NAI Bahamas Realty Commercial negotiates major lease of New Corporate Center.

Ground Breaking at Caves Corporate Center. L-R: Larry Roberts, Consultant/Director, Bahamas Realty; Toby Hayes, Development Mana

NASSAU, BAHAMAS – August 7, 2019 – NAI Bahamas Realty Commercial, the commercial division of Bahamas Realty and a member of the world’s premier managed network of commercial real estate firms, announced today a lease at the new Caves Corporate Center making Ernst & Young (EY), the anchor tenant of the western 25,000 square foot office building

Caves Corporate Center is currently under construction by Mosko United Construction Company Limited on the corner of West Bay Street and Blake Road. Only the 7,000 sq. ft. ground floor remains available for rent, represented by NAI Bahamas Realty Commercial.

“We’re pleased to have had a hand in helping EY find a new location for their offices in the fast-growing Western district of New Providence,” said Donald Martinborough, CEO of NAI Bahamas Realty Commercial. “This is a great location for this prestigious firm.”

The office is one of two buildings being built next to Caves Village which houses numerous restaurants, shops, a fitness centre, childcare facilities, businesses and banking facilities. In addition to the many residential developments nearby, including the Caves Point and Caves Heights residences, Blake Road has seen an increase in commercial office development and has become the hub of medical services in the west.

“This lease is the latest of several recent major transactions we’ve represented in the Capital,” said Martinborough. “We’re seeing a trend of businesses seeking locations which suit their employee’s lifestyle and taking into consideration nearby amenities and services that appeal to their workforce when making the decision to move or expand. This trend mirrors what is happening globally and shows positive growth in the Bahamian business sector.”

Realtor Teams With RBC For Hot Summer Homes

A Bahamian realtor has partnered with Royal Bank of Canada (RBC) to launch a two-month promotion that pledges to deliver a 48-hour turnaround on buyer financing approvals.

Monica Knowles, property specialist with Bahamas Realty, explained that the tie-up with RBC’s BISX-listed mortgage arm, FINCO, was designed to stimulate market activity during the traditionally slower summer months by cutting down the time associated with real estate purchases.

“Summer is traditionally a slower time for both the local housing market and second home buyers,” Ms Knowles. “While summer is slower, the reality is that the offerings of new residential properties, especially condominiums, has never been greater so I wanted to find a way to incentivise those who were thinking of looking to start their search now rather than waiting.

The campaign, which is being launched under the tag-line, Hot Summer Homes, twice the power, half the time, will last for two months until August 31. By providing an online link to gain pre-approval, it reduces the time for processing applications through a pledged 48-hour or two business day turnaround on mortgage approval requests.

The initiative also offers up to 95 percent financing, competitive interest rates for local and foreign buyers, and financing for work permit holders. It is being marketed via an aggressive social media campaign, database mining and personal calls on developers.

“We have an unprecedented abundance of new residential offerings – condominiums, single family residences, vacation homes, investment properties,” said Ms Knowles. “New developments include Sterling Hurricane Hole’s exciting project, the super-luxury beachfront high-rise condos of the Residences of Goldwynn, One Cable Beach next to Baha Mar, and ONE Ocean and THIRTY SIX, both on Paradise Island.

“And that is just New Providence. Add in Family Islands and private islands, and I don’t think there has ever been a time when there was a greater supply of new and diverse offerings. We want to ensure interest remains high and that buyers are empowered with an experienced partnership that adds value, convenience and strengthens ownership potential.”

“As a trusted partner in the Bahamian community, RBC Royal Bank and our mortgage bank, FINCO, is committed to increasing the opportunity for home ownership,” said Ericka Rolle, RBC FINCO’s managing director.

“When we hear a solid idea that has merit and increases the opportunity for more people to enjoy ownership or to move up the property ladder, we are happy to partner. Monica put a lot of thought into this project and we are very pleased to lend our support.”


Leading real estate firm: East Bay Street Commercial Bounces Back, Hottest Property on Island

houseNASSAU, BAHAMAS – 05/20/2019 – Bahamas Realty’s commercial division, NAI Bahamas Realty Commercial, announced today that it has been selected to represent the sale of an iconic East Bay Street office complex.

The property located at 23 East Bay St., known as Bydand House, is a functional office complex in a high-traffic, secure location. The prospect represents an attractive investment opportunity with consistent occupancy rates and good tenants.

“In the last few years and, in particular, the last few months we have seen more activity and commercial interest in the eastern district, and the Montagu area in particular, than we had seen for quite a while,” said Bahamas Realty CEO Donnie Martinborough, whose company has had a stately presence in the historic Bahamian building for more than 40 years. “Even we at Bahamas Realty are caught up in the exciting changes with our own office building on the market to sell while Montagu is enjoying a resurgence in commercial development.”

“As both tenants of the building, as well as being the leading commercial real estate firm on the island, we are in a unique position to broker the sale of Bydand House.” Said Martinborough. “We are confident that we will find the right buyer.”

The 1.46 Acre property is situated in an established business district in the Eastern District of New Providence and includes 6,484 SF of office space in the main building with two additional income producing annex buildings and more than ample room for building expansion.

The Montagu area is experiencing a dramatic lift in development. A 100-plus-year-old home has been renovated, transforming it into the wildly popular Wild Thyme restaurant. Almost directly next door, Harbour Bay Shopping Centre, home to Starbucks and Fresh Market, has become a destination shopping plaza, with the parking lot often packed to capacity.

In December the former UBS building, purchased by government, became home to the Securities Commission of The Bahamas, the Compliance Commission and the Data Commissioner among others, giving East Bay St. the pleasure of enjoying a commercial rebound.

While all the activity has been on the south side of the street to date, a new restaurant at the Nassau Harbour Club that has been under construction and under wraps for more than two years is expected to open soon, and renovation is also underway at the currently-closed Waterloo nightclub on East Bay St.

“We have never lost faith in the strength of the east,” said Martinborough. “And with all of the recent activity in the area we recognise this as a great opportunity for investors or businesses looking to expand in a growing market.”


Realtors Partner With Yacht Chartering Firm

Two Bahamas Realty agents have teamed with a yacht charter firm to marry high-end real estate with luxury cruising through this nation's islands.

Elite Bahamas Team, formed by Ana Wassitsch and Silvina Andrews, has partnered with Island Yachts to fill the gap between land, sea and air for residents and visitors alike.

"During our property tours, Ana and I are often asked about the best ways to experience the islands of The Bahamas, and chartering a yacht is our immediate answer," said Mrs Andrews.

Their high-end clientele is interested in exploring the possibilities of island living, and Ms Wassitsch added: "Our clients want to fly to Andros for lunch, or sail to Exuma for sunset dinners. They want to invite their friends and family to swim with pigs, turtles and sharks; to see the iguanas; dive through Grottos; powerboat through creeks and walk on 'print-less' powder-sand beaches. They want to wake up, hop on and sail off."

The duo thus approached Peter Maury of Island Yachts with the idea to offer luxury charters as part of their portfolio. "We frequently have clients asking about real estate investment opportunities in The Bahamas as well as tax and residency advantages," Mr Maury said.

"They also inquire about private islands and the best options for a second or third vacation home. Answers to these questions require the expertise of a local real estate agent."

The services provided by both parties complement each other. Island Yachts has a fleet of yachts, powerboats, sports fishing vessels and a helicopter, covering a wide range of destinations and "experience" packages, while Bahamas Realty is a full-service residential and commercial real estate and appraisal company.

Both Ms Wassitsch and Mrs Andrews are Certified International Property Specialists (CIPS), and have the added benefit of speaking three languages between them, having lived in six different countries.

"We do the work together by successfully leveraging our individual strengths and specialties, and our new partnership further advances us with its added resources, people, ideas and solutions," said Mrs Andrews. "By working as a team we are able to ensure our clients get the attention they deserve 100 percent of the time. There is not a moment that our clients can't get in contact with us."


Realtor Fears Budget's Dampening Impacts

A Bahamian realtor fears the budget's tax changes will dampen interest in high-end real estate and have a lasting impact on the luxury second home market.

Monica Knowles, Bahamas Realty's top producer in 2016, who less than two years ago saw what she called "an exciting and encouraging renewed confidence in the Bahamian housing market", said she is now holding her breath while hoping that the government agrees to the Bahamas Real Estate Association's (BREA) transition requests.

Read the whole story on the Tribune news online.

Learn more about Monica

Bahamian Larry Roberts Awarded LeadingRE's Leadership Award

Larry Roberts, (R) & LeadingRE Chairman, Joe Horning

Larry Roberts, (R) & LeadingRE Chairman, Joe Horning

It took nearly five decades of hard work, a lifetime of achieving firsts and only a moment in time for the honour and hour of recognition when Larry Roberts was called to the stage to accept the Leading Real Estate Companies of The World prestigious Leadership Award, one of the highest international awards ever presented to a Bahamian real estate professional. Roberts received the Leading Real Estate Companies of the World (LeadingRE) Leadership Award at the organization’s annual conference at the Las Vegas Wynn earlier this month. Roberts, who spent almost 50 years at the helm of Bahamas Realty until he stepped down as President and CEO in October, becoming a consultant, was one of only two to receive the Leadership Award before an audience of 3,000 from 24 countries. He was also one of only four real estate professionals from outside the United States to be honoured in any category by his peers. “The Leadership Award, celebrating brokers whose leadership skills and achievements have drawn the attention and admiration of others, was presented to two deserving recipients this year, Larry Roberts, Bahamas Realty, Nassau, Bahamas, and Lennox Scott, John L. Scott Real Estate, Seattle, Washington,” said LeadingRE President Pam O’Connor, explaining that the awards “celebrated the achievements of those members who have performed at the very highest levels.”
Bahamas Realty CEO Donnie Martinborough said the company was “incredibly proud of Larry and could not find a more deserving candidate for such an honour.” He called Roberts’ achievements singular and impressive. “Long before the real estate industry in The Bahamas was regulated Larry saw the need for legislation that would regulate the industry, provide instruction for new entries, certify and licence those individuals and maintain standards of ethics as well as being a source for updates and a voice. He and his colleagues in the industry prevailed and in 1995 the Government of The Bahamas enacted the Real Estate Salesman & Licensing Act. Over the years, he would serve two separate terms as President of The Bahamas Rael Estate Association. He was equally committed to community service and served as President of the Rotary Club of South East Nassau. Rotary is the largest civic organization in The Bahamas. Martinborough recalled that Roberts was the first to computerize operations and to appreciate where the internet would take the industry, launching the industry’s first website in 1997.
“Larry always seemed to have an uncanny ability to see the future of business ahead of many of his peers, but gaining their support was not always a walk in the park. When Larry wanted The Bahamas to employ Multiple Listing Service (MLS), knowing it would help to even the playing field and make it easier for buyers and sellers, he met surprising resistance. Undaunted, he campaigned long and hard. And once again, Larry Roberts succeeded on behalf of the profession.” Real estate firms in The Bahamas adopted MLS in 2008. Bahamas Realty President Robin Brownrigg also spoke of the personal side of the industry pro. “Beyond all he did for the profession as a whole and beyond the gentlemanly way he conducted himself regardless of the size of the transaction, Larry Roberts was a one-on-one friend and advisor whose door was always open,” said Brownrigg, who has been his business partner for most of their working lives. “New recruits bombarded him with questions; senior agents and brokers sought his advice and he never hesitated to give of his time, knowledge and talent, even when serving on various civic boards including Safe Bahamas, The Princess Margaret Hospital Foundation, Nassau Tourism & Development Board and Downtown Nassau Partnership. He set an example for all around him.”

Bahamas Realty Ltd., which has been in operation since 1949, is an affiliate of the invitation-only network, Leading Real Estate Companies of the World® (LeadingRE), and Luxury Portfolio International®, the exclusive luxury marketing program of LeadingRE. It is also a member of NAI Global, the world’s largest network of independent commercial real estate brokerage firms.

LeadingRE Recognizes Top Performers With Annual Awards

Leading Real Estate Companies of the World® (LeadingRE) honored top-performing member firms and individuals earlier this month at the Wynn Las Vegas during its Annual Conference, the culmination of its Conference Week, which attracted an audience of 3,000 real estate professionals from 24 countries.

“Our Conference Week brings together professionals from the best residential real estate companies in the world to focus on global real estate trends and providing exceptional experiences to home buyers and sellers,” says Pam O’Connor, president and CEO of LeadingRE. “A highlight of the event is celebrating the achievements of those members who have performed at the very highest levels.”

The organization’s top honor, the Diamond Award, went to Allen Tate Company (Charlotte, N.C.) in recognition of outstanding performance and engagement in all of LeadingRE’s business programs. It is the eighth year Allen Tate Company has won the Diamond in the award’s 16-year history.

LeadingRE’s Lifetime Achievement Award, provided for just the third time in the network’s history, went to Larry Kendall of The Group Inc. Real Estate (Fort Collins, Colo.) for his impact on the personal and professional lives of the more than 50,000 real estate professionals who have adopted his Ninja Selling system.

The Leadership Award, celebrating brokers whose leadership skills and achievements have drawn the attention and admiration of others, was presented to two deserving recipients this year: Larry Roberts, Bahamas Realty Limited (Nassau, Bahamas) and Lennox Scott, John L. Scott Real Estate (Seattle, Wash.). The Customer Experience of the Year Award went to David Steele, Blanchard & Calhoun Real Estate (Augusta, Ga.), and the Referral of the Year was presented to Steve Wrenn, CRYE-LEIKE, Realtors of Atlanta, Inc. (Atlanta, Ga.) and Elaine Pardalos, Halstead Real Estate (New York, N.Y.).

Included in the top marketing awards were the Best Overall Website, presented to Chas Everitt International Property Group (Johannesburg, South Africa), and the Most Innovative Brokerage Award, given to London Properties, Ltd. (Fresno, Calif.). Most Innovative Office Design was presented to Haring Realty Inc. (Mansfield, Ohio) and PorchLight Real Estate Group (Denver, Colo.).

The Crown of Excellence referral awards were given in seven company size categories: Allen Tate Company (Charlotte, N.C.); Lyon Real Estate (Sacramento, Calif.); Beverly-Hanks & Associates (Asheville, N.C.); John Daugherty Realtors (Houston, Texas); Platinum Group, REALTORS (Colorado Springs, Colo.); Townsend Real Estate (Fayetteville, N.C.); and Tina Bilazarian, Inc., REALTORS (Shrewsbury, Mass.).

Earning the Million Dollar Award for Highest Valued Outgoing Closings was Houlihan Lawrence Real Estate (Rye Brook, N.Y.). The Global Alliance Award for Most Outgoing International Referral Closings was presented to The Keyes Company (Plantation, Fla.). Awarded for having the Top 5 Most Outgoing Closings, in order of volume, were: WEICHERT, REALTORS® (Morris Plains, N.J.); Long & Foster Real Estate Inc. (Chantilly, Va.); Howard Hanna Company (Pittsburgh, Pa.); Ebby Halliday Realtors (Dallas, Texas); and Allen Tate Company (Charlotte, N.C.).

Recognized with the Pinnacle Award for having the most outgoing revenue-generating referrals were: Long & Foster Real Estate Inc. (Chantilly, Va.); Lyon Real Estate (Sacramento, Calif.); Realty Austin (Austin, Texas); John Daugherty Realtors (Houston, Texas); WK Real Estate (Boulder, Colo.); Marx-Bensdorf Realtors (Memphis, Tenn.); and Farrell Smyth, Inc. (San Luis Obispo, Calif.).

The Service Recognition Award was presented to individuals who have demonstrated an extraordinary level of commitment to the LeadingRE community in a variety of areas. The top individual honor, the Hall of Fame Award, was presented to Eileen Cherny, Marx-Bensdorf Realtors (Memphis, Tenn.) and Catharine Pappas, Dickens Mitchener (Charlotte, N.C.). Presented with the Chairman’s Award were Mark Bardo, The Keyes Company (Plantation, Fla.) and Vicki Hamp, Long & Foster Real Estate Inc. (Chantilly, Va.).

Earning the President’s Service Award were Andrea Bowles, Blanchard & Calhoun Real Estate (Augusta, Ga.); Berry Everitt, Chas Everitt International Property Group (Johannesburg, South Africa); Tom Flanagan, The Group Inc. Real Estate (Fort Collins, Colo.); Michael Guthrie, Roy Wheeler Realty Co. (Charlottesville, Va.); Jeremy Hurst, IRG- International Realty Group Ltd. (George Town, Cayman Islands); Matthew Leone, Halstead Real Estate/Brown Harris Stevens (New York, N.Y.); Silvana Malpelli, Brown Harris Stevens (New York, N.Y.); Frank Morrice, Servmor Realty (Panama City, Panama); Kimberly Mullins, HUFF Realty (Cincinnati, Ohio); Ueli Schnorf, WETAG Consulting (Locarno, Switzerland); Pat Shea, Lyon Real Estate (Sacramento, Calif.); Andrew Smith, Peabody & Smith Realty, Inc. (Franconia, N.H.); Tammy Vlah, Watson Realty Corp. (Jacksonville, Fla.); and Merle Whitehead, Howard Hanna Company (New York Region).

LeadingRE’s next event is the 2018 ASEAN Immersion Conference, taking place May 8-10 in Kuala Lumpur, Malaysia.

Bahamas Realty Vice President, CEO Larry Roberts Steps Down, Donnie Martinborough Named CEO

Bahamas Realty announced today that W. Larry Roberts, a two-term president of the Bahamas Real Estate Association and visionary leader who pioneered many of the firsts in the real estate industry, has stepped down as Vice President and CEO after a career that spanned nearly half a century. Mr. Roberts will remain a director and consultant with the company founded by his father in 1949.

Mr. Donald ‘Donnie’ Martinborough, who has managed the growing commercial division of the prominent firm for 30 years, has been named CEO.

The announcements were made by Bahamas Realty President Robin Brownrigg.

“No one could have served the real estate industry with more integrity and dignity than Larry Roberts,” said Mr. Brownrigg. “He was the first to recognize the power of the internet, the partner who ensured that we would be the first to have a website, the first to computerize all our office systems and listings and a strong and powerful proponent of the Multiple Listing Service which is now an essential part of how the industry functions. We are pleased that Larry will enjoy more well-deserved leisure time with his wife and soulmate Liz and very pleased that he has agreed to remain a director and active consultant.”

According to Mr. Brownrigg, the appointment of Donnie Martinborough allowed for a seamless transition and fulfilled a well-conceived succession plan.

“Bahamas Realty, having established itself as a leader in the Bahamas real-estate industry, is now at an exciting threshold as younger stars are rising to take over the leadership of the company,” said Mr. Brownrigg. “It brings me tremendous pride to announce that Donald Martinborough is now assuming leadership as CEO. He brings fierce determination, loyalty and trust, and gives us enormous confidence that our future will remain very bright. Donnie’s energized, competitive and focused spirit, coupled with his wealth of expertise in the commercial management department, have proved invaluable to the success of this business. We all wish him the very best in his new role of leadership.”

Mr. Martinborough has headed up the commercial division for three decades and today as Managing Director of NAI Bahamas Realty Commercial handles more than one million square feet of rental space.

“Donnie has continually grown the commercial side of the business while maintaining valuable personal relationships with owners, tenants, vendors and suppliers. Balancing all of that and doing it well has prepared him for performing well at the helm of this company with its spectrum of services and diverse range of residential, resort and commercial clientele.”

Martinborough, who began at Bahamas Realty immediately after high school, is an internationally recognized Sunfish sailing star, having won the Sunfish World Championship three times and holding the record for the most wins in the 20th Century in the Sunfish class in Bermuda Race Week, a record that can never be challenged.

The challenge he faces now, he says, is a demanding one.

“It has been such an honour and a pleasure to work alongside Larry Roberts all these years,” said Mr. Martinborough. “He has done such a great job managing and successfully leading this firm even while he was serving in other roles whether as president of BREA, or addressing international meetings in Rome or serving as President of the Rotary Club of Southeast Nassau or on one of the many civic boards – Safe Bahamas, Nassau Tourism & Development Board, Downtown Nassau Partnership, Princess Margaret Foundation – he was appointed to. These are mighty big shoes to fill and I am proud and humbled by the level of confidence my partners have expressed in me by appointing me the new CEO of Bahamas Realty.” Mr. Martinborough’s appointment is effective immediately.

-- Photo: Donald ‘Donnie’ Martinborough, centre, is named CEO of Bahamas Realty as W. Larry Roberts, 2nd from right, steps down as Vice President and CEO after a career that spanned nearly half a century. Roberts remains a consultant and director in the firm founded by his father in 1949. Martinborough, a partner, has grown the commercial division over 30 years with the company and is Managing Director of NAI Bahamas Realty Commercial with more than one million square feet of office and commercial space under management. (Photo by Iona Henderson)

Link: http://

Bahamas Realty Welcomes Seasoned Agent Mark Moyle

NASSAU, BAHAMAS – October 12, 2017 – Bahamas Realty Ltd., one of the largest and most respected real estate companies in The Bahamas, announced today that seasoned Sales Associate, Mark Moyle, has joined their growing family of real estate professionals.

“We are delighted to welcome Mark Moyle to Bahamas Realty,” said CEO Larry Roberts. “The improving economy and outlook for the real estate market continue to create new opportunities for our clients and Mark adds an exciting dimension of experience connections to our business.”

Mark Moyle has an impressive background in real estate as well as project management. He brings to the team a unique understanding of quality construction for residential and commercial properties, and experience working with clients in the high-end real estate market of Harbour Island.

“I’m thrilled to join the team at Bahamas Realty,” said Moyle. “They are a fantastic group known for their passion and integrity in the business, principles which are very much in line with my own.”

Transitioning to full-time real estate in 2015, Mark becomes the third generation of realtors on his mother’s side of the family. Mark has been involved in many successful purchases, transactions and developments throughout Nassau and the Family Islands.

About Bahamas Realty

Bahamas Realty Ltd., which has operation since 1949, is an affiliate of the invitation-only network, Leading Real Estate Companies of the World® (LeadingRE), and Luxury Portfolio International®, the exclusive luxury marketing program of Leading RE. It is also a member of NAI Global, the world’s largest network of independent commercial real estate brokerage firms.

Property Sales increase Despite Soft Economy

NASSAU, BAHAMAS – March 28, 2017 – Bahamas Realty Ltd. announced today that the firm realized a gross sales increase of nearly 60% in real estate sales, and an almost 80% increase in gross commissions in 2016 over the same period in 2015, despite a soft economy.

“We are delighted to see that sales increased so significantly this past year,” said CEO Larry Roberts. “While the economy has been slow to improve, this tells us that there is still demand for housing and commercial property in the Bahamas.” However, with an increase in inventory, today’s savvy buyer is more discerning. “What we are seeing is that building a relationship of trust is key to consumer confidence. Expertise and top notch service are our hallmark, and our team goes above and beyond to truly take the time to understand our client’s needs,” explained Roberts. The real estate market continues to shift, and with it Bahamas Realty continues to create new opportunities for its clients.

“Our job as a brokerage firm is to ensure that our agents are given the marketing tools, office support and education they need to stay current with market conditions,” said Roberts. “We provide a host of educational opportunities through leading edge online educational courses and support for industry designations and global conferences,” said Roberts.

Bahamas Realty has remained on the cutting edge of technology, investing in tools that help clients feel connected to every aspect of the transaction. Recently the company announced that they had begun offering 3D video tours which allow buyers to “walk” through a space in virtual reality even before they have an opportunity to see the property in person.

“Bahamas Realty is known for its great reputation and high standards of integrity,” said Roberts. What that means for today’s real estate buyer is transparency in the process, communication and above average service. Roberts ads, “This year has shown us that we are on the right path, and we are grateful to our whole team and to our valued clients.” About Bahamas Realty

Bahamas Realty, established in 1949, is one of the largest and most respected real estate companies in the Bahamas, and a member of the prestigious invitation-only Leading Real Estate Companies of The World (LeadingRE) and its luxury arm, Luxury Portfolio International. LeadingRE represents the largest worldwide collection of independent brokers, with over 550 brokerages in more than 60 countries. Bahamas Realty’s commercial division, NAI Bahamas Realty Commercial, is an exclusive member of NAI Global, the world’s largest, most powerful network of local market-leading commercial real estate firms.

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