Strategic Partnership with Hilton & Hyland

By | Corporate Update

PowerPlay Destination Properties and Hilton & Hyland, Southern California’s top luxury real estate firm, are pleased to announce a strategic partnership. Both companies look forward to working together on future opportunities. Continue reading for the official press release.

Hilton & Hyland and PowerPlay Destination Properties Announce Strategic Partnership

Beverly Hills, Calif., July 16, 2015 /PRNewswire/ — : Hilton & Hyland and PowerPlay Destination Properties announced today a strategic partnership to converge the two companies’ rich histories in the sales and marketing of new development properties, bringing both organizations’ unique and storied backgrounds together as a singular, cohesive team.

Both firms are led by leading experts in their field, and the partnership brings together the distinct backgrounds and experiences of Jeff Hyland, President, Hilton & Hyland, and Rick Hilton, Chairman, along with Mark Herbert, Erika Alm, and Stuart Carson, Principals of PowerPlay Destination Properties.

“The breadth and scope of projects PowerPlay has been involved with, combined with the depth and diversity of the projects Hilton & Hyland has been involved with, make this the perfect strategic partnership for us to collectively bring to life best-in-class development projects with myriad moving parts,” said Jeff Hyland, President, Hilton & Hyland.

“As an organization, PowerPlay is a diverse group of seasoned project real estate strategists, marketers, sales leaders, sales coaches, and researchers with decades of combined experience.  We each bring our experience and skills in marketing and selling unique real estate communities. Collectively, we can leverage all of our skills on every project. Hilton & Hyland is recognized as the preeminent luxury real estate sales and development firm in Los Angeles, and we are thrilled to establish a partnership with them. By adding our expertise to the mix, we are able to strengthen the diversity of background and experience, to provide the absolute best team of development executives and experts in their respective fields,”said Erika Alm, Principal, PowerPlay Destinations.

“As the new development market is on a continual upward trajectory, we look forward to ensuring that our team remains ahead of the constantly-evolving curve, being well-positioned for the upward growth in an arena that is ostensibly underway,” Hyland added.

About Hilton & Hyland

Beverly Hills-based Hilton & Hyland (hiltonhyland.com) was established in 1993 as a boutique real estate firm to provide extremely personalized service to buyers and sellers of luxury properties. Founders Rick Hilton, grandson of the famous hotel developer, and Jeff Hyland, one of the most recognizable figures in Los Angeles real estate, have built their company from the ground up. Hilton & Hyland is the Founding Member of Christie’s International Real Estate and is the exclusive affiliate of Luxury Portfolio, expanding their international reach to over 650 affiliates worldwide. In the 2015 REAL Trends “The Thousand” annual report, 10 Hilton & Hyland associates ranked in the top 150 agents in the U.S. by sales volume, the highest number of any brokerage in Los Angeles. With over $2.9 billion in transactions in 2014, Hilton & Hyland is recognized as the top luxury real estate firm in Los Angeles.

MEDIA CONTACT:

Brandon Shaw
Director, Written Communications and Media Relations
Hilton & Hyland
310.278.3311
BShaw@hiltonhyland.com

SOURCE: Hilton & Hyland

RELATED LINKS
http://www.hiltonhyland.com

A Mid-Year Market Update from the Team at Montgomery Plaza

By | Montgomery Plaza, Project Update

Our sales team at Montgomery Plaza put together a mid-year market update. Looks like things are not slowing down in the Fort Worth real estate market:

A Mid-Year Market Update

2014 continues to be busy here at Montgomery Plaza. The first half of the year has gone by quickly and we have seen a lot of sales activity in the Fort Worth real estate market.

Fort Worth condo prices continue to rise, driven by scarce inventory, high demand and year over year sales growth. Mortgage rates continue to be very low and the local Fort Worth economy has added many jobs increasing the desire to live in this thriving and growing city. Here at Montgomery Plaza, 2014 brings new sales records, including closing on 7 homes in the month of May alone.

In the Fall of 2013, we introduced our boutique, luxury offering, The Private Residences. These spacious homes located on the 7th and 8th floors of the East Tower have amazing views, private elevator access and more. We have seen great demand for these 14 preferred homes, with only 3 remaining since their introduction to the market.

As we enter our summer season, we continue to see great interest in our offering. We expect prices will continue to increase and that demand for urban luxury living in Fort Worth will stay strong. Given that we have already welcomed 26 new homeowners to our building in 2014, we expect many more to call Montgomery Plaza home later this year.

To find out more about ownership opportunities at Montgomery Plaza in Fort Worth, contact the onsite sales team. 

Sincerely,

Denise Edmondson, Licensed Broker & Tyler Pollock, Realtor
PowerPlay Texas Licensed Broker

Over $250 Million in Real Estate Sold

By | Corporate Update, Hollywood, Honua Kai Resort & Spa, Montgomery Plaza, Project Update

2014 has been a great year so far for PowerPlay. We’ve seen the market improvements continue to solidify across the US, both in terms of sales velocity and average price, and we have experienced record sales months at all of our active projects.  And what better way to celebrate than by hitting ¼ billion dollars in sales to date, of which over $100 million has been in the last year.

At Honua Kai Resort & Spa on Maui, we have sold 70 homes in the past 18 months and set a new record this May with 12 closings totaling $18M in sales that month and a further $17M of sales in escrow.  The market in Hawaii continues to improve and buyers continue to be drawn to what is arguably the best new condo product on West Maui.

The market is ablaze in Fort Worth as well.  Montgomery Plaza, located in the heart of the West Seventh Street District downtown, hit record-breaking sales last month with 7 homes closed in May and another 6 closed in the first two weeks of June.  With the economy across Texas continuing to thrive, we are looking forward to a very busy summer season at Montgomery Plaza.

In California, we have seen similar results at The Residences at W Hollywood, a luxury property located in the heart of Hollywood.  There has been a strong increase in demand at the higher end segment of the market where we have just closed another Penthouse at over $3M, leaving the project close to 85% sold out.

Looking forward to the second half of 2014, we are excited for what is coming and would like to thank our clients, buyers, and team of outstanding sales and marketing professionals, for all the support and hard work.

Honua Kai on Island and Style

By | Project Update

Included below is a news feature of the Honua Kai project included in the San Francisco Chronicle’s “Island Style” magazine:

Honua-Kai_Living-RoomHonua Kai Resort & Spa: The newest resort development to open in West Maui in over 25 years brings more than just pools and relaxation. World-class amenities combine with the spirit of aloha to make the resort a getaway for homeowners from near and far.

The resort was recently showcased on the front cover of the San Francisco Chronicle’s “Island Style” magazine. The article features Honua Kai’s resort real estate offerings along with a words from a few homeowners.

Click here to download the PDF.

Take a look at some of the latest real estate offerings at Honua Kai.

A West Maui Market Update from Honua Kai Resort & Spa

By | Project Update

Below is a recent market update from Susan Jackson, Director of Sales at Honua Kai Resort & Spa, PowerPlay’s project located in West Maui, Hawaii:

2013 was a great year for Honua Kai and for west Maui real estate in general.  Here is my take on 2013, along with some predictions for 2014.

Sales Volume

2013 was a good year, with increases in sales across all price bands. Honua Kai represented a significant percentage of total west Maui condo market; over 20% of all transactions on west Maui and over 2/3 of the market in some higher price bands.

Sales in the $400,000 – $1 million price range remained steady in 2013 showing only modest increases over 2012. This end of the market was the first to rebound after the recession with a huge increase between 2011 and 2012. With just a few homes left to sell in this price range, I haven’t spent much time analyzing this segment of the market, but I anticipate sales to remain steady in 2014.

2013 saw the strongest growth in the $1 million – $2 million range with a 75% increase in sales volume vs. 2012. At Honua Kai we saw the number of sales in this price range increase an astonishing 13 fold over 2012 and I anticipate continued sales growth in 2014.

Honua Kai 2014 Projections
Source: Paragon MLS, PowerPlay 2014 projections

At the top end of the condo market ($2million+) we saw very positive results in 2013. Sales volume increased by 70% vs. 2012 for west Maui as a whole and we grew our market share of this price band to an impressive 67%, with demand for our premium 3 bedroom residences increasing dramatically . I predict a more modest increase in 2014 but still expect to see the highest sales volume at this end of the market in many years.

Prices

Prices in 2013 continued the recovery that started in 2011, improving steadily in all price bands. Interestingly the biggest increases were seen in the $2million+ range where we saw a 13% increase in prices over 2012 for like-sized units. Coupled with the increase in overall transaction volume, we’re excited to see the return of the top end of the condo market.

2013 price gains at Honua Kai significantly exceeded the market at all price bands with an impressive 28% overall increase year on year in prices of like-sized units.   Coupled with our strong volume growth of larger homes, the average sales price for a home sold at Honua Kai in 2013 was over 80% higher than in 2012!

Based on these results we recently announced that prices would be raised on 15 homes, effective February 28, 2014.  I guess we gave you too much notice:  14 of the 15 homes went under contract before the new prices came into effect!

Resales

The resale market remains very quiet at Honua Kai, with just 18 homes currently listed. A typical resort resale market is around 14% of total inventory.  At Honua Kai we have just 2% and the majority of these are one-bedroom homes located on the exterior perimeters of the towers.  I think this is a great testament to the benefits of hone ownership at Honua Kai.

In Conclusion

2013 was a great year for everyone in west Maui real estate and we are delighted to have outperformed the market and gained market share across all price bands, especially at the higher end of the market.  Despite 14 canny new owners beating us to the punch, we have seen great gains in prices too.  Based on this and the fact that we’ve already seen five 3 bedroom homes in the $2Million + range go under contract since January 1, I believe 2014 will be a very exciting year for Honua Kai and for west Maui condo sales.

To find out more about real estate opportunities at Honua Kai, visit www.ownhonuakai.com.

(c) PowerPlay Destination Properties Inc.