Crossman & Co. Associate Courtney Kowalchuk Named Real Estate 'Woman of Influence'

ORLANDO - Courtney Kowalchuk, (top right photo)  senior associate at Crossman & Company, the Orlando firm that ranks as one of the largest third-party retail leasing and management firms in the Southeast, was recently named a “Woman of Influence in Florida Real Estate” by Real Estate Florida, a magazine supplement to the national publication Real Estate Forum.

Last year Kowalchuk negotiated over 35 lease agreements valued at more than $15 million.

“Courtney Kowalchuk is one of the brightest young commercial real estate executives in Florida,” said John Crossman, (bottom left photo)  president of Crossman & Company.

“She plays a major role at Crossman & Company and we expect her to play an even bigger role as we expand,” Crossman said.

Kowalchuk is also a new mother. The twin girls, Katie Rayne and Lilly, were born on December 8th, 2009.

Crossman & Company is one of the largest third-party retail leasing and management companies in Florida with over 16 million square feet under leasing and/or management.

Founded in Orlando, Fla. in 1990, Crossman & Company is a full service commercial real estate firm that advises its clients in leasing, management, development and investment sales of retail and office properties and serves clients including Publix Super Markets, Inc., Lake Nona, PREIT, and LaSalle Investment Management.

 Please visit www.crossmanco.com, or call 407-423-5400 for more information.

Contacts:
John Crossman, CCIM, President, Crossman & Company, 407-581-6218, jcrossman@crossmanco.com;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142, lvershelco@aol.com

Myrtle Beach, SC multi-housing complex receives $9M financing arranged by HFF

DALLAS, TX – The Dallas and Miami offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have arranged $9 million in financing for Alta Surf Apartments, a 216-unit multi-housing complex in Myrtle Beach, South Carolina.

HFF directors Brian Carlton (top right photo) and Ike Ojala (middle left photo) worked on behalf of the Miami-based borrower, Tate Capital Real Estate Solutions, LLC, to secure the seven-year, fixed-rate loan through HFF’s Freddie Mac (Federal Home Loan Mortgage Corporation) Program Plus® Seller/Servicer relationship.

 The loan was made under Freddie Mac’s Capital Markets Execution (CME) program and Freddie Mac intends to securitize the loan in the near future. One of Tate Capital’s entities acquired the property all-cash in late 2009.

Completed in 2007, Alta Surf Apartments is 88% occupied and community amenities include a resort-style swimming pool, clubhouse, fitness facility, billiards room, laundry facility, car wash, storage units and detached garages. The property is located at 101 Breakers Drive in Myrtle Beach.

Tate Capital focuses on distressed multi-housing and commercial real estate and has developed, contracted and managed more than $1 billion of commercial real estate assets primarily in Florida, Texas, North and South Carolina, the Northeast United States and the Caribbean.

Contacts:

Brian Carlton, HFF Director, (214) 265-0880, bcarlton@hfflp.com
Ike Ojala, HFF Director HFF, (305) 448-1333, iojala@hfflp.com
Kristen Murphy, Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF arranges sale of historic Lincoln Theatre along Miami Beach’s famed Lincoln Road Mall

MIAMI, FL – The Miami office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged the sale of the historic Lincoln Theatre,(top left photo)  a 38,000-square-foot mixed-use property located on Miami Beach’s famed Lincoln Road Mall.

This transaction is scheduled to close February 1, 2010.

HFF executive managing director Manuel de Zárraga, managing director Danny Finkle (middle left photo)  and associate directors Luis Castillo and Jaret Turkell led the investment sales team on behalf of the seller, New World Symphony. A partnership led by Miami-based Savitar Realty Advisors purchased the property.

Originally built in the 1930’s as a movie house, the Lincoln Theatre is positioned in the protected art-deco architectural district of Miami Beach and is listed as a protected historic site under the National Register of Historic Places.

Located at 541 Lincoln Road, the property is situated on one of the “most unique and successful” pedestrian malls in the United States attracting millions of visitors each year with its art-deco architecture and world-renowned retailers, restaurants and hotels.

The property consists of administrative offices, practice rooms and a 704-seat performance theater that has been occupied by the New World Symphony as their headquarters for the past 20 years.

The New World Symphony will be vacating the entire building upon completion of their new $154 million campus (bottom right rendering), designed by the “world acclaimed” architect Frank Gehry, immediately behind the Lincoln Theatre.

“The Lincoln Theatre is an internationally significant landmark that will start a new chapter in the illustrious history of Lincoln Road, while complementing the new world-class home of the New World Symphony,” stated Finkle.

“We’ve seen the emergence of numerous retailers opening flagship stores on Lincoln Road that have never before had a presence in Florida” added Castillo. “Lincoln Road is in the midst of a renaissance of sorts and this space is positioned at the epicenter.”

Contacts:

Daniel Finkle, HFF Managing Director, (305) 448-1333, dfinkle@hfflp.com
Luis Castillo, HFF Associate Director, (305) 448-1333, lcastillo@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

Wyndham Hotel Group to Introduce Two Hotel Brands to Singapore

 PARSIPPANY, NJ – Wyndham Hotel Group, the world’s largest hotel company with more than 7,000 hotels and 11 brands, today announced that its Ramada® and Days Inn® brands will enter Singapore with the development of two hotels: the 391-room Ramada Singapore at Zhongshan Park and the 405-room Days Hotel Singapore at Zhongshan Park.

Both new-build properties will be developed by HH Properties Pte. Ltd., a joint venture between niche property development group, Hiap Hoe Limited, and SuperBowl Holdings Limited, an owner and manager of leisure and commercial properties.

Construction will begin early this year and the hotels are expected to open in 2014.

To be managed by Wyndham Hotel Group, the properties will be built at Balestier Road, just opposite Sun Yat Sen Nanyang Memorial Hall, a national monument that pays tribute to the father of the 1911 Chinese Revolution.

The Balestier Road area, rich in history, is home to countless shophouses dating back to the 1840s. With a land area of approximately 17,600 square meters, the hotels will flank Zhongshan Park, creating a unique integrated development with a strong heritage connection and old world charm.

“Singapore is one of the most important business and leisure destinations in the Asia Pacific region and we are thrilled to introduce our Ramada and Days Inn brands to the market,” said Tom Monahan,  (middle right photo) Wyndham Hotel Group executive vice president of international development. “We are excited to work with HH Properties as we expand our global footprint.”

The 17-story Ramada Singapore at Zhongshan Park will include a full service restaurant, fitness center, swimming pool, business center and more than 600 square-meters of meeting space.

The 14-story Days Hotel Singapore at Zhongshan Park will feature amenities including a full service restaurant and fitness center. This will be the first Days Inn property to be managed by Wyndham Hotel Group. The company has a managed portfolio of nearly 30 hotels.

“We have spent a considerable amount of time planning the project and are now looking forward to seeing it take shape,” said Teo Ho Beng, managing director of the Hiap Hoe Group. “We selected Wyndham Hotel Group to manage the hotels based on the company’s strong brands and track record and are really excited about the opportunity to work with the Hotel Group.”

CONTACT:
Rob Myers, Communications Coordinator, Wyndham Hotel Group, 22 Sylvan Way, Parsippany, NJ 07054
973-753-6590, rob.myers@wyndhamworldwide.com

The Hampton Inn Morgantown in West Virginia Completes Extensive Hotel Renovations

MORGANTOWN, WV– The Hampton Inn Morgantown hotel (www.morgantown.hamptoninn.com) has unveiled a new look after completing an extensive renovation this past October. The 107-room hotel is surrounded by the area’s natural beauty, ideally situated near West Virginia University, Cheat Lake, and Coopers Rock State Forest.

The multimillion dollar hotel renovation touched all areas of the property including guestrooms, lobby, reception, breakfast area, business center, and fitness center. In addition, the exterior, entrance and landscaping received a facelift.

The brand new “Perfect Mix” lobby offers plenty of seating options for relaxing, dining or working in a comfortable atmosphere with a contemporary design accented in wood tones. The lobby features soft seating, library shelves, two flat-screen TVs, a new communal table with granite countertop, secure high-speed internet access, signature décor and feature lighting.

“We are delighted to share all these new amenities and upgrades with our guests,” said General Manager Carla Smith. “We continue to provide great service, and these renovations demonstrate our ongoing commitment to our guests’ satisfaction.”

Accented in pear green tones and cherry woods, all 107-guestrooms have been revamped with new built-in wall units and furniture, carpeting, artwork, larger bathrooms, functional workspace, generous lighting, and 32” flat-screen TVs, in addition to Hampton’s Cloud Nine bedding with Serta® dream mattress, feather pillows, soft duvet cover and fresh sheeting.

The newly renovated Hampton Inn Morgantown (www.morgantown.hamptoninn.com) is nestled in the mountains of West Virginia right near West Virginia University and Mountaineer Field at Mylan Puskar Stadium.

The Hampton Inn Morgantown is operated by Interstate Hotels & Resorts (www.ihrco.com), the nation’s largest independent hotel management company.

Contact: Bekah Gillespie, Director of Sales, Hampton Inn Morgantown, Phone: (304) 599-1200

Email: bekah.gillespie@ihrco.com