Newmark Grubb Knight Frank Leases 179,307 SF at BNY Mellon Center in Philadelphia

Philadelphia, PA— Newmark Grubb Knight Frank announced that it has facilitated a lease renewal of 179,307 square feet to Ballard Spahr LLP, a national law firm, at BNY Mellon Center (top left photo) in Philadelphia for a term in excess of 15 years.

Wayne Fisher, executive managing director and Craig Scheuerle, senior managing director, represented the landlord, CommonWealth REIT, and CBRE represented the tenant in this transaction. The property is managed by Reit Management & Research LLC, Real Estate Services.

Built in 1990, BNY Mellon Center is a skyline-defining trophy office building in Center City Philadelphia. Crowned with a distinctive pyramid, the building is one of the most recognizable in the region. Firms such as BNY Mellon, FMC Corporation and Sunoco are headquartered at the property, which has maintained occupancy rates over 90 percent since its construction.

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

Monica Sparreo

312.698.6709

monica.sparreo@grubb-ellis.com

Perkins Garden Apartments in St. Petersburg, FL Sells for $405,000

  ST. PETERSBURG, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Perkins Garden Apartments, a 24-unit apartment community located in St. Petersburg, Florida, according to Richard D. Matricaria, Regional Manager of the firm’s Tampa office. The asset commanded a sales price of $405,000.

Michael P. Regan (top right photo) and Francesco P. Carriera (lower left photo), vice president investments and Nicholas Meoli, investment specialist in the firm’s Tampa office;  Evan P. Kristol, a senior vice president investments in Marcus & Millichap’s Ft. Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a private investor.

Meoli also represented the buyer, a private investor based out of Tampa.

Built in 1957 on a .87-acre parcel of land in the heart of St. Petersburg, Perkins Garden Apartments features three, one and two-story buildings with spacious one and two-bedroom/one bathroom-units.  Water, sewer and trash are included in the rent.

Press Contact:

 Richard D. Matricaria

Regional Manager, Tampa

(813) 387-4700

Winston James Development Negotiates New Lease Agreement at Beville Road Business Center in South Daytona, FL

South Daytona Beach, FL. --- Winston James Development recently negotiated a new long-term lease agreement for 1,050 square feet of industrial space at Beville Road Business Center on Beville Road in South Daytona Beach.

 Winston Schwartz (top right photo), president of Winston James Development, said Mary Maids, a national franchise home and office cleaning service, leased 1,050 square feet at Beville Road Business Center.

 Winston James Development is the developer of the Beville Road Business Center (lower left photo).

 New Daytona area residents John and Emily Miller own the Mary Maids franchise. Schwartz said the couple moved to the Daytona Beach area in order to establish their new business.

For more information, contact:  

Winston Schwartz, President, Winston-James Development, Inc. 933 Beville Rd., South Daytona, Fla. 32119; 386-760-2555;  

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

HFF closes $118.5 million sale of Treat Towers in Walnut Creek, CA

SAN FRANCISCO, CA – HFF announced today that it has closed the sale of Treat Towers (top left photo), twin Class A+ office buildings totaling 378,749 square feet in Walnut Creek, California.

HFF marketed the properties on behalf of the seller, a joint venture between Equity Office Properties and Blackstone.  A national life insurance company purchased the property for $118.5 million.

Completed in 1999, the LEED Gold certified office buildings are 10 stories tall and are attached to a six-level parking structure.  The property is 85 percent leased to tenants such as Paradigm Management Services, HQ Global Workplaces, Environmental Resources Management and Littler Mendelson. 

The buildings are located at 1255 and 1277 Treat Boulevard in the City of Walnut Creek, within one block of the Bay Area Rapid Transit (BART) rail system and with direct frontage along Interstate 680.

The HFF investment sales team representing the seller was led by executive managing director John Pelusi (lower right photo), senior managing directors Michael Leggett and Gerry Rohm, and managing director Steven Golubchik.

“Treat Towers is an irreplaceable asset of the highest quality in the East Bay, providing above standard construction and building amenities in one of the nation’s premier core office markets,” said Golubchik.  "The property offers its tenants a landmark location, providing ease of accessibility to the entire San Francisco Bay Area.”

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

KRISTEN MURPHY

HFF Associate Director, Marketing

(713) 852-3500

krmurphy@hfflp.com

www.blackstone.com.

www.equityoffice.com.

Angelo Stambules Joins Hunter Realty as Senior Vice President Capital Markets to Lead Program of Sourcing Debt and Equity for Hotel Real Estate

  WASHINGTON, D.C. and ATLANTA, GA -- Hunter Realty today announced that it has significantly enhanced its capital markets function with the hiring of hotel finance veteran Angelo Stambules (top right photo) as senior vice president, capital markets.

“We have always prided ourselves on providing our clients with exceptional service,” said Teague Hunter (lower left photo), President.  "So, when our clients requested we expand our scope of services to assist them with sourcing capital, we felt it was incumbent upon us to meet their needs.”

As senior vice president - capital markets, Stambules will oversee the company’s programs for sourcing and placing hotel real estate debt and equity. He will be located in the company’s Washington, D.C. office and will serve Hunter Realty’s clients nationwide. 

Stambules will focus primarily on capital requirements in excess of $5 million.  “Our services will be especially beneficial for hotel companies that don’t have the in-house resources, but want the high-touch relationship that an internal person brings.”

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

Patrick Daly or Jerry Daly (media)

(703) 435-6293

                 

Patrick Daly

Account Supervisor

Daly Gray, Inc.

patrick@dalygray.com

Office:  (703) 435-6293

Cell:  (703) 300-8289

Wyndham Hotel Group Opens 100th Hotel in Latin America

  

PARSIPPANY, N.J. – Wyndham Hotel Group, a member of the Wyndham Worldwide (NYSE: WYN) family and the world’s largest hotel company with over 7,170 hotels around the globe, announced the opening of  the Ramada Encore hotel (top left photo) in Guadalajara, Mexico, its 100th property in Latin America.

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

:

Christine Da Silva

Vice President, Marketing Communications

Wyndham Hotel Group

22 Sylvan Way

Parsippany, NJ 07054

+1 (973) 753-6590

christine.dasilva@wyn.com

Cassidy Turley Brokers Sale of Alpharetta Shopping Center in Georgia

ATLANTA, GA- Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today it brokered the sale of the Stonewood Village shopping center in Alpharetta, GA.

 Mark Joines (top right photo) and Drew Fleming (lower left photo), Vice Presidents at Cassidy Turley in Atlanta, led the team in representing the seller, Inland Mortgage Capital Corp., which foreclosed on the property in 2009. The buyer is Nightingale Properties, headquartered in New York City.

The closing price was $11.6 million. The sale included the center’s 101,615 square feet as well as out  parcels and additional land.

 Stonewood Village, located on Highway 9 in Alpharetta, is 97 percent occupied. The center’s major tenants include Big Lots, Dover Saddlery, Natural Foods Warehouse, Queen of Hearts Antiques and Anytime Fitness.

 “Nightingale Properties was drawn to the property due to Alpharetta’s demographics,” Joines said. “A major positive for the buyer was the access to undeveloped outparcels and excess land.”

 Joines and Fleming represent retail sellers and landlords across the Southeast on behalf of Cassidy Turley

Public Relations Contact

 Tony Wilbert

Wilbert News Strategies

404-965-5022

twilbert@wnspr.com

NAI Realvest Negotiates Industrial Leases totaling over 20,400 SF in Orlando, FL

ORLANDO FL. – NAI Realvest recently negotiated two lease agreements totaling 20,406 square feet at industrial centers on Hanging Moss and Silver Star Roads in Orlando.

                                                                             

Michael Heidrich, principal at the firm, negotiated a new lease representing the landlord

LC Realty Associates LLC for 16,406 square feet at 4116 Silver Star Rd.   Habitat for Humanity of Greater Orlando is the new tenant and was represented by Nick Poole of CNL Commercial Real Estate. 

Tenant Florida Home Medical Equipment renewed its lease of 4,000 square feet in Suite 540-550 at Hanging Moss CommerCenter, 6100 Hanging Moss Rd.   Heidrich brokered the transaction representing the landlord COP-Hanging Moss LLC of Maitland.

For more information, please 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 or Larry Vershel, Larry Vershel Communications, 407-644-4142

Colliers International Completes $5 Million Sale of Office Building in Irvine, CA to be Redeveloped into a Multifamily Project

  

 IRVINE, CA. (Sept. 10, 2012) Colliers International, the third largest global real estate services organization, has completed the $5 million sale a 24,000-square-foot office property located at 2501 Alton Parkway in Irvine, Calif.

Steve Schloemer, senior vice president of Colliers International, represented the seller, SKB Enterprises from Irvine, Calif. The buyer was EQR Residential, an apartment developer from Chicago, who was represented by Larry Schuler from CBRE.

Built in 1980 and situated on 1.9 acres, the buyer plans to demolish the property and develop an apartment project.  EQR previously purchased an adjacent site and is processing entitlements for multifamily development. 2501 Alton is expected to be the second phase of the development.  

Contact:

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

Colliers International Completes $7.8 Million Sale of Industrial Buildings in Irvine, CA

IRVINE, CA -- Colliers International, the third largest global real estate services organization, has completed the $7.8 million sale of two industrial buildings totaling 75,524 square feet located at 17152 and 17192 Daimler (top left photo) in Irvine, Calif.

Steve Schloemer (lower right photo), senior vice president of Colliers International, represented the seller, Qvale Family Trust from Dana Point, Calif. The buyer was FMH Investors, a manufacturing company from Irvine, who was represented by Mike Hartel of Voit.

Built in 1975 and situated on four acres, the property is 100 percent occupied and includes tenants Crenshaw Die and Manufacturing and Advanced Joining Technologies with leases expiring in 2014. The buildings are adjacent to each other and include fenced yards and dock-high loading. 

“The Orange County industrial market continues to improve with eight consecutive quarters of positive net absorption, particularly in the more desirable areas such as Irvine,” said Schloemer.

Contact:

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

EagleBridge Capital Arranges $10,800,000 Mortgage Financing for Dorset Crossing in Simsbury, CT

Boston, MA -- EagleBridge Capital has arranged mortgage financing in the amount of $10,800,000 for Phase I of Dorset Crossing (top left photo) located in Simsbury, Connecticut working exclusively on behalf of the Keystone Companies.

The mortgage financing was arranged by EagleBridge principals Ted M. Sidel (middle right photo) and Brian D. Sheehan (middle left photo) who stated that the loan was provided by a regional financial institution.

Dorset Crossing is an innovative, master - planned mixed use development, strategically located  in Simsbury Connecticut.  Phase I includes two 15,000 square foot medical office buildings which are currently under construction. 

Other buildings in this phase shall include an additional 20,000 square foot medical office building, a 14,000 square foot retail building and a 3500 square foot retail building.  Up to 275 apartment units and 3 additional sites for general commercial use are planned for Phase II.

Saint Francis Hospital and Medical Center (lower right photo) of Hartford has leased 10,000 square feet of space in the first building which shall include physician offices, urgent care services, and a community room.  This will be Saint Francis Care’s seventh access center complex joining facilities in Avon, Bloomfield, East Hartford, Ellington, Enfield, and Glastonbury. 

Saint Francis is 617 bed major teaching hospital and the largest Catholic hospital in New England.

Dorset Crossing is located on Route 10 (Hopmeadow Street) with great visibility and a signaled entrance with dedicated turning lanes on Route 10 offering easy access. 

Located nearby on Route 10 are Stop & Shop, TJ Maxx, and The International Skating Center of Connecticut.  The location offers easy access to Route I-91.  Hartford and Bradley International Airport are within a 20 minute drive.

Mr. Sidel and Mr. Sheehan stated, “We are pleased to have played a part in this outstanding project.  Our lender recognized the quality of the project and the top notch job that Keystone Companies has done in bringing Dorset Crossing to fruition.”

Contact:

Ted Sidel

 (617) 292-7177   EXT. 10

www.eaglebridgecapital.com

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