Collier Lender

ORLANDO – Florida’s existing home sales rose in October, marking 14 months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors.

October’s statewide sales also increased over sales activity in September in both the existing home and existing condominium markets.

MIAMI – Three seasoned finance, investment and real estate professionals have launched Pensam Capital, a real estate funding boutique operation focusing on debt and equity investing throughout Florida.

The principals of the new venture are Michael A. Stein, former managing director of Miami’s Aztec Group Inc. and Gavin Beekman and Joe Ackerman.

Pensam Capital’s funding platform offers debt and equity funding through bridge loans and preferred equity. Pensam funds all real estate assets – including residential, commercial, hospitality and note purchases – using its own balance sheet.

ATLANTA – Edens & Avant announced the promotion of Rebecca Waters to vice president, leasing, responsible for properties in the company’s Southeast and Florida portfolios.

Since joining Edens & Avant in 2006, Waters has overseen leasing at Edens & Avant’s properties in Georgia and the Carolinas. Focused on merchandise mix at the company’s existing properties and redevelopments, Waters’ team increased leasing production by more than 50% from 2008 to 2009, with no increase in head count. In this new role, she will lead a 10-member leasing team covering 65 properties from Charlotte to Miami.

ORLANDO – Pat Werner, vice president of community and economic development for WELBRO Building Corp., has been appointed to the Commercial Real Estate Women’s (CREW) Network National Board of Directors for 2010.

Werner also serves on the 2009 CREW Network Resource Committee, served on the 2009 CREW Network Nominating Committee and is the current president of CREW Orlando.

MIAMI – The near-term remains challenging for retail property owners in Miami-Dade County, as the recession continues to reduce retail spending, resulting in higher vacancy and greater use of concessions at local properties, according to a third-quarter Retail Research Report by Marcus & Millichap.

Having already climbed 90 basis points this year to 7.6%, countywide vacancy will continue to edge to more than 8% by the close of 2009, the highest year-end level this decade.

MIAMI – Holliday Fenoglio Fowler recently arranged the sale of the site of the former Sonesta Beach Resort in Key Biscayne.

The HFF team of Executive Managing Director Manuel de Zarraga, Senior Managing Directors Dan Carlo and Dan Peek and Associate Directors Jaret Turkell and Luis Castillo served as the exclusive sale advisor to the owner of the property, SBR-Fortune Associates LLLP.

PRINCETON, N.J. – The Great Recession has officially ended and recovery will be far more robust than anyone can imagine, according to a new white paper from NAI Global Chief Economist Dr. Peter Linneman.

The economic recovery is examined and Dr. Linneman provides insight into the leading indicators that the market is stabilizing and investment activity is on the rise.