Lawson Dann of Morrison Commercial Real Estate Completes Four Building Sales Totaling Over $5 Million

Lawson Dann

ORLANDO, FL -- Morrison Commercial Real Estate announced the completion of four building sales totaling over $5 Million.

 Lawson Dann closed four  building sales totaling in excess of $5.3 Million throughout Orlando in the last two (2) months.  Impressively, several of the properties were listed for less than 60 days. 

The most significant transaction was the sale of the property located at 3050 Technology Place in The Central Florida Research Park.  Westdale Capital Investments sold this 31,486± square foot building to Intelligent Decisions for a total of $3 Million.

3050 Technology Place
Central Florida Research Park
Orlando, FL

Other buildings sold include two buildings at 160-176 Park Center Street in Leesburg for $1.5 Million, the 14,677± sf building at 1790 Lee Road in Winter Park for $515,000, and the 5,500±sf building at 9207 S. Orange Avenue in Orlando for $325,000.

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

Buffy Gillette

Marketing & Production Associate

255 S. Orange Avenue, Suite 1545

Orlando, Florida 32801

407.219.3500 x 290 | 407.440.6650 direct

407.219.3501 fax

bgillette@morrisoncre.com

www.morrisoncre.com

Hilton Worldwide and Bayview Hospitality Group to Convert Downtown Toronto Metropolitan Hotel to DoubleTree by Hilton Brand

Metropolitan Hotel Toronto

TORONTO and MCLEAN, VA – Hilton Worldwide and Bayview Hospitality Group (BHG) announced that the landmark Metropolitan Hotel Toronto, which BHG recently acquired along with the hotel’s two restaurants, will become downtown Toronto’s first DoubleTree by Hilton. BHG will continue to operate the hotel when it converts to a DoubleTree by Hilton later this year.

“Entering the downtown of a gateway city such as Toronto with a well-known destination hotel and proven operators such as BHG is a great way for DoubleTree by Hilton to start the year,” said John Greenleaf global head DoubleTree by Hilton.

John Greenleaf

 “We’ve recently signed franchise agreements for hotel conversions in Kamloops, BC; West Edmonton, AB; and downtown Regina, SK. With all three planned to open this year, we will more than double our portfolio in the country.”

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

 Lauralee Dobbins

Daly Gray Public Relations

+1 703 435 6293

Lauralee@dalygray.com

LYND Residential Properties Acquires Houston, TX Apartment Community

A. David Lynd

San Antonio, TX— Lynd Residential Properties (LRP), LYND's multifamily investment platform, has purchased the Limestone apartment complex in the Briar Forest-Ashwood sub-market of Houston. The purchase price for the off-market transaction was not disclosed.

Limestone is located at 14723 West Oaks Plaza Street in Houston, Texas

 LYND is a national real estate investment, development and management company specializing in the multifamily sector.

“We saw a multifamily property that fit well with our value-add strategy,” said A. David Lynd, LYND’s President and COO. “We will raise the property to Class A standards and expect to generate higher returns as we execute our business plan.”

 LRP purchased 438 units that sit on 26 acres facing West Oaks Plaza Drive near Richmond Avenue.  The location benefits from its excellent access to the Energy Corridor and retail venues on Westheimer Road, and fits well with LRP’s strategy of purchasing well-located properties in close proximiy to employment hubs in markets with strong overall job growth.

 LRP financed the transaction utilizing Fannie Mae, non-recourse financing and also prepaid a CMBS loan that was due to mature in late 2013.

  

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

Todd Templin

Boardroom Communications

954-370-8999 or 954-290-0810

ttemplin@boardroompr.com

 Lynd Contact:

A. David Lynd, President/COO

210-364-3964

alynd@thelyndco.com

www.lyndworld.com.

BBX Capital Completes Sale of 8.5-Acre Parcel in Fort Lauderdale, FL for $7.2 Million

Seth Wise

FORT LAUDERDALE, FL -- BBX Capital (NYSE: BBX), formerly BankAtlantic Bancorp, announced that its subsidiary BBX Capital Asset Management has sold an 8.5-acre land parcel located on the southwest corner of West Cypress Creek Road and Northwest 21st Avenue in Fort Lauderdale.

 The property, a vacant lot adjacent to the former BankAtlantic headquarters, was sold for $7.2 million to Cypress Creek Property Holdings, for approximately $847,000 an acre.

 “Over the last several months, BBX Capital has transitioned from a bank holding company into a diversified investment and asset management company,” commented Seth Wise, President of BBX Capital Asset Management.

“This transaction is a sample of our growing traction and momentum in the marketplace and our focus towards effectively monetizing our legacy real estate portfolio, all leading to the goal of allocating capital towards our core business growth,”

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

Caren Berg

Senior Vice President

Boardroom Communications, Inc

1776 N. Pine Island Road, #320

Plantation, FL  33322

954-370-8999

954-829-7064 Cell

cberg@boardroompr.com

www.BBXCapital.com

Colliers Brings on Portfolio Manager to Real Estate Management Services Team in South Florida

Rick Wall

MIAMI, FL - Rick Wall, a 19-year property management professional with extensive experience throughout the Southeastern region, is now the newest member of the Colliers International South Florida team.

As Portfolio Manager, Rick provides leadership to Colliers South Florida Real Estate Management Services (REMS) and oversees the firm's portfolio of office, medical office, industrial and retail properties.

"We are excited that Rick has joined REMS as Portfolio Manager," says Kevin Rude, Director of Property Management. 

Kevin Rude

"We feel that his vast real estate experience in asset management and senior leadership roles will enable us to make a valuable contribution to our client's goals and objectives as we continue to navigate the current real estate cycle."

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

Crystal Proenza

Vice President of Marketing

Colliers International South Florida

Commercial Real Estate Services

Tel: 305 476 7138

Email: crystal.proenza@colliers.com

www.colliers.com

$14.9 Million Apartment Complex Sale Arranged in Aurora, IL by Marcus & Millichap

  

Stone Crossing Apartments
Aurora, IL

 AURORA, IL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Stone Crossing Apartments, a 258-unit apartment complex in Aurora. The asset commanded a selling price of $14,915,000, or $57,810 per unit.

            Eric Bell, a senior vice president investments, and Edward Liss, an associate, both in Marcus & Millichap’s Chicago O’Hare office, represented the buyer and seller, two Chicago-area investors.        

Edward Liss

“Interest rates are currently very attractive, so we expect the new owner to realize strong cash-on-cash returns from this asset moving forward,” says Bell.

“There is also an opportunity here to add value in the form of rent enhancements to match the Chicago metro’s improving suburban multifamily market; a steady trend that characterized 2012 and, though slowing slightly in 2013, shows no signs of abating.”

Located at 1240 Nantucket Road with frontage on Indian Trail Road, the 214,650-square foot property is comprised of 70 one-bedroom/one-bath units, 170 two-bedroom/one-bath units and 18 three-bedroom/one-and-one-half-bath townhome units.

Eric P. Bell

Amenities include laundry in each building and a grill courtyard in this C-plus asset. Tenants benefit from the enhanced privacy of a single road encircling the property.

In 2008, Stone Crossing Apartments received more than $3 million in capital improvements to the following: windows, hallways, landscaping, electrical and plumbing. The unit interiors received updated kitchens, baths and appliances.

Aurora is Illinois’ second-largest city and receives convenient 40-mile commuter train service to downtown Chicago.

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

Public Relations

(925) 953-1716

Colliers International Makes Aggressive Move To Expand Government Solutions Team by Hiring Former Glendale, AZ city manager Ed Beasley

  

Ed Beasley

 SEATTLE, WA and PHOENIX, AZ /PRNewswire-USNewswire/ -- Colliers International announced the addition of Ed Beasley to the firm's robust Government Solutions team.

Beasley will be Vice President and brings nearly 30 years of public sector experience in economic development and administration, most recently as the former city manager of Glendale, Ariz.

Dwight Hotchkiss

"Ed's experience in the public sector makes him a great addition to our team," says Dwight Hotchkiss, President, Brokerage Services | USA. "He has played an integral role in growing and strengthening the economy in his region, attracting major business investments, and creating thousands of jobs."

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

Monica Howald,

Fleishman-Hillard,

+1-314-982-6233,

monica.howald@fleishman.com

RE/MAX Marks 40 Years of Real Estate History

Gail Liniger

 DENVER, CO /PRNewswire/ -- RE/MAX LLC is marking its 40(th) year by celebrating extraordinary growth and success at a time when the recovery in the nation's housing market is gaining momentum.

 As the real estate industry overcomes market challenges, RE/MAX continues as a leader in market share, agent productivity and international expansion.

Co-founded by Dave and Gail Liniger on January 30, 1973, the company has attained countless achievements throughout four decades.

Dave Liniger

"This company was built on the strength of individual entrepreneurship and innovation. Gail and I recognized in the beginning that we would succeed only if our agents succeeded," said Dave Liniger, RE/MAX Co-Founder and Chairman. 

"So much has changed in 40 years, but what hasn't changed is our commitment to customer service and our dedication to supporting our agents and offices."

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

Shaun White,

Vice President,

Corporate Communications,

RE/MAX LLC,

+1-303-796-3405,

shaunwhite@remax.net

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

Fast-Growing Institutional Property Advisors Adds Leading New York Apartment Broker to National Team

  

Peter Von Der Ahe

NEW YORK, NY—Institutional Property Advisors (IPA), a leading national  institutional apartment advisory and brokerage firm, has added Peter Von Der Ahe and his team of six professionals to its roster of senior advisors, according to IPA national director Brian Murdy.

Von Der Ahe has been a leading broker of major New York metro apartments for 12 years, completing the sale of $360 million in properties over the last three years alone and more than $730 million since the start of his career. 

Recognized as a Commercial Broker All-Star for the past four years by Real Estate New York magazine, Von Der Ahe has ranked consistently among the Top 10 most active brokers in New York City for multifamily properties.

 His client list includes some of the industry’s most prominent institutional and major private investors. Von Der Ahe will be a senior director for IPA and will lead the IPA New York team.

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

Public Relations

(925) 953-1716

Colliers International Completes 22,775 SF Lease With Panavision Federal Systems at Office/ Industrial Building in Chatsworth, CA

Brock Burnett

 CHATSWORTH, CA --  Colliers International, the third largest global real estate services organization, recently represented Panavision Federal Systems on a 3-year lease. The 22,775 square foot office/industrial building is located at 9340 De Soto Street in Chatsworth, Calif.

Brock Burnett, Jeff Gould and Jeff Albee of Colliers International represented the tenant, Panavision Federal Systems, previously based out of Woodland Hills. The landlord, Northeast Valley Industrial Parks, was represented by Scott Caswell of Delphi Business Properties.

Jeff Gould

Panavision Federal Systems enlisted the Colliers team to identify and secure an office/industrial facility in the San Fernando Valley.  

Before approaching Colliers, Panavision had been searching for a space to lease for over 15 months. 

Colliers International quickly understood Panavision’s needs in terms of size, layout, location and security, and efficiently solidified the space.  Panavision Federal Systems will be moving and expanding their business in their new location in Chatsworth this week. 

Jeff Albee

According to Brock Burnett, “This lease represents a success story for Valley office/industrial space. 

"  Panavision has been a mainstay in the Northwest part of the Valley for many years now, and their continued expansion and presence is a very positive sign that tenant retention and vacancy reduction is prevalent in the Valley.  Moreover, there continues to be value opportunities for companies searching for space in this marketplace.”

              Built in 1987 and situated on .52 acres, the 2-story property is a high cube office/warehouse building.  The building is elevator served with turn-key office space and abundant parking.

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

Rainee Tiske

Marketing Specialist | PR GLA | Torrance, CA

Dir +1 310 381 2413

Main +1 310 381 1000

Jeff Gould

(818) 325-4108 or

 jeffrey.gould@colliers.com.

www.colliers.com

www.twitter.com/colliersgla

.

Jones Lang LaSalle Reports Full-Year Adjusted Earnings per Share of $5.48; Revenue of $3.9 billion

Record full-year revenue increased 12 percent; fee revenue grew 10 percent

CHICAGO, IL /PRNewswire/ -- Jones Lang LaSalle Incorporated (NYSE: JLL) today reported adjusted EPS for 2012 of $5.48, up from $4.83 last year.  Record full-year revenue of $3.9 billion was up 12 percent in local currency.  Fee revenue was $3.6 billion, an increase of 10 percent.

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

Lauralee Martin,

Chief Operating and Financial Officer.

+1-312-228-2073

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

Essex Realty Group Brokers Sale Of Mixed-Use Building in Chicago, IL

  

The Mod, 1222 West Madison Street
Chicago, IL

 CHICAGO, IL –  Essex Realty Group, Inc. is pleased to announce the sale of The Mod  (1222 W. Madison St.), a new construction, mixed-use property located in Chicago’s desirable West Loop neighborhood. 

Originally constructed for condominiums, the building consists of 58 residential units, 4,707 square feet of street retail space and 58 parking spaces (56 garage, 2 exterior).

 The Mod is situated within walking distance of Randolph Street’s vibrant restaurant/commercial corridor, Greektown and the United Center. 

Douglas Imber

The property’s convenient location offers easy access to Chicago’s Central Business District, the Kennedy Expressway (I90/94) and Eisenhower Expressway (I-290), and is within walking distance of the Racine Blue Line station and Morgan-Lake Green/Pink Line station.

 Doug Imber, Doug Fisher and Jason Fishleder of Essex were the brokers in the transaction. The price was approximately $20,125,000.

 Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

 Contact:

Douglas S. Imber

Essex Realty Group, Inc.

773.305.4902

dougimber@essexrealtygroup.com

www.essexrealtygroup.com

Lincoln Property Company Southeast Brokers $3.1 Million Sale of Venture Center in Atlanta, GA

1605 Chantilly Drive, Atlanta, GA

ATLANTA, GA– Lincoln Property Company Southeast has brokered the $3.1 million sale of Venture Center, a three-story, 39,185-square-foot office building at 1605 Chantilly Drive in Atlanta.

 Hunter Henritze, Michael Howell and Chip Sipple of Lincoln Property Company Southeast represented the seller, CRM Properties LLC, in the transaction, while Wyatt Realty Company represented the buyer, Wyatt Family Partnership LP.

Hunter Henritze

Located between Atlanta’s Buckhead, Midtown and Emory areas, Venture Center is fully leased.

Children’s Healthcare of Atlanta is the anchor tenant and in the fall of 2012, the firm renewed and expanded its lease to a total of 33,000 square feet through Lincoln’s leasing efforts. The building has signage and direct visibility from I-85 just north of the Lenox Road/Cheshire Bridge intersection and one mile south of North Druid Hills Road. .

Michael Howell

 “Our team at Lincoln did an outstanding job managing, leasing and executing the disposition of Venture Center,” said Tony Bartlett, senior vice president of Lincoln Property Company Southeast.

 “The execution by our team to take a bank-owned asset and quickly increase the occupancy from 63 percent to 100 percent occupancy while identifying a qualified buyer able to execute a year-end close couldn’t have been scripted better.

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

Stephen Ursery

The Wilbert Group

 404-965-5026

sursery@thewilbertgroup.com

Rosemont Realty Acquires Three-Building Concourse Office Complex on I-95 in Jacksonville, FL

Concourse Office Complex, Jacksonville, FL

SANTA FE, NM  /PRNewswire/ -- Rosemont Realty, LLC, a leader in commercial real estate acquisition and management with holdings of approximately 16 million square feet of commercial office space at a value exceeding $1.5 billion, has acquired the three-building Concourse office complex in Jacksonville, Fla.

The acquisition of Concourse has added 288,147 square feet of Class A office space to Rosemont Realty's portfolio. Rosemont Realty purchased the office building from Northwestern Mutual for an undisclosed amount.

In 2012, Rosemont Realty acquired eight Class A or Class B commercial properties, representing more than 2.5 million square feet valued at approximately $250 million. The 2012 acquisitions were in Albuquerque, Birmingham, Denver, Houston, Memphis, Nashville, San Antonio and Tulsa.

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

Jeanne Hasenmiller,

+1-602-714-9338,

JHasenmiller@RosemontRealty.com

Marcus & Millichap Capital Corp. Arranges $25.8 Million Multifamily Portfolio Loan

Danny Abergel

 ENCINO CA – Marcus & Millichap Capital Corporation (MMCC) has arranged a loan for a portfolio of San Fernando Valley multifamily assets valued at $25.8 million.

Danny Abergel, a vice president capital markets in MMCC’s Encino office, arranged the refinancing, which comprises:

·         $11.1 million to refinance a 100-unit multifamily mid-rise property in North Hollywood

·         $9.1 million to refinance a 74-unit multifamily property in Sherman Oaks

·         $5.6 million to refinance two 18-unit multifamily properties in Sherman Oaks, at $2.8 million each

 “While values have risen, interest rates have fallen. With this new loan, we have helped our clients take advantage of these new lower rates, resulting in a dramatic reduction in debt costs,” says Abergel.

            The loan was structured with 30-year terms and will amortize over 30 years at an interest rate of 3.5 percent. The LTV is 75 percent.

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

Marcus & Millichap Capital Corp.

(925) 953-1716