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New Caribbean Financial Services For Global Investors

Posted by Anna Heinz on Sunday, May 30th 2010     

Aug 29, 2008 – The property market in the Caribbean continues to be a healthy investment and with increased globalization of financial services, the region is also becoming a centre for economic activity. To complement their wide range of properties for sale in the region, Caribbean Land and Property are now offering a host of new financial services to support investors seeking to make the most of their money.

David Jessop, Director of the Caribbean Council writes that “hardly a week has gone by when one or another bank, private equity firm, hedge fund or privately wealthy individual has not been seeking advice on the opportunities available in the region.” To cater to the demand, Caribbean Land and Property Financial Services division now offers offshore banking, offshore company formation, economic citizenship and mortgages in the Caribbean. These sought after services are not just limited to property buyers but can be utilized by people all over the world who wish to save on taxes and create a secure haven for their personal and corporate wealth.

Manager of the Financial Services department Katie Sosna says “We want to help people make the most out of their money and advise them on options that can give them better returns on their capital. For instance, individuals may want to invest in property and yet be unaware that by setting up an offshore company they can purchase the same property and limit their tax and licensing liabilities for the period of the incorporation.”

Offshore banking and company formation has often been negatively associated with illegal activities but is actually a perfectly legitimate way for individuals and businesses to protect their funds from high taxes, economic and political instability, corruption, stifling bureaucracy and even personal and familial situations. Offshore company’s, often referred to as IBC’s (International Business Company), can be formed through Caribbean Land and Property in as little as one day. Offshore banking accounts can be opened simultaneously allowing clients to trade through their new company from day one.

Obtaining a second passport is an investment that can pay dividends economically, personally and politically. The Economic Citizenship program allows individuals and families to apply for a second passport in either Dominica or St Kitts & Nevis which are the only two Caribbean countries who still offer the program. The main benefits include an escape from excessive taxation, increased business opportunities, relocation advantages and easier travel with visa-free entry to over 100 countries. In addition the host country also benefits by using this significant foreign investment for improvements in infrastructure and cultural development.

Application for the Economic Citizenship program can only be made through a registered and government approved agency. Caribbean Land and Property Financial Services are pleased to be a trusted service provider to support and expedite a client’s application to secure a second passport. Additionally this service provides an experienced liaison between applicant and Government to ensure that there is no unnecessary travel until the time of the final interview. The process takes only 2-3 months to complete with approval being subject to thorough checks by an international agency.

The mortgage service for Caribbean properties will also be welcomed by potential investors who have traditionally found this facility hard to obtain in the region. The mortgage service from Caribbean Land and Property is available in 14 countries, offers up to 75% loan for land or home purchase and presents much needed support in this arena.

The Caribbean and Latin America is one of the world’s strongest growth areas and a survey released yesterday from the Economic Commission for Latin America and the Caribbean (ECLAC) states “In spite of the deteriorating international economic scenario, this year Latin America and the Caribbean will complete six consecutive years of growth, with Gross Domestic Product (GDP) rising 4.7% in 2008.”

The enhanced financial services now offered by Caribbean Land and Property are thus an additional boost to a thriving environment of economic stability and investment in the Caribbean.

category: Land, Street Talk
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Worst May Be Over For Apartment Owners

Posted by Ken Spohn on Saturday, May 29th 2010     

Apartment operator Associated Estates Realty Corp. has reported today that the worst may be over for the industry as it saw its lease rates posting an almost one percent gain in May, following the Ohio-based company’s steepest decline of 8.8 percent in December.

Company chief executive Jeffrey Friedman conceded that the upturn was very minimal but he stressed that it was still a positive sign of the looming turnaround that the apartment sector has been waiting, as more good news of misfortune reversals for many apartment-building landlords came trickling in.

Many operators are reporting that plunging rent and lease figures have been halted with some even revealing that occupancy is picking up as property research company Green Street Advisors observed that demands may have struck bottom in the first quarter, which is two quarters earlier than most experts have projected.

The rosy figures could be pointing to spiralling hiring rates even as the Labor Department had earlier revealed that hiring fluctuated in May though it did not ruled out that the recovering economy may be picking up on more jobs, which should mean more capacity too for workers to keep a rented unit or even upgrade as conditions further improve.

Analysts are also predicting that most renters would opt to remain on their lease instead of jumping into homeownership as the government-sponsored tax credit for first-time home-buyers were slowly winding down, with Mr Friedman offering that “renters could wait out for the turbulence to lapse in the single-family market.”

In a report by Axiometrics, nationwide rents and leases increased by 2.8 percent nationwide and in tracking the national apartment market scene, the agency said that biggest improvements were seen in Tacoma, Washington and San Jose, California, with gains of 94 percent and 6.5 percent respectively.

The tracking agency said that both locations derived their rent climbs to technology-related hiring as it added that East Coast markets also saw some pick ups with Miami collecting some four percent increase though nearby Cape Coral-Fort Myers suffered a dip of 4.8 percent while on the far end Las Vegas experienced a slight decline of 0.6 percent.

Axiometrics said that in spite of the gains, overall rents still remained five percent lower from the 2008 high as it cautioned that the recent recovery could still suffer some slow downs and even reversals should the job market declines further or the share market is hit by another meltdown.

On his part, Green Street analyst Andrew McCulloch warned that the unstable job market could eventually pull down the ongoing rent growth but apartment operators are upbeat that the good results seen so far would lead to substantial earnings guidance this year.

In that light, a number of apartment owners are scrambling to hike their lease levels in an apparent attempt to spike up earnings target with Denver-based UDR Inc leading the pack by imposing a four percent rent hike for its estimated 50,000 units nationwide, going to an average of $1,100 per month.

Also, AvalonBay Communities Inc had indicated last week that its 2010 earnings guidance would see some upward movements as it announced that this year’s operations funds would range from $3.85 to $4 a shares, which is an actual upgrade from the maximum $3.85 range set in February.

The company attributed its gains to encouraging employment levels seen earlier this year and further buttressed by household formation and homeownership trends underway in the area, with Sandler O’Neill & Partners upward revising its earnings guidance for several firms such as Equity Residential, UDR and AvalonBay.

category: Commercial, Multi Family
tags: , ,

Belize Real Estate Company Expands Despite World Wide Recession

Posted by Michael Martin on Saturday, May 29th 2010     

Belize Property Agents, one of the largest and fastest growing real estate companies in Belize beats the odds and expands during tough economic times. They have opened their second office in Dangriga, a south central town in Belize.

Sep 22, 2009 – Dangriga, Belize – Belize Property Agents.com, one of the largest and fastest growing real estate companies in the small Central American nation of Belize is opening a second office in downtown Dangriga.

The new office, located on Dangriga’s main street, is the second venue of business for the full service realty company which specializes in marketing and selling coastal properties and large tracts of farm and jungle land throughout the country of Belize. Their main office is located at Mile 6 on the Hummingbird Highway, near the town of Dangriga.

“We needed an office in a high visibility location in town to make sure we continue to serve our clientele who buy and sell Belize real estate to the best of our abilities”, said David Gobeil, Managing Partner and broker for Belize Property Agents.com.

“Dangriga is the main business center for the entire southern region of Belize”, said Gobeil. “Everyone in the Stann Creek District has to come here for some kind of business, whether it’s paying their taxes, renewing their immigration status, or just shopping for goods and services not available in their area”, he said, adding visitors to Dangriga can now buy or sell Belize real estate at Belize Property Agent’s new office.

Dangriga is located about two hours south of Belize City and about one hour away from Belize’s capital city of Belmopan. The southern-most town of Punta Gorda is about two hours away from Dangriga, and the northern border town of Corozal is about 4 hours away.

“I think our location in the geographical center of the country is one of the main reasons for our success in marketing and selling Belize real estate”, said Gobeil.

“Our company has seen unbelievable growth since we started three years ago. We now have four employees and almost three hundred listings all over the country”, he said.

Belize has seen a recent surge in expat migrations into the country, mainly because Belize is English speaking and has similar real estate ownership laws to North America and Europe.

Belize is only a two hour flight from the southern United States, and boasts some world-class attractions such as the largest barrier reef in the Northern Hemisphere and hundreds of thousands of acres of pristine rainforests and wildlife.

Real Estate values in some areas of the country have appreciated more than 200 per cent over the last five years, and Belize hasn’t witnessed any decrease in property values due to the global recession, according to Gobeil.

“I’ve noticed prices basically stabilizing, since there are relatively fewer buyers these days. But properties are still selling, and we’re on course to have our best year (in terms of sales) ever”, said Gobeil.

Some of the hundreds of listings at Belize Property Agents can be viewed on their website, www.belizepropertyagent.com.

category: Land, Street Talk
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Nicholas Pritzker Puts Mich. Mansion On Market

Posted by Michael Martin on Friday, May 28th 2010     

Posted Tuesday at 7:25 a.m. | Nicholas Pritzker, the chief executive and chairman of the Hyatt Development Corp. and a member of the Pritzker family, has placed his 7,325-square-foot contemporary-style mansion on 45 acres on Lake Michigan in Covert, Mich. on the market for $4.95 million.

Pritzker and his wife Susan, who also live on the Gold Coast, have been dividing their time between Chicago and California lately, which is why they listed their estate in southwest Michigan, said listing agent Karen Strohl of Prudential Rubloff.

“They really are orienting themselves toward California more, where they have another property,” Strohl said.

Built by Pritzker in 1992 and located about a two-hour drive from downtown Chicago, the four-bedroom wood mansion was designed by the architect Charles Fill. Features include 4 1/2 baths, a library, a family/media room, an exercise room with a locker room, a rec room, a billiard room, two mechanical rooms, walnut floors and doors, and large windows, Strohl said. The house has a 3,685-square-foot ground level, about 1,135 square feet of space above grade that contains the master suite and the family room/media room, and about 2,505 square feet below grade, she said.

“The house really takes advantage of big views of the lake with big windows,” Strohl said.

Outdoor features include 425 feet of private beach along Lake Michigan, a courtyard, an outdoor terrace with a fireplace and an in-ground whirlpool, she said.

“The area is very natural and heavily wooded with a lot of ravines, so the house was designed to fit very much into the landscape,” Strohl said. “The house also is not on that high of a bluff, which makes the property more valuable, since it isn’t such a hike down to the beach.”

Linda Folk of Prudential Rubloff’s New Buffalo, Mich. office is the co-listing agent for the property.

category: Celebrities, Residential, Street Talk
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Jeffrey Mulder Joins Holly Duran Real Estate Partners

Posted by Ken Spohn on Friday, May 28th 2010     

CHICAGO, Holly Duran Real Estate Partners LLC (HDREP) announced today that Jeffrey Mulder, a licensed Illinois real estate broker, has joined the firm.

“We’re thrilled to bring Jeff’s experience and expertise, as well as his enthusiasm to HDREP,” said Holly Duran, principal of the firm. ”He has a sophisticated skill set and proven ability to counsel large institutional clients on complex transactions, as well as build valuable new business relationships.”

With a background in real estate finance, valuation, investment, acquisitions and dispositions, Mulder is serving as HDREP’s in-house financial specialist. A Certified Commercial Investment Manager (CCIM), he is a recognized expert in the disciplines of commercial and investment real estate.

Prior to joining HDREP, Mulder was Vice President of Mark Goodman & Associates and a lead site acquisition agent for the firm, in addition to representing tenants in search of office space on a national basis.

From 2003 to 2007, Mulder served as a commercial real estate broker and Associate Director at Cushman & Wakefield, focusing on tenant representation and brokerage services. Throughout his career, he has successfully completed transactions for several of the largest global financial services companies, as well as major national and international manufacturing and service firms.

Mulder said: “I’m excited to join the team at HDREP and to put my skills to work here – for both corporate office and industrial clients alike. The firm thrives on finding creative solutions to meet the clients’ space needs, and these successful approaches and track record have clearly created a loyal base of long-term clients.”

Mulder earned a bachelor’s degree from Hope College in Holland, Michigan, where he graduated with honors in Business Administration. He is a member of the Urban Land Institute (ULI) and the Young Real Estate Professionals (YREP).

HDREP provides strategic real estate advisory and brokerage services and negotiates transactions for clients on a global basis, supported by a network of carefully selected pre-eminent local real estate providers in domestic and international markets.

category: Commercial, Featured
tags: ,

Maricopa County Down Payment Assistance

Posted by Ken Spohn on Thursday, May 27th 2010     

Jul 21, 2010 – Despite the economic downturn, down payment assistance funding is still alive and well for those seeking to purchase a home in Maricopa County, Arizona. However, there are certain eligibility requirements which must first be met by the prospective home buyer.

The following is a list which includes those requirements:

- Must be a first time homebuyer, plan to occupy as primary residence and not had prior ownership in the last three years (Certain census tracts located in various counties do not require applicants to be first time home buyers while offering higher income and sales price limits.)
- Contribute a minimum of $1,000 of personal funds
- No cash back or debt consolidation
- Required to complete a home buyer education class
- Must meet program’s purchase price and income limits
- House payment/total payment to income ratios cannot exceed 31/43%
- Credit score for all borrowers must be at 620 or above
- Independent professional inspection to be done on the property and obtain a
home warranty

For more information, please call Luisa Han at: 480-363-9488 / 480-363-9488 or visit: http://www.luisahangroup.com

category: Residential, Street Talk
tags: ,

Miami’s 1450 Brickell Office Tower Announces 200,000 SF Of Leases Signed

Posted by Ron Cady on Thursday, May 27th 2010     

May 27, 2010 – – 1450 Brickell Avenue, the premier ‘class-A’ office building in Miami’s Brickell Financial District, has finalized leases with Bancaja, H.I.G. Capital, Kempler Energy, law firm Ratzan & Rubio, Agri Commodity Trade, Preston III, global commodities trader Yntegra and another undisclosed signed tenant. 1450 Brickell developer Rilea Group, the property’s management company Rilea Management LLC, and the project’s exclusive leasing agent, Blanca Commercial Real Estate, also announced their relocations to 1450 Brickell. The new transactions – along with the September 2009 announcement that law firm Bilzin Sumberg will relocate from Wachovia Financial Center to 80,000 square-feet at 1450 Brickell – bring the total amount of leased space at the tower to more than 200,000 square-feet. Financial terms of the deals were not disclosed.

The Bilzin Sumberg and H.I.G. Capital transactions are among the largest office leases finalized in the Miami market over the past eight months.

Tere Blanca and Danet Linares of Blanca Commercial Real Estate represented landlord 1450 Brickell, LLC and Rilea Group in the transactions. Rashid Siahpoosh of Transwestern South Florida represented Ratzan & Rubio, which will relocate its existing office from the 54th floor of Wachovia Financial Center , the highest floor of any office building in Florida . Alan Kleber, John Marshall and Matthew Cheezam of Cushman & Wakefield of Florida represented H.I.G. Capital. Barbara Liberatore and Matthew Goodman of CresaPartners represented Kempler Energy, which is relocating from New York City and entering the Miami market. The other transactions did not involve co-brokers.

“Boasting the most convenient and accessible location in the Downtown Miami/Brickell Financial District and the highest standards in building infrastructure and finishes of any office building in South Florida, 1450 Brickell continues to attract top quality tenants,” said Blanca Commercial Real Estate President and CEO Tere Blanca. “The 1450 Brickell ownership team’s financial strength and commitment to the asset are also key factors for savvy tenants. As companies align their business goals with their real estate objectives and look to secure a twenty-first century work environment, the long term financial stability of an asset takes precedence. 1450 Brickell excels in this category.”

Other factors driving tenant traffic to 1450 Brickell include the building’s panoramic views, location within walking distance of more than 30 retail businesses, restaurants and high-end hotels, and close proximity to Miami ’s Metro Mover, which provides transportation throughout Downtown Miami. Tenants are also drawn to the building’s location away from the Miami River , affording them and their visitors the conveniences of the Brickell Financial District without the traffic headaches spawned by the bridges spanning the River.

“When evaluating our options for relocating our corporate headquarters, it soon became clear that 1450 Brickell is going to be South Florida’s premier office building for the foreseeable future,” said Ruth Brophy, Chief Financial and Administrative Officer of H.I.G. Capital. “We were attracted by the building’s strong ownership, accessible Brickell Avenue setting, and to the enhanced business environment that this location will present H.I.G. Capital. Our move to 1450 Brickell is emblematic of our long-term strategic commitment to Miami .”

1450 Brickell also stands out for its LEED Gold pre-certification and superior construction quality. The building is fabricated with above code large-missile impact glass from top-to-bottom, making its exterior curtain wall window system one of the nation’s strongest. The tower also sports an above code backup generator that can power tenants’ basic electrical needs during outages.

Office floor plates offer panoramic views and range in size from 24,000 square-feet to 26,400 square-feet. To learn more, please visit www.1450Brickell.com. For leasing information, contact Tere Blanca or Danet Linares of Blanca Commercial Real Estate at (305) 577-8850

category: Commercial, Finance, Street Talk
tags: ,

Vianda Responds To Controversial CNBC-TV Documentary “American Greed”

Posted by Ken Spohn on Wednesday, May 26th 2010     

FOREST PARK, OH — As part of their ongoing documentary series “American Greed,” CNBC Television first highlighted the controversial history of Berkeley Premium Nutraceuticals on its Wednesday, April 14, 2010 episode. At the end of the documentary, narrator Stacy Keach briefly mentions Vianda, the current owners of “Enzyte” and other former Berkeley products.

In response to “American Greed,” Vianda wants to assure its customers and the general public of the following:

- Following Berkeley’s bankruptcy in late 2008, Pristine Bay, a Cincinnati-based investment company, purchased the former Berkeley Nutraceutical’s assets, inventory, accounts receivable, and brand names, including “Enzyte.” Pristine Bay currently operates this new nutraceutical/herbal supplement company under the name Vianda.
- Vianda has not, and does not engage in the controversial marketing and billing practices of the former Berkeley Premium Nutraceuticals, which were highlighted in the CNBC documentary.
- Berkeley Premium Nutraceuticals founder Steven Warshak and his former staff of senior managers has never been involved with Vianda, or their popular product “Enzyte”, in any way.

“It is extremely unfortunate that CNBC made a connection between Berkeley and Vianda,” says Vianda President Chuck Kubicki. “Vianda’s new management and staff are 100% committed to serving its customers in an honest and straightforward way, with natural products to compliment healthy lifestyle goals. Unlike Berkeley, or many of our competitors, Vianda does not engage in the practice of “negative option” marketing, or confusing billing practices.

“Our employees deserve better than to be associated with the crimes of Berkeley,” says Kubicki. “Fairly represented, Vianda would have been described as an organization that is proud of our leadership in fair marketing practices and our commitment to total customer satisfaction.”

As the “American Greed” documentary pointed out, the “Smiling Bob” character remains a part of “Enzyte’s” television advertising. However, Vianda in no way uses “Smiling Bob” to make false claims about Enzyte in its advertising as Berkeley did.

“Smiling Bob is an advertising icon, and has been a key part of the Enzyte brand for over ten years. However, all of the television spots go through a rigorous compliance process, to make sure they comply with all regulatory requirements,” says Robert Riggsbee, President of Inside Media, Vianda’s advertising agency.

For reference, the Berkeley episode of “American Greed” continues to air on CNBC, and focuses on the controversial and unethical history of Berkeley Premium Nutraceuticals, and then-owner Steven Warshak. Berkeley Premium Nutraceuticals filed for bankruptcy on September 16th, 2008. Berkeley founder and President Steven Warshak was sentenced in 2008 to 25 years in prison.

category: Celebrities, Commercial, Street Talk
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Andrew Jubelt & Avant Capital Partners Announce Support For Sunrise Kids Nepal

Posted by Ron Cady on Wednesday, May 26th 2010     

DOYLESTOWN, PA — Sunrise Kids Nepal is delighted to have secured corporate sponsorship with Avant Capital Partners, New York.

Sunrise Kids Nepal was founded in 2009 to provide financial support and aid with the development of children’s orphanages in Nepal. Children in Nepal currently have extremely limited access to essential, basic human rights. Their vision is to dramatically change/improve this situation.

“We are delighted to be in a position to commit financial support to Sunrise Kids Nepal. Avant Capital Partners is proud of the work they are doing and excited about helping them achieve the projects they have committed to” Adam Luysterborghs, Managing Director.

Andy Jubelt is an experienced developer, owner and operator of commercial real estate including more than 10,000 multifamily and senior housing units. His experience includes over 25 years of financing, development, ground-up construction and property management of medium to large scale projects nationwide. Mr. Jubelt’s financing experience includes over $1,000,000,000 of both debt and equity funding from a variety of sources including traditional and private sources. He specialized in creative and innovative strategies to provide value-added services and enhance long term value for numerous complex transactions. As an experienced owner/operator, Andrew Jubelt brings his years of broad-based experience to the process of acquisition financing, recapitalizing under-water projects, including both debt and equity.

category: Commercial, Street Talk
tags: ,

Handler Thayer 2010 Real Estate Outlook

Posted by Anna Heinz on Friday, May 21st 2010     

CHICAGO, Family offices, real estate funds, and private investment partnerships are the likely buyers of distressed real estate assets. Institutional money will be slower to get back into the market and will stay focused on existing performing loan opportunities. Money for new construction, vacant land, and other more speculative real estate opportunities will also have to come from private funding sources, such as private investors and family offices. Access to the capital markets will depend upon whether or not Wall Street can restore investor confidence in the market for Commercial Mortgage-Backed Securities (CMBS).

(Logo: http://www.newscom.com/cgi-bin/prnh/20100419/CG89050LOGO)

Three of the biggest factors that will impact the market for commercial real estate in the balance of 2010 include:

  1. Community bank failures;
  2. Commercial loan maturities; and,
  3. Interest rates on commercial loans.

Increases in all of these factors will drive more commercial real estate activity. One of the remaining issues facing real estate investors is determining whether or not distressed properties can be turned around to create additional value. Experts disagree on whether or not we are in store for another round of devaluation. Many predict that interest rates will determine whether or not properties take another valuation hit. Higher interest rates will cause more defaults and make new financing more difficult, putting downward pressure on real estate values. Legislative changes, November elections, and other factors will also contribute to an interesting year in real estate.

“The bid/ask spread between distressed buyers and sellers is still too far apart to see a significant amount of real estate trading,” noted Steven J. Thayer, Chairman of the Commercial Practice Group at Handler Thayer, LLP. Mr. Thayer also noted, however, that “we will see a flurry of activity once community lenders are forced to liquidate their real estate assets.” Handler Thayer’s real estate practice includes the representation of family offices, real estate funds, banks, and private investors in the acquisition, development and disposition of real estate assets.

Mr. Thayer will be speaking at the Opal Financial Group: Real Estate Investors Summit: Dealmakers Conference, in Sunny Isles Beach, Florida, at the Trump International Beach Resort, on April 25-27, 2010. Mr. Thayer will be moderating a panel of leading commercial real estate professionals discussing the current state of the market for commercial financing.

The conference is being offered to developers, investors, banks, family offices, and other real estate participants and will focus on financing solutions for residential and commercial real estate markets. Registration information for the conference is available at www.opalgroup.net. You may also register for the conference by contacting Kim Tedaldi, at 212-532-9898 , extension 272.

category: Commercial, Featured
tags: ,
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