Friday, February 3, 2023

Hospitality Industry Public Relations Leader David “Jerry” Daly Dies at 78

David “Jerry” Daly
 

ASHBURN, Va., Feb. 3, 2023--Officials of DG Public Relations, LLC, today announced the death of company co-founder, David “Jerry” Daly on January 11, 2023, due to complications arising from aspiration pneumonia. 

 

While in graduate school at Boston University, Daly helped create the first Great American Smokeout, originally designed as a scholarship fundraiser for a local high school before he came up with the idea to get people to donate the price of a pack of cigarettes as the first step toward a commitment to quit smoking.

 

Daly’s first job out of undergraduate school was public relations director for the Tulsa Area Chapter of the American Red Cross.  While there he worked on a promotion that resulted in one of the largest and most successful blood drives up until that point. 




He later worked for multiple public relations agencies, including Burson-Marstellar and Harshe‐Rotman & Druck, before entering the hospitality sector with Holiday Inn and Harrah’s. 

 

Daly founded Daly Gray Public Relations, LLC, the predecessor of DG Public Relations, LLC, in 1987. 

 

During his career at that company, he was directly responsible for and/or oversaw multiple industry milestones: the first hotel crisis communications plan; the first hotel property-level Twitter campaign; the launch of more than a dozen hotel brands; the industry white paper on paper clip REITs; empowering women and minorities through hiring, mentorship and educational programs; winning more than 50 international, national and regional awards, including the Silver Anvil and four Golden Quills; and hosting the first world-wide employee meeting via satellite. 



 

 He also took great pride in being named Honorary Duck Master at the Peabody Hotel and winning a lifetime achievement award at the 20th annual Lodging Conference in Phoenix, Ariz.

 

Born Feb. 3, 1944, Daly is survived by his bride of 53 years, Katheryn; his children, Chris, Jason, Shannon, Patrick and Andrew; and his grandchildren, Finn and Lilah. 

 

-

 Contact:

 

Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.dalygray.com

 

Ware Malcomb promotes Rob Kiester to Director, Architecture in Denver, CO office

 

Rob Kiester

DENVER, CO – Ware Malcomb, an award-winning international design firm, today announced that Rob Kiester has been promoted to Director, Architecture, in the firm’s Denver office. In the role, he will lead the Architecture Studio in the Denver office. 

Kiester, a licensed architect in Colorado and California, has more than 12 years of experience in the architecture field leading significant projects from initial master planning and design stages through construction completion.

 

His experience includes industrial, office, public, retail and restaurant project types.

In 2016, Kiester joined Ware Malcomb as a Project Manager and, in 2018, was promoted to Studio Manager, Architecture, while also leading the Denver office’s Advanced Manufacturing Studio.

 

Kiester champions the application of advanced technology, including Revit, Enscape, Twin Motion and drone videos, creating new opportunities with clients and positioning the Denver office at the leading edge of technological expertise in the region.

“Rob’s dedication to client relationships, project management and staff mentoring has made him instrumental to the growth of the Denver office,” said Matt Chaiken, Vice President, Ware Malcomb.

 

Matt Chaiken

“He is a true champion of Ware Malcomb’s culture, promoting all studios in the Denver office at every opportunity. We congratulate him on his promotion and look forward to his continued leadership.”

Kiester earned a Bachelor of Science in Construction Management from Brigham Young University and a Master of Architecture from University of Colorado. He is certified by the National Council of Architectural Registration Boards.

Contacts:

 Rachel Devany

VP Public Relations

 KCOMM for Ware Malcomb

rachel@kcomm.com

 

Maria Rodgers, Director,

 PR & Communications

 949.660.9128

 mrodgers@waremalcomb.com

 

Maureen Bissonnette,

 Principal, Marketing

 949.660.9128

 mbissonnette@waremalcomb.com


waremalcomb.com

 

http://www.waremalcomb.com/news/  https://www.youtube.com/waremalcomb

 

Thursday, February 2, 2023

Ware Malcomb promotes Maria Rodgers to Director, PR and Communications

 

Maria Rodgers 

IRVINE, CA, Feb. 2, 2023 – Ware Malcomb, an award-winning international design firm, today announced that Maria Rodgers has been promoted to Director, PR & Communications.

  In her role, Rodgers will focus on further expanding the firm's media and communications programs and gaining exposure for Ware Malcomb’s growing number of offices across the Americas. 

             Ware Malcomb, Irvine, CA

 Rodgers joined Ware Malcomb in 2014 as Marketing Coordinator and, in 2018, took on responsibility for the firm’s public relations program.

  In 2020, Maria transitioned from the Irvine headquarters to the Newark office. In 2022, she was promoted to PR & Communications Manager, helping to secure a record number of media mentions for Ware Malcomb. 

 Throughout her career, Rodgers has managed significant communications initiatives for the firm, including PR strategy, thought leadership, media relations, social media, digital marketing and design awards/rankings. 

Maureen Bissonnette

“Maria is an invaluable leader on the Marketing team,” said Maureen Bissonnette, Principal, Marketing for Ware Malcomb. “Her drive, collaboration and commitment to the success of our team and firm have helped us attain new levels in our industry.

 "We are appreciative of her dedication and congratulate her on this promotion.” 

 In addition to her public relations leadership, Rodgers is a member of Ware Malcomb’s Diversity, Equity & Inclusion Communications Committee.

Ware Malcomb, Oak Brook, IL

 She also collaborates with the Strategic Initiatives and HR teams on internal and executive communications, as well as leadership onboarding.

  Rodgers earned her MBA from California State University, San Marcos and is an active member of the New Jersey chapter of Public Relations Society of America.

Contacts:

 Rachel Devany

VP Public Relations

 KCOMM for Ware Malcomb

rachel@kcomm.com

 

Maria Rodgers, Director,

 PR & Communications

 949.660.9128

 mrodgers@waremalcomb.com

 

Maureen Bissonnette,

 Principal, Marketing

 949.660.9128

 mbissonnette@waremalcomb.com


waremalcomb.com

 

Dream Finders Homes Now Selling in Phase 3 of Dunn’s Crossing in Jacksonville, FL; Several Opportunities Still Remain in Phase 2

Brad Muston
 JACKSONVILLE, FL  – Phase 3 of Dream Finders Homes’ premier community of Dunn’s Crossing is now open.  

Several opportunities – including quick move-in homes – still remain in Phase 2 of the single-family home community located at 11222 Robert Masters Court in Jacksonville. 

Prospective homebuyers may choose from eight one- and two-story floorplans ranging from 1,711 to 2,554 square feet of living space with prices starting in the high $200,000s, according to Brad Muston, Division President.  

“We have seen steady traffic at this community, and with square footage comprising three to five bedrooms and two to four baths, families of all sizes are finding the perfect fit at Dunn’s Crossing,” Muston said.

Dunn's Crossing model,
11222 Robert Masters Court
 in Jacksonville, FL
 

“Our Dunn’s Crossing neighborhood offers the perfect balance of great location and quiet living,” Muston said, mentioning its close proximity to the Jacksonville International Airport, River City Marketplace and the Jacksonville Zoo.

For more information about the community, please call 888-208-7736 or visit dreamfindershomes.com/jacksonville/dunns-crossing/.

Contacts:

Brad Muston,

division president

 Dream Finders Homes

888-208-7736  Brad.Muston@dreamfindershomes.com

Alesha Gan

 Marketing Coordinator

 Dream Finders Homes

 Alesha.Gan@dreamfindershomes.com   

Beth Payan,

 Larry Vershel Communications

 407-461-3781

beth@larryvershel.com

 

Northmarq’s Atlanta office announces $15.2 million sale of Westpark Walk in South Atlanta, GA

 

Westpark Walk, a 73,847-square-foot
 shopping center located at
 400 Commerce Drive in
 Peachtree City, GA

ATLANTA, GA — Northmarq’s Jeff Enck, associate vice president, and Emery Shane, senior vice president, have completed the sale of a 73,847-square-foot shopping center located at 400 Commerce Drive in Peachtree City, Georgia.

 The center is 100 percent leased to 21 tenants. Enck and Shane represented the seller, an individual investor based in Washington, D.C. An Atlanta-based developer acquired the asset for approximately $15.2 million.

Jeff Enck

“The property is an excellent landmark shopping center at the busiest intersection in Peachtree City with a long history of high occupancy by local and national tenants,” said Enck. 

“Despite the rising interest rate environment, we were able to generate multiple offers from across the country and ultimately close with an investment group based in Atlanta. There was no lack of investor interest in this superb asset.”

Approximately 20 miles southwest of Atlanta and at the corner of Highways 54 and 74, Westpark Walk draws a combined 79,000 vehicles per day. 



The shopping center’s tenants include Tuesday Morning, Verizon Wireless, State Farm, Firehouse Subs, Hotworx, and local service providers and retailers.

 One tenant, Ranchero Mexican Grill, has been in Westpark Walk for over 33 years, and several tenants have been at the center for over 20 years.


The property is situated on 5.41 acres and surrounded by several super regional traffic generators such as The Avenue Peachtree City and The Shoppes at Peachtree City. 

Neighboring national retailers including Walmart, Home Depot, Best Buy, Aldi, TJ Maxx, HomeGoods, and more. Peachtree City is home to over 62,000 people with an average household income over $134,000 within 5 miles.
 

 contact:

David Ebeling

Ebeling Communications
949.861.8351
949.278.7851 (Cell)
Member of the National Association of Real Estate Editors (NAREE)
“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”
 

 

JLL’s Hotels & Hospitality Group closes sale of 655-key hotel at 525 Lexington Avenue in Midtown East New York City

Gilda Perez-Alvarado
 

NEW YORK, NY, Feb. 2, 2023 – JLL’s Hotels & Hospitality Group announced today that it has closed the sale of 525 Lexington Ave., a 35-story, 655-key, full-service hotel in New York City’s Midtown East neighborhood. The parties have agreed to not disclose the purchase price.


Stephany Chen

JLL represented the seller, Deka Immobilien, in the sale to a joint venture of Hawkins Way Capital and Värde Partners. The hotel, which was formerly branded as the Marriott New York East Side, was closed at the time of sale and offered unencumbered by brand and management.


Jeffrey Davis

Originally constructed in 1922 as one of the first skyscraper residential hotels, the hotel received landmark status in 2016 cementing its historical significance to Midtown.

 

 The transit-oriented hotel is located within walking distance of nine subway lines providing easy access to all five boroughs.


Bob Knakal

The property is also within walking distance of popular tourist sites, including Bryant Park, New York Public Library, Grand Central Terminal, Grand Central Market, Chrysler Building and more.

 

The JLL Hotels & Hospitality team representing the seller was led by Co-Head of US Investment Sales, Senior Managing Director Jeffrey Davis and Global CEO Gilda Perez-Alvarado, with support from Executive Vice President Stephany Chen and Chairman NY Investment Sales Bob Knakal.

 

“New York City is experiencing a renewed interest among investors as lodging fundamentals rebound at phenomenal levels. We anticipate continued interest among groups for strategic opportunities as the city continues to recover,” said Davis.


SOLD:  525 Lexington Ave.,
 a 35-story, 655-key, full-service
hotel in New York City’s
Midtown East neighborhood.

 

JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide.

 

The group’s 350-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments.

 

Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.

 

For more news, videos and research resources on JLL, please visit our newsroom.

 

Contacts:

 

Cierra Lacasse,

JLL Associate,

 Public Relations

Phone: +1 602 648 8701

Email: Cierra.Lacasse@jll.com

 

www.hawkinsway.com

jll.com.

www.varde.com.

 

 

 

 

 

 

 

Wednesday, February 1, 2023

Bond Markets respond to Fed rate hike by dropping 10-year treasury yield by 8 percent

John Oharenko

 Chicago, IL, Feb. 1, 2023 – It's all about the Fed.  The Fed raised rates by a quarter point today and announced that another quarter-point increase should be expected at the next meeting.

  The bond markets responded by dropping the 10-year treasury yield by more than eight percent.  

 

As consumer spending slows on retail goods, the Fed focuses on controlling wage inflation.  The Fed's leadership suggested that a 5% interest rate would help reduce inflation. 

 

The new annual inflation target is likely to hover in the 2.5%-to-3% range instead of the 2% benchmark that has existed since the end of the Great Recession. 

 

 In addition to Fed news, a couple of other "hot" topics realty investors face include negative leverage, yield fatigue and strict underwriting:

 

Negative Leverage:  As long as mortgage rates exceed cap rates, negative leverage keeps investors sidelined.  The dramatic bid-ask pricing differential discourages more market liquidity.   However, select players bet on inflation protection to lift overall yields during the later years of the projected holding period.  Alternatively, unleveraged buyers (e.g., pension funds) remain committed to income-property real estate, especially core and core-plus assets.  Also, many investors believe mortgage rates will drop as the economy cools.  Cap rates will remain steady due to a limited supply of desirable properties.



Yield Fatigue:
  Ample funds, but equity yields get absorbed by higher mortgage rates, even with lower leverage levels (e.g., 50% to 65% LTV).  Mid-three-percent-or-less yields discourage many investors from such deals plagued by "yield fatigue," even with the expectation of upside from inflationary profits.  Alternative stock market investments gain favor, including publicly held real estate companies trading below private equity prices.




Strict Underwriting:  Unlike previous real estate economic cycles, short-term lenders maintain strict discipline for underwriting value-add and construction ventures, particularly for new deals.  Banks and other financial institutions worry about balance sheet reserves for existing projects nearing stabilization as regulators monitor portfolios for too many loan extension risks.  Takeout lenders and an absence of buyers add more concern as long-term debt burdens owners with higher mortgage rates based on fewer proceeds.  As has been the case for much of last year, debt service coverage limits loan proceeds instead of LTV ratios.   At the same time, developers are resizing return-on-cost yields to reflect higher debt costs and risk, adding 100 to 150 basis points to exit cap rates.



John Oharenko
, director of The Real Estate Capital Institute's® director, suggests, "Investors place more emphasis on patience this year.  Taming labor and operating costs rank as key factors managing properties, as few new opportunities exist."

 

# # #

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 / www.reci.com

 

The   Real Estate Capital Institute®

Chicago, Illinois USA 60622