Marcus & Millichap Names Bryn D. Merrey Regional Manager of the Year

 TAMPA, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has awarded Bryn D. Merrey (top right photo) with the firm’s Regional Manager of the Year designation for 2010. Merrey is a vice president and the regional manager of the Tampa, Fla. office.

The Regional Manager of the Year honor is given to regional managers who have demonstrated superior commitment, skills and results in their responsibilities of providing a high level of service to clients and who have provided the firm’s real estate investment professionals with an environment that supports their success and professional fulfillment, according to John J. Kerin (middle left photo), president and chief executive officer.

 “Bryn is being acknowledged for what he has accomplished within the four walls of the Tampa office and for his leadership in national projects,” says Kerin. “He is committed to his own self development and to the development of others.”

Merrey began his career with Marcus & Millichap in June 2004 as an agent in the Miami office, working in the office and retail product sectors. He achieved associate agent status in April 2005 and earned two sales recognition awards.

During his sales career, he has closed more than $125 million in real estate transactions. Merrey became sales manager of the Miami office in January 2007 and in June 2008, he was promoted to regional manager of the Orlando, Fla. office. He has been the regional manager of the Tampa office since January 2009.

Prior to joining Marcus & Millichap, Merrey opened and operated several different businesses, including a mortgage services firm. He received his Bachelor of Science degree in business administration with a concentration in finance from Babson College in Massachusetts.

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

M West Holdings Signs Major Tenant in Tampa, FL

SHERMAN OAKS, CA /PRNewswire/ -- M West Holdings is pleased to announce that Pivot Education, Inc. has signed a 10-year lease for approximately 13,000 square feet at 3020 Falkenburg Road, a 27,000 square foot office flex-industrial building located in the First Park development, part of the I-75 Submarket in Tampa, FL.

 "M West is pleased to welcome Pivot Education" said Karl Slovin (top right photo), President of M West Holdings. "We are confident that they will find the property to be ideally located and perfectly positioned to meet the needs of their new charter school and we look forward to working with them for many years to come."

 Pivot, which is part of the DeVry University family will establish its newest charter school location and occupy 50% the property by the third quarter of 2011. 

M West is the real estate asset manager for the building which has worked closely with the administration of Hillsborough County and directed the contractor and the leasing teams from Bishop & Associates, Inc and Steckroth Hospitality Group, Inc. to complete this transaction with remarkable speed and precision.

M West's Asset Manager Andrew Paulson (lower right photo)commented, "We are proud to announce this significant transaction that brings together a national education corporation, Pivot, and our outstanding property. Due to the team's expertise and dedication to excellence, the complicated build out was executed and delivered in a little over one month, allowing Pivot to open for fall classes on time."

M West Holdings, LLC is a fully integrated investment and management firm that owns and manages real estate in New York City, California, Texas and Florida. 

Founded in New York City in 1991 by father and son team, Bruce (top left photo) and Karl Slovin, the firm's portfolio includes office, MOB, industrial, multi-family, retail and other properties nationwide.

 Information regarding M West can be found online at www.mwestholdings.com

.CONTACT: Ashly Sells, 818-501-5600 x 107, asells@mwestholdings.com

InSite Group and The Carlyle Group Acquire Continental Bayside Hotel in Downtown Miami

  

WESTON, FL /PRNewswire/ -- A joint venture between Weston, Florida-based InSite Group and affiliates of Washington, DC-based The Carlyle Group has acquired the 243-room Continental Bayside Hotel (top left photo) in Downtown Miami.

The hotel is situated on Biscayne Boulevard across from the Port of Miami, Bayside Shops and Restaurants, and the American Airlines Arena (home of the NBA's Miami Heat). The surrounding area contains more than 16 million square feet of office space, state and federal court houses, and multiple world-class cultural and arts venues. 

"This acquisition presented the opportunity for us to acquire an underutilized hotel within the highly sought-after downtown Miami market," said Ben Shmul, President and CEO of InSite Group. "We are excited about the repositioning and look forward to enhancing the property's long-term value." 

The hotel is scheduled to undergo a full renovation and repositioning, re-launching in Q4 2012. The renovation plans include upgrades to guestrooms, public spaces and the hotel's façade. A new food and beverage concept will re-energize the lobby and the hotel, providing new venues in the pedestrian-friendly Biscayne Boulevard and Bayside area. The hotel will continue to operate during the phased renovation with minimal impact on guests.

"This marks our seventh hotel investment in the Miami/Fort Lauderdale area," said Thad Paul (lower right photo) Principal of The Carlyle Group.  "We continue to be impressed with the performance of the lodging market there, with strong demand from the metro's 17,000 new jobs, international travel and business, and the ports." 

CONTACT: Mina Doblmeier, +1-954-358-6800 x 121, for InSite Group

Atlantic | Pacific Companies Announces New Class-A Family Development Project in Port St. Lucie, FL

 MIAMI, FL – Atlantic | Pacific Development (A|P Development), the development subsidiary of Atlantic | Pacific Companies (A|P), announced the acquisition of 21.1 acres at Tradition in Port St. Lucie, Florida.  A|P’s future plans are to develop a Class-A Multi-Family apartment community.

The preliminary site plan for Grande Palms at Tradition will include 252 Class-A Multi-family units which will be a mix of one, two and three bedroom floor plans. The town of Tradition is a live, work, play environment that promotes an active lifestyle.

 Tradition evokes a conventional small town appeal with advanced amenities. It has various neighborhoods that surround a central retail district with shopping, dining, and entertainment. Tradition Square, the town center, is the heart of the community. It offers a variety entertainment including concerts, festivals, and many other events & activities.

The project will be an addition to A|P’s growing presence in the area. Nearby, Atlantic | Pacific Management (A|P Management), the property management and leasing subsidiary under A|P, is currently managing the Stuart Commons office building which operates as a Crexent Business Center.

 “The long term growth prospects for the Tradition Community are extraordinary.  The Torrey Pines Institute for Molecular Studies, the Vaccine and Gene Therapy Institute Florida, Mann Research Center and Martin Memorial Health Systems present significant demand generators supporting the development of new Class-A Multi-Family apartment communities,” says Randy Weisburd (top right photo), COO of Atlantic | Pacific Companies.

 For more information, please contact Randy Weisburd at rweisburd@apmanagement.net

. and visit  www.apmanagement.net

 Contact: Jessica Wade Pfeffer, President, Jessica Wade Inc., Publicity, Marketing & Partnerships, 7100 Biscayne Blvd., Suite 305A | Miami, FL 33138

Cell +1.305.804.8424 | Blackberry Pin 32EC7AE1

Jessica@jessicawadeinc.com

 www.jessicawadeinc.com

Johns Lake Point Starts Construction of 4,000-SF Community Facility in Winter Garden, FL

    

ORLANDO, FL --- Johns Lake Point (top left rendering), the luxury community located off Avalon Blvd. in Winter Garden, has started construction of a new 4,000 square foot community center that will include a junior Olympic size swimming pool, two tennis courts, fitness center, catering kitchen and a gathering area, along with a children’s playground.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty in Orlando, said the facility will open next April.

 Stirling Sotheby’s International Realty was appointed exclusive sales and marketing broker for nine new homes at Johns Lake Point earlier this year and the company’s associates team of Jennifer and Luis Gonzalez (middle right photo) are representing the developer at Johns Lake Point.

Altogether, 323 new homes are planned at Johns Lake Point in three distinct villages with 50-, 75 and 85 foot home sites.

Soderstrom said six of the nine ready-to-move-in homes at Johns Lake Point have sold and three remaining ready-to-move-in homes range in price from $299,990 to $424,990.

“All of the homes include custom upgrade finishes,” Soderstrom said.

The homebuilder’s custom model home, which is priced at $424,990, includes over $200,000 in upgrades and features 3,743 square feet of luxury living space with five bedrooms, five-and-one-half baths, and game and media rooms. The home is complete with a screen enclosed swimming pool with brick paver patio and brick paver driveway, Soderstrom added.

Media contact information:

Jennifer Gonzalez, Sales Executive, The Gonzalez Team, Stirling Sotheby’s International Realty  407-333-1900 or 321-377 3325 or the gonzalezteam@stirlingsir.com

. Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890; rsoderstrom@stirlingSIR.com

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

.   

Winston-James Development Signs Lease for Tenant Expanding Facilities at Beville Road Business Park in South Daytona, FL

SOUTH DAYTONA, Fla. --- Daytona Twin-Tec, which manufactures high performance components for motorcycles and racing cars, has expanded its facilities at Beville Road Business Park, located on Beville Road at SR 5A in South Daytona.

 Winston Schwartz, (top right photo) president of Winston-James Development, which is developing Beville Road Business Park, said Daytona Twin-Tec recently renegotiated its lease at Beville Rd. Business Park for 3,150 square feet of industrial space.

 The firm formerly leased 2,100 square feet of space Beville Road Business Park, Schwartz said.

For more information, contact:

Winston Schwartz, President, Winston-James Development, Inc 933 Beville Rd., South Daytona, Fla. 32119; 386-760-2555

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

NAI Realvest Negotiates Lease Renewal at Northpoint Center I in Lake Mary, FL

 ORLANDO, FL. – NAI Realvest recently negotiated a three-year lease renewal for 3,393 square feet of office space at 1025 Greenwood Lakes Blvd. in Lake Mary. 

 Tom Kelley (top right photo) CCIM, a principal in the firm negotiated the transaction on behalf of the tenant, Koos Technical Services, Inc. (KTS) who specializes in product development for wireless services.   Kelley also represented KTS for its initial lease at Northpoint five years ago.

 The landlord, Orlando-based North Point Limited Partnership No. I, was represented by Tim Perry of Duke Realty.

  For more information, contact:

Tom Kelley CCIM, Principal, NAI Realvest, 407-875-9989, tkelley@realvest.com 

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

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

 NAI Realvest negotiates three leases totaling 13,320 SF at three industrial centers in Orlando, FL

 ORLANDO, FL – NAI Realvest recently negotiated three leases totaling 13,320 square feet at three Orlando industrial centers.

 NAI Realvest principal Michael Heidrich (middle left  photo) negotiated a new 37-month lease agreement with Luis Flooring Corporation of Sanford for 3,000 square feet at 5032 Forsyth Commerce Rd., Suite 1.  Heidrich represented the landlord, Forsyth Central Commerce Park, LLC.  

 Heidrich also negotiated new lease for 2,000 square feet at Hanging Moss CommerCenter, 6112 Hanging Moss Rd.  Orlando based Carroll Bradford Land Management Group, Inc. leased Suite 420 at the center for 26 months and was represented in the transaction by Danny Rice of Colliers International.

 Heidrich negotiated a renewal agreement on behalf of  landlord Parkline Properties, LLC of Columbus, Ohio with Duane Norman Aviation, Inc. the Orlando-based tenant who renewed its lease of 8,320 square feet for another  38 months in Units 4 and 5 at 8350 Parkline Blvd.

For more information, contact:

Michael Heidrich, Principal NAI Realvest, 407-875-9989,  mheidrich@realvest.com

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

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

   

Crossman & Company Negotiates Three New Long Term Leases at Retail Centers Pinellas and Collier Counties

LARGO and MARCO ISLAND, FL. --- Crossman & Company, the Orlando-based firm that ranks as one of the largest retail property management, leasing and development companies in the Southeast, recently negotiated three lease agreements for retail space at shopping centers in Largo and Marco Island.

Leasing Associate Tracy Harrison (top right photo) represented the landlord in all three transactions totaling 4,955 square feet.  

 Sage’s West Bay Bistro leased 2,023 square feet for five years at Pinellas Shopping Center, 857 W. Bay Drive in Largo. 

At the West Bay Village Town Centre, 301 W. Bay Drive in Largo, La Chic Inc., a salon and spa, leased 1,632 square feet for three years.

 At the same time, Harrison negotiated a new lease at the Shops of Marco, 137 S. Barfield Drive in Marco Island.  Sapphire Dry Cleaners leased 1,300 square feet for five years at the retail center. 

 For more information, please contact

Tracy Harrison, Leasing Associate, Crossman & Company, 407-423-5400 

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

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

NAI Realvest Negotiates Lease Renewal for Engineering Consultants at the American Building in Maitland, FL

MAITLAND, FL– NAI Realvest recently negotiated a lease renewal for 3,795  square feet of office space at 1051 Winderley Place in Maitland. 

 Jack W. Lynch (top right photo), senior associate at NAI Realvest negotiated the transaction representing the tenant, CHP & Associates Consulting Engineers, Inc. who renewed its lease in Suite 101 of the American Building for another 44 months.

 The landlord, MPM Holdings, Inc. of Maitland was represented by Paul Reynolds of Coldwell Banker.

For more information,  please contact

Jack Lynch, Senior Associate, NAI Realvest 407-875-9989,  jlynch@realvest.com

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

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

CalPERS Seeks External Investment Partners for Multi-Asset Class Portfolio

 SACRAMENTO, CA – The California Public Employees’ Retirement System (CalPERS) is seeking external strategic partners to manage a multi-asset class portfolio and provide insights and analytics on asset allocation and portfolio construction decisions.

CalPERS expects to retain two or three firms to manage a total of up to $2 billion in assets. The solicitation begins September 23, 2011, and ends on October 21, 2011.

“The external partners will have discretion to invest in and move assets across a range of investments in the CalPERS portfolio, within a risk framework,” said Farouki Majeed (top right photo), CalPERS Senior Investment Officer, Asset Allocation and Risk Management. “The objectives of the strategic partnership are to generate excess returns and help us develop more dynamic asset allocation and risk-budgeting capabilities.”

 CalPERS will seek managers based on a set of minimum qualifications and questions. Finalists will be selected using a scoring and ranking system.

Investment managers can submit proposals through CalPERS Investment Proposal Tracking System. For information on minimum qualifications, the solicitation process and how to submit a proposal, go to the Investment Proposals page. Click on the “MAC Partners” link in the “Special Instructions for Open Solicitation” in the right navigation bar.

CalPERS is the nation’s largest public pension fund with approximately $224 billion in market assets. It administers retirement benefits for 1.6 million active and retired State, public school, and local public agency employees and their families and health benefits for more than 1.3 million members.

 The average CalPERS pension is $2,220 per month.

Contact:

External Affairs Branch

(916) 795-3991

Robert Udall Glazier, Deputy Executive Officer

Brad Pacheco, Chief, Office of Public Affairs

Contact: Wayne Davis, Information Officer

pressroom@calpers.ca.gov

CalPERS Invests $100 Million to Seed Hedge Fund

 SACRAMENTO, CA – The California Public Employees’ Retirement System (CalPERS) has invested $100 million in seed money with Breton Hill Capital, a Toronto-based global macro hedge fund with investments in equities, commodity and financial futures, and currencies.

The investment, part of the CalPERS Absolute Return Strategies program, is CalPERS first seed investment with a hedge fund manager. The pension fund also has approximately $500 million invested with customized funds of hedge funds focusing on emerging managers.

“The Breton Hill investment continues our efforts to source best-in-class investment talent,” said Joseph Dear (top left photo), CalPERS Chief Investment Officer. “Our agreement creates a strong alignment of interests between CalPERS and Breton Hill, and our seed investment will add value to our portfolio as Breton Hill successfully executes its strategy.”

Breton Hill’s investment approach is based on using momentum to earn risk-adjusted returns not just in equities but in a variety of asset classes. The firm employs tactical capital allocation, security selection and an active approach to portfolio risk management to improve risk-adjusted returns.

CalPERS launched its Absolute Return Strategies program in April 2002 and had $5.3 billion invested in it as of June 30, 2011.

CalPERS is the nation’s largest public pension fund with approximately $224 billion in market assets. It administers retirement benefits for 1.6 million active and retired State, public school, and local public agency employees and their families and health benefits for more than 1.3 million members.

 The average CalPERS pension is $2,220 per month.

Contact:

External Affairs Branch

(916) 795-3991

Robert Udall Glazier, Deputy Executive Officer

Brad Pacheco, Chief, Office of Public Affairs

Contact: Wayne Davis, Information Officer

pressroom@calpers.ca.gov

Foreigners Spend $318 Million Monthly On South Florida Real Estate

MIAMI, FL--Foreign buyers are spending an average of $318 million – primarily in cash – every month purchasing residential real estate in South Florida, according to a new report from CondoVultures.com.

International buyers from Latin America, Canada, Western Europe, and many other regions purchased more than $3.8 billion in residential real estate in the Miami - Fort Lauderdale - Miami Beach market in 2010, according to a new report from the National Association of Realtors in conjunction with a survey of Florida Realtors association members. 

More than 86 percent of the Florida transactions involving international buyers are being completed in cash as financing – while desirable - is proving difficult to obtain for many foreigners who have been attracted by the state's climate, available product, discounted pricing, and infrastructure, according to the report.

“Many foreign buyers are accustomed to purchasing real estate in cash in their home countries,” said Jenny Huertas (top right photo), a licensed international real estate broker with Bal Harbour, Fla.-based CVR Realty™.

“The challenge related to obtaining U.S. financing in today’s market is not necessarily a deal killer for most foreign buyers. Still, South Florida would probably benefit if financing were more readily available.”

Despite the financing difficulties of today’s market, foreign buyers are acquiring Florida properties at a strong pace given the fact that a majority of the owners have no intention of occupying their real estate for any extended period of time, according to the report.  

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

Grubb & Ellis Recruits Engineering Director for Eastern Region Property Management Clients

 TAMPA, FL – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that Josh Shoemaker has joined the company’s Property Management group as director of engineering for the Eastern Region.

 Shoemaker is responsible for overseeing engineering operations and working with clients to increase the efficiency and value of their assets by developing and implementing best practices for property management clients throughout the region.

 “Josh brings more than a decade of applied, relevant commercial real estate experience serving as a technical resource to property management and brokerage personnel,” said Randy Buddemeyer (top right photo) president of Grubb & Ellis Management Services.  “During that time, he has supported client relationship management and transitioned more than 140 million square feet of client-owned facilities and investment assets.”

 Prior to joining Grubb & Ellis, Shoemaker spent 12 years with CB Richard Ellis, most recently as director of account integration.  

 Shoemaker has acquired multiple licenses and accreditations within his field, including those of a certified OSHA 501 and DDC 4 instructor.

 Contact: Ted McDougal,  Phone: 312.698.6735  (o)                               

630.308.8144 (m).  Email:  ted.mcdougal@grubb-ellis.com 

HFF closes $13.42 million sale of Riverchase Village in Hoover, AL

  

                                                               

ATLANTA, GA – HFF announced  that it has closed the sale of Riverchase Village (top left photo), a 178,510-square-foot retail center in Hoover, Alabama, a southern suburb of Birmingham.

HFF marketed the property on behalf of the seller, Phillips Edison & Company.  Midsouth Capital Fund I, LLC purchased Riverchase Village for $13.42 million free and clear of debt.

Riverchase Village is located south of Interstate 459 adjacent to Riverchase Galleria, Alabama’s largest super-regional mall, about nine miles south of Birmingham in Hoover. 

The property is 97 percent leased to tenants including Best Buy, PetSmart and Bruno’s Supercenter.

The HFF team representing Phillips Edison & Company was led by Jim Hamilton (middle right photo), Richard Reid (lower left photo) and Brad Peterson.

Phillips Edison & Company is a fully-integrated retail real estate company with a portfolio of more than 26 million square feet of neighborhood shopping centers across the country.

The Midsouth Capital Fund was formed by Boyle Investment Company (Boyle) in late 2010 to target approximately $100 million in acquisition opportunities throughout the mid-South region, including Tennessee, Kentucky, north and central Alabama, Mississippi and Arkansas, with a special focus on Memphis and Nashville. 

Current initial capital committed stands at $45 million, with Boyle and related entities contributing more than $10 million of the total.

The Midsouth Capital Fund focuses on strategically located retail and office assets in submarkets within the above range of geographic target areas.  Boyle is a 78-year old real estate development firm with offices in both Memphis and Nashville, and is active in retail, office and mixed-use developments throughout middle Tennessee.

Contacts:

Jim R. Hamilton, HFF Director, (404) 942-2212,

 jhamilton@hfflp.com                                                                                                  

Richard M. Reid, HFF Director, mailto:rreid@hfflp.com,

(404) 942-2209,                                                                                                          

Bradley Peterson, HFF Managing Director, (407) 286-5224, bpeterson@hfflp.com    

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500

krmurphy@hfflp.com                                              

Investment sales team of Plummer and Harper joins HFF Los Angeles

 LOS ANGELES, CA – HFF announced that the team of Richard Plummer (top right photo) and Andrew Harper has joined the firm’s Los Angeles office.  The two producers will be a part of HFF’s investment sales group and will focus on office and land transactions throughout greater Los Angeles and the West Coast. 

Mr. Plummer, who joins HFF as a senior managing director, has more than 30 years of commercial real estate experience and has closed more than $5 billion in institutional property sales.  He most recently served as an executive vice president in Grubb & Ellis’ Institutional Capital Markets Group.  Prior to that, he spent 21 years in Cushman & Wakefield’s Capital Markets Group.  

Mr. Harper, who joins HFF as a director, has been involved in the disposition of more than $4 billion of commercial property since 2000.  Prior to joining HFF, he was a vice president in the Institutional Capital Markets Group at Grubb & Ellis.  Before that, he worked at Cushman & Wakefield, first as an appraiser and later as a director in their Capital Markets Group.  

“Richard and Andrew are highly successful brokers with deep client relationships in the Los Angeles and greater Southern California region and we are excited to have them join the growing HFF West Coast investment sales platform,” said Paul Brindley (lower left photo), senior managing director and co-office head for HFF Los Angeles.

Contacts: 

Paul Brindley, HFF Senior Managing Director, (310) 407-2100, pbrindley@hfflp.com                                           

 Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500

krmurphy@hfflp.com