Thursday, May 14, 2009

Cassidy & Pinkard Colliers Team with Gensler to Design a New Office in NW Washington, DC

WASHINGTON, DC -- Cassidy & Pinkard Colliers, one of the country's leading full-service commercial real estate firms, with expertise in sales, financing, leasing, property management, and project management hired longtime partner, Gensler, to assist with real estate evaluation, space planning and design for the new 100-person office.

The result is Cassidy & Pinkard Colliers’ award-winning DC workplace, the recipient of the 2009 Pinnacle Award. The Pinnacle award is the most prestigious design honor bestowed by the International Interior Design Association.

Gensler reviewed various real estate options throughout the DC metro area before recommending that Cassidy & Pinkard Colliers lease 27,000 square feet of space in a newly renovated downtown building located at 2101 L Street, NW.

The unfinished shell allowed the design team to think strategically about creating a sophisticated office space that accurately reflected the client’s brand while providing functional areas for client meetings and entertainment, and a space that supports employee collaboration and workplace satisfaction.

The design team was also tasked with implementing construction and design practices in order to seek LEED certification. Rand Construction served as the general contractor.

Contact: Maureen Wheeler, Vice President of Corporate Marketing/Communications, Cassidy & Pinkard Colliers, 202.463.1138, Maureen.Wheeler@cassidypinkard.com

Arbor Closes Over $5M in New Fannie Mae Loans


Melbourne Park 3 Apartments in Greenville, NC Receives $3,442,500 Fannie Mae DUS® Loan

UNIONDALE, NY--- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $3,442,500 loan under the Fannie Mae DUS® Loan product line for the 72-unit complex known as Melbourne Park 3 Apartments in Greenville, NC. (top left photo)

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.10 percent.

The loan was originated by John Edwards, (top right photo) Vice President, in Arbor’s full-service Boston, MA lending office.
“The financing of Melbourne Park 3 highlights Arbor’s ability to structure a loan on a phased property with a strong repeat client and a solid property condition,” said Edwards.
Courtyard Apartments in Gretna, LA Obtains $1.8M Loan

UNIONDALE, NY--- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,800,000 loan under the Fannie Mae DUS® Loan product line to refinance the 84-unit complex known as Courtyard Apartments in Gretna, LA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.65 percent.

The loan was originated by Jay Porterfield, (bottom right photo) Vice President, in Arbor’s full-service Plano, TX lending office.
“Arbor provided a loan to refinance the existing, maturing loan on this property in New Orleans,” said Porterfield. “We were pleased to provide competitive, fixed-rate financing for this particular borrower, a wonderful organization that provides affordable housing options.”

Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/

Construct Two Group only African American firm ranked among Central Florida’s largest construction companies

ORLANDO, FL— Construct Two Group is the only African American- owned construction company listed among Central Florida’s 25 largest construction companies in a recent poll conducted by Orlando Business Journal.

The annual survey ranked construction companies based on 2008 operating revenues for Central Florida projects. Published in the journal’s April 3 – 9, 2009 issue, Construct Two Group came in 14th with 2008 revenues of $27.2 million.

“This achievement is a credit to our team and a reflection of our company motto to demonstrate daily to clients that we provide them with so much more,” said Construct Two President/CEO Keith Williams.

Construct Two Group provides construction management, design-build and program management services to public and private sector clients. Having completed more than $500 million in projects since its founding in 1990, Construct Two Group is the largest African-American-owned construction management company in Florida.

The Company employs a professional and support staff of 31 from offices in Orlando, Tampa and Tallahassee, Fla. Please visit http://www.constructtwo.com/ for additional information.

Contact: Elaine Ingra, PR WORKS!, PH: 407 384-1344, elainei@pr-works.com, http://www.pr-works.com/

CORE Construction Florida Starts Marco Museum with Special Vault to Hold the Key Marco Cat

SARASOTA, FL --- More than a century ago, explorer Frank Hamilton unearthed an amazing cache of artifacts on Marco Island remaining from a Calusa Indian village inhabited from 500 A.D. to 900 A.D.

One of the artifacts---known as the Key Marco Cat (top right photo) ---is an amazing wood carving, somewhat reminiscent of Egyptian cat carvings, preserved by accident in an acid-free bog on the island.

CORE Construction Florida was recently awarded a contract to build a new museum valued at more than $2.8 million for the Marco Island Historical Society with a special vault to preserve the treasured Key Marco Cat.

The project includes an 11,000 square foot building for the museum and administrative offices and a separate 6,242 square foot building for a “Living History Hall,” Wiseman said.

John Wiseman, (middle left photo) president of CORE Construction Florida, said the new museum will open in January, time to celebrate the 100th anniversary of Marco Island.

The Key Marco Cat will reside in the museum on loan from the Smithsonian Institution.

CORE Construction has been in business since 1937 and ranks as one of the nation’s largest commercial contracting companies. CORE Construction is also active in Illinois, Nevada, Arizona and Texas. CORE Construction Services Southeast, Inc. has offices in Sarasota, Orlando and Naples.

For more information, please contact:

John P. Wiseman, President, CORE Construction, 6320 Tower Lane, Sarasota, FL 34240
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Foster Conant to design landscape for Wesley Chapel Medical Center

ORLANDO, FL— Foster Conant & Associates was selected by HuntonBrady Architects to provide landscape architecture for the new Wesley Chapel Medical Center underway in Wesley Chapel, Fla.


Foster Conant is providing design, construction documents and construction observation for landscape, irrigation, hardscape, landscape lighting and site furnishings for the 51-acre site.

This phase of the medical complex is composed of a freestanding, three-story, 250,000-square-foot acute care hospital with 80 beds, diagnostic and treatment departments, and support services, a three-story, 100,650-square-foot medical office building, infrastructure and access roadways.

Plans call for the design of two healing garden spaces on the grounds of the complex. The amount of Foster Conant’s contract is undisclosed.

“We are currently in the concept design phase of this project,” said Foster Conant Principal Keith Oropeza, ASLA. “The construction observation portion of our contract will be scheduled into the overall construction of the access roadway and buildings.”

Pasco-Pinellas Hillsborough Community Health System Inc., a joint venture of Adventist Health System and University Community Health, is the owner and developer of Wesley Chapel Medical Center.



The Florida-based architectural and engineering design team includes HuntonBrady Architects, Orlando; BBM Structural Engineers, Longwood; Smith Seckman Reid Inc., Sarasota, mechanical, electrical, and plumbing engineering; and King Engineering Associates, Tampa, civil engineering.


For an extensive presentation of projects, please visit http://www.fosterconant.com/.

Contact: Elaine Ingra, PR WORKS!, PH: 407 384-1344, elainei@pr-works.com, www.pr-works.com

Marshall Hotels & Resorts, Inc. Promotes Three on Senior Management Team

New Responsibilities Reflect Company’s Growth Strategy

SALISBURY, MD– Officials of Marshall Hotels & Resorts, Inc., a leading, Maryland-based hotel management and services company, announced the promotions of Ben Seidel (top right photo) to chief operating officer, Michael Getzey (middle right photo) to president of the company’s newly formed construction and renovation division, and David Harvill (top left photo) to executive vice president of accounting.

The three promotions reflect the company’s recent expansion and put the infrastructure in place to support the company’s future growth plans.

“Ben, Mike and Dave have a combined total of more than 75 years of hospitality industry experience and bring invaluable property, regional and corporate level know-how to our executive team,” said Michael Marshall, (bottom left photo) president and CEO of Marshall Hotels & Resorts, Inc.
“We have fortified our senior team and structured their responsibilities to optimize returns for our hotel owners. All three have proven track records of motivating those around them and successful operations management in all phases of the economic cycle.”

In his new role, Seidel will be responsible for overseeing the operations of the company’s more than 50 managed properties. He has more than 25 years of experience in full- and focused-service hotel, as well as convention center, management.

He has held operating positions with such well-regarded branded hotels as Marriott, Sheraton, Hilton, and Radisson. Prior to joining Marshall Hotels & Resorts, Inc. in 2006, Seidel oversaw a $300-million hospitality portfolio that generated more than $80 million in annual revenue.
He holds an undergraduate degree from West Chester University in Pennsylvania and received his certified hotel administrator (CHA) and certified hotel sales professional (CHSP) certifications from the American Hotel & Lodging Association’s Educational Institute.

Getzey is responsible for the company’s development and renovation division. Since joining Marshall Hotels & Resorts, Inc. in 1981, he has been integrally involved in acquisitions, hotel development and project administration. Getzey has consulted on numerous multi-million dollar hotel construction developments and overseen more than $25 million in hotel renovations.

He graduated from Delaware's Brandywine College and attended the Culinary Institute of America.

Harvill will head the company’s multi-faceted accounting and financing operations. With more than 20 years of experience in the hospitality industry, he has been a property controller, area controller, regional controller and assistant corporate controller for such hotel companies as Hilton, Starwood and Interstate Hotels.

While with Marshall Hotels & Resorts, Inc., he has been responsible for the company’s accounting discipline at the property and corporate levels, training, audit, information technology and consulting. Harvill has a bachelor’s degree in hotel management and a minor in accounting from Tompkins College.

“We increased our hotel portfolio with 15 contracts and oversaw more than $5 million in renovations last year, while our other properties generated a 5.1 percent increase in average RevPAR premium over their respective competitive sets,” Marshall noted.

“With these promotions, we now have the management depth and the appropriate infrastructure to continue to grow on a planned basis.”

Contacts:

Rick Day, Senior Vice President – Sales and Marketing, Marshall Hotels & Resorts, (410)749-8464, rday@marshallhotels.com

Jerry Daly, media, Daly Gray Public Relations, (703) 435-6293, jerry@dalygray.com

Tuesday, May 12, 2009

HFF arranges $5M refinancing for Houston area multifamily property

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $5.0 million refinancing for Deerbrook Garden, (top right photo) a 162-unit multifamily community in Humble, Texas.

HFF managing director Jeff Knowles (bottom left photo) worked exclusively on behalf of the borrower, Deerbrook Garden Apartments Ltd, to secure the 5.83% fixed-rate Fannie Mae loan with Wachovia Multifamily Capital, Inc.

The financing replaces an existing CMBS loan that was used to purchase the property in 2004.

Deerbrook Garden is located at 1230 FM 1960 East, in close proximity to Deerbrook Mall and Bush Intercontinental Airport approximately 18 miles northeast of Houston’s central business district.



Completed in 1983, the property includes one- and two-bedroom units with five different floor plans that feature a washer/dryer in every unit, wood-burning fireplaces and valet trash service. The property is managed by Houston-based Asset Plus Companies and is 100% occupied

Contacts:

B. Jeffrey Knowles, HFF Managing Director, (713) 852-3500 knowles@hfflp.com


Kristen M. Murphy, HFF Associate Director, Marketing (713) 852-3500 j krmurphy@hfflp.com

HFF arranges $13.6M refinancing for San Francisco Bay-area shopping center

SAN FRANCISCO, CA – The San Francisco office of HFF (Holliday Fenoglio Fowler, L.P.) announced today the recent closing of a $13.6 million refinancing for Novato Fair Shopping Center, (top left photo) a 133,860-square-foot retail center in Novato, California.

HFF managing director Bruce Ganong and associate director Zane Sweet worked on behalf of Kimco Realty Corporation to secure the three-year, adjustable-rate loan through Wells Fargo Bank.

Loan proceeds retired an existing loan that matured in April 2009.

Novato Fair Shopping Center is occupied by anchor tenants including Safeway, Rite Aid, Big Lots, and Pet Food Express. Situated on an 11.2-acre site, the property is located at the convergence of three main thoroughfares in Novato: Redwood Boulevard, Novato Boulevard and Diablo Avenue, approximately 30 miles north of San Francisco.

“The closing of this transaction is evidence that best-in-class properties with institutional quality ownership can still be financed at attractive terms,” said Ganong.

Kimco Realty Corporation, a real estate investment trust (REIT), owns and operates the nation's largest portfolio of neighborhood and community shopping centers.

As of December 31, 2008, the company owned interests in 1,950 properties comprising 182 million square feet of leasable space across 45 states, Puerto Rico, Canada, Mexico, and South America.

Publicly traded on the NYSE under the symbol KIM and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for 50 years. For further information, visit the company's web site at http://www.kimcorealty.com/.

Contacts:

Bruce Ganong, HFF Senior Managing Director, 415 276 6300, bganong@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,

Industrial Team at Southern Commercial Completes New 96,000-SF Lease

ORLANDO, FL (May 12, 2009) Principals Tom McFadden, SIOR and William “Bo” Bradford, CCIM, SIOR of Southern Commercial Real Estate Advisors completed a 96,000 square foot new lease at 7469 Kingspointe Parkway, Orlando, Florida.

McFadden and Bradford negotiated the two year new lease, representing the Landlord, TR Crownpointe Corp. The tenant, LG Electronics, USA was represented by Susan Ruby with Jones Lang LaSalle.

Contact: Celeste MacKenzie, 407 281 8503, cmackenzie@southerncommercialre.com

Monday, May 11, 2009

Marcus & Millichap Sells 4,160-SF Single-Tenant Net-Leased Building in Bradenton, FL

BRADENTON, FL, May 11, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of a CarMax Buying Center, (top left photo) a 4,160-square foot single-tenant net-leased property located in Bradenton, Florida, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office. The asset commanded a sales price of $1,395,000.

Michael Jaworski, (bottom right photo) an investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company located in Bradenton, Florida.

The buyer, who is a Pinellas County developer, was also secured and represented by Michael Jaworski.

CarMax Buying Center is located at 3808 West 14th Street, Bradenton, Florida. The property is an out parcel to Centre Pointe Commons, anchored by Lowe’s, and Best Buy.

Press Contact: Bryn D. MerreyRegional Manager, Tampa(813) 387-4700

Southern Commercial Brokers 54,250-SF Renewal/Expansion in Orlando

ORLANDO, FL.(May 11, 2009) Principals William “Bo” Bradford, CCIM, SIOR and Tom McFadden, SIOR of Southern Commercial Real Estate Advisors completed a 54,250 square foot renewal/expansion at 2126 W Landstreet Road, Orlando, Florida.

Bradford and McFadden negotiated the five year lease, representing the Landlord, GE Real Estate.

The tenant, Twin Med was represented by Deborah Mickler and Forrest Askew with Colliers Arnold.

Contact: Celeste MacKenzie, 321-281-8503 cmackenzie@southercommercialre.com

Gabriels and RealtyTrac Announce Partnership to Deliver Nationwide Foreclosure Listings Search


NEW YORK AND IRVINE, CA. – May 11, 2009 - Gabriels Technology Solutions, the leading private label e-commerce technology provider and RealtyTrac, the leading online marketplace for foreclosure properties, today announced the introduction of co-branded foreclosure search products for new media that provide a world class competitive advantage to Gabriels’ media clients for increased site activity, enhanced user experience and increased advertising revenue.

Gabriels’ technology allows for its media clients to present its users with the same foreclosure search experience whether they are searching for local real estate listings or foreclosure listings nationwide.

The more than 1.5 million RealtyTrac default, auction and bank-owned listings offered through the co-branded sites provide additional content, traffic, ad impressions, and revenue opportunities for Gabriels’ media clients.

It also extends the local reach of the media client to allow its users to search for foreclosure properties nationwide and conduct market research on foreclosure trends and sales trends.

Gabriels is the leader in providing vertical portals for over 300 media properties with such organizations as Scripps Networks, Network Communications Inc., The New York Times Company, Hearst Newspapers, Freedom Communications, Cox Newspapers, Scripps Newspapers and Lee Newspapers.

Tan Chan, (middle left photo) Chief Operating Officer of Gabriels Technology said that "the RealtyTrac co-branded site is an easy to implement revenue generating solution for real estate content that many people are extremely interested in.
" In today’s environment, foreclosures represent a significant portion of the activity in the real estate market. For Publishers, this opportunity provides multiple revenue streams without any out-of-pocket expenditure and reinforces the Publisher’s position as the real estate resource for the local market”.

“This exciting new partnership with Gabriels Technology Solutions will allow RealtyTrac to reach a wider audience of real estate buyers and investors who are searching for properties online at major media websites,” said Rick Sharga, (top right photo) senior vice president at RealtyTrac.
“This will further our mission of democratizing the foreclosure market, giving more people convenient access to view foreclosure bargains nationwide and also providing greater exposure for bank-owned properties that lenders typically want to dispose of quickly and efficiently.”
Contact: Tammy Chan Atomic PR, Direct: 212-699-3646, Mobile: 408-802-8682, tammy@atomicpr.com

IDI Closes 29,360-SF Lease with Chadwell Supply Inc. in Austell, GA

AUSTELL, GA, May 11, 2009 – IDI, a full-service industrial real estate company, has closed a five-year, 29,360-square-foot lease with Chadwell Supply Inc., a provider of maintenance services to the multi-family housing market.

Chadwell Supply will occupy Woodlands 200, a 127,680-square-foot warehouse/distribution facility located in Austell, Ga., west of downtown Atlanta. The Tampa, Fla.-based company will take occupancy later in May and use the space for the storage and distribution of maintenance equipment and products.

IDI and JPMorgan acquired Woodlands 200 in 2006. Located at 8110 Troon Circle in Austell, the building was completed in 2001 and features minimum clear heights of 24 feet. A total of 43,769 square feet remains available for lease in the facility.

Darren Ross and Nick Faber at Grubb & Ellis represented IDI in the deal.

Based in Tampa, Fla., Chadwell Supply is a family owned business that provides maintenance supplies to the multi-family housing market. The company also operates a flooring division offering next-day installation to the multi-family and commercial markets.

About IDIWith a single focus on industrial real estate, IDI (http://www.idi.com/) provides development, investment, property management and leasing services in markets across North America.

IDI’s state-of-the-art warehouse, distribution and light-manufacturing facilities enable clients to improve employee productivity, reduce operational costs and achieve global supply-chain efficiencies.

To date, Atlanta-based IDI has developed more than 125 million square feet of space valued at $5.6 billion across North America for a growing roster of international clients.


Contacts:
Kim Hardcastle, Jackson Spalding for IDI, 404-214-0693, khardcastle@jacksonspalding.com
Charlotte Marie, DuPreJackson Spalding for IDI, 404-214-0693, cdupre@jacksonspalding.com

Arbor Closes $11M Fannie Mae DUS® Loan for Artisan Ridge Apartments in Oklahoma City, OK

Uniondale, NY (May 11, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $11,000,000 loan under the Fannie Mae DUS® Loan product line to refinance the 312-unit complex known as Artisan Ridge Apartments in Oklahoma City, OK.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.73 percent.



The loan was originated by Jay Porterfield, (top right photo) Vice President, in Arbor’s full-service Plano, TX lending office.

“Arbor helped this borrower group refinance, allowing them to stabilize and improve the property,” said Porterfield. ”Arbor looks forward to growing our relationship with the borrower group.”

Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555
http://www.arbor.com/

Le Méridien Cambridge Completes $7M Renovation

Guest Rooms and Lobby Receive Full Makeover

CAMBRIDGE, MA, May 11, 2009—Le Méridien Cambridge hotel (top right photo) today announced the completion of a three-month, $7 million renovation of its guest rooms and public space to enhance Cambridge’s distinct and creative contemporary hotel.

The hotel is owned and operated by HEI Hotels & Resorts.

The renovation included a total make-over of the hotel, upgrading all 210 guestrooms and the lobby, and adding Le Méridien signature touches, such as the LM Bed and the Transitional Portal, featuring the artwork of LM100 artist Younes Rahmoun (bottom left photo)

The property is Boston’s only Le Meridien hotel.

“We are incredibly excited about the completion of this multi-million dollar renovation,” said Chris Lamb, director of sales. “Formerly the Hotel @ MIT, Le Meridien Cambridge combines technology and luxury in the center of one of the world’s most intellectually stimulating cities.”

Guests may dine at Sidney’s Grille, (middle left photo) an innovative contemporary American grill that focuses on fresh local ingredients with a Mediterranean flair.

The hotel’s former library, located off the lobby, has been converted into multi-function space.

All renovated guest rooms are decorated in the traditions of architectural detail from its European residential style origins combining elements of design with classic sensibility.

Each guest room will feature flat-panel televisions, personal safes, Wi-Fi Internet access and luxury bedding. Meeting space was outfitted in a modern, contemporary style. With 7,800 square feet of state-of-the-art meeting space, the hotel can serve groups of up to 250 people.

The hotel’s 8,000 square-foot Roof Top Garden offers stunning views of the city and adjacent MIT campus and is equally well suited for weddings, social events and business meetings.

More than 2,000 square feet of adaptable loft space was renovated to highlight Le Méridien’s curated Unlock Art program, which will allow guests complimentary access to the nearby MIT Museum.

Located in the heart of University Park at MIT, (bottom right photo) the premier, award-winning office, high-tech and biomedical complex, and a short walk from Harvard Square, the property features 210 rooms, including 14 suites, 7,700 square feet of state-of-the-art meeting space, a full-service restaurant, a terrace garden for outdoor functions and a fitness center.

The property is known for a distinctive guest experience, underscored by the attention to guest service and details.

About Le Méridien Hotel Brand

One of the latest additions to the Starwood family of brands, Le Méridien is a European-inspired brand comprised of luxury and upscale, full-service hotels, resorts and residences.

Each of its hotels, whether city, airport or resort, has a distinctive character driven by its individuality and the Le Méridien brand values.

With its underlying passion for food, art and style and its classic yet stylish design, Le Méridien offers a unique experience at some of the world’s top travel destinations.

For more information, visit www.lemeridien.com/cambridge.

About HEI Hotels & Resorts
HEI Hotels & Resorts, headquartered in Norwalk, Conn., is a leading hospitality investment firm that acquires, develops, owns and operates full-service, upper-upscale and luxury hotels and resorts throughout the United States under such well-known brand names as Marriott, Sheraton, Westin, Le Méridien, Embassy Suites, and Hilton.

For more information about HEI, please visit the company’s website, http://www.heihotels.com/.

Contacts:
Jess Petitt, HEI Hotels & Resorts, (203) 849 2228
Jerry Daly, Chris Daly, (Media, (703) 435-6293