Hospitality Ventures Management Group (HVMG) Names Brian Young Executive Vice-President, Investments and Chief Financial Officer

Brian Young

ATLANTA, GA —Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, named Brian Young executive vice-president, investments and chief financial officer. 

  In the newly created role, Young will be leading HVMG’s finance, investor relations and financial reporting areas, and he will have a significant role leading and supporting HVMG’s aggressive growth plans around acquisitions, investments, joint-ventures and M&A activity.

 “Brian honed his knowledge and skillset through key leadership positions at Interstate Hotels and Resorts, the nation’s largest hotel operator, during the company’s high growth and transformational years,” said Robert Cole, president & chief executive officer, HVMG. 

Robert Cole

“His experience, skill set and accomplishments are the perfect fit for what we were looking for.  More importantly, he is a strong cultural fit with our existing leadership team. 

 "We interviewed many highly-qualified people for this role, and Brian clearly emerged as the lead candidate through a very thorough search and vetting process.”

 Prior to joining HVMG, Young held multiple, increasingly important positions and received several promotions over the course of his nearly 18 years with Interstate Hotels & Resorts & Aimbridge Hospitality, including senior director, finance, culminating with senior vice-president of development and acquisitions. 

  While there, he oversaw platform acquisitions, individual hotel acquisitions, management contracts, dispositions and related activity including raising equity. 

  He also was instrumental in the negotiations, closing and successful integration of companies such as Rim Hospitality and Noble Management Group that allowed Interstate to expand its geographic footprint. 

  Young received his bachelor’s in business administration, focusing on finance, from James Madison University.

    Contact:

CHRIS DALY

PRESIDENT

DG Public Relations, LLC

42806 Oatyer Court

Broadlands, Va. 20148

Main: 703-435-6293

Mobile: 703-864-5553

 chris@dalygray.com | www.dalygray.com

www.hvmg.com 

 

Reserve at Waterford Lakes in Charlotte, NC sold to Eller Capital Partners

Andrea Howard

CHARLOTTE, NC – JLL Capital Markets announced it closed the $21.75 million sale of the 140-unit Reserve at Waterford Lakes multi-housing property in Charlotte, North Carolina.

John Currin

 JLL represented the seller in completing the sale to the buyer, Eller Capital Partners.

 Largely unrenovated, Reserve at Waterford Lakes features one- and two-bedroom options with differentiated features such as elegant built-in shelving, crown molding and semi-open concept floorplans.

Community amenities include a pool, clubhouse, picnic and grilling areas, fitness center, Bark Park and a business center.

 The apartments are located at 8725 Kody Marie Court and positioned near many restaurant, nightlife and retail options, and just 20 minutes from the bustling Downtown Charlotte.

Nearby are prominent neighborhoods poised for continued growth, including SouthPark and Quail Hollow, and within walking distance, the Lynx Blue Line, which offers additional access across the Charlotte area.

Allan Lynch

 The JLL Capital Markets team representing the seller was led by Andrea Howard, John Currin, Allan Lynch, Caylor Mark and Jeff Glenn.

 “Reserve at Waterford offers a boutique community-feel with some of the most well-designed floorplans in the Charlotte market,” said Howard.

 “The stewardship of the seller over the last 13 years has the asset positioned perfectly for future interior renovations that will allow the property to compete head-on with South Park and Quail Hollow rental options.”

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

Caylor Mark 

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales 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 our newsroom.

 About Eller Capital Partners

Chapel Hill, NC based Eller Capital Partners is a private equity real estate firm focused exclusively on investing in multifamily assets that are located in the growing regions of the southeastern United States.

Jeff Glenn

Since 2011, Eller has acquired over $375 million of well-located properties, applying a vertically integrated, value-added approach to optimize the performance of each asset.

Eller has a senior management team that offers over 100 years of experience in the multifamily industry and has been directly and meaningfully involved in real estate transactions totaling well over $2 billion.

The company has expertise in all aspects of real estate acquisition, renovation, construction management, property management, asset management, fund management and disposition.

 

 

  Contact:

 Natalie Passarelli

Phone: +1 224 477 7307

Email:  Natalie.Passarelli@am.jll.com

 https://www.ellercapital.com/.

Capital market interest rates should remain steady for now, predicts Real Estate Capital Institute

John Oharenko 

Chicago, IL – Mid-winter capital markets demonstrate steady rates. Since the beginning of the year, longer-term treasuries barely climbed by more than ten basis points – staying in the 100-basis-point range. 

 Fed policy remains unlikely to radically change under the new presidential administration as rates stay unchanged per last month's meeting. Interest rates should remain steady for now. 

 That said, major realty capital market trends for this year include the following:

 Property Types: Attractive lending options and low-interest rates will further support acquisition activity, especially for most multifamily and industrial properties. However, investors continuously seek creative solutions for the survival of other CRE property types. For example, the lodging industry struggles as virus concerns cripple the business and leisure travel, yet multifamily conversions may solve this occupancy dilemma. 

Retail assets remain plagued by the dramatic shift to online shopping, but more retailers respond with higher service levels by offering curbside and online order pickup. Ample Funds: Lenders are awash with mortgage capital for well-performing CRE. As a result, expect tight spreads with low-interest rates to fuel more attractive financing opportunities this year.

 Specially-targeted properties (e.g., affordable and senior housing) will outperform other mortgage pricing sectors, as minimal inventory remains a vexing problem.

 Funding Sources: Agencies, banks, life companies, and conduits actively participate in the real estate capital markets. Agencies exceeded production goals last year, expecting to capture more production this year. Banks remain committed to short-term lending, and local institutions fund entrepreneurial deals. LifeCos offers ample long-term debt options, directly competing with agencies and conduits, especially pricing vs. leverage. In contrast, conduits and debt funds offer more favorable leverage with higher pricing.

Pricing: On track with mortgage pricing seen in 2020, longer-term debt can be captured at pricing below 150 basis points for prime-quality assets – mainly apartments and industrials. Otherwise, most mortgages offer pricing of 150 to 200 basis points for higher leverage loans (65%-75% LTV) and other types of CRE asset classes. More recently, some lenders search for more aggressive risk-adjusted returns above 200 basis points by funding conversions, new construction, and re-lease projects. 

 John Oharenko, the Real Estate Capital Institute's director, suggests, "Lenders and investors alike, continue to be surprised by the resiliency of the realty capital markets. Finding deals remains as challenging as ever." 

 The Real Estate Capital Institute® is a volunteer-based research organization that tracks realty rates data for debt and equity yields. The Institute posts daily and historical benchmark rates, including treasuries, bank prime, and LIBOR.

 Contact: 

 John Oharenko 

Executive Director 

director@reci.com

john.oharenko@reci.com

www.reci.com

The Real Estate Capital Institute® Chicago, Illinois USA 60622 

Hospitality Asset Managers Association (“HAMA”) Names 2021 Board of Directors

Larry Trabulsi

 

                 ATLANTA, GA — Officials of the Hospitality Asset Managers Association (“HAMA”)  announced their new board of directors for 2021. 

 Appointed at the group’s semi-annual conference held virtually this past year, the new members include:

 ·        Larry Trabulsi, CHMWarnick, CHAM – President

·        Matthew Arrants, Pinnacle Advisory Group, CHAM – Vice-President

·        Sarah Gulla, Pebblebrook Hotel Trust, CHAM – Membership Chair

·        Kerry Gaber, Host Hotels & Resorts – Treasurer

·        Chad Sorensen, CHMWarnick, CHAM – Marketing Chair

·        Elizabeth Lloyd, Ashford Hospitality Trust –  Industry Chair

·        David Danieli, Pebblebrook Hotel trust –  International Chair

·        Derrick Yee, Kahana Capital Partners, CHAM – Education Chair

·        Kim Gauthier, HotelAVE, CHAM – 2020 President

·        Justin Epps, Watermark Lodging Trust, Inc. –  At-Large Board Member

·        Dina Winder, Walton Street Capital –  At-Large Board Member

 

Kim Gauthier

        New HAMA president Larry Trabulsi brings more than 20 years of hospitality industry experience  and a career largely dedicated to hotel asset management, including his current role of executive vice president with CHMWarnick, a leading hotel asset management and owner advisory company.

 He has served as an active member of the HAMA organization for 10 years, holding numerous board and committee positions, including international chair.

 Dina J. Winder

Trabulsi is one of only 43 active professionals in the world holding the coveted CHAM (Certified Hotel Asset Manager) designation, the only advanced certification available to accomplished hotel asset management professionals.

 Trabulsi has experience  across a wide range of land-uses, including hotels, resorts, restaurants, golf courses, marinas and other recreational assets.

 His clients have ranged from  developers and private equity firms to lenders and public entities, including convention center authorities, the National Park Service, the United States Forest Service and branches of the U.S. Department of Defense. 

 Contact:

 CHRIS DALY

PRESIDENT

DG Public Relations, LLC

42806 Oatyer Court

Broadlands, Va. 20148

Main: 703-435-6293

Mobile: 703-864-5553

 chris@dalygray.com | www.dalygray.com

Daum Commercial Completes $3.49 Million Sale of Rare Available Property in Tight Los Angeles Airport Submarket

Automotive retail building and lot, totaling more than
11,560 square feet, located adjacent
to Los Angeles International Airport (LAX)

 LOS ANGELES, CA – DAUM Commercial Real Estate Services has completed the sale of rare automotive retail building and lot, totaling more than 11,560 square feet, located adjacent to Los Angeles International Airport (LAX) in Los Angeles, California, on behalf of the seller, according to Kurt Yacko, Associate at DAUM Commercial.

 Dennis Sandoval

 Yacko represented the seller, a private partnership, in the transaction alongside DAUM Executive Vice President Dennis Sandoval and Associate Brian Sandoval.

 The buyer is airline and airport ground services handling company S.A.S. Services Group, Inc.

 “The seller had a rare available space that could be adapted to a range of various uses in a high-traffic area near LAX,” explains Yacko.

 “DAUM was able to secure this listing based on our deep understanding of the submarket and the businesses that operate in the area, despite competition with several other brokers.”

 According to Yacko, the property’s immediate access to the new Midfield Satellite Concourse expansion of LAX’s Tom Bradley International Terminal made it an ideal fit for S.A.S. Services Group’s operations.

Kurt Yacko

“We sourced all-cash offers from several interested parties, demonstrating the strong demand for space in the LAX area,” says Yacko, who notes that the West/South Los Angeles submarket posted industrial vacancies in the 2% range in Q4.

 “While the transaction required lengthy negotiations and experienced some delays due to the pandemic, we ultimately closed with a highly satisfactory price for the seller.”

 The asset features a 1,114 square-foot building sitting on 10,454 square feet of land in a corner location in close proximity to a new parking and car rental development.

 The agent representing the buyer was Heba Abulazm of Real Estate Source INC. The asset is located at 9220 S. Sepulveda Boulevard in Los Angeles, California. The total consideration of the sale was $3.49 million.

Contacts:

Katie Haga / Elisabeth Manville  
Brower Group  
(949) 438-6262 
khaga@brower-group.com 

 www.daumcommercial.com

JLL Expands Tenant Rep Brokerage Expertise in Los Angeles

Jim Schoolfield

 LOS ANGELES, CA, Feb. 10, 2021 – JLL continues to expand its brokerage expertise in the Los Angeles area.  The firm announced that Jim Schoolfield has joined the firm as Executive Vice President.

Schoolfield will be based in the firm’s new Century City office, focused on working with corporate occupiers on their commercial real estate needs in West Los Angeles and throughout the region.  

He will also be working with JLL’s Kevin Bender and Blake Searles, co-leaders of the firm’s Office Tenant Representation Group in Los Angeles, to expand the practice.

Kevin Bender 

"With the evolving economy, pandemic and workplace, companies now more than ever need a strategic partner to navigate their short-term and long-term real estate needs,” said Peter Belisle, JLL Southwest Market Director. 

"Jim is the perfect fit to help satisfy the needs of our occupier clients as corporations begin to return to work and continue to evaluate their overall office footprint.  

"We will continue to work to identify and hire key personnel that can add value to our clients."

Blake Searles

Schoolfield joins JLL from a commercial real estate services firm where he served on its global advisory and transaction services group, responsible for strategic planning, corporate lease and purchase/sale negotiations and portfolio optimization. 

Schoolfield has over 16 years of commercial real estate experience totaling more than $1 billion in project value.

Schoolfield earned a Bachelor of Arts in Economics from the University of North Carolina, Chapel Hill.  

Additionally, Since 2015 he has served as chairman of the St Jude Children’s Hospital Invest in Hope event here in Los Angeles.

Peter Belisle

  Schoolfield is also currently on the board of the Executive Forum for ACG LA.

Contact:

David Ebeling

Phone: +1 949 861 8351

Email: david@ebelingcomm.com 

jll.com.

Intracorp Homes, Led by Locally-based Teams, Making Steady Progress on New Luxury Townhome Community in Newport Beach, CA

 

 The Isle at Mariner Shores, Newport Beach, CA

NEWPORT BEACH, CA– Real estate development company Intracorp Homes has announced an update on the advancing construction of 36 new three-story townhomes at The Isle at Mariner Shores, a new community located in a prime Newport Beach neighborhood adjacent to Dover Shores and near Eastside Costa Mesa that is estimated to open in Spring 2021. 

 The project consists of several Newport Beach-based companies selected for this development, including a new sales team led by at Arbor Real Estate Professionals, giving this development Matt Genova an advantage in its deep knowledge and understanding of the area.

 

Matt Genova 

“When developing a new project, our goal is to bring value to both the city and its residents and deepen the interaction between our residents and local businesses,” says Brad Perozzi, President of Intracorp Southern California. 

 “Matt Genova has an impressive background in marketing and sales as well as significant real estate experience in Newport Beach and its surrounding communities, which made him and Arbor Real Estate a choice partner for this project.”  

 

Brad Perozzi

According to Perozzi, the decision to bring on The Genova Team came from Intracorp’s desire to thoughtfully form a local beach community team that would bear extensive knowledge about the area. 

 Additional partners include Newport Beach-based architectural firm Bassenian Lagoni and interior design team Blackband Design, and Urban Arena landscape architects based in Costa Mesa.

 For more information, or to be added to Intracorp’s interest list and receive updates on the project, please visit https://www.theislemarinershores.com/ or contact Matt Genova at 949.478.2231.

 Contacts:

Miki Akil / Carrie Freitas

Kitchen Table PR

832.260.4414

miki@kitchentablepr.com

Stan Johnson Company Represents Seller in Disposition of Industrial Distribution Center Near Greenille, SC

Rob Gemerchak

 CLINTON, SC -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has announced the sale of a 190,000-square-foot industrial distribution center fully leased to PL Developments, a leading manufacturer, packager and distributor of over-the-counter pharmaceutical products and consumer healthcare goods.

 The property is located about 45 miles southeast of Greenville, South Carolina at 28966 Highway 76 East in the city of Clinton.

  The seller, Piselli Enterprises Inc., was an individual investor from North Carolina, and they were exclusively represented by Stan Johnson Company’s Rob Gemerchak.

  The asset was purchased by a South Carolina-based individual investor. The facility traded for $3.7 million at an 8.39 percent cap rate.

 “The strong market interest we received from prospects nationally is a testament to the current demand for stabilized distribution assets,” said Gemerchak, Director in Stan Johnson Company’s Toledo, Ohio office.

 “Despite the relatively short remaining lease term, investors were attracted to the quality of the tenant and the strategic importance of this location within their supply chain.”

 The recently upgraded building was originally constructed in 1970 and sits on 25 acres. PL Developments has occupied the center for the last 18 years.

 This location supports two of the tenant’s nearby manufacturing and packaging facilities and is in close proximity to Interstates 26 and 385.

Contact:  

David Ebeling

 Ebeling Communications

 (949) 278-7851

  david@ebelingcomm.com

 www.stanjohnsonco.com

 

Horvath & Tremblay Continues U.S. Expansion and Growth, Opening New Office in Miami, FL

Kirk Felici 

BOSTON, MA -- Horvath & Tremblay, one of the most active and successful Investment Real Estate Brokerage firms in the U.S., opened its new Miami office on January 4, 2021 as part of an overall growth initiative.

 The new office will enable the firm to better serve investors looking to place capital or sell property in the Florida marketplace.

 The Miami office, focused on Multi-Family/Mixed-Use, Multi-Tenant Retail, and Single Tenant Net Lease property sales, will be led by Managing Director, Kirk Felici, who has more than 20 years of commercial real estate experience.

  “The decision to expand our reach into the Florida market comes on the heels of a highly successful 2020 and is strategic for Horvath & Tremblay’s growth,” said Bob Horvath, Executive Vice President of Horvath & Tremblay.

Bob Horvath

 “We couldn’t be more excited to have Kirk Felici leading this important effort. 

"He’s been a top-producing leader for many years, and his knowledge and experience in the Florida market will be the key to our continued growth in this state.” 

 “Horvath & Tremblay delivers exceptional client services with precision execution while providing unparalleled support to their agents,” said Felici. 

“I’m delighted to join this industry-leading company and capitalize on all the advantages the firm brings to the Florida market.” 

 Horvath & Tremblay has consistently been honored as one of the “Top 10 Commercial Real Estate Workplaces in the United States”. The new office will be another premier location for the company offering many amenities and conveniences for its staff, agents, and clients.

 Horvath & Tremblay is headquartered in Boston, MA and has eight locations. The Miami office is located at 3050 Biscayne Blvd. Miami, FL 33137, and is one of two new locations the firm opened in January 2021.

  CONTACT:

Kirk Felici

email | kfelici@horvathtremblay.com

 Managing Director

Horvath & Tremblay

phone | (305) 907-6721

HorvathTremblay.com

Nadel Architecture + Planning Completes Phase 4 Expansion of 481,000-SF Showcase Mall in Las Vegas, NV

Showcase Mall, 3767 South Las Vegas Boulevard, Las Vegas, NV

LAS VEGAS, NV –  Nadel Architecture + Planning, Las Vegas office announces the completion of its expansion to the Showcase Mall, a 481,400 square-foot retail and entertainment destination owned by Gindi Capital and located on the world famous Las Vegas Strip.

 The 155,000 square-foot, three-story Phase 4 expansion, which opened in May after a slight delay due to the pandemic, includes the addition of a 50,000 square-foot Burlington store and a 20,000 square-foot Target.

 Gindi Capital is planning to add a rooftop bar and restaurant 75 feet above street level, offering views of the Strip.

Greg Lyon

The project represents the potential for a strong retail recovery on the Las Vegas Strip – an area whose economy is largely dependent on tourism – once the COVID-19 pandemic subsides, according to Greg Lyon, chairman and principal for Nadel.

 “As a leading L.A.-based architectural and design firm for the last 47 years, Nadel has witnessed several real estate and economic cycles impact the Western U.S.,” says Lyon.

 “We have seen the renaissance of the retail sector, in particular, time and again as it has faced down numerous challenges.

Mark Mikelson

 "While the COVID-19 pandemic has had an unprecedented impact on all of commercial real estate, we anticipate a robust rebound beginning in 2021 as a safe and viable vaccine becomes widely available and consumers feel comfortable about returning to shopping centers once more.

 "The completion of this project is testament to stakeholders’ confidence in the potential of the Las Vegas market and the retail sector as we emerge from this health and financial and crisis.”

 Nadel’s design of the fourth phase of Showcase Mall, a center that was originally constructed in 1996 and has experienced several additions over the years, is distinguishable for several reasons including the construction of a basement level and escalators to access the Burlington store on that level, elevators that lead to a unique lobby for each tenant, and an all-glass front façade, according to Mark Mikelson, principal with Nadel and lead architect on the expansion project.

 “It is particularly unusual on the West Coast to see a retailer occupying basement spaces, which affords this new space extra appeal for shoppers and visitors on the Strip,” says Mikelson.

  CONTACTS:

Alex Caswell / Lexi Astfalk

Brower Group
(949) 438-6262

acaswell@brower-group.com

 

www.nadelarc.com.

www.nadelarc.com.