Premier Sotheby’s Acquires Stock Realty Division

Plus: Another top acquisition and important financial and event dates.



Need to catch up on business news in Southwest Florida? No problem. Here are the top stories of the week pulled from our daily newsletter, Gulfshore Business Daily

Friday, May 18

Premier Sotheby’s Acquires Stock Realty Division

Premier Sotheby’s International Realty has acquired the assets of Stock Realty’s Resale and Rental division at its location in Stock Plaza at Lely Resort and will serve both residential real estate and rental customers in the area. With this acquisition, the former Stock Realty Resale & Rental office, located in Naples, will now operate under the banner of Premier Sotheby’s International Realty. David Gape will serve as managing broker of the new office, in addition to his current leadership of Premier Sotheby’s International Realty’s Marco Island office. The 21 real estate agents formerly affiliated with Stock Realty were invited to affiliate with Premier Sotheby’s International Realty and remain with the newly acquired office.

Thursday, May 17

Tax Collector Sets Date for Annual Certificate Sale

The 2018 Tax Certificate Sale of properties with unpaid real property taxes will take place from 8 a.m. to 4 p.m. on May 22 online at leefl.realtaxlien.com. Tax certificates bear interest of as much as 18 percent per year. They represent liens for delinquent taxes, interest and charges associated with each property involved in the auction. Tax certificate holders pay the delinquent taxes to the county in exchange for the chance to reap the interest. The sale is conducted auction-style, with each certificate going to the bidder willing to accept the lowest interest rate. The bidding starts at 18 percent per year and progresses downward in 0.25 percent increments. Buying a certificate isn’t the same as buying the property, but beginning April 1, 2020, anyone holding a certificate issued in this year’s sale can apply for a tax deed to sell the land. That right expires along with the certificate on April 1, 2025. Any certificate that isn’t bid on will be issued to the county and available for purchase from the tax collector. The cost to purchase a county-held certificate is face value plus interest and a $6.25 processing fee. Visit leetc.com for more information and to view county-held certificates once they become available after the May 22 auction. Registration closes at 5 p.m. Friday.

Wednesday, May 16

ULI Florida Summit Coming in June

The annual Urban Land Institute Florida Summit will begin at 1:30 p.m. on June 7, with the final session concluding at 1:30 p.m. on June 8, at The Ritz-Carlton, Naples. The summit connects more than 500 of the top real estate professionals from throughout the state, including developers, attorneys, engineers, architects and land-use planners. From keynote addresses to conference sessions, the summit will focus on today’s changing markets, trends and opportunities. It is hosted by the five district councils of Florida. General session speakers include John Avlon, The Daily Beast; Margaret Hoover, CNN political contributor; Billy Grayson, ULI Center for Sustainability and Economic Performance; Jeff Korzenik, Fifth Third Investment Management; John Macomber, Harvard Business School; David Martin, Terra Group; Leroy Moore, Tampa Housing Authority; Dr. Gil Penalosa, 8 80 Cities; and Penny Taylor, Collier County commissioner. Cost to attend ranges from $125 to $695. For more information or to register by June 1, visit florida.uli.org or call (800) 321-5011. After June 1, onsite registrations will be accepted with an additional $50 charge.

Tuesday, May 15

Hoffmann Family Buys NT&T

The Hoffmann family has announced the acquisition of Naples Transportation & Tours. The purchase of NT&T expands the Hoffmanns’ investment in Naples businesses, now grown to more than $400 million in commercial real estate and business ownership. NT&T manages a fleet of more than 100 vehicles including luxury limousines, stretch SUVs, buses and party buses, Segways, and classically-styled trolley cars. To enhance NT&T’s capacity and service, the Hoffmanns plan to build a new company headquarters on an 11-acre parcel in Naples. In addition to the NT&T acquisition, the Hoffmanns, through their private family office Osprey Capital LLC, recently acquired Sunmaster of Naples, Adelheidi’s Organic Sweets, Naples Princess Cruises and The Bevy restaurant. The Hoffmanns are the largest owner of commercial real estate in Naples, with a majority of its 27 properties concentrated on Fifth Avenue and Third Avenue South.

RELATED: Hoffmann Family Buys The Bevy

RELATED: Revitalizing Downtown Naples

Monday, May 14

Deadline Approaching for SBA Working Capital Loans Following Irma

The filing deadline for federal economic injury disaster loans in Florida as a result of Hurricane Irma on Sept. 9-12, 2017, is June 13. This disaster declaration includes Florida counties including Charlotte, Collier, Glades, Hendry and Lee. Under this declaration, the U.S. Small Business Administration’s (SBA) Economic Injury Disaster Loan program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster. With the exception of aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers, or ranchers. The loans are for working capital and can be up to $2 million with interest rates of 3.305 percent for eligible small businesses and 2.5 percent for nonprofit organizations, and terms up to 30 years. Applicants may apply at Disasterloan.sba.gov. Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at (800) 659-2955 or (800) 877-8339 for the deaf and hard-of-hearing, or by sending an email to: disastercustomerservice@sba.gov. Loan applications can be downloaded at www.sba.gov. Completed applications should be mailed to:  U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

In other news...

Gulfshore Business is celebrating its 2018 Lifetime Achievement Award winners, Dr. Allen Weiss, president and CEO of NCH Healthcare System; and Gail Markham, stockholder and president of Markham Norton Mosteller Wright & Co., with a luncheon on May 24. Details here.

Don’t wait until the end of the week to find out what’s happening in Southwest Florida. Sign up for our free daily newsletter, Gulfshore Business Daily, to stay connected.