Friday, July 22, 2016

The Emirates Academy of Hospitality Management Partners with Hospitality Asset Managers Association MEA

Judy Hou

DUBAI --  The Emirates Academy of Hospitality Management (EAHM), one of the world’s leading hospitality management schools and part of Jumeirah Group, recently signed a cooperation agreement with the Hospitality Asset Managers Association of Middle East and Africa (HAMA MEA).

HAMA is the pre-eminent organization of professionals responsible for proactively increasing asset values on behalf of hotel owners worldwide with more than 400 professionals worldwide representing an estimated 5,000 hotels.

The MEA affiliate is based out of Dubai within the Dubai International Financial Centre (DIFC), covering the Middle East and Africa, with members reaching as far as South Africa. HAMA MEA will seek to support the evolution of the hotel asset management profession across the region while furthering the Association's global footprint, which currently has established affiliates in the USA, Asia Pacific, Japan, China and Europe.

Dr John Fong (left), Director of Business Development and Consulting, EAHM
and René Beil, President of HAMA MEA and Managing Director of Beaufort Global Partners, signed a cooperation agreement at EAHM. 

This agreement with EAHM serves to educate students on the possibility of Asset Management as a career path and further helps to bridge the gap between an increasingly complex industry and education. In a region where maximisation of value for hotel owners and investors is key, it is critical to educate future hoteliers so that they enter the industry with an investor ready mind-set.

Commenting on the new partnership between EAHM and HAMA MEA, Judy Hou, Managing Director of The Emirates Academy of Hospitality Management, said: “We are proud of this partnership as this collaboration will give our students the invaluable experience needed before they enter the industry.”

"We are delighted with this collaboration agreement which is in line with our mission of the enhancement of Hospitality Asset Management through education, advancement of the profession, and highlighting the viability of Asset Management as a professional career path" says René Beil, President of HAMA MEA & Managing Director of Beaufort Global Partners.

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

Dubai International Financial Center
Penthouse 4 , Gate Village Building 2,
PO Box 66435, Dubai,United Arab Emirates
Tel: +971 4 313 2743 Fax +971 4 313 2744

Hold-Thyssen Negotiates Sale of Professional Office Park in Lutz, FL

Theresa Margaris
CLEARWATER, FL. --- Hold-Thyssen, Inc., a real estate services firm, recently negotiated the $725,000 sale of the Van Dyke Professional Center at 17535-45 Darby Lane in Lutz.    

Theresa Margaris, transaction specialist at Hold-Thyssen, negotiated the sale representing the seller, Portland, Oregon-based NWE17, LLC.  

An established consulting firm specializing in business advisory services purchased the office park which was built in 2007 on 1.77 acres with 7,500 useable square feet.    The property was 66 percent leased at the time of the sale.

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

Passco Companies Sells 232-Unit Class A Multifamily Asset in Metro Atlanta, GA

Gary Goodman
ATLANTA, GA – Passco Companies, LLC has sold Sundance Creek, a 232-unit multifamily community in the Atlanta submarket of McDonough, Georgia.

 Passco Companies initially acquired the asset for $14.5 million. The sale price was not disclosed, however, industry sources place it at approximately 60-percent above that purchase price.

“We recognized the potential in this asset and submarket early on, and we were able to reap the benefits of its rapid growth in order to bring the property full cycle,” said Gary Goodman, Senior Vice President of Acquisitions for Passco Companies. 

Passco initially acquired Sundance Creek in 2010, a time when many investors were focused only on primary markets, according to Goodman.

“Passco’s investment strategy has always been forward-looking, and this asset exemplifies that,” Goodman says. 

“We identified McDonough as a submarket where employment growth and expansions were planned. Since the property was an REO resulting from a foreclosure it was acquired well below replacement cost at a favorable purchase price.

“We upgraded the asset to include in-demand rental amenities, and were able to sell at a premium price after the planned expansions came to fruition.”

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

Devin Ugland / Lexi Astfalk
Brower, Miller & Cole
(949) 955-7940

David Upbin Promoted at Mortgage Bankers Association to Associate Vice President of Education Operations and Programming, and MBA Strategy

David Upbin
Washington, DC – The Mortgage Bankers Association (MBA) announced the promotion of David Upbin to the position of Associate Vice President of Education Operations and Programming, and MBA Strategy. The promotion was effective July 1, 2016.

In his new role, Mr. Upbin, who joined MBA in 2013, will be responsible for the financial management, operations, delivery, and programming of MBA Education’s suite of training products and events.

 From a strategic standpoint, Mr. Upbin will continue to help develop, track and manage annual MBA performance goals and objectives, and will play a key role in the implementation of the MBA’s new Strategic Plan.

Over the past two years, Mr. Upbin has played a significant role in the development and execution of several key initiatives, including Mortgage Banking Bound, the Commercial Real Estate Basics program, and Education Advantage, a training package geared towards Independent Mortgage Bankers and community-based lenders.

Prior to joining MBA, Mr. Upbin was a Client Relationship Manager at Cambridge Associates, LLC, where he developed, maintained and protected client-company relationships. Mr. Upbin earned his bachelor’s degree in Business Administration from The George Washington University.

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

Rob Van Raaphorst
(202) 557-2799

Eide Bailly Recommits to Long-Term Lease in Phoenix Midtown Office Market; JLL signs accounting firm to 19,380 s.f. lease renewal at Central Arts Plaza

BMO Tower at Central Arts Plaza, 1850 North Central Avenue
Phoenix, AZ
PHOENIX, AZ – Phoenix’s Midtown office market remains a prime location for corporate tenants to grow and thrive at affordable rents, according to the Phoenix office of JLL and a recent 19,380-square-foot lease renewal and expansion completed at Central Arts Plaza on behalf of tax accountant and CPA firm Eide Bailly, LLP.

Eide Bailly has occupied a full floor at the BMO Tower at Central Arts Plaza for more than a decade. 

With this renewal, they recommit to their Midtown presence, with plans to renovate their office space to accommodate growth and better serve clients across the region. The Phoenix office is one of 29 Eide Bailly locations serving more than 54,000 clients across the U.S.

John Pierson
JLL Managing Director John Pierson and Associate Trevor Pratt represented Eide Bailly in the lease transaction. The building owner, McCarthy Cook & Co., represented itself in the negotiations.

“Eide Bailly originally chose this building for its proximity to downtown Phoenix, its adjacency to the metro freeway system, its rental economics and its professional image. 

"After 10 years, the project still delivers these same advantages, along with a growing list of cultural and corporate amenities in Midtown,” said Pierson. “It is a great place for Eide Bailly to stay, and continue to grow, as it serves its clients.”

According to JLL’s 2016 Skyline report, Midtown Phoenix offers an attractive central location option for corporate tenants, and will remain so as rents in downtown Phoenix continue to rise – now sitting at an average $23.75 per-square-foot for Skyline space and an average $28.29 per-square-foot for trophy Skyline space.

Formerly known as Viad Corporate Center, BMO Tower at Central Arts Plaza is located at 1850 N. Central Ave. in Phoenix. It totals approximately 500,000 square feet of Class A space in 24 stories, making it Phoenix’s fifth tallest office building. 

Amenities at the project include an on-site café, outdoor lounge, fitness center, conference center, performing arts theatre and two-acre park amenity. Notable tenants in the tower include BMO Bank, Cavanaugh Law, Cramer-Krasselt, PWC and Stinson Leonard Street Law Firm.

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

Stacey Hershauer
Marketing & Public Relations
(480) 600-0195