Sunday, May 24, 2020

Ware Malcomb Project in Downtown Los Angeles Wins Gold Award for Best Medical Project

Rendering of  Downtown West Medical Center located at 1120 West Washington Boulevard in downtown Los Angeles, CA

IRVINE, CA – Ware Malcomb, an award-winning international design firm, announced one of its projects, Downtown West Medical Center located at 1120 W. Washington Boulevard in downtown Los Angeles, has won a 2020 Commercial Real Estate Award from the Los Angeles Business Journal.
Ware Malcomb provided architectural design and civil engineering services for the project, which was managed out of the firm’s Irvine, Calif.-based headquarters office.
Downtown West Medical Center was awarded the Gold Award for Best Medical Project at the prestigious annual award ceremony. 
Michael Petersen
The four-story, 60,000 square foot Class A medical office building provides a state-of-the-art wellness campus and enhanced outpatient services to the surrounding downtown LA community.
The new outpatient facility has been fully leased to HealthCare Partners, which is now Optum Medical Group after the recent acquisition by Fortune 500 firm UnitedHealth Group.

“This award underscores Ware Malcomb’s leadership in medical office design, as well as the synergy of our firm-wide resources," said Michael Petersen, Principal of Ware Malcomb’s Health & Science practice in the Irvine office.
"The urban infill location and footprint of this project, combined with the very specific tenant requirements of a modern medical office building posed unique design challenges that were addressed through collaboration with Ware Malcomb’s healthcare architecture and civil engineering teams.”
 Luke Corsbie, Director, Civil Engineering in Ware Malcomb’s Irvine office, added:
Luke Corsbie
 “We worked closely with the project partners and our in-house architecture team to negotiate the challenges associated with Low Impact Development (LID) requirements in a dense urban setting to allow flexibility in maximizing the use of the limited site area. 
"The result was a drywell with oversized conveyance pipes to meet both the volume requirements and the preferred means of managing the “first flush."
The project owner is Robhana Group, and the developer is Inception Property Group. The general contractor for the project was Oltmans Construction Company

 For more information, visit and view Ware Malcomb’s Brand Video at


Rachel Devany
VP Public Relations
 KCOMM for Ware Malcomb

Maureen Bissonnette
 Associate Principal

Ware Malcomb Irvine
10 Edelman
Irvine, CA 92618
p. 949.660.9128

CBRE Hotels Research Forecasts Full Demand Recovery by Late 2022

"I see...hotel guests...more guests...still more guests...keep 'em coming, Oscar..."

Atlanta, GA –– After suffering the greatest performance declines in the history of the U.S. lodging industry during 2020, the nation’s hotels will benefit from what is expected to be a relatively rapid economic turnaround in 2021 and 2022, according to the June 2020 edition of CBRE’s Hotel Horizons forecast report.

Jamie Lane

 CBRE foresees demand for U.S. lodging accommodations returning to precrisis levels in the third quarter of 2022. However, a lag in ADR (average daily rate) growth will stall the recovery in RevPAR (revenue per available room) until 2023.

 “The U.S. lodging sector has been hit by two headwinds in 2020: a contraction in overall economic activity and the need for social distancing,” said Jamie Lane, Senior Director of CBRE Hotels Research.

“Accordingly, our current forecast calls for a 37 percent reduction in the number of room nights occupied in 2020 compared to 2019. There is some comfort knowing that travelers will be back on the road in full force within two years.”

 U.S. hotel occupancy levels are projected by CBRE to decline as low as 26.2 percent during the second quarter of 2020.

Bram Gallagher

CBRE forecasts an annual occupancy level of 41.0 percent for 2020, and that luxury hotels will experience the lowest 2020 annual occupancy, at 33.4 percent. 

Conversely, economy hotels are projected to achieve the highest annual occupancy level, at 46.4 percent.

Consistent with prior recessions, the severe declines in demand have sapped pricing. Based on data from STR, the national ADR level in April 2020 dropped 44 percent compared to April 2019.

 “The decline in occupancy only partially explains the weak ADR,” Mr. Lane said.

“Low occupancy levels and closures within the upper-priced segments will result in a disproportionate percentage of total U.S. demand accommodated at the lower-priced segments in 2020. 

"Conversely, in 2021, most of the new demand will be accommodated at reopened upper-priced properties at higher room rates. This skews the ADR growth rate upward.”

 The significant decrease in occupancy, combined with a forecast 22.5 percent drop in ADR for the year, results in a projected decline in RevPAR of 51.9 percent in 2020.

Looking forward, CBRE sees U.S. RevPAR surpassing its 2019 level in 2023 fueled by the rise in demand and occupancy. ADR, on the other hand, will lag in its recovery until 2024.

 The Turnaround

 Based on CBRE’s forecast, the pace of declining occupancy, ADR, RevPAR and demand is expected to begin lessening during the third quarter of 2020. Year-over-year growth in each measure is anticipated by the second quarter of 2021.

 “Although the trough in 2020 lodging performance will be much deeper than anything we’ve seen in the past 80 years, much of this decline is not caused by underlying fundamental economic problems,“ said Bram Gallagher, Senior Economist with CBRE Hotels Research.

 “Once social gathering restrictions are lifted, an expected return to the strong underlying economic conditions that existed before 2020 will restore economic production.”

A critical factor driving the lodging recovery is a reduction in the number of new COVID-19 cases.

 In the event of a prolonged need for social distancing and a persistent occurrence of new COVID-19 cases, CBRE has developed a forecast of a hypothetical downside scenario in which the recovery in RevPAR to precrisis levels is pushed out to 2025.

 “Drive-to leisure destinations have been the first markets to show signs of recovery,” Mr. Lane said. 

 “When people can drive in their own car, and then go directly into their own room, they have a sense of control and safety.

"Hotels oriented toward group meetings will likely lag in recovery as meeting attendees get reacclimated to being close to large numbers of people.”

 While the demand for U.S. lodging is forecasted to return to precrisis levels in the third quarter of 2022, the national ADR is not expected to recover on a nominal basis until the third quarter of 2023. 

 However, even by 2023, less than half of the 60 markets in CBRE’s Hotel Horizons universe are expected to have achieved an ADR recovery. 

 “The resiliency of owners and operators will be tested this year, and government and financial assistance will be required,” Mr. Lane said.  “However, I believe the industry will be pleased with the pace of the recovery when we perform our retrospective analysis in the years to come.”

 The June 2020 edition of Hotel Horizons® for the U.S. lodging industry and 60 major markets can be purchased by visiting:

To view CBRE Hotels’ latest analysis of the impact of COVID-19 on the lodging industry, please visit: 

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue).

The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide.

CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.

Please visit our website at

 Media Contact:

Chris Daly
Daly Gray Public Relations
703 435 6293

JLL arranges sale and financing for Houston, TX retail center

Katherine Miller

Ryan West
HOUSTON, TX – JLL Capital Markets announced it has closed the sale and arranged acquisition financing for Rayford Village, a 19,950-square-foot, fully leased retail center in the north Houston-area suburb of Spring, Texas.

 JLL marketed the properties on behalf of the seller, BNS Rayford Partners, LP, represented by Adam Soffar and Rob Naggar. Additionally, working on behalf of the new owner, JLL placed the 10-year, fixed-rate acquisition loan with First Community Credit Union.

 Rayford Village comprises two adjacent buildings that are home to a variety of national and local retailers, including Cole Veterinary Services, SK Salon, Goodwill, Pizza Hut, Papa John’s, DC Cleaners and Nail Bar.

Situated on 2.7 acres at 2725 and 2757 Rayford Rd, the property’s surrounding retail is one of the fastest-growing residential areas in Houston.
John Indelli 

More than 64,500 residents earning an average annual household income of $114,757 live within a three-mile radius, and that population is projected to increase nearly 15 percent to 73,689 by 2024.

Additionally, Rayford Village is proximate to some of the city’s top corporate headquarters, multiple schools and the Grand Parkway, Houston’s newest outer loop.

 The JLL Retail Capital Markets team representing the seller was led by Senior Managing Director Ryan West, Director John Indelli and Analyst Katherine Miller.

 The JLL Capital Markets debt placement team representing the new owner included Senior Director Michael Johnson and Analysts Stuart Hepler and Trey Pizzitola.

Michael Johnson 
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization.

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

 For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

 Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.

 About JLL
 Stuart Hepler 

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.

 JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.

JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019.

 JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

Trey Pizzitola

 For further information, please visit

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.


Kimberly Steele
 JLL Senior Associate
 Public Relations
Phone: +1 713 852 3420

JLL arranges $10.296 million financing for British Woods, a 130-unit townhome and garden-style multi-housing community in suburban Knoxville, TN

British Woods is located at 301 Briarcliff Avenue, approximately 20 miles northwest of downtown Knoxville, TN

CHICAGO, IL – JLL Capital Markets announced it has arranged a $10.296 million refinancing for British Woods, a 130-unit multi-housing community in Oak Ridge, Tennessee.

JLL worked on behalf of the borrower, MZ Capital Partners, to secure the 10-year, fixed-rate loan through Freddie Mac. The loan will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo℠ lender.

British Woods is located at 301 Briarcliff Avenue approximately 20 miles northwest of downtown Knoxville.

Matthew Schoenfeldt
The recently revitalized property is positioned on a 10-acre site close to West Knoxville, The Oak Ridge National Labs and the Y-12 National Security Complex.

 British Woods offers one-, two- and three-bedroom layouts in both townhome and garden-style homes.

 Amenities at the 98%-leased, pet-friendly community include a swimming pool, fitness center, clubhouse, bark park and nearby walking and biking trails.

The JLL Capital Markets team representing the borrower was led by Managing Director Matthew Schoenfeldt.

“The principals of MZ Capital Partners have a proven formula for adding value and enhancing communities,” Schoenfeldt said. “British Woods is a shining, flawlessly-executed example of this strategy.”

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.


Kristen Murphy
JLL Senior Manager
 Public Relations
Phone: +1 617 848 1572