Essex Realty Group Brokers the Sale of 7038 S. Chappel Ave. in Chicago, IL

  

7038 Chappel Avenue Apartments, South Shore Neighborhood, Chicago, IL

  

Douglas Imber

CHICAGO, IL --  Essex Realty Group, Inc. is pleased to announce the sale of 7038 S. Chappel Ave. in Chicago, Illinois.

7038 S. Chappel Ave. is an attractive 25 unit courtyard building located in Chicago’s South Shore neighborhood. This property is situated just one half-block from the intersection of the 71st Street commercial corridor and Jeffery Boulevard, with immediate access to a Metra Station, CTA stops, and a Walgreens.

The sale price was approximately $690,000.

Doug Imber and Bob O’Connell represented the seller and Jordan Gottlieb represented the buyer in the transaction.

Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

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

Douglas Fisher

Essex Realty Group, Inc.

773.305.4910

dougfisher@essexrealtygroup.com

www.essexrealtygroup.com

Essex Realty Group Brokers Sale of Six-Unit Multi-Family Building in Chicago, IL

  

7002--7016 West Medill, Montclare Neighborhood, Northwest Chicago, IL

  

Jordan Gottlieb

 CHICAGO, IL - Essex Realty Group, Inc. is pleased to announce the sale of 7002-16 W. Medill.

The townhomes of Medill Row are six newer construction 3 bedroom, 2.5 bath townhome units located in an 8-row house style property located in Chicago’s Montclare neighborhood on the city’s northwest side.

The property was finished in 2008. Two of the eight units were sold in October of 2008 for $379,000 each.

The sale price was approximately $1,329,000.

Jim Darrow and Jordan Gottlieb were the brokers on the transaction.

Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

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

Douglas Fisher

Essex Realty Group, Inc.

773.305.4910

dougfisher@essexrealtygroup.com

www.essexrealtygroup.com

HFF closes $152 million sale of Class A office building in Boston’s Back Bay

  

116 Huntington Avenue, Back Bay submarket, Boston, MA

Coleman Benedict

BOSTON, MA – HFF announced it has closed the $152 million sale of 116 Huntington Avenue, a trophy, 274,218-square-foot office located in Boston’s Back Bay submarket.

                HFF marketed the property for the seller, Broadway Partners, and procured the buyer, Columbia Property Trust.  Soundport Capital LLC acted as an advisor to the seller. 

Originally constructed in 1991 and continually renovated and upgraded throughout time, 116 Huntington is a boutique office building that draws on the various demand sectors in Boston’s highest renting submarket. 

 In addition to the on-site amenities, the building is within walking distance to the Shops at the Prudential, Copley Place and the MBTA’s Back Bay Station, which provides access to subway, bus, commuter rail and Amtrak services.  

Rising to a height of 15 stories, the building offers unmatched views of the Back Bay, Seaport, South End and the Charles River. 

Ben Sayles

                The HFF investment sales team representing the seller was led by senior managing director Coleman Benedict, director Ben Sayles and real estate analyst Patrick McAneny.

“Back Bay is one of the tightest markets in the country,” Benedict said.  “Given the concentrated, institutional ownership in the area, the opportunity to acquire such a trophy rarely comes along.  Columbia is going to do very well with this asset.”

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

$8.21 million sale of pink plaza shopping center in key largo, fl arranged by marcus & Millichap

   

Pink Plaza Shopping Center, 103400 Overseas Highway, Key Largo, FL

  

Jonathan Gerszberg

 KEY LARGO, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Pink Plaza Shopping Center, a 57,773-square foot retail property located in Key Largo, Fla.

The asset sold for $8,212,500 representing $142 per square feet and a 7.75 percent CAP rate.

Jonathan Gerszberg, a senior associate in Marcus & Millichap’s Miami office, represented the seller, a limited liability company from Iowa, and the buyer, a limited liability company from Florida.

“The Florida Keys are a unique market, significantly different than Miami, despite being so close. 

" The Pink Plaza is one of the rare trophy retail properties in the Keys, representing a unique asset to headline any investment portfolio.  We had a ton of interest, with offers from investors around the globe,” says Gerszberg.

Built in 1986, Pink Plaza Shopping Center is a 57,773-square foot, two-story shopping center which covers 2.87 acres in Key Largo, Fla. 

Key Largo, FL

Anchored by one of the top producing West Marines in Florida, the Pink Plaza, has some 50 tenants, spanning the full spectrum of business: restaurants, service oriented vendors, hard goods, soft goods, government, medical, and even executive offices.

 “The property is impeccably maintained and represents a true pride of ownership asset.

" The seller had done an amazing job managing the property, maintaining a greater than 90 percent occupancy over the last 10 years,” Jon continues.  “The buyer is looking forward owning this once-in-a-lifetime property.”

Pink Plaza Shopping Center is located at 103400 Overseas Highway in Key Largo, Fla.

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

 Kirk A. Felici

First Vice President/Regional Manager

 Miami, FL

(786) 522-7000

$4.2 Million Sale of St. Cloud, FL CVX Pharmacy Arranged by Marcus & Millichap

Lori Schneider

 ST. CLOUD, FL  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of CVS, a 10,908-square foot net-leased property located in St. Cloud, Fla, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. 

The asset sold for $4,300,000 equating to $394 per square foot.

Lori Schneider, a senior vice president investments, in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Mount Pleasant, SC. 

“Because the current inventory of new credit net-leased properties is low, demand for existing properties with shorter lease terms is rising,” says Schneider who has sold more than 130 drug stores nationwide. 

Built in 1999, the 10,908 square foot CVS is located on a large 2.3 acre parcel and has a double drive-thru.  

The lease is guaranteed by Holiday CVS, LLC, a subsidiary of CVS that was created when CVS acquired the Florida Eckerd locations.

The property is located at 3555 13th St., at the signalized intersection of 13th Street (Highway 192) and Neptune Road. It is accessible from both roadways. 

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

 Ryan Nee

Regional Manager

Fort Lauderdale, FL

(954) 245-3400

Charles Dunn Co. Completes $6 Million Sale of 16-Unit Multifamily Property in Santa Monica, CA

Kimberly Roberts Stepp

LOS ANGELES, CA – Kimberly Roberts Stepp, senior managing director with Charles Dunn Company, has completed the $6 million sale of a fully occupied 16-unit multifamily property at 1901 6th Street in Santa Monica, Calif.

Stepp, represented the seller, 1626 North Fuller, LLC. The buyer was Unison Investment Company and was represented by John Chu of New Life Properties, Inc. The closing cap rate was 3.7 percent.

Built in 1969 the property consists entirely of large, one-bedroom units that include recently renovated features including new windows, custom cabinetry, wood floors and new appliances. 

The property also offers controlled access, elevator, laundry room, and secure gated parking. The asset is situated just six blocks from the ocean and is a short walk to Santa Monica Pier and Main Street restaurants and shops.

“We marketed this property by featuring its prime, Santa Monica location, upside in bringing rents to market rates, and long-term appreciation of the asset,” said Stepp. “Multifamily investments in this very hot submarket will attract investors in 2015 as they continue to pay record prices which are compressing cap rates to all-time lows.”

1901 6th Street Apartments,  Santa Monica, CA

 Charles Dunn Company is one of the largest full-service regional real estate firms in the Western United States. 

Established in 1921 and headquartered in Los Angeles, the firm’s brokerage practice continues to be a market leader.

The firm also manages more than 21 million square feet of office, industrial, retail, residential and mixed-use properties for third party clients and provides construction management, architecture and design, general contracting and capital markets services.

 With more than 260 team members in nine offices, Charles Dunn Company’s reach extends far beyond its physical locations, as its experienced professionals leverage their market knowledge, relationships, and expertise to achieve and exceed client expectations. www.charlesdunn.com

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

Darcie Giacchetto

D.G. Communications, Inc.

949.278.6224

Stillwater Investment Group Acquires 34,500-Square-Foot Office Building in Ontario, CA

  

1801 East Holt, Ontario, CA                                            

John Drachman

IRVINE, CA --  Leveraging its experience in the greater Ontario market, Stillwater Investment Group, an Orange County-based real estate firm focused on pursuing opportunistic real estate investments, has announced acquisition of a value-add, two-story, 34,500-square-foot office building in the City of Ontario.

 Built in 2007, the property, located at 1801 E. Holt, is currently unoccupied. Stillwater plans to take advantage of limited new development and the diminishing blocks of space in the market for the 20,000-square-foot and up size range, noting that the acquisition timing is good based on a strong resurgence of office leasing and investment activity occurring in the region.

Stillwater purchased the property from Rialto Capital for $2.35 million. Phil Woodford, Senior Vice President with CBRE, represented both the buyer and seller. The firm plans to complete a number of interior improvements to the property in preparation to sell or lease.

“This property fits our acquisition strategy perfectly. I’ve had success in Ontario working on other properties and this asset provided the opportunity to begin building Stillwater’s portfolio. It’s indicative of the types of opportunistic, value-add properties that we are seeking to acquire as we move forward,” said John Drachman, President of Stillwater Investment Group. Drachman started Stillwater in 2014.

Phil Woodford

Drachman added that he has seen firsthand the recent gains in the recovering Ontario office market.

Woodford also cited that that with no new office product construction planned in the Inland Empire for a considerable amount of time, landlords will be able to take advantage of the decreasing availability of space.  

He also shared that the increased frequency of investment sales has added to the further stabilization of strong office corridors such as Ontario. 

“Near the close of 2014, we had a user acquire an entire six-story, 144,000-square-foot Ontario office building that had been vacant. That kind of tenant activity coupled with new investors such as Stillwater entering the market helps to create important momentum at just the right time in the cycle,” added Woodford.

The acquired property is located in Ontario’s primary business district, approximately one block from the Ontario Convention Center with immediate access to the 10 and 15 freeways and Ontario International Airport.

Drachman shared, “Stillwater Investment Group plans to acquire additional value-add real estate opportunities throughout Southern California. I believe that an improving economy along with improving fundamentals will provide many sources for future acquisitions.”

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

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

MG Properties Group Acquires Tuscany Ridge Apartments for Nearly $39 Million in Temecula, CA

Tuscany Ridge Apartments, Temecula, CA

Rob Singh

 Temecula, CA,  Jan. 16, 2015– MG Properties Group, a private San Diego-based real estate investor and operator, has announced the acquisition of the Tuscany Ridge Apartments in Temecula, California.

According to Rob Singh, MG Properties Group Chief Investment Officer “Due to its high quality modern design and construction, Tuscany Ridge is an ideal candidate for a value-add repositioning strategy. 

Given the opportunity for growth in the Inland Empire and its proximity to our existing portfolio, this is an excellent strategic fit for us.”

The property consists of 220 luxury apartments built in 1999. Units include nine-foot ceilings, full-sized washers and dryers, and a mix of well-designed 1, 2, and 3-bedroom floor plans.

 Tuscany Ridge is centrally located in Temecula and is within walking distance of restaurants, schools, retail, and major employers. 

The property is adjacent to the Sage Canyon Apartments, also owned by MG Properties Group. The company plans to invest over $3.3 million in capital improvements to the property, enhancing common area amenities, exteriors and landscaping, and renovating unit interiors.

Sage Canyon Apartments, Temecula, CA

 Tuscany Ridge Apartments was purchased for a total of $38,850,000 from an institutional investor. 

The acquisition was financed with a 10-year fixed-rate mortgage from Fannie Mae, arranged by Walker & Dunlop. 

Tuscany Ridge marks MG Properties Group’s fifth acquisition in 2014. The company also acquired California properties in Vallejo, Los Angeles, and Napa, and one property in Tempe, Arizona.  The five acquisitions totaled more than 1,000 units and nearly $150,000,000 in combined purchase price.  Washington, Oregon, Nevada, and Colorado are also target acquisition markets for the company. 

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

Lexi Astfalk or Jenn Quader

(949) 955-7940

Lastfalk@browermillercole.com

Griffin-American Healthcare REIT III Completes Property Acquisitions Totaling More Than $340 Million

Danny Prosky

IRVINE, CA (Jan. 16, 2015) – American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT III, Inc., announced today that the REIT recently completed the acquisition of 19 healthcare properties for an aggregate purchase price of approximately $340 million.

 The acquisitions were comprised of 17 medical office buildings, an acute care hospital and a senior housing facility.

“These latest acquisitions represent high-quality assets leased by very strong tenants and operators with whom we look forward to sharing mutually rewarding business partnerships,” said Danny Prosky, president, chief operating officer and one of the largest stockholders of the REIT. 

  “They also add tremendous diversification to our rapidly growing portfolio.”

Additionally, the REIT has announced that it has executed letters of intent and/or purchase and sale agreements to acquire 31 additional healthcare properties for an aggregate purchase price of approximately $530 million. These pending acquisitions are subject to customary closing conditions and the satisfaction of other requirements as detailed in the agreements.

Jeff Hanson

“We couldn’t be more pleased with the rate at which we’re achieving size and scale in an institutional-grade portfolio while continuing to demonstrate the discipline that our stockholders have grown to expect from us,” said Jeff Hanson, chairman, chief executive officer and one of the largest stockholders of the REIT. 

  “We began acquiring properties in June 2014 and are on the cusp of owning a portfolio valued at nearly $1.0 billion (based on aggregate acquisition price, including pending acquisitions).”

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

                                                                              Damon Elder   

(949) 270-9207

delder@ahinvestors.com

Cooper Carry-Designed Scott Building in DC Earns LEED Platinum Status

WASHINGTON, DC -- The Cooper Carry-designed Scott Building, situated on the Historic Armed Forces Retirement Home (AFRH) Campus in Washington, D.C., just recently achieved LEED Platinum status, making it the first LEED Platinum certified healthcare facility in the mid-Atlantic area (based on projects listed in the USGBC-LEED database).

This is a big deal for veterans in the D.C. area. Healthcare facilities rarely reach LEED Platinum certification because their daily operations generate such high amounts of energy, which makes it hard to qualify for LEED’s energy saving standards.

In collaboration with the U.S. General Services Administration (GSA), Cooper Carry retrofitted sustainable features to benefit the wellness of the veterans and reduce costs. Their design resulted in a 38 percent energy reduction relative to the baseline.

The Scott Building offers a multitude of uses for aging veterans and their families including 36 skilled care nursing rooms, 24 rooms for memory support, a commercial kitchen, dining room, health and wellness center, an artist colony and more.

Designing a building of this class to LEED Platinum standards sets the example for other healthcare facilities.

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

Liana Moran • The Wilbert Group

1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309

O: 404-748-1367    

www.thewilbertgroup.com

HFF arranges $13.5 million financing for Crowne Plaza Orlando-Downtown hotel in Orlando, FL

Crowne Plaza Orlando-Downtown, 304 West Colonial Drive, Orlando, FL

Michael Weinberg

ORLANDO, FL  – HFF announced it has secured a $13.5 million financing for the Crowne Plaza Orlando-Downtown, a 227-room hotel in downtown Orlando, Florida.

HFF worked exclusively on behalf of the borrower, Vista Group of Companies, to secure the loan.

                The asset currently includes 227 condominium hotel units, 50 of which are two-room suites. Renovated from 2010 to 2011, the 14-story, full-service hotel includes 8,050 square feet of meeting space, an outdoor pool, fitness center, business center and restaurant and wine bar.

 The hotel is located at 304 West Colonial Drive along Interstate 4 just minutes from the Central Business District and community venues such as Amway Center, Citrus Bowl and the Dr. Phillips Performing Arts Center.

The HFF team was led by director Michael Weinberg and real estate analysts Cecily Nazario and Alexandra Lalos.

Cecily Nazario

“This asset is supremely high-quality in terms of interior finishes and level of service,” Weinberg said. 

  “The Vista Hospitality team always does an excellent job maintaining and operating their hotels.”

With offices in Kitchener, Ontario and Binghamton, New York, the Vista Hospitality Group owns and operates hotels, resorts and other commercial properties throughout Ontario, Quebec, New York, South Carolina and Florida.  Offering more than 2,700 rooms,

Vista has developed sophisticated information management systems that form the basis of a highly efficient and effective organizational structure.  

The Vista Management Executive Team is extremely diverse and has acquired a reputation for proven performance at all of its properties. 

More information is available at www.vistahospitality.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

HFF closes $50.15 million sale of and arranges $21.2 million financing for Brookline, MA multi-housing building

 1440 Beacon Street Apartments, Coolidge Corner Neighborhood, Brookline, MA

Coleman Benedict

BOSTON, MA – HFF announced it has closed the $50.15 million sale of and arranged $21.2 million in acquisition financing for a 136-unit multi-housing building in Brookline, Massachusetts.

                HFF marketed the property for the seller, a joint venture between Westbrook Partners and Nordblom Company. 

  An affiliate of Visconsi Companies, Ltd. purchased the property and will employ Samuels & Associates for property and asset management.

 Additionally, HFF secured a 15-year, fixed-rate loan for Visconsi Companies through New York Life Real Estate Investors. 

                The property is located at 1440 Beacon Street in the Coolidge Corner neighborhood of Brookline, approximately 4.2 miles west of downtown Boston. 

  The transit-oriented multi-housing community has direct access to the MBTA’s (Massachusetts Bay Transit Authority) Green Line, which provides easy access for residents to Boston’s Back Bay, Financial District and Cambridge. 

Ben Sayles

The building is comprised of primarily one-bedroom apartments as well as 32 studio units and includes amenities such as garage parking with direct access, patio area with gas grills and seating areas, and fitness center.

                The HFF investment sales team representing the seller was led by director Mark Campbell, senior managing director Coleman Benedict, director Ben Sayles and real estate analyst Jackie Meagher.

                The HFF debt placement team representing the borrower was led by managing director Greg LaBine.

                “1440 Beacon Street is an irreplaceable asset,” Campbell said.  “It offers Green Line access directly in front of the building, the surrounding amenities of the Coolidge Corner neighborhood and proximity to Boston’s major economic hubs, all within one of Boston’s desirable and affluent communities.”

Regarding the sale, he added, “It was a pleasure to work on a transaction involving groups of such high caliber.”

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 secures $46.725 million financing for newly-completed luxury multi-housing community in Fort Collins, CO

The Trails at Timberline, 2451 South Timberline Road, Fort Collins, CO

Eric Tupler

DENVER, CO – HFF announced it has secured $46.725 million in financing for the recently completed The Trails at Timberline, a 314-unit luxury lifestyle apartment community developed by McWhinney  in Fort Collins, Colorado.

                Working on behalf of DTMF Investments, LLC, an affiliate of McWhinney, HFF placed the 30-year, 4.42 percent fixed-rate Fannie Mae loan with M&T Realty Capital Corporation.  

The loan has a two-year, interest-only period, and is taking out a construction loan on the property.

                The Trails at Timberline is situated on a 16.09-acre site at 2451 S. Timberline Road, close to major Fort Collins and Front Range employers, Colorado State University, Old Town Fort Collins, Foothills Mall and the Front Range Village shopping center.  

Completed in 2014, Trails at Timberline has 12 residential buildings with studio through three-bedroom units averaging 896 square feet each.

Brock Yaffe

Community amenities include a resort-style pool, two-lane bowling alley, fitness center, 3D theatre room, gourmet community kitchen, outdoor barbecue/fire pit area and HD golf simulator.  

The property also promotes a strong sense of community with weekly event programming including yoga classes, themed happy hours and special holiday gatherings.  The Trails at Timberline is 98 percent occupied.

The HFF debt placement team representing the borrower was led by senior managing director Eric Tupler, associate director Brock Yaffe and real estate analyst Matt Gangaware.

                “HFF and M & T Realty Capital Corporation provided DTMF Investments, LLC the most competitive financing terms available in the market in a streamlined and timely manner reflecting The Trails at Timberline’s superb attributes and operating performance,” said McWhinney Vice President of Finance Joshua Kane.

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 $11.75 million sale of suburban Atlanta Kroger-anchored retail center

Spivey Junction, 1748 Hudson Bridge Road, Stockbridge, GA

Jim Hamilton

ATLANTA, GA – HFF announced it has closed the $11.75 million sale of Spivey Junction, an 81,475-square-foot neighborhood retail center in the Atlanta suburb of Stockbridge, Georgia.

                HFF marketed the property on behalf of the seller, Entry Point Capital, LLC.  Phillips Edison Grocery Center REIT II, Inc. & Company purchased the offering. 

                Spivey Junction is located at 1748 Hudson Bridge Road at the northeast corner of the Hudson Bridge and Flippen Roads intersection, less than 25 miles southeast of downtown Atlanta. 

  Kroger, which anchors the center, is ranked the No. 1 grocer in the Atlanta metro statistical. 

  The center is 91 percent leased to a variety of other national and regional tenants, including Kroger’s fuel center, Great Clips, Goodwill, Workout Anytime, Subway, Domino’s Pizza and Miracle Ear.

                The HFF investment sales team representing the seller was led by managing directors Jim Hamilton and Richard Reid and real estate analysts Mike Allison, Pete Anastasi and Brad Buchanan. 

Richard Reid

Phillips Edison Grocery Center REIT II, Inc. is a public non-traded real estate investment trust that seeks to acquire and manage well-occupied grocery-anchored neighborhood shopping centers having a mix of national and regional retailers selling necessity-based goods and services, in strong demographic markets throughout the United States. 

  As of January 6, 2014, the company owned and managed an institutional quality retail portfolio consisting of 20 grocery-anchored shopping centers totaling approximately 2.3 million square feet. 

  For more information on the company, please visit the website at www.grocerycenterREIT2.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

Concord Hospitality and Kane Realty To Develop North Carolina’s First AC Hotel in Raleigh's North Hills

Rendering of planned AC Hotel Raleigh, North Hills Neighborhood, Raleigh, NC

Mark Laport

RALEIGH, NC— Concord Hospitality Enterprises and Kane Realty Corporation announced that they will develop and operate North Carolina's first AC Hotel, a Marriott International lifestyle brand, in Raleigh's North Hills section.

The AC Hotel will be located in the Park District at North Hills near LEED Gold-certified CAPTRUST Tower. 

AC Hotel Raleigh , a 133-room upscale hotel is expected to open in 2016 and will be Concord and Kane Realty’s third hotel joint venture in North Hills, the heart of Raleigh’s Midtown innovative mixed-use district that includes high-end boutiques, well-known department stores, the Triangle’s best dining and a year-round calendar of entertainment.

 “North Hills is the premier midtown Raleigh address and is at the forefront of a national trend in urban development, providing a refined mixture of everything that makes a community desirable," said Mark Laport, Concord’s president and CEO. 

  "We saw the potential for this project when we developed the Renaissance Raleigh/North Hills in 2008 and continued to share the vision when we built the HYATT house hotel in 2013.  It is clear to us that this flourishing urban center can support and will benefit greatly from the addition of another well-respected Marriott brand that speaks to a slightly different demographic than the existing hotels." 

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

Lauralee Dobbins

(703) 435-6293

Lauralee@dalygray.com