GEORGETOWN COMMUNITY SITE SOLD FOR $800,000

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Ft. Lauderdale, FL – August 9, 2011 – (RealEstateRama) — CB Richard Ellis (CBRE) arranged the sale disposition of a 27-acre Georgetown Community site for $800,000 to Arch, LLC. The bank-owned asset comprised six fee-simple completed units and 118 finished fee-simple lots with entitlements and infrastructure. The site is situated on the southern part of the 320-unit Georgetown Community partially developed by Centerline Homes in 2005.

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CBRE

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.

Contact:

Robert W. McGrath
Senior Director, Corporate Communications

+1 212 9846515
+1 800 7996523 FREE

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