Posts Tagged ‘Florida’

Gencom & Invesco Partner to Acquire The Ritz-Carlton, Fort Lauderdale, Florida

Wednesday, July 31st, 2013

Miami, Florida (PRWEB) July 24, 2013

Affiliates of Gencom and Invesco Ltd. have partnered to complete the acquisition of The Ritz-Carlton Fort Lauderdale, today announced Gary Lake, EVP of Gencom.

The Ritz-Carlton Fort Lauderdale is a waterfront property located on Fort Lauderdale Beach Boulevard and consists of 166 hotel keys and 34 condo-hotel units. The property includes 4 food and beverage outlets, a Spa and Fitness Center, and 25,000 square feet of meeting space. Built in 2007 as a St. Regis branded resort, the resort was converted to a Ritz-Carlton in 2008.

Gencom, an owner and operator of other Ritz-Carlton hotels, will assume asset management responsibilities at the resort. Invesco Ltd. made their investment through Invesco Mortgage Recovery Fund, a fund co-managed by Invesco Real Estate, Invesco Fixed Income, and WL Ross & Co. LLC.

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About Gencom

Founded in 1987 by Karim Alibhai, Gencom is a leading domestic and international investment and development firm specializing in the hospitality and residential real estate sectors. By aligning itself with prominent investors and institutional relationships, Gencom has maintained a strong market position with both luxury and mixed-use hotels and resorts with significant residential components, and in other hospitality-related investments that include both portfolios and single assets. The firm continues to opportunistically grow its portfolio holdings in key resort and urban markets in the United States, Canada, Mexico, Caribbean and Europe. Gencom is headquartered in Miami.

About Invesco Ltd.

Invesco is a leading independent global investment firm, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our retail, institutional and high net worth clients around the world. Operating in more than 20 countries, the company is listed on the New York Stock Exchange under the symbol IVZ.

About Invesco Real Estate

Established in 1983, Invesco Real Estate manages $ 52.1 billion of real estate investments, which includes $ 30 billion in direct real estate portfolios and $ 22.1 billion in real estate securities (as of March 31, 2013). With more than 340 employees in 18 offices worldwide, the group focuses on top-down market and property type fundamentals combined with bottom-up local market intelligence. Senior members of the management team have worked together for more than 25 years, contributing to the consistent implementation of Invesco’s investment strategy and resulting performance.

About WL Ross & Co.

WL Ross is an investment affiliate of Invesco Ltd. Led by renowned investor Wilbur Ross, Jr., WL Ross’ investment team has accomplished more than $ 300 billion of workouts around the world over the last 30 years. WL Ross has sponsored and managed more than $ 10 billion of equity investments in distressed securities. Visit http://www.wlross.com.

About Invesco Fixed Income

Invesco Fixed Income manages more than $ 230 billion in fixed income assets (as of March 31, 2013). With more than 150 investment professionals, the group offers a complete range of global and domestic asset classes, from cash to alternative fixed income, that seek to outperform through a variety of market conditions. Its investment vehicle options include separate accounts, mutual funds, collective trust funds and exchange-traded funds.







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This Week’s Hot Home News: New Florida Condo Where Owners Can Take Their Car to the Penthouse Under Construction – Jack Klugman’s California Horse Ranch Auction July 27

Friday, July 26th, 2013


Pompano Beach, FL (PRWEB) July 22, 2013

This week, TopTenRealEstateDeals.com takes a look at a new Florida condo building where owners will be able to take their car up to their living room – even the penthouse. Also, the July 27th auction of the California estate that TV’s “The Odd Couple” star Jack Klugman built to be near his horses.

Take Your Car to the Penthouse

Gil Dezer loves his collection of eight silver Porsches. So much, in fact, that he is probably the only person in the world with a full-sized Porsche hanging on a wall in his home as art. As a developer during the housing lull, he had time to do some creative thinking about future projects for the recovery of the market. The end result is the Porsche Design Tower now under construction on the ocean in Sunny Isles, Florida, near Miami Beach.

Porsche Design Group, originally catering to people with a love of high tech engineering, began designing cars in 1931 that provided the world with the ultimate form-function equation. With that success, it ventured into luxury fashion, luggage, accessories and more, attracting buyers from Porsche car owners, wannabe owners and people looking for innovative design. Now Porsche Design Group, in collaboration with Mr. Dezer, has created a high rise oceanfront condo that will take their owner’s cars to the front door. Even the penthouse!

Construction recently began on the 57-story, 132 unit condo tower on Collins Avenue, just north of Miami Beach. This is no ordinary highrise with great views, since one of the views – regardless of which floor owners might live on – will be of their car parked outside the front door. Going home to these condos doesnt require getting out of the car until it’s at the owner’s living room door. Arrival is via a glass elevator rising at 600 per minute above terra firma. The Porsche Condos range in size between 4,300 square feet to over 10,000 square feet and a penthouse over 14,000 square feet, and prices ranging from $ 4.7 to $ 13 million.

According to Robert Walsh, project director at TopTenRealEstateDeals.com, luxury condo construction and sales are booming in Sunny Isles and much of South Florida. Many of the new buildings are experiencing presales as early as two and three years before the completion date. In addition to the Porsche Design Tower, the Mansions at Acqualina is also under construction with 79 units and prices starting at $ 8 million and penthouses from $ 20 million to $ 55 million. Chateau Beach Residences will include 84 homes starting at $ 1.4 million and a two-story penthouse with a private swimming pool for $ 25 million. According to Walsh, all three projects are already over 50% sold out with estimated completion dates between 2014 and 2016.

Jack Klugman’s California Auction

Award winning star of stage, film and television, Jack Klugman is best known for his role in The Odd Couple, one of the 1970s most popular TV shows. Klugman was also a big fan of thoroughbred racing, engaging in breeding and racing his own horses. During this time he built a horse training facility on 40 acres in the wine country of Temecula, California, to train his own horses. When his horse, Jaklin Klugman, came in third in the 1980 Kentucky Derby, he said it was the biggest thrill in his life.

Jack’s Temecula horse breeding and training facility took up most of Klugmans free time so he built an 8,920 square foot Spanish-style home there in the grand old Hollywood tradition. The home has 5 bedrooms and 8 full baths with large spaces for entertaining both indoors and out. The main living area has vaulted beamed ceilings and a large curved staircase to the open second floor. Also on the property are four guest homes, a five hole golf course, pool and cabana, a koi pond, a vet clinic as well as barns, two riding arenas and multiple stalls.

Jack Klugmans thoroughbred ranch was previously listed at $ 12 million. The opening auction bid on July 27th will start at $ 2.99 million.

Real estate is never boring at TopTenRealEstateDeals. Check out today’s most entertaining and unusual real estate news stories of the week. News such as America’s top ten bargain mansions, government lighthouses for sale and JFK’s home collection.

Top 10 lists are available to media outlets for publication. TopTenRealEstateDeals free celebrity & famous home photos available at: http://bit.ly/toptenmedia.







South Florida Musicians and Dancers Set to Perform at Southland Mall as Part of their Festive Fridays Series

Saturday, May 25th, 2013


Miami, FL (PRWEB) May 16, 2013

Southland Mall has curated an exciting line-up of local musicians and dancers to perform during this months Festive Fridays series. Every Friday evening, Cutler Bay residents are invited to celebrate different cultures while enjoying live performances and activities inside the malls Center Court.

Below is a list of events for the month of May:

Sparkling Ocean Front Views and Amenities Galore on Amelia Island, Florida

Monday, May 20th, 2013


Amelia Island, FL (PRWEB) May 20, 2013

Whats the best place to be in coastal North Florida? Amelia Island, of course. Once on Amelia Island, what is the finest location? Most people would agree the Omni Plantation represents the highest level of lifestyle, amenities, quality and value in the most desirable location. Today, a furnished three bedroom, three bath penthouse condo at 1116 Beach Walker Villas in Omnis Fernandina Beach location has become available to the discerning buyer.

From the generous entry with its shuttered closet, a short flight of stairs leads to the main living area and its dazzling oceanfront views. The open kitchen design blends seamlessly with the living and dining areas that offer a 12-foot Anderson sliding door to the wide patio with its vistas over the tree canopy to the breaking surf below. Easy-care solid countertops and smudge-free white appliances make the kitchen ideal for families, while low-maintenance neutral tile floors add to the tropical atmosphere. Theres room for a good-sized dining table under the high arched ceilings, where a palm-blade ceiling fan augments the central air conditioning.

The master bedroom is done in neutral wicker and features a king-sized bed. Vertical blinds frame views of the intercoastal waterway, and peaked ceilings increase the sensation of light and space. The second bedroom shares the view and includes two twin beds for guests and some carpeting for warmth on chilly mornings. On the loft level, a third bedroom and full bath overlooks the living areas while drawing light from clerestory windows.

The condo complex includes a covered boardwalk to the beach and a delightful covered deck area for socializing or just contemplating the waves. Theres a resort-style community pool and a covered parking space. This unit is not only furnished, but includes all appliances including a washer and dryer in the dedicated laundry room with its deep sink.

Omnis topflight construction and far-reaching vision have stood the test of time, making this property an excellent choice for those whod like to make some upgrades. On the other hand, the unit is attractive as is and investors looking for a quality rental property will find that 1116 Beach Walker Villas has an enviable rental history. The present owners are even ready to work with new buyers on the rental program and provide full financial disclosure. Its really the best of both worlds.

1116 Beach Walker Villas is a Prudential Chaplin Williams Realty listing, which as seasoned experts know is a guarantee of excellence in representation and expertise. For Amelia Island real estate and Fernandina Beach homes, buyers and sellers alike trust Prudential Chaplin Williams for honesty and courtesy, in addition to a near-encyclopedic knowledge of the local market. To view this outstanding condo with its breathtaking water views or to see any of their other impressive local properties, call John Howard, Prudential Chaplin Williams Realty Sales Associate, Realtor, GRI at 904-738-0310.

About Chaplin Williams

Prudential Chaplin Williams Realty is a full-service real estate brokerage serving all of North East Florida and headquartered on Amelia Island. Chaplin Williams Rentals is a full-service professional property management company also located on Amelia Island, Florida. Both companies were established by owners, Dee Chaplin and Hugh Williams. The reputation of Prudential Chaplin Williams Realty is unsurpassed in Amelia Island, and the exceptional real estate listings they offer, including Amelia Beach oceanfront condos and Fernandina Beach homes, are some of the most exciting on the market today.







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Interinvestments Realty Announces Significant Sales Activity in Local Markets Has Launched South Florida as the Fastest Recovery Market in U.S. History

Wednesday, January 23rd, 2013


Miami, FL (PRWEB) January 16, 2013

The data gathered by Interinvestments Realtys research department indicates that the intense motion created by a sustained sales activity in recent months and a pent-up demand have contributed to price increases in the local real estate market, establishing South Florida as one of the most coveted areas to currently invest in. According to recent statistics presented by the Miami Association of Realtors, Miamis pending sales rose 52% in November compared to the same time the previous year. During the last twelve months, the local property values have increased eighteen percent, with 67% of all real estate transactions closed by international clients, of which 92% are cash-deals.

Most of the activity has come from Foreign Buyers taking advantage of the low prices, says Fabricio

Duarte, Interinvestments Realtys Listing Department Director. I foresee local buyers taking a more active role in 2013, primarily due to the new financing programs available and to the low mortgage rates.

The shadow inventory, which are the properties that are either in foreclosure and not yet been sold or homes that owners have delayed to put for sale on the market, until prices improve, will not impact the value of the market area. Many lenders have been slow to put their inventory up for sale, for fear to flood the market and drive prices down in a particular area, continues Duarte. I dont think that this will affect the market at all, as lenders are being careful not to create uncertainty in todays real estate market. Day by day, the inventories are reaching normal levels, therefore, prices slowly but surely, are going up, and any increase in shadow inventory will be absorbed quickly.

The national housing crash of 2006 hit at its hardest at a moment in time when South Florida was going through a real estate boom and a significant number of new luxury condominium developments were under construction or just being completed. This over-supply flooded the market creating an unprecedented opportunity to purchase luxury condominiums in prime locations at unbelievable prices. Still today, seven years later, we still have new-developers units scattered in the Tri-County area, which includes Miami-Dade, Broward and Palm Beach, adds Duarte.

The simple rule of supply and demand will continue to drive prices upward, says Rigo Plasencia, Sales and New-Developments Manager for Interinvestments Realty. The steady release of New-Development Communities and condos will add value and luxury to South Floridas housing market.

We dont view the current situation as a sales frenzy. We see it, as a steady adjustment back to a true market value and inventory level, continues Plasencia. Banks and large funds continue to have inventory that has not yet been released to the market. But the amount will not as significant as was previously anticipated, and they are doing an excellent job of managing the release of those properties onto the market.

We are very pleased to introduce the following properties. Each one represents a great investment and a potential for rapid appreciation due to its location, competitive prices and the latest standards in the new-construction market: