Grubb & Ellis|Commercial Florida appoints Natalie Feldman Senior Associate to focus on Distressed Properties, Multifamily and Land

TAMPA - Grubb & EllisCommercial Florida has appointed Natalie T. Feldman, CCIM, CIPS, as a senior associate in the firm’s Tampa office. She will focus on distressed properties, multifamily assets and land sales.

Feldman previously handled receivership services for the RTC including 13 consolidated portfolios through BEI/Ritz, and served as the director of marketing for RealPage, Inc., a national provider of apartment technology services. Additionally, she was a principal with the commercial services firm of Eisner, Feldman & Grant Inc. in Clearwater, Florida.

“Natalie is a highly experienced commercial property specialist and we expect her to play a big role in our growth in the Tampa Bay region,” said Mia Jarrell, managing director for Grubb & EllisCommercial Florida’s Tampa office.

Feldman graduated from the University of Texas in Austin and has 26 years of experience in commercial real estate.

About Grubb & EllisCommercial Florida: Grubb & EllisCommercial Florida is an affiliated commercial real estate services firm specializing in the leasing and sale of office, industrial, retail, land and investment properties. Currently Grubb & EllisCommercial Florida has 30 brokers divided among its Tampa, Orlando and Melbourne offices which serve the entire mid-Florida marketplace.

About Grubb & Ellis: Grubb & Ellis Company (NYSE:GBE) is one of the largest and most respected commercial real estate services and investment companies in the world. Our 6,500 professionals in more than 100 company owned and affiliate offices draw from a unique platform of real estate services, practice groups and investment products to deliver comprehensive, integrated solutions to real estate owners, tenants and investors. The firm’s transaction, management, consulting and investment services are supported by highly regarded proprietary market research and extensive local expertise. Through its investment subsidiaries, the company is a leading sponsor of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including public non-traded real estate investment trusts (REITs), mutual funds and other real estate investment funds. For more information, visit www.grubb-ellis.com.

Central Florida Commercial Property Market Will See Little Growth until the disposal of Distressed Properties

ORLANDO - Florida’s commercial real estate industry isn’t going to see much improvement until billions of dollars worth of distressed assets are disposed of, says one distressed properties specialist.

Jeff Sweeney, SIOR, president of Grubb & EllisCommercial Florida with offices in Orlando, Tampa and Melbourne, spoke at a luncheon recently hosted by the Central Florida chapter of Commercial Real Estate Women (CREW).

“There are billions and billions of dollars worth of assets that constitute bad loans in Florida, and until we cut away the dead wood, the market is going to be effected,” Sweeney said.
Sweeney plans to make the same comments on March 23 when he addresses the Central Florida Regional Council.

About Grubb & EllisCommercial Florida: Grubb & EllisCommercial Florida is an affiliated commercial real estate services firm specializing in the leasing and sale of office, industrial, retail, land and investment properties. Currently Grubb & EllisCommercial Florida has 45 brokers divided among its Orlando, Melbourne and Tampa offices to serve the entire mid-Florida marketplace.

About Grubb & Ellis: Named to The Global Outsourcing 100™ in 2009 by the International Association of Outsourcing Professionals™, Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies in the world. Our 6,000 professionals in more than 130 company-owned and affiliate offices draw from a unique platform of real estate services, practice groups and investment products to deliver comprehensive, integrated solutions to real estate owners, tenants and investors. The firm’s transaction, management, consulting and investment services are supported by highly regarded proprietary market research and extensive local expertise. Through Grubb & Ellis Realty Investors, the company is a leading sponsor of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including public non-traded real estate investment trusts (REITs), tenant-in-common (TIC) investments suitable for tax-deferred 1031 exchanges and other real estate investment funds. For more information, visit www.grubb-ellis.com.

Top Commercial Real Estate Executive Warns of Commercial Property Foreclosures at Tampa Distressed Property Summit

ORLANDO - The nationwide economic downturn will result in an increase in commercial real estate foreclosures this year, one of the region’s top commercial property executives told a Tampa real estate summit recently.

Jeff Sweeney, SIOR, president of Grubb & EllisCommercial Florida, with offices in Tampa, Orlando and Melbourne, moderated a panel discussion at the Tampa Distressed Real Estate Summit.

The Tampa Distressed Real Estate Summit was sponsored by the Real Estate Communications Group.

“Commercial property owners are facing some of the same sorts of financial challenges that home owners have been facing and the result is a substantial increase in the volume of distressed properties throughout Florida,” Sweeney told the group.

“Property owners who are losing tenants or granting concessions in order to keep their buildings filled are having difficulty making payments on their commercial property loans, and that adds tremendous pressure to banks,” Sweeney said.

Sweeney’s panel focused on adding value to distressed assets.

Ray Hayhurst, an associate at Grubb & EllisCommercial Florida, and Don Lombardi, who heads Commercial Florida Advisors, an affiliate of Grubb & EllisCommercial Florida in Tampa, also moderated panel discussions on evaluating commercial properties and partially completed construction projects.

Sweeney predicts that Grubb & EllisCommercial Florida will see a 30 percent increase in 2010 distressed commercial property sales over 2009 levels, as a result of the economic downturn.
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About Grubb & EllisCommercial Florida: Grubb & EllisCommercial Florida is an affiliated commercial real estate services firm specializing in the leasing and sale of office, industrial, retail, land and investment properties. Currently Grubb & EllisCommercial Florida has 40 brokers divided among its Orlando, Melbourne and Tampa offices to serve the entire mid-Florida marketplace.

About Grubb & Ellis: Named to The Global Outsourcing 100™ in 2009 by the International Association of Outsourcing Professionals™, Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies in the world. Our 6,000 professionals in more than 130 company-owned and affiliate offices draw from a unique platform of real estate services, practice groups and investment products to deliver comprehensive, integrated solutions to real estate owners, tenants and investors. The firm’s transaction, management, consulting and investment services are supported by highly regarded proprietary market research and extensive local expertise. Through Grubb & Ellis Realty Investors, the company is a leading sponsor of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including public non-traded real estate investment trusts (REITs), tenant-in-common (TIC) investments suitable for tax-deferred 1031 exchanges and other real estate investment funds. For more information, visit www.grubb-ellis.com.

CONTACT: Jeff Sweeney, SIOR 407-481-5387, 315 E. Robinson St. Suite 555, Orlando, FL 32801, www.commercialfl.com

Orlando Developer/Investor Ron Schwartz Launches Florida REO Managers, Inc. to Manage Distressed Properties Nationwide

ORLANDO - Central Florida developer and investor Ronald Schwartz has launched Florida REO Managers, Inc. (www.floridareomanagers.com) to provide receiver and property management services to lenders nationwide.

Schwartz said the firm has already contracted with several property lenders nationwide on a variety of projects.

“We specialize in overseeing and/or managing commercial and residential properties that are in foreclosure, or where a receiver is needed, or for properties that have already been taken over by the lender,” Schwartz said.

“Our principal focus is to protect and maintain the assets as Receiver appointed by the court until such time as the lender completes the foreclosure process on the property,” he said. “Florida REO Managers can then manage the property for the lender.”

Schwartz is a Special Trustee for the US Bankruptcy Court, Middle District of Florida and has more than 30 years of experience as a builder, developer and property manager.

For more information, contact: Ron Schwartz, Principal, Florida REO Managers, Inc. 407-342-3648 (direct)

Volume of Distressed Commercial Properties to Increase in 2010 as Lenders Respond Lethargically, Says Leading Broker

ORLANDO, Fla. --- The volume of distressed commercial properties---offices, retail buildings and industrial properties in danger of foreclosure---will likely increase substantially in 2010, says Jeffrey Sweeney, SIOR, president or Grubb & EllisCommercial Florida, one of the state’s largest commercial property companies with offices in Orlando, Tampa and Melbourne and associated with 130 Grubb & Ellis offices worldwide.

“Lenders have developed the internal processes to deal with distressed properties and are now ready to deal with them,” Sweeney said.

“Regulators have put significant pressure on banks to shed underperforming loans, and the real estate downturn has depressed the loan value of many commercial property assets,” Sweeney said. “Property sales volume will increase in 2010 but prices will be depressed,” he said.

The situation is a mixed blessing for commercial property companies, Sweeney said. Grubb & EllisCommercial Florida projects its brokerage business will grow by 10 percent or more next year due primarily to distressed property sales.

About Grubb & EllisCommercial Florida:

Grubb & EllisCommercial Florida is an affiliated commercial real estate services firm specializing in the leasing and sale of office, industrial, retail, land and investment properties. Currently Grubb & EllisCommercial Florida has 40 brokers divided among its Orlando, Melbourne and Tampa offices to serve the entire mid-Florida marketplace.

About Grubb & Ellis:

Named to The Global Outsourcing 100™ in 2009 by the International Association of Outsourcing Professionals™, Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies in the world. Our 6,000 professionals in more than 130 company-owned and affiliate offices draw from a unique platform of real estate services, practice groups and investment products to deliver comprehensive, integrated solutions to real estate owners, tenants and investors. The firm’s transaction, management, consulting and investment services are supported by highly regarded proprietary market research and extensive local expertise. Through Grubb & Ellis Realty Investors, the company is a leading sponsor of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including public non-traded real estate investment trusts (REITs), tenant-in-common (TIC) investments suitable for tax-deferred 1031 exchanges and other real estate investment funds. For more information, visit http://www.grubb-ellis.com/.

Contacts:

Jeff Sweeney, SIOR 407-481-5387 315 E. Robinson St. Suite 555 Orlando, FL 32801

Larry Vershel Communications 407-644-4142

Stirling Sotheby’s International Realty Promotes Joyce Marsh to Senior Business Development Consultant–Unique Properties

Stirling Sotheby’s International Realty Promotes Joyce Marsh to Senior Business Development Consultant–Unique Properties

ORLANDO, Fla. - Stirling Sotheby’s International Realty has promoted Joyce Marsh to Senior Business Development Consultant–Unique Properties for the firm’s elite “Workout Team.”

Marsh has held key positions in the firm for nearly three years and was most recently a managing director for Stirling Sotheby’s International Realty, said Roger Soderstrom, founder and owner of the firm.

Marsh, who attended New York School of Interior Design and Rutgers University, has more than 20 years of experience working with major developers, builders, designers and architects focusing on distinctive properties and the upper-tier luxury home market.

“Joyce Marsh is a highly respected senior advisor who has played a major role in turning around several projects and repositioning exceptional properties for sale,” Soderstrom said.

Marsh’s immediate focus will be to work with developers, homeowners and lenders to reposition distressed development projects as well as unique properties and luxury homes throughout Florida, Soderstrom added.

“I plan to take advantage of the opportunities within Sotheby’s International Realty’s http://www.stirlingsir.com/ rapidly expanding global market by developing new market strategies to reach more international investors,” Marsh said.

Marsh holds professional designations as a Certified Luxury Homes Specialist (CLHMS); Seniors Real Estate Specialist (SRES); Certified International Properties Designee (CIPS) and Certified Short Sale Professional (CSP). She is a licensed interior designer with specialized training in model home merchandising and home staging.

For more information, contact:
Roger Soderstrom, Owner/Founder, Stirling Sotheby’s International Realty 407.588.1260; http://www.stirlingsir.com/
Larry Vershel or Beth Payan, Larry Vershel Communications, 407.644.4142

About Stirling Sotheby’s International Realty:
Stirling Sotheby’s International Realty is affiliated with Sotheby’s International Realty, the largest luxury real estate brand in the world. Stirling Sotheby’s exclusive services include luxury residential, new homes, commercial, and property management, in addition to supporting builders, developers, lenders, and asset managers. The company operates five performance centers which serve all of Central Florida.

Home Sales Hottest in Three Market Sectors: Distressed Sales, First-Time Buyers and Vacation Homes

Home Sales Hottest in Three Market Sectors: Distressed Sales, First-Time Buyers and Vacation Homes

ORLANDO, Fla. - Central Florida home sales may still leave a lot to be desired but three market segments are warming up fast, according to Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty in Orlando.

“About half of all home sales in the Central Florida market today qualify as distressed sales,” said Soderstrom. “These include short sales and foreclosures,” he said.

That’s no secret, Soderstrom said, but two emerging market segments are much more promising.

“First-time home buyers seeking houses priced under $400,000 are mostly younger buyers, under 34, who were priced out of the market from 2004-2007, but are now able to purchase a home due to a 40-50 percent drop in the median sale price,” Soderstrom said.

Today’s up to $8,000 tax credit for first time home buyers is also enhancing current sales activity, he said.

Families seeking vacation homes, pre-retirement and retirement homes are starting to heat up the market, Soderstrom added.

“Many Americans, Canadians and U.K. residents are looking for homes priced from $125,000 to just under $300,000,” Soderstrom said, “and generally they prefer new homes or recently built homes and condominiums.”

“We are seeing substantially more activity in all three of these market sectors, but at the same time we’re seeing some recovery in the upper tier – $1,000,000 to $3,000,000 range – that Stirling Sotheby’s International Realty (http://www.stirlingsir.com/) is most recognized for. There are some amazing values and opportunities in the market right now and I don’t know when it will be a better time to buy a home,” he explained.

“It will be many years before we see a return to 2005 levels but we are seeing many bright spots here and there,” Soderstrom said.

For more information please contact
Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-588-1260

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

About Stirling Sotheby’s International Realty:

Stirling Sotheby’s International Realty is affiliated with Sotheby’s International Realty, the largest luxury real estate brand in the world. Stirling Sotheby’s exclusive services include luxury residential, new homes, commercial, worldwide auctions, property management, in addition to supporting builders, developers, lenders, and asset managers. The company operates five performance centers which serve all of Central Florida.

Builders, Developers Can Solicit Financial Support from Owners of Self-Directed IRAs

Builders, Developers Can Solicit Financial Support from Owners of Self-Directed IRAs

LAKE MARY, Fla. - Builders and developers who are finding it difficult to secure financing from traditional lenders can solicit owners of self-directed retirement accounts, says a leading funds administrator.

Glen Mather, president of Entrust Administrative Services, which administers more than 2,000 retirement accounts that total more than $200 million from offices in Lake Mary, Boca Raton and Jacksonville, told the Latin Builders Association in Miami recently that they should go directly to the source to seek alternative funding for worthy projects.

“It’s not just homes, it’s commercial too,” Mather told the more than 70 builders in the audience. “Builders and developers can gain access to finance through individual IRAs if they take the time to learn the correct approach,” he said.

Mather said IRAs can lend to companies, limited partnerships and individual ventures and serve as a stockholder.

Mather said one representative in the group was raising funds to finance individuals who wanted to buy mortgages.

“They are pooling resources to provide financing for distressed properties at a very low price so that individuals can acquire and remodel properties for resale or rental,” Mather said. “The IRAs would then become the lien holders---in effect, the bank---to make these transactions happen.

For more information contact:
Glen Mather, President Entrust Administrative Services, Inc. 407-367-3472 gmather@entrustfl.com;

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

Grubb & Ellis|Commercial Florida Appoints Nat Barganier Executive Director of Distressed Properties Group

Grubb & EllisCommercial Florida Appoints Nat Barganier Executive Director of Distressed Properties Group

TAMPA, Fla. - Grubb & EllisCommercial Florida, associated with 130 Grubb & Ellis offices worldwide, has appointed Nat Barganier executive director of the firm’s Distressed Properties Group, which provides receivership, management, repositioning and disposition services for special real estate assets throughout Florida.

Jeffrey Sweeney, SIOR, president of Grubb & EllisCommercial Florida, in Tampa, Orlando and Melbourne, said Barganier will also assume a key role in the firm’s expanding Multi-Family Advisory Group working closely with Sweeney, investment advisor Kelly Oliver and marketing coordinator Larry Leitzman in the disposition of multi-family properties.

Barganier, a graduate of Texas State University in San Marcos, has more than 25 years of experience in commercial real estate. Prior to joining Grubb & Ellis, Barganier was a veteran of Camden Property Trust (CPT:NYSE) and served as vice president of Multi-Family Investment for the Southeast Region. His responsibilities included multi-family development, acquisition and disposition of numerous projects with locations ranging from Washington D.C. to Boca Raton.

“We are pleased an executive of Nat Barganier’s experience has joined our firm and we expect him to play a major role in our growth,” said Sweeney.

About Grubb & Ellis:
Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies. With more than 130 owned and affiliate offices worldwide, Grubb & Ellis offers property owners, corporate occupants and investors comprehensive integrated real estate solutions, including transaction, management, consulting and investment advisory services supported by proprietary market research and extensive local market expertise.

Grubb & Ellis and its subsidiaries are leading sponsors of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including tax-deferred 1031 tenant-in-common (TIC) exchanges; public non-traded real estate investment trusts (REITs) and real estate investment funds. As of September 30, 2008, more than $3.8 billion in investor equity has been raised for these investment programs. The company and its subsidiaries currently manage a growing portfolio of more than 225 million square feet of real estate. In 2007, Grubb & Ellis was selected from among 15,000 vendors as Microsoft Corporation's Vendor of the Year. For more information regarding Grubb & Ellis Company, please visit http://www.grubb-ellis.com/.

For Information:
Nat Barganier, Grubb & EllisCommercial Florida, 813-639-1111 ext. 205
Kelly Oliver, Grubb & EllisCommercial Florida, 813-639-1111 ext. 262
Jeffrey Sweeney, Grubb & EllisCommercial Florida, 407-481-5387
Larry Leitzman, Grubb & EllisCommercial Florida, 813-830-7890 ext. 300
Larry Vershel, Larry Vershel Communications, 407-644-4142