HOUSTON, TX – Medistar Corporation announced that it closed on financing and started construction on the new InterContinental Houston Medical Center hotel and Latitude Med Center luxury apartment tower located at the intersection of Main Street and Ancient Main Street in Houston, Texas. The site is immediately adjacent to the Texas Medical Center, the largest medical complex in the world with 50 million square feet of buildings, on 1,345 acres, supporting 8 million patient visits annually.

“The project includes more than 1.1 million square feet of upscale hospitality and residential solutions to meet the growing market demands not only for the Texas Medical Center, which has an increasing number of international travelers familiar with the InterContinental brand, but also the Greater Houston Area,” said Kelly Lindig, Vice President at Medistar and lead development officer for the project. Lindig brings both mixed-use development and over 20 years of hotel development experience, comprising $2 billion in project value.

Lindig added, “The residential and hospitality aspects of the project are designed to complement each other and will benefit the entire region. You could say that our ‘across the street marketing plot’ allows for stability for the hotel because of the proximity to the Texas Medical Center, while also providing a walkable solution for anyone looking for a nearby apartment home. Partnering with Greystar for the second tower makes this project work.”

InterContinental Houston Medical Center is the first full-service luxury hotel to be developed in the immediate area in several decades and will provide modern four-star accommodations, amenities and guest services for domestic and international travelers. With 21 tales, the hotel features 353 guestrooms and suites and includes 11,800 square feet of meeting space – comprised of seven meeting and board rooms and a 7,800 square foot Grand Ballroom.

Monzer Hourani, Founder and CEO of Medistar, said, “InterContinental Houston Medical Center will meet a critical need for guests visiting and doing business with the world-renowned Texas Medical Center and its member institutions. We are proud to partner with IHG to bring this project to life.”

Scheduled to open in late 2018, InterContinental Houston Medical Center is being developed by Medistar through a joint venture partnership with TRC Capital Partners. The hotel will be owned by Medistar and managed by InterContinental Hotel Group (IHG).

TRC Capital Partners, formerly The Redstone Companies, brings extensive high-rise development and hospitality operating experience to the joint venture. Steve Lerner, CEO of TRC Capital, said, “InterContinental Houston Medical Center will be a thoroughly modern, upscale hotel and meeting space for the Texas Medical Center community. We are delighted to partner with Medistar on this landmark project.”

Joel Eisemann, IHG’s Chief Development Officer of the Americas, said, “We are very enthused about working with our partners at Medistar Corporation to bring the InterContinental Hotels & Resorts brand to Houston and the Texas Medical Center, which serves patients and visitors from all around the world. We appreciate Monzer Hourani’s vision for and commitment to this outstanding project.”

InterContinental Houston Medical Center was designed by HOK, is being built by GHJ Construction and is scheduled for completion in late 2018.

Medistar selected Greystar, the largest operator of apartments in the United States, as its partner for the 35-tale Latitude Med Center luxury apartment tower.

“We are excited to be able to offer a new upscale living option this close to the Texas Medical Center,” said Bo Chapman, Director of Development for Greystar. “Standing side-by-side on a site barely more than an acre, design of the hotel and apartment towers forced meticulous coordination between the development teams, often playing to each other’s strengths to find solutions to unique challenges.”

Latitude Med Center will offer a variety of one, two and three-bedroom floor plans as well as penthouses, ranging in size from 349 to 3767 square feet of living space. From well-appointed interiors with modern living spaces to amenities that include a rooftop infinity pool, separate 10th floor amenity deck and concierge services, the community will meet the needs of any lifestyle.

Designed by The Preston Partnership, Latitude Med Center is being built by Hoar Construction and scheduled for completion in late 2018.

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NEW ORLEANS, LA – 365 Connect, a leading provider of award-winning marketing, leasing, and resident technology platforms for the multifamily housing industry, announced today that the company has received a gold Muse Creative Award for its Marketing Syndication Platform. This prestigious international award recognizes 365 Connect’s capabilities to deliver innovative and creative solutions to meet the rapidly-changing needs of the multifamily housing industry.

The Muse Creative Awards is an international competition for creative professionals who hold the unique ability to inspire through concept, writing, or design whether it’s through traditional or electronic media. From broadcast and print to social media and emerging platforms, winners were selected in a broad scope of categories.  Administered by the International Awards Association, winning entries are carefully selected by a panel of creative professionals from around the globe. This year’s competition  boasted entries from 33 countries including Argentina, Brazil, Belgium, Canada, China, Denmark, France, Germany, India, Italy, Japan, Luxembourg, Macau, Malaysia, Mexico, New Zealand, Netherland, Poland, Portugal, Russia, Singapore, Switzerland, Sweden, Spain, Taiwan, Thailand, Turkey, Ukraine, United Arab Emirates, United Kingdom, and United States.

“We wish to recognize the singular achievements of small and medium-sized firms and the creative professionals who represent the heart and soul of the global marketing communications industry,” said Kenjo Ong, co-managing director for the Muse Creative Awards. “They follow the spark of an inner muse, lighting the path to success with deep knowledge and bright originality.”

365 Connect was fortunate enough to be recognized for its revolutionary Marketing Syndication Platform by the Muse Creative Awards. The 365 Connect Marketing Syndication Platform delivers automated listings with real-time updates to high-traffic housing search engines and classified websites. Ultimately, it offers a fully-integrated solution that eliminates redundant marketing efforts and seamlessly updates pricing, imagery, content, and availability from a single platform. The platform is proven to reduce operating expenses while simultaneously increasing qualified prospect traffic for multifamily housing operators.

365 Connect Founder and CEO, Kerry W. Kirby, stated, “365 Connect is pleased to have its technology platform acknowledged on an international level, and we are truly honored to receive this highly acclaimed award. Our focus is to connect both future and existing residents with where they live by providing a host of services, resources, and communication tools. This award emphasizes our dedication to meeting our clients’ needs of optimizing lead flow, reducing marketing spend, and extending their communities reach across the web.”

Ong added, “Winning a Muse Creative Award is a significant career accomplishment for the recipients.  With vetted panelists, tough criteria, blind judging processes, and strict bylaws limiting winners, only the best entries received recognition. The creative work this year was truly outstanding and inspiring.”

To date, 365 Connect has received a total of 40 national and international awards, symbolizing its dedication to delivering leading-edge technology. The 365 Connect Technology Platform is highly recognized by its peers for its unique ability to market communities across the Internet, automate social media, and deliver desktop and mobile platforms to prospects and residents. Today, 365 Connect’s innovative technology platforms are utilized across the nation, aiding the most respected multifamily housing operators by providing them with the ability to manage their marketing, leasing, and resident services from a single sign-on interface.

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NEW YORK, NY – Fairstead Capital announced the buy of Savoy Park Apartments, a 1,790-unit, 10.5-acre multi-family campus in Central Harlem for $315 million. The buy represents Fairstead’s continued support for New York City affordable housing and the company’s long-term belief in Harlem. The property was sold by an investor group that includes L+M Development Partners and Savanna.

Comprised of seven, 16-tale buildings, Savoy Park is 100% rent stabilized and a historical piece of New York City. In collaboration with the City and in congruence with Fairstead’s belief in the importance of New York City affordable housing, Fairstead enhanced and strengthened the existing regulatory agreement, ensuring the property remains affordable until at least 2052.

Fairstead plans to make significant improvements to the property including upgraded security systems, improved public spaces and landscaping and modern renovations to all interior common spaces.

Jeffrey Baker and Graham Hobbs at Savills Studley and Victor Sozio and Shimon Shkury at Ariel Property Advisors represented the seller as the investment sales advisors on the transaction.

Laurie Grasso, Anthony Bonan and Douglas Hoffmann of Hunton & Williams LLP represented the seller. The purchaser was represented by: Joelle Halperin, Jonathan L. Mechanic, Patrick Greeley, Andrew Ebersbach, Lee Parks, Larissa Kravanja, Melissa Brown of Fried, Frank, Harris, Shriver & Jacobson LLP; and Russel Kivler and Gill Benedek of Hirschen Singer & Epstein; and Danielle Epstein-Day and Mitchell Taras of Sadis & Goldberg LLP; and John Engel of Ballard Spahr.

Fairstead Capital is a real estate investor and manager specializing in New York City multifamily property. Fairstead owns approximately $2.5 billion worth of real estate, comprised of over 6,000 market-rate, work-force and affordable rental units on behalf of its principals and investors.

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