Tuesday, October 22, 2019

Ware Malcomb Announces Rob Kiester Has Been Promoted to Studio Manager, Architecture in Denver, CO Office

  
Rob Kiester

DENVER, CO – Ware Malcomb, an award-winning international design firm, announced Rob Kiester has been promoted to Studio Manager, Architecture in the Denver office. In this position, Kiester helps lead and manage the Architecture Studio and manages select projects.

Kiester joined Ware Malcomb in 2016 as a Project Manager and quickly became an instrumental member of the Denver team and a leader within the office.

 His extensive project management experience includes schematic design, design development, agency processing, consultant coordination, contract documents and contract administration.

He is also proficient in a variety of computer programs including Revit, Enscape, AutoCAD, 3DS MAX, and SketchUp.

Matt Chaiken

 Kiester successfully leads projects from the initial master planning and design stages through construction completion. His experience includes various project types including office, public, retail, industrial, restaurant, interiors and master planning projects.

“Rob’s in-depth knowledge of both architecture and technology have enabled him to merge these disciplines together to develop innovative solutions for the benefit of our firm and our clients,” said Matt Chaiken, Principal of Ware Malcomb’s Denver office.

 “At the same time, Rob’s excellent client service has contributed to the overall growth, expansion and diversification of our Denver client base and beyond. We look forward to Rob’s continued contributions and leadership at Ware Malcomb.”

Kiester earned a Bachelor of Science degree in Construction Management from Brigham Young University and a Master of Architecture degree from the University of Colorado.

He is a Licensed Architect in Colorado and California and is certified by the National Council of Architectural Registration Boards (NCARB). He is also a member of the American Institute of Architects (AIA).

 CONTACTS:

Rachel Devany
VP Public Relations
 KCOMM for Ware Malcomb
Rachel@kcomm.com 

Maria Rodgers, Public Relations Manager, 949.660.9128, mrodgers@waremalcomb.com

Maureen Bissonnette, Associate Principal, Marketing, 949.660.9128, mbissonnette@waremalcomb.com


1600 Champa Street Suite 350
Denver, CO 80202

p. 720.488.2626

        

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Hoar Construction Celebrates Topping Out of Gentry in Buckhead, GA


Gentry, a 21-story luxury mixed-use apartment community at 3172 Roswell Road in Atlanta’s Buckhead Village

ATLANTA, GA  – Hoar Construction and its development partner LMC, a Lennar Company, announced today the topping out of construction at Gentry, a 21-story luxury mixed-use apartment community at 3172 Roswell Road in Atlanta’s Buckhead Village.

Located on a one-acre surface parking lot that once housed the former Rio Bravo restaurant, Gentry will feature 290 apartments, a six-level parking deck with 458 spaces, and 6,000 square feet of ground-floor retail space.

The community also boasts a number of impressive amenities, including an eighth-floor terrace with outdoor movie theater, roof top private dining room with catering kitchen, luxury pool area with cabanas and an outdoor lounge with stunning views of the Atlanta skyline.

Former Rio Bravo Restaurant, Atlanta, GA at 3172 Roswell Road in Atlanta’s Buckhead Village.

First move-ins at Gentry are anticipated for Spring-2020.

“I am proud of the good work we’ve done with Gentry, both on the community and within the surrounding area,” said Jason Bennett, division vice president at Hoar Construction.

“Gentry’s topping out is a celebration of the progress our team has made as well as the work values and commitment to excellence we embody at Hoar. All of the work crews have made a lasting impact on this neighborhood, which will be further strengthened when Gentry opens next year.”

CONTACT:

Sophie Coffman · Fellow
1718 Peachtree St., Suite 1048 · Atlanta, GA. 30309
M: 404.824.5899
www.thewilbertgroup.com
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Medefind Retail Group of Marcus & Millichap Achieves Record $1,245 Per FT for Net-Leased Taco Bell Property Sale in Fort Myers, FL

 
Taco Bell, a 1,814-square foot net-leased property at 12851 South Cleveland Avenue, Fort Myers, FL

FORT MYERS, FL  –  Medefind Retail Group of Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Taco Bell, an 1,814-square foot net-leased property located in Fort Myers, Fla., according to Chris Travis, sales manager of the firm’s Tampa office. The asset sold for $2,260,000.
Jim Shiebler
Jim Shiebler, James Garner and James Medefind, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  

 The buyer, a private investor, was secured and represented by the same brokers.

“We achieved a record price of $1,246 per ft. by generating multiple offers through exposing the asset to thousands of U.S. and International investors," stated Mr. Shiebler.

  "This is another example of Medefind Retail team’s second to none commitment to the seller to identify and locate buyers by farming, sourcing and calling investors utilizing proven methodical strategies. 
James Garner
"The ultimate buyer was attracted to the A+ location, the storied history of the site as one of the first Taco Bell’s built in all of Southwest Florida and the proven and successful franchisee."

Taco Bell is located at 12851 South Cleveland Avenue in Fort Myers, Fla. Marcus & Millichap is pleased to present Taco Bell Ft. Myers, a truly rare investment opportunity for an investor to purchase a truly iconic brand and highly coveted nationally recognized Quick Service Restaurant property in a burgeoning market.

  This property has been successfully operating at this location since 1987 and is just the second Taco Bell to be built in Ft. Myers. This A+, high barrier to entry location has a variety of phenomenal core real estate drivers that ensure future appreciation and stability of the location.

James Medefind
            The property is ideally located on busy Cleveland Avenue (U.S. Highway 41), just two parcels from the intersection of College Parkway, with multiple points of ingress/egress and a combined daily traffic count of more than 94,000 cars. 

 Cleveland Avenue (U.S. Highway 41) and College Parkway are the two most trafficked arteries in all of Southwest Florida. Since College Parkway is one of only two bridges that connect Fort Myers to Cape Coral, the subject property benefits immensely from its close proximity to this high-profile intersection.

            
CONTACTS:

Whitney Davis 
Davis@marcusmillichap.com
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Partnership between Three Wall Capital and Guggenheim Investments completes acquisition of 18-asset extended stay hotel portfolio


Candlewood Suites Hotel
 NEW YORK, October 22, 2019 - A partnership between Three Wall Capital and Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, completed the acquisition of an 18-asset extended stay hotel portfolio. 

Clients managed by Guggenheim Investments also provided the mortgage debt for the portfolio acquisition.

The national portfolio includes hotels located in North Carolina, Virginia, Florida, Texas, Tennessee, and Georgia, and the assets are affiliated with brands in the Hilton, IHG, and Choice systems. 

Alan Kanders
The hotels are all well positioned in their respective markets and are proximate to dense retail corridors, office parks, hospitals, airports, residential communities, and major highway systems.

The acquisition will build on Three Wall’s rapidly expanding portfolio and aligns well with the firm’s extended stay focus. 

Alan Kanders, Managing Member and Founder of Three Wall Capital, remarked, “The portfolio’s geographic diversity, high-quality physical product, strong in-place cash flow, and valuable real estate made it an all-around attractive investment opportunity for us.” 

The portfolio includes assets flagged as Homewood Suites, Home2 Suites, Candlewood Suites, Staybridge Suites, Suburban Extended Stay, Mainstay Suites, and Sleep Inn. 

 New long-term franchise agreements were secured from all brands. “This acquisition complements our existing portfolio and aligns with our goals for future growth,” Mr. Kanders explained. Three Wall’s portfolio consists of 54 hotels following the close of this acquisition, 46 of which represent extended stay hotels.

Aimbridge Hospitality, the nation’s largest independent hotel management firm, has been retained as the operator, further strengthening their strategic partnership with Three Wall Capital.

The JLL Capital Markets team* led by Managing Director Chris Dewey represented the seller in the transaction.

 Chris Dewey
“This diverse portfolio, consisting of extended stay hotels across multiple class segments, provides significant in-place cash flow in strong southeastern growth markets,” Dewey said. 

 “The hotels have been recently renovated positioning the portfolio to continue capturing more than its fair share of room night demand in markets that continue to expand.” 

About Three Wall Capital

Founded in 2008 by Alan Kanders, Three Wall Capital has completed over $1.0 billion in transactions in a principal investor capacity since inception. 

 TWC invests with the philosophy that hotel real estate is subject to both short and long term cycles, and therefore, opportunistically invests in product type ranging from limited service to luxury hotels.

  TWC’s current investment strategy is to acquire and develop mid-scale extended stay hotels in markets with strong growth outlooks in terms of population, disposable income, jobs, diversity of high-quality food and beverage experiences, retail offerings, and office space.

 For further information and more details on TWC’s portfolio, please visit www.threewallcapital.com.


Contacts
Michael Mao
40 West 57th Street
29th Floor
New York, NY 10019
T. (646) 560-1728
mmao@threewallcapital.com


Kristen Murphy
Director, Public Relations
JLL Capital Markets
One Post Office Square, Suite 3500
Boston, MA 02109
T +1 617 848 1572
M +1 617 543 4873
Kristen.Murphy@am.jll.com

us.jll.com/capitalmarkets

Posted by Alex at 2:46 PM 1 comments
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CRG Hires Capital Markets and Development Veteran Mark Lecocq


Mark Lecocq 
CHICAGO, IL -- CRG, a national real estate development and investment firm, announced the hiring of Mark Lecocq as Senior Vice President of Finance. Lecocq will lead capital markets for the company's expanding mixed-use and multi-family project portfolios.

 CRG, Clayco's real estate arm, is focused on development of high-quality real estate projects throughout North America and primarily invests in three types of real estate; industrial warehouses in key logistics corridors, mixed-used and multi-family in emerging urban neighborhoods, and build-to-suit corporate headquarters. 
The company recently closed on a multi-family project in Fort Worth, Texas with 242 units in the bustling Near South Side neighborhood.

Shawn Clark
"Mark brings key leadership to our team's development and finance activities," said CRG President Shawn Clark. "His extensive track record of originating and structuring institutional-grade projects strengthens confidence with our investors and allows him to hit the ground running."
Prior to joining CRG, Lecocq spent nine years at The Fifield Companies, most recently as Executive Vice President of Finance, Development and Acquisitions.
 During his tenure, the company's portfolio of active projects included over 4,500 multi-family units valued at over $2 Billion in the Chicago, Austin, Dallas, Los Angeles and Miami markets.

A.M. 1980 Residences, Bucktown, Chicago, IL
"CRG's multi-family business has a terrific track-record and clear strategy for growth," said Lecocq. "I look forward to leveraging Clayco's integrated platform to expand and capitalize CRG's current pipeline of multi-family projects throughout the country. 
"It's a unique delivery model that creates a giant competitive advantage for CRG and its investors, as well as beautiful communities for our residents."
The project in Fort Worth will be a continuation of CRG's "chapter" branded multi-family developments. The property is located in the bustling Near South Side neighborhood of Fort Worth, home to several of the largest employers in the market.

Upshore Chapter Apartments, Uptown, Chicago, IL
The building amenities include a state-of-the-art fitness center, co-working space and a landscaped courtyard with an infinity-edged pool, barbeque grills, firepits and terraced seating. Resident occupancy is schedule for the second quarter of 2021.
CRG's most recent multi-family projects in Chicago include the A.M. 1980 Residences, a 132-unit apartment development in Bucktown, and Upshore Chapter, a 149-unit apartment building in Uptown. 
In addition to these, CRG's apartment development pipeline includes projects in Chicago, San Diego, Denver and other high-growth markets throughout the United States.

MEDIA CONTACT

Mia Sissac
sissacm@realcrg.com
312-618-0946

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Sunday, October 20, 2019

NAI Realvest Closes Clermont Office Building Sale to Local Property Management Firm for $1.45 Million

Chris Adams


CLERMONT, FL  and ORLANDO, FL – NAI Realvest recently closed on the $1,450,000 sale of the 15,432 square foot office building on a 1.49-acre site at 1230 Oakley Seaver Drive in Clermont. 

Clermont-based SIG Properties Inc. purchased the property from Tiger Investment Group Inc. of Jacksonville , according to NAI Realvest Vice President Chris Adams.

SIG – a growing property-management business represented by Robert Thompson of South Lake Realty Inc. – will occupy half of the 15,432 square foot building.

Clermont, FL Office Building, 1230 Oakley Seaver Drive

CONTACTS:

Chris Adams, Vice President, NAI Realvest,
407-875-9989 cadams@realvest.com

Patrick Mahoney, President / CEO NAI Realvest,
407-875-9989 pmahoney@realvest.com

Beth Payan, Larry Vershel Communications,
407-644-4142 or 407-461-3781 beth@larryvershel.com

www.NAIRealvest.com.

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Hold Thyssen Brokers Long Term Lease for 2nd Gen Retail Pharmacy in St. Cloud, FL



Vikash Mahadeo

ST. CLOUD FL --- Hold Thyssen, Inc., a full service commercial property firm based in Winter Park, recently completed a five-year lease agreement to assist in the opening of a 2nd Gen retail pharmacy at 520 13th Street off of U.S. 192 in St. Cloud . 




 Hold Thyssen leasing associate Vikash Mahadeo negotiated with the owners of a Mount Dora-based, independently-owned retail pharmacy to expand their business into the new market by opening a second chain location. 

Keshav Rx, LLC leased the 1,145 square foot space in a two-unit building where the other occupant is a family practice medical office.

Gen retail pharmacy at 520 13th Street off of U.S. 192 in St. Cloud, FL

Keshav Rx anticipates an opening date in the first quarter of 2020.  The landlord is TC Holdings, LLC; a local owner specializing in acquisition of medical office buildings. 

 Hold Thyssen, Inc. provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States .

CONTACTS:

Anthony Fisher, Vice President, Hold Thyssen Inc.,
 407-691-0505, afisher@holdthyssen.com

 Robert P. Hold, Principal, Hold Thyssen, Inc.,
407-691-0505, bhold@holdthyssen.com

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


Posted by Alex at 2:48 PM 0 comments
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EverWest Provides $24.3 Million Construction Financing for NexMetro Residential Projects in Arizona and Colorado


Zi Sen Chong

DENVER, CO – EverWest Real Estate Investors has closed on two mezzanine construction loans totaling $24.3 million for NexMetro Communities, a leading national developer of innovative for-rent communities that serve as a hybrid between conventional garden-style apartments and amenitized single-family homes.
 The EverWest loans will support NexMetro’s development of two highly differentiated Avilla Homes rental communities in two high growth markets – Peoria, Arizona and Thornton, Colorado.
“NexMetro has a proven track record of delivering a niche, in-demand residential product that bridges the gap between single-family residences and apartments,” said EverWest Director for Structured Finance Zi Sen Chong.
Tom McCahil
“They are a well-capitalized entity that has developed, sold or is currently developing more than 5,800 units in high growth markets and is backed by an extremely experienced ownership team. We are excited to support the development of their newest communities.”
Located in Peoria, Arizona, within metro Phoenix’s West Valley submarket, Avilla Lago is a gated community totaling 120 modern and stylish units. The project offers one-, two- and three-bedroom single-family rental home plans ranging from 635 to 1,236 square feet.
Avilla Eastlake is located in Thornton, Colorado. It totals 244 equally styled single-family rental units, with one-, two- and three-bedroom home plans ranging from 638 to 1,289 square feet.
Joe Chickey
All units are detached or semi-detached and include a private entry, private fenced yard and are fully pet friendly. Proven floorplans feature 10-foot ceilings, modern top-of-the-line finishes, stainless steel appliances and full-size washer and dryers.
NexMetro Peoria, AZ Development
Both properties feature professional property management, open grassy areas, walking trails, an on-site dog park and a resort-style pool with hot tub, lounge seating, dining areas and built-in barbeques.
Avila Lago sits west of the northwest corner of Lake Pleasant Parkway and Beardsley Road. It is minutes from the Loop 101 freeway with quick access to downtown Phoenix, major employment corridors and large-scale retail, sports, dining and entertainment.
NexMetro Development, Thornton, CO
Avilla Eastlake is located at Washington Street and Washington Center Parkway. It is 13 miles north of downtown Denver and sits on the east side of Interstate 25, close to Denver International Airport, an RTD regional rail station, major employment centers and local shopping, dining and entertainment destinations.
NexMetro anticipates delivery of Avilla Lago by October 2020 and Avilla Eastlake by December 2020.
EverWest launched its structured finance platform in 2013 under the direction of industry veterans Tom McCahill and Joe Chickey, with a focus on originating and managing mezzanine debt, preferred equity financing and B-notes for commercial properties and developments throughout the U.S. EverWest continues to actively seek new investment opportunities in major U.S. markets.
CONTACT:
Stacey Hershauer
focusAZ 

P 480.600.0195
www.nexmetro.com.
www.everwest.com.
www.gwlra.com.





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Saturday, October 19, 2019

Passco Cos. Acquires 220-Unit Luxury Multifamily Community in Knoxville, TN


Tapestry at Turkey Creek, a 220-unit, best-in-class luxury apartment community at 810 Tapestry Way in Knoxville, TN

Knoxville, TN — Passco Companies, a privately held California-based commercial real estate company that specializes in acquisition, development, and property and asset management throughout the U.S., has acquired Tapestry at Turkey Creek, a 220-unit, best-in-class luxury apartment community at 810 Tapestry Way in Knoxville, Tennessee.
Colin Gillis
The firm acquired Tapestry at Turkey Creek directly from the asset’s developer, Birmingham, Alabama-based Arlington Properties, for a total consideration of $40.4 million, according to Colin Gillis, Vice President of Acquisitions – East at Passco Companies.

 “We were immediately drawn to the opportunity to acquire a stand-out asset in this market – presenting a quality unmatched by the overwhelming majority of existing multifamily product in Knoxville – from a national developer known for exceptional design and amenities packages,” explains Gillis.

“Driven by steady job growth and high absorption, multifamily demand is outpacing supply in the Knoxville area. With sustained low unemployment and a rising number of white-collar jobs, we anticipate the demand for high-quality multifamily assets like Tapestry at Turkey Creek to remain strong.”
David G. Ellis
David G. Ellis, Executive Vice President of Development for Arlington Properties, adds: “Tapestry at Turkey Creek has been an excellent performer in our portfolio since it was delivered into the market last year.

 "These units leased up at a very swift pace, demonstrating the strength of the Knoxville multifamily market and the community’s fantastic location within the city.

"We look forward to continuing our involvement in the development as property manager for a great owner in Passco.”

CONTACTS:

Micaela Fehrenbach / Elisabeth Manville
Brower Group
(949) 438-6262
emanville@brower-group.com

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