HFF announces $16.69 Million in joint venture equity for Sarasota, FL seniors housing development

Sarah Anderson

DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announces $16.699 million in joint venture equity for the development of Grand Living at Lakewood Ranch, a best-in-class, 172-unit resort-style seniors housing community in the Lakewood Ranch area of Sarasota, Florida.

The HFF team worked on behalf of the developer, Ryan Companies, US Inc., to arrange a joint venture equity partnership with Eagle Realty Group, LLC.

David R. Fasano

Grand Living at Lakewood Ranch will be situated on 5.02 acres at 7230 University Parkway in the 8,500-acre Lakewood Ranch master planned community. 

The resort-style community will comprise 82 independent living units, 56 assisted living units and 34 memory care units totaling 124,463 rentable square feet. 

 The independent and assisted living component will feature luxury finishes, including stainless appliances, granite countertops, in-unit washers and dryers, faux wood plank flooring, balconies and fireplaces. 

Community amenities will include a variety of dining options; clubroom with fireplace, bar and liquor lockers; grand lounge area; library; performance theater; and wellness spa and fitness area featuring an outdoor pool, state-of-the-art fitness equipment, yoga and group fitness room, salon and massage/exam rooms for rotating wellness providers. 

Ryan Maconachy

 The Memory Care Commons will offer a secure courtyard, lounge and living room along with a dedicated kitchen and dining venue.  Completion is expected in 2019.

The HFF team representing the developer included senior director David Fasano, director Sarah Anderson and senior managing directors Ryan Maconachy and Chad Lavender.

Founded in 1938, Ryan Companies offers comprehensive commercial real estate services as a national developer, architect, capital investment consultant, builder and real estate manager with a focus on bringing lasting value to its customers and the communities in which it works. 

Ryan’s market depth includes retail, industrial, healthcare and senior living.  Ryan development and corporate build-to-suit work spans a wide range of product types, including office, mixed-use, hospitality, multifamily housing and student housing.

Chad Lavendar

  Ryan has nearly 1,300 employees in 13 offices across the U.S. and has completed projects in 38 states.  For more information, visit: ryancompanies.com.

 For more information, please contact:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

Blackhawk Properties & Investments Breaks Ground on 550 Building and SOLO Shoppes in Downtown Fort Lauderdale, FL

  

Joseph Byrnes

FORT LAUDERDALE, FL –Blackhawk Properties & Investments, LLC has started construction at 550 S. Andrews Ave. in downtown Fort Lauderdale.

Upon completion in the spring of 2019, the property will consist of the 550 Building and SOLO Shoppes, a 95,532-square-foot, seven-story tower with six floors of office space and 7,500 square-feet of restaurant and patio space on the ground floor.

Featuring an attached parking garage with more than 600 spaces, the class-A building will be the first new office building in downtown Fort Lauderdale’s South of Las Olas (SOLO) District since 1989.

“The 550 Building will be a great addition to an area that is burgeoning with residential development and lacking in modern office, retail and restaurant space,” said Joseph Byrnes, a senior vice president with Berger Commercial Realty/CORFAC International, the exclusive leasing and property management firm for the 550 Building.

“Several office tenants and restaurant operators have been monitoring the progress of the project and are actively speaking with us to advance their plans for occupancy.”

Jim Naugle

Formerly home to the Justice Building, the site was purchased by Blackhawk Properties for $3.6 million in 2013. In 2016, Blackhawk acquired the neighboring site, previously owned by former Fort Lauderdale Mayor Jim Naugle, to accommodate the parking garage and SOLO Shoppes.

The lot is adjacent to the Broward County Judicial Complex at the northeast corner of Andrews Avenue and S.E. 6th Street, which boasts one of the highest pedestrian traffic counts in Broward County.

  

Developers of the 550 Building include Thomas McDonald, Kate Murphy of Collins Capital Partners and William Murphy of Douglas Management. The 550 Building is designed by the award-winning architectural firm of Falkanger, Snyder, Martineau and Yates (FSMY).

Along with Byrnes, Senior Vice President Steve Hyatt is serving as the property’s exclusive leasing agent.

For more information about leasing at the 550 Building, contact Berger Commercial Realty at 954-358-0900.

 For more information, please contact:

Lexi Robinson

954-776-1999, ext. 255

lrobinson@piersongrant.com

www.corfac.com

www.bergercommercial.com

HFF announces sale of regional power center in Sioux City, Iowa

Amy Sands

CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Lakeport Commons, a 282,708-square-foot, open-air regional power center in Sioux City, Iowa. 

Completed in 2005, Lakeport Commons is 92 percent leased and home to national category-leading retailers, including Gordmans, Best Buy, Staples, Michaels, PetSmart, Old Navy, Party City, Shoe Carnival and Dress Barn. 

Jules Sherwood

 Additionally, Kohl’s shadow anchors the property, and the Southern Hill Mall, which is the only enclosed regional shopping mall within 85 miles and attracts more than six million shoppers annually from three states, is adjacent to the center. 

The power center is located at 5101 Sergeant Road at the intersection of U.S. Highway 20 and Sergeant Road, which has combined traffic counts of 32,000 vehicles per day.

  Lakeport Commons serves an expansive trade area holding 127,297 people within 15 miles, and more than 55,950 residents earning an average annual household income of $64,642 live within a five-mile radius of the center.

The HFF team marketed the property for the seller, InvenTrust Properties Corp.  The R.H. Johnson Company purchased the asset. 

The HFF investment advisory team representing the seller included senior directors Amy Sands and Clinton Mitchell and managing director Jules Sherwood, a licensed Iowa real estate broker.

Clinton Mitchell

Founded in 1992, The R.H. Johnson Company is recognized as a market leader in retail real estate services throughout the Midwest. 

 The R.H. Johnson Company owns, manages and leases numerous retail properties in the Midwest, including power centers, grocery-anchored suburban properties, single tenant buildings and mixed-use projects.

The R.H. Johnson Company is a member of Chainlinks Retail Advisors, a nationwide organization which facilitates expansion, disposition, relocation and repositioning efforts throughout the United States and Canada. 

 For more information, please contact:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

http://rhjohnson.com

Marcus & Millichap Promotes Justin W. West to Vice President and Regional Manager for Orlando and Jacksonville, FL Markets

Justin W. West

ORLANDO, FL and  JACKSONVILLE, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has elected Justin W. West vice president of the Orlando and Jacksonville offices. 

“Justin brings extensive knowledge and experience to the position of vice president gained from his time as a successful sales agent and in his tenure in management roles with the firm,” says Bryn Merrey, Marcus & Millichap’s senior vice president and division manager of the Mid-Atlantic and Southeast region. “He is and will continue to be a great resource for our clients and agents in both offices.”

Bryn Merrey

Mr. West joined the firm in February 2010. After serving as a successful office and industrial agent in Central Florida, West joined the management team in 2013 as the Regional Manager of the Orlando office.

Prior to joining Marcus & Millichap, Justin was Managing Partner at West Commercial Real Estate Advisors. He began his real estate career with Duke Realty Corporation as a leasing and development representative for the Orlando Office Group.

  
West is a graduate of Rollins College, Winter Park, FL, with a bachelor’s degree in organizational communication. In his spare time, West currently serves on the University of Florida Bergstrom Real Estate Advisory Board, the University of Central Florida Real Estate Board, Programs Committee Member for NAIOP Central Florida, volunteer Coach for ST. Luke’s Youth Basketball and Coach for Winter Garden Little League.

 For more information, please contact:
 
Ocea Huggins
Operations Manager – Orlando and Jacksonville Marcus & Millichap
300 South Orange Avenue
Suite 700
Orlando, FL 32801
(407) 557-3840 directwww.MarcusMillichap.com
(407) 557-3800 main
(407) 927-0313 mobile
(407) 557-3810 fax
ocea.huggins@marcusmillichap.com
Follow us on:        NYSE: MMI

HFF announces €110MM financing for the acquisition and redevelopment of Ikos Andalusia in Costa del Sol, Spain

Edward Daubeney

LONDON, ENGLAND –– HFF Real Estate Limited (HFF) announces the €110 million first mortgage financing for the acquisition and redevelopment of Ikos Andalusia, a 400-key, luxury seafront resort in Andalusia’s coastal area of Estepona, Spain.

The HFF team worked on behalf of the borrower, Ikos International, to place the five-year, floating-rate loan with Starwood European Finance Partners Limited, an affiliate of Starwood Capital Group.

Loan proceeds will be used to acquire an existing hotel and institute a property improvement plan that includes reconstructing and refurbishing all existing hotel rooms, enhancing the arrival and lobby experience, expanding and repurposing the public spaces and rebranding the asset to the Infinite Lifestyle concept of the Ikos Resorts brand.

Andreadis Andreas

Created only three years ago, Ikos Resorts is an innovative owner-operator of luxury all-inclusive resorts throughout the Mediterranean that currently manages two operating properties in Greece with two others being delivered in May 2018 and May 2019, respectively. 

 Ikos Resorts’ existing properties, Ikos Oceania and Ikos Olivia, have been ranked No. 1 and No. 3 best all-inclusive resorts in the world in 2017 according to TripAdvisor and are also ranked as the top two all-inclusive resorts in the Mediterranean.  Ikos Andalusia, which will be the fifth hotel within the Ikos Resorts’ platform, is the venture’s inaugural resort in Spain. 

The HFF debt placement team representing the borrower included director Brad Greenway and managing director Edward Daubeney.

Mathieu Guillemin

“As HFF continues to strategically grow our platform across Western Europe with the completion of our first transaction in the Spanish market, we have been fortunate to work in partnership with best-in-class owners and operators of commercial real estate,” Greenway said. 

“Ikos Resorts are market leaders within the hospitality space in Europe, and HFF is very excited to be a part of their continued global growth,” Daubeney added.

“HFF has supported us very effectively at a decisive moment in our development,” said Andreas Andreadis and Mathieu Guillemin, managing partners of Ikos International.  “They have assisted us in raising competitive and flexible financing with Starwood whom we believe will be a strong long-term partner throughout our future developments.”

 For more information, please contact:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

Hold-Thyssen Completes New Multi-Year Lease Agreements at West Orlando Retail Centers

N. Joelle Forster

Martin Forster

Orlando / Winter Park, FL - Hold-Thyssen, Inc., a full service commercial real estate services firm based in Winter Park, recently negotiated two new lease agreements at retail centers on Silver Star Rd. and W. Colonial Drive in West Orlando totaling 7,759rentable square feet.

Hold-Thyssen Leasing Associate Alex Rowlinson brokered a lease on behalf of the south Florida investor / landlord at 5396 Silver Star Rd.  The new tenant leasing 6,507 square feet of space is City Reach Orlando, a ministry and Christian outreach group.  

The Hold-Thyssen leasing team of Martin Forster CCIM and N. Joelle Forster represented Landlord New Orlando Team Corp in the lease of 1,252 square feet at 6801-6897 W. Colonial Drive in the Hiawassee Plaza.  The new tenant is Inspire Christian Academy.  

Alex Rowlinson

Hold-Thyssen provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States.

 For more information, please contact:

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

AEI Consultants Completes Campus-Wide Facilities Assessment for University of Alabama

University of Alabama campus, Tuscaloosa, AL

            Tuscaloosa, AL – AEI Consultants, a leading commercial real estate assessment and consulting firm, has completed a full facilities condition assessment on the University of Alabama campus, consisting of 168 buildings totaling more than 10 million square feet of institutional properties. The campus-wide project includes academic teaching and office facilities, residential dormitories, and operational buildings as well as sports stadiums and complexes.

            The educational institution, which is ranked among the top 60 public universities in the nation, retained AEI to assess and analyze the entire campus and deliver an in-depth capital improvement plan for the university.

            “The higher education landscape continues to demand renovations and improvements that align with today’s innovations in learning and campus life,” says Holly Neber, CEO of AEI Consultants. “The challenge for higher education is how to prioritize and budget for capital investment in their facilities and infrastructure. This is the value that AEI is able to deliver.

Holly Neber

         "By partnering with the University of Alabama in this assessment, we were able to generate an extensive capital needs plan comprised of estimated costs for necessary investment in facility assets that are categorized by importance.”

The facility condition assessments cover not only the condition of building systems, but also includes the bar coding of key building operation equipment in each building. Each public access building is also reviewed for ADA compliance. AEI also offered energy enhancement recommendations for building envelope and building systems for the university to consider.

            This prioritization will be essential in the implementation of a campus-wide strategic improvement plan, according to Neber, who notes that AEI will work closely with the university to launch and implement this plan in 2018.

            This will allow the university’s facilities department to coordinate system critical budget priorities with the university’s governing bodies to provide funding for these strategic initiatives.

Kyle Christiansen

            “The key to asset management for university campuses is identifying critical needs for immediate repair as well as outlining specific timeframes regarding system refurbishment, replacement, or upgrade,” says Kyle Christiansen, Vice President – Capital Planning at AEI. “By investing first in a comprehensive asset assessment and capital plan, the University will be able to save costs and increase efficiency over the life of their facilities.”

                       AEI’s full facilities condition assessment and capital plan will be complete in July 2018. 

For more information, please contact:

Jordan Kruk / Elisabeth Manville

Brower Group

(949) 955-7940

jkruk@brower-group.com

aeiconsultants.com.

PRISA Group and Peachtree Hotel Group Announce Grand Opening of 175-Room AC Hotel by Marriott Tampa/Airport – Westshore

AC Hotel by Marriott Tampa/Airport – Westshore

                TAMPA BAY, FL — Officials of the PRISA Group, a family-owned developer, builder and owner of hospitality, resort and entertainment projects in Puerto Rico and Florida, together with its capital partners Peachtree Hotel Group and Argosy Real Estate Partners,  announced the grand opening of the newly constructed, 175-room AC Hotel by Marriott Tampa/Airport – Westshore. 

PRISA developed the hotel, with Peachtree and Argosy acting as additional equity investors in the project.  Marriott Corporation will operate the hotel.  The construction was conducted by a partnership between PRISA Group and Orlando-based Welbro Building Corporation.

 The Miami-based offices of Popular Community Bank provided the debt financing.

Federico Stubbe

“This marks the first of three Marriott-branded hotels we are opening in Florida, including an under-construction, dual-branded SpringHill Suites/Residence Inn in Orlando at the Mall of Millenia, and we remain bullish on the market,” said Federico Stubbe, PRISA president and CEO. 

 “We now own the newest, design-focused, lifestyle product on the market, a key driver for both business and leisure travelers who want something beyond the ‘typical’ hotel stay. 

"As a company, we focus on delivering best-in-class, quality hotels in their respective segments while innovating in architecture, art and interior design relative to the brands we represent.

"With its European flair and emphasis on high quality accommodations, amenities, food and beverages, we are confident the AC Hotel by Marriott Tampa/Airport-Westshore quickly will become the place to see and be seen for visitors and locals alike.”

For more information, 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.prisagroup.com.

http://peachtreehotelgroup.com 

HFF announces sale of full-service hotel in Northern Virginia

Sheraton Reston Hotel, Reston, VA

WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Sheraton Reston Hotel, a 298-room, full-service hotel in a growing submarket in the Washington, D.C. suburb of Reston, Virginia. 

The HFF team marketed the property on behalf of the seller.  DoveHill Capital Management purchased the hotel unencumbered by an existing management agreement.  Wurzak Hotel Group will manage the hotel.

Originally opened in 1973, the six-story Sheraton Reston Hotel was substantially renovated in 2014 to upgrade the guestrooms and 22,000 square feet of meeting space, renovate the restaurant lounge, update the lobby to incorporate a grab-and-go food and beverage market and expand the club lounge. 

Additional hotel features include the Syrah Restaurant and Cosmopolitan Lounge, a state-of-the-art fitness center, outdoor pool with sun deck, business center and views of the adjacent Reston National Golf Course. 

Situated at 11810 Sunrise Valley Drive, the hotel is in Reston, the second largest office market in Fairfax County, and in the heart of the Reston Master Plan, which consists of 22,000 new residential units, more than eight million square feet of new office space and 700,000 square feet of retail. 

Cyrus Vazifdar

The hotel is highly visible from one of the most heavily trafficked thoroughfares in Northern Virginia directly off the Dulles Roll Road one mile to the Wiehle-Reston East Metrorail Station (Silver Line), which connects the hotel to the entire D.C. MSA.

The HFF investment advisory team representing the seller included senior director Cyrus Vazifdar.

“Reston’s growth has been prolific over the past cycle, and we expect the market to continue to mature with the tremendous scale of current development,” Vazifdar said.  “Reston’s existing hotel stock will benefit greatly from the market’s continued evolution.”

For more information, please contact:

 KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

   www.dovehillcos.com.                                 

http://www.wurzakhotels.com.