JLL boosts Valuation Advisory hospitality practice with key hire of Brian Testorf

 

Brian Testorf 

BOSTON, MA – JLL announced that Brian Testorf has joined the firm as a Vice President in the Valuation Advisory group’s Hotels & Hospitality practice.

 Testorf will report directly to Managing Director Charlotte Kang, who is the national Hotels & Hospitality practice lead for JLL Valuation Advisory.

 In this newly created role, Testorf will work alongside Kang to provide clients hotel valuations, appraisals, market and impact studies, market feasibility advisory, buy-side due diligence, and portfolio valuation and consulting services.

Charlotte Kang

“We are thrilled to welcome Brian to the hotel valuation and advisory team,” Kang said. “As we expand strategically across the country, Brian’s focus as a hotel specialist fits in very nicely with the skillset and experience our clients have come to expect and trust from our group.

 "As we continue to pursue our ambitious goals, Brian will be a great resource in strengthening the platform’s presence in the New England region.”  

 Testorf comes to JLL from LW Hospitality Advisors, a boutique hotels & hospitality valuation and asset management firm where he was a Senior Associate focused on appraisals and feasibility studies of more than 150 hotels across the U.S.

Zach Bowyer

“Our growth strategy includes bringing in top talent to best leverage JLL’s market leading platform technology and database," said Zach Bowyer, Head of Alternative Real Estates Sectors for JLL Valuation Advisory.

"Brian is a rising star within the hotels sector and will be a key part of our mission to enable our clients to make the fastest, best informed decisions related to their real estate interests,”

 

CONTACT:

Kristen Murphy, JLL Senior Manager, Public Relations

Phone: +1 617 848 1572

Email:  Kristen.Murphy@am.jll.com

Donohoe Hospitality Services Names Chef Malcolm Mitchell Corporate Director of Restaurants and Bars

 

Chef Charles Mitchell

 BETHESDA, MD – Thomas Penny, III, president of Donohoe Hospitality Services, a division of Donohoe, has named Chef Malcolm Mitchell corporate director of restaurants and bars.

 

 In the newly created role, Mitchell will be responsible for overseeing the F&B experience for the existing portfolio, as well as creating new concepts for upcoming developments.

 

“Chef Mitchell’s commitment to the highest culinary standards is outmatched only by his desire to share his love of food and drink with everyone he meets, ideal qualifications for a corporate director of restaurants and bars,” Penny said.

Chef Mitchell at work

 

“Donohoe is committed to amplifying the food and beverage experience at each of our hotels as we firmly believe it both improves the guest experience and bottom-line profitability. 

 

 "Our restaurants are concepted and designed as true neighborhood establishments for locals as well as our guests, not merely check-list concepts to meet some brand requirement." 

 Thomas Penny, III

With more than 25 years of culinary experience, Mitchell is an award-winning chef and author whose work has been showcased at the Food & Wine Classic Aspen, Food Network Wine & Food Miami and the Black Chef Series.

 

Prior to joining Donohoe, he was executive chef/owner of The M Chef Group – New York.  He has appeared on several national cooking shows, including, “Food Networks Beat Bobby Flay,” “NTDTV Celebrity Chef Chinese Competition” and most notably as a Season 8 “Next Food Network” semi-finalist. 

 

Mitchell also served as an adjunct professor for Prince Georges Community College.  He received his Advanced Culinary Arts Degree from Stratford University.

 

 

 CONTACT:

 

Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.dalygray.com

 

 www.donohoe.com/hospitality.

The Real Estate Capital Institute® notes pandemic continues to keep commercial real estate interest rates low

John Oharenko

Chicago, IL – COVID continues to dominate world headlines.  The news of the fresh Omicron variant resulted in a 2.5% drop in the stock market during the Thanksgiving holiday.

 Benchmark interest rates tumbled about fifteen basis points in step, with the stock market decline after steadily climbing much of the month based on inflation fears.

 

As the pandemic continues to keep interest rates low, real estate investing remains challenging. 

 Lenders and borrowers alike maintain large cash stockpiles, maintaining pricing extremely competitive on nearly all types of realty assets.

 

  So, where are the opportunities for investing in this sector?  Some areas include the following:

 

Workforce Housing:  Older, more management-intensive workforce housing based on affordable rents still provides some profit opportunities.  Investors should expect heavier capital investments on an ongoing basis.  In return, overall investment yields in the teen range still are attainable.

Localization:  Investors continue flocking to Sunbelt markets.  As a result, more opportunities abound for smaller, local ventures in the Midwest and other less glamorous markets.  Yield premiums of fifty to two-hundred-basis points or more can be had.

Small-scale:  Institutional investment capital chases the highest quality, core assets of $20 million or more.  Meanwhile, mid-size deals of $5 to $10 million attract substantial interest from local and regional firms.

 

  However, smaller investments below the $5 million thresholds still present less efficient markets for investors to capture additional yields, sometimes above 400 basis points.

 

The Real Estate Capital Institute's Director, John Oharenko, advises, "Some of the most attractive realty investments include smaller, local workforce housing.  Investors with strong local presence and efficient property management capitalize on such opportunities."

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

john.oharenko@reci.com

director@reci.com / www.reci.com

 

DAUM Commercial Brokers 51,908-SF Lease in Tijuana, Mexico

 Los Pinos II, built in 1990, 
is ideal for a manufacturing
or assembly business. 

 

 TIJUANA, Mexico – DAUM Commercial Real Estate Services has completed the lease of a 51,908 square-foot standalone industrial facility, Los Pinos II, situated on 1.85 acres of land in the central Baja California submarket of Tijuana, Mexico, on behalf of the lessee, Pacific Transformer.

 

Los Pinos II is located at Gustavo Díaz Ordaz 18803 in Tijuana, Mexico.

Anthony Bergeman

The new tenant, an Orange County, California-based manufacturer that specializes in distribution transformers for medical, military, and automotive products, is expanding within Mexico and will increase its local operations capacity by 300% with this lease, according to Anthony Bergeman, SIOR, an Executive Vice President and Principal at DAUM Commercial.

“Based on ongoing trends related to quality control and time-to-market, compounded by recent severe supply chain disruptions, many U.S.-based firms are shifting a larger percentage of their overseas manufacturing operations to North America, especially to areas that are in close proximity to transportation routes,” explains Bergeman. 

 Arturo Valdes

“Responding to our Client’s need for a larger facility to grow their Mexico operations, we were able to identify this property in Baja California, ideally located just 40 minutes from the U.S./Mexico border near several interstate and international highways to facilitate convenient product distribution.”

“Drawing upon close industry relationships, we cooperated with fellow SIOR Broker Arturo Valdes of NAI Mexico to source the opportunity for Pacific Transformer to lease this high-quality asset within a supply-constrained market,” says Bergeman.

 “While the building was still occupied, a termination agreement was reached and we were able to negotiate immediate occupancy for our Client once the existing tenant vacates.”

The industrial asset is further situated within a matured industrial zone near residential areas with an ample pool of skilled workers, Bergeman notes.

CONTACTS:

 

 

Arleeny Escarcega / Elisabeth Manville  

The Smart Agency, Inc.

(949) 438-6262

aescarcega@thesmartagency.com