Thursday, October 13, 2011
XI'AN, China, Oct. 13, 2011 /PRNewswire-Asia-FirstCall/ -- China Housing & Land Development, Inc., ("China Housing" or the "Company," NASDAQ: CHLN) today announced that it has appointed Mr. Yusheng Lin (top right photo)as an Independent Director of the Company, effective October 13, 2011.
Mr. Lin replaces Mr. Michael Marks (middle left photo), who, for personal reasons, has resigned his position as an Independent Director of the Company's Board of Directors (the "Board"), effective immediately.
Mr. Yusheng Lin is the Deputy General Manager of SZ Kingworld ("SZK") and Executive Director of Kingworld Medicines Group Ltd. (stock code: 01110HK) ("KMG").
He has been the deputy general manager of SZK since June 2006. He is primarily responsible for the capital management and the operations of KMG. He has approximately 10 years of experience in the pharmaceutical industry.
From 1999 to 2004, he worked at Xi'an Lijun Pharmaceutical Company Limited ("XLPC"), which is principally engaged in the manufacture and sale of pharmaceutical products in the PRC.
XLPC is a wholly owned subsidiary of Lijun International Pharmaceutical (Holding) Company Limited (stock code: 2005HK) ("XLPC Parent"), a company listed on the Hong Kong Stock Exchange which, together with its subsidiaries, is engaged in the research, development, manufacture and sale of finished medicines and bulk pharmaceutical products to hospitals and distributors.
Mr. Lin held the position of vice president of XLPC Parent from 2004 to 2006. From 2005 to 2006, he also held the position of chairman of Lijun Fang Yuan Pharmaceutical Company. Mr. Lin obtained his Bachelor's Degree in Philosophy from Yanan University in 1989 and his MBA from Hong Kong Polytechnic University in 2006.
China Housing contacts
Mr. Cangsang Huang
Chief Financial Officer
+86 29 8258 2648 in Xi'an
Ms. Jing Lu
Chief Operating Officer, Board Secretary, and Investor Relations Officer
+86 29.8258.2639 in Xi'an
Mr. Shuai Luo
+86 29.8258.2632 in Xi'an
Mr. Bill Zima, ICR
+1 203.682.8233 in United States
Web Site: http://www.chldinc.com/
WILLOW GROVE, PA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for a 123,397-square foot Super Giant Food Store (top left photo) in Willow Grove, a northern suburb of Philadelphia. The sales price of $24,603,317 represents $199 per square foot.
Dean Zang (middle right photo) and Mark Taylor (lower left photo), senior directors of the firm’s National Retail Group (NRG), are representing the seller, an affiliated entity of a northern New Jersey private REIT and developer.
“There are 20 years remaining on this Super Giant Food Store’s absolute net lease,” says Zang. “Rarely do assets with such a high quality of location come to market in the Northeast with substantial term remaining. The lease is guaranteed by Royal Ahold and has rental increases that certainly add to the attractiveness of the offering,” adds Zang.
The property is located at 315 York Road in Willow Grove, an affluent suburb of Philadelphia.
This Super Giant Food Store was built in 2007 on 12.4 acres after the former Home Depot building was demolished. The store is open 24 hours per day and features a full-service pharmacy, a Wi-Fi cafe and children’s play area.
Giant Food Stores is a subsidiary of Royal Ahold, which operates approximately 1,000 supermarkets throughout the United States. In 2010, Royal Ahold posted revenues of $27.9 billion and a net worth of $5.5 billion. Ahold is rated BBB with a stable outlook by Standard & Poor’s.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
FT LAUDERDALE, FL, Oct. 13, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of a leasehold interest in a 14,560-square foot Walgreens in Columbia, South Carolina for $3.3 million and a 12,278-square foot Rite Aid (middle left photo) in Sumter, South Carolina for $2.7 million, according to Gregory Matus, Vice President/Regional Manager of the firm’s Ft. Lauderdale office.
Senior Vice President Investments Lori Schneider (top right photo) in Marcus & Millichap’s Fort Lauderdale office facilitated the sales of the drug stores.
“Drug stores provide a reliable income at a time with few alternatives and they are often desirable price point investments that offer simplicity of underwriting, acquisition and ownership,” says Schneider who facilitated the sale of five drug store properties (among other retail and single-tenant properties) within the third quarter of 2011.
Schneider just recently qualified for Marcus & Millichap’s prestigious National Achievement Award. She was the first investment specialist in the Fort Lauderdale office to receive this honor.
The Walgreens property consists of a leasehold interest in a 14,560-square foot Walgreens on a large 1.76-acre lot in Columbia, South Carolina. It has 18 years remaining on its absolute net lease and is located at 4469 Devine Street, which is one of the main commercial corridors in Columbia. The property sold for $3,292,406 on September 12, 2011.
The 12,728-square foot Rite Aid has a double drive-thru and is located on a 1.62 acre lot in Sumter, South Carolina. It has 11 years remaining on its double net lease and is located at 375 Pinewood Road near several shopping centers. Sumter is located approximately 45 miles from Columbia. The property sold for $2,650,000 on September 26, 2011.
Press Contact: Gregory Matus (bottom left photo), Regional Manager / Vice President, Ft. Lauderdale, (954) 245-3400
"Rarely does this type of opportunity present itself to purchase the dominant grocery anchor in a growth market like Orlando," said Thompson National Properties' CEO, Anthony W. "Tony" Thompson (middle right photo). "SRT succeeded against stiff competition and closed in under 30 days."
Constructed in 2008, Osceola Village is 77 percent occupied and anchored by Publix with a lease expiration in 2028 and hhgregg with a lease expiration in 2018. The property is located at the intersection of Osceola Parkway and Dyer Boulevard, approximately 6.5 miles from Walt Disney World, on a 23.7 acre site that includes seven fully improved outparcel pads that total 9.5 acres.
For more information regarding TNP Strategic Retail Trust, please visit http://www.tnpsrt.com/.
ATLANTA, GA -- Engler Financial Group is pleased to offer for sale Alexan Town Brookhaven (above centered photo), a "Best in Class" Core investment opportunity located in Atlanta’s newest and most desirable mixed-use community - Town Brookhaven.
This 287 unit Class "AA" asset is being offered for sale "free and clear" of existing financing, allowing buyers the opportunity to take advantage of historically low interest rates.
The high quality construction of the units at Alexan Town Brookhaven is similar to an upscale single-family home or condominium. All buildings are controlled-access entry with elevators and air-conditioned interior hallways.
Alexan Town Brookhaven is located within the larger Town Brookhaven mixed-use development (lower right photo by Jonathan Phillips of Atlanta) which offers a highly desirable mix of big box retailers, junior anchors, upscale grocery, as well as “Atlanta centric” restaurants and shopping boutiques.
Town Brookhaven was developed by The Sembler Company and consists of approximately 600,000 square feet of mixed-use commercial space. Construction was ongoing throughout much of Alexan Town Brookhaven’s initial lease up. Since completion of the surrounding retail, the Property has experienced tremendous rent growth (as much as 25%).
The Property is currently operating on a net effective pricing model, and signing leases 16% above the current in-place effective figures. Upon renewal, the Property is aggressively pushing residents towards current market rents with renewal increases as high as $300.
To schedule a property tour, please contact
(678) 992-2000, ext. 1
Senior Vice President
(678) 992-2000, ext. 2
(678) 992-2000, ext. 4
Charles Dunn Co. Names Commercial Real Estate Industry Veteran Tracy Taft as Business Development Account Executive
“Charles Dunn Company is aggressively working to increase its activity and overall client base as we continue to enhance our firm’s full service capabilities,” said Patrick Conn (lower left photo), president of property management at Charles Dunn Company. “Tracy has the hands-on commercial real estate knowledge and experience, as well as the business development skills that will help us meet our short term and long term corporate growth objectives.”
Taft offers a broad background in commercial real estate and most recently served as principal at TARECO Property Management out of Los Angeles. He was also director of real estate for Native Foods Café and carries a wealth of brokerage experience with senior sales executive positions at Colliers International, Lee & Associates and CB Commercial.
“With a property management portfolio in excess of 20 million square feet and a highly successful investment sales team, Charles Dunn Company offers a breadth of full service resources that many clients aren’t fully taking advantage of,” said Taft.
“I look forward to communicating the firm’s entrepreneurial approach as well as its legacy of treating our clients’ interests as if they were our own, with the goal of taking our service capabilities to the next level.”
Taft is a licensed California real estate broker and obtained a Bachelor of Science degree in Business Marketing from University of Southern California.
Contact: Darcie Giacchetto, D.G. Communications, Inc., 949.278.6224
The report shows one in every 213 U.S. housing units with a foreclosure filing during the quarter.
Foreclosure filings were reported on 214,855 U.S. properties in September, a 6 percent decrease from August and a 38 percent decrease from September 2010.
September marked the 12th straight month where foreclosure activity decreased on a year-over-year basis.
“U.S. foreclosure activity has been mired down since October of last year, when the robo-signing controversy sparked a flurry of investigations into lender foreclosure procedures and paperwork,” said James Saccacio (top right photo), chief executive officer of RealtyTrac.
“While foreclosure activity in September and the third quarter continued to register well below levels from a year ago, there is evidence that this temporary downward trend is about to change direction, with foreclosure activity slowly beginning to ramp back up.
“Third quarter foreclosure activity increased marginally from the previous quarter, breaking a trend of three consecutive quarterly decreases that started in the fourth quarter of 2010,” Saccacio continued.
“This marginal increase in overall foreclosure activity was fueled by a 14 percent jump in new default notices, indicating that lenders are cautiously throwing more wood into the foreclosure fireplace after spending months spent trying to clear the chimney of sloppily filed foreclosures.”
For a complete copy of the company’s news release and statistics, please contact:
949.502.8300, ext. 268
949.502.8300, ext. 139
Emerson International Reports Two New Office Lease Agreements at Major Plaza in Southwest Orlando
ALTAMONTE SPRINGS, FL. --- Emerson International reports it has closed on two new long term lease agreements at Major Plaza I, (middle right photo) located on Kirkman Rd. in Southwest Orlando.
Eric Emerson, vice president and general manager of Emerson International, said Commercial Portfolio Director Kenneth Koch negotiated both lease agreements.
Meyers & Eichelberger, P.L. leased 1,861 square feet.
Abreau Tour, Inc. leased 1,508 square feet.
For media information, contact:
Eric J. Emerson, Vice President and General Manager Emerson International, Inc. 407-834-9560; email@example.com;
Kenneth Koch, Commercial Portfolio Director, Emerson International, Inc., 407-834-9560 firstname.lastname@example.org
Beth Payan, Larry Vershel Communications 407-644-4142 Lvershelco@aol.com
Celebration Golf Management Promotes Susan Wilkinson and Andy McGrotha at Golden Bear Club In Windermere, FL
ORLANDO, Fl --- Celebration Golf Management, LLC, recently promoted two top staff members at Golden Bear Club in Windermere.
Carlos Puerto, general manager at the Golden Bear Club, said Susan Wilkinson (top right photo) has been promoted to Membership Director and Andy McGrotha (lower left photo) to Food and Beverage Manager.
Puerto said Wilkinson joined Golden Bear Club in June 2010 and formerly was a membership accountant. She has more than 20 years of experience in the golf and hospitality business throughout Europe and the Middle East.
For media information, contact:
Carlos Puerto, General Manager, The Golden Bear Club 407-876-5775 ext. 4671
Gene Garrote, President, Celebration Golf Management, 407-566-1045
Beth Payan, Larry Vershel Communications 407-644-4142 Lvershelco@aol.com
Latino Hotel Association Establishes Procurement Committee to Boost Number of Latino Businesses in Hospitality Industry
Fred Lona (top right photo), senior director of supply diversity and supply management, Hilton Worldwide, will chair the new group.
“The committee will develop a procurement platform to help Latino-owned companies work with the hospitality industry,” said Angela Gonzalez-Rowe (lower left photo), president and founder of LHA.
“Among other responsibilities, the committee will develop a survey for LHA-supplier members to use to classify their businesses based on local, regional, national and international reach and capabilities. Fred’s proven track record in supply diversity and management made him the ideal person to lead this important initiative.”
“Our committee will be responsible for developing educational forums, business resources and scheduling hospitality procurement events for LHA beginning in 2012,” said Lona. “LHA offers Latinos a great opportunity to get involved with the hotel industry throughout the world. I look forward to working with my fellow committee members to create more opportunities for Latino-owned businesses.”
Additional information is available at the association’s website, http://www.latinohotelassociation.com/.
Contact: Jerry Daly, Chris Daly, Daly Gray Public Relations, (703) 435-6293
FORT LAUDERDALE, FL – Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale, Fla., and serving clients around the state, announced new deals from brokers Judy Dolan (top right photo), Keith Graves (top left photo), St. George Guardabassi (lower right photo) and Greg Milopoulos.
For more information, visit http://www.bergercommercial.com/.
Contact: Marielle Sologuren, Pierson Grant Public Relations, (954) 776-1999, ext. 226, email@example.com
MIAMI, FL --A 119-unit rental complex in Greater Fort Lauderdale is scheduled to be auctioned off in November to repay a $23.2 million debt, according to a new report from CondoVultures.com.
TotalBank, a Miami-based institution with assets of $2.2 billion, obtained a “consent final judgment of foreclosure” for $19.8 million in principal plus $3.4 million in accrued interest against the owner of the King’s Row (top left photo) rental complex on Northwest 46th Avenue in the city of Lauderhill, according to Broward Circuit Court records.
The online auction for the 89,800-square-foot project located south of Oakland Park Boulevard between State Road 7 and Florida’s Turnpike is scheduled to start at 10 am on Nov. 8, according to Broward County Clerk of the Court records.
The King’s Row rental complex is one of four foreclosure cases with a final judgment amount of at least $14.8 million scheduled to be auctioned off in Broward County through Nov. 30, according to government records.
Developed in 1970, the King’s Row is comprised of a pair of two-story buildings with 63 units and 56 units located contiguously at 1620 and 1700 NW 46th Avenue, according to the Broward County Property Appraiser’s Office.
Peter Zalewski of Condo Vultures® can be reached at 800-750-0517 or by email at firstname.lastname@example.org.
NEW YORK, NY -- While special servicers made more tangible progress in stemming U.S. CMBS losses this past year, current economic uncertainty makes the outlook for next year more uncertain, according to Fitch Ratings in its latest annual U.S. CMBS loss study.
Nearly four times as many loans were resolved by special servicers in 2010, with 1,427. Additionally, the average loss severity declined to 53.4% compared to 57% in 2009. 'Special servicers have been increasingly successful selling properties and working with borrowers for discounted loan payoffs,' said Senior Director Britt Johnson.
However, current economic uncertainty makes it more difficult to predict 2012 numbers. 'If the current economic volatility continues, special servicers may struggle to find borrowers capable of obtaining capital for distressed real estate,' said Johnson.
Drilling down into specific property types, loss severities fell for all major property types except retail. However, Fitch expects the cumulative loss severity in 2011 to continue eclipsing historical averages, which increased to its highest level ever at 42.9% in 2010.
Losses on retail and multifamily loans will remain volatile. Elsewhere, office losses will trend north of historical averages in spite of recent improvements in some regional markets. 'With leases set to expire in a weaker economy, office landlords will have to continue lowering rents and paying for tenant improvements and rent concessions,' said Managing Director Mary MacNeill.
Though performance among hotel properties has improved notably in recent months, they still hold the second highest amount of defaults. 'There are still many delinquent hotel loans to resolve, though dispositions will slow next year if the lending environment tightens,' said MacNeill.
Fitch's 'U.S. CMBS Loss Study: 2010' is available at 'www.fitchratings.com' under 'Latest Research' or by clicking on the above link.
Fitch Inc., 70 W. Madison St., Chicago, IL 60602
Media Relations: Sandro Scenga +1-212-908-0278, New York; email@example.com
Additional information is available at http://www.fitchratings.com/