Thursday, November 20, 2014

Golden Key Awards Honor Bainbridge Management Communities, Associates

Ricardo Alicea
Orlando, FL and Wellington, FL – Several Bainbridge Management associates  and communities were recently honored for excellence by The Apartment Association of Greater Orlando (AAGO.)

The multifamily real estate trade association bestowed them with Golden Key awards, which recognize properties and individuals achieving the highest level of service and commitment to their industry. 

The award winners include:

* Key Isle at Windermere: Luxury Community of the Year, Large category
* Verona at Valencia Park: Community of the Year, Medium category
* Efrain Lebrón of Valencia Plantation: Groundskeeper of the Year, Small category
* Tracy Lesse, Enclave at Lake Underhill and Valencia Plantation senior property manager: AAGO Volunteer of the Year

Key Isle at Windermere Apartments, Ocoee, FL
“Tracy has been a huge supporter for the past 22 years, both as a supplier and a management representative,” said AAGO official Julie Smith. 

“She is an excellent ambassador for the group and more than deserves the recognition.”

Lesse serves on the AAGO board and committees, teaches classes and recruits new members.

 In addition to the Golden Key awards, she will also be recognized by the Florida Apartment Association. Lesse is senior property manager for two Bainbridge apartment communities: the newly-remodeled Enclave at Lake Underhill, and Valencia Plantation, located on Lake Porter in the heart of Orlando.

Verona at Valencia Park Apartments, Orlando, FL

Luxury Community of the Year Key Isle at Windermere in Ocoee is a walkable community with charming colorful exteriors and stylish interiors near Highway 429 and the Florida Turnpike. 

Community of the Year Verona at Valencia Park near Downtown Orlando has luxurious amenities and stunning views.

“All of us at Bainbridge are honored to receive these prestigious industry awards,” said Bainbridge Management’s Regional Vice President Ricardo Alicea. “We are very proud of our associates and these awards reinforce our belief that our people are what set Bainbridge apart.”

The awards ceremony was held Nov. 8, 2014, at the Hilton Orlando International Dr.
For a complete copy of the company’s news release, please contact:

Terri Thornton

Essex Realty Group Brokers the Sale of a 36-Unit Multi-Family Building in Chicago, IL

Jim Darrow
CHICAGO, IL, Nov. 20, 2014 - Essex Realty Group, Inc. is pleased to announce the sale of 2834 W. Palmer in Chicago, Illinois.

The property is a 36-unit corridor style building located in Chicago’s Logan Square neighborhood.  It is situated on the north side of Palmer Street around the corner from California Avenue.

This prime tree lined side street location in Logan Square is rarely available. The masonry and terra cotta façade contributes to the building’s curb appeal and presence on the Street.

 The property is steps to the California Blue Line “L” stop, the Revolution Brewery, Logan Bar, Masada restaurant and one blocks east of Palmer Square. The California Blue line station is receiving major upgrades which will further the appeal of this excellent location.  

Jordan Gottlieb
The sale price was approximately $2,900,000.

Jim Darrow and Jordan Gottlieb were the brokers on the transaction.

Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

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

Douglas Fisher
Essex Realty Group, Inc.

Crossman & Co. Brokers $8.8 Million Publix-Anchored West Jackson Crossing Near Atlanta, GA

West Jackson Shopping Center, Hoschton, GA
HOSCHTON, GA – Anchored by Publix, the 68,649 square foot West Jackson Crossing, was sold on November 14th.

 Located Northeast of Atlanta along the I-85 corridor, the center finds itself in a solid demographic and is well positioned to maintain its current marketing leading sales volume status for years to come. 

  Notable tenants include Publix, Verizon Wireless, Pizza Hut and Great Clips.

John Zielinski
Crossman & Company’s Senior Vice President, John Zielinski, and Managing Director, Mark Thompson, exclusively represented the seller to the market.

Mark Thompson states, “The property saw tremendous activity from both the regional and international buyers.”

John Crossman, President of Crossman & Company adds, “This is the 11th Publix anchored center that we have sold this year in the Southeast US.  I am proud of our team and the service they provide to clients."
For a complete copy of the company’s news release, please contact:

Sydnie Cobb
Crossman & Company

U.S. Commercial Real Estate Recovery Strengthens in Q3 2014

Jon Southard
Los Angeles, CA --  The U.S. commercial real estate market strengthened strongly across all property types in the third quarter of 2014 (Q3 2014), with the office sector delivering its best performance in eight years, according to the latest analysis from CBRE Group, Inc.

The office vacancy rate declined by 40 basis points (bps) from the previous quarter to reach 14.1% in Q3 2014 – the sharpest drop since Q2 2006.

In Q3 2014, national industrial availability declined 20 bps from the previous quarter to 10.6%.

Retail availability fell to 11.5%, a 20 bps decrease for the quarter.

“The real estate recovery clearly gained in strength in the third quarter as all property types saw notably improved demand trends,” said Jon Southard, Managing Director of CBRE’s Econometric Advisors group.

 “Especially important, office tenants showed greater confidence in expanding their footprint and finally appear to be shaking off the lingering effects of the recession.”

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

Ronald J. Rogg, CCIM
Executive Vice President
T +1 407 839 3194

Stirling Sotheby's International Realty Names Andrea Byrge International Marketing Specialist at Lake Nona Real Estate Gallery in Orlando, FL

 ORLANDO, FL– Stirling Sotheby’s International Realty has named Andrea Byrge an International Marketing Specialist with the firm’s Lake Nona real estate gallery located on Narcoossee Rd. serving the Lake Nona/St. Cloud/Medical City area.

Andrea Byrge
Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said Byrge was formerly an educator who taught both elementary and high school for 22 years in the Orange County Schools system and several private schools.

Byrge is heavily into volunteer work and was a project leader with the World Changers Mission, a fundraiser for American Cancer Society and mentor for small business start ups.

 The long-time St. Cloud resident is currently on the board of directors of Lake Lizzie Homeowners Assn.  

Byrge is also a board member of the St. Cloud-Greater Osceola Chamber of Commerce and on the Chamber’s Lake Nona Area Council, its Marketing Committee and the St. Cloud Life Co-Chair. 

John Crossman
“Andrea’s experience and contacts in the St. Cloud-Lake Nona area will be an asset to her success in meeting the needs of discerning buyers and sellers,” Soderstrom said.

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

Larry Vershel or Beth Payan, Larry Vershel Communications

Access Point Financial Reaches $500 Million Hotel Loan Threshold

Jon S. Wright

 ATLANTA, GA —Access Point Financial, Inc. (APF), a direct full-service lending and advisory firm focused on the hospitality industry, announced that it will surpass the $500 million hotel loan threshold based on loans scheduled for closing this month. 

This represents over 275 loans and more than $1.0 billion in hotel asset valuations since inception.  The company said demand continues to build and its current pre-screened pipeline is approaching another $400 million. 

“We were the first hotel-vertical lender to open our doors for new loan transactions in 2011, ahead of the curve,” said Jon S. Wright, president and CEO of Access Point Financial.

 “Our focus has always been as a lender only, with no interest in hotel ownership or management, which enhances our relationships with borrowers.  The last thing we want is to foreclose and/or replace management of an asset.

“This was a welcome respite from exclusively overseeing and successfully liquidating our nearly $2 billion loan portfolio assembled from 2005-2008,” he noted.  “We concentrated on servicing our loans from 2009-2011, resulting in a current pay rate of 98.5 percent due to the strength and expertise of our client base and stringent risk management.  Because we work only with experienced owners and top tier brands, we historically have enjoyed a solid credit rating.”

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

Jerry Daly
(703) 435-6293