Rezidor Announces New Radisson Resort in Saïdia/Morocco

MEDITERRANIA SAIDIA, MOROCCO--The Rezidor Hotel Group announces the Radisson Resort & Spa Saïdia in Morocco – the property featuring 384 rooms and 97 villas is scheduled to open in Q3 2010.

“With this signing we are adding a new and emerging country to our pipeline and are now present in 53 countries across EMEA”, comments Kurt Ritter, (top right photo) President & CEO of Rezidor. “In the Middle East and Africa we now have 47 hotels with almost 11,500 rooms in operation and under development – a clear sign for our commitment to this region.”

The Radisson Resort & Spa Saïdia is a common project between Rezidor and Property Logic, the developer behind Le Jardin de Fleur resorts in Morocco.

"We are delighted to partner with such an important international brand as Radisson because of its outstanding quality and services that are renowned in the industry.

"Our companies share a common vision for luxury standards that will make the Saïdia resort a world class tourism destination,” said Mr. Joop Huisman, Managing Director of Property Logic.

Mediterrania-Saïdia is located on the northeast Mediterranean coast of Morocco and famous for its 6 kilometers of unspoiled coastline.

Besides its luxury suites and villa residences the Radisson resort will offer 4 restaurants, 3 bars, a Moroccan-themed Spa and Thalasso centre comprising 1,500 square meters, 5 outdoor pools, 1 indoor pool, 2 fitness centers, a kids club, shops, tennis courts, an amphitheatre and a beach club. The resort’s 1,500 square meters of meeting and conference facilities will make it ideal for business and leisure travelers alike.

The Rezidor Hotel Group is one of the fastest growing hotel companies in the world. The group features a portfolio of over 330 hotels in operation and under development with more than 68,000 rooms in 53 countries.

Rezidor operates the brands Radisson SAS Hotels & Resorts, Regent Hotels & Resorts, Park Inn and Country Inns & Suites in Europe, Middle East and Africa, along with the goldpoints plusSM loyalty programme for frequent hotel guests.

Rezidor has signed a worldwide license agreement with the Italian fashion house Missoni, in order to develop and operate a lifestyle hotel brand of the same name: Hotel Missoni.

In November 2006, Rezidor was listed on the Stockholm Stock Exchange. With 42%, Carlson Companies is the main shareholder.The Corporate Office of the Rezidor Hotel Group is based in Brussels, Belgium.

For more information on Rezidor, visit http://www.rezidor.com/.

CONTACT:

Christiane Reiter, Phone: +32 2 702 9331. Email: Christiane.Reiter@Rezidor.com

The Rezidor Hotel Group, http://www.rezidor.com/

Avenue du Bourget 44Brussels, 1130, Belgium. Phone: +32 2 702 9200. Fax: +32 2702 9300. Email: info@rezidor.com

Baymont Brand Has Grown More than 50% with Opening of 200th Property

PARSIPPANY, N.J. Baymont Inn & Suites® officials today celebrated the opening of their 200th property and announced that the brand has grown 52 percent in size since its acquisition by Wyndham Hotel Group two years ago.

The 200th Baymont property is a 60-room, new-construction hotel in Huntsville, Ala., (top right photo) owned by Bharatkumar Darji, who has been affiliated with Wyndham Hotel Group’s brands as a franchisee since 1999.

“In just two years, the Baymont brand has increased its size by 52 percent,” said Patrick Breen, (middle left photo) brand senior vice president, Baymont Franchise Systems. “As a result, we’re seeing a great deal of enthusiasm as the brand grows from its Midwestern roots and into new markets in the southern and western states.”

“We continue to see significant interest from developers, owners and operators,” Breen said, adding that more than 60 percent of currently approved franchise agreements represent new-construction hotels.

Later this year, the Baymont brand will complete systemwide upgrades including new mattresses and box springs, improved bed linens, bed toppings, hair dryers, multifunction shower heads, curved shower rods, hookless shower curtains and upgraded towels and washcloths.

Baymont Franchise Systems, a member of the Wyndham Hotel Group family of lodging brands, a chain of midscale hotels.

Reservations and information are available by calling (877) 229-6668 or by visiting http://www.baymontinns.com/. Baymont Inn & Suites hotels are independently owned and operated under franchise agreements with Baymont Franchise Systems, a subsidiary of Wyndham Worldwide Corporation (NYSE: WYN).

CONTACT:

Christine Da Silva, Director, Media Relations Wyndham Hotel Group, United States. Wyndham Worldwide, 1 Sylvan Way, Parsippany, NJ 07054. Phone: +1 (973) 753-65901.

Email: Christine.DaSilva@wyndhamworldwide.com

http://www.wyndhamworldwide.com/

NAI Realvest Negotiates New Retail Lease in Orange City,FL

MAITLAND, FL – NAI Realvest has negotiated a new retail lease at 2407 East Graves Ave. in Orange City.

Mez Birdie, CCIM, director of retail services for NAI Realvest, negotiated the lease representing the landlord.

Living Faith Christian Center has leased 7,200 square feet for five years at the Village Square Shopping Center.

For more information, contact:

Mez Birdie CCIM, Director of Retail Services, NAI Realvest, 407-875-9989 mbirdie@realvest.com

Janice Paiano, Director of Marketing NAI Realvest jpaiano@realvest.com

Larry Vershel or Beth Payan, LV Communications, 407-644-4142

Marcus & Millichap Lists 32,702-SF Retail Center in Puyallup, WA for $12.2M

PUYALLUP, WA -– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for the South Meridian Retail Center, a 32,702-square foot retail assetcenter in Puyallup, WA.

The listing price of $12.2 million represents $373 per square foot.

Joel Deis, Michael Morgan, Joshua MNelson and Chris Secreto, all investment specialists in the Seattle office of Marcus & Millichap, are representing the seller, South Meridian Properties LLC.


“This property presents a is a rare opportunity for an investor to acquire a turn keyturn key asset featuringwith below- market rents in one of the most sought-after regions of the state.


The property also benefits from the most sought after and stable retail market in which it is locateds,” says Secreto.

Located at 18710 Meridian Ave. East, the retail center is situated on a 5.35-acre lot, boasting 618 feet of frontage on Meridian Avenue East and traffic counts in excess of 35,000 cars per day. Residential developers are expected to deliver more than 5,000 new homes to the immediate area during the next two years.

Built in 2006, the retail center features a strong mix of local, regional and national tenants, including Destination Harley-Davidson, Gotta Store It/Mail It, Malibu Tanning, Pizza Hut, Rainier Family Physical Therapy, The Gun Shop and Windermere Real Estate.

Press Contact: Stacey Corso
Communications Department
(925) 953-1716

Tilt-Con Completes New Sawgrass Pointe II Office Building in Sunrise, FL

SUNRISE, FL – Orlando-based Tilt-Con Corporation completed the new 3-story, 94,353-square-foot Sawgrass Pointe II office building located on N.W. 12th Street in Sunrise, FL, under its contract with Duke Construction, Orlando, FL.

Selected for its unrivaled performance and speed of execution, Tilt-Con utilized its economical system for multi-story tilt-up concrete walls.


Ranked as Florida’s largest tilt-up concrete constructor by Engineering News-Record magazine, Tilt-Con’s scope of work included foundations, slab-on-grade, tilt-up concrete wall panels and elevated decks.

The project was designed by RLC Architects, Boca Raton.

CONTACT:
Kenneth H. Cristol, President, Cristol Marketing Company237 Hunt Club Blvd., Suite 102, Longwood, FL 32779 USA PH 407-774-2515 FX 407-774-6647. Strategic Marketing, Brand Management, Publicity and Advertising, and Corporate Communications.
khc@crismktg.com
http://www.crismktg.com/

Hotel Performance and NBA Champions

ATLANTA, GA – Should anyone really be surprised about this year's old-school NBA finals matchup? Not if they've been tracking the health of the hotel industry.


According to PKF Hospitality Research (PKF-HR), the nation's leader in hospitality research and consulting, there is a strong relationship between hotel industry data and the NVA championship.


Hotel performance measures such as occupancy, room rates, and profits
historically have proved to be accurate predictors of the NBA champions. In the years when the Celtics or Lakers have been champions, the performance of the U.S. hotel industry was surprisingly similar.

The 2007-2008 NBA season marks the 11th time that the Lakers and Celtics have met in the finals. These two historic franchises have combined to win 30 of the 61 NBA championships (soon to be 31 of 62). PKF-HR has been collecting data on hotels since 1930, or 17 years before the first professional basketball championship was played.


Mark Woodworth, (top right photo) president of PKF-HR, explains, “Being a Celtics fan, I wanted to get a better handle on the likely outcome of the series.” Woodworth noted that the correlation between PKF’s data and the NBA playoffs has significant historical precedence. When either the Celtics or Lakers have won the NBA championship, national hotel occupancy has historically decreased.

In their most recent Hotel Horizonssm forecast report, PKF-HR reaffirmed their prediction of a national decline in hotel occupancy for the year end 2008. The reliability of PKF-HR’s hotel data does not end there.


The average annual change in profits for the hotel industry in the 10 years that the Celtics and Lakers have met was 3.1 percent. PKF-HR forecasts that in 2008, profits will increase by 2.9 percent, leading the firm to suggest that these Hotel Performance and NBA Champs 2 June 12, 2008
numbers are more than coincidence.



“We really should not have been surprised
to see the Celtics and Lakers back in the finals. Two plus two equals four as far
as I know,” Woodworth said.

The real question on everyone’s mind is who will be this year’s champion.


“At the risk of offending our clients and colleagues in Los Angeles, all trends
point towards Boston being this year’s NBA champion,” concludes Reed
Woodworth, (top left photo) vice president of the PKF Consulting Boston office. “National hotel occupancy is expected to decline this year, and of the eight times Boston has beaten the Lakers, occupancy decreased in five of those years.

“To make Boston fans feel even more confident, we need look no further than the annual change in room rate,” Reed added. “In the years that Boston has beaten the Lakers, rates increased by 3.9 percent.

"When Boston has won an NBA
championship against any team, the hotel industry reported a 4.0 percent
increase in rates. This year PKF-HR is forecasting a 4.1 percent increase in
room rates, almost an identical match. Sorry, Lakers fans.”

Bruce Baltin, (middle left photo) senior vice president of the PKF Consulting office in Los Angeles, jokes, “I still expect the Lakers to win. But even if they lose, from a hotel owner’s
perspective, I am happy to be in Los Angeles, where hotel revenue is projected
to grow at twice the rate expected for Boston hotels in 2008.”


“Lest anyone think that I was able to influence how the data was interpreted, we
had a Knick fan, my colleague Robert Mandelbaum,(director of research information services) check the numbers,” Woodworth added.

Contacts:

Mark Woodworth, President, PKF Hospitality Research, 3475 Lenox Road, Suite 720, Atlanta, GA 30326. 404 842 1150, ext. 222.

Chris Daly or Jerry Daly (media), Daly Gray Public Relations, 620 Herndon Parkway, Suite 115, Herndon, VA 20170. 703 435 6293.

Marcus and Millichap Sells Mixed-Use Building in Prime Midtown Manhattan Location for $4.2M

NEW YORK, N.Y.– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of a 5,000-square foot mixed-use building (above photo) at 41 East 41st St. between Park and Madison avenues in Manhattan. The sales price of $4,225,000 represents $845 per square foot.

Peter Von Der Ahe, (top right photo) an associate vice president investments in the Manhattan office of Marcus & Millichap, and Scott Edelstein, (top left photo) an investment specialist also in the firm’s Manhattan office, represented the seller, Twin 41 Realty LLC, and the buyer, 41 East 41st Street Holding LLC.

“This mixed-use asset is located in the heart of Midtown Manhattan, steps from Grand Central Station and a block from Bryant Park,” says Von Der Ahe. “Through rent growth or conversion to office space, this property is expected to appreciate rapidly in value, presenting excellent upside potential to the new owner. Because of its prime East Side location, this asset can be converted to a variety of uses, including office, consulate/government or retail space.

Located at 41 East 41 St., the five-story building consists of three large multi-family units and two commercial units. The property is situated on a 20-foot by 52-foot lot.

“Supply and demand trends in Midtown have remained positive despite the recent downturn impacting the rest of the country, and this asset’s proximity to the United Nations complex makes it perfectly suited for use as a small embassy or other diplomatic building. Just a block from the Fifth Avenue retail corridor, this property could also be repositioned as a flagship retail location,” Von Der Ahe adds.

Press contact:

Stacey Corso, Communications Dept., 925 953 1716 SCorso@marcusmillichap.com

Stirling Sotheby's International Realty to Host Absolute Auction of 46 Luxury Condominiums June 21 at Siena in Downtown St. Petersburg

ST. PETERSBURG, FL --- Stirling Sotheby’s International Realty will conduct an absolute auction Saturday, June 21, to sell 46 luxury condominiums at Siena Downtown, (above photo) located at 555 3rd St. North in St. Petersburg.

The auction will begin at 11 a.m. at Siena Downtown and bids will be accepted live, online and via telephone. Roger Soderstrom, (top right photo) founder and owner of Stirling Sotheby’s International Realty in Orlando, said that with no reserve bids or minimum bids, the auction will establish a firm and accurate market price for condominiums in the area.

Siena Downtown features one and two-bedroom condominiums that range from 468 square feet of living space to 937 square feet.

Its close proximity to Tampa Bay and downtown waterfront parks, restaurants, cafes and shopping makes Sienna Downtown a perfect vacation getaway, Soderstrom said.

The condominium community has been totally renovated to include upgraded finishes, cabinetry, stainless steel appliances, and granite countertops, Soderstrom said. Soderstrom said Siena Downtown condominiums were last offered at prices ranging from $135,000 to $262,000. For more information, visit http://www.auctionsbystirling.com/ or call Lori Chipps, director of Auction Services, 1-800-327-1048.

For media information, please contact:

Lori Chipps or John Chips, Auction Services, Stirling Sotheby’s International Realty 407-588-1260;

Roger Soderstrom, Owner/Founder Stirling Sotheby’s International Realty 407 588-1260

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

HFF Named to Market Sale of Preserve at Cress Creek in Naperville, IL

CHICAGO, IL – The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has been named to market for sale Preserve at Cress Creek, (above photo) a 474-unit multifamily community located in Naperville, Illinois.

HFF senior managing director Matthew Lawton, (top right photo) managing director Marty O’Connell (middle right photo) and director Sean Fogarty (middle left photo) will lead the investment sales team on behalf of the seller, Waterton Associates, LLC.

The property is being listed without an asking price and is subject to Freddie Mac debt that is to be assumed by the purchaser.

Situated in a 28-acre pond setting at 701 Royal St. George Drive, the Preserve at Cress Creek is located near downtown Naperville, approximately 30 miles southwest of Chicago.

The property has six residential buildings with one- and two-bedroom units averaging 934 square feet each. Community amenities include a clubhouse, fitness center, business center, laundry facilities, swimming pool and 72 detached garages.

The Preserve at Cress Creek underwent a $4 million renovation between 2000 and 2003, which included exterior improvements, common area upgrades and apartment home renovations.

Additionally, over the past two years, the property has undergone further renovation to exterior and interior areas including added upgrades to select apartment homes.

“The Preserve at Cress Creek presents an opportunity to enter the Naperville market with a strong rental product and one that gives an investor further opportunity to add value,” said Lawton.

“Naperville’s market continues to see a decline in apartment homes as there are currently five conversions underway that when completed will further reduce the apartment supply by 586 homes with no new supply in the pipeline.”

Waterton Associates was founded in 1995 and has acquired multifamily properties and other property types over the past 13 years and has completed over $2 billion in real estate investments to date.

Since its inception, Waterton Associates has acquired in approximately 40,000 apartments in 106 properties in most major metro areas in the U.S.

CONTACTS:

Matthew D. Lawton, HFF Senior Managing Director, 312 528 3650, mlawton@hfflp.com

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com

Marcus & Millichap Closes $8.75M Multi-Family Property Sale in New York City

NEW YORK, N.Y. – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of four 5-story apartment buildings consisting of 87 units (above photo) in Manhattan.

The selling price of $8.75 million represents $100,575 per unit.

Peter Von Der Ahe, (top right photo) a senior associate in the Manhattan office of Marcus & Millichap, and Scott Edelstein,(middle left photo) an investment specialist also in the firm’s Manhattan office, represented the seller, Norman Steele. Marcus & Millichap also represented the buyer, Heritage Realty LLC.

“The seller sold this prime property after more than 20 years of ownership, which will allow the new owner to create value through rent growth,” says Von Der Ahe.

Located at 575-587 W. 177th St., the 48,350-rentable square foot property consists of four 5-story buildings situated on a 148-foot by 94-foot lot between St. Nicolas and Audubon avenues.

The asset features a strong mix of 46 one-bedroom, 20 two-bedroom and 21 three-bedroom units. “Average rents are just over $700, leaving ample upside for this investor to increase the NOI,” comments Edelstein.

Press Contact: Stacey Corso
Communications Department
(925) 953-1716

CBRE Global In-Sight Web Meeting June 20

Global In-Sights: United States

Please note that there is a maximum attendance of 200 people for this meeting. Access is granted on a first come basis.

BOSTON, MA--CBRE provides capital and property market analyses to its clients through multiple avenues. One such avenue is CBRE's Global In-Sight web-meetings, a series of presentations on the economy of major global markets.

Raymond Torto, (top right photo) CBRE's Global Chief Economist, hosts each web meeting and sets the stage for the presentation.

This presentation features Jon Southard, (middle left photo) Principal and Director of Forecasting at CBRE Torto Wheaton Research who will opine on the current state of the economy, the capital markets and the outlook for commercial real estate.

Please join Jon Southard and Raymond Torto to discuss the US Economy and Real Estate Outlook on Friday, June 20, 2008, at 14:00 GMT (10:00 am EDT)

AGENDA:

• US within a Global Perspective

• Capital Markets Flows and Pricing

• Property Fundamentals

• Q & A Duration: 60 minutes


For computer issues accessing the meeting, please contact Live Meeting Technical Support at (866) 493-2825 (Toll Free) or (650) 526-6950 (International Toll)

Marcus & Millichap Secures $13.19M Listing for Tutor Time Child Care Center in Phoenix

PHOENIX, AZ-– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for a 20,032-square foot child care center leased to Tutor Time Child Care in Phoenix. The listing price of $13.19 million represents $658 per square foot.

Jamie Medress, (top right photo) a vice president investments and senior director of Marcus & Millichap’s National Retail Group in Phoenix, and Adam Goldberg, an investment specialist also in the firm’s Phoenix office, are representing the seller.

“This offering presents an investor with the opportunity to acquire the lease to newly developed commercial property in a thriving Phoenix submarket,” says Medress.

Located at 24745 North 23rd Ave., on the corner of Happy Valley Road and North 23rd Avenue, the single-tenant building is situated on 2.2 acres, just off Interstate 17.

Built in 2006, Tutor Time Child Care, which provides early childhood education in 125 corporate and 75 franchise schools nationally, has signed a 22-year absolute triple-net lease with corporate guarantee and two five-year options.

Press Contact: Stacey Corso
Communications Department
(925) 953-1716