George Smith Partners Arranges $101.3 Million in Financing for 374,000-SF Shopping Center in La Habra, CA

Steve Bram

LA HABRA, CA – George Smith Partners, one of the nation’s leading commercial real estate capital market advisors, has successfully arranged $101.3 million in non-recourse bridge debt for a 375,000 square-foot, 37-acre, open-air regional shopping center in La Habra, California on behalf of the property owner, DJM Capital Partners Inc.

“Dual-anchored by two top-name grocery stores, Sprouts and Smart & Final, this is a large property in the midst of a successful repositioning,” says Steve Bram, Principal/Co-Founder of George Smith Partners.

“Led by experienced and well-respected ownership, the center has attracted national credit tenants including Petco, Ulta, Hobby Lobby, Ross Dress For Less, and LA Fitness, and is situated in a prime location within the La Habra market.

"Our team at George Smith Partners was able to draw upon each of these elements to secure maximum leverage for this bridge loan.”

Bram worked on behalf of DJM Capital Partners Inc. to arrange $96.6 million in initial funding and $4.7 million in future funding for the development of a new pad at the intersection of Imperial Highway and Beach Boulevard.

The pad is pre-leased to Starbucks and Jimmy John’s. The financing will also fund a tenant improvement package for a Regal Cinema lease extension that will include a wraparound screen for the 16-screen neighborhood cinema.

“During the financing process, George Smith Partners was able to capitalize on a lease renewal signed by Smart & Final in order to achieve even more favorable terms for our firm, including non-onerous returns on reserves,” says Lindsay Parton, Principal with DJM Capital Partners.

Lindsay Parton

 “By securing financing with an extremely competitive rate and attractive terms, we are well-positioned to complete the property’s transformation into a true lifestyle center for the community and its visitors to enjoy for years to come.”

Parton adds that the loan, which replaced existing senior and mezzanine loans on the property, covered closing costs and will fund 100% of future capital expenditures, tenant improvements, and leasing commission costs associated with the final stages of the property’s stabilization.

The loan was negotiated at an interest rate of LIBOR plus 3.20%+, bringing the 24-month interest-only loan offers three 12-month options to extend and has an origination fee of 75 basis points.

Yield maintenance is 15 months and is open thereafter. Loan-to-value is 75% currently, dropping to 70% upon property stabilization, and the debt yield for the property is 7.8%.

 CONTACTS:

     

Lisa James/Jenn Quader

Brower Group

(949) 955-7940

ljames@brower-group.com      

Boston's Fairmont Copley Plaza named 2019 Historic Hotels of America Historic Hotel of the Year

Fairmont Copley Plaza Hotel, Boston, MA

Washington, DC, March 21, 2019 -- Historic Hotels of America^® is proud to announce that the Fairmont Copley Plaza (1912) in Boston, Massachusetts has been selected as the 2019 Historic Hotel of the Year.

John Singleton Copley

This prestigious award is given annually to a historic hotel that best celebrates its history in the guest experience and provides exceptional customer hospitality and service.

Stanley Turkel

To honor the 2019 Historic Hotel of the Year, the Fairmont Copley Plaza has been given the coveted placement as the featured hotel in the inside front cover of the 2019 Historic Hotels of America Annual Directory.

Henry Janeway Hardenbergh

The Fairmont Copley Plaza hotel was one of the original charter members of Historic Hotels of America when it was founded in 1989 by the National Trust for Historic Preservation.

The Fairmont Copley Plaza has been a landmark in Boston's historic Back Bay since 1912. Constructed on the original site of Boston's Museum of Fine Arts, the hotel derives its name from the great American painter John Singleton Copley (1738-1774).

Lawrence Horwitz

The photograph featured on the inside front cover of the 2019 Historic Hotels of America Annual Directory shows the gilded, coffered ceilings decorated with trompe l'oeil paintings soaring over the grand, 5,000-square-foot lobby.

Throughout the hotel there are period antiques, with particular detailing that reinforces Fairmont Copley Plaza's distinctive, refined character.

George Terpilowski

 Historian and author, Stanley Turkel, states “The Fairmont Copley Plaza is known for these industry firsts: the first completely air conditioned hotel in Boston, the first hotel with an international reservation system, and the first to accept credit cards.”

The hotel's architect, Henry Janeway Hardenbergh, combined French and Venetian Renaissance influences on the building's facade.

Lena Horne

Since he also designed The Plaza Hotel in New York, also a Fairmont Managed Hotel, he used many of the same plans for the two buildings.

 Both hotels share the famous double "P" monogram featured along the buildings’ exteriors, in the ballrooms and on doorknobs throughout the hotels.

Rudy Vallee

Hardenbergh was also the architect for The Martinique in New York City and The Willard InterContinental Hotel in Washington, DC. All four have been inducted into Historic Hotels of America.

“For more than a century, Fairmont Copley Plaza has been a symbol of Boston’s wonderful hospitality, culture, heritage, and traditions,” said Lawrence Horwitz, Executive Director Historic Hotels of America and Historic Hotels Worldwide.

Tony Bennett

“We are pleased to recognize the owners, leadership, and employees of Fairmont Copley Plaza for their stewardship of this iconic historic hotel and for increasing the recognition and celebration of its history and traditions.” 

“As a hotel that embraces its rich history every day, it is an honor for Fairmont Copley Plaza to be awarded this prestigious accolade,” said George Terpilowski, Regional Vice President, Northeast U.S. Region for Accor, and General Manager, Fairmont Copley Plaza.

Frank Sinatra

“We are proud that today’s modern traveler has an experience here very similar to visitors in 1912, and look forward to remaining the epitome of style and luxury in the city of Boston for many years to come.”

Located in Boston's historic Back Bay, Fairmont Copley Plaza stands alongside the Boston Public Library, Trinity Church, and Hancock Tower as one the architectural landmarks of Copley Square.

(Charles) Prince of Wales

Nearly every U.S. president since Taft has stayed at Fairmont Copley Plaza. Many foreign dignitaries, royalty and countless celebrities including Lena Horne, Dorothy Lewis, Rudy Vallee, Frank Sinatra, the Prince of Wales, Tony Bennett and Luciano Pavarotti have also graced this Boston hotel. 

To download a copy of the 2019 Historic Hotels Annual Directory, visit www.HistoricHotels.org/Directory.

Luciano Pavarotti

About Historic Hotels of America^®

Historic Hotels of America is the official program of the National Trust for Historic Preservation for recognizing and celebrating the finest Historic Hotels. 

The Martinique Hotel, New York, NY

Historic Hotels of America has more than 300 historic hotels. These historic hotels have all faithfully maintained their authenticity, sense of place, and architectural integrity in the United States of America, including 44 states, the District of Columbia, the U.S. Virgin Islands, and Puerto Rico. 

Historic Hotels of America is comprised of mostly independently owned and operated historic hotels. More than 30 of the world’s finest hospitality brands, chains, and collections are represented in Historic Hotels of America. 

The Willard Intercontinental Hotel lobby, Washington, DC

To be nominated and selected for membership into this prestigious program, a hotel must be at least 50 years old; has been designated by the U.S. Secretary of the Interior as a National Historic Landmark or listed in or eligible for listing in the National Register of Historic Places; and recognized as having historic significance.

For more information, please visit HistoricHotels.org. 

CONTACT:         

 Heather Taylor

Historic Hotels of America       

 Senior Manager, Marketing Communications      

Tel: +1 202 772 8333   Fax: +1 202 772 8338

htaylor@historichotels.org

Hold-Thyssen closes on New Leases for a Theatre Company, Granite Tools Supplier, Wedding and Event Company at Edgewater Commerce Center in College Park district, Orlando, FL

Edgewater Commerce Center, 6250 Edgewater Drive,
College Park Area, Orlando, FL

ORLANDO / WINTER PARK --- Hold-Thyssen, Inc., a full-service commercial property firm based in Winter Park, recently negotiated three new long-term leases for a total of 13,200 rentable square feet at Edgewater Commerce Center in the College Park area of Orlando at 6250 Edgewater Drive. 

Alex Rowlinson

The Hold-Thyssen leasing team of Alex Rowlinson and Troy Stevens represented the owner/landlord of the commerce center, Miami-based Edgewater Commerce Center LLC.  

The new tenants include:

The Container Center for Performing Arts leased 9,200 square feet of retail/flex space for five years.   The theatre company will bring musicals and other performances to the Orlando area.

Web Granite Supplies, Inc. who sells granite cutting and other hardware products, leased 2,400 square feet of flex space for five years. 

Fiora Designs, Inc. a wedding and event company that specializes in design, production and execution of weddings, has leased 1,600 square feet of flex space for three years.

Troy Stevens

The new businesses brought Edgewater Commerce Center ’s occupancy up to 85 percent. 

Hold-Thyssen, Inc. provides commercial property brokerage, 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 .

 CONTACTS:

           

Anthony Fisher, Vice President, Hold-Thyssen Inc., 

407-691-0505, afisher@HoldThyssen.com

Robert P. Hold, Principal, Hold-Thyssen, Inc., 

407-691-0505, bhold@HoldThyssen.com

Beth Payan, Larry Vershel Communications Inc. 

407-644-4142 Lvershelco@aol.com or beth@larryvershel.com  

Central Florida Commercial Association of Realtors Presents Annual Hallmark Awards April 24 at Orlando Marriott Lake Mary, Lake Mary, FL

Paul Partyka

ORLANDO, FL -- The annual Hallmark Awards presented by the Central Florida Commercial Association of Realtors (CFCAR) are returning.  The awards luncheon will be held April 24 at the Orlando Marriott Lake Mary , 1501 International Parkway .  Turnout is expected to be high, so register today!

The 2019 Hallmark Awards will honor the top commercial real estate producers for 2018.  Make note that the eligibility rules have changed, and the awards are open to all commercial real estate producers.

You do not have to be a member of CFCAR to qualify. The objective is to honor the best commercial producers in the 10-county Greater Central Florida region.

Awards will be given for top producers of each major industry segment, overall production for each county and the region as a whole. The firm that fields the most winners will also be recognized, so teams are encouraged to register.

Orlando Marriott Lake Mary Hotel, Lake Mary, FL

“The Hallmark Awards serve as an inspiration to the next generation of commercial real estate professionals entering the business,” explains Paul Partyka, Hallmark Awards Chairman and President-Elect of CFCAR.  “They will have an opportunity to see the best of the best on stage and to hear about their outstanding transactional accomplishments.”

Additionally, special awards will be presented to individuals for Community Service, for Top Affiliate and the Wilber Strickland Lifetime Achievement Award.

Do you have what it takes?

For more information, please visit www.CFCAR.net or call 407-816-7368

Contact:

Paul P. Partyka, CCIM, CFCAR Hallmark Awards Chairman, The Partyka Group at NAI Realvest 407-341-0805 ppartyka@realvest.com

Florida CCIM Chapter Presents Commercial Real Estate Lending Panel Mar. 28 at Bear Lakes Country Club, West Palm Beach, FL

CONTACT:

Gregory Laskody, CCIM
 greglaskody@gmail.com

Grover Corlew Acquires Hillsboro Center in Deerfield Beach, FL for $32.5 Million

Hillsboro Center, 600 West Hillsboro Boulevard,
 Deerfield Beach, FL

DEERFIELD BEACH, FL – Grover Corlew, a South Florida-based real estate investment management group, has acquired the 216,101-sq.-ft. Hillsboro Center in Deerfield Beach, Florida for $32.5 million.

Anuj Glover

Hillsboro Center includes a six-story, 116,250-sq.-ft. Class A office tower at 600 West Hillsboro Blvd. and four two-story office buildings with 99,851 sq. ft. at 700 West Hillsboro Blvd.

The buildings are centrally located in an established and busy business corridor at the southeast corner of Hillsboro Boulevard and I-95 and are close to retail, dining and lodging establishments.

“We specialize in transforming centrally located suburban office properties into revitalized spaces that meet the needs of today’s businesses,” said Partner Anuj Grover.

“Hillsboro Center is well positioned in a growing area of Deerfield Beach. Our proximity to I-95, U.S. 1 and the Dixie Highway flyover bridge connecting the city to Boca Raton makes Hillsboro Center a prime, easily accessible location.”

Buildings in Hillsboro Center offer flexible floor plans, 5:1,000 free surface parking, on-site management and security, lushly landscaped walkways, courtyard sitting areas, a tranquil pond, waterfalls and an on-site café.

Mark Corlew

 Hillsboro Center is currently 90 percent leased with such notable tenants as Dart Container Corporation, Humana and Old Republic National Title Company.

The area surrounding Hillsboro Center is bustling with activity. Just west of Hillsboro Center, JM Family Enterprises is undergoing a $150 million renovation and expansion of its headquarters campus and Ram Realty Advisors is building Deerfield Station, an apartment complex with retail space.

“Hillsboro Center is a tremendous long-term investment for us,” said Partner Mark Corlew, whose group focuses on acquiring, developing and operating office, retail and multi-family properties across the Southeastern U.S. “This high-end complex fits in perfectly with our portfolio of signature office properties.”

The acquisition of Hillsboro Center boosts Grover Corlew’s total Florida commercial portfolio to two million sq. ft.  Cushman & Wakefield represented the seller in the transaction.

 CONTACTS:

Samantha Van Nuys

O: 954.776.1999  ext. 115 |C: 954.648.9132

6451 North Federal Highway, Suite 1200 |Fort Lauderdale, Florida 33308

HFF announces $25.5 million financing for acquisition of New York-area power center

Woodbridge Crossing Power Center, Woodbridge, NJ

MORRISTOWN, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged $25.5 million in acquisition financing for Woodbridge Crossing, a 285,2110-square-foot power center located in the central New Jersey community of Woodbridge, New Jersey.

The HFF team worked on behalf of the borrower, PAG Investments, to place the five-year, fixed-rate loan with Citizens Bank. 

Michael Klein

Woodbridge Crossing was completed in 2001 and recently renovated in 2018.  Nearly 80 percent leased, the center is home to a variety of national and regional tenants, including Burlington Stores, Big Lots, Planet Fitness, Altitude Trampoline Park, Modell’s, Party City, Thomasville, Sprint, Miracle Ear and FedEx Office. 

 Situated on 19.09 acres at 451-479 Green Street in one of New Jersey’s prime retail corridors, Woodbridge Crossing is in the North Edison/Woodbridge Retail submarket adjacent to the intersection of U.S. Routes 1 and 9, exposing the center to approximately 85,000 vehicles per day. 

The center is in Middlesex County, the second most populated county in the state, and more than 136,700 residents earning an average annual household income of $93,207 live within a three-mile radius of the center.

The HFF debt placement team representing the borrower included managing director Michael Klein and managing director Rob Hinckley.

Rob Hinckley

“HFF is pleased to have helped PAG Investments secure financing once again,” Klein said.  “PAG had a unique opportunity to acquire a value-add retail center in one of the state’s primary retail corridors.  

"In a short time, PAG Investments will be able to execute its business plan and stabilize the center.” 

Citizens’ Commercial Real Estate team provides project finance loans across various strategies and is focused on building long-term relationships with strong commercial real estate sponsors. 

Citizens provides loans for multifamily, office, retail, industrial and hospitality properties, lends on acquisition and refinancing opportunities, development, stabilized and value-add strategies and on bridge and term basis.

 More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.

  

CONTACTS:

MICHAEL KLEIN

HFF Managing Director

(973) 549-2000

mklein@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

Marcus & Millichap Brokers $7 Million Land Sale in Lakeland, FL

Paul Bouldin

LAKELAND, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Lakeland Plant Property, 26.03-acres of industrial land located in Lakeland, Fla., according to Grant Fitzgerald, sales manager of the firm’s Tampa office. The asset sold for $7,000,000.

Paul Bouldin, an investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. 

Lakeland Plant Property is located at 4500 Frontage Road South in Lakeland, Fla and is situated by I-4 and Polk Parkway.  The property offers convenient access to both Tampa and Orlando, Fla.

Contact:

Grant Fitzgerald

Regional Manager

 Tampa, FL

(813) 387-4700

HFF arranges $21 million refinancing for prime mixed-use downtown San Mateo, CA property

Chris Gandy

SAN FRANCISCO, CA  -– HFF announces that it has arranged a $21 million refinancing for Baywood, a 27,897-square-foot, Class A+ creative office and retail asset in downtown San Mateo, California.

HFF worked on behalf of the borrower, developURBAN, a private developer, to arrange the 10-year, fixed-rate, full-term, interest-only loan with Citigroup.  

Loan proceeds will be used to refinance the existing debt HFF arranged in 2017 that was used to reposition and transform the former Class B property into a best-in-class, Class A+ mixed-use building.  

Improvements included a transformative façade remodel; a new third-floor addition, elevator and office lobby; and the creation of multiple outdoor patios, among other significant improvements.  

Fully leased, Baywood is home to the technology arm of a publicly listed company, with the ground-floor office space leased to a data analytics firm and the retail space leased to the nation’s largest yoga chain.  

Taylor Gimian

Baywood is an adaptive re-use of a 1930s-era movie theater repurposed as a best-in-class creative office.  

Baywood, which is currently undergoing LEED certification, boasts tremendous natural light through a new modern façade, a more-than-30-foot-high living wall, numerous indoor/outdoor patios, secured bike parking and 25-foot ceiling heights.  

Situated on 0.2 acres at 333-345 S. B Street, the property is less than three blocks from the San Mateo Caltrain station and is surrounded by downtown San Mateo’s retail, dining and entertainment amenities.

The HFF debt placement team representing the borrower consisted of senior director Chris Gandy and analyst Taylor Gimian.

“The sponsor has done a tremendous job repositioning the property, as evidenced by the strong tenant demand for the building and ability to achieve some of the highest rents seen in the downtown sub-market,” Gandy said.  "The property's proximity to a baby bullet CalTrain station and to the abundant retail amenities offered in downtown are irreplaceable." 

Holliday GP Corp. (“HFF”) is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

CONTACTS:

CHRIS GANDY

CA Lic. #01899208

HFF Senior Director

(415) 276-6300

cgandy@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

Skye Suites to open in Green Square's Most Iconic Building in Sydney, Australia

Skye Suites, Green Square, Botany Road and Bourke Street
 Sydney, Australia

Sydney, Australia, Mar. 20, 2019 --  Crown Group will open its third luxury serviced apartment hotel, SKYE Suites Green Square, mid-year as part of the iconic $575 million development Infinity by Crown Group, which is shaping up to be Sydney’s most sought-after place to live, play and stay.

 Designed by globally renowned Koichi Takada Architects, Infinity by Crown Group will have 326 premium apartments, a convention centre, a new retail and dining precinct with 20 outlets, a beautiful 90-room hotel called SKYE Suites Green Square and a Woolworths supermarket nearby.

The 20-storey building has captured the public’s attention with its iconic looped design, situated on the corner of Botany Road and Bourke Street. 

Skye Suites exterior

The development forms part of the $13 billion Green Square redevelopment that has transformed the town centre into an exciting new destination and will add a new train station and aquatic centre.

 There is also the stunning public library that opened last year, where hotel guests can enjoy co-working or studying in the light-filled below-ground atrium.

Hotel guests will enjoy direct access to Green Square train station and being just one stop from the city, and only a few minutes’ drive from Sydney airport.

SKYE Suites Green Square will enjoy 90 luxurious studio, one- and two-bedroom apartments with Kevin Murphy toiletries, complimentary mini-bar and the ability to choose individual mattress firmness on each side of the bed. 

Skye Suites poolside

There will also be keyless entry and ‘virtual concierge’ tablets in every suite for guests to access all hotel services. A STARCast system will enable guests to stream in-room entertainment from personal devices.

Crown Group Director of Hotels and Suites Wayne Taranto said SKYE Suites were renowned for being situated in new buildings with iconic architecture, sophisticated interiors and for delivering bespoke service with attention to detail.

“At SKYE Suites, we endeavour to differentiate ourselves by offering creative and inspirational spaces to our guests, making their stay comfortable, enjoyable and memorable,” he said.

Wayne Taranto

“SKYE Suites is redefining the boundaries of the luxury hotel experience with the seamless combination of the atmosphere of an urban resort, the convenience and comfort of an apartment and the amenities of a hotel.”

The first SKYE Suites opened in August 2017 at Parramatta, with 72 stylish hotel apartments offering Crown Group’s signature resort facilities including an outdoor pool, gym and expansive foyer. 

It also has conference rooms, vibrant alfresco dining, retail piazza and the chic rooftop cocktail bar Nick and Nora’s by Speakeasy Group. The hotel is situated within the award-winning V by Crown Group residential tower, designed by Allen Jack + Cottier and Koichi Takada Architects.

Koichi Takada

The second SKYE Suites opened in Sydney in November 2018, a beautiful new destination in an iconic building on Clarence Street, Sydney.

 The hotel offers a luxury experience in the heart of the city, within the 25-storey residential apartment tower Arc by Crown Group, also designed by Koichi Takada Architects. SKYE Suites Sydney has 73 well-appointed hotel apartments and features an ice cave-themed lobby, “Insta-worthy” indoor swimming pool and a gym. 

Crown Group Holdings (Crown Group) is a leading Australian property group specialising in property development, property investment and serviced apartments. The company was co-founded by architect Mr. Iwan Sunito and engineer Mr. Paul Sathio with its first project in 1996.

Crown Group has successfully completed major developments in Sydney’s best locations including Bondi, Bondi Junction, Parramatta, Ashfield, Epping, Homebush, Newington, Pennant Hills and Rhodes and most recently the 25-storey Arc by Crown Group in Sydney CBD.

Crown Group launched its first SKYE Hotel Suites in Parramatta in August 2017 and SKYE Suites Sydney in October 2018.

 CONTACT:

Hwee Peng Yeo

Executive 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

131 Varick Street, Suite 1001 • New York, NY • 10013

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

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

www.GlodowNead.com

杨慧萍

执行副总裁

博德纳公关咨询公司

Centennial Tower 21层，Temasek Avenue 3号， 新加坡邮区039190

上海湖滨路222号企业天地一号15层，中国邮编20021

E: hweepeng@glodownead.com

www.GlodowNead.com

www.crowngroup.com.au/industry-recognition/
www.crowngroup.com.au

For more information and to book a stay, please visit http://www.skyehotels.com.au or contact us by email: info@skyehotels.com.au.

Images & video

https://www.dropbox.com/sh/wmwfnpyf4k1zrvt/AAAlRvooSnx6Sa5nkV6V5N_Ga?dl=0