Arbor Bolsters FHA Lending Platform with Two New Senior Executives

Jeffrey Allshouse

UNIONDALE, NY  - Arbor Commercial Mortgage, LLC (“Arbor”), a national, direct commercial real estate lender, announced the enhancement of its HUD/FHA Lending Group with the appointment of two highly tenured FHA executives in Jeffrey Allshouse, Senior Vice President of FHA Sales; and Jeffrey Ross, Senior Vice President and Chief Underwriter.

 Both Mr. Allshouse and Mr. Ross will report directly to John Caulfield, Arbor’s Chief Operating Officer.

With more than 30 years of commercial mortgage originations experience, Mr. Allshouse will be responsible for growing Arbor’s nationwide HUD/FHA loan originations platform.

Prior to joining Arbor, Mr. Allshouse held senior leadership positions at Prudential Mortgage Capital’s HUD multifamily/healthcare lending unit.  

More recently, he spearheaded HUD-insured hospital originations at Wells Fargo Multifamily Capital, engaging the firm’s first HUD 242/223f transaction. All told, in his career, Mr. Allshouse has generated more than $1 billion worth of direct loan originations and $2 billion worth of FHA originations.

Jeffrey Ross

Mr. Allshouse, who will be based out of Arbor’s Atlanta, GA office, earned his Master of Business Administration degree in Real Estate and Construction Management from the University of Denver and his Bachelor of Business Administration degree in Finance from the University of Michigan.

A 30-year commercial real estate expert, Mr. Ross will be responsible for managing Arbor's FHA multifamily, seniors housing and healthcare operational staff for Multifamily Accelerated Processing (MAP) and LEAN (seniors housing/healthcare) loan production.

He will also supervise the coordination of the Arbor FHA multifamily, seniors housing and healthcare underwriting strategy and the integration of Arbor's Bridge-to-HUD loan program.

Prior to joining Arbor, Mr. Ross worked for Wells Fargo Multifamily Capital, where he was most recently the Director of FHA Screening. Prior to Wells Fargo, he was the Chief Operating Officer and Chief Underwriter for Great Lakes Financial Group, a commercial mortgage lender specializing in FHA and Freddie Mac financing.

Mr. Ross, who will be based out of Arbor’s Cleveland, OH, office, received his Master of Business Administration degree from Baldwin-Wallace College and received his Bachelor of Science degree in Business Administration from John Carroll University.

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

Christopher Ostrowski

costrowski@arbor.com

Lincoln Property Co. Hires John Orsak as Director of Real Estate

John Orsak

PHOENIX, AZ – Lincoln Property Company (LPC) Desert West has hired industry veteran John Orsak as Director of Real Estate. Orsak brings 15 years of real estate experience to his new position, with a focus on acquisitions, dispositions, development, leasing and asset management.

Orsak previously served as Director of Operations and Project Manager at Hines, and as Senior Director Development of VanTrust Real Estate, where he specialized in uncovering value across a range of asset types. During his career, Orsak has produced revenues of more than $200 million.

“Lincoln’s Desert West portfolio is growing at a record-breaking pace,” said Lincoln Property Company’s Executive Vice President David Krumwiede. “John has the broad expertise to move our many investment and development efforts steadily and successfully forward. We’re very excited to have him as part of our team.”

Based in Phoenix, LPC’s Desert West region posted a record-breaking 2015 and continues that momentum into 2016.In the past 16 months, the office has directed more than $300 million in investment and development activity, with recent deals including the $44 million LPC/Invesco purchase of Luhrs City Center in downtown Phoenix, the $35.25 million LPC/Goldman Sachs purchase of Gainey Center II in Scottsdale, and the $34.34 million LPC/Harvard Investments purchase of Riverview Point in Mesa.

David Krumwiede

Development activity includes a late-2015 completion of the 108,000-square-foot Waypoint One office building in Mesa and Q1 2016 groundbreakings on the 152,000-square-foot Waypoint Two building and Phase I of The Grand at Papago Park Center, which at build out will total 60 acres and 3.2 million square feet of mixed-use space, including 1.8 million square feet of office space, just north of Tempe Town Lake.

Orsak holds a bachelor’s degree in Business Administration from Sam Houston State University. He is a member of the National Association of Industrial and Office Properties (NAIOP) and is the founder of Santa’s Sak, a non-profit organization that supports state-sponsored group homes and puts Christmas gifts into the hands of needy children.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

Intercontinental Acquires Large Creative Office Campus in Dynamic El Segundo, CA Market of Silicon Beach

Jessica Levin

EL SEGUNDO, CA – Intercontinental Real Estate Corporation (“Intercontinental”), a national real estate investment, development, and management firm headquartered in Boston, Massachusetts, has acquired the Apollo at Rosecrans, a recently renovated four-building creative office campus totaling 546,833 square feet of office space set on more than 13 acres in El Segundo, California.

CBRE and Kevin Shannon of Newmark Grubb  Knight  Frank represented the sellers, Invesco Real Estate and Second Street Ventures in the transaction.  The purchase price was not disclosed.

“The Apollo is a one-of-a-kind property.  We were able to source and purchase a rare gem that is the definition of the most desired office product in the Silicon Beach area of the Los Angeles market,” says Jessica Levin, Director of Acquisitions at Intercontinental.

“In addition, the asset’s location in a dense geography that provides walkability to surrounding restaurants, stores, transportation and housing options makes this precisely the environment today’s tech and creative company owners and employees are seeking.”

Following its high-end renovation, which was completed in 2015, the property has demonstrated its appeal with a remarkable 537,548 square feet already leased, bringing the asset to 98 percent occupancy in just 18 months, according to Levin.

The Apollo is situated along the Rosecrans Corridor, which is a major hotspot for the growing tech and creative companies in LA. 

Apollo at Rosecrans Office Campus, El Segundo, CA

Levin notes that the Apollo at Rosecrans is also poised for strong rent growth based on favorable market fundamentals, including positive net absorption and the lowest vacancy rates that the El Segundo office market has seen in years.

“Demand for creative office space in Westside LA is on the rise,” explains Levin. “Continuing rent hikes in neighboring markets such as Playa Vista is driving tenants to El Segundo, resulting in a vast migration of businesses to the Rosecrans Corridor. This bodes extremely well for future rent appreciation in this submarket.”

“Despite its unparalleled location and creative appeal, rents at The Apollo are considerably below market rate values based on comparable product in the surrounding areas,” Levin adds, noting that while the property commands the highest rents in the Rosecrans Corridor, the Apollo currently leases office space at a 20 percent discount to average Silicon Beach rates.

The Apollo at Rosecrans is located at 2150 Park Place, 2120 Park Place, 2121 Park Place and 2175 Park Place in El Segundo, near the I-105 and the 110 Freeways.

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

Katie Kea / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

kkea@browermillercole.com

www.browermillercole.com

www.intercontinental.net.

HFF closes sale of trophy Trader Joe’s-anchored retail center in the San Francisco Bay Area

  

Los Gatos Village Square Retail Center, Los Gatos, CA

Nicholas Bicardo

 SAN FRANCISCO, CA, May 10, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Los Gatos Village Square, a 100-percent-leased, 46,235-square-foot, Trader Joe’s-anchored retail center in the San Francisco Bay Area community of Los Gatos, California.

HFF marketed the property on behalf of an institutional seller. Donahue Schriber purchased the asset free and clear of existing debt.      

Los Gatos Village Square is located along Los Gatos Boulevard, which is the most prominent commercial thoroughfare in the city.  

The property’s infill, high barriers to entry location and outstanding demographics of the region has driven a very high rate of tenant retention and historical occupancy at the site, presenting an extremely stable cash flow.

  Anchored by Trader Joe’s, Los Gatos Village Square benefits from outstanding sales productivity from one of the most dominant grocery brands in the country.

 The HFF retail investment sales team representing the seller was led by Nicholas Bicardo, Danny Reddin and Brandon Rogoff.

“Demand for San Francisco Bay Area retail continues to be at an all-time high,” Bicardo said.  “Los Gatos Village Square generated interest from every buyer profile, both domestic and offshore. Retail properties in Los Gatos seldom come available for sale, making this a truly rare opportunity.”

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

Kristen M. Murphy

Director, Marketing

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.DonahueSchriber.com

Post Properties Announces Christopher J. Papa to Step Down as Chief Financial Officer

David P. Stockert

ATLANTA, GA --(BUSINESS WIRE)-- Post Properties, Inc. (NYSE:PPS) announced today that Chief Financial Officer, Christopher J. Papa, will be stepping down from his role, effective May 31, 2016, in order to assume the position of Chief Financial Officer of Liberty Property Trust (NYSE:LPT). Mr. Papa has served as Post’s Chief Financial Officer since 2003.

Post plans to immediately begin the search for Mr. Papa’s replacement. Until such replacement is identified, Mr. Papa’s responsibilities will be assumed by other members of Post’s senior management team, including Arthur J. Quirk, who has been Post’s Chief Accounting Officer since 2001.

Said David P. Stockert, Post’s CEO and President, “Chris has been an effective and valued member of the leadership team here at Post, and has been instrumental in shaping what is one of the strongest balance sheets in the REIT sector. We all wish Chris every success with this new opportunity.”

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

Post Properties, Inc.

Dave Stockert, 404-846-5000

HFF closes $92.75 million sale of South Florida’s Deerfield Mall

Deerfield Mall, Deerfield Beach, FL

Daniel Finkle

MIAMI, FL, May 9, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $92.75 million sale of Deerfield Mall, a 394,248-square-foot, Publix-anchored, community shopping center located in the South Florida community of Deerfield Beach.

HFF marketed the property on behalf of the sellers, CP Deerfield LLC and Land Trust Agreement 1001-SOD.  Weingarten Realty Investors purchased the asset free and clear of existing debt. 

Completed in 1988 and renovated in 2001, Deerfield Mall comprises one main building totaling 366,301 square feet in an “L” configuration, two multi-tenant outparcel buildings totaling 25,427 square feet and two single-tenant outparcels occupied by Citibank and Chick-fil-A.

 The 94.9-percent-leased shopping center is 84 percent occupied by national tenants, including Publix, Sports Authority, T.J. Maxx, Marshalls, Youfit Health Club, Cinépolis, Dollar Tree, Five Below, Ulta Beauty, The Avenue, Panera Bread, First Watch and Taco Bell. 

The property is situated on approximately 43 acres at the “hard corner” of the heavily-trafficked intersection of Hillsboro Boulevard and Powerline Road, which have combined traffic counts of more than 81,000 vehicles per day. 

Luis Castillo

Situated in northern Broward County (Fort Lauderdale MSA) just south of Boca Raton, the center serves a densely-populated and affluent customer base with approximately 323,995 residents within a five-mile radius.

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

“Weingarten's acquisition of Deerfield Mall is consistent with our disciplined strategy to acquire dominant centers in high barrier to entry markets,” said Richard Carson, regional vice president of Development and Acquisitions for Weingarten Realty Investors. 

“The center is anchored by a market-leading grocer and top-tier power center tenants and further strengthens our Florida portfolio of high-performing centers.”

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

Kristen M. Murphy

Director, Marketing

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

George Smith Partners Secures Acquisition Financing for $43 Million Purchase of Iconic Fred Segal Melrose Building in Hollywood, CA

David Rifkind

LOS ANGELES, CA – Commercial real estate investment banking firm George Smith Partners has successfully secured financing on behalf of Canadian retail investment firm CormackHill, LP for the recently announced acquisition of the iconic Fred Segal retail property at 8100 Melrose Avenue in Hollywood, California. 

George Smith Partners’ Principal David Rifkind and his team arranged the financing.

 “Retail is in the midst of a generational change that is reshaping financing in this sector,” says Rifkind. “The shift toward a multi-channel strategy that provides customers with a seamless shopping experience whether online or in-store is changing the way retailers view physical space and retail districts.

“ The result is increased caution among lenders, especially those who don’t yet understand exactly how this shift will impact the commercial real estate market moving forward.”

            Rifkind notes that the financing arranged for this acquisition is indicative of a larger trend in the retail market, specifically retailers and retail insiders being willing to make substantial investments in quintessential shopping districts.

            “Brick-and-mortar properties in key high-end shopping destinations such as Melrose are more important than ever to a retailer’s long-term brand,” explains Rifkind, who points to Chanel’s recent acquisitions in SoHo and Beverly Hills, as well as recent Beverly Hills acquisitions by Zara and LVMH to illustrate this trend. 

            “In this case, our client, CormackHill, LP, is extremely knowledgeable in the retail sector and understood the long term value of this irreplaceable location,” he says.  “Our team demonstrated this vision to lenders, and ultimately structured a market leading loan that fit the client’s objectives.”

            George Smith Partners secured the acquisition loan at a sub-3% floating rate with prepayment flexibility.

            Rifkind notes, “Contrary to what many in the industry claim, enlightened players in the retail sector are highly profitable – utilizing big data, efficient sourcing and manufacturing. In fact, retailers adapting to technology integration are operating at higher margins than ever before.  Many retailers will continue to reduce their store counts, concentrating instead on flagship locations.  This trend will continue to define the strongest retail districts for years to come.”

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

Jenn Quader / Miki Conant

Brower, Miller & Cole

(949) 955-7940

mconant@browermillercole.com

WNC Closes $113 Million California Institutional LIHTC Fund

  

Michael Gaber

IRVINE, CA, May 9, 2016 – WNC, a national investor in real estate and community development initiatives, announced today it has closed WNC Institutional Tax Credit Fund 10 California Series 14, L.P. (CA 14), a $113 million institutional low-income housing tax credit (LIHTC) fund.

The fund will acquire nine properties in both suburban and urban parts of California, within the counties of Alameda, Contra Costa, Los Angeles, Placer, Riverside, San Diego and Santa Clara. Combined, the properties will offer 1,305 affordable housing units to individuals and families.

CA 14 is WNC’s 19th fund closed in the Golden State. Upon completion of all nine property acquisitions, WNC will have acquired more than 260 properties within California.

“WNC has successfully offered and closed a California LIHTC fund for 14 consecutive years, which speaks volumes about our organization’s commitment to providing affordable housing to individuals, families and communities in need,” said WNC Executive Vice President and Chief Operating Officer Michael Gaber. 

“We are very pleased to have continuous support from our existing investors and development partners, as well as added support from new investors as we endeavor to increase the inventory of affordable housing nationwide.”

CA Fund 14 includes 10 institutional investors, nine of which have previously participated in WNC funds. Additionally, 85 percent of the developers are repeat partners.

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

Julie Leber

Spotlight Marketing Communications

949.427.5172, ext. 703 – direct

julie@spotlightmarcom.com

Continental Funding Group Secures $11.5 Million in Financing for Three Sacramento, CA Assets Totaling 136,197 SF

J.M. Grimaldi

LOS ANGELES, CA  – Commercial real estate investment banking firm Continental Funding Group has successfully secured $11.5 million in mini-perm debt refinancing for one retail and two office properties encompassing 136,197 square feet in Sacramento on behalf of its client, a regional investment firm that specializes in acquiring and repositioning underperforming assets. 

The financing was arranged by Continental Funding Group Executive Vice President J.M. Grimaldi.

            “Despite the wide availability of capital in today’s market, many lenders are exercising extreme caution when it comes to financing smaller deals, especially distressed assets in secondary markets,” explains Grimaldi.

“While value-add investments offer a tremendous opportunity to generate returns, securing a lender that is willing to place debt on these types of assets is difficult and requires a significant degree of creativity.”

            The assets were acquired in three all-cash transactions, and the sponsor was initially seeking bridge debt for the two office properties, according to Grimaldi.

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

Katie Kea / Lexi Astfalk

Brower, Miller & Cole

(949) 955-7940

kkea@browermillercole.com

Olive Hill Group Acquires Two Class A Office Towers in Sought-After Silicon Beach, CA Office Market for $65.6 Million

Culver City, CA Office Campus

LOS ANGELES, CA– Olive Hill Group, LLC, a Los Angeles-based private investor, operator and developer of commercial real estate, has acquired two Class A office towers encompassing 206,538 square feet in Culver City for $65.6 million.

Situated on the east side of the 405 Freeway near Jefferson Boulevard, the campus-style property is located in close proximity to Playa Vista, a burgeoning technology market home to national tech giants such as Google, Microsoft and Facebook.

“Our investment strategy is to capitalize on the growth of the tech-centric area of Silicon Beach by transforming this institutional quality office campus into a creative office space, providing a value oriented alternative to offices in Playa Vista,” says Michael Cho, President of Olive Hill Group.

“This will allow us to attract emerging technology start-up companies and ancillary service providers by catering to their demand for creative office space near Playa Vista and the rest of Silicon Beach.”

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

Katie Kea / Lexi Astfalk

Brower, Miller & Cole

(949) 955-7940

kkea@browermillercole.com

Dustex, LLC Signs 16,535-Square-Foot Lease Renewal and Expansion at Chastain Center in Kennesaw, GA

  

Matt Davis

ATLANTA, GA– Dustex, LLC has signed a lease renewal and expansion at Chastain Center office park, located at 60 Chastain Center in Kennesaw, Georgia. The company expanded its lease by 8,483 square feet, and now occupies 16,535 square feet in the park.

Matt Davis and Jeff Henson of Lincoln represented the landlord, TerraCap Management, LLC in the transaction, and Tim Palmer of ICON Commercial represented the tenant.

“We are very excited about Dustex’s expansion and continued commitment to Chastain Center,” Davis said. “It is in large part a tribute to the outstanding job TerraCap Management has done since acquiring the property earlier year, and to the relationships they have developed with the existing tenants.”

Real estate fund manager TerraCap purchased the six-building, 301,000-square-foot office park in Kennesaw, Georgia, in February.

 Located on Chastain Road, Chastain Center features easy ingress and egress to major roadways, all set in an attractive, 27-acre office park. Lincoln assisted TerraCap in the acquisition, and was retained to lease and manage the property.

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

Laura Rispin • The Wilbert Group

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

M: 404-630-0148

www.thewilbertgroup.com

Facebook | Instagram | Twitter

http://terracapmgmt.com.

www.lpcsoutheast.com. 

www.lpcsoutheast.com/blog

On Par: Three New Office Leases, Golf Amenity Push Occupancy at Stonecreek Pointe in Phoenix, AZ

Stonecreek Pointe, Paradise Valley, Phoenix, AZ

John Bonnell

PHOENIX, AZ– Golf course-facing views and significant property renovations at Stonecreek Pointe have attracted three new tenants to the Paradise Valley office project.

 On behalf of building owner HighBrook Investment Management/Cypress Office Properties, the Phoenix office of JLL has completed almost 30,000 square feet in new leases to Premier Business Centers, Vertical Measures and People’s Mortgage. The leases bring the building (formerly Anasazi Plaza II) to 75 percent occupied.

JLL Managing Director John Bonnell, Senior Vice President Brett Abramson and Vice President Chris Latvaaho represented the landlord in all three transactions:

·  Premier Business Centers, a leading national operator of executive suites and office centers, leasing 15,000 square feet.

·  Vertical Measures, an award-winning, Phoenix-based SEO and content marketing firm, leasing 10,808 square feet.

·  Peoples Mortgage Company, a national real estate financing firm established in Arizona in 1998, leasing 3,679 square feet.

In the past 12 months, JLL has completed 27,882 square feet of additional leases at the project, for a total of 57,369 square feet in new commitments. This activity includes digital marketing and internet advertising company Zog Digital (19,511 square feet), law firm Begam & Marks (5,203 square feet) and Churchill Mortgage (3,168 square feet).

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

     

 Stacey Hershauer

 Phone:

 +1 480 600 0195

 Email:

 stacey@focusaz.com

www.jll.com

 or www.jll.com/phoenix.

Chatham Lodging Trust Announces First Quarter 2016 Results

  

Jeffrey H. Fisher

 WEST PALM BEACH, FL —Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels and owns 133 hotels wholly or through joint ventures, today announced results for the first quarter ended March 31, 2016. In addition, the company updated its guidance for 2016.

“Fueled by high-quality acquisitions made in 2015, Chatham grew adjusted FFO per share 15 percent in the 2016 first quarter.  We are gratified to deliver double digit growth this quarter,” said Jeffrey H. Fisher, Chatham’s president and chief executive officer. “With our updated guidance, we remain on track to deliver solid FFO per share growth in 2016, even though RevPAR increases for the industry are moderating.

“Chatham delivered RevPAR growth in-line with industry performance, and our operating results were towards the upper end of our guidance range,” Fisher noted. “Like most other lodging REITs, top-line growth is slowing, not surprising given the significant growth we have experienced over the past several years, the calendar shift for the Easter holiday, as well as the fact that for the first time since the fourth quarter of 2009, industry supply growth outpaced demand growth.”

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

Patrick Daly

Office Manager

Daly Gray, Inc.

patrick@dalygray.com

Office:  (703) 435-6293

Cell:  (703) 300-8289

Edward Berkheimer Joins Berger Commercial Realty as Vice President of Property Management

Edward Berkheimer

FORT LAUDERDALE, FL  – Berger Commercial Realty, a full service commercial real estate firm based in South Florida, recently hired Edward Berkheimer as vice president of property management.

With more than 35 years of experience, Berkheimer joins the firm from KTR Capital Partners / KTR Management Services, LLC, where he served as vice president of property management for nearly 10 years and supervised the company’s South Florida commercial real estate portfolio, which consisted of more than four million square-feet of space.

Prior to KTR, Berkheimer served as senior property manager at GVA Advantis from 2005 to 2006, where he managed a one million square-foot commercial business campus and handled a $57 million annual budget. He also operated as branch manager of United Rental Highway Technologies from 2003 to 2005 and was responsible for overseeing an $8 million annual budget for public roadway installations.

“It is not often that someone with Ed’s experience and skillset becomes available,” said Berger Commercial Realty President Lloyd Berger. “We are excited about the level of professionalism he will bring and welcome him to our property management team.”

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

954-776-1999

Pierson Grant Public Relations

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

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

EverWest Real Estate Partners Expands Arizona Team with Amr Ceran

Amr Ceran

PHOENIX, AZ,  May 5, 2016 – Signifying its sustained growth in the Arizona market, EverWest Real Estate Partners has added Amr Ceran as Senior Director in the company’s Phoenix office.

 Ceran will provide leadership for EverWest’s Phoenix office and will manage EverWest’s Arizona real estate portfolio, including investment strategies, redevelopment and lease-up strategies.

At the same time, EverWest has promoted Curt Kremer to the position of Managing Principal – Equity Ventures. A 15-year industry veteran, Kremer previously served as the head of operations, investment and asset management for the Arizona region. He will retain high-level oversight of the market while also taking on responsibility for the company’s joint venture acquisition activity across the U.S.

“Phoenix has become our largest satellite office, with multiple, significant projects at various stages of the development cycle,” said EverWest CEO Rick Stone. “Managing this kind of portfolio requires expertise not only in commercial real estate but also in the local market. Our Arizona team has this combination, and we know it will produce exceptional results.”

 

Curt Kremer

Prior to joining EverWest, Ceran served as Vice President for the Desert West Region of Lincoln Property Company, where he provided market analysis, asset management, leasing and acquisition/disposition expertise for the company’s regional portfolio.

Across his 18-year career, Ceran has held executive and asset management positions at International Capital Partners, Verde Investments and Voit Real Estate Services. He has participated in more than $1 billion in acquisition and disposition transactions, and has assisted in structuring joint venture partnerships with Goldman Sachs, Invesco and Oaktree Capital.

Kremer brings a background in architecture and commercial real estate, participating in the development and management of more than 5 million square feet of office, industrial and retail development at companies including Ndt Architecture, Opus West, Capital Commercial Investments and EverWest.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

www.EverWest.com.