Wednesday, November 10, 2010

NAI Realvest Negotiates $605,000 Sale of former Arby’s Restaurant Property to FDOT for roadway plans in Casselberry, FL

MAITLAND, Fla. – NAI Realvest recently completed the sale of a 2,599 square foot former Arby’s restaurant on a .66-acre site at 6700 S. US Highway 17-92 in Casselberry for $605,000.

The NAI Realvest team of Kevin O'Connor (top right photo) and Matt Cichocki (lower left photo), principals, negotiated the transaction representing the seller, CNL APF Partners, LLP of Orlando, and the buyer, Florida Department of Transportation (FDOT) in DeLand.  

Cichocki said the FDOT purchased the property as part of its right-of-way acquisition to facilitate the construction of the
US Highway 17-92 /SR 436 flyover.  The property is designated to become a retention pond, per DOT roadway plans.

For more information,  contact:
Matt Cichocki, Principal NAI Realvest, 407-875-9989,
Kevin O’Connor, Principal NAI Realvest, 407-875-9989,
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

New Publix Super Market at Aloma Shopping Center in Winter Park Schedules Grand Opening this month

WINTER PARK, Fla. – The sparkling new Publix Super Market at Aloma Shopping Center in Winter Park will be unveiled at a grand opening on Thursday, Nov. 18 at 8 a.m. 

John Crossman, president of Crossman & Company, said the original store was demolished last April and the newly constructed store has been expanded by more than 5,000 square feet.  The new 47,000 square foot facility includes a liquor store. 

Crossman & Company has been overseeing the redevelopment of the property and handles the leasing and management at the shopping center. 

“The new Publix breathes new life into the entire center,” Crossman said.  “Neighbors have been calling our office with compliments on the new design and are excited about the store opening,” he added. 

A unique feature of this store will be one of the most upscale specialty cheese departments in the Publix chain. 

Other shops at the center include the Aloma Cinema Grill, Pet Supermarket and Fedex/Kinko’s. 

Publix was one of the original tenants along with W.T. Grant Co. and Woolworth when the plaza opened in 1961.

For more information, contact:
John Crossman, CCIM, President, Crossman & Company, 407-581-6218,;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142,

Beech Street Capital Expands into Manufactured Home Community Lending

 BETHESDA, MD, Nov. 10, 2010 – Beech Street Capital announced that Damon B. Reed and Dan Armstrong have joined the firm and will lead the company’s expansion into manufactured home community lending.

Reed and Armstrong are based in the Birmingham, Alabama production office and will be responsible for originating manufactured home community loans on a nationwide basis.

“We are pleased about expanding our portfolio to include MHC loans,” said Grace Huebscher (top right photo), president and chief executive officer of Beech Street Capital.

“This is an asset class where we feel we can leverage our experience and expertise to deliver superior execution for our customers, so we see a lot of opportunity here. Having Damon and Dan on our team ensures our company will be well represented with these borrowers.”

“Beech Street Capital’s streamlined process and focus on the customer will make us a formidable player in this segment of the market,” Reed added.

Reed, a licensed California broker, and Armstrong join the firm as vice presidents. Prior to joining Beech Street Capital, both were with Berkadia Commercial Mortgage.

 The two oversaw manufactured home community lending there and at Berkadia’s predecessors, GMAC Commercial Mortgage and Capmark.

Reed and Armstrong have closed over $2 billion in manufactured
home community loans throughout their careers.

Damon Reed, Office: 205-991-6700, ext. 8191, Mobile: 205-601-2855
Dan Armstrong, Office: 205-991-6700, ext.8192, Mobile: 205-276-6457
Sharee Lawler (240-507-1923)

33 Inverness Center Parkway, Suite 150
Birmingham, Alabama 35242

HFF arranges $66 million construction/permanent loan for first U.S. location of Radisson Blu in Chicago’s Aqua tower

 CHICAGO, IL – The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $66 million construction/permanent loan for the development of the 334-room Radisson Blu Aqua Hotel (top left rendering) within Chicago’s mixed-use Aqua tower. 

HFF senior managing director Michael Kavanau (middle right photo) and director Daniel Kaufman  worked on behalf of the borrowers, Magellan Development and Carlson Hotels, to secure the seven-year construction/permanent financing from MassMutual who was advised by the Chicago finance office of Cornerstone Real Estate Advisers LLC.

 Total cost of the development is approximately $125 million. 

Due for completion in September 2011, the Radisson Blu Aqua Hotel will occupy floors four through 18 of the Aqua tower, an 82-story mixed-use development within the Lake Shore East Development along Lake Michigan.

This will be the first U.S. location for the Radisson Blu hotel brand, an upper upscale brand that has more than 190 hotels in 47 countries.  The location at 225 North Columbus is close to the loop financial district, Millennium Park, North Michigan Avenue and the Chicago lakefront.

“Carlson did an excellent job in selecting the Aqua tower as the location for its first Radisson Blu hotel in the U.S.,” said Kavanau. 

“Aqua tower is the crown jewel of the larger New East Side development and is an instantly recognizable part of downtown Chicago’s skyline,” added Kaufman.

Magellan Development Group is a Chicago based development company with a long track record of successfully operating in various market cycles and across numerous product types. The firm is led by Joel Carlins and James Loewenberg, two of Chicago’s most accomplished development professionals.

Carlson is a privately held, global hospitality and travel company headquartered in Minneapolis, Minn.

Carlson encompasses more than 1,075 hotels, including Radisson®, Country Inns & Suites By CarlsonSM, Park Inn® and Park Plaza®; more than 1,000 restaurants, including T.G.I. Friday’s® and Pick Up Stix®; and a majority stake in Carlson Wagonlit Travel®, the global leader in business travel management.

Carlson operates in more than 150 countries and its brands employ about 150,000 people.

Michael A. Kavanau, HFF Senior Managing Director, (312) 528-3650,
Daniel A. Kaufman, HFF Director, (312) 528-3650,
Kristen M. Murphy,  HFF Associate Director, Marketing, (713) 852-3500,

Marcus & Millichap Sells 130-Room Former Quality Inn in Clarksville, TN

CLARKSVILLE, TN, Nov.10, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of the former Quality Inn (top left photo), a 130-room hotel located in Clarksville, Tenn., according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $450,000.

Jaimin P. Patel (lower  right photo) a senior associate, and Jonathan S. Ruprai, investment specialist, both in the firm’s Tampa office, and Anne Williams, an investment specialist in the Memphis office, represented the seller, a financial institution based out of Utah.

 The buyer, a private investor in Tennessee, was secured and represented by Ruprai. 

The former Quality Inn was built in 1960 and renovated in 1989.  The property is located at 803 North 2nd Street and is within walking distance to the heart of downtown Clarksville.

Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700

Chatham Lodging Trust to Present at NAREIT REITWorld Conference on November 15

PALM BEACH, FL, Nov. 10, 2010—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on upscale extended-stay hotels and premium branded select-service hotels, will present to investors attending the NAREIT REITWorld Annual Convention, to be held Monday, November 15, 2010 in the Duke of Windsor Room at the Waldorf Astoria hotel, 301 Park Avenue in New York City. 

Jeffrey H. Fisher (top right photo), Chatham’s chairman and chief executive officer, Dennis M. Craven, Chatham’s chief financial officer and Peter Willis, Chatham’s chief investment officer, are scheduled to speak at 10 a.m. ET about the company’s business strategy, growth objectives and recent financial performance.

A live webcast of the presentation will be available at the Chatham Lodging Trust Web site, by clicking on “Investor Relations,” then clicking on the presentation link.

A replay of the presentation will be available for 90 days on and on the Chatham Web site for seven days after the presentation.  Please go to the site at least 5 minutes prior to the scheduled presentation.

Additional information about Chatham may be found at

Jerry Daly, Carol McCune, Daly Gray Public Relations, (Media), (703) 435-6293,
Dennis Craven, Chief Financial Officer, (Company),  (561) 227-1386,