Real Estate Investment Analyst George Livingston sees Angel Investment Group as Key to Economic Growth in Central Florida

MAITLAND, FL--- Local investment in local enterprises is the key to economic growth in Central Florida, says George Livingston (top right photo) chairman of NAI Realvest in Maitland and a leading and longtime Orlando-area real estate investment analyst.

And Livingston is willing to put his money where his mouth is.

Livingston recently signed on as a founding member of Maximize Angel Investments Orlando, Inc., an angel investment firm that aims to invest in Florida companies with a bright future.

“We are not going to substantially improve the local economy by luring companies here with big tax breaks,” Livingston said.

“Every community in the U.S. is playing that game, and they’re all chasing the same half dozen companies,” Livingston said.

Livingston is convinced a “grow our own” philosophy is the more cost-effective path toward economic development.

“We should be investing in new, innovative approaches in information technology, energy, life sciences, software, clean tech, communications and entertainment,” Livingston said.

“Those are sustainable industries, and we have the talent right here in Central Florida to make those industries thrive,” he said.

Livingston said groups like Maximize Angel Investments Orlando, help identify prospective growth companies and track their investment value.

“We have substantial resources right here in Central Florida — at the UCF Business Incubation and GrowFL programs, for example — to identify appropriate startup companies that have high potential for accelerated growth,” Livingston said.

 “We also have investment capital. Angel investment networks like Maximize Angel Investments Orlando, puts the capital and mentors together with the entrepreneurs who will lead a new, sustainable economy recovery,” he said.

 For more information, contact: 

George Livingston, Chairman NAI Realvest 407-875-9989; glivingston@realvest.com

 Larry Vershel, Larry Vershel Communications, 407-644-4142, lvershelco@aol.com

  

Avison Young acquires Millennium Realty Advisors, LLC

TORONTO, July 5, 2011 /PRNewswire/ - Mark E. Rose (top right photo), Chair and CEO of Avison Young, Canada's largest independently-owned commercial real estate services company, announced today that it has acquired Millennium Realty Advisors, LLC, a Virginia-based brokerage firm that provides agency leasing and tenant representation services.

The acquisition further expands Avison Young's market coverage in

Northern Virginia, the largest market in the Washington, DC region.

 The change in ownership will add nine employees - including five new

Principals - to Avison Young's U.S. Capital Region operations. Terms of

the acquisition were not disclosed.

Millennium Realty Advisors was founded in 1997 by John McEvilly and Mike Shuler, who have a combined 55 years of experience in the commercial real

estate industry.

Effective immediately, McEvilly, Shuler, Douglas Eliot, James Palmer and RobertWalters join Avison Young as Principals. NathanKrill and Joseph Pilch join as Vice-Presidents, Brokerage Services, Virginia; Sophrona Chinoy as Director; and UlyanaRadisavljevic as marketing assistant.

"We are thrilled to have John and Mike and the rest of the Millennium

team join the Avison Young organization," comments Rose.

 "This acquisition represents the next step in our company's expansion

strategy, and reinforces our commitment to invest in the firms and the

top talent who believe in our Principal-led, client-focused service

model.

“This strategic acquisition will give Avison Young an even

broader client-service platform in the DC area as we continue to expand

our capabilities throughout the U.S.

“With this acquisition, Avison Young has now built one of the leading landlord-representation platforms in the Washington, DC region in less than 18 months."

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

Sherry Quan, National Director of Communications & Media Relations, Avison Young: (604) 647-5098; cell: (604) 726-0959

Self-Storage Call Center Expert Cynthia Abraham Hansell Offers Tips for Analyzing Phone Data for MiniCo Webinar

PHONIX,  AZ, July 05, 2011 --(PR.com)-- Self-storage operators of all sizes rely on the telephone to make sales and serve their customers. On July 27, 2011, self-storage call center expert Cynthia Abraham Hansell, Vice President of Call Center Operations, OpenTech Alliance, Inc., and Sue Haviland, Owner of Haviland Storage Services, will present the free webinar “Analyzing Your Phone Data for Profit.”

The webinar will discuss the best practices that large operators rely on to maintain a competitive edge with the goal of helping self-storage operators of every size make better business decisions based on real data. Topics will include the following:

• What phone data you should be collecting
• Which reports you should review on a monthly basis
• What to look for on your reports
• Using data to improve conversion ratios and staffing
• Identifying training opportunities

OpenTech Alliance, Inc., is the sponsor of the webinar.

For more information or to register, visit www.ministoragemessenger.com

Online registration is required for this free live event.

MiniCo Insurance Agency, LLC, publishes the “Mini-Storage Messenger,” the leading monthly trade magazine covering the global self-storage industry. Other publications include “Self-Storage Now!,” “Mobile Self-Storage Magazine,” “RV & Boat Storage Today,” “Self‑Storage Canada,” the “Self-Storage Almanac,” the “Self-Storage Construction & Renovation Handbook,” and the “Self‑Storage Buyer’s Guide.”

Since 1974, Phoenix-based MiniCo Insurance Agency, LLC, has been a self-storage leader providing superior specialty insurance programs, informative publications and valuable products and services created expressly for the self‑storage industry.

For More Information:

OpenTech Alliance, Inc. – www.opentechalliance.com

Herman & Kittle Properties, Inc. – www.shavilandstorageservices.com

Contact:

MiniCo Insurance Agency, LLC

Christa Van Zant

602-678-3568

cvanzant@minico.com

www.minico.com

NAI Realvest negotiates new Long Term Lease in Oviedo, FL for Tampa-Based Fun Center Operation

MAITLAND, FL. – NAI Realvest recently negotiated a five-year lease agreement for 20,000 square feet at 532 S. Econ Circle in Oviedo that will be home to a Tampa-based family fun center.

 Paul P. Partyka (top right photo), managing partner at NAI Realvest, negotiated the transaction representing the landlord Oviedo-based Owen Family Venture, LLC. 

 The new tenant Xtreme World Fun Center LLC doing business as BOING! Jump Center was represented by Jared Bonshire of Cushman & Wakefield of Florida, Inc. 

“BOING! Jump Center has been extremely successful in the Tampa area and now wants to bring its success to the Orlando area near UCF,” Partyka said.

For more information, contact:

Paul P. Partyka, Managing Partner, NAI Realvest 407-875-9989 ppartyka@realvest.com;

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

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

Lodging Industgry Bright Star in Commercial Real Estate Sector, RECI Finds

CHICAGO, IL, July 5, 2011 - The Real Estate Capital Institute’s monthly Scoreboard reports  fed quantitative easing policies, the Euro monetary crisis, rising concerns about inflation in China and the overflow of capital into commercial real estate are all tampering with low

mortgage rates.

Treasuries are rising and the Federal Reserve has minimal room to continue

monetary easing, despite fragile economic conditions.   Throughout the past

week, treasury rates have risen in excess of 3.1%, the highest since the end

of May.  Rates are already bouncing along the bottom of the curve and can

only be expected to move upward.

Just as Treasuries rise, mortgage spreads also widened -- by about 30 to 50

basis points; concerns loom over CMBS performance.  The Rating Agencies warn about the rapid reintroduction of pro forma cash flow projections as part of

underwriting new loans.

To stay competitive, conduit lenders react by tightening underwriting and pushing back on leverage.  However, such lenders still offer cashouts and a wider spectrum of funding programs (e.g.,combination permanent loan with mezz debt).

In the midst of such change, multifamily properties still capture the lowest

rates.  Despite concerns about the future of agency lending, Freddie Mac and

Fannie Mae are sought by investors and borrowers, alike.  Improving

profitability, the government's continued backing of the housing sector and

no real short-term alternative solutions are reasons for guarded optimism

for this funding sector to stay viable.

The lodging industry is the bright star in the commercial property sector

and room rates rise and occupancy levels recover to pre-recession levels.

This sector is also supply-constrained as few investors dare to venture into

new construction in the foreseeable future.  Lenders take note, selectively

financing hospitality properties at pricing levels matching other more

traditional commercial property types, although at leverage of 65% or below.

Ms. Jeanne Peck (top right photo) of The Real Estate Capital Institute, forecasts "at the mid-year mark, very little room remains for absolute rates to drop further."

Peck notes, "The main focus must be on improved cash flow performance

through expense reductions and more aggressive income growth, where

available."

The Real Estate Capital Institute(r) is a volunteer-based research

organization that tracks realty rates data for debt and equity yields.  The

Institute posts daily and historical benchmark rates including treasuries,

bank prime and LIBOR.  

Contact:

The   Real Estate Capital Institute(r)

3517 West Arthington Street

Chicago, Illinois USA 60624

Contact: Jeanne Peck, Research Director

director@reci.com

www.reci.com

Landmark Hotel’s Facelift Leads Revitalization of Bloomington, MN Strip

BLOOMINGTON, MN.--(BUSINESS WIRE)--Drive down I-494 in Bloomington and you can’t miss the iconic Sheraton Bloomington Hotel. Starting July 8, those white letters will change to the DoubleTree by Hilton, beginning its future as the premier business and events destination in the Twin Cities.

“This hotel is an important part of the social fabric of greater Minneapolis,” said Scott Weber, general manager. “Over the years, it has played host to weddings, anniversaries, proms and other special occasions for generations of locals.

“ It also is superbly located for visitors who come to do business in the area, take in a sporting event, or enjoy the best shopping in the region. It’s a landmark hotel that will benefit greatly from a fresh, contemporary, upscale brand.”

 In January 2012, the hotel will launch a $12.5 million renovation of guest rooms, public spaces and meeting rooms. Mortenson Construction will be leading the renovation; which is expected to be finished by the middle of 2012.

The affiliation with Hilton Worldwide means the property will have access to millions of potential new guests who are members of the popular Hilton “HHonors” program and a strong network of rewards for existing guests.

Curt Carlson built the Radisson Bloomington in 1970, creating a hotel that was twice the size of any other hotel in the area. It marked the beginning of an expansion of the Minneapolis metro area into what eventually became known by locals as the Bloomington Strip. The upcoming renovation is part of a multi-million dollar strategy by Platinum Equity and Richfield Hospitality.

Additional information about Richfield Hospitality may be found at the company’s website www.richfield.com

.

Contact: Richfield Hospitality, Connie Stelter, 952-893-8405

Starwood Hotels & Resorts: Le Meridien Unveils Innovative Lobby Concept ‘Le Meridien Hub’

NEW YORK, NY--(BUSINESS WIRE)--Le Méridien Hotels & Resorts today introduced its lobby concept, “Le Méridien Hub,” which re-interprets the hotel brand’s lobbies as social gathering places for creative people to converse, debate and exchange.

The Hub concept further builds on Le Méridien brand’s award-winning Arrival experience and coffee culture, which have both been implemented successfully worldwide.

The Hub offers both guests and locals a creative atmosphere where contemporary, curated artwork sets the environment. Members of LM100, a group of cultural innovators of mixed generations and interdisciplinary artistic fields, identified by Le Méridien Cultural Curator Jerome Sans, have contributed their creativity to enhance the Hub experience.

“Starwood has long been an innovator in the transformation of the traditional hotel lobby,” said Eva Ziegler (top right photo), Global Brand Leader, Le Méridien and W Hotels Worldwide.

 “More than 12 years ago when Starwood launched the W brand, our lobbies became Living Rooms, and soon after, Sheraton brought people together with the Link@Sheraton.

 “Most recently, the Aloft brand’s lobbies have been designed to draw people out of their rooms through open floor plans and modular, flexible seating. Today, we are proud to reveal Le Méridien brand’s Hub concept, which will further evolve our new brand direction, designed to appeal to the creative class.”

Le Méridien Barcelona (lower left photo) is the first hotel to fully execute the Hub experience, while other Hubs will launch throughout the year in Le Méridien hotels globally. Designed to promote dialogue, awaken curiosity and stimulate thinking, the Hub can be divided into three experience zones:

Contacts

Flint Beamon / Megan Lechich

PR Consulting

+1 212 228 8181

Megan@prconsulting.net

NAI Realvest negotiates sale of office condo at Legacy Village in Lake Mary, FL for $96,350

MAITLAND, FL --- NAI Realvest recently negotiated the sale of an office condominium in Legacy Village Office Park at 3208 West Lake Mary Blvd. off I-4 in Lake Mary.

 George Viele (top right photo), associate in the firm, negotiated the sale representing the seller, CVM I REO, LLC of Fairport, NY.

 The buyer, Lake Mary-based D&P Music, LLC paid $96,350 for unit 1720 with 945 square feet. Alan Salerno of Florida Home Team Realty represen6ted the buyer in the transaction.   

For more information, contact,

George Viele, Associate NAI Realvest 407-875-9989 gviele@realvest.com

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

 Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 (fax: 4410)

Rhodes+Brito Architects Complete Design of $4 Million Mechanical Project for North Marion High School in Ocala, FL

ORLANDO, FL --- Rhodes+Brito Architects, based in Orlando, recently completed a design project to build $4 million worth of mechanical improvements at North Marion High School in Ocala.

Ruffin Rhodes (top right photo), co-founder and partner at Rhodes+Brito Architects, said the construction includes a new energy plant for the campus and replacement of the air conditioning and fire alarm systems in the main classroom building.

Rhodes said construction is underway and expected to be complete by end the end of the Marion County Public Schools summer break.

For more information, contact:

Ruffin Rhodes, Rhodes+Brito Architects, 407-648-7288 x103 ruffin@rbarchitects.com

 Maximiano Brito, Rhodes+Brito Architects, 407-648-7288 max@rbarchitects.com

 Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 (fax: 4410)

Marcus & Millichap Facilitates Sale of Wendy’s in Clermont, FL for $1.3 Million

 CLERMONT, FLA., July 1, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Wendy's (top left photo), a 3,048-square foot single-tenant net-leased property located in Clermont, Fla., according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $1,307,000.

Peter Nisbet (middle right photo), Vice President Investments and a Senior Director of the National Retail Group in Marcus & Millichap’s Seattle office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. 

Moe Derbala, a Retail Specialist in the firm’s Tampa office secured and represented the buyer, a private investor based out of Dunedin, Florida.

Wendy's was built in 1985 and is located at 850 East Highway 50.  This area is full of large and small lakes and is considered by some to be called Lake Land. The surrounding businesses and establishments include Green Valley Country Club, Church of Jesus, Gateway Church of Clermont, J Concepts and Howard Fertilizer & Chemical.

Press Contact:  Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700

Marcus & Millichap Names John Vorsheck Regional Manager of San Diego Office

  SAN DIEGO, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named John Vorsheck (top right photo) regional manager of the firm’s San Diego office, according to John J. Kerin (lower left photo), president and chief executive officer.

“John has a very successful track record in commercial real estate as a manager and as an investment professional,” says Kerin. “As regional manager of the San Diego office, he will be a tremendous resource to our agents and clients.”

Vorsheck began his career with Marcus & Millichap in November 2006 as the sales manager of the Newport Beach office. He was promoted to regional manager of the Las Vegas office in April 2007 and joined the sales force in Las Vegas in April 2010. He transferred to the Long Beach office in August 2010.

 Prior to returning to Marcus & Millichap, Vorsheck was a top multifamily broker at another commercial real estate brokerage firm where he earned investment broker rookie of the year status as well as numerous investment broker awards. He was also involved in the development of a start-up full-service commercial real estate firm, from investment brokerage to management, consulting and acquisition.

Vorsheck is a graduate of the University of Arizona with a Bachelor of Arts degree in communications and a minor in business administration.

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

$17.1 Million Lender-Owned Apartment Complex Trades in Florida

ST. PETERSBURG, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Skyline Fifth Avenue Apartments (top left photo), a 178-unit lender-owned apartment complex in St. Petersburg. The sales price of $17,125,000 represents $96,208 per unit and $101 per square foot.

Frank Carriera (middle right photo), a senior associate, and Michael Regan (lower left photo), an associate vice president investments, both in the firm’s Tampa office, represented the seller, and the buyer, a Canada-based investment group.

“The lender began foreclosure proceedings in November 2010 with the intention of selling the loan,” says Carriera.

“However, there were some significant hurdles in the transaction and the buyer and seller eventually decided to make this a real estate transaction instead of a loan sale.

“The seller foreclosed in May 2011 and the buyer ended up financing the sale with a 68.6 percent LTV bridge loan,” adds Carriera. “The group plans to hold the building long term. This is their second commercial real estate purchase in Florida.”

The 169,286-square foot property is located at 441 33rd St. North, approximately 2.5 miles west of downtown St. Petersburg, a few blocks west of Interstate 27 and one block east of 34th Street, U.S. Highway 19, Pinellas County’s major north/south artery.

Built in 1962, Skyline Fifth Avenue Apartments underwent a $30 million renovation that was completed in 2007. The apartments have vaulted ceilings, dual-pane glass, refinished kitchens, high-speed Internet access and stacked washer/dryers in the one-bedroom units and full-size washers and dryers in the two-bedroom units.

Shared amenities include controlled access, a swimming pool, a fitness center, a business center and a clubhouse.

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

16 South Florida Projects Flirt With $2,000 PSF Condos

 

MIAMI, FL--As the South Florida real estate market shows signs of stabilizing after years of decline, more than 15 luxury condo projects are flirting with a new pricing threshold: $2,000 per square foot, according to a new report from CondoVultures.com. 

Nearly three dozen condos are currently on the South Florida resale market for more than $2,000 per square foot to go along with an unknown number of new developer units priced at that same level, according to an analysis by the licensed Florida real estate brokerage CVR Realty™.

Bullish sellers of four of the luxury resale units are seeking prices even greater than $3,000 per square foot, according to new CondoVultures.com report.

 “Sellers always have the option of asking for whatever prices they want without any guarantees that the units will transact,” said Peter Zalewski (lower left photo), a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

“Interestingly enough, the frequency of condo transactions at prices greater than $2,000 per square foot has been on the rise since 2009.

“Foreign buyers with strong currencies and preconstruction contract holders who are opting to purchase condos rather than lose their sizable deposits are clearly a factor in the increased number of transactions above the $2,000-per-square-foot high-water mark.”

 Buyers have acquired at least five new or resale condo units in the first half of 2011 above the $2,000-per-square-foot level, putting the current market on pace to match the 10 transactions recorded at more than $2,000 per square foot in 2010, according to an analysis based on data from the Condo Vultures® Official Condo Buyers Guide™ series and the Florida Realtors association.

 

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

.

Scott Crossman of Crossman & Co. to participate in NAIOP Developing Leaders Mentor Program on Retail Property Development

ORLANDO, FL --- Crossman & Company, one of the largest retail leasing, management and development firms in the Southeast, will participate in the NAIOP Developing Leaders Mentor Program – a three-part educational series focused on the development process of retail, office and industrial properties.

Scott E. Crossman (top right photo), CCIM, chief executive officer at Crossman & Company, will lead Retail Development of the NAIOP Developing Leaders Mentor Program on July 26.

 Other speakers include Jeff McFadden (middle left photo) of Taurus Investment Holdings leading the Office Development and Doug Irmscher (lower right photo) of Duke Realty leading the Industrial Development segment of the Mentor Program.

 The NAIOP Developing Leaders Mentor Program is open to eight NAIOP developing leaders who will participate in the three-month program, which allows them the opportunity to meet selected developers, tour one of their developments, and ask questions in a small group setting.

Cost of the three-month program is $75 for NAIOP members, Crossman said, and only eight developing leaders will be admitted. To apply for admission to the Developing Leaders Mentor Program, email Nathan Eissler at neissler@realtycapitalfl.com

For more information, contact:

John Crossman, CCIM, President, Crossman & Company, 407-581-6218, jcrossman@crossmanco.com;

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

Berger Commercial Realty Corp. Broker Reese Stigliano Closes $6.76 Million Sale

 FORT LAUDERDALE, FL. – Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale, Fla., and serving clients around the state, announced broker Reese Stigliano (top right photo), SIOR, recently closed a $6.76 million sale for BF Accona, LLC, an affiliate of BankFirst of South Dakota.

 Stigliano represented the bank in the sale of a 21.49-acre, multifamily parcel, located at 715 Hank Aaron Drive in West Palm Beach, to Aaron Drive Holdings, a West Palm Beach-based company managed by developer and former Florida U.S. Senate candidate Jeff Greene.

 BankFirst of South Dakota took the title to the land in August 2009 after winning a $44.8 million foreclosure judgment against Hallandale Beach-based developer SWP Palm Beach. The property had been approved for 620 condominiums, 57 townhouses and 20,000 square feet of retail space, but construction on the project never began.

Aaron Drive Holdings paid cash, allowing the company to close in less than a month. Development plans and a timetable for construction are unknown.

 “Oftentimes buyers won’t close on undeveloped land until site plan approval is in place,” Stigliano said. “However, this property had extended entitlements, which was one of the main reasons they bought it. At the price they paid, they can either sit and land bank it or decide to build something economically feasible."

 At Berger Commercial Realty Corp., Stigliano's primary areas of focus are land sales, investment sales and office leasing. He was assisted in this deal by Berger Commercial Realty Corp. Project Manager Gordon Lunt, who's primary focus at the firm is land development management.

For more information, visit http://www.bergercommercial.com/

 Contact:

Marielle Sologuren

Pierson Grant Public Relations

6301 Northwest 5th Way, Suite 2600

Fort Lauderdale, FL 33309

Phone: (954) 776-1999, ext. 226

Fax: (954) 776-0290

msologuren@piersongrant.com

http://piersongrant.com/

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