Tag Archives: for sale

Real estate finance expert joins Ian Black Real Estate team

via Tampa Bay Newswire

george-kruse-hi-res-240x300

George Kruse brings with him more than 20 years of real estate finance experience

SARASOTA, Fla. (Dec. 21, 2016) – Real estate finance executive George Kruse has joined the Ian Black Real Estate (IBRE) team as a Sales Associate in the firm’s Sarasota office. Kruse brings with him more than 20 years of experience on both the debt and equity sides of commercial investments. In addition to his role as a commercial broker, he will provide the IBRE team with guidance in value creation, financing opportunities and an understanding of the present debt and equity environments.

Kruse is also a Senior Managing Director at Osprey Capital, a Tampa-based commercial real estate finance company, specializing in the financing of value-add investment opportunities.

“We’re thrilled to welcome George to the team,” said Ian Black, partner at Ian Black Real Estate. “His experience on the financing side of the industry is a valuable add-on to our existing skill set and will go a long way in providing our clients with the highest level of service available.”

Leveraging Kruse’s expertise in the finance industry will allow the IBRE team to better assess opportunities for clients and maximize their investment potential.

Previously, Kruse spent more than seven years as the sole managing director of Vesta Equity, LLC, a private real estate investment fund based in Sarasota. Under his leadership, Vesta made over $200 million in small balance senior and equity investments nationwide. He also oversaw both the lending and investment divisions and structured the fund’s capital deployment strategies.

Prior to that, he served as an Investment Officer at CapitalSource Finance in both the New York and Orlando offices. At CapitalSource, Kruse was directly involved in over $600 million in commercial loan and hypothecation line transactions.

Kruse earned his bachelor’s degree in finance and management from the University of Florida and his Master of Business Administration from Columbia Business School. He recently obtained his Florida Real Estate license.

“It’s an honor to join the Ian Black team and put my experience in real estate finance to use in this side of the industry,” said Kruse. “I’m looking forward to starting my career as a commercial sales associate and working alongside such a strong team of brokers in the Sarasota market.”

Kruse is currently on the Advisory Board for the University of Florida’s Masters of Science in Real Estate (MSRE) program, as well as the Board of the Columbia University Club of Sarasota. He is a member of the International Council of Shopping Centers (ICSC) and the Sarasota Commercial Investment Division (CID), and is regularly asked to moderate and sit on panels about private commercial financing.

About Ian Black Real Estate
Ian Black Real Estate (IBRE) is a boutique commercial real estate brokerage firm located in Sarasota, Fla. The firm is one of the largest commercial brokerage firms in Southwest Florida and boasts a deep knowledge of the commercial real estate market in Sarasota and Manatee counties and the surrounding area. For more information, visit ian-black.com.

Click here for original press release

Sean Dreznin from Ian Black Real Estate sells another investment property! 1739 Siesta Dr in Sarasota, FL

Sean Dreznin from Ian Black Real Estate sells another investment property! 1739 Siesta Dr in Sarasota, FL.

Benderson unveils new hotel plans

Benderson unveils new hotel plans

by: Pam Eubanks | Senior Editor via Observer.com

Benderson Development is one step closer to fulfilling its vision to make its University Town Center project a one-stop venue for visitors to Manatee and Sarasota counties.

The company last week broke ground on the first of several future hotels, totaling 500 rooms, surrounding The Mall at University Town Center.

The first is a 130-room Homewood Suites. The six-level hotel will be 79 feet tall and have 115,000 square feet.

“Our plan is a total deviation from Hilton’s prototype for the Homewood Suites flag,” said Todd Mathes, Benderson’s director of development. “Hilton scrutinized our plans over the past year or so and only very recently issued its approval.”

Mathes said the limited-service hotel will have significant upgrades in terms of finishes, design and materials. This includes higher quality furniture and a different design. “We stepped up everything,” he said.

The hotel is scheduled to open in the first quarter of 2016.

Benderson Development (doing business as Buffalo Lodging Associates) owns and operates about 40 Hilton and Marriott brand hotels, including the Courtyard Sarasota University Park and Hampton Inn & Suites Sarasota/Lakewood Ranch, across University Parkway. It typically builds within prototypical standards, but is making improvements to match the new Homewood Suites location with the aesthetics and quality of the surrounding properties.

Additionally, the Homewood Suites location, at the southwest corner of Cattlemen and DeSoto roads, will be a recognizable location.

– See more at: http://www.yourobserver.com/news/east-county/Front-Page/0128201538415/Benderson-unveils-new-hotel-plans#sthash.Nnb83MTw.dpuf

Rosemary project near downtown Sarasota continues advancement

Rosemary project near downtown Sarasota continues advancement

by: Alex Mahadevan | Digital Content Producer

A $20 million mixed-use project planned for the Rosemary District continues to navigate the development process, while a new overlay district promoting redevelopment becomes a reality.

Sarasota city commissioners unanimously approved a purchase and sale agreement for Rosemary Square Monday, which includes the sale of city-owned land on the 1400 block of Boulevard of the Arts and Fifth Street for $1.05 million to the developer. The contract mandates a redevelopment agreement between the city and Rosemary Square LLC within 120 days, and for construction to start 30 days after closing.

“In that redevelopment agreement we get into details and milestones of the project,” said Sarasota Chief Planner Ryan Chapdelain.
Those include the type of permitted uses for the property, if and how many phases in which construction will be conducted and other development constraints.

The development team, led by Mark Kauffman, plans to build 40 urban apartments “affordable as rental units for young professionals,” 34,000 square feet of a mixture of retail, office and arts space and a 7,000-square-foot town square. Rosemary Square will also include 40 parking spaces, according to the firm’s invitation to negotiate documents.

Rosemary Square stakeholders have stressed an emphasis on arts in the development, and have initial plans for a boutique cinema or live theater company.

For complete article, CLICK HERE <——=======

List of current Condo Developments in Sarasota, FL getting started in 2014-2015

List of current Condo Developments in Sarasota, FL getting started in 2014-2015

Rendering of Aqua 280 from www.aqua280.com, via Sean Dreznin's Blog

Rendering of Aqua 280 from http://www.aqua280.com, via Sean Dreznin’s Blog

The Queue in Downtown Sarasota
Click here for access to The Q home page

The Jewel
Bayfront Sarasota Luxury Condominiums
Click here for more information

The SanSara
Downtown Sarasota with limited views of Bayfront
Click here to view the designer’s website

One88 on Golden Gate Point
Coastal Condominium Residences
Click here to pre-register on developers site

Aqua280
Located on Golden Gate Point, this luxurious complex looks out at the Bay and Ringling bridge
Click Here to view page

Rendering of the Vue at Gulfstream and US 41 in Sarasota, FL from the website of the Kolter Group, via Sean Dreznin's Blog

Rendering of the Vue at Gulfstream and US 41 in Sarasota, FL from the website of the Kolter Group, via Sean Dreznin’s Blog

The Vue
On Sarasota Bayfront
Currently in a pickle about additional traffic impact with the Ritz and others.
Click here to visit the website

Other developments forthcoming…

Florida Gulf Coast Investment Real Estate

List of current Condo Developments in Sarasota, FL getting started in 2014-2015

Rendering of Aqua 280 from www.aqua280.com, via Sean Dreznin's Blog Rendering of Aqua 280 from http://www.aqua280.com, via Sean Dreznin’s Blog

The Queue in Downtown Sarasota
Click here for access to The Q home page

The Jewel
Bayfront Sarasota Luxury Condominiums
Click here for more information

One88 on Golden Gate Point
Coastal Condominium Residences
Click here to pre-register on developers site

Aqua280
Located on Golden Gate Point, this luxurious complex looks out at the Bay and Ringling bridge
Click Here to view page

Rendering of the Vue at Gulfstream and US 41 in Sarasota, FL from the website of the Kolter Group, via Sean Dreznin's Blog Rendering of the Vue at Gulfstream and US 41 in Sarasota, FL from the website of the Kolter Group, via Sean Dreznin’s Blog

The Vue
On Sarasota Bayfront
Currently in a pickle about additional traffic impact with the Ritz and others.
Click here to visit the website

Other developments forthcoming…

View original post

Sarasota County uses website to keep public informed during Siesta Beach Improvement Project

Sarasota County uses website to keep public informed during Siesta Beach Improvement Project

Siesta Key Beach by Sean Dreznin

Siesta Key Beach by Sean Dreznin

by Todd Dunn

SARASOTA, FLA. – People come to Sarasota County from all over the country and the world just to visit Siesta Beach.
“I am over from Manchester, England,” said Robert Ironmonger, adding, “my wife did a little bit of research, looked for the best beaches, looked for the best resorts and picked Sarasota.”

Last month, Sarasota County started work on a two year Siesta Beach Improvement Project.
“This project is so unique, so big, so integral to our community and tourism,” said Carolyn Brown, Director of Parks and Recreation.

In an effort to keep residents and visitors informed during to $21.5 million project, the county created http://www.siestabeachinfo.com

For complete article, CLICK HERE <—-===

Sarasota multimillionaire sailing on to Belize; Selling Investment Portfolio in Sarasota & Manatee

Sarasota multimillionaire sailing on to Belize; Selling Investment Portfolio in Sarasota & Manatee

By Michael Pollick
Published: Wednesday, November 6, 2013 at 1:00 a.m.

The remodeled El Patio Apartments near the bayfront in Bradenton.  A classic building with character!

The remodeled El Patio Apartments near the bayfront in Bradenton. A classic building with character!

Great Property in Highly Desired Location - Contact NAI Tampa Bay;s Sean Dreznin or Keller William's Andrew Haddad for more information.

Great Property in Highly Desired Location – Contact NAI Tampa Bay’s Sean Dreznin or Keller William’s Andrew Haddad for more information.

Harvey Vengroff, a self-made multimillionaire who moved to Southwest Florida 23 years ago so he could go sailing every day, is sailing on — to Belize.

NAI Global (Sean Dreznin, Kyle Keelan, Phillip Paul Ginexi) & Keller Williams (Andrew Haddad) are proud to present... A portfolio of investments

NAI Tampa Bay (Sean Dreznin, Kyle Keelan, Phillip Paul Ginexi) & Keller Williams (Andrew Haddad) are proud to present… A portfolio of investments


Vengroff, the 72-year-old founder of one of the world’s largest collection agencies, plans to sell a $75 million Southwest Florida property portfolio that he amassed after arriving in 1990. He has hired NAI Tampa Bay and Sean Dreznin, Phil Ginexi & Kyle Keelan & Andrew Haddad of Keller Williams to sell the portfolio investments. He is also making it possible for his real estate employees to acquire another $20 million worth of apartments on favorable terms.

NAI Tampa Bay - Sean Dreznin

NAI Tampa Bay – Sean Dreznin

Since he got here, Vengroff has been a colorful character who prefers casual clothes, rails against government bureaucrats and tends to do things his own way.



Vengroff renamed the collection agency that is still in the family as Vengroff Williams Inc.

That company, which employs more than 100 in this region, maintains larger offices in Long Island, N.Y.; Chicago and Orange County, Calif., collecting on commercial delinquent accounts for a large number of clients, including General Electric Co., Microsoft Corp. and Google Inc.

“We are not moving anybody out of Sarasota,” Vengroff told the Herald-Tribune. “We are just going to add new people in Belize, that’s all.”

One of them will be Harvey Vengroff.

On a more personal level, Vengroff said he has been disappointed in the reception he has gotten from the City of Sarasota when he has asked for higher density rights on properties so that he could build rental apartments. Specifically, he has sought permission to build high-rise rental buildings at 2211 Fruitville Road, the close-in, 8-acre site now on the market for $8 million.

“If you want to build luxury condos you can get 200 per acre,” Vengroff said. “If you want to build affordable housing, you cannot get 50 per acre.”

Vengroff says he has empowered three agents to liquidate the roughly $75 million in real estate, most of it affordable housing.

These agents are Sean Dreznin, Kyle Keelan and Phil Ginexi from NAI Tampa Bay.

CLICK HERE for complete article <—==========

“I don’t think there was anybody who ever dedicated themselves more to affordable housing for the work force than Harvey,” said Kerry Kirschner, executive director of Argus Foundation, who in a former political life helped recruit Vengroff to Southwest Florida.

8 multi-family units for sale in Palmetto, FL ** Make Offer

8 multi-family units for sale in Palmetto, FL ** Make Offer

photo 2

mcgis-2013-07-11-10-36-06 (2)

2 Blocks from US 41

Concrete block construction

Central A/C

Tenants pay all utilities

INVESTMENT SUMMARY

Price: $385,000
Year Built: 1981
Units: 8
Price/Unit: $48,125
RSF: 7,776
Price/RSF: $49.51
Lot Size: 44,600 sf
Floors: 1
Cap Rate: 10.08%
Market Cap Rate: 10.49%
GRM: 6.2
Market GRM: 6.1

Demand for rentals soars in Southwest Florida

Demand for rentals soars in Southwest Florida

citrus meadows

By Josh Salman

The cost of residential rent in Southwest Florida is climbing at one of the fastest rates in the nation, as recession-battered borrowers pushed out of their homes through foreclosure turn to leased apartments for a place to live.

Facts
BY THE NUMBERS
Southwest Florida’s rental market soars

• Nation’s fourth highest occupancy at 96.9 percent in February
• Nation’s sixth-steepest price increase at 6.68 percent
• Average rent of 89 cents per square foot
• More estimated growth of 3 percent annually through 2017

Source: Axiometrics Inc.
From college students to young families and retirees, an influx in new demand for residential leases is now pushing rental occupancies in Sarasota and Manatee counties to well beyond those in powerhouse markets like San Francisco, Manhattan and Chicago.

Coupled with appreciating home prices for buyers, the cost of basic shelter in Southwest Florida is now outpacing wage adjustments for the first time since the housing slump took hold six years ago.

“Anything I have that’s rentable is rented,” said Harvey Vengroff, who operates 1,400 workforce housing rentals in greater Sarasota. “People who work at the mall or in a labor job can’t afford the rents that are out there. That’s the market we’re moving into.”

Sarasota-Bradenton-Venice showed the fourth highest rental demand of all metropolitan statistical areas in the nation, boasting an average occupancy of 96.9 percent during February, according to the apartment data provider Axiometrics Inc.

Only Naples, Nassau, N.Y., and Edison, N.J., had better rental occupancy rates last month.

For complete article, CLICK HERE <——-==============

SOLD *** HED 3 Carbon Wheelset ** 700c ** FOR SALE

HED 3 Carbon Wheelset ** 700c ** FOR SALE

$925 for set… Cassette and tires included.

HED 3 Carbon Wheelset ** 700c ** FOR SALE

HED 3 Carbon Wheelset ** 700c ** FOR SALE

HED 3 Carbon Wheelset ** 700c ** FOR SALE

HED 3 Carbon Wheelset ** 700c ** FOR SALE

HED 3 Carbon Wheelset ** 700c ** FOR SALE

HED 3 Carbon Wheelset ** 700c ** FOR SALE