Seven Shaner Hotels’ Properties Earn TripAdvisor’s Certificate of Excellence

  

 STATE COLLEGE, PA, June 28, 2011—Officials of Shaner Hotels, a developer/owner/operator that currently owns and manages more than 30 hotels, today announced that seven of the company’s hotels received the Certificate of Excellence from TripAdvisor. 

The awards follow shortly after eight Shaner-managed hotels received awards for operating excellence from Marriott International, Inc.

TripAdvisor’s Certificate of Excellence program, initiated in 2010, honors highly rated lodging businesses, based on travelers’ reviews.  Award criteria include a guest satisfaction score of 4.0 or more out of a possible 5.0; high frequency and quality of reviews; and successful communication from the hotel to travelers.  Award-winning hotels are indicated by a digital recognition badge displayed on their website.

The seven properties are:

·         Fairfield Inn & Suites Augusta

·         Durham Marriott City Center

·         Crowne Plaza Hotel Paramus

·         Courtyard Jacksonville Northeast/Kendall Town

·         Hampton Inn & Suites Miami–South/Homestead

·         Fairfield Inn & Suites St. Augustine I-95

·         Courtyard Jacksonville Beach Oceanfront

“Over the past 18 months, we have worked hard to raise our online profile, accessibility and effectiveness,” said Lance Shaner (top right photo), chairman and CEO of Shaner Hotels.

“TripAdvisor gets millions of visits every day, and the information posted there by travelers has become a vital part of the booking process. 

" These seven properties represent 22 percent of our portfolio, which is approximately double the average for competing management companies.  Receiving these awards speaks not only to our focus and attention given to the TripAdvisor site, but also to the quality of service provided by our teams on property.”

 For more information about the Shaner Group, please visit www.ShanerCorp.com

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Contact: Dave Kopac (Shaner Hotels, (814) 234-4460,  

dkopac@shanercorp.com

HFF arranges $80.5 million refinancing for Allegro Residences in Washington, D.C.

WASHINGTON, D.C. – HFF announced today that it has arranged an $80.5 million refinancing for Allegro Residences (top left photo), a 297-unit, Class A multi-housing community in Washington, D.C.

HFF worked exclusively on behalf of Federal Capital Partners to secure the five-year, floating-rate loan through Aareal Capital Corp.  Ownership used the loan proceeds to retire existing debt and make partnership distributions.

Allegro Residences is located at 3460 14th Street NW proximate to the Columbia Heights metro station in Washington, D.C.  Completed in 2009, the property is 94 percent leased. 

Community amenities include two interior courtyards, a lounge, athletic club and party room.  Allegro Residences was selected by Delta Associates as the Most Innovate Design in 2009 and the 2010 Best Lease-Up Pace for a Washington, D.C. Apartment Community, with a monthly lease-up rate of 17 units.

The HFF team representing Federal Capital Partners was led by managing director Mark Remington (lower right photo).

“This transaction was aggressively bid on by the lending community, confirming the high quality of both the asset and the sponsorship.  The result is a win-win situation…the lender generated an investment-grade earning asset on its books and Federal Capital Partners took advantage of the aggressive capital markets for multi-housing residential that exists today,” said Remington.

Federal Capital Partners (FCP) is a leading real estate private equity investment company based in Washington, D.C. Since its inception in 1999, FCP has invested more than $2 billion in residential and commercial assets.

Contacts:      

 Mark T. Remington, HFF Managing Director, (202) 533-2500                                           

mremington@hfflp.com

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

krmurphy@hfflp.com

                                                                                                                                                                         

HFF secures $220 million in financing on behalf of Olen Properties Corp.

IRVINE, CA – HFF announced today that it has secured $220 million in financing for eight multi-housing properties in Florida and Nevada on behalf of Olen Properties Corporation. 

HFF worked exclusively on behalf of the borrower to secure eight separate fixed-rate loans through M&T Realty Capital Corporation.  The loans were sold through M&T’s Fannie Mae Program.  The 10-year terms provided Olen with a reduced cost of capital and additional liquidity.

The properties total 2,468 units and have an average occupancy of in excess of 90%.  Individual property details are below:

Property                                                City, State                             # of Units             

Club Lake Pointe                                  Coral Springs, FL                   240 Units              

Sanctuary Cove                                    Palm Beach, FL                     420 Units              

Weston Place                                       Weston, FL                            372 Units              

Red Rock Villas                                     Summerlin, NV                      192 Units              

Durango North & South                      Las Vegas, NV                        544 Units              

Falling Water                                        Las Vegas, NV                        288 Units              

Hidden Cove                                         Las Vegas, NV                        212 Units              

Horizon Ridge                                       Henderson, NV                     200 Units              

The HFF team representing Olen Properties Corporation was led by senior managing director Don Curtis (top right photo).  Also involved was Elliott Throne (bottom left photo) from the Miami office of HFF, as well as Greg Brown and Brian Torp from the Orange County office.

 For over 30 plus years, Olen Properties Corporation has dedicated itself to creating distinctive commercial and residential communities from coast-to-coast.  Olen’s portfolio boasts more than five million square feet of premier office and industrial projects ideally located throughout Orange County, California.  Olen’s multifamily portfolio of more than 10,000 units in 36 plus residential communities are primarily located in the Las Vegas and South Florida area.

Contacts:      

Donald J. Curtis, HFF Senior Managing Director, (949) 253-8800,

dcurtis@hfflp.com

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

krmurphy@hfflp.com

                                                                                                                                                                         

Stirling Sotheby’s International Realty Named Exclusive Marketing Agents for $1.8 Million Lake Brantley Victorian Estate in Longwood, FL

ORLANDO, FL. --- Stirling Sotheby’s International Realty was recently named exclusive sales and marketing agents for a $1,799,900 Victorian lakefront estate home in Longwood in Seminole County.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said International Luxury Home Specialists Sally Andy and David Warren (top right photos) of the firm’s Heathrow Gallery are representing the 2004 custom-built home situated on an oversized cul-de-sac homesite on beautiful Lake Brantley.

The five-bedroom, five-and-a-half bath home offers 6,600 square feet of living space augmented with exquisite appointments – authentic antique stained glass, hand-crafted doors, hardwood floors and custom millwork throughout. 

 Other luxurious features include an old world library, bonus room, a separate guest apartment with full bath, a huge outdoor lanai, verdant gardens and spa, plus 110 feet of direct frontage on Lake Brantley.  Spacious two-story living and dining rooms feature panoramic views of the lake.

Photo Gallery: http://tours.tourfactory.com/tours/tour.asp?t=744925

For more information, contact

Sally Andy or David Warren, Stirling Sotheby’s International Realty 407-687-7295 or 407-928-3760; sally@sallyandy.com or david@sallyandy.com;

Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890; rsoderstrom@stirlingSIR.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142   Lvershelco@aol.com

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Faris Lee Investments Completes $7.1 Million Sale of a 24 Hour fitness Occupied Retail Property in Lee’s Summit, MO

  

IRVINE, CA,  June 27, 2011 – Faris Lee Investments, the nation’s largest retail investment  advisory firm, has completed the $7.1 million sale of a NNN leased, single-tenant, 35,600-square-foot property occupied by 24 Hour Fitness (top left photo) located at 900 NE Deerbrook St. in Lee’s Summit, MO. 

Built in 2007 and situated on 3.53 acres, the property is just off highway 291 and is within a busy retail area that includes Wal-Mart Supercenter, Office Max, Sears and many other national retailers and dining.

 Matthew Mousavi, director with Faris Lee Investments, represented the buyer, a private family trust, from Hawaii. Baum Realty out of Chicago represented the seller, CFM 291 Fitness, LLC from Omaha, NE. The transaction closed in just 30 days.

“We were able to secure a phenomenal deal for our client,” said Mousavi. “The closing cap rate was 9.45 percent and will be a 10.65 cap rate in 2013 with 12 percent increases every five years thereafter. Faris Lee was able structure a very clean, quick, and no hassle all-cash offer that was lower than asking price to maximize value for our client.”

The buyer is currently working with Faris Lee’s Capital Markets Group for a potential refinance of the property that will take advantage of historically low interest rates.

“These low rates coupled with the high cap rate will result in the buyer’s immediate cash on cash return to be well over 14 percent,” added Mousavi.

 For more information, please visit www.farislee.com

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Contact: Darcie Giacchetto, 949.278.6224, Spaulding Thompson & Associates            

For Faris Lee Investments

                               

Marcus & Millichap Sells 91-Unit Student Housing Community in Florida

GAINESVILLE, FL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of The Courtyards (top left photo), a 110,597-square foot, 375-bedroom student housing community in Gainesville.

Dorothy Jackman (middle right photo), a vice president investments and Travis Prince (lower left photo), a senior associate, both in the firm’s Tampa office, represented the seller, Trimark Properties. The buyer is an owner/developer operating in Florida.

“The Courtyards occupies irreplaceable real estate directly across the street from the University of Florida,” says Jackman. “The buyer will operate the property for a period of time but will ultimately redevelop the site into a mixed-use asset.”

The Courtyards is a dorm-style student housing community situated on a split site. The unit mix features one two-bedroom/1.5-bath flat, one two-bedroom/one-bath townhome, eight four-bedroom/1.5-bath flats, 66 four-bedroom/1.5-bath townhomes and 15 five-bedroom/1.5-bath flats.

The units are fully furnished with newly remodeled kitchens, oversized living rooms, balconies or patios a. All utilities, plus cable and Internet, are included in the monthly rent. Many of the apartments overlook a large center courtyard swimming pool.



Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

Marcus & Millichap Capital Corp. Names Jason Dean as an Associate in Indianapolis Office

INDIANAPOLIS, June 24, 2011 – Marcus & Millichap Capital Corporation (MMCC) has named Jason Dean (top right photo) as an associate in the firm’s Indianapolis office, according to William E. Hughes, senior vice president and managing director of MMCC.

“Jason has an impressive track record of arranging commercial real estate financing in the Midwest,” says Hughes. “He brings well-rounded experience in arranging debt and equity finance transactions for a variety of property types, including office, retail and multifamily to his new position.”

Prior to joining MMCC, Dean was a financial advisor at Morgan Stanley Smith Barney LLC. He is the founder and proprietor of Access Financial LLC and has held sales manager positions at Monon Mortgage Corp. LLC and Forbes Mortgage Corp.

Press Contact: Stacey Corso, Marcus & Millichap Capital Corporation,
(925) 953-1716
http://www.mmcapcorp.com/

MAA Announces Apartment Acquisition in Jacksonville, FL

MEMPHIS, TN, /PRNewswire/ -- MAA(NYSE: MAA) announced today that it has completed the acquisition of Tattersall at Tapestry Park (top left photo), a 279-unit upscale apartment community located in the highly desirable Southeast sub-market of Jacksonville, Florida.

The price was not disclosed.

The acquisition was funded by common stock issuances through MAA's at-the-market program and borrowings under our current credit facilities.

The community is located between the beaches and downtown Jacksonville and offers close proximity to a number of major employers in the area including the regional corporate headquarters of Fidelity National Financial and CSX. The area is also home to two of Jacksonville's top employers: Blue Cross & Blue Shield and Merrill Lynch.

Commenting on the announcement, Al Campbell, EVP and CFO said, "We are very pleased to expand our portfolio in the Jacksonville market to include Tattersall at Tapestry Park. Jacksonville is North Florida's employment hub and home to the largest deepwater port in the South. We believe Jacksonville will continue to offer strong leasing fundamentals for the foreseeable future."



Contact: : Investor Relations of MAA, +1-901-682-6600, investor.relations@maac.com


Web Site: http://www.maac.com/

Cloudy Commercial Real Estate Market Starting to Show Silver Lining

ST. PETERSBURG, FL. Commercial real estate — typically a lagging indicator of economic vitality — is starting to show signs of recovery, says one expert. ---

Rachel Elias Wein (middle right photo), AIA, founder and principal of WeinPlus Real Estate Advisory Services in St. Petersburg, recently returned from the International Council of Shopping Centers’ annual Re-Con Convention, which drew an estimated 30,000 real estate brokers, developers and retailers to Las Vegas.

Billed as the nation’s annual gathering of commercial real estate dealmakers, Re-Con was just that, Wein said.

“I’ve never seen so many principals and top executives looking for deals,” Wein said.

 “Development deals, anchor tenant deals, power broker deals, retailers shopping market demographics, and the bread and butter of retailers, it was very encouraging,” Wein said.

Wein said commercial real estate developers and retailers are showing signs of improved confidence that improved economic conditions are eminent.

“I think the industry is seeing pent up demand from all sides,” Wein said. “The convention was an energetic, exhausting and entirely optimistic experience,” she said.

For more information, contact

Rachel Elias Wein, AIA, Founder / Principal, WeinPlus, 727-386-9346, www.weinplusassociates.com;

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142, lvershelco@aol.com.



NAI Realvest Negotiates 4.65 Acre Land Sale for development of 60,000-SF headquarters building in Oviedo, FL

Orlando, FL -- NAI Realvest recently negotiated the sale of a 4.65 acre parcel of land on S. Econ Circle in Oviedo for $789,790.56 that will be home to a new headquarters building for Nutrex, Inc., a nutritional food and supplements maker.

 Paul P. Partyka (top right photo), managing partner at NAI Realvest, who represented the seller, M&O LP of Oviedo, said the property was purchased by TSO Enterprises LLC of Chuluota, Fla.   Nutrex will start construction of its new 60,000 square foot headquarters building on the site this summer. 

For more information, contact

Paul P. Partyka, Managing Partner, NAI Realvest, 407-875-9989 ppartyka@realvest.com;

 Patrick Mahoney, President, NAI Realvest, 407-875-9989 pmahoney@realvest.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

Cuhaci & Peterson Architects Starts Design Work for Remodeling of a Kangaroo Express in South Carolina

 ORLANDO, FL – Cuhaci & Peterson Architects, LLC based in Orlando’s Baldwin Park, recently completed design work for the remodeling of a Kangaroo Express convenience store located at 101 S. Main St. in Clover, S.C.

 Jed Downs (top right photo), president of Cuhaci & Peterson Architects, said the store has a floor area of approximately 2,300 square feet.  

 The Pantry awarded the design contract.

 For more information, contact:

Jed Downs, President Cuhaci & Peterson Architects, 407-661-9100

Lonnie Peterson, Chairman Cuhaci & Peterson Architects, 407-661-9100

Larry Vershel or Beth Payan, LV Communications, Inc. 407-644-4142

First Green Bank Chairman Honored by Lake County

EUSTIS, Fla.  – Kenneth E. LaRoe, chairman and chief executive officer of Lake County based First Green Bank, which has locations in Clermont and Eustis and plans to open a 12,000 square foot headquarters facility in Mount Dora in mid-summer, was recently honored by the Lake County Board of County Commissioners for his community service.

LaRoe, who has served on the Lake County Public Land Acquisition Advisory Council since 2006, was presented with the award in recognition of his “many dedicated hours of service volunteered to Lake County and its citizens.”

First Green Bank is one of the first banks of its kind to focus on positive environmental and social responsibility while operating as a traditional commercial bank.

The new First Green Bank facility on U.S. 441 was designed and built to achieve LEED platinum certification from the U.S. Green Building Council.

“I am very honored by the recognition from the Board of County Commissioners,” LaRoe said. “Part of our mission is to do the right thing for our community and to demonstrate the highest standards of corporate citizenship,” LaRoe said.

“That’s a positive value we encourage in every one of our colleagues, partners and co-workers at First Green Bank and it is carried through in our customer service, our wide range of personal and business banking services, and even our facilities.  Our mission also entails doing the right thing for the environment, our people, and our shareholders,” he said.

For more information about this press release, contact   

Kenneth E. LaRoe, Chairman and CEO, LEED® AP, First GREEN Bank, 352-483-9100, ken@firstgreenbank.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 or 407-461-3780, lvershelco@aol.com

  

Black Tie Real Estate & Investments adds Veteran Real Estate Specialist to its Growing Sales Staff

 

LADY LAKE, FL (June 24, 2011) – Black Tie Real Estate & Investments, a member of the University of Central Florida’s Business Incubation Program in Leesburg, recently hired Realtor Jane Paquin (top right photo) as a real estate consultant for The Villages.

 Paquin, who has lived in the tri-county area since 1967, has been involved in real estate for 30 years (+/-).  She has 18 years of experience with The Villages, 12 of which were working for the developer. 

 For the past six years, Paquin has been involved in general real estate, focusing on resales, according to Mark Dyer, president of Black Tie Real Estate.

 “With her years of experience and vast knowledge of the area, Jane is a welcomed asset to our staff,” he said.  

Paquin currently serves on the Committee for Education for the Tri-County Area Board of Realtors, and formerly served on the board’s Committee for Compliance/Complaints. 

 For more information about Black Tie Real Estate visit www.blacktierealestate.com   or call 352-751-7888

.For more information about  this release, please contact:

Mark Dyer, Broker/Owner Black Tie Real Estate & Investments, 352-751-7888 or mark.dyer@blacktie10.com

James Spencer, Site Manager, UCF Business Incubator-Leesburg, 352-315-1846, james.spencer@ucf.edu

Charlene Hager-Van Dyke, Larry Vershel Communications, 386-532-8862 or 407-644-4142; chagervandyke@yahoo.com

Stirling Sotheby’s International Realty Launches Global Marketing Effort for Two Luxury Homes at Solivita near Walt Disney World

ORLANDO, FL --- Stirling Sotheby’s International Realty launched a global marketing effort for two luxury residences at Solivita, the exclusive gated luxury community for active adults minutes from Walt Disney World in.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said both luxury homes are priced to sell.

Stirling Sotheby’s International Realty International Luxury Home Specialist Erin Wanner (top right photo) has listed a home — the Julliard model — at 123 Windsong St. in Solivita priced at $231,900. The three-bedroom, three-bath luxury home offers a new tile roof and an extended screened lanai.

Stirling Sotheby’s trusted real estate advisor Lynn Edwards (lower left photo) has listed a Tuscan-styled luxury home at 211 San Vincente Lane in Solivita, priced at $465,000.

For more information about the home on Windsong Street, visit http://www.stirlingsir.com/eflyers/agents/ewanner/ew2.html

For more information about the home on San Vincente Lane, visit

http://www.stirlingsir.com/eflyers/agents/ledwards/le.html

For more information, contact

Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890; rsoderstrom@stirlingSIR.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 Lvershelco@aol.com

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Colliers International Negotiates Sale of 38,014-SF Industrial Building in Camarillo, CA

CAMARILLO, CA, June 23, 2011 – Colliers International, the second largest global real estate services organization, recently directed the sale of a 38,014-square-foot industrial building located at 251 Camarillo Ranch Rd. (top left photo), Camarillo, Calif. to Zindagi Games, Inc. The sale was valued at approximately $3.8 million.

 Built in 2003, the unique facility boasts several state of the art features.  Originally built for and occupied by Pacific Sales Kitchen and Bath Center, the facility will now be used as office space for a sports video game developer.

The seller was represented by John DeGrinis (middle right photo), SIOR, senior executive vice president based in Colliers International’s Encino office, Patrick DuRoss (middle left photo), associate vice president, and Jeff Abraham (bottom right photo), senior associate, along with Clint McMorris, senior vice president based in Colliers International’s Torrance office.

  Roger Beck and Gelena Skya of Grubb and Ellis represented the buyer, Zindagi Games.

 “This building is very unique within the market,” DuRoss explained.  “It has industrial bones with excellent loading, a 24-foot minimum clear height and 1000 Amps of power. 

  

“But the extensive window line, dropped ceiling, air conditioning throughout and high parking ratio lent itself to office or retail uses as well.  We believed an office user, like Zindagi Games, would find value in the building given its adaptability to a variety of uses.”

 TEAM DeGRINIS is a specialized group within Colliers International that provides consulting on industrial and R&D real estate requirements in the Ventura County and San Fernando Valley.

With a combined 40 years of experience in the commercial real estate industry, TEAM DeGRINIS is a leader in sharing strategic local market insight and has completed more than $425 million in transactions over the past five years.

 For more information, visit www.colliers.com/markets/greater_los_angeles/degrinis

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Follow us at www.twitter.com/colliersgla

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Contact: Angela S. Hwang

Regional Marketing Coordinator | Greater Los Angeles

Dir +1 213 532 3258 | Mob +1 310 867 4105

Main +1 213 627 1214 | Fax +1 213 327 3258

angela.hwang@colliers.com

Colliers International

865 S Figueroa St., Suite 3500 | Los Angeles, CA 90017 | USA

www.colliers.com