Binswanger Appoints New Managing Director

PHILADELPHIA, PA--(Marketwire - February 19, 2010) - Binswanger proudly announces the appointment of Jonathan D. Stern as Managing Director. Drawing on Binswanger's renowned international reputation as an industry-leading, cross-border service provider, Mr. Stern will work to develop new business opportunities with major corporations, and identify opportunities related to distressed assets in the United States. He will operate out of the company's New York City office.

A seasoned professional respected throughout the world of commercial and residential real estate finance and development, Mr. Stern's formidable, 20-year career includes involvement in all aspects of the commercial/residential real estate industry, including project management, project design and implementation, law, finance, construction and marketing/sales.

Mr. Stern's illustrious career began at Leggatt McCall & Werner in Boston, MA in their commercial finance division after graduating from Harvard College in 1979. Through his affiliated construction company, he built projects for third party developers, and was responsible for developing projects from land acquisition forward. He also acquired existing large-scale developments in the United States and abroad. In 1990, he founded Firehole Entertainment Corporation, which he later sold to Ogden Corporation, a New York Stock Exchange conglomerate, where he remained an executive officer responsible for the expansion of Ogden's real estate/entertainment-related activities. In 2000, he co-founded and co-managed Flag Luxury Properties, LLC, a company focused on the development of large scale resort and residential projects in the United States and Caribbean. This included such projects as the Ritz Carlton Club in Jupiter, FL, in partnership with Ritz, Marriott International and Jack Nicklaus, and an approximately 20 acre site on Las Vegas Boulevard directly across from MGM's Project City Center. Subsequent to Flag, in 2004, he acquired multiple parcels near Johannesburg, South Africa, for the development of a large residential community, hotel, golf course, and game preserve. Simultaneously, Mr. Stern developed Loft 5®, an award-winning design 270 unit condominium project in Las Vegas. In 2007, to further expand internationally, he formed a joint venture with several major U.S. developers in concert with the Chinese Aviation Ministry, based in Beijing, to capitalize on the rapid growth of the real estate industry in China.

Mr. Stern has worked with numerous municipalities in connection with zoning and development issues. He has also worked with community boards, arts and landmark commissions, and local, state and federal agencies. "The expertise and profound understanding of the industry that Mr. Stern brings to Binswanger enhances the company's commitment to increasing its corporate and institutional capabilities," said Frank G. Binswanger, III, President, Binswanger International. "It brings the level of service we provide to even greater heights."

Headquartered in Philadelphia, PA, Binswanger is an international full-service real estate organization with offices worldwide throughout the United States., Canada, Mexico and South America, the U.K. and Europe, the Middle East, and Asia.

Contact Information: CONTACT: Tamar Arslanian 215-448-6207 phone 215 448 6238 fax