Pyramid Hotel Group Adds Two Hotels to Management Portfolio

BOSTON, Mass., July 17, 2012--Officials of Pyramid Hotel Group, the nation’s second largest independent hotel management company by revenues, today announced that it has been selected to operate the 315-room Westin Imagine (top left photo), Orlando, Fla., and the 194-room Holiday Inn San Antonio NW SeaWorld, San Antonio, TX. 

“These are excellent properties that have the potential to be market leaders in their segments, and our goal is to make pronounced improvements in the properties’ operating results and profitability,” said Warren Fields, Pyramid’s chief investment officer.   “We look forward to the opportunity to continue to build on our long-term relationships with the hotels’ respective associates and ownership groups.”

 Additional information is available at www.pyramidhotelgroup.com

  

DoubleTree by Hilton Opens First Hotel in Hyannis

McLean, VA (July 17, 2012) – DoubleTree by Hilton proudly announces the opening of a newly renovated, upscale full-service hotel situated in the heart of Cape Cod.

The 160-room DoubleTree by Hilton Hotel Cape Cod - Hyannis (lower right photo) is located an hour away from both Boston’s Logan International Airport (BOS) and Providence’s T.F. Green Airport (PVD) and minutes away from Barnstable Municipal Airport (HYA) and the Hyannis Transportation Center. 

The hotel is owned and operated by Ridgewood Hotel Associates, Inc. under a franchise license agreement with a subsidiary of Hilton Worldwide.

For a complete copy of both news releases, please contact:

Jerry Daly or Chris Daly

Daly Gray

 (703) 435-6293

erry@dalygray.com

Prime Coral Gables, FL Retail Space Comes to Market at $463 per SF

CORAL GABLES, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has the exclusive listing for 37,130 feet of prime retail space located in Santona Corner (top left photo), a three-story mixed-use project in Coral Gables.

The listing price for the multi-tenant retail portion of the asset is $17.2 million, or $463 per square foot.

 Douglas Mandel (lower right photo), a vice president investments in Marcus & Millichap’s Fort Lauderdale office and Benjamin Silver, a senior associate in the firm’s Miami office are spearheading the marketing efforts.

The property is ocated at 1430 South Dixie Highway in the South Coral Gables submarket. The 82,801 square-foot trophy office and retail mixed-use building was designed by the award-winning firm of Mateu Architecture in 2008.

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

Stacey Corso

Public Relations Manager

(925) 953-1716

Housing Market Improving At Last, Say Experts on Atlanta’s Commercial Real Estate Show

  

ATLANTA, GA– After a tumultuous few years, the U.S. residential housing market has finally began to show some significant signs of improvement and is poised for a “slow and unsteady” recovery in the months and years ahead.

That was the take of show host Michael Bull (top right photo) and his guests on the most recent episode of “America’s Commercial Real Estate Show,” which provided an enlightening look at the U.S. residential housing market.

Single-housing starts have increased 20 percent compared to this time last year, said Brad Hunter (top left photo) chief economist with MetroStudy, which tracks housing conditions in 84 metropolitan areas across the country.

Furthermore, single-family home absorption has increased 12.4 percent during that same timeframe, he added. “So that’s a good sign,” Hunter said. “It means people are feeling more confident and getting past the problems with financing.”

Hunter did point out one dichotomy plaguing the housing market: although a whopping 1 million developed lots are awaiting purchase by builders, lots in close-in, A and B locations are in high demand by builders, who are often engaging in bidding wars for those sites. However, there is virtually no demand for developed lots in the far-flung suburbs, hence the huge supply.

Robert O’Brien (middle right photo), a partner at Deloitte & Touche who heads the firm’s U.S. real estate services practice, noted the Case-Shiller Housing Price Index rose 0.7 percent in April and also said his firm has observed an improved transaction volume, declining home inventories and shorter sell times.

Still, “it’s going to be slow and unsteady but we expect to see improvement throughout the remainder of 2012 and into 2013,” O’Brien said. “The fact that it’s a modest recovery doesn’t surprise me.”

Despite its noticeably improved performance, the housing market is going to need some help to get truly on track, said Steve Palm (lower left photo), president of Smart Numbers. “For the housing industry to really keep this momentum, the economy has to improve, bottom line,” he said.

Buyer motivation has increased in recent months, and homes in A locations and in the $400,000 to $1 million price range are seeing significant activity, said Todd Thrasher, a managing partner with Brooks Chadwick Capital.

“It feels good to finally feel good about housing,” Thrasher said.

The entire episode on the U.S. residential housing market is available for download on the show’s website. The next episode will be available July 19 and will provide an informative look at CMBS loan restructurings.

Contact

Stephen Ursery

Wilbert News Strategies

404.965.5026

sursery@wnspr.com

Atlantic Station Announces Two New Tenants, Including Georgia’s First Athleta

 ATLANTA, GA)— Atlantic Station soon will welcome a new restaurant concept from well-known Atlanta chef Shaun Doty (top right photo) and also the first Athleta store in Georgia.

Mark Toro, managing partner at North American Properties, made the announcements during the BB&T Atlanta Open at Atlantic Station, the same day Meehan's (local Irish pub) and BGR Burger Bistro held their official openings.

Shaun Doty, who brought YEAH! Burger to Atlanta, is opening a fast-casual, fun chicken concept at the end of this year.

The yet-to-be-named restaurant will feature wood-grilled chicken, delicious sides including fresh vegetables and mac 'n cheese and a great children’s menu. Doty, also the chef behind YEAH! Burger, is known for his passion for organic, seasonal cuisine.

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

Elizabeth Hagin

Wilbert News Strategies

404-965-5023 (O

) 678-642-4301 (C)

ehagin@wnspr.com

www.atlanticstation.com

HFF secures $11.76 million financing for Legacy Drive Village in suburb of Dallas, TX

DALLAS, TX – HFF announced  it has secured an $11.76 million financing for Legacy Drive Village (top left photo), a 138,154-square-foot grocery-anchored retail center in Plano, Texas.

HFF worked exclusively on behalf of a Cencor Realty Services joint venture to secure the 10-year, fixed-rate loan through Prudential Mortgage Capital Company.

Legacy Drive Village is located at 7000 Independence Parkway approximately 3.4 miles to the west of North Central Expressway and approximately 4.4 miles to the east of the Dallas North Tollway in Plano.

Built in 1994, the retail center serves a residential population of more than 300,000 within a five-mile radius.  Currently 92 percent leased, the property is anchored by a recently renovated Kroger Signature supermarket.   Other tenants include Domino’s Pizza, Dunkin Donuts, Einstein Brother’s Bagels, Palm Beach Tan and Subway.

The HFF team representing Cencor Realty Services was led by managing director Travis Anderson.

Cencor Realty Services was founded in 1989 as a full-service commercial real estate company specializing in property management, asset management and development services. 

The company has grown from managing five million square feet of space in 1989 to managing a portfolio of more than 21.5 million square feet today.  Cencor is one of the largest retail property management companies in Texas, with space under management throughout Texas’ major market areas in Dallas, Fort Worth, Austin, Houston and San Antonio.

Contacts: 

TRAVIS ANDERSON                                      

 HFF Managing Director                                    

(214) 265-0880                                                   

tanderson@hfflp.com                                          

                

 MYRA F. MOREN

HFF Director, Marketing

(713) 852-3500

mmoren@hfflp.com

HFF closes sale of the DoubleTree Denver – Aurora Hotel in Aurora, CO

  

DALLAS, TX – HFF announced it has closed the sale of the DoubleTree Denver – Aurora (top left photo), a 248-room full-service hotel in Aurora, Colorado. 

HFF marketed the property on behalf of the seller, GTIS Partners.  New York-based Garrison Investment Group acquired the property for an undisclosed amount. 

The DoubleTree Denver - Aurora is located at the intersection of East Iliff Place and Interstate 225 proximate to the 6.5 million-square-foot Anschutz Medical Center.

Built in 1983, the six-story hotel offers 10 meeting rooms totaling more than 12,700 square feet.  Additional amenities include a full-service restaurant and bar, cafe, fitness center, business center and indoor pool.

  The property will undergo a moderate renovation and continue its affiliation with the DoubleTree by Hilton brand.  Aimbridge Hospitality, who operated the hotel on behalf of GTIS Partners, will continue to manage the 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            

(214) 265-0880                                       

bstadler@hfflp.com   

JOHN BOURRET                        

HFF Managing Director              

(214) 265-0880                               

jbourret@hfflp.com                       

MYRA F. MOREN

HFF Director, Marketing

(713) 852-3500

mmoren@hfflp.com

HFF secures $5.5 million acquisition financing for Sunset Station in suburb of Seattle

PORTLAND, OR – HFF announced it has secured a $5.5 million acquisition financing for Sunset Station (top left photo), a 55-unit, mid-rise multi-housing community in SeaTac, Washington.

HFF worked on behalf of Cumberland Holdings, LLC to secure the five-year fixed-rate loan through a national bank on a non-recourse basis.

 

Sunset Station is located near the intersection of South 176th Street and Highway 99 approximately one and one half miles east of Seattle-Tacoma International Airport.  The 98 percent occupied property is comprised of studio, one-, two- and three-bedroom units.  Built in 2007, community amenities include an internet café, playground, fitness center and underground parking.  The property will be renamed Avion Apartments.

The HFF team representing the borrower was led by managing director Tom Wilson (middle right photo) and senior managing director Paul Brindley (lower left photo).

Cumberland Holdings, LLC is a real estate investment and asset management company.  The firm focuses on strong real estate markets with solid tenant demand drivers and significant barriers to new development. 

Cumberland Holdings offers investors and clients an experienced investment, accounting and legal platform for income producing real estate, which allows the firm to provide institutional quality investment management services.  The company has offices in San Francisco and Rolling Hills, California.

Contacts:    

                

TOM WILSON                                      

HFF Managing Director                         

(503) 224-0444                                       

twilson@hfflp.com

                           

PAUL BRINDLEY                                

HFF Senior Managing Director             

(310) 407-2100                                       

pbrindley@hfflp.com                            

MYRA F. MOREN

HFF Director, Marketing

(713) 852-3500

mmoren@hfflp.com

Three Cassidy Turley Properties Included on Tampa Bay Business Journal’s Top 25 List

TAMPA, FL – [July 16, 2012] The Tampa Bay Business Journal has ranked three of Cassidy Turley’s properties for lease on its Top 25 Office Buildings list.

 Corporate Center One (top left photo) at International Plaza ranked No. 8 on the list, while Corporate Center Two and Three ranked No. 13 and No. 12, respectively.The list ranks Tampa Bay office buildings based on total rentable square footage.

Corporate Center One is a 390,698-square-foot Class-A office space with Bloomin’ Brands and Numera Software among its major tenants. Corporate Center Two and Three are Toby award winning, Energy Star rated office buildings, both with 286,111 square feet.

 “Cassidy Turley is very excited to be representing the highly desirable Corporate Center at International Plaza properties,” said Ron S. Ruffner, vice president of the firm’s Tampa office. “They not only rank high in rentable square footage, but offer great amenities and attractive locations.”

 Media contact:

Tony Wilbert

Wilbert News Strategies

404-965-5022

twilbert@wnspr.com

NAI Realvest Negotiates Two New Office Lease Agreements at The Citadel in East Orlando

ORLANDO, FL. – NAI Realvest recently completed two new lease agreements totaling 4,005 square feet of office space at The Citadel III, 5950 Hazeltine National Drive in southeast Orlando.

 The NAI Realvest leasing team of Senior Associate Mary Frances West (top right photo) CCIM, Matt Cichocki (lower left photo) and Kevin O’Connor principals at NAI Realvest, negotiated both transaction representing the landlord, Citadel Partners, LTD based in The Villages, Fla.  

The local tenants are Hope for Haiti Children’s Center, Inc. d/b/a Danita’s Children, who leased suite 510 with 1,010 square feet and Cargo Aircraft Management, Inc. who signed a lease for suite 350 with 2,995 square feet.  Joe Hills of Coughlin Commercial represented Cargo Aircraft.

 NAI Realvest is the leasing and management representative of The Citadel and West leads the leasing team.

For more information, contact:

Mary Frances West, CCIM, Senior Broker-Associate NAI Realvest,

407-875-9989 mwest@realvest.com;

Kevin O’Connor or Matt Cichocki, Principals NAI Realvest, 407-875-9989, koconnor@realvest.com or mcichocki@realvest.com

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

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

ARA Announces Sale of a 3,187-Unit, Multi-State, UDR Portfolio in 3 Markets

 Jacksonville, FL (July 16, 2012) — The Jacksonville, FL, Washington, D.C. and Dallas, TX offices of Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multi-housing industry, announces the sale of the UDR Multi-State Portfolio.

This is part of a previously announced disposition by UDR. The nine-property, 3,187-unit portfolio is spread across three separate ARA markets including Jacksonville, FL, Dallas, TX and Richmond, VA.š UDR and ARA worked together to identify key buyers across the U.S. who demonstrated the desire, capability and market knowledge to acquire these assets.

 ARA Florida-based Principals, Marc deBaptiste (top right photo) and Kevin Judd (middle left photo) along with Vice President, Matt Wilcox, ARA Dallas, TX-based Principals Brian O’Boyle and Brian Murphy together with ARA Washington DC-based Principals Drew White, Mike Marshall and Ryan Ogden represented Denver, CO-based UDR, Inc., in the transaction. UDR is a leading multifamily REIT which manages, buys, sells, develops and re-develops assets across the U.S.

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

Lisa Robinson at lrobinson@ARAusa.com, 678.553.9360

Amy Morris at amorris@ARAusa.com, 678.553.9366; locally,

Marti Zenor, at mzenor@ARAusa.com, 561.988.8800.

Charles Dunn Co. Completes Record-Breaking $7.51 Million Sale of Single-Tenant Retail Property Occupied by Chase Bank in West Los Angeles, CA

  

LOS ANGELES, CA, July 16, 2012 –Charles DeSantis (top right photo) of the Charles Dunn Company, one of the largest full-service regional real estate firms in the Western United States, has completed the record-breaking sale of a 5,000 square foot single-tenant leased investment occupied by Chase Bank for $7.51 million.  The property is located at 11975 Santa Monica Blvd. in West Los Angeles.

The price per square foot of the building was $1,500, which sets a record as the highest price per square foot ever paid for a bank occupied single tenant retail property in the Los Angeles/West Los Angeles region according to CoStar records.

DeSantis, senior managing director with Charles Dunn Company, represented the sellers, HJRJ LLC, et al from Los Angeles.

The buyer was Golden Matrix LLC from Los Angeles. The property sold at a cap rate of 4.8 percent on existing income, 5.37 percent based on income commencing in December 2012 for five years.

According to DeSantis, the sale was completed in just three weeks.

Charles DeSantis can be reached at (310) 996-2232.

Contact:

Darcie Giacchetto

D.G. Communications, Inc.

949.278.6224

Berger Commercial Realty Corp. Announces New Sale in St. Petersburg, FL

 FORT LAUDERDALE, FL. (July 16, 2012) – Commercial real estate broker Judy Dolan (top right photo) of Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, closed the sale of a lender-owned, mixed-use building located in St. Petersburg, Fla.

 Located at 6100 Haines Road, the property sold for $150,000 to John and Patricia Farese. Dolan represented the seller Waterfall Victoria Mortgage Trust 2010-SBC 1 REO, LLC.

Contact:

Marielle Sologuren

Pierson Grant Public Relations

(954) 776-1999, ext. 226

msologuren@piersongrant.com

Hendricks & Partners Negotiates $15.9 Million Sale of Lexington Park Apartments in Orlando

ORLANDO, FL --- Hendricks & Partners, one of the nation’s largest and most active multi-family investment banking and research companies, recently negotiated the sale of the Lexington Park Apartments (top left photo)on Westgate Drive in Orlando for $15.9 million.

Cole Whitaker, partner and director of the Southeast Division of Hendricks & Partners, negotiated the sale of the 252-unit apartment property with associate partner Hal Warren in Orlando and senior investment advisor Jason Stanton in the firm’s Tampa office.

Hendricks & Partners represented the institutional seller.  The buyer was not disclosed.

Built in 1988, the three-story garden style apartments total 210,812 square feet of rentable living space with one and two bedroom units and an average monthly rent of $716.

For more information, contact:

Cole Whitaker, Southeast Partner, Hendricks & Partners, 407-218-8880, cwhitaker@HPAPTS.com; 

Hal Warren, Associate Partner, Hendricks & Partners 407-218-8881 hwarren@HPAPTS.com; 

Jason T. Stanton CCIM, Senior Investment Advisor, Hendricks & Partners, Direct: 727-674-4097; jstanton@hpapts.com

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

Commercial Real Estate Leader Colliers International Expands Southeast Presence

BIRMINGHAM, AL and SEATTLE, WAJuly 16, 2012 /PRNewswire/ -- Colliers International today announced the addition of a Birmingham, Ala., office to its global operations. 

As part of the firm's ongoing commitment to enhancing client services, Colliers continues to expand upon its already significant presence in the southeast.  The Birmingham office is among 15 others that the firm has established since 2010.

"There is a significant growth opportunity for Colliers not only in Alabama, but also in the southeast region," said Dan Spiegel (top right photo), executive vice president of operations for Colliers International in the U.S.

"We are very excited to welcome our new colleagues to the Colliers family in Birmingham, a leading market in the state, and for the future of the firm's southeastern operations as we continue to grow. This addition will surely strengthen our footprint in the area."

Sandner Commercial Real Estate, a Birmingham-based firm that specializes in office and industrial real estate, and its staff of commercial real estate brokerage experts and property management professionals, will lead the charge by joining Colliers International's 12,300 professionals operating out of more than 522 offices in 62 countries.

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

 Monica Howald,

Fleishman-Hillard,

+1-314-982-6233,

monica.howald@fleishman.com

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

National Retail Properties, Inc. Increases Common Dividend

ORLANDO, FL, July 16, 2012 /PRNewswire/ -- The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a quarterly dividend of 39.5 cents per share payable August 15, 2012 to common shareholders of record on July 31, 2012.

The dividend represents an annualized rate of $1.58 per share and marks the twenty-third consecutive year National Retail Properties has paid increased annual dividends per share.

National Retail Properties is one of only four publicly traded REITs and 104 publicly traded companies in America to have increased annual dividends for 23 or more consecutive years.

"We are proud to reach our twenty-third consecutive year of increased annual dividend payments," said Craig Macnab (top right photo), Chairman and CEO. "A consistent and increasing dividend is extremely important to our shareholders and is a track record we intend to perpetuate."

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of March 31, 2012, the company owned 1,486 Investment Properties in 47 states with a gross leasable area of approximately 17.0 million square feet.

 For more information on the company, visit www.nnnreit.com.