Miami Real Estate is Back: ST Residential Launches South Florida Portfolio at Exclusive Event

MIAMI, FL – February 7, 2011 – (RealEstateRama) — ST Residential, a world-class asset management company with a $4.5 billion real estate portfolio nationwide, launched its South Florida portfolio at an exclusive event sponsored by Ocean Drive Magazine. The event was held at one of their luxury properties, Mint at Riverfront.

The 730 guests gathered to celebrate the official launch on Mint’s pool deck and enjoyed cocktails courtesy of GREY GOOSE® Vodka. To kick off the celebration, the night began with three red-caped entertainers repelling 16 floors down to the pool deck, who joined belly dancers to entertain the crowd.  The spectacle was followed by a surprise performance from multi Grammy Award winner Jorge Villamizar of Bacilos.

“The ST event was a success and represents a turning point in the Miami real estate market,” said Wade Hundley, CEO. “We wanted to officially introduce ST Residential to South Florida, our largest market nationwide, with a memorable night symbolic of our company’s strength.”

ST Residential’s South Florida portfolio includes a mix of six owned or financed condominium communities, each with its own unique offering, totaling 23% of the total inventory in the region. The portfolio of high-end condo communities includes: Tao, a luxury high-rise in suburban Sunrise; Infinity (loan), active living in the heart of Brickell; Artech (loan), where design meets luxury in Aventura; Mint (loan), high-end residences in Downtown Miami; Paramount Bay (loan; coming soon); and Jade Ocean (loan).

“ST Residential is excited to bring a new way of thinking to real estate,” said Victor Ballestas, Regional Managing Director. “We look forward to bringing confidence to the South Florida market and to be such a big part of its rebound.”

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About ST Residential
ST Residential leads a public-private partnership between the FDIC and a consortium of esteemed private-equity investors that manages Corus Bank N.A.’s nationwide condominium-construction project portfolio. Other members of the consortium include Starwood Capital, TPG, Perry Capital and WLR LeFrak. By managing its portfolio with an unmatched level of detail and tailoring projects to the communities they serve, the company strives to be the standard bearer for luxury condominium projects. For more information, visit www.stresidential.com.