CMBS Multifamily Demand Has Roared Back

Sabal is seeing an increase in multifamily borrower demand for CMBS product following the agencies’ summer pause. 

By Kelsi Maree Borland | November 08, 2019 via Globe St.com

Multifamily borrowers are finding alternatives to the agencies. Irvine, California-based lender Sabal Capital Partners recently closed on the $70 million refinance of a 17- property multifamily portfolio in the Bronx borough of New York through its S-CRE program. The portfolio includes five loans secured by a total of 477 rental units. The borrower refinanced out of a Freddie Mac loan, and the deal is an example of growing interest in alternative loan options.

“We had financed the property through the Freddie Mac program earlier, so we new the real estate and we new the operator,” Pat Jackson, founder and chief executive of Sabal, tells GlobeSt.com. “It so happens that they needed to finance the property because it was rolling into a maturity term, and the agencies went through a period of time this summer where they were not very competitive. We had a non-agency solution that was terrific, and it gave them some benefits that they would not have been able to get through the agency program.”

The agencies’ pause in activity this summer left some concern in the market about lending alternatives, but it also created an opportunity for lenders like Sabal to address the market demand. “It was really our opportunity to pivot and give them a product that met their requirements,” says Jackson. “The big benefit is that Sabal is looking across the broad sector of how we can provide capital solutions to our borrowers.”

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Sarasota Sky Bar & Club to open Friday

The nightclub is slated to open in the Charles Ringling building on the east end of downtown this weekend.

by: Alex Mahadevan News Innovation Editor

Following some delays, downtown Sarasota’s newest nightclub will open this weekend in the historic Charles Ringling building.

Sarasota Sky Bar & Club will open at 4 p.m. Friday, Sept. 23, at 1927 Ringling Boulevard, which is adjacent to McCurdy’s Comedy Theatre. The club will feature 1960s-themed local band Robin and the Retros starting at 8 p.m., with a $5 cover to get in, said co-owner Tony Tannus.

Democracy, a reggae band, will play during the same hours Saturday.

“We have to mix it up,” said Tannus, who said he wants to focus on bringing in a mature crowd to the non-smoking building. “I’m not bringing in 20 year olds to bounce around.”

Tannus, who also co-owns the Meadows Village Pub & Grill, said the 7,000-square-foot size of the interior, and its history, attracted him to the property. Charles Ringling, John Ringling’s brother, constructed the two-story building in 1926.

“His office is still up there,” Tannus said.

 

Sean Dreznin & Jag Grewal from Ian Black Real Estate handled both sides of the transaction.

Sarasota Sky Bar & Club opening in downtown Charles Ringling Building

By Wade Tatangelo , Herald-Tribune / Thursday, August 25, 2016

 

Tony and Marie Tannus, and business partner Alex Hagush, have leased the Charles Ringling Building and are currently renovating it. They plan to open Sarasota Sky Bar & Club in early September.

The Charles Ringling Building, which has been a downtown Sarasota landmark since its construction in 1926, has a new tenant.

Sarasota Sky Bar & Club will have a soft opening Sept. 9 in the venue perhaps best known this century for housing Margarita Maggie’s.

Sean Dreznin, with Ian Black Real Estate worked with Alex & Tony to come to terms on Sarasota Sky.  Sean, Jag Grewal & Amy MacDougall represented the owners of building.

Margarita Maggie’s and Froggy’s, the more recent tenant at 1927 Ringling Boulevard, were nightclubs that targeted people in their 20s, with DJs typically playing electronic dance music, hip-hop and other Top 40 hits. There were occasional live shows, too, such as when rapper Vanilla Ice performed at Margarita Maggie’s in 2002.

Sarasota Sky, a smoke-free establishment, wants to attract people in their 30s to 60s with bands playing more timeless tunes with the same goal of keeping the dance-floor packed and the alcohol flowing.

“Stop for a drink, stay for the music,” is Sky Bar’s motto.

…

Tannus said he has booked musicians including Beatles tribute band The Glass Onion, reggae groups Jah Movement and Democracy, Oceans Eleven Big Band, Sarasota Rhythm Section, Robin & the Retros, and Nothin’ Past Midnite. These are acts with local followings known for playing familiar, dance-able cover songs, largely from decades past.

“I like downtown but there’s nothing like this,” Tannus said while offering a private tour of the bar and dance club.

“This concept has been thoroughly researched and has the proven operators to succeed where others may have missed their mark,” Dreznin said while describing Alex & Tony and Sarasota Sky.

…

When Sky Bar opens next month patrons will be met by a doorman and two options. Go right, and you’ll find a polished concrete dance floor and an elevated stage featuring an impressive sound system with the large wall behind it adorned with an illuminated, 15 by 25 foot photo of the Cà d’Zan. There will also be tables and a huge granite bar with Chicago-style bar rails made of poplar and LED lights dangling from above.

Turn left, and there’s the same granite bar, a second bar, a wine rack, and a room with a billiards table.

An interior balcony, which will serve as a lounge area, overlooks the stage and dance floor. The walls have been covered with faux brick panels.

By October, patrons should have another option upon entering: a second floor room, accessible by stairs or elevator, with its own bar, another billiards table and darts in a more cozy setting.

The Charles Ringling Building also has a third floor. It has what appear to be the original cypress floors and matching exposed ceilings with windows providing views of downtown. It also has its own street entrance.

More information: sarasotasky.club

For complete article, CLICK HERE <—–

Second house razed for Tampa Bay Lightning & Channelside owner, Jeff Vinik’s new estate

Second house razed for Tampa Bay Lightning & Channelside owner, Jeff Vinik’s new estate

Ringling Bridge Sunset in Sarasota, FL – Heading out towards St. Armands

by Harold Bubil , Herald-Tribune

Tampa Bay Lightning owner Jeff Vinik and his wife — fresh off a victory in acquiring the Channelside property in Tampa — have taken the first significant steps to develop a grand residence on St. Armands Key that could have dramatic views of downtown Sarasota.

To that end, demolition has begun on a 64-year-old house at 132 N. Washington Drive that the Viniks bought in May for $3.5 million.

That deal followed the 2013 acquisition by Vinik and his wife, Penny, of a 12-year-old house next door, at 112 N. Washington Drive. The couple paid $4.25 million for it before tearing it down.

Taken together, the two houses measured 9,200 square feet.

The Viniks plan to replace those residences with one that will cost $3.6 million to build, according to a City of Sarasota building permit.

To view a unique property for sale on Golden Gate Point in sarasota, CLICK HERE <—-=====

For complete article and others by Mr. Bubil, CLICK HERE <—–======

Exercise as good as drugs for treating stroke, heart disease: study

Exercise as good as drugs for treating stroke, heart disease

Healthy Living

Relaxnews

PARIS (AFP) — Exercise may be at least as effective as some drugs in reducing the risk of death in stroke patients or people with heart disease, a study published on Wednesday said.
Researchers from the London School of Economics, Harvard Medical School and Stanford University School of Medicine compared the findings of several studies into the effectiveness of exercise versus drugs in people with coronary heart disease, stroke patients, people with prediabetes and those with heart failure.
They analyzed the results of 305 randomised controlled trials involving 339,274 individuals.

The data trawl “found no statistically detectable differences” between exercise and drug treatment in reducing mortality for people with coronary heart disease or prediabetes symptoms, according to a statement released by the British Medical Journal (BMJ), which published the study online.
In stroke patients, the team found that exercise was more effective than drugs, while medicine worked better at treating heart failure.

… CLICK HERE for some healthy product options

Until more is known, exercise “should be considered as a viable alternative to, or alongside, drug therapy”, the team wrote.

The World Health Organisation (WHO) says physical inactivity is the fourth-leading risk factor for global mortality, causing an estimated 3.2 million deaths globally each year.

TLS Find your Fit Challenge starts tomorrow – MISSION 195

TLS Find your Fit Challenge starts tomorrow – Blog Updates

Since the Find your fit challenge starts tomorrow, I am enjoying a couple of the finer things in life today! More like sweeter things in life!

A black and white cookie & an M & M cookie! (Gazillion calories)

A strawberry Lean 1 smoothie (Medium) from Smoothie King (430 calories)

Whole foods carob spirulina chunks (450 calories)

Supreme Caramel Chocolate Protein Bar (400 calories)

A publix turkey wrap (approx 400 calories)

Tonight at work I will have a blackened chicken salad with cranberries, goat cheese and cusabi dressing. (im guessing 600-700 calories) I add a banana and some strawberries.

A Dos Equis awaits with the salad.

Then tomorrow its Detox Day 1!

Let’s do this.

MISSION 195

Fantasy Football Week 8 & 9 recap and Week 10 predictions * The Perspective * Muscle Hamster Style

Fantasy Football Week 8 & 9 recap and Week 10 predictions * The Perspective * Muscle Hamster Style

Mucle-Hamster Style

“4 More Years… It’s like the Groundhog came out, flipped us off, took a dump and here we go again.”

Standings after week 9.

Come Back Kid 8 1 .889 —
Team Pounder 8 1 .889 —
Team A-shift RULES 6 3 .667 2
Gipper’s Gangsters 6 3 .667 2
Jace Invaders 5 4 .556 3
Rodgers A doodle doo 4 5 .444 4
Charles in Charge 4 5 .444 4
In-Zane In The Membrane 4 5 .444 4
Over Dramatic 3 6 .333 5
Team 3-Peat Zalla 2 7 .222 6
The Worthless HERD!! 2 7 .222 6
Victory Cruz 2 7 .222 6

Looking ahead to final 3 weeks, 2 teams have clinched the playoffs.

ComeBackKid and Pounder at 8-1 are already in.

A-Shift Rules and Gipper’s Gangsters at 6-3 are on the path to success and should reach the playoffs without too much trouble.

Jace Invaders got a huge win this past week and at 5-4, should put together a redeeming run into the promised land.

The sixth and final playoff spot is up for grabs between 4 teams. Over dramatic has the toughest road, at 3-6, they must win out and hope for others to fail.

The 3 teams at 2-7 are for all intensive purposes, eliminated from the playoffs, barring some miracle finish. But, hey you never know.

This is as far as I got last week.

I am just unable to consistently write this, but I do enjoy it when I get the time.

Regardless, if anyone wants to take over, please let us know, and I will somewhat gladly hand over the reigns.

Keep Smiling!

Week 10 predictions

CBK – 158 IZITM – 144

Pounder – 133 Cruz – 89

GG – 119 CIC – 117

OD – 125 A-Shift – 124

Jace – 120 3-Peat – 100

RADD – 123 TWH – 101

Good Luck!

Siesta Key Beach Live Webcam

Another Boring Sunset on Siesta Key Beach -- The #1 beach in the US

 

http://www.seesarasotalive.com/siesta-key

 

Siesta Key Beach Live Webcam

Ford Ironman Florida Race Highlights 2011

Ford Ironman Florida Race Highlights 2011

Congrats to everyone who participated.

IM FL Race Highlights 2011

Ironman is more than an event series, it is a LIFESTYLE.

Ironman is an event series that has been built around community, passion, a deep desire to succeed, and the understanding that it’s not just a sport… to be an Ironman is to uphold a lifestyle.

In Ironman “one’s own ability” has proven to be a fluid term that each individual has the power to redefine.

A Brief History:
Since it began as a challenge between a group of Navy Seals, the Ironman has grown to become one of the most recognized endurance events in the world. Originally a combination of the Waikiki Rough Water swim, the Around Oahu Bike Race and the Honolulu Marathon, the Ironman consists of a 2.4 mile swim, a 112-mile bike ride and a 26.2 mile run.

The Longboat Key Chamber of Commerce will hold the island’s first ever triathlon and duathlon, on Sunday, October 24, 2010.

Longboat Key First Ever Triathlon

Florida’s Newest Endurance Event Set for October

The Longboat Key Chamber of Commerce will hold the island’s first ever triathlon and duathlon, on Sunday, October 24, 2010. Hosted at the Longboat Key Club & Resort, the endurance event will start at 7:30 a.m. and include a half-mile swim, 20-mile cycling ride and five-mile run. Duathlon distances will be a 2 mile run, 20 mile bike and 2.5 mile run.