Thursday, July 3, 2014

RealtyTrac Ranks Best Overall Markets for Buying Residential Rentals and Renting to Boomers and Millennials

Daren Blomquist
IRVINE, CA, July 3, 2014 — RealtyTrac® (, the nation’s leading source for comprehensive housing data, today released its Q2 2014 Residential Property Rental Report, which ranks the best markets for buying residential rental properties along with the best markets for renting to baby boomers and the best markets for renting to millennials.
The 370-county analysis found that investors buying U.S. residential rental property in the second quarter of 2014 are getting an average annual return of 9.97 percent, down from an average annual return of 10.60 percent a year ago.
Median home prices in the 370 counties analyzed in the report increased more than 7 percent on average in the second quarter of 2014 compared to a year ago, while average fair market rents for three-bedroom homes increased an average of less than 1 percent.

“Home prices have increased at a faster pace than fair market rents in most counties over the past year, eroding the average returns available to investors buying rental properties,” said Daren Blomquist, vice president at RealtyTrac.
 “Even so, an average annual return of nearly 10 percent across all the counties we analyzed nationwide is still solid, and investors holding on to rental property for the long term will also typically benefit from home price appreciation on top of the annual returns from rental income.
“Investors leveraging demographic trends will often be able to amplify rental returns and home price appreciation, particularly when it comes to trends in the baby boomer and millennial generations, which combined account for approximately 147 million people — more than 60 percent of the U.S. adult population,” Blomquist continued. 

“Many individuals in both of those demographic groups are in the midst of major life changes that will often involve changes in housing, something that smart real estate investors should take into consideration when deciding when and where to buy or sell.”

For a complete copy of the company’s news release, please contact:
Jennifer von Pohlman
PR Manager
Office: 949.502.8300 ext 139

New Business Growth at Southpointe Commons in Fort Myers, FL

Tracy Worrell
FORT MYERS, FL – Tracy Worrell, Senior Associate for Crossman & Company along with Co-Broker Gary Tasman, founder, Executive Director at Cushman & Wakefield in Fort Myers, FL, signed a new lease for 3,240 square feet for Southpointe Commons. 

Southpointe Commons leased the space to Doctors EyeCare Center at 5995 Southpointe Blvd. Suite 111-113.

 Southpointe Commons, anchored by Publix Super Markets on College Parkway in Fort Myers is welcoming their third additional new business to the shopping center.
In the last 12 months, Worrell has leased 5,760 sf in Southpointe Commons bringing the center to 97.5% occupancy rate. 
This is a great sign that Fort Myers market is headed in a positive direction.
Doctors EyeCare Center is the leading provider of quality vision care products and personalized optometric services in Fort Myers. Doctors EyeCare Center adds the missing link to the all-inclusive Publix anchored shopping center which includes the current tenants: City Nail Salon, Tasty Wok, First Choice Hair, Papa John’s, GNC, Vet Clinic, Goodwill and Publix Liquors.
For a complete copy of the company’s news release, please contact:
Claire Pagán

IPA Boston Sells Avalon Danvers for Record $108.5 Million, Highest for Single-Property Multifamily Transaction in Massachusetts This Year

Jennifer Athas
DANVERS, MA, July 3, 2014 – Institutional Property Advisors (IPA), a brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has arranged the sale of Avalon Danvers, a 433-unit multifamily complex in the northeastern Massachusetts town of Danvers.

 The $108,500,000 sales price equates to $250,500 per unit and is the highest price recorded for a single-property multifamily transaction in Massachusetts thus far in 2014.
            IPA Boston executive director Richard Robinson, along with associate directors Philip Lamere and Jennifer Athas, brokered the sale. 
            “Avalon provided us with a unique opportunity to identify the right investor for this extraordinary asset,” says Robinson. “Our long experience in the Boston-area marketplace keeps us prepared to provide clients with the data they need to make informed investment decisions and close transactions quickly. These two abilities proved to be key elements in the disposition of Avalon Danvers.” 
            Located approximately 20 miles north of downtown Boston, Avalon Danvers is a remodeled 19th century hospital that features period architecture and a mix of fully renovated brick buildings and new construction.
Philip Lamere
Converted to apartments in 2006, the property is located on 36.7 acres at 1101 Kirkbridge Drive in Danvers, Mass. near U.S. Route 1 and Interstate 95. 
            “The Avalon Danvers sales price is proof of the strong appetite institutional investors have for well-located suburban multifamily properties north of Boston,” adds Lamere.    
             Apartments at Avalon Danvers feature unique floor plans with spacious living rooms, generous closet space, fully equipped gourmet kitchens with contemporary cabinetry and high-end appliances, washers and dryers, sustainable plumbing fixtures and HVAC equipment, and most have private balconies and/or patios. 
Community amenities include an outdoor swimming pool, an indoor basketball court, a fitness center with children’s playroom, a social lounge with a billiards table and a landscaped barbecue and picnic area. 
 For a complete copy of the company’s news release, please contact:

Gina Relva
Public Relations Manager
(925) 953-1716

Annaly Capital Management, Inc. Announces Conversion Rate Adjustment for 4.00% Convertible Senior Notes Due 2015

NEW YORK, NY --(BUSINESS WIRE)-- Annaly Capital Management, Inc. (NYSE:NLY) (“Annaly” or the “Company”) has announced an adjustment to the conversion rate for 4.00% Convertible Senior Notes Due 2015 (the "Notes").

The adjustment to the conversion rate for the Notes is being made pursuant to the governing indenture for the Notes in light of the Company's previously announced second quarter 2014 common stock cash dividend of $0.30 per common share.

The new conversion price for the Notes is $11.8944 per common share, effective June 27, 2014. The conversion price for the Notes was previously $12.2079 per common share. The new conversion rate for each $1,000 principal amount of Notes is 84.0728 of the Company’s common shares.

The conversion rate for each $1,000 principal amount of Notes was previously 81.9145 of the Company’s common shares.

 Notice of the conversion rate adjustment was delivered to security holders and Wells Fargo Bank, National Association, the trustee, in accordance with the terms of the governing indenture for the Notes.

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

 Annaly Capital Management, Inc.
Investor Relations,

Indonesia’s Best Sommerlier Award Conferred on Sheraton Bali Kuta Resort’s Pamor Budi Kurniawan of Bene Italian Kitchen

Chef Pamor Budi Kurniawan
BALI, INDONESIA, July 3, 2014– Sheraton Bali Kuta Resort is pleased to announce that Bene Italian Kitchen’s manager and sommelier, Pamor Budi Kurniawan, has won the top award in the annual Indonesian Sommelier Association Competition. 

 This prestigious recognition further boosts Bene Italian Kitchen’s growing reputation as the go-to destination restaurant in Bali for authentic Italian cuisine.

“What a wonderful honor for Pamor Budi and Sheraton Bali Kuta Resort,” said Dario Orsini, General Manager of Sheraton Bali Kuta Resort. 

 “We are proud of Pamor Budi’s accomplishments and, in turn, are delighted to offer guests, visitors and locals alike the best wine and best cuisine at Bene Italian Kitchen.”

Set against the backdrop of the Indian Ocean with views of the Kuta Beach skyline, Bene Italian Kitchen is a contemporary trattoria with a comfortable and inviting ambience. 

Whether dining in a group with family or friends, or enjoying a romantic dinner for two, Bene offers three different experiences: including al fresco by the pool; shared family-style on the second level; or on the spectacular rooftop terrace with ocean views.

Dario Orsini
  Bene has just launched a new menu featuring Top 100 Pastas – 100 different handmade pasta dishes inspired by authentic heritage Italian recipes from just IDR 100K. 

As sommelier at Bene Italian Kitchen, Pamor Budi carefully curates and manages an extensive international wine collection and makes wine and food pairing recommendations for guests.  

He particularly enjoys expanding and enhancing the collection of Italian wines at Bene – now at 100 different selections to choose from.

 “I became a sommelier because I love sharing my knowledge of wine with our guests and my fellow associates,” said Pamor Budi. 

 “I truly enjoy helping people discover something new and opening the door to new experiences.  I enjoy teaching people how they can create perfect pairing of wine with different types of cuisine.”

Pamor Budi’s favorite Italian wines are Guado Al Tasso from Antinori and Tenuta San Guido Sassicaia from Tuscany, and Luce from Frescobaldi. He also enjoys making fresh Red Sangria at Bene, using Italian red wine – preferably made with Sangiovese grapes from Tuscany – mixed with Italian herbs and cherry tomatoes.  Look for Pamor Budi’s signature Sangria on Bene’s daily menu.

The 5th annual Indonesian National Sommelier Competition was held in Jakarta at the Jakarta Wine and Cheese Festival with 32 of the country’s top sommeliers competing for the prestigious prize.  The sommeliers were put through a rigorous process which included a written test, tasting and service scenarios.  Pamor Budi will represent Indonesia at the 2014 South East Asian Sommelier Competition in November in Bangkok.

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

Hwee Peng Yeo
Vice President, Asia Markets
Glodow Nead Communications
San Francisco • New York • Singapore • Shanghai
Level 21, Centennial Tower, 3 Temasek Avenue • Singapore 039190
1700 Montgomery Street, Suite 203 • San Francisco, CA • 94111
Asia: 65.9768.6087  US:415.394.6500 • E:

Salazar Jackson Closes Sale of Miami, FL Apartment Building

Linda Worton Jackson
Miami, FL – On July 1, 2014, Salazar Jackson closed on the sale of a 22-unit residential apartment building to 747 Property, LLC for $1.59 million – all cash.

The sale was approved by U.S. Bankruptcy Judge A. Jay Cristol at a hearing on June 18, 2014. 747 Property, LLC won the bid for the property at a bankruptcy auction conducted by Linda Worton Jackson, Co-Founder of the Miami-based law firm Salazar Jackson, counsel to the bankruptcy trustee.  Maria Yip served as the bankruptcy trustee for the original owner.

 “This is an area that was one of the worst in the city, but now investors see it as an opportunity and a great investment,” said Jackson.

 Sperry Van Ness Commercial Realty brokered the sale, which will be sufficient to pay all creditors in full.

 The buyer outbid two other bidders at the auction. The property, located at 747 NE 83rd Terrace, will be maintained as an apartment building. The original owner filed for Chapter 7 bankruptcy in February 2014 to prevent foreclosure.

Maria Yip
Salazar Jackson LLP ( is a Miami-based firm that serves individuals and businesses facing financial crisis, complex commercial litigation or government investigations as well as those seeking to seize financial or business opportunities through startups, mergers, acquisitions and divestitures. They represent clients in matters throughout the country. 

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

Boardroom Communications
Michelle Friedman

Phone: 904-641-3226