db Capital Ventures Formed to Provide Hotel Debt

  

Chris Clark

 WASHINGTON, D.C., Dec. 14, 2012—Officials today announced the formation of a new hotel finance company, db Capital Ventures, that will provide hoteliers with a full-range of loans, from CMBS to construction loans with financing up to 80 percent loan to value.

  Headquartered in suburban Washington, D.C., the new company will be led by hotel finance veteran Chris Clark, principal and founder.

“The hotel lending landscape remains complex but there is substantial debt available for hotels, including cash-flowing and troubled properties,” Clark said. 

“Lenders have been on the sidelines for the past several years and now are returning to the market as the hotel industry continues to recover from the Great Recession. However, today’s loan structures are different from any previous real estate cycle.”

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

Jerry Daly

 media

(703) 435-6293

jerry@dalygray.com

  

db Capital Ventures

P.O. Box 9444

McLean, Va. 22103

703-626-2828

www.dbcapitalventures.com

HFF named to market sale of student housing community near The University of Florida in Gainesville

Canopy Apartments, Gainesville, FL

CHICAGO, IL – HFF announced today that it has been named to market for sale Canopy Apartments, a 240-unit/770-bed, Class A student housing community serving The University of Florida in Gainesville, Florida.

                HFF is marketing the property on behalf of the seller, a joint venture between Glenmont Capital Management, LLC and Arlington Properties.  The property is offered without a formal asking price, free and clear of existing debt.

Brian Kelly

Canopy Apartments is located at 4400 SW 20th Avenue near the intersection of SW 43rd Street in Gainesville. 

Completed in 2009, the property has five three-story residential buildings with two-, three- and four-bedroom floor plans.

Troy Manson

Each unit has granite countertops, stainless steel appliances, 9-foot ceilings, full-size washers and dryers, 42 inch plasma televisions and private bathrooms for each bedroom. 

Community amenities include a resort-style pool, bar and grilling area, fitness center, clubhouse with gaming area, indoor basketball court, sand volleyball court, virtual golf course, tanning beds and cyber center. 

Canopy Apartments is 98 percent leased for the 2012-2013 academic year.

Manny de Zarraga

The HFF investment sales team representing Glenmont Capital Management, LLC and Arlington Properties is led by managing directors Brian Kelly and Troy Manson, and senior managing director Manny de Zárraga.

Contact:

Kristen M. Murphy

Associate Director

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

krmurphy@hfflp.com

Fifth DoubleTree by Hilton Opens In Turkey

DoubleTree by Hilton Istanbul - Avcilar

 ISTANBUL, Turkey - (Dec. 14, 2012) – DoubleTree by Hilton has announced the opening of its fifth hotel in Turkey, in the Avcilar district of Istanbul.

  DoubleTree by Hilton Istanbul – Avcilar is ideally located in the new trade and business center on the western side of Istanbul, within easy reach of the historic old town, Istanbul Ataturk Airport and the IFM Fair Centre & World Trade Centre.

Rob Palleschi

 Rob Palleschi, global head, DoubleTree by Hilton, said, “We are thrilled to be adding yet another hotel to our already superb portfolio in Turkey. 

"  DoubleTree by Hilton Istanbul – Avcilar’s tall steel structure is a striking example of Istanbul’s meteoric rise as a global center, and visitors to the city will now be able to experience the warm DoubleTree by Hilton welcome in a new prime location.”

The DoubleTree by Hilton Istanbul – Avcilar is located at Cihangir Mah. D 100 Guney Yan Yol No: 289, Istanbul, 34310, Turkey.

 For more information about the hotel or to make reservations, please visit www.doubletree.com, call 90-212-4564646 or contact your travel agent.

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

 Lauralee Dobbins

Daly Gray Public Relations

+1 703 435 6293

                                                                                                                                                                                                                                                                   Lauralee@dalygray.com

Berger Commercial Realty Negotiates $8.85 Million Sale of Plantation Technology Center in Plantation, FL

  

Plantation Technology Center, Plantation, FL

 FORT LAUDERDALE, FL – Berger Commercial Realty founder and President Lloyd Berger and Vice President Judy Dolan closed the sale of Plantation Technology Center for $8.85 million Monday. Dolan represented the buyer, COFE Fund I – Plantation, LLC, and Berger represented the seller, Plantation Properties of Broward.

 Plantation Technology Center consists of a 99,000-square-foot office building and warehouse located at 1700 and 1800 NW 66th Avenue in Plantation. Tenants include Metro PCS, the Broward County Department of Revenue, and the Federation of Public Employees.

Keith Graves

Dolan and Keith Graves, a Berger Commercial Realty broker, have been retained as leasing agents for the property. Additionally, COFE has hired Berger Commercial Realty to manage it.

Contact:

Marielle Sologuren

Pierson Grant Public Relations

msologuren@piersongrant.com

(954) 776-1999, ext. 226

Three Self-Storage Facilities Trade Hands in Tampa, FL

Safeguard Self-Storage, Tampa, FL

 TAMPA, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of the Safeguard Self Storage Portfolio, a three-property, 2,250-unit, 225,569-net-rentable square foot self-storage portfolio located in the Tampa Bay Area.

The total sales price of approximately $25 million equates to over $110 per square foot.

Michael A. Mele, a first vice president investments and senior director of Marcus & Millichap’s National Self-Storage Group, represented the seller, Safeguard Self Storage. The buyer is W. P. Carey.

Michael A. Mele

“With a current cap rate just north of six percent, this portfolio brings together three strong performers in an equally strong market,” says Mele. “Tampa’s self-storage occupancy rates spiked 200 basis points in the second half of this year, and with growth in the metro projected to accelerate to 1.4 percent each year and the jobless rate tightening below 9 percent, the new investor should see reliable revenue for the foreseeable future.”

“Our marketing of the portfolio resulted in nine official offers,” Mele adds, “and we went under contract in approximately 60 days.”

The three properties are:

• 31100 U.S. Hwy. 19 North, Palm Harbor
• 3708 West Bearss Ave., Tampa
• 2501 22nd Ave. North, St. Petersburg

  Each property in the Safeguard Self Storage Portfolio is highly visible with street frontage and conveniently located in close proximity to major retailers and Gulf Coast beaches. The facilities include both climate-controlled and nonclimate-controlled storage units. Amenities include gated electronic access, video surveillance and managers’ offices.

The Tampa Bay metropolitan region is home to 2.8 million residents and a workforce of 1.9 million people.

 Contact:

 Public Relations

(925) 953-1716

Colliers Wins Leasing and Management of Hillsboro Executive Center North in Deerfield Beach, FL

Hillsboro Executive Center North, Deerfield Beach, FL

FORT LAUDERDALE, FL - Colliers International South Florida is pleased to announce that the firm has been appointed the exclusive leasing agent and property manager for Hillsboro Executive Center North, a 171,155-square-foot office property located at 350 - 600 Fairway Drive, Deerfield Beach, FL.

 Robert Listokin, Executive Vice President, will lead the leasing effort for the over 60,000 square feet that is available. Listokin, Kevin Rude, Director of Property Management, along with Executive Vice President - Partner John Crotty, will work together to provide a full range of services to the seller.

Robert Listokin

"The landlord is offering aggressive pricing for this ideally located asset in a serene setting," says Listokin. "The property consists of six contiguous two-story buildings, of which an entire building totaling over 30,000 square feet can be made available to a single user."

The property's unique location adjacent to the Deerfield Beach Country Club makes it especially attractive for tenants looking for space with golf course views.

Kevin Rude

Adding to the property's highlights are its overall location immediately off the intersection of I-95 and Hillsboro Boulevard, as well as the neighboring Hilton Doubletree Hotel, which offers a full service restaurant, health club and meeting rooms.

"We are extremely excited to be managing Hillsboro Executive Center and will be engaging our expertise, as well as our local and national resources and energy to make this property the premiere asset of its class in the submarket," says Kevin Rude, Director of Property Management for Colliers International South Florida. 

 Contact:  

Crystal Proenza

Vice President of Marketing

Colliers International South Florida

Commercial Real Estate Services

Tel: 305 476 7138

Email: crystal.proenza@colliers.com

www.colliers.com

Commercial Real Estate Women (CREW) Orange County, CA Chapter to Present Second Annual Spire Awards Feb. 28 Honoring ‘Superior Performance In Real Estate’

Steve Case

 ORANGE COUNTY, CA – The second annual “SPIRE Awards” program, recognizing commercial real estate achievements by men and women in Orange County, has been announced by the Commercial Real Estate Women, Orange County chapter (CREW-OC).

 Open to individuals and teams in redevelopment, construction, brokerage, and lending, CREW’s SPIRE Awards recognize Superior Performance In Real Estate.  The 2nd Annual SPIRE Awards will be presented during a cocktail reception on February 28, 2013 at The Center Club.  All nominees will be published in the Orange County Business Journal on February 25, 2013.

 Nomination forms for the first awards, which are due by January 11, 2013 are now available for download at www.crewocspireawards.com. 

 The keynote speaker for the event will be Steve Case, Executive Vice President, Irvine Company Office Properties.

For a complete copy of the company’s news release, and information on nomination forms and sponsorship opportunities, please contact:

Jenn Quader

Brower, Miller & Cole

(949) 955-7940

JQuader@browermillercole.com

Second Upscale Wyndham Hotel Opens in Costa Rica’s Capital

Wyndham San José Herradura Hotel
& Conference Center 

 PARSIPPANY, NJ – Wyndham Hotel Group, the world’s largest hotel company with nearly 7,260 hotels and part of Wyndham Worldwide Corporation (NYSE: WYN), announced the opening of the 230-key Wyndham San José Herradura Hotel & Conference Center in San José, Costa Rica, the second Wyndham® Hotels and Resorts property to open in the country’s capital in the last month.

 The addition is further evidence of Wyndham Hotel Group’s steady, strategic growth in Latin America and the expansion of the upscale Wyndham® brand in the region, following the November debut of Wyndham Garden San José Escazú, the brand’s first hotel in Costa Rica.

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

Kathryn Zambito

Public Relations Manager

Wyndham Hotel Group

22 Sylvan Way

Parsippany, NJ  07054

(973) 753-6590

kathryn.zambito@wyn.com  

Marcus & Millichap Announces Sale of 236-Unit Multifamily Community in Lakeland, FL for $8.65 Million

Cleveland Heights, Lakeland, FL

LAKELAND, FL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Cleveland Heights, a 236-unit multifamily community located in Lakeland, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

 The $8,650,000 sales price equates to $36,653 per unit.

Michael P. Regan

Michael P. Regan and Francesco P. Carriera, vice president investments and multifamily specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the local seller, a private investor and the buyer, a limited liability company.

Cleveland Heights was built in 1975 with capital improvements made in 2012.  The property is located at 3520 Cleveland Heights Boulevard in Lakeland, Florida and consists of 31, one and two-story buildings with a mix of one, two and three-bedroom units.  

Francesco P. Carriera

The property is in close proximity to Interstate 4 which connects to Interstates 275 and 95.  Interstate 4 provides residents with a quick commute to Tampa, Orlando, Kissimmee and Daytona Beach.

“We were able to successfully create a market by accenting the location to both local and out-of-state buyers, while pricing it at a point to attract both add-value players and long-term, yield-driven investors” says Michael Regan.  “Needless to say, there was a lot of competition for the asset.”

Press Contact:

Richard D. Matricaria

Regional Manager,

 Tampa

(813) 387-4700