Leading Real Estate Group to Market South Beach
MIAMI, Jan 18, 2011 (BUSINESS WIRE) --
iStar Financial Inc. (NYSE:SFI), a publicly traded finance
company focused on the commercial real estate industry, announced today
that it will now have full ownership of the luxury Miami Beach real
estate condominium project "South of Fifth," located at
125 Ocean Drive.iStar Financial has engaged Cervera
Real Estate, Inc., a South Florida real estate company, to manage
the project's marketing and sales efforts.
"iStar is excited to begin work on South of Fifth and we're confident
our successful repositioning of the property will only further
complement the property's already world-class South Beach location,"
said Anthony Burns, Senior Vice President of iStar Financial.
"South of Fifth is a truly unique, opulent beachfront property in one of
world's most in-demand locations. Expansive views and trained
hospitality professionals will further add to the feel of a grand
private residence, together with immediate access to South Beach's great
luxury conveniences," said Alicia Cervera Lamadrid, President of Cervera
iStar Financial plans to rebrand South of Fifth, reposition the
condominium in the market and redesign the intimate, seven-story
beach-front condo with a multi-million dollar investment. South of Fifth
currently features 28 oceanfront residential units, three office units
and one retail unit. Units range in size from 660 square feet to 6,240
square feet. Amenities include private lounge, gym facilities,
beachfront pool, private beach club, hotel services, as well as 24-hour
valet, security and concierge. For additional property information and
media relations, contact Adriana Aragon at TARA, Ink. Public Relations, email@example.com,
305-864-3434, ext. 188.
About iStar Financial, Inc.
iStar Financial Inc. is a publicly traded finance company focused on the
commercial real estate industry. The Company primarily provides
custom-tailored investment capital to high-end private and corporate
owners of real estate, including senior and mezzanine real estate debt,
senior and mezzanine corporate capital, as well as corporate net lease
financing and equity. The Company, which is taxed as a real estate
investment trust ("REIT"), provides innovative and value added financing
solutions to its customers. Additional information on iStar Financial is
available on the Company's website at www.istarfinancial.com.
About Cervera Real Estate, Inc.
Cervera Real Estate, Inc. is a leading luxury real estate company
focusing on the South Florida market, specializing in comprehensive
programs at all stages of the sales and marketing process. The
multi-lingual company launched in 1969 and is led by Founder Alicia
Cervera, Sr., President Alicia Cervera Lamadrid and CEO Veronica Cervera
Goeseke. Additional information on Cervera Real Estate is available at www.cervera.com.
SOURCE: iStar Financial Inc.
For iStar Financial Inc.
Adriana Aragon, 305-864-3434 Ext. 188