Monday, February 13, 2023

Twenty Four Seven Hotels Announces Grand Opening of 128-Room Hyatt House Sacramento/Midtown, a 95-Year-Old Former Eastern Star Hall

128-room Hyatt House Sacramento/Midtown,
2719 K Street in the Sutter District, 
Sacramento, CA
 

 SACRAMENTO, CA, Feb. 13, 2023—Twenty Four Seven Hotels, a third-party hospitality management company for premium-branded, select-service and lifestyle hotel segments in the western U.S., announced the grand opening of the 128-room Hyatt House Sacramento/Midtown. 


Amanda Hawkins-Vogel

The adaptive reuse project, owned and developed by Hume Development, Inc., repurposed the former Eastern Star Hall, which is located in the heart of Sacramento's art, music and cultural scene.

                  “The Hyatt House Sacramento/Midtown is the perfect marriage of the classic and the contemporary, providing the latest amenities and services in a setting that draws heavily from its nearly century-old history to provide a uniquely Sacramento experience,” said Amanda Hawkins-Vogel, chief operating officer, Twenty Four Seven Hotels.  

 

Chef Graham Forbes

“This hotel is an extension of our presence in Northern California and marks our first opening this year with two more to come in 2023. 

 

 As the newest hospitality offering in the city, we expect the Hyatt House Sacramento to quickly take its rightful place as the segment and market leader for business and leisure travelers.”

Situated at 2719 K Street in the Sutter District, the pet- and family-friendly hotel is near Capital Mall, Crocker Art Museum and the Old Sacramento Waterfront. 


Crocker Art Museum, Sacramento, CA


Guest rooms are designed to mimic studio apartments, with kitchens in 87 rooms, ideal for extended stays. 

The Hyatt House also provides four suites with separate bedrooms, two of which are specialty owner suites featuring high ceilings and Restoration Hardware fixtures.


Hotel amenities include complimentary Wi-Fi, 24/7 fitness center, guest laundry, business center and 700 square feet of flexible meeting space.

 

Old Sacramento Waterfront

Guests can grab a quick snack at the Hyatt House’s grab-n-go sundry shop or a full morning meal at the complimentary breakfast bar. 

Additionally, guests and locals may dine at the Star Lounge, a full-service restaurant and bar, located on the hotel’s third floor.

Star Lounge continues the tradition of being a gathering place, offering happy hour, an inventive craft cocktail menu and dinner featuring small plates, burgers and steaks. 


Capital Mall, Sacramento, CA


The lounge is led by Chef Graham Forbesformerly the chef de cuisine at the Kimpton Sawyer Hotel.

The Romanesque Revival-style building first opened in 1928 as a Masonic women’s meeting place and is listed on the National Register of Historic Places. 


Star Lounge, Sacramento, CA

While keeping the major architectural features of the historic building intact, the renovation included the redevelopment of five floors within the original structure that includes the lobby, restaurant, fitness center and meeting space, as well as the addition of a new three-story annex that includes additional hotel rooms.  

The hotel’s history is incorporated throughout the building by using the original front doors, tables, plaster, brick and a repurposed pulpit as the host’s stand.

 

CONTACT:

 

Chris Daly, media

(703) 864-5553

chris@dalygray.com

 

www.247hotels.com

Sunday, February 12, 2023

Jon Grauman,With Sales Topping $230 Million, is Carving Big Real Estate Name for Himself in Beverly Hills, CA

Jon Grauman 

 BEVERLY HILLS, CA -- Jon Grauman is proving to be the go-to agent for sage advice - especially in volatile times. He is also becoming a household name through the new Netflix series Buying Beverly Hills  

 

He has made some notable deals. They include:

● Developed a modern/architectural home designed by acclaimed architect Hagy Belzberg that sold for $24 million

 


Hagy Belzberg


● Made a single sale for $75 million, the 10th highest sale in the history of Los Angeles

 

● Ranked among the top Realtors in the country and recognized by The Wall Street Journal, L.A. Business Journal, and Los Angeles Magazine.

For details on other Grauman deals, please contact:

 

 Susan Gold

323-839-8550 

https://www.susangoldconsulting.com

.

Northmarq arranges 1031 exchange of Magnolia Health & Wellness Center in Magnolia, TX

 

Riley Sharman

HOUSTON, TX—Riley Sharman, vice president in Northmarq’s Houston office, has completed the sale of an eight-tenant medical and retail strip center located at 827 Magnolia Boulevard in Magnolia, Texas. The price was not disclosed.

 

The 16,700-square-foot building is fully leased to a diverse mix of strong medical and service-oriented tenants.

 

Sharman represented the seller, a local owner. A 1031 exchange buyer based in Dallas-Fort Worth, Texas acquired the asset.

 

“The dental partners that I represented were able to maximize value by exercising a ‘partial sale-leaseback’ for their practices, and we ultimately provided them the opportunity to capitalize on a sale to an all-cash, buyer exercising a 1031 tax deferred exchange,” said Sharman.



“The interest and offer activity were high due to the long-term leases, strong lease guarantors, and extra acreage behind the strip center for future development, to name a few.

 

"This transaction demonstrates the increase in investor demand for multi-tenant medical strip centers we’re seeing throughout the Houston MSA and especially in high-growth areas like Magnolia."

 

The facility was built in 2012 and is situated on 7.66 acres in the city of Magnolia, an outdoor paradise of biking, hiking, golf, and more approximately 45 miles northwest of Houston.

 

Just across the street from the property is a proposed Magnolia Ridge Development which will bring over 200 homes to one of the best public-school districts in Texas.


Magnolia Health and Wellness Center, 
827 Magnolia Boulevard, Magnolia, TX.


With excellent visibility and multiple access points, Magnolia Health and Wellness Center boasts prime frontage on Magnolia Boulevard, seeing over 14,000 vehicles per day.

 

Tenants include Hillwood Family Dental Group, Simple Traditions Family Health, Hanigan & Johnson Orthodontics, and Endodontics of Houston.

 

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.Northmarq.com.

Saturday, February 11, 2023

JLL Capital Markets welcomes Nick Brown to its Nashville, TN Office

Nick Brown

  NASVHILLE, TN – JLL Capital has welcomed Director

Nick Brown to the Nashville office to build upon the multi-housing investment sales efforts within the Southeast region.

 

Brown joins John Weber, Bill Shippen and Vic Ciancetta in their focus to assist clients in the acquisition and disposition of assets in Tennessee, Alabama and Georgia.


John Weber
Brown also will work with Senior Managing Director Brian Dawson in the Nashville office, who specializes in debt and equity capitalizations. Dawson brings more than 30 years of capital markets experience and has completed over $30 billion in capital transactions.

 “We are very excited to have Nick join our expanding capital markets platform,” said Dawson. “His professionalism will serve him, and most importantly, our clients well.”

 

While in Chicago, Brown worked alongside Executive Managing Director and Investment Advisory Platform Leader Matthew Lawton on national multi-housing investment sales transactions.


Bill Shippen 
In H2 2022, Brown and Lawton executed $772 million in sales volume totaling 3,013 units, $547 million of which was in the Southeast.

 

“Nick was fabulous to work alongside in Chicago, and I am sure he will do great things in the burgeoning Nashville market,” said Lawton.

 

“The Nashville multi-housing market remains incredibly strong and is bolstered by tremendous population growth,” said Brown.

 

“The culmination of Nashville’s distinct culture, abundant opportunity, high quality of life and dynamic, business-friendly environment continues to attract residents and employers alike to flock to the city.”


Vic Ciancetta

Ranked #1 for metropolitan population growth by the U.S. Census Bureau, The Nashville market continues to pose strong fundamentals within the multi-housing sector.

 The unemployment rate in Nashville (2.5%) continues to outpace the national average (3.6%), and recent corporate expansions and relocations have contributed to the 23,800 average jobs created annually.

 

Additionally, owners are capitalizing on the strong market conditions within Nashville and continue to increase rents with the trailing 12-month rent growth figure of 16.3% outperforming the national average.


Matthew Lawton
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 and sales advisory, debt advisory, equity advisory or a recapitalization.

 

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

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

 

Contact:

 

 Jenna Sharp,

JLL Associate

 Public Relations

Phone: +1 214 394 3356

Email:  Jenna.Sharp@am.jll.com

 

Friday, February 10, 2023

Helsinki organizes a competition for the sale and redevelopment of the Old Customs House

 

 The Old Customs House in Katajanokka. Photo by Antti Pulkkinen


HELSINKI, FINLAND -- The City of Helsinki, Finland, has launched a tender competition to sell the Old Customs House in Katajanokka for redevelopment.

 

The goal of the competition is to find a technically and economically feasible and architecturally outstanding overall solution for redeveloping the building.

 


 With this competition, the City of Helsinki is hoping to find a suitable new owner with the resources required to renovate and redevelop the building. The final outcome will be determined by price.

Architectural and historic values a key consideration



Dating from 1901, the Old Customs House designed by Gustaf Nyström was considered architecturally meritorious when completed, and it plays an important role in Finland’s architectural history as a hallmark of late 19th century architecture.  




The two-storey building originally housed both cold and warm storage for customs warehousing, a customs chamber, and the transport office’s work and customer facilities.




Katajanokka is the unique east-facing side of Helsinki’s iconic South Harbour. The wharf structures and buildings in the harbour area, as well as the changes in their use, reflect the history of port operations over a period of more than a hundred years. The Old Customs House is a notable building in this setting.




A future plan for land use in Helsinki city centre envisages a thriving and engaging city centre in which Katajanokka is more closely connected to the Market Square. More attention will be paid to creating a pleasant pedestrian environment and a more functional street level.


Due to its significant value in terms of cultural history, cityscape and architecture, the Old Customs House will be protected in the new city plan. Preservation values provide the foundation for any redevelopment and future use.

Bidders are expected to propose a versatile concept with functions suitable for the building, such as business premises, offices, workspaces, restaurants, meeting spaces, or art and cultural facilities. 




And, at least the first floor should house services available to the public. Proposals featuring conceptual plans that meet the selection criteria specified in the competition programme and the minimum requirements specified for the concept will be selected for further consideration and a price bid. 

For proposals that meet the criteria, bid forms will be opened for submitting an indicative bid for the plot and the building.

Competition schedule

The competition was launched after the Urban Environment Committee approved the instructions for bidders and the competition itself. The deadline for tender submissions is 28 April 2023.

Gustaf Nyström

The objective is to propose a decision on the winner and on the principles regarding the transfer of the competition area to the Urban Environment Committee during 2024. After a decision has been made, a preliminary agreement on the transfer of the plot and the sale of the building will be signed with the winner of the competition. 

The project will require changes to the existing city plan. This process begins with a participation and assessment plan (“OAS” in Finnish, available publicly from 27 February to 17 March 2023) and continues in collaboration with the winner once the preliminary agreement comes into force. 

The winning proposal will serve as a basis for the new city plan. The aim is to bring a proposal for a new city plan to the Urban Environment Committee for consideration during 2025. 

Link to the competition programme (pdf): Tender competition for the Old Customs House

CONTACTS:

Katharina Mead
Senior Specialist
The City of Helsinki
Urban Environment Division
Land Property Development and Plots Service
Tel. +358 9 310 25452
katharina.mead@hel.fi

City of Helsinki, Urban planning and construction

 (Photographer Antti Pulkkinen)


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.”

SomerCor Names Margy Sweeney Board Chairman

 

 Margy Sweeney

 CHICAGO, IL - SomerCor, a non-profit, Certified Development Company (CDC) licensed by the Small Business Administration (SBA) under the SBA 504 loan program, is proud to announce the appointment of, Margy Sweeney Founder & CEO of Akrete, as the new Chairman of its Board of Directors.

 Thomas Huffman, Executive Vice President - Wintrust SBA Lending, will serve as Vice Chairman.

Thomas Huffman

“I look forward to working with Margy and Tom to build upon SomerCor’s growth and service to small businesses and lending partners through the SBA 504 program and our other economic development initiatives,” said Manuel Flores, President and CEO of SomerCor.

 Manuel (Manny) Flores

“We also thank our Chairman Emeritus, Jon Winick, for his many years of service as Chairman. Over the last few years, SomerCor has achieved significant milestones including receiving SBA Accredited Lender Program (ALP) designation and Local Economic Area (LEA) authority to lend in Kenosha and Rock counties in Wisconsin.”

Jon Winick

Sweeney is the Founder & CEO of Akrete, a WBE national public relations, content, and marketing agency with expertise in both real estate and financial services, including ranking as the nation’s #5 real estate public relations firm. Margy has served on the SomerCor board since 2016.

 

Huffman is the EVP of Wintrust SBA Lending and has over 35 years of experience in commercial and SBA lending and he has served on the SomerCor board since 2018. Wintrust Community Banks was named the number one SBA lender in Illinois in 2022.

 

Winick is the CEO of Clark Street Capital, a full-service bank advisory firm specializing in loan sales, loan due diligence and valuation, and specialty asset management. Jon has over 20 years of banking experience and has served on SomerCor’s Board for 15 years.

 

“I’m proud of the journey SomerCor is on to support an increasingly diverse set of small businesses. As a business founder and owner myself, I welcome the opportunity to lead this Board of Directors,” said Sweeney. 


“Access to capital can mean the difference between surviving and thriving for many entrepreneurs—particularly for woman, minority, and veteran-owned businesses. 


"I’m pleased to play this leadership role in 2023 as the SomerCor team continues their great work expanding economic opportunities and helping small business owners make their dreams a reality.”



Other Board Members include Dean Avdalas (SVP, Commercial Lending - Byline Bank), Jeffrey Bronswick (CEO - Bronswick Benjamin P.C.), James Bruno (VP, Area Manager - JPMorgan Chase), Brian Burke (SVP, Commercial Banking – Old National Bank), Erica King (President - Greenwood Archer Capital), Santiago Martinez (Regional President - Belmont Bank & Trust).


Erica King

Also: Michael Martino (Head of Chicago Emerging Middle Market Banking - Fifth Third Bank), Michael Plumb (Principal - Lee & Associates of Illinois, LLC), William Towns (National Market President for Community Revitalization - Gorman & Company), Julie Winterbauer (SVP, Marketing and Member Relations - Illinois Bankers Association) and Simon Yohanan (SVP, Managing Director of Middle Market Banking - First Bank Chicago).

 

Julie Winterbauer 


About SomerCor

 

The SomerCor mission is to grow businesses, create jobs, and increase impactful investment in every community through the SBA 504 loan program and other financing and grant initiatives.

 

SomerCor serves the entire state of Illinois and Kenosha and Rock counties in Wisconsin. For more information visit www.somercor.com

 

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.”