Wednesday, July 6, 2016


Walter Saad and Cathy Nabours

                            
AUSTIN, TX,  July 6, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has expanded its Austin office with the addition of Walter Saad and Cathy Nabours, who have joined the firm as managing directors.

 The team, formerly of CBRE, will focus on capital markets transactions across all property types in Central Texas.

Walter Saad has more than 30 years of industry experience and has been involved in the disposition of more than 7.8 million square feet of property sales totaling more than $970 million in volume. 

Sean Sorrell
He was most recently a first vice president of the CBRE Investment Properties team in Austin and has also held posts at Insignia/ESG, overseeing the Central Region Acquisitions team.

 Mr. Saad is a CPA in Texas and is an active member of The Real Estate Council of Austin, International Council of Shopping Centers and the Austin Chamber of Commerce.  He holds a bachelor’s degree in business administration from the University of Notre Dame. 

Cathy Nabours was most recently a first vice president in the Austin CBRE Investment Properties Group where she closed more than 130 properties valued at more than $760 million. 

She is affiliated with the International Council of Shopping Centers and sits on the Board of Directors for the Real Estate Council of Austin.  

Philanthropically, she is a founding member of The Fifty Young Leaders Board, which is in support of the new teaching hospital at Seton University Medical Center Brackenridge in Austin.  Ms. Nabours is a graduate of The University of Texas at Austin.

 In addition, the team will be supported by Laura Fincher, who joins HFF as a production coordinator.

“Walter and Cathy are two of the preeminent commercial transaction professionals in the Austin marketplace. We are thrilled they have decided to come on board with HFF,” said Sean Sorrell, senior managing director and co-head of HFF’s Austin office.

Doug Opalka
  “HFF has grown its Austin presence consistently since 2011, increasing head count and market share, and the addition of Walter, Cathy and Laura will undoubtedly continue that momentum.”

“HFF’s success nationally, in Texas, and here in Austin, is based on a really simple formula: we put our client’s interests first, we have a culture built on collaboration and teamwork, and we very simply hire the absolute best practitioners across our business lines in each market. 

“Walter and Cathy fit this model seamlessly and we are excited to combine their talents with our platform.  This will make the excellent service we provide to our clients in Central Texas even better,” added Doug Opalka, senior managing director and co-head of HFF’s Austin office.

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

Kristen M. Murphy
Director, Marketing
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

HFF arranges $21.878 million in financing for lab conversion in North Carolina’s Research Triangle

  
Venture Center, 4117 Emperor Boulevard, Durham, NC

 
Greg LaBine
CHARLOTTE, NC, July 6, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $21.878 million in financing for Venture Center, a vacant, 138,337-square-foot, single-story lab building in Durham, North Carolina.

HFF worked on behalf of the borrower, an affiliate of Longfellow Real Estate Partners, to secure the three-year, floating-rate loan through Citizens Bank.  Loan proceeds will be used to fund capital improvements for the lab conversion.

Venture Center is situated on 14.26 acres at 4117 Emperor Boulevard in the Research Triangle area of North Carolina.  This location positions the property less than two miles from Research Triangle Park and less than five miles from the Raleigh-Durham International Airport in the Research Triangle Park/Interstate 40 corridor submarket of Raleigh-Durham.

  GlaxoSmithKline, the longtime tenant at the property, sold and vacated the building late last year.  The new owner will implement a complete rebuild of the lab space that will include adding a new loading dock, additional parking spaces, repainting the building and fully landscaping the courtyard. 

“Longfellow's science and technology ecosystem consists of the highest quality buildings in the best locations. We see outstanding value and opportunity in the Research Triangle area’s concentration of talented individuals, exceptional universities, entrepreneurial spirit and thriving quality of life,” said Adam Sichol, managing partner, Longfellow Real Estate Partners.

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

“The Research Triangle is one of the fastest growing hotspots for technology and life sciences.  As such, Longfellow has identified robust demand in the market for professionally owned and operated life science real estate,” said Fowler. 

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

Kristen M. Murphy
Director, Marketing
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


CHMWarnick Awarded Asset Management of Hilton Cleveland Downtown


Chad Crandell

BOSTON, MA  (July 6, 2016) - - - CHMWarnick (“CHMW”), the leading hotel asset management and business advisory services company, today announced that it has been selected by Cuyahoga County to asset manage the 600-room Hilton Cleveland Downtown.

 The $272 million publicly-funded hotel, which opened June 1, 2016, is connected to the First Merit Convention Center, the Global Center for Health Innovation, and Mall B, creating a world-class meetings destination.

"With the addition of the Hilton Cleveland Downtown, CHMW’s 50-plus property asset management portfolio now includes a total of 12 convention center headquarter hotels, with more than 12,000 rooms and one million-plus square feet of meeting space, providing us with unparalleled experience in big-box, group-oriented hotels," said Chad Crandell, managing director and CEO of CHMW.

 "We believe CHMW is now the largest asset manager within this segment. We have asset management responsibility for the single largest hotel in each of approximately half of the U.S. major metropolitan markets, including such cities as Anaheim, Atlanta, Chicago, Cleveland, Detroit, Phoenix and Washington, D.C., among others.

Michael W. Dever
“Working with virtually all of the major brands, including Marriott, Starwood, Hyatt and Hilton, no single firm has our experience in representing the interests of public and private clients in the planning, pre-opening and operational oversight of convention center hotels."

            CHMW was selected following a public RFP process. “CHMW is a proven asset management firm that has produced excellent results for its convention center hotels,” said Michael W. Dever, director of public works for Cuyahoga County. “They were a natural choice to represent the County’s interests to ensure we achieve our business goals.”

The Hilton Cleveland Downtown will offer 46,000 sq. ft. of meeting space with a seamless connection to the 395,000 sq. ft. of function space at the adjoining Convention Center.  Hotel amenities include a full-service business center, indoor pool, fitness center and state-of-the-art guest rooms.

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



978-522-7000.

Berger Commercial Realty Secures More Than 10,000 Square-Feet in South Florida Lease Transactions


Joe Byrnes
FORT LAUDERDALE, FL (July 6, 2016) - Berger Commercial Realty Senior Vice President Joe Byrnes and Senior Sales Associate Jonathan Thiel recently secured 10,498 square-feet in lease transactions for landlords across Broward County.

Powerline Business Center
Byrnes and Thiel represented Rising Tide Development, LLC in renewing its lease for 3,237 square-feet of space to Medicor Healthcare, Inc. and 1,400 square-feet of space each to Festina Lente, LLC and JODA Enterprises, Inc. at Powerline Business Center. Located at 5601 Powerline Road in Fort Lauderdale, the 82,330-square-foot building offers grade-level warehouse, showroom and office space within minutes of I-95 and Florida's Turnpike.

Cypress Creek Business Park
The brokers also represented Rising Tide Development, LLC in renewing its lease for 1,950 square-feet of office space to Cingular Wireless PCS, LLC at the Cypress Creek Business Park in Fort Lauderdale. Located at 6555 North Powerline Road, the property consists of two buildings totaling 54,600 square-feet of space situated just north of Cypress Creek Road near Powerline Road.

Jonathan Thiel

Hollywood Professional Building
Byrnes and Thiel represented Hollywood DEW, LLC in renewing its lease for 1,811 square-feet of office space to Can Am Immigration, Inc. at the Hollywood Professional Building. The 29,044-square-foot office building is located at 6600 Taft Street in Hollywood and offers convenient access to Florida's Turnpike, University Drive and State Road 7.

Parkway Professional Building
The brokers represented DEW Seven, LLC in leasing 700 square-feet of office space to LVM Real Estate, LLC at the Parkway Professional Building. Located at 6151 Miramar Parkway in Miramar, the 40,858-square-foot, three-story building features a courtyard, a key pad entry system, abundant parking and convenient access to Florida's Turnpike and State Road 7.

For more information about Berger Commercial Realty's leasing services, call 954-358-0900.

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

954-776-1999
Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com 

Algonquin Golf Course in Canada to Undergo Multi-Million Dollar Upgrade


Algonquin Resort, St. Andrews, New Brunswick, Canada

Gerry Chase
St. Andrews, New Brunswick, CANADA (July 6, 2016) -- Gerry Chase, president and COO of New Castle Hotels & Resorts, today announced that top Canadian golf course architect Rod Whitman will lead a generational repositioning of the Algonquin Resort’s highly acclaimed course. 

Whitman most recently gained world renown for his work on Nova Scotia’s Cabot Links, the top course in Canada and winner of the Golf Inc. 2012 Development of the Year award.  Cabot Links has secured two Top 100 Worldwide rankings.

“The Algonquin Golf Course is currently recognized as the best in New Brunswick, and ranks among the top 100 courses in the country,” said Matthew MacKenzie, general manager of the resort. 

“We want to elevate that standing and ensure that our course, a Maritimes treasure that has been challenging and impressing golfers for more than a century, stays competitive in terms of the level of play it offers and the sheer beauty of the design. Who better than Canada’s leading golf course architect to make that happen?”  

Rod Whitman
Whitman’s redesign will accentuate the natural beauty of the region, re-sculpting holes, tee boxes, bunkers and greens to optimize the golfing experience.  Sightlines and views will emphasize the Bay of Fundy location and the historic town of St. Andrews.

“New golf course design is always a creative challenge,” said Whitman. “The Algonquin Resort Golf Club has a long and storied history and I am honoured to be entrusted to re-imagine this national legacy. I look forward to the opportunity to further enhance the golfing experience at this one-of a- kind, seaside resort.”

Originally constructed in 1894, The Algonquin Golf Course was redesigned and expanded with an “executive nine” for those who don’t have time for a full 18 in the 1920s.

The current, 7,000-yard, par 72 course was designed in 2000 and is rated the best course in New Brunswick and ranked among the top 100 courses in Canada by Canadian Golf Magazine.  It’s original clubhouse, is believed to be the oldest in the country.

Jim Spatz
According to Jim Spatz, chairman, and CEO of Southwest Properties, and Atlantic Canada’s 2015 CEO of the Year, preparation for the renovation began in the spring and currently is on hiatus to prevent disruption to summer guests.  

Work will resume post-season and Spatz said that he expects nine holes to open early in 2017, with the remainder slated for July 2017.

            Pre-opening tours for golf media and meeting planners are immediately available by prior arrangement.  Please contact:

            Denise Bradbury
            Director of Sales and Marketing
            denise.bradbury@algonquinresort.com
            1 855.529.8693
  
            Resort reservations and golf tee times are available by calling toll free 855-529-8693 or by emailing reservations@algonquinresort.com.  For additional information about the Algonquin Resort, please visit www.algonquinresort.com

The Algonquin Resort is managed by New Castle Hotels & Resorts, of Shelton Conn. and owned by a partnership between New Castle and Southwest Properties of Halifax, NS. 

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

Lauralee Dobbins
Write Touch Public Relations
609-451-5102

Lincoln Property Co. Sells $30 Million Phoenix, AZ Industrial Building to XPO


XPO Supply Chain Building, 7037 West Van Buren Street, Phoenix, AZ

David Krumwiede
PHOENIX, AZ – After leasing a Class A Lincoln Property Company (LPC) distribution facility in the heart of Phoenix’s Southeast Valley industrial market for three years, global supply chain leader XPO Supply Chain Inc. has opted to purchase the building for more than $30 million.

A top-ten global provider of supply chain solutions, XPO (formerly Menlo Worldwide) originally occupied the LPC building 2013, bringing with it wide variety of internet fulfillment-related jobs. Last week, XPO executed its option to purchase the building, which is located at 7037 W. Van Buren St. in Phoenix, for $30,378,000.

“Build-to-suits have been hot in Phoenix for years, but big tenant demand for existing space was average. Now, big tenant activity is on the rise, which is tightening the availability of large blocks of space and making assets like 7037 very attractive for tenants and investors alike,” said Lincoln Property Company’s Executive Vice President David Krumwiede.

The 7037 building totals 552,330 square feet of Class A warehouse/distribution space. Amenities include 31.5 to 35.5-foot clear height, energy efficient lighting, evaporative cooling, skylights and sprinklers.

The 31.8-acre lot includes the main building, a fenced truck court with guard shack and parking for 378 cars, 146 trailer stalls and 100 truck bays with cross dock and front load configurations. It is within a Foreign Trade Zone, providing state and local tax incentives and on-site job training programs. Corporate neighbors include Target, Amazon and HSN.

John Orsak
The project is one mile from Interstate 10, served by two full diamond interchanges at 67th Avenue and 75th Avenue. It is also 15 minutes from Sky Harbor International Airport.

Connecticut-based XPO specializes in supply chain management, truckload brokerage and transportation, high-value-add warehousing and distribution, global forwarding and last mile logistics. 

It employs more than 87,000 in 1,440 locations worldwide, serving more than 50,000 customers including Boeing, The Home Depot, IKEA and L’Oreal.

To discuss development, leasing or investment opportunities with Lincoln Property Company in the Desert West Region, please contact David Krumwiede or John Orsak at (602) 912-8888.

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

Stacey Hershauer
focusAZ
Marketing & Public Relations
(480) 600-0195


Tuesday, July 5, 2016

Proper Title, LLC Welcomes Beth L. LaSalle as Commercial Escrow Closer


Beth LaSalle
 CHICAGO, IL (July 5, 2016) — Palatine, Ill.-based Proper Title, LLC, a full-service title insurance agency serving the residential and commercial real estate industries, announced the firm has hired Beth L. LaSalle as a commercial escrow closer. LaSalle brings more than 32 years of experience in the title insurance industry to Proper Title.

“We are thrilled to welcome Beth to our team, as her expertise will help us build upon Proper Title’s exponential growth, particularly in the commercial sector,” said Ben Niernberg, executive vice president of business development and operations at Proper Title. 

“She has an incredible reputation in the industry, and will perfectly complement our deep bench of experts in the commercial and residential sectors.”

LaSalle, 56, will provide title insurance and escrow services at Proper Title, with a specialty in commercial construction escrow at the firm’s Chicago office. Over the course of her career, she has served in various escrow services roles, most recently as a senior commercial escrow officer at Chicago Title & Trust Company.

Ben Niernberg
 In that position, LaSalle managed multiple escrow accounts, working closely with lender, buyer and seller counsel, as well as underwriting teams. She earned her bachelor’s degree from Indiana University.

“My career has been singularly focused on the title industry since graduating from college, so I am excited to bring my decades-long experience to a firm that truly supports innovation and customer service,” said LaSalle. “Proper Title is poised for continued growth, and I look forward to contributing to its success.”

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

Julie Liedtke, jliedtke@taylorjohnson.com, (312) 267-4521
Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527


HFF closes $69 million sale of and arranges $47.4 million financing for premier creative office building in the heart of Portland’s North CBD Tech Cluster


Cmmonwealth Building, North CBD Tech Cluster Area, Portland, OR


Nicholas Kucha
PORTLAND, OR, July 5, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $69 million sale of and arranged $47.4 million in financing for the Commonwealth Building, a 216,099-square-foot creative-tech office tower situated in the heart of Portland’s North CBD Tech Cluster.

HFF marketed the property on behalf of the seller, Unico Properties LLC.  KBS Capital Advisors purchased the asset on behalf of KBS Growth & Income REIT, and was assisted by HFF in securing a $47.4 million, five-year, floating-rate acquisition loan through an insurance company. 

Originally built in 1948, the Commonwealth Building was renovated between 2013 and 2015 to convert the mid-century building into a creative-tech office tower blending traditional egalitarian design and unique building amenities with timeless design.

 The property offers tenants flexible office spaces with abundant natural light and an amenity package featuring a rooftop amenity deck, building conference room, tenant lounge, basement bicycle storage and an on-site fitness center. 

Fronting the Sixth Avenue transit mall, the Commonwealth Building boasts a Walk Score© of 100 and a Bike Score© of 98.  Additionally, the 95-percent-leased property has been awarded an Energy Star rating and is certified LEED Gold from the U.S. Green Building Council. 

Nick Kassab
The HFF investment sales team representing the sellers was led by senior managing director Nick Kucha and director Nick Kassab.

HFF’s debt placement team was led by senior managing directors Tom Wilson and Kevin MacKenzie.

“The Commonwealth Building was a catalyst for the creative-tech movement to the northern central business district,” said Kucha. 

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com



HFF arranges sale and financing for Hilton Tampa Downtown hotel


Hilton Tampa Downtown Hotel, Downtown Tampa, FL


 
Alexandra Lalos
TAMPA, FL, July 5, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and arranged acquisition financing for the Hilton Tampa Downtown, a 520-room, full-service hotel in the heart of downtown Tampa, Florida.

HFF marketed the property on behalf of the seller, a partnership between Driftwood Hospitality Management, LLC and H.I.G. Realty Partners.  

CrossHarbor Capital Partners LLC purchased the asset.  Additionally on behalf of the new owner, HFF placed the floating-rate acquisition loan with a banking and financial services holding company.

Hilton Tampa Downtown was built in 1982 and fully renovated when it was converted from a Hyatt to a Hilton in 2013.  

The 18-story hotel features a rooftop sundeck, fitness center, executive lounge, business center, heated outdoor pool and spa, 30,000 square feet of meeting space and three food and beverage outlets, 211 Lounge, 211 Restaurant and a full service Starbucks. 

Situated on 5.6 acres at 211 North Tampa Street, the hotel is proximate to several demand generators, including Amalie Arena, Tampa General Hospital, Historic Ybor City, the Florida Aquarium, Port of Tampa Cruise Terminal, Raymond James Stadium and 9.7 million square feet of office space in Tampa’s central business district. 

Daniel C. Peek
The hotel is within walking distance to the planned $2 billion, six million-square-foot, mixed-use office, retail and multi-housing development being executed by Strategic Property Partners, a real estate development firm, which includes Jeff Vinik and Bill Gates’ Cascade Investments.

The HFF investment sales team representing the seller was led by senior managing director and head of HFF’s hotel group, Daniel C. Peek and associate directors Preston Reid and Alexandra Lalos.

The HFF debt placement team representing the borrower was led by managing director Michael Weinberg.

HFF’s Hotel Team continues to be extremely active throughout the state of Florida, having closed 56 hotel-related transactions in the last 24 months, including Hilton Clearwater Beach, La Playa Beach & Golf Resort, Naples Grande Beach Resort, Sheraton Sand Key Resort, Embassy Suites Downtown Orlando, Hilton Key Largo and, locally in Tampa, the Sheraton Tampa Riverwalk Hotel and the Sheraton Suites Tampa Airport Westshore.

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com



KTGY Architecture + Planning’s Chicago/Midwest Office Welcomes Two New Job Captains


Ralitsa Todorova
CHICAGO, IL (July 5, 2016) — KTGY Architecture + Planning, an award-winning national architecture and planning firm, announced it has hired Joy DeWitt and Ralitsa Todorova as job captains at the firm’s Chicago/Midwest office.

Together, DeWitt and Todorova bring more than 14 years of architecture and design experience in the healthcare, mixed-use and senior housing sectors, among others.

“Joy and Ralitsa perfectly complement the team at our growing Chicago office, as they both have extensive experience within the sectors in which KTGY specializes,” said David M. Kennedy, AIA, LEED AP, principal at KTGY Architecture + Planning’s Chicago/Midwest office.

 “We’re excited to leverage their exceptional talents and continue the firm’s Midwestern expansion into the healthcare, mixed-use, senior housing and retail space.”

As job captains, DeWitt and Todorova, both 31, will oversee construction document production and building coordination for a number of national projects out of KTGY’s Chicago/Midwest office. Both will also manage design solutions, code analysis and space planning on behalf of the firm.

Joy DeWitt
Prior to joining KTGY, DeWitt worked at Chicago-based PFB Architects as a project manager, specializing in healthcare and senior living developments. During that time, she was involved in a number of medical projects at The University of Chicago Medical Center.

 Prior to that, DeWitt also spent several years in Tianjin, China, working on master-planning competitions, high-rise housing and several commercial projects. She earned a master’s degree in architecture and a bachelor’s degree in design architectural studies from the University of Nebraska. 

Additionally, DeWitt is a certified Construction Documents Technologist (CDT) through the Construction Specifications Institute.

Todorova comes to KTGY from Chicago-based FitzGerald Associates Architects, where she spent two years working alongside architects to develop feasibility studies and designs for multiple mixed-use, mid-rise residential and single-family housing developments.

She previously served in a junior architect role at SAS Architects & Planners, where she led designs for healthcare and senior living facilities. Prior to that, Todorova managed commercial tenant build-out projects, focusing primarily on restaurant and foodservice design, for Chipman Design Architecture.

She graduated with honors from the Illinois Institute of Technology in Chicago with a bachelor’s degree in architecture.


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

Julie Liedtke, jliedtke@taylorjohnson.com, (312) 267-4521
Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528



Lincoln Announces Anchor Tenant for Tremont Plaza in Orlando, FL


Nan McCormick
ORLANDO, FL (July 5, 2016) – Lincoln Property Company (Lincoln), the developer for the 28-story Tremont Plaza in downtown Orlando, Florida, is pleased to announce its anchor tenant, FAIRWINDS Credit Union, the largest Orlando-based financial institution with $2 billion in assets.

Nan McCormick of CBRE represented FAIRWINDS in the transaction.

“We’re pleased to be growing as a financial institution and expanding our presence in downtown Orlando,” said Larry Tobin, president and CEO of FAIRWINDS Credit Union. “We look forward to the development that Tremont Plaza will bring to our beautiful city, including jobs, local business, and tourism.”

Tremont Plaza, a mixed-use high-rise located on the “gateway corner” of Garland Ave. and South St., will include retail, restaurant, and banking space in the lobby, approximately 650 parking spaces in 10 levels of structured parking, seven levels of office space totaling more than 200,000 square feet, and an eight-story, 180-room AC Hotel by Marriott.

Scott Stahley
“Tremont Plaza will offer a prime location in an office market that has been experiencing a wealth of leasing activity, but hasn’t had new office space since Lincoln built 111 North Magnolia almost a decade ago,” said Scott Stahley, senior vice president of Lincoln.

The plans also include incorporating a new Sunrail platform for Church Street Station inside the building, providing for a ‘Grand Central Station’ type of feel and arrival, which will offer future access to Orlando International Airport and connectivity to Miami CBD via All-Aboard Florida’s high-speed train.

“It’s become apparent that this unprecedented transit-oriented development, centrally located in the CBD, coupled with its lifestyle hotel as an amenity, will make the property very appealing to not only start-up and tech companies who are seeking to attract and retain top talent, but typical office tenants and hotel guests as well,” Stahley added.   

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

Savannah Durban
The Wilbert Group
404-343-0870

Lincoln Property Company to Provide Technical Services for Brookside I and II in Alpharetta, GA


Jeff Clayton
ATLANTA, GA (July 5, 2016) – Lincoln Property Company (Lincoln) has been retained to provide technical maintenance services for Brookside I and II, two Class A office buildings located in Alpharetta, Georgia.

The new ownership group, IPX Brookside Investors, LLC, which is managed by BPG Management Company, LP, selected Lincoln Property Company Commercial, Inc. to continue its day-to-day technical management services.

“The quality of the buildings and their location make Brookside I and II perfect for tenants looking to expand or open new offices in the north Fulton submarket,” said Jeff Clayton, director of engineering. “Our attention to detail and programmed maintenance optimizes operations while reducing operating expenses.”

Located off Old Milton Parkway near Interstate 400, the property offers suites ranging from 1,835 to 6,445 square feet, surface parking and immediate proximity to hotels, banks and dining.

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

Savannah Durban
The Wilbert Group
404-343-0870

Saturday, July 2, 2016

RealtyTrac Ranks Best Bargain Beach Towns for Summer 2016

  
Daren Blomquist
IRVINE, CA -- RealtyTrac® (www.realtytrac.com) the nation’s leading source for comprehensive housing data, released a special report ranking the best bargain beach towns for summer 2016 based on median home prices, average summer temperatures, air quality and density of registered criminal offenders.

For the report RealtyTrac analyzed more than 1,400 cities in coastal counties as defined by the U.S. Census Bureau. The list was narrowed all the way down to the top ranking bargain beach town in each of the 15 states with a city matching the final criteria for a bargain beach town.

“Buying a second home or investment property in a beach town can help families save on summer vacations for years to come and also potentially generate vacation rental income,” said Daren Blomquist, senior vice president at RealtyTrac.

“While real estate close to the ocean tends to be pricier, bargains are still available particularly smaller towns off the beaten path where home prices have been slower to bounce back from the housing downturn.

“ We picked the highest-ranked bargain beach town from each state to provide a good sampling of the diverse beach town experiences available across the country.”

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

Jennifer von Pohlmann
949.502.8300, ext. 139

Real Estate Capital Institute Reports Hot Summer for Debt and Equity Markets


Jeanne Peck
CHICAGO, IL  -The summer remains hot for the real estate
debt and equity markets, despite some cooling on the coasts. Even as prices
have peaked in some of the major primary markets, much of the country still
on track with record sales and financing volumes. Low rates, lack of quality
investment opportunities and overall strong cash flow performances keep
investors in the game at a frenzied pace.

After the surprising results of Brexit plunged rates to record-low territory
late last month, the Fed may abandon any efforts to raise rates and even
lower rates.  Even as the British European Union issues subside, overall
global malaise should continue to keep yields low with foreign investors
flocking to US treasuries for safety.

Persistently low interest rates assure that capitalization rates will also
remain low, translating to peak pricing with less attractive yields.

However, some markets are starting to see pricing levels stabilize, as
investors find minimal yield differences between various property sectors.
For instance in the case various types of "bed" properties, student housing,
senior facilities and traditional multifamily assets trade at much tighter
yield spreads than in the past. Any type of institutional quality
investments, longer-term internal rate of return benchmarks are in the
middle to higher single-digit range for core properties.

Will real estate investors flock to other more profitable investment
categories?  More opportunistic investments are advertising yields in the
lower to middle teens, also at historical lows, but not low enough to
discourage investing.  In other words, real estate yield risks are still
perceived to be lower in comparison to alternative stock market investments,
since deals are backed by "real" assets.

Now more than ever, borrowers are ambivalent to fixed-versus-floating-rate
debt. Overall mortgage rates dipped below 3% for shorter-term debt of five
years or less; longer-term fixed-rate debt is priced in the higher 3% to
lower 4% range. Due to a variety of factors relating to risk aversion and
regulatory concerns, many lenders favor "safety versus yield philosophy,"
offering lower rates as opposed to higher leverage (e.g. more than 65%
loan-to-value).

Jeanne Peck of the Real Estate Capital Institute(r) suggests, "Lenders are
accustomed to providing lower leveraged loans."  She adds "Just the same,
investors are becoming accustomed to keeping more cash in properties since
fewer other yield opportunities exist and prices stay at peak thresholds."


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

Jeanne Peck
Executive Director 
director@reci.com
www.reci.com

Blue Atlantic Partners Buys Two Luxury Properties in Georgia


Greg Ward
ATLANTA, GA – Atlantic | Pacific Companies (A|P) and Blue Arch Advisors, via their fund, Blue Atlantic Partners, have purchased two properties in Georgia: Rock Creek at Vinings and Rock Creek at Ashford.

The purchase marks A|P’s 17th acquisition in the metro-Atlanta area, bringing the size of their portfolio in Atlanta to approximately 4,500 units.

Greg Ward, Chief Investment Officer of the fund, remarked “We are excited to add these properties to our growing Atlanta portfolio.  

"They represent a continuation of our strategy to acquire assets in locations with strong demographics and high barriers to entry.  We plan to implement an extensive interior and exterior renovation program across the properties.”

Rock Creek at Vinings, located in Smyrna, which is historically one of the fastest growing cities in Georgia, sits on 33 acres on the northwest side of Atlanta Road SE.  The property has 403 units consisting of one, two and three bedrooms. Rock Creek at Ashford is located on 13 acres in the city of Brookhaven, GA and consists of studio, one and two bedroom units. The community features a dog park, resident garden, BBQ grills areas, and gated entry.

 For more information about A|P and its array of real estate services including development, property management, affordable housing, and construction, visit www.apcompanies.com  or call (800) 918–1145. Follow A|P on Facebook (@AtlanticPacificCompanies), Instagram (@APCompanies) and Twitter (@APCompanies).

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

Jessica Wade Pfeffer | jessica@jessicawadeinc.com | Jessica Wade Inc. | 7100 Biscayne Blvd | Miami, FL - Florida 33138