Friday, December 31, 2010

NAI Realvest’s new long term lease agreement brings Urgent Care Poinciana to Bellalago Shops Retail Center in Kissimmee, FL


 MAITLAND, FL --- NAI Realvest based in Maitland recently negotiated a lease agreement to bring Urgent Care Poinciana to the Bellalago Shops retail center, located at 3753-3763 Pleasant Hill Rd. in Kissimmee’s Poinciana area.
NAI Realvest Principal Christie Alexander (top right photo), Chairman George Livingston (top left photo) and associates Drew Saphos (middle right photo), CCIM and Paul Vera worked with design-builder CDG Healthcare Facilities for the 6,259 square foot medical offices.

Alexander, Livingston, Saphos and Vera negotiated the lease agreement representing the tenant, Urgent Care Poinciana, operated by Naples, Fla.-based Health Management Associates, Inc., which is affiliated with Heart of Florida Regional Medical Center in Haines City.

Ryan Holihan, currently with Brandon Partners, represented the landlord, Coral Gables-based PRII Pleasant Hill Associates, LLC.

 For more information, please contact:

Christie Alexander, Principal, NAI Realvest, 407-949-0704; calexander@realvest.com
George Livingston, Chairman, NAI Realvest, 407-875-9989; glivingston@realvest.com
Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com
Beth Payan, Larry Vershel Communications, 407-644-4142 lvershelco@aol.com
  

Stirling Commercial Group Negotiates New Office Lease with largest Railway Construction Corp in China at the Plaza in Downtown Orlando


ORLANDO, FL --- Stirling Sotheby’s International Realty Commercial Group recently negotiated a lease agreement at 189 S. Orange Ave. in the Plaza (top left photo) in downtown Orlando.

 Stirling Sotheby’s Commercial Group Associates James A. Mincy, John Kurtz and Erik Vasquez negotiated the lease for suite 1130B with 1,369 square feet   representing the landlord, ACM DT Properties LLC.

 The new tenant, CRCC Railway Construction USA Corp. based in Beijing, is China’s leading railway builder.   

 The tenant was represented by Winnie Mai of Keller Williams Advantage Realty. 

 For more information, contact:
James A. Mincy, Sales Associate, Stirling Commercial Group 407-581-5550;
Roger Soderstrom, Owner/Founder Stirling Commercial Group, 407-581-7890;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 



Wednesday, December 29, 2010

Another Deal Closed by Metro 1 Properties!


MIAMI, FL –  Salsa Fiesta, a casual restaurant that screams refreshing energy through flavorful Mexican-style food, is opening their first location in Broward County.   

 Metro 1 Properties’ Commercial Sales Director, Tony Arellano represented the tenant in the 10 year, 2,600 square foot lease.  The first expansion will be a restaurant in Cobblestone Plaza on Pines Boulevard just west of I-75 in Pembroke Pines. The restaurant is slated to be open March 2011.

Salsa Fiesta owners, Cesar Olivo and his wife, Adriana Pérez Benatar, opened their first location in 2009 at 2929 Biscayne Blvd in Midtown.  The first location has proved to be such a hit with the South Florida market that they plan on expanding their Venezuelan concept to several more locations. 

Salsa Fiesta is a GREEN restaurant for its eco friendly approach and Orange for its vibrant spirit.  Salsa Fiesta strives to provide real food.  Visit www.salsafiesta.com for more information.

 Contact:
Karen Maerovitz
Corporate Marketing Director
Metro 1 Properties, Inc.
Sustainable Real Estate Solutions™
120 NE 27th Street #200, Miami, FL 33137
O: 305.571.9991
F: 305.571.9661

2011 Economic Indicators Positive for Industrial Properties, Assisted Living Care Facilities, says NAI Realvest Chairman


 ORLANDO, FL. --- The economy appears to be improving slowly, if steadily in 2011, and some sectors of the commercial real estate industry are showing signs they may break out in the lead, says longtime investment analyst George Livingston (top right photo), chairman of NAI Realvest in Maitland.

 Citing a recent story in the National Real Estate Investor magazine, Livingston said “The volume of deals in the commercial real estate industry is up, and that’s good for the brokers.

“Many of those deals will be for distressed and foreclosed properties so the news is mixed for property owners, lenders and end users,” he added.

Industry growth depends almost wholly on job growth, Livingston explained, and substantial employment increases will require some real economic growth.

“On the whole, the economy appears positive for 2011. It won’t grow as fast as we would like but it appears we may have turned the corner of the recession,” he said.

“Two factors are volatile,” Livingston said. “And that will cause some investors to pay much more attention to their acquisitions.”

 Livingston said recent analyzes in National Real Estate Investor magazine indicate that investors may be altering their strategy slightly.

“Investors are seeking properties that offer higher yields,” Livingston said. “That means locations besides gateway cities where property values are lower but growth prospects are no worse than more urban areas,” he said.

Livingston said he expects industrial property absorption will grow in 2011. “The trend is there, and industrial absorption should be positive in 2011,” he said.

Adult living facilities — independent and assisted living and memory care projects — will see some of the sharpest growth trends in 2011.

“Adult living facilities are already seeing high demand,” Livingston said. “We are right on the cusp of the baby boomers’ retirement, and many of them are seeking secure facilities for their parents,” he said.

 For more information,  contact: 

George Livingston, Chairman NAI Realvest 407-875-9989; glivingston@realvest.com;
Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142, lvershelco@aol.com

Mercantile Capital Corporation Provides Commercial Real Estate Loan in Lady Lake, FL Worth over $1.3 Million


ALTAMONTE SPRINGS, FL – Mercantile Capital Corp, which ranks as one of the nation’s leading providers of U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities, closed a commercial loan for Abu Azizullah, MD, PA (lower right photo)  recently for $1,389,447 in total project costs.

Christopher G. Hurn (top right photo), chief executive officer at Mercantile Capital Corp., said Dr. Abu Azizullah is a board certified medical doctor specializing in internal medicine and certified by the American Board of Internal Medicine.  He earned his medical degree in 1987 at Dhaka Medical College in Bangladesh, and in 2006, he began his medical practice in Lady Lake.

“This loan process went much smoother than I expected,” said Dr. Abu Azizullah.  “Mercantile handled all of the paperwork, and I am so thankful for their knowledge and guidance.” 

The SmartChoice Commercial Loan Program helps owners of small to mid-sized businesses, like Abu Azizullah, MD PA, have an opportunity to create wealth and financial freedom.

Their specialization in SmartChoice Commercial Loans, also known as SBA 504 loans, allows borrowers to own their commercial property with the highest cash-on-cash return financing available, without tying up their precious capital, so they can grow even faster.

For more information, visit http://www.thesmartchoiceloan.com/
.
Contact:
Chris Hurn, CEO Mercantile Capital Corporation, 407-786-5040 churn@mercantilecc.com
 Larry Vershel or Beth Payan Larry Vershel Communications 407-644 4142 lvershelco@aol.com

Tuesday, December 28, 2010

Marcus & Millichap’s Denver Office Hires Two top Investment Specialists

  
 DENVER, CO, Dec. 28, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has hired James Coleman (top right photo) and Brian Haggar (middle left photo) as investment specialists in the Denver office, according to Michael Hoffman (lower right photo) a first vice president of the firm and regional manager of the Denver office.

In his new post, Coleman is a director of the firm’s National Hospitality Group, specializing in the sale of hotels in the Rocky Mountain region. Haggar joins the company as a senior associate and associate director of the National Multi Housing Group, specializing in the sale of multifamily assets in Denver.

“Both James and Brian are leading product specialists in the Denver area,” explains Hoffman.

“They will build on our office’s strengthening brokerage platform by providing private and institutional clients with access to a deep pool of nationwide capital, as well as in-depth expertise on the hotel and apartment investment markets.

“Their expertise will benefit investors across the state of Colorado since this is one of the most opportune times in the business cycle to acquire commercial properties.”

Most recently, Coleman was the chief development officer for LaPour, where he oversaw hospitality property acquisitions and dispositions in the United States. Coleman also held senior management positions with Hyatt and Stonebridge Cos. Coleman brings more than 15 years of experience in the hospitality property sector to his new position with Marcus & Millichap.

Haggar was previously a multifamily investment broker with Cassidy Turley, formerly Fuller Real Estate. For the past eight years, he has specialized in the acquisition and disposition of multifamily assets in the Denver MSA. Haggar has received numerous awards for production achievements as an investment broker and has consistently distinguished himself as a top performer.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

Healthcare Trust of America, Inc. Announces Completed Acquisition of 307,000 SF, 5-Building Medical Office Building Portfolio in 5 States


SCOTTSDALE, AZ/PRNewswire/ -- Healthcare Trust of America, Inc. ("HTA"), a self-managed, non-traded, real estate investment trust announced that it has acquired the fifth medical office building of a five-building portfolio (the "Portfolio"). 

The purchase price for the entire Portfolio was approximately $84,240,000.

HTA had previously acquired four buildings from the owner and developer, Rendina Companies, which brought the transaction directly to HTA.

The 98% leased Portfolio has a weighted average remaining lease term in excess of eight years and is comprised of five Class A on-campus medical office buildings totaling approximately 307,000 square feet.

The on-campus buildings are located in five states including Florida, Arizona, New York, Nevada, and Missouri. 

This announcement coincides with the completed acquisition of the fifth building known as the Wellington Medical Arts Pavilion III ("Medical Arts Pavilion").

HTA recently announced the completed acquisition of Gateway Medical Plaza (lower left photo), an approximately 60,160 square foot on-campus multi-tenant medical office building located in Tucson, Arizona; Des Peres Medical Arts Pavilion (lower right photo), an approximately 48,000 square foot on-campus multi-tenant medical office building located in St. Louis, Missouri; San Martin Medical Arts Pavilion (middle right photo), an approximately 73,300 square foot on-campus multi-tenant medical office building located in Las Vegas, Nevada; and Saint Francis Medical Arts Pavilion (middle left photo), an approximately 77,300 square foot on-campus multi-tenant medical office building located in Poughkeepsie, New York.


The Medical Arts Pavilion is an on-campus four-story medical office building that has been acquired for approximately $12,825,000.

 Located in Wellington, Florida, the Medical Arts Pavilion is an approximately 48,000 square foot multi-tenant medical office building that was completed in 2007 and is connected to Wellington Regional Medical Center (top left photo)  ("WRMC"), a 158-bed acute care hospital that has been providing healthcare services to the residents of Palm Beach County since 1986 and is a part of Universal Health Services, Inc. (Moody's credit rating of "Ba2").

The Medical Arts Pavilion is 100% leased and includes WRMC as a significant tenant, as well as other prominent affiliated tenants.

"This acquisition reflects HTA's continued success in securing direct transactions from our strong industry relationships.

This portfolio typifies our 2010 acquisitions as it has significant size, geographic diversification in strong markets, stabilized occupancy, and minimal near-term lease expiration exposure," stated Mark D. Engstrom (top right photo), Executive Vice President of Acquisitions for HTA. 

 "We have positioned HTA such that we work very well with all types of medical office owners and are both creative and flexible in our approach to structuring transactions".

Since January 1, 2010, HTA has acquired approximately $715 million in medical office and healthcare related assets based on acquisition price, including 3.09 million square feet of gross leasable area in 2010, which is 98% leased with an average remaining lease term of 9 years.

In addition, HTA has executed Purchase and Sale Agreements on additional medical office buildings and healthcare-related assets totaling approximately $106 million and approximately 490,000 million square feet.

For more information on HTA, please visit http://www.htareit.com/
 
Contacts:
 
Mark D. Engstrom, EVP - Acquisitions, +1-480-998-3478, markengstrom@htareit.com,  or
Kellie Pruitt, Chief Financial Officer, +1-480-998-3478, kelliepruitt@htareit.com
both of Healthcare Trust of America, Inc.; or
Media, Saskia Sidenfaden, Director of Financial Relations Board, +1-212-445-8300, ssidenfaden@mww.com,   for Healthcare Trust of America, Inc.

Web Site: http://www.htareit.com/

Marcus & Millichap Capital Corp. Arranges $4.25 Million Loan in New Jersey

     
WOODBRIDGE, NJ – Marcus & Millichap Capital Corporation (MMCC) has arranged $4.25 million in refinancing for a 14,917-square foot shopping center in Woodbridge, N.J.

Joshua Lipsey (middle left photo) and Michael Chavkin (top right photo), commercial loan associates in the firm’s New Jersey office, arranged the loan.

“The refinance was a take-out of a first mortgage and construction loan,” says Lipsey. “The existing lender did not honor the initial loan terms regarding the rollover permanent financing and also tied up $500,000 in a non-interest bearing account.

“The borrower wanted long-term permanent financing so the 20-year, self-liquidating loan fit perfectly into this investment strategy, “adds Lipsey.

The loan is fixed for 20 years at an interest rate of 6.10 percent. The LTV is 70 percent.

 “The demand for long-term money from our clients is very common,” Lipsey continues. “However, most portfolio lenders are not willing to extend past seven years.

“For this loan, we leveraged MMCC’s relationship with the lender to provide the client with exceptional terms including long-term money, burn-off recourse and a higher-than-market LTV,” he concludes.

 Press Contact: Stacey Corso, Marcus & Millichap Capital Corporation,

Monday, December 27, 2010

Record Year: More South Florida Resales In 2010 Than In 2006


 MIAMI, FL---More South Florida residences resold in 2010 than in the last year of the real estate boom in 2006 as buyers rushed in this year to take advantage of deep discounts on distressed properties and a government-funded $8,000 first-time home buyers tax credit, according to a new report from CondoVultures.com.

With a week left to go in this calendar year, nearly 75,000 single-family houses, condos, and townhouses - an average of 6,250 per month - have already resold in 2010 compared to less than 67,600 transactions - 5,600 per month - in 2006 in the same tricounty region of Miami-Dade, Broward, and Palm Beach counties, according to a new analysis from the licensed Florida sell-side brokerage CVR Realty™.

On a year-over-year basis, the number of resale transactions in 2010 is up 10.4 percent compared to 2009 when more than 67,800 transactions - 5,650 per month - occurred. South Florida resales totaled only 45,700 - 3,800 per month - in 2008 and nearly 47,600 - 4,000 per month - in 2007, according to the analysis based on Florida Association of Realtors data.

"Today's South Florida real estate market is strictly a function of price, not emotion,"  said Peter Zalewski (middle right photo), a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

"Nearly 7,400 more residential resale transactions have occurred in the year 2010 than in the year 2006 due in large part to the current prices that are an average of 40 percent less.

“ Now, consider the widespread concerns that exist today about a possible double dip in pricing or the lack of available financing, and then compare this current mood to the bullish outlook and easy credit of 2006."

The 2010 residential resale totals will be a topic at the upcoming Condo Vultures® third annual "State of the South Florida Condo Market" program on Jan. 25 in Downtown Miami. The keynote speaker is Zalewski, who will provide a statistical overview of the seven largest South Florida condo markets east of I-95 in the tricounty region.

Peter Zalewski of Condo Vultures® can be reached at 800-750-0517 or by email at peter@condovultures.com
.

Marcus & Millichap Capital Corp. Arranges $4.3 Million in Bridge Financing

  
ROCKLAND COUNTY, N.Y., Dec. 27, 2010 – Marcus & Millichap Capital Corporation (MMCC) has arranged $4,300,000 in bridge refinancing for a luxury multifamily asset in Rockland County.

Steven Rock (top right photo), a senior director in the firm’s Manhattan office, arranged the loan.

“MMCC was able to provide valuable insight to the borrower regarding the types of bridge financing available for this project in the current market and work within a tight construction timeline,” says Rock. “We closed the loan in less than 30 days including a pre-negotiated discounted payoff.
“Many developers/borrowers are having difficulty securing conventional financing and are willing to pay higher bridge loan rates to complete their projects,” adds Rock. “This luxury property is part of a master-planned community created by a world-class developer.

 Last year, MMCC closed more than 522 transactions in commercial real estate financing.

Press Contact: Stacey Corso, Marcus & Millichap Capital Corporation
(925) 953-1716

Friday, December 24, 2010

Grubb & Ellis|Commercial Florida Negotiates Office Leases Totaling more than 18,000 SF at Four Tampa Office Buildings

 TAMPA, FL. -- Grubb & Ellis|Commercial Florida, associated with 130 Grubb & Ellis offices worldwide, recently negotiated four lease agreements representing four tenants for office space totaling 18,097 square feet in four Tampa office buildings.

Richard Andretta, SIOR (top right photo) and Rob Turner (middle left photo) in the firm’s Office Services Group, represented LM Funding, LLC of Tampa a new tenant in Suite 400 with 6,592 square feet at the Seminole Furniture Building, 320 W. Kennedy Blvd.   The landlord is Best Evidence of Tampa.

Andretta and Turner negotiated another new lease for 5,160 square feet at LakeView at Hidden River, 8875 Hidden River Parkway representing the tenant Mutual of Omaha.   The landlord is St. Petersburg-based Osprey Lakeview, LLC. 

A renewal lease at Island Center, 2701 N. Rocky Point Drive was negotiated by Andretta and Turner for the law firm of Feldman, Fox & Morgado, P.A., the tenant who occupies Suite 1000 with 3,597 square feet in the building.  The landlord is PRISA Rocky Point FL, LLC. 

At Bayshore Center, 2909 W. Bay to Bay Blvd., Andretta and Turner negotiated another renewal agreement representing the tenant, Argon ST of Vienna, Va. for 2,746 square feet.  Diana Sparks of DMS Realty participated in the transaction representing the landlord, Bayshore Center LLC.

Contact:
Rob Turner or Richard Andretta, 813-639-1111
Patrick Kelly, Managing Director 813-830-7539
Larry Vershel Communications 407-644-4142

Dr. Ingrid Dunn to open medical office in Keith Ewing Medical Center at Avalon Park in East Orlando, FL

  
ORLANDO, FL. --- Dr. Ingrid Dunn (top right photo) will open an OB/GYN medical office on Jan. 17 in the Keith A. Ewing Medical Office Build in downtown Avalon Park off Alafaya Trail in East Orlando.

 There will be a grand opening event on January 18th, with a community open house 10 a.m. – 2 p.m. and a Ribbon Cutting Ceremony at 5:30 – 8:00 p.m.

 Stephanie Hodson, marketing director for Avalon Park Group, said Dr. Ingrid Dunn, an OB/Gyn physician, recently leased a 1,700 square foot suite at the Keith A. Ewing Medical Office Building.  

 Hodson said Dr. Dunn has clinical privileges at Florida Hospital and Winter Park Memorial Hospital. 

 Dr. Dunn is a member of the American Medical Association and American College of Obstetricians and Gynecologists.  

 “I appreciate and am very excited to have the honor of serving the Avalon Park community (downtown bottom left photo) and surrounding areas,” Dr. Dunn said.

 For more information, contact:
Stephanie Hodson, Marketing Director, Avalon Park, 407-658-6565
Beat Kahli, Founder/Owner Avalon Associates 407-658-6565 
Larry Vershel or Beth Payan, LV Communications, 407-644-4142

$4.15 Million Loan Arranged by Marcus & Millichap Capital Corp.



 COSTA MESA, CA – Marcus & Millichap Capital Corporation (MMCC) has arranged a $4,150,000 refinancing loan for a multifamily property in Costa Mesa.

Michael Derk (top right photo), a senior director/vice president capital markets in the firm’s Long Beach office, arranged the loan on the property.

“This was an off-market transaction so we had to work very quickly, especially with a client who was in an exchange,” says Derk.

 “We had to close the purchase money loan in two weeks using a private financing source. Immediately thereafter, we refinanced the property for the borrower, procured maximum cash-out proceeds and secured a below-market interest rate of 3.80 percent,” continues Derk.

“The borrower was extremely pleased with both closings we did for him and will look to us for future transactions.”

The loan is for 30 years, amortized over 30 years with an adjustable interest rate. The LTV is 60 percent.

Press Contact: Stacey Corso, Marcus & Millichap Capital Corporation
(925) 953-1716

Thursday, December 23, 2010

Analysis, Renegotiation Saves Developer More Than $2 Million, in Project Stalled By Real Estate Downturn


ST. PETERSBURG, FL --- In November 2009 development of the Meres Town Center (middle left photo)  grocery-anchored retail project in Tarpon Springs, Florida nearly ground to a halt when the site contractor – crippled by the real estate downturn – filed Chapter 11 bankruptcy and stopped paying subcontractors working on the project.

For investor/developer Forge Capital Partners, Meres Town Center was a $12 million, 55,000 square foot headache and a 20 year lease with a major grocery anchor hung in the balance.

Forge Capital Partners oversees Community Reinvestment Partners II, a real estate investment fund, and had little time to sort through the morass of details that endangered the Meres Town Center project.  

They turned to WeinPlus Real Estate Advisory Services in St. Petersburg for help.

Racl Elias Wein, AIA (top right photo), who heads WeinPlus, is a former development manager with the Sembler Company in St. Petersburg and senior associate with Ernst & Young’s Construction and Real Estate Advisory Services in Philadelphia.

With a Bachelor of Design, Master of Architecture and Master of Science in Real Estate Degrees from the University of Florida, Wein has the academic credentials to match her background in project analysis, management, finance, accounting and construction.

Wein started with a thorough review and analysis of the Meres Town Center project documents, including contracts, work orders, change orders and leases.

She identified ways Forge could cut losses, collect reimbursements, and negotiate new contracts to eliminate unnecessary fees.  She was hired immediately.

Wein oversaw the transition to a new contractor, assisting in negotiations and ensuring that the new contract protected Forge from any future legal complications.

An agreement with the city tested Wein’s forensic skills. Forge was owed substantial reimbursements for a nearly-built road, but the progress of payments required volumes of documentation proving project costs---an administrative nightmare.

Wein spent months working with subcontractors to segregate invoices that proved the reimbursements were due. 

She established relationships with a local government agency holding the reimbursement funds.

“The goal was to arm ourselves with information so that when the government asked for proof, we were able to respond in a very expeditious manner,” a Forge official says. “Our weapon was information, lots of detailed, verifiable information.”

Wein then turned her attention to the anchor tenant relationship, a critical one. Forge was at the beginning of a 20 year relationship with the anchor that could affect future Forge projects as well.

Wein identified LEED certification costs and construction utilities that could be recouped if Forge could document numerous payments. Wein worked with the anchor tenant to prepare documents that maximized reimbursements.

The  result?  Wein was able to recover or save more than $2 million for Forge, including $250,000 in defrayed contractor costs, $1.3 million for roadway reimbursements from the city and $500,000 in reimbursements from the anchor tenant.

Most importantly, Wein shored up a strong and trusting relationship with the tenant that promises future partnerships.

“I’m very familiar with bankruptcy situations and technically I could have done this on my own,” a Forge official explained, “but it would have been physically impossible. With Rachel on board, we could focus on deals that will yield a higher return on investment.”

Retaining a consultant with expertise in complicated construction projects was well worth the cost.  “The WeinPlus fee amounted to about five percent of the recovered monies, or a 20-fold return,” the official at Forge said.

Wein’s expertise and skills saved Forge time and money.   “We didn’t like the situation, but doing nothing wasn’t an option,” he said.


For more information, contact
Rachel Elias Wein, AIA, Founder / Principal, WeinPlus, 727-403-1595, http://www.weinplusassociates.com/;
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142, lvershelco@aol.com.
 


Atlanta Commercial Board of Realtors Names Lavista Associates’ Heather Lamb Young Realtor of the Year in Atlanta


ATLANTA - The Atlanta Commercial Board of Realtors (ACBR) recently named Lavista Associates’ Heather Lamb (top right photo) the Young Realtor of the Year in Atlanta.

Tom Davenport (middle left photo) president of Lavista Associates, said the ACBR also named Lamb its Member of the Month for December.

The ACBR’s Young Council of Realtors (YCR) names the region’s Young Realtor of the Year annually at the ACBR annual business meeting.

Nominees must be 36 years of age or younger, actively involved in the YCR and the Commercial Board of Realtors, display the Realtor spirit and represent a Realtor of high integrity in the Atlanta region.

The ACBR Board of Directors approved Lamb’s awards, Davenport said.  She was recognized in front of more than 300 of the industry’s most reputable professionals at the InterContinental Hotel in Buckhead. 

“It’s such an honor and quite humbling to be recognized by my peers in the profession,” Lamb said. “I am truly grateful that Lavista Associates afforded me the flexibility to volunteer time to real estate organizations like ACBR, YCR and CREW, and am so appreciative of the opportunities that have come my way as a result.  I couldn’t be happier about receiving this honor,” she said.

Lamb, a graduate of Georgia Institute of Technology, has worked as a licensed office broker at Lavista Associates since 2006 and has closed real estate transactions that total more than 600,000 square feet of space valued at more than $40 million.  

Lamb has been a member of the ACBR Million Dollar Club since 2007 and is actively involved with the Advisory Board of the YCR, Davenport said.  She is also chairman of the Membership Committee of Commercial Real Estate Women (CREW). 

“Heather Lamb was awarded the Young Realtor of the Year award for her commitment to the ACBR and her work as a Director of the YCR’s Advisory Board in 2010.

She served as Chairman of the Annual YCR Bus Tour in November, which highlighted the West Midtown submarket and gave YCR members an opportunity to earn three hours of free continuing education credit,” Davenport said.
  
For more information, contact:  
Tom Davenport, President Lavista Associates, Inc. 770-448-6400; tdavenport@lavista.com;
Kimberly Steele, Director of Marketing & Administration Lavista Associates, Inc. 770-729-2824; ksteele@lavista.com
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com
  

HFF arranges $21 million refinancing for Nexus Canyon Park in suburban Seattle, WA



 SAN DIEGO, CA – The San Diego and Portland (OR) offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have arranged a $21 million refinancing for Nexus Canyon Park, (top left photo) a 152,050-square-foot biotech/laboratory building in Bothell, Washington.

Working exclusively on behalf of Nexus Properties, Inc., HFF senior managing director Tim Wright, director Tom Wilson and associate director Zack Holderman (lower left photo) secured the loan with Prime Finance, a commercial real estate finance company with offices in San Francisco, Chicago and New York. 

The loan is refinancing a maturing loan on the property.

Nexus Canyon Park is fully leased to four tenants: VoiceStream (T-Mobile), Immunex (AMGEN), Epoch Pharmaceuticals and Acucela. 

 The property is located at 21720 23rd Drive SE less than one mile from Interstate 405 and about 15 miles northeast of downtown Seattle in Bothell.

“Nexus Canyon Park enjoys an excellent cost advantage to any new asset required to provide the build-out and mechanical capacity required by today’s biotechnology and communication tenants,” said Wright.

Founded in 1979, Nexus Properties, Inc. is a developer of high quality corporate facilities, biotech laboratories, and flex research and development properties throughout California, Washington, North Carolina and other markets.

Contacts:   
Timothy D. Wright, HFF Senior Managing Director, (858) 552-7690 twright@hfflp.com
Thomas F. Wilson, HFF Director, (503) 224-0444, twilson@hfflp.com
Kristen M. Murphy , HFF Associate Director, Marketing, (713) 852-3500,  krmurphy@hfflp.com
,                         

Historic Peabody Court Hotel Brings Upscale Wyndham Hotel Brand to Baltimore


 BALTIMORE, MD—The landmark Peabody Court Hotel (top left photo), located in historic Mount Vernon Square, has opened a new chapter in its legacy.

The 104-room hotel today became the Wyndham Baltimore Peabody Court, the city’s first hotel in five years to fly the flag of this upscale hotel brand.  The hotel is owned and operated by Silver Spring, Md. - based Sunburst Hospitality Corporation. 

To celebrate its re-opening under the Wyndham flag, the hotel is offering introductory rates and packages available on the hotel’s website, www.wyndham.com/hotels/BWIPC.

“Major upgrades to the rooms include the latest HD flat panel TVs and the upgraded Wyndham amenity package,” said Kevin Hanley (middle right photo), President and CEO, Sunburst Hospitality Corporation.

  “The hotel meets the high, upscale Wyndham standards, and we are taking further steps to enhance the hotel experience with a complete make-over of all the public space, which will take place in phases over the next six months to minimize guest disruptions.

“This historic property offers the ambiance of a classic, European boutique hotel right in the educational and cultural epicenter of the city,” he noted.

 “Built in the early 1920’s as a high-end apartment building, the hotel has become the leading gathering spot in this upscale neighborhood, and we have upgraded the property to reflect our surroundings.”

The hotel will target corporate travelers, as well as provide lodging and social and business meeting space for the many cultural, educational and medical facilities in the immediate neighborhood.

 “The Wyndham brand has a long tradition of addressing the needs of corporate travelers,” Hanley added. 

“And, the Wyndham Rewards frequent guest program offers generous rewards to its members.” 
Located at 612 Cathedral St. on Mount Vernon Square and 10 blocks from the Inner Harbor, the Wyndham Baltimore Peabody Court is renowned for its glass-enclosed 2,000-square-foot rooftop meeting space that offers a stunning bird’s eye view of Baltimore and Mt. Vernon Square.

 The property is centrally located near the Walters Art Gallery (lower left photo), many historic churches, Peabody Music Conservatory and is a short distance to the city’s major sports venues. 

The elegantly designed, oversized guest rooms feature full marble bathrooms, towel warmers, leather-inlayed work desks and custom French marble-top furniture.

The hotel’s restaurant, George’s on Mount Vernon Square, features innovative American cuisine paired with organic wines. 

Additionally, the hotel features six meeting rooms comprising 4,000 square feet of flexible meeting space and high-speed wireless Internet access.

 Additional information about the hotel may be found at www.wyndham.com/hotels/BWIPC.

  For more information about the company, visit www.snbhotels.com.

 Contact: Jerry Daly Daly, Gray Public Relations, (703) 435-6293