Construction Completed On LEED-Designed L.A. County Martin Luther King, Jr. Center for Public Health

Los Angeles, CA (Oct. 7, 2011) – The design/build team of McCarthy Building Companies, Inc., and TAYLOR recently completed construction of the $20-million Martin Luther King, Jr. Center for Public Health (top left photo), located on the north end of the Martin Luther King, Jr. Medical Center Campus in Los Angeles.

The new building replaces the existing South Health Center which was originally constructed in the 1950s.  The first building to kick off the community redevelopment plan in the Willowbrook area, the new center will provide an additional 12,000 square feet of space for public health programs and services once it opens during a formal ribbon cutting ceremony on October 7, 2011. 

Designed to engage the local community, the form and materials of the MLK Public Health Center are welcoming.

 “Recognizing the important role that the clinic is destined to play in the revival of the entire district and in the health and wellbeing of the local residents, we conceived the building as a beacon — a source of guidance, help and inspiration,” said TAYLOR project designer and manager, Harbans Ghatoade (lower right photo).

Project consultants involved in the Martin Luther King, Jr. Center for Public Health project included KPFF for structural and civil engineering, GLUMAC for mechanical and electrical engineering and American Landscape as the landscape architect.

More information about  McCarthy and Taylor is available online at www.mccarthy.com and www.TAA1.com

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

  Laura Mickelson for McCarthy Building Companies

O: (949) 453-0851 or C: (949) 295-4452 / LauraMickelson@cox.net

or

Nancy Egan for Taylor, (310) 943-7194 / egan@newvoodou.com

African Animals at Lakefront Ranch near Lake Nona Medical City Create International Web Sensation

ORLANDO, FL. --- A 40 acre lakefront ranch for sale in Osceola County south of Lake Nona Medical City that includes zebras, Ankole-Watusi cattle, water buffalo and miniature donkeys along with horses has started an international web sensation for Orlando based Stirling Sotheby’s International Realty.  

The property, listed for sale at $4.25 million, received significant international exposure as it was featured in the International Herald Tribune through its affiliation with Sotheby’s International Realty who also featured the property on its web site home page.

 Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said the exposure on the multiple sites garnered more than 15,000 views worldwide during the month of September.

Stirling Sotheby’s International Realty serves as the exclusive brokers for the property, which includes 1,224 feet of lake frontage on Lake Lizzie, part of a Chain of Lakes.

Dan Natoli (top right photo), International Luxury Home Specialist with Stirling Sotheby’s International Realty represents the award winning Spanish Mediterranean estate with 8,863 square feet of living space in the main house built in 2007.

 The property, which also features a waterside gazebo and private dock with jet-ski and boat lifts, is beautifully landscaped and fenced for pastures and corrals, according to Natoli.

A gourmet kitchen opens on the family entertainment area with views of a resort style pergola and tropical pool with splash pad, waterfall, water slide and stone bridge that is surrounded by lush tropical landscaping.

To see a brochure and video on the property, http://www.stirlingsir.com/eflyers/agents/lrteam/lr-team-bro.html

 “In addition to the main estate home the property includes a private pond with fishing pier, stable master’s suite and a spacious caretaker’s residence that could also be used as an in-law residence or guest house,” Natoli said.

The property has future development potential for lakefront lots, he added.

Media contact information:

 Dan Natoli, Sales Executive, LR Team Stirling Sotheby’s International Realty  407-864-0604

Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890; rsoderstrom@stirlingSIR.com;

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142   Lvershelco@aol.com.  

Forest City Announces Agreement and Closing for Southern Group Air Force Bases

 CLEVELAND, OH, Oct. 7, 2011 /PRNewswire/ -- Forest City Enterprises, Inc. (NYSE: FCEA and FCEB) announced today that a subsidiary, Forest City Military Communities, and the U.S. Air Force, through the Air Force Center for Engineering and the Environment, have signed a 50-year housing privatization agreement for the development and management of 2,185 family homes at four U.S. Air Force bases in the Southeast, bringing Forest City's military housing portfolio to more than 14,000 homes. 

As a part of the agreement and closing, Forest City will be managing an initial development period, valued at $308.1 million, for the construction of new family housing and community amenities. Forest City will also earn an on-going fee as a part of the Company's 50-year property management responsibility.

 The bases, collectively known as the Southern Group, are Joint Base Charleston in S.C.; Shaw Air Force Base in Sumter, S.C.; Keesler Air Force Base in Biloxi, Miss.; and Arnold Air Force Base in Tullahoma, Tenn. 

Construction at all four bases is anticipated to begin by early November and to last between 14 to 49 months, depending upon the base. 

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

Robert O'Brien, Executive Vice President - Chief Financial Officer, or Jeff Linton, Senior Vice President - Corporate Communication, +1-216-621-6060

Web Site: http://www.forestcity.net/

Prudential Mortgage Capital Taps Marcus & Millichap to Market $13.9 Million Multi-Family Asset in Chandler, AZ

 CHANDLER, AZ – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has been retained to sell Chandler Meadows (top left photo), a 200-unit apartment community located in Chandler.

Offered at a list price of $13.9 million, the property will be sold free and clear of any existing debt and can be purchased on an all-cash basis.

Cliff David and Steve Gebing, multifamily investment specialists in Marcus & Millichap’s Phoenix office, have been retained to market the property on behalf of the seller, Prudential Mortgage Capital Co.

“Chandler Meadows is a great opportunity to acquire a real estate-owned asset located adjacent to the Arizona State University Research Park (bottom left photo), a vibrant corporate community,” says David.

“The 324-acre park is one of the most highly improved business and industrial parks in Greater Phoenix and is home to more than 30 research and development companies, including corporate and regional headquarters and more than 3,000 employees.”

Located at 3175 North Price Road, Chandler Meadows was developed by A.G. Spanos Cos. in 1983 and offers five floor plans comprised of one-, two- and three-bedroom apartment homes. Exterior renovations were completed in 2007 and approximately 50 percent of the apartment interiors were upgraded in 2007-2008. Approximately $3.4 million was spent on upgrades during that time.

 “Chandler has a young, well-educated population,” adds David. “More than 34 percent of its residents have earned a bachelor’s degree or a graduate degree. This desirable demographic contributes to a highly qualified employment base and helps make Chandler a desirable location for multifamily investment,” David concludes.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

Foreclosure Actions On Rise Year After 'Robo-Signers' First Surfaced

MIAMI, FL --For the first time since the "robo-signer" controversy surfaced a year ago in September 2010, lenders are once again filing an increasing number of foreclosure actions - or Lis Pendens - in the tricounty South Florida region, according to a new report from CondoVultures.com.

More than 9,700 notices of default – the first step in the foreclosure process – have been filed against properties in Miami-Dade, Broward, and Palm Beach counties in the third quarter of 2011, according to an analysis based on the Condo Vultures® Foreclosure Database™.

 In previous quarters, 8,900 filings were initiated in the fourth quarter of 2010, 6,800 actions in the first quarter of 2011, and less than 7,200 in the second quarter of 2011, according to the report based on Lis Pendens filings recorded with the Clerks of the Court in all three South Florida counties.

Compare this to the third quarter of 2010 when more than 13,900 foreclosure actions were filed just as the “foreclosure freeze” was starting to make national headlines with allegations of “foreclosure mills” operating in South Florida. 

  

“The lenders are going back to work when it comes to foreclosure filings,” said Peter Zalewski, a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

 “For several months, lenders were riding the brakes as they examined their internal policies and procedures related to the repossession process. A year later, the banks appear poised to up shift into a higher gear as it pertains to initiating foreclosure actions against borrowers in default in South Florida."

 

Peter Zalewski of Condo Vultures® can be reached at 800-750-0517 or by email at peter@condovultures.com

Celebration Golf Club in Orlando, FL to host Veteran’s Day Golf Tourney; Swearing in of New U.S. Citizens

ORLANDO, FL --- Celebration Golf Club south of Orlando near Walt Disney World will host a unique event on Veteran’s Day Nov. 11 – a charity golf tournament followed by the swearing in of new American citizens.

Gene Garrote, president of Celebration Golf Management, said the event is sure to tug at the emotions.

“The golf tournament is sponsored by the Combined Federal Campaign, comprised of federal civilian, postal, and military employee donors that raises millions of dollars annually for charitable organizations throughout the world.” Garrote explained.

Many Federal Government Agencies from Central Florida will participate in the tournament, Garrote said, and the proceeds will benefit the Wounded Warrior Project, a non-profit organization that aids severely injured service men and women.

Garrote said this year’s event will include a special feature: the naturalization of U.S. Service members who have served their adopted country. U.S. Immigration law provides for the naturalization of immigrants who serve in the armed forces.

“This is really an honor for us at Celebration Golf Club,” Garrote said.

Since September 2001, U.S. Citizenship and Immigration Services has naturalized more than 64,000 servicemen and women, including those serving in Iraq and Afghanistan. The service members will take the Oath of Allegiance becoming the newest American citizens.

For information on participating, sponsorship opportunities or donations please contact the Combined Federal Campaign at three.cfc3@hfuw.org or call (407) 237-8810

 For more information, contact:  

Gene Garrote, President, Celebration Golf Management, 407-566-1045;  

Dorothy Benson, Sales and Marketing Celebration Golf Management, 407-566-1045 x4613

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142  

Marriott International Reports Third Quarter 2011 Results

 BETHESDA, Md., Oct. 5, 2011 /PRNewswire/ --Third-quarter Highlights:

    --  Adjusted diluted earnings per share (EPS) totaled $0.29, a 32 percent

        increase over prior year results;

  --  Worldwide comparable systemwide revenue per available room (REVPAR) rose  8.7 percent using actual dollars.  Average daily rate rose 5.3 percent

        using actual dollars;

   

    --  At the end of the third quarter, the company's worldwide pipeline of

        hotels under construction, awaiting conversion or approved for

        development increased to more than 105,000 rooms, including over 47,000

        rooms outside North America and more than 26,000 rooms in Asia;

    --  Nearly 6,000 rooms were added to the worldwide lodging portfolio during

        the third quarter, including approximately 3,000 rooms in international

        markets and nearly 1,100 rooms converting from competitor brands;

    --  Marriott repurchased 18.0 million shares of the company's common stock

        for $550 million during the quarter.  Year-to-date through September 9,

        2011, the company repurchased 36.5 million shares for $1.2 billion.

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

Tom Marder, +1-301-380-2553, thomas.marder@marriott.com

Web Site: http://www.marriott.com/

Essex Realty Group Brokers Sale of 29-Unit Multi-Family Building in Chicago, IL

CHICAGO, IL, Oct. 7, 2011--Essex Realty Group, Inc. is pleased to announce the sale 29 unit vintage walk-up style apartment building in the historic South Shore neighborhood of Chicago, Illinois.

6949 S. Paxton (top left photo) is located just two blocks from Lake Michigan and within walking distance of the intersection of 71st Street and Jeffery, the premiere commercial hub of South Shore.

The property consists of 19 one-bedroom, 7 two-bedroom and 3 four-bedroom units.

Doug Imber, Bob O’Connell, Jim Darrow and Jordan Gottlieb of Essex were the brokers in the transaction. The price was approximately $875,000.

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

Contact: Douglas S. Imber, Essex Realty Group, Inc., 773.305.4902
dougimber@essexrealtygroup.com