Hendricks-Berkadia Negotiates sale of 185-unit Ravenwood Apartments in Kissimmee for $8.5 million

ORLANDO, Fla. --- Hendricks-Berkadia, among the nation’s largest and most active multi-family investment banking and research firms, recently negotiated the sale of Ravenwood Apartments off N. John Young Parkway in Kissimmee. Cole Whitaker, partner who heads Hendricks-Berkadia in the southeast region and associate partner Hal Warren negotiated the sale. Sale of the property, built in 1993 with 185 apartment units on 16 acres, qualified for low housing tax credits (LHTC) financing. The average rents are $632.00. Ravenwood Partners LLC paid $8.5 million to acquire the property from Ravenwood Partners of Kissimmee.

Forman Capital Provides $26 Million First Mortgage for 280-unit Condominium Inventory in Panama City Beach

PALM BEACH, Fla. -- Forman Capital, a direct lender for commercial real estate nationwide, recently funded a $26 million first mortgage secured by 280 units in the 709 unit community known as Shores of Panama located in Panama City Beach. Brett Forman, founder and president, said the loan was utilized to refinance the existing bridge debt, and provide greater flexibility for the sponsor’s business plan. Forman Capital took an entrepreneurial approach to the transaction, provided flexible terms, and closed in less than 30 days. Forman Capital’s platform combines real estate underwriting and analysis of traditional credit metrics, with integrity and speed. Since 2004 Forman Capital has provided creative and reliable capital solutions to its middle market clients across a diverse range of real estate asset classes and transaction types.

Stirling Sotheby’s International Realty Named Exclusive Sales, Marketing Agents for Palermo Vista in Longwood

LAKE MARY, Fla. -- Stirling Sotheby’s International Realty has been named exclusive sales and marketing representatives at Palermo Vista, an intimate community of luxury villas located off Longwood Hills Road in the Lake Mary / Longwood area. Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said construction of 16 two-story luxury Italian villas at Palermo Vista is already underway and the first villas will open for occupancy by the end of the year. Each villa offers 3,269 square feet of living space with three bedrooms, three full baths and a half bath, a family room, a private 450-square foot verandah patio on the second floor, plus an optional fourth bedroom or den. The gourmet kitchen includes designer solid wood 42-inch cabinets, solid surface granite countertops and stainless appliances, with custom finishes throughout. The spacious owner's suite features a luxurious bath with tub, separate shower, a double vanity, an oversized walk-in closet and private balcony. The main living area opens onto an 18' x 25' verandah patio through large glass pocketing doors and homebuyers have the option to include a gas fireplace and summer kitchen with gas grill. Each villa also includes a two-car garage. Stirling Sotheby’s International Realty has opened a model center at its Heathrow Marketing Center, located on International Parkway, and Luxury Home Specialists Sally Andy and David Warren are representing the property. Soderstrom said Palermo Vista ranks as one of the first communities of new luxury villa homes to come onto the market since the start of the U.S. recession six years ago. Luxury villas at Palermo Vista’s pre-opening prices start from the mid-$300s.

With Record Sales of 39 New Homes in May, Royal Oak Homes Foresees a Busy Summer, Fall

ORLANDO, Fla. --- Royal Oak Homes, the Orlando-based, family owned home builder with deep roots throughout the region, reported sales of 39 new single-family homes in 10 Central Florida communities in May. Steve Orosz, co-president of Royal Oak Homes, said sales of new homes in May will total a record $9 million in revenue. May sales surpassed the previous record of 37 sales which was set in April. “Royal Oak’s success is heavily influenced by being a local, family business. We are able to respond quickly to the market and really take care of our customers.” Orosz said. Builder Magazine ranks Royal Oak Homes the nation’s 186th largest home builder, and Orosz said he expects to break into the Builder Top 100 list next year. "Royal Oak and its sister company Hanover Capital currently control more than 4,000 lots in the Central Florida market." Orosz projects Royal Oak Homes will sell new single-family homes in 11 communities in 2013 for more than $60 million in revenue.

Lennar Appoints Senior Accountant, Staff Accountant

Tampa, Fla. --- Lennar’s Central Florida Division, which builds single-family, town homes and vacation homes in more than 50 communities in the Tampa Bay, Orlando and Brevard markets, has appointed Holly Gibbons senior accountant. Mark Metheny, president of Lennar’s Central Florida Division, said Gibbons earned her B.S. Degree in Accounting from the University of South Florida and has more than seven years of experience in accounting. Gibbons previously served as an accountant at Avantair in Tampa and Atkins, one of the world’s leading engineering firms. Metheny said he also appointed Cory Brady staff accountant. Brady graduated from Indiana University of Pennsylvania and has more than four years of accounting experience. Brady formerly served as staff accountant at Bishop McLoughlin Catholic High School and played an instrumental role in creating Diocese of St. Petersburg Catholic School system.

Lennar Opens Third Phase at Concord Station in Land O'Lakes

Tampa, Fla. – Lennar has opened the third phase at Concord Station located on SR 54 two miles east of Suncoast Parkway in Land O’Lakes in Pasco County. Mark Metheny, president of Lennar’s Central Florida division, said homesites in the new phase are available for single-family homes ranging from 1,909 square feet of living space to 3,889 square feet and are priced from the low $200s. Lennar built homes at Concord Station come with Lennar’s “Everything’s Included” pledge: a wide range of appliances, special features and add-ons at one “everything’s included” price. Amenities at Concord Station include a swimming pool, clubhouse and community center with catering kitchen, conference library, multi-purpose room, fitness center, galleria, office and lounge, along with tennis, basketball and picnic facilities. For more information, visit www.Lennar.com or call 888-317-7489 and visit the Welcome Home Center Monday – Sunday 10 a.m. to 6 p.m.

MERITAGE HOMES NAMES MATT O’BRIEN PRESIDENT OF TAMPA BAY DIVISION

ORLANDO, Fla. -- Meritage Homes, a top 10 U.S. home builder in 17 markets in the U.S., recently appointed Matt O’Brien division president in the Tampa Bay region. Fred Vandercook, southeast regional president of Meritage Homes based in Orlando, said O’Brien graduated from Wofford College in South Carolina with a degree in Business Economics and has more than 16 years of experience as a home building executive. O’Brien held executive positions at Pulte Homes before joining Meritage, Vandercook said. “Matt O’Brien is one of the most astute home building executives in Florida,” Vandercook said. “We expect him to play a leading role in our continued growth in the Tampa Bay region.” Meritage Homes builds single-family homes priced from the $300s in six communities in the Tampa Bay region: Basset Creek at K-Bar Ranch, Bella Casa and Crystal Preserve in New Tampa, Wellington Manor in Lutz, Estuary of Mobbly Bay in Oldsmar, and Hallandale Reserve in Carrolwood, and 18 communities in the Orlando region.

Freshorize USA LLC, Soft Landing Company at UCF Incubator, is Industry-leading aromatic soap maker that will target U.S. airlines, tourism industries

KISSIMMEE, Fla. – Freshorize USA, LLC, the U.S. division of an 11-year-old, award-winning British company, has opened its U.S. headquarters office in the University of Central Florida Business Incubation Program’s Kissimmee City Centre facility in downtown Kissimmee. Aziz Patel, president and chief executive officer of Freshorize, said his specialty products already dominate the European market and much of the Middle-East. He hopes to do as well in the U.S. if he can get U.S. airlines and tourism industry executives to take notice. Patel said Freshorize has two prestigious airline awards under its belt; The ITCA Mercury award and the highly coveted Crystal Cabin Judges award from The Aircraft Interiors Expo that took the airline industry by storm. The awards were a tremendous boost in gaining notoriety in a difficult market. Rafael Caamano, associate director of the program and Incubator site manager in Kissimmee, said Freshorize is the latest international company to take advantage of the incubator’s “Soft Landing” program that accommodates international companies that want to launch specialized or exploratory U.S. operations — and hire U.S. workers. Patel’s principle product — Freshorize — is a non-allergenic aromatic dispenser soap for safe, clean, sanitized hand washing. And it freshens the air with each use, Patel says. Freshorize is particularly useful in confined spaces – aboard planes, trains or cruise ships – and in high traffic tourist areas. But in public toilets with hand-washing sinks and soap dispensers, Patel says Fresh Orize has found its niche. “Odor is always an issue, especially in confined spaces,” Patel explained. Patel invented Freshorize 15 years ago after an airline flight. “I was seated in the back row across from the rest room and the smell was bothersome,” Patel said. “I saw an opportunity to solve a problem,” he said. Today, Freshorize supplies 90 percent of the UK airlines market, as well as Atlanta-based World Airlines and Canada’s Sun Express, and it exports products to the Mideast. In the U.S. Freshorize supplies Coach buses in Boston and Trailways. “We are a dominate provider in the European air passenger market and we foresee many new markets here in the U.S., including public transportation, tourism, schools and universities,” Patel said. The UCF Business Incubation Program’s unique “soft landing” program enables companies to test their products and services in Florida and the U.S. before locating permanent offices here.

Celebration Golf Launches Summer Kids Play Free Program at Eight Central Florida Golf Courses

CELEBRATION, Fla. --- Celebration Golf Management has launched its Summer Kids Play Free program at eight of the region’s finest golf courses, including Celebration Golf Club southwest of Orlando near Disney World. Kenny Nairn, chief operating officer at Celebration Golf Management, said 2013 marks the third year Celebration Golf Management has offered its Summer Kids Play Free program and he expects more than 1,500 youngsters will play free this summer at all 10 area courses that Celebration Golf Management owns or manages. Nairn said youngsters accompanied by a paying adult can tee off for free all summer long at Celebration Golf Club in Celebration, The Golden Bear Club in Windermere, Kings Ridge and The Legends in Clermont, Stoneybrook West in Winter Garden, Eagle Creek in East Orlando, Stonegate at Solivita in Kissimmee and Redtail in Sorrento.

Exam Plus FL in Winter Springs featured on Telemundo Orlando News Special Series

WINTER SPRINGS, Fla. -- Exam Plus FL, which provides administration of drug and alcohol testing programs for employers, governmental and law enforcement agencies, was featured on the Telemundo Orlando News special series “En las garras de las drogas” (In the Clutches of Drugs) that aired recently. Jose Batista, President and Chief Executive Officer of Exam Plus FL, said Telemundo Orlando news interviewed several professionals and rehabilitated people about how drugs are affecting our youth and the potential effects of legalizing marijuana in Florida. A recording of the 2-part interview can be found at https://www.youtube.com/watch?v=fxSNNUuzDwc and https://www.youtube.com/watch?v=D5zhmQVJPJo. Batista also recently appeared on Salsa FM 98.1 radio to talk about the medical marijuana initiative in Florida. “There are pros and cons of the initiative,” Batista said. Medical marijuana legalization could appear on the ballot in Florida in 2014. Exam Plus FL, a University of Central Florida Business Incubation Program company located in Winter Springs, opened three years ago and is a member of the Drug and Alcohol Testing Industry Association and the Substance Abuse Program Administrators Association.