North Hill City Resort Opens its Doors in Chiang Mai, Thailand

North Hill City Resort, Near Chiang Mai, Thailand

James Hang

Chiang Mai, Thailand -- North Hill City Resort, a new five-star luxury resort near Chiang Mai, officially opened and welcomed its first guest.

 Perfect for business and leisure travelers alike, the boutique, 42-room resort offers a sophisticated and contemporary setting with outstanding views of Doi Suthep, ideal proximity to the new North Hill Golf Course and a number of unique amenities.

The opening of the new resort in Chiang Mai coincides with the recent award by Travel + Leisure, whose readers voted Chiang Mai as best city in Asia in Travel + Leisure’s “The World’s Best Cities” survey. 

“After much preparation, we are thrilled to unveil North Hill City Resort and welcome our first guests for a modern and luxurious experience in this unbelievable destination,” said James Hang, general manager of North Hill City Resort. 

“Away from the hectic pace of the city, our new property offers exceptional amenities and an ideal location for taking advantage of everything the region has to offer.”

Black Squid Ink, Thailand Specialty

Culinary enthusiasts will love the property’s new Italian restaurant the Zest, serving authentic Italian dishes with a Thai flare. 

With a modern and intimate design, the restaurant features unique menu items such as Spaghetti with Seafood and Black Squid Ink and international wines to be enjoyed overlooking the North Hill River.

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

Hwee Peng Yeo

Vice President, Asia Markets

Glodow Nead Communications

San Francisco • New York • Singapore • Shanghai

Level 21, Centennial Tower, 3 Temasek Avenue • Singapore 039190

Level 15, One Corporate Avenue, 222 Hubin Road, Shanghai China, 200021

1700 Montgomery Street, Suite 203 • San Francisco, CA • 94111

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

www.GlodowNead.com

Newcastle Partners Sells Recently Completed Industrial Building to Parter Medical Products, LLC in Ontario, CA

  

 

Paul Earnhart

San Francisco, CA (Oct. 7, 2016) -- Newcastle Partners, Inc., a San Francisco-based real estate investment and development company, announced today it has sold Ontario Airport Distribution Center, a 102,440-square-foot Class A industrial property, for $12 million to an owner-user in Ontario, CA.

The buyer, Parter Medical Products, LLC, is a preeminent manufacturer of quality, single use, plastic, laboratory products for healthcare, medical and pharmaceutical research markets. With two locations in Carson, CA, this new facility is Parter’s first in the Inland Empire.

The property is situated on 5.12 acres at 1521 South Hellman Avenue. It features 5,000 square feet of two-story executive office space, 30’ minimum clearance height, 18 doc doors, one ground-level loading door, an ESFR sprinkler system, and offers immediate access to the 10, 15 and 60 freeways.

 Paul Earnhart of Lee & Associates represented the buyer. Jeff Bellitti and Mike McCrary of JLL represented Newcastle Partners.

Jeff Bellitti

Over the past two years, Newcastle has acquired, developed or sold in excess of 2 million square feet of industrial property in the region, and the firm plans to be even more aggressive for the balance of 2016.

“Newcastle continues to be bullish on developing quality industrial facilities in the Inland Empire,” said Jackson Smith, partner with Newcastle Partners. “Because industrial occupancies are extremely hard to find in the adjacent counties of Orange and Los Angeles, and as demand remains robust for larger spaces, we see this market as one that will have longevity for distribution, warehouse and manufacturing users well into the future.” 

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

darcie@spauldingthompson.com

Avanath Capital Management Expands Portfolio

The Lodge at Peasley Canyon, Seattle, WA

SEATTLE, WA -– Avanath Capital Management, an institutional fund manager that invests in affordable and workforce housing, has acquired two workforce housing assets including The Lodge at Peasley Canyon, a 339-unit property in Seattle, Washington, and Harbor Pointe, a 34-unit property in Ft Lauderdale, Florida, for a total of $84.8 million. 

Avanath purchased Harbour Pointe with joint-venture partner Oak Tree Residential.

“Each of these assets presents an opportunity to leverage market growth while also preserving much-needed workforce housing in cities that have experienced some of the highest rent increases in the nation,” says John Williams, President and Chief Investment Officer of Avanath.

John Williams

A recent Axiometrics report ranked Seattle as the third highest market for annual effective rent growth in the United States, while a local news report cites continued year-over-year rent increases in Broward County, Florida.

“Amidst this rent growth, there is a severe shortage of quality workforce housing that caters to middle-income families in major urban cores throughout the nation,” continues Williams. 

“Our investment strategy is to capitalize on this underserved market sector by acquiring and repositioning well-located workforce housing assets in high-rent markets in order to generate attractive risk-adjusted returns, while also providing workers with high-quality housing they can afford.”

Since 2008, Avanath has acquired and managed more than 41 affordable and workforce housing properties totaling over 7,000 units across the nation, targeting assets near major employment hubs in supply-constrained markets.

The two workforce housing investments recently acquired by Avanath include:

The Lodge at Peasley Canyon

Avanath acquired The Lodge at Peasley Canyon, a 339-unit workforce housing community in Seattle, for $73.3 million.

“Seattle has recently emerged as one of the fastest-growing metros in the nation, making this a highly attractive market for multifamily investors,” says Williams. “The region is quickly gaining ascendancy as one of the premier tech hubs in the Pacific Northwest, with a demographic profile and rent growth similar to that of the Bay Area. Situated in this thriving tech corridor,

Haarbor Pointe. 2201 Southeast 18th Street
Fort Lauderdale, FL

“The Lodge at Peasley Canyon is uniquely positioned to cater to middle-income tech support workers that are unable to afford new luxury apartments or other expensive options.”

Williams notes that Seattle is home to Fortune 500 companies such as Amazon, Starbucks, Microsoft, and Nordstrom, which has fueled a luxury apartment construction boom in recent years.

Harbor Pointe

Avanath and Oak Tree Residential have acquired Harbor Pointe, a 34-unit workforce housing community in Fort Lauderdale, Florida, for a total consideration of $11.5 million.

“Harbor Pointe is an extremely well-appointed community that is also one of the most affordable apartment complexes on the ocean side of Fort Lauderdale. The property is well-positioned to attract workers in the hospitality and cruise industries,” says Williams, who notes that tourism is the market’s second largest industry, employing more than 180,000 people throughout the county.

  

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

Katie Kea / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

kkea@browermillercole.com

Shopoff Realty Investments Acquires Las Vegas Apartment Community

  

William Shopoff

LAS VEGAS, NV – Shopoff Realty Investments, a national manager of opportunistic and value-add real estate investments, announced the company has acquired a 624-unit apartment community in northwest Las Vegas for $72.6 million. In line with the company’s strategy, there is a possibility of the addition of a co-investor in the near future.

The property, Sky Pointe Landing Apartments, is a Class B community constructed in 1996 and located at 5850 Sky Pointe Drive off the U.S. 95 highway and near the I-215 interchange. The property boasts a variety of one, two and three bedroom floorplans with two clubhouses and two pools throughout the community.

“This apartment community is located in a terrific neighborhood, but is in need of an update,” said William Shopoff, chief executive officer of Shopoff Realty Investments. 

“As a market, Las Vegas is coming back from the depths of the 2008 Great Recession, with steady job growth a greatly reduced inventory of shadow market single family homes which is helping to push market rents and occupancy for apartments across the Las Vegas Valley.”

“While the property is in great shape for being 20 years old, we are planning to invest over six million dollars into enhancing the existing community amenities and updating the unit interiors,” said David Placek, executive vice president of Shopoff Realty Investments. “Our strategy is to bring the asset up to modern standards, improving the living experience for the residents and with that, the value of the asset.” 

 Shopoff Realty Investments has a 24-year history of real estate investing. 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:

Jill Swartz

Spotlight Marketing Communications

949.427.5172, ext. 701

jill@spotlightmarcom.com

MVP REIT and MVP REIT II Close $30 Million Credit Facility with KeyBank National Association

  

 

Michael Shustek

SAN DIEGO, CA – MVP REIT, Inc. and MVP REIT II, Inc. (the “REITs”), both publicly registered non-traded real estate investment trusts, entered into a credit agreement with KeyBank National Association for a $30 million revolving credit facility with accordion expansion options to increase the facility size up to $100 million. 

The initial term is two years and matures on October 5, 2018.

“The closing of this facility marks a milestone for the REITs,” said Michael Shustek, chairman and chief executive officer of MVP REIT, and president, chief executive officer and chairman of the board of MVP REIT II.

 “It will provide both companies with increased flexibility and a reduced cost of capital which should facilitate the growth of their portfolios of parking assets.”

  

 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.TheParkingREIT.com.

HFF closes $8 million sale of two buildings in New York’s Hudson Valley region

100 and 110 Crystal Run Road, Hudson Valley, Middletown, NY

 

Rob Hincklley

NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $8.0 million sale of two adjacent buildings totaling 68,831 square feet in the Hudson Valley community of Middletown, New York.

The offering consists of 100 and 110 Crystal Run Road, which are located in the healthcare-focused district of Middletown, near the recently completed Orange Regional Medical Center.

 The properties have immediate access to Interstate 84 as well as close proximity to Route 17, Interstate 87 and the Port Jervis Line, a commuter rail line offering access to Manhattan. 

The 43,518-square-foot 100 Crystal Run Road is fully leased to law, consulting and healthcare companies, including DaVita Dialysis Center and Cornerstone Environmental Group, which operates its national headquarters at the property.  110 Crystal Run Road is a 95-percent-leased office building totaling 24,480 square feet.  Major tenants include Orange Regional Medical Center and Prime Time Early Learning Center. 

The HFF investment sales team representing the seller was led by managing director Rob Hinckley, directors Stephen Simonelli and Michael Oliver and senior managing director Jose Cruz.

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

Kristen Murphy

Director, Marketing

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

tel 617.848.1572 | fax 617.338.2150 | www.hfflp.com

krmurphy@hfflp.com

HFF arranges $62 million financing for 7-property retail portfolio in the Carolinas, Georgia and Mississippi

One of seven retail centers financed in North and South Carolina, Georgia and Mississippi

Kevin Mackenzie

NEWPORT BEACH, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $62 million in first lien financing for a portfolio of seven retail centers totaling 805,803 square feet in North and South Carolina, Georgia and Mississippi.

HFF worked on behalf of the borrower-sponsor, Cole Credit Property Trust IV, Inc. (CCPT IV), to place the seven-year, fixed-rate loan with Voya Investment Management.  HFF will service the loan.

Of the seven properties in the portfolio, three are in South Carolina near Charleston and Greenville-Spartanburg:  Walmart Neighborhood Market at 10635 Dorchester Road in Summerville (Charleston), Poplar Springs Plaza at 2153 East Main Street in Duncan (Greenville-Spartanburg) and Tire Kingdom & Starbucks at 1820 North Highway 17 in Mount Pleasant (Charleston MSA).

 The portfolio also includes two Georgia properties, Albany Square at 2707 Dawson Road in Albany and East-West Commons at 1757 East-West Connector in Austell (Atlanta); Morganton Heights at 400 Henredon Road in Morganton, North Carolina, and The Ridge at Turtle Creek in Hattiesburg, Mississippi.

 All properties in the portfolio are anchored by national retailers, including Walmart Neighborhood Market, Publix, Academy Sports, Belt, Dick’s, T.J. Maxx, Ross Dress for Less, Hobby Lobby and Bealls. 

Greg Brown

The HFF debt placement team representing the borrower consisted of senior managing director Kevin Mackenzie, director Greg Brown and associate director Cory Fowler.

“Using our marketing process and the strength of the sponsorship coupled with the cross collateralization of the portfolio, we were able to provide the client with multiple balance sheet lender options and, ultimately, were able to close with an excellent lender in Voya within the client’s desired timeframe,” Brown said.

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

Kristen Murphy

Director, Marketing

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

tel 617.848.1572 | fax 617.338.2150 | www.hfflp.com

krmurphy@hfflp.com

Waterton Appoints Robert Brashler as General Manager of DoubleTree Pittsburgh Airport

Patrick Hansen

CHICAGO / PITTSBURGH  (Oct. 6, 2016) – Waterton, a U.S. real estate investor and operator, today announced it has appointed Robert Brashler as general manager of the DoubleTree by Hilton Hotel Pittsburgh Airport in Moon Township, Penn.

Bringing over 15 years of hospitality management experience to the company, Brashler will oversee day-to-day operations at the 135-key hotel, leading a team of more than 100 on-site associates.

“Robert’s rich experience in hospitality management throughout the East Coast, paired with his strong human resources and revenue management background, make him uniquely qualified to serve as general manager of the DoubleTree Pittsburgh Airport,” said Patrick Hansen, senior vice president of operations at Waterton.

“Throughout his career, Robert has demonstrated an ability to deliver exceptional guest experiences by placing an equal emphasis on the happiness and satisfaction of the associates who ultimately shape those experiences. It’s a philosophy that aligns perfectly with Resitality, our goal of making hotel guests feel at home during their stay and on-site associates feel like they’re part of the Waterton family.”

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

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

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

www.waterton.com.

PittsburghAirport.DoubleTree.com.