Wednesday, August 25, 2010
McFadden and Bradford represented the Landlord, DA Metric LLC. The Tenant is the United States Postal Service.
Media Contact: Celeste MacKenzie, 321-281-8503 firstname.lastname@example.org
The hotels are the 86-room SpringHill Suites by Marriott® (top left photo) in Washington, Pa. and the 105-room Courtyard by Marriott® (middle right photo) in Altoona, Pa.
The hotels will continue to be managed by Concord Hospitality Enterprises.
The company now has closed on three of the hotels in a previously announced four-hotel portfolio. The fourth hotel, a Residence Inn by Marriott® in White Plains, N.Y., remains subject to completion of due diligence and other closing conditions as previously reported.
The company currently owns 10 hotels with an aggregate of 1,248 rooms/suites and has three additional hotels under contract to purchase. Additional information about Chatham may be found at www.chathamlodgingtrust.com.
Jerry Daly, Carol McCune, Daly Gray Public Relations(Media), (703) 435-6293,
Peter Willis, Chief Investment Officer (Acquisitions), (561) 227-1387,
NAI Realvest negotiates renewal lease agreement for 3,395 SF at Hanging Moss CommerCenter in Orlando
MAITLAND, FL. – NAI Realvest recently negotiated a renewal agreement for the lease of 3,395 square feet of office-warehouse space at Hanging Moss CommerCenter (top left photo)in Orlando.
Michael Heidrich, (bottom right photo) a principal at NAI Realvest, negotiated the agreement on behalf of the landlord COP-Hanging Moss, LLC of Maitland and the Jacksonville-based tenant, Fastenal, Inc., a worldwide distributor of fastenings and associated products, tools and equipment.
For more information contact:
Michael Heidrich, Principal, NAI Realvest, 407-875-9989 email@example.com
Patrick Mahoney, President, NAI Realvest 407-875-9989 firstname.lastname@example.org
Beth Payan or Larry Vershel Communications, 407-644-4142 Lvershelco@aol.com
CORE Construction Florida Awarded Contract to Build 80,000-SF Pine Berry Adult Living Facility in Clearwater, FL
SARASOTA, FL --- CORE Construction Services of Florida, LLC was recently awarded a contract to build the Pine Berry adult congregate living facility located on S. Highland Avenue in Clearwater.
John Wiseman, (top right photo) president of CORE Construction Services of Florida, LLC said construction of the 80,000 square foot facility recently started.
The contract was awarded by Pine Berry LLC, developer of the facility which will cost approximately $8.6 million to build.
CORE Construction Group has been in business since 1937 and ranks as one of the nation’s largest commercial contracting companies.
CORE Construction Group is also active in Illinois, Nevada, Arizona and Texas. CORE Construction Services of Florida has offices in Sarasota.
For more information, contact
John P. Wiseman, President CORE Construction Services of Florida LLC, 6320 Tower Lane, Sarasota, FL 34240 941-552-0240.
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142
DESTIN, FL, Aug. 24 /PRNewswire/ -- Uptown Corners has been acquired by local real estate investor, Ryan D. Jumonville (bottom left photo) , for $1.725 million.
This deal also includes an option to purchase the building next to Uptown Corners that is the current home to GulfSouth Private Bank.
Old Florida National Bank (Old Florida), (middle right photo) headquartered in downtown Orlando, expects the merger to be finalized in the late fourth quarter or early first quarter of 2011.
Randy Burden, chairman of Old Florida, and Geof Longstaff, (top right photo) chairman of Mercantile, jointly announced the merger.
Old Florida National Bank, formed in 1982, currently operates eight full-service retail banking facilities throughout Central Florida and Inverness, Fla. and boasts over $375 million in assets
Mercantile, the seven-year-old Altamonte Springs firm that specializes in U.S. Small Business Administration (SBA) 504 loans for owners of small to mid-sized businesses who want to acquire or develop their own facilities, has provided commercial loans in 30 states and Puerto Rico for more than $513 million in total project costs since it opened as Mercantile Commercial Capital, LLC in late 2002.
“Mercantile ranks as one of the largest and best known providers of SBA-504 lending in the nation,” Burden said.
“They have succeeded in developing a well-known and well-respected brand with a solid reputation in the small business community,” Burden added.
Longstaff, who has served as president of three banks in the area over the past three decades, said the merger brings substantial resources to bear on Mercantile’s effort to serve small business owners nationwide.
“Old Florida National Bank is a hometown bank well known for personal service to our customers and a smart, reliable approach to banking,” John Burden said.
“We are very pleased to offer Mercantile’s services to our customers and to further our service to Central Florida’s small business community,” he said.
“Our merger substantially expands the capital resources we can bring to the small business sector of the U.S. economy,” said Hurn.
Mercantile Capital Corporation will operate as a wholly-owned subsidiary of Old Florida National Bank. The combined entities are estimated to have nearly $400 million in total assets upon completion of their merger, making Old Florida one of the largest Orlando-based community banks.
For more information, contact John Burden, President Old Florida National Bank, 407-388-6136
Uniondale, NY (Aug. 24, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $13,600,000 loan under the Fannie Mae DUS® product line for the 369-unit complex known as Fairways Apartments (top left photo) in Fitchburg, WI.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.96 percent.
“The borrower recently renovated the property and repositioned the asset,” McNulty said. “Following the property’s lease-up back to a stabilized level, Arbor was able to refinance the borrower’s existing debt at an attractive rate while offering pre-pay flexibility.”
Contact: Christopher Ostrowski, email@example.com
READING, PA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of Exeter Commons (top left photo) , a grocery-anchored community center located at 4301 Perkiomen Ave. in Reading.
The sales price of $53 million represents approximately $149 per square foot, or a cap rate of 7.75 percent. The asset includes 356,000 rentable square feet.
Brad Nathanson, (lower right photo) a vice president of investments and senior director of the firm’s National Retail Group in Philadelphia, represented the seller, Exeter JV Associates LP. Nathanson also represented the buyer, Cedar-Exeter Commons LLC.
Anchored by Giant, Lowe’s and Target, the shopping center represents the best-in-class with a stellar lineup of national tenants.
“At a time when the market has been in transition and supply constrained, demand has been on the rise for quality Class A product, among both investors and lenders,” he adds.
“We received multiple offers on this asset after taking it to market because its rent roll consists of nearly 70 percent credit tenants.
Press Contact: Stacey Corso, Communications Department, (925) 953-1716
Buyer interest in multi-housing assets in Central Florida has increased significantly over the last few months. CBRE currently has several other properties under contract, and is generating more than 40 offers on some widely marketed offerings.
For further information, please contact the Central Florida Multi-Housing Group of CB Richard Ellis.
Shelton Granade, Senior Vice President, Central Florida Multi-Housing Group,
T 407 839 3103, F 407 404 5001, mailto:firstname.lastname@example.org
Luke Wickham, Director of Operations, Central Florida Multi-Housing Group,
T 407.839.3130, email@example.com
ATLANTA, August 25, 2010—Hunter Realty, a leading national hotel investment advisory services firm, today announced the opening of a new office in Miami, Florida that will focus primarily on the Florida and Caribbean markets. Stephen Taylor (top right photo) joins the company as vice president and will lead hotel brokerage services in Miami.
“As our hotel investment advisory services continue to grow, we seek the best talent to expand and complement our extensive expertise obtained over the past 30-plus years," said Teague Hunter, (top left photo) President of Hunter Realty.
" With the opening of this office, our seventh nationwide, and with the addition of top talent like Steve, we are well positioned to assist buyers and sellers as the hotel real estate market recovers.
“We believe Florida and especially Miami, Orlando and Tampa will be hotbeds of activity over the next 24 to 36 months as the economy recovers and the debt issues facing hundreds of hotel owners finally get resolved.
“We were especially attracted by Steve’s more than 30 years of specialized hotel/real estate experience as a broker, operator, developer and consultant. He brings unparalleled experience and expertise in Florida hotel real estate and adds significant depth to our national network with his strong, local, first-hand knowledge of multiple markets.”
Previously, Taylor served as managing director of the Miami office of a national hotel brokerage and consulting services firm.
Additional information, including current listings, is available at the company’s website http://www.hunterhotels.net/ or contacting the company’s Atlanta office at 770-916-0300.
Contact: Patrick Daly, media, (703) 435-6293, firstname.lastname@example.org