March 10, 2012

Thomas Sittema, CEO of CNL Financial Group, and Vincent Signorello, president of Flagler, commented on real estate values at the Akerman U.S. Real Estate Summit 2012 in Miami, Florida. Their quotes appeared in the article, "Developer Says S. Fla. Land Is Still Overpriced," in The Miami Herald.

Sittema indicated that, "Real estate values are rebounding in gateway cities like New York, Los Angeles, and even Miami, but suburban markets nationwide are experiencing a far different scenario."

Signorello is quoted as saying, "If you don't have capital lined up for the next few years, it's going to be tough."

Armando Codina, chairman & CEO, Codina Partners, LLC, who also was a speaker at the conference, was referenced in the same article.

"Armando Codina told the group he's finding few opportunities in South Florida, where land remains overpriced. Codina's most recent acquisitions have come in Texas, where the regulatory and legal systems are more favorable to business."