Sunday, June 13, 2010
NEW YORK CITY, NY-- Delinquencies for U.S. CREL CDOs again declined slightly last month as asset managers continue to both extend loans and trade out credit risk assets, according to the latest U.S. CREL CDO delinquency index results from Fitch Ratings, which are included in this week’s U.S. CMBS newsletter.
Three previously delinquent assets were disposed of by
asset managers at losses ranging from 20% to 99.8% of par.
In May, total realized losses on credit risk assets were reported at over $50 million. ‘Many troubled assets disposed of at losses this past month were not yet considered delinquent,’ said Director Stacey McGovern.
Stacey McGovern +1-212-908-0722, or Karen Trebach, +1-212-908-0215, New York.
Media Relations: Sandro Scenga, New York, Tel: +1 212-908-0278:, email@example.com
Additional information is available at http://www.fitchratings.com/
FORT LAUDERDALE, Fla. – Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale, Fla. and serving clients around the state, announced Joseph Jarkesy (lower left photo) has been hired as a Broker Associate and Brad Sheppard (top right photo) has been promoted from Senior Property Manager to Vice President of Berger Special Assets, a division of Berger Commercial Realty Corp.
Jarkesy has more than six years of real estate experience, most recently as a broker associate with the Fitzgerald Group. He will be handling tenant and landlord representation in the Fort Lauderdale area. Jarkesy graduated from Florida State University with a Bachelor's degree in real estate and finance and a certificate in planning studies.
His clients include institutions, private investors, receivers, REITs and limited partnerships.
Sheppard is a CPM candidate and a member of the International Council of Shopping Centers. He received his Bachelor's degree in real estate from East Tennessee State University. Sheppard holds his Florida Real Estate Salesman license.
Contact: Marielle Sologuren, Pierson Grant Public Relations, 6301 Northwest 5th Way Suite 2600
Fort Lauderdale, FL 33309, v. (954) 776-1999 ext. 226, f. (954) 776-0290, firstname.lastname@example.org, http://piersongrant.com/
Posted by Alex at 11:53 AM
The test-based certification is based on a candidate’s acceptance into the program, experience in the industry, and test scores.
“An ASHRAE certification benefits building owners, employers and individuals,” says ASHRAE President Gordon Holness. (bottom left photo) “ASHRAE certification helps professionals demonstrate that they have mastered a certain body of knowledge and can provide outstanding services in their area of expertise.”
With 23 years of experience in mechanical contracting management, he is a licensed mechanical and plumbing contractor in Florida, and is an NEBB Certified Supervisor for Air & Hydronic Testing & Balancing.
PR Contact: Elaine Ingra, PH 407 384-1344, email@example.com
NOVATO, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of Oak Grove Apartments,(top left photo) an 88-unit, 75,666-square foot luxury apartment complex in Novato.
The sales price of $16,055,000 represents $182,443 per unit and $212 per square foot.
“Oak Grove Apartments is the premier multifamily community in this submarket,” says Pennington. “The previous ownership had been in place for the past 10 years.”
Nestled into a hillside adjacent to a greenbelt, the property is located at 100-145 Cielo Lane in Novato, Marin County’s northernmost city.
The buildings are wood-frame construction with stucco and wood exteriors on slab foundations. The roofs are pitched-composition shingle and the property has ample parking for 204 cars.
The unit mix is comprised of 55 two-bedroom/two-bath apartments ranging from 893 to 1,089 square feet and 33 one-bedroom/one-bath units ranging from 636 to 870 square feet. The large individual units all have washers and dryers, one-car garages and either a patio or a balcony. Seven storage closets are available for tenants to rent.
Marin County is bordered to the north by Sonoma County and to the west by the Pacific Ocean.
Tina Stauffer of Portland office Promoted to Vice President
ENCINO, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Tina Stauffer (middle right photo) vice president, according to Richard H. Peltz, (middle left photo) senior vice president and chief information officer.
As director of applications, Stauffer leads the firm’s application development team. Stauffer is located in the firm’s Portland office.
Stauffer joined Marcus & Millichap in February 1999 as the operations manager for the Seattle office. In October 2000, she transferred to the Information Services department as a project manager in applications. Stauffer has been director of applications for the firm since 2007.
Chad O’Connor, (lower right photo) a senior director in the firm’s San Diego office, arranged the loan for the property.
“Bond financing has many long-term benefits and provides a hedge against inflation in today’s volatile market,” says O’Connor.
"However, bond financing is only available for larger single-tenant investment-grade-rated tenant buildings,” adds O’Connor.
The loan has a 5.35 percent interest rate, fixed for 18 years with an 18-year amortization.
“The property in this transaction possessed unique construction and build-out features,” continues O’Connor. “The facility was built in the side of a mountain inside retrofitted limestone mining caves.
"The caves provide superior climate control for archival record storage, which giving the records a longer lifespan. We were able to source a lender that had recently done a similar transaction for NARA in a location nearby.
"The lender was familiar with the tenant, their operations and the location, which made the closing process much easier,” adds O’Connor.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716