MBA Applauds House Passage of National Flood Insurance Program Extension

 WASHINGTON, DC-- The Mortgage Bankers Association (MBA) has applauded the Sept. 23 passage of legislation by the House that will extend the National Flood Insurance Program (NFIP) through September 30, 2011.

The bill passed the Senate Tuesday and will now go to the President for his signature. Without agreement on an extension, the program was set to expire on September 30, 2010.

 MBA's Chairman, Robert E. Story, Jr., (top right photo) issued the following statement.

"I want to thank the House for moving quickly to pass this much needed extension.

 "We need to have a flood insurance program in place. Without it, it is doubtful that home and building owners in areas of the country prone to flooding would be able to purchase insurance to protect their property against flood risk.

 “It is critical that we have certainty for lenders and borrowers who rely on this program to insure residential and commercial properties. We look forward to working with policymakers over the next year on a longer term extension."

CONTACT:  Sarah Tinsley, (202) 557-2730 stinsley@mortgagebankers.org

Colliers to Market 44,360 SF of Retail Space at The Atlantic,The Brookwood, Luxe and Serrano

ATLANTA, GA – ST Residential, a world-class asset management company consortium led by Greenwich, Conn.-based Starwood Capital Group (NYSE: STWD) and private-equity firm TPG of Fort Worth, Texas, along with WLR LeFrak and Perry Capital, has partnered with Colliers International-Atlanta to handle all retail leasing for ST’s newest condominium communities: 

The Atlantic, the finest homes in Atlantic Station; The Brookwood, high-end homes in Buckhead; Luxe, the boutique-style Midtown condominium tower and Serrano, the Sandy Springs community with Atlanta at its doorstep.

Colliers is in the process of securing high-end restaurant and retail concepts to fill the 42,000 total square feet available for lease at the four properties.

“This first-of-its-kind partnership between the ST Residential Consortium and the FDIC has put this retail product back on the market after sitting idle for two years and could serve as a test for future FDIC partnerships,” said Jon Barry (top left photo), Colliers International national marketing director-asset resolution team.

 “I believe that ST Residential’s choice of Atlanta as the launch city for this new brand speaks to their belief in Atlanta’s real estate future.”

Vice President Coleman Morris and Senior Associate Stephanie Lipp will lead the Colliers International leasing team.

Filling the commercial space in these signature communities will not only provide additional amenities for residents, but will also bring more shopping and dining options to  the surrounding neighborhoods.

Each ST residence boasts an unmatched level of design, detail, amenities and services. ST is infusing significant capital into many of the properties in order to further enhance their appeal to residents.  The company is focusing on building a lifestyle brand to provide a better experience for all of its homeowners.

 Contact:  traci buch, liz lapidus pr, 772 edgewood avenue ne, atlanta,ga 30307, p404-688-1466; f404-681-5204, http://www.lizlapiduspr.com/

The Marketing Directors Awarded Six Condominium Projects by ST Residential

ATLANTA, GA – ST Residential has named The Marketing Directors as the exclusive sales and marketing firm for five condominium projects in Atlanta and one in Houston. 

Comprising the industry’s most seasoned real estate professionals, The Marketing Directors provides creative solutions including market analysis, research, onsite sales and marketing, training, leasing and sales programs. 

In Houston, The Marketing Directors oversees sales and marketing at Mosaic on Hermann Park. 

 In Atlanta, The Marketing Directors handles The Atlantic, the finest homes in Atlantic Station; The Brookwood, high-end homes in Buckhead; Luxe, the boutique-style Midtown condominium tower; Serrano, the Sandy Springs community with Atlanta at its doorstep; and Horizon at Wildwood, high rise living in Wildwood. 

“We had the luxury of choosing partners in each of the cities where we have assets who are the best of the best,” says Wade Hundley, ST CEO.  “The Marketing Directors undoubtedly fit this bill.  They are the sales and marketing leaders in the multi-family housing industry and ST is proud to partner with them.”

“After going through a grueling process in which ST interviewed all of the real estate companies in Atlanta, including some more recognized national firms, I believe they chose The Marketing Directors because we are a forward-thinking organization, as is ST,” says The Marketing Directors President, David Tufts (top right photo). 

“Our years of local market knowledge paired with a global viewpoint really set us apart.  Because we have a singular focus and are condominium experts, it’s a perfect fit.”

“Tenacity, deep market knowledge and expertise helped us to prevail in the selection process,” says Uri Vaknin, senior vice president of The Marketing Directors.

The Marketing Directors offers a strategic approach to sales and marketing with its unparalleled Market Insights, led by Ph.D., Dr. Aletta Barnard.  It produces a quarterly report with sales statistics, trends and future indicators available exclusively to its clients.

“National breadth and local insight coupled with broad-based media and social media platforms were certainly a benefit that we brought to the table,” explains Betty Harbourt, executive vice president of The Marketing Directors.

For more information, visit http://www.themarketingdirectorsinc.com/ or find us on Facebook.

 Contact: Liz Lapidus /Traci Buch, Liz Lapidus PR, 404.688.1466, traci@lizlapiduspr.com

Stirling Commercial Group Negotiates Sale of 6,460 SF Office Condominium, Leases 9,812 SF at the Plaza in Downtown Orlando

ORLANDO, FL. --- Stirling Sotheby’s International Realty’s Commercial Group recently negotiated the sale of a 6,460 square foot office condominium on the 18th floor of The Plaza building on Orange Avenue and Church Street in downtown Orlando.

Stirling Commercial Group associates James Mincy  (bottom left photo) and John Kurtz (top right photo) negotiated the sale representing the buyer, ACM DT Properties, LLC.   The seller CNL Bank sold the property for $108 per square foot.

Mincy and Kurtz also represented ACM DT Properties in a three-year lease agreement with Centra Executive Offices for the newly acquired 6,460 square foot Plaza office condo.

Kurtz and Mincy brokered the lease of suite 1470 with 3,352 square feet in the south Tower of the Plaza representing the landlord, GW Investment, LLC and the tenant, Epoch Capital Group, LLC who leased the space for three years

For more information, contact:

James A. Mincy or John Kurtz, Sales Associate, Stirling Commercial Group 407-581-5550

Roger Soderstrom, Owner/Founder Stirling Commercial Group, 407-581-7890;

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

Commercial Florida Management Promotes Two Executives

ORLANDO, FL --- Commercial Florida Management, LLC one of the largest commercial property managers in Central Florida, recently promoted two senior executives.

Jeff Sweeney, principal in the firm, said Robert Horton (top right photo) was promoted to senior vice president of Commercial Florida Management.

Horton, who has more than 40 years of experience in commercial property management, joined Commercial Florida Management two years ago and was formerly vice president/portfolio manager for the firm.

Kerri Marinov (lower left photo) was promoted to vice president. Sweeney said Marinov joined Commercial Florida Management in 2008 and was formerly senior property manager.

About Commercial Florida Management

Orlando based Commercial Florida Management specializes in property and asset management of office, industrial, retail, land and investment properties.   Based on published statistics, the firm is the third largest management firm in the central Florida region managing more than seven million square feet throughout the state of Florida.

Contact:  Robert Horton, Vice President  (Office) 407-481-5403 ex.26408,  E. Ridgewood Avenue

Orlando, FL 32803