Investra Capital Group Ltd and Hospitality Ventures Management Group (HVMG) Complete Joint Venture Acquisition of 12 Hotel Portfolio

Mobeen Jassat

ATLANTA, GA —Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, in conjunction with Investra Capital Group Ltd through its subsidiary Investra Capital Inc, a private equity real estate investor and asset manager, announced the completed joint venture acquisition of a 12-hotel portfolio totaling 1,465 rooms comprised of Marriott- and Hyatt-branded hotels across the Southeastern, Southwestern and Midwestern United States.  HVMG also will operate the entire portfolio.

“As we grow our footprint into the U.S., our acquisition philosophy aligns with HVMG’s, as we both remain focused on assets in strong secondary and tertiary markets flanked by strong corporate, government, healthcare and university demand generators,” said Mobeen Jassat, Investra Capital Inc, CEO. 

 “With their successful industry track record in maximizing asset value and seasoned acquisition and operation expertise, we are confident HVMG will act as the ideal stewards of these hotels as they quickly achieve improved performance as the respective segment leaders in each sub-market.”

Zaid Randeree

“The acquisition of these 12 assets brings Investra’s portfolio to a total of 20 hospitality assets across the U.S. since its initial acquisition in 2014,” said Zaid Randeree, Investra Capital Group Limited, CEO. 

“This also is in line with Investra’s strategy of steady, focused acquisition and growth of assets in the select service hospitality sector across the USA.”

“In the first few months of 2018, HVMG has added 16 hotels totaling 2,611 rooms to its portfolio of full- and select-service and extended-stay hotels across the United States, putting us on track for an historic growth year,” said Robert S. Cole, president and CEO, HVMG. 

Robert S. Cole

“We continue to seek best-in-class partners like Investra as we selectively target hotels that can benefit from repositioning and/or capital improvements located in top tier markets.  Our goal remains to be the most sought-after operator, employer and trusted partner in the hospitality industry.”

The hotels include:

Name	Location	Room Count
Courtyard Atlanta Marietta I-75 North	Marietta, Ga.	146
Courtyard Atlanta Norcross Peachtree Corners	Norcross, Ga.	131
Courtyard Atlanta Marietta Windy Hill/Ballpark	Atlanta, Ga.	127
Courtyard Austin University	Austin, Texas	198
Fairfield Inn & Suites Austin University	Austin, Texas	63
Courtyard Dallas Addison Midway	Addison, Texas	145
Hyatt House Dallas Richardson	Richardson, Texas	130
Courtyard Grand Rapids Airport	Grand Rapids, Mich.	84
Courtyard Detroit Southfield	Southfield, Mich.	147
Fairfield Inn & Suites Indianapolis Airport	Indianapolis, Ind.	86
Residence Inn Indianapolis Airport	Indianapolis, Ind.	95
Courtyard Cleveland Beachwood	Beachwood, Ohio	113

“With these additional 12 assets, our portfolio now contains a combined total of 25 Marriott- and Hyatt-flagged hotels across the United States,” Cole noted.  “We are very familiar with each of these brands, as well as the unique demands of each of the regions and traveler types, allowing us to improve bottom lines and guest satisfaction scores expeditiously.”

 For more information, please contact:

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

www.hvmg.com 

NAI Realvest Brokers New Leases at Orlando-Sanford International Airport totaling 20,937 SF of Industrial Space

Orlando-Sanford International Airport, Sanford, FL

Paul Partyka

Orlando /Sanford, FL --- NAI Realvest recently closed on two new long-term leases for a total of  20,937 rentable square feet of industrial space at Orlando-Sanford International Airport in Sanford. 

NAI Realvest Partner Paul P. Partyka, CCIM, MICP and Land Specialist and Associate Rachel Saunders, MBA represented landlord Sanford Airport Authority in both transactions.     

International engineering and construction company GLF Construction leased the 19,437 square foot industrial facility at 650 29^thSt. at Carrier Ave.   GLF specializes in heavy civil and marine works, major bridge structures and historical renovation.   

Rachel Saunders

Partyka and Saunders also completed a lease agreement on behalf of the SAA for Suite 515-5 with 1,500 square feet at 2824 S. Mellonville Ave.  Davis Customs, a family-owned metal repair shop specializing in restoration and fabrication is the new tenant.  

 For more information, please contact:

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

Bella Terra, Reimagined: DJM CAPITAL PARTNERS Creating Garden Area for Dining, Entertainment and Gathering

Rendering of Planned Garden at Bella Terra, Huntington Beach, CA

HUNTINGTON BEACH, CA — DJM Capital Partners, Inc., owners and operators of Bella Terra, one of Orange County’s premier lifestyle destinations, announced that construction has begun to re-imagine the project’s focal public space, bringing a residential scale of design and creating Huntington Beach’s biggest and best “backyard,” designed for dining, entertainment, and well-deserved family time for Bella Terra guests. 

Set for November 2018 completion, the reinvented space — The Garden at Bella Terra —  is designed with inspiration from Southern California’s Spanish roots, with additional design cues taken from Huntington Beach’s casual, informal, but aspirational lifestyle.

The reimagined public space replaces the former amphitheater and will welcome Bella Terra guests daily with epicurean fare, alfresco dining, an open-air beer and wine garden, free Wi-Fi, concert stage, children’s area, and feature inviting seating options and conversation areas — all in a lushly landscaped setting that feels like the backyard you’ve always dreamed of! 

Rendering of Planned Garden at Bella Terra, Huntington Beach, CA

“Our goal in reimagining the amphitheater area was to create an atmosphere that enhances Bella Terra’s well-established position as a central and welcoming destination for shoppers, diners and the community,” said D. John Miller, CEO, DJM Capital Partners, Inc.

D. John Miller

“Bella Terra has come a long way since the days of the Huntington Beach Mall; this is the next chapter in a storied project that we feel very fortunate to have played a role in. We thank the community of Huntington Beach for their partnership, and hope that the community will think of this new area as their backyard, where they will create many more memorable moments.”

Highlights of the reimagined public space, The Garden at Bella Terra:

·         The Garden — A beer and wine garden inspired by the dining al fresco culture of Spain and throughout Europe, with a Southern California vibe. Underneath a grand Sycamore tree, festoon lighting will set The Garden aglow with its communal tables, private dining experiences, craft beer, fine wine, epicurean treats, and new quick-serve restaurants. 

·         A rustic stage area is being constructed under a wood pergola wrapped with vines in front of the towers recently designed lantern wall. The ideal venue for live music and entertainment, the stage area will provide a wonderful diversion between shopping an movies, and a perfect backdrop for dining alfresco. 

·         Grassy Lawn — this area has been designed with various elevations to provide infinite opportunity for kids’ imagination and creativity. 

All Bella Terra businesses will remain open during the transformation of the amphitheater into The Garden at Bella Terra.

 For more information and updates, please visit the Bella Terra website at www.bellaterra-hb.com. 

 For more information, please contact:

Miki Akil

Kitchen Table Marketing + PR

832.260.4414

miki@kitchentablepr.com

www.kitchentablepr.com

City of College Park, GA Selects Ackerman & Co.to Broker Sale of 320-Acre Site for ‘Airport City College Park’ Project near Hartsfield-Jackson Atlanta International Airport

Steve Langford

ATLANTA, GA – Ackerman & Co. announced the City of College Park has selected the firm, as exclusive broker, to sell land within a 320-acre site that will become Airport City College Park.

The planned  $1-billion, mixed-use development will leverage the site’s proximity to Hartsfield-Jackson Atlanta International Airport to offer a destination location featuring a mix of Class A office and medical office space, specialty retail, entertainment venues, high-end hotels, and multifamily and single-family residential.

Steve Langford, senior vice president of Investment Sales at Ackerman & Co., will market the land parcels for sale on behalf of the City of College Park. AAC Group Inc. has been selected as the master developer and Wakefield Beasley will serve as the project architect.

Artie Jones III

“We’re proud to be selected by the City of College Park as the broker for this transformative project and are excited to team with the City to help it create a wide-ranging mix of development that will benefit the College Park community and the Atlanta region as a whole, a mission shared by Aerotropolis Atlanta,” said Langford.

The site is located in the heart of Aerotroplis Atlanta, a development zone surrounding the Airport. Aerotropolis Atlanta has already attracted a significant amount of high-profile development, including the new headquarters for Porsche Cars North America.

“The appeal of this project will be far-reaching and should attract end-users locally, nationally and internationally. In addition to corporate headquarters, I am targeting technology, hospitality and medical firms as well as specialty retail and chef-driven restaurants for the development,” added Langford.

Located off Camp Creek Parkway and Main Street in the city of College Park, the project will showcase a number of “smart city” components, including autonomous electric shuttle vehicles, as well as excellent walkability via a network of walking trails and a pedestrian bridge that will connect the project to the Georgia International Convention Center.

Only one mile from the Airport, the project is directly across the street from the College Park MARTA rail station and in close proximity to I-75/I-85 and I-285.

Georgia International Convention Center

Langford will work closely with both AAC Group and City of College Park representatives, including Artie Jones III, director of Economic Development for the City of College Park, in marketing the land for sale.

“As a company that was instrumental in the creation of the Airport South Community Improvement District, Ackerman has demonstrated a strong commitment to boosting economic development in College Park and the Southside of Atlanta, said Jones.

"We look forward to working with Steve Langford and the rest of the Airport City project team to realize the vision for this site.

Now in the master-plan phase, Airport City College Park will feature 4 million square feet of office and medical office, up to 1,000 hotel rooms, and 600,000 square feet of retail and entertainment.

Residential options (up to 1,000 units) will include luxury and affordable apartments, townhomes, senior living residences and single-family homes ranging from $200,000 to more than $1 million.

Rendering of Planned Aerotropolis Atlanta, GA

The 320-acre site is near a number of projects either completed or currently under way within Aerotropolis Atlanta, including the Porsche Experience Center, the Solis Two Porsche Drive Hotel, the Chick-fil-A headquarters & tour, Delta Air Lines headquarters, Delta Flight Museum, a BMW training facility and a new multi-purpose arena that will be home to the Atlanta Hawks G-League Team.

Infrastructure development is slated to begin no later than the end of 2018. For more information about available land in Airport City College Park, contact Steve Langford at slangford@ackermanco.net

 

 For more information, please contact:

Steve Webb (swebb@ACKERMANCO.NET)

 www.ackermanco.com

BKM Capital Partners Acquires $10 Million, 122,000+SF Multi-Tenant Industrial Business Park in East Sacramento, CA Submarket

 

Brian Malliet

          SACRAMENTO, CA – BKM Capital Partners, an institutional fund manager with a niche focus on value-add, multi-tenant light industrial investments, has acquired Expo Centre, a 122,253 square-foot multi-tenant industrial business park near Cal Expo and Downtown Sacramento for $10.1 million.

The seven-building industrial park was acquired off-market and is located in one of the tightest industrial metro markets in all of Sacramento, according to Brian Malliet, CEO and Co-Founder of BKM Capital Partners.

            “This acquisition represents our entry into the Sacramento market, and is located in an A+ infill location in an extremely dynamic industrial submarket,” says Malliet.

Brett Turner

         “The East Sacramento market currently has an industrial occupancy of approximately 96-percent. This is demonstrative of the significant demand throughout the region, which will allow us to strategically position the asset for long-term growth and garner interest from quality tenants over the next several years.”

            Located less than four miles from downtown Sacramento, Expo Centre is currently 81-percent leased with in-place rental rates at approximately 18-percent below market value.

            “Through our integrated property management approach, we will be able to share resources with our newly acquired property in Fremont, and quickly lease remaining vacant space, bring rents up to market value, and improve operational inefficiencies,” explains Malliet.

Multi-Tenant Industrial Park
 near San Francisco, CA

      “This will quickly increase NOI and cash flow for the asset. The diverse portfolio of 32 different tenants across a variety of industries currently at the property also provides limited tenant rollover exposure.”

            BKM Capital Partners plans to implement a series of capital improvements to reposition the property as the market leader in terms of functionality and aesthetic, according to BKM’s Director of Acquisitions, Brett Turner.

“We always look for properties where there are opportunities for significant value creation,” says Turner. “This is a quality asset in a prime location, but is lacking in terms of needed cosmetic improvements and modernization. We plan to update the property with new paint, landscaping, and signage, among other improvements.”

Turner explains, “These capital upgrades will enhance the overall value of the asset, as well as maximize returns to investors and rent appreciation over time.”

The property is located alongside the SR-160 at 1761-1791 Tribute Road in Sacramento, California.  BKM Capital Partners acquired the property from a private syndication managed by Sperry Equities. Palmer Capital represented the seller in the transaction.

           
 For more information, please contact:

Jordan Kruk /Lexi Astfalk

Brower Group

(949) 955-7940

JKruk@brower-group.com

www.bkmcapitalpartners.com

George Smith Partners Secures $45 Million in Financing for Iconic San Francisco Hotel

Proper Hotel, Mid-Market Neighborhood, San Francisco, CA

Malcolm Davies

 SAN FRANCISCO, CA -- George Smith Partners, one of the nation’s leading commercial real estate capital markets advisors, has successfully arranged $45 million in bridge refinancing for the 131-room San Francisco Proper Hotel, located in the heart of the city’s vibrant Mid-Market neighborhood.

 The financing was arranged by George Smith Partners’ Principal and Managing Director, Malcolm Davies, along with Evan Kinne, Zack Streit, Rachael Lewis, Alexander Rossinsky and Minjoo Kim.

“This was a unique opportunity to finance a highly-anticipated luxury lifestyle hotel that underwent a significant repositioning while maintaining its historic character,” said Davies. “The new loan will replace an existing construction loan and mezzanine facility, providing cost savings, term and flexibility for the sponsor.”

Rachael Lewis

George Smith Partners worked closely with the sponsor, Los Angeles-based The Kor Group, a lifestyle real estate investment firm with more than $3 billion in assets, to arrange the financing for the historic flatiron building at the triangle of McAllister, Market and Seventh Street.

Minjoo Kim

“The capital markets responded well to the opportunity, based on the property’s elevated positioning within the San Francisco hospitality market and the strength of the sponsorship group,” said Davies, who cited The Kor Group’s proven track record of developing and operating hotels as an important factor that Davies’ team communicated to its lender network. 

Zack Streit

“Our firm specializes in capital advisory services for entrepreneurial firms, and our ability to work hand-in-hand with the Kor team to help deliver what they were looking for is a testament to their long term vision for the project and the Proper brand itself.”

According to Davies, the new bridge loan enables the Sponsor to focus on its continued operational success and further establishes the property as the premiere luxury lifestyle hotel in San Francisco.

San Francisco Proper Hotel is located in the heart of the city, within walking distance of major landmarks, cultural institutions, architectural marvels, cutting-edge tech companies, and more. 

Kelly Wearstler

Designed by international tastemaker Kelly Wearstler, the hotel offers iconic interiors inspired by the city’s pre-modernist European influence, providing a luxurious yet residential feel.

Evan Kinne

The hotel is host to two award-winning food and beverage concepts, including Villon, an all-day dining destination, and Charmaine’s, a rooftop bar boasting 360 degree views of the city, and offers a multitude of first-class amenities, including Bellino linens, Aesop bath and body products, Vifa speakers, Aireloom mattresses, and 24/7 room service. 

The Proper Hotel is located at 1100 Market Street in San Francisco, California.

Celebrating 25 years in business, George Smith Partners is a leading national provider of capital market advisory services to the commercial real estate industry.

Alexander Rossinsky

The firm specializes in arranging financing for commercial and multifamily properties, including acquisition, construction, bridge and permanent loans, as well as mezzanine loans, highly leveraged participating loans and joint venture equity.  The company has arranged more than $44 billion in financing since its inception.

 Additional information about George Smith Partners is available at www.GSPartners.com.

.

 For more information on this release, please contact:

Kat Castagnoli / Jenn Quader

Brower Group

(949) 955-7940

kcastagnoli@brower-group.com