Industry Veteran Allen Kramme Joins Richfield HospitalityAs Senior Vice President Operations

 DENVER, Colo. - - September 10, 2012—Richfield Hospitality, a leading hotel management company, today announced that Allen Kramme (top right photo) has been named senior vice president of operations, responsible for directing the day-to-day operations and financial performance of the company’s 29-hotel portfolio.

“Allen joins our company during an exciting growth period,  as we launch our first international effort in China and aquire as well as secure additional assets and management contracts domestically,” said Greg Mount (lower left photo), Richfield Hospitality president.

“Allen has demonstrated leadership excellence in various hotel-operations capacities including serving as an owners representative, providing regional leadership and managing a multitude of renowned properties. With his 30-years of experience with leading brands and management companies, he will help facilitate our aggressive growth in the coming years.” 

Prior to joining Richfield, Kramme served as a hotel industry consultant and project manager, most recently providing asset management services for St. Regis Deer Valley in Park City, Utah, a Richfield asset-managed hotel.

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

Jerry Daly or Chris Daly

 Daly Gray Public Relations

(703) 435-6293

 jerry@dalygray.com

www.richfield.com. 

HFF arranges $80 million financing for Reservoir Woods West in Waltham, MA

BOSTON, MA – HFF announced today that it has arranged an $80 million financing for three Class A, inter-connected suburban office buildings totaling 458,166 square feet within the Reservoir Woods West Campus  (top left photo) in Waltham, Massachusetts.

HFF worked exclusively on behalf of the borrower, an affiliate of Davis Marcus Partners, to secure the seven-year, fixed-rate loan through MetLife Real Estate Investments. 

The properties are located at 920, 930 and 940 Winter Street, directly off of Route 128/Interstate 95 in Waltham.  Renovated in 2006, the buildings are 100 percent leased to six tenants, including Fresenius Medical Care and PerkinElmer.  In its entirety,

Reservoir Woods consists of an east and west campus that contains more than 1.2 million square feet of office space situated in a 120-acre, park-like setting with amenities including HealthPoint Wellness Center and shuttle service to the MBTA Red Line at Alewife Station in Cambridge.

The HFF team representing the borrower was led by senior managing director Riaz Cassum (lower right photo), director Lauren O’Neil (lower left photo)and senior real estate analyst Robyn King.

Davis Marcus Partners is a venture between Marcus Partners and The Davis Companies.  Its affiliates own and operate a portfolio of real estate in excess of four million square feet and valued at more than $1 billion.

Contact:

KRISTEN MURPHY

HFF Associate Director, Marketing  

(713) 852-3500   

krmurphy@hfflp.com

Institutional Property Advisors Sells The Palomino Multifamily Asset in San Antonio, TX

SAN ANTONIO, TX –Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has arranged the sale of the Palomino (top left photo), a 484-unit multifamily complex in San Antonio. Although terms of the sale were not disclosed, this is the largest Class A multifamily asset to trade in San Antonio in 2012.

            Will Balthrope, an IPA executive director; Scott Lamontagne, an IPA director, and Drew Kile; an IPA associate director, represented the seller, Koontz McCombs Development. Balthrope and Lamontagne also secured the buyer, an investment group represented by Francis Property Management Inc. of Beverly Hills, Calif.

            “This is the largest single-asset multifamily sale in terms of units so far in San Antonio this year,” says Balthrope. “This transaction demonstrates the strength of the San Antonio multifamily investment market.”

“Institutional investors and major owners are targeting well-located, Class A multifamily assets in San Antonio as the region’s job market continues to improve,” adds Balthrope. “We are seeing cap rates for newly constructed, luxury apartment product compress, a trend that should continue through year’s end, even as new development ramps up throughout the region.”

Located at 14111 Vance Jackson Rd., the 324,124-square foot complex is located in one of the strongest growth markets in Northwest San Antonio. In the immediate vicinity, the largest employers in the region include the University of Texas at San Antonio, the South Texas Medical Center, USAA and Valero. USAA and Valero have their world headquarters in Northwest San Antonio.

At the time of the sale, the Palomino was 95-percent occupied.

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

Stacey Corso

Public Relations Manager

(925) 953-1716

Preferred Apartment Communities, Inc. Announces Mezzanine Loan Investment Closing on Former Charlotte Coliseum Site Redevelopment

 

ATLANTA, GA /PRNewswire/ -- Preferred Apartment Communities, Inc. (NYSE MKT: APTS), or the Company,  announced that on September 6, 2012 it closed on a mezzanine loan investment of up to $10.0 million to Oxford City Park Development LLC ("City Park"), a Georgia limited liability company, in connection with City Park's plans to construct a 284-unit multifamily community in Charlotte, North Carolina as part of a master plan to redevelop the former Charlotte Coliseum (top left photo) site.

 In connection with the mezzanine loan, the Company was granted an option to purchase the 284-unit multifamily community between the 39(th) and 43(rd) months following the closing of the mezzanine loan for a pre-negotiated purchase price of approximately $30.9 million.

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

Preferred Apartment Communities, Inc.,

 Leonard A. Silverstein,

+1-770-818-4147,

President and Chief Operating Officer,

lsilverstein@pacapts.com

Loft Building with Rooftop Garden Commands $10.2 Million in Flatiron District of Manhattan

 NEW YORK, NY – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has sold 37 W. 19th St., (top left photo) a seven-story, owner-occupied loft building with ground-floor retail, in the Flatiron district of Manhattan. The sales price is $10,215,000.

Brian Hosey (lower right photo), an associate in the Manhattan office of Marcus & Millichap, represented the seller, a private investor. The seller’s attorneys were Michael Federman and Peter Mannarino of Federman Steifman LLP. Hosey also represented the buyer, Waterbridge Capital. 

“Properties like 37 W. 19th St. – an exceptionally well-located, owner-occupied elevator building in immaculate condition with a beautiful rooftop garden – rarely trade in Manhattan,” says Hosey. “In this case, the seller decided to retire and move out of the city,” he says.

“Because of this asset’s location, condition and the strength of Manhattan’s investment sales market, dozens of qualified buyers – spanning the spectrum of ownership – including private investors, funds and foreign buyers expressed interest in this asset,” he adds.

Located at 37 W. 19th St. between Fifth and Sixth avenues, the loft building contains six full-floor units atop a ground-floor retail center. Currently, the property includes more than 25 feet of frontage on 19th Street and is zoned C6-4A with approximately 7,775 square feet of additional air rights.

Contact:

Stacey Corso

Public Relations Manager

(925) 953-1716

HFF closes sale of and arranges financing for three-building office portfolio in Houston’s Energy Corridor

HOUSTON, TX – HFF announced it has closed the sale of and arranged financing for a three-building office portfolio totaling 566,308 square feet in Houston’s Energy Corridor.

                HFF marketed the property on behalf of Falcon Southwest and CarVal Investors. 

Beacon Investment Properties, LLC purchased the property free and clear of debt.  Fixed-rate financing for the acquisition was arranged by HFF through JP Morgan Chase Bank, N.A.

The portfolio consists of three “best of class” Class B, multi-tenant office buildings located in Houston’s Energy Corridor at the intersection of Interstate 10 and Dairy Ashford Road across from the world headquarters of ConocoPhillips and Shell Oil North American Exploration & Production Group.  Most recently renovated in 2007, the three eight-story office buildings are 93.6 percent leased overall. 

                The HFF investment sales team representing the seller was led by senior managing directors Robert Williamson (middle right photo) and H. Dan Miller (middle left photo). 

HFF’s debt placement team representing Beacon Investment Properties, LLC was led by senior managing director Susan Hill (bottom right photo).

  

                Beacon Investment Properties, LLC is a real estate investment manager and operator concentrating primarily on core-plus and value-add office properties in large MSAs in Texas and the eastern seaboard of the United States.  

Beacon has more than five million square feet under management and has sponsored five close-end investment funds, as well as separate accounts with life insurance companies.  .

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

KRISTEN M. MURPHY

HFF Associate Director, Marketing

(713) 852-3500                                   

krmurphy@hfflp.com

www.beaconri.com

www.carvalinvestors.com.

HFF arranges joint venture equity and refinancing for Austin, TX industrial portfolio

DALLAS, TX – HFF announced  it has arranged a joint venture between Live Oak-Gottesman, LLC and KFG Investment Company for a 204,000-square-foot industrial portfolio in Austin, Texas. 

 In addition, HFF secured refinancing for one of the buildings in the portfolio.

HFF worked exclusively on behalf of Live Oak-Gottesman, LLC and KFG Investment Company to secure the joint venture financing through Principal Real Estate Investors.

The properties are located near the intersection of Interstate 35 and West Howard Lane within Tech Ridge, a 1,000-acre multi-use business park in Austin. 

The portfolio consists of three, Class A industrial buildings that are 94 percent leased to six tenants including NCS Pearson, Inc., Ultra Clean Technology, Dynamic Manufacturing, Anixter, Inc. and Finisar Corporation. 

The HFF equity placement team representing Live Oak-Gottesman Company included senior managing director Randy Baird (middle right photo), managing director Jud Clements (middle left photo) and director Robby Rieke. 

Senior managing director Mona Carlton (lower right photo) represented the borrower in the debt placement portion of the transaction.

For almost 40 years, the principals and professionals who merged to form Live Oak-Gottesman, LLC have represented a leading force in Central Texas commercial real estate.  

Live Oak-Gottesman is the product of a strategic merger of three respected organizations:  Live Oak Group, The Gottesman Company and the leasing and property management divisions of Trammell Crow Company. 

Formed in early 2007, Live Oak-Gottesman, LLC is a vertically integrated, full-service commercial real estate firm with diverse holdings and operations spanning the industrial, office, retail and land development sectors of the Central Texas market.

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

KRISTEN M. MURPHY

HFF Associate Director, Marketing

(713) 852-3500                                    

krmurphy@hfflp.com

HFF closes $121.4 million leasehold sale of Carroll Square in Washington, D.C.

 

 WASHINGTON, D.C. – HFF announced it has closed the leasehold sale of Carroll Square (top left photo), a 178,000-square-foot, Class A office property in the East End submarket of Washington, D.C.

 HFF marketed the property exclusively on behalf of the seller, Seaton Benkowski & Partners.  GLL Partners purchased Carroll Square for $121.4 million and assumed an existing loan on the property.

Carroll Square is a 10-story building comprised of both new construction and seven late 19th century commercial townhomes. 

Its unique features include a small public art gallery, three rooftop terraces and a “pocket park” located between the office building and St. Patrick’s Catholic Church to the north.

The property is encumbered by a ground lease with the Archdiocese of Washington, D.C. through 2102 and is fully leased to tenants including the law firms of Seyfarth Shaw, Holland & Hart, and Fitzpatrick, Cella, Harper & Scinto.  Retail tenants include Le Pain Quotidien, Leica Camera and Coco Sala. 

Located at 975 F Street, NW, Carroll Square is close to Gallery Place, the Verizon Center and the New Convention Center, and is within walking distance of five different Metro lines.

The HFF team representing the seller was led by executive managing director Stephen Conley (middle right photo) and senior managing directors Jim Meisel (lower left photo), Dek Potts and Andrew Weir.  Additional support was provided by real estate analysts Matt Nicholson and Jessica Dickinson.

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

KRISTEN M. MURPHY

HFF Associate Director, Marketing

(713) 852-3500                                   

krmurphy@hfflp.com

55 Allen Plaza Achieves LEED Gold Certification in Atlanta, GA

 ATLANTA, GA (Sept. 5, 2012) – 55 Allen Plaza (top left photo), a Class-A, 350,000-square-foot office tower in downtown Atlanta that is managed and leased by Lincoln Property Co. Southeast, has achieved LEED Gold certification.

 Developed by the U.S. Green Building Council and administered by the Green Building Certification Institute, the Leadership in Energy andEnvironmental Design (LEED) program provides third-party verification that a building operates in a sustainable manner. Certification is awarded on fourlevels, and Gold is the second-highest level behind Platinum.

 LEED certification is based on a number of environmental criteria, and 55 Allen Plaza achieved LEED Gold status because of its indoor air quality, strengthened in part by the use of environmentally cleaning products; its electronics recycling program, which has diverted 250 pounds of electronics from landfills in 2012; its water conservation, which has reduced water consumption by 30 percent; and its overall energy efficiency.

“We are honored and thrilled that 55 Allen Plaza has achieved this environmental honor,” said Tony Bartlett (lower right photo), senior vice president of Lincoln Property Co. Southeast. “This certification is a tribute to the outstanding job that our entire management team has done with 55 Allen Plaza and is a testament to Lincoln’s commitment to taking care of our environment.”

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

Stephen Ursery

Wilbert Public Relations

404-965-5026

sursery@wnspr.com

ASAP International Arranges Purchase of Embassy Suites Hotel in Anaheim, CA

LOS ANGELES, CA, Sept. 5, 2012 /PRNewswire/ -- ASAP Expo Incorporated (OTCQB: ASAE) today announced that it has arranged the purchase of the 222-room Embassy Suites--Anaheim-North (top left photo) for $25.5 million on behalf of Urban Commons, LLC. 

FelCor Lodging Trust Incorporated has sold the property as part of its long-term portfolio repositioning strategy. ASAP International Holdings also arranged CMBS senior debt from Morgan Stanley as part of the purchase.

Taylor Woods, President of Urban Commons, LLC stated, "We are pleased to be able to close on another hospitality acquisition with the support of ASAP International and to continue to build our portfolio of trophy properties."

Frank Yuan (middle right photo), CEO of ASAP International stated, "Urban Commons has been aggressively adding more assets to their portfolio and we are happy to help them with their transactions. We are working diligently to assist in several more real estate purchases in the near future as well."

ASAP is a holding company that operates real estate, investment banking and consulting for Chinese companies. Our mission is to be the bridge between China and the Western world. Our Real Estate division assists with institutional and high net worth individuals with acquisition advisory and asset management.

Urban Commons, a Los Angeles based real estate investment firm, specializes in hospitality and residential income generating assets.  Urban Commons targets income property acquisitions in highly populated, predictable markets.

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

:

Jerome  Yuan

Jerome@ASAPshow.com

www.felcor.com

www.morganstanley.com

www.urban-commons.com

Carter Breaks Ground on $50 Million Mixed-Use Project in Heart of Downtown Columbus, OH

   

ATLANTA, GA (Sept. 5, 2012) – Carter, one of the nation’s largest investment, development and advisory firms, announced today it has commenced construction on the second phase of a mixed-use project at Columbus Commons in downtown Columbus, Ohio.

 Carter, along with local equity partners Bob Weiler and Don Kelley, is moving forward with the $50 million project, which is a redevelopment of the former Columbus City Center mall that was dismantled in October 2009 to create a public park and spark future development. (top left rendering)

Recently named HighPoint at Columbus Commons, the 325,000-square-foot residential and retail development will add 301 residential units atop 23,000 square feet of first-floor retail space to a well-known, high-profile area of the city. 

A number of public and private investments, including Columbus Commons and the Scioto Mile, have helped to transform this area of downtown Columbus and are serving as catalysts for private investments like HighPoint.

 Residents and visitors can expect to see 10-15-foot construction fences going up around the site during the coming weeks, with work beginning on underground utilities and foundations before the end of the month. The project is scheduled to be completed by December of next year.

 “The location of this development on Columbus Commons is a huge amenity,” said Conor McNally (top right photo), chief development officer at Carter.

“We are excited and honored to be a part of such an important project for an incredible city. HighPoint at Columbus Commons is the next step in an exciting mixed-use re-development plan for this site. We are delighted to build on the momentum that the park has created in the short time since it opened last year.”

Located on the west side of the park, along South High Street, HighPoint will comprise two acres on the Columbus Commons site.

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

Wilbert News Strategies

Tony Wilbert

404-965-5022 or 404-405-3656

twilbert@wnspr.com

Hadley Creekmuir

Wilbert News Strategies

O: 404.343.4080

C:  404.556.0010

hcreekmuir@wnspr.com

http://www.carterusa.com

Tandem Construction Begins Phase Two of Union League Boys & Girls Club Renovation in Pilsen, IL

CHICAGO, IL (Sept. 5, 2012) – Chicago-based Tandem Construction announces it has started work on the second stage of a $4.2 million renovation of the Union League Boys & Girls Club at 2157 West 19th Street in Chicago’s Pilsen neighborhood.

This phase of the project entails a full remodel of the original 19th century “Club One” building, and follows Tandem’s completion in July of a four-story, 17,000-square-foot annex adjacent to the existing facility.

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

Sarah Lyons,

slyons@taylorjohnson.com,

(312) 267-4520

Kim Manning,

 kmanning@taylorjohnson.com,

 (312) 267-4527

The Westin Xian, Located in China’s Eternal City, Unveils A Heavenly Gift Package

XIAN, CHINA (Sept. 5, 2012) – The Westin Xian (top left photo), located in the cradle of Chinese civilization and home of the renowned terracotta soldiers, is pleased to announce the A Heavenly Gift Package, offering guests deluxe accommodations and the opportunity to take a piece of Westin’s unparalleled Heavenly Bed home with you.

  A haven of luxury and relaxation, The Westin Xian invites travelers to experience refined Chinese hospitality in a storied location.

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

DoubleTree by Hilton Opens First Hotel in Huntsville, AL

McLean, VA (Sept. 5, 2012) – DoubleTree by Hilton proudly announces the opening of an upscale, full-service, all-suite hotel situated in Huntsville, Alabama, an area known for its genuine Southern hospitality.

 The 149-room DoubleTree Suites by Hilton Hotel Huntsville South (top left photo)is conveniently located near popular attractions, including the U.S. Space and Rocket Center, Robert Trent Jones Golf Trail at Hampton Cove, Huntsville Historic District and Ditto Landing, a natural waterway where adventurers can enjoy canoeing or kayaking.

Formerly a Radisson, the hotel is owned by Enterprise Lodging of Huntsville, LLC, and operated by Yedla Management Company.

Rob Palleschi (lower right photo), global head, DoubleTree by Hilton, said, “DoubleTree by Hilton now invites our loyal travelers to stay with us in Huntsville. 

The newly renovated DoubleTree Suites by Hilton Huntsville South extends our commitment to welcoming the world’s travelers in popular destinations and providing a comfortable, amenity-rich hotel experience for all types of travel.”

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

Maggie Giddens

Director,

Global Brand Public Relations

DoubleTree by Hilton

+1 703 883 5346

Maggie.Giddens@Hilton.com

Chris Daly

President

Daly Gray, Inc.

Ph: 703-435-6293

Cell: 703-864-5553

chris@dalygray.com

 www.doubletree.com

www.hiltonworldwide.com

Gemini Hospitality Management Names Michael Hutchins Vice President of Sales Development

NEW YORK, NY, Sept. 5, 2012—Officials of Gemini Hospitality Management, a leading developer and operator of premium-branded and independent hotels, today announced that Michael Hutchins (top right photo) has joined the company as vice president of sales development. 

In his new role, he will be responsible for sourcing hotel management opportunities for the organization.

“Gemini has launched a new growth strategy that focuses on third party management projects which will take advantage of the significant expertise and internal resources that we have built over the years,” said Will Obeid (lower left photo) Gemini’s president & CEO.

 “With more than 20 years in the hospitality field, Michael’s extensive experience working with the industry’s leading brands, along with his relationships with ownership groups, adds depth to our senior management team.”

Prior to joining Gemini, Hutchins was vice president of sales development for Dellisart LLC, an owner and manager of nationally branded hotels throughout the United States, where he oversaw the acquisition of new management contracts for both new build and existing hotels.

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

Michael Hutchins

480.250.7244.

mhutchins@gemini-hospitality.com

Chris Daly

President

Daly Gray, Inc.

Ph: 703-435-6293

Cell: 703-864-5553

chris@dalygray.com

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