The Emirates Academy of Hospitality Management Partners with Hospitality Asset Managers Association MEA

Judy Hou

DUBAI --  The Emirates Academy of Hospitality Management (EAHM), one of the world’s leading hospitality management schools and part of Jumeirah Group, recently signed a cooperation agreement with the Hospitality Asset Managers Association of Middle East and Africa (HAMA MEA).

HAMA is the pre-eminent organization of professionals responsible for proactively increasing asset values on behalf of hotel owners worldwide with more than 400 professionals worldwide representing an estimated 5,000 hotels.

The MEA affiliate is based out of Dubai within the Dubai International Financial Centre (DIFC), covering the Middle East and Africa, with members reaching as far as South Africa. HAMA MEA will seek to support the evolution of the hotel asset management profession across the region while furthering the Association's global footprint, which currently has established affiliates in the USA, Asia Pacific, Japan, China and Europe.

Dr John Fong (left), Director of Business Development and Consulting, EAHM
and René Beil, President of HAMA MEA and Managing Director of Beaufort Global Partners, signed a cooperation agreement at EAHM. 

This agreement with EAHM serves to educate students on the possibility of Asset Management as a career path and further helps to bridge the gap between an increasingly complex industry and education. In a region where maximisation of value for hotel owners and investors is key, it is critical to educate future hoteliers so that they enter the industry with an investor ready mind-set.

Commenting on the new partnership between EAHM and HAMA MEA, Judy Hou, Managing Director of The Emirates Academy of Hospitality Management, said: “We are proud of this partnership as this collaboration will give our students the invaluable experience needed before they enter the industry.”

"We are delighted with this collaboration agreement which is in line with our mission of the enhancement of Hospitality Asset Management through education, advancement of the profession, and highlighting the viability of Asset Management as a professional career path" says René Beil, President of HAMA MEA & Managing Director of Beaufort Global Partners.

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

Dubai International Financial Center

Penthouse 4 , Gate Village Building 2,

PO Box 66435, Dubai,United Arab Emirates

Tel: +971 4 313 2743 Fax +971 4 313 2744

info@hamamea.org

 www.hamamea.org

Hold-Thyssen Negotiates Sale of Professional Office Park in Lutz, FL

Theresa Margaris

CLEARWATER, FL. --- Hold-Thyssen, Inc., a real estate services firm, recently negotiated the $725,000 sale of the Van Dyke Professional Center at 17535-45 Darby Lane in Lutz.    

Theresa Margaris, transaction specialist at Hold-Thyssen, negotiated the sale representing the seller, Portland, Oregon-based NWE17, LLC.  

An established consulting firm specializing in business advisory services purchased the office park which was built in 2007 on 1.77 acres with 7,500 useable square feet.    The property was 66 percent leased at the time of the sale.

Hold-Thyssen, Inc. provides commercial property and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States.

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

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com

Passco Companies Sells 232-Unit Class A Multifamily Asset in Metro Atlanta, GA

Gary Goodman

ATLANTA, GA – Passco Companies, LLC has sold Sundance Creek, a 232-unit multifamily community in the Atlanta submarket of McDonough, Georgia.

 Passco Companies initially acquired the asset for $14.5 million. The sale price was not disclosed, however, industry sources place it at approximately 60-percent above that purchase price.

“We recognized the potential in this asset and submarket early on, and we were able to reap the benefits of its rapid growth in order to bring the property full cycle,” said Gary Goodman, Senior Vice President of Acquisitions for Passco Companies. 

Passco initially acquired Sundance Creek in 2010, a time when many investors were focused only on primary markets, according to Goodman.

“Passco’s investment strategy has always been forward-looking, and this asset exemplifies that,” Goodman says. 

“We identified McDonough as a submarket where employment growth and expansions were planned. Since the property was an REO resulting from a foreclosure it was acquired well below replacement cost at a favorable purchase price.

“We upgraded the asset to include in-demand rental amenities, and were able to sell at a premium price after the planned expansions came to fruition.”

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

Devin Ugland / Lexi Astfalk

Brower, Miller & Cole

(949) 955-7940

Dugland@browermillercole.com

  

www.passco.com.

David Upbin Promoted at Mortgage Bankers Association to Associate Vice President of Education Operations and Programming, and MBA Strategy

David Upbin

Washington, DC – The Mortgage Bankers Association (MBA) announced the promotion of David Upbin to the position of Associate Vice President of Education Operations and Programming, and MBA Strategy. The promotion was effective July 1, 2016.

In his new role, Mr. Upbin, who joined MBA in 2013, will be responsible for the financial management, operations, delivery, and programming of MBA Education’s suite of training products and events.

 From a strategic standpoint, Mr. Upbin will continue to help develop, track and manage annual MBA performance goals and objectives, and will play a key role in the implementation of the MBA’s new Strategic Plan.

Over the past two years, Mr. Upbin has played a significant role in the development and execution of several key initiatives, including Mortgage Banking Bound, the Commercial Real Estate Basics program, and Education Advantage, a training package geared towards Independent Mortgage Bankers and community-based lenders.

Prior to joining MBA, Mr. Upbin was a Client Relationship Manager at Cambridge Associates, LLC, where he developed, maintained and protected client-company relationships. Mr. Upbin earned his bachelor’s degree in Business Administration from The George Washington University.

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

Rob Van Raaphorst

rvanraaphorst@mba.org

(202) 557-2799

Eide Bailly Recommits to Long-Term Lease in Phoenix Midtown Office Market; JLL signs accounting firm to 19,380 s.f. lease renewal at Central Arts Plaza

BMO Tower at Central Arts Plaza, 1850 North Central Avenue
Phoenix, AZ

PHOENIX, AZ – Phoenix’s Midtown office market remains a prime location for corporate tenants to grow and thrive at affordable rents, according to the Phoenix office of JLL and a recent 19,380-square-foot lease renewal and expansion completed at Central Arts Plaza on behalf of tax accountant and CPA firm Eide Bailly, LLP.

Eide Bailly has occupied a full floor at the BMO Tower at Central Arts Plaza for more than a decade. 

With this renewal, they recommit to their Midtown presence, with plans to renovate their office space to accommodate growth and better serve clients across the region. The Phoenix office is one of 29 Eide Bailly locations serving more than 54,000 clients across the U.S.

John Pierson

JLL Managing Director John Pierson and Associate Trevor Pratt represented Eide Bailly in the lease transaction. The building owner, McCarthy Cook & Co., represented itself in the negotiations.

“Eide Bailly originally chose this building for its proximity to downtown Phoenix, its adjacency to the metro freeway system, its rental economics and its professional image. 

"After 10 years, the project still delivers these same advantages, along with a growing list of cultural and corporate amenities in Midtown,” said Pierson. “It is a great place for Eide Bailly to stay, and continue to grow, as it serves its clients.”

According to JLL’s 2016 Skyline report, Midtown Phoenix offers an attractive central location option for corporate tenants, and will remain so as rents in downtown Phoenix continue to rise – now sitting at an average $23.75 per-square-foot for Skyline space and an average $28.29 per-square-foot for trophy Skyline space.

Formerly known as Viad Corporate Center, BMO Tower at Central Arts Plaza is located at 1850 N. Central Ave. in Phoenix. It totals approximately 500,000 square feet of Class A space in 24 stories, making it Phoenix’s fifth tallest office building. 

Amenities at the project include an on-site café, outdoor lounge, fitness center, conference center, performing arts theatre and two-acre park amenity. Notable tenants in the tower include BMO Bank, Cavanaugh Law, Cramer-Krasselt, PWC and Stinson Leonard Street Law Firm.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

Berger Commercial Realty Secures 8,000 Square-Feet in Lease Transactions for Tenants in Boca Raton, FL and Davie, FL

Michael Feuerman

FORT LAUDERDALE, FL -- Berger Commercial Realty Palm Beach Managing Director Michael Feuerman and Broker Associate Greg Milopoulos recently secured 8,000 square-feet in lease transactions for tenants in Boca Raton and Davie.

Feuerman represented Madsen, Kneppers & Associates, Inc. (MKA) in leasing 4,500 square-feet of office space from Boca Medical Plaza, LLC within the Camino Real Center, located at 7100 W. Camino Real in Boca Raton.

MKA is a multidisciplinary construction consulting firm that provides creative solutions to the construction, legal and insurance industries. With locations in Orlando, Pensacola and Tampa, this is MKA's only office in South Florida.

Milopoulos represented Dr. Zev Mellman, PA in leasing 3,500 square-feet of retail space from Indian Ridge 3, LLC within the 595 Corporate Park of Commerce, located at 10368 State Road 84 in Davie. Dr. Mellman is among only a handful of chiropractors in Florida trained in Chiropractic BioPhysics, a chiropractic technique that corrects and restores the alignment of the spine.

For more information about Berger Commercial Realty's tenant representation services, call 954-358-0900.

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

954-776-1999

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

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

Plaza Advisors Announces Sale of Bayshore Gardens Shopping Center in Bradenton, FL

Jim Michalak

TAMPA, FL -- Plaza Advisors is pleased to announce the sale of Bayshore Gardens in Bradenton, Florida. The shopping center totals 162,996 square feet of gross leasable area and includes several major tenants: Publix, TJ Maxx, Anytime Fitness and a shadow Target.

Jim Michalak and Mike Cvetetic of Plaza Advisors represented the seller in the transaction. The seller and buyer were Kimco Realty and Publix Super Markets, respectively. 

 

Plaza Advisors specializes in the disposition of anchored shopping centers located throughout the southeastern U.S.

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

Jim Michalak

Managing Partner

 3412 Bay To Bay Boulevard

Tampa, FL 33629

813.837.1300 Ext. 101

Fax 831.2627

jim.michalak@plazadvisors.com

www.plazadvisors.com

Anantara Siam Bangkok Hotel Hosts 17th World Gourmet Festival in Thailand

Chef Kanesaka Shinjii

BANGKOK, THAILAND -- Continuing on the success of the past World Gourmet Festivals, Anantara Siam Bangkok Hotel is delighted to announce that it will host the 17th Annual World Gourmet Festival from 19-25 September 2016.

Since its inception, the World Gourmet Festival has grown in prominence to feature an extraordinary line-up of some of the best chefs, winemakers and food experts from across the globe. They gather under one roof for a week-long celebration of outstanding cuisine and superb wines. 

Currently confirmed to participate in the 17th Annual World Gourmet Festival are:

Chef Kanesaka Shinjii, Shinji by Kanesaka - Raffles Singapore ( 2 Michelin Star)        

Chef Mauro Colagreco, Mirazur in Menton, France ( 2 Michelin Star)        

Chef Anthony Genovese, Il Pagliaccio, Rome – Italy ( 2 Michelin Star)        

Chef Hideaki Sato, Ta Vie, Hong Kong (1 Michelin Star)

Chef Marco Stabile, Ora d'Aria at Florence, Italy (1 Michelin Star)

Chef Josean Alija, Nerua Restaurant from Guggenehim Museum of Bilbao, Spain             (1 Michelin Star)

Chef Ana Ros,            Hiša Franko in Kobarid, Slovenia

Chef Dharshan Munidasa, Ministry of Crab – Colombo, Sri Lanka

Chef Bobby Chinn, Freelancer – Hanoi

 

Chef Mauro Colagreco

Each guest chef will host two evenings in one of the hotel’s award-winning restaurants. 

The hugely famous World Gourmet Brunch - one of the most popular events of the festival - will take place on the last day of the event, Sunday, 25 September. 

This is the last chance to sample their creations, and offers more availability than the exclusive dinner events.

Anantara Siam Bangkok Hotel has created the World Gourmet Festival package so that guests enjoying one of the festival dinners can retire to their guestroom afterwards, full and content, and enjoy a good night’s sleep.

The package starts at THB 23,900 ($682 U.S.)  for two people, including overnight accommodation in a deluxe view room, access to Kasara lounge (including buffet breakfast and evening canapés) and tickets to any selected World Gourmet Festival.*

Princess Soamsawali

We are proud to support HRH Princess Soamsawali’s ‘Save A Child’s Life from AIDS Project’ under the auspices of the Thai Red Cross Society, which provides medicine for pregnant mothers who are afflicted with AIDS.  Proceeds from the auction held throughout the week plus THB 600 per dinner ticket sold will be donated to the charity.

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

  

Hwee Peng Yeo

 Vice President, Asia Markets

 Glodow Nead Communications

 San Francisco • New York • Singapore • Shanghai

Level 21, Centennial Tower, 3 Temasek Avenue • Singapore 039190

Level 15, One Corporate Avenue, 222 Hubin Road, Shanghai China, 200021

 1700 Montgomery Street, Suite 203 • San Francisco, CA • 94111

 Asia: 65.9768.6087  US:415.394.6500 • E: hweepeng@glodownead.com

 www.GlodowNead.com

  

杨慧萍

 副总裁

博德纳公关咨询公司

 Centennial Tower 21层，Temasek Avenue 3号， 新加坡邮区039190

 上海湖滨路222号企业天地一号15层，中国邮编20021

 E: hweepeng@glodownead.com

 www.GlodowNead.com

Englewood Construction Announces Five Retail Projects

 

William Di Santo

CHICAGO, IL – Englewood Construction, one of the country’s leading commercial construction firms, announced its retail group has started three projects in Chicago’s west and southwest suburbs.

They include the ground-up construction of the Chicago area’s first Blain’s Farm & Fleet in Romeoville, Ill.; the renovation of a Sam’s Club in Woodridge, Ill., and the interior remodel of an AMC Theatre in New Lenox, Ill.

The general contractor also began interior renovations for an AMC Theatre in Austin, Texas, and recently completed the remodel of a Wal-Mart in Maplewood, Mo.

                  

“We continue to add nationally and regionally recognized retail brands to our client roster, which is a testament to our capacity as a national contractor to build or renovate in any of their target locations,” said William Di Santo, president of Lemont, Ill.-based Englewood Construction.

 “These projects also show the variety of commercial construction activity we’re currently seeing, from out-of-the-ground buildings in new locations to renovation of existing facilities.”

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

Sarah Lyons, slyons@taylorjohnson.com, (312) 267-4520

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

Chicago’s Taylor Johnson Announces Two New Clients

Emily Johnson

CHICAGO, IL – Taylor Johnson President Emily Johnson has announced two new clients. They are:

·     The NM Project Company, LLC, The John Buck Company and @properties in promoting The Ritz-Carlton Residences, Chicago, Magnificent Mile, an 89-unit boutique condominium building located steps from Michigan Avenue.

·     Chicago-based Draper and Kramer, Incorporated, a national leader in property and financial services.

Designed by Lucien Lagrange, The Residences is the only Chicago building featuring the exclusivity and legendary service of The Ritz-Carlton brand in a residential setting. From the building’s Landmark Club – designed to be an extension of owners’ homes – to its house butler, 24-hour attendants, private dining options, event-planning staff and home management assistance,

Founded in 1893 by Arthur W. Draper and Adolph F. Kramer, Draper and Kramer remains family-owned and is one of the largest privately held full-service real estate firms in the U.S.

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

For Draper & Kramer, please contact Sarah Lyons at 312.267.4520, slyons@taylorjohnson.com.

For The Ritz-Carlton Residences, please contact Lehia Franklin Acox, Taylor Johnson: (312) 267-4511, or lfacox@taylorjohnson.com;

 Peter Olesker, @properties: (312) 334-8360, or polesker@atproperties.com

Foxford Kicks Of Third Phase of Somerset Townhomes In Downtown Lake Zurich, IL

Peter Brennan

CHICAGO, IL – Hinsdale, Ill.-based Foxford Communities will hold a grand opening on Saturday July 30 and Sunday July 31 from 10 am – 4 pm to debut its decorated model of the newly designed townhomes in phase three of Somerset Townhomes, a community of 39 upscale townhomes along the lakefront in downtown Lake Zurich, Ill.

Homebuyers who close on a townhome by September 30, 2016 will get a Sea-Doo Spark 2up WaveRunner.

Located on West Main Street between Lakeview Place and Old Rand, Somerset Townhomes provides a maintenance-free, lakeside lifestyle within walking distance to numerous restaurants and shops in downtown Lake Zurich. 

The first two phases of the community, which included 27 homes, are now completely sold out. Phase three will include 12 townhomes all with direct frontage on Breezewald Park and amazing views of Lake Zurich itself, completing the 39 luxury townhomes planned for the Somerset Townhomes community.

“Building in phases has given us the opportunity to listen to our buyers and refine our floor plans to provide additional features that will continue to exceed buyers’ expectations,” said Peter Brennan, president of Foxford Communities.

“The newly decorated model home will showcase a refreshed spacious interior with a flexible layout and high-end finishes. However, the breathtaking views of Lake Zurich will be the ultimate showstopper in these homes.”

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

Kelly Shumaker

Senior Account Executive, Taylor Johnson

Direct:    312-267-4519

Phone:   312-245-0202

Fax:        312-245-9205

E-mail:   kshumaker@taylorjohnson.com

  

The Summit at Fritz Farm in Lexington, KY Expands Collection of Fashion-Forward Retail Offerings with Addition of Local Boutique Morton James

Halie Rogers

LEXINGTON, KY — Morton James, an upscale boutique offering bohemian-chic clothing and accessories for women, is the newest addition to The Summit at Fritz Farm’s list of notable retailers.

Morton James chose The Summit at Fritz Farm, located in Lexington, Kentucky, for its second location to cater to its growing audience. The $156 million, mixed-use development will open in March 2017.

“Morton James provides edgy, casual-chic apparel that is unique in Lexington, and will complement the other fashion-forward retailers we have signed at The Summit at Fritz Farm,” said Lindsay Bayer-Shipp, retail brand strategist for Bayer Properties. 

“At The Summit at Fritz Farm, we have curated a collection of national brands and local and regional boutiques that will appeal to all of our trend-setting guests.”    

Halie Rogers founded Morton James in 2013 to serve Lexington’s shoppers who value both style and quality. 

The store carries clothing and accessories from top fashion lines including Show Me Your Mumu, Generation Love, Bella Dahl, For Love and Lemons and a wide variety of designer denim such as J. Brand, Citizens of Humanity and AG. Morton James’ flagship location is located in the Chevy Chase district in Lexington.

Lindsay Bayer-Shipp

 “Since our flagship location is across town, our new store at The Summit at Fritz Farm will allow us to better serve our Lexington fans, as well as reach a broader regional audience,” Rogers said. 

“The Summit at Fritz Farm has an impressive list of tenants so far, and the addition of local boutiques will create a cool, authentic atmosphere.”

Bayer Properties is integrating local tenants like Morton James into its retail leasing strategy to further celebrate Lexington’s heritage. 

The Summit at Fritz Farm is distinctly Lexington, which is evident from its “farm chic-inspired” landscaping from acclaimed local garden designer Jon Carloftis and local food concepts like Honeywood from famed restauranteur Ouita Michel.

The Summit at Fritz Farm will be a regional shopping destination that is the first of its kind in the market. 

Featuring a best-in-class tenant lineup, The Summit at Fritz Farm will include Bonobos, J. McLaughlin, Brooks Brothers and Kendra Scott, with additional stores to be announced in the upcoming months. The Summit at Fritz Farm will also serve as a gathering spot for the community, and offer a series of signature events and public spaces designed to offer an authentic sense of place.

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

Savannah Durban

  The Wilbert Group

  Tel: 404.901.4433

  Email: sdurban@thewilbertgroup.com

www.bayerproperties.com.

www.mortonjamesboutique.com.

Florida Ranks Among Top Four States for Retail and Warehouse Development in National “Economic Impacts of Commercial Real Estate, 2016 Edition” Report

 

Thomas Bisacquino

 In Florida, commercial real estate development supports 100,569 jobs and contributes $5.7 billion to the state’s economy. Including e-commerce distribution and fulfillment facilities, Florida ranks third for warehouse and flex space development behind Texas and California. For retail space development, Florida ranks fourth behind New York, Texas and California.

Highlights from the "Economic Impacts of Commercial Real Estate, 2016 Edition" include:

·     Commercial real estate development supported 3.2 million American jobs in 2015 (a measure of both new and existing jobs).

·     Commercial real estate development contributed $450 billion to U.S. GDP.

·     There were 429.4 million square feet of commercial real estate space built in 2015, with capacity to house 1.1 million new workers.

 “Commercial real estate continues to bring new jobs, improve infrastructure, and create places to live, work and play,” said Thomas Bisacquino, NAIOP president and CEO.

“This is positive news both for the industry and the nation, but clarity on budget policy and tax reform following the presidential election will provide more certainty and add to the confidence of developers and investors.”

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

Kathryn Hamilton

703-904-7100

hamilton@naiop.org

www.naiop.org.

Capital Square 1031 Completes Medical Office DST Offering in Winchester, Va.

 

Louis Rogers

 WINCHESTER, Va.-– Capital Square 1031 announced its Delaware statutory trust offering, CSRA Winchester MOB DST, comprised of a 9,503-square-foot medical office condominium in Winchester, Virginia, has been fully subscribed by investors.

Located at 38 W. Jubal Early Dr., the single-story condominium is 100 percent leased to Bio-Medical Applications of Virginia and guaranteed by Fresenius Medical Care Holdings Inc. The unit was recently built-to-suit for Fresenius Medical Care, a wholly-owned subsidiary of Fresenius Medical Car AG & Co. KGaA. The property is striped with 31 surface parking spaces.

“This medical office unit, which is on a long-term triple net lease to a subsidiary of the world’s leading provider of dialysis products and services, was purchased in an all-cash transaction and was well-received by investors,” said Louis Rogers, founder and chief executive officer of Capital Square 1031.

 “We are pleased to complete this offering, the 19th DST Capital Square 1031 has closed since its founding in late 2012.”

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

Jill Swartz

Spotlight Marketing Communications

949.427.5172, ext. 701

jill@spotlightmarcom.com

Shopoff Realty Investments Acquires Power Shopping Center in Reno, NV

  

William Shopoff

 RENO, Nev. –– Shopoff Realty Investments, a national manager of opportunistic and value-add real estate investments, announced the company has acquired Firecreek Crossing, a regional power shopping center, for $48.5 million.

The 348,000-square-foot shopping center is located in the Meadowood Mall submarket of Reno, Nevada at the intersection of Kietzke Lane and Redfield Parkway, providing shoppers in the Reno metropolitan region superior access from U.S. 395.

The center is shadow-anchored by Walmart and Sam’s Club, further promoting the regional appeal to the property along with the national credit tenant line up, which includes Ross, TJ Maxx Home Goods, Michaels and a number of other nationally recognized brands. The center also features a new ULTA Beauty location, which opened in June.

“Shopoff Realty Investments is proud to be the new owner of Firecreek Crossing. We look forward to serving the community and adding to the already strong tenant mix,” said Shopoff Realty Investments Chief Executive Officer William Shopoff.

“We plan to improve and enhance the aesthetic appeal of the property and implement a lease-up strategy, strengthening the opportunity to increase overall revenue and occupancy of the center, which is currently 71 percent occupied.”

David Placek

Firecreek Crossing is Shopoff Realty Investments’ second acquisition in the local market in 2016. The firm closed on the purchase of Iron Horse Shopping Center located in Sparks in February of this year.

“We are excited by the growth in the greater Reno area and look forward to expanding our commercial portfolio in this region over the years,” commented Executive Vice President of Shopoff Realty Investments David Placek.

Reno is a thriving community with rapid growth fueled by tech expansion. The announcement of large and recognizable companies such as Amazon, Tesla and Apple moving to the area has created unparalleled motivation for businesses to focus on Northern Nevada.

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

Jill Swartz

Spotlight Marketing Communications

949.427.5172, ext. 701

jill@spotlightmarcom.com