C&W Apartment Investment Group negotiates sale of Daytona’s 208-unit Breakers Apartments for $8.5 million

ORLANDO, FL, May 9, 2011---Cushman & Wakefield of Florida, Inc. (C&W) Apartment Investment team of Jay Ballard (middle right photo),  Ken Delvillar (lower left photo), and Lindsey Pfaender announced the sale of The Breakers Apartments (top left photo) located in Daytona, Florida to Daytona-based Continental Property Services.

 The C&W Apartment Investment team represented the seller, Denver-based real estate investment trust Apartment Investment and Management Company (AIMCO) in the $8.5 million deal that closed on April 22.

Built in 1985, the 208-unit Breakers is a Class B garden-style community is positioned in the heart of Daytona’s college community that includes Embry-Riddle Aeronautical University, Daytona State College, Florida State University College of Medicine, Bethune-Cookman University, Phoenix East Aviation, WyoTech, Keiser College and Palmer Chiropractic College.

  The property is located minutes from Daytona’s famous attractions, including their renowned beach and International Speedway. 

 With a stabilized occupancy of 92% at the time of the sale, Continental Property Services paid $8.5 million or $40,865 per unit and assumed the existing Freddie Mac loan. 

Cushman & Wakefield Director Ken Delvillar said, “as the area’s largest owner of multi-family properties, Continental Property Services was a natural choice to acquire the asset.

 “They’re a well capitalized, private buyer who will be able to maximize the property’s potential through their hands-on management and existing scale in the market,” said Delvillar.

 Contact: Brook Hines Tel: 407-541-4401, brookhines@cushwake.com

 http://www.cushwake.com/

BURBANK, CA, May 9, 2011 — Jones Lang LaSalle announced today that it has completed a lease with Providence Health & Services for 10,314 square feet of office space at 2727 W. Alameda Avenue in Burbank, California.

 The new space will house a portion of the company’s information technology department, which is currently located within the Providence St Joseph Medical Center across the street.

Jones Lang LaSalle Vice President Dean Hawthorne represented the landlord, 2727 Alameda LLC, in the transaction.  Will Adams of CB Richard Ellis represented the tenant.

Built in 1968 and renovated in 2006, the three-story, 33,000-square-foot building is located in the Burbank Media District, next to the Providence Saint Joseph Medical Center, Four Media Co., Disney, NBC/Universal and Warner Bros. It is 100 percent leased and conveniently located near restaurants, hotels, shopping and the Bob Hope Airport.

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

Contact: David Ebeling, Ebeling Communications, (p) 949.861.8351,

(c) 949.278.7851, david@ebelingcomm.com

Bay Isle Key, St. Petersburg, FL---Engler Financial Group Exclusive Offering

ATLANTA, GA--Engler Financial Group, LLC is proud to present Bay Isle Key (top left photo), a 582-unit class “A+” apartment community built in two phases (1999 & 2004) in St. Petersburg, Pinellas County, Florida. 

The Property is located along the west side of Dr. Martin Luther King Jr. Street N., just south of I-275 in the heart of the Gateway submarket.  Phase 1 (369 units) of the Property underwent condominium conversion in 2006-2007.  As of April 2011, ownership controlled 320 units in Phase 1, while 49 units remained individually-owned. Phase 2 of the Property was never converted.

Bay Isle Key is being offered  for sale on an "unpriced" basis and represents an outstanding opportunity to purchase a well-located “Core” Class “A” multifamily community at a significant discount to new replacement cost. The property’s location in the Gateway submarket of Pinellas County offers residents excellent access to major employers, transportation arteries, shopping and recreation.

Bay Isle Key’s centralized location in the heart of the Gateway submarket of Pinellas County affords numerous advantages.

If you  would like more details, have any questions or would like to schedule a tour of Bay Isle Key, please contact Greg Engler, Pat Jones, or Kris Mikkelsen at (678) 992-2000, or Nicholas Husak at (727) 542-7151. We look forward to working with you on this exciting opportunity!

Stirling Sotheby’s International Realty Appointed Exclusive Sales, Marketing Agents at Johns Lake Point in Winter Garden, FL

ORLANDO, FL. --- Stirling Sotheby’s International Realty has been named exclusive sales and marketing agents at Johns Lake Point (top left rendering), centrally located on Avalon Road in Winter Garden.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said associates Jennifer Gonzalez and Luis Gonzalez of Stirling Sotheby’s Heathrow Gallery are representing the Johns Lake Point developer Misty Ridge Ventures in sales of nine new home residences on the property priced from the $160s to the mid $400s.

Altogether, 323 new homes are planned at Johns Lake Point in three distinct villages with 50-, 75- and 85-foot lots.  In addition, construction will start this summer on a 4,000 square foot amenity center with fitness facilities, a junior Olympic-sized pool, tennis courts and children’s play area.

Stirling Sotheby’s associate Jennifer Gonzalez said new three to six-bedroom homes at Johns Lake Point range in size from 1,600 square feet of living space to 3,800 square feet, some of which are situated on preserve and pond front homesites.

Gonzalez said close proximity to Orlando’s main arterial highways – State Roads 408 and 429 and the Florida Turnpike – makes Johns Lake Point within easy access to anywhere in the metro Orlando area.

“Our onsite model sales center is now open,” Gonzalez said.

Photo Gallery: http://www.stirlingsir.com/eflyers/johnslake/gallery/

Video: http://www.youtube.com/watch?v=9TWnFWV1cQ8

For more information, contact

Jennifer Gonzalez, Sales Executive, The Gonzalez Team, Stirling Sotheby’s International Realty 407-333-1900, 321-377-3325 or thegonzalezteam@stirlingsir.com

 Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890; rsoderstrom@stirlingSIR.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142   Lvershelco@aol.com

.  

Visit http://www.stirlingsir.com/

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McCarthy Building Companies Completes Construction of Emergency Room Department and Acute Care Unit Expansion at Olive View-UCLA Medical Center

SYLMAR/NEWPORT BEACH, CA (May 9, 2011) – McCarthy Building Companies, Inc. (www.mccarthy.com), one of Southern California’s preeminent healthcare builders, has recently completed construction of a replacement and expansion of emergency services and acute care units at Olive View-UCLA Medical Center (top left photo) in Sylmar, Calif. 

The hospital celebrated the opening of the new $53 million facility with a ribbon cutting ceremony in February 2011.

 “With 51 beds, we now have the second largest Emergency Department in the Department of Health Services,” said Carolyn Rhee, Olive View - UCLA Medical Center CEO during the ceremony as she congratulated the project team for finishing 9 months ahead of schedule and $1 million under budget.  “This was a milestone in Olive View’s history, considering that the Emergency Department has been too small for 24 years.” 

Los Angeles County Supervisors Michael D. Antonovich and Zev Yaroslavsky proudly cut the big red ribbon at the entrance to the new facility during the opening ceremony. John Schunhoff, Chief Deputy of the Department of Health Services attended the event along with hospital administration, nurses, physicians and project team members.

 Over the last couple of years, hospital officials said they have seen an increase in patient ER visits of more than 20 percent and they expect at least an additional 8,000 to 10,000 more people to be seen annually now that a larger and more advanced emergency department is built. Expanded from 15,000 to 31,000 square feet, the emergency department and acute care unit boasts new equipment and a more efficient layout which will improve treatment and shorten patient wait times.

McCarthy Building Companies Inc. served as general contractor for the project, which entailed construction of a single-story facility on the north side of the existing ER.

The project was delivered under a Guaranteed Maximum Price (GMP) agreement, one of the first such contracts for the Los Angeles County Department of Public Works. Utilizing this delivery method, the facility was completed almost $1 million under budget and nine months ahead of the original schedule even with scope added during the project.

 Olive View-UCLA Medical Center is located in the northern San Fernando Valley.  The main facility includes 377 beds and provides outpatient, surgical, obstetric/gynecologic, and psychiatric services.  The hospital is host to a number of residency programs and is affiliated with the University of California, Los Angeles (UCLA) School of Medicine.

 Contact:

 Laura Mickelson (LM Communications), (949) 453-0851

Susan Garritano (McCarthy Building Companies, Inc.), (314) 968-3300                           

Home Prices in the U.S. Continue to Head South

The Huffington Post-AOL News reports prices of residential properties posted the biggest quarterly drop since 2008.

Almost five years after home prices peaked, they're still moving in the wrong direction.

Home values fell 3 percent during the first three months of this year, according to a new report from data provider Zillow (top left chart). Even as the stock market climbs to three-year highs, and as payrolls tentatively expand, housing continues to fall in almost every U.S. metro area.

Prices won't find a bottom until 2012 at the soonest, Zillow predicts, meaning American homeowners could be in for at least another year of pain, according to Huffington Post-AOL News..

The Wall Street Journal reports the Zillow.com survey indicates nearly 30% of borrowers owe more than their homes are worth. . Prices have now fallen for 57 consecutive months, according to Zillow.

The WSJ reports “last year, the housing market showed signs of improving as price depreciation slowed in some markets and stabilized in others. In response, a number of economists began forecasting that housing would hit a bottom in late 2011, then begin to recover.

“But the improvements, spurred by federal programs that gave buyers up to $8,000 in tax credits, proved fleeting. Sales collapsed when the credits expired last summer, and prices in many markets have been falling ever since," according to the WSJ.”

Cuhaci & Peterson Architects Awarded Contract to Design New Dollar General Facility in Sanford, FL

ORLANDO, FL. --- Cuhaci & Peterson Architects, LLC based in Orlando’s Baldwin Park was recently awarded a contract to design a new Dollar General facility on French Avenue (U.S. 17-92) in Sanford.

Lonnie Peterson, chairman at Cuhaci & Peterson Architects, said the facility will be 10,000 square feet and construction will begin in the fall.

For more information, contact:  

Lonnie Peterson, Chairman Cuhaci & Peterson Architects, LLC, 407-661-9100;  

Jed Downs, President Cuhaci & Peterson Architects, LLC, 407-661-9100;  

Larry Vershel or Beth Payan, Larry Vershel Communications, Inc. 407-644-4142, lvershelco@aol.com

  

Marcus & Millichap Names John Horowitz Regional Manager of Brooklyn Office

  BROOKLYN, N.Y., May 6, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named John Horowitz (top right photo) regional manager of the firm’s Brooklyn office, according to John J. Kerin, president and chief executive officer.

“As sales manager of the Brooklyn office, John has demonstrated his expertise in expanding our national market-making capabilities to clients throughout the Tri-State area,” says Kerin. “As regional manager, John will continue to expand the Brooklyn office and to provide leadership and support to our investment professionals.”

Horowitz began his career with Marcus & Millichap in December 2006 as an agent in the Brooklyn office and became the sales manager in October 2010. Prior to joining Marcus & Millichap, he worked as a corporate lawyer and ran a nonprofit agency that focused on criminal justice issues.

Horowitz received a bachelor’s degree in political science from Tufts University and a law degree from Fordham University.

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

Two San Francisco Residential Sites Sell for $414 Million

SAN FRANCISCO, CA,  May 6, 2011 – Institutional Property Advisors (IPA), a boutique brokerage platform serving the needs of institutional and major private investors, has negotiated the sale of two residential sites (top left photo) in San Francisco for $41.4 million.

 The two transit-oriented residential sites, Blocks 5 and Block 11, are located on 3.84 acres in the Mission Bay neighborhood of San Francisco. The sales price of $41.4 million represents $247 per square foot.

The brokerage team of Stan Jones (middle right photo), Phil Saglimbeni  (middle left photo) and Sal Saglimbeni  (lower right photo) represented the seller, FOCIL-MB in the transaction.  The buyer was BRE Properties Inc.

 “The city’s vision for Mission Bay has been very well executed and represents one of the last growth corridors in San Francisco,” says Jones. “Opportunities to acquire entitled market-rate sites in the city are truly rare, as evidenced by the strong roster of both public and private developers that have committed to the area.” 

“Entitled for 360 units, Block 5 and Block 11 represented the last two market- rate residential development sites available in Mission Bay,” adds Phil Saglimbeni. “Commitments from major employers, including UCSF, Old Navy, Salesforce.com and several biotech companies have spurred explosive growth in the neighborhood.”

The sites are located one block south of Mission Creek, just south of downtown San Francisco. They are within walking distance of two light-rail stations, two bus lines and the Caltrain Station. Access to interstate highways 80 and 280 and U.S. Highway 101 is minutes from the sites.

Block 5 and Block 11 are also located near extensive retail and entertainment options, including AT&T Park, the Ferry Building, Union Square and Westfield’s San Francisco City Centre.

The Mission Bay neighborhood, which covers 303 acres, represents the largest urban development in San Francisco since the building of Golden Gate Park.

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

Bill Rose Promoted to National Director of Marcus & Millichap’s National Retail Group

ENCINO, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Bill Rose (top right photo) to director of the National Retail Group (NRG), according to president and chief executive officer, John J. Kerin (middle left photo).

“We have the largest and most experienced team of retail investment specialists  in the nation,” says Kerin. “The NRG led the industry again last year with 1,445 retail transactions totaling $3.7 billion.”

“Despite our leading position, we have a significant growth opportunity in the retail real estate sector,” continues Kerin. “Bill’s extensive experience in all aspects of retail real estate makes him uniquely qualified to lead the effort to expand the firm’s retail investment sales expertise, financing, research and advisory services.”

Rose joined Marcus & Millichap’s San Diego office in September 2003 as a retail and multifamily investment specialist. He was promoted to senior associate in September 2006. He rejoined the firm in November 2009 as sales manager of the San Diego office and in November 2010 was named western regional director of the NRG. He is currently located in the San Diego office.

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

RealtyTrac Adds SmartZip Homescore For Millions of Foreclosure and For-Sale Properties Nationwide

IRVINE, CA– RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, and SmartZip Analytics (www.smartzip.com), a leader in real estate analytics, today announced that SmartZip’s HomeScore™ has been integrated on nearly 2 million foreclosure and for-sale properties posted on the RealtyTrac website, allowing users to instantly locate properties that have the best potential for appreciation over time.

“This partnership offers great value to RealtyTrac users, giving homebuyers and investors the ability to easily find foreclosures and for-sale properties that represent the best buys,” said James J. Saccacio (top right photo), chief executive officer of RealtyTrac.

 “Backed by SmartZip’s robust property and neighborhood analytics, the HomeScore ratings are displayed on RealtyTrac’s search results pages, allowing users to sort and filter properties by their scores, and in-depth property reports with historical charts and the data behind the ratings are available on the property details pages.”

“Today’s real estate market is characterized by unprecedented uncertainty and opportunity,” said Tom Glassanos, (middle left photo) president and CEO of SmartZip Analytics. “RealtyTrac’s adoption of SmartZip’s Homescore ratings addresses each of these head on, giving homebuyers the means to easily tap the foreclosure market while ensuring purchases are financially sound.”

Visitors to www.realtytrac.com who perform a property search will find a HomeScore rating for properties in their area of interest. The HomeScore rating is a measure of a property’s potential to have above-average appreciation and below-average costs. HomeScore indicates a home’s relative investment quality on a scale of 1 to 100, with 50 being the national average, rating properties whether they are a poor, fair, good, very good or excellent investment opportunity.

The higher the HomeScore rating, the greater is the home’s investment potential. Properties that score above 50 are expected to outperform the market while those that score below 50 are expected to underperform. In general, a HomeScore between 35 and 65 is considered a “good” investment. A score above 65 is “very good” to “excellent;” and below 35, the rate scale trends from “fair” to “poor.”

View video on how SmartZip HomeScore works on RealtyTrac.

See a sample of the detailed SmartZip HomeScore report.

Tweet this: RealtyTrac integrates SmartZip HomeScore to show best potential for price appreciation on foreclosure and for-sale properties. http://ow.ly/4MBJW

Media Contacts:

Michelle Sabolich

Atomic Public Relations

415.593.1400, ext. 1233

michelle.sabolich@atomicpr.com

Avi Gupta:

Vice President, Marketing & Business Development

925.218.1924

avi@smartzip.com

Cambridge Chairman Jeffrey A. Davis Appointed to Service on Board of Advisors for Graaskamp Center for Real Estate

 CHICAGO, IL--Cambridge Realty Capital Companies Chairman Jeffrey A. Davis (top right photo)  has been appointed to serve on the Board of Advisors for the James A. Graaskamp Center for Real Estate on the University of Wisconsin campus in Madison.

The Center is named for the late James Graaskamp (middle left photo), a professor and department chairman of real estate at the university between 1964-1988. Prof. Graaskamp is credited with helping to establish his field within the realm of academia and with creating the multi-faceted ethics-based curriculum now widely used in teaching real estate at Madison and other institutions.

Davis is a 1976 graduate of the University of Wisconsin with a Master’s degree in real estate finance. He says Prof. Graaskamp’s devotion to students and his exceptional oratory skills earned him legions of loyal student followers.

“Prof. Graaskamp believed in preparing students to tackle complex, unstructured problems that didn't lend themselves to neat academic models,” he noted.

In the 1970s, Prof. Graaskamp began to advocate for an environmental ethic in real estate proceedings, noting that development has considerable and nearly irrepressible impact on the land. He also advocated for a much more comprehensive approach to feasibility analysis and his book, A Guide to Feasibility Analysis, is a standard text today.

Prof. Graaskamp overcame many personal obstacles. Polio left him a quadriplegic at age 17, but he went on to earn a degree in creative writing from Rollins College, an MBA in securities analysis from Marquette University, and a doctorate in urban land economics and risk management from the University of Wisconsin.

To honor his distinguished teaching career, The Wisconsin School of Business Center for Real Estate was renamed in his honor in 2007.

Executive Director Michael Brennan (lower right photo) said the Graaskamp Center’s mission is to train competent, creative and collaborative professionals who are prepared to be leaders in the real estate industry. The Advisory Board is a core support group of real estate industry leaders who advise the center on its agenda, mentors student, participate in board meetings and contribute to the Wisconsin real estate tradition as guest lecturers at the school.

 Contact:

Evan Washington

Phone: (312) 521-7604

Fax: (312) 357-1611

E-Mail:  ew@cambridgecap.com

Marcus & Millichap Sells 42-Unit Apartment Property in Tampa, FL for $455,000

TAMPA, FL, May 5, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Lexington Court (top left photo), a 42-unit apartment property located in Tampa, Fla, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $455,000.

Michael P. Regan (lower right photo), an associate vice president investments, Francesco P. Carriera, a senior associate and Nicholas Meoli, a multifamily investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor based out of California.

The buyer, a private investor, was secured and represented by Regan and Carriera.

Lexington Court was built in 1974 and is located at 11738 North 14th Street. 

“This was an FDIC assisted short-sale transaction.  After several months of marketing, we were able to generate multiple offers.  Keeping prospective buyers engaged was not an easy task while we were waiting for final lender approval, as the property, its income and its location continued to depreciate” says Carriera.

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

Tolaris Realty Group Expands to Sarasota, FL area: Reports Record Transactions in April

 LAKE FOREST, FL –Tolaris Realty Group, which sells homes throughout Orange, Seminole, Lake and Volusia Counties, has expanded to Sarasota County.

Rick Bavec, president of Tolaris Realty Group, said the real estate company located off SR 46 in Lake Forest west of Sanford now employs 22 associates in five counties.

 Bavec said he expects to see record sales transactions in April.

For more information, contact:

Richard Bavec, President, Tolaris Realty Group, 407-402-9866 rbavec@tolarishomes.com;

 Larry Vershel or Beth Payan, LV Communications, 407-644-4142 (fax: 4410) lvershelco@aol.com

Stirling Sotheby’s International Realty’s Named Exclusive Sales, Marketing Agents for European Luxury Home in Howey-In-The-Hills, FL

ORLANDO, FL--- Stirling Sotheby’s International Realty was named exclusive sales and marketing agents for a $625,000 European luxury home (top left photo) near the Mission Inn Country Club in Howey-In-The-Hills that cost more than $1 million to build.

To view a video of the home and property visit http://www.youtube.com/watch?v=3DJCbV6FBQc

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said it took Master Craftsman John Artimovich of Olde Mill Company four years to complete construction of the 4,415 square foot home with five bedrooms, four baths, and one-of-a-kind features that include a secret stairway hidden behind a library bookcase.

“This is truly a unique home,” Soderstrom said. “Everything in the home was custom built or custom ordered from Europe. We expect it will get a lot of attention from buyers from around the world,” he added.

 International Luxury Home Specialist Michelle Norris listed the home for sale.

“The three-story manor home features two fireplaces,” Norris said. “The one in the living room is crowned by a 1,100 pound mantle piece,” she said.

A luxury master suite is located on the ground floor. The den features a copper ceiling. A secondary bedroom features a private reading loft and the living room sports a 20 foot teak ceiling.

“Besides being a unique property, this home is an exceptional bargain, it was once listed for $1 million,” she said.

For more information, contact:  

Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890;  

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

   

Cuhaci & Peterson Architects completed design work on LA Fitness facility in St. Petersburg, FL

ORLANDO, FL --- With design work completed by Orlando Architects Cuhaci & Peterson, the LA Fitness facility located off 22nd Ave. in St. Petersburg is now opened.

The facility is 50,000 square feet, according to Lonnie Peterson, chairman at Cuhaci & Peterson Architects.

For more information, contact:  

Lonnie Peterson, Chairman Cuhaci & Peterson Architects, LLC, 407-661-9100;  

Jed Downs, President Cuhaci & Peterson Architects, LLC, 407-661-9100;  

Larry Vershel or Beth Payan, Larry Vershel Communications, Inc. 407-644-4142,  lvershelco@aol.com

  

First Green Bank of Eustis to Open New LEED Platinum-registered Headquarters in Mount Dora, FL by end of June

EUSTIS, FL.  – First Green Bank, one of the first banks of its kind in the U.S. to focus on positive environmental and social responsibility while operating as a traditional community bank, will open its new headquarters in June at 18251 U.S. 441 in Mount Dora (top left rendering).

The new headquarters is being built to the highest standards of energy efficiency and environmental sustainability, seeking a LEED Platinum Certification from the U.S. Green Building Council.

Kenneth E. LaRoe, (lower right photo) chairman and chief executive officer of First Green Bank, said the new 11,000+ square foot facility aspires to be only the second privately-owned building in Florida certified with the LEED Platinum Certification, and the only bank denoted as such.

Schmid Construction of Clermont is general contractor for the new facility.

First Green Bank, which opened facilities in Eustis and Clermont in February 2009, has been profitable since October 2010, LaRoe said.

Currently, First Green Bank reports assets valued at more than $133 million.

For more information about this press release, contact:  

Kenneth E. LaRoe, Chairman and CEO, LEED® AP, First GREEN Bank, 352-483-9100, ken@firstgreenbank.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 or 407-461-3780, lvershelco@aol.com

  

Cousins Announces New Tenant lease at Terminus 200 Buckhead, GA Office Tower Nearing 85 Percent Leased

  

ATLANTA, GA (May 5, 2011) – Cousins Properties Incorporated (NYSE: CUZ) announced today that global consulting firm North Highland has signed a 69,922 square foot lease at Terminus 200 (top left photo) in Buckhead, bringing the office tower to 84 percent leased. 

The expanding consulting firm, currently headquartered at 550 Pharr Road in Buckhead, is scheduled to relocate by November 2011.

"In just over a year, Terminus 200 went from 10 percent leased to close to 90 percent leased," said Cousins President and CEO Larry Gellerstedt (middle right photo).

 "Terminus 200 continues to benefit from office tenants seeking to trade-up to quality properties with proven management and trusted ownership during an uncertain economic climate. The addition of North Highland as another top class tenant at Terminus 200 will strengthen the property's position as one of Buckhead's premiere office towers for years to come."

North Highland affiliates, Sparks Grove Inc., a marketing strategy agency, and TrueBridge Resources, a staffing firm, will also move into the newly leased space. They join a number of companies who have recently signed leases at Terminus 200, including: Kids II Inc., Greenberg Traurig, LLP, Sony Ericsson and Fitzgerald+CO.

 “North Highland’s strong double digit growth in the global consulting arena has created the need for more space for our global headquarters.

"We are continuing to hire a significant number of experienced consultants, and the Terminus building provides us with the needed facilities to help support the ongoing growth of our company,” said North Highland CEO Dan Reardon (lower left photo).

Brad Armstrong and Chris Wagner of Jones Lang LaSalle represented North Highland in the deal.

Located at the intersection of Peachtree and Piedmont roads in the Buckhead office submarket, Terminus 200 is a Gold-level LEED Certified, 25-story, 564,000-square-foot tower of Class A office, retail and restaurant space. The property is owned by Cousins in partnership with Morgan Stanley.

  For more information, please visit North Highland online at http://www.northhighland.com/

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Media Contact: Bryan Long, Jackson Spalding, (404) 724-2501; blong@jacksonspalding.com

                                                                              

Matt Scofield, Jackson Spalding for Cousins, P 404.214.3554 

E mscofield@jacksonspalding.com

http://www.jacksonspalding.com/

Pyramid Hotel Group Continues Growth in 2011

BOSTON, MA, May 5, 2011--Officials of Pyramid Hotel Group, a Boston-based hotel management, asset management and project management firm, today announced that year-to-date 2011 the company added five properties with approximately 1,600 rooms to its managed and asset-managed portfolio.

The additional properties range from city center commercial hotels to branded destination resorts in a variety of hotel markets throughout the United States, including Hawaii and the Caribbean.  

“The improving market in the 2011 first quarter contributed to a strong period of growth for Pyramid, including international expansion with the addition of our first Caribbean resort. 

“ This international growth reflects the strength, versatility, and proven abilities of our company and the confidence of our new hotel owners to deliver superior returns,” said Warren Fields (middle right photo), Pyramid’s chief investment officer.

“Concurrently, we are especially gratified that our current management portfolio remained stable throughout the recent economic downturn, reflecting the strength of our long-term relationships due to Pyramid’s ability to consistently maximize cash flows and asset values under any economic condition.

“We expect to see continued strong growth in the 2011 second quarter as a result of our exceptionally active pipeline,” Fields noted.   “Owners are particularly attracted by our proven track record, our extensive sales and marketing networks, our revenue management practices and our ability to benchmark performances across multiple brands, independent properties, and markets.”

Contact:  Jerry Daly or Chris Daly,  Daly Gray,(703) 435-6293

jerry@dalygray.com

Hampton Inn Scranton at Montage Mountain, PA Unveils New Look After Completing a Multi-Million Dollar Property Renovation

SCRANTON, PA,  May 5, 2011 – The Hampton Inn Scranton at Montage Mountain (top left photo) hotel has announced the completion of extensive property renovations that includes a brand new lobby. 

The “Perfect Mix” lobby is designed to bring people together, to stay longer and socialize. There are now plenty of seating options for relaxing, dining or working in a comfortable atmosphere surrounded by a vibrant, contemporary design.

Other areas recently transformed by the renovation include upgrades to all 129 guestrooms, public areas and meeting space.

 “We are delighted to present a refreshed look for the comfort and convenience of our guests and meeting clients,” said Ryan Alpert (lower right photo), general manager. “The lobby has become a destination for our guests to enjoy the ambiance, relax, work and mingle during their stay.”

 The new hotel lobby, decorated in warm earth tones, features soft seating, library shelves, flat-screen TV, secure high-speed internet access, and pendant and accent lighting. Library shelves and new flooring were added along with a refurbished front desk.  The breakfast area received a facelift as well with new furniture, dining seating and coffee serving table, as well as hot new Belgian waffle makers.

 The hotel also upgraded all guestrooms to the newest Hampton Inn guest room package in a contemporary décor accented in warm colors, with new furniture, carpeting, bedding, lighting and artwork, and all new bathrooms.  In addition, the pool and fitness center received upgrades and a new guest laundry room was added to the second floor of the hotel. All meeting spaces received new carpeting, tables, chairs, and artwork.

  

Contact: 

Ryan Alpert, General Manager, Hampton Inn Scranton at Montage Mountain

(570) 342-7002,  Ryan.Alpert@ihrco.com