Lennar Homebuilders to Develop New Community in North Carolina

Lennar Homebuilders to Develop New Community in North Carolina-Image via Wikipedia

Lennar, one of the nation’s largest homebuilders since 1954, is excited to announce it has recently completed the purchase of land at Berewick a master-planned community located in Southwest Charlotte, North Carolina.

The homebuilder famous for offering the best value, locations and “EVERYTHING’S INCLUDED” will be offering single-family home designs featuring 4 and 5 bedroom homes with lofts, bonus rooms and main floor bedrooms with full baths. Homes will be priced from the low 200’s. EVERYTHING’S INCLUDED will highlight designer upgrades as standard at no additional cost to the homebuyer. Some of the included features will be granite countertops, ceramic tile, hardwood flooring and staggered cabinetry.

“We are thrilled to debut Lennar homes in Berewick and are confident this is an ideal location to call home that boasts an assortment of community amenities and activities to enjoy,” said Veronica Perez, Director of Sales and Marketing for Lennar’s Carolinas division. “Lennar understands what our customers want in a new home and we want to make sure their dream home in this dream community makes becoming a part of the Lennar family an obvious decision. Everything is truly included…a great home and an amazing lifestyle!”

Developed by Pappas Properties, Berewick offers a variety of activities and amenities.

A beautiful 5,200 square foot Manor House and pool area spread across six acres is the centerpiece of the community. The Manor House provides a hub of activity for residents with space for gatherings including a catering kitchen, children’s activity center and fitness room. Berewick has an on-site activities director.

Berewick’s Southwest Charlotte location puts the community within minutes to major interstates I-485, I-85 and I-77 making all attractions within easy reach.

For more information call 704-749-5274 or visit Lennar.com/Charlotte or www.Berewick.com.

Lennar Corporation, founded in 1954, is headquartered in Miami, Florida and is one of the nation’s leading builders of quality homes for all generations. Lennar builds affordable, move-up and retirement homes in Communities that cater to almost any lifestyle – such as urban, golf course, Active Adult or suburban Communities. Currently the company builds homes in 17 different states in some of the finest markets across the country.

SOURCE Berewick

Champions Biotechnology, Inc. (OTC Bulletin Board: CSBR), a company engaged in the development of advanced preclinical platforms and tumor specific data to enhance the value of oncology drugs, today announced that Mr. Joel Ackerman has joined the management team as the Chief Executive Officer of the Company.  In addition, the Company announced that Dr. Ronnie Morris will join the management team as President of the Company; Dr. Morris will concentrate on the development and growth of the personalized medicine business, particularly the Company’s Personalized Oncology Services.  Both Mr. Ackerman and Dr. Morris will join the company’s Board of Directors.

Mr. Ackerman spent 15 years at Warburg Pincus, a leading private equity investment firm, from 1993 to 2008.  While at Warburg Pincus, he was a partner of the firm, a member of the executive management group and ran the healthcare services group.  He invested in start-ups and early-stage companies as well as later stage growth investments and management-led buyouts.  For most of these companies, Mr. Ackerman served on the board of directors and worked closely with the respective management teams on strategy, financing, M&A and organizational development.  Currently, Mr. Ackerman sits on the board of directors of Coventry Health Care, a publicly traded managed care company, and Kindred Healthcare, a publicly traded company that owns hospitals and nursing homes.  He is also Chairman of the Board of One Acre Fund, a non-profit microfinance organization in Western Kenya.  He received a BA in physics from Columbia University and an MA in physics from Harvard University.

Ronnie Morris, M.D. was most recently one of the founders of MDVIP, the national leader in personalized healthcare.  Serving as a board member, medical director, and part of the executive management team, Dr. Morris helped build and manage MDVIP, a company that grew to a network of 400 doctors within 29 states servicing 125,000 consumers/patients.  In December 2009, MDVIP was acquired by the Procter and Gamble Co.  Prior to MDVIP, Dr. Morris was the Chief Medical Officer and Executive V.P. of AllianceCare, a 1500+ employee company that provided home healthcare, physical therapy and doctor visits for home bound patients.  At AllianceCare Dr. Morris developed and operated the physician house call division of the business, and he was the general medical director for the company.  He is currently on the board of directors of APOS therapy.  He was the managing partner of a large multispecialty group that was acquired in 1998 by Promedco.  Dr. Morris is a board certified internist and up until 2004 he had a private practice in Boca Raton, Florida.  He has been a consultant for many pharmaceutical companies including Pfizer, Merck, and AstraZeneca.

Dr. David Sidransky, Chairman of the Board of the Company, said, “We are all very excited about Mr. Ackerman and Dr. Morris joining our team.  They bring a highly successful track record and years of valuable experience and empirical knowledge to help shape and grow our business.”

Additional information regarding this announcement will be contained in a Form 8K to be filed by the Company.

About Champions Biotechnology, Inc.

Champions Biotechnology, Inc. is engaged in the development of advanced preclinical platforms and predictive tumor specific data to enhance and accelerate the value of oncology drugs.  The Company’s Preclinical Platform is a novel approach based upon the implantation of primary human tumors in immune deficient mice followed by propagation of the resulting xenografts (Biomerk Tumorgrafts™) in a manner that preserves the biological characteristics of the original human tumor.  The Company believes that these Tumorgrafts closely reflect human cancer biology and their response to drugs is more predictive of clinical outcomes in cancer patients.

Champions Biotechnology leverages its preclinical platform to evaluate drug candidates and to develop a portfolio of novel therapeutic candidates through pre-clinical trials.  As drugs progress through this early stage of development, the Company plans to sell, partner or license them to pharmaceutical and/or biotechnology companies, as appropriate.  The Company also offers its predictive preclinical platform and tumor specific data to physicians for personalized patient care and to Companies for evaluation of oncology drugs and drug candidates in models that integrate prognostic testing with biomarker discovery.

Champions Biotechnology is dedicated to enhancing preclinical development tools, accelerating development and valuation of oncology drugs, and advancing personalized treatment with a goal to improve the lives of cancer patients globally.

This press release contains “forward-looking statements” (within the meaning of the Private Securities Litigation Act of 1995) that inherently involve risk and uncertainties.  Champions Biotechnology generally uses words such as “believe,” “may,” “could,” “will,” “intend,” “expect,” “anticipate,” “plan,” and similar expressions to identify forward-looking statements.  One should not place undue reliance on these forward-looking statements.  The Company’s actual results could differ materially from those anticipated in the forward-looking statements for many unforeseen factors.  See Champions Biotechnology’s Form 10-K for the fiscal year ended April 30, 2010 for a discussion of such risks, uncertainties and other factors.  Although the Company believes the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and Champions Biotechnology’s future results, levels of activity, performance or achievements may not meet these expectations.  The Company does not intend to update any of the forward-looking statements after the date of this press release to conform these statements to actual results or to changes in Champions Biotechnology’s expectations, except as required by law.

CHAMPIONS BIOTECHNOLOGY, INC. WEB SITE: www.championsbiotechnology.com

CONTACT: James Carbonara of The Investor Relations Group, Inc., +1-212-825-3210, for Champions Biotechnology, Inc.

SOURCE Champions Biotechnology, Inc.

PharmAthene, Inc. (NYSE Amex: PIP) to Offer Shares of Common Stock

PharmAthene, Inc. (NYSE Amex: PIP) to Offer Shares of Common Stock-Image via CrunchBase

PharmAthene, Inc. (NYSE Amex: PIP), a biodefense company developing medical countermeasures against biological and chemical threats, today announced that it intends to offer and sell shares of its common stock in an underwritten public offering. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Roth Capital Partners, LLC. is acting as sole underwriter for the offering.

The shares are being offered by PharmAthene pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (“SEC”) on February 13, 2009. A preliminary prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Roth Capital Partners, LLC Syndicate Department,  24 Corporate Plaza, Newport Beach, CA 92660, at 800-678-9147 and Rothecm@roth.com. Before you invest, you should read the prospectus and prospectus supplement in that registration statement and other documents PharmAthene has filed or will file with the SEC for more complete information about PharmAthene and the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About PharmAthene, Inc.

PharmAthene was formed to meet the critical needs of the United States and its allies by developing and commercializing medical countermeasures against biological and chemical weapons. PharmAthene’s lead product development programs include:

  • SparVax – a second generation recombinant protective antigen (rPA) anthrax vaccine
  • Valortim® – a fully human monoclonal antibody for the prevention and treatment of anthrax infection
  • Protexia® – a novel bioscavenger for the prevention and treatment of morbidity and mortality associated with exposure to chemical nerve agents

Statement on Cautionary Factors

Except for the historical information presented herein, matters discussed may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements preceded by, followed by, or that include the words “potential”; “believe”; “anticipate”; “intend”; “plan”; “expect”; “estimate”; “could”; “may”; “should”; “will”; “project”; “potential”; or similar statements are forward-looking statements. PharmAthene disclaims any intent or obligation to update these forward-looking statements other than as required by law. Risks and uncertainties include risk associated with the reliability of the results of the studies relating to human safety and possible adverse effects resulting from the administration of the Company’s product candidates, unexpected funding delays and/or reductions or elimination of U.S. government funding for one or more of the Company’s development programs, the award of government contracts to our competitors, unforeseen safety issues, challenges related to the development, scale-up, technology transfer, and/or process validation of manufacturing processes for our product candidates, unexpected determinations that these product candidates prove not to be effective and/or capable of being marketed as products, challenges related to the implementation of our NYSE Amex compliance plan, as well as risks detailed from time to time in PharmAthene’s Forms 10-K and 10-Q under the caption “Risk Factors” and in its other reports filed with the U.S. Securities and Exchange Commission (the “SEC”). In particular, there can be no assurance that PharmAthene will satisfy the NYSE Amex continuing listing standards by January 26, 2012, or that during the compliance period the Exchange will not deem PharmAthene’s progress toward compliance inadequate. In either case, the NYSE Amex may immediately initiate delisting proceedings.

Copies of PharmAthene’s public disclosure filings are available from its investor relations department and our website under the investor relations tab at www.PharmAthene.com.

SOURCE PharmAthene, Inc.

TreeHouse Foods, Inc. (NYSE: THS) Acquires S.T. Specialty Foods for $180 Million

TreeHouse Foods, Inc. (NYSE: THS) Acquires S.T. Specialty Foods for $180 Million

TreeHouse Foods, Inc. (NYSE: THS) announced today that it has completed the previously announced acquisition of S.T. Specialty Foods for $180 million, plus up to an additional $15 million if the company achieves certain earnings targets for the 12 month period ending December 31, 2010.  S.T. Specialty Foods, Inc., headquartered in Brooklyn Park, Minnesota, produces private label macaroni and cheese, skillet dinners and other value-added side dishes and salads.

Prior to the closing, on October 27, 2010, TreeHouse amended and restated its revolving credit facility.  The Amended and Restated Credit Agreement extends the maturity of the Company’s revolving credit facility from August 31, 2011 until October 27, 2015 and increases the amount available under the revolving credit facility from $600 million to $750 million.  The covenants under the Amended and Restated Credit Agreement are substantially consistent with those contained in the Company’s prior credit agreement.  The interest rate under the Amended and Restated Credit Agreement is based on the Company’s consolidated leverage ratio, and will be determined by either LIBOR plus a margin ranging from 1.50% to 2.50%, or a base rate (as defined in the Amended and Restated Credit Agreement) plus a margin ranging from 0.50% to 1.50%.

The proceeds of the Amended and Restated Credit Agreement were used to refinance the Company’s existing credit facility, fund the acquisition purchase price, and pay related transaction costs.  Upon closing of the S.T. Specialty Foods transaction, approximately $200 million of the Amended and Restated Credit Agreement remained undrawn and available.

About TreeHouse Foods

TreeHouse is a food manufacturer servicing primarily the retail grocery and foodservice channels.  Its products include non-dairy powdered coffee creamer; canned soup, salad dressings and sauces; sugar free drink mixes and sticks; instant oatmeal and hot cereals; macaroni and cheese, skillet dinners and other value-added side dishes and salads; salsa and Mexican sauces; jams and pie fillings under the E.D. Smith brand name; pickles and related products; infant feeding products; and other food products including aseptic sauces, refrigerated salad dressings, and liquid non-dairy creamer.  TreeHouse believes it is the largest manufacturer of pickles and non-dairy powdered creamer in the United States and the largest manufacturer of private label salad dressings, drink mixes and instant hot cereals in the United States and Canada based on sales volume.

SOURCE TreeHouse Foods, Inc.

Insurance Auto Auctions, Inc. (IAA), the leading hybrid model salvage auto auction company and a wholly owned subsidiary of KAR Auction Services, Inc. (NYSE: KAR), today announced the launch of national philanthropic campaign, One Car One Difference™ that will benefit charitable and non-profit organizations. The campaign officially kicks off in early December and calls on the public to donate their vehicles to their charity of choice. The initiative will provide charities with much needed funds and continue IAA’s efforts to benefit the environment.

Partner charities and non-profit organizations will be announced as they join the effort, and include those representing health-related needs, veterans, animals, children and other causes.

Since 1994, the IAA Donation Division has provided non-profit organizations with complete donation processing services – a key differentiator in the marketplace that creates a streamlined approach for participants – and has fueled tremendous results. In 2009, IAA returned millions of dollars to well over 100 designated charities throughout North America.

“Insurance Auto Auctions is honored to offer a national platform for charitable and non-profit organizations to raise funds for their programs, funds that are needed now more than ever before,” said Tom O’Brien, chief executive officer, IAA. “We’ve been in the salvage auto auction business for over 28 years, with an established and dedicated national call center team and more than 155 branch locations that help make donating a vehicle simple and gratifying. We know that every car truly can make a difference and provide the public a unique way to turn their vehicles into cash for their charity of choice.”

The IAA’s bidding platform offers choice and flexibility, making it easy for more buyers to participate and generate high returns for donated vehicles. IAA’s Donation Division handles and processes IRS submissions for each charity or non-profit organization. Each week, salvage auto auctions are offered to IAA’s mature global buyer base using the IAA Hybrid Auction Model, which combines live auctions and live-online bidding. While live auctions take place, online buyers join in the bidding through real-time audio broadcasts, which generates a healthy, competitive auction environment. Over 87 percent of all charitable donors said they would refer a friend to use IAA’s unique services.

“By establishing this national platform, One Car One Difference™, Insurance Auto Auctions is honored to provide resources and auction facilities that can directly impact the people, families, animals and communities these charities serve,” said Jeanene O’Brien, vice president, IAA. “Salvage auto auctions are our business, but it is more than just auctioning cars – it means turning cars into resources that can provide shelter, food, medication, clothing or other vital services, as well as a sense of dignity and hope. Vehicle donation not only benefits charities – it is a crucial element of how IAA works to benefit our environment. IAA’s business model depends on recycling and reusing, which results in quantifiable energy savings. More than 1.7 million tons of steel and over 268,000 tons of aluminum have been recycled, eliminating the need to manufacture that metal as well as keeping it out of landfills each year.”

For more information regarding how to participate and donate your vehicle today, go to www.1CAR1DIFFERENCE.COM, or call 877-557-1CAR.

About Insurance Auto Auctions, Inc.

Insurance Auto Auctions, Inc. (IAA) a wholly owned subsidiary of KAR Auction Services, Inc. (NYSE: KAR), provides the advantage in salvage auto auctions with their Hybrid Auction Model combining live and live-online auctions, North America’s broadest salvage auction facility footprint, a strong global buyer base and high vehicle returns. IAA’s more than 155 facilities across the United States and Canada provide vehicle suppliers and buyers with powerful solutions to process and acquire total-loss, recovered-theft, fleet lease, donation and rental vehicles. The IAA Hybrid Auction Model, including live, live-online, and proxy bidding, united with their mature global buyer base and diverse inventory produce some of the industry’s highest returns for vehicle providers. With 28 years in the industry, IAA holds a comprehensive warehouse of salvage auction data. For more information regarding IAA visit our website at www.iaai.com.

SOURCE Insurance Auto Auctions, Inc.

Healthcare Trust of America, Inc. (“HTA”), a self-managed, non-traded, real estate investment trust, announced the execution of agreements to acquire a portfolio of nine medical office buildings located in New York, Massachusetts, and Florida for approximately $196,645,000. Each closing is subject to the satisfaction of a number of conditions.

The 98% leased, nine building Class A medical office portfolio (“Portfolio”) consists of approximately 960,000 square feet of both on and off-campus MOBs with a weighted average remaining lease term of seven years. The Portfolio includes both single-tenant and multi-tenant properties located in Albany, New York, North Adams, Massachusetts, and Temple Terrace, Florida.

The Portfolio has an average building age of eight years and includes prominent tenants such as: Catholic Health East (Moody’s: ‘A1’), Health Quest (Moody’s: ‘A3’), The State University of New York (Moody’s: ‘Aa3’), Berkshire Health Systems (Fitch: ‘BBB+’), LabCorp of America (Moody’s: ‘Baa2’), US Oncology, and Community Care Physicians.

“This transaction continues our corporate focus to acquire high quality MOBs with significant occupancy and strong credit tenants located in strategic locations with dominant healthcare systems,” stated Mark D. Engstrom, Executive Vice President of Acquisitions for HTA. “We have worked hard at establishing strong relationships in the healthcare industry. With such relationships we have been able to timely identify and act on opportunities to acquire quality portfolio assets.”

Since January 1, 2010, HTA has acquired approximately $344.5 million in medical office and healthcare related assets based on acquisition price. These acquisitions involve approximately 1.5 million square feet of gross leasable area, which is approximately 98 percent leased

For more information on Healthcare Trust of America, Inc., please visit www.htareit.com.

About Healthcare Trust of America, Inc.

Healthcare Trust of America, Inc. is a self-managed, publicly registered, non-traded real estate investment trust. Since January 1, 2010, HTA has acquired approximately $344.5 million in medical office and healthcare-related assets. These assets include a total of 17 acquisitions representing approximately 1.5 million square feet. Since its formation in 2006, HTA has made 68 geographically diverse acquisitions valued at approximately $1.8 billion based on purchase price, which includes 208 buildings and two other real estate-related assets. HTA’s portfolio totals approximately 8.9 million square feet and includes 189 medical office buildings, six hospitals, nine skilled nursing and assisted living facilities and four other office buildings located in 24 states.

FORWARD-LOOKING LANGUAGE

This press release contains certain forward-looking statements with respect to HTA.  Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management’s intentions, beliefs, expectations, plans or predictions of the future, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements.  These risks, uncertainties and contingencies include, but are not limited to, the following: the acquisition of [each of] the buildings in the Portfolio may not be completed if the conditions to closing are not satisfied; the strength and financial condition of the buildings; the strength and financial condition of the tenants; uncertainties relating to the local economies of Albany, New York, North Adams, Massachusetts, and Temple Terrace, Florida; uncertainties relating to changes in general economic and real estate conditions; uncertainties relating to the implementation of recent healthcare legislation; uncertainties regarding changes in the healthcare industry; the uncertainties relating to the implementation of HTA’s real estate investment strategy; and other risk factors as outlined in HTA’s periodic reports, as filed with the Securities and Exchange Commission.

SOURCE Healthcare Trust of America, Inc.

Luxury Real Estate in Las Vegas Remains Unsettled

Luxury Real Estate in Las Vegas Remains Unsettled

Luxury Real Estate in Las Vegas Remains Unsettled-Image via Wikipedia

Luxury Homes of Las Vegas just released their 3rd quarter luxury real estate market report.  Luxury homes selling at or above one million dollars were down by 14% over the same period last year.  Luxury homes selling at or above three million dollars were up by 7% from this same period last year.  “September was a fairly solid month relative to current market conditions.  We had a total of 19 sales close in the month versus just 17 for the same month last year.  The market remains challenging, but sales are happening,” noted Kenneth Lowman, Broker and Owner of Luxury Homes of Las Vegas.

The highest luxury home sale thus far in 2010 was for $7,000,000 in late January in The Ridges.  The fastest luxury home sale took just four days to sell.  Luxury Homes of Las Vegas reports a 46% market share of the luxury home sales over $3,000,000.  There has been 101 luxury homes sold over $1 million through the third quarter of 2010.

Lowman further stated, “The luxury market has some positive signs and some negative signs.  The positives are that the current reduced price levels are attracting buyers.  The negatives are bank foreclosures have entered into the luxury market and it will take time to clear some of this inventory, which could keep prices at these reduced levels for the near term.”  In September approximately 10% of the luxury home sales over one million dollars were bank owned, a low percentage compared to the general market.

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.  Because the Southern Nevada luxury real estate market pivots on Ken’s home sales, he’s perceived as a barometer for the national media and has been featured on “The Today Show,” “Fox Business,” “Nightline,” “EXTRA” and “Inside Edition.”  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.

Contact: Kenneth Lowman
(702) 216-4663
klowman@luxuryhomeslv.com

Fort Lauderdale Area Home Sales Rise 7%

Fort Lauderdale Area Home Sales Rise 7%

Fort Lauderdale Area Home Sales Rise 7%-Image via Wikipedia

Median sales price of single-family homes in the Fort Lauderdale Metropolitan Statistical Area (MSA) increased seven percent to $214,200 compared to September 2009, furthering the strengthening market trend.

Residential sales in Broward County fell in September, but are still stronger than they were two years ago when they began climbing. In Broward County, single-family home sales decreased 16 percent compared to September 2009, but are 10 percent above what they were in September 2008 according to the MIAMI Association of REALTORS and the Southeast Florida Multiple Listing Service (SEFMLS).

Condominium sales dropped 4 percent in September, but were a significant 51 percent higher than they were two years ago. The Broward County real estate market has experienced rising residential sales for nearly two years, beginning in August 2008. While sales are fluctuating somewhat, sales levels are still reflective of market strengthening and stability.

“While sales appear to have slowed slightly, current Broward County market fundamentals are indicative of positive performance,” said Terri Bersach, 2010 president of the Broward County Board of Governors of the MIAMI Association of REALTORS. “International buyers continue to play an important role in strengthening the local market.”

Statewide sales increased 10 percent to 5,675 for condominiums and dropped eight percent for single-family homes to 13,536. Nationally, sales of existing single-family homes, townhomes, condominiums, and co-ops rose 10 percent from August, but remain 19.1 percent below September 2009, according to the National Association of Realtors (NAR).

Home Prices
Condominium sales in Miami were slower to rebound than that of single-family homes. The median sales price for condominiums was $71,600, down nine percent from a year ago. Statewide median sales prices decreased eight percent to $133,400 for single-family homes and 18 percent to $83,400 for condominiums.

Average sales prices, which have increased consistently over the last few months, rose again in September for single-family homes but dropped for condominiums. According to the SEFMLS, the average sales price in Broward County in September increased 8.5 seven percent from the previous year to $275,481 for single-family homes and decreased 11.6 percent to $111,117 for condominiums.

Days on the Market and Inventory Levels Decrease
Continuing signs of market activity, the inventory of residential listings in Broward County dropped seven percent from 21,886 to 20,400 since September 2009, according to the SEFMLS. The levels of active single-family home listings rose five percent, while that of condominiums fell 13 percent from a year ago. Compared to last month, the total inventory of homes decreased four percent. The average days a property stays on the market decreased 8.5 percent to 87 for single-family homes and 10 percent to 88 for condominiums. Nationally, total housing inventory at the end of September fell 1.9 percent from the previous month.

“Falling inventory and decreasing days on the market are very positive signs for the Broward County real estate market,” said Natascha Tello, president-elect of the Broward County Board of Governors of the MIAMI Association of REALTORS. “The foreclosure and short sale markets have created incredible opportunities for those who may have been priced out of the market before.”

About the MIAMI Association of REALTORS
The MIAMI Association of REALTORS was chartered by the National Association of Realtors in 1920 and is celebrating its 90th year of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of four organizations, the Residential Association, the Realtors Commercial Alliance, the Broward County Board of Governors, and the International Council, it represents more than 23,000 real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local association in the National Association of Realtors, and has partnerships with more than 60 international organizations worldwide. MIAMI’s official website is http://www.miamire.com.

Note: The MIAMI Association of REALTORS and the Southeast Florida Multiple Listing Service are the sources for statistics reported by the National Association of Realtors and Florida Realtors. MIAMI reports average sales price as well as median sales price.

HighTower Adds Two New Advisory Teams

HighTower Adds Two New Advisory Teams

HighTower Adds Two New Advisory Teams-Image via CrunchBase

HighTower, the first open-source, advisor-owned financial services company, announced that it has expanded the firm’s advisory talent on the West Coast with two new advisor teams in Menlo Park, Calif.

“The trend toward independent advice continues to reshape the financial services landscape, and HighTower’s open source model directly reflects this momentum,” said Drew Kornreich, HighTower’s President. “We expect to continue welcoming experienced advisory talent, as more financial professionals seek greater autonomy and flexibility in serving their high net worth clients.”

Thomas McGuirk, a Managing Director at HighTower, previously co-founded Martin Thomas Wealth Management in 2008. Prior to that, he was Vice President in wealth management at Smith Barney, where he was named “One of America’s Top Planners” by the Consumers’ Research Council. He was also profiled in The Winner’s Circle V: Wealth Management Insights from America’s Best Financial Advisory Teams. Mr. McGuirk started his career at Sanford C. Bernstein Investment Research and Management. He is a six-time National Champion and two-time Olympian, having represented Ireland in the 400 meter hurdles at the 1996 Atlanta and 2000 Sydney Olympic Games.

Mr. McGuirk and his team are the second advisor team this year to join HighTower after already forming their own firm as a Registered Investment Adviser.

Mike Deggelman also joins HighTower as a Managing Director and has been in the financial services industry for more than 30 years. Previously, he was an advisor at UBS in Menlo Park and E.F. Hutton & Co., a predecessor to Smith Barney. His primary area of focus is retirement planning. Chris Parker, too, will be a Managing Director at HighTower and was an advisor with UBS in Menlo Park for more than nine years.

“Serving the best interest of clients in today’s complex world requires independence, as well as the national scope, secure custody and access to sophisticated solutions that high net worth investors seek,” said Elliot Weissbluth, HighTower’s CEO. “As HighTower expands, we are structured to help clients and advisors navigate the markets with extensive choice in the investment products and services needed to reach their objectives.”

For media inquiries, please contact Jennifer Connelly at 973-732-3521 or jenn@jcprinc.com.

About HighTower

HighTower is the first open-source, advisor-owned financial services company. HighTower advisors are experienced investment professionals with large, established practices serving high net worth and institutional clients. As a dually-registered, multi-custodial firm, HighTower provides sophisticated investment solutions as well as an independent and unobstructed view of the markets. The company is headquartered in Chicago and maintains corporate centers in New York and San Francisco and offices around the country. See www.hightoweradvisors.com.

CONTACT:
Jenn Connelly
JCPR
973-732-3521
jenn@jcprinc.com

SOURCE HighTower

LoopNet (Nasdaq: LOOP) Breaks Record for Website Visitors

LoopNet (Nasdaq: LOOP) Breaks Record for Website Visitors-Image via CrunchBase

LoopNet, Inc. (Nasdaq: LOOP), which operates the largest online commercial real estate marketplace, hit an all-time high in unique visitor traffic in the third quarter ended September 30, 2010, and widened its online visitor traffic lead among commercial property marketing and information services websites, according to Google Analytics and comScore, which are leading independent Internet traffic measurement services.

Google Analytics reports that LoopNet.com had more than 6.2 million unique visitors during the third quarter, a new high for unique visitor traffic.  Google also reports that the average number of unique visitors was 2.3 million monthly during the quarter.

According to comScore Media Metrics, which provides comparative site traffic numbers, LoopNet also reached a new high in terms of traffic relative to other commercial real estate websites.  comScore reports that LoopNet.com generated 9.4 times the traffic of its nearest competitor for the first nine months of 2010 (January through September).  This continues a long-term trend of LoopNet increasing its share of commercial real estate search traffic: during 2007, LoopNet generated 4.6 times the traffic of the next competitor; in 2008, the multiple grew to 6.1 times; in 2009, it grew again to 7.1 times the next closest site; and now it stands at 9.4 times.

According to Mike Manning, Vice President of Marketing, “The fact that LoopNet is hitting all-time highs in both absolute unique visitor traffic and in our traffic multiple versus the competition is a clear testament to the energy and effort that we have invested in delivering increased value to our customers over the past year.  We have launched a number of innovations to help our members improve their knowledge of the market, access properties and drive increased distribution of listings and other information.  These include a new Property Research Database of over 7.5 million records; iPhone and iPad mobile apps; data on asking price trends; and free personalized marketing websites for our members.”

“The fact that LoopNet generates 9.4 times the traffic of its nearest competitor,” he continued, “translates into unparalleled exposure for our members who are seeking to market their properties for sale and for lease.”

About LoopNet

LoopNet, available at http://www.LoopNet.com, operates the most heavily trafficked commercial real estate marketplace online with more than four million registered members and more than six million unique visitors quarterly as reported by Google Analytics.  LoopNet also now offers one of the largest commercial property databases with more than 7.5 million commercial property records.

The LoopNet marketplace 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 June 30, 2010, the LoopNet marketplace featured more than $450 billion of property available for sale and 6.8 billion square feet of space for lease.

LoopNet customers include virtually all of the top commercial real estate firms in the U.S., including Cassidy Turley, Coldwell Banker Commercial, Colliers International, Cushman & Wakefield, Grubb & Ellis, Jones Lang LaSalle, Lincoln Property Company, NAI Global, Newmark Knight Frank, ProLogis, The Shopping Center Group and Sperry Van Ness.

Forward-Looking Statements

This release contains forward-looking statements regarding our share of commercial real estate traffic, our efforts to differentiate our online commercial marketplace, deliver increasing information and value to 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, whether additional services will lead to new registered members, our ability to convert them into Premium Members and retain them, our ability to continue to attract unique visitors to our website, 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 website 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.

SOURCE LoopNet, Inc.

CONTACT: Cary Brazeman, +1-310-205-3590, pr@LoopNet.com

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