HFF secures $28.17 million construction financing for development of Embassy Suites hotel in Amarillo, TX

Rendering of planned Embassy Suites hotel, Amarillo, TX

Travis Andeerson

DALLAS, TX – Nov. 23, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $28.17 million in construction financing to develop the 225-room, full-service Embassy Suites hotel to anchor the Civic Center redevelopment in Amarillo, Texas.   

HFF worked on behalf of the developer, NewcrestImage, to secure the financing through Southwest Bank, the largest locally-owned bank in Fort Worth, Texas.

Located at the intersection of 6th Avenue and Buchanan Street, the 200,000-square-foot Embassy Suites hotel will be part of the planned improvements in downtown Amarillo that surrounds Amarillo’s Civic Center, a multi-purpose convention center that will also include retail, a parking garage and an entertainment venue/ballpark.

 Amarillo is the 14th largest city in Texas and the largest city in the Texas Panhandle.  The all-suite, Hilton-branded hotel will feature 30,000 square feet of meeting and function space, 300 parking spots in an adjacent garage for the exclusive use of the hotel, lounge and lobby bar, pool, fitness center and full-service restaurant for breakfast, lunch and dinner.  The hotel is expected to be complete in 2017.

The HFF debt placement team representing the borrower was led by senior managing director Travis Anderson and director Jim Curtin.

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

www.newcrestimage.com.

HFF secures $38.87 million acquisition financing for SeaTac Office Center in Seattle, WA

SeaTac Office Center, 17900, 17930 and 18000 Pacific Highway South,
15 miles south of Seattle in SeaTac, WA 

Bruce Ganong

PORTLAND, OR – Nov. 23, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $38.87 million in acquisition financing for SeaTac Office Center, a 538,979-square-foot office complex immediately adjacent to SeaTac International Airport in the Seattle, Washington area. 

Working on behalf of a joint venture between Urban Renaissance Group and Iron Point Partners, HFF placed the floating-rate bridge loan with Bank of America.  Additionally, HFF was involved in the $47.1 million sale of the property, representing the seller, ScanlanKemperBard Companies.

SeaTac Office Center is a three-building, high-rise office campus that is 63 percent leased to multiple tenants including national credit tenants and governmental agencies. 

The property features a fitness facility with showers and lockers, and a full-service deli and restaurant as well as views of Mount Rainier and the Olympic Mountains.  The buildings are located at 17900, 17930 and 18000 Pacific Highway South, 15 miles south of Seattle in SeaTac. 

The transit-oriented location provides tenants access to the adjacent Link Light Rail, Metro Bus Rapid Transit and nearby vehicular arteries including Interstate 5 and Highway 99.  

HFF’s debt placement team representing the borrower was led by senior managing director Bruce Ganong and associate director Erica Christensen.

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

Lincoln Harris Brokers Four Leases Totaling 12,203 Square Feet at the SouthCourt Building in Durham, NC

Kaler Walker

 RALEIGH, N.C. (Nov. 23, 2015) — Lincoln Harris’ Raleigh office has brokered four leases totaling 12,203 square feet at the SouthCourt building, located at 3211 Shannon Road in Durham, North Carolina.

 Kaler Walker and John Mikels of Lincoln Harris represented the landlord in the transactions. The details of the transactions are below:

·      Merrill Lynch signed a 9,116-square-foot lease renewal. Heath Chapman of CBRE-Raleigh, in conjunction with Ann-Fleming Powell of Lincoln Harris, represented the tenant.

  BluePrint Hair Design signed a 1,494-square-foot lease.

•   Sandy Winchester Salon signed a 560-square-foot lease renewal.
• ·      Walker Holdings Group, LCC signed a 1,033-square-foot lease renewal.

The six-story SouthCourt building includes 131,000 square feet of Class A office and retail space. Amenities include a landscaped courtyard with a water feature, cherry wood paneling, granite finishes, and a two-story lobby.

The landlord recently completed a full building common area renovation as well as a parking lot renovation at the property. Blue Cross Blue Shield has also recently begun moving into the three floors they signed a lease for earlier this year, bringing this building to 95% occupancy.

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

Savannah Duncan

The Wilbert Group

404-343-0870 (O) 404-901-4433 (C)

sduncan@thewilbertgroup.com

St. Regis Hotels & Resorts Debuts in Dubai

St. Regis Dubai Hotel, Dubai, United Arab Emirates

Michael Wale

DUBAI, United Arab Emirates, Nov. 23, 2015 – St. Regis Hotels & Resorts, part of Starwood Hotels & Resorts, Inc., today announced the debut of the St. Regis brand in Dubai with the opening of The St. Regis Dubai.

Owned by Al Habtoor Group, the hotel introduces uncompromising experiences with its luxurious bespoke hospitality, eight exceptional culinary venues, the first Iridium Spa in Dubai, a fleet of Bentleys as well as the first Bentley Suite in the Middle East which will be unveiled in early 2016.

 “We are proud to partner with Al Habtoor Group and to launch Starwood’s largest hospitality project in the region as we open the first of three hotels in this prestigious development,” said Michael Wale, President, Starwood Hotels & Resorts, Europe, Africa and Middle East.

 “The entry of our ultra-luxury St. Regis brand in this important market strengthens Starwood’s presence in the United Arab Emirates as we remain on track to double our portfolio in the region by 2019.”

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

 Hwee Peng Yeo

Vice President, Asia Markets

Glodow Nead Communications

Asia: 65.9768.6087  US:415.394.6500 • E: hweepeng@glodownead.com

www.GlodowNead.com

Mortgage Bankers Association Opens Doors Announces Major Donation from Arch Capital Group

Debra  Still

WASHINGTON, DC (November 23, 2015) – The Mortgage Bankers Association Opens Doors Foundation (MBA Open Doors) today announced that Arch Capital Group Ltd. (Arch Capital), has made a very generous contribution.

MBA Opens Doors is a non-profit organization dedicated to providing assistance to families with a critically ill or injured child by making their mortgage or rent payment.

Arch Capital’s generous donation has earned them recognition as an Opens Doors Foundation Guardian and is the largest single donation in Foundation history.

"On behalf of everyone working with the MBA Opens Doors Foundation, I want to thank Arch Capital for this generous donation," said Debra Still, CMB, Chairman of the MBA Opens Doors Foundation and President & CEO of PulteMortgage.

“From reading the grant applications each month, I have seen how lives are touched by Opens Doors. Through the support of Arch Capital and others, our industry is making a profound impact on those who receive the grants, giving families with critically ill or injured children the gift of spending precious time together."

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

Ali Ahmad

aahmad@mba.org

(202) 557-2727

The Habitat Company Expands Property Management Portfolio 18 Percent with Addition of 3,600 Units in Alabama

                                                                                 

Matthew Fiascone

CHICAGO, IL (Nov. 23, 2015) – The Habitat Company, a leading multifamily property developer and manager, announced it has been selected by Goff Capital Partners as property manager for seven individual market-rate properties in Birmingham, Alabama and the surrounding area.

Chicago-based The Habitat Company also serves as property manager for four other properties owned by Goff Capital Partners, totaling more than 2,000 units located in Ann Arbor, Michigan, St. Louis, Missouri and Tampa, Florida.

The assignment expands Habitat’s management portfolio by more than 3,600 apartments, bringing the total number of units under Habitat’s management to more than 23,000.

“This engagement demonstrates the importance of long-term, trusted relationships and the value in living up to our commitment to provide excellent service to both property owners and community residents alike, a hallmark of Habitat,” said Matt Fiascone, president of The Habitat Company.

“Not only does this expanded partnership with Goff grow Habitat’s portfolio by nearly 18 percent, it adds 90 members to our team and serves as our entry into the competitive Birmingham market.”

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

Cara Mooses, cmooses@taylorjohnson.com, 312.267.4523

1200 S. Indiana in South Loop Approved by Chicago Plan Commission for 76-Story Apartment Tower Designed by Rafael Viñoly

Bruce A. Menin

 CHICAGO, IL – The Chicago office of Crescent Heights® announced S Loop Chicago Development, LLC has received approval from the Chicago Plan Commission for the first phase of 1200 S. Indiana, a three-phase residential development located at the southwest corner of Grant Park in the heart of Chicago’s South Loop neighborhood.

Formerly referred to as 113 E. Roosevelt, the first phase of 1200 S. Indiana is a 76-story, 829-foot rental tower designed by Rafael Viñoly Architects, which is slated to become one of the tallest residential buildings in Chicago. 

“1200 S. Indiana will offer residents not only a marquee address, but also breathtaking views in every residence, from those overlooking iconic Grant Park, to the cityscape, to Lake Michigan,” said Bruce A. Menin, principal at Crescent Heights®.

“We are grateful for the support this project has received from Alderman Pat Dowell as well as the community, and are incredibly fortunate to have secured Rafael Viñoly for this important site.” 

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

Julie Liedtke, jliedtke@taylorjohnson.com, (312) 267-4521

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

Kelly Henderson Rejoins WNC as Senior Vice President of Originations for the Northeast

Kelly Henderson

IRVINE, Calif., Nov. 23, 2015 – WNC, a national investor in real estate and community development initiatives, announced today that Kelly Henderson, Esq., a seasoned affordable housing professional with 16 years of experience, has rejoined the firm as senior vice president of originations, responsible for the Northeast region. 

Henderson previously spent nine years with WNC, from 2006 to early 2015, as senior vice president in acquisitions.

In her new role, Henderson is responsible for property acquisitions and closings in the Northeast, including the states of Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont, as well as Washington, D.C. 

The company’s existing Northeast portfolio includes 136 affordable housing projects with 11,827 units that have a total development cost of approximately $771.2 million.

Henderson will play a significant role in providing service to WNC’s northeastern clients, as well as developing new relationships with developers in the region.

Will Cooper Jr.

“We’ve always sought to provide the highest quality of services to our partners,” said Will Cooper Jr., president and chief executive officer of WNC.

 “Our success is directly related to our ability to attract talented people that come to WNC to make a difference. 

"Kelly exemplifies this in our culture and we are excited to have her join our team as a senior originator building relationships with affordable housing developers in this important market.”

Prior to joining WNC originally in 2006, Henderson served as vice president, director of acquisitions for a national tax credit syndication firm, responsible for all aspects of closing low-income housing tax credit (LIHTC) transactions. 

She is a licensed attorney, earning her juris doctor degree from the New England School of Law. Henderson earned a bachelor’s degree from the State University of New York at Geneseo.

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

Julie Leber

Spotlight Marketing Communications

949.427.5172, ext. 703

julie@spotlightmarcom.com

www.wncinc.com.

Arbor Appoints Linda Gorbenko as Director, FHA in Long Beach, CA, Office

 

Linda Gorbenko

UNIONDALE, NY (Nov. 23, 2015) - Arbor Commercial Mortgage, LLC (“Arbor”), a national, direct commercial real estate lender, today announced the appointment of loan originator Linda Gorbenko as Director, FHA in the company’s Long Beach, CA, office.

She is responsible for originating multifamily financing utilizing all of Arbor’s diverse loan product offerings including FHA, Fannie Mae, Freddie Mac, CMBS, Bridge, Mezzanine and Preferred Equity. 

Ms. Gorbenko has more than 18 years of experience and has originated more than $1.7 billion in loan transactions during her career while also playing a contributory role in helping to close an additional $1.9 billion in loans.

Prior to Arbor, she was an Executive Director at CIBC where she originated short- and long-term, fixed- and floating-rate financing transactions. She also spent 16 years at GE, where she worked her way up from Associate to Senior Director in the company’s Los Angeles office.

Ms. Gorbenko earned her Masters of Business Administration from SDA Bocconi in Milan, Italy. She also graduated magna cum laude from California State University, Fullerton, earning a Bachelor of Arts with a concentration in finance.

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

Christopher Ostrowski

costrowski@arbor.com

Holiday Inn Port of Miami sells for $65M to developer of World Trade Center of the Americas

  

Larry Stockton

MIAMI, FL (Nov. 23, 2015) – The Holiday Inn Port of Miami has sold for $65 million, capping an 18-month-long process with a closing on Friday, Nov. 20.

The property sold to 340 Biscayne Owner, LLC, an entity run by Gilberto Bomeny, the developer of the proposed World Trade Center of the Americas, a mixed-use project expected to be built on the site.

Larry Stockton, Senior Vice President, and Jeff Resnick, Senior Associate, with Colliers International South Florida brokered the transaction between the buyer and the seller, Marina Park Inn, LLC.

“The beauty of this site is that the hotel earns over $5 million in annual net operating income, which gives the developer the flexibility to develop the site when he sees fit since it carries itself as-is,” said Colliers’ Stockton.

Jeff Resnick

The proposed World Trade Center of the Americas is a 77-story mixed-use project which is planned to include 400 condos, 240 hotel rooms, 270,000 square feet of retail and 246,000 square feet of office space, according to the Miami Herald. The site plans have been approved by the City of Miami’s Urban Design Review Board.

The Holiday Inn is located at 340 Biscayne Blvd. in Miami and is 1.1 miles from the Port of Miami.

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

Leah Saunders 

Senior Account Executive

B2 Communications

p 727.895.5030 x104 | c 813.924.0367

www.B2Communications.com