New York Mortgage Trust to Present at the Keefe, Bruyette & Woods 2016 Mortgage Finance Conference

May 27, 2016 0

NEW YORK, May 27, 2016 (GLOBE NEWSWIRE) — New York Mortgage Trust, Inc. (Nasdaq:NYMT) (the “Company”) announced today that it is scheduled to present at the Keefe, Bruyette & Woods 2016 Mortgage Finance Conference on June 1, 2016 at the Westin Grand Central Hotel in New York, NY.  The Company’s presentation is scheduled to begin at 11:20am.  Presentation materials will be available on the Company’s website at www.nymtrust.com in the “Events & Presentations” section beginning at 9:00am on June 1, 2016.

About New York Mortgage Trust

New York Mortgage Trust, Inc. is a Maryland corporation that has elected to be taxed as a real estate investment trust for federal income tax purposes (“REIT”). NYMT is an internally managed REIT which invests in mortgage-related and financial assets and targets residential mortgage loans, including second mortgages and loans sourced from distressed markets, multi-family CMBS, direct financing to owners of multi-family properties through mezzanine loans and preferred equity investments and other commercial real estate-related investments, Agency RMBS consisting of fixed-rate, adjustable-rate and hybrid adjustable-rate RMBS and Agency IOs consisting of interest only and inverse interest-only RMBS that represent the right to the interest component of the cash flow from a pool of mortgage loans. The Midway Group, L.P. and Headlands Asset Management, LLC provide investment management services to the Company with respect to certain of its targeted asset classes.

For Further InformationCONTACT: AT THE COMPANY Kristine R. NarioInvestor RelationsPhone: (646) 216-2363Email: knario@nymtrust.com

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Griffin-American Healthcare REIT IV Enters Agreement to Acquire Auburn Medical Office Building Near Sacramento

May 26, 2016 0

SACRAMENTO, Calif., May 26, 2016 (GLOBE NEWSWIRE) — American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT IV, Inc., announced today that the REIT has entered into an agreement to acquire Auburn Medical Office Building, an approximately 19,000-square-foot medical office building in the affluent Sacramento suburb of Auburn, California. The acquisition is subject to customary closing conditions and the satisfaction of other requirements as detailed in the agreement. 

Auburn Medical Office Building is 100 percent triple net leased to UC Davis Medical Group, a member of the UC Davis Health System, which has occupied the building since its construction in 1997.  Strategically located within a block of the 72-bed Sutter Auburn Faith Hospital, a number of healthcare services are provided in the building, including primary care and specialty services such as pediatrics, obstetrics and gynecology, imaging and laboratory procedures.

“Auburn Medical Office Building is an integral part of the regional healthcare delivery system with an enviable location in close proximity to a significant acute care hospital,” said Danny Prosky, a principal of American Healthcare Investors and president and chief operating officer of Griffin-American Healthcare REIT IV. “Perhaps more importantly, the building is 100 percent leased to UC Davis Medical Group, an exceptional tenant that has been in occupancy for nearly 20 years and whose parent company enjoys an institutional grade credit rating of Aa2 from Moody’s Investor Services.”

About American Healthcare Investors LLC

American Healthcare Investors is an investment management firm that specializes in the acquisition and management of healthcare-related real estate. One of the world’s largest managers of healthcare real estate, the company oversees a 29 million-square-foot portfolio valued at approximately $8 billion, based on aggregate purchase price, on behalf of multiple investment programs that include thousands of individual and institutional investors. As of March 31, 2016, this international portfolio includes approximately 590 buildings comprised of medical office buildings, hospitals, senior housing, skilled nursing facilities and integrated senior care campuses located throughout the United States and the United Kingdom. The company and its principals have completed in excess of $23 billion in aggregate acquisition and disposition transactions, approximately $13 billion of which have been healthcare-related. American Healthcare Investors is committed to providing investors with access to the potential benefits that healthcare-related real estate ownership can provide. For more information regarding American Healthcare Investors, please visit www.AmericanHealthcareInvestors.com.

About Griffin-American Healthcare REIT IV, Inc.

Griffin-American Healthcare REIT IV, Inc. intends to elect to be taxed as a real estate investment trust for federal income tax purposes beginning with its taxable year ending December 31, 2016, or the first year in which it commences material operations, and it intends to continue to be taxed as a REIT. Griffin-American Healthcare REIT IV intends to build a balanced and diversified portfolio of healthcare real estate assets, focusing primarily on medical office buildings, hospitals, skilled nursing facilities, senior housing and other healthcare-related facilities. The REIT is co-sponsored by American Healthcare Investors and Griffin Capital Corporation.  For more information regarding Griffin-American Healthcare REIT IV, please visit www.HealthcareREIT4.com.

About Griffin Capital Corporation

Griffin Capital Corporation (“Griffin Capital”), is a privately-held, Los Angeles headquartered investment and asset management company with a 21-year track record sponsoring real estate investment vehicles and managing institutional capital. Led by senior executives with more than two decades of real estate experience who have collectively closed transactions representing over $22.0 billion in value, Griffin Capital and its affiliates have acquired or constructed approximately 53 million square feet of space since 1995. Griffin Capital and its affiliates own, manage, sponsor and/or co-sponsor a portfolio consisting of approximately 36 million square feet of space, located in 29 states and the United Kingdom, representing approximately $6.3* billion in asset value, based on purchase price, as of March 1, 2016.

*Includes the property information related to interests held in certain joint ventures.

This release contains certain forward-looking statements, including statements with respect to the potential acquisition of Auburn Medical Office Building. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, the following: satisfactory completion of due diligence and other requirements to complete the potential acquisition; the ability of Griffin-American Healthcare REIT IV to raise sufficient funds to finance the potential acquisition; the uncertainties relating to the medical needs and local economy of Auburn, California; the strength and financial condition of Auburn Medical Office Building and its tenant; the uncertainties relating to changes in general economic and real estate conditions; the uncertainties regarding changes in the healthcare industry; the uncertainties relating to the implementation of Griffin-American Healthcare REIT IV’s real estate investment strategy; and other risk factors as detailed from time to time in Griffin-American Healthcare REIT IV’s periodic reports, as filed with the Securities and Exchange Commission. Forward-looking statements in this document speak only as of the date on which such statements were made, and we undertake no obligation to update any such statements that may become untrue because of subsequent events.

Contact: Damon Elder(949) 270-9207delder@ahinvestors.com 

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Latest CoStar Commercial Repeat-Sale Analysis: U.S. Property Price Growth Bounces Back After First Quarter Slowdown

May 25, 2016 0

WASHINGTON, May 25, 2016 (GLOBE NEWSWIRE) — This month’s CoStar Commercial Repeat Sale Indices (CCRSI) provides the market’s first look at commercial real estate pricing trends through April 2016. Based on 1,289 repeat sale pairs in April 2016 and more than 160,000 repeat sales since 1996, the CCRSI offers the broadest measure of commercial real estate repeat sales activity.

Several charts accompanying this release are available at

http://www.globenewswire.com/NewsRoom/AttachmentNg/58f21dfd-088d-4d49-9dec-e754a733172f

CCRSI National Results Highlights

  • COMMERCIAL PROPERTY PRICE GROWTH PICKED UP IN APRIL AFTER A SLOW FIRST QUARTER. Price growth among the two major CCRSI indices rebounded in the month of April 2016, with growth of 0.9% for the value-weighted U.S. Composite Index and 0.6% for the equal-weighted U.S. Composite Index. The increased property sales activity and price growth followed a slowdown in the first quarter of 2016 as investment activity throttled back amid global economic uncertainty. Quarterly growth in both U.S. Composite Indices in the first quarter of 2016 was the slowest since late 2012. However, the positive outlook for U.S. commercial real estate fundamentals suggests the asset class should continue to attract investment.

     
  • TRANSACTION VOLUME HAS BECOME MORE VOLATILE. Composite pair volume of $33.4 billion year-to-date through April 2016 was down 9.2% from the same period last year. The slowdown mirrored the broader financial market volatility resulting from early-year global economic concerns and particularly affected the investment-grade segment of the market. Transaction volume was down 11.2% in the investment-grade segment and 4.1% in the general commercial segment in the first four months of 2016 from the same period in 2015.  The deceleration in trading activity is likely to contribute to more modest price growth in 2016 from the record pace of the last two years.

     
  • OTHER CRE INVESTMENT LIQUIDITY MEASURES SHOW STRENGTH. The gap between buyers and sellers continued to narrow through April 2016. The average time on the market for for-sale properties dropped 19.7% in the 12-month period ended in April 2016. Further, the sale-price-to-asking-price ratio narrowed by 2.9 percentage points in the 12-month period ended in April 2016 to 94.3%, the highest this ratio has been since August 2006. The share of properties withdrawn from the market by discouraged sellers receded by 8.8 percentage points to 30.9% during the 12-month period ended in April 2016.

Monthly CCRSI Results, Data Through April 2016

  1 Month

Earlier
1 Quarter

Earlier
1 Year

Earlier
Trough to

Current
Value-Weighted U.S. Composite Index   0.9 %   0.7 %   8.2 % 91.9%1
Equal-Weighted U.S. Composite Index   0.6 %   0.3 %   8.4 % 51.1%2
U.S. Investment-Grade Index   0.6 %   0.4 %   6.2 % 65.4%3
U.S. General Commercial Index   0.7 %   0.3 %   8.7 % 40.1%4
1 Trough Date: January 2010  2 Trough Date: March 2011  3 Trough Date: March 2010  4 Trough Date: March 2011
 

Monthly Liquidity Indicators, Data Through April 2016

  Current 1 Month

Earlier
1 Quarter

Earlier
1 Year

Earlier
Days on Market   309     313     319     384  
Sale-Price-to-Asking-Price Ratio   94.3 %   94.1 %   93.5 %   91.4 %
 Withdrawal Rate   30.9 %   31.5 %   31.8 %   39.7 %
Average days on market and sale-price-to-asking-price ratio are both calculated based on listings that are closed and confirmed by

CoStar’s research team. The withdrawal rate is the ratio of listings withdrawn from the market by the seller to all listings for a given

month.
 

About The CoStar Commercial Repeat-Sale Indices

The CoStar Commercial Repeat-Sale Indices (CCRSI) is the most comprehensive and accurate measure of commercial real estate prices in the United States. In addition to the national Composite Index (presented in both equal-weighted and value-weighted versions), national Investment-Grade Index, and national General Commercial Index, which we report monthly, we report quarterly on 30 sub-indices in the CoStar index family. The sub-indices include breakdowns by property sector (office, industrial, retail, multifamily, hospitality, and land), by region of the country (Northeast, South, Midwest, and West), by transaction size and quality (general commercial, investment-grade), and by market size (composite index of the prime market areas in the country).

The CoStar indices are constructed using a repeat sales methodology, widely considered the most accurate measure of price changes for real estate. This methodology measures the movement in the prices of commercial properties by collecting data on actual transaction prices. When a property is sold more than once, a sales pair is created. The prices from the first and second sales are then used to calculate price movement for the property. The aggregated price changes from all of the sales pairs are used to create a price index.

More charts accompanying this release are available at

http://www.globenewswire.com/NewsRoom/AttachmentNg/3fdfdb0c-3afb-46b5-b1b1-9f7a61429d32

For more information about the CCRSI Indices, including the full accompanying data set and research methodology, legal notices and disclaimer, please visit http://costargroup.com/costar-news/ccrsi.

ABOUT COSTAR GROUP, INC.

CoStar Group, Inc. (Nasdaq:CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. LoopNet is the most heavily trafficked commercial real estate marketplace online with more than 10 million registered members. Apartments.com, ApartmentFinder.com and ApartmentHomeLiving.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. Through an exclusive partnership with Move, a subsidiary of News Corporation, Apartments.com is the exclusive provider of apartment community listings across Move’s family of websites, which include realtor.com®, doorsteps.com and move.com.  CoStar Group’s websites attracted an average of approximately 24 million unique monthly visitors in aggregate in the first quarter of 2016. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe and Canada with a staff of approximately 2,600 worldwide, including the industry’s largest professional research organization. For more information, visit www.costargroup.com.                                                                                                                

This news release includes “forward-looking statements” including, without limitation, statements regarding CoStar’s expectations, beliefs, intentions or strategies regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. The following factors, among others, could cause or contribute to such differences:  the risk that the trends represented or implied by the indices will not continue or produce the results suggested by such trends, including more modest price growth in 2016 as a result of deceleration in trading activity; the risk that, despite the positive outlook for U.S. commercial real estate fundamentals, the asset class is unable to continue to attract investment at the levels expected; and the risk that liquidity, transaction activity, investor demand, market supply, vacancy rates, absorption and commercial real estate pricing levels and growth will not continue at the levels or with the trends indicated in this release. More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in CoStar’s filings from time to time with the Securities and Exchange Commission, including in CoStar’s Annual Report on Form 10-K for the year ended December 31, 2015, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2016, each of which is filed with the SEC, including in the “Risk Factors” section of that filing, as well as CoStar’s other filings with the SEC available at the SEC’s website (www.sec.gov). All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

MEDIA Contact:Keosha Burns, Director of Public Relations, CoStar Group (kburns@costargroup.com).

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National Nonprofit Offers Rigorous Certification Program for Exclusive Buyer Agents

May 25, 2016 0

AVONDALE, Ariz., May 25, 2016 (GLOBE NEWSWIRE) — The National Association of Exclusive Buyer Agents (NAEBA), a nonprofit organization made up of real estate brokerages who only represent buyers, offers a Certified Exclusive Buyer Agent (CEBA) credentialing program. This credential is one of the most difficult to obtain in the real estate industry.

In order to qualify, applicants must work within a brokerage that does not take listings and never represents sellers, complete three education modules on topics such as ethics and financing, have been licensed for at least two years, have completed a minimum of 12 transactions as an Exclusive Buyer Agent, and pass a rigorous exam. Applicants must also agree to uphold NAEBA’s Code of Ethics and Standards of Practice, which require agents to uphold all fiduciary duties to their clients including putting their clients’ interests above their own. Unlike many other real estate certifications, the Certified Exclusive Buyer Agent credential is not earned for life. It must be renewed every three years by completing continuing education courses.

 

Marketing the Certified Exclusive Buyer Agent (CEBA) program is a timely decision for NAEBA. According to NAEBA President Dawn Rae, “With agents calling themselves Exclusive Buyer Agents when they don’t work with buyers exclusively, we wanted one more way for home buyers to ensure their agent is not only highly qualified to serve them, but also will truly represent them throughout the entire transaction.”

 

In addition to the Certified Exclusive Buyer Agent credential, agents can go on to earn the Certified Exclusive Buyer Agent – Master (CEBA-M) credential by completing additional requirements. For more information, visit http://naeba.org/certified-exclusive-buyer-agent.

 

About NAEBA

The National Association of Exclusive Buyer Agents (NAEBA), created in 1995, is an organization of companies dedicated to representing only buyers of real estate. NAEBA member brokerages do not list homes for sale and never represent sellers. This restriction to one side of the real estate transaction avoids conflicts and ensures that the interest of the home buyer is protected at all times from house-hunting and negotiation to inspection, financing and closing.

Kimberly Kahl, CAENAEBA Executive Director623-932-0098 or 888-623-2299www.naeba.org

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‘Farm Chic’ to Distinguish the Style at The Summit at Fritz Farm

May 24, 2016 0

LEXINGTON, Ky., May 24, 2016 (GLOBE NEWSWIRE) — When The Summit at Fritz Farms opens in March 2017 in Lexington, Kentucky (bit.ly/1XrHu1F) it will be a reflection of this renowned city’s culture of thoroughbred horse breeding and Kentucky bluegrass landscapes. Located on 60 acres, the $156 million mixed-use experiential development will be authentic to the history of the property and the beauty of the region. 

“Fritz Farm dates back to the Revolutionary War and includes many beautiful artifacts on the property,” said Lindsay Bayer-Shipp, retail brand strategist for Bayer Properties.  “We feel responsible for honoring the heritage of this property and telling its story to a new generation of visitors and residents.”

To ensure authenticity in landscape design and truly create a sense of place, Bayer Properties engaged Jon Carloftis, (bit.ly/1TutuiH) an award-winning garden designer, garden writer, television guest and author whose work has been acclaimed in publications such as Garden & Gun, Southern Living, Garden Design, Better Homes & Gardens and Country Living.

“Farm chic is how we are describing the ambiance of The Summit at Fritz Farm,” said Carloftis. “To create this contemporary interpretation of farm life we are repurposing period farm implements that were found on and near the property, as well as reusing much of the old and seasoned barn wood on interiors and for accents.”

The landscaping will be engaging and whimsical, providing surprises to entertain visitors throughout their experience. The plush landscaping will be beautiful and practical incorporating as many native plants and trees as possible. The Summit at Fritz Farm will include a sustainable arbor of trees designed to provide drainage for parking, an organic garden bed for chefs to grow fresh vegetables, and pocket parks throughout the development.

“It is important that The Summit at Fritz Farm is purposeful in its design. The retailers that are coming to the property expect a sense of place. In fact, the innovative brands we are attracting such as Bonobos, Cos Bar, Shake Shack and James Beard award-winning Chef Ouita Michel have all selected The Summit at Fritz Farm because of our commitment to offering an experience that complements their brand image,” added Bayer-Shipp.

A native of Lexington, Carloftis’ more than 25-year career in gardening began in New York City where he established himself as one of America’s pioneers in rooftop/small space gardening. Carloftis has created gardens for many high profile clients including Julianne Moore, Edward Norton, Mike Myers and Google.

The Summit at Fritz Farm will include 1 million square feet of retail and chef-driven restaurants and a food hall, luxury apartments, a boutique hotel and office space.

Birmingham, Alabama-based Bayer Properties LLC specializes in developing, leasing, managing and marketing mixed-use real estate properties nationwide. For more information, visit bayerproperties.com

Images: bit.ly/1TqMfZy

Gayle MacIntyre, The Wilbert Group Tel: 404-643-8222 Email: gmacintyre@thewilbertgroup.com

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Greystone Closes $1 Billion in Freddie Mac Small Balance Loans

May 23, 2016 0

NEW YORK, May 23, 2016 (GLOBE NEWSWIRE) — Greystone, a real estate lending, investment and advisory company, announced it has originated and closed $1,000,000,000 in Freddie Mac Small Balance Loans since the Freddie Mac Small Balance Loan program was launched in October 2014. In that time, Greystone has closed over 350 Freddie Mac Small Balance Loan transactions from the East Coast to the West Coast.

“We applaud Greystone’s continued commitment to the small loan market and reaching this milestone,” said Steve Johnson, Freddie Mac’s senior director of small balance lending. “In serving the critical small loan market, Greystone delivers consistent service and reliable execution.”

Freddie Mac’s Small Balance Loan program includes fixed-rate and hybrid adjustable-rate mortgage loans ranging from $1 million to $5 million on multifamily acquisitions or refinancings.

“Freddie Mac’s small balance loan product continues to be our fastest-growing platform, as it addresses the specific financing needs of smaller multifamily property owners with a highly competitive product,” said Rick Wolf, Senior Managing Director and head of Greystone’s small loan lending group. “Greystone has a seamless loan application and origination process in place which covers the US, and we continue to be a leading provider of Freddie Mac small balance loans.”

The Freddie Mac Small Balance Loan Terms include:

  • Properties with at least five units
  • Partial or full term interest only available
  • Up to 80% LTV in certain markets
  • 1:25x debt service coverage ratio minimum in many markets, and 1:20x in top markets
  • 60-120 day rate lock available
  • Hybrid ARMs or fixed-rate mortgage loan
  • Highly competitive rates and low transaction costs

For more information or to contact Greystone about small balance loans, visit www.smallbalance.loan.

About Greystone

Greystone is a commercial real estate lending, investment and advisory company with an established reputation as a leader in multifamily and healthcare finance. Our range of services includes commercial lending across a variety of platforms such as Freddie Mac, Fannie Mae, CMBS, FHA, USDA, bridge and proprietary loan products. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates.

 

PRESS CONTACT:Karen MarottaGreystone212-896-9149Karen.Marotta@Greyco.com

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Broadstone Net Lease Acquires $46.9 Million of Property via Two Transactions

May 19, 2016 0

ROCHESTER, N.Y., May 19, 2016 (GLOBE NEWSWIRE) — Broadstone Net Lease (BNL), a private real estate investment trust (REIT) managed by Broadstone Real Estate, LLC, continues to grow its national portfolio of triple-net leased properties. Today, BNL announced the acquisition of four Austin, Texas-area Rudy’s Country Store and Bar-B-Q locations operated by K&N Management, and the acquisition of one Virginia Beach, Virginia property tenanted by BluePearl Veterinary Partners via a sale leaseback transaction. The properties were acquired for a total purchase price of approximately $46.9 million.

Rudy’s Country Store and Bar-B-Q (Rudy’s) is a popular Southwestern brand famous for offering a one stop shopping experience, complete with Texas barbeque, access to gas, and convenience store items and amenities. Rudy’s currently has 40 locations throughout the Southwestern U.S. in Texas, Oklahoma, Colorado, New Mexico, and Arizona. The acquired properties are located in Austin and Round Rock, Texas, and are tenanted by K&N Management under one master lease for an approximate remaining term of 21.5 years. K&N Management is the licensed area developer of the four Austin-area Rudy’s locations, as well as the owner and operator of Mighty Fine Burgers, Fries & Shakes.

BluePearl, a subsidiary of Mars Inc., operates emergency and specialty veterinary hospitals based in the U.S., with 53 locations in 18 states. The 12,602 square foot Virginia Beach property carries an initial 15-year lease term. BNL currently owns three BluePearl properties in three states. 

We are pleased to further diversify BNL’s portfolio of triple-net leased commercial real estate with the addition of Rudy’s Bar-B-Q as a new tenant brand. Acquiring retail assets in the Austin MSA continues to enhance the quality of our real estate portfolio. We are also pleased to continue to grow our relationship with BluePearl,” said Chris Czarnecki, President and CFO of Broadstone Real Estate. “We look forward to announcing additional acquisitions throughout the remainder of Q2 and beyond.”

Darrell Betts of Avison Young represented Rudy’s, and Josh Pardue of Stan Johnson Company represented BluePearl. Mike Nicholson and Collin Zundel of Tones Vaisey PLLC represented BNL in the Rudy’s and BluePearl transactions, respectively.

About Broadstone Net Lease:

Broadstone Net Lease invests in freestanding, single-tenant, triple-net leased properties located throughout the United States, primarily via sale and leaseback transactions. With a diversified portfolio of 354 medical, industrial and retail properties in 34 states, the REIT targets individual or portfolio acquisitions within the $10 to $200+ million range. 

There are currently nearly 1,700 shareholders in BNL, which is externally managed by Broadstone Real Estate, LLC. BNL remains open for new investment by accredited investors on a monthly basis, with a minimum investment of $500,000. Shares are offered directly by Broadstone via private placement.  Accredited investors are invited to download an investor kit: broadstone.com/may16.

Please see certain important disclosures regarding BNL at broadstone.com/disclosures.

Media Contact: Emma BlissMarketing CoordinatorEmma.Bliss@Broadstone.com585.287.6479

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