Sperry Van Ness® / SVN Management, Inc. Broker Forum a Huge Success

IRVINE, CA (Feb. 15, 2011) - Sperry Van Ness® / SVN Management, Inc. held its quarterly Broker Forum event on January 31, 2012 at The Pacific Club (middle left photo) in Newport Beach, Calif. 

With more than 150 guests in attendance, the free, networking event attracted brokers from various companies who shared their listing inventory with fellow attendees.

 “The Broker Forum’s were created in the spirit of broker cooperation and collaboration to foster networking of local commercial real estate brokers,” said David Mashian, vice president of business development for Sperry Van Ness® / SVN Management, Inc.. “Attendees were very happy with the networking and presentations at the event.”

 The Broker Forum was sponsored by the Orange County CCIM and the Board of Realtors as well as many corporate sponsors including Bank of America, Globe St. IPX 1031 and George Smith Partners.

 According to Mashian, the presentations outlined that buyers wanting to purchase distressed commercial real estate in the future will most likely have to buy the notes from the banks, and will be responsible for foreclosing on the asset to get possession.

 It was demonstrated that much of the distressed assets exists as shadow inventory and will take the next three or more years to clear through.  Furthermore, it was made clear that much of the discount in pricing for assets in the market reflect true market value and to be cautious when purchasing.

 Sperry Van Ness® / SVN Management, Inc. holds Broker Forum events every quarter. The next event will focus on social networking, applications and technology for commercial real estate brokerage. 

“We want to make the Broker Forum a value added experience for commercial real estate brokers where the presentations, networking contacts and sponsors will bring real benefits to attendees,” said Burton Young (top right photo), president of Sperry Van Ness® / SVN Management, Inc.  “Our company is very much about bringing benefits to all our agents and the brokerage community through proactive cooperation and collaboration.”

For further information, contact:

David Mashian | Vice President, Business Development

Sperry Van Ness – Irvine | SVN Management, Inc.

18881 Von Karman Avenue, 8th Floor | Irvine, CA 92612

Mobile 310-903-6907 | Direct 949-705-5006

Megan Morales

Sperry Van Ness

714.273.2472

megan.morales@svn.com

McCarthy Completes Second Phase of Expansion and Remodeling for Scripps Mercy Hospital Emergency Department and Trauma Center in San Diego, CA

 

 SAN DIEGO, CA – McCarthy Building Companies, Inc., (www.mccarthy.com) has completed construction of the 13,500-square-foot addition to the emergency department and trauma center at Scripps Mercy Hospital, located at 4077 Fifth Ave. in the Hillcrest area of San Diego. 

Scripps Health officials recently dedicated the expanded facility, renaming it the “Conrad Prebys Emergency & Trauma Center” in honor of its largest donor.

Representing the second phase of a four-phased, $41.3 million expansion and remodeling project, the new addition doubles the size of the existing emergency department and trauma center to encompass a combined 27,000 square feet of space. 

 Scripps Mercy Hospital San Diego is the largest hospital in the county and host to one of the busiest emergency centers in the region, accessible 24 hours a day, seven days a week.

Some 60,000 patients were treated in the hospital’s emergency department in 2011, averaging 164 patients per day. Scripps Mercy Hospital San Diego also operates the busiest trauma center in the county, providing trauma care to more than 2,400 patients each year.

 When fully complete, the Conrad Prebys Emergency & Trauma Center will accommodate 49 beds -- double the number of beds previously available. 

"Working within the constraints of the compact project site without interfering with the fast-paced operations of the existing emergency and trauma center presented significant challenges to workers at the site, who had to be prepared at all hours to respond quickly to matters as they arose, such as night time emergency helicopter traffic,” explained McCarthy Project Director Steve Van Dyke. “Moving forward, we’ll remain in close communication with Scripps Health officials to ensure that construction continues to go smoothly and hospital staff are able to perform their jobs unimpeded.”

“Scripps Mercy Hospital San Diego is a Level I Trauma Center, the highest designation for trauma care assigned by the American College of Surgeons,” stated Scripps Health Project Manager Kirk Collins, who is overseeing the project. “This expansion is allowing us to further enhance our reputation as being a national leader in trauma and critical injury care.” 

 National design firm HDR is the architect.  Project team consultants include Degenkolb as structural engineer, Latitude 33 as civil engineer, Syska Hennessy as electrical and mechanical engineer, and MW Peltz Associates as landscape architect. 

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

Contact:

Bonnie Kutch

Director

619-299-1010

Kutch & Company

3904 Groton Street | Suite 203 | San Diego, California 92110

www.kutchco.com

Atlantic | Pacific Companies Names Tricia Carlson Director of Operations for New Atlanta Office

  

MIAMI, FL,  Feb. 15, 2012) – Atlantic | Pacific Companies (A|P), a fourth generation real estate company, is pleased to announce the addition of Tricia Carlson (top right photo) as Director of Operations.

 Carlson joins the company under its property leasing and management platform, Atlantic | Pacific Management (APM). She comes with over 25 years of multifamily experience and will be based in A|P’s new Atlanta office which anchors all of APM’s growth outside of Florida.

 Prior to joining A|P, Carlson was Group Vice President of Post Properties, Inc., a multifamily owner, manager, and developer. As an experienced leader in multifamily development and management, Carlson has worked in multiple markets to include Atlanta, Charlotte, Metro DC, and New York.

She managed a portfolio of over 6,000 units comprised of high-rise, mid-rise, mixed-use, and garden-style properties with an asset value over $1 billion with annual revenues of over $100 million.

Carlson has a B.S. degree from Brenau University in Gainesville, GA, is a Certified Property Manager (CPM®), and holds a Georgia Real Estate Broker License. She also serves on the Board of Directors for Covenant House Georgia.

 Mark Briggs (lower left photo) the Senior Managing Director at A|P states “We are delighted to add Tricia to our senior management team.  She is well respected in the multifamily industry. Her experience and leadership skills will further position A|P as a market leader in apartment property management.”

 For more information, visit www.apmanagement.net. 

For more information, please contact Randy Weisburd at rweisburd@apmanagement.net.

Contact: Jessica Wade Pfeffer / Jessica Wade Inc. Jessica@jessicawadeinc.com

305.804.8424

HFF San Diego hires Nicholas Psyllos as senior managing director

SAN DIEGO, CA – HFF announced today that Nick Psyllos (top right photo) has joined the firm as a senior managing director in its San Diego office. 

Mr. Psyllos will lead the local investment effort and spearhead the growth of the investment sale platform in HFF’s San Diego office.  He will be working alongside HFF senior managing director Tim Wright who heads the local debt and structured finance platform.

Mr. Psyllos has more than 31 years of experience in commercial real estate investment sales and has closed more than $3.2 billion in office and industrial transactions during his career.  He joins HFF from CBRE, where he was a senior vice president in the firms’ Investment Properties Group.  

Mr. Psyllos began his career with CBRE’s predecessor, Coldwell Banker Commercial.  He is a graduate of Claremont Men’s College with a degree in Economics and is a licensed real estate broker in California.

“We are excited to welcome Nick to the HFF team, where he will play an integral role in establishing and growing the investment sales group in the San Diego office. said Tim Wright (lower left photo), senior managing director in HFF’s San Diego office.

“Over the last 12 months, we have sold more than $300 million in retail, multi-housing and office transactions in San Diego County.  Nick’s deep relationships with private and institutional owners coupled with his expertise in industrial, R&D, and office product will further this momentum. 

“This strategic addition will greatly enhance our growing investment sales platform in California and will help us better serve our clients in the San Diego and Southern California regions,”

Contacts:                         

TIMOTHY D. WRIGHT                           KRISTEN M. MURPHY

 HFF Senior Managing Director          HFF Associate Director, Marketing

 (858) 812-2341                                     (713) 852-3500

 twright@hfflp.com                                 krmurphy@hfflp.com

Lincoln Property Company Southeast Brokers Two Major Industrial Leases in South Atlanta

ATLANTA, GA – Lincoln Property Company Southeast has closed two major industrial leases in South Atlanta to start 2012.

 Haas Group International Inc. has leased 113,104 square feet at Westridge Logistics Center (top left photo) in McDonough, Ga, bringing the facility to a 75 percent occupancy rate.

 Denton Shamburger (middle right photo), vice president of industrial leasing forLincoln, represented the landlord, Morgan Stanley, in the transaction, while John Lancaster (lower left photo) of NAI Robert Lynn represented the tenant, which provides environmentally compliant chemical-management services for a diverse globalclient base. Haas has 44 distribution centers in 22 countries.

Shamburger also represented Morgan Stanley in Chick-fil-A’s lease of 37,141 square feet at Airport West Distribution Center in Atlanta. The restaurant chain, which was already leasing 103,178 square feet at the center on Buffington Road near Chick-fil-A’s headquarters, quickly leased space that became available due to an early lease termination. With Chick-fil-A’s expansion, Airport West remains 100 percent occupied.

“We are proud of our team’s work in securing these noteworthy leases,” said Tony Bartlett, senior vice president of Lincoln Property Company Southeast. “They represent some early ‘green shoots’ of growth in our South Atlanta industrial market and are further examples of our ability to deliver leasing results to our clients.”

 For more information on the Southeast Region of Lincoln Property Company, please visit www.lpcsoutheast.com.

 To check out the blog, go to http://blog.lpcsoutheast.com.

Contact:  Stephen Ursery, sursery@wnspr.com

Voit Real Estate Services Directs Seven Transactions Totaling $11 Million in Southern California

  

SOUTHERN CALIFORNIA, (Feb. 15, 2012) – Voit Real Estate Services has directed seven transactions in Southern California totaling 277,845 square feet for a total consideration of $11.2 million.

Transaction #1

Trent Walker, a Senior Vice President in Voit’s Irvine office, directed the $2.5 million sale of a 16,240 square-foot indusial property located at 27402 Aliso Viejo Parkway in Aliso Viejo, Calif.  Walker represented the seller, Ossur Americas, Inc., a global producer of orthopedics. The buyer was Saddleback Associates.

Transaction #2

 Trent Walker and Gregory Velastegui of Voit’s Irvine office completed the sale of a 40,060 square-foot indusial property in Santa Ana, Calif. for a total consideration of $2.47 million. Walker and Velastegui represented the seller, Harvard 5 Partners, and the buyer, Woogie Investments, Inc.  The property is located at 3433 Harvard in Santa Ana, Calif.

 Transaction #3

Keith Kropfl, a Senior Vice President in Voit’s Irvine office, directed the sale of a 48,206 square-foot retail property located at 14515-14598 7th St. in Victorville, Calif. for a total consideration of $2.15 million. Kropfl represented the seller, IPTV-B-L6-144, LLC. The buyer was The JNJ Texas Enterprises, LLC.

Transaction #4

Skyler Serrano, a Senior Associate in Voit’s Irvine office, directed a new five-year lease of a 151,589 square-foot industrial property located at 1509 Bluff Road in Montebello, Calif. for a total consideration of $1.4 million.  Serrano represented the lessee, Truck Terminals Plus, LLC, which plans to use this property to expand its business in the Los Angeles County market. The lessor, Short Line, LLC, was represented by Peter Bacci of Lee & Associates-Commerce, Inc.

Transaction #5

 

 Paul Caputo, a Vice President in Voit’s Anaheim office, completed a 12,556 square-foot industrial acquisition located at 10540 Ashdale St. in Stanton, Calif. for a total consideration of $1.206 million. Caputo represented the buyer, EZ Nails Inc. The seller was Wanda L. Compton Trust.

Transaction #6

Brian Williams and Stan Kwak of Voit Real Estate Services’ Anaheim office completed the acquisition of a 6,982 square-foot industrial property for a total consideration of $802,930. The property is located at 1770 Miraloma in Placentia, Calif.  Williams and Kwak represented the buyer in the transaction.

Transaction #7

Jeff Mitchell and Gil Marrero of Voit’s Irvine office directed the sale of a 2,212 square-foot office property in Newport Beach, Calif. for a total consideration of $675,000. Mitchell and Marrero represented the seller, Shigeru & Yumiko Takada. The buyer was The Kamran Family Living Trust. The property is located at 2072 Orchard Ave. in Newport Beach, Calif. 

 Contact: 

Judith Brower/ Jenn Quader

Brower, Miller & Cole

(949) 955-7940

JQuader@browermillercole.com

Atlanta Offices Sell for More than $250 Per SF with 90 Percent Financing

ATLANTA, GA (Feb. 14, 2012) – Bull Realty has brokered the sale of two Atlanta-area office properties to law firms.

“These transactions are good signs for the Atlanta office market,” said Michael Bull (top right photo), president and founder of Bull Realty.

 “The sales are examples of businesses buying properties for their businesses. These properties were not distressed, are in quality, strategic locations, and they sold for more than $250 per square feet. Plus the buyers received 90 percent financing – that is good news for this market.”

Andy Lundsberg (middle left photo), a vice president in Bull Realty’s Corporate Office Services group, represented The Bartlett Co., a home construction firm, in its $1.2 million sale of 1629 Monroe Drive, a 4,780-square-foot office property near Midtown Atlanta. Attorney C. Michael Johnson (lower right photo) purchased the property through his Carey Arnold Properties – Georgia LLC.

Lundsberg also represented Marjorie Knight in her $1.16 million sale of 5229 Roswell Road, a 4,435-square-foot office property located just north of Interstate 285 in Sandy Springs. John Mayoue, a nationally known family-law attorney who has appeared frequently on radio and television stations such as CNN and Fox News, purchased the property through his 5229 Roswell Road LLC.

“As closely held businesses gain confidence in the recovery, the owner-occupied or user purchases are increasing,” Michael Bull added. “With rates as low as 5 percent, and 90 percent financing and great locations available, it’s certainly a good time for companies to acquire real estate.”

Jay Letts of Maple Realty represented the buyers in both transactions.

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:  Stephen Ursery, sursery@wnspr.com

UCI's Kerry Vandell to Serve as Keynote Speaker at Inaugural O.C. Commercial Real Estate Spire Awards Mar.1 at the Pacific Club, Orange County, CA

  

 Orange County, Calif., February 14, 2012 – Kerry Vandell (middle left photo), Director of the UCI Center for Real Estate has been announced as the keynote speaker for the first annual “SPIRE Awards” program, recognizing commercial real estate achievements by men and women in Orange County, and presented by the Commercial Real Estate Women, Orange County chapter (CREW-OC).

Open to individuals and teams in development, construction, brokerage, interior design, lending and architecture, CREW’s SPIRE Awards recognize Superior Performance In Real Estate. 

The Inaugural SPIRE Awards will be presented by Parker Kennedy, President of First American Title during a cocktail reception at The Pacific Club on March 1.  Tickets are available for purchase at www.crewocspireawards.com

The judges for the SPIRE Awards include Susan Graham, Partner, Allen Matkins; Jane Lloyd, Managing Director, US Investments, Dexus Property Group; Steven Milner, Managing Partner, Squar Milner; Marina Massari, Senior Vice President, Irvine Company; Lydia Shen, Managing Director, Cornerstone Real Estate Advisors, Inc.; Guy Johnson, President and CEO, Johnson Capital; Patrick Remolacio, President, SIOR Orange County and a top broker at Colliers International; Sal Provenza, Chairman, Building Blocks and Managing Director of CWP Advisors; Lisa Hirose, Chief Administration Officer, Donahue Schriber; David Kim, Managing Partner, The Bascom Group.

CREW-OC will recognize the individual or team selected in the categories of:

Development/Building and/or Renovation Project; Best in Leasing; Best in Sales;

Most Significant Loan; CREW-OC Member; Philanthropist.

“Bringing a major commercial real estate awards contest to Orange County is long overdue,” notes Jennifer Stroffe (top right photo), President of CREW-OC and a Senior Associate at Friedman Stroffe & Gerard, P.C.

 “Commercial real estate is one of this county’s key industries.  Orange County has served as a tremendous source of innovation in the field, and we are a catalyst for commercial real estate trends nationwide.  Our SPIRE Awards will recognize some of the finest in the industry each year.”

Sponsors for the event include Diamond Sponsors Aon Risk Solutions; Bank of America and CBRE. Gold Sponsors are Brower, Miller & Cole; Irvine Company; Orange County Business Journal; Troutman Sanders, LLP; and Willis.  Silver Sponsors are AIR Commercial Real Estate Association; Auction.com Commercial; CoStar; Globest.com; and US Bank.

The Inaugural SPIRE Awards are co-chaired by Dana White (middle right photo), Vice President of Bank of the West, Past-President of CREW-OC and Co-Chair of CREW SPIRE Awards, and Sheldon Ascher of the Orange County Business Journal and Co-Chair of CREW SPIRE Awards.

Tickets purchase prior to February 27 at 5 p.m. are $65 for members and $85 for non-members.  Following that day, tickets will be $80 for members and $100 for non-members.  Tickets can be purchased at www.crewocspireawards.com

Commercial Real Estate Women of Orange County (CREW-OC) is a member organization of the Commercial Real Estate Women Network and has been serving Orange County real estate professionals since 1988.  CREW-OC is a non-profit organization established to promote and sponsor educational and professional activities for its members in the field of commercial real estate.  Further information on the organization is available at http://www.crew-oc.org./

Media Contact:

Judith Brower

Brower, Miller & Cole

(949) 955-7940

jbrower@browermillercole.com

CREC Closes $75.8 Million in Loans

  

ORLANDO, FL – Todd F. Cohen (top right photo) of Cohen Real Estate Capital LLC, a 6-yr old commercial real estate company located in downtown Orlando, arranged a $73,000,000 loan to finance the acquisition of a 550,000 SF grocery-anchored shopping center portfolio located in Puerto Rico.

 The total debt issued at closing was 90% of the purchase price and included both a senior CMBS loan and a smaller mezzanine loan, both of which have very attractive long-term fixed rates. 

The buyer is a private equity company affiliate of Tampa-based Forge Capital Partners, a commercial real estate investment and investment management company, who also recently purchased the 11-acre Mills/Nebraska block in downtown Orlando. 

This loan represents the 5th deal that Cohen has arranged for the Forge Group of Companies since 2003.

 CREC also last month acquired promissory notes from a local Central Florida bank with original face amounts of close to $2,800,000, together with first mortgages and related loan documents secured by a newly renovated 12-unit apartment building and a two commercial buildings having close to 4,000 SF of mixed-use space, including the historic Burton’s Bar (middle left photo).

Simultaneous with closing, CREC entered into a discounted settlement and deed in lieu with the borrower, and the apartments were immediately sold to a local investor.  The properties are within walking distance of Lake Eola in the Thornton Park neighborhood (lower right photo).  

CREC has facilitated the purchase and sale of close to $200 million in debt since 2011 secured by over 600 for-sale condo units, 550 rental apartment units and 715,000 SF of commercial space in Florida and Puerto Rico.

For more information, contact:        

Todd F. Cohen, 407-956-2544

 tcohen@cohenrecap.com

National Retail Properties, Inc. Announces Offering of Series D Cumulative Redeemable Preferred Depositary Shares

ORLANDO, FL, Feb. 14, 2012 /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN) (the "Company") today announced that it has commenced an underwritten public offering of depositary shares, each representing a 1/100th interest in a share of its newly designated Series D Cumulative Redeemable Preferred Stock.

As part of the offering, the Company also expects to grant the underwriters a 30-day option to purchase an additional 15 percent of the depositary shares initially offered.

 The Company intends to apply to list the depositary shares on the New York Stock Exchange under the symbol "NNNPRD". If its application is approved, the Company expects trading of the depositary shares on the New York Stock Exchange to commence within the 30-day period after the initial delivery of the depositary shares.

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

 investorrelations@nnnreit.com

Joseph C. French of Marcus & Millichap Sells $10.1 Million Mixed-Use Asset in Rocky Hill, CT

 ROCKY HILL, CT– Joseph C. French, Jr. (middle right photo) of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of 30 Waterchase Drive (top left photo), a 109,000-square foot, 83-percent occupied office and retail center located in Rocky Hill.

The sales price was $10,137,500 and the cap rate was 8.82 percent. Formerly anchored by an Ames department store, the property is now anchored by Porter and Chester Institute, a leading technical school with nine campuses throughout Connecticut and Massachusetts.

French, a senior director of Marcus & Millichap’s National Retail Group (NRG) in White Plains, represented the seller, a private investor based in Florida. The buyer was a private firm located in Trumbull, Conn.

Constructed in 1988, the 8.8-acre property at 30 Waterchase Drive served as the flagship for Ames department store until it closed in 2002.

 “The seller acquired this property in 2005 with the 56,850-square foot anchor vacancy to fill. He was very creative in leasing up this asset with a non-traditional use,” says French.

 “The center was further challenged by its lack of visibility from the busy Silas Deane Highway/Route 99 commercial corridor, which limited the number of traditional anchor retail tenants interested in the property.

“Ultimately, the seller was successful in marketing and leasing the vacant space because of its strategic location just off Interstate 91, a major New England thoroughfare, to the trade school Porter and Chester Institute.”

In addition to the 56,850 square feet of space occupied by Porter and Chester Institute, Namco, a dealer of swimming pools, patio furniture, and game rooms leases 18,350 square feet in the center and DaVita Dialysis occupies approximately 15,000 square feet. Currently, 18,810 square feet of office space is available.

“This property fits nicely into the local buyer’s portfolio of real estate holdings,” says French. “He expects to capitalize on the upside through lease-up of the vacant office space.”

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

Integrity Home Loan of Central Florida promotes Craig Cimring to Branch Manager of Downtown Orlando facility

ORLANDO, FL –  Integrity Home Loan of Central Florida, Inc., which provides residential mortgage financing through seven branch offices throughout Central Florida, has promoted Craig Cimring (top right photo) to branch manager of the firm’s new Downtown Orlando location on E. Pine Street.

 Matthew Malloy, president, said Cimring joined Integrity Home Loan three years ago as an experienced loan officer. Cimring is a graduate of Florida State University.

 Malloy said Integrity Home Loan plans to open new offices on SR 434 in Longwood and E. Colonial Drive in East Orlando within the next 90 days.

For more information about this press release, contact:

Debra K. Maxwell, Marketing Manager/Client Relations, Integrity Home Loan of Central Florida, 407-688-8268, debra.maxwell@inthomeloan.com;

 Jason Scott, Marketing Manager, Integrity Home Loan, 407-688-6618 jason.scott@inthomeloan.com;

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

Stirling Sotheby’s International Realty Named Exclusive Brokers for $1.95 Million Luxury Golf Course Home at Alaqua Country Club in Longwood, FL

ORLANDO, FL --- Stirling Sotheby’s International Realty has been named exclusive sales and marketing agents for a luxury golf course home at Alaqua Country Club (top left photo), one of Seminole County’s most exclusive, gated and guarded communities on Markham Woods Road in Longwood.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said Jere Matheny (lower right photo), International Luxury Home Specialist with the firm’s Heathrow Real Estate Gallery is listing agent for the luxury home, which is priced at $1.95 million.

The nearly 11,000 square foot luxury home, situated on a landscaped two-acre golf course home site, features five bedrooms and seven baths with a grand portico and foyer, rotunda dome ceiling, marble floors and columns, a private library, home theater, game room and fireplace. 

The property also includes a corner lot with park-like grounds, large circular drive and four-car oversized courtyard garage.

For media 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.  

PHI Group to List Phanet Holding Corp's Vietnam-based Subsidiary HP.ITA in the U.S. Stock Market

LOS ANGELES, CA and HOCHIMINH CITY, Vietnam, Feb. 14, 2012 /PRNewswire/ -- PHI Group, Inc., (OTCQB: PHIE.PK), (Pinksheets: PHIE.PK) a company engaged in energy and natural resources, real estate development, and merger and acquisition consulting services, announced today that its majority-owned subsidiary PHI Asia Holdings, Inc. has signed an agreement to take HP.ITA Joint Stock Company public in the U.S and to arrange funding for its various real estate projects in Vietnam. 

HP.ITA JSC, a Vietnamese company, is a wholly owned subsidiary of Phanet Holding Corp., a Nevada corporation, U.S.A.

According to the agreement, PHI Group will assist Phanet Holding Corp to list its Vietnam-based subsidiary HP.ITA JSC in the U.S stock market by a business combination with a U.S corporation and filing the necessary paperwork with the Securities and Exchange Commission to become a fully reporting publicly traded company. 

PHI Group will also assist HP.ITA to raise additional capital through international institutional and individual investors for its various real estate projects in Vietnam.

To date, HP.ITA has invested VND 1.866 Billion (approximately US$ 89.7 Million) in various real estate development projects in Vietnam, including three residential towers with 17, 38 and 40 stories and a commercial center in Ha Noi, Vietnam. 

Phanet Holding has also successfully arranged $50 million and is ready invest this amount towards the additional $200 million budget required to complete these projects.

As part of the compensation for the services rendered to Phanet, PHI Group and PHI Asia Holdings will retain approximately 5% equity ownership in the combined public company.

Tai Vo (top right photo), Chief Executive Officer of PHI Asia Holdings, commented: "We are delighted to help Phanet's subsidiary HP.ITA create a public platform to access international capital sources not only to complete these current development projects but also position the company for future expansion."

Richard Phan, Chairman and CEO of Phanet Holding Corp., concurred: " We look forward to turning HP.ITA into a U.S. public company to create additional value for our shareholders and make it easier for investors to participate in our growth."

  

Contact

Tai Vo

Tel: +84 8 3844 6181

Email: taiv@phiholdings.com

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

Gemstone Hotels & Resorts to Manage Historic Copley Square Hotel in Boston

  

 BOSTON, MA and PARK CITY, UT, Feb. 14, 2012—Officials of Gemstone Hotels & Resorts, a full-service hotel management company that specializes in luxury and upscale urban hotels and resorts, today announced the company has assumed management of the storied Copley Square Hotel (above centered photo) in Boston. 

Originally built in 1912, the boutique urban hotel recently completed a nearly $20 million renovation that completely restored and updated the iconic property. 

“The Copley has been a fixture on Copley Square for a century,” said Thomas Prins (top right photo), Gemstone principal.

 “The addition of Gemstone’s expertise in operating unique, upscale urban hotels, combined with the physical enhancements, will make a significant difference going forward and allow us to create exceptional experiences for our guests.” 

The 143-room hotel is an historic landmark, but is new throughout.  Recently completed renovations include infrastructure improvements, such as new elevators and HVAC, a total makeover of the guest rooms, food and beverage facilities and all of the public spaces.  Yet, the historic property still retains the iconic boutique hotel’s special character. 

“The Copley is the third property added to our portfolio in the past five months and is emblematic of the type of property we seek to manage or acquire,” said Jeff McIntyre (middle left photo), Gemstone principal.

 “The hotel has a number of natural advantages we intend to more fully leverage, including its convenience to entertainment and sports venues, meeting and convention facilities, retail and other outlets.

“  We also bring a passion for food and beverage opportunities, which we will be infusing into the existing outlets.  Repositioning and re-inventing hotels by adding value and memorable experiences for guests and higher returns for owners is what we have demonstrated that we do best.” 

The luxury hotel offers a number of value-added complimentary amenities and services, including Wine Down Hour, a nightly wine-tasting in the lobby lounge; morning coffee and seasonal afternoon beverage service in the lobby; twice-daily housekeeping service, and “Intuition Specialists” who are trained to anticipate and fulfill individual guest needs. 

The Copley offers three dining/food and beverage options:  XHALE, a unique and fun dining experience featuring local flavors and character; Minibar, an upscale martini bar offering inspired appetizers; and Storyville, a gathering place that traces its roots back to the legendary jazz club opened in the hotel in 1948. 

The hotel has hosted some of the world’s most noted names and personalities:  President William McKinley, Babe Ruth (lower left photo) Ted Williams, Billie Holiday, Ella Fitzgerald and Duke Ellington, to name a few.

 Additional information about the hotel may be found at www.copleysquarehotel.com.

Headquartered in Park City, Utah, with offices in Stamford, Connecticut, Gemstone is a full-service management company that specializes in luxury and upscale hotels and complex resorts.  For more information about Gemstone, go to www.gemstoneresorts.com.

 Contact:   

Chris Daly or Lauralee Dobbins/media

(703) 435-6293

Lauralee@dalygray.com

Chris Daly

President

Daly Gray, Inc.

Ph: 703-435-6293

Cell: 703-864-5553