Taylor & Mathis Orlando Announces a Lease and Expansion in Longwood, FL

  

Damien Madsen

 ORLANDO, FL -- Damien Madsen, Principal of Taylor & Mathis Orlando announced today the completion of an Office Lease in Longwood, FL.

Damien Madsen recently renewed & expanded the Lease for the WastePro Headquarters in The Springs Office Building located in Longwood, FL. 

  This transaction totals close to 15,000 square feet encompassing nearly the entire 2nd and 3rd floors of the building.

 Taylor & Mathis is a diversified real estate company specializing in the development, marketing and management of office buildings, suburban office parks, industrial parks and mixed-use projects.

Founded in 1967, the company has developed properties exceeding $1.9 billion in value and has established itself as one of the most respected regional real estate firms in the United States.

Based in Atlanta, with offices in Tampa, Miami, Sunrise and Orlando, Taylor & Mathis concentrates its business activity in primary growth markets in the southeastern United States. For more information, visit www.TaylorMathis.com.

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

Buffy Gillette (407) 622.6699

Chatham Lodging Announces Monthly Dividend

PALM BEACH, FL—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale extended-stay hotels and premium branded select-service hotels, announced that its board of trustees has declared a monthly common share dividend of $0.08 for October 2014. 

The common dividend is payable November 28, 2014, to shareholders of record on October 31, 2014

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

Chris Daly

Daly Gray Public Relations

chris@dalygray.com  

(703) 435-6293  

Balfour Beatty Construction team successfully completes third project for Muscogee County School District in Columbus, GA

Dorothy I. Height Elementary School
Muscogee County School District
Columbus, GA

ATLANTA, GA Balfour Beatty Construction/Freeman & Associates, a joint venture partnership, announces the completion of Dorothy I. Height Elementary School for the Muscogee County School District in Columbus, Ga.

The school is the third project the Balfour Beatty/Freeman team has completed for Muscogee County. 

The $17.5 million school, funded by Special Purpose Local Option Sales Tax (SPLOST,) was completed on time for the start of the 2014-2015 school year.

The new facility totals more than 91,000 square feet, including a media center, art room, two computer labs, music room, special education classroom, speech and visually impaired classroom, gymnasium, cafeteria, kitchen, and administration offices.

Mike Macon

“This is the third school we have completed for Muscogee County over the past two years,” said Mike Macon, vice president for Balfour Beatty’s East region.

 “We are proud to continue our long-standing and valued partnership with the school district. We feel connected to the community and share in their excitement and sense of pride. It is inspiring to be part of a project that will open new doors to success for students, teachers, and staff.”

Design services were provided by Hecht Burdeshaw Architects. The project is pending LEED Certified Accreditation.

Dorothy I. Height is the 32nd elementary school for the district, replacing Cusseta Road and Muscogee

Elementary Schools. Previously, the Balfour Beatty/Freeman team completed Aaron Cohn Middle School in 2013 and George Washington Carver High School in 2012.

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

Savannah Duncan • The Wilbert Group

1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309

O: 404-343-0870  • M: 404-901-4433

www.thewilbertgroup.com

HFF closes sale of and arranges financing for Alta Alameda Station in Denver, CO

  

Jordan Robbins

 DENVER, CO – HFF announced it has closed the sale of and arranged acquisition financing for Alta Alameda Station, a 338-unit, Class AA, LEED Gold, urban infill apartment property in Denver, Colorado.

                HFF marketed the property on behalf of the seller, a joint venture between Wood Partners, LLC and CBRE Global Investors.  IMT Capital purchased the asset for an undisclosed amount.

 HFF also arranged a five-year, 2.054 percent floating-rate loan on behalf of the buyer through Freddie Mac (Federal Home Loan Mortgage Corporation).  The loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.

                Alta Alameda Station is located at 275 South Cherokee Street to the south of downtown Denver and within walking distance to the Alameda light rail station and bus stop.

Jeffrey Haag

 Completed in 2014, the property includes one-, two- and three-bedroom units averaging 909 square feet each.  Community amenities include a seasonal swimming pool and hot tub, rooftop deck with full kitchen and fireplace, fitness center with cardio room and yoga studio, bike/ski shop, electric vehicle charging stations, dog wash, clubroom and cyber café.  

The property was 93 percent leased at the time of sale.

                The HFF team representing the seller was led by director Jordan Robbins, associate director Jeff Haag and real estate analyst Jared Buffington.

HFF’s debt placement team was led by senior managing director Mike Kavanau, associate director Trent Niederberger and director Josh Simon. 

                “Alta Alameda Station is a true Class AA TOD property located within one of Denver’s most desirable rental areas and draws a very high quality tenant base seeking the area’s best amenity package. The property’s lease-up was extremely successful and the new buyer has purchased an extremely unique property,” commented Robbins.

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

Olivia Hennessey

Public Relations Coordinator

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

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

San Diego County, CA Multifamily Property Sells for $11.1 Million

Castle Park Garden Apartments, Chula Vista, CA

CHULA VISTA, CA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Castle Park Garden, a 70-unit apartment property featuring a 62-unit building with eight adjacent units.

Located in Chula Vista, Calif., the property sold for $11,100,000, which equates to $158,571 per unit.

Christopher Zorbas, first vice president investments, and Jorge Jimenez, senior associate, both in Marcus & Millichap’s San Diego office, represented the seller, The Kreutzkamp 2000 Revocable Trust with Charles F. Kreutzkamp as trustee.

Christopher Zorbas

 The buyer, Mark II LP, was also represented by Zorbas and Jimenez. The managing member for Mark II LP is Mark Covarrubias. 

The 62-unit portion of Castle Park Garden is located at 272 Kennedy St. and the remaining eight units are next door at 251 Oxford St. The property features 32 one-bedroom/one-bath units, 30 two-bedroom/one-bath apartments, seven two-bedroom/two-bath units and one four-bedroom/two-bath apartment.

Amenities include laundry facilities, a playground area and 100 surface parking spaces

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

Gina Relva

Public Relations Manager

Marcus & Millichap

(925) 953-1716

Tampa Bay-Area Multifamily Complex Sells for $18 Million

Bay Pointe Apartments, Largo, FL

LARGO, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Bay Pointe Apartments, a 417-unit apartment complex in Largo, Fla.

The $18 million sales price equates to $43,165 per unit. Francesco Carriera and Michael Regan, vice presidents investments in Marcus & Millichap’s Tampa office, represented the seller and the buyer.

“Bay Pointe Apartments is located within a 10-minute drive of two of Clearwater’s key business districts, Gateway and Carillon,” says Carriera. “Average apartment occupancy in the area is 96 percent. Largo received a 5.1 percent increase in occupancy between the second quarter of 2013 and the second quarter of 2014,” adds Carriera. “This was the highest increase in all of the Tampa Bay Area’s submarkets.”

Francesco Carriera

“The complex is well positioned to display strong performance in the immediate future and will grow in the long term by taking advantage of the area’s improving market and quarterbacking off the development of new Class A multifamily product in the immediate area,” notes Regan.

 Bay Pointe Apartments are located on approximately 21 acres at 2770 Roosevelt Blvd. in Largo, Fla., four-tenths of a mile east of U.S. Highway 19 and within two miles of the St. Petersburg-Clearwater International Airport. 

The property features 52 two-story residential buildings, a one-story laundry facility and a one-story leasing office and laundry facility. 

The unit mix is 240 one-bedroom/one-bath apartments and 177 two-bedroom/one-bath units. 

In 2013, the property received exterior capital improvements that included new roofs on two buildings, the replacement of nine staircases, the repainting and resealing of the parking lot and new paint on 12 of the residential buildings. 

Select first floor unit interiors received new vinyl flooring. Shared amenities include a tennis court, a business center and two swimming pools.

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

Gina Relva

Public Relations Manager

Marcus & Millichap

(925) 953-1716

$38.5 Million Construction Loan Arranged in Tracy, CA by Marcus & Millichap Capital Corp.

Jeffery Shaddy

TRACY, CA – Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has arranged $38,500,000 in construction financing for 300 multifamily units in Tracy, a city in the Central Valley of Northern California.

Jeffery Shaddy, director in MMCC’s Sacramento office, arranged the financing.

            “MMCC brought national resources to this local project to create a competitive financing market and win the business,” says Shaddy.

 “From our large regional data base and market resources we provided a preponderance of market economics and demographics, land and building costs, rent per unit and per square foot, occupancy, detailed line item expenses, sales capitalization rate and price per square foot comparisons to achieve more than a 33 percent increase in NOI and value from the appraisal firm.

“The borrower desired little or no recourse and requested higher LTC leverage and we sourced a lender who could meet these terms,” Shaddy concludes. The three-year interest-only loan has two one-year extension options, a one month LIBOR-based adjustable interest rate, 25 percent recourse and a loan-to-cost of 70 percent.

Aspire Apartments, Tracy, CA 

            For more information, contact Jeffrey N. Shaddy, director, debt & structured finance, at 925-549-5000 

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

Gina Relva

Public Relations Manager

Marcus & Millichap Capital Corp.

(925) 953-1716

Jeffrey.Shaddy@MarcusMillichap.com.

Marcus & Millichap Names Benjamin Silver an Associate Vice President Investments in Fort Lauderdale, FL Office

Benjamin Silver

FT. LAUDERDALE, FL– Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced that Benjamin Silver has been promoted to associate vice president investments in the Ft. Lauderdale office, according to Ryan Nee.

            “It’s an honor to recognize Ben as one of our top investment professionals,” says Nee. “His commitment to providing superb client service to an array of private and institutional investors and his track record of closing high-profile property sales, exemplifies the role of an associate vice president investments at Marcus & Millichap.”

Silver began his career at Marcus & Millichap in October 2007 as an associate in the Miami office. In June 2013, he moved to the Ft. Lauderdale office and was promoted to senior associate in March 2012.

 He is a director in the firm’s National Office and Industrial Properties Group (NOIPG), specializing in the acquisition, disposition, and exchange of office and industrial properties throughout South Florida.  During his career, Silver has arranged more than $220 million in office property transactions.

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

Gina Relva

Public Relations Manager

(925) 953-1716