HFF announces $48.51 million refinancing for CITYCENTRE Five in Houston, TX

HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announces a $48.51 million refinancing for CITYCENTRE Five, a 201,437-square-foot, Class A office building within the CITYCENTRE mixed-use urban development in Houston, Texas.

CityCentre Five, Houston, TX

The HFF team worked on behalf of the borrower, Midway Companies, to secure the loan through New York Life Real Estate Investors. 

CITYCENTRE Five is located at 825 Town & Country Lane at the southeast corner of Interstate 10 and Beltway 8 in Houston’s Energy corridor.

Colby Mueck

  Its location within the 50-acre CITYCENTRE development, which is considered Houston’s premier open-air mixed-use shopping and entertainment destination, provides tenants with immediate access to a diverse mix of restaurants and fashionable retailers, a Life Time Athletic club, three luxury apartment communities and the 265-room Hotel Sorella. 

 Additionally, the property benefits from its location near some of the strongest demographics in West Houston; average housing values within a one-mile radius of the property are more than $563,000 and average household income is roughly $179,000. 

The HFF debt placement team representing the borrower included senior managing director Colby Mueck.

For more information, please contact:

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

midwaycompanies.com.

http://www.newyorklife.com/realestateinvestors 

M Hotel Group Announces Key New Hires: Expansion in Business Development, Corporate Communications and Lifestyle Special Projects

Amish Naik

Chevy Chase, MD –– PM Hotel Group, one of the nation’s leading hotel management companies, announces the addition of two executives to positions in business development and communications, as well as new hires in revenue management.

 As the company continues to see record growth in 2018, these hires mark PM Hotel Group’s commitment to continuing to add industry-leading talent with a focus on innovation, inclusion and strong financial performance.

Jennifer Diamond Haber

Amish Naik joins PM Hotel Group as vice president, business development and owner relations. In this role, Amish will lead new business growth concentrating on the continued expansion of the portfolio’s footprint.

His responsibilities include owner relations and working to develop new revenue streams with existing ownership groups. Amish brings impressive experience in hotel development, acquisitions and owner / franchisee relations.

 Most recently, he was vice president, franchise development strategy & operations for Choice Hotels International. Previously, Amish spent nearly a decade with Marriott International as vice president, owner & franchisee services.

Joseph Bojanowski

Jennifer Diamond Haber joins PM Hotel Group in the newly created role of vice president, communications, where she leads corporate communications, public and media relations, as well as internal and associate communications.

Jennifer brings experience both as an Emmy-award winner network news producer and as an agency executive with expertise in integrated marketing, social media, thought leadership and experiential activations.

  A dedicated communications strategist, Jennifer is a natural storyteller with a track record of bringing brands to life. Previously, she was vice president at MSLGROUP with clients including Feld Entertainment, Emirates Airlines and PayPal. Earlier in her career, she was a network news producer for ABC, NBC and CBS News in New York.

Raina Taillon

Raina Taillon joins PM Hotel Group as development manager focusing on the development of new specialty luxury and lifestyle projects.

Raina’s previous experience includes four years at Hilton Worldwide as senior manager, luxury & corporate development, supporting the strategic growth of the Conrad and Waldorf Astoria brands across North America.

A graduate of Cornell University’s School of Hotel Administration, Raina began her career at LaSalle Hotel Properties as a financial analyst.

“These newly created leadership roles illustrate our passion for building a best-in-class team that’s entrepreneurial and dedicated to creative thinking,” said Joseph Bojanowski, president, PM Hotel Group. “Developing a culture that’s collaborative and goal-oriented has positioned us well to attract top talent to support our robust pipeline of new projects.”

Adding to the PM Hotel Group’s revenue management team, Libbi Carlson has been named corporate director, revenue management.

CHRIS DALY

PRESIDENT

DALY GRAY PUBLIC RELATIONS, INC.

620 Herndon Parkway, Suite 115 | Herndon, VA 20170

Main: 703-435-6293

Mobile: 703-864-5553

chris@dalygray.com | www.dalygray.com

Jennifer Diamond Haber

 JHaber@PMHotelgroup.com 

PH:  202.559.1916.

www.pmhotelgroup.com

HFF announces $13.6 million financing of Class A industrial center near Orlando, FL

Chris Drew

MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $13.6 million financing of Innovation Center at Lake Mary, a 565,927-square-foot, Class A, multi-tenant industrial property in the Orlando suburb of Lake Mary, Florida.

​The HFF team worked on behalf of the borrower, a joint venture between IP Capital Partners, LLC and Blue Vista Capital Management, to secure the floating-rate loan through NXT Capital.  Loan proceeds were used to fund the acquisition of the property and undertake a capital improvement project.

Innovation Center at Lake Mary consists of Class A bulk warehouse space that features clear heights ranging from 22 to 34 feet, 50 dock-high doors and three grade-level doors. 

Located at 2452 Lake Emma Road, the property is in in Lake Mary’s High-Tech corridor and situated along Interstate 4 ten miles north of downtown Orlando.

Matthew McCormack

 Innovation Center at Lake Mary has easy access to Florida’s highly traveled transportation arteries, including Interstate 95 and Florida’s Turnpike, and a Sun Rail hub is located 4.6 miles from the property. 

HFF’s debt placement team representing the borrower included senior managing director Chris Drew, director Maxx Carney and associate Matthew McCormack.

“The borrower’s expertise in the repositioning of industrial assets and Innovation Center’s central location will result in a successful and expeditious execution of the business plan,” Drew said.

IP Capital Partners, LLC is a private real estate investment and asset management firm headquartered in Boca Raton, Florida.  IP Capital was formed to focus exclusively on co-investing with various institutional and high net worth joint venture partners in office, retail and industrial real estate in the major growth markets of Florida. 

 For more information, please contact:

Kimberly Steele​ Digital Content/Public Relations Specialist T: 713-852-3420

ksteele@hfflp.com http://bluevistallc.com.

HFF announces the $13.38 million sale and $8.5 million financing for single-tenant retail building in suburban Pittsburgh, PA

Claudia Steeb

Marc Mandel

PHILADELPHIA, PA –– HFF announces the $13.38 million sale of and the $8.5 million acquisition financing for a 53,000-square-foot, single-tenant retail property occupied by Levin Furniture in the Pittsburgh-area community of Wexford, Pennsylvania.

The HFF team marketed the property on behalf of the seller, a REIT.  A private East Coast buyer in a 1031 Exchange purchased the asset free and clear of existing financing.  

Additionally, working on behalf of the new owner, the HFF team placed the 20-year, fixed-rate loan with Protective Life Insurance Company.  HFF will service the loan, proceeds of which were used to purchase the asset.

Steve Schrenk

Levin Furniture, which is now part of Art Van Furniture following its acquisition of Wolf Furniture and Levin Furniture in November 2017, occupies the building under a triple net lease that expires in approximately 20 years.  

The building is situated on 6.24 acres at 10688 Perry Highway in Wexford, a community about 17 miles north of Pittsburgh with superior access to major highways.  

The building’s location along Perry Highway exposes it to more than 22,800 vehicles per day, and it is contiguous to the Whole Foods Market-anchored Wexford Plaza, which is one of only three Whole Foods locations in the Pittsburgh MSA. 

Coler Yoakam

The HFF investment advisory team representing the seller included managing directors Marc Mandel and director Steve Schrenk, senior managing directors Coler Yoakam and Mark West and director Michael George.

The HFF debt placement team representing the new owner consisted of senior managing director Claudia Steeb.

“The Levin sale was a great example of how HFF’s platform can best serve its client,” Mandel said.  “Through a collaboration of three HFF offices, we were able to produce a successful result for all parties involved.” 

For more information, please contact:

Kimberly Steele​ Digital Content/Public Relations Specialist T: 713-852-3420

ksteele@hfflp.com

NAI Realvest Closes on New Lease of 9,660 Square Feet to Foundation Repair Company in DeBary, FL Industrial Building

Patty Nolff

DEBARY, FL  – NAI Realvest recently closed on the lease of 9,660 square feet in a stand-alone industrial building at 210 Springview Commerce Drive, Unit 150 off of Shell Road and U.S. 17-92 in DeBary.

Michael Heidrich, a principal of the firm and Associate Patty Nolff negotiated the lease agreement representing the local landlord Lakeside Professionals, LLC.

The new tenant, Basement Authority d/b/a Florida Foundation Authority is a full service commercial and residential foundation and structural repair service headquartered in Columbus, Ohio serving Greater Orlando, Brevard and the Treasure Coast markets.   

Jason Mauer of Coldwell Banker Commercial represented the tenant.

* * *

For more information, please contact:

 Beth Payan, Larry Vershel Communications, 407-644-4142 Beth@LarryVershel.com 

Lincoln Property Company Closes on Two Leases with Companies in Growing Industries at Benson Junction CommerCenter in DeBary, FL

Sean DuPree

DEBARY, FL / ORLANDO, FL – Lincoln Property Company Southeast, a full service commercial real estate firm, completed two multi-year lease agreements for more than 10,280 square feet at Benson Junction CommerCenter in DeBary.  

Sean DuPree, Broker at Lincoln Property, negotiated the transactions on behalf of the Orlando-based landlord Benson Junction CommerCenter, LLC and the tenants -

Floating Bungalows, LLC, leased 6,080 square feet at 495 S. Shell Rd., Unit A 1-3. The company constructs floating tiny houses;

Mastiff Performance, a high performance auto shop renewed their lease of 4,200 square feet in units C7 and C8 at 485 S. Shell Rd.

The 60,000 square foot Benson Junction CommerCenter is currently 96 percent leased. 

The industrial campus is minutes from the DeBary SunRail, in close proximity to the St. Johns River and located off of US 17-92 which is connected to a network of major arterial highways for both supplier and market access.

 For more information, please contact:

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. Lvershelco@aol.com 407-644-4142

Lincoln Property Completes New Multi-Year Lease Agreement with Civil Law Practice at Airport Business Center in East Orlando, FL

Sean DuPree

ORLANDO, FL – Lincoln Property Company Southeast, a full service commercial real estate firm based in Orlando, recently completed a new multi-year lease for 3,600 square feet at 5734 S. Semoran Blvd. in the Airport Business Center in east Orlando.

Sean DuPree, CCIM, broker at Lincoln Property negotiated the transaction on behalf of the Landlord RCS-Orlando Airport 371 LLC of Louisville, Colo.

Brian C. Hogan, P.A., a civil law practice, leased the professional office space.  The tenant specializes in personal injury and foreclosure defense.

For more information, please contact:

Sean DuPree, CCIM, Director of Sales/Leasing, Lincoln Property Company 407-872-3500 sdupree@lpc.com

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. Lvershelco@aol.com 407-644-4142

SmartStop Asset Management Promotes Gerald Valle to Senior Vice President, Self Storage Operations

Gerald Valle

LADERA RANCH, CA-- SmartStop Asset Management, LLC (SmartStop) announced the company has promoted Gerald Valle to senior vice president, self storage operations.  Valle, who joined SmartStop in 2017, previously served as vice president of operations.

In his new role as part of a senior executive team with more than 100 years of combined self storage management experience, Valle will oversee the day-to-day operations of all SmartStop® Self Storage branded facilities throughout the United States, comprised of more than 240 professionals.

The SmartStop portfolio encompasses 116 facilities located throughout the United States and Toronto, Canada, comprised of approximately 73,500 units and 8.5 million rentable square feet.

“Gerald is one of the best and brightest in the industry, with more than 30 years of experience managing, operating and maximizing revenue of self storage portfolios for some of the biggest and most successful brands in the space,” said H. Michael Schwartz, founder, chairman and CEO of SmartStop Asset Management.

H. Michael Schwartz

“He joins a robust executive management team and a devoted group of employees across the nation who are dedicated to maintaining the finest self storage facilities and customer service to our clients, as well as maximizing efficiencies and profits for our investors.”

Prior to joining SmartStop, Valle spent nearly 15 years with Public Storage, ultimately serving as regional vice president of operations, and 10 years with Extra Space Storage, where he served as a divisional vice president of operations and vice president of sales.

For five years immediately preceding his tenure with SmartStop, Valle was vice president of operations with The William Warren Group, the privately held owner and operator of StorQuest Self Storage. 

Additional information regarding SmartStop is available at www.SAM.com and more information regarding SmartStop® Self Storage in the United States and Canada is available at www.smartstopselfstorage.com.

 

For more information on this release, please contact:

Julie Leber	Damon Elder
Spotlight Marketing Communications	Spotlight Marketing Communications
949.427.5172 ext. 703	949.427.5172 ext. 702
julie@spotlightmarcom.com	damon@spotlightmarcom.com

 

Elit Development Breaks Ground on The Grove at Miramar

Rendering of planned Grove at Miramar Retail Center, Miramar, FL

MIRAMAR, FL – Commercial real estate developer Elit, LLC has begun construction on The Grove at Miramar, an upscale neighborhood retail center in the heart of the city. 

Pablo E. Jeannot

Located on 5.62 acres at the southeast corner of Miramar Boulevard and Flamingo Road, the retail plaza will consist of four buildings and up to 45,000 sq. ft. of leasable space. With multiple tenants already secured, the $15 million project is slated for completion in July 2019.

“Over the last 10 years, the City of Miramar has been a hotspot for commercial and residential development,” said Victor E. Taurizano, broker manager at Novus Realty, LLC and a founding partner of Elit, which is developing The Grove with capital partner Miramar Investment Fund, LLC.

 “With its strategic location and sophisticated design, The Grove will offer tenants premium commercial space in a well-travelled area and provide residents and visitors with convenience, accessibility and an elite retail experience. It will be a fitting addition to the diverse and flourishing community of Miramar.”

The Grove will feature Mediterranean-inspired architecture, pedestrian-friendly sidewalks and lush landscaping. The buildings are surrounded by more than 200 parking spaces and will accommodate restaurants, physicians, financial institutions and more. 

Additionally, “Excellent accessibility to the site from both Miramar Boulevard and South Flamingo Road will allow smooth traffic flow and encourage returning customers,” said Elit co-founder Pablo E. Jeannot of ABIS Global.

Victor E. Taurizano

The Learning Experience^®, one of the nation’s fasting growing early education and childcare franchises with more than 200 locations across the country, has signed a lease for 10,000 sq. ft. and Den-Vest, a leader in the design of turn-key, fully-integrated dental offices and provider of equipment and support for dental practice management and operation, has signed a lease for 1,400 sq. ft.

“One of the many benefits of developing high-quality retail space is that it attracts high-caliber tenants, paving the way for increased local economic activity and the creation of new jobs,” Taurizano added.

For the project, Elit enlisted GD Construction, LLC as the builder, Gallo Herbert Architects as the architect, Whinningham & Fradley as the civil engineer, Horizon Properties as the leasing agent and Yates & Company as the land use consultant. Elit is also represented by general contracting firm GC One, Inc.   

For more information, please contact:

 

Pierson Grant Public Relations  

Lexi Robinson, 954-776-1999 ext. 255

lrobinson@piersongrant.com

www.elitdv.com.

EagleBridge Capital Arranges $21.5 Million Acquisition/Permanent Mortgage Financing For Multi-Family Portfolio in Southern New England

Apartment Complex, Southern New Engand

Brian D. Sheehan

Boston, MA -- EagleBridge Capital has arranged acquisition/permanent mortgage financing in the amount of $21,500,000 for a diverse multi-family portfolio located in Southern New England.

The mortgage financing was arranged by EagleBridge principals Brian D. Sheehan and Ted M. Sidel who stated that the loan was provided by an Agency lender.

The portfolio is made up of 370 rental units located in multiple buildings ranging in size from 2 to 18 units.

The non-recourse mortgage carried a low long term fixed interest rate with a 30 year amortization and an interest only period.

Ted M. Sidel

Mr. Sheehan and Mr. Sidel stated, “We were very pleased to meet the client’s requirements on a very complex multi-faceted loan.” 

   

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for apartment, industrial, office, and  r & d buildings, shopping centers,  hotels, condominiums and mixed use properties as well as special purpose buildings.

 For more information, please contact:

Stanley J. Sidel

Senior Advisor

EagleBridge Capital

One Boston Place, Suite 2600

Boston, MA 02108

Tel: 617-292-7177 Ext. 300

www.eaglebridgecapital.com