Monday, November 30, 2015

NAI Realvest Negotiates Two Sales of Vacant Commercial Land in Lake Mary, FL and Orlando, FL

Mary Frances West
ORLANDO, FL. – NAI Realvest recently represented sellers and closed on two sales of vacant commercial land – one parcel in Lake Mary and one in Orlando – for more than $700,000.

Michael Heidrich, principal at NAI Realvest, represented NOS Investments, LLC of Orange City in negotiating the sale of a 1.22-acre office lot for $500,000.   The property, located at 920 Williston Park Point in Lake Mary, was purchased by C.W. Harkins Corp. of Lake Mary, represented by Mark Harkins.

Mary Frances West, CCIM, NAI Realvest’s senior broker associate, represented Tampa-based Sellers Lori Lacy Griffith Trust and Jewel K. Ussery Trust in the sale of 1.47 +/- acres of vacant land at 3650 Old Winter Garden Rd. in Orlando.   Buyer CL Green Inc. of Windermere paid $205,000 for the property and was represented in the transaction by Steve MacGeorge of Commercial Equity Partners.   

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

Beth Payan, Larry Vershel Communications 407-644-4142

Chatham Lodging Trust Increases Capacity with New Fully Unsecured Credit Facility, Reduces Interest Costs and Pushes Maturity to 2020

PALM BEACH, FL,  Nov. 30, 2015—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, today announced that it successfully closed on a new, expanded $250 million senior unsecured revolving credit facility.

The new unsecured revolving credit facility will mature in November 2020, which includes the option to extend the maturity by an additional year and replaces a $175 million secured credit facility that was scheduled to mature in 2016.

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

Patrick Daly
Account Executive
 Daly Gray, Inc.
620 Herndon Parkway
Suite 115
Herndon, VA 20170
 (703) 435-6293 (office)

Ramada Fuels Australian Growth with Addition of Newest Resort on Queensland’s Sunshine Coast

Barry Robinson
GOLDEN BEACH, AUSTRALIA (Nov. 30, 2015) – Further building upon its presence in Australia, Wyndham Hotel Group today announced the rebranding of the WorldMark Golden Beach Resort—one of Queensland’s most popular vacation ownership resorts— to the new Ramada® Resort Golden Beach.

Located along Queensland’s Sunshine Coast, the 130-room resort recently underwent an approximately $1.5 million renovation and will now operate as a mixed-use property, catering both to traditional hotel guests as well vacation owners through WorldMark South Pacific Club by Wyndham. It’s the 14th property in Australia to open under the Ramada flag.

“Ramada is a globally recognized brand known not just for the tremendous quality of its offerings, but the unique, global destinations made available through its ever growing portfolio,” said Barry Robinson, president and managing director, Wyndham Hotel Group South East Asia and Pacific Rim.

 “Through this rebranding and renovation, we’re opening one of the area’s best resorts to a whole new set of global travelers and sharing all that Golden Beach and the Ramada brand have to offer with them.”

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

Hayley Sultanie
Public Relations
T: +61 (0) 7 5512 8491

$6.885 million financing for 209-unit multi-housing community in Colorado Springs, CO secured by HFF

Peak 4420 Apartments, 4420 East Pikes Peak Avenue, Colorado Springs, CO
Brock Yaffe

DENVER, CO – Nov, 30, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $6.885 million in financing for Peak 4420, a 209-unit, garden-style multi-housing community in Colorado Springs, Colorado.

Working on behalf of POV Investment Group, LLC, an affiliate of Radford Investment Properties, HFF placed the seven-year loan with Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. 

The securitized, floating-rate loan has two years of interest only with flexible prepayment and will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.

Peak 4420 is located at 4420 East Pikes Peak Avenue to the east of downtown Colorado Springs and near major thoroughfares, including State Highway 24, Route 21 and Interstate 25, providing convenient access to the area’s core employment centers. 

The seven-building property has studio, one- and two-bedroom units ranging from 520 to 750 square feet.  Community amenities include a swimming pool, dog park and playground.

The HFF debt placement team representing the borrower was led by associate director Brock Yaffe.

"HFF was exceptional to work with on this refinance, which allowed our investors to recoup the vast majority of their initial investment while providing additional capital for continued improvements to the property.  HFF's team delivered and exceeded on our agreed terms and I look forward to working with them on future deals," said Michael Foerster, principal for Radford Investment Properties.

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

HFF closes sale of 411-unit apartment community in San Antonio, TX

Matt Pohl
AUSTIN, TX – Nov. 30, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of The Place at Overlook, a 411-unit apartment community in San Antonio, Texas.

HFF marketed the asset exclusively on behalf of MC Companies.  My Residential, a private company located in Denver, Colorado, purchased the property for an undisclosed amount on a loan assumption basis.

The Place at Overlook is situated on 16.04 acres at 4934 Woodstone Drive near the intersection of Interstate 10 and Huebner Road in northwest San Antonio. 

In addition, the asset is proximate to Loops 410 and 1604 and major employers, including USAA and the South Texas Medical Center.

The 31-building property has 294,000 rentable square feet and offers a mix of one- and two-bedroom units.  Community amenities include a swimming pool, full-size sport court, sand volleyball court, fitness center and clubhouse.

The HFF investment sales team representing the seller was led by director Matt Pohl and senior managing director Sean Sorrell.

“The Place at Overlook is a well-located property in northwest San Antonio that presented the marketplace with an interesting value-add opportunity,” says Pohl.  “We were pleased to find a qualified buyer that was capable of navigating the loan assumption process and to assist My Residential with their first acquisition in the San Antonio market.”

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |