Monday, February 18, 2013

Realty Masters Hires Rachelle Ginsberg as Vice President of Business Development

Rachelle Ginsberg
FORT LAUDERDALE, FL -- Realty Masters, a boutique Florida real estate brokerage firm, is pleased to announce that Rachelle Ginsberg has joined the firm as Vice President of Business Development.  In her new role, Ginsberg will be responsible for cultivating business relationships throughout the state of Florida.

Prior to Realty Masters, Ginsberg worked for The Carlton Group, a New York-based real estate investment banking firm. She has extensive experience in both Florida and New York real estate transactions and was named one of the prestigious “30 under 30” by the National Association of Realtors, as well as received its Editorial Excellence Award. She is a competitive runner and triathlete.

Don Ginsburg
“Rachelle is perfectly suited for this role which combines her excellent networking abilities with her real estate acumen to help Realty Masters continue its extraordinary growth as Florida’s fastest growing brokerage firm,” said Don Ginsburg, president and CEO of Realty Masters.

Ginsberg received her undergraduate degree from Creighton University and her graduate degree from Florida Atlantic University and University of Miami.

Realty Masters is a boutique real estate brokerage firm operating throughout Florida.  The firm represents buyers and sellers in multiple asset classes and has sold & closed over $250,000,000 in the past three years.

For more information, please visit

Media contact:

Jessica Shein
Boardroom Communications
Office: 954-370-8999
Cell: 954-817-9389

First Alamo Drafthouse Location In Michigan Slated For Kalamazoo

Tim League, Alamo Drafthouse Cinema
AUSTIN, TX /PRNewswire/ -- Alamo Drafthouse Cinema is pleased to unveil its plans for its first location in Kalamazoo, Michigan.  The ten-screen theater will be owned by EPR Properties and operated by Alamo Drafthouse and located at 180 Portage Street, former home of the Rave Cityplace 14.

"Kalamazoo reminds me a lot of our hometown of Austin with its strong economy, large university, great beer scene and solid arts community.  We are very excited about this opportunity and to become a part of the neighborhood," says Alamo CEO Tim League.
For a complete copy of the company’s news release, please contact:

Brandy Fons,

19th New Condo Tower Proposed For Greater Downtown Miami Since Crash

Carlos Rosso
MIAMI, FL -- A 19th new condo tower is being proposed for Greater Downtown Miami at a time when South Florida real estate shows signs of improving from a crash that began in 2007, according to a new report from

For this latest project, developer Jorge Perez of the Related Group is proposing to build a mixed-use project - yet to be publicly named - with 450 condo units and 132 hotel rooms on the site of the previously announced but ultimately stalled Infinity II At Brickell project at 1300 S. Miami Avenue, according to a report by the Miami Daily Business Review. 

Jorge Perez
With this newest proposed project, the Related Group is proceeding with plans for at least four new towers - 1100 Millecento, 1300 S. Miami Ave. site, ICON Bay, and MyBrickell - with a combined 1,325 condo units in the Greater Downtown Miami area, according to the Preconstruction Condo Projects Database™ compiled using public records by the licensed Florida brokerage CVR Realty™.

In South Florida, the Related Group is proposing at least 11 condo towers - with three towers already under construction - with more than 2,150 units in projects such as One Ocean and TRG-Alaska III site in South Beach market, the Apogee Beach and Beachwalk in the Hollywood / Hallandale Beach market, and the ICON Palm Beach north of Downtown West Palm Beach.

Peter Zalewski
"Several developers are proceeding aggressively to tap into the reportedly strong buyer demand for preconstruction condos in South Florida at a time when unsold unit inventory from the tricounty region's last boom-and-bust cycle is currently on pace to sell out as early as 2014," said Peter Zalewski, a principal with the Greater Downtown Miami-based real estate consultancy Condo Vultures® LLC. 

"Fortunately, attendees of the upcoming Condo Vultures® 5th Annual State Of the South Florida Condo Market Seminar will have an opportunity to hear more about the developer strategy with pre-construction from Carlos Rosso, president of the Related Group's condominium development division, who is scheduled to speak at the Downtown Miami event."

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

Condo Vultures® LLC
225 Midtown Building
 Suite 209B
225 NE 34th St
Downtown Miami, Florida, 33137.

Morrison Commercial Real Estate Completes Seven Lease Transactions Totaling 20,134+ SF in Orlando, FL

Lisa Bailey
 ORLANDO, FL --  Morrison Commercial Real Estate announced the completion of seven lease transactions totaling 22,279± square feet.

Lisa Bailey and Phil Marchese of Morrison Commercial Real Estate represented the Landlord in leasing 22,279± square feet, with suites ranging in size from 2,000± to 7,000± square feet. The seven deals were executed during the third and fourth quarters of 2012 at Lake Point Business Park, located at 6200-6360 Hazeltine National Drive in Orlando, FL.


Sarah Holodick
Phone: 407.219.3500

Donna Abood Named to Hall of Fame at Florida State University’s College of Business

Donna Abood

 MIAMI, FL  - Donna Abood, a graduate of Florida State University's College of Business, has been named to the business college's Hall of Fame.

Since 2003, the FSU College of Business has honored alumni who have excelled in their careers and made significant contributions.

Abood is Chairman - Founding Partner of Colliers International South Florida, a leading global firm providing commercial real estate services. In her 28-year career, Abood has represented over 50 million square feet of office buildings on behalf of owners and she has completed hundreds of transactions on behalf of tenants she has represented.

Florida State University, Tallahassee, FL
For a complete copy of the company’s news release, please contact:

Crystal Proenza
Vice President of Marketing
Colliers International South Florida
Commercial Real Estate Services
Tel: 305 476 7138

Read My Lips: CRE Transaction Volume Not Likely to Be Harmed by New Taxes

Michael Bull in Radio Studio
ATLANTA, GA (Feb. 18, 2013) – Depending on their circumstances, investors in commercial real estate could face noticeably higher tax burdens in 2013 and the years ahead. However, having to fork over more money to Uncle Sam isn’t likely to have a sizeable impact on transaction activity in the sector.

Those were some of the points made by a panel of accounting and real estate experts in the most recent episode of the “Commercial Real Estate Show” radio program, hosted by Michael Bull of Bull Realty.

Mitch Roschelle
The episode provided an enlightening look at the many recent federal tax changes, such as increased income and capital-gains rates, and provided detailed analysis of their potential effects on the commercial real estate sector.

“Taxes aren’t what’s been motivating commercial real estate investors that have gotten back in the asset class in the post-recessionary period,” said Mitch Roschelle, a partner at PricewaterhouseCoopers and the leader of the firm’s U.S. Real Estate Advisory Group. “They like commercial real estate because of its durability of income over time.”

Thomas Nice
 “They like it because of its resilience in an unstable economic environment, and I don’t think they’re going to run away from it because the tax on those earnings is higher,” Roschelle added. “Any income-producing asset is going to have the same adverse tax consequences, and real estate is less volatile than perhaps stocks and bonds can be over time.”

The recent federal changes include the rise of the top marginal income tax rate to 39.6 percent from 35 percent, an increase in the capital-gains rate from 15 percent to 20 percent for top earners, and a new 3.8 percent tax on some investment income for individuals with adjusted gross incomes above $200,000 and couples making more than $250,000.

Timothy Trifilo
According to Thomas Nice, a partner with CohnReznick, the heavier tax burdens are likely to give rise to an increase in 1031 exchanges, which under certain circumstances permit an owner to defer the tax associated with a property sale if the owner then acquires a similar, or "like-kind," property within 180 days.

“You may want to think and think real hard about doing a deferred exchange,” Nice said.

 Higher taxes also could affect the pricing of transactions to some degree, added Timothy Trifilo, a tax partner with PricewaterhouseCoopers. “It’s hard to say how [the changes] will affect the volume of transactions,” he said. “What I think it may have a more direct impact on in the short run would be pricing. Someone might be asking for more now than they might have otherwise to cover the [tax increases].”

One benefit contained in the recent flurry of tax changes is the extension through 2013 of the 15-year straight-line cost recovery of qualified leasehold improvements, Trifilo added. Typically, those costs are depreciated on a straight-line method over 39 years. The extension might make someone more likely to rehab a building, Trifilo noted.

“From the investment sales perspective, there’s still a lot of interest in the asset class, and I think transaction volumes in 2013 will be up from where they were in 2012,” Roschelle concluded.

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

Stephen Ursery
The Wilbert Group
Office: (404) 965-5026
Cell: (404) 405-2354

Lincoln Property Company Southeast Brokers 50,000 SF of Office Leases in North Fulton, GA

Hunter Henritze
 ATLANTA, GA (Feb. 18, 2013) – Lincoln Property Company Southeast has brokered more than 50,000 square feet of new leases, renewals and expansions in metro Atlanta’s North Fulton market in the last 45 days.

 Hunter Henritze and Michael Howell, both vice presidents of office leasing for Lincoln Property Company Southeast, represented the landlord, Equity Office, in the transactions.

 The transactions are as follows:

Michael Howell
• HQ Global signed a renewal for 19,251 square feet at One Northwinds in Alpharetta. Ryan Hudson of CBRE represented the tenant.

• Pexco signed a renewal and expansion totaling 10,585 square feet at Three Northwinds in Alpharetta.

• NuRock Development signed a new lease for 6,935 square feet at 800 North Point Parkway in Alpharetta. Stephen Pond of NAI Brannan Goddard represented the tenant.

Tony Bartlett
• Trimble Navigation signed a renewal for 4,988 square feet at Three Northwinds. BillBaldwin and Tom Tindall of Cresa Partners represented the tenant.

• Omni Source Corp. signed a renewal and expansion totaling 2,706 square feet at Preston Ridge IV in Alpharetta. John Thornton of CBRE represented the tenant.

One Northwinds, Alpharetta, GA
• Sumitomo Life Insurance Agency signed a renewal for 2,670 square feet at Three Northwinds. Day Lancaster of NAI Brannan Goddard represented the tenant.

• Nova Energy signed a new lease for 1,671 square feet at Three Northwinds. John Organ of REMAX represented the tenant.

• DodgeCommunications signed a 1,425-square-foot expansion at 600 Northwinds in Alpharetta.

• Anchor Home Mortgage signed a 1,557-square-foot expansion at Preston Ridge IV.
Three Northwinds, Alpharetta, GA
 The Alpharetta office buildings are part of a 1.9-million-square-foot portfolio of Class-A North Fulton buildings that Lincoln is leasing on behalf of Equity Office.

 “These recent transactions represent the latest evidence of the outstanding job our team is doing leasing and managing thisportfolio,” said Tony Bartlett, senior vice president of Lincoln Property Company Southeast.

“As a result of our collective efforts, this portfolio is significantly outperforming the rest of the North Fulton office market. With more than 400,000 square feet of leasing activity in 2012, this most recent activity has generated outstanding momentum for 2013.”

600 Northwinds, Alpharetta, GA
For example, the portfolio currently has a vacancy rate of only 12 percent, compared with 21.2 percent for the Class-A office market in North Fulton as a whole.

The portfolio experienced approximately 136,000 square feet of positive net absorption in 2012, while the Class-A North Fulton market overall had net absorption of negative 230,378 square feet.  In addition, average rental rates have increased nearly 4 percent in the last 12 months. 

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

Stephen Ursery
The Wilbert Group
Office: (404) 965-5026
Cell: (404) 405-2354

Bull Realty Arranges $2.7 Million Sale of Red Tail Mountain Golf Club and Residential Development in Tennessee

Red Tail Mountain Golf Club,
Northeastern Tennessee
 ATLANTA, GA – Bull Realty has brokered the $2.7 million sale of the Red Tail Mountain Golf Club and Community, a foreclosed 617-acre property in unincorporated Johnson County in northeastern Tennessee.

Rob Whitmire, a Bull Realty partner and senior vice president with the firm’s Special Asset Services division, represented the lender/seller, Red Tail Development LLC, in the transaction.

Rob Whitmire
Bull Realty was engaged to market the property for the lender and secured a Canadian buyer. The purchaser, Red Tail Mountain Properties, is an entity controlled by a private equity investor in Canada.

 The property includes an operating 175-acre, 18-hole championship golf course, 120 developed residential lots and approximately 300 acres reserved for future development.

The site also features an 18,000-square-foot, full-service golf clubhouse that includes a pro shop, offices, dining and banquet areas, a fitness center and cart storage.

Michael Bull
Located in the Blue Ridge Mountains near the North Carolina border, Red Tail is a two- to three-hour drive from several sizeable cities, including Asheville, N.C.; Charlotte, N.C.; Knoxville, Tenn.; and Winston Salem, N.C.

 “As both the housing market and commercial real estate sector are seeing improved market conditions, banks and other lenders are in a much better position to offload bad debt and OREO properties,” said Michael Bull, Bull Realty president and host of the “Commercial Real Estate Show” radio program. “Lenders properly marketing properties are seeing improved recoveries for land and commercial properties.”

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

M.C. Rhodes
The Wilbert Group

Attorney Jill Prussack Joins Hartman Simons Commercial Real Estate Firm in Atlanta, GA

Jill D. Prussack
 ATLANTA, GA– Veteran litigator Jill D. Prussack has joined the Hartman Simons & Wood LLP law firm as a partner. Prussack, who was previously a partner at Schulten Ward & Turner in Atlanta, will be part of Hartman Simons’ litigation practice area.

Prussack’s practice will involve a wide variety of business and real-estate litigation issues, such as foreclosure confirmations, construction liens, breach of fiduciary duty, fraud, intellectual property disputes, trade-secret violations and general contract disputes.

 A 1994 graduate of the University of Georgia School of Law and 1989 graduate of Boston University’s School of Management, Prussack was named as one of Georgia Trend’s Legal Elite in 2012. She also is an active volunteer with Make-A-Wish Georgia.

Summey Orr
“We are extremely excited about the addition of Jill to Hartman Simons,” said Summey Orr, managing partner of the firm. “Her considerable litigation experience and know-how will add greatly to the vast legal expertise we can offer clients. I am confident she will be a great fit and an extremely valuable addition to our firm.”


Stephen Ursery
The Wilbert Group