Thursday, October 9, 2014

Maury L. Carter and Associates, Inc. Brokers Sales of 16 Bank Owned Properties in 27 Months


Maury L. Carter (left) and son, Daryl M. Carter
Orlando, Florida – Maury L. Carter & Associates, Inc. sold a 3-acre parcel of bank owned land in Seminole County for PNC Bank, N.A. for $290,000 cash.

The property, located on the west side of W. Airport Blvd., just north of Truman Blvd., is the sixteenth bank property sold by Maury L. Carter and Associates, Inc. in the last 27 months.

Additional properties recently sold include 4.7 acres in Orange County for $701,000 for Branch Banking and Trust Company, 3 acres on the south side of Highway 524, just West of I-95 in Brevard County for $70,000 for Eagle Florida III SPE, LLC, and 335 acres just west of State Road 710 in Okeechobee County for $1,172,710 for Branch Banking and Trust Company.

Daryl M. Carter with Maury L. Carter & Associates, Inc. represented the seller in each transaction. Carter says “this level of activity and shrinking bank owned property inventory are signs that the recession is over for Central Florida.”

Since January of 2012, Maury L. Carter & Associates, Inc. has completed over $102,000,000 in transactions on 13,679 acres of land.

Maury L. Carter & Associates, Inc. is an Orlando-based full service commercial real estate firm proficient in commercial real estate investments, asset management, brokerage, and development. 

The firm's officers combine more than 75 years’ experience in real estate investments and brokerage.

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

Maury L. Carter & Associates, Inc.
3333 S. Orange Avenue, Suite 200, Orlando, FL 32806
407-422-3144

Freddie Mac Launches National Small Balance Loan Product and Appoints Arbor Commercial Mortgage as One of Three Eligible Lenders


Ivan Kaufman
UNIONDALE, NY (Oct. 9, 2014) – As part of its new Small Balance Loan Product, Freddie Mac has appointed Arbor Commercial Mortgage, a long-standing, leading small multifamily lender, as one of three eligible nationwide lenders. 

“We are extremely pleased to partner with Freddie Mac on this new, national product offering,” said Ivan Kaufman, Chairman and CEO of Arbor. 

“Through our experience and success in the multifamily small balance loan business, we have a comprehensive understanding of the level of expertise needed to execute this product and recognize the importance of properly serving this growing market.”

“We are excited to partner with Arbor Commercial Mortgage as one of our first Small Balance Loan Seller/Servicers,” added David Brickman, Executive Vice President of Freddie Mac Multifamily.

 “As a veteran small loan lender, Arbor brings a great deal of knowledge and talent to this program and we look forward to working with them in serving the multifamily small loan market.”

David Brickman
Arbor is now one of a few multifamily lenders offering both Freddie Mac and Fannie Mae Small Loans. Earlier this year, Freddie Mac appointed Arbor as a Program Plus® Seller/Servicer for all conventional loan products.

Arbor has been a Top 10 Fannie Mae DUS® Multifamily Lender for seven years in a row and is a Top Fannie Mae DUS® Small Loan lender.

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

Christopher Ostrowski

Wyndham Hotel Group Announces 10 Properties in India


Geoff Ballotti
MUMBAI, India (Oct. 9, 2014) – Wyndham Hotel Group, the world’s largest hotel company with over 7,540 hotels and a part of Wyndham Worldwide Corporation (NYSE: WYN), today announced the signing of 10 properties in India, thereby expanding the company’s presence in the rapidly growing mid-market hospitality segment in the country.

The 10 properties, which will operate under the Ramada Encore® and Howard Johnson® brands, will be located in Gurgaon, Darjeeling, Greater Noida, Jaisalmer, Pali, Lonere, Dharmapuri, Bangalore, Chennai and Trivandrum.

The announcement was made by Geoff Ballotti, president and chief executive officer, Wyndham Hotel Group, and Deepika Arora, regional vice president, Indian Ocean, Wyndham Hotel Group, at a press conference today.

There are currently 24 properties with approximately 2,587 rooms open under the Ramada®, Wyndham Hotels and Resorts® and Days Inn® brands in India and 33 properties with approximately 3,753 rooms under development.

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

Prerna Jain
Senior Associate-Cohn & Wolfe India
M: +91 9920 930680


Wyndham Hotel Group Signs Deal for First Planet Hollywood Hotel in India

  
Deepika Arora
MUMBAI, India (Oct. 9, 2014): Wyndham Hotel Group, the world’s largest hotel company with approximately 7,540 hotels and part of Wyndham Worldwide Corporation (NYSE: WYN), today announced the signing of a franchise agreement with JMJ, a large conglomerate with a multi-faceted presence, for the first Planet Hollywood hotel in India.

The Hollywood-inspired theme hotel, expected to be operational by the end of 2014, will be only the second in the world after Planet Hollywood, Las Vegas.

Deepika Arora, Ć½regional vice president, Indian Ocean, EMEAI for Wyndham Hotel Group said, “We are thrilled to welcome Planet Hollywood Beach Resort Goa into our Hotel Group family and to one of India’s premiere destinations. We look forward to a successful partnership with JMJ and to continuing to expand throughout India.”

Sachin Joshi
Sachin Joshi, Managing Director, JMJ group said, "We are truly excited about setting up a world class hotel with a world class partner. 

"The company's formidable scale and expertise as a global brandbuilder will meet our endeavour to further enhance the aesthetic value of Goa. Given its features, we are looking forward to Planet Hollywood being a landmark destination in Goa. 

"The brand’s ‘Let there be fame’ philosophy means guests at the property will be treated like celebrities.”

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

Cohn & Wolfe India
 / 9322652611

Passco Companies Acquires 244-Unit Multifamily Community in South Carolina for $30.9 Million

  
 GREENVILLE, SC – Passco Companies, LLC has acquired the 244-unit Class A multifamily community Vinings at Laurel Creek for $30.9 million.  Vinings at Laurel Creek is located at 3434 Laurens Road in the City of Greenville, S.C.

The newly constructed community, which was completed in 2013, is located in the highly desirable Greenville-Spartanburg-Anderson region of South Carolina known as “Upstate,” according to Gary Goodman, Senior Vice President Acquisitions of  Passco Companies.

Vinings at Laurel Creek, Greenville, SC

“The Upstate region of South Carolina has demonstrated tremendous growth over the past twenty years,” explained Goodman. “Vinings at Laurel Creek is located in Greenville’s most active employment submarket, ensuring ample renter demand from the growing population of area employees.”

Gary Goodman
According to Goodman, Vinings at Laurel Creek is in close proximity to downtown Greenville, and is also adjacent to two of Greenville’s newest business and technology parks, including Clemson University’s International Center for Automotive Research (CU-iCar), as well as the Millennium Campus Business Park.

“Greenville’s unemployment rate is currently 2.2 percent lower than the national average,” explained Goodman. 

“The region’s strong employment rate is a result of a large concentration of automotive, engineering, high-tech and manufacturing companies that have been attracted to the area in recent years. 

"With its employment and population boom poised to increase each year, a high demand for quality product will only continue to rise.”

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

Corynne Randel / Jenn Quader
Brower, Miller & Cole
(949) 955-7940


Thomas D. Wood and Company’s Miami Office Secures $17,195,807 in Commercial Mortgage Transactions

­

Steve Wood
Miami, FL  – The Miami Office of Thomas D. Wood Company, a Strategic Alliance Mortgage LLC member, secured $17,195,807 in commercial mortgage transactions for properties throughout the state of Florida.  Interest rates continue to stay as low as 4.0%, contributing to the increase in successful closings.

Company Chief Operating Officer Steve Wood obtained financing in the amount of $2,600,000 for the San Pablo Family Center through Thomas D. Wood and Company’s correspondent relationship with The Standard.  The permanent non-recourse loan has a term of 25 years, with an interest rate reset at years 10 and 20, based on a 25-year amortization.  The 47,455 square-foot retail center was built in 1988 and is located in Jacksonville, Florida.

Wood also secured financing through The Standard in the amount of $1,100,000 for EM Shopping Center.  The permanent full-recourse loan has a term of 25 years, with an interest rate reset at years 10 and 20, based on a 25-year amortization.  The 10,234 square-foot retail center is located in Hialeah, Florida.

Patrick Harrington
Company Senior Vice President Patrick Harrington secured financing in the amount of $5,800,000 for the Sarno Business Center in Melbourne, Florida.  The fixed-rate non-recourse loan has a term of 10 years, based on a 25-year amortization.  The 140,027 square-foot retail and office building is home to major tenants Brevard Health Alliance and American Title.

Company Vice President Michael Kramer obtained financing in the amount of $1,500,000 for Ventura Properties through Symetra Life Insurance Company.  Kramer refinanced the three multi-family properties, providing the borrower a fixed-rate fully-amortizing loan with a term of 15 years.  Ventura Properties are located in Miami Beach, Florida.

Additional commercial mortgage transactions done by Wood include:  The refinancing for Lucien Green Office, an office building located in Maitland, Florida, in the amount of $1,778,414, and the refinancing for Kissimmee Value Outlet Shoppes, which is located in Kissimmee, Florida, in the amount of $4,417,393.

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

Jessica Kinnee              
Director of Marketing & PR               
Thomas D. Wood & Co.
(407) 374-0251

       

REVA Development Partners Breaks Ground on Luxury Rental Community Residences of Orland Park Crossing in Orland Park, IL


Matt Nix
 CHICAGO, IL, Oct. 9, 2014 – Chicago-based REVA Development Partners and Wanxiang America Real Estate Group announced they have broken ground on a 231-unit luxury rental community in south suburban Orland Park, Ill., called The Residences of Orland Park Crossing.

Located at 143rd Street and La Grange Road, the community is adjacent to the Orland Park Crossing lifestyle retail center and across the street from Orland Park’s Main Street Triangle development, a large-scale public-private partnership with residential, retail, a new Metra station and plans for medical office space and restaurants.

“We’re very excited to be part of this thriving area, which continues to grow and have a positive impact on Orland Park,” said Matt Nix, principal of REVA Development Partners.

“The Orland Park Crossing retail center has been a consistent performer and the Main Street Triangle has been gaining strong momentum with the completion of the residential phase and the announcement of the 120,000-square-foot University of Chicago medical office building.

“The Residences of Orland Park Crossing will be developed along with a new Mariano’s Fresh Market, which will be an ideal complement to the town center area.”

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

Vanessa Irving, virving@taylorjohnson.com, (312) 267-4525
Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

Lexington Unveils Two Immediate-Delivery Custom Homes at Woodleaf at The Sanctuary Club in Kildeer, IL


Jeff Benach
CHICAGO, IL– Chicago-based Lexington Homes has completed construction of two immediate-delivery homes at Woodleaf at The Sanctuary Club, a community of 26 custom and semi-custom luxury homes in north suburban Kildeer, Ill.

Served by the award-winning Stevenson High School, Woodleaf at The Sanctuary Club is located along the north side of Half Day Road (Route 22), west of Old McHenry Road and east of Quentin Road.

“The beauty of building at Woodleaf at The Sanctuary Club is that because buyers can make practically any change they want to our plans, they theoretically end up with a custom home, but without the custom price,” said Jeff Benach, co-principal of Lexington Homes.

 “And now, with the completion of these two move-in ready luxury homes, buyers can own a home with the most desirable features and finishes in a much shorter time frame.”
  
For a complete copy of the company’s news release, please contact:

Kelly Shumaker, kshumaker@taylorjohnson.com, 312-267-4519
Emily Johnson, ejohnson@taylorjohnson.com, 312-267-4522

Marcus & Millichap Sells Regional Retail Center in Houston, TX


Village Real Shopping Center, Houston, TX
HOUSTON, TX – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Village Real shopping center, a 94,259-square-foot regional retail center in Houston. The terms of the sale were not released.

            Jerry Goldstein, first vice president investments in Marcus & Millichap’s Houston office, arranged the sale on behalf of the seller, a local partnership. Goldstein also sourced the buyer, Dallas-based Dunhill Partners.

            “The Village Real Shopping Center is well positioned to benefit from the ongoing growth of the Houston metropolitan area,” says Goldstein, “and the property’s vacant 15,309 square feet provides the new owner with a revenue enhancement opportunity.”

Jerry Goldstein
The shopping center is located at the intersection of Nasa Parkway and El Camino Real at 961 Nasa Parkway in Clear Lake City, a 12,000-acre master-planned community in Houston.

 El Camino Real, with traffic counts of more than 90,000 cars per day, links major commercial developments and residential subdivisions throughout Clear Lake City. Nasa Parkway is a major east/west thoroughfare and the primary exit from Interstate 45 South (The Gulf Freeway) that provides access to Clear Lake City, the National Aeronautics and Space Administration’s Johnson Space Center and the Kemah Boardwalk, 60-acre entertainment destination.

The Nasa Parkway/El Camino intersection has retail properties on three corners and an office property on the fourth.

Built in 1976 on 4.4 acres and most recently renovated in 2008, Village Real Shopping Center is occupied by a 21,803-square-foot Office Depot and an 8,440-square-foot Half Price Books. There are 23 tenant spaces that range in size from 820 square feet to 21,803 square feet.

Tenants include Eduardo’s Mexican Restaurant, Subway, Nasa Liquor, Value Furniture, Masa Sushi, J.C. Jewelers and Hollywood Hair, among others.

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

Gina Relva
Public Relations Manager
(925) 953-1716

Wendy’s Sale/Leaseback Portfolio Hits the Market at $24.3 Million


Wendy's Winter Park, FL
MIAMI, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced it has obtained the exclusive listing for a sale/leaseback portfolio of eight Wendy’s restaurants with locations throughout Florida. 

The portfolio is listed for $24,301,904.  The properties may be purchased together or separately.

Ronnie Issenberg, vice president investments, Gabriel Britti, associate vice president investments, and Roee Ben-Moshe, associate, all in Marcus & Millichap’s Miami office, are marketing the portfolio on behalf of the seller, a limited liability company from Boca Raton, Fla.

Ronnie Issenberg
“Net-leased properties remain a target of commercial real estate buyers as both a capital preservation vehicle and steady cash-flow investment,” says Britti. “Assets with long-term, absolute net leases with fixed rental increases are difficult to find, especially large portfolios of quick-serve restaurants.”

At close of escrow, the existing Wendy’s operator will sign a brand new, 20-year, absolute triple-net lease. The lease will include 7.5 percent increases every five years with four five-year options. The lease will be absolute-net in nature, with no landlord responsibilities.

“Quick-serve restaurant properties feature recognizable tenants and are typically located as outparcels to shopping centers in high profile locations,” adds Issenberg.

The properties’ locations are:

·         365 University Park Drive, Winter Park, Fla.
·         2390 West 68th St., Hialeah, Fla.
·         8901 West Commercial Blvd., Tamarac, Fla.
·         499 Florida 7, Margate, Fla.

Gabriel Britti
·         3801 West Broward Blvd., Plantation, Fla.
·         8200 Champions Gate Blvd., Champions Gate, Fla.
·         7693 East Colonial Drive, Orlando, Fla.
·         2031 East Oakland Park Blvd., Fort Lauderdale, Fla.

 Interested investors may contact Ronnie Issenberg, Gabriel Britti or Roee Ben-Moshe at (786) 522-7000.
  
For a complete copy of the company’s news release, please contact:

Gina Relva
Public Relations Manager
(925) 953-1716

Comcast Business Announced as Title Sponsor of Annual Waterford 5K at Blue Lagoon in Miami, FL


Waterford at Blue Lagoon Office Park, Miami, FL
MIAMI, FL — Comcast Business in Florida is the new title sponsor of the 8th Annual Waterford 5K at Blue Lagoon: MEGA Glow Edition.  Committed to nearly a decade of health and wellness, the annual 5K (3.1 mile walk/run), which is produced by Taylor & Mathis and TeamFootWorks, will once again wind its way through Waterford at Blue Lagoon Office Park on Friday, November 7, beginning at 6:45 p.m., and will benefit the children and families at Miami Children’s Hospital.

 Comcast Business provides advanced communications services to organizations of all sizes. The company is currently expanding its fiber-based Ethernet network into Blue Lagoon, which will deliver Internet speeds up to 10 Gigabits per second (Gbps).

Miami Children's Hospital
“Giving back to the community has always been a part of our company’s DNA,” said Gary Phillips, Vice President of Comcast Business in Florida. “Comcast Business is thrilled to be teaming up with these great local organizations to support Miami Children’s Hospital and the South Florida community through this engaging event.”
  
For a complete copy of the company’s news release, please contact:


RealtyTrac Reports Home Equity Lines of Credit Jump 21 Percent Through First Half of 2009 but Still 76 Percent Below 2006 Peak


Daren Blomquist
IRVINE, CA — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its first-ever U.S. Home Equity Line of Credit Trends Report, which found that in the 12 months ending in June 2014 a total of 797,865 Home Equity Lines of Credit (HELOCs) were originated nationwide, up 20.6 percent from a year ago and the highest level since the 12 months ending in June 2009.

The report also shows HELOC originations accounted for 15.4 percent of all loan originations nationwide during the first eight months of 2014, the highest percentage since 2008.

“This recent rise in HELOC originations indicates that an increasing number of homeowners are gaining confidence in the strength of the housing recovery and, more importantly, have regained much of their home equity lost during the housing crisis,” said Daren Blomquist.

“Nearly 10 million homeowners nationwide, representing 19 percent of all homeowners with a mortgage, now have at least 50 percent equity in their homes, according to RealtyTrac data.

“Meanwhile the percentage of homeowners with severe negative equity has decreased from 29 percent in the second quarter of 2012 to 17 percent in the second quarter of this year.”

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

Ginny Walker
Office: 949.502.8300 ext. 268
Mobile: 323-317-5852  

Henin Group names Christine Stephens Executive Assistant to President


Christine Stephens
WINTER PARK, FL– The Henin Group has named Christine Stephens executive assistant to the president.

Jerome Henin, principal and president of The Henin Group, said Stephens has more than 18 years of experience in the real estate industry.

Stephens was formerly employed with Marriott Vacations Worldwide and is a native of Gainesville.

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