Procacci Development Corp. Hurrican-Resistant Building Earns Zurich’s ‘Highly protected Risk” Status

  

Boca Raton, FL (Sept. 12, 2011) – Procacci Development Corporation, a leader in the creation of Class “A” office buildings constructed to resist Category 5 Hurricane-force winds, announced today that its insurance provider, Zurich, awarded the “Highly Protected Risk” (HPR) certification to the Miami-Dade County facility built by Proccaci for Keiser University (middle left photo).

Zurich’s HPR standard recognizes companies that go above and beyond commitment to hurricane and wind event safety.

 The building was designed and constructed in accordance with the developer’s “Built Procacci Strong” construction program. The facility’s hurricane-resistant attributes protect against water and damage from winds up to 156 miles per hour – well in excess of the requirements of the Florida Building Code.

 “We’re honored to have our Keiser University building earn Zurich’s coveted Highly Protected Risk status,” said Philip J. Procacci (top right photo), CEO, following an announcement at the Keiser University site within Crossroads at Dolphin Commerce Center fronting Florida’s Turnpike in west Miami-Dade County. “This acknowledges the vision we had in creating buildings ideally suited to withstand damage and outages related to tropical weather systems.”

 “Receiving this status means Keiser has lowered its risk profile, which typically results in receiving lower insurance premiums,” he continued. “It also means the school is likely to be up and running immediately after a major storm. For any enterprise, business continuity is critical to economic sustainability and lasting vitality.”

 Keiser’s Miami education facility is the 23rd building worldwide to earn Zurich’s HPR certification, according to Dale Seemans, senior risk engineering[1] consultant for Zurich. 

 To learn more about Zurich’s HPR, go to Zurich’s Hurricane Information Center at http://www.zurichna.com/zna/media/hurricaneinfo.htm or

contact Seemans at dale.seemans@zurichna.com.

 For more information, log on to http://www.procacci.us./

For more information about Zurich’s business in North America, go to http://www.zurichna.com/zna/media/news-releases/archive/boilerplate.htm

 Contact:

Todd Templin

Executive Vice President

Boardroom Communications

(954) 370-8999

(954)290-0810 (Cell)

(954) 370-8892 Fax

1776 N. Pine Island Road, Suite 320, Plantation, FL 33322

ttemplin@boardroompr.com

Marcus & Millichap Facilitates Sale of 22-Unit Apartment Community in Tampa, FL

  

TAMPA, FL,  Sept. 12, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Melrose Place (top left photo), a 22-unit vintage garden apartment community located in Tampa, Fla., according to Bryn D. Merrey (middle right photo), vice president and regional manager of the firm’s Tampa office. The sales price of $300,000 represents $23.52 per square foot.

Casey Babb (lower left photo), CCIM, a senior multifamily specialist, and Luis Baez, multifamily specialist both in Marcus & Millichap’s Tampa office had the exclusive listing to market the property on behalf of the Florida-based seller, a private investor.  The listing agents also secured the buyer of the property, a private investor from Windermere, Fla. 

Melrose Place is located at 13624 North 15th Street.  This 1960s vintage, garden apartment community is located in the University submarket of Tampa.

Units are a mix of 12 one-bedroom/one-bath housed in the main building; eight one-bedroom/one-bath housed in four duplex buildings and two two-bedroom/one-bath units in one duplex building. 

“At this point in the cycle, many distressed situations have been resolved, however, there are still many that have yet to be worked out and so we expect short sales and lender forced sales like this one, to continue at a measured pace for the foreseeable future,” comments Babb.

Press Contact: Bryn D. Merrey, Vice President/Regional Manager, Tampa

(813) 387-4700

Partial sale of waterfront multi-housing community in Hoboken, NJ closed by HFF

 FLORHAM PARK, NJ – HFF announced today that it has closed the partial sale of 333 River Street (top left photo), a 526-unit, Class A multi-housing community with 56,723 square feet of ground floor retail space in Hoboken, New Jersey.

HFF marketed the property on behalf of the seller, Starwood Capital Group Global. 

Applied Development Company purchased the 10 percent interest in the property for $10 million.  With this purchase, Applied now owns the entire building. 

333 River Street is located along the Hudson River Gold Coast in Hoboken, adjacent to Frank Sinatra Park (top right photo) and the new W Hotel, and within walking distance to the Washington Street retail/entertainment area and the Hoboken Terminal providing Path train, NJ Transit and NY Waterway ferry service to Manhattan. 

Completed in 2002, the property has studio, one-, two- and three-bedroom units averaging 923 square feet each. 

Community amenities include 24-hour concierge service, a fitness center, private screening room and lounge, billiards room, rooftop putting green and two children’s play areas.  333 River Street’s retail tenants include Fresh Ideas by Kings (grocer), Valley National Bank, 3 Forty Grill, Trinity, The Quays, CORT Furniture, Beyond Basic Learning and LA Boxing.

 The HFF team representing Starwood Capital Group Global included senior managing directors Jose Cruz (middle left photo) and Andrew Scandalios (lower right photo) and directors Jeffrey Julien and Kevin O’Hearn.

“333 River Street has a tremendous location with views of the Hudson River, New York Harbor and the Manhattan skyline, and is situated within a supply constrained market with lack of new product thereby ensuring long-term success,” said Cruz. 

 “Applied has completed their ownership with this last installment purchase,” added Cruz.

 Contacts:

Jose R. Cruz, HFF Senior Managing Director, (973) 549-2000, jcruz@hfflp.com                                                                               

Andrew G. Scandalios, HFF Senior Managing Director,  (212) 245-2425          

ascandalios@hfflp.com                    

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

krmurphy@hfflp.com             

HFF closes $43.15 million sale of Kroger-anchored shopping centers in Alpharetta, GA

 ATLANTA, GA – HFF announced today that it has closed the sale of Crabapple Shopping Center (middle right photo) and Saddlebrook Shopping Center (top left photo), two grocery-anchored shopping centers totaling 235,286 square feet in Alpharetta, Georgia.  

HFF marketed the assets on behalf of the seller, LaSalle Investment Management.  AEW Capital Management purchased both properties for $43.15 million free and clear of debt.

 Crabapple Shopping Center is situated at 12460 Crabapple Road at the intersection of Arnold Mill Road and Crabapple Road.  The 106,559-square-foot property was completed in 1995 and is 94 percent leased to tenants including Kroger, Domino’s Pizza, Subway, The UPS Store and Great Clips.

Saddlebrook Shopping Center is situated on more than 13 acres at 10945 State Bridge Road.  The property totals 128,727 square feet and is 96 percent occupied by tenants including Kroger, Pizza Hut, Tuesday Morning and Goodyear.

The HFF team representing LaSalle Investment Management was led by directors Jim Hamilton (lower left photo) and Richard Reid (lower right photo).

LaSalle Investment Management is one of the world’s leading real estate investment managers. With nearly 700 employees in 17 countries worldwide, the firm manages $48 billion (as of Q1 2011) of private and public property equity investments.

Founded in 1981, AEW Capital Management, L.P. provides real estate investment management services to investors worldwide. Currently, AEW, AEW Europe and AEW Asia manage over $47 billion of real estate assets and securities (as of March 31, 2011) on behalf of many of the world's leading institutional and private investors.

 For more information please visit www.aew.com.

Contacts

Jim R. Hamilton, HFF Director, (404) 942-2212, jhamilton@hfflp.com                                                                                    

Richard M. Reid, HFF Director,  (404) 942-2209, rreid@hfflp.com                                                           

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

krmurphy@hfflp.com             

Recreation One Stop (R1S) to Host Hospitality Outreach Event Oct. 17-19, 2011 in Bethesda, MD

  

  WASHINGTON, D.C., Sept. 12, 2011—Officials of Recreation One Stop (R1S), a program of  the federal government dealing with online travel, reservations, and vacation trip planning on public lands, today announced that it will host a unique “Explore Your America” outreach event October 17-19, 2011, at the DoubleTree by Hilton Hotel in Bethesda, Md. (top left photo) 

The purpose of the event is to familiarize hospitality focused technology and marketing groups with Recreation.gov (www.recreation.gov), one of the top recreation websites in the world with more than 11 million page views, 1.6 million reservations and $80 million in recreation fees on an annual basis.

  “Recreation.gov is the exclusive online portal to explore recreation opportunities available on U.S. federal lands,” said Lynne Beeson, R1S program manager. 

“This event is designed for businesses who may want to bid on the opportunity to sustain, grow and re-imagine this high volume online reservation portal.  We view this as an opportunity to rethink how to best market and support travel-related services on public lands. 

“Technology has taken huge strides over the past few years, and we believe there is tremendous opportunity to dramatically upgrade the way we interact with our customers.

For more detailed information, including registration for the “Explore Your America” event, please visit

http://www.team-psa.com/2011recreationoutreach/default.asp.

Contacts

Patrick Daly, Account Supervisor, Daly Gray, Inc. patrick@dalygray.com,

Office:  (703) 435-6293

Cell:  (703) 300-8289

 Lynne R. Beeson, R1S Program Manager, lbeeson@fs.fed.us

(706) 213-8427

First Guardian Group Affiliates with Sperry Van Ness International to Expand Services Nationwide

  

  

SAN JOSE, CA. (Sept. 12, 2011) – First Guardian Group, a premier San Jose, Calif. commercial real estate firm, and Sperry Van Ness International, one of the nation’s leading commercial real estate organizations,  announced First Guardian Group is now an independently owned and operated franchise of Sperry Van Ness International. 

The firm will operate as Sperry Van Ness/First Guardian Group, located at 100 Century Center Court, Suite 503 in San Jose.  This affiliation comes on the heels of Sperry Van Ness International’s recent signings of Promus Commercial in San Diego, Calif. and Bluestone & Hockley Real Estate Services in Portland, Ore.

 “We are committed to continuing Sperry Van Ness’ national expansion through targeted and strategic partnerships with top-tier brokerage firms,” said Kevin Maggiacomo (top right photo), chief executive officer and president of Sperry Van Ness International.  “First Guardian Group has a proven track record and we are pleased to be aligning our service platforms to strengthen Sperry Van Ness’ reach."

Sperry Van Ness/First Guardian Group will specialize in investment sales, leasing, property management, commercial loans and investments for commercial, retail, multifamily, student housing, medical office and industrial buildings.  Since the firm’s inception, First Guardian Group has completed more than $450 million in transaction volume and currently manages four million square feet of commercial space.

Paul Getty and Dinesh Gupta (middle left photo), co-founders of First Guardian Group, will serve as managing directors for the Sperry Van Ness/First Guardian Group team.  Getty will focus on asset and property management for the firm, while Gupta will focus on TIC asset and portfolio management and disposition.

In addition, Erik Carlson will serve as senior advisor with Sperry Van Ness/First Guardian Group.

For more information visit http://www.svn.com/.

Contact:  Megan Morales, 714) 273-2472, megan.morales1@gmail.com 

Pertria Announces New Relationship with Wells Fargo Private Mortgage Banker Dan Ross

 

Los Gatos, CA, Sept. 11, 2011 --(PR.com)-- On August 1st, 2011, after maintaining a relationship with Wells Fargo Private Mortgage Banker Dan Ross (top right photo) for over 10 years, Pertria made Ross an official member of their real estate team.

Potential candidates were interviewed but it was Ross who displayed the ideal combination of strategic and tactical experience now required along with high level access to technology and loan products.

Andrew Arild (lower left photo), Investment Broker and Short Sale Director at Pertria says of the affiliation with Mr.Ross: “Mortgage lending is now one of the number one concerns for buyers and sellers alike.

“Pertria needed a veteran loan officer with access to direct lending. Dan Ross and Wells Fargo Private Mortgage Banking provide the experience and access to underwriting backed by a wide array of products not available through conventional retail channels.”

Contact

Pertria

Robert Burba

408-357-7777

http://www.pertria.com/

750 Fraud Victims Find a Way to Fight Back Thanks to Timeshare Advocacy International

Mt. Juliet, TN --(PR.com)-- The mission at Timeshare Advocacy International, LLC is to reform the timeshare industry one client at a time. And just like the happy customers in the fast food restaurant commercials of old, Timeshare Advocacy International, LLC can now proudly say that they’ve successfully served 750 customers.

Timeshare Advocacy International, LLC (TAI) works in a sector of the vacation industry that has little or no oversight. And although TAI and consumers alike hope that timeshare developers will take action and police their industry, it hasn’t happened yet.

Even though there are rules and regulations for every state, consumers continue to be scammed by deceptive sales tactics. The sad fact is that the overwhelming majority of consumers have been told that timeshare selling fraud is “the way it is” and so they never try to get their cases heard. Many consumers feel overwhelmed in trying to fight such large multi-national corporations.

Now there is a company willing, ready and able to help fight to cancel timeshare contracts, and they have 750 happy customers under their belts. Timeshare Advocacy International, LLC are experts in the timeshare cancellation process and are willing to leverage their expertise to end the prohibited sales practices that occur on a daily basis.

Along with a depth of knowledge about how common timeshare fraud and common timeshare scams are committed, TAI has assembled a team to represent and help people who are victims of timeshare fraud, and also to help educate consumers before they purchase a timeshare.

TAI stands with and fights for their clients during the entire timeshare cancellation process. The experts at Timeshare Advocacy International, LLC are available for money saving interviews that can be shared with your audience.

Please check the website for additional information at www.timeshareaide.com.

For more info and interviews please contact: Sean Austin (1-877-350-7899).

Contact:

TIA

Sandra Gehring

407-328-8528                         

www.timeshareaide.com/

Davey Real Estate in San Jose, CA Launches Local Foreclosure Avoidance Campaign

San Jose, CA (PR.com) -- “Nationwide, one in seven mortgages are headed for foreclosure,” noted Kate Davey of Davey Real Estate.

While the statistics in San Jose and in the Silicon Valley are not nearly that high, Davey has developed an online report that reviews the increasing priority that major banks and the federal government have placed on giving homeowners viable options to foreclosure.

“Helping to keep homeowners out of foreclosure has become a national priority, Davey says, adding, “it’s important for homeowners who are underwater on their mortgage or overstressed financially to know that none of the parties involved want to see a foreclosure happen.

“Banks were blindsided by the foreclosure crisis of the past few years, and too many homes have been lost to foreclosure, but the landscape has significantly changed.”

“My recent report titled, 'Is Your Mortgage Payment Dragging You Down' provides information every homeowner should know if they are about to or have already missed mortgage payments,” states Davey. This community resource is available at

http://www.sanjoseforeclosurerelief.com/

For more information about the CDPE Designation, visit www.CDPE.com.

Contact:

Davey Real Estate

408-497-5283

Kate@BayAreaRealEstate.com

www.SanJoseForeclosureRelief.com

408-574-3300

CT REIA Announces September 2011 Workshop for New Real Estate Investors in Connecticut

West Hartford, CT (PR.com)-- The Connecticut Real Estate Investors Association, or CT REIA, is announcing the start of its 3-evening new investor workshop.

 This program will begin on Wednesday September 14, 2011. Additional dates for the program are Wednesday September 21 and Thursday September 29. This workshop will take place from 6:00 pm to 9:00 pm at the Crowne Plaza Hotel (top left photo), located at 100 Berlin Road in Cromwell, CT.

CT REIA is pleased to present New England's top real estate investor workshop for new investors. This program is designed to give new investors an opportunity to learn in detail how to get started in the real estate investing process. Experienced investors also participate in this program to find out what is working in today’s market.

 For more information on this and other real estate investing seminars from CT REIA, please call (860) 265-4414 or visit www.ctreia.com .

Contact

Connecticut Real Estate Investors Association

Joanne Brissette

(860) 265-4414

http://www.ctreia.com

SMJ Property Management Acquires 9 Unit Multi Family Building in Jersey City

Jersey City, NJ, Sept. 10, 2011 --(PR.com)-- SMJ Property Management, a family owned and operated New Jersey real estate investment company has announced the purchase of a 9 unit apartment property on Webster Avenue in the Heights section of Jersey City, according to Steven Porada, head of acquisitions at the company.

The asset commanded a purchase price of $565,000.

Investment specialist Steven Porada, assisted by brothers Michael Porada and Jonathan Porada, headed the off-market transaction with the long time local investor.

 This sale represents the first change of ownership in 16 years for this property and the second real estate transaction between the buyer and seller.

“We initially met the seller through a mutual friend. He suggested we meet because our properties were located only two blocks from each other. When we met I jokingly suggested he should sell us his building, and a few months later he did. A year later this is our second transaction with him,” says Michael Porada.

 The fully occupied property is comprised of nine-one bedroom units, all separate utilities, upgraded heating units, a newer roof and has been impeccably maintained.

“This is the third Hudson County apartment transaction we have closed in 2011 and the second in Jersey City. We prefer Hudson County for its proximity to Manhattan, access to public transportation, diversity, high density, favorable rents and low vacancy rates. We are currently working on acquiring a few more properties in Hudson County before the years end,” added Steven Porada.

Financing was quickly obtained from a local bank at a rate of 5.25%, fixed for 10 years amortized over 30.

Established in 2010, SMJ Property Management focuses on multi-family acquisitions in Hudson County, NJ. Their concentration is on mid-rise apartment properties primarily in the towns of Weehawken, North Bergen, West New York, Union City, Jersey City, Harrison & Kearny.

Contact  

SMJ Property Mangement

Steven Porada

201-640-8134

www.SMJmanagement.com

Todd Schroth with Re/Max Central Realty Launches Local Foreclosure Avoidance Campaign in Central Florida

Orlando, FL, Sept. 10, 2011 --(PR.com)-- Distressed property expert’s online report updates homeowners who are struggling with mortgage payments in Central Florida on solutions to avoid foreclosure.

“Nationwide, one in seven mortgages are headed for foreclosure,” noted Robert Todd Schroth of Re/Max Central Realty.

"While the statistics in Central Florida are not nearly that high, R. Todd Schroth has developed an online report that reviews the increasing priority that major banks and the federal government have placed on giving homeowners viable options to foreclosure.

“Helping to keep homeowners out of foreclosure has become a national priority,” R. Todd Schroth says, adding, “it’s important for homeowners who are underwater on their mortgage or overstressed financially to know that none of the parties involved want to see a foreclosure happen.

“Banks were blindsided by the foreclosure crisis of the past few years, and too many homes have been lost to foreclosure, but the landscape has significantly changed.”

Several entities within the Federal Government, along with major lenders, have retooled and restaffed in order to more effectively help homeowners to avoid foreclosure.

“Among the most troubling statistics,” R. Todd Schroth pointed out, “is the fact that the majority of homeowners who end up in foreclosure never seek the services of a real estate agent or attempt a short sale.”

A short sale occurs when a lender allows a homeowner to sell a property for less than the current mortgage amount owed.

Real estate agents who have received the Certified Distressed Property Expert (CDPE) designation have proactively sought out the most up-to-date expertise and insights to serve clients within the complicated and highly charged distressed property arena. CDPE agents are required to complete several days of intensive training and are held to a high standard of expertise, efficiency and ethics.

“My recent report titled Is Your Mortgage Payment Dragging You Down, provides information every homeowner should know if they are about to or have already missed mortgage payments.”

This community resource is available at www.CentralFloridaShortSalePros.com.

For more information about the CDPE Designation, visit www.CDPE.com.

For more information, please contact:

Robert Todd Schroth

407-247-4184 Todd@TeamSchroth.com

Equity Residential Declares Third Quarter Dividends

CHICAGO, IL--(BUSINESS WIRE)--Equity Residential (NYSE: EQR) today announced that the company declared dividends on its common and preferred shares.

A quarterly common share dividend of $0.3375 per share will be paid on October 14, 2011 to shareholders of record on September 20, 2011.

The following regular quarterly dividends will be paid on the company’s preferred/depositary shares:

 

Series

          Record Date

          Payment Date

          Amount/Share

(Series)   (Record Date)         (Payment Date) (Amt per share)

K     September 20, 2011     September 30, 2011     $1.03625 

N     September 20, 2011     October 17, 2011          $0.405 

Equity Residential is an S&P 500 company focused on the acquisition, development and management of high quality apartment properties in top U.S. growth markets. Equity Residential owns or has investments in 419 properties totaling 120,078 apartment units.

For more information on Equity Residential, please visit our website at www.equityapartments.com.

Contacts

Equity Residential

Marty McKenna, (312) 928-1901

Marcus & Millichap Sells Assisted Living Community with Cottages in Oklahoma City, OK

OKLAHOMA CITY, OK--(BUSINESS WIRE)--Marcus & Millichap Real Estate Investment Services, the nation’s premier senior housing brokerage firm, is pleased to announce the sale of Emerald Square Assisted Living Community (top left photo), a 73-unit Assisted Living Facility located at 701 North Council Road, Oklahoma City, OK. The property was acquired for $3,000,000.

Jacob Gehl (middle right photo) and Ben Firestone (lower left photo) in Marcus & Millichap’s Chicago Downtown Office had the exclusive listing to market the property on behalf of the Seller, a special purpose entity set up by a consortium of lenders who foreclosed on the property in 2010.

 Emerald Square had previously been owned by Sunwest Management, an Oregon based operator who filed for bankruptcy protection in 2009.

The property was placed into receivership in 2010, and the Receiver was a company based in North Carolina called Anderson Bauman Tourtellot and Vos.

The Buyer was a private equity fund from Dallas who specializes in repositioning distressed assets and who is relatively new to the senior housing industry. The buyer was secured and represented by Jacob and Ben.

“We are pleased to have been able to participate in the sale of another Sunwest-related community,” said Gehl. “The Sunwest story has created some unique opportunities for buyers to acquire distressed senior housing communities at prices far below their replacement costs. We feel fortunate to be able to have played such an active role in the restructuring of so many of these transactions.”

Emerald Square was constructed in 1996 and sits on 14.5 acres. The building is a single-story, purpose-built facility which offers assisted living and independent living cottages. The property was 70% occupied at the time of sale.

For more information on our senior housing group,  please visit www.mmseniorhousing.com.

Contacts

Marcus & Millichap

W. Walker Robinson, Operations Director

333 W. Wacker Drive, Suite 200

Chicago, IL 60606

(312) 327-5426

wrobinson@marcusmillichap.com

C&W negotiates 10,000-sf lease for ConvergEx at University Corporate Center 1 in Orlando, FL

 ORLANDO, FL – Sept. 9, 2011– Cushman & Wakefield Senior Associate Betsy Owens, and Associate Director Mindy Boehm announced the lease of 10,002 square feet in University Corporate Center I (top left photo) located at 3501 Corporate Boulevard to ConvergEx Group which is relocating from 11486 Corporate Boulevard.

Cushman & Wakefield represented the tenant in the long-term deal that commences in November.  

 Formed in 2006, ConvergEx Group develops technology tools and infrastructure for the institutional investment industry.

Contact: Brook Hines, Tel: 407-541-4401, brookhines@cushwake.com

www.cushwake.com