1,450 New Condo Units Proposed For Hollywood / Hallandale Beach, Florida Market

Apogee Beach Condominiums rendering
Miami Beach, FL

 MIAMI, FL -- Developers are proposing nearly 1,450 new condo units - in projects such as the Beach One Resort, H3, Positano Phase II, and Sage Beach - in the Hollywood / Hallandale Beach coastal market in Southeast Broward County at a time when South Florida real estate shows signs of improving from a crash that began in 2007, according to a new report from CondoVultures.com.

The Related Group - a Miami-based developer that is already constructing the Apogee Beach condominium fronting the Atlantic Ocean in Hollywood - hosted a condo launch party on Feb. 21 to officially begin sales for a second proposed project - the Beachwalk - slated for a nearby site in the city of Hallandale Beach, according to the newly launched preconstruction condo project website Cranespotters.com.

A combination of domestic and international developers - in unrelated projects - are proposing to construct 11 towers with a combined 150 floors of units in a market that stretches from the Sheridan Street south to the Miami-Dade County line, and the Atlantic Ocean west to Federal Highway as of Feb. 22, 2013, according to the Preconstruction Condo Projects Database™ compiled by the licensed Florida brokerage CVR Realty™.

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

Condo Vultures® LLC

225 Midtown Building 

225 NE 34th St.,

Suite 209B,

Downtown Miami, Florida, 33137.

1-800-750-0517

New Casa Mofongo Restaurant at Downtown Avalon Park,FL means 65,000-SF Town Center is fully leased

AVALON PARK, FL --- Avalon Park Group, which is developing the 1,800 acre Avalon Park community in southeast Orlando, reports it recently closed on a new long term lease agreement for 1,769 square feet of retail space in the Towncenter II building in Downtown Avalon Park with Casa Mofongo, a very popular franchise from Puerto Rico.

Stephanie Hodson, vice president of marketing at Avalon Park Group, said the new lease marks two important milestones for the community developer.

Downtown Avalon Park, FL

“Casa Mofongo is the 15th and newest dining venue in Downtown Avalon Park,” Hodson said.

In addition, the new Latin eatery, which seats 60 patrons took the last available retail space that Avalon Park Group owns in the 65,000 square foot downtown district.   The anticipated open date is at the end of March 2013.

“We are 100 percent leased,” Hodson said. Avalon Park is located off Alafaya Trail south of SR 50 in Southeast Orlando.

Contact:

Stephanie Hodson, Vice President of Marketing, Avalon Park Group 407-658-6565 

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

Charles Dunn Co. Completes $1.82 Million Sale of 10-Unit Multifamily Property in Los Angeles, CA

  

3311 Bagley Ave., Los Angeles, CA

 LOS ANGELES, CA – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $1.82 million sale of a 10-unit multifamily property located at 3311 Bagley Ave. near the major cross streets of National Blvd. and Robertson Blvd. in Los Angeles.

Michel Hibbert, CCIM, and Dan Johnson with Charles Dunn Company in the West Los Angeles office, represented the seller, Los Angeles-based Chiueh Family Trust. 

Michel Hibbert

The buyer, was Los Angeles-based Marble Family Trust who was represented by Maurice Morales of Coldwell Banker. The closing cap rate was 4.5 percent. 

The property includes six, one-bedroom/one-bathroom units, two, two-bedroom/two-bathroom units, one studio and one, three-bedroom/three-bathroom unit. The property was fully occupied at the close of escrow. 

Dan Johnson

“The asset was marketed to the local apartment ownership base and we focused on the value-add opportunity for a new buyer to bring the rents up to market rates and renovate the property.  After aggressively marketing the property, we were able to garner a final sale price of 99.7 percent of the asking price.”

Michel Hibbert has completed more than $500 million in transactions over his career and has been one of Charles Dunn Company’s top multifamily brokers year-over-year for the firm.

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

 Darcie Giacchetto

D.G. Communications, Inc.

949.278.6224

Beech Street Capital Recruits Carolyn Whatley to Continue Building HUD and FHA Business

Carolyn Whatley

BETHESDA, MD – Beech Street Capital, LLC, announced today that it has named Carolyn Whatley senior vice president of originations.

Based in Palm Beach, Florida, Whatley will support Beech Street’s FHA business nationwide, with an emphasis in the southeast.

A twenty-five-year veteran with extensive experience in multifamily finance and development, Whatley has originated, underwritten, or closed nearly $1 billion in multifamily and commercial real estate loans for projects in 43 states.  

 ”During our first three years, we’ve established ourselves as national leaders in Fannie Mae and Freddie Mac transactions,” says Grace Huebscher, Beech Street’s president and CEO.  “Our HUD business has been growing exponentially, and bringing Carolyn on board is part of our strategy to build a leadership position in that business as well.” 

 Prior to joining Beech Street, Whatley was first vice president at Love Funding Corporation, where she was honored as top producer in 2005 and for closing the firm’s largest single transaction in 2005 and 2009. 

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

 Courtney Lewis  

240-507-1948

Jenifer Bernardi  

240-507-1946.

$12.2 Million Shopping Center Sale in Waterbury, CT Arranged by Marcus & Millichap

Joseph French

WATERBURY, CT– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Mattatuck Plaza, a 146,930-square foot community shopping center in Waterbury, Conn. The sales price of $12.2 million equates to $83 per square foot.

Thomas Dalzell

Joseph French, a senior director in the firm’s National Retail Group, and Thomas Dalzell, an associate director, both in Marcus & Millichap’s White Plains, N.Y. office, represented the seller, a Boston-based private investment firm and the buyer, a private investor based in Florida.

J.D. Parker, vice president and regional manager of the White Plains office, is Marcus & Millichap’s broker of record in Connecticut.

J.D. Parker

 “Mattatuck Plaza was 80 percent leased at the time of the sale and  attracted a great deal of interest from a wide range of investors who saw the upside potential in the lease-up of 30,050 square feet,” says French.

            Located at 650 Wolcott St., the property is one mile from the 1.2-million square foot Brass Mill Center & Commons mall in Waterbury.

            Tenants at Mattatuck Plaza include Big Lots, Savers, Harbor Freight, Dollar Tree, Chuck E. Cheese and Rainbow.

Contact:

Public Relations

(925) 953-1716

NAI Realvest Negotiates sale of three-acre commercial development site in Winter Springs, FL

Paul P. Partyka

Maitland, FL --- NAI Realvest recently negotiated the sale of a three-acre development site on the west side of Winding Hollow Blvd. just south of SR 434 in Winter Springs.

Paul P. Partyka, managing partner at NAI Realvest, negotiated the transaction representing the seller, Wintersprings Land LTD based in Maitland.  

 The buyer, Altamonte Springs-based Florida Trust Administration LLC, will develop a professional office facility on the site at the entrance of the Winding Hollow subdivision.  The project will be called the Offices at Winding Hollow.

Gary Medley of Venture I Properties Inc. represented the buyer in the transaction.

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

Paul P. Partyka, Managing Partner, NAI Realvest 407-875-9989 ppartyka@realvest.com;    

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

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

Jones Lang LaSalle Completes $9.8 Million in Phoenix, AZ Multifamily Sales

Indigo Apartments, 16160 S. 50th Street
Phoenix, AZ

 PHOENIX, AZ – The Jones Lang LaSalle Phoenix Capital Markets Team has completed two multifamily investment sales that will move the local Cobalt and Indigo rental properties from a “stalled” and distressed position on to a new track for quick completion and delivery to the Phoenix rental pool.

“The recession stopped many local multifamily and condo construction projects in their tracks, and some of these distressed sites have been sitting, unfinished, for years,” said Jones Lang LaSalle Executive Vice President John Cunningham.

Cobalt Apartments, Phoenix, AZ

“As our market fundamentals improve, we’re seeing properties like Cobalt and Indigo come under new ownership, gaining the capital resources they need to transition from a community eyesore to a completed, active rental complex. It is a very positive trend.”

Seattle-based Goodman Real Estate purchased Cobalt for $5.6 million and Indigo for $4.2 million.

John Cunningham

Cunningham, along with Jones Lang LaSalle Vice President Charles Steele, represented the properties’ seller, Newport Beach, Calif.-based Sabal Financial Group, which specializes in the acquisition of distressed real estate loans and bank credit advisory services.

Located at 32nd Street and Union Hills in Phoenix, Cobalt is a gated Class A multifamily property that includes 24 completed units and land for a 66-unit expansion.

Charles Steele

Indigo is a fractured Class A condominium asset totalling 30 units at 16160 S. 50th Street, near I-10 and Chandler Boulevard in Ahwatukee. Seventeen of Indigo’s units were previously sold as condominiums, however the new owner is pursuing acquisition of these sold units as part of its de-fracturing strategy. Indigo also has infrastructure in place to build an additional 78 units.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

Southern California Female Construction Executives Begin Professional Organization for Women in Construction Operations

(Pictured Left to Right, Front to Back)

Lia Tatevosian, Michelle Garcia, Shaabini Alford , Lucy Villanueva, Sammi Maya, Elle Navarro,, Kasie Bowden, Amanda Corbet, Holly Cindell, Kathlynn Smith, LaDrena Dansby, Sarah Creighton, Jessica Drake, Nancy Goldman

Newport Beach, CA  (Feb. 21, 2013) – Sarah Creighton and Holly Cindell of McCarthy Building Companies, Inc. of Newport Beach are among a group of pioneering women from Southern California construction, architecture and engineering companies to begin WiOPS—a new professional organization geared specifically toward women in construction operations.

Holly Cindell

Creighton and Cindell were named co-chairman for the new organization which aims at mentoring women working in the operations side of construction.

“Women make up less than 10% of the construction workforce with an even smaller number in professional and managerial positions,” said Sarah Creighton, vice president operations, education services for McCarthy Building Companies of Newport Beach. 

“There are other industry organizations out there for women in construction, but none of them are tailored to women in construction operations roles. We started WiOPS to fill that gap.”

This past summer, Creighton and Cindell joined with 13 other women in likeminded careers to set up a board and establish goals and a mission for WiOPS. As a result, the group determined their primary goal will be to facilitate mentorship of up and coming women in the construction, architecture and engineering professions.

Sarah Carr Creighton

The WiOPS founding board members include: Co-chairmen, Holly Cindell and Sarah Creighton, McCarthy; Vice Chairman, Nancy Goldman, Jezowski & Markel; Secretary, Kasie Bowden, Hensel Phelps Construction Co.; Treasurers, Lia Tatevosian, Swinerton Builders and Lucy Villanueva, McCarthy; Membership, Amanda Corbet, McCarthy and Events Coordinator, Shaabini Alford, Murray Company.

Other WiOPS members instrumental to the group’s founding include: Bernadette Reyes, Clark Construction Group; LaDrena Dansby, USC Capital Construction Development; Elle Navarro and Michelle Garcia, Hensel Phelps Construction Co.; Sammi Maya, McCarthy; Jessica Drake, Swinerton Builders and Kathlynn Smith, Hunt Ortman and founder of SmartGirls and SmartGirls’ Guide to Construction Law.

WiOPS membership is open to women and men in construction, architecture and engineering industries serving in operations, managerial, estimating, engineering and design career paths.

 For more information about membership or to sign up to attend their next meeting, please visit www.womeninoperations.com

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

Laura Mickelson

 (LM Communications)                                                                 

Lauramickelson@cox.net;

(949) 453-0851                            

Post Properties Announces Quarterly Dividends

ATLANTA, GA--(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate investment trust, today announced quarterly dividends on its common stock of $0.25 per share for the first quarter of 2013. The dividend is payable on April 15, 2013 to all common stockholders of record as of March 29, 2013.

 

Post also announced regular quarterly dividends on its 8.5 percent Series A Cumulative Redeemable Preferred Stock of $1.0625 per share for the first quarter of 2013. The dividend is payable on April 1, 2013 to all Series A preferred stockholders of record as of March 15, 2013.

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

Post Properties, Inc.

Chris Papa, 404-846-5000

Loews Hotels & Resorts Announces Troy Furbay as Chief Investment Officer

Troy Furbay

NEW YORK, NY - (Feb. 21, 2013) - Loews Hotels & Resorts, a wholly owned-subsidiary of Loews Corporation (NYSE: L), today announced the promotion of Troy Furbay to Chief Investment Officer, responsible for leading the company’s property acquisitions, real estate development and capital raising.

 Furbay, who joined Loews Hotels & Resorts in 2010, has played an integral role as the company continues to expand its brand.  Under his leadership, Loews has recently acquired hotels in Los Angeles, Washington, D.C. and Boston as well as hotels under construction in Chicago and Orlando.

Paul Whetsell

“Troy and his team are playing a vital role as we focus on growing and expanding our portfolio,” said Paul Whetsell, President and CEO of Loews Hotels & Resorts.  “He has a proven track record of successfully closing deals including the addition of three key assets to the Loews brand in the past year.”

 Prior to joining Loews, Furbay held the position of Senior Vice President of Acquisitions and Development for Kimpton Hotels, where he played an instrumental role in the company’s expansion through acquisitions, management contracts and joint ventures.  Earlier in his career, Furbay spent time with MeriStar Hotels and KPMG in development positions.  He started his hospitality career with Sheraton Hotels in 1990. 

Furbay received his MBA in finance from Fordham University and resides in New York City with his wife and two children.

 Like Loews Hotels & Resorts on Facebook: www.facebook.com/LoewsHotels

Follow Loews Hotels & Resorts on Twitter: www.twitter.com/loews_hotels

Watch Loews Hotels & Resorts on YouTube: www.youtube.com/LoewsHotels

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

Loews Hotels & Resorts

Lark-Marie Anton                                                                  

(212) 521-2779

lanton@loewshotels.com

  

Sarah Murov

(212) 521-2495

smurov@loewshotels.com

 www.loewshotels.com

Faris Lee Investments Tapped to Market For-Sale 20 Ruby Tuesday Restaurants

IRVINE, CA, Feb. 21, 2013 – After successfully marketing and selling 28 Ruby Tuesday properties totaling approximately $65 million on behalf of Ruby Tuesday, Inc. (NYSE: RT), Faris Lee Investments, the nation’s largest retail-specialized investment advisory firm, has been engaged once again to sell an additional 20 properties valued in excess of $60 million.

                In December 2011, Faris Lee was selected to market a first phase of properties occupied by Ruby Tuesday restaurants. 

Matt Mousavi

Since taking the assets to market, Faris Lee has now completed phase one with all 28 properties sold. This accomplishment marks the largest sale-leaseback offering by a publicly traded restaurant operator to the private marketplace ever.

                “Faris Lee was able to execute on the first 28-property offering at record-breaking cap rates never achieved in many of the markets where these properties were located,” said Matt Mousavi, managing director of Faris Lee Investments who represented Ruby Tuesday, Inc. as well as the majority of the individual buyers on the transactions.

Rick Chichester

“As opposed to selling the properties in a portfolio scenario, Faris Lee employed the strategy to sell the properties individually which insulated value and provided access to the seller to the vast private-market net leased buyer pool, resulting in higher proceeds per unit for the seller, and cap rates 200 basis points below the institutional buyer for the same offering.”

                “This assignment has been incredibly successful,” said Rick Chichester, president and COO of Faris Lee Investments. “Faris Lee has been able to raise a substantial amount of liquid capital for Ruby Tuesday, Inc. This has strengthened the company's balance sheet and provides the company with the capital for opportunistic share repurchases, to expand their store base, re-structure debt and make acquisitions.”

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

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

www.farislee.com

NorthWest International Healthcare Properties REIT announces monthly distribution

TORONTO, Feb. 21, 2013 /CNW/ - NorthWest International Healthcare Properties REIT (the "REIT") announced today that it has declared a

distribution of $0.013334 per trust unit (TSX-V: MOB.UN) for the month of February 2013.  The distribution will be paid on March 15, 2013 to

unitholders of record as at February 28, 2013.

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

Paul Dalla Lana, CEO,

 (416) 366-8300 x1001

Brian Wilson, CFO,

(416) 366-8300 x1111

Wyndham Brand Grows in Latin America with Nicaragua Hotel

Wyndham Milagro del Mar Resort rendering

PARSIPPANY, N.J. (Feb. 21, 2013) – Wyndham Hotel Group, the world’s largest hotel company with over 7,340 hotels and part of Wyndham Worldwide Corporation (NYSE: WYN), today officially announced the planned expansion of its upscale Wyndham® Hotels and Resorts brand in Latin America with the addition of the 212-key Wyndham Milagro del Mar Resort on Nicaragua’s Pacific Coast.

San Diego Beach, Nicaragua

 The beachfront hotel, currently under construction on Villa El Carmen’s Playa San Diego (San Diego Beach), will become Wyndham Hotel Group’s first property in Nicaragua. Owned and developed by HB International, the property is scheduled to open in 2014.

 The agreement is another integral step in a focused strategy to increase Wyndham Hotel Group’s presence in Latin America. The company announced its 100th hotel in the region late last year and, as of Dec. 31, 2012, has 73 properties in the pipeline in Mexico, Central America, South America and the Caribbean.

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

Kathryn Zambito

Public Relations Manager

Wyndham Hotel Group

22 Sylvan Way

Parsippany, NJ  07054

(973) 753-6590

kathryn.zambito@wyn.com

HFF arranges $19.8 million financing for a student housing community located in Greenville, NC

North Campus Crossing pool, Greenville, NC

SAN DIEGO, CA – HFF announced today that it has arranged $19.8 million in financing for North Campus Crossing – Phase II, a 276-unit, 816-bed, purpose-built student housing community serving East Carolina University in Greenville, North Carolina.

Tim Wright

HFF worked exclusively on behalf of a joint venture between Pierce Education Properties, LP and Core Properties LLC to secure the fixed-rate loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.  

The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.  Loan proceeds were used to acquire the property.

 Completed in two phases during 2005 and 2006, North Campus Crossing features best-in-class amenities including a resort-style zero-entry pool, full-size gymnasium, indoor volleyball court, double sand volleyball courts, basketball courts, weight and cardio room, aerobics classes, tanning beds, computer lab and theatre room.

The HFF team representing the borrower was led by senior managing director Tim Wright and associate director Zack Holderman.

East Carolina University, Greenville, NC

Pierce Education Properties, LP is a San Diego-based owner, manager and developer of Class A, purpose-built student housing and education-based real estate.  

Pierce is recognized as one of the top owners/managers of student oriented assets with a national portfolio of approximately 4,500 beds.  

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

Kristen M. Murphy

Associate Director

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

krmurphy@hfflp.com

HFF arranges $14 million refinancing for Class A office building in Santa Monica, CA

2700 Pennsylvania Avenue, Santa Monica, CA

LOS ANGELES, CA – HFF announced today that it has arranged a $14 million refinancing for 2700 Pennsylvania Avenue, a 62,000-square-foot, Class A office building in Santa Monica, California.

Working on behalf of The Luzzatto Company, Inc. and Welk Real Estate, Inc., HFF secured the seven-year, fixed-rate loan though Principal Real Estate Investors.

Chris Vittetoe

2700 Pennsylvania Avenue is located a few blocks from the intersection of Cloverfield Boulevard and Interstate 10 in Santa Monica and one block from the new Bergamot Station of the Expo Light Rail line that will open in 2015.  The creative office space is 100 percent leased to two tenants: Yahoo! and Jakks Pacific.

The HFF debt placement team representing the borrower was led by director Chris Vittetoe and real estate analyst Steven Paskhover.

Marc L. Luzzatto

“The HFF team was highly effective in helping us evaluate the many attractive options for financing this irreplaceable asset,” said Marc L. Luzzatto, chief executive officer of The Luzzatto Company. 

The Luzzatto Company, Inc. and its affiliates (“TLC”) invest in real estate and real estate-related debt, with existing investments in California, Washington, Oregon, Nevada, Hawaii, Texas, Illinois, Alabama, Georgia and Missouri.

 TLC acquires properties through its equity fund, The Luzzatto Real Estate Value Fund I, L.P., as well as through existing ventures and partnerships with high net-worth individuals and institutions.  TLC also manages the assets and properties of Welk Real Estate, Inc., the real estate affiliate of the Lawrence Welk family holding company.  

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

Kristen M. Murphy

Associate Director

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

krmurphy@hfflp.com