Sunday, January 18, 2015

RealtyTrac’s Homefacts Offers Free App That Helps Homeowners and Homebuyers to Research Property Information, Including Environmental Risks, School Ratings, Registered Sex Offenders, and More



IRVINE, CA — Homefacts® (www.homefacts.com), a pioneer in providing neighborhood data and statistics, announced the launch of a new mobile app for Android.

Homefacts is a wholly-owned subsidiary of RealtyTrac, the leading source of comprehensive housing data.   

Following the success of the Homefacts iPhone app in July, Android device owners now have an app of their own that enables homebuyers, homeowners and renters to view detailed property and neighborhood information and statistics on more than 100 million homes in the United States.


Homefacts provides important information and key statistics on more than 30 local and neighborhood data sets for residential properties nationwide including detailed local school information, location and details of environmental hazards such as underground storage tanks, spills, EPA polluters, brownfields, and superfunds, along with former drug labs, sex offenders, natural hazard risk and building permit activity in a neighborhood.

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

Ginny Walker
949.502.8300 ext. 268

RealtyTrac Finds U.S. Foreclosure Starts Increase to 17-Month High in December; Average Time to Foreclose Nationwide Decreases For First Time Since Q1 2011


IRVINE, CA –  RealtyTrac® (www.realtytrac.com), the nation�fs leading source for comprehensive housing data, released its Year-End 2014 U.S. Foreclosure Market Report™, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 1,117,426 U.S. properties in 2014, down 18 percent from 2013 and down 61 percent from the peak of 2,871,891 properties with foreclosure filings in 2010.

The 1.1 million properties with foreclosure filings in 2014 was the lowest annual total since 2006, when there were 717,522 properties with foreclosure filings nationwide.

The report also shows that 0.85 percent of all U.S. housing units (one in every 118) had at least one foreclosure filing in 2014, the first time since 2006 that the annual foreclosure rate has been below 1 percent of all housing units.


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

Jennifer Von Pohlmann
949.502.8300, ext. 139


Mortgage Bankers Association Reports Commercial Mortgage Lenders Anticipate Growth in 2015


Jamie Woodwell
WASHINGTON, DC – Commercial and multifamily mortgage lending is expected to increase in 2015, as lenders’ appetites to place new loans remains very strong and borrowers’ appetites to borrow increase, according to a new Mortgage Bankers Association survey of the top commercial and multifamily mortgage origination firms.

  A full 100 percent of the top firms expect originations to increase in 2015, with 68 percent expecting an increase of 5 percent or more.  Almost three quarters (72 percent) expect their own firm’s originations to increase by 5 percent or more.

“Commercial mortgage lenders anticipate another competitive year in 2015,” said Jamie Woodwell, MBA’s Vice President for Commercial Real Estate Research.  “Lenders’ appetites for loans remain very strong, and with the 10 year loans made during 2005, 2006 and 2007 maturing, lenders also anticipate growing demand from borrowers.”

Majorities of respondents expect originations for every major investor group to increase.  83 percent anticipate a “very strong” appetite among firms to make loans and 50 percent anticipate a “very strong” appetite among borrowers to take out loans.  Lenders were surveyed on a scale of “very weak, weak, fair, strong, or very strong.”


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

Ali Ahmad
(202) 557-2727


National Retail Properties, Inc. Declares Common Dividend

  
ORLANDO, FL /PRNewswire/ -- The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a quarterly dividend of 42 cents per share payable February 17, 2015 to common shareholders of record on January 30, 2015. 

 National Retail Properties is one of only four publicly traded REITs and 99 publicly traded companies in America to have increased annual dividends for 25 or more consecutive years.
National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.  

As of September 30, 2014, the company owned 2,038 Investment Properties in 47 states with a gross leasable area of approximately 22.1 million square feet.  For more information on the company, visitwww.nnnreit.com.

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

investorrelations@nnnreit.com

Regency Centers Announces Pricing of Common Stock Offering



JACKSONVILLE, FL --(BUSINESS WIRE)-- Regency Centers Corporation (“Regency” or the “Company”; NYSE:REG) announced the pricing of an underwritten public offering of 2,500,000 shares of its common stock in connection with the forward sale agreement described below, which will result in approximately $168.5 million of gross proceeds (assuming such forward sale agreement is physically settled based on the offer price to the public of $67.40, as described more fully below), before any underwriting discount and offering expenses.

The Company also granted the underwriter a 30-day option to purchase up to 375,000 additional shares of its common stock.

The offering is being made pursuant to the Company’s effective shelf registration statement and prospectus filed by Regency with the Securities and Exchange Commission. Wells Fargo Securities is acting as sole manager for the offering.

The offering is expected to close on January 21, 2015.
  
For a complete copy of the company’s news release, please contact:

Regency Centers Corporation
Patrick Johnson, 904-598-7422


Post Properties Announces Estimated Income Tax Characteristics of 2014 Dividends


ATLANTA, GA --(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS) announced how it expects its 2014 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, 2015 is taxable in year 2015. 

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

Savannah Apartments Sale for $803,000 in St. Petersburg, FL Brokered by Marcus & Millichap

  
Savannah Apartments, 5401 1st Avenue South, St. Petersburg, FL

  
Ari Ravi

ST. PETERSBURG, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Savannah Apartments, a 19-unit garden apartment community located in St. Petersburg, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $803,000.

Casey Babb, CCIM and vice president investments and Ari Ravi, associate in Marcus & Millichap’s Tampa office, represented both parties in this transaction.

Savannah Apartments are located at 5401 1st Avenue South in St. Petersburg, Fla.  This is a Class “B+” community that was built in 1966.

  The property is well-kept and fully stabilized after receiving over $150,000 in renovations in 2010 and an additional $60,000 between 2011 and 2014.

“We’ve been in a seller’s market for a few years now, but there are still attractive real estate deals to be had and Savannah was a prime example,” says Babb.  “The property is very well kept and was fully-stabilized at the time of sale, so it will cash-flow day 1 with management upside.”

“The buyer beat out a host of other bidders because he was offering all-cash, a short inspection period and a 30-day close which was attractive to the seller, who in-turn accomplished his goal of exiting the Pinellas County market,” adds Ravi.

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


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

Marcus & Millichap Arranges Sale of Cedar Hollow Apartments in Pinellas Park, FL for $2 Million

   
Casey Babb
PINELLAS PARK, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Cedar Hollow Apartments, a 42-unit apartment community located in Pinellas Park, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

The $2,040,000 sales price equates to $48,571 per unit.

  Casey Babb, CCIM and vice president investments in Marcus & Millichap’s Tampa office secured and represented the buyer, a limited liability company based in Tel Aviv, Israel.

Cedar Hollow Apartments was built in the mid-1980s and consists of an attractive mix of one and two-bedroom apartments on 2.54 acres. The property was 88 percent occupied at the time of sale and closed at a proforma 9.26 percent cap rate.

“Cedar Hollow was purchased all-cash after a short contingency period and closed in under 30 days to an international investor who is making his first investment in our market,” says Babb.

“International investors continue to seek the stability that comes with U.S. Real Estate, and in the case of Cedar Hollow, the asset should produce double-digit returns and predictable cash-flows with long-term asset appreciation,” concludes Babb. 

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





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

$15.2 Million Kroger-Anchored Shopping Center Sale Arranged by Marcus & Millichap in Westland, MI

  
Westland Marketplace, Westland, MI
 WESTLAND, MI – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Cherry Hill Marketplace, a 120,568-square-foot shopping center in Westland, Mich. 

The $15,234,000 sales price equates to $126 per square foot.

At the time of the sale, the retail real estate investment asset was 84 percent occupied by a number of national tenants, including Kroger and Kroger Fuel, CVS, Ace Hardware, Advance America, Great Clips and H&R Block. 

Steven J. Siegel
Kroger has 12 years and six five-year renewal options on its current lease. The property has 684 parking spaces and 814 feet of frontage on Merriman Road.

Steven J. Siegel, first vice president investments in the firm’s Manhattan office, along with Simon Jonna, vice president investments, and Ashish Vakhariya, vice president investments, both in Marcus & Millichap’s Detroit office, exclusively represented the institutional seller. Siegel, Jonna and Vakhariya procured the buyer, also an institution.

“The center’s 21,000 square feet of vacant space create a substantial amount of potential upside for the new owner,” says Siegel.

 “Kroger completed a major store renovation in 2000 and later added the fuel site,” notes Vakhariya.


Ashish Vakhariya
“The grocery element of this type of asset tends to garner a sizeable following from the open market,” adds Jonna. “Consequently, Cherry Hill Marketplace received a multitude of offers from both private and institutional investors.”

Built in 1992 on approximately 1.4 acres, Cherry Hill Marketplace is located at 124-210 South Merriman Road in Westland. The traffic count is approximately 30,000 cars per day.


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

Gina Relva
Public Relations Manager                                              
(925) 953-1716

IPA Sells Broward County, FL Multifamily Asset


The Cove at Parrot's Landing, 7575 Hampton Boulevard, North Lauderdale, FL

Still Hunter III

                                                                                        NORTH LAUDERDALE, FL --  Institutional Property Advisors (IPA), a division of Marcus & Millichap Inc. specializing in serving institutional and major private real estate investors, is pleased to announce the sale of  The Cove at Parrot’s Landing, a 152-unit luxury multifamily community located in the central Broward County city of North Lauderdale, Fla.

 The terms of the sale were not released.

            IPA senior director Still Hunter III represented the seller, Brass Enterprises. The buyer is CFH Group.

           “The Cove at Parrot’s Landing is an excellent value-add investment opportunity due to its high-quality 1997-vintage construction, attractive lakefront setting and ideal mix of one-, two- and three-bedroom apartments,” says Hunter.

“The new owner plans to reposition the community by reconfiguring and updating the clubhouse and other common areas and enhancing the amenity package. Further revenue enhancement opportunities exist via minor aesthetic improvements and upgrades to apartment interiors, the vast majority of which have original finishes.”

            Located at 7575 Hampton Blvd. in North Lauderdale, the property provides convenient access to the largest employment centers in Broward County from four of the busiest transportation corridors in South Florida: 

Florida’s Turnpike, U.S. Route 441, University Drive and West McNab Road. North Lauderdale Elementary School, Silver Lakes Middle School and a new Walmart Super Center and Publix Supermarket are less than one-half mile from the community. 

Coconut Creek High School is five miles away.

            Apartments at The Cove at Parrot’s Landing include separate laundry rooms with full-size washer and dryer, walk-in closets, track lighting and balconies with storage closets.

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

Gina Relva
Public Relations Manager                                              
(925) 953-1716