Woodmont Lodging, Milestone Companies and Blue Vista Capital Management Complete Joint Acquisition of Newly Constructed 98-Room Fairfield Inn & Suites Pittsburgh Downtown

Fairfield Inn & Suites Pittsburgh Downtown, 435 Fort Pitt Boulevard

 PITTSBURGH, Pa. — Woodmont Lodging, a leading hotel company, and Milestone Companies, a premier full-service real estate development company specializing in hotel assets, jointly announced the completed acquisition of the 98-room Fairfield Inn & Suites Pittsburgh Downtown. 

 Woodmont Lodging will provide asset management services, and Milestone Hospitality will deliver property management services to the newly constructed hotel.

                “We continue to seek premium-branded assets in compelling markets with multiple demand generators capable of better weathering any potential economic downturns,” said Elliott Estes, principal, Woodmont Lodging. 

“Pittsburgh is a dynamic market, the hotel has incredible river views and is surrounded by a variety of Fortune 500 companies, universities, hospitals and a growing tech corridor.  The hotel is the newest property in Pittsburgh, providing business and leisure guests with the latest amenities.”

Elliott Estes

                Located at 435 Fort Pitt Boulevard, the seven-story hotel is proximate to such local attractions as PNC Park, Heinz Field and the David L. Lawrence Convention Center. 

The hotel provides customers with fantastic waterfront views along the Monongahela River and ease of access to the Station Square entertainment and retail district. 

 Each room and suite provide oversized workspaces with ergonomic chairs, complimentary high-speed Wi-Fi, cotton-rich linens and a comfortable pillow top mattress for relaxation. 

Hotel amenities include a 24/7 fitness center, guest laundry, sundry store and a daily, complimentary hot breakfast.  The hotel hosted its grand opening in October 2019 after two years of construction.

                “This acquisition marks our second Fairfield Inn & Suites and our third Marriott-branded hotel,” Estes added.  “We are confident that our familiarity with the brand, coupled with Milestone’s expertise and comprehensive approach to property management, will allow us to quickly ramp up operations and position the hotel as the upper mid-scale destination of choice for visitors to the area.”

 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.bluevistallc.com.

www.milestonehotels.com.

BIG TEXAS, BIG SPECTACLE: OTL TO DELIVER SPECIAL-EFFECTS SHOW FOUNTAIN ADJACENT TO $250 MILLION TEXAS LIVE! ENTERTAINMENT DISTRICT

  

Special-effects show fountain near the $250 million
 Texas Live! development in Arlington, TX

Arlington, TX – Design-build construction company OTL has announced the new addition of a special-effects show fountain near the $250 million Texas Live! development in Arlington, which has cemented itself as a national leader in cultural arts, sports and entertainment.

The new technology-driven water feature which is being constructed in a public park next to the $150 million flagship Live! by Loews luxury hotel, with direct sight lines to AT&T Stadium, Johnson Creek, Texas Live! and the forthcoming $1.2 billion Texas Rangers’ Globe Life Field retractable roof ballpark.

 

J. Wickham Zimmerman

The fountain will feature bold special effects, including 57 fast-paced chaser jets over 25 feet in height, six vertical air cannons over 60 feet tall six OTL custom-developed burst-effect air cannons, over 200 color-changing lights, and 6 dancing flame nozzles that will captivate visitors.

 The addition aligns with the Arlington Parks and Recreation Department’s vision to provide unique arts and culture experiences for the City’s Sculpture Trail along Johnson Creek.

“This new public fountain will deliver an impressive show to Arlington residents and visitors,” said Arlington Mayor Jeff Williams. “We dream big here in The American Dream City, and we’re proud of the enhancement this fountain will provide to our thriving Entertainment District and the beautification of Johnson Creek.”

Arlington, TX Mayor Jeff Williams

The new fountain, designed and constructed by OTL, will deliver a host of thrilling special effects that integrate into Arlington’s sports-and-entertainment-driven atmosphere.

“Water features are the heart of public gathering spaces, and this new show fountain will be a spectacle worthy of its entertainment-driven surroundings,” says J. Wickham Zimmerman, Chief Executive Officer of OTL.

“Our design includes nearly seventy fountain jets, with several that will reach a stunning 60 feet in the air, as well as fire effects and state-of-the-art lighting – all of which will be integrated into Arlington’s high-profile sports and entertainment offerings.”

OTL’s lead designer, Chris Roy, collaborated with The Cordish Companies, architect HKS Architects, landscape architects SWA/Balsley and MMA Texas (the latter of which also served as civil engineer for the project), while OTL’s project executive, John Cunningham, project manager, Kevin Bright and superintendent, Jerry West coordinated the build with general contractor Manhattan Construction on the milestone project.

Contacts:     

   

Alex Caswell / Jenn Quader

Brower Group

(949) 438-6262

acaswell@brower-group.com

www.otl-inc.com.

NAI Realvest Closes on Land Near I-75 / SR 44 Interchange; Holiday Inn Express Construction to Start by Mid-October

Rendering of planned Holiday Inn Express in Wildwood, FL

Wildwood, FL – NAI Realvest recently closed on the $825,000 sale of 2.7 acres at County Road 229 and State Road 44 just east of the I-75 Interchange in Wildwood.   

Michael P. Holtz

MPH Hotels, Inc. headed by Michael P. Holtz, a hotel developer / operator based in St. Petersburg, purchased the property to build a 92-room Holiday Inn Express that will break ground in mid-late October.   

Kevin O’Connor and Matt Cichocki, principals of NAI Realvest, brokered the transaction on behalf of the buyer and the Winter Park-based seller 2511 Howell LLC whose principal is a local investor / owner of several businesses.

  
MPH currently has several hotels under development or open and operating throughout the Midwest and Florida .   

The Wildwood hotel is scheduled to open December 1, 2020.  

Kevin O'Connor

“The SR 44 corridor between I-75 and The Villages has seen a strong surge of development activity since the expansion of The Villages to the south,” O’Connor said.     

About NAI Realvest

NAI Realvest, covering all of central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide. 

NAI Global is an international commercial real estate network with over 400 offices spanning the globe.  

Since 1978, clients have built businesses on the power of NAI Global’s expanding network. Extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. 

Matt Cichocki

About MPH Hotels, Inc.

MPH Hotels Develops limited service hotels, typically 75 to 150 rooms in secondary markets to operate for a period of time; then sell the hotel and realize the potential gain for the investors. 

The company sees a tremendous opportunity for growth as the secondary markets continue to grow throughout the country and the need for quality lodging in these markets expands.  

Since its inception, MPH Hotels has developed/acquired and/or constructed over 26 hotels in seven states. T

Contacts:

Kevin O’Connor or Matt Cichocki, Principals, NAI Realvest 

407-875-9989 koconnor@realvest.com or mcichocki@realvest.com  

Patrick Mahoney, President / CEO, NAI Realvest 

407-875-9989 pmahoney@realvest.com

Beth Payan, Larry Vershel Communications 

407-644-4142 or 407-461-3781 beth@larryvershel.com

www.NAIRealvest.com
www.mphhotels.com

JLL closes sale of Southwest Houston, TX apartments

144-Unit Mark VI apartments in Southwest Houston’s affluent Bellaire submarket

HOUSTON, TX – JLL announced it has closed the sale of Mark VI, a 144-unit, value-add multi-housing community in Southwest Houston’s affluent Bellaire submarket.

JLL marketed the property exclusively on behalf of the seller, AK Interests, and procured the buyer, Indus Management Group.

Bailey Crowell

Mark VI, which will be renamed The Atrium at 5606, is situated on approximately four acres at 5606 Bissonnet Street near Houston’s largest employment centers, including the Galleria area, Texas Medical Center and downtown, as well as the city’s top lifestyle amenities. 

Originally constructed in 1970, the property consists of 59% unrenovated and 41% partially renovated units, which average 887 square feet.

 The community is zoned to Bellaire High School, which was ranked as the No. 4 Best High School in the Houston Independent School District. 

Joey Rippel 

Community amenities include a swimming pool with poolside lounge area, six landscaped courtyards with seating, on-site laundry facilities and covered parking.

“We are excited to uplift another community in the area by introducing The Atrium at 5606, formerly known as Mark VI Apartments,” said Manu Gupta, managing director of Indus Management Group. “This will be our fourth acquisition in the submarket."

Manu Gupta

The JLL Capital Markets team representing the seller was led by Directors Joey Rippel and Chris Young and Analyst Bailey Crowell.

“Mark VI is a great acquisition for fresh capital to achieve value-add returns,” Young said. “It is a very well-maintained, 1970s vintage asset with a long runway for value-add, which is supported by a more than $1,000 rent gap compared to new construction in the submarket.

Chris Young

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Deal secured by Holliday GP Corp. (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.

Contact:

 Olivia Hennessey

 JLL Public Relations Specialist

Phone: +1 713 852 3403

Email: Olivia.Hennessey@am.jll.com

induscommunities.com
jll.com.

JLL closes sale of Alpharetta City Center in Alpharetta, GA

Alpharetta City Center, Downtown Alpharetta, GA

ATLANTA, GA – JLL announced it has closed the sale of Alpharetta City Center, a unique heritage-based, mixed-use residential and retail property in downtown Alpharetta, Georgia.

JLL marketed the asset exclusively on behalf of the sellers, South City Partners and Morris & Fellows. CBRE Global Investors purchased the property on behalf of a separate account client.

 Margaret Caldwell

Alpharetta City Center consists of 82,700 square feet of high-end boutiques and chef-driven restaurants and 168 elite residences finished to bespoke quality within a multi-housing community called Amorance. 

The property is adjacent to Alpharetta City Hall, the Fulton County Library, Brook Street Park and Town Green, and is the trailhead of the new Alpha Loop trail system. Designed to blend with the historical architecture in downtown Alpharetta, the project contains three components.

Margaret Jones

Amorance, developed by a partnership of South City Partners and Morris & Fellows, is a two-building luxury community with a mix of one- and two-bedroom floor plans, averaging 1,067 square feet. 

David Gutting

Completed in 2018, the property features a penthouse-level clubroom with outdoor patio, catering kitchen and communal living room with fireplace and TV; pool courtyard with grilling area, fire pit and lounge seating areas; and expansive fitness center with yoga and spin rooms.

The District, a 41,650-square-foot collection of local boutiques and luxury service providers sits at street level below the apartments.

The Gardens, developed by Morris & Fellows, houses 41,050 square feet of chef-driven restaurants in two and a half acres of parks and green spaces spanning three city blocks of Main Street. The retail and restaurants are 100% leased.

Derrick Bloom

The JLL Capital Markets team representing the seller was led by Managing Directors David Gutting, Margaret Caldwell (now with Arden Capital Advisors) and Derrick Bloom and Vice President Margaret Jones.

“Alpharetta City Center was a unique opportunity for an investor to own the impossible – an irreplaceable slice of Downtown Alpharetta that will continue to appreciate dramatically throughout CBRE Global Investors’ ownership,” Gutting said.

“As we anticipated, Alpharetta City Center received significant interest from institutional investors,” Caldwell added. “This is the type of trophy asset that most investors want in their portfolio due to the location, high-end residential, boutique retailers and local restaurants.”

Mark Randall 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. 

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

John W. Long

About South City Partners

South City Partners is a fully integrated multi-family development company focused on creating extraordinary residences in distinctive communities while providing its partners with solid returns. 

South City is founded by friends Mark Randall and John Long, who share a keen eye for quality design, flawless execution and a history of creating and empowering great teams that build highly regarded projects and communities. South City, formed in 2011 is headquartered in Atlanta, Georgia. 

Cheri Morris (photo by Steve Schaefer)

Morris & Fellows

Founded in 1980 by Cheri Morris, Morris & Fellows initially guided investors, institutions and city governments on strategic planning of retail-based commercial real estate. 

In 2000 the firm began developing upscale mixed-use communities on its own behalf. Over the years, the firm worked on some of the western hemisphere’s most noteworthy properties, including Colonial Williamsburg, Georgetown Park in Washington D.C., Toronto’s Eaton Centre, Tyson’s Corner, Rosemary Beach, Lime Grove in Barbados, and The Summit in Birmingham.

 Current projects include Woodstock City Center and Alpharetta City Center, both structured as public/private partnerships with their host cities. 

Aerial of Alpharetta City Center, Downown Alpharetta, GA

Contact: 

Olivia Hennessey
 JLL Public Relations Specialist 

Phone: +1 713 852 3403

Email: Olivia.Hennessey@am.jll.com

https://southcitypartners.com/
http://www.morrisandfellows.com
 https://www.cbreglobalinvestors.com/
 jll.com.

JLL completes $20 million sale of landmark office building in Sacramento, CA

1130 K Street Office Building, Government Affairs District, Sacramento, CA

SAN FRANCISCO, CA – JLL announced it has closed the approximately $20 million sale of 1130 K Street, a historic landmark office building totaling 140,908 square feet in Sacramento, California.

JLL marketed the property on behalf of the seller, UC Regents, and procured the undisclosed buyer.

Cheri Pierce

Constructed in 1924 as the original Weinstock’s department store, 1130 K Street features a Romanesque four-story high arched entranceway and a half-dome colonnade window line spanning the fourth floor.  

The property is approximately 30% leased to a variety of public and private tenants with the largest tenant being UC Regents. 

Kristina Wollan

 Located within Sacramento’s vibrant Government Affairs District,1130 K Street is proximate to the State Capitol as well as a myriad of amenities, including restaurants, cafes, hotels and entertainment venues located along K Street or in the Kay District.  

Erik Hanson

Additionally, the historic property is only four blocks from the growing Arena District that is home to Golden 1 Center, DOCO and numerous new residential units either planned or under construction. 

 Michel Seifer

 1130 K Street is positioned within a designated Qualified Opportunity Zone, established as part of the Federal Tax Reform passed in 2017.

The JLL Capital Markets team representing the seller was led by Erik Hanson, Rob Hielscher, Michel Seifer, Cheri Pierce, Kristina Wollan and Nick Deaver.

Rob Hielscher

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.                                         

Contact: 

Kristen Murphy

 JLL Director, Public Relations

Phone: +1 617 848 1572

Email: Kristen.Murphy@am.jll.com

 jll.com.