Kelsey Grammer's Former 13,926-SF Equestrian Estate in Malibu, CA Can be Bought for $20 Million

Kelsey Grammer Estate in Malibu, CA Up for Sale at $20 Million

          Photo credit: The Agency                   Source: theagencyre.com

SERRA RETREAT, MALIBU, CA --The palatial 1940’s Malibu Hills equestrian estate once owned by Kelsey Grammer and ex-wife Camille Grammer, star of The Real Housewives of Beverly Hills, has hit the market priced at $19.95 million, according to TopTenRealEstateDeals.com.

 In addition to its celebrity owners’ history, the home was often seen in Camille’s Real Housewives television episodes.

Kelsey Grammer

Five-time Emmy winner and with three Golden Globes for his pompous but charming roles in Frasier and Cheers, the multi-talented actor, musician and vocalist Grammer met Camille in 1996 while she was working for his production company.

Former Camille Grammer

 Married in 1997, they purchased the private, guard-gated French Country home in star-studded Serra Retreat a year later and Camille continued to live there after their divorce in 2011. The Grammers put it up for sale in 2012 and it sold in 2015.

Wolfgang Puck

Perched on a terraced hill over five acres and with ocean views, the main house measures 6,650 square feet with formal living and dining and a two-story ballroom perfect for holding large functions.

 The large kitchen was designed by Wolfgang Puck that includes an indoor-outdoor dining area.

                           Britney Spears

There is a wine cellar, large movie theater and wood-paneled library.

The master suite has a sitting room and private terrace with mountain and ocean views and spa-style bath while the luxurious guest suites each include fireplaces.

Olivia Newton John

 Among the lushly planted gardens and lily pond are a carriage house, a security outpost, a six-stall stable, dressage riding ring, a variety of outbuildings and staff quarters.

Mel Gibson

The free-form, resort-size swimming pool has a bathhouse, two spas, an exercise room and a lighted tennis court.

Outdoor dining can be enjoyed with organic fruit and vegetables from the garden, cooked outside in the barbeque area where there is also a fireplace to enjoy after-dinner conversation.

Matthew Perry

 The entire estate includes 13,926 square feet, seven bedrooms and 13 baths.

The upper reaches of Malibu’s Serra Retreat were purchased by the Catholic Franciscan Order in 1942 for $50,000 who still operate a busy weekend religious retreat and addiction-care center there.

For many years, the nearby area has attracted celebrities and the wealthy who built homes for a safe and peaceful getaway or full time to raise their families, a 24-hour-manned guard house ensures their privacy.

Larry Ellison

Many of the homes have their own equestrian facilities with access to riding and hiking trails. Residents are within walking distance to Cross Creek restaurants and shops and to the Malibu Pier on Surfrider Beach.

Current and former Mailibu residents include Mel Gibson, Britney Spears, Olivia Newton John, Matthew Perry and billionaire Larry Ellison.

Listing agents are Sandro Dazzan and Cooper Mount of The Agency, Beverly Hills.

 CONTACT:

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504
Twitter:  @toptenrealestate
facebook.com/toptenrealestat 

BLT Enterpries Completes Renovation of 60,000-SF Industrial Building in Carlsbad, CA

Renovations completed of this  60,000-SF industrial building 
 at 5940 Darwin Court,in the North San Diego submarket of Carlsbad, CA

SAN DIEGO, CA, Aug. 5, 2019 – BLT Enterprises, a multi-faceted commercial real estate development and investment company, has completed renovations of a 60,000 square-foot industrial building in the North San Diego submarket of Carlsbad, California. 

Bernard Huberman

The firm acquired the building from El Cedro, LLC in early 2017 and El Cedro leased-back the entire property for three years as part of the transaction.

Improvements include a new roof, new skylights, new HVAC and additional perimeter windows to increase natural lighting as well as a new glass balcony and removal and replacement of lobby stairs.

 The renovations also include the removal of all interior offices, conference rooms, and warehouse space, effectively bringing the asset to a clean “warm shell” status. 

Exterior improvements include all-new drought-tolerant landscaping and a new outdoor employee patio with a bocce ball and horseshoe toss activity area, according to Bernard Huberman, Founder and President of BLT Enterprises.

“We purchased this asset with the intent to implement significant improvements to drive tenant demand in a tight market,” says Huberman. 

He adds that San Diego continues to experience job growth, adding more than 26,400 jobs over the last year, including more than 6,000 new jobs in the manufacturing sector.

Huberman also notes that industrial properties that incorporate state-of-the-art design and amenities continue to be in high demand in San Diego’s core submarkets, including Carlsbad.

“These renovations take advantage of the demand for industrial product that can accommodate today’s tenants who gravitate to live/work/play environments that foster collaboration and creativity,” Huberman continues.

Located at 5940 Darwin Court, the property is housed within the premier Carlsbad Research Center adjacent to McClellan-Palomar Airport.

Contacts: 

Lisa James / Jenn Quader

Brower Group

(949) 438-6262

ljames@brower-group.com

Newmark Knight Frank Completes Sale of 69,834-SF Industrial Warehouse in Medley, FL for $9.75 Million

This 69,834-SF freestanding industrial warehouse
 at 12800 NW South River Drive
in Medley, FL sold for $9.75 million.

 Miami, FL Aug. 5, 2019 — Newmark Knight Frank (NKF) announced today it completed the sale of a 69,834-square-foot freestanding industrial warehouse in Medley, Florida for $9.75 million.

 BRW Floors, Inc., a high-end hardwood flooring distribution business, sold the building to Black Creek Group, a Denver based real estate investment manager and development firm. 

The sale comes as investors continue to compete for a limited supply of premium industrial space currently available in South Florida due to record demand fueled by the e-commerce revolution.

Located at 12800 NW South River Drive, the building was originally built in 2000 and offers immediate access to US Highway 27 and Florida’s Turnpike. The facility includes 7,000 square feet of Class A office space, 15 dock doors with room to add more, 24-foot ceilings and a 120-foot fenced and secured truck court.

            Nick Wigoda

NKF Miami’s Executive Managing Directors Nick Wigoda and Steve Medwin were the only brokers involved in the deal. 

Medwin and Wigoda facilitated the sale process by leveraging long-term relationships the two have with top institutional and private investors interested in South Florida industrial properties. 

After receiving numerous competitive offers, BRW Floors agreed to sell the warehouse to Black Creek Group who has a strong track record of purchasing and developing similar buildings in the neighborhood.

“With limited inventory available and a glut of new industrial product still under construction, we’re seeing all of the conditions typically associated with a healthy seller’s market,” said Wigoda. 

“Strong demand will continue to push rental rates up in the months ahead, signaling a bright future for the new owners of this facility.”

According to NKF’s 2Q19 South Florida industrial report, the average asking rent now sits at $8.97/SF, and is expected to eclipse the $9.00/SF mark before the end of the year. 

Steve Medwin 

Year-to-date leasing activity has already surpassed 10 million square feet of total transactions, with the region on track to beat 2018’s record of more than 8.2 million square feet of mid- to large-sized deals. 

More than 5 million square feet of mid- to large-sized deals have been recorded in the first two quarters of 2019.

CONTACT:

Liz Maddux · Assistant Account Executive

1718 Peachtree St., Suite 1048 · Atlanta, GA 30309

M: 478-972-3210

www.thewilbertgroup.com

www.ngkf.com. 

Joint Venture Between Wexford Lodging Advisors and Trinity Private Equity Group Acquires 398-Room Marriott Kansas City Overland Park

The 398-room Marriott Kansas City Overland Park Hotel 

OVERLAND PARK, KS, Aug. 5, 2019—Officials of a joint venture comprised of Wexford Lodging Advisors, a leading hotel investment and asset management firm, and Trinity Private Equity Group, one of the nation’s top alternative investment firms, today announced the  acquisition of the 398-room Marriott Kansas City Overland Park. 

The joint venture will invest approximately $17 million to upgrade the property’s guest rooms and public spaces.  Davidson Hotels and Resorts, one of the nation’s largest third-party management companies, will operate the hotel.

              

  “We are very pleased to announce our second acquisition with Trinity Preferred Equity Group, following our acquisition in April of the DoubleTree Suites Nashville Airport," said John Rosen, president, Wexford Lodging Advisors. 

John Rosen

"The Marriott Kansas City Overland Park is a perfect example of what we target: it is a well-located property in a market with strong demand generators that will benefit greatly from a comprehensive renovation and from Wexford’s hands-on asset management.

“We are also excited to work with Davidson Hotels & Resorts to plan and implement the repositioning this prominent hotel deserves.” 

"In addition to a full guestroom remodel, Wexford’s plan includes renovation of the meeting space and lobby, in addition to the introduction of Marriott’s M Club concierge lounge, as well as development of a brand new, best-in-class fitness center experience."  

Davidson Hotels & Resorts President Thom Geshay said, “Kansas City is a bourgeoning market, and the Marriott Kansas City Overland Park is at the heart of the action. 

Thom Geshay

“We’re excited to work with Wexford Lodging Advisors and Trinity Private Equity Group on cultivating an enhanced guest experience that meets the growing demand for upscale properties in the region.”

               

 Located at 10800 Metcalf Ave., the 11-story hotel is situated on I-435 within 20 million square feet of office space, proximate to major headquarter offices, including Black & Veatch, Sprint, YRC and AMC Theaters.

CONTACTS:

Chris Daly, media

 (703) 435-6293

 chris@dalygray.com

 http://www.wexfordlodging.com.

www.davidsonhotels.com.

Ware Malcomb Announces Completion of Kilroy's Sabre Springs Office Campus in San Diego, CA

  

Tiffany English

SAN DIEGO, CA Aug. 5, 2019 – Ware Malcomb, an award-winning international design firm, today announced construction is complete on the redevelopment of the Kilroy Sabre Springs office campus located at 13480, 13500, & 13520 Evening Creek Drive North in San Diego.

Ware Malcomb provided architecture and interior design services for the project.

The 450,000 SF campus includes three six-story office towers.  The project entailed the transformation of 30,000 SF of lobbies, restrooms, and common areas to activate multiple indoor and outdoor amenity spaces and attract new tenants.

“The Kilroy Sabre Springs campus has been completely reinvented as a highly desirable place to work and play for both new and existing tenants,” said Tiffany English, Principal of Ware Malcomb’s San Diego offices.

 “By bringing world-class dining and other amenities to this busy office campus, Kilroy’s Sabre Springs project has become a leading destination for San Diego businesses.”

Florence Chadwick

The heart of the Kilroy Sabre Springs campus is a culinary hub that offers an all-day dining experience. The new restaurant, The Florence by San Diego-based Legal Restaurants, is designed to provide a variety of eating and drinking options from grabbing a quick breakfast to sharing a cocktail after work.

 Named after the late San Diego swimming legend Florence Chadwick, the decor honors her accomplishments, which include being the first woman to swim both directions of the English Channel.

The General Contractors for the project were DCT, Burger Construction and Bycor.

CONTACTS:

Rachel Reenders

VP Public Relations

 KCOMM for Ware Malcomb

Rachel@kcomm.com 

Kelly Teenor, Director, Marketing, 949.660.9128, kteenor@waremalcomb.com

Maureen Bissonnette, Associate Principal, Marketing, 949.660.9128, mbissonnette@waremalcomb.com

Southern Lodging Summit Names Chuck Pinkowski Honorary Duck Master for 17th Annual Conference Aug. 27--28 in Memphis, TN

Chuck Pinkowski

MEMPHIS, TN, Aug. 5, 2018—Officials of the Southern Lodging Summit, an annual gathering of hoteliers specializing in development and operations in the southern United States, today announced that Chuck Pinkowski, owner of Pinkowski & Company and conference co-founder, has been named Honorary Duck Master for this year’s conference being held August 27-28, 2019, in Memphis, Tenn.

Wayne Tabor

“Without Chuck, there would be no Southern Lodging Summit,” said Wayne Tabor, president, Metropolitan Memphis Hotel Lodging Association. 

 “In addition to helping create a full-fledged conference highlighting the role of Southern hotels in the overall hospitality landscape, Chuck and his team tirelessly work each year to produce one of the best conferences in the industry.  

"He consistently finds the ideal balance of education and entertainment to keep hoteliers with Southern interests firmly on the edge of their seats.  For this and so many other reasons, we felt now was the perfect time to show Chuck our appreciation.”

Annual Duck Parade, Peabody Hotel, Memphis, TN

Hosted at the Peabody Hotel, the Duck Master ceremony has become a tradition of the Southern Lodging Summit.  Each year, a longstanding industry professional who has devoted substantial parts of her/his career to promoting the Southern hospitality industry is chosen by committee to receive the honor.  

Jack DeBoer

Following a unique presentation ceremony, the recipient leads the Peabody’s world-famous ducks from the hotel’s inner fountain to their rooftop enclosures.

“Having helped launch the Southern Lodging Summit with some of the industry’s finest hoteliers, it is an honor to be named the Peabody Hotel’s Honorary Duck Master for our 17^th annual event,” said Pinkowski. 

“This accolade has been awarded to some of the most important people in the hospitality industry, from Jack DeBoer to Jim Burba, and I am humbled to be considered in their league. 

" I will continue to advocate for Southern hospitality in all aspects of my career and personal life as the only way to do business in our industry.”

Jim Burba

Celebrating its 17^th year, the Southern Lodging Summit was co-founded by Pinkowski & Company, an independent hotel industry consulting firm headquartered in Memphis, and Metropolitan Memphis Hotel & Lodging Association.  

The hospitality industry event brings together hotel professionals who target the southern and mid-south region of the United States for development and operations.  The annual event draws a diverse group of owners, operators, sales executives, financial institutions, architects, attorneys, and hotel company representatives.

CONTACTS:

PATRICK DALY

OFFICE MANAGER

DALY GRAY PUBLIC RELATIONS, INC.

620 Herndon Parkway, Suite 115 | Herndon, VA 20170

Main: 703-435-6293

Mobile: 703-300-8289

patrick@dalygray.com | www.dalygray.com

  Chris Daly, media

  (703) 435-6293

  chris@dalygray.com

Gaw Capital and DJM Acquire Hollywood & Highland; the Landmark Los Angeles shopping center to be reimagined

Hollywood & Highland, at 463,000-SF, the 7.6-acre property is one of the country’s busiest and most acclaimed shopping centers.

LOS ANGELES, CA, Aug. 5, 2019 --(BUSINESS WIRE)--DJM, a San Jose-based private equity real estate and development firm, and Gaw Capital USA, a Hong Kong and Los Angeles-based real estate private equity firm, announced ownership of Hollywood & Highland, one of the country’s busiest and most acclaimed shopping centers.

DJM and Gaw Capital have acquired the 463,000 square foot shopping destination for an undisclosed amount.

Jerry Tang

Natixis financing team led by Jerry Tang and Greg Murphy provided the financing package which included acquisition loan along with the future funding component.

Both DJM, a leading U.S. commercial real estate developer and asset manager with decades of experience in the Southern California market, and Gaw Capital, an industry leader globally known for adding strategic value to under-utilized real estate, have extensive experience specializing in the redevelopment and repositioning of iconic assets.

DJM and Gaw Capital formed a partnership playing to their respective strengths: Gaw Capital’s strength in capital markets and successful repositioning of assets around the world, and DJM’s deep understanding of the Los Angeles market, experiential retail and development.

Greg Murphy

 Advised by Eastdil Secured, Hollywood & Highland is the largest single-asset retail transaction to take place outside of Manhattan in nearly three years.

Together, the partners plan to reimagine the 7.6-acre site over the next 24 to 30 months.

Built in 2001, the project sits at the crossroads of Hollywood & Highland, one of the country’s busiest and most acclaimed shopping centers and adjacent to the acclaimed TCL Chinese Theater. 

Drawn to this covetable location and high-traffic volume, the team will upgrade the retail hub and focus on rebranding, upgrading common areas with an eye to creating more desirable gathering and programming spaces, ramping up entertainment events, optimizing the merchandise mix and incorporating new concepts and uses that bring excitement to retailers, visitors and other tenants at the property.

Stenn Parton

“The retail landscape has shifted, consumer tastes have adapted, and ‘New Hollywood’ is constantly redefining itself,” said Stenn Parton, Chief Retail Officer at DJM.

“With Hollywood & Highland, we at DJM and Gaw Capital are eager to seize the opportunity to create, in the heart of Los Angeles, an environment where the iconic allure of ‘Old Hollywood’ meets the modern innovation of new media.”

“Our opportunity as the new stewards is to make Hollywood & Highland a 21st century destination—one that offers visitors a piece of Hollywood that is grounded by the needs of the modern consumer,”

Goodwin Gaw

Parton added. “A fresh design and rebrand bolstered by relevant global brands, top-of-the-line food and beverage experiences, and a state-of-the-art digital concept is merely the beginning of our plans.”

Goodwin Gaw, Chairman and Managing Principal of Gaw Capital Partners, was a pioneer in Hollywood with his purchase and redevelopment of the Hollywood Roosevelt Hotel in 1995, just one block away from Hollywood & Highland.

About the acquisition, he said, “We are delighted to be partnering with DJM to acquire this iconic asset in Hollywood.

"Hollywood & Highland has enormous potential given its fantastic location at the gateway to new Hollywood.

"It is also next to Hollywood Roosevelt, our first refurbishment project that has long been recognized as an iconic, one-of-a-kind lifestyle hotel forged with distinction in Hollywood’s history.

"It marks an important milestone for Gaw Capital in the Los Angeles real estate market.

Dan Lee

"We look forward to working with DJM to enhance the asset by leveraging the digital content revolution and innovative technology, to re-imagine this complex to become the new ‘town center for the Hollywood community’.

"We would also like to express our sincere gratitude to our co-investors for their tremendous support and trust us to make this transaction happen.”

According to Gaw Capital Managing Director Dan Lee, “Being based in LA, we’ve built amazing relationships with truly talented people, operators and companies that span various creative fields, whether it be in entertainment, food, arts or sports.

"We’re excited about pulling from those experiences and relationships to create something extraordinary at Hollywood & Highland.

"Much like how DJM has done at their properties and we have with ours, our partnership’s intent is to make Hollywood & Highland a destination where our visitors, including locals, feel they had a unique, exciting and fulfilling experience.”

Bradbury Building, Los Angeles, CA

Gaw Capital currently manages over US$23 billion in real estate assets globally as of 1Q19 (US$6.5 billion specifically in retail) and has invested and developed for over twenty years in unique Los Angeles assets, including the Bradbury Building, LA Football Club’s headquarter building, television and film studios, music venues, and restaurants such as Majordomo.

Renovations are slated to begin in 2020, with completion expected in 2021.

Contacts

DJM 
Casey McDonald
casey@theleadpr.com 
310-403-3447

Gaw Capital 
Camille Lam
Tel: +852 2583 7717/+852 9884 9198
Email: camillelam@gawcapital.com