Tuesday, August 18, 2015

Marcus & Millichap Adds Three Experienced Specialists to the Firm’s National Hospitality Group in Charleston, SC

  
Josh Williams
CHARLESTON, SC  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has hired three experienced hospitality investment professionals to join the firm’s National Hospitality Group (NHG) in Charleston, S.C., according to Gregory A. LaBerge, the NHG’s national director.

Josh Williams joins the firm as an NHG senior director, Joce Messinger as an NHG director and Michael Estes as an NHG associate member.

Vishal Patel, an associate member of the NHG in the Charleston office will also be part of the team.

“The addition of Josh, Joce and Michael to our already industry-leading team of hospitality property investment specialists provides our clients in the southeastern United States with an even greater depth of resources,” says LaBerge.

Joce Messinger
            In his new position, Williams is responsible for Marcus & Millichap’s hotel acquisition and disposition services in the southeastern United States, with major initiatives in North Carolina, South Carolina, and Virginia. 

His 25-plus-year industry experience includes assignments involving large full-service hotels, select service and economy-branded hotels and inns. 

He will guide the team in serving the needs of institutional and private client owners. Williams is a graduate of the University of Georgia.

“Marcus & Millichap continues to redefine the hotel brokerage landscape,” says Williams. “The firm’s platform is truly unlike any other in creating value for hotel owners, and Joce, Mike, Vishal and I are excited at the prospect of helping our clients leverage the many services Marcus & Millichap provides.”

Messinger has closed more than 25 investment real estate transactions in the southeastern U.S. He received a B.S. in business management with a concentration in hotels and hospitality from the College of Charleston.

Michael Estes
“Marcus & Millichap’s National Hospitality Group, with its highly defined specialization on investment properties and financing specifically tailored for the hospitality asset class, ensures that our clients receive exceptional brokerage services,” adds Messinger.

Prior to joining Marcus & Millichap, Estes was the managing director for Charleston-based Beacon Hospitality. 

He has more than 10 years of hospitality management experience as an operator of a variety of full-service and select-service hotels in the Southeast and Mid-Atlantic.

 He is especially well versed in evaluating the performance of brands across the Hilton, Hyatt and Starwood platforms.

“I am looking forward to further strengthening my long-term relationships with hoteliers in the Mid-Atlantic and Carolinas and showing them firsthand why Marcus & Millichap has the industry’s strongest investment sales platform,” Estes says.  

“Combining the strengths, experience and market knowledge of Josh’s team with the value proposition of Marcus & Millichap’s national hotel platform creates a highly compelling solution for hotel owners,” notes Raj Ravi, regional manager for Marcus & Millichap overseeing the Carolinas market.

Patel became an associate with Marcus & Millichap earlier this year. He graduated from Georgia Southern University with a B.B.A. in economics.

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

Gina Relva
Public Relations Manager
(925) 953-1716

Stirling Sotheby’s International Realty Named Exclusive Marketing Agents of Historic Mansion, Destination near Gainesville, FL


Elsie Benitez
GAINESVILLE, FL --- Stirling Sotheby’s International Realty has been named exclusive marketing agents for the Herlong Mansion  an award-winning inn and gardens listed on the National Register of Historic Places.  

The mansion is located two minutes from I-75 and 441 southwest of downtown Gainesville and 10 minutes from the University of Florida. 

“The Herlong Mansion offers a new owner tremendous potential and income opportunity,” said Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty.

 “The mansion is ideally situated, designed and equipped for a destination bed and breakfast and for its historic uses – large weddings and receptions, family reunions, corporate retreats and UF activities.”

 Elsie Benitez, International Marketing Specialist at Stirling Sotheby’s International Realty, is representing the property and serves as principal contact.

Herlong Mansion, near Downtown Gainesville, FL
The Greek revival three-story mansion was constructed in 1910.  Its quaint village setting, situated on 2.3 acres of tranquil gardens with gazebos, is surrounded by stately oaks and giant magnolias. 

The mansion features grand porches,  a grand staircase, 10 ornate fireplaces, 10 private, professionally furnished and decorated suites, an owner’s apartment and two, free-standing single-bedroom cottages. 

 The mansion’s kitchen is well equipped and serves a dining room that seats 25 and a separate banquet hall that can accommodate up to 70 seated guests.

The property is being offered for sale fully equipped, licensed and furnished at $1,299,000, which is below recent appraised value, according to Soderstrom.   

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

Roger Soderstrom, Founder & Owner, Stirling Sotheby’s International Realty, 407-333-1900; rsoderstrom@stirlingsir.com

Chatham Lodging Completes Acquisition of the Residence Inn Fort Lauderdale Intracoastal


Residence Inn Fort Lauderdale Intracoastal/Il Lugano

 PALM BEACH, FL, Aug. 18, 2015—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 completed the previously announced acquisition of the 105-room Residence Inn Fort Lauderdale Intracoastal/Il Lugano.

Dennis Craven
“This is a great addition to our portfolio, further enhances its quality and geographic distribution,” commented Dennis Craven, Chatham’s chief operating officer.

 “Given the current disconnect in public pricing of our common stock, we will use debt and other sources to fund acquisitions over the near term. 

"Our balance sheet is in great shape and we are comfortable adding leverage, as well as potentially recycling capital out of existing assets into hotels in higher growth markets.”

The Residence Inn Fort Lauderdale Intracoastal/Il Lugano opened in 2008 as the Il Lugano Hotel and Residences and was converted to a Residence Inn in 2014.

The stunning 14-story building is located on the eastern edge of the Intracoastal Waterway at Oakland Park Blvd., in Fort Lauderdale and includes 105 oversized rooms ranging from 550 to over 850 square feet, all with views of the Intracoastal Waterway and/or the Atlantic Ocean.

Intracoastal Waterway, Fort Lauderdale, FL
Other hotel amenities include the Coastal View Restaurant, intracoastal waterfront meeting room, 177-space parking garage and waterfront deck with docks that can be expanded for added food and beverage operations. 

The building includes independently owned condominiums that are not a component of the hotel’s operations. 

For the discerning traveler, the hotel provides excellent access to some of the more exclusive beaches and restaurants as compared to hotels along the Fort Lauderdale strip.

 The market continues to experience significant growth in tourism, and the hotel will benefit from the almost $2.5 billion expansion and renovation of the Fort Lauderdale International Airport currently underway which will attract more travelers from the United States, Central America and South America.

Chatham funded the Fort Lauderdale Intracoastal purchase with available cash and borrowings on its revolving credit facility. The hotel will be managed by Island Hospitality Management, a leading hotel management company which is 51 percent owned by Fisher.

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

Chris Daly    
Daly Gray Public Relations                        

(703) 435-6293                                                     

Michael Maidhof Joins Meridian Capital Group as a Senior Vice President to Further the Expansion of its Agency Platform Nationally


Michael Maidhof
 New York, NY, Aug. 18, 2015 – Meridian Capital Group, America’s most active debt broker, announced today that Michael Maidhof joined the Company as a Senior Vice President, reporting to Senior Managing Director, Mike Edelman

Mr. Maidhof will be responsible for expanding Meridian’s agency origination and underwriting capabilities as well as sourcing and placing loans generated by Meridian’s newly-formed investment sales platform.

Mr. Maidhof joins Meridian from Freddie Mac where he most recently held the role of Production and Sales Manager for the Northeast Region.

His tenure at Freddie Mac began in August 2007 as an Underwriter Analyst from which he progressed to a Senior Underwriter in March 2012.

Prior to Freddie Mac, Mr. Maidhof worked for Hunt Mortgage Group (formerly Centerline) where he held the roles of Underwriter Analyst and Associate and was focused on LIHTC transactions and servicing Freddie Mac loans. Mr. Maidhof holds a B.A. from SUNY Binghamton.

“Over Mike’s eight years at Freddie Mac he has developed extensive product knowledge and expertise that is truly second to none,” said Mr. Edelman. “I am thrilled to have a partner of Mike’s caliber at Meridian, and together, I look forward to quickly expanding the firm’s agency platform and capabilities nationally,” he added.

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

Jonathan Stern
Meridian Capital Group
212/972-3600

Monday, August 17, 2015

Marcus & Millichap Brokers Sale of Abacoa Corporate Center in Jupiter, FL for $6.95 Million


 
C. Todd Everett
JUPITER, FL,  Aug. 17, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Abacoa Corporate Center, a 25,566-square foot office property located in Jupiter, Fla., according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office.

The asset sold for $6,950,000 equating to $272 per square foot.

Douglas K. Mandel, a senior vice president investments, and C. Todd Everett, SIOR, a director, in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a limited liability company from Melville, NY, and the buyer, a limited liability company from Palm Beach, FL.

  Steven Goldwyn, associate director with Marcus & Millichap Capital Corporation, provided financing.

“The sale of Abacoa Corporate Center is indicative of the strong demand we are experiencing for stabilized assets in high demographic sub-markets like Jupiter and exemplifies the collaborative capabilities of the Marcus & Millichap platform” says Everett. 

Steven Goldwyn
Abacoa Corporate Center is a 100 percent leased, two-story Mediterranean style office building.  The building features high ceilings, access control systems, second floor balconies, crown molding throughout the common areas and lush tropical landscaping.

Located at 1200 University Boulevard on a corner lot, the property is within walking distance to the shops, restaurants and other businesses in Jupiter’s high-end live-work-play district known as Abacoa Town Center.  
Roger Dean Stadium, the winter home to the Miami Marlins and St. Louis Cardinals, is located directly across the street.

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

Ryan Nee
Regional Manager
Fort Lauderdale, FL

(954) 245-3400

HFF secures $10 million in financing for three-property industrial portfolio near Austin, TX



Mona Carlton
DALLAS, TX – Aug. 17, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $10 million in financing for a three-property industrial portfolio totaling 171,058 square feet in the Austin suburb of Round Rock, Texas.

HFF worked on behalf of the borrower, KFG Investment Company, to arrange the 12-year, fixed-rate loan through Unum Life Insurance Company of America.  HFF is servicing the loan.

The portfolio includes three industrial/flex buildings in Round Rock, a suburb 19 miles north of Austin.  

Loan proceeds will be used to facilitate the purchase of AmorRon 6 and refinance Oakmont and Corridor Park.

·     AmoRon 6, 800 Paloma Drive,  51,928 SF, built 1985
·     Oakmont,  2711 Oakmont, 61,542 SF, built 2002
·     Corridor Park Pointe, Building E, 100 Michael Angelo Way, 61,766 SF, built
·     1999

Chad Russell
The HFF debt placement team representing the borrower was led by senior managing director Mona Carlton and associate director Chad Russell.

KFG Investment Company is a privately owned real estate and investment company that includes industrial and multifamily real estate; the development of residential land; and equity investments in real estate related funds and securities. 

The company is headquartered in Southern California with significant holdings in California and Texas.

 Unum is one of the leading providers of employee benefits products and services.  www.unum.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

Charles Dunn Co. Completes $2.65 Million Sale of Multifamily Property in Hollywood Submarket of Los Angeles



Janet Neman
LOS ANGELES, CA, Aug. 17, 2015 – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $2.65 million sale of a non-rent controlled, eight-unit multifamily property located at 6123 Eleanor Ave. in the Hollywood submarket of Los Angeles. 

Janet Neman, senior managing director with Charles Dunn Company, represented seller, Eleanor Avenue Properties, LLC. The buyer was Next Tuesday, LLC. The closing cap rate was 5.09 percent and the per-unit price was $331,250.

Built in 1990, the two-story building was 75 percent occupied at the close of escrow and consists entirely of two-bedroom units. An extensive renovation was recently completed on the property that included exterior upgrades and new interior features such as recessed, energy-efficient lighting, flooring, kitchen cabinetry and eco-friendly appliances.

6123 Eleanor Avenue Apartments, Hollywood, CA
 Several units offer views of the Hollywood sign. Situated one block south of Santa Monica Blvd. and one block east of Vine St., the asset is within a densely populated area rich in retail, dining, and entertainment amenities to serve the demands of the local resident and employment base.

“The Hollywood market is thriving and prices for multifamily assets continue to be on the rise,” said Neman. “Because this property was recently renovated and repositioned, it is poised to capture prime rental rates and appreciation in a well-located neighborhood.”

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

Darcie Giacchetto
949.278.6224


Multi Housing Advisors Brokers Sale of Apartment Community in Augusta, GA

  
Robert Stickel
ATLANTA, GA (Aug. 17, 2015) — Multi Housing Advisors (MHA) has arranged the sale of Gateway Crossing, a 240-unit apartment community located in Augusta, Georgia.

Robert Stickel, Managing Director of MHA’s Central to Coastal Georgia team based in Atlanta, represented the seller, Giddings Communities Group, in the transaction. LMS Real Estate Investment Management, LLC and Romspen Real Estate Investments, Inc. purchased the property. 

“Gateway Crossing is the premier apartment community in the Augusta market, and provides compelling investment returns,” said Stickel.

 “The property’s strategic location provides access to various job centers throughout Augusta, which has experienced explosive employment growth including more than 14,700 jobs created or announced in the last 26 months. This has created strong fundamentals and investor demand continues to grow in this emerging market.”

Gateway Crossing is located at 601 Giddings Court and features a clubhouse with an Internet cafe, a community garden, resort-style swimming pools with outdoor kitchen and entertainment areas, a state-of-the-art fitness facility and concierge units.

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

Savannah Duncan
The Wilbert Group
404-343-0870

One Eleven, a Downtown Orlando, FL Tower, Gets a Facelift with New Murals

  
One Eleven, Downtown Orlando, FL

 
Scott Stahley
 ORLANDO, FL (Aug. 17, 2015) – Lincoln Property Company Southeast (Lincoln), with the cooperation of the Orlando arts community, has replaced the 44-foot tall murals covering the parking garage on One Eleven, a 31-story mixed-use high-rise encompassing office, retail and residential space, located in downtown Orlando.

In commitment to enhance the presence of the dynamic Central Florida art community, artists in the surrounding area were asked to submit ideas reflecting the vibrant energy of downtown Orlando to enhance the surrounding community.

Lincoln and the board members of See Art Orlando, including Mayor Buddy Dyer, judged the entries. The pieces chosen are “E Scape in Blue” and “The Universe in my Head” by Marla E and “The Continental Shelf” by Roberto Gonzalez.

“These murals showcase Lincoln’s dedication to the Orlando culture and the Downtown art scene,” said Scott Stahley, Senior Vice President for Lincoln who oversees the firm’s central Florida office. “We are committed to keeping the city beautiful and supporting local artists through our efforts.”

The winning artists will have their work displayed over the streets of Downtown Orland for five years, and will each receive a cash prize of $2,000.

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

Savannah Duncan
The Wilbert Group
404-343-0870

HFF closes sale of and secures $33.23 million financing for 142-unit independent living facility in Teaneck, NJ


Heritage Pointe of Teaneck, 600 Frank West. Burr Boulevard,
 
Teaneck, Bergen County, NJ

Ryan Maconachy
DALLAS, TX – Aug. 17, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and secured financing for Heritage Pointe of Teaneck, a 142-unit independent living facility in Teaneck, Bergen County, New Jersey.

HFF marketed the property on behalf of Lowe Enterprises Investors, acting on behalf of an investment client, to an undisclosed buyer. 

In addition, HFF secured a $33.23 million floating-rate loan on behalf of the buyer through Investors Bank and TIAA Direct, a division of TIAA-CREF Trust Company, FSB.

Completed in 2004, Heritage Pointe of Teaneck is a four-story independent living property that has 45 one-, 94 two- and three three-bedroom units averaging 1,045 square feet each. 

The property is 97.2 percent occupied and includes amenities such as a restaurant-style dining room, exercise room, wellness room, arts and crafts room, card room, resident lounge with fireplace, business center, recreation room, hair and nail salon and tennis courts. 

Heritage Pointe of Teaneck is located at 600 Frank W. Burr Boulevard and is approximately a half of a mile from Holy Name Hospital and near Englewood Hospital and Hackensack Medical Center.

Chad Lavender
The HFF team representing the seller was led by managing directors Ryan Maconachy and Chad Lavender along with senior managing director Jose Cruz, managing director Kevin O’Hearn and associate director Michael Oliver.

HFF’s debt placement team was led by managing director Steven Klein.

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com



ConAm To Increase National Management Portfolio: Names Julie Brawn-Whitesides as Executive Vice President of its National Property Management Division

  
Julie Brawn-Whitesides
 SAN DIEGO, CA, Aug. 17, 2015 – The ConAm Group (ConAm) is aggressively increasing its national multifamily property management portfolio through both company-owned and third-party fee management assets and has announced the appointment of Julie Brawn-Whitesides as its new Executive Vice President of Property Management as part of that strategy, according to Rob Singh and Bob Svatos, Co-Presidents of ConAm.

Brawn-Whitesides will be a member of the company’s senior management team and will be responsible for overseeing management operations for ConAm’s nationwide apartment portfolio.

“With her strong background in property operations, Julie’s leadership will complement ConAm’s existing platform,” says Singh.  “We are very excited for Julie to lead our property management team, overseeing current and future fee-managed and company-owned assets.” 

Rob Singh
A 22-year veteran of the multifamily industry, Brawn-Whitesides was previously responsible for an 80,000-unit national portfolio as the Executive Vice President of FPI Management. 

According to Svatos, “Julie was instrumental in the growth of her previous company during her tenure there. 

"With this hire, we have found someone who will uphold ConAm’s reputation as an excellent apartment manager of our existing 50,000-unit portfolio, and who will be an important factor in growing our portfolio. 

“As we continue to rapidly acquire company-owned units which she will oversee, Julie will also be seeking out new third-party contracts nationwide.”

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

Lexi Astfalk or Jenn Quader
(949)955-7940

Banker Lopez Gassler P.A. Leases Full Floor at First Central Tower in Downtown St Petersburg, FL


Mia Jarrell
 ST. PETERSBURG, FL – Banker Lopez Gassler P.A. is relocating its downtown St. Petersburg office to First Central Tower later this year. The law firm has leased a full floor, 15,296 square feet, at the building.

The long term lease was brokered by Mia Jarrell of Colliers International.

“After 32 years in the same building, we’re excited to move to an upgraded space where we can work more efficiently together on one floor," said Jeff Winkler,  Banker Lopez Gassler’s St. Petersburg Office Managing Shareholder.

"We selected First Central because we could combine the use of our lease space with the building’s amenities, like the tenant lounge and conference center, for an all-around improved experience for our team."

 “We are executing a complete build out and expect for our 55 St. Petersburg employees to move-in during November.”

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


Tammy Youngman, Asset Marketing, Inc. (813)968-1388

Fifield Cos. Strengthens Amenity List at E2 Luxury Apartmentsin Downtown Evanston, IL; Adds exhale Boutique Fitness Studio


Randy Fifield
CHICAGO, IL  (Aug. 17, 2015) – Chicago-based Fifield Cos. and Carroll Properties have announced premier boutique fitness studio exhale Evanston will open its second Chicago area location at E2 Apartments, the co-developers’ 356-unit luxury apartment project in downtown Evanston, Ill. The ground floor studio is set to open in December 2015.

“We are so proud to join forces with exhale and bring yet another luxury amenity to E2 for residents to enjoy,” said Randy Fifield, vice chairman of Fifield Cos.

“As a premiere boutique fitness studio, exhale is an ideal partner, complementing E2 as a true lifestyle building. With amenities like exhale, E2 continues to demonstrate why the luxury rental lifestyle has become the preferred option for today’s urban dweller.”

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

Kim Manning, kmanning@taylorjohnson.com, 312.267.4527
Cara Mooses, cmooses@taylorjohnson.com, 312.267.4523


Sunday, August 16, 2015

National Retail Properties Inc. Declares Dividends for its 6.625% Series D Preferred and 5.70% Series E Preferred Stocks


Orlando, FL - The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a cash dividend on its 6.625% Series D Cumulative Redeemable Preferred Stock of 41.40625 cents per
depositary share payable September 15, 2015, to shareholders of record on August 31, 2015.

The Board also declared a cash dividend on its 5.70% Series E Cumulative Redeemable Preferred Stock of 35.625 cents per depositary share payable September 15, 2015, to shareholders of record on August 31, 2015.

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

Kevin B. Habicht
Chief Financial Officer

(407) 265-7348

HFF arranges $5.1 million financing for self storage property in Miami’s Little Haiti neighborhood


Michael Klein
MIAMI, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced  it has arranged  $5.1 million in acquisition financing for 200 NW 79th Street, a 663-unit self storage property located in the Little Haiti neighborhood of Miami, Florida.
  
HFF worked on behalf of the sponsor, 21st Century Storage, to secure the two-year, floating-rate senior loan with three 12-month extension options through Bedrock Capital Associates in New York City. 

200 NW 79th Street is situated in a densely populated location with nearly 200,000 permanent residents living within a three-mile radius. 

Additionally, the property benefits from 257 feet of frontage along NW 79th Street, a main east-west thoroughfare, as well as excellent proximity to Interstate 95 and North Miami Avenue, which provide easy access to downtown Miami/Brickell and Aventura. 

Completed in 1955 and renovated in 2004, the property consists of 628 climate-controlled units, two retail bays and 33 RV parking spaces.  The borrower is planning to make a series of upgrades to the property.

Jose Carrazana
The HFF team representing the borrower was led by director Michael Klein and associate director Jose Carrazana.

“The success of this debt placement can be attributed to numerous factors including the sponsor’s considerable operations and management experience, as well as strengthening economic fundamentals in self storage nationally,” Carrazana said.

 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