Real Estate Network

Posts Tagged ‘South’

New York, NY (PRWEB) October 04, 2011

The proceeds of this $ 10 million loan were used by the borrower for the repayment of a $ 3.5MM in existing debt and cash out proceeds of $ 6.5MM.

According to Mr. Dragone, the Managing Director and team leader on this deal at Terrace Capital, Avtex Commercial Properties is an established developer, with a 25 year history in developing commercial property through the Carolinas, and turned to Terrace because of its ability to navigate the non-recourse, credit markets and provide innovative solutions for low cost, permanent financing in tertiary, rural real estate markets. The cities in which the properties were located in had sparse populations; Chesnee (population -868), Gaffney (pop- 12,414), Cayce (pop-12,528) and Greer (pop- 25,126). In addition to the tertiary markets, other challenges included the class C nature of the properties and modest tenant sales, as centers were competing with 10 Walmart Centers located in the region. Terrace, through various unique structuring techniques, was able to alleviate the aforementioned issues and deliver non-recourse financing, which included a $ 6.5MM, cash out.

The 10-year, fixed rate, non-recourse loan was amortized over 30 years and closed within 6 days of investment committee approval.

Terrace Capital is a direct lender and asset manager of private funds which provide debt or equity capital for commercial real estate transactions. The Company focuses on non-recourse loans of $ 5MM or greater on income producing retail, office, industrial, multifamily, self-storage and hotel properties throughout the continental United States.

Terrace has recently re-opened its non-recourse hotel lending program which focuses on strong flags, positive trends in REVPAR and sponsors with multiple properties and strong balance sheets.

The Firm is a leader in providing permanent mortgages and bridge loans solutions for wide range of real estate transactions.

For more information about Terrace Capital and the services it provides, go to http://www.terracecapital.com.

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Palm Beach Gardens, FL (PRWEB) June 16, 2011

KangaRent (http://www.KangaRent.com), a South Florida real estate brokerage 100% dedicated specifically to the residential rental market, is pleased to announce the opening of their full-service property management business. KangaRent Property Management aims to relieve the headache and stress that property ownership and acting as a landlord can often cause.

KangaRent Property Management will be dedicated solely to the actual management of client properties while KangaRent, the fastest growing real estate company in Florida with more than 80 Board Certified Realtors

Alameda, CA (PRWEB) November 18, 2011

Held during the last two weekends of October, the festival was sponsored by leading national real estate investment and acquisition firm Jamestown, the owner of Alameda South Shore Center, in partnership with ARPD, Spirit Halloween retail store and Peters Kettle Corn.

Together we were able to create an event that appealed to a cross-section of the community, from toddlers to teens to adults, and increased the visibility of our retail tenants, many of whom reported a growth in sales as compared to last Halloween, said Michael Phillips, Managing Director for Jamestown.

Highlights of the festival included:

ARPD Teen Haunted House – A main attraction was the spine-tingling, 8th Annual Teen Haunted House, which relocated to Alameda South Shore Center this year. Decorated and staffed by local middle and high school students, the haunted house raised nearly $ 1,400 to support ARPDs teen programs, with twice as many visitors coming through each evening as compared to previous years. ARPD also received discounts and donated resources from Alameda South Shore Center retailers including Spirit Halloween.

Peters Kettle Corn was onsite popping fresh kettle corn, also supporting ARPD. With help from ARPD and Alameda South Shore Center, we are happy to report we raised a total of $ 1,350, with 50 percent of the proceeds going back to ARPD. We are already looking forward to the next opportunity to give back to our community, said Peters Kettle Corn owners Peter and John Ngu.

Halloween Fashions – Spirit Halloween, which leased 12,535 square feet of space at the center through November, was another significant contributor to the festivals success. Spirit co-sponsored the Costume Fashion Show, which featured 13 local models in the latest Halloween fashions and attracted more than 200 attendees. Make-up was provided by Alana Dill and henna tattoos by Lena Tooney. Our partnership with Alameda South Shore Center was a success on so many levels. Most importantly, we felt part of a true community, and were so pleased to join Jamestown and other local organizations in supporting the ARPD Haunted House and its youth programs, said Tonia Farinha, Director of Stores, West Coast, for Spirit.

Costume Contest – A total of 120 contestants competed in the Costume Contest, also co-sponsored by Spirit Halloween. Sixteen prizes and giveaways were awarded in eight categories, from toddlers to teens, couples and families. Trick-or-treat bags provided by Alameda South Shore Center were filled with Halloween candy, crayons, merchant promotions, and Spirit coloring books. China Gourmet, Great Clips, Chipotle, Pearls Deluxe Burgers, Bladium Sports & Fitness, European Wax Center, Dress Barn, Sees Candy, Fruits & Chocolate, Bon Voyage and Panera Breads donated contest prizes.

Pumpkin Patches – One hundred and twenty-five third graders from Alamedas Washington, Franklin, Bay Farm, and Paden elementary schools participated in the Decorate South Shore Center Pumpkin Patch program. The carved and decorated pumpkins were featured in window displays and around Center Court Stage. Beverlys, Office Max and Trader Joes sponsored discounted arts & crafts supplies.

Merchant participants in the Halloween & Harvest Festival included Chipotle, Fruits & Chocolate, Panera Breads, Bon Voyage, Sees Candy, Great Clips, China Gourmet, Beverlys, PetCo, OfficeMax, European Wax Center, and Dressbarn. Other vendors included Bladium Sports & Fitness Club, Mr. Shaps Balloon Artist, the Little Psychic Shop, Party Hoops and Abbey Party Rentals, among others.

Jamestown

Founded in 1983 with headquarters in Atlanta, Ga. and Cologne, Germany and offices in New York City, San Francisco, Ca. and Washington, D.C., Jamestown is a leader in acquisitions and value added management. Over 28 years, Jamestown has generated approximately $ 8 billion in strategic investments. The company is focused across the risk spectrum with core, core-plus and opportunistic funds in two primary markets: 24-hour cities and Sunbelt territories with strong demographic growth. For more information, visit http://www.jamestownproperties.com.

Alameda South Shore Center

Alameda South Shore Center is an established, 594,000-square-foot open-air outdoor mall located in the Bay Area community of Alameda, Calif. The only major shopping mall on the 23-square-mile island, the recently renovated property is home to a variety of national retail stores and restaurants, including Kohls, Safeway, Trader Joes, TJ Maxx, Starbucks, Ross, Old Navy, Petco, Payless Shoe Source, Bed Bath & Beyond, Sushi House, Applebees, Lens Crafters and The Childrens Place. The center has maintained its prominence as a thriving retail destination for more than 50 years. For more information, visit http://www.alamedasouthshorecenter.com.

Alameda

The City of Alameda is located on a 23-square-mile island adjacent to Oakland in the San Francisco Bay Area. The community, home to the 270-acre Harbor Bay Business Park, Alameda College, 205-acre mixed use development Marina Village, is linked to nearby Oakland via three bridges and a tunnel system, and is served by bus and ferry lines for public transportation. Famous for its tree-lined streets and Victorian homes, Alameda was named one of the 100 Best Communities for Young People by Americas Promise Alliance in 2010. For more information on Alameda, visit http://www.cityofalamedaca.gov.

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Alameda, CA (PRWEB) November 23, 2011

Jamestown, a leading national real estate acquisition and management firm and owner of Alameda South Shore Center, is pleased to announce a full menu of holiday events, beginning on Black Friday, November 25 and continuing through the season. Alameda Mayor Marie Gilmore will be on hand to officially greet Santa upon his arrival, and kick off the biggest shopping day of the year at the Bay Area’s finest outdoor mall.

“We appreciate the energy and commitment that Jamestown brings to Alameda South Shore Center and our community, and it will give me great pleasure to represent the City of Alameda at the Black Friday celebration,” said Mayor Gilmore. “I look forward to greeting Santa, sharing in the excitement of his arrival with the many children attending the festivities and, hopefully, doing a little shopping!”

We look forward to welcoming Mayor Gilmore and the entire community November 25th, and to hosting a joyful celebration of the holidays, said Michael Phillips, managing director for Jamestown. Were particularly excited about the Santa House, which has been transformed into a festive winter wonderland for kids and their families to enjoy throughout the holiday season.

Designed to entertain and inspire every member of the family, Black Friday festivities feature classic holiday music, dance performances, tree trimming and lighting, and more.

Schedule of Events:

One highlight is the preview of Alameda Civic Ballets perennial holiday favorite, The Nutcracker.

“We are delighted to be performing excerpts of this classic at Alameda South Shore Center, a co-sponsor of The Nutcracker, for what we know will be an appreciative and enthusiastic audience, said Artistic Director Abra Rudisill.

Alameda South Shore Center Holiday Kick-Off Schedule of Events

Black Friday, November 25, 2011

11:00am

Boca Raton, FL (PRWEB) November 22, 2011

Many media reports focus on scenarios of why the housing market will take a long time to recover or why the economy is going to get worse. Clearly the economy needs some improving. But according to Real Estate Expert Lex Levinrad, when you start looking at current real estate price changes in bargain priced bank owned properties a different picture emerges that is much more optimistic than many current media reports would have you believe.

The S&P CaseShiller Home Price Index that was released on October 25, 2011 shows that 16 out of 20 Metropolitan Statistical Areas (MSAs) had price increases. While still cautious about real estate prices Case-Shiller sees a modest glimmer of hope with these data. According to Case-Shiller the situation is improving albeit slowly.

Lex Levinrad, founder of the Distressed Real Estate Institute says that “Anyone reading these reports would assume that there is not too much interest in investing in U.S real estate”. According to Levinrad, while this might be the case in the more expensive price points where the buyer is largely dependent on being approved for a mortgage, the situation is entirely different when the market is lower priced bank owned properties that are priced at bargain prices below $ 100,000.

According to Levinrad, real estate investors that are buying bank owned houses every single day see a different picture than the one depicted in the media. “Our office is being flooded with emails and phone calls from foreign investors that are looking to cash in on the opportunity to buy cheap bank owned houses directly from the banks,” says Levinrad. “Prices in many of our local South Florida markets have turned and increased quite dramatically,” says Levinrad.

According to Levinrad, Canadian, Asian, European, Russian and South American investors are scrambling to buy as many cheap bank owned properties as they can get their hands on. “Our office is selling most of our houses to foreign nationals especially Canadians who seem to be gobbling up South Florida real estate at a pace that is unprecedented,” said Levinrad.

According to the National Association of Realtors, foreigners purchased nearly 8% of all homes sold in the 12 months ending in March 2011. That is a sobering statistic. One out of every twelve homes sold last year were purchased by foreigners. That represents a whopping $ 82 billion dollars worth of U.S real estate being purchased by foreign nationals. According to the National Association of Realtors report most of the foreign buyers were Canadian (31%), Asian (26%), European (24%) or South American (11%).

In what states are foreigners buying the most property? According to the National Association of Realtors Report, 31% of all purchases were in Florida which is almost three times as much as buyers in California (12%). Other states with a large amount of foreign buyers were Texas (9%) and Arizona (6%).

About Lex Levinrad:

Lex Levinrad has been a full time distressed real estate investor since 2003. He has been involved in buying, rehabbing, wholesaling, renting, and selling hundreds of houses in South Florida. Lex is the founder and CEO of the Distressed Real Estate Institute, which trains new real estate investors how to wholesale, fix and flip properties often with no money down. Lex specializes in buying foreclosures, short sales and bank owned properties and offers mentoring and coaching programs, bus tours, boot camps and home study courses for real estate investors. Lex is an accomplished national public speaker and has shared the stage with some of the countries best real estate speakers. Lex has authored numerous books about real estate and is also the the founder of the Distressed Real Estate Investors Association. Lex is also a licensed realtor with Charles Rutenberg Realty. For more information about Lex Levinrad please visit http://www.lexlevinrad.com or call 800-617-2884.

Distressed Real Estate Institute

7050 W Palmetto Park Rd

Suite # 15-675, Boca Raton FL 33433

Tel: 561-948-2000

Fax: 561-948-0410

Email: lex(at)lexlevinrad(dot)com

Website: http://www.lexlevinrad.com

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Article by Wim Van Der Walt

Property finding services note that the scramble for Africa has started once again! That is, the scramble for South African coastal real estate. There are many reasons for this beach front property boon and the importance of this phenomenon should be considered carefully by astute international property investors. South African coastal real estate seems to exude a truly unique charm.

South African real estate agents are used to the queries from potential German, English, Dutch and American investors interested in buying beach front property. Germans who have bought here, and there are many of them, will for example tell friends and family of their experiences during a joyful South African holiday, and that will lead to more German interest and eventual coastal real estate buyers. And so too with the English, Dutch and American buyers.

But now there is a new wave of interest. South African property finding services report interest from the Chinese, the Russians and also affluent Africans outside our borders. Is Cape Town becoming known as the African coastal capital?

As stated, foreign property buyers will spread the word among friends and family and so interest will spread along those communication lines about South African property investment opportunities.

Why then this interest in South African coastal real estate?

The same scenario now unfolding in South Africa and more specifically in the Cape Town and Garden Route region, also occurred in Spain and is becoming apparent in Portugal. Breathtaking views, blue oceans and clean beaches in abundance, with property prices way below the overcrowded European counterparts.

Although real estate prices have increased tremendously in recent times, it is still comparatively cheap when compared to coastal property in Europe. With the exchange rate in favor of most foreign visitors, they find their friends’ advice correct in that one can buy a beach front property or apartment at a price not nearly possible abroad.

And according to the property guys, the great buys are not only at the top end of the market. Middle class families can afford to group together in buying South African coastal real estate for many years of happy holiday times. They will find to their amazement that some Hollywood film stars, royals and well known international faces quite often laze away at sidewalk cafe’s and frequent the range of night life venues.

Besides the relatively cheap property prices on the strength of international buying power, there is the amazing experience of many cultures interacting in a laid back manner through the summer holidays. It ensures an air of excitement way beyond the structured holiday style of stagnant destinations.

Seasoned international property owners not only rent their houses and apartments to other visitors coming in droves to enjoy Cape Town and the Garden Route, but they also use their own property as a base during the winter months. During the off-season, they make their way to the inland game reserves and unusual places of beauty like the Great and Small Karoo. Great art and even better music can be found in many locations in and around Cape Town in the Western Cape, but can also unearthed in small towns where eccentric artists and spirited musicians hide away.

With South Africa becoming more and more the port to the business effort into the African continent, South African property is a growing attraction. Business groups that come exploring and want to have a base for both business ventures and recreation in between business dealings, find the investment opportunities tempting and lucrative.

Perhaps you will choose to buy a plot in a security estate with Table Mountain or the Outeniqua Mountains as backdrop in order to build an own-designed house. Or you may opt for a lock up and go luxury apartment in Camps Bay Cape Town or in one of the West Coast’s coastal real estate developments in Langebaan. One thing is sure, though. Once the South African spirit gets to your soul, you will be coming back again. And again…

There is robust demand for high-end real estate properties if offered at the right location. With so much of agents available it is a tedious task to pick the appropriate agent for your dream house. This is a one time decision which can bring much of comfortless at the later stage. Venper property developers is a Chennai based reputed real estate agent. They have a strong client base build on the trust they have delivered. Chennai as a metropolitan has grown to greater heights with the amount of industries, IT and ITES companies flourishing in. The geographical location of Chennai as it is easily accessible to other metros in South India makes it a dream destination for buying and selling home. We understand the efforts you put behind building your dream house and visualize it as our dream. Hence we have dealt with our customers with utmost precaution. This has in turn reflected in the satisfaction acquainted by our esteemed customers. It is always important that you choose the right concern like Venper who have years of experience behind us to fulfill your dream. We offer clients informatively designed structures along with ultra modern amenities. We deliver a wide range of properties from flats, apartments, cottages, villas, housing complexes, independent homes in Chennai. We provide these properties at an affordable cost best in the market price without compromising with the quality. We have a zero tolerance policy towards the quality we offer. Our customers are the testimonials to the fact that buying and selling homes in Chennai is never been so easy without us. Apart from Chennai we are also involved with real estate properties all over Tamilnadu. We are always there for your service, keen in helping you out discover your vision. You will in reality feel the difference with the class of service we provide the moment you step into our office. You can have a wide range of choice as per your economic and social status from our diverse options. Venper will stand to its pride of being the pioneer among Chennai city developers.