Monday, February 15, 2021

KBS and Transwestern Real Estate Services Sign Property Management Agreement for Two Chicago Office Buildings Totaling More Than 170,000 Square Feet

 Micah Larmie

 CHICAGO, IL – KBS, one of the largest investors in premier commercial real estate in the nation, and commercial real estate services firm Transwestern Real Estate Services (TRS) have signed an agreement for TRS to provide property management services for two office buildings totaling more than 170,000 square feet.

 The properties, both owned by KBS Growth & Income Real Estate Investment Trust, include 213 W. Institute Place and 210 W. Chicago Ave. in Chicago’s River North submarket.

210 West Chicago Avenue, River North submarket,
 Chicago, IL
 

The buildings represent the second and third KBS-owned properties that Transwestern will provide asset services for in Chicago, with the first being Accenture Tower, owned by KBS Real Estate Investment Trust III, winner of an International TOBY Award.

 “KBS has a long history of identifying service providers who can deliver the superior level of quality management and care that our tenants and investors have come to expect from properties in our portfolio,” says Dan Park, asset manager for 213 W. Institute Place and 210 W. Chicago Ave. and senior vice president for KBS.

Dan Park
 

“Transwestern Real Estate Services has proven itself an extraordinary management team for Accenture Tower. We are excited to extend this top service to two more of our iconic office properties in the Chicago market.”

 River North is an affluent mixed-use submarket that continues to attract traditional corporate and creative office tenants as the area has evolved into a prominent location for both young, highly-educated professionals and the city’s premier decision-makers, according to Park.

213 W. Institute Place, River North submarket, Chicago, IL

“KBS recognizes the value of the River North submarket to offer the walkable amenities that Chicago office users are looking for,” says Park.

 “This region of the CBD offers an abundance of restaurants, bars, cafes, lounges and music venues. The ability to maintain a high-quality of life with a walkable urban environment has made River North the pre-eminent location for millennial employees, providing a best-in-class ‘live-work-play’ environment. KBS has been able to leverage these advantages to provide highly desirable office space.”

 Throughout the COVID-19 pandemic, the Asset Services group at Accenture Tower has been proactive – swiftly implementing sanitization and distancing protocol in accordance with CDC guidelines, communicating regularly with tenants, and maintaining tenant engagement through socially distant events for occupants who have returned to the office, according to Micah Larmie, Senior Vice President of Transwestern’s Midwest Asset Services Group.

 “We are thrilled to have the opportunity to expand our services for KBS and its Chicago office portfolio tenants,” says Larmie. “During the COVID-19 pandemic, our team has been working tirelessly to mitigate concerns and communicate with our tenants, and we will bring the same high level of service to 210 W. Chicago and 213 W. Institute.”

KBS Media Contacts:

 Lexi Astfalk or Jenn Quader

949.438.6262

kbs@brower-group.com

 

Ginny Walker

949.417.6535

gwalker@kbs.com

 

KBS Investor Relations Contact:

 

Matt Crary

KBS Associate VP – Investor Relations

949.717.6282

mcrary@kbs.com

www.kbs.com.

transwestern.com and @Transwestern.

KW PROPERTY MANAGEMENT & CONSULTING Welcomes James Baumgartner as District Manager in Tampa, FL

James Baumgartner 
 

TAMPA, FL – KW PROPERTY MANAGEMENT & CONSULTING, one of the residential property management industry’s premier companies, welcomes James Baumgartner as new District Manager in the Tampa Region.

 Baumgartner comes to KWPMC with over 30 years of experience in the hospitality, multi-family and community associations industry with a focus in other key areas to include customer service, capital improvement projects, building renovations, declarant transitions, commercial operations and more.

 Most recently, he was with another large management firm for 15 years where he held several leadership positions.  In addition to the West Coast of Florida, Baumgartner has worked in the Miami, Miami Beach, Atlanta and New York City markets throughout his management career and is now a resident of South Tampa. He is originally from Chicago and has lived in Florida since 1989.

 Baumgartner can be reached via E: jbaumgartner@kwpmc.com and C: (239) 322-9657

  

Contact:              

Daniel Benjamin

Senior Account Executive

BoardroomPR

dbenjamin@boardroompr.com

O 954-370-8999

C 954-618-8287

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

www.kwpmc.com.

New Townhomes near Lake Monroe, FL Planned by Henin Group; Moving Forward with National Homebuilder M/I Homes

Jerome Henin

SANFORD, FL – Henin Springview LLC, a subsidiary of The Henin Group which focuses on unique luxury neighborhoods and multifamily developments, has sold its planned Lake Monroe Shores to a national homebuilder. 

The 18-acre parcel was approved last year for 150 townhomes on the site at 2300 W. First Street in Sanford .

The Orlando Division of M/I Homes closed last week in January on the shovel-ready property located along the shores of Lake Monroe .   

The area is highly desirable with a hospital, historic downtown Sanford , a lakefront park and trails, employment corridors, and a mall nearby, said Jerome Henin, CEO of the Henin Group.

“We were delayed on the approvals and permitting during 2020 with the Covid-19 shutdown and the governmental agencies working from home,” Henin said.  Plans for the townhomes were approved and permitted after being rezoned from industrial to residential.

Construction is getting underway soon, according to Henin. “This development is a good fit for M/I Homes as they are currently building The Towns at White Cedar just a few minutes west on White Cedar Road off of SR 46. 

David Byrnes

Henin said the townhomes at Lake Monroe Shores will provide reasonably priced starter homes for Seminole County residents. 

They most likely will be priced starting in the mid $200,000s and include the homebuilders 15-year structural warranty. The three-and four-bedroom units are anticipated to start at 1,800 square feet.

M/I Homes also builds in the Henin Group’s award-winning Riviera Bella in DeBary where production homes are priced from the mid $200,000s and custom homes up to $2 million.

Contacts:              

Jerome Henin, founder/CEO The Henin Group, 

407-644-8595

or Jerome@henin-co.com.

David Byrnes, Area President or Daniel Kaiser, Vice President for Land, M/I Homes,

407-531-5100

Beth Payan, Larry Vershel Communications, 407-644-4142, 

407-461-3781 or beth@larryvershel.com


Stan Johnson Co. Closes $11 Million Sale of Ohio Distribution Facility for Above List Price

 Rob
Gemerchak
 FINDLAY, OH -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has announced the sale of a 180,000-square-foot industrial distribution center fully leased to American Plastics, a leading designer, manufacturer and distributor of innovative plastic-injection molded products.

 The property is located at 2040 Production Drive in Findlay, Ohio. Stan Johnson Company’s Rob Gemerchak, SIOR/CCIM, Jeff Hughes, SIOR, and Jeff Tracy represented the seller, a private Ohio-based developer.

 The property was purchased by Gladstone Commercial, an institutional investor based in McLean, Virginia. The facility traded for $11.0 million, representing a 5.5 percent increase over the asking price.

Jeff Hughes
 “The asset was well-positioned as a net lease distribution facility with highway accessibility and a compelling tenant story,” said Gemerchak, Director in Stan Johnson Company’s Toledo, Ohio office.

“We were successful in running an expedited and targeted sales program which garnered multiple qualified offers and resulted in achieving a sale price above the list price.”

 The distribution facility features a long-term net lease and is situated on eight acres near Interstate 75 in Hancock County. The building has been renovated twice since it was originally constructed in 1992, and nearby distribution tenants include Best Buy, Lowe’s, Kohl’s and Campbell’s Soup.

Jeff Tracy
Contact:              

 David Ebeling

Ebeling Communications

(949) 278-7851

david@ebelingcomm.com

Sunday, February 14, 2021

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 
The Real Estate Capital Institute® Chicago, Illinois USA 60622 

Thursday, February 11, 2021

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