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<br />MEMBER news
<br />EBERHARDT NAMED LEASING AGENT
<br />FOR BROOKDALE CORPORATE CENTER
<br />Eberhardt Co., Minneapolis -based realtors' mortgage banking
<br />and property management/ leasing firm, has been named
<br />leasing agent for the first phase of the Brookdale Corporate
<br />Center office complex. Located in the Earle Brown Farm in
<br />.Brook Cen
<br />o ffice building g with 117,000 feet. The total complex
<br />office
<br />will eventually encompass some 17 acres of the former farm,
<br />officials noted.
<br />Mike Hughes, Jr., vice president of Eberhardt, will lead the
<br />Eberhardt leasing group in securing tenants for the new
<br />facility, which will be ready for occupancy early in 1982.
<br />STEINBERG FINANCIAL CLOSES SALE..
<br />ANNOUNCES NEW AFFILIATION
<br />The Steinberg Financial Corporation has completed negotia-
<br />tions and has closed the sale of seven office/ warehouse build-
<br />ings totaling 400,000 square feet in the communities of
<br />Eden Prairie, Golden Valley, Maplewood, Edina and St.
<br />( Louis Park. The buildings were purchased by the Prudential
<br />Insurance Company of America for PRISA, Prudential's
<br />commingled pension fund account for $14,500,000_
<br />.r .
<br />BURGESS NAMED
<br />AT NORTHLAND
<br />Michael C. Burgess has
<br />been appointed sales
<br />and leasing specialist for
<br />Northland Development
<br />Company, as announced
<br />recently by James C.
<br />Stuebner, president of
<br />the Brooklyn Park firm.
<br />Burgess was previously
<br />a leasing representative
<br />for the Twin City Fe-
<br />deral office building
<br />and other area com-
<br />mercial buildings.
<br />Before joining owle
<br />g �
<br />Co. in 1979, Burgess ( 4 ! ^ t >
<br />held the positions of f `= -' - �" =•�'�'
<br />property manager and - u Michael C. Burped
<br />leasing representative
<br />for Charles F. Hall and Associates, and was plant manager
<br />for Early Bird Granola, Inc. of Boulder, Colorado. A native
<br />of Faribault, Minnesota, Burgess is a graduate of Faribault
<br />High School and attended St. Cloud University. He resides
<br />with his wife, Karen, in St. Louis Park.
<br />STRACHOTA AWARDED MAI DESIGNATION
<br />Robert Strachota, partner in Shenehon & Associates, Inc. of
<br />Minneapolis' awarded the MAI designation and member-
<br />s hip in the American Institute of Real Estate Apop�U at
<br />at the meeting
<br />», . • group's Governing Council
<br />w s in Chicago on May 4,1981.
<br />Membership in the group
<br />requires stringent standards
<br />be met, including years
<br />of practical experience, ex-
<br />tensive written tests, and
<br />the submission of numer.
<br />ous appraisal reports which
<br />demonstrate one's ability
<br />to render competent ser-
<br />vice to clients.
<br />The properties were sold subject exis
<br />lace on mort
<br />pril 0,
<br />f took P
<br />fi closing on six of the buildings
<br />1981, with the seventh building to close in January 1982.
<br />Benjamin Steinberg, president of Steinberg Financial, nego-
<br />' tiated the sale of behalf of the seller, with Marion Freed
<br />and Paul Johnson representing Prudential in the transaction.
<br />In other news, Mr. Steinberg also announced the for iof
<br />of an affiliated company, Real Estate Capital Corpo
<br />which he is president. Stanley M. Taube and Sherman Devitt
<br />of Lanvesco Corporation are also officers. The company will
<br />purchase real properties, syndicate investment inte rests, terest on
<br />manage both the properties and the partnership
<br />behalf of various investors.
<br />Real Estate Capital has purchased the Lakebridge West
<br />Apartments, a 15 - syndication of S800e000
<br />now completed equity
<br />the syndication
<br />with 16 investors.
<br />The company has also completed the purchase of the Data -
<br />form office/ warehouse building on Cahill Road in the Edina
<br />Interchange Center, and is currently syndicating the equity
<br />interest in that building.
<br />Real Estate Capital expects to have a significant real estate
<br />portfolio by the end of 1981. Ben has' g incom
<br />the company will not only be p
<br />properties, but by 1982 it expects to be in a position to pro-
<br />aae e.nuity funds for new development as well.
<br />Before joining Shenehon
<br />as a partner in 1980,
<br />Strachota was a real estate
<br />Robert J. Stracho appraisal manager for Pat -
<br />chin Appraisals, Inc. of Minneapolis, and was a staff appraiser
<br />at Shenehon from 1975 -78. He has a B.A. degree in Finance
<br />from the College of St. Thomas and it Master of Business
<br />degree from the University of Minnesota. Strachota is also a
<br />member of the Minnesota Industrial Development Associa-
<br />tion and the Mortgage Banker's Association.
<br />NEWSLETTER COMMITTEE
<br />Chairman
<br />HARRY YAFFE
<br />Cindy Sirotkin Stan Johannes
<br />Norm Herbst Jim Kramer
<br />
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