Emerson International reports new long-term lease agreement for 2,200 square feet of space at 2600 Maitland Center, Maitland, FL

2600 Maiatland Center, Maitland, FL

Zac Starleu

Altamonte Springs, FL--- Emerson International reported it closed on a new long-term lease agreement for 2,200 square feet of Class A office space at 2600 Maitland Center.

Zac Starkey, leasing associate at Emerson International, negotiated the lease agreement representing landlord Emerson International.

Miles Architectural Group is the new tenant.

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

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

NAI Realvest Negotiates $2.6 Million Sale of Restaurant Property with operating Logan’s Roadhouse in Southwest Orlando, FL

Logan's Roadhouse restaurant, 3060 West Sand Lake Road, Southwest Orlando, FL

Mez Birdie

ORLANDO, FL – NAI Realvest recently negotiated a $2,630,303 sale price for the 8,000 square foot restaurant property at 3060 W. Sand Lake Rd. in Southwest Orlando.  

 Mez Birdie CCIM, director of retail and investment services at NAI Realvest and investment associate Chris Butera negotiated the sale representing the seller IA Orlando Sand Lake Outlot, LLC based in Oakbrook, Ill.  

Chris Butera

The restaurant building, which is occupied by an operating Logan’s Roadhouse, was purchased by JB Income Realty Orlando, LP.

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

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

NAI Realvest negotiates $1.2 Million+ sale price for Office Building on East Colonial in Orlando, FL

615--617 East Colonial Drive, Orlando, FL

ORLANDO, FL – NAI Realvest recently negotiated the $1,212,500 sale price for the 20,984 square foot office building located at 615-617 E. Colonial Drive, between Mills and Magnolia Avenues near downtown Orlando.

Mary Frances West

 Mary Frances West, CCIM senior broker-associate at NAI Realvest represented the seller, Osburn Henning Properties, Inc. of Orlando. 

 NEKA, LLC purchased the property and plans to renovate the building for a law practice and other tenants. 

 West said the building is actually three buildings that were combined into one.  The oldest building was built in 1957 and the newest in 1985.

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

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

Aqua Boracay by yoo Wins Recognition at Inaugural Philippines Property Awards

Aqua Boracay by yoo residential resort, Philippines

Marco Biggiogero

PHILIPPINES – Aqua Boracay Group today announced that Aqua Boracay by yoo, the five-star residential resort in the Philippines, garnered “Highly Commended: Best Condo Development (Resort)” recognition by the Philippines Property Awards. 

The prestigious award was given by a respected group of judges representing the development, hospitality and design industries in Philippines and South East Asia.

“We are delighted to receive this prominent recognition from our industry,” says Marco Biggiogero, Chairman and co-founder of the Aqua Boracay Group.  “As Boracay’s first branded resort residence, Aqua Boracay by yoo is helping to define this up-and-coming area, while setting a high standard for exceptional quality and lifestyle.

 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

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US CMBS Delinquency Rate Declines Sharply, Continuing Year-Long Trend

  

NEW YORK, NY - Trepp, LLC, the leading provider of information, analytics and technology to the CMBS, commercial real estate, and banking markets, released its September 2013 US CMBS Delinquency Report today (available at http://www.trepp.com/knowledge/research).

 The delinquency rate for US commercial real estate loans in CMBS fell for the fourth consecutive month to 8.14%. The September delinquency rate marks a 24-basis-point decline since August’s reading, and an improvement of 185 basis points from one year ago. This month’s level is the lowest Trepp delinquency rate in three years, since July 2010.

 There were $1.7 billion in new delinquencies in September; a sharp decline from the $2.5 billion August total. There are currently $44 billion in delinquent US CMBS loans, excluding loans that are past their balloon date but current on their interest payments.

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

Great Ink Communications

Eric Gerard, Lindsay Church

eric@greatink.com

lindsay@greatink.com

212-741-2977

 www.trepp.com

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Annaly Capital Management, Inc. Announces Conversion Rate Adjustment for 4.00% Convertible Senior Notes Due 2015

NEW YORK--(BUSINESS WIRE)-- Annaly Capital Management, Inc. (NYSE:NLY) (“Annaly” or the “Company”) announced an adjustment to the conversion rate for 4.00% Convertible Senior Notes Due 2015 (the "Notes").

The adjustment to the conversion rate for the Notes is being made pursuant to the governing indenture for the Notes in light of the Company's previously announced third quarter 2013 common stock cash dividend of $0.35 per common share.

The new conversion price for the Notes is $12.9246 per common share, effective September 27, 2013.

The conversion price for the Notes was previously $13.3111 per common share. The new conversion rate for each $1,000 principal amount of Notes is 77.3716 of the Company’s common shares.

The conversion rate for each $1,000 principal amount of Notes was previously 75.1250 of the Company’s common shares.

 Notice of the conversion rate adjustment was delivered to security holders and Wells Fargo Bank, National Association, the trustee, in accordance with the terms of the governing indenture for the Notes.

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

Annaly Capital Management, Inc.

Investor Relations, 888-8Annaly

www.annaly.com

Housing Market Remains Strong Even as Prices Moderate, ZipRealty Reports

  

EMERYVILLE, CA– ZipRealty, Inc. (http://www.ziprealty.com) (NASDAQ: ZIPR), the nation’s most prominent online technology-powered real estate brokerage firm and real estate marketing solutions provider, has released its latest Housing Trends Report for the month of August.

Lanny Baker

The key trends that have defined the residential real estate market in 2013 are still very much in place at the end of August, according to ZipRealty’s latest analysis of market conditions in 24 major metropolitan areas.

 Inventory is tighter, houses are selling faster, pending sales volume is stronger, and median sales prices are up strongly when compared to one year ago.

 “Over the past 45 days, we have observed moderating prices in the fastest-growing locales, while sales prices are accelerating now in markets that had been lagging earlier,” says ZipRealty CEO and President Lanny Baker.

 “Taken as a whole, the real estate market may be moving toward a broader, more consistent positive trend line as we head toward the final third of the year.”

Median sales prices in the 24 markets surveyed by ZipRealty were up 15.9% annually to just over $275,000 in August 2013 compared to $238,000 last year.

Sacramento, the San Francisco Bay Area, Los Angeles, Orlando, San Diego, Las Vegas and Phoenix, which have consistently ranked at the top in terms of price growth, remained at the top in August, with median prices anywhere from 23% to 38% higher than last year.

Inventory is running below last year’s levels at 379,000 homes as of Aug. 31, 2013, compared to 450,000 one year ago, a 16% decline.

While the volume of new listings was 9% higher in August 2013 than in August 2012, the pace of new pending sales was 17% higher year-over-year, leading to continued tightness in available supply.

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

Stacey Corso

510.735.2667

scorso@ziprealty.com

Stevens Calls for End to Government Shutdown

The White House, 1600 Pennsylvania Avenue, Washington, DC

           

David H. Stevens

 Washington, D.C. – David H. Stevens, President and CEO of the Mortgage Bankers Association (MBA), issued the following statement in reaction to the government shutdown and its affect on the housing market.

 “The federal government shutdown will have a growing impact on the housing market the longer it continues. If this shutdown is temporary, the ones affected most will be out of work federal employees. However the longer it goes, the greater impact it will have on borrowers, the housing market and the national economy.

“Lenders processing loans that need tax transcripts, social security number verification, or FHA home loans face longer delays and reduced functionality from HUD, IRS, and the Social Security Administration.

  

 Different loan programs have different requirements, and these disruptions impact lenders in different ways, leading to confusion and fear among borrowers about whether they will be able to close on a home purchase or refinance.  There are significant impacts on multifamily lenders, as well.  Rental housing properties awaiting FHA financing cannot move forward.

“The furloughs can disrupt time-sensitive mortgage transaction deals by interfering with borrower lock agreements and causing interest rate disparities from the time of closing to the time the loan is securitized.

“For these reasons there must be a resolution so that borrowers and lenders are able to return to business as usual.”

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

Rob Van Raaphorst

(202) 557-2799                  

Wyndham Hotel Group Introduces Ramada Encore to Turkey; 30 properties planned over 10 years

  

Ramada Encore Izmir, Istanbul, Turkey

ISTANBUL, TURKEY -- Wyndham Hotel Group, the world’s largest hotel company with approximately 7,410 hotels and part of Wyndham Worldwide Corporation (NYSE: WYN), announced the opening of the Ramada Encore Izmir, the first of 30 planned Ramada Encore properties to be developed in Turkey over the next 10 years through an exclusive development agreement with Ever Turizm Insaat Pazarlama Ticaret A.S., a rapidly developing Turkish hotel operator.

Eric A. Danziger

Ramada Encore, a tier of the Ramada® brand, offers modern and ergonomically designed accommodation that features stylish wooden floors in each guest room, innovative bathroom pods featuring walk-in power showers and vibrant social spaces such as The Hub, Ramada Encore’s signature lounge, restaurant and bar concept.

The introduction and planned expansion of Ramada Encore adds to Wyndham Hotel Group’s growing portfolio of hotels in Turkey, which already includes three upscale Wyndham Hotels and Resorts® properties, two select-service TRYP by Wyndham® hotels and 17 Ramada hotels across Istanbul, Ankara, Antalya, Bodrum, Izmit, Kahramanmaras, Malatya and Tekirdag.

“We’re very excited to expand our presence with the first Ramada Encore in Turkey and we look forward to rolling out the concept to new locations throughout the country,” said Eric Danziger, Wyndham Hotel Group’s president and chief executive officer.

 “Catering perfectly to the growing numbers of travellers looking for all the comfort and convenience of an internationally renowned midscale brand, we’re confident the simplicity of Ramada Encore will prove as popular in Turkey as it has elsewhere in Europe and Asia.”

The 168-room Ramada Encore Izmir offers a fitness centre, on-site indoor car parking and meeting rooms accommodating up to 200 delegates. The hotel’s convenient location in the Egepark Shopping Mall is just seven miles from central Izmir and a mere 11 miles from Adnan Menderes Airport.

Selen Ersu

“When we started this project last year, the 22-storey site was an abandoned multipurpose unit,” said Selen Ersü, chief executive officer of Ever Turizm A.S. “Following extensive renovation it now provides quality, comfortable accommodation and serves as a flagship for future development of the Ramada Encore concept in the market.”

Wyndham Hotel Group is based in Parsippany, NJ.

Ever Turizm A.Ş. is a 13-year-old company that aims to deliver quality and customer satisfaction. The company started in the medical sector and has expanded into the tourism sector, having signed agreements with renowned international hotel brands for projects in Turkey, and aims to establish itself as a leading hotel operator.

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

Roz Money

Wyndham Hotel Group

The Triangle, Hammersmith Grove

London W6 0LG, United Kingdom


+44 (0) 20 8762 6600

roz.money@wyn.com

development.EMEA@wyn.com.

www.wyndhamrewards.com.

www.wyndhamworldwide.com

www.ramada.com.

Berger Commercial Realty Brokers Close Two Sales in South Florida For More Than $500,000

Millennium Corporate Park, Coral Springs, FL

Judy Dolan

FORT LAUDERDALE, FL -- Berger Commercial Realty, a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced its brokers recently closed two sales for more than $500,000.

 Judy Dolan and Jonathan Thiel represented BB&T in the $450,000 sale of a 7,332-square-foot flex condo at the Millennium Corporate Park in Coral Springs to SJB Logistics.

Jonathan Thiel

Dolan also represented Burger Pocket Press Co. in the $100,000 purchase of four continuous lots totaling 25,000 square feet in Fort Lauderdale. 

Lauderdale Land & Finance Co., represented by Boca Raton-based Coldwell Banker Commercial, sold the land, which was formerly used as a car dealership.

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

Marielle Sologuren

msologuren@piersongrant.com

(954) 776-1999, ext. 226

www.bergercommercial.com

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DAUM Completes 83,200 Sq. Ft. Lease at Fairmont Commerce Center in Tempe, AZ

  

Fairmont Commerce Center, 440--444 West Fairmont Drive, Tempe, AZ

Steve McKendry

PHOENIX, AZ -- DAUM Commercial Real Estate Services announced that it represented the tenant, MXD Group, in the leasing of the Fairmont Commerce Center, an 83,200 sq. ft. building located at 440-444 W. Fairmont Drive in Tempe, AZ

Steve McKendry, Kirk Jenkins and Trevor McKendry of DAUM’s Phoenix office exclusively represented MXD Group in the transaction.

 MXD Group specializes in final mile delivery logistics solutions for North American retail brands across the consumer electronics, furniture and appliance segments. 

Trevor McKendry

The business coordinates and executes approximately 2.3 million non-conveyable product deliveries annually utilizing a nationwide network of professional managed and certified independent contractors and agents. 

The newly re-branded business is a leader in white glove home delivery and retail replenishment solutions and services.

The Phoenix office of DAUM Commercial Real Estate Services has a broad geographical market area that encompasses all of Metropolitan Phoenix and its outlying areas and suburbs. 

The tenured sales staff consists of specialists in industrial and office properties.  The Phoenix office has successfully leased and sold numerous industrial and office buildings and land totaling millions of square feet.

Kirk Jenkins

DAUM Commercial Real Estate Services is California’s oldest and most experienced commercial real estate brokerage company. Founded in 1904, DAUM has offices throughout Southern California and Arizona.

The company provides a full array of commercial real estate services, including brokerage, corporate services, consulting, leasing, sale and property management.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

Atlantic | Pacific Companies Celebrates the Grand Opening of The Atlantic Doral on Oct. 24

The Atlantic Doral apartments, Doral, FL

DORAL, FL -- On Oct. 24, Atlantic | Pacific Companies officially opens the doors of The Atlantic Doral, a luxury rental community located in Doral, Florida. The newest property of The Atlantic series, The Atlantic Doral will host its grand opening event in its elegant community club house.

                                Atlantic | Pacific Companies will officiate the opening of The Atlantic Doral with a ribbon cutting ceremony.

Electric Piquete band, Miami, FL

Musical guest Electric Piquete will enliven the night while guests indulge on cocktails, hor d’oeuvres, and special entertainment. Guests will have the opportunity to view the property and its apartment homes during a series of intimate, scheduled tours given by the Atlantic | Pacific Management team.

The Atlantic | Doral Grande consists of 360 luxury residential apartment homes containing one, two, and three bedroom models.  

Each unit is designed with exquisite kitchen and baths that include premium finishes such as granite countertops and stainless steel appliances. 

  

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

www.atlanticdoralliving.com.

AtlanticDoral@gmail.com

IPA Arranges Two-Property Multifamily Portfolio Sale in San Antonio, TX

Park at Ventana Apartments is located at 3903 Barrington Drive, 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 a 563-unit two-property portfolio in San Antonio, Texas.

Will Balthrope

 The assets are the 319-unit Park at Ventana and Villa at Ventana, which features 244 units. The terms of the sale were not disclosed.

            IPA executive director Will Balthrope and IPA director Scott Lamontagne advised the seller, a New York-based private lender. The buyer is a privately owned company based in Beverly Hills, Calif.

“The portfolio is located in the northeast San Antonio apartment submarket, which ranks high in strong occupancy, rent growth and absorption,” says Balthrope. “Infill properties such as these are expected to see rent growth due to strong demand and limited supply at this close-in location.”

Scott Lamontagne

“The submarket’s job centers, retailers, schools and highways are excellent amenities for the properties’ tenants and will ensure a continual supply of future residents,” adds Lamontagne. “The assets present a perfect opportunity to add value and the buyer has a significant renovation budget.”

Park at Ventana is located at 3903 Barrington Drive with easy access to Loop 410, Interstate 35, Randolph Air Force Base and Fort Sam Houston. The apartment complex features one-, two- and three-bedroom apartment homes featuring dishwashers, garbage disposals, patios or balconies and walk-in closets.

 Select units offer washer and dryer connections and fireplaces. Shared amenities include covered parking, a private theater with surround sound, a swimming pool, a game room, sand volleyball court, business center, fitness center and picnic tables and grills.

Villas at Ventana Apartments
 San Antonio, TX

Villas at Ventana’s location is 2167 Loop 410 NE. The property provides residents with two 24-hour laundry facilities, covered parking, a swimming pool with cabana, a playground and storage facilities.

 Units feature nine-foot ceilings, built-in shelving, breakfast bars, walk-in closets, dishwashers, frost-free refrigerators, garbage disposals and central air conditioning and heating.

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

Gina Relva

Public Relations Manager

(925) 953-1716

Avalon will be First “Fiberhood” in Georgia; Expected to be catalyst for economic development

Rendering of planned mixed-use Avalon development, Alpharetta, GA

ATLANTA, GA – North American Properties - Atlanta (NAP), developer of Avalon, is partnering with Hotwire Communications to build Georgia’s first “fiberhood” — an ultra-high-speed fiber-to-the-premises (FTTP) broadband network.

Mark Toro

 Avalon is a $600 million, 2.4 million-square-foot resort-inspired mixed-use development in Alpharetta, Ga., a northern suburb of Atlanta.

As the first to bring fiber optic technology with gigabit Internet service to Georgia, NAP is building a custom FTTP network throughout the community. Fiber connection speeds are more than 100 times faster than services currently available in the Atlanta region.

Hotwire, a leading provider of fiber optic telecommunications services, will offer 1 gigabit (Gbps) speeds to every resident, hotel guest, retail shop, restaurant and office worker at Avalon.

Mayor David
Belle Isle

“There couldn’t be a more fitting place to be home to Georgia’s first ‘fiberhood’ than Alpharetta, the Technology City of the South,” said Mark Toro, managing partner of NAP. “Gigabit service is a catalyst for economic development, and it’s crucial for future-proofing development in Metro Atlanta. With bandwidth requirements growing at more than 30 percent per year, this is the way to get ahead...and stay ahead.”

"This is a game-changer for Alpharetta," said Alpharetta Mayor David Belle Isle. "Nowhere else in Georgia can you get gigabit service to your home and nowhere else but Alpharetta can a business take advantage of this cost-effective way to future-proof their operations."

“We are excited about the limitless possibilities our future-proof network can bring to Avalon,” said Kristin Johnson, president of Hotwire Communications. “We will provide our customers with the most advanced technology available today and a level of customer service that will surpass anything anyone has ever experienced in the Atlanta market.” In August, Hotwire was named to the Fiber to the Home top 100 list by Broadband Communities magazine.

Kristin Johnson

Phase one of Avalon, opening in October 2014, will be comprised of 250 luxury rental homes, 101 single-family homes, 400,000 square feet of retail and restaurants and 108,000 square feet of loft office space. Phase two calls for a boutique hotel over retail, a full-service hotel, 100,000 square feet of additional retail and more than 600,000 square feet of additional office space.

Construction is under way at Avalon and NAP will begin welcoming businesses and residents to the “fiberhood” in October 2014.

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

Elizabeth Hagin

The Wilbert Group

404-748-1367 (O) 678-642-4301 (C)

ehagin@thewilbertgroup.com

 http://www.naproperties.com

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Chatham Lodging Expands Western Presence with Denver Acquisition; Announces Unveiling of Residence Inn Washington D.C./Foggy Bottom

  

Hilton Garden Inn Denver Tech Center, Denver, CO

PALM BEACH, FL—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium branded, select-service hotels, today announced that it has acquired the 180-room Hilton Garden Inn Denver Tech Center for a purchase price of $27.9 million, plus customary pro-rated amounts and closing costs.   

Jeffrey H. Fisher

Converted to the Hilton Garden Inn brand in October 2008, the hotel is ideally located in the heart of the Denver Tech Center at the junction of Interstate 25 and Interstate 225. 

The Denver Tech Center spans 850 acres and contains more than 25 million square feet of office space, almost half of which is comprised of Class A and Class B space. The Denver Tech Center also is home to over 1,000 companies employing more than 35,000 people, including such esteemed companies as Oracle, Newmont Mining, EMC Corporation and IBM.

The first Hilton Garden Inn in Chatham’s portfolio, the hotel features 3,600 square feet of meeting space capable of hosting events for up to 300 people.

 “The Hilton brands continue to provide superior returns on investment, and we are pleased to further our relationship with Hilton Worldwide with the acquisition of our first Hilton Garden Inn hotel, sitting in one of the best locations of the Denver Tech Center, a massive thriving corporate business park” said Jeffrey H. Fisher, Chatham’s chief executive officer.”

Residence Inn Washington, DC/Foggy Bottom

The Hilton Garden Inn Denver Tech Center is managed by Island Hospitality Management (IHM), which is 90 percent owned by Mr. Fisher. Chatham funded the purchase with borrowings on its secured revolving credit facility.

Chatham also announced the unveiling of the recently re-branded Residence Inn Washington D.C./Foggy Bottom after an extensive $5.5 million renovation. The 103-suite hotel, formerly a DoubleTree Guest Suites by Hilton, is the only branded, upscale, extended-stay hotel in the prestigious, historic Foggy Bottom neighborhood.

Washington, DC skyline

“This is a great asset in a fantastic location and given the large suites, is ideally flagged as a Residence Inn,” highlighted Mr. Fisher. 

“When we acquired the hotel out of the Innkeepers bankruptcy, we knew it was a great piece of real estate, and we believed we could realize incremental value by either re-positioning the asset or selling the hotel for alternative uses.

“With the Residence Inn brand, we expect this hotel will command a much higher RevPAR premium and drive incremental value and cash flow to our portfolio.”

  

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

  

Jerry Daly                        

Daly Gray Public Relations                                                   

jerry@dalygray.com

(703) 435-6293                                                                          

Dennis Craven

Chief Financial Officer

dcraven@cl-trust.com

 (561) 227-1386  

  

www.chathamlodgingtrust.com

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