News From: CORFAC International
Media Contact: Gary Marsh (415) 453-7045 or gary@marshmarketing.com
CORFAC International Heats Up Miami with its Spring Conference Highlighting Technology, the Economy, Best Practices and Relationships
CORFAC International press contact: Gary Marsh: (415) 453-7045; gary@marshmarketing.com
Chicago, IL (March 16, 2015) –CORFAC International President Scott Savacool, CCIM, SIOR, announced that the commercial real estate association’s Spring Conference in Miami March 4-7 was a resounding success with solid networking and relationship-building, excellent technology workshops, best practice sessions, guest speakers and an awards program honoring the top joint transactions from 2014.
Keynote Speaker Lawrence Yun, Ph.D., from the National Association of REALTORS®, had numerous nuggets of useful information such as the prediction that fixed-rate residential mortgages would rise to about 6% by 2016 and that inflationary pressure is coming from rising apartment rents – 3.5% to 4% annually, which is ahead of the Fed’s inflation target of 2% to 2.5% for the overall economy. Dr. Yun also forecast that oil will hover in the $60s a barrel longer than most economists are predicting – for 3-5 years (with dips in the $50s and surges in the $70s, but mostly staying in the $60s range for the foreseeable future).
Technology Highlights:
Best Practices workshops:
Duncan Patterson, CCIM, a founder of Patterson Woods/CORFAC International in Wilmington, DE, has developed a core expertise helping longtime owners of commercial property unwind their investments and presented “Alternative Disposition Strategies using Charitable Giving.”
Sandy Shindleman, CCIM, FRICS, SIOR with Shindico/CORFAC International in Winnipeg presented on “How to Succeed in Business.” Sandy’s story was about how he and his brother started from modest beginnings and built their careers to the point that they are not only one of the more successful brokerage businesses in central Canada, but they have built a portfolio of about 8 million square feet of commercial retail and office properties that they own and operate in their market.
International Committee update: CORFAC welcomed a new affiliate from France (BG Carré/CORFAC International) while the approximate 100 attendees also heard about market conditions in Mexico, Colombia and London from existing affiliates. Miguel Cavazos, CCIM, SIOR, from Mexico (Citius Capital/CORFAC International), said that more than half of his firm’s business is now is coming from Japan.
Guest Speaker Rob Richter from South Florida-based Flagler Global Logistics presented the colorful history of Henry Flagler’s railroad construction and hotel development activities that essentially “opened” Florida to the East Coast over 100 years ago. Richter also discussed the company’s expansion and future growth plans in Panama and select markets in Latin America. Flagler is a wholly owned subsidiary of Florida East Coast Industries Inc., which in turn is owned by Fortress Investment Group (NYSE: FIG).
At the awards function on Friday night, brothers Mason and Jason Capitani were recognized for their firm’s 50th anniversary (L. Mason Capitani/CORFAC International, based in Troy, MI), as was Mike Boyd, principal and founder of the Houston, TX firm, Boyd Commercial/CORFAC International. Boyd won the Texas Association of REALTORS® William C. Jennings Award for the Most Outstanding Real Estate Transaction in Texas in 2014 for a deal he did representing The Detering Company in a corporate headquarters relocation and expansion. In addition, Steve Podolsky, SIOR, of PodolskyICircle /CORFAC International in Chicago will be honored for his longtime leadership involvement and named a Director for Life of the Jewish Council for Youth Services organization on May 16, 2015.
2014 CORFAC “COR$TARS” Referral Awards
Top Industrial Award (by dollar volume)
Largest Industrial Award (by size)
Top Office Award (by size and dollar value)
Top Retail Award (by size and dollar volume)
Top Referring Broker
Top Referring Firm
About CORFAC International
In association with global affiliates, CORFAC International offers commercial real estate services with market reach in 48 countries worldwide. Founded in 1989, CORFAC firms completed more than 10,000 lease and sales transactions totaling approximately 400 million square feet of space valued in excess of $7.4 billion in 2014. For more information on the CORFAC network, call 224.257.4400 or visit www.corfac.com.
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