Marcus & Millichap Broker $5 Million Sale of 116-Room Hawthorn Suites by Wyndham in Jacksonville, FL

Gabriel Shamay

Jacksonville, Fla., July 18, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Hawthorn Suites by Wyndham, a 116-room hospitality property located in Jacksonville, according to Ryan Nee, vice president / regional manager of the firm’s Fort Lauderdale office.

          The asset sold for $5,000,000.

"The hotel is a former Homewood Suites by Hilton and is an all-suite hotel," says Gabriel Shamay, associate, in Marcus & Millichap’s Fort Lauderdale office.

"Due to its unique layout and its high-barriers-to-entry location, we were successful in generating 19 written offers from both local and out-of-area investors and eventually closing the hotel within two percent of our list-price.

David M. Greenberg

"The sale of this hotel is a testament to the desirability of the Jacksonville hotel market and the state of Florida as a whole."

Shamay, David M. Greenberg, senior managing director investments, Robert S. Hunter, first vice president investments, David J. Altman, senior 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 represent the buyer, a private investor.

“Based on the layout of the property, we generated interest and offers from hotel, corporate housing, multifamily and senior living buyers, and ultimately this hotel was acquired by an experienced value-add hotel investor.  

"We expect that through a hands-on management program, the buyer will successfully execute a business plan, including renovating the hotel, that will make this a very profitable hotel investment,” says Greenberg.

David J. Altman

Hawthorn Suites by Wyndham is located at 8737 Baymeadows Road in Jacksonville, FL.  

The hotel is located just off Interstate 95 and minutes from many of the city’s major points of interest including Florida State College-Jacksonville and downtown Jacksonville.

For more information, please contact:

Stephanie Carten

Stephanie.Carten@marcusmillichap.com

Ryan Nee

Vice President / Regional Manager

Fort Lauderdale

  (954) 245-3400

SusieCakes and Lululemon Athletica Open First Long Beach Locations at LBX in Long Beach, CA

LONG BEACH, CA (July 18, 2018) — Long Beach Exchange, a new retail and lifestyle destination in East Long Beach comprised of top international, national and regional shopping and dining tenants, today announced two impressive additions to its center lineup.

Steve Thorp

According to the team at Burnham-Ward Properties — LBX’s developers and owners —  Lululemon Athletica andSusieCakes are set to join the destination’s dynamic roster of tenants.

“Our goal is to thoughtfully curate a unique and balanced mix of retailers, restaurants and entertainment at Long Beach Exchange,” says Steve Thorp, Executive Vice President and Partner at Burnham-Ward Properties.  “The addition of SusieCakes and Lululemon to LBX reflects the excitement for this destination among both tenants and the community.”

World-renowned, yoga-inspired athletic apparel retailer Lululemon Athletica will open this fall at Long Beach Exchange, offering its full line of clothing and accessories for men and women. The Lululemon store will provide a perfect complement to LBX’s boutique fitness offerings, including GRIT Cycle, Ra Yoga and Orangetheory Fitness.

SusieCakes, an all-American bakery offering classic desserts made entirely from scratch using only the highest quality, natural ingredients, is set to open its first-ever Long Beach location at LBX in November.

Susan Sarich

“We currently operate eighteen locations throughout California, and Long Beach was a natural next step for us,” says Susan Sarich, Founder and CEO of SusieCakes. “We are excited to join Long Beach Exchange and bring something new and unique to the area. The SusieCakes team looks forward to helping the Long Beach community celebrate special occasions and everyday moments, as well.”

According to Thorp, Long Beach Exchange will continue to open additional retail, dining and fitness locations throughout 2018.  “LBX is consistently committed to identifying and securing quality retailers that our community of shoppers desire.  We believe that these two new offerings will bring exciting new retail and food options to shoppers, and look forward to expanding the mix further through the end of this year.”

For more information on Long Beach Exchange, please visit longbeachexchange-lbx.com.

For more information, please contact:

Jordan Kruk

Kitchen Table Marketing + PR

714.928.5085

Jordan@kitchentablepr.com

www.kitchentablepr.com

Meridian Capital Group Arranges $10.5 Million in Financing for Parkwood Plaza Shopping Center in Orlando, FL

Aryeh Meiteles

 Boca Raton, FL, July 18, 2018 – Meridian Capital Group, America’s most active dealmaker, arranged $10.5 million in financing to refinance Parkwood Plaza, a shopping center in Orlando, FL, on behalf of Highyon Assets Corporation.

The five-year loan, provided by a balance sheet lender, features a rate of 220 basis points over the 30-day LIBOR that the borrower swapped to a fixed rate of 5.34%.

The loan offers one five-year extension option and one year of interest-only payments followed by a 25-year amortization schedule.

Meridian Vice President, Aryeh Meiteles, and Managing Director, Noam Kaminetzky, who are both based in the company’s Boca Raton, FL, office, negotiated the financing.

Located at 3191 West Colonial Drive in Orlando, FL, Parkwood Plaza is a six-building, 148,000 square foot shopping center anchored by Korean supermarket chain Lotte Plaza Market.

Noam Kaminetzky

Other notable tenants include McDonalds, KFC, Taco Bell, and Valvoline.

Advantageously situated at the corner of West Colonial Drive and North John Young Parkway, the shopping center benefits from good visibility and traffic of more than 37,000 vehicles per day, and is located just two minutes from Orlando’s Central Business District.

“Though the property’s anchor tenant was still in their build-out phase, Meridian was able to work with the lender to structure the loan as if the shopping center was fully occupied, thus achieving full funding,” said Mr. Meiteles. “Meridian also structured an earn-out for future tenants leasing within the year.”

For more information, please contact:

 Jonathan M. Stern
Managing Director
Meridian Capital Group
1 Battery Park Plaza, 26th Floor
New York, NY 10004
jstern@meridiancapital.com
Direct: 212.612.0181
Fax: 212.201.5181
www.meridiancapital.com

HFF hires Stella Pappas as a director in its Chicago office

  

Stella Pappas

CHICAGO, IL, July 18, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has expanded its debt and equity placement team with the addition of Stella Pappas as a director in its Chicago office.  

Ms. Pappas has 15 years of capital markets experience.  She joins HFF from Allstate Investments where she worked for eight years in their Real Estate Private Equity Group sourcing, structuring and executing joint venture and fund investment strategies.

Jeffrey Bramson

Prior to that, she spent seven years in structured finance at Tremont Realty Capital in Chicago.  Ms. Pappas is an Executive MBA candidate at Northwestern University’s Kellogg School of Management and holds a Bachelor of Arts degree from DePaul University. 

She is active in many industry organizations, including the Pension Real Estate Association, National Multi-Family Housing Council, Women in Real Estate Equity and the Real Estate Finance Forum. 

“HFF is excited to welcome Stella to the team,” said Jeffrey Bramson, senior managing director and co-head of HFF’s Chicago office.  “She has a keen understanding of the capital markets environment across all property and investment types and will be a perfect complement to our existing team.”

For more information, please contact:

Director, Public Relations One Post Office Square Suite 3500 Boston ,  MA  02109 T: 617-848-1572  |  M: 617-543-4873 krmurphy@hfflp.com |@|*

ValuePenguin Finds Home Ownership Stays Slipping in Big Cities

Chris Moon

New York, NY -- Chris Moon, head of Mortgages Research at New York, NY-based ValuePenguin, a consumer research company, has analyzed median home ownership tenure across 318 U.S. cities to identify homeownership tenure trends.

Report Highlights:

• Home ownership tenures are getting shorter in big cities: Our study also examined how the median stay has changed since 2014. In nearly every case, the data showed that homeowners are spending less time holding onto their primary residences  
• 
  
• Are Home Owners Moving Out More Quickly? The median years of residence for home owners in the U.S. has decreased since 2014. But the median tenure for home owners has been at historic highs since 2008, as Americans are still feeling the effect of economic uncertainty, the movement of housing values and the rise in mortgage rates. 

• How Does Home Owner Tenure Affect Your Finances? We looked at the example of a consumer who took out a 30-year mortgage with the current national average rate of 4.56% and an initial down payment of 20%. If they made monthly payments on that mortgage for the median tenure of 13.3 years, then they would have built up at least 43% in equity—assuming there wasn't a decrease in property value.

Moon's report may be found at https://www.valuepenguin.com/how-long-homeowners-stay-in-their-homes

For more information, please contact:

Madison Reed | Media Relations

+1 646 693 8445

Hold-Thyssen Negotiates Class A Office Lease to Waterstone Mortgage Corp. in Lake Mary, FL

Darby Hold

LAKE MARY, Fla. --- Hold-Thyssen, Inc., a full service real estate services firm based in Winter Park, completed a lease agreement for 2,553 square feet of class A office space at 1485 International Parkway, Lake Mary where a leading mortgage lender opened July 1.

Darby Hold, Associate at Hold-Thyssen, Inc. negotiated the transaction on behalf of the landlord, Christian Financial Resources, Inc.  

1485 International Parkway,
Lake Mary, FL

The new tenant, Waterstone Mortgage Corp., with 20 years in business and more than 750 employees, is headquartered in the Milwaukee area with lending ability in 43 states.  Malcolm Clayton of Jones, Lang, LaSalle represented the tenant.      

The 27,120 square foot building at 1485 International Parkway is now 100 percent leased.

Hold-Thyssen provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more than 100 commercial properties throughout the United States.

For more information, please contact:

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

Hold-Thyssen Closes on Multi-Year Lease Agreement with Sentry Management for Increased Company Visibility at Counsel Square in New Port Richey, FL

Carol L. Kinnard

New Port Richey, FL --- Hold-Thyssen, LLC, a full service commercial real estate firm with offices in Clearwater and Winter Park, recently completed a six-year lease agreement for 3,065 square feet in Suites 103G and 104G of Counsel Square IV, 7613 Little Rd., New Port Richey.   

Carol L. Kinnard, transaction specialist at Hold-Thyssen who represented the landlord in the negotiations.

Sentry Management, Inc. has been a tenant within Counsel Square for more than five years but decided a move to Building G would facilitate their need for corporate signage and visibility. The community association management firm will relocate their offices upon completion of tenant improvements.      

Hold-Thyssen provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more than 100 commercial properties throughout the United States.

For more information, please contact:

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