Tuesday, May 21, 2013

NAI Realvest negotiates long term lease for new Caribbean Restaurant on West Oakridge Road in Orlando, FL

Mez Birdie
ORLANDO, Fla. – NAI Realvest recently negotiated a new long-term lease of 1,900 square foot retail building located at 2215 West Oak Ridge Rd. in Orlando

Juan Jiminez
 Juan Jimenez, associate and Mez Birdie, CCIM, director of retail and investment services for NAI Realvest, negotiated the lease representing the local landlord Shreeji Bawa of Oakridge, LLC.

The new tenant, Dieurilus Piere Fils of Kissimmee, has opened a Caribbean restaurant

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

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

Forman Capital LLC to Triple its Commercial Real Estate Loan Volume This Year to $60 million

Brett D. Forman
PALM BEACH, FL – Forman Capital, LLC in Palm Beach reported it loaned almost $20 million last year to finance real estate acquisition and development projects and the private lender expects to triple that figure this year.

 Founded by entrepreneur Brett D. Forman in 2004, Forman Capital LLC targets middle market borrowers with an entrepreneurial platform that combines real estate underwriting and analysis of traditional credit metrics with creativity and speed.

 Forman Capital lends money for situational and bridge loans as well as  subordinate debt financing, preferred equity and note acquisitions in the $2.5 million to $15 million range.    

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

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

Winston-James Development negotiates lease for financial consulting firm at Aloma Business Center in Winter Park, FL

Aloma Business Center, Winter Park, FL

WINTER PARK, Fla. – Winston-James Development, based in South Daytona, recently negotiated a lease agreement for 938 square feet of office space at its Aloma Business Center on Aloma Avenue in Winter Park. 

Winston Schwartz, president of Winston-James Development said OSS Office Support Services, a certified “Quick Book” financial consulting firm leased the office space.

Winston Schwartz
The company is relocating from Winter Springs, Schwartz said.


Winston Schwartz, President, Winston-James Development, Inc. 933 Beville Rd., South Daytona, Fla. 32119; 386-760-2555;  
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com   

Annaly Capital Management, Inc. Appoints Glenn Votek as Chief Administrative Officer

Glenn Votek
NEW YORK, NY (BUSINESS WIRE)-- Annaly Capital Management, Inc. (NYSE: NLY) today announced that Glenn Votek has been appointed its Chief Administrative Officer.

Mr. Votek brings over 20 years of financial and operational experience to Annaly with particular expertise in risk management, capital raising, liability management and regulatory oversight. Mr. Votek will report directly to Kevin Keyes, Annaly’s President.

Mr. Votek joins Annaly from CIT Group where he was an Executive Vice President and Treasurer since 1999 and President of Consumer Finance since 2012.

At CIT, Mr. Votek was responsible for all functional areas of CIT’s treasury group, including capital markets, securitization, asset/liability management, hedging, international treasury, cash management, and banking and rating agency relations.

He was also actively involved in the investor marketing activities at CIT. Included among his committee memberships were: Asset Liability Management Committee, Financial Disclosure Committee, Pension Investments Committee and the Employee Benefit Plans Committee. He also previously served as Chairman of the Board of CIT Bank.

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

Annaly Capital Management, Inc.
Investor Relations

Newport Waterfront Condominiums in Daytona Beach, FL Sells for $2.145 Million

                          Newport Waterfront Condominiums, Daytona Beach, FL

DAYTONA BEACH, FL, May 21, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Newport Waterfront Condominiums, a 39-unit condominium community located in Daytona Beach, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset commanded a sales price of $2,145,000 or $55,000 per unit.

Michael Donaldson, a senior multifamily associate in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the south Florida-based sellers.  Donaldson also procured and represented the buyer, a limited liability company also based out of south Florida.

Newport Waterfront Condominiums was built in 1972 and is located at 900 South Peninsula Drive.  Built as an apartment community, the property was converted to condominiums in January of 2007 and consists of two buildings.

  One building has 30 two-bedroom/one-bath units and the other building has nine, two-bedroom/two bath units, all facing the Halifax River.

Daytona Beach, FL skyline
“The Newport Condominiums generated a large amount of interest from the investment community, mainly due to the property having frontage to the Halifax River Intracoastal Waterway,” Donaldson said in a statement.

“We received over 10 offers and eventually closed with a cash buyer for 12 percent above list price, at $55,000 per unit, one of the highest prices for a pre-1980s-built multifamily complex in Volusia County.”

 “With improving market conditions throughout central Florida, we will continue to see similar trades that break pricing thresholds that have not been attained since the height of the market,” concludes Donaldson.

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

Richard D. Matricaria
Regional Manager
Tampa, FL
(813) 387-4700

The 200-Room Westin Jekyll Island Breaks Ground on Jekyll Island, GA

Breaking ground for the new Westin Jekyll Island are developer, Dave Curtis, managing partner Jekyll Ocean Front Hotel, LLC, Bruce Jones, senior vice president PNC Bank, and Gerry Chase, president and COO, New Castle Hotels and Resorts, which will operate the hotel when it opens in September 2014. The $41 million, 200-room hotel will anchor the new Jekyll Island Convention Center that opened in May 2012.

Jekyll Island Beach Village project rendering
Jekyll Island, Ga., May 21, 2013—Jekyll Oceanfront Hotel, LLC (JOFH), a joint venture comprised of Leon N. Weiner & Associates, Inc. (“LNWA”), a nationally recognized real estate development company, and New Castle Hotels & Resorts (“NCHR”), an award winning,  independent third-party hotel manager, owner and developer and other investors, today broke ground on the $41 million Westin Jekyll Island, a 200-room, convention-class, beachfront hotel that will open in September 2014 as  part of the Jekyll Island Beach Village project. 

The ceremonies were held at the construction site, 110 Ocean Way, adjacent to the new Jekyll Island Convention Center.           

Westin Jekyll Island hotel rendering
“The Westin Jekyll Island is pivotal to the entire Beach Village development,” said Dave Curtis, managing partner of Jekyll Oceanfront Hotel, LLC. 

“It’s the perfect complement to the wonderful new convention center and the island’s relaxed and gracious ambiance. We are extremely proud to help write yet another new and exciting chapter in Jekyll Island’s rich and fabled history.”

The Beach Village project, developed by the Jekyll Island Authority, (JIA) is part of a plan to reinvigorate the island’s tourism economy and includes the only beachfront convention center in the southeast. 

  The 128,000 square foot Jekyll Island Convention Center opened in May 2012 and is the centerpiece of the project which also includes an oceanfront promenade, village green, restaurants, retail shopping and Great Dunes Park.

Upon completion in September 2014, the hotel will be operated by New Castle Hotels and Resorts.

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

Lauralee Dobbins
Daly Gray, Inc.

New Ownership Announces Leases at Wells Fargo Center in Downtown Tampa, FL

                            Wells Fargo Center, Downtown Tampa, FL

TAMPA, FL – Feldman Equities, Inc. and Tower Realty Partners have recently completed four leasing transactions at Wells Fargo Center located in downtown Tampa.  The joint venture purchased the Class A office building in January.
Larry Feldman

 Larry Feldman, CEO of Feldman Equities spearheads leasing efforts while Tower Realty Partners handles management responsibilities. 

“We’re excited about the early leasing momentum at Wells Fargo Center.  Following our renovations, we believe that Wells Fargo Center will be a contender for one of the top office buildings in downtown Tampa.  

The quality of our building and our aggressive pricing makes Wells Fargo Center an extremely strong competitor in the downtown Tampa office market,” stated Feldman.

Brian Wyatt
 Jackson Lewis LLP, one of the country’s largest and fastest-growing workplace law firms, moves new office to downtown Tampa. Jackson Lewis is a national law firm with 750 attorneys.

Jackson Lewis LLP leased 6,277 square feet at Wells Fargo Center.  The firm, who opened their first Tampa office earlier this year in temporary office space in the Westshore Business District, is relocating to permanent offices in downtown Tampa at Wells Fargo Center. Co-brokers Brian Wyatt and Ryan Reynolds of Cassidy Turley represented Jackson Lewis in the transaction.

Ryan Reynolds
First Florida Insurance Brokers relocating from Channelside

First Florida Insurance Brokers [FFIB], Tampa, a subsidiary of The Ballator Insurance Group, a privately held company headquartered in Lake Mary Florida, has signed a lease for 3,100 square feet. Represented by David Culligan and Jon Slater of Studley Inc. the firm is relocating from offices in Channelside.

 Two other firms signed renewals and/or expansions at the building
 USAA Realty signed a renewal and expansion for 1,776 square feet while Gator Capital signed a 1,000 square foot renewal.
For a complete copy of the company’s news release, please contact:

Feldman Equities
 Larry Feldman

Wells Fargo Center
100 South Ashley Drive, Tampa, FL 33602

Colliers International South Florida Assists Sirote with Expansion to Fort Lauderdale, FL

Donna Abood
MIAMI, FL - Assisted by a team from Colliers International South Florida, law firm Sirote & Permutt, P.C. has leased 5,015 square feet at 200 Broward Boulevard in Fort Lauderdale.

Randy Olen
The value of the lease is approximately $768,549. Representing the tenant were Colliers brokers Donna Abood, Randy Olen, Joe Abood, and Matthew Anderson. Sandra Anderson of Jones Lang LaSalle represented the building's owner, W USA City, P.C.

Joe Abood
"The law firm was expanding its presence to Fort Lauderdale and needed to be downtown, close to the courthouse," said Randy Olen, Executive Vice President at Colliers International.
Matthew Anderson
Sirote & Permutt, founded in 1940, represents clients throughout the United States from its five offices in Birmingham, Huntsville and Mobile, Alabama and Fort Lauderdale and Pensacola, Florida.

The firm handles corporate transactions, business and financial services, estate planning and litigation on behalf of Fortune 500 companies, family-owned businesses and high net worth individuals.

Sandra Anderson

 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

Freddie Mac Approves Greystone as Designated Seniors Housing Seller/Servicer

Joseph H. Mosley
New York, NY, May 21, 2013 – Greystone, a leading national provider of multifamily and healthcare mortgage loans, today announced that it has been approved as a National Senior Housing Seller/Servicer by Freddie Mac to originate and service multifamily seniors housing loans nationwide. 
“Being a distinguished Freddie Mac lender is a testament to the great support and services Greystone provides borrowers in the senior housing market,” said Joe Mosley, Executive Managing Director of Fannie Mae and Freddie Mac lending.

 “Our experience working with FHA, Fannie Mae and Freddie Mac, and our expertise in the multifamily and healthcare lending business allow us to provide our clients across the United States with innovative solutions that fit their individual needs.”

Scott Kavel
“Freddie Mac's capabilities and specialized team of Seniors Housing experts have already added value to one of our long term clients and we are excited to bring Freddie Mac to all our clients going forward,” said Scott Kavel, Managing Director for Greystone’s senior housing lending business.

 For more information on Greystone’s healthcare mortgage solutions please visit http://www.greyco.com/Solutions/solutions_healthcare_mortgage_lending.html

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

Loretta Mock/Josh Gerth
+1 646 395 6300

There’s an App for That: “Commercial Real Estate Show” Surveys Latest Online Technologies Helping the Sector

Kelly Steltz
ATLANTA, GA – Commercial real estate may have a reputation as an industry that is often behind the technological curve, but that reputation increasingly is at odds with reality.

As shown on the most recent episode of the “Commercial Real Estate Show” radio program, individuals and firms are making use of mobile apps and online technologies to increase efficiencies and profits.

 Host Michael Bull and his guests discussed a number of technologies that are making an impact on the commercial real estate sector.

Michael Bull
Ten Eight is a mobile app and website that allows prospective tenants to rate buildings on a number of criteria as they’re touring the properties. 

As Patrick Braswell, CEO of Ten Eight, explained, prospective tenants often tour so many properties in one day that trying to recall the pros and cons of each site after the visits are over can be a real challenge.

 With the Ten Eight app, the tenants have hard data detailing their impressions and opinions of the properties. The technology is available for office, industrial and retail properties.

Patrick Braswell
 “Now the tenant can make a confident decision [about which spaces to actively pursue] because there’s true data and scores based on the subjective feelings they had while walking through,” Braswell said.

Isaac Herrera, CEO of Flyer.io, detailed his firm’s technology, which allows users to create interactive flyers of properties featuring panoramic photos and other data. 

Users can create the flyers on their mobile devices or computers, and can then share the flyers through a variety of social media outlets. A user also can create a QR code and place that code outside a property for people to scan and gain access to its interactive flyer.

Isaac Herrera

One of the main benefits of the technology is the analytics it provides, Herrera said. Users can “understand how many people are sharing, liking and commenting on the property,” Herrera said. “They can understand the engagement of the property with the public.”

 Floored is an app and online service that creates highly detailed, interactive, three-dimensional models of commercial space. The technology can show a prospective tenant an available space as it’s currently configured and also allows viewers to adjust the model to get a sense of what changes to the space might truly look like, said Dave Eisenberg, CEO of Floored.

 “You get a terrific experience for the [potential] tenant because they can quickly reduce any questions about what it would look like if they took the space,” Eisenberg said.

Dave Eisenberg
 Kelly Steitz, vice president of marketing for LoopNet,detailed the online property-listing service’s mobile app.

 The app allows a user to view available properties that are near the user’s current location. “It’s really simple but incredibly powerful at the same time,” Steitz said. “You can be a broker who’s out to dinner, see a listing across the street, and pop open your app and get the details on it.”

 The entire episode on commercial real estate apps is available for download at www.CREshow.com.

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

Stephen Ursery
The Wilbert Group

Commercial real estate law firm Hartman Simons says “blistering” investment sales set to grow stronger

Avalon, $600 million mixed-use project rendering, Alpharetta, GA

LAS VEGAS (May 20, 2013) – With many major chains opening new stores and investors showing strong interest in retail properties, the retail real estate sector is set to continue its recovery in the second half of 2013.

Bob Simmons
That’s the take of Hartman Simons, an Atlanta-based national commercial real estate law firm that represents tenants and landlords in retail leases as well as investors in retail properties.

 The firm provided its analysis as the 2013 ICSC RECon convention got underway in Las Vegas. The retail real estate convention runs from May 19 through May 22.

Retail investment sales “have been blistering,” said Bob Simons, a partner with the firm. “Leasing has been picking up too. Our work in those areas is up significantly over last year and dramatically from 2009 and 2010.”

“We are very optimistic about the rest of this year,” Simons added. “I think investment sales could become even more competitive.”

REITs and institutional investors are in hot pursuit of core assets, such as grocery-anchored shopping centers, in major urban markets, and the capitalization rates for the sales of those properties have compressed to 2007 levels, Simons said. 

Meanwhile, individual and pension-fund investors, in search of higher yields than the miniscule returns offered by Treasury bonds, have been gobbling up single-tenant, net-lease retail properties, such as drug stores and banks, across the country, he said.

The sector is experiencing the expansion of several major retailers, Simons said. Sporting-good chains and specialty grocers are among those expanding aggressively, Simons said.

Unfortunately, financing can still be difficult to obtain for smaller retailers. “Mom-and-pop tenants and local retailers are still struggling for access to capital,” Simons said.

Among its high-profile projects, Hartman Simons is involved in the development of Avalon, a $600 million, mixed-use project in suburban Atlanta.

For more information, visit www.hartmansimons.com or call 770-955-3555.

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

Stephen Ursery
The Wilbert Group

Lincoln Property Company Southeast Brokers Nearly 70,000 Square Feet of Office Leases in Suburban Atlanta

                         900 Northpoint, North Fulton office submarket, Atlanta, GA

ATLANTA (May 21, 2013) – Lincoln Property Company Southeast (Lincoln) recently brokered four office leases totaling nearly 70,000 square feet in the North Fulton submarket of metro Atlanta.

Hunter Henritze
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 details of the transactions are as follows:

• AT&T Services Inc. has signed a new lease for 42,342 square feet at 900 North Point Parkway in Alpharetta. Mike Morrone and Chris Wagner with Jones Lang LaSalle represented the tenant.

Michael Howell
AT&T was previously subleasing the space from Alcatel-Lucent.

• SunGuard iWorks has signed a new lease for 11,193 square feet at 400 Northwinds Center in Alpharetta. Jeff Mack and Kirk Adams with Newmark Grubb Knight Frank represented the tenant.

• Jan-Pro Franchising International has signed a lease extension and expansion and now occupies a total of 8,555 square feet at Two Northwinds in Alpharetta. No brokers represented the tenant in this transaction.

One Northwinds, Atlanta, GA
• Insperity Support Services renewed its lease of 7,579 square feet at One Northwinds in Alpharetta. John Dolan with CB Richard Ellis represented the tenant.

 Lincoln manages 3.3 million square feet and leases 1.9 million square feet of metro Atlanta office space on behalf of Equity Office.

“Since taking over Equity’s portfolio at the beginning of last year, Hunter and Michael have delivered a robust amount of leasing activity for this client,” said Tony Bartlett, senior vice president for Lincoln who oversees the firm’s Atlanta office. 

“They have done an impressive job of bringing in a whole range of tenants, and in their hands the future of this portfolio is very bright.”

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

Stephen Ursery
The Wilbert Group

Lincoln Property Company Southeast Brokers $265,000 Sale of Office/Warehouse Building in Central Florida


                            Springview Industrial Park, DeBary, FL

 ORLANDO, Fla. (May 20, 2013) – Lincoln Property Company Southeast (Lincoln) has brokered the $265,000 sale of a 6,600-square-foot office/warehouse building in the Springview Industrial Park in DeBary, Fla.

Sean DuPree
 Sean DuPree, director of sales and leasing for Lincoln, represented the seller, Red DeBary Holdings LLC, in the transaction. Melody Traeger of Coldwell Banker Commercial AI Group represented the buyer, NDJ LLC.

 The building has a light-industrial zoning and features ceiling heights ranging from 18 feet to 20 feet. Springview Industrial Park is two miles from Interstate 4 and provides easy access to downtown Orlando.

Melody Traeger
 “Sean did an excellent job of working with the seller to find the right buyer and a good price for this property,” said Scott Stahley, a Lincoln senior vice president who manages the firm’s Orlando office.

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

Stephen Ursery
The Wilbert Group

MACK Companies Purchases Fay’s Point, a 27-Acre Master-Planned Marina Community in Blue Island, IL

                                  Fay's Point townhomes rendering, Blue Island, IL

  CHICAGO,  – MACK Companies, one of the largest redevelopers of single-family investment properties in Chicago, has announced the purchase of Fay’s Point, a 27-acre development in Blue Island, Ill., just 15 miles south of Chicago.

James McClelland
Framed by the Little Calumet River, Fay’s Point is a marina community developed in 2006. The site is located just off of I-57, with close proximity to two Metra Rail stops and just minutes from a number of major retail outlets.  Fay’s Point is located at 1522 Broadway in Blue Island

The site includes 30 existing townhomes, home sites for 44 new-construction townhomes, five lots capable of up to 236 new multifamily units, and a marina with more than 80 boat slips.

 “We’re getting back to our roots with building ground-up, new construction residential properties,” said James McClelland, president and CEO of Tinley Park, Ill.-based MACK Companies.

Eric Workman
 “Before establishing MACK, I spent 16 years acquiring land and building new homes. For me, it is very exciting to once again deliver quality homes to a market that is prime for new residential product. This project is a perfect extension of our core business and continues our mission to raise the quality of life of our customers, whether they are renters or homeowners.”

 The project will be developed under MACK Estates, a division of MACK specializing in for-sale properties – both redeveloped luxury foreclosed homes and ground-up construction. MACK Estates was established in 2012, when the firm acquired more than a dozen foreclosed luxury single-family homes that it redeveloped and sold.

 “Given Chicago’s lack of quality for-sale inventory, there is no denying the pent-up demand for new construction in the market, and we’re starting to see it really accelerate with the addition of new households,’” said Eric Workman, vice president of sales for MACK Companies.

“MACK is committed to providing affordable single-family home options with the latest amenities near quality schools in strong communities. We are well-positioned as a company to seize the opportunity the market is giving us, while continuing that commitment with large-scale developments such as Fay’s Point.”

For more information on Fay’s Point, call 630-408-5582.

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

Mark Thomton,

Apartment Property in Everett, MA Sells for $1.2 Million


                                   765 Broadway apartments, Everett, MA

FRAMINGHAM, MA, May 21, 2013 – Investment sales broker Northeast Private Client Group has announced the sale of 765 Broadway, a 13-unit apartment building in Everett, Massachusetts.  

Christopher Donato
Christopher Donato, a licensed associate in the firm’s Framingham office, represented the seller and the buyer in the $1,200,000 transaction, which closed on May 8th.

 “High occupancy and growing rents in the Boston area are driving strong demand for multifamily properties,” notes Donato.  “This Everett asset is well positioned to benefit from the ongoing rehabilitation of the Everett submarket.” 

The city of Everett is implementing a targeted master plan focusing on the rejuvenation of the Broadway corridor, with significant emphasis on the strengthening of Everett Square, new transportation stations, pedestrian friendly improvements, and expanded retail. 

The seller, Hamlin Realty Trust, based in Stoneham, Mass., was the long-time owner of 765 Broadway and hired Northeast Private Client Group to exclusively market the property. 

The buyer, BK Realty Management of Newton, Mass., is focused on long-term, stable cash-flowing real estate assets.  The purchase price equates to $92,308 per unit, and represents a capitalization rate of 7.4 per cent on proforma 2013 net operating income.

"Qualified investors continue to compete for Boston-area multifamily assets," explains Edward Jordan, JD, CCIM, the firm’s managing director.  “With this Everett assignment, we were able to source the buyer and close the transaction within ten weeks of listing.

Edward Jordan

 Founded in 2010 by Edward Jordan, Northeast Private Client Group supports real estate investors with offices in New York, Connecticut and Massachusetts. 

 The firm specializes in representing owners of income producing properties, and supporting those who invest and sell property in the commercial and multifamily sectors across a region that stretches from New York to Boston.  

Jordan holds the Certified Commercial Investment Member (CCIM) designation and has served on the board of directors of CCIM.

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

Rick Leonard
RCL Communications