City Council Approves Shopoff Realty Investments’ 38-Unit Luxury Townhome Project in Oceanside, CA

  

William Shopoff

IRVINE, CA -- Shopoff Realty Investments announced that a 2.36-acre former mobile home park will be developed into a luxury townhome community after receiving approval by local City Council Jan. 21.

Located in southern Oceanside, Calif., near Buccaneer Beach and Sprinter Station, the project was unanimously approved by Oceanside’s Planning Commission on November 4, 2014.

 Situated on the northeast corner of Morse Street and Pacific Coast Highway, the development will include 38 three-story townhomes, elevated to allow for panoramic ocean views.

Each unit is designed with an individual entry and private patio or balcony. Units range from 1,581 to 1,851 square feet and include two-car garages.

“We are pleased to have received approval to develop this site with a design that is in harmony with the neighborhood,” said William Shopoff, president and CEO of Shopoff Realty Investments.

Brian Rupp

 “I appreciate the effort and input by our neighbors and city staff, as well as the members of the planning commission and city council who worked with us throughout the process.”

“Our team has worked very hard to make sure we were presenting the best site plan for the community,” said Shopoff Realty Investments’ Vice President, Development Brian Rupp.

“With a contemporary architectural style and substantial landscaped areas these high end townhomes will be a great addition to the neighborhood.”

 Planning Commission Chairman Robert Neal indicated, “We try to get upscale projects, and this is one of them.”

  

 For additional information, please visit www.shopoff.com or call (844) 4-SHOPOFF.

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

Julie Leber

Spotlight Marketing Communications

949.427.5172, ext. 703

509-338-5676 - cell

julie@spotlightmarcom.com

Hold-Thyssen Negotiates $1.84 Million Sale of Albors Building in Winter Park

Darby Hold

WINTER PARK, FL --- Hold-Thyssen, Inc. recently closed the sale of the Winter Park Albors Building at 5971 Brick Court to Trinity Preparatory School of Florida for $1,840,000. 

 Trinity Preparatory School – rated one of Orlando’s best private schools – acquired the 11,912 square foot office building which is adjacent to their Winter Park property for future expansion.

 Darby Hold and Monroe Booth, transaction specialists at Hold-Thyssen, Inc., brokered the transaction representing the seller, Albors Properties, LLC.   Christopher Gardner with Condev Realty, LLC represented the buyer.

Albors Building, 5971 Brick Court, Winter Park, FL

Hold boosted occupancy of the Albors Building to 75 percent prior to putting it on the market.   

  Major tenants include, Integrative Counseling & Wellness, LLC,  KOI Counseling LLC, Albors & Alnet Languages and Transportation,  Beringer Accounting, the Wayne Leland CPA firm and John Barrett Insurance.

Hold-Thyssen, Inc. provides commercial property and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States.

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.

Southington, CT Apartment Building Sells for $4.1 Million; Northeast Private Client Group Represents Buyer and Seller

  

Bradley Balletto

BRIDGEPORT, CT – Investment sales broker Northeast Private Client Group has announced the sale of Pine Meadows Apartments, a 36-unit multifamily property at 970 South Main Street in Southington, CT.

 Bradley Balletto, the firm’s regional manager, and Taylor Perun, licensed associate in the firm’s Connecticut office, represented the seller and the buyer in the $4,100,000 transaction, which closed on January 29. 

“The success of this transaction is the direct result of our relationship approach to investment sales,” said Mr. Balletto.  

“With our regional brokerage platform, we were able to create tremendous competition for this asset among highly qualified buyers from Boston to New York.”

Taylor Perun

Pine Meadows Apartments is comprised of three buildings with 10 one-bedroom and 26 two-bedroom floor plans.  

Unit features include balconies or patios, washer and dryer hookups, central A/C and covered parking.  Amenities include an elevator, a gazebo and park-like grounds, all within walking distance of local shopping and restaurants.

The seller, Pine Meadows Home Associates, was the developer of the property and benefitted from a strong local rental market during more than a decade of ownership.  

The buyer, Detail Management, purchased the property for a price that equates to nearly $114,000 per unit, which represents a capitalization rate of 6.7% on the current net operating income.

“High occupancy and growing rents continue to drive strong demand for multifamily properties,” said Taylor Perun.  “The Connecticut investment sales market is as active as I’ve seen it.”

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

Randy Savicky

Founder/CEO

Strategy+Communications

Connecting the New PR & Marketing to Business Goals

www.strategypluscommunications.com

203-226-6156

Wyndham Hotel Group Acquires Dolce Hotels and Resorts

Geoff Ballotti

PARSIPPANY, NJ – Wyndham Hotel Group, a subsidiary of Wyndham Worldwide (NYSE: WYN), announced it has acquired Dolce Hotels and Resorts, a leading provider and manager of group accommodations with a portfolio of 24 properties and over 5,500 guestrooms across seven countries in Europe and North America, for $57 million in cash.

  

“Dolce is a terrific strategic fit for us,” said Geoff Ballotti, president and CEO, Wyndham Hotel Group.

 “With over three decades of established brand equity, Dolce is a respected leader in the group space with outstanding destination properties and some of the best meeting product offerings available in the market today.

“ In addition, Dolce has a long, successful history of award-winning innovation in conference planning and management.

“We look forward to continuing the growth of the Dolce brand and leveraging these Dolce attributes across the Wyndham global system while enhancing the Dolce owner and guest experience.”

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

Michael Valentino

Vice President, Marketing and Communications

Wyndham Worldwide Corporation

+1 (973) 753-8372

michael.valentino@wyn.com

MBA Releases 2014 Year-End Commercial/Multifamily Servicer Rankings

SAN DIEGO, CA – The Mortgage Bankers Association (MBA) today released its year-end ranking of commercial and multifamily mortgage servicers’ volumes as of December 31, 2014. 

At the top of the list of firms is Wells Fargo with $474.4 billion in U.S. master and primary servicing, followed by PNC Real Estate/Midland Loan Services with $396.8 billion, Berkadia Commercial Mortgage LLC with $236.3 billion, KeyBank National Association with $174.4 billion, and GEMSA Loan Services, L.P. with $101.3 billion.

Wells Fargo, PNC/Midland, KeyBank, and Berkadia are the largest master and primary servicers of commercial/multifamily loans in U.S. commercial mortgage backed securities (CMBS), collateralized debt obligations (CDO) and other asset-backed securities (ABS).

Prudential Asset Resources, PNC/Midland, GEMSA, and MetLife are the largest servicers for life companies; PNC/Midland, Wells Fargo, Walker & Dunlop, LLC, and Berkeley Point Capital, LLC are the largest Fannie Mae servicers; Wells Fargo, PNC/Midland, KeyBank National Association, and GEMSA are the largest Freddie Mac servicers.

PNC/Midland ranks as the top master and primary servicer of commercial bank and savings institution loans; of loans for the credit companies, pension funds, real estate investment trusts (REITs), and investment funds; and of loans for FHA and Ginnie Mae.

  Wells Fargo is the top servicer for loans held in warehouse facilities.  Berkadia is the top for other investor type loans.

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

Rob Van Raaphorst

rvanraaphorst@mba.org

(202) 557-2799

CHM and Warnick + Company Merge to Form CHMWarnick

Chad Crandell

 LOS ANGELES, CA --  Chad Crandell, Richard Warnick and Ken Wilson announced the formation of CHMWarnick, the world’s largest hotel asset management company.

The new company is the result of a merger between two of the lodging industry’s most respected and successful hotel asset management and advisory firms: CHM and Warnick + Company. 

The new company will provide a full complement of hotel business advisory services proven to enhance hotel value and investment returns including asset management, operational assessment and strategic development advisory from offices in Boston, Denver, Los Angeles, Minneapolis, New York and Phoenix.

"As the industry continues to increase in complexity, hotel investors have come to appreciate that experienced, unbiased industry experts can have a material positive impact on their business… from development or acquisition, through disposition – and all points in between,” said Warnick. 

Richard Warnick

“As we each looked for opportunities to provide our clients with best-in-class asset management and advisory services, it became abundantly clear that the best strategy was to combine our two firms.  Doing so allows us to capitalize on our collective knowledge and experience in a truly national platform.

 “Our end game is to be the top-of-mind, first choice for owners seeking professional hotel asset management and value creating advisory services.”

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

Chris@dalygray.com

Berger Commercial Realty Broker Jonathan Thiel Closes Sale of Dania Beach, FL Building

Jonathan Thiel

FORT LAUDERDALE, FL  - Berger Commercial Realty Sales Associate Jonathan Thiel recently closed the sale of a 1,340-square-foot, single-story building located at 4151 Ravenswood Road in Dania Beach.

Thiel represented Spin Holdings, LLC, who sold the mixed-use property for $222,500 to Marine Consulting, Inc. Previously used as a union hall, the building is zoned for office and retail and could be used as a school, medical facility, church, restaurant, daycare or bank.

 Thiel specializes in REO sales as well as the leasing and sales of office, retail and industrial properties.

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