Friday, May 27, 2011

Stirling Sotheby’s International Realty Reports Strong Traffic at Johns Lake Point, Three Homes under Contract Already

ORLANDO, FL--- Barely one month after Stirling Sotheby’s International Realty was named exclusive sales and marketing agents at Johns Lake Point on Avalon Road in Winter Garden, three of nine ready-to-move-in homes are under contract.

“Home buyer visits to the sales center have been greater than we anticipated,” said Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty.

Jennifer Gonzalez and Luis Gonzalez are representing the Johns Lake Point developer Misty Ridge Ventures in sales of new homes at Johns Lake Point priced from the $160s to the mid $400s.

Altogether, 323 new homes are planned at Johns Lake Point in three distinct villages with 50-, 75- and 85-foot home sites. 

 Soderstrom said construction is planned to start this summer on a 4,000 square foot amenity center with fitness facilities, a junior Olympic-sized pool, tennis courts and children’s play area.

New three to six-bedroom homes at Johns Lake Point range in size from 1,600 square feet of living space to 3,800 square feet.

Some of the homes, according to Soderstrom, offer nature preserve and pond frontages.

For more information, contact

Jennifer Gonzalez, Sales Executive, The Gonzalez Team, Stirling Sotheby’s International Realty 407-333-1900, 321-377-3325 or
 Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890;
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

Emerson International Reports Sales of 13 New Homes in April at Eagle Creek Golf Community in South Orlando

ORLANDO, FL - Emerson International, the Altamonte Springs based developer of Eagle Creek Golf Club off Narcoossee Road near Medical City in southeast Orlando, reported it closed on sales of 13 new homes at Eagle Creek in April.

“That’s the most sales in a single month we have seen this year,” said Eric Emerson (bottom right photo), vice president and general manager of Emerson International.

Emerson said new homes at Eagle Creek range in price from the low $200s to more than $900,000.

Emerson added that April closings totaled more than $5 million.

Eagle Creek Golf Club features a championship 18-hole golf course, a New England Manor Clubhouse and distinct neighborhoods that offer golf, lake or forest views with luxury single-family homes, golf villas, and town homes.

Eagle Creek Golf Club is owned by Emerson International, a wholly owned subsidiary of The Emerson Group, the global corporation that is one of the largest privately-owned property development companies in the U.K. 

For more information, contact:
Eric J. Emerson, Vice President and General Manager Emerson International, Inc. 407-834-9560;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Jones Lang LaSalle Announces Merger With King Sturge

 LONDON, May 27, 2011/PRNewswire/ --Global commercial real estate firm Jones Lang LaSalle (NYSE: JLL) today announced it will merge with international property consultancy King Sturge.

The combined firm will be the clear leader in the UK and also in continental Europe, with greatly enhanced strength and depth of service capabilities across the region that will directly benefit the clients of both companies.

The transaction is expected to close on 31 May 2011. Under its terms, Jones Lang LaSalle will pay consideration of 197 million pounds Sterling
($319 million) to the partners of King Sturge, with 98 million pounds
Sterling in cash at closing and the balance paid out in cash over five years.

All 43 King Sturge offices and businesses across Europe, including 24 in
the UK, will become part of Jones Lang LaSalle and will operate under the
Jones Lang LaSalle brand. Integration of business lines and teams, and the
full rebranding of all business activities, will begin immediately.

Christian Ulbrich (top right photo), Jones Lang LaSalle Chief Executive Officer for EMEA said: "The obvious strategic and cultural fit between Jones Lang LaSalle and King Sturge makes this a logical and very attractive proposition for both firms. It gives us a scale and depth of expertise that will make our client service delivery capabilities second to none in both the UK and continental Europe."

Richard Batten, (lower left photo) Joint Senior Partner, King Sturge said: "This is a coming together of two great companies who are culturally aligned, with fantastic business synergies, to create the best firm of property advisers in Europe. We truly believe that we will be better together. The ability to operate on a global platform, and the opportunities that this will provide, is great news
for all our staff and clients."

For a complete copy of the company’s news release, please contact:

Madeleine Little, +44 (0)20 7852 4868, +44 (0)7809 596 921,;
Mark Roberts, +44 (0)20 7087 5120, +44 (0)7815 940 891,

Lynd Wins Bid to Purchase $80 Million Portfolio of Distressed Student Housing in Florida

 SAN ANTONIO, TX— (May 27, 2011) — Lynd, LLC, has purchased an $80 million portfolio of distressed student housing in Tallahassee, Florida from LNR Property LLC, a diversified real estate investment, financing and management company based in South Florida.

The portfolio is comprised of seven distressed notes and two bank owned properties. LNR chose Lynd’s bid over several other real estate investors who made offers. The company closed on the property just eight days after going to contract. The purchase price was not disclosed.

 “I think LNR recognized that we are an attractive buyer,” said A. David Lynd (top right photo), Lynd’s chief operating officer. “Our 30 year track record as a successful owner- operator and our ability to write a check on the spot gives us a big edge against competing investors.  We are flush with plenty of equity and actively seeking to talk with anyone looking to divest of their troubled assets.”

 Over the past two months, Lynd has acquired $161 million in distressed assets including a major bulk purchase of $62 million worth of notes on 14 commercial properties back in February.

The Tallahassee portfolio includes nine student apartment buildings totaling 1.756 million square feet, 1,785 units and 4, 255 beds. Two thirds of product was built between 1999 and 2004.  All of the buildings are located very close to the Florida State University campus as well as several other colleges in the area. Tallahassee is home to nearly 65,000 college students.

 Lynd has already begun tenant improvements on the two REO properties it has taken title to. It will take title on the remaining properties as each is disposed of in the court system. The company is actively seeking a regional manager to manage the portfolio.  

 The properties were listed and marketed by Holliday Fenoglio Fowler’s New York office. Joe Morningstar (bottom right photo) was the listing broker.

 With this purchase, Lynd has increased its national multi-family unit count to 36,000. It now manages 2,000 units in three Florida markets including Miami, Tampa and Tallahassee.

 For more information log on to
Media Contact: Todd Templin, Boardroom Communications
954-370-8999 or 954-290-0810,
Lynd Contact: A. David Lynd, President, 210-364-3964

McClatchy Announces Sale of Miami Real Estate

SACRAMENTO, CA, May 27, 2011 /PRNewswire/ -- The McClatchy Company (NYSE: MNI) announced today that it has sold 14.0 acres of Miami land, including the building housing its subsidiary, The Miami Herald Media Company and an adjacent parking lot, for a purchase price of $236 million to Bayfront 2011 Property LLC, a subsidiary of Genting Malaysia Berhad (Genting). The transaction closed today.

The Miami Herald Media Company is the publisher of The Miami Herald, El Nuevo Herald, related websites and other media businesses.Genting and its affiliates are leading developers and operators of destination resorts around the world, including the United States, Malaysia, Manila, Singapore and the United Kingdom.

The Miami Herald Media Company will continue to operate from its existing location for up to two years rent free while McClatchy pursues other sites for its media operations. Approximately 9.4 acres of the land was previously under contract to be sold, but that agreement expired in January 2011.

Gary Pruitt, (middle right photo) McClatchy's chairman and chief executive, said, "We are pleased to complete this transaction. The Genting team has been great to work with and has been true to its word throughout our negotiations.

"This property, located on Biscayne Bay, has been home to The Miami Herald for many years. While locating newspaper operations on the bay may have made sense in the past, it no longer is the best fit.

"Importantly, the sale of this real estate has no impact on the mission of The Miami Herald and El Nuevo Herald," Pruitt said.

"The Miami Herald is the premier provider of news and information in South Florida, winning 20 Pulitzer Prizes and numerous other awards over a long and distinguished history of community service.

 El Nuevo Herald is among the finest Spanish language newspapers in the United States and is dedicated to serving the Hispanic community in South Florida and surrounding areas.

For a complete copy of the company’s news release, please contact:
Elaine Lintecum, Investor Relations, 916-321-1846,

COLUMBUS, OH – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Adam Schlosser (top right photo) as sales manager of the Columbus office, according to Michael L. Glass (lower left photo), regional manager of the office.

 “Adam has extensive experience in commercial real estate as an investment specialist,” says Glass. “He will be an asset to our brokerage team, and instrumental in expanding our national market-making capabilities to clients throughout the Midwest.”

Schlosser began his career with Marcus & Millichap in October 2005 as a sales intern. He became an agent in November 2006, was promoted to associate in 2008 and to senior associate in 2009.

Prior to joining Marcus & Millichap, Schlosser was on active duty in the Army National Guard. He graduated from Ohio State University with a bachelor’s degree in consumer affairs.

 Contact: Stacey Corso, Public Relations Manager, (925) 953-1716