Avis Budget Group Named Exclusive Rental Partner of Wyndham Rewards; Members Now Earn Double the Points

Parsippany, NJ  — Avis Budget Group and Wyndham Hotel Group today announced the signing of a multi-year partnership agreement, making Avis Car Rental and Budget Car Rental exclusive partners of the newly re-imagined Wyndham Rewards® loyalty program. The new agreement expands the existing relationship between the two companies.

Wyndham Rewards members now earn double the points previously earned per day on eligible Avis and Budget rentals — 100 points daily — while receiving greater access to money-saving offers. Members also have the option of converting Wyndham Rewards points to rental certificates, starting with as few as 6,500 points.

“Wyndham Rewards is all about simplicity, generosity and rewarding those who’ve earned it,” said Noah Brodsky, senior vice president of worldwide loyalty and engagement at Wyndham Hotel Group. “With great vehicles, thousands of locations globally and now double the points, Avis and Budget are the perfect fit for our members.”

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

Rob Myers

Wyndham Hotel Group

(973) 753-6590

Rob.Myers@wyn.com

Wyndham Hotel Group Bolsters Development Team with the Appointment of Chip Ohlsson as Chief Development Officer

Chip Ohlsson

PARSIPPANY, NJ  – With a continued focus on growing its footprint and brands, Wyndham Hotel Group strengthens its development team with the addition of Chip Ohlsson as executive vice president and chief development officer, North America.

 A seasoned hospitality veteran, Ohlsson brings to Wyndham a deep knowledge of hotel financing, portfolio management, and well-established industry relationships.

“This is more than a welcome, it’s a homecoming for Chip, who began his hospitality career with us selling Howard Johnson® and was part of the Wyndham family for more than 10 years in various roles,” said Bob Loewen, executive vice president and chief operating officer for Wyndham Hotel Group. 

“Our team has driven tremendous growth for our brands, and Chip’s return ensures we continue building momentum across North America.”

Ohlsson rejoins Wyndham Hotel Group as the company renews its focus on building and reinvigorating its portfolio of 15 brands.

In his new role, Ohlsson will drive the development strategy for iconic brands including Days Inn and Super 8 across North America with a focus on proactively identifying and building strategic partnerships to position Wyndham Hotel Group in new markets and to optimize its presence in existing markets.

 He will also be responsible for strengthening and expanding relationships with owners and key ownership groups including real estate investment trusts, developers and financial institutions with hospitality portfolios.

 Additionally, Ohlsson will focus on strengthening and evolving the Hotel Group's development team.

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

Gabriella Chiera

Wyndham Hotel Group

22 Sylvan Way

Parsippany, NJ  07054

(973) 753-6590

gabriella.chiera@wyn.com

Wyndham Marks Monumental Milestone, Becomes First Global Hospitality Company to Reach 1,000 Hotels in Greater China

  

Geoff Ballotti

SHANGHAI, CHINA (September 25, 2015) – Showcasing continued demand for its growing portfolio of iconic brands, Wyndham Hotel Group today marked a monumental new milestone, becoming the first global hospitality company to reach the 1,000 hotel mark in Greater China.

A key region of focus for more than a decade, this landmark achievement comes after years of accelerated growth and the strategic roll-out of six of the company’s 15 brands throughout more than 260 cities and 30 provinces.

“As the largest hotel company in the world and the leading international player in Greater China, today serves as an incredible testament to the strength of the Wyndham Hotel Group portfolio and highlights the increasing significance that China continues to play, not just for our organization but the industry as a whole,” said Geoff Ballotti, Wyndham Hotel Group president and CEO.

“China continues to be on the rise and with a booming middle class that is traveling more and more, we believe there’s no better company as uniquely positioned as we are today to meet their evolving needs.”

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

Ivy Chung

Email: Ivy.Chung@wyn.com

Tel: +8621 3106 9695

Cohn & Wolfe

Evalin Li: evalin.li@cohnwolfe.com

Margaret Cao: margaret.cao@cohnwolfe.com

Tel: +8621 2308 5187 / 2308 5135

Wyndham Hotel Group Continues Russian Expansion with First Hotel in Historic Voronezh

Ramada Plaza Voronezh City Centre, Russia

LONDON, U.K. (22 September 2015) – Wyndham Hotel Group, the world’s largest hotel company based on number of hotels and one of three hospitality business units of Wyndham Worldwide (NYSE: WYN announced the signing of the 210-room Ramada® Plaza Voronezh City Centre in Russia.

Due to open in October this year, the Ramada Plaza marks the first property for the hotel group in this historic and cultural city, adding to Wyndham Hotel Group’s existing portfolio in the country which includes three further properties in Ekaterinburg, Kazan and at Domodedovo Airport in Moscow.

“Our expansion within Russia through the signing of the newly built Ramada Plaza Voronezh City Centre comes just as the country is reportedly experiencing a rebound in airline passenger traffic,” commented Dan Ruff, Wyndham Hotel Group’s president and managing director, Europe, Middle East, Eurasia and Africa.

“Voronezh is an important historic city, providing a fitting location for our iconic, globally-renowned Ramada brand. Its thriving culture and major centre of higher education attracts a variety of travelers, which Ramada is well placed to serve.”

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

Roz Money

Wyndham Hotel Group

The Triangle, 5 Hammersmith Grove

London, W6 0LG

United Kingdom

+44 20 8762 6600

roz.money@wyn.com

RealtyTrac Launches Enhanced Marketing List

Rob Barber

IRVINE, CA — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, announced the launch of its enhanced Marketing List Lead Generation Platform allowing customers to leverage RealtyTrac’s robust nationwide real estate data on more than 120 million U.S. residential and commercial properties to create targeted marketing lists in a convenient, self-service online interface.

“With RealtyTrac’s proprietary real estate intelligence and extensive mailing list development, you get the data segmentation and modeling information you need to precisely target your outreach and fuel customer acquisition and retention,” said Rob Barber, CEO at RealtyTrac.

“Users can find homeowners nationwide based on geographic and demographic characteristics.  This opens up numerous new marketing list applications for virtually every type of business looking to market its products and services to a specific subset of U.S. property owners.”

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

Ginny Walker

949.502.8300 ext. 268

ginny.walker@realtytrac.com

Essex Realty Group Brokers Sale of 85 Unit Multi-Family Building in Chicago, IL

  

 

Brian Kochendorfer

 CHICAGO, IL - Essex Realty Group, Inc. is pleased to announce the sale of 3000 W. Marquette Rd.

3000 W. Marquette Rd. is an eighty-five (85) unit multi-family property that consists of (74) one bedroom, one bathroom, (10) two bedroom, one bathroom, and (1) three bedroom, two bathroom units. 

A garden apartment was remodeled into an on-site management office in 2014. The property includes (3) separate laundry rooms with (2) washers and (2) dryers in each. The property is zoned RT-4 and sits on a 266 x 125 parcel of land.

The sale price was approximately $3,175,000.

Brian Kochendorfer was the broker on the transaction.

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

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

Douglas Fisher

Essex Realty Group, Inc.

773.305.4910

dougfisher@essexrealtygroup.com

www.essexrealtygroup.com

Seven Stone in Atlanta, GA Expands Brand With New Leadership, Website and Showroom

Amy Blanchard Lathi

ATLANTA – Seven Stone, the Southeast’s largest fabricator and installer of premium countertops, continues to enhance its portfolio of offerings and services with an expanded team, interactive website and new showroom.

 On the heels of acquiring Oldcastle Surfaces earlier this year, the company’s newly implemented management team members and online presence are in place and a renovated headquarters at the Atlanta headquarters are all poised to further solidify Seven Stone as a marketplace leader.

“Since our inception, we have aspired to bring the best selection of products and world-class customer service to our customers. Our dedication to that is now evident with our recent launch of our website and digital initiatives, including social media,” said Mark Blanchard, Seven Stone President/CEO.

Led by founder Amy Blanchard Lathi and President/CEO Mark Blanchard, Seven Stone’s management team is comprised of former Oldcastle Surface professionals and new members including Betty Harbourt, VP of Sales and Marketing, who brings 20 years of real estate sales and marketing experience. Additional new management includes CFO Matthew Clark and Brett Gowens, Director of all facility operations.

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

andi hill

liz lapidus pr

772 edgewood avenue ne

atlanta, ga 30307

p 404-688-1466 f 404-681-5204

www.lizlapiduspr.com

Mortgage Bankers Association Reports Multifamily Mortgage Debt Hits $1 Trillion in Second Quarter as Commercial/Multifamily Mortgage Debt Continues Upward Trend

 

Jamie Woodwell

WASHINGTON, D.C. (September 22, 2015)- The level of commercial/multifamily mortgage debt outstanding increased by $38.5 billion in the second quarter of 2015, as three of the four major investor groups increased their holdings.  That is a 1.4 percent increase over the first quarter of 2015.  

Total commercial/multifamily debt outstanding stood at $2.72 trillion at the end of the second quarter.  Multifamily mortgage debt outstanding rose to $1.0 trillion, an increase of $23.6 billion, or 2.4 percent, from the first quarter.

“Rising property values are supporting increased levels of commercial and multifamily mortgage debt,” said Jamie Woodwell, MBA’s Vice President for Commercial Real Estate Research. 

“The total amount of commercial and multifamily mortgage debt outstanding continues to grow at a strong pace, particularly on the multifamily side. For the first time ever, multifamily mortgage debt outstanding now exceeds $1 trillion and is growing at almost 10 percent per year."

The four major investor groups are: bank and thrift; commercial mortgage backed securities (CMBS), collateralized debt obligation (CDO) and other asset backed securities (ABS) issues; federal agency and government sponsored enterprise (GSE) portfolios and mortgage backed securities (MBS); and life insurance companies.

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

Ali Ahmad

aahmad@mba.org

HFF secures $7 million financing for Cleveland Hampton Inn in Brooklyn, OH

Hampton Inn Cleveland Airport-Tiedeman Road, 10305 Cascade Crossing
Brooklyn, OH

 

Jason Bond

CHICAGO, IL –Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $7 million in financing for Hampton Inn Cleveland Airport-Tiedeman Road, an 81-room, select-service property in the Cleveland suburb of Brooklyn, Ohio.

HFF worked on behalf of the borrower, Everest Hospitality LLC, an affiliate of the C/N Group, Inc., to place the 10-year, fixed-rate loan with Starwood Mortgage Capital. 

Loan proceeds will be used to acquire the property and complete renovations that will elevate the hotel to achieving the Hampton Inn Forever Young designation, a multi-pronged program that focuses on updating and modernizing hotels to attract younger guests.

Located at 10305 Cascade Crossing, Hampton Inn Cleveland Airport-Tiedeman Road is four miles east of Cleveland Hopkins International Airport, the largest airport in Ohio, and 10.6 miles west of downtown Cleveland.

 From 2011 to 2014, the hotel underwent almost $500,000 in renovations, including a new lobby, carpet, and upgrades to cooling, Wi-Fi and security systems.  The hotel received the 2014 TripAdvisor Certificate of Excellence Award for achieving outstanding traveler reviews on the TripAdvisor website.

 Features include an indoor pool, fitness center, business center and 1,128 square feet of meeting space.  Hampton Inn Cleveland Airport-Tiedeman Road’s planned updates include completely redoing all rooms and corridors, as well as radically enhancing the exterior by modifying the fascia and roofline.

The HFF debt placement team representing the borrower was led by associate director Jason Bond and managing director Daniel Kaufman.

 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.thecng.com.

www.hfflp.com

 or follow HFF on Twitter @HFF.

HFF arranges sale and financing for Two Liberty Square in Boston, MA

Two Liberty Square, Downtown Boston, MA

Lauren O'Neil

BOSTON, MA –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged the sale of and acquisition financing for Two Liberty Square, a 67,609-square-foot office building in Boston, Massachusetts. 

The seller, CenterSquare Investment Management, on behalf of one of its institutional clients, sold the asset to an affiliate of The Winhall Companies.  Additionally, working on behalf of the new owner, HFF secured the 10-year, fixed-rate loan through SunLife.   

Originally constructed in 1913, the 11-story, Beaux Arts-style, boutique office building is located in downtown Boston steps from Post Office Square.  

The property is 82 percent occupied by tenants including Zipcar on the ground floor in addition to Humana, Arthur J. Gallagher, Copyright Clearance Center and Brill.

The HFF investment sales team representing the seller was led by senior managing director Coleman Benedict and director Ben Sayles. 

The HFF debt placement team was led by director Lauren O’Neil.

“The sale of Two Liberty Square is a win-win for both the buyer and seller,” Sayles said.  “CenterSquare was able to take advantage of today’s strong market, while Winhall was able to take advantage of historically low interest rates and acquire an asset that will perform exceptionally well in the years to come”. 

Ben Sayles

According to HFF, Boston has emerged as a favorite investment market among today’s most active capital sources.  Due to the surging tenant demand from traditional users and the influx of TAMI tenants – those engaged in technology, advertising, media and information – market conditions are getting tighter by the day. 

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.centersquare.com

Landmark AMA Plaza in Chicago listed for sale by HFF

AMA Plaza, on the Chicago River in River North area of Chicago, IL

Jaime Fink

CHICAGO, IL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has been engaged by an affiliate of Five Mile Capital Partners (Five Mile Capital) to market and sell AMA Plaza, a 1.14 million-square-foot, Class A, trophy office and adjacent 902-stall parking garage located on the Chicago River in the River North area of Chicago, Illinois.

Home to the American Medical Association, the 95-percent-leased AMA Plaza boasts a roster of internationally-recognizable, high-quality tenants with a weighted average lease term of nearly 9.5 years. 

The 52-story building is one of Chicago’s premier office towers.  AMA Plaza is a LEED Gold Certified multi-tenant office building situated on top of a separately owned 316-room, five-star luxury Langham Hotel. 

 AMA Plaza, through a recent $73.7 million base-building capital expenditure plan, has been completely redeveloped with all new mechanical systems, elevators, HVAC, restrooms, corridors and a “Green Roof.” 

The property is virtually a new building within an elegant glass and steel façade.  Located on a 1.6-acre site in downtown Chicago on the banks of the Chicago River, AMA Plaza is a designated Chicago Landmark and listed on the National Register of Historic Places.

Jeff Bramson

 The building is the last and largest American building designed by the renowned architect Ludwig Mies van der Rohe, who achieved visual richness through his meticulous choice of materials and minimalist design.

The HFF team representing Five Mile Capital is being led by senior managing directors Jaime Fink, Jeff Bramson and Michael Kavanau, executive managing directors John Pelusi and Gerard Sansosti and managing director Mark Katz. 

“AMA Plaza represents a worldwide generational opportunity to acquire an irreplaceable architectural icon,” Fink said.  “The property transcends the local market and takes its place among the best trophy office towers in the world.”

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

  

HFF arranges development joint venture for mixed-use site in Washington, D.C.’s NoMa submarket

  

 

Sue Carras

 WASHINGTON, D.C. –  Fenoglio Fowler, L.P. (HFF) announced it has arranged a joint venture for the Central Armature Works site, a 106,000-square-foot, mixed-use development site adjacent to the NoMa/Gallaudet University metro station in Washington, D.C.

HFF worked on behalf of the land owner, Central Armature Works, to arrange the development joint venture partnership with Trammell Crow Company (TCC).

Located at 1200 3rd Street NE, the site is the future home of a mixed-use development with multi-housing units and street-level retail space, upon completion of PUD approval.

 Positioned in the burgeoning NoMa submarket of Washington, D.C., 1200 3rd Street NE sits at the confluence of the city’s fastest growing areas, including NoMa, Union Market and the H Street NE Corridor. 

The development site is adjacent to the NoMa/Gallaudet University metro station on the red line, providing connectivity to the entire metropolitan region.

The HFF team representing the land owner was led by Bruce Strasburg, Sue Carras, Walter Coker, Brian Crivella and Mike Stuart.

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.TrammellCrow.com.

  

MVP REIT Enters into Agreements to Purchase Six Parking Facilities for Approximately $69.6 Million

Chicago skyline

SAN DIEGO, CA – MVP REIT, Inc. announced the REIT recently entered into multiple purchase agreements to acquire six parking facilities for approximately $69.6 million in total. 

The agreements include the purchase of two parking garages and four parking lots located in Chicago, Indianapolis, Milwaukee and Minneapolis.

 Chicago

The REIT entered into a purchase agreement to acquire a 317-space parking garage in downtown Chicago. The parking garage also contains approximately 63,000 square feet of retail space.

Indianapolis

MVP REIT also anticipates to acquire two parking facilities in downtown Indianapolis. These include an approximately 52,650-square-foot parking garage with 370 spaces, and an approximately 46,403-square-foot surface parking lot with roughly 149 parking spaces.

Downtown Milwaukee

Milwaukee

The REIT has entered into a purchase agreement for a 48,500-square-foot parking lot with approximately 75 parking spaces.

Minneapolis

MVP REIT is expected to acquire two parking lots in in west downtown Minneapolis, including a 90,658-square-foot surface lot with approximately 270 parking spaces. The REIT also entered into an agreement to purchase a 107,953-square-foot surface lot with approximately 185 parking spaces.

MVP REIT’s parking portfolio currently contains 11 surface parking lots and three parking garages with a total of 3,253 parking spaces. The REIT’s total parking portfolio is valued at approximately $70.9 million.

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

Jill Swartz   

Julie Leber

Spotlight Marketing Communications

949.427.5172, ext. 701                                                                                    949.427.5172, ext. 703

jill@spotlightmarcom.com

julie@spotlightmarcom.com

Jana Kramer and Country Music Personality Cody Alan Bring Super 8 Military Appreciation Tour to The Big E

Jana Kramer

 PARSIPPANY, N.J. (Oct. 2, 2015) – More than 300 service members and their families from Western Massachusetts, including Westover Air Force Reserve Base in Chicopee, will be treated to a special, live Q&A with award-winning Country music star Jana Kramer later today, all thanks to the Super 8® hotel brand and Premiere Networks.

Cody Alan

The event, being held in advance of Kramer’s main stage performance at The Big E, New England’s Great State Fair, will be hosted by CMT After MidNite’s Cody Alan and marks the second stop of the Super 8 Military Appreciation Tour.

 Launched earlier this year, the tour provides service members and their families with access to exclusive, one-of-a-kind events featuring top name Country music stars and is a part of a larger, ongoing effort by Super 8 to recognize and celebrate those who serve.

“As one of the world’s largest and most recognizable hospitality brands, Super 8 is proud to support our service men and women and especially those from the Westover Air Force Reserve Base and the surrounding area,” said Mike Mueller, brand senior vice president for Super 8.

“These individuals have made incredible sacrifices and so it’s truly an honor for us to be able to coordinate this effort for them here today. While it pales in comparison to what they’ve done for our country, this is one small way for us to show our gratitude and thanks.”

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

Rachel Nelson

Premiere Networks

818-461-8057

rnelson@premierenetworks.com

Rob Myers

Wyndham Hotel Group

973-753-6590

rob.myers@wyn.com

Essex Realty Group Brokers the Sale of a 23-Unit Multi-Family Building in Chicago, IL

Brian Karmowski

CHICAGO, IL --  Essex Realty Group, Inc. is pleased to announce the sale of 1901 N. La Crosse Ave.

1901 N. La Crosse Ave. is a 23 unit, multi-family property located on the eastern edge of Chicago’s Belmont-Cragin neighborhood.

 Situated on the northeast corner of Cortland and La Crosse, the property is approximately eight miles northwest of Chicago’s Central Business District. Public transportation is easily accessible via the Grand/Cicero Metra Station located just two blocks southeast of the Property.

Also nearby are many bus lines along Cicero and Armitage. Several restaurants and amenities are located within walking distance of the Property including the Washington Square and Brickyard Mall, Home Depot, Dunkin Donuts, Menards, and the U.S. Postal Service.

The sale price was approximately $1,069,250.

Doug Imber and Brian Karmowski were the brokers on the transaction.

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

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

Douglas Fisher

Essex Realty Group, Inc.

773.305.4910

dougfisher@essexrealtygroup.com

www.essexrealtygroup.com