Trion Properties Expands Portland Portfolio

Max Sharkansky

BEAVERTON, OR – Trion Properties, a private equity real estate firm that specializes in value-add multifamily investments along the west coast, has acquired Bel Aire Court, a 67-unit apartment community in the Portland submarket of Beaverton, Oregon, bringing its multifamily portfolio in the area to a total of 282 units.

This is Trion’s fifth multifamily acquisition in the greater Portland region in just over two years, making the firm one of the most active buyers in this market, according to Max Sharkansky, Managing Partner of Trion Properties.

            “The Portland metropolitan area is one of the strongest and fastest-growing multifamily markets in the nation right now,” says Sharkansky. “The region’s rapid job growth, solid economic fundamentals, and high quality of life are driving resident demand for housing in this market, resulting in long-term growth potential for multifamily investments.”  

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

 

Elisabeth Manville / Katie Kea

Brower, Miller & Cole

(949) 955-7940

emanville@browermillercole.com

                                                    

Marcus & Millichap Brokers $7.2 Million Sale of Surgery Center in Riverview, FL

Krone Weidler

RIVERVIEW, 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 Bay Area Physicians Surgery Center, an 18,708 square foot medical office property located in Riverview, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $7,200,000.

Kimberly Cameron

“The healthcare industry has experienced significant growth over the past several years and the seller captured the opportunity to take advantage of the surgery center’s healthy performance,” says Krone Weidler, first vice president investments in Marcus & Millichap’s Tampa office. “The buyer took advantage of an opportunity to acquire an excellent, well positioned asset to add to their portfolio.”

L.J. Tsunis

Weidler, and L.J. Tsunis, associate in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  The buyer, a REIT, was secured and represented by Kimberly Cameron, senior associate in Marcus & Millichap’s Nashville office. 

Bay Area Physicians Surgery Center is located at 6043 Winthrop Commerce Avenue in Riverview, Florida. The building is occupied by Bay Area Physicians Surgery Center and Florida Urology Partners.

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

                                                         

Contact: Ari Ravi

Regional Manager, Tampa

(813) 387-4700

                                               

Marcus & Millichap Arranges Sale of 70,962-SF Self-Storage Facility in Winston Salem, NC

Michael A. Mele

WINSTON SALEM, NC – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of the Winston-Salem Self-Storage Opportunity, a 70,962-rentable square foot self-storage facility located in Winston Salem, North Carolina, according to Ari Ravi, regional manager of the firm’s Tampa office.

Luke Elliott and Michael A. Mele, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller.  The buyer, a first-time storage owner, was also secured and represented by Mele and Elliott.  Raj Ravi, broker of record in Marcus & Millichap’s North Carolina office assisted in closing this transaction.

Located at 401 Jonestown Road in Winston Salem, the opportunity was newly-constructed in 2014 and opened in 2015. Across two floors, the facility offers 558 climate-controlled units on 1.22 acres for a total of 70,962 net rentable square feet.

The facility has an excellent multitude of amenities, from elevator access to a coffee bar, laptop station, conference room, multiple loading points and a model unit, with brand new heating, air conditioning and exterior painting. Situated in the Centre Stage at Jonestown shopping center, the facility has great signage and highway visibility with ease of access to U.S. Highway 421, Interstate 40 and U.S. Highway 158.

“This self-storage facility was a conversion of an existing retail building. I predict that we will be seeing a lot more of these projects in the future. There was considerable upside in this project with the facility still leasing up,” says Mele, senior managing director investments.

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

Raj Ravi

Regional Manager, North Carolina

(704) 831-4650

NAI Realvest Negotiates New Retail Leases at Westmonte Place in Altamonte Springs, FL

Kimberly Manson

ORLANDO, FL  – NAI Realvest’s Senior Vice President Jeffrey Tanner and Director of Retail / Investment Sales Kim Manson recently negotiated two lease agreements for retail space totaling 2,892 rentable square feet on behalf of Landlord Westmonte Plaza, Inc. in Altamonte Springs.

Kinetic Fitness 110 LLC leased Suite 1124 with 1,600 square feet at 195 S. Westmonte Drive.  The new tenant was represented by Brigette Johnson of FBX Commercial. 

Manson and Tanner also brokered a new lease agreement with AP Design and Casting for Suite 1102 with 1,292 rentable square feet in Westmonte Place.  

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

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

  

NAI Realvest Negotiates over 22,200 Square Feet of Industrial Leases in May-June at South Park Business Center in Orlando, FL

Tom R. Kelley II

ORLANDO, FL– NAI Realvest negotiated four new industrial leases in June totaling 9,910 square feet at Orlando’s South Park Business Center, 8600 Commodity Circle and in May leased 12,293 square feet comprising five new leases, totaling over 20,200 square feet in a two-month period.

Tom R. Kelley, II, CCIM, a principal NAI Realvest negotiated all the transactions on behalf of the landlord South Park, LLC.     

The four new June tenants who signed on at South Park Business Center are Newo Enterprises with 4,010 square feet; The Aventus Group, 2,240 square feet and Tiregraphics, Inc. and Cloud of Goods, each leasing 1,830 square feet. 

The five new tenants who leased in May, at South Park Business Center are Special Care Medical of South Carolina, Inc. who leased 3,531 square feet; Lexington Pool & Maintenance, 3,015 square feet; New Sense Productions, Inc., 2,087; Full Circle Productions and American Constructors who each leased 1,830 square feet.   Kelley represented Miami-based Landlord South Park, LLC.

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

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

  

WoodSpring Hotels Promotes Dawn McGowan to Vice President of Channel Sales and Market Sales

Dawn McGowan

WICHITA, KS,  July 6, 2017—WoodSpring Hotels, the nation’s fastest-growing value extended-stay hotel company, today announced that it has promoted Dawn McGowan to vice president of channel sales and market sales. 

In her new role, McGowan will be responsible for planning, developing and growing business-to-business, third-party customer partnerships and leading the brand’s regional directors of field sales to increase profitable hotel revenue. 

Gary DeLapp

“During her short tenure with us, Dawn already has made significant contributions to our overall sales organization, particularly within our business-to-business, third-party channels, by driving significant revenue and improving sales and business retention,” said Gary DeLapp, WoodSpring President and CEO.

 “She works wonderfully with customers and delivers timely service.  Furthermore, she has constantly and consistently expanded her own scope of work, recently adding training, CRM reporting/analysis and operational sales process development.  We are confident she will bring the same enthusiasm and work ethic to her new role.”

Prior to her promotion, McGowan was director of channel sales with WoodSpring Hotels. Previously, she was regional director of global/national accounts for La Quinta Inn & Suites.

 McGowan also successfully led the start-up and development of JADE Event Management, Inc., whose clients included numerous Fortune 500 leaders.  She led sales efforts for such prestigious hotels and resorts as the Greenleaf Golf & Tennis Resort and the Hilton Tampa Airport, both in Tampa Bay, Fla., and the Bayfront Hilton in St. Petersburg, Fla.

 McGowan is a Certified Travel Executive (CTE) and former chairperson of the Sales and Marketing Tampa Bay Chapter.  She also served a decade as a board member of the MPI Tampa Bay Chapter.

Wendy Hoekwater

“Dawn’s fervor for her job is infectious and has had a positive impact on the entire sales organization,” noted Wendy Hoekwater, WoodSpring Chief Marketing Officer.  “Her desire to take on increasingly sophisticated new roles makes her both an ideal associate and team leader, one who demonstrates by example.

“This promotion recognizes the hard work and dedication Dawn has displayed as the WoodSpring Hotels brand continues its aggressive growth plans.”

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

Erin Black, Director, Brand and Corporate Communications

eblack@woodspring.com

www.woodspringfranchise.com.

Or

Chris Daly

President

Daly Gray Public Relations Inc.

620 Herndon Parkway, Suite 115 | Herndon, VA 20170

Main: 703-435-6293

Mobile: 703-864-5553

chris@dalygray.com

www.dalygray.com

Griffin-American Healthcare REIT IV Acquires Initial Tranche of Eight-Facility Northern California Senior Housing Portfolio

 

Stefan Oh

SAN FRANCISCO, CA – American Healthcare Investors and Griffin Capital Company, LLC, the co-sponsors of Griffin-American Healthcare REIT IV, Inc., announced the REIT has completed the acquisition of the first of two tranches of the total 327-unit, eight-facility Northern California Senior Housing Portfolio, with properties acquired in the first tranche located in the Northern California communities of Belmont, Fairfield, Menlo Park and Sacramento.

The second tranche, comprised of senior housing facilities in Napa and Sonoma, California, is expected to close later this year, but is subject to customary closing conditions and the satisfaction of other requirements as detailed in the respective acquisition agreements, and therefore, no assurances can be given that the second tranche will close within this timeframe or at all.

"The addition of the initial tranche of Northern California Senior Housing Portfolio further diversifies the growing Griffin-American Healthcare REIT IV portfolio both geographically and from an asset mix perspective,” said Stefan Oh, executive vice president of acquisitions for American Healthcare Investors and Griffin-American Healthcare REIT IV.

 “It also strengthens our relationship with Colonial Oaks, which also leases a senior housing portfolio in Lafayette, Louisiana owned by the REIT.”

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

Damon Elder

Spotlight Marketing Communications

(949) 427-5172 ext. 702

 damon@spotlightmarcom.com

HFF closes $8.7 million sale of 78,319-square-foot warehouse facility in the Charlotte, NC MSA

 

Caldwell Building, Huntersville, NC

 

Chris Norvell

CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $8.7 million sale of the Caldwell Building, a 78,319-square-foot, light manufacturing and distribution facility in the Charlotte-area community of Huntersville, North Carolina.

HFF marketed the property on behalf of the seller, Bank of America, N.A., as Trustee, and One Liberty Properties, Inc. purchased the asset as of May 25, 2017.

The institutional-quality building is leased to Forbo Siegling through May of 2025 and is situated on 18.58 acres fronting Herbert Wayne Court located within The Park – Huntersville. 

The Park – Huntersville lies within Charlotte’s North industrial submarket and has easy access to a network of major thoroughfares, including Interstate Highways 77, 485, 85 and 40, which provide connectivity to the entire Southeast U.S.

The HFF investment sales team representing the seller was led by senior managing directors Chris Norvell and Ryan Clutter and associate director Patrick Nally.

 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

http://1liberty.com.

HFF closes $57 million sale of and arranges $31 million financing for 54-unit apartment property in Manhattan’s East Village

 

200 East 11th Street, East Village, Manhattan, NY

Jeff Julien

NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $57 million sale of and arranged $31 million in financing for 200 East 11th Street, a 54-unit, newly renovated apartment property in Manhattan’s East Village.

HFF marketed the property on behalf of the seller, Benchmark Real Estate Group, and procured the buyer, Shorenstein Company LLC.  Additionally, HFF secured acquisition financing on the new owner’s behalf through Helaba.

200 East 11th Street is located on the corner of East 11th Street and 3rd Avenue near multiple transportation options and numerous highly sought-after retail, entertainment and dining amenities.

 The 12-story, 53,000-square-foot building consists of 54 one-, two- and three-bedroom residential units, all of which are fair market.  Apartment amenities include new windows, oak flooring, in-unit washers and dryers and new heating/cooling units.

 The property also features a rooftop deck with lounge space and a recently constructed, three-story amenity building that houses a new lobby, gym and yoga studio.

Rob Hinckley

The HFF investment sales team was led by managing directors Jeff Julien and Rob Hinckley and associate director Steven Rutman.

HFF’s debt placement team was led by director Geoff Goldstein, managing director Scott Aiese and associate Rory Shepard.

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

http://benchmarkrealestate.com/

HFF closes sale of Daytona Beach, FL beachfront hotel

Hampton Inn Daytona Beach/Beachfront Hotel, 
                                      1024 North Atlanta Avenue, Daytona Beach, FL                                                   
                                                                                                              (Photo by Troy Morgan)

                                                                                                 

ORLANDO, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of the Hampton Inn Daytona Beach/Beachfront, a 90-room, select-service beachfront hotel in Daytona Beach, Florida

HFF marketed the property on behalf of the seller, Humphrey Realty Corp.  Driftwood Acquisitions & Development LP, an affiliate of the hotel management company Driftwood Hospitality Management, LLC, purchased the asset free and clear of debt and unencumbered of management.

Alexandra Lalos

Formerly known as the Ocean Sands Hotel, the eight-story Hampton Inn Daytona Beach/Beachfront underwent a complete renovation and brand conversion to a Hampton Inn in 2013. 

The hotel features a heated outdoor pool with pool bar, pool deck, whirlpool, fire pit and children’s splash pad; fitness center that overlooks the pool deck and Atlantic Ocean; business center; on-site convenience store; and 266 square feet of meeting space. 

Located at 1024 North Atlantic Avenue, Hampton Inn Daytona Beach/Beachfront is directly on the sand of Daytona Beach, one of the most frequently visited coastal destinations on the East Coast.

Preston Reid

 The hotel is proximate to popular Daytona destinations, including Daytona International Speedway, Daytona Beach Boardwalk, Ocean Center convention center and the LPGA International Golf Course.

The HFF investment sales team representing the seller was led by associate directors Preston Reid and Alexandra Lalos and senior managing director Michael Weinberg.

“The seller executed a fantastic overhaul to this hotel, converting it from a capital-starved independent hotel to one of the most powerful brands around in the Hampton Inn by Hilton,” Weinberg said.  “This made it very desirable to a competitive field of buyers.”

  

"There continues to be a significant amount of equity and debt capital available for premium-branded, select-service assets in Florida, especially in high growth markets like Daytona Beach," Reid added.

  

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.driftwoodhospitality.com

.

Lincoln Property Company Southeast Completes $3.5 Million Sale of Communications Drive Office and Industrial Building in Norcross, GA

Chip Sipple

ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) has announced it has completed the sale of a 56,600-square-foot office and industrial building in a prime location at 4261 Communications Drive in Norcross.

 Chip Sipple and Jeff Henson of Lincoln represented the seller, Flooring International Distribution Inc.

Young Georgia Properties LLC bought the building for $3.5 million. The previous owner decided to downsize into a space that better fit its operations. The new owner has moved in.

“This building offered a superior location in Atlanta’s largest industrial market in a great business park setting,” said Lincoln’s Sipple. “With a functional floor plan, top-of-the line features and a large warehouse, this Communications Drive building represented a tremendous opportunity for the new owner.” 

Jeff Henson

The property consists of 11,597 square feet of office and showroom space with an open floorplan and a mixture of private offices and open work areas, as well as a 44,389-square-foot warehouse featuring 24-foot clear heights and drive-in, dock-high loading.

Additionally, the 4.75-acre property includes ample surface parking, an attractive landscaped environment and easy access to major roadways including I-85 and I-285.

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

Gary Tanner

The Wilbert Group

678-677-9754

gtanner@thewilbertgroup.com

JLL sells Phoenix Logistics Center portfolio for Overton Moore for $18.4 million

Phoenix Logistics Center, Phoenix, AZ

 

Bo Mills

PHOENIX, AZ – Strong market performance and continued confidence in Phoenix’s industrial market future has spurred the $18.4 million sale of Phoenix Logistics Center – sold this week by the Phoenix office of JLL on behalf of a joint venture between Overton Moore Properties and PCCP LLC, and acquired by Colony Northstar.

JLL Managing Directors Bo Mills and Mark Detmer, and Vice President Ryan Sitov represented the property sellers.

“The Phoenix Logistics portfolio represents a quality multi-tenant industrial asset that is difficult to replicate in today’s market,” said Jason Hines, Vice President of Overton Moore Properties. “We are pleased with the sale and the overall execution of our value-add strategy in the Phoenix industrial market.”

“Phoenix Logistics Center is institutionally maintained, with an extremely strong credit tenancy and the potential to add value through the development of two acres of excess land,” said Mills. “It is an exceptional opportunity that brings together all of the attributes that an investor looks for when seeking a Class A industrial asset.”

Mark Detmer

Phoenix Logistics Center totals 245,890 square feet in two buildings located at 420 S. 53rd Ave. and 1002 S. 56th Ave. in Phoenix’s Southwest submarket. 

Both buildings have been recently refurbished with $1.75 million in capital improvements, including new roofing, HVAC, T-5 lighting, paint, landscaping and power and plumbing upgrades. 

The buildings sit on 13.8 acres, including two acres of excess land that can be developed, paved or used to expand the 53rd Avenue building.

Each building can accommodate single- and multi-tenant configurations, with dock-high and grade-level loading, and 24’ to 30’ clear heights. The portfolio is currently 91.3 percent leased to five quality tenants, including long-term anchor tenant Blue Line Foodservice Distribution, a division of Little Caesar Enterprises.

Phoenix Logistics Center is located 1.9 miles from the Loop 101 and 2.3 miles from I-10, offering direct access to all points in metro Phoenix, as well as key distribution routes to California, the Southwest and beyond.

According to JLL, industrial vacancy rates in Southwest Phoenix have declined from 20.4 percent in 2009 to 11.4 percent as of year-end 2016. Asking rental rates have increased an average of 4.5 percent every year since 2011. These factors, combined with robust population growth, employment growth and housing recover, have increased demand for available space across the local industrial market.

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

 Stacey Hershauer

 

 Phone:

 +1 480 600 0195

   

Email:

 stacey@focusaz.com

www.jll.com

www.jll.com/phoenix.

Stepp Commercial Completes $2.16 Million Sale of Sixth Street Apartments inLong Beach, CA

Robert Stepp

Long Beach, CA -- Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $2.16 million sale of Sixth Street Apartments, a nine-unit apartment property in Long Beach, Calif.

Principal Robert Stepp of Stepp Commercial represented the seller, Northpoint Realty from Long Beach, as well as the buyer, VMG Properties from Santa Monica. The property closed at a 4.5 percent cap rate and a price per unit of $240,000.

"This property was purchased as a value-add opportunity and the buyer is planning on making significant renovations to improve the property," said Stepp. "As the Long Beach market continues to strengthen, the demand for well-located, improved rental units increases."

Built in 1961, the two-story property is located at 2320 E. 6th Street and consists of eight two-bedroom units and one one-bedroom unit.

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

Darcie Giacchetto

D.G. Communications, Inc.

949.278.6224

Peachtree Hotel Group (PHG) Acquires 96-Suite TownePlace Suites Gainesville Northwest in Gainesville, FL

 

Brent LeBlanc

GAINESVILLE, FL — Officials of Peachtree Hotel Group (PHG), one of the nation’s fastest growing hotel investment and management platforms acquired the 96-suite TownePlace Suites Gainesville Northwest in Fla., from Gainesville Investment Lodging, LLP, a subsidiary of 3H Group, Inc., for an undisclosed sum.  

The transaction was brokered by Hospitality Real Estate Counselors (HREC).

Located at 7451 West Newberry Road just four miles from The Swamp and Ben Hill Griffin Stadium, the four-story, extended-stay hotel provides spacious suites with fully equipped kitchens and high-speed Internet access.  

Hotel amenities include a 24-hour workout facility, outdoor pool, 570 square feet of meeting space, complimentary breakfast and pet-friendly policies.

PHG continues to seek additional acquisition and development opportunities.  To discuss additional growth possibilities, contact Brent LeBlanc at 713-666-2544 or bleblanc@peachtreehotelgroup.com.

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

Chris Daly, media

(703) 435-6293

chris@dalygray.com

Approximately 200 Alternative Direct Investment Professionals Expected at ADISA’s Due Diligence Forum in Chicago, IL

Kelly Shue

CHICAGO, IL -- Conference highlights include legislative and regulatory updates on the DOL fiduciary rule and tax reform, a keynote address by the University of Chicago’s Dr. Kelly Shue, and a deep dive into due diligence, liquidity events and more

What: ADISA Due Diligence Forum

When: July 13-14, 2017

Where: The Fairmont Millennium Park, Chicago

Program Notes: ADISA’s Due Diligence Forum is an alternative direct investment educational and networking opportunity that will be attended by approximately 200 broker-dealers, registered investment advisors, family offices, due diligence professionals, compliance officers, product sponsors and industry affiliates.

The association was founded in 2003 and has approximately 4,500 members who are key decision makers, representing more than 220,000 professionals throughout the nation – including sponsor members who have raised in excess of $200 billion in equity and serve more than 1 million investors.

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

Jill Swartz Julie Leber

Spotlight Marketing Communications Spotlight Marketing Communications

(949) 427-5172, ext. 701 (949) 427-5172, ext. 703

jill@spotlightmarcom.com

julie@spotlightmarcom.com

http://www.adisa.org/events/2017-due-diligence-forum.