Florida State University Names Recipients of 2014-2015 Crossman & Company Endowed Scholarship

Christina Cernkovic

ORLANDO, FL -- Florida State University Seniors, Christina Cernkovic and Danny Alvv recently received scholarships on behalf of Crossman & Company to support their deserving hard work and studies in the College of Business.  

Cernkovic is a double major in Finance and Real Estate with a minor in Hospitality Management. She is also the Secretary of the Real Estate Society, Vice President of Women in Real Estate, and Vice President of her Sorority, Phi Mu. After graduation this spring, she hopes to work in the site selection sector of commercial real estate in a tier one market.

John Crossman

“I am very thankful for this scholarship from Crossman & Company. It has helped me tremendously this year in all my educational endeavors and after graduation I hope I can give back to Florida State like Crossman & Company does every year,” added Cernkovic.

 In being awarded the Crossman & Company Scholarship, Alvv said, “I am very humbled and honored to be a recipient of the Crossman & Company Scholarship.

" It is always a great feeling to be recognized and rewarded for your accomplishments and work in a field I am passionate about.” 

Alvv is also majoring in Real Estate, which is not only a passion of his, but also one of his family’s. One of his brothers is a real estate attorney, while the other is a property appraiser.  

In addition, Alvv’s father owns a development company, which Alvv states has paved the way for him to get his real estate license and pursue his career in the commercial real estate industry.

“One of the best ways to improve the real estate market is to encourage the participation from the best of the next generation,” said John Crossman, President of Crossman & Company. “At Crossman & Company, we take that responsibility very seriously, and we impact education like no other firm in the United States.”

Crossman & Company plans to endow many more scholarships at Colleges & Universities throughout the Southeast.  

It is also of note, that the commercial real estate firm is currently breaking barriers by leading the way in establishing Real Estate Programs at Historic Black Colleges & Universities (HBCU).

Through this ground-breaking initiative, Crossman & Company will have established a Real Estate Program for at least three HBCU’s by the end of 2015, forever impacting the Real Estate industry.

To learn more about Crossman & Company and their influence on the industry, education and the community, visit: www.crossmanco.com

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

Claire Pagán

Director of Marketing

Crossman & Company

 cpagan@crossmanco.com

 407.581.6223

Crossman & Company’s Tyler Wilkins Inks Deal at Cornerstone at Lake Hart in Orlando, FL

  

Tyler Wilkins

ORLANDO, FL – Tyler Wilkins of Crossman & Company, one of the largest Southeast providers of commercial real estate services co-brokered a new lease for 3,575 square feet at 10663 Narcoossee Road Orlando, FL 32832 with Robert J. Molinari of Compass Realty.

The landlord of Cornerstone at Lake Hart leased the space to Giovanni’s Italian Restaurant & Pizzeria. This is the franchise’s fourth location to open in Central Florida.

“With another retailer brought to this area, it’s a good sign that the market continues to strengthen,” noted Crossman & Company President, John Crossman.

Anchored by Publix Super Markets and minutes from the Lake Nona Medical City, Cornerstone at Lake Hart has a great mix of local and national tenants with extremely limited leasing space available.

  For more information on leasing at Cornerstone at Lake Hart, please contact Tyler Wilkins, 407-581-6245, twilkins@crossmanco.com

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

Claire Pagán

Director of Marketing

Crossman & Company

 cpagan@crossmanco.com

 407.581.6223

HFF closes $54.3 million sale of Velocity in the Gulch in Nashville, TN

Megan Thompson

ATLANTA, GA – HFF announced it closed the sale of Velocity in the Gulch, a 238-unit, luxury urban mid-rise multi-housing community in Nashville’s Gulch neighborhood.

HFF closed the transaction on behalf of the seller, a joint venture between a predecessor company run by David Levin and a Chicago-based fund manager.  

Nicol Investment Company purchased the asset for $54.3 million. 

Velocity in the Gulch is located at the corner of 320 11th Avenue South and Pine Street, the most sought-after corner in Nashville’s Gulch neighborhood. 

This neighborhood is the Southeast’s first LEED Silver neighborhood and the primary commercial corridor for one of America’s fastest-growing cities. 

Completed in 2009 as a condominium and subsequently converted to for-lease multi-housing, the property features 18 different floor plans with market-leading condominium appointments.  

Jason Nettles

Community amenities include a sky lounge with outdoor fireplace, state-of-the-art fitness center, European-style courtyard with fountain and fire pit, spacious clubroom with coffee bar, and bicycle racks.

The HFF investment sales team representing the seller was led by senior managing director Jason Nettles and director Megan Thompson.

“This transaction represents the acquisition of a well-performing, stabilized asset that merges urban infill design and millennial appeal,” said Nettles.

“Velocity is poised to benefit tremendously from more than $500 million in ongoing and future investment in the Gulch neighborhood, including nearly 500,000 square feet of Class A office space, a 224-room Thompson boutique luxury hotel and the Sobro-Gulch Pedestrian Bridge. 

“With this acquisition, Nicol Investment Company is positioned to capitalize on this tremendous growth and demonstrated success of the Gulch neighborhood and Nashville.”

Velocity in the Gulch, Gulch Neighborhood, Nashville, TN

David Levin, formerly of Levin Realty Advisors, and partner Marc Swerdlow recently launched Magellan Investment Partners LLC in partnership with Magellan Development Group out of Chicago.  

The entity is an acquirer and value-add specialist within the multifamily rental industry focusing on asset purchases in Nashville, Chicago, Minneapolis, South and Central Florida, Denver and Texas.

                Nicol Investment Company is privately owned and based in Nashville.

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

Olivia Hennessey

Public Relations Coordinator

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

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF closes sale of and arranges acquisition financing for Class A office and medical office campus in San Diego’s University Town Center

       Genesee Place, University Town Center, 9333 and 9339 Genesee Avenue, San Diego, CA

                                            

Kara Mathis

SAN DIEGO, CA – HFF announced it has closed the sale of and arranged acquisition financing for Genesee Plaza, a 161,184-square-foot, multi-tenant office and medical office campus located in San Diego’s “strongest institutional submarket”, University Town Center. 

HFF marketed the property on behalf of the seller, DivcoWest.  Polidev Investments, Inc. purchased the complex and was assisted by HFF in securing acquisition financing.

               Genesee Plaza, which was recently renovated in 2012, consists of two four-story buildings (including the plaza level) and a two-level, 577-space subterranean parking garage.  

The property is 92.6 percent leased and situated on 3.63 acres at 9333 and 9339 Genesee Avenue at the corner of Executive Drive and Genesee Avenue in the heart of the University Town Center submarket.

Nick Psyllos

 The property is close to Westfield UTC Mall, the University of California – San Diego Thornton and Scripps Memorial Hospitals.  Genesee Plaza also has easy access to San Diego’s major freeways including Interstate 5 and 805.

               The HFF investment sales team representing the seller was led by senior managing directors Nick Psyllos, Ryan Gallagher and Michael Leggett, director Nick Frasco, and senior real estate analyst Kara Mathis.

               The HFF debt placement team representing the buyer was led by director Jordan Angel and senior managing director Aldon Cole.

               “University Town Center is San Diego County’s premier location for medical facilities, research and ancillary medical office uses,” said Psyllos.  “Between 2013 and 2016, an estimated $1.9 billion in medical facilities will have been developed in UTC.”

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 expands national healthcare practice with addition of managing director Evan Kovac

Evan Kovac

SAN DIEGO, CA – HFF announced Evan Kovac has joined the firm as a managing director in its San Diego office.

  Mr. Kovac will be a member of HFF’s national healthcare practice and will focus on medical office building and healthcare capital markets and investment sale transactions throughout the United States.

               Mr. Kovac joins HFF from Newmark Grubb Knight Frank (NGKF) where he was a managing director and member of NGKF’s Capital Markets Medical Office Group since 2012. 

While at NGKF, he worked on behalf of private equity, pension fund advisors, sovereign wealth funds, developers, physicians, hospitals, health systems and public and private REITs.  

Mr. Kovac began his career at Marcus & Millichap in 2005 with a focus on medical office investment sales.

 He graduated from the University of California, Santa Barbara with a bachelor’s degree in Philosophy and Economics.  Mr. Kovac is a mentor in the Big Brother & Big Sisters program of San Diego.

               “Evan will work alongside Michael Bennett, Jack Dudick, and  Phil Mahler, as well as the entire HFF healthcare team to put the ‘best team on the field’ for every healthcare and medical office building transaction,” said John Pelusi, executive managing director and head of HFF’s national healthcare practice.

John H. Pelusi Jr.

 “HFF has been fortunate to have grown our healthcare practice with highly respected and successful individuals such as Evan and we look forward to the value he will bring to our clients as well as our national healthcare platform.”

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 $6.856 million refinancing for Class A Denver-area neighborhood retail center

Bradburn Village Retail Center,
11940, 11961 and 11973 Bradburn Boulevard and 4147 Main Street along 120th Avenue,
Westminister, CO

Eric Tupler

DENVER, CO – HFF announced it has arranged a $6.856 million refinancing for Bradburn Village Retail Center, a 34,480-square-foot, Class A, neighborhood retail center in the Denver suburb of Westminster, Colorado. 

               Working on behalf of Continuum Partners, HFF placed the five-year, 73 percent LTV, 4.15 percent fixed-rate loan with a national CMBS lender.  Loan proceeds were used to refinance the existing loan.

               The four-building Bradburn Village Retail Center is situated on 3.88 acres at 11940, 11961 and 11973 Bradburn Boulevard and 4147 Main Street along 120th Avenue, a major artery providing direct access to Interstate 25 and U.S. 36 in Westminster, a northern Denver suburb approximately nine miles from downtown Denver. 

 The center is located in the Bradburn Village neighborhood, which is a mixed-use master planned community developed by the borrower including single family homes, multi-housing, offices and retail. 

Leon McBroom

Completed by the borrower in 2004, the 100-percent-leased retail center is home to Bikram Yoga of Colorado, T-Mobile, Pure Barre, Bradburn Village Dental, Ted’s Montana Grill, Zen Asian Bistro & Sushi, Appearances Hair Color & Design Studio and the Goddard School.  

The retail center is shadow anchored by a recently-opened Whole Foods Market, also built and owned by the borrower, but not included in the refinancing.

               The HFF team representing the borrower was led by senior managing director Eric Tupler and real estate analyst Leon McBroom. 

“Bradburn Village has been a very successful development for us,” said Mark Falcone, Founder and CEO of Continuum Partners.  “We are pleased that the financial markets have responded so favorable to the sustainable urban developments that Continuum has built through the years and will build for years to come.”

Mark G. Falcone

Continuum Partners was established in Denver, Colorado, in 1997 with a deliberate mission: to create sustainable human habitats of extraordinary character and enduring value.  

Individuals with a broad base of experience were recruited from around the country to form a development company dedicated to demonstrating that smart growth can actually lead to more profit.

  In the brief period of time since its inception, Continuum

Partners has established itself as a leader nationally of mixed-use, large-scale projects.  Learn more at www.continuumpartners.com.

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 $118 million financing for Georgetown’s K2 high-rise residential tower in Chicago’s West Loop

K2, 34-story Class A residential tower, West Loop, Chicago, IL

Dan Kaufman

CHICAGO, IL – HFF announced it has arranged $118 million in financing for K2, a 34-story, 496-unit, Class A residential tower in Chicago’s West Loop that was recently acquired by The Georgetown Co., a leading developer and owner of properties nationwide.

                HFF worked on behalf of Georgetown to secure the 10-year, fixed-rate loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.  The securitized loans will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.

                K2 is located at 365 North Halsted Street in Chicago’s West Loop submarket immediately adjacent to Jewel-Osco’s flagship grocery store in downtown Chicago. 

The transit-oriented property also provides nearby access to the Ogilvie Transportation Center, Interstates 90/94, 290 and 55 and several CTA stations. 

MikeKavanau

Completed in 2013, the LEED Silver property features one-, two- and three-bedroom units averaging 779 square feet each.  The property, which reflects the very best in Chicago with respect to amenities and design, features a 10,000-square-foot outdoor deck and pool area including a 70-foot lap pool, hot tub, cabanas and fire pit. 

Other amenities include a state-of-the-art fitness facility, yoga studio, basketball court, lounge, party room, theater room and business center/boardroom.  The property is 96 percent leased.  Georgetown intends to make various improvements to the property including upgrades to public spaces and improved amenities.

“The West Loop is one of Chicago’s fastest growing residential, entertainment and employment centers.  The opportunity to participate in the growth and energy in the West Loop and Fulton Market districts attracted us to this property,” said Adam Flatto, CEO of The Georgetown Co. 

Steve Skok

“HFF has been a valuable partner in this process and we’re very pleased with the work they have done on our behalf.”

The HFF debt placement team representing the borrower was led by managing director Danny Kaufman, senior managing director Mike Kavanau and managing director Steve Skok. 

“HFF originally arranged the construction financing for K2 on behalf of Steve Fifield’s (of the Fifield Companies) development team.   K2 is a wonderful project and the West Loop location has outperformed any of our expectations. 

"  We are thrilled to be a part of The Georgetown Company’s acquisition of K2.  The Georgetown team brings world class real estate experience and will certainly improve this institutional quality project,” said Kaufman.

Adam Flatto

The Georgetown Co. is a privately-held diversified real estate development company founded by Marshall Rose in 1978 and headquartered in New York City. 

Georgetown and its principals have developed, owned and overseen more than 20-million square feet of office, residential, retail, and mixed-use properties throughout the United States. Georgetown currently owns and is developing properties in New York City, Los Angeles, Chicago, Columbus, OH, Boston and Washington DC.

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

Olivia Hennessey

Public Relations Coordinator

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

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF closes $120 million sale of The Crest at Fort Lee in Fort Lee, NJ

The Crest at Fort Lee Apartments, Fort Lee, NJ

Jose Cruz

FLORHAM PARK, NJ – HFF announced it has closed the $120 million sale of The Crest at Fort Lee, a 351-unit multi-housing community in Fort Lee, New Jersey.

HFF marketed the property on behalf of the seller, Capri Capital Partners, LLC.  Pantzer Properties purchased the asset for $120 million, or approximately $341,880 per unit, free and clear of any existing debt.

The Crest at Fort Lee is situated on 13.09 acres at 900 Crest Lane in eastern Bergen County and is minutes from the New Jersey Turnpike/George Washington Bridge as well as nearby shopping and dining. 

The gated property, built in 1999, is 96 percent leased and has a mixture of one-, two- and three-bedroom floor plans averaging 1,058 square feet each.  

The property consists of seven residential buildings that include garage parking, tenant storage, balconies and some renovated units.

Kevin O'Hearn

 Community amenities include a clubhouse with heated outdoor swimming pool, state-of-the-art fitness center, indoor basketball court, community room and business center.  The property also has a playground and grilling area.

The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn, associate director Steve Simonelli and was supported by senior managing director Andrew Scandalios.

Hyland Levin LLP served as legal counsel for the buyer and Krawnow Saunders, Kaplan & Beninati LLP represented the seller.

“The buyer has an opportunity to add value to the property in a market that is seeing new development and higher rents,” stated Cruz.

Steve Simonelli

Capri Capital Partners, LLC is an SEC registered institutional real estate investment advisory firm, which has acquired or originated over $10 billion in commercial real estate investments since its founding in 1992.  

Capri offers a broad spectrum of real estate equity and debt products to its clients through separate account, commingled fund, and joint venture formats. 

Over its 21 year history, Capri has demonstrated experience investing in multifamily residential and urban investments.  Diversified assets managed on behalf of its pension fund and other institutional investors totaled $3.886 billion under management as of September 30, 2014. 

 Capri is headquartered in Chicago, with additional offices in Los Angeles and the New York area.

 For more information, visit the company’s website: www.capricapital.com.

Andrew Scandalios

Pantzer Properties, Inc. was founded in 1971 as a vehicle for private investment in undervalued real estate.  With approximately $2 billion in assets under management, the firm is the sponsor of the Panco Strategic Real Estate Funds, a series of opportunistic real estate funds focused on the multifamily sector.  

Headquartered in New York City with offices in Rochelle Park, New Jersey and Herndon, Virginia, the firm is a fully integrated owner/operator of institutional quality properties on the east coast of the United States.

 Since its inception, Pantzer Properties has been involved in more than $5 billion of real estate transactions. www.pantzerproperties.com

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

Olivia Hennessey

Public Relations Coordinator

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

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

BB&T Headquarters in Winston-Salem, NC Acquired for $60 Million

Tyson 'Ty' Rhame

Atlanta, GA, Dec. 23, 2014 -- Two investors have acquired the BB&T headquarters building in Winston-Salem N.C. in a $60 million acquisition.

 Charlotte, N.C. investor Ray Gee and Atlanta investor Tyson “Ty” Rhame partnered to acquire the 240,000 square foot, 20-story office tower as a long-term hold. BB&T Bank (Branch Banking & Trust), one of the largest financial services holding companies in the U.S., occupies the building under a long-term triple net lease.

Gvest Capital and Trinvest were the investment vehicles for Gee and Rhame, respectively. Inland Private Capital was the seller. The transaction closed Dec. 19.

At $250 a square foot, it is the highest per-square-foot price ever paid for a Winston-Salem office property. The property is expected to produce an annual return of about 7.25% before debt but after expenses.

Gee and Rhame acquired the asset under a leveraged transaction using a Delaware statutory trust structure. The buyers are selling stakes in the building to investors seeking a 1031 exchange transaction, which lets investors delay capital gains taxes on proceeds from recently-sold property by reinvesting in new property.

Raymond M. Gee

The building was attractive to the buyers because it is occupied through a 23-year lease signed with BB&T, a S&P creditworthy A-rated tenant. The new owners stated this is the last time the property will be sold.

“It is a generational investment for my family office,” Rhame said. “Being part of BB&T and Winston-Salem is a winning combination.”

“The long-term credit lease of BB&T in an attractive capital market provided the opportunity to create an investment product attractive to zero-cash-flow buyers with a low basis in the 1031 exchange market,” Gee added.

Based in Winston-Salem, N.C., BB&T operates 1,842 financial centers in 12 states and Washington, D.C.

Gvest Capital, LLC, (http://gvestcapital.com) is a closely-held investment partnership that focuses on the acquisition, development and asset management of commercial, multifamily and single-family residential real estate assets. 

Based in Charlotte, N.C., its leadership includes experienced veterans of the real estate and financial world.

Trinvest is the real estate arm of Atlanta investor, philanthropist and environmentalist Ty Rhame’s many enterprises.

 Rhame owns, or co-owns, a number of firms in a variety of industries including recycling, currency exchange, apparel, and many others. 

Recently appointed to the board of the U.S. Air Force Academy Endowment, he gives back to the community through his businesses, personally, and as president of the Rhame Family Foundation.

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

Terri Thornton, Terri@TerriThornton.com, 404-932-4347 

Wyndham Hotel Group Signs Deal for Seven Properties in Peru

PARSIPPANY, NJ – Wyndham Hotel Group, the world’s largest hotel company with approximately 7,590 hotels and part of Wyndham Worldwide Corporation (NYSE: WYN),announced the signing of a franchise agreement with local partner Costa del Sol to open 1,000 rooms across seven Wyndham Hotels and Resorts® branded properties that will open within the next year in key destinations across Peru.

The agreement includes the conversion of six properties, located in Tumbes, Chiclayo, Lima Airport, Trujillo, Cajamarca and Piura, to the Wyndham Hotels and Resorts brand, as well as the construction of a new 144-room property in Lima.

“Peru’s economy and tourism industry has been growing steadily in recent years, creating more demand for hotels and offering an ideal setting for our brands to expand,” said Paulo Pena, president and managing director of Latin America and the Caribbean for Wyndham Hotel Group. 

“This deal with Costa del Sol represents our commitment to continue to grow our portfolio in key markets throughout Latin America to benefit our solid base of loyal guests who recognize the value of our global hotel brands.”

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

Paula Carreiro

Wyndham Hotel Group

22 Sylvan Way

Parsippany, NJ 07054

(973) 753-7927

paula.carreiro@wyn.com

Resolve Maritime Academy Expanding in Fort Lauderdale, FL

  

Judy Dolan

 FORT LAUDERDALE, FL -- Berger Commercial Realty, a regional, full service commercial real estate firm, announced that Resolve Maritime Academy has expanded its space at Harbor Place, a 36,000-square-foot office building situated in the heart of Fort Lauderdale's marine district at 1600 S.E. 17th St.

Resolve Maritime Academy extended its existing lease and signed a new lease for an additional 7,134 square-feet of extra space. 

  Berger Commercial Realty brokers Judy Dolan and St. George Guardabassi represented Resolve Maritime Academy. Broker Keith Graves, also of Berger Commercial Realty, represented Harbor Place.

The four-story Harbor Place building features free covered parking, an onsite bank with ATM, and FedEx and UPS drop-boxes. Resolve Maritime Academy plans to use the additional space for its growing training academy.

St. George Guardabassi

Resolve Maritime Academy is a subsidiary of Resolve Marine Group, which recently purchased an 11,709-square-foot office building at 1550 S.E. 17th St. in Fort Lauderdale from Ardell Marina, Inc.

Dolan represented Resolve Marine Group in the purchase and Guardabassi and Graves represented the seller.

Headquartered in Fort Lauderdale, Resolve Marine Group is a leading marine services organization that provides salvage, emergency response, training, naval architecture, marine engineering and many other services to the global maritime industry.

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

Marielle Sologuren

Pierson Grant Public Relations

msologuren@piersongrant.com

954-776-1999, ext. 226

Waterton Purchases Martha Lake Apartments in North Suburban Seattle, WA

  

Peter Kuzma

 CHICAGO, IL  – Waterton Associates LLC, a U.S. real estate investor and operator, is pleased to announce its re-entry into the Seattle market with the acquisition of Martha Lake Apartments, a 155-unit garden-style apartment community in north suburban Lynnwood.

Located approximately 15 miles north of downtown Seattle, Martha Lake Apartments offers a mix of one-, two- and three-bedroom residences and a variety of on-site amenities, including an outdoor swimming pool, spa and racquetball court, as well as a resident-only fitness center and lounge.

 It is the sixth property acquired by Waterton in 2014 and the first community Waterton has owned in the Seattle area since 2004.

“Seattle has been and will continue to be a target market for Waterton because of its strong demand drivers and high barriers to entry,” said Peter Kuzma, assistant vice president, acquisitions, at Waterton Associates. 

“Development has been concentrated in the urban core, which has created an opportunity to implement value-add programs in older, well-located suburban communities like Martha Lake where we’re able to achieve strong rent premiums.

  

For leasing information, call (866) 545-7074 or visit www.marthalakeapts.com.

  

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

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

Ackerman & Co. & The Meddin Company Arrange Sale of Glenwood Park Retail in Atlanta, GA for $11million to Coro Realty

Shea Meddin

Atlanta, GA – Ackerman & Co., in partnership with The Meddin Company, announced it has brokered the sale of Glenwood Park Retail, a seven-building, 48,515-square-foot retail community located in one of Atlanta’s most recognized mixed use developments, to Coro Realty Advisors, LLC for $11 million. 

At the time of sale, the properties were more than 83 percent occupied by an impressive lineup of credit-rated tenants including popular Atlanta restaurants Gunshow, Vickery’s and The Shed.

Ackerman & Co.'s Shea Meddin and Stuart Meddin of The Meddin Company brokered the sale on behalf of the Seller, Glenwood Park Builder LLC.

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

Fara Wilson

Vice President, Marketing

P: 770.913.3904    C: 678.358.2060    F: 770.913.3965

Mortgage Bankers Association Announces Five Year-End Promotions

  

Annie Gawkowski

 WASHINGTON, DC – Today, David H. Stevens, President and CEO of the Mortgage Bankers Association (MBA), announced the promotion of five MBA staff.  The promotions will be effective January 1, 2015.

Joel Kan, Associate Vice President of Industry Surveys and Forecasts

Having joined MBA in 2006, Mr. Kan is responsible for managing the production of MBA’s macroeconomic and housing market forecasts. 

  He also oversees the production of MBA’s industry surveys, including the Weekly Mortgage Applications Survey, the National Delinquency Survey, Builder Applications Survey, and Mortgage Credit Availability Index, four of the association’s most high profile reports.

David H. Stevens

  Mr. Kan writes monthly commentaries regarding economic statistics and industry data.   Prior to his promotion, he was Director of Economic Forecasting.  He holds a BS in Economics and Statistics from the University of Michigan, Ann Arbor.

Other promotions:

Annie Gawkowski, Associate Director of Political Affairs

Chaya Zahn, Associate Director of Registration

Annie Jacobs, Business Solutions Support Specialist

William Hackney, Senior Helpdesk Technician

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

Shawn Ryan

sryan@mba.org

(202) 557-2727

 www.mba.org.

PM Hospitality Strategies, Inc. Announces Management Contract for The DoubleTree by Hilton DFW Airport North in Irving, TX

      

Doubletree by Hilton DFW Airport North, Irving, TX

 WASHINGTON, DC —Officials of PM Hospitality Strategies, Inc. (PMHS), a leading, national hotel management company, announced it signed a management agreement to operate the 282-room DoubleTree by Hilton DFW Airport North on behalf of The Buccini/Pollin Group, a privately held, full-service real estate acquisition, development and management company.  The addition of the DoubleTree hotel brings PMHS’ portfolio of managed hotels to approximately thirty hotels, including five new assignments in 2014 and development projects.

Joseph Bojanowski

“This hotel, our sixth west of the Mississippi River, marks our first entry into the Dallas/Fort Worth market and furthers our effort to expand our presence in the Western United States,” said Joseph Bojanowski, president of PMHS. 

  “As this is our 15th Hilton flagged hotel, we expect that it will immediately benefit from our deep familiarity with Hilton Worldwide and its numerous brands.”

Situated in Irving, Texas less than two miles from DFW Airport, the eight-story hotel is convenient to such companies as Allstate, Siemens, Verizon, AT&T, IMB and Microsoft.  

The DoubleTree by Hilton hotel features approximately 17,000 square feet of function space, outdoor pool, 24-hour fitness center, full-service business center and continual airport shuttle service. 

Guest rooms are equipped with 250 thread-count sheets and bedding, plush mattresses, ergonomic desk chairs, in-room movie channel and 32-inch LCD HDTV.  Dining options include the Flatland Grille & Bar, featuring contemporary Texas cuisine, and Starbucks Café.

"The Dallas/Fort Worth metropolitan area is continuing to grow thanks to an airport that is easily accessible and the numerous business headquartered there," Bojanowski continued. "Unemployment is lower and wage growth is higher than the national average, setting the stage for accelerating business metrics in the coming year.  We're very optimistic about this hotel and this market."

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

Chris Daly media

 (703) 435-6293

 chris@dalygray.com