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Ramada Kissimmee Maingate West Rebrands

18 Jul 2014, 5:33 pm

By Balazs Szekely, Associate Editor

Ramada Kissimmee Maingate West joins the Magnuson Grand Hotel brand, a recent written announcement released by Magnuson Hotels reports. Following the rebranding procedure, the name of the facility will change to Magnuson Grand Hotel Maingate West.

Headquartered in London and Spokane, Wash., Magnuson Worldwide is a hotel services organization. Its holdings include Global Hotel Exchange, CRS1 and Magnuson Hotels – an independent hotel group. Founded in 2003, Magnuson Hotels represents almost 2,000 individually owned and operated hotels with assets in excess of $6.75 billion. The company’s Magnuson Grand Hotels brand offers upscale level hotels and resorts.

The affiliation with the hotel chain comes with the benefit of global brand representation, a larger exposure locally, regionally and nationally as well.

“We are proud to welcome Bruce Jones and his entire staff, and are fully committed to increasing their visibility and reservations,” says Magnuson Worldwide CEO Thomas Magnuson.

Magnuson’s global portfolio includes around 2,000 hotels. Magnuson Hotels’ hotel reservation network also includes 650,000 GDS travel agents, over 2,000 internet booking channels such as Google, Facebook, Expedia, Hotels.com, Priceline, Global Hotel Exchange, and all major airline websites.

The hotel previously franchised by Wyndham Worldwide as part of its Ramada chain includes 442 rooms and offers convenient access to popular destinations via its location within walking distance from the main gate of Walt Disney World and by offering free scheduled shuttle service to a number of Orlando’s theme parks and other entertainment venues.

Photo credits: Ramada Kissimmee Maingate West



CBRE’s John Gilbert Transfers to JLL as Managing Director in Orlando

11 Jul 2014, 7:12 pm

By Balazs Szekely, Associate Editor

Jones Lang LaSalle Inc. has recently welcomed John Gilbert to its Orlando team. Gilbert was hired as managing director in early July and he will focus on growing the firm’s office agency leasing practice in the Central Florida market.

JLL is a professional services and investment management firm with over 200 corporate offices in 75 countries, employing 650 specialists in Florida only. The firm offers specialized real estate services to owners, tenants and investors alike. With annual fee revenue of $4 billion, it provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and has completed $99 billion in sales, acquisitions and finance transactions last year.

Formerly a Senior Vice President in the Orlando market for CBRE, Gilbert has spent the past 14 years working in the area and has more than 20 years of experience behind his back in the commercial real estate industry. He holds a bachelor’s degree in business administration with a specialization in finance and real estate from Florida State University in Tallahassee. According to a written announcement released by JLL, the veteran office broker has completed more than 650 sale and lease transactions over his career, totaling more than $590 million in value. He has represented investors as well as institutional and private owners.

As an active member of the National Association of Industrial and Office Properties, Gilbert is a licensed real estate salesperson in Florida. The Orlando Chapter of NAIOP has granted Gilbert the Office Broker of the Year Award in 2007 and 2012.

Image source: John Gilbert via LinkedIn



Gated Golf Course Community Opens in Orlando

4 Jul 2014, 5:52 pm

By Balazs Szekely, Associate Editor

The Reserve at Alaqua, a private golf course community in northeastern Orlando is now available to future residents. Located at 3109 Players View Circle in Longwood, within the Alaqua Country Club, the homes are close to Wekiva Preserve.

Founded in Southern California in 1965 Standard Pacific Homes is a company involved mainly in building high-quality homes and neighborhoods with experience in land acquisition, development and architecture. The firm currently offers new homes in major metropolitan areas in Arizona, California, Colorado, Florida, North Carolina, South Carolina, and Texas.

The community is on a prestigious 18-hole championship golf course adjacent to Wekiva Preserve, which is 45,000 acres of nature preserve that allows for a close-to-nature atmosphere with an abundance of wildlife and miles of walking trails. In addition, homeowners will have easy access to Interstate 4 and major commuter routes, numerous shopping and entertainment venues at the Colonial Town Park and Oakmonte Plaza, as well as to fine education at the Seminole County School District.

The community offers a choice of six different home designs, ranging from 3,200 to 4,200 square feet in size. With up to five bedrooms and six baths, and the interiors feature spacious great rooms, gourmet kitchens, a spa-like master bath and quality interior furnishings. The exterior design is conceived to exploit and accentuate the virtues of the natural surroundings. Accordingly, the outdoor areas home include a lānai, a Hawaiian-inspired roofed open-sided veranda. Separated only by lakes and the golf fairway, the homes come equipped with spacious two-car and split three-car garages and the 24-hour guarded community features a fully appointed clubhouse.

Photo credits: Standard Pacific Homes



Osprey Links at Hunter’s Creek Changes Hands

30 Jun 2014, 3:28 am

By Balazs Szekely, Associate Editor

The 424-unit, Class A multifamily apartment community located in south Orlando is now the property of Milestone Apartments REIT as a result of a $50.7 million transaction announced recently by the investment trust. An affiliate of The Milestone Group LLC was part-owner in the joint venture that sold the property, possessing a minority interest in the enterprise.

As part of the purchase consideration, the REIT is assuming approximately US$26.1 million in debt at a fixed rate of 4.57 percent maturing on January 1, 2018. The remaining US$24.6 million of the purchase price was funded using proceeds from the REIT’s recent equity bought deal financing and from the refinancing of its US$228.6 million mortgage debt facility, both completed in April 2014.

Built in 1996, the property is part of the 4,000-acre Hunter’s Creek community. Osprey Links features 29 acres and offers access to the master planned development’s “A” rated public elementary, middle and high schools as well as to an abundance of parks and recreational amenities, such as the Hunter’s Creek Golf Course. Its location is also proximate to several dining, shopping and entertainment venues. The area has some of the city’s largest employers like Walt Disney World, Orlando International Airport, the Osceola County / City of Kissimmee Government Center, and Lake Nona’s Medical City. Sixteen different floor plans are available from 855 to 1,623 square feet and up to three bedrooms.

The average monthly in-place rent at Osprey Links is $1,063 per apartment and 96 percent of the units are currently occupied.

Photo credits: Milestone Apartments



Holiday Inn Resort Lake Buena Vista Sold

20 Jun 2014, 5:07 pm

By Balazs Szekely, Associate Editor

ROCH Capital has recently acquired the Holiday Inn Resort Lake Buena Vista from Vista Hospitality Company. The new owners commissioned Portfolio Hotels to manage the asset.

The 503-room hotel in Orlando changed hands with HFF acting on behalf of the seller in the transaction and the investment sales team was led by director Michael Weinberg along with director Max Comess. Michael Weinberg sees an upswing in hotel investments in the form of both debt and equity capital.

“There just isn’t enough supply of transactions on the market to meet the demand which is creating competition from buyers and lenders,” he says.

As reported by a written announcement released by Holliday Fenoglio Fowler, ROCH Capital purchased the asset free and clear of debt.

Located at 13351 S. Apopka Vineland Road in the southwestern region of Orlando, the hotel is in the immediate vicinity of Walt Disney World Resort, proximate to SeaWorld Orlando and has Universal Orlando Resorts and Orlando International Airport within easy reach. Its amenities include 7,000 square feet of meeting space, a resort-style outdoor swimming pool, a new Applebee’s Neighborhood Grill & Bar, as well as a fitness center, basketball court, children’s club, gift shop and business center. It offers a wide range of suites from traditional guest rooms to junior and kids’ units and also a presidential suite.

The hotel is part of a three-property portfolio including the Holiday Inn Express & Suites Fort Lauderdale that was sold in March, respectively Crowne Plaza Orlando Downtown which is still on the market. According to Real Capital Analytics, the sale of Holiday Inn Resort Lake Buena Vista was the largest hotel transaction brokered this year in Orlando.

Photo courtesy of Holiday Inn Resort Lake Buena Vista via PH Lake Buena Vista







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