Thursday, October 9, 2008

Cuhaci & Peterson Wins Winn-Dixie and Food Lion Contracts

Remodeling Project For Food Lion Store in Selma, N.C. Will Total 30,000 SF

ORLANDO, Fla. – Cuhaci & Peterson Architects, based in Orlando’s Baldwin Park, has been awarded a contract to design the remodeling of a 30,000 square foot Food Lion supermarket located in Selma, N.C.
Lonnie Peterson, (top right photo) chairman at Cuhaci & Peterson Architects, said the facility is being developed by Food Lion and is in the design stage now.

Three Winn-Dixie Store Jobs Each Total 48,000 SF

The company also has a contract to design Three Florida Winn-Dixie Remodeling Projects in Pasco, Marion and Citrus Counties

The three remodeling projects, which are located at retail centers in Zephyrhills, Dunnellon and Beverly Hills, Fla. are all 48,500 square foot Winn-Dixie facilities, Peterson said.

For more information, contact:
Lonnie Peterson, Chairman Cuhaci & Peterson Architects, 407-661-9100;
Jed Downs, President Cuhaci & Peterson Architects, 407-661-9100;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Arbor's Stephen York Closes Five DUS® Loans Totaling $16,206,700

UNIONDALE, NY, Oct. 8, 2008-– Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of five (5) loans totaling $16,206,700 under the Fannie Mae DUS® product line.

The loans were originated by Stephen York, (top right photo) Director, in Arbor’s full-service Uniondale, NY lending office. “We were very pleased with the recent funding of these transactions,” said York. “We look forward to our continued success with each of these clients.”

The loans include:

Park East Apartments, (bottom left photo) Valdosta, GA – Acquisition of a 100-unit complex in the amount of $3,186,200 under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.24 percent.

Park at Walkers Landing Apartments, Magnolia, TX - Acquisition of a 64-unit complex in the amount of $2,065,800 under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.25 percent.

Wellington Green MHC, Clarksville, IN - A loan for 319-unit complex in the amount of $6,790,700 under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.48 percent.

Sherwood Arms, (middle right photo) Columbus, GA - Refinance of a 165-unit complex in the amount of $2,000,000 under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.48 percent.

Wilshire Apartments, Dorchester, MA – Refinance of a 29-unit complex in the amount of $2,164,000 under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.78 percent.

Contact: Ingrid Principe, Tel: (516) 506-4298
mailto:iprincipe@arbor.comm

HFF secures $18.25M financing for One Beach Street in San Francisco

SAN FRANCISCO, CA – The San Francisco office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it secured $18.25 million in financing for One Beach Street, (top right photo) a 97,614-square-foot, three-story office building in San Francisco, California.

Working on behalf of The Swig Company and Angelo Gordon & Company, HFF managing director Bruce Ganong placed a 65% loan to value, non-recourse bridge loan with John Benson of Washington Mutual.

The financing was secured to recapitalize Swig’s all-cash purchase of the historical office building earlier in 2008. The loan closing coincided with the formation of the joint venture between Swig and Angelo Gordon.

Built in the 1920s, One Beach is located across The Embarcadero from Pier 39 in the North Waterfront submarket of San Francisco.

The property is currently 100% leased and has views of San Francisco’s waterfront and some of the city’s most famous landmarks including Coit Tower, Fisherman’s Wharf, Alcatraz and the Golden Gate Bridge.

(Middle right photo: Rincon Park and Cupid's Span with the San Francisco skyline and The Embarcadero in the background.)

“Closing this financing in such a turbulent market is a testament to the quality of the asset and the sponsorship behind the transaction.


"Credit for the closing is also deserved by Washington Mutual and its team, which displayed a high degree of professional integrity at a time when there was a lot of uncertainty in the capital markets,” said Ganong.

The Swig Company’s San Francisco Bay Area portfolio includes 15 buildings totaling more than 3.5 million square feet and a market value in excess of $1.2 billion.

Angelo, Gordon & Co. is a privately-held registered investment advisor dedicated to alternative investing. The firm was founded in 1988 and currently manages, with its affiliates, approximately $20 billion.

CONTACTS:
Bruce Ganong, HFF Managing Director, 415 276 6940, bganon@hfflp.com
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com

Gemstone Hotels & Resorts Selected to Concept and Manage Two New Boutique Hotels


Firm Steps up Activity in Creating One-of-a-Kind Boutique Hotels & Resorts

PARK CITY, UT—Officials of Gemstone Hotels & Resorts, a full-service hotel management and asset management company that specializes in luxury and upscale urban hotels and complex, multi-faceted resorts, has entered into agreements with two separate development groups to concept and manage two new luxury properties.

The Historic Hilltop House Hotel (top right photo) in Harpers Ferry will be completely redeveloped and transformed into a luxury hotel and spa, and the Hotel Ithaca in Ithaca, New York will be Ithaca’s first high-end boutique hotel and one of only two luxury boutique hotels in the Finger Lakes region.


“We have been involved in the concepting of numerous unique, highly successful properties over the years, and these two new projects will be among the most fascinating,” said Thomas Prins, (middle left photo) Gemstone principal.

“We have established a proven track record of creating one-of-a-kind destination properties whose uniqueness gives them a long-term sustainable competitive advantage. We will work on the creation of these new properties in harmony with our partners to create a singular experience for our guests, both in the physical attributes and the high-touch service we will provide.

“We specialize in creating and operating boutique four- and five-star level urban hotels and complex resorts that feature multiple facets, such as spas, retail, and exclusive restaurants,” he noted.

“In this phase of the hotel real estate cycle, we are focused more on development and concepting, working with our partners seeking to create a unique and highly profitable hotel experience, when most other developers and investors are on the sidelines.”

The Historic Hilltop House Hotel & Spa
Located in Harpers Ferry at 400 East Ridge Street in the Historic District recently featured on the television program, Good Morning America, The Historic Hilltop House overlooks Harpers Ferry National Park, at the confluence of the Potomac and Shenandoah Rivers.

After the completion of the restoration and modernization of the property, the 150-room hotel will feature a signature restaurant, unique meeting and event spaces and a destination spa that will feature both indoor and outdoor experiences.

“This will arguably be the finest destination hotel in the region,” said Gemstone principal Jeff McIntyre. (bottom left photo) The historic United States Armory houses surrounding the hotel will be carefully restored to serve as guest cottages and the hotel will be brought up to the latest 21st century standards.

The property will be a natural for small group meetings, social events, romantic getaways, and guests who want to experience the many nearby attractions.”

Scheduled to open in 2011, the property is in the heart of Northern Virginia wine country, near major historic Civil War battlefields, and connected to the historically significant Harpers Ferry town center, with a riverside location offering breathtaking vistas. The property is serviced by rail and highway and is about an hour from downtown, Washington, D.C.

Hotel Ithaca
Hotel Ithaca, currently in final planning and approval, is expected to open in 2011. The property will be a nine-story, full-service boutique hotel at the intersection of State and Aurora Streets.
The hotel will feature 125 luxury rooms and suites and 2,000 square feet of flexible meeting space. The hotel will be built on the same site as the original Hotel Ithaca. In addition, the hotel will be the home of the original Zinck’s Bar, a cherished icon of the city’s past.

(Left photo: Zinck's Log Cabin, Pleasantville NJ, 1941. Machines include Bally's Rapid-Fire (1941) and a Wurlitzer 850 "Peacock" jukebox. R.Bueschel)

“We welcome the opportunity to be involved with the first luxury boutique hotel in the Ithaca area,” said Prins. “Because the city is also home to the world renowned Cornell Hotel School, we are very excited to set a new standard in concept and operations and set an example for students and the many hotelier alumni who visit the school.”

About Gemstone Hotels & Resorts
Headquartered in Park City, Utah, with an office in Stamford, Conn., Gemstone Hotels & Resorts is a full-service management and asset management company that specializes in luxury and upscale urban hotels and complex resorts.

The company is engaged in resort and unique hotel marketing and management and asset management for a variety of major hotel real estate investors and owners. Gemstone currently manages or asset manages more than 20 projects. Additional information about the company may be found at http://www.gemstoneresorts.com/.

CONTACTS: Jerry Daly or Chris Daly, media, 703 435 6293

Heidrich Closes Four Leases for NAI Realvest in Metro Orlando

ORLANDO, FL--NAI Realvest recently negotiated the following lease agreements.

Tom Kelley, (top left photo) CCIM represented the landlord, Parliament Loop, LLC of Lake Mary in negotiating a new lease of 2,725 square feet to Trinity Mortgage Corp. at 153 Parliament Loop at Regency Pointe office park in Lake Mary.

• Kelly also negotiated two lease renewals totaling more than 2,500 square feet of office space representing Dallas-based landlord Tarragon Corporation at Orlando Central Park. Managed Medical Equipment, Inc. renewed its lease of 1,909 square feet and Florlando Properties, Inc. renewed its lease of 605 square feet.

• At Goldenrod CommerCenter, (middle right photo) 1460 N. Goldenrod Rd. in Orlando, Orlando-based Central Florida Sign Works, Inc. and Interstate Sign & Light Corp. renewed the lease of its current 2,206 square feet in suite 225 and expanded into suite 105 with the lease of 2,000 additional square feet at the center. Michael Heidrich (top right photo), principal at NAI Realvest negotiated the lease agreements representing the landlord, COP-Goldenrod, LLC of Maitland.

• Also at Goldenrod, Heidrich negotiated a new lease on behalf of landlord, with Felo’s Brothers Enterprises, Inc. of Orlando who will occupy Suite 125 with 2,000 square feet.

• At Monroe CommerCenter South, (bottom left photo) 691 Progress Way in Sanford, Heidrich represented COP-Monroe LLC in the lease of 6,000 square feet to Deltona-based Nu Water Solutions of Florida, LLC.

• In Orlando Heidrich negotiated a lease agreement for 1,440 square feet of industrial space at Herndon Commerce Center, 625-D Herndon Ave. representing the landlord LBJ Properties of Winter Park. The tenant, Orlando-based P.T. Hutchins Company Ltd., was represented by Lou Payas of USAA Realty Company.

About NAI Realvest

NAI Realvest, with offices in Orlando, Daytona Beach and Clermont, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide.

NAI Global is an international commercial real estate network with over 325 offices spanning the globe.
Since 1978, clients have built businesses on the power of NAI Global’s expanding network.

Extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services.

To learn more, visit http://www.nairealvest.com/.

For more information, please contact

Tom Kelley, CCIM, Principal NAI Realvest 407-875-9989 tkelley@realvest.com
Michael Heidrich, Principal, NAI Realvest 407-875-9989 or mheidrich@realvest.com
Janice Paiano, Director of Marketing, NAI Realvest, 407-875-9989 or jpaiano@realvest.com;
Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

Wednesday, October 8, 2008

RECI Says 'Mission Money' Keeps Commercial Realty Markets Afloat


CHICAGO, IL, Oct. 8, 2008 - Swooning financial markets continue dislodging all sectors of real estate capital with a vengeance.

Funding sources retreat from income-property lending on a daily basis because of liquidity concerns, profitability, overexposure and a host of other factors plaguing this sector.

No conventional lenders are immune including banks, life insurance companies, savings institutions and private funding sources.

Yet a few bright stars shine in the otherwise pitch-dark capital markets.

These stars are lenders with funding goals and objectives that are not exclusively driven by profits.

The Real Estate Capital Institute identifies this group of funding sources as "Mission Money" who provide "Policy Proceeds."

According to John Oharenko, (top right photo) an industry veteran serving on the advisory board of The Real Estate Capital Institute® and senior vice president at Chicago-based Capmark Finance Inc., "In 2009 and 2010, Mission Funds will play an even more important role in supporting real estate capital markets as many conventional funds stay sidelined.”

He adds, ” Even as conventional markets recover, Mission Money will remain a reliable source of funds for developers, investors and others willing to learn about and implement these targeted programs."

The four highlights of Mission Money are as follows:

1. Purpose: Mission fund objectives vary focusing on public policy (e.g., affordable housing, urban renewal), labor creation, specific geographic investing and property types to name a few.

Typical examples include generating jobs through union labor funds, constructing affordable apartments and reinvigorating economically deprived commercial areas.

Often times, many of these objectives are bundled - e.g., affordable housing with union labor in redeveloping urban "infill" areas endowed with heavy tax incentives.

2. Property Types: Unlike pure non-profit funding sources, Mission Money exclusively targets income properties, namely commercial and multifamily properties.

3. Policy Proceeds: Direct funding structures include construction, interim and permanent loans as well as equity contributions. Popular indirect fundings include tax credits, tax breaks and rebates.

4. Sources: The lending arena includes federal governmental agencies (e.g. Freddie Mac, Fannie Mae, FHA and the Treasury) and local municipalities (tax increment districts), endowments, pension funds, life companies and private capital providing funds directly (construction and permanent funds) and indirectly (tax credits).

ABOUT US:

The Real Estate Capital Institute® is a volunteer-based research organization tracking debt and equity rate data. The Institute posts daily and historical rates including treasuries and short-term rates. The Real Estate Capital RateLine 7RE-CAPITAL (773-227-4825) provides hourly updates.

CONTACT:

The Real Estate Capital Institute®
3517 West Arthington Street
Chicago, Illinois USA 60624
Contact: Nat Zvislo, Research Director
Toll Free 800-994-RECI (7324)
director@reci.com / http://www.reci.com/

Davis Marcus Partners Signs Tygris Commercial Finance to Wilton Corporate Park's 40 Danbury Road

The First Green Office Building in Fairfield County Signs Second Tenant

WILTON, CT/PRNewswire/ -- Davis Marcus Partners, one of New England's leading real estate development companies, has signed Tygris Commercial Finance (Tygris), a commercial finance company, to a long term lease to occupy 14,687 square feet of space at the newly completed and environmentally sustainable 40 Danbury Road. (top right photo)

The first Gold LEED (Leadership in Energy and Environmental Design) pre-certified office building in Connecticut, 40 Danbury Road is set within the 33 acre landscaped office campus at Wilton Corporate Park (middle left photo) and located at the center of Fairfield County's Route 7 corporate corridor.

Tygris becomes the second tenant to occupy space at the 161,222 sq. ft., three story, Class A office building. Louis Dreyfus Corporation, the first tenant, occupies the entire top floor.

"Despite the slowdown in the overall commercial real estate market, we are seeing a great level of interest and activity around Wilton Corporate Park," comments David Fiore, senior vice president for Davis Marcus Partners.

"We are very encouraged and believe our LEED standards combined with our flexibility to accommodate both large and small tenants make Wilton Corporate Park one of the most desirable office building complexes in the market."

Albert B. Ashforth, Inc of Stamford, CT is the leasing agent for Wilton Corporate Park, and is represented by Jeffrey H. Gage and Edward Tonnessen. (middle right photo) Tygris was represented by Tom Pulie of USI Real Estate Advisors.

"The emergence of Route 7 in Wilton as an established business corridor and the competitive economics of the area make Wilton Corporate Park a very attractive choice," notes Tonnessen, executive vice president of Albert B. Ashforth. "That combined with Davis Marcus' notable reputation in the marketplace and David Fiore's personal, hands-on management of tenant construction has proven to be very appealing to tenants and was instrumental in securing Tygris."

Prudential Real Estate Investors (PREI(R)) is Davis Marcus' joint venture partner on the Park. This is the seventh project for Davis Marcus and PREI, the real estate investment advisory and management business of Prudential Financial, Inc. (NYSE:PRU).

As of June 30, 2008, PREI managed $47.4 billion of gross assets management ($32.2 billion net assets) on behalf of more than 400 clients and is ranked among the largest real estate investment managers.


CONTACT: Jeyran Ghara, +1-212-777-2220, jghara@southardinc.com, of Southard Communications for Davis Marcus Partners

Hotel Brokers International Sells Landmark 10,000th Hotel

Hotel Group Gears Up for 50th Anniversary

KANSAS CITY, MO—Hotel Brokers International (HBI), the nation’s largest hotel brokerage organization with more than 30 offices from coast to coast, has brokered its landmark 10,000th hotel transaction.

The deal comes as HBI prepares to celebrate its 50th anniversary in 2009.

A $10.2 million package deal of two Holiday Inn Express hotels included the 77-unit Holiday Inn Express, Austinburg, Ohio, (middle left photo) which sold for $5.6 million, and the 64-unit Holiday Inn Express, Newton Falls, Ohio, which sold for $4.4 million.
“We’ve sold more than 150 different branded hotels and countless independents in our 49-year history,” said H. Brandt Niehaus, (top right photo) CHB, president of HBI and Louisville-based Huff, Niehaus & Associates, Inc.

“These mid-market properties are typical HBI sales. The vast majority of our hotel transactions are in the mid-market segment, which, of course, dominates the industry.

" No organization sells more hotels in this sector than HBI. We also are active in virtually all the other segments from upper-upscale through economy.

“Through the first six months of 2008, HBI transactions remained strong, compared to the rest of the industry,” he said. “However, we expect hotel sales to pause while the market digests all of the changes currently taking place on Wall Street.

“Financing, while more difficult to obtain, remains available, particularly for hotel transactions below the $10 million to $15 million level. We expect hotel real estate transaction activity to gain momentum later this year and accelerate into 2009.”

Errol D’Souza, (middle left photo) CHB, president, Laurel Real Estate Co. of Columbus, Ohio was the HBI selling broker. “We arranged financing through the CDC in Ohio for two SBA 504 loans in order to get the transaction done in today’s market,” D’Souza said. “Mid-market hotels remain in high demand, and, fortunately, financing at historically attractive rates is available from multiple sources.”

Asmukh Patel and Rakesh Patel of New York, new owners of the properties, commented, “Errol D’Souza brought us two good assets and a professional management team to operate the hotels for us.”

Raxit Shah, (bottom right photo) president, Liberty Group of St. Petersburg, Fla. said, “As the seller, we found Errol’s professionalism created a transaction that allowed us to retain the management of the hotels. It worked out beautifully for both sides.”

CONTACTS:
Glenda Webb, Hotel Brokers International, (816) 505-4315
Jerry Daly, Patrick Daly, Daly Gray Public Relations, (703) 435-6293

Tilt-Con Starts Ring Power Facility in Riverview, FL

TAMPA, FL – Tilt-Con Corporation, Orlando, is under way on the new 130,486-square-foot Ring Power Riverview, Phase III, facility in Riverview, in Hillsborough County, FL, under its contract with design/builder Stellar, Jacksonville, FL.

Ranked as Florida’s largest tilt-up concrete constructor by Southeast Construction magazine, Tilt-Con utilizes its economical system for tilt-up concrete walls. Completion of Tilt-Con’s scope of work including foundations, slab-on-grade, tilt-up concrete wall panels, mezzanines and walkways is slated for completion in early 2009.

Firm Starts Work on Valdosta State University's new multimillion-dollar 4-story, 118,368-square-foot Student Union building in Valdosta, GA

ALTAMONTE SPRINGS, FL – Altamonte Springs-based Tilt-Con Corporation is under way on Valdosta State University’s new multimillion-dollar 4-story, 118,368-square-foot Student Union building in Valdosta, GA, under its contract with Skanska USA Building.

Selected for its unrivaled performance and speed of execution, Tilt-Con utilizes its multi-story economical system for tilt-up concrete walls. Ranked as Florida’s largest tilt-up concrete constructor by Southeast Construction magazine, Tilt-Con’s scope of work includes foundations, slab-on-grade and tilt-up concrete wall panels. Designed by Ellis, Ricket and Associates, Valdosta, the project is slated for completion in January 2009.

Tilt-Con, completes new 150,000-square-foot AVE Aviation and Commerce Center in Opa-Locka, FL

MIAMI, FL – Tilt-Con Corporation, Tamarac, completed the new 150,000-square-foot AVE Aviation and Commerce Center (bottom right aerial photo) at 14200 NW 57th Avenue in Opa-Locka, FL, under contract with Link Construction Group, Miami.

Selected for its unrivaled performance and speed of execution, Tilt-Con utilized its economical system for tilt-up concrete walls. Tilt-Con’s scope of work included foundations, slab-on-grade and tilt-up concrete wall panels. The project was designed by RLC Architects, Boca Raton, FL. Tilt-Con’s South Florida office is located at 10601 State Street, Suite 10, Tamarac, FL 33321, phone 1-800-446-8458.
Contact: Kenneth H. Cristol, 407-774-2515

Arbor Closes $7.6M in Michigan and Connecticut Loans

Hickory Hollow Cooperative Townhouses in Wayne, MI Gets $4M Fannie Mae Co-op Loan

UNIONDALE, NY -– Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the funding of a $4,000,000 loan under the Fannie Mae Co-op product line to refinance the 267-unit complex known as Hickory Hollow Cooperative Townhouses (top right photo) in Wayne, MI.

The 30-year loan amortizes on a 30-year schedule and carries a note rate of 7.14 percent.

The loan was originated by Michael Jehle,(middle left photo) Director, in Arbor’s full-service Michigan lending office. “The members of this cooperative have big plans for many capital improvements to their property,” said Jehle. “By decoupling their HUD 236 mortgage, Arbor was able to provide, in part, these renovation funds with a long term, attractive fixed rate loan.”

Arbor Closes $1.6M Fannie Mae DUS® Small Loan on The Pines Apartments in East Lansing, MI

UNIONDALE, NY– Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, has funded a $1,600,000 loan under the Fannie Mae DUS® Small Loans product line to refinance the 44-unit complex known as The Pines Apartments (bottom right photo) in East Lansing, MI.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.25 percent.

The loan was originated by Michael Jehle, Director, in Arbor’s full-service Michigan lending office. “Arbor was successful in providing long-term fixed rate financing for this student property,” said Jehle. “The entire process went very smooth for this repeat client of ours.”

Arbor Closes $2M Fannie Mae DUS® Loan on Heritage House Apartments in New London, CT

UNIONDALE, NY, Oct. 8, 2008 – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, has funded a $2,000,000 loan under the Fannie Mae DUS® product line to refinance the 60-unit complex known as Heritage House Apartments in New London, CT.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.04 percent.

The loan was originated by John Edwards, (bottom left photo) Vice President, in Arbor’s full-service Boston, MA lending office.
“We were pleased with the opportunity to provide low leverage financing for a strong owner and operator,” said Edwards

Contact: Ingrid Principe, Tel: (516) 506-4298, iprincipe@arbor.com

Marcus & Millichap Sells 223-Unit Apartment Community in Roseville, CA

ROSEVILLE, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Venu at Galleria, (top right photo) a 223-unit multi-family community in Roseville.

The asset sold at a low 5 percent cap rate.
Kenneth Blomsterberg, a vice president investments in the Sacramento office of Marcus & Millichap, and Jesse Nickerman, an investment specialist in the firm’s Sacramento office, represented the seller and the buyer in the transaction.

“Venu at Galleria was an excellent opportunity for the buyer to acquire a recently constructed multi-family community in a highly desirable rental market,” says Blomsterberg.

“The Roseville area has enjoyed tremendous population and job growth in recent years, Venu at Galleria offered the buyer a superior location with solid demographics and the ability to add value,” added Nickerman.

Located at 301 Gibson Drive, the apartment community consists of 26 two- and three-story buildings situated on approximately 12 acres within walking distance of the Galleria Mall.

The property is near the intersection of Highway 65 and Interstate 80 and directly across from the site of a planned Placer County Convention Center and Embassy Suites Hotel.

Built in 2003, Venu at Galleria features a strong mix of studios, one-, two- and three-bedroom units with 15 distinct floor plans.

Unit amenities include nine-foot ceilings, decorative ceiling fans, designer, color-coded interiors, custom wood cabinets, large pantries, Roman soaking tubs and spacious patios/balconies.

Gas burning fireplaces and attached garages are available in select floor plans. Community amenities include a resort-style swimming pool and spa, fitness center, lounge, business center, interactive game room/movie theater, personal concierge services and in-house spa.

Press Contact: Stacey Cors, o Communications Department, (925) 953-1716

Tuesday, October 7, 2008

Roger B. Kennedy Inc. Completes Two Jobs Valued at $20M


The Altamonte Springs, FL-based general contractor and construction manager completes new $15.6 million, 8-story, 268,000-square-foot Parkvue Condominiums and Offices at City Centre in downtown Kissimmee, FL (top right photo)

KISSIMMEE, FL – Altamonte Springs-based general contractor and construction manager Roger B. Kennedy, Inc. completed the new $15.6 million, 8-story, 268,000-square-foot Parkvue Condominiums and Offices at City Centre (top right photo) in downtown Kissimmee, FL. The project was designed by McMillen Design Group, Kissimmee.

Perennially ranked among Engineering News-Record’s “Top 400 U.S. Contractors,” the Kennedy organization has been in the construction business for over 135 years, and its experience has passed down from generation to generation.

Today, the award-winning company is comprised of industry professionals with all the resources needed for economical, on-time completion of a wide variety of projects. Roger B. Kennedy, Inc. specializes in hospitality, commercial, multi-family and healthcare projects including hotels, timeshare resorts, office buildings, medical buildings, condominiums and more.

Headed by Roger B. Kennedy, Jr.,(middle left photo) President, the company also ranks among the Orlando area’s largest construction companies and is one of Central Florida’s largest family-owned businesses. Its headquarters is located at 1105 Kensington Park Drive, Altamonte Springs, FL 32714, telephone (407) 478-4500.

Firm finishes new $4.8 million, 3-story Avalon Office Building bottom left photo) in Avalon Park in Orlando

ORLANDO, FL – Altamonte Springs-based general contractor and construction manager Roger B. Kennedy, Inc. completed the new $4.8 million, 3-story, 40,000-square-foot Avalon Office Building (bottom left photo) in Avalon Park in Orlando, FL.

The project was designed by SchenkelShultz Architecture, Orlando. In recent years, Kennedy also constructed the $10.6 million, 135,000-square-foot Avalon Mixed-Use Building II, the 18,000-square-foot Avalon Health Building, the Avalon Park band shell and Avalon Town Center park.
Contact: Kenneth H. Cristol, 407-774-2515