Corporate report

Tropical Realty Appraisal sells to Franklin Street
Franklin Street has acquired Tampa-based Tropical Realty Appraisal Services. With offices in Tampa, Miami, Atlanta and Key West, Tropical Realty Appraisal Services provides real estate valuation services throughout the United States. It began in 1988.

“This is an important, strategic move for our growing company,” Andrew Wright, Franklin Street CEO and managing partner, says in a press release. “Tropical Realty Appraisal Services has an established brand and solid reputation, giving us instant credibility in that service line.”

Tropical Realty Appraisal Services' President Marty Engelmann will lead the new division at Franklin Street and is bringing more than 15 employees to the company.

Last year, Tropical Realty Appraisal Services completed 350 appraisals in the southeastern United States.

The new division, Franklin Street Valuation Advisory Services, will provide property valuation for lenders and larger institutional real estate investors and also offer litigation support.

xG Technology sells stock, options, brings in $5 million
Sarasota-based xG Technology Inc. (symbol: XGTI or XGTIW; recent price: $0.50) has closed its newest sale of stock and stock options. The company received about $5 million from the offering before underwriting discounts, commissions and expenses.

Tampa therapy company highlighted in PBS show
Tampa-based Progressus Therapy, a national provider of school-based and early intervention therapy services, is being featured on “Impact,” an award winning documentary educational TV series that airs on PBS. The company is being featured for its work with more than 30,000 children with special needs. Company President and CEO Janet Knupp was featured along with two Progressus Therapy clinicians.

The documentary will air on PBS stations throughout the year.

Progressus Therapy works with more than 200 school districts, charter schools and community agencies.

BNY Mellon hires Wells Fargo exec to lead Gulf sales efforts
BNY Mellon has appointed Gail Nursey as managing director of business development for the Florida West region between Tampa and Naples. Based in BNY Mellon Wealth Management's Tampa office, she now reports to Florida West President Lisa Simington.

The new position puts Nursey in charge of BNY Mellon's 10-person sales staff connecting high net worth individuals or families with financial teams at BNY Mellon.

Nursey joined BNY Mellon after working for the past 25 years at Wells Fargo Bank, most recently as a senior vice president and business banking area manager in the north-central region of Florida.

WRH Realty Services awarded contracts to manage two Jacksonville communities
The Vestcor Cos. hired St. Petersburg-based real estate firm WRH Realty Services Inc. to manage Peyton Ridge and Caroline Oaks, two senior apartments under development in Jacksonville. Caroline Oaks is an 82-unit community scheduled for completion in December. Peyton Ridge, a 123-unit community, is expected to be completed in January 2016.

WRH Realty Services, which specializes in multifamily real estate, owns more than 17,000 apartment units across the southeast United States.

Medical Center of Trinity developing Palm Harbor ER
The Medical Center of Trinity plans to open the Palm Harbor ER, a new freestanding emergency department. The Palm Harbor ER will be open 24 hours a day and treat adults and kids. It is expected to open in early 2016.

This is will be the fourth freestanding emergency department that HCA West Florida has opened in the Tampa Bay region since 2013. The other ERs include Medical Center of Trinity's Citrus Park ER, Largo Medical Center's Clearwater ER and Brandon Regional Hospital's Plant City Emergency Center.

“These ER's bring full-service emergency care even closer to more communities,” Peter Marmerstein, president, HCA West Florida says in a press release.

The Palm Harbor ER will provide more advanced emergency services than an urgent care center. It will accept patients via ambulance and have on-site CT scan, ultrasound, x-ray and laboratory services.

Gateway Bank credit analyst named Risk Management Association president
Hellen Osorio, Gateway Bank's assistant vice president and credit analyst, was recently appointed incoming president of The Risk Management Association — Sarasota Chapter.
Osorio will serve as president from Sept. 1 until Aug, 31, 2016.

Osorio has been a member of the association for two years, and began serving on the board of directors in November 2013.

She began her banking career five years ago with the Florida Office of Financial Regulation, where she served as a state-chartered bank examiner in the Tampa region. Osorio joined Gateway Bank in October 2013.

The Risk Management Association is focused on advancing the use of sound risk management principles in the financial services industry.