Friday, October 24, 2014

RealtyTrac Reports 8.1 Million U.S. Residential Properties Seriously Under Water in Third Quarter Marking Lowest Level in Two Years

IRVINE, CA — RealtyTrac® (, the nation’s leading source for comprehensive housing data, today released its U.S. Home Equity & Underwater Report for the third quarter of 2014, which shows that 8.1 million U.S. residential properties were seriously underwater — where the combined loan amount secured by the property is at least 25 percent higher than the property’s estimated market value — representing 15 percent of all properties with a mortgage and an estimated $1.4 trillion in negative equity.

“The decrease in underwater properties is promising but the estimated $1.4 trillion in negative equity means that the flood waters are not receding as quickly as they were before, corresponding to slowing home price appreciation,” said Daren Blomquist, vice president at RealtyTrac. “Slower price appreciation means the 8 million homeowners seriously underwater could still have a long road back to positive equity.

“We wanted to paint a picture of the typical seriously underwater homeowner and what we found was that homeowners who bought or refinanced during the housing bubble (2004 to 2008), own a home worth less than $200,000, live in the Sun Belt or Rust Belt and live in a Democratic Congressional District were more likely to be seriously underwater,” Blomquist noted.

“On the other end, the highest percentages of equity rich homeowners were those who bought or refinanced between 1994 and 1998, those with properties valued at $500,000 or more, live in NY, CA, DC and these folks also tend to live in Democratic Congressional districts.”
For a complete copy of the company’s news release, please contact:
Jennifer von Pohlmann
949.502.8300949.502.8300, ext. 139

Griffin-American Healthcare REIT III Enters Agreement to Acquire Portfolio of Medical Office Buildings in New York, New Jersey, Massachusetts and Kentucky for $135 Million

Danny Prosky
IRVINE, CA – American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT III, Inc., announced that the REIT has entered into an agreement to acquire Independence Medical Office Building Portfolio, comprised of five buildings totaling approximately 461,000 square feet in New York, New York; Verona and Morristown, New Jersey; Somerville, Massachusetts; and Southgate, Kentucky for an aggregate purchase price of approximately $135 million. 

The acquisition is subject to customary closing conditions and the satisfaction of other requirements as detailed in the agreement. 

“The acquisition of Independence Medical Office Building Portfolio will significantly expand Griffin-American Healthcare REIT III in core urban areas located near major academic and healthcare institutions,” said Danny Prosky, a principal of American Healthcare Investors and president and chief operating officer of Griffin-American Healthcare REIT III.

 “The portfolio is strongly aligned with major healthcare providers and is more than 96 percent occupied.”

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

Damon Elder                                                                                   
(949) 270-9207

Governor Announces Sealand’s 13,000-SF Miramar Headquarters Location will create 65 jobs and a capital investment of $350,000

Huntington Centre, Miramar, FL

MIRAMAR, FL (Oct.  24, 2014) – Gov. Rick Scott announced today SeaLand will locate its corporate headquarters to Huntington Centre in Miramar. The shipping company will create 65 jobs and a capital investment of $350,000 in the South Florida community.

Jennifer Gemma
 Scott said, “The opening of SeaLand’s headquarters in Miramar is great news for area families, and the 65 new jobs that will be created will help more families live the American Dream here in Florida.

“SeaLand’s 13,000 square foot headquarters in Miramar at MetLife’s Huntington Centre is a highly significant leasing deal in terms of economic impact,” said Taylor & Mathis Director of Leasing, Donna Korn. 

 “The company will be an outstanding asset to Broward County.” 

Korn, along with Jennifer Gemma, brokered the lease transaction on behalf of landlord MetLife.

In January of 2014, Maersk Line, the world’s leading ocean transportation company and a unit of the A.P. Moller-Maersk Group, announced the formation of a regional, containerized shipping company – SeaLand – dedicated to the intra-Americas market.

Donna Korn
With a structure similar to Maersk’s other successful regional carriers, including intra-Asia carrier MCC Transport and intra-Europe carrier Seago Line, SeaLand will feature knowledgeable, local sales and support personnel positioned in North, Central and South America, as well as the Caribbean, to meet the unique needs of customers throughout the region.

This agile framework will provide greater flexibility and a higher-level of customer-focused service to these local markets. Maersk Line’s existing Intra-Americas service network will be the foundation for SeaLand’s ocean products.

Craig Mygatt, SeaLand’s CEO said, “We are excited to base our headquarters in Miramar, Florida. The SeaLand headquarters will act as the main hub for our business which spans throughout North, Central and South America, and the Caribbean.

“This location is ideal for our operation and will serve us well as we focus on delivering world-class shipping service for all of our customers throughout this vital region of the world.

“We believe Florida offers great opportunities for our team and their families. We thank Governor Scott, Secretary Swoope, the State of Florida, Enterprise Florida, and our local partners for their outstanding support on this project.”

Miramar, FL Mayor Lori C. Moseley
The broader wholesale trade, transportation and logistics industry employs more than half a million Floridians.

 Of those, nearly 85,500 work at companies specifically providing logistics and distribution services.

 As the gateway to Latin America, Florida's logistics and distribution industry is poised to grow further with the Panama Canal expansion, and the numerous infrastructure developments and upgrades underway around the state.

“SeaLand’s decision to locate in Florida validates the state’s success in maintaining a business climate that supports not only Florida’s extensive logistics industry, but our headquarters sector as well,” said Gray Swoope, president & CEO of Enterprise Florida.

 “We are proud to welcome SeaLand to our city and commend the company for partnering with us as we work to sustain a strong economic base for our community,” said Miramar Mayor Lori C. Moseley.
Broward County, FL Mayor Barbara Sharief
“SeaLand is yet another example that ‘Broward Means Business.’  

The company has a long distinguished reputation in the marine industry, which is a prime targeted business and we thank them for bringing jobs and a considerable investment to Broward County,” said Broward County Mayor Barbara Sharief. 

 “Broward County continues its widespread effort to bring new companies to our area and we are pleased to welcome SeaLand to Miramar.”

“Florida’s resources, including a strong workforce, expansive infrastructure and strategic partnerships, have created one of the top business climates in the country. We’re excited to see SeaLand take advantage of Florida’s assets and I congratulate them on this establishment.”
This project was made possible through the close partnerships of Enterprise Florida, the Florida Department of Economic Opportunity, CareerSource Florida, the Greater Fort Lauderdale Alliance and Broward County.

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