Pacific Industrial Acquires Prime 157,204-SF Industrial Property in Affluent Costa Mesa, CA Market

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Costa Mesa, CA Industrial Property

Trent Walker

Orange County, CA – Pacific Industrial, one of the most active privately held industrial development and investment firms in Southern California, has completed the strategic acquisition of a 157,204 square-foot, two-building industrial property situated immediately adjacent to John Wayne Airport in Costa Mesa, California for approximately $33 million.

Pacific Industrial closed on this property with one of its key institutional partners, a private equity fund advised by Crow Holdings Capital.

Trent Walker, an Executive Vice President with Voit Real Estate Services, represented Pacific Industrial as the buyer in the off-market acquisition.

Dan Floriani, Co-Founder of Pacific Industrial explains, "This investment is perfectly aligned with our company’s ongoing strategy to acquire irreplaceable assets in exceptionally well located pockets that will attract a wide variety of users.”

Dan Floriani

The property is well positioned for value creation, according to Floriani, who points to its direct frontage on the Orange County airport, easy access to several freeways, and location in a highly affluent pocket of the Orange County Airport submarket as factors that made the asset an ideal target for his firm, and for future tenants.

One of the property’s buildings is home to the U.S. headquarters of RipCurl, a major Australian designer, manufacturer, and retailer of surfing sportswear. The second building was recently vacated by Karma, offering the opportunity for a valuable renovation and repositioning in the market, according to Floriani.

For more information, please contact:

Jordan Kruk/Jenn Quader

Brower Group

(949) 955-7940

jkruk@brower-group.com

www.voitco.com.  

www.Pac-Industrial.com

Atlanta Hawks Basketball Club Signs Multi-Floor Lease Renewal at 101 Marietta Street

Centennial Tower, 101 Marietta Street, Downtown Atlanta GA

Scott Wilkinson

ATLANTA, GA  (May 14, 2018) – The Dilweg Companies announced today the signing of a long-term lease renewal with the Atlanta Hawks Basketball Club at 101 Marietta Street, a recently renovated 36-story Class A office tower and signature landmark of the Downtown Atlanta skyline.

The eight-year extension represents 53,865 square feet of premium office space on three different floors that currently houses over 200 Hawks employees. 

Major renovations are planned aimed at increasing the number of collaborative and employee-friendly work spaces. The NBA franchise has called 101 Marietta Street home since 2004.

Anthony Dilweg

“We love being downtown – so close to the Arena, MARTA and Centennial Park and we are committed to the future of Downtown Atlanta,"  said Scott Wilkinson, Chief Legal Officer of the Hawks.

"The offices at 101 Marietta Street check all the boxes in terms of convenience, location and overall appeal for our employees, making it an easy decision to extend our relationship.

“The cutting-edge workspace and premier amenities that Dilweg has delivered in the last year have been impressive, and have fostered an energized atmosphere that will attract and retain quality talent. 

"We look forward to embarking on our next chapter downtown at 101 Marietta Street and a transformed Philips Arena.”

101 Marietta Street recently underwent a $5 million repositioning project, and offers brand new amenities, breathtaking skyline views and access to vibrant in-town destinations.

Jerry Banks

 Improvements include a state-of-the-art front lobby, life-size two-way virtual window offering real-time views of the streetscape and building interior, brand new fitness center, and new tenant lounge known as “The Hub” featuring televisions, a pool table, couches, and kitchen with barstool-style seating.

Chris Port, Senior Vice President with CBRE, represented the owners. John Dolan from CBRE represented the tenant.

“The Hawks’ commitment to 101 Marietta Street affirms the building’s first-class amenities and premier location in the heart of Downtown Atlanta,” said Anthony Dilweg, Founder and CEO at The Dilweg Companies. “The significant capital investments reflect our commitment to delivering future-ready workspaces that foster growth for tenants and build long-term value for our strategic partners.”

Chris Port

The building is currently 80 percent leased and includes notable tenants such as The Associated Press, CH Robinson, NAGRA/Kudelski Group, Oracle, Cogeco PEER 1 and Southern Education. 

The broad range of industry sectors represented at 101 Marietta Street include media, entertainment, logistics, digital security, education, legal and professional services.

“We are pleased to continue our partnership with the Atlanta Hawks, who are a cornerstone tenant and valued ambassador for our building,” said Jerry Banks, Managing Director at The Dilweg Companies. “The resurgence of Downtown Atlanta coincides with the robust leasing momentum at 101 Marietta Street. We look forward to sharing more news on our growing and diverse tenant roster in the near future.”

John Dolan

Tenants enjoy convenient access to three separate MARTA train stations located near the building, and are also just a short walk away from Centennial Olympic Park, CNN Center, Georgia Aquarium, the College Football Hall of Fame and the new Mercedes-Benz Stadium.

101 Marietta Street is in close proximity to several shopping and dining venues in the heart of Downtown Atlanta, and is part of the city’s newly dedicated arts and entertainment district.

CBRE is overseeing leasing at 101 Marietta Street. To learn more about floor plans and available office space, click here. Photos of the property can be found here.

The Dilweg Companies is a full-service commercial real estate investment firm based in Durham, North Carolina. 

Since its launch in 1999, Dilweg has gained broad experience in the acquisition, development and operation of office, retail, warehouse/flex, multifamily and self-storage properties. 

Dilweg’s investors have sponsored over $1.34 billion in assets and more than 11.1 million square feet throughout North Carolina, Florida and Georgia. For more information, please call (919) 402-9100 or go to www.dilweg.com.

With a bold identity and strong new ownership, the Atlanta Hawks Basketball Club and Philips Arena remain committed to making Atlantans proud on the court and off. 

Phillips Arena, Atlanta, GA

The 2014-15 Southeast Division Champions, the Hawks made the postseason in 10 consecutive seasons and reached the Eastern Conference Finals for the first time in franchise history in 2015. 

Off the court, the organization has built a culture of inclusion, diversity and innovation, all with a touch of Southern Hospitality.

 It continues into the community where the organization builds bridges through basketball, whether by constructing and refurbishing courts in Atlanta neighborhoods, providing scholarships to our basketball camps, or surprising and delighting our fans with unique Atlanta Hawks experiences. 

Atlanta Hawks Membership, which includes your seat for every home game for the 2018-19 regular season games, is on sale now at www.hawks.com/membership or by calling 866-715-1500! For more information on the Hawks, log on to www.hawks.com today or follow us on twitter @ATLHawks.

For more information, please contact:

Nick Banaszak

1718 Peachtree St., Suite 1048 

Atlanta, GA 30309

M: 256-457-5384

www.thewilbertgroup.com

Capital Square 1031 Completes DST Offering of 160-Unit Multifamily Community in Athens, GA

Louis Rogers

RICHMOND, VA – Capital Square 1031, a leading sponsor of Delaware statutory trust investments, announced its offering, CS1031 High Ridge Apartments, DST, comprised of a 160-unit multifamily community in Athens, Georgia, has been fully subscribed by a total of 33 investors.

“High Ridge Apartments is located in a strong multifamily rental market in Athens, Georgia,” said Louis Rogers, founder and chief executive officer.

 “With numerous amenities and excellent fundamentals, this multifamily offering aligns well with our strategy of providing investors high-quality, passive investments with a potential for long-term growth.”

Located at 700 Mitchell Bridge Road, High Ridge Apartments is situated on 18 acres of land. The community is comprised of 11 two- and three-story residential apartment buildings consisting of one-two- and three-bedroom units, with an average size of 1,228 square feet.

  

For more information, please contact:

Julie Leber      

Spotlight Marketing Communications  

949.427.5172, ext. 703  

julie@spotlightmarcom.com   

Chatham Lodging Announces Monthly Dividend

WEST PALM BEACH, FL —Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels and owns 135 hotels wholly or through joint ventures, announced its board of trustees has declared a monthly common share dividend of $0.11 for May 2018.

         The common dividend is payable June 29, 2018, to shareholders of record on May 31, 2018.

Chatham Lodging Trust is a self-advised, publicly-traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels.

The company owns interests in 135 hotels totaling 18,518 rooms/suites, comprised of 40 properties it wholly owns with an aggregate of 6,020 rooms/suites in 15 states and the District of Columbia and a minority investment in two joint ventures that own 95 hotels with an aggregate of 12,498 rooms/suites.

For more information, please contact:

Patrick Daly

Office Manager

Daly Gray, Inc.

patrick@dalygray.com

Office:  (703) 435-6293

Cell:  (703) 300-8289

www.chathamlodgingtrust.com.

HFF announces $83 Million financing for high-end, wellness-focused condominium development in Denver, CO

Rendering of planned Lighthouse on 17th condominiums, Sloan's Lake neighborhood, Denver, CO

Brock Yaffe

DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announces $83.03 million in financing for the development of Lakehouse on 17^th, a 196-unit, for-sale condominium project in Denver’s Sloan’s Lake neighborhood.

HFF worked exclusively on behalf of NAVA Real Estate Development to place the floating-rate construction loan with a national bank.

Lakehouse on 17^th is located at 4202 W. 17^th Avenue on the south side of the 177-acre Sloan’s Lake Park.  The 12-story project will comprise 196 units, 13 of which will be multi-level townhomes, along with 6,000 square feet of retail. 

Lakehouse on 17^th will be the only waterfront high-rise in the Denver metropolitan area and will provide views of the city’s largest lake, downtown and the Rocky Mountains. 

Josh Simon

The property will feature high-end finishes and amenities, including a second-floor landscaped amenity deck with community gardens, an urban farm, pool, hot tub, lounging areas and fire pit.  

Other amenities will include a resident lounge with community kitchen, indoor/outdoor fireplace, media den and private event space, as well as a wellness center with a fitness lab, yoga studio and fresh juicing station. 

 Lakehouse on 17^th is the first residential project in Colorado to pilot and pursue WELL Building Certification from the International Well Building Institute (IWBI). The WELL Building Standard is the first to integrate human health and wellness into the design, construction and operations of the built environment in order to optimize the health of its end users.

Bryan Clark

The HFF debt placement team representing the borrower included director Brock Yaffe and managing directors Josh Simon and Bryan Clark.

“Condo development in Colorado has been limited for more than a decade, and financing Lakehouse required significant expertise to connect the dots,” stated Brian Levitt, president of NAVA. 

 “The HFF team did an outstanding job helping NAVA finance Lakehouse as Colorado’s first registered project to pursue WELL Building Certification.”

NAVA Real Estate Development (NAVA) is a real estate investment and development firm founded in 2013 by Denver residents Trevor Hines and Brian Levitt. 

 NAVA strives to develop architecturally significant buildings in prime locations that blend quality, function and design. The name NAVA comes from a Hebrew word meaning “beautiful”, and NAVA is committed to creating developments that shape communities and are sensitive to their environments.  

Brian Levitt

The firm is positioned as an agile and innovative group to identify strategic opportunities and execute with precision.  NAVA is proud to work with the best technology, resources and teams to ensure the greatest economic, social and environmental success, for its investments and its partners.

For more information, please call:

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

www.bcorporation.net

www.navareal.com 

or call 303.900.0060

Bryson Clements Joins 29th Street Capital's Chicago Office

Bryson Clements

Chicago, IL – Bryson Clements has joined 29th Street Capital’s (29SC) Chicago office as a Senior Vice President of Acquisitions focused on military housing nationwide for seniors, students, disabled veterans and active-duty personnel.

“Bryson has a remarkable track record that exemplifies what we look for in new hires,” said 29th Street Capital’s Managing Director Robert Bollhoffer. “He has had a variety of leadership and entrepreneurial roles that involved investments, management and capital markets as well as a host of other skills. 

"We are thrilled that he joined our team and is definitely going to make a difference in launching our military housing efforts.”

Military housing traditionally focuses on active duty soldiers near bases. Clements and 29SC are expanding this sector to develop branded properties nationwide that are tailored for seniors, students and disabled veterans, with each property facilitating access to veterans’ benefits, military installations and care facilities.

Robert Bullhoffer

Clements has over 12 years of experience in investment banking, management consulting, and as a buy-side investor and portfolio manager. 

His clients ranged from Fortune 100 corporations to private equity firms across several industries. 

He advised on deals as large as $18.5 billion for various corporations, municipalities and financial sponsors such as Berkshire Hathaway.

He served 16 years as a Senior Counterintelligence Officer in the military and Department of Defense, leading elite teams in global operations. Clements was also a Strategic Advisor to the chairmen of both the Senate Finance and the Intelligence Committees.

He earned a B.S. in Accountancy from Brigham Young University and an M.B.A. from Chicago Booth – University of Chicago Graduate School of Business.

For more information, please contact:

Terri Thornton Partner, Thornton Communications Phone: 404-932-4347 Email: Terri@TerriThornton.com  Website: www.TerriThornton.com

www.29thstreetcapital.com.

Exeter Property Group Completes Two New Long-Term Leases at Lee Vista Center in Southeast Orlando, FL

Nick Sands

ORLANDO, Fla. --- Exeter Property Group, a leading owner and developer of industrial real estate throughout the U.S. and Europe, recently completed two new long-term lease agreements for a total of 6,720 square feet at Lee Vista Center, 6901 TPC Drive, in Southeast Orlando.

Nick Sands, Regional Acquisitions and Leasing Officer for Exeter in Florida, brokered both transactions representing the owner/landlord. 

The two new tenants who each leased 3,360 square feet are local businesses: Opmax who is training and administrative services for the rental car industry and Vaulted Cellar, a distributor of domestic and imported wines.        

Lee Vista Center, a 40,329 square foot flex/industrial building located off of Lee Vista and Semoran Blvds. near Orlando International Airport is currently 75 percent occupied.    

  

For more information, please contact:

Larry Vershel Communications, Inc., Larry Vershel or Beth Payan 407-644-4142 or 407-461-3781 Lvershelco@aol.com.

PM Hotel Group Completes Renovation of Homewood Suites by Hilton Dulles-North/Loudoun in Washington, DC Corridor

Joseph Bojanowski

WASHINGTON, DC—Officials of PM Hotel Group, a leading, national hotel management company, announced the completion of the renovation of the Homewood Suites by Hilton Dulles-North/Loudoun. 

  The Buccini/Pollin Group (BPG), a privately held, full-service real estate acquisition, development and management company, owns the hotel.

“With the completion of this multi-million-dollar renovation, the hotel has achieved ‘like-new status,’ with upgraded public spaces, guest suites, a glamorous outdoorkitchen/dining/entertainment area, and other life-cycle investments, including a new roof,” said Joseph Bojanowski, president of PM Hotel Group.

Homewood Suites by Hilton Dulles-North/Loudoun, VA

 “The Dulles Corridor remains one of the most robust markets in the Mid-Atlantic region.  Homewood Suites by Hilton Dulles-North/Loudoun is positioned as a leading upscale extended-stay hotel in the area, and we fully expect our guest feedback to reflect this.  Initial response already has been outstanding.”

Located at 44620 Waxpool Road in Ashburn, Va., the hotel’s public spaces were completely reimagined to bring guests the latest brand amenities to help make their extended stay more homelike. 

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.pmhotelgroup.com.

www.homewoodsuites.com.

New Castle President and COO Gerry Chase To Retire from Company after 30 Years

Gerry Chase

 SHELTON, CT, May 11, 2018— New Castle Hotels & Resorts, a leading third-party hotel management company, owner and developer today announced that longtime president and COO Gerry Chase will retire from NCHR effective June 30, 2018.  

Founded by David Buffam in 1980, New Castle will be led by sons Jeremy Buffam and Julian Buffam in the future. 

                Chase joined the company in 1988 and oversaw hotel operations and later development efforts of more than 80 hotels and resorts.  Chase began his hospitality career as a bellman, rising through the ranks of Marriott International, and later holding executive positions with Interstate Hotels and Resorts before partnering with Buffam to build New Castle. 

David Buffam

             “David offered me the opportunity of a lifetime when he welcomed me into his family business, and after 30 years it’s time to turn over the keys to a new generation,” said Chase. 

“We have a strong executive team in place, a robust development pipeline and a very successful portfolio of owned and operated hotels that each are market leaders.  I can move into this next phase confident that our associates, investors, partners and hotels are all well positioned for continued prosperity."

                Chase has been a dedicated industry collaborator serving on numerous brand advisory boards as well as the board of the American Hotel & Lodging Association and the American Hotel and Register Company. 

In 2015, he was awarded the prestigious Arthur Landstreet Award, which is presented annually to an individual who has made a lasting impact on the quality of education and training in the hospitality industry.

 For more information, please contact:

Lauralee Dobbins

President

856-979-8929

Member SATW

2017 Pepperpot Award Winner