Southern Lodging Summit to Host 13th Annual Conference Aug.18 in Memphis, TN

  

 

Chuck Pinkowski

MEMPHIS, TN—Officials of the Southern Lodging Summit, an annual gathering of hoteliers specializing in development and operations in the southern United States, announced it will host its 13th annual conference August 18-19 in Memphis, Tenn.

 “While we enjoy our standing as one of the best kept secrets in the hospitality industry, we’ve decided to shed some of that anonymity this year by offering attendees an opportunity to combine a bit of entertainment with their education,” said Chuck Pinkowski, owner of Pinkowski & Company and conference co-founder.

 “Once again, we have secured some of the top names in hospitality to opine on the state-of-the-industry while providing ample opportunities to network with peers.

“ Contrary to popular opinion, we believe the 13th might just be our ‘luckiest’ yet, as evidenced by the pronounced and continued optimism the industry is experiencing right now.”

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

Chris Daly, media

(703) 435-6293

chris@dalygray.com

Two Suburban CT Multifamily Properties Sell for $2.9 Million; Northeast Private Client Group Represents Buyers and Sellers

Bradley Balletto

SHELTON, CT, July 17, 2015 -- Investment sales broker Northeast Private Client Group has announced the sale of two suburban multifamily properties located in Cheshire and Greenwich, CT. 

Bradley Balletto, the firm’s regional manager, and David Almeida, senior associate in the firm's Connecticut office, represented the sellers and the buyers in the two transactions, which closed on June 3 and June 30, respectively. 

“The demand for smaller suburban multifamily is particularly strong among private investors," said Edward Jordan, JD, CCIM, the firm’s managing director.  "Our multi-state platform delivered highly competitive pricing for these two suburban assets.”

The Cheshire, CT, property, located at 122 Country Club Road, comprises 16 two-bedroom apartment units and 10 garages with tenant-paid utilities.  The seller was a private investor based in Norwalk, CT. 

David Almeida

The buyer is a private investor based in Shelton, CT.  The property sold for $1,475,000, a price that equates to more than $92,000 per unit and represents a capitalization rate of 7.0% on the current net operating income. 

The Greenwich, CT, property, located at 307 Hamilton Avenue, comprises five apartment units in two brick buildings with landlord-paid utilities.  The seller was a New York-based real estate investment fund.  The buyer is a private investor based in New York. 

The property sold for $1,400,000, a price that equates to $280,000 per unit and represents a capitalization rate of 6.1% on the current net operating income.

“Importing capital from outside the immediate area drives higher pricing for sellers and benefits buyers as well,” said Mr. Balletto.  “New York-based buyers enjoy higher returns in Fairfield County, and Fairfield County buyers look for better yields in New Haven County.”

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

Randy Savicky

Founder/CEO

Strategy+Communications

Concierge Public Relations Services

www.strategypluscommunications.com

203-226-6156