HFF secures $13.43 million refinancing for Four Points by Sheraton hotel in Biloxi, MS

DALLAS, TX – HFF announced today that it has secured a $13.43 million refinancing for a 195-room, full-service Four Points by Sheraton hotel (top left photo) in Biloxi, Mississippi. 

Working exclusively on behalf of the borrower, Dawn Properties, Inc., HFF placed the three-year floating-rate loan with Bank of the Ozarks.  Loan proceeds are taking out an existing construction loan on the property.

Completed in 2009, the Four Points by Sheraton hotel features an outdoor pool with whirlpool and poolside bar, fitness facility, gift/sundry shop, business center with two meeting facilities and a restaurant/bar. 

The 10-story property is located at 940 Beach Boulevard adjacent to the Beau Rivage Casino, and the Hard Rock Café Biloxi close to Interstate 110 and Keesler Air Force Base in downtown Biloxi.

The HFF team representing Dawn Properties, Inc. was led by directors Travis Anderson and John Bourret  (middle right photo)  

Founded in 1986, Dawn Properties Inc. has bought and developed more than one billion dollars’ worth of property in over 40 different markets in 13 states.   From apartment construction and management to hotel and condominium development, Dawn Properties has a proven track record of success and the ambition to build to even greater heights.

Contacts: 

Travis Anderson, HFF Director, (214) 265-0880, tanderson@hfflp.com  

John Bourret, HFF Director, (214) 265-0880, jbourret@hfflp.com  

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

krmurphy@hfflp.com

               

Kennedy Wilson Enhances Communications Offerings for Tenants with Comcast Business Class

DENVER, CO, Oct. 17, 2011 /PRNewswire/ --Comcast Corporation (Nasdaq: CMCSA, CMCSK), one of the nation's leading providers of entertainment, information and communications products and services, today announced that international real estate firm Kennedy Wilson is providing high-speed Internet, voice and cable television from Comcast Business Class to support its tenants' advanced communications needs in the Denver area.

Kennedy Wilson now is offering Metro Ethernet Services from Comcast Business Class to tenants at the El Dorado Ridge office park (middle right  photo)in Broomfield, Colorado, which currently consists of three facilities totaling approximately 326,000 square feet. El Dorado Ridge II (top left photo) is the first building to receive Comcast Business Class services and plans are in place to expand to the other two buildings later in 2011.

 "I expect that the rollout of Comcast Business Class will give our building a competitive advantage over other multi-tenant office buildings in the greater Denver market," said Mike Pepper, managing director at Kennedy Wilson Group.

"A good portion of our tenants are technology-savvy, high-bandwidth users. After negotiating rental rates and terms with the landlord, their very next question is 'Tell us about telecom services,' so having Comcast high-speed communications in our building will give us an advantage and give tenants the flexibility to choose from multiple providers."

For further information on Kennedy Wilson, please visit http://www.kennedywilson.com/.

Contact: Cindy Parsons, (303) 603-2125

cindy_parsons@cable.comcast.com

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

Canyon-Johnson and Centurion Partners Team With Marriott on Hotel ICON Repositioning

 HOUSTON, TX, Oct. 17, 2011 /PRNewswire/ -- Since acquiring the Hotel ICON (top left photo) in downtown Houston earlier this year, joint venture partners Canyon-Johnson Urban Funds and Centurion Partners have implemented a comprehensive repositioning program that includes a $5 million renovation of the property, the selection of Marriott Autograph as a new flag, and the rebranding of the hotel's restaurant. 

The Marriott team is currently implementing the brand's proven reservation system, along with marketing and loyalty programs to help boost occupancy at the 12-story hotel. Earlier this year, Canyon and Centurion Partners selected Sage Hospitality to oversee day-to-day operations at the property.

Renovations have already begun at Hotel ICON, including upgrades to the property's 135 guest rooms, enhanced TV and technology systems, and other aesthetic improvements. 

The restaurant is also currently undergoing a transformation. Recently renamed "LINE & LARIAT," the dining room and bar now feature an innovative menu with modern Texas cuisine and cocktails. The restaurant will soon undergo a redesign as well.

"We are proud to be investing in Houston again, and to be working alongside Centurion Partners and an experienced operator like Sage Hospitality to maximize the potential of an extraordinarily unique hotel asset," said Bobby Turner (top right photo), Managing Partner of Canyon-Johnson Urban Funds. "Marriott is a powerful brand, and I am confident that the reflagging, coupled with our program of upgrades, will help take the hotel to new heights. This investment will help restore a treasured icon for generations to come." 

"We at CJUF are big believers in Houston, and we are excited to be bringing new life to such a beautiful hotel in the heart of Downtown," said Canyon-Johnson partner Earvin "Magic" Johnson (middle left photo). "Investing in Hotel ICON and its future supports not only the hard-working people who are employed at the hotel and restaurant, but the local economy as well."

Originally built as the Union National Bank building 100 years ago and converted to a hotel in January 2004, Hotel ICON is located at the corner of Main Street and Congress Street in downtown Houston, just steps away from top business and leisure attractions in the area, including the George R. Brown Convention Center (bottom right photo), Discovery Green, the Toyota Center and Market Square.

It is also the only downtown hotel with a stop on the 7.5-mile, state-of-the-art METRORail line, which services the Museum District, Rice University, Hermann Park, Texas Medical Center and the Reliant Center convention facility and sports complex.

Hotel ICON's 135 guestrooms include nine different custom-appointed suites with spacious tiled bathrooms, rain showers, Jacuzzis and antique claw-foot bathtubs.

Additional amenities include a state-of-the-art fitness facility and a three-level parking garage with 117 stalls operated as secure, covered valet parking for guests. Hotel ICON also features 7,750 square feet of unique event space, including a 2,263 square-foot ballroom and private wine cellar.

 For more information on all of the companies, please visit www.sagehospitality.com, www.cjuf.com, http://www.centurionpartnersllc.com/.

Contact: Steve Sugerman, +1-310-974-6680

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

Directors Group Honors CalPERS Leaders

 SACRAMENTO, CA – Anne Stausboll (top right photo) Chief Executive Officer of the California Public Employees’ Retirement System (CalPERS), and Anne Simpson (top left photo), CalPERS Senior Portfolio Manager, head of Corporate Governance, have been named to a list of the 100 most influential corporate governance professionals for 2011.

The NACD Directorship 100 Hall of Fame from the National Association of Corporate Directors honors board directors, corporate governance experts, journalists, regulators and academics working to uphold the highest standards in corporate governance. NACD is a national organization of directors and executives from public, private and non-profit companies that works to advance board leadership and enhance long-term shareowner value.

“I’m honored to be included on this list with my CalPERS colleague Anne Simpson,” Stausboll said. “Our entire staff’s hard work on corporate governance issues benefits all shareowners when well-run companies develop and execute business plans that create long-term, sustainable growth and value. This honor from NACD is testimony to the commitment of our investment professionals.”

Other NACD honorees this year include Warren Buffet (middle right photo), Chairman and CEO of Berkshire Hathaway; Mary Schapiro (lower  left photo), Chair of the U.S. Securities and Exchange Commission; Laurence Fink, Chairman and CEO of Blackrock; Jeffrey Immelt, Chairman and CEO of General Electric; Mindy Lubber, President of Ceres, a national coalition of investors, environmental organizations and other groups working with companies on sustainability challenges; and Ann Yerger, Executive Director of the Council of Institutional Investors, an association of institutional investors that advocates for good corporate governance and shareowner rights.

 Stausboll also was honored for her work with Ceres, where she co-chairs the Board of Directors.

CalPERS is the nation’s largest public pension fund with approximately $225 billion in market assets. It administers retirement benefits for 1.6 million active and retired State, public school, and local public agency employees and their families, and health benefits for more than 1.3 million members. The average CalPERS pension is $2,220 per month. For more information on CalPERS, visit www.calpers.ca.gov.

Contact:

External Affairs Branch

(916) 795-3991

Robert Udall Glazier, Deputy Executive Officer

Brad Pacheco, Chief, Office of Public Affairs

Contact: Wayne Davis, Information Officer

pressroom@calpers.ca.gov

Arbor Gives Real Estate Investors the Keys to Financing in Today’s Environment

VP John Kelly Provides Lending Market Insight at Bisnow Washington, DC, Summit

 WASHINGTON, DC — Commercial real estate investors looking for answers and market insight found them in abundance recently at the Bisnow Washington, DC, Investment Summit, where Arbor Commercial Mortgage Vice President John Kelly (top right photo) appeared as a featured speaker.

Offering his expertise during the session on the “Return of Debt & CMBS 2.0,” Kelly explained to event attendees that the best way for investors to work through their debt problems today is to keep debt payments current, a strategy that is met with equal cooperation on the behalf of lenders and servicers.

 Contact:  Christopher Ostrowski, costrowski@arbor.com

Bainbridge River Oaks Apartments Break Ground in Woodbridge, VA

 Bethesda, MD/Woodbridge, VA (Oct. 17, 2011) – Bainbridge River Oaks Apartments (top left rendering), a ‪294-unit luxury apartment community, is now under construction in Woodbridge, Virginia near the thriving Ft. Belvoir military base.

The development is a joint venture between Starwood Capital Group Global, a privately-held global real estate investment firm, and The Bainbridge Companies, a fully-integrated group of multifamily real estate companies.

 “Bainbridge River Oaks will be right in between rapidly-growing Fort Belvoir, which will have a larger workforce than the Pentagon, and Quantico Marine base, ” said Bainbridge Mid-Atlantic Regional Development Manager Neil Goradia (middle right photo). “It will provide much-needed high-quality housing in an extremely tight market. Research shows that the area is projected to grow more than 12% over a 15-year period,” Goradia added.

The 2005 Base Realignment and Closure Commission (BRAC) called for a $4 billion expansion of Ft. Belvoir, which was already one of the largest employers in Fairfax County. The expansion adds more than 19,000 more workers to the base.

 The new community is designed to have ‪spectacular amenities  including a swimming pool and sun deck as well as a clubhouse with a state-of-the-art fitness club, cyber café, billiards area and fully-equipped business lounge. Elevators will be available in some buildings.

Cline Design of Raleigh, North Carolina designed the ‪Craftsman Style buildings, which feature exterior stone detailing. ‪Kitchens in the one- and two-bedroom apartments will have stainless Energy Star appliances and granite-style countertops. Energy-efficient fixtures and lighting are planned as well, to keep utility costs low.

‪The first apartments are expected to be completed in the summer of 2012, with full completion planned for early 2013.

Earlier this year Starwood and Bainbridge embarked on another significant joint venture – the acquisition of 1,626 apartment units in Virginia and Maryland. Bainbridge also started construction this year on Bainbridge Bethesda, a new high-rise community in Bethesda, Maryland; and Campus Circle Tallahassee, a new luxury student housing community in Tallahassee, Florida.

 Additional information about Starwood Capital can be found at http://www.starwoodcapital.com/.

 Contact: Terri Thornton,  404-932-4347 (Cell), 

http://www.territhornton.com/

Lane Management Portfolio Grows

  

Atlanta, GA (Oct.  17, 2011) – Lane Management, LLC reports that the portfolio of multifamily properties it manages has grown substantially this year, returning to pre-recession levels.

 Since the beginning of the year, Lane Company’s property management arm has begun managing an additional 7,886 rental units in Atlanta, Alabama, Louisiana, South Carolina and Texas.

The firm has inked new agreements with nationally-known real estate clients including Wood Partners, Lubert Adler, Provident Realty, National Equity Fund Inc., the Houston Housing Authority and others.

“We pride ourselves on offering excellent personalized property management and asset management services,” said Lane Management President Rob Couch (top right photo). “Large multifamily owners and investors appreciate that we are results-driven and extremely effective.”

 “People are looking at costs now more than ever,” added Brian Willey, Director of Business Development. “We have proven our value to clients by reducing controllable operating expenses and improving collections across the portfolio, resulting in material increases to net operating income.

Contact: Terri Thornton,  404-932-4347 (Cell),  

http://www.territhornton.com/

Davidson Hotels & Resorts to Open New Headquarter Office in Atlanta

 MEMPHIS, TN, Oct. 17, 2011—Officials of Davidson Hotels & Resorts, one of the nation’s largest independent hotel management companies, today announced the company will open a new headquarter office in Atlanta, Ga. 

Certain functions, primarily accounting, risk management, payroll and portions of IT will remain in Memphis.  The relocation is expected to take place in summer 2012.

“We have expanded our portfolio of properties significantly over the past five years, and we believe we are poised for continued growth throughout the coming years,” said John Belden (top right photo), president and CEO of Davidson. 

“By relocating to a gateway city, we provide greater travel options for our associates, and optimize our visibility and accessibility with investors and property owners.  This will also allow us to aggregate more operational and development resources under one roof, as well as materially enhance our ability to attract the best possible talent in the future. 

“We initially looked at five major markets on the East Coast, but Atlanta was chosen because it is rated as one of the nation’s Top 10 most attractive cities for corporate relocation and currently is the 4th largest hotel/hospitality market in the country, providing a deep pool of prospective industry talent,” Belden added. 

“Hartsfield-Jackson International Airport (middle left photo) will provide us with the most comprehensive and efficient access to our portfolio, our clients, our brand partners and our investors.  We intend to locate in the Perimeter area of Atlanta, due to its central and strategic location.”

Corporate functions relocating to Atlanta include:  operations, sales/revenue management, food and beverage, design and construction, legal, human resources and business development.  The Memphis office will continue to house accounting, payroll, risk management and components of the IT departments. 

“This dual-office configuration will provide us with an even stronger platform for growth and portfolio support, and we expect to add personnel in both locations as we expand our business,” Belden said.   

 Additional information on Davidson may be found at www.davidsonhotels.com.

Contacts:

Cyndi Norwood, Davidson Hotels & Resorts, (901) 821-4155, cnorwood@davidsonhotels.com                                                                                                                                                                                                                                                                            Jerry Daly, Chris Daly (media), Daly Gray Public Relations, (703) 435-6293

jerry@dalygray.com or chris@dalygray.com                   

"Brand" Opening at Westchester's Ridge Hill Nears: Eighty-One-Acre Shopping Complex in Yonkers, N.Y. to Celebrate Debut Of Highly Anticipated Stores and Restaurants

YONKERS, NY  /PRNewswire/ -- Westchester's Ridge Hill (top left rendering), the New York metropolitan area's largest mixed-use outdoor shopping center, will celebrate the first in a series of "brand" openings next week, unveiling brands never before seen in the area, coupled with an unrivaled shopping experience.

Located in Yonkers, N.Y., Westchester's Ridge Hill, which spans more than 81.4 acres and will include 1.3 million square feet at full build-out, will change the shopping habits of tens of thousands of New Yorkers.

 Best of all, this exceptional destination is conveniently situated just off the New York State Thruway I-87 at Exit 6A, and the Sprain Brook Parkway Tuckahoe Road West Exit, making it easily accessible to New Yorkers and tourists alike. 

To commemorate the opening of many exciting restaurants and retailers, Ridge Hill will host a four-day celebration, complete with live music, street performances and interactive characters. The festivities are scheduled for Thursday, Oct. 20 through Sunday, Oct. 23.

Ridge Hill will soon boast delectable food options such as a 50,000-square-foot Whole Foods Market; New York State's first Yard House, with its award winning selection of over 150 beers on tap and American cuisine; and The Cheesecake Factory, with seating for 295 guests.

The complex will also welcome popular national retailers L.L.Bean, H&M, Old Navy, Sephora, Orvis, Gap and Desigual -- all slated to open their doors this month, with more new store openings to follow in November and December.

 At dusk on Thursday, Oct. 20, Yonkers' Mayor Philip A. Amicone (middle right photo) will greet the crowd alongside Forest City Ratner Companies'(FCRC) chairman and chief executive officer Bruce C. Ratner, James A. Ratner, chairman and chief executive officer of Forest City Commercial Group and Andy Silberfein, executive vice president and director of retail and finance for FCRC.

Contact:

Hundred Stories PR, Public Relations, +1-212-570-2700, Robin Dolch; Robin@hundredstoriespr.com, or Cassandra Carpio; Cassandra@hundredstoriespr.com

Web Site: http://www.forestcity.net

NAI Realvest negotiates sale of industrial/flex condominium for $300,200 at South Park Business Center in Orlando, FL

ORLANDO, FL — NAI Realvest recently negotiated the sale of a 2,143 square foot industrial/flex condo at South Park Business Center (top left photo), 8600 Commodity Circle in Orlando.

 Tom R. Kelley, II, (middle right photo) CCIM, principal at NAI Realvest and managing partner/principal, Paul P. Partyka negotiated the transaction on behalf of the landlord, Miami-based South Park, LLC.

 HNN Investments, LLC a local privately held investment management firm purchased the property.     Angela Chapman of Century 21 Capital Realty Group represented the buyer in the transaction.

For more information, contact

Tom R. Kelley, II, CCIM, Principal, NAI Realvest, 407-875-9989 tkelley@realvest.com 

Paul P. Partyka, Principal/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.

  

NAI Realvest Negotiates Two Lease Agreements totaling 7,000 SF at Monroe CommerCenter South in Sanford, FL

MAITLAND, FL --- NAI Realvest recently negotiated a renewal lease and a new lease totaling 7,000 square feet of industrial space at Monroe CommerCenter South (middle left photo) in Sanford.  

 Michael Heidrich, a principal in the firm, brokered the transactions on behalf of the landlord, COP-Monroe, LLC of Maitland. 

 Truck and auto parts and equipment supplier Advanced Van & Truck Equipment, Inc. renewed its lease of 5,000 square feet at 4154 Incubator Court. 

 The new tenant, Transit Designs, LLC, a screen printing company and design studio, leased 2,000 square feet at 711 Progress Way in Monroe CommerCenter South.

For more information,  contact

Michael Heidrich, Principal, NAI Realvest,  407-875-9989,  mheidrich@realvest.com;

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

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

Rachel Wein of WeinPlus: In Slow Growth Market, Specialization sets companies apart from the competition

  

ST. PETERSBURG, FL. --- Look for real estate owners and developers to specialize more and emphasize their strongest talents as the economy continues to grow slowly, says one top Florida management consultant.

Rachel Elias Wein (top right photo), AIA, founder and principal of WeinPlus Real Estate Advisory Services in St. Petersburg, said that’s the most logical solution for developers in a slow-growth economy.

“The universe of real estate development projects is not increasing,” Wein said. “Real estate companies who want to maintain market share are going to have to focus on what they do best — what distinguishes them from the competition.”

Wein said one of her clients has focused efforts on specializing in sensitive projects likely to engender political controversy.

“They have a track record of developing solutions that address the needs of the local community and neighbors while maintaining focus on tenants and the bottom line,” Wein said.

“Another client specializes in redevelopment of older retail centers, making improvements, re-tenanting and making older centers shine like new,” she said.

“If you’re dealing in a commodity business, find a way to make your service unique to differentiate yourself and your company from the competition,” Wein said.

For more information, contact

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

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

Grubb & Ellis Represents DCG Fulfillment in Lease of Nearly 190,000 SF in Eastvale, CA

  

 ONTARIO, Calif. (Oct. 12, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it represented DCG Fulfillment, a third-party logistics company, in its lease of 190,000 square feet of warehouse/distribution space located at 12430 Riverside Drive in Eastvale.    

 Mark Kegans (middle right photo), SIOR, and Ron Washle, SIOR, both senior vice presidents, Industrial Group, and members of the company’s Global Logistics practice group, represented DCG Fulfillment in the transaction. 

DCG Fulfillment took occupancy of the building immediately following the lease transaction.  The company now occupies approximately 700,000 square feet of space split between three buildings in the Inland Empire and expanded its operations with this new location, which it primarily uses for consumer-related products. 

 According to Kegans, the property was a good fit due to its Class A building features and proximity to the company’s existing locations. 

David Consani and Joey Sugar of CB Richard Ellis represented the owner of the property, Alere Property Group LLC, a Newport Beach-based investor and developer that has developed and acquired more than $950 million in assets since 2003, in the transaction.

Contact: Julia McCartney, Phone: 714.975.2230                                     

Email:  julia.mccartney@grubb-ellis.com                                                                                                               

Downtown Glendale, CA Development Site Listed by IPA

 GLENDALE, CA – Institutional Property Advisors (IPA), a recently formed multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has retained the exclusive listing for City Center II, (top left rendering)  a 1.38-acre development site located at the corner of Wilson Avenue and Brand Boulevard in downtown Glendale. The property is being offered as an open bid.

Ron Harris, an executive vice president investments, and associate directors Paul Darrow and Joseph Smolen are representing the seller.

“City Center II is located in a true infill location two blocks from the The Americana at Brand (lower left photo) lifestyle center, the Glendale Galleria (middle right photo) and dozens of local stores and restaurants along Brand Boulevard,” says Darrow. “The site is currently entitled for the construction an 18-story tower and a 20-story tower that combine for a total of 184 condominium units and 172 hotel rooms.” 

Although the current entitlements are being evaluated by a number of developers, many prospective buyers are considering re-entitling the site for a lower density mid-rise concept consisting of apartments over retail.

“The multifamily rental market has gained significant momentum, both in operations and values,” adds Harris. “Many developers are indicating that they find a mid-rise concept to be a more cost-efficient approach that will be better suited to current market conditions.”

Located at 111 N. Brand Blvd. in Glendale, the site will provide future residents and guests with easy walks to a wide variety of shopping and dining options, farmer’s markets, theatrical productions and dance shows.

Glendale offers a myriad of public and private transportation options for residents seeking to visit adjacent employment hubs, including downtown Los Angeles, Burbank and Century City.  

Glendale is the third-largest city in Los Angeles County with a population close to 200,000 and more than 1.4 million people within a seven-mile radius.

IPA is a division of Marcus & Millichap Real Estate Investment Services.

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

           

http://www.institutionalpropertyadvisors.com/

Marcus & Millichap Promotes Jason S. Ladner to Vice President Investments in Milwaukee Office

 MILWAUKEE, WI – The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Jason S. Ladner (top right photo) to the position of vice president investments.

This designation exemplifies superior performance in the accomplishments an agent has achieved in his or her sales career at Marcus & Millichap and in the investment real estate brokerage profession, according to Matthew M. Fitzgerald (lower left photo), vice president and regional manager of the firm’s Milwaukee office.

 “Jason has earned a reputation as one of the most knowledgeable investment specialists in the nation,” says Fitzgerald. “He is a consummate professional, continually striving to expand his knowledge and expertise. His focus on providing superior client services has earned him a high degree of loyalty and respect from investors as well as from his peers.”

Ladner began his career with Marcus & Millichap in July 2005, specializing in the sale of retail properties.

Most recently, Ladner held the position of associate vice president investments.

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

           

$30.43 Million Apartment Portfolio Hits the Market in Cleveland, OH

CLEVELAND, Oct. 14, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listings for four multifamily properties in Ohio. They are:

De Ville Apartments (top left photo), Beachwood, 190 units, 259,077 square feet, $15,100,000

Arbor Court (middle right photo), Mayfield Heights, 300 units, 265,750 square feet, $11,500,000

Beachwood Villa North (middle left photo), Beachwood, 28 units, 30,402 square feet, $1,915,000

Beachwood Villa South (lower right map), Beachwood, 28 units, 30,200 square feet, $1,915,000

The properties may be purchased together or separately.

 Michael Barron and Daniel Burkons, both vice presidents investments in Marcus & Millichap’s Cleveland office, are representing the seller, Wolf Real Estate Management LLC and The Goldberg Cos. Inc.

“The properties are all being offered by the original developer,” says Burkons. “They are located in two of Ohio’s most sought-after submarkets and are between 93- and 98-percent occupied.”

 De Ville Apartments, located at 23305 Chagrin Blvd. in Beachwood, is a three mid-rise-building apartment complex situated on 9.8 acres. Constructed in the 1960s, the buildings are nestled between trees above two large underground parking garages. The unit mix is 44 one-bedroom units, 114 two-bedroom apartments, 30 three-bedroom units and two five-bedroom apartments.

 Beachwood Villa North and Beachwood Villa South, located at the corner of Chagrin Boulevard and South Green Road at 3443 South Green Road and 3465 South Green Road, respectively, are both 28-unit apartment communities, offering residents easy access to the east side of Cleveland’s robust employment centers, shopping and fine dining.

Arbor Court Apartments consists of 34 buildings on 12.6 landscaped acres at 6484-6643 Maplewood Drive, adjacent to Mayfield Road and Route 271 in Mayfield Heights. The apartments are 93-percent occupied and have maintained high historical occupancy rates in Mayfield Heights’ strong rental market.

The property provides residents with easy access to city amenities such as the shopping and dining along Som Center Road and Mayfield Road. The Cleveland Clinic’s newly expanded Hillcrest Hospital and the world headquarters of Progressive Insurance are located within one mile of the property.

Beachwood, Ohio, is an affluent suburb of Cleveland with a highly rated school district.

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