One Million U.S. Properties with Foreclosure Filings in First Half of 2012, According to RealtyTract

  

IRVINE, CA – July 12, 2012 – RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its Midyear 2012 Foreclosure Market Report, which shows a total of 1,045,801 U.S. properties with foreclosure filings — default notices, auction sale notices and bank repossessions — in the first half of 2012, a 2 percent increase from the previous six months but still down 11 percent from the first half of 2011.

The report also shows that 0.79 percent of all U.S. housing units (one in 126) had at least one foreclosure filing in the first six months of the year.

For a complete copy of the company’s news release and statistics, please contact:

Christine Stricker

949.502.8300, ext. 268

christine.stricker@realtytrac.com

Michelle Schneider

949.502.8300, ext. 139

michelle.schneider@realtytrac.com

Order Custom Data:

Data Sales Department

800.913.0439

datasales@realtytrac.com

Hotel Lenders and Investors at Ease With Direction of Investment Market

ATLANTA, GA – Lower interest rates, revenues that are outpacing expense growth and below average supply additions are combining to give lenders and investors a greater comfort level with the U.S. lodging investment market, according to the 2012 edition of Hospitality Investment Survey, published by PKF Hospitality Research, LLC (PKF-HR), an affiliate of PKF Consulting USA, LLC (PKFC).

“Double-digit profit growth, coupled with the low cost of capital and limited supply growth, make hotel real estate an attractive option to commercial real estate investors,” said Scott Smith MAI, vice president in the Atlanta office of PKFC. 

“Investors acknowledge the existence of all the economic uncertainties, but the industry fundamentals are strong enough to overcome these concerns.”

Copies of the 2012 Hospitality Investment Survey are available for purchase in PKFC’s online store at www.pkfc.com/store, or by calling (855) 223-1200.

 For a complete copy of the company’s news release, please contact:

Scott Smith MAI                                                       

PKF Consulting USA, LLC                                       

Tel: 404 842 1150, ext 233                                    

Email: scott.smith@pkfc.com   

http://www.pkfc.com/                                                          

Chris Daly

Daly Gray Public Relations

Tel: 703 435 6293

Email: chris@dalygray.com

 www.dalygray.com

NAI Realvest negotiates sale of industrial condominium at Anchor Road Commerce Center in Casselberry, FL

ORLANDO, FL. — NAI Realvest recently negotiated the sale of an industrial condominium in Anchor Road Commerce Center (top left photo) at 206 Reece Way in Casselberry.

 Michael Heidrich, a principal at NAI Realvest, negotiated the sale representing the seller, Anchor Road Commerce Center, LLC of Maitland. 

 Cross Bridge LLC purchased unit 206 with 1,200 square feet in shell condition for $72,000.00.   The buyer will handle interior buildout of the space.

Brian Smith of Smith McIntosh Properties, Inc. represented the buyer.

For more information, contact: 

Michael Heidrich, Principal NAI Realvest, 407-875-9989, mheidrich@realvest.com  

Patrick Mahoney, President, NAI Realvest, 407-875-9989 pmahoney@realvest.com

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142  

DoubleTree by Hilton and Rim Hospitality Unveil Multi-Million Dollar Hotel in Downtown Los Angeles

McLEAN, Va., and LOS ANGELES, CA  – Hilton Worldwide and Rim Hospitality announced today the opening of DoubleTree by Hilton Los Angeles Downtown (top left photo), the latest Los Angeles-area property in the Hilton Worldwide portfolio.

With the majority of its multimillion-dollar renovation near completion, the former Kyoto Grand Hotel and Gardens is now the DoubleTree by Hilton Los Angeles Downtown as it debuts its refreshed Japanese-inspired rooftop garden, the hotel’s signature outdoor event and meeting space.

Rob Palleschi (lower right photo), global head, DoubleTree by Hilton, said, “DoubleTree by Hilton continues to introduce our loyal business and leisure customers to a fast-growing portfolio of city center hotel locations, with the opening of the newly redesigned DoubleTree by Hilton Downtown Los Angeles.

“This newest DoubleTree by Hilton hotel location extends our commitment to welcoming the world’s travelers in key destinations and providing a comfortable, amenity-rich hotel experience and exceptional service for visitors to work and play in the heart of the City of Angels.”

 For a complete copy of the company’s news release, please contact:

Maggie Giddens

Director, Global Brand Public Relations

DoubleTree by Hilton

+1 703 883 5346

Maggie.Giddens@Hilton.com

Julie Y. Gallagher / Laurie Calaunan

for DoubleTree by Hilton Los Angeles Downtown

+1 202 536-4903 / +1 213 253-9213

j.gallagher@mboxcommunications.com/

laurie.calaunan@hilton.com

Colliers International Completes $2.6 Million Sale of an Industrial Building in Paramount, CA to Boot Distributor

 Paramount, CA, July 12, 2012 –– Colliers International, the third largest global real estate services organization, has completed the $2.6 million sale of a 28,600-square-foot multi-tenant industrial building located at 15700-15714 Garfield Ave. and 7515-7524 Madison Street in Paramount, Calif.

 Chris Sheehan (top right photo) and Adam Deierling (lower left photo)of Colliers International represented the seller, a private trust from Marietta, GA. The buyer was ABR Properties who was represented by Jay Martinez of KW Commercial. The buyer plans to use the facility for wholesale sales and distribution of boots.

 Built in 1965, the one-story property includes six units which have historically been occupied by individual companies. The new owner will occupy the majority of the building while renting out a few units for immediate income. It will also have the opportunity to expand into more space in the future.

 “We took a multi-tenant project and were able to find the right owner/user in a very specialized corridor in Paramount that is known for the boot and hat trade,” said Sheehan. The highly visible property along Garfield Avenue was exactly what the buyer was looking for, and we were able to garner a strong sale price that could not have been achieved if sold to an investor.” 

The City of Paramount is home to a variety of manufacturers and tool wholesalers, in addition to the previously mentioned boot and hat trade.  Strategically bound on four sides by the 91, 710, 605 and 105 freeways, this market is highly accessible to the ports and is centrally located to the Southern California market.

Contact:

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

Ansley Golf Club in Georgia Selects Cassidy Turley for Facility Management Assignment

  

 ATLANTA, GA – [July12, 2012] Cassidy Turley, a leadingcommercial real estate services provider in the U.S., said today its Atlanta office has been selected by the Ansley Golf Club (top left photo) to provide facility maintenance for the club’s historic site in Midtown Atlanta and its Settindown Creek course in Roswell, Ga.

The 100-year-old Ansley Golf Club in Midtown features a nine-hole course consistently ranked among the top five courses nationally in Sports Illustrated surveys.

The site also contains an Olympic-sized swimming pool, clay tennis courts, first-rate dining facilities and a fitness center. The 27-hole Settindown Creek site features a 27-hole course and a fitness center.

Joe Adams, chief operating engineer in Cassidy Turley’s Atlanta office, will oversee this facility-management assignment.

“We are honored that the Ansley Golf Club has chosen Cassidy Turley to maintain these two top-notch facilities,” said Holly Hughes (middle right photo), Senior Managing Director of property management for Cassidy Turley in Atlanta.

“This assignment is a testament to the esteem with which Cassidy Turley is held in the Atlanta marketplace. We look forward to adding tremendous value to the Ansley Golf Club’s operations.”

Cassidy Turley’s property and facility management portfolio in metro Atlanta contains 20 million square feet. 

Public Relations Contacts:

Tony Wilbert

Wilbert News Strategies

404-965-5022

twilbert@wnspr.com

Sarah Whitley

Wilbert News Strategies

1720 Peachtree St, Suite 1040

Atlanta, GA 30309

swhitley@wnspr.com

www.wnspr.com

Emerson International closes on $20 million Mortgage Loan from ING

Altamonte Springs, FL. --- Emerson International, Inc. which owns and develops office parks, luxury condominiums and golf course communities in Central Florida, recently closed on a new $20 million mortgage agreement with a U.S lender subsidiary of parent company ING based in the Netherlands.

Eric Emerson (top right photo), vice president and general manager of Emerson International, said the new 20-year loan – with a 4.65 percent interest rate – enables Emerson International to retire existing mortgages on its southwest Orlando Major Plaza buildings I and II (lower left photo),  Altamonte Lakeside Plaza Office Park, Louisiana Office Park in Winter Park and University Research Park I in southeast Orlando, totaling approximately 350,000 square feet of Class B office space.

Don Jennewein and Nathan Lynch of CBRE brokered the mortgage agreement, Emerson said.

Shutts & Bowen represented borrowers Emerson International Inc. and Emerson Investments International, Inc.

“Mortgage interest rates today are at record lows and it makes excellent sense to refinance quality real estate assets,” Emerson said.

“The savings to us is significant and represents a substantial increase in our operating income,” he said.

For more information, contact

Eric J. Emerson, Vice President and General Manager Emerson International, Inc. 407-834-9560; ejemerson@emerson-us.com;

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

About Emerson International

Emerson International is a wholly owned subsidiary of The Emerson Group, the global corporation that is one of the largest privately-owned property development companies.

Pollack Shores Acquires Orlando, FL Apartments; Firm Adds Heather Glen to Ownership Portfolio

Atlanta, GA and Orlando, FL (July 12, 2012) – Pollack Shores Real Estate Group has acquired Heather Glen, a 396-unit apartment community in Orlando, Fl. The $23.6 million transaction closed July 2. The firm also plans to spend an additional $1.5 million to renovate and upgrade the pool area, clubhouse, fitness center, landscaping and other amenities.

The community, which boasts a desirable 95% occupancy rate, is located on University Boulevard less than two miles from the University of Central Florida (UCF). UCF is one the largest and fastest growing universities in the nation.

“The Orlando rental market continues to improve making this property a great addition to our rapidly expanding Central Florida portfolio,” said Pollack Shores Vice President of Acquisitions Graham Carpenter (lower left photo).

 “Heather Glen is in a great location. Our planned renovations will make the property even more popular with the students at UCF as well young professionals working at many of the nearby office parks.”

The firm’s combined acquisitions and developments in the Southeast over the past two years now total almost $350 million. Pollack Shores’ other Orlando properties include The Preserve at Econ River, which it acquired last year. It is also developing the brand new SteelHouse Apartments in the heart of Downtown.

Heather Glen is located at 10801 Heather Ridge Circle in Orlando. Matrix Residential, a subsidiary of Pollack Shores, will manage the community.

Pollack Shores Real Estate Group (www.pollackshores.com) focuses on the development, acquisition, management, finance and investment of high quality, community-enhancing multifamily, residential and mixed-use real estate projects. It is committed to the highest standards in all facets of its business.

Contact:

Terri Thornton

 404-932-4347 

www.TerriThornton.com

 http://www.pollackshores.com/

American Healthcare Investors Facilitates More Than $100 Million in Acquisitions For Griffin-American Healthcare REIT II

 NEWPORT BEACH, CA – American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT II, Inc., announced today the acquisition of 14 medical office buildings in Florida, Texas, New Mexico, Hawaii, Indiana, Alabama, Illinois, Colorado and South Carolina by the REIT for an aggregate purchase price of $106.7 million.

 The acquisitions were completed between May 22, 2012 and July 11, 2012.  Currently, the portfolio of Griffin-American Healthcare REIT II totals 90 buildings valued at approximately $822 million, based on purchase price.

 “We continue to identify attractive properties for the growing portfolio of Griffin-American Healthcare REIT II, which now owns properties in 25 states,” said Danny Prosky (top right photo), a principal of American Healthcare Investors and president and chief operating officer of the REIT.

 “Most of these assets are either on the campus of, in close proximity to, or strongly affiliated with a major healthcare system, a characteristic we value when evaluating a potential acquisition on behalf of the REIT.”

 For a complete copy of the company’s news release, please contact:

Damon Elder

Senior VP, Marketing & Communications

American Healthcare Investors

4000 MacArthur Boulevard

West Tower, Suite 200

Newport Beach, CA 92660

(949) 270-9207 direct

(714) 356-1460 cell

delder@ahinvestors.com

www.AmericanHealthcareInvestors.com

www.GriffinCapital.com

HFF arranges $41.15 million in construction financing and joint venture equity for Middlesex Logistic Center in Edison, NJ

  

FLORHAM PARK, NJ – HFF announced today that it has arranged $41.15 million in construction financing and joint venture equity for the development of Middlesex Logistic Center (top left rendering), a 570,100-square-foot distribution center in Edison, New Jersey.

HFF worked exclusively on behalf of the sponsor, JG Petrucci Co., Inc., to structure joint venture equity from institutional investors advised by J.P. Morgan Asset Management.  In addition, on behalf of the partnership, HFF secured the construction loan through M&T Bank. 

Middlesex Logistic Center will be a 570,100-square-foot state-of-the-art LEED certified warehouse and distribution center located adjacent to Raritan Center and Heller Industrial Park near Exit 10 of the New Jersey Turnpike.  Due for completion in 2013, the property will feature 36-foot ceiling heights, 108 loading doors, 140-foot truck courts and parking for 149 trailers. 

The HFF team representing the borrower was led by senior managing director Jon Mikula (lower right photo) and managing director Michael Nachamkin.

Contacts:                

                            

 JON MIKULA                                           

 HFF Senior Managing Director                 

(973) 549-2000                                           

jmikula@hfflp.com  

OLIVIA HENNESSEY

HFF Associate, Marketing

(713) 852-3500

ohennessey@hfflp.com

CBRE Orlando Closes $250 Million in Apartment Sales (Jan - June 2012)

ORLANDO, FL --CBRE has retained its position as the top multi-housing broker in Orlando

through the first half of 2012 with more than $248 million in local sales.

The team has closed a market-leading 20 transactions consisting of 4,267 units from January to July 2 to earn over 70% market share locally on closed deals.

 Assets sold range from newer properties like the Vista at Lost Lake (built 2007) to older, value add opportunities like Heather Glen and Island Club.

Shelton Granade and Luke Wickham of CBRE’s Orlando office exclusively represented the sellers in all transactions.

CBRE’s Central Florida Multi-Housing Group projects strong buyer interest throughout the rest of 2012.

For further information, please ontact:

Central Florida Multi-Housing Group of CBRE.

Shelton Granade

Executive Vice President

T 407.839.3103

shelton.granade@cbre.com

Luke Wickham

Director of Operations

T 407.839.3130

luke.wickham@cbre.com

Voit Real Estate Services Directs $4.2 Million Sale of Upgraded Newport Beach, CA Office Building

 Orange County, CA (July 12, 2012) – Tony Gleason of Voit Real Estate Services’ Irvine office has successfully completed the $4.2 million sale of an 18,066 square-foot office building (top left photo) located at 2350 SE Bristol St. in Newport Beach, Calif. on behalf of the seller.

 The building, currently occupied by Walldesign, a construction company, is unique in Orange County due to its extensive, high-end tenant improvements, building finishes and freeway visibility, according to Gleason, a Senior Vice President in Voit’s Irvine office.

Gleason represented the seller, Ru Investments, a private, Orange County-based investment firm, in the transaction.  The buyer, Bristol Street Partners, was represented by Jim Schoolfield and Taylor Wood of Cresa Partners in Newport Beach.

“The office sales market in Orange County is becoming more active and competitive, and this transaction is demonstrative of this increased activity,” explained Gleason.  “We were successful in generating a number of viable offers on the property, which speaks to both the quality of the asset, and the growing demand for high-quality, well-located office properties in Orange County.”

Highly upgraded office properties that are for sale in Newport Beach are especially scarce, according to Gleason, making this building a market standout.  The property, which is visible from the freeway, is located off the 73 freeway at Birch Street.

Voit also directed Ru Investments’ initial acquisition of the building in 2003.

  Contact:

Jenn Quader/ Judith Brower

Brower, Miller & Cole

(949) 955-7940

JQuader@browermillercole.com

Marcus & Millichap Capital Corp. Arranges $5.25 Million Multifamily Loan in Torrance, CA

 TORRANCE, CA – Marcus & Millichap Capital Corporation (MMCC) has arranged a $5.25 million loan for a 64-unit multifamily mid-rise building in the city of Torrance.

Michael Derk (lower right photo), a vice president capital markets in MMCC’s Long Beach office, arranged the loan.

“This was an off-market transaction in a low-volume trade area,” says Derk. “It’s a trend we are seeing more often in the market.”

Built in 1961, the apartment complex faced challenges, such as a historically high vacancy rate and significant deferred maintenance issues. Despite these challenges, Derk was able to provide the client the most competitive financing available in today’s market.

“We were able to achieve an above-market LTV ratio of 77 percent on a five-year fixed loan at the low interest rate of 3.5 percent,” says Derk. “We were also able to close the transaction in less than 60 days.”

Press Contact:

Stacey Corso

Marcus & Millichap Capital Corp.

(925) 953-1716

Davidson Hotels & Resorts Takes Over Management of Hilton Alexandria Old Town in D.C. Metro Area

  

 WASHINGTON, DC, June 12, 2012—Davidson Hotels & Resorts, one of the nation’s largest independent hotel management companies, today announced that it has been named manager of the 246-room Hilton Alexandria Old Town (top left photo). 

“The Washington, D.C.-metro area is one of the most vibrant hotel markets in the country,” said Steve Margol (middle right photo), Davidson’s chief investment officer. 

“The Hilton Alexandria Old Town is our ninth hotel overall in the area and our second in Alexandria. It also marks the second D.C.-area contract we’ve signed in the last month.  Our growing portfolio in this important market provides our owners with exceptional economies of scale.”  

 

Located at 1767 King Street, the 246-room hotel also includes 13 executive suites, one presidential suite with sweeping views of Old Town and two deluxe executive suites.  Hotel amenities include more than 7,600 square feet of meeting and banquet space, the contemporary upscale dining of Seagar’s Restaurant & Lounge, a full-service Starbucks, heated indoor pool, fitness center and 24-hour business center.

The hotel is minutes from downtown Washington, D.C., and just two Metro stops from Reagan National Airport.  Alexandria is home to more than 1,000 national associations, including the American Diabetes Association and the Society for Training and Development, as well as the United States District Court, the Patent and Trademark Office headquarters and myriad consultants and contractors to the Federal Government. 

Contact:

Cyndi Norwood                                                         

Davidson Hotels & Resorts                                       

(678) 349-0909                                                         

cnorwood@davidsonhotels.com                                

 Chris Daly (media)

Daly Gray Public Relations

 (703) 435-6293

chris@dalygray.com

Patrick Daly

Account Supervisor

Daly Gray, Inc.

patrick@dalygray.com

Office:  (703) 435-6293

Cell:  (703) 300-8289

www.davidsonhotels.com

.

Bull Realty Brokers Sale of Bed and Breakfast in Seaside, FL

 ATLANTA, GA (July 12, 2012) – Bull Realty has brokered the $1.575 million sale of Seaside Ave Bed and Breakfast, a nine-bedroom, nine-bathroom facility inside Seaside, a prestigious master planned community on Florida’s Gulf Coast.

Rob Whitmire (top right photo), Partner and Senior Vice President of Special Asset Services for Bull Realty, and Cindy Cole (lower left photo) of Destin, Fla.-based Cindy Cole Fine Homes represented the seller, a super regional bank.

The purchaser, 38 Seaside LLC, is a group of investors headquartered in Texas. The purchaser is considering several options, including plans to convert the property into a single-family home at the end of the summer. The renovation is expected to cost more than $300,000.

“The client is extremely pleased by this transaction,” Whitmire said. “Since the bed and breakfast’s revenues had declined in recent years, the seller was ready to move on and the purchaser has the resources and capital available to improve the asset. This transaction is another example of Bull Realty’s expertise and skill in moving a distressed asset.”

Contact

Stephen Ursery

Wilbert News Strategies LLC

404-965-5026

sursery@wnspr.com

Hendricks & Partners Negotiates Sale of Mallards of Brandywine Apartments in DeLand, FL for $7.75 Million

 DeLand, FL --  Hendricks & Partners, one of the nation’s largest and most active multi-family investment banking and research companies, recently negotiated the sale of the Mallards of Brandywine, a 168-unit apartment property located in DeLand, for $7.75 million.

Cole Whitaker (top right photo), partner and director of the Southeast Division of Hendricks & Partners and associate partner Hal Warren (lower left photo) in Orlando negotiated the sale representing the seller, CFLP Mallards, LLC.

The Mallards of Brandywine built in 1985 and renovated in 2006 has a total of 136,600 square feet of rentable living space with one and two bedroom apartments.

The buyer was a private investment group.

For more information, contact:

Cole Whitaker, Southeast Partner, Hendricks & Partners, 407-218-8880, cwhitaker@hpapts.com;  

Hal Warren, Associate Partner, Hendricks & Partners, 407-218-8881, hwarren@hpapts.com; 

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

George Smith Partners Arranges $25.5 Million in Financing for its Clients

Los Angeles, CA,  (July 12, 2012) – Commercial real estate investment banking firm George Smith Partners has closed five transactions on behalf of its clients, totaling $25.537 million.

“Financing is back,” said Gary Tenzer (top right photo), Principal and Managing Director of George Smith Partners. “The market has made significant progress in 2012, and lenders are now competing for loans.  We anticipate that we will continue to see this positive trend throughout the remainder of the year.”

Tenzer notes that George Smith Partners has also seen a healthy increase in its business over the last quarter.

“Our clients continue to take advantage of record interest rates, and we now have more opportunities to utilize our expertise and industry connections to achieve the best financing possible for their properties,” noted Tenzer.

For a complete copy of the company’s news release, please contact:

Corynne Randel/ Judith Brower

Brower, Miller & Cole

(949) 955-7940

CRandel@browermillercole.com

www.gspartners.com