Arvida Realty Services, a Business Unit of The St. Joe Company - NYSE:JOE -, Forms Real Estate Alliance with Colombian Broker, Fonnegra Gerlein & Compania Limitada of Bogota.Business Editors/Real Estate Writers CLEARWATER Clearwater, city, United States Clearwater, residential and resort city (1990 pop. 98,784), seat of Pinellas co., W central Fla., on the Pinellas peninsula, between Clearwater Bay and the Gulf of Mexico; inc. 1891. , Fla.--(BUSINESS WIRE)--Feb. 21, 2000 Arvida Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Services, a business unit of The St. Joe Company The St. Joe Company (NYSE: JOE)is a land development company and Florida's largest private landowner, owning about 805,000 acres (0 km) in the state [1]. (NYSE NYSE See: New York Stock Exchange :JOE), announced today that it has formed a real estate alliance with Fonnegra Gerlein & Cia., a well established brokerage company in Santa Fe Santa Fe, city, Argentina Santa Fe, city (1991 pop. 341,000), capital of Santa Fe prov., NE Argentina, a river port near the Paraná, with which it is connected by canal. de Bogota, to further its residential, and commercial business interests between Florida and Colombia. Fonnegra Gerlein & Cia, which is a family owned and operated business, has been in the real estate sales business since 1971. Headquartered in the World Trade Center area in the heart of the financial district, the company specializes in residential, commercial and industrial sales and leasing. It is ranked as one of the top real estate companies in the country and has received several distinctions over the years. Fonnegra Gerlein & Cia. has been providing real estate services to the American Embassy in Bogota, Colombia for the last three years and is backed by the biggest and most respected real estate insurance company in the country, Seguros El Libertador. "This alliance strengthens our ties with Colombia and will help us increase the flow of business between Arvida Realty Services and Bogota," said Richard W. Cope, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "The Fonnegra Gerlein name is well recognized as a quality brokerage firm with a long-standing history of representing the finest real estate products and services. We couldn't ask for a better partner in Colombia's capital." "We are very pleased with our new relationship with Arvida Realty Services. Our philosophies are very similar in that we both place a great deal of emphasis on honesty Honesty See also Righteousness, Virtuousness. Alethia ancient Greek personification of truth. [Gk. Myth.: Zimmerman, 18] Better Business Bureau nationwide system of organizations investigating dishonest business practices. [Am. and integrity in representing our clients," said Carlos Fonnegra, Founder and CEO. "With so much real estate investment interest in both Colombia and Florida, our company decided to expand its international activity through strategic alliances. Because of Arvida Realty Services' dominance in Florida, it is the ideal affiliation for us. We also will now have access to Arvida Realty Services' extensive regional, national and international networks, as well as asset management and commercial investment expertise," he added. Headquartered in Clearwater, Arvida Realty Services is the state's largest independent real estate brokerage and the 5th largest in the nation with more than 95 offices located throughout the state and 3,000 licensed sales professionals and 700 employees affiliated with the company. It offers residential and commercial real estate sales, relocation services Relocation services or "employee relocation" includes a range of internal business processes that are engaged to transfer employees (and often their families) or entire departments of a business to a new work location. , asset and property management, title and mortgage services, annual and seasonal rentals, resort management and international real estate marketing. The company generated $6.5 billion in sales in 1999. The St. Joe Company, a publicly held company based in Jacksonville, is Florida's largest real estate companies. It is engaged in community, commercial, industrial, hospitality, leisure and resort development, along with residential and commercial real estate services. The company also has significant interests in timber. For more information about Arvida Realty Services, see the company's web site at www.ArvidaRealty.com. More information about St. Joe can be found at the St. Joe web site, www.joe.com. The above discussion contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27A of the Securities Act of 1933, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. , and Section 21E of the Exchange Act of 1934, as amended. Such statements are based on current expectations and are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize ma·te·ri·al·ize v. ma·te·ri·al·ized, ma·te·ri·al·iz·ing, ma·te·ri·al·iz·es v.tr. 1. To cause to become real or actual: By building the house, we materialized a dream. or should the underlying assumptions prove incorrect, the company's actual performance may differ materially from that indicated or suggested by any forward-looking statement contained herein. "Arvida" is a registered trademark. "Arvida, a St. Joe Company" and the "taking flight" logo are service marks of The St. Joe Company |
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