Thursday, April 17, 2014

Banner Essex Strategic Apartment Fund II LLC Acquires Ansley Falls Apartments in Charlotte, NC

Ansley Falls Apartments, Charlotte, NC

Milton Pinsky
NORTHBROOK, IL – Banner Essex Strategic Apartment Fund II announced that it has acquired the 274 unit Ansley Falls Apartments located in Charlotte, NC.

  Ansley Falls is strategically located in the Pineville submarket, only 5 miles from downtown Charlotte, 3 miles from the airport, and has convenient access to multiple highway systems and desirable retailers. 

The Fund purchased the Class-A asset, built in 2010, in joint venture with an affiliate of The Hartford (NYSE: HIG).  The Seller was an affiliate of Sherman Residential, also of Northbrook, IL.  Dean Smith and John Heimburger of ARA Carolinas brokered the transaction.

According to Milton Pinsky and Doug Imber, sponsors of the Fund, “Ansley Falls is an outstanding asset and is consistent with our criteria of acquiring well-located properties in select Midwest and Sun-belt markets that exhibit strong population, job and wage growth, along with a business friendly climate.

“ Additionally, joint-venturing with The Hartford further strengthens our platform, while simultaneously providing better  diversification to our Fund.” 

Doug Imber
They added that “Financing the property with a modest 60% loan to value from Freddie Mac enhanced our borrowing terms as well as our risk adjusted returns.”   

This is the Fund’s second acquisition, after its 2013 purchase of the 192 unit Wellington at Willow Bend Apartments in Plano, Texas.  The fully integrated real estate operating company was founded in 1989 and has since acquired and operated 40 multifamily properties totaling nearly 8,500 units across nine states.

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

Doug Imber at 773.305.4902 or email him at

Southeast Food Distribution Moves Corporate Office to Miramar Park of Commerce in Florida

Miramar Park of Commerce, Miramar, FL

Richard Bauer
MIRAMAR, FL – Southeast Food Distribution, a leading distributor of dry, frozen and refrigerated food products in the Southeast, has moved its corporate office from Miami Gardens to the Miramar Park of Commerce, the largest locally owned and managed Business Park in South Florida. 

With the move to the Park, the company will house all corporate functional areas under one roof.

 “Miramar Park of Commerce provides a well-maintained and flexible environment and offers Southeast Food Distribution and its three operating divisions: Southeast Frozen Foods, Southeast Wholesale Foods, and The American Logistics Group/TALG, many benefits by now being located in one of the largest commerce parks in the region to conduct business" said Rich Bauer, President/CEO of the company.

Maridee Bell
 “Our new offices will be strategically located between both our Southeast Frozen Foods’ distribution center and our Southeast Wholesale Foods’ distribution center,” Bauer adds. 

 “We chose MPC for its strategic location and its aesthetically pleasing and safer environment. The location also provides a good labor pool and access to many hotels and restaurants for our visitors and associates.”

“Large regional companies such as Southeast Food Distribution not only require specific space needs but also easy access to major roadways, and we’re able to offer that here at the Park,” said Maridee Bell, vice president of Sunbeam Properties, developer of the Park.

Bell and Ryan Goggins of Sunbeam Properties, along with Jonathan Kingsley of Jones Lang LaSalle, represented the Park in the transaction. Representing Southeast Frozen Foods were Lee Katsikos of The Katsikos Group and Michael Sigerman, PA.

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

Jenna Leon
Pierson Grant Public Relations
954-776-1999, ext. 242

Sky by Crown Apartments Breaks Ground in North Sydney, Australia

Crown Group CEO Iwan Sunito and North Sydney Mayor
Jilly Gibson at ceremonial ground-breaking of
 Skye by Crown apartments
NORTH SYDNEY, AUSTRALIA– North Sydney’s transformation from weekday business hub to thriving residential village has stepped up a gear as an iconic apartment development breaks ground.

 Skye by Crown, the latest development from Sydney-based property developer Crown Group, set to become one of North Sydney’s iconic apartment buildings, officially commenced construction after a ground breaking ceremony held today. 

Designed by Japanese-Australian architect Koichi Takada, the 20-storey building will feature 242 apartments, an expansive foyer, ground-floor retail outlets, a top-floor gym and infinity-edged rooftop pool with stunning views over North Sydney.

More than $200 million worth of apartments at Skye by Crown have been sold since its launch last year, including a penthouses sold for $3.38 million and $3.465 million.

 Crown Group CEO Iwan Sunito together with Mayor of North Sydney Jilly Gibson turned the first sod on site.  The successful demolition of a pre-existing office building paved the way for construction of Skye by Crown to begin on schedule.

Crown Group CEO Iwan Sunito said the company’s vision for Skye by Crown was to create an icon in Sydney for decades to come.

“Skye by Crown has been an exceptional project from the start – from the first stages of development and design selection through to one of the most successful sales launches in Crown Group’s history,” Sunito said.

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

Hwee Peng Yeo
Director of Asian Markets
Glodow Nead Communications
Level 21, Centennial Tower
3 Temasek Avenue
Singapore 039190

Jim Ackerman to Join Hartman Simons as a Partner in Atlanta, GA

Jim Ackerman
 ATLANTA, GA (April 17, 2014) – Hartman Simons & Wood (Hartman Simons), an Atlanta-based law firm specializing in commercial real estate, has hired retail real estate veteran Jim Ackerman as a partner. He will join the firm on April 21.

Ackerman comes to Hartman Simons after nearly 15 years at The Sembler Co., a retail development and services firm that operates throughout the Southeast. He serves as general counsel and vice president of leasing in the firm’s Atlanta office.

“This is truly an outstanding hire for Hartman Simons,” said Gil Y. Burstiner, managing partner of the firm. “Retail real estate is a huge part of our practice, and Jim will bring a tremendous amount of expertise and experience to our many clients in this recovering and growing sector.”

Prior to joining The Sembler Co., Ackerman was a retail leasing broker at Coldwell Banker, a real estate attorney at the law firm of Sutherland Asbill & Brennan, and an attorney and regional real estate director at Eckerd Corp. He has a business degree from Emory University and a law degree from the University of Georgia.
 For more information check out our website at and our blog

For a complete copy of the company’s news release, please contact:
Stephen Ursery •The Wilbert Group
1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309
O: 404-549-7150  • M: 404-405-2354

Franklin Street Sells Freestanding Sprint in South Tampa, FL for $1.25M, All Cash

Sprint Building, 3432 W. Kennedy Boulevard.
between Dale Mabry Highway and S. MacDill Avenue, South Tampa, FL

Rafeal Wright

 TAMPA, FL (April 17, 2014) —Franklin Street announces the sale of a freestanding Sprint in South Tampa for $1,250,000, representing $325 per square foot.

Rafeal Wright, CCIM and Jonathan Graber, CCIM represented the buyer, a local investor. The seller is a national investor.

“The demand for triple-net property located in infill areas with credit tenants has always been very strong,” Wright said. “Sprint, the third-largest wireless network operator in the US, has been able to take advantage of the location’s strong traffic counts and great visibility.”

Sprint has operated in the location since 1998, currently paying a market rent with one of the top performing locations in the region.

“Retail values have rebounded over the past 12 to 24 months as the economy has improved,” Graber said. “Property performance has improved, interest rates have remained at all-time lows, and a lack of new construction has kept supply low.”

Jonathan Graber

 The freestanding Sprint is located at 3432 W. Kennedy Blvd. between Dale Mabry Highway and S. MacDill Ave. The telecommunications holding company serves more than 55 million customers and is a global 100 company.

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

           Kelsy Pazur
813 839 7300 ext. 337  

MG Properties Group Completes More Than $80 Million In Multi-Family Acquisitions in California

Sterling Village, Vallejo, CA

Mark Gleiberman
San Diego, CA –MG Properties Group, a private San Diego-based real estate investor and operator, has announced the acquisition of four multi-family properties in California totaling 770 units.

 “These acquisitions are an extension of the company’s strategy of growth throughout the western United States in markets where it has a long operating history and benefits from efficiencies of scale due to its existing portfolio,” according to Mark Gleiberman, MG Properties Group’s President.

 “As active value-add operators with a long-term investment horizon, each of these acquisitions has a unique fit within our existing portfolio and they are good examples of the types of compelling investment opportunities we are seeking in today’s market,” Gleiberman adds.

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

HFF named to market for sale The Shoppes at Chino Hills in Chino Hills, CA

The Shoppes at Chino Hills, Chino Hills, CA

Bryan Ley
IRVINE, CA - HFF announced today that it has been named to market for sale The Shoppes at Chino Hills, a 388,000-square-foot, trophy lifestyle center located in Chino Hills, California.

HFF is marketing the property on behalf of the seller, a private Southern California-based investment group.  HFF handled the prior sale of this property in 2010 from a bank consortium group led by Bank of America to the current owner.

The Shoppes at Chino Hills was originally developed by Opus West in 2008.  Located at 13800-13920 Village Center Drive in Chino Hills, the property is part of a larger master-planned project that includes the Chino Hills Civic Center, Chino Hills City Hall, Chino Hills Police Station and the public library.

 The 94 percent leased property was designed by Altoon + Porter architects and is anchored by XXI Forever, H&M, Trader Joes, Banana Republic, Victoria's Secret and Barnes & Noble.

The HFF investment sales team representing the seller is led by senior managing director Ryan Gallagher, managing director Bryan Ley and associate director CJ Osbrink.

Ryan Gallagher
“This is a true trophy asset with enormous curb appeal and a great line-up of tenants.   It is centrally located and well known within the region as a top tier shopping destination,” said Gallagher.

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 |

PM Hospitality Strategies Opens First Westin in Delaware

Westin Wilmington

 WILMINGTON, DE, April 17, 2014—Officials with PM Hospitality Strategies (PMHS), a leading, national hotel management company, along with officials from a joint venture ownership group comprised of Buccini/Pollin Group and Westport Capital, today announced that the 180-room Westin Wilmington will open April 17.

Joseph Bojanowski
Connected to the Chase Center on the Riverfront in Delaware, the hotel is the first Westin-branded hotel in the state and the first new-build hotel in Wilmington since 1980.  PMHS will operate the hotel under a long-term agreement.

            "The opening is another important step in the revitalization of Wilmington's riverfront, and we are delighted to play a role," said Joseph Bojanowski, president of PMHS.

 "This project has allowed us to showcase all of our management skills from planning to brand selection, from construction oversight to pre-opening.  With the opening of this four-star hotel, Wilmington and the Chase Center are well positioned to be major players in the meetings and convention industry in the Mid-Atlantic region.” 

            “The new Westin may well be the most important Wilmington project in recent memory," said Michael Purzycki, executive director of the Riverfront Development Corporation of Delaware, the state-funded, non-profit corporation which owns and operates the Chase Center. 

Michael Purzycki
 "A catalyst for Chase Center business, it is a symbol of Riverfront’s dynamic future, and surely will further enhance Wilmington’s reputation as an attractive, regional visitor destination.”

“We are thrilled to debut Westin Hotels in Wilmington’s dynamic Riverfront district, which has been transformed into a leading entertainment and cultural center,” said Brian Povinelli, Global Brand Leader for Westin Hotels & Resorts and Le Meridien. 

“Business and leisure travelers are invited to recharge and revitalize at The Westin Wilmington with the help of all the Westin brand’s signature programs and amenities, designed to send them home feeling better than when they arrived.”

The hotel's full-service restaurant, River Rock Kitchen, serving locally sourced and seasonally selected small plates, is led by chef David Lattomus and also will offer the Westin brand’s signature SuperFoodsRX® menu.

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

Chris Daly, Jerry Daly
 (703) 435-6293