Hospitality Ventures Management Group (HVMG) Names Brian Young Executive Vice-President, Investments and Chief Financial Officer

Brian Young

ATLANTA, GA —Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, named Brian Young executive vice-president, investments and chief financial officer. 

  In the newly created role, Young will be leading HVMG’s finance, investor relations and financial reporting areas, and he will have a significant role leading and supporting HVMG’s aggressive growth plans around acquisitions, investments, joint-ventures and M&A activity.

 “Brian honed his knowledge and skillset through key leadership positions at Interstate Hotels and Resorts, the nation’s largest hotel operator, during the company’s high growth and transformational years,” said Robert Cole, president & chief executive officer, HVMG. 

Robert Cole

“His experience, skill set and accomplishments are the perfect fit for what we were looking for.  More importantly, he is a strong cultural fit with our existing leadership team. 

 "We interviewed many highly-qualified people for this role, and Brian clearly emerged as the lead candidate through a very thorough search and vetting process.”

 Prior to joining HVMG, Young held multiple, increasingly important positions and received several promotions over the course of his nearly 18 years with Interstate Hotels & Resorts & Aimbridge Hospitality, including senior director, finance, culminating with senior vice-president of development and acquisitions. 

  While there, he oversaw platform acquisitions, individual hotel acquisitions, management contracts, dispositions and related activity including raising equity. 

  He also was instrumental in the negotiations, closing and successful integration of companies such as Rim Hospitality and Noble Management Group that allowed Interstate to expand its geographic footprint. 

  Young received his bachelor’s in business administration, focusing on finance, from James Madison University.

    Contact:

CHRIS DALY

PRESIDENT

DG Public Relations, LLC

42806 Oatyer Court

Broadlands, Va. 20148

Main: 703-435-6293

Mobile: 703-864-5553

 chris@dalygray.com | www.dalygray.com

www.hvmg.com 

 

Reserve at Waterford Lakes in Charlotte, NC sold to Eller Capital Partners

Andrea Howard

CHARLOTTE, NC – JLL Capital Markets announced it closed the $21.75 million sale of the 140-unit Reserve at Waterford Lakes multi-housing property in Charlotte, North Carolina.

John Currin

 JLL represented the seller in completing the sale to the buyer, Eller Capital Partners.

 Largely unrenovated, Reserve at Waterford Lakes features one- and two-bedroom options with differentiated features such as elegant built-in shelving, crown molding and semi-open concept floorplans.

Community amenities include a pool, clubhouse, picnic and grilling areas, fitness center, Bark Park and a business center.

 The apartments are located at 8725 Kody Marie Court and positioned near many restaurant, nightlife and retail options, and just 20 minutes from the bustling Downtown Charlotte.

Nearby are prominent neighborhoods poised for continued growth, including SouthPark and Quail Hollow, and within walking distance, the Lynx Blue Line, which offers additional access across the Charlotte area.

Allan Lynch

 The JLL Capital Markets team representing the seller was led by Andrea Howard, John Currin, Allan Lynch, Caylor Mark and Jeff Glenn.

 “Reserve at Waterford offers a boutique community-feel with some of the most well-designed floorplans in the Charlotte market,” said Howard.

 “The stewardship of the seller over the last 13 years has the asset positioned perfectly for future interior renovations that will allow the property to compete head-on with South Park and Quail Hollow rental options.”

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

Caylor Mark 

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales 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 our newsroom.

 About Eller Capital Partners

Chapel Hill, NC based Eller Capital Partners is a private equity real estate firm focused exclusively on investing in multifamily assets that are located in the growing regions of the southeastern United States.

Jeff Glenn

Since 2011, Eller has acquired over $375 million of well-located properties, applying a vertically integrated, value-added approach to optimize the performance of each asset.

Eller has a senior management team that offers over 100 years of experience in the multifamily industry and has been directly and meaningfully involved in real estate transactions totaling well over $2 billion.

The company has expertise in all aspects of real estate acquisition, renovation, construction management, property management, asset management, fund management and disposition.

 

 

  Contact:

 Natalie Passarelli

Phone: +1 224 477 7307

Email:  Natalie.Passarelli@am.jll.com

 https://www.ellercapital.com/.

Capital market interest rates should remain steady for now, predicts Real Estate Capital Institute

John Oharenko 

Chicago, IL – Mid-winter capital markets demonstrate steady rates. Since the beginning of the year, longer-term treasuries barely climbed by more than ten basis points – staying in the 100-basis-point range. 

 Fed policy remains unlikely to radically change under the new presidential administration as rates stay unchanged per last month's meeting. Interest rates should remain steady for now. 

 That said, major realty capital market trends for this year include the following:

 Property Types: Attractive lending options and low-interest rates will further support acquisition activity, especially for most multifamily and industrial properties. However, investors continuously seek creative solutions for the survival of other CRE property types. For example, the lodging industry struggles as virus concerns cripple the business and leisure travel, yet multifamily conversions may solve this occupancy dilemma. 

Retail assets remain plagued by the dramatic shift to online shopping, but more retailers respond with higher service levels by offering curbside and online order pickup. Ample Funds: Lenders are awash with mortgage capital for well-performing CRE. As a result, expect tight spreads with low-interest rates to fuel more attractive financing opportunities this year.

 Specially-targeted properties (e.g., affordable and senior housing) will outperform other mortgage pricing sectors, as minimal inventory remains a vexing problem.

 Funding Sources: Agencies, banks, life companies, and conduits actively participate in the real estate capital markets. Agencies exceeded production goals last year, expecting to capture more production this year. Banks remain committed to short-term lending, and local institutions fund entrepreneurial deals. LifeCos offers ample long-term debt options, directly competing with agencies and conduits, especially pricing vs. leverage. In contrast, conduits and debt funds offer more favorable leverage with higher pricing.

Pricing: On track with mortgage pricing seen in 2020, longer-term debt can be captured at pricing below 150 basis points for prime-quality assets – mainly apartments and industrials. Otherwise, most mortgages offer pricing of 150 to 200 basis points for higher leverage loans (65%-75% LTV) and other types of CRE asset classes. More recently, some lenders search for more aggressive risk-adjusted returns above 200 basis points by funding conversions, new construction, and re-lease projects. 

 John Oharenko, the Real Estate Capital Institute's director, suggests, "Lenders and investors alike, continue to be surprised by the resiliency of the realty capital markets. Finding deals remains as challenging as ever." 

 The Real Estate Capital Institute® is a volunteer-based research organization that tracks realty rates data for debt and equity yields. The Institute posts daily and historical benchmark rates, including treasuries, bank prime, and LIBOR.

 Contact: 

 John Oharenko 

Executive Director 

director@reci.com

john.oharenko@reci.com

www.reci.com

The Real Estate Capital Institute® Chicago, Illinois USA 60622