HFF secures $73 million financing for 17Seventeen McKinney in Dallas, TX

17Seventeen McKinney, Akard Street and McKinney Avenue, Uptown Dallas, TX

 

Trey Morsbach

DALLAS, TX – HFF announced today that it has secured $73 million in financing for 17Seventeen McKinney, a 369,014-square-foot, 19-story, Class AA office property in Dallas’ Uptown submarket.

               HFF worked on behalf of Granite Properties to secure the seven-year, fixed-rate loan through Regions Bank.  Loan proceeds will be used to replace the original construction loan on the property.

17Seventeen McKinney is located on the corner of Akard Street and McKinney Avenue proximate to Dallas’ new Clyde Warren Park in the Uptown/Turtle Creek submarket. 

The property shares a full city block with the newly-developed, luxury residential community Park Seventeen, and is adjoined by an amenities deck that includes a state-of-the-art fitness center, a variety of vegetation, and convenient seating areas for tenants. 

Completed in 2010, the LEED Gold certified building is 95 percent leased to tenants such as Regions Bank, Huitt-Zollars, Red Bull North America, Top Golf, Clarion, American Airlines, and Bain & Company along with several other regional companies. 

               The HFF team representing the borrower was led by senior managing director Trey Morsbach and associate director Jim Curtin.

Jim Curtin

Granite Properties, Inc. is a diversified real estate investment and management company with offices in Atlanta, Dallas, Denver, and Houston. 

Since its inception in 1991, Granite has acquired and developed over 20 million square feet of real estate and currently owns and manages an extensive portfolio, including over 10 million square feet of office, industrial and retail properties in several states.

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

Taylor & Mathis’ Brian Gale Sees No Slowdown in Sight as His Leasing Team Looks Towards Another Record Breaking Year

The Taylor & Mathis of Florida Miami-Dade Leasing Team, from left: Andrew Trench, Nicole Gamarra, Brian Gale, Jeannette Mendoza and  Ryan Holtzman

Miami, FL,  Jan. 29, 2014 --  The Taylor & Mathis of Florida Miami-Dade leasing team had a record breaking year in 2013. 

The team whose leasing portfolio encompasses four million square feet of office space throughout Miami-Dade as well as an office tower in West Palm Beach completed over 100 leases last year. 

Brian Gale

The leases totaled nearly 700,000 square feet and were valued at $165 million.

 “The office market is sizzling right now,” said Taylor & Mathis Principal Brian Gale. 

 “Rents are increasing and tenant concessions are beginning to dwindle. Most of the tenant expansions have been in the field of professional services which include law firms, accounting firms, insurance agencies, etc.

“The Downtown/Brickell market was the hottest of the Miami-Dade submarkets in 2013 and is showing no sign of slowing down. Rental rates are increasing as is the absorption of vacant spaces.

“Throughout our 4 million square foot portfolio, we leased over 322,000 square feet of new leases, 276,000 square feet of renewals and over 92,000 square feet of expansions. We did six leases over 30,000 square feet and two were over 40,000 square feet.”

Andrew Trench

Taylor & Mathis leasing team includes Brian Gale, Andrew Trench, Ryan Holtzman and Jeannette Mendoza.

Key lease deals included:

·         Akerman Senterfitt’s 40,000 square foot lease and Morgan Stanley’s 30,000 square foot renewal at Phillips Point in West Palm Beach

·         GrayRobinson’s 35,500 square foot lease at Wells Fargo Center in Downtown Miami

·         Quest Workspaces’ 20,000 square foot lease at 777 Brickell and 37,000 square foot lease at Espirto Santo Plaza in Miami’s Brickell Financial District

·         Weil Gotshal & Manges’ & Fowler White Burnett’s renewals at Espirito Santo Plaza

“One of the keys to the leasing team’s success was securing renewals and expansions,” said Andrew Trench, Taylor & Mathis Leasing Director.

“Many of our existing tenants were courted heavily by nearly every Brickell and Downtown Miami office building including the new developments. 

Phillips Point, West Palm Beach, FL

“The key to getting those deals done was our existing relationships and our outstanding management teams. We were able to negotiate and finalize those renewals relatively smoothly, despite the market aggressively pursuing them.”

 Taylor & Mathis was named Property Management Company of the Year at the 2013 Miami-Dade BOMA awards.

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

Brian Gale, Principal, Taylor & Mathis

(305) 476-8880   bgale@taylormathis.com

Andrew Trench Leasing Director, Taylor & Mathis

(305) 476-8880   atrench@taylormathis.com

www.TaylorMathis.com.

Cuhaci & Peterson Architects awarded contract to design interior renovations at Mitchell’s Fish Market in Tampa, FL

 

Mitchell's Fish Market, Tampa, FL

Orlando, FL – Cuhaci & Peterson Architects Engineers Planners, based in Orlando’s Baldwin Park, have been awarded a contract to handle interior renovations at Mitchell’s Fish Market at the Westshore Plaza in Tampa.

Lonnie Peterson, chairman at Cuhaci & Peterson, said the renovation will include some 5,000 square feet of retail shop space.

Cuhaci & Peterson Architects is one of the nation’s leading designers of retail space with projects that total more than two million square feet annually.

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

Larry Vershel or Beth Payan, Larry Vershel Communications, Inc. 407-644-4142, lvershelco@aol.com   

The Hamptons Center for Rehabilitation and Nursing in Southampton, New York.

Ben Philipson
(Photo by Howard Schnapp)

 New York, NY – Jan. 29, 2014 – Greystone, a leading national provider of multifamily and healthcare mortgage loans, today announced it has closed a $54.5 million bridge loan for acquisition of The Hamptons Center for Rehabilitation and Nursing in Southampton, New York.

Fred Levine, originator in Greystone’s Monsey, New York office, worked to close the loan.

The interest-only bridge loan, closed by Greystone in 90 days, is the latest of multiple loans that Greystone has secured on behalf of SentosaCare over the past decade.

The Hamptons Center for Rehabilitation and Nursing is a 280-bed skilled nursing facility that currently has a 96.8% occupancy rate. The healthcare center provides a full range of services for its residents including rehabilitation, medical, housekeeping, lab work and physical therapy. 

“We’re an organization that places high importance on relationships, and after 10 years of working together, we believe Greystone shares the same values,” said Ben Philipson, principal of SentosaCare.

Arthur Hatzopoulos

 “As a trusted partner, Greystone is well-versed in navigating the challenges of securing financing for skilled nursing facilities and senior housing, especially in regions where property values are quite high,” Mr. Philipson added.

 “We have a great team at Greystone. They are talented, hard-working, and committed to meeting our customers’ interim and permanent financing needs and really exceeding their expectations,” said Arthur Hatzopoulos, Executive Managing Director at Greystone. “As a result, we find that valued new clients turn into valued long-term clients,” he added.

Greystone was the number one FHA lender in 2013 and is ranked as a top-10 Fannie Mae lender. 

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

Karen Marotta

PR Manager

Greystone

152 W. 57th Street

New York, NY 10019

212-896-9149 direct

917-902-7073 mobile

kmarotta@greyco.com

www.greyco.com  

Chatham Lodging Trust Announces 2013 Distribution Characterization

PALM BEACH, FL—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on upscale extended-stay hotels and premium-branded select-service hotels, announced the characterization of dividends declared in 2013 on its common shares for federal income tax reporting purposes.

Type of Dividend	Record Date	Payment Date	Dividend Per Common Share	Taxable Ordinary Income	Return of Capital
Regular	01/31/13	02/22/13	$0.07	$0.06	$0.01
Regular	02/28/13	03/29/13	0.07	0.06	0.01
Regular	03/28/13	04/26/13	0.07	0.06	0.01
Regular	04/30/13	05/31/13	0.07	0.06	0.01
Regular	05/31/13	06/28/13	0.07	0.06	0.01
Regular	06/28/13	07/26/13	0.07	0.06	0.01
Regular	07/31/13	08/30/13	0.07	0.06	0.01
Regular	08/30/13	09/27/13	0.07	0.06	0.01
Regular	09/30/13	10/25/13	0.07	0.06	0.01
Regular	10/31/13	11/29/13	0.07	0.06	0.01
Regular	11/29/13	12/27/13	0.07	0.06	0.01
Regular	12/31/13	01/31/14	0.07	0.06	0.01
			$0.84	$0.72	$0.12

No portion of the dividends declared in 2013 represented foreign taxes, capital gains or qualified dividend income.  The CUSIP number for Chatham Lodging Trust common shares is 16208T102.

Record holders of Chatham Lodging Trust common shares who received any of the dividends specified in the table above will receive an Internal Revenue Service (IRS) Form 1099-DIV from Wells Fargo Bank, N.A., the company’s dividend paying agent. 

The Form 1099-DIV will report the dividends paid with respect to 2013.  Shareholders whose shares are held in “street name” will receive an IRS Form 1099 from the bank, brokerage firm, or other nominee holding their shares. 

The regular common share dividend declared for shareholders of record as of December 31, 2013, and payable on January 31, 2014, will be reported on shareholders’ IRS Form 1099 for the 2013 tax year.

The information in the table above is based on the preliminary results of work on the tax filings of Chatham Lodging Trust and is subject to correction or adjustment when the filings are completed.  No material change in these classifications is expected.

 

The tax information above should not be construed as tax advice and is not a substitute for careful tax planning and analysis.

Shareholders are encouraged to consult with their own tax advisors regarding the specific federal, state, local, foreign and other tax consequences of ownership of Chatham Lodging Trust’s common shares and the specific tax treatment of distributions on Chatham Lodging Trust’s common shares.

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

Dennis Craven

 (Company) 

 Chief Financial Officer                       

(561) 227-1386                                             

 www.chathamlodgingtrust.com

Sireeampan Boutique Resort & Spa Opens in Chiang Mai, Thailand

Sireeampan Boutique Resort & Spa, Downtown Chiang Mai, Thailand

Jitsak Lim-Pakornkul

Chiang Mai, Thailand -- Sireeampan Boutique Resort & Spa, an intimate 11-suite luxury resort in the heart of Chiang Mai opens today, in time to welcome the Chinese New Year of the Horse.

 With an exquisitely intricate design inspired by the Thai royal manors of the 18th century, Sireeampan Boutique Resort & Spa brings together the rich traditions of Siamese hospitality with modern luxury, offering highly personalized experiences for each guest.

 “We are delighted to welcome you to Sireeampan Boutique Resort & Spa,” said Jitsak Lim-Pakornkul, General Manager of the resort.  “Inspired by our stunning surroundings and Chiang Mai’s rich heritage, we’ve created a deeply memorable experience that will set a new standard for luxury hospitality in the region.”

With renowned Chef Scott Flaxman in charge of the kitchen in the resort, guests can enjoy truly unique and personalized experiences during their stay.  A South African by birth, Chef Scott has rich experience in the culinary world and was once private chef for celebrities, Heads of State, politicians and numerous well-known musicians

Chef Scott Flaxman

Tucked away in a lush setting that enhances privacy, Sireeampan Boutique Resort & Spa is a secluded sanctuary offering individually curated experiences for guests.

 Drawing inspiration from the intricate architecture of Thailand’s Ratanakosin era, the resort is built as a grand Thai house, with a cozy cloister of buildings that are encircled by lush gardens with 11 exquisitely appointed private guest suites, a full-service restaurant, a stylish piano lounge and wine cellar, and fully-equipped state-of-the-art fitness and business centers. 

With just 11 guest suites and a service philosophy that is rooted in the revered Thai hospitality culture, Sireeampan delivers an exceptionally bespoke experience for each and every guest.  

The elevated service of Sireeampan offers guests the pleasure of being indulged like royalty.  Ranging from 40 – 60 square meters, each guest suite is named for one of 11 gemstones that comprise Thailand’s rich jewelry heritage.

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

Hwee Peng Yeo

Director of Asian Markets

Glodow Nead Communications

Level 21, Centennial Tower

3 Temasek Avenue

Singapore 039190

Marcus & Millichap Capital Corp. Names Dean Giannakopoulos Director in Downtown Chicago Office

Dean Giannakopoulos

CHICAGO, IL,  Jan. 28, 2014 – Marcus & Millichap Capital Corp (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has promoted Dean Giannakopoulos to director in the firm’s Chicago Downtown office, according to MMCC’s central region vice president, Charles Krawitz.

“Dean’s ability to leverage the strength of the Marcus & Millichap Real Estate Investment Services platform, combined with his knowledge and experience, is a winning proposition for owners, buyers and agents,” says Krawitz.

Giannakopoulos began his career with MMCC in 2011 as an associate director. 

He has been involved in nearly $1.5 billion in commercial real estate finance transactions over his career and  is responsible for securing commercial debt and equity financing for an array of property types including multifamily, office and industrial, retail, manufactured housing and hospitality.

Charles Krawitz

According to Krawitz, Giannakopoulos arranged approximately $70,000,000 in commercial financing for both internal and external clients in 2013 through his relationships with national, regional and local funding sources.

Giannakopoulos received a Bachelor of Science degree in finance from the University of Illinois, Urbana-Champaign.

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

Gina Relva

Public Relations Manager

Marcus & Millichap Capital Corporation

(925) 953-1716

Fort Lauderdale Industrial Property Sells for More Than $1.2 Million

St. George Guardabassi

FORT LAUDERDALE, FL (Jan. 28, 2014) – Berger Commercial Realty broker St. George Guardabassi handled the sale of a 17,800-square-foot industrial building to Mareleng Inc. for $1,225,000.

 Guardabassi represented the seller, Baer Investment Management.

The property, which will be used by a marine engineering business, features a large rectangular warehouse with three docks, drive-in ramp door, 18-foot clear height ceilings, three-phase electricity, and ample parking and a fenced side yard.

 It is located at 840 N.W. 57th Place in Fort Lauderdale-- north of Commercial Boulevard, south of Cypress Creek Road, and east of Powerline Road, near I-95.

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

Marielle Sologuren

Pierson Grant Public Relations

(954) 776-1999, ext. 226

msologuren@piersongrant.com

Taylor & Mathis of Florida Garners Five TOBY Awards

Taylor & Mathis of Florida TOBY award-winning team

Marlene Diaz

MIAMI, FL –Jan.  28, 2014 –    Taylor & Mathis of Florida has garnered five TOBY (The Office Building of the Year) awards from the Miami-Dade chapter of the Building Owners and Managers Association (BOMA). 

  The organization held its 26th annual award program January 17th at the Historic Alfred I. Dupont Building in Miami. 

 “The level of dedication these individuals and our entire South Florida team puts into the properties is immeasurable by this award alone. They are an amazing group of people,” said Marlene Diaz, Taylor & Mathis Director of Operations.

“With these awards they have been distinguished by their industry peers for management excellence over many consecutive years, a standard that we know they consistently exceed.” 

Every year BOMA MIAMI-DADE honors outstanding buildings, property managers, and associates, not an easy task with so many great buildings and members competing for the coveted The Office Building of The Year or TOBY Awards.

Among the five awards received by Taylor & Mathis are

·         Rafael Lopez – Waterford at Blue Lagoon – Engineer of the Year (2 or less)

 Building of the Year Awards:

·         355 Alhambra, Coral Gables - 100,000 to 249,999 Square Foot Building –

Lisa Mitchell, Senior Property Manager

·         550 Biltmore, Coral Gables – Renovated.  Renovations for which the award was received included lobby renovations as well as mechanical and HVAC systems.

Hilda Mendoza, Property Manager

Peter Romero

·         

6100/6303 Waterford -Suburban Office Low Rise

Peter Romero, Senior Property Manager

·         6505 Waterford - Corporate Facility

Peter Romero, Senior Property Manager

The TOBY Awards are the most prestigious and comprehensive programs of their kind in the commercial real estate industry recognizing quality in office buildings and rewarding excellence in office building management.

 During the competition, all facets of a building's operations are thoroughly evaluated.

 Buildings are judged on everything from community involvement and site management to environmental and "green" policies and procedures.

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

Marlene Diaz

Taylor & Mathis|Director of Operations -

305.267.8062

 mdiaz@taylormathis.com

www.TaylorMathis.com.

NAI Realvest Negotiates New Restaurant Lease in Altamonte Springs, FL for New Mom’s Kitchen

Mitch Heidrich

 ORLANDO, FlL– NAI Realvest recently negotiated a new lease agreement for 1,727 square feet of restaurant/retail space in Suite 1018 at the GFS Marketplace located at 1140 E. Altamonte Drive in Altamonte Springs where a new Mom’s Kitchen will open in March. 

The NAI Realvest retail team of Kevin O’Connor, Matt Cichocki and Mitch Heidrich brokered the transaction representing the Orlando-based landlord, U.S. Bank National Association.

Kevin O'Connor

The space leased was previously occupied by Athena Café and the new tenant Maria Chauca d/b/a Mom’s Kitchen intends to relocate the restaurant from their Casselberry location.

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

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142 Lvershelco@alol.com

2013 Marks Strongest Leasing Year for IDI Since 2000

Tim Gunter

ATLANTA, GA (Jan. 28, 2014) – IDI, a leading full-service industrial real estate company based in Atlanta, announced today that 2013 was the company’s strongest leasing year since 2000.

The year saw 15,374,113 total square feet in leases, a portfolio increase from 84 to 187 buildings, 6,623,434 square feet in development starts and seven buildings receiving LEED certification.

The news comes on the heels of IDI’s acquisition by Brookfield Property Partners and merger with Verde Realty.

“The success of 2013 is truly a testament to the hard work of our team members,” said Tim Gunter, IDI’s President and Chief Executive Officer. “While last year was historic, I am excited about what our future has in store.

“Our new ownership provides us the opportunity to further expand our presence, while strengthening our asset base and balance sheet.” 

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

Matt Scofield

JACKSON | SPALDING for IDI

P 404-214-3554

E mscofield@jacksonspalding.com

www.idi.com

Marcus & Millichap Capital Corp. Arranges Financing for $13.4 Million Multifamily Property Sale in Springfield, IL

Orchard Park Apartments, Springfield, IL

Richard Lynn

SPRINGFIELD, IL Jan. 27, 2014 – Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate financing and capital markets expertise, arranged 10-year, fixed-rate financing for the acquisition of two multifamily properties in Springfield, Ill.

            Rick Lynn, a director in MMCC’s Chicago Oak Brook office, secured the loan.

            “The borrower was in a 1031 exchange, making this a time-sensitive transaction,” says Lynn. “The process took just five weeks and illustrates our ability to source capital for assets in other than primary markets.”

Alex Blagojevich

            James Walsh, senior vice president investments in Marcus & Millichap’s Chicago Downtown office, represented the seller, the property’s developer.

David Gaines, vice president investments, also in the firm’s Chicago Downtown office, and Alex Blagojevich, vice president investments in the firm’s Tampa office, led the national marketing campaign. The Chicago-area buyer is a private investor representing his family investment trust.

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

Gina Relva

Public Relations Manager

Marcus & Millichap Capital Corporation

(925) 953-1716

Distinguished ICSC CDP Designation Received by Gary M. Ralston, Managing Partner of CBC Saunders Ralston Dantzler Realty

Gary M. Ralston

LAKELAND, FL – Gary Ralston, CCIM, managing partner of Coldwell Banker Commercial Saunders Ralston Dantzler Realty, LLC in Lakeland, recently received the ICSC Certified Development, Design, and Construction Professional (CDP) designation.

The ICSC (International Council of Shopping Centers, Inc.) certification programs focus on raising the industry’s professional standards globally. 

There are 6,000 ICSC designees in 55 countries – representing fewer than 10% of the commercial real estate professionals in the shopping center industry. Of this elite group, only 500 designees have achieved CDP status.

Michael P. Kercheval, President and CEO of ICSC said of Ralston, “A mark of excellence, ICSC certifications give special recognition to shopping center professionals like you who demonstrate the highest levels of competency in their specialty as proven through solid professional education, experience, ethics and passing a rigorous examination.

“You have a proven record of accomplishment, experience, and success and are now counted among the most professional of your peers.”

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

brigid@srdcommercial.com

HFF arranges sale of $31.6 million loan secured by Southfield, MI multi-housing properties

Wickliffe Kirby

DALLAS, TX – HFF announced today that it has arranged the sale of a senior mortgage loan secured by three multifamily properties located in Southfield and Oak Park, Michigan. 

Providence Green, Providence Tower and Providence Place contain a total of 1,312 units built between 1965 and 1968. 

HFF marketed the $31.6 million loan on behalf of a major financial institution. 

The loan was originated by the lender in 2006 to fund the acquisition of the three collateral properties and an additional property that was later sold by the borrower. 

The loan had an original funding balance of $41.3 million before it was later reduced from the sale of the fourth property.  The loan is set to mature in May 2014.

William O'Donnell

As of August 2013, Providence Green (723 units), Providence Tower (242 units) and Providence Place (347 units) had a combined occupancy of 65 percent.  The properties are located near the intersection of West 9 Mile Road and Greenfield Road approximately 10 miles northeast of the Detroit CBD.

               The HFF team representing the seller was led by managing director Daniel O’Donnell and associate director Wickliffe Kirby.

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

HFF arranges $5.4 million financing for single-tenant industrial facility in Carteret, NJ

700 Blaire Road, Carteret, NJ

Jon Mikula

FLORHAM PARK, NJ – HFF announced today that it has arranged $5.4 million in financing for 700 Blair Road, a 234,325-square-foot, single-tenant, light industrial building in Carteret, New Jersey.

HFF worked on behalf of the borrower, The Hampshire Companies, to secure the seven-year, fixed-rate financing through Nationwide Real Estate Investments.  HFF previously sold the property to The Hampshire Companies in August 2013.

700 Blair Road is fully leased to, and functions as the corporate headquarters for Berjé Inc., a global leader and distributor of essential oils and aromatic chemicals with more than 60 years of experience supplying the flavor, fragrance, pharmaceutical and allied trades.

 The recently renovated property is situated on 12.41 acres close to Interstate 95/NJ Turnpike, Newark Liberty International Airport and Port Elizabeth/Newark.

The HFF team representing the borrower was led by senior managing director Jon Mikula and director Michael Klein.

Michael Klein

“The property’s recent upgrades, proximity to an extensive transportation infrastructure, and long term lease made this an attractive deal for Nationwide,” said Klein.  “As a result HFF was able to secure a very attractive rate and full-term, interest-only loan that best met Hampshire’s needs.”

The Hampshire Companies is a full-service, private real estate firm with equity in assets valued at more than $2.5 billion, based in Morristown, New Jersey.

 The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments.

  

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

www.hampshireco.com.