Colliers International Completes $4 Million Multifamily Sale in Marina Del Rey, CA

MARINA DEL REY, CA.  - Colliers International, the second largest global real estate services organization, has completed the investment sale of a 6,316-square-foot apartment building located at 15 Outrigger Street (top left photo), Marina Del Rey, Calif. The transaction sold for $4 million.

 Kitty Wallace (middle right photo), executive vice president, based in Colliers International’s West Los Angeles office, represented both the Buyer, a Los Angeles-based real estate investment firm, and the Seller, private investors based in Hawaii.

 The Outrigger Apartments is located on the prestigious Marina Peninsula, just steps from the sand and the canals. The four-story asset was built in 1972 and was renovated in 1982. The property’s spacious floor plans and parking ratio of 2.55 spaces per unit creates the opportunity for a condominium conversion further down the road.

  “Almost immediately, we saw tremendous interest in the Outrigger Apartments. As expected the property scored well with investors due to its coastal location, impeccable condition, and 100% occupancy rate,” said Wallace.  “There was an aggressive bidding war over the asset and it finally sold at list price with $100,000 hard money up front to a 1031 exchange Buyer.”

 “The fact that the property sold for $444,444 per unit and a 3.84 CAP Rate is an excellent indicator that class-A markets of the city continue to draw top market values regardless of the recession. There is always demand for high-end properties in good neighborhoods,” added Wallace.

Additionally, the property has an excellent unit mix with one one-bed, one-bath unit, two one-bed, one-bath, plus a loft and patio units, four two-bed, two-bath units, and two two-bed, plus a loft and patio units.

The units are all spacious, have walk-in closets, balconies, and fireplaces in every bedroom and living room. Most units have double-paned windows and three have washer/dryer hook-ups. Common area amenities include 23 parking spaces, an elevator, a laundry room, and controlled access entry.

Colliers International Negotiates Three Industrial Deals Totaling $13.75 Million in Greater Los Angeles

 LOS ANGELES, CA – Colliers International, the second largest global real estate services organization, has negotiated two industrial leases and an industrial sale totaling $13.75 million in the Mid-Counties Market in Greater Los Angeles.

 Chris Sheehan (middle right photo), SIOR, senior vice president, and Adam Deierling (lower left photo), vice president, based in Colliers International’s Torrance office represented tenants and user in all three transactions.

 The first transaction, an industrial property located at 13226 Alondra Blvd., Cerritos, Calif., is valued at $10.56 million. Built in 1981, this 128,000-square-feet industrial property will be used as a distribution and light manufacturing center by the new buyer who will also build 4,000-square-feet of new office space. The seller, Scope Properties, LLC, was represented by Ted Carpenter of Carpenter & Associates. Deierling and Sheehan represented the buyer, Achem Industry America, Inc.

The second transaction was a five-year lease for a total of $2.214 million in consideration for a 102,576-square-feet industrial property located at 13930 – 13950 Mica St., Santa Fe Springs, Calif. Prologis California LLC was the landlord in this deal.

Sheehan and Deierling along with Phil Norton, senior vice president, based in Colliers’ Commerce office represented the tenant, Capitol Distribution, a Santa Fe Springs-based bulk food distribution company. This property was built in 1980 and will be used as warehousing and distribution center for bulk food by the new tenant.

Lastly, Deierling and Sheehan along with Josh Hayes, vice president based in Colliers’ Ontario office, negotiated a 50-month lease for a property located at 14659 Alondra Blvd., La Mirada, Calif. for the tenant, Royal Sugar, LLC, a New Jersey-based food distribution company. The transaction is valued at $942,824. Prologis California LLC was once again the landlord in the deal. This property was built in 1970 and will be used as a processing and distribution center of sugar by the new tenant.

 “These deals demonstrate the active owner/user demand prevalent in the market today,” said Deierling.

 “We are seeing more confidence from tenants and owners/users in the marketplace willing to commit to longer term leases and purchase,” added Sheehan.

 Contact:

Angela S. Hwang

Regional Marketing Coordinator | Greater Los Angeles

Dir +1 213 532 3258 | Mob +1 310 867 4105

Main +1 213 627 1214 | Fax +1 213 327 3258

angela.hwang@colliers.com

http://www.colliers.com/

Follow us at www.twitter.com/colliersgla

Foreclosure Activity Decreases 9% in April, According to RealtyTrac’s U.S. Foreclosure Market Report

  

IRVINE, CA— RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, released its U.S. Foreclosure Market Report™ for April 2011, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 219,258 U.S. properties in April, a 9 percent decrease from March and a 34 percent decrease from April 2010. The report also shows one in every 593 U.S. housing units received a foreclosure filing during April 2011.

“Foreclosure activity decreased on an annual basis for the seventh straight month in April, bringing foreclosure activity to a 40-month low,” said James J. Saccacio (top right photo), chief executive officer of RealtyTrac. “This slowdown continues to be largely the result of massive delays in processing foreclosures rather than the result of a housing recovery that is lifting people out of foreclosure.

“The first delay occurs between delinquency and foreclosure, when lenders and services are no longer automatically pushing loans that are more than 90 days delinquent into foreclosure but are waiting longer to allow for loan modifications, short sales and possibly other disposition alternatives,” Saccacio continued.

“Data from the Mortgage Bankers Association shows that about 3.7 million properties are in this seriously delinquent stage. The second delay occurs after foreclosure has started, when lenders are taking much longer than they were just a few years ago to complete the foreclosure process.”

For a complete copy of the report, please contact:

Michelle Sabolich

Atomic Public Relations

415.593.1400, ext. 1233

michelle.sabolich@atomicpr.com 

$23 Million Office Portfolio Trades in Tennessee

FRANKLIN, TN, May 12, 2011– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of a 133,200-square foot office building portfolio in Franklin. The sales price of $23 million represents $173 per square foot.

Joseph Massa, a senior associate in the firm’s Nashville office, represented the seller, a local real estate partnership managed by Preston Ingram.

 Drew Babcock and Scott Taylor, net-leased investment specialists in Marcus & Millichap’s Columbia, S.C., office, represented the buyer, Windcross Realty, an Orlando, Fla.-based investment group led by Ed Wideman, president of Susquehanna Holdings Ltd.

“Both buildings are currently 100-percent occupied by United Healthcare, a subsidiary of UnitedHealth Group, which is one of the nation’s leading health care companies,” says Massa.

“The leases are absolute, triple-net and contain 3 percent annual increases, “adds Babcock.

“The Cool Springs office market is desirable for a variety of tenants because of its central location and ease of access,” concludes Taylor.

The property is located at 1009 and 1021 Windcross Court in the Cool Springs suburban business district, which is located primarily within the city of Franklin. Approximately 92 percent occupied, Cool Springs is home to 37 corporate headquarters. The portfolio’s location is near Interstate 65, approximately 10 miles south of Nashville.

Constructed in 1999 and 2004, the two buildings encompass 133,200 square feet of space.

Financing for this transaction was arranged by Wells Fargo Capital Mortgage Group of Orlando, Fla. The group is headed by Bill Lee, J. T. Tomlinson and Steve Markowski, notes Wideman.

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

Pacific Office Properties Recapitalizes City Square; Enters Joint Venture to Support Midtown Phoenix Landmark

PHOENIX, AZ  (May12, 2011) - Pacific Office Properties Trust, Inc. (NYSE Amex: PCE) has renewed its long-standing investment in Phoenix with the recapitalization of City Square (top left rendering), a collection of three Class A office towers in the midtown submarket, and one of the city’s largest and most prominent mixed-use projects.

As part of the recapitalization, Pacific Office Properties has partnered in joint venture with Angelo, Gordon & Co., a privately held investment manager with approximately $23 billion of assets under management. Together, the partners have initiated more than a dozen joint ventures and more than $950 million in total acquisitions.

Jones Lang LaSalle Managing Director John Bonnell and Vice President Brett Abramson in Phoenix are the exclusive leasing brokers.

“We have owned property in Phoenix for many years and are confident about the market’s recovery, as well as the long-term growth and viability of the Central Business District,” said Pacific Office Properties Senior Vice President Brigham Black.

“Managing and maintaining City Square as a local real estate landmark is a high priority for our company. The recapitalization of this property provides us the continuity of resources to make that happen.”

City Square is part of 1.2 million square feet of Phoenix office space owned and managed by Pacific Office Properties. The 722,000-square-foot project is located at 3800, 3838 and 4000 N. Central Avenue in Phoenix, just south of Indian School Road and along the Phoenix Light Rail line.

Amenities include a 156-room Hilton Garden Inn, 35,000-square-foot Sports Club at City Square, conferencing facility, barbershop, restaurants, dry cleaner, on-site day care and on-site banking. It also provides 24-hour guard service and management and engineering on site.

For more information, contact Brigham Black at (858) 882-9510 or bblack@pacificofficeproperties.com , or John Bonnell at (602) 282-2656 or john.bonnell@am.jll.com

. 

 Media Contact: Stacey Hershauer, focusAZ, Marketing & Public Relations

(480) 600-0195, stacey@focusaz.com

 http://www.focusaz.com/

Colliers International to Host Global Retail Runway at ICSC Annual Conference

SEATTLE, WA /PRNewswire/ --Colliers International announced  that senior retail specialist Jim McMasters (top right photo) has been selected by the International Council of Shopping Centers (ICSC) to serve as master of ceremonies for the Global Retail Runway at RECon, the organization's upcoming convention in Las Vegas, May 21-25.

RECon annually draws more than 35,000 retail professionals from around the world, and serves as a critical source of deal making and networking activity for the entire industry.

A 90-minute program including up to 25 of the world's premier retailers, the Global Retail Runway provides attendees--consisting of retailer professionals as well as retail real estate owners, operators and investors--the opportunity to learn about innovative and successful endeavors from a cross-section of national and international brands.

Contact:: Richard Mulieri, Richard@themarino.org, or Russ Colchamiro, Russ@themarino.org,  both of The Marino Organization, +1-212-889-0808

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

Mercantile Capital Corporation Best First Quarter Ever is Lead-in to Projected Major Loans in May

ALTAMONTE SPRINGS, FL. --- Mercantile Capital Corporation, which earlier reported its best first quarter ever in 2011 with 15 commercial property loans to finance projects that total more than $54.8 million — a 44.6 percent increase over the same period in 2010 — projects record or near record transactions scheduled for May. 

Chris Hurn (top right photo), chief executive officer of Mercantile Capital Corporation said seven commercial loans scheduled to close in May will finance real estate projects valued at more than $11.7 million in three states. Mercantile Capital Corporation closed two loans in April for projects that total more than $1.7 million in Massachusetts and Illinois.

Mercantile Capital Corporation, a wholly-owned subsidiary of Old Florida National Bank, is one of the nation’s leading providers of U.S. Small Business Administration (SBA) loans for small business owners who want to acquire or develop their own facilities. Additional information about Mercantile can be found at www.504Experts.com and www.504blog.com.

For more information about this press release, contact:

Chris Hurn, CEO Mercantile Capital Corporation, ChrisHurn@MercantileCC.com,

 407-786-5040

Geof Longstaff, Chairman Mercantile Capital Corporation, glongstaff@mercantilecc.com,  407-786-5040

Larry Vershel or Beth Payan Larry Vershel Communications, 407-461-3780, or 407-644-4142

Zachary Scardinia Joins Cambridge Realty Capital as Junior Loan Officer and Financial Analyst

CHICAGO, IL---Zachary Scardina (top right photo), 23, has joined Cambridge Realty Capital Companies as a Junior Loan Officer and Financial Analyst, Chairman Jeffrey A. Davis has announced.

A graduate of DePaul University with a double major in real estate and finance, Scardina initially joined Cambridge as an associate in the company’s internship program in May 2010. Responsibilities in his new position will involve him directly in a variety of activities including underwriting and financial analysis, deal presentations, loan originations, and acquisitions.

At DePaul, Scardina was active in the DePaul Real Estate Organization and Alpha Kappa Psi, a professional business fraternity.

Uniquely, Davis points out that all of the company’s senior executives were originally introduced to Cambridge as associates in the company’s internship program.

Contact:

Evan Washington

Phone: (312) 521-7604

Fax: (312) 357-1611

E-Mail:  ew@cambridgecap.com

Twitter: http://twitter.com/CambridgeCap

HFF Houston hires Ryan West as managing director to focus on retail investment sales

 HOUSTON, TX – HFF announced today that Ryan West (top right photo) has joined the firm as a managing director in its Houston office to focus on retail investment sales transactions throughout the southwestern United States.

Mr. West joins HFF from CBRE, where he was a first vice president in the private client group since 2007. 

During this time, he was recognized as a Top Producer in their Houston office and as a Top 10 Producer within the network of brokers that make up CBRE’s Private Client Group. 

Mr. West began his career at Wulfe & Co. and later worked with Baker Katz.  He is a licensed real estate salesperson in the state of Texas and is a member of International Council of Shopping Centers.  Mr. West graduated from Texas A&M University.

“With the addition of Ryan, HFF Houston is able to expand its investment sales platform to better serve our retail clients.  We look forward to drawing upon Ryan’s expertise in the retail sector and feel he will be a tremendous asset to not only the Houston office of HFF but our national retail group as well,” said Scott Galloway (bottom left photo), executive managing director in HFF’s Houston office.

Contacts:  

H. Scott Galloway, HFF Executive Managing Director, (713) 852-3500, sgalloway@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500

krmurphy@hfflp.com

HFF represents Moore & Associates, Inc. in $17.5 million sale of 1701 and 1711 Research Boulevard in Rockville, MD

 WASHINGTON, D.C. – HFF announced  it has closed the sale of 1701 and 1711 Research Boulevard (top left photo), a 104,703-square-foot office building and 177,000-square-foot development parcel in Rockville, Maryland.

HFF marketed the property on behalf of Moore & Associates, Inc.  BioMed Realty Trust, Inc. purchased the property for $17.5 million.

1701 and 1711 Research Boulevard are situated on 13.3 acres immediately west of and visible from Interstate 270 about 15 miles northwest of Washington, D.C. in Rockville.

The HFF team representing Moore & Associates, Inc. was led by senior managing directors Jim Meisel (middle right  photo) and Dek Potts.(botom left  photo)

Moore & Associates, Inc. is an owner-managed, full-service commercial real estate investment, development and management firm serving affiliated and independent clients throughout the Washington, D.C. and Austin, Texas metropolitan areas.

BioMed Realty Trust (NYSE: BMR) is a real estate investment trust (REIT) focused on Providing Real Estate to the Life Science Industry®. BioMed acquires, develops, owns and operates laboratory and office space designed to effectively support the demanding needs of a wide range of pharmaceutical, biotechnology and research institutions.

Contacts:  

James A. Meisel, HFF Senior Managing Director, (202) 533-2500, jmeisel@hfflp.com

Stephen ‘Dek’ Potts Jr., HFF Senior Managing Director, (202) 533 2500, dpotts@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500

krmurphy@hfflp.com

HFF represents Seaton Benkowski on $35.23 million sale of Class A office property within Redland Corporate Center in Rockville, MD

                                                            WASHINGTON, D.C. – HFF announced today the sale of 540 Gaither Road (top left photo), a six-story, 133,895-square-foot, Class A office property in Rockville, Maryland.

HFF marketed the property on behalf of the seller, Seaton Benkowski & Partners.  Federal Partners purchased 540 Gaither Road for $35.23 million and assumed a $25 million loan on the property.

540 Gaither Road, otherwise known as The Eisenberg Building, was completed in 2003 and serves as the headquarters for the Agency for Healthcare Research and Quality, the health services research arm of the United States Department of Health and Human Services.

 The fully leased facility is one of three buildings within the Redland Corporate Center, which is adjacent to the King Farm Development and close to the Shady Grove Metro Station and Interstate 270 in Rockville.

“Our interest in 540 Gaither Road was driven by the combination of growing scarcity of large block space in the Rockville I-270 market as well as the stability of the existing AHRQ lease through the first quarter of 2013,” said Darryl Asack of Federal Partners.  “We are optimistic that the steady improvement of this submarket will position this well-located asset to capture growing tenant demand in tightening space conditions.”

The HFF investment sales team representing Seaton Benkowski & Partners was led by senior managing directors Jim Meisel (middle right photo) and Dek Potts (lower left photo)

Founded in 1991, Seaton Benkowski & Partners, North America Inc. (“SBP”) is a boutique real estate investment and management services firm for clients around the world.  SBP specializes in the placement and management of Washington, D.C. area investments for large endowments, trusts and pension funds.  The firm invests either directly or in joint venture with operating partners and is currently seeking mezzanine and preferred equity investment opportunities in close in submarkets.

Founded in 2004, Federal Partners is a $925 million co-investment joint venture acquiring U.S. Federal Government-leased office buildings around the country and currently operates a portfolio of nearly 1.3 million square feet of assets.

For more information on Federal Partners please visit http://www.federalpartners.us.com/.

Contacts:  

James A. Meisel, HFF Senior Managing Director, (202) 533-2500, jmeisel@hfflp.com

Stephen ‘Dek’ Potts Jr., HFF Senior Managing Director, (202) 533-2500, dpotts@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500

krmurphy@hfflp.com

James A. Wonhof Joins Grubb & Ellis as Vice President, Office Group

  

 DENVER, CO– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that James A. Wonhof (top right photo) has joined the company as vice president, Office Group, and member of the company’s Tenant Advisory Group. 

“Jim joins Grubb & Ellis with numerous client relationships and a successful background in tenant representation.  He is well-respected in the region and I am thrilled to have him with us,” said Mark Ballenger (lower left photo), executive vice president and managing director of Grubb & Ellis’ Denver office. 

 Wonhof joined the firm from Cushman & Wakefield, where he spent more than 10 years as a director focusing on office tenant representation and specialty dispositions. 

Previously, he spent two years with Insignia/ESG Inc. and was an associate with Cushman Realty Corporation, which later merged with Cushman & Wakefield.  During this time, he focused on tenant representation in office properties.  He began his career in 1993 with CB Richard Ellis.   

Contact: Julia McCartney, Phone: 714.975.2230                                     

Email: julia.mccartney@grubb-ellis.com

          

Grubb & Ellis Announces Top Producers for 2010 at Annual Circle of Excellence Awards

 SANTA ANA, CA – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that Bruce McNair (top right photo), executive vice president, Office Group, of the company’s Washington, D.C., office was the company’s No. 1 producer and top Office Group professional in 2010 for the second consecutive year.

 McNair received both honors at Grubb & Ellis’ Circle of Excellence Awards.  The annual event, which recognized more than 70 of the company’s top producers, was held May 5-7.

“Grubb & Ellis takes pride in recruiting and retaining the industry’s top talent, and our annual Circle of Excellence event is a celebration of those professionals and their significant impact on our organization,” said Jack Van Berkel, (middle left photo) president, Real Estate Services.”

For a complete copy of the company's news release, please contact:

Erin Mays, 312.698.6735, erin.mays@grubb-ellis.com

Julia McCartney, 714.975.2230, julia.mccartney@grubb-ellis.com

The company’s top Transaction Services honorees were:

1.                  Bruce McNair

2.                  Kay Davis

3.                  Joel Simmons

4.                  Howard Grufferman, Office Group, New York

5.                  David Scherer, Office Group, Las Vegas

6.                  Bradford Fletcher

7.                  Steven Roth, Debt & Equity Finance, Chicago

8.                  Thomas Miller, Office Group, Atlanta

9.                  Jim Arket, Office Group, Houston

10.              Berkman, Institutional Capital Markets, Washington, D.C.

10.              Gichner, Institutional Capital Markets, Washington, D.C.

11.              Andrew Klaff, Office Group, Tysons Corner, Va.

12.              Terry Coyne, Industrial Group, Cleveland

13.               John Linderman

14.              Joel Wechsler, Office Group, New York

15.              Chon Kantikovit, Tenant Advisory Group, Newport Beach, Calif.

16.              Barrett Stern, Office Group, New York

17.              Jake Jones, Office Group, Grubb & Ellis|Thomas Linderman Graham

18.              Philip Giunta, Investment Services, Boston

19.               Craig Cassell

20.              Jack Kerrigan, Office Group, Boston

21.              Paul Lundstedt, Institutional Capital Markets, Rosemont, Ill.

22.              John Gavin, Institutional Capital Markets, Rosemont, Ill.

23.              Daniel Cressman, Institutional Capital Markets, San Francisco

24.              Douglas Connell, Investment Services, Atlanta

25.              Michael Gottlieb, Office Group, New York

26.              Ted Parris, Office Group, Chicago

27.              Elyse Wolford, Office Group, Washington, D.C.

28.              Thomas Tunnicliff, Office Group, Chicago

29.              Steven Monroe, Office Group, Chicago

30.              Jay Stewart, Office Group, Chicago

  

  

Regency Centers Affirms First Quarter Results

     

JACKSONVILLE, FL.--(BUSINESS WIRE)-- Regency Centers Corporation (NYSE:REG) announced today that the financial results for the quarter ended March 31, 2011 as reported on May 4, 2011 remain unchanged following the completion of its review related to the accounting for its non-qualified deferred compensation plan.

On May 4, 2011 Regency Reported the Following Earnings Results:

Regency reported Recurring Funds From Operations (FFO) for the first quarter of $51.0 million, or $0.59 per diluted share, compared to $52.3 million and $0.63 per diluted share for the same period in 2010.

Regency reported net income attributable to common stockholders for the quarter of $2.2 million, or $0.02 per diluted share, compared to $11.4 million and $0.14 per diluted share for the same period in 2010.

During the quarter, the Company recorded a $4.6 million impairment on our interest in a development joint venture.

Funds From Operations (FFO) for the first quarter was $48.1 million, or $0.56 per diluted share. For the same period in 2010, the Company reported FFO of $48.6 million and $0.58 per diluted share.

Regency’s Form 10-Q for the quarter ended March 31, 2011 has been filed with the SEC.

For a complete copy of the company’s news release and financials, please contact  Lisa Palmer, 904-598-7636

Jones Lang LaSalle Partners With Carbon Disclosure Project Cities Program to Cut Energy Waste and Carbon Emissions in The World's Top Cities

  

CHICAGO, IL - Jones Lang LaSalle, a leading global real estate services firm, has been named a lead sponsor to the Carbon Disclosure Project (CDP) Cities program to improve environmental sustainability in the world's largest cities, and thereby enhance their economic viability.

With CDP Cities, the Carbon Disclosure Project adapts the universally respected CDP reporting system to provide a global platform for city governments to report their greenhouse gas emissions and other sustainability-related information. 

Jones Lang LaSalle will use its global reach and expertise in advising cities and multi-national companies on energy and climate strategies to help refine the CDP Cities reporting criteria and to provide education and consultation to assist cities in improving their performance.

"Jones Lang LaSalle is uniquely positioned to be a valuable global real estate partner to CDP Cities," said Dan Probst (top right photo), Chairman of Energy and Sustainability Services at Jones Lang LaSalle.

"We have developed a world-class platform for large-scale measurement and reporting of carbon emissions, and are in the vanguard of companies able to help cities mitigate risk and seize opportunities in the new global green economy.

“We also have made a strong commitment to reducing our environmental impact, and have followed up on those goals with actions across our firm."

 For further information, please visit our website, http://www.joneslanglasalle.com/

.

Contact: Craig Bloomfield

Phone: 312 228 2774

Email: craig.bloomfield@am.jll.com

Le Méridien Chiang Rai Resort Is Named the Top Resort in Chiang Rai

 

Chiang Rai, Thailand (May 11, 2011) – Le Méridien Chiang Rai Resort (top left photo) is pleased to announce that it was recently named the top resort in Chiang Rai in the Citibank’s 2011 Guide to Thailand’s Best Hotels & Resorts. 

This acknowledgement by Citibank is a testament to the resort’s luxury, unparalleled location, spacious guest rooms and suites, deluxe amenities and services, innovative dining, and facilities that comprise guests’ experiences at Le Méridien Chiang Rai Resort. 

Chic and stylish with a focus on the arts, culture, and an inspiring atmosphere, Le Méridien Chiang Rai Resort unlocks the gateway to the Mekong and promises an enchanting stay for any traveler or adventurer with the desire to discover travel with a new perspective. 

 “We are honored that Le Méridien Chiang Rai Resort has been recognized as the top hotel or resort in Chiang Rai by Citibank’s 2011 Guide to Thailand’s Best Hotels & Resorts,” said General Manager Justin Malcolm.

For reservations and more information, please visit www.lemeridien.com/chiangrai

.

For more information, please visit http://www.starwoodhotels.com/

Contact: Hwee Peng Yeo, Tel : 65 9768.6087

Procacci Development Corp. Deploys Bunker Mentality When Building Office Space in Florida

BOCA RATON, FL  (May 11, 2011) – For executives with Banco Santander International, peace of mind during hurricane season means knowing the business will remain up and running before, during and immediately after a storm.

The reason: Florida-based Procacci Development Corporation’s new line of Class A commercial office space within the Crossroads at Dolphin Commerce Center  (middle left photo)campus that provides business continuity assurance far beyond Florida Building Code.

 “This is a state-of-the-art facility with large missile-impact resistant glass and redundant generators to keep us up and running,” said Clara G. de Castro, Banco Santander International Assistant VP General Services.

 The bank’s primary location is in Miami’s Brickell district (lower right photo), but its 2,300-square-foot hurricane recovery location is far from the coast – and easier for employees to reach following a disaster.

 

“We’ve been through storms before and we know the costs of power outages and downtime. Immediately following a storm is a critical period. This was the right solution in the right location.”

 For Banco Santander, Espirito Santo Bank, Royal Bank of Canada, HSBC Bank USA and health plan provider CarePlus Health Plans Inc., the “Built Procacci Strong” disaster recovery / business continuity commercial real estate program is the right solution.

 It combines strong construction, continuous connectivity and redundant back-up power providing the ability to keep businesses up and running as usual immediately after a major hurricane makes landfall.

The program comprises buildings built to withstand a Category 5 hurricane with winds up to 185 miles per hour. If a storm hits, tenants who have leased space in these buildings know their business is protected and that diesel back-up generators in a N+1 configuration will power the entire building for up to 20 days before refueling.

 Stark statistics bear out the critical need for disaster planning. More than four in 10 businesses never reopen following a disaster and 29% of those that do reopen after a storm close within two years, notes Disaster-Resource.com.

“Many businesses use data centers to protect their information. Think of our buildings as business continuity insurance that provides not only data protection but also a first-class location for people to perform work and conduct commerce,” said Philip Procacci (top right photo), founder and CEO of Procacci Development Corporation.

“Our ‘Built Procacci Strong’ buildings meet or exceed the rigorous standards of the Zurich HPR Program and provide direct savings on insurance costs and operating expenses.”

 The “Built Procacci Strong” initiative has earned Zurich’s highly protected risk (HPR) wind standard certification, a timely distinction in view of projections for the 2011 Atlantic Hurricane Season.

This year’s forecast calls for 16 named storms, with five major storms. As hurricane season approaches, banks, law and accounting firms, cruise lines, call centers and other businesses that can’t afford any down time all anxiously recall past seasons.

Hurricane Wilma in 2005, for example, caused power outages that disrupted business – some for weeks on end. Some industries are required to have a business continuity plan. For others, it just makes good business sense.

For more information log on to http://www.procacci.us/

Contacts:

Todd Templin, Boardroom Communications, 954-370-8999

ttemplin@boardroompr.com

The Bainbridge Companies Develop Tallahassee Student Housing

Campus Circle Tallahassee to be Premier Student Community serving Florida State University

Wellington, FL/Tallahassee, FL – Construction is underway on Campus Circle Tallahassee (top left rendering), a new luxury student housing community being built by affiliates of The Bainbridge Companies, together with an institutional partner. The community is situated directly across the street from the main campus of Florida State University.

“This is significant both for Bainbridge and for Tallahassee,” said Tom Keady (lower right photo), President of Bainbridge Development. “Campus Circle is going to be the premier student living community in Tallahassee due to its walkable location, unique modern apartments and incredible amenities.”

The four-story community is being built on approximately 11 acres at the intersection of West Tennessee Street and Basin Street. The new community will have 219 spacious, fully-furnished apartments ranging from one to four bedrooms, with top-tier amenities unmatched in the area, including a large heated resort-style swimming pool with cabanas and a 12,990 square foot clubhouse.

Bainbridge is developing and constructing the community in a joint venture with National Real Estate Advisors, LLC (www.natadvisors.com).

National Real Estate Advisors is an independent real estate investment advisor offering real estate expertise to institutional investors through separate account management, or through its flagship commingled investment vehicle, INDURE Fund.

Architect Charlan Brock and Associates designed the project. Construction began January 31, 2011.

Contact: Terri Thornton, Thornton Communications (404) 932-4347 Terri@TerriThornton.com