s Midtown West submarket.  This location is within a short walk of Larimer Square, the 16th Street Pedestrian Mall, the Colorado Convention Center and the Denver Center for the Performing Arts. 

Additionally, the project will be served by an adjacent light rail stop at the 16th and California Street station providing connections to the rest of the CBD, LoDo and Union Station. 

The HFF debt placement team representing the borrower included director Leon McBroom and senior managing director Eric Tupler.


HFF Director
(303) 515-8000

HFF Senior Managing Director
(303) 515-8000

HFF Director, Public Relations
(617) 338-0990

Meridian Capital Group Arranges $14.6 Million in Acquisition Financing for the Wild Pines Apartments, a Multifamily Property in Naples, FL

Wild Pines Apartments, 2580 Wild Pines Lane, Naples, FL

Israel Schubert
Boca Raton, FL – Meridian Capital Group, America’s most active dealmaker, arranged $14.6 million in acquisition financing for the Wild Pines Apartments, a multifamily property in Naples, FL on behalf of Axonic Properties, LLC.

The 36-month loan, provided by a balance sheet lender, features a rate of 1.75% over 30-day LIBOR and one year of interest-only payments.

Akiva Friend
This transaction was negotiated by Meridian Senior Managing Director, Israel Schubert, Managing Director, Max Beyderman, and Senior Vice Presidents, Jason Grimm and Akiva Friend, who are all based in the company’s Boca Raton, FL office.

Located at 2580 Wild Pines Lane, Wild Pines Apartments features two-story buildings totaling 200 units.

The property was constructed in two phases; Phase I is comprised of 96 market-rate units while Phase II consists of 104 rent-restricted units.

All apartments offer nearly identical one-bedroom floorplans averaging 600 square feet, though Phase II units include additional patio and storage areas in addition to washer and dryer connections.

Jason Grimm
The property features community benefits such as a laundry facility, two swimming pools, a gym, and covered parking.

Wild Pines Apartments is located less than two miles from downtown Naples, making the property a convenient home for anyone working in the greater area. 

Its advantageous location allows for a consistent waiting list and also makes the property a prime candidate for an interior and exterior value-add program.

“The sponsor had already received a quote for a very attractive Freddie Mac floating rate loan when we were initially approached for this deal,” said Mr. Friend.

“Meridian was able to leverage our savings bank relationships to bring a par deal to the table at a lower spread and a higher strike price on the interest rate cap, significantly reducing the overall cost of the transaction for the client.”

“Our research showed that a recent change in the tax code could potentially benefit this asset,” said Mr. Schubert. “During the loan process, we were able to secure $500,000 of additional proceeds, further improving the deal’s IRR.

"The combination of our detailed market knowledge with our deep reach in the lending community produced a much better result than the sponsor had originally anticipated.”


Jonathan M. Stern
Managing Director
Meridian Capital Group
1 Battery Park Plaza, 26th Floor
New York, NY 10004
Direct: 212.612.0181
Fax: 212.201.5181