Florida Hospital to Host Open House to Showcase New 3,000-SF Women’s Wellness Center in Deltona, FL

DELTONA, FL - Florida Hospital DeLand will host an open house on March 11 to showcase its new Women’s Wellness Center at 777 Deltona Blvd. in Deltona.

The facility is perfect for a healthcare center, explained John Crossman (bottom left  photo) , president of Crossman & Company, the real estate company that leased the 3,000 square feet of space to Florida Hospital.

“The Women’s Wellness Center is an all-woman OB/GYN practice that offers everything from teen exams to prenatal care to menopausal care,” Crossman said.

“The facility’s convenience, high visibility and security bring a nice complement to the Greater Deltona community,” Crossman said. In addition, the building offered an interior floor plan and accommodations to accommodate patients’ needs for privacy and medical care, Crossman said.

A ribbon cutting ceremony is slated for 5:30 p.m. The facility will be open for tours from 10 a.m. to 5 p.m., Crossman added.

For more information, contact:
John Crossman, CCIM, President, Crossman & Company, 407-581-6218
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Three new tenants signed on by Crossman & Co. opening at the Shops at Stoneybrook Hills in Mount Dora, FL

MOUNT DORA, FL– Crossman & Company, one of the largest property management and leasing firms in the southeast who handles the Shops at Stoneybrook Hills in Mount Dora, leased retail space at the center to three businesses who announced they will be opening this spring at the retail center located at the southeast corner of US 441 and Stoneybrook Hills Parkway in Mount Dora.

John Crossman,  (bottom right photo) CCIM, president of Orlando-based Crossman & Company, said the following each leased 1,200 square feet at the 21,100 square foot Publix-anchored center.

---Wok N Roll, a Chinese take-out restaurant that will seat 15-plus guests, plans to open in early April and will serve from 10 a.m. to 9 p.m. daily.

---Elegant Nails plans to open in early April with hours ranging from 10 a.m. to 9 p.m.

---Robert Blakeley Insurance will be open for business by early April from 9 a.m. to 5 p.m. daily. Their office line is 352-383-4800.

For more information, contact:
Daniel Germano, Associate, Crossman & Company, 407-423-5400 or 407-581-6223;
John Crossman, CCIM, President, Crossman & Company, 407-581-6218
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Melrose-Sovereign Companies Awarded Contracts to Manage Two Eustis, FL Communities

ORLANDO, FL - Melrose-Sovereign Companies, which ranks as one of Florida’s largest community management firms, was recently awarded contracts to manage two residential communities in Eustis.

Jack Hanson, LCAM, co-founder and partner at Melrose-Sovereign Companies, said real estate developer Hanover Capital Partners, LLC of Orlando awarded both contracts. Together, the two communities total 235 home sites, Hanson said.

Ellen Lumpkin,  (top right photo) co-founder and partner at Melrose-Sovereign, said the contracts include Blue Lake Estates, located off S.R. 44 and Blue Water Street in Eustis, and Spring Ridge Estates, located off S.R. 44 and Cypress Grove Drive.

Hanover Capital Partners LLC, with operations in the six-county Central Florida market and Western North Carolina, is a full service real estate development company that specializes in residential, commercial and resort land development.

Headquartered in Orlando, Melrose-Sovereign Companies now has eight offices throughout the state.

For more information,  contact:

Jack B. Hanson, LCAM, Partner/Co-founder, Melrose-Sovereign Companies, 407-228-4181, jhanson@melrose-sovereign.com;
 Ellen G. Lumpkin, LCAM, Partner/Co-founder, Melrose-Sovereign Companies, 407-228-4181, elumpkin@melrose-sovereign.com
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142, Lvershelco@aol.com

Place/BV Student Housing Fund Closes on $58.8 Million Project

ATLANTA, GA  /PRNewswire/ -- Place/BV Student Housing Fund, LLC, a real estate investment fund focused on the acquisition and development of student housing properties nationwide, announces the closing of the construction loan for Tailor Lofts in Chicago, Illinois.

Tailor Lofts will serve the students of more than 20 Chicago area colleges and universities, including the University of Illinois at Chicago, Kent College of Law, Columbia College, Robert Morris University, Roosevelt University, and DePaul University.

The project is scheduled for delivery in August 2010. BVP Managers, LLC, a joint venture between Atlanta, Georgia-based Place Properties, an affiliated group of companies and Chicago-based Blue Vista Capital Management, LLC, serves as the Manager of the Fund.

Situated in the heart of Chicago's West Loop, (shopping area photos top right and bottom left)  one block from Greek Town and only two blocks from the Blue Line CTA, Tailor Lofts is a redevelopment of a historic landmark that is conveniently located near many area schools.

When completed, Tailor Lofts will have 477 beds in 135 fully-furnished units with full kitchens including dishwashers, private bathrooms, and beautiful views of downtown Chicago.

Bob Clark, (bottom right photo)  Executive Vice President, Place Management Group, LLC, said "Downtown Chicago is a vibrant student housing market and Tailor Lofts will fill the void of quality, purpose-built student housing in the market. The project is exceptionally located to serve the metro Chicago colleges and universities."

Blue Vista Capital Management, LLC is a leading national real estate investment management firm with in excess of $550 million in capital under management. Blue Vista has participated in joint ventures representing over $3 billion in total capitalization.

Place Properties, an affiliated group of companies, is one of the country's largest multifamily development and management organizations in the country. Since 1995, Place Properties has developed more than $1.4 billion of student and military housing communities and currently manages more than 21,000 beds.

Contact:  Jessica H. Nix, National Director of Marketing, +1-404-495-7591, jnix@placeproperties.com
Web site: http://www.placeproperties.com/

Hodges Ward Elliott Represents Seller in $95M Sale of Hotel Sofitel Washington, DC to LaSalle Hotel Properties

ATLANTA, GA-– Hodges Ward Elliott, Inc. (HWE) announced  it acted as the seller’s exclusive financial advisor and arranged the $95 million sale of the Sofitel Washington, D.C. Lafayette Square (top right photo)  to LaSalle Hotel Properties.

The sale price equates to approximately $400,000 per room.

Hodges Ward Elliott is the nation's leading hotel brokerage and hotel investment banking firm. Since 1990, HWE has sold or financed more hotels than any other brokerage company in the world. HWE has been ranked the #1 hotel broker in the United States for each of the last three years by independent organizations.

Contact: Timothy K. Southard,CFA, 404-231-6880 direct, 404-964-8450 cell,tsouthard@hwehotels.com

ING Clarion To Brand Miami Hotel As Hyatt Miami At The Blue

MIAMI, FL – ING Clarion Partners announces the branding of The Blue, (centered photo below)  a recently opened 240-room luxury condo hotel in suburban Miami, as “Hyatt Miami at The Blue” with the engagement of Davidson Hotel Company as the hotel’s new operator.

The hotel is owned by ING Clarion Development Ventures II (CDV II), a fund advised by ING Clarion Partners. The property is Davidson’s first project with ING Clarion and its third property licensed under a franchise agreement with Hyatt and managed under the full-service Hyatt brand.

The 17-acre self-contained resort in Doral, Florida, is located among some of the most famous golf courses in the United States, just minutes from Miami International Airport.
“This luxury condo hotel has already become the premier choice for the hundreds of international corporations headquartered in Doral, thanks to superior access to both the airport and world-class golf. Recent events in Miami, like Art Basel and the Super Bowl, have filled our hotel with vacationers from around the world,” says ING Clarion Managing Director and CDV II Portfolio Manager Doug Bowen.

“Hyatt Miami at The Blue benefits from a strategic location for both leisure and business travelers. Its oversized luxury accommodations are perfectly suited to executives, families or golf buddies,” said John Belden,  (top right photo) Davidson’s president and chief executive officer."

“This is an extraordinary resort hotel, a niche where we have strong operating experience,” said Patrick F. Lupsha, (bottom left photo) Davidson’s chief operating officer.

“Through branding and applying our operating procedures and systems, we will raise public awareness of the resort, and we will implement our proven proprietary marketing and management programs that will help attract more guests and provide outstanding service levels when they arrive.”

Davidson will oversee hotel operations, the condo association, as well as the integration with the Hyatt Vacation Club.

Contact:

Cyndi Norwood, Davidson Hotel Company, (901) 821-4155, cnorwood@davidsonhotels.com
Jerry Daly, Chris Daly (media), Daly Gray Public Relations, (703) 435-6293, jerry@dalygray.com

Grubb & Ellis Represents Frontier Logistics in 300,000-SF Warehouse Lease in Pasadena,TX

 HOUSTON, TX – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that Doug Nicholson, executive vice president, SIOR, CRE, Industrial Group, and John Nicholson, senior vice president, SIOR, Industrial Group, represented Frontier Logistics L.P., a third party logistics company, in a 300,000-square-foot lease of warehouse space at 3005 Highway 225 in Pasadena.

Taking occupancy March 1, Frontier Logistics will use the space for packaging and distributing plastic resin.

“This is a rail-served property excellently located at the northwest corner of Beltway 8 and Highway 225, with close proximity to the Port of Houston,” said John Nicholson.

Brian Gammill and Darryl Noon of Transwestern represented the property’s landlord, ING Clarion, in the transaction.
Contact: Julia McCartney, Phone: 714.975.2230, Email: julia.mccartney@grubb-ellis.com

 Healthcare REIT II Declares Distribution Through Second Quarter 2010

SANTA ANA, CA (Mar.  8, 2010) – Grubb & Ellis Healthcare REIT II, Inc. announced today that its board of directors has authorized a daily distribution to stockholders of record as of the close of business on each day of the period commencing on March 1, 2010 and ending on June 30, 2010.

The distributions will be calculated based on 365 days in the calendar year and will be equal to an annualized distribution rate of 6.5 percent, assuming a purchase price of $10.00 per share.

 These distributions will be aggregated and paid in cash monthly in arrears. The distributions declared for each record date in March, April, May and June would be paid in April, May, June and July, respectively.

For more information, please contact  Damon Elder, Phone: 714.975.2659, Email: damon.elder@grubb-ellis.com

 Preferred Stock Dividend of $3 Per Share Announced

SANTA ANA, CA – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced  its board of directors has declared a dividend of $3.00 per share on the company’s 12% Cumulative Participating Perpetual Convertible Preferred Stock to stockholders of record as of March 19, 2010.

 The dividend is for the quarterly period from Jan. 1, 2010 and is payable on March 31, 2010.

Contacts: Janice McDill, Phone: 312.698.6707, Email: janice.mcdill@grubb-ellis.com