Wednesday, November 18, 2009

Scheduled Auction of the Plaza's entire 10th Floor Cancelled by Legal Counsel in Bankruptcy Proceedings

ORLANDO, FL,  Nov. 18, 2009.... Worldwide Auction Realty Services’ auction of the entire 61,545 square foot 10th Floor of the Plaza (top right photo)  on Orange Ave. and Church St. in downtown Orlando scheduled for 5 p.m. Thursday, Nov. 19 has been cancelled.

In a prepared statement, Jon Chipps, managing director for Worldwide Auction Realty Services said his firm was informed by the legal counsel for Plaza LLC, Elizabeth Green, that the United States Bankruptcy Court, Middle District of Florida granted a continuance to parties involved in the Plaza LLC bankruptcy.

Green confirmed that the Plaza creditors did not approve the debtor’s reorganization plan and as such, a new hearing date was scheduled for Jan. 18, 2010.

Chipps said Green’s announcement was unforeseen and that the auction had been approved by Plaza LLC managing member, Cameron Kuhn. (middle left photo)

Chipps added that the Worldwide Auction Realty Services team had made a considerable investment in facilitating the auction and that he was very disappointed that the parties were unable to reach an agreement.

Chipps also expressed his apologies to any potential auction buyers that had invested their time in preparing to purchase at the auction.

For more information, contact,
Jon or Lori Chipps, Worldwide Auction Realty Services, 800 327-104
Larry Vershel or Beth Payan, Larry Vershel Communications 407 644-4142

Beazer Homes Renews Lease in Maitland Center for Florida Division Headquarters

MAITLAND, Fla. --- Beazer Homes has renewed its lease of the 14,713 square feet of Class A office space it occupies at 2600 Maitland Center Parkway (top left photo).

 The Florida division headquarters office lease was renewed for five years and Craig Castor of Cresa Partners represented Beazer in the transaction. Emerson International is the landlord.

For more information, contact:
David Byrnes,  President Beazer Homes / Florida Division - 407-339-4114
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

Marcus & Millichap Sells 117-Room Hotel in Titusville, FL

 TITUSVILLE, FL, Nov. 18, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Comfort Inn,  (top left photo) a 117-room hotel property located in Titusville, Florida, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $3,000,000.

Jaimin P. Patel, a Senior Associate in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a bank/financial institution.

Comfort Inn is located at 3655 Cheney Highway. This is a 117-room hotel built in 1974, located just off I-95 and situated just eight miles from NASA and Cocoa Beach. Comfort Inn is the largest Choice Hotels brand and one of the leading mid-scale, limited-service chains in the world.

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

Arbor Commercial Mortgage Appoints Charles Ostroff to Chief Underwriter

UNIONDALE, NY (Nov/18,  2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC and leader in the commercial real estate finance industry, today announced the appointments of Charles Ostroff to Chief Underwriter. Mr. Ostroff is based out of the Company’s New York office and reports to John Caulfield, (top right photo) Chief Operating Officer.

Prior to joining Arbor, he served as Vice President/Client Manager and Chief Multifamily Underwriter for Zenta, a third-party due diligence and consultancy firm, where he managed the company’s multifamily and affordable housing due diligence and underwriting platform and served as the Senior Underwriter for several CMBS transactions.
Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555,, Follow us on Twitter @ arbor1

Cuhaci & Peterson Architects Awarded Contract to Design Remodel of Hannaford Supermarket in Hudson, N.H.

ORLANDO, FL – Cuhaci & Peterson Architects, LLC based in Orlando’s Baldwin Park was recently awarded a contract to design the exterior and interior renovations of a Hannaford Supermarket.

Lonnie Peterson, (top right photo) chairman of Cuhaci & Peterson, said the 35,000 square foot facility is located in Hudson, N.H., a bedroom community of the metropolitan Manchester area.

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, 407-644-4142