Lincoln Property Company Southeast Brokers Saltmarsh, Cleaveland & Gund’s Lease of 3,200 SFt in Orlando’s Baldwin Park

  

Baldwin Park Building III, Orlando, FL

ORLANDO, FL (April 26, 2013) – Lincoln Property Company Southeast (Lincoln) has brokered the accounting firm Saltmarsh, Cleaveland & Gund’s new lease of 3,200 square feet in Baldwin Park Building III in Orlando. The lease brings the Class-A building’s occupancy rate to 100 percent.

Jay Dixon

 Jay Dixon, vice president, office, for Lincoln represented the landlord in the transaction, and John Gay of Cresa represented the tenant.

 The three-story, 45,000-square-foot Building III is located at 4798 New Broad Street in the Baldwin Park Village Center, the business and retail center of the Baldwin Park neighborhood. The site is within walking distance of many restaurants and is just three miles from downtown Orlando.

Scott Stahley

“We are pleased to be able to secure such an outstanding tenant for this outstanding property,” said Scott Stahley, senior vice president for Lincoln.

 “Jay has done a great job in bringing this building to full occupancy, and we are excited about the opportunity to use our expertise and experience in a recovering office market to continue to create excellent value for all of our office landlords.”

  

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

Stephen Ursery

The Wilbert Group

404-965-5026

sursery@thewilbertgroup.com

57-Story IDS Center, Minnesota’s Tallest Office Tower, Acquired by Beacon Investment Properties in a Joint Venture with Harel Insurance & Finance and Menora Mivtachim Insurance for $253 Million

IDS Center, 80 South Eighth Street
Minneapolis, MN

MINNEAPOLIS, MN. (April 26, 2013) -- The 57-story IDS Center, Minnesota’s tallest office tower and Minneapolis’ signature skyscraper, has been acquired by Beacon Investment Properties, LLC of Hallandale Beach, FL in a joint venture with Tel Aviv-based Harel Insurance Investments & Financial Services Ltd. and Menora Mivtahim Insurance Ltd. from Inland American Real Estate Trust, Inc. Oak Brook, IL for $253 million.

Ariel Bentata

       The 1.4 million-square foot glass and steel postmodern architectural landmark, with its 25,000 square foot indoor park and fountain, has a 93% leased office tower and the two-level retail plaza called Crystal Court which is 100% leased.

        Located at 80 S. 8th St., and occupying a full square block of the Nicollet Mall in what is considered the epicenter of downtown Minneapolis, the IDS Center was designed in 1972 by architect Philip Johnson, known for creating iconic corporate headquarters including the Seagram’s Building in New York City and the Pittsburgh Plate Glass Center in Pittsburgh.

Claude Dombey

        Ariel Bentata, chief investment officer and founding partner of Beacon Investment Properties, said, “Our company is delighted and proud to own the premier office complex in one of America’s most progressive and dynamic markets, the Twin Cities. It is a stable asset with long term tenants and a history of strong financial performance. 

"We are honored to assume the stewardship of IDS Center from Inland American which took very good care of this commercial real estate icon during its seven year ownership. We will carry on that tradition.”

        Claudio Dombey, a founding partner and chief of investor relations, cited the “solid support of our partners Harel Insurance Investments & Financial Services, Ltd. and Menora Mivtachim Insurance Ltd. In Tel Aviv that enabled us to expedite this sizeable and complex transaction. We are very fortunate to have such an excellent partnership.”

        Inland American Real Estate Trust, Inc., which has owned IDS Center since 2006, said it is selling the office complex to focus its investment portfolio on the lodging, retail and student housing segments.

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

www.hfflp.com

Chris Barnett (cbarn@aol.com) (o) 415-921-5092 (m) 415-336-5092

Terry Kennon (terry@beaconri.com (o) 972-385-8787 (m) 214-676-0693

www.inlandamerican.com

http://www.harel-group.com/

www.beaconri.com

HFF closes sale of Upper West Side multi-housing property

166 West 75th Street, Upper West Side
 Manhattan, NY

Jeffrey Julien

NEW YORK, NY – HFF announced today that it has closed the sale of 166 West 75th Street, a 207-unit multi-housing property with 3,425 square feet of ground floor retail on Manhattan’s Upper West Side.

                HFF marketed the property exclusively on behalf of the seller. 

KC Patel

                166 West 75th Street is located near the intersection of Amsterdam Avenue and 75th Street close to Central Park, Riverside Park, Lincoln Center, and the 72nd Street Subway Station. 

The property is 16 stories and includes market-rate, rent-stabilized, SRO and vacant units.   Simon Development Group purchased the asset and intends to renovate the property.

Andrew Scandalios

                The HFF team representing the seller was led by managing director Jeff Julien, director KC Patel, senior managing directors Andrew Scandalios and Jose Cruz and managing director Kevin O’Hearn.

                “We are excited to add 166 West 75th to our portfolio,” said Matthew Baron, principal of Simon Development Group.

Jose Cruz

                “This was a value-add multi-housing opportunity in an outstanding location and garnered substantial interest,” added Julien.

Kevin O'Hearn

                Simon Development Group develops, owns, manages and asset manages a diverse portfolio of residential, hotel, retail and industrial space. 

To date, the current portfolio includes 13 buildings containing approximately 1,000 residential units, a roster of national retail stores, a soon to be built 260 room, 30-story, boutique hotel and 160,000 square feet of commercial space.  The properties are located throughout New York City.

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

Voit Real Estate Services Continues Expansion with Addition of Robert Woods in Inland Empire, CA Office

Robert Woods

Inland Empire, CA (April 26, 2013) – Voit Real Estate Services’ Inland Empire office is pleased to announce the addition of Robert Woods as Senior Vice President, according to Ian Britton, Managing Director of Voit’s Inland Empire office.

“To further our growth through 2013, Voit continues to recruit experienced, top producers to join our team,” commented Britton. “Woods is a strong, well-established professional in the commercial real estate industry who has a successful record of serving his clients well and he will be an excellent addition to our team.”

Prior to joining Voit, Woods was with CBRE where he distinguished himself as a leader in the Inland Empire area. He was involved in over 1,000 transactions offering his tenant and landlord clients focused service with constant attention.

Ian Britton

Woods graduated with his bachelor of arts in Business from Cal State Fullerton and is currently a member of the American Office of Real Estate Association.

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

Jessamyn Miller  

Voit Real Estate Services

949-566-6422

jjmiller@voitco.com

ZipRealty’s New Mobile Website Features Full-Screen Home Photos and Consistent Global Navigation

Jamie Wilson

EMERYVILLE, CA – ZipRealty, Inc. (http://www.ziprealty.com) (NASDAQ: ZIPR), the most prominent online real estate brokerage company and technology provider in the United States, today launched a new mobile website,http://m.ziprealty.com, according to Jamie Wilson, Senior Vice President of Technology.

Consumers can now access comprehensive real estate data on ZipRealty’s full website from their mobile devices, without having to download an app.

 In addition to viewing all of the homes for sale in a particular area, interested home buyers can immediately access the most accurate and complete real estate data, including home listings that are updated every two minutes, multiple photos, interactive maps, neighborhood statistics, nearby schools, public transportation, assess home Walk Scores and connect with a qualified real estate agent, among other features.

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

 Stacey Corso

Public Relations Manager

ZipRealty, Inc.

Office: 510.735.2667

Cell: 415.672.6460

www.ziprealty.com

Follow us on Twitter: @ZipRealty

Chatham Lodging Announces First Quarter Earnings Call to be Held May 8

  

Jeffrey H. Fisher

PALM BEACH, FL - Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on upscale extended-stay hotels and premium-branded select-service hotels, announced that it will report first quarter 2013 financial results on Tuesday, May 7, 2013, following the close of the market.

 On Wednesday, May 8, 2013, at 11:00 a.m. ET, Jeffrey H. Fisher, Chatham’s chief executive officer, and Dennis M. Craven, its chief financial officer, will host a conference call to review first quarter 2013 financial results.

Dennis M. Craven

Shareholders and other interested parties may listen to a simultaneous webcast of the conference call on the Internet by logging onto Chatham’s Web site, www.chathamlodgingtrust.com, or www.streetevents.com, or may participate in the conference call by dialing 1-877-941-0843, reference number 4616125.

 A recording of the call will be available by telephone until midnight on Wednesday, May 15, 2013, by dialing 1-800-406-7325, reference number 4616125.  A replay of the conference call will be posted on Chatham’s website.

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

Jerry Daly              

Daly Gray Public Relations                                  

(Media)                                                                

jerry@dalygray.com 

(703) 435-6293                                                    

Dennis Craven

Chief Financial Officer

 (Company)               

dcraven@cl-trust.com

 (561) 227-1386              

NAI Realvest Negotiates Two New Office Leases totaling 13,771 SF at Crystal Center in Lake Mary, FL

Crystal Center, 3300 West Lake Mary Boulevard
 Lake Mary, FL

ORLANDO, Fla. – NAI Realvest recently negotiated two new lease agreements for Class A office space totaling 13,771 square feet in the Crystal Center at 3300 West Lake Mary Blvd. in Lake Mary.

Mary Frances West

Senior Broker-Associate Mary Frances West, CCIM negotiated both transactions representing the landlord, Maya Associates LLC of Okemos, Mich.

 The Nemours Foundation, based in Jacksonville, leased suite 100 with 8,815 square feet of medical office space at the Crystal Center.   The Nemours Foundation, a non-profit children’s health organization with clinics in Florida and the Northeast was represented by Mickey Hage, Inc.

 J.D. Insurance & Financial Group, leased suite 300 with 4,956 square feet from the landlord, Maya Associates, LLC at the Crystal Center.     J.D. Insurance & Financial Group, which specializes in commercial property and business owners insurance including professional liability, was represented in the lease agreement by Jonathan Fitzgerald of Charles Ruttenberg Orlando.

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

Mary Frances West, CCIM Senior Associate, NAI Realvest 407-875-9989 or mwest@realvest.com

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

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

Prologis Awards Berger Commercial Realty Exclusive Leasing Assignment for I-595 Distribution Center in Davie, FL

One of several businesses at I-595 Distribution Center, Davie, FL

FORT LAUDERDALE, FL -- Berger Commercial Realty, a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced it has been awarded the exclusive leasing assignment for a two-building, modern-style industrial facility, known as the I-595 Distribution Center, by Prologis, the leading owner, operator and developer of industrial real estate in regional markets worldwide.

Greg Milopoulos

The 150,452-square-foot property, located at 7050-7060 W. State Road 84 in Davie, is situated on more than 12 acres of land strategically located in central Broward County along the I-595/State Road 84 corridor with convenient access to the tri-county market. 

The facility has 18,424 square feet of prime office-distribution space currently available for lease. Features include 22+/- foot clear height ceilings, a combination of docks and loading ramps, and three-phase power.

Keith Graves

 "Prologis understands that real estate is ultimately a 'local' business," said Berger Commercial Realty broker Keith Graves, who will be handling leasing for the property along with broker associate Greg Milopoulos. "They recognize that we are a highly effective, Florida-based firm with expertise in this type of property, and know that  we already service a large industrial portfolio."

 Prologis owns or has investments in properties and development projects totaling approximately 554 million square feet in 21 countries. The company leases modern distribution facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises.

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

Marielle Sologuren

Pierson Grant Public Relations

msologuren@piersongrant.com

(954) 776-1999, ext. 226

Berger Commercial Realty Announces Three New Lease Transactions

4911 Lyons Technology Parkway, Coconut Creek, FL

Judy Dolan

 FORT LAUDERDALE, FL )- Berger Commercial Realty, a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced three new lease transactions from brokers Judy Dolan, Greg Milopoulos and Jonathan Thiel.

Greg Milopoulos

The properties are:

 4911 Lyons Tech Parkway, Suite 10, Coconut Creek, FL Landlord: 4811 Lyons Tech Pkwy., LLC, represented by Judy Dolan and Greg Milopoulos Tenant: Unsworth Photography Type: Warehouse Transaction: Lease Renewal Square Footage: 1,562

Jonathan Thiel

5001 N.W. 13th Ave. Bay K,L, Deerfield Beach, FL 33064 Landlord: Terri Froelich, represented by Judy Dolan and Jonathan Thiel Tenant: Creative Lighting Solutions, LLC Type: Warehouse Transaction: Sublease Square Footage: 10,000

 2029 Hollywood Blvd., Hollywood, FL 33020 Landlord: 2019-2030 Hollywood, represented by Judy Dolan Tenant: House of Willow, LLC Type: Retail Transaction: New Lease Square Footage: 1,000

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

Marielle Sologuren

Pierson Grant Public Relations

msologuren@piersongrant.com

(954) 776-1999, ext. 226

Steven Fifield Receives E.J. Plesko Distinguished Speaker in Real Estate Development Award from the Wisconsin School of Business

Michael Brennan (left) and Steven Fifield

CHICAGO, IL --  Steven Fifield, president and CEO of Chicago-based Fifield Cos., has received the E.J. Plesko Distinguished Speaker in Real Estate Development award from the James A. Graaskamp Center for Real Estate at the Wisconsin School of Business.

 “To be recognized with this award from one of the country’s leading real estate programs is truly an honor,” said Fifield. “The school has long been a training ground for some of the best and brightest in our industry and I have personally hired several of its graduates throughout my career. I know the school prepares its students extremely well and it is a privilege to be associated with it.”

 Fifield was honored at a luncheon on the University of Wisconsin-Madison campus in Madison on Friday, April 5, where he addressed faculty and staff of the real estate program with his thoughts and advice on the commercial real estate industry.

 The Graaskamp Center presented Fifield with the award because he has been an industry trendsetter, as well as a prolific and successful developer of office and residential property throughout his 30-year career. In that time period, Fifield has developed more than 50 high- and mid-rise apartment and office towers nationwide.

 “We were honored to present the E.J. Plesko Real Estate Development Award to Steve Fifield,” said Michael Brennan, executive director, Graaskamp Center for Real Estate at the Wisconsin School of Business.  “He’s been an innovative leader in real estate development and he truly embodies the Wisconsin tradition in his spirit, imagination, and enthusiasm for making a positive impact on the built environment.  It was a great privilege for our students to have Steve in Madison to share his wisdom and wealth of experience with them.”

 As co-founder of Century West Partners, a Los Angeles-based residential developer, Fifield also is bringing more than 2,000 new apartment units over the next two years to downtown Los Angeles and Santa Monica, Calif.

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

Kim Manning,

kmanning@taylorjohnson.com,

312-267-4527

Mark Thomton,

 mthomton@taylorjohnson.com,

312-267-4523

www.fifieldco.com

                         

Janet Neman, Senior Managing Director at Charles Dunn Co., Chosen as Honoree for Lakers / Comerica Bank Best of LA Women's Business Awards

  

Janet Neman

  

LOS ANGELES, CA– Janet Neman, senior managing director with Charles Dunn Company, has been chosen as an honoree for the Best of LA Women’s Business Awards.

Darrell Levonian

This is the fourth season that the Lakers and Comerica Bank have partnered to create a business awards program that recognizes women in leadership in LA County, in tribute to their contributions.

Neman was given on-court recognition at an awards ceremony prior to the Lakers game on April 14 by a representative of Comerica Bank.

                “Janet has been an outstanding leader at Charles Dunn Company for more than 17 years and is deserving of this notable honor,” said Darrell Levonian, executive managing officer with Charles Dunn. “She is an excellent example to women as well as to all of the commercial real estate community.”     

Neman has been named one of Charles Dunn Company’s “Top 10 Company-wide Top producing Agents” in 2011 and 2012.  In 2012, she conducted more than $100 million in sales transactions.

She primarily specializes in the analysis, marketing and sale of multifamily properties with a track record of portfolio sales in the Southern California market.  Over her career, Janet has completed a total of $950 million in sales transactions.

Neman is involved not only in commercial real estate brokerage, she also supports single women in need as demonstrated by her dedication to and involvement with the Los Angeles Shelter for Battered Women. Her personal donations, sponsorship and coordination delivering funds provide basic living needs for women in the organization.  

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

Darcie Giacchetto

D.G. Communications, Inc.

949.278.6224

www.charlesdunn.com

Beech Street Closes $17 Million Fannie Mae Loan to Refinance Portfolio of 19 Student Apartment Complexes in Tuscaloosa, AL

   

College Station student houseing porffolio
Tuscaloosa, AL

BETHESDA, MD – Beech Street Capital, LLC announced it closed a $17 million Fannie Mae Dedicated Student Housing loan to refinance the College Station Portfolio, which consists of 264 units in nineteen properties owned by ROAR, LLC, in Tuscaloosa, Alabama.

Chad Thomas Hagwood

Chad Thomas Hagwood, executive vice president of loan originations for Beech Street, originated the loan, and Brandon E. Pate managed the transaction.

 “The College Station Portfolio was an excellent fit for Fannie’s Dedicated Student Housing program,” notes Hagwood.  

“ROAR has a proven track record with student properties, and the properties themselves, within walking distance of campus, are in very high demand with University of Alabama students.” 

 The properties typically operate at 99 percent occupancy. The interest rate on the loan was in the low four percent range.

 The complexity of the portfolio, with 19 properties built between 1920 and 1992 clustered in three groups around the campus, proved no obstacle to Beech Street’s team.  “The hallmark of the Beech Street approach is our ability to adapt to our borrowers’ circumstances,” Hagwood notes.

University of Alabama, Tuscaloosa, AL

 The Tuscaloosa apartment market is dynamic and very active, fueled by the dramatic growth of the University of Alabama over the past ten years and the redevelopment that has occurred in the wake of the devastating tornadoes that hit the city in April 2011, including a multi-million dollar downtown urban renewal project. 

 The fixed-rate loan has a 10-year term and 9.5 years of yield maintenance with 30 years of amortization, payable on an actual/360 basis.

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

Courtney Lewis

 240-507-1948 or

Jenifer Bernardi

240-507-1946.  

Greystone Closes $43.81 Million Loan for Multifamily Property in San Jose, CA

Chateau LaSalle Drive, San Jose, CA

New York, NY  – Greystone, a leading national provider of multifamily and healthcare mortgage loans, today announced it has provided a $43.81 million Fannie Mae Delegated Underwriting and Servicing (DUS®) Loan for Chateau La Salle, a housing community in San Jose, California.

Tim Thompson

 The loan was originated by Tim Thompson, Managing Director of Greystone’s San Francisco office. The 10-year fixed rate loan transaction has a 30-year amortization for the community that consists of 434 homes.

 “Our long term relationship with Fannie Mae and our deep knowledge and experience of the multifamily market on the West Coast enabled the Greystone team to work quickly and efficiently on behalf of Chateau La Salle,” said Rick Wolf, Senior Managing Director of Greystone’s Fannie Mae production team. “We see immense growth potential in the West Coast and look forward to continued success in the region.”

Robert Mallett

 The Greystone team worked closely with Fannie Mae to ensure that the deal closed on schedule, even as the property’s ownership structure changed a week before the approval deadline. In addition, Thompson and his team were able to secure better pricing for the borrower from an earlier proposal, and Greystone waived all impounds and reserves escrows.

 The deal was brought to Greystone by Robert Mallett, director at Marcus & Millichap Capital Corporation.  Based in Palo Alto, Mallett has worked with borrowers and originators throughout Northern California for more than 20 years and helped facilitate the deal’s terms with Fannie Mae and Greystone.

Rick Wolf

“It’s a pleasure working with a creative and caring organization like Greystone to serve a great property like Chateau La Salle,” said Mallett. “The strong relationship between Greystone and Marcus & Millichap has been a vital component to our success in multiple regions across the country, and I look forward to continuing to work closely with Greystone to provide financing opportunities for clients throughout Northern California.”

 Greystone is ranked as a top-10 Fannie Mae lender by volume and was the number one FHA lender for 2012. With more than 200 mortgage professionals throughout the United States, Greystone is the multifamily industry expert and leader. For more information about Greystone’s multifamily lending solutions please visit http://www.greyco.com/multifamily

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

Loretta Mock/Jessica Kleinman

Cognito

+1 646 395 6300

Greystone@cognitomedia.com

Cousins Properties Acquires Austin, TX Office Tower

                816 Congress Avenue, 434,000-square-foot, Class-A office building 

                                                Downtown Austin, TX

Larry Gellerstedt

ATLANTA, GA--Cousins Properties Incorporated (NYSE: CUZ) has acquired 816 Congress Avenue, a 434,000-square-foot, Class-A office building located in Downtown Austin, Texas.

The Company purchased the office tower for a net purchase price of $102.4 million, which equates to $236 per square foot. The acquisition was funded with cash proceeds from Cousins’ recent follow-on stock offering.

“This represents another attractive acquisition for Cousins as we continue to target quality urban office assets in the best southeastern submarkets at valuations below replacement cost,” said Larry Gellerstedt, President and Chief Executive Officer of Cousins. “We have a long, successful history in Austin and are very excited about the opportunity to create value at 816 Congress Avenue.”

Texas State Capitol

Cousins has played a prominent role in the Austin real estate market for over 20 years, with a list of notable projects including Frost Bank Tower and Palisades West.

816 Congress Avenue is currently 78 percent leased to a diverse tenant base, including Teachers Retirement System of Texas, Lloyd Gosselink, and AT&T Services. With overall office occupancy in the Austin CBD submarket at 89 percent, the building is well positioned for future occupancy growth.

Cousins intends to utilize its market expertise and strong local relationships to drive new leasing momentum. The Company also plans on leveraging 816 Congress’ attractive location and recent capital improvements, which include a 12,000-square-foot terrace on the 15th floor with unobstructed views of the Texas Capitol Building. The building also offers a top quality fitness facility and state-of-the-art conference center.

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

Cousins Properties Incorporated

Cameron Golden, 404-407-1984

Vice President of Investor Relations and Corporate Communications

camerongolden@cousinsproperties.com