Monday, June 24, 2019

Blue Sky Hospitality Solutions Celebrates Six-Month Anniversary with Addition of 51st and 52nd Hotels

 615-room Long Island Marriott in Uniondale, NY

UNIONDALE, NY—Officials of Blue Sky Hospitality (BSHS), one of the leading and fastest growing hotel owner/operators in the United States, today announced that the company has acquired the 220-room New Orleans Marriott Metairie at Lakeway in La., and the 615-room Long Island Marriott in Uniondale, N.Y.
David Fincannon
 “The hotel cycle is maturing, which creates growth opportunities for experienced operators and investors with a contrarian approach to the industry,” said David Fincannon, COO, BSHS.  

 “We have accumulated a substantial portfolio of managed and owned properties in just six months, and we have a substantial appetite to do more. 

 "We currently own and operate all 52 properties in our portfolio and now have the infrastructure, operating systems and structure to take on third-party management contracts. 

"As we grow, we will pivot to focus predominantly on operations on behalf of other ownership groups.

“With a C-suite encompassing more than 570 years of hotel development, ownership and operations experience, we are well positioned to take advantage of the current market conditions,” Fincannon added.

Naveen Shah
 “As the number of voices warning of a potential slowdown grows, savvy owners seek operators capable of eliminating unnecessary waste without sacrificing guest satisfaction or revenues. 

"Having owned and operated in all phases of the economic cycle, Blue Sky Hospitality Solutions has direct experience doing just that, as evidenced by a solid first half of the year and a portfolio that leads many industry metrics.”

                Led by Founder and CEO Naveen Shah, BSHS is rounded out by COO David Fincannon, Executive Vice-President Ernie Catanzaro and Executive Vice-President Mark Irgang. 

Ernie Catanzaro
 Shah brings with him nearly three decades’ worth of industry experience, coming most recently from Navika Capital Group, a self-advised commercial real estate company. 

Fincannon also came from Navika, where he served as chief operating officer.  Catanzaro most recently served as head of hospitality for NY-based Olshan properties, and Irgang was regional vice-president of operations at Flex Point Hospitality.
Blue Sky Hospitality Solutions is an approved operator with the world’s leading hotel brands, including Hilton Worldwide, Marriott International, InterContinental Hotels Group, Choice Hotels, Wyndham Hotels & Resorts and La Quinta Inn & Suites. 

The company’s portfolio covers a variety of segments and includes a full array of full- and select-service hotels, as well as extended-stay and all-suite properties throughout the United States.

Mark Irgang
New Orleans Marriott Metairie at Lakeway

                Located at 3838 N. Causeway Blvd., the New Orleans Marriott Metairie at Lakeway is situated in the hub of Metairie’s central business district and just a few miles from Audubon Aquarium of America, New Orleans Botanical Gardens – City Park and the French Quarter. 

Guest rooms are furnished with free Wi-Fi, plush bedding and views of either Lake Pontchartrain or the New Orleans skyline (in select rooms). 


620 Herndon Parkway, Suite 115 | Herndon, VA 20170
Main: 703-435-6293
Mobile: 703-300-8289

Chris Daly
(703) 435-6293

EverWest and CarVal Investors Complete $46 Million Sale of The Circuit in Tempe, AZ

The Circuit, intersection of the Loop 101 and Loop 202, Tempe, AZ

PHOENIX, AZ, June 24, 2019 – EverWest Real Estate Investors and CarVal Investors have completed the $46 million sale of The Circuit, a 185,000-square-foot adaptive re-use office project located at the intersection of the Loop 101 and Loop 202 in Tempe, Arizona.

Chris Toci
EverWest and CarVal were represented by Chris Toci of Cushman & Wakefield. The property buyer is Strategic Office Properties, a wholly owned subsidiary of TPG Real Estate.

“The Circuit was designed to attract large, creative office users and it has been a textbook execution of that strategy,” said EverWest Managing Director for the West Coast Amr Ceran.

“Our successful redevelopment and lease-up here, combined with The Circuit’s high-profile location, garnered significant institutional interest and led to a strong sale that will bring benefit to all parties.”

“The conversion of this project from a dated manufacturing facility to the innovative, collaborative space you see today is truly transformational,” added CarVal Investors Managing Director Mark Kunkel. “That bodes well for the future of these two dynamic tenants.”

The Circuit is 100 percent occupied by two national credit tenants: Oscar, the country’s fastest growing health insurance startup, leasing 139,700 square feet, and On Q Financial, a leading online provider of mortgage tools, leasing 44,600 square feet.

Mark Kunkel
Located on 16 acres at 615 S. River Dr. in Tempe, The Circuit represents a $14 million redevelopment completed by EverWest and CarVal between July 2014 and September 2016, transforming the project from a 1982-built semiconductor building into an ultra-modern office concept.

Directed by design and architecture firm Gensler, interior amenities at The Circuit include 17-foot ceilings, 14-foot floor-to-ceiling windows and more than 60 skylights to maximize natural light.

Amr Ceran

The Circuit also features a host of indoor-outdoor amenities such as glass roll-up doors, large landscaped patios and outdoor entertainment areas.

The project’s parking ratio, at 7:1,000, is approximately 40 percent higher than most other office buildings in the market.

EverWest has an active track record of successful creative office renovations spanning major markets across the West.

In addition to The Circuit, these include LINQ in Redondo Beach, California; Junction 23 in Denver, Colorado; The Quad in Scottsdale, Arizona; and UpCycle in Austin.


Stacey Hershauer
1+ 480.600.0195

Christina Graham and Betsy Karmin of Morris, Manning & Martin, Named Real Estate Women of Influence

Christina Graham

 ATLANTA, GA  –  Christina Graham and Betsy Karmin of Morris, Manning & Martin are being cited as Real Estate Women of Influence.

Graham and Karmin will be recognized, along with other honorees, at the inaugural Women of Influence Conference July 10 and 11 in Broomfield, CO. 

 Graham and Karmin were named by Real Estate Forum and

The Women of Influence competition spotlights the achievements of women in commercial real estate across the U.S. The editors say this year’s competition attracted the largest number of entries in the competition’s 36-year history. 

“As always, our seasoned editorial team was seeking the best of the best across the commercial real estate spectrum,” wrote national executive editor Natalie Dolce. The judges based their decisions on factors including: 

Betsy Karmin

* Reputation and impact on their firms and professional community
* Career highlights 
* Ability to achieve goals and display ingenuity in creative thinking and problem solving
* Dedication to furthering the development of their field and the role of women
* Accomplishments and involvement in their businesses company, the real estate industry and broader social community
* Commitment to the highest ethical standards, service, excellence and more

Graham represents developers and owners in all phases of commercial real estate including acquisition, development, financing, disposition and tax-free exchanges.

Based in Atlanta, her clients include some of the largest multifamily companies in the nation. She also chairs MMMPact – the firm’s corporate social responsibility outreach – as well as its Civic Leadership Initiative.

Natalie Dolce
 In addition to serving on the board of Horizons Atlanta, a nonprofit organization that supports K-12 students from underserved local communities, she is also a mentor in the State Bar of Georgia’s Transition into Law Practice Program. 

Karmin concentrates on a broad range of commercial real estate transactions including financing, development, restructuring, acquisitions, sales and leasing.

Based in Washington, D.C., she represents landlords and tenants in office and retail leasing, including ground and multi-floor office leases, as well as lenders and borrowers for complex construction and permanent financing. 

A former president of the Washington chapter of Commercial Real Estate Women (CREW,) she serves on the boards of Woolly Mammoth Theatre Company and Goodwill of Greater Washington. Earlier this year, the firm named her an MMMPact Pro Bono Super Star. 

Media Contact for MMM:

Terri Thornton
 (404) 932-4347

Northeast Region Posts First Year-Over-Year Increase in Buyer Traffic Since April 2018, While U.S. as a Whole Reports Slightly Lower, But More Stable Showing Activity

Daniil Cherkasskiy

CHICAGO, IL – In a welcome sign for the Northeast, which has experienced lower year-over-year buyer traffic since April 2018, the region saw showings increase 1.5 percent in May, according to the latest data from the ShowingTime Showing Index®.

The Northeast was the only region to report higher buyer traffic, however, as the U.S. as a whole was slower, albeit more in line with prior-year showing traffic.

The U.S. declined 2.3 percent, the lowest such decline since August 2018 after 10 consecutive months of slower activity. The West Region continued its trend of slowing traffic, seeing a 10.6 percent drop year over year.

The South and Midwest saw more modest declines in activity at 4.1 percent and 3.4 percent, respectively.
“Year over year, the situation is stabilizing with May 2019 roughly in line with May 2018 and with the Northeast region crossing into positive territory,” said ShowingTime Chief Analytics Officer Daniil Cherkasskiy.

“Activity in the Midwest and South are also in line with last year as we continue to see stronger traffic in the lower price quartiles of the market, with more expensive homes still seeing less traffic compared to the same time last year.”

The ShowingTime Showing Index, the first of its kind in the residential real estate industry, is compiled using data from property showings scheduled across the country on listings using ShowingTime products and services, providing a benchmark to track buyer demand. ShowingTime facilitates more than four million showings each month.
Released monthly, the Showing Index tracks the average number of appointments received on active listings during the month. 

Local MLS indices are also available for select markets and are distributed to MLS and association leadership.

To view the full report, please visit


Brian Sorenson

NAI Realvest Completes Two Office Leases at University Court in East Orlando, FL

Mary Frances West

ORLANDO, FL --- NAI Realvest recently completed two lease agreements for office space totaling 4,888 rentable square feet at University Court , 3361 Rouse Rd. in east Orlando.     

CIC Construction Group USA, LLC., a national firm providing pre-construction, general contracting and design build services signed a long-term lease for 1,380 square feet.   

University Court, 3361 Rouse Road., east Orlando, FL    

 Zenetex, a defense contractor based in Virginia , entered into a lease amendment agreement for 3,508 square feet.  Mary Frances West, CCIM, Vice President at NAI Realvest brokered both leases on behalf of the landlord Interchange-FL Rouse LLC of Daytona Beach.

West said University Court is currently 94 percent occupied with only two vacancies.


Mary Frances West, CCIM, Vice President NAI Realvest,

Patrick Mahoney, President/CEO NAI Realvest,

Beth Payan, Larry Vershel Communications, 407-644-4142
or 407-461-3781;