Interstate Hotels & Resorts Expands its Global Luxury Hotel Portfolio with the Addition of The Marker Hotel in Dublin

  

ARLINGTON, VA, May 24, 2012 – Interstate Hotels & Resorts today announced that it has entered into a management agreement for The Marker, Dublin’s newest luxury hotel and apartment complex.

  Located in the heart of the city’s new business and cultural district at Grand Canal Dock, the 187-room hotel is anticipated to open in early 2013.

The Marker Hotel is owned by Brehon Capital Partners, a real estate private equity firm, together with Midwest Holdings, its investment partner.

 It is the 27th managed or signed hotel agreement in Europe for Interstate Hotels & Resorts, and joins other Interstate-managed or signed world-class independent hotels and resorts such as Éilan Hotel Resort & Spa, Texas; J Hotel at Shanghai Tower, China; the Rajasthali Resort & Spa, India; Streamsong, Florida; and The Charles Hotel at Harvard Square, Massachusetts.

“Interstate is well-versed in the nuances of managing high end boutique hotels and destination resorts worldwide. We consider it a tremendous accomplishment and a testament to the results we’ve achieved to receive this vote of confidence with a new owner to manage what will ultimately set the standard of luxury hospitality in Ireland,” said Jim Abrahamson (lower left photo), Interstate’s chief executive officer.

 For more information, visit http://www.interstatehotels.com/.

Connect with Interstate at www.linkedin.com/company/interstate-hotels-&-resorts,

 www.facebook.com/InterstateHotels, and

http://jobs.interstatehotels.com/.

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

Jerry Daly, Chris Daly                                                     

Media                                                                                  

Daly Gray                                                                            

 (703) 435-6293                                                                  

jerry@dalygray.com                                                      

Patrick Daly

Account Supervisor

Daly Gray, Inc.

patrick@dalygray.com

Office:  (703) 435-6293

Cell:  (703) 300-8289

Joseph Green Joins The Preiss Co. as Chief Financial Officer

  RALEIGH, NC – The Preiss Company, the nation’s fifth largest privately held owner and operator of student housing, announced today that Joseph Green (top right photo) has joined the company as chief financial officer.

 In addition to managing all accounting/financial reporting, treasury, risk management and administrative functions, he will be responsible for overseeing all relationships with capital market lenders and equity investors.

 Green brings nearly 35 years of in-depth experience in real estate, finance, and capital markets.  Prior to joining The Preiss Company, he was the chief executive officer of Cherokee Renewables, LLC, a company dedicated to providing capital to the solar photovoltaic industry and an affiliate of Cherokee Investment Partners, LLC, a private investment firm that manages more than $1 billion of Brownfield-related real estate assets. 

Additional information about the company may be found at www.tpco.com. 

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

Amy Barger,

Marketing Director

The Preiss Company

(919) 291-9224

amy.barger@tpco.com

Patrick Daly

Account Supervisor

Daly Gray, Inc.

patrick@dalygray.com

Office:  (703) 435-6293

Cell:  (703) 300-8289

HFF closes sale of The St. Anthony Hotel in San Antonio, TX

DALLAS, TX – HFF announced today that it has closed the sale of The St. Anthony Hotel (top left photo) a 352-room, historic hotel in San Antonio, Texas.

HFF marketed the property on behalf of the seller.  San Antonio-based BC Lynd purchased the property for an undisclosed amount.

The St. Anthony Hotel is located at 300 East Travis Street at the intersection of Navarro Street in downtown San Antonio. 

The 10-story property offers 22 meeting rooms totaling more than 33,000 square feet and amenities include a full-service restaurant, two bar/lounge areas, 24-hour fitness center, business center and outdoor heated pool. 

Built in 1909, the property is set to undergo a significant renovation and will be re-branded as a Starwood Luxury Collection property.

The HFF team representing the seller was led by senior managing director Bill Stadler (middle right photo) and managing director John Bourret (lower left photo).

Contacts:

BILL STADLER                             

 HFF Senior Managing Director      

 (949) 253-8800                                 

bstadler@hfflp.com                          

JOHN BOURRET                          

HFF Managing Director                 

(214) 265-0880                              

jbourret@hfflp.com                        

MYRA MOREN

HFF Director, Marketing

(713) 852-3500

mmoren@hfflp.com

Three-Property Self-Storage Portfolio Trades in Central Florida

TAMPA, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of the Storage Center Inc. Portfolio, a three-property, 1,958-unit, 218,200-square foot self-storage portfolio located in Lakeland, Fla. and Auburndale, Fla. The terms of the sale were not disclosed.

 

Michael A. Mele (middle right photo), a first vice president investments and senior director of Marcus & Millichap’s National Self-Storage Group, represented the seller, a privately held firm located in Lakeland, Fla. The buyer was Extra Space Storage, a public real estate investment trust (REIT) based in Salt Lake City. 

“This is an exciting transaction for self-storage property owners and investors in Central Florida and a positive sign that REITs are once again interested in Florida,” says Mele. “The sale allowed the buyer to secure a substantial footprint in the Lakeland self-storage market with just one purchase.”

The properties’ locations are:

• 1012 U.S. Highway 92 W. Auburndale, Fla. (top left photo)
• 2190 Harden Boulevard, Lakeland, Fla.
• 6445 S. Florida Avenue, Lakeland, Fla.

  Each property is situated on approximately18.8 acres and all are located within 12 miles of each other.

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

NAI Realvest Negotiates New Industrial Lease in Winter Springs, FL for AXEP Inc.

MAITLAND, FL. – NAI Realvest recently negotiated a new industrial lease for 3,150 square feet at 255-A Old Sanford Oviedo Rd. in Winter Springs.

 Michael Heidrich (top right photo), a principal in the firm, brokered the transaction representing the landlord, Winter Springs-based Facts Venture #255, LLC and the tenant, AXEP, Inc., a local general contractor.

For more information, contact:

Michael Heidrich, Principal, NAI Realvest 407-875-9989 mheidrich@realvest.com Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com

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

Keraton at The Plaza Marks the First of Four New Luxury Collection Hotels & Resorts Opening in Asia Pacific in the Next Six Months

 JAKARTA, Indonesia  (May 23, 2012) – The Luxury Collection Hotels & Resorts, part of Starwood Hotels & Resorts Worldwide Inc. (NYSE: HOT), announced the opening of its 80th hotel with the debut of Keraton at The Plaza (top left photo), a Luxury Collection Hotel, the brand’s first hotel in Jakarta.

The hotel opening also marks the first of four new Luxury Collection Hotels & Resorts which will debut in Asia within the next six months, including The Royal Begonia in Sanya, China, Twelve at Hengshan in Shanghai, China and ITC Grand Chola in Chennai, India.

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

Hwee Peng Yeo

Director of Asian Markets

Glodow Nead Communications

Level 21, Centennial Tower

3 Temasek Avenue

Singapore 039190

Glodow Nead Communications • San Francisco • New York • Singapore

O: 65.9768.6087 or 1.415.394.6500 • E hweepeng@glodownead.com • FB: GlodowNead

Evolution Ventures Continues to Expand in the Retail Real Estate Market with their Recently Released iPad Application

 MIAMI, FL – Evolution Ventures (Evolution), a Miami Beach-based software development company, announced that Cole Real Estate (www.colecapital.com) and Urban Retail Properties (www.urbanretail.com) were the latest shopping center landlords to select Retail Sage to be their iPad-based leasing tool for their retail leasing teams.

 Both of the companies will be launching their application at the International Council of Shopping Centers RECon convention in Las Vegas being held this week.  Cole will be leasing upwards of 125 properties with the Sage tool and Urban Retail will be using it for 40 properties nationwide.

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

Jessica Wade Pfeffer

Jessica Wade Inc.

Jessica@jessicawadeinc.com

305.804.8424

John McRitchie Joins McCarthy Building Companies, Inc. as Vice President, Commercial Services in Southern California

NEWPORT BEACH, CA,  MAY 22, 2012 ––McCarthy Building Companies, Inc., one of Southern California’s preeminent builders, recently added John McRitchie (top right photo) to the firm’s commercial services team as vice president, commercial services in the Southern California Division.

Formerly a vice president, project executive for Rudolph & Sletten, Inc., McRitchie brings more than 18 years of experience in the California construction marketplace. His diverse background includes significant projects in higher education, laboratory, R&D, justice, entertainment and mixed-use facilities.

“John’s vast experience in technically complex projects, preconstruction abilities and proven ability to keep all project stakeholders working together and focused on a common goal will be a tremendous asset to our already strong commercial business team,” said Mark Mardock, McCarthy executive vice president for education and commercial services.

Vegas; Dallas; Houston; St. Louis and Atlanta.  McCarthy is 100 percent employee owned.  More information is available at.

  

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

Laura Mickelson (LM Communications)

(949) 453-0851

Susan Garritano (McCarthy Building Companies, Inc.)

(314) 968-3300

www.mccarthy.com

HFF arranges financing for The Roosevelt Collection in Chicago, IL

 CHICAGO, IL – HFF announced today that it has arranged financing for The Roosevelt Collection (top left rendering), a mixed-use development in Chicago, Illinois.

HFF worked on behalf of the borrower, a joint venture between McCaffery Interests, Inc. and Canyon Johnson Urban Funds, to secure the senior loan through Prime Finance. 

The Roosevelt Collection is located at 150 West Roosevelt in Chicago’s South Loop neighborhood.  Completed in 2009, the mixed-use property consists of nearly 400,000 square feet of retail space, 342 multi-housing units and a 1,500 stall parking garage in addition to development rights for three additional residential towers totaling 1,158 units. 

The multi-housing portion of the property is currently 95.6 percent leased.  The retail portion of the property is currently leased to Kerasotes Show Place ICON Theater and is undergoing leasing development.  Active negotiations are underway with several other retailers and restaurant operators to complete retail leasing for the project. 

The HFF team representing the borrower was led by senior managing director Mike Kavanau (middle right photo) and managing director Steve Skok (lower left photo).

McCaffery Interests, Inc. is a Chicago-based firm which targets investment and development opportunities located in urban, in-fill locations.  Since 1991, McCaffery Interests has successfully acquired, developed and/or redeveloped nearly $1 billion of outstanding real estate assets, including numerous mixed-use projects.

Canyon Johnson Urban Funds, a series of joint ventures between Canyon Capital Realty Advisors and Earvin “Magic” Johnson, have been successfully deploying equity and debt capital in densely populated, ethnically diverse communities across America since 2001.   

Contacts:                                                  

MICHAEL KAVANAU                              

HFF Senior Managing Director             

(312) 528-3650                                       

mkavanau@hfflp.com  

STEPHEN SKOK                                

HFF Managing Director               

(312) 528-3650                               

sskok@hfflp.com  

MYRA MOREN

HFF Director, Marketing

(713) 852-3500

mmoren@hfflp.com

CEO Nexus to Host CEO Forum at Rollins College June 12 with Philip Holt, Founder of Video Game Studio Row Sham Bow

 ORLANDO, FL--- CEO Nexus will host its next CEO Forum at Rollins College Tuesday, June 12, featuring keynote speaker Philip Holt (top right photo), founder, president and chief executive officer of online gaming studio Row Sham Bow in Orlando.

Steve Quello (bottom left photo), president of CEO Nexus, said the Forum, which begins at 6 p.m. in the Gallery at Rollins College, is open to area CEOs and corporate principals.

To register for the CEO Forum at Rollins, or to learn more about CEO Nexus, visit http://www.ceonexus.com/.     

 For more information about  this press release, please contact:

 Linda Pope, Events Coordinator, CEO Nexus 407-590-6101, PopeL@ceonexus.mobi;

Tom O’Neal, Ph.D, Executive Director, Florida Economic Gardening Institute/GrowFL 407-882-1120, oneal@ucf.edu

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

Marcus & Millichap Promotes Erin E. Patton to Associate Vice President Investments

 COLUMBUS, OH –Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Erin E. Patton (top right photo) to associate vice president investments.

This achievement is one of the highest levels of recognition the firm awards to its investment specialists. It represents excellence in the development and servicing of long-term client relationships, according to Michael L. Glass (lower left photo), vice president and regional manager of the firm’s Columbus office.

Most recently, Patton held the title of senior associate.

Patton began her career with Marcus & Millichap in November 2004 and was named senior associate in November 2007. She specializes in the sale of retail and net-leased real estate and has received three sales recognition awards from the firm.

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

Marcus & Millichap arranges sale of Storage House in Gulfport, FL for $1.135 Million

ULFPORT, FL, – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Storage House (top left photo), a 23,400-square foot self-storage facility located in Gulfport, Florida, according to Richard Matricaria (middle right photo), regional manager of the firm’s Tampa office.

The asset commanded a sales price of $1,135,000.

Adam Wides (middle left photo), a self-storage specialist and Michael A. Mele (lower right photo), a first vice president investments and senior director of Marcus & Millichap’s National Self-Storage Group, both in the firm’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.

he buyer, a private investor, was secured and represented by Mele and Wides.

Storage House is located at 1219 49th Street South.  The facility sits on 0.98 acres of land and was constructed in 2000.  This asset consists of two single-story buildings with a total of 183 self-storage units, of which 142 are climate-controlled.  Amenities include; perimeter fencing, video surveillance, roll-up doors, gated entry, electronic security and a manager’s office.

“Adam has done a great job of marketing smaller properties to our private clients”, says Mele.   “We are very pleased with the execution of the transaction. The buyer was a first time buyer who received financing through the SBA 504 program. The deal took less than 40 days to complete and it went through seamlessly” adds Wides.

Press Contact: Richard Matricaria, Regional Manager, Tampa, (813) 387-4700

Retail Real Estate Set for Rebound, Predicts Atlanta Law Firm

 LAS VEGAS, NV - Fueled by luxury retailers and discount retailers such as dollar stores, the retail real estate sector is poised to experience increased leasing and improving fundamentals in the second half of 2012.

 That’s the take of Hartman Simons, an Atlanta-based national commercial real estate law firm that represents both tenants and landlords in retail leases as well as developers in retail developments.

 The firm’s attorneys provided their analysis of the sector as the 2012 ICSC RECon convention got underway in Las Vegas. The convention began on May 20 and will run through May 23.

 “The amount of leasing activity we’re involved in is 10 times what it was a year ago,” said Peter Hartman (top right photo), a partner with the firm. “Of course, it’s all relative. It’s not yet close to where it was in 2006 or ’07.”

“Retail real estate is certainly healthier and moving in the right direction,” Hartman said. “There have been fits and starts, but overall the entire sector from our perspective is greatly improved.”

 The return of some large and important retailers such as Target to new developments and the growth of discount retailers like Dollar General are two of the trends fueling the sector’s increased development and leasing activity, according to Hartman. The firm has recently represented developers in the development of Target-anchored centers in the Southeast.

As for store performance, luxury and discount retailers are both thriving, Hartman said. “It’s the mid-level space that seems to be pretty flat,” he added.

 Retail developers have grown “selectively aggressive” in pursuing new opportunities in part because financing has become easier to obtain, according to Hartman. And those new opportunities usually involve residential and sometimes office uses, he said.

 “Everybody’s big on having a multifamily component, or at least being near multifamily,” Hartman said.

 Hartman Simons is representing North American Properties in its development and construction of Avalon (lower left photo), a $600 million, mixed-use project in suburban Atlanta.

  

For more information, go to www.hartmansimons.com or call 770-955-3555.

  Public Relations Contact:

 Tony Wilbert

Wilbert News Strategies

404-965-5022

twilbert@wnspr.com

Stephen Ursery

Wilbert News Strategies

E-mail: sursery@wnspr.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com

CRE Show Urges Borrowers and Lenders to Get Real about Troubled Loans

 ATLANTA, GA (May 22, 2012) – Be prepared and be realistic.

 That’s the essence of the advice offered to borrowers and lenders dealing with troubled loans in the latest episode of “America’s Commercial Real Estate Show.”

In the episode, show host Michael Bull (top right photo) and his guests take a detailed look at loan workout strategies and the various issues surrounding non-performing loans.

“If you’re a lender, get on [the troubled loan] early,” said Bull, the founder and president of Bull Realty. “Bring in professionals. If you’re a borrower, develop a plan.”

 Non-performing loans continue to plague the commercial real estate sector, noted Tom Fink (top left photo), senior vice president for Trepp LLC. Approximately 10 percent of CMBS loans are delinquent, and the total value of such loans is about $60 billion, he said. Furthermore, CMBS loans totaling $120 billion are set to mature over the next two years and roughly half of those are underwater, he added.

Shows guests offered a range of tips for borrowers and lenders saddled with troubled loans.

 A lender should “be a Boy Scout: be prepared,” said Mindy Planer, a partner with the Arnall Golden Gregory law firm. “Know what your best recovery is and know what the borrower is going to want.”

 Lenders should also be careful about launching lawsuits against troubled borrowers to maximize their recoveries and should instead move quickly to take hold of the non-performing asset, said John A. Christy (middle right photo), a managing partner of the Schreeder, Wheeler & Flint law firm.

 “For some reason, [lenders] feel there’s some need to ignore the realities of the financial situation of the borrower … so what they do is defer getting their hands on the real estate and get mired in these counter-claims and endless litigation that puts off the inevitable,” he added.

 “That’s a good point: with some of these borrowers, there’s so many people chasing them anyway, it’s like a worthless cause,” Bull added.

 

Guests said borrowers should take the time to understand the motivations and capabilities of their lenders. “Sometimes banks are under a consent decree or something that actually prevents them from doing certain actions,” said Joe Briner (middle left photo), a partner with GGG Partners, a corporate turnaround firm. “So being aware and building that into the process of negotiating is an important aspect of getting loans worked out successfully.”

Michael Bull will also speak on loan workout strategies at the Information Management Network’s upcoming Southeast Bank/Financial Institutions Forum on Special Assets and Real Estate Workouts on June 28-29 at the Hyatt Regency in Atlanta.

 The next “Commercial Real Estate Show” will be available May 24 and will feature interviews from the International Council of Shopping Centers’ annual RECon trade show and convention in Las Vegas.

 Public Relations Contact:

 Tony Wilbert

Wilbert News Strategies

404-965-5022

twilbert@wnspr.com

Stephen Ursery

Wilbert News Strategies

E-mail: sursery@wnspr.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com

Two Cassidy Turley Buildings Win Regional TOBYs

ATLANTA, GA – [May 22, 2012] Cassidy Turley, a leading commercial real estate services provider in the U.S., said today that two Atlanta office buildings it manages won 2012 TOBY Awards from the Building Owners and Managers Association (BOMA) Southern Region.

 BOMA Southern Region bestowed The Outstanding Building of the Year (TOBY) designation on the Georgia Power Company headquarters tower (top left photo) at 241 Ralph McGill Blvd. The landmark tower competed in the Office Building, 500,000 to 1 Million Square Feet category.

Piedmont West  (middle right photo) at 1800 Howell Mill Road was recognized as the Southern Region Medical Office Building of the Year.

 “We’re honored that BOMA selected two Cassidy Turley-managed buildings for TOBY Awards,” said Holly Hughes (lower left photo), senior managing director of Cassidy Turley Atlanta. “Cassidy Turley is committed to providing excellent property and facility management for our clients.”

 BOMA’s TOBY Awards recognize properties that exemplify superior building quality and management practices. TOBY Awards are the most prestigious and comprehensive programs of their kind in recognizing quality in commercial buildings and rewarding excellence in commercial building management.

 The Georgia Power Building is a 24-story tower with more than 853,000 square feet of office space. Piedmont West is a 10-story medical office building with 264,000 square feet of office and ground-level retail space.

Because Georgia Power headquarters and Piedmont West won regional TOBYs, they now advance to the international TOBY Awards level. International award winners will be announced at the BOMA International Conference in Seattle in late June.

Public Relations Contact:

 Tony Wilbert

Wilbert News Strategies

404-965-5022

twilbert@wnspr.com

Stephen Ursery

Wilbert News Strategies

E-mail: sursery@wnspr.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com