Shopoff Realty Investments Acquires 22-Acre Property in La Quinta, Calif.

June 27, 2016 0

La Quinta, Calif., June 27, 2016 (GLOBE NEWSWIRE) — Shopoff Realty Investments, a national manager of opportunistic and value-add real estate investments, announced today that that the company has acquired a 22-acre vacant site in La Quinta, Calif., for $7.25 million. Shopoff Realty Investments intends to entitle the property for a mixed-use development with commercial and residential real estate.

The property is located at the southwest corner of La Quinta Drive and Auto Center Drive, one block from Highway 111, and is also accessible from Adams Street. Nearby developments include the La Quinta Resort & Club, the Rancho La Quinta Golf Club and Lake La Quinta, as well as numerous restaurants and shopping venues.

“This is an excellent asset in a prime location in Coachella Valley, approximately 25 miles from Palm Springs, and surrounded by high quality developments,” said Shopoff Realty Investments Chief Executive Officer William Shopoff.

“Our team will employ our specialized expertise to transform this vacant lot into a more valuable property that will greatly enhance the local community,” added Shopoff Realty Investments Executive Vice President John Santry.

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 or call (844) 4-SHOPOFF.


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.

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Affordable Housing Tax Credit Coalition Awards WNC Founder and Chairman with David Reznick Lifetime Achievement Award

June 27, 2016 0

IRVINE, Calif., June 27, 2016 (GLOBE NEWSWIRE) — WNC Founder and Chairman Will Cooper Sr. has been awarded the David Reznick Lifetime Achievement Award by The Affordable Housing Tax Credit Coalition. The award was presented to Cooper Sr. by Senator Mike Crapo (R-IA) and Congressman Xavier Becerra (D-CA) at the 22nd annual Charles L. Edson Tax Credit Excellence Awards.

Held at the U.S. Capitol Visitors Center in Washington D.C., the event honors low-income housing tax credit (LIHTC) developments at the forefront of creating stronger, healthier communities in urban, suburban and rural areas nationwide.

“Will Cooper Sr. is appropriately known as a pioneer of the affordable housing industry, having been at the forefront of the LIHTC program since its creation by Congress in 1986,” said Senator Crapo. “He is a key member of the affordable housing industry who has helped show many how the low-income housing tax credit provides essential capital to underserved communities and provides key financing for small and rural affordable housing developments. Will is a nationally recognized leader and this lifetime achievement celebrates his remarkable career and work.”

The David Reznick Lifetime Achievement Award recognizes Cooper Sr.’s longtime commitment to supporting the work of the affordable housing and community development industry on the federal, state and local levels. He has testified before both the U.S. Senate and House of Representatives and has worked tirelessly for decades to create and preserve affordable homes for low-income families across the country.

“David was a friend of mine, as he was to so many in the affordable housing industry,” said Cooper Sr. “He was also a member of WNC’s Advisory Board and provided us with excellent insight. I’m very thankful to the board of the Tax Credit Coalition for honoring me, and for the incredible work the organization does on Capitol Hill to support the low-income housing tax credit program. And thank you to everyone in our industry who help to make our nation’s housing better and more affordable.”

Cooper Sr. founded WNC, a national investor in real estate and community development initiatives, in 1971 in Irvine, California. Over time, he built the company’s investor base to include Fortune 500 companies, insurance giants, and multinational banks, helping to bring private investment into the affordable housing sector. In 1997 he cofounded the California Housing Consortium to unite the businesses and organizations working to support affordable housing in the state in a nonpartisan advocacy effort, to great success.

David Reznick was co-founder and Chairman of the Board of Reznick Group, P.C. before the firm combined with J.H. Cohn in 2012 to form CohnReznick LLP. The success of CohnReznick is due, in large part, to the formidable presence David established in the affordable housing industry more than 40 years ago. An industry legend and visionary, he was known for his tireless work to create and protect affordable housing.

“Our founder, my father, has dedicated much of his life to ensuring the delivery of quality, safe homes to individuals and families in need throughout the country,” said Will Cooper Jr., president and chief executive officer of WNC. “He has not only helped lead the low-income housing tax credit industry over the past 30 years, but has also played a significant role in ensuring its success.”

About the Affordable Housing Tax Credit Coalition

Founded in 1988, AHTCC is a trade organization of housing professionals who advocate for affordable rental housing financed using the Low-Income Housing Tax Credit (Housing Credit).  Our for-profit and non-profit members—including syndicators, investors, lenders, developers, legal and accounting professionals and state allocating agencies—seek to preserve, expand and improve the Housing Credit and complementary programs through legislative outreach and education. Please visit for more information about joining the Affordable Housing Tax Credit Coalition.

The Housing Credit is America’s main tool for creating and preserving affordable housing for hardworking families, veterans, people with special needs, seniors, teachers, nurses, firefighters and police officers, among others. Since its creation in 1986, the Housing Credit has represented the best of public-private partnerships, bringing into communities more than $100 billion in private capital to finance nearly 3 million quality affordable apartments, producing or preserving 90,000 to 95,000 homes and supporting 96,000 jobs each year.

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  

ContactJulie Leber Spotlight Marketing Communications949.427.5172 ext. 703 

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Griffin Institutional Access Real Estate Fund Announces Second Quarter Distribution

June 24, 2016 0

EL SEGUNDO, Calif., June 24, 2016 (GLOBE NEWSWIRE) — Griffin Capital Corporation announced today on behalf of Griffin Institutional Access Real Estate Fund (NASDAQ:GIREX) (NASDAQ:GCREX) (NASDAQ:GRIFX) the second quarter distribution of $0.350 for Class A, $0.348 for Class C, and $0.351 for Class I, or a 5.22% annualized distribution rate. The distribution will be payable on June 30, 2016 to shareholders of record as of June 22, 2016, with an ex-dividend date of June 23, 2016.

To learn more about Griffin Institutional Access Real Estate Fund, go to:

About Griffin Institutional Access Real Estate Fund and Griffin Capital Corporation

Griffin Institutional Access Real Estate Fund (the “Fund”) (NASDAQ:GIREX) (NASDAQ:GCREX) (NASDAQ:GRIFX), a closed-end, interval fund registered under the Investment Company Act of 1940, is an actively-managed portfolio of private real estate funds and public real estate securities, diversified by property type and geography, offering daily pricing and periodic liquidity at net asset value. The Fund began reporting on NASDAQ on June 30, 2014 with an initial share price of $25.00 and reported a share price of $26.82 for Class A, $26.67 for Class C, and $26.88 for Class I as of June 22, 2016. The advisor of the Fund is Griffin Capital Advisor, LLC, a majority owned subsidiary of 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 54 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 May 19, 2016.

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

Investors should carefully consider the investment objectives, risks, charges and expenses of the Griffin Institutional Access Real Estate Fund (the “Fund”). This and other important information about the Fund is contained in the prospectus, which can be obtained by contacting your financial advisor or visiting The prospectus should be read carefully before investing.

Griffin Institutional Access Real Estate Fund Risk Considerations

As of 5/31/16 the Fund’s annualized return since inception for Class A shares at net asset value (“NAV”) was 8.45%. The Fund’s inception date was 6/30/2014. The total gross expense ratio is 2.29% for Class A, 3.04% for Class C, 2.04% for Class I. Performance data quoted represents past performance. Past performance is no guarantee of future results and investment returns and principal value of the Fund will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. The maximum sales charge is 5.75% for Class A shares. Class C shareholders may be subject to a contingent deferred sales charge equal to 1.00% of the original purchase price of Class C shares redeemed during the first 365 days after their purchase. The Fund has contractually agreed to waive its fees to the extent that they exceed 1.91% for Class A, 2.66% for Class C, and 1.66% for Class I until January 31, 2017. Without the waiver the expenses would have been higher. The net asset value fund return does not reflect the deduction of all fees and if the fund return reflected the deduction of such fees, the performance would be lower. Visit for current performance.

Distribution Policy Risk. The Fund’s distribution policy is to make quarterly distributions to shareholders. All or a portion of a distribution may consist solely of a return of capital (i.e. from your original investment) and not a return of net profit. Shareholders should not assume that the source of a distribution from the Fund is net profit. Shareholders should note that return of capital will reduce the tax basis of their shares and potentially increase the taxable gain, if any, upon disposition of their shares. Sources of distributions to shareholders for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. Pursuant to Section 852 of the Internal Revenue Code, the taxability of distributions will be reported on Form 1099-DIV for 2016.

The Fund distribution rate is the amount, expressed as a percentage, a Fund investor would receive in distributions if the most recent Fund distribution stayed consistent going forward. It is calculated by annualizing the most recent Fund distribution yield. The percentage represents a single distribution from the Fund and does not represent the total return of the Fund.

The Fund will not invest in real estate directly, but, because the Fund will concentrate its investments in securities of REITs and other real estate industry issuers, its portfolio will be significantly impacted by the performance of the real estate market and may experience more volatility and be exposed to greater risk than a more diversified portfolio. The value of companies engaged in the real estate industry is affected by: (i) changes in general economic and market conditions; (ii) changes in the value of real estate properties; (iii) risks related to local economic conditions, overbuilding and increased competition; (iv) increases in property taxes and operating expenses; (v) changes in zoning laws; (vi) casualty and condemnation losses; (vii) variations in rental income, neighborhood values or the appeal of property to tenants; (viii) the availability of financing and (ix) changes in interest rates and leverage.

Investors in the Fund should understand that the NAV of the Fund will fluctuate, which may result in a loss of the principal amount invested. The Fund provides liquidity to shareholders quarterly between 5% and 25% of its outstanding shares at net asset value.

Sources of distributions to shareholders for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. Pursuant to Section 852 of the Internal Revenue Code, the taxability of distributions will be reported on Form 1099-DIV for 2016.

Griffin Institutional Access Real Estate Fund is distributed by ALPS Distributors, Inc. ALPS Distributors, Inc. is not affiliated with either Griffin Capital or any of its affiliates.

Jennifer NahasVice President, MarketingGriffin Capital Corporationjnahas@griffincapital.com949-270-9332

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National Organization Announces Strictest Code of Ethics and Standards in the Real Estate Industry

June 23, 2016 0

AVONDALE, Ariz., June 23, 2016 (GLOBE NEWSWIRE) — The National Association of Exclusive Buyer Agents (NAEBA) announces that it has released a new Code of Ethics and Standards of Practice, rules by which its members must abide. Because NAEBA members only work with buyers and never sellers, the organization is able to make its standards more stringent than other organizations of real estate agents. For example, the NAEBA Code of Ethics states, “A NAEBA member shall provide undivided loyalty to a Buyer-Client and not advance the interests of sellers, themselves, or their real estate company above the interests of the Buyer-Client.” Because other real estate organizations allow their members to work with both buyers and sellers even in the same transaction, they cannot require their members to provide undivided loyalty to home buyers. Other key elements include:

  • A NAEBA member shall not accept any compensation, commissions, bonuses, gifts or profit resulting from the transaction not disclosed to his/her Buyer-Client.
  • A NAEBA member will protect a Buyer-Client from foreseeable risks and will recommend that a Buyer-Client obtain expert advice when their needs are outside the scope of the NAEBA member’s expertise.
  • A NAEBA member shall not knowingly direct a Buyer-Client to any service which is less than what is in the best interest of the client.
  • A NAEBA member shall assist in negotiating price and terms with direction from a Buyer-Client.
  • A NAEBA member shall disclose information available or reasonably available to them concerning a property which might impact a Buyer-Client’s best interest.

Both the Code of Ethics and the Standards of Practice can be found in their entirety on NAEBA’s website, The Code of Ethics can be found at The Standards of Practice can be found at


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 homebuyer is protected at all times from house-hunting and negotiation to inspection, financing and closing.


Kimberly Kahl, CAENAEBA Executive Director623-932-0098 / 888-623-2299

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Primary Residential Mortgage, Inc. Ranked as one of the Nation’s Top Mortgage Lenders

June 22, 2016 0

SALT LAKE CITY, Utah, June 22, 2016 (GLOBE NEWSWIRE) — Primary Residential Mortgage, Inc., (PRMI) is proud to be named a Scotsman Guide 2015 Top Mortgage Lender. PRMI was ranked #14 in Top Retail Volume for 2015.

PRMI was ranked among entries from hundreds of mortgage companies across the country. To be eligible for consideration in Scotsman Guide’s Top Mortgage Lenders rankings, all loan volume had to be from mortgages on one- to four-unit residential properties within the United States. After receiving submissions, Scotsman Guide required written verification of top entrants’ volume from a Certified Public Accountant, the Chief Financial Officer at the company.

“We are honored to receive such recognition from Scotsman’s Guide, said David Zitting, CEO and President of PRMI. “This past year was a great success with PRMI being able to help just over 28,780 families move into their dream home and this year, we look forward to helping even more.”

Scotsman Guide released its fourth annual Top Mortgage Lenders rankings in early June. The list, which ranks the nation’s top mortgage-lending companies, appears in Scotsman Guide’s June 2016 residential edition, and rankings are available online at

For more information, visit or call 800-255-2792

Kandice Davis 800-255-2792 ext. 1000490

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CareTrust REIT, Inc. Announces Quarterly Dividend of $0.17 per Share

June 20, 2016 0

SAN CLEMENTE, Calif., June 20, 2016 (GLOBE NEWSWIRE) — CareTrust REIT, Inc. (NASDAQ:CTRE) today announced that its Board of Directors has declared a quarterly cash dividend of $0.17 per share of CareTrust common stock, payable on July 15, 2016 to shareholders of record as of June 30, 2016.

About CareTrustTM

CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust that is engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 144 net-leased healthcare properties and three operated seniors housing properties in eighteen states, CareTrust is pursuing opportunities nationwide to acquire additional properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses. More information about CareTrust is available at


Contact Information:CareTrust REIT, Inc. (949) 542-3130,

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Kevin Donlon and Michael Clement Appointed as Directors of New York Mortgage Trust, Inc.

June 16, 2016 0

NEW YORK, June 16, 2016 (GLOBE NEWSWIRE) — New York Mortgage Trust, Inc. (the “Company”) (NASDAQ:NYMT) announced today that its Board of Directors has appointed Kevin M. Donlon and Michael Clement as Directors of the Company, effective immediately. Mr. Clement has also been appointed to serve as a member of the Board’s Audit, Compensation and Nominating and Corporate Governance Committees.

Mr. Donlon was named President of the Company on May 16, 2016 in connection with the Company’s acquisition of RiverBanc LLC, an investment management firm and registered investment adviser under the Investment Advisers Act of 1940 that was founded by Mr. Donlon in 2010 and has sourced and managed over $400 million of direct and indirect investments in multifamily apartment properties. Mr. Donlon’s diverse career has spanned many facets of the real estate capital markets including roles as chief executive, principal investor, investment banker, consultant and entrepreneur. Prior to founding RiverBanc, Mr. Donlon was a Managing Director with BlackRock from January 2010 until August 2010 following its acquisition of Helix Financial Group LLC in January 2010. Mr. Donlon founded Helix Financial Group LLC in May 2004 to provide advisory, underwriting and analytical services to the commercial real estate capital markets arena and served as its Managing Partner from May 2004 to January 2010. As Managing Partner of Helix Financial Group LLC, Mr. Donlon managed a team of more than 175 employees. From 1997 to 2004, Mr. Donlon was a Principal in the CMBS Capital Markets Group of Banc of America Securities LLC where he managed over $10 billion of loan origination, securities underwriting and debt placement.

Mr. Clement has been a professor in the Department of Accounting at the University of Texas at Austin since 2011 and has held associate professor and assistant professor positions in the Department of Accounting of the University of Texas at Austin since 1997. Mr. Clement was a Vice President of Global Investment Research for Goldman Sachs & Co. from 2002 until 2004. Mr. Clement was a Vice President of Capital Planning and Analysis from 1988-1991 and a Manager of the Audit Division from 1982-1986 at Citicorp. Mr. Clement earned a Ph.D. in Accounting from Stanford University in 1997.

Commenting on today’s announcement, Steven R. Mumma, the Chairman of the Company’s Board of Directors and Chief Executive Officer, stated, “We are excited to welcome Kevin and Michael to the Board. Kevin is a leading asset manager in the multifamily investment space whose investment performance while at RiverBanc was a major factor in the Company’s growth in recent years. Moreover, his experience in organizing, growing and charting strategic direction for new businesses, together with his significant expertise and reputation in the multifamily space, is particularly relevant to the Company. Michael is a highly regarded thought leader in the accounting arena who also has significant experience working with financial institutions and financial market participants. His wealth of knowledge in economics, finance and accounting will be of great benefit to the Company and Board.”  Alan L. Hainey, lead independent director, added “We are excited about the additions of Kevin and Michael. Michael brings significant accounting expertise and an additional independent voice to the board, while Kevin brings a strong strategic mind and the knowledge of an area of significant focus for the Company.”

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 COMPANYKristine R. NarioInvestor RelationsPhone: (646) 216-2363Email:

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