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 Gebroe-Hammer Associates Download Word Doc: Click Here Release Date: February 13, 2008 GEBROE-HAMMER ASSOCIATES BROKERS $16.3 MILLION TRADE OF PINEHURST PARK IN ORLANDO, FLA. LIVINGSTON, N.J., February 13, 2008 – Gebroe-Hammer Associates of Livingston, N.J., and Lucky Commercial Realty, Inc. of Miami, Fla., co-brokered the $16.3 million sale of Pinehurst Park, a 296-unit garden apartment complex in Orlando, Fla. Senior Vice President Joseph Brecher completed the transaction on behalf of the seller. A retiring New Jersey-based investor, the seller was a long-term Gebroe-Hammer client who is disposing of his remaining properties in the region. Bank of America, one of the nation’s largest financial institutions, purchased the property. Located at the busy intersection of Texas Road and Oak Ridge Road in Orlando’s Millenia section, Pinehurst Park is only a short distance from Interstate 4, the region’s most significant highway. Bus service is available near the property. The property sits on the north shore of Lake Ellenor and features 296 studio, one-, two- and three-bedroom apartments. The complex has undergone extensive upgrades in the past few years, elevating it from a B-minus class property to A-minus classification. Bank of America plans to continue the redevelopment process in order to more fully take advantage of the lakefront location. “This is a standout deal,” said Brecher. “Properties with this much potential in such a prime location sell at a premium.” John Dumont, Esq. of Dumont and Watson from Princeton, N.J., represented the seller. Leigh Fletcher of Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. of Tampa, Fla. represented Bank of America. “We have a long relationship with the seller, having sold his properties in New Jersey,” said Ken Uranowitz, managing director of Gebroe-Hammer. “Because of our prior sales successes and his confidence in our expertise, he selected us to market Pinehurst Park over other national brokers. The transaction only took us about 60 days from the initial listing to the closing of title.” ### Gebroe-Hammer Associates 
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