Tuesday, July 7, 2020

Trez Capital Announces New High-Yield Fund and Re-opens Temporarily Paused Prime Trust and Yield Fund


Daniel Marchand
Dallas, TX -Trez Capital announced the launch of the Trez Capital High Yield #1 (2020) Fund (High Yield Fund) following a successful first close. 

The fund remains open for investment until December 31st to a maximum of $100 million.

The new fund enables investors to share in a portfolio of loans that will target net returns in excess of 10% per annum in a portfolio of senior ranking mortgages.

 It will focus on real estate projects in U.S. markets with higher than average population and GDP growth. The first investments will be for single-family lot development financings in Texas, a state experiencing job growth and strong demand for affordable housing.

“The housing market in the Southwest U.S. is particularly strong and with interest rates at record lows, buyers in this region are motivated to purchase homes,” said Daniel Marchand, Senior Vice President and Head of Investor Global Sales.

“While traditional real estate lenders have substantially halted lending given the pandemic, Trez Capital, through its High Yield Fund, has capitalized on the current market disruption to lend to high quality proven borrowers in established housing projects.”

In addition, Trez Capital will re-open Trez Capital Prime Trust and Trez Capital Yield Trust to limited redemptions. The funds were temporarily paused due to the pandemic.

Morley Greene
Despite the substantial disruption in the commercial real estate industry caused by COVID-19, the firm has maintained distributions across all funds with no delays or reductions.

Trez Capital’s stability over the past few months is a result of our prudent risk management and deep industry knowledge and expertise,” says Morley Greene, Chairman and Chief Executive Officer.

 “We have always placed the interests of our investors first and foremost.

"During the unprecedented economic impact caused by the novel coronavirus our best-in-class origination and underwriting capabilities and our partnerships with leading developers were put to the ultimate test and resulted in stability in a time of uncertainty.”

CONTACT:

BoardroomPR
Eric Kalis

Todd Templin
954-370-8999


Monday, July 6, 2020

$11.6 Million Sale Opportunity Hits the Market in Wynwood, FL

Quinn Sousa
Ryan Shaw
MIAMI, FL, July 6, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the exclusive listing two Wynwood Properties 2010 & 2019 NW 1st Ct, 15,900 and 13,715 square feet of land respectively, located in Miami, FL, according to Scott Lunine, Regional Manager of the firm’s Miami office.
The asset is listed for $11,610,000.

Ryan Shaw First Vice President, Jose Fernandez and  Quinn Sousa, investment specialists in Marcus & Millichap’s Miami office, has the exclusive listing to market the property on behalf of the seller, a limited liability company.  

Jose Fernandez
“These two properties are located on the south end of Wynwood where there has been a lot of recent activity with popular places like Astra Rooftop that has opened a block from the property and tech company ROKK3R Inc.

 "Developers Related just purchased two blocks east on Miami Ave and Sarkis Izmirlian, the developer of Baha Mar in Bahamas who purchased property on 20th Street just west of the subject in December last year,” says Shaw

Wynwood Properties is located at 2010 and 2019 NW 1st Ct in Miami, FL.  The properties are 15,900 and 13,715 square feet respectively.

Sarkis Izmirlian
The zoning is T6-8-O and T-5 with Wynwood overlay of NRD-1. The properties can fit a total of 101 residential units or 202 hotels between the two properties.

CONTACT:

Scott Lunine
Vice President / Regional Manager, Miami
(786) 522-7000

Marcus & Millichap's Issenberg Britti Group Arranges $6.5 Million Sale of 7-Eleven Site in Venice, FL


Ronnie Issenberg

VENICE , FL, – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of 7-Eleven, a 3,010 SF convenience store on a large 1.8 acre parcel just off I-75, net-leased property located in Venice , FL, according to Scott Lunine, Regional Manager of the firm’s Miami office.

The asset sold for $6,513,026.

Gabriel Britti
Gabriel Britti, Kevin O'Hanlon and Ronnie Issenberg, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  

The buyer, an individual/personal trust, was secured and represented by Jerry Swon, investment specialists in Marcus & Millichap’s Manhattan office.
 Kevin O'Hanlon

This was a newly constructed 7 Eleven with a 15 year absolute net lease that opened days before the closing. 

Jerry Swon
The property showed the strong interest of New York Investors seeking credit tenant, leased assets in Florida while taking advantage of the no-state income taxes, says Issenberg.



7-Eleven is located at 2751 N. River Road in Venice, FL.


CONTACT:

Scott Lunine
Vice President 
Regional Manager, Miami
(786) 522-7000

SG Blocks Wins $4 Million Hospitality Manufacturing Contract in South Florida


Paul M. Galvin

BROOKLYN, N.Y.--(BUSINESS WIRE)--SG Blocks, Inc. (NASDAQ:SGBX), a leading designer, fabricator and innovator of container-based structures, announced it has executed a $4.0 million contract to manufacture a boutique, mixed-use hospitality project with a leading Florida-based general contractor.

Located amongst the Everglades, plans for the development feature 24 hospitality units to be made available for guests, as well as a dining component all centered around a most beautiful setting.

 The contract is expected to commence in August 2020 and to be completed in the first quarter of 2021.



 “The design and location of the project are ideal for eco-chic hurricane resistant hospitality units," said SG Blocks Chairman & CEO Paul M. Galvin.
"Our International Code Council approved containers create quite comfortable interiors while being fully resilient for life in coastal areas."

CONTACTS:

James Carbonara
 Regional Vice President
tel: 646-755-7412
cell: 917-340-1339

Brett Maas
 Managing Partner
tel: 646-536-7331
cell: 480-861-2425
email:

Hayden IR
10 Times Square at 1441 Broadway
Suite 5013
New York, NY 10018


Proper Title, LLC, Promotes Kathy Kwak To Executive Vice President, Hires Zjacobe Snyder As Senior Escrow Officer

                                                                                     
 Kathy Kwak

CHICAGO, IL – Proper Title, LLC, the Palatine, Ill.-based title insurance agency serving the residential and commercial real estate industries,  announced it has promoted Kathy Kwak to executive vice president of operations and counsel. 

Kwak will be responsible for managing Proper Title’s processing, closing and overall operations. The firm has also hired Zjacobe (“Cobe”) Snyder as senior escrow officer in its Loop office.

Joni Meyerowitz

“Kathy has done an outstanding job over the years in building trusted relationships with our attorney clients while also fostering a collaborative culture among staff through a team-management style that employees respond positively to,” said Joni Meyerowitz, chief executive officer of Proper Title. 

“Her leadership and vision have successfully guided Proper Title to being a leader in our industry during the pandemic by quickly adopting new protocols to offer safe and creative closing processes, and her passion for excellent customer service will help position the firm for continued growth. 

"Kathy’s experience on all sides of a real estate transaction also brings a unique perspective for managing risk on any title insurance issue.”




Kwak has been a part of the real estate industry as an attorney or as an underwriting counsel for the past 14 years, with seven years dedicated to the title insurance industry. 

She joined Proper Title in 2017, rising from director of title to vice president to her new role as executive vice president. Prior to joining Proper Title, Kwak served as underwriting counsel for Near North Title Group and First American Title Insurance Co. 

Before entering the title industry, she was a senior real estate advisor for the Board of Education of the city of Chicago.

“It’s an honor to lead a title agency with such an entrepreneurial spirit, especially now,” said Kwak. “We swiftly adapted when the stay-at-home order began by offering curbside closings and remote notarizations so we could continue serving our clients with the same level of care and attention while social distancing. 



"In addition to these changes, we also were lucky to find and hire Cobe, who is bringing her enthusiasm and attention to detail to our Loop office.”

A 25-year veteran of the title insurance industry, Snyder will focus on continuing the growth of Proper Title’s Loop business as a senior escrow officer. 

Prior to joining Proper Title, she spent 12 years as an escrow officer at Fidelity National Title Insurance Co., where she finalized the purchasing and refinancing of residential and commercial properties. 

Snyder also worked as a closing officer for City Suburban Title Insurance, Prudential Preferred Properties and First American Title Insurance Co.

“Cobe’s depth of experience and her dedication to customer care ensure smooth closings and no surprises,” said Kwak. “We’re thrilled to bring someone on board who is so skilled in complex closings, especially as we rapidly grow our downtown presence.”

Proper Title has 10 closing offices throughout the Chicago area, including suburban locations in Palatine, Northbrook, Libertyville, Park Ridge, Oak Brook, Naperville and St. Charles, as well as closing locations in Chicago’s Loop, Bucktown and Irving Park neighborhoods. The title company also offers remote closings to attorney clients.


CONTACTS: 

Paula Widholm, pwidholm@taylorjohnson.com, (312) 267-4525
Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

Yankees Bad Boy Billy Martin’s Lake House in Fenton, NY on Auction


Billy Martin
FENTON, NY -- He managed the New York Yankees five times, but a bad temper, notorious bar fights, arguments with teammates and late nights got him fired four times. 

 Billy Martin was baseball’s bad boy throughout most of his 11-year playing career and 16 more years in management.

The only person he ever allowed to control him was the demanding Yankees-owner George Steinbrenner, according to TopTenRealEstateDeals.com.

 George Steinbrenner
 Martin’s wild reputation, womanizing and fights always followed him, but he loved the Yankees so much that he would take anything from Steinbrenner to stay on the team.

His life ended as dramatically as he lived it when he was killed on Christmas Day, 1989 as a passenger in his own truck at the foot of his own driveway.

Copacabana Night Club, New York City
 The truck was driven by a drunk friend in Upstate New York where Billy lived in a luxurious lake house.  Now for sale, the home and its 84 acres is currently at auction with bids starting at $500,000.  The auction ends on July 27th.

A multi-skilled player, Martin’s defensive skills saved the 1952 World Series for the Yankees and he was the hitting star and MVP of the 1953 Series. 

 The next two years were spent as a draftee in the Army and when he returned, it seemed he had lost his edge.  In 1957, the Yankees traded Martin after a much publicized brawl at New York’s Copacabana nightclub.


 Mickey Mantle 
 After the Yankees, Martin bounced through a few teams as a part-time player, scout and manager of the Minnesota Twins, Detroit Tigers and Texas Rangers. Despite managerial success with all three teams, Martin’s quick temper soon got him fired. 

After Martin was fired by the Tigers in 1975, he was named manager of the Yankees, beginning a reign of firings and rehirings by Steinbrenner that became legendary. 

In addition to his temper, Martin was known for his self-indulgence which also played out in his home lifestyle.  Built in 1960 outside the town of Fenton, the lake house was Martin’s escape from the stresses of baseball competition - a quiet place where he could enjoy the tree-filled views over his 8-acre lake.

Michael R. Franklin 
With an overall 5187 square feet, the brick home has four bedrooms and four baths, a large office, a living room fireplace as well as fireplaces in the master suite, and a bedroom suite named for Mickey Mantle - one of his closest friends. 

The house is designed to maximize lake views with multiple decks, walls of glass and large windows.   The lower floor houses a bedroom, bath and kitchen with laundry.  Outside is an 1,120-square-foot barn and the forested grounds include wildflower meadows and the lake.

Michael DeRosa
The Upstate New York home is currently accepting bids starting at $500,000 with 10% buyer’s premium.

The listing brokers are Michael R. Franklin of Franklin Ruttan Unique Property Specialists Syracuse, NY and Michael DeRosa of Michael DeRosa Exchange LLC. New York, NY.  Bidding ends July 27th.


 CONTACT:

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504

Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

Photo of homes by Michael Franklin


 CONTACT:

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504

Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

Saturday, July 4, 2020

Historic Le Petit Trianon Mansion Survived 1906 San Francisco Earthquake for Sale at $21.8 Million


Modeled after King Louis XV’s Petit Trianon on the grounds of the Palace of Versailles, San Francisco’s Le Petit Trianon
is now for sale at $21.8 million.

Photo credit:  Coldwell Banker
NOB HILL, SAN FRANCISCO, CA -- San Francisco lost most of its buildings in the 1906 earthquake and fire that destroyed 80% of the town. However two of the city’s grand mansions did survive.  

The James C. Flood Mansion, built for a silver baron in 1885 out of brownstone and mortar, was the only mansion on Nob Hill that survived the earthquake.


Julia Roberts 

Soon after the quake, it was purchased by the Pacific-Union Club and still operates today as one of the country’s most exclusive men’s clubs.  

 Le Petit Trianon in the Presidio Heights neighborhood, built between 1902 and 1904 out of brick and sandstone, also survived the disaster. 

Modeled after King Louis XV’s Petit Trianon on the grounds of the Palace of Versailles, San Francisco’s Le Petit Trianon is now for sale at $21.8 million.

The neighborhood attracts many Silicon Valley executives who seek the peace and quiet of an elegant, long established and more permanent living environment.  Its most famous celebrity is Julia Roberts who bought a Victorian home there in 2020 for $8.3 million.


Corinne Koshland 
(Courtesy geni.com)
Designated as a historic landmark both for the city and the nation, Le Petit Trianon was built for Marcus and Corinne Koshland after they visited Versailles on their European grand tour in 1900.  

Marcus was heir to Koshland Brothers, a company in the import-export wool, hides and fur trade businesses.  Corinne was a founder of the San Francisco Symphony Association and one of the first directors of the San Francisco Opera Company.  


Marcus Koshland 
She used the mansion’s rotunda, with its perfect acoustics, to present concerts with a wide variety of music ranging from opera to violin and piano by guest musicians such as Igor Stravinsky, Jascha Heifitz, and Leonard Bernstein. Almost a hundred guests could be seated on the home’s wide stairs and in its lobby, according to TopTenRealEstateDeals.com.

Built on three levels with views of the city and San Francisco Bay, the 17,895-square-foot home has a total of 20 rooms including nine bedrooms and nine baths.  

There are two kitchens, two wet bars and a large butler’s pantry.  Nine fireplaces, each of different character, are found throughout adding to the romance of the home. 


 Leonard Bernstein
Other rooms included a ballroom-turned-elegant nightclub, media room, formal living and dining rooms, reception room, library, family room, two home offices, den, breakfast room and gardening room with delightful bug wallpaper guaranteed to bring a smile. 


Jascha Heifitz

 All main rooms branch off from a grand central atrium spilling light through its stained glass ceiling.  Outside there is a two-car garage and parking for six-to-eight cars in the cobblestone driveway.  Beautifully landscaped, private French gardens are perfect for entertaining or alfresco dining. 


Igor Stravinsky

Presidio Heights is one of San Francisco’s wealthiest neighborhoods, located away from the hustle and bustle of San Francisco’s downtown and tourism areas.  Mostly a residential area of impressive homes, it is just a few blocks to some of the city’s best parks, luxury shopping and fine dining. 

Joel Goodrich

Le Petit Trianon, chosen twice as the setting for the annual San Francisco Decorator Showcase, is priced at $21.8 million and listed by Joel Goodrich, Coldwell Banker, San Francisco, California.


 CONTACT:

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504

Twitter:  @toptenrealestat
facebook.com/toptenrealestat