HFF announces sale and acquisition financing of Hotel MdR in Southern California’s Silicon Beach

 

Hotel MdR, West Los Angeles, CA

 

Kevin MacKenzie

 LOS ANGELES, CA –– HFF announces the sale of and acquisition financing for Hotel MdR – a DoubleTree by Hilton Hotel, a 283-room, full-service hotel located in West Los Angeles within the Marina del Rey submarket.

The HFF team arranged the sale on behalf of Lubert-Adler, Channel West Group and Arris Investments to U.K.-based London & Regional Properties (L+R).  This is the first hotel acquisition in the United States for L+R, which has a long-standing relationship with HFF’s London office. 

Additionally, the HFF team worked on behalf of L+R to place the five-year, floating-rate loan with a Germany-based lender.

Hotel MdR was extensively renovated and repositioned as a soft-branded DoubleTree Hotel in 2014.  The hotel features an outdoor heated pool and patio, state-of-the-art fitness facility, 24/7-business center, market, energy room with ping-pong table, 5,429 square feet of indoor/outdoor event space and Barbianca Local Kitchen restaurant.

Aaron Lapping

  Hotel MdR occupies a premier location at 13480 Maxella Avenue in the heart of Silicon Beach, the third largest technology hub in the world. 

The hotel is proximate to Playa Vista, Santa Monica and Venice, which are home to some of the world’s top TAMI (technology, advertising, media and information) companies, including Google, YouTube, Sony, Facebook and IMAX.

Additionally, the hotel is located just minutes from vibrant West Los Angeles submarkets, including Santa Monica, Venice and Culver City as well as Los Angeles International Airport.

Tony Malk

The HFF investment advisory team that arranged the transaction consisted of managing directors Tony Malk and Scott Hall and real estate analyst Aaron Lapping.

The HFF debt placement team representing the borrower included director Brad Greenway in HFF’s London office along with executive managing director Kevin MacKenzie and director Matthew Stewart in HFF’s Los Angeles office.

“HFF’s deep knowledge and relationships in the U.S. hotel market allowed us to strategically target a mutually beneficial transaction for both buyer and seller,” Malk said.  “This transaction demonstrates HFF’s cross-border capabilities as well as the continued desire of global capital sources to acquire well-located, quality hotels in strategic markets.”

“Hotel MdR is a uniquely located asset that derives significant demand from its surrounding technology hub,” Hall added.  “It will continue to benefit from continued demand growth and very little new competitive supply.”

“This transaction exemplifies the strength of the HFF platform since HFF was able to advise on all components of the transaction while successfully importing capital from both the U.K. and Germany,” Greenway said.

Holliday GP Corp. ("HFF"), a California licensed real estate broker, California License #01385740.   

  

For more information, please contact:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

http://www.channelwestgroup.com.

http://lrp.co.uk/hotels.

http://www.arrisinvestments.com.

http://www.lubertadler.com.

Palm Coast, FL Hospitality Property Trades for $4.9 Million

 

Gabriel Shamay

PALM COAST, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Red Roof Inn Palm Coast, a 78-room hospitality property located in Palm Coast, FL, according to Ryan Nee, vice president / regional manager of the firm’s Fort Lauderdale office. The asset sold for $4,900,000.

            “The buyer was a first-time hotelier who saw an opportunity to acquire a stabilized asset with long-term growth potential,” states Gabriel Shamay, associate, in Marcus & Millichap’s Fort Lauderdale office.

David M. Greenberg

David M. Greenberg, senior managing director investments, Robert S. Hunter, first vice president investments, David J. Altman, senior associate, Shamay, and Scott J. Havericak, associate, all located in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company, and secured and represented the buyer, a private investor.

“The seller was an out of state owner, and the buyer was an out of state investor.  This deal is another example of Florida hotel investments being highly sought after by out of area capital.  Our team marketed the property across state and country lines, resulting in a competitive bidding environment,” states Greenberg.

Red Roof Inn Palm Coast is located at 10 Kingswood Drive in Palm Coast, FL.  The Property is a three-story, limited service hotel, well positioned directly off Interstate 95. The hotel is located only a short drive from beach access, sports complexes and state parks.

For more information, please contact:

 Ryan Nee

Vice President / Regional Manager, Fort Lauderdale

(954) 245-3400

Trammell Crow Residential Hires Brad Mooney, Former Schlage Lock Factory Development Project Director, as Alameda Point Senior Project Manager in Alameda, CA

Brad Mooney

MILL VALLEY, CA -- Trammell Crow Residential (TCR), a division of Dallas-based Crow Holdings, announced that the firm has hired Brad Mooney as Senior Project Manager for the company’s $1 billion mixed-use, transit-oriented waterfront development located at the gateway to Alameda Point, in Alameda, California. 

Mooney was most recently the Project Director for Bayside Development’s 1,679-unit redevelopment of the former Schlage Lock factory in San Francisco.

“Brad Mooney is a welcomed addition to our team as Senior Project Manager for this incredibly important project at Alameda Point,” said Bruce Dorfman, Senior Managing Director of TCR’s Northern California division.

 “Alameda Point Site A consists of 800 residential units, including 200 affordable units, up to 600,000 square feet of commercial/retail space, and a new ferry terminal and other public improvements.

Bruce Dorfman

"It is significant in both scale and impact on the region and given Brad’s vast experience with large-scale projects, such as the Schlage Lock redevelopment in San Francisco, we appreciate having his expertise and knowledge guiding our development.”  

At Bayside Development in San Francisco, Mooney was a primary member of the development team that entitled more than 3,200 mixed-use residential units across multiple projects in southeastern neighborhoods of San Francisco.

Prior to Bayside Development, Mooney had a noteworthy career as an innovative development and construction executive with broad expertise across multiple platforms including construction management, design, finance and entitlements.

 His success has been built upon the coordination of stakeholders through development of strong, honest and reflexive relationships that span cultural divides and bring businesses together. Mooney has extensive field knowledge, which informs his project management by establishing realistic goals based on practical expectations supported by market research. He has a personal emphasis and commitment to green building principles, technology and continued education.

Mooney graduated from the University of Illinois with a bachelor’s degree in Fine Art and a Master of Interdisciplinary Education from Virginia Commonwealth University. He has a Professional Certificate of Construction Management from the University of Washington. 

For more information, please contact:
 

Anne Monaghan
MONAGHAN COMMUNICATIONS, INC.
anne@MonaghanPR.com
830.997.0963

www.TCR.com.