CampusMBA Extends Partnership with Insurance Advisors to Offer New Live Online Workshops for Commercial/Multifamily Professionals

WASHINGTON, DC - CampusMBA, the award-winning education division of the Mortgage Bankers Association (MBA), today announced it has extended its partnership with Stamford, Connecticut-based Insurance Advisors LLC.

Under the agreement CampusMBA, in conjunction with Insurance Advisors, will continue to offer live online workshops addressing a variety of insurance issues for commercial/multifamily real estate loans.

 "We are proud to continue to join Insurance Advisors to offer valuable industry education, especially in this challenging economic environment," said David H. Stevens (top right photo), MBA's President and CEO. "Commercial insurance issues continue to be vital for our commercial and multifamily members, and we look forward to continuing to offer relevant courses to educate industry professionals on important and timely insurance related issues."

 Each workshop will cover both broad issues as well a specific topics that industry professionals address on a daily basis. The workshops are designed to provide practical information that is useful to commercial loan originators and underwriters, loan closers, drafting attorneys and loan servicers.

Course topics will include: self insurance, captives and fronting arrangement. The workshops will also cover terrorism insurance, flood insurance and the principles of property insurance. 

 "We are very excited to continue our work with MBA and its members on such relevant issues facing the industry," said Bernie Brown (middle left photo), President of Insurance Advisors LLC. "By working with MBA and its education division, CampusMBA, Insurance Advisors is able to educate industry professionals on vital and timely insurance related issues. We are committed to providing superior educational assistance to MBA members and we are proud the MBA has chosen to continue our partnership with them."

 To learn more about the Commercial Insurance LIVE Online Workshops offered by CampusMBA and Insurance Advisors click here or call (800) 348-8653. If you are a member of the media, please contact Melissa Key at (202) 557-2799.

Contact:: Melissa Key, (202) 557-2799, mkey@mortgagebankers.org

McCarthy Completes Construction of New Classroom Complex at Carlsbad High School in San Diego, CA

  

 SAN DIEGO, CA – Carlsbad High School students returned from their holiday break last week to find 11 brand new education buildings and a central plaza awaiting them.

 Located at 3557 Lancer Way in Carlsbad, Calif., the $47 million classroom complex was constructed by McCarthy Building Companies, Inc., one of the nation’s leading education facility builders, on behalf of the Carlsbad Unified School District.

 The education-building complex represents the third phase of an overall $87 million renovation and modernization of Carlsbad High School, home of the Lancers, that McCarthy began in June 2008.

The project is being funded by Proposition P, a $198 million bond measure passed by voters in 2006. Carlsbad High School, which was originally built in 1957 and now boasts an enrollment of 3,000 students, is one of eight schools within the Carlsbad Unified School District being constructed or modernized with funding from Prop P.

 The one- and two-story education facilities comprise a total of 99,000 square feet of space and provide new classroom, performing arts, vocational education lab and food service space. The buildings surround the newly created Lancer Plaza, which resembles a college campus quad and serves as a central gathering and event area for students.

 A grand opening celebration and official ribbon-cutting ceremony was held last week to commemorate the completion of the education-building phase. More than 200 government officials, school district dignitaries, and other stakeholders attended the event and expressed praise for those involved in the planning, construction and oversight.

“There are so many individuals who have helped guide this project on the right path, and helped realize our dream of being one of the most modern and desirable school campuses in the country,” said Maggie Stanchi, (lower right photo)director of instruction for the Carlsbad Unified School District and former principal of Carlsbad High School. 

“We’re especially grateful to the members of McCarthy’s project team for their diligence and high degree of professionalism throughout the course of this project.”

 Built on the site of the school's former parking lot on the east side of Carlsbad High School, the 11 new steel-framed stucco buildings were designed to harmonize with the surrounding structures, while giving the campus a more contemporary appeal.

The buildings feature curtain walls on one side, and cantilevered walls with metal sunscreens on the opposite sides to help reduce energy use. Masonry was incorporated in some areas, including the plaza ticket booth.

"We were in close communication with the District the entire duration in an effort to reduce potential traffic flow issues and minimize disruptions to campus operations while school was in session," said McCarthy Project Director Craig Swenson.

 “At many points, it required our having to reassess the schedule, then rearrange subcontractor schedules to accommodate activity on and around the campus.”

Design consultants involved in the Carlsbad High School renovation project include Perkins+Will, architect; John A. Martin & Associates, structural engineer; Leighton Engineering, geotechnical engineer; Cornerstone Engineering, Inc., civil engineer; Johnson Consulting Engineers, Inc., electrical engineer; Donn C. Gilmore & Associates, mechanical engineer; and Lightfoot Planning Group as the landscape architect. The Planning Center provided the Environmental Impact Report.

 Gafcon is the program manager. Erik Reuter has been serving as director of school construction on behalf of the CUSD.

 More information about the company is available online at http://www.mccarthy.com/.

Contact:

Bonnie Kutch

Director

619-299-1010

Kutch & Company

3904 Groton Street | Suite 203 |

San Diego, California 92110

 www.kutchco.com

Post Properties Announces Refinancing of $330 Million Unsecured Revolving Lines of Credit and New $300 Million Unsecured Bank Term Loan Facility

ATLANTA, GA (BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate investment trust (the “Company”), today announced that its operating partnership, Post Apartment Homes, L.P. (the “Operating Partnership”), amended its $300 million unsecured syndicated revolving line of credit facility and its $30 million unsecured cash management line of credit facility.

The Operating Partnership also entered into a new $300 million unsecured bank term loan facility, under which it currently has $100 million of outstanding borrowings, with $200 million of additional borrowing availability through July 17, 2012.

The amended credit facility, provided by a syndicate of eleven financial institutions and arranged by Wells Fargo Securities, LLC and J.P. Morgan Securities LLC, provides for a $300 million unsecured revolving line of credit which has an initial four-year term maturing in January 2016, with a one-year extension option.

The new credit facility amends the Operating Partnership’s existing $300 million unsecured revolving credit facility.

For a complete copy of the company’s news release, please contact Chris Papa (top right photo) , Executive Vice President and Chief Financial Officer of the Company at

 404-846-5000

Regency Centers Announces Tax Information for 2011 Distributions

Jacksonville, Fla. (Jan. 20, 2012)— Regency Centers Corporation (NYSE:REG) today announced the Federal income tax treatment of its 2011 distributions to holders of its common shares and Series 3, 4 and 5 Preferred shares.

For a complete list of the tables, please contact Patrick Johnson, (904) 598-7422

http://www.regencycenters.com/

Industry veteran Lee Jeane joins Avison Young in Houston

HOUSTON, TX, Jan. 20, 2012 /PRNewswire/ - Rand Stephens, Avison Young Principal and Managing Director of the company's Houston office, announced today that commercial real estate broker Lee Jeane (top right photo) has joined Avison Young'sbrokerage operations in Houston.

Effective immediately, Jeane joins Avison Young as a Principal and will lead Avison Young's entry into the agency leasing and management business in Houston and throughout Texas.

"We are very excited to have someone of Lee's caliber join us to launch Avison Young's agency leasing and management platform in Houston," comments Stephens.

"Lee will work closely with Darrell Betts (lower right photo), who runs our investment sales business, to provide a high level of service for investors looking to acquire and operate office buildings in Houston and throughout Texas.

“Lee has a great track record and tremendous experience, and his background and professionalism will blend perfectly with our company's culture."

Jeane, a 28-year veteran of the Houston real estate industry, comes to Avison Young after three years with Moody Rambin Interests, where he was a Vice-President in the firm's office services division.

 Prior to joining Moody Rambin Interests, Jeane served 16 years with Trammell Crow Company/CBRE.

Contact:  For further information/comment/photos: Sherry Quan, National Director of Communications & Media Relations, Avison Young: (604) 647-5098; cell: (604) 726-0959

Charles Dunn Co. Completes $2.37 Million Sale of Nine-Unit Multifamily Property in Westwood Submarket of Los Angeles

LOS ANGELES, CA. Jan. 20, 2012 – Charles Dunn Company, one of the largest full-service regional real estate firms in the Western United States, has completed the $2,375,000 sale of a fully occupied nine-unit multifamily property in the Westwood submarket of Los Angeles.

The property is located at 1931 Overland Ave. near Santa Monica Blvd.

The property was listed and sold by The Soroudi Group at Charles Dunn Company. The Soroudi Group specializes in selling and exchanging prime Westside properties.

Hamid Soroudi  (top left photo) of Charles Dunn Company represented the seller, Los Angeles-based GSR Apartments, LLC. Kimberly Roberts Stepp (top right photo) with Charles Dunn Company represented the buyer, Los Angeles-based TSI Property Management, LLC. The closing cap rate was 5.1 percent. 

Built in 1991, the property is non-rent controlled and includes three one-bedroom/one-bathroom units and six two-bedroom/two-bathroom units.

“This property is situated in a prime Westside location,” said Soroudi. “Multifamily properties throughout the Westside market continue to be highly sought after by investors. Vacancy rates are hovering at around three percent and cap rates are low, reflecting the strong market fundamentals.” 

Contact: Darcie at darcie@dagicomm.com

Lake Harris Estate in Lake County, FL offered at Fraction of Original Cost

 

 ORLANDO, FL--- Stirling Sotheby’s International Realty recently announced that one of its most prestigious listings on Lake Harris – one of a nine-lake chain of lakes in Lake County – has been dramatically reduced to $1,195,000 for immediate sale.  

 Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said the lake front estate with its master crafted 6,226 square foot, four bedroom luxury home was originally built at a cost of well over $2,000,000.

“The national recession and the housing slowdown have generated hundreds of spectacular buys, but this one is one of the most attractive in the whole region,” Soderstrom said.

“The western exposure in the rear of the home affords spectacular sunsets and panoramic views from almost every room,” Soderstrom added.

“The lanai extends the entire length of the home, adding outdoor living space, a summer kitchen, large heated pool and spa with unobstructed views of the lake, and an enticing walkway to the private boathouse complete with two boat lifts and picnic areas,” he said.

The home features his and her studies, butler’s pantry with commercial icemaker and wine refrigerator, and a huge gourmet kitchen featuring Dacor appliances, built-in cooling drawers and a Subzero refrigerator.

The Lake Harris estate is listed by Stirling Sotheby’s International Luxury Home Specialists Deborah Breaux (top right photo) and Diana Smith (middle left photo) with the firm’s Heathrow Sales Center 407-333-1900.  

To view a brochure on the property, visit http://dianasmith.stirlingsir.com/eng/sales/detail/278-l-717-4323865/tavares-florida-tavares-fl-32778 or, go to http://tours.tourfactory.com/tours/tour.asp?t=760858&r=www.sothebysrealty.com for a video tour.

 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.  

Marquis Residences, Downtown Miami’s Epitome of Glamorous Living

From left: Representative, Ruthy Leviev, Tamir Kazaz, CEO of Africa-Israel USA (AFI USA) , IPA Representative.

Miami, FL  –– Marquis Residences (lower left photo), a luxury residential condominium towering 67 stories above Biscayne Bay, is the crown jewel of real estate in downtown Miami.

 Fittingly, the property’s developer, Africa-Israel USA (AFI USA), recently received the ‘Highly Commended Award’ in the International Property Awards’ High-Rise Residential category.

AFI USA was among leading developers from across the Americas who gathered at The Savoy Hotel in London for the Americas Property Awards presentation on Dec. 12, co-organized by Bloomberg Television and Google.

“It is a true honor for Marquis Residences to be recognized as one of the nation’s foremost residential high-rise developments,” said Tamir Kazaz (top right photo), CEO of AFI USA. “Interacting with renowned international developers at The Savoy Hotel brought the entire experience to life – what a memorable occasion!”

Located at 1100 Biscayne Boulevard, Marquis Residences – Downtown Miami’s tallest residential building – boasts an 8,000-square-foot spa and fitness center overlooking the Atlantic Ocean, a sky pool on the 14th floor with Asian–inspired water gardens, and the Biscayne Beacon, a 16-story lighting fixture illuminating the Miami Skyline.

Homes start at $590,000 for a 1,477-square-foot two-bedroom, two-and-a-half bath residence and range up to $2.2 million for a 3,017-square-foot, two-and-a-half bedroom, two-and-a-half bath duplex penthouse.

For more information, contact the sales office at 305-571-4000, visit www.Marquis-Miami.com or stop by the sales office at 1100 Biscayne Boulevard.

For more information, please visit: www.cervera.com and www.marquis-miami.com

Contact:

Hundred Stories PR

Public Relations

212-570-2700

Robin Dolch; Robin@hundredstoriespr.com

Cassandra Carpio; Cassandra@hundredstoriespr.com

Interstate Hotels & Resorts Forms Joint Venture; Acquires Crowne Plaza Columbus North Hotel in Ohio

 ARLINGTON, VA and COLUMBUS, OH, January 20, 2012—Interstate Hotels & Resorts, the largest U.S.-based global hotel management company, today announced that it has acquired the 300-room Crowne Plaza Columbus North (top left photo) hotel through a joint venture with Waramaug Hospitality, LLC and a private investment group. 

The hotel will remain as a Crowne Plaza and immediately undergo a $5.25 million renovation.

“This is the company’s third acquisition transaction with Waramaug since last year,” said Jim Abrahamson (middle right photo), Interstate’s chief executive officer.  “We look forward to continuing our partnership with a leader in the real estate investment industry and to future opportunities together.”

“This hotel has strong investment potential, especially considering the improving fundamentals of the Columbus market and the hotel’s competitive positioning,” said Leslie Ng (middle left photo), Interstate’s chief investment officer.

 “With the planned comprehensive renovation, including a complete upgrade to the nearly 20,000-square-feet of meeting space, we expect this upscale hotel to reach its full potential and assume a larger leadership role in this market.”

Located at 6500 Doubletree Avenue, the Crowne Plaza Columbus North is convenient to the area’s 20 colleges and universities including Ohio State University, major technology and distribution businesses, and the city’s convention center.  It also offers easy access to shopping centers and Huntington Ballpark, home of the Cleveland Indians’ triple-A baseball team.

 

 “Columbus is a very attractive market, and the hotel is ideally situated, proximate to a number of demand drivers,” said Paul Nussbaum (lower right photo), Waramaug’s chief executive officer.  “Based on our previous experience with Interstate, we’re confident that their operating expertise, combined with the planned property improvements, will drive superior operating and investment results.” 

In addition to the generous meeting space, the eight-story hotel offers an on-site restaurant and lobby lounge, fitness room, indoor/outdoor pool, business center and complimentary high-speed internet access.

For additional information about Interstate, visit the company’s website:  www.ihrco.com.

Contact:

Jerry Daly, Carol McCune                              Carrie McIntyre

Media                                                               SVP, Treasurer

Daly Gray                                                          Interstate Hotels & Resorts

(703) 435-6293                                                (703) 387-3320

jerry@dalygray.com                                         carrie.mcintyre@ihrco.com            

 Patrick Daly

Account Supervisor

Daly Gray, Inc.

patrick@dalygray.com

Office:  (703) 435-6293

Cell:  (703) 300-8289

HFF secures $26 million in financing for two regional malls in North Carolina

WASHINGTON, D.C. – HFF announced today that it has arranged $26 million in financing for Monroe Crossing (top left photo) and University Mall (middle right photo), regional malls in Monroe and Chapel Hill, North Carolina. 

HFF worked exclusively on behalf of Madison Marquette Retail Enhancement Fund to arrange the loans.

 A $10 million, five-year, floating-rate loan was placed with BB&T for Monroe Crossing and a $16 million, three-year, floating-rate loan was placed with PCCP, LLC for University Mall.  Proceeds were used to facilitate refinancings for both properties.

Monroe Crossing is located at 2115 West Roosevelt Boulevard about 20 miles southeast of Charlotte.  The 350,000-square-foot regional mall was most recently renovated in 2010 and is anchored by Sears, JC Penney and Belk.  Occupancy is 83 percent.

University Mall is located at 201 South Estes Drive close to the University of North Carolina at Chapel Hill.  The 90 percent leased mall has 366,000 square feet of space and is anchored by Harris Teeter, Dillards and Southern Season. 

The HFF team representing Madison Marquette Retail Enhancement Fund was led by managing director Mark Remington (middle left photo)

“In a sometimes challenging financing environment for non-fortress malls, the outcomes here represent a big win for our client, allowing it to finish the repositioning processes on these properties that was started when they were acquired,” Remington said.

Madison Marquette is a Washington, D.C.-based investor, developer and operator of retail and mixed-use real estate throughout the United States. 

The company specializes in creating unique retail destinations that respond best to consumer preferences.  With regional offices in Los Angeles, Philadelphia, New York, Charlotte, San Francisco, Boca Rotan, Seattle and San Diego, Madison Marquette seeks investment opportunities in growing markets. 

The company maintains a sophisticated in-house operating capability and oversees 18 million square feet of retail real estate.  This diverse national portfolio includes many properties that Madison Marquette manages and leases on behalf of third-party owners.

 For more information about the company, please visit http://www.madisonmarquette.com.

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         

                                   

Essex Realty Group Brokers Sale of Residential Condominium Building in Chicago, IL

 CHICAGO, IL, Jan. 19, 2012 – Essex Realty Group, Inc. is pleased to announce the sale of 22 S. Western Avenue (top left photo). 

The offering consists of nine bank-owned condominium units (of 12 total residential units) within a new-construction mixed-use building located in Chicago’s Near West Side neighborhood. 

The property has 9 units which each have access to additional storage and a rooftop deck.

Each unit has 2 bedrooms/2 bathrooms and with a total of five rooms they are each 1,250 square feet.  There are nine garage parking spaces allocated to the subject units.

 Doug Fisher (middle right photo) and Matt Welke (lower left photo) of Essex were the brokers in the transaction.  The price was approximately $800,000.

 Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

Contact:

Douglas S. Imber

Essex Realty Group, Inc.

773.305.4902

dougimber@essexrealtygroup.com

www.essexrealtygroup.com

Essex Realty Group, Inc.

2211 N. Elston Avenue, Suite 302

Chicago, Illinois 60614

773.305.4900

Meehan’s to Open Atlantic Station Location and Will Participate in St. Paddy’s Day Party in Atlanta

 ATLANTA, GA – Meehan’s Public House (top left photo) a locally owned Irish pub, will open at Atlantic Station (top right photo) this spring, the first of several planned restaurant openings as the mixed-use center improves its tenant roster.

Meehan’s is known for it classic Irish dishes elevated to a gourmet level. It already has three successful Atlanta-area locations — downtown, Vinings and Smyrna — and will open at Atlantic Station is early May between Cafe Nineteen and Z Gallerie.

 Around the same time, Yard House will open its first Atlanta location. Yard House is an upscale casual eatery known for great food, classic rock music and hundreds of taps of imported, craft and specialty ales and lagers.

“Meehan’s is Chapter One in what will be the story of Atlantic Station’s restaurant re-tenanting,” said Mark Toro (middle left photo), Managing Partner, North American Properties.

“When North American Properties took over Atlantic Station just over a year ago, we asked the people of Midtown what they wanted to see.

“Meehan’s represents well what they said they wanted — a welcoming, locally owned concept with great food and a great atmosphere. We are thrilled to welcome Meehan’s to Atlantic Station and to offer our guests a great new dining option.”

While the newest Meehan’s won’t officially be open for St. Patrick’s Day, the restaurant is partnering with Atlantic Station to present the first-ever Shamrock Station celebration March 17.

The St. Patrick’s Day celebration, sure to be a new tradition for Atlanta, will include Irish music and family activities during the day, as well as a big music headliner (stay tuned for an announcement) and plenty of beer as the day goes on. Meehan’s plans to feature beer trucks and barbecue stations.

Meehan’s, which has three locations in the Atlanta area (downtown, Vinings and Sandy Springs), is the perfect place to gather for a quick lunch, after work gathering, dinner with friends and late-night fun. 

This brand proudly carries forward the message, “Irish Customs, Neighborhood Charm” and the menu features interesting and satisfying twists on Irish and Southern cuisine.

Meehan’s is part of 101 Concepts, a privately owned restaurant group with more than 20 years experience in developing and operating successful restaurant concepts in the Atlanta area. Other restaurants include Food101 in Sandy Springs, Soho in Vinings, Cibo e Beve in Sandy Springs and Coastal Kitchen on St. Simon’s Island.

Visit Atlantic Station on Twitter at twitter.com/atlanticstation or on Facebook at www.facebook.com/AtlanticStation

For More Information, Contact:

Caroline Wilbert

Wilbert News Strategies

404-965-5021 (O) 404-405-6479 (C)

twilbert@wnspr.com

Marcus & Millichap Sells Medical Office Building in Lewisville, TX

LEWISVILLE, TX – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Baylor Surgicare (top left photo) at Lewisville, a 19,896 square-foot single-tenant net-leased property located in Lewisville, according to Jonathan W. Dwoskin (lower right photo), regional manager of the firm’s Detroit office. Terms of the transaction were not disclosed.

Chris Gomes and Ashish Vakhariya, investment specialists in Marcus & Millichap’s Detroit office, had the exclusive listing to market the property on behalf of the seller, a partnership.

The buyer, a limited liability company, was secured and represented by Vakhariya, an investment specialist in Marcus & Millichap’s Detroit office. Tim Speck, a first vice president in Marcus & Millichap’s Dallas office, assisted in closing this transaction.

Baylor Surgicare at Lewisville is located at 1854 Lakepointe Drive.

Press Contact: Jonathan W. Dwoskin, Regional Manager, Detroit

(248) 415-2600

Rockbridge Announces Major Capital Investment in The Wynfrey Hotel in Birmingham, AL

BIRMINGHAM, AL, Jan. 19, 2012—RockBridge announced a preferred equity investment to recapitalize and reposition the 329-room, full-service Wynfrey Hotel (top left photo) in Birmingham, Ala. (the “Wynfrey” or the “Hotel”).

 The Hotel will undergo a comprehensive multi-million dollar renovation, after which it will be reflagged as The Hyatt Regency Birmingham - The Wynfrey Hotel. 

The developer of the hotel and the adjoining Riverchase Galleria and Galleria Tower, Jim Wilson & Associates, LLC, retains an ownership interest in the project. 

Davidson Hotels & Resorts has managed the landmark property since 2009 and facilitated the transaction and branding on behalf of ownership.  James T. Merkel, (middle left photo)  president and CEO of RockBridge, made the announcement.

The renovation will commence in the fall of 2012 and be completed by March 2013.  The Hotel will receive substantial upgrades including an enhanced exterior facade, renovation of all public areas, fitness center, outdoor swimming pool and meeting space.  The guest rooms will be fully refurbished with upgraded bedding and a comprehensive soft and case goods package.

“We fully expect the strength of the Hyatt brand and the multi-million dollar renovation to cement this property’s leadership position as one of the region’s top destinations for area business and leisure travelers,” said Patrick Lupsha (top right photo), Davidson’s chief operating officer.  “We plan to aggressively market the new Hyatt Regency as Birmingham’s leading upper upscale property.”

The Hotel is conveniently located immediately off of I-459 and Highway 31 and is attached to the Riverchase Galleria, (lower right photo)  the largest enclosed mall in Alabama, with more than 1.5 million square feet of retail space. 

The Chancellor’s Club level lodging, accessible only with a private key, offers two floors of deluxe accommodations with exclusive in-room amenities, complimentary continental breakfast and evening reception.  Additional hotel amenities include high-speed Internet access, fitness center, business center, 32,000 square feet of meeting space, and multiple dining options, including Shula’s Steak House.

 “Consistent with our proven investment strategy, this preferred equity investment represents an opportunity to reposition, renovate, and rebrand a quality asset at an attractive basis with considerable upside potential,” said Mr. Merkel.

For additional information, please visit www.davidsonhotels.com,  www.jwamalls.com and www.rockbridgecapital.com.

Contact:

  

 Paul Kesman                                       

 RockBridge                                                         

 (248) 321-2035

                                              

Chris Daly

President

Daly Gray, Inc.

Ph: 703-435-6293

Cell: 703-864-5553