Monday, June 15, 2020

“She Has a Deal” Announces Hotel Investment Pitch Competition Finalists


Michele M. Gordon

McLEAN, Va., June 15 ,2020—Officials of “She Has a Deal,” an annual hotel investment pitch competition for early-career women, today announced its five finalists  selected to advance to the final round to compete for the prize of $50,000 in hotel deal equity.


Tracy Prigmore of TL Solutions--Mary Gardella Photography 

During the preliminary judging round, 14 teams comprised of 28 participants pitched their hotel investment acquisition or development plans live on Zoom to a judging panel of top-level hotel business executives, entrepreneurs and investors. 

Chelsea Lawson from University of Houston

 The judges evaluated and selected the following five teams:

CityTerrace Ventures: Nancy Guzman and Marlene Reyes from Cornell University
Datcher: Joanne Angbazo, Kristen Collins, and Lera Covington from Cornell University
Fernweh Partners: Meaghan Carfrey, Nikki Gonzales, and Viviana Wilkins from San Diego State University
Lodgingo: Eng Ea and Regina Yoo from New York University
Phoenix Capital: Chelsea Lawson from University of Houston and Heaven Douglas from Howard University



Nancy Guzman from Cornell University

The teams, who started the “She Has a Deal” process in November 2019, completed more than 12 hours of intensive hotel investment education to learn how to source, evaluate and raise capital for a real hotel deal.


Meaghan Carfrey from San Diego State University

“These remarkable young women were so well prepared, I forgot I was judging a competition versus consulting with my tenured hospitality partners,” said Michele M. Gordon, senior director for Amadeus Hospitality, who served as a judge during the preliminary round. 


Heaven Douglas from Howard University
 “The presentations were thoroughly researched and representative of established thought leaders versus student contestants.  In a few years, I know our industry will be reaching out to these trailblazers for advice.”


Marlene Reyes from Cornell University

Pitches included ground-up construction, adaptive reuse, reflags and conversions of hotels in markets ranging from Silicon Valley to suburban Atlanta to theme park-adjacent Orlando.


“What an amazing group of young women!” said Brian Covington, judge and vice president of revenue optimization at Salamander Hotels & Resorts.

      Nikki Gonzales from San Diego State University

 “Their work was on par with, if not better, than what I’ve seen through other feasibility assessments. I applaud ‘She Has a Deal’ for providing a platform toward hotel ownership while educating in the process.”

 Regina Yoo from New York University
"Since having competed in SHaD, I can say that I am a better version of myself,” said finalist Chelsea Lawson from Phoenix Capital. “I have grown my professional network and gained valuable, transferable skills.


Eng Sou Ea from New York University

" If you would have told me when I was a freshman walking on the University of Houston campus that I would one day be competing to become a hotel owner, I would've said you were lying.

Viviana Wilkins from San Diego State University

"I am profoundly grateful to the SHaD Squad for this opportunity and excited to compete in the finals alongside my partner, Heaven Douglas."

“It really gave me hope for the future,” said Tracy Prigmore of TLTsolutions and founder of the competition.  “These women gave their projects their all, and it was so inspiring to watch them put what they learned over the last five months to work in a real-world pitch.  I can’t wait to execute the winning deal!

Lera Covington from Cornell University
“Both Hilton Worldwide and Marriott International are deeply committed to growing the number of women hotel owners of their brands, and their support of She Has a Deal really underscores both companies’ dedication to diversity,” Prigmore added.


Kristen Collins from Cornell University

In consideration of the health and safety of everyone involved, the final pitch competition, originally scheduled for April 25, will take place later this year on October 24, 2020 at the Hilton Innovation Gallery. 


Joanne Angbazo from Cornell University

For more information and to purchase tickets, please visit www.shehasadeal.com.


 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




Sunday, June 14, 2020

JLL arranges $48.75 million loan for 271-unit New Jersey apartment development


Rendering of planned Print House by Vermella, a 271-unit, best-in-class apartment building
in Hackensack, Bergen County, NJ

MORRISTOWN, NJ – JLL Capital Markets announced it has arranged $48.75 million in financing for the development of Print House by Vermella, a 271-unit, best-in-class apartment building in Hackensack, Bergen County, New Jersey.

Thomas Didio
JLL worked on behalf of the borrower, a joint venture between Russo Development, The Hampshire Companies and Fourth Edition, to secure the 60-month, floating-rate construction loan through a national bank.

 
Print House by Vermella will be situated in a prime location at 150 River Street near Downtown Hackensack and the Bergen County Courthouse.

The transit-oriented development will also be adjacent to the NJ Transit Hackensack Bus terminal, within five minutes of two NJ Transit stations and will offer residents convenient access to Interstate 80.

 The fully approved project will feature 271 market-rate, luxury rental units, including a mix of studio (12%), one-bedroom (52%) and two-bedroom (36%) floor plans.

Jon Mikula
Units will include washers and dryers, spacious walk-in closets with built-in shelving, nine-foot ceilings, abundant natural light, Nu Wud flooring, and gourmet kitchens complete with quartz countertops, custom cabinetry, marble tile backsplashes and stainless-steel energy-efficient appliances.

The resort-like amenity package will include a swimming pool and sun deck; state-of-the-art fitness center with yoga studio and Fitness on Demand; gorgeous clubroom with fireplace seating area, multiple TVs, various game stations, billiards, a bar area, and an oversized dining table; a private conference room; private dog walk; and direct access to the brand-new Riverwalk along the Hackensack River.

Upon completion, this building will be the first of a multi-phase development that will total nearly 20 acres along the Hackensack River. Future phases will include an additional 382 residential units and approximately 30,000 square feet of commercial space.

Michael Klein
The JLL Capital Markets team representing the borrower included Senior Managing Directors Thomas Didio, Jon Mikula and Michael Klein and Associate Andrew Zilenziger.

“We are pleased to help the Russo/Hampshire/Fourth Edition joint venture secure construction financing for the Print House by Vermella project on River Road,” Didio said. “The bank did a terrific job committing and closing the loan in a very difficult market.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization.

 The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

Andrew Zilenziger
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.


About Russo Development

Russo Development (Russo) is one of the most experienced developers of commercial, residential and mission critical facilities in the New York Metropolitan Area.

 During its 45-year history, it has developed more than eight million square feet of premier commercial space throughout northern New Jersey.

 Russo is a fully-integrated real estate and construction firm with in-house site planning, architecture, civil engineering, construction management, general contracting, site excavation and property management capabilities.

 Russo utilizes a highly-successful development program to consistently meet market demand and is aggressively acquiring redevelopment opportunities and developable land throughout the region.


CONTACT:

Kristen Murphy
JLL Senior Manager
 Public Relations
Phone: +1 617 848 1572



Saturday, June 13, 2020

Seefried Completes 8.82-acre assemblage in Elk Grove Village, IL


Located in the highly sought-after Centex Industrial Park
in Elk Grove Village, IL, Seefried plans to construct
 
a two-building 163,000 SF spec industrial development.


David Riefe
ELK GROVE, IL -- Seefried Industrial Properties recently acquired an 8.82-acre land site with plans to break ground immediately on a two-building 163,000 SF spec development.
 
The 8.82-acre site is an assemblage of six (6) residential parcels that Seefried re-zoned and consolidated to accommodate this development. 

 Jonathan Kohn and Ron Behm at Colliers International represented Seefried on the assemblage.

Located in the highly sought-after Centex Industrial Park in Elk Grove Village, the project will   feature 32-foot height clear heights, 195’ concrete truck courts, an ESFR sprinkler system, 24 docks, 8 trailers and 175 parking spaces. 

 The site offers close proximity to I-290 and I-355 and is minutes from O’Hare International Airport.  Combined with the I-290 North Submarket to south of the airport, the greater O’Hare area totals more than 215 million square feet and is one of the largest industrial submarkets in the country. 

Jonathan Kohn
 “After successfully developing, leasing and selling a 215,000 SF spec facility prior to its completion in Pleasant Prairie, Wisconsin, Seefried is pleased to be partnering again with the same team on this development," said David Riefe, Senior Vice President of Seefried Properties.
  
 "While real estate markets have changed dramatically over the past several months, we are confident this project caters to emerging trends such as last mile distribution near the population center.” 

Harris Architects has been engaged as the project architect; Jacob & Hefner is the civil engineer and Premier Design + Build is the general contractor.  The project is scheduled for completion during the first quarter of 2021.

Ron Behm
About Seefried Properties

Seefried Properties was founded in 1984 by Ferdinand Seefried and is still 100 percent privately owned today.  

The firm focuses on industrial development in core markets and build-to-suits with corporate tenants and users in first and second-tier markets. 

Seefried's development, construction, leasing, property management and accounting teams firmly believe that client relationships are solidly built on trust and further developed by each individual experience.  


Ferdinand Seefried 
Seefried is based in Atlanta, with regional offices in Los Angeles, Dallas/Fort Worth, Chicago and Phoenix.  

Seefried Properties has built over $9 Billion in development volume in 25+ markets across the U.S.
 
 CONTACTS:

Dave Riefe
Senior Vice President – Midwest Region
Seefried Industrial Properties
daveriefe@seefriedproperties.com     +1 630.215.5323


Barbara Bennett
Marketing Coordinator
Seefried Industrial Properties
3333 Riverwood Parkway · Suite 200
Atlanta, Georgia 30339
O: 770.702.8207 │ M: 520.661.9641
bbennett@seefriedproperties.com
www.seefriedproperties.com


JLL secures $26.65 million financing to develop Austin mixed-use property


Rendering of planned Red Bluff Development, Austin, TX

 DALLAS, TX – JLL Capital Markets announced it has arranged $26.65 million in construction financing for the Red Bluff Development, a Class A, 91,635-square-foot office and retail development in a Qualified Opportunity Zone in Austin, Texas.

 De'On Collins
JLL worked on behalf of the developer, HN Capital Partners, to place the loan with Bank OZK. 

HN Capital Partners is developing the project in partnership with Austin-based Red Bluff Partners, which acquired the land in 2014.

The building will be the first phase of a mixed-use project and consists of a five-story, Class A office building and ground-floor retail space along with a 269-stall parking structure.

 Designed by Studio Rick Joy, the building will feature open floor plans with ample natural light. The developer plans to construct a boutique hotel as part of the second phase.

The building will be situated on 1.09 acres at 4713 E. Cesar Chavez St. in the East Austin District, a live-work-play area in Austin that embodies the quintessential Austin lifestyle.

This premier location provides access to the city’s trendy amenity base, which includes more than 2.2 million square feet of retail and more than 6,500 multi-housing units.

Chris McColpin
The JLL Capital Markets Debt Placement team representing the equity placement or a recapitalization. 

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

The borrower was led by Senior Directors De'On Collins and Chris McColpin, Associate Jayme Nelson and Analyst Alastair Barnes.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement,

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. 

Jayme Nelson 
JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. 


JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

Ray Lee Hunt 
About HN Capital Partners
HN Capital Partners is an opportunistic investment manager founded and operated by Vipin Nambiar, with the backing of Hunt Investment Group (a company led by Ray L. Hunt and his family). 


 Alastair Barnes
HN Capital runs multiple strategies on behalf of its investors and takes a long-term and opportunistic approach to compounding capital.

 Cross capital-structure real estate investments are one of the key investing areas for HN Capital, and it was the co-developer of marquee projects like the Virgin Hotel Dallas.

About Red Bluff Partners

Red Bluff Partners is led by a group of experienced sponsors including John Scott and Bernt Kuhlmann, who have brought in a stellar team of industry experts in order to design and execute their vision of a cornerstone property in an evolving and blossoming east Austin community.

CONTACT:

Kimberly Steele
JLL Senior Associate
Public Relations
Phone: +1 713 852 3420




Thursday, June 11, 2020

EverWest Acquires Inland Empire Industrial in $37 Million Off-Market Deal

                                
Magnolia Pointe, 1560 E. 6th Street, Corona, CA

Erik Good
CORONA, CA, June 11, 2020 – Representing its second major off-market industrial acquisition in just over two months, Denver-based EverWest Real Estate Investors has completed the $37 million, seven-year sale-leaseback acquisition of Magnolia Point – a 210,345-square-foot Class A industrial building in California’s high-demand Inland Empire West submarket.

The building, which is located at 1560 E. 6th Street in Corona, California, sits near the intersection of Interstates 10 and 15. It is 100 percent leased by Amrapur Overseas, Inc.

Richard Schwartz
“A strong industrial sector has made off-market, sale-leaseback scenarios like Magnolia Point an extremely attractive strategy for both the buyer and seller,” said EverWest Managing Director Erik Good, who oversees the company’s Southern California acquisition activity.

“We have been actively pursuing and closing deals just like this – involving well-located buildings with a stable tenancy and a solid value trajectory.”
Built in 2014, Magnolia Point is a Class A warehouse/distribution building featuring 32’ clear height, 21 dock-high doors, two ground-level doors, a 150-foot truck court and more than 27,300 square feet of office space.

Joey Reaume
Richard Schwartz, Joey Reaume and Tommy Gilmore of Colliers International represented EverWest in the acquisition. Jim deRegt of Lee & Associates represented the seller.
EverWest is an active investor and lender across the United States, including regional activity in the Southwestern U.S. spanning industrial, office and multi-family product.
About EverWest Real Estate Investors LLC
 Tommy Gilmore
EverWest Real Estate Investors LLC, a wholly owned subsidiary of GWL Realty Advisors, is a real estate investment and operating company based in Denver, Colorado.

The company’s goal is to create significant value for investors through a combination of capital appreciation, strategic acquisition, development, capitalization, repositioning and management of commercial real estate assets.
Jim deRegt 
For more information on EverWest, please visit www.everwest.com.
 For more information on GWL Realty Advisors, please visit www.gwlra.com.









CONTACT:

Stacey Hershauer
focusAZ 

P 480.600.0195

Regency Centers Issues Annual Corporate Responsibility Report


Lisa Palmer

JACKSONVILLE, FL, June 11, 2020 (GLOBE NEWSWIRE) -- Today, Regency Centers Corporation (“Regency” or the “Company”) (NASDAQ: REG) announced the release of its annual Corporate Responsibility Report.

The report illustrates Regency’s continued commitment to corporate responsibility and key environmental, social, and governance initiatives and achievements.

A copy of the full report can be found on Regency’s Corporate Responsibility site.

“Our commitment to corporate responsibility is rooted in our founding core values,"  said Lisa Palmer, President and Chief Executive Officer.

"These values serve as the guiding principles for how we do business, holding ourselves to a high standard every day, including in today’s uncertain environment.

“Throughout the disruptions resulting from the recent COVID-19 pandemic, Regency has maintained our commitment to doing all that we can to ensure the well-being of our team members, tenants, and the communities that our properties serve.

"Additionally, the recent disturbing events resulting in calls for action have made it very clear that we all must address the issues of social injustice and systemic racism. Regency is committed to being part of a necessary change to make our society more just and equal.”

Laura Clark

About Regency Centers Corporation (NASDAQ: REG)

Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas.

Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers.

 Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member.

Our operations are subject to a number of risks and uncertainties. When considering an investment in our securities, you should carefully read and consider these risks, together with all other information in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and our other filings and submissions to the SEC, which provide much more information and detail on our business.

For more information on the company, please visit RegencyCenters.com.

CONTACT:

Laura Clark
904 598 7831
LauraClark@RegencyCenters.com