Friday, June 11, 2021

Textiles Are Unlikely Source of COVID-19 Transmission, Finds First-Ever Study of Virus Surrogate on Contract-Grade Fabrics

 

Melissa Hart

GRAND RAPIDS, MI – Steelcase announced the results of the first-ever test of how the SARS-CoV-2 virus behaves on contract surface materials commonly found in offices.

 

 In tests conducted by ResInnova Laboratories using the OC43 surrogate, the company found that:

 

  • No active virus was recovered from the polyurethane-coated fabric at the 2-hour mark.
  • No active virus was recovered from the 100% polyester fabric at the 12-hour mark.
  • Recovered active virus was reduced by 93.6% on the 100% wool fabric at the 24-hour mark.

 

Steelcase commissioned the tests in partnership with Designtex because, while many researchers have studied the virus’ durability on various materials, the only fabric that had been studied thus far was cotton, which is not common in workplaces.


Dr. Sharon Tracy

“For the thousands of companies that have products with these materials in their offices, this test provides an added level of reassurance,” added Melissa Hart, director, Steelcase Surface Materials.


“We already know that porous materials like fabrics tend to be low risk for virus transmission.

 

"Now, as millions of employees return to the office after more than a year of working from home, they can feel confident that the materials used in their office furniture play an effective role in creating safer workplaces.”

 

Recent Steelcase research shows workers returning to the office expect a greater emphasis on safety — citing air quality and adherence to safety protocols as top needs.


Dr. Matthew Hardwick

 

 This test, and surface material performance, serves as one part of the multi-faceted approach to workplace health and safety recommended by Steelcase, which also includes human behavior, air management, application and product design, and cleaning and disinfecting practices. 

 

“While routine cleaning and disinfection protocols are still important, office users concerned with pathogen transmission can now consider a wider array of contract fabrics, beyond those that are bleach-treatable,” said Dr. Sharon Tracy, materials innovation scientist at Steelcase.

 

Steelcase is the first organization to test untreated contract fabrics using ISO 18184 and an ASTM-recommended surrogate for SARS CoV-2.

 

The results, which reinforce the low risk of surface-to-surface transmission of COVID-19 from porous materials, were surprising enough to draw comment from ResInnova Laboratories’ leadership.


Carol Derby

“These are impressive results from materials that have not been treated with an anti-viral additive,” said Dr. Matthew Hardwick, president and CEO of ResInnova Laboratories.

 

Steelcase’s material experts are still studying the “whys” behind the results, including what other material characteristics besides porosity may be contributing to the virus’ behavior, and whether these results are also true of other polyurethane, polyester and wool materials from Steelcase and Designtex.

 

Other enveloped viruses such as influenza A have displayed similar differential survival times on porous versus non-porous materials, further supporting the contention that textiles are likely not a predominant source of contact transmission during annual flu outbreaks, similar to SARS-CoV-2.

 

“We now have scientific evidence that porous materials like textiles have a place in maintaining the health and safety of interiors,” said Carol Derby, vice president of Research and Development at Designtex, which partnered with Steelcase on this project.


CONTACT:


David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

 www.designtex.com.

  www.steelcase.com.

       

Dream Finders Homes Offers New Floorplans for 40-Foot Sites in Exclusive Bella Collina Community, Lake County, FL

Anna Maria with Bonus model, Bella Collina community,
Lake County, FL

 MONTVERDE – After entering the Tuscan-inspired, master-planned community of Bella Collina the end of last year and opening a luxurious model the end of May, Dream Finders Homes has added three new floorplans to its design menu.

 “Along with the premiere of our new model, we have released three new plans to be built on our 40-foot lots,” said Gerry Boeneman, Division President, Dream Finders Homes.

Gerry Boeneman


“We’re now offering the five-bedroom Verona , and the four-bedroom Capri and Milan models which start at $515,990 and range in size from 2,529 to more than 3,000 square feet.”

Boeneman said the company plans to build 149 new homes ranging from 2,500 to 3,412 square feet of living area in Bella Collina, a luxury Lake County community on nearly 2,000 acres just west of Orlando .

  “We’ve already sold several of our lots which offer rolling hill and golf course views,”

The beautifully-appointed two-story Anna Maria with Bonus model – one of seven floorplans Dream Finders Homes is building in the upscale, gated community – has 3,076 square feet of living space comprised of five bedrooms, three-and-a-half baths, a bonus room, plus a two-car garage.

Nick Faldo-designed championship golf course,
Bella Collina, Lake County, FL

In addition to the Nick Faldo-designed championship golf course, oversized resort-style pool, Har-Tru tennis courts and stunning conservation views, Bella Collina boasts a 75,000 square foot clubhouse that includes six buildings, a 500-person ballroom, three dining facilities, a wine cellar, and a full-service spa and fitness center.

For details about Dream Finder Homes’ new designs at Bella Collina, please call 888-214-1164.

CONTACTS:

Gerry Boeneman

 Division President, Dream Finders Homes,

888-214-1164 or 

Gerry.Boeneman@dreamfindershomes.com

Beth Payan, Larry Vershel Communications,

407-644-4142, 407-461-3781 or beth@larryvershel.com

 

Two New Multi-Year Leases by Hold-Thyssen at Phillips Place in Southwest Orlando, FL Keeps Occupancy Rate up to Near 100 Percent

 

Darby Hold

ORLANDO, FL  --- Hold-Thyssen, Inc. a full service commercial real estate services firm headquartered in Winter Park , who handles the leasing and management of Phillips Place in Southwest Orlando , recently completed two multi-year lease agreements at the upscale office/retail center. 


 

Darby Hold, Senior Director for Hold-Thyssen, Inc. represented the landlord, Financial Way Realty, Inc. based in Cincinnati , Ohio , in each transaction.    


 Law Office of Pamela G. Martini, PLLC, leased 1,125 square feet for five years. The firm which specializes in elder law, estate planning, probate and guardianship, was represented by Bill Martini of Berkshire Hathaway HomeServices Florida Realty.   

 

Hold also brokered a new three-year lease agreement and a five year lease renewal agreement at Phillips Place .


 Bill Martini 

 

The Mayer Gallery, LLC specializing in art acquisitions, curating collections and commissioning artworks for private individuals and businesses leased 1,156 square feet for three years.


First American Title Insurance Company, which facilitates and streamlines real estate transactions and provides comprehensive title insurance protection renewed a lease of 961 square feet for another five years. 

 

The 56,000 square foot Phillips Place office building at 7575 Dr. Phillips Blvd is 94 percent occupied.

 


        CONTACTS:


      

Anthony Fisher, Vice President, Hold-Thyssen Real Estate Services, 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.

 

Thursday, June 10, 2021

Real Estate Capital Markets Riding Boom of Revitalized Domestic U.S. Economy, Says RECI

 John Oharenko
 

Chicago, IL --  The domestic economy momentum continues an upward trajectory since bottoming out from the pandemic last spring, according to Chicago-based Real Estate Capital Institute (RECI).

 The unemployment rate is now about half as low, the stock market and other financial indicators hit record levels. 

The Real Estate Capital Institute’s® Director, John Oharenko, suggests, “Less economic [and cash flow] uncertainty translates to better pricing in what continues to be a seller’s market.”

The real estate capital markets are riding the boom as well, as illustrated by the capitalization and mortgage rates: 


Cap Rates:  Overall capitalization rates for CRE assets range from 3.5% to 8%, with a wide variance based on property type, grade, and cash flow quality.  

Capitalization rates for prime multifamily assets dip down to the mid-3%-range, Industrial properties price slightly higher, with net-lease commercial properties not far behind, hovering in the 4%-5% range. 

 Retail and office projects indicate higher risk, falling within the 6%-plus-range.  And lodging properties show more recovery hovering in the 7%-or-more range as travel and meeting business returns. 

 Non-prime properties in various asset categories typically offer widened pricing by 50 to 100 basis points.

 Mortgage Rates:  Despite inflation fears, interest rates remain tame.  Cheap debt drives low caps.  Even as benchmark rates rose over more than fifty basis points since the beginning of the year, mortgage rates stay low.


  Lenders absorb tighter spreads due to more comfort with improving realty market fundamentals.  Short-term debt for prime assets dips below 3%, while longer-term perm loans hover in the 3% to 3.75% range.

 The Real Estate Capital Institute® is a volunteer-based research organization that tracks realty rates data for debt and equity yields.  The Institute posts daily and historical benchmark rates, including treasuries, bank prime, and LIBOR.  

   CONTACT:

John Oharenko

 Executive Director

john.oharenko@reci.com

director@reci.com / www.reci.com

The   Real Estate Capital Institute®

Chicago, Illinois USA 60622

 

Vestar Hires Gabrielle Lardiere as Vice President of Client Services

 

Gabrielle Lardiere

LONG BEACH, CA, June 10, 2021 – Vestar, one of the leading privately held shopping center owners and managers in the western United States, announced today that it has hired Gabrielle Lardiere as Vice President of Client Services.

                Based in Vestar’s Long Beach, CA office, Lardiere is responsible for optimizing and growing the company’s third-party services division as well as enhancing existing client relationships. 

She leads and coordinates the marketing efforts for a variety of company services including property management, leasing and accounting oversight, construction and development management.

R. Patrick McGinley

Vestar currently manages over 16 million SF of space for third-party clients.

“Our third-party portfolio is a huge priority for us,” said Patrick McGinley, President of Management Services for Vestar. 

“Although we do not delineate between projects we own vs projects we manage, it is important to market our ‘best-in-class’ services to new institutional clients and continue to develop the valuable relationships we have with our current clients.”

                Lardiere brings nearly 10 years of commercial real estate experience to Vestar.  Most recently, she served as Director of Business Development for the William Warren Group | StorQuest Self Storage.  

Previously she worked in CBRE’s Advisory and Transaction Services’ group, specializing in retail properties.  Lardiere was graduated from the University of Michigan.

  CONTACT:

 David Ebeling

 Ebeling Communications

 (949) 278-7851

 david@ebelingcomm.com

vestar.com.



Amazon to Lease 360K-SF ‘Highland Cross’ Industrial Site in Rutherford, NJ, Owned by Lincoln Equities Group

 

Jenna Hilzenrath


RUTHERFORD, N.J – Lincoln Equities Group (LEG), one of the Northeast’s leading full-service real estate companies, announced that multinational technology and logistics leader, Amazon, will occupy its future 360,000-square-foot industrial warehouse in Rutherford, N.J., Highland Cross.

“We are excited to continue to invest in New Jersey with a new delivery station in Rutherford that will provide efficient delivery for customers and create hundreds of great job opportunities for the talented local workforce,” said Amazon spokesperson Jenna Hilzenrath.

 

“This new delivery station represents Amazon’s unwavering commitment to safety, technological innovations and skilled teams who are obsessed with delivering for our customers.”


                                Lance Bergstein

The state-of-the-art last-mile distribution center, which will create hundreds of jobs, is in the heart of the bustling Meadowlands industrial market.

 

LEG procured $115 million in industrial build-to-suit construction financing for the facility, a Class A industrial site that recently received requisite approvals.


Joel Bergstein

 

Upon its completion in early-2022, Highland Cross will be on the short list of modern buildings in the Meadowlands, with less than 20 existing properties offering 36-foot-plus-clear heights.

 

 The property will feature cross-docked loading, 70-plus dock high doors and 80-plus trailer parks.


“Highland Cross is optimally positioned to capitalize on the sustained growth in demand for ‘last-mile’ industrial product proximate to consumers, labor and infrastructure,” said LEG Acquisitions and Development Officer Lance Bergstein.

 

“The lease is a continuation of the success LEG has felt in the industrial space of late, including our Bayonne site – which will be occupied by UPS.”


 “We’re thrilled that Amazon has selected our Rutherford facility for its latest delivery center,” said LEG President Joel Bergstein.

 

“We have been working with Rutherford for 20 years and are excited to see this project come to fruition and create a ratable for the borough. It was this administration that supported the vision for industrial.”


  CONTACT:

Dan Gunderman
Senior Account Executive

M 862.377.5106
P 646.586.9931
E dan@violetpr.com

Violet PR
7 N. Willow St, Suite 8C, Mailbox 11
Montclair, NJ 07042

www.violetpr.com

 

www.lincolnequities.com.


Beachwold Residential secures first supplemental loan for Ariel Springs in Spring Hill, FL

 

Mona Carlton

MIAMI, FL – JLL Capital Markets announced  it secured a $15.85 million financing for Ariel Springs, a garden-style, multi-housing property located in Spring Hill, Florida, about 50 miles north of Downtown Tampa.

 JLL represented the borrower, Beachwold Residential, to secure the fixed-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo lender.

Elliott Throne

Beachwold Residential acquired the property in Dec. 2018, landing $44 million in acquisition financing also through Freddie Mac.

 This financing is the first supplemental loan on the property, a result of the borrower’s capital enhancement, immense demand for quality, professionally managed apartments in the market, and the Tampa area’s rent growth through the pandemic.

The ability to repatriate equity through this substantial supplemental loan represents one of the many benefits of Freddie Mac financing.

 Ariel Springs is currently 97.7% occupied and consists of 470 one-, two- and three-bedroom units. Since acquisition, Beachwold Residential has invested nearly $3 million in renovations to both the interior and exterior of the highly-amenitized property.

Jesse Wright

Community features include a clubhouse, community car wash, entertainment area with a full kitchen, modern fitness center, swimming pool, business center and shuffleboard and basketball courts.

 Ariel Spring is located at 3454 Suncoast Villa Way, in the quaint city of Spring Hill, and in close proximity to various neighborhood amenities, including local dining and shopping, and direct access to the 42-mile Suncoast Bike Trail.

 The JLL Capital Markets team representing Beachwold was led by Senior Managing Directors Elliott Throne and Mona Carlton, Director Jesse Wright and Associate Kenny Cutler.

 “One of the many great attributes of an agency loan is the borrower can garner additional proceeds after improving the property’s NOI,” stated Throne.

Kenny Cutler
“Beachwold’s immense success at this asset has enabled them to pull out a significant amount of their equity thru additional financing from Freddie Mac at an interest rate very close to what they have on the original senior loan.”

 According to JLL’s latest United States Multi-Housing Outlook, the Tampa Bay multi-housing market held steady throughout 2020 and heading into 2021.

Occupancies remained at or above 95% over the past five years and overall remaining resilient amid the COVID-19 pandemic.

  For more news, videos and research resources on JLL, please visit our newsroom.

   CONTACT:

 Natalie Passarelli

JLL Senior Associate

 Public Relations

Phone: +1 224 477 7307

Email:  Natalie.Passarelli@am.jll.com

Beachwold.com.

 

Wednesday, June 9, 2021

LYND Acquires Miami Apartment Asset $40 Million

234-Unit Parc Place Apartments, Miami, FL
 

 MIAMI, FL  and SAN ANTONIO, TX --- LYND continues its robust investment activity in South Florida with the acquisition of a 234-unit garden-style apartment community in Miami. 

 The Texas-based multifamily investor, developer and operator paid $40.08 million for the Parc Place Apartments in an off-market transaction that closed June 8.

“Parc Place is the exact kind of value-add investment opportunity we specialize in,” said Constantine Scurtis, president of Lynd Acquisition Group, LYND’s investment division.

 Constantine Scurtis

“Taking a well-located property in an economically strong metropolitan area and utilizing our best-in-class management platform to make upgrades, and boost performance on behalf of our investors.”

Built in 1972, Parc Place features one, two and three-bedrooms units with an average unit size of 737 square feet. 

 While the property has undergone some renovation over the years, LYND plans a significant rehab of both living spaces and common areas. 

 LYND has earmarked a minimum of $2.25 million to upgrade the interiors, gym equipment, the pool area, add outdoor grilling stations, and introduce other new amenities.

David Lynd

LYND has managed more than 11,800 units in Florida over its history, owning more than 6,500 of them. The company has spent over $180 million in hard-construction costs over the years in renovation work.

“We are very bullish on Florida, especially South Florida,” said A. David Lynd, LYND’s CEO. “When you look at what’s happening in the region, several companies are moving here creating jobs.  Good jobs mean good renters.”

  CONTACT:

Todd Templin

Executive Vice President

BoardroomPR

ttemplin@boardroompr.com

O 954-370-8999

C 954-290-0810

 www.lynd.com.