Saturday, June 22, 2013

NAI Realvest Negotiates sale of 109 Acres in Palm Coast, FL

Palm Coast, FL Oceanside

Kevin O'Connor
Orlando, FL--- NAI Realvest recently negotiated the sale of 109 undeveloped acres at the northeast corner of Belle Terre Parkway and Citation Blvd. in Palm Coast for $750,000.

 NAI Realvest principals Kevin O’Connor and Matt Cichocki negotiated the sale representing the buyer, MM&M Enterprises, LLC of La Jolla, Calif. 

Matt Cichocki
NAI Realvest principal Thomas E. Hankins, CCIM, SIOR, who represented seller BB&T, successor for Colonial Bank, said 60 acres of the tract is useable and designated as mixed-use residential.

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

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

NAI Realvest Negotiates Renewal Lease Agreement for 11,096 Square Feet of Office Space at The Citadel in East Orlando, FL

The Citadel, 5950 Hazeltime National Drive, Southeast Orlando, FL

ORLANDO, FL– NAI Realvest recently negotiated a renewal lease for 11,096 square feet of office space in The Citadel at 5950 Hazeltine National Drive in southeast Orlando.

Mary Frances West
 Senior Associate Mary Frances West, CCIM and principals Matt Cichocki and Kevin O’Connor, brokered the transaction on behalf of the landlord, Citadel Partners, Ltd., based in Groveland.    The tenant is Orlando-based Air Transport IT.

 NAI Realvest is exclusive management and leasing representative for the property. West leads the leasing team at The Citadel.
. For a complete copy of the company’s news release, please contact:

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

50-Acre In-Town Site Near Avalon Park and Econlockhatchee River in East Orlando, FL Hits the Market at $3.6 Million Asking Price

ORLANDO, FL--- Stirling Sotheby’s International Realty has been named exclusive sales and marketing agents for a 50-acre in town site adjacent to Avalon Park in east Orlando and less than 1,000 feet from the Econlockhatchee River, designated an Outstanding Florida Water by the Department of Environmental Protection.

Benjamin Hillman
Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said the site, located on Sunflower Trail, is being offered for $3,595,000.

“For its size, location, beauty, and proximity to the Econ River, this is a great price,” Soderstrom said.

Benjiman Hillman, International Marketing Specialist with Stirling Sotheby’s International Realty in the firm’s Dr. Phillips Marketing Center, is representing the property.

Soderstrom said the site would be perfect for a private estate, equestrian facility or investment and is minutes from the Lake Nona Medical City and downtown Orlando.

“The site is beautiful with big stands of oaks, open areas, a pond and an abundance of wildlife,” Soderstrom said.  “In the future – as the area continues to grow – this could be a prime development site.
For a complete copy of the company’s news release, please contact:

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

Ashton Woods Homes ends fiscal year with 239 home sales; 70 Percent Increase over the fiscal period last year

TAMPA, Fla. – The Tampa division of Ashton Woods Homes ended its fiscal year May 31 with 239 homes sold which is a 70 percent increase over sales in the 2012 fiscal year when only 141 homes sold.

Michael Roche
Michael Roche, vice president of sales and marketing for Ashton Woods Homes, said Ashton Woods is active in six communities in the Orlando, Tampa and Sarasota regions.

The average price of an Ashton Woods home during the period was $249,364, according to Roche.

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

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

Charles Dunn Company Completes Sale of Residential Condominium Property in West Los Angeles, CA

1409 South Westgate Ave., West Los Angeles, CA

LOS ANGELES, CA – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the sale of an eight-unit residential condominium building located north of Santa Monica Blvd. and south of Wilshire Blvd. at 1409 S. Westgate Ave. in West Los Angeles. The building was originally constructed as condominiums for sale, however the owner/developer rented the units.

Albert R. Shilton
Albert Shilton and Blake Rogers of Charles Dunn Company represented the seller, GXG Green Properties LLC from Los Angeles, as well as the buyer, a private investor who utilized a 1031 Exchange from a property sold in New York. The property was fully occupied at the close of escrow and includes one, two-bedroom/two-and-a-half bathroom unit and seven, three-bedroom/two-and-a-half bathroom units. The purchase price was not disclosed.

“The buyer saw the value in the opportunity to purchase the property based on the existing rental income, with the potential of eventually selling the units as condominiums on an individual basis for a substantial profit in the coming years as that market heats up,” said Rogers.

Blake Rogers
“This was a win-win situation for the buyer and seller,” said Shilton. “Not only should the buyer do well on the back end, but the seller was able to capitalize on the low-cap rate environment, and plans on re-deploying the capital into other development opportunities.”

Shilton and Rogers specialize in the sale of multifamily properties and land for development within Los Angeles and Orange Counties. In 2012, they closed on transactions totaling approximately $39,000,000 representing over 500 existing and future units.

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

Darcie Giacchetto
D.G. Communications, Inc.

MBA Announces Diversity and Inclusion Committee

Debra W. Still
WASHINGTON, DC – Debra W. Still, CMB, Chairman of the Mortgage Bankers Association (MBA), today announced the formation of a new member committee designed to promote diversity and inclusion both within the Association and its programs, as well as within its member firms.

“A strong, responsible, sustainable real estate finance industry requires a workforce that reflects our society at large,” said Still, CMB.  “MBA’s Diversity and Inclusion Committee will be a means for the industry’s senior executives to lead and engage in meaningful dialogs to identify, discuss and share best practices that others can incorporate into their business strategies and workforce cultures.”    

The Diversity and Inclusion Committee will report directly to the MBA Board of Directors and will be chaired by MBA’s Chairman-elect E.J. Burke

  Its membership will also include the MBA Chairman, Vice Chairman and Immediate Past Chairman, and a collection of industry executives representing MBA’s broad membership of different business models, business lines and membership categories. 

E.J. Burke
“In order to facilitate diversity and inclusion among its members, the committee will ensure that MBA itself is incorporating diversity and inclusion in all its areas of strategic focus,” said E.J. Burke, MBA’s Chairman-elect and Chairman of the Diversity and Inclusion Committee. 

“Through the sharing of best practices and developing appropriate MBA programming, the committee will encourage more inclusive cultures in our member firms and our association.  In the end, these efforts will ensure that we attract and retain the best and the brightest talent to our industry.”     
For a complete copy of the company’s news release, please contact:

(202) 557-2924

David B. Hulme Joins McCraney Property Co. as Managing Director for Central Florida Market

David B. Hulme
ORLANDO, FL and WEST PALM BEACH, FL – David B. Hulme has joined McCraney Property Company as Managing Director to lead the firm’s expansion in Central Florida.

“We are committed to growing the Orlando market, and David will drive our development plans,” said Steven McCraney, president and CEO of McCraney Property Company.

A developer and manager of commercial/industrial flex and warehouse distribution properties, McCraney about to break ground on a 225,000-square-foot project of industrial distribution space at John Young Business Park located in Orlando Central Park. The company recently completed a 150,000-square-foot distribution center for with Dade Paper Company.

Steven McCraney
As managing director for Central Florida, Hulme will oversee all development as well as identify and execute on opportunities to acquire land, buildings and pursue build-to-suit opportunities within the Central Florida industrial distribution market.

“The Central Florida economy is rebounding and well-positioned for expansion,” said McCraney. “I see great opportunities for local companies to grow and for large corporations to enter the market.”

Hulme was previously an executive at Walt Disney Company as manager of resort and real estate development for the $150 million Golden Oak development, he coordinated construction of residential housing and a Four Seasons hotel and golf resort. He also managed real estate strategy and development for the Disney subsidiary, The Celebration Company, directing commercial development and financing.

Walt Disney World's Golden Oak Development
Orlando, FL
Before joining Disney, Hulme was a project manager for Toll Brothers and a helicopter commander in the U.S. Army, serving six years in Afghanistan. He earned a bachelor’s degree from Georgetown University and his master’s degree in business administration from the University of North Carolina at Chapel Hill.

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

Don Silver
Boardroom Communications

Jessica Shein
Boardroom Communications
Office: 954-370-8999
Cell: 954-817-9389

Trophy Coral Gables, FL Property Listed for $27.5 Million

55 Miracle Mile, Coral Gables, FL

CORAL GABLES, Fla., June 21, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, is exclusively listing the retail, office and parking portion of 55 Miracle Mile, located in Coral Gables, Fla. The listing price is $27,500,000.

Douglas K. Mandel
            55 Miracle Mile was built by Starwood Capital Group in 2004. The project included 184 luxury residential condominium units, all of which were sold that same year. The retail and office space portion consists of 65,242 square feet located on the ground, second and third floors. The parking garage features 400 spaces and is open to the public.

Douglas K. Mandel, a first vice president investments in Marcus & Millichap’s Fort Lauderdale office, and Benjamin H. Silver, a senior associate in the firm’s Miami office, are representing the seller.

Benjamin H. Silver
“With 92 percent occupancy and a collection of established tenants, the property offers excellent income stability in a submarket that commands some of the highest rental rates in Miami-Dade County,” says Mandel.

“Miracle Mile is home to several high-end retail boutiques, restaurants, and cultural venues and is recognized by both locals and tourists as a true destination,” adds Silver. “The property provides a unique opportunity to acquire a trophy property in a highly desirable location.”

Coral Gables is a dynamic, historic and international city.  It is also centrally located, offering convenient access to Miami International Airport, downtown Miami, Brickell Avenue, Key Biscayne, Coconut Grove and South Miami.

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

Ben Johnson
Marketing Director
(925) 953-1736

New Camp Pendleton Naval Replacement Hospital Construction Teams Stomp Competition at World Famous 10K Mud Run in San Diego, CA


SAN DIEGO – (June 20, 2013) – Just as the Clark/McCarthy joint venture design-build team is out ahead of construction on the new 500,000-square-foot Camp Pendleton Naval Replacement Hospital, so were its members and associates ahead of the pack during the World Famous Mud Run on June 15th on the Camp Pendleton Marine Corps Base north of Oceanside, Calif.

A total of 183 participants – including McCarthy Building Companies, Inc., and Clark Construction Group, LLC, employees, subcontractor partners, owner’s representatives, and friends & family members – comprised 36 separate teams that endured the grueling and muddy course and raised a combined $8,100 (not including the $10,000 sponsorship and race fees) to benefit the Camp Pendleton Armed Services YMCA (ASYMCA).

The World Famous 10K Mud Run was held at the military base over three consecutive weekends (June 1st, 2nd, 8th, 9th and 15th), with the last race benefitting the ASYMCA.

 In the Male Division, the Clark/McCarthy team captured four of the top 20 spots, led by a 7th place finish by Kaiser South Bay Team "Mud End of the Stick" team captain Josh Finely.

 In the Female Division, Maya Douglas and her "Fab 5" took first place by over eight minutes with a time of 1:17.  In the Coed Division -- by far the most competitive, with over 180 teams – the Clark/McCarthy team pushed through with a top 20 finish by "The Mighty Mustangs", led by Keaton Taylor.

Last year, the 155-member Clark/McCarthy team raised $10,000 and placed fourth out of 293 teams in the Mixed Division, 14th out of 70 teams in the Female Division, and took three of the top five spots in the Corporate Division.

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

 Bonnie Kutch,
Kutch & Company
Phone: (619) 299-1010     

Susan Garritano,
McCarthy Building Companies, Inc.

Phone: (314) 968-3300  

Post Properties Announces Date of Second Quarter 2013 Earnings Release and Conference Call

ATLANTA--(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS) will release its second quarter earnings after the market closes on Monday, July 29, and hold its quarterly conference call on Tuesday, July 30, at 10:00 a.m. ET.

The telephone numbers are 888-466-4462 for US and Canada callers and 719-325-2315 for international callers. 

The access code is 6128507. The conference call will be open to the public and can be listened to live on Post’s website at Click Investors in the top menu, then select either Investor’s Overview or Events Calendar.

The replay will begin at 1:00 p.m. ET on Tuesday, July 30, and will be available until Monday, August 5, at 11:59 p.m. ET. The telephone numbers for the replay are 888-203-1112 for US and Canada callers and 719-457-0820 for international callers. 

The access code for the replay is 6128507. A replay of the call also will be archived on Post’s website under Investors/Audio Archives.

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

Post Properties, Inc.

Chris Papa, 404-846-5000

HFF secures $39.1 million financing for power center in northwest Houston, TX

North Oaks Shopping Center, northwest Houston, TX

LOS ANGELES, CA – HFF announced it has secured $39.1 million in acquisition financing for North Oaks Shopping Center, a 448,760-square-foot power center in northwest Houston, Texas.

Christopher Vittetoe
HFF worked on behalf of World Class Capital Group, LLC to arrange 85 percent acquisition financing. The $34.5 million, 10-year, fixed-rate senior loan was securitized through Deutsche Bank.  In addition, HFF also placed a $4.6 million mezzanine loan on behalf of the borrower with SteepRock Capital.

North Oaks Shopping Center is located at 4501 Farm-to-Market Road 1960 at the intersection of Veterans Memorial Drive and is positioned midway between Highway 249 and Interstate 45.

 Situated on approximately 37.9 acres, the center includes two large multi-tenant buildings; four outparcel multi-tenant buildings and four single-tenant buildings.  Renovated in 2012, the property is 93.7 percent leased to tenants including Hobby Lobby, Ross Dress for Less, TJ Maxx, Big Lots, Mardel, Staples, 99 Cents Only and Dollar Tree.

Tyler Ford
Associate director Tyler Ford and director Christopher Vittetoe led the HFF team representing the borrower.

World Class Capital Group, LLC is a leading private real estate investment firm based in Austin, TX. The firm pursues opportunities in all U.S. markets and has a distinct focus on value-add and core-plus real estate investments. 

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

 Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

Affordable Family Housing Community Opens in Asheboro, N.C.

Asheboro Mill Lofts, Asheboro, NC

IRVINE, CA – WNC, a national investor in real estate and community development initiatives, announced the completion of Asheboro Mill Lofts, a 70-unit mixed-income affordable housing community in Asheboro, N.C.

WNC provided $9.4 million in tax credit equity, using a combination of low-income housing tax credits (LIHTC), federal historic tax credits and North Carolina Mill Rehab tax credits, to fund the project.

With a total project cost of $11.6 million, Asheboro Mill Lofts is a result of the adaptive reuse of two historic former mills, Asheboro Hosiery Mill and Cranford Furniture Mill, originally constructed in the early 1900s. 

Gregory Hand
The property was redeveloped in partnership with The Landmark Group of Companies. 

“Through a successful partnership, the former mills were transformed from an outdated and underutilized site into a beautiful home for the working families of Asheboro,” said Gregory Hand, WNC’s Senior Vice President, Underwriting.

“It provides a unique layout with large mill style windows retaining or replicating their original structure, and has preserved many historical elements of the former mills. We are pleased to have helped deliver such a quality project to the Asheboro community.”

R. Taylor Stanfield
Asheboro Mill Lofts is comprised of a mix of one-, two- and three-bedroom units, and is open to families earning no more than 60 percent of the area’s median income. Community amenities include a community room available for tenant functions, technology learning center, exercise room, playground and outdoor sitting and picnic areas.

“Asheboro Mill Lofts was a complex project and we are thrilled with the final result,” said R. Taylor Stanfield, President of The Landmark Group of Companies. “It is a true testament to the benefits of historic tax credits used in conjunction with low income housing tax credits, and a true blend of old and new offering the residents of Asheboro a unique housing option in the heart of downtown.”

Rehab Builders, Inc. of Winston-Salem served as the general contractor of the project and Rowhouse Architects of Asheville served as the architect. Landmark Property Management Company will continue to manage Asheboro Mill Lofts, which is currently 100 percent leased.

The LIHTC program is a federal tax credit used to incentivize investments in the development of affordable rental housing for low income households.

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

Jill Swartz
Spotlight Marketing Communications
949.427.5172, ext. 701 – direct
949.485.1552 – mobile

Additional information on LIHTC is at 

Annaly Capital Management, Inc. Announces 2nd Quarter 2013 Dividend of $0.40 per Share

NEW YORK, NY--(BUSINESS WIRE)-- The Board of Directors of Annaly Capital Management, Inc. (NYSE: NLY) declared the second quarter 2013 common stock cash dividend of $0.40 per common share. This dividend is payable July 29, 2013, to common shareholders of record on July 1, 2013. The ex-dividend date is June 27, 2013.

The Company distributes dividends based on its current estimate of taxable earnings per common share, not GAAP earnings. Taxable and GAAP earnings will typically differ due to items such as unrealized and realized gains and losses, differences in premium amortization and discount accretion, and non-deductible general and administrative expenses.

Dividends may be reinvested through the Company's Dividend Reinvestment and Share Purchase Plan. Plan information may be obtained from the Plan Administrator, Computershare at 1-866-353-7849, at, or by contacting the Company.

Annaly’s principal business objective is to generate net income for distribution to its shareholders from its Investment Securities and from dividends it receives from its subsidiaries. Annaly is a Maryland corporation that has elected to be taxed as a real estate investment trust (“REIT”).

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

Annaly Capital Management, Inc.
Investor Relations, 1-888-8Annaly