Sunday, June 11, 2017

Outside the Lines (OTL) Unveils Entertainment Show Fountain at $3 Billion Legacy West Development in Plano, TX

  
Legacy West Fountain, Plano, TX
PLANO, TX – Outside the Lines (OTL), a design-build construction company that specializes in creating one-of-a-kind water features, rockwork and themed environments, has unveiled a state-of-the-art, iconic show fountain that will serve as the public centerpiece of the new mixed-use Legacy West development in Plano, Texas.

“Public spaces are the new anchor tenant in retail,” says J. Wickham Zimmerman, Chief Executive Officer of OTL.  “Now more than ever, retail owners recognize the importance of integrating thoughtfully designed gathering spaces, artful show fountains, and central park areas to drive foot traffic and transform their centers into world-class destinations.”

OTL’s entertainment show fountain, which encompasses 3,500 square feet across three separate basins, will consist of 131 nozzles to create a choreographed water show that dances in synchronized movement to 14 individually programmed songs and 398 LED lights.

“This fountain will deliver a crowd-stopping water ballet, making Legacy West a must-visit destination for residents and visitors in this rapidly growing submarket,” says Zimmerman.


J. Wickham Zimmerman
Situated in the central plaza along a main street thoroughfare, OTL’s fountain is directly adjacent to luxury apartments, restaurants, and retailers in a high traffic, open-air setting, and serves as the focal point of the retail entertainment center.


“Our design concept creates a multisensory, dynamic, fully-integrated art and entertainment experience that entices shoppers to come to the center and to stay longer,” explains Zimmerman, who notes that a recent study by MIT and Path Intelligence Ltd. found that shopping centers with vibrant public spaces, programming and entertainment features saw a considerable increase in average length of stay, resulting in higher revenue streams and overall sales.

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

Katie Kea or Jenn Quader
Brower, Miller & Cole
(949) 955-7940

Downtown Tampa’s Park Tower To Get Multi-Million Dollar Renovation


Park Tower,  Downtown Tampa, FL

Larry Feldman
TAMPA, FL — City Office REIT, Inc. (NYSE: CIO) (“City Office” or the “Company”)  announced it has commenced an extensive multi-million renovation on downtown Tampa, Florida’s Park Tower, with completion anticipated in the first quarter of 2018.

In November 2016, a joint venture partnership consisting of City Office, Feldman Equities LLC and Tower Realty Partners acquired Park Tower for $79.75 million.  These groups have partnered together and previously renovated other notable office buildings in the downtown St. Petersburg, Florida market. 

The most dramatic change at Park Tower will be the modernization of the 475,000 square foot office building’s façade.  In addition to painting the exterior a lighter color, a new and dramatic entrance will feature a ‘Light Box’ on one of the most prominent corners of Tampa.  The building’s amenities will be also upgraded with a striking new lobby.  

“The renovation of Park Tower will use glass and light to reposition this prominent historic structure as one of the most notable and exciting buildings on Tampa’s skyline,” stated James Farrar, Chief Executive Officer of City Office. 

Internationally-renowned architect Gensler is the designer for both the exterior façade and the building amenities.  The updated design extends a brand to Park Tower that will create a Class-A experience that persists from the sidewalk to the tenant door. 


James Farrar
“The opportunity to renovate our city’s original  high rise is a real honor, and we’re excited to reposition Park Tower as one of the premium assets in the downtown core,” stated Bert Oliva, Principal and Managing Director of Gensler’s Tampa office. 

“We are taking full advantage of Park Tower’s location across from the Tampa Riverwalk,” said Larry Feldman, Chief Executive of Feldman Equities LLC.  “The removal of high perimeter knee walls and installation of stunning glass storefronts with bright lighting will immediately announce the entrance and make it inviting to the streetscape.” 

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

City Office REIT, Inc.
Anthony Maretic, CFO
+1-604-806-3366



Berger Commercial Realty Secures 71,000 Square-Feet in Lease Transactions for Landlords in Broward and Palm Beach Counties



Judy Dolan
FORT LAUDERDALE, FL – Berger Commercial Realty/CORFAC International brokers recently secured 71,696 square-feet in lease transactions on behalf of landlords in Broward and Palm Beach counties.

Executive Airport Business Center

Senior Vice President Judy Dolan and Senior Sales Associate Jonathan Thiel represented TCPH Broward, LLC in the lease expansion of 9,546 square-feet of office space to Nagelbush Mechanical, Inc. at Executive Airport Business Center.

Located at 5101 N.W. 21st Ave. in Fort Lauderdale, Executive Airport Business Center is a 73,130-square-foot, class-A business park situated on a 6.09-acre lot across from Fort Lauderdale Executive Airport.

Palm Crossing Central


Senior Vice President Keith Graves represented SPG Palm Crossing, LLC in the lease renewal of 6,784 square-feet of flex space to Strictly Technology, LLC at Palm Crossing Central. Located at 5381 N.W. 33rd Ave. in Fort Lauderdale, Palm Crossing Central is a newly renovated, multi-building, campus-style business park featuring ample parking, proximity to I-95 and Florida’s Turnpike, and flexible floorplans for office, flex and warehouse space.

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



Home Flipping Loan Volume Rises to Nine-Year High in Q1 2017 as Average Flipping Returns Decline for Second Straight Quarter

 

Daren Blomquist
IRVINE, CA — ATTOM Data Solutions, curator of the nation’s largest multi-sourced property database,  released its Q1 2017 U.S. Home Flipping Report, which shows that 43,615 single family homes and condos were flipped — sold in an arms-length transfer for the second time within a 12-month period — nationwide in the first quarter of 2017, down 8 percent from the previous quarter and down 6 percent from a year ago to the lowest number of homes flipped since Q1 2015 — a two-year low.
  
Home flips in Q1 2017 accounted for 6.7 percent of all single family home and condo sales during the quarter, up from 5.8 percent in the previous quarter and unchanged from a year ago.

“The business of financing for home flippers continued to grow in the first quarter of 2017 even as the home flipping rate plateaued compared to a year ago and average home flipping returns decreased for the second consecutive quarter,” said Daren Blomquist, senior vice president at ATTOM Data Solutions.

“Home flippers financed an estimated $3.5 billion in purchases for homes flipped during the quarter, up from $3.3 billion in the previous quarter and up from $2.4 billion a year ago to the highest level since the fourth quarter of 2007 — a more than nine-year high.”

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

Jennifer von Pohlmann
 Office: 949-502-8300 ext 139

HFF arranges $180 million in financing for One Congress Street and Government Center Garage in Boston, MA



One Congress Street and Government Center Garage, Boston, MA

 
John Fowler
BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announced the firm has arranged $180 million in financing for One Congress Street and the Government Center Garage, an 11-story mixed-use asset comprising a 1,960-space parking garage with 202,854 square feet of office space and 23,212 square feet of retail space.

HFF worked on behalf of the borrower, a joint venture between National Real Estate Advisors, LLC and its Boston-based development partner, The HYM Investment Group, LLC, to secure the short-term, floating-rate loan through Oxford Properties Group. 

The property is centered among many of Boston’s most popular neighborhoods and destinations, including the Financial District, TD Garden, Faneuil Hall Market District, the Rose Fitzgerald Kennedy Greenway, North End, West End and Beacon Hill.

 The property draws a diverse set of parkers ranging from commuters to event attendees to residents seeking overnight parking. This location also offers immediate access to entrance ramps for Interstate 93 as well as two on-site subway lines (MBTA Green Line and Orange Line), providing connectivity to greater Boston.


Jennifer Keller

The property is also the site of Bulfinch Crossing, a 2.9 million-square-foot mixed-use development project that will consist of residential, office, hotel and retail uses. 

Led by the borrower, this project will contribute to a transformation of the neighborhood and provide an additional long-term source of demand for Government Center Garage.  Bulfinch Crossing’s first phase, a 46-story luxury residential tower, broke ground earlier in 2017.


Riaz Cassum
The HFF debt placement team was led by executive managing director John Fowler, senior managing director Riaz Cassum, director Jennifer Keller and associates Xave Jacoby and Chris Thomas. 

The legal team working on the financing, restructuring and land use matters consisted of four firms:  Difede Ramsdell Bender PLLC and Goulston & Storrs represented the borrower and Milbank, Tweed, Hadley & McCloy LLP and DLA Piper represented the lender.
  
“Over the next 10 years, the property will be the location of one of the largest and most exciting mixed-use developments in Boston, while providing unprecedented demand for parking,” Cassum said.  “This financing represents the first step in a long-term development plan and the formation of a strategic lending relationship.”

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


Kristen Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617-848-1572 | cell 617-543-4873 | www.hfflp.com



HFF secures $22.25 million acquisition financing for 288-unit apartment community in Port Richey, FL


The Lakes at Port Richey Apartments, Port Richey, FL


Elliott Throne
MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $22.25 million in acquisition financing for The Lakes at Port Richey, a 288-unit, garden-style apartment community in Port Richey, Florida.

Working exclusively on behalf of Agora Capitol Partners Inc., HFF placed the 10-year, floating-rate loan with Freddie Mac’s CME Program.  The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.

The Lakes at Port Richey features 24, two-story buildings totaling 264,168 rentable square feet with a variety of five one-, two- and three-bedroom layouts. 

The property has been recently renovated with common area enhancements and interior upgrades to select units, including the addition of faux granite countertops, raised panel cabinet doors, new appliances and faux wood plank flooring. 

Community amenities include a swimming pool with cabanas, fitness center, dog park, playground, clubhouse, business center, internet café and coffee bar.  The Lakes at Port Richey is located on approximately 23.75 acres at 8228 Chasco Woods Boulevard less than two miles east of U.S. Highway 19, which is one of the main north-south thoroughfares in Central Florida’s Pasco County.  The property is 98 percent leased.


The HFF debt placement team was led by managing director Elliott Throne.

“The borrower utilized its local area expertise to acquire another great asset that will complement their nearby existing holdings,” stated Throne.

 “Freddie Mac provided a very attractive, low-rate, flexible financing that allowed the borrower to acquire the asset, complete additional property enhancements, and position the property well for the next several years.”

During the first quarter of 2017, HFF closed 197 deals totaling more than $7.4 billion in multi-housing transactions across the country.

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

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

Saturday, June 10, 2017

Bull Realty Brokers $5 Million Retail Center in Peachtree City, GA

. 
Will Young
ATLANTA, GA – Will Young, an Associate Broker with the National Retail Group at Bull Realty, brokered the sale of “Wisdom Pointe” retail center totaling 22,475 SF in Peachtree City, GA. The sale closed on May 26th for $5,050,000 ($224.7/ SF) at a 7.2% cap rate.

Built in 2003, Wisdom Pointe was 100% occupied at the time of sale. The center has a varied mix of tenants – nine in total – including Mellow Mushroom, Noche, Sushi Tomi, Grinds and Wines and Tavern on 74.

The property was exclusively listed by Will Young, who represented the seller, Northgate-Wisdom Pointe, LLC. The buyer, JW Wisdom Pointe, LLC, was represented by Brian Lane with Shane.

“Investors are willing to pay a premium for quality retail centers located both in and around the affluent Peachtree City Submarket, which has very strong demographics and recently has experienced substantial growth,” said Young.

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

Melissa Henry
Communications Manager
Bull Realty, Inc. 
404-876-1640 x 110
BullRealty.com
CREshow.com

ATLCREshow.com

HFF closes $19.3 million sale of industrial facility in the Otay Mesa submarket of San Diego, CA

                                            
2055 Dublin Drive Industrial Property, South San Diego, CA
                                                                                       (Photo by Bill Robinson Photography)


Nick Frasco
SAN DIEGO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $19.3 million sale of a 205,800-square-foot, fully-leased industrial facility in south San Diego within close proximity to the Otay Mesa Port of Entry at the U.S./Mexico international border.

HFF marketed the property on behalf of the seller.  STAG Industrial, Inc. purchased the asset free and clear of existing debt.

Situated on 11.65 acres, 2055 Dublin Drive is an industrial / manufacturing building that is fully leased to three tenants: Honeywell International, Inc.; Cubic Corporation; and SigmaTron International, Inc. 

The building features 24-foot clear heights, 29 loading doors and an above-standard 2.0:1,000 parking ratio. The facility is 1.5 miles from the privately operated Otay Mesa Cross Border Xpress bridge and 4.7 miles from the Otay International Border crossing into Tijuana, Mexico.  Additionally, the property is just off the Otay Mesa Freeway and has access to Interstates 5, 8, 15 and 805. 
    
The HFF investment sales team representing the seller was led by director Nick Frasco and senior managing director Nick Psyllos.


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


NAIOP South Florida to Host “Corporate Cache” Panel of Boca Raton Executives June 22 in Boca Raton, FL


Leslie Daley

FORT LAUDERDALE, FL  – NAIOP South Florida, a Commercial Real Estate Development Organization, will host panel discussion “Corporate Cache: Boca Raton’s Business Stature Surges” on Thursday, June 22 from 5 p.m. to 7:30 p.m. at Lynn Financial Center, located at 1905 N.W. Corporate Boulevard in Boca Raton.  The panel will start promptly at 5:30 p.m. 

In partnership with the City of Boca Raton’s Office of Economic Development, NAIOP South Florida has assembled a C-suite panel of executives to discuss what attracted their companies to Boca Raton, what has made the city a corporate “it” spot and what the future holds for the region.


Jules Morgan

Panelists include Cosmetic Solutions COO Warren Becker, Orangetheory Fitness CLO Leslie Daley, Canon Solutions America Senior Director of Marketing Eric Hawkinson and Privaira President and CEO Clemens Van der Werf.

“Boca Raton’s corporate landscape now hosts a diverse mix of financial service companies, high-brow corporate headquarters, cutting-edge startups, advanced technology firms and medical organizations,” said NAIOP South Florida Executive Director Jules R. Morgan. “As one job-generating firm follows another, the city is experiencing a surge of metropolitan-style living options as well as office and retail offerings, rapidly creating a new urban setting to serve its 21st century workforce.” 

Warren Becker
Tickets are $50 for non-NAIOP members and $35 for NAIOP members. To register for the event, visit www.naiopsfl.org/events or call 954-990-5116.

NAIOP is a commercial real estate development organization. It provides strong advocacy, education and business networking opportunities and connects its members through a powerful North American network.

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

954-776-1999
Pierson Grant Public Relations
Lexi Robinson, ext. 255


The Astor Companies and ONE Sotheby’s International Realty Unveil Merrick Manor Exclusive Sales and Marketing Team


Merrick Manor, Coral Gables, FL

CORAL GABLES, FL – Pioneering Miami developer The Astor Companies and renowned South Florida Luxury Real Estate firm ONE Sotheby’s International Realty have announced the exclusive sales and marketing team members at Merrick Manor, a luxury residential project rising in the heart of Coral Gables.

The ONE Sotheby’s team overseeing sales at Merrick Manor is led by Regional Vice President of Sales Ivan Ramirez and Sales Director Neybis Sanchez.

Lis Benitez

Ramirez has more than 20 years of experience and sales totaling $2 billion. Sanchez has more than 15 years of South Florida real estate experience working with a wide range of clientele, including top developers, investors, luxury home builders and traditional homebuyers and sellers.

Other ONE Sotheby’s members of the Merrick Manor sales and marketing team include Lis Benitez, Arianna Coltellacci, Enrique del Campo and Fernando Ibanez. ONE Sotheby’s has 11 South Florida offices, including one at 1430 South Dixie Highway in Coral Gables.


Ivan Ramirez
“ONE Sotheby’s has truly assembled a dream team to lead our sales efforts at Merrick Manor,” said Henry Torres, President, CEO and Founder of The Astor Companies. 

“The team is well-equipped to accommodate the strong demand we are seeing from the local market and all over the world. Coral Gables continues to stand out as a premier luxury residential, commercial and cultural destination, with our project located right in the middle of the action.”

Benitez brings significant development sales experience to Merrick Manor. Her project portfolio includes Beach House in Miami Beach, Brickell on the River, Canvas Miami, Hyde Midtown, Mint on the River and SLS Lux Brickell.

A Miami native, Coltellaci has more than 15 years of sales, marketing and branding experience. She specializes in selling condominium and single-family properties priced at $500,000 and up.

With more than 12 years in real estate sales handling property sales, purchases and leases for clients, del Campo also comes to Merrick Manor with extensive experience. His project portfolio includes Canvas Miami, Downtown Doral, Sailboat Cove Townhomes and Terra Beachside Condos.

 
Neybis Sanchez

Ibanez is a Global Estate Agent who has sold thousands of luxury condominium units over the last 25 years. He spent the last two years as an Exclusive Sales Executive at the $1 billion Brickell City Centre development.

Vertical construction is well underway at the 301 Altara Avenue site of the 10-story, 227-residence project. The Mediterranean villa-style building is on track for a scheduled completion during the first quarter of 2019. More than 50 percent of the project is under contract, with prices for remaining units starting from $499,999 and ranging up to $2.5 million.

Units at Merrick Manor range from 574 square feet to more than 3,400 square feet and are equipped with impact-resistant windows and doors. The project also includes 19,000 square feet of prime ground-floor retail space that is experiencing strong demand from prospective retail and restaurant tenants.

Henry Torres
Prominent architecture firm Behar Font & Partners, P.A. designed Merrick Manor’s exterior, with Witkin Hults Design Group providing landscape design. Renowned South Florida-based interior design firm Interiors by Steven G. has continued a longstanding relationship with Astor by designing unit interiors at Merrick Manor. Jaxi Builders of Doral is the project’s general contractor.

Merrick Manor is located just steps away from the luxurious retail destination Shops at Merrick Park. Project amenities include 24-hour valet parking, 24-hour front desk concierge service, a business center with computer-ready desks and multimedia screens for presentations and conference calls, a club lounge on the fourth floor, state-of-the-art fitness center and resort-style pool with barbecue areas and a community area with lounge seating.

Prospective buyers who want to experience the Merrick Manor lifestyle can visit the brand-new Sales Gallery located at 4200 Laguna Street. The 5,000-square-foot Sales Gallery showcases a full model one-bedroom unit with a gourmet kitchen, bathroom, living room and master bedroom designed by Interiors by Steven G.

Fernando Ibanez
For more information, visit www.merrick-manor.com or contact the team at the Merrick Manor Sales Gallery at (305) 779-6870.

 For more information, visit the project Sales Gallery at 4200 Laguna Street, call (305) 779-6870 or email info@merrick-manor.com.




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

BoardroomPR
Todd Templin: ttemplin@boardroompr.com, 954-290-0810
Eric Kalis: ekalis@boardroompr.com, 305-794-5123





Friday, June 9, 2017

Stepp Commercial Completes $2.4 Million Sale of Forty-Ninth Street Apartments in Long Beach, CA


Robert Stepp
Long Beach, CA - Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $2.4 million sale of Forty-Ninth Street Apartments, a 12-unit apartment property located adjacent to the affluent Bixby Knolls neighborhood in Long Beach, Calif.

Principal Robert Stepp and Vice President Michael Toveg of Stepp Commercial represented the seller, PS Realty Holdings, LLC. The buyer, a private investor from Los Angeles.. The property closed at a 5.4 percent cap rate and a price per unit of $200,000.

Built in 1963, the two-story property is located at 30 W. 49th Street. The unit mix includes one, one-bedroom unit, and 11 two-bedroom units. The property offers ample parking, controlled access entry and a laundry facility.

"Forty-Ninth Street Apartments provides the buyer with an ideal opportunity of adding value to the asset by upgrading the units and bringing rents up to market rates. It is one of the nicest properties in the neighborhood." said Stepp.

Toveg added: "What many Los Angeles-area apartment investors may not know is that Long Beach is a non-rent-controlled market which provides the opportunity to realize a solid return by upgrading older product as compared to other areas in the region that are limited by rent control restrictions."

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

Darcie Giacchetto
D.G. Communications, Inc.

949.278.6224

Avison Young brokers $2.28-million sale of historic retail building in South Pasadena, CA


Andrew Berk
Los Angeles, CA - Avison Young, the world's fastest-growing commercial real estate services firm, announced today that it has brokered the sale of a 6,000-square-foot (sf) historic retail building in South Pasadena, CA.

 Located at 1509 Mission Street, the property is fully leased to South Pasadena Music Center & Conservatory. The building was originally built in 1917 for use as a hardware store and was most recently renovated in 2008. The purchase price was just under $2.28-million.

Avison Young's Andrew Berk, a Vice-President based in the company's North Los Angeles office, represented local seller Pasadena-based Little Acorn Properties, as well as the buyer, a South Pasadena-based private investor.

"This was an ideal situation for both buyer and seller," comments Berk. "The local buyer recognized the value of the irreplaceable and historical asset that was entirely retrofitted and impeccably renovated by Little Acorn Properties. The seller was able to free up capital to focus on other redevelopment projects in the area."

1509 Mission Street, South Pasadena, CA


Berk adds: "As the City of South Pasadena develops both a new General Plan and Mission Street Specific Plan, this property is situated in an exceptional and highly sought after location. Additionally, the building is a critical and historic piece of South Pasadena's creative spirit."

The 1509 Mission Street building features a 20-foot ceiling, hardwood floors, exposed wood trusses, brick walls, steel beams and a built out basement. The tenant uses the space to instruct  its 240 music students and includes 11 teaching studios, a drum studio and performance and rehearsal hall space.

South Pasadena's new General and Specific Plans are being created to help guide an even more dynamic, walkable and amenity rich neighborhood that has become a new Gold Line station destination community.


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

Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224

The Preiss Company Continues Strong 2017 First Half with Acquisition of Two Student Housing Communities, Builds on Record 2016 with 5 Deals YTD


Donna Preiss
RALEIGH, NC —Officials of The Preiss Company (TPCO), ranked the nation’s fifth largest, privately-held, student housing owner-operator, announced that it continues to build on its record 2016 growth with the acquisition of Cabana Beach Gainesville and Cabana Beach San Marcos, two student housing communities totaling a combined 2,232 beds for an undisclosed amount.

 The two communities, serving the University of Florida and Texas State respectively, will be renovated and repositioned in their respective markets.

            “These acquisitions with a new joint venture partner play to another one of our core strengths: adding value through strategic upgrades and repositioning,” said Donna Preiss, founder and CEO, The Preiss Company.

“TPCO has a proven record in both in-depth renovation and development.  We’ve overseen more than $30 million in construction/upgrades over the past three years.  Only a handful of student housing owner/operators have the extensive experience and expertise in this sector of our business.”


Located just off the Texas State University campus, the 744-bed Cabana Beach San Marcos sits on 19 acres and provides the latest in student resources.

TPCO plans to upgrade 114 units, totaling 306 beds, and to renovate the community’s clubhouse.

Situated roughly a mile from the campus of the University of Florida, the 1,488-bed Cabana Beach Gainesville is housed on 55 acres.

            TPCO is planning to renovate common areas, as well as units, and expects to makeover the building exteriors with power washing and/or new paint, new fencing, upgraded gutters and new window screens.

With these two purchases, TPCO will own and/or manage approximately 4,500 beds in Florida and more than 5,300 beds in Texas.”

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.tpco.com.

Preferred Apartment Communities, Inc. Announces Acquisition of a Grocery-Anchored Shopping Center in Metro Atlanta, GA Through its Wholly-Owned Subsidiary, New Market Properties, LLC


 
Joel T. Murphy
ATLANTA, GA /PRNewswire/ -- Preferred Apartment Communities, Inc. (NYSE: APTS) ("PAC" or the "Company") announced the acquisition of Rockbridge Village, an approximately 102,432 square foot shopping center located in the Atlanta, GA MSA and anchored by a 68,632 square foot Kroger grocery store. 

Rockbridge Village is strategically located off of Stone Mountain Parkway at the intersection of Rockbridge Road and Five Forks Trickum Road in Gwinnett County.

PAC acquired this asset through its wholly-owned subsidiary New Market Properties, LLC. Joel T. Murphy, President and Chief Executive Officer of New Market said about the acquisition, 

"We are thrilled to partner again with a strong market leader such as Kroger, who has demonstrated their long term commitment to this high volume location by recently completing a major interior renovation."

Mr. Murphy added, "The acquisition of Rockbridge Village increases the size of our retail portfolio to 33 grocery-anchored shopping centers across seven Sunbelt states, consistent with our strategy to acquire well-positioned grocery-anchored shopping centers in suburban Sunbelt markets with strong demographics."


Kroger Supermarket, Rockbridge Village
Shopping Center, Gwinnett County, GA
The Company financed the acquisition utilizing a non-recourse first mortgage loan from The Prudential Insurance Company of America.  

The first mortgage loan is approximately $14.25 million, bears interest at fixed rate of 3.75% per annum and matures on June 6, 2027.  There are no loan guaranties provided by PAC or its operating partnership.

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



Nick Banaszak • The Wilbert Group
1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309
M: 256-457-5384

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Uncover Tales of Zambia’s Tribes and Treasures with Edward Anantara Hotel’s Storyteller

  
Edward Minyoyi

VICTORIA FALLS, ZAMBIA -- Zambia is a country of vibrant African traditions, a land made famous by legendary explorer Sir David Livingstone, the home of iconic Victoria Falls, the mighty Zambezi River and vast national parks thriving with wildlife.

Bringing to life these cultural and natural treasures, Edward Minyoyi is much more than the Guest Relations Officer at the Royal Livingstone Victoria Falls Zambia Hotel By Anantara. Regaling his insider local knowledge and personal tales, Edward plunges guests into the colours, customs and majesty of Zambia through the age-old art of storytelling.

 In a country where tribal stories and traditional practices are passed down from one generation to another, storytelling is an intrinsic part of Zambian daily life, and Edward is a proud narrator.


Victoria Falls
He joined the hotel team in 2001 as a barman. Renowned for his friendly interaction with guests and entertaining local tales, in 2007 he was appointed Guest Relations Officer, and also the hotel’s Storyteller.

A well-loved team member amongst guests, Edward speaks French, Spanish, Russian, Greek, German, Japanese and Afrikaans, and he loves nothing better than meeting world travellers and drawing them into the rich details of his homeland.

Instantly recognisable by his bright traditional attire, theatrical personality and beaming smile, Edward is a member of the Lozi tribe and can be found smartly dressed in his tribe’s ceremonial Siziba costume of a white shirt, skirt, long stockings and red beret.

 Exemplifying the warm hearted, friendly spirit of the Zambian people, Edward describes, “We live a peaceful, harmonious life, all working together within our communities, and I love to explain how our way of life continues to thrive.

For instance when it comes to a wedding, the families of the bride and groom all sit down together and discuss issues relating to their children and respective families, to ensure a prosperous marriage and to live as one big happy family.”

Royal Livingstone Victoria Falls
Zambia Hotel By Anantara.
“I love my job because I’m a jovial person and really enjoy interacting with people from all walks of life”, enthuses Edward. “Zambia has such a rich history, a diverse tribal heritage and many natural wonders that locals have their own stories about. It’s my pleasure to take guests on a storytelling journey at a hotel where they can see, taste and feel it all for themselves.”

At the only hotel that directly overlooks Victoria Falls, the Royal Livingstone Hotel by Anantara offers an incomparable setting to learn about this Natural World Wonder. Known to locals as “Mosi-oa-Tunya” – “The Smoke that Thunders”, this iconic waterfall is awash with myth and legend.

“The Toka-leya people who once resided here worshipped the River Goddess Nyami-nyami living under the falls in times of drought, to pray for heavy rains,” explains Edward. “And my guests’ eyes light up as they hear about the travelling Scotsman, David Livingstone, who arrived in Africa in 1840 as a missionary and physician to become the most famous explorer of the century.

“He was the first European to witness the waterfall and renamed it after his British Queen, Victoria. His escapades feel even more exciting in the resort’s Royal Livingstone Lounge, sipping drinks and swapping stories surrounded by his paintings, books and maps.”

The adventures continue up and close and personal with zebras, impalas, giraffes and monkeys meandering freely about the resort grounds. Inspiring guests with safari and hunting tales, Edward raves about Zambia’s wildlife. “We have 19 national parks and I have many memories about the animals I’ve encountered, from rhinos, elephants, hippos, wilder beast and warthogs, to the incredible number of birds.

Zebras in Zambia
“For those who prefer more peaceful viewing, guests can relax on platforms on the bank of the Zambezi to drink in the sights and sounds of river life, with me as their narrator. 

"As a keen fisherman, I can pass on my knowledge to anglers, like how it’s easier to catch fish during hot season because they come to the surface, the best spots to test their skills against the tiger fish, and how we cook the prize catches for our families.”

For food enthusiasts, Edward dishes up a plethora of fascinating facts about Zambian cuisine. “Guests can tour the resort’s garden for an introduction to the aromas, flavours and medicinal benefits of different herbs, which are also used to treat sickness, such as a herbal steam to cool and relax the body. The stories they hear then come to life as they try traditional Zambian dishes, or head off to the spa to discover local wellness secrets.”

 Anantara is a luxury hospitality brand for modern travellers, connecting them to genuine places, people and stories through personal experiences, and providing heartfelt hospitality in the world’s most exciting destinations. The collection of distinct, thoughtfully designed luxury hotels and resorts provides a window through which to journey into invigorating new territory, curating personal travel experiences.
  

From cosmopolitan cities to desert sands to lush islands, Anantara connects travellers to the indigenous, grounds them in authentic luxury, and hosts them with passionate expertise.

The portfolio currently boasts over 35 stunning properties located in Thailand, the Maldives, Indonesia, Vietnam, China, Cambodia, Sri Lanka, Mozambique, Zambia, the UAE, Qatar and Oman, with a pipeline of future properties across Asia, the Indian Ocean, Middle East and Africa.

For more information on Anantara Hotels, Resorts & Spas, please visit www.anantara.com.

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

Hwee Peng Yeo
Vice President
Glodow Nead Communications
San Francisco • New York • Singapore • Shanghai
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US:415.394.6500 • Asia: 65.9768.6087 •  E: hweepeng@glodownead.com