BC Lynd Hospitality Purchases St. Anthony Hotel in San Antonio, TX with Plans for $24 Million Renovation

 SAN ANTONIO, TX (May 21, 2012) – BC LYND Hospitality, a growing hospitality investment and management firm, has made its first major acquisition since it was founded earlier this year.  The company, a joint venture between LYND and BC Commercial Partners, LLC, has purchased the historic St. Anthony Hotel (top left photo)located in downtown San Antonio, Texas. 

BC LYND CEO Brandon Raney (middle right photo) said the joint venture is planning a $24 million renovation to restore the 103-year-old hotel and maintain the extraordinary architecture of the building, which is listed as a National Historic Landmark. 

 The hotel, located at 300 East Travis Street in downtown San Antonio, has the opportunity to serve business travelers, leisure travelers and local residents alike. 

BC LYND purchased the hotel for an undisclosed amount from the special servicing agency Berkadia after a competitive bidding process.

“After working with BC principals on unrelated business, we came to the conclusion that our talents combined make a great fit in the hotel space,” said LYND CEO Michael J. Lynd, Jr. (bottom right photo).

“We are excited that our first project is in our backyard, and that not only carries historic significance, but is also another key piece in transforming downtown San Antonio into an exciting destination.”

For more information, visit www.bclynd.com.

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

Todd Templin

Boardroom Communications

954-370-8999 or 954-290-0810

ttemplin@boardroompr.com

 BC Lynd Contact:

Brandon S. Raney, CEO

210-798-8139

braney@bclynd.com

DoubleTree by Hilton Opens First Tucson Airport Hotel

 Tucson, AZ (May 21, 2012) – DoubleTree by Hilton proudly announces the opening of an upscale full-service, all-suite hotel, situated near Tucson International Airport (TUS) and just minutes from downtown Tucson and the University of Arizona.

 The 204-room DoubleTree Suites by Hilton Tucson Airport (top left photo) is located in one of the largest business corridors of the Valley of the Sun, near many Fortune 500 companies, including Raytheon, Intuit and IBM.

  

The hotel is easily accessible to the Davis-Monthan Air Force Base, the Arizona Air National Guard, University Medical Center, Diamond’s Children Medical Center and the Tucson Electric Park/Kino Sports Complex. 

Rob Palleschi (middle right photo), global head, DoubleTree by Hilton, said, “DoubleTree by Hilton now invites our loyal business and leisure customers to stay with us in Arizona, with the opening of the new DoubleTree Suites by Hilton Tucson Airport hotel that embodies an upscale, completely renovated full-service hotel with exceptional service.

“This newest DoubleTree by Hilton hotel location extends our commitment to welcoming the world’s travelers in key destinations and providing a comfortable, amenity-rich hotel experience for visitors alike to work and play.”

 The hotel is owned by Tucson Suites, LLC and operated under a franchise license agreement with a subsidiary of Hilton Worldwide.

Just minutes from downtown Tucson by taxi and area airports by hotel shuttle or taxi, the DoubleTree Suites by Hilton Tucson Airport is located at 7051 South Tucson Blvd., Tucson, Arizona, United States 85756.

 For more information about the DoubleTree Suites by Hilton Tucson Airport, please visit the hotel’s website at www.tucsonairportsuites.doubletree.com, contact your preferred travel professional or call the hotel directly at +1 520 225 0800. 

Visit www.hiltonworldwide.com for more information and connect with Hilton Worldwide at

www.facebook.com/hiltonworldwide,

www.twitter.com/hiltonworldwide,

www.youtube.com/hiltonworldwide,

www.flickr.com/hiltonworldwide

www.linkedin.com/company/hilton-worldwide

Contact:

Chris Daly

Daly Gray Public Relations

chris@dalygray.com

+1 703 435 6293

Industry Leader Joe Harbert Joins Colliers International

SEATTLE, WA and NEW YORK, NY, May 21, 2012 /PRNewswire/ -- Colliers International announced today that Joseph Harbert (top right photo), a highly recognized leader in the New York real estate market for more than 30 years, has joined Colliers International as the President of its Eastern Region. Harbert will report directly to Dylan Taylor (middle left photo), CEO of the U.S. operations of Colliers International.

"Joe has long been a leading real estate executive in the tri-state region with an unparalleled track record for driving strategic growth in the New York market and globally," said Taylor. "With the addition of Joe to our senior U.S. executive team, our goal of becoming a market leader in New York and the eastern region will be rapidly accelerated."

"I am extremely excited to be joining Colliers International in a leadership role at this important time in our industry," said Harbert.

"I am convinced we will build a leading presence in the Tri-State area and Eastern Region and believe that with its global presence and unwavering commitment to deliver exceptional client experience through highly specialized and enterprising service professionals, Colliers International is well-positioned for accelerated growth in the years to come," he concluded. 

Most recently, Harbert was the chief operating officer for Cushman & Wakefield in the New York tri-state region and its area leader for the northeast. Prior to joining Cushman & Wakefield in 2004, he was in senior leadership positions with Edward S. Gordon, Insignia/ESG and later CBRE.

For more information about Colliers International, please visit Facebook, LinkedIn, Twitter, YouTube and SlideShare.

IPA Arranges Sale of 440 Units in Dallas/Fort Worth Metroplex

 RICHARDSON, TX–Institutional Property Advisors (IPA), a recently formed multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has arranged the sale of AMLI at Breckinridge Point (top left photo), a 426,390-square foot luxury multifamily community in Richardson. The terms of the transaction were not disclosed.  

Will Balthrope (middle right photo), a Texas-based IPA senior director and Drew Kile (middle left photo), an associate director of IPA also based in Texas, represented the seller, AMLI Residential Properties LP. The buyer is JRK Property Holdings of Los Angeles.

“The property was marketed aggressively nationwide,” says Balthrope. “We conducted 31 property tours with buyers from all parts of the country and generated 26 offers.”

“The tremendous interest in this sale provides evidence of the strong demand for high-quality assets in the Dallas/Fort Worth Metroplex,” Balthrope continues.

“The area is one of the most sought-after investment markets in the country due to strong job growth, high occupancies and rising rental rates. We are seeing great activity on all of our Dallas/Fort Worth listings,” adds Balthrope.

“The Richardson submarket continues to perform as one of Dallas’ top areas for occupancy and rent growth,” says  Kile. “Minimal construction and a strong economic recovery will keep the submarket on track for future growth.”

The property is located within the Richardson Telecom Corridor at 4250 East Renner Road, near many major employers, including AT&T, Bank of America, BlueCross BlueShield of Texas and Fujitsu.

Home to more than 600 technology firms, Richardson has the highest concentration of technology workers in the Greater Dallas/Fort Worth Area and is forecast to continue to attract new residents.

“AMLI at Breckinridge Point is a top-tier asset, and many of the most qualified investors in the country expressed interest,” Balthrope says. “Both the buyer and seller are true professionals, and the transaction closed ahead of schedule without any renegotiation from the original agreement. We are very pleased with the performance of both groups,” he concludes.

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

http://www.institutionalpropertyadvisors.com/

Property Manager Who Allegedly Swindled Property Owner Out of $131,000 Arrested in Sweetwater, FL

 Sweetwater, FL, May 19, 2012 – The city of Sweetwater, FL reports today Sweetwater police detectives closed a white collar police case that had been ongoing since Jan. 2010 in three months.

Sweetwater police took over the case from Miami-Dade Police in Feb. when the property owner came into the station to report the suspected theft.

Rolando Perez, who lives at 14840 SW 148th Street, was arrested at 6:15 a.m. May 18, 2012 and charged with organized scheme to defraud and grand theft for stealing $130,976 from the owner of Sundance Village Apartment Complex (middle right photo) in the 11300 block of Northwest Seventh Street.

 Perez allegedly stole the money between Jan. 18, 2010 and Oct. 3, 2011, while he was employed as the property manager of Sundance Village Apartments Complex. Tenants of the complex allegedly would give Perez checks and money orders without the payee information filled in. Tenants would also allegedly give Perez cash. Perez  allegedly would deposit the cash, checks and money orders into his personal accounts.

Sweetwater detectives acquired 23 sworn and notarized statements and copies of forms of payments/receipts from past tenants showing that rent money was allegedly received by Perez but not deposited into the Sundance Apartment’s account.

 Contact:

  

Michelle Hammontree-Garcia

City of Sweetwater

Public Affairs Specialist

Cell: 786-317-2322

Office: 305-485-4539

mhammontree@cityofsweetwater.fl.gov

Twitter@SweetwaterCity

Like Us on Facebook: City of Sweetwater

City Hall/Police Department

500 SW 109th Avenue

Miami, Fl 33186

Colliers International Completes $2.1 Million Sale of a U.S. Post Office Property in Inglewood, CA

Los Angeles, CA, May 19, 2012 – Colliers International, the third largest global real estate services organization, has completed the $2.1 million sale of a 12,221-square-foot U.S. Post Office facility (top left photo) located at 811 N. La Brea in Inglewood, Calif.

 William Gloege (middle right photo) of Colliers International represented the seller, Arlington, MA-based IIse Perlman Trust. Julian Torkan of Madison Capital Group represented the buyer, Beverly Hills-based EFPAR Development, LLC.

The property had been identified on the possible closure list for the United States Postal Service. Due to the impending possible closure, the seller wanted to realize the best possible value for potential redevelopment or reuse before the expiration of the current lease.

In addition, the seller was able to realize the existing stream of income of the Government-backed lease.  This closed transaction accomplished the owner’s goal.

“Colliers was engaged to determine value the building on current income, future redevelopment, and re-lease potential. Once completed, it enabled us to create an attractive offering that would garner the highest price for the property,” said Gloege.

 “In the process of valuing the building and bringing it to market, I was able to generate multiple competing offers above the original asking price with short due diligence periods.  This transaction required a 30-day marketing period, 60-day escrow and a successful all cash closing.” 

 Gloege added that the new owner plans to rehab the building for a new retail use, maximizing the potential of the property.

Contact:  darcie@spauldingthompson.com

Morrison Commercial Real Estate Completes Lease Transactions totaling 57,900 SF in Central Florida

 ORLANDO, FL -- Morrison Commercial Real Estate announced the completion of two lease transactions totaling 57,900± square feet.

Damien Madsen (top right photo) of Morrison Commercial Real Estate represented Community Food and Outreach Center in renewing and expanding their lease by 7,000± square feet for a total of 29,400± square feet at 150 W. Michigan Street in Orlando, FL. 

 Community Food and Outreach Center’s mission is to provide a hand up for those in need, helping them to break free from poverty by offering hunger relief, crisis care, transformative education, and employment training opportunities.

Damien also represented D1 Sports in leasing 28,500 square feet in the Florida Business Interiors building at Williston Park Point (lower left photo) in Lake Mary.

 D1 Sports provides athletes with superior sports training through knowledgeable and experienced world-class coaches in a proper motivational environment.  Their training facilities teach core values and accountability to athletes.

 Contact:

Cindy Geer

Phone: 407.219.3500

Email:  cgeer@morrisoncre.com

Berkeley, CA Apartment Complex Trades for $11.9 Million

 BERKELEY, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Berkeley Delaware Court Apartments (top left photo), a 34,955-square foot lender-owned property in Berkeley with 51 apartment units and 7,500 square feet of retail space.

The $11,925,000 sales price equates to $219,117 per unit when allocating $100 a square foot to the vacant retail space.

Taylor Flynn (middle left photo) and Eli Davidson (middle right photo), associates, along with Vincent Schwab (lower left photo), a senior vice president investments in Marcus & Millichap’s San Francisco office, exclusively represented the seller, First Citizens Bank of Southern California.

Flynn, Davidson and Schwab also represented the buyer, Hudson McDonald LLC, an urban infill development firm based in Berkeley.

 “Originally, this property was developed as a condominium project,” explains Flynn. “First Citizens Bank gained control of the asset in late 2011 and after a 45-day marketing period, we received 12 qualified offers from a variety of investors and closed on May 7, 2012.

"The new ownership group is able to obtain $8.4 million in construction financing on the asset even though it was 70 percent vacant at the time of closing,” Flynn notes.

“This is a very well-located property in a strong East Bay submarket, where rents continue to rise,” says Schwab. Healthy demand, including demand from students who attend nearby University of California, Berkley, will enable the new ownership to lease up the remaining vacant apartment units and achieve strong returns over the near and long term,” he adds.

Constructed in 2011, Berkeley Delaware Court Apartments is located at 1800 San Pablo Ave. In addition to three studio units, 40 one-bedroom units, eight two-bedroom units and one 7,500-square foot retail space that can be divided into six separate addresses, the property includes a 67-car parking garage.

The well-designed Berkeley Delaware Court Apartments complex is situated along one of the main arteries of Berkeley – San Pablo Avenue – only two blocks from University Avenue. The property is within walking distance of the Fourth Street commercial district, North Berkeley Bay Area Rapid Transit (BART) station and the Berkeley Amtrak station.

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

W Fort Lauderdale Condo-Hotel Sales Top $16.5 Million In 1st Year

 MIAMI, Fl --Developer sales at the newly launched W Fort Lauderdale (top left photo) condo-hotel project in the Downtown Fort Lauderdale and Beach coastal market are proceeding at a pace of nearly two units per month after the first year of transactions, according to a new report from CondoVultures.com.

As of March 31, 2012, buyers have acquired more than 20 units for a combined price of $16.5 million in the 171-unit tower that stands on the west side of the W Fort Lauderdale property - also known as the Fort Lauderdale Residences hotel condominium - in the 400 block of North Fort Lauderdale Beach Boulevard, according to Broward County records

A twin 24-story tower located on the east side of the rectangular-shaped W Fort Lauderdale property currently operates as a traditional hotel with no units for sale, according to government records.

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

Condo Vultures® LLC is a real estate consultancy and marketing company based in the 225 Midtown Building at 225 NE 34th St., Suite 209B, Downtown Miami, Florida, 33137. Condo Vultures® LLC can be reached at 800-750-0517.

Tradition at Palm Aire in Sarasota, FL Commands $13.5 Million

SARASOTA, FL –Institutional Property Advisors (IPA), a recently formed multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has closed the sale of Tradition at Palm Aire (top left photo), a 178-unit multifamily property located in the northern Sarasota community of Palm Aire.

The sales price of $13.5 million represents a price of $75,843 per unit or $54 a square foot.

Jamie B. May (middle right photo), a senior IPA Florida director, represented the seller, Beachwold Residential. The buyer is Preston Giuliano Capital Partners.

“Originally a 248-unit condo conversion, Tradition at Palm Aire provides the new owner with 178 units at a significant discount to historical retail sales prices and well below replacement cost,” says May. “The units are presently 95-percent leased and generate strong cash flow, providing new ownership with the flexibility of holding units as rentals until the retail sales market for condominiums recovers.”

“Florida’s recently extended Distressed Condominium Relief Act has made purchasing and owning fractured condominiums much more attractive,” adds May.

The 175,684-square foot property was built in 1991 on 28.3 acres at 8445 Gardens Way in Sarasota in the midst of the vibrant and sought-after University Parkway area.

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

http://www.institutionalpropertyadvisors.com/

Marcus & Millichap Promotes Benjamin H. Firestone and David N. Gaines to Associate Vice President Investments Positions

CHICAGO, IL –Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Benjamin H. Firestone (top right photo) and David N. Gaines (middle left photo) to associate vice president investments.

This achievement is one of the highest levels of recognition the firm awards to its investment specialists.

 It represents excellence in the development and servicing of long-term client relationships, according to John M. Przybyla (lower right photo), first vice president and regional manager of the firm’s Chicago Downtown office.

Most recently, Firestone and Gaines held the title of senior associate.

Firestone began his career with Marcus & Millichap in May 2006 and was named senior associate in May 2009. He specializes in the sale of seniors housing real estate and has received two sales recognition awards from the firm.

Gaines began his career with Marcus & Millichap in May 2004 and was named senior associate in May 2007. He specializes in the sale of multifamily real estate and has received two sales recognition awards from the firm.

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

Champion Real Estate Co. Announces New Partnership with Chris Wilson to Acquire, Develop and Renovate $200 Million of Retail Properties Throughout California

 LOS ANGELES, CA, MAY 18, 2012 — Champion Real Estate Company and Chris Wilson (top right photo), founder of Wilson Commercial Real Estate have announced a partnership called Champion-Wilson Retail to acquire, develop and renovate retail properties throughout California.

 Champion Real Estate Company has allocated $50 million of equity to the venture, which could be leveraged up to $200 million in properties over the next three years.  Wilson, will spearhead the new venture’s efforts, while retaining his current role as Founder and Chairman of Wilson Commercial Real Estate.

Champion-Wilson Retail will focus on acquiring existing retail projects with value add opportunity; distressed retail assets and notes; and prime shopping center and urban retail land. The venture also expects to leverage Champion’s public-private expertise to resurrect retail projects abandoned as a result of the demise of Redevelopment Agencies in Southern California. The venture will consider opportunities in prime retail markets ranging in price from $10 million to $100 million. 

“For the past 22 years, Chris has been a leader in the retail brokerage industry on the West Coast,” said Bob Champion (top left photo). “We are confident that now is a great time to take advantage of the recovering retail market and that Chris' knowledge of the market will provide the venture the opportunity to acquire great opportunities.”

"This is an exciting time in the retail industry and I am looking forward to working with Bob and his team on this venture, in addition to expanding the capabilities of Wilson Commercial Real Estate," said Wilson.  "Bob is an commercial real estate icon on the West Coast who has succeeded in this industry countless times over the past 25 years."

 For more information, please visit http://www.championrealestatecompany.com/.

Contact:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Hilton Woodcliff Lake Announces SENSEational Events

WOODCLIFF LAKE, NJ – May 18, 1012 – Hilton Woodcliff Lake (top left photo) today announced a new group event promotion, SENSEational Events. Starting on May 16, 2012, the hotel will offer meeting planners the ability to build a group event at the property combining a unique off-site experience with responsible business impact.

Connect with Hilton Woodcliff Lake at

www.facebook.com/hiltonwoodclifflake, www.twitter.com/HiltonWdclifLak,

 www.youtube.com/watch?v=vREG9e1yH7g

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

Scott Becque

 Hilton Woodcliff Lake

+201 505 4436

scott.becque@interstatehotels.com

Debbie Previti

 Hilton Woodcliff Lake

+201 505 4466

debbie.previti@interstatehotels.com

Watt Properties Awards Charles Dunn Co. 526,000-SF Retail Property Management Assignment in Los Angeles and Ventura Counties, CA

LOS ANGELES, CA. May 17, 2012 – Charles Dunn Company, one of the largest full-service regional real estate firms in the Western United States, has been awarded a nearly 526,000 square foot property management assignment from Watt Properties, a division of Santa Monica, Calif.-based Watt Companies.

The seven-property portfolio consists entirely of retail centers – six of them located in Los Angeles County and one in Ventura County.

“We are honored to add Watt, a major regional commercial real estate owner, to our diverse roster of property management clients,” said Patrick Conn (top right photo), president of Charles Dunn Company’s Management Services division.

 “Our ability to proactively provide an entrepreneurial, hands-on approach combined with our depth of management resources, were both key factors in winning this substantial new business.”

The properties Charles Dunn will be managing range in size from nearly 11,000 square feet to more than 132,000 square feet. Romy Miura, senior portfolio manager with Charles Dunn, will oversee management on all seven locations with James Byun (lower right photo) serving as assistant property manager.

“This is the first time Watt has gone outside of its own firm for property management services,” said Wendy Campbell (middle right photo), vice president, property management, Watt Commercial Properties.

 “We selected Charles Dunn Company based on the firm’s consistently strong level of customer service and depth of expertise in successfully managing retail properties. Additionally, we were seeking a firm that was a match with our corporate culture and values that would be a natural extension of our company. Charles Dunn fit that requirement as well.”

Contact:

Darcie Giacchetto

D.G. Communications, Inc.

949.278.6224

Colliers International Completes $1.01 Million Sale of an 8-Unit Multifamily Property in Altadena, CA

Los Angeles, CA, May 17, 2012 – Colliers International, the third largest global real estate services organization, has completed the $1.01 million sale of an eight-unit apartment property located at 692 E. Pine Ave (top left photo). in Altadena, Calif.

 Han Widjaja Chen (bottom right photo) and Jeff Abraham of Colliers International represented the seller, a Northridge-based private investor. Chen also represented the buyer, Pasadena-based 692 Pine, LLC. The property was purchased at a 6.50 percent cap rate and was 100 percent occupied at the close of escrow.

“The Colliers International brokers worked together with the seller who was in a 1031 exchange, to identify a buyer for the property,” said Chen.

 “Additionally, there was a collaborative effort within Colliers to team with our firm’s North Los Angeles industrial brokers, John DeGrinis, Patrick DuRoss and Jeff Abraham, to help achieve the client’s business expansion by selling the apartment property and acquiring an industrial building for the seller’s business.”

.

Contact:

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224