The first 5-star hotel arrives in Parramatta, Australia with the opening of SKYE Hotel Suites

Skye Hotel Suites Parramatta, Parramatta, Sydney, Australia

Iwan Sunito

SYDNEY, AUSTRALIA -- SKYE Hotel Suites Parramatta opens its doors this week, bringing unrivalled urban luxury to Sydney’s West. The highly-anticipated opening sees Crown Group lead the charge into Parramatta’s 5-star hotel market, elevating the suburb into Sydney’s second CBD.

Commenting on Crown Group’s move into the luxury hotels arena, Chairman & Group Chief Executive Officer Iwan Sunito noted, “Parramatta is a powerhouse for innovation and business and SKYE Hotel Suites will be a stand-out, luxury addition to Sydney’s up-and-coming West.

“Appealing to a new generation of domestic and international visitors to the city, SKYE Hotel Suites is designed to create a fresh lifestyle standard delivering superior apartment-sized suites for discerning travellers. It will also set the benchmark for future SKYE Hotels Suites openings in Sydney’s CBD in 2018 and Green Square in 2019.”

The building itself is an architectural centrepiece for Parramatta, achieved by twin visionaries Allen Jack + Cottier and Koichi Takada Architects. Located less than 300 metres from Parramatta Square and a short walk from Parramatta’s train station and ferry wharf, SKYE Hotel Suites is surrounded by high-end retail and cultural experiences.

Committed to the ultimate in guest luxury, SKYE Hotel Suites comprises 72 apartment-style suites with the finest bespoke furnishings and fittings.

Sven Almenning

 Each features L’Occitane toiletries, in- room dining from a modern on-site restaurant, pre-stockable maxi-bar, the unique ability to choose your own mattress firmness on each side of the bed, keyless entry and ‘virtual concierge’ tablets to enable access to all hotel services from each suite.

Amenities to delight even the most seasoned business traveller or the most demanding holidaymaker include a state-of-the-art gymnasium, pool, sundeck, spa, sauna and new restaurant, Husk & Vine Kitchen and Bar, which opened at lobby level on July 1.

Later this year cocktail legend Sven Almenning will also open a breathtaking 26th floor rooftop bar, overlooking Sydney’s iconic skyline.

For a complete copy of the company's new release, please contact:

Hwee Peng Yeo

Vice President

Glodow Nead Communications

San Francisco • New York • Singapore • Shanghai
Level 21, Centennial Tower, 3 Temasek Avenue • Singapore 039190
Level 15, One Corporate Avenue, 222 Hubin Road, Shanghai China, 200021

1700 Montgomery Street, Suite 203 • San Francisco, CA • 94111

US:415.394.6500 • Asia: 65.9768.6087 •  E: hweepeng@glodownead.com

www.GlodowNead.com

National Retail Properties Announces Second Quarter 2017 Operating Results and Increased 2017 Guidance

Jay Whitehurst

Orlando, FL – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, announced its operating results for the quarter and six months ended June 30, 2017.

Jay Whitehurst, Chief Executive Officer, commented: “National Retail Properties enjoyed another impressive quarter, driven by our healthy portfolio, our selectively underwritten acquisitions, and our flexible, low leverage balance sheet, all of which has positioned us to raise our guidance and, as previously announced, to raise our common dividend for the 28th consecutive year, a record matched by only three other REITs and less than 90 public companies in the United States.”

Second Quarter 2017 Highlights:

Kevin Habicht

• FFO per share increased 5.4% over prior year results

• Core FFO per common share increased 8.5% over prior year results

• AFFO per common share increased 8.3% over prior year results

• Portfolio occupancy was 99.3% at June 30, 2017 as compared to 99.1% at March 31, 2017 and 99.0% at December 31, 2016

• Invested $299.5 million in property investments, including the acquisition of 140 properties with an aggregate 832,000 square feet of gross leasable area at an initial cash yield of 6.9%

• Sold eight properties for $9.3 million producing $2.7 million of gains on sales, net of non-controlling interests

• Raised $25.1 million net proceeds from the issuance of 583,946 common shares.

 National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.

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

Kevin B. Habicht

Chief Financial Officer

(407) 265-7348

Marcus & Millichap Arranges $1.65 Million Sale of 20-Unit Vista Gardens Apartments in Tampa, FL

Joshua Teplitzky

TAMPA, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Vista Gardens Apartments, a 20-unit apartment property at 3809 West Iowa Avenue in Tampa, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,650,000.

Joshua Teplitzky, Francesco P. Carriera and Michael P. Regan, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  

The buyer, a private investor, was also secured and represented by the three brokers.

“Vista Gardens represents a transaction sold by our team twice within eleven calendar months,” says Teplitzky. 

“In a combined effort of working with the owner and putting a business plan in place, we increased the value of the underlying asset by 58% within a very short time frame,” added Teplitzky.

“The buyer acquired the property at the list price and increased his holdings within the Port Tampa submarket to over 100 units in addition with another property we sold him earlier this year,” concluded Teplitzky.

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

Ari Ravi

Regional Manager, Tampa

(813) 387-4700  

Stos Partners Acquires Prime 170,805-SF Multi-Tenant Industrial Asset in Chula Vista, CA Submarket

  

 

CJ Stos

SAN DIEGO, CA (Aug. 2, 2017) – In a move that proves there is still good value to be found in the tight industrial market of San Diego’s sought-after South Bay region, Stos Partners, a privately held commercial real estate investment and management firm, has acquired a 170,805 square-foot two building multi-tenant industrial project at 1670-1690 Brandywine Avenue in Chula Vista, California

           

            Michael Mossmer of Voit Real Estate Services represented Stos Partners as the buyer in the $13.45 million acquisition, as well as the seller, a private family.

The property, which was acquired off-market, is widely considered desirable by private and institutional investors due to its size, location and mix of local and national tenants from many industries.

 “This is one of the most sought-after opportunities in the region, and we were able to acquire it at a price that many would think was not possible,” says Jason Richards, a Partner at Stos Partners. “Our investment platform is centered on identifying well-located office and industrial assets with a value-add component.”

Jason Richards

The project is currently 100% occupied by a mix of local and national credit tenants in various industries, including manufacturing, medical supply and distribution, as well as defense.

“Multi-tenant industrial remains the gem of the industrial investment sector, and is exceptionally hard to find in today’s supply-constrained market,” says CJ Stos, Principal of Stos Partners. “By working closely with our broker to source this deal off-market, we were able to acquire the asset 50% below replacement cost, and now have a tremendous opportunity to create and maintain value.”

Stos explains that this submarket is benefitting from exceptionally tight, 1-2% vacancy in neighboring National City, which is driving tenants to Chula Vista.

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

Lauren Burgos / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

lburgos@browermillercole.com

www.stospartners.com

Stepp Commercial Names Mark Ventre as Vice President

Mark Ventre

LOS ANGELES, CA, Aug. 2, 2017 - Stepp Commercial, a leading multifamily brokerage firm in the greater Los Angeles market, has named 10-year industry expert Mark Ventre as vice president.

In his new role, Ventre will focus on servicing his clients in Hollywood and growing market share for the firm in prime Westside neighborhoods including Palms, Mar Vista, and West Los Angeles, as well as continue to represent owners, buyers and developers throughout Los Angeles County.

"Mark is an integral part of Stepp Commercial's growth strategy as we continue to strengthen our footprint in key markets throughout Los Angeles," said Kimberly Stepp, principal of Stepp Commercial. "His vast knowledge of the sector as well as his street-level understanding of the Hollywood and Westside markets is a game changer for our firm as we continue our upward trajectory as long-term market leaders."

Kimberly Stepp

"I chose to join Stepp Commercial because of its team-oriented and collaborative culture as well as its very focused specialty of providing institutional-quality experience and expertise to the private capital market." said Ventre.

"It is crucial that private owners receive the time and attention they deserve as their investment decisions directly affect their lives and legacies. I have echoed this mantra throughout my career and believe my clients will be best served within Stepp Commercial's proven business platform."

Ventre most recently served as director with Berkadia where he focused on providing solutions for high net worth private investors and syndicators. Prior to joining Berkadia, he was a senior sales director on one of CBRE's most successful teams.

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

Darcie Giacchetto

D.G. Communications, Inc.

949.278.6224

http://steppcommercial.com

The Astor Companies Obtains $59 Million Construction Loan for Merrick Manor; Luxury residential project in Coral Gables, FL on track for first quarter of 2019 completion

Merrick Manor, 301 Altara Avenue, Coral Gables, FL

CORAL GABLES, FL – Pioneering Miami developer The Astor Companies has obtained a $59 million construction loan for Merrick Manor, a luxury residential project rising in the heart of Coral Gables. Work is well underway at the 301 Altara Avenue site of the 10-story, 227-residence project.

Florida Community Bank provided the 24-month construction loan. Additional loan terms were not disclosed.

Henry Torres

“This is a significant step for our project,” said Henry Torres, President, CEO and Founder of The Astor Companies. “Securing this loan continues the momentum we have enjoyed since starting vertical construction during the first quarter of 2017. It sends a strong signal to the marketplace.”

The Mediterranean villa-style building is on track for a scheduled completion during the first quarter of 2019. Prominent architecture firm Behar Font & Partners, P.A. designed the building, with Witkin Hults Design Group providing landscape design.

Renowned South Florida-based interior design firm Interiors by Steven G. has continued a longstanding relationship with Astor by designing unit interiors at Merrick Manor. Jaxi Builders of Doral is the project’s general contractor.

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

BoardroomPR

Todd Templin: ttemplin@boardroompr.com, 954-370-8999

Eric Kalis: ekalis@boardroompr.com, 954-370-8999

HFF arranges £27.6 million ($36.53 Million U.S.) financing for 43 Brook Green in London

Brook Green Office Building, London, England

LONDON, ENGLAND –– HFF Real Estate Limited (HFF) announced it has arranged £27.6 million ($36.53 million U.S.) in financing for 43 Brook Green, an 85,000-square-foot, single-tenant office building in London.

Claudio V. Sgobba

HFF advised NEO Capital Limited (NEO) to secure the bilateral floating-rate facility from Deutsche Asset Management for its first acquisition in the U.K. market.

43 Brook Green is located in the Hammersmith submarket of London.  The property is fully leased to CH2M, a United States-based global engineering company.  

CH2M’s predecessor company, Halcrow Group Limited, began occupying the transit-oriented building in 2003 with CH2M executing a lease extension in 2014 guaranteeing occupancy through 2030.

The HFF debt placement team representing the borrower was led by senior director Claudio V. Sgobba.

“This was a very competitive financing assignment given the high-quality asset and well-margined loan request,” said senior managing director and leader of HFF London’s debt advisory platform Michael Kavanau.  “Deutsche Asset Management did an outstanding job in structuring and closing an attractive package for our client.”

Michael Kavanau

“We are pleased to support NEO on their first U.K. real estate acquisition,” Sgobba added.  “NEO has been actively looking for a compelling “deep value” strategic location and asset in London, and 43 Brook Green represents a high-quality investment with a blue chip tenant we had previously financed in the U.S.”

“The average rent in Hammersmith is 50 percent higher than the passing rent of £33 ($43.68 U.S.) per square foot, and the Hammersmith submarket is 60 percent below the average leasing rates seen in Mayfair,” Sgobba continued. 

“Lenders are comfortable with the supply and demand fundamentals in Hammersmith, and we expect to see more capital from Asia and the Middle East on the hunt for the six to eight percent cash-on-cash return the location delivers.”

Andrea Vanni, head of European Real Estate Debt Investments at Deutsche Asset Management said, “We are very excited about this new relationship with both HFF and NEO, and we are very pleased to add this new investment to our senior real estate debt fund.”

Andrea Vanni

NEO Capital Limited (“NEO”) was founded by two seasoned investment bankers bringing together over 30 years of experience.  

The firm provides Gulf investors with bespoke investment commercial real estate and private equity deals.  With a presence in London, NEO’s investment strategies are focused on the developed markets of the United Kingdom, Germany and the United States.

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

Olivia Hennessey

Public Relations Specialist

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

tel 713.852.3403 | fax 713.527.8725 | hfflp.com

ohennessey@hfflp.com

Public Voting Opens Aug. 1 for $120,000 Donation from Baird & Warner’s Good Will Network to Support Chicagoland Communities

Jennifer Alter Warden

CHICAGO (Aug. 1, 2017) — Baird & Warner, Chicagoland's largest locally owned independent residential real estate services company, has announced its charitable arm, the Good Will Network, will donate $120,000 in grants this year to nonprofit organizations that provide shelter and homelessness services to people at risk.

This year’s Good Will Network initiative, called “$24K of Solid Good,” invites the public to vote online in choosing the five winning organizations that will each receive $24,000. The donations mark a 20 percent increase from last year’s Good Will Network donation amount.

“Baird & Warner has been serving every corner of the Chicagoland area since 1855, and any time we see an opportunity to give back to the communities we serve, we seize it,” said Jennifer Alter Warden, chief operating officer and executive vice president of Baird & Warner, who leads the Good Will Network’s efforts.

“Homelessness affects an estimated 82,000 people in the city of Chicago alone. We increased the amount awarded this year to sustain a broader positive impact and help lower the number of homelessness in communities across the entire region.” 

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

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

Rebecca Boykin, rboykin@taylorjohnson.com, (312) 267-4523 

Passco Companies Sells 270-Unit Multifamily Community in Phoenix Submarket for $36 Million; Generates 170.5 Percent Return to Investors

Ovation at Tempe Apartments, Tempe, AZ

 

Bill Passo

                TEMPE, AZ –  Passco Companies, LLC, a privately held Calif.-based real estate company that specializes in the investment, acquisition, development and management of commercial properties throughout the U.S., along with its JV-partner, InSite Property Ventures, has sold Ovation at Tempe, a 270-unit multifamily community in the Phoenix submarket of Tempe, Arizona for $36 million.

The JV partnership initially acquired the asset for $25.85 million in 2014 and sold it for $36 million three years later, according to Passco’s Founder and CEO, Bill Passo.

“We recognized that there was a tremendous opportunity to create value and capitalize on the ongoing growth throughout the Phoenix Metro, which is exactly what we did,” says Passo.

 “When we initially acquired the property, the region was in proven recovery with plenty of runway left for growth in terms of both value and rents. In fact, rents in the Phoenix Metro have increased by 5.6 percent over the past year alone, which is attracting significant investor interest to the region.”

Bill Passo

Passo explains that the firm’s ability to recognize the deep value potential of this market early in the recovery cycle allowed them to sell the asset for a premium price, ultimately achieving a 170.5 percent return to investors.

            During ownership, the JV partnership implemented a series of interior and exterior improvements to the apartment community including upgrading unit interiors, constructing additional carports and enhancing the property’s exterior and community amenities. 

“This was a strong value-add opportunity for our firm,” says Belden Brown, Senior Vice President and National Sales Manager at Passco Companies who also notes that the firm is actively seeking value-add opportunities throughout the U.S. “By renovating and updating the property, we were able to optimize the asset and significantly drive value in a very short period of time.” 

 Michael Sun, Founder of InSite Properties, LLC adds, “These capital improvements also provided the opportunity to significantly increase rental and ancillary income, as well as position the asset for long-term rent appreciation. This made the property very attractive to investment groups, allowing us to achieve an IRR of approximately 21-22 percent.”

Ovation at Tempe is a very unique apartment community that features one- and two-bedroom apartment units, as well as separate casitas and townhomes situated on approximately 16 acres.

Michael Sun

“The property has one of the lowest unit densities in Tempe and is strategically located in close proximity to retail, entertainment, employment hubs, and education centers,” says Mark Forrester, Senior Managing Director at commercial real estate firm Berkadia, which completed the sale on behalf of the JV partnership, in addition to arranging the financing.

 “Passco and InSite Property Ventures’ value-add strategy truly positioned the asset for long-term growth and filled a void in the local market for high-quality Class A product.”       

The property is located at 4502-4505 S. Hardy Drive in the city of Tempe, Arizona.

Berkadia’s Phoenix team of Mark Forrester, Senior Managing Director, Ric Holway, Senior Managing Director, and Dan Cheyne, Senior Director, represented the seller, while Berkadia’s Managing Director Jackson Cloak of the firm’s Irvine office arranged the $27 million in financing through Freddie Mac.

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

Lauren Burgos/ Lexi Astfalk

Brower, Miller & Cole

(949) 955-7940

LBurgos@browermillercole.com

www.berkadia.com.

www.insitellc.com.

www.passco.com

Meridian Capital Group Arranges $21.7 Million in Ground-Up Construction Financing for Meyers Group’s Avery Place at Pompano Multifamily Development in Pompano Beach, FL

 

;Noam Kaminetzky

Boca Raton, FL – Meridian Capital Group, America’s most active dealmaker, arranged $21.7 million in ground-up construction financing for the development of the Avery Place at Pompano multifamily property in Pompano Beach, FL, on behalf of the Meyers Group.

The three-year construction loan, provided by a balance sheet lender, features a floating rate of 3.50% over 30-day LIBOR, full-term interest-only payments and two one-year extension options.

 This transaction was negotiated by Meridian Managing Director, Noam Kaminetzky, who is based in Meridian’s Boca Raton, FL office and Senior Vice President, Sam Grunberger, who is based in Meridian’s Iselin, NJ office. 

Avery Place at Pompano, located at 225 North Federal Highway, is situated in a prime location right off of Federal Highway in Pompano Beach. The Meyers Group had the opportunity to purchase the land adjacent to an existing parking garage that will provide parking for future tenants.

Sam Grunberger

Upon completion, the 163,000 square foot property will be an eight-story class-A multifamily property, with 145 luxury rental units and an attached garage. 

Amenities will include a multi-function room, billiards and media room, a fitness center including a yoga room, lushly landscaped pool and garden area with grilling stations, cabanas, a waterfall, and a fire pit.

“Despite construction loans becoming increasingly more difficult to come by in this market, Meridian was able to leverage its relationship with a balance sheet lender to secure financing for this exceptional project,” said Mr. Kaminetzky.

“In collaboration between Meridian’s Florida and New Jersey offices, we were able to successfully facilitate the closing,” said Mr. Grunberger. “It was a pleasure and an honor to work with The Meyers Group, a very prominent and successful developer and operator of multifamily properties,” he added. “I look forward to seeing Avery Place at Pompano completed, as I am confident that it will become a stunning asset.”

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

Jonathan Stern

Meridian Capital Group

212/972-3600

jstern@meridiancapital.com

NAI Realvest Completes $1.1 Million Sale to Habitat for Humanity on Silver Star Road in Orlando, FL

  

Michael Heidrich

Orlando, FL  -- NAI Realvest recently negotiated the sale of a 16,158 square foot industrial building at 4116 Silver Star Rd. in Orlando for $1,100,000.00.  

Michael Heidrich, principal at NAI Realvest, negotiated the transaction representing the seller, LC Realty Associates, LLC. 

Habitat for Humanity of Greater Orlando, Inc. purchased the property after leasing it more than 4-1/2 years.    Jason Schrago of Newmark, Grubb, Knight, Frank represented the buyer in the transaction. 

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

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

George Smith Partners Secures Acquisition Bridge Financing for Celebrity Condo Conversion in West Hollywood, CA

Patio del Moro Apartments, West Hollywood, CA

LOS ANGELES, CA (July 31, 2017) – Commercial real estate investment banking firm George Smith Partners has successfully secured bridge financing for the acquisition and condominium conversion of Patio del Moro, a seven-unit, courtyard-style apartment community in the West Hollywood submarket of Los Angeles.

 The financing was arranged by George Smith Partners Vice President Zachary Streit.

                Built in 1926 by renowned architects Arthur and Nina Zwebell, Patio del Moro is a historically-designated and architecturally-significant property that was once home to some of the most prominent celebrities in Hollywood history, including Charlie Chaplin, Paulette Goddard, Joan Fontaine, Humphrey Bogart, and Suzanne Pleshette.

Patio del Mar

            “This condo conversion is one of the first to take place in West Hollywood since the Recession, a sign that condos are making a comeback in Los Angeles,” explains Streit.

“The property’s historic significance, coupled with its irreplaceable urban-infill location, presented an attractive investment opportunity to capitalize on the demand for housing in West Hollywood. This deal reflects a renewed investor interest in for-sale residences, as well as strong lender appetite for condos in this market.”

Zachary Streit

            The sponsor, Brian Friedman investing through his family office Friedman Capital, is a private equity, venture capitalist, and commercial real estate investor developer who has been involved in the conversion and sale of more than 1,000 condominium units over the last 20 years.

He founded Friedman Capital in 2008, and is also the founder and managing partner of Foxhall Partners in Washington DC. Brian purchased this property with his older brother Jay, who has been a resident of Hollywood for decades.

Upon acquisition, the sponsor plans to renovate the property and apply for a Mills Act Tax Abatement, which provides economic incentives for the restoration and preservation of historic buildings by private owners.

            “Despite this asset’s prime location and unique investment potential, the challenge was getting lenders comfortable with the sponsor’s conversion strategy,” notes Streit. “Given the property’s historic landmark status and limited on-site parking, negotiating the condo mapping and release provisions would be difficult and would require an extensive set of approvals.”

Streit continues, “To address and resolve these concerns, we focused on demonstrating the sponsor’s proven track record of successful condo conversions and the pent-up demand for residences in West Hollywood. Our ability to source an attractive bridge loan to finance this deal is a testament to our market expertise, as well as the strength of our capital relationships.”

Paulette Goddard

Located just one block south of the Sunset Strip, in close proximity to a plethora of high-end restaurants, retailers, and music venues, Patio del Moro is situated in the heart of West Hollywood, a supply-constrained, high-demand Los Angeles submarket.

In recent years, West Hollywood has emerged as one of the most walkable, amenity-rich neighborhoods in Los Angeles, according to Streit. Notable attractions include entertainment venues such as the Roxy Theatre and The Troubadour; boutique hotels such as The Standard; The Pacific Design Center; film, television, and music production studios; and much more.

Brian Friedman

“West Hollywood is at the epicenter of the ongoing cultural revitalization in Los Angeles, and truly embodies the live/work/play lifestyle that today’s residents are demanding,” says Brian Friedman, Founder of Friedman Capital family office and Managing Partner of Foxhall Partners. “Patio del Moro’s proximity to nearby amenities, coupled with its historic character and old Hollywood charm, makes it well-positioned to cater to the demand for housing in this market.”

Designed in the Spanish Revival courtyard style with distinct Moorish features, Patio del Moro offers average unit sizes of 1,425 square feet, which are larger than average for this submarket, and includes a mix of mostly two- and three-bedroom units.

George Smith Partners secured the $4.5 million loan from a bank with a national lending platform. Sized to 65% of cost, the bridge loan is interest only and floats at prime plus 0.5%.

The property is located at 8225-8237 Fountain Avenue in West Hollywood, California.

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

Miki (Conant) Akil / Katie Kea

Brower, Miller & Cole

(949) 955-7940

makil@browermillercole.com

www.GSPartners.com.

Doug Burt Joins 29th Street Capital as VP of Multifamily Acquisitions in Central Texas

Doug Burt

Houston, TX (July 31, 2017) – Doug Burt has joined 29th Street Capital (29SC) as Vice President of Multifamily Acquisitions for Houston and Central Texas.

Burt is responsible for all facets of the privately-held real estate investment and advisory firm’s multifamily acquisitions and asset management strategies in this region.

 He will target opportunistic and value-add acquisitions in the market with the goal of expanding the company’s presence in the region and add to the existing portfolio, which consists of seven assets and over 2,000 units.

“We are extremely pleased to have Doug join our acquisition team,” said 29th Street Capital Senior Vice President Javier Bustillo. “He has an established track record of success in Texas and will play a key role in our company’s continuing expansion.”

“I’m excited to be joining an extremely well-capitalized, yet still very entrepreneurial company like 29th Street Capital,” Burt said. “I’m looking forward to growing the company’s portfolio throughout the Texas markets.”

Javier Bustillo

Prior to joining 29th Street Capital, Burt spent the past three years at Tarantino Properties where he helped lead the multifamily acquisition and brokerage departments. 

His responsibilities included underwriting, sourcing investment opportunities, negotiations and new business development. 

Having conducted sales and acquisitions of value-add multifamily properties throughout the state of Texas, Burt has a proven record in all aspects of multifamily real estate investments. 

He possesses a strong understanding of multifamily financial analysis, market conditions and investment principles. Burt earned his BBA in Real Estate at the University of North Texas.

In addition to sourcing and completing acquisitions, his responsibilities at 29SC include complete oversight of projects; selecting third-party management; and overseeing all capital projects, marketing/design and dispositions.

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

Terri Thornton

Partner, Thornton Communications

Phone: 404-932-4347

Email: Terri@TerriThornton.com 

Florida Retail Partners Negotiates Deal to Bring Bento Café to Downtown St. Petersburg, FL

 

Sandia Wasserman

ST. PETERSBURG, FL -- With much anticipation, Bento Asian Kitchen + Sushi, a quick-casual pan-Asian restaurant with 9 locations throughout Florida, will officially introduce its concept to downtown St. Petersburg.

Florida Retail Partners, an X Team partner, represented Bento in the 2,710 square foot deal with Joshua Sims of Vector Realty representing the landlord. The location is set to open at 330 Third Street South – in the base of the AER apartment building near the University of South Florida St. Petersburg campus. 

The Downtown St. Pete location will be the 11th restaurant for Bento Café.  “Bento and downtown St. Pete are a great match, said Sandia Wasserman of Florida Retail Partner who negotiated the deal. It’s already one of my favorite lunch stops in Gainesville.” Bento currently has restaurants in Gainesville, Tallahassee, Jacksonville, Orlando, as well as South Florida. 

Johnny Tung

“We’ve been eyeing the Tampa Bay market for a few years now,” Bento Group owner Johnny Tung said. “Specifically, the downtown development boom in St. Petersburg has been amazing to watch.

“The growing business district, residential condo boom, nearby USF St. Petersburg campus, and the notable hospitals make the area a thriving market.  Bento Café will be a great addition to downtown St. Pete with affordable grab and go lunch and dinner options. We’re also looking at locations in South Tampa and USF Tampa next.”

Bento Café, which plans to open in the spring of 2018, will feature 80 seats along with outdoor sidewalk tables. A few things that have gained Bento a loyal following, and prompted further expansion include:

A vast, customizable menu including bento boxes, noodles and sushi

Quick, casual service to cater to the constantly-growing "on-the-go" population

A sleek, contemporary atmosphere modeled after popular cafes found in urban Taiwan and Japan.

Affordable prices with most dishes in the $7-$10 range, Catering offered.

Bento Asian Kitchen + Sushi is an Orlando-based quick-service restaurant serving pan-Asian cuisine. 

Its menu includes sushi, rice and noodle bowls, bento boxes, and teas.  Founded in 2002, Bento has plans of continued growth with several locations across Florida, and a team of over 400 individuals.

 X Team partner Florida Retail Partners was founded in 1997. Its Florida Retail Real Estate Specialists all have over twenty years of experience.  

The company’s focus has always been on retail tenant and landlord representation on Florida’s West Coast and Central Florida. This exclusive focus on retail includes diverse assignments ranging from tenant representation, land sales and consulting to leasing of both distressed properties in need of turnaround and upscale mixed-use projects with very specific co-tenancy parameters.

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

Johnny Tung, Bento Cafe LLC                         

Sandia Wasserman, Florida Retail Partners

407.999.8989                                               

813.251-3333

corporate@bento-group.com

sandia@floridaretailpartners.com

WoodSpring Hotels Finalizes Brand Repositioning

Gary DeLapp

WICHITA, KS, July 31, 2017—WoodSpring Hotels, the nation’s fastest-growing value extended-stay hotel company, today announced that it has begun the final process of its previously announced brand repositioning, with 171 hotels having completed the process and an additional 15 properties in the final stages.

The transition touched on virtually all aspects of the hotel, ranging from new employee uniforms and name tags to brand-wide free wireless internet access in all public spaces and guestrooms. 

All hotels also received new interior signage, in-room collateral and marketing materials, as well as new bedding and exterior signage.

“The entire rebranding process was a direct result of an enormous amount of consumer research that allowed us to target what is most important and valuable to our guests,” said Gary DeLapp, WoodSpring President and CEO.  “We now are well-positioned as the leading value, extended-stay hotel company in the country.  This allows us to better communicate the quality of our portfolio and expand our reach to new customer segments.”

To inform current and future guests of its new messaging, WoodSpring also refined its marketing efforts.  The brand’s new messaging centers on the “Suites, Kitchens and Wi-Fi, Oh My” theme through its digital components, while on-property assets encourage continued engagement by downloading its newly launched Mobile Quick Link and encouraging guests to book direct with WoodSpring.  All components, digital and otherwise, are now live.

“Now that the repositioning process has entered its final phase, we are embarking on an ambitious plan, utilizing all the marketing tools at our disposal, to get the word out to customers on the local, regional and national levels,” said Wendy Hoekwater, WoodSpring Chief Marketing Officer.

Wendy Hoekwater

 “Along with physical improvements to the hotels, we have completely upgraded and improved everything from our website to our mobile booking capabilities, all in an effort to let value-minded travelers know that we have listened to the marketplace and responded with the best product available in our space.” 

Additionally, targeted sales strategies and plans were created for each local market to convey the new changes to consumers.  On the national level, the brand launched its new website, www.woodspring.com, which included new photography guidelines, as well as making content updates across all sites, contact centers, social media guest review and consumer feedback portals.  WoodSpring also updated its phone systems and scripts.

  

“We constantly are engaging with both our guests and Franchise Partners to ensure that the WoodSpring brand provides what they want and need at a reasonable rate,” DeLapp added.  “WoodSpring helped to create the value extended-stay segment, and today we move that much closer to perfecting it.”

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

CHRIS DALY

PRESIDENT

DALY GRAY PUBLIC RELATIONS, INC.

620 Herndon Parkway, Suite 115 | Herndon, VA 20170

Main: 703-435-6293

Mobile: 703-864-5553

chris@dalygray.com | www.dalygray.com

www.woodspringfranchise.com.