Prominent Real Estate Broker Joins Bulk Panel Discussion

Nov. 29, 2010 - PRLog -- As reports surface about the depletion of new bulk condo product in South Florida, a chief executive with one of the most prominent local real estate brokerages has agreed to participate as a panelist in the upcoming Condo Vultures® seminar, "Condo Conversions - The Next Wave For Bulk Buyers" to be held Dec. 14 at the Miami Marriott Biscayne Bay Hotel.

Mark Pordes, CEO of Pordes Residential in Aventura brokered the recent $160 million note purchase of Related Group's Trump Hollywood tower for Miami-based BH III. Pordes also brokered another high-profile deal this year - the sale of 2700 North Ocean for $120 million, according to the South Florida Business Journal.

Pordes and two additional panelists will discuss current challenges and opportunities for bulk buyers and sellers in the South Florida real estate market.

Pordes' notable collaborations include Turnberry Ltd., where he served for the past ten years as VP of Sales for Florida and the Bahamas. He has also joined forces in the past with The Trump Group, CMC Developers and Terremark.

As major bulk condo purchases in South Florida wind down, the next big wave is expected to be condo conversions.

November saw the last three major bulk purchases of condos in the tricounty South Florida area, according to Frank Thomas, Condo Vultures® Realty National Bulk Sales Director.

With the note purchase of Trump Hollywood, and purchases of Everglades On The Bay's remaining 677 units and CityPlace South Tower’s remaining 420 units, the era of new large bulk tower complexes officially came to an end, Thomas wrote in a recent CondoVulture.com report

"With funds and private equity groups still hungry for product, the next big wave will likely be condo conversions. As these buyers look for investment opportunities with good upside potential and tonnage, there’s almost no place else to turn."

A trio of experts will discuss the new frontier of bulk product in the panel discussion moderated by Condo Vultures® founder Peter Zalewski.

The program starts at 6.30 p.m.

Contact executive editor John Fakler at 800-750-0517 for more information.

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Condo Vultures® LLC is a Bal Harbour, Fla.-based consultancy and publishing company focused on collecting, analyzing, and communicating intelligence on the South Florida real estate market.