Top seniors housing investment sales team of Maconachy and Lavender joins HFF Dallas

  

 DALLAS, TX – HFF announced today that the team of Ryan Maconachy (top right photo) and Chad Lavender (middle left photo) has joined the firm’s Dallas office to lead HFF’s charge into the seniors housing investment sales business.  The two producers will be a part of HFF’s National Seniors Housing Group and will focus on seniors housing investment sales nationally. 

The team was responsible for more than $225 million in institutional seniors housing sales during the prior 12 months, including the largest single asset sale of 2011, The Carlisle Naples for $85 million in Naples, Florida.   

Mr. Maconachy, who joins HFF as a managing director has more than six years of experience in the seniors housing market and was most previously the national director of ARA’s National Seniors Housing Group.

 Prior to that, he was the vice president of acquisitions for a private equity firm that purchased seniors housing and multi-housing properties.  Mr. Maconachy holds a Bachelor of Business Administration degree in Finance and Marketing and a Masters in Business Administration from Loyola Marymount University’s Hilton School of Business.

Mr. Lavender, who will be a director at HFF, was also a producer and integral part of ARA’s National Seniors Housing Group.  Prior to ARA, he worked at Harwood International, most recently as the director of acquisition and dispositions.  Mr. Lavender graduated from The University of Alabama with a Bachelor of Finance degree.

“We are pleased to have Ryan and Chad as part of HFF’s National Seniors Housing team.  They bring with them a wealth of knowledge and client relationships in the seniors housing market, which we are looking forward to expanding as a property specialty,” said Jody Thornton (lower right photo), executive managing director in HFF’s Dallas office.

Contacts:   

                  

JOE B. THORNTON                                             

HFF Executive Managing Director                 

(214) 265-0880                                                   

jthornton@hfflp.com                                        

KRISTEN M. MURPHY

HFF Associate Director, Marketing

(713) 852-3500                                      

krmurphy@hfflp.com

                                        

Marcus & Millichap Arranges Sale of Dale Mabry Palms Apartments in Tampa, Fl

 TAMPA, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Dale Mabry Palms Apartments (top left photo), a 40-unit apartment property located in Tampa, Florida, according to Bryn D. Merrey, vice president and regional manager of the firm’s Tampa office.

The asset commanded a sales price of $2,000,000.

Casey Babb (middle right photo), CCIM, a senior multifamily specialist, and Luis Baez (middle left photo), multifamily specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a developer.  The buyer, a private investor, was also secured and represented by Babb and Baez.

Dale Mabry Palms Apartments is a 40-unit, “Class B”, garden apartment community built in 1987 and located at 5901 South Dale Mabry Highway.  The property recently underwent over $1 million of rehab which included all new interiors, exteriors and common areas. 

Apartments are housed in 10 two-story, concrete block buildings with newly painted stucco exteriors and pitched shingle roofs.

“In the under 50-unit apartment market in Tampa, this transaction is among the first of what we think will be a wave of property trades for previously distressed properties that were bought between 2008 and 2010, repositioned and resold” comments Babb.

 “In the case of Dale Mabry Palms, the property was bought out of receivership when it was 100 percent vacant and boarded up. 

“The property then received a nearly $1 million cash infusion before restabilizing in late 2011.  The incoming buyer achieved a 9.8 percent cap rate on 82.5 percent physical occupancy and the seller made a 25 percent profit over and above his capital invested” adds Babb.

Press Contact:  Bryn D. Merrey, Vice President/Regional Manager, Tampa

(813) 387-4700

Florida Ranked First in 2011 Home Sales to Its Northern Neighbor

SARASOTA, FL /PRNewswire/ -- The strength of the Canadian dollar, sustained by lower pricing in the US housing market, and perceptions regarding the general economic US outlook, continue to prod Canadians to purchase a home in the Sunbelt states.

According to the National Association of Realtors (NAR) 2011 Profile of International Buying Activity, Florida and Arizona remain viewed among top choices because of their favorable winter climate.

In fact, 58 percent of all international sales in 2011 came from just four states: Florida at 31 percent, followed by California at a distant 12 percent, Texas accounted for nine percent and Arizona at six percent.

Even for international buyers it's location, location, location. Forty-three percent of those surveyed report a favorable location as their clients' most important factor when choosing where to purchase.

That was followed by 27 percent who stated their clients' top reason to buy in the US was that they view US real estate as a profitable investment. Canadians specifically purchase due to a perceived positive return on their investment.

 They also showed a strong desire for a lakefront recreational location. In fact, eight percent of Florida re-sales were to Canadians in 2010. Similar culture, closeness to their native homeland, and lack of a communication barrier are also factors steering Canucks to the lower 48.

The NAR profile also showed that in the 12 month period ending March of 2011, Canadians accounted for 23 percent of all foreign buyers - the largest of any country.

In a 2010 article, Canada's largest daily newspaper The Globe and Mail reported that a vast majority of Canadians were paying cash for their purchase. That may have been due in part to the somewhat cumbersome U.S. mortgage process.

"There are few lenders who have a mortgage process tailored for Canadians looking to purchase a home in the U.S.," said Sheila Blom (top right photo), Florida Mortgage Market Manager for M&I, a part of BMO Financial Group.

"Our parent company is based in Toronto, so naturally we have relationship products specifically designed to meet the needs of Canadian customers for purchasing or refinancing their primary residence, second home or investment property in the U.S."

When all is said and done, it appears that our northern neighbors are anxious to do whatever it takes to own a piece of the American dream - and that's all good news for our housing market.

Contact:

Carey Allen of M&I, a part of BMO Financial Group,

 +1-480-558-6383,

carey.allen@micorp.com

Brookfield Real Estate Services Inc. reports fourth quarter and annual 2011 results and monthly dividend

TORONTO, CANADA /PRNewswire/ - Brookfield Real Estate Services Inc.

(the Company) (TSX: BRE), a leading provider of services to residential real estate brokers and their REALTORS®¹, announced that cash

flow from operations ("CFFO") for the three and twelve months ended December 31, 2011 was $5.4 million and $25.3 million, respectively, as compared to $5.0 million and $25.2 million, respectively, for the same

period in 2010.

For a complete copy of the company’s news release and statistics, please contact:

Tammy Gilmer

Director, Public Relations & National Communications

Brookfield Real Estate Services Inc.

tgilmer@brookfieldres.com

Tel: 416.510.5783

Colliers International Central Florida Closes Auto Dealership Sale for $2.17 Million

ORLANDO, FL (March 15, 2012) – In an unusual case where an auto dealership property was purchased for its existing use, Colliers International Central Florida recently closed the sale of 53,662 square feet of enclosed space and 8,536 square feet of open covered space on 10.96 acres for $2,172,205.

Expanding Evolution Auto will move into the property at 2925 N Hwy 17-92 in Longwood, Fla., which was formerly occupied by David Maus Toyota.

Director Bill Parke (middle right photo), SIOR of Colliers International Central Florida represented the seller, FLTVT Dealership Property LLC, which owns numerous auto dealerships in Central Florida and nationally.

Director Sher Tolan (middle left photo) of Southern Commercial Real Estate represented the buyer, Ramy Properties.

The property includes four buildings, designed for showroom/office, service parts, body shop and used car office. The lighted parking lot can accommodate approximately 500 vehicles, and the property has excellent visibility and direct access from US 17-92.

 David Maus Toyota, which previously occupied the Longwood property, moved to a larger site on Rinehart Road in Sanford.

 “Finding a buyer for a vacant auto dealership in these challenging times is difficult because there are fewer auto dealers today than there were, say, four years ago,” said Parke. “It worked out well here that Evolution Auto was looking to expand and was interested in the property.”

 

“This location is a great fit for Evolution Auto,” said Sameer Asfoor (lower right photo), president of Evolution Auto. “We have great frontage on the road and find the area’s high density appealing. It allows us the long-term sustainability that we need to support our expansion plans.”

 Contact:

Noelle Anderson, APR

Principal & President

True Blue Communications

813.380.0314

Noelle@truebluetampa.com

 Evolution Auto’s long-term plans include creating a service center to recondition incoming inventory before it is sent out to satellite locations for retail sale, setting up a dedicated auction area for non-retail units, and opening a café with offerings beyond most auto dealerships’ typical coffee or sandwich bars.

 MIAMI, FL – HFF announced today that it has been named to market for sale a portfolio of three grocery-anchored retail centers totaling 276,143 square feet in suburban communities of Houston, TX,  Columbia, SC and Tallahassee, FL. 

 The properties are: Kleinwood Center, Murray Landing and Vineyard Shopping Center. HFF is marketing the portfolio exclusively on behalf of the seller.   

Individual property details are listed below:

Kleinwood Center (top left photo),  built 2003, 148,964 SF, 89.3% occupancy, anchor, HEB, Spring, TX

Murray Landing (lower right photo), 2003, 64,359 SF, 100%, Publix, Irmo, SC.          

              

Vineyard Shopping Center, 2002, 62,821 SF, 84.7%, Publix,Tallahassee, FL     

 According to HFF, “the scarcity of HEB and Publix offerings, coupled with desirable anchor lease term and strong sales performance, presents a rare and unparalleled opportunity to acquire three high-quality grocery-anchored centers in a single transaction.”

 Contact:

Kristen M. Murphy,

HFF Associate Director, Marketing

(713) 852-3500

krmurphy@hfflp.com

Urgo Hotels Adds Luxury Lake Placid, NY Resort to Managed Portfolio

  

BETHESDA, MD, Mar. 15, 2012—Urgo Hotels, a major operator, developer and owner of upscale and luxury hotels, today announced that it signed a long-term management agreement and now operates the Whiteface Lodge Resort  (top left photo) and Homeowner’s Association, a AAA four-diamond resort located in Lake Placid, N.Y. 

The resort brings to more than 30 hotels operated or owned by Urgo Hotels.

“Whiteface Lodge is a very special, award-winning resort that recreates a 21st century update to the great lodges of the Adirondacks,” said Kevin Urgo (middle right photo), principal and chief development and finance officer of Urgo Hotels.

 “We are particularly well-suited for this assignment because one of our key strengths is managing complex, one-of-a-kind resort properties and operating them to achieve their full market potential. 

“We look forward to working closely with the resort owner and the Homeowners Association Board to capitalize on Whiteface Lodge’s legacy of providing an authentic experience, renowned service and superior facilities and amenities.” 

Whiteface Lodge Resort offers 94 one-to-four bedroom suites along with a private residence club. 

The property features a 5,800 square-foot spa with six treatment rooms and a fully-equipped fitness center. 

The resort is ranked among the top US spa hotels by Conde Nast Traveller and also has been recognized for excellence by Travel+Leisure and Wine Spectator. 

Trip Advisor and Conde Nast readers also recommend the resort, which includes an indoor/outdoor swimming pool, an ice skating rink, 54-seat movie theater, bowling lanes, tennis courts, snowshoe/cross country trails and a private beach and canoe club.  The resort complex also has fractional and full-ownership units. 

‘’We believe there is a great opportunity for continuous improvement at the Whiteface Lodge,” said Serge Primeau (middle left photo), Urgo’s vice president of operations. 

 “We are committed to maintaining and enhancing the level of service while improving top-line performance and financial results. 

"We also are sensitive to the partnership with the fractional unit owners and have already started putting together programs that will enhance communications and make the Whiteface Lodge a memorable place to enjoy with their families.’’  

 Additional information about the company may be found at www.urgohotels.com.

  

 Contact:   

Jerry Daly or Chris Daly

(703) 435-6293

 Patrick Daly

Account Supervisor

Daly Gray, Inc.

patrick@dalygray.com

Office:  (703) 435-6293

Cell:  (703) 300-8289

Eagle Creek Golf Club to Host British American Chamber Golf Tournament to Benefit 'Dream Flight' Trip to Orlando, FL

ORLANDO, FL --- Eagle Creek Golf Club (top left photo) in East Orlando, a Celebration Golf Management course, will host more than 100 players for the annual British American Chamber of Commerce Tournament Friday, April 27, starting at 8:30 a.m. 

Gene Garrote (middle right photo), president of Celebration Golf Management, said the tournament will benefit Dream Flight, which treats seriously ill and disabled British children to the holiday of a lifetime at Orlando-area attractions.

“This is such a worthy cause that it draws players from all over,” Garrote explained, “We are pleased and honored to host the tournament this year,” he said.

Central Florida golfers interested in entering the tournament should contact The British American Chamber of Commerce (BACC) at 407-226-7251 or www.britishamericanchamberorlando.com.

For more information, contact

 Dorothy Benson, Sales and Marketing Manager, Celebration Golf Management 507-566.1045 ext 4613,  dbenson@cgmgolfproperties.com

 Scott Schmidtberger, Director of Golf, Eagle Creek Golf Club 407 273-4653; sschmidtberger@cgmgolflproperties.com

 Gene Garrote, President, Celebration Golf Management, 407-566-1045; ggarrote@cgmgolfproperties.com

 Larry Vershel, Larry Vershel Communications 407 644-4142 or

407 461-3780 Lvershelco@aol.com

NAI Realvest A Major Winner At Annual NAIOP Awards

 MAITLAND, FL --- NAI Realvest was a major winner at the recent annual awards program of the Central Florida chapter of NAIOP, including a clean sweep of awards for the area’s top land brokers.

NAI Realvest Associate Chris Butera (top right photo) took first place as the region’s top land broker.  Principals Matt Cichocki (middle left photo) and Kevin O’Connor (lower right photo) shared second place and Managing Director Paul Partyka earned a third place award in the same category.

Cichocki and O’Connor also shared a third place award as the region’s top retail brokers for 2011.

For more information, contact

Patrick Mahoney, President NAI Realvest, 407-875-9989 Pmahoney@realvest.com;

Beth Payan or Larry Vershel, Larry Vershel Communications,

407-644-4142    

Lvershelco@aol.com

Foreclosure Activity Up in Half of Nation’s Largest Metros in February, According to RealtyTrac®

IRVINE, CA. – March 15, 2012 — RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its U.S. Foreclosure Market Report™ for February 2012, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 206,900 U.S. properties in February.

That was a 2 percent decrease from the previous month and was down 8 percent from February 2011 — the lowest annual decrease since October 2010. The report also shows one in every 637 U.S. housing units with a foreclosure filing during the month.

“February’s numbers point to a gradually rising foreclosure tide as some of the barriers that have been holding back foreclosures are removed,” said Brandon Moore (top right photo), CEO of RealtyTrac.

“Although national foreclosure activity was pushed lower by decreases in a handful of larger states, 21 states posted annual increases in foreclosure activity, the most states with annual increases since November 2010.

“The foreclosure and mortgage settlement filed in court earlier this week will help pave the way to a properly functioning foreclosure process by providing a clear roadmap for necessary foreclosures,” Moore continued.

 “That should result in more states posting annual increases in the coming months. Not surprisingly, many of the biggest annual increases in February were in states with the more bureaucratic judicial foreclosure process, which resulted in a larger backlog of foreclosures built up over the last 18 months in those states.”

For a complete copy of the company’s news release and statistics, please contact:

Media Contacts:

Christine Stricker

949.502.8300, ext. 268

christine.stricker@realtytrac.com

Michelle Schneider

949.502.8300, ext. 139

michelle.schneider@realtytrac.com

Order Custom Data:

Tyler White

949.502.8300, ext. 158

tyler.white@realtytrac.com

New Appointments at Marcus & Millichap

 Daniel A. ‘Sonny’ Molloy Named Senior Director of National Retail Group

ATLANTA, GA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Daniel A. “Sonny” Molloy (top right photo) senior director of the firm’s National Retail Group in Atlanta, according to Bill Rose, national director of the National Retail Group.

Mark J. Ruble is Senior Director of National Retail Group in Phoenix

PHOENIX, AZ– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Mark J. Ruble (lower left photo) senior director of the firm’s National Retail Group in Phoenix, according to Bill Rose, national director of the National Retail Group.

Ruble joined Marcus & Millichap in December 2004 as a sales intern. He became an agent in June 2006. During his career, Ruble has closed 162 transactions valued at more than $416 million.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

Rhodes+Brito Architects start design work for 6,500 SF Ocoee Community Center in Florida Vernacular Style

 ORLANDO, FL--- Rhodes+Brito Architects, based in Orlando, has started design work for a new Ocoee Community Center that will be built across from City Hall in Downtown Ocoee.

Max Brito, co-founder and partner at Rhodes+Brito, said the 6,500 square foot facility will include a banquet hall, meeting rooms and warming kitchen.

Brito said the Florida Vernacular architectural style will complement Ocoee’s “Old Florida” historical look and feel.

Rhodes+Brito, which opened in Orlando in 1996, currently employs a staff of 17, including seven registered architects. The firm served as lead architect for the Florida A&M University College of Law facility in downtown Orlando.

For more information,  contact:

Ruffin Rhodes, Rhodes+Brito Architects, 407-648-7288 x103 ruffin@rbarchitects.com

Maximiano Brito, Rhodes+Brito Architects, 407-648-7288 max@rbarchitects.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 (fax: 4410)

Commercial Asset Partners Realty closes $555K medical office sale in Trinity, FL to multi-specialty practice

  

 TRINITY, FL (March 14, 2012) – In an indication of the demand for medical office space in the Trinity area of Pasco County, Commercial Asset Partners (CAP) Realty closed a 4,800-square-foot office sales transaction in Trinity Professional Center for a wellness and rehabilitation practice. The space, sold for $555,000, is located at 1814, 1820 and 1822 Wellness Lane (top left photo) in Trinity.

Carol Kinnard (middle right photo) of CAP Realty represented the seller, MLRS Properties, LLC. Heidi Tuttle-Beisner (lower left photo), CCIM, also of CAP Realty, represented the buyers, Dr. Edward J. Leonard and Dr. Stephen J. Unger.

 Aiming to provide a full range of evidence-based healthcare under one roof, Drs. Leonard and Unger’s practice, Florida Wellness and Rehab, offers chiropractic care, physical therapy and massage therapy, as well as family medicine, which is a new addition to the practice with the move to the location on Wellness Lane.

 “We’d outgrown our old space, which we were leasing,” said Dr. Unger. “Our new offices will accommodate our current needs and is large enough for us to grow into as we go forward. We were at the right place at the right time to get an excellent deal in a great professional park.”

 Florida Wellness and Rehab’s new location was already prepped for medical use, possibly saving the new owners expenses that may have been required to retrofit a general-office building for medical use.

 Kinnard, who holds the Associated Medical Office Expert (AMO) certification, specializes in the sales and leasing of medical office space and is well-versed on the unique requirements for certain specialty practices.

 “Move-in ready medical office space is in great demand near the Medical Center of Trinity,” she said, “and the sale of this unit to Florida Wellness and Rehab will undoubtedly heighten activity further.”

  For more information, see the company’s website at http://www.cap-realty.com/.

 Contact:

Noelle Anderson, APR

Principal & President

True Blue Communications

813.380.0314

Noelle@truebluetampa.com

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Colliers International Completes the Sale of Kindred Hospital Rancho a 98,176 SF Hospital And Medical Office Building in Rancho Cucamonga, CA

  Rancho Cucamonga, CA,  March 14, 2012 – Colliers International, the third largest global real estate services organization, has completed the sale of a 98,176 square-foot hospital and medical office building located at 10841 White Oak Avenue, Rancho Cucamonga, Calif. for an undisclosed price.

John Wadsworth (middle right photo), Vice President and Director of Healthcare Properties, based in Colliers International’s Irvine office, Tom Lagos, Senior Vice President, and El Warner, Associate Vice President both based in Colliers International’s Downtown Los Angeles Office, represented the Seller, Pacific Health Realty, LLC. The Buyer represented itself.

Built in 1996, Kindred Hospital Rancho (top left photo) is comprised of a single-story Long-Term Acute care (“LTAC”) hospital building consisting of 55 beds with an attached 3-story medical office building. Both the hospital and medical office building are currently occupied and operated by Kindred Healthcare.

Kindred Healthcare is a major healthcare service provider operating hospitals, nursing rehabilitation centers and sub-acute care facilities throughout the United States.

“Kindred Rancho is a unique asset due to the property consisting of a Long Term Acute Care (“LTAC”) hospital and attached medical office building.” said Wadsworth.

“The unique physical nature of the property combined with a master lease to an industry leader like Kindred Healthcare appealed to a wide range of potential investors,” added Wadsworth.

Contact:

Jennifer Hsieh

Regional Marketing Manager

+1 949 724 5545

Jennifer.hsieh@colliers.com

Colliers International Completes Sale of REO Multi-Tenant Office Building for $4.8 Million in Westlake Village, CA

 WESTLAKE VILLAGE, CA, March 14, 2012. – Colliers International, the third largest global real estate services organization, has completed the sale of a 45,103-square-feet, multi-tenant office building located at 31225 La Baya Drive, Westlake Village, Calif.  The transaction is valued at $4.8 million.

William Gloege, Associate Vice President, based in Colliers International’s Downtown Los Angeles office, Jeff Albee (middle right photo), Senior Vice President, Jeff Gould (middle left photo), Senior Associate and Chris Itule (lower right photo), Senior Associate, all based in the Encino office represented the Seller and Buyer. 

The Seller was a national Special Servicer.  The Buyer was Toth Properties, a private capital syndication investor. 

“We successfully developed and executed a top tier marketing strategy that not only maximized the value of the asset, but also ensured a fluid closing within a specific and tight time frame,” said Gloege.

“At the time of foreclosure, leasing and tenant relations at the property had been abandoned by the previous owner, requiring a quick and effective solution. We quickly worked with a Special Servicer to mitigate these issues, stabilize the property and preserve value,” added Gloege. 

The multi-tenant office building is located in the heart of Westlake Village, one of the most affluent communities in California and is an ideal value-add opportunity. 

At the time of the sale, the property was 60% occupied with rent upside, which commanded a low initial capitalization rate for the Seller. This represents one of the first REO sales transactions for a commercial property in the Westlake Village market. 

Contact:

Jennifer Hsieh

Regional Marketing Manager

+1 949 724 5545

Jennifer.hsieh@colliers.com