HFF announces sale of luxury apartment community in St. Charles, IL

Prairie Winds of St. Charles, a 250-home, luxury townhome-style apartment community in the Chicago suburb of St. Charles, IL

CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Prairie Winds of St. Charles, a 250-home, luxury townhome-style apartment community in the Chicago suburb of St. Charles, Illinois.

Sean Fogarty

HFF marketed the property on behalf of the seller, Executive Capital Corporation.  TLC Management Co. purchased the offering for an undisclosed amount.

Prairie Winds of St. Charles is located at 2600 Prairie Winds Drive in St. Charles, which has been named Illinois’ No. 1 city for job growth by WalletHub. 

The community is approximately 40 miles west of downtown Chicago and offers nearby access to award-winning schools, leading healthcare options, premium shopping, upscale dining, outdoor recreation amenities and multiple top international and regional employers. 

 Completed in 2018, floor plans comprise a mix of one-, two- and three-bedroom townhome-style units averaging 1,254 square feet.  

Marty O'Connell

Homes feature condo-quality amenities, including gourmet kitchens, designer lighting packages, living room fireplaces, garden soaking tubs, walk-in closets, high ceilings, oversized private balconies or patios, full-size washers and dryers, and heated attached one- and two-car garages.  

Community amenities include manicured nature trails and a fish pond, outdoor resort-style pool, outdoor kitchen with grilling stations, fire pit, bark park, children’s playground, clubhouse with lounge seating and fireplace, billiards room, indoor lap pool, state-of-the-art fitness center with personal training services, and multiple conference rooms.

The HFF investment advisory team included managing directors Sean Fogarty and Marty O’Connell, senior director Wick Kirby, director Kevin Girard and analyst Kyle Butler.

About Executive Capital Corporation

Executive Capital Corporation, a wholly owned subsidiary of Executive Affiliates, Inc., performs real estate acquisition and disposition, as well as financing for the Big Rock Group of Companies.

Wick Kirby

Over the last 20 years, ECC has been involved in numerous real estate transactions valued at more than a billion dollars.  ECC is well positioned for opportunities to continue its pattern of growth into the future. 

About TLC Management Co.

TLC Management Co. is a Chicago-based company that exclusively owns and operates each of its buildings. 

 TLC is the largest single owner of apartment buildings in the Chicagoland area with 5,250 units in 16 sub-markets spread all over Chicago and Suburbs.

Kevin Girard

CONTACTS:

WICK KIRBY

IL Lic. #475.117916

HFF Senior Director

(312) 980-3611

wkirby@hfflp.com

OLIVIA N. HENNESSEY

HFF Public Relations Specialist

(713) 852-3403

ohennessey@hfflp.com

https://bigrockgroup.company/executive-capital-corporation.html

233-Room Le Meridien Hotel Planned in Arcadia, CA

Rendering of planned 233-room, $43.5 million Le Meridien Hotel 
in Arcadia, CA

Arcadia, CA, June 10, 2019 –Davis Hotel Capital, Inc., a premier hotel investment banking and mortgage brokerage firm with a focus on hospitality real estate, and National Property Inc., a California-based advisory and development company, today announced the companies have arranged construction financing of $43.5 million for the development of a 233-key Le Meridien Hotel in Arcadia, Calif.  The developer of the project is SAICP LLC.

Geoff Davis

Geoff Davis, senior principal of Davis Hotel Capital, and Robb MacMillan, president of National Property Inc., collaborated on the placement. 

The hotel conveniently will be located adjacent to Santa Anita Park, the Westfield Arcadia Mall and proximate to numerous growing areas, such as Pasadena.

“Patience, creativity and flexibility, particularly on the lender and developer’s parts, helped make this project a reality,” stated MacMillan. 

Added Geoff Davis, “It was a complex capitalization, involving a senior lender and an EB-5 component, but when it is all said and done, this is going to be an amazing hotel that the community will be proud to welcome.”

About Davis Hotel Capital (DHC): DHC is a boutique hotel advisory firm specializing in placing debt, structured finance and equity for hotel owners, as well as providing investment sales brokerage services and direct investment in various hotel projects. DHC is based in Denver, Colorado, with offices in New York and Washington D.C.

For addition information on the property, please contact:

Robb MacMillan  President 858.692.7178 robb@natlpropllc.com

Geoff Davis  Senior Principal 720.289.4513  gdavis@dhotelcap.com

Chris Daly

(703) 435-6293

chris@dalygray.com

Top Performers Honored at 2019 Marshall Hotels & Resorts Leadership Conference

Mike Marshall

SALISBURY, MD,  June 10, 2019—Marshall Hotels & Resorts, a leading hotel management and services company that operates properties nationwide, today announced its top-performers from the 2019 Marshall Hotels & Resorts Leadership Conference held at the Holiday Inn Lancaster in Pa.

“One of the highlights of my position is commending our associates for all of the diligent work they accomplish throughout the year," said Mike Marshall, president and CEO, Marshall Hotels & Resorts. 

Peter Donnelly

"As cliché as it sounds, we are nothing without our hardworking team. Through their tireless efforts, Marshall has grown from 55 to 65 hotels since our last conference.  

"The Marshall Hotels & Resorts Leadership Conference is the ideal arena for us collectively to take a moment and pat one another on the back, and to credit our top performing individuals and hotels.”

Jenifer Prokofiew

The event’s two most prestigious awards, the Charles L. Marshall Property Excellence Award and the Charles L. Marshall Excellence Award, are named after the company’s founder.  

The property excellence award winner is based on a combination of consistent leadership in market penetration, low employee turnover and year-over-year growth in both revenue and profits. 

George Metz

 The excellence award embodies the spirit of the company’s originator by consistently growing the GOP line and remaining within budgeted parameters no matter how difficult the situation presents itself. 

The complete list of winners includes:

1. THE CHARLES L. MARSHALL PROPERTY EXCELLENCE AWARD 2018: The George Washington Hotel, A Wyndham Grand, Winchester, Va.
2. THE CHARLES L. MARSHALL EXCELLENCE AWARD 2018: Peter Donnelly

Patty Weist

1. 2018 Best GOP as a Percentage of Budgeted GOP
1. FULL SERVICE: The George Washington Hotel, A Wyndham Grand, Winchester, Va.
2. SELECT SERVICE: The Bernic Hotel New York City, N.Y.
2. Best RevPAR Index for 2018

Bonnie Goodman

1. FULL SERVICE: DoubleTree by Hilton Hotel Binghamton, N.Y.
2. SELECT SERVICE: Hampton Inn & Suites South, Fredericksburg, Va.
4. Accounting Excellence 2018
1. FULL SERVICE: DoubleTree by Hilton Hotel Binghamton, N.Y.
2. SELECT SERVICE: Appomattox Inn & Suites, Appomattox, Va.
5. Sales Team of the Year 2018: Grand Hotel & Spa, Ocean City, Md.
6. People-Focused Leadership Excellence 2018: Jenifer Prokofiew, Hampton Inn, Salisbury, Md.
7. Performance Excellence 2018: George Metz
8. DOS of the Year 2018
1. FULL SERVICE: Patty Weist, DoubleTree by Hilton Hotel Binghamton, N.Y.
2. SELECT SERVICE: Bonnie Goodman, The Bernic Hotel New York City, N.Y.
9. GM Rookie of the Year: Andres Orozco, The Bernic Hotel New York City, N.Y.
10. GM Regional MVPs
1. Christine Sigler, Hampton Inn & Suites/Wyndham Garden Inn Marietta Atlanta North, Ga.
2. Steve Mitchell, DoubleTree by Hilton Hotel Youngstown Downtown, Ohio

1. Chris Porrazzo, Staybridge Suites Philadelphia Valley Forge 422, Royersford, Pa.
2. Dennis Marcinik, The Virginian Hotel Lynchburg, Curio Collection by Hilton, Va.

CONTACT:

Chris Daly, media

Daly Gray Public Relations

(703) 435-6293

chris@dalygray.com

 www.marshallhotels.com.

HFF arranges $93 million acquisition financing for 1333 Broadway in Oakland, CA

1333 Broadway, Oakland, CA

SAN FRANCISCO, CA –– HFF announces that it has arranged approximately $93 million in acquisition financing for 1333 Broadway, a 253,393-square-foot, Class A office building in Oakland, California.

HFF worked on behalf of Swift Real Estate Partners to secure the floating-rate acquisition loan through an affiliate of Brookfield Asset Management.

David Copeland

1333 Broadway is positioned in the heart of Oakland immediately adjacent to the 12^th Street City Center Bart station, which is only two stops away from San Francisco. 

The property has convenient access to the Bay Area’s highway system via Highways 980 and 880 and with a Walk Score® of 99, is within walking distance of a multitude of restaurants, beer gardens, cafes, retail shops and entertainment options in Uptown Oakland.

Major tenants at the 95% leased office tower include Delta Dental and Teecom. 

“Swift is thrilled to purchase such a high-quality building located in the heart of Oakland on top of the City Center Bart station,” said David Copeland, the Director that led the acquisition for Swift Real Estate Partners. 

 “1333 Broadway benefits from a strong tenant base that has invested significantly in their space.  This area is undergoing a substantial transformation enhanced by approximately 1,500 new residential units and corresponding ground floor retail under construction within a three-block radius.”

The HFF debt placement team that arranged the financing consisted of managing directors Jordan Angel and Mark Root.

Jacobus Machalow of Orrick provided legal representation for Swift Real Estate Partners.

Jordan Angel

“The lender provided Swift Real Estate Partners a great loan option for the acquisition of 1333 Broadway after a competitive process,” added Angel. 

“The accretive acquisition financing will enable Swift to work through their business plan on an asset in one of the best office real estate markets in the Bay Area.”

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

About Swift Real Estate Partners

Founded in 2010, Swift Real Estate Partners is headquartered in San Francisco, and has regional offices in Orange County, Portland, the San Francisco East Bay and the Silicon Valley.

Swift is a vertically integrated real estate investment firm which seeks to generate superior risk-adjusted returns for its partners.

Mark Root

Swift acquires and repositions office and industrial assets in select West Coast markets, identifying unique opportunities and executing well-defined business plans while providing real-time, day-to-day oversight for each investment.

Since inception, Swift has owned and operated real estate valued in excess of $3 billion across more than 10 million square feet.

Swift’s first institutional fund was raised in 2014 and is fully deployed. Swift’s Fund II was raised in 2016 and is fully committed.

Swift’s investor base includes U.S. pension funds, endowments and foundations, as well as foreign investors and investment advisors.

Swift's professionals bring experience encompassing all aspects of real estate investment management, including acquisition, financing, leasing, disposition, construction oversight and property management.

Jacobus Machalow 

CONTACTS:

JORDAN ANGEL

CA Lic. #01419993

Managing Director

(415) 276-6300

jangel@hfflp.com

MARK ROOT

CA Lic. #01839541

Managing Director

(415) 276-6300

mroot@hfflp.com

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

Straus--Hearst Family Mansion in Westchester, NY Listed at $6.75 Million; Sealed Bidding June 13 Starts at $2.5 Million

Westchester, NY lakefront mansion once owned by the Straus family of Macy’s department stores, and then by the Hearst newspaper family goes to auction  June 13. Listed at $6.75 million. Bidding starts at $2.5 million

Photo credit: Paramount Realty USA -- Source: prusa.com

QUARRY LAKE, WESTCHESTER, NEW YORK -- According to TopTenRealEstateDeals.com, an opportunity awaits history buffs, stressed-out Manhattanites, and possibly creative developers when a Westchester, New York lakefront mansion once owned by the Straus family of Macy’s department stores, and then by the Hearst family goes to auction on June 13.

Nathan Straus

A peaceful location with room to roam and restoration already prepped to begin, the mansion has been taken to the studs, the excavation dug for a cliffside infinity pool and even a lakefront log cabin further through the woods has construction started.

Isidor Straus

 Ideal for a buyer’s architect to design for their personal taste, sealed bidding starts at $2.5 million - an almost 60% reduction from its list price of $6.75 million.

William Randolph Hearst

Now a secluded property of 7.9 acres, it was originally part of a 43-acre estate purchased by the Straus family in 1895, a year before brothers Isidor and Nathan Straus became the sole owners of Macy’s.

Macy’s, the largest department store chain in the United States, was one of the first employers in America who were concerned for the health care of their workers hiring a doctor and nurse for their New York store.

The Straus estate stayed in the family until the 1980s when it was sold to the Hearst family, for many years the country’s largest newspaper chain.

Lana Zacocela

After Randolph Hearst died in 2000, his widow sold 37.25 acres to the City of New York for $5.3 million. It continued to be her residence until 2016 when she sold it to the Republic of the Seychelles, a rapidly developing nation of islands in the Indian Ocean, to be used as the family home of its consul general, Justin Etzin, and his model-wife, Lana Zakocela.

However, after having just begun a massive renovation of the property, Justin and Lana filed for divorce and the Republic of the Seychelles placed the estate on the auction block, still in the early stages of renovation.

Located only 40 minutes from New York City by train, 490 acres of conservation land surround the home including Cranberry Lakes Preserve.

Justin Etzin and wife Lana Zacocena

Sited on spring-fed Quarry Lake, formerly a 19th-century granite quarry, additional structures include a 1,300-square-foot log cabin, guest cottages, stables, custodian’s house, and a garage.

Ground has been dug out next to the main house for a one-of-a-kind 60’ infinity pool overlooking the lake from the cliff above.

The 13,721-square-foot main house has huge rooms with 19-foot ceilings, formal rooms, eight bedrooms and ten baths.

The 1,300-square-foot log cabin is under construction and other structures include guest cottages, original stables, caretaker’s house and a garage.

The estate is a seven-minute drive to the Valhalla and North White Plains Train Stations and fourteen minutes from the Westchester County Airport.

After acquiring the necessary change of use, possibilities are almost limitless for development such as a housing subdivision, school or religious facility or in sticking with its original purpose as a glamorous family home ideal for entertaining.

Contact:

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504
Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

Mel Gibson's Malibu, CA Home on Market for $14.4 Million

Actor Mel Gibson's 6,578-SF, two-story Malibu, CA Mansion is Priced at $14.4 Million   
 Photo credit: The Agency -- Source: theagencyre.com

MALIBU, CA -- According to TopTenRealEstateDeals.com, multi-talented, Academy Award-winning Mel Gibson has propelled his acting career, and simultaneously his real estate investments, into a $425 million net worth - a far cry from when he moved with his middle-class parents from New York to Australia at age 12. 

Mel’s home in Malibu, CA is now on the market, priced at $14.495 million. Listing agents are Sandro Dazzan of The Agency, Beverly Hills and Branden Williams with Hilton & Hyland, Beverly Hills.

Mel studied acting at Australia’s National Institute of Dramatic Arts and soon became a major movie star at age 23 after his lead role in the 1979 Australian-film Mad Max, for which he earned just $15,000. 

Mel Gibson

Today, whether acting, directing, inciting controversy or purchasing some of the most romantic properties on the planet, he does it with passion. 

From action figure, to comedy, from stage to film, he has proven himself in the entertainment industry as evidenced by his many awards and has funneled that income into property investments with holdings in Australia, Costa Rica, the United States and Mago Island in Fiji.

 He has quietly but seriously made philanthropic donations in the countries where he invests and intends to keep the Fijian island in its natural, undeveloped state. 

Sandro Dazzan

Consistently, Gibson’s real estate choices reflect his penchant for the earthy and rustic with a strong romantic vibe cushioned among lush plantings. 

Such is the case with this Malibu, California mansion which he purchased in 2008 and added his personal stamp and highlighted its Old World characteristics. 

One of the most beautiful estates in central Malibu, Gibson’s estate is accessed through a long-gated drive ending at a large motor court. 

The 6,578-square-foot house is entered via the two-story foyer that opens into an expansive great room with high vaulted-beamed ceilings, stone-arched doorways, large chandeliers, dark-wood floors, walls of transomed French doors exposing canyon and ocean views and a grand stone Inglenook-style fireplace. 

Branden Williams

With five bedrooms and five baths, there is a large French Country kitchen with bespoke cabinetry, marble countertops, island for workspace and casual dining, a den, gym and family room. 

Outside are terraces overlooking ocean views, one with a romantic, vine-covered pergola for alfresco dining, and a three-car garage with a two-bedroom guest house above. 

Preferring a lush landscape, Gibson added additional plant materials native to Southern California. There are two swimming pools and the 5.5-acre property includes membership in the La Costa Beach Club.

CONTACT:

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504
Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

RECI Finds Interest Rates Continue Southward but Supply of Mortgage Funds Still Solid

John Oharenko

Chicago, IL -- Chicago, IL-based Real Estate Capital Institute (RECI) finds interest rates continue heading into record-low territory.  

Over the past month, rates dropped about 40 basis points, approaching the lowest levels of the current administration. 

Key concerns focus on slowing global economic growth and the US trade war with China/Mexico.   Fed fund futures suggest a quarter point rate decrease is on the horizon by this fall.

John Oharenko, director of the Real Estate Capital Institute®, notes "Interest rate worries are overshadowed by the overall economic outlook.  That said, real estate markets are mostly healthy."

Mortgage rate spreads remain unchanged for both long-term and short-term pricing.  Higher leverage multifamily debt (80%) can be had in the lower 4%-range with agency debt.  

Life companies offer loans in the higher 3%-range with more modest leverage (65% or less).  Debt funds and conduits compete in the 4.5%-to-5.25% range based on a wider risk and leverage profile.   Banks also hover in the 4%+ rate territory for floating rate debt. 

Regardless of lending format, rates are extremely competitive by historical standards.  Pricing differences between various funding programs and lender types are at very tight margins.  

Some lenders are pulling out of debt markets due to profitability concerns.  However, the supply of mortgage funds is abundant.

CONTACT:

John Oharenko 

Executive Director

director@reci.com 

 www.reci.com

 john.oharenko@reci.com