Chatham Lodging Announces Monthly Dividend

  

 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, announced that its board of trustees has declared a monthly common share dividend of $0.10 for September 2015.  

The common dividend is payable October 30, 2015, to shareholders of record on September 30, 2015.

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

Chris Daly    

Daly Gray Public Relations                                                   

(Media)                                                                                       

chris@dalygray.com

(703) 435-6293                                                                                                                                      

NAI Realvest negotiates Two New Office Leases at One South Orange Avenue in Downtown Orlando, FL

  

Jeffrey W. Bloom

ORLANDO, FL – NAI Realvest recently negotiated two new leases totaling 2,976  square feet of office space at One South Orange Avenue in downtown Orlando.

Senior Director Jeffrey W. Bloom, CCIM negotiated both transactions on behalf of the landlord, One South Orange Ltd.

Professional Litigation Support leased Suite 406 with 1,689 square feet, and Evanios LLC, an IT management firm leased 1,287 square feet. 

Professional Litigation was represented by John Gay and Sarah Castor of CRESA Partners, and Evanios was represented by Mitch Heidrich of NAI Realvest.

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

HFF closes sale of Class A South Orange County, CA office property

  

Foothill Plaza office campus, Foothill Ranch, Lake Forest, CA

Ryan Gallagher

IRVINE, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Foothill Plaza, a two-building, 208,747-square-foot, Class A office campus in Foothill Ranch in the city of Lake Forest, California.

HFF represented the seller in the transaction.  Cornerstone Real Estate Advisers, acting on behalf of a Firm-managed fund, purchased Foothill Plaza free and clear of debt.  

Additionally, HFF has arranged a five-year, full term interest-only, fixed-rate permanent financing with a correspondent life company for the buyer, which is in the process of closing.

Foothill Plaza is located at 27422 and 27442 Portola Parkway within the master planned community of Foothill Ranch in South Orange County.  

The property is immediately adjacent to and visible from State Route 241 and is within close proximity to the Santa Ana and San Diego Freeways. 

Foothill Plaza tenants have immediate access to numerous restaurants and retail amenities on-site including Wahoo’s Fish Taco, Urban Grill and Wine Bar, Starbucks, UPS Store, Comerica Bank and a Marriott Courtyard Hotel as well as the 2,500-acre Whiting Ranch Wilderness Park adjacent to the property.

Kevin MacKenzie

 Foothill Plaza features 34,000-square-foot floor plates and a recently renovated central courtyard with creative outdoor workspaces.  Completed in 2001, the property is 91 percent leased to tenants including iBaset, Kaiser Aluminum and Chemical, Skilled Healthcare Group and Global Benefits Group. 

The HFF investment sales team representing the seller was led by senior managing director Ryan Gallagher, managing director Mike McCann, director Tim Geiman and associate director Derreck Barker. 

The HFF debt team representing the buyer was led by senior managing director Dana Brome from the Boston office, and senior managing director Kevin MacKenzie and associate director Brian Torp, both from the Orange County office.

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

 www.cornerstoneadvisers.com.

HFF closes sale of iconic Boca Raton, FL shopping center

  

University Commons, 1400 Glades Road, Boca Raton, FL

 

Daniel Finkle

MIAMI, FL –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of University Commons, a 180,323-square-foot, 100-percent-leased shopping center with multiple national anchors in Boca Raton, Florida. 

HFF marketed the property on behalf of the seller, an entity controlled by Boca Raton-based Schmier & Feurring Properties.  Jacksonville-based Regency Centers purchased the asset subject to an existing loan.       

Situated on 22.4 acres at the Interstate 95 interchange, University Commons is located at 1400 Glades Road.  This “main and main” location is in one of Boca Raton’s top commercial trade areas and is visible to approximately 260,000 vehicles per day. 

Developed in 2001 by the seller, the pedestrian-friendly, open-air center consists of one primary building with four outparcel buildings and 1,156 parking spaces.  

University Commons is 100 percent leased to Whole Foods Market, Nordstrom Rack, Barnes & Noble, Bed Bath & Beyond, PF Chang’s, J. Alexander’s, Mario’s Osteria, and Shake Shack. 

Luis Castillo

The HFF team representing the seller was led by senior managing director Daniel Finkle, managing director Luis Castillo and associate director Nat Scarmazzi.

“University Commons is one of the premier retail centers in the country,” Finkle said.  “Its combination of location, tenancy and design are impeccable and highlighted by the tenant’s outstanding sales performance.”

“I have a tremendous amount of excitement about purchasing this trophy asset that will further promote Regency’s time-tested strategy of acquiring very high quality shopping centers,” said Scott Porter, vice president of Transactions for Regency Centers.

 “We couldn’t have done this without the good people over at HFF and Schmier & Feurring Properties.  Their expertise and professionalism were key in working through many hurdles in this deal.”

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

www.regencycenters.com

Twitter @regencycenters

www.sfrealty.com.

Berger Commercial Realty Brokers Close Five Lease Transactions at Lyons Technology Center in Coconut Creek, FL

Judy Dolan

FORT LAUDERDALE, FL - Judy Dolan and Greg Milopoulos of Berger Commercial Realty, a full service commercial real estate firm based in South Florida, recently brokered five lease transactions totaling more than 9,000 square-feet of warehouse space at Lyons Technology Center, located at 4911 Lyons Tech Parkway in Coconut Creek.

Representing 4811 Lyons Tech Parkway, LLC, Dolan and Milopoulos closed:

the new lease for 1,562 square-feet of space to Winner Business, LLC in bay 25;

the expansion lease of 3,124 square feet of space to Genex A/C, Inc. in bays 10 and 25;

the renewal of 1,562 square-feet of space to Florida Heat Pump and AC Service, Inc. in bay 8;

the renewal of 1,562 square-feet of space to Kerr Fire Investigations, Inc. in bay 11;

and the renewal of 1,562 square-feet of space to Pan Ocean Communication, Inc. in bay 27.

Built in 2003, Lyons Technology Center consists of 49,336 square-feet of industrial, warehouse and flex space.  The two-building property features front-loading bays and grade-level doors. Lyons Technology Center is located in the heart of Coconut Creek just north of the Sawgrass Expressway with easy access to Florida's Turnpike and I-95. 

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

Media Contact: 954-776-1999

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com

Marcus & Millichap Arranges $4 Million Sale of Plaza 1551 Office Park in West Palm Beach, FL

Plaza 1551 Office Park, West Palm Beach, FL

 

Douglas K. Mandel

WEST PALM BEACH, FL  – 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 Plaza 1551, a 39,899-square foot, five-building, multi-tenant office park located in West Palm Beach, Fla. The asset sold for $4,000,000.

Douglas K. Mandel, a senior vice president investments, and C. Todd Everett, a senior associate, in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a private investor from Red Bank, NJ.

  The buyer, a limited liability company from Coral Gables, Fla., was also secured and represented by Mandel and Everett.

“This was an excellent opportunity to acquire a stabilized, multi-tenant office investment in the Palm Beach Lakes corridor of West Palm Beach. 

"With the tightening supply of quality office product in the downtown submarket, Palm Beach Lakes Blvd is seeing significant positive absorption. The buyers recognized the value and ability to push rental rates. 

"In addition, the site is zoned OC (office commercial) allowing for high-density multi-family, commercial or hospitality redevelopment opportunities,” says Mandel.

The property consists of a five-building, multi-tenant office campus situated on a 3.7-acre, lake-front lot. The property is situated in the east Palm Beach Lakes office micro-market, at 1551 Forum Place, just minutes from downtown West Palm Beach.

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

                  

Ryan Nee

Regional Manager

Fort Lauderdale, FL

(954) 245-3400

RealtyTrac Real-Life Analysis: The Best Time to Buy a Home

IRVINE, CA -- When is the best time of year to buy a home? RealtyTrac took a big data approach to this question, analyzing 32 million single family home and condo sales over the past 15 years.

 We compared average sale prices to average estimated market value at the time of sale to determine whether buyers paid a premium or bought at a discount.

Based on the closing date of the sale, we broke down the data by month, weekday and day of the year to identify when buyers historically have realized the biggest discounts. Below are high-level details.

·         The best month to close on the purchase of a home is October.

o   Out of 2.7 million single family home and condo sales over the last 15 years that closed in October, buyers realized an average discount of 2.6 percent below full estimated market value at the time of sale.

o   Following October as best months to buy were February, July, December and January — all fall or winter months except for July, which was a surprise given that conventional wisdom would suggest that is a good time to sell but not necessarily to buy to buy at a bargain price.

o   The worst month of the year to close on the purchase of a home is April, when buyers over the last 15 years have purchased at an average premium of 1.2 percent above estimated market value at the time of sale.

·         The best weekday to close on the purchase of a home is Monday.

o   Out of 5.5 million single family home and condo sales over the last 15 years that closed on a Monday, buyers realized an average discount of 2.3 percent below full estimated market value at the time of sale.

o   Friday is the second-best weekday to close on a home purchase. Buyers who closed on Friday realized an average discount of 2.0 percent.

o   Thursday is the worst day of the week to buy a home, with a 1.0 percent average discount, followed by Wednesday with a 1.4 percent average discount, and Tuesday, with a 1.9 percent average discount.

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

Jennifer von Pohlmann

Sr. Data PR Manager

Office: 949.502.8300 ext 139

jennifer.vonpohlmann@realtytrac.com

Bull Realty Brokers $5.1 Million Sale of 53,000-SF Stanley Marketplace in Metro Charlotte, NC

Frank Meyrath

ATLANTA, GA —Bull Realty brokered the sale of the 53,000 square foot grocery anchored shopping center in metro Charlotte, NC known as Stanley Marketplace. The sale closed on Sept. 1, 2015 for $5.1 million. The center is anchored by Food Lion and Family Dollar. 

Bull Realty was the only broker involved in the transaction. Frank Meyrath, VP of Capital Markets, arranged the sale between the seller, The Simpson Organization of Atlanta, GA and the buyer, a North Carolina-based private investor. 

Meyrath had previously worked with both the buyer and seller on separate transactions. He called Stanley Marketplace an “outlier asset” for the seller, which has recently made significant investments in office properties. The buyer was attracted to the strength and remaining lease term of the anchor tenant, Food Lion.

Bull Realty, Inc. (www.BullRealty.com) is a U.S. commercial real estate brokerage and advisory firm headquartered in Atlanta, licensed in nine states providing acquisition, disposition, leasing and advisory services. 

The firm also produces and hosts the nationally-syndicated Commercial Real Estate Show (www.CREshow.com). The popular weekly show is broadcast on 40 radio stations nationwide, iTunes, YouTube and CREshow.com.

Bull NC License # C17910

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

Melissa Henry

Communications Associate

Bull Realty, Inc.

50 Glenlake Pkwy, Suite 600

Atlanta, GA  30328

404-876-1640 x 110

9th annual Comcast Business Waterfored 5K at Blue Lagoon Race Expected to Raise $30,000 for Communities in Schools of Miami-Dade

  

Elizabeth Mejia

MIAMI, FL — Billed as the largest family-friendly, networking event in the Southeast the 9th Annual Comcast Business Waterford 5K at Blue Lagoon, Presented by The South Florida BMW Centers is produced by Taylor & Mathis and TeamFootWorks.

The sanctioned 5K race (3.1 miles) will wind its way through Waterford at Blue Lagoon Office Park on Friday, November 6, beginning at 6:45 p.m., and will benefit Communities in Schools Miami-Dade. 

The event course opens at 3 pm with an Electric Edition after party immediately following.

The event is anticipated to include more than 3,000 race participants, over 65 corporate sponsors, and has contributed nearly $190,000 to benefit Miami Children’s Hospital, Public Schools of Miami-Dade & Broward counties and more.

The event will donate 100 percent of its proceeds to charitable causes. This year’s primary beneficiary is Communities in Schools of Miami-Dade, an affiliate of the nation's largest and most effective dropout prevention organization.

"We are so excited to have been selected as the beneficiary of the Comcast Business Waterford 5K Race, Presented by The South Florida BMW Centers", shared Elizabeth Mejia CEO of Communities In Schools of Miami. 

“The funds raised by the Event, Taylor & Mathis and all of the participants will help us achieve our mission of keeping students in schools and preparing them for life. 

“Over 20,000 students in Miami-Dade will be provided free tutoring, mentoring, counseling and life skills programs thanks to the generosity of all the Comcast Business Waterford 5K participants.”

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

Peter Romero – Event Organizer

Senior Property Manager

TAYLOR&MATHIS of Florida, LLC

5805 Blue Lagoon Drive, Suite 440

Miami, Florida  33126

Ph:    305-267-8062

email: promero@taylormathis.com

Terrazas Miami Celebrates 150 Sales; Miami River Community Undergoes Revitalization

   

Ana Maria Sierra

MIAMI, Sept. 9, 2015—Terrazas Miami, a luxury waterfront condominium development on the Miami River, has announced that it has reached 150 sales and is now almost 50 percent sold out. 

Prices at Terrazas Miami start in the mid-$200,000s and a majority of the units are priced under $400,000.

“Many projects in South Florida right now are in the pre-construction phase, but at Terrazas, buyers can close immediately and either begin living at the property or purchase a pre-leased unit and begin earning rental income,” said Ana Maria Sierra, sales manager at Terrazas.

Located at 1861 NW South River Drive, Terrazas Miami is a two-tower, 324-unit luxury, gated community located directly on the Miami River. 

Terrazas Miami condominiums, 1861 NW South River Drive,  Miami, FL

For more information on Terrazas Miami, contact the sales office at 305-440-4775.

   

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

BoardroomPR

954-370-8999

Laura Burns- lburns@boardroompr.com

Ilana Tescher- itescher@boardroompr.com

Sandra Reichman - sreichman@boardroompr.com

www.terrazasmiami.com.

Stonemark Managing Nine Multifamily Communities for AH Capital in Metro Atlanta and Athens, GA

Arbors North Decatur Apartments

Atlanta, GA (Sept. 9, 2015) – AH Capital and its vertically integrated management company, Sycamore Property Management, have chosen Stonemark Management to transition from self-performing to outsourced management. 

The communities, which Stonemark now manages, include a total of 2,341 units in the Metro Atlanta and Athens areas.

“We selected Stonemark because we believe its credentials, record of success and employee dedication will help our assets cross a new threshold of financial performance,” said Joel Miller, Executive Director of AH capital. “With some of our assets entering the market, we determined it’s best for all parties involved to have a partner like Stonemark providing guidance and stability.”

Oaks at Holcomb Bridge Apartments

As of Aug. 31, Stonemark now manages:

·     Arbors at North Decatur – 156 units near Decatur

·     Ashland Lakeview – 255 units in Stone Mountain

·     Cascade Oaks – 112 units in Southwest Atlanta

·     Moore’s Mill Village – 171 units in Northwest Atlanta

·     Oaks at Holcomb Bridge – 304 units in Roswell

·     Retreat at Marketplace – 330 units in Southwest Atlanta

·     University Gardens – 357 units in Athens

·     University Oaks – 500 units in Athens

·     Veracruz – 156 units in Forest Park

Stonemark President Walt Lamperski said the firm is extremely pleased to partner with AH Capital on its Georgia portfolio.

 “Their core values of educating and promoting on-site employees, improving the physical asset and enhancing financial results aligns beautifully with Stonemark’s initiatives,” Lamperski said.

Veracruz Apartments

“Stonemark’s extensive experience and expertise in the Atlanta market will add great value to this new relationship.”

AH Capital produces opportunistic returns for investors in real estate markets by creating value through targeted asset repositioning. Since its inception in 2010, the privately-owned firm has successfully redeveloped more than $100 million of multifamily assets. Its subsidiary, Sycamore Property Management, has served as the firm’s managing entity since 2011.

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

terri@territhornton.com

 www.stonemarkmanagementllc.com.

CBRE Lists Mercantile Bank Plaza for Sale in Winter Park, FL

Mercantile Bank Plaza, 1560 North Orange Avenue, Winter Park, FL

WINTER PARK, FL -- CBRE, Inc. is the exclusive marketing broker for 1560 N. Orange Ave; a Class-A, seven story, multi-tenant office building located in Winter Park, Florida. Excellent access and visibility, strong occupancy and high quality nearby amenities make 1560 Orange an excellent investment that does not come available often.

     

   Property Snapshot

Rentable Area 102,651 sq. ft.

Occupancy 91%

Land Size ±4.74 Acres (±206,651 SF) on main parcel plus

±0.64 Acres (± 27,878 SF) on parking lot across Orange Avenue

±5.38 Acres TOTAL

Year Built 1971

No. of Stories Seven

Parking 234 Surface Spaces on-site, plus 60 in the lot across Orange Avenue

Submarket Winter Park

    

Ron Rogg

Investment Highlights

  +  NOI projected to grow 66% over the next ten years

 +  Winter Park office vacancy rate is only 10.78% as of 2Q 2015 (Class A vacancy is 4.36%)

 +  In-place rents are below market

 +  Strong in-place income from credit tenants

 +  Additional development potential: medical, office, retail, residential

 +  Superior location and visibility on a hard corner, offering more than 1,100 linear feet frontage on 17/92 and Orange Avenue

   +  Minutes away from Orlando's CBD, Florida Hospital, Park Avenue and Rollins College

 +  Amenities include an on-site fitness center and ATM

 +  Located at signalized intersection

 +  Rare opportunity to purchase a well-established office property in one of Orlando’s most exclusive submarkets

  

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

 Ronald J. Rogg, CCIM

Executive Vice President

+1 407 839 3194

ron.rogg@cbre.com

Mortgage Bankers Reports Commercial/Multifamily Delinquencies Continue Downward Trend in Second Quarter

Jamie Woodwell

WASHINGTON, D.C. (Sept. 9, 2015) — Delinquency rates for commercial and multifamily mortgage loans continued to decline in the second quarter of 2015, according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report.

“As commercial property incomes and values continue to climb, and financing remains plentiful, loan performance continues to improve as well,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research.

 “Commercial and multifamily mortgage delinquency rates were down broadly in the second quarter, with highlights including the lowest 90+ day delinquency rate on bank-held multifamily loans since the series began in 1993, and 60+ day delinquency rates below 0.06 percent for loans held by life companies, Fannie Mae and Freddie Mac.”

The MBA analysis looks at commercial/multifamily delinquency rates for five of the largest investor-groups: commercial banks and thrifts, commercial mortgage-backed securities (CMBS), life insurance companies, Fannie Mae, and Freddie Mac.  Together these groups hold more than 80 percent of commercial/multifamily mortgage debt outstanding.

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

Ali Ahmad

aahmad@mba.org

(202) 557-2727

Cortland Partners’ New Acquisitions Keep Company on Track to Meet Goals

  

Steven DeFrancis

ATLANTA, GA — Cortland Partners is on track to meet its growth objectives for 2015 thanks to the company’s acquisitions since the beginning of the year, including its most recent addition in August of 1,374 units with a value of nearly $139 million across markets in Georgia, Texas and Florida.

Since the start of 2014, Cortland Partners has acquired approximately 14,000 units and now owns over 30,000 apartment homes throughout the Southeast, Midwest, and Texas.

As part of this expansion, the Atlanta-based company opened a new regional office in Charlotte, North Carolina in April. This spring, Cortland purchased 3,265 units in Charlotte, becoming the fourth-largest multifamily owner in the Queen City.

The company’s growth has landed it on the 2015 National Multifamily Housing Council’s (NMHC) prestigious annual ranking of the 50 largest apartment owners. This designation marks Cortland’s first time on the list, which is a nationwide ranking based on the number of units owned.

“Our growth this year is both significant and sustainable,” said Steven DeFrancis, CEO of Cortland Partners. “Through our strategic infrastructure, which includes product design, property management, construction management, and manufacturing, we are uniquely positioned to drive outsized returns by meeting the growing demand for distinct living choices and superior service.”

Cortland, which employs over 950 associates in eight states and is the only institutionally scaled, multifamily value-add enterprise in the country, began as a developer and still pursues development opportunities. Yet, the company has shifted its primary focus in recent years, using its development expertise to revitalize already existing communities in order to deliver a higher quality product for a better living experience.

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

Sarah DeFrancis

Cortland Partners

404.965.3988

Sarah.DeFrancis@cortlandpartners.com

www.cortlandpartners.com.

Marcus & Millichap Arranges $8.75 Million Sale of 96-Unit Grand Oaks Apartments in Tampa, FL

Francesco P. Carriera

TAMPA, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Grand Oaks Apartments, a 96-unit multifamily community located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $8,750,000.

Francesco P. Carriera and Michael P. Regan, both vice president investments in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, was secured and represented by Carriera and Regan.

Grand Oaks Apartments is a 96-unit multifamily community located at 8450 Standish Bend Drive in Tampa, Florida. The property was constructed in 1984, and the amenities include a fitness center, picnic area with barbecue grills, clubhouse and sparkling swimming pool.

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

Richard D. Matricaria

Vice President/Regional Manager, Tampa

(813) 387-4700