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Saturday, 26 May 2012

Encore Realty Offers Stunning Custom Home At Mediterra PRWeb

Encore Realty Offers Stunning Custom Home At Mediterra

PRWeb
Published 10:03 a.m., Tuesday, April 3, 2012
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    (PRWeb)

PRESS RELEASE

The company that placed this press release with PRWeb is responsible for its content. It is not edited by the Albany Times Union.
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Encore Realty, LLC is offering an extraordinary custom built estate home in the Community of Mediterra located in North Naples, Florida. 15923 Roseto Way is offered for sale at $5,950,000. A one of a kind luxury home that is a must see.
Naples, Florida (PRWEB) April 03, 2012
Encore Realty, LLC is offering an extraordinary custom built estate home at Mediterra in North Naples.
Located at 15923 Roseto Way in the Benvenuto neighborhood of Mediterra, this stunning two-story, 9,760 total square foot Mediterranean-style estate home was built by Kurtz Homes. It sits on a spectacular homesite with private long lake and fairway views. The residence features five-bedroom plus a den, five and one-half bathrooms and more than 6,300 square feet of living area.
“This is an amazing property!” said Dante DiSabato, Listing Agent for Encore Realty. “It is located within a world-class Naples community with easy access to all of the best that Naples has to offer and has been immaculately maintained.”
The opulent exterior utilizes stately stone with corbels along the roofline, a columned atrium & a Porte Cochere. Architectural details include a barrel, groin vault, wood beamed ceilings with hand painted detail, an ornate stone fireplace, custom wide crown molding, an ornate caged elevator with iron handiwork, marble and hardwood flooring, arched passageways, Corinthian columns, & French doors opening to outdoor terraces.
Home amenities include state of the art gourmet kitchen, security cameras, furniture style cabinetry, a morning room, a custom wine cellar and butler's pantry with coffee bar. There is an open family room with bar area. The Master wing offers a study as well as a master bedroom and bath. There are two full guest suites located on the second floor. Outdoor spaces include the cabana, classical gardens, a free form pool and spa, elegant fountains, a covered loggia and a summer kitchen with a fireplace. The home is priced at $5.95 million.
There are only 11 homes within the Benvenuto single family estate enclave within Mediterra. Tucked away on Roseto Way, each home has a view of the lake or the first fairway of the South golf course. The community is close to the north end of Mediterra yet still remains in the Collier County border. Each home has been built since 2001 and range in size from 3,500 to over 7,000 feet in living space.
Mediterra is a 1,700 acre, gated master-planned community in North Naples, Florida. With less than 950 residences and more than 1000 acres of preserves, lakes, parks and open space, the community is designed with the intimacy, charm and classical style of the Mediterranean region of Europe. The community is priced from $ 500,000 to over $7 million.
Mediterra includes two Tom Fazio-designed golf courses, a state-of-the-art golf learning center, a 25,000-square-foot clubhouse, a sports club with pool, tennis, fitness center and spa. The Club at Mediterra is the world's only private 36-hole facility to be certified with the Audubon International's Silver Sanctuary program. Eight miles of paved walking and biking trails meander through Mediterra, connecting a series of three themed neighborhood parks. The private Mediterra Beach Club on the Gulf of Mexico features an elevated swimming pool, spa, expansive sun deck and indoor and al fresco dining overlooking 200 feet of shoreline.
Encore Realty, LLC is a full service real estate company, located in Naples. Encore Realty is a member of a vertically integrated group of companies that includes Encore Realty, Encore Development, Encore Asset Management of Florida/Ohio and Gateway-Encore Resort Management Services. The company’s market knowledge and extensive experience means Encore is able to offer its clients unparalleled guidance based on extensive market research capabilities, while operating at the highest level of integrity and honesty.    
For more information call Broker Associate, Dante DiSabato, at (239) 537-5351. Encore’s Naples office is located at 2240 Venetian Ct. For more information, visit the company website at http://www.Encore-Realty.com.
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/4/prweb9359554.htm
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Thursday, 24 May 2012

Goldman deal is a one-off, commercial realty is going down by Sunainaa Chadha May 24, 2012

Goldman deal is a one-off, commercial realty is going down

by Sunainaa Chadha May 24, 2012

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India’s commercial realty space, plagued by the slowdown and resulting overcapacity, has just got a major boost from a US banking group. According to a report in the Economic Times, Goldman Sachs has agreed to take on lease a 1.6 million square foot office space on  Bangalore’s Sarjapur outer ring road.  This is the largest property deal in India in the leasing space, the second largest being IT firm Cisco for 700,000 square feet earlier this year, also in Bangalore.
The bank will pay a rent of Rs49 per square foot a month – about Rs 60 crore a year for a million square feet, the report said. Local property company, Kalyani Developers, will construct a three-building campus for the bank, which will initially lease one million square feet. Goldman will lease the remaining 600,000 square feet in a second phase. However, the deal appears to be a steal as the office space will only be ready in 2017, and taking inflation into account, Rs 49 per square foot is extremely cheap, industry experts told Firstpost.
In a  market where companies are increasingly looking at cutting costs by consolidating their different offices within a city to single, large and cheaper locations, the Goldman Sachs deal  sets a benchmark, Ravi Ahuja, Executive Director, Office Transactions, India Cushman & Wakefield told Firstpost.  Given that the largest Indian commercial sales realty (Citigroup’s Rs 985 cr office deal) was also closed recently in Bandra-Kurla Complex in Mumbai, there is an indication that although commercial realty is witnessing a slowdown in terms of occupancy, their commitment to grow their operations and businesses in India still remains, he explained . “As long as developers continue to provide quality spaces at the right prices/rentals and occupiers can see a favourable value proposition, such deals will be struck,” said Ahuja.
There are some larger commercial space requirements floating in the market, but no deals have concluded so far. Reuters
Not, everyone agrees with this. Many feel the Goldman deal is just a one-off case and the commercial space is still suffering from innumerable problems like a halt in financing projects, RBI disallowing restructuring of loans, new FSI norms and a slowdown in the global economy. One property consultant who did not want to be named pointed out that Goldman Sachs is often known for funding the realty space, if the company is getting such a cheap deal it must be providing some form of finance restructuring to the developer.
“The Goldman Sachs deal has been in the pipleline for many years now, it does not mean the market is catching up. In fact Bangalore saw some pick up in the first quarter of this year and that too majority of demand in the first half of 2012 was spillover of work-in-progress deals from 2011, but the second quarter numbers are looking weak, Anuj Nagpal director, investment advisory, DTZ, an international property consultant told Firstpost.
Currently US companies contribute 48 percent of the total office space demand in India, followed by India (27 percent) and other European nations (14 percent), according  to property consultant Jones Lang LaSalle. However, demand from these US companies has been stagnant in the last couple of quarters. Over the last few months as companies have become more cautious and seem to be re-evaluating/deferring their expansion plans, said JP Morgan’s real estate analyst Saurabh Kumar in a recent report. “Delivery timelines of number of ongoing projects have been pushed back due to tight funding environment,” he had said.
In India, commercial realty is largely driven by IT-ITes companies. But given the current weak macro environment, most of the IT companies have posted negative or flattish growth in the fourth quarter. And this is likely to continue for at least another two quarters, depending on the situation in the US and Europe. ” Most IT companies have cut their realty budgets till their clients abroad sign more deals, until demand picks up in the IT sector, demand in the real estate space will continue to be bleak,” Pankaj Kapoor, managing director of property consulting firm Liasas Foras told Firstpost.
Moreover, all the big deals in the office space have already taken space. Most of the financial services firms and IT companies that had to consolidate operations under one large roof in India have done so when the going was going in the West “Standard Chartered, Enam, Kotak, Deutsche Bank, Citibank etc have all consolidated their ops, said Nagpal. Going forward it won’t be the MNC but the local businesses that will drive demand. Hence not large volumes will be leased out but more smaller deals would take place.
In Mumbai too, despite the slowdown, leasing and buying activity at Bandra Kurla Complex continued to accelerate during the last two quarters. ” Over the last 24 months, the market needle has begun to point towards a landlord-favouring market, said Ramesh Nair, Managing Director – West, Jones Lang LaSalle India in a note recently. And this change in sentiment can be attributed to large deals by Citibank, Deutsche and First Rand Bank as well as the lack of new quality supply in the market in 2013 and 2014, he said. However, now that there is a supply constraint, prices are sure to rise  in the commercial space.  Lack of reasonably priced options for IT/ITeS tenants is why  Mumbai continued to register weak absorption trends in Q4.
Going forward, Kapoor says the commercial office space is only going to get from bad to worse as lease rentals have come down. There is ample inventory across India but no buyers, which is why buyers are now offering various discounts and financial incentives to lure corporates to lease large spaces. A Times of India report, recently pointed out that there are some larger commercial space requirements floating in the market, but no deals have concluded so far, Big corporates like Juniper Networks, Intel and Cyprus that are looking to occupy large spaces are yet to sign deals.

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  • Nataliajason2000 2 hours ago
    thanks for sharing this information......market has it's own trend to react to the economy as a whole.......so it takes its own time to increase or decrease.....
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