Lindbergh's 100-Year-Old, Waterfront Property in Darien, CT on Market for $18 Million

(Photo courtesy William Pitt Sotheby's)

The Nantucket-style home and its large guest cottage,  named Tellina, are now for sale, priced at $11.75 million and $6.3 million respectively. The property is located in the upscale Tokeneke neighborhood on 1.77 waterfront acres with 635-feet of shoreline on a peninsula jutting into Scotts Cove in Long Island Sound, the 5,663-square-foot, six-bedroom, six-bath home was built in 1919 with large arched glass doors and windows to bring the extensive water views inside.

Charles Lindbergh
(Onthisday.com photo)

DARIEN, CT -- The Long Island Sound home of historic aviators and celebrities Charles and Anne Morrow Lindbergh is for sale.

 The main house is priced at $11.75 million and the guest house priced at $6.3 million.

 Listing agents are Julie Bauer and Anika Charron of William Pitt Sotheby’s in Darien, Connecticut.

According to TopTenRealEstateDeals.com, Charles Lindbergh was celebrated worldwide in 1927 after accomplishing the first solo nonstop flight across the Atlantic Ocean in the airplane he helped design, The Spirit of St. Louis.

His book, We, about the journey became a bestseller and Lindbergh received many prestigious honors including the Distinguished Flying Cross medal from President Calvin Coolidge.

Anne Morrow Lindbergh
(photo courtesy PBS.org)

After his marriage to Anne Morrow Lindbergh in 1929, the couple teamed up to break the transcontinental speed record in a flight from Los Angeles to New York in just less than 15 hours, and traveled throughout the world promoting air travel and safety.

The Lindberghs owned a waterfront home in Darien, Connecticut on Long Island Sound where they lived off and on until Charles died in 1974 and Anne in 2001.

 While living at the home, Anne wrote several best-selling books and Charles kept his seaplane moored in the cove off the front yard, convenient for day-trip flights.

The Nantucket-style home and its large guest cottage, which they named Tellina, are now for sale, priced at $11.75 million and $6.3 million respectively.

Julie Bauer

Located in the upscale Tokeneke neighborhood on 1.77 waterfront acres with 635-feet of shoreline on a peninsula jutting into Scotts Cove in Long Island Sound, the 5,663-square-foot, six-bedroom, six-bath home was built in 1919 with large arched glass doors and windows to bring the extensive water views inside.

There is a large kitchen with breakfast room, dining room and fireplace in the living room. Grounds contain two garages with the capacity for five cars and a dock with space for two boats along with the option to drop additional moorings.

Additional outdoor structures include waterside pergolas and terraces for entertaining and both open and covered porches.

The adjacent waterfront guest cottage with 1,100-feet of shoreline, named Tellina by the Lindberghs, is also for sale, either with the house or separately.

Anika Charron

 It is on 2.84 acres, is 1,529 square feet, has four bedrooms, three baths and was built in 1936. The landscape was originally designed by the Washington, DC-based Oehme, van Sweden, responsible for the landscaping at the Federal Reserve, World War II Memorial and Martin Luther King, Jr. Memorial.

 Both main and guest homes have mature gardens, rock walls and open lawns with unobstructed views of the cove and beach landscape.

CONTACT:

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504
Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

Acordis Technology & Solutions Relocates Corporate Headquarters to Miramar Park of Commerce in Miramar, FL

Lauren Pace

MIRAMAR, FL (May 13, 2019) – Acordis Technology & Solutions, a leading provider of IT solutions, has relocated its corporate headquarters to the Miramar Park of Commerce, the largest locally owned and managed business park in South Florida.

Acordis has leased 24,200 sq. ft. of space in MPC-11C at 2785 N. Commerce Parkway, which is more than double the square footage of its previous location.

Acordis currently provides more than 2,000 clients with IT solutions and services for data management, infrastructure management, digital collaboration, data and enterprise networks, digital signage, digital security, multi-functioning printer products and more.

The company, which recently renewed a multi-year contract as the official host sponsor and document management/business service provider for the Miami Open, also is the official IT solutions provider of HEAT NATION and has been consistently ranked among the fastest growing companies in the Inc. 5000, CRN’s Fast Growth 150 and the South Florida Business Journal.

Maridee Bell

“In the last year, we were faced with the challenge of finding a place that would suit our current needs and provide for potential future expansion,” said Rehan Khan, president and CEO of Acordis Technology & Solutions.

“We chose the Miramar Park of Commerce due to its flexibility and its central location. In the Park, we can easily prepare for growth and better service our clients in Broward, Palm Beach and Miami-Dade counties.”

Acordis employs 40 at the Park and anticipates expanding its workforce by 12 to 15 percent by 2020. Through the implementation of new services and the acquisition of new clients, the company also forecasts an increase in revenue by 15 to 25 percent by 2020.

Rehan Khan

“At the Park, we offer an inventory of almost 2 million sq. ft. of existing flex and office space, more than 3.5 million sq. ft. of industrial space, and built-to-suit options for tenants with a specific vision for their company’s current and future business needs,” said Sunbeam Properties Vice President Maridee Bell, who along with Leasing Associate Lauren Pace, represented the Park in the transaction.

 “We have the discretion and capability to meet the unique needs and exceed the expectations of a diverse array of tenants. It’s why industry-leading companies such as Acordis continue to lease, renew and grow with us.”

The Miramar Park of Commerce was also represented by Carlos Velasquez of Vivo Real Estate Group in the transaction.

Carlos Velasquez

For more information, please contact Lauren Pace (lpace@wsvn.com) or Maridee Bell (mbell@wsvn.com) at 10212 USA Today Way, Miramar, FL 33025 or call 954-450-7900.

Contacts:

Lexi Robinson

954-776-1999, ext. 255

lrobinson@piersongrant.com

ACORDIS CONTACTS:

Alexandra Porben, Acordis Technology & Solutions, aporben@acordiscorp.com 

www.acordiscorp.com.

Passco Companies Reaches $3.5 Billion in Multifamily Transaction Volume

Jeff Olshan

Irvine, CA (May 13, 2019) – Passco Companies, a privately-held California-based real estate company that specializes in acquisition, development and property and asset management throughout the U.S., has announced a milestone: the firm has reached $3.5 billion in multifamily transaction volume.

“Passco is extremely deliberate in implementing our real estate strategies,” says Jeff Olshan, Senior Vice President, Multifamily Investments at Passco. “We continue to be active buyers of real estate as we seek out the right multifamily opportunities in growth markets across the country.”

On the disposition side, Passco sold six multifamily assets in 2018, capitalizing on demand that delivered profitable prices ahead of initial projections.

Larry Sullivan

“Passco’s success in the dynamic multifamily market over the past 15 years can be credited to our team’s ability to identify opportunities in submarkets poised for growth, to operate these assets in a way that strategically and consistently targets maximum performance, while keeping our finger on the market pulse to determine the opportune time to sell,” says Olshan.

Passco’s investment strategy is broad-based among all markets but recently has primarily centered on secondary and tertiary markets with high-growth demand drivers and measureable competition.

“As demand rises in these secondary and tertiary markets, we continue to attract a highly competitive field of potential buyers and secure pricing levels that deliver strong overall returns,” says Olshan.

Passco’s President Larry Sullivan adds, “Our $3.5 billion milestone in multifamily transaction volume to date strengthens our position as a major player in the market.

"Looking ahead, Passco will continue to expand our multifamily portfolio, while also diversifying into other sectors where strong growth fundamentals are present, including self-storage, active adult seniors housing, and niche-opportunity retail.”

Contacts:

Micaela Fehrenbach / Elisabeth Manville

Brower Group

(949) 438-6262

mfehrenbach@brower-group.com

Avanath Launches Proactive Health and Wellness Program at Two Maryland Active Adult Communities

  

Alicia Bramble Sr.

  

Upper Marlboro, MD and Temple Hills, MD (May 13, 2019) — Avanath Capital Management, LLC, a private real estate investment manager and Registered Investment Adviser, has launched Activate, a health and wellness program being rolled out at two senior communities: Vistas at Lake Largo in Upper Marlboro, Maryland, and Manor at Victoria Park in Temple Hills, Maryland.

Activate is a free on-site proactive program focused on increasing health awareness and education while promoting the health advantages of an active lifestyle.

Through Activate, Avanath is partnering with the University of Maryland Capital Region Health to offer vital health screenings such as, blood sugar testing, cholesterol and blood pressure.

From left  – Laura Richardson, Toni Harris, Camille Longino, Daryl Carter, Rick Villegas, Tonya Barnes, Alicia Bramble

 The program will also offer health education classes on such topics as cholesterol management, medication management, diabetes management, fall prevention and balancing, and establishing healthy eating habits.

In conjunction to the health services, the Activate program will also offer wellness services that will include a range of fitness and exercise classes, healthy cooking classes, and quarterly social events focused on encouraging resident interaction.

For the wellness programs, Avanath has partnered with Cor Community Development Corporation, which serves as a nonprofit managing general partner for Avanath properties in California and Washington State.

 As part of investing in its resident’s health and wellness, Avanath has converted previously unutilized community space into a state-of-the-art wellness facility that includes screening rooms complete with exam tables, medical supplies, medical exam equipment and other necessary components that allow providers to administer health exams.

Ada Arevalo

“These health services are invaluable to our residents’ overall well-being,” says Alicia Bramble, Sr. Asset Manager and Impact Investment Committee Vice-Chair.

“The response we have received from our residents and on-site teams has been very positive and we look forward to a successful program.”

“Wellness is a key component leading to healthy residents at Avanath’s active-adult communities,” says John Williams, President & CIO.

John R. Williams

“Seniors thrive in communities that offer holistic wellness programs like Activate. In addition to providing the physical activity that so many residents need and desire at these communities, Activate’s wellness programs will also enhance their state of mind and social relationships in their living environments by providing them with opportunities to engage with fellow residents.”

Williams notes that the health and wellness program provides tangible benefits to Avanath investors and its residents.

Daryl J. Carter

“Activate fulfills Avanath’s social-impact fiduciary duties, which is a significant factor to our company’s mission and that of many of our investors,” says Ada Arevalo, VP Fund Management and Impact Investing Committee Chair.

“The program also fulfills a commitment to our residents to promote their health, allowing them to remain in these communities longer and reducing their need to transfer to an assisted living facility.”

Avanath launched Activate at Manor at Victoria Park on May 2 and at Vistas at Lake Largo on May 8 with special events on-site that featured guest speakers and healthy refreshments.

Typical Avanath gym facility

The Vistas at Lake Largo event also revealed recently completed major improvements to the property, including renovations to its first floor that included the updated wellness facility retrofitted by University of Maryland Capital Region Health to meet ADA requirements. 

About Avanath Capital Management

Avanath Capital Management is a privately-held, vertically integrated investment firm managing real estate and real estate-related investments generating attractive risk-adjusted returns through current income and capital appreciation from its investments.

Typical Avanath Medical quarters

The firm is also a Registered Investment Adviser and provides property management services through Avanath Realty, Inc.

Founded by Daryl J. Carter, the Avanath management team averages 25 years of experience and has successfully guided investment funds in defining growth opportunities and delivering attractive returns.

Avanath professionals have real estate operating expertise and long-standing relationships with strong local, regional and national sponsors that can access investment opportunities aligned with Avanath's initiatives.

More information is available at www.avanath.com.

Contact:

Lexi Astfalk

Brower Group

(949) 438-6262

LAstfalk@brower-group.com

Clever Real Estate reveals the true costs of homeownership; Millennials Hurting

Thomas O'Shaughnessy

 ST. LOUIS, MO – Two new studies from Clever Real Estate reveal the true costs of homeownership. Thomas O'Shaughnessy, Head of Research, Clever Real Estate, St. Louis, MO, authored the studies.

The first study shows that the average homeowner spends $2,676 on maintenance and repairs, $6,649 on home improvements, $2,600 on property taxes and $1,228 on homeowners insurance every year.

However, these numbers don’t tell the whole story.

Millennials are feeling the pressure of homeownership more than any generation, and a full report that compares millennial and Baby Boomer homeowners can be found here.

Key Insights:

●     59% of homeowners making renovations are using some combination of credit cards, personal loans, and home equity loans to fund their projects

●     1 in 4 homeowners have less than $500 saved for home repairs

●     In spite of the costs, 65% of homeowners said they’ve never felt home buyer’s remorse

●     Where you live matters: On average, New Jersey homeowners pay five times more in property taxes on a $206,000 home than they would if they lived in Alabama

Millennial Insights:

●     Millennials are twice as likely to be stressed about homeownership than Baby Boomers

●     67% of millennials put less than 20% down, leading to higher mortgage payments

●     Millennials are three times as likely to use a personal loan and twice as likely to use a credit card to finance their renovations than Baby Boomers

●     43% of millennials were surprised by the cost of maintaining their homes

Almost every homeowner (75%) is planning renovations in the next five years, but millennials are planning 50% more renovations than Baby Boomers. Unfortunately, they’re also three times as likely to use a personal loan, and twice as likely to use a credit card to finance their renovations.

Combined with higher than average mortgage premiums due to putting less down, Millennials are twice as likely to be stressed by homeownership. It’s no surprise (to us) that 43% of Millennials were surprised by the cost of maintaining their homes.

The full reports contain additional data, shareable graphics, our methodology, and much more.

●     The True Cost of Homeownership study can be found here

●     The Millennial vs. Baby Boomer Homeowner study can be found here

CONTACT:

Thomas O'Shaughnessy
Head of Research - Clever Real Estate
314-322-8630