HFF secures $73 million financing for 17Seventeen McKinney in Dallas, TX

17Seventeen McKinney, Akard Street and McKinney Avenue, Uptown Dallas, TX

 

Trey Morsbach

DALLAS, TX – HFF announced today that it has secured $73 million in financing for 17Seventeen McKinney, a 369,014-square-foot, 19-story, Class AA office property in Dallas’ Uptown submarket.

               HFF worked on behalf of Granite Properties to secure the seven-year, fixed-rate loan through Regions Bank.  Loan proceeds will be used to replace the original construction loan on the property.

17Seventeen McKinney is located on the corner of Akard Street and McKinney Avenue proximate to Dallas’ new Clyde Warren Park in the Uptown/Turtle Creek submarket. 

The property shares a full city block with the newly-developed, luxury residential community Park Seventeen, and is adjoined by an amenities deck that includes a state-of-the-art fitness center, a variety of vegetation, and convenient seating areas for tenants. 

Completed in 2010, the LEED Gold certified building is 95 percent leased to tenants such as Regions Bank, Huitt-Zollars, Red Bull North America, Top Golf, Clarion, American Airlines, and Bain & Company along with several other regional companies. 

               The HFF team representing the borrower was led by senior managing director Trey Morsbach and associate director Jim Curtin.

Jim Curtin

Granite Properties, Inc. is a diversified real estate investment and management company with offices in Atlanta, Dallas, Denver, and Houston. 

Since its inception in 1991, Granite has acquired and developed over 20 million square feet of real estate and currently owns and manages an extensive portfolio, including over 10 million square feet of office, industrial and retail properties in several states.

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

Taylor & Mathis’ Brian Gale Sees No Slowdown in Sight as His Leasing Team Looks Towards Another Record Breaking Year

The Taylor & Mathis of Florida Miami-Dade Leasing Team, from left: Andrew Trench, Nicole Gamarra, Brian Gale, Jeannette Mendoza and  Ryan Holtzman

Miami, FL,  Jan. 29, 2014 --  The Taylor & Mathis of Florida Miami-Dade leasing team had a record breaking year in 2013. 

The team whose leasing portfolio encompasses four million square feet of office space throughout Miami-Dade as well as an office tower in West Palm Beach completed over 100 leases last year. 

Brian Gale

The leases totaled nearly 700,000 square feet and were valued at $165 million.

 “The office market is sizzling right now,” said Taylor & Mathis Principal Brian Gale. 

 “Rents are increasing and tenant concessions are beginning to dwindle. Most of the tenant expansions have been in the field of professional services which include law firms, accounting firms, insurance agencies, etc.

“The Downtown/Brickell market was the hottest of the Miami-Dade submarkets in 2013 and is showing no sign of slowing down. Rental rates are increasing as is the absorption of vacant spaces.

“Throughout our 4 million square foot portfolio, we leased over 322,000 square feet of new leases, 276,000 square feet of renewals and over 92,000 square feet of expansions. We did six leases over 30,000 square feet and two were over 40,000 square feet.”

Andrew Trench

Taylor & Mathis leasing team includes Brian Gale, Andrew Trench, Ryan Holtzman and Jeannette Mendoza.

Key lease deals included:

·         Akerman Senterfitt’s 40,000 square foot lease and Morgan Stanley’s 30,000 square foot renewal at Phillips Point in West Palm Beach

·         GrayRobinson’s 35,500 square foot lease at Wells Fargo Center in Downtown Miami

·         Quest Workspaces’ 20,000 square foot lease at 777 Brickell and 37,000 square foot lease at Espirto Santo Plaza in Miami’s Brickell Financial District

·         Weil Gotshal & Manges’ & Fowler White Burnett’s renewals at Espirito Santo Plaza

“One of the keys to the leasing team’s success was securing renewals and expansions,” said Andrew Trench, Taylor & Mathis Leasing Director.

“Many of our existing tenants were courted heavily by nearly every Brickell and Downtown Miami office building including the new developments. 

Phillips Point, West Palm Beach, FL

“The key to getting those deals done was our existing relationships and our outstanding management teams. We were able to negotiate and finalize those renewals relatively smoothly, despite the market aggressively pursuing them.”

 Taylor & Mathis was named Property Management Company of the Year at the 2013 Miami-Dade BOMA awards.

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

Brian Gale, Principal, Taylor & Mathis

(305) 476-8880   bgale@taylormathis.com

Andrew Trench Leasing Director, Taylor & Mathis

(305) 476-8880   atrench@taylormathis.com

www.TaylorMathis.com.

Cuhaci & Peterson Architects awarded contract to design interior renovations at Mitchell’s Fish Market in Tampa, FL

 

Mitchell's Fish Market, Tampa, FL

Orlando, FL – Cuhaci & Peterson Architects Engineers Planners, based in Orlando’s Baldwin Park, have been awarded a contract to handle interior renovations at Mitchell’s Fish Market at the Westshore Plaza in Tampa.

Lonnie Peterson, chairman at Cuhaci & Peterson, said the renovation will include some 5,000 square feet of retail shop space.

Cuhaci & Peterson Architects is one of the nation’s leading designers of retail space with projects that total more than two million square feet annually.

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

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

The Hamptons Center for Rehabilitation and Nursing in Southampton, New York.

Ben Philipson
(Photo by Howard Schnapp)

 New York, NY – Jan. 29, 2014 – Greystone, a leading national provider of multifamily and healthcare mortgage loans, today announced it has closed a $54.5 million bridge loan for acquisition of The Hamptons Center for Rehabilitation and Nursing in Southampton, New York.

Fred Levine, originator in Greystone’s Monsey, New York office, worked to close the loan.

The interest-only bridge loan, closed by Greystone in 90 days, is the latest of multiple loans that Greystone has secured on behalf of SentosaCare over the past decade.

The Hamptons Center for Rehabilitation and Nursing is a 280-bed skilled nursing facility that currently has a 96.8% occupancy rate. The healthcare center provides a full range of services for its residents including rehabilitation, medical, housekeeping, lab work and physical therapy. 

“We’re an organization that places high importance on relationships, and after 10 years of working together, we believe Greystone shares the same values,” said Ben Philipson, principal of SentosaCare.

Arthur Hatzopoulos

 “As a trusted partner, Greystone is well-versed in navigating the challenges of securing financing for skilled nursing facilities and senior housing, especially in regions where property values are quite high,” Mr. Philipson added.

 “We have a great team at Greystone. They are talented, hard-working, and committed to meeting our customers’ interim and permanent financing needs and really exceeding their expectations,” said Arthur Hatzopoulos, Executive Managing Director at Greystone. “As a result, we find that valued new clients turn into valued long-term clients,” he added.

Greystone was the number one FHA lender in 2013 and is ranked as a top-10 Fannie Mae lender. 

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

Karen Marotta

PR Manager

Greystone

152 W. 57th Street

New York, NY 10019

212-896-9149 direct

917-902-7073 mobile

kmarotta@greyco.com

www.greyco.com  

Chatham Lodging Trust Announces 2013 Distribution Characterization

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 the characterization of dividends declared in 2013 on its common shares for federal income tax reporting purposes.

Type of Dividend	Record Date	Payment Date	Dividend Per Common Share	Taxable Ordinary Income	Return of Capital
Regular	01/31/13	02/22/13	$0.07	$0.06	$0.01
Regular	02/28/13	03/29/13	0.07	0.06	0.01
Regular	03/28/13	04/26/13	0.07	0.06	0.01
Regular	04/30/13	05/31/13	0.07	0.06	0.01
Regular	05/31/13	06/28/13	0.07	0.06	0.01
Regular	06/28/13	07/26/13	0.07	0.06	0.01
Regular	07/31/13	08/30/13	0.07	0.06	0.01
Regular	08/30/13	09/27/13	0.07	0.06	0.01
Regular	09/30/13	10/25/13	0.07	0.06	0.01
Regular	10/31/13	11/29/13	0.07	0.06	0.01
Regular	11/29/13	12/27/13	0.07	0.06	0.01
Regular	12/31/13	01/31/14	0.07	0.06	0.01
			$0.84	$0.72	$0.12

No portion of the dividends declared in 2013 represented foreign taxes, capital gains or qualified dividend income.  The CUSIP number for Chatham Lodging Trust common shares is 16208T102.

Record holders of Chatham Lodging Trust common shares who received any of the dividends specified in the table above will receive an Internal Revenue Service (IRS) Form 1099-DIV from Wells Fargo Bank, N.A., the company’s dividend paying agent. 

The Form 1099-DIV will report the dividends paid with respect to 2013.  Shareholders whose shares are held in “street name” will receive an IRS Form 1099 from the bank, brokerage firm, or other nominee holding their shares. 

The regular common share dividend declared for shareholders of record as of December 31, 2013, and payable on January 31, 2014, will be reported on shareholders’ IRS Form 1099 for the 2013 tax year.

The information in the table above is based on the preliminary results of work on the tax filings of Chatham Lodging Trust and is subject to correction or adjustment when the filings are completed.  No material change in these classifications is expected.

 

The tax information above should not be construed as tax advice and is not a substitute for careful tax planning and analysis.

Shareholders are encouraged to consult with their own tax advisors regarding the specific federal, state, local, foreign and other tax consequences of ownership of Chatham Lodging Trust’s common shares and the specific tax treatment of distributions on Chatham Lodging Trust’s common shares.

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

Dennis Craven

 (Company) 

 Chief Financial Officer                       

(561) 227-1386                                             

 www.chathamlodgingtrust.com