Peachtree Hotel Group (PHG) Adds Approximately $154 Million in Acquisitions and Development Agreements In 2016 Second Half

Brian Waldman

ATLANTA, GA —Officials of Peachtree Hotel Group (PHG), one of the nation’s fastest growing hotel investment and management platforms, announced it made five hotel acquisitions and undertook five development projects totaling approximately $155 million during the second half of 2016, increasing to its growing portfolio of select- and limited-service hotels nationwide by approximately 1,250 rooms.

“While most indicators suggest we are near the peak of the current hospitality cycle, we firmly believe there remain a number of prudent and profitable investment opportunities that provide compelling value,” said Brian Waldman, senior vice president of investments.

 “As evidenced by our recent acquisitions, Peachtree will continue to focus on value-add hotel investment opportunities in secondary and tertiary markets with high barriers to entry and diverse demand generators.”

“National average daily room rate (ADR) and occupancy are predicted to continue growing, albeit at slower rates than over the past few years,” Waldman continued.  “Those national averages, however, can be misleading, as each submarket and segment experiences its own path.  We are confident that the markets we pursue are better insulated than most, with higher than average growth potential.”

Since June 2016, PHG made the following acquisitions.

·     The 108-room Hampton Inn & Suites Sarasota/Bradenton-Airport, Fla.

·     The 136-room Aloft Jacksonville Airport, Fla.

·     The 205-room Hilton Birmingham Perimeter Park, Ala.

·     The 120-room SpringHill Suites Birmingham Colonnade, Ala.

·     The 150-room Hyatt Place Atlanta/Perimeter Center

The company invested approximately $73 million in the new acquisitions, including an additional $15 million that will be deployed to upgrade the hotels. The new acquisitions bring the portfolio to a total of 32 hotels year-to-date, encompassing 3,691 rooms. 

Jatin Desai

In addition to the acquisitions, Peachtree also has executed on five new development deals totaling approximately $82 million:

·     The 98-room Hilton Garden Inn Jackson, Tenn.

·     The 106-suite Home2 Suites by Hilton San Antonio Stone Oak

·     The 140-room Hotel Indigo Celebration Pointe in Gainesville, Fla.

·     The 100-room Courtyard by Marriott Kennesaw, Ga.

·     The 90-suite Home2 Suites Prattville, Ala.

The company also divested four hotels totaling 519 rooms.

“We constantly review our portfolio and will regularly sell off assets at the appropriate time to continue our growth strategy and ensure we have the best mix of the right brands in the markets we find favorable,” said Jatin Desai, chief investment officer. 

“Those properties performed admirably, and we expect them to continue to generate good returns for the new owners.  We intend to take the profits from these dispositions and reinvest them in acquisitions, renovations and expanding our portfolio.”

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

PATRICK DALY

OFFICE MANAGER

DALY GRAY PUBLIC RELATIONS, INC.

620 Herndon Parkway, Suite 115 | Herndon, VA 20170

Main: 703-435-6293

Mobile: 703-300-8289

 patrick@dalygray.com

 www.dalygray.com

www.peachtreehotelgroup.com.

Hanley Investment Group Completes Sale of Single-Tenant Just Brakes Store and Sets New National Record Cap Rate

Just Brakes Store, Dallas, TX

Eric Wohl

CORONA DEL MAR, CA – Hanley Investment Group, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm completed the sale of a single-tenant Just Brakes store in Dallas, Texas.

Executive Vice President Eric Wohl, along with Hanley Investment Group’s Associates Austin Blodgett and Andrew Cunningham, set a new national record cap rate representing both the buyer, a private investor based in Austin, Texas, and the seller, a private development firm based in Chicago, Illinois, in the sale of a single-tenant Just Brakes store located at 6530 North Central Expressway in Dallas.

 The 3,377-square-foot store, built in 1964 and remodeled in 2014, is situated on .21 acres, near Southern Methodist University.

According to Wohl, the property had an eight-year absolute NNN lease with a corporate guarantee and strong increases every five years. “The property benefits from close proximity to Southern Methodist University with 11,500 students and the George Bush Presidential Library with 340,000 annual visitors.”

Wohl continues, “The property also features excellent pylon visibility from 320,000 cars per day on I-75 freeway and 18,000 cars per day at the intersection of North Central Expressway and University Boulevard.

“The property also benefits from population in excess of 388,000 people in the five-mile trade area and average household income of more than $104,000 within a one-mile radius. “This sale highlights the strong appetite investors have for quality net-lease properties in primary US markets,” said Wohl.

Austin Blodgett

Just Brakes was recently acquired by Pep Boys, the Philadelphia-based auto parts and repair company led by investor Carl Icahn. The acquisition increases the Pep Boys store count to over 900 locations.

 Prior to the acquisition, Just Brakes was the largest privately-owned brake specialty repair company in North America with 134 location in 14 major markets, Wohl reports. 

In a statement published by Pep Boys, Just Brakes locations will be converted into Pep Boys Service & Tire Centers, offering a full range of services, such as oil changes, tire installations, brake repair and suspension work.

 Hanley Investment Group Real Estate Advisors is a retail investment advisory firm with a $5 billion transaction track record nationwide, who works closely with individual investors, lending institutions, developers, and institutional property owners in every facet of the transaction to ensure that the highest value is achieved. For more information, visit www.hanleyinvestment.com.

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

Anne Monaghan

MONAGHAN COMMUNICATIONS, INC.

anne@MonaghanPR.com

830.997.0963

Dave Kreske Joins Meridian as Vice President of Construction

David Kreske

SAN RAMON, CA -- Meridian, a full-service real estate developer specializing in acquiring and developing real estate facilities, expands its construction division with the addition of David Kreske, a well-respected construction professional with a successful track record of over 25 years in construction management.

In his new role as Vice President of Construction, Kreske will lead the construction project management team as the team drives the pre-development and construction phases of Meridian’s new ground-up development and value-add redevelopment general and medical office projects in the western U.S.

“We are very excited to have Dave Kreske join Meridian,” said Meridian Senior Vice President Mike Conn. 

“Kreske’s wealth of experience and industry knowledge has already made him a key addition to the team. I am confident that Kreske will play a significant role in providing and implementing high-quality solutions for our clients, keeping with Meridian’s commitment to excellence.”

Most recently, Kreske served as Vice President - Construction Services Manager for the Commercial Real Estate Lending group at Bank of the West, one of the largest construction lenders in the western U.S. He provided expert construction due diligence for all construction loans and also managed the Construction Loan Draw Disbursement team for the bank. With an average of 150 active construction loans, Kreske managed the construction risk for a very large portfolio during his 10 years at the bank.

Mike Conn

Prior to his tenure at the Bank of the West, Kreske was a Project Manager with J.R. Roberts Corp.(now known as Deacon Corp.)  He was involved in several types of projects during his time at J.R. Roberts, where he was an Estimator, Project Engineer and the Project Manager.

Those projects included: The Metro-Rail Maintenance yard in Los Angeles; The Technology Center at Orange Coast College in Costa Mesa, Calif.; The Midtown Plaza Podium Condominiums in San Jose, Calif.; University of California, Berkeley Student Housing; and Livermore Valley Plaza Mixed-Use in Livermore, Calif. J.R. Roberts Corp. was ranked among ENR’s 400 Top General Contractors in the U.S.

“My goal is to lead and support Meridian’s construction project management team to successfully provide pre-construction due diligence through project delivery on time and within budget,” said Kreske. “I hope to add value to every project utilizing my extensive due diligence, construction financing and construction management experience. I am very excited to be part of the Meridian team!”

 Kreske is a certified LEED Green Associate by the U.S. Green Building Council. He has also participated in the Construction Lenders Risk Management (CLRM) Forum as a panelist the past three years. Kreske holds a Bachelor of Science degree in Construction Management from California State University, Fresno. Kreske will be based out of the firm’s San Ramon, Calif., office.

Meridian currently has more than 300,000 square feet currently in development and redevelopment and another 200,000 square feet in the pipeline in both northern and southern California. The company will continue to aggressively pursue value-add general and medical office opportunities throughout California.

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

Anne Monaghan

MONAGHAN COMMUNICATIONS, INC.

anne@MonaghanPR.com

830.997.0963

www.mpcca.com.

Core5 Industrial Partners and Helms Development Acquires 60-Acres in South Florida to Develop 750,000 SF of Class A Office/Warehouse

Scott Helms

ATLANTA, GA, Jan. 30, 2017 – Atlanta-based Core5 Industrial Partners and Florida-based Helms Development today announced the acquisition of a 60-acre land parcel from the City of Pembroke Pines located at 20421 Sheridan Street, Pembroke Pines, Florida.

The site is one of the last remaining in Southwest Broward to offer build-to-suit options for larger users and offers a distinctive advantage with trailer parking – an option no other property in land-constrained Broward County can offer.

The joint venture plans to repurpose the property into a distribution park named South Florida Distribution Center, developing 750,000 square feet of Class A office/warehouse space across three buildings. 

Beginning in April 2017, construction will commence on the first phase of the project: the development of a speculative 223,008-square-foot Class A building.

“The property is sited perfectly to benefit tenants that want to service both the east and west coast of southern Florida. It is within 75 minutes of Naples/Ft. Myers and still less than an hour from 85 percent of the tri-county’s population,” states Scott Helms, Principal of Helms Development.

Larry Genet

“Suburb interstate access, coupled with the trailer parking advantage, offers an unheard-of advantage for e-commerce and office warehouse distribution companies needing to serve the population in South Florida as well as points north of the site.”

This acquisition marks Core5’s entry into Florida and will be the first development for the newly-formed Helms Development, of which Mr. Helms will handle development of the property on the site of the former State Women’s Prison.

CBRE’s team of Larry Dinner, Larry Genet, and Tom O’Loughlin will handle leasing. Core5 CEO Tim Gunter announces, “We are pleased to enter South Florida with this property and to partner with Helms Development. We think it’s one of the finest properties in the market.”

Located less than one-half mile from State Route 27 and just under four miles to I-75, the site can service over 5 million people within a one hour’s drive time.

Tom O’Loughlin, senior vice president with CBRE, adds, “As congestion continues to grow on the eastern side of the tri-county marketplace, tenants are starting to look west to take advantage of highway infrastructure and the ability to expand their operations. US 27 is becoming a more popular shipping corridor as tenant’s study how to get into central Florida quicker. South Florida Distribution Center is well positioned to take advantage of this trend.”

The city of Pembroke Pines purchased the property from the state of Florida in 2014. “We spent over two years annexing and entitling the property,” Pembroke Pines City Manager Charles F. Dodge added. “We look forward to the business opportunities the South Florida Distribution Center brings to the community.”

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

Scott Helms

Helms Development

954-648-1933

scott@helmsdevelopment.com

www.c5ip.com.

44 Iconic Hotels Inducted into Historic Hotels Worldwide in 2016

San Clemente Palace Kempinski Hotel, Venice, Italy

WASHINGTON, DC – Historic Hotels Worldwide® has added more than 44 historic hotels in 2016. Hotels approved for induction into the prestigious Historic Hotels Worldwide registry range from over 886 years old to 75 years old.

The 44 iconic hotels represent more than 11 brands, chains, and collections and include historic hotels from 11 countries, including 19 historic hotels in Mexico.

The oldest historic hotel inducted in 2016 is San Clemente Palace Kempinski, in Venice Italy, built in a former monastery including the sacristy of San Clemente Church, one of the oldest places of worship in Venice dating back to 1131.

Hacienda Labor de Rivera (1560) Guadalajara, México (AR)

Historic Hotels of Worldwide is an official program of the National Trust for Historic Preservation (United States of America) for recognizing and celebrating the finest Historic Hotels around the globe.

Historic Hotels Worldwide promotes heritage and cultural travel by featuring a prestigious collection of historic treasures including historic hotels and other historic lodging spanning more than 10 centuries across the globe.

 Twenty-five of the historic hotels are adaptive reuse (AR) historic hotels that have involved converting some or all of a historic building to a hotel. Originally, these buildings were built for another purpose in their history.  Many are operating in former castles, chateaus, palaces, academies, haciendas, villas, and monasteries.

Tivoli Palacio de Seteais (1783) Sintra, Portugal (AR)

Below is the complete list of Historic Hotels Worldwide hotels inducted in 2016:

San Clemente Palace Kempinski (1131) Venice, Italy (AR)

Hacienda Labor de Rivera (1560) Guadalajara, México (AR)

Hotel de Mendoza (1588) Guadalajara, Mexico (AR)

La Misión de Fray Diego (1596) Yucatán, México (AR)

Hacienda Temozon, A Luxury Collection Hotel (1655) Yucatán, México (AR)

Hotel Hacienda Mérida (18th Century) Yucatán, México (AR)

Hacienda el Carmen Hotel & Spa (1722) Guadalajara, México (AR)

Hacienda La Magdalena (1735) Zapopan, México (AR)

Tivoli Palacio de Seteais (1783) Sintra, Portugal (AR)

Hacienda San José, A Luxury Collection Hotel (1800) Yucatán, México (AR)

Hotel Vier Jahreszeiten Kempinski Munich (1858) Munich, Germany

Hotel Vier Jahreszeiten Kempinski Munich (1858) Munich, Germany

Kempinski Grand Hotel des Bains St. Moritz (1864) St. Moritz, Switzerland

Palais Hansen Kempinski Vienna (1873) Vienna, Austria (AR)

Hotel Villa Cipriani (1889) Asolo, Italy (AR)

Hotel Gran Casa Xalisco (1895) Guadalajara, México (AR)

Hacienda Santa Rosa, A Luxury Collection Hotel (1897) Yucatán, México (AR)

Kempinski Hotel Cathedral Square (1900) Vilnius, Lithuania

Hotel San Francisco Plaza (1905) Guadalajara, México (AR)

Hotel Moskva (1906) Belgrade, Serbia

Kempinski Palace Portoroz (1908) Isteria, Portoroz, Slovenia

Kempinski Palace Portoroz (1908) Isteria, Portoroz, Slovenia

Hacienda Lomajim (1920s) Guadalajara, México (AR)

Hotel Morales (1930) Guadalajara, Mexico

Villa Ganz Boutique Hotel (1930) Guadalajara, México (AR)

NH Collection Guadalajara Centro Historico (1948) Guadalajara, Mexico (AR)

Casa Madonna La Providence (1949) Guadalajara, Mexico (AR)

Hotel San Pietro (1955) Tlaquepaque, México (AR)

From the United States, the following Historic Hotels of America® hotels have also been inducted in 2016 into Historic Hotels Worldwide:

AKA Times Square (1893) New York, New York

Ames Boston Hotel, Curio Collection by Hilton (1899) Boston, Massachusetts (AR)

White Stallion Ranch (1900) Tucson, Arizona

The Redbury New York (1903) New York, New York

XV Beacon (1903) Boston, Massachusetts

AKA Wall Street (1907) New York, New York (AR)

AKA Rittenhouse Square  (1912) Philadelphia, Pennsylvania (AR)

Claremont Club & Spa, A Fairmont Hotel (1915) Berkeley, California

Marriott Syracuse Downtown (1924) Syracuse, New York

The Scarlet Huntington  (1924) San Francisco, California

Lawrence Horwitz

dusitD2 hotel constance pasadena (1926) Pasadena, California

La Valencia Hotel (1926) La Jolla, California

The Hollywood Roosevelt (1927) Los Angeles, California

NOPSI New Orleans, a Salamander Hotel (1927) New Orleans, Louisiana (AR)

The Renwick Hotel New York City, Curio Collection by Hilton (1928) New York, New York (AR)

AKA Sutton Place (1929) New York, New York

Hotel Phillips Kansas City, Curio Collection by Hilton (1931) Kansas City, Missouri

The Raleigh Miami Beach (1940) Miami Beach, Florida

“Imagine discovering, experiencing and exploring a hotel in a former castle, chateau, palace, academy, hacienda, luxury villa, or monastery,” said Lawrence Horwitz, Executive Director, Historic Hotels of America and Historic Hotels Worldwide.

 “These 44 historic hotels represent some of the finest historic hotels globally and demonstrate the tremendous stewardship by their owners, leadership, and employees in preserving these wonderful historic treasures. Many are tremendous architectural and heritage landmarks.  Each is ideal for a romantic special occasion.  Every day is Valentine’s Day at these iconic historic hotels.”

Do you know of a hotel that represents the essence of Historic Hotels Worldwide and would be a great addition to this iconic collection? Submit your nomination form here. For getaways around the world, travelers may search and book hotels by destination, experiences, and special offers on HistoricHotelsWorldwide.com.

About Historic Hotels Worldwide®

Washington DC based Historic Hotels Worldwide® is a prestigious collection of historic treasures, including historic  hotels, castles, chateaus, palaces, academies, haciendas, villas, monasteries, and other historic lodging spanning more than ten centuries.

The Raleigh, Collins Avenue, Miami Beach, FL

Historic Hotels Worldwide recognizes authentic cultural treasures that demonstrate exemplary historic preservation and their inspired architecture, cultural traditions, and authentic cuisine. Historic Hotels Worldwide along with Historic Hotels of America are official programs of the National Trust for Historic Preservation (United States of America).

HistoricHotelsWorldwide.com allows travelers to book their next getaway from more than 3,000 historic and cultural experiences, and view special offers at participating historic hotels from 30 countries.

 To be nominated and selected to be featured on this supplemental marketing program website, historical lodging properties must be at least 75 years old; utilize historic accommodations; serve as the former home or be located on the grounds of the former home of famous persons or significant location for an event in history; be located in or within walking distance to a historic district, historically significant landmark, place of historic event, or a historic city center; be recognized by a local preservation organization or national trust; and display historic memorabilia, artwork, photography, and other examples of its historic significance.

To be selected in the United States for inclusion in Historic Hotels Worldwide, a hotel must meet the above criteria plus be a member of Historic Hotels of America.  For more information, please visit HistoricHotelsWorldwide.com.   Click here to see a video on how to leverage your historic hotel.

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

Lauralee@WriteTouchPR.com

Heather Taylor

Manager, Marketing Communications

Historic Hotels Worldwide

Tel: +1 202 772 8333 | Fax: +1 202 772 8338

htaylor@historichotels.org

Marcus & Millichap Arranges the Sale of AA Accredited Storage in Clearwater, FL

                                                                                                                                                           

Brian Baldwin

          

 CLEARWATER, 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 AA Accredited Storage, a 358-unit self-storage facility located in Clearwater, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office.

Brian Baldwin, investment associate, Luke Elliott, vice president investments, and Michael A. Mele, senior managing director investments, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller. The buyer was secured and represented by Anne Williams, vice president investments in the firm’s Memphis office. 

“The buyer selected was new to self-storage investments and was sourced through the marketing platform unique to Marcus & Millichap with multiple offers in the first three days,” says Baldwin.

AA Accredited Storage consists of 358 total units, comprised of 187 climate controlled units, 56 covered shed spaces, 26 full closet units, 22 half closet units and one open bay space across 16,419 rentable square feet.

The facility caters to the local demand for boat and RV storage with 56 covered shed spaces for 25,480 rentable square feet, in addition to 66 open yard spaces. Located at 14433 62nd Street North in Clearwater, Florida, the facility is one-half mile northwest of U.S. Route 19 and 0.7 miles north of Ulmerton Road.

                                             

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

Ari Ravi

Regional Manager

 Tampa, FL

(813) 387-4700

New Owners Unveil Revitalization Plan for East Hills Mall in Bakersfield, CA

Duane Keathley

BAKERSFIELD, CA. – Local developers C & C Properties, Inc. and MarkChris Investments announced their plans for the revitalization of East Hills Mall in Bakersfield, Calif.

The vision is to transform the enclosed mall into an exciting, destination open-air lifestyle center offering a collection of restaurants, shopping and entertainment in 350,000 square feet.

A new, state-of-the-art, movie theater complex will serve as the centerpiece of the new development. The redevelopment project is expected to break ground late in the second quarter or early third quarter of this year, and be completed in the third quarter of 2018.

The redesign features a large outdoor plaza, water fountain, seating and landscaping in front of the theater complex and the adjacent buildings. On either side of the theater are a variety of major retailers, boutique shops, quick-serve restaurants, a coffee house and sit-down restaurants.

In addition to the main building area, the new owners plan to add several buildings along Mall View Road for shops, restaurants and services. The proposed design includes an activated and welcoming streetscape and approachable storefronts that connect with pedestrians and provide plenty of opportunities to sit and socialize.

 

“We are looking forward to providing Bakersfield and especially northeast Bakersfield, an exciting, first-class shopping and entertainment experience,” said Craig Carver. “Our design inspiration is a blend of mid-century modern and contemporary-style architecture so it will uniquely stand out in the market.”

Vincent Roche

Carver said that they have received a lot of interest in the location and are currently in lease negotiations with several national and regional retailers and restaurants as well as a national theater chain.

The new owners completed their purchase of the 414,000-square-foot regional shopping center on December 23, 2016.

 Duane Keathley, Vince Roche and Josh Sherley of Cushman & Wakefield | Pacific Commercial Realty Advisors represented the buyer and seller in the sale. The seller was Retail Equities, LLC of Modesto, Calif. and El Corte Ingles of Spain, Madrid. Keathley, Roche and Sherley have been retained to lease the new shopping center.

“We are excited that local developers recognize the potential of the retail demand in northeast Bakersfield and will execute on a vision to bring a vibrant retail and entertainment center to an underserved retail submarket of Bakersfield,” said Vincent Roche, Senior Director/Principal, Cushman & Wakefield/Pacific Commercial Realty Advisors.

“National retailers look for the strong demographics and high traffic counts that this location offers,” added Roche.

Josh Sherley

Built in 1988 on 36.4 acres, East Hills Mall is located on Mall View Road, between Mt. Vernon Avenue and Oswell Street with excellent visibility and access to Highway 178. According to Roche and Keathley, there are 250,000 people in the project’s primary trade area and approximately 500,000 people in a 10-mile radius. 

There are more than 93,000 cars per day along highway 187 at Mt. Vernon Avenue and 70,500 cars along the highway at Oswell Street.

“This redevelopment has been a long time coming,” said Duane Keathley, Senior Director/Principal Cushman & Wakefield/Pacific Commercial Realty Advisors. “It’s great news for the people of east Bakersfield and for the City of Bakersfield in general. It will be an impressive retail and entertainment center.” 

C & C Properties and MarkChris Investments have completed numerous residential, industrial, commercial and retail development projects in the City of Bakersfield over the last 25 years.

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

Anne Monaghan                                      

Monaghan Communications               

830.997.0963

                                              

Meridian Capital Group Arranges $21.5 Million for the Refinance of the Hampton Inn by Hilton in Coconut Grove, FL

Noam Kaminetzky

Boca Raton, FL – Meridian Capital Group, America’s most active debt broker, arranged $21.5 million in financing for the refinance of the Hampton Inn by Hilton located in Coconut Grove, FL on behalf of Hospitality Operations, Inc.

The seven-year balance sheet loan, provided by the U.S. arm of an international bank, features a fixed rate of 3.90%. This transaction was negotiated by Meridian Managing Director, Noam Kaminetzky and Vice President, Joseph Landsberg, who are both based in the company’s Boca Raton, FL office.

The Hampton Inn by Hilton, located at 2800 South West 28th Terrace in Coconut Grove, is a six-story, 135-key hotel. The property is situated directly across the street from the Metrorail at Coconut Grove and is a 10-minute drive from Miami International Airport and the Port of Miami.

The hotel is also in close proximity to Coral Gables, Key Biscayne, Brickell and Downtown Miami, where guests enjoy a variety of dining, shopping and entertainment, including the American Airlines Arena, Bayside Marketplace, Perez Art Museum and Adrienne Arsht Center for Performing Arts.

 In addition, The Hampton Inn by Hilton’s central location offers direct access to shopping centers and malls, including Cocowalk, Shops at Sunset Place, Village at Merrick Park, Dolphin Outlet Mall, Dadeland Mall and Miami International Mall.

Joseph Landsberg

“This deal presented a unique challenge for the borrower as the prior loan could not be prepaid without a significant penalty,” explained Mr. Kaminetzky.

 “There were concerns about the rising interest rate environment and Meridian negotiated a loan that allowed for a six-month rate lock,” he added. “Ultimately, the borrower was able to close the loan 55 basis points below prevailing market rates as result of this arrangement.”

“The borrower had a long-standing relationship with an existing advisory firm,” said Mr. Landsberg. “Meridian leveraged its strong relationships and experience to obtain a better loan structure, tailored to meet the unique requirements of this asset,” he added.

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

Jonathan Stern

Meridian Capital Group

212/972-3600

jstern@meridiancapital.com

www.meridiancapital.com

HFF secures $46.6 million financing for 7-property office portfolio in Washington, D.C.-area

  

Capital Office Park,  6301-6421 Ivy Lane, Greenbelt, MD

Cary Abod

WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $46.6 million in financing for Capital Office Park, a seven-property office portfolio totaling 806,531 square feet in the Greenbelt, Maryland suburb of Washington, D.C.

HFF worked on behalf of the borrower, Morning Calm Management, to arrange the floating-rate acquisition financing through ACORE Capital, a leading commercial real estate finance company.   

  

The office park is situated at 6301-6421 Ivy Lane, about 11 miles northeast of Washington, D.C. near The Capital Beltway (Interstate 495) in Greenbelt.  The portfolio is currently 60 percent leased to a diverse mix of tenants, including Bozzuto & Associates, Whiting Turner, and the U.S. District Attorney’s Office.

 Morning Calm Management, who will be moving its primary office to Capital Office Park, has a successful track record of office repositionings throughout the United States. Morning Calm intends to inject substantial capital into the assets via the upgrading and modernization of lobbies, elevators, windows and amenity spaces.

These improvements will help the assets retain current tenants and attract additional tenants, and cement Capital Office Park’s position as the premier suburban D.C. corporate location. 

Michael Gigliotti

The HFF debt placement team representing the borrower was led by managing director Cary Abod and senior managing director Michael Gigliotti. 

“Morning Calm has made an impressive foray into the D.C. marketplace with their acquisition of Capital Office Park,” said Abod. 

“They have a clear, coherent plan for the portfolio that resonated with the lender community and generated an impressive amount of interest.  In addition, ACORE was remarkably effective in executing the financing on a condensed timeline.”

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

Kristen M. Murphy

Director, Public Relations

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.morning-calm.com.

HFF arranges $23 million financing for the historic Tribune Tower in Oakland, CA

  

Tribune Tower, Downtown Oakland, CA

 

Bruce Ganong

SAN FRANCISCO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $23 million in acquisition and capital improvement financing for Tribune Tower, an iconic 20-story office building in downtown Oakland, California.

HFF worked on behalf of the borrower, Harvest Properties and True North Management Group, to place the floating-rate loan with a debt fund based on the East Coast.

Tribune Tower features 88,334 square feet including ground floor retail.  The property was originally built in 1906 for The John Breuner Furniture Company as a showroom and store.

 In 1923, the adjoining 20-story, steel-frame iconic Renaissance Revival-style clock tower was completed, and the Oakland Tribune took occupancy for the next 65 years.  Harvest Properties along with True North will embark upon a capital improvement plan to transition the tower into a best-in-class creative office environment.

 The Tribune Tower is located at 409 13th Street in downtown Oakland, ideally located a half a block from the 12th Street/City Center BART station.

The HFF debt placement team representing the borrower was led by senior managing director Bruce Ganong, associate director Brandon Roth and associate Zachary Kersten

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

Kristen M. Murphy

Director, Public Relations

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

.

Luxury Real Estate Veteran Candace McIntosh Rejoins The Keyes Company’s Platinum Properties

  

Candace McIntosh

 PALM BEACH, FL – Platinum Properties, a Keyes Family Company, announces that luxury real estate veteran Candace McIntosh has rejoined the company. Platinum Properties operates as one of Keyes’ luxury residential real estate divisions.

With nearly 15 years of experience as a licensed real estate agent, McIntosh continues to have success representing buyers and sellers in northern Palm Beach County. As a top producer, McIntosh has generated $12 million in sales since the beginning of 2015. She serves an affluent client base in Jupiter, Tequesta and Hobe Sound.

McIntosh has spent most of her career with Platinum Properties. She returns to the firm after a stint at the Jupiter office of Keller Williams.

James Kirvin

In Jupiter’s Mallory Creek, McIntosh listed a property and secured a buyer in just six hours. The transaction was one of the highest sale prices per square foot in that community. She will be bringing another Mallory Creek listing to market in late February.

Before earning her real estate license, McIntosh developed a passion for real estate by investing in property in Utah, Washington and New Mexico, where she grew up.

Independently-owned and operated since its founding in 1926, Keyes is extremely active in luxury residential real estate. In addition to Platinum Properties, Keyes has Valore Group, which is also a division of Keyes Luxury. The combined companies are a premier luxury leader.

Keyes annually sells $650 million in luxury homes priced at $1 million or more. The company expects to grow its annual sales velocity in that category to more than $1 billion.

“We are so excited to have Candace on our team,” said James Kirvin, Chief Executive Officer of Platinum Properties. “She is an extremely knowledgeable real estate professional who has exceptional marketing skills. Candace is constantly a top producer in the northern Palm Beach County market, and she is the type of agent we are trying to attract to our company.”

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

Eric Kalis or Ashley Fierman, BoardroomPR

ekalis@boardroompr.com/afierman@boardroompr.com

954-370-8999

HFF arranges financing for Hanover Rice Village in Houston, TX

Hanover Rice Village Apartments, Near Rice University, Houston, TX

HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged fixed-rate financing for Hanover Rice Village, a 379-unit, Class A, podium-style apartment community near Rice University in Houston, Texas.

HFF worked exclusively on behalf of the borrower, The Hanover Company (Hanover), to secure the 10-year, fixed-rate loan through an agency lender.

Cortney Cole

Completed in 2013, Hanover Rice Village comprises 379 residential units and nine retail spaces totaling 22,599 square feet.  The LEED Green-certified property is situated at the intersection of Kelvin Drive and Dunstan Road in the heart of Houston’s Rice Village live-work-play mixed-use development. 

Hanover Rice Village is a few blocks west of Rice University and proximate to the Texas Medical Center and Hermann Park.  The property’s retail component is leased to tenants, including Coppa Italian Food, Punk’s Simple Southern Food and Cyclone Anaya’s Mexican Kitchen. 

Scott Galloway

Apartment units feature a variety of one-, two- and three-bedroom floor plans with high-end finishes such as nine-foot ceilings, custom cabinetry, large kitchen islands, stainless steel appliances, granite countertops, walk-in closets, in-unit washers and dryers, hardwood in living and dining areas and oversized soaking tubs. 

In addition to pedestrian access to some of the city’s best retail and dining attractions, resident amenities also include a courtyard with resort-style swimming pool, poolside cabanas, fire pit, grilling areas, open-air loggia with fireplace and TV, outdoor banquette seating and dining space, The Resident Club with TV lounge and billiards, gourmet catering kitchen, pet washing station and controlled-entry parking garage.

The HFF debt placement team representing Hanover was led by managing director Cortney Cole, executive managing director Scott Galloway and real estate analyst Dustin Selzer.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | hfflp.com

ohennessey@hfflp.com