New York Mortgage Trust 2016 Second Quarter Conference Call Scheduled For Wednesday August 3, 2016

July 20, 2016 0

NEW YORK, July 20, 2016 (GLOBE NEWSWIRE) — New York Mortgage Trust, Inc. (Nasdaq: NYMT) (the “Company”) is scheduled to report financial results for the three and six months ended June 30, 2016 after the close of market on August 2, 2016. New York Mortgage Trust’s executive management will host a conference call and audio webcast at 9:00 a.m., Eastern Time, on Wednesday, August 3, 2016. The conference call dial-in number is 877-312-8806.

A live audio webcast of the conference call can be accessed via the Internet, on a listen-only basis, at the Investor Relations section of the Company’s website at www.nymtrust.com. Please allow extra time, prior to the call, to visit the site and download the necessary software to listen to the Internet broadcast.

A replay of the conference call will be available by calling 855-859-2056. The conference ID number is 53717862. The replay will be available until Wednesday, August 10, 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 (“REIT”) for federal income tax purposes. 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.

CONTACT: AT THE COMPANY Kristine R. Nario Chief Financial Officer Phone: (646) 216-2363 Email: knario@nymtrust.com

Read More

Broker Public Portal (BPP) Initiative Takes Off As MRED Launches Homesnap in Chicago

July 20, 2016 0

LISLE, Ill., July 20, 2016 (GLOBE NEWSWIRE) — Midwest Real Estate Data (MRED), the Chicagoland multiple listing service (MLS) representing over 40,000 real estate professionals in the Chicago area, has become the first MLS to launch the Broker Public Portal (BPP). BPP will be going to market with the Homesnap brand and with the full suite of consumer and agent-facing features offered by Homesnap. MRED customers will receive access to mobile real estate app Homesnap Pro and other benefits as a result of MRED s participation in and support of the BPP initiative. This is the first time that brokers in Chicago have supported an MLS-sponsored consumer home search experience in their market.

The BPP initiative is a collaboration between real estate brokerages, real estate franchisors and Multiple Listing Services (MLSs) across the United States to create a national home search experience for consumers that is more straightforward and clear than those offered by advertising-driven media companies. In May, the BPP board announced it had partnered with Homesnap, creator of highly-rated real estate apps for consumers and agents, to launch BPP under the Homesnap brand. This will include an iPhone app, Android app, and mobile and desktop websites. The experience will be free from ads and paid agent placement. Instead, consumers can easily collaborate with their own agent, or connect instantly to the listing agent, ensuring information and answers from a pro who truly knows the home, neighborhood and local market conditions.

“MRED is thrilled to be the first to implement BPP for its customers,” said Rebecca Jensen, President/Chief Executive Officer of MRED. “It was critically important to our leadership that the Fair Display Guidelines be the guiding light of this project, and we are proud to support a grassroots effort that has backing from all corners of the real estate industry.  Homesnap has a great track record in other markets and we are very excited to bring it to the Midwest as part of the suite of services we provide to our real estate professionals.”

“We commend MRED’s early participation in and bold support of BPP,” said Guy Wolcott, co-founder and CEO of Homesnap. “This initiative is designed to help MRED create nationwide listing exposure and lead generation for their members without having to pay to advertise their listings online.  MRED customers will enjoy many direct benefits, including access to Homesnap Pro and a robust platform to collaborate with their clients and each other. We are thrilled to be working with MRED and expect they will set the precedent for other MLSs to follow suit.”

“MRED shares our vision of home search defined by simplicity, integrity and common sense,” said BPP Co‐Chair John Mosey, CEO of Twin Cities-based NorthstarMLS, which serves Minnesota and Western Wisconsin. “Consumers and agents in greater Chicago will now be able to work together more easily, with better information, than ever before.”

About MRED

Midwest Real Estate Data (MRED) is the real estate data aggregator and distributor providing the Chicagoland MLS to more than 40,000 brokers and appraisers and nearly 8,000 offices.  MRED serves Chicago and the surrounding “collar” counties and provides property information encompassing northern Illinois, southern Wisconsin and northwest Indiana.  MRED delivers over twenty products and services to its customers, complementing connectMLS™, the top-rated MLS system in the country for three years running according to the WAV Group MLS Technology Survey.  MRED is the 2013 Inman News Most Innovative MLS/Real Estate Trade Association, and for five consecutive years the MRED Help Desk has been identified as one of the best small business centers in the United States and Canada by BenchmarkPortal.  For more information please visit MREDLLC.com.

About BPP

The Broker Public Portal LLC is a collaborative venture between real estate brokerages and MLSs to create a national consumer home search experience defined by simplicity, integrity and common sense. The portal aims to provide consumers with direct access to the most comprehensive, timely, and complete property information while adhering to fair display guidelines. The BPP initiative is backed by 115 MLSs and real estate companies, including franchisors, independent brands, big brokers, and small brokers, operating in diverse markets across the country and collectively representing over 500,000 real estate agents. It will be funded by, and rolled out through, local MLSs.  More information can be found at http://brokerpublicportal.com.

About Homesnap

Homesnap is the highest-rated mobile real estate app, used by millions of consumers to explore homes and search listings. Homesnap Pro, the professional version of Homesnap, is the fastest-growing mobile app for agents – now available to every agent in 40 MLSs with over 300,000 members. Both are powered by a specialized homes database that combines MLS data, property tax records, census data, geographic boundaries and more.

Jeff Lasky MRED Vice-President & Chief of Staff630-799-1470

Read More

Lexington Realty Trust Obtains $197 Million in Credit Tenant Lease Financing

July 20, 2016 0

NEW YORK, July 20, 2016 (GLOBE NEWSWIRE) — Lexington Realty Trust (NYSE:LXP) (“Lexington”), a real estate investment trust (REIT) focused on single-tenant real estate investments, today announced that it has closed on a $197.2 million non-recourse first mortgage loan secured by its build-to-suit project in Lake Jackson, Texas. Lexington committed to fund up to $166.2 million for the project in 2014 and has an investment balance of $83.9 million as of June 30, 2016.  The project, expected to be substantially completed in the fourth quarter of 2016, is net-leased to The Dow Chemical Company for a 20-year term upon completion.  The loan bears interest at a fixed rate of 4.04% and provides for an approximately $11.3 million balloon payment at maturity in October 2036.

Lexington will use the net proceeds for general working capital purposes which could include build-to-suit fundings and paying down on its revolving credit facility.

“This financing is a great example of how we can selectively use secured financing to create immediate substantial value for our shareholders while executing on our build-to-suit investment strategy. Due to a favorable rate environment and strong tenant credit, we were able to obtain $197 million of 20-year financing at an attractive interest rate, and we will retire credit facility borrowings and extend our weighted average debt maturity as contemplated in our 2016 business plan,” commented T. Wilson Eglin, Chief Executive Officer and President of Lexington Realty Trust. 

ABOUT LEXINGTON REALTY TRUST

Lexington Realty Trust (NYSE:LXP) is a publicly traded real estate investment trust (REIT) that owns a diversified portfolio of real estate assets consisting primarily of equity and debt investments in single-tenant net-leased commercial properties and land across the United States. Lexington seeks to expand its portfolio through build-to-suit transactions, sale-leaseback transactions and acquisitions.  For more information or to follow Lexington on social media, visit www.lxp.com.

Contact:Investor or Media Inquiries for Lexington Realty Trust:Heather Gentry, Senior Vice President of Investor RelationsLexington Realty TrustPhone: (212) 692-7200 E-mail: hgentry@lxp.com

Read More

SRS Facilitates the $5.4M Purchase of Gold Dust Corporate Center on Behalf of Scottsdale Recovery Center

July 19, 2016 0

PHOENIX, July 19, 2016 (GLOBE NEWSWIRE) — On behalf of Scottsdale Recovery Center (SRC), SRS Real Estate Partners (SRS) is proud to announce SRC’s acquisition of Gold Dust Corporate Center. The newly acquired facility is 32,000 square feet and is located at 10446 North 74th Street in Scottsdale. SRC is Arizona’s premier inpatient and outpatient addiction center.

“With the drug epidemic rapidly increasing, we stand by our passion and commitment to help the still suffering alcoholic and drug addicts get, and stay, sober. Gold Dust Corporate Center is the perfect addition to our existing facilities and recovery homes,” said Chris Cohn, co-founder of SRC. “This new location will allow us to continue offering and expand the upscale, private programs we provide in order to get more people the treatment they need and deserve.”

Gold Dust Corporate Center will serve as the headquarters of SRC’s treatment program which includes detox, residential inpatient, IOP, recovery-based yoga and equine therapies, one-on-one counseling, and group counseling.

Brian Polachek of SRS represented Scottsdale Recovery Center in the transaction. Adam Tolson of Lee & Associates represented the seller, Pathfinder TRF Ten LLC.

About SRC

Scottsdale Recovery Center is Arizona’s leading treatment center for young adults in their 20s, 30s and 40s. Since its inception in 2008 SRC has helped over 5,000 recovering addicts work towards achieving lifelong sobriety. SRC has earned the Gold Seal of Approval for Behavioral Health Care from The Joint Commission and has the highest success rate for longtime sobriety in the valley. SRC was founded and is owned by Chris Cohn and Alex Salcedo. For more information, visit scottsdalerecovery.com.

About SRS

SRS is the largest real estate company in the U.S. exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit www.srsre.com.

 

Christina Wezwick214.560.3215

Read More

Imperial Sugar Refinery to be Redeveloped Into 855,000 SF Mixed-Use Project in Sugar Land

July 19, 2016 0

HOUSTON, July 19, 2016 (GLOBE NEWSWIRE) — Imperial Market Development LLC is pleased to announce its purchase of the 26-acre Imperial Sugar Refinery for the development of an upscale, 855,000-square–foot, mixed-use retail, office, hotel and residential project located in Sugar Land, Texas, on U.S. 90 between Highway 6 and U.S. 59. The $200 million project is being developed by a partnership led by principals Geoffrey Jones and James Murnane. Construction will start in September 2016 with a projected grand opening in late 2017.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/41d220db-ad53-477f-bb7a-8f62d27ebb6e

Imperial Market is situated on the banks of Oyster Creek. The project design will allow visitors to interact with the natural beauty of the waterfront. Lush landscaping, pedestrian walkways and bike trails will follow the contours of Oyster Creek in order to provide a park-like environment that will energize the entire project.

The retail, dining and entertainment components of the project will total 290,000 square feet of space, including a 55,000-square-foot, nine-screen Alamo Drafthouse Cinema. Alamo Drafthouse is a best-in-class movie and dining concept with multiple locations throughout Texas. According to Neil Billingsley-Michaelsen, CEO of Triple Tap Ventures, “Imperial Market provides our forthcoming Alamo Drafthouse Cinema with precisely the right environment and blend of tenants to ensure that this will be one of our most successful theaters.”

Other notable tenants include Schilleci’s New Orleans Kitchen, a top-rated, French Quarter-style restaurant serving Creole and Cajun influenced fare (an Open Table Award Winner 2011-2015) that will be opening its second location to complement its current operation at Market Street in The Woodlands. The project will also feature The Guild Bar, a high-end lounge providing a one-of-a-kind gathering place for Imperial Market patrons. Popular Italian restaurant Mia Bella will also be joining Imperial Market with its fourth location in the Houston metropolitan area.

The Company Town (an upscale coffee shop and casual eatery) and Frost Gelato have signed leases to join the roster of tenants as well. Vino & Vinyl, a popular local wine bar, will be part of the project and will serve fine wines accompanied by light fare in an environment that features music played on record players from new and classic vinyl albums. Many fashion and soft goods tenants are expected to soon commit to Imperial Market and will be announced shortly.

Retail leasing for the project is headed up by Nick Hernandez, Crystal Allen and Chace Henke of Transwestern. According to Hernandez, “We are honored to be selected to work on such a dynamic project. Having the chance to be a part of preserving the history of the Imperial Sugar refinery and provide a world-class retail, restaurant and entertainment destination is a once-in-a-lifetime opportunity that our team could not be more excited about. Initial feedback from retailers is outstanding, and we are looking forward to announcing many more best-in-class tenants in the coming months.”

Imperial Market will also include approximately 90,000 square feet of Class A office space that will be located above the project’s retail shops and restaurants. The office space will cater to the needs of local professionals and larger corporate users that value proximity to the various goods and services that will be offered at Imperial Market.

Office leasing will be handled by Eric Anderson and Greg Tilton of Transwestern. “The quality of the workplace and the ability to walk to a wide array of restaurants and stores is extremely appealing to office users, and it provides companies with a huge competitive edge with respect to hiring and retaining the most skilled work force,” stated Anderson.

Imperial Market will be home to a 185-room, luxury boutique hotel located in the historic Char House building on-site. An agreement has been signed with a well-respected operator, with the identity of the hotel flag to be released shortly. The hotel, as is the case with the entire project, will accentuate the magnificent history and traditions of the Imperial Sugar refinery and will contain approximately 10,000 square feet of conference and meeting space.

The exterior of the Char House will be carefully restored to its original historic grandeur. The design of new buildings to be developed on-site will pick up the inferences of the historic buildings to be preserved and express them in the same architectural language.

The site will also contain a 274-unit, luxury multifamily complex developed by Sueba USA, one of the most well-respected multifamily developers in Texas. According to John Chiang, executive vice president of Sueba USA, “We recognized the inherent value of being part of a development like Imperial Market. The shopping and services located on-site round out an amenities package for our residents that will be unrivaled in the Houston metro area.”

Imperial Market is also home to the recently opened Fort Bend Children’s Discovery Center, which is affiliated with the renowned Children’s Museum of Houston. The director of the museum, Tammie Kahn, has stated that, “Fort Bend County has one of the fastest-growing populations of young families with children in the nation. The museum was made possible by the vision and sponsorship of business and community leaders. We are all very proud that the museum is located in one of Texas’ most iconic and historic locations.” The Discovery Center is expected to be visited by over 100,000 patrons per year.

The project site will also continue to feature the popular Farmer’s Market at Imperial. The Farmer’s Market, which draws 150,000 visitors to the site annually, has become a much-beloved Sugar Land tradition.  Imperial Market will also be the permanent home of the Sugar Land Heritage Museum & Visitors Center.

The City of Sugar Land and the Imperial Redevelopment District have both been ardent supporters of the Imperial redevelopment. Sugar Land Mayor Joe Zimmerman states, “We are extremely excited about the high quality of the Imperial Market project since it will bring life to the community’s long-held vision for the redevelopment of one of City’s most important historic sites – the Imperial Sugar refinery.”

Former Sugar Land Mayor James Thompson added, “The redevelopment of the Imperial Sugar refinery was one of my top priorities. I am very proud to see that our years of hard work to preserve the site have paved the way for the development of Imperial Market.”

Given the historic nature of the project and the developer’s commitment to preserving the rich traditions and authenticity of the site, Imperial Market has also benefitted from its relationships with those federal and state historic agencies that have jurisdiction over the project.

The project has been designed by the internationally known architectural firm HOK. Harvey Builders has been selected to serve as the general contractor for Imperial Market. LJA has been engaged to handle project engineering. The Hunton Group will provide HVAC and all building systems to the project. Bancorp South provided financing for the land purchase.

The Imperial Market site is located within the 720-acre, master-planned community of Imperial, a project being developed by The Johnson Development Corp. Imperial is home to Constellation Field where the Sugar Land Skeeters play in front of 500,000 fans each season.

For more information regarding Imperial Market, please visit www.imperialmkt.com. For information regarding the Imperial master-planned community, please go to www.ImperialSugarLand.com.

ABOUT TRANSWESTERN

Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Management, Tenant Advisory, Capital Markets, Research and Sustainability services, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Houston office follow @TranswesternHOU.

Media Contact:Shannon Bedinger713.272.1285shannon.bedinger@transwestern.comtwmediarelations@transwestern.com

Read More

Greystone Appoints Avrom Forman Director of Sales Strategy

July 18, 2016 0

NEW YORK, July 18, 2016 (GLOBE NEWSWIRE) — Greystone, a real estate lending, investment and advisory company, announced that Avrom Forman has joined as Director of Sales Strategy. In this newly created role, Mr. Forman will serve as a strategic advisor to the FHA origination team, reporting directly to Mordecai Rosenberg, head of Greystone’s FHA lending group.  

Mr. Forman was most recently Chief Executive Officer at Eastern Union Funding, a leading national commercial real estate mortgage brokerage based in New York, where for the past two years, he focused on formalizing a sales structure and helped to increase deal volume from $2.3 billion to over $3 billion for two years in a row. Prior to Eastern Union Funding, Mr. Forman served as both Chief Operating Officer and SVP, Corporate & External Affairs at Vivaro Corporation, a telecommunications company, where he led implementation of operational efficiencies and processes.

“Greystone has set ambitious goals for itself over the coming years. We are not just interested in increasing our production levels – we are looking to totally transform the traditional borrower experience. We want to be poised to provide an unparalleled level of service to our customers and Avrom’s holistic and hands-on approach to sales will be critical in meeting that objective,” said Mr. Rosenberg. “My hope is that Avrom will help us realize the goal of Greystone being the easiest lender in the country to work with, and the easiest lender in the country to work for,” he added.  

“Our industry moves at light speed, and my vision for Greystone’s origination team is to become a scalable, highly adaptable salesforce that can create – and execute on – the right financing solution at the right time for existing and new clients,” said Mr. Forman.

Mr. Forman added, “As product integration becomes a unifying pillar here at Greystone, with the focus being on what best serves the client, we will be able to amplify our reputation of stellar service and reliable executions.”

About Greystone

Greystone is a real estate lending, investment and advisory company based in New York. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, visit www.greyco.com.

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

Read More

Agorafy Begins A New Growth Cycle In Real Estate Technology

July 18, 2016 0

NEW YORK, July 18, 2016 (GLOBE NEWSWIRE) — Agorafy, New York City’s online real estate information marketplace is thrilled to announce its new cycle of growth in their development of groundbreaking real estate technology.

Agorafy continues to grow and expand its three central pillars of technology, data and media in the process of transitioning from local to national to a global real estate technology company. “Agorafy’s new team of engineers have crafted a platform that will keep Agorafy ahead of the pack in information technology. We are getting ready to re-tool our platform in a way that will further simplify and facilitate the process of searching and listing real estate information,” says Richard Du, Agorafy’s CEO and founder. 

This innovation comes ahead of the upcoming revamp of the entire platform which will include a media center for access to the latest news, interviews with experts and leading-edge information on all things real estate. “Agorafy stands poised and ready for its next stage of growth,” says Richard Du. “We are very excited to welcome our new engineers and media team who will move us into the future of Agorafy’s vision. We are more ready than ever to take the lead in how data is collected and shared in the real estate industry. Our platform continues to break new ground and we believe it will change how realtors connect with both data and clients.”

Agorafy is planning to exponentially grow its presence beyond the New York City real estate market by strategically expanding nationwide in the next six to twelve months. This growth will keep Agorafy at the vanguard of data acquisition, verification and dissemination, and will also support Agorafy’s move into full-on media production, linking realtors, data and the public to information from every angle.

“It is our belief that openly sharing information, from data to the wisdom of successful professionals, will build communities and businesses based on trust and collaboration,” comments Du.

About Us

Agorafy is an open platform for organizing and sharing real estate information in New York City. Our mission is to democratize information by being the most open and accurate resource for commercial listings, residential listings and property information, allowing users to make highly-informed decisions based on current market data. We believe that full transparency will create greater value for all real estate professionals while also utilizing the intersection of media and information technology to build communities and businesses based collaboration.

Agorafy is available on iOS and Android.

CONTACT:MediaAgorafy, Inc.235 West 23rd Street, 5th FloorNew York, NY 10011T: +1-212 401 4214E: press@agorafy.comwww.agorafy.comTwitter: @agorafy

Read More

1 2 3 30