Hodges Ward Elliott Arranges Sale of Doubletree by Hilton Hotel in Atlanta-Buckhead Market

Atlanta, GA – January 12, 2018 – Hodges Ward Elliott (“HWE”), the world’s leading independent hotel brokerage and investment-banking firm, with offices in New York, Atlanta, Los Angeles and London, announced they represented USAA Real Estate in its recent sale of the Doubletree by Hilton Hotel located in the Buckhead submarket of Atlanta.

A Hodges Ward Elliott team comprised of Mark Elliott, Michael Diprima and Jeff Berkman represented the seller in the negotiations.

The hotel includes 230 guestrooms, 7,323 square feet of meeting space, a full-service restaurant and lounge, business center and fitness center and is part of the mixed-use Tower Place development situated in the heart of Buckhead’s thriving 21-million-square-foot office market.

Hodges Ward Elliott Arranges Sale of Wyndham Anaheim Garden Grove

Anaheim, CA – January 4, 2018 – Hodges Ward Elliott (“HWE”), the world’s leading independent hotel brokerage and investment-banking firm, with offices in New York, Atlanta, Los Angeles and London, announced they represented Pacific Hospitality Group (PHG) in its recent sale of the Wyndham Anaheim Garden Grove hotel to Khanna Enterprises.

A Hodges Ward Elliott team comprised of Director, Michael DiPrima and Vice President, Diana Simpson, represented the seller in the negotiations.

The hotel includes 376 guestrooms, over 30,000 square feet of meeting space, three food and beverage outlets, a fitness center and an outdoor pool.  PHG developed the Wyndham Anaheim as the Crowne Plaza Anaheim Resort in 1999. The hotel was rebranded under the Wyndham flag in May 2014 and since then, PHG invested more than $5 million in capital improvements to the hotel, including a massive transformation of the lobby and food and beverage outlets. Following the sale, the purchaser plans to renovate, reposition and reflag the hotel as a Delta by Marriott.

Hodges Ward Elliott Brokers Sale and Acquisition Financing of Westin Atlanta Perimeter North Hotel

Atlanta, GA – November XX 2017 – Hodges Ward Elliott (“HWE”), the world’s leading independent hotel brokerage and investment-banking firm, with offices in New York, Atlanta, Los Angeles and London, is announcing they represented NAME in its recent sale of The Westin Atlanta Perimeter North, a recently renovated 372-room hotel located in Atlanta, Georgia to Crescent Real Estate LLC (Crescent).

In addition, HWE also arranged the financing of the acquisition for Crescent.

Hodges Ward Elliott President Mark Elliott and Director Michael DiPrima represented the seller in the transaction and Managing Director and Head of Capital Markets, Lawrence Britvan, advised the buyer on the financing. (CORRECT HWE NAMES?)

“We are pleased to have advised both the seller and the buyer in this transaction,” said NAME, Hodges Ward Elliott. “The seller came to us because of our unparalleled hospitality brokerage experience and strong knowledge of the Atlanta region. Once we began marketing the property, we were able to quickly identify a buyer that recognized the long-term value of this investment and helped them secure a favorable financing package to finalize this acquisition and maximize the value of this high-quality hospitality asset.”

The Westin Atlanta Perimeter North, one of largest hotels outside of downtown Atlanta, is located on 6.25 acres in north Atlanta’s Central Perimeter submarket. It’s also the only hotel located next to the Concourse Corporate center, a 2.2 million-square-foot Class A office complex that includes the market’s familiar “King and Queen” office towers.

The property offers more than 20,000 square feet of meeting space, including an 8,000-square-foot ballroom, as well as the SAVOR bar & kitchen, a farm-to-table eatery. Additional amenities at the hotel include a new Westin Executive Club, a 24-hour business center, its own WestinWORKOUT fitness studio, in-room spa treatment and outdoor pool.

Hodges Ward Elliott Advises on the Sale and Acquisition Financing of Bacara Resort & Spa in Santa Barbara, California

Santa Barbara, CA – October 09, 2017 – Hodges Ward Elliott (“HWE”), the world’s leading independent hotel brokerage and investment-banking firm, with offices in New York, Atlanta, Los Angeles and London, is announcing they represented Pacific Hospitality Group (“PHG”) in the recent sale of the Bacara Resort & Spa (“Bacara”) to Carey Watermark Investors Incorporated (“CWI 1”) and Carey Watermark Investors 2 Incorporated (“CWI 2” and, together with CWI 1, “Carey Watermark”). HWE also advised Carey Watermark on the financing of the Bacara acquisition. Carey Watermark will rebrand Bacara as The Ritz-Carlton Bacara, Santa Barbara.

Hodges Ward Elliott President Mark Elliott and Director Michael DiPrima represented the seller in the transaction and Managing Director and Head of Capital Markets, Lawrence Britvan, advised the buyer on the financing of the acquisition.

PHG, along with its lead investors Eagle Four Partners and William Foley, acquired the Bacara Resort & Spa in February 2013. Since then, PHG invested more than $27 million in capital improvements to the resort, including a complete guestroom renovation, the development of a new signature restaurant Angel Oak, and upgrades to the resort’s technology as well as its other food and beverage venues.

“Bacara is one of the premier ocean front resorts in North America. We knew this was a rare investment opportunity that would generate significant interest once we brought it to market,” adds Michael DiPrima, Hodges Ward Elliott. “It was a great honor for Hodges Ward Elliott to have been given the opportunity to market this prestigious asset and successfully execute its sale for the second time in four years.”

The 358-room, 24-building beachfront luxury resort is situated on 78 acres along the California coastline, 10 minutes from the Santa Barbara Airport and 35 minutes from the Santa Ynez Valley wine country. The property also includes three salt-water swimming pools, a 42,000-square-foot spa with 36 treatment rooms, a salon, fitness center and both indoor and outdoor event space.

HODGES WARD ELLIOTT MARKETING 424 BEDFORD AVENUE IN WILLIAMSBURG

May XX, 2017 – New York, NY – The New York office for Hodges Ward Elliott (“HWE”) announced they have been awarded the exclusive assignment to market the sale of 424 Bedford Avenue, a 63,866 square-foot, 21-story luxury rental property in Williamsburg, Brooklyn. The HWE team of Will Silverman, Managing Director, Paul Gillen, Managing Director, and Daniel Parker, Senior Vice President, are advising the ownership, East End Capital and KBS, on the sale.

The luxury doorman building, which was built in 2010, includes 66 units comprised of a mix of one-and-two bedroom apartments and represents the tallest building in South Williamsburg. Pricing for the property is expected to be in the “high-$40 million” range.

The property is also expected to address the doorman building supply/demand imbalance in the Williamsburg market. There is currently a 5.3 to 1 ratio of doorman units in South Williamsburg (539 total) compared to North Williamsburg (2,833 total) and the L train shut down is expected to drive doorman building renters into the South Williamsburg market even more.

Additionally, with 63% of Williamsburg residents working in Manhattan, the L train shutdown will force many North Williamsburg residents to find alternative public transportation to Manhattan. The J/M/Z line is considered the most convenient alternative.

“With the L train shutdown less than 2 years away, Williamsburg tenants are already starting to choose South over North, which is causing outsized rent growth near the J/M/Z trains,” adds Mr. Parker.

Hodges Ward Elliott Represents Time Warner in Sale of Fifty Percent Stake in Omni Atlanta Hotel at CNN Center

Atlanta, GA – April XX, 2017 – Hodges Ward Elliott (“HWE”), the world’s leading independent hotel brokerage and investment-banking firm, with offices in New York, Atlanta, Los Angeles and London, is announcing they represented Time Warner Inc. in the company’s recent sale of its remaining 50% interest stake in the Omni Atlanta Hotel at CNN Center to Omni Hotels & Resorts.

William M. Hodges, Chairman and CEO, and Mark Elliott, President, represented Time Warner in the transaction.

With this transaction, Omni Hotel & Resorts now has full ownership and management of the property. Omni had previously closed a deal in 2000 with Turner Broadcasting, a division of Time Warner, to purchase the south tower of the hotel and build a new 600-room north tower, which opened in 2003.

Located in downtown Atlanta, the Omni Atlanta Hotel connects to the CNN Center, Georgia World Congress Center, and the College Football Hall of Fame. The property features 1,059 guest rooms and suites and 45 meeting rooms with more than 120,000 square feet of function space, including a 19,864 square-foot Grand Ballroom.

Hodges Ward Elliott Represents Seller in Sale of Don CeSar Hotel in Florida

St. Pete Beach, FL  – February 22, 2017 – Hodges Ward Elliott (“HWE”), the world’s leading independent hotel brokerage and investment-banking firm, with offices in New York, Atlanta, Los Angeles and London, is announcing they represented the seller in the recently closed sale of the historic Don CeSar Hotel in St. Pete Beach, Florida to Host Hotels & Resorts.

The iconic 277 room hotel was built in 1928 and is known as the “Pink Palace” because of its distinctive pink facade.  The sale also includes the 70-room Beach House Suites for a total of 347 rooms. The property will be managed by Davidson Hotels & Resorts.

President Mark Elliott and Managing Director Pete Dannemiller of Hodges Ward Elliott represented the seller in the transaction.

 

Hodges Ward Elliott Arranges Financing for Acquisition of Sirata Resort Beach Resort in St. Pete Beach

St. Pete Beach, FL  – February 9, 2017 – Hodges Ward Elliott (“HWE”), the world’s leading independent hotel brokerage and investment-banking firm, with offices in New York, Atlanta, Los Angeles and London, is pleased to announce that it has recently arranged the acquisition financing for the Sirata Beach Resort in St. Pete Beach, Florida.

The senior loan for the 15.4-acre oceanfront resort was secured at 65 percent loan-to-cost and at highly favorable pricing terms to the borrower.

The closing of the loan also marks the first transaction completed by Hodges Ward Elliott’s new Capital Markets group, led by Managing Director/Group Head, Lawrence Britvan. Since forming the Hodges Ward Elliott’s Capital Markets group in October 2016, the team has ramped quickly under Mr. Britvan’s leadership with a robust transaction pipeline that currently features $1.1 billion in active assignments, ranging from convention center hotel construction financing to large select-service portfolio refinancings.

Before joining Hodges Ward Elliott in October 2016, Mr. Britvan had previously served as Senior Managing Director at Cantor Commercial Real Estate.

Hodges Ward Elliott Represents Seller in Sale of Landmark Ritz-Carlton San Francisco Hotel

San Francisco, CA  – January 11, 2017 – Hodges Ward Elliott (“HWE”), the world’s leading independent hotel brokerage and investment-banking firm, with offices in New York, Atlanta, Los Angeles and London, is announcing they represented Thayer Lodging Group, MetLife and Cascade Investment LLC in their recently closed sale of the iconic Ritz-Carlton San Francisco hotel. 

The landmark nine-story, 336 guest-room property, located in the heart of the famous Nob Hill neighborhood and situated along the famed California Street cable car line, was acquired by Carey Watermark Investors 2, a non-traded real estate investment trust focused on investing in lodging and lodging-related properties.

President Mark Elliott and Managing Director Pete Dannemiller of Hodges Ward Elliott represented the seller in the transaction.

Originally built in 1909, the neo-classical architecture property received landmark status in 1984 and has served under the Ritz-Carlton brand name since 1991. The joint venture acquired the property in 2013 and implemented over $20 million of capital improvements to the property under their ownership, including the renovation of all guest rooms and updates to the lobby, restaurant, meeting and event space and spa. Two new retail outlets and a fitness center were also added during the renovation. Since the completion of the numerous capital improvements, the hotel received several industry awards and remains the only AAA Five-Diamond Hotel in the San Francisco market.

“The Ritz-Carlton San Francisco stands out as not only the most luxurious hotel in the entire city, but also as an iconic property that has been in the market for over a century,” notes Mr. Elliott. “This hotel has served thousands of guests in comfort and style for years and we expect it to enjoy continued success under its new ownership. It was a great honor for Hodges Ward Elliott to have been given the opportunity to market this prestigious property and successfully execute its sale.”

The hotel will continue to be managed by The Ritz-Carlton Company, L.L.C. (The Ritz Carlton), an affiliate of Marriott International. Overall, the property includes:

  • 336 guest rooms
  • 23,000 square feet of newly-renovated meeting space including a 9,400-square-foot ballroom and a 2,200-square-foot interior courtyard and function space
  • Two food & beverage outlets (restaurant and lobby lounge)
  • L’Occitane Spa, wine tasting lounge and jewelry boutiques
  • Fitness and business centers

The San Francisco market remains strong and the expected limited opportunity for new hotel development in the coming years will boost the long-term value of the Ritz-Carlton San Francisco. In addition to its unmatched amenities, the property also has an excellent centralized location near numerous shopping and dining options, as well as easy access to major city destinations including the Financial District, Union Square, Fisherman’s Wharf and the Moscone Center.

Hodges Ward Elliott Represents Hersha Hospitality Trust in Sale of Two Washington, D.C. Market Hotels

January XX, 2017 – Hodges Ward Elliott (“HWE”), the world’s leading independent hotel brokerage and investment-banking firm, with offices in New York, Atlanta, Los Angeles and London, represented Hersha Hospitality Trust (HT), a real estate investment trust specializing in the hospitality sector, in its recently closed sale of two suburban Washington D.C. market hotels for $62.0 million.

The two hotels include the 203-room Courtyard by Marriott in Alexandria, VA, and the 120-room Residence Inn in Greenbelt, MD. President Mark Elliott, Managing Director Pete Dannemiller, and Senior Vice president Clint Hodges advised on the transaction and brokered the deal on behalf of the seller. 

Hodges Ward Elliott Represents Seller in Hotel Portfolio Sale

December 27, 2016 – Hodges Ward Elliott (“HWE”), the world’s leading independent hotel brokerage and investment-banking firm, with offices in New York, Atlanta, Los Angeles and London, represented leading investment firm, Rockbridge in the recently closed sale of a hotel portfolio which includes both the Le Méridien Atlanta Perimeter in Atlanta GA and the Marriott Louisville East in Louisville KY.

President Mark Elliott, Managing Director Pete Dannemiller, and Director Michael DiPrima advised on the transaction and brokered the deal on behalf of the seller, Rockbridge.  The portfolio was acquired by a private equity firm based in the Northeast along with Schulte Hospitality Group based out of Louisville. Schulte will also operate the hotel going forward.

Both assets are considered “best in class” in their respective submarkets and have undergone significant capital improvement plans over the last few years. The 275-room Le Méridien Atlanta Perimeter, located at 111 Perimeter Center West Atlanta, underwent a 12-month, $20 million renovation that was completed in 2013. The 252-room Marriott Louisville East, located at 1903 Embassy Square Blvd and formerly known as the Park Inn hotel, received an 18-month, $30 million total refurbishment that was completed in 2012.

“Investors continue to have a strong appetite for high quality hotel assets,” said Mr. Dannemiller. “The two hotels in this portfolio boast great locations in strong markets for both business and leisure and their recently completed upgrades make them even more appealing. Our strong relationship and familiarity with both the buyer and the seller allowed HWE to effectively execute on behalf of our client.”

Hodges Ward Elliott Represents Seller in Hotel Portfolio Sale

December 27, 2016 – Hodges Ward Elliott (“HWE”), the world’s leading independent hotel brokerage and investment-banking firm, with offices in New York, Atlanta, Los Angeles and London, represented leading investment firm, Rockbridge in the recently closed sale of a hotel portfolio which includes both the Le Méridien Atlanta Perimeter in Atlanta GA and the Marriott Louisville East in Louisville KY.

President Mark Elliott, Managing Director Pete Dannemiller, and Director Michael DiPrima advised on the transaction and brokered the deal on behalf of the seller, Rockbridge.  The portfolio was acquired by a private equity firm based in the Northeast along with Schulte Hospitality Group based out of Louisville. Schulte will also operate the hotel going forward.

Both assets are considered “best in class” in their respective submarkets and have undergone significant capital improvement plans over the last few years. The 275-room Le Méridien Atlanta Perimeter, located at 111 Perimeter Center West Atlanta, underwent a 12-month, $20 million renovation that was completed in 2013. The 252-room Marriott Louisville East, located at 1903 Embassy Square Blvd and formerly known as the Park Inn hotel, received an 18-month, $30 million total refurbishment that was completed in 2012.

“Investors continue to have a strong appetite for high quality hotel assets,” said Mr. Dannemiller. “The two hotels in this portfolio boast great locations in strong markets for both business and leisure and their recently completed upgrades make them even more appealing. Our strong relationship and familiarity with both the buyer and the seller allowed HWE to effectively execute on behalf of our client.”

Hodges Ward Elliott Represents Seller in Embassy Suites Nashville Airport Hotel Sale Transaction

December 15, 2016 – Hodges Ward Elliott (“HWE”), the world’s leading independent hotel brokerage and investment-banking firm, with offices in New York, Atlanta, Los Angeles and London, represented the seller in the recently closed sale of the Embassy Suites Nashville Airport hotel, one of the largest hospitality assets near the popular Nashville International Airport.

HWE CEO Bill Hodges, President Mark Elliott, and Director Michael DiPrima advised the seller on the transaction and brokered the deal.  The all-suite, 296-room hotel, was acquired by a private equity firm based in the Northeast along with Schulte Hospitality Group based out of Louisville. Schulte will also operate the hotel going forward.

“The strength of the Nashville hospitality market, great location and strong cash flow of the Embassy Suites Nashville Airport made it an attractive investment,” said Mr. Hodges. “We were able to market the property, identify a well-capitalized investor and complete the sale. This transaction worked out well for both the buyer and the seller and we are pleased to have brought this deal to a successful close.”

Hodges Ward Elliott Represents Seller in Sale of the Renaissance Atlanta Midtown

Atlanta, GA – August 31, 2016 – Hodges Ward Elliott (“HWE”), the world’s leading independent hotel brokerage and investment-banking firm, with offices in New York, Atlanta, Los Angeles and London, represented the former owner in the recently closed sale of the Renaissance Atlanta Midtown Hotel.  The 21-story, 304 guestroom property, is located in Midtown Atlanta and was acquired by Carey Watermark Investors 2, a non-traded real estate investment trust focused on investing in lodging and lodging-related properties.

President Mark Elliott and Managing Director Pete Dannemiller of Hodges Ward Elliott, represented the seller in the transaction.

Constructed in 2009, Renaissance Atlanta Midtown Hotel is located at the northwest corner of West Peachtree Street and Abercrombie Place, in Midtown Atlanta. The property became part of the Marriott Renaissance lodging brand in 2011 and has also undergone more than $3 million of capital improvements over the last few years, including a complete redesign of its signature restaurant, Community Smith.  Additional property improvements, including a renovation of the guestrooms along with improvements to public areas and meeting space, are also being planned.

“The Renaissance Atlanta Midtown is an incredibly well-built and impeccably located hotel with strong in-place cash flow. The property will make a perfect edition to Carey Watermark’s impressive portfolio,” said Mark Elliott.

The property includes:

  • 304 guest rooms including 17 suites
  • 8,600 square feet of meeting space
  • Full-service restaurant
  • Rooftop bar and lounge
  • 24-hour spa/fitness center
  • 24-hour business center

The Midtown Atlanta market continues to expand. In addition to 14.7 million square feet of Class-A and Class-B office space, Georgia Tech, the Coca Cola headquarters and the 189-acre Piedmont Park, Midtown is also considered to be the cultural center of the city. As one of the few full-service hotels in Midtown Atlanta, the Renaissance is ideally located to take advantage of the market’s lodging growth opportunities.

Hodges Ward Elliott Advises on $88.25 MM Luxury Hotel Sale in Scottsdale

Scottsdale, AZ– July 19, 2016 – Hodges Ward Elliott (“HWE”), a leading independent hotel brokerage and commercial real estate investment banking firm, with offices in New York, Atlanta, Los Angeles, London and Seoul has represented Lowe Enterprises Investors in the sale of the Royal Palms Resort and Spa. Hyatt Hotels Corporation purchased the historic, iconic property for $88.25 million and a record $742,000 per guest room.

HWE’s Los Angeles office managed the investment sales process.

“This is a superb, historic property that has been the centerpiece of the local landscape since 1929 and we’re delighted that Hyatt Hotels will carry on the Royal Palms’ storied tradition as one of the most iconic Properties in the U.S.,” said Mark Elliott, President of Hodges Ward Elliott. “We are delighted we could assist Lowe Enterprises Investors in such a monumental and record-breaking transaction.”

The Royal Palms Resort and Spa is nestled at the foot of Camelback Mountain and borders Scottsdale and Paradise Valley. It will continue to operate as the Royal Palms Resort and Spa and will become affiliated with The Unbound Collection by Hyatt. The hotel offers 119 oversized guestrooms, suites, casitas and villas, and more than 21,000 square feet of estate-like indoor and outdoor meeting space. It first opened in 1929 as the home of wealthy New York financier Delos Willard Cooke. The property drew immediate attention and became a beloved local landmark known for its Mediterranean and Spanish Colonial architecture and luxurious landscaped grounds.

HWE is a leading hotel brokerage and commercial real estate investment banking firm, providing total capital solutions including investment sales, recapitalizations and debt placement for our clients. HWE has completed more than $46 billon in real estate transactions.

Hodges Ward Elliott Represents Seller in $154 Million San Jose Marriott Hotel Sale

San Jose, CA – July 18, 2016 – Hodges Ward Elliott (“HWE”), the world’s leading independent hotel brokerage and investment-banking firm, with offices in New York, Atlanta, Los Angeles and London, is announcing the sale  of the San Jose Marriott, a 27-story hotel in the heart of Silicon Valley, on behalf of the owner. 

The downtown San Jose based property was sold for $154 million to Carey Watermark Investors 2 Incorporated (CWI 2), a non-traded real estate investment trust focused on investing in lodging and lodging-related properties.

Mark Elliott, President of Hodges Ward Elliott, represented the seller in the transaction.

The asset, built in 2004 and recently renovated with over $10 million of capital improvements, includes 510 guestrooms as well as 23,000 square feet of meeting and event space, three food and beverage outlets, a concierge lounge, business center, fitness center and outdoor swimming pool.

“The San Jose Marriott is an outstanding asset when you combine the quality of the hotel and its downtown location right in the heart of one of the most sought-after Silicon Valley regions,” said Mr. Elliott. “We were able to identify a quality buyer, one we have worked with on other acquisitions. Our team is thrilled to have led the effort on completing the sale of this incredible property located in the world-class San Jose neighborhood.”

The San Jose market continues to be one of the nation’s highest growth markets for technology which also fuels the demand for lodging. The hotel benefits from a convenient downtown San Jose location with a direct connection to the McEnery Convention Center as well as close proximity to San Jose State University, the Tech Museum of Innovation, the San Jose Museum of Modern Art and the SAP Center, home of the NHL’s San Jose Sharks.

Hodges Ward Elliott Represents HEI Hotels & Resorts in Sale of the 154-room Le Méridien Arlington

Arlington, VA - Hodges Ward Elliott (“HWE”) has represented HEI Hotels & Resorts (“HEI”) in the sale of the Le Méridien Arlington hotel.  Built in 2008, the property was converted to the Le Méridien brand in 2012 after being acquired by HEI. Carey Watermark Investors 2, Incorporated, a non-traded real estate investment trust acquired the Le Méridien Arlington.

The hotel includes 154 guestrooms, 9,300 square feet of indoor and outdoor event/meeting space, a full-service restaurant and lounge, business center and fitness center. The hotel is part of a mixed-use development which includes 621,000 square feet of Class A office space, and 136 residential units as well as the 154-room Le Méridien.

Centrally located in the urban village of Rosslyn, a submarket of Arlington, VA, across the river from Georgetown, the property is in close proximity to top destinations in the Washington, DC area. Following the sale, the hotel will continue to be operated by HEI.

HWE is the leading hotel brokerage and investment-banking firm in the country providing total capital solutions, including hotel sales, recapitalizations and debt placement for our clients.  Over the past 5 years, HWE has sold or financed more than $19 billion of hotels and resorts across the U.S. including more than $6.1 billion in the past 18 months.

Hodges Ward Elliott Advises on $64.5 MM Miami Luxury Hotel Sale

Miami, FL – June 2, 2016 – Hodges Ward Elliott (“HWE”), the world’s leading independent hotel brokerage and investment-banking firm, with offices in New York, Atlanta, Los Angeles and London, announced that it has represented the seller in the recent $64.5 mm sale of the former Viceroy Miami, a luxury full service hotel in Miami, Florida. The hotel is now part of Starwood Hotels & Resorts’ W brand.

The property was sold by Pebblebrook Hotel Trust, (NYSE:PEB), a publicly traded real estate investment trust (“REIT”) organized to opportunistically acquire and invest primarily in upper upscale, full-service hotels located in urban markets in major gateway cities.  Mark Elliott, President and Rudy Reudelhuber, Managing Director with Hodges Ward Elliott, represented the seller in the transaction.

The property was sold to an off-shore buyer. Over the last several years, HWE has developed numerous relationships with prominent international investors and according to recent statistics from Real Capital Analytics, the firm is ranked as the number one brokerage in the industry for foreign access with 49% of transaction volume being sold to off-shore purchasers.

"This was a win-win for both the seller and the buyer,” notes Mr. Reudelhuber. “This is a magnificent iconic property in one of South Florida’s most desirable destinations and we’re confident the hotel’s new owners will be able to unlock its full potential. This transaction also exemplifies the unmatched ability of HWE to successfully work with off-shore buyers. Our firm’s frequent visits overseas and unique data-driven approach is the driving force behind our continued success and the amount of deals we are brokering with international investors.”

Located in downtown Miami at the northern gateway to Brickell Avenue, the property is a luxury hotel centrally located near the city's many distinctive neighborhoods, cultural institutions, sporting venues and area attractions.  The resort includes 148 guestrooms, suites and one- and two-bedroom residences.

HODGES WARD ELLIOTT REPRESENTS OWNER IN $69,000,000 REFINANCING FOR 31 WEST 27TH STREET MANHATTAN OFFICE BUILDING

February 17, 2016 – New York, NY – The New York office for Hodges Ward Elliott (“HWE”), the world’s leading independent hotel brokerage which expanded last year into commercial property sectors, announced they have arranged a $69,000,000 loan on behalf of an institutional real estate investment firm. The funding will be used to refinance 31 West 27th Street, a 144,000-square-foot, 12-story, loft-style office building in Manhattan’s Midtown South neighborhood.

Having completed an extensive repositioning and significantly grown income since first purchasing the asset, the new funding that HWE helped secure will allow the owner to complete its strategic business plan for 31 West 27th Street and continue to capture the substantial demand for tenants in the area.  The loan was provided by TD Bank, N.A.

“31 West 27th Street has been positioned to take advantage of the continued demand for well-located, improved office assets in Midtown South,” said Will Silverman, Managing Director of HWE.  “Our knowledge of the asset and the Midtown South market enabled us to help the owner maximize the value of its investment.”

The HWE New York team is located at 1140 Avenue of the Americas and is the firm’s dedicated practice to commercial investment sales and financing brokerage, including retail, office, multifamily and land.

HODGES WARD ELLIOTT BROKERS $140,000,000 BRONX PORTFOLIO SALE

March 2, 2016 – New York, NY – The New York office for Hodges Ward Elliott (“HWE”), the world’s leading independent hotel brokerage which expanded last year into commercial property sectors, announced they have brokered the $140,000,000 sale of a 38-building, 1,000 unit multifamily portfolio in the Bronx to Harbor Group International in partnership with Emerald Equities and York Capital.

The portfolio was marketed exclusively by Daniel Parker, Will Silverman and Paul Gillen of Hodges Ward Elliott and represents the largest portfolio sold in the Bronx since 2013. This is also Harbor Group International’s first multifamily purchase in the Bronx market, a significant addition to their already extensive $3.5 billion real estate portfolio, comprised of multifamily, office, hotel and retail properties.

Hodges Ward Elliott reviewed over a dozen bids for the highly coveted portfolio from institutional, private, foreign, and even public sources of capital since first putting it on the market. The portfolio is comprised of several clusters of walk-up mixed-use buildings spread throughout Bronx neighborhoods including Mott Haven, Hunts Point, Lower Concourse, Little Italy, Belmont, Fordham and Bedford Park.

“A lot of smart money is acquiring large portfolios of non-luxury multifamily because they offer safe cash flows and enjoy demand from a deep pool of renters. For many bidders, it was their first property tour of the Bronx and the response was very positive for this product and location,” said Mr. Parker, a Senior Vice President at Hodges Ward Elliott. “This transaction makes clear that we are on the front end of more institutional investment in the Bronx. As Brooklyn and Manhattan become increasingly expensive, the Bronx remains an affordable alternative for New Yorkers that commute to the office districts in Manhattan.”

“We were able to position the portfolio with sophisticated financial underwriting and market acumen to attract new institutional capital sources to the Bronx, as reflected in the strong pricing,” added Mr. Silverman, Managing Director at Hodges Ward Elliott.

The transaction also comes on the heels of the HWE New York team’s recent arranging of a $69,000,000 office refinancing for 31 West 27th Street, an office building in Manhattan’s Midtown South neighborhood. The team is based at 1140 Avenue of the Americas and is the firm’s only dedicated practice to commercial investment sales and financing brokerage, including retail, office, multifamily and land.