Real Estate Journal Online

SAN FRANCISCO, May 24 — LoopNet, Inc. (Nasdaq: LOOP), which operates the largest online commercial real estate marketplace, announced today that it has released the LoopNet Property database, which comprises data on five million commercial properties across all major property types including retail, office, industrial and multifamily, and constitutes one of the largest databases of commercial properties in the real estate industry.

LoopNet is making the LoopNet Property database available at no additional cost to all existing LoopNet Premium Members and all new Premium Members who enroll during the beta launch period.

Additionally, LoopNet is launching the LoopNet iPad App that integrates the LoopNet Property database with the LoopNet Marketplace. The iPad App is being showcased at the ICSC conference in Las Vegas today and tomorrow. Visit the LoopNet Booth at S312 N Street - SOUTH HALL - 2ND FLOOR.

With more than 9.1 times the unique visitors of the next closest marketplace during Q1 2010 according to comScore MediaMetrix, LoopNet is the leading destination for searching and marketing commercial properties for sale or lease. With the launch of its five million record commercial property database, LoopNet is significantly expanding its information service offerings, making a wealth of data available at a very low cost to investors, brokers, sellers, owners, tenants and other real estate professionals researching their markets.

“We are very excited to deliver the LoopNet Property database of more than five million commercial properties to our clients. Delivering a ‘high-quality, alternative source for commercial property information at an affordable price’ is the number one request that we have heard from LoopNet clients for many years,” said Thomas Byrne, LoopNet’s President and Chief Operating Officer. ”We listened. The LoopNet Property database announced today will cover every major commercial property type and all 50 states in the U.S. There are no geographic search restrictions for subscribing clients, and the database is integrated seamlessly into LoopNet’s commercial real estate marketplace at LoopNet.com. We look forward to the opportunity to build upon our existing marketplace relationships with our clients and offer an entirely new set of solutions to them.”

LoopNet’s new commercial property database has launched in beta and includes nationwide coverage of retail, office, industrial and multifamily properties, with land to be added soon. Information provided includes:

• Owner Details & History
• Tenant Rosters & Details
• Mortgage & Lender History
• Tax Records & Assessed Values
• Historical For Sale and Lease Info
• Property Details and Photos
• Asking Price & Asking Rent Trends

“The value of this information to commercial real estate professionals is enormous,” Byrne added. ”The LoopNet Property database will allow customers to use LoopNet to do far more than just market or search for available properties. It will enable them to prospect for new business, research and assess property values, spot trends, enhance client presentations, better position listings and assess asking rents. We are very excited to be able to deliver so much additional value to our customers.”

About LoopNet

LoopNet operates the largest and most heavily trafficked commercial real estate marketplace online with more than four million registered members and approximately five million unique visitors quarterly as reported by Google Analytics. LoopNet also now offers one of the largest commercial property databases with more than five million commercial property records.

The LoopNet marketplace, available at http://www.LoopNet.com, covers all commercial property categories, including office, industrial, retail, multifamily (apartment properties for sale), hotel, land, specialty properties, investment properties and businesses for sale. As of Q1 2010, the LoopNet marketplace featured more than $450 billion of property available for sale and 6.7 billion square feet of space for lease.

LoopNet customers include virtually all of the top commercial real estate firms in the U.S., including CB Richard Ellis, Cassidy Turley, Century 21 Commercial, Coldwell Banker Commercial, Colliers International, Cushman & Wakefield, Grubb & Ellis, Jones Lang LaSalle, Lincoln Property Company, Marcus & Millichap, NAI Global, ProLogis, RE/MAX and Sperry Van Ness.

Forward-Looking Statements

This release contains forward-looking statements regarding the anticipated benefits of LoopNet’s commercial property database, our efforts to differentiate our online commercial marketplace, deliver increasing value to our customers, and the exposure for available properties listed on our marketplace. These statements are based on current information and expectations that are inherently subject to change and involve a number of risks and uncertainties. Actual events or results might differ materially from those in any forward-looking statement due to various factors, including, but not limited to, the accessibility and functionality of our new commercial property database, ongoing volatility in the commercial real estate market, whether increased traffic will lead to new registered members, and our ability to convert them into Premium Members and retain them, our ability to continue to attract unique visitors to our web site, our ability to obtain or retain listings from commercial real estate brokers, agents and property owners, competition from current or future companies, seasonality and our ability to manage our growth. Additional information concerning factors that could cause actual events or results to differ materially from those in any forward-looking statement is contained in our filings with the Securities and Exchange Commission (SEC). Copies of filings made by us with the SEC are available on the SEC’s web site or at http://investor.LoopNet.com/sec.cfm. LoopNet does not intend to update the forward-looking statements included in this press release that are based on information available to us as of the date of this release.

HOUSTON, TX, — Richland Commercial Mortgage announced today the arrangement of a $4.5 million loan for the refinancing of Memorial Post Oak Centre, owned by MPO Centre Investors, Ltd. and located at 1110 North Post Oak Road in Houston. The 76,763-square-foot office-flex property is the corporate headquarters of The Richland Companies. Angie Steadman, President of Richland Commercial Mortgage, co-brokered the loan with Bill Haley of NorthMarq Capital’s Houston office through lender Symetra Life Insurance Company.

This follows closely on the heels of a $1.5 million refinance secured for Grassmere Business Center, LLC. in Nashville, Tennessee’s Grassmere Business Park, bringing Richland Commercial Mortgage’s closings over the last three years to more than $117 million. “In this market, refinancing can offer new opportunities for long term strategies,” says Steadman. “We fully seek to optimize terms for favorable growth for The Richland Companies as well as our clients,” she adds. Richland Commercial Mortgage offers a variety of commercial lending options for Richland properties as well as third-party partners.

About The Richland Companies
Recently named #19 in Houston Business Journal’s largest Houston Commercial Real Estate Property Owners, The Richland Companies is a privately owned real estate investment, management, brokerage, leasing, mortgage, and tenant representation firm that specializes in the acquisition and management of commercial real estate properties. The Richland Companies’ portfolio includes 30 properties in four states throughout the Southwestern United States, representing almost 2 million square feet of commercially owned retail, industrial, office, office-warehouse, and office flex space, with assets valued in excess of $250 million dollars. Headquartered in Houston, Texas with offices in Dallas and San Antonio, The Richland Companies is comprised of Richland Investments, Richland Brokerage, Richland Asset Management, Richland Commercial Mortgage, Richland Leasing, Richland Tenant Representation, Richland Property Management and Richland Land Development. For additional information on The Richland Companies, please visit http://www.richlandpremier.com.

G. W. Armstrong & Associates Public Relations and Advertising is a full service public relations and marketing agency. The firm has offices in Dallas, Houston, Austin, and New York.

NEW YORK, NY, May 31, 2010 - The Building Green Expo and Workshops returns to New York City and will take place at 7 World Trade Center. With the world focused on saving resources and money, this year Building Green has geared its workshops to those interested in making money through proper training and incentives.

Building Green provides an opportunity for Architects, Construction Managers, Developers, Engineers, General Contractors, Government Agencies, Manufacturers, Suppliers and Trade Contractors to network, showcase their products and educate the general public about new innovations that compliment the NYS Green Building Initiatives. This year’s focus will be about establishing and maintaining relations throughout the construction industry to continue on the path of energy efficiency and environmental sustainability.

Many business owners fear the cost to go green may over shadow their ROI, but Crescent Energy, founder of the Building Green Expo and Workshops has put together three workshops aimed to ease these concerns: “Making green ($) from green,” - There is a misconception that being Green is expensive or requires long-term ROI. This workshop will outline how to save and make money in the Green industry. “Green Building Incentives” - FOCUS on commercial Real Estate, Maximize your return on GREEN investment. Finally a “Green job Training Panel” - Green jobs support the solar, wind, biomass, hydrogen and fuel cell industries. Panelists from different industries will identify the specific skills the green economy demands; and the need to invest in creating new training programs and retooling existing training programs to meet the demand.

Sponsorship for the event has grown larger and wider with new companies, agencies and organizations participating in Building Green’s sustainable efforts. Crescent Energy is joined this year by BNY Mellon, NYSERDA, DASNY, KOHLER, Park Avenue Roofing and Supplies, Battery Park City Authority, R & J Construction Corporation, Image Marketing Inc, NY Real Estate Journal, New York Power Authority, Turner Construction and more TBA. For more information regarding workshops, Exhibiting or Sponsorship, [email protected].

LAS VEGAS, — Kenneth Lowman, Broker/Owner of Luxury Homes of Las Vegas sold Actor Nicolas Cage’s foreclosed, now bank-owned Las Vegas home the first day it was on the market. Cage’s 14,306-square foot luxury property located at 5100 Spanish Heights Drive in Las Vegas is now in escrow and is expected to close on Wednesday.

Cage’s former luxury home boasts a 16 car subterranean garage, an elevator, theatre room, six bedrooms, seven and a half bathrooms and a full and magnificent view of the Las Vegas Strip. Cage bought the home in September, 2006 for $8,500,000. Since the recession has reduced luxury home prices up to 50 percent off, Lowman sold Cage’s former home for close to the asking price of $4,950,000.

Said Lowman, “I’ve been preaching to all of my potential buyers who are waiting in the wings the same message over and over. If you have the wherewithal, now is the time. Conventional homes move in relation to unemployment. The luxury home segment moves in relation to the stock market. The market is back, and it’s not only a trend; these are dollars. Luxury properties are being closed on today for up to 50 percent off the original asking price.”

Cage owes the IRS around $6 million in back taxes and has now foreclosed on four homes, two in New Orleans, one in California and one in Las Vegas. A rumor is out that Actor Johnny Depp has offered to assist Cage with his financial problems.

Of the 10 luxury home closings last month in Las Vegas, Lowman sold three of them for a market share of 30 percent. Lowman also had the two highest in price: $2,900,000 for 2845 Red Arrow Dr. in the Red Rock Country Club and $2,750,000 for 35 Skybird Ct. in The Ridges. Lowman’s third luxury sale in December was a home that sold for $1,437,500 located at 1812 White Hawk in Eagle Hills. Lowman sold three of the six non-bank-owned luxury homes sold in December, giving him 50% of the market share, an unbelievable achievement in the luxury home arena, especially in our challenging real estate environment.

Ken Lowman, Broker and Owner of Luxury Homes of Las Vegas, has over 20 years of experience in a star studded real estate career specializing in higher-priced, luxury homes. Lowman was recently selected as “One of the Most Dependable Luxury Real Estate Professionals of The West” by Goldline Research, an independent research firm specializing in evaluating professional service firms. This recognition was published in Forbes Magazine. Luxury Homes of Las Vegas is located at 7854 W. Sahara Ave., Ste. 100 , Las Vegas, NV 89117. For more information, call 702-216-HOME (4663) or 866-210-7620 or visit www.luxuryhomesoflasvegas.com.

Aug 29, 2008 – The property market in the Caribbean continues to be a healthy investment and with increased globalization of financial services, the region is also becoming a centre for economic activity. To complement their wide range of properties for sale in the region, Caribbean Land and Property are now offering a host of new financial services to support investors seeking to make the most of their money.

David Jessop, Director of the Caribbean Council writes that “hardly a week has gone by when one or another bank, private equity firm, hedge fund or privately wealthy individual has not been seeking advice on the opportunities available in the region.” To cater to the demand, Caribbean Land and Property Financial Services division now offers offshore banking, offshore company formation, economic citizenship and mortgages in the Caribbean. These sought after services are not just limited to property buyers but can be utilized by people all over the world who wish to save on taxes and create a secure haven for their personal and corporate wealth.

Manager of the Financial Services department Katie Sosna says “We want to help people make the most out of their money and advise them on options that can give them better returns on their capital. For instance, individuals may want to invest in property and yet be unaware that by setting up an offshore company they can purchase the same property and limit their tax and licensing liabilities for the period of the incorporation.”

Offshore banking and company formation has often been negatively associated with illegal activities but is actually a perfectly legitimate way for individuals and businesses to protect their funds from high taxes, economic and political instability, corruption, stifling bureaucracy and even personal and familial situations. Offshore company’s, often referred to as IBC’s (International Business Company), can be formed through Caribbean Land and Property in as little as one day. Offshore banking accounts can be opened simultaneously allowing clients to trade through their new company from day one.

Obtaining a second passport is an investment that can pay dividends economically, personally and politically. The Economic Citizenship program allows individuals and families to apply for a second passport in either Dominica or St Kitts & Nevis which are the only two Caribbean countries who still offer the program. The main benefits include an escape from excessive taxation, increased business opportunities, relocation advantages and easier travel with visa-free entry to over 100 countries. In addition the host country also benefits by using this significant foreign investment for improvements in infrastructure and cultural development.

Application for the Economic Citizenship program can only be made through a registered and government approved agency. Caribbean Land and Property Financial Services are pleased to be a trusted service provider to support and expedite a client’s application to secure a second passport. Additionally this service provides an experienced liaison between applicant and Government to ensure that there is no unnecessary travel until the time of the final interview. The process takes only 2-3 months to complete with approval being subject to thorough checks by an international agency.

The mortgage service for Caribbean properties will also be welcomed by potential investors who have traditionally found this facility hard to obtain in the region. The mortgage service from Caribbean Land and Property is available in 14 countries, offers up to 75% loan for land or home purchase and presents much needed support in this arena.

The Caribbean and Latin America is one of the world’s strongest growth areas and a survey released yesterday from the Economic Commission for Latin America and the Caribbean (ECLAC) states “In spite of the deteriorating international economic scenario, this year Latin America and the Caribbean will complete six consecutive years of growth, with Gross Domestic Product (GDP) rising 4.7% in 2008.”

The enhanced financial services now offered by Caribbean Land and Property are thus an additional boost to a thriving environment of economic stability and investment in the Caribbean.

Apartment operator Associated Estates Realty Corp. has reported today that the worst may be over for the industry as it saw its lease rates posting an almost one percent gain in May, following the Ohio-based company’s steepest decline of 8.8 percent in December.

Company chief executive Jeffrey Friedman conceded that the upturn was very minimal but he stressed that it was still a positive sign of the looming turnaround that the apartment sector has been waiting, as more good news of misfortune reversals for many apartment-building landlords came trickling in.

Many operators are reporting that plunging rent and lease figures have been halted with some even revealing that occupancy is picking up as property research company Green Street Advisors observed that demands may have struck bottom in the first quarter, which is two quarters earlier than most experts have projected.

The rosy figures could be pointing to spiralling hiring rates even as the Labor Department had earlier revealed that hiring fluctuated in May though it did not ruled out that the recovering economy may be picking up on more jobs, which should mean more capacity too for workers to keep a rented unit or even upgrade as conditions further improve.

Analysts are also predicting that most renters would opt to remain on their lease instead of jumping into homeownership as the government-sponsored tax credit for first-time home-buyers were slowly winding down, with Mr Friedman offering that “renters could wait out for the turbulence to lapse in the single-family market.”

In a report by Axiometrics, nationwide rents and leases increased by 2.8 percent nationwide and in tracking the national apartment market scene, the agency said that biggest improvements were seen in Tacoma, Washington and San Jose, California, with gains of 94 percent and 6.5 percent respectively.

The tracking agency said that both locations derived their rent climbs to technology-related hiring as it added that East Coast markets also saw some pick ups with Miami collecting some four percent increase though nearby Cape Coral-Fort Myers suffered a dip of 4.8 percent while on the far end Las Vegas experienced a slight decline of 0.6 percent.

Axiometrics said that in spite of the gains, overall rents still remained five percent lower from the 2008 high as it cautioned that the recent recovery could still suffer some slow downs and even reversals should the job market declines further or the share market is hit by another meltdown.

On his part, Green Street analyst Andrew McCulloch warned that the unstable job market could eventually pull down the ongoing rent growth but apartment operators are upbeat that the good results seen so far would lead to substantial earnings guidance this year.

In that light, a number of apartment owners are scrambling to hike their lease levels in an apparent attempt to spike up earnings target with Denver-based UDR Inc leading the pack by imposing a four percent rent hike for its estimated 50,000 units nationwide, going to an average of $1,100 per month.

Also, AvalonBay Communities Inc had indicated last week that its 2010 earnings guidance would see some upward movements as it announced that this year’s operations funds would range from $3.85 to $4 a shares, which is an actual upgrade from the maximum $3.85 range set in February.

The company attributed its gains to encouraging employment levels seen earlier this year and further buttressed by household formation and homeownership trends underway in the area, with Sandler O’Neill & Partners upward revising its earnings guidance for several firms such as Equity Residential, UDR and AvalonBay.

Belize Property Agents, one of the largest and fastest growing real estate companies in Belize beats the odds and expands during tough economic times. They have opened their second office in Dangriga, a south central town in Belize.

Sep 22, 2009 – Dangriga, Belize – Belize Property Agents.com, one of the largest and fastest growing real estate companies in the small Central American nation of Belize is opening a second office in downtown Dangriga.

The new office, located on Dangriga’s main street, is the second venue of business for the full service realty company which specializes in marketing and selling coastal properties and large tracts of farm and jungle land throughout the country of Belize. Their main office is located at Mile 6 on the Hummingbird Highway, near the town of Dangriga.

“We needed an office in a high visibility location in town to make sure we continue to serve our clientele who buy and sell Belize real estate to the best of our abilities”, said David Gobeil, Managing Partner and broker for Belize Property Agents.com.

“Dangriga is the main business center for the entire southern region of Belize”, said Gobeil. “Everyone in the Stann Creek District has to come here for some kind of business, whether it’s paying their taxes, renewing their immigration status, or just shopping for goods and services not available in their area”, he said, adding visitors to Dangriga can now buy or sell Belize real estate at Belize Property Agent’s new office.

Dangriga is located about two hours south of Belize City and about one hour away from Belize’s capital city of Belmopan. The southern-most town of Punta Gorda is about two hours away from Dangriga, and the northern border town of Corozal is about 4 hours away.

“I think our location in the geographical center of the country is one of the main reasons for our success in marketing and selling Belize real estate”, said Gobeil.

“Our company has seen unbelievable growth since we started three years ago. We now have four employees and almost three hundred listings all over the country”, he said.

Belize has seen a recent surge in expat migrations into the country, mainly because Belize is English speaking and has similar real estate ownership laws to North America and Europe.

Belize is only a two hour flight from the southern United States, and boasts some world-class attractions such as the largest barrier reef in the Northern Hemisphere and hundreds of thousands of acres of pristine rainforests and wildlife.

Real Estate values in some areas of the country have appreciated more than 200 per cent over the last five years, and Belize hasn’t witnessed any decrease in property values due to the global recession, according to Gobeil.

“I’ve noticed prices basically stabilizing, since there are relatively fewer buyers these days. But properties are still selling, and we’re on course to have our best year (in terms of sales) ever”, said Gobeil.

Some of the hundreds of listings at Belize Property Agents can be viewed on their website, www.belizepropertyagent.com.

Posted Tuesday at 7:25 a.m. | Nicholas Pritzker, the chief executive and chairman of the Hyatt Development Corp. and a member of the Pritzker family, has placed his 7,325-square-foot contemporary-style mansion on 45 acres on Lake Michigan in Covert, Mich. on the market for $4.95 million.

Pritzker and his wife Susan, who also live on the Gold Coast, have been dividing their time between Chicago and California lately, which is why they listed their estate in southwest Michigan, said listing agent Karen Strohl of Prudential Rubloff.

“They really are orienting themselves toward California more, where they have another property,” Strohl said.

Built by Pritzker in 1992 and located about a two-hour drive from downtown Chicago, the four-bedroom wood mansion was designed by the architect Charles Fill. Features include 4 1/2 baths, a library, a family/media room, an exercise room with a locker room, a rec room, a billiard room, two mechanical rooms, walnut floors and doors, and large windows, Strohl said. The house has a 3,685-square-foot ground level, about 1,135 square feet of space above grade that contains the master suite and the family room/media room, and about 2,505 square feet below grade, she said.

“The house really takes advantage of big views of the lake with big windows,” Strohl said.

Outdoor features include 425 feet of private beach along Lake Michigan, a courtyard, an outdoor terrace with a fireplace and an in-ground whirlpool, she said.

“The area is very natural and heavily wooded with a lot of ravines, so the house was designed to fit very much into the landscape,” Strohl said. “The house also is not on that high of a bluff, which makes the property more valuable, since it isn’t such a hike down to the beach.”

Linda Folk of Prudential Rubloff’s New Buffalo, Mich. office is the co-listing agent for the property.

CHICAGO, Holly Duran Real Estate Partners LLC (HDREP) announced today that Jeffrey Mulder, a licensed Illinois real estate broker, has joined the firm.

“We’re thrilled to bring Jeff’s experience and expertise, as well as his enthusiasm to HDREP,” said Holly Duran, principal of the firm. ”He has a sophisticated skill set and proven ability to counsel large institutional clients on complex transactions, as well as build valuable new business relationships.”

With a background in real estate finance, valuation, investment, acquisitions and dispositions, Mulder is serving as HDREP’s in-house financial specialist. A Certified Commercial Investment Manager (CCIM), he is a recognized expert in the disciplines of commercial and investment real estate.

Prior to joining HDREP, Mulder was Vice President of Mark Goodman & Associates and a lead site acquisition agent for the firm, in addition to representing tenants in search of office space on a national basis.

From 2003 to 2007, Mulder served as a commercial real estate broker and Associate Director at Cushman & Wakefield, focusing on tenant representation and brokerage services. Throughout his career, he has successfully completed transactions for several of the largest global financial services companies, as well as major national and international manufacturing and service firms.

Mulder said: “I’m excited to join the team at HDREP and to put my skills to work here – for both corporate office and industrial clients alike. The firm thrives on finding creative solutions to meet the clients’ space needs, and these successful approaches and track record have clearly created a loyal base of long-term clients.”

Mulder earned a bachelor’s degree from Hope College in Holland, Michigan, where he graduated with honors in Business Administration. He is a member of the Urban Land Institute (ULI) and the Young Real Estate Professionals (YREP).

HDREP provides strategic real estate advisory and brokerage services and negotiates transactions for clients on a global basis, supported by a network of carefully selected pre-eminent local real estate providers in domestic and international markets.

Jul 21, 2010 – Despite the economic downturn, down payment assistance funding is still alive and well for those seeking to purchase a home in Maricopa County, Arizona. However, there are certain eligibility requirements which must first be met by the prospective home buyer.

The following is a list which includes those requirements:

- Must be a first time homebuyer, plan to occupy as primary residence and not had prior ownership in the last three years (Certain census tracts located in various counties do not require applicants to be first time home buyers while offering higher income and sales price limits.)
- Contribute a minimum of $1,000 of personal funds
- No cash back or debt consolidation
- Required to complete a home buyer education class
- Must meet program’s purchase price and income limits
- House payment/total payment to income ratios cannot exceed 31/43%
- Credit score for all borrowers must be at 620 or above
- Independent professional inspection to be done on the property and obtain a
home warranty

For more information, please call Luisa Han at: 480-363-9488 / 480-363-9488 or visit: http://www.luisahangroup.com