LTC Senior Management to Attend the 2011 BMO North American Real Estate Conference

WESTLAKE VILLAGE, CA--(BUSINESS WIRE)--LTC Properties, Inc. (NYSE:LTC) announced today that senior management will attend the 2011 BMO Capital Markets 6th Annual North American Real Estate Conference in Chicago at the Peninsula Hotel (top left photo).

The conference is scheduled for Wednesday, September 21 through Thursday, September 22, 2011.

Presentation materials will be available on the Investor Relations section of LTC Properties’ website (www.LTCProperties.com) on September 21, 2011 and for a limited period following the event.

The Company is a self-administered real estate investment trust that primarily invests in long-term care and other health care related facilities through mortgage loans, facility lease transactions and other investments.

For more information on LTC Properties, Inc., visit the Company’s website at www.LTCProperties.com.

  

Contacts

LTC Properties, Inc.

Wendy L. Simpson, CEO & President

Pam Kessler, EVP & CFO

(805) 981-8655

California Realtor Expo 2011 Opens Next Week in San Jose, CA

 SAN JOSE, CA--(BUSINESS WIRE)--CALIFORNIA REALTOR® EXPO 2011, the state’s largest trade show, opens next week at the San Jose McEnery Convention Center (bottom right photo)in San Jose, Calif.

Running Sept. 20-22, CALIFORNIA REALTOR® EXPO 2011 features more than 70 cutting-edge seminars on topics ranging from social media, to short sales, and the millennial generation. EXPO 2011 will also feature more than 150 exhibit booths and is expected to attract more than 6,500 attendees.

Additionally, the Exhibit Hall for CALIFORNIA REALTOR® EXPO 2011 opens at 5 p.m. on Tuesday, Sept. 20. More than 150 exhibitors will showcase cutting-edge products and services that help REALTORS® streamline and grow their real estate business.

Contacts

CALIFORNIA ASSOCIATION OF REALTORS®

Lotus Lou, (213) 739-8304

lotusl@car.org

Sizzler Reopens in Lake Forest, CA Saturday, Sept. 17; $3 million renovation creates 100 jobs

TEMECULA, CA.--(BUSINESS WIRE)--The first-of-its-kind Sizzler in Orange County will welcome guests Saturday, Sept. 17 after being closed for seven-and-a-half months.

 The $3 million next generation Sizzler at El Toro Road and Raymond Way in Lake Forest was gutted to its studs and expanded to 7,200 square feet to better serve its customers.

“We call this the New Vision or New Generation Sizzler,” said Gary Myers, president of Temecula-based BMW Management, which owns the restaurant. “It is dramatically improved from its predecessor in every way. It represents Sizzler’s future.”

BMW is Sizzler’s largest franchisee with 24 locations across California.

Outside the restaurant, Americana images proudly remind guests of their heritage, while chefs behind the mesquite barbeque grill cook up fresh tri tip all day long. Inside, staff place guests’ orders incorporating a new interactive, yet personal, approach.

The menu includes such specialty items as sweet potato fries, fresh barbeque tri tip platter, tri tip sandwich, French dip, Philly cheese sandwich, fish and chips and fresh fish.

The new Endless Salad Bar is anchored by a demonstration area, where made-from-scratch salads are prepared.

Light and dark contrasting woods collaborate with earthy tones to create a fresh and energetic dining environment. A semi-circular booth, first introduced in Murrieta and Oceanside Sizzlers, will be popular with large families and groups.

During a July job fair, 2,000 people applied for 100 jobs in the Lake Forest Sizzler. The staff has been trained at the New Vision Sizzler in Murrieta, Calif. A rededication ceremony will be held later this month.

The Lake Forest Sizzler will be open from 11 a.m. to 10 p.m. daily. However, the restaurant will remain open later, when necessary. The location is celebrating its reopening with a Steak Fest special, a six-ounce Sizzler steak with Salad Bar for $10.99.

Contacts

BMW Management

Sally Myers, 951-775-0520

sally.myers@bmwmanagement.com

Legendary Architect Zaha Hadid Chosen to Design Miami Beach Parking Garage at Collins Park

MIAMI BEACH, FL--(BUSINESS WIRE)--Architect Zaha Hadid (top right photo) has been chosen by the City of Miami Beach to design its newest parking garage at Collins Park, a neighborhood that’s home to the Miami City Ballet, the Bass Museum, the City Library as well as the Gansevoort, W and Setai luxury hotels.

Collins Park is also just blocks away from the Miami Beach Convention Center (middle left photo), the Frank Gehry-designed New World Center and the popular automobile-free Lincoln Road Mall (middle right photo).

Consistently sought-after, Hadid is the architect of the Aquatic Center for the 2012 London Olympics, the Cincinnati Contemporary Arts Center, and has designed major building structures for BMW and around the world in Barcelona, Abu Dhabi and Cardiff, Wales.

 Hadid, the first woman to win the Pritzker Architecture Prize - the profession's highest honor - joins the growing list of world renowned architects who have gained international attention and are referred to as “Starchitects,” who have designed and overseen construction of new parking garages in the City of Miami Beach.

“This is a great opportunity for the City of Miami Beach to expand its commitment to leading edge architectural design,” says Matti Bower (bottom left photo), Mayor of the City of Miami Beach.

 “Even our parking garages are more than a group of parking spaces. Some have become destinations within themselves and have attained individual iconic status. Every building can be a work of art. We are pleased to work with Ms. Hadid and we are delighted with her contemporary and brilliant design for our newest parking garage.”

Miami Beach’s parking garages have received world-wide media attention and have become tourist attractions themselves.

They include the Frank-Gehry designed, city-owned, Pennyslvania Avenue Garage; Herzog de Meuron's minimalist, edgy space at 1111 Lincoln Road; Arquitectonica's Ballet Valet Garage at 7th Street and Collins Avenue as well as their newest design in Sunset Harbour, which is currently under construction;

 Enrique Norton’s newly designed parking garage at 16th Street and Drexel Avenue; and Perkins and Will’s recent City Center Garage Project at 18th Street and Meridian Avenue.

Hadid's new design is expected to continue to raise the bar for garages worldwide. The City of Miami Beach is currently working with Ms. Hadid to determine commencement dates for the new garage’s design plans and construction.

Visit MiamiBeachGuest.com or MiamiBeachINCARD.com for more information or contact Grisette Roque-Marcos at Groquemarcos@miamibeachvca.com.

Contacts

Hill & Knowlton SAMCOR

Ashley Menear, 305-443-5454

amenear@hillandknowlton.com

Marcus & Millichap Sells Sunnyside Apartments in Miami, FL

MIAMI, FL, Sept. 16, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of the Sunnyside Apartments (top left photo), a 28-unit multi-family property located in Miami, Fla, according to Gregory Matus, Vice President/Regional Manager of the firm’s Ft. Lauderdale office.

The asset commanded a sales price of $1,300,000 representing $46,429 per unit.

Vice President Investments Felipe J. Echarte, Jr (lower right photo). and Senior Associate Joseph P. Thomas, in the firm’s Ft. Lauderdale office, exclusively represented the seller, a private investor from Miami, Fla.  The buyer, a limited liability company, was also secured by Echarte and Thomas.

Sunnyside Apartments is a 28-unit multi-family property located on NE 6th Avenue, just north of 150th Street in Miami, Florida. Sunnyside is situated in a densely populated area of unincorporated Miami-Dade County between North Miami and North Miami Beach.  

The property offers an excellent unit mix comprised of 14 one-bedroom/one-bath apartments on the first floor and 14 two-bedroom/one-and-a-half bath townhouse apartments on the second and third floors.

Press Contact: Gregory Matus, Regional Manager / Vice President, Ft. Lauderdale, (954) 245-3400

www.MarcusMillichap.com

HFF arranges $47.5 million refinancing of Sheraton Gateway Hotel Los Angeles

 SAN DIEGO, CA – HFF announced today that it has arranged a $47.5 million refinancing for The Sheraton Gateway Hotel Los Angeles (top left photo), an 802-room hotel adjacent to Los Angeles International Airport.

HFF worked on behalf of the borrower, SheLAX Hotel, LLC, to secure the refinancing through a German bank.  The Managing Member of SheLAX Hotel, LLC is an institutional investment fund sub advised by Long Wharf Real Estate Partners LLC.

 Long Wharf Real Estate Partners LLC is a Boston-based private equity real estate investment manager formed in July 2011 following the spin-out of the Fidelity Real Estate Group from Fidelity Investments.

The Sheraton Gateway Hotel Los Angeles is situated on 5.7 acres at 6101 West Century Boulevard approximately 1/8th of a mile from the entrance to LAX. 

Renovated between 2003-2007, the hotel features 48,000 square feet of function space, 38 meeting rooms, an 11,400-square-foot grand ballroom and two on-site restaurants, Paparazzi and Brasserie Restaurant. 

Additional amenities include a business center, fitness center, outdoor pool, Starbucks and complimentary shuttle service to and from LAX. 

The HFF team representing the borrower was led by senior managing director Tim Wright (bottom left photo)and associate director Zack Holderman. 

Contacts: 

Timothy Wright, HFF Senior Managing Director, (858) 552-7690  

twright@hfflp.com  

Kristen Murphy, HFF Associate Director, Marketing,  (713) 852-3500

krmurphy@hfflp.com

                  

HFF closes $12 million sale of DoubleTree Wilmington in downtown Wilmington, Delaware

TAMPA, FL – HFF announced today that it has closed the sale of the DoubleTree Wilmington (top left photo), a 217-room, full-service hotel in downtown Wilmington, Delaware. 

HFF marketed the property exclusively on behalf of the seller, Credit Union Liquidity Services. 

 A joint venture between  Driftwood Hospitality Management LLC and AGRE U.S. Real Estate Fund, L.P., a real estate investment fund managed and advised by an affiliate of Apollo Global Management, LLC, purchased the hotel for $12 million.

The DoubleTree Wilmington is located at 700 North King Street in Wilmington’s legal and financial district close to Interstate 95 and within walking distance to the Wilmington Amtrak Station.

 Renovated in 2006, hotel amenities include 20,000 square feet of meeting and banquet space, an indoor pool, fitness facility, business center, café and lounge. 

The DoubleTree Wilmington also features The Legal Center, a 3,200-square-foot facility with a conference room, private offices, a kitchen and several workstations with secure IT infrastructure for use by visiting counsels.

The HFF team representing the seller included senior managing director Dan Peek (top right photo) and directors John Bourret (lower left photo) and KC Patel (lower right photo).

Based in North Palm Beach, Florida, Driftwood Hospitality Management, LLC is a leader in providing solutions-based services for the domestic and international hotel industry. 

Boasting extensive management experience and relationships with most major hotel franchising companies, Driftwood covers the full spectrum of lodging business needs, from mid-size extended-stay to limited-service properties, boutique hotels and full-service resorts featuring spas, restaurants and convention centers. 

Currently, Driftwood’s focus is on strategic acquisition, development, third-party management and receivership.  Driftwood has additional offices in Costa Rica, Scottsdale, Arizona and Miami, Florida.  In the past three years alone, the company and its hotels have received more than 20 industry awards.

 For more information, visit www.DriftwoodHospitality.com.

Contacts:

Daniel Peek, HFF Senior Managing Director, (813) 870-1001, dpeek@hfflp.com

John Bourret, HFF Director, (214) 265-0880,

jbourret@hfflp.com                                                                                             

Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,  

krmurphy@hfflp.com

Pennsylvania Shopping Center Sells for $10 Million

  

MARS, PA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has closed the sale of a 49,060-square foot grocery-anchored center (top left photo) in Mars. The sales price of $10,080,000 represents a price of $205 per square foot.

Steven J. Siegel (middle right photo), a vice president investments in the Manhattan office of Marcus & Millichap, exclusively represented the seller.

Erin Patton, a senior associate in the firm’s Columbus office, Scott Wiles, a senior associate in Cleveland, and Craig Fuller, a retail investment specialist also based in Cleveland, represented the buyer.

 Spencer Yablon (lower left photo), vice president and regional manager of Marcus & Millichap’s Philadelphia office, also provided representation.

“The new owner has acquired an excellent long-term investment,” says Siegel. “This shopping center will continue to thrive because of the wealthy demographic in the area, its proximity to major freeways and the vibrant mix of quality tenants,” says Siegel. 

Located at 300-920 Adams Ridge Rd., the Shoppes at Adams Ridge includes a 41,837-square foot building and two out parcels: a 3,723-square foot Dairy Queen and 3,500-square foot Citizens Bank.

Built in 2008, the center is anchored by McGinnis Sisters, a specialty grocery store, and shadow-anchored by Walgreens. The property draws demand from its mix of national and regional tenants, including Great Clips, Pizza Hut, Stonepepper’s Grill and Verizon Wireless.

 Traffic counts at the site are in excess of 20,000 cars per day on State Route 228 and the average household income in the area is $130,000.

Press Contact: Stacey Corso, Communications Department, (925) 953-1716

Patriot Golf Day at Six Orlando Golf Courses Raises More Than $3,100 for Folds of Honor Foundation Scholarships

CELEBRATION, FL – Golfers at six Orlando area courses raised more than $3,100 for the Folds of Honor Foundation during Patriot Golf Day recently.

 Gene Garrote, president of Celebration Golf Management, Inc., said Folds of Honor Foundation provides post-secondary educational scholarships for children and spouses of military service men and women killed or disabled while serving in the U.S. Military.

Golfers at Celebration Golf Club at Celebration, The Golden Bear Club in Windermere, Kings Ridge Golf Club and Legends Golf and Country Club and in Clermont, Stoneybrook West in Winter Garden and Eagle Creek Golf Club in southeast Orlando contributed to the scholarship drive, Garrote said.

 “To date more than 2,000 scholarships have been awarded by the Folds of Honor Foundation,” Garrote said.

For media information,  contact:

Gene Garrote, President, Celebration Golf Management, 407-566-1045

Dorothy Benson, Sales/Marketing Manager, Celebration Golf Management, 407-566-1045 ext 4613; dbenson@celebrationgolf.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

Mercantile Capital Corp. Announces Lowest Rate in History for Small Business Administration’s 504 Loan Program

ALTAMONTE SPRINGS, FL. --- Mercantile Capital Corporation, a wholly-owned subsidiary of Old Florida National Bank, recently announced that the 20-year effective interest rate for the U.S. Small Business Administration (SBA) 504 Loan Program has fallen to a new all-time low of 4.69 percent.

SBA 504 loans already offer below-market, long-term, fixed interest rates with as little as 10 percent down.

Now, small business owners have the opportunity to borrow money to grow their businesses at the lowest interest rates in history. Many believe the new record low interest rate will serve as an incentive that will spur small business owners to invest in their businesses by purchasing buildings and equipment.

  “There may never be a better time than now for small business owners to buy already discounted commercial property, while financing it with the lowest interest rates on record," said CEO of Mercantile Capital Corporation Chris Hurn.

 Mercantile Capital Corporation specializes in providing SBA 504 loans for small business owners nationwide who want to acquire or develop their own facilities.

 A former member of the Inc. 500 list, Mercantile Capital Corporation (MCC) has been called the “Fastest Growing Commercial Lender in America,” the “most unique and entrepreneurial bankers around,” and the “fun bankers.” From its start in late 2002, MCC has focused on providing SBA 504 loans for small business owners to acquire or enhance their own facilities.

 The company has been named a Small Business Financial Services Champion by the U.S. Small Business Administration twice in the past four years.

 For more information on MCC and 504 loans call (866) 622-4504 (toll free) or visit  www.504Experts.com  or  www.504Blog.com.

For more information about this press release,  contact:

Geof Longstaff, Chairman, Mercantile Capital Corp, 407-786-5040 GLongstaff@Mercantilecc.com

Chris Hurn, CEO, Mercantile Capital Corp, 407-786-5040 ChrisHurn@MercantileCC.com   

Beth Payan, Larry Vershel Communications 407-644-4142 Lvershelco@aol.com

Malaysian Group Proposes 2 Condo Towers For Downtown Miami

MIAMI, FL -- Malaysia-based Genting Group, one of the world’s largest casino operators, plans to develop two new, highrise condo towers with 1,000 units in Greater Downtown Miami, according to a new report from CondoVultures.com.

The condo towers – part of a proposed $3 billion mixed-use resort and entertainment complex on the current Miami Herald headquarters site fronting Biscayne Bay – could be completed as soon as 2014, according to the Miami Herald.

Plans for the proposed 10-million-square-foot project -- located on Biscayne Boulevard fronting the Adrienne Arsht Center for the Performing Arts (top right photo)-- call for a pair of condo skyscrapers and four hotel towers that share a massive pool deck on the eighth floor of the complex, according to a statement from the Genting Group.

“The initial plans – which still require governmental approval – for the proposed Resorts World Miami project are extremely ambitious,” said Peter Zalewski, a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

 “For context, think of the design of Greater Downtown Miami's largest new project ICON Brickell (lower left photo) – three towers sharing a massive amenities deck – and double it for the Resorts World Miami project.

"On a unit-count basis, the ICON Brickell with nearly 1,800 units would be one-third of the size of the 1,000 condo units and 5,200-hotel rooms planned for Resorts World Miami.”

The proposed Resorts World Miami project - for which the land has already been acquired for at least $236 million - calls for a casino component combined with retail, restaurants, and convention center space. 

 

Peter Zalewski of Condo Vultures® can be reached at 800-750-0517 or by email at peter@condovultures.com.

David Wells of Marcus & Millichap Represents International Banking Institution in $7.1 Million All-Cash Acquisition of U.S. Commercial Real Estate

  

CHICAGO, IL, Sept.16, 2011 – David Wells (top right photo), a Senior Associate in the Miami office of Marcus & Millichap’s Real Estate Investment Services National Retail Group, the nation’s largest real estate investment services firm, has successfully represented one of the largest foreign banking institutions in the world in a $7.1 million all cash transactions of a Chase Bank located in downtown Chicago.

The purchase price equates to a 6.5% cap rate.

 Bruce Harris, Vice President of Investments, of the firm’s Chicago office exclusively represented the seller.

The acquisition is representative of a trend in foreign capital flooding the shores of the US in what is perceived as an opportune time for reinvestment in US real estate.

 “The demand from my foreign clients, predominantly institutions as well as private individuals, from South America has drastically increased over the past six months,” says Wells.

“We have spent a tremendous amount of time underwriting and analyzing assets for the past year with our foreign clients. Now they have just begun to take the next step and execute their foreign investment strategy as they have seen the US market stabilize.

 “They view the US market as poised for a turnaround and an excellent hedge against overheated foreign commercial real estate market conditions.”

 The asset acquired is a fee simple 8,500 square foot Chase Bank on the ground floor of a 35 story condo tower with vertical separation located in the heart of downtown Chicago on the corner of Dearborn and State Street.

 “Absolutely irreplaceable real estate with an S&P A rated credit tenant with significant term, options and increases in the lease,” says Wells.

 “Our firm’s national platform and impeccable track record of performance in assisting our client’s in achieving their investment goals has awarded us with the prestigious assignment of working with such high level foreign clients.

"We are actively working diligently with them to acquire an additional $100 - $200 million in US commercial real estate over the next twelve months.”

 .

For additional information contact David Wells: 305-498-6095

www.MarcusMillichap.com