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

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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

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Shopoff Realty Investments Acquires Power Shopping Center in Reno, Nevada

July 13, 2016 0

RENO, Nev., July 13, 2016 (GLOBE NEWSWIRE) — Shopoff Realty Investments, a national manager of opportunistic and value-add real estate investments, announced today the company has acquired Firecreek Crossing, a regional power shopping center, for $48.5 million.

The 348,000-square-foot shopping center is located in the Meadowood Mall submarket of Reno, Nevada at the intersection of Kietzke Lane and Redfield Parkway, providing shoppers in the Reno metropolitan region superior access from U.S. 395.

The center is shadow-anchored by Walmart and Sam’s Club, further promoting the regional appeal to the property along with the national credit tenant line up, which includes Ross, TJ Maxx Home Goods, Michaels and a number of other nationally recognized brands. The center also features a new ULTA Beauty location, which opened in June.

“Shopoff Realty Investments is proud to be the new owner of Firecreek Crossing. We look forward to serving the community and adding to the already strong tenant mix,” said Shopoff Realty Investments Chief Executive Officer William Shopoff. “We plan to improve and enhance the aesthetic appeal of the property and implement a lease-up strategy, strengthening the opportunity to increase overall revenue and occupancy of the center, which is currently 71 percent occupied.”

Firecreek Crossing is Shopoff Realty Investments’ second acquisition in the local market in 2016. The firm closed on the purchase of Iron Horse Shopping Center located in Sparks in February of this year.

“We are excited by the growth in the greater Reno area and look forward to expanding our commercial portfolio in this region over the years,” commented Executive Vice President of Shopoff Realty Investments David Placek.

Reno is a thriving community with rapid growth fueled by tech expansion. The announcement of large and recognizable companies such as Amazon, Tesla and Apple moving to the area has created unparalleled motivation for businesses to focus on Northern Nevada.

About Shopoff Realty Investments

Shopoff Realty Investments has a 24-year history of over 100 programs and 529 investments, of which more than 488 have gone full cycle with an average holding period of 2.7 years. Shopoff Realty Investments and its executive leadership have completed more than 5,000 real estate transactions, including the acquisition, management, entitlement and development of more than 23,000 parcels and lots, 77,000 multifamily units, and 6 million square feet of commercial properties, with an aggregate value in excess of $11 billion. For additional information, please visit www.shopoff.com or call (844) 4-SHOPOFF.

Disclosures

Any investment in Shopoff Realty Investments programs involves substantial risks and is suitable only for investors who have no need for liquidity and who can bear the loss of their entire investment. This is not an offering to buy or sell any securities. Such offer may only be made through the offerings memorandum to qualified purchasers. Securities offered through Shopoff Securities, Inc. member FINRA/SIPC, 2 Park Plaza, Suite 1120, Irvine, CA 92614, (844) 4-SHOPOFF.

Contact: Jill SwartzSpotlight Marketing Communications949.427.5172, ext. 701jill@spotlightmarcom.com

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30-Year Fixed Mortgage Rates Remain Near Historic Lows; Current Rate is 3.28%, According to Zillow Mortgage Rate Ticker

July 12, 2016 0

SEATTLE, July 12, 2016 (GLOBE NEWSWIRE) — The 30-year fixed mortgage rate on Zillow® Mortgages is currently 3.28 percent, up one basis point from this time last week. The 30-year fixed mortgage hovered around 3.29 percent for most of the week before settling at the current rate on Tuesday.

“Mortgage rates were steady last week around all-time lows as a string of strong U.S. economic data continued to reinforce the attractiveness of U.S. assets to global investors,” said Erin Lantz, vice president of mortgages at Zillow. “This week, rates could begin a gradual rise as the political situation in the U.K. stabilizes but could turn volatile toward the end of the week in response to U.S. inflation and consumer spending data, and speeches by several key Federal Open Market Committee voters.”

Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgages site and reflect the most recent changes in the market. These are not marketing rates, or a weekly survey.

The rate for a 15-year fixed home loan is currently 2.57 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.77 percent.  

Below are current rates for 30-year fixed mortgages by state. Additional states’ rates are available at: http://www.zillow.com/mortgage-rates.

           
  State

Current

30-Year

Fixed Rate

(7/12/16)
Last Week’s

30-Year

Fixed Rate

(7/5/16)
Change in

Basis

Points
 
  California Mortgage Rates   3.26 %   3.26 % 0  
  Colorado Mortgage Rates   3.27 %   3.24 % +3  
  Florida Mortgage Rates   3.27 %   3.30 % -3  
  Illinois Mortgage Rates   3.27 %   3.27 % 0  
  Massachusetts Mortgage Rates   3.34 %   3.31 % +3  
  New Jersey Mortgage Rates   3.28 %   3.27 % +1  
  New York Mortgage Rates   3.37 %   3.37 % 0  
  Pennsylvania Mortgage Rates   3.27 %   3.28 % -1  
  Texas Mortgage Rates   3.28 %   3.27 % +1  
  Washington Mortgage Rates   3.36 %   3.33 % +3  
                   

About Zillow Mortgages

Zillow Mortgages, operated by Zillow, Inc., is a free, open, and transparent lending marketplace, where borrowers connect with lenders to find loans and get the best mortgage rates.  Borrowers anonymously submit loan requests and receive an unlimited number of custom mortgage quotes with real rates directly from thousands of competing lenders.  Zillow Mortgages also provides mortgage calculators, mortgage advice, mortgage widgets, and lender directories

Zillow is a registered trademark of Zillow, Inc.

 

Media Contact: Catharine Neilson, Zillowpress@zillow.com

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Retail Opportunity Investments Corp. Announces Closing of Common Stock Offering

July 12, 2016 0

SAN DIEGO, July 12, 2016 (GLOBE NEWSWIRE) — Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today that it closed its underwritten public offering of 6,555,000 shares of common stock, including 855,000 common shares issued in connection with the underwriters’ exercise in full of their option to purchase additional shares.  The net proceeds from the offering, after deducting underwriting discounts and commissions and estimated offering expenses, were approximately $133.1 million.

The Company intends to use the net proceeds from the offering to reduce borrowings under the Company’s $500.0 million unsecured revolving credit facility, which were incurred in part to fund property acquisitions, and for general corporate purposes.

Jefferies, J.P. Morgan, KeyBanc Capital Markets, BofA Merrill Lynch and Wells Fargo Securities acted as joint book-running managers; Baird, BTIG and Stifel acted as joint lead managers; Capital One Securities, Canaccord Genuity and Raymond James acted as co-managers in connection with the public offering.

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission.  This offering was made only by means of a prospectus supplement and accompanying prospectus.  This press release shall not constitute an offer to sell or the solicitation of an offer to buy any shares of common stock nor will there be any sale of such common stock in any jurisdiction in which such offer, solicitation or sale would be unlawful.  A copy of the prospectus supplement and accompanying prospectus relating to the offering may be obtained by contacting:  Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022, toll free at (877) 821-7388, J.P. Morgan Securities LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, toll free at (866) 803-9204 or KeyBanc Capital Markets Inc., Attention: Prospectus Delivery Department, 127 Public Square, 4th Floor, Cleveland, Ohio 44114, toll free at (800) 859-1783.

ABOUT RETAIL OPPORTUNITY INVESTMENTS CORP.

Retail Opportunity Investments Corp. (NASDAQ:ROIC), is a fully-integrated, self-managed real estate investment trust (REIT) that specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely-populated, metropolitan markets across the West Coast.  As of March 31, 2016, ROIC owned 75 shopping centers encompassing approximately 8.8 million square feet.  ROIC is the largest publicly-traded, grocery-anchored shopping center REIT focused exclusively on the West Coast.  ROIC is a member of the S&P SmallCap 600 Index and has investment-grade corporate debt ratings from Moody’s Investor Services and Standard & Poor’s.  Additional information is available at: www.roireit.net.

When used herein, the words “believes,” “anticipates,” “projects,” “should,” “estimates,” “expects,” “guidance” and similar expressions are intended to identify forward-looking statements with the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and in Section 21F of the Securities and Exchange Act of 1934, as amended. Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results of ROIC to differ materially from future results expressed or implied by such forward-looking statements.   Information regarding such risks and factors is described in ROIC’s filings with the SEC, including its most recent Annual Report on Form 10-K, which is available at: www.roireit.net.

 

Contact:Ashley Bulot, Investor Relations858-255-4913abulot@roireit.net

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Broadstone Net Lease Acquires 7 Red Lobster Properties for $28.5 million

July 8, 2016 0

ROCHESTER, N.Y., July 08, 2016 (GLOBE NEWSWIRE) — Broadstone Net Lease (BNL), a private real estate investment trust (REIT) managed by Broadstone Real Estate, continues to grow its national portfolio of triple-net leased properties. Today, BNL announced the acquisition of seven Red Lobster properties in six states (Arkansas, Indiana, Kentucky, Minnesota, New Mexico, and Tennessee) via a sale leaseback transaction, for a total purchase price of approximately $28.5 million.

This is the third sale leaseback transaction that BNL has completed with the brand, and the REIT now owns 25 Red Lobster properties in 15 states. The properties are held under one master lease with a remaining term of 23 years, four (4), 5-year renewal options, and annual rent increases of 2%.

We are very pleased to add seven additional Red Lobster properties to our existing long-term master lease, and to grow BNL’s retail holdings,” said Chris Czarnecki, President and CFO of Broadstone Real Estate. “Our team looks forward to announcing additional triple-net lease property acquisitions throughout the remainder of 2016.”  

Tones Vaisey PLLC represented Broadstone Net Lease. 

About Broadstone Net Lease:

Broadstone Net Lease (BNL) 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 379 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 1,800 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. Please see certain important disclosures regarding BNL at broadstone.com/disclosures 

Accredited investors are invited to download an investor kit: broadstone.com/RL16

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

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Renovation and Expansion of Apartments into 66-Unit Affordable Housing Community Complete in San Francisco Bay Area

July 7, 2016 0

SAN FRANCISCO, July 07, 2016 (GLOBE NEWSWIRE) — WNC, a national investor in real estate and community development initiatives, announced today the completion of Kimme’s Place, a new affordable housing community with a combination of 66 reconstructed and new units in the Bay Area suburb of Vacaville, Calif. WNC provided approximately $3.4 million in low-income housing tax credit (LIHTC) equity to fund the development.

Kimme’s Place consists of 26 one-bedroom and 40 two-bedroom garden-style units for families. Located at 1437 Callan St., amenities include onsite management, a laundry facility, fitness center, classroom/computer room and picnic area. Each unit is equipped with central heating and air conditioning, energy efficient appliances, inset LED lighting and granite countertops.

Kimme’s Place was co-developed by CFY Development Inc. and The EGIS Group Inc. With a total cost of $15 million, the development took approximately one year to complete. Bruce Keith served as the project’s architect. Additional funding was provided by the City of Vacaville, Boston Capital and JP Morgan Chase.

“WNC has long-term relationships with CFY Development and EGIS that have spanned more than 25 years and 10 years, respectively,” said WNC Executive Vice President and Chief Operating Officer Michael Gaber. “Our firm is very proud to have partnered with them once more to preserve and upgrade 66 units of affordable housing that may otherwise be out of reach for families in need.”

About WNC

WNC, founded in 1971 and headquartered in Irvine, Calif., is a national investor in real estate and community development initiatives, as well as a leading investor in low-income housing tax credits (LIHTC). WNC has acquired more than $7.6 billion of assets totaling in excess of 1,290 properties in 45 states, Washington D.C., and the U.S. Virgin Islands. Since 2000, WNC has been awarded four New Markets Tax Credit (NMTC) allocations, totaling $178 million, and has facilitated development of 17 low-income community projects. WNC’s investor base exceeds 19,500 institutional and retail clients, including Fortune 500 companies, multinational banks, and insurance companies. Additional information is available at www.wncinc.com.

ContactJulie Leber Spotlight Marketing Communications949.427.5172 ext. 703 julie@spotlightmarcom.com

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