Tuesday, January 21, 2014

John Marr Joins Greystone as Managing Director to Boost Loan Origination in Northeast and Midwest

John Marr
New York, NY, Jan. 21, 2014 – Greystone, a leading national provider of multifamily and healthcare mortgage loans, today announced the addition of John Marr to the firm’s production team.

 As a Managing Director, Marr will focus on origination for debt-financing solutions across Fannie Mae, Freddie Mac, FHA, CMBS, as well as Greystone’s proprietary lending platforms.

 Marr brings over 30 years of experience financing various types of real estate projects to Greystone. Based in Connecticut, he will report to Joe Mosley, Executive Vice President and Head of Agency Production.

 “We are excited for John to join the team at Greystone,” said Mosley. “An industry veteran, his experience in commercial, mortgage and investment banking and broad expertise in project finance will be a valuable resource as we continue to expand our offerings.”

 Marr joins Greystone from Alliant/ACRE Capital LLC, where he served as Senior Vice President and was responsible for originating new multifamily loans across the Northeast and Midwest. Previously, Marr held roles at PaineWebber and Citibank, where he arranged financing for healthcare facilities and multifamily housing.

Joseph Mosley
Marr received a Bachelor’s Degree in Economics from Hartwick College and an MBA in Finance from the Wharton School of the University of Pennsylvania.

Greystone was the number one FHA lender in 2013 and is ranked as a top-10 Fannie Mae lender. For more information about Greystone’s multifamily financing solutions please visit http://www.greyco.com/multifamily.

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

Karen Marotta
212 896 9149

Loretta Mock/Jessica Kleinman
646 395 6300

Merrill Industrial Center Signs Three Leases Totaling Nearly 49,000 Square Feet in Fort Lauderdale, FL

Merrill Industrial Center, 3400 SW 26th Terrace, Fort Lauderdale, FL

Judy Dolan

FORT LAUDERDALE, FL (Jan.  21, 2014)- Berger Commercial Realty Vice President Judy Dolan brokered three leases at the Merrill Industrial Center in Fort Lauderdale.

 Postal Center International renewed its lease and expanded its warehouse space to 32,568 square feet, located at 3406 S.W. 26th Terrace.

 World Wide Metric, Inc. also renewed its lease and expanded its warehouse space to 12,213 square feet, located at 3402 S.W. 26th Terrace.

 Additionally, Bearings & Drives, Inc., a Georgia Corp., signed a new lease for 4,071 square feet of warehouse space at 3400 S.W. 26th Terrace.

Dolan represented Merrill Industrial Center in all three transactions.

 Merrill Industrial Center features 20-foot clear height ceilings, dock and grade-level loading, ample parking, and close proximity to the Fort Lauderdale-Hollywood International Airport.  For information on available space, contact Berger Commercial Realty at 954-358-0900.

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

Marielle Sologuren
(954) 776-1999, ext. 226

Mixed-Use, Five-Story Property in Heart of SoHo District, New York City, Listed for $10.9 Million

178 Spring Street, SoHo District, New York City, NY

Barbara Dansker
NEW YORK,  NY – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, is exclusively listing the five-story, mixed-use walkup building, located at 178 Spring St. in New York City. The listing price is $10,900,000.

            178 Spring St. is a 5,049 square feet mixed-use building that will be delivered vacant. The property is located between West Broadway and Thompson Street in the heart of SoHo.

            The building has five units comprised of one ground floor retail unit with a rear garden and four full floor apartment units. It has a 2A tax status and is located in a world famous shopping corridor. The property is in close proximity to subway lines C, E, N and R.

Barbara Dansker and Zachary Ziskin, both in Marcus & Millichap’s Manhattan office, are representing the seller, a longtime owner of 178 Spring St.

Interested parties should call Barbara Dansker or Zachary Ziskin of the Marcus & Millichap Manhattan office at: 212-430-5100.

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

Gina Relva,
Public Relations Manager
(925) 953-1716

NAI Realvest negotiates three new leases totaling 5,300 square feet in Altamonte, Maitland and Baldwin Park, FL

Jeff Bloom
ORLANDO, FL --- NAI Realvest recently negotiated three new lease agreements totaling 5,300 square feet at office and retail facilities in Altamonte, Maitland and Baldwin Park.

Jeff Bloom, senior director at NAI Realvest, brokered all three transactions representing landlords and tenants.

David’s Animal Clinic leased 3,000 square feet of retail space at 498 North S.R. 434 in Altamonte Springs from landlord Wallpaper Now, Inc. 

Bencor, Inc., a retirement planning firm, leased 1,027 square feet of office space in the Keewin Lexington Office Park at 175 Lookout Place off Maitland Ave. and Maitland Blvd.  The landlord is Maitland Law Centre, Inc.    

 Landlord T. Baldwin Center FL, LLC based in Dallas leased 1,272 square feet of retail space at 4832 New Broad St. in Orlando’s Baldwin Park to East Coast Floats.  The Orlando-based tenant will use the premises for a flotation therapy center.

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

Colliers International Promotes Richard King to Executive Vice President of Property Management Services

Richard King
MIAMI, FL - Colliers International South Florida is pleased to announce that Richard King, CPLS, has been promoted to Executive Vice President of the Real Estate Property Management Services Division. The 18-year operational expert will be at the helm of the South Florida property management division.

"Richard's extensive operational experience provides a critical element to the success of the performance of our client's assets," says Stephen Nostrand, CEO of Colliers International South Florida.

"His peers in the industry recognized his leadership abilities when they elected Richard President of BOMA Florida. Richard is a strategic thinker who has proven that plans only work when they are executed for the benefit of the client."

Throughout his career, Richard has been responsible for the growth and development of strategic property management plans throughout Florida and abroad.

His operational, hands-on expertise is second to none, as is evidenced by the success achieved at the properties he has overseen, including 444 Brickell Avenue, a 328,000-square-foot office building; Loehmann's Plaza, an 800,000-square-foot retail center in Aventura; and Beach Place, a 180,000-square-foot mixed use facility in Fort Lauderdale.

Stephen Nostrand

Richard previously served as Director of Facilities for Nortel Network Latin America, where he managed a three million-square-foot portfolio of international office assets.

 Richard earned a BA in Engineering from the University of San Diego and Mesa College. 

Prior to working with Colliers, Richard served and retired from the United States Marine Corps after 22 years.

"I have been with Colliers for 11 years, and I am excited to take this position with this supportive and dynamic company filled with great people," says King.

"I'm looking forward to servicing our existing portfolio and bringing even more clients on board to accelerate their success through the Real Estate Property Management Services platform."

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

1.4 Million U.S. Properties with Foreclosure Filings in 2013 Down 26 Percent to Lowest Annual Total Since 2007

IRVINE, CA – RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties released its Year-End 2013 U.S. Foreclosure Market Report™, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 1,361,795 U.S. properties in 2013, down 26 percent from 2012 and down 53 percent from the peak of 2.9 million properties with foreclosure filings in 2010.

Daren Blomquist
The 1.4 million total properties with foreclosure filings in 2013 was the lowest annual total since 2007, when there were 1.3 million properties with foreclosure filings.

The report also shows that 1.04 percent of U.S. housing units (one in every 96) had at least one foreclosure filing during the year, down from 1.39 percent of housing units in 2012 and down from a peak of 2.23 percent of housing units in 2010.

“Millions of homeowners are still living in the shadow of the massive foreclosure crisis that the country experienced over the past eight years since the housing price bubble burst — both in the form of homes lost to directly to foreclosure as well as home equity lost as a result of a flood of discounted distressed sales,” said Daren Blomquist, vice president at RealtyTrac. 

“But the shadow cast by the foreclosure crisis is shrinking as fewer distressed properties enter foreclosure and properties already in foreclosure are poised to exit in greater numbers in 2014 given the greater numbers of scheduled foreclosure auctions in 2013 in judicial states — which account for the bulk of U.S. foreclosure inventory.

“The push to schedule these auctions is certainly coming at an opportune time for the foreclosing lenders,” Blomquist added.

“There is unprecedented demand from institutional investors willing to pay with cash to buy at the foreclosure auction, helping to raise the value of properties with a foreclosure filing in 2013 by an average of 10 percent nationwide.”

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

Jennifer Von Pohlmann
949.502.8300, ext. 139

Post Properties Announces Estimated Income Tax Characteristics of 2013 Dividends

ATLANTA, GA--(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS) announced how it expects its 2013 dividends to be classified for federal income tax purposes.

Of special note is that for tax reporting purposes, the common stock dividend payable on January 15, 2014 is taxable in year 2014. 

This release is based on the preliminary results of work on the Company’s tax filings and is subject to correction or adjustment when the filings are completed.

The Company is releasing information at this time to aid those required to distribute Forms 1099 on the Company’s dividends. No material change in these classifications is expected.

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

 Post Properties, Inc.
Chris Papa, 404-846-5000

Lincoln Brokers the Sales of Four Office Buildings in Metro Orlando

Corporate Park I and II, 3670 and 3660 Maguire Boulevard, Orlando, FL

Joe Rossi

ORLANDO, FL  – Lincoln Property Company Southeast (Lincoln) has brokered two office investment sales in metro Orlando. All told, the transactions involved four buildings totaling more than 182,000 square feet; the combined sales price of the deals was $8.7 million.

 Joe Rossi, senior vice president of investment services for Lincoln, represented the seller in both transactions.

The details of the transactions are as follows:

• UP Fieldgate US Investments-Fashion Square LLC purchased Corporate Park I and II, two buildings in Orlando totaling 86,980 square feet, from RGA Real Estate Holdings for $4.75 million. Scott Corbin of Colliers International represented the buyer.

Corporate Park I and II, located at 3670 and 3660 Maguire Blvd., respectively, each feature three stories. The buildings are near downtown Orlando, Baldwin Park and Winter Park.

Scott Stahley
• Vista Premier Point LLC purchased Premier Point North and South, two buildings totaling 95,277 square feet in the suburb of Altamonte Springs, for $3.95 million from RGA Reinsurance Co. Rossi was the only broker involved in the transaction.

Premier Point North and South, located at 225 and 237 South Westmonte Dr., respectively, are near Interstate 4, Florida Hospital and Altamonte Mall.

“We saw the Orlando market office market improve throughout 2013,” said Scott Stahley, senior vice president for Lincoln who oversees the firm’s Orlando office. “As investors begin to chase higher yields, we expect to see this result in greater investor interest in Orlando office properties in the coming year. The transaction pace should be brisk.”

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

Stephen Ursery
The Wilbert Group

Cousins Properties Announces 67 Percent Increase in Its First Quarter 2014 Common Stock Dividend

Larry Gellerstedt
ATLANTA, GA --Cousins Properties Incorporated (NYSE: CUZ) announced its Board of Directors has declared a cash dividend of $0.075 per common share for the first quarter of 2014, representing a 67% increase over the prior quarter's common dividend.

The first quarter dividend will be payable February 24, 2014, to common stockholders of record on February 10, 2014. The $0.075 per share quarterly common dividend equates to $0.30 per share on an annualized basis.

The Board of Directors has also declared a regular quarterly cash dividend on its Series B Cumulative Redeemable Preferred Stock. The dividend of $0.46875 per share, or $1.875 on an annualized basis, is payable February 17, 2014, to Series B preferred stockholders of record on February 3, 2014.

"We are excited to provide our stockholders with such a large increase in our common dividend. The increase is driven by the successful execution of our strategic plan over the last three years," said Larry Gellerstedt, President and CEO. "We are confident that our cash flow going forward adequately supports this increased dividend rate."

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

Cousins Properties Incorporated
Marli Quesinberry, 404-407-1898
Director of Investor Relations and Corporate Communications

The Bassuk Organization Announces Closing of $210 Million Financing for Major New York City 80/20 Project

Richard Bassuk

New York, NY, Jan. 21, 2014 – Richard Bassuk, President of The Bassuk Organization, Inc., and Co-Chairman and Chief Executive Officer of Greystone Bassuk Group, announced today the closing of a $210,000,000 credit enhancement from Helaba Landesbank Hessen-Thüringen and PNC Bank, National Association under The New York State Housing Finance Agency (“HFA”) 80/20 Program for an affiliate of J.D. Carlisle Development Corp. (“Carlisle”).

The financing was structured with $111,445,000 of Series A low floater tax-exempt bonds and $30,000,000 of Series B taxable bonds issued by HFA in 2013, with the remaining $68,555,000 of tax-exempt bonds to be issued in 2014.

Proceeds from the bonds will be used to finance construction of Carlisle’s 319-unit 80/20 residential project known as 160 Madison Avenue.

The project is located on Madison Avenue between 32nd and 33rd Streets, and contains approximately 29,100 sq. ft. of retail space. 

80% of the residential units, or 265 units, will be market rate apartments.

The remaining 20% of the residential units, or 64 units, will be designated affordable housing units with 52 units rented to tenants whose household incomes are at or below 50% of the New York City Area Median Income (“AMI”), and 12 units rented to tenants whose household incomes are at or below 40% of AMI. 

“Mr. Bassuk acted as financial advisor and ably assisted us in the analysis of all aspects of the 80/20 Program and processing with HFA,” stated Jules Demchick, Chairman of Carlisle, a leading developer in New York City.

Jules Demchick
“We are delighted with the results achieved and look forward to working with Mr. Bassuk and his team again,” stated Evan Stein, the President of M.D. Carlisle Construction Corp., the construction manager for the project, and a principal of the developer.

“Financing 80/20 projects is highly labor intensive and takes specialized knowledge. 

"Demand and opportunity for these developments in New York City continues to grow because of additional benefits, including the 20-year real estate tax abatement available under this program.

Evan Stein
“To provide the necessary services, we have in-house specialists fully experienced with such complex projects,” said Mr. Bassuk.

He stated that, “TBO acts as the developer’s Owner Representative for the entire 80/20 process and provides owners/developers with the highest level of service available in the industry.”

Evelyn Savino worked with Richard Bassuk to close the transaction.

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

Karen Marotta
212 896 9149

Loretta Mock/Jessica Kleinman
646 395 6300

The Golf Academy at Celebration Golf Club to host Ping Demo Day on Saturday, Jan. 25

Nick Lawson
Celebration, FL--- The Golf Academy at Celebration Golf Club near Walt Disney World in Osceola County will host a Ping Demo Day on Saturday, January 25 from 10 a.m. to 2 p.m.   The event is free and open to the public.

Nick Lawson, Director of Instruction at The Celebration Golf Academy, said PING introduced a comprehensive new product line this year that delivers big distance gains while offering forgiveness and consistency for golfers of all abilities. 

The new products include the PING i25™ driver, irons, fairway woods and hybrids; the long, high-flying Karsten® hybrid/iron set, and the Karsten® TR putters with fully machined variable-depth grooves. Also unveiled was the innovative PWR metal-wood shaft family that uses variable weight and balance points to ensure a proper fit.

Lawson said he expects a strong turnout now that the winter season is fully under way. You can reserve a fitting appointment by calling 407-566-4653 ext 4606

The Ping Tour Van will be on site during the entire event to provide free custom fittings. The Golf Academy at Celebration Golf Club is home to one of only three Ping nFlight Fitting & Teaching Studios in the U.S.

“Demo Day at The Golf Academy offer golfers a hands-on touch-and-feel experience with Ping’s most elite products and equipment,” Lawson said.

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

Nick Lawson, Director of Instruction, Celebration Golf Club, 407-566-4653 ext 4606 nlawson@celebrationgolf.com
John Bixler, General Manager Celebration Golf Club, 407-5664653 ext 4611 jbixler@celebrationgolf.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142   

The Bergstrom Center for Real Estate Studies at the University of Florida Welcomes Dean Saunders, ALC, CCIM into Advisory Board Membership

LAKELAND, FL – Dean Saunders, ALC, CCIM,  broker/owner of Coldwell Banker Commercial Saunders Real Estate (http://www.saundersrealestate.com/author/DeanSaunders/)  (CBCSRE) in Lakeland, FL, has become a member of the Advisory Board for the Bergstrom Center for Real Estate Studies  (http://warrington.ufl.edu/centers/cres/) at the University of Florida (UF), Gainesville.

Dean Saunders
Saunders will contribute to the work of UF’s Real Estate Advisory Board to enhance the quality and visibility of the university’s real estate degree programs. 

In addition, as part of the Bergstrom Advisory Board, Saunders will participate in the strategic direction of the Center through its various committees and sponsored events. 

As a graduate of the University of Florida, Gainesville and an established Florida land broker for 28 years, Saunders has been involved and participatory in various UF programs and events over the years.

 His real estate work is known and respected in the specialties of Florida land, conservation easements, and land management. He is a former Florida legislator who created groundbreaking legislation on property rights and conservation.

In the business of real estate, Saunders earns significant recognition for sales performance from a variety of national and regional real estate organizations. He has earned the #1 top sales rank in the CBC affiliate network multiple times.

For a complete copy of the company’s news release, please contact:
CBC Saunders Ralston Dantzler
114 N. Tennessee Ave.
3rd Floor
Lakeland, FL 33801