Fifth Oceanfront Condo Tower Proposed For Sunny Isles Beach, FL

MIAMI, FL --A veteran developer with a track record in South America and a growing land portfolio in South Florida plans to build an ultra-luxury condominium tower on an oceanfront site in the barrier island city of Sunny Isles Beach (top left photo) in Northeast Miami-Dade County, according to a new report from CondoVultures.com.

The proposed 35-story Chateau Beach tower - with 84 units and 271,500 square feet on a one-acre site on Collins Avenue - would be the fifth project slated for construction in Sunny Isles Beach in the last six months, according to the CondoVultures.com Preconstruction Condo Projects list.  

Overall, more than 20 new condo tower with 4,300 units are proposed for the coastal area of the tricounty South Florida region despite an estimated 4,200 developer units remaining unsold as of Dec. 31, 2011, according to a preliminary estimate based on the CondoVultures.com Official Condo Buyers Guide™ series.

The next step for the proposed Chateau Beach condo project is on Feb. 16, 2012 when the project’s developer – a Florida entity controlled by the Grosskopf Group of Argentina - is scheduled to appear before the Sunny Isles Beach City Commission for a public hearing on the proposed tower, according to a City of Sunny Isles Beach Notice of Zoning Hearing.    

 The Grosskopf Group develops and invests in residential towers and shopping centers in Argentina and Uruguay. The group has reportedly developed several condo towers including the Chateau Libertador Residence (middle right photo)and Chateau Puerto Madero Residence (lower left photo).

In South Florida, the Grosskopf Group has acquired five developments sites - and counting - around South Florida ranging from the existing Ocean Palm Motel (lower right photo) site on Collins Avenue in Sunny Isles Beach to the former Paramount Park condo tower site at 728 Biscayne Blvd. in Greater Downtown Miami, according to Miami-Dade County Property Appraiser Office records.

The property was put up for auction on Jan. 9, 2012 whereby the lender of record, Chateau Beach LLC with Manuel Grosskopf, won the bidding, clearing the way to obtain title on Jan. 27, 2012, according to Miami-Dade County records.  

Prices are slated to range from $650 to $800 per square foot with a total deposit of 50 percent of the contracted purchase amount.

 The proposed Chateau Beach tower is to offer units that range in size from less than 1,500 square feet to more than 9,000 square feet.

Sunny Isles Beach is a 40-block stretch from the town of Golden Beach boundary south to Haulover Beach Park, Biscayne Bay east to the Atlantic Ocean. Sunny Isles Beach is divided up into three neighborhoods separated by causeways: North, Central, and South.  

 Condo Vultures® LLC is a real estate consultancy and marketing company based at 1005 Kane Concourse, Suite 205, Bal Harbour, Florida, 33154. You can reach Condo Vultures® LLC at 800-750-0517.

Colliers finds creative solution for former Robb & Stucky location in Fort Myers, FL

  

 FORT MYERS, FL--Continuing the trend of finding creative solutions for larger, vacant buildings, a former Robb & Stucky warehouse and showroom in Fort Myers is being converted to become the new home of Fort Myers Preparatory & Fitness Academy, a Class A charter school.

Jim Garinger (lower right photo), CCIM, SIOR, of Colliers International Southwest Florida represented the landlord, Normark Investments, Inc. in working out a 10-year lease deal.

John Paulich, IV, of Jassy Real Estate Investments, Inc, represented the tenant, Fort Myers Preparatory & Fitness Academy.

Preparing for increased enrollment in the 2012-2013 school year, the charter school is remodeling the entire 65,190± square foot warehouse and showroom into 33 classrooms, office space, a cafeteria and athletic facilities.

The new school will accommodate 630 students – 400 more than its current facility holds.

About 40 percent of the space in the renovated building will be devoted to athletics, since each student is required to take karate, while also participating in tennis and other sports.

“Part of our work involves helping landlords in suggesting and finding solutions for large spaces like this one,” said Garinger, Principal and Managing Director of Colliers International Southwest Florida. “Tenants that are willing to work with a landlord in adapting space can get a very attractive deal right now, cost-wise.”

Contact:

Leah Saunders

Bayview Public Relations

(727) 895-5030 ext. 104 (office)

(813) 924-0367 (cell)

Leah@BayviewPR.com

Bascom Closes 207-Unit Apartment Community in Atlanta, GA for $8.1 Million

IRVINE, CA PRNewswire/ -- The Bascom Group, LLC, in joint venture with BRT Realty Trust, has acquired Ivy Ridge, a 207-unit community located in Marietta, Georgia for $8,100,000.

The purchase price represented a 47% discount to the seller's prior total cost basis and a 29% discount to the seller's loan balance. 

Bascom worked with Jeff Gould and Lonnie Halpern from BRT Realty Trust for the equity financing. Debt financing was arranged by Gary E. Mozer and Josh Roseman from George Smith Partners. Kevin Geiger, Brad Simmel, and Shea Campbell from CBRE represented the seller for the transaction.

Commented Chad Sanderson (middle right photo), Principal for Bascom, "This represents another acquisition in the Atlanta metro of a distressed, lender-driven sale.

“lthough the Class B and C properties have been hit hard by unemployment and the broader economic challenges in Atlanta, we are bullish on the prospects for a recovery over the next five years."

Jerome Fink (lower left photo), Managing Partner of Bascom, added, "Ivy Ridge is the eighth new acquisition that we have completed in the past 18 months. Ivy is a great example of what we are targeting: properties with solid in place numbers with additional value add potential."

 Ivy Ridge consists of 100% two and three-bedroom units with large floor plans that have an average unit size of approximately 1,361 square feet. Unit interiors feature private balconies and patios, walk-in closets, washer/dryer connections, and attractive hardwood vinyl flooring. Built in 1973, the property is spread over approximately 17.31 acres and offers a full amenity package, which includes a pool, fitness center, laundry room, and children's playground.

If you'd like to schedule an interview with one of the partners, please call Chad Sanderson (949-955-0888 ext 23) or e-mail at csanderson@bascomgroup.com.

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

Premier South Beach Hotel in Florida,, Formally Known as Gansevoort, Purchased by Starwood Capital Group, LeFrak Organization and Invesco

GREENWICH, CT. and NEW YORK,  NY /PRNewswire/ -- A consortium consisting of affiliates of Starwood Capital Group, the  LeFrak Organization and Invesco Ltd. announced today that they have jointly purchased one of South Beach, Miami's premier luxury mixed-use properties, including a hotel formally known as the Gansevoort (above centered photo)

The property consists of 334 hotel rooms, 255 condo units totaling 294,000 square feet, 90,000 square feet of retail space including a 42,000 square foot David Barton Gym, three outdoor swimming pools, and multiple indoor and outdoor food and beverage venues.

The property also includes a 26,000 square foot rooftop pool and lounge with sweeping ocean views, a 32,000 square foot elevated pool plaza and restaurant, and a 48,000 square foot private beach. The property occupies the entire block between 23rd and 24th Sts. on Collins Ave. and enjoys more than 600 linear feet of beach frontage.

Terms of the transaction were not disclosed.

The consortium is planning to invest more than $100 million in an extensive renovation of the overall property while repositioning it as one of the premier hotel and condo destinations in Miami Beach. The 334-room hotel will be renamed The Perry South Beach until it is re-launched in late 2013 with a new brand after an extensive renovation.  The 255 luxury residential condominiums will also be improved and, it is anticipated, be offered for sale later this year.

The condominiums will have access to the full hotel services as well as the project's pools and extensive food, beverage and fitness venues. The repositioning will also include several new local and national stores and restaurants in the retail corridor along Collins Avenue (lower right photo). For more information on The Perry, please visit its Web site at URL www.perrysouthbeachhotel.com.

Barry Sternlicht (top right photo), the Chairman and CEO of Starwood Capital Group, is widely known for revolutionizing the hospitality industry during his 10-year tenure as the Founder, Chairman and CEO of Starwood Hotels and Resorts, including being personally credited with the creation of the W and St. Regis Hotel brands.

"This is an incredibly exciting opportunity to create a premier luxury hotel and residences along one of the world's most beautiful and popular beaches at a time when global interest in the Miami marketplace is close to surpassing its all-time high," Mr. Sternlicht said.

 "This is a powerhouse asset with a unique beach footprint in one of the strongest hotel markets in the nation with high barriers to entry. We are excited to create an outstanding destination resort and residences in this dynamic city. Importantly, this partnership has extensive experience and a proven track record of successfully investing in and managing thousands of properties in this region."

"This investment represents both a strategic move into the vibrant Miami market as well as an expansion of our company's investments in the hospitality sector," said Richard LeFrak (middle left photo), Chairman and CEO of the LeFrak Organization. "We, in partnership with Invesco, are excited to combine our expertise with that of Starwood to renovate and reposition this property."

Invesco participated in the transaction through its Invesco Mortgage Recovery Fund, a fund co-managed by its Invesco Real Estate, Invesco Fixed Income and WL Ross & Co. LLC investment centers.

Starwood Capital, LeFrak and Invesco all also participated in ST Residential, which acquired the loans and real estate owned assets formally owned by the failed Corus Bank, including more than 2,000 condominium units in Miami. The recent pace of sales of condominiums in Miami encouraged members of the consortium to pursue further investments there.

The property was sold by entities controlled by Credit Suisse, which had acquired it through foreclosure in 2010.

Contact:

 For Starwood Capital Group: Tom Johnson or Patrick Tucker, Abernathy MacGregor Group, +1-212-371-5999

 For LeFrak Organization: Ed Cortese, +1-212-708-6600

 For Invesco Ltd.: Bill Hensel, +1-404-479-2886

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

Griffin-American Healthcare REIT II Acquires Medical Office Buildings in Florida, Georgia and South Carolina

  

NEWPORT BEACH, CA /PRNewswire/ -- Griffin-American Healthcare REIT II (formerly known as Grubb & Ellis Healthcare REIT II) announced that it has acquired three medical office buildings in Florida, Georgia and South Carolina for an aggregate purchase price of $25.1 million.

  As of Jan. 30, 2012, the company's portfolio totaled 70 buildings valued at approximately $630 million, based on purchase price.

Totaling approximately 117,000 square feet, the three medical office buildings enjoy high occupancy and are either located on the campus of, or in close vicinity to, a regional medical center.

"We believe the aging of America is driving demand for healthcare services constantly higher throughout the country," said Danny Prosky (top right photo). 

"Griffin-American Healthcare REIT II is designed to take advantage of this demographic wave through the acquisition of clinical healthcare facilities that produce immediate income for our investors.  These latest additions to our portfolio meet these criteria and build upon our institutional-quality nationwide portfolio."  

Boynton East Medical Office Building (top left photo) -  Boynton Beach, Florida

Boynton East Medical Office Building is a two-story, 28,000-square-foot facility built in 2003 on the campus of the 400-bed Bethesda Memorial Hospital in Boynton Beach, Florida.  The property is 95 percent leased to eight tenants, the largest of which is Bethesda Memorial, which occupies more than 46 percent of the building.

East-West Medical Office Building (middle right photo) - Austell, Georgia

East-West Medical Office Building is a single-story, 42,000-square-foot facility built in 1999 in the Atlanta suburb of Austell, Georgia.  The property is 100 percent leased to two tenants, the largest of which is Ortholink Physicians Corporation, which occupies nearly 79 percent of the building.  The 382-bed WellStar Cobb Hospital, which employs more than 11,000 people, is located approximately one-half mile from East West Medical Office Building.

Okatie Medical Office Building (lower left photo) - Okatie, South Carolina

Okatie Medical Office Building is a three-story, 47,000-square-foot facility built in 1997 in Okatie, South Carolina.  The property is approximately 91 percent leased to three tenants, including Hilton Head Regional Healthcare System, which occupies nearly 82 percent of the building.

Griffin-American Healthcare REIT II financed the acquisition through the assumption of $11.9 million of existing debt, $12 million in borrowings under its line of credit with Bank of America, N.A., as well as net cash proceeds received from its offering.

As of Sept. 30, 2011, the company's property portfolio was 97 percent leased with a weighted average remaining lease term of approximately ten years and leverage of 25.6 percent.

Griffin-American Healthcare REIT II has sold approximately 49,142,228 shares of its common stock, excluding the shares issued under its distribution reinvestment plan, for approximately $490,386,000 through its initial public offering, as of Jan. 27, 2012.

About Griffin-American Healthcare REIT II, Inc. (formerly known as Grubb & Ellis Healthcare REIT II)

For more information regarding Griffin-American Healthcare REIT II, please visit www.HealthcareREIT2.com.

 Contact:        

 Damon Elder

delder@ahinvestors.com

(949) 270-9207

Web Site: http://www.HealthcareREIT2.com

Voit Real Estate Services Expands Sacramento Brokerage With Addition of Carol Sitzenstatter

SACRAMENTO, CA –Voit Real Estate Services’ Sacramento office has announced the addition of Carol Sitzenstatter (top right photo) to its brokerage team as Vice President of leasing and sales, according to Kevin Sheehan (lower left photo), Managing Director of Voit’s Sacramento office. 

Sitzenstatter brings nearly 30 years of experience in brokerage, asset management and property management in various Northern California markets to Voit.

As Vice President of leasing and sales, Sitzenstatter will specialize in Sacramento’s office and retail markets.

“As Voit’s Sacramento brokerage continues to grow, we are committed to seeking the best and brightest in the industry,” said Sheehan.  “Carol’s experience and market knowledge will be an enormous asset to our team, and she will be a key player as we continue to serve our clients throughout Sacramento.”  

Prior to joining Voit, Sitzenstatter served as Vice President of leasing and sales at Colliers International, where she specialized in office and industrial properties.  During her three years at Colliers, Sitzenstatter completed more than 60 transactions including a number of business park and office building listings in excess of 650,000 square feet.

Sitzenstatter also served as Vice President, District Manager at RREEF.  In this role, she was responsible for the leasing and marketing of portfolios with combined assets totaling three million square feet.

Sitzenstatter began her career in commercial real estate as a leasing specialist where she gained experience negotiating deals with individual investors, institutional investors, landlords and tenants in industrial, office, R&D and retail markets.  Throughout her career, Sitzenstatter has also gained extensive experience in property and asset management.  

Sitzenstatter earned her degree in Business Administration from California State University, Chico.  She is a member of the Association of Commercial Real Estate (ACRE), and Commercial Real Estate Women (CREW).  She is currently an SIOR candidate.

Contact:

Judith Brower / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

JQuader@browermillercole.com

www.voitco.com

Voit Helps Orange County Construction Co. Acquire 44,300-SF Industrial Warehouse in Orange, CA

 ORANGE, CA – Voit Real Estate Services’ Anaheim office has successfully directed the $5.1 million sale of a 44,340 square-foot industrial property (top left photo) located at 749 N. Poplar Street in Orange, Calif.

 Based on consideration and square footage, this transaction was the largest industrial owner-user sale of 2011 within the city of Orange, according to Seth Davenport (top right photo), Senior Vice President in Voit’s Anaheim office.

Davenport worked with Mitch Zehner (lower left photo), Executive Vice President in Voit’s Anaheim office, to represent the buyer and the seller in the transaction.

“As the health of the industrial market continues to improve, now is the time for companies to buy industrial properties at highly competitive prices,” said Davenport. “Since the supply of industrial space is greatly limited in Orange County, we are beginning to see more motivated buyers and sellers in this market, which is an excellent indication of economic stability.”

The buyer is a company that specializes in architectural concrete construction, and plans to use this manufacturing industrial warehouse for its operations.

Contact:

Judith Brower / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

JQuader@browermillercole.com

www.voitco.com

Voit Reports Positive Net Absorption for 10th Consecutive Quarter in Inland Empire Industrial Market; Vacancy is down 22 percent from 2010

 INLAND EMPIRE, CA – In the fourth quarter of 2011, the Inland Empire industrial market displayed positive net absorption for the tenth consecutive quarter, posting 1.8 million square feet, for a total of 13.6 million square feet in all of 2011, according to the Fourth Quarter Market Report from Voit Real Estate Services.

The market demonstrated steady activity in Q4 2011, as vacancy dropped 22 percent below its 2010 rate and construction began on a number of large industrial properties, according to Walt Chenoweth (top right photo),  Executive Vice President of Voit’s Inland Empire office.

“The demand for industrial space has picked up, and we are seeing renewed interest in sales transactions.  In 2011, activity was higher in the first two quarters of the year than in Q3 and Q4, but that is likely due to the lack of available large industrial space in the marketplace,” said Chenoweth. 

 

“With construction now underway on big-box industrial properties, we expect to see strong leasing activity for large blocks of space in 2012. 

"We also anticipate that tenants will continue to sign longer-term leases as lease rates begin to rise.  These are all positive indicators that the market is steadily recovering, and we expect to see continued stabilization as job growth occurs.”

Job growth is crucial to the recovery of the Inland Empire market, and the numbers are finally beginning to move in the right direction, according to Chenoweth.  Unemployment steadily decreased in late 2011, and the LAEDC is predicting that 15,300 new jobs will be added in the Inland Empire area in 2012.

For a complete copy of the company’s news release, please contact:

Judith Brower / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

JQuader@browermillercole.com

www.voitco.com

Arbor Promotes John Caulfield to Chief Operating Officer

UNIONDALE, NY– Following a year in which the company exhibited record agency loan origination volume, Arbor Commercial Mortgage, LLC (“Arbor”), a national, direct commercial real estate lender, announces the promotion of John Caulfield (top right photo) to Chief Operating Officer. Mr. Caulfield previously held the title of Executive Vice President, Director of Operations.

 In Mr. Caulfield’s new role, his scope of responsibilities will expand to include oversight of Arbor’s $5.8-billion Multifamily loan servicing portfolio as well as a heightened level of business collaboration and engagement with Arbor’s valued business partner, Fannie Mae. Arbor is the sixth-ranked Fannie Mae DUS® Multifamily lender, as measured by total origination volume.

 In addition to his new responsibilities, Mr. Caulfield will continue to oversee Arbor’s Sales Origination, Capital Markets and Underwriting departments as well as all aspects of the company’s loan process, from screening to closing. He is also responsible for managing the company’s trading and investment banking partnerships.

 “Under John’s leadership, Arbor has significantly grown its Fannie Mae DUS® and FHA lending business market share while improving its operational efficiencies over the course of several challenging real estate market cycles. That tireless work recently culminated in a record origination volume year for the company across our primary agency lending businesses,” said Ivan Kaufman (middle left photo), Arbor’s Chairman and CEO.

“In understanding and uncovering the growth potential of every facet of Arbor’s business platforms, John has managed to develop the necessary infrastructure and processes that have become part of the foundation of Arbor’s success and continual growth. In the new role of Chief Operating Officer, John will undoubtedly help lead Arbor to even greater milestones and, most importantly, help our clients better achieve their financial goals.”

During his more than two decades with Arbor, Mr. Caulfield has helped Arbor rapidly climb the ranks of the Top 10 Fannie Mae DUS® Multifamily lenders, ascending from 10th to sixth within the past four years alone. He has also played a critical role in recently expanding Arbor’s Bridge Loan and FHA lending business.

 Mr. Caulfield is a member of Arbor’s Fannie Mae DUS® Loan Committee as well as its Executive Committee. He is also a member of the Mortgage Bankers Association.

Contact:  Christopher Ostrowski, costrowski@arbor.com

Marcus & Millichap Arranges $4.48 Million Sale of Apartment Complex in Tampa. FL

TAMPA, FL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Fredericksburg Apartments (top left photo), a 187-unit apartment complex located in Tampa, Florida, according to Bryn D. Merrey, vice president and regional manager of the firm’s Tampa office.

The asset commanded a sales price of $4,480,000.

Casey Babb (middle right photo), CCIM, a senior multifamily specialist in Marcus & Millichap’s Tampa office, had the relationship with the seller, the original developer, as well as his approval to selectively market the property for sale. 

The buyer, a limited liability company from Tampa, Florida, was secured and represented by Michael P. Regan (middle left photo), an associate vice president investments, Francesco P. Carriera (lower right photo) a senior associate and Nicholas Meoli, (lower left photo)multifamily investment specialist also in the firm’s Tampa office.

Fredericksburg Apartments was built in 1968 and is located at 13142 North 22nd Street. 

“Fredericksburg was not actively on the market but through internal collaboration, we were able to bring together a motivated seller with an active buyer and structure a win-win for everyone” comments Babb. 

“The property is in need of a major rehab and the buyer was able to secure seller financing equal to 90 percent of the purchase price, in exchange for a written commitment to invest a minimum of $500,000 into the property within the first six months of ownership.”

 

Press Contact:

Bryn D. Merrey

Vice President and Regional Manager, Tampa

(813) 387-4700

Marcus & Millichap Facilitates Sale of Spruce Creek Preserve Golf Club in Dunnellon, FL for $1.3 Million

 DUNNELLON, FL – The National Golf & Resort Properties Group of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Spruce Creek Preserve Golf Club (top left photo), an 18-hole golf course located in Dunnellon, Florida, according to Steven Ekovich, Director of the National Golf & Resort Properties Group based in the firm’s Tampa office.

The asset commanded a sales price of $1,325,000.

Matthew Putnam (middle right photo) , Investment Associate and lead agent on the asset sale and his team of Steven Ekovich (lower left photo) and Christopher Karamitsos (lower right photo) , had the exclusive listing to market the property on behalf of the seller, a developer based out of Maitland, Florida.  They also secured the buyer of the property, a private investor, from Windermere, Florida.

“The sale was really a win-win for both the buyer and the seller” says Putnam.   “The buyer purchased a golf course that fit into his geographic golf portfolio. They will benefit from the economies of scale created by the other courses in the area he owns. The seller was able to divest of an asset that was no longer vital to their core business and received a very fair price in today’s market” adds Putnam.

The Preserve Golf Club is a Terry Dos designed, championship 18-hole golf course situated on 179 acres. It is the centerpiece to Del Webb's surrounding Spruce Creek development, an age-restricted, active-adult retirement community located on 416 acres and surrounded by Ross Prairie State Forest.

The Preserve is well-maintained and highlighted by its signature waterfall hole. Built in 1997, the club also offers casual dining from its 5,400-square foot clubhouse at the Sandwedge Cafe.

Press Contact:

Steven Ekovich

Vice President and Director

 National Golf & Resort Group

(813) 387-4700

Bob Wilkerson Joins Bull Realty

ATLANTA, GA – Bob Wilkerson (top right photo), who has extensive experience in commercial real estate, finance, marketing and consulting, has joined Bull Realty as an associate broker in the firm’s National Office Group. At Bull, Wilkerson will focus on the leasing, marketing and selling of office and other property types.

Prior to joining Bull Realty, Wilkerson was an agent in The Quin Group in Norcross, Ga., where he handled the selling and leasing of office and industrial properties in the Gwinnett/North Fulton area.

Before beginning his real estate career, Wilkerson was a senior consultant with Computer Sciences Corp. and, later, the vice president and founding partner of Sterling Associates LLC, an international consulting firm.

He also worked for AT&T for 29 years in management and marketing. He is a member of the Atlanta Commercial Board of Realtors and the Realtor’s Commercial Alliance, which is a part of the National Association of Realtors.

Wilkerson said he joined Bull Realty because of the support the firm offers its agents. “I was very impressed with the resources – the research and market information – that agents are provided here,” he said. “I was also impressed with [firm president and founder] Michael Bull, and his approach to marketing.”

“We are very excited about bringing Bob Wilkerson into the Bull Realty family,” said Michael Bull (middle left photo). “He brings a diversity of experience and expertise that will serve our firm well and will bring tremendous value to our clients.”

An active member of the community, Wilkerson has served as chairman of the Norcross Downtown Development Authority and as president of the Norcross Lions Club.

He also was a member of the steering committee for Norcross’ 20-Year Comprehensive Plan. He holds a BA in Economics from San Jose State University and an MBA from Golden Gate University in San Francisco.

Bull Realty Inc. is a full-service commercial real estate brokerage firm providing investment sales services throughout the nation and corporate services in the Southeast. The firm was founded 14 years ago with two primary missions: 1) to provide a company of stellar integrity and reputation and 2) to provide the best commercial real estate marketing in the nation.

Contact:

Caroline Wilbert

Wilbert News Strategies LLC

404-965-5021

cwilbert@wnspr.com

Marshall Hotels & Resorts, Inc. Adds Six Management Contracts; Closes Out 2011 with Record 19 Additions to Management Portfolio

  

 SALISBURY, MD—Officials of Marshall Hotels & Resorts, Inc., a leading, Maryland-based hotel management and services company, announced that the company closed out 2011 by signing six new contracts in December, bringing the total number of new assignments for the year  to 19 and increasing its total managed portfolio to 62 properties. 

The six hotels are:

• 143-room Comfort Inn & Suites Alexandria, VA
• 104-room Comfort Inn Dulles, Herndon, VA
• 111-room Comfort Inn,  Falls Church, VA;
• 125-room Comfort Inn & Suites College Park,  Maryland
• 148-room Clarion Inn Waco, Texas;
• 77-room Hampton Inn & Suites Marksville, Louisiana
  
  
  
  
  “At the start of the year, we estimated we would add 10 new contracts to our management portfolio, as investors were taking a wait-and-see approach to the economy,” said Mike Marshal (top right photo)l, president and CEO.
  
  
   “As the year progressed, owners began to acquire properties and seek better operators for their existing hotels, and we were able to nearly double our original target and take on our first international assignment in St. Thomas.
  
  
  
  “These additions to our management portfolio give us solid distribution east of the Mississippi, and with our hotels in Texas and Louisiana, we have put the infrastructure in place to look even further westward for similar growth opportunities in 2012.” 
  
  
  About the properties:
    
  ·         Comfort Inn & Suites Alexandria (top left photo) – With a free shuttle to the Metro station, this hotel, located at 5716 Van Dorn St. in Va., is an affordable, accessible alternative to downtown D.C. hotels.  The property offers a complimentary hot breakfast, high-speed Internet access, an outdoor pool and fitness center 
  
  
  
  ·         Comfort Inn Dulles (middle right photo) – Located at 200 Elden St. in Herndon, Va., this hotel offers a free shuttle to Washington’s Dulles Airport and is convenient to many D.C.-area attractions.  Guests of this pet-friendly hotel enjoy such complimentaries as hot breakfast, high speed Internet and HBO.
  
  
  ·         Comfort Inn Falls Church (middle left photo) – Convenient to Arlington National Cemetery, this hotel is located at 6111 Arlington Blvd. and offers scheduled shuttle service to the nearby Ballston Metro station for easy access to D.C. attractions, like the Smithsonian Institution.  Hotel amenities include an outdoor pool, new fitness center, complimentary hot breakfast, Wi-Fi and local calls.
  
  
  
  ·         Comfort Inn & Suites College Park (lower right photo) –  Less than a mile from the University of Maryland and only minutes from NASA’s Goddard Space Center, this hotel is located at  9020 Baltimore Ave.  Hotel amenities include free shuttle to nearby attractions, complimentary hot breakfast, Wi-Fi and morning newspaper, as well as an outdoor pool and fitness center.
  
  
  ·         Clarion Inn Waco (lower left photo) – Located at 801 South 4th St., this hotel is across from Baylor University and just a few miles from the Texas Rangers Hall of Fame and River Bend Park.  An atrium restaurant, Big Daddy’s, serves breakfast and dinner at this pet-friendly hotel, which also features a heated indoor pool and fitness center, 24-hour business center and in-room microwaves and refrigerators.
  
  
  
  ·         Hampton Inn & Suites Marksville – Across from the Paragon Casino in La., this hotel is located at 6896 Highway 1 in Mansara and is just 30 minutes from historic Alexandria.  This recently opened property features the brand’s signature Clean and Fresh Hampton Bed, a heated indoor pool and fitness center, as well as a complimentary casino shuttle, breakfast, Internet access and HBO.
  
  
  Additional information about Marshall Management may be found at the company's Web site: www.marshallhotels.com.
  
  
   Contact:      
  Patrick Daly, media
  Daly Gray Public Relations
  (703) 435-6293
  patrick@dalygray.com