Wednesday, March 13, 2019

29th Street Capital Acquires 438-Unit Limestone Apartments in West Houston, TX

Limestone Apartments, West Houston, TX

Houston, TX – 29th Street Capital (29SC), a privately-held real estate operator, has acquired Limestone Apartments, a 1999 vintage, 438-unit multifamily community located in West Houston. 

29SC plans to implement a capital plan which will include Interior upgrades, new granite countertops, modern paint, black appliances, and new cabinets. Exterior renovations will focus on landscaping, signage and amenity improvements.

Doug Burt
“This is a newer, high-quality asset in a growing submarket,” said Doug Burt, Vice President of Acquisitions in Houston. “Limestone will benefit from the expected population growth of 9% within a five-mile radius over the next five years, and lack of new supply coming to the market.”

Houston’s Class A apartment market is now experiencing improved fundamentals after experiencing declining occupancies and increased concessions due to the development pipeline.

 The U.S. Census Bureau ranked the Houston metro area second in the U.S. for population growth in 2018. It leads the nation in employment growth.

“Houston is expected to receive its lowest number of new units in nearly a decade,” Burt added. “We feel that the market has finally leveled out allowing a clear runway over the next few years.” 

Shell Technology Center, Houston, TX
Limestone Apartments is close to the Shell Technology Center, which has approximately 2,000 scientists, technologists, engineers, consultants, sales and support personnel.

The property is about five miles south of the Houston Energy Corridor via Interstate 6. By 2030, the corridor is expected to reach 45.2 million square feet of office/mixed-use space.

This is 29th Street Capital’s second acquisition in the Houston area in the past six months and ninth in the past five years. Over the past 12 months, 29SC has also acquired 18 conventional multifamily assets throughout the U.S.  and continues to actively pursue additional opportunities. 

The transaction closed March 11. The sale price and seller were not disclosed.


Terri Thornton
Partner, Thornton Communications
Phone: 404-932-4347

Hold-Thyssen Negotiates Four Leases for Retail, Office, Flex Space in Apopka, FL and Southwest Orlando, FL

Alex Rowlinson
Orlando, FL -- Hold-Thyssen, Inc., a full service commercial real estate services firm, recently negotiated four lease agreements in Apopka and southwest Orlando totaling 9,029 rentable square feet.

Hold-Thyssen’s leasing team of Alex Rowlinson and Troy Stevens brokered the transactions on behalf of the south Florida investor / landlord at each location. 

Best Insurance USA, Inc. an affiliate of Florida Blue, leased 1,672 square feet at Kirkman Commerce Center , 701 S. Kirkman Rd. ;  

Amazing Grace World Missions, Inc. a local ministry, leased 1,725 square feet at Silver Star Shopping Center, 5304 Silver Star Rd.  

Mark C. Pope & Associates, a group that sells industrial cleaning equipment, leased 3,745 square feet, and Phenix Salon Suites leased 1,887 square feet at the Apopka Commerce Center , 535 Cooper Commerce Drive .

Troy Stevens

Hold-Thyssen provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  

The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States .


Anthony Fisher, 
Vice President, 
Hold-Thyssen Real Estate Services, 
407-691 0505,

Robert P. Hold,
 Hold-Thyssen, Inc. 

Larry Vershel or Beth Payan,
 Larry Vershel Communications Inc. 

HFF announces sale of Atlanta-area retail center anchored by Walmart Neighborhood Market

Olde Mill Plaza Retail Center, 3101 Roswell Road, Marietta, GA

ATLANTA, GA  – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the sale of Olde Mill Plaza, a 105,847-square-foot retail center anchored by a Walmart Neighborhood Market in the Atlanta-area community of Marietta, Georgia.

Jim Hamilton
The HFF team marketed the property on behalf of the seller, BET Investments.  Livingston Properties purchased the asset.

Anchored by a Walmart Neighborhood Market, the 91-percent-leased Olde Mill Plaza is home to a mix of restaurant, service and necessity tenants, including Just Fitness 4U, Heartland Dental, Los Acros Mexican Restaurant, European Deli, Le Nails Spa2 and K&G Tailors.  

Olde Mill Plaza is in Marietta about 18.5 miles north of downtown Atlanta in the affluent East Cobb Retail submarket.  Olde Mill Plaza is situated on 12.41 acres at 3101 Roswell Road at the intersection of Roswell Road and Old Canton Road, which have a combined traffic count of more than 70,000 vehicles per day.  

Brad Buchanan
More than 70,000 residents earning an average annual income of $133,988 live within a three-mile radius of the center, and the center has limited grocery competition within a 1.5-mile radius.  The property caters to the area's young families, as well as its maturing demographic. 

The HFF investment advisory team representing the seller included senior managing director Jim Hamilton, directors Brad Buchanan and Mike Allison and analyst Andrew Kahn.

About BET Investments

BET Investments, a Bruce Toll owned company, owns, manages, develops and leases retail complexes, apartment buildings and mixed-use projects throughout the United States.  The company’s portfolio has grown to more than five million square feet of commercial space and 4,000 apartments.

Michael Allison
About Livingston Properties

Livingston Properties owns, develops, redevelops, manages and leases shopping centers, NNN properties and office buildings throughout Georgia and South Carolina with its primary focus in the northern suburbs of Atlanta. 

 Livingston Properties is a privately held company owned by Bill Livingston based out of Warner Robins, Georgia.  

The company’s current portfolio consists of over one million square feet focusing primarily on grocery and other big box anchored or shadow centers.  

Andrew Kahn
In business for over 35 years, Livingston Properties welcomes opportunities for other acquisitions within the region.  

Visit to learn more.




GA Lic. #360267
HFF Director
(404) 832-8460



GA Lic. #270038
HFF Senior Managing Director
(404) 832-8460
Bill Livingston


GA Lic. #351151
HFF Director
(404) 832-8460

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

EverWest Secures $63 Million for Refinancing of The Colonnade DFW Office Complex: Three-building, 1.07 million SF Texas Class A office asset enjoys 91.7 percent occupancy

The Colonnade located on 13 acres
along the Dallas North Tollway

ADDISON, TX – EverWest Real Estate Investors, together with Korea-based investment clients, has closed on a $63 million transaction that is part of the refinancing of The Colonnade, a 1,079,190-square-foot, three-building Class A office complex considered one of the premier developments along the Upper Tollway in the Dallas – Fort Worth metroplex.

Tom McCahill
EverWest Executive Vice President Tom McCahill, Managing Director Joe Chickey and Senior Associate for Structured Finance Zi Chong secured the five-year loan through UBS.

The property owner is Fortis Property Group. The Korea-based clients were advised by EverWest and Paramount Advisory, LLC.

“The Colonnade is a true trophy asset that has been meticulously owned and managed by an experienced institutional team,” said Chong.

“The capital improvements and leasing activity that has taken place here has established a strong leasing history, allowing The Colonnade to take full advantage of its premier location and area demographics.”

Joe Chickey
Built between 1983 and 1998 – with $32.5 million in renovations completed between 2015 and 2017 – The Colonnade totals 1,079,190 square feet with three Class A office towers, a three-story amenity-filled atrium and an eight-story parking garage.

The property also includes a variety of dining options, fitness center with locker rooms, retail store and conference center.

 It is LEED Certified, Energy Star rated and has earned multiple “Building of the Year” awards from the Building Owners and Managers Association (BOMA).

Since being acquired by Fortis in 2013, The Colonnade has remained in high occupancy with anchor tenants Hilton, United Surgical Partners, Zurich American Insurance, HQ Global Workplaces and Systemware.

Zi Chong
The Colonnade is located on 13 acres along the Dallas North Tollway, offering quick access to metro Dallas and Fort Worth. It is two blocks east of the Addison Transit Center, which will become a future station along the Cotton Belt Rail Line.

“With these collective advantages in place, it is not surprising that The Colonnade has consistently outperformed its neighboring Class A office complexes,” said McCahill. “We believe that trend will continue, and that the property will continue to hold its position as one of Dallas’ top business centers.”

EverWest launched its structured finance platform in 2013 under the direction of industry veterans McCahill and Chickey, with a focus on originating and managing mezzanine debt, preferred equity financing and B-notes for U.S. commercial properties and developments. 

EverWest continues to actively seek new investment opportunities in major markets across the U.S.

The Colonnade rendering

About EverWest Real Estate Investors LLC

EverWest Real Estate Investors LLC, a wholly owned subsidiary of GWL Realty Advisors, is a real estate investment and operating company based in Denver, Colorado.

The company’s goal is to create significant value for investors through a combination of capital appreciation, strategic acquisition, development, capitalization, repositioning and management of commercial real estate assets.

 For more information on EverWest, visit

For more information on GWL Realty Advisors, visit


Stacey Hershauer
P 480.600.0195

Chatham Lodging Announces Monthly Dividend

WEST PALM BEACH, FL—Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels and owns 137 hotels wholly or through joint ventures, announced that its board of trustees has declared a monthly common share dividend of $0.11 for March 2019.

The common dividend is payable April 26, 2019, to shareholders of record on March 29, 2019.


Patrick Daly
Office Manager
Daly Gray, Inc.
Office:  (703) 435-6293
Cell:  (703) 300-8289