Trepp January Payoff Report: Percentage of Loans Paying at Maturity Jumps to Second Highest Reading in Last Four Years

NEW YORK, NY -- According to the Trepp January Payoff Report, the percentage of loans paying off on their balloon date has exceeded 60% for the fourth time in the last five months.

In January, 66.9% of loans reaching their balloon date paid off--an increase of more than 12 percentage points from the December reading. The total was also the second highest total over the last four years. Only September's 68.2% reading was higher.

The January rate of 66.9% is well above the 12-month moving average of 49.2%. (This number sums the averages of each month and divides by 12, there was no balance weighting across the months.)

By loan count (as opposed to balance), 62.6% of loans paid off. The 12-month rolling average on this basis is now 57.9%.

Above centered chart shows the data for the last 54 months.

 The second column shows the percentage of loans (by balance) that paid off in the month of the maturity date. The third and fourth column contain the percentages that paid off (again by balance) after three months and six months, respectively.

 (After three 3 months, the percentage of loans that payoff really starts to level off.) In the last column are the percentage of loans, by count, that paid off in the balloon month.

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

Eric R. Gerard

Senior Vice President

Great Ink Communications

27 Union Square West, Suite 205

New York, NY 10001

(212) 741-2977

Marcus & Millichap Announces Sale of 22,000-SF Industrial Building in St. Petersburg, FL

        

Luke Elliott

St. PETERSBURG, FL, Feb.  7, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of the 22,000-square foot industrial property located at 10597 Oak Street North East, in St. Petersburg, Florida, according to Richard D. Matricaria, Regional Manager of the firm’s Tampa office. The asset commanded a sales price of $599,000.

Luke Elliott, investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the local seller, a private investor and to the buyer, a limited liability company.

10597 Oak Street North East St. Petersburg, FL

“A local user was able to purchase a great facility in a good mid-county location,” says Elliott.   “This sale indicates the value that buyers see in the highly sought-after Tampa MSA.”

  

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

Richard D. Matricaria

Regional Manager, Tampa

(813) 387-4700

315 New Sunny Isles Beach Condos Unsold From South Florida Market Crash

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As Sunny Isles Beach developers proceed with plans for nearly 1,200 new condo units, the barrier island city in Northeast Miami-Dade County still has 315 condo units unsold from the last South Florida boom-and-bust cycle as of Dec. 31, 2012, according to a new report from CondoVultures.com.

Developers sold more than 30 new units for nearly $19.3 million - an average of $385 per square foot - in Sunny Isles Beach between October and December of 2012, reducing the unsold boom-era condo inventory to less than five percent of the more than 6,300 units created since 2003 in this market, according to an analysis of Miami-Dade County records.

Jade Signature Condos Rendering
Sunny Isles Beach, FL

At the 2012 sales pace, the Sunny Isles Beach could be sold out in the first half of 2014,  just as the newly proposed condo towers - such as the 400 Sunny Isles, Chateau Beach, Jade Signature, Mansions at Acqualina, Porsche Design Tower, Regalia, St. Tropez On The Bay IV and V, and Unique - are slated to launch - and in some cases complete - construction, according to the Preconstruction Condo Projects list compiled by the licensed Florida brokerage CVR Realty™.

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

Condo Vultures® LLC can be reached at 800-750-0517.

Tracy Wright Joins Marcus & Millichap Capital Corp. as Associate Director in Salt Lake City, UT

Tracy Wright

SALT LAKE CITY, Feb. 6, 2013 – Marcus & Millichap Capital Corporation (MMCC) has named Tracy Wright as an associate director in the firm’s Salt Lake City office, according to William E. Hughes, senior vice president and managing director of MMCC.

            In his new position, Wright will arrange debt financing for all types of commercial real estate assets, including multifamily, retail, and office and industrial properties.

William E. Hughes

“Tracy brings more than a decade of experience to MMCC and has helped close more than $568 million in real estate capital transactions,” says Hughes. “His network of commercial real estate relationships and proven ability to structure complex loans with low transaction expenses will empower him to serve MMCC’s Salt Lake City area clients well.”

            Wright joins MMCC with 12 years of experience processing real estate investment loans from application through closing, working closely with lenders, borrowers and outside consultants as well as legal counsel and 1031 accommodators. Most recently, he served as vice president of RealSource Commercial in Salt Lake City. He was also a commercial loan officer for Western Capital Finance in Salt Lake City.

            Wright graduated from the University of Utah, where he earned a Bachelor of Science degree in psychology, and Brigham Young University, where he earned a Master of Business Administration degree.

  

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

  

Marcus & Millichap Capital Corp.

(925) 953-1716

$9.7 Million Multifamily Sale Arranged by Marcus & Millichap

  

7400 Roosevelt Blvd. Apartments, Philadelphia, PA

 PHILADELPHIA, PA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of 7400 Roosevelt Boulevard, a 196-unit apartment property located near the intersection of Cottman Avenue and Roosevelt Boulevard in northeast Philadelphia, according to Spencer Yablon, vice president and regional manager of the firm’s Philadelphia office.

The asset commanded a sales price of $9,704,500 which translates to $49,513 per unit.

Ken Wellar

Ken Wellar and Corey Lonberger, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property for sale. Wellar and Lonberger also procured and represented the seller.

“There was tremendous investor interest in this asset because of the location, the opportunity to add value through a capital improvement program and the potential to increase rents,” says Wellar. 

“The transaction involved the assumption of an existing CMBS loan, which made buyer selection critical,” adds Lonberger. “The investor is a well-established local owner with experience assuming complex mortgages. The new owner sees terrific upside in repositioning the property,” continues Lonberger.

Corey Lonberger

“The sale was an exercise in patience- and trust-building between the buyer and seller,” Lonberger concludes. “It didn’t happen overnight, as the assumption took some time, but both parties worked steadily towards successful settlement.”

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

Spencer Yablon

Vice President/Regional Manager,

 Philadelphia

(215) 531-7000

  

NAI Realvest Negotiates Class A Office Lease to Investment Securities firm at Primera Court I in Lake Mary, FL

Mary Frances West

ORLANDO, FL --- NAI Realvest recently negotiated a new lease agreement for 1,380 square feet of Class A office space at Suite 110 Primera Court I, 725 Primera Blvd. in Lake Mary.

 Mary Frances West, CCIM senior broker associate at NAI Realvest, negotiated the transaction representing the landlord RREF Interchange-FL, Primera I, LLC, based in Daytona Beach. 

Andrei Savitsky

 The new tenant Fairway Financial LLC, a private investment securities firm, is relocating from Altamonte Springs to the Lake Mary submarket.   Fairway Financial was represented by Andrei Savitski of Coughlin Commercial.

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

Mary Frances West CCIM, NAI Realvest, 407-875-9989 mwest@realvest.com;

 Patrick Mahoney, President NAI Realvest, 407-875-9989 pmahoney@realvest.com;

 Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142 or 407-461-3780 Lvershelco@aol.com  

Solanbridge Group, Inc. Acquires 100% of the Capital Stock of David's Steak and Seafood Restaurant

CHARLOTTE, N.C., Feb. 7, 2013 /PRNewswire/ -- Solanbridge Group, Inc. (OTCPINK: SLNX) is pleased to announce that it has completed the acquisition of David's Steak and Seafood Restaurant, an upscale steak house, which presents fine dining in an elegant atmosphere in the heart of Melbourne Beach, offering guests the finest cuts of choice USDA meats, fresh seafood, and much more (http://davidssteakandseafood.com/).

 As part of the Agreement, Mr. David Green, will become the Chief Executive Officer and Director of Solanbridge Group and Mrs. Jenifer Bogosh will become President of Solanbridge Group, Inc., Mr. Charles Lance will remain on the Board of Directors with Solanbridge Group, Inc.

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

investor@solanbridge-group.org

Multi Housing Advisors Bets Big on Apartment Sector

  

Marc Robinson

 ATLANTA, GA (Feb. 7, 2013) — After a decade of operation and the brokerage of more than 60,000 apartment units, the newly renamed Multi Housing Advisors, LLC (MHA) is expanding into new markets and making significant hires.

The firm, long known as Southeast Apartment Partners, aims to capitalize on the needs of its growing client base and the current strength of the multifamily sector.

 Firm Co-Founder and Co-Managing Partner Marc Robinson recently moved from Atlanta to Charlotte to join Jordan McCarley and expand the firm’s office in the key market.

Joshua Goldfarb

In another significant move, MHA hired 20-year commercial real estate veteran Matthew Wittekiend as the firm’s chief administrative officer. Wittekiend previously was a vice president and senior business operations manager at Newmark Grubb Knight Frank. He is based in MHA’s Atlanta office. MHA has also hired four new transaction specialists and three support associates to support the growth. 

“The multifamily sector is clearly strong right now, and we believe that, with an improving job market and the re-calibrated balance of renting versus owning as well attractive financing options, it will continue to excel in the years ahead and remain highly sought-after by investors of commercial real estate,” said Co-Founder and Co-Managing Partner Joshua Goldfarb, who oversees the Atlanta office. “As the market continues to excel, we intend to open additional offices in the South and hope to be making those announcements later this year.”

Jordan McCarley

Robinson, who has a team of seven in Charlotte, said, “Building on 10 years of steady growth and nearly $2 billion in completed transactions, our recent name change and rebranding reflect our focus on enhancing our organization’s reputation as one of the leading service provider in multifamily investment sales. We’ve established a track record during the past 10 years, and now the time is right to capitalize on that.”

 In addition to its Atlanta and Charlotte locations, MHA, which has listings ranging from bank-owned assets to Class-A properties, has an office in Birmingham, Ala., and is aggressively doing deals in other southeastern markets.

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

Stephen Ursery

The Wilbert Group

E-mail: sursery@thewilbertgroup.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com

www.usmha.com

National Retail Properties Inc. Announces 2012 Operating Results and Increased 2013 Guidance

Kevin Habicht

Orlando, FL, Feb. 7, 2013 – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced operating results for the quarter and year ended December 31, 2012.

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

Kevin B. Habicht

Chief Financial Officer

(407) 265-7348 

Annaly Capital Management, Inc. Reports Results for the 4th Quarter 2012

NEW YORK, NY--(BUSINESS WIRE)-- Annaly Capital Management, Inc. (NYSE: NLY) today reported GAAP net income for the quarter ended December 31, 2012 of $700.5 million or $0.70 per average common share as compared to GAAP net income of $445.6 million or $0.46 per average common share for the quarter ended December 31, 2011, and GAAP net income of $224.8 million or $0.22 per average common share for the quarter ended September 30, 2012.

 

GAAP net income was $1.7 billion or $1.74 per average common share and $344.5 million or $0.37 per average common share for the years ended December 31, 2012 and 2011, respectively.

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

Annaly Capital Management, Inc.

Investor Relations

1-888-8Annaly

www.annaly.com

Taubman Asia and Beijing Wangfujing Department Store (Group) Co. Ltd. Announce Second Joint Venture to Co-Own and Manage an Over One-Million-SF Shopping Center in Zhengzhou, China

Wangfujing Department Store, Zhengzhou
One of the Oldest Department Stores in China

Rene Tremblay

 HONG KONG, Feb.7, 2013 - Taubman Asia today reconfirmed a joint venture between Taubman and Beijing Wangfujing Department Store (Group) Co., Ltd (Wangfujing), one of China’s largest department store chains (Shanghai Stock Exchange: 600859).

The joint venture will own and manage a shopping center to be located adjacent to two arterial roads, Nongye Road and Zhongyi West Road, in Zhengzhou, China.

 Currently under construction, the approximately 1,460,000 square feet or 135,000 square meter (GFA) shopping mall is scheduled to open by the second quarter of 2015.

This is the second retail joint venture between Taubman and Wangfujing in the Chinese market and will own a majority interest in the shopping center.

The remaining ownership of the shopping center will be held by Maple (Zhengzhou) Real Estate Development Co. Taubman and Wangfujing announced their first retail project in Xi’an in August 2012.  

This exciting development in Zhengzhou, China will represent a best-in-class retail destination, new to the city.

 The project will deliver a comprehensive shopping experience through a compelling mix of retail shops, restaurants and entertainment facilities.

The multi-level shopping center will be anchored by a Wangfujing Department Store, a supermarket, a movie cinema, children’s play area and a mix of international and local, middle to high-end brands. It will also feature an enticing mix of food and beverage experiences.

René Tremblay, president of Taubman Asia said, “We are excited to confirm our second retail project in China with Wangfujing, not long after the announcement of our first project in Xi’an. The project in Zhengzhou signifies our commitment to the Chinese market and our long-term partnership with Wangfujing.”

Ms. Liu Bing, chairwoman and president, Wangfujing, commented, “Taubman is an internationally renowned shopping mall developer and operator.

“The strategic partnership with Taubman in China resonates with our strategy to accelerate our expansion into the shopping center industry, on top of our department store business.

“Wangfujing is currently operating two department stores in Henan province with great success, including one in Zhengzhou, with annual revenue of one store exceeding one billion RMB.

“Our experience will have a positive impact on the prospects and recognition of the Zhengzhou project.”

 Contacts:

Ms Karen Mac Donald

Taubman, Director, Communications

+1 248 258 7469

kmacdonald@taubman.com

Mr Alan Hong

Weber Shandwick, Beijing

+86 10 85699850

ahong@webershandwick.com

Ms Barbara Baker

Taubman, Vice President,

Corporate Affairs &Investor Relations

+1 248 258 7367

bbaker@taubman.com

 Ms Pamela So

Weber Shandwick, Hong Kong

+852 2533 9916

pso@webershandwick.com

 Mr Zhang Jinsong

Beijing Wangfujing Department Store (Group) Co., Ltd,

+86 (0) 10 8529 1075

yth@wfj.com.cn

www.taubman.com.

www.wfj.com.cn