The Residences at Mandarin Oriental, Atlanta, Hires Buckhead High-Rise Expert Karen Rodriguez to Lead New Sales Team

The Residences at Mandarin Oriental, Atlanta, GA

Karen Rodriguez

ATLANTA (Dec. 9, 2013) – iStar Residential, a division of iStar Financial Inc. (NYSE: SFI), announced today it has hired an all-new sales team, led by the top-selling high-rise agent in Atlanta, for The Residences at Mandarin Oriental, Atlanta.

Karen Rodriguez of Dorsey Alston Realtors will lead the revamped sales efforts. She brings 11 years of experience in the Buckhead luxury high-rise market to the exclusive, world-class property.

 The addition of Rodriguez is part of an extensive rebranding process that began in May 2012 with the reintroduction of the exclusive, five-star luxury Mandarin Oriental, Atlanta.

The debt-free property, wholly owned by real estate company iStar Financial Inc., has been reshaped into one of the top-ranked hotels in the city. Now, iStar Financial Inc. has shifted focus to the 25-unit residential units on the top floors of the property.

 Before joining The Residences at Mandarin Oriental, Atlanta, Rodriguez led the sales and marketing strategy for the nearby $100 million Ritz-Carlton Residences high-rise project, selling out the property in a mere two-and-a-half years.

The leading luxury high-rise condominium expert in Buckhead, Rodriguez has also represented many of Atlanta’s top developers, including Post Properties and the Novare Group.

John Kubicko

 “Karen brings an intimate and unparalleled knowledge of the Buckhead high-rise market to this luxury property,” said John Kubicko, Senior Vice President at iStar Financial Inc. “We are very pleased to have someone with such extensive experience lead our sales efforts.”

 The Residences currently are being built-out with contemporary, ultra high-end finishes and sleek, built-in fireplaces with marble surrounds. Each unit will also feature a 36-inch Viking gas grill as well as a fireplace on its balcony.

The team is also revamping the common areas with modern color palettes and sleek marble floors. iStar has partnered with premier local architectural firm Harrison Design to craft unique layouts that showcase the spectacular views. Additionally, plans are underway to build out all the remaining unfinished shells.

 Harrison Design Associates also designed a lavish three-bedroom model home that was staged on the 45th floor to demonstrate The Residences’ new contemporary appearance. Decorated by Decatur, Ga.,-based firm GraysonHarris, the model was unveiled in September and was featured in the November edition of Atlanta Homes & Lifestyles.

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

Josh Guterman,

jguterman@thewilbertgroup.com

http://moresidencesatlanta.com.

http://www.mandarinoriental.com/destination-mo/

www.mandarinoriental.com.

www.istarfinancial.com.

www.istarresidential.com.

INNOVATIVE Real Estate Companies Adds Another Key Hire; Melissa Montgomery Joins as Controller

  

Melissa Montgomery

Houston, TX (Dec.  9, 2013) – INNOVATIVE Real Estate Companies has hired Melissa Montgomery as Controller.

Montgomery brings over 10 years of real estate accounting and financial reporting experience. She is responsible for all reporting and accounting functions for INNOVATIVE Real Estate Companies – including INNOVATIVE Student Housing, INNOVATIVE Apartment Living and INNOVATIVE Real Estate Development.

“Adding Melissa to the team reflects our commitment to building a great company – which starts with continuing to build the right team,” said David Neef, Chief Operating Officer of INNOVATIVE Real Estate Companies.

“We've always taken the approach of recruiting and hiring the best and the brightest, as evidenced by the strength of our existing team. Melissa is no exception. She has a work philosophy that reflects our company culture and extensive industry experience.”

Montgomery most recently served as Financial Reporting Manager for The Lionstone Group, a commercial real estate investment company headquartered in Houston. 

David Neef

Previously, she served as Financial Controller and Director of Financial Reporting for the U.S. region of Campus Living Villages. There she supervised accounting and reporting functions for approximately 20,000 beds across the United States.

Montgomery holds a BBA in Accounting from Texas Tech University and a JD from the University of Houston. She is also a Certified Public Accountant.

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

Terri Thornton

Terri@TerriThornton.com,

 (404) 932-4347

www.INNOVATIVErec.com.

HFF closes sale of 336,000-square-foot bulk distribution warehouse in Reno, NV

9085 Moya Boulevard Bulk Distribution Warehouse, Reno, NV

Steven Golubchik

SAN FRANCISCO, CA – HFF announced today that it has closed the sale of 9085 Moya Boulevard, a 336,000-square-foot, Class A bulk distribution warehouse in Reno, Nevada.

HFF co-brokered the sale with NAI Alliance on behalf of the seller, Panattoni Development Company.  KTR Capital Partners, LLC purchased the asset for an undisclosed amount free and clear of debt.

The property is situated on 17.46 acres within the Red Rock Business Center along US Highway 395 just north of the Interstate 80 interchange. 

Completed in 2001 and 90 percent leased, 9085 Moya Boulevard is a crossdock building, which features 30-foot ceiling heights, 130-foot truck courts and 42 loading docks with the capability to add 34 additional doors.

John Simerlein

The HFF team representing the seller was led by managing director Steven Golubchik and director John Simerlein.  NAI Alliance was represented by Mike Nevis.

Panattoni Development Company (www.panattoni.com) is a privately-held, full-service development company founded in 1986.

 The firm has completed in excess of 175 million square feet of commercial projects globally. 

Panattoni has developed industrial, office and flex facilities in 278 cities located in 29 states and nine countries.  The firm is headquartered in California and maintains offices throughout the United States, Canada and Europe.

KTR Capital Partners is a real estate investment, development and operating company focused exclusively on the industrial property sector. 

Mike Nevis

Headquartered in New York City with offices in Philadelphia, Chicago, Dallas, Las Vegas, Los Angeles and Miami, KTR has a 75-person platform that manages a series of discretionary value-add investment funds that target opportunities throughout major markets in North America. 

KTR’s funds currently own a portfolio of approximately 53 million square feet across North America and provide nearly $7 billion of investment capacity.  For additional information, please visit www.ktrcapital.com.

NAI Alliance is the premier commercial real estate firm in Northern Nevada, specializing in the sale, leasing and management of office complexes, retail shopping centers and industrial warehouse buildings in conjunction with land, multifamily and investment properties. 

  As a member of NAI Global, NAI Alliance is a part of 350 offices, with 5,000 professionals in 55 countries with $45 billion in transaction volume and more than 300+ million square feet managed worldwide.  For additional information, please visit www.naialliance.com.

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

Flagler Street Foot Locker Building in Downtown Miami, FL Hits the Market at $5 Million; A Marcus & Millichap Listing

  

Flagler Street Foot Locker Building, 38 East Flagler Street, Miami, FL

  

Ryan Shaw

MIAMI, FL, Dec. 9, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has received the exclusive listing for a 32,838-square foot, mixed-use building with ground floor retail in downtown Miami, FL.

The impressive redevelopment opportunity is priced at $5 million.

            Ryan Shaw, a Senior Associate in Marcus & Millichap’s Miami office, is representing the seller, a limited liability company from Massachusetts.

“This is an excellent redevelopment opportunity in downtown Miami’s central business district,” says Shaw.

“Neighboring properties include Macy's department store, Miami-Dade County Courthouse and the Seybold Building Diamond Center.

Macy's Department Store, 22 East Flagler Street
Downtown Miami, FL
Formerly Burdines Department Store Building

“Miami's Downtown People Mover station is one block away and two blocks west are three new condominium projects that are mostly occupied.  The property allows for high-rise redevelopment of approximately 385 units and a maximum height of 80 floors,”

The two-story, mixed-use building is currently 100 percent occupied by Foot Locker.  The Flagler Street Foot Locker building is located at 38 East Flagler Street in Miami.

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

Kirk Felici

Vice President/Regional Manager

Miami, FL

(954) 245-3400

Avalon “Firing on All Cylinders”, Retail 90 Percent Committed; One-year Grand Opening Countdown Under Way

Rendering of Avalon under construction in Alpharetta, GA

Mark Toro

 NEW YORK, NY (Dec. 9, 2013) – North American Properties – Atlanta (NAP) today announced from the ICSC New York National Conference that the 50th lease has been executed at its Avalon project in Alpharetta, Ga.

The $600 million mixed-use project is now 90 percent pre-leased with just under one year to go until its Oct. 30, 2014 grand opening.  

 Avalon is one of the largest projects under construction in the United States and it will be the Southeast’s preeminent experiential development — a place where specialty retail, entertainment, restaurants, residences, offices, hotels and public spaces come together to create a truly unique experience.

 “It’s rare, in a mixed-use development of this scale, to have all uses moving forward at the same time,” says Mark Toro, managing partner of NAP. “We are firing on all cylinders, with multifamily, single-family, retail, restaurants, entertainment and office all underway.”

Ron Pfohl

 Recently signed leases include: Oak Steakhouse, francesca's boutique, Kendra Scott, Pottery Barn Kids, Marmi Shoes, Fuzziwig's Candy Factory, American Threads, The Cosmetic Marketand Giovanni DiPalma's Caffe Gio. Those in final lease negotiations include: Crate & Barrel in Phase 1 and Lilly Pulitzer in Phase 2.

“Reaching 90 percent committed in our 400,000 square-foot first phase, one year before opening, is testament to how unique Avalon is,” said Ron Pfohl, vice president of leasing at NAP. 

“We are to the point where we are turning away retailers because we can’t accommodate them. We’ve already secured our first commitment in Phase 2.”

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

Savannah Duncan • The Wilbert Group

1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309

O: 404-343-0870  • M: 404-901-4433

thewilbertgroup.com

http://www.naproperties.com.

NAI Realvest Negotiates Two New Lease Agreements at Airport Industrial Center in Southeast Orlando, FL

Airport Industrial Center, 7452 Narcoossee Road, Southeast Orlando, FL

Michael Heidrich

MAITLAND, FL  – NAI Realvest recently negotiated two new lease agreements totaling 12,000 square feet at the Airport Industrial Center in Southeast Orlando.

 NAI Realvest Principal Michael Heidrich Sr. represented Boston-based BIEL, REO, LLC, the landlord of the industrial building located at 7452 Narcoossee Rd.

Sean DuPree

Unit C with 9,000 square feet at Airport Industrial Center was leased by a local tenant, 1100 Atlantic Collision, Inc. who was represented in the transaction by Sean DuPree of Lincoln Property Company.

  The lease included 34,848 square feet of outside storage space.

John Brazelton

 Central Pump & Supply Inc. of Cocoa, Fla. leased Unit A with 3,000 square feet of industrial space and 10,000 square feet of outside storage was included in the lease agreement.  John Brazelton of BSA Realty represented the 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 New Lease for a Winghouse in Downtown Sarasota, FL

 

Planned 2014 Winghouse Restaurant location, 1991 Main Street, Sarasota, FL

  

Kimberly Manson

ORLANDO, FL and SARASOTA, FL– NAI Realvest recently negotiated a new long-term lease agreement for the 6,296 square foot, partially-equipped, second generation restaurant located at 1991 Main St. in downtown Sarasota.

  The NAI Realvest team of Jeffrey Tanner and Kimberly Manson negotiated the transaction representing the tenant, Winghouse of Sarasota, LLC based in Largo.

 The landlord for the property on the corner of Main and Links is Sarasota Main Real Estate, LLC.

Jeffrey Tanner

  Opening of the new Winghouse restaurant is planned for early 2014 and it will accommodate over 200 patrons.

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 $1.375 Million sale of Two Industrial Buildings totaling 25,200 square feet at Poinciana CommerCenter in Kissimmee, FL

Poinciana CommerCenter West, KIssimmee, FL

Michael Heidrich

ORLANDO, FL– NAI Realvest recently completed the sale of two buildings totaling 25,200 square feet of industrial space for $1,375,000.00 at Poinciana CommerCenter West in Kissimmee.

 Michael Heidrich, principal at NAI Realvest, negotiated the transactions representing the seller, New York, N.Y.-based Poinciana CommerCenter West, LLC.

 Deeja Foods, Inc. of Kissimmee, who leased two of the largest spaces at Poinciana CommerCenter West, exercised their option to purchase both buildings – 1770 Business Center Lane with 13,600 square feet for $725,000.00 and 1780 Business Center Lane with 11,600 square feet for $650,000.00.    

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

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

NAI Realvest Names Ryan Beerbower broker associate in Orlando, FL Office

Ryan Beerbower

ORLANDO, FL -- NAI Realvest one of central Florida’s largest commercial real estate services companies and developers of industrial facilities, recently named Ryan Beerbower broker associate.

Robin L. Webb

Robin L. Webb, CCIM, managing director at NAI Realvest, said Beerbower has 15 years of experience in commercial property development, project management and construction.

Beerbower holds a Bachelor of Science in Building Construction Management from University of Florida and he received his MBA from University of Central Florida.

Tom Hankins

Webb said Beerbower will join the Hankins Group Investment Team with NAI Realvest principal Tom Hankins and will be focusing on sale of and investment in office properties in the Maitland and Winter Park areas.

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

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

Hendricks-Berkadia Negotiates $21.2 Million Sale of 420 Unit Park Place Luxury Apartment Community in Port Richey, FL

Park Place Apartments, 9310 Valley View Lane, Off U.S. 19, Port Richey, FL

Jason Stanton

TAMPA, FL -- Hendricks-Berkadia Apartment Real Estate Advisors, which ranks as one of the leading multi-family investment banking and research companies in the nation, recently negotiated the sale of the 420-unit Park Place apartment community at 9310 Valley View Lane in Port Richey off U.S. 19.

Situated on 23.51 acres, amenities include two pools, Jacuzzi, tennis court, fitness center, two clubhouses, barbeque grills, laundry facilities, and car-care center.

Hal Warren

Jason Stanton, vice president based in Tampa, negotiated the sale with associate partner Hal Warren of the firm’s Orlando office, and Cole Whitaker, partner who heads Hendricks-Berkadia’s southeast region.

Cole Whitaker

Hendricks-Berkadia represented the sellers, Trail Port Richey, LLC and CC Port Richey Apartments, LLC, a partnership of Tom Cabrerizo and Maurice Cayon.

Stanton said the investment property which was built in 1985, benefits from more than $1 million in renovations and improvements over the past three years and has the potential to increase future revenues through a value add program, increasing occupancy to market levels.

Dorvidor Management Company, LLC paid $21,200,000 for the property.

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

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

Stonemark Management Adds Yardi Expertise; Firm Skilled in Both Major Property Management Software

Lela Brooks

Atlanta, GA – Multifamily property management firm Stonemark Management recently hired Lela Brooks to train managers and leasing staff on the Yardi platform.

Gaining proficiency with Yardi property management software means the firm can seamlessly acquire and manage multifamily communities that currently use the Yardi platform.

Stonemark manages multifamily communities for a large number of third-partner owners and investors, as well as joint ventures involving its corporate partner Stonemark Equities.

 Its staff is already skilled in another leading software platform, RealPage’s OneSite system. The addition of Brooks to the firm’s team means it is  becoming proficient in both leading property management operations systems.

“The training that Brooks provides means the firm can now serve a wider array of clients and more seamlessly implement new management contracts, regardless of the software the communities have in place,” said Michael Taylor, CEO of the Stonemark Group.

Michael Taylor

Brooks has more than 15 years experience in real estate, IT and telecommunications. She was previously with Columbia Residential. She earned her undergraduate degree from Alabama A&M University, and is also a licensed paralegal.

The Stonemark Group focuses on the acquisition, financing, ownership, management and disposition of multifamily real estate investments in the Southeastern U.S. and Texas. 

The group includes Chicago-based Stonemark Equities and Atlanta-based Stonemark Management. For more information, visit http://www.stonemarkmanagementllc.com.

  

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

Terri Thornton 404-932-4347 Terri@TerriThornton.com  

Maury L. Carter and Associates, Inc. Brokers Sales of 12 Bank Owned Properties in 20 Months

  

Daryl M. Carter

Orlando, FL– Maury L. Carter & Associates, Inc. sold a 16-acre parcel of bank owned land on Hancock Road, south of Highway 50 in Lake County, for PNC Bank, N.A. to Clermont Storage Center, LLC for $450,000 cash. 

Daryl M. Carter with Maury L. Carter & Associates, Inc. represented the seller.  Austin Anderson with Realty Executives, Lake County, represented the buyer. 

Carter says “this level of activity and shrinking bank owned property inventory are signs that Central Florida is recovering from the recession.”

Maury L. Carter & Associates, Inc. is an Orlando-based full service commercial real estate firm proficient in commercial real estate investments, asset management, brokerage, and development.

  

The firm's officers combine more than 75 years experience in real estate investments and brokerage.

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

Maury L. Carter & Associates, Inc.

3333 S. Orange Avenue, Suite 200, Orlando, FL 32806

407-422-3144

www.maurycarter.com

HFF secures $40 million financing on behalf of The Shamrock Group from Canyon Capital for development of retail outlet center on U.S./Mexico border in San Diego, CA

Rendering of The Outlets at the  Border, a planned retail outlet center along the U.S.-Mexican border in San Ysidro, CA

Aldon Cole

SAN DIEGO, CA – HFF announced today that it has secured $40 million in financing for the development of The Outlets at the Border, a 140,000-square-foot retail outlet center along the U.S./Mexico border in San Ysidro, California.

                Working exclusively on behalf of The Shamrock Group, LLC, HFF placed the $40 million construction loan with Canyon Capital Realty Advisors. 

                Slated for completion in October 2014, The Outlets at the Border is currently under construction and is in the pre-leasing stage with many of the industry’s top national and international retail brands already signed. 

The newly constructed outlets will be the most proximate stores to the San Ysidro Port of Entry, including the new pedestrian border crossing, slated to open in 2015, and is adjacent to the new vehicle entry into Mexico known as El Chaparral, which opened in November 2012. 

The San Ysidro Port of Entry is the busiest crossing in the world with approximately 100 million crossings per year including more than 26 million pedestrians. 

Tim Wright

The Outlets at the Border will be the final phase of the Las Americas Master Plan that includes the development of approximately 800,000 square feet of retail space

                The HFF team representing the Shamrock Group, LLC was led by managing director Aldon Cole and senior managing director Tim Wright.

“The Outlets at the Border will become the new front door to the United States and the highly successful Las Americas retail commerce area.  We are excited to bring a variety of new, top quality retailers into this exceptionally vibrant retail environment that has continued to thrive with consistent high levels of traffic, top of industry sales volumes and low vacancies,” said Randy Levinson of Shamrock Group

                The Shamrock Group, LLC is a San Diego-based real estate development and investment firm founded by Michael K. Binkle and Randy A. Levinson. 

The group primarily focuses on acquisition, development and investment in commercial, office, industrial and retail real estate within the western United States. 

For more information about The Shamrock Group, LLC, visit www.theshamrockgrp.com

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

New Owners Reposition The New Dadeland @ 9700 in South Miami, FL

Rendering of Dadeland@9700 in South Miami, FL
at SW 98th Street and South Dixie Highway (US 1)

Ericka Witkowski

MIAMI, FL -- New ownership is in the process of repositioning Dadeland @ 9700, an 11-story office building at the high-visibility intersection of SW 98th Street and South Dixie Highway (US 1) in Miami.

A new façade and common areas designed by Burton Hersh, P.A., are in the works.

The availability of prominent signage options on the property, located at 9700 South Dixie Highway (US 1) in the South Miami/Dadeland/Pinecrest submarkets, make the building ideal for businesses and professionals.

Leasing consultants Joseph Abood and Ericka Witkowski of Colliers International South Florida are lead brokers for the property.

 Since September when Colliers began leasing the 67,142-square-foot building, proposals for more than 25,000 square feet have been delivered to prospective tenants. "Some full floors are available, as are contiguous areas ranging from 19,150 square feet to 618 square feet," said Abood.

Joe Abood

Even with the physical improvements and tenant-centric new management, lease rates remain favorable to prospective tenants,

Abood said. "Dadeland @ 9700 contains ample covered parking. It is within walking distance of retail, banks, restaurants and the Metrorail, so the location is convenient for those who work in the building, as well as for the clients and customers of businesses there."

Robert Berrin and Ike Fisher, Managing Partners, acquired the building in September, and are fast-tracking the work on the façade and entry.

Easy ingress and egress, consistent attention to common area details, and redundant electrical generators are some of the many benefits that make Dadeland @ 9700 an outstanding opportunity. 

  

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

Chatham Lodging Acquires SpringHill Suites in Savannah, Georgia’s Downtown Waterfront Historic District

  

SpringHill Suites by Marriott Savannah Downtown/Historic District, Savannah, GA

SAVANNAH, GA and 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 160-room SpringHill Suites by Marriott Savannah Downtown/Historic District for $39.8 million, plus customary acquisition and closing costs. 

Jeffrey H. Fisher

Chatham funded the purchase with available cash and borrowings on its secured revolving credit facility.  

Following the acquisition, the company’s leverage ratio is 37 percent, calculated as net debt to hotel investment at cost.  

Chatham currently has the capacity to make incremental acquisitions in the range of $150-$200 million on its balance sheet.

The purchase price represents a forward 12- month capitalization rate of approximately 8.5 percent based on the hotel’s projected net operating income.

Year-to-date through September 30, 2013, the hotel’s RevPAR is up nearly 6 percent to $113.

The SpringHill Suites is the newest hotel within Savannah’s landmark waterfront Downtown/Historic District. 

Savannah Downtown Historic District

Constructed under the strict guidelines of the Historic District’s Preservation Plan and the Savannah Metropolitan Planning Commission, the hotel blends in well with the neighborhood, which is characterized by meticulously restored buildings. 

The Historic District is considered the largest National Historic Landmark District in the United States and is ranked as one of the Top 10 City Destinations in the United States attracting more than  50 million visitors in the past decade.

“Despite the current competitive transaction climate in the lodging industry, we continue to source high quality acquisitions in off-market transactions through our extensive industry relationships,” said Jeffrey H. Fisher, Chatham’s chief executive officer.  

”This hotel matches our strategy perfectly with its infill location, recent construction in 2009, high barriers to new competition and strong, growing demand.  

“Similar to our downtown Portland, Maine Hampton Inn and Suites, demand at this hotel is consistently strong for leisure travelers year-round, due to its great location. 

“The hotel also attracts the corporate traveler segment, which seeks a premium-branded hotel in a great location within the beautiful Historic District.”

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.